Exhibit 10.11
ASSIGNMENT OF MEMBERSHIP INTEREST
This ASSIGNMENT OF MEMBERSHIP INTEREST is entered into effective as
of the 1st day of June, 2002, by and between DALTOR HOUSTON TITLE, INC., a Texas
corportation {"Assignor"), and XXXXXX XXXXXXX RESIDENTIAL, LLC., a Texas limited
liability company ("Assignee").
WHEREAS, Assignor currently owns a forty-nine percent (49%) membership
interest {the "Membership Interest") in DOMINION TITLE, L.L.C., a Texas limited
liability company (the "Company");
WHEREAS, Assignor desires to assign all of its right, title and
interest to the Membership Interest to Assignee;
WHEREAS, Assignor and Assignee acknowledge and have represented to the
other Member of the Company that they are affiliated companies as set forth in
Section 1.2 of the Members' Agreement of the Company, dated June 7, 1999 (the
"Members' Agreement");
WHEREAS, Assignee has consented to such assignment and has agreed to be
bound by the Regulations of the Company, dated June 7,1999 (the "Regulations"),
and the Members' Agreement; and,
WHEREAS, all of the Members of the Company have consented to such
assignment and transfer of membership interest;
NOW, THEREFORE, in consideration of the mutal benefits to be derived
by the parties herein, it is agreed as follows:
1. Assignor hereby transfers, conveys and assigns all of its right,
title and interest in the Membership Interest to Assignee.
2. Assignee hereby accepts such assignment.
3. As additional consideration for the transfer of the Membership
Interest, Assignee hereby agrees to be bound by all of the provisions of the
Regulations and the Members' Agreement in all regards as of it had been an
original signatory thereof.
EXECUTED effective as of the date first written above.
ASSIGNOR:
DALTOR HOUSTON TITLE, INC.
By: /s/ Xxxxxx X. Xxxxxxx
Name: Xxxxxx X. Xxxxxxx
Title: Authorized Representative
ASSIGNEE:
XXXXXX XXXXXXX RESIDENTIAL, L.L.C.
By: /s/ Xxxxxx X. Xxxxxxx
Name: Xxxxxx X. Xxxxxxx
Title: Authorized Representative
AGREED:
XXXXXXX TITLE COMPANY
By: /s/ X.X. XXXXXX
Name: X.X. Xxxxxx
Title: ILLEGIBLE
Date: 10-1-02
