HomeMy WebLinkAboutC10-241 Assignment & Assumption of Leases and Security Deposits Riverview (2)
ASSIGNMENT AND ASSUMPTION OF LEASES AND SECURITY DEPOSITS
THIS ASSIGNMENT AND ASSUMPTION OF LEASES AND SECURITY DEPOSITS
(this "Assignment ") is made as of this 3' day of August, 2010 (the "Effective Date ") by and
between EAGLE COUNTY, COLORADO, a body corporate and politic ( "Assignor "), and EAGLE
RIVERVIEW AFFORDABLE HOUSING CORPORATION, a Colorado nonprofit corporation
( "Assi ee ").
RECITALS:
A. Pursuant to a Reconveyance Agreement between Assignor and Assignee of even
date herewith, Assignor this day conveyed to Assignee the real property described in Exhibit A
attached hereto and the improvements located thereon (collectively, the "Property ").
B. Assignor is the lessor (or successor lessor) under various leases ( "Leases ") with
respect to the Property and the holder of refundable security deposits in connection with the
Leases (the "Security Deposits ").
C. In connection with the conveyance of the Property, Assignor has agreed to assign
all of its right, title and interest in, to and under the Leases and convey the Security Deposits to
Assignee on the following terms and conditions.
NOW, THEREFORE, in consideration of the Recitals and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby
agree as follows:
1. Assignment. Assignor hereby assigns and transfers to Assignee all of Assignor's
right, title and interest as "landlord" or "lessor" in, to and under the Leases and conveys the
Security Deposits to Assignee.
2. Assumption. Assignee hereby accepts such assignment and assumes all
obligations of the "landlord" and "lessor" under the Leases relating to events arising on and after
the Effective Date, including, without limitation, the holding, applying and refunding of the
Security Deposits.
3. Indemnity. To the extent permitted by law, Assignor shall indemnify, defend (by
counsel acceptable to Assignee) and hold harmless Assignee for, from and against any and all
claims, loss, cost, liability and expense (including, without limitation, attorneys' fees and
expenses and court costs) arising out of or in connection with the Leases and Security Deposits
from events which occurred before the Effective Date. Assignee shall indemnify, defend (by
counsel acceptable to Assignor) and hold harmless Assignor for, from and against any and all
claims, loss, cost, liability and expense (including, without limitation, attorneys' fees and
expenses and court costs) arising out of or in connection with the Leases and Security Deposits
from events which occur on or after the Effective Date.
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4. Successors and Assigns. All of the terms, covenants and conditions set forth
herein shall be binding upon and inure to the benefit of Assignor and Assignee and their
successors and assigns.
5. Governing Law. This Assignment shall be governed by, and construed and
enforced in accordance with, the laws of the State of Colorado.
6. Counterparts. This Assignment may be executed in counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same instrument.
IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment the
day and year first above written.
ASSIGNOR:
EAGLE COUNTY, COLORADO, a body corporate
and politic
By:
jeLei.„ {r,x..-
Sara J. Fisher airrnan
ASSIGNEE:
EAGLE RIVERVIEW AFFORDABLE HOUSING
CORPORATIO , a olo : 1 • nonprofit corporation
By
Name: Ghn
Title: red a e Preside:t
—2
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Exhibit A
Legal Description
Parcel 1
LOT 1, BLOCK 2, EAGLE -VAIL SUBDIVISION, FILING NO. 2, ACCORDING TO THE
PLAT RECORDED JANUARY 7, 1974 IN BOOK 232 AT PAGE 782, COUNTY OF EAGLE,
STATE OF COLORADO.
Parcel 2
THAT CERTAIN EASEMENT AND RIGHT OF WAY CREATED BY CONVEYANCE OF
EASEMENT DATED SEPTEMBER 26, 1978, AND RECORDED ON OCTOBER 2, 1978, IN
BOOK 276 AT PAGE 45, FOR THE PURPOSE OF CONSTRUCTING, MAINTAINING,
REPAIRING, ENLARGING, AND RECONSTRUCTING VEHICULAR PARKING AND
PARKING STRUCTURES, WHICH EASEMENT AFFECTS THE FOLLOWING PARCEL:
TRACT A, AMENDED FINAL PLAT, LOT 1A, BLOCK 2, EAGLE VAIL FILING NO. 2,
ACCORDING TO THE PLAT RECORDED JUNE 13, 1978 IN BOOK 271 AT PAGE 85,
COUNTY OF EAGLE, STATE OF COLORADO.
A -1
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