Assignment and Assumption of Development Agreement 1989-101626De A. Assignor is the Developer under that certain
Ci velopment Agreemsnt dated December 5, 1988, by and between the
ty of Poway and Assignor relating to contain coal property in
the county of Ban Diego, City of Poway, fully described in
Ezbib1t 'A• attached hereto (the "Property'). The Development
Agreement was recorded on December 8, 1988 ).
County Recorder's Office ■a Instrument go. in the Son Diego
th th 53.
B. Aasignse intends to acquire the Property pursuant
to pending escrows between the fee owners of the Property and ADZ
Properties, Inc., a general partner of Assignee.
C. Effective upon Assignee's acquisition of the fee
interest
.in all or a portion of the Property, Assignor desires to
aaaign to Assignee its interest under the Development Agreement
and Assignee desires to assume Assignor's obligations thereunder.
NOM, THRMFORL, incorporating the recitals above and for
other good and valuable eonaiderstion, the receipt and sufficiency
Of which are hereby acknowledged the parties hereto hereby agree
as follows:
1• diziOADtat. Assignor hereby &Deigns to Assignee
all of Assignor's right, title and interest Of Developer under
the Development Agreement.
2. A1A.umut=. Assignee hereby accepts the assignment
in Paragraph l and assumes and agrees to perform all of the obli-
gations and duties of Developer under the Development Agreement.
3. E&fective na The foregoing assignment and
assumption shall be effective only upon Assignee's acquisition of
the fee interest in 411 or a portion of the Property.
IN x88 ffHLRIOP
this Assignment , Assignor and Assignee have executed
ent s■ of the date first written hereinabove.
'ASSfasOR` PAR"AY PAgTM S, A California
general partnership
(Signatures continua)
195/M 13 /m43I -Wj 102- 71 -iN1W/
Sy: ADZ PROPERTIEs, Inc., a
Califor is corporations
general partner
By:
sa
By. Itat
B9 fQ16Y6
2394
1
(���1�o`R � - -1•
07
IUI�SANFGO�C¢�{pl�
jCA
RECORDING REQ�Q� Sr, Alm
1
nee E i =R # RJ91VU =I (�
28 Fm t2 IS
137 Properties, Inc.
12707 High Bluff Drive
VF�EB
L CMT ktg&
_..J
suits 135
San Diego, California 92130
Attentiont Mr. R. Rot Brown III
Eec row
Space Above for R&COrdar's
Use On
A88IaNN3rJrT AM AfiSDNpTIOg OD DXV=pg=T AG=DCMT
THIS ASSIQ)t MM AND ASSUXP'TION
(,Assignment') Is doted as
DEVRWFNM" AOREEM NT
of rebruarr
PA31'1UXES, o California genarel partners qh"1(*ADsignor-),
Partite Y nusjXjSS R
1989 between PARX"AY
and
PARTMEKS, LTD., a California
hip (*As igns
Partnership (•Assignee•), with reference to
end circumstances:
limited
the following facto
De A. Assignor is the Developer under that certain
Ci velopment Agreemsnt dated December 5, 1988, by and between the
ty of Poway and Assignor relating to contain coal property in
the county of Ban Diego, City of Poway, fully described in
Ezbib1t 'A• attached hereto (the "Property'). The Development
Agreement was recorded on December 8, 1988 ).
County Recorder's Office ■a Instrument go. in the Son Diego
th th 53.
B. Aasignse intends to acquire the Property pursuant
to pending escrows between the fee owners of the Property and ADZ
Properties, Inc., a general partner of Assignee.
C. Effective upon Assignee's acquisition of the fee
interest
.in all or a portion of the Property, Assignor desires to
aaaign to Assignee its interest under the Development Agreement
and Assignee desires to assume Assignor's obligations thereunder.
NOM, THRMFORL, incorporating the recitals above and for
other good and valuable eonaiderstion, the receipt and sufficiency
Of which are hereby acknowledged the parties hereto hereby agree
as follows:
1• diziOADtat. Assignor hereby &Deigns to Assignee
all of Assignor's right, title and interest Of Developer under
the Development Agreement.
2. A1A.umut=. Assignee hereby accepts the assignment
in Paragraph l and assumes and agrees to perform all of the obli-
gations and duties of Developer under the Development Agreement.
3. E&fective na The foregoing assignment and
assumption shall be effective only upon Assignee's acquisition of
the fee interest in 411 or a portion of the Property.
IN x88 ffHLRIOP
this Assignment , Assignor and Assignee have executed
ent s■ of the date first written hereinabove.
'ASSfasOR` PAR"AY PAgTM S, A California
general partnership
(Signatures continua)
195/M 13 /m43I -Wj 102- 71 -iN1W/
Sy: ADZ PROPERTIEs, Inc., a
Califor is corporations
general partner
By:
sa
By. Itat
C
(Signatures continued)
'ASSICHEB•
8TAT8 OF C LIrORXIA
COLgM Or BAN DIROO ) ss
0 2395
PARXKAY BUSINEBS Crr= PART8ER8,
LTD., s California ilmlted
Partnership
By: ADI PRO TIES&ions
INC Colifor a Syr By:
Its:
0
On , 1959, before me, the undersigned, a
>totory lic in a for asid 8 ate, pereonall Appeared
and ,�q� y bhalf
PROP TIER 8 �11y , oA behalf of ADI
to me that�said�corhe corporation theroin nomad, and acknowledged
Pursuant to its bylawsaoroa resolutionhofaitslboardtof directors,
said corporation being known to me to be one of the partners of
PARMQY PARTNERS, the partnership that executed the within
Instrument, and Acknowledged to me that such partner and that such
Partnership executed the some.
WITNESS ray hand and official sail.
OFFKXAL
am an ao OOVtRr 1 eta Pu iC n nd or aid State
sy amt. a;. D-a M, tcoa
STATB Or CALIro;wlA )
OOURrY or 8" D1700 ) as.
On , 1959, before me, the undersigned, a
so m y Pu is in an for said $tatq
and P' �..,i �q,= Per�sonalir appeerod
PROPZ TIER I , on behalf of ADZ
the corporation therein neroed, and acknowledged
to me that said corporation executed the within instrument
Pursuant to its bylaws or a resolution of its board of directors,
said corporation being known to me to be One of the partners of
PARXHAY 8U8IIIESB CENTER PARTNERS, LTD., the partnership that
executed the within instrument, and acknowledged to roe that much
partner and that such partnership executed the same,
WITNESS my hand and
aaN�orivo
�. � oan eP pea e:, ris
official goal.
not li a for said State
1 Na/fa: a�►ed� 1- 00J/Dr -t I -M/MW -
, . • 0 2396
MIBIT 'A'
The land referred to herein is situated in the State of
California, County of San Diego, and is described as follows:
Parrcel II
The southoaat quarter of the northeast quarter of Section 24, in
Township 14 South, Range 2 West, Son Bernardino Meridian, in the
City of Poway, County of San Diego, State of California, according
to Official Plat thereof.
Parcel 2•
The northeast quarter of the southeast quarter of Secticr. 24,
Township 14 South, Range 2 West, San earnardino Meridian, in the
City of Poway, County of Son Diego, State of California, according
to Official Plat thereof.
THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA,
COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS:
PARCEL 1:
LOTS 2 AND ] AND THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER, AND
THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 10, TOWNSHIP 14
SOUTH, RAN(X 1 HEST, SAN BERNARDINO MERIDIAN, IN TK CITY OF POWAY,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO OFFICIAL PLAT
THEREOF.
PARCEL 2:
THE EAST HALF OF THE WEST HALF OF THE NORTHEAST QUARTER OF SECTION 19,
TOWNSHIP 14 SOUTH, RANGE I WEST, SAN BERNARDINO K RIDIAPI, IN THE CITY
OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO
OFFICIAL PLAT THEREOF.
PARCEL 3:
THE WEST HALF OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER AND
THE SOUTHEAST QUARTER OF THIS NORTHWEST QUARTER OF SECTION it,
TO013HIP 14 SOUTH, RAMI 1 WEST, SAN 1ERNARDIN0 MERIDIAN, IN THE CITY
OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDINO TO
OFFICIAL PLAT THEREOF.
:orna�vrw��o��R,t1 anaW 1 OF •Jl•
L'
a 2397
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