Assignment, Delegation, and Assumption of the Owner Participation Agreement 1991-0202942n
RECORDING REQUEST BY: )
City of Poway )
WHEN RECORDED, MAIL TO: )
City Clerk )
City of Poway )
P. 0. Box 789 )
Poway, California 92064 )
No Transfer Tax Due
1991-0202942
1248 02 —MAY -1991 12:15 PM
SAN DIEGO COUNTY RECORDER'S OFFICE
ANNETTE EUANS , COUNTY RECORDER
FEES: 0.00
Space above this line for Recorder's Use)
ASSIGNMENT,
DELEGATION, AND ASSUMPTION
OF THE OWNER PARTICIPATION AGREEMENT
BY AND BETWEEN
THE POWAY REDEVELOPMENT AGENCY,
AND MCMILLIN COMMUNITIES, INC.,
r. a
PARTICIPANT.
This ASSIGNMENT, DELEGATION AND ASSUMPTION OF THE OWNER
PARTICIPATION AGREEMENT BY AND BETWEEN THE POWAY REDEVELOPMENT
AGENCY, AGENCY, AND MCMILLIN COMMUNITIES, INC., PARTICIPANT,
( "Assignment, Delegation and Assumption ") , is made as of May 1 ,
1991, by and between McMillin Communities, Inc., a California
corporation, and McMillin Equity Partners II, a California limited
partnership, who agree as follows:
1. RECITALS: This Assignment is.made with reference to and
in contemplation of the following facts and circumstances:
a. McMillin Communities, Inc. and The Poway
Redevelopment Agency ( "Agency ") are parties to the Owner
Participation Agreement by and between the Poway Redevelopment
Agency, Agency, and McMillin Communities, Inc., Participant,
( "Owner Participation Agreement "), executed on June 18, 1990
and recorded with the San Diego County Recorder on July 26,
1990 as File /Page No. 90- 408019.
b. McMillin Equity Partners II holds all legal interest
in the property governed by the Owner Participation Agreement
as of the date of this Assignment, Delegation and Assumption.
2. ASSIGNMENT AND DELEGATION: For valuable consideration,
receipt of which is hereby acknowledged, McMillin Communities, Inc.
hereby assigns all its rights and delegates all its obligations
under the Owner Participation Agreement to McMillin Equity Partners
II.
1
® 12 4 9®
3. ASSUMPTION: For valuable consideration, receipt of which
is hereby acknowledged, McMillin Equity Partners II hereby accepts
all rights and assumes all obligations of McMillin Communities,
Inc. under the Owner Participation Agreement.
IN WITNESS WHEREOF, McMillin Communities, Inc. and McMillin
Equity Partners II have executed and delivered this Assignment,
Delegation and Assumption as of the date written above.
McMILLIN COMMUNITIES, INC
a California corporation
B Y UJ
ts: ,Executive Vice President
By:
is-: Vice President
MCMILLIN EQUITY PARTNERS II,
a California limited partnership
By:McMILLIN DEVELOPMENT, INC.,
General Partner
By:_ ..t.c_
fts: V ce Pre ident
By:
I✓ s: Seni rice President
o: \5 \5546 \41858 \ASRIGHT.953 2 4/29/91 1:OOpm CLE:sh
• � izso
STATE OF CALIFORNIA
ss.
COUNTY OF San Diego
On May 1, 1991 before me, the undersigned, a
Notary Public in and for said State, personally appeared
Virgil E. Elliott and James H.Ondler
personally known to me (or proved to nte�on the
basis -ef _ tisf- a-e-le -er -dene ) to be the persons who executed the
within instrument as Executive Vice President , and
Vice President on behalf of
McMillin Communities, Inc. , the corporation therein named,
and acknowledged to me that such corporation executed the within
instrument pursuant to its by -laws or a resolution of its board of
directors.
WITNESS my hand and official seal.
Signature
STATE OF CALIFORNIA
ss.
COUNTY OF San Diego
oi.'p OFFICAL SEALJOYCE A BROCK
Notary PublloCdfonia
SAN DIEGO COUNTY
y Comm. EXP. Mar. 31, 1993
(This area for official notarial seal)
On May 1, 1991 before me, the undersigned, a
Notary Public in and for said State, personally appeared
Robert L. Jones and Jim J. JOrdan
, personally known to me ( he-
ba94:9 of satis fa ter1 evidene ) to be the persons who executed the
within instrument as Senior Vice President and
Vice President on behalf of
McMillin Development, Inc. , the corporation therein named,
and acknowledged to me that such corporation executed the within
instrument pursuant to its by -laws or a resolution of its board of
directors.
WITNESS my hand and official seal
Signature
16. OFFlCIAL SEAL
JOYCE A BROCK
Notary Pubflo-Callfomia
SAN DIEGO COUNTY
y Comm. Exp. War. 31. 1993
(This area for official notarial seal)
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