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OCT 11 '89 09:29 HEWM 32ND FLOOR <br /> <br />between Stoneson and the City, recorded November 14, 1983, Series <br /># 83-214586, official records of Alameda County, California, and <br />(ii) the Subdivision Agreement by and between Stoneson and the <br />City relating to the Property entered into on or about November <br />1986; and <br /> <br /> WHEREAS, in conjunction with the transfer of the <br />Property, Stoneson desires to assign and transfer all of the <br />rights and obligations of Stoneson under the Agreements to <br />Distributing; and <br /> <br /> WHEREAS, Distributing desires to assume Stoneson's <br />rights and obligations under the Agreements; and <br /> <br /> WHEREAS, the City is agreeable to such assignment of <br />the Agreements; <br /> <br /> FOR GOOD AND VALUABLE CONSIDERATION, the receipt of <br />which is hereby acknowledged, the parties hereto agree as <br />follows: <br /> <br /> 1. Assignment and Assumption. Effective as of the <br />Effective Date, Stoneson assigns and transfers unto Distributing, <br />and Distributing assumes and accepts from Stoneson, all of <br />Stoneson's rights, title, claims, liabilities, obligations and <br />interest in, to and under the Agreements and in, to and under any <br />building permits, use permits, sewer permits or other <br />governmental permits or approvals relating to the development or <br />use of the Property (including any improvements thereon or <br />utilities to be installed thereto). <br /> <br /> 2. Distributing's Covenant to Perform. Distributing <br />covenants to the City that on and after the Effective Date <br /> <br /> -2- <br /> <br /> <br />