DE SILVA GROUP - ASSIGNMENT ASSUMPTION AND RELEASE AGMT

ASSIGNMENT, ASSUMPTION AND RELEASE AGREEMENT THIS ASSIGNMENT, ASSUMPTION AND RELEASE AGREEMENT (this "Agreement") is entered into as of March 9, 1993 by and between AHMANSON DEVELOPMENTS, INC., a California corporation ("Assignor"), THE DESILVA GROUP, INC., a California corporation ("Assignee"), and the City of Pleasanton, a general law city, located in Alameda County, California, acting through the City Manager and the City Clerk ("City") RECITALS A. City and Assignor have entered into that certain subdivision improvement agreement described on Exhibit "A" attached to this Agreement (the "Subdivision Improvement Agreement"j pertaining to that certain real property located in the City of Pleasanton, County of Alameda, State of California, described on Exhibit "B" attached to this Agreement (the "Property"). Pursuant to the Subdivision Improvement Agreement, Assignor has obtained and delivered to the City those certain subdivision improvement bonds described on Exhibit "C" attached to this Agreement (the "Assignor's Bonds"). B. Paragraph 17 of the Subdivision Improvement Agreement provides that the Subdivision Improvement Agreement shall run with, and bind successive owners of, the Property. C. Assignor has sold to Assignee, and Assignee has purchased from Assignor, the Property pursuant to that certain Agreement and Escrow Instructions for Purchase and Sale of Property dated January 29, 1993 between Assignor and Assignee (the "Purchase and Sale Agreement"). NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor, Assignee and City hereby agree as follows: 1. Assi ng_ment. Assignor hereby assigns, conveys and transfers and delegates to Assignee, all of Assignor's right, title and interest in and to the Subdivision Improvement Agreement, and all of Assignor's rights and obligations under the Subdivision Improvement Agreement. 2. Assumption. Assignee hereby accepts the assignment of the Subdivision Improvement Agreement and agrees to perform, or cause to be performed, all of the obligations of Assignor under the Subdivision Improvement Agreement. 3. Replacement of Bonds. Assignor and Assignee are concurrently with the execution of this Agreement delivering to the City Assignee's subdivision improvement bonds described in Exhibit "D" attached to this Agreement ("Assignee's Replacement Bonds") to replace each of Assignor's Bonds. City hereby acknowledges receipt of Assignee's Replacement Bonds.