Assignment Agreement Template (Page 2 of 4) in pdf

Assignment Agreement Template Page 2

performance of the County’s and Assignor’s obligations under, the Loan Agreement, the 2015

Affordable Housing Note and the Payment Agreement (collectively, the “Obligations”).

Notwithstanding anything contained herein to the contrary, this Assignment is intended to be an

absolute assignment from Assignor to Assignee of County Payments (as defined in the Payment

Agreement) and not merely a grant of a security interest.

The acceptance of this Assignment and the collection of County Payments under the

Payment Agreement hereby assigned shall not constitute a waiver of any rights of Assignee

under the terms of the Loan Agreement, the 2015 Affordable Housing Note, the Payment

Agreement or any other agreement or instrument executed in connection therewith. Assignee

shall not be obligated to perform or discharge any obligation or duty to be performed or

discharged by Assignor under the Payment Agreement.

Assignor covenants and represents that no other assignment of any interest in the County

Payments assigned has been made, and that Assignor will not hereafter amend, alter, modify,

cancel, surrender or terminate the Payment Agreement, exercise any option which might lead to

any such amendment, alteration, modification, cancellation, surrender or termination or consent

to the release of the County thereunder without the prior written consent of Assignee.

Assignor hereby authorizes and directs the County to make all payments due under the

Payment Agreement directly to the Assignee.

The full performance of the Loan Agreement, the 2015 Affordable Housing Note and the

Payment Agreement shall render this Assignment void.

The net proceeds collected by Assignee under the terms of this instrument shall be

applied in reduction of the entire indebtedness from time to time unpaid on the 2015 Loan and

the 2015 Affordable Housing Note.

This Assignment applies to and binds the parties hereto and their respective heirs,

administrators, executors, successors and assigns.

ACTIVE 205152537v.3

Assignment Agreement Template Page 2