Res 2007-209 - Laserfiche WebLink

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ASSIGNMENT OF LEASE STATE OF TEXAS ~ 9 COUNTY OF CALDWELL ~ THIS AGREEMENT is made between Mike Wakeland ("Assignor") and Conejo Investments, Inc. ("Assignee"). WHEREAS, the City of San Marcos as Lessor and Cyle E. Hogue and Sally C. Hogue (''the Hogues") as Lessee entered into a Lease ("the Lease") dated July 28, 1998, which covers a 3,000 square foot tract of property at the San Marcos Airport, William Pettus Survey, Caldwell County, Texas, described therein and also as described in the attached Exhibit A; WHEREAS, the Hogues assigned the Lease to Assignor; and WHEREAS, Assignor now desires to assign the Lease to Assignee and Assignee desires to accept the assignment, subject to the terms and conditions of this Assignment. THEREFORE, Assignor and Assignee agree as follows: 1. In consideration of the sum of TEN AND NOll 00 ($10.00) DOLLARS and other good and valuable consideration, the receipt and sufficiency of which is acknowledged by Assignor, Assignor assigns to Assignee and Assignee's heirs, executors, administrators, successors and assigns, all of Assignor's rights, title and interest in and to the Lease and all improvements thereon including the hangar. Assignee accepts the Assignment, and, in addition, expressly assumes and agrees to perform and fulfill all of the terms, covenants, conditions, and obligations of Assignor under the Lease accruing on or after the Effective Date but not otherwise. 2. This Assignment is subject to approval by the City of San Marcos. This Assignment will become effective on the date it is executed by the City of San Marcos ("the Effective Date"). 3. If the City of San Marcos does not execute this Assignment, the parties shall have no obligations under it, and it shall be null and void. 4. Assignor has paid or shall timely pay all taxes and assessments against any buildings or structures on the Leased Premises for all tax years prior to and including 2007; however, Assignee shall pay one-half of all such taxes for tax year 2007. Assignor has paid or shall timely pay all taxes and assessments against its personal property on the Leased Premises. Assignee shall timely pay all taxes and assessments against its personal property on the Leased Premises. Assignor will forward to Lessee, within five days of receipt, all notices, assessments, and bills received on or after the Effective Date for any taxes Lessee is obligated to pay under the Lease.