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Transferred Premises. <br />3. Assumption. Assignee hereby assumes all obligations of Assignor and any <br />liability that may result from acts or omissions by Assignee under the Agreement as it <br />relates to the Transferred Premises that may arise or accrue from and after the effective date <br />of this Assignment, and Assignor is hereby released from all such obligations and liabilities <br />from and after the effective date of this Assignment; provided, however, this Assignment <br />does not release Assignor from any liability that resulted from an act or omission by <br />Assignor that occurred prior to the effective date of this Assignment unless the City <br />approves the release in writing. <br />4. Governing: Law. This Assignment must be construed and enforced in <br />accordance with the laws of the State of Texas, as they apply to contracts performed <br />within the State of Texas and without regard to any choice of law rules or principles <br />to the contrary. <br />5. Counterpart/Facsimile Execution, This Assignment has been <br />prepared in multiple counterparts, each of which shall constitute an original hereof, and <br />the execution of any one of such counterparts by any signatory shall have the same <br />force and effect and- shall be binding upon such signatory to the same extent as if the <br />same counterpart were executed by all of the signatories. Facsimile copies of signatures <br />may be appended hereto with the same force and effect as legally delivered original <br />signatures. <br />6. Notice to City. A copy of this Assignment shall be provided to the City <br />within fifteen (15) days after execution. <br />7. Binding Effect. This Assignment, when accompanied by a Partial <br />Assignment of Reimbursement Rights in favor of the City for the Master Development <br />Fee described in the Agreement, shall be binding upon and shall inure to the benefit of <br />Assignor and Assignees and their respective heirs, personal representatives, successors, <br />and assigns. <br />8. Partial Assignment of Reimbursement Rights. Assignee hereby <br />assigns to the City of San Marcos Texas its right to reimbursements from bond proceeds <br />in the amount equal to the Engineer's Cost Estimate (as that term is defined in the <br />Agreement and in the Amended and Restated Development Agreement). <br />24 <br />