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A. The Assignee either is a successor owner of all or any part of the Property or is <br /> a lender to a successor owner of all or any part of the Property; <br /> B. The assignment is in writing executed by the Owner and the Assignee; <br /> C. The Assignee expressly assumes in the assignment all assigned obligations and <br /> expressly agrees in the assignment to observe, perform and be bound by this <br /> Agreement to the extent this Agreement relates to the obligations, rights, titles <br /> or interests assigned; and <br /> D. A copy of the assignment is provided to the City. <br /> Provided all of the foregoing conditions are satisfied, from and after the date an <br /> assignment is executed by an Owner and their Designated Successor and Assign, or <br /> their Assignee, the City agrees to look solely to the Designated Successor and Assign <br /> or Assignee for the performance of all obligations assigned to such Designated <br /> Successor and Assign or Assignee and agrees that Owner shall be released from <br /> performing the assigned obligations and from any liability that results from the <br /> Designated Successor and Assigns or Assignee's failure to perform the assigned <br /> obligations. No assignment by an assigning Owner shall release the assigning Owner <br /> from any liability that resulted from an act or omission by the assigning Owner that <br /> occurred prior to the effective date of the assignment. <br /> (b) The City may not assign this Agreement, in whole or in part, including any <br /> obligation, right, title, or interest of the City under this Agreement, to any person, <br /> entity, or political subdivision. <br /> (c) This Agreement is not binding on and does not create any encumbrances to title <br /> as to any Ultimate Buyer. <br /> (d) Upon written request by any seller or purchaser of land within the Property, an <br /> Owner or any prospective lender of an Owner or their respective assignees, the <br /> City shall execute a written estoppel certificate to such person stating that, if true, <br /> that the City has not given or received any written notices alleging any events of <br /> default under this Agreement. <br /> 20 <br />