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5 <br /> ASSIGNMENT OF LEASE <br /> This agreement is made on the day of , 2005 between <br /> Lease Assignor, North Snohomish, Island, Skagit Counties Higher Education <br /> Consortium (NSIS) of 516 High Street, Bellingham, WA 98225, Assignee, <br /> Everett Community College (EVCC) of 2000 Tower Street, Everett, WA 98201, <br /> Assignee, Washington State Board for Community and Technical Colleges <br /> (SBCTC), of PO Box 42495, Olympia, WA 98504-2495, and Lessor, The City of <br /> Everett (City) of 2930 Wetmore Ave. Everett, WA 98201. <br /> RECITALS <br /> The parties declare: <br /> A.NSIS has entered into a lease agreement, with Commencement Date <br /> January 23, 2002, as lessee, with the City of Everett, as lessor. A copy of the lease <br /> agreement, containing a description of the premises, is attached to this agreement <br /> as Exhibit A. <br /> B. NSIS will disband as a consortium effective July 24, 2005, as evidenced by <br /> the Dissolution Agreement dated June 7, 2005 and attached as Exhibit B.. <br /> C. NSIS desires to assign the lease agreement to EVCC, who will assume all <br /> liabilities and duties as well as all rights of NSIS pertaining to the payment of all <br /> rents to become due under the lease agreement after the effective date of the <br /> assignment. <br /> 4 <br /> In consideration of the mutual covenants contained in this agreement, the <br /> parties agree as follows: <br /> 1. NSIS hereby transfers and assigns to EVCC all duties as to the payment <br /> of all rents required under the lease agreement and all other duties and <br /> privileges described in the lease provisions. <br /> 2. The assignment shall become effective on July 1, 2005, and shall apply <br /> to all rents due thereafter until expiration of the lease agreement term on <br /> January 22, 2007 or to such other dates to which it might be extended. <br /> 3. SBCTC and EVCC hereby accept the responsibilities as assignees of <br /> referenced leased. <br /> 4. City of Everett hereby acknowledges this assignment which is allowed <br /> to occur in keeping with the lease agreement and any such extensions that <br /> may be agreed to, and agrees to EVCC and SBCTC serving as the entity of <br /> the State of Washington to which this lease is assigned. <br /> F I <br /> 1 4 <br />