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ASSIGNMENT AND ASSUMPTION AGREEMENT <br /> Assignor: Assignee: <br /> Name: Everett Golf Management, Inc. Name: City of Everett <br /> Address: 8221 Old Courthouse Road, Suite 350 Address: 802 East Mukilteo Blvd <br /> Vienna, VA 22182 Everett, WA 98203 <br /> Company: Contract: <br /> National City Commercial Capital Company, LLC Lease Number PFG432830003 <br /> 995 Dalton Avenue Dated as of May 20, 2003;#432830003 <br /> Cincinnati, Ohio 45203 • 1st Due August 1, 2003 (72 <br /> Months/Advance) <br /> Installment Payments Remaining: <br /> 17 monthly payments <br /> Monthly Payment Amount: $1,848.96 <br /> Total Amount Due: $31,432.32 <br /> Equipment: End of Term Option: FMV <br /> 36 EZGO Electric Golf Cars Effective Date: March 1, 2008 <br /> Serial#'s Per the attached Exhibit B <br /> Maturity Date August 1, 2009 <br /> THIS ASSIGNMENT AND ASSUMPTION AGREEMENT, herein "Agreement, dated as of <br /> December 1, 2007, is by and between Assignor and Assignee including all Exhibit A, Exhibit B and <br /> Amendment A, and regards Assignor's assignment to Assignee and Assignee's assumption, effective as <br /> of the Effective Date, of all of Assignor's rights, duties and obligations under the Contract. <br /> WHEREAS, Company has leased to Assignor and Assignor has leased from Company, subject to <br /> and in accordance with the terms, conditions and provisions of the Contract, certain Equipment described <br /> in the Contract, a true and complete copy of which is attached hereto, made a part hereof and marked <br /> Exhibit"A"; and <br /> WHEREAS, Company is the legal owner of the Contract; and <br /> WHEREAS, Assignor wishes to sell and Assignee wishes to buy all and whatever interest <br /> Assignor has in and to the Contract and the Equipment, and Assignee acknowledges that it has received a <br /> true and correct copy of the Contract; <br /> WHEREAS, Assignee desires to accept the assignment from Assignor of and to assume all <br /> future rights, duties and obligations of Assignor under the Contract, effective as of the Effective Date; and <br /> WHEREAS, the Contract provides that Assignor may not assign, sublease or dispose of the <br /> Equipment or any interest therein or in the Contract without the prior written consent of Company. <br /> NOW, THEREFORE, for the reasons recited above and in consideration of the mutual covenants <br /> contained herein, Assignor and Assignee and the Guarantor(s), if any, intending to be legally bound agree <br /> as follows: <br />