Laserfiche WebLink
DRS233 <br /> EXHIBIT E <br /> ASSIGNMENT AND DEED <br /> WHEREAS, the City of Everett, Washington (the "City") and <br /> Lumpkin, Inc. (the "Seller") have entered into a certain ground <br /> lease dated as of (the "Ground <br /> Lease") a memorandum of which is recorded under Snohomish County <br /> Auditor's Reference No. for the lease by Seller of <br /> certain real property (the "Property") owned by the City and <br /> legally described on Exhibit A hereto; and <br /> WHEREAS, Seller has pursuant to contract with the City <br /> constructed certain improvements on said Property (the <br /> "Improvements") which Improvements are legally described on <br /> Exhibit B hereto; and <br /> WHEREAS, the City and Seller have entered into a certain <br /> agreement for the lease (with an option to purchase) by City of <br /> the Improvements (the "Lease") ; and <br /> WHEREAS, the Seller has agreed to transfer the Improvements <br /> and assign its interest in the Ground Lease and Lease, each <br /> subject to the City's rights therein to <br /> (the "Underwriter") , and in <br /> consideration therefor has received from Security Pacific Bank <br /> Washington (the "Trustee") , acting on behalf of the Underwriter, <br /> the sum of ($ ) of which amount <br /> $ is being withheld by Trustee pending authorization <br /> for final payment by the City, which total amount is the full <br /> Acquisition Price of the Seller's interest in the Ground Lease, <br /> the Lease and the Improvements, and the Underwriter has directed <br /> the Seller to assign said interest directly to the Trustee as <br /> described below for the benefit of the Underwriter or its <br /> designees; <br /> NOW, THEREFORE, for good and valuable consideration, receipt <br /> of which is hereby acknowledged, the Seller hereby assigns and <br /> transfers, conveys and warrants to Security Pacific Bank <br /> Washington as Trustee ("Trustee") under that certain Trust <br /> Agreement dated between the Trustee and <br /> the Underwriter: <br /> A. All of Seller's right, title and interest in the Ground <br /> Lease, a memorandum of which is recorded under Snohomish County <br /> Auditor's Reference No. , subject to the City's <br /> rights therein. <br /> B. All of Seller's right, title and interest in the <br /> Improvements constructed on the Property and in that certain <br /> E-1 <br />