10A Action 2012 0618 - Laserfiche WebLink

Home

to as the "Assigned Documents "). Other than as expressly stated herein, Assignor makes no express or implied representations or warranties in connection with the Assigned Documents. (A) All architectural, design, engineering, consulting and construction contracts, and any and all amendments, modifications, supplements, addenda and general conditions thereto equaling or exceeding Five Thousand Dollars ($5000) in cost (collectively "Agreements "), heretofore or hereafter entered into by Assignor (or any affiliate of Assignor) and any architect, engineer, analyst, consultant, contractor or other person or entity ( "Contractor ") in connection with the preparation of plans, specifications, studies, assessments, analyses, drawings or any other similar service related to the Property, the Project, or the improvements existing or to be installed or constructed on the Property (the "Improvements "); (B) All permits, reports, analyses, studies, plans and specifications, shop drawings, working drawings, amendments, modifications, changes, supplements, general conditions and addenda thereto equaling or exceeding Five Thousand Dollars ($5000) in cost (collectively "Reports, Plans and Specifications ") heretofore or hereafter obtained or prepared by or for Assignor or its affiliates, agents, employees or any Contractor with respect to the Property, the Project or the Improvements; and (C) All Construction Plans (as defined in Section 3.11 of the Restated Loan Agreement). As used herein, the term "Assigned Documents" shall also include all Agreements and all Reports, Plans and Specifications to which beneficial interest or rights of use have been obtained by or assigned to Assignor. 3. This Agreement is made to secure payment to the City of all sums now or hereafter owing under the Amended and Restated Predevelopment Promissory Note dated as of the date hereof made by Assignor for the benefit of City, and any and all advances, modifications, extensions, renewals and amendments thereof. 4. Assignor hereby irrevocably appoints City as its attorney -in -fact (which agency is coupled with an interest) upon the occurrence of an Event of Developer Default under the Loan Agreement or upon Assignor's termination of the Restated Loan Agreement pursuant to Section 4.1.2 (b) thereof, to demand, receive, and enforce any and all of Assignor's rights with respect to the Assigned Documents, and to perform any and all acts in the name of Assignor or in the name of the City with the same force and effect as if performed by Assignor in the absence of this Agreement. 5. Assignor agrees to obtain from each Contractor whose contract equals or exceeds Five Thousand Dollars ($5000) and deliver to City a duly executed Consent substantially in the form attached hereto as Exhibit B . 1902229.2 2