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497656 as amended by an Amendment to Regulatory Agreement dated as of December 31, 2000 <br /> and recorded in the Official Records on September 24, 2004 as No. 2004-434623 (collectively, the <br /> "TCAC Regulatory Agreement") and collectively with the Loan Agreement, the Note, the Deed of <br /> Trust, and the Regulatory Agreement,(the"Loan Documents"). <br /> C. Concurrently herewith, the Assignee is acquiring the Property from the Assignor <br /> pursuant to a Grant Deed. <br /> D. Assignor now wishes to assign its rights, title and interest in and obligations under <br /> the Loan Documents, as amended hereby, to Assignee, and Assignee wishes to assume Assignor's <br /> rights and obligations under the Loan Documents. <br /> E. Assignee desires to release Assignor from all obligations in connection with the <br /> Loan Documents. <br /> F. The Assignee and the City desire to modify the Loan Documents as set forth <br /> herein. <br /> NOW, THEREFORE, in consideration of the foregoing, of the mutual promises of the <br /> parties hereto and for other good and valuable consideration the receipt and sufficiency of which are <br /> hereby acknowledged,the parties mutually agree as follows: <br /> .1. Assignment and Delegation by Assignor. Assignor hereby assigns to Assignee all of <br /> Assignor's rights and delegates to Assignee all of Assignor's obligations under the Loan <br /> Documents. <br /> 2. Acceptance of Assignment and Delegation. Assignee hereby accepts the above <br /> assignment and delegation and hereby assumes all of the rights, obligations, covenants, and <br /> agreements of Assignor under the Loan Documents. Any reference to Assignor in the Loan <br /> Documents described above shall be deemed a reference to Assignee. <br /> 3. Release of Assignor. Assignee hereby releases Assignor from all obligations imposed <br /> under the Loan Documents. <br /> 4. Payment of Obligations. Assignee agrees that any amounts due from Assignor pursuant <br /> to the Loan Documents shall be assumed by Assignee. <br /> 5. Modification of Loan Term. The term of the Loan and the Regulatory Agreement shall <br /> be extended to the date which is 55 years from the date of recordation of this Agreement(the <br /> "Maturity Date"). <br /> 6. Consent to Assignment. The City hereby consents to the assignment of the Loan <br /> Documents from Assignor to Assignee and hereby releases Assignor from all obligations <br /> imposed under the Loan Documents. <br /> 2 <br /> Assignment and Modification—750k HOME <br />