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Recording Requested By <br />Fidelity National Tide <br />RECORDING RE, QIJESTED BY <br />AND WHEN RECORDED MAIL ,rO: <br />F <br />LIN <br />u l [' <br />lowz�j <br />A-2015-084 <br />Recorded in Official Records, Orange County <br />Hugh Nguyen, Clerk-IRecorder <br />195.00 <br />*$ R 0 0 0 8 9 2 9 2 0 2$ <br />2016000637420 8.00 am 12115116 <br />47 NC -5 Al2 A30 F14 50 <br />0.00 0.00 0.00 0.00 17T00 0.00 0.00 0.00 <br />ASSIGNMENT AND ASSUMPTION OF <br />AMENDED DEVELOPMENT AGREEMEN <br />AND CONSENT OF CITY <br />This Assignment and Assumptioia of Development Agreement and Consent of the <br />City of Santa Ana ("Assignment") is entered into as of May 5, 2015 (the "Effective Date"), by <br />and between VDC AT THE MET, LLC, a California limited liability company (the <br />"Assignor"), and LEGADO AT THE MET, LLC, a California limited Iiability company (the <br />"Assignee"). <br />RECITALS <br />A. As of the Effective Date, Assignor has conveyed to Assignee all of its right, title <br />and interest in and to that certain real property Iocated at 200 East First American Way, in the <br />City of Santa Ana, County of Orange, State of California, as more particularly described in <br />Exhibit "A" attached hereto and incorporated herein by this reference (the `Benefited Land"). <br />B. From and after the Effective Date, Assignor desires to assign and transfer to <br />Assignee all of Assignor's right, title and interest.in, to and obligations under the Amended <br />Development Agreement dated April 16, 2012, which was adopted by City of Santa Ana <br />Ordinance No. NS -2831 (as 'defined below), related to the Benefited Land and to evidence <br />Assignee's assumption of Assignor's obligations and liabilities under the Amended Development <br />Agreement, all upon the terms and conditions set forth below. As used herein, the "Amended <br />Development Agreement" shall collectively mean and refer to that certain development <br />agreement and the amendments thereto identified in Exhibit "B" attached hereto and <br />incorporated herein by this reference. <br />C. On September 3, 2013, the Santa Ana City Council tentatively approved a Second <br />Amended Development Agreement with First Rock Santa Ana, LLC (referred to herein as "First <br />Rock"), which would only become effective upon the close of escrow on the Benefited Land to <br />First Rock. However, the Benefited Land was never sold to First Rock, but rather was purchased <br />by the Assignee. <br />AGREEMENT <br />NOW THEREFORE, for good and valuable consideration, the receipt and <br />sufficiency of which are hereby acknowledged, Assignor and Assignee agree as follows: <br />FIDELITY NATIONALTITLE INSURANCE <br />COMPANY HAS RECORDED THIS INSTRUMENT <br />BY REQUEST AS AN ACCOMMODATION ONLY <br />AND HAS NOTEXAMIINED IT FOR REGULARITY <br />AND SUFFICIENCY ORAS ITS EFFECT UPON <br />MBISCRNETHENERTYTHAT <br />YEDEIBDERI <br />