HomeMy WebLinkAboutASSIGNMENT AND ASSUMPTION OF THAT CERTAIN PARKING DECK AGREEMENT BY AND BETWEEN URBAN REDEVELOPMENT AGENCY OF AUGUSTA AND AUGUSTA, GEORGIA Assignment and Assumption
of that certain
Parking Deck Agreement
(this "Assignment and Assumption")
By and Between
Urban Redevelopment Agency of Augusta ("Assignor")
and
Augusta, Georgia
("Assignee")
WHEREAS, the Georgia Technology Authority ("GTA") and Assignor are parties to that
certain Parking Deck Agreement, dated as of July ?.P, 2017 (the "Agreement"), concerning the
construction, management and operation of an approximate 575-space parking deck to be
constructed on land owned by GTA; and
WHEREAS GTA and Assignor have agreed in the Agreement that the Assignor is
permitted to assign the Agreement to the Assignee; and
NOW, THEREFORE, the parties do agree as follows:
1. Each of the recitals set forth above are incorporated herein by reference
and are made a part of this Assignment and Assumption.
2. Assignor does hereby assign all of its rights and interest in the Agreement
to Assignee. This assignment shall operate to relieve the Assignor of responsibility for
the performance of Assignor's duties and obligations under the Agreement through
termination of the Agreement.
3. Assignee hereby assumes the Assignor's obligations to GTA, and all
rights and interests pursuant to the Agreement.
4. GTA hereby consents to the assignment of the Agreement from Assignor
to Assignee and releases the Assignor from all obligations under the Agreement.
5. This Assignment and Assumption may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, each of which,
when so executed, shall be deemed an original, but all of which together shall constitute
one and the same instrument.
6. Unless otherwise defined herein, any term used herein, the initial letters of
which are capitalized, shall have the same meaning and definition given to such term in the
Agreement.
7. This Assignment and Assumption shall be binding upon and inure to the
benefit of the parties hereto and their heirs, legal representatives, successors and permitted
assigns.
IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment and
Assumption as of the 20th day of July, 2017.
ASSIGNOR:
URBAN REDEVELOPMENT AGENCY OF
AUGUSTA
By:
Chairman 55-K
ASSIGNEE:
AUGUSTA, GEORGIA
By:
Mayor
1-0, 7
(Assignment and Assumption of Parking Deck Agreement)
Acknowledged and Consented to by:
GEORGIA TECHNOLOGY AUTHORITY
By:
Name: Calvin Rhodes
Title: Executive Director
(Assignment and Assumption of Parking Deck Agreement)