HomeMy WebLinkAboutAD04-048 - Other - Kent Station, LLC - Partial Assignment of Buyer's Interests in Purchase Agreement - 06/29/2004 JLL-01-2004 10:57 P.02/03
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PARTIAL ASSIGNMENT OF BUYER'S MEREST$IN PURCHASE AGREEMENT
This Partial Assignment of Buyer's Interests("Partial Assignment") is made and entered
into as of the 22Id day of June,2004, by and between KENT STATION,L.L.C.,a Washington
Limited Liability Company("Kent Station')and TARRAGON— KENT STATION PHASE I
L.L.C., a Washington Limited Liability Company("Tarragon—Kent Station").
Kent Station is the Developer under that certain Real Estate Purchase and Sale
Agreement entered into with The City of Kent,a municipal corporation(the"City"), dated as of
4 January 20,2004,as amended by Addendum One To Real Estate Purchase and Sale Agreement
(collectively the'`Purchase Agreement').
Pursuant to Paragraph G of the Purchase Agreement,the development of the land that is
the subject of the Purchase Agreement will be accomplished in phases. To this end,separate
parcel purchases are allowed under the Purchase Agreement. Tarragon—Kent Station has been
formed for the purpose of developing the first stage of the project contemplated in the Purchase
Agreement.
f Kent Station,therefore,hereby assigns to Tarragon—Kent Station, and Tarragon—Kent
Station hereby accepts the assignment of Kent Station's right,title and interest in the Initial
Takedown Parcel as defined in the purchase Agreement and assumes all of Developer's
obligations under the Purchase Agreement regarding the Initial Takedown Parcel that is
scheduled to close on or before June 30,2004. This assignment shall include all of Kent
Station's rights,title and interest and obligations under and with respect w the MPD and the
Development Agreement with respect to the purchase and acquisition of the Initial Takedown
Parcel, as those terms are defined in the Purchase Agreement.
In Witness Whereof,the patties hereto have entered into this Assignment as of the date
set forth above.
KENT STATION, L.L.C.,
A Washington Limited Liability Company
By: Tarragon L.L.C.,its Manager
L'IBy —
J epb D. Blatmer
Its: Manazer
Date. G = 9— oy
51097 oOn76U3' M.v02 CMG
JUN-29-2004 15�a5 �oee»ra-sera ..-.
JUL-01-2004 10'57 P.03iO3
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TARRAGON—KENT sTA=NPHASE L L.L.C„
A Washington Limited Liability Company
By'�
LII._T gon L.L.C.,a Washington United Liabiliry Company,
Its: Manager
oseph D. BlamerIts: _ Maier
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5100AM76"10SYM CMG
TOTAL P.03