HomeMy WebLinkAboutBlack Hawk Exchange, Inc.-Approval Assignment-10.13.2008 lb -13- F
APPROVAL OF ASSIGNMENT
City of Waterloo, Iowa, ("Purchaser"), hereby acknowledges and approves
the transfer and assignment of right, title and interest in and to (i) the
Relinquished Properties located at 218-220 West 2nd Street and 224-226 West
2nd Street, Waterloo, IA and (ii) the Purchase Agreement relating to the
Relinquished Property from the Exchanger to Black Hawk Exchange, Inc.
Purchaser is approving and accepting this Assignment for the sole
purpose of fulfilling its obligations under the Purchase Agreement. Purchaser
agrees to accept a deed to the Relinquished Property issued directly to the
Purchaser by the Exchanger. Purchaser further agrees that following the date of
closing of the Purchase Agreement ("Transfer Date"), Black Hawk Exchange, Inc.
shall have no personal liability to Purchaser for any claims under the Purchase
Agreement, or any other agreements relating to Relinquished Property, and that
Purchaser shall enforce any rights it may have under any of said agreements
solely against the Exchange-.
Purchaser indemnifies Black Hawk Exchange, Inc. against any liability or
costs or expenses incurred as a result of Black Hawk Exchange, Inc. acquiring or
maintaining beneficial and/or legal ownership of the Relinquished Property, or
possession thereof, except for any liability arising from Black Hawk Exchange
Inc.'s own acts.
CITY OF WATERLOO, IOWA
BY:Ys'rr0 k1u,4-14-
ITS:
Dated: /"-r 3 w a
ACCEPTANCE OF ASSIGNMENT
Black Hawk Exchange, Inc. hereby accepts this Assignment.
BLACK HAWK EXCHANGE, INC.
By:
Barbara J. Mostek, President
Dated: