HomeMy WebLinkAbout2024 - Assignment and Assumption Agreement - Holden at Southcenter, LLC / MG at Tukwila, LLC - 20240322000443instrument Number: 20240322000443 Document:A Rec: S306.50 Pagc-1
Record Datc:3/22/2024 11:47 AM
Electronically Recorded King County, WA
AFTER RECORDING MAIL TO:
Proskaucr Rosc LLP
One international Place
Boston, Massachusetts 02100
Attention: Sean T. BouIger, Esq.
CT NCS - 234416 -NCS
Document Title(s): (or transactions contained herein)
Assignment and Assumption Agreement
Reference Num be r(s) of Documents assigned or released:
20210816001162
Grantor(s): (Last narne first, then first name and initials)
Holden at Southcenter, LLC, a Delaware limited liability company
Granitee(s): (Last name first, then first name and initials)
MG at Tukwila, LLC, a Delaware limited liability company
Abbreviated Legal Description as follows: (i.e. lot/block/plat or section/township/range/quarter/quarter)
Ptn Tracts 4 & 5, Andover Industrial Park No. 1, Vol. 66, Pg. 36
Complete legal description attached as Exhibit A
Assessor's Property Tax Parcel/Account Number(s):
022300-0045
:Instrument Number: 20240322000443 Document:A 'Ree: S306,50 Page -2 of 4
Record .Date:3/22/2024 11:47 AM King County, WA
MFTE ASSIGNMENT AND ASSUMPTION AGREEMENT
FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the
undersigned, HOLDEN AT SOUTHCENTER, LLC, a Delaware limited liability company
("Seller"), hereby sells, transfers, assigns and conveys to MG AT TUKWILA, LLC, a Delaware
limited liability company ("Buyer"), all right, title and interest of Seller in and to the Multi -Family
Residential Property Tax Exemption Agreement, dated May 21,2021, between Seller and the City,
recorded as Instrument Number 20210816001162 in the Official Records of King County,
Washington (the "MFTE Agreement"),
This Assignment and Assumption (this "Agreement") is given pursuant to that certain
Purchase Agreement (the "Purchase Agreement") dated as of February 23, 2024, between Seller
and Buyer (or its predecessor in interest), providing for the sale of the Property. The covenants,
agreements, and limitations (including, but not limited to, the limitations provided in Sections 7,3,
7.4, 8 arid 10.2 or the Purchase Agreement) provided in the Purchase Agreement with respect to
the property conveyed hereunder are hereby incorporated herein by this reference as if herein set
out in full.
Buyer hereby accepts the foregoing assignment and agrees to assume and discharge, in
accordance with the terms thereof, all attic obligations of Seller under the MFTE Agreement, to
the extent the same arise on or Mier the date hereof,
This Agreement shall inure to the benefit of and shall be binding upon Seller and Buyer,
and their respective successors and assigns.
The rights, title and interest of Seller in the MFTE Agreement are conveyed "as is" without
representation or warranty, except as may bc sct forth in the Purchase Agreement, TO HAVE AND
TO HOLD all of said rights, title and interest unto Buyer, its successors and assigns, to its own use
forever.
This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective successors and assigns.
This Agreement may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which shall constitute one and the same document,
This Agreement shall, in all respects, be governed, construed, applied, and enforced in
accordance with the laws of the State of Washington,
[This space intentionally left blank]
Instrument Number: 20240322000443 Document:A Rcc: S306.50 Page -3 of 4
Record Date:3/22/2024 11:47 AM King County, WA
DATED: As of March , 2024
STATE OF ARIZONA
COUNTY OF MAJUCOPA
SELLER:
HOLDEN AT SOUTHCENTER, LLC, a Delaware
limited liability company
By:
N
'lliernenz
Title: Authorized Signatory
1 certify that I know or have satisfactory evidence that V. Jay Hicmenz is the person who appeared
before me, and said person acknowledged that he signed this instillment, on oath stated that he was
authorized to execute the instrument and acknowledged it as the Authorized Signatory of Holden
of Southeenter. LLC, a Delaware limited liability company, to be the free and voluntary act of
such party for the uses and purposes stated therein.
Dated March 2024.
4‘44; : -d4411, 4
' 77,5;251
Name:
Print Nam
NOTARY PUBLIC, Stale of Arizona
My appointment expires 4 17.0) z.(; e 5
Signature Page to MI.Th Assignment and Assumption Agreement
Instrument Number: 20240322000443 Document:A Rec: S30650 Page -4 of 4
Record Date:3/22/2024 11:47 AM King County, WA
BUYER:
MG AT TUKWILA, LLC, a Delaware limited
liability company
By:
STATE OF
COUNTY OF
I cenify that I know or have satisfactory evidence that Douglas Spear is the person who appeared
before me, and said person acknowledged that he signed this instrument, on oath stated that he was
authorized to execute the instrument and acknowledged it as the Authorized Signatory of MG at
Tukwila, LLC, a Delaware limited liability company, to be the free and voluntary act of such party
for the uses and purposes stated therein.
Na Doug. s pear
Title: Authorized Signatory
Dated March 13, 2024.
JENNIFER A VAL7E7rAl4ti"
NOTARY PUBLIC P89683
STATE OF WASHINGTON
COMMISSION EXPIRES
OCTOBER 19, 2027
Name:
Print Nan a.
NOTARY IJI3LIC, State o
My appointment expires
Signature Page to METE Assignment and Assumption Agreement