HomeMy WebLinkAboutAssignment of Mgmt toMobilia
ASSIGNMENT OF MANAGEMENT AGREEMENT AND PARKING
FACILITIES AND LEASE OF THE PLAZA PROPERTY
THIS AGREEMENT is made as of the 10th day of March, 1995, by ZAIDAN
HOLDINGS, INC., a Canadian corporation ("Assignor") in favor of MOBILIA, LTD., a
Delaware corporation, ("Assignee").
RECITALS:
A. Terry Evenson ("Evenson") and the Housing and Redemption Redevelopment
Authority in and for the City of Columbia Heights ("HRA ") entered into a certain Management
Agreement for Parking Facilities and Lease of the Plaza Property dated July 20, 1982, filed
February 9, 1983, as Document No. 607127 and Torrens Document No. 124953 (the
"Management Agreement") which, among other things, granted Evenson a leasehold interest and
right of first refusal in certain real property situated in Anoka County and described on Exhibit
A attached hereto, and the right to use and the option to purchase certain real property located
in Anoka County and described on Exhibit B attached hereto.
B. Pursuant to an Assignment of Management Agreement for Parking Facilities and
Lease of the Plaza Property dated June 27, 1988, Evenson assigned its rights in the Management
Agreement to Assignor.
C. Assignor entered into a certain Agreement Between the City of Columbia Heights
and Zaidan Holdings, Inc. for the operation of the parking ramp dated June 30, 1988 (the
"Parking Ramp Agreement").
D. Pursuant to a Purchase Agreement dated effective March 10, 1995 between
Assignor, as Seller, and Assignee as Purchaser, Assignor has agreed to assign to Assignee all
of Assignor's right, title and interest in, to and under the Management Agreement and all
modifications thereof to the date hereof, and under the Parking Ramp Agreement and all
modifications thereof to the date hereof (collectively referred to as the "Parking Agreements").
ASSIGNMENT:
In consideration of the foregoing, the respective covenants of Assignor and Assignee in
the Purchase Agreement, and for other good and valuable consideration, receipt of which is
hereby acknowledged:
1. Assignor hereby grants, assigns and transfer to Assignee all of Assignor's right,
title and interest in, to and under the Parking Agreements.
2. Assignor covenants, represents and warrants as follows:
(a) Assignor has the right to assign and transfer the Parking Agreements in the
manner aforesaid;
(b) The Parking Agreements are in full force and effect upon the terms and in
the form set forth in the copies thereof delivered herewith, and has not
been modified or amended.
(c) To Assignor's knowledge, no rate for parking charges has been established
with the HRA pursuant to the Parking Agreements.
IN WITNESS WHEREOF, Assignor has executed this Assignment the day and year first
above written.
ZAIDAN HOLDINGS, INC.
---~~
/---13Y'"~~~ --Z1
Gordon A wsumb
Its Executive Vice President
STATE OF MINNESOTA )
)ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this 10th day of March, 1995,
by Gordon Awsumb, the Executive Vice President of Zaidan Holdings, Inc., on behalf of the
corporation.
Notary Public
12775)
-2-