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RELEASE AND ASSIGNMENT <br />IN CONSIDERATION of the sum of Four Thousand Two Hundred <br />and Eighty Dollars ($4,280.00), receipt of which is hereby ack- <br />nowledged, the City of Redlands, a Municipal corporation, does <br />hereby forever release and discharge the Glens Falls Insurance <br />Company, a New York corporation, its successors and assigns, <br />from any and all claims, demands, causes of action whatsoever, <br />that the City of Redlands now has or may hereafter have by reason <br />of Glens Falls Insurance Company Bond Nos. 91-94-69 and 91-94-62. <br />IN FURTHER CONSIDERATION of the aforesaid payment, the <br />City of Redlands hereby assigns, transfers, and sets over unto <br />the Glens Falls Insurance Company, a corporation, any and all <br />claims which the City of Redlands has against Jack R. Handy and <br />Evan T. Jenkins, a co -partnership, doing business as Campus Street <br />Apartments, Jack R. Handy, an individual, or Evan T. Jenkins, <br />an individual, for the completion of offsite improvements in <br />Tract 6904, City of Redlands, and hereby constitutes and appoints <br />the said Glens Falls Insurance Company its true, lawful and <br />irrevocable attorney, to demand, ask for, receipt for, and en- <br />force payment, at the expense of said Glens Falls Insurance <br />Company, to sue for said claims, either in the name of the City <br />of Redlands or in the name of Glens Falls Insurance Company as <br />asignee. <br />This release and assignment shall become effective upon <br />payment to the City of Redlands of $4,280.00. <br />Dated this 1, day of , 1966. <br />CITY OF RE DS <br />)a zil) t�_ <br />ayor <br />R. P . Merritt, J 9 <br />ity Manager <br />