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ASSIGNMENT, ASSUMPTION AND CONSENT AGREEMENT <br /> THIS ASSIGNMENT, ASSUMPTION AND CONSENT AGREEMENT ( this <br /> "Agreement" ) is made and entered into as of the 28th day of <br /> MARCH ► 1988, by and between REDLANDS FINANCIAL SERVICES, <br /> INC. , a California corporation ( "RFS") , H.G.H. PROPERTIES, a <br /> California Limited Partnership ( "H.G.H. " ) and THE REDEVELOPMENT <br /> AGENCY OF THE CITY OF REDLANDS ( "the Agency" ) a public body <br /> corporate and politic. <br /> RECITALS <br /> A. The Agency has heretofore entered into that certain <br /> "Redevelopment Disposition and Development Agreement (Redlands <br /> Park Plaza Project) dated April 7, 1987, by and between the <br /> Agency and H.G.H. as the "Redeveloper" thereunder . Said <br /> Agreement is hereinafter referred to as the "Redevelopment <br /> Agreement" . The "real property which is the subject of the <br /> Redevelopment Agreement is referred to therein and in this <br /> Agreement as the "Site" . <br /> B. H.G.H. desires to assign to RFS all of its right, title <br /> and interest in and to the Redevelopment Agreement and the Site <br /> and RFS desires to accept such assignment <br /> C. The Redevelopment Agreement provides that the <br /> "Redeveloper" thereunder shall not assign all or any part of the <br /> Redevelopment Agreement or the Site without the prior written <br /> approval of the Agency. <br /> D. The purposes of this Agreement are to evidence ( i ) the <br /> assignment by H.G.H. of all its right, title and interest in and <br /> to the Redevelopment Agreement to RFS; ( ii ) the approval by the <br /> Agency of the sale by H.G.H. to RFS of the Site and the <br /> assignment of the Redevelopment Agreement; and ( iii ) the <br /> assumption and acceptance by RFS of all obligations under the <br /> Redevelopment Agreement . <br /> NOW, THEREFORE, for good and valuable consideration, receipt <br /> of which is hereby acknowledged, the parties hereto do hereby <br /> agree as follows: <br /> 1. H.G.H. hereby assigns to RFS all of H.G.H. ' s right, <br /> title and interest in and to the Redevelopment Agreement and RFS <br /> hereby agrees to accept such assignment and to assume all of the <br /> rights and obligations of the Redeveloper under the Redevelopment <br /> Agreement with respect to the Site upon the conveyance to RFS by <br /> H.G.H. of the Site. RFS further agrees to keep and perform all <br /> covenants, conditions and provisions of the Redevelopment <br />