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ASSIGNMENT AND ASSUMPTION OF LEASE
<br />THIS ASSIGNMENT AND ASSUMPTION OF LEASE (this "Assignment"), is made as
<br />of the 1st day of January, 2021 (the "Effective Date"), by and between New Creations Childcare
<br />and Learning Center, Inc., a Minnesota corporation ("Assignor"), NCCC, LLC, a Minnesota
<br />limited liability company ("Assignee"), and City of Lino Lakes, a Minnesota municipal
<br />corporation, and/or its assigns ("Landlord").
<br />RECITALS
<br />WHEREAS, Assignor is the tenant under that certain Lease Agreement dated July 1, 2014
<br />by and between Landlord and Assignor, as amended from time -to -time (collectively, with the
<br />amendments, the "Lease"), pursuant to which Lease, Landlord has demised to Assignor a portion
<br />of that certain premises located at 620 Town Center Parkway, Lino Lakes, MN, as specifically
<br />described in the Lease (the "Property").
<br />WHEREAS, Assignor desires to assign to Assignee and Assignee desires to assume from
<br />Assignor all of Assignor's rights, title, and interest and liabilities in, to and under the Lease.
<br />WHEREAS, the Lease contains a covenant on the part of Assignor not to assign or transfer
<br />the Lease nor sublet the Property without Landlord's prior written consent.
<br />AGREEMENT
<br />NOW, THEREFORE, in consideration of the foregoing recitals and other good and
<br />valuable consideration, the mutual receipt and sufficiency of which are hereby acknowledged, the
<br />parties hereto hereby agree as follows:
<br />1. The foregoing recitals are incorporated as if fully set forth herein.
<br />2. As of the Effective Date, Assignor hereby grants, assigns, transfers and conveys to
<br />Assignee, its successors and assigns, all of Assignor's rights, title, interest and liabilities in, to and
<br />under the Lease and the Property for the balance of the term of the Lease (including any extensions
<br />and renewals thereof).
<br />3. As of the Effective Date, Assignee hereby expressly assumes Assignor's rights,
<br />title, interest and liabilities in, to and under the Lease and becomes liable for the full and timely
<br />performance of all obligations, liabilities and covenants arising under the Lease from and after the
<br />date hereof.
<br />4. Assignee hereby indemnifies and holds Assignor harmless from and against any
<br />and all claims, expenses, costs, obligations, or other liabilities with respect to the Lease, arising
<br />out of or with respect to events occurring from and after the Effective Date. The foregoing
<br />indemnification obligation shall survive the delivery of this instrument.
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