Laserfiche WebLink
EXHIBIT B <br />Assignment, Assumption, and Amendment to Purchase and Development Agreement <br />ASSIGNME\T, ASSUMPTION. AND AMEND-IE\T <br />TO PURCHASE AND DEVELOPMENT AGREEMENT <br />THIS ASSIGNME\T. ASSUMPTIOti AND AMENDMENT TO PURCHASE AND <br />DEVELOPMENT AGREETMENT (this "Assignment") is made effective as of the 12th day of <br />August. 2019 (the -Effective Date"). by and between INH PROPERTY MAtiAGE14IE`T. <br />INC.. a Minnesota corporation. d b a INH Properties. having its principal office at 175 71 <br />Avenue South. Waite Park. Minnesota 5633' (.-INH-). CROSSROADS POINTE SIA'. LLC. a <br />Mu' llnesota 1united liability company. having its principal office at 1'5 '`h Avenue South. Waite <br />Park. NIS 5638' ("Crossroads Pointe"). and MOUtiDS VIEW ECO\OMIC DEVELOPMENT <br />AUTHORITY. a public body corporate and politic under the laws of Minnesota. having its <br />principal office at 2401 TMounds Vle,,v Boulevard. MoundsView. Minnesota 55112 ("Seller") <br />RECITALS <br />A. INH and Seller have entered into that certain Purchase and Development <br />Agreement (tile ' Agreement ') for the purchase. sale. and development of certain <br />real property located in Ramsey County. State of Mu" Inesota. as legally described <br />in the Agreenielnt (the "Property-). <br />B. INH desires to assign the Aareelnnernt to Crossroads Pointe. and Crossroads Pointe <br />desires to accept such asslallnlent of the Agreement and to assume all obllaatlolns <br />of the Developer linden' the Agreement. ` <br />C. The parties also desire to amend certain terms and conditions of the as herein <br />provided. <br />D_ Capitalized teens used. but not otherxvise defined. in this Assiglunent shall have <br />the nleaninss ascribed to such terns in the Agreelnlent. <br />AGREEMENT <br />1. Recitals. The Recitals set forth above are true and collect in all material respects <br />and are by this reference ilcorporated into this Agreement. <br />2. Assignment. r\H hereby transfers. assiglrs and conveys to Crossroads Pointe all <br />of its rialnt. title and interest in and to the Agreement <br />3. Assumption. Crossroads Pointe hereby accepts this Assiglulnent and agrees to <br />assume all of I\H's obligations under the Agreement and to be bound by all of the tennis and <br />conditions Set forth therein. Crossroads Pointe agrees to indemnify and to hold INH llalnlless <br />against any losses. claims. damages. or liabilities arising out of or related to. or it any way <br />connected with Crossroads Pointe's performance linden' the Agreement or this :Assignment. <br />B-1 <br />604818v I M U205-46 <br />