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APP 2 8 X87 <br />BOGS <br />ASSIGNMENT OF CONTRACT FOR <br />CONSTRUCTION OF REQUIRED IMPROVEMENTS <br />THIS ASSIGNMENT OF CONTRACT, made and entered into this 34ljday of <br />, 1986 by and between THE BROADVIEW SAVINGS AND LOAN <br />COMPANY, an Ohio corporation, hereinafter referred to as "Assignee" and NORTH <br />BEACH ASSOCIATES, LTD., a Florida limited partnership, hereinafter referred to as <br />"Developer". <br />WITNESSETH: <br />WHEREAS, Developer and INDIAN RIVER COUNTY, a political subdivision of the <br />State of Florida, hereinafter referred to as "County" on November 28, 1984 made and <br />entered into a certain Contract for Construction of Required Improvements, <br />hereinafter referred to as "the Contract"; and <br />WHEREAS, the Contract was entered into in conjunction with a scheme of <br />development for certain land situated in Indian River County and then owned by <br />Developer; and <br />WHEREAS, Assignee is now the owner of said land; and <br />WHEREAS, Assignee wishes to assume all rights and obligations of Developer as <br />set forth in the Contract; and <br />WHEREAS, Developer wishes to assign to Assignee all rights and obligations of <br />Developer as set forth in the Contract; <br />NOW, THEREFORE, in consideration of the mutual covenants and promises herein <br />contained, Developer and Assignee agree as follows: <br />1. Assignee shall assume all rights and obligations of Developer as set forth in <br />the Contract effective the date hereof. <br />2. Assignee shall furnish a Performance Bond to County in accordance with <br />the terms and conditions of the Contract to replace the Performance Bond <br />previously furnished by Developer to County. <br />3. All terms and conditions of the Contract not expressly changed herein shall <br />continue in full force and effect. <br />4. Assignee and Developer expressly acknowledge that this Assignment is <br />subject to, and conditional upon, the approval of County. <br />IN WITNESS WHEREOF, Developer and Assignee have hereto set their hands and <br />seals on the day and year first above written. <br />ATTEST: <br />THE BROADVIEW SAVINGS AND LOAN <br />COMPAN7 <br />B• <br />Y• <br />Its:y Vi�uk' <br />NORTH BEACH ASSOCIATES, D., a F1a.Ltd.Prtshp. <br />BY ZAR R BEACH , its General Partner <br />By <br />Wa an�ii a <br />Its: Vice President <br />a p Ve n APPROVED:APRIL 28,:1987 <br />and legal sufficiency. INDIAN RIVER COUNTY BOARD OF COUNTY <br />By�w�.SL�a;. COMMISS ONERS <br />Bruce Barkett I <br />Asst. County Attorney Chairman <br />ATTEST:Clerk of Court <br />