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ASSIGNMENT OF fRANCHISE RIGHTS
.THIS AGREEMENT is entered into to be effective 'for all purposes as of the 1st day of
January, 1993 by and between TAG REALTY, INC.., a Texas corporation ("TAC"), and
AMBERLAKE HOMEOWNERS' ASSOOCIATION, INC., a Texas. non-profit corporation
("Amberlake").
RECITALS
A. The City: of College Station,-Texas (the "City") has passed, adopted and approved.
Ordinance No. 1991 (the "Ordinance"), which Ordinance granted to TAC the right to maintain
'certain irrigation'pipetines and. appliances therein. described.,
B TAC and Amberlake desire to effectuate an assignment by TAC to Amberlake of
all of the rights and benefits granted to TAC pursuant to the Ordinance and an assumption by
Amberlake of the. obligations end duties of TAC .pursuant to the Ordinance.
ACaHttMtN
NOW, ..THEREFORE, for and in .consideration of Ten Dollars ($10.00), the mutual
covenants .:herein contained,- and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged and confessed, TAC and Amberlake hereby agree
as follows:
1. TAC hereby transfers, sells,. assigns and conveys to Amberlake the franchise
granted to TAC pursuant to the Ordinance, together. with all of the rights, powers and benefits
obtained by TAC pursuant to the Ordinance. TAC agrees, from time to time upon request, to
execute and deliver to .Amberlake such .additional instruments and. agreements as may be
necessary or desirable to more fully evidence or effectuate such assignment by TAC.
2. Amberlake hereby assumes and agrees to perform all. of the duties and obligations:
of TAC under the Ordinance arising from and after the effective date hereof.
3. This Agreement shall be binding.. upon and inure to the. benefit of TAC and
Amberlake and their respective.. successors, legal representatives and assigns.
IN WITNESS WHEREOF, TAC and Amberlake have executed this Agreement to be
effective for all purposes as of the date first written above.
..TAC REALTY, INC., a Texas corporation
By:
Keith H. Kuttler,
Executive Vice President
AMBERLAKE .HOMEOWNERS' ASSOCIATION,
a Texas non-profit. corporation.
By: ~~
Keith H. Kuttler, President
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