ASSIGNMENT AND ASSUMPTION OF CONTRACTASSIGNMENT AND ASSUMPTION OF CONTRACT
KNOW ALL MEN BY THESE PRESENTS, that COVENANT PROPERTY
INVESTORS, LLC, a Georgia limited liability (hereinafter referred to as the "Assignor"), in
consideration of the sum of Ten and No/100ths Dollars ($10.00) and other good and valuable
considerations, to it in hand paid by SCI PELICAN WALK LLC, a Florida limited liability
company (hereinafter referred to as the "Assignee"), at or before the ensealing and delivery of
these presents, the receipt whereof is hereby acknowledged, has granted, bargained, sold,
assigned, transferred and set over, and by these presents does grant, bargain, sell, assign, transfer
and set over unto the Assignee, its successors and assigns, forever, that certain Purchase and Sale
Agreement between THE CITY OF CLEARWATER, FLORIDA, a municipal corporation of the
State of Florida, as Seller, and Assignor, as Buyer, entered into and effective on September 22,
2021, as amended thereafter by that certain First Amendment to Contract for Purchase of Real
Property entered into and effective on January 24, 2022 (hereinafter collectively referred to as
the "Contract") for the purchase and sale of certain real property located in Pinellas County,
Florida, which is more particularly described in Exhibit A attached hereto and made a part
hereof by reference as if fully set forth herein.
TO HAVE AND TO HOLD the same unto the Assignee, its successors and assigns,
forever; provided, however, that in the event that Assignee and the Seller fail to close, due solely
to a breach of the Contract by Assignee, within five (5) business days of the Closing Date
provided for in the Contract (as the same may be amended), this ASSIGNMENT AND
ASSUMPTION OF CONTRACT shall revert to Assignor, its successors and assigns, forever,
together with all rights attendant thereto and without any subsequently executed Agreements or
Amendment;; to the Contract.
The Assignee, by the acceptance hereof, hereby assumes the performance of all the terms,
covenants, obligations, and conditions imposed upon the Assignor pursuant to the Contract and
agrees to perform all the terms, covenants and conditions required it pursuant to the Contract in
all respects and with the same effect as though the Assignee had executed the Contract as the
buyer originally named therein.
[signature page to follow
[SIGNATURE PAGE TO ASSIGNMENT AND ASSUMPTION OF CONTRACT]
IN W]:TNESS WHEREOF, the Assignor and Assignee have hereunto caused this
Assignment and Assumption of Contract to be executed effective this / day of 1{ 1 ,
2022.
COVENANT PROPERTY INVESTORS, LLC, a
Georgia limited liability
By: AUAN+
Name: moo; M .
Title: 'PRE,,/OEn+t
"ASSIGNOR"
SCI PELICAN WALK LLC, a Florida limited
liability company
By:
Name:
Title:
2
Kevin Bupp
Managing Partner
"ASSIGNEE"
JOINDER AND CONSENT BY OWNER
THE CITY OF CLEARWATER, FLORIDA, a municipal corporation of the State of
Florida, as owner of the Property to be conveyed under the underlying Contract for Purchase of
Real Property by the City of Clearwater, Florida, hereby joins in the execution of this
Assignment to evidence its consent to the assignment contemplated herein, pursuant to the
provision therein contained. This consent to the Assignment shall not be a waiver of the right of
owner to require such consent to future or successive assignments.
APPROVED BY S LLER AND EFFECTIVE OWNER:
THIS/.? DAY OF ri / , 2022
Countersigned:
Frank Hibbard, Mayor
Approved as to form:
Laura Mahony, Senior Assi
City Attorney
THE CITY OF CLEARWATER, FLORIDA, a
municipal corporation of the State of Florida
By: 46-
Name: _' P .1 C.,060 &NO-,
Title: G` Aoi .!.A 4 ., ••c-.
Attest:
jL14-e--A/LIZAA-_-
Rosemarie Call, City Clerk
EXHIBIT A
Legal Description
Condominium Unit PUB of NORTH BEACH PLAZA CONDOMINIUM, a Condominium,
according to the Declaration of Condominium thereof, recorded in Official Records Book 19444,
Page 145, and any amendments thereto, and the plat thereof recorded in Condominium Plat Book
159, Page 91, of the Public Records of Pinellas County, Florida, together with its undivided
share in the common elements appurtenant thereto.
4