Release of Assignor. Upon recording of this Assignment or a memorandum of this Assignment, Assignor shall be fully and completely released from any and all obligations under the Redevelopment Agreement [with respect to the Subject Property], after which time the City’s remedies for an Assignee default hereunder shall be directly against Assignee pursuant to the terms hereof, and in no event shall the City’s enforcement against Assignee affect Assignor’s rights under the Redevelopment Agreement.
Appears in 3 contracts
Sources: Tax Increment Financing Redevelopment Agreement, Tax Increment Financing Redevelopment Agreement, Tax Increment Financing Redevelopment Agreement