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Assignment Contract - 5541 S Peoria St, Chicago, IL 60621.pdf

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Description

DocuSign Envelope ID: 455CE1ED-CD97-472E-AD75-70AEF745E89E ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT (“Assignment”) by and between Odai Ammar (“Assignor”), and Lofty Holding 5541 S Peoria Street LLC (“Assignee”). Each of the aforesaid entities is a “Party” and collectively are the “Parties.” A. The Assignor is the Purchaser under that certain Contract to Purchase Real Estate dated: October 18th, 2021 (“Contract”) by and between Assignor, as Purchaser and Seller

Extracted Content

DocuSign Envelope ID: 455CE1ED-CD97-472E-AD75-70AEF745E89E ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT (“Assignment”) by and between Odai Ammar (“Assignor”), and Lofty Holding 5541 S Peoria Street LLC (“Assignee”). Each of the aforesaid entities is a “Party” and collectively are the “Parties.” A. The Assignor is the Purchaser under that certain Contract to Purchase Real Estate dated: October 18th, 2021 (“Contract”) by and between Assignor, as Purchaser and Seller for, the purchase of the parcel of real estate commonly known as 5541 S Peoria Street, Chicago, IL 60621 (The “Property”). A true copy of the Contract is attached hereto. B. The Purchaser (Assignor) shall assign and Assignee shall accept assignment of all of Purchaser’s/Assignor’s rights under the Contract. C. Purchaser/Assignor shall delegate and Assignee shall accept delegation of all of Purchaser’s/Assignor’s duties under the Contract. NOW THEREFORE, in consideration of the mutual promises made hereunder, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Assignor hereby assigns to Assignee of all Assignor’s ri