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04060594 09/18/2024 09:54 AM RF: $43.00 Page 1 of 7 Electronically recorded in Boulder County Colorado. Recorded as received. ASSIGNMENT OF DETENTION POND MAINTENANCE AND LICENSE AGREEMENT (Delo Subdivision, City of Louisville) THIS ASSIGNMENT OF DETENTION POND MAINTENANCE AND LICENSE AGREEMENT is made and entered into this 3rd day of September , 2024 by and between the CITY OF LOLIISVILLE (the "City"), DELO APARTMENTS, LLC, a Colorado limited liability company ("Delo Apartments" or "Assignor"), and CT DELO, LLC, a Delaware limited liability company and HG DELO, LLC, a Delaware limited liability company (each an "Assignee" and collectively, "Assignees"). WHEREAS, the City and Delo Apartments entered into that Detention Pond Maintenance and License Agreement dated August 4, 2017 (the "Agreement"), which Agreement was recorded with the Boulder County Clerk and Recorder on August 23, 2017 at Reception No. 03610786; and WHEREAS, Section 3(b) of the Agreement requires Delo Apartments to inspect the Detention Pond and all facilities at least once every six months to ensure the -Detention Pond and all associated BMPs function properly under the conditions for which they are designed, and Section 3(c) of the Agreement requires Delo Apartments to submit Inspection Reports to the City; and WHEREAS, the City has not received Inspection Reports; and WHEREAS, Section 19 of the Agreement required Delo Apartments to post with the City and maintain a cash deposit in the amount of Ten Thousand Dollars ($10,000.00), for the purpose of Delo Apartments' faithful performance of its maintenance obligations under the Agreement, which cash deposit has not been made by Delo Apartments; and WHEREAS, Section 15 of the Agreement provides Delo Apartments may not assign the Agreement to any other party without the prior written approval of the City, and the City may require as part of any such approval that the successor execute its consent to such assignment to be bound by the terms and conditions of the Agreement and other applicable documents, and that such successor provide to the City a replacement Performance Guarantee prior to release of any Performance Guarantee then currently posted with the City; and WHEREAS, Delo Apartments has requested the City approve assignment of the Agreement to Assignees in connection with the sale of property benefitted by the Agreement; and WHEREAS, by this Agreement the City desires to approve such assignment and Assignees desire to accept such assignment, and each Assignee agrees to fulfill all obligations of the Agreement, including but not limited to the requirement to inspect the