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Assignment and Assumption. Assignor hereby assigns to Assignee, and Assignee hereby <br />assumes from Assignor, all rights and obligations of the Developer, as such term is defined <br />and used in the Development Agreement, including, without limitation, the obligation to post <br />security for the benefit of the City of Orono. <br />2. Representations; Indemnification. Assignor represents that there is currently no default under <br />the Development Agreement by any party thereto, and agrees to indemnify and hold harmless <br />Assignee from any claims or causes of action arising prior to the date hereof or out of work <br />done by or at the direction of Assignor prior to the date hereof. Assignee likewise agrees to <br />indemnify and hold Assignor harmless from any claims or causes of action arising under the <br />Development Agreement on and after the date hereof, except for any claims or causes of <br />action arising out of work done by or at the direction of Assignor prior to the date hereof. <br />3. Counterparts. This instrument may be executed in any number of counterparts, which, when <br />taken together, constitute a complete and original instrument. <br />IN WITNESS WfIEREOF, the parties hereto have caused this Assignment to be executed as of <br />the day and year first above written. <br />RYAN COMPANIES U <br />By: Timothy M.'G <br />Its: Vice President <br />STATE OF MINNESOTA <br />) ss <br />COUNTY OF HENNEPIN <br />This instrument was executed before me this Lday of Septum er, 2016, by Timothy M. Gray, Vice <br />President of Ryan Companies US, Inc., a Minnesota corporati n, ehalf of corporation/ <br />Notary Public <br />. 9 notary Public -Minnesota <br />�MY Commission Expires Jan 31, 2020 <br />182 <br />