HomeMy WebLinkAboutEasements - 9/6/2002, Assignment & Release of Collateral Assignment, Bank One Trust Co., N.A. F. ANN RODRIGUEZ, RECORDER DOCKET: 11879
'r RECORDED BY: D_' PAG' 1728
DEPuTY RECORDERNO. _,I PAGES: 2
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4
7864 PE6 �, SEQUENCE: 20021730513
SOROV
09/06/2002
AS
TOWN OF ORO VALLEY 4BI Oft: 14.40
11000 N LA CANADA
ORO VALLEY AZ 85737 MAIL
AMOUNT PAID $ 8.00
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ASSIGNMENT AND RELEASE OF COLLATERAL ASSIGNMENT
THIS ASSIGNMENT AND RELEASE OF COLLATERAL ASSIGNMENT (the
"Assignment and Release")is executed this 3rd day of September,2002,by BANK ONE
TRUST COMPANY,N.A.,a national banking association(Beneficiary"),for the benefit
of the Town of Oro Valley,an Arizona municipal corporation("Town").
RECITALS
A. Pursuant to a Lease Purchase Agreement dated as of December 1, 1989, and
recorded in the records of the Pima County,Arizona(the "County Records") on
December 14, 1989, as Docket 8684, Page 1614, and re-recorded to include
unintentionally omitted legal descriptions on July 13,1990 as Docket 08829,Page
0080,Sequence No.90084397(the"Original Lease Purchase Agreement"),Town
Assigned, transferred and set over to Valley National Bank ("Trustee") for the
benefit of the owners of certain bond certificates,all of its rights,title and interest
in and to the Lease, the Leased Property, and Lease Payments and the
Prepayments(as defined in the Trust Agreement), to be applied and exercised as
provided in the Trust Agreement.
B. Beneficiary has succeeded to the interests of Trustee in and to the Lease Purchase
Agreement. The Lease Purchase,the Bonds and the Obligations have been paid
in full. Beneficiary desires to reassign to the Town all of its right, title and
interest in and to the Lease and any and all supplements thereto and all rents and
other sums payable thereunder, thereby releasing and re-conveying to Town any
and all interests collaterally assigned by Town under the Assignment and any and
all interest in or to Premises.
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AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged:
1. The recitals set forth above are made a part of this Assignment and Release.
2. Beneficiary hereby grants, bargains, sells, assigns, transfers and sets over unto
the Town, its successors and assigns, all of its right, title and interest in and to
the Lease Purchase and any and all supplements thereto and all rents and other
sums payable thereunder to have and to hold the same unto the Town, its
successors and assigns, forever.
3. In light of the assignment set forth in Paragraph 2, above, the Beneficiary has
no further right, title or interest in and to the Premises, and the Premises are
released from any lien that may have been created by recordation of the
Assignment.
4. This Assignment and Release is made without recourse and without any
representation or warranty of any kind (express, implied or statutory).
IN WITNESS WHEREOF, Beneficiary has executed and delivered this Assignment on
the date first above written.
BANK ONE TRUST COMPANY,N.A., a
National Banking Association, as Trustee
By; ._ ->_
Name: Brenda D. Black, Vice President
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