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Consent
to Assignment Agreement
THIS AGREEMENT made on _________________,20____
BETWEEN:
____________________________________________
Original Purchaser (the "Assignor”)
AND:
____________________________________________
New Purchaser (the “Assignee”)
AND:
1100 GEORGIA PARTNERSHIP, 1701 – 1166 Alberni Street, Vancouver, British Columbia
V6E 3Z3
(the “Vendor”)
WHEREAS: -
By a contract of purchase and sale dated _____________________, 20___ between
the Vendor and the Assignor and all written addendums, amendments and modifications
thereto (the “Contract”), the Assignor agreed to purchase from the Vendor the
Strata Lot referred to as Strata Lot ______, being Unit No. ______, ________________________
Street, Vancouver, British Columbia, as more particularly described in the Contract;
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By and agreement dated for reference the ____ day of _________, 20___, (the "Assignment"),
an executed copy of which is delivered to the Vendor herewith, the Assignor has,
subject to obtaining the consent of the Vendor, to assigned all of the Assignor’s
right, title, and interest in and to the Contract including the benefit of the
Deposits as therein defined exclusive of any interest accrued thereon to the Assignee
as of _____________________, 20____ (the “Effective Date”); and
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The Assignor herein has applied to the Vendor for the Vendor’s consent to such
assignment;
NOW THEREFORE in consideration of
the covenants, conditions and agreements hereinafter reserved and contained on
the part of the parties, the parties agree as follows and the sum of $_______________
now paid by the Assignor to the Vendor:
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As of and from the Effective Date, Assignee assumes all obligations of the Assignor
under the Contract and agrees with the Assignor and the Vendor to observe and
perform as and when required the terms, covenants and conditions contained in
the Contract on the part of the purchaser to be observed and performed.
-
The Assignor acknowledges and agrees with the Vendor that notwithstanding the
Assignment the Assignor remains liable for all of the obligations of the purchaser
pursuant to the Contract and nothing herein shall operate so as to release or
diminish such liability and obligations.
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Assignor and Assignee represent and warrant to the Vendor that the Assignee [__is
/ is not__] a non-resident of Canada within the meaning of the Income Tax
Act (Canada)
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Assignor acknowledges and agrees that from and after the Effective Date:
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the Vendor may deal directly with the Assignee in regard to the Contract and the
Strata Lot and may modify or amend the Contract without the consent of the Assignor
without in any way diminishing the liability of the Assignor under the Contract
as may be amended or modified; and
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the Deposits and all interest accrued there are solely for the benefit of the
Assignee and the Assignor hereby releases any claim thereon.
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The Assignor and Assignee agree that the interest accrued on the Deposits to the
Effective Date shall be for the benefit of the Assignee and shall be retained
in trust by the Vendor's solicitors to be dealt with in accordance with the terms
of the Contract.
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The Assignor and Assignee acknowledge and agree by giving its consent pursuant
to this Agreement, the Vendor does not acknowledge or approve any of the terms
of the Assignment as between the Assignor and Assignee except for the assignment
of the Contract itself.
-
In reliance upon the covenants and agreements herein contained of the Assignor
and Assignee in Section 3 hereof, the Vendor hereby consents to the within assignment
of the Contract from the Assignor to the Assignee as of and from the Effective
Date, provided that this consent is given upon the express understanding that
nothing herein shall abrogate the obligations of the Assignee to obtain the consent
of the Vendor to any further assignment of the Contract.
-
This Assignment shall enure to the benefit of and be binding upon the parties
and their respective successors and assigns.
IN WITNESS WHEREOF the parties have executed this agreement as of the day and
year first above written.
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_______________________________
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______________________________
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Witness
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[Assignor]
Print Name: ____________________
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Country of Residence: __________________
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_______________________________
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______________________________
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Witness
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[Assignee]
Print Name: ____________________
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Country of Residence: __________________
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per
1100
GEORGIA LIMITED PARTNERSHIP
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