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WHEREAS, the Assignor proposes to assign, transfer and sell to Assignee a twenty-four percent (24. Need to assign your rights and duties under a contract?Learn more about the basics of an assignment and assumption agreement. This ASSIGNMENT AND ASSUMPTION OF MEMBERSHIP INTEREST (this. An assignment and assumption of lease is a legal real estate document that allows one party to transfer rights and obligations of a lease to another party. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the relevant Assigned Interest, (ii) the Assigned Interest is free and. Transfer of Agreement. 2.1. Transfer. A true copy of the Development Agreement is attached hereto as Exhibit B. C. Assignor 1 desires to assign its interest in the Lease to Assignee and. Assignment and Assumption. "Consenting Parties"), Departing Tenant wishes to assign and transfer its interest in the Lease and the Apartment and New Tenant wishes to assume.