HomeMy WebLinkAboutAssignment of Notice of Assessment Interest - Idaho CPACE
INSTRUMENT PREPARED BY AND
WHEN RECORDED, RETURN TO:
ASSIGNMENT OF NOTICE OF ASSESSMENT AND C-PACE LIEN AND ASSIGNMENT OF ASSESSMENT AGREEMENT
This Assignment of Notice of Assessment AND C-PACE LIEN AND assignment of ASSESSMENT AGREEMENT (this “Assignment”) is dated as of [MONTH] ___, 20__ by XXXX City/County, Idaho (“Assignor”),
to [CAPITAL PROVIDER] (“Assignee”).
For value received, Assignor hereby grants, assigns and transfers to Assignee, without recourse or warranty of any kind, express or implied, all of Assignor’s rights in, title to, and
interest under, that certain Notice of Assessment and C-PACE Lien, dated as of [___________], 20__, by [_____________] (“Property Owner”) and Assignor, recorded on [____________], 20__
as Instrument No. ___________ in the office of the records of XXXX County, State of Idaho (the “Notice of Assessment Interest”), and the Assessment Agreement dated as of [___________],
20__ (the “Assessment Agreement”), among Property Owner, Assignee and Assignor and attached to such Notice of Assessment Interest, together with the obligations secured by the C-PACE
Lien (as such term is as defined in the Assessment Agreement) and all other instruments, documents and certificates executed in connection therewith. Assignee hereby accepts all of
Assignor’s rights in, title to, and interest under the Assessment Agreement, the Notice of Assessment Interest and the C-PACE Lien, together with the obligations secured by the C-PACE
Lien and all other instruments, documents and certificates executed in connection therewith.
Consistent with Section 67-3808(4) of the Commercial Property Assessed Capital Expenditure Act, Chapter 38 of Title 67, Idaho Code, as amended, by accepting this Assignment, Assignee
agrees for the benefit of Assignor that Assignee shall be solely responsible for the billing and collection of the Assessment and for enforcing the obligation of Property Owner to pay
the Assessment described in the Assessment Agreement, including pursuing a foreclosure of the C-PACE Lien in accordance with Chapter 15 of Title 45, Idaho Code. Assignor shall have
no obligation to pursue such foreclosure on behalf of Assignee, or to otherwise participate in such foreclosure, except to the extent that any action on the part of Assignor or any official
of Assignor is required in order to allow Assignee to prosecute or effectuate the foreclosure under Chapter 15 of Title 45, Idaho Code, or to ratify or confirm any action of Assignee
taken in furtherance of the foregoing, as contemplated in Resolution No. _______ adopted by the Local Government on _______________. <The Assignee may assign any or all of its rights
under the Assessment Agreement without the consent of Assignor or the Property Owner, provided that the Assignee provides notice of the assignment to the Assignor and the Property Owner.
Signatures appear on following page
IN WITNESS WHEREOF, Assignor has executed this Assignment as of the day and year first above written.
“ASSIGNOR”
[LOCAL GOVERNMENT]
By:
Name:
Title:
STATE OF IDAHO)COUNTY OF ______________)On this _______ day of ______________, ________, before me, the undersigned, a Notary Public, in and for said State, personally appeared ______________________________________,
known to me, or identified to me on the basis of satisfactory evidence, to be the ____________________________, of the corporation that executed the instrument and that the foregoing
instrument was signed on behalf of said corporation by authority of a resolution of it's board of directors and acknowledged to me that such corporation executed the same.
WITNESS MY HAND AND OFFICIAL SEAL. (SEAL)
_______________________________________Notary Public
Residing at:Commission Expires:[seal]
“ASSIGNEE”
[CAPITAL PROVIDER]
By:
Name:
Title:
STATE OF _____________________)
COUNTY OF ___________________ )
On this _______ day of ______________, ________, before me, the undersigned, a Notary Public, in and for said State, personally appeared ______________________________________, known
to me, or identified to me on the basis of satisfactory evidence, to be the ____________________________, of the corporation that executed the instrument and that the foregoing instrument
was signed on behalf of said corporation by authority of a resolution of it's board of directors and acknowledged to me that such corporation executed the same.
WITNESS MY HAND AND OFFICIAL SEAL. (SEAL)
_______________________________________Notary Public
Residing at:Commission Expires:
EXHIBIT A
LEGAL DESCRIPTION
[INSERT]
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