Assignment and Assumption Agreement for MA Property Note between O'Donnell Acquisitions, LLC and OD FDX Massachusetts, LLC

Contract Categories: Business Finance › Assignment Agreements
Summary

O'Donnell Acquisitions, LLC assigns its rights and obligations under a property note dated November 21, 2011, with an original amount of $100,100, to OD FDX Massachusetts, LLC. From the date of this agreement, OD FDX Massachusetts, LLC assumes all obligations under the note, and O'Donnell Acquisitions, LLC is released from further liability for the loan amount and future interest, except for interest accrued up to the date of transfer. The assignment is made without recourse or warranty. The holder of the note is JDO Family Limited Partnership.

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EX-10.14 11 d264756dex1014.htm ASSIGNMENT AND ASSUMPTION OF MA PROPERTY NOTE Assignment and Assumption of MA Property Note

Exhibit 10.14

ASSIGNMENT AND ASSUMPTION OF MA PROPERTY NOTE

 

Maker of Note:

   

O’DONNELL ACQUISITIONS, LLC

3 San Joaquin Plaza

Newport Beach, California 92660

Assignee:

   

OD FDX Massachusetts, LLC

3 San Joaquin Plaza

Newport Beach, California 92660

Note:

   

Date:

    November 21, 2011

Original Amount:

    $100,100

Holder:

    JDO Family Limited Partnership

For good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Maker of the Note, a copy which is attached hereto as Exhibit A, transfers and assigns the Note to Assignee and Assignee hereby assumes Maker’s obligations under the Note from the date hereof. Pursuant to the terms of the Note, Maker shall be released from its obligations under this Note for the Loan Amount and all interest accrued from the date hereof. Maker shall remain obligated to pay all accrued and unpaid interest through 12:01 a.m. on the date hereof. This assignment is made WITHOUT RECOURSE OR WARRANTY, EXPRESS OR IMPLIED.

Executed this 23rd day of February, 2012.

 

O’DONNELL ACQUISITIONS, LLC
By:             /s/  Douglas D. O’Donnell        
Name:       Douglas D. O’Donnell

Title:

    

 

OD FDX MASSACHUSETTS, LLC
By:             /s/  Douglas D. O’Donnell        
Name:       Douglas D. O’Donnell

Title:

    

 

JDO FAMILY LIMITED PARTNERSHIP
By:             /s/  Douglas D. O’Donnell        
Name:       Douglas D. O’Donnell

Title: