Assignment and Assumption Agreement between Spanish Broadcasting System, Inc. and SBS Miami Broadcast Center, Inc.

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Summary

Spanish Broadcasting System, Inc. is transferring all its rights and obligations under a Purchase and Sale Agreement with 7007 Palmetto Investments, LLC to SBS Miami Broadcast Center, Inc. This means SBS Miami Broadcast Center, Inc. will now take over the contract, including any deposits already paid, and will be responsible for fulfilling all terms of the original agreement. The assignment is effective as of October 25, 2006.

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EX-10.4 5 g03897exv10w4.htm EX-10.4 ASSIGNMENT & ASSUMPTION AGREEMENT EX-10.4 Assignment & Assumption Agreement  

ASSIGNMENT AND ASSUMPTION OF AGREEMENT
     For Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, SPANISH BROADCASTING SYSTEM, INC., a Delaware corporation (“Assignor”), does hereby assign, transfer and convey unto SBS MIAMI BROADCAST CENTER, INC., a Delaware corporation (“Assignee”), all right, title and interest of Assignor in and to that certain Agreement for Purchase and Sale dated August 24, 2006 (the “Agreement”) by and between 7007 PALMETTO INVESTMENTS, LLC, a Florida limited liability company (“Seller”), and Assignor, as amended, including all deposits paid thereunder.
     Assignee joins in this Assignment for the purpose of assuming any and all of the obligations of Assignor under the Agreement.
     IN WITNESS WHEREOF, this Assignment has been duly executed by Assignor and Assignee as of this 25th day of October, 2006.
                     
            Assignor:    
 
                    
Signed, sealed and delivered
in the presence of:		        
SPANISH BROADCASTING SYSTEM,
INC., a Delaware corporation
 
                    
/s/ Juan Garcia 
      By: /s/ Raul Alarcon    
               
Print Name:
          Name: Raul Alarcon
 
 
 
         Title: President & CEO
/s/ Ivette Davidson 
                
                 
Print Name:
            [SEAL]    
 
                   
 
                    
            Assignee:    
 
                    
            SBS MIAMI BROADCAST CENTER,
INC., a Delaware corporation		    
 
                    
/s/ Juan Garcia 
      By:   /s/ Ral Alarcon     
                 
Print Name:
              Name: Raul Alarcon  
 
                   
 
              Title: President & CEO    
/s/ Ivette Davidson 
                
                 
Print Name:
          [SEAL]