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<br />03/14/2003 11:44 <br /> <br />8139731188 <br /> <br />BILLNYEC21 <br /> <br />PAGE 01 <br /> <br />Mar 14, 2003 '0: 34AM TOM MCALVANAH <br /> <br />No,1719 P,2 <br /> <br />. <br /> <br />ASSIGNMENT <br /> <br />THIS AGREEM"fiNT is entered into this _ day of . A.D,. 2003 by and <br />between WILLIAM F. NYE and ANDREA NYE. his wife, hereinafter referred to as "'NYE", and <br />the CITY OF ZEPHYR HILLS, a Florida municipal corporation, hereinafter referred to as the <br />"CITY". <br />WHEREAS, NYE, has constructed a restaurant known as the Gulden Conal on US Highway <br />301 North, and <br />WHEREAS, the CITY has required NYE to give to the CITY, as put of iu site plan, a <br />roadway, which will be ,;onsU1lCted parallel to US Highway 301, and <br />WRERHAS. as a result of the construction, there are Transportation Impact Fees "TIF" due <br />and Owing to the CITY, and <br />WHEREAS, NYE is eager to have a Certificate of Occupancy i&5ucd by 1he CITY, and <br />WHEREAS. the CITY and the Lessee ofNYE have applied for a monies from a Community <br />Development Block GTlInt fund, known as CDBG Agreement No.: 03DB-IA-08-61-02-E "the <br />Grant". in the amount of Seven Hundred Thousand Dollars ($700,000.00), to help defray the cost <br />of constructing and acquiring the frontage road that runs parallel to US Highway 301, a portion of <br />which traverses the fron'~ portion ofNYE's property, and <br />WHEREAS, the CITY wisbes to issue the Certificate of Occupancy to NYE, in return for <br />a partial assignment by tiYE of their rights in the GIant, providing for acquisition of roadway, which <br />the CITY hIlS received confinnation of the approval of said Grant <br />NOW THEREFORE, for the mutual covenants and promises contained herein and other <br />good and valuable consideration, receipt of which is acknowledged, the parties hereinafter agree <br />as follows: <br />1. NYE doe~ hereby;,agree to assign all of their right, title and interest in the proceeds <br />of the Graut up to the amount of monies due the CITY for the construction project, in particular the <br />TIF. <br /> <br />2. The CITY agrees to issue to mE and their Lessee, a Certificate of Occupancy to <br />operate the restaurant knc:rwn as the Golden Coral, and said Certificate of Occupancy shall be issued <br />upon the execution, by the parties of this Agreement <br />3. The partill9 agree that should for any n:ason the Grant proceeds an: not delivered to <br />