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Assumption of all Lease Obligatlons by Assignee <br />3. On the Effective Date of this Agreement, the Assignee hereby assumes each <br />and every obligation of the Assignor under the Lease as if the Assignee had <br />been an original PartY thereto. <br />Gontinued Obligation of Asslgnor <br />4. The Assignor acknowledges that pursuant to Paragraph. I of the Lease, the <br />assumptijn of the obligati6ns under the Lease by lhe Assignee does not relieve <br />the obligation of the Aslignor to perform the Lease in every respect' <br />Gonformance with Laws and Regulations <br />b. The Assignor and Assignee acknowledge and declare.that this.Agreement is <br />intended to be in conformance with all Airport Board, local, state and federal <br />laws, ordinances, rules, regulations and policies, and the Assignee will comply <br />with all laws, ordinances, rules, regulations and policies applicable to the use <br />"nJ op"r"tion of the Airport property, facilities and operations as those laws, <br />ordinances, rules, regulaiions'anit p6fcies now exist or may hereafter become <br />effective. <br />General <br />6. The covenants, agreements, terms and conditions contained in this Agreem_ent <br />shall apply to andOe binding upon Assignor and Assignee and their respective <br />heirs, exeiutors, administrators, suc@ssor and assigns' <br />lN WITNESS WHEREOF the parties have entered into this Agreement as of the <br />date and year first above written. <br />CARRERA HANGARS LP, bY its General <br />2 <br />Partner, GARRE CORPORATION <br />Per: <br />CARRERA HANGARS BOWERS FIELD LP, bY <br />its General Partner, CARRERA PACIFIG <br />CORPORATI <br />ry <br />Per: