Document:

Exhibit 10.92

 

This document prepared by and

after recording return to:

 

Troutman Sanders LLP

600 Peachtree Street, N.E.

Suite 5200

Atlanta, Georgia 30308-2216

Attention: S. Jefferson Greenway, Esq.

 

ASSIGNMENT OF LEASES AND RENTS

 

THIS ASSIGNMENT OF LEASES
AND RENTS (this “Assignment”) made as of the 14th day of May, 2014, is by UCFP OWNER, LLC, a Delaware limited
liability company, as Trustee under the BR/CDP Colonial Trust Agreement dated December 15, 2013, having an office at 880 Glenwood
Avenue SE, Suite H, Atlanta, GA 30316 (“Assignor”), in favor of KEYBANK NATIONAL ASSOCIATION, a national banking
association, having an office at 127 Public Square, Cleveland, Ohio 44114, its successors and assigns (“Assignee”).

 

RECITALS

 

A.           On
or about the date hereof, Assignor and Assignee entered into that certain Construction Loan Agreement (“Loan Agreement”)
whereby Assignee agreed to make a secured construction loan (the “Loan”) available to Assignor in the maximum
aggregate amount at any time outstanding not to exceed the sum of Twenty-Seven Million Five Hundred Thousand and No/100 Dollars
($27,500,000.00), to finance the development and construction of a multi-family project located on East Colonial Drive, Orlando,
Florida (the “Project”). The Project is legally described in Exhibit A attached hereto and made a part
hereof. Capitalized terms used and not otherwise defined herein shall have the meanings given to them in the Loan Agreement.

 

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B.           In
connection with the Loan, Assignor has executed and delivered a promissory note (the “Note”) in favor of Assignee
of even date herewith in the amount of the Loan payment of which is secured by (i) a Mortgage made by Assignor in favor of
Assignee on the Project, and (ii) the other Loan Documents.

 

C.           Assignor
is desirous of further securing to Assignee the performance of the terms, covenants and agreements hereof and of the Note, the
Mortgage and the Loan Documents.

 

AGREEMENTS

 

NOW, THEREFORE, in consideration
of the making of the Loan evidenced by the Note by Assignee to Assignor and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Assignor does hereby irrevocably, absolutely and unconditionally transfer, sell,
assign, pledge and convey to Assignee, its successors and assigns, all of the right, title and interest of Assignor in and to:

 

(a)          any
and all leases, licenses, rental agreements and occupancy agreements of whatever form now or hereafter affecting all or any part
of the Project and any and all guarantees, extensions, renewals, replacements and modifications thereof (collectively, the “Leases”);
and

 

(b)          all
issues, profits, security or other deposits, revenues, royalties, accounts, rights, benefits and income of every nature of and
from the Project, including, without limitation, minimum rents, additional rents, termination payments, bankruptcy claims, forfeited
security deposits, damages following default and all proceeds payable under any policy of insurance covering loss of rents resulting
from untenantability due to destruction or damage to the Project, together with the immediate and continuing right to collect and
receive the same, whether now due or hereafter becoming due, and together with all rights and claims of any kind that Assignor
may have against any Tenant, lessee or licensee under the Leases or against any other occupant of the Project (collectively, the
“Rents”).

 

TO HAVE AND TO HOLD the
same unto Assignee, its successors and assigns.

 

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IT IS AGREED that,
notwithstanding that this instrument is a present, absolute and executed assignment of the Rents and of the Leases and a present,
absolute and executed grant of the powers herein granted to Assignee, Assignor is hereby permitted, at the sufferance of Assignee
and at its discretion, and is hereby granted a license by Assignee, to retain possession of the Leases and to collect and retain
the Rents until the occurrence and during the continuance of an “Event of Default” (as defined herein) under the terms
of this Assignment or any of the other Loan Documents. Upon the occurrence and during the continuance of an Event of Default, the
aforementioned license granted to Assignor shall automatically terminate without notice to Assignor, and Assignee may thereafter,
without taking possession of the Project, take possession of the Leases and collect the Rents. Further, from and after such termination,
Assignor shall be the agent of Assignee in collection of the Rents, and any Rents so collected by Assignor shall be held in trust
by Assignor for the sole and exclusive benefit of Assignee and Assignor shall, within one (1) business day after receipt of any
Rents, pay the same to Assignee to be applied by Assignee as hereinafter set forth. Furthermore, from and after the occurrence
and during the continuance of an Event of Default and termination of the aforementioned license, Assignee shall have the right
and authority, without any notice whatsoever to Assignor and without regard to the adequacy of the security therefor, to: (a) make
application to a court of competent jurisdiction for appointment of a receiver for all or any part of the Project, as particularly
set forth in the Mortgage; (b) manage and operate the Project, with full power to employ agents to manage the same; (c) demand,
collect, receive and sue for the Rents, including those past due and unpaid; and (d) do all acts relating to such management of
the Project, including, but not limited to, negotiation of new Leases, making adjustments of existing Leases, contracting and paying
for repairs and replacements to the Improvements and to the fixtures, equipment and personal property located in the Improvements
or used in any way in the operation, use and occupancy of the Project as in the sole subjective judgment and discretion of Assignee
may be necessary to maintain the same in a tenantable condition, purchasing and paying for such additional furniture and equipment
as in the sole subjective judgment of Assignee may be necessary to maintain a proper rental income from the Project, employing
necessary managers and other employees, purchasing fuel, providing utilities and paying for all other expenses incurred in the
operation of the Project, maintaining adequate insurance coverage over hazards customarily insured against and paying the premiums
therefor. Assignee shall apply the Rents received by Assignor from the Project, after deducting the costs of collection thereof,
including, without limitation, reasonable and actual attorney’s fees at standard hourly rates without regard to any presumptive
statutory attorney’s fees and a management fee for any management agent so employed, against amounts expended for repairs,
upkeep, maintenance, service, fuel, utilities, taxes, assessments, insurance premiums and such other expenses as Assignee incurs
in connection with the operation of the Project and against interest, principal, required escrow deposits and other sums which
have or which may become due, from time to time, under the terms of the Loan Documents, in such order or priority as to any of
the items so mentioned as Assignee, in its sole subjective discretion, may determine. The exercise by Assignee of the rights granted
Assignee in this paragraph, and the collection of, the Rents and the application thereof as herein provided, shall not be considered
a waiver by Assignee of any Event of Default under the Loan Documents or prevent foreclosure of any liens on the Project nor shall
such exercise make Assignee liable under any of the Leases, Assignee hereby expressly reserving all of its rights and privileges
under the Mortgage and the other Loan Documents as fully as though this Assignment had not been entered into.

 

Without limiting the
rights granted hereinabove, in the event Assignor shall fail to make any payment or to perform any act required under the terms
hereof and such failure shall not be cured within any applicable grace or cure period, then Assignee may, but shall not be obligated
to, without prior notice to or demand on Assignor, and without releasing Assignor from any obligation hereof, make or perform the
same in such manner and to such extent as Assignee may deem necessary to protect the security hereof, including specifically, without
limitation, appearing in and defending any action or proceeding purporting to affect the security hereof or the rights or powers
of Assignee, performing or discharging any obligation, covenant or agreement of Assignor under any of the Leases, and, in exercising
any of such powers, paying all necessary costs and expenses, employing counsel and incurring and paying attorneys’ fees.
Any sum advanced or paid by Assignee for any such purpose, including, without limitation, reasonable and actual attorney’s
fees at standard hourly rates without regard to any presumptive statutory attorney’s fees, together with interest thereon
at the Default Rate from the date paid or advanced by Assignee until repaid by Assignor, shall immediately be due and payable to
Assignee by Assignor on demand and shall be secured by the Mortgage and by all of the other Loan Documents securing all or any
part of the indebtedness evidenced by the Note.

 

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IT IS FURTHER AGREED
that this Assignment is made upon the following terms, covenants and conditions:

 

1.          This
Assignment shall not operate to place responsibility for the control, care, management or repair of the Project upon Assignee,
nor for the performance of any of the terms and conditions of any of the Leases, nor shall it operate to make Assignee responsible
or liable for any waste committed on the Project by any Tenant or any other party or for any dangerous or defective condition of
the Project or for any negligence in the management, upkeep, repair or control of the Project. Assignee shall not be liable for
any loss sustained by Assignor resulting from Assignee’s failure to let the Project or from any other act or omission of
Assignee in managing the Project. Assignor shall and does hereby indemnify and hold Assignee harmless from and against any and
all liability, loss, claim, demand or damage which may or might be incurred by reason of this Assignment, including, without limitation,
claims or demands for security deposits from Tenants deposited with Assignor, and from and against any and all claims and demands
whatsoever which may be asserted against Assignee by reason of any alleged obligations or undertakings on its part to perform or
discharge any of the terms, covenants or agreements contained in any of the Leases excluding therefrom, however, any of the aforementioned
covenants by the gross negligence or willful misconduct of Assignee. Should Assignee incur any liability by reason of this Assignment
or in defense of any claim or demand for loss or damage as provided above, the amount thereof, including, without limitation, costs,
expenses and reasonable and actual attorney’s fees at standard hourly rates without regard to any presumptive statutory attorney’s
fees, together with interest thereof at the Default Rate from the date paid or incurred by Assignee until repaid by Assignor, shall
be immediately due and payable to Assignee by Assignor upon demand and shall be secured by the Mortgage and by all of the other
Loan Documents securing all or any part of the indebtedness evidenced by the Note.

 

2.          This
Assignment shall not be construed as making Assignee a mortgagee in possession.

 

3.          Assignee
is obligated to account to Assignor only for such Rents as are actually collected or received by Assignee.

 

4.          Assignor
hereby further presently and absolutely assigns to Assignee subject to the terms and provisions of this Assignment: (a) any award
or other payment which Assignor may hereafter become entitled to receive with respect to any of the Leases as a result of or pursuant
to any bankruptcy, insolvency or reorganization or similar proceedings involving any Tenant under such Leases; and (b) any and
all payments made by or on behalf of any Tenant of any part of the Project in lieu of Rent. Assignor hereby irrevocably appoints
Assignee as its attorney-in-fact to appear in any such proceeding and to collect any such award or payment, which power of attorney
is coupled with an interest by virtue of this Assignment and is irrevocable so long as any sums are outstanding under the loan
evidenced by the Note. All awards or payments so collected shall be applied to the indebtedness secured hereby in such order as
Assignee shall elect.

 

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5.          Assignor
represents, warrants and covenants to and for the benefit of Assignee: (a) that Assignor now is (or with respect to any Leases
not yet in existence, will be immediately upon the execution thereof) the absolute owner of the landlord’s interest in the
Leases, with full right and title to assign the same and the Rents due or to become due thereunder; (b) that, other than this Assignment
and any assignment to Assignee pursuant to the Mortgage there are no outstanding assignments of the Leases or Rents; (c) that no
Rents have been anticipated, discounted, released, waived, compromised or otherwise discharged except for prepayment of rent of
not more than two (2) months prior to the accrual thereof; (d) that Assignor has and shall duly and punctually observe and perform
all material covenants, conditions and agreements in the Leases on the part of the landlord to be observed and performed thereunder
and (e) there are no Leases in existence on the date hereof.

 

6.          Assignor
covenants and agrees that Assignor shall, at its sole cost and expense, appear in and defend any action or proceeding arising under,
growing out of, or in any manner connected with the Leases or the obligations, duties or liabilities of the landlord or any Tenant
thereunder, and shall pay on demand all costs and expenses, including, without limitation, reasonable and actual attorney’s
fees at standard hourly rates without regard to any presumptive statutory attorney’s fees, which Assignee may incur in connection
with Assignee’s appearance, voluntary or otherwise, in any such action or proceeding, together with interest thereon at the
Default Rate from the date incurred by Assignee until repaid by Assignor.

 

7.          At
any time, Assignee may, at its option, notify any Tenant or other parties of the existence of this Assignment. Assignor does hereby
specifically authorize, instruct and direct each and every present and future tenant, lessee and licensee of the whole or any part
of the Project to pay all unpaid and future Rents to Assignee upon receipt of demand from Assignee to so pay the same and Assignor
hereby agrees that each such present and future Tenant, lessee and licensee may rely upon such written demand from Assignee to
so pay said Rents without any inquiry into whether there exists an Event of Default hereunder or under the other Loan Documents
or whether Assignee is otherwise entitled to said Rents. Assignor hereby waives any right, claim or demand which Assignor may now
or hereafter have against any present or future tenant, lessee or licensee by reason of such payment of Rents to Assignee, and
any such payment shall discharge such tenant’s, lessee’s or licensee’s obligation to make such payment to Assignor.

 

8.          Assignee
may take or release any security for the indebtedness evidenced by the Note, may release any party primarily or secondarily liable
for the indebtedness evidenced by the Note, may grant extensions, renewals or indulgences with respect to the indebtedness evidenced
by the Note and may apply any other security therefor held by it to the satisfaction of any indebtedness evidenced by the Note
without prejudice to any of its rights hereunder.

 

9.          The
acceptance of this Assignment and the collection of the Rents in the event Assignor’s license is terminated, as referred
to above, shall be without prejudice to Assignee. The rights of Assignee hereunder are cumulative and concurrent, may be pursued
separately, successively or together and may be exercised as often as occasion therefor shall arise, it being agreed by Assignor
that the exercise of any one or more of the rights provided for herein shall not be construed as a waiver of any of the other rights
or remedies of Assignee, at law or in equity or otherwise, so long as any obligation under the Loan Documents remains unsatisfied.

 

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10.         All
rights of Assignee hereunder shall inure to the benefit of its successors and assigns, and all obligations of Assignor shall bind
its successors and assigns and any subsequent owner of the Project. All rights of Assignee in, to and under this Assignment shall
pass to and may be exercised by any assignee of such rights of Assignee. Assignor hereby agrees that if Assignee gives notice to
Assignor of an assignment of said rights, upon such notice the liability of Assignor to the assignee of the Assignee shall be immediate
and absolute. Assignor will not set up any claim against Assignee or any intervening assignee as a defense, counterclaim or setoff
to any action brought by Assignee or any intervening assignee for any amounts due hereunder or for possession of or the exercise
of rights with respect to the Leases or the Rents.

 

11.         It
shall be an “Event of Default” hereunder (a) if any representation or warranty made herein by Assignor is determined
by Assignee to have been false or misleading in any material respect at the time made, or (b) upon any failure by Assignor in the
performance or observance of any other covenant or condition hereof and the continuance of such failure for thirty (30) days after
written notice thereof from Assignee to Assignor; provided, however, that if such failure is susceptible of cure but cannot
reasonably be accomplished within said thirty (30) day period, then Assignor shall have an additional ninety (90) day period to
cure such failure and no Event of Default shall be deemed to exist hereunder so long as Assignor commences such cure within the
initial thirty (30) day period and diligently and in good faith pursues such cure to completion within such resulting one hundred
twenty (120) day period from the date of Assignee’s notice. Any such default not so cured shall be an “Event of Default”
under each of the other Loan Documents, entitling Assignee to exercise any or all rights and remedies available to Assignee under
the terms hereof or of any or all of the other Loan Documents, and any Event of Default under the other Loan Documents, or any
default under any other Loan Document which is not cured within any applicable grace or cure period, shall be deemed an Event of
Default hereunder subject to no grace or cure period, entitling Assignee to exercise any or all rights provided for herein.

 

12.         Failure
by Assignee to exercise any right which it may have hereunder shall not be deemed a waiver thereof unless so agreed in writing
by Assignee, and the waiver by Assignee of any default hereunder shall not constitute a continuing waiver or a waiver of any other
default or of the same default on any future occasion. No collection by Assignee of any Rents pursuant to this Assignment shall
constitute or result in a waiver of any default then existing hereunder or under any of the other Loan Documents.

 

13.         If
any provision under this Assignment or the application thereof to any entity, person or circumstance shall be invalid, illegal
or unenforceable to any extent, the remainder of this Assignment and the application of the provisions hereof to other entities,
persons or circumstances shall not be affected thereby and shall be enforced to the fullest extent permitted by law.

 

14.         This
Assignment may not be amended, modified or otherwise changed except by a written instrument duly executed by Assignor and Assignee.

 

15.         This
Assignment shall be in full force and effect continuously from the date hereof to and until the payment, discharge, and performance
of any and all indebtedness and obligations evidenced by the Note or secured or guaranteed by any of the Loan Documents, and the
release of the Mortgage shall, for all purposes, automatically terminate this Assignment and render this Assignment null and void
and of no effect whatsoever.

 

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16.         In
case of a conflict between any provision of this Assignment and any provision of the other Loan Documents, the provision selected
by Assignee in its sole subjective discretion shall prevail and be controlling.

 

17.         All
notices, demands, requests or other communications to be sent by one party to the other hereunder or required by law shall be given
and become effective as provided in the Loan Agreement.

 

18.         This
Assignment shall be governed by and construed in accordance with the laws of the State in which the Project is located.

 

20.         This
Assignment may be executed in any number of counterparts, each of which shall be effective only upon delivery and thereafter shall
be deemed an original, and all of which shall be taken to be one and the same instrument, for the same effect as if all parties
hereto had signed the same signature page. Any signature page of this Assignment may be detached from any counterpart of this Assignment
without impairing the legal effect of any signatures thereon and may be attached to another counterpart of this Assignment identical
in form hereto but having attached to it one or more additional signature pages.

 

21.         In
addition to, but not in lieu of, any other rights hereunder, Assignee shall have the right to institute suit and obtain a protective
or mandatory injunction against Assignor to prevent a breach or default, or to reinforce the observance, of the agreements, covenants,
terms and conditions contained herein, as well as the right to damages occasioned by any breach or default by Assignor.

 

22.         Assignor
hereby covenants and agrees that Assignee shall be entitled to all of the rights, remedies and benefits available by statute, at
law, in equity or as a matter of practice for the enforcement and perfection of the intents and purposes hereof. Assignee shall,
as a matter of absolute right, be entitled, upon application to a court of applicable jurisdiction, and without notice to Assignor,
to the appointment of a receiver to obtain and secure the rights of Assignee hereunder and the benefits intended to be provided
to Assignee hereunder.

 

23.         The
rights and remedies in favor of Assignee granted by this Assignment shall be in addition to and shall not in any way constitute
a limitation upon the rights and remedies available to Assignee under applicable law, including without limitation all rights under
Section 697.07, Florida Statutes, regarding assignment of rents.

 

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IN WITNESS WHEREOF,
Assignor has executed this Assignment under seal as of the day and year first above written.

 

	EXECUTED IN THE PRESENCE OF:	 	ASSIGNOR:
	 	 	 
	/s/ Benjamin Field	 	UCFP OWNER, LLC, a Delaware limited
	(Signature)	 	liability company, as Trustee under the
	Benjamin Field	 	BR/CDP Colonial Trust Agreement dated
	(Printed Name	 	December 15, 2013
	 	 	 	 
	/s/ Karen Stroup	 	By:  	/s/ Robert Meyer
	(Signature)	 	Name:	Robert Meyer
	Karen Stroup	 	Title:	Vice President
	(Printed Name	 	 

 

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STATE OF GEORGIA

COUNTY OF COBB

 

The foregoing instrument
was acknowledged before me this 6th day of May, 2014, by Rob Meyer, as the Vice President, of UCFP Owner, LLC, a Delaware
limited liability company, as Trustee under the BR/CDP Colonial Trust Agreement dated December 15, 2013, who _X_ is personally
known to me or ___ has produced ____X_____ (state) driver’s license or _______________________________________
as identification.

 

	My Commission Expires: 8/21/15	/s/ Sheronda Davis
	 	Notary Public (Signature)
	(AFFIX NOTARY SEAL)	 
	 	Sheronda Davis
	 	(Printed Name)
	 	Accountant
	 	(Title or Rank)
	 	—
	 	(Serial Number, if any)

 

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EXHIBIT A

 

LEGAL DESCRIPTION

 

The land referred to herein below is situated in the County
of ORANGE, State of Florida, and is described as follows:

 

A PORTION OF THE NORTHEAST 1/4 OF SECTION
22, TOWNSHIP 22 SOUTH, RANGE 31 EAST, MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

COMMENCE AT THE NORTHEAST CORNER OF SAID
NORTHEAST 1/4 OF SECTION 22; THENCE RUN S87°58'03"W ALONG THE NORTH LINE OF SAID NORTHEAST 1/4, A DISTANCE OF 45.02 FEET,
SAID POINT BEING THE INTERSECTION OF A LINE 45.00 FEET WEST OF AND PARALLEL WITH THE EAST LINE OF THE NORTHEAST 1/4 OF SAID SECTION
22 AND THE NORTH LINE OF THE NORTHEAST 1/4 OF SAID SECTION 22; THENCE CONTINUE ALONG SAID NORTH LINE OF THE NORTHEAST 1/4 S87°58'03"W,
A DISTANCE OF 610.44 FEET TO THE POINT OF BEGINNING; THENCE RUN S00°56'14"E, A DISTANCE OF 842.92 FEET TO THE BEGINNING
OF A CURVE CONCAVE TO THE NORTHWEST, HAVING A RADIUS OF 31.00 FEET; THENCE RUN SOUTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH
A CENTRAL ANGLE OF 98°26'21", AN ARC DISTANCE OF 53.26 FEET; THENCE RUN N82°29'53"W, A DISTANCE OF 41.52 FEET
TO THE BEGINNING OF A CURVE CONCAVE TO THE SOUTH, HAVING A RADIUS OF 109.00 FEET; THENCE RUN WESTERLY ALONG THE ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF 12°16'52", AN ARC DISTANCE OF 23.36 FEET; THENCE RUN S07°30'07"W, A DISTANCE OF 287.92
FEET TO THE NORTHERLY RIGHT OF WAY LINE OF STATE ROAD NUMBER 50, AS SHOWN ON THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT OF
WAY MAP, SECTION 7506-201, PAGE 9; THENCE RUN N82°29'53"W ALONG SAID NORTHERLY RIGHT OF WAY LINE, A DISTANCE OF 45.95
FEET; THENCE RUN N07°30'07"E, A DISTANCE OF 20.00 FEET; THENCE RUN S82°29'53"E, A DISTANCE OF 2.05 FEET; THENCE
RUN N07°30'07"E, A DISTANCE OF 248.38 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE TO THE NORTH, HAVING A RADIUS OF
129.00 FEET; THENCE FROM A RADIAL BEARING OF N20°31'47"W, RUN WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE
OF 28°01'54", AN ARC DISTANCE OF 63.11 FEET; THENCE RUN N82°29'53"W, A DISTANCE OF 339.09 FEET TO THE BEGINNING
OF A CURVE CONCAVE TO THE SOUTH, HAVING A RADIUS OF 89.50 FEET; THENCE RUN WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL
ANGLE OF 17°07'59", AN ARC DISTANCE OF 26.76 FEET TO A POINT OF COMPOUND CURVATURE OF A CURVE CONCAVE TO THE SOUTH, HAVING
A RADIUS OF 208.50 FEET; THENCE RUN WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 18°25'26", AN ARC
DISTANCE OF 67.04 FEET; THENCE RUN N00°56'14"W, A DISTANCE OF 844.21 FEET TO THE SAID NORTH LINE OF THE NORTHEAST 1/4;
THENCE RUN N87°58'03"E ALONG SAID NORTH LINE A DISTANCE OF 634.12 FEET TO THE POINT OF BEGINNING.

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TOGETHER WITH THE EASEMENT FOR THE BENEFIT
OF THE HEREINABOVE DESCRIBED PROPERTY CONTAINED WITHIN THE EASEMENT AGREEMENT RECORDED IN 0. R. BOOK 10470 AT PAGE 6879 0F THE
PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA.

 

AND:

 

TOGETHER WITH COVENANTS AND NON-EXCLUSIVE
EASEMENTS CONTAINED IN DECLARATION OF COVENANTS, OPERATIONS & RECIPROCAL EASEMENTS RECORDED IN 0. R. BOOK 10498, PAGE 2464,
AS AMENDED BY FIRST AMENDMENT TO DECLARATION OF COVENANTS, OPERATIONS AND RECIPROCAL EASEMENTS RECORDED IN O.R. BOOK 10699, PAGE
7086, OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA.

 

AND ALSO:

TOGETHER WITH COVENANTS AND NON-EXCLUSIVE EASEMENTS CONTAINED IN AGREEMENT REGARDING EASEMENTS, COVENANTS AND RESTRICTIONS RECORDED
IN 0. R. BOOK 8838, PAGE 3758, AS AMENDED BY FIRST AMENDMENT TO AGREEMENT REGARDING EASEMENTS, COVENANTS AND RESTRICTIONS RECORDED
IN 0. R, BOOK 9338, PAGE 4682, OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA.

 

AND ALSO:

 

TOGETHER WITH THE EASEMENTS FOR THE BENEFIT
OF THE HEREINABOVE DESCRIBED PROPERTY CONTAINED WITHIN THE RECIPROCAL EASEMENT AGREEMENT RECORDED IN O.R. BOOK 10699, PAGE 7102,
OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA.

 

    	11Exhibit 10.93

 

ASSIGNMENT OF CONSTRUCTION DOCUMENTS

 

THIS ASSIGNMENT OF CONSTRUCTION
DOCUMENTS (“Assignment”), dated as of May 14, 2014, is made by UCFP OWNER, LLC, a Delaware limited liability
company, as Trustee under the BR/CDP Colonial Trust Agreement dated December 15, 2013 (“Assignor”), in favor
of KEYBANK NATIONAL ASSOCIATION, a national banking association, its successors and assigns (“Assignee”).

 

RECITALS

 

A.           On
or about the date hereof Assignor and Assignee entered into that certain Construction Loan Agreement (“Loan Agreement”)
whereby Assignee agreed to make a secured construction loan (the “Loan”) available to Assignor in the maximum
aggregate amount at any time outstanding not to exceed the sum of Twenty-Seven Million Five Hundred Thousand and No/100 Dollars
($27,500,000.00), to finance the development and construction of a multi-family project located on East Colonial Drive, Orlando,
Florida (the “Project”). Capitalized terms used and not otherwise defined herein shall have the meanings
given to them in the Loan Agreement.

 

B.           In
connection with the Loan, Assignor has executed and delivered a promissory note (the “Note”) in favor of Assignee
of even date herewith in the amount of the Loan, payment of which is secured by (i) a Mortgage made by Assignor in favor of
Assignee on the Project, and (ii) the other Loan Documents.

 

C.           The
execution and delivery of this Assignment is a condition precedent to the performance by Assignee of its obligations under the
Loan Agreement.

 

AGREEMENTS

 

NOW, THEREFORE, in
consideration of the recitals set forth above and incorporated herein, and for other good and valuable consideration, Assignor
agrees as follows:

 

1.          Assignor
hereby grants, transfers and assigns to Assignee all the right, title and interest of Assignor now or hereafter acquired in and
to the following:

 

a.           the
general contract between Assignor and the General Contractor with respect to the Construction of the Project, together with any
and all extensions, modifications, amendments, replacements and renewals thereof (the “General Contract”);

 

b.           to
the extent assignable by Assignor, all contracts and Subcontracts, together with any and all extensions, modifications, amendments
and renewals thereof, which are entered into by Assignor or the General Contractor in connection with the performance of the work
or the supply of the materials required for the Construction;

 

c.           all
architectural, engineering and other design contracts with respect to the Construction of the Project;

 

d.           all
plans, specifications and other design and construction documents, with respect to the Construction of the Project including, but
not limited to, the Plans and Specifications;

 

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e.           all
guarantees, warranties and other undertakings covering the quality or performance of the work or the quality of the materials required
by the General Contract, contracts and, to the extent assignable by Assignor, Subcontracts; and

 

f.           to
the extent assignable, all building permits, governmental permits, licenses, and authorizations now or hereafter issued and all
tradenames, trademarks and logos used in connection with the Construction and the development or operation of the Improvements.

 

The items referred to in subsections (a)
through (f) above are sometimes hereinafter collectively referred to as the “Construction Documents.”

 

This Assignment is
given for the purpose of securing the payment of all sums, including, without limitation, the payment of principal and interest
due under the Note, now or at any time due Assignee under the Loan Agreement or any other Loan Documents evidencing or securing
the Loan, and any extensions, modifications, amendments and renewals thereof, and the performance and discharge of the obligations,
covenants, conditions, and agreements of Assignor contained herein and in the other Loan Documents.

 

2.           Assignor
agrees:

 

a.           To
faithfully abide by, perform and discharge in all material respects each and every obligation, covenant, condition and agreement
of the Construction Documents to be performed by Assignor and to enforce performance by the other party thereto in all material
respects of each and every obligation, covenant, condition and agreement to be performed by such other party.

 

b.           That
the occurrence of any of the following shall constitute an Event of Default hereunder:

 

(1)         Subject
to Section 15.1(e) of the Loan Agreement, failure of Assignor for a period of thirty (30) days after written notice from Assignee,
to observe or perform any covenant or condition contained in this Assignment; provided that if any such failure is susceptible
of cure and cannot reasonably be cured within said thirty (30) day period, then Assignor shall have an additional sixty (60) day
period to cure such failure and no Event of Default shall be deemed to exist hereunder so long as Assignor commences such cure
within the initial thirty (30) day period and diligently and in good faith pursues such cure to completion within such resulting
ninety (90) day period from the date of Assignee’s notice;

 

(2)         Any
representation or warranty made by Assignor herein which is not true and correct in any material respect as of the date hereof;
and

 

(3)         An
Event of Default by Assignor under the Loan Agreement or any of the other Loan Documents, which shall not be cured within any applicable
grace period.

 

    	- 2 -

    	 

    

 

c.           Upon
the occurrence of any Event of Default hereunder, Assignee shall have all rights granted to Assignee under the Loan Documents,
and Assignee shall have the right (but not the obligation) to correct any default in such manner and to such extent as Assignee
may reasonably deem necessary to protect the security hereof, including specifically, without limitation, the right to appear in
and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Assignee, and also the
right to perform and discharge each and every obligation, covenant, condition and agreement of Assignor under the Construction
Documents, and, in exercising any such powers, to pay necessary costs and expenses, employ counsel and incur and pay reasonable
attorneys’ fees and expenses. Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform
or discharge, any obligation, duty or liability under any of the Construction Documents, by reason of this Assignment.

 

d.           At
any time after the occurrence and during the continuance of an Event of Default, Assignee may, at its option, without notice, and
without regard to the adequacy of security for the indebtedness hereby secured, either in person or by agent, with or without bringing
any action or proceeding, or by a receiver to be appointed by a court at any time hereafter, enforce for its own benefit the Construction
Documents, or any of them. The exercise of any rights under this Assignment shall not be deemed to cure or waive any default under
any of the Loan Documents, or waive, modify or affect any notice of default under any of the Loan Documents, or invalidate any
act done pursuant to such notice.

 

e.           That
the General Contractor and any other parties to the Construction Documents, upon written notice from Assignee of the occurrence
and during the continuance of an Event of Default, shall be and are hereby authorized by Assignor to perform for the benefit of
Assignee in accordance with the terms and conditions thereof without any obligation to determine whether or not such an Event of
Default has in fact occurred.

 

f.            That
in the exercise of the powers herein granted to Assignee, no liability shall be asserted or enforced against Assignee, all such
liability being hereby expressly waived and released by Assignor. Assignor hereby agrees to indemnify and hold Assignee, and its
officers, directors, employees and agents, free and harmless from and against any and all liability, expense, cost, loss or damage
which Assignee may incur by reason of any act or omission of Assignor under any of the Construction Documents; provided, however,
in no event shall Assignor have any liability for Assignee’s gross negligence or willful actions. Should Assignee incur any
liability, expense, cost, loss or damage (i) under the Construction Documents for which it is to be indemnified by Assignor
as aforesaid, or (ii) by reason of the exercise of Assignee’s rights hereunder (including, but not limited to, the exercise
of the rights granted to Assignee under Section 2(c) hereof), the amount thereof, including costs, expenses and reasonable, including
costs, expenses and reasonable and actual attorney’s fees at standard hourly rates without regard to any presumptive statutory
attorney’s fees, shall be secured hereby and by the Mortgage and all other Loan Documents (whether or not such amount, when
aggregated with other sums secured by the Mortgage, exceeds the aggregate face amount of the Note) and shall (x) be due and payable
immediately upon demand by Assignee and (y) from and after such demand, bear interest at the Default Rate.

 

g.           That
this Assignment shall be assignable by Assignee to any assignee of Assignee under the Loan Agreement and all representations, warranties,
covenants, powers and rights herein contained shall be binding upon, and shall inure to the benefit of, Assignor and Assignee and
their respective legal representatives, successors and assigns.

 

    	- 3 -

    	 

    

 

3.           Assignor
further hereby covenants and represents to Assignee that (a) Assignor has not previously assigned, sold, pledged, transferred,
mortgaged, hypothecated or otherwise encumbered the Construction Documents or any of them, or its right, title and interest therein;
(b) Assignor shall not further assign, sell, pledge, transfer, mortgage, hypothecate or otherwise encumber its interests in
the Construction Documents or any of them; (c) Assignor has not performed any act which might prevent Assignor from performing
its undertakings hereunder or which might prevent Assignee from operating under or enforcing any of the terms and conditions hereof
or which would limit Assignee in such operation or enforcement; (d) Assignor is not in default under the Construction Documents,
or any of them, and to the best knowledge of Assignor, no other party to the respective Construction Documents is in default thereunder
except as disclosed in writing to Assignee; (e) except as provided in the Loan Agreement, no amendments to any of the Construction
Documents will be made without the prior written consent of Assignee (such consent not to be unreasonably withheld, delayed or
conditioned); and (f) upon execution of any of the Construction Documents, Assignor will deliver a copy of such Construction
Documents (or the original at Assignee’s request) to Assignee and will require such of the parties thereto as Assignee may
reasonably designate to execute and deliver to Assignee a consent to this Assignment, such consent to be identical to the applicable
form of Consent and Agreement attached hereto as Exhibit A.

 

4.           All
notices, demands or documents which are required or permitted to be given or served hereunder shall be in writing and shall be
deemed sufficiently given when delivered or mailed in the manner set forth in the Loan Agreement.

 

5.           Any
provision in the Loan Agreement that pertains to this Assignment shall be deemed to be incorporated herein as if such provision
were fully set forth in this Assignment. In the event of any conflict between the terms of this Assignment and the terms of the
Loan Agreement, the terms of the Loan Agreement shall prevail. A provision in this Assignment shall not be deemed to be inconsistent
with the Loan Agreement by reason of the fact that no provision in the Loan Agreement covers such provision in this Assignment.

 

6.           This
Assignment is made for collateral purposes only and the duties and obligations of Assignor under this Assignment shall terminate
when all sums due Assignee under the Loan Documents are paid in full and all obligations, covenants, conditions and agreements
of Assignor contained in the Loan Documents are performed and discharged.

 

7.           This
assignment shall be governed by, and construed in accordance with, the laws of the State of Georgia.

 

8.           It
is expressly intended, understood and agreed that this Assignment and the other Loan Documents are made and entered into for the
sole protection and benefit of Assignor, and Assignee, and their respective successors and assigns (but in the case of assigns
of Assignor, only to the extent permitted hereunder); that no other person or persons shall have any right at any time to act hereon
or rights to the proceeds of the loan evidenced and secured by the Loan Documents; that such loan proceeds do not constitute a
trust fund for the benefit of any third party; that no third party shall under any circumstances be entitled to any equitable lien
on any such undisbursed loan proceeds at any time; and that Assignee shall have a lien upon and right to direct application of
any such undisbursed loan proceeds as provided in the Loan Documents.

 

    	- 4 -

    	 

    

  

10.           Assignor
and Assignee intend and believe that each provision in this Assignment comports with all applicable local, state or federal laws
and judicial decisions. However, if any provision or provisions, or if any portion of any provision or provisions, in this Assignment
is found by a court of law to be in violation of any applicable local, state or federal ordinance, statute, law, administrative
or judicial decision or public policy, and if such court should declare such portion, provision or provisions of this Assignment
to be illegal, invalid, unlawful, void or unenforceable as written, then it is the intent both of Assignor and Assignee that such
portion, provision or provisions shall be given force to the fullest possible extent that they are legal, valid and enforceable,
that the remainder of this Assignment shall be construed as if such illegal, invalid, unlawful, void or unenforceable portion,
provision or provisions were not contained therein and that the rights, obligations and interests of Assignor and Assignee under
the remainder of this Assignment shall continue in full force and effect.

 

[SIGNATURES ON FOLLOWING
PAGE]

 

    	- 5 -

    	 

    

 

IN WITNESS WHEREOF,
Assignor has delivered this Assignment as of the date first written above.

 

	 	ASSIGNOR:
	 	 
	 	UCFP OWNER, LLC, a Delaware limited liability company, as Trustee under the BR/CDP Colonial Trust Agreement dated December 15, 2013
	 	 	 
	 	By:	/s/ Robert Meyer
	 	 	 
	 	Name:	Robert Meyer
	 	 	 
	 	Title:	Vice President

 

    	- 6 -

    	 

    

EXHIBIT A

 

CONTRACTOR’S AGREEMENT AND CONSENT
TO

ASSIGNMENT OF CONSTRUCTION DOCUMENTS

 

The undersigned (“Contractor”)
as general contractor under the general contract between UCFP Owner, LLC, a Delaware limited liability company (“Owner”)
and Contractor, dated March 7, 2014 (“Agreement”) which is one of the Construction Documents referred to in
that certain Assignment of Construction Documents dated May ___, 2014 (“Assignment”) made by Owner to KeyBank
National Association (“Assignee”) hereby consents to the terms of the Assignment and agrees that, upon receipt of notice
from Assignee or its successors or assigns that an Event of Default has occurred under the Assignment, and thereafter at all times
such Event of Default is continuing, it will perform all of its obligations, covenants, conditions and agreements under the Agreement
for the benefit of Assignee and its successors and assigns.

 

For purposes of the
Assignment, any notice, demand, request or other communication which any party hereto may be required or may desire to give hereunder
shall be in writing and shall be deemed to have been properly given (a) if hand delivered, when delivered; (b) if mailed by United
States Certified Mail (postage prepaid, return receipt requested), three Business Days after mailing (c) if by Federal Express
or other reliable overnight courier service, on the next Business Day after delivered to such courier service or (d) if by telecopier
on the day of transmission so long as a copy is sent on the same day by overnight courier as set forth below:

 

	If to the undersigned:	 
	 	 
	 	Summit Contracting Group, Inc.
	 	6877 Phillips Industrial Blvd.
	 	Jacksonville, FL  32256
	 	Attention: ___________________
	 	Telephone (904) 268-5515
	 	Facsimile  (904)  _____________
	 	 
	If to Assignee:	 
	 	KEYBANK NATIONAL ASSOCIATION
	 	66 South Pearl St., 5th Floor
	 	MSC: NY-31-66-0567
	 	Albany, NY  12207
	 	Attn: Terry Hill 
	 	Direct:  (518) 257-8569
	 	Phone:  (518) 257-8572
	 	 
	With a copy to:	KEYBANK NATIONAL ASSOCIATION
	 	1200 Abernathy Road, NE, Suite 1550 
	 	Atlanta, GA 30328
	 	Attn: Joe Fadus
	 	Direct:  (770 510-2162
	 	Phone:  (770) 510-2195

 

    	- 7 -

    	 

    

 

 

	With a copy to:	Troutman Sanders LLP
	 	600 Peachtree Street, Suite 5200
	 	Atlanta, Georgia 30308
	 	Attention:	Jeff Greenway 
	 	Telephone:	(404) 885-3257
	 	Fax:	(404) 962-6776

 

or such other address as the party to be
served with notice may have furnished in writing to the party seeking or desiring to serve notice as a place for the service of
notice.

 

The undersigned also
agrees that in the event of a breach by Assignor of any of the terms and conditions of the Agreement, the undersigned will give
Assignee written notice of such breach and the opportunity to remedy or cure such breach within thirty (30) days thereafter except
that the undersigned agrees that no default shall be deemed to have occurred if curing such default cannot by its nature be accomplished
in such thirty (30) day period so long as Assignee shall have commenced curing the same within such thirty (30) day period and
thereafter shall diligently and continuously prosecute the same to completion.         

 

It is expressly understood
that Assignee neither assumes nor has any obligation to Contractor to exercise its rights under the Assignment, and that the option
to exercise such right rests in the sole and absolute discretion of Assignee. In the event Assignee exercises its rights under
the Assignment, Contractor agrees that Assignee shall have no personal obligations or liabilities under the Agreement or the Assignment
and the sole rights and remedies of Contractor as against Assignee under the Agreement or under this Consent shall be a suit against
Assignor and enforcement of Contractor’s lien rights, if any, against the property described in the Agreement. Notwithstanding
the preceding sentence, Contractor shall have no obligation to continue construction on behalf of Assignee in the event Assignee
exercises its rights under the Assignment unless Assignee assumes the obligation to pay sums due to Contractor for work performed
or materials supplied as and when such payments become due under the terms of the Agreement.

 

Contractor acknowledges
that the execution and delivery of this Agreement and Consent to Assignment (“Consent”) is a material inducement
to Assignee to make the Loan, and, without execution and delivery of this Consent, Assignee will not make the Loan.

 

	 	Summit Contracting Group, Inc.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	- 8 -

    	 

    

 

ARCHITECT’S AGREEMENT AND CONSENT
TO

ASSIGNMENT OF CONSTRUCTION DOCUMENTS

 

The undersigned (“Architect”)
as architect under the architecture contract between UCFP Owner, LLC, a Delaware limited liability company, as successor to Catalyst
Development Partners, LLC (“Owner”) and Architect, dated September 23, 2013 (“Agreement”)
which is one of the Construction Documents referred to in that certain Assignment of Construction Documents dated May ___, 2014
(“Assignment”) made by Owner to KeyBank national Association (“Assignee”) hereby consents to the
terms of the Assignment and agrees that, upon receipt of notice from Assignee or its successors or assigns that an Event of Default
has occurred under the Assignment, and thereafter at all times such Event of Default is continuing, it will perform all of its
obligations, covenants, conditions and agreements under the Agreement for the benefit of Assignee and its successors and assigns,
so long as Assignee performs the duties and obligations of the owner under the Agreement.

 

For purposes of the
Assignment, any notice, demand, request or other communication which any party hereto may be required or may desire to give hereunder
shall be in writing and shall be deemed to have been properly given (a) if hand delivered, when delivered; (b) if mailed by United
States Certified Mail (postage prepaid, return receipt requested), three Business Days after mailing (c) if by Federal Express
or other reliable overnight courier service, on the next Business Day after delivered to such courier service or (d) if by telecopier
on the day of transmission so long as a copy is sent on the same day by overnight courier as set forth below:

 

	If to the undersigned:	 
	 	 
	 	Humphreys & Partners Architects/Florida, L.L.C.
	 	5339 Alpha Road, Suite #300
	 	Dallas, Texas  75240
	 	Attention: ___________________
	 	Telephone (972) 701-9636
	 	Facsimile  (972) 701-9639
	 	 
	If to Assignee:	 
	 	KEYBANK NATIONAL ASSOCIATION
	 	66 South Pearl St., 5th Floor
	 	MSC: NY-31-66-0567
	 	Albany, NY  12207
	 	Attn: Terry Hill 
	 	Direct:  (518) 257-8569
	 	Phone:  (518) 257-8572
	 	 
	With a copy to:	KEYBANK NATIONAL ASSOCIATION
	 	1200 Abernathy Road, NE, Suite 1550 
	 	Atlanta, GA 30328
	 	Attn: Joe Fadus
	 	Direct:  (770 510-2162
	 	Phone:  (770) 510-2195

 

    	- 9 -

    	 

    

 

 

	With a copy to:	Troutman Sanders LLP
	 	600 Peachtree Street, Suite 5200
	 	Atlanta, Georgia 30308
	 	Attention:	Jeff Greenway 
	 	Telephone:	(404) 885-3257
	 	Fax:	(404) 962-6776

 

or such other address as the party to be
served with notice may have furnished in writing to the party seeking or desiring to serve notice as a place for the service of
notice.

 

The undersigned also
agrees that in the event of a breach by Assignor of any of the terms and conditions of the Agreement, the undersigned will give
Assignee written notice of such breach and the opportunity to remedy or cure such breach within thirty (30) days thereafter except
that the undersigned agrees that no default shall be deemed to have occurred if curing such default cannot by its nature be accomplished
in such thirty (30) day period so long as Assignee shall have commenced curing the same within such (30) day period and thereafter
shall diligently and continuously prosecute the same to completion.         

 

It is expressly understood
that Assignee neither assumes nor has any obligation to Architect to exercise its rights under the Assignment, and that the option
to exercise such right rests in the sole and absolute discretion of Assignee. In the event Assignee exercises its rights under
the Assignment, Architect agrees that Assignee shall have no personal obligations or liabilities under the Agreement or the Assignment
and the sole rights and remedies of Architect as against Assignee under the Agreement or under this Consent shall be a suit against
Assignor and enforcement of Architect’s lien rights, if any, against the property described in the Agreement. Notwithstanding
the preceding sentence, Architect shall have no obligation to continue construction on behalf of Assignee in the event Assignee
exercises its rights under the Assignment unless Assignee assumes the obligation to pay sums due to Architect for work performed
or materials supplied as and when such payments become due under the terms of the Agreement.

 

Architect acknowledges
that the execution and delivery of this Agreement and Consent to Assignment (“Consent”) is a material inducement
to Assignee to make the Loan, and, without execution and delivery of this Consent, Assignee will not make the Loan.

 

	 	Humphreys & Partners Architects/Florida, L.L.C.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	- 10 -

    	 

    

 

ENGINEER’S AGREEMENT AND CONSENT TO

ASSIGNMENT OF CONSTRUCTION DOCUMENTS

 

The undersigned (“Engineer”)
as architect under the architecture contract between UCFP Owner, LLC, a Delaware limited liability company, as successor to Catalyst
Development Partners, LLC (“Owner”) and Engineer, dated May 11, 2012, as amended (“Agreement”)
which is one of the Construction Documents referred to in that certain Assignment of Construction Documents dated May ___, 2014
(“Assignment”) made by Owner to KeyBank National Association (“Assignee”) hereby consents to the
terms of the Assignment and agrees that, upon receipt of notice from Assignee or its successors or assigns that an Event of Default
has occurred under the Assignment, and thereafter at all times such Event of Default is continuing, it will perform all of its
obligations, covenants, conditions and agreements under the Agreement for the benefit of Assignee and its successors and assigns,
so long as Assignee performs the duties and obligations of the owner under the Agreement.

 

For purposes of the
Assignment, any notice, demand, request or other communication which any party hereto may be required or may desire to give hereunder
shall be in writing and shall be deemed to have been properly given (a) if hand delivered, when delivered; (b) if mailed by United
States Certified Mail (postage prepaid, return receipt requested), three Business Days after mailing (c) if by Federal Express
or other reliable overnight courier service, on the next Business Day after delivered to such courier service or (d) if by telecopier
on the day of transmission so long as a copy is sent on the same day by overnight courier as set forth below:

 

	If to the undersigned:	 
	 	 
	 	Kimley-Horn and Associates, Inc.
	 	3660 Maguire Boulevard
	 	Orlando, Florida  32803
	 	Attention: ___________________
	 	Telephone (407) 898-1511
	 	Facsimile  (407) 894-4791
	 	 
	If to Assignee:	 
	 	KEYBANK NATIONAL ASSOCIATION
	 	66 South Pearl St., 5th Floor
	 	MSC: NY-31-66-0567
	 	Albany, NY  12207
	 	Attn: Terry Hill 
	 	Direct:  (518) 257-8569
	 	Phone:  (518) 257-8572
	 	 
	With a copy to:	KEYBANK NATIONAL ASSOCIATION
	 	1200 Abernathy Road, NE, Suite 1550 
	 	Atlanta, GA 30328
	 	Attn: Joe Fadus
	 	Direct:  (770 510-2162
	 	Phone:  (770) 510-2195

 

    	- 11 -

    	 

    

 

 

	With a copy to:	Troutman Sanders LLP
	 	600 Peachtree Street, Suite 5200
	 	Atlanta, Georgia 30308
	 	Attention:	Jeff Greenway 
	 	Telephone:	(404) 885-3257
	 	Fax:	(404) 962-6776

 

or such other address as the party to be
served with notice may have furnished in writing to the party seeking or desiring to serve notice as a place for the service of
notice.

 

The undersigned also
agrees that in the event of a breach by Assignor of any of the terms and conditions of the Agreement, the undersigned will give
Assignee written notice of such breach and the opportunity to remedy or cure such breach within thirty (30) days thereafter except
that the undersigned agrees that no default shall be deemed to have occurred if curing such default cannot by its nature be accomplished
in such thirty (30) day period so long as Assignee shall have commenced curing the same within such (30) day period and thereafter
shall diligently and continuously prosecute the same to completion.         

 

It is expressly understood
that Assignee neither assumes nor has any obligation to Engineer to exercise its rights under the Assignment, and that the option
to exercise such right rests in the sole and absolute discretion of Assignee. In the event Assignee exercises its rights under
the Assignment, Engineer agrees that Assignee shall have no personal obligations or liabilities under the Agreement or the Assignment
and the sole rights and remedies of Engineer as against Assignee under the Agreement or under this Consent shall be a suit against
Assignor and enforcement of Engineer’s lien rights, if any, against the property described in the Agreement. Notwithstanding
the preceding sentence, Engineer shall have no obligation to continue construction on behalf of Assignee in the event Assignee
exercises its rights under the Assignment unless Assignee assumes the obligation to pay sums due to Engineer for work performed
or materials supplied as and when such payments become due under the terms of the Agreement.

 

Engineer acknowledges
that the execution and delivery of this Agreement and Consent to Assignment (“Consent”) is a material inducement
to Assignee to make the Loan, and, without execution and delivery of this Consent, Assignee will not make the Loan.

 

	 	Kimley-Horn and Associates, Inc.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	- 12 -

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