Document:

Exhibit 10.31

 

ASSIGNMENT AND ASSUMPTION OF BOND DOCUMENTS

 

This ASSIGNMENT AND ASSUMPTION
OF BOND DOCUMENTS (this "Agreement"), is made as of this 14th day of July, 2016, by and between WATERTON  TENSIDE
OWNER, L.L.C., a Delaware limited liability company ("Assignor"); and BR CARROLL TENSIDE, LLC, a Delaware
limited liability company ("Assignee").

 

WITNESSETH:

 

WHEREAS, pursuant to a Bond Resolution (the
"Bond Resolution") adopted by the Atlanta Development Authority, a public body corporate
and politic of the State of Georgia (the "Issuer") on November 20, 2008, and an Indenture of Trust (the "Indenture")
dated as of December 1, 2009, between the Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Trustee"),
the Issuer authorized the issuance of its "Atlanta Development Authority Taxable Lease Purchase Revenue Bond (Tivoli Tenside
Project) Series 2009" to finance a capital project (the "Project"), and on December 30, 2009, the Issuer issued
the initial bond, designated "R-1", to Assignor in the amount of $70,000,000 (the "Bond"). Pursuant to that
certain Assignment and Transfer of Bond dated on or about the date hereof, Assignor has sold, assigned and transfe1Ted unto Assignee
the Bond and all rights thereunder.

 

WHEREAS, Assignor wishes to assign to Assignee
all of its right, title, and interest in and to, and obligations under each of the following documents and agreements executed
in connection with the issuance of the Bond: (1) the Bond Purchase Agreement, dated as of December 1, 2009, among the Issuer, Assignor
(as successor in interest to and assignee of Ten Side Holdings, LLC, a Georgia limited liability
company ("Ten Side Holdings"), as the original purchaser thereunder), in its capacity as purchaser thereunder (in such
capacity, the "Purchaser"), and Assignor (as successor in interest to and assignee of Ten Side Holdings, as the original
lessee thereunder), in its capacity as lessee under the Lease (as defined therein), (2) the Guaranty Agreement, dated as of December
1, 2009, between Assignor (as successor in interest to and assignee of Ten Side Holdings,
as the original guarantor thereunder) and Trustee, and (3) the Home Office Payment Agreement, dated as of December 1, 2009, among
the Issuer, Trustee, and Assignor (as successor in interest to and assignee of Ten Side Holdings, as the original purchaser), in
its capacity as Purchaser and in connection with its use of the Project (as defined
therein) financed with the proceeds of the Bond (collectively, the "Bond Documents"); and

 

WHEREAS, Assignee wishes to assume certain
of Assignor's obligations under the Bond Documents arising from and after the date of this
Agreement.

 

     

     

    

 

AGREEMENT:

 

NOW,  THEREFORE, for
and in consideration of the covenants and agreements herein contained, the parties hereby agree as follows:

 

1.          Defined
Terms. Capitalized terms not defined herein shall have the meanings ascribed thereto in the Bond Documents.

 

2.          Transfer
of Rights and Assumption of Obligations.

 

(a)         Assignor
does hereby absolutely and unconditionally grant, set over, deliver, sell, assign, transfer, and convey to Assignee (1) all of
the right, title, interest, remedies, powers, options, benefits, and privileges of the "Company", the "Guarantor'',
the "Purchaser", and the "Bondholder" or "Holder", and all, if any, other right, title, interest,
remedies, powers, options, benefits, and privileges of Assignor, in, to and under the Bond Documents.

 

(b)         Assignee
hereby assumes all duties and obligations of the "Company'', the "Guarantor", the "Purchaser", and the
''Bondholder" or "Holder" under the Bond Documents arising from and after the date of this Agreement, but only for
so long as Assignee is the owner and holder of the right, title and interest assigned to Assignee hereunder.

 

3.          Miscellaneous.
This Agreement and the rights and obligations of Assignor and Assignee hereunder shall be binding upon and inure to the benefit
of Assignor and Assignee and their respective successors, assigns, heirs, executors, administrators, and personal representatives,
shall be governed by and constructed in accordance with the laws of the State of Georgia, and may not be modified or amended in
any manner other than by a written agreement signed by all parties hereto.

 

[Remainder of this page is blank; signatures
and seals follow]

 

     

     

    

 

IN
WITNESS WHEREOF, each of the parties hereto has caused this
instrument to be executed, sealed and delivered by its duly authorized representative,
all effective as of the day and year first written above.

 

	 	ASSIGNOR:
	 	 
	 	WATERTON TENSIDE OWNER, L.L.C.
	 	a Delaware limited liability company
	 	 	 
	 	By: 	/s/ David R. Schwartz
	 	Name: 	David R. Schwartz
	 	Title: 	Authorized Signatory

 

[signatures continue on next page]

 

     

     

    

 

	 	ASSIGNEE:
	 	 
	 	BR CARROLL TENSIDE, LLC
	 	a Delaware limited liability company
	 	 	 
	 	By: 	/s/ Jordan Ruddy
	 	 Jordan Ruddy, Authorized SignatoryExhibit 10.32

  

ASSIGNMENT AND ASSUMPTION OF
LEASE DOCUMENTS

 

————————··————
Space Above This Line for Recorder’s Use ————————

 

 

 

Return To:

Fidelity National Title Group

5565 Glenridge Connector, STE 300

Atlanta, GA 30342

Attn: Charlotte Hayes - cv

 

     

     

    

 

STATE OF GEORGIA

 

COUNTY OF FULTON

 

ASSIGNMENT AND ASSUMPTION OF
LEASE DOCUMENTS AND OPTION RIGHTS

 

This ASSIGNMENT
AND ASSUMPTION OF LEASE DOCUMENTS AND OPTION RIGHTS (this “Agreement”), is made as of this 14th day of July, 2016,
by and between WATERTON TENSIDE OWNER, L.L.C., a Delaware limited liability company (“Assignor”), and BR CARROLL TENSIDE,
LLC, a Delaware limited liability company. (“Assignee”).

 

WITNESSETH:

 

WHEREAS,
pursuant to a Bond Resolution (the “Bond Resolution”) adopted by the Atlanta Development Authority, a public
body corporate and politic of the State of Georgia (the “Issuer”) on November 20, 2008, and an Indenture of
Trust (the “Indenture”) dated as of December 1, 2009, between the Issuer and The Bank of New York Mellon Trust
Company, N.A., as Trustee (the “Trustee”), the Issuer authorized the issuance of its “The Atlanta Development
Authority Taxable Lease Purchase Revenue Bond (Tivoli Tenside Project) Series 2009” to finance a capital project (the “Project”),
and on December 30, 2009, the Issuer issued the initial bond, designated “R-1 “,
to Assignor in the amount of $70,000,000 (the “Bond”);

 

WHEREAS,
Assignor wishes to assign to Assignee all of its right, title, and interest in and to, and obligations under each of the following
documents and agreements executed in connection with the issuance of the Bond: (1) the Lease Agreement dated as of December 1,
2009, between Assignor (as successor in interest to and assignee of Ten Side Holdings, LLC, a Georgia limited liability company
(“Ten Side Holdings”), as the original lessee thereunder) and the Issuer and the Memorandum of Lease, dated
as of December 29, 2009, between Assignor (as successor in interest to and assignee of Ten Side Holdings, as the original lessee
thereunder) and the Issuer, recorded on December 30, 2009, in the Official Records of the Superior Court of Fulton County, Georgia
in Deed Book 48667, Page 521 (collectively, the “Lease”), demising the leased premises located in the City of Atlanta,
Fulton County, Georgia and described therein and legally described in Exhibit
A, attached hereto
and incorporated herein by reference (the “Premises”); and
(2) the Memorandum of Agreement Regarding Lease Structure and Valuation of Leasehold Interest (Ten Side Holdings, LLC) dated February
9, 2010, among the Issuer, Assi gnor (as successor in interest to and assignee of Ten Side Holdings, as an original party thereto),
and Fulton County Board of Assessors (the “Memorandum”) (the Lease and
the Memorandum, collectively, the “Lease Documents”); and

 

     

     

    

 

WHEREAS,
Assignee wishes to assume certain of Assignor’s obligations under the Lease Documents arising from and after the
date of this Agreement.

 

AGREEMENT:

 

NOW,
THEREFORE, for and in consideration of the covenants and agreements herein contained, the parties hereby agree as follows:

 

1.         Defined
Terms. Capitalized terms not defined herein shall have the meanings ascribed thereto in the Lease Documents.

 

2.         Transfer
of Rights and Assumption of
Obligations.

 

(a)         Assignor
does hereby absolutely and unconditionally grant, set over, deliver, sell, assign, transfer, and convey to Assignee (1) all of
the right, title, interest, remedies, powers, options (including, without limitation, options to purchase the leased premises under
the Lease), benefits, and privileges of the “Lessee”, and all, if any, other right, title, interest, remedies, powers,
options, benefits, and privileges of Assignor, in, to and under the Lease Documents, together with all right, title and interest
of the “Lessee” under the Lease, and all, if any, other right, title and interest of Assignor, in and to the Premises
and any and all rights, members and appurtenances thereto (collectively, the “Leasehold
Estate”); and Assignor shall warrant and forever defend the right and title to the Leasehold Estate unto Assignee,
and the successors, legal representatives and assigns of Assignee, against the claims of all persons whomsoever claiming by, through,
or under Assignor but not otherwise.

 

(b)         Assignee
hereby assumes all duties and obligations of the “Lessee” under the Lease Documents arising from and after the date
of this Agreement.

 

3.         Miscellaneous.
This Agreement and the rights and obligations of Assignor and Assignee hereunder shall
be binding upon and inure to the benefit of Assignor and Assignee und their respective successors, assigns, heirs, executors, administrators,
and personal representatives, shall be governed by and construed in accordance with the laws of the State of Georgia, and may not
be modified or amended in any manner other than by a written agreement signed by all parties
hereto.

 

     

     

    

  

IN WITNESS
WHEREOF, each of the parties hereto has caused this instrument to be executed) sealed and delivered by its duly authorized representative,
all effective as of the day and year first written above.

 

ASSIGNOR:

 

	WATERTON TENSIDE OWNER, L.L.C.,	 	Signed, Sealed and Delivered in the Presence of:
	a Delaware limited liability company	 	 
	 	 	 
	By:	/s/ David R. Schwartz	 	 
	Name:	David R. Schwartz	 	Unofficial Witness
	 	 	 	 
	Title:	Authorized Signatory	 	 
	 	 	 	 
	 	 	 	/s/ Carolyn Martha Lagor
	 	 	 	Notary Public
	 	 	 	 
	 	 	 	My Commission Expires:  5/17/2019
	 	 	 	 
	 	 	 	[AFFIX NOTARY SEAL]

 

 

 

     

     

    

  

	 	 	ASSIGNEE:
	 	 	 
	Signed, sealed and delivered in the	 	 
	Presence of:	 	 
	/s/ Molly Brown	 	BR CARROLL TENSIDE, LLC
	Unofficial Witness 	 	a Delaware limited liability company
	 	 	 
	/s/ Dale Pozzi	 	 
	Notary Public	 	By:	/s/ Jordan Ruddy
	 	 	 	Jordan Ruddy, Authorized Signatory
	(NOTARIAL SEAL)	 	 
	 	 	 
	My commission expires:________	 	 

 

	DALE POZZI	 
	NOTARY PUBLIC·STATE OF NEW YORK	 
	No. 01P0627539 7	 
	Qualified In New York County	 
	My Commission Expires January 28, 2017	 

 

     

     

    

  

EXHIBIT A

 

LEGAL DESCRIPTION

 

ALL THAT TRACT OR PARCEL OF LAND lying and being
in Land Lot(s) 149 & 150 of the 17TH District, Fulton County, Georgia and being more particularly
described as follows:

 

Beginning
at a pk nail set at the southwest end of the mitered intersection of the westerly right-of-way line of Northside Drive (90’
R/W) and the northerly right-of-way line of Tenth Street (60’ R/W) said point being the POINT OF BEGINNING; thence along
the northerly right-of-way line of Tenth Street (60’ R!W the following courses and distances: North 89 degrees 35 minutes
01 seconds West a distance of 27 .90 feet
to a point; thence, North 89 degrees 34 minutes 09 seconds West a distance of 243.08 feet to a point; thence North 89 degrees 31
minutes 07 seconds West a distance of 149.89 feet to a pk nail set at the intersection of said right-of-way line and the easterly
right-of-way line of Watkins street (R/W Varies); thence along the easterly right-of-way line of Watkins Street (R/W Varies) North
02 degrees 59 minutes 27 seconds East a distance of 245.14 feet to a pk nail set at the intersection of said right-of-way line
and the southerly right-of-way line of Edgehill Avenue (40’ R/W); thence along the southerly right-of-way line of Edgehill
Avenue (40’ R!W) South 84 degrees 28 minutes 25 seconds East a distance of 149.84 feet to a point;
thence leaving said right-of-way line North 00
degrees 03 minutes 05 seconds West a distance of 40.33 feet to a point; thence North 00 degrees 05 minutes 47 seconds East, a distance
of 107.91 feet to a pk nail set; thence South 89 degrees 42 minutes 31 seconds East a distance of 39.73 feet to a pk nail set;
thence North 00 degrees 22 minutes 13 seconds East a distance of 100.06 feet to a pk nail set on the southerly right-of-way line
of Eleventh Street (40’ R/W);
thence along said right-of-way line the following courses and distances: North 89 degrees 56 minutes 42 seconds East a distance
of 142.12 feet to a point; thence South 89 degrees 58 minutes 43 seconds East a distance of 105.45 feet to a pk nail set of the
intersection of said right-of-way line and the westerly right-of-way line of Northside Drive (90’
R/W); thence along the westerly right-of-way line of Northside Drive (90’
R/W) the following courses and distances: South 00 degrees 19 minutes 26 seconds West a distance of 147.18
feet to a point; thence South 00 degrees 26 minutes
51 seconds West a distance of 69.53 feet to a point; thence South 00 degrees 32 minutes 10 seconds West a distance of 242.59 feet
to a pk nail set; thence South 48 degrees 31 minutes 09 seconds West a distance of 34.07 feet to a pk nail set and the TRUE POINT
OF BEGINNING ..

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