ASSIGNMENT OF CONTRACT
THIS ASSIGNMENT OF CONTRACT, made and entered into this 31st day of
October, 1999, by and among THE DAEDALUS PROJECT, INCORPORATED, a Virginia
Corporation, hereinafter referred to as "Assignor," and DAEDALUS BUILDING
SYSTEMS, INC., a Delaware Corporation, hereinafter referred to as "Assignee."
W I T N E S S E T H:
WHEREAS, Assignor desires to assign and convey the Contract by and
between The Daedalus Project, Incorporated and World Business Investors Group to
Assignee and Assignee desires to accept such assignment and conveyance.
NOW, THEREFORE, for and in consideration of the sum of Ten Dollars
($10.00), receipt of which is hereby acknowledged, and other valuable
consideration, the parties hereto agree as follows:
1. Assignor does hereby assign, transfer, and convey to Assignee all
the right, title, and interest under the aforesaid Contract Agreement, to have
and to hold the same unto Assignee, its successors, executors, and assigns, for
and during the remainder of the term of the aforesaid Contract Agreement and any
renewals or extensions therein provided or subsequently provided by in writing,
subject to the terms, covenants, conditions, and agreements contained therein
and subsequently agreed.
2. Assignee does hereby accept this Assignment of Contract and agrees
to assume all of the duties which the Assignor was obligated to perform under
the said Contract Agreements, for the balance of the term thereof and aforesaid
renewals or extensions.
3. The World Business Investors Group hereby acknowledges that the
aforesaid Contract Agreement is in full force and effect and no breaches or
defaults exist as of the date first above written, and consents to this
Assignment of Contract by the Assignor to the Assignee, but upon the express
condition that such consent from the Assignee shall not be deemed a waiver or
relinquishment of the future covenant against assignment, nor shall the
acceptance of the Assignee to the said contract be construed as releasing the
Assignor from the full performance of the provisions of said Contract Agreement.
IN WITNESS WHEREOF, the parties hereto have duly executed this
Assignment of Contract on the day and year first above written.
ASSIGNOR:
THE DAEDALUS PROJECT, INCORPORATED,
a Virginia Corporation
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By: Xxxxxx X. XxXxxxxxx, President
ASSIGNEE:
DAEDALUS BUILDING SYSTEMS, INC.,
a Delaware Corporation
/s/
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By: Xxxxxx X. XxXxxxxxx, President
WORLD BUSINESS INVESTOR GROUP
/s/
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By: Xxxxx Xxxxxxxx Xxxxxx, President
