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EXHIBIT D <br /> FORM OF ASSUMPTION AGREEMENT <br /> THIS ASSUMPTION AGREEMENT(herein"this Agreement")is entered into this <br /> day of 2005,by and between THE JOE J. AND LILLIAN E. MACHADO <br /> FAMILY TRUST, dated March 17, 1993, and restated May 17, 1993 ("Machado') (herein <br /> collectively the "Assignor Developer") and (herein "Assignee Developer"). <br /> Recitals <br /> A. The Assignor Developer has entered into a Development Agreement entitled <br /> dated , 2005 (herein, "the Development Agreement"), with <br /> the County of San Joaquin, pursuant to which the Developer agreed that the development of <br /> certain property more particularly described in the Development Agreement(herein "the <br /> Property") in the Mountain House Community will be carried out subject to certain <br /> requirements, conditions and obligations set forth in the Development Agreement. <br /> B. The Assignor Developer has assigned its interests under the Development <br /> Agreement to the Assignee Developer under a written agreement dated <br /> 20 , as to that portion of the Property identified and described in Attachment No. 1, attached <br /> hereto and incorporated herein by this reference (herein the "Assigned Parcel(s)"). <br /> C. The Assignee Developer desires to assume all of the Assignor Developer's <br /> obligations and other terms and conditions under the Development Agreement with respect to the <br /> Assigned Parcel(s). — <br /> Agreements <br /> NOW, THEREFORE, THE ASSIGNOR DEVELOPER AND ASSIGNEE <br /> DEVELOPER HEREBY AGREE AS FOLLOWS: <br /> L The Assignee Developer hereby assumes all of the burdens and obligations of the <br /> Developer under the Development Agreement, and agrees to observe and fully perform all of the <br /> duties and obligations of the Developer under the Development Agreement, and to be subject to <br /> all the terms and conditions thereof, with respect to the Assigned Parcel(s), it being the express <br /> intention of both the Assignee Developer and Assignor Developer that, upon the execution of <br /> this Agreement,the Assignee Developer shall become substituted for the Assignor Developer as <br /> the "Developer"under the Development Agreement with respect to the Assigned Parcel(s). <br /> W02-SF:FPD\61481145.2 Exhibit D <br />