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IP•1�aU A-2019.001 JAN 31 2015 AGREEMENT •��,�� OF PURCHASE AND SALE ASSESSOR PARCEL NUMBERS: 004-113-19 and 004-113-34 THIS AGREEMENT of Purchase and Sale ("Agreement"), dated AJQL� " , 2018, is entered into by and between the CITY OF SANTA ANA, a California charter city and municipal corporation ("Seller") and Marshall -Kelley, LLC, a California limited liability company ("Buyer") for the acquisition by Buyer of certain real property described below. A. Seller owns certain real property commonly known as Orange County Assessor Parcel Nos. (APN) 004-113-19, and 004-113-34, located at 1301 and 1305 West Twelfth Street, in the City of Santa Ana, County of Orange, State of California. Buyer desires to purchase a fee interest in such real property owned by Seller as more particularly described and depicted in Exhibits "A-1" and "A-2", attached hereto and made part hereof ("Property"), and Seiler desires to sell the Property. B. A copy of the Grant Deeds for APN Nos. 004-113-19, and 004-113-34, filed with the County of Orange as Document Nos. 2016000282070 and 2017000086484, are attached hereto as Exhibit "B-1" and "B-2" and incorporated herein by this reference. C. The subject Property was acquired by Seller in 2016 and 2017 as part of the Bristol Street Improvement Project. These parcels are vacant and are not needed for public use or improvements. D. The parties desire by this Agreement to provide the terms and conditions for the purchase and sale of the Property. AGREEMENT The parties therefore agree as follows: PURCHASE Buyer agrees to buy, and Seller agrees to sell and convey, the Property for the purchase price and upon the terms and conditions hereinafter set forth. ESCROW Upon execution of this Agreement by all parties, the parties shall open an escrow ("Escrow") with Commonwealth Land Title Company ("Escrow Holder"), whose address is 4100 Newport Place Drive, Suite 120, Newport Beach, CA 92660, for the purpose of consummating the purchase and sale of the Property, as described herein. The date on which Escrow is opened with Escrow Holder shall be referred to as the "Effective Date." The parties shall execute and deliver to Escrow Holder such escrow instructions prepared by Escrow Holder, as may be required to consummate the transaction contemplated by this Agreement. If there is any inconsistency between 5207.01 -PSA -1 11218R