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A-2019-213 <br />O:PWAI/) <br />Leticia Lopez AGREEMENT <br />OF PURCHASE AND SALE <br />ASSESSOR PARCEL NUMBER(S): 015-194-37, 015-194-40 <br />THIS AGREEMENT of Purchase and Sale ("Agreement"), dated <br />November 19 , 2019, is entered into by and between the CITY OF SANTA ANA, a <br />California charter city and municipal corporation ("Seller) and Merchant Star <br />International General Trading(" Buyer") for the acquisition by Buyer of certain real <br />property described below. <br />RECITALS <br />A. Seller owns certain real property commonly known as Orange County <br />Assessor Parcel Nos. (APN) 015-194-37, 015-194-40 located at 2235 S Bristol St. and <br />1211 W Warner Ave. in the City of Santa Ana, County of Orange, State of California. <br />Buyer desires to purchase a fee interest in such real property owned by Seller as more <br />particularly described and depicted in Exhibit "A", attached hereto and made part hereof <br />("Property"), and Seller desires to sell the Property. <br />B. A copy of the Grant Deed for the Property in executable format, by which <br />Seller shall convey the Property to Buyer upon the Close of Escrow (as defined below) is <br />attached as Exhibit "B" and incorporated by this reference. <br />C. The parties desire by this Agreement to provide the terms and conditions <br />for the purchase and sale of the Property. <br />AGREEMENT <br />The parties therefore agree as follows: <br />PURCHASE <br />Buyer agrees to buy, and Seller agrees to sell and convey, the Property for the <br />purchase price and upon the terms and conditions hereinafter set forth. <br />ESCROW <br />Upon execution of this Agreement by all parties, the parties shall open an escrow <br />("Escrow") with Commonwealth Land Title Company ("Escrow Holder'), whose address <br />is 4100 Newport Place Drive, Suite 120, Newport Beach, CA 92660, for the purpose of <br />consummating the purchase and sale of the Property, as described herein. The date on <br />which Escrow is opened with Escrow Holder shall be referred to as the "Effective Date." <br />The parties shall execute and deliver to Escrow Holder such escrow instructions prepared <br />by Escrow Holder, as may be required to consummate the transaction contemplated by <br />this Agreement. If there is any inconsistency between such instructions and this <br />Agreement, this Agreement shall control unless the parties expressively agree in writing <br />otherwise. The Escrow instructions shall include the following terms and conditions of <br />sale: <br />