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A-2019-211 <br />O: PWA ( 1 ) <br />Leticia Lopez AGREEMENT <br />OF PURCHASE AND SALE <br />ASSESSOR PARCEL NUMBER(S): 405-272-11, 450-272-12, 405-272-13, 405-272-14, <br />405-272-15, 405-272-16, 405-272-17, 405-272-18, 405-272-21 <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) 405-272-11, 450-272-12, 405-272-13, 405-272-14, 405-272- <br />15, 405-272-16, 405-272-17, 405-272-18, 405-272-21 located at 1303 to 1411 N Bristol <br />St. in the City of Santa Ana, County of Orange, State of California. Buyer desires to <br />purchase a fee interest in such real property owned by Seller as more particularly <br />described and depicted in Exhibit "A", attached hereto and made part hereof ("Property"), <br />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 />GLC7344Nf4,3k1 <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 />