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Therefore, in consideration of the promises, covenants and agreements hereinafter set <br />forth, and subject to the terms, conditions and provisions of this ASA, the Parties agree <br />as follows: <br />1. Consideration <br />a. City agrees to pay Owner, in accordance with the disbursement schedule <br />referenced in section 1(b) through (d), below, the total sum of SIX <br />HUNDRED NINETY-FIVE THOUSAND AND NO/100 DOLLARS 3/2 v%Dq <br />($695,000) as compensation to which Owner may be entitled, including <br />relocation benefits, any and all loss of business goodwill, leasehold 1 4231 s <br />interests, personal property, improvements pertaining to realty, bonus J - <br />value, severance damages, and any and all other damages to which U '�IVb' <br />Owner may be entitled as a result of City's acquisition of the Acquired <br />Property for the Project. All payments as referenced above will be paid <br />only as follows: Veronica Navarro, Ernesto Navarro and Leticia Navarro. Poll <br />b. Upon execution of this ASA, execution and recording of the Easement <br />Deed, Exhibit "C" City will process an initial payment to Owner in the <br />amount of TWO HUNDRED THOUSAND AND NO/100 DOLLARS <br />($200,000.00). <br />C. City will process a second payment to Owner, in the amount of TWO <br />HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00) upon <br />satisfactory evidence to City of Santa Ana Public Works Department, <br />that the improvements necessary to accommodate the Bristol Street <br />road widening, have been incorporated into the Rehabilitation Project <br />and the appropriate building permits obtained from the City of Santa <br />Ana. <br />d. City will process a third payment to Owner in the amount of TWO <br />HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00) upon <br />satisfactory evidence to City that all exterior building improvements, as <br />it relates the retail structure at 421 S. Bristol Street, have been made <br />and approved by City of Santa Ana Building Inspector. <br />e. City will process a final payment to Owner in the amount of NINTEY- <br />FIVE THOUSAND AND NO/100 DOLLARS ($95,000.00) upon <br />satisfactory evidence to City that the entire Rehabilitation Project is <br />completed. <br />f. Payment of the consideration referenced in section 1 of this ASA, shall <br />constitute full satisfaction of any and all of City's obligations to <br />compensate Owner. <br />Page 2 of 13 <br />