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1) To construct the Warner Avenue Improvement Project, the City seeks to <br />fully take the subject Property. <br />2) The Owner exchanges such Owner's property for the empty land located <br />at the nearby block: 2246 S. Cvpress Avenue, Santa Ana CA 92707 <br />Orange County, Assessor Parcel No. 403-141-09. Such empty land has <br />been acquired, vacated, and owned by the City. Attached is the land <br />ROW Exhibit. <br />3) The City permits the Owner to construct a new building at the empty land <br />with the same zoning as the previous owner had (CR zoning), according to <br />the "grandfather's law". <br />4) After the land exchange, the City pays the Owner the difference between <br />the appraised value of the subject property and the empty land. <br />5) The City pays the Owner the loss of use (rental loss) between demolishing <br />the subject property and the new building is built and rented out. <br />6) The City pays the demolishing & trashing cost and tenant's relocation fee. <br />7) The City pays the Appraisal reimbursement fee up to $5,000. <br />If the City accepts this proposal, we can proceed together on this transaction <br />soon. Therefore, the Adoption of Resolution of Necessity to Acquire Real <br />Property by Eminent Domain or other court proceeding is not necessary. <br />Respectfully, <br />By:�— <br />Jia Yuh Shen <br />CEO of JPacific International <br />JPacific International as trustee of 215 Warner SA Land Trust dated July 7, 2014 <br />13043 Bach Way, Cerritos, CA 90703 <br />By: <br />Alan Shen <br />Beneficiary of 215 Warner SA Land Trust dated July 7, 2014 <br />-_— Page 2 <br />