ORANGE, COUNTY OF - BOARD OF SUPERVISORS

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N-2002-040 :;_%_,A0I. yi RFQlJ1RED/WAhV'ED r�cdv� WORK MAY PROCEED CLERK OF COUNCIL AGREEMENT TO PURCHASE TAX -DEFAULTED PROPERTY DATE: S-3-0 a This Agreement is made this 22°d day of April, 2002 by and between the Board of Supervisors of Orange County, State of California, and the Redevelopment Agency of the City of Santa Ana a public body, corporate and on litic("PURCHASER"), pursuant to the provisions of Division 1, Part 6, Chapter 8, of the Revenue and Taxation Code. The real property situated within said County, hereinafter set forth and described in this Agreement is tax -defaulted and is subject to the power to sale by the tax collector of said County for the nonpayment of taxes, pursuant to provisions of law. WITNESSETH WHEREAS, there is situated in the City of Santa Ana ("City") that certain real property described in Exhibit "A", attached hereto and made a part hereof, which has been tax -defaulted for five (5) years or more, and WHEREAS, the taxes which are levied on said property include taxes which are collected on behalf of the City by the Orange County Tax Collector, and WHEREAS, PURCHASER needs the property described in Exhibit "A" for redevelopment, park, street or other public purposes and intends to devote the property to said purpose two (2) years from the date this Agreement becomes effective. TERMS AND CONDITIONS It is mutually agreed as follows: 1. That as provided by Section 3800 of the Revenue and Taxation Code, the cost of giving notice of this Agreement shall be paid by the PURCHASER. 2. That the PURCHASER agrees to pay the sum set forth in Exhibit "A", under the heading "PURCHASER PRICE," within forty-five (45) days after the date this Agreement becomes effective. Upon payment of said sum to the tax collector, the tax collector shall execute and deliver a deed conveying title to said property to PURCHASER. 3. That for two (2) years following the date upon which this Agreement becomes effective, PURCHASER will not offer said property for sale. 4. That within two (2) years from the date this Agreement becomes effective, PURCHASER will either devote said property to redevelopment purposes, or execute a rescission of the tax deed as provided for in paragraph 5, herein. 5. That in the event PURCHASER fails to devote said property to redevelopment, park, street or other public purposes within two (2) years after the date of recordation of the deed, or if PURCHASER desires to divest itself of said property within said two (2) year period, and not within any extension period approved by the Board of Supervisors, PURCHASER shall execute a rescission of the tax deed which conveyed such property to PURCHASER, and the stature of such property will return to that of tax -defaulted real property. 6. That as provided by Section 3808 of the Revenue and Taxation Code, the amount of the "PURCHASER PRICE" paid pursuant to this Agreement to the Orange County Tax -Collector shall be deposited, like tax collections in the delinquent sale trust fund and shall be distributed pursuant to Section 4671 et seq. of the Revenue and Taxation Code.