|
13. Acknowledgment of Full Benefits and Release.
<br />A. By execution of this Agreement, Seller, on behalf of itself, its, executors, administrators,
<br />successors and assigns, hereby acknowledges that this Agreement provides full payment for the
<br />acquisition of the Property by Buyer, and Seller hereby expressly and unconditionally waives any
<br />claim for compensation for injury to the remainder ("severance damages"); pre -condemnation
<br />damages; claims for inverse condemnation; loss or impairment of any "bonus value" attributable
<br />to any lease; damage to or loss of improvements pertaining to the realty; any right to repurchase,
<br />leaseback from Seller, or receive any financial gain from, the sale of any portion of the Property,
<br />or challenge Buyer's adoption of a resolution of necessity, pursuant to Code of Civil Procedure
<br />sections 1245.245; any right to receive any notices pursuant to Code of Civil Procedure section
<br />1245.246; any right to enforce any other obligation placed upon Seller pursuant to Code of Civil
<br />Procedure sections 1245.245, 1263.025 and 1263.615; any other rights conferred upon Sellers
<br />pursuant to Code of Civil Procedure sections 1245.245 and 1263.615 and 1263.025; and
<br />attorney's fees and costs. It being understood that this Is a complete and full settlement of all
<br />acquisition claims, liabilities, or benefits of any type or nature whatsoever relating to or in
<br />connection with the acquisition of the Property by Buyer. This release shall survive the Close of
<br />Escrow.
<br />B. This Agreement arose out of Buyer's efforts to acquire the Property through its municipal authority.
<br />Seller, on behalf of himself, his heirs, executors, administrators, successors and assigns, hereby
<br />fully releases Buyer, its successors, agents, representatives (including attorneys), and assigns,
<br />and all other persons and associations, known or unknown, from all claims and causes of action
<br />by reason of any damage which has been sustained by Seller, or may be sustained by Seller, as
<br />a result of Buyer's efforts to acquire the Property or to construct the works of improvement
<br />thereon, or any preliminary steps thereto. This Agreement does not, and shall not be construed
<br />to, require Seller to indemnify Buyer for damages which may arise as a result of Buyer's efforts
<br />to construct improvements on the Property.
<br />C. Seller hereby acknowledges that he either has consulted with legal counsel, or had an opportunity
<br />to consult with legal counsel, regarding the previsions of the California Civil Code Section 1542,
<br />which provides as follows"
<br />"A general release does not extend to claims which the creditor does not know or suspect
<br />to exist in his or her favor at the time of executing the release, which if know by him or her
<br />must have materially affected his or her settlement with the debtor."
<br />Seller acknowledges that he may have sustained damage, loss, costs or expenses which are presently
<br />unknown and unsuspected, and such damage, loss, costs or expenses which may have been sustained,
<br />may give rise to additional damage, loss, costs or expenses in the future. Nevertheless, Seller hereby
<br />acknowledges that this Agreement has been negotiated and agreed upon in light of that situation, and
<br />hereby expressly waives any and all rights which Seller may have under California Civil Code Section
<br />1542, or under any statute or common law or equitable principal or similar effect.
<br />This acknowledgement and release shall survive the Close of Escrow.
<br />14. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, P.O. Box
<br />1988, in the City of Santa Ana 92701, County of Orange, State of California. The mailing address of the
<br />Seller is 2430 S. Grand Avenue, Santa Ana, CA 92705.
<br />City Council 22 — 7 12/7/2021
<br />
|