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W <br />O9L OVOV <br />LETTER OF INTENT BETWEEN <br />COUNTY OF ORANGE <br />AND <br />CITY OF SANTA ANA <br />THIS LETTER OF INTENT ("LOI") is made and entered into March 31, 2022, by and <br />between the COUNTY OF ORANGE, a political subdivision of the State of California <br />("County") and the CITY OF SANTA ANA ("City"). The County and the City may be <br />referred to herein individually as a "Party" or collectively as the "Parties." <br />RECITALS <br />A. The County is the fee owner of an approximately 2.2 acre parcel which <br />contains portions of APN 008-036-39 and APN 008-067-46 and is commonly <br />known as the "Plaza of the Flags." The parcel is illustrated on Exhibit A, <br />attached hereto, as Parcel A. <br />B. The City is the fee owner of an approximately 0.7 acre parcel which contains <br />a portion of APN 008-036-35 and is commonly known as the "Library <br />Parking Structure." The parcel is illustrated on Exhibit A, attached hereto, as <br />Parcel B. <br />C. The purpose of this LOI is to memorialize the intent of the Parties to enter into <br />negotiations for an agreement wherein the Parties would agree to a land swap <br />that would result in the City acquiring all interest in the Plaza of the Flags and <br />the County acquiring all interest in the Library Parking Structure ("Land <br />Swap Agreement"). <br />LETTER OF INTENT <br />NOW, THEREFORE, County and City agree to enter into negotiations for the <br />preparation of a Land Swap Agreement to memorialize the proposed exchange materially <br />as follows: <br />1. The County shall convey fee ownership of Parcel A to the City via a Land <br />Swap Agreement. <br />2. The City shall convey fee ownership of Parcel B to the County via a Land <br />Swap Agreement. <br />3. No monetary value shall be exchanged as part of the Land Swap Agreement. <br />City Council 20 — 5 10/4/2022 <br />Page 1 of 2 <br />