MORRISON, TOM AND PATRICIA, HSIEH, JIMMY AND MARQUEZ, NATALIE

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ti INSURANCE NOT REQUIRED QJ " WORK MAY PROCEED CLERK OF COUNCIL Q � DATE: �•.PwA' u) PARCEL y>*PROJECT:O FLOWER WELL — RIGHT OF WAY ACQUISITIONS AGREEMENT FOR ACQUISITION OF REAL PROPERTY AND ESCROW INSTRUCTIONS A-2022-195 THIS AGREEMENT FOR ACQUISITION OF REAL PROPERTY AND ESCROW INSTRUCTIONS (this "Agreement') is entered into this 4 in day of 0 Dh Oef 2022 by and between the CITY OF SANTA ANA, a municipal corporation ("Clty"), AND TOM MORRISON, PATRICIA MORRISON, JIMMY HSIEH AND NATALIE MARQUEZ, CO -TRUSTEES OF JOHN AND MARGARET MARQUEZ TRUST, HELD UNDER AGREEMENT DATED FEBRUARY 28, 2002 SUBJECT TO ITEM NO. S. (collectively, "Seller") for acquisition by Buyer of certain real property hereinafter set forth. IT IS HEREBY MUTUALLY AGREED BETWEEN THE PARTIES AS FOLLOWS: 1. AGREEMENTTO SELL AND PURCHASE. Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, upon the terms and for the consideration set forth in this Agreement, all that certain real property ("Property") situated in the City of Santa Ana, County of Orange, State of California, and legally described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF 2. PURCHASE PRICE. The total purchase price, payable in cash through escrow, shall be the sum of Seventy- Five Thousand Dollars and no/100 Dollars ($775,000.00) (the "Purchase Price'). 3. CONVEYANCE OF TITLE. Seller agrees to convey by Grant Deed to Buyer marketable fee simple title to the Property free and dear of all recorded and unrecorded liens, encumbrances, assessments, easements, leases, and taxes EXCEPT: A. All taxes for the current fiscal year prorated as per Section 5. B. Quasl-public utility, public alley, public street easements, and rights of way of record. C. Other items as shown on Preliminary Title Report to be provided and approved by Buyer in Its sole discretion in Escrow. 4. TITLE INSURANCE POLICY. Escrow Agent shall, following recording of the Deed to Buyer, cause Buyer to be provided with a CLTA Standard Coverage Policy of Title Insurance in the amount of $775,000.00 issued by a title company of Buyer's choice showing the title to the Property vested In Buyer, subject only to the exceptions set forth in Section 3 and the printed exceptions and stipulations In said policy. Buyer agrees to pay the premium charged therefore. 5. ESCROW, Buyer and Seller agree to open an escrow in accordance with this Agreement at Commonwealth Land Title Insurance Company, 410G Newport Place Drive, Suite 120, Newport Beach, CA 92660. This Agreement constitutes the joint escrow instructions of Buyer and Seller, and Escrow Agent to whom these instructions are delivered is hereby empowered to act under this Agreement. The parties hereto agree to do all acts necessary to close the escrow established hereby In the shortest possible time. Seller has executed and delivered a Grant Deed ("Deed') to Buyer concurrently with this Agreement, Page 1