SANTA ANA UNIFIED SCHOOL DISTRICT (21)

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INSURANCE NOT REQUIRES WORK MAY PROCEED A-2022-218-01 CLERK OF THE COUNCIL DATE: DEC 2 2 2022 Assessor's Parcel No: County: PURCHASEAND SALE AGREEMENT 399-151-01 Orange County a:PWA t 1� A 'n -1 1 �Thls Purchase and Sale Agreement ("Agreement") is made and entered into on this 8th day of November L/�'(' Yrnto 2022, ("Effective Date") at Santa Ana, California by and between the Santa Ana Unified School District, a California public school district located in the County of Orange, California, ("Seller" or "District"), the City of Santa Ana, a public municipality in the State of California ("Purchaser" or "City"). District and City may be individually referred to herein as a "Party" or collectively referred to as "Parties." RECITALS 1. District intends to sell to City, and City intends to purchase from Seller certain real property and all easements and rights benefiting or appurtenant to the real property, which is comprised of approximately 14Al2 square feet located at 1415 French Street, Santa Ana, California 92704 (APN 398-151-01) (collectively "Property"), as more specifically described in Exhibit "A" attached and made a part hereto. The District will also convey an easement and the location of such as described in Exhibits'B" and "C". 2. District is authorized to sell the Property to City. NOW THEREFORE, in consideration of the covenants and agreements hereinafter set forth, District and City agree as follows: AGREEMENT 1 PROPERTY TO BE PURCHASED 1.1 Seller is the owner, in fee, of the Property. Seller agrees to sell and grant to City fee title to the Property described in Exhibit "A" and convey by a grant deed substantially in the form of Exhibit "D," ("Grant Deed") attached hereto. 1.2 City agrees to pay Seven Hundred Eighty -One Thousand Dollars ($781,000) ("Purchase Price") for the Property, payable as follows: 1.2.1 City shall deposit Forty Thousand Dollars ($40,000) earnest money ("Deposit") into the escrow opened pursuant to the section herein entitled "Establishment of Escrow" within ten (10) days of the Opening of Escrow (defined below). If the sale of the Property as contemplated hereunder is consummated, the Deposit shall be credited toward the Purchase Price. 1.2.2 The remaining portion of the Purchase Price In the amount of Seven Hundred Forty-one Thousand Dollars ($741,000), shall be due and payable at the Close of Escrow (defined below), subject to the conditions set forth in this Agreement. Purchase and Sale Agreement -Santa Ana Unified School District -City of Santa Ana -Water Tower Page 1