Item 12 - 28 Civic Center Plaza Purchase Agreement

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AGREEMENT OF PURCHASE AND SALE AND INITIAL ESCROW INSTRUCTIONS STATE OF CALIFORNIA DEPARTMENT OF GENERAL SERVICES [Santa Ana Office Building] This Agreement of Purchase and Sale and Initial Escrow Instructions ("Agreement"), dated for reference purposes only as July 7, 2023, is entered into by and between CITY OF SANTA ANA, a California charter city and municipal corporation, ("Buyer"), and THE STATE OF CALIFORNIA, acting by and through its DEPARTMENT OF GENERAL SERVICES (the "State"). State and Buyer are each referred to as a “Party” and collectively as the “Parties”. Recitals A.State is the owner of certain property consisting of approximately 0.46 acres, together with improvements totaling approximately 128,010 square feet made thereon (the “Improvements”), or in any other real or personal property tangible or intangible, located at 28 Civic Center Plaza, Santa Ana (“City”), County of Orange (“County”), State of California, Assessor’s Parcel No(s).: 008-067-36, and is legally described and depicted in Exhibits A and B attached hereto and made a part hereof (the “Property”). B.The Agreement contemplates that the Property is being sold by the State as surplus property pursuant to the provisions of Chapter 430 of the Statutes of 2018, and in accordance with California Government Code Section 11011 et seq. C.Buyer desires to purchase the Property from State and State desires to sell the Property to Buyer upon the terms, conditions and provisions set forth in this Agreement. NOW THEREFORE, in consideration of the above recitals, all of which are expressly incorporated into this Agreement, and the mutual promises and covenants contained in this Agreement, the Parties agree as follows: Agreement 1.Purchase and Sale. State agrees to sell and convey to Buyer, and Buyer agrees to purchase and accept from State, the Property on the terms and subject to the conditions set forth in this Agreement. For the purpose of this Agreement, the date on which Escrow Holder acknowledges in writing receiving a fully executed copy of this Agreement shall be hereinafter referred to as the "Effective Date." 2.Purchase Price. The purchase price ("Purchase Price") for the Property shall be THREE MILLION EIGHT HUNDRED TWENTY-SIX THOUSAND AND NO/100THS DOLLARS ($3,826,000.00). 3.Payment of Purchase Price. The Purchase Price shall be payable by Buyer to State as follows: Page 1 of 19 [PSA-Hanford Armory 6.3.20] EXHIBIT 2