|
EXHIBIT 3
<br />PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY
<br />AND BILATERAL ESCROW INSTRUCTIONS
<br />THIS AGREEMENT (hereinafter "PSA"), entered into on ,2022,
<br />between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the
<br />Constitution and laws of the State of California (hereinafter "City" or `Buyer"), and Huynh T. Le and My
<br />Nguyen, husband and wife and Hien The Le, a single man, as joint tenants (hereinafter "Seller"),
<br />regardless of number or gender;
<br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject
<br />to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees to
<br />purchase from Seiler, that certain real property (hereinafter "Said Real Property") legally described as
<br />follows:
<br />SEE EXHIBIT "A" — Legal Description
<br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 2247 S. Cedar Street, Santa Ana CA)
<br />(APN 016-212-26)
<br />Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the following
<br />terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at the
<br />office of Fidelity National Title, 4400 MacArthur Blvd., Suite 200, Newport Beach within sixty (60) days from
<br />and after the date on which the City has approved this Agreement.
<br />2. Title to be Conveyed. Seller agrees that, except as may hereinafter be otherwise expressly provided,
<br />said real property shall be conveyed by Seller to City, as aforesaid, free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether
<br />monetary or non -monetary, general or specific, including any and all leasehold interests), liens, clouds or
<br />defects in title except those exceptions shown in Paragraph 15 below. Seller hereby warrants that the title to
<br />said real property to be conveyed by Seller to City shall be free and clear as provided above. Seller further
<br />agrees that acceptance by City of any deed to said real property, with or without knowledge of any condition,
<br />restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance (whether monetary
<br />or non -monetary, general or specific, and including any and all leasehold interests), lien, cloud or defect in
<br />title, shall not constitute a waiver by City of its right to the full and clear title hereinabove agreed to be
<br />conveyed by Seller to City, nor of any right which might accrue to City because of the failure of Seller to
<br />convey title as hereinabove provided.
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said real
<br />property to City, within the time and at the place hereinabove specified for said conveyance of said real
<br />property, a policy of title insurance to be issued by the above mentioned title company, with the City therein
<br />named as the insured, in the amount of Eight Hundred Ten Thousand and no1100 Dollars ($810,000.00)
<br />insuring the title of the City to said real property is free and clear of any and all conditions, restrictions,
<br />reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether monetary or
<br />non -monetary, general or specific, and including any and all leasehold interests), liens, clouds or defects in
<br />title, excepting such specific ones as city may hereinafter expressly agree to take subject to. Acceptance by
<br />City of any such policy of insurance, whether such insurance complies with the requirements of this
<br />paragraph or not, shall not constitute a waiver by City of its right to such insurance as is herein required of
<br />Seller, nor a waiver by the City of any rights of action for damages or any other rights which may accrue to
<br />City by reason of the failure of Seller to convey title or to provide title insurance as required in this Agreement.
<br />
|