Item 15 - Land and Street Easement Sale Agreements

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ORANGE COUNTY TRANSPORTATION AUTHORITY RIGHT OF WAY CONTRACT SR-55 IMPROVEMENT PROJECT Vacant land, East side of Ritchey Street adjacent 103739-1 to SR-55, North of Warner Avenue, Santa Ana, 103739-2 CA 92705 103739-3 Property Address 6071029 CONFIDENTIAL This document contains personal information, and pursuant to Civil Code section 1798.21, it shall be kept confidential in order to protect against unauthorized disclosure. 403-072-02 Parcel Nos. APN 09205630-920-CMM-CM8 Federal Project No. Escrow No. Title Order No. RIGHT-OF-WAY CONTRACT The City of Santa Ana, a Municipal Corporation (hereinafter, "Grantor"), owns the real property located on the east side of Ritchey Street, adjacent to SR-55, north of Warner Avenue, Santa Ana, CA in the County of Orange, Assessor Parcel Number 403-072-02 (the "Property"). Portions of the Property are needed for construction of the SR-55 Improvement Project, a public project designed to accommodate the widening of the SR-55, increase freeway capacity, improve traffic and interchange operations and enhance road safety (the "Project"). Document No. 103739-1 in the form of a Grant Deed (Exhibit Document No. 103739-2 in the form of a Highway Easement Deed (Exhibit "2") and Document No. 103739-3 in the form of a Temporary Construction Easement Deed (Exhibit "Y) to the Orange County Transportation Authority ("OCTA"), covering the property interests as described in Exhibit "A" attached to Exhibit 1, Exhibit "B" attached to Exhibit 2 and Exhibits "C1" and "C2" attached to Exhibit "Y (collectively, the "Property Interests") have been executed and delivered to Dan Akins, Right -of -Way Agent for Paragon Partners, Ltd., agent for OCTA. In consideration of which, and the other considerations hereinafter set forth, it is mutually agreed as follows: (A) The parties have herein set forth the whole of their agreement ("Agreement"). The performance of this Agreement constitutes the entire consideration and shall relieve OCTA of all further obligations or claims on this account, or on account of the location, grade or construction of the proposed public improvement. (B) OCTA requires said Property Interests described in Document Nos. 103739-1, 103739-2 and 103739-3 for the Project, a public use for which OCTA has the authority to exercise the power of eminent domain. Grantor is compelled to sell, and OCTA is compelled to acquire the Property Interests. (C) Both Grantor and OCTA recognize the expense, time, effort, and risk to both parties in determining the compensation for the Property Interests by eminent domain litigation. The compensation set forth herein for the Property Interests is in compromise and settlement, in lieu of such litigation. (D) It is agreed that OCTA shall open an escrow in accordance with this Agreement at an escrow company of OCTA's choice ("Escrow Agent"). This Agreement constitutes the joint escrow instructions of OCTA and Grantor, and Escrow Agent to whom these instructions are delivered is hereby empowered to act under this Agreement. The parties hereto agree to perform all acts reasonably necessary to close this escrow within sixty (60) days following the opening of escrow. 1477543.1