|
to the Right of Way Fee Acquisition Area and of the Temporary Easement on, over, and above the
<br />Easement Area by Buyer, and Seller hereby expressly and unconditionally waives any claim for
<br />compensation for injury to the remainder ("severance damages"); precondemnation damages; claims for
<br />inverse condemnation; loss of goodwill and/or lost profits; loss or impairment of any "bonus value"
<br />attributable to any lease; damage to or loss of improvements pertaining to the realty; damage to or loss of
<br />machinery, fixtures, inventory, equipment and/or personal property; any right to repurchase, leaseback
<br />from Seller, or receive any financial gain from, the sale of any portion of the Right of Way Fee Acquisition
<br />Area, or challenge Buyer's adoption of a resolution of necessity, pursuant to Code of Civil Procedure
<br />sections 1245.245; any right to receive any notices pursuant to Code of Civil Procedure section 1245.245;
<br />any right to enforce any other obligation placed upon Seller pursuant to Code of Civil Procedure sections
<br />1245.245, 1263.025 and 1263.615; any other rights conferred upon Defendants pursuant to Code of Civil
<br />Procedure sections 1245.245 and 1263.615 and 1263.025; and attorney's fees and costs. It being
<br />understood that this is a complete and full settlement of all acquisition claims, liabilities, or benefits of any
<br />type or nature whatsoever relating to or in connection with the acquisition of fee title to the Right of Way
<br />Fee Acquisition Area and of the Temporary Easement on, over and above the Easement Area by Buyer.
<br />This release shall survive the Close of Escrow.
<br />B. This Agreement arose out of Buyer's efforts to acquire fee title to the Right of Way Fee Acquisition Area
<br />and of the Temporary Easement in the Easement Area through its municipal authority. Seller, on behalf of
<br />himself, his heirs, executors, administrators, successors and assigns, hereby fully releases Buyer, its
<br />successors, agents, representatives (including attorneys), and assigns, and all other persons and
<br />associations, known or unknown, from all claims and causes of action by reason of any damage which has
<br />been sustained by Seller, or may be sustained by Seller, as a result of Buyer's efforts to acquire fee title to
<br />the Right of Way Fee Acquisition Area and the Temporary Easement on, over and above the Easement
<br />Area or to construct the works of improvement on the Right of Way Fee Acquisition Area, or any
<br />preliminary steps thereto. This Agreement does not, and shall not be construed to, require Seller to
<br />indemnify Buyer for damages which may arise as a result of Buyer's efforts to construct improvements on
<br />the Property.
<br />C. Seller hereby acknowledges that it either has consulted with legal counsel, or had an opportunity to
<br />consult with legal counsel, regarding the provisions of the California Civil Code section 1542, which
<br />provides as follows:
<br />"A general release does not extend to claims which the creditor does not know or suspect
<br />to exist in his or her favor at the time of executing the release, which if known by him or her
<br />must have materially affected his or her settlement with the debtor."
<br />Seller acknowledges that it may have sustained damage, loss, costs or expenses which are presently unknown
<br />and unsuspected, and such damage, loss, costs or expenses which may have been sustained, may give rise to
<br />additional damage, loss, costs or expenses in the future. Nevertheless, Seller hereby acknowledges that this
<br />Agreement has been negotiated and agreed upon in light of that situation, and hereby expressly waives any and
<br />all rights which Seller may have under California Civil Code Section 1542, or under any statute or common law or
<br />equitable principal of similar effect.
<br />This acknowledgment and release shall survive the Close of Escrow.
<br />14. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, P.O. Box 1988, in
<br />the City of Santa Ana 92701, County of Orange, State of California. The mailing address of the Seller is 1224 E.
<br />Warner Avenue, Santa Ana, CA 92705.
<br />15. Exceptions. City agrees to accept title to said real property by the Grant Deed subject to the following:
<br />the non -monetary encumbrances and matters listed in the title report.
<br />110933392.4 0060972-00016
<br />
|