GARDEN GROVE, CITY OF (21) - Laserfiche WebLink

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KLG:ar 7/8/78 Bill of Sale attached hereto, identified as "Exhibit B", and incorporated herein by this reference. 7. Garden Grove desires to sell, and Santa Ana desires to purchase, the Encumbered Santa Ana Subsystem and the Unencumbered Santa Ana Subsystem. 8. Corporation owns certain property rights in the Dyke System, including but not necessarily limited to an estate for forty (40).years beginning October 1, 1964, and is willing to quitclaim to Garden Grove all of its right, title and interest in and to so much .thereof as is -described in that certain Quitclaim Deed attached hereto, identified as "Exhibit C", and incorporated herein by this reference, in consideration of a certain payment by Santa Ana as here- inafter specified. 9. Garden Grove owns all right, title and interest in and to the real property; together with improvements thereon, which is referred to herein as the Unencumbered Santa Ana Subsystem, and is able to convey clear title to said Subsystem. 10. Garden Grove, by virtue of a deed recorded in Official Records of Orange County, in Book 7401, Page 507, owns, subject to the Bond Indenture, all right, title and interest in and to the real property, together with all improvements thereon, which is part of the Dyke System and is referred to herein as the Encumbered Santa Ana Subsystem, except for the 40 year estate reserved to the Corporation. 11. Garden Grove also owns a leasehold interest in the Dyke System and Encumbered. Santa Ana Subsystem by virtue of that Lease dated February 1, 1965, hereinafter referred to as the "Facilities Lease," by and between the City of Garden Grove and the Corporation and recorded as Document No. 2382 in Book 7401, Page 551 of Official Records of Orange County, which Facilities Lease will end on March 15, 1995. 12. Pursuant to its Articles of Incorporation, the specific and primary purpose for which the Corporation -2-