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KLG:ar <br />7/8/78 <br />copy of which Grant Deed is attached hereto and incorporated <br />herein as "Exhibit A". <br />In consideration of Santa Ana's payment of the <br />sum of Five Hundred Eighty Thousand Dollars ($580,000.00), <br />hereinafter specified,.Corporation agrees to convey to <br />Garden Grove, and Garden Grove agrees to accept all of the <br />Corporation's interests in the Encumbered Santa Ana Subsystem. <br />In connection therewith, Corporation agrees to execute and <br />deliver to Garden Grove, on the date of closing, a good and <br />sufficient quitclaim deed conveying said interests in the <br />Encumbered Santa Ana Subsystem, a.copy of which quitclaim <br />deed is attached hereto as said "Exhibit C". <br />3. Property. <br />(a) Property to be Sold. The property to <br />be sold consists of those certain parcels of real property, <br />easements, water facilities, water rights, water pumping <br />rights and other properties owned by Garden Grove or the <br />Corporation and located within the City of Santa Ana and <br />more fully described and set forth in said Exhibits "A", "B", <br />and "C". <br />(b) "Water Service" Defined. As used in this <br />Agreement, the term "water service" shall refer to the active <br />and inactive customer connections within the areas described <br />in said Exhibits "A", "B" and "C". <br />(c) Exhibits. The exhibits to this Agreement <br />that require execution by one or more of the parties hereto <br />have been approved and executed by the respective parties <br />hereto, and copies thereof have been filed in the offices <br />of the City Clerks of Garden Grove and Santa Ana. <br />4. Purchase Price. <br />(a) The total purchasepriceto be paid by <br />Santa Ana for all of said property is the sum of SIX HUNDRED <br />FORTY-SIX THOUSAND DOLLARS ($646,000.00). FIVE HUNDRED EIGHTY <br />THOUSAND DOLLARS ($580,000.00) of said purchase price shall <br />-5- <br />