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-2003-016
<br />CITY OF SANTA ANA, CALIFORNIA
<br />AGREEMENT FOR ACQUISITION OF
<br />REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />THIS AGREEMENT, made and entered into this day of kUq 2003,
<br />by and between the CITY OF SANTA ANA, a municipal corporation organized and
<br />existing under the Constitution and laws of the State of California, hereinafter referred to
<br />as the "CITY" and Pamela Nguyen, hereinafter referred to as the "BUYER".
<br />WITNESSETH:
<br />For and in consideration of their promises, covenants and agreements hereinafter set
<br />forth, and subject to the terms, conditions and provisions hereinafter set forth, CITY
<br />agrees to sell to BUYER, and BUYER agrees to purchase from City, all that certain real
<br />property located on 2606 Westminster Avenue (APN: 198-132-01) more particularly
<br />described in Exhibit A and B attached hereto and hereinafter referred to as "said real
<br />property".
<br />Said sale and purchase of said real property shall be in accordance with and subject to
<br />all of the following terms, conditions, promises, covenants, agreements and provisions,
<br />to wit:
<br />1. Conveyance by CITY. CITY agrees to convey said real property to BUYER, by
<br />Grant Deed, at the office of First American Title Insurance Company, 2 First
<br />American Way, Santa Ana, California within SIXTY (60) days from and after the date
<br />on which the CITY has approved this Agreement and all contingencies have been
<br />satisfied or waived.
<br />2. Title to be Conveyed. CITY agrees that, except as may hereinafter be otherwise
<br />expressly provided, said real property shall be conveyed by CITY to BUYER, as
<br />aforesaid, free and clear of any and all conditions, restrictions, reservations,
<br />exceptions, assessments, projects, limitations, encumbrances, liens, leases, clouds
<br />or defects in title, excepting such specific ones as BUYER may hereinafter expressly
<br />agree to take subject to. BUYER is to obtain a preliminary title report and unless
<br />BUYER advises CITY of any unacceptable exceptions to title within ten (10) days of
<br />receipt of said preliminary title report; it shall be deemed that BUYER has approved
<br />all exceptions in said preliminary title report. In the event that BUYER advises CITY
<br />of any unacceptable provisions, CITY agrees to use its best efforts to remove said
<br />unacceptable exceptions to title. In the event that CITY is unable to remove said
<br />unacceptable exceptions, prior to the close of escrow, BUYER shall have the option
<br />of (1) terminating the purchase; or (2) completing the purchase of Property in its "as
<br />is " condition.
<br />3. Title Insurance. At BUYER's determination and at BUYER's cost, BUYER may,
<br />concurrently with the conveyance of said real property, within the time and at the
<br />place hereinabove specified for said conveyance, a policy of title insurance to be
<br />issued by the above mentioned title company, which the BUYER therein is named
<br />as the insured, in the amount of ONE HUNDRED FIFTEEN THOUSAND DOLLARS
<br />($115,000), insuring title to said real property, free and clear of any and all
<br />
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