EXXONMOBILE OIL CORPORATION 1-2003

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!i~::':.: ~!'.,,,. :';i;; ~!it~Ul~:;f:ii; ..THE CITY OF SANTA ANA, CALIFORNIA ,. La/~ ~[,r u;.,!J ~ oil AG~E~NT FOR ACQUISITION OF ~''~/9/0 3 ~ PROPERTY ~ ESCROW ~STRUCTIONS TInS AG~E~NT, entered into this ay of ~fA~h. , 2003, by and between the CITY OF S~TA ~A, a cheer city and municipal corporation duly organized under the Constitution and laws of the State of California (hereinafter referred to as the "City"), and EXXONMOBIL O~ CO.OPTION (hereinafter called "Seller"), regardless of number or gender; A-2003-168 WITNESSETH For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City, and City agrees to purchase from Seller, all that certain real property (hereinafter referred to as "said real property") described as follows: All that certain real property located in the State of California, County of Orange, City of Santa Ana, described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF (Approximately 600 square feet of the property Commonly known as 100 W. Macarthur Boulevard, Santa Ana, CA) Said sale and purchase of said real property shall be in accordance with and subject to all of the following terms, conditions, promises, covenants, agreements and provisions, to wit: 1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at the office of First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty (30) days from and after the date on which the City has approved this Agreement. City agrees that (a) it will acquire the Real Property in its then current "as-is" condition, with all faults; and (b) Seller is not making any warranties or representations of any kind regarding the Real Property. The foregoing sentence will survive the delivery and recording of the Grant Deed by Seller to City. 2. Title to be Conveyed. (a) At the Close of Escrow, fee simple to the Real Property will be conveyed to City by Seller by Grant Deed. City and Seller each agree that (i) except as specifically provided in the Grant Deed, Seller makes no express or implied warranties regarding the condition of title to the Real Property, and (ii) City shall obtain a title policy for protection against any title defects. City shall pay at its sole expense all premiums and other charges for any title policy and endorsements. The foregoing sentence will survive the delivery and recording of the Grant Deed by Seller to City. If the Real Property is subject to any encumbrances to which City objects, City shall have the right to elect not to purchase the Real Property.