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A-2003-245
<br />
<br /> AGREEMENT FOR ACQUISITION OF
<br /> REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />
<br />THIS AGREEMENT, entered into this 1~01 day of J)e~J~9~ 2003, by and between
<br />the City of Santa Ana, a charter city and municipal corporation organized and existing
<br />under the Constitution and laws of the State of California, (hereinafter "City") and
<br />Ronald E. Birtcher, as Trustee of the Ronald E. Birtcher Family Trust Dated June 27,
<br />1980 and Birtcher Pacific, a California General Partnership (hereinafter "Seller").
<br />
<br />W1TNESSETH
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<br />Seller agrees to sell to City under threat of condemnation, and City agrees to purchase
<br />from Seller, all that certain real property located in the State of California, County of
<br />Orange, City of Santa Ana, (hereinafter "said real property") more particularly described
<br />in Exhibit "A", attached hereto and incorporated by reference (commonly known as a
<br />portion of APN No. 011-262-02, Santa Ana, CA), on the following terms and conditions.
<br />
<br />1. Purchase Price. The full purchase price for said real property, fixtures and
<br />equipment (if any), severance damages and relocation claims pursuant to Government
<br />Code Sec. 7260 et seq., shall be Twenty Three Thousand Nine Hundred Five Dollars and
<br />No/100 ($23,905.00). City shall deposit said purchase price into escrow at least five
<br />days before close of escrow.
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<br />2. Title Insurance. Seller agrees to deliver to City, concurrently with the
<br />conveyance of said real property, a policy of title insurance issued by First American
<br />Title Insurance Company, with the City named therein as insured, in the amount of
<br />Twenty Three Thousand Nine Hundred Five Dollars and No/100 ($23,905.00), insuring
<br />title of the City to said real property is free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations,
<br />encumbrances, liens, teases, clouds or defects in title.
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<br />2. Escrow. City shall open an escrow at the office of First American Title Insurance
<br />Company, 2 First American Way, Santa Ana, Califomia, within five (5) days fi.om and
<br />after the date on which this Agreement is executed. This Agreement constitutes the joint
<br />escrow instructions of the City and Seller. A duplicate original shall be delivered to the
<br />Escrow Agent upon the opening of the escrow.
<br />
<br />The Escrow Agent hereby is empowered to act under this Agreement, and upon
<br />indicating its acceptance of this Agreement, and the General Provisions described in
<br />Exhibit "B", attached hereto and incorporated by reference, shall carry out its duties as
<br />Escrow Agent.
<br />
<br />City shall bear the cost of any transfer taxes, recording fees, cost of title insurance,
<br />reconveyance fees, document preparation fees, escrow fees and any other closing costs
<br />incidental to the conveyance o£said real property. Penalties for prepayment of bona fide
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