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<br />CLEHK Of COUNCIL
<br />
<br />DATb \1 , ¡J -0 L\ AGREEMENT FOR ACQUISITION OF
<br />-, REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />G: AJPr 1Þl
<br />(!..;5ø:5~ THIS AGREEMENT, entered into this 5 day of A,or¡ I ,2004, by and between the CITY OF
<br />SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and laws of the
<br />State of California (hereinafter referred to as the "City"), and Bank One Trust Company, N,A., as Trustee of the
<br />Samuel I. Russell Trust dated 8/3/87 and Bank One Trust Company, N.A., as Trustee of the Edward P. Russell
<br />Trust (hereinafter called "Seller"), regardless of number or gender;
<br />
<br />A-2004-065 f>
<br />
<br />THE CITY OF SANTA ANA, CALIFORNIA
<br />
<br />WITNESSETH
<br />
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the
<br />terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City, and City agrees to purchase
<br />nom Seller, portions of real property (hereinafter referred to as "said real property" or "said portions of real
<br />property") described as follows:
<br />
<br />Certain portions of real property located in the State of California, County of Orange, City of Santa Ana,
<br />described as follows:
<br />
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />
<br />(Commonly known as a portion of 820 South Grand A venue, Santa Ana, CA)
<br />
<br />Said sale and purchase of said real property shall be in accordance with and subject to all of the following terms,
<br />conditions, promises, covenants, agreements and provisions, to wit:
<br />
<br />I. Convevance bv Seller. Seller agrees to convey said portions of real property to City, by Grant Deed, at
<br />the office of First American Title Insurance Company, 2 First American Way, Santa Ana, California, within
<br />thirty (30) days from and after the date on which the City has approved this Agreement.
<br />
<br />2. Title to be Conveved. (a) Seller agrees that, except as may hereinafter be otherwise expressly provided,
<br />said portions of real property shall be conveyed by Seller to City, as aforesaid, nee and clear of any and all
<br />conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances,
<br />liens, leases, clouds or defects in title, except the lease pertaining to the market business known as Nuno Bros.
<br />Market, and Nuno Brothers, Inc., dba Nuno Bros. Market ("Nuno Bros. Market") and except those exceptions
<br />shown in Paragraph 14 below. Seller hereby warrants that the title to said real property to be conveyed by Seller
<br />to City shall be as above provided.
<br />
<br />3. Title Insurance. Seller agrees to deliver to City at City's cost, concurrently with the conveyance of said
<br />real property to City, within the time and at the place hereinabove specified for said conveyance of said real
<br />property, a policy of title insurance to be issued by the above mentioned title company, with the City therein
<br />named as the insured, in the amount TWENTY EIGHT THOUSAND THREE HUNDRED NINETEEN DOLLARS AND
<br />No/IOO ($28,319.00) insuring the title of the City to said real property is nee and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances, liens, leases,
<br />clouds or defects in title, excepting the lease to Nuno Bros. Market and such specific title exceptions as City
<br />may hereinafter expressly approve, which approval shall not be unreasonably withheld.
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