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<br />I;: URANCE NOT REQU!fiLD
<br />WORK MAY I'ROCEED
<br />CLERK OF COUNCIL AGREEMENT FOR ACQUISITION OF
<br />DATE: S -/).-01 REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />
<br />~~ THIS AGREEMENT, entered into this JStãay of M~ ,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 the COMMUNITY REDEVELOPMENT
<br />AGENCY OF THE CITY OF SANTA ANA, a public body, corporate and politic (hereinafter called "Agency").
<br />
<br />A-2004-088
<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, City agrees to sell to Agency, and Agency agrees to
<br />purchase from City, all that certain real property (hereinafter referred to as "said real property") described as
<br />follows:
<br />
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE APART HEREOF
<br />
<br />(Commonly known as 435-437 S. Birch Street, 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 Citv. City agrees to convey said real property to Agency, by Grant Deed, at the office of
<br />First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty (30) days
<br />from and after the date on which the Agency has approved this Agreement.
<br />
<br />2. Title to be Conveved. City agrees that, except as may hereinafter be otherwise expressly provided, said
<br />real property shall be conveyed by City to Agency, as aforesaid, free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances, liens, leases,
<br />clouds or defects in title except those exceptions shown in Paragraph 14 below. City hereby warrants that the
<br />title to said real property to be conveyed by City to Agency shall be free and clear as above provided. City
<br />further agrees that acceptance by Agency of any deed to said real property, with or without knowledge of any
<br />condition, restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance, lien, lease,
<br />cloud or defect in title, shall not constitute a waiver by Agency of its right to the full and clear title hereinabove
<br />agreed to be conveyed by City to Agency, nor of any right which might accrue to Agency because of the failure
<br />of City to convey title as hereinabove provided.
<br />
<br />3. Title Insurance. City agrees to deliver to Agency, concurrently with the conveyance of said real property
<br />to Agency, within the time and at the place hereinabove specified for said conveyance of said real property, a
<br />policy of title insurance to be issued by the above mentioned title company, with the Agency therein named as
<br />the insured, in the amount Four Hundred Eleven Thousand Dollars And No/IOO ($411,000.00), insuring the title
<br />of the Agency to said real property is free and clear of any and all conditions, restrictions, reservations,
<br />exceptions, easements, assessments, profits, limitations, encumbrances, liens, leases, clouds or defects in title,
<br />excepting such specific ones as Agency may hereinafter expressly agree to take subject to. Acceptance by
<br />Agency of any such policy of insurance, whether such insurance complies with the requirements of this
<br />paragraph or not, shall not constitute a waiver by Agency of its right to such insurance as is herein required of
<br />City, nor a waiver by the Agency of any rights of action for damages or any other rights which may accrue to
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