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<br />A-2003-050 <br /> <br /># <br /> <br />STA.TE OF CA.LIFORNIA. <br /> <br />DEPARTMENT OFTRA.NSPORTA.TlON <br /> <br />PURCHASE AND SALE AGREEMENT - REAL PROPERTY - DD-073897-01-01 <br /> <br />In this Agreement dated I ~ I i J'O '/ , by and between the City Of Santa Ana, a charter <br />city and mooicipal corporation, duly organized under the constitution and law of the State of California, <br />hereinafter known as "Buyer" and State Of California, Department Of Transportation, hereinafter known <br />as "Seller", the parties agree as follows: <br /> <br />Buyer hereby agrees to purchase and Seller hereby agrees to sell that vacant and unimproved real property <br />located in the City of Santa Ana, County of Orange, California, and legally described on Director's Deed No. <br />DD 073897-01-01 (hereinafter referred to as the "property"), for the sum of Forty Six Thousand Five <br />Hundred Seventy Dollars ($46,570.00). <br /> <br />Subiect to the following conditions: <br /> <br />I <br />The Buyer intends to purchase the property without TEA-SHOPP fund, but with City food, and agrees to pay <br />in full the purchase price of Forty Six Thousand, Five Hundred Seventy Dollars ($46,570.00) within thirty <br />days after the final execution of the contribution agreement. All payments shall be made to State of <br />California, Department of Transportation, and mailed to the State of California, Department of <br />Transportation, Southern Right of Way Region, Excess Land Sales, 21073 Pathfinder Road, Suite 100, <br />Diamond Bar, CA 91765. <br /> <br />II <br />All sales made subject to the approval of the California Transportation Commission, (CTC) or its designee. <br />In the event that the California Transportation Commission or its designee fails to approve this sale, all <br />monies heretofore paid by the Buyer will be refunded without interest. <br />III <br />The Seller is willing to process this sale at no charge to the Buyer, except for the items set forth in paragraph <br />IV below. Buyer, at its option, may open an escrow at its own expense. The Seller will pay no escrow fees. <br /> <br />IV <br />The Buyer agrees to pay any and all recording fees, documentary stamp tax and monumentation fees <br />chargeable by the County Recorder. At a later date, the Seller will request that these fees are forwarded, and <br />Buyer shall submit to the seller upon demand. <br />V <br />The Buyer expressly understands that the right, title and interest in the property to be conveyed shall not <br />exceed that vested in the State of California and that the Seller will furnish no policy of title insurance. If a <br />policy of title insurance is desired, the Seller will obtain one, upon request, at the Buyer's expense. <br /> <br />VI <br />The property is being sold "as is" and is being conveyed subject to any special assessments, restrictions, <br />reservations or easements of record and subject to any reservations contained in the Director's Deed. Buyer <br />may examine any information the Seller has relative to these matters. <br /> <br />VII <br />In the event suit is brought by either party to enforce the terms and provisions of this Agreement or to secure <br />the performance hereof, each party shall bear its own attorney's fees. <br />The Buyer agrees that the title of the property being conveyed shall not pass until the Director's Deed has <br />been recorded. The Buyer shall not take possession of the property until the director's Deed is recorded. <br /> <br />Page] of2 <br />