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, '" ,,-'; '..'\,i'. A-2005-090 ;)jr1f:.. 5r-J-7-05 .i' ./1 i"ieil C()wl'\ (lL~eil.\e,0 ACQUISITION SETTLEMENT AGREEMENT This Agreement ("Agreement") is made on M.!cLI ~ l~Dc6 by and between the City of Santa Ana ("City"), and Clear Channel Media ('Tenant"). City and Tenant are hereinafter sometimes referred to collectively as the "Parties". RECITALS A. Tenant operates a business commonly known as Clear Channel Media, and is the occupant of real property located at 114 S. Bristol Street, Santa Ana, CA, more specifically described in Exhibit "A", Legal Description, attached hereto and made a part hereof, which shall be referred to herein as the "Property". Tenant is not the owner of the real property. B. The Property is located within the Project Area for the Bristol Street Widening Project from Pine Street to Third Street and the City intends to acquire the Property for a public use. C. The Parties' rights and obligations with regard to the acquisition of the Property by City are in dispute. The Parties desire to establish their respective rights and obligations with regard to the acquisition of the Property by City upon the terms and conditions set forth below. NOW, THEREFORE, Parties hereto agree as follows: l. Consideration a) City agrees to pay to Tenant the sum of $19,403 (Nineteen Thousand Four Hundred Three Dollars). (b) Tenant agrees that receipt of full payment of the consideration noted in section 1 (a) above will constitute full satisfaction of any and all of City's obligations to Tenant, including without limitation, any obligations for loss of business goodwill, leasehold interest, compensation for personal property, Improvements Pertaining to Realty as described in Exhibit "B", and/or damages of any nature. 2. Vacation Date Tenant shall vacate the Property within 30 days after this agreement has been fully executed by both Parties, but not before receiving the consideration as written in paragraph 1 (a) on page one of this agreement. I