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<br />A-2005-168 <br /> <br />, <br /> <br />Page I of9 <br /> <br />t. ~01J~",.\ <br />U<.:J~-' <br /> <br />DR. POMEROY, DDS AND A VELINO AND STELLA GOCHICOA <br />ACQUISITION SETTLEMENT AGREEMENT <br /> <br />This Agreement ("Agreement") is made on:Jiitll e ;;<{),~{)CI? by and between the City of <br />Santa Ana ("City"), Dr. Pomeroy ("Tenant") and Avelino and Stella Gochicoa <br />("Owner"). City, Tenant and Owner are hereinafter sometimes referred to collectively as <br />the "Parties". <br /> <br />RECITALS <br /> <br />A. Tenant operates a business commonly known as Dr. Pomeroy Dental Office, and <br />Owner operates a business commonly known as Dental Management Services. Both <br />businesses occupy the real property and improvements located at 117, 119, & 123 S. <br />Bristol, Santa Ana, CA, more specifically described in Exhibit "A" Legal Description, <br />attached hereto and made a part hereof, which shall be referred to herein as the <br />"Property". Tenant is not the owner of the real property. <br /> <br />B. The Property is located within the Project Area for the Bristol Street Widening <br />from Pine Street to Third Street and the City intends to acquire the Property for a <br />public use. <br /> <br />C. The Parties' rights and obligations with regard to the acquisition of the Property <br />by City are in dispute. The Parties desire to establish their respective rights and <br />obligations with regard to the acquisition of the Property by City upon the terms <br />and conditions set forth below. <br /> <br />NOW, THEREFORE, Parties hereto agree as follows: <br /> <br />I. Consideration <br /> <br />(a) City agrees to pay to Tenant and Owner a combined sum of <br />$279,270 (Two Hundred Seventy Nine Thousand Two Hundred Seventy <br />and 00/100 dollars). <br /> <br />(b) Said amount is to be paid to Tenant and Owner after both of the <br />Parties have executed this agreement and after Tenant and Owner have <br />completely vacated the Property and signed and delivered a Certificate of <br />Abandonment to the City. <br /> <br />(c) Tenant and Owner agree that receipt of full payment of the <br />consideration noted in section I (a) above will constitute full satisfaction <br />of any and all of City's obligations to Tenant and/or Owner, <br />without limitation, any obligations for loss of business goodwill, leasehold <br />interest, compensation for personal property. <br />