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<br />. <br /> <br />Page I of9 <br /> <br />ACQUISITION SETTLEMENT AGREEMENT <br /> <br />This Agreement ("Agreement") is made on by and between the City of <br />Santa Ana ("City"), Santa Ana Family Medical Group, Inc., dba North Bristol <br />Medical Group ("Tenant"), and P & P Land Management, LLC ("Owner"). City, <br />Tenant and Owner are hereinafter sometimes referred to collectively as the "Parties". <br /> <br />RECITALS <br /> <br />A. Tenant operates a business commonly known as the North Bristol Medical Group, <br />and is the occupant of real property and improvements located at 217 N. Bristol <br />Street, Santa Ana, CA, more specifically described in Exhibit "A", Legal <br />Description, attached hereto and made a part hereof, which shall be referred to <br />herein as the "Property". P & P Land Management, LLC is the owner of the <br />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 />1. Consideration <br /> <br />(a) City agrees to pay to Tenant the sum of FOUR HUNDRED FIFTY FIVE <br />THOUSAND AND Noll 00 DOLLARS ($455,000). <br /> <br />(b) In the event the Tenant modifies their "Business Relocation Agreement", all <br />Parties agrees that any relocation claim paid above $20,000 will result in an <br />equal reduction in this Acquisition Settlement of amount of$455,000. <br /> <br />(c) Payment for the Acquisition Settlement, as described in paragraph lea) and <br />I(b) of this agreement will be made payable to North Bristol Medical Group <br />and P & P Medical Management, LLC (FEI number 26-0071657). <br /> <br />(d) Said amount is to be paid only after both of the Parties have executed this <br />agreement and after Tenant has completely vacated the Property, and has <br />Tenant signed and delivered a Certificate of Abandonment to the City. Said <br />amount, as identified in paragraph I of this agreement will be paid within 14 <br />days of the City's receipt and acceptance ofthis Certificate of <br />