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A-2006-226
<br />AGREEMENT FOR ACQUISITION OF
<br />CK''~D c~~~csezl REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />THIS AGREEMENT, entered into this ~ day of % 2006, by and between the
<br />CITY OF SANTA ANA, a charter city and municipal co oration duly organized under the
<br />Constitution and laws of the State of California (hereinafter referred to as the "City"), J. Paul and
<br />Arlene M. Thomassen, Trustees (hereinafter called "Seller"), regardless of number or gender;
<br />WITNESSETH
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and
<br />subject to the terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City, and
<br />City agrees to purchase from Seller, all that certain real property (hereinafter referred to as "said
<br />real property") described as follows:
<br />All that certain real property located in the State of California, County of Orange, City of Santa Ana,
<br />described as follows:
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 1255 Bishop, Santa Ana, CA)
<br />Said sale and purchase of said real property shall be in accordance with and subject to all of the
<br />following terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at
<br />the office of LandAmerica Commercial Services, 1920 Main Street, 12t" Floor, Irvine, California,
<br />within thirty (30) days from and after the date on ~aJhich the City has approved this Agreement.
<br />2. Title to be Conveyed. (a) Seller agrees that, except as may hereinafter be otherwise
<br />expressly provided, said real property shall be conveyed by Seller to City, as aforesaid, free and
<br />clear of any and all conditions, restrictions, reservations, exceptions, easements, assessments,
<br />profits, limitations, encumbrances, liens, leases, clouds or defects in title except those exceptions
<br />shown in Paragraph 14 below. Seller hereby warrants that the title to said real property to be
<br />conveyed by Seller to City shall be free and clear as above provided. Seller further agrees that
<br />acceptance by City of any deed to said real property, with or without knowledge of any condition,
<br />restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance, lien,
<br />lease, cloud or defect in title, shall not constitute a waiver by City of its right to the full and clear title
<br />hereinabove agreed to be conveyed by Seller to City, nor of any right which might accrue to City
<br />because of the failure of Seller to convey title as hereinabove provided.
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said
<br />real property to City, within the time and at the place hereinabove specified for said conveyance of
<br />said real property, a policy of title insurance to be issued by the above mentioned title company, with
<br />the City therein named as the insured, In the amount FIVE HUNDRED SIXTY-FIVE THOUSAND DOLLARS
<br />AND No/100 ($565,0(10) insuring the title of the City to said real property is free and clear of any and
<br />all conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations,
<br />encumbrances, liens, leases, clouds or defects in title, excepting such specific ones as city may
<br />hereinafter expressly agree to take subject to. Acceptance by City of any such policy of insurance,
<br />whether such insurance complies with the requirements of this paragraph or not, shall not constitute
<br />a waiver by City of its right to such insurance as is herein required of Seller, nor a waiver by the City
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