|
<br />A-2007-075
<br />
<br />",.I'^-l~\
<br />0'.1-''''''' .eN
<br />ut 1ovTj-erJ.
<br />
<br />PURCHASE AND SALE AGREEMENT FOR ACQUISITIONOF REAL PROPERTY
<br />AND BILATERAL ESCROW INSTRUCTIONS
<br />(Commercial)
<br />
<br />THIS AGREEMENT (hereinafter "PSA"), entered into this ~/1tLday of ;rn' / , 2007,
<br />between the CITY OF SANTA ANA, a charter city and municipal corporatio duly organized
<br />under the Constitution and laws of the State of California (hereinafter "City" or "Buyer"), and
<br />The Gaston and Ruth Cilliani Living Trust, dated February 31, 1991 (hereinafter "the Trust"), by
<br />and through Gaston Cilliani and Ruth Cilliani, Co-Trustees of the Trust (hereinafter "Seller"),
<br />regardless of number or gender;
<br />
<br />WITNESSETH
<br />
<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,
<br />and City agrees to purchase from Seller, all that certain real property (hereinafter "Said Real
<br />Property") described as follows:
<br />
<br />All that certain real property located in the State of California, County of Orange, City of Santa
<br />Ana, described as follows:
<br />
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />
<br />(Commonly known as a portion of 420 S. Bristol Street, Santa Ana, CA)
<br />
<br />Said purchase and sale of Said Real Property shall be in accordance with and subject to all of
<br />the following terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />
<br />1. Convevance bv Seller. Seller agrees to convey Said Real Property to City, by Grant
<br />Deed, at the office of LandAmerica Commercial Services, 1920 Main Street, 12'" Floor, Irvine,
<br />within thirty (30) days from and after the date on which the City has approved this Agreement.
<br />
<br />2. Title to be Conveved. (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
<br />and clear of any and all conditions, restrictions, reservations, exceptions, easements,
<br />assessments, profits, limitations, encumbrances (whether monetary or non-monetary, general
<br />or specific, including any and all leasehold interests), liens, clouds or defects in title, except
<br />those exceptions shown in Paragraph 15 below. Seller hereby warrants that the title to Said
<br />Real Property to be conveyed by Seller to City shall be free and clear as provided above. Seller
<br />further agrees that acceptance by City of any deed to Said Real Property, with or without
<br />knowledge of any condition, restriction, reservation, exception, easement, assessment, profit,
<br />limitation, encumbrance (whether monetary or non-monetary, general or specific, and including
<br />any and all leasehold interests), lien, cloud or defect in title, shall not constitute a waiver by City
<br />of its right to the full and clear title hereinabove agreed to be conveyed by Seller to City, nor of
<br />any right which might accrue to City because of the failure of Seller to convey title as
<br />hereinabove provided.
<br />
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of
<br />Said Real Property to City, within the time and at the place hereinabove specified for said
<br />conveyance of Said Real Property, a policy of title insurance to be issued by the above
<br />
<br />Page 1 of 12
<br />
|