|
<br />"
<br />
<br />.f
<br />
<br />e
<br />
<br />-
<br />
<br />A-2007 -225
<br />
<br />OCT 1 6 2007
<br />O. pwA (2.)
<br />. ~ncl.v ub-mfZ"
<br />l\eI\'I' \lbfee~URCHASE AND SALE AGREEMENT AND BILATERAL ESCROW INSTRUCTIONS
<br />FOR ACQUISITION OF REAL PROPERTY
<br />(Residential)
<br />
<br />THIS AGREEMENT (hereinafter "PSA"), entered into on Od-obev- i ,2007,
<br />between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized
<br />under the Constitution and laws of the State of California (hereinafter "City" or "B~yer"), and
<br />
<br />R. Barbara Farkas, Trustee of the Farkas Trust Dated December 20, 198~ 'tRUS T B. ~
<br />
<br />(hereinafter "Seller"), regardless of number or gender;
<br />
<br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements,
<br />and subject to the terms, conditions and provisions of this Agreement, Seller agrees to sell to
<br />City, and City agrees to purchase from Seller, all that certain real property located in the State
<br />of California, County of Orange, City of Santa Ana (hereinafter "Said Real Property") described
<br />as follows:
<br />
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />
<br />(Commonly known as 818 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. Conveyance bv Seller. Seller agrees to convey Said Real Property to City, by Grant
<br />Deed, at the office of First American Title Insurance Company, located at 2 First American
<br />Way, Santa Ana, Ca 92707, within thirty (30) days from and after the date on which the City has
<br />approved this PSA. The City acknowledges and confirms that it possesses the power of
<br />eminent domain with respect to Said Real Property. The City further acknowledges and
<br />confirms that, had seller not agreed to transfer title to Said Real Property to the potential
<br />purchaser, it could be expected that the City would have pursued acquisition of Said Real
<br />Property by other means, which in proper circumstances could have included the exercise of
<br />City's power of eminent domain to acquire Said Real Property by condemnation.
<br />
<br />2. Title to be Conveyed. Seller agrees that, except as may hereinafter be expressly
<br />provided, Said Real Property shall be conveyed by Seller to City, as aforesaid, free and clear of
<br />any and all conditions, restrictions, reservations, exceptions, easements, assessments, profits,
<br />limitations, encumbrances (including any and all leases), 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 shall be free and clear as provided above. Seller further agrees that acceptance
<br />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
<br />(including any and all leases), lien, cloud or defect in title, shall not constitute a waiver by City of
<br />its right to the full and clear title hereinabove agreed to be conveyed by Seller to City, nor of any
<br />right which might accrue to City because of the failure of Seller to convey title as hereinabove
<br />provided. With regard only to the improvements to Said Real Property, City agrees to accept
<br />Said Real Property in its "As-Is" condition.
<br />
<br />Page 1 of?
<br />
<br />Seller's lnitials ~ 1-
<br />
<br />
|