|
<br />hereinafter referred to as "said real 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 APN 398-278-03 and 110 West First Street in the City of Santa Ana,
<br />California (referred to herein as "said real property.")
<br />
<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 />
<br />1. Conveyance by Seller. Seller agrees to convey said real property to Buyer, by Grant Deed
<br />in substantially the form of Exhibit "B" hereto, within ten (10) working days of the date of this
<br />Agreement. Seller, as part of this conveyance, to comply with the following land use approvals
<br />of the City of Santa Ana, as they may be amended from time to time, including but not limited to:
<br />
<br />a. Amendment Application No. 2003-09,
<br />b. General Plan Amendment No. 2003-05,
<br />c. Conditional Use Permit No. 2003-31, and
<br />d. Variance No. 2003-08.
<br />
<br />2. Title to be Conveyed. Seller agrees that, except as set forth in Exhibit "C" hereto, which
<br />is incorporated herein by this reference as though fully set forth, said real property shall be
<br />conveyed by Seller to Buyer, as aforesaid, free and clear of any and all conditions, restrictions,
<br />reservations, exceptions, easements, assessments, profits, limitations, encumbrances, liens,
<br />leases, clouds or defects in title except a lien for non-delinquent real property taxes and
<br />assessments. Seller hereby warrants that the title to said real property to be conveyed by Seller to
<br />Buyer shall be free and clear except as above provided. Seller further agrees that acceptance by
<br />Buyer of any deed to said real property, with or without knowledge of any condition, restriction,
<br />reservation, exception, easement, assessment, profit, limitation, encumbrance, lien, lease, cloud
<br />or defect in title, shall not constitute a waiver by Buyer of its right to the full and clear title
<br />hereinabove agreed to be conveyed by Seller to Buyer, nor of any right which might accrue to
<br />Buyer because of the failure of Seller to convey title as hereinabove provided. Either party may,
<br />at its sole cost, obtain title insurance for said property naming it as insured.
<br />
<br />3. Property Taxes. Excepting possessory interest tax, if any, such real property taxes on said
<br />real property for the fiscal year within which said real property is conveyed to Buyer as are
<br />unpaid at the time of said conveyance shall be cleared and paid in accordance with the provisions
<br />of Section 4986 of the Revenue and Taxation Code of the State of California. Seller shall be
<br />eligible for a refund under Section 5096.7 of the Revenue and Taxation Code of the State of
<br />California for that portion of property taxes on said real property for said fiscal year which have
<br />been paid prior to the date the deed conveying said real property to Buyer is recorded which is
<br />
<br />2
<br />
|