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City agrees to deposit said purchase price with Escrow Agent within Thirty (30) days after the <br />date on which the City has approved this PSA, and Escrow Agent is hereby authorized to pay <br />said purchase price to Seller only after or concurrent with the satisfaction of the following <br />conditions precedent: <br />(a) Conveyance of Said Real Property by Seller to City as hereinabove provided; <br />(b) Acceptance by City of a Grant Deed conveying Said Real Property to City; <br />(c) Delivery to City of the policy of title insurance as hereinabove provided; <br />(d) Recordation of the Grant Deed conveying Said Real Property to City. <br />7. Possession. Seller agrees to deliver quiet and peaceful possession of Said Real <br />Property to City on the date the Grant Deed conveying title to Said Real Property is recorded <br />with the Office of the County Recorder for Orange County. <br />8. Blank. This secfion intentionally left blank. <br />9. Waivers. The waiver by City of any breach of any covenant or agreement herein <br />contained shall not be deemed or held to be a waiver of any subsequent or other breach of said <br />covenant or agreement nor a waiver of any breach of any other covenants or agreements <br />contained herein. <br />10. Heirs, Assigns, Successors in Interest. This PSA, and all the terms, covenants and <br />conditions contained herein, shall apply to and bind the heirs, executors, administrators, <br />successors and assigns of the respective Parties hereto. <br />11. Time is of the Essence. In all matters and things hereunder to be done and in all <br />payments hereunder to be made, time is and shall be of the essence. <br />12. Permission to Enter on Premises. Seller hereby grants City, and its authorized <br />agents, permission to enter upon Said Real Property at all reasonable times prior to close of <br />escrow for the purpose of making necessary inspections. <br />13. Just Compensation. Seller acknowledges and agrees that said purchase price is just <br />compensation at fair market value for Said Real Property, including fixtures & equipment <br />(improvements pertaining to the realty), goodwill (if any), severance damages (if any), and bonus <br />value (if any). <br />14. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, <br />P.O. Box 1988, Santa Ana, California 92702. The mailing address of the Seller is: <br />11693 South San Vicente <br />Los Angeles, California 90049-5105 <br />15. Exceptions. City agrees to accept title to Said Real Property subject to the following <br />NONE <br />16. Agreement. Performance of this PSA by City shall lay at rest, each, every, and all <br />issue(s) that were raised or could have been raised in connection with the acquisition of Said <br />Real Property by City. <br />Page 3 of 10 <br />Seller's Initials <br />25P-7 <br />