BRISTOL LIQUOR AND MARKET-2008 - Laserfiche WebLink

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INSURANCE NOT REQUIRED WORK MAY PROCEED CLERK OF COUNCIL A-2008-167 DATE: Cc ~ ~G' ~ ACQUISITION SETTLEMENT AGREEMENT o : Ewa ~E S~ ~~ca~ C~nd~ G~,,,~~Th1S Acquisition Settlement Agreement ("ASA") is entered into on ~,A,~,p _ 5 , 2008 between the City of Santa Ana, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California ("City" or "Licensor"), and Parks Family Liquor Inc., A California corporation dba Bristol Liquor & Market ("Tenant or "Licensee"). City and Tenant may collectively be referred to in this ASA as the "Parties". RECITALS A. City is the fee owner of 323 South Bristol Street, Santa Ana, California ("Property"). B. Tenant operates a business on the Property commonly known as Bristol Liquor & Market, and is the occupant of the real property and improvements located on the Property, more specifically described and depicted in Exhibit "A", Legal Description, attached hereto. C. City and Tenant desire to enter into aNon-Exclusive License Agreement ("License") for Tenant's occupation of the Property, a copy of which is attached hereto as Exhibit "B". D. The Property is located within the area of the Bristol Street Corridor Street Widening Project from Pine Street to McFadden Avenue ("Project") and City previously acquired the Property for a public use. E. The Parties' rights and obligations with regard to Tenant's entitlement to relocation and other displacement benefits are in dispute. The Parties desire to define their respective rights and obligations upon the terms and conditions as hereinafter set forth, and to resolve any and all disputes with regard to any and all of the compensation and/or other entitlements to which Tenant is now or in the future entitled as a result of the acquisition of the Property by City. THEREFORE, in consideration of the promises, covenants and agreements hereinafter set forth, and subject to the terms, conditions and provisions of this ASA, the Parties agree as follows: 1. Consideration A. City shall pay Tenant in accordance with the disbursement schedule referenced in Section 1(B) and 1(C), below, the total sum of FIVE HUNDRED SIXTY FIVE THOUSAND AND NO/100 DOLLARS ($565,000.00) as full compensation for relocation assistance and any and all related past, present or future costs, expenses, payments, claims or benefits to which Tenant is or may be entitled as a result of City's acquisition of the Property for the Project, including any and all loss of business goodwill, leasehold interests, security deposit(s), personal property, improvements pertaining to realty, bonus value, and/or severance damages. Acquisition Settlement Agreement lofl3 Tenant's Initials