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A-2007-276
<br />PURCHASE AND SALE AGREEMENT FOR ACQUISITIONOF REAL PROPERTY
<br />AND BILATERAL ESCROW INSTRUCTIONS
<br />(Partial Acquisition of Commercial Property)
<br />THIS AGREEMENT (hereinafter "PSA"), entered into on C~Xahe~7~.,Go, ~S~' , 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 "Buyer"), and
<br />Aurora Angel (hereinafter "Seller"), regardless of number or gender;
<br />THEREFORE, for and in consideration of their promises, covenants and agreements
<br />hereinafter set forth, and subject to the terms, conditions and provisions hereinafter set forth,
<br />Seller agrees to sell to City, and City agrees to purchase from Seller, a portion of that certain
<br />real property located in the State of California, County of Orange, City of Santa Ana, described
<br />as follows: (hereinafter "Said Real Property") described as follows:
<br />SEE EXHIBIT "A" ATTACHED HERETO ~~
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 1011 & 1007 South Bristol Street, Santa Ana, California 92702)
<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 />1. Conveyance by 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'h Floor, Irvine,
<br />within thirty (30) days from and after the date on which the City has approved this Agreement.
<br />2. Title to be Convened. (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 14 below. Seller hereby warrants that the title #o 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 />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 />mentioned title company, with the City therein named as the insured, in the amount of NINE
<br />HUNDRED THIRTY SEVEN THOUSAND AND NO/100 Dollars ($937,000.00) insuring City's
<br />title to Said Real Property is free and clear of any and all conditions, restrictions, reservations,
<br />exceptions, easements, assessments, profits, limitations, encumbrances (whether monetary or
<br />non-monetary, general or specific, and including any and all leasehold interests), liens, clouds
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<br />Seller's Initials
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