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<br />AUG 2 7 200'8
<br />PURGNASE AND 9At1 At3REEMENT AND BILATIrRAL ESCROW t<+tf3YRUC'17ON13
<br />FC}R ACQUiSfTiON Ot~ REAL PROi~RTY
<br />tRaatderrtia>}
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<br />THIS AQREEMENT (hereinafter "PSA"), anEared into on ~ r~ ~' 200@,
<br />between the CRY QF 8AN7A ANA, a charter city and mun' ' corporation duty
<br />drgsrtized under' the Constitution and laws ai the State of California (hereinafter "City' or
<br />°euyer"), and I~euteche Bank Na~onal Trust (hereinafter 'Salter°}, regardless d number
<br />or gender;
<br />TM1wt~EFORLr, ftx and iri consideration of their mutual promises, cavensms and
<br />agreements, and eubjec~t to the terms, ocnditions and previsions of this AA~teemerrt, Seller
<br />a0rses t+o sell m City, and City a9~ LC purehasa from Salter, alt that oertaln rest properly
<br />(hereinaftar'Said Rest Property deapibee as fonawa:
<br />AI! ritiat Certain real properly located in the State of Caribmla, County a! Qrartge, City of
<br />seriDa Ans, described as ralowe`
<br />SEE EXHIBIT "A" ATfACMED HERETO AND DY THI5 REFERENCE tiAAQE A PART
<br />HERECyF
<br />(CommaMy known as 1239 W. Raymar, Santa Ana, CA}
<br />Said purchase and sale of Said Real Pt~opetty shall be In accandance with and subject t4
<br />all of ti'~e following #errl'iS, COnditlart8, prorntses, covenants, agreements ~rnd ¢rovia'wns,
<br />to wft:
<br />1, cortr~~~a~.. Seller agrees ~ y said Real Property to c'~y,
<br />t~r>!-nt Qesd, at the orifice d Leader Escrow, 2248 N State CoAege 1311rd, i=uliarton~,
<br />Calltomla, within thirty (30} day9 from and after the date on which the Ctty has approved
<br />this PSA.
<br />2. Tctlg tab Conue~Selter agrees that, except as may hereinafter be
<br />eocpressly providod, Said Reat Properly shall be oonveysd by Seiler to City, as aforesaid,
<br />free and ctrar of any and al! oonditlons, restriotlone, reservations, exceptions, easements,
<br />as~ssmente, prafib, itmita~ons, encumbrances (inClud[ng any and all lasses), dens,
<br />clouds or defects in title, a~acapt those axcepttcns shown in Paragraph 15 below. Seger
<br />hereby warrants that the title to Said Real Properly shall be free and clear as provided
<br />above. Seiler further agrees that sc:eepterrce b3/ City of any dead to Said Reat
<br />Property, with or without knowledge of any aonditlan, restriction, reaenretian,
<br />exception, easement, assessment, profit, limitation, $nournbrance (Irwludlrtg any and
<br />all leases), lien, Loud or def act in title, shall na# Constitute a waiver by City of its right to
<br />the full and dear title hereinabou+a agreed to be conveyed by Seller to City, nor of any tight
<br />which might accrue to City because of the failure of Seller to Canvey title as hereinabave
<br />provided.
<br />3. Tltle~,ltuw cs. Seiler agrees to deliver to Gtry, voncurrer~ty with the
<br />Conveyance of title t~ Said Real Property to City, within the time and at the piece
<br />hereinabove specified, a poOCy of tale insurance to be Issued by the aboue mentlaned
<br />title insurance company, with the City therein named r3e the Insured, in the amount of
<br />TWO HUNDRED THIRTY FIVE THOUSAND DOLLARS ($235,000} insuring that title to
<br />Said Real PrcRerty is free end dear of any and ail conditions, restfictiorls, reSerVations,
<br />exceptions, easements, aesessmonte, profits, limitatlo encumbrances
<br />Page 1 of 8 ~ Seller`s Irtitlals _,,,_+
<br />~ .d ZZr= IZ 8a0~ S ~ S£9S-Lp9-G'TL ~ ~.~ '1~ QZ!£ 9N3 - d S ~t.1I~
<br />A-2008-245
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