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AGREEMENT FOR ACQUISITION OF
<br />REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />THIS AGREEMENT, entered into this ~%day of ©C~• , 2008, by and between the Community
<br />Redevelopment Agency of the City of Santa Ana, a public body, corporate and politic, (hereinafter referred to as
<br />the "Agency") and Orange County Community Housing Corporation, anon-profit, public benefit corporation,
<br />(hereinafter referred to as the "Developer").
<br />WITNESSETH
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the
<br />terms, conditions and provisions hereinafter set forth, Agency agrees to sell to Developer, and Developer agrees
<br />to purchase from Agency, all that certain real property (hereinafter referred to as "said real property") described
<br />as follows:
<br />All that certain real property located in the State of California, County of Orange, City of Santa Ana, described
<br />as follows:
<br />SEE EXHIBIT "A" ATT-ACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 1015 North Logan Street, Santa Ana, CA)
<br />Said sale and purchase of said real property shall be in accordance with and subject to all of the following terms,
<br />conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by A ency. Agency agrees to convey said real property to Developer, by Grant Deed, at the
<br />office of First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty
<br />(30) days from and after the date on which the City and Agency Board have approved this Agreement.
<br />2. Title to be Conveyed. Agency agrees that, except as may hereinafter be otherwise expressly provided,
<br />said real property shall be conveyed by Agency to Developer, as aforesaid, free and clear of any and all
<br />conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances,
<br />liens, leases, clouds or defects in title except those exceptions shown in Paragraph 14 below. Agency hereby
<br />warrants that the title to said real property to be conveyed by Agency to Developer shall be free and clear as
<br />above provided. Agency further agrees that acceptance by Developer of any deed to said real property, with or
<br />without knowledge of any condition, restriction, reservation, exception, easement, assessment, profit, limitation,
<br />encumbrance, lien, lease, cloud or defect in title, shall not constitute a waiver by Developer of its right to the full
<br />and clear title hereinabove agreed to be conveyed by Agency to Developer, nor of any right which might accrue
<br />to Developer because of the failure of Agency to convey title as hereinabove provided.
<br />3 .Purpose: In order to implement the Redevelopment Plan, the Agency has agreed, subject to the approval
<br />of the City Council, to sell certain real property located at 101 S N. Logan Street (the Property) pursuant to the
<br />terms and provisions of a Disposition and Development Agreement between the Agency and Orange County
<br />Community Housing Corporation, anon-profit, public benefit corporation. Orange County Community Housing
<br />Corporation proposes partnering with general contractor Hope Builders, a subsidiary of Taller San Jose and
<br />
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