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INSURP,~ORK MAY PROICEED N-2008-157 <br />' CLERK Of COUNCII. <br />DATE: la-~t c8 PURCHASE AND SALE AGREEMENT <br />D ~. F'f.~ f1 (a-~ AND BILATERAL ESCROW INSTRUCTIONS <br />C i r~~~l C o~,ez FOR ACQUISITION OF REAL PROPERTY <br />THIS AGREEMENT (hereinafter "PSA"), entered into on 1~2cemhev ~, 2008, <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 />Ricardo and Maria G. Chavez (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 of this PSA, Seller <br />agrees to sell to City, and City agrees to purchase from Seller, a portion of that certain real <br />property ("Said Real Property") legally described and depicted as follows: <br />SEE EXHIBIT "A" -Legal Description <br />And EXHIBIT "B" -Graphical Depiction <br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF <br />(Commonly known as portion of1238 W Pine Street, Santa Ana, CA) <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 within thirty (30) days from and after the date on which the City has approved this PSA. <br />2. Title to be Conveyed. The Seller's interest Real Property will be conveyed by Seller to <br />City by Seller by Grant Deed as set forth in EXHIBIT "C" to this PSA. <br />3. Property Taxes. Real property taxes, if any, on Said Real Property for the fiscal year <br />within which Said Real Property is conveyed to City as are unpaid at the time of said <br />conveyance shall be cleared and paid in accordance with the provisions of Section 4986 and <br />5081 of the Revenue and Taxation Code of the State of California. All unpaid taxes on Said <br />Real Property for any and all years prior to the fiscal year within which said conveyance is made <br />shall be paid by Seller before conveyance of Said Real Property to City. <br />6. Payment of Purchase Price. City agrees to pay to Seller, and Seller agrees to accept <br />from City, as and for the full purchase price for Said Real Property, including payment for <br />fixtures & equipment, improvements pertaining to the realty, goodwill (if any), severance damages <br />(if any), access rights during construction, and any and all other interest for which compensation <br />could be owed, the total sum of EIGHT THOUSAND DOLLARS AND NO/100 DOLLARS <br />($8,000). <br />7. Deadline of Payment of Purchase Price. City agrees to pay the purchase price of <br />EIGHT THOUSAND DOLLARS AND N0/100 DOLLARS ($8,000) to Seller within THIRTY (30) <br />days from receipt of fully executed Grant Deed and confirmation that Seller has marketable title <br />to Said Real Property. <br />8. Recordation of Grant Deed. Buyer shall not record the Grant Deed until City has paid <br />Seller the full Purchase Price for Said Real Property. <br />Page I of 10 ~ ~.~~ <br />Seller's Initials <br />