25D - 421 S BRISTOL ST - Laserfiche WebLink

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City agrees to deposit said purchase price in escrow with the Escrow Agent within Sixty (60) days from and after the date on which the City has approved this Agreement, and the Escrow Agent is hereby authorized to pay said purchase price to Seller only after or concurrent with the satisfaction of the following conditions precedent: (a) Conveyance of Said Real Property by Seller to City as hereinabove provided; (b) Acceptance by City of An Easement Deed conveying Said Real Property to City; (c) Delivery to City of the policy of title insurance as hereinabove provided; (d) Recordation of the Easement Deed conveying Said Real Property to City. (e) City shall record the Easement Deed when purchase price is deposited with Escrow Agent. 7. Possession. Seller agrees to deliver to City, upon execution and/or recordation of the Easement Deed described and attached hereto EXHIBIT "D", quiet and peaceful possession of Said Real Property. 8. Intentionally Left Blank 9. Waivers. The waiver by City of any breach of any covenant or agreement herein contained on the part of Seller shall not be deemed or held to be a waiver of any subsequent or other breach of said covenant or agreement nor a waiver of any breach of any other covenants or agreements contained herein. 10. Heirs. Assigns, Successors in Interest. This Agreement, and all the terms, covenants and conditions hereof, shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective parties hereto. 11. Time is of the Essence. In all matters and things hereunder to be done and in all payments hereunder to be made, time is and shall be of the essence. 12. Permission to Enter on Premises. Seller hereby grants City, and its authorized agents, permission to enter upon Said Real Property at all reasonable times prior to close of escrow for the purpose of making necessary inspections. 13. Just Compensation. Seller acknowledges and agrees that said purchase price is just compensation at fair market value for Said Real Property and includes payment for fixtures & equipment (improvements pertaining to the realty), Bonus Value, if any, and severance damages. 14. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, P.O. Box 1988, in the city of Santa Ana 92702, County of Orange, State of California. The mailing address of the Seller is: Socorro Guerrola De Navarro Family Trust Attn: Leticia Navarro, Trustee 429 S. Bristol Street, Suite 2 Santa Ana, California 92703 Page 3 of 14 Seller's Initials 25D-19