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date on which the City has approved this Agreement, and the Escrow Agent is hereby authorized to pay <br />said purchase price to Seller only after or concurrent with the satisfaction of the followin c d't~ <br />precedent: <br />g on i ions <br />(a) Conveyance of Said Real Property by Seller to City as hereinabove provided; <br />(b) Acceptance by City of a Grant Deed conveying Said Real Property to City; <br />(c) Delivery to City of the policy of title insurance as hereinabove provided; <br />(d) Recordation of the Grant Deed conveying Said Real Property to City. <br />7. Possession. Seller agrees to deliver to City, on the date the Grant Deed conveying Said Real <br />Property to City is recorded, quiet and peaceful possession of Said Real Property which shall be made <br />free by Seller of all property. <br />8. Waivers. The waiver by City of any breach of any covenant or agreement herein contained on <br />the part of Seller shall not be deemed or held to be a waiver of any subsequent or other breach of said <br />covenant or agreement nor a waiver of any breach of any other covenants or agreements contained <br />herein. <br />9. Heirs, Assigns, Successors-in-Interest. This Agreement, and all the terms, covenants and <br />conditions herein, shall apply to and bind the heirs, executors, administrators, successors and assigns of <br />the respective parties hereto. <br />10. Time is of the Essence. In all matters and things hereunder to be done and in all payments <br />hereunder to be made, time is and shall be of the essence. <br />11. Permission to Enter on Premises. Seller hereby grants City, and its authorized agents, <br />permission to enter upon Said Real Property at all reasonable times prior to close of escrow for the <br />purpose of making necessary inspections. <br />12. Just Compensation. Seller acknowledges and agrees that said purchase price is just <br />compensation at fair market value for Said Real Property and includes payment for fixtures & equipment, <br />improvements pertaining to the realty, severance damages, bonus value (if applicable), for the easements <br />herein described, and for any and all other damages which Seller might now or in the future be entitled to. <br />13. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, P.O. Box <br />1988, in the city of Santa Ana 92702, County of Orange, State of California. The mailing address of the <br />Seller is: <br />Richard C. Murray <br />Senior Vice President <br />U.S. Trust, Bunk of America Private Wealth Management <br />515 South Flower Street <br />Suite 2700 <br />Los Angeles, CA 90071 <br />Phone: (213) 8G 1-50G5 <br />Fax: (800) 97G-1298 <br />Emuil: richard.murray@ustrust.com <br />14. Exceptions. City agrees to accept title to Said Real Property subject to the following: <br />NONE <br />Page 3 of 12 <br />Seller's Initials ~~~ <br />