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PURCHASE AND SALE AGREEMENT FOR ACQUISITIONOF REAL PROPERTY
<br /> AND BILATERAL ESCROW INSTRUCTIONS
<br /> (Commercial)
<br /> THIS AGREEMENT, entered into this _ day of , 2009, by and between the CITY OF
<br /> SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and
<br /> laws of the State of California (hereinafter referred to as the "City" or "Buyer"), DRSS-I, LLC, a
<br /> California Limited Liability Company (hereinafter called "Seller"), regardless of number or gender;
<br /> WITNESSETH
<br /> For and in consideration of their promises, covenants and agreements hereinafter set forth, and
<br /> subject to the terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City,
<br /> and City agrees to purchase from Seller, all that certain real property (hereinafter referred to as
<br /> "said real property") described as follows:
<br /> All that certain real property located in the State of California, County of Orange, City of Santa
<br /> Ana, described as follows:
<br /> SEE ATTACHMENT 1, ATTACHED HERETO
<br /> AND BY THIS REFERENCE MADE A PART HEREOF
<br /> (Commonly known as a portion 2040 East Dyer Road, Santa Ana, CA)
<br /> (APN 430-181-25)
<br /> Said purchase and sale of said real property shall be in accordance with and subject to all of the
<br /> 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 Deed,
<br /> at the office of First American Title Insurance Company, 2 First American Way, Santa Ana,
<br /> California, within thirty (30) days from and after the date on which the City has approved this
<br /> Agreement (but in no event later than December 31, 2009). Seller understands City will not
<br /> approve this Agreement until it has approved the preliminary title report referenced in Section 2
<br /> below.
<br /> 2. Title to be Conveyed. (a) Seller agrees that, except as may hereinafter be otherwise
<br /> expressly provided, said real property shall be conveyed by Seller to City, as aforesaid, free and
<br /> clear of any and all conditions, restrictions, reservations, exceptions, easements, assessments,
<br /> profits, limitations, encumbrances (whether monetary or non-monetary, general or specific,
<br /> including any and all leasehold interests), liens, clouds or defects in title except those exceptions
<br /> shown in the preliminary title report to be delivered to Buyer by Seller as soon ar reasonably
<br /> possible after execution of this Agreement (in no event shall title be conveyed subject to monetary
<br /> liens other than the liens of non-delinquent taxes and assessments). Seller hereby warrants that
<br /> the title to said real property to be conveyed by Seller to City shall be free and clear as provided
<br /> above.
<br /> (b) Seller does hereby convey to City a temporary landscape easement as described in
<br />
<br /> greater detail in Attachment 2, attached hereto and by this reference made a part hereof.
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