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<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, fixtures & equipment <br />(improvements pertaining to the realty), goodwill (if any), and severance damages, the total sum of <br />FOUR MilLION TWO HUNDRED FIFTY-SEVEN THOUSAND EIGHT HUNDRED EIGHTY AND <br />NO/100 Dollars ($4,257,880). City agrees to deposit said purchase price in escrow with the <br />Escrow Agent within THIRTY (30) days from and after the date on which the City has approved <br />this Agreement, and the Escrow Agent is hereby authorized to pay the same to Seller upon and <br />after: <br /> <br />(a) Conveyance of said real property by Seller to City as hereinabove provided; <br /> <br />(b) Acceptance by City of a Grant Deed conveying said real property to City; <br /> <br />(c) Delivery to City of the policy of title insurance as hereinabove provided; <br /> <br />(d) Recordation of the Deed conveying said real property to City. <br /> <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying said real <br />property to City is recorded, quiet and peaceful possession of said real property, which shall be <br />made free by Seller of all personal property. <br /> <br />8. Relocation. In addition to the compensation outlined in this Agreement, the City (at the <br />closing of this Agreement) will pay to Seller the sum of $60,000 to defray the costs of Seller in <br />relocating their existing signs, outside the area identified in the Attachment 1 of this Agreement. <br /> <br />9. Waivers. The waiver by City of any breach of any covenant or agreement herein <br />contained on the part of Seller shall not be deemed or held to be a waiver of any subsequent or <br />other breach of said covenant or agreement nor a waiver of any breach of any other covenants or <br />agreements contained herein. <br /> <br />10. Heirs. Assians. Successors in Interest. This Agreement, and all the terms, covenants <br />and conditions hereof, shall apply to and bind the heirs, executors, administrators, successors and <br />assigns of the respective parties hereto. <br /> <br />11. Time is of the Essence. In all matters and things hereunder to be done and in all <br />payments hereunder to be made, time is and shall be of the essence. <br /> <br />12. Permission to Enter on Premises. Subject to the rights of Seller's tenant,=Seller hereby <br />grants City, and its authorized agents, permission to enter upon said real property at all <br />reasonable times prior to close of escrow for the purpose of making necessary inspections. <br /> <br />13. Just Comoensation. 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 & <br />equipment (improvements pertaining to the realty), goodwill (if any), and severance damages <br /> <br />14. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, <br />P.O. Box 1988, in the City of Santa Ana 92702, County of Orange, State of California. The <br />mailing address of the Seller is: <br /> <br />Grubb & Ellis <br />Attn: Gary Allen <br />4675 MacArthur Court, Suite 1600 <br /> <br />Page 3 of18 <br />