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~n~4~~,' ,`'~' '~:=,~?1'IRFC, A-2010-001
<br />,`, ~ ~'> DEL
<br />Ci.ERK GF ~~ASE AND SALE AGREEMENT FOR ACQUISITIONOF REAL PROPERTY
<br />~ATi= (-2~-1b AND BILATERAL ESCROW INSTRUCTIONS
<br />~.T (Commercial)
<br />THIS AGREEMENT, entered into this 4th day of January, 2010, 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"), and Kinco Redhill,
<br />LLC, a California limited liability company (hereinafter called "Seller"), regardless of number or
<br />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, Seiler 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 />O'
<br />- ~ All that certain real property located in the State of California, County of Orange, City of Santa
<br />U 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 2850 Redhill Avenue, Santa Ana, CA)
<br />(APN 430-181-26)
<br />Said purchase and sale of said real property shall be in accordance with and subject to ail 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.
<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 Paragraph 15 below. Seller hereby warrants that the title to said real property to be
<br />conveyed by Seller to City shall be free and clear as provided above. Seller further agrees that
<br />acceptance by City of any deed to said real property, with or without knowledge of any condition,
<br />restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance (whether
<br />monetary or non-monetary, general or specific, and including any and all leasehold interests), lien,
<br />cloud or defect in title, shall not constitute a waiver by City of its right to the full and clear title
<br />hereinabove agreed to be conveyed by Seller to City, nor of any right which might accrue to City
<br />because of the failure of Seller to convey title as hereinabove provided.
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