MARTHA'S MARKET, INC. - 2008 - Laserfiche WebLink

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~~;}RatJ~;_. ',; - REC~~UIRED ''~~ CLERK OF COUNCIL ryi-~~ 1- zg-- t ~ M M ACQUISITION SETTLEMENT AGREEMENT A-2008-160 This Acquisition Settlement Agreement ("ASA") is entered into on , 2008 between the City of Santa Ana, a charter city and municipal corporati duly organized and existing under the Constitution and laws of the State of California ("City"), and Martha's Market, Inc., a California corporation ("Tenant" or "Displacee"), and Aurora Angel ("Owner" or "Landlord"). City, Tenant and Owner may collectively be referred to in this ASA as the "Parties." ~ RECITALS `~ , ~' ~ A. Landlord is the fee owner of 1007 to 1011 South Bristol Street, Santa Ana, California ' ` ~ ("Property"). Owner and City have negotiated a Purchase and Sale Agreement ("PSA") for ~ a portion of Owner's Property.("Acquired Property"), which will result in the termination of ~~ ~ Owner's and Tenant's rights, title and/or interests in the Acquired Property. The Acquired © ~ Property is described and depicted in Exhibit "A", attached hereto. _ B. Tenant operates a business on the Property commonly known as Martha's Market, Inc. and is the occupant of the real property and improvements located on the Property. C. The Property and the Acquired Property are located within the Bristol Street Widening Project ("Project"} from Pine Street to McFadden Avenue. D. The Parties' rights, obligations and monetary entitlements with regard to the acquisition of the Acquired Property by City are in dispute. The Parties desire to define their respective rights, obligations and monetary entitlements and to resolve any and all disputes pertaining to the acquisition of the Acquired Property by City upon the terms and conditions as contained in this ASA. E. Landlord plans to construct a replacement structure ("Replacement Structure") on the lot immediately east and adjacent to the Property. This lot is identified as APN 101-272-04, as more fully described and depicted in Exhibit "B" attached hereto. Construction of the Replacement Structure is expected to be completed on or about December 31, 2008. Tenant has been offered the opportunity to lease a unit within the Replacement Structure and Tenant desires to accept this offer. F. Tenant has been informed that it qualifies as a displaced person under California Code of Regulations, Title 25, Division 1, Chapter 6, and is therefore eligible for relocation benefits as described therein. Tenant has been informed of the City's relocation program and has received written material describing City's relocation program, including a General Information Notice, an Informational Brochure and a Notice of Eligibility. Tenant acknowledges and agrees that it is under no legal obligation to enter into this ASA, or to move into the Replacement Structure. Tenant acknowledges and agrees that it has the choice to relocate from the Property to an alternate site rather than to the Replacement Structure as herein proposed. Acquisition Settlement Agreement Page ] of 8 n ~, Tenant's Initials ~ ~-~ -- ' - Landlord's Initials '' r