Laserfiche WebLink
ACQUISITION SETTLEMENT AGREEMENT LOA <br />This Acquisition Settlement Agreement ("ASA") is entered into on. AWE, 2010 <br />between the City of Santa Ana, a charter city and municipal corporation duly organized and <br />existing under the Constitution and laws of the State of California ("City"), <br />Evans ng <br />Company, Inc. ("Tenant"). City and Tenant may collectively be referred to indthis ASA assfthee <br />"Parties." <br />RECITALS <br />A. Tenant operates a business on the Property commonly known as Evans Roofing <br />Company, Inc., and is the occupant of the real property and improvements located at <br />1 101 E. Chestnut, Sana Ana, (hereinafter called "Property"). <br />B. Mark and Cindy Evans ("Landlord") are the fee owners of 1101 E. Chestnut, Santa <br />Ana, California ("Property"). Owner and City have negotiated a Purchase and Sale <br />Agreement ("PSA") for the Property, which will result in the termination of Owner's and <br />Tenant's rights, title and/or interests in the acquired Property. <br />C. The Property is located within the OCTA Rail Safety Enhancement Project Area and <br />City intends to acquire the Property for a public use. <br />D. The Parties' rights and obligations with regard to the acquisition of the Property by City <br />are in dispute. The Parties desire to establish their respective rights and obligations <br />and to resolve any and all existing disputes with regard to the acquisition of the <br />Property by City upon the terms and conditions as hereinafter set forth. <br />E. Tenant qualifies as a displaced person under California Code of Regulations, Title 25, <br />Division 1, Chapter 6, and is therefore eligible for loss of business goodwill and <br />relocation benefits as described therein. Tenant acknowledges that they have been <br />informed of the City's acquisition and relocation program and that they have received <br />written material describing these rights. <br />Therefore, in consideration of the promises, covenants and agreements hereinafter set forth, and <br />subject to the terms, conditions and provisions of this ASA, the Parties agree as follows: <br />Consideration <br />a. City agrees to pay Tenant, in accordance with the total sum of ONE HUNDRED <br />THIRTY-TWO THOUSAND, AND NO/100 DOLLARS ($132,000.00) as <br />compensation for loss of business goodwill, leasehold interests, personal <br />property, improvements pertaining to realty, bonus value, and any and all other <br />damages to which Tenants may be entitled as a result of City's acquisition of the <br />Property for the Project. <br />City to will payment Tenant the amount of ONE HUNDRED THIRTY-TWO <br />THOUSAND AND NO/100 DOLLARS ($132,000.00) once Tenant has (1) <br />vacated the Property, (2) executed and delivered to City a Certificate of <br />Acquisition Settlement Agreement <br />Page 1 ()1,8 <br />25K-5