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A-2010-173 <br />I'4SURANCE N,,7T : )UIREu <br />WORK MAY P40CEED ACQUISITION SETTLEMENT AGREEMENT <br />CLERK 0 :C)UNi;It_ --in <br />J? 2 r This A quisition Settlement Agreement (" ASA") is entered into ons e ?060 2010 <br />betwee 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"), and Evans Roofing <br />Compa y, Inc. ("Tenant"). City and Tenant may collectively be referred to in this ASA as the <br />"Parties." <br />RECITALS <br />`a?Cll <br />C; <br />4 <br />U <br />A. <br />B. <br />C <br />D <br />E. <br />subject <br />1 <br />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 />1101 E. Chestnut, Sana Ana, (hereinafter called "Property"). <br />Mark and Cindy Evans ("Landlord") are the property owners of 1101 E. Chestnut, <br />Santa Ana, California ("Property"). Owner and City have negotiated a Purchase and <br />Sale Agreement ("PSA") for the Property, which will result in the termination of Owner's <br />and Tenant's rights, title and/or interests in the acquired Property. <br />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 />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 />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 />e, in consideration of the promises, covenants and agreements hereinafter set forth, and <br />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 will pay to Tenant in 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 I of 8