Laserfiche WebLink
PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY <br />AND BILATERAL ESCROW INSTRUCTIONS <br />(Commercial) <br />THIS AGREEMENT, entered into this _ day of , 2010, by and between the CITY <br />OF SANTA ANA, a charter city and municipal corporation duly organized under the <br />Constitution and laws of the State of California (hereinafter referred to as "City "), and <br />WINCHELL'S DONUT HOUSES OPERATING COMPANY, L. P. (hereinafter called "Seller "), <br />regardless of number or 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, Seller 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 />All that certain real property located in the State of California, County of Orange, City of Santa <br />Ana, described as follows: <br />SEE EXHIBIT "A" ATTACHED HERETO <br />AND BY THIS REFERENCE MADE A PART HEREOF <br />(Commonly known as 624 N. Bristol Street, Santa Ana, CA) <br />Seller and City acknowledge and agree that the sale of said real property from Seller to City is in <br />lieu of condemnation. Said purchase and sale of said real property shall be in accordance with <br />and subject to all of the following terms, conditions, promises, covenants, agreements and <br />provisions, to wit: <br />1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant <br />Deed, at the office of First American Title Insurance Company, 2 First American Way, Santa <br />Ana, California, within thirty (30) days from and after the date on which the City has approved <br />this Agreement. <br />2. Intentionally O"tted. <br />3. Title Insurance. It shall be a condition to the obligation of City to purchase said real <br />property that Seller deliver to City, concurrently with the conveyance of said real property to <br />City, within the time and at the place hereinabove specified for said conveyance of said real <br />property. Seller agrees to delivery to City a policy of title insurance to be issued by the above <br />mentioned title company, with City therein named as the insured, in the amount of NINE <br />Revised.9.13.2010wkj - I - <br />25K -5 <br />