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PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY <br />AND BILATERAL ESCROW INSTRUCTIONS <br />THIS AGREEMENT (hereinafter "PSA"), entered into on _ _ <br />2 010 , between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized <br />under the Constitution and laws of the State of California (hereinafter "City" or "Buyer"), and MULLER- <br />MCFADDEN LLC, a California limited liability company, and MULLER-MCFADDEN 2 LLC, a <br />California limited liability company (formerly known as Muller-Rock 1 LLC, which acquired title as <br />Muller-Rock-1 LLC, a California limited liability company), as tenants in common (hereinafter "Seller"), <br />regardless of number or gender; <br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and <br />subject to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City <br />agrees to purchase from Seller, a portion of that certain real property (hereinafter "Said Real <br />Property") legally described and depicted as follows: <br />SEE EXHIBIT "A" - Legal Description <br />and EXHIBIT "B"- Graphical Depiction <br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF <br />(Commonly known as a portion of 1766 E. McFadden Avenue and 1261 S, Lyon Street, Santa Ana, CA) <br />Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the <br />following terms, conditions, promises, covenants, agreements and provisions, to wit: <br />Closing Date. "Closing Date" means January 15, 2010. <br />2. Title to be Conveyed, (a) The Seller's interest to the Real Property will be conveyed to City <br />by Seller by Grant Deed as set forth in this PSA. <br />(b) Seller agrees to convey to City a Temporary Construction Easement Deed (hereinafter "TCE") as <br />described in the attached Exhibit "A-1" and depicted on the attached Exhibit "B." The TCE is also <br />described in greater detail in the TCE attached hereto and by this reference made a part hereof <br />3. Property Taxes, Real property taxes, if any, on Said Real Property for the fiscal year within <br />which Said Real Property Is conveyed to City as are unpaid at the time of said conveyance shall be <br />cleared and paid in accordance with the provisions of Section 4986 and 5081 of the Revenue and <br />Taxation Code of the State of California. All unpaid taxes on Said Real Property for any and all years <br />prior to the fiscal year within which said conveyance is made shall be paid by Seller before <br />conveyance of Said Real Property to City. <br />4 Payment of Purchase Price. City agrees to pay to Seller, and Seller agrees to accept from <br />City, as and for the full purchase price for Said Real Property, fixtures & equipment, improvements <br />pertaining to the realty, goodwill (if any), severance damages (if any), and a TCE, the total sum of <br />Thirty Thousand and No/100 Dollars ($30,000,00). <br />5. Deadline for Payment of Purchase Price. City agrees to pay the purchase price of Thirty <br />Thousand and No/100 Dollars ($30,000.00) to Selier on or prior to the Closing Date.. <br />6. Recordation of Grant Deed. Buyer shall execute and deliver Grant Deed to Seller on or prior <br />to the Closing date, <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying Said Real <br />Property to City is recorded, quiet and peaceful possession of Said Real Property. <br />25K-16