04 - Acquisition 301 S Sycamore-300 S Main

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PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY AND BILATERAL ESCROW INSTRUCTIONS THIS AGREEMENT, entered into this ~ day of , 2011, by and between the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a California Redevelopment Agency and a public body corporate and politic, hereinafter referred to as the "Agency" or "Buyer"); SILAS B. CHANEY, HUSBAND, AND MARIE E. CHANEY, WIFE, AS TRUSTORS OF THE SILAS AND MARIE CHANEY REVOCABLE LIVING TRUST (as to Parcel A-1); and MARIE ELIZABETH CHANEY, TRUSTEE OF TRUST A OF THE SILAS AND MARIE CHANEY REVOCABLE LIVING TRUST DATED SEPTEMBER 23, 1976 AS TO AN UNDIVIDED 40% INTEREST IN AND TO THE WHOLE OF; AND MARIE ELIZABETH CHANEY, TRUSTEE OF TRUST B OF THE SILAS AND MARIE CHANEY REVOCABLE LIVING TRUST DATED SEPTEMBER 23, 1976 AS TO AN UNDNIDED 60% INTEREST (as to Parcel A-2), (hereinafter collectively called "Seller"), regardless of number or gender; WITNESSETH For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the terms, conditions and provisions hereinafter set forth, Seller agrees to sell to Agency, and Agency agrees to purchase from Seller, all that certain real property (hereinafter referred to as "said real property") described as follows: All that certain real property located in the State of California, County of Orange, City of Santa Ana, described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF (Commonly known as 300 South Main Street (Parcel A-1) and 301 South Sycamore Street (Parcel A-2), Santa Ana, CA) SEE EXHIBIT "B" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF Said purchase and sale of said real property shall be in accordance with and subject to all of the following terms, conditions, promises, covenants, agreements and provisions, to wit: 1. Convevance by Seller. Seller agrees to convey said real property to Agency, by Grant Deed, at the office of First American Title Insurance Company, located at Santa Ana, California, within thirty (30) days from and after the date on which the Agency has approved this Agreement. 2. Title to be Conveyed. Sallar agrees that, except as may hereinafter be otherwise expressly provided, said real property shall be conveyed by Seller to Agency, as aforesaid, free and cleat• of any and all conditions, restrictions, reservations, exceptions, easements, EXHIBIT 2 4-5