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A-2011-175
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<br />AGREEMENT FOR PURCHASE/SALE OF
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<br />REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />THIS AGREEMENT, entered into this 21st day of June 2011, by and between the COMMUNITY
<br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a public body, corporate and politic,
<br />. (hereinafter referred to as the "Agency") and the CITY OF SANTA ANA, a charter city and municipal
<br />corporation duly organized under the Constitution and laws of the State of California (hereinafter referred to as
<br />the "City").
<br />a WITNESSETH
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the
<br />terms, conditions and provisions hereinafter set forth, Agency agrees to sell to City, and City agrees to purchase
<br />from Agency, all that certain real property located in the State of California, County of Orange, City of Santa
<br />Ana (hereinafter referred to as "said real property") described as follows:
<br />U SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 335 E. McFadden Avenue, Santa Ana, CA)
<br />Said sale and purchase of said real property shall be in accordance with and subject to all of the following terms,
<br />conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by Agency. Agency agrees to convey said real property to City, by Grant Deed, at the office
<br />of First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty (30)
<br />days from and after the date on which the City has approved this Agreement.
<br />2. Title to be Conveyed. Agency agrees that, except as may hereinafter be otherwise expressly provided,
<br />said real property shall be conveyed by Agency to City, as aforesaid, free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances, liens, leases,
<br />clouds or defects in title except those exceptions shown in Paragraph 14 below. Agency hereby warrants that
<br />the title to said real property to be conveyed by Agency to City shall be free and clear as above provided.
<br />Agency further agrees that acceptance by City of any deed to said real property, with or without knowledge of
<br />any condition, restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance, lien,
<br />lease, cloud or defect in title, shall not constitute a waiver by City of its right to the full and clear title
<br />hereinabove agreed to be conveyed by Agency to City, nor of any right which might accrue to City because of
<br />the failure of Agency to convey title as hereinabove provided.
<br />3. Reserved.
<br />4. Escrow. City agrees to open an escrow at the office of First American Title Insurance Company, 2 First
<br />American Way, Santa Ana, California, (the Escrow Agent) within five (5) days from and after the date on which
<br />the City has approved this Agreement. This Agreement constitutes the joint escrow instructions of the City and
<br />the Agency and a duplicate original of this Agreement shall be delivered to the Escrow Agent upon the opening
<br />of the escrow.
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