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A-2011-174
<br />AGREEMENT FOR ACQUISITION OF
<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 />WITNESSETH
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the
<br />V terms, conditions and provisions hereinafter set forth, City agrees to sell to Agency, and Agency agrees to
<br />purchase from City, all that certain real property (hereinafter referred to as "said real property") described as
<br />° follows:
<br />N
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
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<br />(Commonly known as 415 and 423 S. Raitt Street, 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 City. City agrees to convey said real property to Agency, by Grant Deed, at the office of
<br />First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty (30) days
<br />from and after the date on which the Agency has approved this Agreement.
<br />2. Title to be Conveyed. City agrees that, except as may hereinafter be otherwise expressly provided, said
<br />real property shall be conveyed by City to Agency, 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. City hereby warrants that the
<br />title to said real property to be conveyed by City to Agency shall be free and clear as above provided. City
<br />further agrees that acceptance by Agency of any deed to said real property, with or without knowledge of any
<br />condition, restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance, lien, lease,
<br />cloud or defect in title, shall not constitute a waiver by Agency of its right to the full and clear title hereinabove
<br />agreed to be conveyed by City to Agency, nor of any right which might accrue to Agency because of the failure
<br />of City to convey title as hereinabove provided.
<br />3. Reserved.
<br />4. Escrow. Agency agrees to open an escrow at the office of First American Title Insurance Company, 2
<br />First American Way, Santa Ana, California, (the Escrow Agent) within five (5) days from and after the date on
<br />which the Agency has approved this Agreement. This Agreement constitutes the joint escrow instructions of the
<br />Agency and the City and a duplicate original of this Agreement shall be delivered to the Escrow Agent upon the
<br />opening of the escrow.
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