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A-2012-091 <br />{,?,,?rr'of? ACQUISITION SETTLEMENT AGREEMENT <br />?.r 4 2012 <br />This Acquisition Settlement Agreement ("ASA") is entered into on? `yam' 2012 <br />between the City of Santa Ana, a charter city and municipal corporation du organized and <br />existing under the Constitution and laws of the State of California ("City"), and Evans Roofing <br />Company, Inc. ("Tenant"). City and Tenant may collectively be referred to in this ASA as the <br />"Parties." <br />RECITALS <br />A. Tenant operates a business on the Property commonly known as Evans Roofing, and <br />was the occupant of the real property and improvements located at 1101 E. Chestnut, Santa <br />Ana, California ("Property") until August 27, 2010. <br />B. Mark and Cindy Evans ("Landlord") were the fee owners of the Property. Landlord <br />and City negotiated a Purchase and Sale Agreement ("PSA") for the Property, which <br />resulted in the termination of Landlord's and Tenant's rights, title and/or interest in <br />the Property. <br />C. The Property is located within the Orange County Transportation Authority's Rail <br />Safety Enhancement Project Area and City acquired the Property for a public use. <br />D. The Parties' rights and obligations with regard to the acquisition of the Property by City <br />are in dispute. The Parties desire to establish their respective rights and obligations <br />and to resolve any and all existing disputes with regard to the acquisition of the <br />Property by City upon the terms and conditions as hereinafter set forth. <br />E. Tenant qualifies as a displaced person under California Code of Regulations, Title 25, <br />Division 1, Chapter 6, and is therefore eligible for loss of business goodwill and <br />relocation benefits as described therein. Tenant acknowledges that they have been <br />informed of the City's relocation program and has received written material <br />describing these rights. <br />Therefore, in consideration of the promises, covenants and agreements hereinafter set forth, and <br />subject to the terms, conditions and provisions of this ASA, the Parties agree as follows: <br />1. Consideration <br />a. City agrees to pay to Tenant the total sum TWO HUNDRED EIGHTY FIVE <br />THOUSAND AND N01100 DOLLARS ($285,000.00), as compensation for <br />loss of business goodwill, leasehold interests, personal property, <br />improvements pertaining to realty, bonus value, and any and all other damages <br />to which Tenant may be entitled as a result of City's acquisition of the Property <br />for the Project. <br />b. City will make payment to Tenant in the amount of TWO HUNDRED EIGHTY <br />FIVE THOUSAND AND NO/100 DOLLARS ($285,000.00) immediately upon <br />City Council approval. <br />Acquisition Settlement Agreement <br />Pagel of 5