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A-2012-203 <br />SELL ALL (NO SALVAGE) <br />Project: Grand Avenue Widening Project <br />APN: 398-453-05 & 06 <br />Tenant-Seller: K & K Investments LP <br />AGREEMENT FOR ACQUISITION OF TENANT-SELLER'S <br />INTEREST IN REAL PROPERTY <br />?C,?T. <br />THIS AGREEMENT ("Agreement") is entered into as of this 1-_ day of <br />DC.TO S-r- VZ- , 2012, by and between THE CITY OF SANTA ANA, a charter city and <br />municipal corporation duly organized under the Constitution and laws of the State of California <br />("Buyer"), and K & K Investments LP ("Tenant-Seller") for the acquisition by Buyer of certain <br />interests in real property described herein. <br />IT IS HEREBY AGREED BETWEEN THE PARTIES AS FOLLOWS: <br />1. AGREEMENT. Tenant-Seller agrees to sell and convey to Buyer, and Buyer agrees <br />to purchase and acquire from Tenant-Seller, upon the terms and for the consideration set forth in <br />this Agreement, (a) all right, title and interest, in and to certain improvements, including fixtures <br />and equipment (collectively "Improvements") located in, on, or affixed in any manner to the <br />premises known and numbered as 218 N. Grand Avenue, Santa Ana, California ("Premises") which <br />Premises are part of that real property described in Attachment "1" attached hereto, located in the <br />City of Santa Ana, Orange County, California ("Property"), and (b) any tenancy interest of Tenant- <br />Seller ("Tenancy Interest") in and to the Premises and the Property. The Improvements to be <br />conveyed by Tenant-Seller are a part of the Premises, and specifically include, without limitation, <br />the items described in the list of Improvements Pertaining to the Realty attached hereto as <br />Attachment "2". <br />2. PURCHASE PRICE. The total purchase price, payable in cash through this <br />Agreement, shall be the sum of. Twenty Nine Thousand Eight Hundred Fifteen and no/100 <br />dollars ($29,815.00) ("Purchase Price") <br />3. CONVEYANCE OF INTEREST IN REAL PROPERTY. Tenant-Seller agrees to <br />execute a Quitclaim Deed in the same form as that attached hereto as Attachment "3" in favor of <br />Buyer ("Quitclaim Deed"), relinquishing, releasing, and forever quitclaiming to Buyer all right title <br />and interest in and to the Tenancy Interest. <br />4. Tenant-Seller will vacate the property on December 31, 2012. <br />5. CONVEYANCE OF INTEREST IN IMPROVEMENTS. The Quitclaim Deed will <br />also convey from Tenant-Seller to Buyer all of Tenant-Seller's interest in and to the Improvements, <br />which conveyance shall be free and clear of all recorded and unrecorded encumbrances, liens, <br />assessments, leases, and taxes. Unless otherwise provided, recording of the Quitclaim Deed and <br />Closing (as defined below) of the transaction described herein shall be subject to Tenant-Seller's <br />vacation of the Premises and proof of clear title to all said Improvements having been obtained and <br />received by Buyer in accordance with Paragraphs 8 and 9 of this Agreement. <br />A-1