WANG, T E H PONG AND HUI YING WANG-2013

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A-2013-088 SETTLEMENT AGREEMEiNT This Settlement Agreement is entered into as of Junel I 013, by and between the City of Santa Ana ("CITY'), on the one hand, and on the other hand TEH PONG WANG and HUI YING WANG, Trustees of the Wang Family Living Trust dated June 28, 1995; TEH PONG WANG, an Individual; HUI YING WANG, an Individual, CHUNG WEI WANG, also known as Charles Wang, Trustee of the Wang Retained Annuity Trust dated December 20, 2012, and CHUNG WEI WANG, also known as Charles Wang, an Individual (together, the "WANGS"). The CITY and the WANGS, are sometimes collectively referred to herein as the 'PARTIES." RECITALS A. On November 28, 2011, the CITY filed an eminent domain proceeding seeking to take, in fee, portions of real property located at 410 N. Bristol Street, Santa Ana, 92703, owned by the WANGS for the CITY's Bristol Street Widening project (the "ACTION"). B. The larger property consists of a single story retail center. The portion that the CITY is acquiring (the "PART TAKE") is that part of the property fronting on Bristol Street, and is described in the Order for Possession obtained in the ACTION on March 19, 2012, C. The PART TAKE is about 3,728 square feet. Besides the physical real estate taken, the CITY will compensate the owner for the "cost to cure" the remaining property. Unit A will be removed as a result of the PART TAKE, and the building will need to be restored to match the remaining facility. D. The PARTIES desire to settle and resolve all claims and disputes between them concerning the ACTION. E. Therefore, the PARTIES hereby incorporate the foregoing recitals into this Agreement and agree as follows: [Continued Next Page]