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8. Rental and Occupancy By Seller. Seller agrees to execute a complete, current and correct
<br />statement of rentals (Seller Estoppel) on a form furnished to Seller by City and deliver same to City within
<br />fifteen (15) days hereof with copies of any written leases or rental agreements attached. All rents will be
<br />prorated as of the close of escrow on the basis of a 30 -day monthl360 -day year consistent with that
<br />statement, subject to approval of City. Seller hereby agrees not to rent any units on the premises which are
<br />vacant as of the date that this agreement is executed by seller, or which may be vacated by present
<br />occupants prior to close of escrow. In return, the City agrees to reimburse seller lost rentals incurred by
<br />keeping units vacant through the close of escrow. Seller agrees that any and all Tenant Security Deposits
<br />pertaining to the subject property collected by or in the possession of Seller prior to the close of escrow shall
<br />be transferred to and become the property of City during escrow.
<br />Seller hereby warrants that the rental statement referred to shall include the terms of all rental agreements,
<br />tenancies, and leases (written, unwritten, recorded, or unrecorded) and Seller agrees to hold City harmless
<br />from all liability from any such leases or agreements. Seller also warrants that there are no oral or written
<br />leases on all or any portion of the subject property exceeding a period of one month.
<br />9. Waivers. The waiver by City of any breach of any covenant or agreement herein contained on the
<br />part of the Seller shall not be deemed or held to be a waiver of any subsequent or other breach of said
<br />covenant or agreement nor a waiver of any breach of any other covenants or agreements contained herein.
<br />10. Heirs Assigns, Successors -in- Interest. This PSA, and all the terms, covenants and conditions
<br />hereof, shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective
<br />Parties hereto.
<br />11. Time is of the Essence. In all matters and things hereunder to be done and in all payments
<br />hereunder to be made, time is and shall be of the essence.
<br />12. Just Compensation. Seller acknowledges and agrees that said purchase price is just compensation
<br />at fair market value for said real property and includes payment for fixtures & equipment (improvements
<br />pertaining to the realty), goodwill (if any), and severance damages.
<br />13. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M -36, P.O. Box
<br />1988, in the City of Santa Ana 92701, County of Orange, State of California. The mailing address of the
<br />Seller is:
<br />Vincent R. and Jeanette Parnell
<br />16632 Redwood St.
<br />Fountain Valley, CA 92708
<br />14. Exceptions. City agrees to accept title to said real property subject to the following: NONE.
<br />15. Entire Agreement. It is mutually agreed that the Parties hereto have herein set forth the whole of
<br />their Agreement. Performance of this PSA by City shall lay at rest, each, every, and all issue(s) that were
<br />raised or could have been raised in connection with the acquisition of Said Real Property by City.
<br />16. Hazardous Waste, Neither Seller nor, to the best of Seller's knowledge, any previous owner, tenant,
<br />occupant, or user of the Property used, generated, released, discharged, stored, or disposed of any
<br />hazardous waste, toxic substances, or related materials ( "Hazardous Materials ") on, under, in, or about the
<br />Property, or transported any Hazardous Materials to or from the Property. Seller shall not cause or permit
<br />the presence, use, generation, release, discharge, storage, or disposal of any Hazardous Materials on,
<br />under, in, or about, or the transportation of any Hazardous Materials to or from, the Property. The term
<br />"Hazardous Material" shall mean any substance, material, or waste which is or becomes regulated by any
<br />local governmental authority, the State of California, or the United States Government, including, but not
<br />limited to, any material or substance which is (1) defined as a "hazardous waste ", "extremely hazardous
<br />waste ", or "restricted hazardous waste" under Section 25115, 25117 or 25122.7, or listed pursuant to Section
<br />25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law),
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