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PURCHASE AND SALE AGREEMENT <br />Property Address: Custer Street right of way north of Washington Avenue, <br />Santa Ana, California <br />THIS PURCHASE AND SALE AGREEMENT (the "Agreement ") dated, for <br />identification purposes only, as of 2014, is made and entered into by and <br />between the CITY OF SANTA ANA, a charter city and municipal corporation <br />( "Seller "), and NASER KIANFARD AND MARJAN HARIRI, TRUSTEES OF THE <br />2004 NASER I0ANFARD AND MARJAN HARIRI REVOCABLE TRUST <br />DATED JANUARY 20, 2005 ( "Buyer "), with reference to the following. <br />In consideration of the mutual covenants set forth herein, Buyer and Seller agree <br />as follows: <br />RECITALS <br />A. Seller owns that certain lot of land consisting of approximately 1,361. <br />square feet at the end of the cul -de -sac on Custer Street, north of Washington Avenue, , <br />Santa Ana, California and more specifically described in Exhibit "A" attached hereto and <br />incorporated herein by this reference (the "Property "); <br />B. The Property is adjacent to the Santa Ana Freeway (I -5) and is being <br />simultaneously vacated by the City Council of the City of Santa Ana along with the sale <br />of the same to Buyer. <br />C. The Property will be combined with two adjoining parcels owned by the <br />Buyer for a residential development. <br />D. Buyer and Seller have agreed to this Purchase and Sale Agreement so that <br />Seller may quit claim any title it may have in the Property to Buyer, <br />1. A reement to Sell and to Purchase. Subject to the terms and conditions <br />of this Agreement, Seller agrees to sell and Buyer agrees to purchase the Property. <br />2. Purchase Price. The "Purchase Price" for the Property is TWO <br />THOUSAND, FIVE HUNDRED DOLLARS ($2,500.00). <br />3. Quit Claim Deed. The transfer of the Property shall be by quit claim <br />deed conveyance from Seller to Buyer showing title vested in Buyer. <br />4. Transfer Costs. Buyer shall pay all recording fees and all fees and costs <br />for any new financing. Buyer shall pay the premium for the title insurance policy, should <br />it seek title insurance. <br />-I- <br />55DD -5 <br />