EUSEBIO SANTIAGO ANTONIO AND JUDITH SANTIAGOG CORPS 2-2015

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N-2015-022 FEB 9 2915 0, PWXC-) 9g� RENTAL AGREEMENT 0 (Loss of Rents) This AGREEMENT, made and entered into this 4/4 day of &L4 2015, by and between the property owner, EUSEBIO SANTIAGO ANTONIO AN JUDITH SANTIAGO, Husband and Wife as joint tenants (the "Owner"), and the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and laws of the State of California ("City"). WHEREAS, Owner and City are in negotiations for City's acquisition of certain real property of Owner located in the City of Santa Ana, which is legally described in Exhibit A, attached hereto and incorporated herein ("Property") WHEREAS, the Property consists of real property commonly known as 1725 & 1727 N. Bristol Street, Santa Ana, CA 92706 (APN No. 399-085-11). WHEREAS, the Property is currently used for residential purposes. WHEREAS, it is City's desire to minimize or avoid incurring costs, damages, obligations, or liabilities pursuant to any applicable federal, state, or local relocation laws or regulations, including without limitation, the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, 42 U.S.C. 4201-4655, the implementing regulations thereto set forth in 49 CFR Part 24, Government Code Section 7260, et seq. and/or the implementing regulations thereto set forth in Title 25, section 6000, et seq. of the Code of Regulations (collectively "Relocation Costs") due to City's possible acquisition of the Property, or any portion thereof, and Owner desires not to lose rental income due to the City's potential acquisition of the Property. WHEREAS, Owner and City agree to the accomplishment of this objective by allowing City to undertake lease obligations of those tenants that have or may vacate the Property before the City takes title to the Property or before the City takes possession of the Property; whichever is earlier. NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, City and Owner agree as follows: 1. The term of this Agreement ("Term") shall be for a period cornmencing on January 7, 2015 ("Commencement Date") and shall terminate automatically on the earlier of (a) the date City acquires legal title to the Property or ('h) the date City acquires legal possession to the Property by means of a court order of pre judgment possession in an eminent domain proceeding or (C) the date ninety days atter City notifies Owner in writing that it will not seek acquisition of the Property for purposes of the Bristol Street Widening Phase III -B project.