AKOUBIAN, RUPERT-2015 - Laserfiche WebLink

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INSURANCE ON FILL A -2015 -209 WORK MAY PROCCEIS UNTIL INSURANCE E XPIRES CLERK OF COUNCIL. DATE- ci _ 2.8 ` t AGREEMENT OF PURCHASE AND SALE q ASSESSOR PARCEL NUMBER: 398 - 491 -40 THIS AGREEMENT of Purchase and Sale ( "Agreement "), dated September 15, 2015, is entered into by and between the CITY OF SANTA ANA, a California charter city and municipal corporation ( "Seller') and Rupen Akoubian, an individual ( "Buyer ") for the acquisition by Buyer of certain real property described below. 5J RECITALS i A. Seller owns certain real property commonly known as Orange County Assessor Parcel (APN) No. 398 - 491 -40, located at 510 East Second Street, in the City of Santa Ana, County of Orange, State of California, adjacent to the Orange County Auto Parts business located at 515 East First Street, Santa Ana, and a parking lot located at 506 ° East Second Street, Santa Ana, both of which are owned by Buyer. Buyer desires to r3t purchase a fee interest in such real property owned by Seller as more particularly described V and depicted in Exhibit "A ", attached hereto and made part hereof ( "Property ") and Seller desire to sell the Property. B. The Seller owned portion of the Propertywas retained when the Property was originally deeded to private ownership in 1989. A copy of the Grant Deed forAPN No. 398 - 491 -40, filed with the County of Orange as Document No. R120378921, is attached hereto as Exhibit "B" and is incorporated herein by this reference. C. The Seller has reviewed its records and concluded that the Seller portion of the Property is not needed for public purposes. Seller has determined that the Property constitutes "exempt surplus land" as defined by Government Code section 54221 because the Property is smaller than the square footage size thresholds found in Government Code section 54221(e)(2), and not subject to such Government Code provisions per Government Code section 54222.3. E. The parties desire by this Agreement to provide the terms and conditions for the purchase and sale of the Property. AGREEMENT The parties therefore agree as follows: PURCHASE Buyer agrees to buy, and Seller agrees to sell and convey, the Property for the purchase price and upon the terms and conditions hereinafter set forth. 2. ESCROW Upon execution of this Agreement by all parties, the parties shall open an escrow ( "Escrow ") with FIRST AMERICAN TITLE ( "Escrow Holder') at its offices located at 4 First