75A - PH - RESO 1607 N BRISTOL - Laserfiche WebLink

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ATTACHMENT 3 SUMMARY STATEMENT ACCOMPANYING OFFER RELATING TO ACQUISITION PROCEDURES FOR PURCHASE OF REAL PROPERTY OR AN INTEREST THEREIN You are entitled to receive full payment prior to vacating the real property being purchased unless you have heretofore waived such entitlement. You are not required to pay recording fees, transfer taxes, or the pro rata portion of real property taxes which are allocable to any period subsequent to the passage of title or possession. 1. The holders of liens, deeds of trust or other security interests in your property and /or any leases or tenants of your property may be entitled to all or a portion of the consideration to be paid by the City of Santa Ana ( "City ") for your property in accordance with the particular contract(s) existing between you and the lien holder or lessee /tenant. 2. All buildings, structures, and other improvements affixed to the land described in the reference documents covering this transaction and owned by the grantor herein or, if applicable, owned by you as a tenant are not being conveyed unless other disposition of these improvements has been made. The interest acquired is fee title. 3. The amount determined to be just compensation was determined after consideration of an appraisal of the fair market value of the Parcel. The basis for the amount determined to be just compensation is summarized on the attached Appraisal Summary Statement (Statement of Just Compensation) and the amount of the Purchase Price: a. Is the full amount believed by the City to be just compensation for the property taken; b. Is not less than the approved appraisal of the fair market value of the property as improved; c. Disregards any decrease or increase in the fair market value of the public improvement for which the property is to be acquired for such public improvement, other than that due to physical deterioration within the reasonable control of the owner or occupant; and d. Reflects the definition of "fair market value" as defined in Eminent Domain Law (California Code of Civil Procedure Section 1263.320) which is "the highest price on the date of valuation that would be agreed to by a seller being willing to sell but under no particular or urgent necessity for doing so, nor obliged to sell, and a buyer, being ready, willing and able to buy but under no particular necessity for so doing, each dealing with the other will full knowledge of all the uses and purposes for which the property is reasonably adaptable and available." 75A -18