Laserfiche WebLink
A-2016-082 <br />PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY <br />AND BILATERAL ESCROW INSTRUCTIONS <br />THIS AGREEMENT (hereinafter "PSA"), entered into on — — AfiA� --------- <br />2 0 16, between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under <br />the Constitution and laws of the State of California (hereinafter "City" or °BuyeC), and Tina Marie Estrada, a <br />married woman, as her sole and separate property (hereinafter "Seller"), regardless of number or gender; <br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject <br />to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees to <br />purchase from Seller, that certain real property (hereinafter "Said Real Property") legally described as <br />follows: <br />SEE EXHIBIT "A" — Legal Description <br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF <br />(Commonly known as APN: 405-262-27) <br />Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the following <br />terms, conditions, promises, covenants, agreements and provisions, to wit: <br />1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at the <br />office of Commonwealth Land Title Company, 4100 Newport Place Drive, Suite 120, Newport Beach, <br />California, within sixty (60) days from and after the date on which the City has approved this Agreement. <br />2. Title to be Conveyed. Seller agrees that, except as may hereinafter be otherwise expressly <br />provided, said real property shall be conveyed by Seller to City, as aforesaid, free and clear of any and all <br />conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations, <br />encumbrances (whether monetary or non-monetary, general or specific, including any and all leasehold <br />interests), liens, clouds or defects in title except those exceptions shown in Paragraph 15 below. Seller <br />hereby warrants that the title to said real property to be conveyed by Seller to City shall be free and clear as <br />provided above. Seller further agrees that acceptance by City of any deed to said real property, with or <br />without knowledge of any condition, restriction, reservation, exception, easement, assessment, profit, <br />limitation, encumbrance (whether monetary or non-monetary, general or specific, and including any and all <br />leasehold interests), lien, cloud or defect in title, shall not constitute a waiver by City of its right to the full and <br />clear title hereinabove agreed to be conveyed by Seller to City, nor of any right which might accrue to City <br />because of the failure of Seller to convey title as hereinabove provided, <br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said real <br />property to City, within the time and at the place hereinabove specified for said conveyance of said real <br />property, a policy of title insurance to be issued by the above mentioned title company, with the City therein <br />named as the insured, in the amount of Two Hundred Ninety Thousand and no/100 Dollars ($290,000.00) <br />insuring the title of the City to said real property is free and clear of any and all conditions, restrictions, <br />reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether monetary or <br />non-monetary, general or specific, and including any and all leasehold interests), liens, clouds or defects in <br />title, excepting such specific ones as city may hereinafter expressly agree to take subject to. Acceptance by <br />City of any such policy of insurance, whether such insurance complies with the requirements of this <br />paragraph or not, shall not constitute a waiver by City of its right to such insurance as is herein required of <br />Seller, nor a waiver by the City of any rights of action for damages or any other rights which may accrue to <br />City by reason of the failure of Seller to convey title or to provide title insurance as required in this <br />Agreement. <br />