|
to the realty; any right to repurchase, leaseback from Seller, or receive any financial gain
<br />from, the sale of any portion of the Property , or challenge Buyer's adoption of a resolution of
<br />necessity, pursuant to Code of Civil Procedure sections 1245.245; any right to receive any
<br />notices pursuant to Code of Civil Procedure section 1245.245; any right to enforce any other
<br />obligation placed upon Seller pursuant to Code of Civil Procedure sections 1245.245,
<br />1263.025 and 1263.615; any other rights conferred upon Defendants pursuant to Code of
<br />Civil Procedure sections 1245.245 and 1263.615 and 1263.025; and attorney's fees and
<br />costs. It being understood that this is a complete and full settlement of all acquisition claims,
<br />liabilities, or benefits of any type or nature whatsoever relating to or in connection with the
<br />acquisition of the Property by Buyer. This release shall survive the Close of Escrow.
<br />B. This Agreement arose out of Buyer's efforts to acquire the Property through its municipal
<br />authority. Seller, on behalf of himself, his heirs, executors, administrators, successors and
<br />assigns, hereby fully releases Buyer, its successors, agents, representatives (including
<br />attorneys), and assigns, and all other persons and associations, known or unknown, from all
<br />claims and causes of action by reason of any damage which has been sustained by Seller, or
<br />may be sustained by Seller, as a result of Buyer's efforts to acquire the Property or to
<br />construct the works of improvement thereon, or any preliminary steps thereto. This
<br />Agreement does not, and shall not be construed to, require Seller to indemnify Buyer for
<br />damages which may arise as a result of Buyer's efforts to construct improvements on the
<br />Property.
<br />C. Seller hereby acknowledges that he either has consulted with legal counsel, or had an
<br />opportunity to consult with legal counsel, regarding the provisions of the California Civil Code
<br />section 1542, which provides as follows:
<br />"A general release does not extend to claims which the creditor does not know
<br />or suspect to exist in his or her favor at the time of executing the release, which
<br />if known by him or her must have materially affected his or her settlement with
<br />the debtor."
<br />Seller acknowledges that he may have sustained damage, loss, costs or expenses which are
<br />presently unknown and unsuspected, and such damage, loss, costs or expenses which may have
<br />been sustained, may give rise to additional damage, loss, costs or expenses in the future.
<br />Nevertheless, Seller hereby acknowledges that this Agreement has been negotiated and agreed
<br />upon in light of that situation, and hereby expressly waives any and all rights which Seller may have
<br />under California Civil Code Section 1542, or under any statute or common law or equitable principal
<br />of similar effect.
<br />This acknowledgment and release shall survive the Close of Escrow
<br />14. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M -36, P.O.
<br />Box 1988, in the City of Santa Ana 92701, County of Orange, State of California. The mailing
<br />address of the Seller is TaKai, LLC, 161 Tapestry Irvine, CA 92603.
<br />15. Exceptions. City agrees to accept title to said real property subject to the following: NONE.
<br />16. Entire Agreement. It is mutually agreed that the Parties hereto have herein set forth the
<br />whole of their Agreement. Performance of this PSA by City shall lay at rest, each, every, and all
<br />issue(s) that were raised or could have been raised in connection with the acquisition of Said Real
<br />Property by City.
<br />
|