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A-2016-364 SELL OF IPR AND GOODWILL Project: Bristol Street Improvement Project - Phase 3A APN: 405-274-10 Tenant -Seller: Hugo Solorzano Hernandez dba Hugos Computer AGREEMENT FOR ACQUISITION OF TENANT -SELLER'S INTEREST IN REAL PROPERTY THIS AGREEMENT ("Agreement") is entered into as of this C)G day of lie_Ca, bar- , 2016, by and between THE CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and laws of the State of California ("Buyer"), and HUGO SOLORZANO HERNANDEZ DBA HUGOS COMPUTER ("Tenant - Seller") for the acquisition by Buyer of certain interests in real property described herein. IT IS HEREBY AGREED BETWEEN THE PARTIES AS FOLLOWS: 1. AGREEMENT. Tenant -Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase and acquire from Tenant -Seller, upon the terms and for the consideration set forth in this Agreement, (a) all right, title and interest, in and to certain improvements, including fixtures and equipment (collectively " Conveyed Improvements") located in, on, or affixed in any manner to the premises known and numbered as 1111 N. Bristol Street, Suite H, Santa Ana, California ("Premises") which Premises are part of that real property described in Exhibit A attached hereto, located in the City of Santa Ana, Orange County, California ("Property"), and (b) any tenancy interest of Tenant -Seller ("Tenancy Interest") in and to the Premises and the Property. The Conveyed Improvements are a part of the Premises, and specifically include, without limitation, the items described in the list of Improvements Pertaining to the Realty attached hereto as Exhibit B. The conveyed Improvements referred to as the "Improvements." 2. PURCHASE PRICE. The total purchase price, payable in cash through this Agreement, shall be the sum of: FORTY ONE THOUSAND TWO HUNDRED NINETY NO/100 DOLLARS ($41,290.00) ("Purchase Price") which is computed as follows: Value of Conveyed Improvements as shown on Exhibit B $4,790.00 Loss of Business Goodwill $36,500.00 TOTAL AMOUNT PAYABLE THROUGH THIS AGREEMENT $41,290.00 3. CONVEYANCE OF INTEREST IN REAL PROPERTY. Tenant -Seller agrees to execute a Quitclaim Deed in the same form as that attached hereto as Exhibit C in favor of Buyer ("Quitclaim Deed"), relinquishing, releasing, and forever quitclaiming to Buyer all right title and interest in and to the Tenancy Interest.