OTERO, MIKE (DBA, BOTANICAL SOL) - 2016

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INSURANCE NOT REQUIRED WORK MAY PROCEED A-2016-376 CLERK OF COUNCIL DATE: 1-n -11 SELL ALL (NO SALVAGE) Project: Bristol Street Improvement Project— Phase 4 APN: 015-194-22 Tenant -Seller: Mike Otero dba Botanica Sol AGREEMENT FOR ACQUISITION OF TENANT -SELLER'S INTEREST IN REAL PROPERTY THIS AGREEMENT ("Agreement") is entered into as of this 20 day of beco. h e , 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 MIKE OTERO DBA BOTANICA SOL ("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 terrns 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 "Improvements") located in, on, or affixed in any manner to the premises known and numbered as 2123 S. Bristol Street, 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 Improvements to be conveyed by Tenant -Seller 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. 2. PURCHASE PRICE. The total purchase price, payable in cash through this Agreement, shall be the sum of: THIRTY-ONE THOUSAND, THREE HUNDRED FIFTY- FIVE AND NO/100 DOLLARS ($31,355.00) ("Purchase Price") 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. 4. Tenant -Seller has vacated the property as of August 30, 2016. 5. CONVEYANCE OF INTEREST IN IMPROVEMENTS. The Quitclaim Deed (Exhibit C) will also convey from Tenant -Seller to Buyer all of Tenant -Seller's interest in and to the Improvements, which conveyance shall be free and clear of all recorded and unrecorded encumbrances, liens, assessments, leases, and taxes. Unless otherwise provided, recording of the Quitclaim Deed and Closing (as defined below) of the transaction described herein shall be subject to Tenant -Seller's vacation of the Premises and proof of clear title to all said Improvements having been obtained and received by Buyer in accordance with Paragraphs 8 and 9 of this Agreement. 1