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ORANGE COUNTY TRANSPORTATION AUTHORITY CONFIDENTIAL
<br />This document contains personal
<br />RIGHT OF WAY CONTRACT
<br />information, and pursuant to Civil Code
<br />section 1798.21, it shall be kept confidential
<br />in order to protect against unauthorized
<br />disclosure.
<br />rents or security money to which the other party is entitled shall forthwith pay such
<br />amount to the other as is necessary to comply with the provisions of this clause.
<br />(1) Should the property be materially destroyed by fire, earthquake, or other calamity
<br />without the fault of either party, this contract may be rescinded by OCTA; in such an
<br />event, OCTA may reappraise the property and make an offer thereon.
<br />(J) There shall be no proration of real property taxes through Escrow. Escrow Agent is
<br />authorized and instructed to comply with the following tax adjustment procedures.
<br />(i) Pay and charge Grantor for any unpaid delinquent taxes and/or penalties and
<br />interest thereon, and for any delinquent or non -delinquent assessments or bonds
<br />against the Property.
<br />(ii) If Escrow closes between July 1 and November 1, and the current tax information
<br />is not available, Escrow Agent is instructed to withhold from Grantor's proceeds
<br />an amount equal to one hundred twenty percent (120%) of the amount payable
<br />on the prior fiscal year's second half tax bill. At such time as current tax
<br />information is available, Escrow Agent shall pay the first installment of real
<br />property taxes and assessments to the County Tax Collector and in the event the
<br />amount withheld is not sufficient, Grantor agrees to immediately pay the
<br />difference to Escrow Agent.
<br />(iii) If Close of Escrow occurs at a time when current tax information is available,
<br />Escrow Agent shall withhold from Grantor's proceeds and pay to the County Tax
<br />Collector the full amount of the current installment of real property taxes and
<br />assessments.
<br />3. FULL AND COMPLETE SETTLEMENT. Grantor hereby acknowledges that he is the sole and
<br />lawful owner of the Property and the compensation paid to Grantor through this Agreement
<br />constitutes the full and complete settlement of any and all claims against OCTA and the City of
<br />Santa Ana and their respective predecessors, successors and assigns, employees, agents,
<br />officers, servants, representatives, contractors, attorneys, partner agencies and assigns
<br />(hereinafter, individually and collectively, "Releasees") by reason of the Project and/or
<br />acquisition of the Property Interests, including, but not limited to, any and all rights or claims that
<br />Grantor had, currently has or may in the future have under Article 1, Section 19 of the California
<br />Constitution, the Eminent Domain Law, or any other law or regulation, except as provided
<br />herein. Grantor, on behalf of himself and his successors and assigns, further knowingly and
<br />voluntarily waives and expressly releases and discharges Releasees from liability in regard to
<br />any claims for the following: pre -condemnation damages, inverse condemnation, lost business
<br />goodwill, lost profits, lost rents, severance damages, mitigation damages, compensation for the
<br />construction and use of the Project in the manner proposed, damage to or loss of improvements
<br />pertaining to the realty, machinery, fixtures, inventory, equipment and/or personal property,
<br />interest, any right to repurchase, leaseback, or receive any financial gain from, the sale of any
<br />portion of the Property, any right to challenge the adoption of a resolution of necessity, any right
<br />to receive any notices pursuant to Code of Civil Procedure section 1245.235, any right to
<br />enforce any obligation pursuant to the Eminent Domain Law, any other rights conferred upon
<br />Grantor pursuant to the Eminent Domain Law, and claims for litigation expenses, attorney's
<br />fees, statutory interest and/or costs.
<br />750-33
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