75E - PH - ACQUISITION 2016-2020 W 5TH ST

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ORANGE COUNTY TRANSPORTATION AUTHORITY RIGHT OF WAY CONTRACT CONFIDENTIAL This document contains personal information, and pursuant to Civil Code section 1795.21, it shall he kept confidential in order to protect against unauthorized disclosure. (B) OCTA will pay all usual escrow and recording fees incurred in this transaction, and if title insurance is desired by OCTA, the premium charged therefore. Due to OCTA's status as a public entity, no recording fees will be payable (pursuant to Government Code Section 27383) and no documentary transfer tax will be payable (pursuant to Revenue & Taxation Code Section 11922). This transaction may be handled through an external escrow with Commonwealth Land Title Insurance Company, Escrow Number to be determined. (C) OCTA shall have the authority to deduct and pay from the amount shown on Clause 2(A) above, any amount necessary to satisfy any bond demands and delinquent taxes due in any year except the year in which this escrow closes, together with penalties and interest thereon, and/or delinquent and unpaid non -delinquent assessments which have become a lien against the Property at the close of escrow. (D) There shall be no proration of real property taxes through Escrow. Escrow Agent is authorized and instructed to comply with the following tax adjustment procedures. (i) Pay and charge Grantor for any unpaid delinquent taxes and/or penalties and interest thereon, and for any delinquent or non -delinquent assessments or bonds against the Property. (ii) If Escrow closes between July 1 and November 1, and the current tax information is not available, Escrow Agent is instructed to withhold from Grantor's proceeds an amount equal to one hundred twenty percent (120%) of the amount payable on the prior fiscal year's second half tax bill. At such time as current tax information is available, Escrow Agent shall pay the first installment of real property taxes and assessments to the County Tax Collector and in the event the amount withheld is not sufficient, Grantor agrees to immediately pay the difference to Escrow Agent. (iii) If Close of Escrow occurs at a time when current tax information is available, Escrow Agent shall withhold from Grantor's proceeds and pay to the County Tax Collector the full amount of the current installment of real property taxes and assessments. 3. FULL AND COMPLETE SETTLEMENT. Grantor hereby acknowledges that he is the sole and lawful owner of the Property and the compensation paid to Grantor through this Agreement constitutes the full and complete settlement of any and all claims against OCTA and the City of Santa Ana and their respective predecessors, successors and assigns, employees, agents, officers, servants, representatives, contractors, attorneys, partner agencies and assigns (hereinafter, individually and collectively, "Releasees") by reason of the Project and/or acquisition of the Property Interests, including, but not limited to, any and all rights or claims that Grantor had, currently has or may in the future have under Article 1, Section 19 of the California Constitution, the Eminent Domain Law, or any other law or regulation, except as provided herein. Grantor, on behalf of himself and his successors and assigns, further knowingly and voluntarily waives and expressly releases and discharges Releasees from liability in regard to any claims for the following: pre -condemnation damages, inverse condemnation, lost business 7SE-2S