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ATTACHMENT <br />SUMMARY EXPLANATION STATEMENT <br />You are entitled to receive full payment prior to vacating the real property being purchased <br />urdess you have heretofore waived such entitlement. You are not required to pay recording <br />fees, transfer taxes, or the pro rata portion of real property taxes which are allocable to any <br />period subsequent to the passage of title or possession. <br />1. The holders of liens, deeds of trust or other security interests in your property and/or any <br />leases or tenants of your property may be entitled to all or a portion of the consideration to <br />be paid by the City of Santa Ana ("City") for your property in accordance with the particular <br />contract(s) existing between you and the lien holder or lessee/tenant. <br />2. All buildings, structures, and other improvements affixed to the land described in the <br />reference documents covering this transaction and owned by the grantor herein or, if <br />applicable, owned by you as a tenant are being conveyed unless other disposition of these <br />improvements have been made. The interest acquired is fee title. <br />3. The amount determined to be just compensation was determined after consideration of an <br />appraisal of the fair market value of the Parcel. The basis for the amount determined to be <br />just compensation is summarized on the attached Appraisal Summary Statement (Statement <br />of Just Compensation) and the amount of the Purchase Price: <br />a. Is the full amount believed by the City to be just compensation for the property <br />taken; <br />b. Is not less than the approved appraisal of the fair market value of the property as <br />improved; <br />c. Disregards any decrease or increase in the fair market value of the public <br />improvement for which the property is to be acquired for such public improvement, <br />other than that due to physical deterioration within the reasonable control of the <br />owner or occupant; and <br />d. Reflects the definition of "fair market value" as defined in Eminent Domain Law <br />(California Code of Civil Procedure Section 1263.320) which is "the highest <br />price on the date of valuation that would be agreed to by a seller being willing to <br />sell but under no particular or urgent necessity for doing so, nor obliged to sell, <br />and a buyer, being ready, willing and able to buy but under no particular necessity <br />for so doing, each dealing with the other will full knowledge of all the uses and <br />purposes for which the property is reasonably adaptable and available." <br />e. Does not reflect any consideration of or allowance for any relocation assistance <br />and payments or other benefits which the owner is entitled to receive under an <br />agreement with the public entity. <br />4. If you ultimately elect to reject the offer made by the City of Santa Ana for your property, <br />you are entitled to have the amount of compensation determined by a court of law in <br />accordance with, the laws of the State of California. <br />75N-28 <br />