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1119 UAI}iENC>"�:(t1jj(7 A-2017.272
<br />WORK AAAY PROCECi')
<br />CLERK Of' COUNCIL
<br />OCT 17 %RCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY
<br />0'. AND BILATERAL ESCROW INSTRUCTIONS
<br />THIS AGREEMENT (hereinafter "RSA" or "Agreement"), entered into on
<br />C✓bey� 2017, between the CITY OF SANTA ANA, a charter city and
<br />municipal corporation duly organized under the Constitution and laws of the State of California
<br />(hereinafter "City' or `Buyer"), and AU ZONE SANTA ANA, LLC, a California limited liability company
<br />(hereinafter "Seller"), regardless of number or gender;
<br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and
<br />subject to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees
<br />to purchase from Seller, the approximately 258 square foot area in that certain real property
<br />(hereinafter "Said Real Property' or "Property') legally described as follows:
<br />SEE EXHIBIT "A" — Legal Description
<br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as: a portion of 2120-2130 S. Bristol Street, Santa Ana, CA 92704)
<br />(APN#: 408-471-17)
<br />Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the
<br />following terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by Seller. Seller agrees to convey Said Real Property to City, by Grant Deed (in
<br />the format of Exhibit E attached hereto), at the office of First American Title Insurance Company, 2 First
<br />American Way, Santa Ana, California, within sixty (60) days from and after the date on which the City
<br />has approved this Agreement.
<br />2. Title to be Conveyed. Seller agrees that, except as may hereinafter be otherwise expressly
<br />provided, Said Real Property shall be conveyed by Seller to City, as aforesaid, free and clear of any and
<br />all conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations,
<br />encumbrances (whether monetary or non -monetary, general or specific, including any and all leasehold
<br />interests), liens, clouds or defects in title except those exceptions shown in Paragraph 15 below. Seller
<br />hereby warrants that the title to Said Real Property to be conveyed by Seller to City shall be free and
<br />clear as provided above. Seller further agrees that acceptance by City of any deed to Said Real
<br />Property, with or without knowledge of any condition, restriction, reservation, exception, easement,
<br />assessment, profit, limitation, encumbrance (whether monetary or non -monetary, general or specific, and
<br />including any and all leasehold interests), lien, cloud or defect in title, shall not constitute a waiver by City
<br />of its right to the full and clear title hereinabove agreed to be conveyed by Seller to City, nor of any right
<br />which might accrue to City because of the failure of Seller to convey title as hereinabove provided.
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of Said Real
<br />Property to City, within the time and at the place hereinabove specified for said conveyance of Said Real
<br />Property, a policy of title insurance to be issued by the above mentioned title company, with the City
<br />therein named as the insured, in the amount of Seventy -Five Thousand and no/100 Dollars ($75,000.00)
<br />insuring the title of the City to Said Real Property is free and clear of any and all conditions, restrictions,
<br />reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether
<br />monetary or non -monetary, general or specific, and including any and all leasehold interests), liens,
<br />clouds or defects in title, excepting such specific ones as city may hereinafter expressly agree to take
<br />subject to. Acceptance by City of any such policy of insurance, whether such insurance complies with
<br />the requirements of this paragraph or not, shall not constitute a waiver by City of its right to such
<br />insurance as is herein required of Seller, nor a waiver by the City of any rights of action for damages or
<br />Purchaw and Fees grexncnt- ti, /0NE Vx. 2007072'1
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