AU ZONE SANTA ANA, LLC.-2017 - Laserfiche WebLink

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Value of the Property. City agrees to deposit said purchase price in escrow with the Escrow Agent within THIRTY (30) days from and after the date on which the City has approved this Agreement, and the Escrow Agent is hereby authorized to pay the same to Seller upon and after: (a) Conveyance of Said Real Property by Seller to City as hereinabove provided; (b) Acceptance by City of a Grant Deed (in the format of Exhibit E attached hereto) conveying Said Real Property to City; (c) Delivery to City of the policy of title insurance as hereinabove provided; (d) Recordation of the Deed conveying Said Real Property to City. 7. Possession. Seller agrees to deliver to City, on the date the Deed conveying Said Real Property to City is recorded, quiet and peaceful possession of Said Real Property, which shall be made free by Seller of all personal property. a. No later than three (3) days after close of escrow, Seller shall have removed all merchandise, inventory, equipment, personal property, and/or removable trade fixtures from Said Real Property, and shall leave Said Real Property in a broom swept condition. Any merchandise, inventory, equipment, personal property, and/or removable trade fixtures at Said Real Property as of three days after close of escrow shall be deemed abandoned by Seller on that date, unless a prior written agreement has been made with the City or its representatives. b. If Seller does not vacate said Real Property by the above stated date, the Seller agrees to have the Court immediately issue a Writ of Possession and/or Assistance, directing the Marshall or Sheriff of Orange County to take physical possession of Said Real Property in favor of the City. Seller waives the right to have the City file an unlawful detainer action, as well as waive the right to any hearing or any requirements for an application by City to obtain the Writ of Possession and/or Assistance and waives any and all rights to object to the issuance of said Writ if Seller does not vacate the Property by three (3) days after close of escrow. 8. Holdover Seller. At the sole discretion of the City, the City may allow the Seller to stay beyond the three days after the close of escrow as stated in Section 7a. In doing so, the Seller will become a Holdover Seller, and will be required to sign an interim rental agreement. Said rental agreement will provide the rental rate and terms of the lease. If the City or its agents fail to provide said rental agreement to Seller and Seller is still in occupancy of the Property after the three days after the close of escrow, then Seller is responsible to contact the City or its agents, to determine as to where to send their rent payment. Failure of City or its agents to present the interim rental agreement to Seller does not absolve the Seller from paying rent. 9. Waivers. The waiver by any party of any breach of any covenant or agreement herein contained on the part of the other party shall not be deemed or held to be a waiver of any subsequent or other breach of said covenant or agreement nor a waiver of any breach of any other covenants or agreements contained herein. 10. Heirs, Assigns, Successors -in -Interest, This PSA, and all the terms, covenants and conditions hereof, shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective Parties hereto. Aurchas Xid s,oics Agrc:m iM - A, IONT l' 20170727