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20C - AA - BRISTOL ST PHASE 4
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12/19/2017
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20C - AA - BRISTOL ST PHASE 4
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12/14/2017 7:10:08 PM
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12/14/2017 7:06:27 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
20C
Date
12/19/2017
Destruction Year
2022
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(c) Delivery to City of the policy of title Insurance as hereinabove provided; <br />(d) Recordation of the Deed conveying said real property to City. <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying said real <br />property to City is recorded, quiet and peaceful possession of said real property, which shall be made <br />free by Seller of all personal property. <br />a. No later than three (3) days after close of escrow, Seller shall have removed all <br />merchandise, inventory, equipment, personal property, and/or removable trade fixtures <br />from the Property, and shall leave the Property in a broom swept condition. Any <br />merchandise, inventory, equipment, personal property, and/or removable trade fixtures <br />at the Property as of three days after close of escrow shall be deemed abandoned by <br />Seller on that date, unless a prior written agreement has been made with the City or its <br />representatives. <br />b. If Seller does not vacate the Property by the above stated date, the Seller agrees to <br />have the Court immediately issue a Writ of Possession and/or Assistance, directing the <br />Marshall or Sheriff of Orange County to take physical possession of the Property in <br />.favor of the City. Seller waives the right to have the City file an unlawful detainer <br />action, as well as waive the right to any hearing or any requirements for an application <br />by City to obtain the Writ of Possession and/or Assistance and waives any and all <br />rights to object to the issuance of said Writ if Seller does not vacate the Property by <br />three (3) days after close of escrow. <br />B. Holdover Seiler. At the sole discrepancy of the City, the City may allowtheSeller to stay <br />beyond the three days after the close of escrow as stated in Section 7a. In doing so, the Seller will <br />become a Holdover Seller, and will be required to sign an interim rental agreement. Said rental <br />agreement will provide the rental rate and terms of the lease. If the City or Its agents fail to provide <br />said rental agreement to Seiler and Seller is still in occupancy of the Property after the three days <br />after the close of escrow, then Seller is responsible to contact the, City or its agents, to determine as <br />to where to send their rent payment. Failure of City or its agents to present the interim rental <br />agreement to Seller does not absolve the Seller from paying rent. <br />9. Rental and Occupancy By Seller. Seller agrees to execute a complete, current and correct <br />statement of rentals (Selier Estoppel) on a form furnished to Seller by City and deliver same to City <br />within fifteen (15) days hereof with copies of any written leases or rental agreements attached. All <br />rents will be prorated as of the close of escrow on the basis of a 30 -day month/365-day year <br />consistent with that statement, subject to approval of City. .Seller hereby agrees not to rent any units <br />on the premises which are vacant as of the date that this agreement is executed by seller, or which <br />may be vacated by present occupants prior to close of escrow. In return, the City agrees to reimburse <br />seller lost rentals incurred by keeping units vacant through the close of escrow. Seller agrees that any <br />and all Tenant Security Deposits pertaining to the subject property collected by or in the possession <br />of Seller prior to the close of escrow shall be transferred to and become the property of City during <br />escrow. <br />Seller hereby warrants that the rental statement referred to shall include the terms of all rental <br />agreements, tenancies, and leases (written, unwritten, recorded, or unrecorded) and Seller agrees to <br />hold City harmless from all liability from any such leases or agreements. Seller also warrants that <br />there are no oral or written leases on all or any portion of the subject property exceeding a period of <br />one month. <br />10. Waivers. The waiver by City of any breach of any covenant or agreement herein contained <br />on the part of the Seller shall not be deemed or held to be a waiver of any subsequent or other <br />20C-9 <br />
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