CHASE FAINBARG, NANCY AND FAINBARG, STEVEN AND EAST END REALTY PARTNERS, LP

Home Browse Search

INSURANCE NOT REQUIRED WORK MAY PROCEED CLERK OF COUNCIL MAY 21 2010 ' SETTLEMENT AGREEMENT SETTLEMENT AGREEMENT (hereinafter referred to as the "Agreement") is made and entered into as of April 17, 2018, by and between the City of Santa Ana (hereinafter referred to as "City"), Nancy Fainbarg Chase & Steven Fainbarg (hereinafter referred to as "Fainbarg"), and East End Realty Partners, LP (hereinafter referred to as `Bast End"). At times hereinafter, East End, Fainbarg, and the City are collectively referred to herein as "the Parties" and individually as a "Partv." RECITALS A. During the 1980's, the City and the Santa Ana Community Redevelopment Agency ("CRA") coordinated with Fiesta Marketplace Partners to redevelop what was the Fiesta Marketplace area of downtown, including the block bordered by Fourth Street, Fifth Street, Bush Street and Spurgeon Street. The improvements to the block consisted of construction of a parking structure at 300 East Fifth Street, a new two-story building at 201 East Fourth Street, and refurbishment of the building at 219 East Fourth Street. A drive aisle was also constructed to serve as rear access to the 201 East Fourth Street building. B. Prior to the improvements, lots were assembled through purchase by the City, CRA and the Fainbarg entities. The lot configuration in place at the time of development did not conform to the newly built structures. Although the intent of the project was to adjust the property boundaries to align with the parking structure and buildings, the lot line adjustments were not accomplished. As a result, the City's parking structure encroaches onto a parcel owned by Fainbarg, and the building at 201 East Fourth Street encroaches onto a parcel owned by the City. C. In order to gain ownership to the excepted portion of the parking structure, correct the lot configurations within the block, and remove maintenance and liability obligations associated with property the Parties do not necessarily have a right to access, this Agreement intends to approve transfer of ownership to encroached -upon properties. Following the execution of this Agreement, lot mergers will be processed to consolidate each of the parcels and remove any lot lines through buildings. D. The following properties comprise the subject of this Agreement: APNs 398-327- 01, 06, 07, 08, 09 ("Subject Properties"). E. The Parties wish to settle, resolve, and compromise any potential disputes and controversies existing between them arising out of and/or relating to, without limitation, the ownership interests and placement of lot lines between the Subject Properties, and any other facts, claims, demands, or causes of action existing as of the execution date of this Agreement and relating to the Subject Properties, whether known or unknown. The Parties wish to avoid incurring the cost, expense, and disruption that would come with prosecuting and defending any litigation, and the Parties intend to achieve a full and complete settlement of all issues and claims involving each other relating to the Subject Properties. NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual covenants set forth below, the Parties agree as follows: