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A-2007-108
<br />' PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY
<br />fl tai 1 AND BILATERAL ESCROW INSTRUCTIONS
<br />~ ~~V~f ytµ. (Residential)
<br />~~~~ THIS AGREEMENT, entered into this Today of M~, 2007, by and between the CITY OF
<br />SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and laws of the
<br />State of California (hereinafter referred to as the "City" or "Buyer"), and Myrtis Maddox (hereinafter called
<br />"Seller"), regardless of number or gender;
<br />WITNESSETH
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the
<br />terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City, and City agrees to purchase
<br />from Seller, all that certain real property (hereinafter referred to as "said real property") described as follows:
<br />All that certain real property located in the State of California, County of Orange, City of Santa Ana, described
<br />as follows:
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 1301 Raymar, Santa Ana, CA)
<br />Said purchase and sale of said real property shall be in accordance with and subject to all of the following
<br />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, at the office
<br />of LandAmerica Commercial Services, Title Insurance Company, located at 1920 Main Street, 12th Floor,
<br />Irvine, California, within thirty (30) days from and after the date on which the City has approved this Agreement.
<br />2. Title to be Conveyed. (a) 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 all
<br />conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances
<br />(including any and all leases), liens, clouds or defects in title except those exceptions shown in Paragraph 15
<br />below. Seller hereby warrants that the title to said real property to be conveyed by Seller to City shall be free
<br />and clear as provided above. Seller further agrees that acceptance by City of any deed to said real property,
<br />with or without knowledge of any condition, restriction, reservation, exception, easement, assessment, profit,
<br />limitation, encumbrance (including any and all leases), lien, cloud or defect in title, shall not constitute a waiver
<br />by City 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 property
<br />to City, within the time and at the place hereinabove specified for said conveyance of said real property, a
<br />policy of title insurance to be issued by the above mentioned title insurance company, with the City therein
<br />named as the insured, in the amount SIX HUNDRED AND EIGHTY THOUSAND DOLLARS ($680,000)
<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 (including any and all
<br />leases), liens, clouds or defects in title, excepting such specific ones as city may hereinafter expressly agree to
<br />take subject to. Acceptance by City of any such policy of title 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 insurance as
<br />is herein required of Seller, nor a waiver by the City of any rights of action for damages or any other rights
<br />which may accrue to City by reason of the failure of Seller to convey title or to provide title insurance as
<br />required in this Agreement.
<br />4. Escrow. City agrees to open an escrow at the office of LandAmerica Commercial Services, Title
<br />Insurance Company, located at 1920 Main Street, 12th Floor, Irvine, California, (the Escrow Agent) within five
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