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INSURANCE NOT REQUIRED WORK MAY PROCEED CLERK OF COUNCIL A-2019-009 nArc, JAN 2 4 2010 AGREEMENT FOR EXCHANGE OF REAL PROPERTY s ��P' %) N�df„U'. "� This Agreement for Exchange of Real Property ("Agreement') is entered as of the 15 day of 201/,gby and between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and laws of the State of California ("City"), and SOUTHERN CALIFORNIA EDISON COMPANY, a California corporation. The City and SCE are hereinafter sometimes referred to collectively as the "Parties." RECITALS A. City owns certain real property commonly known as Orange County Assessor Parcel No. 405-262- 24, located at 911 N. Bristol Street in the City of Santa Ana, County of Orange, State of California, as more particularly described and depicted in the Legal Description attached hereto as Exhibit A and incorporated herein by reference ("City Property"). B. SCE owns certain real property commonly known as Orange County Assessor Parcel No. 405-274- 11, located at 1217 N. Bristol Street in the City of Santa Ana, County of Orange, State of California, as more particularly described and depicted in the Legal Description attached hereto as Exhibit B and incorporated herein by reference ("SCE Property"). C. The Parties desire by this Agreement to provide the teens and conditions for the exchange of fee interests in the City Property and the SCE Property, together with all rights, easements and appurtenances thereto. AGREEMENT THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject to the terms, conditions and provisions of this Agreement, the Parties agree as follows: 1. Exchange of Real Property 1.1. Conveyance by City. City agrees to convey the City Property to SCE by Grant Deed, and SCE agrees to accept the same from the City. 1.2. Conveyance by SCE. SCE agrees to convey the SCE Property to City by Grant Deed, and City agrees to accept the same from SCE. 2. Consideration 2.1 Consideration. In full and complete payment for the exchange of fee interests in the City Property and the SCE Property, City shall provide to SCE a signed grant deed for the City Property in the form attached as Exhibit C, and SCE shall provide to City a signed grant deed for the SCE Property in the form attached as Exhibit D. 3. Escrow 3.1 Escrow Agent. Within five (5) days from and after the execution of this Agreement by all Parties, City agrees to open an escrow at the office of Commonwealth Title Company at 4100 Page 1 of 15