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JPACIFIC INTERNATIONAL (2)
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JPACIFIC INTERNATIONAL (2)
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Last modified
9/24/2021 12:14:41 PM
Creation date
8/5/2021 2:47:13 PM
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Contracts
Company Name
JPACIFIC INTERNATIONAL
Contract #
A-2021-145
Agency
Public Works
Council Approval Date
4/20/2021
Destruction Year
2026
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transportation; strikes (other than any strike resulting from acts of JPacific); <br />lockouts; action of labor unions; condemnation laws; requisition or order of <br />government or civil or military or naval authorities; or any other similar cause to <br />those stated above, not within JPacific's reasonable control. Notwithstanding <br />anything to the contrary contained herein, in no event hall financial inability <br />constitute Permitted Delay. <br />5. Right of Possession <br />5.1 Right of Possession. The Parties agree to deliver to each other quiet and peaceful physical <br />and legal possession of the respective Properties, free of all personal property, effective as <br />of the Close of Escrow. <br />6. As -Is Condition <br />6.1 As -Is Condition. Parties shall rely solely and exclusively upon the results of their own Due <br />Diligence Investigations of the subject Properties with regard to any physical condition or <br />state of the Properties. By completing the exchange of the Properties, Parties evidence their <br />unconditional acceptance of the condition of each respective Property. Parties <br />acknowledge and agree that each is acquiring its respective Property on an "AS -IS," <br />"WHERE -IS" basis. Parties are not offering to acquire the respective Property based on <br />any representation by the other Party, or a third party, except those expressly set forth in <br />this Agreement. Parties hereby acknowledge that the exchange of the Properties is without <br />warranties of any kind from the other Party, expressed or implied, except as expressly set <br />forth in this Agreement, as to the condition of the subject Property or its improvements, if <br />any, including, without implied limitation, soils, access to the subject Property or to <br />utilities, appliances, structure utility systems, roof, foundation, landscaping or any other <br />component of the subject Property. Parties do not warrant that either Property conforms <br />with any ordinances, including, without implied limitation, zoning or building ordinances. <br />7. Acknowledgement of Full Benefits and Settlement of Eminent Domain Action <br />7.1 Full Benefits. By execution of this Agreement, the Parties hereby acknowledge that this <br />Agreement provides full payment for the acquisition of the subject Properties, and each <br />Party hereby expressly and unconditionally waives any claim for damages, interest, loss of <br />goodwill, severance damages, or any other compensation or benefits other than as already <br />expressly provided for in this Agreement, it being understood that this is a complete and <br />full settlement of all acquisition claims, liabilities, or benefits of any type or nature <br />whatsoever relating to or in connection with the acquisition of the subject Properties. <br />7.2 Settlement of Eminent Domain Action. The Parties hereby acknowledge that performance <br />of this Agreement constitutes full settlement of the eminent domain action entitled City of <br />Santa Ana v. JPacific International as Trustee of 215 Warner SA Land Trust, dated July 7, <br />2014, et al., Orange County Superior Court Case No. 30-2021-01183801-CU-EI-CXC. <br />8. Remedies <br />Page 7 of 13 <br />
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