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RIF40, LLC
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Last modified
11/7/2022 12:09:16 PM
Creation date
11/7/2022 12:08:10 PM
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Contracts
Company Name
RIF40, LLC
Contract #
A-2022-215
Agency
Public Works
Council Approval Date
11/1/2022
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(b) Delivery to City of (or commitment to deliver) the policy of title insurance as hereinabove <br />provided- <br />i. Possession. Seller agrees to deliver to City, on [he date the Grant Deed conveying said real <br />property to City is recorded, quiet and peaceful possession of said real property, which shall be made free by <br />Seller of all personal property. <br />a. No later than fourteen (14) days after the close of escrow. Seller shall have removed all <br />merchandise, inventory, equipment, personal property, and/or removable trade fixtures from <br />the Property. Any merchandise, inventory, equipment, personal property, and/or removable <br />trade fixtures at the Property as of fourteen (14) days after the close of escrow shall be <br />deemed abandoned by Seller on that date. <br />b. If Seller does not vacate the Property by the above stated date, the Seller agrees to have the <br />Court immediately issue a Writ of Possession and/or Assistance, directing the Marshall or <br />Sheriff of Orange County to take physical possession of the Property in favor of the City. <br />Seller waives the right to have the City file an unlawful detainer action, as well as waive the <br />right to any hearing or any requirements for an application by City to obtain the Writ of <br />Possession and/or Assistance and waives any and all rights to object to the issuance of said <br />Writ if Seller does not vacate the Property by fourteen (14) days after the close of escrow. <br />S. Rental and GcCUpancy By Seller. Intentionally deleted. <br />9. Waivers, The waiver by City of any breach of any covenant or agreement herein contained on the <br />part of the Seller shall not be deemed or held to be a waiver of any subsequent or other breach of said <br />covenant or agreement nor a waiver of any breach of any other covenants or agreements contained herein. <br />10. Weirs, Assic rr is, Successors -in -Interest. This PSA, and all the terms, covenants and conditions <br />hereof, shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective <br />parties hereto. <br />11. Time is of the Essence. In all matters and things hereunder to be done and in all payments <br />hereunder to be made, time is and shall be of the essence. <br />12. Just Corn onsation. Seller acknowledges and agrees that said purchase price is just compensation <br />at fair market value for said real property and includes payment for fixtures & equipment (improvements <br />pertaining to the realty). <br />13. Acknowledgment of Full Benefits and Release. <br />A By execution of this Agreement, Seller, on behalf of himself, his heirs, executors, administrators, <br />successors and assigns, hereby acknowledges that this Agreement provides full payment for the <br />acquisition of the Property by Buyer, and Seller hereby expressly and unconditionally waives any <br />claim for compensation for injury to the remainder ("severance damages"); precondemnation <br />clarnages; claims for inverse condemnation; loss of goodwill and/or lost profits; loss or impairment of <br />any "bonus value" attributable to any lease; damage to or loss of improvements pertaining to the <br />realty damage to or loss of machinery, fixtures, inventory, equipment and/or personal property: any <br />right to repurchase, leaseback from Seller, or receive any financial gain from, the sale of any portion <br />of the Property . or challenge Buyer's adoption of a resolution of necessity, pursuant to Code of Civil <br />Procedure sections 1245.245; any right to receive any notices pursuant to Code of Civil Procedure <br />section 1245 245; any right to enforce any other obligation placed upon Seller pursuant to Code of <br />Civil Procedure sections 1245,245, 1263.025 and '1263.615; any other rights conferred upon <br />Defendants pursuant to Code of Civil Procedure sections 1245.245 and 1263.6,15 and 1263.025: and <br />attorney's fees and costs. This release shall survive the Close of Escrow. <br />This acknowledgment and release shall survive the Close of Escrow. <br />
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