|
INSURANCE NOT REQUIRED A-2023-003
<br />WORK MAY PROCEED
<br />CLERK OF T�IP1�R1C IL ND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY
<br />AND BILATERAL ESCROW INSTRUCTIONS
<br />DATE: JAN 2 4 2023
<br />THIS AGREEMENT (hereinafter "PSA"), entered into onjoinviarl 2022,
<br />between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the
<br />Constitution and laws of the State of California (hereinafter "City" or 'Buyer"), and Fidel Solis and
<br />Margarita Solis, husband and wife as joint tenants (hereinafter "Seller"), regardless of number or gender;
<br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject
<br />to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees to
<br />purchase from Seller, that certain real property (hereinafter "Said Real Property") legally described as
<br />follows: l
<br />FAP41 �)(s.K) t SEE EXHIBIT "A" — Legal Description
<br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 909 E. Warner Avenue, Santa Ana, CA 92707)
<br />(APN 016.105.21)
<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
<br />office of Fidelity National Title, 4400 MacArthur Blvd., Suite 200, Newport Beach, California within sixty (60)
<br />days from and after the date on which the City has approved this Agreement.
<br />2. Title to be Conveyed. Seller agrees that, except as may hereinafter be otherwise expressly provided,
<br />said real property shall be conveyed by Seller to City, as aforesaid, free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether
<br />monetary or non -monetary, general or specific, including any and all leasehold interests), liens, clouds or
<br />defects in title except those exceptions shown in Paragraph 15 below. Seller hereby warrants that the title to
<br />said real property to be conveyed by Seller to City shall be free and clear as provided above. Seller further
<br />agrees that acceptance by City of any deed to said real property, with or without knowledge of any condition,
<br />restriction, reservation, exception, easement, assessment, profit, limitation, encumbrance (whether monetary
<br />or non -monetary, general or specific, and including any and all leasehold interests), lien, cloud or defect in
<br />title, shall not constitute a waiver by City of its right to the full and Gear title hereinabove agreed to be
<br />conveyed by Seller to City, nor of any right which might accrue to City because of the failure of Seller to
<br />convey title as hereinabove provided.
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said real
<br />property to City, within the time and at the place hereinabove specified for said conveyance of said .real
<br />property, a policy of title insurance to be issued by the above mentioned title company, with the City therein
<br />named as the insured, in the amount of Seven Hundred Forty Thousand Dollars and no/100 Dollars
<br />($740,000.00) insuring the title of the City to said real property is free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether
<br />monetary or non -monetary, general or specific, and including any and all leasehold interests), liens, clouds or
<br />defects in title, excepting such specific ones as city may hereinafter expressly agree to take subject to.
<br />Acceptance by City of any such policy of insurance, whether such insurance complies with the requirements
<br />of this paragraph or not, shall not constitute a waiver by City of its right to such insurance as is herein
<br />required of Seller, nor a waiver by the City of any rights of action for damages or any other rights which may
<br />accrue to City by reason of the failure of Seller to convey title or to provide tide insurance as required in this
<br />Agreement.
<br />
|