|
INSUP
<br /> WORT(MAY NO li ASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY N-2024-359
<br /> WORK PROF- AND BILATERAL ESCROW INSTRUCTIONS
<br /> CITY RK. 4 2024
<br /> DATE: THIS AGREEMENT (hereinafter "PSA"), entered into on October 8, 2024,
<br /> 0 PWA(`) 2024, between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized
<br /> C3A1"1 under the Constitution and laws of the State of California (hereinafter"City"or"Buyer"), and BENJAMIN
<br /> (aabf4A LOPEZ, JR., an individual, (hereinafter"Seller"), regardless of number or gender;
<br /> THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and
<br /> subject to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City
<br /> agrees to purchase from Seller, that certain real property (hereinafter "Said Real Property") legally
<br /> described as follows:
<br /> SEE EXHIBIT "A"- Legal Description
<br /> ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF
<br /> (Commonly known as 1306 W. Carlton Place, Santa Ana, CA 92707) (APN:
<br /> 408-333-02)
<br /> Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the
<br /> following 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
<br /> the office of Commonwealth Land Title Insurance Company, Newport Place Drive, Suite 120, Newport
<br /> Beach, California, within sixty (60) days from and after the date on which the City has approved this
<br /> Agreement.
<br /> 2. Title to be Conveyed. 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
<br /> all conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations,
<br /> encumbrances (whether monetary or non-monetary, general or specific, including any and all leasehold
<br /> interests), liens, clouds or defects in title except those exceptions shown in Paragraph 15 below. Seller
<br /> hereby warrants that the title to said real property to be conveyed by Seller to City shall be free and
<br /> 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,
<br /> profit, limitation, encumbrance (whether monetary or non-monetary, general or specific, and including
<br /> any and all leasehold interests), lien, cloud or defect in title, shall not constitute a waiver by City of its
<br /> 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
<br /> real property to City, within the time and at the place hereinabove specified for said conveyance of said
<br /> real property, a policy of title insurance to be issued by the above mentioned title company, with the
<br /> City therein named as the insured, in the amount of Twenty-two Thousand, Eighty-five and
<br /> no/100 Dollars ($22,085.00) insuring the title of the City to said real property is free and clear of any
<br /> and all conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations,
<br /> encumbrances (whether monetary or non-monetary, general or specific, and including any and all
<br /> leasehold interests), liens, clouds or defects in title, excepting such specific ones as city may
<br /> hereinafter expressly agree to take subject to. Acceptance by City of any such policy of insurance,
<br /> whether such insurance complies with the requirements of this paragraph or not, shall not constitute a
<br /> waiver by City of its right to such insurance as is herein required of Seller, nor a waiver by the City of
<br /> any rights of action for damages or any other rights which may accrue to City by reason of the failure
<br /> of Seller to convey title or to provide title insurance as required in this Agreement.
<br />
|