|
<br />A-2005- 141
<br />
<br />0: fMr+
<br />v- .J'~1'j-e..\:l6')
<br />
<br />THE CITY OF SANTA ANA, CALIFORNIA
<br />
<br />AGREEMENT FOR ACQUISITION OF
<br />REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />
<br />. 0----
<br />THIS AGREEMENT, entered into this 5(;1 day of fY\A j ,2005, by and between the CITY OF
<br />SANTA ANA, a charter city and municipal corporation duly organized under the Constitution and laws of the
<br />State of California (hereinafter referred to as the "City"), SPIEGEL FAMIL Y LIMITED PARTNERSHIP II,
<br />AN ARIZONA LIMITED PARTNERSHIP (hereinafter called "Seller"), regardless of number or gender;
<br />
<br />WITNESSETH
<br />
<br />F or and in consideration of their promises, covenants and agreements hereinafter set forth, and subject to the
<br />terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City, and City agrees to purchase
<br />from Seller, all that certain real property (hereinafter referred to as "said real property") described as follows:
<br />
<br />All that certain real property located in the State of California, County of Orange, City of Santa Ana, described
<br />as follows:
<br />
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />
<br />(Commonly known as 124 S. Bristol Street, Santa Ana, CA)
<br />
<br />Said sale and purchase of said real property shall be in accordance with and subject to all of the following terms,
<br />conditions, promises, covenants, agreements and provisions, to wit:
<br />
<br />1. Convevance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at the office of
<br />First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty (30) days
<br />from and after the date on which the City has approved this Agreement.
<br />
<br />2. Title to be Conveyed. (a) 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, liens, leases,
<br />clouds or defects in title except those exceptions shown in the title report ordered by the City.
<br />
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said real property
<br />to City, within the time and at the place hereinabove specified for said conveyance of said real property, a
<br />policy of title insurance to be issued by the above mentioned title company, with the City therein named as the
<br />insured,
<br />in the amount ONE MILLION TEN THOUSAND DOLLARS AND No/lOO ($1,010,000) insuring the title of the City to
<br />said real property is free and clear of any and all conditions, restrictions, reservations, exceptions, easements,
<br />assessments, profits, limitations, encumbrances, liens, leases, clouds or defects in title, excepting tbose
<br />1
<br />
|