|
<br />INSURANCE NO! RUI"HIF'
<br />, WORK M^Y ~R()eEE!.l
<br />CLERK OF COUNCIL
<br />
<br />DATE: cr ("6-'O(c
<br />
<br />r::P~Jt+ (~)
<br />
<br />{f<:, ~'~{.=..J THIS AGREEMENT, entered into this L day of H0{u';.ol-, 2006, by and between the
<br />CITY OF SANTA ANA, a charter city and municipal corPoration duly organized under the
<br />Constitution and laws of the State of California (hereinafter referred to as the "City"), J & L
<br />Investments (hereinafter called "Seller"), regardless of number or gender;
<br />
<br />A-2006-249
<br />
<br />AGREEMENT FOR ACQUISITION OF
<br />REAL PROPERTY AND ESCROW INSTRUCTIONS
<br />
<br />WITNESSETH
<br />
<br />For and in consideration of their promises, covenants and agreements hereinafter set forth, and
<br />subject to the terms, conditions and provisions hereinafter set forth, Seller agrees to sell to City,
<br />and City agrees to purchase from Seller, all that certain real property (hereinafter referred to as
<br />"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
<br />Ana, described as follows:
<br />
<br />SEE EXHIBIT "A" ATTACHED HERETO
<br />AND BY THIS REFERENCE MADE A PART HEREOF
<br />
<br />(Commonly known as 406 S. Bristol, Santa Ana, CA)
<br />
<br />Said sale and purchase of said real property shall be in accordance with and subject to all of
<br />the following terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />
<br />1. Convevance bv Seller. Seller agrees to convey said real property to City, by Grant
<br />Deed, at the office of First American Title Insurance Company, 2 First American Way, Santa
<br />Ana, California, within thirty (30) days from and after the date on which the City has approved
<br />this Agreement.
<br />
<br />2. Title to be Conveved. (a) Seller agrees that, except as may hereinafter be otherwise
<br />expressly provided, said real property shall be conveyed by Seller to City, as aforesaid, free and
<br />clear of any and all conditions, restrictions, reservations, exceptions, easements, assessments,
<br />profits, limitations, encumbrances, liens, leases, clouds or defects in title except those
<br />exceptions shown in Paragraph 14 below. Seller hereby warrants that the title to said real
<br />property to be conveyed by Seller to City shall be free and clear as above provided. Seller
<br />further agrees that acceptance by City of any deed to said real property, with or without
<br />knowledge of any condition, restriction, reservation, exception, easement, assessment, profit,
<br />limitation, encumbrance, lien, lease, cloud or defect in title, shall not constitute a waiver by City
<br />of its right to the full and clear title hereinabove agreed to be conveyed by Seller to City, nor of
<br />any right which might accrue to City because of the failure of Seller to convey title as
<br />hereinabove provided.
<br />
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of
<br />said real property to City, within the time and at the place hereinabove specified for said
<br />conveyance of said real property, a policy of title insurance to be issued by the above
<br />mentioned title company, with the City therein named as the insured, in the amount FIVE
<br />HUNDRED SEVENTY FIVE THOUSAND DOLLARS AND No/100 ($575,000) insuring the title of the City
<br />to said real property is free and clear of any and all conditions, restrictions, reservations,
<br />exceptions, easements, assessments, profits, limitations, encumbrances, liens, leases, clouds
<br />or defects in title, excepting such specific ones as city may hereinafter expressly agree to take
<br />
|