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<br />INSUI\i\NCE NOT REQUIRED <br />v\IORK MIIY PROCEr:!) <br />CLERK OF COUNCIL <br />DATE: APR 1 0 2Uu7 <br /> <br />lJ'.-P>J AG<j <br />{j(.Jcrs~ <br /> <br />N-2007 -036 <br /> <br />RESIDENTIAL RENT AL AGREEMENT <br /> <br />This Residential Rental Agreement (hereinafter "Agreement") is entered into on March 3, 2007 between <br />John P. Hou and Tao-Jan Hou (hereinafter "Owner" or "Lessor") and the City of Santa Ana, a charter <br />city and municipal corporation duly organized under the Constitution and laws of the State ofCalifomia <br />(hereinafter "City" or "Lessee"). <br /> <br />RECITALS <br /> <br />A. Owner owns in fee a residential rental property located at 711 S. Bristol. Santa Ana. California <br />(hereinafter "Property"). Owner desires to rent the Property to City for the purposes and on the <br />terms and conditions set forth in this Agreement. <br /> <br />B. City desires to lease the Property from Owner for the purposes and on the terms and conditions <br />set forth in this Agreement. <br /> <br />C. City is in the process of acquiring the Property by way of purchase agreement or by way of <br />condemnation, as the Property is within the site designated as the proposed Bristol Street <br />Widening Project. <br /> <br />D. The City's acquisition of the Property necessitates the relocation of Owner's current tenants <br />on a timely basis prior to the close of the acquisition escrow and prior to City taking possession of <br />the Property. <br /> <br />E. Owner desires to be protected against loss of rental income for the period of time commencing <br />with the relocation of Owner's current tenants to the time title to the Property vests in City or <br />until City takes physical possession ofthe Property. City is desirous of paying to Owner the <br />value of the potential loss of monthly rental income for this period. <br /> <br />WHEREFORE, in consideration of the mutual and respective promises of the Parties to this Agreement, <br />and suhject to all the terms and conditions contained herein, the Parties agree as follows: <br /> <br />I. Term of Agreement. The tenancy created by this Agreement shall be periodic, on a month-to- <br />month basis, commencing on March 3, 2007 and terminating on or before September 30, 2007. <br />Upon the written agreement of Owner-Lessor and City-Lessee, this Agreement may be renewed <br />for successive monthly terms, but in no event shall the term of this Agreement extend past <br />September 30, 2007. <br /> <br />2. Effective Date. This Agreement shall become effective and will be binding on the Parties once it <br />is signed by the Clerk ofthe Santa Ana City Council. <br /> <br />3. Rental Premises. The Property leased to City pursuant to this Agreement is referenced in the <br />recitals above, and is more particularly described in Exhibit "A" attached hereto and incorporated <br />herein by this reference. The Property is improved with an 829 square foot single family <br />residence, formerly occupied by Owner's current tenants Andres Coria (along with 8 <br />occupants). <br /> <br />4. Permissible Use. The Property shall be used for residential purposes only. Any use of the <br />Property that does not comply with this Agreement is not a permitted use and will constitute a <br />breach of this Agreement. <br /> <br />Page 1 of 5 <br />