|
<br />INSURANCE NOT REQUIRED
<br />WORK MAY PROCEED
<br />CLERK OF COUNCIL
<br />DATE' (0): PWA (2.)( C. G.o\"ll~)
<br />i:,"LI-O?
<br />PURCHASE AND SALE AGREEMENT AND BILATERAL ESCROW INSTRUCTIONS
<br />FOR ACQUISITION OF REAL PROPERTY
<br />(Commercial)
<br />
<br />A-2007-110
<br />
<br />-Ih
<br />THIS AGREEMENT (hereinafter referred to as "PSA"), entered into this l day of
<br />Mtl.1 ,2007, between theCrTY OF SANTA ANA, a charter city and mun~cipal corporation
<br />duly organized under the Constitution and laws of the State of California (hereinafter referred to
<br />as the "City" or "Buyer"), and VISION 123 PROPERTY MANAGEMENT, Inc., a California
<br />corporation (hereinafter referred to as "Seller"), regardless of number or gender;
<br />
<br />Therefore, for and in consideration of their promises, covenants and agreements hereinafter set
<br />forth, and subject to the terms, conditions and provisions hereinafter set forth, Seller agrees to
<br />sell to City, and City agrees to purchase from Seller, all that certain real property (hereinafter
<br />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
<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 1003 S. Bristol Street, Santa Ana, CA)
<br />
<br />Said purchase and sale 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 Commonwealth Land Title Company, located at 1920 Main Street, Suite
<br />1200, Irvine, California, within thirty (30) days from and after the date on which the City has
<br />approved this PSA.
<br />
<br />2. Title to be Conveyed. (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
<br />and clear of any and all conditions, restrictions, reservations, exceptions, easements,
<br />assessments, profits, limitations, encumbrances (whether monetary or non-monetary, general
<br />or specific, including any and all leasehold interests), liens, clouds or defects in title, except
<br />those exceptions shown in Paragraph 15.below. Seller hereby warrants that the title to Said
<br />Real Property to be conveyed by Seller to City shall be free and clear as provided above. 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 (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
<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 />Page I 0[9
<br />
<br />Seller InitiaIS'(~'
<br />
<br />CAO InitialS~
<br />
|