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<br />\ :. - II \. \.. <br /> <br />.. .~-\~:J <br /> <br />e <br /> <br />e <br /> <br />A-2007 -277 <br /> <br />\ . " ,': (I. I'" <br />\-.!, ' . . "..(::I:D <br />::U:FI' ;f I ~\l(>~ <br />[I~"I: /;'-13~.07 <br />[). PW A / Oes'IW' Enfd <br />L\ nthJ Gum e.z ( <br /> <br />ACQUISITION SETTLEMENT AGREEMENT <br /> <br />This Acquisition Settlement Agreement ("ASA") is entered into on 1'71 1].) , 2007 <br />between the City of Santa Ana, a charter city and municipal corporation ly organized and <br />existing under the Constitution and laws of the State of California ("City" or "Landlord"), and <br />Jeronimo Chavez and Guadalupe Chavez, individuals, dba Jeronimo Chavez Income Tax & Real <br />Estate, and JC Realtors, Inc., a California corporation (hereinafter collectively referred to as <br />"Tenants"). City and Tenants may collectively be referred to in this ASA as the "Parties," <br /> <br />RECITALS <br /> <br />A. City is the fee owner of 317 South Bristol, Santa Ana, California ("Property" or "License <br />Area") . <br /> <br />B. City and Tenants entered into a periodic tenancy on or about January, 2007 for Tenant's <br />use ofthe Property. <br /> <br />C. Tenants operate a business on the Property as individuals, dba Jeronimo Chavez Income <br />Tax & Real Estate, and as JC Realtors, Inc., and are the occupants of the real property <br />and improvements located on the Property, more specifically described and depicted in <br />Exhibit" A", Legal Description. <br /> <br />D. The Property is located within the area of the Bristol Street Widening Project from Pine <br />Street to McFadden Avenue and City previously acquired the Property in fee for a public <br />use ("Project"). <br /> <br />E. The Parties' rights and obligations with regard to Tenant's entitlement to relocation and <br />other displacement benefits are in dispute. The Parties desire to establish their respective <br />rights and obligations upon the terms and conditions as hereinafter set forth, and to <br />resolve any and all disputes with regard to any and all of the compensation and/or other <br />benefits to which Tenants are now or may in the future be entitled as a result of the <br />acquisition of the Property by City. <br /> <br />Therefore, in consideration of the promises, covenants and agreements hereinafter set forth, and <br />subject to the terms, conditions and provisions of this AS A, the Parties agree as follows: <br /> <br />1. Consideration <br /> <br />a. City agrees to pay Tenants, collectively, in accordance with the disbursement <br />schedule referenced in sections I(b) & I (c), below, the total sum of TWO <br />HUNDRED THOUSAND AND NO/IOO DOLLARS ($200,000.00) as full <br />compensation for any and all relocation assistance and/or other relocation benefits or <br />relocation expense reimbursements to which Tenants are or may be entitled, and as <br />compensation to Tenants for any and all loss of business goodwill, leasehold interests, <br />personal property, improvements pertaining to realty, bonus value, severance <br /> <br />Acquisition Settlement Agreement <br />Page I of8 <br />