FREEDMAN, MICHAEL ALAN-2010 - Laserfiche WebLink

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A N-2010-027 PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY AND BILATERAL ESCROW INSTRUCTIONS THIS G ENT (hereinafter "PSA"), entered into on _ �____, 2010, between the CITY OF SANTA ANA, a charter city and munici al corporation duly organized under the Constitution and laws of the State of California (hereinafter "City" or "Buyer"), and Michael Alan Freedman, Trustee and Jeanette Freedman, Trustee of the 2003 Michael Alan and Jeanette Freedman Trust (hereinafter "Seller"), regardless of number or gender; THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees to purchase from Seller, a portion of that certain real property (hereinafter "Said Real Property") legally described and depicted as follows: SEE EXHIBIT "A" — Legal Description and EXHIBIT "B" — Graphical Depiction ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF (Commonly known as a portion of 1006-1012 Fuller Street, Santa Ana, CA) Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the following terms, conditions, promises, covenants, agreements and provisions, to wit: 1. Conveyance by Seller. Seller agrees to convey Said Real Property to City, by Grant Deed, within thirty (30) days from and after the date on which the City has approved this PSA. 2. Title to be Conveyed. (a) The Seller's interest to the Real Property will be conveyed to City by Seller by Grant Deed as set forth in Exhibit "C" to this PSA. (b) Seller agrees to convey to City a Temporary Construction Easement (hereinafter "TCE") as described in the attached Exhibit "A-1" and depicted on the attached Exhibit "B." The TCE is also described in greater detail in Exhibit "D," the TCE Deed, attached hereto and by this reference made a part hereof 3. Property Taxes. Real property taxes, if any, on Said Real Property for the fiscal year within which Said Real Property is conveyed to City as are unpaid at the time of said conveyance shall be cleared and paid in accordance with the provisions of Section 4986 and 5081 of the Revenue and Taxation Code of the State of California. All unpaid taxes on Said Real Property for any and all years prior to the fiscal year within which said conveyance is made shall be paid by Seller before conveyance of Said Real Property to City. 4 Payment of Purchase Price. City agrees to pay to Seller, and Seller agrees to accept from City, as and for the full purchase price for Said Real Property, fixtures & equipment, improvements pertaining to the realty, goodwill (if any), severance damages (if any), and a TCE, the total sum of Twenty -Three Thousand Six Hundred Twenty -Five Dollars and No/100 ($23,625.00). 5. Deadline for Payment of Purchase Price. City agrees to pay the settlement amount of Twenty -Three Thousand Three Hundred and Noll 00 Dollars ($23,300.00) to Seller, and per Seller, Three Hundred Twenty -Five and No/100 Dollars ($325.00) to Said Real Property's Lessee, Hospitality Equipment Fabricators, Inc., compensation for the improvement impact, payable within THIRTY (30) days from receipt of a fully -executed Grant Deed and confirmation that Seller has marketable title to Said Real Property.