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AND BILATERAL ESCROW INSTRUCTIONS
<br />THIS AGREEMENT (hereinafter « PSA»\.entonediDtVuD 2816'
<br />h8tWxeeD the CITY OF SANTA ANA, @ charter city and municipal C�orpbrar�bn duly organized under the
<br />Constitution and l8N/o of the State Of California (hereinafter "City" or 'BUy8r'). and Bolivar Nunez, or
<br />sUc0es8Vrt[Vstee(S). as trustee of the BVlV8| Nunez Living Trust Dated October 7, 7005 (h8oSiDaft8[
<br />"SeUer"), regardless of number 8rgender;
<br />WHEREAS, Seller C8DlnoisSiOOed an appraisal of Said Real Property (6S defined helum) dated
<br />December 5.2015. Seller obtained the appraisal in a good faith effort to obtain the fair market value
<br />uf Said Real Property (not including any goodwill) and tUpay Seller just compensation within the
<br />[D8nOing of the just compensation clause VfArticle 1. Section 19 of the California Constitution, The
<br />valuation dV8S not include any i0C[eaS8 or deC[e8S8 in fair market value caused by the public
<br />improvement for which the property i8t0be acquired. The December 6/2015appraisal provides that
<br />the fair market value Of Said Real Property iS$704'770.
<br />THEREFORE, for and in consideration of their mutual promises, c0Ve88DtS and agreements, and
<br />tj
<br />subject tO the terms, conditions and provisions Vf this PS/\' Seller agrees tU sell tO City, and City agrees
<br />to purchase from Seller, that certain real property (hereinafter "Said Real Property") legally described as
<br />SEE EXHUBITuA'' — Legal Description
<br />ATTACHED HERETO AND BY THIS REFERENCE MADE /\ PART HEREOF
<br />(Commonly known 882101 S. Bristol Street, Santa Ana, CA 02704\
<br />//\PNO15'l04-17\
<br />Said purchase and sale of Said Rea( Property shall he in accordance with and subject to all of the
<br />following terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by Seller. Seller agrees tu convey said real property {o City, bv Grant Deed, etthe
<br />office of First American Title Insurance Company, 2 First American Way, Santa Ana, California, within
<br />sixty (8O) days from and after the date Vn which the City has approved this Agreement.
<br />2. Title to be Conveyed, Seller agrees that, except GS may hereinafter be otherwise expressly
<br />pPJYided/ said real property shall h8 conveyed by Seller tO City, as aforesaid, free and clear Of any and all
<br />oVndiU0Ds. [eStriCtinVs, ren9rVaUDDs/ exceptions, easements, 8Sa8eamonta' profits, limitations,
<br />eDCurDhroDoao (whether monetary ornoO-olODEd@n/. general or specific, including any and all leasehold
<br />iDtePests). liens, clouds ur defects intitle except those exceptions shown iD Paragraph 15 below. Seller
<br />hereby warrants that the title tn said real property tUheconveyed by Seller t0City shall be free and clear
<br />aS provided above. Seller further agrees that acceptance by City of any deed to said real property, with or
<br />without knowledge Of any condition, restriction, reservation, 8Xc9ptiVD, oasernerd, assessment, profit.
<br />limitation, encumbrance (whether monetary or non-monetary, general or specific, and including any and
<br />all leasehold interests), lien, Cloud or defect in title, shall not constitute a waiver by City of its right to the
<br />full and clear title her8inubov8 agreed to be conveyed by Seller t0 City' nor 8fany right which might
<br />accrue to City because of the failure of Seller to convey title as hereinabove provided.
<br />3^ Title Insurance. Seller agrees to deliver to Cib/, ooO8UrPerd|y with the ooDwoy8UQ8 of said real
<br />property to City, within the time and at the place hereinabove specified for said conveyance of said real
<br />property, 8 policy of title iOnU[8Une to he issued by the above rDeDfiuVeU title company, with the City
<br />therein named as the innUred, in the amVuntofSix Hundred Forty-one Thousand, Seven Hundred
<br />Thirty and no/10U Dollars /$641,730.VO\insuring the title of the City tn said real property iS free and
<br />clear Ofany and all unnditioky, r8St/iCti0nn, r000n/ationn, exceptions, ooaomnnto, aoawu8D\ento, pnufitu,
<br />liU8itoti08S, encumbrances (whether nA0Ued3rV or AV8-U1oDet8[y' general or specific, and including any
<br />41;1111
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