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itivUr" ANI C I AlIf Itdai l'; fr[;} A-2018-035
<br />V19K Mffi' PH0 GErD
<br />CLE,K OF COUNCIL P
<br />a.'.; PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY
<br />FEB 2 2 2018 AND BILATERAL ESCROW INSTRUCTIONS
<br />THIS AGREEMENT (hereinafter "PSA"), entered into on o 2018,
<br />between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the
<br />Constitution and laws of the State of California (hereinafter "City" or "Buyer"), and, Dat Ngoc Hoang, a single
<br />man (hereinafter "Seller"), regardless of number or gender;
<br />THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject
<br />to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees to
<br />purchase from Seller, that certain real property (hereinafter "Said Real Property") legally described as
<br />follows:
<br />SEE EXHIBIT "A" — Legal Description
<br />ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF
<br />(Commonly known as 2245 South Oak Street, Santa Ana, CA)
<br />(APN 016-102-24)
<br />Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the following
<br />terms, conditions, promises, covenants, agreements and provisions, to wit:
<br />1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at the
<br />office of Commonwealth Title Company at 4100 Newport Place Drive, Suite 120, Newport Beach, California
<br />within sixty (60) days from and after the date on which the City has approved this Agreement.
<br />2. Title to be Conveyed. Seller agrees that, except as may hereinafter be otherwise expressly
<br />provided, said real property shall be conveyed by Seller to City, as aforesaid, free and clear of any and all
<br />conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations,
<br />encumbrances (whether monetary or non -monetary, general or specific, including any and all leasehold
<br />interests), liens, clouds or defects in title except those exceptions shown in Paragraph 15 below. Seller
<br />hereby warrants that the title to said real property to be conveyed by Seller to City shall be free and clear as
<br />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, exception, easement, assessment, profit,
<br />limitation, encumbrance (whether monetary or non -monetary, general or specific, and including any and all
<br />leasehold interests), lien, cloud or defect in title, shall not constitute a waiver by City of its right to the full and
<br />clear title hereinabove agreed to be conveyed by Seller to City, nor of any right which might accrue to City
<br />because of the failure of Seller to convey title as hereinabove provided.
<br />3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said real
<br />property to City, within the time and at the place hereinabove specified for said conveyance of said real
<br />property, a policy of title insurance to be issued by the above mentioned title company, with the City therein
<br />named as the insured, in the amount of Four Hundred Twenty -Three Thousand Dollars and Zero Cents
<br />($423,000.00) insuring the title of the City to said real property is free and clear of any and all conditions,
<br />restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether
<br />monetary or non -monetary, general or specific, and including any and all leasehold interests), liens, clouds or
<br />defects in title, excepting such specific ones as city may hereinafter expressly agree to take subject to.
<br />Acceptance by City of any such policy of insurance, whether such insurance complies with the requirements
<br />of this paragraph or not, shall not constitute a waiver by City of its right to such insurance as is herein
<br />required of Seller, nor a waiver by the City of any rights of action for damages or any other rights which may
<br />accrue to City by reason of the failure of Seller to convey title or to provide title insurance as required in this
<br />Agreement.
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