Laserfiche WebLink
1. Transfer of Property. For the consideration hereinafter set forth and <br />upon the conditions specified , Defendants shall grant to the City of San Leandro in fee <br />simple absolute all right, title and interest to the subject parcel described in the <br />Resolution of Necessity (Exhibit A). <br />2. Purchase Price. In consideration for settlement of this action and as <br />the purchase price for the subject parcel, City shall pay Defendants, upon the close of <br />escrow and upon the terms and conditions of Escrow the amount of $87,975.00. For <br />purposes of this action the amount of $27,494 represents just compensation for the <br />subject parcel excluding improvements, and the amount of $60,481 represents just <br />compensation for severance damages resulting from the acquisition of a portion of a <br />larger parcel. The purchase price shall be paid by means of a warrant issued on the <br />City of San Leandro and payable to Defendants jointly without allocation to individual <br />Defendants or Defendants' lessees. <br />3. Representation and Warranties of Seller. In addition to the <br />representations and warranties contained in other paragraphs of this agreement, <br />Defendants make the following representations and warranties: <br />(a) Defendants are the sole owners of, and City shall acquire hereunder, <br />the entire right, title and interest to the subject parcel. <br />(b) The subject parcel is free and clear of all liens, encumbrances, claims <br />rights, demands, easements, leases, agreements, covenants, conditions, and <br />restrictions of any kind or character except for those exceptions to title <br />permitted to be shown on the title policy provided for herein. <br />4. Escrow. City and Defendants agree that an escrow shall be opened with <br />Title Insurance and Trust Co., 1795 East 14th Street, San Leandro, California 94577 <br />within 30 days of the execution of this agreement. City shall deposit the Purchase <br />Price as specified in Paragraph 2 hereof as well as an executed copy of this agreement <br />and an executed standard form Dismissal With Prejudice of action 483141-5 entitled <br />- 2 - <br />