OPA: Grimshaw House - City of Anaheim

all, of the Tract Map, and (iii) consisting of a portion of the property bearing the common
address of 610 South Olive Street, Anaheim, California. The Site is depicted on the Map
and described in the Legal Description.
“Title Company” means First American Title Insurance Company.
“Title Policy” is defined in Section 304.6 of this Agreement.
“Tract Map” means Tract Map No. 17291.
“Transfer” is defined in Section 801 of this Agreement.
200. ASSEMBLY OF THE SITE.
201. Site. As of the Date of Agreement, Agency owns the Site.
202. Relocation. Agency shall be responsible for complying and/or causing
compliance with all applicable federal, state and local laws and regulations concerning
the displacement and/or relocation of all eligible persons and/or businesses from the Site,
if any, including without limitation, compliance with the California Relocation Assistance
Law, California Government Code Section 7260, et seq. All costs associated with such
compliance, including without limitation, the cost of utilizing a relocation consultant and
the costs of providing relocation benefits to all eligible persons and business, shall be
borne by Agency.
300. DISPOSITION OF THE SITE.
301. Purchase and Sale. Subject to all of the terms and conditions set forth in this
Agreement, Agency agrees to sell to Developer and Developer agrees to purchase from
Agency all of Agency’s right, title and interest in and to the Site, together with all rights,
privileges, tenements, hereditaments, rights-of-way, easements and appurtenances thereto,
if any, (the “Conveyance” or, alternatively to account for phased Closings, the
“Conveyances”) for the Purchase Price. Agency has determined that, based on the
conditions imposed on Developer with respect to the construction of the Developer
Improvements and the sale of the Housing Units, the reuse value of the Site equals the
Purchase Price; accordingly, the consideration for the Conveyance shall be Developer’s
payment of the Purchase Price, plus Developer’s agreement to perform the construction
of the Developer Improvements, sell the Housing Units and be bound by the covenants
and restrictions set forth herein.
301.1. Phased Closing. The Parties acknowledge and agree that the Closing for
the Conveyance shall occur in multiple phases. As of the Date of Agreement, the
Parties anticipate that the Closings shall occur as set forth in the Projected Closing
Schedule. However, the Parties acknowledge and agree that the Projected Closing
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