1994 AGN AUG 16 I13 - Laserfiche WebLink

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REAL ESTATE SALES CONTRACT and Escrow Instructions ■ THIS CONTRACT is made and entered into as of this__ day of 1994, by and between the CTTY OF COLTON, a California Municipal corporation, as Seller, and THE ATCIUSON, TOPEKA AND SANTA FE RAtLwAY COMPANY, a Delaware Corporation as Purchaser. ■ Seller hereby agrees to sell and convey by Grant Deed to Purchaser all the following real estate, situated in San Bernardino, San Bernardino County, California described in Exhibit "A" attached. ■ The purchase price is the sum of ONE DOLLAR AND TwENTMVE CENTS ($1.25), per square foot (on 133,093 square feet of land), less SEVENTY CENTS- ($0.70) per square foot for land encumbered by the easement (4,382 square feet) for ingress, egress .and waterline purposes, as reserved in said Exhibit "A", payabfe in cash, or by electronic wire transfer within two working days after the close of escrow. Total area of square -footage is to be determined by a stWvey prior to closing. ■ Seller will famish to Purchaser at Purchaser's expense a Title Insurance Policy showing title vested in the Purchaser and that Seller is conveying title free of liens, encumbrances, easements, rights and conditions except as follows: Easements and Rights of Way of record, Easement of ingress, egress and waterline purposes, as reserved to CITY OF COLTON in said Exhibit "A" and all water rights of CITY OF COLTON. ■ Seller will retain in the title transfer document all subsurface Water Rights. ■ Seller will retain by reservation in the title transfer document a Fee interest for the purpose of Water Well Site, together with the right of ingress and egress for the repair and maintenance of the same as long as said Water Well Site shall exist. In the event the Water Well Site, ceases to be used for mu purpose, is abandoned, or is capped and/or plugged then the Fee interest reserved will become null anu void and shall absolutly revert and be released to Purchaser, its successor or assigns, and Seller shall at the request of Purchaser, its successor or assigns, issue a release without any costs to Purchaser, ■ Seller will retain by reservation in the title transfer document a Non-exclusive Easement for Waterline purposes serving Water Well Site, together with the right of ingress and egress for the repair and maintenance of the same as long as said Waterline exist. In the event the waterline ceases to be used for said purpose, is abandoned, or becomes unusable then the Easement will become null and void and shall absolutly revert and be released to Purchaser, its successor or assigns, and Seller shall at the request of Purchaser, its successor or assigns, issue a release without any costs to Purchaser. ■ The expense of any land surveying to be performed will be paid by the Purchaser. ■ The Escrow Agent and Title Insurer shall be mutually agreed upon by Purchaser and Seller prior to opening of Escrow. ■ Property taxes, shall be prorated as of the close of escrow. ■ Any outstanding bonds or assessments on the property shall be paid by the Seller, prior to closing. ■ Any existing mortgage indebtedness against the property is to be paid by the Seller, prior to closing. ■ Possession of the property is to be delivered to the Purchaser upon close of escrow. ■ Escrow expense shall be paid by the Purchaser. ■ All Taxes associated with the transfer of this Real Estate shall be paid by the Purchaser. pep 1 of 2