AGREEMENT FOR PURCHASE AND SALE OF A PERMANENT
STREET EASEMENT AND ESCROW INSTRUCTIONS
APN's 496-220-1 Gs & 496-220-17s
City Project No.: PW00942
This Agreement for a Permanent Street Easement and Right of Way (Agreement) is entered into by and between E. & J. GALLO WINERY, A CALIFORNIA CORPORATION, (GALLO), (Owner), without regard to number or gender, and the CITY OF FRESNO, a municipal corporation (City) .
1. The real property which is the subject of this Agreement, hereinafter "Subject Property", is a Permanent Street Easement to facilitate the widening of North Fowler Avenue, South of East Clinton Avenue, situated in the City of Fresno, County of Fresno, State of California, being approximately 21,211 square feet in size, within Assessor's Parcel Numbers 496-220-16s, & 496-220-17s, as described on Exhibit "A" and depicted on Exhibit "B", attached hereto and incorporated herein by reference.
2 Owner agrees to grant to the City a permanent street easement and right-of way, (Easement) for public street purposes over, under, through, and across the Subject Property, free and clear of all liens, encumbrances, and restrictions of record.
3. City shall pay Just compensation of NINETY-NINE THOUSAND, FOUR HUNDRED DOLLARS ($99,400) for the Easement, including cost to cure damages, benefits and/or severance damages to the remainder, if any, as described on Exhibit "C", attached hereto and incorporated herein by reference, for the Subject Property.
4. Clause 3 above may include payment for the replacement of landscaping and/or irrigation facilities that are within the area being acquired for this project and the irrigation lines will be removed by the City in order to proceed with the construction of the project. City will remove such lines and landscaping and Owner agrees not to seek additional compensation arising from such removal.
5. The Effective date of this Agreement shall be upon its duly authorized execution by the City and the payment of NINETY-NINE THOUSAND FOUR HUNDRED DOLLARS ($99,400) just compensation to the Owner.
6. Owner represents and warrants that it holds fee title to the Subject Property, and has the authority to enter into the Agreement herein made.
7. Owner agrees to hold the City harmless and reimburse the City for any and all losses and expenses as to the Subject Property by reason of any claims to compensation by any past or current owner or tenant of the said Subject Property held by any tenant of the Owner.
8. The sale shall be completed through an External Escrow to be opened at Placer Title Company located at 7700 N. Palm Avenue, #101, Fresno, CA 93711, Attention: Adrienne Ripley, email [email protected]. Said escrow shall be opened upon the following terms and conditions, and the Owner and City by their signature to this Agreement make this paragraph their escrow instructions:
1 EXHIBIT C
APPRAISAL SUMMARY
Area of Acquisition:
L and = 20,476 SF or 0.4701 acres @ $115,870/ac $54,470.00 A djusted To $54,500.00
Severance Damages:
R eplace 1,300 LF of oleanders $26,358.00
Rebuild dirt farm road $10,000.00
R emove 670 vines $ 8,500.00
T otal $44,858.00
A djusted To $44,900.00
T
OTAL COMPENSATION
Area of Acquisition $54,500.00
Severance Damages $44,900.00
B enefits $ 00.00
T OTAL $99,400.00