CC RESOLUTION 764` ,1, I ,
RESOLUTIOI; T10. 764
RESOLLTICId OF T'rds CITY COUNCIL OF T_i CITY
Ole EL aEGUNDO, CALiPOR' iA, ACCEYT1i,'G TriE
T1,1, i'AY'.E!,T ,jID OF 1lILLiAL 1'1. _IAhCOC'K Alm
FRET E. KE T,,EY r'CR CERTALI C1'lY 01,7_4ED REAL
P iOPI;RTY.
V1 EI -EAS, the City of Ll Segundo, California, has ,cretofcre
'nstitUted and is now prosecuting a general con�pre.,ensive pro-
gram for t,o restoration. of tax deeded properties within said
City to a tax paying basis;
AhD, W:,EREAS, pursuant to said procedure as so establisried,
said Council °gas caused to be liven and ,oublisl;ed a notice of
intention to sell t,.e interest or said City in certain of such
tax deeded parcels, wh1c,1 said notice is designated as «T;otice
Ilo. Six M of Intention to Sell City of El Oegundo Owned Real
Property and Invitin.- bids or Oifcrs Therefor. ", and woich said
notice w s publis,ed in the El z�el;undo Herald in the issues of
Lay 10th, 17th and 24th, 1945;
AS�D, `i LREAS, responsive to said notice the bid hereinafter
specifically mentioned for the property _oreinafter described
was filed, and nns been duly considered b,, this Council;
A,i , W ._z;AS, t its Council has reached a decision with
reference to the sale of said property;
Fa:, T'�.4l,FORL, BE IT R-33_vEr, L' T'r cl�r coz�.clL of TILE
CIT Or EL SEGU?�DO, as follows:
first: That the particular property w.?ich is the subject
of this resolution and tie sale t'erein contemplated, is
located in the City of E1 Segundo, County of Los An,eles, State
of California, and is described as follows, to wit:
N 145 ft and VI 20 ft of S 1-0 ft of Lot 2, Block 106,
Ll Segundo Tract, as per nook 20, Pales 22 -23 of i,,aps,
Records of Los An�.eles County.
Second: That it would be for the best interest of said City
to accept t e b-Ld Hereinafter specifically referred to in the
aura o1' ,,' E800.00,
Third: That the bid of William IN. Hancoc'_: and i^md E. Kenney
to purchUse by good afld sufficient deed with policy of title
1.
insurance from said City for the su.'i of 0800.00, payable in
installments witi.in ti--e, time and upon the terms and conditions
hereinafter stated, be and the sarue is hereby accepted, and all
ot'ror bids on said property, or any tart t.iereof, are itereby
rejected.
Fourth: That the said acceptance of said bid and the sale
herein made by virtue of this acceptance thereof are so accepted
and :Wade subject to the followInI-, conditions:
1. The terms and conditions of said "Notice No. Six M
of Intention to Sell City of E1 SeUundo Owned Real Property and
InvitirC Bids or Offers Therefor.";
2. That tie said purchase price for said real property
to be so conveyed as above stated is pa,table and shall be paid
as follows: 4?'200.00 upon exec,.tion and delivery of the contract
of sale hereinafter referred to ano the balance of said purchase
price, to.etrer wIti interest on ti,e unpaid principol amount
at tie r2te of 7o per annum from date of said contract of sale,
principal and interest payable in _installments as follows:
yY50.00, or more, and interest on the unpaid principal balance on
the 5th day of Aucust, 1945, and each and every month thereafter
until the 5th day of July, 1946, when t'_2e entire balance due on the
principal and interest becomes due and payable.
Fifth: That the purchasers, within ten days from and after
written notice of the acceptance of said bid hereby made, togetner
wit: notice treat the s,jid contract of sale has been prepared and
is ready to be executed, s'rrall execute and deliver the required
contract of sale and nurchase a;,reefaent containing the further
usual provisions included in t -.e usual fora, of sale aid curc iese
agreements as printed by tee title companies of Los An"eles County,
and approved by the City Attorney or Special City Attorney, and
that if such purchasers fail to do so, then and in that event
the said City, at tae option of the City Council thereof, shall
be relieved of its obligation to enter into said contract of sale
and to convey -W reunder, and Lae amounts theretofore paid or
2.
ds,�,osited on said property or vi-tu said bid, shall be forfeited to
said City as full and liquidated da=nayes, and said City shall
tiereupon be free and without liability to said successful
bidders, to sell said property to any otter purchaser.
Sixth: Tnat the Mayor of t-ie City of El Se3undo is hereby
authorized and instructed to execute in the name of said City
and on its be alf the said contract of sale in form a iroved as
aforesaid, and tie City Clerk is ] hereby authorized and instructed to
attest tae same and affix t'm corporate seal of said City tr_ereto
and to deliver se d contract of sale to sa d pure.iesers upon
receipt by said Clerlr for said ',ity oi, said 1ritial payment of
ti2 �00.00, and the delivery to said City Clcr'_ for said City of a
like duplicate of said Contract of Sale executed by sad parciiasers;
and t.at the said Mayor and City Cleri, are aereb furt,ler authorized
and instructed, upon the payment to saia City of the full sum of
all amounts payable to said City unCer said contract of sale to
execute, attest, seal and deliver to said purcrasers a quitclaim
deed of scid real property, toq,ether with a policy of title
insurance showin[f, said property vested in the City of El Sebundo.
Seventh: T'nat tae bid of said purcliasers, above referred
to, be olaced on file in the office of the City Cler'c of said
City, and the said bid and said "i,otice 11o. Six 11 of lnte:tion to
Sell City of '�,1 Segundo Oamed Real Property and Ir,vitinL, lds or
Offers T-ierefor. ", are hereby re_'crred to and by this reference
exr;ressly incorporated herein and made a part ..ereof.
Eim,ht:l: That toe City Cler_f shall certify to the uassa`e
and adoption of this resolutiion; s'nall cause tie orl,,inal of tae
sane to be o'ntered L, the book of resolutions of said City of
El Se undo, and shall mate a minute of the passeEc and adoption
thereof in tae records of ti o nroeecdini -s of t .e said City
Council of said City, in t,ie minutes of tae rceti% at vm3 ch
3,
45�
the sgnc is passed aid adopted.
Passed, a,,proved and adopted, this 5t'i day of Jnly, 1i ±45.
ldayor of tha ity be�undo,
California.
STATE OF CALTFOE -IIA )
C OL`ITT'I OF L ,)S Ai,C1SLES ) s s
CITY O£ EL SFOUND0. )
I, VICTOR D, KcCART'Tjr, City Cler1_ of tue City of El aegundo,
'aereby certify that t "e for(,-oln� resolution was adopted by
the Council of the City of El SGEundo, signed by the 2layor and
attested by the City Clerl. at a ro.,ulsr mcetin,; thereof held
on the 5th day of Jul;, 1945.
That said resolution was adopted b; the followin, vote:
AYES: Councilmen:
DOES: Councilmen:
ABSEP:T: Councilmen:
(SEAL)
4.