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CC RESOLUTION 780RESOLUTION NO. 780 RESOLUTION OF THE CITti COU11CIL OF THE CITY OF EL SEGUP'DO, CALIFORNIA, ACCEPTING THE TIME PAYTM T BID OF ALBERT E. DICKETTS FOR CERTAIN CITY OWNED REAL PROPERTY. WHLREAS, the City of El Segundo, California, has heretofore instituted and is now prosecuting a general comprehensive program for the restoration of tax deeded properties within said City to a tax paying basis; and WFEREAS, pursuant to said procedure as so established said Council has caused to be given and published a notice of intention to sell the interest of said City in certain of such tax deeded parcels, which said notice is designated as "Notice No. Six N of Intention to Sell City of El Segundo Owned Real Property and Inviting Bids or Offers Therefor. ", and which said notice was rublished in the E1 Segundo Herald in the issues of May 10th, 17th and 24th, 1945; and WHEREAS, responsive to said notice the bid hereinafter specifically mentioned for the property hereinafter described was filed, and has bEen duly considered by this Council; and 'N- EREAS, this Council has reached a decision with reference to the sale of said property; NCr9, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF TIM CITY OF EL SEGUNDO, as follows: First: That the particular property which is the subJect of this resolution and the sale therein contemplated, is located in the City of El Segundo, County of Los Angeles, State of California, and is described as follows, to wit: Lots 60 and 61, Tract 2540, as per Book 25, Page 30 of Naps, Records of Los Angeles County. Second: That it would be for the best interest of said City to accept the bid hereinafter specifically referred to in the sum of $550.00, as follows: Lot 60, Tract 2540 . . . . . . . . . . . . . $300.00 Lot 61, Tract 2540 . . . . . . . . . . . . . 250.00 1. ��L Y�GG'i l6l Third: That the bid of Albert E. Dicketts and Mae L. Dicketts, husband and wife, as joint tenants, to purchase by good and sufficient deed with policy of title insurance from said City for the sum of $550.00, payable in installments within the time and upon the terms and conditions hereinafter stated, be and the same is nereby accepted, and all other bids on said property, or any part thereof, are hereby rejected. Fourth: That the said acceptance of said bid and the sale herein made by virtue of this acceptance thereof are so accepted and made subject to the following conditions: 1. The terms and conditions of said "Notice No. Six M of Intention to Sell City of E1 Segundo Owned Real Property and Invit =ng Bids or Offers Therefor. "; 2. That the said purchase price for said real property to be so conveyed as above stated is payable and shall be paid as follows: $175.00 upon execution and delivery of the contract of sale hereinafter referred to and the balance of said purchase price, together with interest on the unpaid principal amount at the rate of 7% per annum fron date of said contract of sale, principal and interest payable in installments as follows: $31.25 or more, and interest on the unpaid principal balance on the 3rd day of November, 1945, and on each and every month thereafter until the 3rd day of October, 1946, when the 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, together with notice tnat the said contract of sale has been prepared and is ready to be executed, shall execute and deliver the required contract of sale and purchase agreement containing the further usual provisions included in the usual form of sale and purchase agreements as printed by the title companies of Los AnSeles County, and approved by the City Attorney or Special City Attorney, and that if such purchasers fail to do so, than and in that event the said City, at the option of the City Council thereof, shall be relieved of its obligation to enter into said contract of sale and to convey hereunder, and the amounts theretofore paid or 2. 1."-' , 0 deposited on said property or with said bid, shall be forfeited to ..d City as full and liquidated damages, and said City shall thereupon be free and without liability to said successful bidders, to sell said property to any other purchaser. Sixth: That the Mayor of the City of El Segundo is hereby authorized and instructed to execute in the name of said City and on its behalf the said contract of sale in form approved as aforesaid, and the City Clerk is hereby authorized and instructed to attest the same and affix the corporate seal of said City thereto and to deliver said contract of sale to said purchasers upon receipt by said Clerk for said City of said initial payment of $175.00, and the delivery to said City Clerk for said City of a like duplicate of said Contract of Sale executed by said purchasers; and that the said Mayor and City Clerk are hereby further authorized and instructed, upon the payment to said City of the full sum of all amounts payable to said City under said contract of sale to execute, attest, seal and deliver to said purchasers a quitclaim deed of said real property, together with a policy of title insurance showing said property vested in the City of El Segundo. Seventh: That the bid of said purchasers, above referred to, be placed on file in the office of the City Clerk of said City, and the said bid and said "Uotice No. Six IBS of Intention to Sell City of E1 Segundo Owned Real Property and Inviting Bids or Offers Therefor. ", are hereby referred to and by this reference expressly incorporated herein and made aFart hereof. Eighth: That the City Clerk shall certify to the passage and adoption of this resolution; shall cause the original of the some to be entered in the book of resolutions of said City of E1 Segundo, and shall make a minute of the passage and adoption thereof in the records of the proceedings of the said City Council of said City, in the minutes of the meeting at which the same is passed and adopted. Passed, approved and adopted, Ulf-y ler 30 this 3rd day of October, 1945. yor of the Cit f El Segundo, California I "J, i STATE M CALIFORNIA ) COUNTY OF LOS ANGELES ) as CITY OF EL SEGUNDO ) I, VICTOR D. MCCARTIIY, City Clerk of the City of El Segundo, hereby certify that the foregoing resolution was adopted by the Council of the City of El Segundo, signed by the Mayor and attested by the City Clerk at an adjourned regular meeting thereof held on the 3rd day of October, 1945. That said resolution was adopted by the following, vote: AYES: Councilmen: NOES: Councilmen: ABSENT: Councilmen: (SEAL) 4.