Loading...
CC RESOLUTION 792RESOIi TIOh NO. 792 RESOL: TIOI: OF TnE CLT'Y COLNCIL OF THE CITY OF EL SEGUNDO, CALIFORNIA, ACCEPTI?�G THE TIME PAYKEI IT BID OF C. E. IEhNEY FOR CERTAII CITY ONIM REAL PROPERTY, Ai�D REJECTIXG ALL 01FIER BIDS. NJ.EREAS, TTUE City of E1 Segundo, California, has heretofore instituted and is now prosecuting a general comprenensive 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 E1 Segundo Owned Real Property and Inviting Bids or Offers Therefor. ", and which said notice was published in the E1 Segundo herald in the issues of May 10th, 17tn and 24th, 1845; and W.EREAS, responsive to said notice t.ie bid 'hereinafter specifically mentioned for the property hereinafter described was filed, and has beer duly considered by this Council; and �,T:EREAS, this Council has reached a decision with reference to the sale of said property; iuON, i:LR FORE, BE IT RESOLVED by the City Council of the City of El Se�,undo, 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: Lot 30 Block 43, E1 Segundo Tract, as per map recorded in Book 20, Pages 22 -23 of Maps, Records of Los Angeles County. Second: That it would be for the best interest of said City to accept the bid nereinafter specifically referred to in the sum of $325.00. Third: That the bid of C. E. Kenney and Anna Kenney, husband and wife, as joint tenants, hereinafter called the purchasers, to purchase 1. by good and sufficient deed with policy of title insurance from said City for the sum of $325.00, payable in installments within the time and upon the terms and conditions hereinafter stated, be and the one is hereby accepted, and all other bids on said real 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 h ereof are so accepted and made subject to tine following conditions: 1. The terms and conditions of said "Notice No. Six M of Intention to Sell City of El Segundo ONned Real Property and inviting Sids 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: $90.00 upon execution and delivery of the contract of sale rereinafter referred to and the balance of said pureness price, together with interest on the unpaid principal amount at the rate of 7% per annum from date of said contract of sale, principal and interest payable In installments as follows: $21.40 or more, and interest on the unpaid principal balance on the 16th day of February, 1946, and $21.36 or more, and interest on the unpaid principal balance on the 16th day of March, 1946, and on the 16th day of each and every month t— ereafter until the 16th day of December, 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 that the said contract of sale has been prepared and is ready to be executed, shall execute and deliver the required contract of sale ardpurchase agreement containing further usual provisions included in the usual form of sale and purchase agreements asprinted by the Title Companies of Los Argc,les 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 tr.e said City, at the option of the City Council thereof, shall bo relieved of its obligation to enter into said contract of sale and to convey hereunder, and the amounts theretofore paid or denosited on said property or with said bid, shall be forfeited to said City as full and liquidated damaLes, and said City 2. snall thereupon be free and without liability to said successful bidders, to sell said property to any ot:ar purchaser. Sixth: That the N,ay *or of the City of El SeLundo 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 tae City Clerk is nereby authorized and instructed to attest the same and affix the corporate seal of said City hereto and to deliver said contract of sale to said purchasers upon receipt by said Clerh for said City of said initial payment of w90.00 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 illiayor 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 tie City of El Seiundo. Seventh: 7.,;)t tie bid of said _aurc lasers, above referred to, be placed an file in the office of the City Clerk of said City, an6 the said bid and said "ITOtice PIo. Six Ni of Intention to Sell City of El aef,undo Owned Real Property and Inviting Bids or Offers therefor. ", are hereby referred to and by this reference expressly incorporated herein and made a part hereof. Eighth: That the City Clerk shall certify to the passage and adoption of this resolution; shall cause the original of the same to be entered in the book of resolutions of said City of E1 Sebundo, and shall make a minute of the passage and adoption thereof in the records of t_ie proceedinr-s of the said City Council of said Cit1, it the minutes of tre meeting at which the same is passed and adopted. Passed, approved and adopted, this 16th day of January, 1946. 3. �Cayor o3 e e ^un o California STATE Ob CALIFORNIA ) COLS:TY Oi LOS Ai GyLES CITY OF EL SEGUMO ) I, VICTOR L. MC CARTaY, City ClerIx of kne City of El Segundo, hereby certify tnat the foregoing resolution was adopted by the Council of the City of El Segundo, siLned by the I4.ayor and attested by the City Clerk at a regular meeting thereof held on the 16th day of January, 1946. That said resolution was adopted by the following; vote: AYES: Councilmen: Hesser, Peterson, Skelley, Thompson and Mayor Selby. NOES : Coune 1 lmen., None. ABSENT; Councilmen: None. ity Clerk of the E1 Segundo, California. (SEAL 4.