CC RESOLUTION 801RESOLL`PIOII 1�0. 801
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RESOL?'I'IOI" OF T'iE CITY CO CIL OIL' T:IE CITY OF EL ShGLED0,
CALIFCR. IA, ACCE1`_'11 C T h TIIE, rA "i E'.I � ID OF FR_A ,IK A.
BOOTH FOF CERTAIT CIT-V OWTED REAL PROPERTY,
dd! Ei�EAS, t-ae City of E1 Sa -undo, California, nas rieretofore
instituted and is now prosecuting a general comprehensive proz_ram for
the restoration of tax deeded properties within said City to a
tax payint basis; and
IN-EREAS, pursuant to said procedure as so establlls,ied said
Council has caused to be liven and publisheo a notice of intention
to sell the interest of said City in certain of sucn tax deeded
parcels, whit] -i said notice is designated as "IJotice No. Six Ic
of Intention to cell City of tl Segundo Owned Real Property and
Invitint, aids or Uffers Tnerefor. ", and which said notice was
published in tree E1 Se; undo 'Iernld in the issues of I'v,ay l0rn,
17th and Goth, 1u45; and
WHEREAS, responsive to said notice the bid hereinafter
specifically mentioned for the property rereinaiter descr bad was
filed, and has been duly considered by tuis Council; and
41'11.RhAS, this Council has reacned a aecision iiitn referer_ce
to tla solo of sald property;
i10.u, 1 a_E IT RESOLVED by the City Council of t`,_e
City of El ae_unao, as fo1]ows:
First: i qt uhe hart'cular property vfticn is t.ie sun,ect
of this resolition ono, cne sale ,,,e,eIn contemplated, -s located
in tre City of E1 Se,_unao, County of Los Am-eles, State of California,
and is described as follows, do -wit:
Lots 37 and 38, ;flock 10, El Set.undo, as per map
recorded in L,))k 1E, Pa „e 69 of saps, hecords
of Los A ales County.
Second: That it would be for tr_e best interest of said pity
to accept t,1e bid hereinafter specifically referred to in the sum
of 4350.00 for each of the above parcels of property.
Tnird: Tnat the bid Of Frank A. 3ooth, hereinafter called
the ourcnaser, to purchase by good and sufficient deed with policy
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Of title insurance from said City for t'_ie sum of 8350.00 each
parcel, or a total sum of yp700.00, payable in installments wiunin
the time and upon t.te terms anal conaitions nereinafter stated,
be and t,ie ssrno is iereby accepted.
Fourth; That t,�e sa:d acceptance of said bid and the sale
nerein made by virtue of this acceptance t�,ereof are so accepted
and made subject to t e followinf, conditions;
1. `lhe terms and conditions of said ".°otice i,o. Six iu of
Inuention to Sell City of hl Segundo Owned Heal Property and 1nv1t1n0
Bids or Offers Tnerefor. ";
2. That the said purchase price for said real property to
be so conveyed as above stated is payable and s:,ail be paid as follovvs;
4175.00 upon execution and delivery of the contract of sale nereinafter
referred to and the balance of said purchase price, to;_etrer with
interest on the unpaid principal amount at the rate of 7po per annum
from date of said contract of sale, principal and interest payable
in installments as follows; 447.80 or more, and interest on the
unpaid principal balance oil t,,-re 6tti day of N.arch, 1946, and :p47.72
or more, and interest on ti.e unpaid principal balance on t:ie 6th
day of April, 1946, and on the 6th day of each and every month
t,iereafter until tre 6th day of January, 1947, when the entire
balance due on the principal and interest becomes due ana oayable.
Fifth; Teat t e ourcrnaser, within ten days from and after
written notice of t?e acceptance of said bid nereby made, tot7etner
wit- notice t -at the said contract of sale nas been prepared and is
ready to be executed, sriall execute and deiiver the required contract
of sale and purchase agreement containing furt_ier usual provisions
included in the usual forrj of sale and *,urc_ ase agreements as printed
by tue Title Companies of Los AnI-,eles County, and approved by the City
Attorney or Special City Attorney, and teat if such pure..aser fails
to do so, tnen and in that event t:e said City, at the option of the
City Council thereof, s.lall be relievea of its obli,ation to aster
into said contract of sale and to convey c,ereunder, and the amounts
theretofore pa:d or derosited on said property or wit: said bid, shall
be forfeited to said City as full and liquidated dama�•es, and said City
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Shall thereupon be free and without liability to Salo successful
bidders, to sell said property zo any other urcheser.
Sixth: �irrat t-le Tdayor of tha City of hi Seizundo is nereby
authorized and instructed to execute in the natne of said City and
on its behalf the said contract of sale in form approved as
aforesaid, and tae City Clerk is '.ereby authorized and instructed to
attest tree same and affix the corporate seal of said City thereto
and to deliver said contract of sale to said purchaser upon receipt
by said Clerk for said City of said initial pa yment of 4175.00
and the deliver, to said City Clerk for said City of a like auplicate
of said Contract of tale executed by said purchaser; and taat the
said DAyor and City Clerl are _iareby furt er authorized and instructed,
upon the paytrent 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 sand purchaser a quitclaim dead of said real property,
topetr.er with a policy of title insurance snowir -L said property
vested in tae Cit; of El aeziundc.
Seventh: That the bid of said lurchaser, above referred to,
be placed on file in t.ie office of the City Cler": of said City,
and t.e said bid and said "notice ho. Six L of lntention to Sell
City of -zl dec,undo (honed Real Property and lavitin, olds or Ui fers
Tnerefor.", are hereby referred to and by this reference expressly
incorporated ierein a..d made a part ,tereof'.
E1 —Dth; 'i at tr_e City* Clerk shall certify to the passaEe and
adoption of rhi: resolution; shall cause zne ori,inal of the same
to be entered in tue book of resolutions of said City of Ll Se_undo,
and shall maize a .rir_uLe of t_,e passa<<. and adoption t ereof in tae
records of t_ e procecdinr,s of t .e said City Council o;' saiu Cizy,
in the rinutes of t-e vaetin�, at %I iica tine sar�ia is passed and anoptad.
Passed, approved and adopted, this utr, dam- of 1'ebrua,ry, 14,46.
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lay �or oi'- � nZ �it4 y
17Urz,
California.
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STATE OI'' CALIFt3AT�IA )
COUI'TY Ob LOS AI' ;ELLS ) ss.
CITY Ob EL SEOti1,D0 )
I, VICTOR L. `r eCAR'I`IY, City Clerk of the City of r�l tee, undo,
hereby certify t_st t e £ ,)re,,oinL, resolution was adopted by the
Council of twee City of El Segundo, si`,ned by the .u.ayor and
attested by the City Clerk at a regular meeting thereof held on
the 6th daIT of February, 1946.
That said resolution was adopted by the following, vote:
AYES: Councilmen &esser, Peterson, Skelley, Thompson and Mayor Selby.
NOES: Councilmen None.
AI3SEI T: Councilmen None, n
(SEAL)
L`1 oegunuo, Ua
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