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CC RESOLUTION 803Ru:S OL(.�1'I OI\T NO. 803 RhSOL'.1,ION OF T 1h CITY COTYCIL OI' T'E CITY OF EL SEGI'NDO, CALIFORi:lA, ACCEPTIIj^ 'i E TIJAE PAY!'E" RID OF JON. E. C'ADDEN FOR CERTAIY CITY MNED REAL PROP RTY. .VEREAS, the City of El Se,-_undo, California, has neretofore instituted and is now prosecuting a Leneral comprehensive prop- -ram for t;e restoration of tax deeded properties within said City to a tax payinf basis; and W- TER:AS, pursuant to said procedure as so established said Council has ca,�sed to be (,,iven and 12ublished a notice of intention to sell the interest of said City in certain of sucn tax deeded parcels, which saia notice is desil,nated as ffhotice No. Seven of Intention to Sell City of El Se;;undo Grand Real Property and Inviting; bids or Oi'iers Therefor.°, and which said notice was duly published in the El Se undo Herald in the issues of October 25th, h,ovember let and 8th, 1945; and ViEREAS, responsive to said notice t_ie bid nere-nafter specifically mentioned for t-ie property hereinafter described was filed and has been duly considered by this Council; and W _,REAS, this Council has reac ed a decision with reference to the sale of said property; NN'd, T_yR�FO��, i'E IT RsS-1VED, by the City Council of the City of El Se undo, California, as follows; First; That the particular property which is the subject of this resole tior_ ,rd tie sale t..arein contemplated, is located in the City of LI Uf undo, County of Los Angeles, State of California, and is described as follows, to -wit: Lot 19, Ploc_ 44, E1 Segundo Tract, as per map recorded in Book 20, Pages 22 -23 of Yaps, hecords of Los Angeles County. Second: That tie Lid of Joseph E. Gadden, a sin6le man, hereinafter called the purchaser, to purenase said property by quitclaim deed from the City of E1 Segundo for the srm of ;525.00, payable in installments within the time and upon the terms and conditions hereinafter stated, be and the same is hereby accepted. Third: That the said acceptance of said bid and the sale 1. q A *!- _ herein made by virtue of this acceptance tnereof are so accepted and made subject to the following conditions: 1. The terms and conditions of said "Notice No. Seven of Intention to Sell City of El Se,:undo Owned Real Property and Inviting L+ +ids or „Ayers Tnerefor.°; 2. That the said purchase price for said real property to be so conveyed as above stated is payable and stall be paid as follows: 4132.00 upon execution and delivery of the contract of sale hereinafter referred to and the balance of said urc'hase price, to,,,et!-,er with interest on ti'.e unpaid principal amount at the rate of 7% per annum froraoate of said contract of sale, principal and interest payable in installments as follows: i�35.bO or more and interest on the unpaia principal balance on the 13th day of March, 1946, and $35.72 or more, and interest on trie unpaid principal balance on the 13th day of April, 1946, and on the 13th day of each and every monti thereafter until the 15th day of January, 1947, wizen toe entire balance due on the principal and inter st becomes due and payable. Fourth: That tine ourcrraser, within ten days from ana after written notice of the acceptance of his bid hereby made, tooet')er with notice that the said contract of sale has been prepared and is ready to be execs :ted, shall execute and deliver the required contract of sale containing; tt e provisions in respect to r;ayrient as above set out, and containing the furt.cr usual provisions included in the usual form of ggreament of sale and purchase as printed by the title companies in Los Angeles County, and arproved by the City ALtorney or Special City Attorney, and that if such purchaser fails to do so, then and in that event trte said City, at the option of the Gity Council thereof, shall be relieved of its obli ,,ation to enter into said contract of sale and to convey nerennder, and the amounts t ^eretofore paid or deposited on said property or with said bid, shall be forfeited to said City as full and liquidated damaE-es and said City sriall thereupon be free, without liability to said successful 61ader, to sell said property to any otner purchaser. 2. Fifth: That the I+.a;;or of the City of ±�l Se,-undo is nereby authorized and instructed to execute in t:e name of said City and on its behalf the said contract of sale in form approved as aforesaid, and the City Clerk is r:ereby authorized and instructed to attest the sa.�ia and affix the corporate seal of said City thereto and todeliver said contract of sale to said purchaser upon receipt by said Clerk for said City of said initial payment of y7132.00, and the delivery to said City Clerk for said (,ity of a like duplicate of said Contract of dale executed by said purchaser; and that the said Mayor and City Clerk are hereby £urger authorized and instructed, upon the payment to said City of t:6 full s•,m of 9-11 amounts payable to said City under said contract of sale to execute, attest, seal and deliver to said ,,urc�asur a quitclaim deed of said parcel of real property, so paid in full, to se-d purchaser. Sixth: T.iot the bid of said nurchoser, hereinabove referred to, 'oa placed on file in t ,e o_Tice of the City Clerk of Sala City, and the said -a5c ar_a saira "..otice .:o. Never_ of` Intention to .,ell City of 2'.1 ae Lndo kAvned deal 1'ropert , and 1nvitln3 bids or Offers Therefor.", are nez,.b7 referred to and b- tr_is reference expressly incorporatea herein and made a part nereof'. Seventh: T,at tt:a City Clbr1_ s fall certify to the passate and adoption of this resolution; shall cause t_,e ori, inal of the same to be cTrtered it the nook of resolntions of said City of El Se undo, and shall make a m nute of t.e passa,e and adoption toereof in the records of t e proceed, n s of t.e City Council of said City, in the minutes of tue —actin,, at whicr� the same is passed and adopted. Passed, acproved and adopted this 13th dad* of Iebr, -nary, 1S ^46. 3. ayor of t he =may of Sa ,rdo, California. Sm'ri,y l C FO' 'AA ) CAP' Y �F A' h'Lda ) ss. C i IIY Or, EL I, TICTOR E. I cCARTJIF�, City Clem of the pity of El Sevundo, hereby certify tnat the fore, °,oing resolution was adopted by tr_e Council of the City of El Se, undo, signed by the hayor and attested by the City Clerk at an adjourned r6SUlar meeting t,iereof Meld on the 13th day of February, 1946. That sai ; res oluti on was adopted by the followinb, vote: AYES: Councilmen Peterson, Thompson and Mayor Selby. TOES: Councilmen None. AFSLYT: Councilmen Hesser and Skelley. ty Cl rk Cali nia• El Se „undo (SEAL) 4,