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CC RESOLUTION 804t RLS OL,_ TI O1, YO. £304 C1 `S'Y C DI PiC3 S,, 01' C 7 Y OF EL SEGLP:DO, CAL1F'0r. "IA, ACCEFTI1,G T! d T11',E iA` bE11!T :SID OF FLOYD CARR FOR CERTAIN, CITY Chdi'ED R_AL PROPER v- A,D REJisCT11_G ALL 0,' IER �!DS. '1'F 'Er1S, the City of El ae undo, California, -gas _le retofore instituted and is now prosecutinz a -er_aral comprehensive pro,ram for the restoration of tax deeded -'roparties witnin said City to a tax pa, in�_ be s is; and CVTtEftE�3, nursuant to said procec­re as so established said Council has caised to be Liven and cublisned a notice of intention to sell the interest of said City in certain of such tax deeded parcels, which said notice is designated as "ldotice 1,o. Six M of Intention to Sell City of El Sef,undo Owned Real Property and Inviting Lids or Offers Therefor, ", and which said notice was publisned in the hl Segundo herald in tfie issues of May 10th, 17th and 24VA, 1;45; and WTEREAS, resporrslve to said notice the bid hereinafter specifically mentioned for the property hereinafter described was filed, and nas been duly considered by tnis Council; and WTiEREAS, this Council has reached a decision with reference to the sale of said property; NOW, TI_ERnF'ORv,, BE IT RESOiVED by the City Council of the Citv of E1 Segundo, as follows; First; That the particular property which is the subject of this resolution ana the sale therein contemplated is located in the City of El Segundo, County of Los Anl,eles, State of California, and is aescribed as follows, to -wit; Lot 50, 11ract 2540, as per Book 25, Fa3e 30 of luaos, tiecords of Los Angeles County. Second; That it would be for the best interest of said City to accept ttie bid ereinafter specifically referred to in the sum of w425.00 for the above described parcel of property. Third: That trie bid of Floyd Carr on oehalf of Richard Carr and Elsie Carr, husband and wife, as ,joint tenants, hereinafter called the purchasers, to purchase by good and sufficient deed with policy 1. 6' Of title insurance frOK said City for the sum of Y425.00, payable in installments within the time and upon the terms ana conditions hereinafter stated, be and the same is hereby accepted, and all other bids for Sala parcel of property are nereby rejected. Fourth; chat the said acceptance of said bid and the sale rerein made by virtue of this acceptance thereof are so accepted and made subject to the iollowinC conditions; 1. Pie Verms and corditions of said "hotice Io. Sly of Intention to Sell b't JI Ll Se.undo armed steal Property and lnv tin` Dids or oilers 1_00010r." ; 2. "! Vile Sala ourci ese wrDca for sated real property to be so convcNed as a:ove stateu is payable and shall be paid as follows; 1110.00 upon execution and delivery of the contract of sale - ereinafter referred to and do balance of said part ase price, tohet,er with interest on the unpaid principal amount at t,ie rate of 7 � per annum from 0-06 of said contract of sale, principal end interest payable in installments as follows; X28.70 or more, and interest on the unpaid principal balance on the 20th day of March, 1946, and 426.63 or more, and interest on the unpaid principal oalence on the 20th day of April, 1046, and on the 20th day of each and every month t:ereafter until tie 20th day of January, 1947, when the entire balance due on tie principal and interest becames due and payable. Fifth; That the purclasers, within ten days from and after written notice of the acceptance of said bia nereoy made, together with notice that tree 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 convainin,E tie further usual provisions included in the usual form of sale and purcnase aCreements as printed by t4e Title Companies of Los AnCeles County, and approved by the City Attorney or Special City Attorney, and that if such purcnasers fail to do so, t_ien and in that event the said City, at the option of toe City Council thereof, shall be relieved of its Obligation to enter into said contract of sale and to conve, nereunader, and toe amounts theretofore paid or davOsited on said property or with said bid, stall he forfeited to said City as full and liquidated damages, and said City Shall tnereupon be free and without liability to said successful 2. bidders, to sell said property to any of er pureneser. Sixth; rnat the Layor of the City of sl Segundo is nereby authorized and rztructaa to execute in toe name of said City and on its benalf toe said contract of sale in form approved as aforesaid, and the City Clerk is nereby authorized and 'instructed to attest the same and affix t.a corporate seal of said City tcereto and to deliver Sala contrcct of sale to said nurcoaserjQon receipt by said Clerk for said City of said initial payment of 4110.00 and tie delivery to said City Clerk for said City of a like c plicate of said Contract of 6vle executed by saiu � YrchLsers; and Gaut tae said mayor ana 7ity Clorr are nereby fortLer authorized and instructed, upon the payment to sa V City of tie full Sam of all emountz parable to said City rnwer sa'd contract of solo to e._ecate, attest, °asp and deliver to sa a nirc isers a quitclaim need of said real property, togat__er wits e policy of title insurance showing said property vested in the City of nl de`undo. Seventh; That the id of said purchasers, above referred to, be placed on rile in tie ofTice of the City Clerk of said City, era the se'd bid and said "hotice Do. Six L of Intention to bell City of tl Sep undo Owned heal Property and Invitl% bias or Offers `tnerefor. ", are nereby referred to anu by to s reference expressly; incorporated herein and made a part hereof. Ei,hth; That the City Clerh shall certify to toe nassa e and adoption of this resoi -tion; s call cause the or i inal of t _e sere to be ertered in toe took of resolutions of said CiL7 of Ll ou_undo, and s -all nave a minute of tie rassa_e and adoption thereof in the records of the proceedin,_s of tie Baia City Council of said City, in the minutes of toe neetin" at which the same is passed and adopted. Passed, approved and adopted, this 20th day of February, 1046. 3. Mayor of the cuts o Se`undo, California. STATE C', CALlPORi'IA COLl,gY 01, L,,, -S AUCELES CITY OF EL SLG[1YD0 I, VICTOR J. l cCART Y, City Clari: of t Le City ox E1 ae� Undo, hereby cert_;y teat tie fore,,oln- rasol�ition was adopted by tr_e Council of t,e ;Jty of rI ae.-urdo, sl_red by the ,,_ayor and attested by tiie City Cleric at a regular mcetin,_ t,lereof held on tf.e 20tn day of b'ebrusry, 1946. That saic/resoli tion was adopted by t,ie follotiv:n vote; AYES; CoLncilmer Hesser, Peterson, Skelley, Thompson and Mayor Selby. I,CLS; Counc -l1�en None, ALSE_I; Cocrcil,jen None. A i Clar= of n7 -- (SEAL) 4.