CC RESOLUTION 808RES0L_'T101' hO. 808
xEbOLT �j'IOT CF 'E CI T Y COL ��CIL OF T "E CI a7 OF' EL SES= T'NDO,
CALIFO,'T ]A, ACCEPT l i C TIE TI'��. FAY_,'.LT `_1' 1'iD OF LOUIS LATIE,
F'OR CERTAT"? CIT"T C4-- ED RExL PROPERT'T A' D REJECT'11 0 A1 OT ;ER
BIDS.
W EREAS, the City of El Se ,undo, California, has neretofore
instituted and is row prosecutinz, a general cormpreaensive uro_ram for
the restoration of tax deeded properties w1thin said City to a
tax paying basis; and
;J EEAS, oLrsi; art to srid orocec_ure as so establisl.ed said
Council nas caLsed to be ,iven and nublis ed a notice of intention
to sell t',e 'nterest of said City In certain of such tax deeded
parcels, w',ic Bata notice is desi,,nated as l'lotice Eo. Six ICI
of Intention to .,ell City of hl SeLundo Owned Real Yrocerty and
Invitin F_ias or Offers 1 er,for.", and w',ic -1 said notice was
published in t_ie —1 ae,undo _Icrald in t " Lssues of Ley 10th,
17th and 24th, 1545; and
'ERYAS, res,ons ve t: said notice t to bid )ere _natter
soecificaily _(entioned for the property aexeinafter described was
filed, and ias been_ duly* considered by tnis Council; and
J EhEAS, this Council has reached a decision wit-i reference
to the sale of said property;
POW, 9' RnA'ORr,, LL TT REbOLVED by the City Council of t,ie
City of E1 Se,unoo, as follows:
First: That the particular property which is the subject
of this resolution and the sale trierein contemplated is located
in the Cit,,T o El Se_undo, County of Los Ane.eles, State of California,
and is describeu as follows, to -wit.
Lot 7, L1ock 2L,, r,l SeGundo, as per map recorded in
Book 18, P,1e,e GJ of 'naps, Records of Los Arreles Gounty.
Second: Tr,st it would be for tie best interest of said Gity
to accept tr_e bid nereinafter specifically referrec to in the sum
of 4300.00 for the above described parcel of propert--.
Tnird: That t!.e bid of Louis Lane, a sin.-1e ran, nereinefter
called t',e rurcha,ser, to pure ijse by ood and suiiic_ent deed w7tn
policy of title ins L,rance from said City for t-ie srm of X300.00
1.
payable in instali -ents t.'(, time and upon zne ter?rs and cor!dltions
Hereinafter stated, said bid further proviain� tnat said property
may temporarily be occupied by a trailer, be and the same is _,ereby
accepted, and all ot_-r bids for said parcel of rrcperty are -iereby
rejected.
Fourth: `Pnat the said acceptance of said bid and the sale
herein made bv virtue of tiis acceptance thereof are so accepted
and made subject to t.e follcwin` conditions:
1. The terms and conditions of said ° botice ho. Six M of
Intention to Sell City of El oe`indo Owned Real Property and inviting
Bids or Offers Tnerefor.°;
2. That the said purchase price for said real property to
be so conveyed as above stated is payable and snall be paid as follows;
$75.00 upon execution and delivery of the contract of sale °iereinaftGr
referred to and the balance of said purchase price, toLether with
interest on t_e unpaid principal amount at tie rate of 7/�o per annum
from date of said contract of sale, principal ana _nterest pa- --able
in installments as follows; $20.50 or more, and interest on the
unpaid principal balance on t.e 20t'n dai- of Larch, 1046, and X20.45
or more, and - rterest on tie unpaid principal oalance on t-ie 20th
day of April, 1046, and on Vie 20tn day of each and every month
t ^ereafter until t.ie 20th day of Januany, 1047, when tie entire
balance due on the principal and interest becomes due and payable.
3. That the said use of said property as above set fortli
is .ranted onl,, temporarily and may be cancelled or revoked by the
Council at any time without cause and without notice; ar_o tr_at the
purchaser shall within ten days from the date hereof si,,n a copy
Of tnis Resolution, his sitnati :re to the sar;e beano his acceptance of t,,e
conditions as hereinbafore set t'orth; ana said Offer bean,_ ic-rt�aer occeptad
upon t_ie c orditi on t .at -Lie acceptance t -cre of s,iall not in any way
constitute a precadent set by t.is Council, tue same being, „ranted
because of tcia pecul -ar iacts in respect to the situation ierein involved.
Fifth: That the urc;ieser, w t.iin ten days from and af'tar
written notice of t'l,� acceptance of sa,a bid nereby made, to.-,ether
2.
wit'a notice tLiet t.e saia contract of sale has been preparea and is
ready to
oe
er:ecited,
s execute and aeliver tle
eatired
contract
of sale
ana
urcliase
p,-,reement containing, the furtner
usual
provisions
included in t',e usual form of sale and urc',ase a ,_rec, ants as printed
by the Title Companies of L ,s An,,el, s Court,,-, and approved o,' t.ie city
Attorney or Special City Attorney, and tnat if such purcnaser fails
to do so, then and in t-iat event t is said City, at t11e option of
t le City Council thereof, snail be relieved of 'its obl.,,,ation to enter
into said ccr.tract of sale and to cane;- ..ereunder, and the amounts
tner,tofore Paid or aeposited on said property or wit-,,l said 'bid, shall
be forfeited to said City as full and liquidated dariares, and said City
small t ereupon ce free and wit -lout liability to said successful
bidders, to sell said property* to any other purchaser.
Sixth; 'That tie :.iayor of the City of E1 Se undo is nereby
authorized a,d nstructed to execute in the name of said City and
on its behalf t e sa_d contract of sale it form approved, as
aforesaid, and t.ie City Clcr: -s nercb authorized and Instructed to
attest cne sameand a_fix tae corporate seal of said City tnereto
and to deliver sa`d contract of sale to said = ;urciaser upon receipt
by said Clc,rk for said City of said - nitial payment of 47b.00 and
the deliver,, to said City Cler,. for said City of a like duplicate
of said Contract of Sale executed by said purchaser; and trist tae
said Paay'or and City Clerk are hereby vurt ar authorized and instructed,
upon tie pa- *ment to said City of the full sum of all amounts uayable to
said City under said contract of sale to execute, attest, seal and
deliver to said purc.iaser a auitclaim deed of said real property,
to ether wit a policy of title insurance snowinr said property- vested
in the City of Ll ae undo.
Seventn: That L.ia bid of said purchaser, above referred to,
be placed on file _r t,-.e office of the City C1(-rk of said amity,
and t.:e said id and sa :d ° notice o. Six i. of intention to Sell
City of Ll ae unuo ounea teal Property and Inv-Ain, .'lids Cr ufters
Trnerefor.", are er-b,, rcferrea to and b t _s reference e, ressly
incorporated 'aeroin and made a cart _iereof.
J.
P
t t le C r ClerZ s -call certify to tiie passage and
adoption of this resolution; shall caL:�se tae or__inal of saoie
to be entered in t e look of lions of sa id City of E'1 Sa; undo,
and s,iall rnahe a minute of tae nassa, e and ac option t .ereof sn the
records of t_.e r)roceeain,s of t -e sa'd City uounc l of said City,
in t.ie minutes of t' e ,-,-et in. at W' Lcn the sane is passed and adopted.
Passed, approved and adopted, this 20t'z day of Februaxnr, 11346.
L1,9yor of ne city of gundo,
California.
A`1'TEST:
STATE 01 CALII'OthIA )
COtT TY OF LOS A` CP,;,3S ) as.
CITY 01 E,LS ECTII.D0 )
I, VICTOR D. I�.CCAR'T Y, City Cl r_, of the City of .dl aecundo,
nereby certify E .at t .e fore ,oin- resoli-,tion visa adopted oy the
Council of the City of E1 6egundo, sl�-,ned by the Mayor and attested
b�T the City Clerk au a re „ular meeting taereof held on toe 20th
day of February, 1946.
That said r
AYZS: Councilmen
EOES: Councilmen
AFSEI;T: Councilmen
(SEAL)
ssolction was adopted by t e followin', vote:
Hesser, Peterson, Skelley, Thompson and Mayor Selby.
None.
None.
ty Ck rk of t e ity o
El Se.--undo, Californi
4,