CC RESOLUTION 811RESOLUTION NO. 811
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO,
CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF MRS. LOIS E.
STINE FOR CERTAIN CITY M NED REAL PROPERTY.
WIiEREAS, the City of E1 Segundo, Cal fornia, has heretofore
instituted and is now prosecuting a general comprehensive program for
the restoration of tax deeded properties within said City to a
tax paying basis; and
WHEREAS, 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 M
of Intention to Sell City of E1 Segundo Owned Real Property and
Inviting Bids or Offers Therefor. ", and which said no tice was
published in the El Segundo Herald in the issues of May 10th, 17th
and 24th, 1945; and
WHEREAS, responsive to said notice the bid hereinafter
specifically mentioned for the property hereinafter described was
filed, and has been duly considered by this Council; and
WHEREAS, this Council has reached a decision with reference
to the sale of sald property;
NOW, THEREFORE, BE IT RESOLVED, By the City Council of the
City of El Segundo, 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 10, Block 28, El Segundo, as per map recorded
in Book 18 Page 69 of Maps, Records of Los Angeles County.
Seconds That it would be for the best interest of said City
to accept the bid hereinafter specifically referred to in the sum
of $240.00 for said property.
Third: That the bid of Ralph L. Stine and Lois E. Stine, hereinafter
called the purchasers, to purchase by good and sufficient deed with
Policy of title isurance from said City for the sum of 6240.00, payable
1.
in installments within the time and upon the terms and conditions
hereinafter stated, be and the same is hereby accepted.
Fourth: That the said acceptance of said bid and the sale
herein made by virtue of this acceptance thereof are so accepted
and made subject to the following conditions:
1. The terms and conditions of said "Notice No. Six M of
Intention to Sell City of El Segundo Owned Real Property and Inviting
Bids 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;
$60.00 upon execution and delivery of the contract of sale hereinafter
referred to and the balance of said purchase 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: $16.40 or more, and interest on the unpaid
principal balance on the 27th day of March, 1946, and $16.36 or more
and interest on the unpaid principal balance on the 27th day of April,
1946, and on the 27th day of each and every month thereafter until
the 27th day of January, 1947, 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 tae 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 and purchase agreement containing the further usual provisions
included in the usual form of sale and purchase agreements asirinted
by the Title Companies of Los Angeles County, and approved by the City
Attorney or Special City Attorney, and that if such purchasers fail
to do so, than and in that event the said City, at the option of
the City Council thereof, shall be relieved of its obligation to enter
into said contract of sale and to convey hereunder, and the amounts
theretofore paid or deposited on said property or with said bid, shall
be forfeited to said City as full and liquidated damages, and said City
shall thereupon be free and without liability to said successful
bidders, to sell said property to any other purchaser.
2.
Sixth; That the Mayor of the City of E1 Segundo 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 the City Clcrk is hereby authorized and instructed to
attest the same and affix the corporate seal of said City thereto
and to deliver said contract of sale to said purchasers upon receipt
by said Clerk for said City of said initial payment of $60.00
and the delivery to said City Clark for said City of a like duplicate
of said Contract of Sale executed by said purchasers; and that the
said Mayor and City Clerk are hereby further aLthorized 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 the City of El Segundo.
Seventh; That the bid of said purchasers, above referred to,
be placed on file in the office of the City Clerk of said City,
and the said bid and said "Notice No. Six M of Intention to Sell
City of El Segundo 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 El Segundo,
and shall make a minute of the passage and adoption thereof in the
records of the proceedings of the said City Council of said City,
In the minutes of the meeting at which the same is passed and adopted.
Passed, approved and adopted,
ATTEST:
City er
this 27th day of February, 1946.
Z&
vl ayolr of the 9,f +"
Segundo, Californi .
3.
STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES
CITY OF EL SEGUNDO }
I, VICTOR D. MCCARTIJY, City Clerk of tin City of El Segundo,
hereby certify that the foregoing resolution was adopted by the
Council of the City of El Segundo, signed by the Mayor and
attested by the City Clerk at an adjourned regular meeting thereof
held on the 27th day of February, 1946.
That said resolut ion was adopted by the following vote:
AYES:
NOES:
ABSENT*
Councilmen HPsser, Peterson, Skelley, Thompson and Mayor Selby
Councilmen None
Councilmen None
4.
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