CC RESOLUTION 824RESOLUTION NO. 824
RESOLUTION OF THE CITY COUNCIL OF n:iE CITY OF EL SEGUNDO,
CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF EARL L.
STINE FOR CERTAIN CITY OWNED REAL PROPERTY.
WHEREAS, the City of E1 Segundo, California, 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 t1Notice No. Seven
of Intention to Sell City of E1 Segundo Owned Real Property and
Inviting Bids or Offers Therefor. ", and which said notice was duly
published in the issues of October 25th, November let and 8th,
1945, in the E1 Segundo Herald; 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 said property;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the
City of E1 Segundo, California, as follows:
First; That the particular property w hick 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 16, Block 26, El Segundo Tract, as per map
recorded in Book 18, Page 69 of Maps, Records
of Los Angeles County.
Second: That the bid of Earl L. Stine, hereinafter called
the purchaser, to purchase said property by quitclaim deed
from the City of E1 Segundo for the sum of $250.00, 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
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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. Seven
of Intention to Sell City of E1 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:
$62.50 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: $17.10 or more, and interest
on the unpaid principal balance on the 1st day of June, 1946,
and $17.04 or more, and interest on the unpaid principal balance
on the 1st day of July, 1946, and on the lst day of each and
every month thereafter until the 1st day of April, 1947, when the
entire balance due on the principal and interest becomes due and
payable.
Fourth: That the purchaser, within ten days from and after
written notice of the acceptance of his bid hereby made, together
with notice that the said contract of sale has been prepared and
is ready to be executed, shall deliver and execute the required
contract of sale containing the further usual provisions included
in the usual form of agreement of sale and purchase as printed by
the title companies in Los Angeles County, and 9- proved by the
City Attorney or Special City Attorney, and that if such purchaser
fails to do so, then 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, without liability to said
successful bidders, to sell said property to any other purchaser.
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Fifth: 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 Clerk is hereby authorized and instructed to
attest the same and affix the corporate seal of said City thereto and
to deliver to said purchaser the contract of sale upon receipt
by said Clerk for said City of said initial payment of $62.50, and the
delivery to said City Clerk for said City of a like duplicate of
said Contract of Sale executed by purchaser; and that the said Mayor
and City Clerk are hereby further authorized 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 purchaser a quitclaim deed of said real property, so paid
in full, to said purchaser.
Sixth: That the bid of said purchaser, hereinabove referred
to, be placed on file in the office of the City Clerk of said City,
and the said bid and said "Notice No. Seven of Intention to Sell
City of E1 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.
Seventh: 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 E1 Segundo,
and shall make a minute of the passage and adoption thereof in the
minutes of the meeting at which the same is passed and adopted.
Passed, approved and adopted this lsst day of May, 1946.
ayor o t e ulty or
Segundo, California.`
ATTEST:
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF EL SEGJNDO )
I, VICTOR D. McCART-lY, City Clerk of the City of E1 Segundo,
hereby certify that the foregoing resolution was adopted by the
Council of the City of E1 Segundo, signed by the Mayor and
attested by the City Clerk at a regular meeting thereof, held
on the lst day of May, 1946.
That said resolution was adopted by the following vote;
AYES: Councilmen Baker, Peterson, Skelley, Thompson and Mayor Selby
NOES: Councilmen None
ABSENT; Councilmen None
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