CC RESOLUTION 901RESOLUTION N0. 901
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO,
CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF JAMES HENNESSY
FOR CERTAIN CITY OWNED REAL PROPERTY.
WHEREAS, the City of El 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 "Aotice No. Nine M of
Intention to Sell City of E1 Segundo Owned Real Property and
Inviting Bids or Offers Therefor.", and which said notice was
published in the El Segundo Herald in the issues of June 12th,
19th and 26th, 1947; 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, 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 E1 Segundo, County of Los Angeles, State of California,
and is described as follows, to -wit:
Lots 3 and 4, Block S. E1 Segundo, as per map
recorded in Book 18 Page 69 of Maps, Records of
Los Angeles County.
SECOND: That it would be for the best interest of said City
to accept the bid hereinafter specifically referred to in the sum
of $610.00 for each of said parcels of property, or a total sum
of $1220.00.
Third: That the bid of James T. Hennessy, hereinafter
called the purchaser, to purchase by good and sufficient deed
with policy of title insurance from said City for the sum of
'�p1220.00, payable 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. Nine M
of Intention to Sell City of E1 Segundo Owned Heal 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: 4304.00 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:
483.30 or more, and interest on the unpaid principal balance
on the 15th day of November, 1947, and $83.27 or more, and
interest on the unpaid principal balance on the 15th day of
December, 1947, and on the 15th day of each and every month
thereafter until the 15th day September, 1948, when the entire
balance due on the principal and interest becomes due and payable.
Fifth: That the purchaser, within ten days from and after
written notice of the 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 as printed by the Title companies of Los Angeles
County, and approved 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
2.
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
bidiers, to sell said property to any other purchaser.
Sixth; That the Mayor of the City of El 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 said contract of sale to said purchaser upon
receipt by said Clerk for said City of said initial payment of
0304.00 and the delivery to said City Clerk for said City of a
like duplicate of said Contract of Sale executed by said
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,
together with a policy of title insurance showing said property
vested in the City of E1 Segundo.
Seventh: That the bid of said purchaser, 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. Nine M 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.
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
3.
City Council of said City, in the minutes of the meeting
at which the same is passed and adopted.
Passed, approved m d adopted, this 15th day of October,
1947.
Mayor of the ity E1
Segundo, Califor .
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES
CITY OF EL SEGUNDO )
I, VICTOR D. McCARTHY, City Clerk of the City of El
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 15th day of October, 1947.
That said resolution was adopted by the following vote:
AYES: Councilmen
NOES: Councilmen
ABSENT: Councilmen
4.
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