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CC RESOLUTION 933Ei RESOLUTION NO. 933 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO, CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF CHARLES W. WILLIAMS 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 "Notice 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 E1 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 file d, 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 El Segundo, as follows: First: That the particular property which is the subject of this resolution, and the sale 3erein contemplated, is located in the City of E1 Segundo, County of Los Angeles, State of California and is described as follows, to -wit: Lot 2, Block 4, E1 Segundo, in Book 18 Page 69 of Maps, Angeles County. Second: That it would be f City to accept the bid hereinafter the sum of $851.56 for said parcel as per map recorded Records of Los or the best interest of said specifically referred to in of property. 1. Third: That the bid of Charles W. Williams, a married man, hereinafter called the purchaser, to purchase by good and sufficient deed with policy of title insurance from said City for the sum of 4851.56, 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 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: $500.00 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: $31.96 or more, and interest on the unpaid principal balance on the 14th day of May, 1948, and on the 14th day of each and every month thereafter until the 14th day of March, 1949, 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 2. 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 bidder 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 $500.00 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 El 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. Eijzhth; 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 3. " t f , . 6 at which the same is passed and adopted. Passed, approved and adopted, this 14th day of April, 1948. ,i'/rA.�- /�� Mayor of the City Segundo, California. ATTEST: STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES CITY OF EL SEGUNDO ) I. VICTOR D. MCCARTHY, City Clerk of the City of E1 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 a. sdjeumed- regular meeting thereof held on the 14th day of April, 1948. That said resolution was adopted by the following vote: AYES: Councilmen Baker, Peterson, Skelley, Thompson and Mayor Selby; NOES: Councilmen None; ABSENT: Councilmen None. 4.