CC RESOLUTION 112102611
RESOLUTION NO. 1121
RESOLUTION OF TH11 CITY COUNCIL OF zHE CITY OF EL SEGUNDO,
CALIFORKIA, ACCEPTING TH-E' TI)E PAYMMIAT .CID OF I. F. LAULZAN
FUR1TlTTJRE Id5'G. CO., INC. FOR CERTAIN CITY OVIVED REAL PROPERTY.
iTIEREAS, 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
'W EREAS, pursuant to said procedure as to 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. 'Pen E, of
Intention to Sell City of El 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 December 9,
16 and 23, 1918; and
WIIEREAS, 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
WI- iEREAS, this Council has reached a decision with reference
to the sale of said property;
NOW, T11EREFORE, be it resolved bo the City Council of the
City of E1 Segundo, as follows:
First: That the particular property which is the subject
of this resolution, and uhe sale therein contemplated, is located
in the City of 21 Segundo, County of Los !an<,eles, State of
California and is described as follows, to -wit:
Lot 10 in Block 6 of E1 Segundo, as per map recorded
in Hook 18, Page 69 of maps, in the office of the County
Recorder of said 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 $855.00 for said parcel of property.
Third: That the bid of I. F. Lauman Furniture I�Yfg. Co., Inc.,
hereinafter called the purchaser, to purchase by good and sufficient
deed, with policy of title insurance from said City for the sum of
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X855.00 payable in installments within the time and upon the
conditions and terms 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 followinc conditions:
1. The terms and conditions of said "Notice No. Ten 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: $250.00 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 7g% per annum from date of said contract
of sale, principal and interest payable in installments as
follows: Sp55.00 or more, and interest on the unpaid principal
balance on the 10th day of February, 1951, and on the 10th day
of each and every month thereafter until the 10th day of December,
1951, 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
full usual provisions included in Lh e usual form of sale
and purchase agreements as printed by t }le 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,
then and in t.,at 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
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damages, and said City shall t,ereupon be free and without
liability to said successful bidders 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 purc'r_aser upon receipt by saic Clerk for said City of
said initial payment of 4,250.00 and the delivery to said City
Clerk for said City of a like duplicate of said Contract of Sale
executed by said purchasers; and t1 at 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 re-
ferred to, be placed on file in the office of the City Clerk
of said City, and the said bid and said "Notice No. Ten 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 saic City, in the minutes of the meeting
at which the same is passed and adopted.
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Passed, approved and adopted, this 10th day of January,
1951.
Mlayor of the City of El gundo,
California.
ATTEST:
Victor D. McCarthy, City Clerk,
B ')t b -rn , LJ
Deputy City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF EL SEGUNDO
I, VICTOR D. McCARTIIY, City Clerk of the City of El
Segundo, hereby certify that the foregoing resolution was adopted
by the Council of the City of El Segundo, signed by the ;,:ayor
and attested by the City Clerk at a regular meetinL, thereof held
on the 10th day of January, 1951.
That said resolution was adopted by the following
vote:
AYES: Councilmen - Gordon, Swanson, Thompson and Mayor Selby;
NOES: Councilmen - None;
ABSENT: Councilman - Peterson.
Victor D. McCarthy
City Clerk of the City of
El Segundo.
By -�-h ,
Deputy.
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