CC RESOLUTION 1194I
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RiSOl ,T10,1 'i'_ CSTf CoUiXIL, OP' Y-11] C_r `1 OT" EL
S GU' T)O CALII-'ORidIA
o 7ACCEPM,G TI i' YAYI,,r,,,T CID OF' L. ST CI,i�EiT OR C"YAIN
C17Y OVa„ED REAL PROPERTY.
vll- I:msAS,
instituted and is
for the restorati
tar, paying, basis;
41TIEREAS,
the City
now pros,
on of tax
and
pursuant
of El Segundo, California, has heretofore
-citing a general comprehens_-ve procran
deeded properties within said City to a
to said procedure as so established,
said Council has caused to be t,iven and published a notice of
intention to sell the interest of said 'City In certain of such tax
deeded rarcels, tihici, saia notice is desis,nated as "1Jotice iao. Ten :d
of Intention to Sell City of El Segundo Owned Real Property and
Inviting 'raids or Offers Therefor ", and vihicn said notice was puolished
in the E1 Segundo ITerald in --'le issues of December 9, 16 and 23,
1918; and
a'rII3REAS, responsive to saia:. notice, t'_e oid Iiere'nafter
specifically mentioned for Lhe property hereinafter describedms
filed, ana has been duly considered b�,T this Counc`_l; and
"J'HEREAS, tr,is Council has reached a decision with reference
to the sale of said property;
hOw, '7I iEPO KI, be it resolved by the City Council of the
City of El ,Segundo, as follows:
k'irst: That tr,e particular uroperty which is -u-ne subject
of tsis resolut, -on, ant. t_�e sale therein conteriplated, is located
in tie City of El Se undo, Count;, of LosAngeles, State of Cali Y'or.iia,
and is described, as follows:
Lot 7, 3lock 3, E1 Se-,undo, as per Book 18, Page
69 of Maps, Records of Los An,,eles County.
Secord: hat it woulr: be for tLe best interest of said
City to accept the bid rereinafter spocil_cally referred to in the
sum of X1002.00 for saia parcel of property.
Third: That the bid of James L. Stinnett and HARIE Stinnett,
husband a.rd wife, as ,joint tenants, hereinafter called t: e purchaser,
to _rurchase b„ good and sufficient deed, wit,_ policy of title
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6589
insurance from the City for t -he sum of x;1002.00, payable in insuall-
ments „lithin the time acid upon the conditions and terns nore-nafter
stated, be and tine same is hereby accepted.
Fourth: That the said acceptance of said aid and the sale
herein made by virtue of this acceptance thereof are so accepted and
nade subject to u,e followin,> conditions:
1. The terms and conditions oI said "notice ic. 'Pen L1 of
Intention to Sell City of Fl Se,-undo Owned Beal Property and Invitinr,
Bids or Offers Therefor ";
2. That the said purchase price for said real property
to be so conveyed as aoove stated, is payable and shall be paid as
follows: Iy252.00 upon execution and delivery of the contract of sale
hereinafter referred to and the balance of said purchase price,
tor,ether with Interest on tre unpaid principal amount at the rate of
7% per annum from the date of said contract of sale, or'_ cipal and
interest paya,)le in installments as folloris: `Ip68.20 or raore, and
interest on the unpaid principal balance,on the 21{.tn day of November,
1951, and $68.18 or more, and interest on the unpaid principal balance,
on the 24th day of December, 1951, and on the 24th day of each and every
month thereafter until the 24th day of September, 1952, when the entire
balance due on the principal ano interest becones due and payable,
Fifth: That the purchaser, within ten days from and after
written notice of the acceptance of said bid hereby made, tol,,ether
with notice that ti,e 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 contain -'np, the full usual provisions
included in the usual form of sale ana purchase agreements as printed
bI the title companies of Los Angeles County, auc, approved b-, the CS ty
Attorney or Snecial City Attorney, ano u_•at ii su& ;;urc' asers fail
to do so, then and in tnat event t<<e said City, at tLe option of Lhe
City Council thereof, shall be relieved of its obliP,ation to enter into
said contract of sale ane to convey hereunder, and the amounts there-
tofore paid or deposited on said property or with said bid shall be
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6596 ;
forfeited to said City as full aria liquidated damn, °es, and said
City shall thereupon be free ar_ =nf thout liahilitr to said successful
bidders to sell said property to any other purchaser.
Sixth: That the 'Sayor of the City of E1 Segundo is hereby
autnorized and instructed to execute in the nine of said City and
on its be alf tae said contract of sale in form aroroved as aforesaid,
and the Civj 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 saia purchaser upon receipt by said Clerk
for said City of said initial payment of �i2l-2.00 and the delivery to
said City Clerk for sa, d City of a like duplicate of said Contract of
Sale executed by said purchasers; ana that the said :iayor and City
Clerk are hereby further authorized an,. 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 pt.rcilaser a quitclaim deed of sa-le real nrorerty, _oget.,er with
a policy of title insurance, s3,owink; said _roperty vestea in o--,e 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 anc said "Notice ito. 'Pen P of lnteriFlon to Sell City of
E1 Segundo Owned Real Property and Inviting lids or Offers Therefor ",
are hereby referred to ana by this reference expressly incorporated
herein ana made a part hereof.
Eighth: That the City Clerk shall certify to the
- aassage ana adoption of this resolution; shall cause t -e ori-;__nal
of the sasae to ae entered in t.,e book of resolutions of said
City of El Se-;undo, and shall make a minute of the passage and
adoption t,iereof in the records of t,�e proceedin',)s of the
City Council of saic City, in the minutes of ti e meetini-, at ma'nich
the sane is passed ana adopted.
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6591
Passed, approved and adopted, this 24th day of October, ,
1951.
P ayo/ o fhe C tty of" Eundo
California
ATTEST:
i
City Clerk
STATE OF CALIFOH_;7A
CURTY 62 LOS ANGELES
CITY V EL SEG KDO )
I, NEVA M. ELSEY, City Clerk of the City of El Senunoo,
hereby certify that the foregoing resolution was adopted by the
Council of the City of El Segundo, signed by We Mayor and attested
by the City Clerk at a regular meeting thereof held on the 24th
day of October ', 1951-
That said resolution was adopted oy the following vote:
WES: Councilmen - Gordon, Swanson, Thompson and Mayor Selby;
NOES: Councilmen - None;
USEIT: Councilman - Peterson.
City Clerk of the Ci tYja
El NeLUndo