CC RESOLUTION 1218RESOLUTION h0. 1218
RESOLUTION OF TIE CITY COUNCIL OF THE CI'T`Y OF EL SEGUNDO,
CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF JAMS E. NICHOLS II
FOR CERTAIN TAX DL.. D PROPERTY.
INILx'REAS, 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
V':IMMEAS, 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. Ten
M 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,
1948; and
uIFEREAS, 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
WHMAS, this Council has reached a decision with reference
to the sale of said property;
NOW, THIMFORE, 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;
Lot 31, Block 10, El Segundo, as per 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 0705.00 for said parcel of property.
Third; That the bid of James E. Nichols II, hereinafter called
purchaser, to purchase by good and sufficient deed, with policy of
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title insurance from the City for the sum of x705.00, payable
in installments within the time and upon the conditions and terms
hereinafter stated, be and tre same is hereby accepted.
Fourth: That the said acceptance of said bid ano 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 11hotice Plo. Ten M of
Intention to Sell City of El SeLundo 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: .x200.00 upon execution and delivery of tne contract of
sale hereinafter referred to and t' -e balance of said purchase price,
together with interest on tt.e unpaid principal amount at the rate of
75 per annum from the date of said contract of sale, principal and
interest payable in installments as follows: 045.90, or more, and
interest on the unpaid principal balance, on the 2nd day of Idiay,
1952, and $45-91, or more, and interest on the unpaid principal
balance, on the 2nd day of June, 1952, and on the 2nd day of each
and every month thereafter until the 2nd day of March, 1953, when
the entire balance due on the principal and 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, 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 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, ano- that if such purchasers fail
to do so, then and in that event the said City, at the option of the
City Cour_cil 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
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be forfeited to said City as full and liquidated damages, and said
City shall thereupon be free and without liability to said successfu'
bidders to sell said property to any ot::er 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,
ana the City Clerk is hereby authorized and instructed to attest the
name 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 0200 and tune delivery to
said City Clerk for said City of a like duplicate of said Contract
of Sale executed by said purchaser; and tnat the said LL?ayor and
City Clerk are hereby further authorized and instructed, upon the
payment to said City of tie full sum of all amounts payable to said
City under said contract of sale to execute, attest, seal and deliver
to said pure'_ aser a quitclaim deed of said real i,rcuerty, to`;otl�er
with a policy of title insurance, showinc said' pro -erty 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 Ad and said "Notice ldo. Ten IT of Intention to Sell City of
E1 Segundo Owned heal Property and Inviting Bids or Offers Therefor ",
are hereby referred to ana by t'nis 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 t',ie book of resolutions of said City of
E1 Segundo, and shall make a minute of the passage and adoption
therejf in the records of the proceedings of to City Council of
said City, in the minutes of the neetin;; at wrilch the same is
passed ana adopted.
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Passed, approved and adopted, this 2nd day of April,
1952-
1,ayor of the City of E1 ;undo.
ATTEST:
City Clerk.
SPATE 0-' CALiY Or.FIA
COUNTY 0? LOS Ac",RLES ) ss.
CITY OP EL SECJI`T O )
I, ITIEVA t ".. ELSEY, City Clerk of the City of El Se.undo,
hereby certify that the forcLoino resolution was adopted by the
Council of the City of 21 Segundo, signed by the L'ayor and attested
by the City Clerk at a regular neetinl ttereof Yield on the 2nd
day of April, 1952.
That said resolution was adopted by the followint vote:
AYES: Councilmen - Gordon, Peterson, Swanson, Thompson and Mayor Selby;
NOES: Councilmen - None;
ABSE;iT: Councilmen - None.
o Yl
City Cler_. off the City r -71 Segundo.