CC RESOLUTION 1279RESOLUTION iio. 1279
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO,
CALIFORivIA, ACCEPTING TIM TIME PAYT &iuT BID OF HERBERT 0. BULLOCK
FOR CERTAIN CITY OWNED REAL PROPERTY.
�FrHh,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 Lo a
tax paying basis; and
WHEREAS, pursuant to the said procedure as so established, the
Council nas 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. Eleven 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 Herlad in the issues of December 11th, 18th and 25th, 1952;an'
WHEREAS, responsive to said notice the bid hereinafter specifically
mentioned for the property hereinafter described was riled and
has been auly ana regularly considered by this Council; and
WHEREAS, this Council has reached a decision with reference to
the sale of said property;
NOW, 'THERE'FORE, 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 therein contemplated, is located
in the City of El Segunao, County of Los Angeles, SLaGe of California,
ana is described as follows:
The 'West 25ft of the East 50ft of North 80ft of Lot 5, in
Block 103, E1 Segundo, as per Book 200 Page 22 of Maps,
Records of Los Angeles County.
Second: That it would be to the best interest of said City
to accept the bid hereinafter specifically referred to in the sum
of $1050.00 for said parcel of property.
Third: That the bid of Herbert 0. Bullock to purcnase by good
and sufficient deed, with policy of title insurance from the City
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for the sum of $1050.00 said Westerly 25 feet of Easterly 50 feet
of Northerly 80 feet of Lot 5, Block 103, E1 Segundo, said bid made
on benalf of Herbert 0. Bullock and Helen E. Bullock, husband and
wife, as joint tenants, hereafter called the "purchasers ", said
purchase price payable in installments within the time and upon the
conditions and terms hereinafter stated, BE AvD Thp, SANi.; IS HEREBY
AC CEP'IED.
Fourth: That the said acceptance of said bid and the sale
herein mane by virtue of this acceptance thereof are so accepted
and made subject to the following conditions:
1. The terms ana conditions of said "iiotice No. Eleven 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: $262.50 upon execution and delivery of the contract of
sale hereinafter referred to and the balance of saia purchase price
together with interest on the unpaid principal amount at the rate of
7% per annum from the date of Baia contract of sale, principal and
interest payable in installments as follows: $71.60, or more, and
interest on the unpaid principal balance, on the 14th day of February,
1953, and $71.59, or more, and interest on the unpaid principal
balance on the 14th day of March, 1953, and on the 14th day of
each and every month thereafter until the 1L;th day of December, 1953,
when the entire balance due on the principal and interest becomes due
and payable.
Fifth: That the purchasers, 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 said 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 purchasers
fail 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 and to convey hereunder, and the
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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 bidders to sell said property to any other purchaser.
Sixth: That the Mayor of the City of E1 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
name and affix the corporate seal of said City of E1 Segundo thereto
and to deliver said contract of sale to said purchasers upon receipt
by said Clerk for said City of said initial payment of $262.50 and
the delivery to said City Clerk for said City of a like duplicate of
said contract of sale executed by said purchasers; 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 purchasers 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 purchasers, 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. Eleven 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
E1 Segundo, and shall make a minute of tr -e passage and adoption
thereof in the records of the proceedings of the City Council of said
City, in the minutes of the meeting at which the same is passed and
adopted.
Passed, approved and adopted this 14t day of January, 1953.
ATTEST; Mayor of the City of egundo.
(�,A q City Clerk.
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
}
CITY OF EL SEGU14DO )
I, NEVA M. ELSEY, 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 14th
day of January, 1953-
That said resolution was adopted by the following vote:
AYES: Councilmen - Baker, Gordon, Peterson, Swanson and Mayor Selby;
NOES: Councilmen - None;
ABSENT: Councilmen - None.
iZr ty Clerk, C ty or egundo