CC RESOLUTION 1331Y
RESOLUTION NO. 1331
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO,
CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF G. R. WASSMAN
FOR CERTAIN TAX DEEDED PROPERTY.
WHEREAS, the City of E1 Segundo, California, has hereto-
fore 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.
Eleven M of Intention to Sell City of E1 aegundo Owned Property
and Inviting Bids or Offers Therefor ", and which said notice was
published in the El Segundo Herald in the issues of December 11,
18 and 25, 1952; and
WHEREAS, responsive to said notice, the bid hereinafter
specifically mentioned for the property hereinafter described was
filed and has been duly and regularly considered by this Council; and
WHEREAS, this Council has reached a decision with reference
to the sale of the 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 same therein contemplated, is located in
the City of El Segundo, County of Los Angeles, State of California,
and is described as follows;
Lots 7 and 8 in Block 41, B1 Segundo, as per Book 20,
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
$1601.00 for said parcels of property.
Third: That the bid of G. R. Wassman, to purchase by good
and sufficient deed, with policy of title insurance from the City
said Lots 7 and 8, Block 41, E1 Segundo Tract, for the sum of
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$1604.00, said purchase price payable in installments within
the time and upon the conditions and terms hereinafter stated,
BE AND THE SAMB IS HEREBY ACCEPTED.
Fourth: That the 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. Eleven M of
Intention to Sell City of E1 Segundo Owned Real Property and Invit-
ing 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: $402.00 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 the date of said contract of sale, principal
and interest payable in installments as follows: $109.30, or more,
and interest on the unpaid principal balance, on the 10th day of
July, 1953, and $109.27, or more, and interest on the unpaid
principal balance, on the 10th day of August, 1953, and on t he 10th
day of each and every month thereafter until the 10th day of May,
1954, 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 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
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 into said contract of sale and to convey hereunder,
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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 bidders to sell said property to any other purchaser.
Sixth: That the Mayor of the City of Bl 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 City Clerk for said City of said initial payment of $402.00
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 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 bid and said "Notice No. Eleven 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 E1 Segundo, and
shall make a minute of the 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 10th day of June, 1953•
ATTEST: / 7
Way-or or e city 'Segundo _
Deputy City Clerk.
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES ) se.
CITY OF EL SEGUNDO )
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
loth day of June, 1953•
That said resolution was adopted by the following vote:
AYES: Councilmen - Gordon, Peterson, Swanson and Mayor Selby;
NOES: Councilmen - None;
ABSENT: Councilmen - Baker.
NEVA M. ELSEY, CITY CLIMK, CITY OF EL SMUNDO