CC RESOLUTION 1372;31�ls
Resolution No. 1372
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EL SEGUNDO,
CALIFORNIA, ACCEPTING THE TIME PAYMENT BID OF S. H. ABRAMS
FOR CERTAIN CITY OWNED REAL PROPERTY.
WHEREAS, the City of E1 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
WHEREAS, pursuant to the said procedure as so established, the
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. Thirteen 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
E1 Segundo Herald; and
WHEREAS, responsive to said notice the bid hereinafter specifi-
cally 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 said property;
NOW, THERh7ORE, 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 17 in Block 7, E1 Segundo, as per map recorded
in Book 18, Page 69 of Maps, in the office of the
County Recorder 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
2101.00 for said parcels of property.
Third: That the bid of S. H. Abrams to purchase by good and
sufficient deed, with policy of title insurance, from the City
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for the sum of $2104.00 said Lot 17 in Block 7, El Segundo, said
purchase price payable in installments within the time and upon the
conditionsand terms hereinafter stated, and with real estate
commission in the sum of 5% of the sales price, payable to R. E.
Hapsmith Company, BE AND THE SAME 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. Thirteen 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: $526.00 upon execution and delivery of the contract of sale,
receipt of which sum is hereby acknowledged by Vendor, 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 hereof, principal
and interest payable in installments as follows: $143.50, or more,
and interest on the unpaid principal balance, on the 6th day of
February, 1954, and $143.45, or more, and interest on the unpaid
principal balance, on the 6th day of March, 1954, and on the 6th
day of each and every month thereafter until the 6th day of December,
1954, 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
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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 cm vey 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 damages,
and said City shall ti-Dreupon 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 purchaser upon receipt
by said Clerk for said City of said initial payment of $526.00 and
the delivery to said City Clerk for said City of a like duplicate of
said contract of sale executed by said purchasers; and 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 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. Thirteen M 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 the passage and adoption thereof in the records
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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 6th day of January, 1954.
Mayor '(Or tne city or 1 Segundo*
ATTEST:
City lark.
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF EL SEGUNDO )
I, NEVA M. ELSEY, City Clerk of the City of E1 Segundo, hereby
certify that the foregoing resolution was adopted by the Council of
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the City of' El Segundo, signed by the Mayors and attested by the City
Clerk at a regular meeting thereof held on the 6th day of January,
1954•
That said resolution was adopted by the following vote:
AYES: Councilmen - Gordon, Swanson and Mayor pro tem Peterson;
NOES: Councilmen - None;
ABSENT: Councilmen - Baker and Mayor Selby.
City Clerk of the WAY of El Segundo.
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