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HomeMy WebLinkAboutCC RESO 15,676RESOLUTION NO. 15,676 RESOLUTION AUTHORIZING THE CITY ENGINEER TO ENTER INTO AN ESCROW FOR ACQUISITION OF REAL PROPERTY FOR EUCLID AVENUE EXTENSION (A.P.N. 560-160-33) WHEREAS, the construction of Euclid Avenue from 16th Street to 20th Streets requires the acquisition of a portion of real property at Euclid Avenue; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of National City that the City Engineer is hereby authorized to enter into an Escrow for acquisition of a portion of the real property at Euclid Avenue in the City of National City, County of San Diego, State of California for all real property described in Escrow Instructions No. JB-9848 dated November 11, 1987 attached hereto. BE IT FURTHER RESOLVED that a copy of said Escrow Instructions are on file in the office of the City Clerk and reference is made herein for all particulars contained therein. PASSED and ADOPTED this 12th day of July, 1988. GEORGE H. , Mayor ATTEST: Ions Campbell, City Clerk APPROVED AS TO FORM: �LKL George H. Eiser, III - City Attorney Fidelity National Title INSURANCE COMPANY ESTIMATED CLOSING STATEMENT P.O. Box 85589 • San Diego. California 92138 2763 Camino del Rio So: :Ian Di,. , California 92108-3894 Telephone (619) 295-7332 Date: Februray 22, 1988 THE CITY OF NATIONAL CITY Escrow No. 9848 Property: 561-160-33 Debits Credits Consideration or Sales Price Paid outside of escrow Deposits By first trust deed By second trust deed Pro -rations made as of Taxes for / year S Interest on $ @ 9G Rent @ S per S Ins. Expiring premium S Commission Paid To Title Insurance Premium Transfer Tax Recording Fees Escrow Fee Termite and/or Inspection Fees Demand of: Principal Interest @ from Interest @ from Prepayment Charge Reconveyance Fee Forwarding Fee to to City Tax Report pad Balance Due This Escrow Balance Due You — For which our check is enclosed Enclosed ( ) Original Note ( ) ( ) $ 175.00 225.00 4.00 227.50 200.00 $ 831.50 TOTALS 831.50 831.50 51-16 EXHIBIT "A" LEGAL DESCRIPTION That portion of Lot "F." Block 6, Lincoln Acres Orchard Subdivision in the City of National City, according to the map thereof Map No. 1785, on file in the Office of the Recorder of the County of San Diego, State of California, described as follows: Beginning at the southeasterly corner of said Lot "F," thence along the southerly line of said lot, South 71 58 37 West, 13.02 feet to the point of cusp with a curve concave northwesterly, having a radius of 20.00 feet; thence leaving said southerly line, northeasterly along said curve, through a central angle of 40°42'10", an arc length of 14.21 feet to a point on the easterly line of said lot, said line being nontangent to last mentioned curve; thence along said line, South 17°43'52" East, 4.84 feet to the point of beginning. Containing 20 square feet more or less. Q MELTA/BEARING I N.1D43'52' W Z M.11•55' SI" E. 5 40' 42' 10" 4 ersz'47" . d*9'33'46" EUCLId EXHIBIT " B RADIUS LENGTH r 13.02' COO' 1421' S1CO' 31.31' 14COQ7' L. N-R'5470.W 3nB5,MC-�r Qz.� .vV0vuE 51 1 - .1 1\iIAP 1785 BLOCK RIGHT OF WAY PARCEL NO. 51-16 AR NO. %I'V0 33 AREA OF ACQUISITION 2O &F DATE OWNER gEOUZO t JAMS R. eUSSIN6 c3► O' N /1'54:10"14/ 2.98' AREA •TO BE ACQUIRED RIGHT OF WAY MAP OF EUCUD AVENUE CITY OF NATIONAL CITY . Fidelity National Title INSURANCE COMPANY sass►n 9 ESCROW NO: JB-9848 DATE: NOV 11, 1987 ESCROW OFFICER: JEWELL BIEDL- ESCROW INSTRUCTIONS Cash through escrow 175.00 Total Consideration 175.00 On or before 12/28/87, I/We will hand you the sum of $175.00, $0.00 of which I have handed escrow holder; FOR A TOTAL CONSIDERATION OF $175.00 AND I will hand you any additional funds and instruments required from me to enable you to comply with these instructions, which you are instructed to use when you are able to procure a Standard Form Policy of Title Insurance from FIDELITY NATIONAL TITLE INS. with liability of not less than $175.00, on the following described prapertyin the County of SAN DIEGO, State of California: Complete legal description attached hereto and made a part hereof by reference. SELLER REPRESENTS ADDRESS TO BE: Portion of parcel *561-160-33 National City, CA 92050 Showing title vested in: City of National City, a !'tmicipal Corporation FREE FROM ENCUMBRANCES EXCrrl': 1. Second half for the fiscal year 1987/88, including levies for any district such as, but not limited to, drainage, irrigation,road improvements, fire protection, etc., and any supplemental taxes assessed pursuant to the provisions of the statutes of 1983, the State of California. Parties acknowledge you make NO REPORT of personal property taxes. 2. BONDS AND ASSESSMENTS with no delinquent payments. 3. COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS, RIGHTS, AND RIGHTS OF WAY OF RECORD, INCLUDING SO CALLED ZONING ORDINANCES, if any. CONSUMMATION of this escrow is CONTINGENT UPON THE FOLLOWING: A) Buyer's approval of the Preliminary Title Report within 5 days of receipt of same. In the event of no written disapproval deposited into escrow within said time limit, IT WILL BE DEEMED APPROVED, and release of this contingency. --B) The City Council's approval of this transaction. Said approval shall be evidenced by buyer's execution of the Certificate of Acceptance. Notwithstanding printed matter to the contrary, The City of National City agrees to pay the following: Escrow fees, title insurance premium, recording fees, transfer taxes and other closing cost incidental to conveying title to the City; Document preparation fees; Penalty cost and other additional charges as,applicable of any prepayment of any pre- existing recorded mortgage entered into in good faith encumbering the property; and prorated portion of real property taxPa which'are allocable to the period subsequent to the date of transfer of title to the City. You are authorized to pay all encumbrances necessary to place title in condition called for herein, including, but not limited to, prepayment penalties, to show title as herein provided, without further approval. Buyer acknowledges deposit of Closing Funds to be in the form of Guaranteed Funds, unless other arangements are made prior to closing for CASH deposits, or transfer of funds. THE FOLLOWING PRORATIONS AND ADJUSTMENTS ARE REQUIRED AS OF close of escrow S�rh AND RETURN P.O. Box 85589 • San Diego, California 92138 2763 Camino del Rio South • San Diego, California 92108-3894 • Telephone (619) 295-7332 Fidelity National Title INSURANCE COMPANY ESCROW NO: JB-9848 ALL PROBATIONS AND ADJUSTMENTS ARE TO BE AFFECTED ON A 30-DAY 'BASIS AND CLOSE OF ESCROW IS THE DAY DESIGNATED BY 'nit .TION AND/OR REGISTRATION OF THE DATE OF �,ILING DEED. AXES on real property ONLY, based on the amount of the last Tax Bill,as provided to au by title insurer, without liability as to correctness. (In the event a new tax ill is issued by the Tax Collector after close of escrow, in an amount different han prorated, the difference, if any, will be adjusted by the parties outside of ascxow). Buyer and Seller acknowledge that as a requirement for the closing of this escrow, and in accordance with Section 1521 of the Tax Reform Act of 1986, escrow holder must receive from Seller a tax information statement prior to the close of escrow. Buyer and Seller further acknowledge that escrow holder must provide this information to the Internal Revenue Service, and if the Seller is required to file a return, a negligence penalty or other sanction will be imposed on Seller if this income is -taxable and the Internal Revenue Service determines that it has not been reported. Seller hereby agrees to pay the cost of processing this report. THE FOREGOING INSTRUCTIONS ARE SUBJECT TO 'GENERAL PROVISIONS' AS SET FORTH ON THE REVERSE HERREOF. BY YOUR EXECUTION BELOW, PARTIES HEREIN ACKNOWLEDGE THEY HAVE READ AND FULLY UNDERSTAND ALL PROVISIONS CONTAINED THEREIN. SELLERS: Bernard Bussing BUYERS: City ofNationa�, City BY , M rs,Cit Burtan,S y Engineer 1243 National City Boulevard National City, CA 92050 Janie R.:Bussing P.O. Box 85589 • San Diego, California 92138 • t. 2763 Camino del Rio South • San Diego, California 92108-3894 • Telephone (619) 295-7332 as GENERAL PROVISIONS 1. Deposit of Funds. All funds received In this escrow shall be deposited in an escrow account or accounts maintained by FIDELITY NATIONAL TITLE IN- SURANCE COMPANY, with any state or national bank, and may be transferred to any other escrow account or accounts at the sole discretion of FIDELITY NATIONAL TITLE INSURANCE COMPANY. All disbursements shall be made by check of FIDELITY NATIONAL TITLE INSURANCE COMPANY. Further, you are hereby authorized to deposit, or cause to be deposited, any funds handed you under these escrow instructions with any duly authorized subescrow agent . in the event such deposit shall be deemed necessary or convenient at the sole discretion of FIDELITY NATIONAL TITLE INSURANCE COMPANY for the consumation of this escrow. ff for any mason funds are retained or reirsain In escrow, you are to deduct therefrom a reasonable monthly chow as custodian thereof of not less than S10.00 per month. 2. Prorations and Adjustments. ',orations andlor adjustments tatted for In this escrow are to br e on the basis of a thirty (30) day month unless otherwise tn- st d in writing. The phrase "close of escrow (COE)" as used in tf istructions shall mean the date on which documents are n ad. 3 )cordation of instruments. :ordatlon of any Instruments delivered through this escrow, if deemed necessary or proper by FIDELITY NATIONAL TITLE IN- SURANCE COMPANY for the issuance of the policy or policies of title insurance called for, Is authorized. 4. Authorization to Furnish Copies. You are authorized to fumish copies of these instructions, sup- plements, amendments or notices of cancellation and closing statements In this escrow to the teal estate brokers) and lenders) named in this escrow. 5. Authorization to Execute Assignment of Hazard Insurance Policies. You are to execute, on behalf of the principals hereto, your form assignments of interest in arty insurance policy (other than title in- surance) called for herein and forward them upon close of escrow by regular mail to the agent with the request: (a) that the agent consent to attach loss payable clause or make other additions or correction as have been specifically required herein; (b) that the agent Thereafter forward such policy to the parties en- titled to them. In any dealings relating to hazard insurance including adjustments, in connection with this escrow, you may assume that each such Policy is in force and that the necessary premium therefor has been paid. You shall not be required to examine or investigate any hazard insurance policy or policy information submitted to you. 6. Matters Not A Part of this Escrow. No examination or insurance as to the amount or payment of per- sonal property taxes is required unless specifically requested. You are not to be concemed with, nor liable for, giving of any disclosures required by federal or state law, Including but not limited to, RESPA (Real Estate Settlement Procedures Act), Regulation Z (Truth and Lending Disclosures), or other warning, or any warranties, express or implied. Further, you ars not to be concerned with any zoning ordinances, land division regulation or buliding restrictions which may pertain to or affect the land or improvements that are sub- ject ject to this escrow. You are to make no physical inspection or examination of the real or ersonal property described In any document in this escrow, and property shall be accepted unconditionally In Its present con - by the buyer in this escrow, unless otherwise stated in these lotions. ru will not concern yourself with domestic water bins or other c utility matters. Conflicting Instructions and Right of Cancellation. Any principal instructing you to cancel the escrow shall file notice of cancellation in your office in writing. You shall, within two¢jwork- ing days thereof, mall, by certified mak, one (1 copy of such mace to each of the other principals at the address stated in ads a - UNLESS WRITTEN OBJECTION TO CANCELLATION IS FILED 1IV YOUR OFFICE BY A PRINCIPAL WITHIN TEN (ID) DAYS AFTER DATE OF SUCH MAILING, YOU ARE AUTHORIZED TO COMPLY WITH SUCH NOTICE AND DEMAND PAYMENT OF YOUR CANCELLATION CHARGES AS PROVIDED HEREIN. if written objection is filed, you are authorized to hold all money and instruments in the escrow and to take no further action until otherwise directed, either by the prin- cipals' mutual and written instructions, or final order of a court of competent jurisdiction. In the event of cancellation of this escrow, whether It be at the request of any of the principals or otherwise, the fees and charges due FIDELITY NATIONAL TITLE INSURANCE COMPANY, Including expenditures Incurred andlor authorized, shall be bome equally by the parties hereto, unless otherwise specifically agreed to. Any party electing to cancel this escrow hereby promises and agrees to pay your cancellation expenses. The principals hereto expressly agree that you, as escrow holder, have the absolute right, at your election, to file an action In in- terpleader requiring the principals to answer and litigate their several e claims and rights amor,,„ Themselves and you are authorized 'ro deposit with the Clerk of the Court all documents and funds !a this escrow. In the event such action Is filed, the principals, jointly and severally, agree to pay your cancellation charges and costs, expenses and reasonable attorneys fees which you are required to expend or incur In such interpleader action, the amount thereof to be fixed and judgment therefor to be rendered by the court or agreement of the parties. Upon the filing of such action, you shall thereon be fully released and discharged from all obligations to further perform any duties or obligations otherwise imposed by the terms of this escrow. Except as expressly provided for above, should any controversy arise between the parties hereto or any other person, or should con- flicting demands be made upon you with respect 10 any monies or documents which you hold In escrow, you shall not be liable to take any action of any kind but may withhold all monies, securities, documents or other things herein deposited until such controversy or conflict shall be resolved to your satisfaction by agreement of the parties or by proper legal process. Any disagreement between buyer and seller as to the adequacy or fulfillment of a condition may be considered as a controversy. Alt the parties to this escrow hereby jointly and severally promise and agree to pay promptly upon demand, as well as to indemnify you and hold you harmless from, all litigation and interpleader costs, damages, judgments, attorneys fees, expenses, obligations and liabilities of every kind which, In good faith, you may Incur or suffer in connection with or arising out of this escrow, which said litiga- tion, Interpieader, obligations, liabilities or expenses, arise during the performance of this escrow or sebsequent thereto, directly or indirectly. 8. Amendments to These Instructions. No notice, demand or change of Instructions shall be of any ef- fect to alter, amend, supplement or vary the terms of these instruc- tions unless given in writing. 8. Time of the Essence; Termination of Agency Obligation. Time Is of the essence in these instructions. If this escrow is not in a position to close by the date shown herein for close of escrow, you may otherwise continue to act under these instructions, provid- ed written demand to cancel by any party is not handed you atter the time given to comply. If there Is no action taken on this escrow within six (6) months after the foregoing date, or any written extension thereof, your agency obligation shall terminate, at your option, and all documents, monies or other Items held by you shall be retumed to the parties depositing same. 10. Disclosures. Your knowledge of matters affecting the property, provided such facts do not prevent your compliance with these instructions, does not create any liability or duty in addklon to your responsibility under these Instructions. 11. Effect of this Escrow. It is fully understood by the parties to thls escrow that the ex- ecution of instructions in this escrow and any related documents may, and likely will, create or change existing legal rights or obliga- tions relative to various matters, including, but not limited to, pro- perty taxes, interest deductions, rights under existing encumbrance(s) andlor homeowner status. Therefore, each party hereto represents to escrow agent that they have either sought or waived the advise of competent counsel as to any of the foregoing matters, It being fully undestood that FIDELITY NATIONAL TITLE INSURANCE COM- PANY, as escrow agent, serves merely as an escrow agent and can- not give legal or financial advice to any party thereto. Parties' signatures on all instruments and Instructions pertain- ing to this escrow indicate their unconditional acceptance and ap- proval of same. 12. Depository Only. You are to be considered and held as a depository only and shall not be responsible or liable in any manner whatsoever for the suffi- ciency or correctness as to form, manner of execution or validity of any instrument deposited Into this escrow, nor as to the identity, authority or rights of any person executing the same; and your duties hereunder shall be limited 10 the safekeeping of such money, in- struments or other documents redraved by you as escrow holder and of the delivery of the same in accordance with the written instruc- tions accepted by you in this escrow. 13. Fee for Normal Services. It is understood that the usual fees agreed to be paid for your ser- vices are for ordinary and usual services only, and should there be any extraordinary or unusual services rendered by you hereunder, the undersigned(s) agree to pay you a reasonable compensation for such extraordinary or unusual services, together with any expenses which may be incurred by you in connection therewith. 14. Counterpart. These instructions, and any amendments or supplements thereto, may be executed in any number of counterparts, each of which shall be deemed an original, regardless of the date of execution and delivery. All such counterparts shall constitute one and the same document. • 15. Notices. Escrow agent Is to use the respective addresses of seller and buyer as set forth herein, or the last notice of change thereof receiv- ed by escrow agent, In the mailing of any notice, demand or declara- tion herein.