HomeMy WebLinkAboutCC RESO 15,260RESOLUTION NO. 15,260
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
AUTHORIZING THE CITY ENGINEER TO ENTER INTO AN ACQUISITION ESCROW
FOR PROPERTY LOCATED AT 2407 EAST 20TH STREET
(A. ZEPEDA)
BE IT RESOLVED by the City Council of the City of National City
that the City Engineer is hereby authorized to execute an acquisition
escrow, Continental Land Title Company Escrow No. 603041 dated March 10,
1987, for the acquisition of property located at 2407 East 20th Street,
National City.
PASSED and ADOP1ED this 7th day of April, 1987.
George H. Waters, Mayor
ATTEST:
IONE ,MI'BELL
Ione bell, ?itClerk
BY:
APP Q
/JS•24'&.nc
George H. Eiser, III - City Attorney
ESCROW INSTRUCTIONS
To: Downtown Office EscrawNo. 605041
CONTINENTAL LAND TITLE COMPANY Date March 10, 1987
1330 Fourth Ave., P.O. Box 2270
San Diego. CA 92112
Tamy B. Eliseo , Escrow Officer
(619) 234-7192
1. On or before April 9, 1987,
2. ��j
3. + f
4. I will hand you , prior to close of esrpw,. qlg 3
5. sum of $82,500.00, and closing fundsiaiid % j
6.documents as required,
Paid outside of escrow $
Cash through escrow s 82,500
Encumbrance of record $
umbrance of record $
encumbrance S
S
Total Consideration S 82,500
00
00
7. which you will deliver when you obtain a Grant Deed to the Vestee(s) named herein and when you can issue your usual standard form
on property
8. OWNERS
9. described as follows:
10. Lot 9 of Anita Terrace, in the City of National City, County of San Diego, State of
11. California, according to the Map thereof No. 3744, filed in the office of the County
12. Recorder of San Diego County, November 9, 1957.
13.
14.
15.
16. showing title vested in: CITY OF NATIONAL CITY, a Municipal Corporation
17.
18.
19.
20.
21. FREE OF ENCUMBRANCES EXCEPT:
22. All secured taxes and General and Special Taxes for the fiscal year 19 87 19 88. including personal property taxes.
23. if any, and special District Levies, payment of which is included and collected therewith, and the lien of supplemental taxes. if any, assessed
24. pursuant to the provisions of Chapter 498, Statutes of the State of Califomia.
25. Covenants. conditions, restrictions, reservations. easements, rights. rights of way of record. and any oil or mineral reservations of record.
26. *************************
27.CLOSE OF THIS ESCROW IS CONDITIONED UPON acceptance of the Grant Deed and
28. authorization for the expenditure of the funds necessary to purchase said property
29. by the City Council of the City of National City. Deposit in escrow of the
30. resolution by the City of National City accepting said deed and authorizing the
31. expenditure shall constitute satisfaction of this condition.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53. MAKE ADJUSTMENTS AND PRORATIONS OF THOSE ITEMS HEREINAFTER CHECKED AS OF CLOSE OF ESCROW: NONE
54. ❑ Taxes, except taxes on personal property not conveyed through this escrow based on current year's taxes. However in the event the
55. escrow closes after July 1 and before the current taxes ore publicly posted and published you are instructed to prorate the taxes
56. based upon the immediately preceding year's taxes unless the parties to the escrow furnish you with an amount mutually agreed to,
57. which sum shall be used as the basis for said proration.
58. 0 Interest on deed of trust of record based on statement furnished you by the beneficiary.
59. ❑ tf the unpaid balance of the loan of record to remain as shown on beneficiary statement is more or less than the amount shown
60. above, adjust difference accordingly in
61.
62.
63.
64. 0 Rentals based on statement handed you by seller and approved by buyer.
65. 0 Security deposits, cleaning fees and advance rents as shown on rental statement are to be charged to seller and credited to buyer.
66. 0 Premiums on fire insurance policies handed you, unless buyer at his option secures new coverage and advises escrow holder accordingly.
67. ❑ Homeowners association fees.
68. ❑ FHA Mortgage Insurance Premium.
69. ❑ Any impounds shown on beneficiary statement are to be charged to buyer and credited to seller.
70 BUYER agrees to pay all escrow and title charges in connection with this transaction.
71.
policy of title insurance with a liability in the amount of $ 82,500.00
(Pone 11
F., rilA
GENERAL PROVISIONS
1. All Lr ds received in this escrow shall be deposited with other funds in a general escrow fund account or accounts ct CONTINENTAL LAND TITLE
COMPANY with a State or National Bank qualified to do business in the State of California. All disbursements shall be made by
check of CONTINENTAL LAND TfLLE COMPANY. The principals to this escrow are hereby notified that the funds deposited herein are
insured only to the limit provided by Federal Deposit Insurance Corporation.
2. You are authorized to prepare. obtain, record and deliver the necessary instruments to carry out the terms and conditions of this escrow and to
order to be issued at close of escrow the policy of title insurance as called for in these instructions. Close of escrow shall mean
the date instruments are recorded.
3. All adjustments and prorations shall be made on the basis of a 30 day month.
4. As my agent, you are instructed to assign any fire and casualty insurance policy delivered to you and to secure any endorsements required in
the performance of these instructions. You may assume that said policy is in full force and effect and that all premiums due have
been paid.
5. You are not to be held accountable or liable for the sufficiency or correctness as to form, manner of execution, or validity of any instrument
deposited in this escrow, nor as to the identity, authority or rights of any person executing the same. Your duties hereunder shall be
limited to the proper handling of such money and the proper safekeeping of such instruments. or other documents received by
you as escrow holder, and for the disposition of same in accordance with the written instructions accepted by you in this escrow.
6. You shall have no responsibility of notifying me or any of the parties to this escrow of any sale, resale. loan. exchange or other transaction
involving any properly herein described or of any profit realized by any person, firm or corporation in connection therewith,
regardless of the fact that such transaction(s) may be handled by you in this escrow or in another escrow.
7. No notice, demand or change of instructions shall be of any effect in this escrow unless given in writing by all parties affected thereby. In the
event a demand for the funds on deposit in this escrow is mode. not concurred in by all parties hereto. the escrow holder, regardless of who
made demand therefor, may elect to do any of the following:
(i)
After thirty days from the date escrow holder was first notified that the escrow is to be cancelled and/or demand for funds was made,
absent mutually concurring instructions providing for payment of funds and the disposition to be made of this escrow, the
escrow holder may return all funds and documents to the parties depositing same, and without liability therefor.
(ii) Withhold and stop all further proceeding in, and performance of, this escrow pending a resolution of any conflict by and between the
parties hereto.
(iii) File a suit in interpleader and obtain an order from the court allowing escrow holier to deposit all funds and documents in court and
have no further liability hereunder.
8. If the conditions of this escrow have not been complied with at the time herein provided. you are nevertheless to complete the same as soon
as the conditions (except as to time) have been complied with, unless I shall have made written demand upon you for the
return of money and instruments deposited by me.
9. All parties hereto agree. jointly and severally. to pay on demand. as well as to indemnity and hold you harmless from and against all costs,
damages, judgements, attorneys fees. expenses. obligations and liabilities of any kind or nature which. in good faith. you may incur
or sustain in connection with this escrow. whether arising before or subsequent to the close of this escrow.
10. You are authorized to furnish copies of these instructions. any supplements or amendments thereto, notices of cancellation and closing
statements to the real estate broker(s) and lender(s) named in this escrow.
11. These instructions may be executed in counterparts. each of which so executed, shall, irrespective of the date of its execution and delivery be
deemed an original, and said counterparts together shall constitute one and the same instrument.
12. These instructions shall become effective as an escrow only upon the delivery thereof to. the escrow holder signed by all parties thereto.
13. Any funds abandoned or remaining unclaimed. after good faith efforts have been made by the escrow holder to return same to the party(ies)
entitled thereto, shall be assessed a holding fee of S5000 annually. After seven years the amount thereafter remaining
unclaimed may escheat to the State of California.
14. All documents, closing statements, and balances due the parties to this escrow are to be mailed by ordinary mail to said parties at the
addresses shown opposite their signatures. unless otherwise instructed.
ALL OF THE TERMS, CONDITIONS AND PROVISIONS AS SET FORTH HEREINABOVE ARE APPROVED, ACCEPTED AND CONCURRED IN BY THE PARTIES
WHOSE SIGNATURES APPEAR BELOW.
BUYER(s) CITY OF NATIONAL CITY
a Municipal Corporation
By:
By:
1243 National City Blvd., National City, CA 92050
(Address) (Zone) (Telephone)
Attn: Carl Pippin (E19) 455-9fl 7
(Address) (Zone) (Telephone)
(Address)
(Zone) (Telephone)
(Address)
(Zone) (Telephone)
The foregoing terms, conditions and instructions are hereby concurred in, approved and accepted. I will hand you all instruments and money
necessary of me to enable you to comply therewith which you are authorized to use and/or deliver when you hold in this escrow for my occount the
funds, prorate adjustments and instruments deliverable to me under these instructions. I agree to pay your usual escrow charges. except those the
buyer agreed to pay, my recording fees, charges for assurance of title, beneficiary statement(s) and/or demand(s) together with any amounts
necessary to place title in condition called for. Indicate on deed S as requireddocumentary transfer tax and charge my account therefor.
Obtain and pay demands for Full Reconveyance of trust deeds of record in favor of The Kissel'
SELLER(S) Company and Home Federal Savings and Loan, including recording of reconveyances,
trustee's fees and prepayment penalties, if any.
Alice Zepeda, who acquired title (Address) (Zone) (Telephone)
as Alice De Cima 5533 Blueridge Street, San Diego, CA 92139 (619) 267-5898
(Address) (Zone) (Telephone)
(Address)
(Zone) (Telephone)
(Address)
(Zone) (Telephone)
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