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HomeMy WebLinkAboutCC RESO 14,446e ,S RESOLUTION NO. 14,446 RESOLUTION AUTH RI ING THE CITY ENGINEER TO ENTER INTO AN �� ION ESCROW FOR PROPERTY AT 1625 ORANGE STREET (E.H. & M.E. Shull) WHEREAS, the construction of Euclid Avenue from 16th Street to 20th Street require acquisition of several parcels of land, and WHEREAS, this parcel of land includes a 2 bedroom residence, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of National City that the City Engineer is her by authorized to enter into an Acquisition Escrow for property at 162 Orange Street in the City of National City, County of San Diego, State o California, for the acquisition in fee of all real property described in Escrow Instructions (No. 57472-S) dated August 9, 1984 attached hereto; and 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 2nd day of October, 1984. ATTEST: y.• ESC.7Q1Y INSTRUC ;:CMS To: LAND TITLE - A Division CONTINENTAL LAND TITLE COMPANY 1330 Fourth Ave., P.O. Box 2270 San Diego. CA 92112 D. E. Scannell, Escrow Officer (619) 234-7192 1. On or before December 1, 1984 2. 3. 4. I will hand you , prior to close of escrow, the 5. sum of $45,000.00 6. Escrow No. 57472-S Dote August 9, 1984 Paid outside of escrow Cash through escrow Encumbrance of record Encumbrance of record New encumbrance Total Consideration $ S S S 45,000 00 45,000 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 8. OWNERS policy of title insurance with a liability in the amount of S45,000.00 on property 9. described as follows: 10. 11. 12. 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 84- 19 85, 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 California. 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 31 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. All that portion of the Northwesterly Quarter of Quarter Section 107 of the Rancho de la Nacion, in the City of National City, County of San Diego, State of California as more fully set forth on Exhibit "A" attached hereto and made a part hereof. 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 are 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. ❑ Interest on deed of trust of record based on statement furnished you by the beneficiary. 59. D If 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. ❑ Rentals based on statement handed you by seller and approved by buyer. 65. ❑ Security deposits. cleaning fees and advance rents as shown on rental statement are to be charged to seller and credited to buyer. 66. ❑ Premiums on fire insurance policies handed you, unless buyer at his option secures new coverage and advises escrow holder accordingly. 67. 0 Homeowner's association fees. 68. ❑ FHA Mortgage Insurance Premium. 69. 0 Any impounds shown on beneficiary statement are to be charged to buyer and credited to seller. 70.lagreetopay154e/il dlkh6416i all title and escrow fees in connection with this transaction. 71. (Page 1) E-190A GENERAL PROVISIONS 1. All funds received in this escrow shall be deposited with other fur os in °general escrow fund account or accounts ct CON flNENTAL LAND TITLE \ • COMPANY with a State or Notional Bank qualified to do business in the State of California. All asoursemenis shah be trace by check of CONTINENTAL LAND TITLE 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 °reauthorized to prepore, obtain. record and deliver the necessary instruments to carry out the terms and conditions of this escrow and to order t0 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 .aid policy is in full force and effect and that c'I 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-accepte: ;,y ,cam in this escrov'1. 6. You shall have no responsibility of notifying me or any of the parties to this escrow of any sae. resole. loan. exchange or other transaction involving any property 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 made. 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 concumng instructions providing for payment of funds and the disposition 10 be made of this escrow. the escrow holder may return all funds and documents to the perties 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 holder to aeposit all funds and documents in court and have no further liability hereunder. B. 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 indemnify and hold you harmless from and against all costs. damages. judgements, attorney's fees. expenses. obligations and liabilities of ony 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 et 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 parly(ies) entitled thereto. shall be assessed a holding fee of S5000 annually Atter seven yeors 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. BtrvER(S) CITY OF NATIONAL CITY a Municipal Corporation v'By: 1243 National City Blvd., National City, CA 92050 (Address) (Zone) (Telephone) (Address) By: (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 10 comply therewith which you are authorized to use and/or deliver when you hold in this escrow for my account the funds. SELLER(S) Edward H. Shult 15281 No. Lake Road, Magalia, CA 95954 (Address) (Zone) (Telephone) n n n n n Margaret E. Shult (Address) (Zone) (Telephone) (Address) (Zone) (Telephone) (Address) (Zone) (Telephone) (Page 2) EXHIBIT "A" Legal Description All that portion of the Northwesterly Quarter of Quarter Section 107 of the Rancho de la Nacion, in the City of National City, County of San Diego, State of California, according to Map thereof No. 166, filed in the Office of the County Recorder of San Diego County, May 11, 1869, described as follows: Beginning at the Northwesterly corner of said Quarter Section 107, thence running South 19° East along the Westerly line of said Quarter Section a distance of 237 feet; thence North 70° 40' East 40 feet; thence North 19° West parallel to the Westerly line of said Quarter Section 237 feet to Northerly line of said Quarter Section; thence South 70° 40' West along said Northerly line 40 feet to the point of the beginning.