HomeMy WebLinkAboutCC RESO 10,452RESOLUTION NO. 10,452
RESOLUTION AUTHORIZING EXECUTION OF OPTION TO
PURCHASE REAL PROPERTY
BE IT RESOLVED by the City Council of the City
of National City that the Mayor be authorized to execute
that certain option to purchase real property between the
City of National City and Robert A. and Louise M. Thompson,
a copy of which is attached.
BE IT FURTHER RESOLVED that the City Finance
Officer is hereby authorized and directed to issue a warrant
in the amount of $16,500.00 plus escrow fees as required, to
cover the cost of this transaction.
PASSED AND ADOPTED this 14th day of September, 1971.
ATTEST:
171-4016
To: 12Escrow N o.
+ ltt£iY€2 "E'A° 2404 East 18th St.
NATIONAL j.X1�ol ASSOCIATION
PAID OUTSIOe: OF ESCROW S
National City Branch CASH THROUGH ESCROW 16 500 00 National City, California
National City
Calif.
Street Address of Property
! City Stare Zip
UNPAID EALANCE OF L. n:m;)LOyfd
ENCUMBRANCES OF RECORD Vacant Lot 7 Far^t'nd
— C Acreage
(.f Applicable)
NEW ENCUSI BRAN -FS Marguerite Ford
TOTAL CONSIDERATION 16500 00• tscrow timer
September 10
19 71
In consideration of your acting as escrow holder herein, it is agreed that you shall inno case or event be liable for
forgeries or
false personations in connection with these instructions, instruments of record, or those handled in this escrow.
It is further agreed that if any controversy arises between the parties hereto or with any third person, you shall not be required to
determine the same or take any action in the premises, .Out you may await the settlement of any such controversy by final appropriate
legal proceedings or otherwise as you may require, notwithstanding aayth'ing in the following instructions to the contrary, and in such
event you shall not be liable for interest or damage. In the event of sob controversy, you shall be entitled to reasc^ ble compen saticn for
all services performed by you and to costs and reasonable attorneys;fees if you intervene in or ire made a party to any litigation. the under-
signed jointly and severally agreeing to pay the same, and you shall further be entitled to hold documents and monies deposited herein
pending payment thereof.
hand you $16,500.00.
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and will deliver to you any notes, instruments and additional fund,: required from me to enable you to comply with these instructions, all of
which you are authorized and instructed to use and deliver providedinstruments have been filed for record entitling you to procure
assurance of title in the usual form of a Standard Owners Policy of Title Insurance,
issued bySecurity Title Insurance Co. with a ;viability of $16 , 500.00 covering property in the County of
San Diego State of California described as follows: All that portion
of Quarter SEction 107 of Rancho de la Nacion, in the City of National City, according,to Map
No. 166, filed in the office of the County Recorder of San Diego County described as follaws:
Commencing at the Northwesterly corner of the Southerly > of the Northerly i of Quarter Section
107, Rancho de la Nacion; thence South 19°East 40 ft. to the True Point.. of Beginning; thence
gg011th l9°F,asi 36n ft• the ce TQOrt17 7I°1 �+ C,f r .+ wT -_ an°.. ni
ft, Ws' -- - a Tr>Fei1° oi kof �egirining. C �1LN iFEI�$F,��i"r1LEr �tTiYi1�6iie LE�v" l�• thence 71l•bu,5
p a.. T'age or Records of said County -
showing title vested in:
CITY OF NATIONAL CITY, A Municipal Corporation
subject to: (1) all General and Special taxes for the fiscal year 19 71 19 72
INCLUDING ANY SPECIAL DISTRICT LEVIES, PAYMENTS FOR WHICH ARE INCLUDED THEREIN AND COLLECTED
THEREWITH, AND PERSONAL PROPERTY TAXES, IF ANY, ASSESSED AGAINST ANY FORMER OWNER.
(2) Assessments and Bonds, presently of record, having a present unpaid balance of None
(3) Any covenants, conditions, restrictions, reservations, rights, rights of way and easements of record
(4) Deed of Trust securing an indebtedness of $ None
of principal $ None Any difference in unpaid balance as disclosed by beneficiary statement will be adjusted
through escrow so that the total consideration remains unchanged.
(5) Deed of Trust on Bank of America N.T. & S.A. form, executed by
securing a Note for $
None in favor of
, as per its terms, now of record, unpaid balance
dated during escrow with interest at / per cent per annum, from
payable
at
/
principal and interest due and payable in instalments of $
day of every month, beginning
NO PRORATES IN THIS ESCROW.
As of
OR MORE, each on the
and continuing until
the following adjustments and monitions only are required in this escrow:
.-. a ":_n ene' m S enders:i .nits ., ni etas.
Seiler represents and visa are to assume ;hat the premium on any insurance policy which seller hands to you or causes ro he hande.!
to you :n id -is escrow. or which is reveals-:l to he in the possession of a beneficiary. has been paid in full and that such policy has not been
hyph .:he_at_d. Forward su_h rolicies and -'or endorsement forms to he attached thereto. if any. after close of escrow to the agent with a revues
tha• tic insurer consent to the transfer thereof aad,'or the atta.hnr.ent of loss -payable endorsement or mortgagee's clause or other additions
or c, rrr_..-ns as recciced_ and that the agent thereafter forward such policies and 'or the endorsements ithertrto to ;he paries entitled
thereto. Seller will pay prior to delinquency all taxes on real and personal property not being sold herein, which tax is a !ix-n on the herein
described real propers. You are not to be concerned with same.
I- is agreed by the parties hereto that so far as your rights and liabilities are concerned, this transaction is an essrnw and not any
r. :'.cr ',4_. .reiatirn and Volt are an escrow holder only.
The .i o s- of escrow" if wriren in these ironru. ti,.m shill mein the dine instruments .err tiled fiat
It is cnder.ten el that all disbursements shall be made to parties in interest. by your remittance and than reni ttan,e and instramcars
will ',e mailed to one of the parties entitled thereto, if more than one, to address given below. Instruct County Recorder to mail instruments
in the same manner.
Deliver Title Policy to buyer
I will pay. on demand- regardless of the consummation of this escrow, all charges incurred by you for me, inclr,dmg your usual
escrow foe and usual charges, unless otherwise provided.
I WILL PAY ALL THE BUYERS AND SELLERS CHARGES IN THIS ESCROW
IF YOU ARE UNABLE TO COMPLY WITH THESE INSTRUCTIONS ON OR PRIOR TO October 8, 1971
YOU WILL COMPLY AS SOON THEREAFTER AS POSSIBLE UNLESS A WRITTEN DEMAND FOR RETURN OF MONEY OR
INSTRUMENTS BY A PARTY TO THIS ESCROW IS RECEIVED BY YOU SUBSEQUENT TO SUCH DATE AND PRIOR TO
THE RhCORDING OF ANY INSTRUMENT PROVIDED FOR HEREIN.
CITY OF NATIONAL CITY, a Municipal Corporation
Signature- Signature
Address 1243 National Ave. Add ess
Telephone National City Ca
Telephone
THE FOREGOING INSTRUCTIONS AND CONDITIONS ARE HEREBY APPROVED AND ACCEPTED -IN THEIR EN-
TIRETY AND CONCURRED IN BY DIE. I will supply you with funds, notes and instruments rectuired from trio to enable you to
comply with these instructions, which you are authorized to use and deliver provided you hold for my account any instruments accruing
to ire and the sum of s 16,500.00 When property being conseyed is held in joint tenancy any cash derived therefrom in this
escrow shall be joint tenancy funds.
Order search of title at once. Deduct all my expenses from funds accruing to me. I will pay on demand, regardless of the con-
s ut .> :i.32 of this escrow, all charges incurred by you for me (except those other party has agreed to pay), including title charge, fee
for preparing instruments I execute, your usual escrow fee and usual charges, unless otherwise provided.
Internal Revenue Stamps are to be affixed to Deed I execute in the amount of $ none required
Make following disposition of proceeds due me:
Corr I
1. Credit Sav, account of
at your Branch
2. Mail Check to me at address below
Buyer is to pay all my charges in this escrow.
The undersigned seller is aware that they will be billed by the County of San Diego
for taxes from July 1, 1971 to close of this escrow.
Signatut. -..s%.l f. < � J 1 4 rftL� Ei*nature Al, f 1 y/(/_/
T //,7
Robert A. Thompson - / Louise M. Thompson
A'Ll': 419 L. St. NationalCityAddress
same
T. a-ci, i; 'ne 477 5329 Telephone
OFFER TO PURCHASE REAL ESTATE AND RECEIPT FOR DEPOSIT BROKER'S COPY
The undersigned hereby offers to purchase from owner thereof, the real property in the County of San Diego, State of California,
described as:
Lot __ _.. __.. , Block _ Subdivision
Nat6onal City, Calif.
Address 2404 E. 18th Street
FOR THE TOTAL PURCHASE PRICE OF $ 16,500.00
and has delivered to the undersigned agent, as a deposit upon the total price (ond as an inducement to
and consideration for the Seller's acceptance of this offer) Cash ( ) Check ( )
and will deliver to a local escrow company
as escrow holder, within 30 days after Seller's acceptance hereof. _..
and
$ 16,500.00
Boyer to pay all expences, and seller to net $16,500.00 less real
estate commission.
Under the day instruction in the Standard form of said escrow holder, which instruction shall provide
for PRORATE of area- to _ _.
Title is to be vested in - - - as evidenced by a California Land Title Association Standard Form Policy of Titlelnsurance issued by Land Title Insurance Company, to be
furnished through said escrow, at Seller's expense, insuring the fee title to be marketable and subjectonly to the encumbrances above set forth
and that portion of current taxes and di strict assessments not yet due, and covenants, conditions, restrictions and easements of record.Time is
of the essence in the performance of any act required by this agreement, and to complete said escrow but Broker may, without notice extend for
a period of not to exceed one month the time for the performance of any act hereunder, except the time for the acceptance hereof by Seller onddate
of possession.
This offer shall be deemed revoked unless accepted before 6:00 P.M. on the loth,... .. day of Sept. , 1971,
and such acceptance communicated to the undersigned. In the event of such acceptance and the failure of the undersigned to complete
the purchase of said property as herein provided, the amount paid as consideration for Seller's acceptance of this offer may, at Seller's
election, be retained by Sel er�� -t
In witness whereof 1 eeretaye execute the above offer this 1st day of Sept. , 197}and by such execution acknowledge
receipt of a copy hereof/
Address.
Telephone
seller
Received from kinerkzErmtszt above set forth.
Jerry Harris Realty 477-1111
Broker
BY .. Jerry Harris,
Buyer
Buyer
Seller hereby accepts the above offer, acknowledges receipt of a copy hereof and agrees to pay th er named abov as commission,
the sum of $ 990.00 or one-half of the amount of the deposit retained on Buyer's. failure to
complete the purchase, not exceeding, however, the amount of the commission herein stated.
Date
Address
- Phone
225 BROADWAY
V r vC-44
LAND TITLE
Irrigerstmer
ZMI
;9-1
Seller
Seller
PHONE: 234-7192
23011