HomeMy WebLinkAboutCC RESO 7603RESOLUTION NO. 7603
RESOLUTION AUTHORIZING PARTIAL RECONVEYANCE
WHEREAS, all that real property hereinafter referred to is
subject to a deed of trust wherein and whereby City of National
City is named beneficiary as security for the balance of the sum
due to City of National City on account of the purchase price for
said real property; and
WHEREAS, said deed of trust provides a formula for partial
release of the property given as security upon the payment in advance
of a portion of the balance due City of National City; and
WHEREAS, the sum of $216,000.00 has been so paid to National
City and a partial release has been requested.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF NATIONAL CITY AS FOLLOWS:
That the Mayor and the City Clerk and Bank of America National
Trust and Savings Association, as trustee under deed of trust, be and
hereby are authorized to execute any and all documents necessary in
order to effect a reconveyance to National City Development Company,
et al, of all that certain portion of the real property subject to
said deed of trust more particularly described in Exhibit A hereto
attached and by reference made a part hereof
PASSED AND ADOPTED this 22nd day of September, 1959.
MAYOR/
ATTEST:
CITY CLERK
EXHIBIT "A"
Lots 1 to 197 inclusive of NATIONAL AWARD HOMES UNIT NO. 1,
in the City of National City, County of San Diego, State of
California, according to Map thereof No. 4268, filed in the
Office of the Recorder of San Diego County July 17, 1959.