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HomeMy WebLinkAboutResolution No. 1350 RESOLUTION NO. /5 A RESOLUTION OF THE CITY C OUNC IL OF THE CITY OF DOWNEY DETERMINING AND DECLARING THAT CERTAIN PUBLIC PROPERTY IS NOT NEEDED FOR ANY PUBLIC PURPOSE r WHEREAS, the City of Downey purchased certain real property within said City, said real property hereinafter being described; and WHEREAS, said real property no longer is needed for the purpose for which it originally was purchased; and WHEREAS, said property is not within a general master plan for civic development. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES RESOLVE AS FOLLOWS: SECTION 1. That that certain real property owned by the City of Downey more particularly described in Exhibit "A" attached hereto and by this reference made a part hereof is not now needed for the purpose for which purchased nor is it needed for any other public purpose and, therefore, the same should be sold. SECTION 2. The Mayor hereby is authorized and directed to execute any and all a.reements necessary to consummate the sale of said property to ' A..,41r w- . _` ; in accordance with that c-rtain agreement, a copy of which is attached hereto marked Exhibit "B" and made a part hereof. SECTION 3. The City Clerk shall certify to the adoption of this resolution and thenceforth and thereafter the same shall be in fu 1. force and effect. full fo 0 APPROVED AND ADOPTED this day of � , 1964. 14 14 1- 4-1.,r 1 Mayor �` A r ST: / City 4lerk *C64 I HEREBY CERTIFY that the foregoing resolution was adopted at a _, / meeting of the City Council of the City of Downey eld on the , ,z . day of »i , 19 by the affirmative vote of at least 5 councilmen, to wit: AYES: Councilmen: - NOES: Councilmen: ABSENT: Councilmen: /E)1) City Cle k -2- ., 2065 INSTALLMENT AGREEMENT FOR SALE OF REAL ESTATE THIS AGREEMENT entered into this day of 1964, by and between the CITY OF DOWNEY, a municipal corpora - ] tion (hereinafter called "seller ") and DOWNEY TOWERS, a co- partnership (hereinafter called "buyer "). W I T N E S S E T H In consideration of their mutual covenants and conditions, the parties hereto agree as follows: 1. Seller agrees to sell and convey unto buyer and buyer agrees to buy that certain real property composed of four parcels of land situated in the City of Downey, County of Los Angeles, State of California, which said parcels of land, and each of them, are more particularly described in Exhibit ►--r "A" attached hereto and by this reference made a part hereof, I said parcels of land may be referred to from time to time herein collectively as said land or said property. Excepting and reserving from said property so described all riparian and other rights and all standing, flowing, percolat- ing, or other waters in or under said property, together with the right to remove the same through underground channels by means of wells or tunnels on other property. Also excepting and reserving therefrom all minerals, gas, oil, petroleum, naphtha, and other hydrocarbon substances in and under the above - described land, together with all necessary and convenient rights to explore for, develop, produce, extract, and take the same subject to the express limitation that any and all 1 operations for the exploration, development, production, extraction and taking of any of said substances shall be carried out at levels below the depth of 100 feet from the surface of the above- described land by means of mines, wells, derricks, and /or other equipment EXHIBIT B from surface locations on other land. Subject further to the express limitation that the foregoing reservation in no way shall be interpreted to include any right of entry in and upon the surface of the above - described land. Subject to all exceptions, reservations, covenants, conditions, restrictions, rights, rights of ways, and easements of record. . 2. Buyer promises and agrees to pay to seller for said real property the total purchase price of $40,400.00 as follows: Via) $4,040.00 prior to the execution of this agree- ment (receipt of which hereby is acknowledged). (b) $9,050.00 shall be deposited in escrow in accord- . ance with the terms of an escrow agreement to be entered into for the sale of said property. (c) The balance of $27,300.00 with interest from the date of the close of said escrow at 7 per cent per annum on the unpaid balance as follows: $273.00 on the first of the month following the close of said escrow with interest on the unpaid balance accrued to said date and $273.00 or more on or before the first of each and every month thereafter with accrued interest to said date; provided, however, that the total principal sum, plus all accrued interest, shall be paid in its entirety on or before the expiration of one year from the date of the close of said escrow. All payments to be made by buyer shall be paid with lawful money of the United States. of America. 3. Buyer shall pay all taxes and assessments levied against said property.. The buyer shall not permit or allow any assessment or taxes to become delinquent. In the event buyer shall fail to pay before delinquency any such taxes or assessments, the seller may pay them and the amounts so paid -2- 1 - 2 6? shall be deemed part of the purchase price and be payable forthwith with interest at the rate of 7 per cent per annum until paid without prejudice to any other rights of the seller by reason of such failure. ....i 4. The seller agrees upon full compliance by the buyer with his agreements herein to execute and deliver to the buyer a grant deed to the property excepting any part which may have been condemned, free of encumbrances, reservations or exceptions except those above mentioned, and any that may accrue hereafter through any person other than the seller. Notwithstanding any of the provisions of this numbered paragraph to the contrary, buyer at its option may acquire title to parcels i, 2, 3, or 4 as described in Exhibit "A" hereof subsequent to the close of escrow upon written request being made to the seller and upon there having been paid to seller the sum of not less than $10,100.00. 5. The seller agrees to furnish a standard title insurance i company purchaser's title policy when the buyer shall have paid the total amount due hereunder, insuring the title to said prop- erty with liability the same as the above purchase price. In the event buyer exercises the option to obtain title to a single parcel as specified in numbered paragraph 4, then at such time seller shall furnish a standard title insurance company purchaser's title policy insuring the title in said parcel with liability in the amount of $10,100.00. 6. It is agreed that said real property has been inspected by buyer and is being sold to buyer upon an "as is, where is" basis and that there has been no representation, 0 - 1 promise, agreement or inducement concerning said property or i disagreement other than as expressly set out herein. Buyer shall maintain the buildings upon said premises in a good and -3- serviceable condition substantially the same condition as they are at the time of this agreement, normal wear and tear excepted; provided, however, that buyer may remove any build- ings from all or any portion of said property upon title thereto being vested in buyer. y 7. Should the buyer fail to make payments herein provided or any thereof, when due, or fail to comply with the conditions, covenants, and agreements herein set forth, the amounts paid herein may be retained by seller as consideration for making this agreement and thereupon the seller shall be released from all obligation in law or equity to convey said property and buyer shall never acquire and expressly waives any and all rights and claims of title because of this agree- ment. 8. Time is of the essence hereof and in the event buyer shall fail to comply with or perform any condition or agreement hereof promptly at the time and in the manner herein required, the seller may elect to declare all of the buyer's rights here- under terminated. 9. Should seller sue buyer to enforce or terminate this agreement or any of its terms, buyer shall pay a reasonable attorney's fee in connection therewith. 10. This agreement may not be assigned by buyer by operation of law or otherwise without the written consent of seller first obtained. 11. The waiver by seller of any breach, term, covenant or condition of this agreement shall not be deemed to be a waiver of any subsequent breach of the same or any other term, condition or provision of this agreement. 12. Any award made by reason of any condemnation action or taking by a public body for damages or compensation for the taking of a part of said property or of all of said property -4- # 069 shall be paid to the seller and shall be credited against the purchase price. 13. This agreement shall be binding upon and shall apply to the respective heirs, successors, and assigns of '`" each party hereto. 14. Thi s agreement shall not be recorded by the buyer. 15. Except as provided in numbered paragraph 6 hereof, buyer . shall make no improvements upon nor perform any work upon said real property without the consent of the seller in writing first having been obtained and shall not allow any mechanic's liens or other liens to attach to said property and shall hold seller free and harmless from any and all liability by reason of buyer's exercise of the rights hereunder in respect to said real property. 16. Buyer shall be entitled to receive any income from said property subsequent to the close of said escrow. IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed the day and year first above written. CITY OF DOWNEY a municipal corporat on ATTEST: By 1' . 44, City Clerk DOWNEY TOWERS, a co- partnership By By By By By By By -5- 2070 All that real property in the City of Downey, County of Los Angeles, State of California described as follows: Parcel 1 That portion of Block 13 of the Downey Land Association, in the City of Downey, as per map • recorded in Book 2 Page 434 of Miscellaneous Records, in the office of the County Recorder of said County, described as follows: The westerly 44.50 feet of the easterly 189.50 feet of the northerly 29.00 feet of the southerly 237.75 feet of said block. County Surveyor's Filed Map No. 13512 in the office of the County Engineer of said County showing the blocks of said tract lying northerly of the 100 foot railroad right of way divided into lots numbered in red ink with dimensions in blue ink; shows the follow- ing note: Blue figures and data are copied from original Map by County Surveyor June 19, 1918. Parcel 2 An easement over that portion of Block 13 of the Downey Land Association, in the City of Downey, as per map recorded in Book 2, Page 434 of Miscellaneous Records, in the office of the County Recorder of said County, described as follows: The westerly 5.00 feet of the easterly 186.50 feet of the southerly 208.75 feet of said land. - Parcel 3 The northwesterly 44.50 feet of the southeasterly 189.50 feet in Block 13 of the Downey Land Association, as per ' map recorded in Book 2 Page 434 of Miscellaneous Records, in the office of the County Recorder of said County. EXCEPT the southwesterly 266.75 feet thereof. Parcel 4 The westerly 44.5 feet of the easterly 231 feet of Block 13 of the Tract of the Downey Land Association, as per map recorded in Book 2 Page 434 of Miscellaneous Records, in the office of the County Recorder of said County. EXCEPT the southerly 266.75 feet of said land. 7 Exhibit A