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HomeMy WebLinkAboutReso 40-1978-° O636A-38a WMAM:JLC:SC 3/31/78 RESOI/3TION NO. 40-78 A RESOLUTION DETERMINING FAIR MARKET VALUE OF SURPLUS REAL PROPERTY TO BE SOLD AT PUBLIC SALE, CALLING FOR SEALED PROPOSALS, PROVIDING FOR METHOD OF SALE, ESTABLIS}{ING TERMS AND CONDITIONS RELATED THERETO, AND AUTHORIZING EXECUTION OF A GRANT DEED THEREFOR A.P. 11-262-21 946 GRAND AVENUE (FIVE UNIT APARTMENT BUILDING) RESOLVED, by the City Council of the City of South San Francisco, San Mateo County, California, that WHEREAS, this Council did, on December 7, 1977, adopt its Resolution No. 226-77, in which the Council determined that the real property described in Exhibit "A" attached hereto and hereby made a part hereof is not needed for public purposes by this City, and that the disposition of same by sale to the highest bidder at not less than fair market value would be for the common benefit; WHEREAS, the Clerk has caused written notice of this Council's intention to sell said real property to be given in accordance with Sections 54222 and 54226 of the California Government Code; WHEREAS, there has been filed with this Council an appraisal of said real property in the amount of $180,000; and WHEREAS, this Council desires to establish the terms and conditions pursuant to which said real property is to be sold pursuant to the provisions of Section 37350 of the Government Code; NOW, THEREFORE, it is hereby FOUND, DETERMINED, and ORDERED, as followS: 1. No public agency notified pursuant to California Government Code Sections 54222 and 54226 has responded in a manner expressing an interest in acquiring the property described in Exhibit "A" hereto. 2. The fair market value of said real property is $180,000. 3. The Manager shall cause said real property to be sold, pursuant to the provisions of Section 37350 of the Government Code, to the highest bidder, for cash, and subject to all liens and encumbreances of record, and in the following manner: (a) Any person desiring to purchase the property must submit a sealed written bid therefor, at not less than the minimum bid price, to the City Purchasing Officer, City Hall, 400 Grand Avenue, South San Francisco, California 94080, by not later than Tuesday , the 23rd day of May , 1978, at the hour of 10 o'cloCk a'M. (b) The written bid must be on a bid form available from the City Purchasing Officer, enclosed in an envelope clearly marked as follows: "A.P. 11-262-21, 946 Grand Avenue (Five Unit Apartment Building)". Included in the envelope shall be a certified or cashier's check, made payable to the City Treasurer of the City of South San Francisco, for not less than 10% of the amount stated in the bid. (c) The minimum bid price is $180,000. (d) At said time and place in the City Council Chambers the Manager will cause the written bids to be opened, examined and .declared. At said time and place the Purchasing Officer shall thereupon call for oral bids to be received at not less than One Thousand'Dollar ($1,000) increments over and above the highest responsible written bid. Only those persons submitting a responsible written bid accompanied by an appropriate certified or cashier's check will be allowed to participate in the oral bidding for the purchase of said real property. The oral bidding shall thereupon continue until no further oral bids are received. (e) Upon completion of the oral bidding, the Purchasing Officer shall identify the person submitting the highest oral bid and the person submitting the second highest oral bid; if there are no oral bids, the person submitting the highest written proposal. (f). The real property shall be sold, under the terms'and conditions herein provided, to the person submitting the highest bid on the condition that, by not later than 4:00 o'clock P.M. on the date the bids are received, such bidder shall present to the Purchasing Officer any additional 'certified or cashier's check required in order to make the total bid deposit equal to 10% of the final bid. (g) Upon'completion of the bidding, the checks submitted with the written bids, excepting that of the highest responsible bidder, shall be returned to the persons who submitted the checks. 4. Within ten (10) days from the date the bids are to be received, the City shall cause an escrow to be opened with the following instructions: (a) The successful bidder shall place into escrow the balance of the purchase price due, together with all closing costs, including costs of title insurance to be issued by Safeco Title Insurance ComPany and a title report, within sixty (60) days from the opening of the escrow. (b) Rents derived from the real property shall be ! prorated as of the close of escrow. (c) The City will execute a grant deed in favor of the successful bidder to be deposited in escrow. (d) Upon receipt of the purchase price and payment of all closing costs, the EScrow Agent shall remit same to the City and deliver the deed to t'he successfUl bidder. (e) If the successful bidder fails to pay the full purchase price and all closing costs within the 60-day period, the City shall be entitled to retain the bidder's deposit and the bidder shall have no claim to right, title or interest in said property. ' 5. ~ In the event the successful bidder fails to allow for the close of escrow as above provided, the Purchasing Officer shall contact the second highest responsible bidder for the purpose of providing for a sale of the property to that bidder, at the amount provided in his bid and in .the manner ~et forth above. In the event of a failure to Consummate such a sale, the City Manager shall then cause to be readvertised the Sale of said property in the manner herein prescribed. 6. No commission shall be paid to any real estate salesman or broker for Obtaining any bid to purchase said property. 7. Additional information regarding the sale of this property, including arrangement for inspection of same, may be obtained from the City Purchasing Officer at the above address. 8. The City Council reserves the right, without liability, to reject any and all proposals and bids and to cancel said sale at any time prior to the recording of the deed. In such event, the bidder' shall be entitled to the return of his bid deposit and to be reimbursed for any closing costs incurred. 9. The Mayor, on behalf of the City, is hereby authorized.to execute a grant deed to said property to the purchaser, and the Clerk is hereby directed to countersign said deed and to cause said deed to be delivered to the Escrow Officer. 10. The Clerk shall be, and is hereby, authorized and directed to post a notice of the adoption of this Resolution and of the time and place to receive bids by posting a copy of this Resolution at City Hall and on said real property. The Purchasing Officer is authorized to give additional notice of the sale through real estate and financial publications, the costs of same to be reimbursed to the City from the proceeds of the sale. Francisco at a I hereby certify that the foregoing resolution was regularly introduced and adopted by the City Council of the City of South San regular meeting held this 5th day of April , 1978, by the following vote: AYES: Councilmen Ronald G. Acosta, William A. Borba, Emanuele N. Damonte · and Terry J. Mirri, Councilwoman Roberta Cerri Teglia -- _ NOES: None ABSENT .' None ATTEST: city cler~ A.P. 11-262-21 946 GRAND AVENUE (FIVE UNIT APARTMENT BUILDING) BEGINNING at a granite .monument set on the Northerly .~side of Grand Avenu~ Extension in the City of South San 'FranCisco, which monUment is designated as "LT" on that certain map entitled "Survey of a portion of the Buri Burl Rancho for P. E- Iler", filed in the offi,e of the 'County Recorder of San Mate. County on M~mrch 10, 1891 in Book "E# of Maps at page 79I' running thence from said point of beginning, North 16° 30' 16m East 127.09 feet; thence North 70° 33' East 44.46 feet; thence South.15° 33' West 144.28 feet to the Northerly line of Grand Avenue EXtension; thence along said'Northerly line, on a~¢~rve __to the right, having a radius of..330 feet, a distance of 44.15 feet, the chord )£ which c~rve bears South 88" 02' 35" West 43.73 feet; thence North 53" 15' ~ast 5.21 feet to the point of beginning. Being Lot 8 in Block 3, of Grand Avenue Exten.sion, unrecorded. EXHIBIT "A"