HomeMy WebLinkAboutReso 79-1978 RESOLUTION NO, 79-78
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION
OF AN AMENDMENT TO OPTIONTO PURCHASE
REAL PROPERTY (VALUE GIANT SITE)
that'
BE IT RESOLVED by the City Council of the City of South San Francisco
1. Execution of Amendment to Option to Purchase Real Property.
Execution of the Amendment to Option to Purchase Real Property
dated December 7, 1977 (San Mateo County Official Records, Reel 7708,
Page 2348 to Page 2362), which Amendment is dated the 27~th_~ day of
Jun9 , 1978, is hereby authorized. A copy of the Amendment is attached
hereto as Exhibit "A."
2. Si.qnatures.
The City Manager is authorized to execute said Amendment on
behalf of the City of South San Francisco, and the City Clerk is authorized
to attest his signature thereto.
3. 'Recordation.
The City Clerk is authorized to record or cause recordation of
said Amendment in the Official Records of the County of San Mateo.
4. Endorsement.
The City Clerk is authorized to endorse on the first page of
the Option to Purchase Real Property dated December 7, 1977, the follow-
ing- "Refer to Resolution No 79-78 , adopted the 5th day of July ,
1978, and Amendment to Option, for extension of time provided in para-
graphs 5 and 6."
I hereby certify that the foregoing Resolution was regularly introduced
and adopted by the City Council of the City of South San Francisco at a
regular meeting held on the 5th day of July, 1978, by the following vote:
AYES, COUNCILMEN
NOES,
ABSENT "
Ronald G. Acosta, William A. Borba, Emanuele N. Damonte,
and Terry J. Mirri
Councilwoman Roberta Cerri Tegl ia
None
ATTEST:
City Clerk ~,/
EXHIBIT A TO RESOLUTION NO. 79-78
ADOPTED July 5. 1978
~MENDMENT TO
OPTION TO PURCHASE REAL PROPERTY
(SAN MATEO COUNTY OFFICIAL RECORDS
REEL 7708, PAGE 2348 TO PAGE 2362)
THIS AMENDMENT T.0 OPTION TO PURCHASE REAL PROPERTY is
entered into as of this 97th day of June, 1978~ by and between
the City of South.San Francisco, a municipal corporation of the
State of California (hereinafter referred to as "City"), and
Castle $ Cooke Merchandising Corporation, a California corpora-
tion (hereinafter referred to as "CCMC");
WITN. ESSETH :
This Amendment is made upon the basis of the following:
1. City and CCMC entered into an Option Agreement as of
the 7th day of December 1977, which was recorded in the Official
Records of the County of San Mateo on the 12th day of January,
1978, in Reel 7708: Page 2348 to Page 2362.
2. City delivered to CCMC on April 5, 1978, written notice
of Exercise of the. Option.
3. City and CCMC desire to extend the period for convey-
ance by grant deed as set forth in Paragraph 5, and the period
for City's escrow of purchase price as now provided in Paragraph
6 of said Option.
NOW~ THEREFORE, IN CONSIDERATI0i; OF THE AFOREGOING PREMISES
AND THE MUTUAL COVENANTS HEREIN CONTAINED, IT IS AGREED AS FOLLOWS:
l. Extension of Time to Convey. The time for conveyance
by grant deed now provided for.in Paragraph 5 of the Option Agree-
ment (San Mateo County Official Records, Reel 7708, Page 2348 to
Page 2362) shall be extended to September 30, 1978.
2. Extension of Time for Escrow of Purchase Price. The
time for City's escrow of purchase price as now provided in Para-
graph 6 of the Option Agreement (San Mateo County Official Records~?
Reel 7708, Page 2348 to Page 2362) is extended to .September 30, 1978.
unless CCMC deposits the grant.deed in escrow prior to September
]5,. 1978, in which event City shall deposit the purchase Price
in escrow within fifteen (15) days after notice from CCMC that
the grant deed has been deposited in escrow.
3. Other Terms and-Conditions. Except as hereinafter
stated, all of the other terms and conditions of said Option
Agreement shall remain in full force and effect.
IN WITNESS. WHEREOF, the parties hereto have caused this
Amendment to be executed as of the day and year'first above
written.
ATTEST:
/s/ Margaret M. Pettigrew
City Clerk
CITY OF SOUTH SAN FRANCISCO
By /s/ C. Walter Birkelo
City Manager
CASTLE g COOKE MERCHANDISING
CORPORATION
] I~ V]~qe President
Its~' Secretary
EXHIBIT A