HomeMy WebLinkAboutReso 15-1983RESOLUTION NO. 15-83
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION OF
CONTRACT TO PURCHASE REAL ESTATE -
APN 012-331-050 AND APN 012-331-040
that'
BE IT RESOLVED by the City Council of the City of South San Francisco
1. Approval of Contract.
The Contract to Purchase Real Estate bearing a date of offer of
January 19, 1983 and relating to Assessors Parcel No's. 012-331-050 and
012-331-040, which document is attached as Exhibit "A" and incorporated herein
by reference as though set forth verbatim, is hereby approved subject to the
terms and conditions contained therein, including but not limited to the re-
quirement that the seller accept the offer contained therein within five (5)
days .of this action.
2. Execution.
The Mayor is authorized to execute the contract to purchase real
estate on behalf of the City, and the City Clerk attest her signature thereto.
3. Recordation.
Upon completion of the transaction and the transfer of the deed,
the City Clerk is hereby directed to cause recordation of the deed immediately
upon receipt of same in the manner provided by Civil Code Section 1169 et seq.
I hereby certify that the foregoing Resolution was regularly intro-
duced and adopted by the City Council of the City of South San Francisco at
a regular meeting held on the day 19th day of January , 1983,
by the fol lowing vote:
AYES: Councilmembers Ronald G. Acosta, Mark N. Addiego, Emanuele N. Damonte,
Gus Nicolopulos; and Roberta Cerri Teglia
NOES: None
ABSENT: None
City Clerk
e
EXHIBIT "A" TO RESOLUTION
NO. 15-83
DEPOSIT RECEIPT AND CONTRACT TO PURCHASE REAL ESTATE
South San Francisco
January 19, 1983
DATE OF OFFER
, California
1. A deposit in the amount of
denced by check
Mode of Payment
has been received from:
2. City of South San Francisco
or Buyers representative.
twenty thousa.nd and no/100
Dollars ($ 20,000.00) as evi-
·
(Terms of Deposit, if any)
, hereinafter referred to as Buyer
3. On account of purchase price of One hundred ninety-five thousand and no/100 dollars
($ 195,000.00 ) for the following described property, as described in Paragraph 4.
4. All that certain property, together With all the in~provements and appurtenances thereon in the City of South
San Franc. i sco .... County of S_on Mateo , State of,., California
commonly known as and ~nore specifically described to wit:
APN #012-331-050 and APN #012-331-040.
income residential improvements.
5.,, TermsofSale:
...
Two adj'acent 50' x 140' C-2 lots with five (5)
a.' The purchase price shall be paid as follows:
Ail cash to sellers.
b. This offer is expressly conditioned upon satisfaction of the following;
1. Sellers warrant all tenants in rental houses on the lots will be
tg~e~.,,,~adequate notice to vacate properties and properties will
be de~iYe.red vacant to buyers at close of escrow,as tenants rent
under a'~eriodic tenancy, month to month agreement.
2. Properties are to be delivered to buyer at close of escrow in an
"as is" condition without benefit of inspection by a licensed pest
control operator.
on or before February 18, 1983
'It~eclosingshalloccur
Upon failure to satisfy any of the above conditions, unless there is a waiver of the failed condition by the party in whose favor
the condition has been included herein, all deposits hereunder shall be returned to the Buyer, the parties shall be returned to
their original positions as existed prior to this contract, and this contract shall be declared null and void and of no further
effect. Should the party in whose favor the failed condition has been included waive the condition, the contract shall remain
in force as if the condition had never been included herein.
BT5 8-1
6. If Unye,' fails to complete said purclmse as herein provided by reason of any dclhult of Buyer, Seller shall be released
· f(om his obligation ~o sell the property to Buyer and may proceed against Buyer upon any claim or remedy which lie may have
in law or equity' p~'ovided, however, that by placing their initials here ( ~ ) ( _ ) Buyer and Seller agree that
Buyet Seller
it would be impractical or extremely difficult to fix actual damages in case of Buyer's default, that the amount of tile deposit
is a reasonable estimate of the damages, and that Seller shall retain the deposit as his sole right to da~nages.
7. Title is to be free of liens, encumbrances, easements, restrictions, rights and conditions of record or known to Seller
excepting zoning or other governmental regulations, and any other items specifically set forth herein. If Seller is unable to con-
vey a marketable title, except as herein provided, within fifteen ( 15 ) days after acceptance hereof
by Seller, Buyer may, at his option, terminate this agreement and any deposit shall be returned to him, along with reimburse-
ment to Buyer by Seller of any costs of title examination, and tile contract shall be of no further force or effect. Evidence of
marketable title shall be in the form of a ALTA policy of title insurance, paid for by
buyer obtained from Safeco Title Insurance Company insuring title in Buyer subject
only to tile exceptions referred to above.
8. Should the improvement on tile subject property be destroyed or materially damaged prior to transfer of title,
then, upon demand by Buyer, any deposi, t made by Buyer shall be returned to him and this agreement shall be of no further
effect, and Seller shall become obligated to pay all expenses of title examination.
-' 9. Taxes, rentals, premiums on fire insurance acceptable to Buyer, interest on encumbrances, and operating or other
expenses of the property, if any, shall be prorated as of the date of dose of escrow, and Seller shall pay the cost of any
stamps to be attached to the deed in accordance with the requirements of any lawful authority. The amount of any bond
or assessment which is a lien shall be paid~g~~ by seller
10. Possession shall be delivered to Buyer (Strike inapplicable alternatives) (a) on close of escrow,Yc~RJOiiXRlgdOX
11. Buyer's signature hereon constitutes an offer to Seller to purchase the real estate described above. Unless acceptance
hereof is signed by Seller and the signed copy delivered to Buyer, either in person or by mail to the address shown below, within
two ' ( 2 )days, hereof, this offer shall be deemed revoked and the deposit shall be returned to
Buyer.'
12. Ti~ne is of the essence of this contract.
Real Estate Broker: CUSHMAN & WAKEFIELD
OF CALIFORNIA, INC.
2929 Campus Dr±ye, Suite 325
Address' San Mateo, CA 94403
By:
gcott C. Davis
Telephone: (415) 345-1122
The undersigned Buyer offers and agrees to buy the above described property on the terms and conditions above stated
and acknowledges receipt of a copy hereof, which contains the entire understanding regarding the property add, terms of
this offer. ~~.~
Date. February 7, 1983 ·
· "~ ATTEST: x //- MaYor' City of South S~p/Francisco
Aa&ess 400 Grand Avenue' ,
Cit~ Clerk,' City of South San Francisco
South San Francisco, CA 94080
ACCEPTANCE
The undersigned Seller accepts tile foregoing offer and agrees to sell tile property described thereon on the terms and
conditions therein set forth.
The undersigned Seller has employed the Broker above named and for Broker's serwces' agrees to pa3' Broker, as a"com-
mission, the suni of eleven thousand seven hundred ~ ' Dollars ($/5 57~',/'~/),~-') payable as follows:
(a) On recordation of the deed or other evidence of title, or (b) if completion of stile iS~prevented by default of Seller, upon
Seller's default, or (c) if completion of sale is prevented by defa'ult of Buyer, only if and when Seller collects the damages
from Buyer, by suit or otherwise, and then in an amonnt not to exceed one half that portion of the damages collected after
first deducting title and escrow expenses and the expenses of collection, if any.
The undersigned acknowledges receipt of a copy hereof and authorizes Broker to deliver a signed cop3' of it to Buyer.
Further, this Agreement represents the entire udders}adding of the parties.
Dated ~/"~"~D~/'- c(3)"~
Address: _(5 ("_~6"7 t/,' 'r't.,
Telephone: .~-"~ & .~g' 7e /
Broker consents to the foregoing.
Dated'. Februdry 7, 1983