HomeMy WebLinkAboutReso 2781-1959RESOLUTION NO. 2781
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTH
SAN FRANCISCO AUTHORIZING LISTING FOR SALE OF LOTS 3 AND 4,
BLOCK 1, LOMA LINDA TERRACE
WHEREAS, the public interest and convenience requires that the City of South
San Francisco sell and dispose of Lots 3 and 4, Block 1, Loma Linda Terrace, South San
Francisco, California, for the common benefit, and
WHEREAS, said City Council has heretofore twice called for bids without
effecting a sa1e, and
WHEREAS, said City Council now finds that 'the listing of said lots for sale
is the most feasible means of effecting a sale for the market value of said lots.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South
San Francisco does hereby authorize City Manager Eugene'Aiello to list Lots 3 and 4,
Block 1, Loma Linda Terrace~ South San Francisco, for sale for a net price to said
City of South San Francisco of THREE THOUSAND AND 00/100 DOLLARS ($3,000.00) each or
total of SiX THOUSAND AND 00/100 DOLLARS ($6,000.00).
BE IT FURTHER RESOLVED that said listing be made pursuant to standard list-
ing agreement used by realtors in San Marco County, except that where any special pro-
visions required herein shall differ,, said provisions shall be inserted in lieu of
listing agreement provisions.
BE IT FURTHER RESOLVED that the following special provisions shall be in-
serted in the li~ting agreement:
1. Buyer sha~pay net price per lot plus broker's commission.
2. Buyer shall deposit ten percent (10%) of purchase price in cash or certi-
fied check at the time of submitting the offer and, upon its acceptance by the City
Manager, shall deposit balance of the .purchase price by 12 o'clock noon the day after
receiving notice of its acceptance. Should Buyer fail to so deposit the balance of
the purchase price, City Manager is authorized torescind the sale and retain the deposit
as liquidated damages and City shall be.released from any and all obligations in law and
equity to convey said property to Buyer.
3. Marketable title shall be evidenced by a policy of title insurance issued
by Western Title Insurance Company or San Mateo County T~ le Insurance Company paid for
by the Buyer.
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 this 4th day of May, 1959, by the following vote:
AYES,
Councilmen Andrew Rocca, G. J. Rozzi, Emilio Cortesi, Le9 J. Ryan
and Patrick E. Ahern
NOES~ None
ABSENT, None
ATTEST:
ARTHUR A. RODONDI
CITY CLERK