HomeMy WebLinkAboutReso - CC - 018-1970RESOLUTION NO. 18-70
AUTHORIZING EXECUTION OF DEPOSIT RECEIPT (Lot 12, Block 46, LYON
& HOAG Subdivision)
RESOLVED, by the City Council of the City of Burlingame,
California, and this Council does hereby FIND, ORDER AND DETERMINE
as follows:
1. The public interest, necessity and convenience requir
the acquisition and purchase of the real property together with
the improvements thereon, described in the title of this resolu-
tion.
2. The City Manager be, and he is hereby authorized and
directed to execute a Deposit Receipt for the purchase of said
real property, together with the improvements thereon, in the form
and subject to all of the terms, covenants, conditions and agree-
ments set forth in the copy of Deposit Receipt attached hereto,
incorporated herein, and made a part of this Resolution by refer-
ence.
3, The City Clerk is hereby ordered and instructed to
attest said signature.
17,
Mayor
I, Herbert K. White, City Clerk of the City of Burlingame
do hereby certify that the foregoing Resolution was introduced at
a regular meeting of the City Council held on the 16th day of
March 1970, and adopted thereafter by the following
vote:
AYES: Councilmen: Amstrup-Crosby-Johnson-Martin.
NOES: Councilmen: None
Absent Councilmen: None
ty
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Renlwrs
Frederick W. Smith, Broker
49 `Park `Road
Burlingame, (?alifornia
Telephone 344.1745
Unlimited Parking
RECEIVED
DEPOSIT RECEIPT
City of Burlingame
..--- .... .... February ...ii....._........ 19 --- Z.
;k, to be deposited
scat.acceptance..-..)..............($..5D0.00---->........) n ars
i, co Ill..-------------------------- ......._
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sold to port ser, and subject to ine seller's approval qc,
situate in the City of.... ----Burlingame..........................County of_ -------- S.arl.l.ViatEa........ .............................
I% `%�\
State of California, bounded and more particularly described as follows, to -wit:— J
the sum
deposit
of
legal tender, the purchase price of the property this 1
Lot 12, Block 46, Lyon & Hoag Subdivision, Town of Burlingame together with all
improvements thereon and more commonly known as 209 North Humboldt, Burlingame,
California.
Subject to restrictions, reservations and easements as of record. Free and clear of all
encumbrances other than current taxes and terms of sale.
TERMS OF SALE: CASH.
The City of Burlingame, as Purchaser, agrees to accept the above described property, including
the improvements "As Is" and hereby acknowledges that said property has been inspected and
is being purchased by the City upon the reliance of the City Official's observations and not
upon any representation made by, or on behalf of, the sellers or by the undersigned Real
Estate Agent.
Subject to the approval of the City Council of the City of Burlingame at its first
regular meeting after acceptance of this offer by the seller.
CONDITIONS OF SALE: -------- 3.0..............days from the date hereof are allowed the purchaser to examine title and consummate sale; at
the expiration of said time the balance of said purchase money is due and payable Davis & Clifton, for said owner, upon tender of a
properly executed ackowledged deed of the property sold. If title Is defective seller shall use all due diligence to remove the defects
within ninety (90) days from notification to him of said defects, and if, after the expiration of said time, unless extended by mutual
consent, the title is incurably defective, then the deposit is to be returned. That if the improvements on said property are destroyed
or materially damaged between the date hereof, and consummation or settlement of this purchase, this contract shall at buyer's
election immediately become null and void and said deposit shall be returned to said buyer on demand. Purchaser has the right at
his option to cure the defects in title if seller does not, and purchaser shall be allowed a reasonable time so to do. If the sale is not
consummated in accordance with the foregoing condition, the deposit is to be paid to seller as liquidated damages, and not as a
penalty (one-half of said deposit to go to agents in consideration of services rendered, provided same shall not exceed the full amount
of the commission) ; nevertheless, buyer and seller, as against each other, are each entitled to specific performance upon compliance
with the above terms. The time for any act required to be done, may be extended not longer than thirty days by Davis & Clifton.
The buyer will accept a Title Insurance Policy, if issued by any Company incorporated in the State of California for the purpose of
doing Title Insurance business, but the cost of such policy or the cost of continuing any abstract furnished and examining title, shall
be paid by the purchaser. Sale to be consummated at the office of Davis & Clifton, or a Title Insurance Co.
That the faxes for the current fiscal year, interest and rents, shall be pro -rated from date of closing transaction. Insurance shall
be pro -rated as above, or cancelled at the option of the purchaser.
That any existing street assessments and/or street improvement bonds are to be paid by the .....................Selle_r.
This deposit is received subject to the approval of the owner.
Time is the essence of this contract. AVIS & CJAFTON
'
�L
By----- • ----- - ------
y�'e. Frederick �ti:-�Senith ... - -- - -
xI, the said ..-------......City.af.Burlingame ............... ....... ........................................................ hereby agree to purchase
the above described property, and to comply with all the conditions herein contained.
�1 j�(
Address. - --------------------
Telephone
----------...----------------------------------------------------------- 1 / . _ � f -,
I hereby approve the sale of the property above described upon the terms and conditions herein contained, and
agree to pay DAVIS & CLIFTON the real estate commission
Address----------------------------------------
Telephone...
March 12, 1970
Memo to Council:
Re: Purchase of Humboldt Avenue Lot
for Victoria Parts
The owner is willing to accept the offer of
$13,250 for the Humboldt lot adjacent to Victoria
Paris. It is recommended that the necessary legis-
lation be passed to accept this property. /
Charles F. Schwalm
CFS/gf