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Home My Public Portal About87-108 (07-07-87)RESOLUTION NO. 8 7 - 10 8 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING THE PURCHASE OF CERTAIN REAL PROPERTY FRCM THE DEPARTMENT ' OF TRANSPORTATION OF THE STATE OF CALIFORNIA WHEREAS, on September 2, 1986, Council approved the purchase of excess CALTRANS properties for parkland development for an amount not to exceed one million dollars; and WHEREAS, CALTRANS has offered to sell surplus property to the City at fair market value for public purposes; and WHEREAS, the acquisition by the City of the CALTRANS excess property as shown on the form attached hereto as Exhibit A is necessary for a site for parkland purposes, and WHEREAS, CALTRANS has canpleted appraisal on the surplus parcel and has offered to sell it to the City for $286,500.00; and WHEREAS, CALTRANS requires a down payment of ten percent (10 %) of the total sales price, said down payment being $28650.00 for park purposes; and WHEREAS, the City is utilizing CDBG funds for the purchase of the excess parcel. NOW, THEREFORE, the City Council of the City of Lynwood does hereby determine, order, and resolve as follows: Section 1 . The City Council approves the ten percent down payment of $28650.00 for the acquisition of the CALTRANS excess property for parkland development and the remianing balance of $257,850.00 when due as follows: Required Parcel Total Cost Downpayment 58306- 01- Ol'thtu -01 -01 $286500.00 $28650.00 62210 -01 -01 61652 -01 -01 61653 -01 -01 Section 2 . The City Council directs and authorizes staff to take all appropriate action to effectuate the acquisition and authorize the Mayor to execute all required acquisition documents. PASSED, APPROVED and ADOPTED this 7th day of July 1987. PAUL H. RICHARDS II, Mayor City of Lynwood ATTEST: ANDREA L. HOOPER, City Cler City of Lynwood r Ci r 2ounsel STATE OF CALIFORNIA COUNTY OF LOS ANGELES SS. V ENTE L. MAS, Director, Community Development Department I�i� •• :`re�Ti.il� Y��W ,� counting Manager I, the undersigned City Clerk of the City of Lynwood, do hereby certify that the foregoing resolution was passed and adopted by the City of Lynwood at a regular meeting held on the 7th day of July 1987. AYES: COUNCILMEMBER BYORK, HENNING, MORRIS, WELLS, RICHARDS NOES: NONE ABSENT: NONE STATE OF CALIFORNIA ) SS. COUNTY OF LOS ANGELES ) City Clerk, City of Lynwood I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council of said City, do hereby certify that the above and foregoing is a full, true and correct copy of Resolution No. 87 -108 on file in my office and that said resolution was adopted on the date and by the vote therein stated. Dated this 3rd day of August 1987. 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'xin•s•n �� .i p !T 13 I371 1527 3 .8 -0' / �' .• — 137 " LL, 830 Is74 1373 •O 3 ' � 1_ , �w 9�Qi :., it •� oi" N 3 - ai4CEI G4GNIO4 OR a TCT • CCO4piN a e REA NO OP{MiEE ♦CO EaCES510L1 Nsi OiiE G- Z / JC769 Fo.�Infai'.nohon Sac F11S 1-2 1 Blrs r s/•Ja_as'[ 1 _ MATAECE 6502 5702 6302 /9 BS - /� -- Ip pETgll �� ` -' Nc Sole �o�ISE P U R C H A S E S A L E A G R E E M E N T FULL PAYMENT In this agreement dated June 1, 1987 by and between nerelnatter know as BUYER and STATE OF CALIFORNIA, DEPARTMENT OF TRANSPORTATION, hereinafter known as SELLER, the parties agree as follows: — For the sum of Two Hundred Eighty -Six Thousand Dollars y t dollars ($ 286,000.00 ), Buyer hereby agrees to purchase and Seller hereby agrees to sell the real property commonly known as Thirteen (13) Lots West of Fir Street known as Parcels 58036 -01 -01 throu -h 58317 -01 -01 and Parce 72261 -0 and legally described on Director's Deed No. 05830 -01 -0 a copy of which is attached hereto. Subject to the following conditions: I All sales are made subject to the approval of the California Transpor- tation Commission. II Tendered with this agreement is a check in the amount of $ 28,650.00 as a deposit on said property. The remainder of the purchase price in the amount of $ 257 shall be paid within 30 days from the date of the demand from the Seller. Said demand shall be made, in writing, following approval of the sale by the California Transportatior Commission, at the time the fully executed Director's Deed is available for delivery and recordation. In the event the Buyer fails to pay the balance owing on demand, it is agreed that the sale may be cancelled by written notice and that the Seller may retain the deposit as an offset against its actual damages and expenses in processing this transaction. III The buyer agrees to pay any and all recording fe>s, documentary stamp tax and monumentation fees chargeable by the County Recorder. At a later date, the Seller will request that these fees be forwarded. IV In the event the California Transportation Commission fails to approve this sale, all monies heretofore paid by the Buyer will be refunded without interest thereon. - 1 - Ex /L 2/82 LVA It is expressly understood by the Buyer that the right, title and interest in the property to be conveyed shall not exceed that vested in the State of California and that no policy of title insurance will be furnished by the Seller. If a policy of title insurance is desired, the Seller will obtain one, upon request, at the Buyer's expense. The property is being conveyed subject to any special assessments, restrictions, reservations or easements of record and subject to any reservations contained in the Director's Deed. Buyer may examine any information the Seller has relative to these matters. VI The Seller is willing to process this sale at no charge to the Buyer, except as set forth in paragraph III above, or the Buyer, at his option may open an escrow at his own expense. No escrow fees will be paid by the Seller. VII The Buyer agrees that title to the property being conveyed shall not pass until the purchase price has been paid in full and that Buyer shall have no use of the property until the Director's Deed has been recorded. The Buyer hereby agrees to the above terms and conditions of sale. date 7 Please indicate exactly how title is to be vested CITY OF LYNWOOD The terms and conditions of the above agreement are hereby accepted, subject to the approval of the California Transportation Commission. JOHN W. DIXON Department of Transportation Right of Way Agent Excess land Sales Phone (213)620 -3625 1