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Home My Public Portal About87-082 (06-02-87)RESOLL7PION NO. 8 7- 8 2 A RESOLUTION OF THE CITY ~UNCIL OF THE CITY OF LYNWOOD APPROVING THE PURCHPSE OF CERTAIN RE11L P1~PERTY FROM THE DEPAR'IMENP OF TRANSPORTATION OF 'IHE STATE OF CALIFC~RNIA Wf~REAS, on September 2, 1986, Council approved the purehase of excess CAL'IRANS properties for parkland development for an a~unt 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 Wf~REAS, the aa;uisition by the City of the CALTRANS excess property as shown on the fonn attached hereto as Exhibit A is necessary for a site for parkland purposes; and Wf~REPS, CALTRANS has completed appraisal on the surplus parcel and has offered to sell it to the City for $32500.00; and WHEREAS, CALTRIINS requires a down pay[[~ent of ten percent (10%) of the total sales price, said down payment being $3250.00 be sulxnitted; and ' WHEREAS, the City intends to utilize the property for park purposes; and WE~REAS, the City is utilizing CDBG funds for the purchase of the excess parcel; NOW, Tf~REEORE, 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 $3250.00 for the aa;uisition of the CALTRANS excess property for parkland develop~nt and the remaining balance of $29, 250.00 when due as follows: Required Parcel 'Ibtal Cost Ibwnpayment DD 058489-01-01 $32500.00 $3250.00 Section 2. The City Council directs and authorizes staff to take all appropriate action to effectuate the acr;uisition and authorize the Mayor to execute all required aaIuisition docLmients. PASSED, APPRO~IED and ALY~PTED this 2nd day of ,Fune 1987. ' ~~//~~ --- ~// y__ P H. RICIIARAS II, Mayor City of Lynwood ~/l ~'`-~~~~/) i J'i~~~ ~/C26~ /~dP ANDREA L. HOOPER, City Cle v1CEN'I'E L. MAS, Director, City of Lynwood Comnunity Developm~nt Department APPROVE~J AS 7l~ ~RM: NOTED AS 'Il~ CONTENT: ~E~~ .n~ ~it~IL~.. ~py C'ty CoLmsel Accoun 'ng Manager ~=~x. STATE OF CALIET~RNIA ) ) SS. O~UNTY OF IJJS AN(3ELES ) I, the imdersigned City Clerk of the City of Lynwood, do hereby certify that the foregoing resolution was passed and adopted by the City of Lynwood at a regular meeting held on the 2nd day of June , 1987_ AYES: COUNCILMEMBER BYORK, HENNING, MORRIS, 1VELLS, RICHARDS NOES: NONE ABSINT: NONE ( C~,~"~'~ Q~~ -~-L~-l 1 City Clerk, City of~Lynw~ STATE OF CALIFI~RNIA COUNTY OF L(JS ANGELES SS. I, the imdersigned City Clerk of the City of Lvnwood, and Clerk of the Citv Council of said City, do hereby certify that the above and foregoing is a full, true and correct copy of Resolution No. g7-$Z on file in my o£fice and that said resolution was adopted on the date and by the vote therein stated. I~ted tMs 3rd day of June , 1987. 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I'~~ < ~ 1 ~ ~ o A o N , L__ \~ ~ ~ ~ , ~ J ~ ~ a ~ ~ ', ~ ~ N • ~ ''-i '. > ~ _-+ '^ z - y ~ o " - ~ ' _ "_- O ~ , + ~ O-J o ! ` ' ~.~ ~ J I _- _~ 3 / = V e° y ~.. /,s~" ~~~ ~ - O ,- ° as.+±.p - __ b ~ ._.-_ ~ w . '~T W 1 ~ ' ~' ~r~ \ ~ ` y/" ' y ` o o P /NSy. ~M~ ~ O ~ _ ~ ' ^ ~ i' ' a~ ~, " • ~ry ~`y . ~ T ` _. ~~ _ . ' l1 _~-1_ w~~ y r y-- ~ y o i 3 . } ~ 7 ~ ~ ,i.~ ,~~ _ . ~_ a ~~ , . / ~ k~;" . \O ` `- ~-- YR s *~ ° ( sN~~.• T~ J lt~rlr , 'Y ~ a. t =3~ .. ~ ~ ~ ~ I ~~ F I ;>r • ,, y ~ P~ 9~GEG To BE ~ ~ +e 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 by and between ~ hereinafter know as BUYER and STATE OF CALIFORNIA, DEPARTMENT OF ' TRANSPORTATION, hereinafter known as SELLER, the parties agree as follows: For the sum of thirty-two thousand five hundred and no/100 dollars ($ 3Z,500.00 ), Buyer hereby agrees to purchase and Seller hereby agrees to sell the real property commonly known as Northeast corner of Louise Street and Nichols Avenue Citv of Lvnwood and lega ly described on Director's Deed No. DD 058389-01-01 , a copy of which is attached hereto. Subject to the follor~ing 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 $ 3,250.00 as a deposit on said proQerty. The remainder of the purchase price in ~ the amount oE $29,250.00 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 Transportatio 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 agzeed 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 fees, documentary stamp tax and monumentation fees chargeable by t.he 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, ali monies heretofore paid by the Buyer wi31 be refunded without interest thereon. - 1 - Ex/L 2/82 V 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 b 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 shali 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 Please indicate exactly how title is to be vested CITY OF LYNWOOD The terns and conditions of the above agreement a~-e hereby accepted, subject to the approval of the California Transportation Commission. 1~'"~C_~/ '~ AN QUAN Department of Transportation Right of Way Agent Excess land Sales Phone (213)620- 3717 JQ:ivs