HomeMy Public PortalAbout87-016 (02-03-87)RESOLUTION NO. 87-16
A RESOLUTION OF THE CITY COUNCIL OF I'F?E- CITY
OF LYNWOOD APPROVING THE PURCHASE OF CERTAIN
REAL PROPERTY FROM THE DEPARTMENT OF TRANS-
PORTATION OF THE STATE OF CALIFORNIA
WHEREAS, on September 2, 1986, Council approved the purchase
of excess CALTRANS properties fir parkland development for an amount
not to exceed one million dollars; and
WHEREAS, CALTRANS has offered to sell surplus properties to
the City as appraisals are completed, at Fair Market value for public
purposes; and
WHEREAS, CALTRANS has completed appraisals on a surplus
parcel and has offered to sell it to the City for $1000; and
WHEREAS, CALTRANS requires that a down payment of ten
percent (l0i) of the sales price, $100, be sulsnitted by February 6,
1987; and
WHEREAS, the City is utilizing CDBG funds for the purchase
of said surplus CALTRANS properties.
NOW, THEREFORE, the City Council of the City of Lynwood does
hereby determine, order and resolve as follows:
Section 1. Approve the ten percent down payment for the
acquisition of the CALTRANS properties for parkland development
totalling $100, and the remaining balance of $900 when due as follows:
Parcel
058340-O1-Ol
Total Cost
$1000
Required
Down Payment
$100
Section 2. Approve the execution of the attached purchase
sales agreement.
1987.
PASSED, APPROVID and ADOPPED this
3rd day of February
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PAUL H. RICHARDS II, Mayor
City of Lynwood
A EST: ~( ~~p ~~~~
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ANDREA L. HOOFER, City Clex~c-
City of Lynwood
APPROVID AS ICJ CONTENT:
VICE L. MAS, Director
City of Lynwood
APPROVID AS ~ RM: \ NOTID AS 'IY) CONTENT:
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General Counsel Accoun$1ing Manager ~
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STATE OF CALIFORNIA )
ss.
~il1PIY OF IlJS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood,
do hereby certify that the foregoing resolution was passed and adopted
by the City Council of the City of Lynwood at a regular meeting held on
the 3rd day of February 1987-and passed by the following vote:
AYES: MEMBERS BYORK, HENNING, MORRIS, WELLS, RICHI~RDS
NOES: NONE
ABSENT NONE
ANDREA L. HOOPER, City Cle t
City of Lynwood
"'1
I
I
P U R C H A S E S A L E F. G R E E M E N T
FULL PAYMENT
In this agreement dated
12-15-86
by and between
CITY OF LYNWOOD
hereinafter know as BUYER and STATE OF CALIFORNIA, DEPARTMENT OF
TRANSPORTATION, hereinafter known as SELLER, the parties agree as
follows
For the sum of ONE THOUSAND
dollars ($ 1,000.00 ), Buyer hereby agrees to purchase and
Seller hereby agrees to sell the real property commonly known as
PORTIONS OF LOTS 1343 THROUGH 1355 OF TRACT NO. 3351
and legally described on Director's Deed No. - 1- ,
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 $ 100.00
as a deposit on said property. The remainder of the purchase price in
the amount of $ 900.00 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 b_;~ the California Transportation
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 recor~_nc fe=s, documentary stamp
tax and monumentation fees chargeable by -he County Recorder. At a
later date, the Seller will request that =here lees be forwarded.
IV
In the event the California Transportatio-~ Ccc~mission fails to approve
this sale, all monies heretofore paid by ...e Bu~~~er will be refunded
without interest thereon.
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Ex/L
2/82
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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 wi]7
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. i
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 tc 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.
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The Buyer agrees that title ro the- props-rty being conveyed shall nc~t
pass until the purchase price has been ~~a;d in full and that Buyer
shall have no use of the property unti; the Director's Deed has been
recorded.
The Buyer hereby agrees to the abov: +e--.= and conditions of sale.
dare
~s
Please indicate exa :,, i,ow title ,~ tv ba vested
CITY OF LYNWOOD
The terms and conditions of the above agreement are hereby accepted,
subject to the appro~;al of the Califer-._a 7rar.sport.ation Commission.
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PHILLI~P N. BRIERIJ~
Department of Transportatic;:
Right of Fray Agent
Excess land Sales
Phone 1213iE10- 3757
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