HomeMy WebLinkAboutContracts & Agreements_13-1966OPTION
Option made this 22nd Day.of September, 1966, by and
between Ernest R. Larsen and Dorothy A. Larsen, et. al., Herein-
after called "Larsens" and City of Redlands, a municipal corporation,
hereinafter called "City of Redlands",
Witnesseths
Recitals
1. Larsens are the owners of that certain parcel of real
property, containing 1.21 acres, more or less, planted to citrus
trees, situate in the City of Redlands, County of San Bernardino,
California, and more particularly described as:
All that portion in the southwest- of Section 13
Township 1 South, Range 3 West S.B. B&M-in the City of Redlands,
County of San Bernardino, State of California, described in whole
as follows:
Commencing,at the Northwest Corner of the Southwest
of the Said Section, thence Southerly along the West line of Said
Southwest 2 of Section 13, S 0° 321 14" E 100 feet to the True
Point of Beginning.
Thence N 86° 19, 17" E 1802.78 feet to the North lane
of the Said Southwest of Section 13, thence N 89° 301 34" E
along the Said North line 314.81 feet, thence S 85' 271 08" W,
2120 feet to the West line of Said Southwest i-, thence N 06'322 14" W
along the Said West line 50 feet to the True Point of Beginning.
Covenants
Now, therefore, it is hereby mutually agreed as followss
FIRST: Larsens agree to sell to said City of Redlands and
said City of Redlands agrees to buy from Larsens the 1.21 acres of
property described in paragraph 1, above, for the amount hereinafter
stated and referred to as "Purchase Price", upon the terms and
conditions herein stated.
SECOND: The Purchase Price for said 1.21 acres of property
will be a price to be agreed upon by Larsens and the City of Redlands,
or if not agreed upon, the Purchase Price will be that established by
the results of an appraisal made by A� F dTetz bvK,t 1:. S`r-AlE 57:,
SIPA�01a,As Chy, . , The cost of this appraisal will be shared
continued
equally by the Larsens and the City of Redlands.
THIRD: The term of this option to purchase Sall be from
September 22, 1966 to July 1, 1967, Option to purchase may be exer-
cised by City at any time during this period,
FOURTH: Subsequent to the exercise of the option to
purchase property and the closing of the escrow, City agrees to permit
Larsens to continue to farm the property without charge for the pur-
pose of raising citrus crops, The City also agrees to gave Larsens one
hundred and eighty (180) days notice when the use of the property
is required by the City, and that the raising of citrus crops must
be discontinued.
FIFTH.: At the time of exercise of the option by the City,
a 60-day escrow will be entered into, The Larsens will furnish the
customary policy of title insurance and will pay the usual seller's
charges and one-half the escrow fees; the City will pay the usual
buyerb charges and one-half the escrow fees. Property taxes will be
prorated to date of close of escrow.
In witness whereof, the parties have hereunto set their
respective hands the day and year first a
Approved for Form:
City Attor ey
written.
Ernest R. Larsen.,
City of Redlands:
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