HomeMy WebLinkAboutContracts & Agreements_10-19730-
OPTION TO PURCHASE
FOR AND IN CONSIDERATION OF the sum of xxxxxxxxxxxxx
TWELVE HUNDRED DOLLARS ( $1,200.00 ), payable $300.00
herewith and $100.00 per month beginning
THREE (3) months after date, the undersigned owner(s) of the
hereinafter described premises, hereinafter referred to as Seller(s),
hereby give and grant to LIFE DEVELOPMENT COMPANY , its assignee
or nominee, hereinafter referred to as "Buyer", the exclusive option
to purchase that certain real property situated in the City of
REDLANDS , County of SAN BERNARDINO ,
State of CALIFORNIA , described as follows:
Tax Code No.
169-311-07
169-311-08
169-311-09
Legal Description
Balcom's Addition, South 50 feet, West 8 feet
of Lot 3, Block E.
Balcom's Addition, South 50 feet of Lots 2
and 1, Block E.
Balcom's Addition, North 117.3 feet of Lot 1,
and North 117.3 feet of Lot 2, Block E.
169-311-13 Balcom's Addition, Lot 3, Block E, except
South 50 feet West 8 feet; and the West 12
feet of Lot 4, Block E.
together with all improvements and equipment of Seller(s) thereon, for
a total purchase price of ONE HUNDRED THOUSAND - - - -- - -- - Dollars
f 8100.000.00 )_
This option shall remain in full force and effect to and
including the THIRTIETH day of JANUARY , 1974.
This option may be cancelled by Buyer, at any time after THREE (3)
months have elapsed, by Buyer depositing in the United States mails
thirty days advance written notice of cancellation addressed to Seller(s)
at REDLANDS CITY HALL, REDLANDS, CALIFORNIA
In the event of cancellation, all subsequent option payments due from
Buyer shall be cancelled. This option may be exercised by Buyer's deposit
of written notice of exercise thereof in the United States mails on or
before said date, addressed to Seller(s) at REDLANDS CITY HALL,
REDLANDS, CALIFORNIA
In the event Buyer elects to exercise this option, Seller(s)
agree(s) to convey title to said property to Buyer by good and sufficient
deed, free and clear of all liens, clouds or encumbrances of whatsoever
kind of nature, excepting current taxes not delinquent at time title to
said property crests in Buyer, upon the following terms and conditions:
1. Said sale shall be accomplished through a SIXTY
day escrow which shall be promptly p y prom tl opened with a bank or
title company designated by Buyer after Buyer's election
to exercise this option.
2. The purchase price, less option payments made by Buyer,
shall be paid into said escrow and paid to Seller(s)
(less Seller's share of expenses hereinafter specified)
upon Seller(s) furnishing through said escrow the
following;
(a) 8 good and sufficient deed conveying said real
property to Buyer free and clear of all liens,
clouds and encumbrances of whatsoever kind or
nature, subject only to current taxes not
delinquent.
(b) Standard form policy of title insurance in the
amount of'said purchase price from a reliable
title company showing title called for above
vested in Buyer.
3. 1972 - 1973 City and County taxes shall be prorated
as of the CLOSE OF ESCROW
4. Se3eEs) shall pay Seller's escrow charges and cost of
revenue stamps and of preparing deed. Buyer shall pay
Buyer's escrow charges and costs of recording deed.
shall pay cost of policy of title insurance referred to
above.
5. Buyer may order a preliminary title report and survey
said property and extend said escrow for such time as
Buyer may require to examine said preliminary title
report and have the property properly surveyed, corners
established, description verified and determined proper
and complete. In the event the preliminary title report
reveals any lien, cloud, encumbrance, covenant, condition,
restriction, reservation, right, right of way, easement
or setback unsatisfactory to Buyer, or such survey or
- 2 -
a
description is unsatisfactory to Buyer, Buyer shall have
the right, at its option, to terminate said escrow and
be relieved of all obligations thereunder or under its
exercise of this option (except that Buyer shall pay
i 's escrow charges), and any and all sums of money
deposited by Buyer'in said escrow shall be refunded to -
it.
6. Seller herein shall pay a real estate brokers commission
.Of NONE percent of the principal sales price to
NONE
Dated at Redlands , California
this 27th day of February , 1973.
Ci y of R dlands
By ohn H. Wa r Assistant to CityManager
STATE OF California
County of San Bernardin_9 ss .
On this 27th day of Feb uary, 1973 , in the
year One Thousand Nine Hundred and ree, before me
Martha E. Lewis , a Notary Public in and for the
said County of San Bernardino , residing therein and duly
commissioned and sworn, personally appeared John H. Wagner
personally known to me to be the person whose name is
subscribed to the within instrument and acknowledged that he �.
executed the same freely and voluntarily for the uses and purposes
therein expressed.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official notarial seal the day and year in this certificate first above
Wri f-f-Pn _
-- — ............... .....MAR H .... ..n
-- i
- NOTARY PUBLIC
SAN BERN ARDINO COUNTY
_ CALIFOR14J i
Martha E. Lewis, Notary Public
State of California
In and for the County of San Bernardino
My commission expires Dec. 23, 1974
_ 3 _
717 LA
MAP 804-36-107C PAR. NOA
5'4C .�o.a
I I
e 15 y` 30
MAP 80.4-36-107B PAR N0.4 i a (D MAP 804-36-lb7A
F o (D
o I I------¢------� ----�— -
L> 1 w w O M. R. ONLY ` W
W W I. a MAP 804-36-l070, PAR.NO.2
U) _ U) tMAP 804. 36-JC7C 2 PAR NO. 2
� I ;
D !0 3
to
a " 8 ` 7 'f' 6 �` 5 0� 4 h
(31L.0 C,3 D
ioi.9 Siy� i?GJ6 — — -
RFDLANDS
M. k. ONLY
MAP 948''6-16 PAR. NO 6
= 9 . I 2 3 4 5 6. a W 6 5 , 4 w 3 'r 2 �. I
c e
G
13 I !2 �C m 19 I5
S
.7 O 46 I J8 r 6 (-sz�J 145
7
-;- REDLANDS —(STATE HIGHWAY) --€f — BLVD.
Q607
Por.Bolcom's Add. M.B. 13/4 'Note -Assessor's Blk.
Por. Bolcom BI Sibley's Add. M. a 6/43 Numbers Shown in Cl
Por. Fairbanks El Wiisows Sub. M.8.4/46