HomeMy WebLinkAboutContracts & Agreements_36-1973/6l/y`-73
73
CONTRACT OF CITY OF REDLANDS
TO ACQUIRE REAL PROPERTY FOR
PUBLIC USE
THIS INDENTURE, by and between ROBERT G. CAMPBELL
AND RITA H. CAMPBELL husband and wife, as joint tenants as
to an undivided one-half interest; and ROBERT K. SCHOLTON
AND LOIS E. SCHOLTON husband and wife, as to an undivided
one --half interest, hereinafter referred to as "Campbell",
and the CITY OF REDLANDS, hereinafter referred to as "City",
is made and entered into this
1973.
1st day of October
FOR AND IN CONSIDERATION of the covenants, promises
and agreements herein contained, Campbell and City agree as
follows:
1. Property
Campbell for and in consideration of the amounts
herein reserved and agreed to be paid by City and
in further consideration of City's performance of
the covenants and agreements herein contained,
hereby .lets to City the reel property situated in
the City of Redlands, County of San Bernardino,
State of California, described as follows:
The North 70 feet of Lot 3 in Block "B" of
Smiley Addition, in the City of.Redlands,
County of San Bernardino, State of California,
as per plat recorded in Book 13 of Maps,
page 31, records of said County.
Said real property shall be referred to herein as
`premises".
2. Remedies Upon Default
1n the event of a default by City, and its failure
to remedy such default within thirty days after
written notice from Campbell to do so, the parties
agree to an alternative remedy to any other remedies
available to Campbell_ as follows;
Campbell may at his option enforce the terms
of this agreement from time to time and/or
file suit for the payment of said delinquent
rental or for damages or for the performance of
any such covenant or agreement or condition,
and/or Campbell in addition to other rights
and remedies reserved to him by law, may with-
out notice to quit or other formality, re-enter
the premises and take full possession thereof.
No re --entry of said premises by Campbell shall
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be construed as an election to terminate,
unless written notice to that effect is de-
livered by City and all rights, powers, options
privileges and remedies herein expressly given
to Campbell shall be cumulative to each other
and to any other legal or equitable remedy,
right, power or privilege which Campbell might
otherwise have in the event of any default by
City, and no option, right, power, remedy or
privilege of Campbell shall be construed as
being exhausted or discharged by the exercise
thereof in one or more instances, and it is
agreed that each and all of the rights, powers,
options, or remedies shall be cumulative and
no one of them exclusive of any remedy provided
by law. The City shall pay interest on all
delinquent amounts and on all other sums which
it is or may become obligated to pay under the
terms of this lease from the date when the same
become due until paid.
3. Pa eats
City agrees to pay and Campbell agrees to accept
as rental for said premises, during the term hereof,
a semi-annual rental of $611.25 . The first rental
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payment of $3,140.00 shall be made on, the first
day of October, 1973; regular rent payments there-
after shall be made in even amounts of $ 611.25
each year on the lst day of April and the lst day
of October, beginning the lst day of April, 1974.
All of said amounts shall be paid for and in con-
sideration of the continued quiet use and enjoyment
thereof during each period for which said regular
rental is to be paid. Amounts in addition to the
regular rent provided herein may be paid in advance
at any time and applied to future additional rental
obligations and the parties may mutually agree upon
a revised schedule of payments. The term hereof shah.
be 20 years, beginning October 1, 1973, unless sooner
terminated, by exercise of option.
4. Covenants of City
The City covenants and agrees with Campbell as follows;
(a) To use premises for lawful purposes only.
(b) To pay the rents herein specified.
(c) To maintain premises and improvements (dwelling)
and make all replacements and repairs necessary
to premises and improvements during the term
hereof, ordinary wear and tear excepted.
(d) To pay for all gas, electricity, light, heat,
power, water and other service or utility
used on or supplied to said premises.
(e) To pay all real and personal taxes and assess-
ments on or in respect to said premises, and/or
improvements and/or leasehold, any and all
installments of special assessments against
said premises and/or improvements, which become
due and payable during the term hereof, and
license fees or taxes imposed by the City on
any lessor by reason of its engaging in the
business of leasing said premises to the City,
and all insurance premiums for policies re-
quired under the provisions of this lease.
The tax bill for 1973--74 will. be prorated,
Campbell paying taxes accrued to October 1, 1973,
and City paying taxes due on and after October 1,
1973.
(f) To obtain, and maintain in force during the
term of this lease an insurance policy or
policies insuring Campbell for fire and ex --
tended coverage, and for public liability
insurance against bodily injury and property
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f
damage, a certificate of said insurance to be
furnished Campbell. All required insurance
shall be carried with insurance companies
selected by the City and licensed to do
business in the State of California. A renewal
policy shall be procured not Less than ten days
prior to the expiration of any such policy.
The policies of insurance as above provided or
certificates of the insurers evidencing in-
surance carried on or respecting the premises
hereby leased shall be forthwith deposited with
the lessor. Nothing in this lease contained
shall prevent either party from obtaining addi-
tional insurance at its own expense.
(g) To discharge any mechanic's .lien or liens filed
against the leased premises for work done by
or for, or materials furnished to City, forth-
with or within a reasonable time thereafter,
by paying the amount of the lien or litigate
the same with due care and diligence to a final
judgment or decree from which there is no appeal.
In the event such judgment or decree upholds
said lien in whole or in part, lessee shall
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forthwith pay the same.
5. Covenants of Campbell
Campbell covenants and agrees with City:
(a) That Campbell will remove all existing encum-
brances or liens upon the property forthwith
and will permit no encumbrances or liens upon
his title to the premises subsequent to the
date of this contract, and that Campbell has
the right and authority to execute this lease,
and agrees that City, upon paying said rent,
and performing the covenants of this lease,
shall quietly have, hold and enjoy the demised
premises during the term hereof.
(b) That City shall_, at its own expense, have the
right to make installations, changes and im-
provements upon said leased premises as may be
necessary for Ci_ty's purposes.
(c) That City may assign this lease or sublet the
said premises or any part thereof for any lawful
purpose, but shall remain liable for the per-
formance of its covenants hereunder.
6. Option to Purchase
Campbell does hereby give, grant and convey to City
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the right and exclusive option to purchase the said
site for the terms and in the manner provided in
the schedule attached to this contract as Exhibit "A°
and incorporated by reference as a part hereof. At
any time City may desire to exercise one of the
above options can a date specified in Exhibit "A",
or at an earlier time in which event the amount of
the option shall be adjusted on a pro rata basis,
the City shall deposit the amount thereof in escrow
and said escrow shall be conditioned on the conveyance
of the said site to the City subject only to any
liens or encumbrances incurred, permitted or suffered
by City, and furnishing by Campbell of a standard
form policy of title insurance in the amount of the
purchase price, showing title to said property to
be so vested in City within sixty days after the
option date. The escrow costs shall be divided
equally between Campbell and City. A policy of
title insurance in the sum of Fifteen Thousand Seven
Hundred Dollars ($15,700) will be furnished the City
and shall be paid for by Campbell.
7. Assignment
With the written consent of the City, Campbell may
assign his interest hereunder, or transfer such
interest in trust as security. Campbell notwith-
standing any assignment of his interest, as provided
herein, shall at all times remain bound to perform
all covenants, conditions, and agreements of Campbell
hereunder except as hereinafter provided in this
paragraph. After acceptance by City of possession
and upon an agreement being entered into between
City and a responsible assignee of Campbell whereby
said assignee agrees to be bound to perform all
covenants, conditions and agreements herein provided,
assignor shall_ be released from any further_ obligations
under this lease.
8. General Conditions of Agreement
Each and all of the terms and agreements herein
upon
contained shall be binding/and inure to the benefit
of the successors in interest of Campbell and the
City respectively. It is hereby covenanted and
agreed that time is of the essence of this agreement
except where otherwise expressly provided. There
are no covenants and warranties other than those
expressed herein, other than the warranty of title.
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9. Notices
Any notice or communication in connection with
this agreement including the City's notification
of full compliance therewith and request for a
deed to premises, shall be sent to the following
addresses:
City of Redlands
City Hall
P. 0. Box 280
Redlands, California 92373
Mr. and Mrs. Robert G. Campbell
221 West Mariposa.Drive
Redlands, California 92373
Robert
G. ,Campbell
jI
Rita H .
Campbell
Py
Robert
K. Scholton
Lois E.
Scholton
ATTEST:
City leek (L IJ .1/,
APPROVED FOR FOP
City Attornel
CITY OF REDLANDS
P .• Merritt, Jr.
Title City Manager
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EXHIBIT A
1. The option shall be to purchase premises an October 1,
1974, and the purchase price shall be $12,274.24.
2. The option shall be to purchase premises on October 1,
1975, and the purchase price shall be $11,966.64.
3. The option shall be to purchase premises on October 1,
1976, and the purchase price shall be $11,635.55.
4. The option shall be to purchase premises on October 1,
1977, and the purchase price shall be $11,279.15.
5. The option shall be to purchase premises on October 1,
1978, and the purchase price shall be $10,895.53.
6. The option shall be to purchase premises on October-1,
1979, and the purchase price shall be $10,482.59.
7. The option shall be to purchase premises on October 1,
1980, and the purchase price shall be $10,038.11.
S. The option shall be to purchase premises on October 1,
1981, and the purchase price shall be $9,559.66.
9. The option shall be to purchase premises on October 1,
1982, and the purchase price shall be $9,044.66.
10. The option shall be to purchase premises on October 1,
1983, and the purchase price shall be $6,490.30.
11. The option shall be to purchase premises on October 1,
1984, and the purchase price shall be $7,893.59.
12. The option shall be to purchase premises on October 1,
1985, and the purchase price shall be $7,251.29.
Exhibit A
page 2
13. The option shall be to purchase premises on October 1,
1986, and the purchase price shall be $6,559.91.
14. The option shall be to purchase premises on October 1,
1987, and the purchase prase shall be $5,815.71.
15. The option shall be to purchase premises on October 1,
1988, and the purchase price shall be $5,014.65.
16. The option shall be to purchase premises on October 1,
1989, and the purchase price shall be $4,152.38.
17. The option shall be to purchase premises on October 1,
1990, and the purchase price shall be $3,224.22.
18. The option shall be to purchase premises on October. 1,
1991, and the purchase price shall be $2,225.15.
19. The option shall be to purchase premises on October 1,
1992, and the purchase price shall be $1,149.74.
20. The option, shall be to purchase premises on October 1,
1993, and the purchase price shall be $ -0-.
The option amounts may be revised in the event the City
of Redlands elects to exercise any option sooner than the date
set forth herein. in such case, the City shall pay an amount
determined by reducing the next succeeding option in accordance
with the same pro -rate method by which the options on Exhibit A
were computed on the date of the execution of this agreement.
FOR INFORMATION ONLY
PROPERTY LEASE -PURCHASE AT 80 EUREKA
DOWN PAYMENT AIM PAYMENT SCHEDULE
Purchase Price ...................................... $15,700.00
Down Payment (20%) 10/l/73 .......................... $ 3,140.00
Balarice Due ......................................... $12,560.00
Payment
74/
Principal
Balance After
Due
Interest
Payments
_-Payment
4/1/74 $611.25
$471.00
$140.25
$12,419.75
10/1/74
465.74
145.51
12,274.24
4/l/75
460.28
150.97
12,123.27
10/l/75
454.62
156.63
11,966.64
4/1/76
448.75
162.50
11,804.14
10/1/76
442.66
168.59
11,635.55
4/1/77
436.33
174.92
11,460.63
10/1/77
429.77
181.48
11,279.15
4/1/78
422.97
188.28
11,090.87
10/1/78
415.91
195.34
10,895.53
4/l/79
408.58
202.67
10,692.86
10/1/79
400.98
210.27
10,482.59
4/l/80
393.10
218.15
10,264.44
10/1/80
384.92
226.33
10,038.11
4/l/81
376.43
234.82
9,603.29
10/1/81
367.62
243.63
9,559.66
4/l/82
358.49
252.76
9,306.90
10/1/82
349.01
262.24
9,044.66
1 F
Payment Schedule -- 80 Eureka
Payment
Due
4/1/83
10/1/83
4/l/84
10/1/84
4/1/85
10/1/85
4/1/86
10/1/86
4/1/87
10/1/87
4/1/88
10/1/88
4/l/89
10/1/89
4/1/90
10/1/90
4/1/91
10/1/91
4/l/92
10/l/92
4/1/93
10/1/93
$603.42
7 a-/
Interest
$339.17
$328.97
318.39
307.40
296.01
264.19
271.92
259.20
246.00
232.30
218.09
203.35
188.05
172.18
155.71
138.63
120.91
102.52
83.44
63.65
43.12
21.81
$1.1, 882 .17
Principal
Payments
$272.08
282.28
292.86
303.85
315.24
327.06
339.33
352.05
365.25
378.95
393.16
407.90
423.20
439.07
455.54
472.62
490.34
508.73
527.81
547.60
568.13
581.61
$12,560.00
Page 2
Balance After
Payment
$ 8,772.58
8,490.30
8,197.44
7,893.59
7,578.35
7,251.29
6,911.96
6,559.91
6,194.66
5,815.71
5,422.55
5,014.65
4,591.45
4,152.38
3,696.84
3,224.22
2,733.88
2,225.15
1,697.34
1,149.74
581.61
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