HomeMy WebLinkAboutContracts & Agreements_37-1973 CON RACT
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1 THIS AGREEMENT entered into as of this 12th day of November 1973, h
and between THE REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS, State of California
21 hereinafter referred to as the "Local Public Agency", and FIRST AMERICAN TITIE '
j COMPANY OF SAN BERNARDIMO, a corporation organized and existing under the lass
3 of the State of C'rlifoinra, hereinafter referred to a Ili- "Contractor"
4 ; WITNESSITII 1HAT
5 , WHEREAS, the local Public Agency is undertal i• + eerrai i act vet lc`
necessary for the planning or execution of a Project situated in the Project
6i Area described below, and
7 ! WHEREAS, the Local Public Agency desire to engage the Contracior lc
render certain te-hnical advice and assistance in cone ction with such under
81 takings of the Loral Public Agency
9 1:0w, TIWRLFORE, the parties hereto do irrirelly agree as folio
i }
10' 1 Scope of Services The Contractor shall perform all the neces-
sary services provided under this Contract in connection with and respecting the
11 following Project Aiea See Exhibit "A" - attached hereto and made a part hip
of as though fully incorporated and set out herein and shall do, perform and
12 carry out, aL the specific direction of the Agency in a satisfactory anJ prc• -
manner , as determined by the Local Public Agency, the following
13
A Furnish Ownership Data Reports, which will include the folic. 3r. r
14 with respect to each parcel of project land •
15 I) The name of the apparent owner or owners as the name appears
of record and the address of such owner or owners as shown by
16, the record of the assessed valuation referred to in subparagraph
4 of this paragraph
17
2) The legal description of the parcel as shown by the record
18 of thi conveyance or conveyances, or other instrument or in-
struments, by which such owner or owners acquire title
191
3) Information with respect to the conveyance or conveyances ,
201 or other instrument or instruments, by which such owner or
owners acquired title based on the record of such conveyance
211 or conveyances, instrument or instruments, as follows
22' a The date thereof
b The book and page of recordation,
23 c The name and (if shown on such record) the address
of the grantor or grantors,
24. d The stated consideration,
e The amount of U S Internal Revenue Stamps affixed
251 f The unpaid amount of any mortgages or encumbrances
to which title was made subject, in such conveyance
261 or conveyances, instrument or instruments and on
which U S Internal Revenue Stamps weir not
27 ! icc,uiicd and
1 g the amount of any State or local Lransfei tares based
281 on the amount of the consideration for the transfer
I of title so far as determinable from the record of
29I such conveyance or conveyances, instrument or iinstru-
menu
60 ;
4 Tie lii,ouimI of Lhe current asscssc d va Inar ion e ' land and
31 ' rmplcrveiiv riffs silted separ-3tcly
321
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B Issue Preliminary T€ ' le Reports, in duplicate, which reports trill
contain among othe! things, the following information
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I) Names of the owner or owners of each parcel
2) An insurable legal description of each parcel
] 3) InFormation relative to covenants, conditions,
restrictions, reservations and encumbrances of
2 record
4) A plat of the subject property made from information
31 available to the Contractor
1
4 C. Issue Policies of Title Insurance, Litigation Guarantees and act
as Escrow Holdei as follows
5 ;
1) Issue California Land Title Association Standard Coverage form
6 Policies of Title Insurance, naming as insured the Local Public
Agency, the liability of each such Policy being the value of
7 the land and improvements as specified by the Local Public
Agenc•, for parcels within the Project Area described in F4 ihit
81 "A" attached hereto, or the purchase price paid by the Local
! fuLlie Agency for said parcels within the Project Area des-
91 ciik 'd in said Exhibit "A", whichever 1s greater On an/
parcels within the Project Area, desrrih' d in Exhibit "A"
117)€ attached hereto, which are the subject of condemnation pro-
ceedings by the Local Public Agency, as directed by the Local
111 Public Agency, the Contractor will issue a Litigation Guarantee
! in lieu of the Owners Policy of Title Insurance provided above
12 the liability of each such Guarantee to be the value of t'ie
land and improvements as specified by the Local Public Agency
13 for such parcels
141 At the time Decrees of Condemnation are rendered by the Court
as to such parcels, the Contractor will issue an Owner's
151 Policy of Title Insurance, as above provided, naming as insu-ed
the Local Public Agency, provided, however, as directed by the
16, Local Public Agency, the liability of certain such Policies
shall be the principal amount of the judgment paid by the local
171 Public Agency for such parcels
18 2) Act of Escrow Holder in transactions involving parcels within
the Project Area as hereinabove defined wherein the Local
19 Public Agency is the Buyer and the Record Owners at the time
of purchase by the Local Public Agency are the Sellers
20
To perform the usual services and duties of an Escrow Holder
21 including but not limited to the following
221 a Prepare Escrow Instructions and obtain signatures
231
of parties either by mail or in person
b Order Preliminary Reports of Title brought to date,
241 and deliver them to the Local Public Agency
1
251 c Have Preliminary Reports of Title approved by the
Local Public Agency
261
d Obtain demands, release and reconveyance documents
271 fiom holdeis of encumbrances and liens against the
subject property
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e. Prepare documents necessary to put the record title
29I to the subject property in the condition required
by the escrow instructions
301
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f Obtain the Sellers' approval of demands
31
g Keep escrow balance sheets showing purchase price
32I and all charges and expenditures
I t
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2 )
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I S
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1 h Clear checks of parties before closing the escrows
2 i When escrow instructions have been complied with,
obtain from the Local Public Agenc, the necessary
31 funds to close the escrows
41
j Record the necessary documents to show record title
to the subject property as required by the escrow
5l instructions, and obtain Policies of Title insurance
6I k Disburse funds in accordance with escrow instructions
7 ; DEFINITION OF "PARCEL"
i8 The term "parcel" means any tract or contiguous tracts of land €n
same ownership whether such tract or tracts consist of ene o€ more platted
91 lots oi Fractional parts thereof Easements and rights-of-way for utilities
and similar interests which encumber project land but which are not appurenant
101 to any of such land are considered to be separate parcels
11 Data to be Furnished to Contractor
121 1) Under Section A Scope of Services Maps
13 2) Under Section B Scope of Services
14 a Copies of Maps and Surveys which the Local Public Agency r";v
have in its possession
15
b Copies of evidence of title which the Local Public Agency -nay
16 have in its possession
17, 3) Under Section C Scope of Services
18 a Purchase Price
191 b Address of parties to the escrows
201 c Terms and full details of sales, and documents and funds
necessary to close the escrows
21
The above will be provided by the Local Public Agency through the
221 mails or by personal delivery at their option when asked by the Contractor
23 2 Time of Performance The services of the Contractor are to
commence upon November , 1973, and shall be undertaken and completed in
241 such sequence as to assure their expeditious completion in the light of the
purposes of this Contract
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3 Corpensation
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A Owneiship Data Reports at S10 00 per parcel
271
B Preliminary Title Reports and/or Litigation Guarantees at 1/2
28 the fee (per parcel) hereinafter set out for policies The above set forth
fees for Ownership Data Reports and/or Litigation Guarantees shall apply to the
29 Fees hereinafter set Forth for Policies of Title Insurance when said Policy is
i issued
301
C Policies of Title Insurance at 757 of "Basic Schedule" (effecriee
311 April 5, 1971) with a minimum of $50 00 per parcel based on the purchase price
1 by the Redevelopment Agency of the City of Redland This fee will also
321 include the escrow fee, r e , policy will be issued and the escrow held For a
( 3 )
1 fee equal to 75% of the "Basic Schedule" with a minimum of $50 00 per parcel
2
4 Method of Payment.
3
A Compensation will be paid monthly by the presentation of an
4 itemized statement, in duplicate, of work completed and delivered to the
Agency.
5
B Escrow fees, Policy of Title Insurance Premiums and all other
6 title and escrow charges which the Local Public Agency is obligated to pay
and are to be paid by the Local Public Agency within 15 days from the close
71 of each such escrow
8
9 IN WITNESS WHEREOF, the Local Public Agency and the Contractor have
executed this Agreement as of the date first above written
10
11
12 REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS,
California (Local Public Agency)
13I /
14 By �i .J i J � � '
Ralph P, Merritt, Jr Acting Director
15i
161
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181 FIRST AMERICAN TITLE COMPANY OF SAN BERNARDINO, '
California (Contractor) }}
19
20 By
Edwar Young, Vice President
21
By
22 Vince Figgins, President
23
24! APPROVED AS TO FORM AND ADEQUACY
25 _•- �
26 By (C ? 61- of tft (7,"/
Edward F Taylor
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28 z ��
29 \<„‘
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( 4 )
EXH1P1T "A"
11 BLOCKS 3, 4, 5, 6, 7 and 8, REDLANDS TOWN PLAT, as per plat
21 recorded in Book 5 of maps, page 10, records of San Bernardino
31
County, State of California
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5
6
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26s
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281
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