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HomeMy WebLinkAboutContracts & Agreements_84-1995_CCv0001.pdf AGREEMENT FOR PURCHASE AND SALE This Agreement for purchase and sale of real property ("Agreement" ,dated 1y 1, '1995, (""Effective late")is made and entered into by and between The Hinckley Trost-and aeon Stafford., collectively C Sell '")and the City of Redlands("Buyer")sometimes herein eolleiW efy referred to as the "Parties") RECITALS A Whereas,Sellers oven a fifty percent(501/o)interest in certain real property commonly known as Assessor's Parcel Number 174-141-12 which is located in the City of Redlands, San Bernardino County,California(the "Property"); and B. Whereas, Sellers agree to sell to Buyer and Buyer agree to buy from Sellers their interest in the Property subject to the terms and conditions contained herein; Now,therefore,in consideration of the mutual promises contained herein,the Parties hereto agree as fellows: AGREEMENT I. Purchase Price. The purchase price for the Property to be paid shall be in the total amount of nine hundred and fifty-cine dollars {$951.00} for the 31.25% of the Property owned by The Hinckley Trust and five hundred seventy($570.00) dollars for the 18.75%of the Property owned by Leon Stafford. 2. Title to Property, Sellers shall by grant deed convey to Buyer good and marketable fee title to the Property. 3. Seller's Representations Warranties and Acknowledgements Sellers hereby snake the following representations, warranties,and acknowledgements and agrees that such representations, warranties and acknowledgements shall survive the close of escrow. A. Sellers Have full right,power and authority to execute this Agreement and to convey fee simple title to the Property to Buyer as provided herein. B. Sellers are not a foreign person under Section 1445 Internal Revenue Code and will execute a certificate of non-foreign status and deposit same into the Escrow prior to the close of escrow. C. Except as othenN4se disclosed in this Agreement or disclosed in any reports to be delivered hereunder,Sellers have no actual knowledge of any violations or alleged vio 'ohs of any federal,state,county or other governmental or quasi governmental law,statute,ordinance,regulation DJM568L 1 or administrative or judicial order with respect to the Property. D. This Agreement has been duly executed by Sellers and constitutes a valid and binding Agreement of Seller enforceable against Sellers in accordance with its terms. 4. Buyer's Representations and Warranties. Buyer hereby represents and warrants that the person executing this Agreement has the full authority and power to enter into this Agreement on behalf of Buyer to purchase the Property from Sellers, and to take all actions required of it by the terms of this Agreement. 5. Entire Agreement. This Agreement supersedes any prior oral or written agreement and contains the entire Agreement of the Parties as to the matters covered hereby. No amendment of this Agreement and no other agreement, statement, or promise made by any party or to any employee,officer,or agent of any party to this Agreement shall be binding. All obligations of Buyer and Sellers under this Agreement and the Escrow shall be joint and several. 6. Captions and Construction. The captions appearing at the commencement of the paragraphs hereof are descriptive only and for convenience and reference. Should there be any conflict between any such caption and the paragraph at the head of which it appears, the paragraph shall control and govern in the construction of this Agreement. This Agreement shall be construed as a whole and in accordance with its fair meaning. Organization is for convenience and shall not be used in construing meaning. 7. Successors and Assigns. Each covenant and condition contained in this Agreement shall inure to the benefit of and be binding on the parties to this Agreement, their respective heirs, personal representatives, assigns and other successors in interest. 8. Attorney's Fees. If any party shall bring an action against another arising out of this Agreement,then the party in whose favor the final judgement is entered shall be entitled to have and recover from the other party its reasonable attorney's fees and other reasonable expenses in connection with such action or proceedings, in addition to its recoverable court costs. 9. Brokers and Finders Buyer and Sellers warrant that the execution of this Agreement was not induced or procured Z� through any person,firm,or corporation acting as a broker or finder. Sellers shall be responsible for tn I any broker's commission due and owing to Coldwell Banker/Realty Center from the sale of the Property to Buyer. Sellers shall defend, indemnify and hold Buyer harmless from and against any damage, liability or cost, including without limitation, reasonable attorney's fees, arising from or in connection with any claim by any other person, firm., or corporation based upon its having acted as broker or finder for or in connection with this transaction on behalf of Sellers. DJM569LE 2 IN WITNESS WHEREOF,the parties hereto executed this Agreement on the date set forth opposite their respective signatures hereto. SELLERS The Hinckley Trust By. Executed this day of , 1995 Bruce C. Hinckley, Trustee at Los Angeles, California jn t Executed this day of �� 1995 Lean Stafford at Redlands, California BUYER Executed this 21 stday of November, 1995 Mayor, City of Redlands at Redlands, California ATTEST_ Lorri 'oyzer, Cit 3 D,',I568LE IN WITNESS WHEREOF, the parties hereto executed this Agreement on the date set forth opposite their respective signatures hereto. SELLERS The Hinckley Trust By: 4V Executed this ' day of � ? 1995 Bruce C. Hinckley, Trustee"V at Los Angeles,California Executed this day of 1995 Leon Stafford at Redlands, California BUYER Executed this 21 st day of November, 1995 a or, ity of Redlands at Redlands, California ATTEST: Lorn Power, erl