HomeMy WebLinkAboutContracts & Agreements_54-2002_CCv0001.pdf WEST COAST SAND SEL, INC.
7312 ORANGETHORPE - RO, BOX 5267 - BUENA PARK, CALIFORNIA 90622
Office: Phone (714) 522-4403 s Fax (714) 522-4524
Dispatch: Phone (714) 522-0282 Fax (714) 562-2758
April 8, 2002
Citv of Redlands
Attn: Doug Headrick
35 Cajon St., Suite 15A
PO Box 3005
Redlands, CA 92373
UL ect: Stock Nircitiase AgicEiit iit "w s ri21 ii
Dear Mr. Headrick,
Enclosed herewith are (2) signed -Agreements for Sale Of Water Stock-per your
request.
If there is anything else that you will need please do not hesitate to call.
Sincerely,
LA,
3H,
Shelly Abrahams
AGREEMENT FOR SALE OF WATER STOCK
This Agreement is entered into this 16th day of April 2002 (the-'Effective Date"), by and
between the City of Redlands (hereinafter -City") and Quinn Enterprises, a general partnership.
(hereinafter"Seller").
RECITALS
WHEREAS, Seller owns nine hundred ninety-six (996) shares of capital stock in the Bear
Valley Mutual Water Company ("BVMWC"), hereinafter the **Shares." which Seller agrees to
sell to City; and
WHEREAS, City desires to purchase the Shares from Seller for the sum of One Hundred
Twenty-Four Thousand Five Hundred Dollars ($124,500.00) (the -Purchase Price");
NOW, THEREFORE, in consideration of the mutual promises contained herein, the
parties agree as follows:
1. Purchase and Sale of Shares. Seller shall sell the Shares to City for the sum of One
Hundred Twenty-Four Thousand Five Hundred Dollars (S124,500.00), and City shall pay such
sum to Seller concurrent with Seller's delivery to City of the stock certificate representing the
Shares.
2. Close of Sale. Within ten (10) days after the Effective Date of this Agreement, Seller
shall cause the stock certificate representing the Shares to be delivered to City in exchange for
City's check made payable to Seller in the amount of the Purchase Price.
3. Sellers' Warranties. Seller hereby makes the following representations, warranties
and acknowledgments.
3.1 Seller has full right, power and authority to execute this Agreement and to convey
unencumbered title to the Shares to the City as provided herein.
3.2 Seller has full right, power and authority to execute this Agreement and to convey
free and clear title to the Shares to Buyer as provided herein.
3.3 This Agreement has been duly approved and executed by Seller and constitutes
the valid and binding Agreement of Seller, enforceable against Seller in accordance with its
terms.
4. Notice. Notice given to either party shall be in writing and delivered in person (actual.
or by courier) or by registered or certified mail, postage prepaid, return receipt requested, and
shall be deemed communicated as of mailing or, in case of personal delivery, upon receipt.
5053 Quinn
Notice to City: Notice to Seller:
Douglas Headrick, P.E. Shelly Abrahams
Chief of Water Resources Quinn Enterprises
Citv of Redlands 7312 Orangethorpe Avenue
P.O. Box 3005 PO Box 5276
Redlands, California 92373 Buena Park, CA 90622
5. Attorneys" Fees. In the event any action is commenced to enforce or interpret any
term or condition of this Agreement the prevailing party shall, in addition to any costs and other
relief, be entitled to the recovery of its reasonable attorneys' fees.
6. Entire Agreement. This Agreement represents the entire Agreement between the
parties hereto as to the subject matters contained herein.
7. Counterparts. This Agreement may be executed in two or more counterparts and each
shall be deemed an original.
8. Assignment. This Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the parties.
9. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of California.
10. Amendment. This Agreement may be amended only by written agreement signed by
the parties hereto.
IN WITNESS WHEREOF, the parties cause this Agreement to be executed as of the date
written above.
By: City of Redlands Attest:
Mayor City C
By: Quinn Enterprises
By:
Its:
2
5083 Quinn