HomeMy WebLinkAboutContracts & Agreements_16-1966WHEN RECORDED MAIL TO
CITY CLERK, CITY HALL
REDLANDS, CALIF• 92374
546
OFILM
CONTRACT OF CITY OF REDLANDS
TO ACQUIRE REAL PROPERTY FOR
PUBLIC USE
BOOK 6 72S FAGS S71
B 728 PAGE 8 7 .
THIS INDENTURE, by and between IDA W. SCHRADER, a married
woman, hereinafter referred to as "Schrader", and the CITY OF
REDLANDS, hereinafter referred to as "City", is made and entered
into this 15th day of November, 1966.
FOR AND IN CONSIDERATION of the covenants, promises and
agreements herein contained, Schrader and City agree as follows:
1.
Property.
Schrader, 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 real property situated in
the City of Redlands, County of San Bernardino,
State of California, described as follows:
Lot 10, Ladds Sub -division, 2d Addition,
in the City of Redlands, County of San
Bernardino, State of California, as per
plat recorded in Book 5 of Maps, Page
33, Records of said County.
Said real property shall be referred to herein as
"premises".,
2. Remedies Upon Default.
In the event of a default by City, and its failure
to remedy such default within thirty days after
written notice from Schrader to do so, the parties
agree to an alternative remedy to any other remedies
available to Schrader as follows: Schrader may at
its 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 Schrader in addition to other
rights and remedies reserved to it by law may, with-
out notice to quit or other formality, re-enter the
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E90N6728 AGES72
premises and take full possession thereof. No re-
entry of said premises by Schrader shall be con-
strued as an election to terminate, unless written
notice to that effect is delivered to City and all
rights, powers, options, privileges and remedies
herein expressly given to Schrader shall be
cumulative to each other and to any other legal
or equitable remedy, right, power or privilege which
Schrader might otherwise have in the event of any
default by City, and no option, right, power, remedy
or privilege of Schrader 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 in-
terest on all delinquent amounts and on all other
sums which it is or may become obligated to pay under
the terms of this lease at the rate of six (6) per-
cent per annum from the date when the same become
due until paid.
3. Payments.
City agrees to pay and Schrader agrees to accept as
rental for said premises, during the term hereof,
a semi-annual rental of $275.85. The first rental
payment of $2,125.00 shall be made on the 15th day
of November 1966; regular rent payments thereafter
shall be made in even amounts of $275.85 each year
on the 1st day of June and the 1st day of December,
beginning the 1st day of June 1967. All of said
amounts shall be paid for and in consideration of
the use of the said real property, and in consideration
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
shall be 20 years, beginning November 15, 1966,
-2-
PACE
unless sooner terminated, by exercise of option.
Covenants of City.
The City covenants and agrees with Schrader as
follows:
(1) To use premises for lawful purposes only.
(2) To pay the rents herein specified.
(3) To maintain premises and improvements,
and make all replacements and repairs
necessary to premises and improvements
during the term hereof, ordinary wear and
tear excepted.
(4) To pay for all gas, electricity, light,
heat, power, water and other service or
utility used on or supplied to said
premises.
(5) To pay all real and personal taxes and
assessments 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 required under the provisions of
this lease. Taxes for 1966 will be prorated,
Schrader paying taxes accrued to November 15,
1966, and City paying taxes due after November
15, 1966.
(6) To obtain and maintain in force during the
term of this lease an insurance policy or
policies insuring Schrader for fire and
extended coverage, and for public liability
insurance against bodily injury and property
damage, a certificate of said insurance to be
furnished Schrader® All required insurance
-3-
'414<
fAt1E,.
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 insurance 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
01
additional insurance at its own expense.
(7) To discharge any mechanic's lien or liens
filed against the leased premises for work
done by or for, or materials furnished to
City, forthwith 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 part1 lessee shall forth-
with pay the same.
Covenants of Schrader.
Schrader covenants and agrees with City:
(1) That Schrader has suffered or permitted no
encumbrances or liens upon its title to the
premises and that Schrader 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.
(2) That City shall, at its own expense, have
the right to make installations, changes
and improvements upon said leased premises
as may be necessary for City®s purposes.
(3) That City may assign this lease or sublet
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eco6728 w875
the said premises or any part thereof for
any lawful purpose, but shall remain liable
for the performance oE its covenants here-
under.
Option to Purchase.
Schrader does hereby give, grant and convey to City
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 on 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 the furnishing by the lessor 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 Schrader and City. A
policy of title insurance in the sum of Eighty-five
Hundred Dollars ($8500.00) will be furnished the
City and shall be paid for by Schrader.
Assignment.
With the written consent of the City, Schrader may
assign its interest hereunder, or transfer such in-
terest in trust as security. Schrader, notwithstanding
any assignment of its interest, as provided herein,
shall at all times remain bound to perform all covenants,
conditions, and agreements of Schrader 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 Schrader whereby said assignee agrees
to be bound to perform all covenants, conditions
and agreements herein provided, assignor shall be
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eotX6728 c8?6
released from any further obligations under this lease.
General Conditions of Agreement.
Each and all of the terms and agreements herein con-
tained shall be binding upon and inure to the benefit
of the successors in interest of Schrader 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 ex-
pressed herein, other than the warranty of title.
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
Redlands, California
Mrs. Ida W. Schrader
3994 Morrell
San Diego, California 92109
STATE OF CALIFORNIA,
County of
San Bernarfaino
04/
Ida W. Schrader
CITY OF REDLANDS
1:\
By 24._.11.21
(-- /
ss.
BOOKU72p PAGEo7%
ON NoyPmbe r 9 , 19 66, before me, the undersigned a
Notary Public in and for the State of California with principal office in the
County of Sa n o_ , personally appeared
IDA W. SCHRADER
known to me to be the person_ whose name_ is
scribed to the within Instrument, and acknowleedu .d. that she
executed the same.
cox
PUBLUC I IGNATURE OF NOTARY)
ICJ: .DING COUNT`(
CALIFORNIA
,.NAME OF NOTARY PRINTED)
ROBERT E. COX
o a PAiicgCMd for the State of California.
My Commission Expires August 22, 197
sub-
Ro
WHEN RECORDED MAIL TO
CITY CLERK, CITY HALL
REDLANDS, CALIF. 92374
EXHIBIT A
le The option shall be to purchase premises
1967, and the purchase price shall be $6,203.26.
2. The option shall be to purchase premises
1968, and the purchase price shall be $6,021.07.
3. The option shall be to purchase premises
1969, and the purchase price shall be $5,827.78.
4. The option shall be to purchase premises
1970, and the purchase price shall be $5,622.71.
5. The option shall be to purchase premises
1971, and the purchase price shall be $5,405.16.
6. The option shall be to purchase premises
1972, and the purchase price shall be $5,174.35.
7. The option shall be to purchase premises
1973, and the purchase price shall be $4,929.49.
8. The option shall be to purchase premises
1974, and the purchase price shall be $4,669.72
9. The option shall be to
on December 2,
on December 2,
on December 2,
on December 2,
on December
on December 2,
on December 2,
on December 2,
2,
premises on December 2
1975, and the purchase price shall be $4,394.13.
10. The option shall be to purchase premises
1976, and the purchase price shall be $4,.01.75.
11. The option shall be to purchase premises
1977, and the purchase price shall be $3,791.57.
12. The option shall be to purchase premises
1978, and the purchase price shall be'$3,462.50.
13. The option shall be to purchase premises
1979, and the purchase price shall be $3,113.40.
14. The option shall be to purchase premises
1980, and the purchase price shall be $2, 743 .03 .
15. The option shall be to purchase premises
1981, and the purchase price shall be $2,350.10.
16. The option shall be to purchase premises
1982, and the purchase price shall be $1,933.24.
17. The option shall be to purchase premises
1983, and the purchase price shall be $1,491.00.
18. The option shall be to purchase premises
1984, and the purchase price shall be $1,021.83.
19. The option shall be to purchase premises
1985, and the purchase price shall be $524.08.
on -December 2,
on December 2,
on December 2,
on December 2,
on December 2,
on December 2,
on December 2,
on December 2,
on December 2,
on December 2,
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 deter-
mined by reducing the next succeeding option in accordance with
the same pro-rata method by which the options on Exhibit A were
computed on the date of the execution of this agreement.
Book_ .0
,c:Ji:.;1) MAIL To-
rc.,1 „t..E7-?/-C., CITY HALL FOR INFORMATION ONLY
11EDLANDS, CALIF, 92374 PROPERTY LEASE -PURCHASE at 17 GRANT STREET
DOWN PAYMENT AND PAYMENT SCHEDULE
Purchase Price
Down Payment (25%) 11/15/66
Pymt.
6% Prin,
Int, Pymts.
2,125.00
due 6/1/67 (Int. 11/15/66 to 6/1/67) 207.19 84.60
(Int. for 6 mos.) 188.71 87.14
186.10 89.75
183.41 92.44
180.63 95.22
177.78 98.07
174.83 101.02
171.80 104.05
168.68 107.17
165.47 L10.38
162.15 113.70
158.74 117.11
155.23 120.62
151.61 124.24
147,88 127.97
144.05 131.80
140.09 135.76
136.02 139.83
131.82 144.03
127.50 148.35
123.05 152.80
118.47 157.38
113.75 162.10
108.88 166.97
103.88 171.97
98.72 177.13
93.40 182.45
87.93 187.92
82.29 193.56
76.48 199.37
70.50 205.35
64.34 211.51
58.00 217.85
51.46 224.39
44.73 231.12
37.80 238.05
30.65 245.20
12/1/67
6/1/68
12/1/68
6/1/69
12/1/69
6/1/70
12/1/70
6/1/71
12/1/71
6/1/72
12/1/72
6/1/73
12/1/73
6/1/74
12/1/74
6/1/75
12/1/75
6/1/76
12/1/76
6/1/77
12/1/77
6/1/78
12/1/78
6/1/79
12/1/79
6/1/80
12/1/80
6/1/81
12/1/81
6/1/82
12/1/82
6/1/83
12/1/83
6/1/84
12/1/84
6/1/85
Balance
After
Pymt,
8,500.00
6,375.00
6,290.45
6,203.26
6,113.51
6,021.07
5,925.85
5,827.78
5,726.76
5,622.71
5,515.54
5,405.16
5,291.46
5,174.35
5,053.73
4,929.49
4,801.52
4,669.72
4,533.96
4,394.13
4,250.10
4,101.75
3,948.95
3,791.57
3,629.47
3,462.50
3,290.53
3,113.40
2,930.95
2,743.03
2,549.47
2,350.10
2,144.75
1,933.24
1,715.39
1,491.00
1,259.88
1,021.83
776.63
Pymt. due 12/1/85
6/1/86
12/1/86
Balance
6% Prin After
Int. Pymtse Pymt,
23.30 252.55 524.08
15.72 260.13 263.95
7.92 263.95 -0-
RECORDING REQUESTED BY
RECORDED
AT REQUEST
ATTORNEY
j PAGE
Nome
Street
Address
City &
State
Name
Street
Address
City &
State
AND WHEN RECORDED MAIL TO
Procopio, Cory, Hargreaves
and Savitch
1900 First National Bank Bldg.
LSan Diego, California 92101
MAIL TAX STATEMENTS TO
City of Redlands
as at present.
LP. O. Box 280
Redlands, California
1970JUN19 PM 12 33
f!'f ':r 7465 PAGE 272
OFFICIAL. RECORDS
SAN EERNAR0I„0 CO. CALIF.
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Documentary Transfer Tax
Computed on full value of property conveyed.
or computed on full value less liens and en-
cumbrances remaining thereon at time of sale.
'Signature of declarant or agent determining tax
Firm Name
TO 405 CA (9-68)
Grant Deed
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, being love and affection,
IDA W. SCHRADER and HARMON J. SCHRADER,as to his interests, if any, and sub -
subject to the Joint Life Estate reserved below,
hereby GRANT(S) to FLOREINE S. WALKER, their daughter,
the following described real property in the
County of San Bernardino
, State of California:
Lot 10, Ladds Subdivision, 2d Addition, in the City of Redlands,
County of San Bernardino, State of California, as per plat recorded
in Book 5 of Maps, Page 33, Records of said County.
RESERVING to Grantor and to Harmon J. Schrader, her husband, and to the survivor
of them, the rents, issues and profits thereof, including all rights and benefits under
a certain contract of City of Redlands to Acquire Real Property for Public Use, dated
November 15, 1966, for the term of her natural life and that of her said husband,
being a Joint Life Estate which she retains for the benefit of herself and said husband.
This grant is subject to and said Grantee takes subject to all rights of the City of
Redlands in and to said real property as provided in said Contract, and by accepting
this grant said Grantee agrees to perform all covenants, conditions and agreements
of "Schrader'[ under said Contract.
Dated June 16, 1970
STATE OF CALIFORNIA
COUNTY OF San Diego
}SS.
On June 16, _1970 before me, the under-
signed, a Notary Public in an(l for said State, personally appeared
Ida �V,_S�hrader�nd�iarmon .T_
Schrader
known to me
to be the person_.'
instrument and acknowledged that the_y
\'ITNESS my hand and official seal.
r
Signature __ _` ') 'L�i/[ ../ ( . 1�,/ 1, j
whose name.S are_ subscribed to the within
executed the same.
Lynda _A. Iliai.n_ __--
Naune ITvned or Printed/
/7
Ida W Schrader
trmon' J. Sc ,ode r
1jA2tle It17yn' Tam aua s+ °.a._r1 C_:f t1 n '- _n 11 • .r "1a s 7
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