HomeMy WebLinkAbout3022_CCv0001.pdf RESOLUTION NO, 3022
A RESOLUTION OP THE CITY COUNCIL OF WI E CITY GF REDIJANDS DECLARING THAT
CERTAIN REAL PROPERTY !S NO DONGER REQUrRED FOR PUBLIC USE, AND ORDER--
1NG SALE OF SAID PRO ERIT
The City Council of the City of Redlands ordains and resolves as
foilows '
SECTION ONE: That the City Council of the City of Redlands hereby
finds and determines that certain real property owned by said City is
no longer required for public use, which said property is more partic-
ularly described as follows ;
Lots 1 to 4, inclusive, Block "E", according to Map of BALCOM'S
ADDITION, in the City of Redlands, as per plat recorded in Book
13 of Maps, page 4, records of said County
SAVING AND EXCEPTING THERRFROM tAe East 34 feet of said Lot 4
SECTION TMO : That pursuant to said finding and determination,
and pursuant to the provisions of law, an option to buy said property
hereinabove described nhall be granted to Life Development Company,
hereinafter called O. pts upon the iollowing terms :
1. The period during which Optionee may exercise its option
to purchase the property shall be one year, beginning on
February 20, 1973 ,,
2 � Opt. one shall have the right to purchase the said property
for a purchase price Of 1100, 000 .00 prior to February 20,
1974,
3 _ Optionee shall Pay to the City $100 ,00 permonth for the
right to said option, with the sum of $300.00 payable upon
start of option, representing the total sum payable for the
first threemonths, and the balance being payable at $100.00
E)er nacwth beginning on the first day of the four-Lh rniont'h of
the option period. All such option payments shall apply to
the purchase price ,
4. Optionceos decision as to whether or not the option will be
exercised may be reached within three months; escrow may
then be initiated sub''ect tc review of the improvement of
the property by the City and issuance of any and all permits
required by city ordinance,
SECTION THREE: That the City Council shall hear and pass upon
allprotests to the proposed sale in the City Councii Chambers at the
hour of 7:00 P.m. on the 20th day of February, 1973,
SECTION FOURt That the Optionee, immediately upon exercising
its option in writing, shall deliver to the said City Ccuncil of the
City of Redlands, consideration of a value of $100,000 .00, which said
amount shall be deposited in the City Treasury of the City of Redlands
to comply with the terms of the sale,
SECTION FIVE: F0110:in exercise of the option, City and Optione8
will open an escrow account at an aqency they shall mutualiy select,
for a period of 60 days or less, for the parpose of conveying title
for and in consideration of the purchase price, with all escrow
as s, including the fees for title policy insurance, being paid
by Opt ionee,
SECTION S!Xz That lie City Clerk shall cause notice of this reso-
lution to be pulb .vs hed at least once prior to said sale in the Redlands
Daily Pacts, a newspaper of general circulation published in the City
of Redlands, County of San Bernardino,
ADOPTED, SIGNED AND APPROVED this 60 day of February, 1973 .
ATTESTz,,, Mayor, City of Redlands
APPROVED FOR FORMCI ,
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Resolution No. 3022
Page two
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