No preview available
HomeMy WebLinkAbout2005-353 .. I . 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 2005-353 RESOLUTION OF THE CITY OF SAN BERNARDINO DIRECTING AND AUTHORIZING THE EXECUTION OF A SALES AND PURCHASE AGREEMENT AND THE EXECUTION OF A GRANT DEED TO J. R. WATSON & ASSOCIATES RELATIVE TO THE SALE OF CITY PROPERTY GENERALLY LOCATED AT THE NORTHEAST CORNER OF PINE AND BELMONT AVENUES AND THE SOUTHEAST CORNER OF OIDO AND PINE AVENUES IN THE CITY OF SAN BERNARDINO. BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS: SECTION 1. That the Mayor of the City of San Bernardino is hereby directed and authorized to execute on behalf of said City, a Sales and Purchase Agreement, a copy of which is attached hereto as Exhibit "1" and made a part hereof, and a Grant Deed, a copy of which is attached hereto as Exhibit "2" and made a part hereof, for the sale of certain City property located on the Northeast comer of Pine and Belmont Avenues and the Southeast comer of Ohio and Pine A venues, in said City and more fully described in detail in said Exhibits "1" and "2". SECTION 2. That the initial deposit of $127,500.00 (One Hundred Twenty- Seven Thousand Five Hundred Dollars), less proportionate closing costs, be transferred to the San Bernardino City Municipal Water Department upon close of Escrow. SECTION 3. Said Agreement shall be null and void if either party fails to execute the Agreement within sixty (60) days of the date of adoption of this resolution. /II /II 09/27/05 2005-353 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION OF THE CITY OF SAN BERNARDINO DIRECTING AND AUTHORIZING THE EXECUTION OF A SALES AND PURCHASE AGREEMENT AND THE EXECUTION OF A GRANT DEED TO J. R. WATSON & ASSOCIATES RELATIVE TO THE SALE OF CITY PROPERTY GENERALLY LOCATED AT THE NORTHEAST CORNER OF PINE AND BELMONT AVENUES AND THE SOUTHEAST CORNER OF omo AND PINE AVENUES IN THE CITY OF SAN BERNARDINO. I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Mayor and Common Council of the City of San Bernardino at a j oint regular meeting thereof held on the 17th day of October , 20~, by the following vote, to wit: Council Members: AYES NA YES ABSTAIN ABSENT ESTRADA x LONGVILLE x MCGINNIS x DERRY x KELLEY x JOHNSON x MCCAMMACK x Q~h.~ City~erk /14 October ,20~. The foregoing resolution is hereby approved this Approved as to form and legal content: JAMES F. PENMAN City Arney 09/27/05 2 -.... ., ,. SALES AND PURCHASE AGREEMENT This Agreement ("AGREEMENT") is made and entered into this I q +b-day of ~ ,2005, by and between the CITY OF SAN BERNARDINO, a municipal corporation ("SELLER") and JAMES R. WATSON / J.R. WATSON & ASSOCIATES DEVELOPMENT CO. ("BUYER") for the sale of City owned property ("PROPERTY"). PROPERTY to be sold is generally located at the Northeast comer of Pine & Belmont Avenues and the Southeast comer of Ohio & Pine Avenues, in the City of San Bernardino, State of California and is more fully described in Exhibit "A" attached hereto and made a part hereof. For the considerations h~reinafter set forth, it is mutually agreed as follows: 1. The parties have herein set forth the whole of their negotiations. The performance of this offer constitutes the entire consideration for said purchase and shall relieve the parties hereto of all further obligations or claims on this account. 2. PROPERTY consists of approximately 13.72:1:. acres of vacant land and is designated "RL" (Residential Low Density) in the General Plan of the City of San Bernardino. 3. The parties shall enter into an Escrow with First American Title Insurance Company, 323 West Court Street, San Bernardino, California, for a period not to exceed sixty (60) days, unless mutually agreed upon by both parties. Parties authorize said Title Company to disburse funds accordingly. 4. The purchase price of PROPERTY (as described below in Section 6) shall be $1,275,000.00 (One Million Two Hundred Seventy-Five Thousand Dollars). SELLER hereby acknowledges that BUYER has deposited with SELLER, the amount of $127,500.00 (One Hundred Twenty-Seven Thousand Five Hundred Dollars) which SELLER shall deposit into Escrow toward said purchase price. 5. SELLER SHALL: A. Pay one-half of all Escrow fees, recording fees and any closing costs incurred in this transaction. B. Deliver an executed Grant Deed and a Deed of Trust to Escrow #2006687 at First American Title Insurance Company, 323 West Court Street, San Bernardino, California. Buyer shall take title to said property as "Pine Trails Partners, LLC". C. Provide an owner's title policy naming the BUYER as the insured in the amount of the purchase price, insuring that the BUYER owns fee title to PROPERTY, 1 -Tnp,F' T subject to the permitted exceptions. SELLER shall pay the premium for and charges related to the issuance of the owner's title policy. 6. BUYER SHALL: A. Pay the SELLER the sum of$I,275,000.00 (One Million Two Hundred Seventy- Five Thousand Dollars) purchase price as follows: 1. Pay SELLER $1,000,000.00 (One Million Dollars) as follows: BUYER'S deposit of$127,500.00 (One Hundred Twenty-Seven Thousand Five Hundred Dollars) shall be placed into Escrow. The remaining $872,500.00 (Eight Hundred Seventy-Two Thousand Five Hundred Dollars) shall be secured by a promissory note and interest only Deed of Trust for two (2) years or upon recordation of a final map, whiChever occurs sooner, and shall carry an annual interest rate of five percent (5%) simple interest to be paid semi-annually. Said Deed of Trust and Promissory Note shall be executed by BUYER as "Pine Trails- Partners, LLC" . 2. BUYER shall design and construct an adjacent park (estimated at 2.5 acres and to be located upon the Metropolitan Water District property and San Gabriel Valley Municipal Water District easement) containing trees, shrubs, a meandering decomposed granite and trail, two commissioned sculptures, benches and a tot lot, at a cost of $200,000.00 (Two Hundred Thousand Dollars). Said park shall connect into the trail system leading to CSUSB at Pine Street and the existing Flood Control Levee. The design and construction of said park shall be subject to the reasonable approval of the City of San Bernardino. BUYER shall pay the $200,000.00 (Two Hundred Thousand Dollars) toward the cost of design and construction for said park in addition to the estimated $50,000.00 (Fifty Thousand Dollars) to $75,000.00 (Seventy-Five Thousand Dollars) in park fees that BUYER shall pay the City of San Bernardino as a condition of approval to any tentative map for the PROPERTY. BUYER'S obligation to design and construct said park at a cost of $200,000.00 (Two Hundred Thousand Dollars) shall be incorporated into the conditions of approval to any tentative map for the PROPERTY. 3. BUYER shall obtain and dedicate to the City of San Bernardino a non': exclusive easement or fee interest over approximately 40,000 (Forty Thousand) square feet of land encumbered by a San Gabriel Valley Municipal Water District easement for the construction of said park. Said non-exclusive easement or fee interest shall have a minimum value of $75,000.00 (Seventy-Five Thousand Dollars) and this obligation shall be 2 -~~"""'C incorporated into the conditions of approval of any tentative map for the PROPERTY. 7. The PROPERTY interest shall be conveyed when title to PROPERTY vests in the name of BUYER and is free and clear of all liens, encumbrances and assessments except as follows: A. Covenants, conditions, restrictions and reservations of record. B. Easements and/or rights of way over said land for public or quasi-public utility or public street purposes. 8. BUYER shall have the right to review the condition of title in Escrow, including the matters described in Paragraph 7, above, and BUYER'S obligations shall be subject to BUYER'S approval of the condition of title as provided therein. 9. BUYER shall pay one-half of all Escrow, recording and any closing costs incurred in this transaction. 10. BUYER accepts the PROPERTY in an "as-is" condition. 11. BUYER'S DEFAULT AND FORFEITURE OF DEPOSIT. If the BUYER refuses or fails to consummate the purchase of PROPERTY pursuant to this AGREEMENT for any reason other than termination hereof pursuant to a right granted hereunder to do so, or breach by SELLER of its agreements hereunder, then SELLER as its sole and exclusive remedy shall have a right to terminate this AGREEMENT by giving BUYER written notice thereof, in which event BUYER shall forfeit said deposit as liquidated damages and neither party hereto shall have any further rights or obligations hereunder. 12. SELLER'S DEFAULT AND RETURN OF DEPOSIT. If SELLER fails to perform any of its obligations hereunder, either prior to or at the closing of Escrow, the BUYER may terminate this AGREEMENT by notifying SELLER thereof, at which time said deposit, together with any interest earned thereon, shall be returned to BUYER and neither party hereto shall have any further rights or obligations hereunder; however, the foregoing shall not constitute a waiver of any rights of BUYER to maintain an action for specific performance or damages against SELLER by reason of SELLER'S breach. II 3 '{"'\IiITTIr- ..< , IN WITNESS WHEREOF, the parties have executed this Agreement the day and year as first written above. NO OBLIGATION OTHER THAN THOSE SET FORTH HEREIN WILL BE RECOGNIZED. BUYER: J.R. WATSON & ASSOCIATES DEVELOPMENT CO. By: SELLER: CITY OF SAN BERNARDINO ATTEST: Q,~h,~ RACtrEL CLARK, City Clerk Approved as to form and legal content: JAMES F. PENMAN, City tomey -fJ~ 4 ------~ EXHIBIT "A" That portion of Block, 39, Irvington Land and Water Company Subdivision, as per plat recorded in Book 3 of Maps, Page 9, and in Book 1 of Records of Survey, Page 32, Records of San Bernardino County. Together with that portion of Ohio Avenue lying Northeasterly of said Block 39 and that portion of Belmont Avenue, lying Southwesterly of said Block 39, as vacated by Order of the Board of Supervisors of the County of San Bernardino, on February 21, 1910 in Book "C", Page 250 of Supervisors minutes. EXCEPTING THEREFROM the Northwesterly 60 feet thereof, as conveyed to the Metropolitan Water District of Southern California, by Deed recorded April 19, 1971 in Book 7649, Page 341, Official Records, of said County. ALSO EXCEPTING THEREFROM, that portion establishing a boundary of Redwood Street and dedicating same for street and highway purposes described as Parcel No.1 in City of San Bernardino Resolution No. 88-173, approved June 7, 1988 more particularly described as follows: That portion of Block 39, Irvington Land & Water Company Subdivision as per plat thereof recorded in Book 1 of Records of Survey, Page 32, records of the County Recorder of San Bernardino County, described as follows: A strip ofland 60.00 feet wide, lying 30.0o.-~et on each side of the following described centerline: Beginning at a point on the centerline of Pine Avenue that lies South 27012' 49" West a distance of 790.06 feet from its intersection with the centerline of Ohio Avenue as shown on Record of Survey recorded in Book 31 of Records of Survey, pages 40-42, records of the County Recorder of said County; thence South 620 47' 55" East, a distance of 545.91 feet to a point on the East line of said Block 39 and the Point of Termination. EXCEPTING Therefrom any portion thereoflying Westerly of the Easterly line of the property conveyed to the MetropQlitan Water District of Southern California by document recorded April 19, 1971 in Book 7649, Page 341, Official Records of said County. The sidelines of said strip shall be prolonged or shortened so as to begin in the Easterly line of said Metropolitan Water District land and to terminate in the Easterly line of said Block 39. TOGETHER WITH the following described real property: . That portion of Sections 6 and 7, Township I North, Range 4 West, San Bernardino Base and Meridian as shown on map of Muscupiabe Rancho Recorded in Book 1 of Maps, ^_.."""~,~.~.=,,.-_., . .... '~~.' . .'. .~~ -, ':{54!"',-,~~~,->"-"",~,"~,,,_~~_ .::"" Page 24 and Book 7 of Maps, Page 23, records of said County, more particularly described as follows: Beginning at the intersection of the centerline of Belmont Avenue and the East line of the Irvington Land & Water Company's subdivision as per plat recorded in Book 1, Page 32, records of survey; thence North 200 39' 59" East along the East line of said Irvington Land & Water Company's subdivision, a distance of 598.75 feet; thence South 620 47' 55" East a distance of29.29 feet to the beginning ofa tangent curve concave Southerly having a radius of 88.00 feet; thence Southeasterly along said curve through a central angle of 100 14' 11" an arc length of 15.72 feet; thence tangent to said curve, South 520 33' 44" East a distance of 0.95 feet to a point on a line that lies South 230 04' 35" West a distance of 31.65 feet from corner No.7 as described in that certain Deed from the Muscupiabe Land & Water Company to the City of San Bernardino, recorded June 30, 1921 in Book 724, Page 8 of Deeds; thence South 23004' 35" West a distance of 594.83 feet to a point on the centerline of Belmont Avenue; thence North 620 47' 55" West along said centerline, a distance of20.50 feet to the point of beginning. EXCEPT THEREFROM, any portion thereof lying within Belmont A venue.