HomeMy WebLinkAbout1989-098
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RESOLUTION NO.
89-98
RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF A FOURTH AMENDMENT TO AGREEMENT WITH YVONNE EVERETT
AND TAMARIO FUNN RELATING TO THE PURCHASE AND. SALE OF CERTAIN
REAL PROPERTY.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO AS FOLLOWS:
SECTION 1.
The Mayor of the City of San Bernardino is
hereby authorized and directed to execute on behalf of said City
a Fourth Amendment to Agreement with Yvonne Everett and Tamario
Funn relating to the purchase and sale of real property.
This
Fourth Amendment to Agreement is attached hereto marked Exhibit
"A" and incorporated herein by reference as though fully set
forth at length.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
Bernardino at a
meeting thereof, held on the 3rd
requ1ar
day of
April
, 1989, by the following vote, to wit:
AYES:
Council Members Estrada, Flores, Mauds1ey,
Minor, Pope-Ludlam
NAYS:
None
ABSENT:
Council Members Reilly, Miller
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Ci'ty Clerk
/ I I I
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DEB:ms
March 30, 1989
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RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF A FOURTH AMENDMENT TO AGREEMENT WITH YVONNE EVERETT
AND TAMARIO FUNN RELATING TO THE PURCHASE AND SALE OF CERTAIN
REAL PROPERTY.
The foregoing resolution is hereby approved this
~~-L day
April
of
, 1989.
Izd1f.~ -/L~~~
vlyn Wi ox, Mlfyor ,
City of San Bernardino
Approved as to
form and Legal Content:
JAMES F. PENMAN,
City Attorney
1- ~
DEB:ms
March 30, 1989
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FOURTH AMENDMENT TO AGREEMENT
(Kellogg Library)
THIS FOURTH AMENDMENT TO AGREEMENT is made and entered into
~
this se.0 day of
, 1989, by and between the CITY
OF SAN BERNARDINO, a municipal corporation, hereinafter referred
to as "City", and YVONNE EVERETT and TAMARIO FUNN, individuals,
hereinafter referred to as "Purchasers".
WITNESSETH:
WHEREAS, the parties hereto have agreed for the purchase
and sale of certain real property described in an Agreement dated
June 30, 1983; and
WHEREAS, said Agreement requires that the entire purchase
price be due and payable on or before July 1, 1988; and
WHEREAS, on August 11, 1988, the parties amended said
Agreement to extend said deadline until October 1, 1988, and
WHEREAS, the parties on October 24, 1988 amended said
agreement to extend said deadline until December 1, 1988; and
WHEREAS, the parties on December 19, 1988 amended said
Agreement to extend said deadline until March 20, 1989, and
WHEREAS, the parties now desire to further extend this
agreement ninety (90) days to allow the lessee time to secure
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financing to exercise the purchase option or make a final
analysis and resolution of the right and duties of the parties.
NOW, THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:
1. Paragraph 2 of the Agreement dated June 3, 1983,
DEB:ms
March 30, 1989
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between the parties as amended is hereby further amended to read
as follows:
"2.
Consideration and Forfeiture.
The Purchasers agree
to pay for said premises the sum of FIFTY THOUSAND DOLLARS
($50,000), payable as follows:
Forty-five Hundred Dollars
($4,500) heretofore paid by Purchasers and their predecessors
in title, pursuant to the lease with option to buy previously
in agreement as to this property, whereunder lease payments
were to be credited against the purchase price; receipt of this
Forty-Five Hundred Dollars is hereby acknowledged by City; the
remaining Forty-Five Thousand Five Hundred Dollars shall be
paid in installments including interest on all unpaid principal
from date hereof until date of payment at the rate of seven
percent (7%) per annum.
The first installment of Two Hundred
and Seventy-five Dollars ($275.00) to be paid July 1, 1982, and
a like amount shall be paid on the same date of each month
thereafter until June 20, 1989, at which time the entire
balance of principal and interest outstanding shall be paid in
full.
The amount of the final payment, however, shall be the
total of the principal and interest then due. All payments to
be made by the Purchaser shall be paid with lawful money of the
United States of America. Credit shall be given to purchasers
for all lease payments made between July 1, 1982, and the date
of actual execution of this Agreement, which payments shall be
applied as payments on this contract. Possession has
previously been delivered to the Purchasers, and purchasers
DEB:ms
March 30, 1989
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.
shall remain in possession pursuant to this Agreement, unless
such possession is terminated by the termination of this
Agreement."
2. Except as amended herein, the original Purchase
Agreement, as previously amended, shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment to Agreement on the day and date first above shown.
ATTEST:
~##~
/ City erk
By
PURCHASERS:
BY~~~
Yvonne Everett
BY~~ ?~
/ Tamario Funn
Approved as to form
and legal content:
b'l ~~
~//~
JAMES F. PENMAN
City Attorney
By ~1'- ~
{/
DEB:ms
March 30, 1989
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