HomeMy WebLinkAbout1981-231
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RESOLUTION NO. P/-~/__
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF AN AGREEMENT At10NG THE CITY OF SAN BERNARDINO, THE
3 SECURITY PACIFIC NATIONAL BANK AND DE VAUGHN PETERSEN AND COLLEEN
PETERSEN RELATING TO REAL PROPERTY LOCATED AT 1153 HAMPSHIRE ROAD.
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BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
5 SAN BERNARDINO AS FOLLOWS:
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SECTION 1. The Mayor of the City of San Bernardino is hereby
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authorized and directed to execute on behalf of said City an agree-
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ment among the City of San Bernardino, the Security Pacific Nation
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a1 Bank and De Vaughn Petersen and Colleen Petersen relating to
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real property located at 1153 Hampshire Road, a copy of which is
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attached hereto, marked Exhibit "A" and incorporated herein be
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reference as fully as though set forth at length.
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I HEREBY CERTIFY that the foregoing resolution was duly
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adopted by the Mayor and Common Council of the City of San
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Bernardino at a
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meeting thereof, held
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on the / A-i
day of
, 1981, by the following
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vote, to wit:
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AYES:
Councilmen ~A-J;;,At ~ ~'1~' If'fIt4'Ad1J,,
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NAYS:
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ABSENT:
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' City C erk
s O(J day
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/-\The foregoing resolution is
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of
1981.
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Approved as to form:
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City A torney
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A G R E E MEN T
:/A
/t day
of
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THIS AGREEMENT is made and entered into this
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a California municipal corporation ("City"), the SECURITY PACIFIC
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, 1981, by and between the CITY OF SAN BERNARDINO,
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NATIONAL BANK ("Bank") and De Vaughn Petersen and Colleen Peter-
6 sen, husband and wife ("petersens").
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The parties agree as follows:
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SECTION 1. Recitals
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a. Petersens are the owners of residential real property
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located at 1153 Hampshire Road in the City of San Bernardino,
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referred to as "the premises", and described As follows:
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Lot 33, Tract 6206, as per plat recorded
in Book 87 Pages 77 through 79 inclusive
of maps, records of said county, and
amended Map recorded in Book 96 of Maps,
Pages 18 to 20, inclusive, records of
said County.
b. The premises are subject to a trust deed to Bank,
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securing a promissory note from Petersens to Bank.
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c. Petersens have filed a claim against City relating to
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injuries alleged to have occurred as a result of floods known as
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the "Harrison Canyon floods", which occurred in 1980.
d. City desires to acquire the premises for the purpose of
construction of certain open space, recreational and flood pro-
tection projects.
e. The parties have agreed to a series of transactions
which will result in accomplishment of the objectives of each
party.
SECTION 2. Agreement
The parties agree to perform the following acts:
a. City agrees to pay to Petersens the sum of $15,000 in
settlement of their claims for damage resulting from the Harrison
2 Canyon floods.
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b. Petersens agree to execute and deliver a suitable form
4 of release, releasing City from any and all liability for any dam-i
5 age which occurred as a result of the Harrison Canyon floods.
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c. Petersens agree to execute, record and deliver to Bank a
7 deed in lieu of foreclosure of Bank's deed of trust.
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d. Bank agrees to accept Petersens' deed in lieu of fore-
9 closure and to release Petersens from any further liability to
10 Bank.
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e. City agrees to pay to Bank the sum of $25,000 as the
]2 purchase price of the premises.
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f. Bank agrees to execute, record and deliver to City a
14 grant deed conveying title to the premises.
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SECTION 3. Mutual Consideration
16 Each of the promises and obligations undertaken by each
17 party is in consideration for each of the promises and obliga-
18 tions undertaken by the other parties.
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SECTION 4. Time of Performance. Escrow.
20 Each party agrees to complete performance of all acts re-
21 quired under this agreement within 30 days after its execution.
22 The parties agree that the services of an escrow agent may be
23 used to facilitate performance.
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SECTION 5. Notices
All notices under this agreement shall be in writing and
delivered in person or sent by certified mail, postage prepaid,
addressed as follows:
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"City"
"Petersensll
City of San Bernardino
Real Property Division
300 North D Street
San Bernardino, CA 92418
Mr. & Mrs. DeVaughn Petersen
1153 Hampshire Road
San Bernardino, CA 92404
"Bank"
Mr. W. A. Munster, Jr.
Assistant Vice President
Security Pacific National Bank
P. O. Box 60782 Terminal Annex
Los Angeles, CA 90060
IN WITNESS ~REOF, the parties hereto have executed this
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I' agreement on the date hereinabove written.
II ATTEST:
CITY OF
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C~ty C er
MR. AND MRS. PETERSEN
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By , 'P1'71
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SECURITY PACIFIC NATIONAL BANK
Approved as to form:
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By-.L1lr... l,~
(Assistant Vice resident
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'C~ty At orney
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