HomeMy WebLinkAbout12949
"
1
RESOLUTION NO. / c:? 7'--1 Y
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF AN AGREEMENT WITH THE REDEVELOPMENT AGENCY OF THE
3 CITY OF SAN BERNARDINO RELATING TO THE PURCHASE OF THE ELK'S CLUB
BUILDING LOCATED AT 466 WEST 4TH STREET.
4
BE IT RESOLVED BY THE ~1AYOR AND COMMON COUNCIL OF THE CITY
5 OF SAN BERNARDINO AS FOLLOWS:
6
SECTION 1. The Mayor of the City of San Bernardino is
7
hereby authorized and directed to execute on behalf of said City
8
9
an Agreement with the Redevelopment Agency of the City of San
Bernardino relating to the purchase of the Elk's Club Building
10
located at 466 West 4th Street, a copy of which is attached
11
hereto, marked Exhibit "I" and incorporated herein by reference
12
as fully as though set forth at length.
13
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
14
15
a~/ /J~//A-~/ meeting thereof, held
day of ~rd ' 1977, by the following
councilmen~~/~4/ ~)~/~hut~
#/~~~ #dh./ ./
?./A/U//~fA4/ ~F"/
-c~;>-/'/4UAA') ~.L~-{/
~/.{I(y~
resolution is hereby approved this /~;r~ day
, 1977.
Bernardino at
16
on the /o1d
17
vote, to wit:
18
AYES:
19
20
NAYS:
21
ABSENT:
22
23
24
25
of
26
27
t:)nard~no
28
"
s::?!~ 1977
~pl,ln
1
A G R E E MEN T
---------
2
(Purchase of Real Property - 466 West 4th)
THIS AGREEMENT is made and entered into this /~A6 day
.
I
I
of
, 1977, by and between tJ\e REDEVELOPMENT
3
/
/' r,,-:f2d-NYA4-
4
5 AGENCY OF THE CITY OF SAN BERNARDINO, a 'state redevelopment agency
6 hereinafter called "Seller", and the CITY OF SAN BERNARDINO, a
7 municipal corporation, hereinafter called "Purchaser".
8 WIT N E SSE T H:
------
9 WHEREAS, Seller is the owner of a certain lot and parcel
10 of real property with the Elk's Club Building situated thereon
11 on the north side of Fourth Street between "E" Street and "D"
12 Street at 466 West Fourth Street in the City of San Bernardino,
13 hereinafter referred to as the "Elk's property"; and
14 WHEREAS, said property known as the "Elk's property" is
15 described as set forth on Exhibit "A" attached hereto and in-
16 corporated herein by reference; and
17
WHEREAS, Purchaser and Seller, by Resolution No. 12932
18 and Resolution No. 3404, have, respectively, made the find-
19 ings and determinations required by Section 33433 of the Health
20 & Safety Code of the State of California; and
21
WHEREAS, Seller did on the 7th day of July, 1977 grant
Ito
Purchaser an option to purchase the "Elk's property", a copy
22
23 of said option is attached hereto, marked Exhibit "B" and in-
24 corporated herein by reference; and
25 WHEREAS, Seller desires to sell said "Elk's property" to
26 Purchaser and Purchaser desires to exercise said option to
27 purchase said property from Seller upon the terms and conditions
28 hereinafter set forth,
1
NOW, THEREFORE, in consideration of the mutual covenants
r-
.1
I
i
'!
2 and agreements hereinafter set forth, Seller and Purchaser hereby
3 agree as follows:
4
1. Seller agrees to sell and convey to the Purchaser, and
5 Purchaser agrees to purchase, all those lots, tracts or parcels
6 of land and premises, together with all improvements now erected
7 thereon, as particularly described in Exhibit "A" attached hereto
8 and made a part hereof, situate, lying and being in the City of
9 San Bernardino, County of San Bernardino, State of California.
10
(a) This sale does not include any personal property
11 now on the premises.
12
2. The purchase price is eight hundred eleven thousand
13 seven hundred seventy-eight dollars ($811,778.00) which
14 Purchaser agrees to pay to Seller as follows:
15
(a) Four hundred thousand dollars ($400,000.00) at
16 the closing of escrow and delivery of deed, in cash or by
17 certified check, at the time of the closing as hereinafter pro-
18 vided.
19
(b) An unsecured note for four hundred eleven
I
20 Ithousand seven hundred seventy-eight dollars ($411,778.00), which
I
,
21 Ishall bear interest at the rate of five percent (5%) per annum,
I
22 Iwhich interest shall commence on the date Purchaser takes posses-
23 sion of the premises hereunder and which said note shall be pay-
24 able as follows:
25
(i) An installment of two hundred five
26 thousand eight hundred eighty-nine dollars ($205,889.00) plus
27 accrued interest shall be paid on or before a date one (1)
28 year from the date Purchaser takes possession of the property; and
-2-
1
(ii) A final payment of two hundred five thousand
2
eight hundred eighty-nine dollars ($205,&89.00) plus accrued
interest shall be paid on or before a date two (2) years from the
4 I'date the Purchaser takes possession of the property. Purchaser
3
5 warrants and represents to Seller that it will set aside, reserve
6 ,:and maintain all funds necessary to liquidate in full its obligati n
7 for the full purchase price, together will all interest to be
8 accrued thereon, in its municipal budget for the fiscal year 1977-
11978.
I
i 3. The conveyance shall be by grant deed with full
Icovenants, duly executed at the Seller's sole expense in proper
12 form for recording so as to convey to the Purchaser a good
9
10
11
13 and marketable record title to the land and improvements affected
14 by this contract of sale free and clear of all liens, encumbrances,
15 leases, restrictions and conditions. The closing of escrow shall
16
be conditional upon the delivery of good and marketable title
17
and the issuance of a title insurance policy to such effect
18
Ireasonably satisfactory to the Purchaser by First American Title
IInsurance Company. Seller shall bear the cost of said title in-
I
Isurance. It is understood that title to the real property is not
derived by or through tax title, or by adverse possession. It is
IfUrther understood and agreed that the property being purchased
by Purchaser hereunder is subject to that Declaration of
19
20
21
22
23
24
Restrictions which has previously been recorded on March 31,
25
1977 in Book 9146, page 1093 of Official Records of the County
26
of San Bernardino on file in the Office of the County Recorder
27 of said County. It is further agreed that all obligations
28 hereunder assumed by Purchaser are conditioned and contingent
-3-
1
i'
iupon Purchaser
receiving a grant by the United States Economic
2 Development Administration pursuant to the united States Public
3 Works Improvement Act of 1976. Purchaser has pending an applica-
4 tion for said grant for the purpose of renovating the property
5 being purchased hereunder, and shall do all things reasonably
6 required to complete the obtainment of the said grant.
7
4. If, at the time of delivery of the deed, the premises
8 or any part thereof shall be or shall have been affected by an
9 assessment or assessments which are or may become payable in
10 installments of which the first installment is then a charge or
11 lien or has been paid, then for the purposes of this contract,
12 all unpaid installments of any such assessment shall be deemed
13 to be due and payable and to be liens upon the property affected
14 thereby and shall be paid and discharged by the Seller upon
15 delivery of the deed.
16
5. Seller shall be responsible for all taxes including
17
,
iiany upon any possessory interest therein to the date Purchaser
i'
18
iobtains possession hereunder, and Seller agrees to pay all such
i
iobligations and to hold Purchaser free and harmless therefrom.
I
6. The closing of escrow, including delivery of the deed,
19
20
21
Ijith the necessary evidence of payment of real property transfer I
i,tax, shall take place at the office of First American Title Insuranri e
I,
ICompany at 323 West Court Street, San Bernardino, California i
I~ithin thirty (30) days of the date of execution hereof or at such I
II I
IFther time and place as may be agreed upon by the parties hereto.
i~his date shall be the closing date. The parties hereto agree I
I' I
i~o enter into an escrow forthwith with said title company to i
I I
I
carry out the provisions of this agreement, and agree to share
!
22
23
24
25
26
27
28
-4-
,
I
,I
r
I
1
equally the costs of said escrow.
7. The risk of loss or damage by fire or other casualty
3 or cause to said premises before delivery of the deed is hereby
2
4
assumed by the Seller. In the event of such loss or damage,
5 this agreement shall not be affected but the Seller shall assign
6 to the Purchaser all of its rights under any insurance policies
7 applicable to any such loss or damage, or if the Purchaser shall
8 so request, the Seller shall permit the Purchaser to recover in
9 the Seller's name but at the Purchaser's own expense the amount
10 of such loss upon such policies or if the Seller sues in its
11 own name to recover the amount of such loss or damage, it shall
12 assign the amount so recovered to the Purchaser less expenses
13 of recovery. Seller agrees to maintain insurance upon the premise ,
14 to the closing date herein provided, for the full market value of
15 the improvements on the premises to cover any loss by fire or
16 other casualty to the said premises and structures prior to the
17 closing date herein provided. Said insurance policies shall be
18 in a form and with a carrier satisfactory to Purchaser.
19
8. Seller understands, agrees and warrants to Purchaser
20
that it will deliver possession of the premises to Purchaser
21
on the closing date herein and close this transaction.
This warranty and representation is made with the knowledge and
understanding that Purchaser must commence its contemplated
22
23
24
improvements to the property within ninety (90) days from the
25
date Purchaser is notified by the United States Economic
Development Administration to commence and proceed with the
26
27 planned improvements. Time of performance under this contract
28 is of the essence.
-5-
r
1
9. Both parties hereto represent that they have not
2 dealt or negotiated with any broker or brokers with respect to
3 this transaction.
4
10. The covenants and agreements herein contained shall
5 inure to the benefit of and be binding upon the parties named
6 herein and their respective heirs, executors, administrators,
7 successors and assigns. This contract may be assigned by the
8 Purchaser.
9
11. All notices herein required shall be in writing and
10 delivered in person or sent by certified mail, postage prepaid,
11 addressed as follows:
12 Redevelopment Agency of the City of San Bernardino
300 North "D" Street
13 San Bernardino, California 92418
14
City of San Bernardino
City Administrator
300 North "D" Street
San Bernardino, California 92418
15
16
17 IN WITNESS WHEREOF, the parties hereto have executed this
18 agreement on the date first hereinabove written.
/
19
20
21
22
23
24
ATTEST:
25
26
28
Ap~
,/
27
c~ty
-6-
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
That portion of Lots 2, 3, and 6 and 7, Block 29 of the city of
San Bernardino in the City of San Bernardino, County of San
Bernardino, State of California, as per map recorded in Book 7
of Maps, Page 1, in the office of the County Recorder of said
County, described as follows:
Beginning at a point in the south line of said Lot 2, a distance
thereon westerly 127.00 feet from the southeast corner thereof;
thence westerly along the south line of said Lots 2 and 3, a
distance of 137.11 feet to the southeast corner of the west 35.00
feet of Lot 3; thence norther~y along the east line of said west
35.00 feet of said Lot 3, a distance of 299.03 feet to the north-
east corner of said west 35.00 feet of said Lot 3, said northeast
corner also being a point in the south line of said lot 6;
thence continuing northerly along a line parallel with the west
line of said Lot 6, a distance of 120.00 feet; thence easterly
along a line parallel with the south line of said Lots 6 and 7,
a distance of 213.63 feet to a point in a line that is parallel
with and 200.00 feet west of the east line of said Block 29;
thence southerly along said last mentioned parallel line 200.00
feet west.of said east line of said Block 29, a distance of
120.00 feet to a point in said south line of said Lot 7 and/or
the north line of said ~ot 2; thence westerly along said south
line of said Lot 7 and/or said north line of said Lot 2, a
distance of 1.55 feet to the northwest corner of the east 52.00
feet of said Lot 2; thence southerly along the west lihe of said
east 52.00 feet of said Lot 2, a distance of 109.01 feet to the
northeast corner of the west 75.00 feet of the east 127.00 feet
of the south 190.00 feet of said Lot 2, said last ~entioned north-
east corner also being the northeast corner of that certain
parcel of land described in the Deed to the Bank of America
National Trust and Savings Association, recorded April 14, 1948,
in Book 2212, page 89, Official Records of said county; thence
westerly along the north line of said west 75.00 feet of the
east 127.00 teet of the south 190.00 feet of said Lot 2, a dis-
tance of 75.00 feet to the northwest corner thereof; thence
southerly along the west line of the east 127.00 feet of the
south 190.00 feet of said Lot 2, a distance of 190 feet to the
point of beginning.
,Excepting therefrom that portion
:descrihed as follows:
,
,
I
1.
leased to the Parking District,
All of Lot 2 excepting therefrom the south 190 feet and
excepting therefrom the east 52 feet.
2. All of Lot 3 excepting therefrom the west 35 feet and ex-
cepting therefrom the south 190 feet.
3. The south 120 feet of Lot 6 excepting therefrom the west
35 feet.
4. The south 120 feet of Lot 7 excepting therefrom the portion
I lying within the east 200 feet of said Block 29.
I
EXHIBIT "A"
. .
.
. ~ ..."
.
REAL ESTATE OPTION
THIS OPTION is made and granted this 7th
day of
July
, 1977, by the REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, hereinafter called
the "Agency" to the CITY OF SAN BERNARDINO, a municipal
corporation, hereinafter called the "City".
R E C I TAL S
-------
This Option is made with reference to the following
facts:
1. The Agency is the owner of the real property locat-
ed in the City of San Bernardino, County of San Bernardino,
State of California, described in Exhibit "A" attached
hereto and referred to in this agreement as the property,
having purchased said property for the purposes of re-
development.
2. The City is interested in and desirous of obtain-
ing an option from the Agency and eventually purchasing
the said property from the Agency and the Agency is willing
to grant to the City an option therefor.
3. The consideration for this option is the benefit to
the Agency in disposing of said property for redevelopment
purposes as provided in the redevelopment laws of this state.
EXHIBIT "B"
~ ' '..
,
-
.
.'
.
NOW, THEREFORE, the Agency does hereby grant to the
City the exclusive right to purchase the real property
described in Exhibit "A" until November 15, 1977 for the
purchase price of $811.778.00
If the City fails to exercise this option as pro-
vided herein, it shall automatically terminate without
notice to the City and all rights of the City arising
out of this option shall immediately cease.
That certain Real Estate Option dated the 11th day
of May
, 1977, whereby the Agency granted an
option to purchase the property referred to in this
Real Estate Option is hereby superseded by this Option.
IN WITNESS WHEREOF, the Agency has executed this
Option as of the date first above written.
REDEVEL9P,/HEN,' T;GE CY OF THE CITY
OF / ~/ BE ARDINO. CALIFORNIA
M?If~,//~c~/
WallC~Green, Chairman //
~~~ ~/--
~ R'ii'adwell, Jr., Secr~
APPROVED AS TO LEGAL FORM
AND ADEQUACY: /
./~ ..,-
./ ,,//,
{ /! "' ~ (/ .~'7/f.
WID,' A. lory, Agency Couns
C
---.. .....
.~
-2-
. .
.'