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HomeMy WebLinkAboutTC Res 1973-09-12 RESOLUTION NO. 571 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TIBURON AUTHORIZING EXECUTION OF AGREEMENT TO PURCHASE LAND BE IT RESOLVED by the City Council of the City of Tiburon that the Mayor of the City of Tiburon be authorized to sign, and the City Clerk be authorized to attest, that certain agreement to pur- chase land attached hereto, and that the Mayor and City Clerk be authorized to sign the promissory note, deed of trust, and any and all other documents necessary to consummate the transaction autho- rized by said agreement. BE IT FURTHER RESOLVED that the funds necessary to pay the principal sum of the promissory note referred to above be paid out of those moneys now on deposit at Bank of America, NT&SA, Tiburon branch, in certificate of deposit Nos. 00005 and 00006, and that such funds be used for the payment of said note prior to any other expenditure by the City from said funds. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the City Council of the City of Tiburon, Marin County, California, at an adjourned regular meeting thereof, held on the 12th day of September, 1973, by the following vote, to wit: NOES: Councilmen: Aramburu Becker, Fanning, Li ttman Sennett ' Councilmen: None AYES: ABSENT: Councilmen: None ,0Z.A3L- BERT BALMER, City Clerk~ City of Tiburon, Marin County, California. Draft date: 9/12/73. AGREEMENT THIS IS AN AGREEMENT made September , 1973, at Tiburon, California, between the CITY OF TIBURON, a municipal corporation, hereafter "City", and HENRY J. EAVEY, hereafter "Eavey". RECITALS 1. Eavey is the owner of certain real property located in the City of Tiburon, County of Marin, State of California, which said property is more particularly described in Exhibit "A" at.tached hereto, hereafter referred to as the "property". . 2. As an important part of its open space acquisition program, City desires to acquire a portion of the property and has attempted to negotiate with Eavey for the purchase of such portion. Eavey, however, has steadfastly refused, and continues to refuse, to divide the property, or to sell any part thereof on any basis other than that City acquire the whole property. 3~ In order to obtain the portion of the property hereinabove referred to, City agrees to purchase the entire property on the terms ana conditions hereinafter set forth, and Eavey agrees to sell the property to City on said terms and conditions. AGREEMENT 1. The total purchase price for the property is th3 sum of $232,000, lawful money of the United States, payable by City as set forth in paragraph 2 below. In consideration thereof, Eavey hereby agrees to convey fee title to City of the real property described in Exhibit "A", subjecl only to the exceptions set forth in Exhibit "B". 2. An escrow shall be opened within five (5) working days of the date of this Agreement at Marin Title Guaranty Company, San Rafael, California. within five (5) working days from the opening of the ~scrow, City shall deposit therein cash in the sum of $60,000 and its promissory note, duly executed as required by law, payable to Eavey in the principal amount of $172,000. Said note shall be non interest bearing and in standard form and shall be payable on or before November 12, 1973. City shall also deposit in said escrow a first deed of trust on the property being sold hereunder securing the payment of said promissory note. City shall also deposit into escrow irrevocable instructions to deliver ~aid sum of $60,000, said note and said deed of trust to Eavey at such time as there has been deposited into escrow by Eavey a grant deed to the property, which deed shall be sufficient to convey clear marketable title to City subject only to the restrictions set forth in Exhibit "B" and at such time as Marin Title Guaranty Company is prepared to issue to City a standard CLTA title insurance policy insuring City in, the amount of $232,000 and showing title thereto vested in the City subject only to the restrictions set forth in Exhibit "B" a!ld at such time as escrow closes. City acknowledges that any difference betwe~n the fair market value of the property and the bargain sale price of $232,000 is a charitable contribution being made by Eavey to city. 3. Eavey shall deposit into escrow, within five (5) work- ing days from the opening of the escrow, his grant deed to the property subject only to the restrictions set forth in Exhibit "B", which deed shall be sufficient to convey clear, marketable title to City. Eavey shall also deposit into said escrow irre\-ocable instructions to deliver said aeed to City at such time as the escrow holder is in a position to deliver the cash and documents referred to in paragraph 2 hereof to Eavey. Eavey warrants and represents that he has clear, marketable title to the property and has full and conclusive authority to convey the same. 2. .' ',' " . ,., ''I 4. city shall be entitled to possession of the real property upon close of escrow. 5. Eavey represents that he knows of no liens, . ~' restrictions, easements, rights of.way, or.other encumbrances on the property, except s~ch as may be set forth in Exhibit . nBII. Eavey further represents that he has no knowledge of any existing leases, agreements, or other commitments with respect to the property. 6. Costs of escrow, title in~urance, real property . . taxes, assessments shown on Exhibit ."B" , and documentary transfer tax, ~f any, shall be paid by City. . 7. In the event City fails to deposit in escrow any sums or documents required 'of it, and by the time required, or if this escrow may not be closed by the time provided for hereunder, through no fault of Eavey', then Eavey may, by wri t- ten notice, instruct the escrow holder to return all sums or docume~ts deposited by him in escrow. Such notice shall not, however, constitute a waiver by Eaveyof any rights he may have against City for breach of this Agreemen~. 8. In the event Eavey fails to deposit into escrow any sums or documents required of him, and by the time required, or if this escrow may not be closed by the time provided for hereunder, through no fault of City, then City may, by written notice, instruct the escrow holder to return all sums or docu- ments deposited by it in escrow. Such notice shall not, how- ever, constitute a waiver by City of any rights it may have against Eavey ~or breach of this Agreement. 9. The form of deed used in conveying the property shall be subject to the approval of the City Attorney. Evi- dence of title shall be a standard CLTA title insurance policy 3. 1::,::; ," ::'; . :;. . . ..,..' " :-, ,", ;. r .'r. . issued by Marin Title Guaranty ~ompany, insuring title in ;" City, subject only to such liens, encumbrances, easements, restrictions, rights and 'conditions of record as set forth in Exhibi t "B". 10. Escrow shall be closed in compliance with this Agreement on or before October . 1, 1973. , 11. No notice, demand, or ch~nge of instructions shall .. be of any effect in escrow or recogn~zed by the escrow holder unless given in writing by both parties. 12. At close of escrow, the escrow agent shall deliver to City: (a) The original documents of title to the real property described in Exhibit "A", .such documents having been duly recorded in Marin County. '. (b) A CLTA policy of title insurance insuring City in the amount of . $232,000, and showing title thereto vested ~n City. 13. . At close of escrow, the escrow agent shall deliver to Eavey: (a) The sum of $60,000. (b) The promissory note and deed of trust re- ferred to in paragraph 2 above. 14. Time is of the essence in the performance of this Agreement. 4. , . , '... .:.... . " , ... ,- , . : I . " 15. This Agreement shall apply to and 'bind the heirs, successors, executors, administrators and assigns of the par- ties. ,IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate the day and year first above written. CITY OF TIBURON, a municipal corporation. .. By ATTEST: a~ '~ BERT BALME~~tY Clerk >iC),_Ld 711, (-;::.< " . . ELI ZABETH M'. EA VEY t! 5. ". ) " . I,. .: I :.. .t'" .1 . I, r ( EXHIBIT "A" . I ""!~r:-~~y- ....~..~ ;''') '~'. ...~::~'4;' ~....~",;.. ..--.. ..' ..,.. '. _._.~..... ...-" ..... -.. . That certain real property situate in the County of Marin, State of California, described as follows: . !^RCEL 2.!!f.: '. BEG~NNING at a point on the Southeasterly 1ine of that certain tract of land described in the Deed from John J. Reed to Clothilde J. Ree9, recorded December 2, 1899 in.Liber 58 of Deeds, at pa~e 168, Marin ~ounty Records, distant thereon North 340 42' East (California Stute High\o/ay t1eridian, Rancho Meridian being North 340 15' East) 704.77ll feet from its intersection with the Northeasterly right of way line of California State Highway as approved on June 16, 1930 and shown on plan designated District IV, l~arin County Route 52, Section A; running thence North 400 28' West 96l~.088 feet, North 450 09' ,.Jest 65.0 feet, North 400 00' East 1070.0 feet and South 480 30' East 910.0 .feet, more or less, to the Southeasterly line of the tract of land described in the above mentioned Deed; running thence on a straight line bearing South 340 ~2~ West (California State Highway Heridian Rancho Meridian) 1210.0 feet, more or less, to ~he point of beginning. . CONTAINING 25.0 acres, more or less. " '\ \ PARCEL THO: AN BASEMENT for roadway and utility purposes over a 60.0 foot strip of land, the center line of which is described as follows: BEGINHING at a point on the lJ'orthea~torly right of way line of CL\1.i forni" State IIiRhway Route 52, Division 4,'Marin County, California, at Enrineer's Station 201 plus 72.G5 runninr thence Horth 490 32' 'Cast 717.10 feet, to a point on the Southwesterly line of the parcel of land described in the Deed from C. O. Sollom, Administrator, etc., to Warren L. GOJtick, et aI, dated January 21, 1949 and recorded January 24, 19l;9 in Liher 607 of Official Records, at pap,e 152. P^RCr:L ~: NJ E^SEMENT for roadway and utility purposes of the uniform width of ~o feet, the center line of which is described as follows: nF.GIWnHG at Station' B as set forth in the Deed from \olarren L. ROGtick, at al, to Nicholas S. Pederson, ct ux, bV Deed recorded february 9, 1950 in l~iber 639 of Official Records, at pa~e 190, Marin Coun~y Pccords~ running thence from said point of bep.inninr, South 340 11' Hcst. 30~1. /121 fcct; thence on a curve to the left, with a radius of 500 feet, a distilncc of l72.3~l feet~ thence South 140 2&' \'lest in a direct line to the intersection thereof with the cilll Get forth as "North lll30 3J' 'vJost 910 feet, ,more or 1055", in the Deed from Warren L. Bostic}.:, ct ux, to Stepnen Heller, et ux, recordod November 26, 1957 in Liver 1156 of Official Records, at pago 136.