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RESOLUTION NO. 1551
A RESOLUTION AMENDING RESOLUTION NO. 1526
RESOLVED, by the City Council of the City of the Town of Los
Altos Hills , County of Santa Clara, State of California, that
Resolution No. 1526 , adopted by the City Council on February 9 , 1983,
and entitled "A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF DEED
AND ACCEPTING DEED OF TRUST AND AUTHORIZING RECORDATION THEREOF CON-
CERNING LOT 11, TRACT NO. 7187 , MATADERO CREEK SUBDIVISION" , be and it
hereby is amended to read as follows :
A RESOLUTION ACCEPTING PROPOSAL AND ORDERING SALE OF
REAL PROPERTY, DIRECTING PAYMENT OF REAL ESTATE COMMISSION,
AUTHORIZING EXECUTION AND DELIVERY OF DEED, AND ACCEPTING
DEED OF TRUST AND AUTHORIZING RECORDATION THEREOF CONCERNING
LOT 11, TRACT NO. 7187 , MATADERO CREEK SUBDIVISION
RESOLVED, by the City Council of the City of the Town of Los Altos
Hills, County of Santa Clara, State of California, that
WHEREAS, the City of the Town of Los Altos Hills (herein called
"CITY") is the owner of certain real property described as Matadero
Creek Subdivision, namely:
TRACT NO. 7187 , being a portion of Lots 1 and 2 of
that part of the Rancho Purissima Concepcion, parti-
tioned for Juana Briones, W. Matthews, R. F. Budges
and T. B. Bishop, recorded in Book "A" of Maps, at
Page 21, Santa Clara County Records,
and consisting of Lots 1 to 20, inclusive; and
WHEREAS, VIJAY KAPOOR and PAMELA KAPOOR submitted a revised
proposal to purchase Lot 11 to which the City of the Town of Los Altos
Hills submitted a counter proposal which was accepted and which counter
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proposal requires VIJAY KAPOOR and PAMELA KAPOOR to pay the amount of
$209 ,700. 00 therefor subject to the City Council approving the proposed
financing of payment of the unpaid balance of the purchase price prior
to the close of escrow, and subject to the terms and conditions con-
tained in that certain "Real Estate Purchase Contract and Receipt for
Deposit" dated February 1, 1983, as modified by the counter offer and
response to counter offer accepted on February 9 , 1983, and as further
modified by Addendum to Purchase Agreement dated April 11, 1983 , and
the counter offer submitted on April 14, 1983 and accepted on April
20 , 1983 , respectively; and
WHEREAS, the counter proposal described in the preceeding paragraph
also requires that the escrow for the sale of Lot 11 close no later than
May 18 , 1983, and that VIJAY KAPOOR and PAMELA KAPOOR shall pay interest
at the rate of fourteen (14) percent per annum from and after April 18 ,
1983, on the total sales price of $209,700. 00 until the close of escrow,
NOW, THEREFORE, IT IS FOUND, ORDERED AND DETERMINED as follows:
1. The City Council hereby accepts the proposal described above
and orders the sale of Lot 11 to VIJAY KAPOOR and PAMELA KAPOOR for the
purchase price stated in the Counter Offer dated April 14 , 1983 .
2. The City Council further ordersthat the land title company
with whom an escrow concerning the sale of Lot 11 is opened shall be
instructed to pay out of the funds of VIJAY KAPOOR and PAMELA KAPOOR
deposited in escrow a real estate commission in an amount equal to
six (6) percent of the selling price in accordance with the Agreement
dated September 1, 1982 , between the City of the Town of Los Altos Hills
and Fox & Carskadon, Inc. , a corporation.
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3. The City of the Town of Los Altos Hills shall enter into and
the Mayor and City Clerk thereof be, and they and each of them hereby
is authorized and directed on behalf of said City, respectively, to
execute and attest a Deed wherein Lot 11 is conveyed to VIJAY KAPOOR
and PAMELA KAPOOR, and to deliver the Deed in accordance with the terms
and provisions of the proposal , as amended.
4 . The Note for the unpaid balance of the purchase price of Lot
11 executed by VIJAY KAPOOR and PAMELA KAPOOR, together with the Deed
of Trust in which the above-named buyers are named as Trustor and the
City is named as Beneficiary, be and each of them is hereby accepted,
and the City Clerk of the City be, and she hereby is directed and
ordered to cause said Deed of Trust to be recorded in the Office of
the Recorder of the County of Santa Clara, State of California.
REGULARLY passed and adopted this 20th day of April, 1983 .
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By \
Mayor
ATTEST:
City Clerk
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