HomeMy WebLinkAbout1524 411 •
RESOLUTION NO.
1524
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 5 , 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, partitioned 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; 'James G. Barrow and. Leslie L. Barrow have submitted a
proposal to purchase Lot 5 and to pay the amount of $220, 000 . 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 contained in
that certain "Real Estate Purchase Contract and Receipt for Deposit"
dated January 19 , 1983, and Counter Offer dated January 24, 1983 ,
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 5 to James G. Barrow and Leslie L. Barrow
for the purchase price stated in the proposal.
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2. The City Council further orders that the land title company
with whom an escrow concerning the sale of Lot 5 is opened shall be
instructed to pay out of the funds of James G. Barrow and Leslie L.
Barrow deposited in escrow a estate commission in an amount equal
to six (6) percent of the selling price in accordance with the Agree-
ment dated September 1, 1982, between the City of the Town of Los Altos
Hills and Fox & Carskadon, Inc. , a corporation.
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 5 is conveyed to James G. Barrow
and Leslie L. Barrow, and to deliver the Deed in accordance with the
terms and provisions of the proposal.
4 . The Note for the unpaid balance of the purchase price of Lot
5 executed by James G. Barrow and Leslie L. Barrow, 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 2nd day of February, 1983 .
ATTEST: - By . �
Mayor
City Clerk
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