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RESOLUTION NO. 1495
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 20, 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 pert 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, Michael Del Castello has submitted a proposal to purchase
Lot 20 and to pay the amount of $250,000 therefor subject to the terms
and conditions contained in that certain "Real Estate Purchase Contract
and Receipt for Deposit" dated October 28 , 1982,
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 20 to Michael Del Castello for the purchase
price stated in the proposal; provided, however , that the "Covenants,
Conditions and Restrictions , as amended to date" shall be included in
Paragraph 6 entitled "Addenda" ; and provided, further , that the City
Council approves of the proposed financing ofpaymentof the unpaid
balance of the purchase price prior to the close of escrow.'
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2. The City Council further orders that the land title company
with whom an escrow concerning the sale of Lot 20 is opened shall be
instructed to pay out of the funds of Michael Del Castello deposited
in escrow a real estate commission in an amount equal to six (6) per-
cent of the selling price in accordance with the Agreement dated S
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 20 is conveyed to Michael Del
Castello, a single man, 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
20 executed by Michael Del Castello, together with the Deed of Trust
in which the abovenamed buyer is 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(C:illailte of California.
•
REGULARLY passed and adopted this 3rd day of November , 1982.
By
ATTEST ' Mayor
City Clerk