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CITY COU*K= <br />TOM OF LOS ALTOS HILLS <br />26379 Fremont Road <br />Los Altos Hills, California <br />MEJMS OF A SPECIAL MEETING <br />Thursday, March 24, 1983 <br />ro: Reel 142, Tr. I, Side II, 302-485 <br />Mayor Perkins called the Special Meeting of the City Council to order at 4:00 p.m. <br />in the Council Chambers of Town Hall. <br />A. ROLL CALL' <br />Present: Mayor Perkins and Councilmenbers Allison, Hillestad, Proft and van Tamelen <br />Absent: None <br />Staff: City Manager Ann Hinshaw, City Attorney Frank Gillio and City Clerk Pat <br />DOW <br />Press: Mary Duenwald, Peninsula Times Tribune; Ed Hering, San Jose Mercury <br />•:11• M'l:M•I • • �' •PIONW06WOODDION • i• I I :I4. <br />1. Lot #13 <br />Jackye Wolfe, Fox & Carskadon, reported that she had received an offer on Lot #13 <br />of 255,500 fall cash offer), with a closing date of April 16, 1983 and an increase <br />in the deposit to 108 of purchase price within 14 days of removal of all contingen- <br />cies. <br />The potential buyer through his broker explained that this offered price was <br />$3,500 more than required with a 108 cash discount. Originally it appeared that <br />there were going to be multiple offers on Lot #13, thus the increase in the offered <br />price. The potential buyer now wanted to change his offered price to $252,000 since <br />his was the only offer on Lot #13. In addition the following changes were discussed: <br />closing date changed £ran April 16 to April 15; increase in the deposit to 108 of <br />purchase price within 5 days of removal of all contingencies. <br />MOTION SBODNDED AND CAPJ=: Moved by Hillestad, seconded by van Tamelen and <br />passed unanimously to adopt Resolution #1538 accepting proposal and ordering sale <br />of real property, directing payment of real estate camiission, authorizing execu- <br />tion and delivery of deed concerning Lot 13, Tract No. 7187, Matadero Creek Sub- <br />division, subject to price of $252,000, closing date of April 15 and receipt of <br />deposit within five days. <br />2. Lot #3 <br />Jackve <br />If e_ Fox & Carskadon, reported that she had received an offer on Lot #3 <br />of $237,500 with a downpayment of $125,000. This reflected 508 cash down and buyer <br />had taken a 58 discount for this downpayment. Seller was to carry a rote for the <br />balance of $112,500 at 148 for 3 years. <br />