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RESOLUTION NO. 3623
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF ARCADIA, CALIFORNIA
APPROVING THE EXCHANGE AND SALE OF
CITY OWNED REAL PROPERTY AND
AUTHORIZING AND DIRECTING THE
EXECUTION AND DELIVERY OF ALL
REQUISITE DOCUMENTS.
THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA,
DOES HEREBY DETERMINE AND RESOLVE AS FOLLOWS:
SECTION 1. That the City of Arcadia is the owner
of the westerly 60 feet of Lot 9 and the easterly 90 feet of
Lot 10 of Tract No. 6074, per map recorded in Book 67, page 83,
of Maps in the office of the Recorder of Los Angeles County.
That the City of Arcadia has no present or foreseeable need
of said property for any public purpose, except the northerly
12 feet thereof' for road purposes, and possibly the southerly
30 feet thereof' for public street or alley purposes. That
the interests of the City of Arcadia and of the residents and
property owners thereof will best be served by the sale and
exchange thereof (except the northerly 12 feet thereof) for
the property hereinafter described and to be conveyed to the
City of Arcadia and for the other considerations hereinafter
set forth.
SECTION 2. That the Mayor and City Clerk are hereby
authorized and directed to execute for and on behalf of the
City of Arcadia a grant deed conveying to Arcadia Masonic
Temple Association, Inc. the westerly 60 feet of Lot 9 and
the easterly 90 feet of Lot 10 of Tract No. 6047, per map
recorded in Book 67, page 83, of Maps in the office. of the
Recorder of Los Angeles County, eKcept the northerly 12 feet
and the southerly 84.34 feet thereof, and to deliver such deed
to said Grantee together with a Policy of Title Insurance in
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the amount of $56,500.00 upon receipt of a deed with title similarly
guaranteed in like amount conveying to the City of Arcadia Lots 31,
32, 33 and 34 of Blockb8 of Tract No. 866, per map recorded in Book
16, pages 198 and 199, of Maps in the office of the County Recorder
of Los Angeles County, together with the sum of $10,000.00, an Agree-
p
ment for the purchase of the southerly 84.34 feet of said property
owned by the City for the sum of $22,140.00 payable at the rate of
$153.75 per month plus interest on the unpaid balance of the purchase
price, the first payment to be due February 1, 1965 and interest to
start accruing at the rate of 6% per annum from and after February 1,
1965, and a Lease back by the Grantor of the aforesaid property to
be conveyed to the City, rent free to June 30, 1965 and for four (4)
additional months at Lessee's option at a monthly rental of $450.00.
The Mayor and City Clerk are hereby directed to execute for and on
behalf of the City of Arcadia such Lease and such Purchase Agreement
upon aforesaid basic terms and in the form approved by the City
Attorney.
SECTION 3. The City Clerk shall certify to the adoption
of this resolution.
I HEREBY CERTIFY that the foregoing resolution was adopted
a t a regular meeting of, the City Council of the City of Arcadia held
on the 15th day of October, 1963, by the affirmative vote of at
least three Councilmen, to wit:
AYES:
Councilmen Balser, Reibold, Turner and Phillips
NOES:
None
ABSENT: Councilman Butterworth
~~h?~ ~~
City Clerk of the City
Arcadia
SIGNED AND APPROVED this 15th day of October, ~963.
Mayor 0
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