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HomeMy WebLinkAbout3623 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 -1- 3623 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 ~&6J -2- 3623