HomeMy WebLinkAboutResolutions - No. 1563In the City Council
City of Lodi
Lodi, California
RESOLUTION NO. 1563
AUTHORIZING SALE OF BLOCK 36 MAP OF
MOKELUMNE, COMMONLY KNOW AS ;' SALEM
SCHOOL GROUNDS", STATING THE AMOUNT
OF THE SALE PRICE THEREOF AND DIRECT-
ING ESTABLISHMENT OF ESCROW TO AC-
COMPLISH THE PURPOSE OF SUCH SALE.
WHEREAS, The purpose for which the following described
property was acquired no longer exists, the City of Lodi having
purchased lands better suited for park and playground space
than said property, and,
WHEREAS, This City Council has informally solicited bids
for said property and has sought for and obtained estimates of
the true value thereof and is convinced that the offer of Roy
K. Miura is the highest and best offer that can be obtained for
it, therefore,
BE TT RESOLVED, That the City of Lodi sell to Roy K.
Miura. the following described real property in the City of
Lodi, San Joaquin County, California:
BLOCK THIRTY-SIX (36), MAP OF MOKELUMNE, (NOW CITY
OF LODI), LYING.NORTH OP THE NORTH LINE OF LODI
AVENUE.
3sId property is sold Under the following terms and con-
ditions:
(1) Buyer shall deposit with seller as evidence of good
faith and performance the sum of A3,500.00.
(2) Seller shall deposit a grant deed to said property
with. Security Title and Insurance and Guarantee Company in
escrow, to he delivered to said Roy K. Miura or assigns upon
the payment by said Miura of the further sum of $31,500.00 to
be disbursed by said Security Title Insurance and Guarantee
Company as follows:
(a) To Carl T. Lind, as Commission on said sale,
(beim; one-half of his said commission
assumed by seller)
(h)
To said Title Insurance Company, one-half of
its fee ($96.00) for a policy of title insurance
showing that title is insured to said Roy K.
Miura es owner thereof
(c) To City of Lodi, the remainder of said $31,500.00
in payment for said property.
To effect the purposes of this sale, the City Clerk is
hereby directed to establish an escrow with the Title Insurance
Company named above herein and the Mayor of this City is hereby
authorized and. directed to sign, execute and deliver the deed
also hereinabove mentioned.
x
The foregoing Resolution No. 1563 adopted in a
special meeting duly called and held on September
28, 1950, all Councilmen signing written consent
to said meeting prior to the holding thereof.
J. F. RLAKELY, City Clerk
September 28, 1950