HomeMy WebLinkAboutResolutions - No. 10-01-1923b`4
RESO ZTION
RESOLVED , by the Board of Trustees of the City of Lodi, San
Joaquin County, California, that said City of Lodi shall purchase
and contract to purchase, from Hilliard E. Welch and Ruby G. Welch,
his wife, the real property described in the contract, a copy of
which is hereunto annexed, marked "A" and made a part hereof, at
the price and upon the terms, stipulations and conditions therin
set out, and that the Mayor and City Clerk of said City of Lodi
are hereby directed to sign and execute said contract for and on
behalf of said City of Lodi;
BE IT FURTHER RESOLVED: that, out of the general fund of
said City of Lodi, there is hereby appropriated and set aside
into a special fund which is hereby created, the sum of Nine
Thousand Four Hundred and Fifteen Dollars,($9,415.00) for the
purpose of paying the first installment of the purchase price of
said real property due on or before December 1st „ 1923, and the
Mayor, City Clerk and City 'Treasurer, and each of them, are hereby
authorized and directed to pay the first installment of purchase
price for said real property to Hilliard E. Welch on or before
December 1st „ 1923;
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"A"
THIS COPITRACr made and entered into this 1st day of Oct-
ober, 1923 by and between Hilliard E. Welch and Ruby G. Welch,
his wife doth of Lodi, San Joaquin County California, parties of
the firsi part and the C PY Or LODI a municipal corporation, of
the County of Sian Joaquin, State of �a.lifornia, party of the
second part;
ITNE3ZETH :
to
That the parties of the first part agree to sell/the party.
of the second part and party of the second rt agrees to buy all
that certain real property situated in the zty of Lodi, County
of San Joaquin, State of California, -and described as follows,
to mit:
Lots numbered Seven (7) and Eight (8) in Block Num-
bered Three (3) of the City of Lodi as said lots and Block
are delineated and so designatedupon.the official m p ent-
itled "MOKELUME" filed 4u 4st 25th 1869 in the office of
the County Recorder of the County of San Joaquin, State of
Cal if ornia.
in consideration whereof the party of the second part agrees
U? ay to said HilliardE. Welch the sum of Eighteen Thousand
EiN t Hundred Thirty (18,830.00) Dollars, pa able at the times
axi in the manner followinngg that is to say, Nine Thousand Four
Hundred Fifteen, ($9,415.00 Dollars on or before December 1st
1923, and the balance, to -wit, the sum of Nine Thousand Four Hun-
dred Fifteen,($9,415.00) Dollars on or before December lst,1924,
without interest, the pgr
parties of the first part agree that upon
the payment of said purchase price in full, they will execute and
deliver to the party of the second part a good and sufficient
deed of grant, bargain and sale conveying said land to the party
CIE the second part free of all liens and encumbrances, except
such taxes as the party of the second part herein agrees toy;
and the parties of the first part further agree that at the ime
of del, of said deep} they will furnish to said party of the
second an unlimited certificate of title from a reliable
abstr and title compananyy showing� the title in said lands to
he vested in said Hilliara E. Welch free of all liens and en-
cumbrances except taxes which are herein agreed to be paid by the
party of the second part.
It is understood and agreed that upon the payment of
said first installment of the purchase price the party of the
second part shall be entitled to enter into possession of said
I eal propertyand thereafter to retain possession thereof, dur-
ing the Life of this contract; and it is further agreed that
that the parties of the first part will pay all State, Countyy
and ihmicipal taxes which are now a lien on said laud includ-
ing both installments of taxes for theasr 1923, it being under-
stood and agreed that all taxes thereafter to become a lien
upon said property shall be paid by said party of the second
ppart. It is further understood and agreed that if the party of
the second part shall fail to payy any installment of aaid pur-
chase price within thirty days after the same may become due,
hereunder, then the parties of the First part may at their
option terminate this contract, reenter into possession of
said land, and be relieved -of all obligations in law and
equity to convey the some retaining 21 moneys theretofore
'aid hereunder as liquidated damages for the nonfulfillment
fiereof.by the party of the second part;
It is further understood and agreed that the parties
of the first part shall not be liable to make any repairs upon
the residence house or improvements now situated on said land,
but any repairs that may be made, shall be at the expense of
the party of the second part.
It is further understood and agreed that the owners
of.said lot Eight (8 are the holders of an insurance policy
insuring thein against loss by fire of the residence house upon
said lot 8, and it is agreed that, in case of loss or damage=
and the payment of any moneys pursuant to said insurance policy
or otherwise b reason of such to s or damage by fire to the
owners of said Lot Numbered Eight (8), or to the parties of
the first part, or either.-.of=them, the amount of money so paid-
shall
aidshall apply upon the next installment of putchase price there-
after to fall due upon this contract.
A 1lITNESS SOF said parties have entered into
this contract in duplicate tie day and rear first above written,
uursuant to resolution of the Board of Trustees of said City of.
Lodi this day duly passed and adopted.
(Signed) Hilliard E. Welch
(Signed) Ruby G. "Welch
CITY OF LODI
by (Syms) J. W. Shadtuck
-" Yayor
-(Sinned) - - J_ F. BLA�'LY
CiityClerk—