HomeMy WebLinkAboutRDA Res 72-2 1972-03-27
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RESOLUTION NUMBER 72-2
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH, CALIFORNIA, AUTHORIZING PUR-
CHASE OF CERTAIN REAL PROPERTY FROM THE CITY OF
SEAL BEACH.
WHEREAS, The city of Seal Beach, california, a municipal corporation
(the "City") is the owner of certain real property (the "Property")
more particularly described in Exhibit A, attached hereto and made
a part hereof; and
WHEREAS, The Redevelopment Agency of the city of Seal Beach, a
public body corporate and politic, (the "Agency") has determined
that the acquisition of such property will be of benefit to its
redevelopment activities and to the Riverfront Redevelopment Project;
NOW, THEREFORE, be it resolved by the Redevelopment Agency of the
City of Seal Beach that:
Section I. This Agency purchase and accept conveyance of the said
property from the city and pay to the city in consideration of the
conveyance thereof the sum of $100,000, plus simple interest of
six per cent (6%) per annum on the declining balance; said Property
to be held by the Agency pursuant to the terms and conditions as
set forth by City and as set forth in Exhibit B, attached hereto
and made a part hereof.
Section 2. The Executive Director of this Agency is hereby
authorized to execute the certificate of Acceptance required by
Government Code Section 27281, and to do all other acts on behalf
of this Agency necessary or desirable to consummate the above
described transfer and conveyance of the Property, and to pay the
aforesaid sum of $100,000, plus simple interest of six per cent
(6%) per annum on the declining balance to City in accordance with
terms set forth in Exhibit B attached hereto and made a part
hereof.
PASSED, APPROVED, AND ADOPTED by the Redevelopment Agency of the
City of Seal Beach at a meeting thereof held on the 27th day of
March, 1972, by the following vote:
AYES: Blackman, Holden, Sales
NOES: Smith
ABSENT: Barnes
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~L-i~ 1:4 Chairman
Executive Director-Secretary--
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All that certain land situated i.n the state of California, County
of Orange, City of Seal B'.l<'r:h, G<:!scribed as follows: ...
A strip of land 100 feet in \.,idth. beinG a pot:tion of Lot "C-2" of the Partition
of Rancho },os Alamitos accordinp, to plat of R,mcho LOB Alamitos filed in Case
No. 13527 of t.he Superior Ccurt ot the County of Los Angeles, State of
California, said strip of land bcing 50 feet 011 each side of the follO\dng
described center line:
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Beginning at Railway Survey Station 1320+08 of the surveyed centerline of the
Pacific Electric Railway as shm.ffi on plat "n" attached to and made a part of
the deed from Isaias I.i. Hellman to the PaciUc Electric Ilailway Company,
recorded on November 10, 1903 in Bock 92, page 349 of Deeds, in the office of
the County Recorder of said County of Orange, said station being in the boundary
line between Lot "B_2" and said Lot "C-2" according to said plat in Case No,
13527 aforesaid, and South 31. 17' West, 1224.58 feet, a little more or less,
from the most Easterly corner of said Lot "B-2"; thence from said point of
beginning, South 42. 24' East, 953.6 feet to Railway Survey Station 1329+61.6
of the surveyed center line of the Pacific Electric Railway as sho\-m on abo,!,e
mentioned plat "B", said last mentioned station being in Course No. 42 of the
survey of Rancho Los Alamitos made under instructions of the Surveyor General
of the United States by Deputy Surveyor, G. II. Thompson, November 28, 1873
and recorded in Record of Patents of Los Angeles County, California, in Book
1, page 453, said Course No, 42 being a part of the Southern boundary line
of said Lot "C-2", and said Rai1\Jay Survey Station 1329+61.6 being South'57.
0' West, 301,75 feet, a little more or less, from Station No, 42 of above
mentioned survey of Rancho Los Alamitos.
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Excepting therefrom that portion thereof lying Southeasterly of the South-
westerly prolongation of the Southeasterly line of Bay Boulevard, as recorded
November 23, 1924 in Book 554, page 318 of Deeds, records of said County of
Orange.
Also excepting therefrom all minerals, gas, oil, petroleum, naphtha and other
hydrocarbon cub stances in and under the ahove described property, tor-ether
with all necessary and convenient ri~hts to explore for, develop, produce,
extract, and take the same, including the exclusive right to directionally
drill into and through sairl lands from other lands and into the sub-surface
of other lands, subject t.o the express lir.1itation that any and all operations
for the exploration, development, production, extracting and taking of any
of said suhstances shall be carried on at levels belo>> the depth of 500 feet
from the surface of hercinabove described real property, by means of mines,
wells, derricks and/or other equipment from surface locations on adjoining
or nei8?boring land lying outside of the hereinabove described property,
and suhJect further to the express limitation that the foregoing reservation
shall in no way be interpreted to include any right of entry in and upon
the surface of the above dcscribed real property, as excepted in deeds from
Sidney M. Ehrman and others, recorded April 5, 1971 in Book 9594, pages 512,
516 and 520 of Official Records,
Execpting therefrom: An easement for highway purposes over a
strip of land sixty feet wide over a portion of said land as
conveyed to city of Seal Beach by deed recorded December 19,
1946, in Book 1506, Page 238 of Official Records, subject to
certain conditions, rights and privileges as therein set forth.
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EXHIBIT .A
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~URCIlASS - SALE. ~~REEMENT
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THIS PURCHASE-SALE AGREEI4ENT is made and entered into this____day of
, 1972, by and between
THE CITY OF SEAL BEACH,
hereinafter referred to
as "CITY"
and
THE REDEVELOPMENT AGENCY
OF THE CITY OF SEAL BEACH,
hereinafter referred to as
"AGENCY,"
RECITALS
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1, WHEREAS, City has expressed its willingness to sell, transfer title
and convey all interest in certain real property to Agency; and
2. WIlEREAS, Agency has exoressed its willingness to purchase, take
title, and receive all interest in certain real prooerty from City; and
3. WHEREAS, both City and Agency agree the purchase-sale of certain
real property located within the legal boundaries of Aqency will facilitate
the administration of said real oroperty; and
4. WIlEREAS, in accordance wi th Government Code Secti on 33220, Ci ty and
Agency hereby agree to purchase-sell certain real prooerty as set forth herein.
THU)ARTIES. TO THIS PURCHASE-SALE AGREEMENT IlEREBY P~9!'lJSE_ AND AGREE AS FOLLOWS:
A. City agrees to sell, transfer title and convey certain real property
legally described in Exhibit A attached hereto,
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B. Agency agrees to ourchase, take title and receive certain real property
legally described in Exhibit A attached hereto.
C. Agency agrees to pay to the City in consideration of the conveyance
thereof the sum of $100,000 plus simole interest of six per cent (6%) per
annum on the declining balance.
D. City agrees, to forego immediate payment of $100,000 from Aqency; Agency
and City agree repayment of $100,000 plus simple interest of six per cent (6%)
per annum on the declining balance shall be repaid in accordance with the fol-
lowing schedule:
"To detennine annual amount required to amortize $100,000
at'6% over five year period commencing January 1, 1973
and ending January 1, 1977,"
Annual Annua 1 Annual
Pri nci pa 1 Interest Amount
Balance R~oal~b!.~ Repayabl~ R.E1..<!!!.t~~Jan_,- 1st)
1/1/73 100,000 20,000 6,000 26,000
111/74 80,000 20,000 4,800 24,800
1/1/75 60,000 20,000 3,600 23,600
1/1/76 40,000 20.000 2,400 22,400
111177 20,000 20,000 1,200 21,200
TOTALS -g- 100.000 18,000 118,000
EXHIBIT B
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E, Agency agrees that said certain real property purchased by Agency from
City shalt be utilized for public use,
F. Effective date of repaym~nt shall begin January I. 1973.
IN WITNESS WHEREOF, the parties hereto have affixed their hands and seals
with all the formalities required by law.
CITY OF SEAL BEACH
BY_itii- ~
Mayor
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APPROVED AS TO FORM:
Cit}/Attorney
THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH
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By ~p.~r ~.~
Chairman
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Executive Director-Secretary
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