The URL can be used to link to this page

Home My WebLink AboutPCDC Resolution 94-05A 04/04/1994. .1 RESOI,U'I'ION # g4-5a .. 2 `3 PETALUIVIA COMMUNITYDEVELOPMENT COMMISSION ~4 5 AUTHORIZING EXECUTION OF PURCHASE AND .SALE AGREEMENT FOR 6 ACQUISITION OF REAL.PROPERTY 7 8 9 WHEREAS, the Petaluma Community Development Commission has adopted as one of its 10 priority projects the implementation of'the Petaluma River Payran Reach Flood Control Project for 11 the protection of the residential areas in that°vicinity from flood damage; and 12 13 WHEREAS, the acquisition of.the property at 5 Vallejo Street will help address this priority 14 project; and 15 16 WHEREAS, the Commission directed its staff to pursue negotiations for acquisition of said 17 property; 1S 1.9 NOW, THEREFORE, .~BE IT RESOLVED„ that the Chairman or Executive Director of the 20 Petaluma Community Development Commission is .hereby authorized to enter into and execute that 21. certain Agreement entitled ".Purchase aril Sale. Agreement for Property" (Exhibit A) between. the 22 owners of the property located at Petaluma, California; designated as Assessor's. Parcel #7-019-32 23 wherein the Petaluma Community Development Commission wil'1 acquire said property in 24 accordance with the terms set forth'in the. attached Exhibit A; and' 25 26 BE IT FURTHER RESOLVED, that the Petaluma Community Development Commission 27 finds that this action is exempt under one or more, of the following sections. ofthe California 28 Environmental Quality .Act: 1.5061 (b)(3), 15304, .1531.2, 15.325 (d), 15326 and the City of Petaluma 29 Environmental Review Guidelines: 4 Adopted this 4th day of April , 1;99 by the following vote: Commissioner Barlas Hamilton Nelson Vice Chair Read Shea Sobel Chair Hlligoss ATTEST: Ave X resgned'4/4/94 X X X P.E. Berriard, Recording Secretary No 94-5a Absent X ,' 1V1. Patricia Hitligoss, Chair ~~ ~~ ~~ - PURCHASE AND SALE AGREEMENT FOR REAL PROPERTY THIS AGREEMENT is made this day of 1994, by and between JAMES IVIASELLI and PAMELA ~MASELLI hereinafter referred to as "Sellers" and the Petaluma Community Development Commission, hereinafter referred to as "Buyer". WHEREAS, Sellers own a parcel of improved property located at 5 Vallejo Street, Petaluma, California (Assessor's Parcel No. 7-019-32); and WHEREAS, the Petaluma Community Development Commission desires to purchase said property at this time. . NOW, THEREFORE, IT IS AGREED AS FOLLOWS: 1. AGREEMENT TO SELL -The parties hereto, subject to the terms and conditions of this Agreement, agree that at the closing of escrow, Sellers shall sell and convey to Buyer and Buyer shall purchase from Sellers the real property in the City of Petaluma, County of Sonoma, State of California, commonly known and designated as 5 Vallejo Street, Petaluma, California (APN 7-019-32). 2. PURCHASE PRICE - As .consideration for said real property, Buyer agrees to pay to Sellers the sum of One Hundred Eighty-Six Thousand Dollars ($186,000.00). 3. PAYMENT OF THE PURCHASE PRICE -The purchase price shall be paid as follows: A. On or before the close of escrow, Buyer shall deposit the sum of One Hundred Eighty-Six Thousand Dollars ($186,000.00) with the escrow holder. B. On or before the close of escrow, Buyer shall deposit in escrow the sum of Thirty- Three Thousand Nine Hundred Fifty Dollars ($33,950..00) which represents the replacement housing differential as calculated by Buyer's relocation agent and as negotiated between the Buyer and Sellers, to be released to Sellers upon close of escrow. C. On or before close of escrow, Buyer shall deposit in escrow the sum of One Thousand Nine Hundred Dollars ($1,900.00) to be released to Sellers upon close of escrow to cover moving expenses. D. On or before close of escrow, Buyer shall deposit in escrow up to the sum of One Thousand Two Hundred Forty-Eight Dollars ($1,248.00) for payment of closing costs. 1 4. ESCROW -Within five (5) business days after execution. of this Agreement, the escrow shall be opened to consummate the sale contemplated by this Agreement with a title company designated by Buyer and herein referred to as "escrow holder". 5. APPROVAL OF TITLE -Within ten (10) days after execution.of this Agreement, escrow holder will deliver to Buyer a preliminary title report on the subject property. Within five (5) .days after Buyer's receipt of the preliminary title report, Buyer .shall- .give Sellers written notice specifying any matters disapproved. If Buyer fails to give-'notice of disapproval within five (5) days after receipt of the preliminary title report of any item or exception shown on the preliminary title report, its silence shall be ari approval of such item or exception. Sellers shall make all reasonable efforts to remove any item or exception disapproved by Buyer. If any such item or exception .cannot be removed before close of escrow, Buyer may, at its election, either (i) waive such item or exception and purchase the property subject thereto, or (ii) ternunate this Agreement, whereupon all amounts deposited in escrow by Buyer shall be~returned to it, and all rights and obligations of the parties under this Agreement shall cease. 6. CLOSE OF ESCROW -The purchase, and sale contemplated by this Agreement shall be consummated and the escrow closed on or before June 30, 1994. Sellers may, at their sole discretion, extend the closing date up to one month, i.e:, through July 31, 1994. At the closing, Sellers shall convey title to .said real .property to Buyer, and~Buyer shall deliver to Sellers the purchase price. Conveyance of title to Buyer shall 6e evidenced by a standard form title insurance, policy for land only in the amount Thirty Thousand Dollars ($30,000.00) issued by escrow holder, subject only to covenants, conditions, restrictions, rights of way, and easements .not disapproved by Buyer pursuant to paragraph 5 of this Agreement. . 7. POSSESSION -Possession of the said property shall be delivered to Buyer on recordation of the deed to Buyer, or upon mutual consent and execution of a written agreement between Sellers and Buyer. 8. ACCESS TO PROPERTY -Sellers agree to permit Buyer or Buyer's agent reasonable access to the property and structure for purposes of planning and preparation of specifications for eventual relocation of the home. 9. PRORATION -There shall be prorated between Sellers and Buyer as of 12:00 midnight on the date of the close of escrow: 2 A. Real property taxes levied or assessed against said real property for the fiscal year in which the proration date occurs, based on the most recent official information obtainable in the office of the particular taxing authority. 10. BROKER'S COIVIlVIISSION -There is to be no real estate broker's commission paid as a part of the sale contemplated by this Agreement. 11. EXPENSES OF ESCROW -Closing and escrow costs shall be paid as follows: A. All closing costs, including title insurance, for 5 Vallejo transaction shall be paid by Buyer except taxes, liens, bonds and insurance. B. All non-recurring closing costs for sellers replacement housing unit shall be paid by Buyer up to a maximum of One Thousand Two Hundred Forty-Eight Dollars ($1,248.00). 12. DESTRUCTION OF PROPERTY -All risks of loss to the said property and the improvements thereon shall be borne by Sellers until title has been conveyed to Buyer or property vacated, whichever is later by evidence of valid homeowner's insurance policy through the date of vacation. 13. CONDITION -Property shall be delivered to Buyer cleared of all personal property, vehicles, debris, etc. in "broom clean" condition. 14. WARRANTIES -Sellers represent and warrant that they have no notice of violations relating to the said property from any city, county or state agency. Sellers make no warranty as to the physical condition of the property. 15. ATTORNEY'S FEES - In the event either of the parties hereto institutes legal action against the other to interpret or enforce this Agreement, or to obtain damages for any breach thereof, the prevailing party shall be entitled to reasonable attorney's fees in addition to all other recoverable costs and damages. 16. TIl~IE -Time is of the essence of this Agreement. 17. BINDING ON SUCCESSORS -This Agreement is binding upon the heirs, personal representatives, executors, administrators, successors and assigns of Sellers and Buyer. 18. SALE IS "AS IS" -The parties agree that the sale of the subject property is "as is" as to the structure of the building. The following are considered personal property and may be 3 .' _ . .. removed by Sellers prior to close of escrow: (1) One hundred fifty-five (I55) feet of 6' chain link fencing with vinyl slats .and two gates, (2} child's backyard play structure, and (~) two bookcases in playroom. 1 19. ENTIRE AGREEMENT -This Agreement constitutes the entire agreement between the parties as to the matters covered herein.. 20. CAPTIONS -The captions of paragraphs hereof are for convenience only and shall riot control or affect the meaning or construction of any of the provisions of this Agreement. IN WITNESS WHEREOF, the Sellers and the Buyer have executed this. Agreement of Petaluma, Sonoma County, California, as of the day and year first above written. PETALUMA COMMUNITY DEVELOPMENT COMMISSION SELLERS By Executive Director ATTEST: Recording Secretary APPROVED AS TO FORM: General Counsel APPROVED: Finance Director c:\winword\agrmts. doc 3/22/94 (fink) James Maselli Pamela Maselli 4