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Home My WebLink AboutPCDC Resolution 85-6 08/08/1985 ~ RESOLUTION 85-6 AUTHORIZING PURCHASE AGREEMENT FOR GERVA50NI PROPERTY PURCHASE 120 PETALUMA BLVD. N. BE IT RESOLVED tha the Chairman or Executive Director of the Petaluma Community Development Commission is hereby authorized to enter into and execute tat certain Agreement entitled "Agreement to Sell .Real Property" between the owners of the property located at 120 Petaluma Blvd. North, Petalu,a California, designated as Assessor's Parcel 6-282-6, wherein the Petaluma Community Development Commission will acquire said property in accordance with the terms set forth in the attached Exhibit A. Introduced and adopted this 8th day of August 1985. Commissioner A~ No Absent Bond ( x ) ( ) ( ) Cavanagh ( ) ( ) ( x ) Davis ( x ) ( ) ( ) Woolsey ( x ) ( ) ( ) Tencer ( x ) ( ) ( ) Vice Chair Balshaw ( x ) ( ) ( ) Chairman Mattei ( x ) ( ) ( ) Chairman Fred V . Mattei ATTEST: ' Re or ing ecre ary atricia E. Bernard PCDC RESO. 85-6 - o _ . r i` T AGREEMENT T.O. SELL ,RE`AL :PROPERTY M THIS AGREEMENT :made this day of T985, by and between FRANK G'ERVAS,ONI, ELMA MAE' GERVASONI, CHARLES D. GERVASONI and ELS~IE G'ERVASONI, hereinafter` referred to as "'Sellers", and the Petaluma Community 'D:evelopmen-t Comm'issi'on,, -hereinafter referred to as "Buyer" . WHEREAS, Seller owns a parcel of improved property located at 120 Petaluma Boulevard North,, Petaluma;, California, (Assessor's Parcel No:. 6-282-6,) ; and,. WHEREAS, the Petaluma. Community Development Commission desires to .purchase aid property at'ths time; NOW, THEREFORE, IT' `IS AGREED AS FOI,LO.W~S: ) 1',. AGREEMENT TO SELL, - The parties hereto, subject. to the terms , and conditions of this, Agreennent, agree. that at the closing of escrow, the Seller shall seiI an'.d convey to Buyer and, :Buyer shall purchase from Sellers the real property in the City of Petaluma,,, County of ,Sonoma, State , of C"alifornia, commonly known and designated as L20 Petaluma Boulevard North, Petaluma, California (Assessor's Parcel., 'No. :6-28,2-6) . 2. PURCHASE PRICE". - A's consideration for said. real' p"roperty, Buyer' agrees to ~p;ay to Sellers' ~ the sum of One Hundred Forty Thousand. and no%:100'' Dollars. 3.. PAYMENT OF THE PURCHASE PRIDE' - The purchase' price shall 6e pa"id as follows : . ' A. On or 'before tFie close, of escrow Buyer shall deposit the sum of One Hundred Forty Thousand. anal no/100 Dollars with the escrow .holder. r~ ~ a 4. ESCR.QW - Within two .business days after execution of this Agreement., th"e escrow shall be opened. to consummate the sale contemplated by this Agreement with a title company designated by the parties hereto and herein referred to as "escrow holder"'. 5. APPROVAL OF TITLE Within. fifteen.. (15) days after execution. of this Agreement, .Sellers shall cause escrow ..holder to deliver to Buyer a preliminary title report on the subject property.. W"ithin fifteen days after Buyer's receipt of the ",preliminary title report.,. Buyer shall give Sellers written notice. -specifying any .:matt"ers dsapprove_ d,. Tf Buyer fails to give notice. of disapproval within fifteen days after .receipt of the.. preliminary title report of any item or exception shown on. the preliminary title report:, its silence shall be an appro~-al of such item. or. exception . Sellers shall make all reasonable efforts to remove any item or exception disapproved ~ -by Buyer. I'f 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 purcY`ase the property subject thereto, or' (ii) terminate this Agreement, whereupon all amounts deposited, in ,escrow by Buyer .shall be returned to't, and all rights' and obligations of the parties under this Agreement `shall cease.:. ,6~. G•LOS-E OF ESCROW - The purchase sand sale contemplated . by this. agreement ":.shall be. consummated and the escrow closed on or before 5eptemb.er 1, T98:5.. At th'e 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 be evidenced. by a standard form title insurance :policy in the full amount of the purchase price 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 2 • Agreement. Elsie Gervasoni„ shall, deliver to $'uyer at the closing a Quitclaim. Deed .releasing any and. a11~ community property interests she .may have. in said property. 7.. P:OSSESSIO:N - Possession of the said property shall be delivered to Buyer on recordation of the deed to Buyer, or sooner, upon' wr."itten agreement by .Sellers. • 8. PRORATION - There shall. be prorated between Sellers and Buyer as of 12:00 midni'g-ht on the date of the close; of escrow: 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 yin. the office of the: particular taxing authority. 9, BROKER'S COMM.ISS~ION - There is to be no real estate broker's commission paid as a part of the sale contemplated by. this Agreement, 10. EXPENSES OF ESCROW - Closing and, escrow costs shall be paid' as follows: A. Cost of title: .insurance shall be paid by Buyer. B. All other- norma'1 escrow costs and expenses, including, but riot limited to, document=drafting, recording, and transfer taxes :.shall' be ,p-:aid: by Sellers and/or Buyer in accordance with the usual. custom of Sonoma County, California. 11. D'ESTR`UCTION OF PR'O.PERTY. - .All risks of ~ lo;ss to the said property and the improvements thereon shall he borne by Sellers: until title has been conveyed to Buyer. It is further agreed, . in the event of demolition of the building on the subject premises,. the Buyer at its expense, will preserve and provide a support wall.: so that the integrity and 3 • • , continued use of .the building on; 'tle ~a,djacent premises to the south is maintained. Said adjacent parcel is Assessors Pa-reel. No. 6-282.-20. 12,. WARRANTIES Sellers represent and warrant that they have no notice of violations relating 'to the aaid property ..from any: City, County or State Agency. Sellers make no warranty as to the physical. condition of the property. 13. ATTORNEY'S, FEES., - In: the event either of the parties hereto institutes legal action 'against the other to -:interpr-et 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. - ~ 14. TIME, - Time :is of the essence of this Agreement. 15. BINDING ON. SUCGESSQRS' - This' agreement is binding upon the heirs; personal representatives, executors-, administrators, successors and assigns of Sellers ;and `B`,uyer. lb . SALE IS "'AS "IS" The parties agree. that. the sale. of the subject property s~ "as is!' as to the structure of the building . 17. ASSESSMENT - Parties agr-ee That the assessment on said property is to be borne by the Buyer. 1$:~ ENTIRE AGI°REEMEN2 - This Agreement constitutes the. entire . agreement. between the parties as to the matters covered .herein. 19. C,APTIQ;NS The captions of 'para;graphs _ hereof are for convenience only and .shall not control or affect- the rneaning~ or construction of any of° the pro.visons of this Agreement . . 20., This' Agreement and the sale of said property is conditioned upon a report from the Planning Department of the City of Petaluma indicating. ' that said "sale is in compliance with Government Code Section 65402. 4 ' t F - ~ : o IN WTTNESS WHEREOF, the. Sellers and the Buyer have executed this Agreement at Petal'uma,., Sonoma. County„ California, as of the d'ay and year first above written.. PETALUMA COMMUNITY DEVELOPMENT COMMISSION ATTEST: By Chairman or Executive Director Secretary OWNERS: Approved: Treasurer FRANK GERVASONI Approved:. City Attorney ELMA MAY 'G;ERVASONI GHARI;ES D. GERVA'SONI ELS~IE .G.ERV.ASONI . gervason agreement AGRM:TS 5