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HomeMy WebLinkAboutOrdinance 1615 N.C.S. 05/06/1985F ®tAC~ 5 198 ,V~ ORDINANCE NO. 1615 N.C.S. Introduced by Seconded by Vice Mayor Bond Lynn Woolsey AN ORDINANCE AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED AT 969 PETALUMA BOULEVARD NORTH., PETALUMA, CALIFORNIA BE IT ORDAINED by the Council of the City of Petaluma as follows : Section 1. The real property located at 969 Petaluma Boulevard North, Petaluma, California, is hereby authorized to be purchased under the terms and conditions set forth in the agreement entitled "Agreement to Sell Real Property" , attached hereto as Exhibit "A" and incorporated herein by reference. Section 2. The City Clerk be, and she is hereby directed to publish this ordinance for the period and in the manner as required by the City Charter . INTRODUCED and ORDERED published this 15th day of April , 1985. ADOPTED this bth day of _ _ Maw 1985 by the following vote AYES: Balshaw, Cavanagh, Davis, Woolsey, Tencer, Mayor Mattei NOES : None f~ ABSENT: Vice Mayor Bond ayor ORD2 Ord. No. 1615 N.C.S. AGREEMENT TO SELL REAL PROPERTY THIS AGREE144ENT made this 15th day of April, 1985, by and between ROBERT POPE, BEL POPE, JOHN M. GALEAZZI., EILEEN GALEAZZI, and BLANCHE HEING (hereinafter referred to as "Sellers") and THE CITY OF PETALUMA, a Municipal. Corporation, (hereinafter referred to as "Buyer" . 1. AGREEMENT TO SELL - The parties hereto, subject to the terms and conditions of. this Agreement, agree that at the closing on the Closing Date, the Sellers shall sell and. convey to Buyer and. Buyer shall purchase from Sellers the real pr. operty in the City of. Petaluma, County of Sonoma, State of California, commonly known and designated as the former Sorensen Funeral Home, 969 Petaluma Blvd. North, Petaluma, California (Assessor's Parcel No. 006-450-183). 2. PURCHASE PRICE - As consideration for said real property, Buyer agrees to pay to Sellers the sum of Nine Hundred Thousand Dollars . 3. FAYMENT OF THE PURCHASE PRICE - The purchase price shall be paid as follows A. Within five working days after execution of this Agreement, Buyer shall deposit the sum of Five Thousand Dollars, by certified check, in escrow with the holder designated by the parties as provided in paragraph 4 hereof . B . On or before the close of. escrow, Buyer shall deposit, by certified check, the sum of Eight Hundred Ninety-Five Thousand Dollars with the escrow holder.. Exhibit A to Ord.. 1615 NCS Page 1 of 5 4. ESCROW - Within two business days after execution of this Agreement, an escrow shall be opened. to consummate the sale contemplated by this Agreement with a title company designated by the parties hereto ("escrow holder" herein) . 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. Within fifteen 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 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 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) terminate 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 not earlier than the effective date of the ordinance adopted by the City Council authorizing this Agreement. The close of escrow may be extended. by agreement of the parties. 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 be evidenced by a standard form CLTA title insurance policy in the full amount of the purchase price .issued by escrow Exhibit A to Ord. 1615 NCS Page 2 of 5 2 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 real property shall be delivered to Buyer on recordation of the deed. to Buyer. 8. PRORATION - There shall be prorated between Sellers and Buyer as of 12:00 midnight 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 in the office of the particular taxing authority. 9. BROKER'S COMMISSIONS - 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 normal escrow costs and expenses, including but not limited to document-drafting, recording, and transfer taxes shall be paid. by Sellers and/or Buyer in accordance with the usual custom in Sonoma County, California. 11. DESTRUCTION OF PROPF..RTY - All risks of loss to the said property and the improvements thereon shall be borne by Sellers until title has been conveyed to Buyer. 12. WARRANTIES - Sellers represent and warrant that they have no notice of violations relating to the said property from any City, County or Exhibit A to Ord. 1615 NCS Page 3 of 5 3 State Agency. Sellers make no other 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 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. 14. TIME - Time is of the essence of this Agreement. 15. BINDING ON SUCCESSORS - This agreement is binding upon the heirs, personal representatives, executors, administrators, successors and assigns of Sellers and Buyer. 16. APPROVED BY CITY COUNCIL - Sellers acknowledge and understand that pursuant to Section 46 of the Petaluma City Charter, in order for this agreement to be effective, 'the City Council must first adopt an ordinance approving the purchase of the subject property purchase to the terms and conditions of this Agreement, and. upon the issuance of a Use Permit by the City Planning Commission. 17. ENTIRE AGREEMENT - This Agreement constitutes the entire agreement between the parties as to the matters covered herein. Exhibit A to Ord. 1615 NCS Page 4 of 5 18. CAPTIONS - The captions of paragraphs hereof are for convenience only and shall not control or affect the meaning or construction of the any of the provisions of this Agreement. IN WITNESS WHEREOF, the Sellers and Buyer have executed this Agreement at Petaluma, California, as of the day and year first above written . ATTEST : City Clerk CITY OF P MA, a municipal corpor do ~~ EY /( Mayor or City Manager OWNERS: ROBERT POPE BE.L POPE JOHN M. GALEAZZI EILEEN GALEAZZI BLANCHE HEING Exhibit A to Ord. 1615 NCS Page 5of 5 Approved: Fin . Dir . Auditor