HomeMy WebLinkAboutESTHER D. SILVA - 1978-04-18AGREEMENT FOR SALE OF ZEAL PROPERTY
Y
This Agreement is made and entered into this / day of,,
19A by and between the City of Huntington Beach, a
municipal corporation hereinafter called "City" and Esther D. Silva
hereinafter callea "Silva".
W I T N E S S E T H:
City desires to purchase and Silva desires to sell that certain
real property shown delineated by red line in Exhibit "A" attached,
hereto and by this reference made a part hereof (hereinafter called
"said property") upon the terms and conditions as hereinafter set
forth. Full legal description in Policy of Title Insurance to con-
trol.
NOW THEREFORE, it is hereby agreed by and between City and
Silva as follows:
1. City agrees to purchase from Silva and Silva agrees to sell
and convey by grant deed at close of sale to City said property
in fee, for a total purchase price of One Hundred Eight Thousand
and No/100 Dollars ($108,000.00) in cash, to.',e paid in full
at time of closing.
2; Sale is subject to conditions, covenants, restrictions and ease-
ments of record as of the date of close of sale.
3; Silva agrees at cost of Silva to provide in favor of City, a
standard California Land Title .1ssociation Policy of Title
Insurance issued by Lawyers Title Insurance Corporation covering
said property shown in Exhibit "A" attached hereto.
r
,t
a Agreex4enr for Sale of Real P3xQpQTty_
�y
Page 2
4. Possession of said property shall be delivered to City at the
time of closing. The closing shall be .L City Hall, 2000 Main
i; Street, Huntington Beach, within
(45) days following
execution of this agreement by both parties or at such other
time or place as mutually agree --I upon.
S. Tuxes for the current year shall be prorated to date of closing.
L. Time is of the essence of this agreement.
7. If sale is not closed within forty-five (,5) days following
execution of this agreement by both parties, or at such other
time as mutually agreed upon, this contrast shall be automatically'
cancelled without necessity, of notice and shall be of no further
force or effect whatever.
APPROVED AS TO FORM.
C •'�
Esther D. SilvaCi 1lttor y
v
ayor
ATTESTt
ty Clerk
a
r:w. 6/tit AJ ).., !O f? !3Z• //S• ZIS
• O °' '
' TR CT =� ~� O EAST SIDE'VILLA
6. 5 h
�, zp 1A+aa°// l2 /3 /4gp•JQ.zo ;. W 1
/o Y q 0
16.•W' 53.92• 7 B 9 3p ' O • wp
5 �� - B: K.23C4 N%4"�AC
61 z d 7a ,"TJ,, . O 3,' i f3LK.T/.l5 AC. 2.00 AC.
12.066.44 "' c 58.92 66- 60r Q i
8o' s
I^65AA/DS DRIVE h "
_' 3B N CAL/FORN/A
Sl.ba` 56.0 B' w f 4 53.9!' bo ` b0 70•
ai 23 a 41 _
31 NO 8 7/' s . L O BLK. 20,3
68.63, 112 13 601 1, R.
300' 6. o o q
t 0 43 Isa 15 I� I3 !2 7 so.os' 6 5 so'
BL k 2403 - ` 1.06 , C.. 9 9 /v
'PAR.3 P . A
r. { ,
o IB 10 ` 42 36
<
1938 37
. c= TRACT
goow f32' 3�' so' cor row
i HLINTINGTO_l1/ e0 d STRE
049 roWA P,9,
`--
02 3Q as
a
w,
?4.8 EAST SIDE VILLA TRACT M..M. 4 -65 NOTE -ASS SSOR'S BLOCK 8
TRACT N0. 8971 Ili:M, 367 46,47° , PARCEL NUMBERS ,
TRACT NO. 9175 ' SHOWN IN CIRCLES
,� , • M. M. 385— 46, 47
PARCEL MAP P. eY1, 91 32
� V 4 .,
NEST FOR CITY COUNCIL. ACTION
Submitted by Nor Vorthy, Director Departmenteereaton,Parks i, Human Services
Date Prepared April 10 108 Backup Material Attached Yes No
Subject 'FOLD TOWN" PARK/PROPERTY PARCEL ACQUISITION
City Adminis rnments
3'z4iz;t.aT �< TTV rrst7NC1L
. . �:asssayaxxe.xaaa.au.aan•.. �"_`O".
Approve ,as recommended.
Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions:
r � '
Statement of Issue:
Negotiations, appraisals, purchases, and agreements to purchsse have been on-
going for the past two (2) years in the City's effort to acquire the five
plus (5+) acre "Old Town park site between Delaware and Huntington, 350 feet
south of Yorktown. The subject parcel, owned by Esther. D. Silva, comp-ies
approximately 58,810 square feet (1.35 acres) and car purchased for $198,000.
Recommended Action:
Approve the attached agreement to purchase the 1.35 acre Silva property parcel
within "Old Town" park site for $108,000.
Analysis:
The Silva property encor;apasses approximately 1.35 acres of land which at the
proposed sale price equals about $80,000 per acre. The City has previously ,.
paid betwoon $90,000 to $160,000 per acre for property in this same area.,
The Silva property is partially inundated, however, and in consideration has
been adjusted downward in price to compensate for costs to cure the land to
a buildable condition. Inasmuch as we intend to retain the inundated area
as a part of the park plan, the low price per acre appears to be a very
attractive offer.
Alternative:
Proceed with eminent domain and allow the court to determine the fair
market value of the parcel.
Funding Source:
This acquisition was budgeted for 1977-78 in the Park Acquisition and
Development Ptartd.
PIO 3/78