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r'� REQUEST Et RE�EVLLUPMEN iNENCY-
C�'IO�J
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Submitted to: Chairman and Members of the Redevelopment Agency
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Submitted by: Paul Cook, City Administrator, Chief Executive Offic /Xr�[•/ ,�,� •`'�,
Douglas La Halle, DeratCity Admin. , sir. Comm.Bevel '}• i`.
?reparari by:Cly
' r ' Subject. AUTHORIZATION FOR' WE ACQUISITION AND APPROVAL ON CONTRACT
I; �•,{f+r ,� ;: OF SALE FOR A PARCEL (APN 24-147-33) 71EI32nG
,
Consistent Wkh Council Policy? tYes
� 1 a1 I 1 Now Policy or Exception
>{ t 1/'• f tl Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments:
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The attached Agreement of Sale is in accord with Agency action to
purchase properties on a willing seller basis in the Main --Pier °r
All, project area. The attached agreement of sale represents the
t .3r6r! r ./,•r , purchase of a vacant piece of property b the Agency owned b John rf" It
1. Y g Y Y
A. Teharg located at Sth Street between Oliv^ and Walnut Avenues.
, tF'i�•�iGfr �t�,'rt�r,' 3 ,y j ; Its ��.
} tt,•' r1t.^,1A1 'ygilr ! �, i`1hL�C� �fil` :s. '"� •i�
ry :�., rt7t j ,Y ,,,���r r► .i { � h '�d� ;i�r 1,i�,
_ ���i f { • r� ? y�r �...`.�'.rt}}� ry`�t'j �}" ' I ' �'yK{�>�*► '+�4� [i .
Authorize the acquisiti qn of the John A. Teb r
!�„ r r, e g Property (APN,,�� �!
a' ' i 24--147-33), approve the attached Agreement of Sale which includes
F. y�; tiJ , 4 i%'?�' ' ,4'',c;'r the fo' lowing points:
E s�, ZLir�t'+jr �' sJ • '4tr •r! 1�,t �Y,"A,. ,. ' :., +1 �. f'��
The A 2inc will '
5t' Y .purchase APN 24-19 7-33 legally described as
lot' 22 Block 204 of the Huntington Beach. Tract recorded in
Book 3 page 36 of Miscellaneous Maps of Orange Ccunt at
P 9 p g �..
thel negotiated price of $125, 000 . y
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,44 ,�; ;, �xf 'r r) 2. The Agency will pay all title insurance and escrow feet;.
3. The Agency will provide a letter to the prop('rty owner that ,
the property is being acquirse une.z_r threat of colidemnation.
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7t Nt,t 'thWit,• J;{ appraisals and ;►egotiations for the purchase��
The Agency riuthorixea app
�t -�• '` of properties on a willing seller basis within tho Main'aPior project �,� „�,•, ; j
area. This parcel has bean on the market for several months. The
r,}r ♦�'tr<{�1 1�>, ZF `�.:':' al studywas completed on February x9, 1988, reflect. i::g fair `,t{rtir, �L��{'r.;r , �•.i:;
apprais -
. S �' market '.aluc c,£ $1�1,50C. Welare aepricenetn lZ5,�000en.'y$Sa500omore
.' the a..quis.�cion of this park settlement The additional cost (2.8)
than'tho appraisal value.
Hit
will allow the timely acquisition of this vacant piece of property�,�, 3�ty� y}fir
adjacent to the recently acquired Terry' F3uick Body Sr.op property. t w.'
This acquisition will assist in implementing our Main Street second
J r ,r
+` block. PrOject.
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r• { �' L r' Account No. 812-601
ITJ tit .• I �.;7} r '. ')':.. YfLt ACT_ O: �• f ='y-yt♦�, l i
4rU + + c uisition or modify the offer.
Do not approve tho a q
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-K i1, 1i4. Tt ,1 J
AGREEMENT FOR•, SALE OF REAL P1;CPERTY
I� JOHN A TEHER^ u AND THE 1J �,'+t
REDEVELOPMENT AGENCY OF IHF
CITY OF HUNTI NG'lON BEACH
+: ! K1` I� i tl .! ' r! {fit•: r `I ,r Zvi i 1
r V Yf# ti ,u �i. dtly of April 1985 'uy
3' �'r. {. This A reement made Lh_s �• �
g �
and between THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON
BEACH, California, a municipal corporation agency ("BUYER")? and
,4r
.101iN A.-ZEBERG, ( .ELLER ), for the purchase by $UY.ER of certain
r Iv real property.
e1a4
Whereas, SELLER ie the owner, in fee, of certain Leal property
���'���;�t ?`' Jtlss it ,,; � t .,•�,,.r
located in the city of h6ntingten Beach, California moles fully
,G fr41;''' described as:
: t l:.
Lot 12, Block 204 of Huntington Beach, as per map recorded in
Bcok' 3, Page 36 Miscellaneous Mapa, in the 00fi6e of the '
County Recorder of said county, except the northwesterly ten
feet thereof, and commonly known as '``-' _ -_ --`-.
2 Sr Piw-
i+R
t' t a W 'rty' BUYER desires to, purchase said property for cash and SELLER
�7� desires to sell property to the BUYER: -
11 Pr (• '
NUti THEREFORE, the parties agree as follows:
1. 'PURCHASE PRICE. The purchase price for the real property
s •`'' '��� is One Hundred Twen�y Five Thousand and no/100 dollars ($125,000) 1
'j!i t 2. ESCROW. BUYEI and SELLER agree to execute the escrow
+
instructions and do all things necessary to complete said escrow
in conformance therewith as attached hereto and incorporated #•,
herein by/,this reference as exhibit "A". `
f ,
3. CONDrITIONS OF CLOSING. Tr•e close of escrow is
r
` conditioned upon:' !
a, Conveyance to the BUYER of goad and marketable tittle f:
f' r? subjt;ct to the approva'. of DUYER'S Attorney. frr •
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•l,fJ.s �}... +1' .. `•.� talt '1>.n� 17 i. ri y r s._ r:' t °'_^.-•,. f r .- a 1�y7
.4.{�i ., u1V t.pt` �'Jt �, 1'._� �••1. a..+�-i...., i,i::lL\tL•,tl.
':!*�a►r iQ �``ft .I, :-' ir� RR:.C�.��tis;•1.►�i:.ias�,.��1.i1:':i..�.w►iL:1Ma,..i.,:�:+sl"�fi31;e:`.,i}L.-»�.ii wF'•I.�
r
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all
y�' J
/♦-t '� �Yl� ;L'"; �3y(' (ii'r r r y 1.•.5 wit
+ b. Deliver of California Land TiLle Association „(CI,TA) ',° �� - 'y
title insurance policy in the amount of the full urchase price * '° "- 4` 4 i- a
!j {.,
'=,,,, t °,,j'� , subject only to such liens, encul(brances, cicttds or conditions as
(`{RK+[� 11i tS�rAt
III t i `jJ
�iTk-
may be approved in writing by the BUYEF. rS Attorney. , �
c. Delivery of possession of said property to 3UYER or, Ji
l
its nominee, immediately on close of escrow, free and clear of -11 D �' • d� .'.k rri "�
� i � r!+ t�` r * 1 �Jr �` t �� .t , t� r,•" • {Tt ,�.,Y�,r.►►�•`'�r
,!' ! {•� 'i! vt�, �r-t'f tkT'f Jtf,—b'• j� ,.:. 1 `� •3t � , ,
;y t � t t ,1 uses and occupancies except av BUYER may agree in writing.
f4v t 1}'� • tt'
, y j�,�li, f 1ti. Is ijl%fj
jj 4. FAILURE OF CONDITI011S. Should any of the conditions
R, specified in Paragraph 3 of this Agreement fail to occur within
slt j•rJ
54. thirty (30) days aft::r the date hereof, BUYER shall have the :!
�'-l```i, power,ICAM
LV
exercisable by BUYER to give written notice to ::he escrow
�t
holder and to SELLER to cancel such escrow, terminate this t �,► „ *,
`} r'f'�ti Agreement ann recover any amounts paid to escrow holder on account
of the purchase price.'of said property. The escrow holder shall
'i !1y••i
rt
Lf>,1� / y be, and is hereby, irrevocably instructed BY HUYI+R on any such 7 '
'#• <� :l j��, ti•! r ? failure of conditions and receipt of such notice from BUY:aR to
♦ + h
.it!a
+,•;' '���'�� 1�&NJZ immediately refund to BUYER all monies and instrlt„sets deposited ,
t t`t4 ,�ff r�J� ,,
1 L !
by him in escrow pursuant to this Agreement at Bi' rER'_%.option only'. 1`
��•� rt+1J yr'
6. PRORATIONS. Insurance, Insurance Premiums, and
'r?iAt,c:''`Iy¢�S Pcssessory Interest Tax, There shall be prorated between SELLER
'� `• r; ,;,_: and BUYER on the basis of thirty (30) day months as of 12:00 "`
midnight Pacific Standard Time on the date of the close of escrow
pursuant to this contract:
f a. Real property taxes levied or assessed againat,,said
r �
y�r property (inclu"Ing any water tax or yatec,raLe levied against
{ said property for the ,furnishing of water thereto) as shown on the
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!�
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Ml .t•. T 4Y'71`;;i•#2["i/t<-27Mr �•r`r 1:3[i`s:7V.i3'rL`.�%Li,i. V,St...:I.r!_1�'.,S Lt!.t SSt�•anxa/ ".J+L r' : �f ../� 1.., �iIP . .
•
latest available tax bills. The County of Orange by law will,:
refund all tag; paid by SELLER covering periods subsequent to title
vesting in BUYER.
b. premiums on insurance policies acceptable to BUYER
insuring the improvements and buildings, if any, on said property
against damage or destruction, by fire, theft, or the elements.
7. BUNDS AND ASSESSMENTS. Any bonds or improvement
assessments which are a lien on said property shall, on close of
escrow,'be paid by SHLLLR, er,cept those liens imposed by the City
of Huntington Beach or the ?odevelopmett Agency of :hQ City of.
Huntington 1B6ach.
8. BROKER'S COMMI +SIGNS -- ATTORNEY' S FEES. Airy and all
finders fees or !.ommissions due to real estate or other brokers
and all attoexiey's fees as a result of this sale of siAd property
shall he paid,'by SETTLER.
9, EXPENSES OF ESCROW, The following expenses of the escrow
described in this Article shall be paid by BUYER;
a. The full cost of securing the'r:itlL- insurance policy
described in this Agreement.
{
b. The cost of preparing, executing, and acknowledging
1,
any deeds or other instruments required to convey title to'BUYER
Or his nominees in the manner described in this Agreement.
c. The cost of recording a grant deed required to
4
convey title to said.p,operty to BUYER or his nominees as
described in this Agreement. fir;
d. Any escrow fee charged ly the escrow holder in f'
acid: Lion to the cost of the title insurance policy,
-3_
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10. OWNER'S REPRESENTATIONS, COVENANTS AND WARRANTIES. As an
express condition precedent to the Close of Escrow for BUYERS'
benefit, and in addition to any other rep;cesentations, covenants
and warranties contained in this Agreement, SELLER makes the
follow;ng representations and warranties, each of which is true in
all respects an of the date of this Agreement, and shall be true
in all respects as of the closing date (as defined in the Escrow
Instructions):
a. Authority to Sign. This Agreement and all the
documents execute4 by the SELLER that are to be delivered to the
BUYER at closing are, and at the closing will be, duly authorized,
executed and delivered to the BUYER; are, and at the closing will
be, to the best of the SELLER'S knowledge, sufficient to convey
title if they purport to do so; and do not, and at the closing
will not, tp the best of SELLER'S knowledge, violate any
provision�`any agreement to which the SELLER is a party or to
which SELLER is subject, including without limitations, any prior
►options, pitrchase agreements and/or escrow instructions.
b. Existipl Contracts. At the closing( there will be
no outstanding c:onLracts made by the SEr)LER`for any improvements
to the property that have not been fully paid, and the SELLER
shall 'cause to be discharged (in such a manner that the Title
Company will not show the lien(s) as an exception(s) to titleii,
,'under the Title Policy), all mechanics2 or materialmen's liens
arising from any labor or materials furnished to tre property
prior to the closing.
c. Title. SELLER has, and will convey to BUYER, good
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{�.i;�•1•j1 �1 la�ir l)j i.�*' ,.`,, 1+ :L t ,� -rr ., r�.� 1 ] ;!': /lei i�? Ir't tAi 1. ., �' 1 f =,y_.. !�'c .h,�'.,'1,.
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and marketable fee simple title to the property free and clear of
all liens, encumbr,Rnces, claims, rights, demands, easements,
leaves, licenses, agreements, covenants, conditions, and
restriation
V a of any kind or character (including, without limiting
'Y
the generality of the foregoing, liens or claims for taxes,
fit 4
raortgagesr conditional salej contracts or other title retention
agreements# deed
s of trust, security agreements and pledges)
except for those exception3 to title shown in the assessor's
parcel number 24-147-33 Litigation Guarantee as item 4 attached
hereto as Exhibit "B" dated March 30, 1988 which shall be replaced
by title insurance as provided hereirtabove during escrow
hereof. SELLER shall, not encumber, modify or diminish title to
q all, or any portion,cf or interest in, the property without
6, 'r
BUYER'S written Conuent.
d. Litigation. SELLER is not involved in, nor does
SELLER have knowledge of, any claim, proceeding or threatened
At
V litigatinni, adminiatzative or governmental proceeding or
investigation# relating to or otherwise affecting the property or
i ti{!`'f{Lill the ability of SELLER to deliver good and marketable fee simple
title to the property to BUYER.
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e. Tenants. There are no tenants on the property
except those approved in writing by BUYER
f. Hazardous Waste. Neither SELLER;,norr, to the best of
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S -LER's knowledge, any previous owner, tenant, occupant or user
M
of the Property used, generated, released, dischargedj,'.,stored or:,.,
dioposed of any hazardous waste, tox4.a substances or related
t" materials ("Hazardous Materials") on, under, in or about the
Property, or transported any Hazardous Materials to or from the
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Property. SELLER shall not caua4 or permit the presenCF11 use/
generation, release, discharge, storage or disposal of any 7.
I % T 'a
Hazardous Materials on, underr, in or about, or the transportation
of any Hazardous Materials to or from, the Property. The term
"Hazardous Material" shall mean any aubstance: material, or waste
which is or becomes regulated by any lonal governmental'outhorityl
le 44-
Vj� 11 tf ch the Btate ok California, or the United States Government,
.,inctuding, but not: limited to, any material or substance which in
ri hazardous waste" or
.(i) defined as a "hazardous waste," "extremely ha,
restricted hazardous waste" under Sections 25125, 25117 or. Ij
15122.7, or listed pursuant to Section 25140 of the California
Y.
Health and Safety Code, Division 20,, Chapter 6.5 (Hazardous Waste
V�f-
4, 7,
Control
Law), (ii) defined as a "hazardous substance" under
.0 Its,
Section 25316 of the California Health and Safety Code, Division
-Presley-Tanner 20j. Chapter 6.8 (Carpenter Hazardous Substance
K
Account Act), (iii) defined as a "hazardous masterial,h "hazardous
tj �4 substance" nx "hazardous waste"- underSection 25501 of the
California Health and Safety Code, Division 201 Chapter-6.95
+ (P-azardous Materials Release Response Plans and Inventory), (iv)
defined as a "hazardous substancell under Section 25281 of the
ILI California Health and Safety Code, Division 201 Chapter 6.7
(Underground Storage of Hazardous Substances), (v) petroleum, (v-)
asbestost (vi) polychlorinated byphenyls, (viii) listed under
Article 9 or defined as "Ivizardous" or "extremely hazardous"
pursuant to Article 11 of Title 22 of the California
Administrative Code, Division 4, Chapter 20, (ix) designated as a
"hazardous substance" pursuant to Sec�lon 311 of the Clean Water
Act,,.( 33 U.S.C. 51317)t (x) defined an a "hazardous waste"
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pursuant i.o Section 1004 of ce Conservation and Recovery "�'�
�•'��� ez�$ ��,�'�� �� s2A - p f theResour
(42 U.S.C.
56903) or (xi) defined as c
,��, r ' •,,;7��, ���: Act, 42 U.S. C. 56901 et sea.r
�f ��w k�` �•J :�4Ft' ��,.~4{r .t.�,J;'lwri'>,�,
11 pursuant to Section 101 of the
S a hazardous substance" pursu n
Comprehensive Environmental Response, Compensation, and Liability t,�e {f
iZ'+ �'(• *'AR: 1tif7r�i}� y'll tt� t4 4zj' Stiff rt,'
`ct, 42. U. S.G. 55901 et pea. (42 U.S.C. 59601). `3'r;a
�j, r, !. . G�n�! r'.: fit.• ...�.. lis.J_i} Y��� rt toil `', ;►',
Comoliance with Environmental Laws. The Property
aria its �.ntended use complies with all applicable lawn and ; :y-,�•�f ���:
a
tr•
��overnmental regulations including, without limitation, all
4 t
applicable federal, state and local laws pertaining to air and,
water quality, hazardous waste, waste disposal and other
environmental matteie, including, but not limited to, the Clean ;
t -!F° : wa=1!'�nit ' Z t l �t•j i; r „' r
Water, Clean Ai•r, Federal Water Pollution Control, Solid Waste
44 ' i' "1"j��y
Disposal, Resource Conservation Recovery and Comprehensive ra ,
t by Ar 11
Environmental Response Compensation and Liability Acts, and the
,j,. t. Lti fart irk ,L r
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California Environmental Quality Act, and the rules, regulations
X", and ordinances of the City of Hpp�untington Beach, the California
r
; Department of Health services, the Regional Water Quality Control
,:< .s �,�,�yi�.,� ���; •,k Board, the State Water Resources Control Beard, the Environmental
.'_ +'rY�' Protection Agency and all applicable federal, state and local
agencies.and bureaus.
Indemnity. Seller ehall idemnify, defend and hold f
j1
r' tr L•L` Lrt BUYER harmless From and against any claim, action, suit,
5,k�t}l'`
proceeding, losa, cost, damage, .liability, deficiency,fine,
penaltyt punitive damage or expense (including, without:
^r, limitation, attorneys' fees), resulting from, arising out of, 'or
based upon M the presence, release, use, generation, discharge:, ,
i;.Ysq tt storage or disposal of any Hazardous Materials on, under, in or
feM1.'
f�41,%•r. about, or the transportation of any suc..`' materials to or •from, the
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Property, or (ii) the violation, or alleged violation, of any
statute, ordi'.., .nce, order, rule, regulation, permit, judgment or
license relating to the use:, generation, release, discharge,
storayet disposal of transportation of Hazardous Materials on,
under, in or about, to or from, the Property. This indemnity
shall include, without limitation, any damage, liability, fine,
penalty, punitive damage, cost or expense arising from or out of
any claim, action, suit or proceeding for personal injury
(including sickness, disease or death)# tangible or intangible
property damage, compensation for lost wages, business incoae,
profits or other economic loss, damage to the natural resources or
the environment, nuisance, pollution, =taniinationj leak, spill,
release or other adverse effect on the environment.
11. ATTORNEY'S FEES. In the event of any.';;ontroversy, claim
or dispute arising out of or relating to this Agreement or the
escrow or any breach of either, the prevailing party shall be
r
entitled 4o attorney's fees.
r•{uf� '
11.�` 12. TlikEAT OF CONDEMNATION. The parties agree that the
rn ert` being conveyed L 11�� p p y ng n eyed is under threat of condemnatiunby the
){i\ BUYER. BUYER agrees to iupply SELLEPr with a letter evidencing its
intention to condenn.
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f• +r•��j - 13. WOTICES. :any and all noti%.es or other communications
ren.uired or permitted by this Contract or by law to be served on
t: {�W .
or given to either party hereto, BUYER or SELLER, by the other
' —party hereto, or by the escrow holder shall be .in writing and
shall be deemed duly served and given when personally delivered to
r any of the parties, BUYER or SELLER, to whom it is directed, or in
lieu of such persona]. service when deposited in the United States
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-iddreeced to the parties at the
-class postage prepaid,
=;r r { h'� ,'
mail, first
address shown below. SELLER May change his address for the
purposeo of this section by giving written notice of such change
to the BUYER in the manner provided in tilia section.
Address: (SELLER)
Address: (BUYER)
Teberg Redevelopment Agency of the
Jofin A.
211 Main Street city of Huntington Beach
C/o office of the City Attorney
”,
Huntingto,"Beach, CA 92648
of the City of Huntington Beach
Box 2740
P,O.
Huntington Beach, CA 92647
rr 1.,! 4'1
REST OF PAGE NOT USED
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14. ENTIRE AGREEMENT. This instrument contei,ns the entire`
agreement between BUYER and SELLER reapecting said property, and
any agreement or representation respecting said property or the
duties of hither BUYER or SELLER in relation thereto not e'tpresaly
set forth in this instrument is null and void.
EXECUTED on !^ , 1988, at Orange County,
CaliforO.a.
SELLER:
JOHN A. TEBERG
DUYER:
The REDVELOPMENT .AGENCY OF THE
C;TY OF hUNTINGTON BEACH,a
municipal corporation of the
State of California
C401 r M n
t
,4- '�t r� ATTEST:
V5D AST 'C'Rt^!:
to
t`�?titi Y> r I t`lY
agency Clerk A TbnEPA- ttorne
'¢
`a'Sf ; -1 EV D D 1�Ri7R ED: IN I D AI P 0
7� ','�tJ ri x � l • �
City Administrator Det City
Admini.etratat �
Dir or of Community Development
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(CLTA -- REV. 5-3-73) „� ` •� `, �>)i
Y, I T I GAT I O N G U A R A N T E E 1, u
I LIABILITY $5,000.00
r` FEE $125.00 YOUR FEE: 024-147-33 -�
' SUBJECT TO THE EXCLUSIONS FROH COVERAGE, THE LIMITS OF LIABILITY AND F
r- OTHER PROVISIONS OF THE CONDITIONS AND STIPULATIONS HERETO ANNEXED
AND pWDE A PART OF THIS GUARANTEE..
FIRST AMERIChN TITLE INSURANCE COMPANY
a corporation, he called the Company ''` ` '�.+il
GUARANTEES
0A
' REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
HEREIN CALLED THE ASSURED, AGAINST LOSS NOT EXCEEDING THE I,iAB:tLITY :,' t� t ✓ �1�
AmoUNT STATED ABOVE WHICH THE ASSURE) SHALL SUSTAIN BY REASON OF ANY
INCORRECTNESS IN THE ASSURANCE WHICH THE COMPANY HE"tEBY GIVES THAT, 'fll'1�1i �t
ACCORCING TO THE PUBLIC RECORDS, ON THE DATE STATED BELOW,
` 1. THE TITLE TO THE HEREIN DESCRIBED ESTATE OR INTEREST WAS
I '' S
. � �T�'STED IN THE VESTEE NAMED, SUBJECT TO THE MATTERS SHOWN A
' EXCEPTIONS HEREIN WHICH EXCEPTIONS ARE NOT NECESSARILY SHOWN i
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IN THE ORDER OF THEIR PRIORITY; ,
' 2. THE NECESSARY PARTIES DEFENDANT IN AN 1LC',['ION TO CONDEMN SAID - i r t t�t"•>� , E`'ii�~
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IMID ARE AS HEREIN STATED.
Of
t f • !'� % `'� DATED: MARCH 30, 1988 AT 7:30 A.M.
FIRST AMERICAN TITLE INSURANCE COMPANY
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BY D. P. KENNEDY PRESIDENT
BY
`tt 1 DEVIN L. BAKER ASSISTANT SECRETARY
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(CLTA — REV. 5—,3-7s)
{' ,'' <<,' i •! ,tit TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF TS VESTED IN: ;;' , .,•.•, t '
1 JOHN A. TEHERG, A MARRIED MAN AS HIS SOLE AND SEPARATE PROPERTY BY �t
DEED TO HIM DATED OCTOBZR 31, 1900 FP.OM PHIL A. CESSNA, AN INHARRIED r'
NAN -AND` ELMIRA SLATON, A WIDOW RECORDED NOVEHHER lz, 1900 AS
1
INST4UISEliT N0. 14304 IN BOOK 1387.9, PAGE 1095 OF UF'FICIAL RECORDS. t
STAk: S $99. 60, A1;D BY DEED TO IiIM DATED JULY 21, 1982 FROM NANCY ' '?
i�• BOXLEY TEBERG, AN UNMARRIED WOMAN RECORDED JULY. 27, 1982 AS
r INSTRUMENT NO. 82-258506 OF OFFICIAL RECORDS.
TI:E ESTATE OR INTEREST IN THE LAND HEREINAFTER DESCRIBED OR REFERRED
' PTO COVERED BY THIS GUARANTEE IS:
A FEE S, t, i i ;•' r�r ' �!/, :��,
1
EXCEPTIONS:
At;
1. GENERAL AND SPECIAL TAXESFOR THE FISCAL YEAR 199E-1989, A LIEN+: NOT YET PAYABIRE. ?r� r
c1 • �,�' 2. SECOND INSTALLMENT GENERAL AND S'?ECIAL TAXES FOR THE FISCAL YEAR
} R`i 1987- 3.986, AMOtTNT $26+4.71 i CODE AREA 04-035, A. P. NO.
i f
� �; !i'�t •:, r , 024-1.47-33.
3. THE LIEN OF SUPPLEMENTAL TAXES ASSESSED PURSUANT TO CHAPTER 3.5 \ ;; it" ` s. l;s�+i r .'.,,
COMMENCING WITH SECTION 75 OF THE CALIFORNIA REVENUE AND TAXATION CODE.
1,;• ��'�r; r.% r r; a. C0'fZENAHTS, COVOITIUNS AND RESTRICTIONS IN AN INSTRUMENT RECORDED
IN BOOK 103# PACE 306 OF DEEDS, WHICH PROVIDE THAT A VIOLATION
THEREOF SHALL NOT DEFEAT OR rZE:NDER INVALID THE LIEN OF ANY MORTGAGE
OR DEED OF TRUST MADE Ito GOOD FAITH AND FOR VALUE. BUT DELETING
�,'�� �' � 'r; . � .r r" • RESTRICTIONS , IF A.IiY, EASED ON RACE, COLOR, RELIGION OR NATIONAL
ORIGIN.
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(CLTA — REV. 5-•3-73) ,ti �' •�r' `I
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try ` SAID NECESSARY PARTTES (OTHER THAN THOSE HAVING A CIJLIM OR INTERE-ST
8Y REASONS OF MATTERS SHOWN IN EXCEPTI0113 NUMBERED 1 MILROUGH 4
' INCLUSIVE) TO BE MADE DEFENDANTS IN SAID ACTION TO BH BROUGiiT DY. THE r [ ! `4,
REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, AS r'LAINTTFF,Ile
ARE : tS FOLLOWS:
i }` JOHN A. TEBERG
1
C,-0 213 MAIN STREET
:i"'NTINGTON BEACH, CA 92648 � � 6-' t�
(OWNER) r 1
f r '
a DESCRIPTION I`
, xt t
THE LAND REFERRED TO IN THIS GUARANTEE IS SITUATED IN THE STATE OF
CALTFORNIF., COUNTY OF ORANGE, CITY OF HUNTINGTON BEACH, AND IS
DESCRIBED AS FOLLOWS:
_} Jr'i •
LOT 12, BLOCK 204 OF HMMINGTON BEACH, AS PER MAP RECORDED IN EOOK 3, 5
PAGE 36, HiSCELLANEOUS MAPS, IN TILE OFFICE OF TiM COUNTY RECORDER OF S SAID COUNTY. , .r c' .r•'`f (f'
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1
GUARANTEE CONDITIONS AND STIPULATIONS ?'ti
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`Jf`ri s 1, Definition of Tarnis fit loss to the. Assured widdri the coverage of this Cwunsitre, ex to Is ;rj(s \ ' ):.
„ J' .i' i T}jr fallawin terms v%hen urcd do this l:anrantce mean: IiaY the foil emaunt of this Cuarantce ct, U this Coarasxts,e 4 " '
't i �, g murd for tho l►encfit of a holc:ri of a snortgalte, Ise Cromparty silaz st
(a) "hail"' Thn land described, specifically or b • reference is fiavr the o tion to ppurchase the indebtedness sxcuried by said `� ti 1
1" • ,1` this Guarmilee end improvements •XIwd thert•ln)w•hich by VA' utortgag;:, �uch purcltata, pt)-rent or tetxier of l;ta)taent of Le \ 1
full amount of the Quirantre shall terminate all habfli of the
mn%tit,utu Mel prJperty; ty ,, 11 , ,' )
-T , Company hcrr'uidtr. In the even, titer notice of claim hu lien r +' t', ,r '''
', -i. 01) "pnbHc rrconii'c owe irenlcl%which impart constructive notice Oven to the Cornnan ' by the Assured the Company affen to r t` '
,, t of mv;ters relating to ►aid land; purchase• $.till indrbtet�ness, the owner of such hxlebtrrineu a1taU ' ' �'+•i
% ,' tt.tnsfrr and acsi an said inclebtedncss And the mosiisgge securing
(c) "date : the, eQcclive date; the• iarne to the Gimpiny upon payment of the purchase price, fit:
' 1) "tile Assnrnl the party or parlics named its the Assured In " r '
,, , i
6. limitation of Liability-- Payment of late �1
' i Ihls Guarattlee, or In n supplemental writing excattrd by the i., •
i' t F Cutupany; (a) The IlAMM)• of the Catnpany under this Ctta�jtm &It A be It � f'
(c) "ntottgaiir mortgage, dre,l of toast, Into iced, or other fimitcd to lho amount of actue lass sustained by the Assured _
liecausc of rellance upon the Assurances herein set forth, but in r ''- '
. seci-rily instrument. till event shall sum liability ewred the amount of the liability •,
stated an tite fam p.,go hereof. ,:r: +l it ; -
3, Exclusions from Coverage of Phis Guarantee (h) The Company 'xill pay all costs imposed upon the Assured in tr � ir
, i
cr tJ Tim Company assume; no liability fnr Ins% or domacc by reason litigation carried on by T-j Company for the Assumd, aril all s , =,'y
rf lilt (ollowtng: cow; and attorneys hers In liti;'ration canted on by the Astuued :7
%vtlh the w riticn nntForization o 6i% C.ampany. t, i s� ", i, , ', t ,;
(a) Taxes or asscss•nen!s which tin not %horn O% existing liens h) t t
s thr records of any taxis authority that hn•ies trio•% or a%%es%mcnls le) No claim far dmm�ges shall arise or be maintsdnable under s s,
gg 1 ,to. A.
.tn teal property cr by ,lie public record%. this Guarantee (1) If the Comp,'tny after having receive! notice � r;
•J' I , + ` of an ,-illeged deffect, lien or encumbrance, not shown as an F.zctp. ,1,, ' % 4, ` ; + ►t
(li) Unpattntrd mining dnir.u; rest or exception% in teat- Non or escluc?td her!ln Msnoves such defect, 1!rn of enrambranex ' •, r','
ents or !n Acts Onthoriting the i%%uanct• thrtrof; water rig its, %%ithin n rrasouable lime after trees`+% of such notice. or �2) for „�
1;. . •:i- claims or title to water, liability voluntarily assumed by the Assured in settling any claim - .1 �, •, ^
t or salt %%ithout written eJtij:cot of tilt Campany, ,i }a" ',
{oi Title to any property Ile)'rnul-hie lints of Ibc land cxpressly ,
' descrihcci in the dc.criptlon set teeth to tills Gu:rnnt,e, or title (d) Ail pr.)r'tcnts under thtr Cu►.rau!ce, except for attomeyi feet } !.`` �t \ ':C
to streets, raids avenues, lanes, wn) % of v%atrrways on which such ns provided for In paragraph d(b) httrnf. shall reduce the asa cunt 1!' "i f ! r,%tj �,
i land abuts, or t1te right to maintain thetcin v:uilts, tunnels, ramp% of the liability hrteundicr tiro canto, and no payment shall be I 'xi, t, pia t}
or any other structure or improvement; or nay rights or casmements made witnoi,: p-educing this 1 uarantee for indorsement of such .
` therein unless such ptopetty, ri its or casements are exprisly payment unless the Guarantee bet lost or destroyers. in which cave : ,' ' • ' . %.
1 Ord specifically set forth In said 5csnlplVil. t1iro ff of such loss or destruction shall be furttishe%1 to thr- setts- ,`: 'r t ! ,
faction of the C.om;+asty. ZI r "w.. '
11 (d) Defects, liens, encumbrances, adverw r1alms against the title LS ,,Ji A,'
' As guaranteed or other matters (1) created, suffered, assumed or (0 W6.,n liability has Ixen dcfnitcly (lied In aceordayce wtith the ,+ `I f , ,
' " agreed to by one or more of the Assured; or (2) resultir.F in no conditions of this Guarantee, the loss or damage shall be payable , c '',t' re-
ti lost to the .lssured. wit':in thirty days thereafter. ° v J c
"` Y , �i • R
7. Subrugati.tn Upon Payment orSOTtlamtnl ' se. 0. 1l
3. Prosecution of Actions t
: r (a) The Company ' sh011 luau a the right at its awn cost to fn%atutr Whenever the Company $.hair have utt!ed a claim . �ndct this „ , %k, t t
,ti p ) d Guaramtw, all rfp%t of subrogation shall vest in the Compan ' 1.; � ' r? •
• 7 and tvsucttte an), odicn or strocee ing or do any oilier act which 2 W.. -. t
is ' p ) 1 unaffected by any act of the Mint -d end it shall be subro aced r
•; 1 in its o Intan ma • etc necessary or desirable to establish or con- g + ' • .f i, ,i �f
{!1 j P ) �• to and Ise entitled to all rights and rtmcdies which the Assured _ t
; J rye; firm the matters c*cin Etta-antccd; and the Gampan} ma!! lake would have had against any person or pro rt in respect to siuclj `' , ,, ,: '+'?t
tiny apprapprixtc action under the terms of this Guarantee whether ie y
Z'x ,'• ,1''' or sal It sl..!I Ix liable therouncier and shell not !hereby eancrde claim had this Guarantee not been Issued. if the payment dons `4� r ?• '.,
not cover the loss of the A.aured, tL Company shall be subrogated r r7,'? • '
r i IV ., ', linbilit at W ah,e an Irovision hcrcof. -, .
t N� y )' t to such ri�tits and remedies Ia the proportion which said ra)ment
Mean to lFlc nmounl of will tau. T}ic Assured {f rcquestcd by thu t ,
f 41 1S
i . � (n) in all c _%cs where the Company does set institute and prasenslr ' -
%'ti,% r (1' +�`� ,' toy action ar procttding, the Assured shad! permit the Company Company, shall transfer b the Company till rights and rrrnedles ' i4'.
1f to use, ■t its option, the name of the Assured for such purpose. against any {arson or pnrixst)• necessary in order toypcn:crl such t s� }, t 'A, . %r ',
' J 'c,� i`= lt'hrnc%rr requeslcd h• the f:ompan}, the Ass'trd :h. tl gi%c the right
of nubrngation, and shall trait the Company lr rise the J, r .. i t ,t,
. J r Cantpan)• all reasanable aid in prosecuting :.each action or )ru' name• of the Avured In any transticiion nr litigation involving such 7 �;s "a', ' Y
s _tit,+ t .t , ri :hts or tcmcdie.. % Y
i. „ ceasing, One.. the Company shall reimburse the Assur.-d for any i rt �,k �-•- ;
f ' expose so incurred.
,4'�r `` 8. Guarantee Entire Contract ` '}'`
% ' `t„r 4. Notice of lost — limitation of Att}on Any action or actions or rights of action that the Assured may have �^= t 1 ..
l -. r tr A statement in writing of and loss or dam:+ge far which it is or may brio against the Compcny arising out of the cubiect t -y, ,, t 11
. tt `t' ` cla!mrd the Company is liable'under this Guarantee shull h.s fur- matte, hcn•nlFn:uc2 i>, baud on the provisions of this Caarantee. „• �',
r ' J 7• ~ ._:'; ni%hell fo the Company a ithits sixty dF.)•s after suns. )ass or damage No P�'isian or condtlfon of this Guarantee can lie wahYci or +,/ �• '
�hanFFrd cxcrpp�t h o writing endar.%rd or tsttachecl hentu �i , red ri '' ''
� . z' `,' 1 s - shall have been determined, and sin right of act:on shall accrue l'y t}'e Presidrnt,) A Vim I'resld-tit, rho Srcretaty, an Assistant flt� r i" ., ,
+ +-'l" 9 to the Assurct under this Guarantee until a.Irt d.'t •s after such r f _i`
r• • =,-; �•!`f` statement shell have been furnished, and no recover• shill be Srcrctaq or other validating officer of the. Company. `I- I t .: '
` t d by the Assured under this Guarantee unless action shall bt- 1 ' 11
a 7 , ,,;; , t ,
re. K commcr; thereon within two years after expiration of said 9. Notices, Wisere Sant 1 '"i' a ,:!�
j G1 ( - thirty day period, failure to fimilsh such statement of lass or All notices required to lie given the Company and an), statement , t�`, r,, t ' ';
: i is 1.' • . - an or to commtnec such action within the time- herelnLefarc to writing requird to be furnished the Com any shall ire at'dressed t
c ,• , 0 s'r` !; specified, %)jail lie a conclusive bar 11g2inst maintenance by Ilia In it at 4_1 North Main Street, Sartre Ana, California 0_701, or to '' �,
� , r . I% ,, Assured of any actinn tinder this Guarantee, the office which issued this Cuanantre, t `�
, ••,11 .r i. 5, Option to Pay, Settle or Compromise Claims 1Q, Fee , ' f J ,i,i ',,,-It tit
` t , ,I i !:r ;V ,r , Tire Compsuy shall have the option to pay orsettle nr coo romise The ko •cif.:d on the fare. of lids Guarantee is the, total fee for }x r-:' it J '�
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CITY OF HU!"UTINGTON BEACH
I?Qr
,. 2000 MAIN STREET CALIFORNIA 92648 tt }
o , :n
OFFICE OF THE CITY CLERK
` July 29 1988 ,,, , 'rf
i.4 John A. Teberg �3J"I [L ,`
"`
211 Main Street'{' ;
Huntington Beach, CA 92648 �' ,}„' '�� �•
Enclosed is an executed copy of an agreement for acquisition r�,r.,,
of property located at 212-5th Street which was approved by �,�►?ri#r'�[,� J<
the City Council oi' the City of Huntington Beach on April 18,
1988.
t• 41 r` +it
Connie Brockway
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t 1 ' I,,, � ACREE4lr r PO}I ACQUISITION OF REAL }'ItOPFJlTY 1.' I ,
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! .� 'L111S ACREI?tl:N�' is entered into this -..--- ,,". .I s;
1`r` '' J}'., butvecn th1 1;E9EJEIL)i'MENT AGENCY OF' 111.1E CITY CF ;{U►�SNCIT)N DEACl1, (Iicrcinl,fter t y:
:i' ` culled "Dryer"�, and the undersigned orner(s) (hercinaftcr celled "Buller") for r`' a !1 f, ,
' ;` uc uitition b Du cr of certain real property hereinafter set forth. t
I.�,, a r r
t 1t IT IS HEREBY M(LYUALLy ACRCCD BETIIGEN 'CI!E PARTIES t,S FOLLOIlS: t '
<4 ,M , " r ii 1 r 1
}� ' 7 j 1. AC:I:f.I71F.IIT TO SEI.I. AND PURCHASE. Seller agrees to uo. to Buyer, and Duycc '} :;
agcerx ro 1+vrchnee ic�a Seller, open the terns gad Car the eonsidaration vet forth t.:il �4 �"
�j,'. i i property Y ;
I;, n Thin Agreement, all that eertnir► real ro ert (hercinaftcr to11eJ "Property") } .;. '
t,, c�tuutcd in t:hc City of HUNTINMI DEAC11. wunty of Oi:Al2CG, Sta.e of (allfornlo. t ,
-. f
u•,t! legally dew:ribel na [ollowst t1
r " 11: I , t
SCG E1lIIIDII' "A" ATT'` '�1' !:.''f�E'1Y) AND RY THIS RGFERGlCE 11aU1: A PAkr 1ltiBFAF r r. '''(r i. t
, 4;t- II 4I t�t� ',I
t! r
1.
4 3 {�2i4 r4r 0 , i
[2xcc tfnp and resl:rving All ail, h drocarbon substoncea and aincrala of every king 't+,7,t:i „t,1;I t,� +1,i�
1 .. , and pchnracter Iying arora' thna !,00 feat below the outface of said laud, toprahtTc t ,it;. ���,�`� (}i
'�_yE '1'. t. `,' �•1bh the rlb,�t to drill into, through, and to use and occupy all parts of said IAI�d `, r x,, t{�{)�+}I.•.,
J _t �; •t Lr4. a,t :' •, lying e+ore than 500 feet below Y.hr surface thrrenf for any and all purpor�s � � ,` I` ,
fI.. •i_ t incidr.ntol to the exploration for on:1 proCuction of ail, gar, hydrocarbon .` `�; � ''aI ' .
. � f '' uubstancca ur minntals irolo acid or other lands but without, however, any right to t }I
1 t t ' + use either the surface of. aa1G land or an? portion of said :end withlu 500 feet of 1r� It' �`') ti 1�
i l/
I tht: surfucp for any purpoao or purposes vhacsocvtr. _, tL �!
"• 4 t 'Y' li {, i
4� �I . i
t ,� 2. PURGI.�SI PRTC:F.. The total purchase prier, payablt in cash through cgcraH p a1t1S�
.�' t7 '•T- r3hn11 he the sue+ of ! {I '�'t.f�.>1%i�,;`` r;•. Z
;, 1. tlr,J� '•f, t, _ S `�! �,3�tt f•,fi r;- ++I
It" ui , '�.
lt` ONE 1lUNDk TNL'!7'Y I'IVE TIIOUSAfID ,iND NO/100.........•...D111.I.AR$(S1.i,000.1>ti ) 1 1, i I' i
is
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�' 'i ' 3. CONVEYANCE OF TITT.E. Seller agrees to convey by Grant Dcad to Dltycr I t`: ,f.:"T : t '-
! L fix! `
s,,
S -� , ' '! , s.orketable fee simple title to the Property free and clear of all recorJeJ or.J =a. , ` t ' I
. - 3
•i. - t { unt'cCorJCd liras, CrtCvmbrailCCi, An8CSuiAelltS, eII.31-menta, leaves aria taxes EXCEPT: a+ ;, � `y"" .
I �I
i 7� ., . c{ a c 7 A. Taxes: 2nd linlf Fiscal Year 1987-88. YL^I• v , t` ~, ,
�- +- l z ti. " D, unsi- ublic utility, public alley, public street oasementa and rights of way :� V�4, ,'
..z-
`� ; ,b� , _ ` `t ` T .' uC rCCOrd. {/ ot,ri ^ 4 a
If{+y r �`," 5. + t C. 1tcars nurtbrrcd 4 of the above numbered title iepnrt " F, . ., :L.,, ; r '��l i'
I, err i t MARCII 30, 19IB :4� ,tP� lti , , I.
iIi- issued by FIRS? A!'1JiICAN i1'l !•t OOMPA4Y dated ;r ,t ,.r .
r � 7 1 i 1 �� D. NONE . , �4 "� i {,a ?,
` . �1 'II."t-I is �i,,ll,t yt ft +T'� 2'(ti ti xl'ar,a 1`.�}�' ri
1. , 1 ,t 4. TITI.?. INSURANCE i'O1.ICY. Escrow Agent shall, follorrtng-ecording of Jced to t +�,{, �, „`� ' ,�
': `{N;"� •` + �': Duyrr, provitlr Duyer with CLTA Standard Coverage Policy and Title Inaurnncc in the j r�,r-'f'rtlj {Z}`f� "s
,II't 1, ` ` anwunt of ; 125.000.00 ,issued by FIRST AMMICAN TITLE QIHPAh'Y '' r .� "`
i,i- Z �� ,, ; ahtnr.ng the title to the property vested in Buyer, subject ones to the c►ceprions a '11
+ „ ,�```'
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`.,r,F" , , ti' t, :iGt forth in I•ArAgrapli 3 .esri+ ah .+t '`t� • .W. t {,�%,11 S.;t , '''`-
u }:eS-, Uuyer agrees co pay the I'ramiva charged therefor. i, 1� r •� .' } X:, ,
�," ;, , + ;t
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�t 5. 1:;%Rt1W. Du er Agreee to o en nn cacrow !n accsrJance with th'.a Agreorotnt I *+ rr+ I V,, > 4 { C
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r` r 1 t ,;t Ut FIR, AMERICA), TI'L"..E O(lpli'A INY r �F I !� }- ? r; ?
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K +.ti + + u: This ngrccn+cnt conat tutea t+:= point eacrav instructions of Dwyer and Scllur, and r ,_ f , ti ,r.
{:t3t1�. 1j•, jI"t y:. escrow Agent to khoa tl.cse inatrurtiont� ore dcll�crcd is `tetchy:larwwcrcd to act r ; 'jL' ' �1 ' {
1 + I tY ' `
�{ a 1, %11 ur+der this Agreetaont. The part9ea her4to agree to do all act•: necrsLary to c:nse {j� +;(p.4 +: .I
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. . . . . . . . . . . .
Eel ler has executedjind handed a deed ti Buyer, conc..cently with this Agreement.
the txecured coed, cf escrev, Buyer vill dapajit t
r boon aj possible after opening
A v
i
with Certificate of Acceptance attncha4, with Escro
w Agent an Seller behalf.
Buyer agrees to deposit tho purchase price upun denand of Escrow A;m Buyer and
Seller agree to deposit with Escrow Agent any 4dilLtIonpIl instruments as way be
- , !!_ ,,j 4 lluce3sary to complete this transaction.
.0
ia; jC1 Insurance policies for We or casualty are not to be transferred, meld Seller will
Cjiicol his own policies after close of ca.-row. % All funds receive:In this escrow shall be deposited with other escrow funds in Ll
-al -row t(s) and my be tro.isfurred to Any other such escr4v trust
general es. acLocn
account in any Stato or Natioa:.l Bank doing business In the State of California,
by check from such account.All disliur:;ements Shall be made
INS7`1111MED TO OWLY W
19 Tnl 711F r01.1rATKG TAX
rSCROW AGe.WT IS AIMIORIZED ANT,
)IIAISTFirNT 11RDCFD11PE:
e
A. Pay and charge Salle: for any unpaid delinquent taxes apd/or penalties and
interest thereon, and for any delinquent or non-dtlinquent Ashasswflts Cr
bonds &E;alnut the property;
Escrow 2a not to be concerned with proration Seller's taxes for that current I
fiscal year if this escrow closes between July I and November I unless
current Lax information is available from title insurer. In the u.,tnt s i?,
tax infuriation Is available, Seller's taxes shall he peorated. In accordance
with Paragraph C below. Fran July I end ensuing period, when tax information
taxes duo LO Close or escrow,
Seller's prnrata portion of to
in not available.
shall be clenred and paid by Seller, outsi4a escrov, purburnt to [ArOVISiG."i Of
Section 5W2 through
5090 of the Revenue and Taxation Code of the State Of 44
ij
C. PCOM the date that tax information fu available, as per Paragraph R above.
0 D up to and including June 30th, Seller's currant taxes, if Lnpaid, shall W
prorated to date of close of o2troo on the yams of a 3b5 day year in
accordance with Tax Collector's proration requireaL-Ats, togather with
perialtioi and Interest if said current taxes are unpaid utter Wcemloar 10
and/or April IC. At close -of escrow, check payable to the County Tax Collector for Seller's prorate portion of taxes aliall be forwarded to Buyer
with closing statruent;
r
D. any taxes which have been paid by Seller, prior to opening of this escrow,
u
shall net be prorated between Buyer and Seller, but Seller shall tumn t h
sole right, after close of escrow, to apply to the County Tax Collector of
sizid county for refund. This refund wouldapply to the period after Buyer's
4,"
I o acquisition, pursuant to 9".venue and Taxation Code Section 5096.7.
ESCROW ACrW IS AIMIORT71-M Tr-,A%D
j,
E. Pay and charge Seller for any amount necessary to Place title in the
condition necessary to &ettsfy Paragraph 3 atthis Agreement;
!"44
F. Pay and charge Buyer and Seller for any escrow fees, charges and costs
4
YI
payabl.j under Paragraph 6 of this Agreement;
L4
ly,
"i AV& been
G. Dinhurse funds and ieliver deed when cotl4itions of this tscrw h
fulfilled by buyer and Seller.
The term "close of encrow", if and where written in rheas Jn*t7,4.Lj.% :3 Shall Mean
necessary the date instrumento at cmvej,ance are recorded I--; rlik Ice of the
Recorder. Recordation of i%a4trua%-.-vt9 delivered t1viv, _-`ALs escrow is County
luthorfted if necessary or proper in the Issuance of said IAI-Iry of title
K,
insurance.
V,
All time limits within which any matter herein specified ia to bet performt-4 may be
I Ni "'10Z1
extended by mutual agreement oZ the parties herein. Any ametl4mant, -'r, or 1�
be 1a writing. GUpr.lC0Cnt to, any InZt::UCtiOnC LIU-it
4�
j,tj
TIME IS OF ITE ISSENCE ITESE INSTRUCTIONS AND ESCROW I!` TO CLOSE AS SOON AS ZT.
rOSSIBLF. If (except for deposit of money by Buyer, which shall be made ly Buyer
upon demand of Escrow Agent before close of escrow) this escrow is not In condition
........ to close ulthl.m 30 days iron date of thGan inmtructions, any pasty who thati shall
W�
have full
y compiled vizli his instructions nay, In writing, demand the return of his
money or property: but If mono have ccmplied no demand for return vnar&or shall
tie
ill
Pace 2 of 5
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r0t.':,r iS;i':r � d7 - .,1 , +' - ',� jY(, . 3"? .„`{ Sl.-j�+t r ; �
14
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f
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7-
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b.: recognized until 14.vu (5) days after Escro. Anent bluill hava w I LO cuplub uE
b a c cr tl
such detsland to all o r p-mion at Lhu ro-ipective AIL 23SCS shown in the L; Od
instructions, and It any objections are raised within said five (5) d-1Y perked.
Escrow Agrnt is ouLivirited to hold all papers and documents until Instruc;ed by u court of competent jurisdiction or mutualmade,
instructions. If no demands are
I
proceed with clo3in", of this esnrioi as soon as possible,
lesponsibility for Escrow kgcr,t under this Agreement lit expressly limited to
1.
Paragraphs 1, 21 3, 4, 5, 6, 7, 91 10, 17 tr. 1 Its liabilitt under 111"
any policy of citla I.nsurance Issued in regard to this transactilt.
7', i
J
J IJ
M.R(V IT.LS '11ARCES AND MSTS. 11uyer agrees to pay all 4foo, charges
&
and costs which nL-ILu in this escrow.
rf:AND OMIPPNCY BY !'ELISR.
7. KIMAL Seller agrees tc execute a complete, current
A'
and correct statement of rentals on form furnished to Seller end deliver same to
Dula- within fifteen (15) days hereof with copies of any writtenle-1303 or rental
&
agreements attached. All rents 4L11 be prorated as of the class of ascrots on tho
Casio of a 30-day month consistent with that Statement, auhjuct to approval of 3. Buyer, Seller hereby agrees not to rent any units on the pro:--ises which are now
vacant, or u41ch nay be vacated by present oCcupnts prior to close of c.
stateuint referred to sho)i include the [T, 0,
Seller hereby warrants thaL the rental
tasks of all rental aaree"nts, tenancleoll and leases (wrll.ten, unwritten, Tecorde
agrees to hold Buyer harmless from all
or ntirecor4ed) liability frock my Guc:%
leases or agreements. . Seller also warronta that there nraq n4, oral or written
1w
leases on all oi- any portion of prtperty exceeding a period o* one clogith. and 0',
Seller hold 1L. L_ A 1 11%. ft.%dr tot any And all uf
f c er urtMa agree: to o Borer 1I333all I. M
its losses and expensen occasioned by reason of any least, of said property hold by
nay tenant of Seller for a period exceeding one month, except:
Leases an Units I thru 4 which Buyer enrees to leave In force. Buyer acknowledges
said leases and aArens to buy the property subject tj them. C-3pies-of said leases
are attached to tlo agreement.
7 t I 8. PLUISS104 ID ENTER ON PINTSM. Seller horaby grants to Buyer, or its
J all reasoUle orenter authized agents, patmission to eer upo-i the Property a. no tJwea
prior to close of escrow for the purpose of making n&Le3wry or appropriate
inspections.
Y.
a
9. (VJFrFR°A_PM. This agreement may be executed in counterparts, each of Which
so executed shall, irrespective of the date of its execution add delivery, be
deemed an original, snd all such counterparts togethar Mall constitute one and the
rAne Instrument.
10. aMING ST.MMT. Seller instructo Escrow Arent to release a copy of
Sellers's statement to Safer; pl;rpose being to entertain If any relftbUromeAtS are
due Seller.
0"
11. I= OR MWGE TO IMPROMEMS. Loss or domae to the real property or any
improvements thereon, by fire or other cAsualtr. occurring prior to the recordation
e to the of the Deed bhall be at the risk of Seller. In the event of loss or damar
'N real property or any improvements thereon. by lira or other casualty, shall occur
"
-,, proceeds of any Insurance which any b-colia payable LO Seller prior to the recordation of the Wed. Buyer car elect to require that theScalarpay to Beyer the r by
I. reason thereof, or to pernit such procoads to be used for zho restoration of the
damage dome, or to reduce the local price by an amount equal to the diminution in
0
value of said property by reason of such loss or daillago or the aacur.t of insurance
payable to Seller, whichever Is greater.
so
12. FHTNW DCMIN bISHTISSAL. Seller hereby agrees and convents to tht, di Is i
abando - 4ain t ducaln action in the Superior Court of the State of
AL or =ent of any elain
California In and for the County of lA3s Angeles wherein the herein do -scribed
IR-
property is lacludel and also waives any and Lll claims to any Money an deposit In
said action and further gives all attarney'2 fees, cosL9, disbur4ement-i n
a
expenses Incurred in connection therevith.
1; T W 13. POSSM,AND WSPOSITTOM-OF-SMAIROLS RMMME. Possession of real property
shall be given to Buyer upon the recording of Seller's dried. 'All Seller's
furniture and furnishings shall rcult the propert, I of Sallar and Seller shall have
the right at any time to remove or oLherttine dispose of all or any portion of saw,
provided tha: all tensaw occupying the premises t-d
at the tine Seller's Ja is
r recorded shall be entitled to continue to use the furniture and furnishings than
..IVAV V n
7 'It being uoed by then until that VIRCUO each of their 'respiticti.vat apartma to or 'L I L
spacei, and provided that within t,:n (10) days after nctico from Buyer
that the
preolae3l have been vac&ted. Seller will receve or otherwise dispose of all such
"F4
Page 3 of 5
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THE LAND REFERPMD TO IN HIS GU IrjAT..D IN 111E STATE OF CALIFORNTA,
ARANTEE IS S
COUNTY OF 011i CITY OF HUrMINGTON nEACII, AND lb V=6.1LIMM AS FOI.L(:d5f
LJOT 12, D1,DCK 204 0, HUNTINGTO4 011i AS PIR jjAp RECOP.DED IN 13WX 3, PAM 36,
mr3MLANEOV NAPS, IN THE OFFICE L�' TIM COUNTY AZCORDER OF SA
ID COUNTY.
EXCEL - 1`1 ol 01MIWESTERLY 10 FEFT 71IL'EOP-
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