HomeMy WebLinkAboutWilliam D Dalton - Dearine N. Dalton - 1988-01-19r '
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AGREEMENT FOR SALE OF REAL PROPERTY BETWLEN
't WILLIAM D. DALTON, DEARINE N. DALTON AND
' rY ,►',' THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
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An Agreement made this _ISM day of 1988 by and J1
between the REDEVELOPMENT' AGENCY OF THE CITY OF, JTINGTON
2
BEACH, a public body, corporate and politic (the "Buyer" or ''ay `'''`,
"Agency"), and WILLIAM D. DALTON, a married man and his apouse
DEARINE N. DALTON (the "SELLERS"), purchase and sale of for the
certain real property situated in the City of Huntington Beach,
California.
WHEREAS TELLERS are the owners in fee of certain realIL
gr, property located in the City of Huntington Beach, California
more fully described as:
ter {tr Lcts 24, 25, 26, 27 and 28 of 'Tract No. 417, x1} � ►
shown o ma recorded i o0 16 e 4 �I {
r�
r , , + ,. J,� �...,.• Ct. r,', iS a s s wn n as .p r n 8 k , page 1
of Miscellaneous Maps in the Office of the
County Recorder of Orange County, and
,'� `'. �'i/ �- +,', i ,'• 4 �, WMI-ZAS, BUYER desires to purchase said property ( the
"Subject Property") for cash and SELLERS desire to sell
property to the Agency:
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r1 j�d�r;i�i, �'tinl'Y�r, J + t •' '• '��t't�ig,.��,{; r�'i+�'t� .�
NOW THEREFORE, the parties agrea as follows: `trA
1. CONDITIONS PRECEDENT TO CONTRACT.
.,- -J
+:. (i{) This agreement shall be subject to execution of a
yi' rt Release and Assignment Agreement by Cunningham-•Barisic
Development Corporation ( Assignor ) to BUYER of all its right,
S,Le ��+1'`"•fir., title and interest in any Purchase Agreement or the Joint
'A7 r Escrow Instructions dated December 21, 1987 (Escrow #I-12635)
between SELLERS and Cunningham-Barisic Development Corporation
(Assignor) regarding the Subject Property.
This agreement shall also be subject to releaser z
of any interested party by virt.!e of .the covenants, conditions
� and restrictions set forth ii Book 106. page 260 and Book 480,
page 103 of the official records of Orange County, and Book
540, page 26 of deeds. Said releases shall be in a form to be '
approved by the Agency Attorney. rx
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? ` 1i`I 1 1 '2 �' The purchase price for tha real property is 7SO,000 Is , ;;,
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' . '' 1'4711 (Seven Hundred Fifty Thousand Dollars A $lU, 000 good faith {{ -
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' de lnsit which shall bs applied as part et the Purchase Pries, "111` "���
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shall be paid by BUYER to escrow wi.tt-.in five days of BUYER r ti; - `� :' %
(y rt ;, ;41 : (+ approval of this agreement. It is understood that the payment ; ' ',- sr)�, .�I
j +s,r''; �, L of this good faith deposit is conditioned u on the com lc:tion of y s ;F
p p ,* �' y`;r ,
} this ay�'eement and that if for any reason the agreement is . .
Y ?, (�.. 1Lr
'( G,,. terminated, the Escrow Holder shall return said deposit to the r r 4'
C , t �.( 'BUYER. t l 1 t.1 r./t4 .y it
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t t ` 3 . ESCROW. � , ,' ; I ,}` .
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. ! ';� , f SELLER and BUYER agroc3 to a en a nek escrow with Firt3t F{ j +, j ;
r ?4 American Title Insurance Co. or another escrow comprny ip 't' , + `," :, T'
`.. J! t I. " 5, acc.p I-- Q to BUYER. SELLER and BUYER agree to execute all ,�i>,,� ?:h (`.? 1 ,1 �, � i
;" t' .)t escrow ingtxuction8 and amendments and do all things necessary t,r',.,,
fr I t
;It,, to complete said escrow in total conformance with the instant F
r' i
i,i E;, t.- agreement. F i'
i
f ', r ,'-, r t 4. CONDITIONS OF CLOSING. " '
ST '; �i ;
:rr. I �� ' 1 'y`t
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�, ,+' ,J ? ! `'1;x 1;�� . The close of escrow is cononed upon: 1Gr.a� i A `,1 r iy
If ,,,"I, ,�r" t o : + 1 .- ,A•
+ j n
t t ' +► ` + (a) Conveyance to the City of good and ?;
i� ri
+ �. r , t 'r ,,,i f, L: ii ''�
,,,r,;.�( ,,- •I m�.iketable title subject to Lhe approval of
K the Aycncy Attorney.1�g1?-K}
S. } C 4 r I r I i ':.Y C r r tr.? ' v a ,'.
''~°�}9, ' Y V. • (b) Delivery o£ CGTA (California Land Title Yt �'
( I r '} 4 (l:.(11;r r.t' t�.','t,,• ! fi1 ('7
,t N : K, �, Association) t�tle insurance policy in the ,, ,
", , t `r `�' ` .`i'Ij" amount of the full=purchase''vrice subject onl 1. tr�-4
Y _W Ilia.
f' . ,' r i; �� to such liens, encumbrances,• clouds, or hit=;
1_ t ',�'; '; ', , `�`. conditions as may be approved in writing by
�;ir,e'Y
Ii., '
�, y, t:ie Agency Attorney 1, IF r
r r 1 �. , . ,� n%.r.
tJr.-1 ,+ice ,I",r .`iT
rF i s r, y rltJ ' 1: r� l ; i
711; , 1 . 1, +/ ,� (c) Delivery o£ possession of said property ,�
It -� '., ; J i- ," '.. '., to Buyer or its nominQe, inunediately on close �• '�:t{
` "'`' `I ,Y_',{ k .' ' of escrow free and clear of all uses end +} ti
It
, ,'.V i •�I I : tti ti ;;,t Occupancies except as BUYER may waive in
E (. �: writing.
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y f ' ,� .i
I,'��,`ti3=�+� `f'`�!' d The escrow shall close within 30 days of '
'r ,� 'rsKl , >, r
A ,•, It„ ,�.�. both the ;execution of this agreement by BUYER i�t
"•''` ''�+;;;���,lr' 1x. ��f ?'`� and t2ie satisf�sction of the conditions :
�`�' ° i'it "F `'(' ` recedent in Section 1 of this Agreement. I+ I:} y�
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r, ,ii J iS , I J rY f" 4 V,II 4
1 .<rci�c4F{'rr"..J..�r�;.�l .Y,,t� S. FAILURE OF CONDITYONS. � f„,i
}f` r..y (•c,♦iY'aNs, fir. ,� ,
{} i r ��1,,2r'
l S4 a ,a + v7 , r '
", ;h� ArJ��ir ;' I, Should any of the conditions spec; Pied in Paragraph 4 �, 15
y 1< �� t �,'t,• i. �' Contract fail to occur within 60 days after the dater
,.�. t JJ' of .;thi.�
�;.��/1r�����r :t'x s, •,.``,, �-:. her., i3UYER AND SELLER shall have the power, exercisable by � (,'t-';'
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