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Baty, James N. ., OFFER TO SELL HEAL PROPERTY The City of Gilroy hereinafter referred to as the lICity" and James N. Baty hereinafter referred to as the "offerorll agree as follows: 1. This document and a grant deed is delivered to Walter J. Doyle or his agent, by the Offeror for acceptance or return by the City. 2. The property, which is described on the attached Exhibit A, will upon acceptance by the City be acquired for .EI~~\'r X Jt,v 1'> . / 'tM L"l nil} b fl&lfr KUJ/bAl:..P , Dollars ($ 5?j ~a:J,OO ). 3. The property will be conveyed free and clear of all liens and encumbrances except exceptions numbered one as shown on a preliminary title report issued by Title Insurance and Trust Company under Escrow No. GY - 320935, dated February 10, 1969. 4. Expenses The City shall pay all costs of escrow, revenue stamps, if required and authorized, and title insurance policy expenses. Said escrow costs shall not, however, include usual and custo- mary reconveyance fees, trusteels fees, forwarding fees or penalty (if any), for payment in full in advance- of maturity incurred in connection with discharge of any note secured by a deed of trust or mortgage, which costs shall be paid by the Optionor. 5. This offer shall remain in effect exclusive and irrevocable for 120 days from the date hereof and thereafter until 30 days after receipt by the City of written notice of the Offeror1s intention to terminate this offer. 6. The balance of unpaid principal and interest due on any note or notes secured by mortgage or deed of trust on the real property, and any prepaid penalties together with trustee's fees, costs of recording, if any, shall be deducted from the total purchase price and paid to the persons entitled thereto. 7. At any time prior to the termination of this offer, the City may at its option elect to acquire the said property by condemnation and filing of an action in eminent domain rather than by purchase and conveyance through said escrow. In such event, the Offeror agrees that the judgment for the total amount of damages to be awarded for the taking of said property in fee shall not exceed the sum set forth in Paragraph 2 above. 8. Any and all loss or damage to the real property or any improve- ments thereon occurring prior to the recordation of the deed shall be at the risk of the Offeror. 9. The Offeror shall retain possession of the property to be con- veyed up to and including the date of recordation of deed. All rents derived from said property up to and including said date shall be paid to the Offeror, but all rents paid for occupancy after said date shall be paid to the City. Either party hereto collecting rents to which the other party is entitled shall forth- with pay such amount to the other as is necessary to comply with the provisions of this paragraph. 10. The Offeror warrants that there are no oral or written leases on all or any portion of the property exceeding a period of one month and the Offeror further agrees to hold the City harmless and reim- burse the City for any and all of its losses and expenses occasioned by reason of any lease of said property held by a tenant of the Offeror for a period of more than one month. 11. This agreement shall be binding upon and inure to the benefit of the heirs, successors and assigns of the parties hereto and the City is expressly given the right to assign this agreement and its rights hereunder. Dated: t. -p<~L .~ / ." .-). .J "'/) .~' - /" /'~-'- -/-,.. j)/ Offeror R.ecommended for Acceptance: TIIE CITY OF GILROY: By ?!tFz~<-&~~<-<Y.. .. . ,'."".. Application ~o. GY-320~35 A [XIII81T A All that certain real property situate in the City of Gilroy, County of Santa Clara, State of California, d~scribed as follows: Being a part of Rancho Lot 25 as said Lot is shown upon Map Nc. 7 accompanying the final report of the Referees in the Las Animas Ra.r.cno Part;;' tion Sui t, Ac tion ;'Jo. 5536 had in the Superior Court of the State of California, in and for the County of Santa Claro., and more particularly that part of 5<iid Lot describe,l c.s follows: COI-L\ILKI;.iG at a point in tht:: Southerly line of the 20 acre tract conveyed to Peter Basarich by Ueed recorded in Book 24b, Official Records, page 137, distant thcrt:on South 88041' II/est IU4{1.i'SS f;:;et from the most !\orthwest~rly corner of the b.U3 acre tract of land conveyed by Buehler to Ciivin by deed recorded i,larch 12,1945, under Recorder's Serial hOt 339403, and running thence al:mg the said Southerly line of said 20 acre tract South 880 41' West ~ 7.248 fee t; thence in a Sou ther ly di rec tion to a paint in the lin(J dividing R<:Ll:..ch Lots 24 a~d 25, distant thereer. ;~orth 890 32' 30" East 624.686 feet from the Northwesterly corner cf said Lot 24; rUI:ning thence in an easterly directior.. alo;1g the said boundary line of shid Ranch Lots 24 and 25 97.262 fect; thence in a ~artherly direction to the point of beginning. A1 September 30. 1969 Tltl. 'nsurance ~ Trult Company 10 Wayland Lane Gilroy, Ca"fornla 95020 Re: Elcraw No. CV 320935 J...I N. a.ty Gentlemen: Ple.s. find enclosed our check No. 18026 for $500. Our reprelentatlve, Mr. Jay Holly, hal been negotIating for the purchase of the above property, and It leeml Mr. aaty dell rei th'. amount be pl.ced on depollt. The encloled check reprelents a portion of the agreed total price of $8800. We anticipate Council acceptance of the purchase agreement at their October 6, 1969. meetIng. We wIll then forward the balance of $8300 to you. Very truly yours, ~^ Cecil A. Re Inlch Assistant CIty Administrator CAR:ec Enc I .