Fuentes, Polito and Nuemi
...
OFFER TO SELL REAL PROPERTY
The City of Gilroy hereinafter referred to as the "Cityll and Polito
Fuentes and Nuemi Fuentes hereinafter referred to as the "Offeror"
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
Ci ty.
2. The property, which is described on the attached Exhibit A,
will upon acceptance by the City be acquired for TWELVE
THOUSAND FOUR HUNDRED DOLLARS ($12,400.00).
3. The property will be conveyed free and clear of all liens and
encumbrances except exception number two as shown on a
preliminary title report issued by Title Insurance and Trust
Company under Escrow No. GY - 320929, 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, trustee's fees, forwarding fees, or
penalty (if any), for payment in full in advance of maturity in-
curred 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 Offeror's
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 IS
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 con-
demnation 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 tctal
amount of damages to be awarded for the taking of said pro-
perty 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 im-
provements 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
aiter 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 reimburse 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:
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Offeror
Recommended for Acceptance:
THE CITY OF GILROY:
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CY-32U:J29
EXHIBIT A
All that certain real property situate in the County of Santa
Clara, state of California, described as follows:
BEGINNING at an iron pipe in the Southerly line of the 20 acre
tract conveyed to Peter Basarich by Deed recorded in Book 246
of Official Records, page 137, Santa Clara County Records,
distant thereon South 880 411 West 471.25 feet from the most
Northwesterly corner of the 6.03 acre tract of land conveyed by
Buehler to Cavin by Deed recorded March 12, 1945 in Book 1243
Official Records, page 375, and running thence South 10 24'
East 458.96 feet to a point in the common line between ranch Lots
24 and 25 as shown upon the Map herein referred to; running
thence along said line common to Lots 24 and 25, South 890 32'
30" l..Jest, 95.666 feet to the Southeasterly corner of that certain
1 acre tract of land conveyed by F. Camarillo and G. Camarillo,
his wife, to Cayetano Aguilar and Maria L. Aguilar, his wife,
by Deed dated May 14, 1946 and recorded June 13, 1947 in Book 1477,
Official Records, page 552; thence along the Easterly line of said
1 acre tract so conveyed to Aguilar, North 10 241 West, to a
point in the Southerly line of the said 20 acre tract conveyed
to Peter Basarich above referred to; thence along said Southerly
line North 880 411 East 95.652 feet to the point of beginning,
containing 1 acre of land, and being a part of Rancho Lot 25 as said
Lot is shown upon Map No.7 accompanying the final report of the
Referees in the Las Animas Rancho Partition Suit, t1.ction No.
5536 had in the Superior Court of the state of California, in
and for the County of Santa Clara.