Puente, Ermelindo and Esperanza H.
..
9FFER m ~~LL REAL P~QPER'tX
The City of Gilroy hereinafter referred to as the UCityll and
Ermelindo Puente and Esp~ranza. H. Puente hereinafter referred. to as
the "Offeror" agree as follows:
1. 'This docume".~ and a grant deed is delivered to Walter 1.
Doyle, or his aqent, by the Offeror for acceptance or return
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b~ the City.
2. 'The property, which is described on the attached Exhibit A,
will upon acceptance by the City be acquired for ~
~WA~,-JF.~ ~l~"Jt~~~llars ($Z:~UJ,(li;) ).
3. 'The property will be conveyed free and clear of all liens
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and encwnbr :Vlces except exceptions numbered two as shown
on a preliminary title report issued by Title Insurance and
Trust Company under Escrow No. GY -320928 lL, dated
February 10, 1969.
4. ~J>tn,~
'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::nary reconveyance fees, trustee's fees, forwarding
fees, or penalty (if any), for payment in full in advance of
maturity incurred in conn\:~ction with discharge of any nota
seeured by a deed of trust or mortqaqe, 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 toqether 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 be condemnation
and flUng 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 conveyed
up to and including the date of recordation of deed. All rents
derived from said property to and including said d.!! 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 La entitled shall forthwith pay sueh 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 porti.on 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 qiven the right
to usign this agreement and its rights hereunder.
Dated: -.r 'l... ~~ -. 1 0
0-i{-70
rf-C if) ,
C;~~-'l~~.. do (1)1 J/\-(f-~l..t(
,.6~/.~ If ~
,
Offeror
Recommended for Acceptance:
'TIlE CITY OF GILROY:
By
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Application ::0. GY-320928
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EXH 1 BIT ,\
All that certain real Dronerty situate in the Citv of Gilroy.
County of Sant:l Clara, State of C~lirornia, descrihed :lS follo1</5:
HEING (l part of T~ancho Lot 2S as said Lot is shO\m upon ~!an ~:o. -;
acconpanying the final yenort of the referees in the Las ^nimas
Rancho Partition Suit, Action ;{o. 5536 had in the Superior Cou'rt.
of the State of California, ill and for the County of Santa Clara,
and more particularly that pnrt of said Lot dcscrihed as follows:
Brcr:;;'dNC.:1t a point in the Southerl;" line of the 20 nere tract
conveyed to Peter Bnsarich hy Deed recorded in the office of the
County P,ccorder of 5anta Clara (ounty, California .in Book 2.16 of
Ufficial r;ecord~, at pare 137, distant thereon South R5~o 41' \',,'est .)~'6.2S
feet from the most Unrthh'esterly corner of the 6.03 acre tract of land
conveyed by Buehler to C8vin hy deed recorded ~!arch 12, ]945 under
said l~ecorder's Serial :\0. 3::J9.103, and runnin,r: thence along the said
Southerly 1 inc of said 20 :Icre tr:1ct SOllth ~80 41' \','cst 0S fect to a
i r 0 n pip c; the n c c ~' 0 U t h 1 0 .>t' 1:1 5 tIS 0 fee t; the nee ~: (' r t h R~) 0 :; 2 I
3()" East to a point 5;outherl~' 1 0 ~41 l:ast of the noint of he['innillp,
and thence Xorth Ie 24' ~est to the point of hc~inning.
EXCEPTINC THEPEFRCW that portion thereof Ivinf' l:ithin J rirht of
\': a y 5 () fee t ,,; ide t a e r 0 S s the f\: 0 r the r 1 y :) 0 fee t 0 f the n re il1 i s c s
hereinabove described.