HomeMy WebLinkAboutResolution No. 5450RESOLUTION NO. 5450
AUTHORIZING THE PURCHASE OF
6.6 ACRES OF OPEN SPACE,
ERIKSEN PROPERTY (A.P.13-141-25)
WHEREAS, the City of San Rafael adopted Ordinance No.1198,
adding to the Municipal Code Title 19 entitled Open Space; and
WHEREAS, on March 20, 1976, the San Rafael Planning Com-
mission recommended the acquisition of certain real parcels of
real estate designated as potential open space; and
WHEREAS, that certain real property said to contain 6.6
acres and commonly referred to as Marin County Assessor's Parcel
No. 13-141-25, hereafter referred to as "the property" is situ-
ated at the end of Lynn Court, San Rafael, California, which is
within an area designated potential open space; and
WHEREAS, the property has been offered to the City for
the sum of Thirty -Five Thousand Dollars ($35,000) as per agree-
ment attached and referenced as "Exhibit A"; and
WHEREAS, the public has had an opportunity to address the
Council on this matter and all other relevant matters considered;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN RAFAEL
HEREBY RESOLVES as follows:
To accept the offer to acquire the property as per agree-
ment attached and referenced as "Exhibit A" for the sum of Thirty -
Five Thousand Dollars ($35,000).
To authorize the Mayor to sign all necessary papers pur-
suant to the acquisition thereof.
I,JEANNE M. LEONCINI, Clerk of the City of San Rafael,
hereby certify that the foregoing resolution was duly and regu-
larly introduced and adopted at a regular meeting of the City
Council of said City held on Monday, the 3rd day of April ,
1978, by the following vote, to wit:
AYES: COUNCILMEN: Miskimen, Mulryan, Nixon and Mayor Bettini
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: Jensen
" �, A - dw_�' -
J NNE M. LEONCINI, City Clerk
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AGREEMENT OF SALE
This Agreement of Sale ("Agreement" hereafter) is made as
of this -�0 day of April, 1978, by and between the City of
San Rafael, a municipal corporation ("Buyer" hereafter) and Jens C.
Eriksen and Birgit Eriksen, his wife (hereinafter collectively called
"Seller").
RFCT_TALS
A. Seller presently owns that certain parcel of unimproved
real property ("The Real Property" hereafter) which contains approxi-
mately 6.6 acres, which is located in the City of San Rafael, State of
California, and which is commonly known as Assessor's Parcel 13-141-25.
B. Buyer and Seller each acknowledge and agree that the
fair market value (as such phrase is defined in U.S. Treasury Regu-
lations►.170A-l(c)(2)) of The Real Property is $45,000 as of the above
written date of this Agreement. Seller is willing to sell The Real
Property to Buyer, and Buyer is willing to purchase The Real Property
from Seller, on a bargain sale basis, as such term is used in Section
170(c) of the United States Internal Revenue Code and Section 1.170-4
(c)(2)(iii) of the Regulations of the United States Treasury Department.
Specifically, Seller is willing to make a charitable contribution to
Buyer of $10,000 of The Real Property's fair market value, and to sell
The Real Property to Buyer for an amount equal to the remaining $35,000
balance of the fair market value of The Real Property.
C. The parties hereto enter into this Agreement for the pur-
pose of evidencing Seller's above mentioned charitable contribution to
Buyer and for the additional purpose of evidencing the terms and pro-
visions of the sale of The Real Property.
AC;RF RMFNT
1. Recitals. Buyer and Seller each acknowledge and agree
that each of the recitals set forth above is true and correct.
2. Contribution. Seller hereby agrees to convey and grant
to Buyer, at such time as is provided below and subject to all of the
terms and provisions of this Agreement, an undivided ten - forty-fifths
(10/45) interest in The Real Property as a charitable contribution pur-
suant to the provisions of Section•170'of the United States Internal
Revenue Code, and Buyer agrees to accept such charitable contribution
so made.
3. Sale. Seller further hereby agrees to sell and grant
an undivided thirty-five_- forty -.fifths (35/45) interest in The Real
Property to Buyer, and Buyer hereby agrees to purchase such undivided
interest from Seller, all in accordance with each and every one of
the following terms and provisions of this Agreement, for a total
purchase price of $35,000 payable in full and in cash on the date
determined in accordance with the provisions of Paragraph 4., below,
for the close of escrow.
4. Escrow. within ten days following the date on which
this Agreement is executed by Seller, Seller agrees to cause an escrow
("Escrow" hereafter) to be opened with St. Paul Title, San Rafael,
("Escrow Agent" hereafter), and to request Escrow Agent to forward
to Seller and to Buyer copies of a current preliminary title report.
Escrow is to close on a date selected by Seller, provided Seller gives
Buyer at least ten (10) days' written notice of such date and such
date is no sooner than thirty (30) and no more than sixty (60) days
following the date on which Seller executes this Aqreement.
5. Title. Title is to be free and clear of all liens, en-
cumbrances, easements, restrictions, rights and conditions of record
or known to Seller (hereinafter collectively referred to as "Encum-
brances"), other than the following: liens securing current and
fiscal year 1978-1979 real property taxes, and similar and dissimilar
Encumbrances which do not materially and adversely_ affect the value
of The Real Property. Seller agrees to and shall furnish to Buyer at
Buyer's expense a standard California Land Title Association policy
insuring title in Buyer, subject only to Encumbrances as set forth
above and standard provisions of such CLTA policy. If Seller fails
or is unable to deliver to Buyer title as herein provided, Buyer or
Seller shall have the right to terminate this Agreement by written
notice to the other party hereto, and upon the giving of such notice
this Agreement shall be void and of no further force or effect.
6. Prorations. Current real property taxes shall be pro-
rated as of the close of Escrow. The amount of any bond or assess-
ment which is a lien shall be assumed by Buyer. Buyer shall pa�7 the
cost of revenue stamps on the deed.
7. Possession. Possession shall be delivered to Buyer on
the close of Escrow.
8. Effective Date. Buyer's execution of this Agreement
constitutes an offer to Seller to accent the above-described chari-
table contribution and to purchase The Meal Property. Unless each
party Seller executes this Acreement and delivers a signed duplicate
original of this Agreement to Buyer, either by personal delivery or
by mail to the address shown below, within thirty (30) calendar days
from the date the Buyer has executed this Agreement, this offer shall
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be deemed revoked and shall be of no further force or effect. In the
event each party Seller executes this Agreement by the thirtieth (30th)
calendar day following the date on which Buyer executes this Agreement,
and this Agreement thereupon is personally delivered to Buyer or is
mailed to Buyer by Sellers, then and in such event this Agreement shall
become effective on such date as each party Seller hereto so executes
it.
9. Deed. The parties hereto acknowledge and agree that, as
above stated, The Real Property has a fair market value as of the above -
written date of this Agreement of $45,000; that Seller pursuant: to this
Agreement is to contribute an undivided ten - forty-fifths (10/45) in-
terest in The Real Property to Buyer as a charitable contribution and
is to sell the remaining thirty-five - forty-fifths (35/45) undivided
interest in The Real Property to Buyer for $35,000 in cash, all as
aforesaid. For the purpose of conveyancing convenience, however, the
parties hereto acknowledge and agree that Seller shall deliver to Buyer,
on the close of Escrow and in accordance with the terms and provisions
of this Agreement, a single grant deed which conveys full fee simple
title to Buyer subject to the encumbrances above mentioned. The parties
hereto acknowledge and agree that conveyance by such a grant deed is for
the purpose of convenience only, and is not to be construed or regarded
as an act inconsistent with the "bargain sale" reality of this Agreement.
10. Time. Time is of the essence of this Agreement.
11. Applicable Law. The parties hereto acknowledge and agree
that in the event any matter arising from this Agreement is litigated
that the laws of the State of California shall be applicable choice of
law.
Dated: April 3 , 1978 CITY OF SAN RAF.AEL
Attest:
A.
JEAADIE M. LEONCINI, City Clerk
Approved as to Form:
HARRY A. CONNICK, City Attorney
40P
A4��? *�g�
By &401
C. PAUL BETTI%ff, Mayor
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ACCEPTANCE
The undersigned Seller accents the foregoing offer and
agrees to sell The Real Property on the terms and conditions therein
set forth. The undersigned Seller has emploved Frank Howard Allen &
Co. ("Broker" hereafter) and .for Broker's services agrees to nay
Broker, as a commission, the sum of $ 2350.00 from and on the close
of Escrow. Seller hereby acknowledges receipt of a copy hereof and
authorizes Broker to deliver a signed coDv of it to Buyer.
Dated: April 30 , 1978
Dated: April 30 , 1978
f
JFNS C. ERIKSEN
BIRGIT ERIKSEN
Lundemosen 12,5450
Otterup
Denmark
BROKER ACCEPTANCE
Frank Howard Allen & Co. hereby agrees to accept from Seller,
from and on the close of Escrow, the sum of $ 2350.00 as and for a real
estate commission, and acknowledges and agrees that it has no other sim-
ilar or dissimilar claim for commission or otherwise with respect to the
transaction evidenced by the foregoing Agreement. J*
d r�
Dated: April , 1978 FRANK HOWARD ALLEN & CO.
By
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