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HomeMy WebLinkAboutMarin County Real Estate Board City Owned Real Property" w 2 AGREEMENT TO ACCOMPLISH (A) LISTING WITH MULTIPLY' LIST TNG DIVISlOi! COUPTY R`iAL ESTATE 60ARD, INC., - - OF CITY OVINED REAL PROPERTY, AND, TB7THE SECURING OF A PURCBASER OR PORCHASE_RS FOR SAID REAL PROPERTY WHEREAS, The City Council of the City of San Rafael, a municipal corporation, acting for and on behalf of said municipal corporation, has found and determined that it will be to the advantage, welfare and best interest of the public to endeavor to accomplish the sale of certain munici- pally owned real property, hereinafter described, upon the terms and conditions hereinafter set forth; and, WHEREAS, in connection with the foregoing and at the request of said City Council, the Marin County Real Estate Board, Inc*, submitted to said City Council, and in cooperation with it, the names of certain of the members of said Marin County Real Estate Board, namely, GEORGE KAENEL, DESMOND MACTAVISH, TED FRAIZE, JERRY STONE and CORWIN REDMOND, of which group the said CORWIN REDMOND has acted as Chairman and spokesman, as a Real Estate Committee to advise and consult with said Council with respect to said proposed sale; and WHEREAS, it is the purpose and intention of said City Council, said Board and said Committee, that the listing E of said property for the purposes of said sale shall be with the multiple listing division of said Marin County Real Estate Board, Inc., and shall not be a listing limited to any single G agent, agency or broker; and 0 z Vj U � 11 Ca WHEREAS, under the rules and regulations of said Marin County Real Estate Board, Inc., it is required, in order to secure such multiple listing of said real property with its said multiple listing division, that this agreement be made with an agent, agency or broker holding membership on said Marin County Real Estate Board, Inc*; and WHEREAS, MAYNARD REDMOND & CO*, acting by and through HAROLD J05. HALEY CICITY OF SANRAFAEL CORWIN REDMOND, is a member of or holds membership with said Marin 1010 19 STREET SAN RAFAEL, CALIF. d TELEPHONE GLENWOOD 8-4388 1 0 County Real Estate Board, Inc.; NOW, THEREFORE, THIS AGREED/ENT, WITNESSETH: For the sole and limited purpose of accomplishing the listing for sale of said real property with the Multiple Listing Division of said Merin County Real Estate Board, Inc., said City does hereby employ said MAYNARD REDMOND & CO., act- ing by and through said CORWIN REDMOND, as its agent, to sell the municipally owned real property hereinafter described. It is expressly understood and declared that said agent is a member of said Merin County Real Estate Board, Inc., and it is further agreed that said agent shall refer this list- ing to said Board, to be by it referred to such of its members as it may deem advisable, but in all events said listing shall be referred to the members of said Board having established places of business in the City of San Rafael, and that said Board or its members may act as other or subagents in procuring, or attempt- ing to procure, a purchaser or purchasers of said real property in accordance with this agreement, and in the event a sale shall be made through any such subagent, all of the terms of this agreement shall apply to such transaction. Any such sale shall be subject to all of the terms and provisions of this agreement, including the following: 1. The minimum sale price for Parcel I hereinafter described shall be the sum of One Hundred Fifteen Thousand and no/100 ($ll5,000.00) Dollars, and the minimum sale price for Parcel IT hereinafter described shall be the sum of Thirty-nine Thousand Five Hundred and no/100 ($392500a00) Dollars, but, said Parcel II shall not, and will not, be sold except and unless said Parcel I is first sold, or said Parcel II is sold concurrently with said Parcel I, provided, however, that offers for the purchase of said respective parcels may be received separately or together; HAROLDJOS. HALEY 2. It is expressly understood and agreed by said CITY ATTORNEY CITY OF RAN RAFAEL 1010 B STREET 2. SAN RAFAEL, CALIF. TELEPHONE GLENWOOD 8-4388 agent, said Board and any such sub -agent, that the sale, if any, of said parcels of real property, or either of them, as, if and when made, must and shall be made under the Charter of said City, by an ordinance adopted by said City Council and, therefore, it is expressly agreed and made a condition hereof that neither said agents said Board nor any such subagent has, or shall have, the power or authority to finally accept any offer or offers for the purchase of said parcels of real property, or either of them, or finally bind the City of San Rafael to any sale thereof, and that all such offers must and shall be subject to final acceptance by said City Council, and any such sale or sales must and shall be subject to final approval and consummation by said City Council, and that said City Council is not, and shall not be, bound to accept an offer of the mini- mum sale price or prices hereinabove specified, if, during the life of this agreement, a higher bona fide cash offer of pur- chase for said parcels, or either of them, is communicated, in writing, to said agent, or said Board, or any such subagent, prior to the final acceptance by said City Council of an offer for the purchase of said parcels, or either of them; nor diall any compensation or commission hereunder be deemed to have accrued, or to have been earned, unless and until (a) An offer or offers of purchase of said parcels, or either of them, has been finally accepted by said City Council, and, the sale or sales resulting therefrom has been finally consummated and the purchase price therein pro- vided for has been fully paid; 3. The sale of said parcels of real property, or either of them, shall be for cash, in lawful money of the United States of America; 4. This agreement and authority shall continue irrevocably for the full period of ninety (90) days from the date hereof, whereupon, and without further action by either HAROLD JO6. HALEY CITY ATTORNEY CITY OF SAN RAFAEL 3 1010 0 STREET SAN RAFAEL, CALIF. TELEPHONE GLENwOoO 9-4388 party, it shall automatically cease and terminate, provided, however, that said City Council may sooner terminate the same if, upon a hearing before said City Council, after five (5) day's written notice given by said Council to said agent and said Board of the time and place of such hearing, finds that the public interest and welfare requires the earlier termination hereof, and, in the latter event, the parties..:shall agree upon a just and equitable compensation to be made for the services rendered hereunder prior to such earlier termination; City agrees to pay as compensation for securing a purchaser or purchasers of said real property hereunder the sum equal to ten percent (10%) of the first Ten Thousand and no/100 ($10,000.00) Dollars of the purchase price and five per- cent (5%) of the remainder of the purchase price in the event of a sale of said parcels of real property, or either of them by said agent, or said Board, or any such sub -agent, or the City of San Rafael while this contract is in force, or if sold within ninety (90) days after the termination of this contract to anyone with whom the said agent had negotiations during the term hereof, provided, said agent has notified said City Council, in writing, of such negotiations, giving the name and the address of the person or persons with whom such negotiations have been had by said agent, all within five (5) days following the termina- tion of this agreement; provided, further, that said single commission or compensation herein provided for as, if and when the same becomes due and payable hereunder, shall be paid to said agent if, in fact, agent actually effects the sale of said parcels of real property, or either of them, and shall be by him disbursed in accordance with the rules and regulations of said Marin County Real Estate Board, Inc., or, shall be paid to said Board if it, or any such subagent, or the City actually effects such sale, and shall be by it, disbursed in accordance with its said rules and regulations. In the event a deposit is HAROLD JOS. HALEY CITY ATTORNEY I1 CITY 0/ BAN RAFACL 4. 1010 B STREET SAN RAFAEL. CALIF. TELEPHONE GLENWOOD 3.4383 forfeited, one-half (112) of the same shall be paid to said agent, Board or sub -agent as hereinbef ore provided for the payment of said compensation or commission, and the remaining one-half (112) shall be retained by the City as the considera- tion for the execution of the particular deposit or sale agree- ment, provided, however, that the portion of any sum so for- feited which, under the terms hereof, becomes payable to said agent, Board and/or sub -agent, shall not exceed the amount of the compensation or commission hereinbefore specified; 5. Evidence of good, merchantable title shall be in the form of a policy of title insurance issued by a reputable title insurance company, to be secured and paid for by the purchaser or purchasers; and insurance, taxes, assess- ments and rents shall be prorated as of the date of closing of the particular transaction or transactions unless otherwise agreed in writing; 6. Said parcels, and each of them, if and when sold, shall be sold subject to any existing lease or leases covering the same. 7. It is and shall be the obligation of the purchaser or purchasers of said parcelj,, or either of them, before the execution of any deed or deeds for the transfer thereof, to have made, at the sole expense of said purchaser or purchasers, a survey of the particular parcel or parcels being purchased, and, at the sole expense of said purchaser or purchasers to supply the exact metes and bounds description to be used in any such deed or deeds upon the purchase of said parcels, or either of them. IT IS FURTHER AGREED that, in consideration of the terms and provisions hereof, the undersigned agent, and every sub -agent undertaking to perform under, or endeavoring to secure thebenefits of, this agreement, agrees to use due dili- HAROLD JOB. HALEY 5. CITY ATTORNEY CITY OF BAN RAFAEL 1010 B STREET SAN RAFAEL, CALIF. TELEPHONE GLENWOOD 8-4888 gence in procuring a purchaser or purchasers under the terms hereof, and immediately to refer this listing to the said Multiple Listing Division of the said Marin County Real Estate Board, Inc. Attached hereto, hereby specifically referred to, and by this reference made a part hereof, is a schedule marked "Schedule Att, in which the said parcels of real property hereinabove referred to are -described, but the said descriptions are not exact, and a survey thereof and exact metes and bounds descriptions must be provided as hereinabove set forth; also attached hereto, solely for the purpose of assistance in identifying and locating the said parcels, and not as exact descriptions or a plat thereof, is a plat marked "Schedule B". IN WITNESS WHEREOF, the parties have executed this Agreement this 11 day of May, 1954. CITY OF SAN RAFAEL, A Muni.:ipal Corporation, BY:1 f 'MAYOR C7//`� ER K K REDMOND MAYNARD & CO. BY; C - - 0 Wz �4 yt_ c- APPROVED AND ACCEPTED: MARIN COUNTY "^L ESTATE BOARD, INC. y- HAROLD JOS. HALEY CITY ATTORNEY 6. CITY OF CAN RAFAEL 1010 B STREET SAN RAFAEL, CALIF. TELEPHONE GLENWOOD 8-4883 SCHEDULE "A" PARCEL ONE (Westerly Portion) BEGINNING at the point of intersection of the Easterly line of Grand Avenue and the Southerly line of Third Street, running thence Southerly along the Easterly line of said Grand Avenue and its extension southerly 434.00 feet more or less to the Northerly line of the San Rafael Canal as described in deed from the San Rafael Development Company to the City of San Rafael recorded April 14, 1934 in Liber 213 of Official Records at page 315, thence along said line S 760 301 30" E 701.87 feet more or less to the Easterly line of Union Street if extended Southerly to its intersection with the Northerly line of said Canal, thence along said line N 150 191 E 354.3 feet more or less to the Southerly line of Third Street, thence Westerly along said line 774.00 feet more or less to the point of beginning. SUBJECT to an Easement for Drainage purposes over a strip of land 10 feet in width lying Westerly adjacent to and parallel with the Easterly line of the above described parcel. PARCEL TWO (Eas e� rfy Portion) BEGINNING at a point in the Southerly line of Third Street which said line would be intersected by the Easterly line of Union Street if extended Southerly across said Third Street; running thence S 150 191 W 354.3 feet along a continuation of said Easterly line of Union Street to the Northerly line of San Rafael Canal as described in that certain deed from S. K. Herzog Company and M. F. Cochrane, et ux to the City of San Rafael and recorded March 10, 1920 in Volume 211 of Deeds at page 440, running thence along said line S 760 301 3011 E 300.00 feet more or less to the Easterly line of that certain parcel conveyed by deed from S. K. Herzog and Company, Alice Cochrane to the City of San Rafael recorded August 27, 1943 in Liber 452 of Official Records at page 107, thence along said line N 150 19' E 292.37 feet more or less to a point on the Southerly line of Third Street, said point being the most Easterly corner of the parcel described secondly in the above lastly referred to deed, thence Westerly along the said Southerly line of Third Street 301.00 feet more or less to the point of beginning. NOTE CAREFULLY: The above descriptions are not, and are not intended to be, exact metes-and,..bounds' descriptions of the said par- cels. Reference is hereby made to the provisions of Paragraph 7, and also the provisions of the last paragraph of the foregoing agree- ment. 7• 690 , �-.+, N _ry "SCHEDULE B."