HomeMy WebLinkAbout8/2/2000 - STAFF REPORTS (3) DATE: AUGUST 2, 2000
TO: COMMUNITY REDEVELOPMENT AGENCY
FROM: DIRECTOR OF REDEVELOPMENT
PUBLIC HEARING FOR THE SALE OF 8,250 SQUARE FOOT AGENCY-OWNED PARCEL
TO TONY PELLUM FOR THE PURPOSE OF CONSTRUCTING A SINGLE FAMILY HOME
RECOMMENDATION:
It is recommended that the Agency approve the sale of an Agency-owned 8,250 square
foot parcel at 393 Avenida Cerca in Desert Highland to Tony Pellum, the adjacent
property owner, for the purpose of constructing a single family home
BACKGROUND:
In May, 1998, the City Council and Community Redevelopment Agency listed several
unused properties for sale with a local real estate broker. To date,the City has sold one
parcel and the Agency sold another property under that program.
The subject property in this action is the second Agency-owned parcel to receive an
acceptable offer. It was originally listed for $5,000, the average of the three
competing brokers' estimates of value, but was delisted in 1999 because of a lack
of interest in the site on the part of homebuilders or home buyers. Staff received an
offer of$2,000 from the adjacent property owner, Tony Pellum, in June, 2000. The
buyer owns a home next door and intends eventually to construct a new home on
the site.
Attached is a resolution approving the sale of this property.
UJ HN . RAYM D
rect of Redevelopment
APPROVED:
Executive LOac or
ATTACHMENTS:
1. Resolution Pursuant to Section 37421, et. seq.
2. Legal Description of the Property
REVIEWED BY DEPT.OF FINANCE
1 �,
AGREEMENT FOR PURCHASE AND SALE
OF REAL PROPERTY
THIS AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY
("Agreement") is made this _ day of , 2000_ ("Effective Date"),
by and between the Community Redevelopment Agency of the City of Palm Springs, a
public body, corporate and politic, ("Agency") and Tony and Julie Pellum, a husband and
wife ("Purchaser").
RECITALS:
A. Agency has investigated potential public uses for that certain property
owned by and located within the former Highland Gateway Redevelopment Project Area
(Merged Project Area #1) in the City of Palm Springs and specifically described at Exhibit
"A" ("Property").
B. The Agency has determined, by Resolution No. _that it does not
have a present or anticipated future need for the Property, and is desirous of selling the
Property pursuant to Government Code Section 37420 et seg.
C. Agency has informally assessed the Property, which assessment
reveals a valuation of two thousand dollars ($2,000).
D. On June 9th, 2000, Agency received an offer for the purchase of the
Property from Purchaser for two thousand dollars ($2,000).
E. Agency is desirous of selling the Property to Purchaser pursuant to
the terms and conditions of this Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein and for other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the parties hereby agree as follows:
TERMS AND CONDITIONS
1.1.1 PURCHASE AND SALE OF PROPERTY. Subject to all of the terms, conditions and
provisions of this Agreement, and for the consideration herein set forth, Agency
hereby agrees to sell to Purchaser and Purchaser hereby agrees to purchase from
Agency the Agency's fee interest in the Property, as specifically described at Exhibit
"A", attached hereto and made a part hereof.
2 PAYMENT OF PURCHASE PRICE.
2.1 Purchase Price. Purchaser agrees to purchase the Property from
Agency and Agency agrees to sell the Property to Purchaser for the purchase price
("Purchase Price") of TWO THOUSAND AND 001100 DOLLARS ($2,000.00), payable by
Purchaser as set forth at Section 3.1 below.
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"Good funds" shall mean a wire transfer of funds, cashier's or certified check drawn
on or issued by the offices of a financial institution located in the State of California, or cash.
2.2 Time of Payment. The entire Purchase Price shall be paid in good
funds upon the Effective Date of this Agreement.
3 ESCROW.
3.1 Closing. Closing of the sale of the Property shall take place through an
escrow to be established with a title insurance company selected by the Agency ("Title
Company" or "Escrow Holder"). The Closing Date shall be on or before August 30, 2000;
provided, however, that either party herein may, upon twenty (20) days prior written notice to
the other party and receipt of such other party's consent, elect to extend the Closing Date for
a period of up to sixty (60) days.
3.2 Deposit. Prior to Agency's execution of this Agreement, Purchaser deposited
a non-refundable deposit with the Escrow Holder in the amount of Five Hundred and 00/100
Dollars ($500.00). Such sum shall be released by Escrow Holder to Agency. Upon close of
escrow, such sum shall be applied as a credit to the purchase price.
3.3 Payment of Balance of Purchase Price. No later than ten (10) business days
prior to the Close of Escrow, Purchaser shall execute, acknowledge (if appropriate) and
deposit into Escrow the balance of the Purchase Price, subtracting the Deposit made under
Section 3.2 herein, of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) to
Escrow, plus all additional sums necessary to close the Escrow including, but not limited to,
all closing costs which shall be payable by Purchaser. Agency shall not be responsible for
any costs in connection with the Escrow.
3.4 Purchase Costs. Subject to the terms and conditions set forth herein,
Purchaser hereby agrees to pay all escrow, closing and other Property acquisition-related
costs in addition to the Purchase Price, incurred by the parties herein in the transfer of the
Property ("Purchase Costs").
3.5 Conveyance of Title. At the Closing Date, Agency shall deliver to Title
Company a Grant Deed ("Grant Deed") in the form of attached hereto as Exhibit "B", which
Grant Deed shall convey all of Agency's interest in the fee to Purchaser. Title Company
shall be instructed to record such Grant Deed in the Official Records of Riverside County,
California, if and when Title Company holds instruments and funds accruing to Purchaser
and Agency.
3.6 Conditions Precedent to Transfer of Title. Agency shall not be obligated to
execute and deposit the Deed into Escrow, unless all of the following conditions are satisfied
on or before the Closing Date:
a. Purchaser has deposited into Escrow the funds described in Section 3.2
above;
b. Purchaser has deposited into Escrow the funds described in Section 3.3
above;
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C. Purchaser has deposited into Escrow the funds described in Section 3.4
above;
d. All necessary funds and documentation have been deposited into Escrow
pursuant to this Agreement and the Escrow Holder is irrevocably committed
to close Escrow;
e. Purchaser has satisfied all other conditions set forth in this Agreement
precedent to Close of Escrow; and
f. The Escrow Holder has notified Agency in writing that Purchaser has
satisfied all conditions to Close of Escrow.
Any waiver of the foregoing conditions must be express and in writing. In the event
that Purchaser fails to satisfy the above-referenced conditions precedent, or defaults in the
performance of its obligations hereunder, Agency may terminate this Agreement.
4. EFFECTIVE DATE. This Agreement shall take effect from and after the date (which
date shall be inserted into the preamble of this Agreement) of adoption and approval by the
Agency pursuant to official action of the Agency.
5. NO WARRANTIES: "AS-IS" SALE. Except as set forth in this Agreement, Purchaser
acknowledges that neither Agency nor any of its employees, agents or representatives has
made any representations, warranties or agreements to or with Purchaser on behalf of
Agency as to any matters concerning the Property, the physical condition, the present use
thereof, the merchantability, or the suitability of Purchaser's intended use of the Property.
Agency further acknowledges and agrees that the Property is to be purchased, conveyed
and accepted by Agency in its present "AS-IS" condition.
6. BROKERAGE COMMISSIONS. If, and only if, Close of Escrow occurs, Seller shall
pay a broker's commission to Ingrid Baddour & Associates ("Broker") pursuant to the terms
of a separate written agreement between Agency and Broker. Except for the commission
referred to in the foregoing sentence, Purchaser, Agency and Broker each represent and
warrant to the other parties that no third party is entitled to a broker's commission and/or
finder's fee with respect to the transaction contemplated by this Agreement. Purchaser
agrees to indemnify and hold the Agency harmless from and against all liabilities, costs,
damages and expenses, including, without limitation, attorneys' fees, resulting from any
claims or fees or commissions, based upon agreements by Purchaser, if any, to pay a
broker's commission and/or finder's fee.
7. RESPONSIBILITIES OF ESCROW HOLDER.
7.1 Deposit of Funds. All funds received in Escrow shall be deposited by the
Escrow Holder in an escrow account with any state or national bank doing business in the
State of California and insured by the Federal Deposit Insurance Corporation.
7.2 Notices. All communications from the Escrow Holder shall be directed to the
addresses and in the manner provided in Section 8.9 of this Agreement for notices,
demands and communications between Agency and Purchaser.
627/014oe9—oo01/3204104.1 aO"/25/0 y
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7.3 Sufficiency of Documents. The Escrow Holder is not to be concerned with
the sufficiency, validity, correctness of form, or content of any document prepared outside of
Escrow and delivered to Escrow. The sole duty of the Escrow Holder is to accept such
documents and follow Agency's and Purchaser's instructions for their use.
7.4 Exculpation of Escrow Holder. The Escrow Holder shall in no event be liable
for the failure of any of the conditions to Closing, or for forgeries or false impersonation,
unless such liability or damage is the result of negligence or willful misconduct by the
Escrow Holder,
7.5 Responsibilities in the Event of Controversies. If any controversy
documented in writing arises between Agency and Purchaser or with any third party with
respect to the subject matter of the Escrow or its terms or conditions, the Escrow Holder
shall not be required to determine the same, to return any money, papers or documents, or
take any action regarding the Property prior to settlement of the controversy by a final
decision of a court of competent jurisdiction or written agreement of the parties to the
controversy. The Escrow Holder shall be responsible for timely notifying Agency and
Purchaser of the controversy. In the event of such a controversy, the Escrow Holder shall
not be liable for interest or damage costs resulting from failure to timely close the Escrow or
take any other action unless such controversy has been caused by the failure of the Escrow
Holder to perform its responsibilities hereunder.
8. MISCELLANEOUS.
8.1 Successors. This Agreement shall be binding upon the parties hereto and
their respective heirs, representatives, transferees, successors and assigns. The
obligations of Purchaser under this Agreement shall inure to the benefit of Agency, any
purchaser of Agency, and their respective heirs, representatives, transferees, successors
and assigns.
8.2 Time of Essence. Time is of the essence in this Agreement and with respect
to each covenant and condition hereof. Agency and Purchaser each specifically agrees to
strictly comply and perform its obligations herein in the time and manner specified and
waives any and all rights to claim such compliance by mere substantial compliance with the
terms of this Agreement.
8.3 Time Period Computations. All periods of time referred to in this Agreement
shall include all Saturdays, Sundays and California state or national holidays unless the
reference is to business days, in which event such weekends and holidays shall be
excluded in the computation of time and provide that if the last date to perform any act or
give any notice with respect to this Agreement shall fall on a Saturday, Sunday or California
state or national holiday, such act or notice shall be deemed to have been timely performed
or given on the next succeeding day which is not a Saturday, Sunday or California state or
national holiday.
8.4 Interpretation; Governing Law. This Agreement shall be construed according
to its fair meaning and as if prepared by both parties hereto. This Agreement shall be
construed in accordance with the laws of the State of California in effect at the time of the
execution of this Agreement. Titles and captions are for convenience only and shall not
constitute a portion of this Agreement. As used in this Agreement, masculine, feminine or
627/014084-0001/3204104.1 ao9/25/0
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neuter gender and the singular or plural number shall each be deemed to include the others
wherever and whenever the context so dictates.
8.5 No Waiver. No delay or omission by either party hereto in exercising any
right or power accruing upon the compliance or failure of performance by the other party
hereto under the provisions of this Agreement shall impair any such right or power or be
construed to be a waiver thereof. A waiver by either party hereto of a breach of any of the
covenants, conditions or agreements hereof to be performed by the other party shall not be
construed as a waiver of any succeeding breach of the same or other covenants,
agreements, restrictions or conditions hereof.
8.6 Modifications. Any alteration, change or modification of or to this Agreement,
in order to become effective, shall be made by written instrument or endorsement thereon
and in each such instance executed on behalf of each party hereto.
8.7 Severability. If any term, provision, condition or covenant of this Agreement
or the application thereof to any party or circumstances shall, to any extent, be held invalid
or unenforceable, the remainder of this instrument, or the application of such term, provision,
condition or covenant to persons or circumstances other than those as to whom or which it
is held invalid or unenforceable, shall not be affected thereby, and each term and provision
of this Agreement shall be valid and enforceable to the fullest extent permitted by law.
8.8 Merger of Prior Agreements and Understandings. This Agreement, and
other documents incorporated herein by reference contain the entire understanding
between the parties relating to the transaction contemplated hereby and all prior or
contemporaneous agreements, understandings, representations and statements, oral or
written, are merged herein and shall be of no further force or effect.
8.9 Notices. Any notice which either party may desire to give to the other party
must be in writing and shall be effective (i) when personally delivered by the other party or
messenger or courier thereof; (ii) three (3) business days after deposit in the United States
Mail, registered or certified; or (iii) twenty-four (24) hours after deposit before the daily
deadline time with a reputable overnight courier or service; in each case postage fully
prepaid and addressed to the respective parties as set forth below or to such other address
and to such other persons as the parties may hereafter designate by written notice to the
other parties hereto:
To Agency: Community Redevelopment Agency of the
City of Palm Springs,
3200 East Tahquitz Canyon Way
Palm Springs, CA 92262
Attn: Executive Director
Copy to: Rutan & Tucker
611 Anton Boulevard, Suite 1400
Costa Mesa, California 92626-1950
Attn: David J. Aleshire, Esq.
To Purchaser: Tony and Julie Pellum
385 Avenida Cerca
Palm Springs, CA 92262
627/014oen-0001i3204104.1 .07/23/G
Either party may from time to time, by written notice to the others, designate a
different address which shall be substituted for the one(s) above specified, and/or specify
additional parties to be notified.
8.10 Attorneys' Fees. In the event of litigation between the parties arising out of
this Agreement, the prevailing party shall be entitled to recover its reasonable attorneys'
fees and other costs and expenses incurred in addition to whatever other relief to which it
may be entitled.
8.11 Execution in Counterpart. This Agreement and any modifications,
amendments or supplements thereto may be executed in several counterparts, and all so
executed shall constitute one agreement binding on all parties hereto, notwithstanding that
all parties are not signatories to the original or the same counterpart.
8.12 Due Execution. The person(s) executing this Agreement on behalf of the
parties hereto warrant that (i) such party is duly organized and existing, (ii) they are duly
authorized to execute and deliver this Agreement on behalf of said party, (iii) by so
executing this Agreement, such party is formally bound to the provisions of this Agreement,
and (iv) the entering into this Agreement does not violate any provision of any other
Agreement to which said party is bound.
627/014084-0001/3204104.1 aD7/25/0
IN WITNESS WHEREOF, the parties hereto have executed this Agreement of
Purchase and Sale of Property as of the date set forth above.
"Agency"
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS,
a public body, corporate and politic
By:
Executive Director
ATTEST:
Assistant Secretary
APPROVED AS TO FORM:
Agency Counsel
"PURCHASER"
By:
Its:
627/014084-0001/3204104.1 a07/25/0
EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
The Land is that certain real property located in the Agency of Palm
Springs, County of Riverside, State of California, more particularly described as follows:
Lot 65 of Desert Highland Estates, in the City of
Palm Springs as per map recorded in Book 24,
Page 53 and 54 of Maps, Records of Riverside
County, California.
EXHIBIT "A"
TO AGREEMENT FOR PURCHASE
AND SALE OF REAL PROPERTY
EXHIBIT "B"
GRANT DEED
FREE RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
Order No.
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM
SPRINGS, a public body, corporate and politic, hereby grants to
, a California , the real
property in the Agency of Palm Springs, County of Riverside, State of California,
described in Exhibit "I" attached hereto and incorporated herein, by reference subject to
the existing easements, restrictions and covenants of record thereon, and subject to the
terms of the Agreement for the Purchase and Sale of Real Property executed
concurrently herewith.
"Agency"
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS Agency
OF PALM SPRINGS, a public body,
corporate and politic
By:
Executive Director
ATTEST:
Assistant Secretary
APPROVED AS TO FORM:
Agency Counsel
EXHIBIT "C"
TO AGREEMENT FOR PURCHASE
AND SALE OF REAL PROPERTY
C M-A/,5
T
EXHIBIT "'I"
LEGAL DESCRIPTION OF PROPERTY
The Property is located in the City of Palm Springs, County of Riverside,
State of California, more particularly described as follows:
Lot 65 of Desert Highland Estates, in the City of
Palm Springs as per map recorded in Book 24,
Page 53 and 54 of Maps, Records of Riverside
County, California.
62W014004-0001/3204104.1 a07/25/0
EXHIBIT "A"
TO RESOLUTION
LEGAL DESCRIPTION OF THE PROPERTY
Lot 65 of Desert Highland Estates, in the City of Palm Springs as per map recorded in
Book 24, Pages 53 and 54 of Maps, Records of Riverside County, California.
Assessor's Parcel Number 669-396-005.
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN, that the Community Redevelopment Agency of the City
of Palm Springs will hold a Public Hearing in the City Council Chambers, located at 3200
Tahquitz Canyon Way, Palm Springs, California 92262, beginning at 7:00 p.m., Wednesday,
August 2, 2000, to consider the following:
Sale of Property located
393 Avenida Cerca,
in the City of Palm Springs
All interested persons are invited to attend the Public Hearing and express opinions on the
item listed above. If you challenge the nature of the proposed action in court, you may be limited
to raising only those issues you or someone else raised at the Public Hearing described in this
notice, or in written correspondence delivered to the City Clerk, at the address listed above, at or
prior to the Public Hearing.
Further information, in accordance with Health and Safety Code Section 33433, is
available in the Redevelopment Department, at the above address.
PATRICIA A.SANDERS, City Clerk
PUBLISHED: July 17 and July 26, 2000
RECORDING REQUESTED BY 1 -
CHICAGO TITLE COMPANY +y � f�
AND WHEN RECORDED MAIL TO
S
' CITY OF PALM SPRINGS
L J
Escrow No. 207041554 - F79
Order No. 207041554 - E57 SPACE ABOVE THIS LINE FOR RECORDER'S USE
Assessor's Parcel Number(s) 669-396-005
SUBSTITUTION OF TRUSTEE AND FULL RECONVEYANCE
The undersigned, THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, A PUBLIC
BODY, CORPORATE AND POLITIC
present Beneficiary,as owner and holder of the Note secured by Deed of Trust dated May 4, 1995
madeby COACHELLA VALLEY HOUSING COALITION, A CALIFORNIA NON-PROFIT CORPORATION
as Trustor,to FIRST AMERICAN TITLE INSURANCE COMPANY, A CALIFORNIA CORPORATION
as original Trustee,for THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, A PUBLIC
BODY, CORPORATE AND POLITIC
as Beneficiary,which Deed of Trust was recorded May 16, 1995 as Instrument Number,
158079 in Book ,Page , Official Records of
County, California,hereby appoints and substitutes THE COMMUNITY REDEVELOPMEJ
AGENCY OF THE CITY OF PALM SPRINGS, A PUBLIC BODY, CORPORATE AND POLITIC
as Trustee in lieu of the Trustee therein.
As such duly appointed and substituted Trustee, THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
SPRINGS, A PUBLIC BODY, CORPORATE AND POLITIC
accepts said appointment as Trustee under the above Deed of Trust, and as successor Trustee, and pursuant to the requesR
of said owner and holder and in accordance with the provisions of said Deed of Trust, does hereby RECONVEY,
WITHOUT WARRANTY, TO THE PERSON OR PERSONS LEGALLY ENTITLED THERETO, ALL the estate'
title and interest now held by said trustee under said Deed of trust. Wherever the text of this document so requires, the,
singular includes the plural.
IN WITNESS WHEREOF,the owner and holder above named, and THE COMMUNITY REDEVELOPMENT AGENCY OF��
THE CITY OF PALM SPRINGS, A PUBLIC BODY, CORPORATE AND POLITIC
as successor Trustee,has caused this instrument to be executed,each in its respective interest.
DATE: DATE:
Beneficiary: Successor Trustee:
SEE SIGNATURE EXHIBIT ATTACHED HERETO
SUBRECON -4/7/99- Irc
Page I
Order No: 207041554 -E57
THE COMMUNITY REDEVELOPMENT AGENCY IGNATURE EXHIBIT
THE COMMUNITY REDEVLOPMENT AGENCY
By7 � By:
Assistant Secretary Chairman
GEDSIGST-04/20/94bk
STATE OF CALIFORNIA )
SS.
COUNTY OF )
On before me,
a Notary Public in and for said County and State, personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s)
is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature of Notary
STATE OF CALIFORNIA )
SS.
COUNTY OF )
On before me,
a Notary Public in and for said County and State, personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s)
is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature of Notary
2xrNOT1 --os/zs/sstk -- -
REAL ESTATE REPORTING
SOLICITATION
Date September 21, 2000 Escrow/Order No. 207041554 - F79
You are required by law to furnish your correct taxpayer identification number, and other information to the
"Settlement Agent" as defined in Section 6045(e) of the Internal Revenue Code, for purposes of 1099S
information reporting on real estate transactions. Accordingly, information regarding this transaction will be
sent to the Internal Revenue Service and State Franchise Tax Board. Failure to provide the settlement agent,
Chicago Title Company, with your correct taxpayer identification number could result in civil or criminal
penalties as imposed by law.Should you have any questions regarding the information reporting requirements of
this section,you are advised to consult with your attorney,tax advisor or the Internal Revenue Service.
SELLER'S NAME: (enter surname first)
(1)
(2)
SELLER'S ADDRESS AFTER CLOSE:
(3)
(4)City:
(5)Slate: (6)Zip: 90 /.,,
TAXPAYER IDENTIFICATION NUMBER: (for the name shown at line(1) above) �P �'4
Employer Identification Number: (7)1 5 - 0 U
-OR-
v �j
Social Security Number: (8) _ — _
ALLOCATION FOR MULTIPLE TRANSFERORS
If you are ONE of multiple transferors/sellers in this transaction, you can choose to allocate your individual
share of "Gross Proceeds for 1099S reporting. (i.e. 50% share or interest) Transferors who are husband and
wife at the time of closing,may be treated as a single transferor.Complete one of the following selections:
For 1099S reporting purposes,the allocation to be used on my behalf in this transaction is:
(a) %share of the total gross proceeds
-OR-
(b)The amount of $
NOTE: If, at the closing, there is an unresolved conflict of the allocation
between multiple transferors or the combined allocations do not total 10096
of the reportable gross pproceeds, the settlement aggent must repport the
ENTIRE gross proceeds for EACH transferor on each return ofinformadon
required to be filed.No subsequent corrections or amended 1099S forms will
be issued to the transferors under these conditions.
CERTIFICATION
Under penalties of perjury, I/we certify that the number shown on this form is my correct taxpayer
identification number.
CITY OF PALM SPRINGS
ATTEST:
Bylj Date ( L! LZ O
�Assistant ecretary
By: J`i ""`_ ''�/. Date (2�22��erra
Chairman
SOLICITI --05/27/96bk
f J- P L E I "N
CHICAGO TITLE COMPANY ESCROW# 207041554-F79
475 E.TAHQUITZ CANYON WAY ORD/ABS# 207041554
PALM SPRINGS, CALIFORNIA 92262
SETTLEMENT
DATE: September 25,2000
CERTIFICATION FOR NO INFORMATION REPORTING
ON THE SALE OR EXCHANGE OF A PRINCIPAL RESIDENCE
This form may be completed by the seller of a principal residence. This information is necessary to determine
whether the sale or exchange should be reported to the seller, and to the Internal Revenue Service on Form 1099-S,
Proceeds From Real Estate Transactions. If the seller properly completes Parts I and III, and makes a"yes" response
to assurances (1) through (4) in Part II, no information reporting to the seller or to the Service will be required for that
seller. The term "seller" includes each owner of the residence that is sold or exchanged. Thus, if a residence has
more than one owner, a real estate reporting person must either obtain a certification from each owner (whether
married or not) or file an information return and furnish a payee statement for any owner that does not make the
certification.
Part I. Seller Information
1. Name
2.Address or legal description (including city, state, and ZIP code) of residence being sold or exchanged
393 W.AVENIDA CERCA
PALM SPRINGS, CALIFORNIA 92262
3.Taxpayer Identification Number(TIN)
Part II. Seller Assurances
Check"Yes'or"No"for assurances (1)through (4). A"yes' response means that the statement is true.
Yes No
(1) 1 owned and used the residence as my principal residence for periods aggregating 2 years or
more during the 5-year period ending on the date of the sale or exchange of the residence.
(2) 1 have not sold or exchanged another principal residence during the 2-year period ending on the
date of the sale or exchange of the residence (not taking into account any sale or exchange
before May 7, 1997).
(3) No portion of the residence has been used for business or rental purposes by me (or my spouse
if I am married)after May 6, 1997.
(4) At least one of the following three statements applies:
The sale or exchange is of the entire residence for$250,000 or less.
OR
I am married, the sale or exchange is of the entire residence for$500,000 or less, and the gain
on the sale or exchange of the entire residence is$250,000 or less.
OR
I am married, the sale or exchange is of the entire residence for$500,000 or less, and (a) I intend
to file a joint return for the year of the sale or exchange, (b) my spouse also used the residence
as his ur hei pir.uipai residence Fur periods aggregating 2 years or more curing Lite 6-year
period ending on the date of the sale or exchange of the residence, and (c) my spouse also has
not sold or exchanged another principal residence during the 2-year period ending on the date
of the sale or exchange of the residence (not taking into account any sale or exchange before
May 7, 1997).
Part III. Seller Certification
Under penalties of perjury, I certify that all the above information is true as of the end of the day of the sale or
exchange.
TEST: jv' w V-&
Assistant Secretary CHAIRMAN
RP9620 a/ee F54 PLEASE =.,PLEl'E, SIUN a RETURN
ESCROW CANCELLATION INSTRUCTIONS
TO: CHICAGO TITLE COMPANY, licensed bythe Calif. Dept. of Insurance
750 NORTH PALM CANYON DRIVE, PALM SPRINGS, CALIFORNIA 92262
Phone: (760) 320-7512 Fax: (760) 327-5388
Escrow No. 207041554 -F79 Escrow Officer DIANE STEINER Date December 28, 2000
With regard to the above numbered escrow,involving the real property commonly known as:
393 W. AVENIDA CERCA
PALM SPRINGS, CALIFORNIA
you are hereby authorized and directed to cancel said escrow upon receipt of these signed instructions by all parties
concerned.
It is hereby acknowledged that CHICAGO TITLE COMPANY shall have no,further agoucy duties
or obligations to the undersigned,nor any responsibility to convey title to this purchaser.
You are further instructed that upon receipt of these signed instructions,you are to proceed as follows:
Collected funds deposited in escrow shall be disbursed as indicated and mailed to the respective
parties at the appropriate address, unless otherwise specified:
(a) $ Fnn nn To: TONY PELLUM
(b) $ To:
(c) $ To:
(d) $ To:
(e) $ To: CHICAGO TITLE
for:
Return all instruments, documents and other property, if any, to the respective parties depositing
same and provide copies of these instructions to real estate broker(s) involved.
SHOULD PARTIES HAVE ANY QUESTIONS CONCERNING THE SIGNING, INTERPRETATION OR THE
LEGAL EFFECT OF THESE INSTRUCTIONS, THEY ARE ADVISED TO CONSULT WITH AN
ATTORNEY.
CITY OF PALM SPRINGS TONY PELLUM
BY: BY:
C a ,r
B 4 BY:
city Clark
x
cPPROVED AS TO FORM
ettorney
late L� l� �t7 ,
CE110/04/93bk
ESCROW CANCELLATION INSTRUCTIONS
TO: CHICAGO TITLE COMPANY, licensed by the Calif. Dept. of Insurance
750 NORTH PALM CANYON DRIVE, PALM SPRINGS, CALIFORNIA 92262
Phone: (760) 320-7512 Fax: (760) 327-5388
Escrow No. 207041554 -F79 Escrow officer DIANE STEINER Date December 28,2000
With regard to the above numbered escrow,involving the real property commonly known as:
393 W.AVENIDA CERCA
PALM SPRINGS, CALIFORNIA
you are hereby authorized and directed to cancel said escrow upon receipt of these signed instructions by all parties
concerned.
It is hereby arkpowledged that CHICAGO TITLE C0^9P^,N": shall have no further age ney duties
or obligations to the undersigned,nor any responsibility to convey title to this purchaser.
You are further instructed that upon receipt of these signed instructions,you are to proceed as follows:
Collected funds deposited in escrow shall be disbursed as indicated and mailed to the respective
parties at the appropriate address,unless otherwise specified:
(a) $5nn nn To: TONY PELLUM
(b)$ To:
(c) $ To:
(d)$ To: _-.___
(e) $ To: CHICAGO TITLE
for:
Return all instruments, documents and other property, if any, to the respective parties depositing
same and provide copies of these instructions to real estate broker(s) involved.
SHOULD PARTIES HAVE ANY QUESTIONS CONCERNING THE SIGNING,INTERPRETATION OR THE
LEGAL EFFECT OF THESE INSTRUCTIONS, THE I' ARE ADVISED TO CO^ISULT IA71TH AN
ATTORNEY.
CITY OF PALM SPRINGS TONY PELLUM
BY: BY:
b?2•1 9'awt�., �y
BY:C4L—'1(x�� 1 BY: V d
WV Lak
IPPROVED AS TO FORM
�ttorney
Date l�l2l�l
CEI-10/04/93bk
CHICAGO TITLE COMPANY
IN750 NORTH PALM CANYON DRIVE, PALM SPRINGS, CALIFORNIA 92262
(760)320-7512 Fax (760)327-5388
January 2,2001
REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS
3200 EAST TAHQUITZ CANYON WAY
PALM SPRINGS, CALIFORNIA 92262
Re:393 W.AVENIDA CERCA, PALM SPRINGS, CALIFORNIA 92262
Escrow No: 207041554 F79
Dear Mr. Raymond:
In connection with the above referenced escrow,we enclose the following items:
PLEASE SIGN AND RETURN (RETAIN ADDITIONAL COPY FOR YOUR FILES):
CANCELLATION INSTRUCTION
If we can provide any additional information or answer any questions you may have, please give us a call.
Thank you for choosing Chicago Title Company.
Sincerely,
CHICAGO T'TLE COMPANY
J A % y,,,t_r v0p, '
Diane Steiner
Escrow Officer p ,
o
j
52LTR—0e/22/96bk d
RESOLUTION NO.
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS PURSUANT TO
CALIFORNIA GOVERNMENT CODE SECTION 37421 ET. SEQ.
FOR THE SALE OF AGENCY-OWNED PROPERTY
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs is desirous of
selling certain Agency-owned property located in the City of Palm Springs ("Sale Property"),
located at 393 Avenida Cerca, in accordance with Government Code Section 37420 et seq.;
WHEREAS, the Community Redevelopment Agency is informed that Tony Pellum ("Buyer') has
applied to the City for the purchase the Sale Property;
WHEREAS, the Agency finds that there is no present or anticipated future use of the Sale
Property for public purposes, and that the Sale Property is zoned for single family residential use;
WHEREAS, the sale of the Sale Property is consistent with the City's General Plan;
WHEREAS, the Agency has published notice of the public hearing for August 2, 2000 at 7 p.m.
for consideration of the sale of the Sale Property, pursuant to California Government Code
Sections 37421, 37422 and 37423,
NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment Agency of the City
of Palm Springs as follows:
SECTION 1. The Agency hereby finds that the sale of the Agency-owned property
located at 393 Avenida Cerca, more specifically described as Assessor's Parcel Number
669-396-005, to Tony Pellum, is in the public interest because the Sale Property is zoned
for single family residential development and the Buyer proposes to construct a new home
on the Sale Property.
SECTION 2. The Agency hereby finds that the sale of the Sale Property for the collective
amount of$2,000 is in the public interest and is not below the fair market value of the Sale
Property.
SECTION 3. The Agency hereby finds that no protest was made pursuant to California
Government Code Section 37425 for the sale of the Sale Property, or any protest made
pursuantto Section 37425 was overruled by four-fifths vote of the members of the Agency.
13
SECTION 5. Agency staff is authorized to execute the sale of the Sale Property pursuant
to this Resolution, in accordance with California Government Code Section 37426.
ADOPTED this day of 12000.
AYES:
NOES:
ABSENT:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS,
CALIFORNIA
By
Assistant Secretary Chairman
REVIEWED AND APPROVED:
-2-