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HomeMy WebLinkAbout00056C - MCCALLUM ACQUISITION (NEVER SIGNED) McCallum Acquisition of 9,660 sq ft land on SW crnr of Amado and N. Palm Canyon AGRACQUISITION AGREEMENT Res 168, Res 11-2-83 This Agreement is entered into this day of by and between the REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS (the "Agency") and Bank of America National Trust & Savings Association, a National Banking Association, (the "Seller") . Recitals A. The Agency is a public body, corporate and politic, organized and existing under the California Community Redevelopment Law (Health and Safety Code Section 33000 et seq. ) to carry out the Redevelopment Plan for the Central Business District Redevelopment Project, adopted by the City Council of the City of Palm Springs on July 11, 1973 by Ordinance No. 952. B. The Seller is the owner of certain real property in the Project area. �Jp1 THZS AGREEMENT WAS A PART OF Agreements AGENDA FOR MEETING OF 11-2-83 THE SELLER AND THE AGENCY AGREE AS FOLLOWS: I BUT WAS NEVER SIGNED BY EITHER ' PARTY. SEE COPY OF DEED #15 ' 1 . Agreement to Sell and Purchase lit_ C ------------------ c Seller agrees to sell to Agency and Agency agrees to purchase from Seller, upon the terms and for the consideration set forth in this Agreement, that certain real property (the "Site") described in Exhibit A attached hereto and incorporated herein. 2. Acquisition Price The total purchase price for the Site shall be the sum of One Hundred Seventy-Five Thousand Dollars ($175,000) (the "Acquisition Price") . 3. Escrow Within thirty (30) days from the execution of this Agreement by the Agency, the Seller and the Agency shall open an escrow with Palm Springs Escrow or any other title company in Palm Springs, California (the "Escrow Agent") approved by the Agency and the Seller. This Agreement constitutes the joint escrow instructions of the Agency and the Seller, and a duplicate original of this Agreement shall be delivered to the Escrow Agent upon the opening of the escrow. The Agency and the Seller may furnish to the Escrow Agent any additional escrow instructions in writing which are in conformity with this Agreement and which are mutually satisfactory to both parties. The Escrow Agent hereby is empowered to act under this Agreement and shall carry out its duties as escrow agent hereunder. The Agency shall deposit the Acquisition Price for the Site in escrow with the Escrow Agent. The Agency shall also pay in escrow the fees, charges and costs connected with the escrow as specified in Section 6 of this Agreement. The Seller shall timely and properly execute, acknowledge and deliver a deed conveying to the Agency title to the Site in accordance with the requirements of Section 4 of this Agreement. Upon delivery - of the deed to the Site by the Seller and deposit of the Acquisition Price by the Agency, but in any event no later than thirty (30) days after the opening of escrow, the Escrow Agent shall record and deliver said deed, and title to the Site shall be conveyed to the Agency. Except as otherwise provided herein, insurance policies for fire or casualty, if any, are not to be transferred and Seller agrees to maintain all current fire or casualty policies in force until close of escrow, at which time Seller may cancel said policies. The close of escrow and the obligation of any party to purchase or sell the Site pursuant to this Agreement is conditioned upon the conveyance to the Agency of good and marketable title to the Site, as evidenced by a standard form C.L.T.A. title insurance policy in the full amount of the Acquisition Price, issued by First American Title Insurance Company or some other title insurance company satisfactory to the Seller and the Agency. Said title insurance policy shall be subject only to such liens, encumbrances, clouds or conditions as are consistent with this Agreement and are approved in writing by the Agency. The Escrow Agent is authorized to pay and charge the Agency and the Seller for any fees, charges and costs payable under this Section 3 and Sections 5 and 6 of this Agreement. Specifically, the Escrow Agent is authorized to: (a) Pay and charge Seller for any delinquent taxes and any penalties and interest thereon, and for any delinquent or non-delinquent assessments or bonds against the Site; and (b) Pay and charge Seller for any amount necessary to place title in the condition necessary to satisfy Section 4 of this Agreement. In addition, the Escrow Agent is authorized to disburse funds and deliver the deed and other documents to the parties entitled thereto and to record any instruments delivered through this escrow if necessary or proper to vest title in the Agency in accordance with the terms and provisions of this Agreement. 4. Condition of Title The Seller shall convey by Grant Deed to the Agency marketabe fee simple title to the Site. Except as herein provided, title shall be free and clear of all recorded or unrecorded liens, encumbrances, covenants, assessments, easements, leases and taxes. 5. Taxes and Assessments Ad valorem taxes and assessments, if any, on the Site levied, assessed or imposed for any period commencing prior to conveyance of title shall be borne by the Seller. All ad valorem taxes and assessments levied or imposed for any period following conveyance of title shall be the responsibility of the Agency to pay or cancel by appropriate proceedings. If the applicable tax rate is then unknown, the proration shall be based upon the real property taxes for the preceding fiscal year. 6. Expenses of Escrow Except as otherwise provided herein, the Agency shall pay in escrow to the Escrow Agent all fees, charges and costs connected with the escrow, title insurance and conveyance including, but not limited to, the escrow fee, the premium for the title insurance policy, costs of preparing and executing the Grant Deed, recording fees, notary fees, any state, county or city documentary stamps and any transfer taxes. Any costs of obtaining reconveyances under encumbrances or removing_, clouds on the title, and recording fees in connection therewith, shall be borne by Seller. 7. Occupancy by Seller or Tenants Except as otherwise provided herein, the Site shall be conveyed to the Agency upon the close of escrow, free and clear of any possession or right of possession by the Seller or by any tenants, sublessees, assignees or transferees of the Seller. In the event that the Seller desires to continue to occupy the Site after conveyance of title, such occupancy shall be conditioned upon the execution of a rental agreement satisfactory to the Agency wherein the Seller agrees, inter alia, to maintain the premises, to continue insurance policies on the Site, and to cause no liens or encumbrances to be placed upon the Site. Continued occupancy by the Seller or any tenant or any other person for any period of time following the conveyance of title to the Agency shall require the written approval of the Agency under all circumstances and is not automatically granted hereunder. 0 (Seller warrants that there are no tenants occupying said premises under any periodic tenancy, tenancy by will or any oral or written agreement and agrees to hold Agency harmless from any such leases or agreements. Seller further agrees to hold Agency harmless and reimburse Agency for any and all of its losses and expenses occasioned by reason of any lease of the Site by any tenant of Seller. ) (In the event that a tenant, sublessee, or assignee desires to continue to occupy all of any portion of the Site after conveyance of title, such continued occupancy shall be conditioned upon the execution of a rental agreement satisfactory to the Agency. In addition, the Seller shall : (a) Deposit in escrow any advance rental payments paid by a tenant, sublessee or assignee to the Seller, which amounts shall be prorated as of the date of close of escrow, and the Escrow Agent shall pay the respective amounts to the Agency and the Seller; and (b) Assign to the Agency the right to collect all future payments resulting from the rental of the Site. ) 8. Permission to Enter on Site Prior to the convenyance of title, Seller grants to the Agency, its authorized officials, agents, employees, contractors and contractors' employees the right of access to the Site at all reasonable times for the purpose of obtaining data and making surveys and tests. All such work performed on the Site by the Agency shall be at the sole expense of the Agency. The Agency shall hold the Seller harmless for any injury or damages arising out of any activity pursuant to this Section 8. 9. Right of Termination by Agency Prior to Conveyance In the event that the Seller does not tender conveyance of title to the Site in the manner, condition and time provided in this Agreement, and any such failure is not cured within thirty (30) days after written demand by the Agency, then the Agreement shall , at the option of the Agency, be terminated by written notice thereof to the Seller. (Furthermore, in the event any of the improvements on the Site are destroyed or substantially damaged, and the cost of restoring such improvement to the condition it is in at the date of this Agreement exceeds thirty (30) percent of the Acquisition Price, then the Agreement may, at the option of the Agency, be terminated by written notice thereof to the Seller, and neither the Agency nor the Seller shall have any further rights against or liability to the other except as otherwise provided in this Agreement. If the Agency elects not to terminate the Agreement as herein provided, the Acquisition Price shall be reduced to reflect the value of the Site at the time of conveyance. ) 10. Right of Termination by Seller Prior to Conveyance In the event that the Agency does not pay the Acquisition Price and take title to the Site under tender of conveyance by the Seller and any such failure is not cured within thirty (30) days after written demand by the Seller, then the Agreement shall , at the option of the Seller, be terminated by written notice thereof to the Agency. 11 . Acquisition Under Threat of Condemnation This acquisition is being made under threat of condemnation by the Agency which is a public agency having the power of eminent domain pursuant to the California Eminent Domain Law, the California Community Redevelopment Law and the Redevelopment Plan. The Seller recognizes that the Acquisition Plan is in lieu of any and all compensation, damages and costs including relocation costs to which the Seller might be entitled if the Agency were to proceed to acquire his property by eminent domain. 12. Notices and Comunications between the Parties Formal notices, demands and communications between the Agency and the Seller shall be sufficiently given if dispatched by registered or certified mail , postage prepaid, return receipt requested, to the addresses of the Agency and the Seller set forth below: -. Agency: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS ATTN: NORMAN R. KING P. 0. BOX 1786 PALM SPRINGS, CALIFORNIA 92263 Seller: BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION ATTN: FRED INGRAM 2355 TAHQUITZ-McCALLUM WAY PALM SPRINGS, CALIFORNIA 92262 Written notices, demands and communications may be sent in the same manner to such other addresses as either party may from time-to-time designate. 13. Conflict of Interests No member, official or employee of the Agency shall have any personal interest, direct or indirect, in this Agreement nor shall any such member, official or employee participate in any decision relating to this Agreement which affects his personal interest or the interests of any corporation, partnership or association in which he is directly or indirectly interested. The Seller warrants that it has not paid or given, and will not pay or give, any third person any money or other consideration for obtaining this Agreement. 14. Binding on Successors The terms, conditions, covenants and agreements set forth herein shall apply to and bind the heirs, executors, administrators, assigns and successors of the parties hereto. 15. Brokers ' Commissions Neither the Seller nor the Agency shall be liable for any real estate commissions or brokerage fees which may arise from this Agreement. The Seller and the Agency each represent that it has engaged no broker, agent or finder in connection with this transaction. 16. Entire Agreement This Agreement constitutes the entire understanding and agreement of the parties. It integrates all the terms and conditions mentioned herein or incidental thereto and supersedes all negotiations or previous agreements between the parties with respect to all or any part of the subject matter hereof. 17. Time for Acceptance by Agency This Agreement, when executed by the Seller and delivered to the Agency, must be authorized, executed and delivered by the Agency within thirty (30) days after the date of signature by the Seller or this Agreement shall be void, except to the extent that the Seller shall consent in writing to further extensions of time for the authorization, execution and delivery of this Agreement. The effective date of this Agreement shall be the date when the Agreement has been signed by the Agency. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION Date: By "SELLER" REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA Date: By Chairman "AGENCY" ATTEST: Secretary ' Exhibit A Legal Description of the Site Lots 1 , 2, and 3 in Block 22 of Palm Springs as shown by Map on file in Book 9, Page 432 of Maps, San Diego County Records. F ; +'9 Ya INS" 'IIC'I IUN:; AHIiNO /\NI1 Slll'IiI1CI.Ul'. INS' ( 'I'IHNS RATI!U UI'.f'1(HIl12R 27, 1983- - - -- - - - - -- -- - _ ESCROW INSIHIJCTIUN6 nwHu 1 (I(IId i0; i72 PrIJ19d CidC2'p!.% 1:010PAIVY- 157030 PAun CANYON UR -MAN M. BNA, POST OFFICE 13OX 2161 PALM SPRINGS,Gn 92280 p . Janu❑ry 1 2 , 1 984 PALM SPRINGS, CALIFORNIA 92:163 (619) .120!467 - - 1 I-I,�, j0 January (O: , 1984 - - ------ --- --------- � ' - - Ili I , will hand yulr MEMO 2, s]-7,�,00t1. 00 I11uS Sufficient 1lI111r15 (o rover• 3 ALL SELLERS $ BUYERS CLOSING COSTS and this c°""ia ''1001 Iiliil uueiib• iil L�i'rw 6 um is herebyd 1i with you as Pscrow - - 4 s---=------ --eIDstecl r.r•.li uiririiljli E�,i nrw 17 , 5 Holder this dace in the Form of, Curl i I ic<I s eon. oo- -- --- ---- ------ - - I Inn) Dl i•il nl Her unl 6 and any funds and Instruments necessary for n1i�l�rE'r�ngrly will) GI1''1'-C1, iC to ituYcr, from k17,000. g0 (set. e 7 these Instructions, which you ar to use province you ran have -a Issuedthrou h - Lod Deed lit Roroul Sol Ior 1Tn , 31i s --1st Amcri a] -I'it l c CD_ .a CLTA -- s222,000.00. elcw) 9' ----014nfl'�`---- - -- ... sla ndard covenrgc policy Total Considera tion _ - __ 10 cl title lnsurancevvah the liability for the consideration untie following described r eel pnlpmly in the Git�nl_1�"11171 �pn 1a �,�-_ 11 County of .Rives-side State W California _. LOTS 1, 2 ❑rid 3 i❑ BLOCK_22 of City of _ 12 -____-----1'a1m,.gpringS_as Per map recorded ill Book 9. Page 432 of Sao_Iliogo .tounty,__._-_ 13 _ _-_. -in records in office of C0LLItY RecorClcr' IMF RivL,'rside County14 - ---- 15 r in the office of the Recorder of said county, 16 showinglnlevesledin _COMMIINLTY REDEIIELOPMLNT AGENCY OP 111L (:i'1'Y DP PALZ1SPR NG5, utuldy_ 17 ___-- ---- ----- _-cnrpoTatc_and_�loliti.c _ -- - - - ------ 19 Subject to, It now of record General and special taxes and special dnull,l Iavlirs not delinquent, covenants, conditions reserva 20 tons (including exceptions of oil, gas, minerals and hydrocarbons, without sight of surface unity), restrictions, rights, rights of way 21 and easements(Or public Utdnies,distncts,water rompa nuns,alleys and slreots, ally honds alld/Dr BLS tiL'SSIIIL'L1LS_llOw._.fll__ 22 .rQCDrd_(if any) LID- Ilepu.id from Sellers funds. _ 23, N/A Now of record Trust Deed snr.uung note Willi principal i,ldni e, of , - --- :-__--,p,_._-___,_. ,(but if Beneficiary 24 Statement balance ddfois then:hom. the Intel consoieration is to renra n the same by your accordingly adjusting [the cash) or 25 {2ed-T-0HHwughEserow{ 37 N/A To record Trust Used securing note for S -_---_ __ __ _ __ __ ____ _ both executed by above vestee, in favor of 28 29 30 _ ______ - _ __.__ rnh:rL~Y -Irnnr -_- _ _._ _ __ ___ ____._______ _ _ __.___ferdc9P Flute 31 to recer�e-Irrieresi-from c.._.___ _ I-at-the-rnta_cd=c-.. __ .per ernl-prr __________prtnerel-ad- pnInvenrst-6 ___ __-� r = -w inele-m-Ihe____----da 3 ____—_____ _—_— y-of-etch—___________ 33 mom h,-beg inn mg on-t+ie r_-..-=----duq -.--_-39---and-eonnnumq-u1111--41he pnneipal-and- 6lteresl-have-been-paid 34 35.2 ny�_llo cr js-ulsLurcLecL To. DL131T SLLLCI2_anl] Chla)1'1' B111'RR w-Lth_$47_00(j_Lltl_(�QR'P'- 36 --SFAIFN _TIIDLISNLI_I)OLLARS as a GIFT from SELLER to BUYE11_to- Uc a.pplicd 37 rnnsidcl'atinu 'I'his_gi_fLnlaJ.c. hy..tllc AlcCal]urn-llesccL. IOIau<l.it_i.nl _I.xu�_. on-,lam- 1�1-�19F, 1 38 _�n._reflact__t11c appraised va.luc of tho real prupect y as Of 12-L-82_:Lt- ,$222,U0U,.00_.—.- 39 __UILS -LS .AN_AL,L_C SI1_'I'ILUISAC'1'ICIN 1V11LRCLN. BUYL11 IV1LL LUIOSIT ALL- CRS1L __-__. 40 _. 41, ___BllYM_1S-TD_1'_AY ALL CLOSING COSTS FOR BOTH BUl'E11 AND SELLL11 iaciudin.g_ tit.Lr�cenrp:,n�- 42 __rll;.tr�t;s ansL.tstrnw_Lnmpally charges. BUYEILto pay arty linnets, licnsoL_;jssrsslncu_t�-_ 43 -roCord ❑rid. proper_Ly tuxes Shall_he_ pro-r..Itr:d us _of_--he__c_1nsc: -OE-cscr�tw_ 44 --------------- - - __ 45 _Esc1701>v .1101dci• is_i1LlCurted t.o_ Snbnlil copy of uxecuLud Guu1L Deed. tn__G.iLy aF� 1rrL--- 46 Springs for. apprnval priol- I:o the close VC escrow. 47 - - -- - --- 48 49 50 51 -- - -- --- ------- -- - --- 52 - --- - 63 54 55, Make only the following prorations anlf adl List omits mdiratcd by an"X"osuf r,luse of CSCro1N_ 56 (Xd Taxes ( 1 Fen Insleance Pn;mtlI'll I I Inlrii••d sin (rust Deed of Renard 57 ' l ) Rents ( ) Mortgage Iusmanr c Reuuunt ( I bnpuu nil Acco Lint 56 GO F ire lnsurancepol icy Io cove r fit esinpnlvemenIs oil p rope rtydescr bed aboveorui ow,Ids 62. I, Seller, agree to fir: foregoing Inslnmtons ,rod prior to the said data will hund you any funds and Instruments necessary for me to 63 comply therewith provided you hold the Rinds and mstrrnrents dellverilb Ie to me Pay any encumbrances necessary to place title in 64. the condition called lot, pay docummvdry transfer lax on deed In the dnwuir of s 65. also, the following ._.__----- nUYER AND SELI ER HAVE READ AND-AGREE 10 THE GI_NERAI PROVISIONS PRINTED ON THE REVERSE Seller's Signature BAKK_OF AMERZA NATIONAL- TRUST Ruyor'sSignatine (a)1`i[.VJNITY_.lIGIMrEADEMLNT_AGLNCY__a_ AND SAMC_S-ASSOCIATIDN,_ A- NATIONAL THE CITY OF I'Ai,lit- SPRFNfiS.,_._iL_hsrciy corlijani 1}Q KINL-A SOCIAION:_ .IDSIlPII 7'. C1AN0 (Cie- _ -. ---_ ---_poLAic- --------- Cellsed)-- tlnd__LLON- PARBLA as Co-Trustcos Street Address UNDFPL 111E_JVALL OP_PHARI, lil, SucetAddm•,, - ---- --- -- vandzip HC TL US, _Clcccascd - Cilyandzij, P.H. 130G1iRT, Cha i roan - -- --- I __ B 111 !� .I 4 leluphune A,h Sl:7-1/Ir t'-I'reti. n ni nn6rn nr I I'f 1�I n•1 Ut,ll 'I'rll cr ,•n - • CERTIFICATE OF ACCEPTANCE • THIS IS TO CERTIFY that the interest in real property conveyed by deed dated January 12, 1984 from BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, A NATIONAL BANKING ASSOCIATION: JOSEPH T. CIANO (deceased) AND LEON PARMA, AS CO-TRUSTEES UNDER THE WILL OF PEARL M. MCMANUS, DECEASED Grantor, to the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a body corporate and politic, Grantee is hereby accepted by the Executive Director of said Agency, on this 2nd day of February, 1984, pursuant to authority granted by the Agency by Resolution 168, November 2, 1983 and the Grantee consents to the recordation thereof. Dated at Palm Springs, California, this 2nd day of February, i984. �„gerF�� LYl NORMAN R. KING ' Executive Director Order No 164 1001 �t Escrow No. 100]4 � a J as d; Loan No. 6Y W � :.� CC (J oFz 9� T<S a O G © qH z Br w CO Y' G- UaZ> ur WHEN RECORDED MAIL TO: �y G � at ,� COMMUNITY REDEVELOPMENT AGENCY, CITY W <w o a w OF PALM! SPRINGS W a L.L. �¢ ATTN: City Clerk P.O. Box 1786 WW ^ Palm Springs, CA 92263 m SPACE ABOVE THIS LINE FOR RECORDER'S USE MAIL TAX STATEMENTS TO: DOCUMENTARY TRANSFER TAX $...NQ�..'.'_.CdQ.Y.P.n..,C(,) E.0103 ......Computed on the consideration or value of property conveyed, OR ....,.Computed on the consideration or value less liens or encumbrances remaining at time of sale. Signature of Declarant or Agent datermining tau — Firm Name GRANT DEED S 13-6 � 3-G o/- � FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, BANK OF AMZERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, A NATIONAL BANKING ASSOCIATION: JOSEPH T. CIANO (deceased) AND LEON PARMA, AS CO-TRUSTEES UNDER THE WILL OF PEARL M. MC MANUS, DECEASED hereby GRANT(S) to COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a body corporate and politic the real property IT the City of Palm Springs County o; Riverside Stale of California, described as LOTS 1 , 2 and 3 in BLOCK 22 OF PALM SPRINGS, AS SHOWN BY MAP ON FILE IN BOOK 9, PAGE 432 OF h1APS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, THIS IS NOT AN OPEN MARKET TRANSACTION. CONSIDE.RAT'ION INCLUDES ELEMENTS OTHER THAN THE REAL ESTATE. ;:+e elf; e�.l0.'4i�hr6JPefV Af4 -.. COMM OF MRSIDE Dn this 13th day of January lg 84 before we. the undersigned, a Notary Public irl on for' the aunty and State a oresa de residing therein, duly cD",Siorwd an�l swc)rn, and @�rnr�•scfnaD. . e ared D. Haase known to me to be a ce rest ent D. K. BBlanton knpr�rn to ffse tp"'�e' an Asst. Vice 'Presiden WIT �,e t e association Fat executed the foregoing str inum entsown tome to be- the sOD5 AD executed the foregoing instrinner,t on behalf of the association therein narres4 ��=' acknDwledged to me that such association executed the same, C WITNESS any hand and official seal. = -- -- OFFiCrAr SEAL, E FISICHELI I r'o7A.RY RUeuU - cAI RNIA arY G n an Or t RIVH1sIDE WiMly County and State aforesaid. cl '� My comm. expires LLIR 27, 1937 Escrow No. 1610014 • • Escrow No. 10014 Loan No. WHEN RECORDED MAIL TO: COMMUNITY REDEVELOPMENT AGENCY, CITY OF PALM SPRINGS ATTN: City Clerk P.O. Box 1786 Palm Springs, CA 92263 SPACE ABOVE THIS LINE FOR RECORDER'S USE MAIL TAX STATEMENTS TO: DOCUMENTARY TRANSFER TAX $................................................ ......Computed on the consideration or value of property conveyed; OR ......Computed on the consideration or valueless liens or encumbrances remaining at time of sale. Signature of Declarant or Agent determining tax — Firm Name GRANT DEED FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, A NATIONAL BANKING ASSOCIATION: JOSEPH T. CIANO (deceased) AND LEON PARMA, AS CO-TRUSTEES UNDER THE WILL OF PEARL M. MC MANUS, DECEASED hereby GRANT(S) to COMMUNITY REDEVELOPMENT AGENCY OF TI-IE CITY OF PALM SPRINGS, a body corporate and politic the real property in the City of Palm Springs County of Riverside State of California, described as LOTS 1, 2 and 3 in BLOCK 22 OF PALM SPRINGS, AS SHOWN BY MAP ON FILE IN BOOK 9, PAGE 432 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. THIS IS NOT AN OPEN MARKET TRANSACTION. Dated _ January 12, 1984 _ BANK OF AMERICA NATIONAL TRUST AND SAVINGS_ ASSOCIATION, A NATIONAL BANKING ASSOCIATION: STATE OF CALIFORNIA sa. J_OSEPH T. CIANO de_c_ea_sed AND LEON PARMA as COUNTY or- _ CO-TRUSTEES UNDER THE WILL OF PEARL M. MC MANUS DECEASED )olore me,the undersigned,a Notary Public in and for said State,per- a BY. onally appeared ^ DAN Tr HAA ) , Vj�e- resident, Bank of Americo ''O-Trustee — - BY: XPO � monally known to me(or proved to me on the basis of satisfactory D.K. BLANTON, Asst. Vice—President, Bank of 1ont.o) Io be the persons)whose name(s)is/are subscribed to the �d5 GO-Trustee , in Instrument and acknowledged to me that he/she/they executed BY: alto LOON PARMA, Trustee ESS my hand and official seal. (This area for official notarial seal) 100E (6/82) MAIL TAX STATEMENTS AS DIRECTED ABOVE 0 • w. RESOLUTION NO. 168 OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, AUTHORIZING THE ACQUISITION OF 9,660 SQUARE FEET OF LAND ON THE SOUTHWEST CORNER OF AMADO ROAD AND NORTH PALM CANYON DRIVE AND APPROVING BUDGET AMENDMENT THEREFORE. WHEREAS the Redevelopment Agency of the City of Palm Springs, by Resolution No. 159 authorized the Executive Director to offer and acquire certain parcels of land in Block 4 of the Central Business District Redevelopment Project for the purpose of land assembly and development in conformance with and the implementation of the Redevelopment Plan. NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS does hereby resolve as follows: Section 1 . The Executive Director of the Agency is authorized to offer and acquire that certain real property located at the southwest corner of Amado Road and North Palm Canyon Drive from the trustee in accordance with all applicable laws. Section 2. The offer shall be for one hundred and seventy-five thousand dollars ($175,000) as has been determined by a qualified appraiser. Section 3. The terms of the offer shall be $175,000 cash to escrow. Section 4. The Executive Director shall accept the deed on behalf of the Community Redevelopment Agency. Section 5. The City Clerk shall record the deed with the County Recorder. ADOPTED this 2nd day of November 1983. AYES: Members Foster, Maryanov, Smith and Chairman Bogert NOES: None ABSENT: None ABSTAIN: Member Doyle ATTEST: COMMUNITY REDEVELOPMENT AGENCY CITY OF PALM SPRINGS, CALIFORNIA By Assistant Secretary Chairman REVIEWED & APPROVED K ]�