HomeMy WebLinkAbout1996-10-07 City CouncilCity of Palo Alto
City Manager’s Report
TO:
FROM:
DATE:
SUBJECT:
HONORABLE CITY COUNCIL
CITY MANAGER DEPARTMENT: ADMINISTRATIVE
SERVICES
OCTOBER 7, 1996 CMR:416:96
OFFER AND AGREEMENT TO PURCHASE REAL PROPERTY --
MEADOWS WELL SITE, 3896 DUNCAN PLACE
REOUEST
This report transmits an Offer and Agreement to Purchase the Meadows Well site at 3896
Duncan Place and recommends that Council accept the high bid in the amount of $329,025
for the purchase of the site.
RECOMMENDATION
Staff recommends that Council accept the high bid in the amount of $329,025 for the
purchase of the Meadows Well site at 3896 Duncan Place by:
Authorizing the Mayor to execute the Offer and Agreement to Purchase Real Property
reflecting the high bid submitted by Jeffrey T. Watt and Gwen G. Liang (exact vesting
to be determined prior to opening escrow), and the Grant Deed and any other
documents necessary to accomplish the conveyance of the property. The documents
will be placed into escrow to accomplish the sale.
Approve the attached Budget Amendment Ordinance to receive funds from the sale
of the property.
POLICY IMPLICATIONS
The sale of the Meadows Well site does not represent any change to existing City policies.
DISCUSSION
On June 10, 1996, Council approved a Request for Bid Proposals (RFBP) for the sale of the
Meadows Well site, and directed staff to solicit proposals. In June, the RFBP Information
CMR:416:96 Page 1 of 3
Flyers were sent to persons on the Surplus Property Mailing list and local realtors; and
advertisements of the sale of the property were placed in the Palo Alt0 Weekly, Palo Alto
Daily News, and San Jose Mer.cury. In response to this advertising, over fifty RFBP
packages were mailed or given to interested parties.
Terms of the Offering:
The major terms of the offering as contained in the RFBP for the sale of the Meadows Well
site were as follows:
1.Minimum bid of $200,000.
Sealed written bids, accompanied by a good faith deposit in the amount of $2,000, to
be opened on Tuesday, September 10, 1996. Following opening of the written bids,
oral bids to be accepted beginning at 5 percent above the highest written bid. Only
those submitting written bids were allowed to participate in oral bidding.
o Within seven days following notification from the City to the qualified high bidder,
that bidder to pay City the difference between the $2,000 good faith deposit and 20
percent of the total amount bid.
o Following acceptance of the bid by the City Council, escrow to be opened, and Buyer
to pay the balance of the purchase price through escrow within 90 days.
5.Buyer to pay all title and escrow costs.
Buyer is responsible for the demolition and removal of any remaining well equipment
and any other facilities on the site.
Bids Received
On September 10, 1996, the following written bids were received:
Bidder Bid Amount
2.
3.
4.
5.
David Bertelson
N. Chung & Minda S. Sizto
Norman J. Hart
Wellswood Development
Jeffi’ey T. Watt &
Gwen G. Liang
$200,000
$208,000
$225,000
$251,000
$310,500
CMR:416:96 Page 2 of 3
Oral bids were then accepted at $326,025 (5 percent above the highest written bid). The
highest oral bid received was $329,025 submitted by Jeffrey T. Watt and Gwen G. Liang,
who then submitted the required 20 percent of high bid ($65,805) as set forth in the Offer
and Agreement to Purchase Real Property. The Offer and Agreement to Purchase Real
Property reflecting the high bid submitted by Jeffrey T. Watt and Gwen G. Liang is attached.
FISCAL IMPACT
Proceeds from the Sale
On June 10, 1996, Council approved a motion that 25 percent of the purchase price for the
Meadows Well site be placed in the City’s Housing In-Lieu Residential Fund. Therefore,
$82,256 of the $329,025 received for this sale will go to the Housing In-Lieu Residential
Fund. The remaining $246,769 will go to the General Fund Budget Stabilization Reserve.
ENVIRONMENTAL ASSESSMENT
Pursuant to Article 19, Section I5312 of the California Environmental Quality Act (Surplus
Government Property Sale), the sale of City property ~s categorically exempt; therefore, no
environmental impact assessment is necessary.
ATTACHMENTS
Offer and Agreement to Purchase Real Property
Budget Amendment Ordinance
PREPARED BY: Janet Freeland, Senior Financial Analyst
Dep/uxty City Manager,
A~,d~ai~istrative Se~/i~s
~ Neming
~/
~.y Manager
CC:Elizabeth Indergand
Walnut Grove Homeowners Association
Carol and William Morrison
CMR:416:96 Page 3 of 3
PARCEL NO: 147-25-039 ~
PROJECT: Meadows Well Site
OFFER AND AGREEMENT TO PURCHASE REAL PROPERTY
(Full Cash Payment)
SELLER:, CITY ,OF PASO ALT,0
In consideration of SELLER’S proposal to sell the real property described and shown on the form
of Grant Deed labeled Exhibit A, attached hereto, by competitive bids to be received September
10, 1996, BIDDER agrees to purchase said real property for the sum of:
H{Arq Or~_EO AND -[’-E.H
(Amount in words)
(Amount in numbers)
and herewith, in accordance with subparagraph 7 below, gives SELLER a good faith deposit
(Proposal Deposit) in the amount of $ 2,000.00.
This bid is conditioned upon and made with the understanding that:.
Upon notice from SELLER’S Real Estate Division that BIDDER is the qualified
high bidder, BIDDER shall within 7 days after said notice pay SELLER an
additional sum equal to the difference between the good faith deposit and 20% of
the total amount bid. Should BIDDER, for any reason whatsoever, fail to pay to
SELLER said additional amount, said good faith deposit shall be retained by
SELLER.as set forth in subparagraph 7 below.
Within twenty-four (24) days after BIDDER has paid SELLER the additional sum
referred to in Paragraph 1 above, SELLER shall consider this bid and accept or
reject it.
o Should this bid be rejected by SELLER or should SELLER fail to accept or reject
this bid within the time period set forth in Paragraph 2 above, BIDDER may
withdraw this bid and all money paid to SELLER by BIDDER shall be refunded to
BIDDER.
If this bid be accepted by SELLER, said good faith deposit and the additional sum
paid to SELLER as provided in Paragraph 1 above shall constitute a portion of the
5.
agreed purchase, price paid to SELLER outside of escrow, with the balance to be
paid through escrow as ..set forth below.
If this bid is accepted by SELLER, SELLER’S Real Estate Division shall open an
escrow with North American Title Company, 431 Florence Street, Palo Alto, Ca.
The opening date of escrow shall be the date upon which the escrow holder
named above:receives written authorization from SELLER’S Real Estate Division
to open said escrow. " .
The balance of the purchase price-shall be paid through escrow and the escrow
period shall run for a period of ninety (90) days from the opening date of escrow.
SELLER shall deliver to said escrow a Grant Deed in the form of Exhibit A and
such other documents as are required to transfer title subject only to those
exceptions shown in the attached Preliminary Report NO. 4103042, dated March
19, 1996, labeled Exhibit B and made a part hereof, and any reservations,
covenants and conditions, if any, set forth in the Grant Deed referred to above.
Prior to the date set for close of escrow, . BIDDER shall deposit into escrow the
difference between the total purchase price and the total sum paid to SELLER
outside of escrow.
The close of escrow may occur prior to the time period set forth above ~f it is
mutually desirable to SELLER’S Real Estate Division and BIDDER. However, said
time periods shall not be extended unless authorized in writing by SELLER’S Real
Estate Division staff.
Close of escrow shall be the date that the documents are filed for recordation with
the County Recorder.
The good faith deposit and the additional sum referred to in Paragraph 1 above
shall be.in the form of a cashier’s or certified check made payable to the City of
Palo Alto. The good faith deposit must be submitted together with this Agreement.
Said good faith deposit shall be held by the SELLER as a guarantee securing the
obligations BIDDER agrees to.assume in this Agreement. BIDDER agrees that
in the event that this Offer and Agreement to Purchase Real Property is accepted
by SELLER and BIDDER fails to meet the terms hereof, said good faith deposit
and the additional sum referred to in Paragraph 1 represent a fair and reasonable
estimate of SELLER’S costs in connection with this transaction, and BIDDER
further agrees that. said sum shall be retained by SELLER as compensation for
said costs.
Title insurance on the subject property shall be supplied by North American Title
Company at Buyer’s expense.
2
o
10.
Title shall be vested as specified in Paragraph 10 below and shall be s.ubject to the
exceptions shown in Pr~eliminary Report No. 4103042, and any reservations,
conditions or covenants, if any, set forth in the Grant Deed referred to in
Paragraph 6 above.
If SELLER is unable to deliver title as specified herein prior to the date set for
close of escrow, BIDDER shall have the option to:
oO
Ao Accept title in the condition in which it exists. Acceptance of such title by
BIDDER shall constitute full satisfaction of the terms of this Agree. ment as
they relate to title, and SELLER shall in no way be liable for its failure to
deliver title as set forth herein, or
B.Terminate this Agreement by delivering written notice thereof to SELLER’S
REAL ESTATE DIVISION
250 Hamilton Avenue
Palo Alto, CA 94301
and to the escrow holder. Thereupon, all monies paid by BIDDER
hereunder shall be refunded to BIDDER, and SELLER and BIDDER shall
be relieved of further obligations to one an0~her. In the event of termination
as provided in this subparagraph, all escrow and title fees incurred shall be
paid by SELLER, andBIDDER shall not be liable therefor.
Neither Subparagraph 8A nor 8B hereinabove shall apply if SELLER delivers
better title than that set out in Paragraph 6 above.
In addition to the amount specified in Paragraph 6 above, BIDDER shall deposit
into escrow a sum sufficient to pay the total cost of title insurance, escrow fees,
Real Property Transfer Tax, and all recording fees applicable to this transaction.
Title to the real property conveyed pursuant to this Agreement shall be vested in
BIDDER as set forth below. (Please type or print clearly. An example of one of
the several ways title may be vested is: John Doe and Jane Doe, husband and
wife, as joint tenants.).
11.
12.
13.
This Offer and Agreement to Purchase Real Property may be withdrawn at any
time prior to the time’set for opening bids except as provided under Paragraph 3
above may not be withdrawn after the time set for such opening.
SELLER reserves the right to reject any or all bids and to accept that bid which
will, in its opinion, best serve the public interest.
,.
All documents, correspondence, ~nd communi~ations concerning this transaction
shall be directed as follows:
TO: BIDDER TO: SELLER
(Name)
(Address)
Telephone:
CITY OF PALO ALTO
c/o Real Estate Division
250 Hamilton Avenue
P.O. Box 10250
Palo Alto, CA 94301
Attn: Martha Miller
Time is of the essence of this Agreement.
SELLER’s Representations and Warranties
1. Excepting any matters shown in the Preliminary Report, no leases,
occupancies, tenancies, or licenses exist that affect the property.
2. To the best of SELLER’s knowledge, there are not presently any actions,
suits, or proceedings .pending or threatened against or affecting the property or
SELLER’s interest in the property or its use or that would affect SELLER’s ability
to perform under this agreement.
3. The.property shall be purchased by BIDDER :’AS IS," and BIDDER shall
purchase the property solely upon the basis of BIDDER’s own investigation and
not in reliance upon any representations by SELLER or SELLER’s agents that are
not contained in the agreement. Without modifying the generality of the foregoing,
SELLER specifically disclaims any knowledge of the condition of the well or well
seal located on the property, and BIDDER shall conduct such investigations of the
well and well seal as BIDDER deems necessary or advisable to ascertain their
condition and suitability for development.
BIDDER hereby submits this offer witch full cognizance of the terms and conditions contained
herein.
SIGNATURE(S) OF BIDDER(S)
SELLER has considered and accepts this offer:
Date
SELLER:
CITY OF PALO ALTO
By
MAYOR, CITY OF PALO ALTO
APPROVED AS TO FORM:
CITY ATTORNEY
By
ATTEST:
CITY CLERK
By
APPROVED AS TO AUDIT:
CITY AUDITOR
By
RECOMMENDED FOR APPROVAL:
DEPUTY CITY MANAGER
By
MANAGER, REAL PROPER.I’Y;
EXHIBIT A
of OFFER AND AGREEMENT TO PURCHASE
Recorded at no charge in accordance
Government Code Section" 6103
at the request of, and when record-
ed return
City of Palo Alto/Real Estate
250 Hamilton Avenue
PO Box 10250
Palo Alto, CA 94303
SPACE ABOVE THIS LINE FOR
RECORDER’S USE ONLY
A.P. No.: 147-25-039
Project No.: CF 23/17-95/14
Project: Meadows Well
Sale of Surplus Property
iG R A N T D E
FOR A VALUABLE CONSIDERATION, receipt of which is hereby
acknowledged, THE CITY OF PALO ALTO, a municipal corporation,
does hereby grant to:
the real property in the City of Palo Alto, County of Santa
Clara, State of California, described as:
See Exhibit A attached hereto and made.a
part hereof for legal description.
Excepting therefrom an easement and right of way for construction
and maintenance of public utilities and improvements together
with the right of ingress and egress thereon and.the right to
pass and repass over, along, across, under, and upon said
easement whenever and wherever grantee desires for the purposes
set forth herein, in perpetuity, in, over, under, across, along,
and upon that certain property more particularly described as
Parcel 2 and Parce! 3 in Exhibit A, as shown on the map in
Exhibit B, attached hereto and by this reference incorporated
herein.
GRANTOR:
City of Palo Alto, a
Municipal Corporation
Dated:By:
ALL-PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA
COUNTY OF SANTA CLARA
On ....1996, before me,
(NOT~Y)
personally appeared
SIG~R (S)
personally known to me -or- proved to me on the basis
of satisfactory evidence to be the person(s) whose name 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.
Approved as to Form
Sr. Asst. City Attorney
By
Approved as to Description
Public Works/Engineering
APPROVALS
NOTARY ’ S SIGNATURE
Approved as to Content
ASD/Real Property Division
Approved as to Content
Utilities/Electric
By.By.
A.P.NO. 147-25-39 MARCH 26,1996
REQUESTED BY: MARTHA MILLER
PREPARED BY: JAMES T. BOURQUIN
CHECKED BY: JAY E. REMLEY, SR.
APPROVED BY: JAMES D. KIEHL
PARCEL 1
All that certain real property situated in the City of Pato Alto, County of Santa Clara, State of
California more particularly described as follows;
All of Lot 7 of Block 2 as shown on that certain map entitled "Tract No. 1128 THE MEADOWS
UNIT NO. 1", recorded March 16th, 1953 in Book 41 of Maps, at Page 56 of Santa Clara County
Official Records.
Said Parcel 1 contains 8,307 square feet (0.1907 acres) more or less.
PARCEL 2
PUBLIC UTILITY EASEMENT
A portion of real property situated in the City of Palo Alto, County of Santa Clara, State of
California more particularly described as follows;
Beginning at the most northeasterly comer of Lot 7 of Block 2 as shown on that certain map entitled
"Tract No. 1128 THE MEADOWS UNIT NO. 1", recorded March 16th, 1953 in Book 41 of Maps,
at Page 56 of Santa Clara County Official Records;
THENCE, along the easterly line of said Lot 7, South 2° 41’ 13" East 100.82 feet to Northwesterly
line of a 20 foot wide drainage easement as shown on said Tract No. 1128;
THENCE, along the northwesterly line of said drainage easement, South 58° 43’ 35" West 27.98
feet to the northeasterly line of a 5.00 foot wide Public Utility Easement as described in the
"RESOLUTION 2474, Book 2727 Page 218" on file with the City of Palo Alto Clerks office,
and as shown on said Tract No. 1128;
TttENCE, along the northeasterly line of said 5.00 foot Public Utility Easement, North 51 ° 36’ 25"
West 18.13 feet;
THENCE, North 58° 43’ 35" East 32.15 feet;
THENCE, northwesterly and parallel with the easterly line of said Lot 7, North 2° 41’ 13" West
1 of 2
87.63 feet to the southerly fight-of-way line of Duncan Place (formerly Oliver Place), said
point being on a non-tangent curve, concave northerly having a radius of 70.00 feet and
a radial beating of South 5° 31’ 40" West;
THENCE, easterly 10.03 feet along said curve through a central angle of 8° 12’ 48" to the Point Of
Beginning.
Said Parcel 2 contains 1453 square feet more oi- less.
PARCEL 3
PUBLIC UTILITY EASEMENT
A portion of real property situated in the City of Palo Alto, County of Santa Clara, State of
California more particularly described as follows;
Beginning at the most northwesterly comer of Lot 7 of Block 2 as shown on that certain map entitled
"Tract No. 1128 THE MEADOWS UNIT NO. 1", recorded March 16th, 1953 in Book 41 of Maps,
at Page 56 of Santa Clara County Official Records;
THENCE, along the northwesterly line of said Lot 7, South 33° 02’ 06" West 6.00 feet;
THENCE, South 56° 57’ 54" East 6.00 feet;
THENC.E, North 33 ° 02’ 06" East 6.26 feet; to a point on the southerly right-of-way line of Duncan
Place (formerly Oliver Place), said point being on a non-tangent curve, concave northerly
having a radius of 70.00 feet and a radial bearing of South 28° 06’ 57" West;
THENCE, northwesterly 6.00 feet along said curve through a central angle of 4°55’ 01" to the Point
Of Beginning.
Said Parcel 3 contains 36.15 square feet more or less.
Said Parcels 1, 2 and 3 are shown on attached map Exhibit "B" and made a part hereof.
END OF DESCRIPTION
JDK:jtb
. LEGAL: 1472539
PLAT: 1472539.DWG
EXHIBIT "A"
2 of 2
A.P.NO. 147-25-37
TRACT NO. 1
THE MEADOWS
= 20’ L = 9,52
DELTA = 27" 15’ 58"
L = 10.57"
DELTA = 8" 38’ 55"
"RESOLUTION 2474
BOOK 2727 PAGE 818"
]ELTA =48"
,,,R = 70’L ~.03’
~ PARCEL 2 ,, ~"
--~ ~.’~~"10.0~ ~~
~,/g A,P.NO 147-~5-40
PARCEL 1 z ~~/
3896 DUNCAN PLACE ~ ~/%~~,~S./
/ N?!_TO_SCA’E \/P,O.B. PARCEL__L.L~
~"-BELTA = ~ 5~ o1~
~N 51" 36’ 25" W 15.00’
IPLAT TO ACCOMPANY DESCRIPTIONI
P.U.E.L = PUBLIC UTILITY EASEMENT LINE
EXHIBIT "B"
DRAWN BY: J. KIEHL
I CHECKED BY: J, BOURQUIN
CHECKED BY: J. REMLEY
LEGAL FILENAME: 1472539
DRAWING FILENAHE: 1472539.DWG
LOT 7 BLOCK 2
TRACT NO. 1128
THE MEADOWS
UNIT NO. 1
CITY OF PAL0 ALTO. CALIFORNIA
SCALE: I" = 40’
P.L.S. 715~
APPROVED:
REVISION: (4) 3126196
EXHIBIT B of OFFER & AGREEMENT TO PURCHASE
North American Title Company
431 FLORENCE STREET, #i00
PALO ALTO, CALIFORNIA 94301
(415) 325-0330
DATE M.ARCH 19, 1996
CITY OF PALO ALTO
250 H/LMILTON AVE. 4TH FL.
PALO A.LTO, CA 94301
ATTN: MARTHA MILLER
ORDER NO.
PROPERTY ADDRESS :
3896 DUNCAN PI_~ACE
PALO ALTO, CA
4103042
PRELIMINARY REPORT
IN RESPONSE TO THE ABOVE REFERENCED APPLICATION FOR A POLICY OF TITLE INSURANCE, NORTH AMERICAN TITLE COMPANY, INC.
HEREBY REPORTS THAT IT IS PREPARED TO ISSUE, OR CAUSE TO BE ISSUED, As OF THE DATE HEREOF, A POLICY OR POLICIES OF TITLE
INSURANCE FROM COMMONWEALTH LAND TITLE INSURANCE COMPANY, A PENNSYLVANIA CORPORATION, DESCRIBING THE LAND AND THE ESTATE
OR INTEREST THEREIN HEREINAFTER SET FORTH, INSURING AGAINST LOSS WHICH MAY BE SUSTAINED BY REASON OF ANY DEFECT, LIEN OR
ENCUMBRANCE NOT SHOWN OR REFERRED TO AS AN EXCEPTION BELOW OR NOT EXCLUDED FROM COVERAGE PURSUANT TO THE PRINTED
SCHEDULES, CONDITIONS AND STIPULATIONS OF SAID POLICY FORM.
THE PRINTED EXCEPTIONS AND EXCLUSIONS FROM THE COVERAGE OF SAID POLICY OR POLICIES ARE SET FORTH IN EXHIBIT "A" ATTACHED.
COPIES OF THE POLICY FORMS SHOULD BE READ. THEY ARE AVAILABLE FROM THE OFFICE WHICH ISSUED THIS REPORT.
THIS REPORT (AND ANY SUPPLEMENTS OR AMENDMENTS THERETO) IS ISSUED SOLELY FOR THE PURPOSE OF FACILITATING THE ISSUANCE OF
A POLICY OF TITLE INSURANCE AND NO LIABILITY IS ASSUMED HEREBY. IF IT IS DESIRED THAT LIABILITY BE ASSUMED PRIOR TO THE
ISSUANCE OF A POLICY OF TITLE INSURANCE, A BINDER OR COMMITMENT SHOULD BE REQUESTED.
PLEASE READ THE EXCEPTIONS SHOWN OR REFERRED TO BELOW ANDTHE EXCEPTIONS AND EXCLUSIONSSET FORTH IN EXHIBIT AOF THIS
REPORT CAREFULLY.THE EXCEPTIONS AND EXCLUSIONS ARE MEANTTO PROVIDE YOU WITH NOTICE OFMATTERS WHICH ARE NOTCOVERED
UNDER THE TERMS OFTHE TITLE INSURANCE POLICYAND SHOULD BE CAREFULLY CONSIDERED.
IT IS IMPORTANT TONOTE THAT THIS PRELIMINARYREPORT IS NOTA WRITTEN REPRESENTATION AS TOTHE CONDITION OF TITLEAND MAY
NOT LIST ALL LIENS,DEFECTS,AND ENCUMBRANCESAFFECTING TITLE .TO THE LAND.
EFFECTIVE MARCH I, 1996 AS OF 7:30 A.M.
A!qNA MARIE CREAL
(ESCROW OFFICER)
North American Title Company
THE FORM OR FORMS OF POLICY 0~ TITLE INSURANCE CONTEMPLATED BY THIS
REPORT IS:
American Land Title Association Loan Policy - 1992
THE ESTATE OR INTEREST IN THE LAND HEREINAFTER
TO COVERED BY THIS REPORT IS:
FEE SIMPLE
DESCRIBED OR REFERRED
TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTED IN:
THE CITY OF PALO ALTO, A MUNICIPAL CORPORATION
Page 2 of !0 4103042
North American Title Company
THE LAND REFERRED TO HEREIN ~S SITUATED IN THE STATE OF CALIFORNIA,
COUNTY OF SANTA CLARA, CITY OF PALO ALTO, AND IS DESCRIBED AS
FOLLOWS:
LOT 7 IN BLOCK 2 AS SHOWN UPON THAT CERTAIN MAP ENTITLED, "TRACT
NO. 1128, THE MEADOWS, UNIT NO. i" WHICH MAP WAS FILED FOR RECORD
IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE
OF CALIFORNIA, ON MARCH 16, 1953 IN. BOOK 41 OF MAPS,PAGE 56.
ASSESSOR’S PARCEL NUMBER: 147-25-039
Page 3 of i0 4103042
North American Title Company
ON THE DATE HEREOF EXCEPTION~ TO COVERAGE IN ADDITION TO THE PRINTED
EXCEPTIONS AND EXCLUSIONS CONTAINED IN SAID POLICY WOULD BE AS
FOLLOWS:
o
o
o
o
°
Property taxes, including any assessments collected with taxes,
to be levied for ~he fiscal year 1996-1997 which are a lien not
yet payable.
The lien of supplemental taxes, if any, assessed pursuant to
the provisions of Chapter 3.5 (commencing with Section 75) of
the Revenue and Taxation Code of the State of California.
TAXES FOR THE FISCAL YEAR 1995-96 WERE NOT ASSESSED.
AN EASEMENT FOR THE PURPOSES SHOWN BELOW AND RIGHTS INCIDENTAL
THERETO AS SHOWN OR AS OFFERED FOR DEDICATION ON THE RECORDED
MAP SHOWN BELOW:
EASEMENT PURPOSE:
AFFECTS :
PUBLIC UTILITIES EASEMENT
SOUTHWESTERLY I0 FEET
EASEMENT PURPOSE:
AFFECTS :
DRAINAGE EASEMENT
MOST SOUTHERLY 20 FEET
Any adverse claim based upon the assertion that some portion
of said land has been brought within the boundaries thereof by
an avulsive movement of the ADOBE CREEK, or has been formed by
accretion to any such portion.
"SDch rights and easements for navigation, fishery or recreation
which may exist over that portion of the above described property
lying beneath the waters of Lake ADOBE CREEK."
Covenants, conditions and restrictions (deleting therefrom any
restrictions based on race, color or creed) as set forth in the
document
Recorded, Official Records : APRIL 20, 1953
Book : 2623
Page : 357
Said covenants, conditions and restrictions provide that a
violation thereof shall not defeat the lien of FIRST mortgage
or deed of trust made in good faith and for value.
Page 4 of !0 4103042
o
o
North American Title Company
An easement for the purpose shown below and rights incidental
thereto as set forth in a document
Granted To : SANTA CLA/tA COUNTY FLOOD CONTROL AND WATER
CONSERVATION DISTRICT
Purpose : FLOOD CONTROL AND/OR STORM WATER DRAINAGE
Recorded, Official Records : JANUARY 7, 1958
Book ." 3977
Page :564
Instrument No.:1423099
Affects :SOUTHERLY 20 FEET
An easement for the purpose shown below and rights incidental
thereto as reserved in a document.
Purpose : SANITARY SEWER AND PUBLIC UTILITY
Recorded, Official Records : JANUARY 7, 1958
Book :3977
Page :564
Instrument No.:142.3099
Affects :SOUTHERLY 20 FEET
Page 5 of I0 4103042
North American Title Company
There are no conveyances affecting said land recorded within SIX
MONTHS of the date of this report.
NOTES:
CALIFORNIA ASSEMBLY B~LL 512 ("AB512") IS EFFECTIVE ON JANUARY i,
1990. UNDER AB 512, NORTH AMERICAN TITLE COMPANY, INC. ("NATC") MAY
ONLY MAKE FUNDS AVAILABLE FOR MONETARY DISBURSAL IN ACCORDANCE WITH
THE FOLLOWING RULES:
!.SAME DAY AVAILABILITY - DISBURSEMENT ON THAT DATE OF DEPOSIT
IS ALLOWED ONLY WHEN FUNDS ARE DEPOSITED TO NORTH AMERICAN TITLE
COMPANY ("NATC") IN CASH OR BY ELECTRONIC TRANSFER (WIRE). BEAR
IN MIND THAT CASH WILL BE ACCEPTED FROM CUSTOMERS ONLY UNDER SPECIAL
CIRCUMSTANCES AS INDIVIDUALLY APPROVED BY MANAGEMENT.
2. NEXT DAY AVAILABILITY - IF FUNDS ARE DEPOSITED TO NATC BY
CASHIER’S CHECKS, CERTIFIED CHECKS, OR TELLER’S CHECKS, DISBURSEMENT
MAY BE ON THE NEXT BUSINESS DAY FOLLOWING DEPOSIT. A "TELLER’S CHECK"
IS ONE DRAWN BY AN INSURED FINANCIAL INSTITUTION AGAINST ANOTHER
INSURED FINANCIAL INSTITUTION (E.G., A SAVINGS AND LOAN FUNDING WITH
A CHECK DRAWN AGAINST AN FDIC INSURED BANK).
3. 3-7 DAY AVAILABILITY (REGULATION CC)L. IF THE DEPOSIT IS MADE BY
CHECKS OTHER THAN THOSE DESCRIBED IN PA/tAGRAPHS 1 .AND 2 ABOVE,
DISBURSEMENT MAY OCCUR ON THE DAY WHEN FUNDS MUST BE MADE AVAILABLE
TO DEPOSITORS UNDER FEDERAL RESERVE REGULATION CC. THIS’REQUIRES
A "HOLD" ON SOME CHECKS OF 2-5 DAYS OR LONGER IN SOME INSTANCES.
PERSONAL CHECKS, DRAFTS, PRIVATE CORPORATION AND COMPANY CHECKS,
AND F~UN~DING CHECKS FROM MORTGAGE COMPANIES THAT ARE NOT TELLER’S
CHECKS ARE AMONG THOSE CHECKS SUBJECT TO SUCH HOLDS.
(FOR FURTHER DETAILS, CONSULT CHAPTER 598, STATUTES OF 1989.)
NOTE: THE ABOVE GUIDELINES ARE IN CONFORMITY WITH THOSE ISSUED BY
THE DEPARTMENT OF INSURANCE FOR ALL CALIFORNIA TITLE INSURANCE AND
CALIFORNIA TITLE COMPANIES.
NOTE: ON OR AFTER JULY I, 1985, THE COUNTY RECORDER’S OFFICE WILL
CHARGE, IN ADDITION TO THE REGULAR CHARGES, AN EXTRA $20.00 RECORDING
FEE, UNLESS A DOCUMENT EVIDENCING A CHANGE OF OWNERSHIP IS ACCOMPANIED
BY A PRELIMINARY CHANGE OF OWNERSHIP REPORT. IN LIEU OF SAID REPORT,
SIGNED BY THE TRANSFEREE, THE RECORDER WILL ACCEPT AN AFFIDAVIT THAT
THE TRANSFEREE IS NOT A RESIDENT OF CALIFORNIA. TITLE BILLINGS WILL
BE ADJUSTED TO REFLECT SUCH ADDITIONAL FEES WHEN APPLICABLE.
THE CHARGE FOR A POLICY OF TITLE INSURANCE, WHEN ISSUED THROUGH THIS
TITLE ORDER WILL BE BASED ON THE BASIC (NOT SHORT TERM) TITLE
INSURANCE RATE.
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North American Title Company
IF ANY OF THE DEEDS OF TRUST SHOWN IN THIS PRELIMINARY REPORT SECURES
A REVOLVING CREDIT LOAN, THIS COMPANY WILL REQUIRE PRIOR TO CLOSING
THAT :
(A) THE BORROWER PROVIDE AUTHORIZATION TO THE LENDER TO FREEZE THE
LOAN FROM FURTHER DISBURSEMENTS AND THAT WE BE PROVIDED WITH
PROOF THAT THE ACCOUNT HAS BEEN FROZEN AND THE EFFECTIVE DATE
OF THE FREEZE; AND,
(B)THERE A_RE NO OUTSTANDING CHECK~’UNPAID; ]%ND,
(C)SHOULD THE COMPANY BE UNABLE TO ASCERTAIN THAT ONE OR MORE OF
THE ABOVE HAVE NOT BEEN COMPLIED WITH, WE WILL WITHHOLD FROM THE
PROCEEDS THE MAXIMUM AMOUNT OF THE LOAN OBLIGATION UNTIL SUCH
TIME AS WE MAY VERIFY THAT THE PAYOFF WAS SUFFICIENT TO OBTAIN
A FULL RECONVEYANCE.
THIS REPORT IS SUBJECT TO A CANCELLATION CHARGE AND OR MINIMUM CHARGE
AS REQUIRED BY SECTIONS 12404, ET. SEQ., OF THE INSURANCE CODE OF
THE STATE OF CALIFORNIA AND RULE NO. 2 OF DEPARTMENT OF INSUR!INCE
BULLETIN NO. NS. 35 E.
THIS IS A NOTICE OF A WITHHOLDING REQUIREMENT (CALIFORNIA REVENUE
AND TAXATION CODE SECTIONS 18662) ON SALES OF REAL PROPERTY.
BEFORE THE TRANSACTION CONTEMPLATED BY THIS REPORT CAN BE CLOSED,
THE SELLER/BORROWER MUST FURNISH A TAXPAYER IDENTIFICATION NUMBER
TO US SO THAT WE CAN FILE AN IRS FORM 1099, OR ITS EQUIVALENT, WITH
THE INTERNAL REVENUE SERVICE. THIS PROCEDURE IS REQUIRED BY SECTION
6045 OF THE INTERNAL REVENUE SERVICE.
IN ACCQRDANCE WITH SECTION 18662 OF THE REVENUE AArD TAXATION CODE,
A BUYER MAY BE REQUIRED TO WITHHOLD AN AMOUNT EQUAL TO 3-1/3 PERCENT
OF THE SALES PRICE, IN THE CASE OF A DISPOSITION OF CALIFORNIA REAL
PROPERTY INTEREST BY EITHER:
I. A SELLER WHO IS AN INDIVIDUAL WITH A LAST KNOWN STREET ADDRESS
OUTSIDE OF CALIFORNIA OR WHEN THE DISBURSEMENT INSTRUCTIONS
AUTHORIZE THE PROCEEDS BE SENT TO A FINANCIAL INTERMEDIARY OF
THE SELLER, OR
2. A CORPORATE SELLER WHICH HAS NO PERMANENT PLACE OF BUSINESS IN
CALIFORNIA, OR
FOR FAILURE TO WITHHOLD, THE BUYER MAY BECOME SUBJECT TO A PENALTY
IN AN AMOUNT EQUAL TO THE GREATER OF i0 PERCENT OF THE AMOUNTREQUIREDTO BE WITHHELD OR FIVE HUNDRED DOLLARS ($500).
HOWEVER, NOTWITHSTANDING ANY OTHER PROVISION INCLUDED IN THE
CALIFORNIA STATUTES REFERENCED ABOVE, NO BUYER WILL BE REQUIRED TO
WITHHOLD ANY AMOUNT OR BE SUBJECT TO PENALTY FOR FAILURE TO WITHHOLD
IF:
!.THE SALES PRICE OF THE CALIFORNIA REAL PROPERTY CONVEYED DOES
NOT EXCEED ONE HUNDRED THOUSAND DOLLARS ($i00,000),OR
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North American Title Company
2. THE SELLER EXECUTES A WRITTEN CERTIFICATE, UNDER PENALTY OF
PERJURY, CERTIFYING THAT THE SELLER ISA RESIDENT OF CALIFORNIA,
OR IF A CORPORATION, HAS A PERMANENT PLACE OF BUSINESS IN
CALIFORNIA OR
3. THE SELLER, WHO IS AN INDIVIDUAL, EXECUTES A WRITTEN CERTIFICATE,
UNDER PENALTY OF PERJI/RY, THAT THE CALIFORNIA REAL PROPERTY BEING
CONVEYED IS THE SELLER’S PRINCIPAL RESIDENCE .(AS DEFINED IN
SECTION 1034 OF THE INTERNAL REVENUE’CODE).
THE SELLER IS SUBJECT TO PENALTY FOR KNOWINGLY FILING A FRAUDULENT
CERTIFICATE FOR THE PURPOSE OF AVOIDING THE WITHHOLDING REQUIREMENT.
THE CALIFORNIA STATUTES REFERENCE ABOVE INCLUDE PROVISIONS WHICH
AUTHORIZE THE FRANCHISE TAX BOARD TO GRANT REDUCED WITHHOLDING AND
WAIVERS FROM WITHHOLDING ON A CASE-BY-CASE BASIS.
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North American Title Company
IN THE EVENT THE BUYER REQUIRES WITHHOLDING OF THE 3-1/3 PERCENT
OF SALES PRICE FROM THE SELLERS PROCEEDS, THE BUYER IS REQUIRED TO
FILE COPY A OF FORM FTB597 WITH THE FRANCHISE TAX BOAR!] ALONG WITH
THE WITHHOLDING AMOUNT DUE NO LATER THAN THE 20TH DAY OF THE MONTH
FOLLOWING THE MONTH IN WHICH THE WITHHOLDING OCCURRED, UNLESS THE
SELLER HAS REQUESTED A WAIVER. IF THE SELLER HAS REQUESTED A WAIVER,
THE FRANCHISE TAX BOARD, WITHIN 45 DAYS, WILL EITHER AUTHORIZE A
REDUCED AMOUNT, OR NO AMOUNT, OR DENY THE REQUEST, AT WHICH TIME
THE AMOUNT WITHHELD ALONG WITH COPY A OF FORM FTB 597 MUST BE SENT
TO THE FRANCHISE TAX BOARD, AT THE FOLLOWING ADDRESS:
FRANCHISE TAX BOARD
WITHHOLDING AT ~SOURCE UNIT
P.O. BOX 651
SACR/LMENTO, CA 95812-0651
(916)369-4900
LENDERS SUPPLEMENTAL REPORT
THE A.L.T.A. POLICY, WHEN ISSUED, WILL INCLUDE C.L.T.A. ENDORSEMENT
NUMBER I00 AND ENDORSEMENT I16 ~OR 116.2.
SAID LAND IS KNOWN AS 3896 DUNCAN PLACE, PALO ALTO, CA, COUNTY OF
SANTA CLARA, STATE OF CALIFORNIA.
Page 9 of i0 4103042
ORDINANCE NO.
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 1996-97 TO
RECEIVE FUNDS FROM THE SALE OF REAL PROPERTY, MEADOWS
WELL SITE, 3896 DUNCAN PLACE
WHEREAS, pursuant to the provisions of Section 12 of Article
III of the Charter of the City of Palo Alto, the Counci! on June
24, 1996 did adopt a budget for fisca! year 1996-97; and
WHEREAS, on June i0, 1996, Council approved a Request for Bid
Proposals (RFBP) for the sale of the Meadows Well site; and
WHEREAS, staff recommends that Council accept the high bid in
the amount of $329,025 for the purchase of the site; and
WHEREAS, Council directed that 25 percent of the purchase price
for the Meadows Wel! site be placed in the City’s Residentia!
Housing In-Lieu Fund; and
WHEREAS, City Council authorization is needed to amend the
1996-97 budget as hereinafter set forth.
NOW, THEREFORE, the Council of the City of Palo Alto does
ORDAIN as fol!ows:
~Eg.<.ION i. Sale of Property revenue in the General Fund is
increased by the sum of Two Hundred Forty Six Thousand Seven Hundred
Sixty Nine Dollars ($246,769), and the Budget Stabilization Reserve
is correspondingly increased.
SEC.~..IQN. 2. This transaction will increase the
Stabilization Reserve from $15,839,622 to $16,086,391.
Budget
~ECT.ION 3. Sale of Property revenue in the Residential Housing
In-lieu Fund is increased by the sum of Eighty Two Thousand Two
Hundred Fifty Six Dollars ($82,256), and the Housing In-Lieu Fund
Reserve is correspondingly increased.
SECTION 4. This transaction will repay the loan from the
Commercial Housing In-Lieu reserve to the Residential Housing In-
Lieu reserve and the Residential In-Lieu Reserve balance will be
$30,814. The overall Housing In-Lieu Reserves will increase from
$524,172 to $606,428.
$.E~TION 5. As specified in Section 2.28.080(a) of the Palo
Alto Municipal Code, a two-thirds vote of the City Council is
required to adopt this ordinance.
SECTION 6. The Counci! of the City of Palo Alto hereby finds
that the enactment of this ordinance is not a project under the
California Environmental Quality Act and, therefore, no
environmental impact assessment is necessary.
SECTION 7. As provided in Section 2.04.350 of the Palo Alto
Municipa! Code, this ordinance shall become effective upon adoption.
INTRODUCED AND PASSED:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
ATTEST:APPROVED:
City Clerk Mayor
APPROVED AS TO FORM:City Manager
Senior Asst. City Attorney Deputy City
Administrative
Department
Manager,
Services