1982-079-Authorizing Execution Of Agreement To Purchase Property From County Of Santa Clara With CDBG Funds2
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4-J J
RESOLUTION NO. 1982-
RESOLUTION AUTHORIZIX EXECUTION OF AGREEMENT TO
PURCHASE PROPERTY FROM ODUNTY OF SANTA CLARA WITH CDBG FUNDS
The Town Council of the Town of Los Gatos hereby RESOLVES:
The Town Manager is authorized to execute the Agreement attached hereto
as Exhibit "A" on behalf of the Town.
PASSED at a regular meeting of the Town Council of the Town of Los
Gatos held on the 5th day of April, 1982, by the following votes:
AYES: COUNCIIMEtBERS Ruth Cannon, Thomas J. Ferrito,
MarLvn J. Rasmussen. and Brent N. Ventura
• 1a is ��
ABSENT: COUNCI MEMBERS Peter W. Siemens
SIGNED:
ATTEST:
Clerk of' the Town of Los Gad
The Board of Supervisors of the County of Santa Clara, hereinafter re-
ferred to as "County," and the Town of Los Gatos, a nani.cipal corporation, here-
inafter referred to as "Grantee," hereby contract and agree as follows:
1. Agreement to Sell
The County agrees to sell and the Grantee agrees to purchase County's
interest in all that certain real property, described in Exhibit "A," attached
hereto, and made a part hereof by this reference, consisting of Parcel No. 1.
2. Purchase Price
The Grantee agrees to pay to County as the purchase price for Parcel
No. 1 the sun of Four Hundred Thirty -five Thousand Dollars ($435,000.00) upon
execution of this agreement. The purchase price shall be paid with Com=ity
Development Block Grant funds, and the property shall be used for land banking
for senior and handicapped housing.
3. Maintenance
Grantee acknowledges that a portion of the adjoining County property
is being absorbed into the County Park system, and that this property, shown as
Parcel No. 2 on the attached exhibit, may only be converted from park use pur-
suant to applicable state law. Furthermore, Grantee agrees to maintain Parcel
No. 2 in a manner which satisfies the Central Fire District and other policing
bodies.
In the event Grantee wishes to acquire Parcel No. 2, County will
accept in exchange any interest in real property equal in value to Parcel No. 2
at the time of the exchange in any other suitable replacement park area which may
be mutually agreed upon by Grantee and County.
4. Deed
Upon payment of the purchase price, County agrees to deliver all neces-
sary grant deeds free and clear of all liens, encumbrances, taxes and leases.
5. Expenses
Grantee shall pay any and all expenses, including all costs of escrow,
revenue stamps, if required and authorized, and title insurance policy expenses.
6. County does not guarantee the condition of this property nor does it
assume any responsibility for the conformance to codes or permit regulations of
the city or county in which the property is located. It shall be the Grantee's
responsibility to determine all building, planning, and zoning regulations relative
7. Escrow
This transaction will be handled through an escrow with Santa Clara
County Title Company, 701 Miller Street, San Jose, California 95110, Linder
Escrow No. 803506.
IN WITNESS WHEREOF, said parties hereto have executed this agreement on
the dates hereinbelow shown.
DATED:
Richard K. Abdalah
Deputy County Counsel
DATED:
APPROVED AS TO FORM:
W� alter V. Hays
Town Attorney
•, I \iY • :: \ill: N :.G
By
Suzanne Wilson, rperson
- COUNTY -
TOWN OF LOS GATOS
f
By.
David R. Mora, Town Manager
0