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Home My WebLink AboutD-252 Mission Vineyard T. Recorded 05/06/19577908 wi 892 P E497 4�J OPTION FOR SALE AND PURCIi4SE OF REAL PROPERTY THIS OPTION made this 6th day of May , 19572 by and between C. 0. HUMPHREY, DOROTHY HUMPHIEY, HERBERT LANDECK, and LUCILLE LANDECK, hereinafter for convenience only sometimes referred to as "Seller" and the CITY OF SAT,? LUIS OBISPO, hereinafter for convenience only sometimes referred to as "Buyer" 11I "T 11 L S S E T H: IN CONSIDERATION of One Dollar (41.00) paid by Buyer to Seller, the receipt and sufficiency of which is hereby acknowledged, Seller hereby grants Buyer an option to purchase the real property described below on the terms and conditions hereinafter set forth: 1. OPTION TO PURCHASE: Seller hereby gives and grants to Buyer the exclusive right and option for and during the period from the date hereof to and including 2:00 o'clock P.M., Pacific.'Stmidard Time, March 2. 1959, to purchase for the price and upon and subject to the terms and conditions hereinafter stated, all of Seller's right, title and interest in that certain real property situated in the City of San Luis Obispo, County of San Luis Obispo, State of California, described as follows: That portion of lots 11 and 15 and all of lot 16 in block 100 of ?'i ssion Vine"Mrd Tract in the city of San Luis Obispo, county of San Luis Obispo, state of California, according to the map thereof filed in book A, page 1113 of IIaps, described as a whole as follows: Beginningat the northeasterly corner of Chorro.and Pacific Streets; thence :North 360 22' West along the easterly line of Chorro Street, 70 feet to a point; thence North 530 07' East 124.30 feet to the a northwesterly corner of the property described in the deed to George R. Lewis, recorded November 27, 1935 in book 184, page 468 of Official Records; then South 360 22' East along the westerly line of property described in said deed 70 feet to the southwest v, corner thereof and to a point on the northerly lane of Pacific 1' Street; thence South 530 07' West along the northerly* line of Pacific Street 124.30 feet to the point of beginning; 2. E=CISE OF OPTION: Said option may be exercised any time subsequent to the date hereof and prior to the expiration time set forth above by delivering v! F� l�J OL J 892 PAGE'498 . .. -2- written notice of exercise of this option addressed to Seller at their respective addresses. Said written notice shall be deemed delivered to Seller within 48 hours of the depositing thereof uostage prepaid, certified mail, at any United States Post Office in the State of California, but Buyer may elect to hand deliver by messenger said notice to the aforesaid addresses in which event the notice shall be deemed delivered upon leaving same at the premises. 3. PUr',HASE PRICE: The total purchase price which Buyer agrees to pay in the event of exercise of the option and which Seller agrees to accept for said real property in the event of exercise of the option is the sum of Twenty -Two Thousand Four Hundred and Seventy -Six Dollars and 05 1100 022.1476.05) plus any moneys expended by said Seller for improvements of said real property as a parking lot. 4. ESCROW: Within two business; dzys, and Saturdays and Sundays are hereby defined as not being business da;-s, from the day of delivery of notice of exercise of this option to Seller, Buyer shall open an escrow at the Title Insurance and Trust Company on the following terms and conditions and Seller and Buyer shall immediately execute same: (a) The escrow instructions shall be written on the form currently in use by Title Insurance and Trust Company. (b) The escrow shall be for thirty (30) days. (c) Within ten (10) days of the opening of said escrow, Buyer shall deposit the full amount of said purchase price into escrow. T (d) Title to the real property shall be delivered to Buyer free and i•? clear excepting for covenants, conditions, restrictions, easements, rights and f� u, rights of way of record, all of which shall be subject to the approval of Buyer within fourteen (110 days of the receipt of the Preliminary Title Report. Title shall also be subject to current unpaid real property taxes. (e) All expenses of said escrow shall be paid for by Seller. (f) Possession shall be given to Buyer at the close of escrow. 5. AUTHORITY kimD TITLE: Seller represents and warrants that it has authority to enter and grant the option herein given and that it holds title to said real property. VOL 89IC PAGE•499 -J� 6. SUCCESSORS IN INTEREST: This option is binding on the executors, administrators, heirs and.successors in interest of the parties hereto. 7. OPTION TO LEASE PURCHASE: Buyer shall have an additional option to lease said real property for a two (2) year period at the rate of six (6) percent per year of the purchase price plus all taxes payable during said two year lease period, said rent payable semi - annually, provided, however, that Buyer upon exercise of this option to lease must deliver to Seller an agreement to purchase said property by the end of said two year lease period at the purchase price and upon the conditions stated he-reinabove. Said option to lease may be exercised at any time prior to the expiration time set forth in paragraph 1. IN 1;7ITNESS '-MREOF, the undersigned have executed this option the year and day first above written. SELLER: G. C. HUMPfLREY BUYER: LtJCILLE LAIMECK -r CITY OF SAJI��UIS:.QBISPO Gp I -Iayor —+ ATTEST: 5;4 NVE t STATE OF CALIFORNIA, County of Los Angeles ISS. ON THIS 27th day of March A.D., 197, before me, the undersigned a Notary Public in and for said County and ,State; personally appeared HERBERT LANDECK known to me, to be the person— whose name_ I s subscribed to the within Instrument, and acknowledged to me that _-1e executed the same. IN WITNESS WHEREOF, I have hereunto set my han seal the day and year in this certificate first above writ e{a. JA MGM, NOTARY PCTBLIC r the County of Los Angeles, State of Wifer..1� -my Commission Expires April 7, 1958 Notary Public in and for ACKNOWLEDGMENT -- GENERAL— WOLco,rTs FORM 232 affixed my official a c County and State. CM can STATE OF CALIFORNIA COUNTY OF SS. ............................ on 1957 before me, _(jeXajd:L= ... T,Ee:rSqnq a Notary Public in and for said County and State, person. ally appeared ... Dorothy H ney ....... — --- — -------- ........... known to me to be the person.-a—whose name subscribed to the within instrument and acknowledged that i -.---the,V ....... . executed the same. WITNESS myndand official seal. (Seal) Notary Public in and for said County and State. My Commission Expires.. Augast 13, 1960 ....... Misc. 166 (G.S.) Ack. General (Photo Form) 2-21-56 8M (B i3t.) I STATE OF CALIFORNIA COUNTY OF SS. +. t ....................... Los. ... Angeles ............................ On ..... M rCh-- -2.8.,... 195.7.----- ••------------ - - - - -. - -- before me, the undersigned, a Notary Public in and for said County and State, personally appeared Lucille Landeck ............... ......- - - ...-.... -............................................. J........................... - .................. -- ........ ---- ..... ............ —•- ....... Q O known to me to be the person..._ whose name ........ 3- ........... Z subscribed to'the.within instrument and acknowledged that ......?e..- _.::_'.... :ezecuted the same. WITNMS my haad'a_nd official seal. -7 F m o a ('Seal) .. .. -° frotvry Public ie ev for said Couvty vvd tc. CdTARY PUBLtG ;vas X92 paf 500 i N -4- STATE OF CALIFORNIA ) ) ss. COUNTY OF SAN LUIS OBISPO. ) On , 195', before me personally appeared C. C. HUMPHREY, DOPOTHY HUMPHREY, HERBERT L0DECK, and LUCILIE LANDECK, known to me to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same. 4 .Notary Public in and for said County and State i a i VOt 892 PAGESU� R SOS , asT_u -I Tic. �209;i957 Earl s' ;i rt S075TION AGi T -TTING OFTIONS GN s U P RCE, i3i� `t�L ^�' T 9� ±: USED FCit OFT- 'TMiE'';T xP r2F1 > ?'G PLtI-IPOISES. M IT RESOLVED by the C,7:9a'2C„il of tho City of Stan Dais Ob?spzz) �s faUc:� s. ?, ?`I.av triz Opt-ion from e:1go P1Q tlsi my covoring U-nd thsnain describa �-d located :Ln the City of Fsn DAs u'ri£pc is horoby aec= eptedo 2. That the Optio -s xrers 01. C. Harold F. KmGarbyy- i ?e+tezd NQ FeterG� and, ;:31"x'6 C=p— m-l."var C cmrsr n- land de- ocz1ftl and located III tIa City of SLz Luis Mispa is h3vsby ecozp•tPdo _'• ':?mot the op %ion i'ta-n Ca G. 11miq h oys, L'orntPT Pvo: phmy, Herbert lardeck,, ad Luc, ?e _•andeck c:Neririg la-aid ihersi -a described and lvcated �x,, the City of TuU S Ubi pc is herabyA aacoptzd , k , That the Mnycr and Cifv Cleric aM IMraby vntho zed to execee ora behalf of tLw City of Gaz Fans Gbispo said options" =%3 that tbo Wity Cleo is dine- Led to xmcer-d 2cad opticnao PASM-D, AND ABOF` ED `W.e -16th dar O:e May s io,57v by the folly • ing ro3.3 call vote: AYES: Nels Beek, Lowell E. Christie, Kenneth W. Jones, Fred H. Lucksinger, J. Barry Smith TtCES. None A -P MI I None /s/ Fred H. Lucksinger ATMST e 3 /s/ J. H. Fitzpatrick ity v -yII,1, CD vas .892 PacE502 1L :, H� Fitzpatrick, the duly elected., qualified and acting City Clerk of the City of San yLiS Obispo, do hereby certify that the foregoing is a full true and correct copy of Resolution No„ 209 11957 Series,, gassed. and adopted by the Council of the City of San Luis Obispo on the 6th _ day of May a 1957 WITNESS my hand and the seal of the City of San Luis Obispo this 13th day of a. May a 19570 Ci lerk ': s08 Coy rr 146 ----- - - - -- -------- REJGO. S CQe CC of AT__$/_S -_M1N. PASTI—�_.,_ VOL.�C XCIfiicial Records P.�'.Z,I SAN LUIS GEISPO COUNTY, CAL, MAY 1) 11957 B -- -- _cores e Puty Fee Indexed