HomeMy WebLinkAboutR-6046 - 148-182 Higuera - Prather Agreementa
RESOLUTION NO. 6046 (1986 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS
OBISPO APPROVING AN AGREEMENT BETWEEN THE
CITY AND PAUL AND JACQUELINE PRATHER REGARDING THE
PROPERTY LOCATED AT 148 -182 HIGUERA STREET
BE IT RESOLVED by the Council of the City of San Luis Obispo as
follows:
SECTION 1. That certain agreement, attached hereto marked Exhibit "A
and-incorporated herein by reference, between the City of San Luis Obispo
and Paul and Jacqueline Prather is hereby approved and the Mayor is
authorized to execute the same.
SECTION 2. The City Clerk shall furnish a copy of this resolution and
a copy of the executed agreement approved by it to: Paul and Jacqueline
Prather, Finance Director, Public Works Director, and City Attorney.
On motion of Councilwoman.Dovey , seconded by Councilman
Settle , and on the following roll
call vote:
AYES: Councilmembers Dovey, Settle, Griffin and Mayor Dunin
NOES: None
ABSENT: Councilwoman Rappa
the foregoing Resolution was passed and adopted this 5th day
of August 1986.
RON DUNIN
AT EST: r „
CITV CLERK P UAN VOGES
-IZ
City Adminis%
�17:
Pub is Works Director
Finance D17 Zor R 6046
AGREEMENT BETWEEN CITY OF SAN LUIS OBISPO AND PAUL PRATHER AND
JACQUELINE PRATHER REGARDING THE PROPERTY LOCATED AT
148 -182 HIGUERA STREET
This Agreement is made and entered into this 5th day of August, 1986,
by and between the CITY OF SAN LUIS OBISPO, a chartered municipal
corporation of the State of California, ( "City ") and PAUL PRATHER and
JACQUELINE PRATHER, husband and wife ( "Prather "): jointly referred to
herein as the "parties"
RECITALS
The parties enter into and execute this Agreement with knowledge of
and reliance on the following facts:
1. The City,' by adoption of its Capital Facilities Plan, intends to
widen Higuera Street, north of the intersection with Madonna Road in
Fiscal Year 1987 -88. In order to do so, the City must acquire land for
right -of -way purposes from several property owners.
2. In November, 1985, the City acquired an option from Lorraine Evans
and the Estate of Gerald B. Evans to purchase the parcel located at the
southwest corner of Higuera and South Street, commonly known as 148 -182
Higuera Street ('_Evans Property "), for the sum of $490,000 cash (the
"Option "). The City paid $20,000 to purchase the Option. The Option must
be exercised by November 15, 1986, with escrow to close by January 15,
1987. A legal description of the Evans Property is attached hereto as
Exhibit "1" and incorporated herein by this reference.
3. In order to widen Higuera Street, the City needs to (a) acquire
the easterly 25 feet, or approximately 5,510.square feet, of the Evans.
property, (b) demolish the existing buildings on the Evans Property. A
copy of the preliminary development plan and legal description of widening
EXHIBIT „A„
area is attached hereto as Exhibit "2 ", incorporated herein by this
reference.
4. The City has no present or future need for that portion of the
Evans Property remaining after the street is widened (approximately
34.249.6- square feet) (the "Evans Remainder "). A legal description of
the Evans Remainder is attached hereto as Exhibit "3" and incorporated
herein by this reference.
5. The Council finds that it would be in the City's best interest to
either sell the Evans Remainder to Prather, contingent upon the City
exercising the Option, or should the City decide not to exercise the
Option, to assign the Option to Prather for the price City paid to acquire
the Option.
6. Prather desires to either purchase the Evans Remainder at an
agreed price and under specified terms and conditions, or to acquire the
City's Option.
VOW. THEREFORE, in consideration of the mutual and respective
covenants and promises set forth herein, and subject to all the terms and
conditions hereof, the parties agree as follows!
A. Purchase and Sale of Evans Remainder.
1. If City exercises the Option, then City agrees to sell to Prather,
and Prather agrees to buy from City, the Evans Remainder for the sum of
Four Hundred Seventy Three Thousand Dollars ($473,000) cash, pursuant to
the terms and conditions set forth in that Purchase Agreement and Escrow
Instructions ( "Purchase Agreement "), which is attached hereto as Exhibit
"4 ", and incorporated herein by this reference.
2. Upon City's exercise of the Option, the Purchase Agreement shall
be immediately effective and binding on both City and Prather without
further execution by the parties. Within ten (10) days of the City's
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exercise of the Option, City and Prather shall open an escrow on the Evans
Remainder at the escrow company which is handling the escrow between the
City and Lorraine Evans and the Estate of Gerald B. Evans for the
acquisition of the Evans Property. The escrows shall close concurrently.
B. Offer to Assign Option.
1. If City decides not to exercise the Option, then City agrees to
offer to assign the Option to Prather for the sum of $20,000 cash. Such
offer shall be mailed, certified mail, return receipt requested, within
five (5) days after City decides not to exercise the Option, but in no
event later than.November 5. 1986, to Prather at Budget Rent -A -Car of
Santa Maria. 617 South Broadway, Santa Maria, CA 93454. The offer shall
expire at 5:00 p.m. on the fifth day following mailing of the offer, but
in no event later than Monday, November 10, 1986, unless, by the date and
time specified above. Prather performs each of the following Acceptance
Criteria: (1) accepts the offer in writing: (2) hand delivers the
acceptance to the office of the City Attorney. 990 Palm Street, San Luis
Obispo, California; (3) opens an escrow at First American Title in San
Luis Obispo, California, or other escrow company or agent mutually
acceptable to City and Prather; and (4) deposits the sum of $20,000 in
cash or by certified or cashier's check into the escrow described in the
immediately preceding subparagraph. Should Prather fail to perform all of
the Acceptance Criteria by the date and time specified, then (a) the offer
shall be null and void; (b) the City shall be free to assign the Option
to any other person; and (c) if requested by City, Prather shall duly
execute_ and acknowledge a quitclaim deed to the Evans Property and hand
deliver the same to the office of the City Attorney by 5:00 p.m. on the
day following the expiration of the offer, but in no event later than
Tuesday, November 11, 1986. Prather shall indemnify and save City
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harmless from any claims, damages, or actions arising out of Prather's
failure to timely execute and deliver the quitclaim deed.
2. Should Prather timely perform the Acceptance Criteria, then City
shall duly execute and acknowledge an Assignment of Option in the form
attached hereto as Exhibit "5" and incorporated herein by this reference,
and deposit the same into the escrow opened by Prather within two (2)
business days of acceptance of the offer, but in no event later than 5:00
p.m. on Wednesday, November 13, 1986. City does not represent or warrant
that the Option is assignable. In the event the Option is not assignable.
Prather shall have the right to repayment of the 520,000 within 30 days
written demand therefor. The return of the $20,000 shall be Prather's
sole remedy in the event of non - assignability of the Option. City does
not make any representations or warranties concerning the Evans Property
by its execution of the Assignment of Option. Escrow fees and escrow
costs shall be split in the usual and customary manner. Any title
insurance on the assignment of option shall be paid for by Prather.
C. Entire Agreement.
1. This Agreement contains the entire agreement between the parties
respecting the matters set forth herein, and supersedes any prior
agreements between the parties respecting such matters. This Agreement
may not be altered or otherwise modified except by an instrument in
writing signed by the parties hereto.
D. Representation by Counsel.
1. City and Prather acknowledge that each of them is represented by
an attorney in this transaction. The parties agree that each party and
counsel have reviewed this Agreement and that any rule of construction to
the effect that ambiguities are to be resolved by the drafting party shall
not apply in the interpretation of this agreement or any amendments or--
exhibits thereto:
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E. Required Action of City and Prather.
1. City and Prather agree to execute all instruments and documents
and to take all actions pursuant to the provisions hereof in order to
consummate the transactions herein contemplated.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date and year first above written.
ATTEST:
CTlerk Pamela Vq6es
CITY
CITY OF SAN LUIS OBISPO
B% -
y�4i
Mayor Ron Dunin
PRAT HE
aul Prather
acque ne Prather
14�t�T'3,,' �f � . , '' � 'Cif f� '�''' ��ja• �' �� � %:�o c3: �'! ;:r S: ".. >.::��
That portion of Lot 1 in Block 149 of J. Barford's Addition to the City
Of San Isis Obispo, in the City of San Luis Obispo, County of San Luis
Obispo, State of California, according to map filed for record April,
1876 in Book A at page 123 of Maps, described as follows..
Commencing at the Northeasterly corner of said Lot 1; and running thence
Southerly along the Easterly line of said Lot, 233.92 feet to the Northeasterly
corner of the property conveyed to Angelina Silacci, by deed recorded
June 17, 1936 in Book 197, page 92 of Official Records, records of said
County; thence North 87° 40' West along the Northerly line of the property
so conveyed, 184.18 feet, more or less, to the Westerly line of said Lot
1; thence Northerly along said Westerly line, 251.18 feet, more or less,
to the Northerly line of said Lot; thence Easterly along said Northerly
line, 171 feet, more or less, to the point of beginning.
Excepting therefrom that portion described in the deed to Martin V.
Smith, et ux., recorded April 8, 1963 in Book 1234, page 395 of Official
Records.
Also excepting therefrom that portion described in the deed to Classic
Equipment and Supply, Inc., a California corporation, recorded July 12,
1977 in Book 1994, page 179 of Official Records.
EXHIBIT �� it
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TOTAL AREA: 5510 SR FT
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EVANS
A portion of Lot 1 in Block 149 of J. Harford's addition to the City of
San Luis obispo, in the City of San Luis Obispo, County of San Luis
Obispo, State of California, according to a map filed for record in Book A
at Page 12 of Maps in the Office of the County Recorder of said County,
which is described as follows:
Beginning at the intersection of the westerly line of Higuera St. and
the southerly line of South St. as shown on the map filed in Book 6 at
page 108 of Records of Surveys; thence South 30 15' 00" West along
the westerly line of Higuera St. a distance of 216.46 feet to a point;
thence North 860 48' 00" West a distance of 25.00 feet to a point;
thence North 30 15' 00" East parallel to the westerly line of
Higuera St. a distance of 200.76 feet to a point; thence on a curve to
the left with a radius of 20.00 through an angle of 840 26' 30" to
the southerly line of South St.; thence South 810 11' 30" East along
said southerly line a distance of 43.27 feet to the POINT OF
BEGINNING.
tpg /evans -2
by
That portion of Lot 1 in Block 149 of J. Barford's Addition to the City
Of San Luis Obispo, in the City of San Luis Obispo, County of San Luis
Obispo, State of California, according to map filed for record April,
1816 in Book A at page 123 of Maps, described as follows:
Commencing at the Northeasterly corner of said Lot 1; and running thence
Southerly along the Easterly line of said Lot, 233.92 feet to the Northeasterly
corner of the property conveyed to Angelina Silacci, by deed recorded
June 17, 1936 in Book 197, page 92 of Official Records, records of said
County; thence North 87' 40' West along the Northerly line of the property
so conveyed, 184.18 feet, more or less, to the Westerly line of said Lot
1; thence Northerly along said Westerly line, 251.28 feet, more or less,
to the Northerly line of said Lot; thence Easterly along said Northerly
line, 171 feet, more or less, to the point of beginning.
Excepting therefrom that portion described in the deed to Martin V.
Smith, et ux., recorded April 89 1963 in Book 1234, page 395 of Official
Records.
Also excepting therefrom that portion described in the deed to Classic
Equipment and Supply. Inc., a California corporation, recorded July 12,
1,977 in Book 1994, page 179 of Official Records.
Also excepting therefrom that portion described in the deed to the City of
San Luis Obispo, recorded 198 Book page
of Official Records, described as follows:
Beginning at the intersection of the westerly line of Higuera St. and
the southerly line of South St. as shown on the map filed in Book 6 at
page 108 of Records of Surveys; thence South 30 15' 00" West along
the westerly line of Higuera St. a distance of 216.46 feet to a point;
thence North 860 48' 00" West a distance of 25.00 feet to a point;
thence North 30 15' 00" East parallel to the westerly line of
Higuera St. a distance of 200.76 feet to a point; thence on a curve tc
the left with a radius of 20.00 through an angle of 840 26' 30" to
the southerly line of South St.; thence South 810 11' 30" East along
said southerly line a distance of 43.27 feet to the POINT OF
BEGINNING.
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