HomeMy WebLinkAboutD-1412 Lot 119 Of Suburban Tract Recorded 07/01/1994dSeORpING REQUESTED BY:
rril r8t; American. Title Ins.w.
WHEN RECORDED RETURN TO:
City of San Luis Obispo
990 Pal street
P.O. Box 8100
San Luis Obispo, Ca 93403 -8100
MAIL TAX STATEMENTS TO:
•
Doc No: 1994- 040183 Rec No: 0004866
Official Records ',SLO 183.1
San Luis.Obispo Co. ;NF 0.0
Francis M. Cooney
Recorder
Jul 01, 1994
Time: 08:00
21 ;TOTAL 183.15
address The undersigned grantor declares:
Same .as above Documentary transfer tax is $ 183.15
(, computed on full value of property conveyed, or
_ _ O computed on full value less value of liens and
encumbrances remaining at time of sale.
( ) Unincorporated area
(X) City of San Luis Obispo
Attn: Public Works Director i
APN: 53- 071 -05?`�
DEED N4: 1412
ADMINISTRATOR'S DEED
FILED
FEE PAID
EXEMPT
OUT OF
STATE
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, I,
JEANETTE G. 'MUNCH, as Administrator of the Estate of Cecil Leroy Munch, also known
as Cecil L. Munch and Cecil Munch, deceased, by order of the Superior Court of
California, for the County of San Luis Obispo, made in the matter of the Estate of Cecil
Leroy Munch, also known as Cecil L. Munch and Cecil Munch, Case No. PR 24071, on
June 3, 1994, confirming the sale of real property and directing the execution of a
conveyance, hereby convey to. City of, San Luis Obispo, a Chartered Municipal
Corporation, all right, title, and interest of -the decedent at the time of death and all right,
title, and interest that the estate may have subsequently acquired by operation of law or
otherwise in the real property _situated in the County of San Luis Obispo, California
described as follows:
That portion of Lot 119 of the San Luis Obispo Suburban Tract, in the County of
San Luis Obispo, State of California, according to the map thereof filed in Book
1, Page 92 of Records of Surveys, records of said county described as follows:
Beginning at a point on the Southwesterly line of said lot said point is the point
of beginning and is South 330 30' East, 250 feet from the Northwest corner of
said lot thence South 330 30' East along said Southwesterly line 176.83 feet to
the Northwest corner of -the land described in the deed to Louise G. Bell,
recorded June 9, 1945 in Book 383, Page 321 of Official Records; thence North
560 30' East along the Northwesterly line of the land described in said deed
183.94 feet; thence North 00 22' West 144.84 feet; thence Southwesterly along
the Southerly line of the land described in the deed to Russell D. Bullock, et ux.,
recorded November 6, 1950 in Book 585, Page 336 .of Official Records and
along the Southerly line of the land described in the deed to Richard N. Bullock,
et ux., recorded November 6, 1950 in Book 585, Page 337 of Official Records, to
the point of beginning.
Excepting therefrom that portion thereof heretofore deeded by the grantor to
Elwood E. Munch and Dolores M. Munch by deed dated November 1, 1956,
and recorded in Volume 868, Page 352, Official Records of San Luis Obispo
County.
This property is being conveyed subject to (1) current taxes and assessments; (2)
reservations, easements, covenants, conditions, and restrictions of record or apparent;
and (3) all matters that would be disclosed by inspection or survey.
Dated: June ,./ , 1994
,
Jeanette G. Munch, Administrator
D 1412
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State of California )
County of San Luis Obispo
On June 21 , 1994, before me, DONNA M. MAYSEY, the undersigned, a notary public
in the County of San Luis Obispo, State of California, personally appeared JEANETTE
G. MUNCH, personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person whose name is subscribed to the within instrument and
acknowledged to me that she executed the same in her authorized capacity, and that by
her signature on the instrument the person, or the entity upon behalf of which the person
acted, executed the instrument.
WITNESS my hand and official seal.
Siqnature
;ND OF 118MIUMT
OFFICIAL SEAL
Donna M. Maysey
® NOTARY PUBLIC - CALIFORNIA
SAN LUIS OBISPO COUNTY
Moaw` My Comm. Expires July 25,1995
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maue oy Tne insures in any transfer or conveyance or the
estate or interest. This policy shall not continue in force in
favor of any purchaser from the insured of either (i) an estate
or interest in the land, or (ii) an indebtedness secured by a
purchase money mortgage given to the insured.
3. NOTICE OF CLAIM TO BE GIVEN BY
INSURED CLAIMANT.
The insured shall notify the Company promptly in
writing (i) in case of any litigation as set forth in Section 4(a)
below, (ii) in case knowledge shall come to an insured
hereunder of any claim of title or interest which is adverse to
the title to the estate or interest, as insured, and which might
cause loss or damage for which the Company may be liable
by virtue of this policy, or (iii) if title to the estate or interest,
as insured, is rejected as unmarketable. If prompt notice shall
not be given to the Company, then as to the insured all liability
of the Company shall terminate with regard to the matter or
matters for which prompt notice is required; provided,
however, that failure to notify the Company shall in no case
prejudice the rights of any insured under this policy unless
the Company shall be prejudiced by the failure and then only
to the extent of the prejudice.
DEFENSE AND PROSECUTION OF ACTIONS;
DUTY OF INSURED CLAIMANT TO COOPERATE.
(a) Upon written request by the insured and subject to
the options contained in Section 6 of these Conditions and
Stipulations, the Company, at its own cost and without
unreasonable delay, shall provide for the defense of an
insured in litigation in which any third party asserts a claim
adverse to the title or interest as insured, but only as to those
stated causes of action alleging a defect, lien or en-
cumbrance or other matter insured against by this policy. The
Company shall have the right to select counsel of its choice
(subject to the right of the insured to object for reasonable
cause) to represent the insured as to those stated causes of
action and shall not be liable for and will not pay the fees of
any other counsel. The Company will not pay any fees, costs
or expenses incurred by the insured in the defense of those
causes of action which allege matters not insured against by
this policy.
(b) The Company shall have the right, at its own cost,
to institute and prosecute any action or proceeding or to do
any other act which in its opinion may be necessary or
desirable to establish the title to the estate or interest, as
insured, or to prevent or reduce loss or damage to the
insured. The Company may take any appropriate action under
the terms of this policy, whether or not it shall be liable
hereunder, and shall not thereby concede liability or waive
any provision of this policy. If the Company shall exercise its
rights under this paragraph, it shall do so diligently.
(c) Whenever the Company shall have brought an
action or interposed a defense as required or permitted by the
provisions of this policy, the Company may pursue any
litigation to final determination by a court of competent
jurisdiction and expressly reserves the right, in its sole
discretion, to appeal from any adverse judgment or order.
(d) In all cases where this policy permits or requires
the Company to prosecute or provide for the defense of any
action or proceeding, the insured shall secure to the
Company the right to so prosecute or provide defense in the
action or proceeding, and all appeals therein, and permit the
Company to use, at its option, the name of the insured for this
purpose. Whenever requested by the Company, the insured,
at the Company's expense, shall give the Company all
reasonable aid (i) in any action or proceeding, securing
evidence, obtaining witnesses, prosecuting or defending the
action or proceeding, or effecting settlement, and (ii) in any
other lawful act which in the opinion of the Company may be
necessary or desirable to establish the title to the estate or
interest as insured. If the Company is prejudiced by the failure
of the insured to furnish the required cooperation, the
Company's obligations to the insured under the policy shall
terminate, including any liability or obligation to defend,
prosecute, or continue any litigation, with regard to the matter
or matters requiring such cooperation.
5. PROOF OF LOSS OR DAMAGE.
In addition to and after the notices required under
Section 3 of these. Conditions and Stipulations have been
provided the Company, a proof of loss or damage signed and
sworn to by the insured claimant shall be furnished to the
Company within 90 days after the insured claimant shall
ascertain the facts giving rise to the loss or damage. The
proof of loss or damage shall describe the defect in, or lien
or encumbrance on the title, or other matter insured against
(b) To Pay or Otherwise Settle With Parties Other than
e Insured or With the Insured Claimant.
IF(i) to pay or otherwise settle with other parties for
in the name of an insured claimant any claim insured
against under this policy, together with any costs, attorneys'
fees and expenses incurred by the insured claimant which
were authorized by the Company up to the time of payment
and which the Company is obligated to pay; or
(ii) to pay or otherwise settle with the insured
claimant the loss or damage provided for under this policy,
together with any costs, attorneys' fees and expenses
incurred by the insured claimant which were authorized by the
Company up to the time of payment and which the Company
is obligated to pay.
Upon the exercise by the Company of either of the
options provided for in paragraphs (b)(i) or (ii), the Com-
pany's obligations to the insured under this policy for the
claimed loss or damage, other than the payments required to
be made, shall terminate, including any liability or obligation
to defend, prosecute or continue any litigation.
DETERMINATION, EXTENT OF LIABILITY
AND COINSURANCE.
This policy is a contract of indemnity against actual
monetary loss or damage sustained or incurred by the
insured claimant who has suffered loss or damage by reason
of matters insured against by this policy and only to the extent
herein described.
(a) The liability of the Company under this policy shall
not exceed the least of:
(i) the Amount of Insurance stated in Schedule A;
(ii) the difference between the value of the insured
estate or interest as insured and the value of the insured estate
or interest subject to the defect, lien or encumbrance insured
against by this policy.
(b) In the event the Amount of Insurance stated in
Schedule A at the Date of Policy is less than 80 percent of
the value of the insured estate or interest or the full
consideration paid for the land, whichever is less, or if
subsequent to the Date of Policy an improvement is erected
on the land which increases the value of the insured estate
or interest by at least 20 percent over the Amount of
Insurance stated in Schedule A, then this Policy is subject to
the following:
(i) where no subsequent improvement has been
made, as to any partial loss, the Company shall only pay the
loss pro rata in the proportion that the Amount of Insurance
at Date of Policy bears to the total value of the insured estate
or interest at Date of Policy; or (ii) where a subsequent
improvement has been made, as to any partial loss, the
Company shall only pay the loss pro rata in the proportion that
120 percent of the Amount of Insurance stated in Schedule
A bears to the sum of the Amount of Insurance stated in
Schedule A and the amount expended for the improvement.
The provisions of this paragraph shall not apply to
costs, attorneys' fees and expenses for which the Company
is liable under this policy, and shall only apply to that portion
of any loss which exceeds, in the aggregate, 10 percent of
the Amount of Insurance stated in Schedule A.
(c) The Company will pay only those costs, attorneys'
fees and expenses incurred in accordance with Section 4 of
these Conditions and Stipulations.
B. APPORTIONMENT.
If the land described in Schedule (A) (C) consists of two
or more parcels which are not used as a single site, and a loss
is established affecting one or more of the parcels but not all,
the loss shall be computed and settled on a pro rata basis as
if the Amount of Insurance under this policy was divided pro
rata as to the value on Date of Policy of each separate parcel
to the whole, exclusive of any improvements made sub-
sequent to Date of Policy, unless a liability or value has
otherwise been agreed upon as to each parcel by the
Company and the insured at the time of the issuance of this
policy and shown by an express statement or by an
endorsement attached to this policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the
alleged defect, lien or encumbrance, or cures the lack of a
right of access to or from the land, or cures the claim of
unmarketability of title, all as insured, in a reasonably diligent
manner by any method, including litigation and the comple-
tion of any appeals therefrom, it shall have fully performed its
obligations with respect to that matter and shall not be liable
had this policy not been issued. if requested by the Company,
the insured claimant shall transfer to the Company all rights
Aftd remedies against arty person or property necessary in
der to perfect this right of subrogation. The insured
claimant shall permit the Company to sue, compromise or
settle in the name of the insured claimant and to use the name
of the insured claimant in any transaction or litigation
involving these rights or remedies.
If a payment on account of a claim does not fully cover
the loss of the insured claimant, the Company shall be
subrogated to these rights and remedies in the proportion
which the Company's payment bears to the whole amount
of the loss.
If loss should result from any act of the insured
claimant, as stated above, that act shall not void this policy,
but the Company, in that event, shall be required to pay only
that part of any losses insured against by this policy which
shall exceed the amount, if any, lost to the Company by
reason of the impairment by the insured claimant of the
Company's right of subrogation.
(b) The Company's Rights Against non - insured
Obligors.
The Company's right of subrogation against non-
insured obligors shall exist and shall include, without
limitation, the rights of the insured to indemnities, guaranties,
other policies of insurance or bonds, notwithstanding any
terms or conditions contained in those instruments which
provide for subrogation rights by reason of this policy.
14. ARBITRATION.
Unless prohibited by applicable law, either the Com-
pany or the insured may demand arbitration pursuant to the
Title Insurance Arbitration Rules of the American Arbitration
Association. Arbitrable matters may include, but are not
limited to, any controversy or claim between the Company
and the insured arising out of or relating to this policy, any
service of the Company in connection with its issuance or
the breach of a policy provision or other obligation. All
arbitrable matters when the Amount of Insurance is
$1,000,000 or less shall be arbitrated at the option of either
the Company or the insured. All arbitrable matters when the
Amount of Insurance is in excess of $1,000,000 shall be
arbitrated only when agreed to by both the Company and the
insured. Arbitration pursuant to this policy and under the
Rules in effect on the date the demand for arbitration is made
or, at the option of the insured, the Rules in effect at Date of
Policy shall be binding upon the parties. The award may
include attorneys' fees only if the laws of the state in which
the land is located permit a court to award attomeys' fees to
a prevailing party. Judgment upon the award rendered by the
Arbitrator(s) may be entered in any court having jurisdiction
thereof.
The law of the situs of the land shall apply to an
arbitration under the Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the
Company upon request.
15. LIABILITY LIMITED TO THIS POLICY;
POLICY ENTIRE CONTRACT.
(a) This policy together with all endorsements, if any,
attached hereto by the Company is the entire policy and
contract between the insured and the Company. In interpret-
ing any provision of this policy, this policy shall be construed
as a whole.
(b) Any claim of loss or damage, whether or not
based on negligence, and which arises out of the status of
the title to the estate or interest covered hereby or by any
action asserting such claim, shall be restricted to this policy.
(c) No amendment of or endorsement to this policy
can be made except by a writing endorsed hereon or attached
hereto signed by either the President, a Vice President, the
Secretary, an Assistant Secretary, or validating officer or
authorized signatory of the Company.
16. SEVERABILITY.
In the event any provision of the policy is held invalid
or unenforceable under applicable law, the policy shall be
deemed not to include that provision and all other provisions
shall remain in full force and effect.
17. NOTICES, WHERE SENT.
All notices required to be given the Company and any
statement in writing required to be furnished the Company
shall include the number of this policy and shall be addressed
to the Company at 114 East Fifth Street, Santa Ana, California
92701, or to the office which issued this policy.
S A M ER f
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First American Title Insurance Company
899 PACIFIC STREET (P.O. BOX 1147), SAN LUIS 0916'f 41 �y (805 )" 543-8900
\,0 /0�0 W-559 FIVE CITIES DRIVE, PISMO BEACH, CA 93449 i �� I !� (805) 773 -6600*
935 RIVERSIDE, SUITE 13, PASO ROBLES, CA 934 • (805) 238 -7747
6905 EL CAMINO REAL, SUITE 13, ATASCADERO, 422 (805) 466 -8545
685 MAIN STREET, SUITE C, MORRO BAY, CA 934 jet, J 2 (805) 772 -2773
i 6-j; July 11, 1994 PUB LIC Wfp dL n i MC
City of San Luis Obispo, A Chartered Municipal Corp.
Attn: Michael D. McCluskey e
955 Chorro St. ��NNi�J/
San Luis Obispo, CA 93401
Dear Mr. McCluskey,
INSURANCE POLICY NO: PB- 904265 -YMH
NOTE: THIS CONTAINS IMPORTANT INFORMATION ABOUT THE REAL ESTATE
TRANSACTION YOU HAVE JUST COMPLETED. READ IT AND RETAIN IT WITH
YOUR OTHER VALUABLE PAPERS PERTAINING TO THE PROPERTY.
The new home or other real estate you have purchased is protected
with a policy of title insurance issued by First American Title
Insurance Company. This is your guarantee of ownership.
We have assigned the above number to your records to assure prompt
processing of future title orders involving the property. If you
sell or obtain a loan on this property within five years, FIRST
AMERICAN TITLE WILL REDUCE THE USUAL POLICY RATE 20 per cent.
To obtain this SAVINGS, it will be necessary for you to inform the
real estate agent and /or escrow holder handling further transactions
that such policies of title insurance as are required should be
issued by First American Title.
We appreciate the opportunity of serving you and will be glad to
assist you in any way, remembering that PROTECTION OF YOUR PROPERTY
IS YOUR FIRST CONSIDERATION AND OURS.
cfAv�
Yolanda M. Herrera
scrow Officer
YMHvsn
SG Ah1ERI,
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Form No. 1402.92
(10- 17 -92)
ALTA Owner's Policy
SCHEDULE A
Premium $799.55
Amount of Insurance: $166,500.00
Date of Policy: July 1, 1994 at 8:00 a.m.
SLO- 904265 YH
END. FA11.1
1. Name of insured:
CITY OF SAN LUIS OBISPO, A CHARTERED MUNICIPAL CORPORATION
2. The estate or interest in the land which is covered by this Policy is:
A FEE
3. Title to the estate or interest in the land is vested in:
CITY OF SAN LUIS OBISPO, A CHARTERED MUNICIPAL CORPORATION
C3 aM1tEjR .
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Form No. 1402 -C
ALTA Standard Policy
Western Region
SCHEDULE B
EXCEPTIONS FROM COVERAGE
SLO- 904265 YH
This policy does not insure against loss or damage (and the Company will not pay costs,
attorneys' fees or expenses) which arise by reason of:
Part One:
1: Taxes or assessments which are not shown as existing liens by the records of any taxing
authority that levies taxes or assessments on real property or by the public records.
Proceedings by a public agency which may result in taxes or assessments, or notices of
such proceedings, whether or not shown by the records of such agency or by the public
records.
2. Any facts, rights, interests or claims which are not shown by the public records but
which could be ascertained by an inspection of the land or by making inquiry of persons
in possession thereof.
3. Easements, liens or encumbrances, or claims thereof which are not shown by the public
records.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other
facts which a correct survey would disclose, and which are not shown by public records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts
authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not
the matters excepted under (a), (b) or (c) are shown by the public records.
Part Two:
1. Taxes for the fiscal year 1994 -95, a lien not yet due or payable.
2. "The lien of supplemental taxes, if any, assessed pursuant to the provisions of Chapter
3.5 Revenue and Taxation Code, Section 75, et. seq. arising and attaching on or after date of
policy."
�♦ 9
41j��� SLO- 904265 YH
Form No. 1402 -C
ALTA Standard Policy
Western Region
3. An easement for storm drain, sanitary sewer and incidental purposes over a portion of
said land as granted to Randal L. Bullock and Richard N. Bullock, Jr. in the deed executed by
Cecil LeRoy Munch and recorded May 4, 1984 as Instrument No. 22833 in Book 2591, Page
107 of Official Records.
SC AhtER�
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Form No. 1402 -C
ALTA Standard Policy
Western Region
SCHEDULE C
SLO- 904265 YH
The land referred to in this policy is situated in the State of California,. County of San Luis
Obispo, and is described as follows:
That portion of Lot 119 of the San Luis Obispo Suburban Tract, in the City of San Luis Obispo,
in the County of San Luis Obispo, State of California, according to map recorded in Book 1,
Page 92 of Records of Surveys, in the office of the County Recorder of said County, described
as follows:
Beginning at a point on the Southwesterly line of said lot distant thereon South 33 °30' East; 250
feet from the Northwest corner of said lot; thence South 33'.30' East along said Southwesterly
line 176.83 feet to the Northwest comer of the land described in the deed to Louise G. Bell,
recorded June 9, 1945 in Book 383, Page 321 of Official Records; thence North 56 °30' East
along the Northwesterly line of the land described in said deed 183.94; thence North 0 °22'
West, 144.84 feet; thence Southwesterly along the Southerly line of land described in the deed
to Russell D. Bullock, et ux.., recorded November 6, 1950 in Book 585, Page 336 of Official
Records and along the Southerly line of the land described in the deed to Richard N. Bullock,
et ux., recorded November 6, 1950 in Book 585, Page 337 of Official Records to the point of
beginning.
EXCEPTING therefrom that portion thereof heretofore deeded by the grantor to Elwood E.
Munch and Dolores M. Munch by deed dated November 1, 1956 and recorded in Book 868,
Page 352 of Official Records..
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Form No. 1402 -C
ALTA Standard Policy
Western Region
ENDORSEMENT
Issued By
First American Title Insurance Company
SLO-904265 YH
The Company, recognizing the current effect of inflation on real property valuation and
intending to provide additional monetary protection to the insured owner named in the policy,
hereby modifies the policy, as follows:
1. Notwithstanding anything contained in the policy to the contrary, the amount of
insurance provided by the policy, as stated in Schedule A thereof, is subject to
cumulative annual upward adjustments in the manner and to the extent hereinafter
specified.
2. "Adjustment date" is defined, for the purpose of this endorsement, to be 12:01
a.m. on the first January 1 which occurs more than .six months after the date of
policy, as shown in Schedule A of the policy to which this endorsement is
attached, and on each succeeding January 1.
3. An upward adjustment will be made on each of the adjustment dates, as defined
above, by increasing the maximum amount of insurance provided by the policy.
The coverage will increase by the same percentage change by which the annual
"ENR 20- cities Building Cost Index" has increased, (as published in the "4th
quarter roundup" December issue of Engineering News Record, a weekly
McGraw Hill publication). All upward adjustments in the aggregate shall not
exceed a 50% total rise in the amount of insurance, so that the maximum amount
of insurance in force shall never exceed 150% of the amount of insurance stated
in Schedule A of the policy, less the amount of any claim paid under the policy
which, under the terms of the conditions. and stipulations, reduces the amount of
insurance in force. There shall be no annual adjustment in the amount of
insurance for years in which there is no increase in the building cost index.
4. In the settlement of any claim against the Company under the policy, the amount
of insurance in force shall be deemed to be the amount which is in force as of the
date on which the insured claimant first learned of the assertion or possible
assertion of the claim, or as of the date of receipt by the Company of the first
.notice of the claim, whichever shall first occur.
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SLO- 904265 YH
Form No. 1402 -C
ALTA Standard Policy
Western Region
Nothing herein contained shall be construed as extending or changing the effecting date
of the policy.
This endorsement is made a part of the policy and is subject to the schedules, exclusions,
conditions and stipulations therein, except as modified by the provisions hereof.
First American Title Insurance Company
By:
Dillon - Authorized Si
F.A. Form 11.1 INFLATION /(CLTA/ALTA OWNERS)
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AGREEMENT N0. A- 07 -94 -CC
i
PURCHASE AND SAKE AGREEMENT
(Munch Property)
THIS PURCHASE AND SALE AGREEMENT ( "Agreement ") is dated
May 3, 1994 and constitutes an agreement by
which Jeannette G. Munch, Administrator of the Estate of Cecil
Leroy Munch, ( "Seller "), agrees to. sell, and CITY OF SAN LUIS
OBISPO, a chartered municipal 'corporation of the State of
California ( "Buyer "), agrees to purchase that certain real property
( "Property ") legally described in the attached Exhibit A,
incorporated herein by reference as though fully set forth,
commonly known as 3220 Bullock Lane,
APN 053- 071 -005, City of San Luis Obispo, California.
The terms and conditions of this Agreement, are as follows:
1. Purchase and sale. Seller agrees to sell to Buyer, and
Buyer agrees to purchase from Seller, the Property upon the terms
and conditions herein set forth.
2. Purchase Price. The Purchase Price of the Property shall
be One Hundred Sixty Six Thousand Five Hundred Dollars'($166,500)
cash.
3. Payment of Purchase Price. Prior to "Close of Escrow" as
defined below, Buyer shall pay the Purchase Price for the Property
by delivering to the Escrow Holder, (as defined below) for
disbursement to the Seller, as provided for in this Agreement, cash
or check, or warrant, of the City of San Luis Obispo, made payable
to Escrow Holder in the amount equal to the Purchase Price.
4. Conditions of Title. Fee simple absolute title to the
Property shall be conveyed by'Seller to Buyer by grant deed (which
grant deed shall be fully executed and acknowledged and deposited
A- 07 -94 -CC
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J by Seller into escrow prior to the close thereof, subject to no
reservations and subject only to the following conditions of title
( "Conditions of Title ").
a. A lien to secure payment of real estate taxes, not
delinquent;
b. Matters affecting the Conditions of Title created by, or
with the written consent of, Buyer.
With respect to any encumbrances securing obligations relative.
to the Property, including, but not limited to, deeds of trust,
Seller covenants she will cause the removal of all said
encumbrances by the Close of Escrow (as defined below).
Title shall be evidenced by the willingness of the Escrow
Holder to issue its C.L.T.A. owners form policy of title insurance
in the amount of the Purchase Price showing title to the Property
vested in Buyer, subject only to the Conditions of Title (at
Buyer's option, an A.L.T.A. policy of title insurance may be
substituted). Seller will furnish Buyer within ten (10) days of
the opening of-escrow a preliminary title report and the documents
reported as exceptions in it ( "title documents ") . Buyer shall
notify Seller in writing within ten (10) business days after
receipt of the report and the title documents of Buyer's
disapproval of any exception in it. If Escrow Holder (as defined
below) is unwilling to issue such insurance policy, or if Sellers
have not removed any exceptions disapproved by Buyer prior to the
Close of Escrow (as defined below), at Buyer's option and in
addition to any other remedies available to Buyer, all Escrow
2
Holder's obligations to the parties hereunder shall, terminate, the
Escrow Holder shall return to Buyer any sums which have been
deposited into Escrow by Buyer, and Seller shall bear the costs of
escrow. f
5. Escrow.
a. Opening of Escrow. Upon execution of this Agreement,
escrow accounts shall be opened expeditiously in a manner
acceptable with First American Title Insurance Company, San Luis
Obispo, CA ( "Escrow Holder "), Yolanda Herrera, Escrow Officer, for
the consummation of this transaction.
b. Close of Escrow. For the purposes of this
Agreement, the "Close of Escrow" shall be defined as the date that
the Grant Deed conveying the Property to Buyer is recorded in the
official records of the County of San Luis Obispo. The parties
agree to use their best efforts to effect the Close of Escrow, and
the parties shall be in a position to close no later than sixty
(60) days after escrow is opened (the "Closing Date ") . In the
event that this escrow fails to close by the.Closing Date (or as
extended by the mutual written agreement of the parties delivered
to Escrow Holder prior to the Closing Date) by reason of any
defaults hereunder, the defaulting party shall bear all costs and
expenses of escrow.
6. Costs and Expenses. The costs and expense of the title
insurance policy to be issued in favor of the Buyer pursuant to
paragraph 4 hereof, shall be paid by Seller. Buyer shall pay all
documentary transfer taxes payable in the recordation of the Grant
3
Deed and any other documents which the parties may mutually direct
to be recorded in the official records. The escrow fees of Escrow
Holder shall be split equally between Buyer and Seller. Escrow
fees shall include, but not be limited to, Escrow Holder's
customary charges to either party for document. drafting, recording,
and miscellaneous charges. Real property taxes and rents (if any),
for the Property shall be prorated as of the Close of Escrow.
7. Disbursements and Other Actions by Escrow Holder. Upon
the Close of Escrow, the Escrow Holder shall. promptly undertake all
of the following in the manner hereinbelow indicated:
a. Disburse all funds deposited with Escrow Holder by Buyer
in payment of the Purchase Price for the Property as follows:
(1) Deduct therefrom all items chargeable to account of
Sellers pursuant hereto and for the account of any
lenders of record, pursuant to separate instructions by
Sellers.
(2) The remaining balance of the funds so deposited by Buyer
shall be disbursed to Seller promptly upon the Close of
Escrow.
b. Cause the Grant Deed and any other documents which the
parties hereto may mutually direct to be recorded in the official
records.
S. Default. Seller agrees that if the within sale is not
completed as herein provided by fault of Seller, Buyer, at its
option shall be entitled, in addition to any other remedy now or
hereafter available to Buyer under the laws or judicial decisions
4
4 0 0
of the State of California, to compel Seller to perform its
obligations under this Agreement by means of a specific performance
proceeding.
9. Notices. All notices or other communication required or
permitted hereunder shall be in writing, and shall be personally
delivered or sent by registered or certified mail, postage prepaid,
return.receipt requested, at the following addresses:
Seller: Jeannette G. Munch
Administrator of the Estate of Cecil Leroy Munch
c/o Philippe B. Craig, Esq.
1016 Walnut Street
San Luis Obispo, CA 93401
Buyer: City of San Luis Obispo
Attention: Public Works Director
955 Morro Street
San Luis Obispo, CA 93401.
Notice shall be deemed given as of the time of personal delivery or
forty -eight (48) hours following deposit in the United States mail.
Notice of change of address shall be given by written notice in the
manner detailed in this paragraph.
10. Sellers' ReQresentations and.Aarranties.
a. In addition to any express agreements of Seller contained
herein, the following constitute representations and warranties of
Seller which shall be true and correct as of the Close of Escrow
(and the truth and accuracy of which shall constitute a condition
to the Close of. Escrow):
(1) There are no actions, suits, materials, claims, legal
proceedings 'or any other proceedings affecting the
Property or any portion thereof at law or in equity
5
before any Court or governmental agency, domestic or
foreign; 'excepting that said property is subject to a
probate court proceeding, and that the sale is subject to
presentment and approval by the probate court.
(2) Seller has not received any notices from governmental
authorities pertaining to violations of law or
governmental regulations with respect to the Property,
(3) Seller has no knowledge of any pending- or threatened
proceeding in eminent domain or otherwise by any public
entity which would affect the Property, or any portion
thereof, nor; does Seller know the existence of any facts
which might give rise to such action or proceedings.
(A) There exists a month -to -month rental agreement with
existing tenants of the residence on said property. The
current rent is $400 per month. The seller shall render
unto the buyer all rental agreements, any damage,
cleaning or prior collected "last month's rent ", if
applicable. Rents received shall be prorated based upon
date of close of escrow.
(5) There are no liens or encumbrances upon, claims to, or
covenants, conditions and restrictions, easements, right
of way, rights of first refusal, options to purchase, or
other matters affecting the Property except as contained
in the Conditions of Title.
(6) There is no material adverse fact or condition relating
to the Property, or any portion thereof (including but
6
0 a
not limited to the existence of any underground tanks or
pipelines or any hazardous waste or material) , which has
not been specifically disclosed in writing by Seller to
Buyer, provided, however, Seller makes no warranty that
the property will be free of any damage from or
infestation by wood - destroying pests and organisms,
including but not limited to termites, dry rot, and
fungi; and with respect to any said damages from or
infestation by wood destroying pests and organisms, Buyer
acknowledges that Buyer is purchasing the property solely
in reliance on Buyer's own investigation, in the
condition that it is in at Close of Escrow and that no
structural pest control inspection shall be required.
(7') Seller has the legal power, right and authority to enter
into this Agreement, and to consummate the transaction
contemplated hereby.
(8) There are no service or maintenance contracts, management
agreements or any other agreements which will affect
Buyer or the Property subsequent to the Close of Escrow.
(9), There are no encroachments onto the Property of
improvements located on any adjoining property nor do any
improvements located on the Property encroach onto any
other adjoining property.
(10) Seller warrants and represents that there are no
prescriptive or other easements affecting the Property.
b. In the event that, during the period between the
7
r •
execution of this Agreement, and the Close of Escrow,
Seller has actual knowledge of, learns of, or has a
reason to believe that any of the above representations
or warranties may cease to be true, Seller hereby
covenants to immediately give notice. to Buyer of the
change in circumstances. Upon. Seller notifying Buyer of
the change in circumstances, Buyer may, in addition to
any other recourse or remedy provided by law, at its sole
option, terminate this Agreement and all funds deposited
into Escrow or delivered to Seller in connection herewith
shall be immediately returned. Further, in the event
Buyer so elects to terminate, Seller shall pay all Escrow
costs, if any, incurred by both parties herein under this
Agreement.
11. Survival of Conditions. The covenants, agreements,
representations and warranties made in Paragraph (10) shall survive
the Close of Escrow and the recordation and delivery of the Grant
Deed conveying the Property to Buyer and any investigations by the
parties.
12. Successors and Assigns. This Agreement shall be binding
upon, and shall inure to the benefit of, the successors, heirs, and
assigns of the parties hereto.
13. Required Action of Buyer and Seller. Buyer and Seller
agree to execute all such instruments and documents and to take all
actions pursuant to the provisions hereof in order to consummate
the purchase and sale herein contemplated and shall use their best
8
efforts to accomplish the timely Close of Escrow in accordance with
the provisions hereof.
14. Entire Agreement. This Agreement contains the entire
agreement between the parties hereto relating to the Property, and
may not be modified except by an instrument in writing signed by
the parties hereto.
15. California Law. This Agreement has been entered into and.
.is to be performed in the State of California and shall be
construed and interpreted in. accordance with the laws of the State
of California.
16. Waivers. No waiver by either party of any provision
hereof shall be deemed a waiver of any other provision hereof or of
any subsequent breach by either party of the same or any other
provision.
17. Caption. The captions, paragraph and subparagraph
numbers appearing in this Agreement are inserted only as a matter
of convenience and in no define, limit, construe, or describe
the scope or intent of such paragraph of this Agreement, nor in any
way affect this Agreement.
13. No Broker's Fees or Commission, Buyer and Seller hereby
acknowledge that no broker's commission or finder's fee is payable
with regard to this transaction; and the Buyer and Seller each
( "Indemnitor" ) agrees to indemnify and hold the other harmless from
and against all liability, claims, demands, damages or costs of any
kind arising from or connected with any broker's or finder's fee or
commission or charge claimed to be due any person arising from
9
Indemnitor's conduct with respect to this transaction.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date and year first above written.
SELLERS
Jeannette G. Munch
Administrator of the Estate
of 'Cecil Leroy Munch
7 - ..
BUYER
CITY OF SAN LUIS OBISPO
• . '' 14 '
ATTEST:
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10
EXHIBIT A
Property Description
Real property located at 3220 Bullock Lane, San Luis Obispo,
County of San Luis Obispo, State of California, legally
described as follows:
That portion of Lot 119 of the San Luis Obispo Suburban Tract,
in the County of San Luis Obispo, State of California,
according to the map thereof filed in Book 1, Page 92 of
Records of Surveys, records of said. county described as
follows:
Beginning at a point on the Southwesterly line of said lot
said point is the point of beginning and is South 330 30'
East, 250 feet from the Northwest corner of said lot thence
South 330 30' East along said Southwesterly.line 176.83 feet
to the Northwest corner of the land described in the deed to
Louise G. Bell, recorded June.9, 1945 in Book 383, Page 321 of
Official Records; thence North 560 30' East along' the
Northwesterly line of the land described in said deed 183.94
feet; thence North. 00 22' 'West 144.84 feet; thence
Southwesterly along the Southerly line of the land described
in the deed to Russell D. Bullock, et ux., recorded November
6,11950 in Book 585, Page 336 of Official Records and along
the Southerly line of the land described in the deed to
Richard N. Bullock, et. ux. , recorded November 6, 1950 in Book
585, Page 337 of Official Records, to the point of beginning.
Excepting therefrom that portion thereof heretofore deeded by
the grantor to Elwood E. Munch.and Dolores M. Munch by deed
dated November 1, 1956, and recorded in Volume 868, Page 352,
Official Records of San Luis Obispo.County.
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