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HomeMy WebLinkAboutD-250 Mission Vineyard T. Recorded 05/06/1957VDL 8�2 PAGE5O3 J .7999 OPTION FOR SALE AND PURCHASE OF iiEAL PROPERTY THIS OPTION made this 6th day of May , 1957, by and between THEO M. MAINO, hereinafter for convenience only sometimes referred to as "Seller" and the CITY OF SAN LUIS OBISPO, hereinafter for convenience only sometimes referred to as "Buyer" % W I T N E S S E T H: IN CONSIDERATION of One Dollar ($1.00) 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 terns 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 Standard 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: Lot 14, the Northwesterly 30 feet of Lot 15 and the borthwesterly 80 feet of Lots 10 and 11, in Block 100, of Mission Vineyard Tract, in the-City of San Luis Obispo, County of San Luis Obispo; State of California, according to the map thereof recorded in Book A, Page 113 of Maps in the office of the County Recorder of said County. Excepting therefrom a parcel of land in the Northwesterly corner of Lot 14. Said parcel measuring 35 feet on Chorro Street and 100 feet deep. The Buyer hereby acknowledges that said property is subject to a conditional life estate in favor of Lillian Pezzoni, a widow, as set out in the grant deed dated a January 19, 1957, between Lillian Pezzoni and Seller. w 2. EXERCISE OF OPTION: Said option may be exercised any tune subsequent to ZZ the date hereof and prior to the expiration time set forth above by delivering written notice of exercise of this option addressed to Seller at 2238 South Broad Street, San Luis Obispo, California. Said written notice shall be deemed delivered to Seller within 48 hours of W the depositing thereof postage prepaid, certified mail, at any United States Post C� Office in the State of California, but Buyer may elect to hand deliver by messenger or 1 ..J. U 2? ur1+.J'' q4 u n';I q `i .ii •i'71 A2 � G^- .LV I�`i�i bm vd ItTco.1 t. 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PURCHASE 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 Two Dollars and Seventy -two Cents ($2.72) per square foot of said real.pro erty hereinabove described. 06a � Xxr aJ c $ iS_ paIL 4 6 y. pm .., - �ie+� Ka- dpi 4,46,2.- � zwP li krmu w&,v, k4&, F41z e.,. 4. ESCROJ: Within two business days, and Saturdays and Sundays are hereby defined as not being business days, 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. (d) Title to the real property shall be delivered to Buyer free and clear excepting for covenants, conditions, restrictions, easements, rights and rights of way of record, all of which shall be subject to the approval of Buyer within fourteen M) days of the receipt of a Preliminary Title -R Report. Title shall also be subject to current unpaid real property taxes.. u�t,� (e) All expenses of said escrow shall be paid for by - . (f) Possession shall be given to Buyer at the close of escrow. 5. AUTHOR -ITY AIM 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 r n -c property. M 6. SUCCESSORS IN INTEREST: This option is binding on the executors, � cn 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 5i VOL 892 PAGE,, 'l . o said property by the end of said two year lease period at the purchase price and upon the conditions stated hereinabove. Said option to lease may be exercised at any time prior to the expiration time set forth in paragraph 1. IN WITMESS WHEREOF, the undersigned have executed this option the year and day first above written. STATE OF CALIFORNIA SELLER: r l THEO M. MLINO BUYER: CITY OF SAN LUIS OBISPO mayof �y Attest: City C (SEAL) ) ss. ACKNOWLEDC,1ENT COUNTY OF SAP" LUIS OBISPO ) On , 1957, before me personally appeared THEO M. 14AINO, known to me to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same. w i P Notary Public in and for,sai County and State: (SEAL) 3 a CO Cr1 CL� . f 5i VOL 892 PAGE,, 'l . o said property by the end of said two year lease period at the purchase price and upon the conditions stated hereinabove. Said option to lease may be exercised at any time prior to the expiration time set forth in paragraph 1. IN WITMESS WHEREOF, the undersigned have executed this option the year and day first above written. STATE OF CALIFORNIA SELLER: r l THEO M. MLINO BUYER: CITY OF SAN LUIS OBISPO mayof �y Attest: City C (SEAL) ) ss. ACKNOWLEDC,1ENT COUNTY OF SAP" LUIS OBISPO ) On , 1957, before me personally appeared THEO M. 14AINO, known to me to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same. w i P Notary Public in and for,sai County and State: (SEAL) 3 a CO Cr1 CL� � 2 ;cl SOB ; f r' iT. -E- br s 30.' ^ ^% 9andl -liucr 9ji,+ t3 ,^.o -iqq 3°_69.1. is 9V ow,+ btza 3:0 bag 9.'iJ Tjd -,Z3•`i9Ci0':a btsZ bSZ.i:O `I9>:3 30 '•r !im sas©i o.�`i rroi ,+0o b±zP,, . evodsmLeag i beJ's� Z afjOt3'.Lbrt00 9.t ,+ - 0qu I riasKn's•rsa a± ifi m }. z'9Z Or-tt rtoi,tb•TtgK9 9" o3 zOi'xq eirdt -ms baz 'IE9,r 9rji rjo±V q, ° i ;,+ b9tue9re evsri bsrjaia'rebak; Sri 1 . ns tfi �Ta svods ta7i3 ',rsb 1 ,r ♦V S' 118 FdyuE Cq,°.1t {) Gil T _A8 io Yi 1C 5 r L dZ� Ll•��\ w (LiA22 ) ( Vf! -IE'0 ?_J -rTT JL 7D L'T."T,')D 9't029dd iS�F?j\ fix• fYJ U ai arsj*_ eaoHr; ao isa oAt 9u of 9m of m;orrp �0'rtAT_ .Tf 02H'I bszs9gq.s 'CSlsn0870a ,4"TS'.'. 9 .t b9,1- j1:J9:_;: 9:1 .tz["i.'1• il9Jb3.LT80R}1 .iJ'!s ��[19rUf"!'.t ?.rtt fliji.i T.; 9rjyi off' b9(i- C'YOac:rjra a��:o? 5res ttt oisduu irir.;o51 olj' y¢i bns mroJ ( .Aga ) �VOL _ 892 PAGF506. rsoLUlrou Flo. 209 (1957 Series) A Rr:S0,15Y'ION ACCEPTIPIG OPTIOTIS ON T'H"sEE PARCELS OF WID TO 32 USE FOR OFF- ST"HEBT PAIIKING R- DOSES. HE IT FE-SOLVED by t2 s Cowicil of tl-3 City of San Luis Obispo as follo7gm: 1. Peat the option from ` .Iwo M. ita no. covering land therein &seribad and located in the City of San Lifts Obispo is haraby accepted. 2. Brat the option from G. C. Hwgphrey, Darold P. KdaertDes Robar"� H. Peters, end I %rlyan Carpenter covering land therein described and located :W tha City of San ?axis Obispo is bssffiby acceptedo 3. Irat the options fran C. C. H=W%rey, Dorothy Huamhroyt Perbert Landack,, w4 Lucille Landack covering Imid therein described and Located in the City of Sacs Luis Obispo is hareby acceptedo 4. That the Mayor a-rid City Clerk asp bareby vlathorized to execute on behalf of the City of San Luis Obispo said optional, and that the City Clerk ie hereby directed to record said optionso PASSED AND ADOPM this 6th day or r'iaY a 1957: by the foll.o-ring roll can vote t AYES: Nels Beck, Lowell E. Christie, Kenneth W. Jones, Fred H. Lucksinger, J. Barry Smith Pb�S: None AtPSEFN't None /s/ Fred H. Lucksinger or. ATTEST: /s/ J. H. Fitzpatrick MY ulsi;E En En j WL 892 PACE507 1D J, H. Fitzpatrick, the duly elected, qualified and acting City Clerk of the City of San_ Luis Obispo, do hereby certify that the foregoing is a full, tree and correct copy of Resolution No. 209 {1957 Series, passed and adopted by the Council of the City of San Luis Obispo on the 6th day of May „ 19570 eT1TNESS any hand and the seal of the City of San Luis Obispo this 13th day of May a '957, G y Clerk l _'7.909 ,EFf� t &afrF EP,,! F, OF AT_�- f�glN. PASTS M. v0 -"2--"ZCw'ficial RecordsPr�o.3 SAN LUIS CaISPO COUNTY, CAL. ''AMY 2 1 1957 Colin order By- - - -- ty Fee _Inde?;��'