HomeMy WebLinkAbout1997 - Sale of Property to Lincoln & Gladys Normans
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RESOLUTION NO.,
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WHEREAS, on the 4th day of October, 1937, the City of
Newport Beach sold to LINCOLN H. NORMAN and GLADYS H. NORMAN,
husband and wife, as joint tenants, under contract, all that
certain real property situated in the City of Newport Beach,
County of Orange, State of California, and more particularly
described as follows, to -wit:
Lot Nine (9) in Block °A°, of Tract No. 673
Corona Del Mar, in the City of Newport Beach,
as shown on a Map recorded in Book 20, pages
17 and 18 of Miscellaneous Maps, records of
Orange County, California.
for the sum of $400.00, payable as follows: $100.00 upon the
execution of the contract, and the balance of $300 in the follow-
ing manner: 420.00 or more on the 4th day of each and every
month thereafter until the full amount of $400 shall have been
paid, with intbrest at the rate of 6 percent per annum payable
monthly; and
WHEREAS, the said Lincoln H. Norman and Gladys H. N
have paid the purchase price of said property in full and now are
entitled to a deed and polity of title insurance as in said
contract provided, showing said title vested in the said Lincoln
H. Norman and Gladys H. Norman, husband and wife, as joint
tenants with the right of survivorship; and
WHEREAS, in the opinion of the City Council of the City
of Newport Beach the sum of $400.00 for said described property w
and is a fair and just consideration and said purchase price of
$400.00 is not disproportionate to the acutal market value of s
property; and
WHEREAS, the City Council of the City of Newport Beach
deems that it is for the best interests and benefit of said City
that said property be sold and a deed be given thereto as in
said contract provided.
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NOW, THEREFORE, BE IT RESOLVED: That J. A. Gant, as
Auditor of the City of Newport Beach, be and he is hereby
instructed and directed to obtain for the purchasers of said
property as in said contract provided, a Policy of Title Insurance
showing the title to be vested in said Lincoln H. Norman and
Gladys H. Norman, husband and wife, as joint tenants with the
right of survivorship, free and clear of all encumbrances except
such encumbrances or liens made or suffered by said Lincoln H.
Norman and Gladys H. Norman, husband and wife, and.3 subject to al]
taxes and assessments noV3 of record.
BE IT FURTHER RESOLVED: That the Mayor and City Clerk
of the City of Newport Beach be, and they are hereby directed,
authorized and instructed to make, execute and deliver to the
said Lincoln H. Norman and Gladys H. Norman, a good and sufficien,
deed to said described property, in form this day presented.
BE IT FURTHER RESOLVED: That the sum of $40.00 be paid
to Frank Andrews, as and for his commission for the negotiating
of the sale of said real property to Lincoln H. Norman dnd Gladys
H. Norman, his wife, as joint tenants, said sum being a fair and
reasonable commission to be allowed in said sale, and said
broker being a licensed realtor of the City of Newport Beach.
I hereby certify that the above and foregoing Resolutto
was duly and regularly passed and adopted by the City Council of
the City of Newport Beach at a regular meeting thereof held on th
2nd day of September, 1940, by the following vote, to-wit-
AYES,. COUNCILMEN: NEED CLAIRE Im
BROWN GORDON
AT ►ST:
City Clerk
ALOES,
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