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Home My WebLink About4875 - Real Property Surplus Salei:'I-JC : me c 10/22/58 • RESOLUTION NO. �e A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH DECLARING CERTAIN REAL PROPERTY TO BE SURPLUS, AUTHORIZING ITS SALE AND SETTING OUT THE PROCEDURE FOR ITS SALE WHEREAS, the City has title to the real property herein- after described; and WHEREAS, it appears that there is no present or prospec- tive need for said property and it would, therefore, be in the best interests of the City to sell the same under the following terms, procedure and conditions; NOW, THEREFORE, BE IT RESOLVED that the City Council hereby finds, determines, resolves and orders: Section 1. Surplus Property - Description. The City Council hereby finds and determines that the hereinafter described City -owned real property is surplus property and there is no present or prospective need for it. Lots 9 and 11 of Block 440, Corona del Mar, as shown upon a map recorded in book 3, pages 41 and 42 of Miscellaneous . Maps, Records of Orange County, California, situated in the City of Newport Beach, County of Orange, State of California. • i I3V 13� Section 2. Minimum Price - Sealed Bids - Deposit. • Said property is hereby offered for sale and bids therefor are • invited under the procedure of sealed bidding and public auction as hereinafter set out. The minimum bid the City Council will consider for the sale of said property is Sixteen Thousand Dollars ($16,000.00). Each bid must be sealed and submitted to the City Clerk by 7:30 P. M. on November 24, 1958. Each bid must be unconditional and must identify the land described herein for which it is submitted, and be accompanied by a deposit of cash or a certified or cashier's check payable to the City equal to ten per cent (10 %) of the minimum bid set out above to guarantee that if the City accepts the sealed bid or an oral bid made at the auction by the bidder said bidder will complete the purchase and within thirty (30) days pay the amount of his bid that was accepted by the City. The deposit or check of the successful bidder shall be applied to the pur- chase price. All others shall be returned to the bidders. Failure of the successful bidder to complete the purchase and pay as above required shall result in forfeiture of the deposit to the City. Names of bidders shall not be disclosed until the bids are opened. Section 3. Opening Bids - Public Auction. The sealed bids shall be opened and publicly announced at a City Council meeting in the City Council Chamber at 7:30 P. M. on November 24, 1958. The Mayor shall conduct the auction and shall an- nounce the name of the highest bidder on the sealed bids and shall then call for oral bids. Each person who has submitted a • qualified sealed bid accompanied by a cash deposit or check as • required may make oral bids on the land for which he has submit- ted a sealed bid. Before making an oral bid, any person who has not submitted a qualified sealed bid must submit a cash deposit or certified or cashier's check equal to fifteen per cent (15 %) 2. o of the minimum bid set by the City Council on the parcel on which such person wishes to bid. To be considered, the first oral bid • must exceed the high sealed bid by ten per cent (10;x) of the • amount of such high sealed bid. Upon receiving the highest bid obtainable from a quali- fied bidder, the Mayor shall declare the property sold to the bid- der making the bid subject to approval of the City Council. Section 4. Withdrawal from Sale. The City Council reserves the right to reject any and all bids or to withdraw the property or any interest therein from sale at any time. Section 5. Deed - Title Insurance - Internal Revenue Stamps. Upon completion of the sale and payment of the amount of the bid, the City brill execute agrant deed to and furnish at its expense a standard owners policy of title insurance in the amount of the successful bid showing title,vested in the party or parties designated by the successful bidder subject to taxes, assessments and similar burdens and to covenants, conditions, restrictions, reservations, rights, rights of way and easements, if any. The City will not pay for recording or the cost of Internal Revenue stamps. Section 6. Inability to Convey. If the property cannot legally be sold by the City or the City is unable to convey mar- ketable title within a reasonable time after the date of sale, the sale shall be void and deemed mutually cancelled, and any price paid or deposit made shall be refunded and no liability of the 3• City shall exist or arise from such cancellation. Section 7. No Warranty. No warranty is made or intended . by any statement in this resolution or the notice of sale or other- wise with respect to location, size, zone or utility of any prop- erty or interest therein which is sold or offered for sale. Section 8. Notice of Sale - Publication. The City Clerk shall prepare a notice of sale setting out the location, description, zone and approximate size of the parcel or parcels of property being offered for sale, the date, place and time the 3• • • • • bids will be received and opened, the fact that additional in- formation may be obtained from the City Clerk's office, and the minimum price set by the City Council. The notice shall be pub- lished once a week for three (3) successive weeks and copies shall be available in the Clerk's office and copies will be mailed by the City Clerk upon request. Section 9. Commission. Payment of a maximum total com- mission of five per cent (5 %) of the sales price shall be paid to the real estate broker or brokers entitled thereto, if any, under the following conditions: (a) The property must be actually sold and the sales price paid to the City. (b) Only licensed real estate brokers shall be eligible to be paid a commission. (c) A sealed bid upon which a commission is to be claimed shall so state and shall name the broker who has obtained the bid on behalf of the City and has thereby established eligibility for the commission or a share of it. (d) A person making a deposit of fifteen per cent (15 %) by cash or check as permitted in Section 3 hereof may at the time of submitting such deposit name the broker who has obtained the bidder and has thereby es- tablished eligibility for the commission or a share of it, (e) The real estate broker, if any, named in the highest qualified sealed bid shall receive two and one -half per cent (2-ff%) of the amount of such bid as commission. (f) The real estate broker, if any, named in the sealed bid or the real estate broker, if any, named with the deposit of fifteen per cent (15 %) submitted by the bidder to whom the property is sold shall 4. 13+ receive that portion of the total commission not paid under (e) above. • • This resolution was adopted by the City Council of the City of Newport Beach at an adjourned regular meeting on the 24th day of October, 1958, by the following vote, to wit: ATTEST: • • MARGERY SCHROUDER City Cler AYES, COUNCILMEN: NOES, COUNCILMEN: ABSENT COUNCILMEN: a JAMES B. STODDARD Mayor STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF NEWPORT BEACH ) • I, MARGERY SCHROUDER, City Clerk of the City of Newport Beach, California, do hereby certify that according to the records of the City of Newport Beach filed and maintained in my office, the foregoing Resolution No. 4875 was duly and regularly adopted, passed, and approved by the City Council of adjourned the City of Newport Beach, California, at aftegular meeting of said City Council held at the regular meeting place thereof, on the 24th day of on tnhPr 1958, by the following vote, to wit: AYES, COUNCILMEN: Hart, Lorenz, Somers, Atkinson, Hi_gbie, Stoddard NOES, COUNCILMEN: None ABSENT, COUNCILMEN- Kingsley Dated this 28th day of October 1958. 0 0 S �L'4' tTt—y—Tler an& Ex -Ot icio Clerk of the City Council, City of Newport Beach, State of California. I' 1