HomeMy WebLinkAbout6105 - Beneficiarys Demand1/lP/65 (12)
1 R3SOLUxI0N NO. s_LlAS
2 A SOLUTION OFa T113 CITY COUNCIL OF TIC CITY OF
Nom'eM aT BEACH AUTHORIZING 4XI) DIRECTING TIM
3 MaliC'JTION OF. A. MZINPIFIQ.IARYYS .DMA 6;ND. LAND A, 1,13QUBST
FOR 1�WCOM1T3ya1CZ ON Q DIED OF _MUST AND TIC
• 4 PIZ CiN: OL+ IEC Ul"INTS IN . , SCt3OSi
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61 13FI.+R &LS9 the City of Newport Beach is named as benefit
71 in a deed of trust dated December 26, 1963, and recorded in Hook
8 6864, page 884, of Official Records of Orange County, given to
9 secure a note dated December 26, 1963, in favor of the City of
10 Newport Beach in the amount of $41,666.67; and
11 IMMUP.S, there is still unpaid on the indebtedness to
12 the City evidenced by said note the principal amount of $27,777,78,
13 together with interest thereon at the rate of 6% per annum from
14 December 26, 1964, until paid; and
15 IMMMAS, the matters of said note have opened an escrow
16 with Tri -Cbty Savings and loan Association which provides for the
17 payment of the encumbrance in full; and
18 nJH .,,S, Tri -City Savings and loan Association has re-
19 quested that a beneficiary's demand directed to it and the request
20 for full reconveyance on the original of said deed of trust be
21 executed and that the City place in said escrow the beneficiary's
22 demand, the deed of trust and note secured thereby, and the title
23 insurance policy held in connection therewith, to be used by the
24 escrow holder when it has collected and holds for the City the
25 amount required to pay the indebtedness to the City in full;
26 NOv,, T&3 FC'1£, it is ordered and directed as f llows:
27 1. The Mayor and City Clerk are authorized and directed
28 to execute said beneficiary's demand and the request for full re-
29 conveyance on the original of said deed of trust.
30 2. The City Clerk is authorized and directed to transmit
31 said beneficiary's demand, deed of trust, note, and title insurance
32 policy No. 832486 issued by First American Title Insurance & Trust
e
y Ii
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Company, dated December 31, 1963, to Tri -City Savings and Loan
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Association as agent for Norman B. Moore,.et ux, Harry V. Anderson,
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et ux, and Barry G. Lnderson who, as tenants in common, are the
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trustors under said deed of trust, the makers of said note, and the
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vestee under said policy of title insurance, to be used by said
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escrow holder when it has collected and holds for the City the
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amount of $27,777.78, together with interest thereon at the rate of
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6% per annum from December 26, 1964, until paid.
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ADOPTED this 25th day of January, 1965.
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Mayor
12T�T:
L
S
V�n W
city Clerk
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )
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. R - 6105
was duly and regularly
adopted, passed, and approved by the City Council of the City of Newport
Beach, California, at a regular meeting of said City Council held at the
regular meeting place thereof, on the 25th day of January ,
19 65 , by the following vote, to wit:
AYES, COUNCILMEN: Stoddard, Forgit, Cook, Gruber, Elder,
Marshall, Parsons
NOES, COUNCILMEN: None
ABSENT, COUNCILMEN: None
Dated this 26th
day of January 1965
•� J
City Clerk knd E -Officio Clerk of the
City Council, City of Newport Beach,
State of California.