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HomeMy WebLinkAbout1723 - Sale of Property to Lawrence & Pauline Lushbaugh1 RESOLUTION N0. o�, %c 2 3 WHEREAS, on the 3rd day of January, 1938, the City 4 of Newport Beach sold to LAWRENCE LUSHBAUGH and PAULINE LUSHBAUGH, 5 husband and wife, as joint tenants, under contract, all that 6 certain real property situated in the City of Newport Beach, 7 County of Orange, State of California, and more particularly 8 described as follows, to —wit: 9 The Southeasterly 40 feet of Lot 1 in Block "D" of Tract No. 323, in the city of Newport 10 Orange County, California, 11 for the sum of $600.00, payable as follows: $100.00 upon the 12 execution of the contract, and the balance of $500.00 in the 13 following manner: $20.00 or more on the lat day of February, 14 1938, and like payments of $20.00 or more on the let day of 15 each and every month thereafter until the full sum of $600.00 16 should have been paid, together with interest at the rate of 17 six percent per annum, payable semi— annually; and 18 WHEREAS, the said Lawrence Luehbaugh and Pauline 19 Luehbaugh have paid the purchase price of said property in full and now are entitled to a deed and policy of title insurance as in 20. said contract provided, showing said title vested in the said 21 22 Lawrence Luehbaugh and Pauline Luehbaugh, husband and wife, as Joint tenants with the right of survivorship; and 23 WHEREAS, in the opinion of the City Council of the 24 City of Newport Beach the sum of $600.00 for said described proper.. 25 ty was and is a fair and just consideration and said purchase price 26 of $600.00 is not disproportionate to the actual market value 27 of said property; and 28 WHEREAS, the City Council ofthe city of Newport Beach 29 deems that it is for the best interests and benefit of said city • 30 that said property be sold and a deed be given thereto as in said 31 contract provided. 32 LAW OFFICES OF ROLAND THOMPSON 310 SPURGEON BUILDING SANTA ANA. CALIFORNIA 1. 111 NOW, THEREFORE, BE IT RESOLVED: That J. A. Gant, as 2 Auditor of the city of Newport Beach, be and he ]s3 hereby 3' 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 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 the said Lawrence Lushbaugh andPauline Lushbaugh, 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 Lawrence Lushbaugh and Pauline Lushbaugh, husband and wife, and subject to all taxes and assessments nor 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 Lawrence Lushbaugh and Pauline Lushbaugh, a good and sufficientdeed to said described property, in form this day presented. I hereby certify that the above and foregoing Resolution was duly and regularly passed and adopted by the City Council of the city of Newport Beach at a regular meeting thereof held on the 5th day of February, 1940, by the following vote, to —wit: y. 28 �� t29, ATTE -' 30- F 31_ �. 32 LAW OFFICES OF ROLAND THOMPSON 310 SPURGEON BUILDING SANTA ANA. CALIFORNI. , COUNCILMEN: V , r Q:n F T `a '% y e-1 NOES, COUNCILMEN: ABSENT, COUNCILMEN: ayo ArftheWityo ewport Beach 20