Loading...
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 5 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 2. 1' Company, dated December 31, 1963, to Tri -City Savings and Loan 2 Association as agent for Norman B. Moore,.et ux, Harry V. Anderson, 3 et ux, and Barry G. Lnderson who, as tenants in common, are the 4 trustors under said deed of trust, the makers of said note, and the . 51 vestee under said policy of title insurance, to be used by said 6! escrow holder when it has collected and holds for the City the 7 amount of $27,777.78, together with interest thereon at the rate of 8 6% per annum from December 26, 1964, until paid. 9 ADOPTED this 25th day of January, 1965. 11 Mayor 12T�T: L S V�n W city Clerk 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 2. 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.