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Property Sold - Brookhurst Street & Adams Avenue
LENS - GUM LUS INrOKMATION FELL eST/\TC crry OF NMwrORT Se^c", CALIPol;eNv\ 4th AND FINAL DRAFT L E A S E I N F O R M A T I O N SURPLUS REAL ESTATE PROPERTY LOCATED SOUTHEAST CORNER BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA PUBLIC HEARING AND LEASE September 22, 1969 - 7:30 P.M. COUNCIL CHAMBERS, CITY OF NEWPORT BEACH 3300 NEWPORT BOULEVARD NEWPORT BEACH, CALIFORNIA LEASE OF PROPERTY: DATE OF LEASE: DESCRIPTION OF PROPERTY: LEASE INFORMATION PROPERTY LOCATED AT SOUTHEAST CORNER OF BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA The City Council of the City of Newport Beach has declared its intent to offer for lease approx- imately 1.93 net acres of land located at the southeast corner of Brookhurst Street and Adams Avenue in the City of Huntington Beach, California, for a term of twenty - five (25) years. A public hearing will be held in the Council Chambers, 3300 Newport Boulevard, Newport Beach, California, on Monday, September 22, 1969, at 7:30 P.M. Notices of intent to lease will be posted and advertised as described in the attached Resolution No. adopted by the Newport Beach City Council on July 28, 1969. The legal description of the parcel is described as follows: "The North 350.00 feet of the West 340.00 feet of Section 8, Township 6 South, Range 10 West, in the Rancho Las Bolsas, city of Huntington Beach, County of Orange, state of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the office of the County Recorder of said County. "Except the West 60.00 feet thereof and also except the North 50.00 feet thereof'. The property includes the entire area listed as Parcels "A" through "D" on the attached drawing marked Exhibit "I ". The City of Newport Beach will reserve a right on parcels "C" and "D" to develop, produce and trans- port water, but said easement should not interfere with the surface development of the property to any great degree. Page 2 MINIMUM LEASE PRICE: The minimum acceptable net lease proposal for use of the property shall in the aggregate be Twenty- two Thousand, Seven Hundred Dollars ($22,700) per year; the minimum acceptable net lease proposal for parcel "A" alone shall be Thirteen Thousand Dollars ($13,000) per year; the minimum acceptable net lease proposal for parcels "B", "C" and "D" shall be Nine Thousand Seven Hundred Dollars ($9,700) per year; the minimum acceptable net proposal for parcel "B" shall be Four Thousand Seven Hundred Dollars ($4,700) per year; the minimum acceptable net lease proposal for parcel "C" shall be Four :Thousand One Hundred Dollars ($4,100) per year; the minimum accept- able net lease proposal for parcels "B" and "D" shall be Five Thousand Six Hundred Dollars ($5,600) per year; the minimum acceptable net lease proposal for parcels "C" and "D" shall be Five Thousand Dollars ($5,000) per year; the minimum acceptable net lease proposal for Parcel "D" shall be Twelve Hundred Dollars ($1,200) per year. The minimum lease rental proposals shall be offset against a fixed percentage of gross receipts for each respective parcel. The conditions of the lease are that the first years rental money must be paid in cash before execution of the lease document. The lease proposal deposit hereinafter set forth and required will be applied to the lease payment monies referred to above. SUFMITTAL OF PROPOSALS: Sealed lease proposals must be received prior to 5:00 P.M. on Friday, September 19, 1969. These lease proposals will be opened and the pertinent provisions tabulated prior to the public hearing to be held in the City Council Chambers on Monday, September 22, 1969 at 7:30 P.M. Sealed lease proposals may be mailed or de- livered to the Office of the City Manager, City of Newport Page 3 SUBMITTAL OF PROPOSALS (cont' d) Beach, 3300 Newport Boulevard, Newport Beach, California 92660, on or before September 19, 1969 prior-to 5:00 P.M. Envelopes of sealed lease proposals should be distinctly marked - SEALED LEASE PROPOSAL - "Property Located at the Southeast Corner of Brookhurst and Adams in Huntington Beach, California ". At the September 22, 1969 City Council meeting, oral lease proposals will be called for. Any oral proposals for the leasing of one or more of the respective parcels, to be considered, must be upon the terms and conditions specified herein, and must exceed the highest lease proposal previously submitted in writing for each respective parcel by at lease ten percent (10 %). The highest of the oral or written lease proposals for each respective parcel satisfying the above conditions shall be accepted for analysis and recommendation at the City Council meeting of October 13, 1969 after the pro- posals are reduced to writing and signed by the offeror. Oral bidders who have not filed a written sealed lease proposal shall prior to bidding ALSO DEPOSIT A CERTIFIED OR CASHIER'S CHECK IN THE AMOUNT OF THE MINIMUM RENTAL FOR ONE YEAR FOR THE RESPECTIVE PARCEL BEING BID UPON. Checks are to be made payable to the order of the City of Newport Beach. LEASE PROPOSAL DEPOSIT: All lease proposals, whether written or oral, must be accompanied by a certified or cashier's check equal to the minimum annual rental for each respec- tive parcel for which a lease proposal bid has been made (see Page 2). The deposit of the successful bidder will be retained by the City of Newport Beach and applied toward the lease payment monies which will be due the City in conjunction with the leasing of the respective parcels referred to above. RENTAL ADJUSTMENT: Page 4 There will not be any reappraisal adjust- ment in the lease rental during the twenty -five (25) year team of the lease. However, in order to keep abreast of current economic conditions, there will be a lease rental adjustment every five (5) years for each respective parcel leased in accordance with the Los Angeles -Long Beach Consumer Price Index of the U. S. Bureau of Labor Statistics. ZONING: The property is zoned C -2, Community Bus- iness District_ Zoning permits community shopping centers, catering establishments and all C -1 or neighborhood commercial uses, including service stations. SUBJECT PROPERTY: The subject property comprises a net of 1.93 acres of land located at the southeast corner of Brookhurst Street and Adams Avenue in the City of Huntington Beach, California. The property has a net frontage of three hundred feet on Brookhurst Street and a net frontage of two hundred and eighty feet on Adams Avenue. This is a major intersection, with Brookhurst Street the north -south arterial running from the Pacific Coast Highway northerly past the San Diego Freeway. Adams Avenue is an east -west arterial which serves as one of the major intercollecting links serving the communities of Huntington Beach and Costa Mesa, California. TOPOGRAPHY: Level and at street grade. LEASE ESCROW: The bidder whose lease proposal(s) is (are) accepted by the City Council must execute the lease agree - ment(s) for the respective parcel(s) within thirty days of the date of acceptance of the lease proposal(s) by the City Council. M Page 5 CCWISSION: Lease proposals will be evaluated on the basis of the gross amount of the lease monies proposed for each respective parcel. In those instances where real estate brokers are utilized in conjunction with the processing of lease proposals, the standard real estate fee schedule for the leasing of property shall apply, as set forth in the Los Angeles Realty Board Schedule of Commissions, a copy of which is posted at the office of the City Clerk (Realty fees paid shall be computed at three percent (3 %) of the total rental for the first five years and at one and one -half percent (1' %) of the total rental for the balance of the term). Commission payments shall be deemed earned in full and shall be paid upon the signing of any given lease by City and the respective leasee. Subsequent "cost of living" adjust- ments referred to on Page 4 shall not be applicable to real estate commissions paid upon execution of the lease document(s). 120 E'X/7 � Nw cve 54F4 8 Pa..A PCL. B Pcz. c FI:G. D TO T4 L T Ir .4vE. ...e a- 0 za, soo °;.t 84, o00 ° /. 9e4c. Alan CITY OF NEWPORT BEACH DRAWN 41" DATE- �' %6 -�9 PUBLIC WORKS DEPARTMENT APPROVED APOAER ry POQ [. EASE AT A/TE,QSEV W O-' 8800 110ogST Fr '40.4M5 DRAWING Na /N HUN T /N6TON 5,46AV on m. xm_ m m m m m m m m m i LERSE INFORMATION .,SURPLUS REAL ESTATE city of newport beach, call fornia L E A S E I N F O R M A T I O N SURPLUS REAL ESTATE PROPERTY LOCATED SOUTHEAST CORNER BROOKHURST STREET AND ADAMS AVENUE HUNINGTON BEACH, CALIFORNIA PUBLIC HEARING AND LEASE September 22, 1969 7:30 P.M. COUNCIL CHAMBERS, CITY OF NEWPORT BEACH 3300 NEWPORT BOULEVARD NEWPORT BEACH, CALIFORNIA LEASE OF PROPERTY: DATE OF LEASE: DESCRIPTION OF PROPERTY: LEASE INFORMATION PROPERTY LOCATED AT SOUTHEAST CORNER OF BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA The City Council of the City of Newport Beach has declared its intent to offer for lease approx- imately 1.93 net acres of land located at the southeast corner of Brookhurst Street and Adams Avenue in the City of Huntington Beach, California, for a term of twenty - five (25) years. A public hearing will be held in the Council Chambers, 3300 Newport Boulevard, Newport Beach, California, on Monday, September 22, 1969, at 7:30 P.M. Notices of intent to lease will be posted and advertised as described in the attached Resolution No. 7047 adopted by the Newport Beach City Council on July 28, 1969. The legal description of the parcel is described as follows: "The North 350.00 feet of the West 340.00 feet of Section 8, Township 6 South, Range 10 West, in the Rancho Las Bolsas, city of Huntington Beach, County of Orange, state of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the office of the County Recorder of said County. "Except the West 60.00 feet thereof and also except the North 50.00 feet thereof'. The property includes the entire area listed as Parcels "A" through "D" on the attached drawing marked Exhibit "I ". The City of Newport Beach will reserve a right on parcels "C" and "D" to develop, produce and trans- port water, but said easement should not interfere with the surface development of the property to any great degree. Page 2 MINIM[M LEASE PRICE: The minimum acceptable net lease proposal for use of the property shall in the aggregate be Twenty- two Thousand, Seven Hundred Dollars ($22,700) per year; the minimum acceptable net lease proposal for parcel "A" alone shall be Thirteen Thousand Dollars ($13;000) per year; the minimum acceptable net lease proposal for parcels "B ", "C" and "D" shall be Nine Thousand Seven Hundred Dollars ($9,700) per year; the minimum acceptable net proposal for parcel "B" shall be Four Thousand Seven Hundred Dollars ($4,700) per year; the minimum acceptable net lease proposal for parcel "C" shall be Four Thousand One Hundred Dollars ($4,100) per year; the minimum accept- able net lease proposal for parcels "B" and "D" shall be Five Thousand Six Hundred Dollars ($5,600) per year; the minimum acceptable net lease proposal for parcels "C" and "D" shall be Five Thousand Dollars ($5,000) per year; the minimum acceptable net lease proposal for Parcel 'D" shall be Twelve Hundred Dollars ($1,200) per year. The minimum lease rental proposals shall be offset against a fixed percentage of gross receipts for each respective parcel. The conditions of the lease are that the first years rental money must be paid in cash before execution of the lease document. The lease proposal deposit hereinafter set forth and required will be applied to the lease payment monies referred to above. S[JEMITTAL OF PROPOSALS: Sealed lease proposals must be received prior to 5:00 P.M. on Friday, September 19, 1969. These lease proposals will be opened and the pertinent provisions tabulated prior to the public hearing to be held in the City Council Chambers on Monday. Septembe r 22. 1969 at 7:30 P.M. Sealed lease proposals may be mailed or delivered to the office of the City Manager, City of Newport Beach, Page 3 SUBMITTAL OF "PROPOSALS (cdnt' d) 3300 Newport Boulevard, Newport Beach, California 92660, on or before September 19, 1969 prior to 5:00 P.M. Envelopes of sealed lease proposals should be distinctly marked - SEALED LEASE PROPOSAL - "Property Located at the Southeast Corner of Brookhurst and Adams in Huntington Beach, California ". At the September 22, 1969 City Council meeting, oral lease proposals will be called for. Any oral proposals for the leasing of one or more of the respective parcels, to be considered, must be upon the terms and conditions specified herein, and must exceed the highest lease proposal previously submitted in writing for each respective parcel by at least ten percent (10 %). The highest of the oral or written lease proposals for each respective parcel satisfying the above conditions shall be accepted for analysis and recommendation at the City Council meeting of October 13, 1969 after the pro - posals are reduced to writing and signed by the offeror. Oral bidders who have not filed a written sealed lease proposal shall prior to bidding ALSO DEPOSIT A CERTIFIED OR CASHIER'S CHECK IN THE AMOUNT OF THE MINIM N RENTAL FOR ONE YEAR FOR THE RESPECTIVE PARCEL BEING BID UPON. Checks are to be made payable to the order of the City of Newport Beach. LEASE PROPOSAL DEPOSIT: All lease proposals, whether written or oral, must be accompanied by a certified or cashier's check equal to the minimum annual rental for each respec- tive parcel for which a lease proposal bid has been made (see Page 2). The deposit of the successful bidder will be retained by the City of Newport Beach and applied toward the lease payment monies which will be due the City in conjunction with the leasing of the respective parcels referred to above. Page 4 RENTAL AANSTMWr: There will not be any reappraisal adjust- ment in the lease rental during the twenty -five (25) year term of the lease. However, in order to keep abreast of current economic conditions, there will be a lease rental adjustment every five (5) years for each respective parcel leased in accordance with the Los Angeles - Long Beach Consumer Price Index of the U. S. Bureau of Labor Statistics. ZONING: The property is zoned C -2, Community Bus- iness District. Zoning permits community shopping centers, catering establishments and all C -1 or neighborhood commercial uses, including service stations. SUBJECT PROPERTY: The subject property comprises a net of 1.93 acres of land located at the southeast corner of Brookhurst Street and Adams Avenue in the City of Hunting- ton Beach, California. The property has a net frontage of three hundred feet on Brookhurst Street and a net frontage of two hundred and eighty feet on Adams Avenue. This is a major intersection, with Brookhurst Street the north -south arterial running from the Pacific Coast Highway northerly past the San Diego Freeway. Adams Avenue is an east -west arterial which serves as one of the major intercollecting links serving the communities of Huntington Beach and Costa Mesa, California. TOPOGRAPHY: Level and at street grade. LEASE ESCROW: The bidder whose lease proposal(s) is (are) accepted by the City Council must execute the lease agree - ment(s) for the respective parcel(s) within thirty days of the date of acceptance of the lease proposal(s) by the City Council. Page 5 CCWISSION: Lease proposals will be evaluated on the basis of the gross amount of the lease monies proposed for each respective parcel. In those instances where real estate brokers are utilized in conjunction with the processing of lease proposals, the standard real estate fee schedule for the leasing of property shall apply, as set forth in the Los Angeles Realty Board Schedule of Commissions, a copy of which is posted at the office of the City Clerk (Realty fees paid shall be computed at three percent (3 %) of the total rental for the first five years and at one and one -half percent (1�%) of the total rental for the balance of the term). Comnission payments shall be deemed earned in full and shall be paid upon the signing of any given lease by City and the respective lessee. Subsequent "cost of living" adjust- ments referred to on Page 4 shall not be applicable to real estate commissions paid upon execution of the lease document (s) . RESOLUTION NO. 7047 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH EXPRESSING THE INTENT OF THE CITY COUNCIL TO LEASE CITY -OWNED PROPERTY LOCATED AT THE SOUTHEAST CORNER OF BROOKHURST AND ADAMS IN HUNTINGTON BEACH, AND SETTING A PUBLIC HEARING TO CONSIDER PROPOSALS FOR LEASING SAID PROPERTY WHEREAS, the City of Newport Beach is the owner in fee of that certain parcel of real property located at the southeast corner of Adams and Brookhurst Streets in the City of Huntington Beach, containing approximately 1.93 acres; and WHEREAS, the above described property is presently unimproved and yields only a nominal amount of revenue for the City of Newport Beach; and WHEREAS, the City Council has determined that said property constitutes surplus property to the City of Newport Beach; NOW, THEREFORE, BE IT RESOLVED that the City Council hereby declares its intention to offer the above described property for lease for a term of twenty-five years; BE IT FURTHER RESOLVED that a public hearing will be held in the Council Chambers, 3300 Newport Boulevard, Newport Beach, California, on Monday, September 22, 1969, at 7:30 p.m., therein to consider all offers to lease and to award a lease upon terms and conditions satisfactory to the City. ADOPTED this 28th day of July, 1969. '"Ek"IX two., NIS ATTEST: /_ �/ ., IIIIIIIII -11007M m m Ica Im"Mr-ilm I to q 120' 4c1r14181 r T NW Cole 54ro 8 Qk X. roo I 120' aogMS V4r. Z Pere- - 'c' 0 Igo AC4. A = 22 500.17, Yt PC,/, 6 = ?,? 500 J. ,ccz, c 600 1 !x4. 0 50017, t 7-0 7-•4 L = a4,000""-l" = 4,9-3,dc, A1.67- CITY OF NEWPORT BEACH PUBLIC WORKS DEPARTMENT PoQ0ocER7Y FOR 1-494SE .47'1W-cAP5CC,r10V Ooc BVOOIC116657E'40405 141 I-1UA171"6r0A1 5E4CI4 DRAWN oqlew DATE 7-/df-G APPROVED"g. t,,,CL ._ . — DRAWING NO. "-5076—/_ ° ` @ CITY OF NEWPORT BEACH' u t Z CALIFORNIA +wo �4FORN� City Hall am Newport Blvd. (714) 67 8-2110 May 18, 1971 Mrs. Nola Logan, Escrow Officer Title Insurance & Trust Company 800 North Main Street Santa Ana, California 92701 Re: Escrow No. 495419 -NL Dear Mrs. Logan: I Enclosed herewith for deposit in the above escrow is the Corporation Grant Deed, dated May 14, 1971, conveying to Downey Savings and Loan Association the property located at Brookhurst Street and Adams Avenue in the City of Huntington Beach. Yours very truly, J1 TULLY SE City Attorne THS:mh Encl. cc: City Clerk t! CITY OF NEWPORT BEACH CALIFORNIA CITY .CIE :. April 19, 1971 CI7Y A7MMEY cily CLERK XW— S- BROOK UST PP:JrtX n ESCR0.4 MD GRNSP'=D Attached are the executed original and five copies of the rant deed on the ^,cs ;k;- °:roo)GIhur t property. Also attached ' are the executed original- and.four copies of the escrow instructions. We would appreciate receiving_ the date, the book-And page number assiMed to.the, deed w1w it is recorded in the official records of -Or"* County by the County Pecorder so that we -rev have a complete record. :::aura Lagios .. City Cleric LLL wk ti as_ roe I Escrow No. 495419 -NL ESCROW INSTRUCTIONS j I TITLE INSURANCE AND TRUST COMPANY: Date: April 16, 1971 On or before June 1, 1971 ' I will hand you the sum of Three Hundred Eighty -Five Thousand Two Hundred and no /100 Dollars ($385,200.00) which you will deliver when you obtain and record a grant deed in the form attached hereto as Exhibit A and when you can issue your usual form standard CLTA Owner's policy of title insurance with liability not exceeding $ 419, 000 on that certain land in the City of Huntington Beach, County of Orange, State of California, being the north 350.00 feet of the west 340.00 feet of Section 8, Township 6 South, Range 10 West, in the Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the office of the County Recorder of said County showing title vested in DOWNEY SAVINGS AND LOAN ASSOCIATION, a California corporation SUBJECT ONLY TO: (1) Taxes for the fiscal year 19 70 -1971 to be prorated to the date of closing. (2) Covenants, conditions, restrictions and public utility easements of record., provided said easements do rtot exceed six feet in width and are along the rear or one side line of said land, or are along the rear and one side line of said land. (3) Reservation of water rights to grantor, as recited in the grant deed attached hereto which provides as follows: "EXCEPTING AND RESERVING from said grant of real property, all right, title, and interest in any and all waters, either appurtenant or non- appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights to such waters, and the right to take, divert, extract or produce such waters, whether in the exercise of overlying or riparian rights for use on said real property, or in the exercise of any appropriative, prescriptive, or any other non - riparian or non - overlying rights by delivery and use at any place of use within the watershed of the Santa Ana River and its tributaries. The foregoing reservation of water rights shall not be construed to reserve to Grantor any surface, right of entry on the property." Pege 3 ee O fe -efl Escrow No. 495419 -NL The GENERAL PROVISIONS printed on the reverse side of this page of these instructions are by reference thereto incorporated herein and made a part hereof. Time is of the essence of these instructions. 11 this escrow is not in condition to close by June 1, 1971 , any party who then shall have fully complied with his instructions may, in writing, demand the return of his money and /or property; but if none have complied, no demand for return thereof shall be recognized until five days after the escrow holder shall have mailed copies of such demand to all other' parties at their respective addresses-shown in the escrow instructions. if no such demand is made, close this escrow as soon as possible. Any amendment of or supplements to any instructions must be in writing. Deliver title insurance policy to Downey Savings and Loan Association, 8630 Florence Ave., Instruct Recorder to mail Grant Deed to Buyer. Downey, California Begin search of title at once. I pay cost of title insurance policy, escrow fee, recording fee, real property transfer tax and any and all other closing costs. Signature Address Telephone Signature Address Telephone e Title insurance and Trust Company: Date: April 16, 1971 I have read and approve the foregoing instructions. On or before June 1, 1971 I will hand you Grant Deed as called for on page 1 hereof which you will deliver when you can issue the policy of title insurance called for and hold for the Seller funds as called for on page 1 hereof. Seller acknowledges receipt of a check from Buyer in the amount of $33,800.00, as a deposit, which sum is to be applied to the total purchase price of the property which is Four Hundred Nineteen Thousand and no /100 Dollars ($419,000.00). Said sum of $33,800.00 shall not be deposited in this escrow, but shall be held by Seller subject to the terms and conditions of Resolution No. 7361' adopted by the City Council of the City of Newport Beach on January 25, 1971. i.r, i� The GENERAL PROVISIONS printed on the reverse side of this page of these instructions are by reference thereto incorporated herein and made a part hereof. Pay all encumbrances of record necessary to place title in the condition called for. I will hand you any funds and instruments required for such purpose. Deliver title insurance policy to Buyer. Instruct Recorder to mail Grant Deed to Buyer. Begin search of title at once. to CITY OF S Signature Address Telephone 3300 Newport Boulevard. 673 -2110 Signature Address Newport Beach, Calif. Telephone t <aS4.M i kAi, 4 FP J A. CITY OF NEWPORT BEACH CAUFORNIA y _ Fg9y ■jaysFFr7 � � CITY ^F YEWiJRI BEACH. June 4 , 971 i ' Thomas C. Starrett- Re: Escrow Attorney at Law No- 95419-siL Downey savings & Loin Association Post Of=`ice.Box.720 Downey, California 90241 Dear Mr. Starrett: UAOn the closing of the above escrow and receipt-of the fia::sl 'statement, we -discovered that an error had been made in the original escrow:, instructions. If you Will remember, the final bid of Downey Savings & roan Association was $419,900, but when the escrow instructions were prepared the amount of $419,000 was inadvertently used as the basis for the sale'. We contacted Mrs. Nola Logan, the Escrow Officer, and it wa agreed that the error could be corrected. At Mrs. Logs'!'s suggestion, we have prepared the attached letter to be signed by both the City of Newport Beach and Downey ,Savings & Loan Association, and forwarded to her so that she`ean proceed to revise the documents. Since the cost of the documentary stamps and the title policy will be based on the correct amount, $419,900, there will be a small additio�zal cost to the Buyer. Any charge that may be incurred other than that cost, by reason of the error, will be assumed by the.City. I trust that we may count on your cooperation in correcting th'_s mistake. Would you please have the attached letter executed on behalf of Downey Savings & Lean Association arvl forward the original, together with a cheek for $900, to Title Insurance & Trust Company. Thank you very much for your assistance. DQ''N; mh 3nc1. cet City Manager !'— Yours very truly, DENNIS o'NEIL Acting City Attorney CITY OF NEWPORT CAUFnl2k n: June 4, 1971 Mrs. Noll Logan, ffifocro -a OffiCpc', Title Insurance & a' •as.' company 800 north Main ;tr ec Santa Asa, Califo.r.aia 92703[ ,'' Res Zscrow No. 4954194iL Dear ;7 S. Logaa s r BEACH JUN. 1971 ..� MANAGER My OF NE WPoC7 aEACH, r CANE V •\ Following receipt by fee City of the closing statement in the above e3crow, a clerical error in the Escrow Instructions was nrough" to our attention. The purchase bid of the buyer, Downey Saving, & i.oan Asuociation, was $419,900, and the formal acceptance by the City specified the amount of $418.900. The amount used a, the basis for sale in the Escrow Instructions,. however, was Y419, 000, leaving an additional sum owing in the amount- of $930. .Enclosed herewith for inclusion in the above escrow is the check of Downey Savings & Loan Association in the amount of $900. You are hereby rc.e;-aeste3 to :sake the necessary correction in the escrow documents to reflect the purchass. price of $415,900, and disburse t)te additional sum due the City. It is understood that any additional charge for documentary stamps; policy of title insuzan.ce to be increased to $419,900; and: ordinary expenses of escrow based on the corrected purchase; (i price will be paid by the buyer, as agreed in the Escrow /zti Instructions. The Gig; will assume the cost, �f any��-cf m��ar. +, l the correction and pr Sparing the revised closing'-wt- tfment.. F,ny � 4( such charge may be deducted from the additional amount owi.ig to the City of Newport Thank you for your courtesy. Your-s very truly, CITY OF NEWPORT BEACH Bye City attorney (Acting) D06i1PI &X SQAVIW(sS & LOAV ASSOCIATION DO' N: mh By: cc:. City Manager F Title.. Downey Savings & Loat l City pork City Attorney City Cle rk April 14, 1971 Property at Brookhurst Street and Adams Avenue, Huntington Beach. Attached is check for $33, 800.00 which accompanied the bid of Dowaey Savings and Loan Association for subject property. Will you please deposit it with the Title Insurance and Trust Company of Santa Ana when you open the escrow. LL-dg Att. cc, City Manager City Clerk L---- AND N ASSOCIATION Deposit on bid to purchase land at Brookhurst and Adam 192-8 PAY o D n-, DATE March 25, 1971 VOID AFTER 60 DAY2 TO THE CITY OF NEWPORT BEACH ORDER DOWNEY SA or 3300 Newport Blvd. ER Newport Beach, Calif. 92660 00 L WIG 3 2 7'111 1 1: 1 2 ? pill 17 1; Is No-1 108327 $ 331800.00*• AND LOAN ASSOCIATION 6,TVj4)5;NATU"E9 REQUIRED DOYVNEY FULLERTON NEWPORIBEACH 12 SJ. '(MAIN OFFICE) 248 I E. CHAPMAN AVE. 2043 WESTCLIFF DR. 7222 8630 FLORENCE AVE. NORWALK PALOS VERDES MISSION VIEJO 13910 PIONEER BLVD 19 PENINSULA CENTER 25866 MUIRLANDS BLVD. AND N ASSOCIATION Deposit on bid to purchase land at Brookhurst and Adam 192-8 PAY o D n-, DATE March 25, 1971 VOID AFTER 60 DAY2 TO THE CITY OF NEWPORT BEACH ORDER DOWNEY SA or 3300 Newport Blvd. ER Newport Beach, Calif. 92660 00 L WIG 3 2 7'111 1 1: 1 2 ? pill 17 1; Is No-1 108327 $ 331800.00*• AND LOAN ASSOCIATION 6,TVj4)5;NATU"E9 REQUIRED CITY OF NEWPORT BEACH SURPLUS REAL PROPERTY BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA PROPOSAL TO PURCHASE To the Honorable City Council City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92660 Gentlemen: The undersigned declares that he has examined the location of the surplus property; has carefully read City Council Resolution No. 7361 declaring the property to be surplus, authorizing its sale, and setting out the procedure for its sale; has carefully examined the Tait Appraisal Company report on the property; and, has carefully examined the preliminary title report of Title Insurance and Trust Com- pany dated January 21, 1971, at 7:30 a.m. The undersigned hereby proposes to purchase said real property and do all things necessary to complete the purchase if he is the successful bidder in complete accordance with the terms of Resolu- tion 7361 and will make full payment therefor within thirty (30) days after the award of the bid. The undersigned further declares that his offer is unconditional and without ex- ception; that it is not conditioned upon the approval of any proposed development by the City of Huntington Beach; and that he will pay all recording costs and closing costs associated with purchase of the property. Accompanying this pro- posal is a cashier's check, certified check,or cash deposit equal to ten percent (10 %) of the bid price as a guarantee that if the proposal is accepted, the under- signed will complete the purchase transaction as provided in Resolution 7361. The undersigned is aware that failure of the successful bidder to complete the purchase as required shall result in forfeiture of the deposit to the City. WRITTEN IN WORDS - WRITTEN IN WORDS - TOTAL BID PRICE: Dollars and Cents RfkR RRslslR Ri!ltA RiRY@iR Sls! TOTAL DEPOSIT: Dollars and Cents WRITTEN IN NUb1BERS - WRITTEN IN NUMBERS - Bidder's Name Authorized Signature Bidder's Address Zip Code Date Telephone Number w I. Notice Inviting Bids declaring surplus real property to be for sale. 2. Resolution No. 7361, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH DECLARING CERTAIN REAL PROPERTY TO BE SURPLUS, AUTH)R- IZING ITS SALE AND SETTING OUT THE PROCEDURE FOR ITS SALE. Said property is shown on the map dated December 29, 1970, designated Drawing No. M- 5140 -S, attached hereto and marked Exhibit "A" A copy of the Grant Deed the city is to execute is attached hereto and designated as Exhibit "B ". 3. Preliminary Title Report prepared by Title Insurance and Trust Company of Santa Ana dated as of 7:30 a.m. on January 21, 1971. 4. Appraisal of the subject property prepared by the Tait Appraisal Company of Los Angeles establishing a fair market value of $324,000 as of February 25, 1969. S. Proposal to Purchase Form. All bids must be submitted on an official Proposal to Purchase form (bidders proposal form). Facsimile copies of the official form are not acceptable. PFB:sh 1/28/71 t AprU 14, 1971 Rinlrar Development Corporation P. O. Bolt 22ig AnaheirA. CaliforMS 928ft . Subject: Property of Brookkurst Street and Adaw Avenue, Hantingttm Beach. bbclosed to carhiers check in the amount of $324 725.00 witch wu submitted by you with your biddere proposal to purchase *abject property. The City appreciator your interest in @aid property and your participation in the auction. Aa you know, the property was cold to Doamey Savings and Loan Association for $419, "0.00. LL:dg Encl. cc: City Manager Lours Logics City Clerk I < -:E14 J' NOTICE TO BIDDERS Attached is a copy of important elements of the Tait Appraisal Company report on the subject property, dated February 2, 1969. The City of Newport Beach makes no representation either expressed or implied as to the accuracy of the report. The work is that of the appraiser. The City of Newport Beach also makes no representation that information contained in the report has not materially changed since the report was prepared. This document should only serve as an aid to the bidder in formulating his opinion as to the fair market value of the property for bidding purposes. s APPRAISAL REPORT BROOKNURST AND ADAMS • HUNTINGTON BEACH • TAIT APPRAISAL COMPANY TAIT - APPRAISIAL CO. INDUSTRIAL JfppPaisePS and Valuation mnvinee" COMMERCIAL TAIT BLDG. - 1044 WEST STM STREET • LOS ANGELES. CALIFORNIA 90017 RESIDENTIAL TELEPHONE 363.1663 FINE ARTS LAND AND TAX APPRAISALS February 25, 1%9 ECONOMIC AND INTANGIBLE S U R V E Y S City of Newport Beach City Hall Newport Beach, California Res Order #14793 File #13039 Centlemens We submit herewith our appraisal of the real property located on the south- east corner of Brookhurat Street and Adams Avenue, Huntington Beach, California, for the purpose of estimating the Fair Market Value, as of this date. After careful study and investigation* and for reasons hereinafter set forth, it is our opinion that the herein described property, as of February 23, 1969, has a Fair Market Value oft $324,000.00 Our report presents our opinion of the Fair Market Value, which we interpret, to mean the highest price in terse of money which property will bring if ex- posed for sale in the open market, with a reasonable time to find a purchaser, buying with a full knowledge of all the uses and purposes to which it is adapted and for which it is capable of being used. The values for land and improvements as contained in this report, are constit- uent parts of the value reported and neither is to be used in making a summa- tion appraisal by combination of values created by another appraiser. Either is invalidated if so used. The current purchasing power of the dollar is the basis for the value reported. No responsibility is assumed by the appraiser for matters which are legal in nature, nor is any opinion on the title rendered herewith. This appraisal assumes good title. Any liens or encumbrances, which my now exist have been ' disregarded and the property has been appraised as though free of indebtedness and as though no delinquency in the payment of general taxes or special assess - meets exists. 1 1 SAN FRANCISCO 11, CALIF. SAN DIEGO 1. CALIF. ANAHEIM, CALIF. FRESNO, CALIF. ' 24 CALIFORNIA ST. • 421.4990 625 BROADWAY • 233-3323 617 S. HARBOR BLVD. - 7744641 1044 FULTON ST. • 264.1111 PHOENIX, ARIZ. SALT LANE CITY, UTAH PORTLAND, OREGON LAS VEGAS. NEV. 112 N. CENTRAL AVE. • 252.6362 138 SOUTH SECOND EAST . 363-4501 715 S.W. MORRISON ST. • 227.6966 1111 LAS VEGAS BLVD. SO. • 384.1414 r 1 14793 1969 TABLE OF CONTENTS Page PART ONE - INTRODUCTION ........ ............................... 1 1 DEFINITION OF VAi.DER.T ......... . ............................... 2 FINAL TRACTS ALONG BROOKHURST SINCE LAST APPRAISAL.,.......... 11 GENERAL LOCATION AND NEIGHBORHOOD DATA ........................ 13 MASTER RM OF ARTERIAL STREETS AND HIGHWAYS .................. 14 DESCRIPTION OF THE PROPERTY .... ............................... 17 LAND PLAT 1LANi.. e.......... e ... ..........ss...e....e.........• 19 ZONING I TAP ..................... ............................... 20 PART THREE - VALUATION AND CON =SION ......................... 23 VALUATION ...................... ............................... 24 PART FOUR - AL? LiENDA ..... ............................... a....• 30 Flaming aA n8 Inform Lion ... 31 Appraiserts Qwli ficati ons ... ............................... 47 I I I I STATEMENT OF CONtINGENiT AND LIMITING CONDITIONS......,,,,,,,,, 3 PART TWO - DESCRIPTIVE ANALYSIS ............................... 4 'NEIGHBORHOOD MAP...e.. u.......•• ............. a....e..........• S GENERAL LOCATION AND NEIGHBORHOOD DATA ........................ 6 FINAL LOCATION MAP. s..........• •........o .............e......• 10 FINAL TRACTS ALONG BROOKHURST SINCE LAST APPRAISAL.,.......... 11 GENERAL LOCATION AND NEIGHBORHOOD DATA ........................ 13 MASTER RM OF ARTERIAL STREETS AND HIGHWAYS .................. 14 DESCRIPTION OF THE PROPERTY .... ............................... 17 LAND PLAT 1LANi.. e.......... e ... ..........ss...e....e.........• 19 ZONING I TAP ..................... ............................... 20 PART THREE - VALUATION AND CON =SION ......................... 23 VALUATION ...................... ............................... 24 PART FOUR - AL? LiENDA ..... ............................... a....• 30 Flaming aA n8 Inform Lion ... 31 Appraiserts Qwli ficati ons ... ............................... 47 I I I I ' 14793 1%9 -2 The appraiser herein, by reason of this appraisal, is not required to sire ' testimony or attendance in court or at any governmental hearing with reference to the property in question, without a prior agreement as to fee for the ad- ditionsl service desired. ' The appraiser herein has no present or contemplated interest in the property appraised. 1 We retain a copy of this report is our files for a period of ten years, to- gether with the original notes from which it was prepared. These records are considered confidential by this company and we do not permit access to ' them by anyone without your authorization. Yours very truly, ' TAIT APPRAISAL COMPANY 4-1 NAO i. rry Cs}mnt lj nioorr Appraiser William C. Fryant ' Vice President WCFsvh .1 14793 ' 1%9 1 1 I I 1 I 1 1 1 1 1 PART ONE INTRODUCTION 14793 1 %9 PURPOSE OF THE REPORT ' The purpose of this report is to estimate the Fair Market Value of real property situated on the southeast corner of Brookhurst Street ' and Adams Avenuep Huntington Beach, California, as of February 250 1 %9. DEFINITION OF VALUE Fair Market Value is defined ast "The highest price estimated in terms of money which a property will bring if exposed for sale in the open market with a reasonable time allowed in which to find a purchaser buying with knowledge of all the uses and purposes to which it is best adapted and for which it is capable of being used ". (Supreme Court of California). This definition further assures that neither the buyer nor the seller are under any undue compulsion to buy or sell. 3 STATEMENT OF CONTINGENT AND LIMITING CONDITIONS This appraisal is subject to the following limiting conditionss The legal description furnished us is assumed to be correct. We assume no responsibility for matters legal in character nor do we render any opinion as to the title, which is assumed to be good. All existing liens and encumbrances have been disregarded and the property is appraised as though free and clear under responsible ownership and competent management. Any sketches in this report are included to assist the reader in visualizing the property. We have made no survey of the property and assume no responsibility in connection with such matters. We believe to be reliable the information which was furnished to us by others, but we assume no responsibility for its accuracy. Possession of this report, or a copy thereof, does not carry with it the right of publication, nor may it be used for any purpose by any but the applicant and then only with proper qualifications. We are not required to give testimony or to appear in court by reason of this appraisal, with reference to the property in question, unless arrangements have been previously made therefor. The distribution of the total valuation in this report between land and improvements applies only under the existing program of utiliza- tion. The separate valuations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. That no undesirable sub -soil conditions exist. The subsurface mineral rights Without the right of surface entry are excluded from the value assigned. We assume existing and apparent boundaries to be correct, and assume no responsibility for any conditions not readily observable from our customary inspection of the premises, which might affect the valua- tion, excepting those items specifically mentioned in this report. The value premises cited above are considered foundational and basic to the values reported herein and the right is reserved by the appraiser to revise and /or rescind his professional appraisal opinion in the event the conditions so described are modified to any extent. ' 14793 1969 11 1 1 1 1 1 1 PART TWO DESCRIPTION AND ANALYSIS 2 i 147.93 J� 1969 . ELUS ii — — Tr f —DARFIEIk T \I .vr•Tw .I � I �'1 1 . I i YORIfTOriM 1 yynlry / .. .s..e - .' ADAMS� _ 1 4 - \ ,A }I � w I V�— /h.1 sb s �b l I C I r ad - a Np vous W;, grg u u Trm� i� NAMI. '. ' 1 ?i e A IJI Ill ° aANMN g AJ111111111111111 USE 11 L NEIGHBORHOOD MAP o COO SUBJECT PROPERTY Q VICINITY r ELEMENTARY SCHOOLS - __ Scale: 111 22001 MIGN sCNODLS Yt � GaLLEfiES ' II FIRE STATIONS 14793 1 %9 GENERAL LOCATION AND NEIGHBORHOOD DATA The incorporated City of Huntington Beacht Csliforniat is situated in Orange Countyl, soon 30 miles southeast of Downtown Los Angeles and 10 miles southeast of Long Beache The Immediate area of the subject property is approximately A miles easterly of downtown Huntington Beachq A miles northwest of Coats Ness and 8 miles southwest of Santa Anse the county seat. Generally, the area is going through a gradual transition from agricultural and ail drilling uses to a low and medim density resi- dential development with corresponding commercial uses. Oil production is a declining use with most wells only marginally low producers. Much new and existing residential development has taken place along Brookhurst Street. Brookhurst is a principal north -south thoroughfare of four traffic loosing between the beach communities and the already populated areas inlandv and acts as a display for new developments. The area is within close proximity to the ocean and south of the new completed San Diego Freswy. 0 1 1 14793 1969 GENERAL LOCATION AND NEIGHBORHOOD DATA Continueds Developeent at the subject intersection of Brookburst and Adams is as follows$ Southeast Cornett Southwest Cornett Northwest Corners Subject (Vaunt). Vaunt. Standard Station, area surrounding station vaunt. Sign indicates future Ralphs Market and construe- tion may be beginning won. Northeast Cornert Existing Shopping Center, with Phillips 66 service station corner, Bank of America Branch, Von's Market, T. G. Q Y. Variety Store, cleaners# barber shop, laundromst, dental office, Pissa Palace, Rain's Roasted Chicken, and other stores. Castereial developmat at the more prominent intersections of Brookhurst Avenue were noted an shown on the following page. 1 1 14793 1 %9 8 ' GENERAL LOCATION AND NEIGHBORHOOD DATA Continued: Talbert Avenue, three service station corners, no other comercial uses. ' This location just south of the San Diego Freeway. ' Ellis Avenue, two service station corners, no other commercial. 1 Garfield Avenuag four service station corners. North of Northeast Corner, sign indicates future Fountain Square Regional Shopping Center with 36 shops, bank, market, drugstore, department store, savings and loan. South- ' east Corner beyond station, existing neighborhood shopping center major portion new since last appraisal. Southwest Corner, signs indicating future Kentucky Rosst Beef and The Whaler Fish and Chips. ' Yorktown Avenue, a secondary intersection. The easterly corners have developed residentially. Other corners vacant, the Southwest Corner ' with sign for Yorktown Plaza Shopping Center. ' Brookhurst is than residential south to Hamilton Avenuegwhere there are three service stations, otherwise vacant surrounding stations. At ' Northwest Corner, sign indicates space in proposed shopping center ' available. 1 14793 ' 1 %9 GSNBRAL LOCATION AND NEIGHBORHOOD DATA ' Continuedt ' The closest commercial intersection of major prominence east of Brookhurst is at Adams and Harbor in the City of Costa Mesa. All corners fully ' improved. Brookhurst Street his an 80' right -of -way at the present timev widened to ultimate width adjacent to new developments. Ultimate right- of -wsyq a Major Street with 120 foot right- of.nay. Adams Avenue# varying present right -of -way. Ultimatelyp a Major Street with a 120 foot right- of-way west of Brookhurst,, a Primary Street with ' an 100 foot right- of-wey to the east, connecting with Harbor Boulevard. There are no developing comparable commercial intersections along Bushsrd except to the north at Garfield. At the Northeast Corner a new service ' station and neighborhood 7 -11 Food Store is under construction. ' As of Mid -1%6# the date of our last appraisal, residential and related ' construction had advanced between Indianapolis Avenue on the north and Hamilton Avenue on the south. Residential tracts finalised since our ' last appraisalp together with former tracts, are shown on the following map. The newer tracts are also briefly described on the following page. 11 0 I' 1 1 1 1 1 1 1 14793 1969 1 I c.So]tr T viJ? �5aus / •--' � y; It, FINAL LOCATION MAP r 5909 G3 if (In subject area along Brookhurst St. only) From Map Amended to 12/5/68 Scale: 1" w 2,000 feet Huntington Beach, California Tracts indicated by red numbers were finalised since our last appraisal. 10 TAIT APPRAISAL COMPANY February - 1969 14708 1969 Continuedt FINAL TRACTS So BR22EMM 9IH E LAST APPRAISAL TRACTS FROM NORTH TO SOUTH Tract Location & Date Approved No. by Council Developer Low Acreage 5025 2/3/64, H.B. Brookburst d Yorktown Leadership Homes, For. of 4708 Macco Realty Co. 75 13.67 5026 4/19/65 H.S, Brookhurst d Yorktown Leadership Hamesp For. of 4706 Macco Realty Co. 76 15.67 4708 7/19/65 SW k, NW k, Sac. 5-6 -10 Macco Realty Co. 94 18.852 5027 4/19/65 Same Description as 5026 Mscco Realty Co. 78 17.245 4884 7/15/63 s,F.0 .Yorktown Q Brookhurst Clan Her, For. of 4707 Mscco Realty Co. 100 20.75 4707 12/21/64 So. of Garfield a 8. of Brookhurst,Laadership Homes Mecco Realty Co. 71 15.053 5033 1/4/65 H. of Adame, 1515s B. Brookhurst Mecco Realty Co. 83 16.77 5206 12/16/63 H. of Adams, 615' 8. Brookhurst Holiday Village Oakhurst Lana Co. 262 17.49 6156 SWC Brookhurst d Yorktown Por. of 6117 Shields Div. 36 8,36 6117 12/4/67 W. Brookhurst, 1320' S. Yorktown Brookhurst- McFadden 55 11.607 Continuedt 14708 1969 l2 FINAL TRACTS MaNG M OOKKUES[ Shwa LAST ArrnAISAL TRACTS FROM WUH TO SOUTH CONTINUMS Tract Location d Date Approved No& by Counsil Developer Lots Acreage 5191 S. Adams, 13590 Brookhurst Meredith Co. 28 6.613 5197 SEC Adam & Brookhurst Meredith Co. 108 33083 5192 Same as 5191 Meredith Co. 108 23.83 5523 5/2/66 E.. Brookhurst, 4710 Atlantic Argus Homes 73. 14.637 5908 11691 S. of Indianapolis, E. Brookhurst Essex Land Co. 12 2.50 5978 2/7/66 N. of Atlantic d E. of Brookhurst Jaday Tract Essex Land Co. 153 33.535 6248 11/7/66 N. of Atlanticq E. of Brookhurst Essex Land Co. 9 4.068 5907 5/3/65 S.. of Indianapolisp 5601 W. Brookhurst Essex Land Co. 102 18.874 it II II II 1 1 1 1 1 1 14793 1%9 '3 GENERAL LOCATION AND NEIGHBORHOOD DATA Continued: Among the current residential developments offering new residences in the general area are the followings Fashion Shores, Brookhurst at Effingham. Villa Pacific, south of above. Mscco's GIs naar West. Republic Homes in Hasa Verde. The Beach. Monticalloo south on Harbor. Sunkist Homes, Yorktown Bushard Series at Yorktown. Seabury Homes, on Adams. Rancho La Cuesta, models at Brookburst b Atlantic. Port Lido. Showcase Homes. Chateau Blanc. The Master Plan of Arterial Streets and Highway remains basically the same, except that the route of the proposed Huntington Beach Freeway (Route 39) has been changed. A portion of the route was adopted by the California Highway Cosmsission on October 21, 1968, the remainder for future adoption. Primary design is in progress and will take several years, to be complete about the mid - 197018. Acquisition for right- of-way will begin then, con- struction to start in the late 1970's. 14793 1969 14 AMENDMENTS MASTER PLAN OF ARTERIAL woman T �--- STREETS AND HIGHWAYS LEGEND: FREEWAY — MAJOR— —120'R/W — PRIMARY-100'R/W SECMARY-80•R/W NOTE: �* LMS C TE EXI� �T W w �cv MT"TE w % Ls % CERTIFIWMS: F, my SUBJECT C> _7 CITY OF HUNTINGTON BEACH ORANGE COUNTY CALIFORNIA TAIT APPRAISAL COMPANY February - 1969 t 1 14793 1 %9 GENERAL LOCATION AND NEIGHBORHOOD DATA Continueds Traffic counts at the subject intersection and neighboring intersections are su®arired below. Counts were made on week days and cover a 24 -hour period. On Brookhurst, at Adams Date Northbound Southbound Total (Subject Site) 8/10/66 70849 110228 199077 6/12/67 89256 89812 179068' 11/5/68 80778 119898 209676 On Adams, at Brookhursts Date Eastbound Wastbound Total (Subject Site 6/12/66 69716 80060 149776 10/4/67 89565 89986 179551 11/5/68 69390 89645 159035 iC; On Brookburst, at Hamilton, total traffic is lighter, 13582 recorded 3/21/67 and 119442 on 2/26/68. Hamilton Avenue traffic is also lighter, 7,169 on 2/26/68 and 79554 on 2/4/690 1 �1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 14793 1969 GENERAL LOCATION AND NEIGHBORHOOD DATA Continuede Yorktown Avenue traffic totalled only 1,626 on 10/16/68, Brookhurst traffic at this point is heavier than at subject, totalling 26,801 on 7/25/68 and 21,185 on 10/16/68. The major intersection north of the property, Brookhurst at Garfield followst On Brookburst, 26,998 on 6/25/68, On Garfield, 4,537, same date. 16 I 1 1 II II II II I I 1 1 14793 1969 L60AL DESCRIPTION Mn DESCRIPTION OF THE mom= The North 330 ft* of the West 340 ft. of the Northwest k of the Northwest k of Section Bo T6Sq RIOWO S.D.B. d N. Ownership of the subject parcel is vested in City of Newport Beach. Subject property is situated on the southeast comer of Broekharst Street and Adams Avenual Huntington Beach, California. The parcel has a primry frontage of 300 feet along Brookhurst Street and a secondary frontage of 280 feet along Adams Avenue. The net land area is 840000 sq* ft. or 1.93 plus or sinus acres. j7 Sites appears level at street grade, sloping dowward slightly to the east. There are no apparent flooding or drainage problems. There is a concrete curb 12 ft. vide along 200 ft. of the property's frontage on Brookhursto southerly from the corner. Along Adamp the sidewalk is 8 ft, vide along 190 ft* of the frontage easterly from the corner. Improvements on the site consist of two older wood framed structures housing portions of an underground water pustping systea4 no longer in use. City of Newport Beach intends to cap the wells undergroundq and any developsant of the property would be subject to access to these areas. n h C 1 1 I .H I oev W 2 t 0 b H1 1 2 i 0 Q av � os 1' ' w � I I 1 a, O a, %D ' n O, ial +i M to Oo� 1 R P7 Y � i N W O 0 V O O J O \ O h (0't 11 m VCL CL o N � � O � n N O j N C p • O V a N a .U] 3W7 N Mt�r1 p,� 5 a a N F U h .8 a UE 14793 1969 DESCRIPTION OF THE PROPERTY Continueds The City also would retain all water mineral rights. Some access to it. Could be relocated. Other current improvements include Columbia Display Billboards; Columhis Outdoor Advertising now pays the City about $600 per month on a lease month to month which will expire the and of this year. The property appears to have been recently tilled and utilised for agricultural pursuits. 89 14793 1 %9 DESCRIPTION OF THE PROPERTY Continueds ASSESSED VALUATION The subject property is known as Parcel 19 Page 181 of Nap Book 155, Records of Orange County Assessor's Office. Current 196849 Assessments Land $18,600.00 Improve nts -0- Total $18,600.00 Subject land is a portion of a larger parcel all of which is zoned C -2 Community Business District. Zoning permits community shopping centers, catering establishments and all C -1 or Neighborhood Commercial uses, including service stations. See summary of ordinance pertaining to C-2 zoning in Addenda. '1 14793 1969 OF THE PROPERTY Continueds HIGHEST AND BEST USE The Master Plan of Land Use dated October, 1965, Plate 9I d reflects current plaming, and shows Commercial Office and Retail Development for the subject intersection. (See Addends). Based upon past, present and anticipated future development in the vicinity, it is our opinion that the highest and best use of the subject property would be for commercial utilisation. There is little doubt other then that the most northwesterly corner of the subject property should be developed as a service station. The ruining area would then be developed commercial on its own, or in conjunction with the contiguous commercially zoned vaunt parcel. 22 1 14793 3 1 %9 II I 1 1 it 1 1 1 i 1 1 PART THREE VALUATION AHD CONCLUSION 1 14793 ' 1959 24 VALUATION The method utilised in this appraisal has been the Market or Comparison ' Approach. The appraiser has made a search of public records for evidence of recorded sales and transfers in the general area of the subject property. In additions we have interviewed other informed parties. ' The information thus obtained reflecting values has been compared with the subject property. This and other market data is summarised in the pages that follow. The appraiser reviewed the sales and listings reported in the former reports and the sore significant data then available is summarised belows ' 1. The property situated at the Northeast corner of Adams and Canneryg a parcel of 70p000 sq. ft. or about 1.61 1 acresq not including the Alpha Data Narkat or the Humble 0il Service Stations valued on the basis of 92.00 per sq* ft. in April$ 1966 appraisal by another appraiser. 2. Southwest corner of Brookhurst and Hamiltong 170 front ' ft. along Brookburst and 150 front ft. along Hamilton, 259500 sq* ft.g valued by this appraiser when vaunt in Julyp 1964 on the basis of 94.75 per sq, ft.# or about 91219000. I 14793 1969 '5 VALUATION Continuedt 3. Northeast corner of darner and Busbard, service station site with 160 front ft* on each street, 22,500 sq* ft,, sold about mid -1%4 for $90,000 or $4.00 per sqa ft. 4. A corner at the intersection of Adams and Cannery, 150 front fte on each atreet, 22,500 sq, ft., sold vaunt mid -1%4 for $125,000 or about $5.55 per sq, ft. 51 The service station site at the southwest corner of Brookhurst and Hamilton sold November, 1964 for between $180,000 to $182,000, as per seller. Price included, however, the improved parcel as well as a lease for Texaco station. Property was sold to Pawn& College, 6* Northeast corner Brookhurst and Adama, the easterly 6.52 acres (more or lase) less service station site sold July, 1964 for an indicated $1.14 per sq. ft. Purchaser then sold a portion of the above parcel to intended user, 830000 sq, ft. at $1.16 per sq. ft. 14793 1969 VALUATION Continuedt 7. On the subject parcels the proposal by Gulf 011 Company for a minimum rental of $500 per month on an assumed nee- net -nee lease indicates a value for that parcel of about $85,7001 based upon a return of 7%# This indicates a value of $3.81 per sq@ ft* for the 120500 sq@ ft. parcel. At a 6% returnp $1009000 value indicated or $4.44 per sq. ft. S. The proposal by Jack- In-The Box, Inc. for a lease based upon $300 per month an an assumed net -net -net lease in- dicates a value for that parcel of about $51v4000 based upon a return of 7X. This indicates a value of $3.43 per sq* ft. for the 15p000 eq@ ft. parcel. The appraiser searched public records to determine sales and leases of comparable properties in the subject area. Few sales recorded since the date of our last appraisal 9. Three more recent sales of land Boned for residential uses along Brookburst and Cannery were compered to numerous sales of pre- mid -19669 and an increase in land values between 5 L 10% is apparent. 14793 1969 VALUATION Continueds We At the Northeast Corner of Bushard and Garfield, a 15Ox1500 service station site was sold and leased back on the basis of $909000. A Standard Oil Station is now under construction. This location is very secondary to the subject. Just north of the station, s parcel with 130 front ft, along Bushard and a 150 ft, depth, 19,500 sq. ft., was sold for $45,000 or $2.31 per sq. ft. Parcel now being improved with a 7 -11 food store. Both sales took place in late 1%8. 27 11. At the Southwest Corner of Brookhurst and Hamilton, the 1.8 acres of commercial land surrounding the Texaco Service Station corner, with only 60 front ft. along Brookhurst and 330 front ft. on Hamilton is listed for $2.00 per sq. ft. This parcel was available for the same price at the time of the last appraisal. Broker indicates $1.50 per sq, ft. would probably buy it, and that the proposed Alpha Beta to be constructed across the street within the next 3 -4 months does not enhance the value of the listed property, but rather narrows it potential uses. Broker of the opinion that that portion of subject parcel surrounding the service station site is more valuable than the listing. 14793 1969 VALUATION Cant inudt Orange Countys and particularly the area is and around Huntington Deachs has not suffered all of the set backs caused by the new housing and financing slump that has curtailed residential and commercial growth in other Southern California areas. In our opinion, the value of the subject property has increased sub- stantially during the last 2J - 3 years. 12. In mays 19679 Humble Oil offered to purchase a portion of the subject property for service station use, 170 front ft. along Brookhurst and 150 front ft. along Adams, 259500 sq, ft. for $145,0009 or $5.69 per sq. ft. 13. In January, 1%79 Mobil Oil offered to lease the 150'x150' service station corner on the subject parcel for $1,125/ month on a 15 year lease, with 4 - five year renewal periods. At a 7h% risk rate or rate of returns this reflects a value for the site of $18090009 or $8.00 per sq. ft. A 7% return would indicate a value of $192,857, or $8.57 per sq, ft. 14793 1 %9 '9 VALUATION Continued: The appraiser briefly reviewed the City of Newport Beach file on the subject property, and found numerous inquiries reflecting an interest to purchase and /or lease the subject property.. In our opinion, the subject parcel should be valued on the following basiss Proposed Service Station Site,' 22,500 sq. ft. @ $8.25 $1850625 Remaining Area, 61,500 sq. ft. @ $2.25 1380375 Total Indicated Value $324,000 In our opinion, the Fair Nsrket Value of the aforementioned vacant parcel situated at the Southeast corner of Brookhurst and Adams, as of February 250 1 %90 is: $324,000 14797 ' 1%9 I1 II II II II I I I PART POUR ADDENDA r-, J 3C SECTIONAL DISTRICT MAP 5 -6 -10 CITY 01 HUNTINGTON BEACH - ORANGE COUNTY, CALIFORNIA 111[11O[D h Z01[ tl! YMU YIYa I�.MM . ff� Mal► MMYMa N IWI •a � e-4a ..�... r. �aew r � rv. r ry r.w nrAVVe 7M WY L OO: ®�" �"• `� � rr wr wivn �r�ivr_wa.� MI. ew. n•. iw. MID. giw.wa.mr (+L• �J 31 SECTIONAL DISTRICT MAP 6-6 -10 ..w,.. .tl�t . H.. �t m.,�.wesar,. K eFim CITY OF nn esei pawwe• ro LEGEND: lEllw2 YR.M If�1 t" L• -n wt �.t1 -M 110 rus+ - HUNTINGTON BEACH.tl= -- 4t-Y wr r -n HH.T ORANGE COUNTY, CALIFORNIA al. •. � -w w Y Hw snM qY 0 -m-w IH AlItNIED BY =Q1C Vim: •p W t. IFw Htl 1C �� LEw �M b).b; m.rq�M w�ilb;w4Mw \wr bi.r� iw0 fir•. M.rY.R•w.M•Y.w+�.�w.na FH -r� Ytl .._ �oinr 1 PLANNW SECTIONAL DISTRICT CITY OF MAP 8 -6 -10 ww.m KMIq.gM N�qD7[• rm� rum v Ul 1 ORANGE COUNTY, CALIFORNIA ANENOEO W ZONE CAE: w.-t Mas.n.m.wrw•w.�e+e 1 1'. Ip 1 1 1 1 1 1 1 iIL wm UKb- � w. a 33 bM M IY wfiaw . .s.s. 1 ® 4Mw q1 .r a�. E ° °' HUNTINGTON BEACH "= PFw qK IF�'M tl1 1 ORANGE COUNTY, CALIFORNIA ANENOEO W ZONE CAE: w.-t Mas.n.m.wrw•w.�e+e 1 1'. Ip 1 1 1 1 1 1 1 iIL wm UKb- � w. a 33 SECTIONAL DISTRICT MAP • CITY OF HUNTINGTON BEACH ORANGE COUNTY, CALIFORNIA AMUME0 BY ZOME CASE: eO.Y.CR.N -ee. M.N. p.e. N -e. er.N. MA M.Y �sl AT LARTA AVE 17-6 -10 Y l l > O Q_ O Z 34 NOTE enr WIEIEr� MEIYIIG W. M LEOEWD w e• ~ .W.eEe or. ea 9sm ism e•W�W ►le•M IIM Ree ® YR1 �• OwO MINT NR� MNNY4 MIMr e. E.n e-e.n LEN um ®® ..IO...Iwr.a.ww . a wlM• nl•n uR e:e -n Isw e. M.M NN NFR "Wee Y l l > O Q_ O Z 34 35 SECTIONAL DISTRICT MAP 18 -6-10 -� CITY OF iYr HUNTINGTON BEACH o- a " d ORANGE COUNTY, CALIFORNIA NAMW ®Y ZOW WE: 4.M.i14M.ff.M1R.r. YO.Yir1.M, Yi. r.�. r- i,We,iir. rr iFT,e40. Y -D, Y- fir -i ri iY•H i • Y � -m�Y e. i.r � ?� ►Y ..,.r �rf iw au ��„ IIr i -e. -r i.n -r ou wa ® %� �. ®.ean.r .wnarr s rats we.> iN�Y I"1 Downey. 6 4lifwnia 90241 Rear Mr S' anett e Fncl"coed. herewith . are the proposed escrow instructioM in connection with the. successful bid by Do'�mey Sowings bi Loan hasociatA4D to pu*iOhase tl-,.e City - owned property at:.Adasns and BrooY.hu 3i '.,;in- tbe' City of Huntington Beach. age have opened Escrow.No. '495ti9 -lm at Title Insurance & Trust C,x*va ?y: mrs. Nola 'Logan is, ,the Escrow Officer. It is our understanding that .after exeiaiiiirr on behalf of Downey sa,,irgs & Loan, you will wit the,inotructions in the above escrow. You will recall. in our telephone conversation on April lei, 1971, concern the escrow, that 'there was uncei0inty as to whether tie Cityr..wished to salvage the 'water well e"Iipment presently on the property. I have checked with our Public Works. Director,.J06eph Devlin, regarding this matter, and he has advieed me tut.City has no interest in salvaging the'.', eauipmerit.. Therefore,' it is understood that Downey Savings Loan x +��;ociation will take the property as is, and,the City will have no. &I! gation with respect to the remov <tl of the water well egaipment or the capping of the well. In your telephone conversation with my office o-n April 19, 1971, you requested a brief payment history in connection Witt). the lease on the subject property between the City and eolu.;ai:a Outdoor Advertising Company. At the present time, the City received _ $300 a month froui Melvin, Genser and $150 a month from william A. Lyons. two of the billboard users, making the total of $450 a month due under the terms of the lease. .:his. arrangement was co epced at the time the City experienced the difficulties with Columbia regarding the rental, and sizc-. May, 1970, the payments.have been satisfactory and timely; they are paid up to May 1, 1971. As you requested, we will deter giving the required 30 -clay J= r. � r I Adams & Brookhurst property -2- April 20, 1971 i j notice to Columbia Outdoor Advertising regarding removal of the billboards, pending yo-,.).r consideration of possibly continuing a similar lease arrangement for a brief time. We will await further word from you in this regard. Yours very truly, TULLY H. SEYMOUR Citv Attorney :. SP Enc . / CC: City Clerk V Citv Manager Public Works Director Title Insurance & Trust Co. (Attn: Mrs. Nola Logan) AC Title Insurance and Trust Company 800 NORTH MAIN STREET • P. O. BOX 88 • SANTA ANA. CALIFORNIA 92902 - TELEPHONE 1714) 3473333 OUR NO, 495419 TITLE INSURANCE AND TRUST CO, 800 NO, MAIN SANTA ANA.e CALIFORNIA ATTN: NOLA. LOGAN RE a CITY OF NEWPORT BEACH IN RESPONSE TO THE ABOVE REFERENCED APPLICATION FOR A POLICY OF TITLE INSURANCE, TITLE INSURANCE ANID TRUST COMPANY HEREBY REPORTS THAT IT I5 PREPARED TO ISSUEv OR CA!iSE TO BE ISSUED9 AS OF THE DATE HEREOFs A CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE FORM POLICY OF TITLE INSURANCE DESCRIBING THE LAND AND THE ESTATE OR INTEREST THEREIN HEREINAFTER SET FORTH, INSURING AGAINST LOSS WHICH MAY BE SUSTAINED BY REASON OF ANY DEFECTP LIEN OR ENCUMBRANCE NOT SHOWN OR REFERRED TO AS AN EXCEPTION BELOW OR NOT EXCLUDED FROM COVERAGE PURSUANT TO THE PRINTED SCHEDULESf CONDITIONS AND STIPULATIONS OF SAID POLICY FORM. THIS REPORT, AND ANY SUPPLEMENTS OR AMENDMENTS THERETO. I5 ISSUED SOLELY FOR THE PURPOSE OF FACILITATING THE ISSUANCE OF A POLICY OF TITLE INSURANCE AND NO LIABILITY I5 ASSUMED HEREBY, IF IT IS DESIRED THAT LIABILITY BE ASSUMED PRIOR TO THE ISSUANCE OF A POLICY OF TITLE INSURANCES A BINDER OR COMMITMENT SHOULD BE REQUESTED, DATED AS OF 7230 A.M. ON) JANUARY 21+ 1 WIlCOX, TITLE OFFICER THE ESTATE OR INTEREST IN THE LAND HER-E�NAFTER DESCRIBED OR REFERRED TO COVERED BY THIS REPORT I5, A FEE* TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTED IN` CITY OF NE'r.'PORT BEACHP A MUNICIPAL CORPORATION. AT THE DATE HEREOF EXCEPTIONS TO COVERAGE IN ADDITION TO THE PRINTED EXCEPTIONS AND EXCLUSIONS CONTAINED IIV SAID POLICY FORM WOULD BE AS FOLLOWS3 495419. PAGE I Is THE USE AND CONTROL OF CIENEGAS AND iN.ATURAL STREAMS OF WATERS IF .ANY9 NATURALLY UPON, FLOWING ACROSSP INTO OR BY SAID LANDS AND THE RIGHT OF WAY FOR AND TO CONSTRUCT IRRIGATION OR DRAINAGE DITCHES THROUGH SAID LAND TO IRRIGATE OR DRAIN THE ADJACENT LAND% AS RESERVED IN THE DEED RECORDED IN BOOK 30 PAGE 1 05 DEEDS AND IN BOOK 30 PAGE 3479 DEEDS+ 2. AN EASEMENT FOR ROADS9 RAILROADS AND DITCHES AS RESERVED IN THE INSTZUMENT ABOVE MENTIONED+ OVER! THE WEST 30 FEET A,ID NORTH 32 FEET OF SAID LAND, 3o A.N E:ASEMF NT FOR ROAD AND INCIDENTAL PURPOSES AS SET FORTH IN AN ?NSTRI.IVE +IT RECORDED IN BOOK 1599 PAGE 1`475 OFFICIAL RECORDS _>VFI? T:HE NOR,1 50 FEET OF SAID LAND. 4. A WAIVER OF ALL CLAIM FOR DAMAGES ON ACCOUNT OF THE USE DF THE EASEiOEJNT LAST ABOVE REFERRED TO AS THEREIN PROVIDED, 5. AN EASEMENT FOR HIGHWAY PURPOSES OVER THE WEST 40 FEET OF SAID LAND AS GRANTED TO THE COUNTY OF ORANGES BY DEED RECORDED APRIL 279 1953 IN BOOK 2493 PAGE 3169 OFFICIAL RECORDSo SAID DEED ALSO PROVIDES THE INTERSECTION OF THE SIDE LINES OF THE ABOVE DESCRIBED RIGHTS OF WAY WITH THE SIDE LINES OF THE RIGHT OF WAY FOR ADAMS AVENUE SHALL BE ROUNDED WITH A CURVE HAVING A RADIUS OF 13.00 FEETo 6, A WAIVER OF ALL CLAIMS FOR DAMAGES FOR AND ON ACCOUNT OF THE EASEMENT ABOVE REFERRED TO AS PROVIDED IN SAID DEED RECORDED IN BOOK 2493 PAGE 3165 OFFICIAL RECORDS. 7� AN EASEMENT FOR STREET AND HIGHWAY PURPOSES OVER THE EASTERLY 20 FEET OF THE WESTERLY 60 FEET OF SAID LANDS AS GRANTED TO THE CITY OF HUNTINGTON BEACH9 BY DEED RECORDED NOVEMBER 249 1959 IN BOOK 4987 PAGE 1465 OFFICIAL RECORDS, DESCRIPTION THE NORTH 350.00 FEET OF THE WEST 340oOO FEET OF SECTION r9 TOWNSHIP 6 SOUTH9 RANGE 10 'WEST, IN THE RANCHO LAS BOLSAS> CITY OF HUNTINGTON BEACH9 COUNTY OF ORANGE, STATE OF CALIFORNIA9 AS PER .MAP RECORDED IN BOOK 51 PAGE 14 OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, 495419 PAGE 2 0 0 TAX INFORMATIO;N N:OTEs GENERAL AND SPFCIAL TAXES FOR THE FISCAL YEAR 1970 -1971x TOTAL TAX S17925s74,. INCLUDES PERSONAL PROPERTY TAXES IN THE AMOUNT OF $N OttiEa FIRST INSTALLMENT 3962#979 PAID# SECOND INSTALLMENT $962,879 PAID- VETERANS EXEMPTION IN THE AMOUNT OF $NONE, 495419 PAGE 3 TO 236 VG • • PORTION NW A NW/4 SECTIONS T 6S R (O W ADAMS AV E. I Ai P V- O -_ - -- 'a- - - ° -- --- 3o- IBS�`1 I' '-S uNf J599.4470•Q. 30-347 Dds. I s' I 1"' I Y f S Ih I I. This is not a survey of the land but is compiled for information by the ,67 [, ,_,_„ 9.59. TI Title Insurance and Trust Company from data shown by the official records. I.i 10 + —!O III E LINE 6 I0' W I,Y—� —E LINE 2493 II III E LINE 3 0- I ,+yk�Illa, 1"' I Y f S Ih I I. This is not a survey of the land but is compiled for information by the ,67 [, ,_,_„ 9.59. TI Title Insurance and Trust Company from data shown by the official records. jr-6-673TTIQVIKV 01 Adopt proposed resolution declaring the subject property to be sur- plus, authorizing its sale and setting out the procedure for its sale. DISCUSSION: The pertinent elements of the proposed resolution are as follows: 1. The property will be offered for outright sale that is not contingent upon approval of any development plan by the City of Huntington Beach. 2. Sealed bid proposals would be received by the City Clerk from Friday, January 29, 1971, until Friday, April 2, 1971. What may appear to be a lengthy bid receipt per- iod is for the purpose of allowing prospective bidders to review their tentative development plans with Hunting - ton Beach officials. 3. The minimum acceptable bid price shall be $324,000. An oral auction process following the receipt of sealed bids is outlined in Section 7. To partially defray expenses associated with the preparation of sale documents, bidders proposal packages will be sold at a cost of $19.00. 4. The City's water rights are excepted and reserved based on enabling language in the sale resolution provided by the law firm of Taylor and Smith, the City's special water counsel. S. In accordance with City Council policy, the City will assume no responsibility to pay real estate commissions and closing costs. The designated escrow agent is Title Insurance and Trust Company of Santa Ana. b. The City Council reserves the right to reject any and all bids. The proposed sale will be on the afternoon Study Session agenda for review. HARVEY L. HURLBURT lV...�7 71i1R.: cc: City of Huntington Beach 7 K,r _7-1� . 2X4 CITY OF NEWPORT BEACH d rLr d OFFICE OF THE CITY MANAGER January 21, 1971 Agenda G -3 By the CITY COUNCIL CITY of "r-\A11'1QPM RLA4KYOR AND CITY COUNCIL Study Session Item 7 FROM: City Manager SUBJECT: PROPOSED SALE OF CITY OWNED PROPERTY AT BROOKHURST STREET AND ADAMS AVENUE IN THE CITY OF HUNTINGTON BEACH jr-6-673TTIQVIKV 01 Adopt proposed resolution declaring the subject property to be sur- plus, authorizing its sale and setting out the procedure for its sale. DISCUSSION: The pertinent elements of the proposed resolution are as follows: 1. The property will be offered for outright sale that is not contingent upon approval of any development plan by the City of Huntington Beach. 2. Sealed bid proposals would be received by the City Clerk from Friday, January 29, 1971, until Friday, April 2, 1971. What may appear to be a lengthy bid receipt per- iod is for the purpose of allowing prospective bidders to review their tentative development plans with Hunting - ton Beach officials. 3. The minimum acceptable bid price shall be $324,000. An oral auction process following the receipt of sealed bids is outlined in Section 7. To partially defray expenses associated with the preparation of sale documents, bidders proposal packages will be sold at a cost of $19.00. 4. The City's water rights are excepted and reserved based on enabling language in the sale resolution provided by the law firm of Taylor and Smith, the City's special water counsel. S. In accordance with City Council policy, the City will assume no responsibility to pay real estate commissions and closing costs. The designated escrow agent is Title Insurance and Trust Company of Santa Ana. b. The City Council reserves the right to reject any and all bids. The proposed sale will be on the afternoon Study Session agenda for review. HARVEY L. HURLBURT lV...�7 71i1R.: cc: City of Huntington Beach RESOLUTION NO. 7361 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 of Newport Beach has title to the real property hereinafter described, and WHEREAS, it appears that the City has no present or prospective need for said property; and WHEREAS', no qualified public agency has offered to purchase the property at fair market value for park and recreation purposes pursuant to Title 5, Division 2, Article I of the California Government Code; and WHEREAS, it would be in the best interests of the City to sell said property 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- owned real property hereinafter described is surplus property, and there is no present or prospective need for same: The north 350.00 feet of the west 340.00 feet of Section 8, Township 6 South, Range 10 West, in the Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the Office of the County Recorder of said County; SUBJECT TO: Easements for street and highway purposes over the northerly 50 feet and the westerly 60 feet; EXCEPTING AND RESERVING from said grant of real property, all right, title and interest in any and all waters, either appurtenant or non - appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights for use on said real property, or in the exercise of any appro- priative, prescriptive, or any other "non- riparian or non - overlying right, by delivery and use at any place or use within the watershed of the Santa Ana River and its tributaries. -1- Said property is shown on the map dated December 29, 1970, designated Drawing No. M- 5140 -5, attached hereto and marked Exhibit "A ". SECTION 2. Zoning. The subject property is presently zoned C -4, Highway Commercial, Hotel /Motel uses, and C -2 Retail, subject to a requirement that a Use Permit be obtained for any use. However, the City of Newport Beach makes no representations, either expressed or implied, as to developments which may or may not be permitted on the property. SECTION 3. Topography - Improvements. The subject property is level at street grade. Approximately 300 feet of curbs, gutters and public walks have been installed. SECTION 4. Size - Location. The subject property comprises a net of 1.93 acres (more or less) of land at the south- east corner of Brookhurst Street and Adams Avenue in the City of Huntington Beach, California. The net frontage on Brookhurst Street is three hundred feet (3001) and the net frontage on Adams Avenue is two hundred and eighty feet (280'). SECTION 5. Sealed Bids - Deposit. Said property is hereby offered for sale and bids therefor are invited, beginning Friday, January 29, 1971, under the procedure of sealed bidding and public auction as hereinafter set forth. The minimum acceptable bid shall be $324,000.00. Each bid must be on an official Bidders Proposal Form and submitted to the City of Newport Beach, City Clerk, 3300 Newport Boulevard, Newport Beach, California 92660, by 10:00 a.m., Friday, April 2, 1971. All bids shall be in a sealed envelope clearly marked: "SEALED BID PROPOSAL - BROOKHURST & ADAMS PROPERTY - HUNTINGTON BEACH ". Each bid must be unconditional and without qualifications, 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 amount bid. This deposit is to guarantee -2- I v: that if the City accepts the sealed bid or an oral bid made at the auction (see Section7) by a bidder, said bidder will complete the purchase within thirty (80) days in accordance with the bid that was accepted by the City and the terms of this resolution. If qualified sealed bids of equal amounts are submitted, the one received first by the City Clerk shall be considered the highest of such bids for all purposes. The deposit of the successful bidder shall be applied to the purchase price. Upon acceptance of the successful bid by the City Council, all other deposits shall be returned to the bidders. Failure of the successful bidder to complete the purchase as above required shall result in forfeiture of the deposit to the City. SECTION 6. Opening Bids. The sealed bids shall be opened and publicly announced in the Office of the City Clerk at 10 :00 a.m., Friday, April 2, 1971. SECTION 7. Public Auction. At the regular City Council meeting of Monday, April 12, 1971, at 7:30 p.m., the City Manager shall announce the amount of the highest sealed bid received and the name of the bidder, and shall then call for oral bids. Only those persons who have submitted a qualified sealed bid accompanied by a cash deposit or check as required may make oral bids. To be considered, the first oral bid must exceed the highest sealed bid by five per cent (5 %). Additional oral bids must be in multiples of $5,000.00 to be acceptable. In conducting the sale, the City Council may waive informalities in bids and may by motion modify the terms of this resolution as deemed necessary to obtain the highest price for the property. Upon receiving the highest bid obtainable from a qualified bidder, the City Manager shall declare the amount of the highest bid and the name of the bidder. The City Council may then determine whether it wishes to accept or reject the high bid, or the Council -3- may continue the sale until its next regular meeting. SECTION 8. Escrow Terms. The bidder to whom the property is sold must make full payment therefor to the City within thirty (30) days after the City Council approves the sale. Upon acceptance of the highest and best bid by the Newport Beach City Council, the City shall open an escrow with Title Insurance and Trust Company of santa Ana and forthwith deposit into said escrow a properly signed grant deed conveying fee title to the property. A copy of the grant deed the City is to execute and deposit into escrow is attached hereto and designated as Exhibit "B ". On notice from Title Insurance and Trust Company that it is pre- pared to issue at Buyer's expense a CLTA Standard Coverage title insurance policy with liability equal to the full purchase price showing title vested in the highest bidder, subject only to the exceptions shown in the preliminary title report, the bidder shall deposit into the escrow the difference between the bid award price and his cash or certified check bid deposit. SECTION 9. Real Estate Commissions - Closing Costs. The buyer shall pay for all recording costs and the cost of real property transfer tax within thirty 00) days after the date the City Council approves the sale. All bids will be on a NET NET NET basis and the City of Newport Beach assumes no responsibility to pay real estate commissions, recording fees, deed transfer fees, escrow fees or cost of Policy of Title Insurance and these costs should be taken into consideration when submitting bids. SECTION 10. Inability to Convey. If the property cannot legally be sold by the City or the City is unable to convey marketable fee title within a reasonable time after the date of sale, the sale shall be void and deemed mutually cancelled, and ME any price paid or deposit made shall be refunded and no liability of the City shall exist or arise from such cancellation. SECTION 11. No Warranty. No warranty is made or intended by any statement in this resolution or the notice of sale or otherwise with respect to location, size, zone or utility of any property or interest therein which is sold or offered for sale. SECTION 12. Withdrawal from Sale. The City Council reserves the right to reject any and all bids SECTION 13. Notice of Sale - Publication. The City Clerk shall prepare a notice of sale setting out the address or location, description, zone and approximate size of the property being offered for sale, the date, place and time the bids will be received and opened and the fact that additional information may be obtained from the City Clerk's office. The notice shall be published once in the official newspaper of the City, and copies of the notice and resolution shall be available in the City Clerk's office and mailed by the City Clerk upon request. SECTION 14. Official Bidders Proposal Form. All bids must be submitted on an official Bidders Proposal Form available for purchase in the City Clerk's office for $10.00. Facsimile copies of the official form are not acceptable. ADOPTED this 25th day of January , 1971. U� .ATTEST• 6Z�� City Clerk Mayor THS:mh -5- 1/21/71 ki A6. c"la /T A do NW CDR SEC. 8 - ADAMS A YE O :y CITY OF NEWPORT BEACH DRAWN .41 • DATE 69! -70 PUBLIC WORKS DEPARTMENT APPROVEApU,, e PROPERTY FOR SALE •a s� Cites eM�&,ffa AT aeoDKl,/!wsr 44N0 A04M6 /N 1vl41,oVT 1/V6T0Al BE4C14 DRAWING NO. M- 5140-5 CITY OF NEWPORT BEACH ►aPR 12 1971 OFFICE OF THE CITY MANAGER ey fhe CITY COUNCIL April 12, 1971 C47Y PrD McwpoNt q6 1f AGENDA ITEM B -1 TOE: MAYOR AND CITY COUNCIL FROM: Acting City Manager SUBJECT: SALE OF CITY -OWNED PROPERTY AT BROOKHURST STREET AND ADAMS AVENUE, HUNTINGTON BEACH RECOMMENDATION: 1) That the Mayor open and instruct the Acting City Manager to conduct an auction for sale of the subject property in accordance with Resolution 7361; 2) If desired, award sale to highest qualified bidder and instruct the City Attorney to open an escrow for sale of the property; and 3) Adopt Resolution No. authorizing the Mayor and City Clerk to execute a Grant Deed with the highest qualified bidder for subject property. DISCUSSION: On January 21, 1971, the City Council adopted Resolution 7361 de- claring the 1.93 acre Brookhurst and Adams property surplus and offering it for sale at a minimum cash bid price of $324,000. Two sealed bids with proper deposits were received by the City Clerk on April 2: Bidder Bid Price Rinker Development Company $ 327,250 10600 Katella Avenue Anaheim, Calif. 92804 Downey Savings and Loan Assn. $ 338,000 8630 East Florence Avenue Downey, Calif. 90241 In accordance with the bidding procedure, the auction process held before the City Council is limited to the qualified bidders only. The minimum auction price required for Rinker Development Company to overcall the Downey Savings and Loan bid is $354,900. Any and all additional bids must be in $5,000 increments. Page -2- The bid by Downey Savings and Loan is $14,000 over the MAI appraisal value of $324,000 established February 1969. Considering the stringent terms of the City's offer for sale and the earlier difficulties with City of Huntington Beach officials in obtaining an.approved develop- ment, the Downey offer is reasonable and is recommended for acceptance even if no other bids are received. Sale proceeds will go to the Water Fund. The escrow term is 30 days. PFB:mm CC: City of Huntington Beach Downey Savings and Loan Assn. Rinker Development Co. PHIL BETTENCOURT AND LOAN ASSOCIATION P. O. BOX 728 8630 EAST FLORENCE. AVENUE OOWNEY CA L FO RN I 90241 PHONE 923 5561 March 24, 1971 Honorable City Council City of Newport Beach 3300 Newport Boulevard - Newport Beach, California 92660 RE: Purchase of Excess Property, Resolution #7361, / Southeast Corner of Brookhurst and Adams, Huntington Beach Gentlemen: Attached herewith, upon the official form, is an offer by Downey Savings and Loan Association to purchase the above captioned property. In this regard and after discussions with Mr. Seymour, City Attorney, I have been informed that in the event of our purchase of the subject property you would permit Downey to cap the existing wells on the subject property. Also, I have been informed that the city will relinquish all right of surface entry on the property. It is acceptable to Downey, of course, that the city retain all water rights. Very truly yours, Thomas C. Starrett Counsel TCS:cl Enclosures - Sealed Bid and Deposit CITY OF NEWPORT BEACH SURPLUS REAL PROPERTY BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA PROPOSAL TO PURCHASE To the Honorable City Council City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92660 Gentlemen: The undersigned declares that he has examined the location of the surplus property; has carefully read City Council Resolution No. 7361 declaring the property to be surplus, authorizing its sale, and setting out the procedure for its sale; has carefully examined the Tait Appraisal Company report on the property; and, has carefully examined the preliminary title report of Title Insurance and Trust Com- pany dated January 21, 1971, at 7:30 a.m. The undersigned hereby proposes to purchase said real property and do all things necessary to complete the purchase if he is the successful bidder in complete accordance with the terms of Resolu- tion 7361 and will make full payment therefor within thirty (30) days after the award of the bid. The undersigned further declares that his offer is unconditional and without ex- ception; that it is not conditioned upon the approval of any proposed development by the City of Huntington Beach; and that he will pay all recording costs and closing costs associated with purchase of the property. Accompanying this pro- posal is a cashier's check, certified check,or cash deposit equal to ten percent (10 %) of the bid price as a guarantee that if the proposal is accepted, the under- signed will complete the purchase transaction as provided in Resolution 7361. The undersigned is aware that failure of the successful bidder to complete the purchase as required shall result in forfeiture of the deposit to the City. TOTAL BID PRICE: WRITTEN IN WORDS - WRITTEN IN NLbSERS - Three hundred thirty -eight thousand Dollars $ 338. 000. 00 and No Cents TOTAL DEPOSIT: WRITTEN IN WORDS - WRITTEN IN NLNBERS - Thirty 'Ehree thousand eight hundred Dollars $ 33,800. 00 and No Cents Downey Savings and Loan Association Bidder's Name Authorized gnature Maurice L. McAlister, President P.O. Box 728, 8630 East Florence Avenue, Downey, California 90241 Bidders Address zip C-OUF 923 -5561 Telephone er Date March 15. 1971 CITY OF NEWPORT BEACH SURPLUS REAL PROPERTY BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA To the Honorable City Council City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92660 Gentlemen: The undersigned declares that he has examined the location of the surplus property; has carefully read City Council Resolution No. 7361 declaring the property to be surplus, authorizing its sale, and setting out the procedure for its sale; has carefully examined the Tait Appraisal Company report on the property; and, has carefully examined the preliminary title report of Title Insurance and Trust Com- pany dated January 21, 1971, at 7:30 a.m. The undersigned hereby proposes to purchase said real property and do all things necessary to complete the purchase if he is the successful bidder in complete accordance with the terms of Resolu- tion 7361 and will make full payment therefor within thirty (30) days after the award of the bid. The undersigned further declares that his offer is unconditional and without ex- ception; that it is not conditioned upon the approval of any proposed development by the City of Huntington Beach; and that he will pay all recording costs and closing costs associated with purchase of the property. Accompanying this pro- posal is a cashier's check, certified check,or cash deposit equal to ten percent (10%) of the bid price as a guarantee that if the proposal is accepted, the under- signed will complete the purchase transaction as provided in Resolution 7361. The undersigned is aware that failure of the successful bidder to complete the purchase as required shall result in forfeiture of the deposit to the City. TOTAL BID PRICE: WRITTEN IN WORDS - WRITTEN IN NLb1BERS - Three Hundred Twenty-Seven Thousan(bollars $ 327, 250. 00 Two Hundred Fifty Dollars and s��s�s�sssssssssss TOTAL DEPOSIT: WRITTEN IN WORDS - WRITTEN IN NUMBERS - Thirty -Two Thousand Seven Hundred Dollars $32,725.00 Twenty-Five Dollars and Cents Rinker Develo ment Co alt r A.'.f'rome Jr- .6"l/�` /� 1 er s Name Authorized ignature Sec.- Treas. 10600 Katella Avenue, P. O. Box 2218, Anaheim, California 92804 . 3 (714) 774 -7443 Date April 1, 1971 Telephone er A.A30jimcm so. 9 8 A Pwso .i;`1' aj Cie Tft , azvy CLbLtA' CI.L or M crr R: LiPtAWr Dz= COIiHLT',iFM YROP4-= LOCATR; BROQVMMT STRUT AAD ADAMS AUNUE WREit;Nl, by Rss*olut.on We. '7361 dat±d Janusry ^a: 1.971, th City .Counci'l O;c t`;v City of lies: sort Fseach 44cl4z'- detain r«a1, p -�Fporty located at the 3nterr.r.ctjon of Brookliurst Street 'end Adams 3?.veaua, In the City or HLuatiaczton sea-h, Legally �a- iscrib d 1s follows, to be rplus, aothorieed its s -31e and not out the procedure for its sale= .x The north 350.00 foot of t2sa, vest 340.0 0 feet of 3ectiixi Be Tcrwnr Ship 5 aqath, R:asq,. 10 West, in the Ranao L$o Bolsaa, City'of'ffuntington Besth, County of Gasngm. State of C-2Iiforni4, as por map recorded in Awk 31, Page 14 as Mi :call iuwou a Mps,, in the offica� of the County Recorder of said Countys S bject to ne$ #a for street and highway purpo:Naa over the northerly So foot and the, westerly 60 feetp , on April 20 1071, bide to purchase uaid pwa "rty v An ec4ived and opened by the City Clerk; and W1MR&4.B, after holding a public hearing at which - *' JJl. ' b :t-i; were considered, t2xic� City Council has determined that the hi,: ::: bid therefor ha.i been �,Wmitted by .;3owreay avings and I aaa .&SOOCiution in the amount of S 419,900 r:-kd that .ald €sum is fair and �C.cptabX::: NCO* ROV ", W IT 30;,VD by the City Council of ha City of Newport Bi� zch th it the Mayor sand City Clerk acre h4k- r %. by auehori td to execute M grant derad wx behalf of the city of art Beach, conveying said propexrty to Downey Savings and Loan 'asoeiation , la accordance with ths t:cima i:t a conditions s,_t forth in said Rs olat:ion no. 7351, ADOPTZD thia F12 day of .iiasil. 2 71. ATTEST: +Mayor "ity w:erx z 4/ 12,'71 W ea te.azl • Eacrow no. 495419-14iL The GENERAL PROVISIONS printed on the reverse side of this page of these instructions are by reference thereto incorporated herein and made a part hereof. Time is of the essence of these instructions. if this escrow is not in condition to close by 311nf la 1971 , any party who then shall have fully complied with his instructions may, in writing, demand the return of his money and /or property; but if none have complied, no demand for return thereof shall be recognized until five days after the escrow holder shall have mailed copies of such demand to all other parties at their respective addresses shown in the escrow instructions. If no such demand is made, close this escrow as soon as possible. Any amendment of or supplements to any instructions must be in writing. Deliver title insurance policy to Downey Savings and loan Association, 5630 Florence Ave., Instruct Recorder to mail Grant Do" to Buyer. Downey, California Begin search of title at once. I pay cost of title insurance policy* escrow fee, recording fee, real property transfer tax and any and all other closing costa. Signature Address Telephone Signature Address Telephone Title lnsurance and Trust Company: Date: April 160 1971 1 have read and approve the foregoing instructions. On or before June 11 1971 I Will hand you Grant Deed as called for an page i hereof which you will deliver when you can issue the policy of title insurance called for and bold for the Seller funds as called for an ve m i hereof. Seller acknowledges receipt of a check fran Myer in the amount, of $33,500.00, as a deposit, which am is to be applied to the total purchase price of the property Mich is Fogr Hundred Nineteen, Thousand and ao /100 Dollars ($419,000.00). Said an of $33, 800.00 shall not be deposited in this escrow, but sball be held by Seller subject to the terms and conditions of Resolution no. 7361 adopted by the City Council of the City of ,Newport Search an January 25, 1971. The GENERAL PROVISIONS printed or_ the reverse side of this page of these instructions are by reference thereto incorporated herein and made a part hereof. Pay all encumbrances of record necessary to place title in the condition called for. 1 will hand you any funds and instruments required for such purpose. Deliver title insurance policy to Buyer. Instruct Recorder to mail Grant Deed to Wayer. Begin search of title at once.) CITY or NEWP M ZRACK Signature Address Telephone 3300 Boulevard Signature s/s Laura LdEl05 ;' Address Ne"Ort Beach, Calif. Telephone 673 -1110 — 'CILp"Ce17C —Page — GENERAL PROVISIONS All funds received in this escrow shall be deposited with other escrow funds in a general escrow account or accounts of Title Insurance and Trust Company, with any State or National Bank, and may be transferred to any other such general escrow account or accounts. All disbursements shall be made by check of Title Insur- ance and Trust Company. Any commitment made in writing to Title Insurance and Trust Company by a bank, trust company, insur- ance company, or building and loan or savings and loan association, to deliver its check or funds into this escrow may, in the sole discretion of Title Insurance and Trust Company, be treated as the equivalent of a deposit herein of the amount thereof. All adjustments to be made on a basis of 30 -day month. Recordation of any instruments delivered through this escrow, if necessary or proper in the issuance of the policy of title insurance called for, is authorized. No examination or insurance as to the amount or payment of real or personal property taxes is required unless the real property tax is payable on or before the date of the policy of title insurance. If any party to these instructions obtains a loan on the land involved, and during the pendency of this escrow, you are authorized to furnish the lender, or anyone operating on its behalf, any information concerning this escrow, including, but not limited to, a certified copy of the escrow instructions and any amendments thereto. Execute on behalf of the parties hereto, form assignments of interest in any insurance policies (other than title insurance) called for herein and forward them upon close of escrow to the agent with the request, first, that insurer consent to such transfer or attach loss - payable clause or make such other additions or corrections as may have been specifically required herein, and second, that the agent thereafter forward such policies to the parties entitled to them. In all acts in this escrow relating to fire insurance, including adjustments, if any, you shall be fully protected in assuming that each such policy is in force and that the necessary premium therefor has been paid. Unless you are otherwise specifically requested by written instructions so to do, no examination nor insurance as to the applicability, amount or payment of any transfer tax, imposed by any local, city or county ordinance or otherwise, is required through this escrow, as the same will be taken care of by the parties hereto outside of escrow and you are not to be concerned with the payment of any such tax. 0 • 65 C PAGE 1 Escrow No. 495419 -14i • ESCROW INSTRUCTIONS • Date: lYprii 16, 1971 TITLE INSURANCE AND TRUST COMPANY: On or before JOW 1*, 1971 I will hand you the SM Of three isasdred Eighty -FIve ftousamd Tm and sollO0 bollars 0385,300.00) which you will deliver when you obtain and reteesd 8 grant deed is the to= attached' hereto as ffieibit A and when you can issue your usual form standard CIM oMllm' a policy of title insurance with liability not exceeding $ 419.000 on that certain land is the City of Nmetington ssach. County of Oral state of Calilorsiao being the MKt'h 350.00 feat of the waft 340.00 Past of Section 8, wounob4 6 south, Mange 10 Rent, is the Rancto Las eeelaas. City of nontisgitos sescho County of Orange, State of California, as per map recorded in Bode 51, Vage 14 of Ideeaellanecus *Vs. In the office of the County Recorder of said County showing title vested in 90MV BMW AIRY LOW A8910CIUMi, a California corporation SUBJECT ONLY TO: (1) Vxes for the fiscal year 19 70 -1971 to be prorated to toe "to of closing. (2) Covenants, conditions; restrictions and public utility easements of record, provided said easements do not exceed six feet in width and are along the rear or one side line of said land, or are along the rear and one side line of said land. (3) � ®r is provides atf0 ' an recited Is the grant deed s i A R=nVMM from said grant of real property, all right. titles and Interest is any and all watem either appurtmant or nook- appurtenant to said real property, sad itch at any time have flowed at male is the future flea an the su;'face. or percolate an ground waters underlying said real property, iscluding any Overlying or riparian rights to such waters, and the riot to twos, divert4 elctract or prOdImn such watem ebether in the emarcise of overlying or riparian rights for use an said real property, er is the amccies of any apprepriative, prescriptive, or say other non - riparian, or sus -over ping r1ots by delivery and use at any place of use within the watershed of the Santa Ana River and its tributaries. fh• f regoisg reservation of water rL*its shall a>ot be construed to reserve to Grantor any surface right of entry an the property. - Page I - ' �L'i?RdING REOU$SYED BV"" � AND WNaN ANCORD&D MAIL TO t SPACE ABOVE YNIS UNE FOR RECORDER'S USE D.T.T. s TO 406 CA (7.68) J Corporation Grant Deed THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, CITY OF NEWPORT BEACH a corporation organized under the laws of the state of hereby GRANTS to DOWNEY SAVINGS AND LOAN ASSOCIATION, a California corporation . the following described real property in the City of Huntington Beach County of Orange , State of California: The north 350.00 feet of the west 340.00 feet of Section 8, Township 6 South, Range 10 West, in the,,Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the office of the County Recorder of said County SUBJECT TO Easements for street and highway purposes over the 50 feet and the westerly 60 feet; EXCEPTING AND RESERVING from said grant of real property, all right, title, and interest in any and all waters, either appurtenant or non - appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights to such waters, and the right to take, divert, extract or produo such waters, whether in the exercise of overlying.Or riparian rights fo use on said real property, or in the exercise of any appropriative, prescriptive, or any other non- riparian or non - overlying rights by delivery and use at any place of use. within the watershed of the Santa Ana River and its tributaries. The foregoing reservation of water rights shall of be construed to reserve to Grantor any surface right o entry ¢n tie Property In Witness Whereof), said corporation has caused its corporate name and sea] to be affixed hereto and this instru• ment to be executed by'WL Mayor xxdcdFdPYtxand City Clerk R}lK thereunto duly authorized. Dated: T- tr30 "! STATE OF CALIFORNIA COUNTY Oha'., Orange SS' On �grlt�l 16 • lsii before me. the tinder• signed. a Notary Public in and for said State, personally appeared E. Y Hixrth known to me to be the Mayer —t. and Lagies — known to me to be ark p f the Corporation that executed the tA wit ns mment• known to me to be the persons who executed the within Instrument on bchalf of the Corporation therein named, and acknowledged to me that such Corporation executed the within Intiru ment pursuant to its by -laws or a resolution of its board of directors WITNESS my hand and official seal. Signature s/s DDrothY L. Palm) Title Name (Typed or Printed) 13Y able E. F. Hi, Mayor Y gxaIJA%k By 6/9 Laura la dos City Cleridar3umqc (Tale .rra f.'.1111 l .1.11N .10) MAIL TAX STATEMENTS AS 0111E0E0 A91jV€ EXHIBIT "A" N.�n. AENf.,, ., Cih a x eM L J MAII TAR aTAnM[Nn TO NOin. str..t ATM.... Citr a 5"T" L J t SPACE ABOVE YNIS UNE FOR RECORDER'S USE D.T.T. s TO 406 CA (7.68) J Corporation Grant Deed THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, CITY OF NEWPORT BEACH a corporation organized under the laws of the state of hereby GRANTS to DOWNEY SAVINGS AND LOAN ASSOCIATION, a California corporation . the following described real property in the City of Huntington Beach County of Orange , State of California: The north 350.00 feet of the west 340.00 feet of Section 8, Township 6 South, Range 10 West, in the,,Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the office of the County Recorder of said County SUBJECT TO Easements for street and highway purposes over the 50 feet and the westerly 60 feet; EXCEPTING AND RESERVING from said grant of real property, all right, title, and interest in any and all waters, either appurtenant or non - appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights to such waters, and the right to take, divert, extract or produo such waters, whether in the exercise of overlying.Or riparian rights fo use on said real property, or in the exercise of any appropriative, prescriptive, or any other non- riparian or non - overlying rights by delivery and use at any place of use. within the watershed of the Santa Ana River and its tributaries. The foregoing reservation of water rights shall of be construed to reserve to Grantor any surface right o entry ¢n tie Property In Witness Whereof), said corporation has caused its corporate name and sea] to be affixed hereto and this instru• ment to be executed by'WL Mayor xxdcdFdPYtxand City Clerk R}lK thereunto duly authorized. Dated: T- tr30 "! STATE OF CALIFORNIA COUNTY Oha'., Orange SS' On �grlt�l 16 • lsii before me. the tinder• signed. a Notary Public in and for said State, personally appeared E. Y Hixrth known to me to be the Mayer —t. and Lagies — known to me to be ark p f the Corporation that executed the tA wit ns mment• known to me to be the persons who executed the within Instrument on bchalf of the Corporation therein named, and acknowledged to me that such Corporation executed the within Intiru ment pursuant to its by -laws or a resolution of its board of directors WITNESS my hand and official seal. Signature s/s DDrothY L. Palm) Title Name (Typed or Printed) 13Y able E. F. Hi, Mayor Y gxaIJA%k By 6/9 Laura la dos City Cleridar3umqc (Tale .rra f.'.1111 l .1.11N .10) MAIL TAX STATEMENTS AS 0111E0E0 A91jV€ EXHIBIT "A" 4k 6 CITY CLEM April 19, 1971 CITY ATrORNE'Y "M� :. Attached are the executed original and five copies of the grant deed on the Adams- Brookhurst property. Also attached are the executed original and four copies of the escrow instructions. We would appreciate receiving the date, the book and page number assigned to the deed vhen it is recorded in the official records of Orange County by the County Recorder so that we may have a complete reoord. Laura Lagics City Cleric LLL,wk e�,as a rrj:e i Fscrow No. 49$419 —NL ESCROW INSTRUCTIONS Date: April 16, 1971 TITLE INSURANCE AND TRUST COMPANY: On or before June 1, 1971 11 will hand you the sum of Three Hundred Eighty —Five Thousand Two Hundred and no /100 Dollars ($385,200.00) which you will deliver when you obtain and record a grant deed in the form attached hereto as Exhibit A and when you can issue your usual form standard CLTA Owner's Policy of title insurance with liability not exceeding $ 419, 000 on that certain land in the City of Huntington Beach, County of Orange, State of California, being the north 350.00 feet of the west 340.00 feet of Section 8, Township 6 South, Range 10 West, in the Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the office of the County Recorder of said County showing title vested in DOWNEY SAVINGS AND LOAN ASSOCIATION, a California corporation SUBJECT ONLY TO: (1) Taxes for the fiscal year 19 70 -1971 to be prorated to the date of closing. (2) Covenants, conditions, restrictions and public utility easements of record, provided said easements do not exceed six feet in width and are along the rear or one side line of said land, or are along the rear and one side line of said land. (3) Reservation of water rights to grantor, as recited in the grant deed attached hereto which provides as follows: "EXCEPTING AND RESERVING from said grant of real property, all right, title, and interest in any and all waters, either appurtenant or non - appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights to such waters, and the right to take, divert, extract or produce such wagers, whether in the exercise of overlying or riparian rights for use on said real property, or in the exercise of any appropriative, prescriptive, or any other non- riparian or non - overlying rights by delivery and use at any place of use within the watershed of the Santa Ana River and its tributaries. The foregoing reservation of water rights shall not be construed to reserve to Grantor any surface right of entry on the property." -Page 1 - an ea )e -ev) Escrow No. 495419 -NL The GENERAL PROVISIONS printed on the reverse side of this page of these instructions are by reference thereto incorporated herein and made a part hereof. Time is of the essence of these instructions. If this escrow is not in condition to close by June 1, 1971 , any party who then shall have fully complied with his instructions may, in writing, demand the return of his money and /or property; but if none have complied, no demand for return thereof shall be recognized until live days after the escrow holder shall have mailed copies of such demand to all other parties at their respective addresses shown in the escrow instructions. If no such demand is made, close this escrow as soon as possible. Any amendment of or supplements to any instructions must be in writing. Deliver title insurance policy to Downey Savings and Loan Association, 8630 Florence. Ave., Instruct Recorder to mail Grant Deed to Buyer. Downey, California Begin search of title at once. I pay cost of title insurance ppolicy, escrow fee, recording fee, real property transfer tax and any and all other closing costs. Signature Address Telephone Signature Address Telephone Title Insurance and Trust Company: Date: April 16, 1971 1 have read and approve the foregoing instructions. On or before June 1, 1971 I will handyou Grant Deed as called for on page 3 hereof which you will deliver when you can issue the policy of title insurance called for and hold for the Seller funds as called for on page 1 hereof. Seller acknowledges receipt of a check from Buyer in the amount of $33,800.00, as a deposit, which sum is to be applied to the total purchase price of the property which is Four Hundred Nineteen Thousand and no /100 Dollars ($419,000.00).' Said sum of $33,800.00 shall not be deposited in this escrow, but shall be held by Seller subject to the terms and conditions of Resolution No. 7361 adopted by the City Council of the City of Newport Beach on January 25, 1971. The GENERAL PROVISIONS printed on the reverse side of this page of these instructions are by reference thereto incorporated herein and made a part hereof. Pay all encumbrances of record necessary to place title in the condition called for. I will hand you any funds and instruments required for such purpose. Deliver title insurance policy to Buyer. Instruct Recorder to mail Grant Deed to Buyer. Begin search of title at once. C CITY OF SignatureY Address Telephone 3300 Newport Boulevard 673 -2110 Signature o Address Newport Beach, Calif. Telephone —Page RECORDING REQUESTED BY AMY wM{M MaIMMI tO MAIL TO - Stn01 ' at, 4 J 4NN L SPACE ABOVE THIS LINK FOR RKCORDKR'S USE MAIL TAX RATI o To - .. shoo Aaa,aY sM L J D.T.T. 4 Corporation Grant Deed TO And OA 11.661 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, CITY OF NEWPORT BEACH a corporation organized under the laws of the state of hereby GRANTS to DOWNEY SAVINGS AND LOAN ASSOCIATION, a California corporaticp the following described real property in the City Of Huntington Beach County of Orange The north 350.00 feet of South, Range 10 West, in Beach, County of Orange, Book 51, Page 14 of Misc Recorder of said County; , State of California: the west 340.00 feet of Section 8, Township 6 the Rancho Las Bolsas, City of Huntington State of California, as per map recorded in allaneous Maps, in the office of the County SUBJECT TO: Easements for street and highway purposes over the northe 50 feet and the westerly 60 feet; EXCEPTING AND RESERVING from said grant of real property, all right, title, and interest in any and all waters, either appurtenant or non - appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights to such waters, and the right to take, divert, extract or produce such waters, whether in the exercise of overlying.or riparian rights for use on said real property, or in the exercise of any appropriative, prescriptive, or any other non - riparian or non - overlying rights by delivery and use at any place of use within the watershed of the Santa Ana River and its tributaries. The foregoing reservation of water r' hts shall jrkot be construed to reserve to Grantor any surface right o entry Qqn tpe Property In Witness Whereo , sat has caused its corporate name and seal to be affixed hereto and this instru- ment to be executed by its MaYor wand City Clerk 3itilkAA9C thereunto dplygpthlrze1971 Dated: f STATE OF CALIFORNIA COU %Y 0 Orange SS. On April 16, 1971 before me, the under• signet!; a Notary 1'uhlic in and for said State, personally appeared 1 F. Hirth known to�11e to be the Mayor ''PR51 and L3Ura Lagios known to me . to be City Clerk Selo Nry, of the Corporation that executed the within Instrument. known to me to be the persons who executed the within Instrument on behalf of the Corporation therein named, and acknowledged to me that such Corporation executed the within Instru ment pursuant to its bylaws or a resolution of its board of directors, WITNESS my he and official seal. Signature , Name (Typed or Printed) __ ____ __ __ ___ _____.. _._..........................,s DOROTHY L. PALEN t� Noury Public I a� ' • Stale rt California Principal ottice In Orange County My Commission Expires Feb. 9, 1973 :... .......... ............................... (TIA. ,m for oaMAl nN.HAt Msn d(l CITY 08 NEWPORT BEACH Office of CITY ATTORNEY To: Finance Director From: City Attorney April 16, 1971 Subject: Deposit of Downey Savings and Loan re purchase of property at Brookhurst and Adams - $33,800 Transmitted herewith is a check in the amount of $33,800 which was submitted by Downey Savings and Loan Association in connection with its successful bid for the purchase of the City =owned property at Adams and Brookhurst. We are opening Escrow No. 495419 -NI, at Title Insurance & Trust Company for the sale of this property. The attached check.should be deposited to the credit of the City as it is security for the performance of the buyer. It will not be necessary to deposit this check into escrow; we will acknowledge receipt and retention of it in the escrow instructions. TULLY H. SEYMOUR City Attorney THS:mh Att. cc: City Clerk City Manager _t 1. Information regarding the sale of Ci -caned property at Brookhurst and Adams: Bid opening at City Clerk's office at 10:00 a.m., Friday, April 2, 1971. Be sure to mark envelope with time and date of receiving proposal, and sign. If qualified sealed bids of equal amounts are submitted, the one received first by the City Clerk shall be considered the highest. The minimum acceptable bid is $324,000. Bid must be accompanied by 10% of amount of bid in the form of actual cash, or a certified or cashier's check. (Absolutely no personal checks accepted nor bidder's bonds). But okay to accept personal check for the $10 for purchase of the official bidder's proposal forms. The $10 is non- refundable. When picking up official Bidder's Proposal Form, they can look at sample set. The resolutions are for information purposes, so let them have a copy. Also send copy of resolutions and notice to those making inquiries over the phone. (Keep record of such inquiries on the yellow check out sheet). Be sure to have anyone picking up the official forms, SiE their nary, address and telephone number on the check out sheet, check that the 10 was received, make receipt for 10 out in triplicate; original to them, one copy for us and one for Lee MacDonald. (Name and address are requested in case we want to send additional information to all those taking out official forms). An auction will be held at next Council meeting following bid opening; April 12, 1971. The first oral bid must exceed the highest sealed bid by 5% and additional oral bids must be in multiples of $5,000. Only those persons who have submitted a qualified sealed bid accompanied by deposit as required may make oral bids. The deposit of the successful bidder shall be applied to purchase price, all other deposits shall be returned to the bidders. ABSOLUTELY NO PERSONAL CHECKS FOR THE 10% AMOUNT OF BID. l49Ci J t 11'8 . • .%. ;,�,,,.,� .� F, �9?L � / r,.n,4 1 .��.rJ //' ,e 1 r e iv - Mfr. ' �!". .: �..t..1►::... .. / r1�v _ � C R L- _ � _ �� �� ., a a /,-Z ei� AP-7-1 I IVA �V"v9 t" u v .o'.l °.- L�1 e i , /� {�j9 J �� �� LAW OFFICES FULOP, ROLSTON, BURNS & MCKWMCK A PROFESSIONAL COV"R&MON 9601 Wilshire Boulevard, Suite 300, Beverly Hills, California 90210 Telephone: (213) 278 -6500 or 878 -2654 Cable: Fulbrick January 22, 1971 City of Newport Beach City Hall Newport Beach, California 92663 Re: Southeast Corner Brockhurst and Adams, Fountain Valley, California Gentlemen: Our File Number 4234 i { Regarding the above property, we understand that the City Council will authorize the sale of this property on January 25, 1971. We would appreciate your forwarding to us a bidder's proposal package. Our check payable to you in the amount of $10.00 is enclosed herewith. Yours truly, Lowell R. Marks of FULOP, ROLSTON, BURNS & McKITTRICK LRM:cl Enclosure cc: Back Bay Investment Company Proposal packet sent to above on Friday, January 29, 1971. swk i [�- - - CITY OF NEWPORT BEACH c. N''wpo wVAON* .D. ALI r 0/1 Recevied From ...... ... roRm NO* 10799 ACCOUNT NO. AmoumT 0,0 o t q k 14 AND LOAN P. O. BOX 728. 8.630 EAST FLORENCE AVENUE DOWNEY. CALIFORNIA PHONE 923 -5561 MAVRICE L. WALISTER PRESIDENT February 10, 1971 Laura Lagios City Clerk City of Newport Beach 3300 Newport Blvd. Newport Beach, Calif. 92660 Re: Brookhurst and Adams Huntington Beach Dear Miss Lagios: (D Ei "- J/ . NEWPORT sc CAI F Ayy Enclosed is check No. 107462 in the amount of $10. 00 payable to the City of Newport Beach. Please send us the necessary Notice to Bidders and Official Proposal to Purchase forms for subject property. Thank you. ld Enc. Sincerely, (Mrs. )Loretta Delamore Secretary to Mr. McAlister Recey' ACCOUNT No. o 7 CITY OF NEWPORT BEACH AMCUKV ow"Mm ♦ $200 o_ (714) 636 -3790 L;--FA V INVESTMENT DIVISION KATELLA PF 12342 HARBOR BLVD. - GARDEN GROVE, CALIFORNIA 92640 REALTY March 8, 1971 City Clerk City of Newport Beach 3300 Newport Blvd. Newport Beach, California Dear Sir; Could you please forward a bidding kit to the undersigned, for surplus property being offered for sale by your City. Said property is at the South /East corner of Adams & Brook - hurst Streets, H ington Beach. Enclosed you will find $10.00 —€Gx the n ormation. SiyrCcere n' Schantz, ealtor JRS /ab x:.sc _ q i INVESTMENT COUNSELLORS - EXCHANGES - UNITS - COMMERCIAL TEN CONVENIENTLY LOCATED OFFICES SERVING ALL OF ORANGE COUNTY i� Recevied From FORT i 41 CITY OF NEWPORT BEACH ACCOUNT N9. AMGUNT 0 y.510 1 ij2-&4 DCPANTM 19 -1/ N °. 10926 6®©9 REALTY COMPANY 19661 Ventura Blvd. Tarzana, Calif. 91356 DOWNTOWN OFFICE ❑ 464 W. 7th Strad San Pedro, Calif. 90731 832 -2453 March 1, 1971 City Clerk City of Newport Beach 3300 Newport Blvd. Newport Beach,CAllf. 92660 Dear City Clerk: ROLLING HILLS OFFICE ❑ 2160 Via Colinita Miralufe, Calif. 90732 8321174 SOUTH SHORES OFFICE ❑ 2111 W. 25th Strad San Pedro, Calif. 90732 832 -0236 Enclosed herewith ten dollars covering our fee of the in ormative package property or sale, loacated Brookhurst Street and Adams of Huntington Beach. Respect =, Felix etros concerning the citys at the corner of Avenue in the city CA 7 CITY OF NEWPORT BEACH N° 10798 N ►awT auDN, aA /. 19 ILL Recevied From ......... °._`�`_...._._.— �— __ _.. _....._.... $. /..o.�=.� . ►Dar L— __.. 4. A. Cie I. ADeou NT No. AMOUNT 1 192. for �O.o° aw.otse. 1 /6�a"G"�, 9A►�1�d6 � _ �h February 10, 1971 Mrs. Lagios, City Clerk City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92660 Subject:' '6- rookhursE and'Ailains-'Property Dear Mrs. Lagios: Enclosed is a check in the amount of.$10.00 for the bid packet covering the subject parcel to be sold by your City on April 2, 1971. We would appreciate all that you can do to expedite this data. Thank you. Very erl i n BP:alw Encl. (r�!.. y Or \��9liF,e�ACy M A I I P DE0LIH 3 8 ]'O W I L 8 H 1 F E 8 O U L E V A R O • L O 3 A N O E L E B. C A L 1 F O P N 1 A e O O O'8 • O U B - 1 8 1 8 February 10, 1971 Mrs. Lagios, City Clerk City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92660 Subject:' '6- rookhursE and'Ailains-'Property Dear Mrs. Lagios: Enclosed is a check in the amount of.$10.00 for the bid packet covering the subject parcel to be sold by your City on April 2, 1971. We would appreciate all that you can do to expedite this data. Thank you. Very erl i n BP:alw Encl. (r�!.. y Or \��9liF,e�ACy OFFICIAL BIDDERS PROPOSAL FOFMS ISSUED t sm S SIGN HERE D Date 10 fee P Picked up Name and Address P Phone R Rec °d a at Comter M Mailed Lowell Marks of ? (213) / ? / yj 9 9601 W y 2 ,f y y . • OFFICIAL BIDDERS PROPOSAL FOR,1S ISSUED Moll Date SIGN HERE IAte Only Nacre and Address Phone 10 feg, Rec' d Picked up at Counter I Mailed / n j/E5-r /17 tF ✓( o/ �4L,TY c C -7- f�/� ?fLLQ ia3 ,�lt�o�2 �� 9,�6440 z -379a 3 ✓ S� 67� Don1, G -rES, �t �� s -9TH TRo /Joe 2 3 { �Ilo, eA ] look) 1 1 t 1 1 f I . i 4 • I Date Name and Address 0 REQUESTS FOR RESOUJTION NO. 7361 1 C��OW�lG l;/NceiZG .3 /Y. /3,e eoo tyq ✓ -- Sq 4/7-p XI n//J 9J/O � 9-S-- -7/ Max �I• �A 2/L :7L✓r12 L r.4-) C"c--2 /'2 — Phone No fl °oaf � T y�'�'fd ' / / /�✓,e. V ue � i f-1,C ���r e� �4; c 6 7 3 "CQh %ur y c" }i / Lcsny - /�a C.. 7ee67 1y / y- /� /6 / 4 <s / / Ne /�r /-� e 6-,'4 o I I�• �'�+ / ri�G- YtCiw'I dL¢ryiCG,S Mailed 7/ -)-3- / / -Z -% 51 - D E�v 7 Picked Up e/3% Sa3 - Aso �AiYi �a �i.,y emu, C/a %Jo5 0 6c,&333J �erm krPx 6Cli-t� �NDCAN ASSOCIATION �P. O. BOX 728 8630 EAST FLORENCE AVENUE i MAURICE L. MCAL/STER PRP IDENT P DOWNEY. CALIFORNIA') PHONE 923 -5561 February 1, 1971 Office of the City Clerk Newport Beach City Hall City of Newport Beach 3300 Newport Blvd. Newport Beach, California 92660 Re: Brookhurst & Adams, Huntington Beach Gentlemen: Please send us Notice to Bidders and Official Proposal to Purchase forms for the above referenced property. Sincerely, Maurice L. McAlister President MLM:ld sent Resolution No.7361 2 -3 -71 swk y� SUITE 9- HUNDRED THE HARTFORD PLAZA du zors ISO SOUTH WACKEI DRIVE. n1imited CHICAGO, IL 60606 , •- Inc81Poeofod /3Cl/ 3680106 DAVID .BAKER President JEROME C. GATTO Vree Pr...;denr MICHAEL 1. POPE March 10, 1971 H "idm Agent City Clerk City of Newport Beach 3300 Newport Blvd Newport Beach, California 92660 Gentlemen: In response to your Ad of March 3, in the Wall Street Journal, I am extremely desirous of learning the facts pertinent to your proposed offer or Capital Investment Program. Advizors /Unlimited has been involved in a great many projects over the last 10 years and we are eager to further diversify our business holdings and allocate as much of our cash flow as practical. We will make any necessary property inspections. Please send all of the details to me at once for my consideration, keeping in mind that everything you send will be considered confidential. Please reply to our California office 2271 Anna Drive, Santa Clara, California, 95050. We look forward to your early response, I remain Sip eeely yours, Joseph C. Biscotti DIRECTOR PUBLIC RELATIONS' JCB /gms "Promotional and Financial Services to Business and Industry Since 1961" ij _c C 0 C Ct, �` g Z NFVYPpc, r?ri f E OF CqUF H 7 o &% , 0 March 10, 1971 City Clerk City of Newport Beach 3300 Newport Blvd., Newport Beach, California 92660 0 Re: Advertisement "FOR SALE, PRIME COMMERCIAL CORNER" Brookhurst St. & Adams 280 x 300 It will be appreciated if you will send me brochures or information you might have on your above ad. Thank you. c, j11 �"�� Box 3338 Term. Annex Los Angeles, California 90054 i C] INVESTORS GROUP, LTD. /ARIZONA /CALIFORNIA /NEW YORK/9777 WILSHIRE BOULEVARD /BEVERLY HILLS, CALIFORNIA, 90212/(213) 274 -8807 March 3, 1971 City Clerk City of Newport Beach 3300 Newport Blvd. Newport Beach, California 92660 Re: Your Advertisement in the Wall St. Journal of 3/3/71 Dear Sir: We are interested in the above referenced advertisement regarding the prime commercial corner for sale at Brookhurst St, and Adams Avenue in Huntington Beach. Please forward all sealed bid information to the undersigned at your convenience. Thank you for your cooperation. Very truly yours, 4q Max H. Baril MHB /lkg An M.D. Mayer Associates Inc., Company March 1, 1971 City Clerk City of Newport Beach 3300 Newport Blvd. Newport Beach, California 92660 Dear Sir: GATEWAY WEST BUILDING 1801 AVENUE OF THE STARS SUITE 633 "CENTURY CITY ", LOS ANGELES. CALIFORNIA 90067 PHONE: 553-2090 Please send me information on the "Prime commercial corner at Brookhurst St. & Adams Ave., Huntington Beach" for sale, as advertised. Thank you. Sincerely yours, f David E. Phillippe _. President CITY OF N mgwp M. cA owz BEACH N? 11100 1.3-ZL k-fol to-c" DCPARTMCK I ��:, �icf � pQ -, a ��' CITY OF CALIF. Recevied From FORS ACCOUNT NO. AMOUNT -.7.77 7. 7.,�,,, ,,Jmq "N 0-0 BEACH N? 10991 CITY OF Y[ACN. CALM RT BEACH .ZL• 19 71/ N° 10906 Recevied From .._........... '"!!� qq . _........... FORS �s -8m/ /e•o -o ao 3 ,A CITY OF NEWPORT BEACH jwT o"ON. OAWG 1.3 .rgIJ7l�ri• N? 10761 sp ZO ACCOUNT NO. O. 1- - -fra r RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE ZCIT OF NEWPORT BEACH DECLARING CERTAIN REAL PROPERTY TO E SURPLUS, AUTHORIZING ITS AND SETTING THE PROCEDURE FOR ITS LE WHEREAS, the C ty of Newport Bea has title to the real property hereinafter WHEREAS, it prospective need for said WHEREAS, no purchase the property at purposes pursuant to Title California Government WHEREAS, it to sell said propert conditions; N/ION hereby FIND Sowned real ibed; and ars that th roperty• and fied ublic J under City has no present or agency has offered to value for park and recreation Division 2, Article I of the in the best interests of the City following terms, procedure and , BE IT1RESOLVED that the City Council hereinafter and there /is no present or AND ORDERS: - Description. The City- cribed is surplus property, ive need for same: The north 350.00 feet ofl Se tion S, Township 6 South, L s Bolsas, City of Huntington ate of California, as per ma] age 14 of Miscellaneous Maps, ecorder of said County; the west 340.00 feet of 3nge 10 West, in the Rancho Beach, County of Orange, recorded in Book 51, n the Office of the County SUBJECT TO: Easements for Vtreet and highway purposes over the northerly 50 feet and t7#e westerly 60 feet; EXCEPTING AND RESERVING fro said grant of real property, all right, title and interest in ny and all waters, either appurtenant or non - appurtenant to aid real property, and which at any time have flowed or m y in the future flow on the surface, or percolate as ground wa ers underlying said real property, including any overlying riparian rights for use on said real property, or in th exercise of any appro- priative, prescriptive, or any othe non - riparian or non - overlying right, by delivery and use at any place or use within the watershed of the Santa Ana River and its tributaries. -1- , Said property is shown on the map dated December 29, 1970, designated Drawing No. M-5140 -5, attached hereto and marked Exhibit "A ". SECTION 2. Zoning. The subject property is presently zoned C -4, Highway Commercial, Hotel /Motel uses, and C -2 Retail, subject to a requirement that a Use Permit be obtained for any use. However, the City of Newport Beach makes no representations, either expressed or implied as to developments which may or may not be permitted on the pro erty. SECTION 3. Topog aphy — Improvements. The subject property is level at stree grade. Approximately 300 feet of curbs, gutters and public alks have been installed. SECTION 4. Siz comprises a net of 1.93 a, east corner of Brookhurst Huntington Beach, Califor; Street is three hundred f Avenue is two hundred and SECTION 5. Sea, hereby Z$324n,0009hOO Friday, and pu bid sh - Location. The subject property res (more or less) of land at the south - Street and Adams Avenue in the City of ia. The net frontage on Brookhur et (300') and the ne age on Adams eighty f 280'). Bids- Deposit. Said property is 'id bids therefor are invited, beginning under the procedure of sealed bidding ainafter set forth. The minimum acceptable Each bid must be on an official Bidders Pr�3osal Form and submit ed to the City of Newport Beach, City Clerk, 3300 Newport Bou yard, Newport Beach, California 92660, by 10:00 a.m., Friday, Apr 1 2, 1971. All bids shall be in a sealed envelope clearly marked "SEALED BID PROPOSAL - BROOKHURST & ADAMS PROPERTY - HUNTINGTON EACH ". Each bid must be unconditional and , without qualificationsi 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 amount bid. This deposit is to guarantee -2- that if the City accepts the sealed bid or an oral bid made at the auction (see. Section 6) by a bidder, said bidder will complete the purchase within sixty (60) days in accordance with the bid that was accepted by the City and the terms of this resolution. If qualified sealed bids of equal amounts are submitted, the one received first by the City Clerk shall be considered the highest of such bids for all purposes. The deposit of the successful bidder shall be applied to the purchase price. Upon acceptance of the successful bid by the City Council, all other deposits shall be returned to the bidders. Failure of the successful bidder to complete the purchase as above required shall result in forfeiture of the deposit to the City. SECTION b. Opening Bids. The sealed bids shall be opened and publicly announced in the Office of the City Clerk at 10:00 a.m., Friday, April 2, 1971. SECTION 7. Public Auction. At the regular City Council meeting of Monday, April 12, 1971, at 7:30 p.m., the City Manager shall announce the amount of the highest sealed bid received and the name of the bidder, and shall then call for oral bids. Only those persons who have submitted a qualified sealed bid accompanied by a cash deposit or check as required may make oral bids. To be considered, the first oral bid must exceed the highest sealed bid by five per cent (5 %). Additional oral bids must be in multiples of $5,000.00 to be acceptable. In conducting the sale, the City Council may waive informalities in bids and may by motion modify the terms of this resolution as deemed necessary to obtain the highest price for the property. Upon receiving the highest bid obtainable from a qualified bidder, the City Manager shall declare the amount of the highest bid and the name of the bidder. The City Council may then determine whether it wishes to accept or reject the high bid, or the Council -3- may continue the sale until its next regular meeting. SECTION 8. Escrow - Terms. The bidder to whom the property is sold must make full payment therefor to the City within thirty (30) days after the City Council approves the sale. Upon acceptance of the highest and best bid by the Newport Beach City Council, the City shall open an escrow with Title Insurance and Trust Company of santa Ana and forthwith deposit into said escrow a properly signed grant deed conveying fee title to the property. A copy of the grant deed the City is to execute and deposit into escrow is attached hereto and designated as Exhibit "B ". On notice from Title Insurance and Trust Company that it is pre- pared to issue at Buyer's expense a CLTA Standard Coverage title insurance policy with liability equal to the full,purchase price showing title vested in the highest bidder, subject only to the exceptions shown in the preliminary title report, the bidder shall deposit into the escrow the difference between the bid award price and his cash or certified check bid deposit. SECTION 9. Real Estate Commissions - Closing Costs. The buyer shall pay for all re d' costs and the cost of real property transfer tax within ixty s.af ter the date the City Council approves the sale. , All bids will be on a NET NET NET basis and the City of Newport Beach assumes no responsibility to pay real estate commissions, recording fees, deed transfer fees, escrow fees or cost of Policy of Title Insurance and these costs should be taken into consideration when submitting bids. SECTION 10. Inability to Convey. If the property cannot legally be sold by the City or the City is unable to convey marketable fee title within a reasonable time after the date of sale, the sale shall be void and deemed mutually cancelled, and QM any price paid or deposit made shall be refunded and no liability of the City shall exist or arise from such cancellation. SECTION 11. No Warranty. No warranty is made or intended by any statement in this resolution or the notice of sale or otherwise with respect to location, size, zone or utility of any property or interest therein which is sold or offered for sale. SECTION 12. Withdrawal from Sale. The City Council reserves the right to reject any and all bids. SECTION 13. Notice of Sale - Publication. The City Clerk shall prepare a notice of sale setting out the address or location, description, zone and approximate size of the property being offered for sale, the date, place and time the bids will be received and opened and the fact that additional information may be obtained from the City Clerk's office. The notice shall be published once in the official newspaper of the City, and copies of the notice and resolution shall be available in the City Clerk's office and mailed by the City Clerk upon request. SECTION 14. Official Bidders Proposal Form. All bids must be submitted on an official Bidders Proposal Form available for purchase in the City Clerk's office for $10.00. Facsimile copies of the official form are not acceptable. ATTEST: City Clerk ADOPTED this 25th day of January, 1971. -5- Mayor THS:mh 1/21/71 I ; NOTICE INVITING BIDS SURPLUS REAL PROPERTY BROOKHURST STREET AND ADAMS AVENUE HUNTINGTON BEACH, CALIFORNIA The City of Newport Beach hereby offers for sale 1.93 acres (more or less) of land at the southeast corner of Brookhurst Street and Adams Avenue in the city of Huntington Beach, California. The net frontage on Brookhurst Street is three hundred feet (300') and the net frontage on Adams Avenue is two hundred and eighty feet (280'). The subject property is presently zoned C -4, Highway Commercial, Hotel/Motel uses, and C -2 Retail, subject to a requirement that a Use Permit be obtained for any use. Unconditional sealed bid proposals will be received until Friday, April 2, 1971, at 10:00 a.m. at which time they will be publicly opened and declared in the Office of the City Clerk, 3300 Newport Boulevard, Newport Beach, California. The minimum acceptable bid price is $324,000 and all bids must be accompanied by a deposit of cash or a certified or cashier's check payable to the City of Newport Beach equal to ten percent (10 %) of the amount bid. The Notice to Bidders and Official Proposal to Purchase forms are available at the Newport Beach City Hall, Office of the City Clerk. PFB:sh 1/28/71 CITY OF NEWPORT BEACH, CALIFORNIA Laura Lagios, City Clerk ? o4 RESOLUTION NO. 7361 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 of Newport Beach has title to the real property hereinafter described; and WHEREAS, it appears that the City has no present or prospective need for said property; and WHEREAS, no qualified public agency has offered to purchase the property at fair market value for park and recreation purposes pursuant to Title 5, Division 2, Article I of the California Government Code; and WHEREAS, it would be in the best interests of the City to sell said property 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- owned real property hereinafter described is surplus property, and there is no present or prospective need for same: The north 350.00 feet of the west 340.00 feet of Section 8, Township 6 South, Range 10 West, in the Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as per map recorded in Book 51, Page 14 of Miscellaneous Maps, in the Office of the County Recorder of said County; SUBJECT TO: Easements for street and highway purposes over the northerly 50 feet and the westerly 60 feet; EXCEPTING AND RESERVING from -said grant of real property, all right, title and interest in any and all waters, either appurtenant or non - appurtenant to said real property, and which at any time have flowed or may in the future flow on the surface, or percolate as ground waters underlying said real property, including any overlying or riparian rights for use on said real property, or in the exercise of any appro- priative, prescriptive, or any other non- riparian or non - overlying right, by delivery and use at any place or use within the watershed of the Santa Ana River and its tributaries. -1- i Al Said property is shown on the map dated.December 29, 1970, designated Drawing No. M- 5140 -5, attached hereto and marked Exhibit "A ". SECTION 2. Zonin . The subject property is presently zoned C -4, Highway Commercial, Hotel /Motel uses, and C -2 Retail, subject to a requirement that a Use Permit be obtained for any use. However, the City of Newport Beach makes no representations, either expressed or implied, as to developments which may or may not be permitted on the property. SECTION 3. Topography - Improvements. The subject property is level at street grade. Approximately 300 feet of curbs, gutters and public walks have been installed. SECTION 4. Size - Location. The subject property comprises a net of 1.93 acres (more or less) of land at the south- east corner of Brookhurst Street and Adams Avenue in the City of Huntington Beach, California. The net frontage on Brookhurst Street is three hundred feet (3001) and the net frontage on Adams Avenue is two hundred and eighty feet (280'). SECTION 5. Sealed Bids - Deposit. Said property is hereby offered for sale and bids therefor are invited, beginning Friday, January 29, 1971, under the procedure of sealed bidding and public auction as hereinafter set forth. The minimum acceptable bid shall be $324,000.00. Each bid must be on an official Bidders Proposal Form and submitted to the City of Newport Beach, City Clerk, 3300 Newport Boulevard, Newport Beach, California 92660, by 10:00 a.m., Friday, April 2, 1971. All bids shall be in a sealed envelope clearly marked: "SEALED BID PROPOSAL - BROOKHURST & ADAMS PROPERTY - HUNTINGTON BEACH ". Each bid must be unconditional and without qualifications, 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 amount bid. This deposit is to guarantee -2- that if the City accepts the sealed bid or an oral bid made at the auction (see 'Section7) by a bidder, said bidder will complete the purchase within thirty (30) days in accordance with the bid that was accepted by the City and the terms of this resolution. If qualified sealed bids of equal amounts are submitted, the one . received first by the City Clerk shall be considered the highest of such bids for all purposes. The deposit of the successful bidder shall be applied to the purchase price. Upon acceptance of the successful bid by the City Council, all other deposits shall be returned to the bidders. Failure of the successful bidder to complete the purchase as above required shall result in forfeiture of the deposit to the City. SECTION 6. Opening Bids. The sealed bids shall be opened and publicly announced in the Office of the City Clerk at 10:00 a.m., Friday, April 2, 1971. SECTION 7. Public Auction. At the regular City Council meeting of Monday, April 12, 1971, at 7:30 p.m., the City Manager shall announce the amount of the highest sealed bid received and the name of the bidder, and shall then call for oral bids. Only those persons who have submitted a qualified sealed bid accompanied by a cash deposit or check as required may make oral bids. To be considered, the first oral bid must exceed the highest sealed bid by five per cent (5 %). Additional oral bids must be in multiples of $5,000.00 to be acceptable. In conducting the sale, the City Council may waive informalities in bids and may by motion modify the terms of this resolution as deemed necessary to obtain the highest price for the property. Upon receiving the highest bid obtainable from a qualified bidder, the City Manager shall declare the amount of the highest bid and the name of the bidder. The City Council may then determine whether it wishes to accept or reject the high bid, or the Council -3- i may continue the sale until its next regular meeting. SECTION 8. Escrow - Terms. The bidder to whom the property is sold must make full payment therefor to the City within thirty (30) days after the City Council approves the sale. Upon acceptance of the highest and best bid by the Newport Beach City Council, the City shall open an escrow with Title Insurance and Trust Company of santa Ana and forthwith deposit into said escrow a properly signed grant deed conveying fee title to the property. A copy of the grant deed the City is to execute and deposit into escrow is attached hereto and designated as Exhibit "B". On notice from Title Insurance and Trust Company that it is pre- pared to issue at Buyer's expense a CLTA Standard Coverage title insurance policy with liability equal to the full purchase price showing title vested in the highest bidder, subject only to the exceptions shown in the preliminary title report, the bidder shall deposit into the escrow the difference between the bid award price and his cash or certified check bid deposit. SECTION 9. Real Estate Commissions - Closing Costs. The buyer shall pay for all recording costs and the cost of real property transfer tax within thirty (K), days after the date the City Council approves the sale. All bids will be on a NET NET NET basis and the City of Newport Beach assumes no responsibility to pay real estate commissions, recording fees, deed transfer fees, escrow fees or cost of Policy of Title Insurance and these costs should be taken into consideration when submitting bids. SECTION 10. Inability to Convey. If the property cannot legally be sold by the City or the City is unable to convey marketable fee title within a reasonable time after the date of sale, the sale shall be void and deemed mutually cancelled, and IM any price paid or deposit made shall be refunded and no liability of the City shall exist or arise from such cancellation. SECTION 11. No Warranty. No warranty is made or intended by any statement in this resolution or the notice of sale or otherwise with respect to location, size, zone or utility of any property or interest therein which is sold or offered for sale. SECTION 12. Withdrawal from Sale. The City Council reserves the right to reject any and all bids. SECTION 13. Notice of Sale - Publication. The City Clerk shall prepare a notice of sale setting out the address or location, description, zone and approximate size of the property being offered for sale, the date, place and time the bids will be received and opened and the fact that additional information may be obtained from the City Clerk's office. The notice shall be published once in the official newspaper of the City, and copies of the notice and resolution shall be available in the City Clerk's office and mailed by the City Clerk upon request. SECTION 14. Official Bidders Proposal Form. All bids must be submitted on an official Bidders Proposal Form available for purchase in the City Clerk's office for $10.00. Facsimile copies of the official form are not acceptable. ADOPTED this 25th day of January, 1971. Mayor ATTEST• City Clerk -5- THS:mh 1/21/71