RES-8854 Acquisition of Certain Real PropertyRESOLUTION NO. 8854
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE FINDING AND DETERMINING
THAT THE PUBLIC INTEREST, CONVENIENCE
AND NECESSITY REQUIRE, AND ORDERING, THE
ACQUISITION FOR PUBLIC PURPOSES OF
CERTAIN REAL PROPERTY FROM BA
PROPERTIES, INC. AND APPROVING THE TERMS
AND CONDITIONS AND AUTHORIZING THE
EXECUTION OF A PURCHASE AND SALE
AGREEMENT AND JOINT ESCROW
INSTRUCTIONS THEREFOR
WHEREAS, the interest in the real property described in the attached Exhibit "A" is
situated within the City of Orange and has been appraised as having a fair market value of
850,000 and the purchase price is in accordance with the appraisal.
WHEREAS, BA Properties, Inc., a Delaware corporation, successor in interest to Bank
of America National Trust and Savings Association ("Seller"), is the owner of said real property,
which is commonly known as 132 North Center Street and 345 East Chapman Avenue, (the
Property") and is willing to sell the Property to the City; and
WHEREAS, the City proposes to acquire the Property pursuant to the terms and
provisions of an Agreement of Purchase and Sale and Joint Escrow Instructions (including a side
letter agreement relative to the removal of certain automated teller machine facilities)
collectively, the "Agreement") in the form presented at this meeting and under the authority
granted to it by California Government Code Section 37350.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Orange
as follows:
1. The public interest, convenience and necessity require, and the Council hereby orders,
the acquisition by the City from the Seller for public purposes of the fee simple estate in and to
the Property subject to easements, covenants, rights and rights-of-way of record for the
sum of 850,000 in cash through escrow in accordance with the terms and provisions of
the Agreement.2. The City Council hereby finds and determines that the terms and provisions
of the Agreement between the City and Seller with respect to the acquisition of the Property in
the form as submitted by the City Manager are approved and that the Mayor is authorized to
execute, and the City Clerk to attest, the Agreement on behalf of
the City.3. The City Manager is hereby authorized and directed to execute on behalf of
the City of Orange all documents necessary and appropriate to carry out and implement
the Agreement and to administer the City's obligations, responsibilities and duties to be
including the acceptance in the name and on behalf of the City of Orange of a grant deed
conveying to this City the above-described interest in the Property or the authority to
terminate the Agreement on or before the expiration of the due diligence period if, in the discretion of
the City Manager, the results of the City's investigation of the condition of the Property do
not support the purchase price of the Property or its feasibility or value for current or future uses,
or the: results of such investigation are not otherwise satisfactory to
him.4. In the event the City Manager exercises his authority to terminate the
Agreement pursuant to the foregoing paragraph, the City Manager is then authorized and directed
to negotiate with the Seller for the acquisition of the Property for a price that reflects the fair
market value thereof in light of the cost to cure the conditions identified by the results of the City'
s investigation of the
Property.ADOPTED this 9th day of December,
1997.
ATTEST:C~~A'U/kt(J#-
t'~City Clerk of the (Jiy of
Orange I hereby certify that the foregoing Resolution was duly and regularly adopted by the
City Council of the City of Orange at a regular meeting thereof held on the 9th th of
Decembet;1997, by the following
vote:AYES: COUNCIL MEMBERS: Murphy I Slater I Coontz I spurgeon I
Alvarez NOES: COUNCIL MEMBERS:
None ABSENT: COUNCIL MEMBERS:
None ABSTAIN: COUMCIL MEMBERS:
None Reso No. 8854 2-TJR:
1<XHTRTT A
T.R~II.T. n1<!':rIHPTTON OF PROPRRTV
LOTS 14, 15, 16 AND 18 IN BLOCK A OF THE LIBRARY TRACT, IN THE
CITY OF ORANGE, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP
RECORDED IN BOOK 5 PAGE 21 OF MISCELLANEOUS MAPS, IN THE OFFICE
OF THE COUNTY RECORDER OF SAID COUNTY.
EXCEPTING FROM SAID LOTS 17 AND 18 THE SOUTH 7 FEET TOGETHER WITH
A 10 FOOT BY 10 FOOT TRIANGULAR AREA WITH THE INTERSECTION OF THE
NORTH LINE OF SAID 7 FOOT PARCEL AND THE EAST LINE OF SAID LOT
17, CONVEYED TO THE CITY OF ORANGE BY DEED RECORDED APRIL 17,
1962 IN BOOK 6077 PAGE 882, OFFICIAL RECORDS.
Resolution No. 8854
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