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RES-10496 Escrow Execution AuthorizationRESOLUTION NO. 10496 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORANGE FINDING AND DETERMINING THAT THE PUBLIC INTEREST, CONVENIENCE AND NECESSITY REQUIRE THE ACQUISITION FOR PUBLIC PURPOSES OF PROPERTY LOCATED AT THE SOUTHWEST CORNER OF TUSTIN STREET AND MEATS AVENUE ORANGE VILLA SHOPPING CENTER I) AND AUTHORIZING THE EXECUTION OF ESCROW INSTRUCTIONS THEREFORE. WHEREAS, the City of Orange (the City) is a municipal corporation which exercises governmental functions and powers and is organized and existing under the laws of the State of California; and WHEREAS, Section 37350 of the Government Code of the State of California authorizes a city to purchase, lease, receive, hold, and enjoy real and personal property, and control and dispose of it for the common benefit; and WHEREAS, Orange Villa Shopping Center, a Limited Liability Company, as its interests appear of record (Seller), is the current owner of that certain real property located in the City of Orange, County of Orange, State of California, and legally described and shown on the maps attached as Exhibits "A, B, C, D" to the City of Orange's offer letter which is attached hereto as Attachment 1 and incorporated herein by this reference (the Offer Letter); and WHEREAS, Seller desires to sell and the City desires to purchase the Property in accordance with the terms and provisions of the Offer Letter; and WHEREAS, the City Council has duly considered all of the terms and conditions of the Offer Letter, in the form presented, together with any testimony received by the City Council, and believes that the acquisition of the Property from Seller is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the public purposes and provisions of applicable State and local law requirements. NOW, THEREFORE, the City Council of the City of Orange resolves, on the basis of the facts set forth in the agenda report and any testimony received as follows: 1. The foregoing recitals are true and correct. 2. The public interest, convenience and necessity require, and the City Council hereby orders, the acquisition by the City from Seller for public purposes of the fee simpleestateintheProperty, subject to easements, covenants, rights and rights-of--way of record, for the sum of One Hundred Thirty-Two Thousand Thirty Dollars ($132,030) and related escrow costs, through escrow in accordance with the terms and provisions of the Offer Letter.3. The City Council finds and determines that the terms and provisions of the Offer Letter between the City and Seller with respect to the acquisition of the Property are approved and that the Mayor is authorized to execute all escrow andrelateddocumentstoeffectuatethesaleonbehalf of the City.ADOPTED this 13`h day of July, 2010 yn V. ~awecc~e, Mayor, City~ of Orange ATTEST:Mary E. City Clerk, i y range I, MARY E. MURPHY, City Clerk of the City of Orange, California, do hereby certify that the foregoing Resolution was duly and regularly ado~ted by theCityCounciloftheCityofOrangeataregularmeetingthereofheldonthe13` day of July, 2010, by the following vote:AYES: COUNCIL MEMBERS: Murphy, Cavecche, Dumitru, Bilodeau NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: Smith ABSTAIN: COUNCIL MEMBERS: None Mary Eu - Iy, City Clerk, Ci of