HomeMy WebLinkAboutCC Reso No 1949-563
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and 'VIrE;}U~l\S" the said". 'D. Pa tterson, is desirOl:s oC obtainln,-, tin
Option until the 25th da~r of June, 1;)h9,. to pur'chase tb,e property
first above described, t'lUcr as (:onsid~)ra tion, for the said Option,
has nald tho (;1 ty of ri;1sinore, the 3t1.rrJ. 01'
Efundred and 'ren
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Dollars,
for th(;i} hold~ng by the said Gi ty of'L~lsirwre.
,
the Yfa:ror Ell1d 01 ty Clerk 0 f th,e said (;i ty
of.15inore are hereby authorized and direoted to execute an
Option to purch,ase the aforesaid property to tho said ;:.. D. Pat-
e1"'801'1, and deliver the same to
n. Patter>son, Il'Y; !rlL,UHDt~H-
8]'.0u11)1 G the. t if the holder of this Opti on shall cl'ul:;{ 13183 t to
exercise this Option, then, and in that 6'l1er1t, tlle amount paid
as considerat:ion t'or this tioflshall be credi ted upon the said
purchase price. but if' the holder of this Option shall fail duly
to exercise ttds Option wi thi.n the time prescribed thoroforo, then,
and in, that event, tho atl1<.)l:mt paid as consideration for this
Option, shall bo rete,ined by UIO said City of L:;lsirl.ore 1n full
sa tisfae ti on for Lrnnt
this Option and for holdi
the afore-
said nroD':orty for the afore8f.:dd thne.
And!. upo:n th(~ further unders tandi that the s~1icl i.;... D.
Patterson, s.hall designate his acoeptance of s Option by his
presentation of his aI'chi tectural plans W1d blue-prints to the
said \/ity of Llsinore thirty DO) days or more ':>efore the ex-
piration of the tim,a stated in this Option, and shall obtain rlis
Building Perini t fl~on:l the said Cit,y of'
slnore, fifteen (lS) days
or rnore before the expiration of the s aid Option.
And provided further that bofa!'e the expiration of the
said option, the said
D. Patterson sflall eommonef3 construction
or, and thereafter continue construction of the said theatre and
improvements to completion.
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():PfI'ICJ,N 'r() F'(Jr~CfIl1SE T:F~l\r.i
p ;,'ry .
JiHE.REAS, the said Oi t;y of Elsinore 1s the owner of the follow-
tng d.escrlt)ed I'eel property eltua ted in the ssid Ci ty of ElslnoI'6 ~
County of Hi versitie, state of Cal1fox'nla, !md more
rtlculaJ:>l;y
described as follows, to-wit:
rtz,oo ft. along the fi(}rthel'ly line of Block 16
S110 Warm Springs Park.. ly1ng between TJangotarr
St. and Riley St. projecting southerly 150 ft.
and more particularly desert bed as faIlot'ls:
Beginning at the point of the f<lV4 corner of Block 16,
0);>1g1081 townsite 01' the City of Elsinore, County
of Hiverside, State of California, as shown in Map,
Book 6, Page 302 thereof, Ssn Diego County Hecard,
THE1';;CE 8'71 degrees 30t 30" E 500 feet, 'fHENCg:S 18
degrees 29t30~. W 150 feet, 'l'FIENCE: N 71 degrees 30t30"
W 500 feet to the eaaterly line of Langstaff St.,
THENOE . 18 degrees 29' 30" B alon~ said easterly I1ne
of L~ngstafr St. 150 feet to the point of beginning.
Containing Lots 2' Bnd ;3 and. 8 portion of r,ot 1 of
saldBlock 16 together with a portion of 't'iurm Springs
Park lyi.ng easterly thereof. fl
and \ilHEFiEAS, the C1.ty of Lnsinore has no further need of the same
for any Municipal purpose; and
NHEFiEAS, the 01 ty of .i!:lsinOI'e has been offered the stt.-n of
Four Thousand ($4,000.00) Dollars by E. D. Ptitterson, for the
said property, and 1n the opinion of the Council the said sum is a
tall' price for the same, and it would be fo!~ the benefit of t.he
C1 ty of in slnore tti& t 'the 3a id. property be sold for said sum; and
FLEAS, the said E. D. Patter:'lOn is desirous ot' Im.p:::'oving
the following p~)l'.tlon of' the said property by the t1reeti on and
construction of a theatre bul1dlng, to-w:tt:
Beginnlnge t the point of the l~rf corner of Block 16
ot'lg1nal townsite of the 01 ty of Elsinore, as sh(nm
in l~tip Book 8, P.$lge 502 thereof ~ San DiegO' County
Hecord, il.'l'IENCE: S 71 degrees 30' 30'$E 150 feet,
THENCE: S 18 degree. 29' SO" Vi It'O feet, r"T1EfWE:
N 71 degrees 30' 3011 W 150 feet to the Easterly line
01' '[,tmgstatff St.,i liENeE: N 18 degrees 29' 30n E
along said easterly line of Ltmgst.hlff st. 150 feet
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:first above described, and as consideration .1'01" the said Option,
M$ paid the CltyofEleinore, the sum of' F':lve Hundl"'ed and Ten
(~510.00) Do1181'$, for the }lold1ng by the said City of Elsinore,
~nd
NIIEHEAS, the City Council of the City of .Eloinore did on the
25th day 01' Apr'il, 1949, passed and adopted a Hesolution ant1 tIed
IlHesolution No. 563'1 , f.:tuthoriz1ng and Clirecting the f.J.!syor and Cltj'
Clerk of the sald City of Elalnoreto execute Son option to pur-
chase the aforesaid pI'OiJerty to t.1'1e said E. D. Patterson and de-
liven" the ssme to !~. D. Patterson,ftrrH
UNDEnS'l'ANDING that if
the holder of thIs Option she.ll duly elect to exerc sa this Op-
tjon, then, and 1n that event, the amount p81d as consideration
for this Option shall besredlted upon the said purchase px'ioe,
but if the holder of this option S11,611 f I1l1 duly to exero Be this
Option within the thlle pr'ese.ihea ti'.\:erefoI'e, then, end in that
eVEmt, the amount paid as oonsideratlon :.for this option, shall be
r"et~lned by the said Cit'Jr of.' ElsirlOt'G in full sn ti sf'sction for
grant;il::lg this Option end for holding the aforesaid property for
the efOreSf!ll.d tlme.
Atld upon the further understanding that the said E. D.
Pettet'son, shall deslgtlnte his acoeptance of this OptiOI) by bis
pr'esente tlon of hi~ archi tectut'l!ll plans and hl ue-prfmts to the
fH~id City of 1:\;1s1001'o thirty (30) days or more before the expira-
tion of the ti:;;e stated 1n this option, and shall obtlilin hla
l~uildlng PeI'ln.lt fx'om the said City of' Elainorf), fifteen (15) days
or more before the $xpi:r'a tioD of the sald Option.
.And pr'ovided further that be.forethe expiration of the said
option, the said E. D. Patterson shall commenco construotion of,
and thel'-enttE)I' continue construotion of the S2 id thEUl.tre snd im-
1 101'1 of seld theatre, the title to the portion of the said rGal
2 propert,y second hereina.bove d.escribed shall be conveyed to second
party, or h1s assigns, f'ree and clear 01' $11 encum.brsnces, and s.
policy of title lnsuraDce lSBued by a responsible title company
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shf,-11 be delivered to said IiUrehaser.
In cona:tdera t10n of the fLf.'ol'ElHHdd payrn.ent and cove013rrta J
when ~md if the said E. D. PRtterson hRB fulfilled the tuune, and
f.or the ;furthel" consideration trwt t.he sfdd E. D. Pinteracm shall
substiJotlkll1y hnprove the :remalnde1'" of the property first above
described,;! th stL'uctures or lri1pr'ovements eonformi.ng to the build.-
lng code along the Graham Avenue line thEilr>$of, within three years
from Qt;lt.e hereof, tl.1e City shall by good ~md suffioient deed, lind
',,..ithout the payment of.' any' further coosiderat..lon, conv'ey to the
said f!:. D. Patterson, or his assip;ne, the remainder of the propert
firs.t a.bove described, free and olear of all enculUbrtHlCes, and
sllfjl1 delIver to said purchaser a poJ.~,cy of.'tltle insursDce issued I
by a responsible title oompany.
Hl~, the sald E. D. !)~atterson Is hereby granted
un Option to pur'chase the al'ol'esillid p:t"'oI,erty under the terms as
atated in this OptIon.
DA : April 26, 1949.
IN Ofu....,
AYrf;S~ .
at ty Cl~r;.~ mainore-.
Cfiilifornia.
BEST.. Cit,y Ii ttcn"of:ry,
BY:
.
Arthur Jr..Ge31mf.in, Da:;::JUty: