Loading...
HomeMy WebLinkAboutReso 1976-8018r r Form No. 342 Rev. 3/'74 RESOLUTION N0, 8018 RESOLUTION OF THE CIT3' COUNCIL OF THE CITY OF CHULA VISTA, APPROVING AGREEMENT BETWEEN 'THE CITY OF CHULA VISTA AND HARBOR MANAGEMENT CORPORATION FOR OPTION PURPOSES FOR THIRD AVENUE AND H STREET PROPERTIES AND AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT The City Council of the City of Chula Vista does hereby resolve as follows: NOW, THEREFORE, BE IT RESOLVED that that certain agreement between THE CITY OF CHULA VISTA, a municipal corporation, and HARBOR MANAGEMENT CORPORATION, for option purposes for Third Avenue and H Street properties dated the 6th day of January ~ lg 76 ~ a copy of which is attached hereto and incorporated herein, the same as though fully set forth herein be, and the same is hereby approved BE IT FURTHER RESOLVED that the sum of $60,000.00 be appropriated from the unappropriated surplus of the Revenue Sharing Funds for the purpose hereinabove set forth. BE IT FURTHER RESOLVED that the Mayor of the City of Chula Vista be, and he is hereby authorized and directed to execute said agreement for and on behalf of the City of Chula Vista, Presented by George D. Lindberg, City Attorney Approved as to form by ._ ,. ~= - _ _ _,~ George D. Lindberg, City Att rney ADOPTrD AND APPROVED by the CITY COUNCIL of the CITY OF CF:'ULA VISTA, CALIFORNIA, this 13thday of January_ 19'76 by the followinc, ~o te, to-wit: - AYES: Councilmen Egdahl, Scott, Hobel, Hyde NAYES: Councilmen None ABSENT: Councilmen None ABSTAINED: Mayor Hamilton ~`~p~4'Q~f~'•/~t'• ~2 rd y O r'~ayor of the City of Chula Vista ATTES City Jerk STATE OF CALIFORNIA) COUNTY OF SAN DIEGO) ss. CITY OF CHULA VISTA) I~ City Clerk of the City of Chula Vista, California, DO FEREBY CERTIFY that the above is a tu11, true and correct cony of Resolution No. and that the same has not been amended or repealed. DATED City Clerk ., • s OPTION AGREEMENT This Agreement is entered into this 6th day of January, 1976, at Chula Vista, California, by HARBOR MANAGEMENT CORPORATION, a California Corporation (herein- after Optionor), and the CITY OF CHULA VISTA, California (hereinafter Optionee). 1. Optionor, Harbor Management Corporation, hereby warrants that the real property located in the City of Chula Vista, California, whose legal description is set forth in Exhibit "P.", attached hereto and incorporated by reference herein, is held in fee by Optionor and Optionor can deliver a good and valid title to said property. 2. On June 4, 1975, the CITY OI' CHULA VISTA enacted Resolution No. 7768 authorizing commencement of condemnation proceedings to acquire the property of Optionor. 3. Optionor enters into this Option Agreement under threat of condemnation of its property by the CITY OF CHULA VISTA as set forth in Resolution No. 7768. The parties acknowledge that this Option Agreement and the sale of the property pursuant to this Option Agreement, if the Option herein granted is exercised by the Optionee, are made under the threat of, and solely by reason of, the power of eminent domain possessed by the Optionee herein. AGREEMENT rdOW, THEREFORE, Optionor and Optionee agree as follows: 1. Grant of Option. Optionor hereby grants to Optionee the exclusive right to purchase the property at a price and under the terms and conditions set forth in Exhibit "B". ~~o~P , 1 ~ i ~~ Opt10n PP_~_LOd. 1h1S ~L~t10?1 _hall COTi_'1Pll°'Unt11 5:00 p.m_ , 1~larc.Z 31. ~' ~~ t l~ / 6 . 3 . Ont~.on Cons ~ d~~ration. This, Cry'. ian is granted i_n_ cc~sid~~ratian o~ Opt~onee' ~ pa, ,,~n~. to Optio~zor tn,o ~- O _ ,~ ilii? of $30,000, c~rhich sum shall b` due and payable upon execu- lion of this Agreement. Thereafter, the consideration shall be $15,000 per month with the first monthly paymer_t due and payable on February lst,1976, and at monthly intervals thereafter. ~. Application of Consideration to Purchase Price. If this Option or any extension thereof is exercised in accordance Evith its terms, then the consideration paid Optionor by Optionee shall apply to the purchase price. 5. Retention of Consideration. In the event this 'Option or any extension thereof is not exercised, all sums paid to Optionor by Optionee shall be retained by Optionor in consideration of the granting of this Option. . o. Exercise of Option. Optionor and Optionee shall ex_cute the Escro:v Instructions set forth in Exhibit "B" co^currently c,~ith the execution of this Agreement. Optionee sha'_1 exercise this Option by depositing the executed Eserow Instructions with the Escrow Department, Title Insurance and . Trust Company, 220 "A" Street, San Diego, California 92101, at or be:~ore the close of business on ~~larch 31, 1976, and giving Optionee written notice thereof at the places and in the manner set forth in paracrraph 9 below. 7. Automatic Termination. If Optionee fails to exerczse this Option in accordance Gliti7 its terms and within the option period or any extension thereof, then this Option and the rights of -the Optionee shall autoT~atically and -2- ~~~ /~ f i 1 immediately terminate without notice. ~ 1 ~ 1 Thereafter, Optionee agrees that it will properly execute, acknowledge, and deliver to Optionor within five (5) days of request there- for, a release, quitclaim deed, or any other document required by Optionor or a title insurance company to verify the termination of this Option. Agreement. 8. Assignability of Option. Optionee may not assign this Agreement except with the prior written consent of the Optionor. In the event an attempted assignment is made in violation of this provision, then, at Optionor's discretion, Optionee's rights under this Agreement shall terminate, provided, however, Optionee may at any time assign all or a portion of the interest in this Option to the County of San Diego, or a Public Building Authority created by a joint powers agreement between Optionee and the County of San Diego or the City of Chula Vista Redevelopment Agency. 9. Notices. Unless otherwise provided herein, any notice, tender, or delivery to be given hereunder by either party to the other may be effected by personal delivery in writing or by registered or certified mail, postage prepaid, return receipt requested, and shall be deemed communicated as of mailing. Mailed notices shall be addressed as set forth below, but each party may change its address by written notice in accordance with this paragraph. TO OPTIONOR: HARBOR MANAGEMENT CORPORATION 8383 Center Drive La i~iesa, California 92041 TO OPTIONEE: Office of the City Attorney City of Chula Vista, California 27G Fourth Avenue Chula Vista, California 92010 10. Entire Agreement. This instrument contains the entire Agreement between the parties relating to the Option herein granted. Any oral representations or modifications concern- ing this instrument shall be of no force and effect excepting a subsequent modification in writing, signed by the party to be charged. ~ Sao /~' -3- 11. Attorney's Fees. In the event of any controversy, claim, or dispute between the parties hereto, arising out of or relating to this Agreement or the breach thereof, the prevailing party in any legal action shall be entitled to recover from the losing party reasonable expenses, attorney's fees, and costs. 12. Binding Effect. This Agreement shall bind and inure to the benefit of the respective successors and assigns of the parties hereto except as hereinabove expressly provided. 13. Memorandum of Agreement. Upon execution of this Agreement, the parties shall execute concurrently herewith the Memorandum of Option Agreement attached hereto as Exhibit "C" (incorporated by reference herein), and shall record the Memorandum with the County Recorder, San Diego County, California. IN WITNESS WHEREOF, the parties hereto have executed this Option Agreement the day and year first above written. OPTIONOR: HARBOR MANAGEMENT CORPORATION--., A California Corporation \, "i ~/ B_ __.__alne olak Secretary-Treasurer OPTIONEE: CITY OF CHULA VISTA _~ .. -`~~ 1, .. ~. _ ` Thomas D. Hamilton ~ Mayor -4- ~~d /8 'L TNC. LANE) R-F CRP,I:U Tli In T}•s15 ^L~lCC1' I~ StT-~ATt"(.+ 1?~ Tt-~F STATE-. ()F Cl~[.II'C1i2'~IA~ Ci~lstiTY LSF s:~~' Ui+:Gt), Ar;U IS GCSC:Rtf3El) n; ~Ult_+;t~;5s ti• l PARCEL is ~~ il1~,T PQR•fIr~>4 OF Ti+f WLSTt~(,Y 3;a FC~CT OF ,.OJT l~ CE~ C..J. F311tt'cn°S SE1EsU 11' I S I UN CF UtJAR T Ft: $ FC T T ()!~ l3Es {?~ 1:A~~Cf+Ci f~C L Q ~aAC I +J?dt E E~ Tt-!E" C t TY ()E" CHI.-E.A ~ISrAc IF! TttF C(iUh~T!' CAF SAfv pIFG~?• STA'tF' Ot- C~~ItF(~;t~dEav ,'~~:CE?rtE)IkdG T(l t4AU T.'.E~2FE1E' N(). jtt> E=ILFr) I~ THE OFFICE l)F Gt:r.tMTY Rf:GC`RDER OF Sh~v hi[:~~C! C7-1'`ITre• f=F E'.rtVARY ?.~, lEsA7~ t~'ING Nt~1Rt-~C(~[,Y [~F' THE FC~LLC?:~It~iG OFsCittii0 LI^~r:s GC:GI"4'~I'aG AT T~!C Sf~t~T+-'4~'ESTt"kl.Y COEttd(~R CIF S~iIU EOT IF,; Ttttt~GC' tdC1RTN 1g° NEST ALGNG TEi4' ~E51 Ef?LY L I'~lr ^F S.~Ta Lf3T. A Dl STAhGE OF lOt? FF~T i'U TFEE" TRllt E'Gtf~'T OF REGtfti~tt'1G; Tr+~=r~C,[= 1~Of~TH 7I~U7~ F1r51 TCi TWE EASTEE2?~.Y Ltt~E UE' SAID 4-lESTEEtt_Y ~5~, BEET. fX1rLt'T TlEEREI'RCI~t TkC ~it;f?Tt~EPE,Y IC)C~ FEET OF THk EASTF4tt.Y 47 t=F~T T3-IEREi~{=o i~t:RGI't_ ~: - ~ TNC rlaSt[:RLY ZzS F'E.ET C)F E.i;T 2b I~+ T(-tE 5UBDIVjSTU~t nF {)U~tiRT'E;IZ SECTIO~t 13~ U1" tt1aP~lC1{'~ {~~ LA '~+~iCkt:)Ne i*) THE GfTY C: f' CNULA 1~ISTA¢ tit Tftr Gt7U~tfY C1 F' 4,f~t`t pti:Gl)e SfAtE f}( GhLIFC}E~tvlAp ACC(shtnj~tG TO E-<.AP t`}~ERC:OE (30e IA`i F'jj,.C'C~ j~1 li-tE CFCtGE: QE Ct~t.E-aTY tiEGtlE'~fj4t~ nr SAN i3IFu0 COUf3TY f=FE3RUAF.Y 2~o I.S~?°o EXGF_E?Y" Tt-ECRf:E'Ri;~ TM~ SOUTHERLY 50 EE ET (~F THE CA>T[=t~LY 135 rCCi Thfi~Rf:C€~. ALSt~ FXGCPT THtR!"t~t;U°~ T;-E f: 'itiRTt(ERLY 34 FEET TE~EQFiZF. ptiEtC['l. 3i L()T ~~~ iN T1iF SUEli`lt~i`jC~1 ('F UItARTf:R 0¢ SECTIOFt ~3F: C-E ItRt~'CE-t(1 t)1: E.A 1Vl~ClftitdE 14 ThF Cii"1' (, f' C+~t11.P~ ~'ISTAo i,d TfiC CtltJtr7Y OF 5~1'~f DIFGUe STiiTf' U~ CALIf'(''tlhdlst ACCn:~U1~~G TJ SAP TEtC~FUf ~:C~. [~`' FILFU Irti Tt•aE rtFFiCr C)~ Gt1lJt~tiY RECt7R(~rf< f.'F SA'~ E11EGC3 CI;UI`~TYe f'E£zEil'AI~Y 23o jE3~7'. fXGCi~T 1NFt;EFs2{;Ite THE CASrEE:LY ,225 FEf.T TFtF~RCCIF. ALSti f=XCE%'T it~Cfi~'Ff<0^`• Ttt[: N(1kTFti RlY ~D f CET THCKFUF. AI.Ct•) ::Xl•r.7T TI-!E~'~FRf.+M T~tc kiFST+r(;j.Y iU F'EC-.i' TiiFIZC[1Fe I?IIIIBTT "A" TO Ol'TIOIQ AGI2EEM);NT ~'o /~ i ~ARG El. 5: T}iAT PORTIUN liF LOT 3I OF THC St)F~?IVISI(1}~ (?:~^,tl~AFiTER gECTIQN I38 t?F T}iE RA!vCt-{f) OF LQ NACItl~d f~A;)E RY J. 5. k1Ai+27, I~ THE (:ITY ~E CNULQ VISTd, IAi TilE C{~t.-r~Tv r)F SAN DI EGC~, $TATi- t)F GALIFCIR~tId, ACCC)Kt?ING TO f;AP ThEREOF 'VU. }E+S FILEO I'r' TNi_ C'Ff'ICF QF CGUMFY RECGRGER t,tE SAP: OIEGC Cf)U~iTN GESCRIFsCb AS Fi~1.Li)w~: 6Efi,i~tNINC~ ,'lT THE idtlt?THEASTERIY CC3R~c12 nF THE t~ESTFRLY t54.Q0 FEET C-F SAID Zt1T 'sI • Tl~F~Vf;c AL(J~iG TNk t~l~ STF.2LY L I'VE T}±EREOF~ St;t1Tf-~ I4°t2a•(inp E"tiST 2?d.OC` FEET TO T}ii- t~C~RT~iFi<LY t_IrdF (3E aI" STitEF.T, FCiRF'FRGV FIRST STRFEt, AS- SHi}Nt~ q~t SAIt1 MA+~ NC. I?7; ZNFh(,F r,riRTH ~I°00°0(S" EAST dLCI~tG SAID NGRTHERt_Y LIME TQ A pOItiT t;-~ Tf~-= CA5TFkLY LIi~E Ui- T}tE ~CSTEkLY 23Q.00 FEET GF SAIC~ l~)T, TNf'*!Cf AL~:1~vG SAIC7 EASTERLY LI'dt: • t~C1RTH IQ°Or)'C)p~' NEST I5d.00 FELT : ~~-iEFdCr: "3t'RTH 7 i°dQ'00~ EAST SG.t?C` FEET Tf) T}lE EASTERLY L I~.E tF THE 1~CS~TErLY ?e0.br- FEET t~iF SaIQ l~~T; Tial.ryCC ALC.riG SAID EAST*_-'RLY !-IrjE, SOUTN 1~°C}0'r-U" cAST I5t).00 Ff=c[ TC T;-iE '~iG4tTNf~IY LINE. OF Sali~ "I" STREET; THF'vCi= ttLilNG SAID NtIFTHr'RLY LIME:, NU6tTH 7I°UQ°UQ" EAST' [~ 1't-iE EA,TFRt.Y Li~tF tit" Ttit NESTERLY 31~3.fi{1 FEET CIr SAID IOT; [HE!'!(;E ALC-h~v SAYD EASTERLY IIr,E' WfrRTN IQ°t3C~'riC~•' VtEST 15(?.dr~ zCET.; ThF'vC.F ~di)RT;-f 7I°00't~t)~ EAST €35.t){I FEFI; TNEflCF' S(~L'TN 1'1°OQ'C)t)°/ CAST 190.0? s'i-EF TO A i'C$NT 0~ TtiE GE,dfFi? LIs~F OF SAiis ~;" ST~tt-FT; f}+ca1CC ALOraG SAiO CE-aTrR. j,Ii~E'• ht;:tfH 71°Ot3'Od~ EAST 60.0!1 FFF't Tc7 A PDI^iT DISTANT T}iER:G~t• SQUT}! 71AUfl•~pa- 4,~rST 2(?5.Od FEt.T FilC~t~ TNF $rvTEUEGTIQr~ (F :Ai~~ CFNTc.R LIsaE NI Ti-t TFaE C£raTER t IhE t3fi 3nU AyE~~U~, TF1E"siCC :'A~iAf.Lt't_ +~ITH ,THE b~fSTi"RLY LIrdE QF SAIO 3RJ ltVEtvU£ Mt3FTN 1~°Od°t~t~*' ~+t=ST 33d.t10 FEET TU THE lai~RTNERLY LIME E'F SAIn t£~T 31: Tt?EsoCc ALttt1G Said -~t;RTHERL'f l$~tE, SC1UTt-s 7I°Ot?'0(1" Ni=St' 34~.t10 FEET TO THE v[? I ~T C'>r P FG I H°~ I MG. PARCt:L hs THE *IORTNFiZLY 9U FEfT ~•F Tr!F EASTC.cLY lb 3.le~ FEET (?F LGT Z3 GF S.J. ~AiRD*S Stf3D[uISit1^l C:F i;,(iA~tTER SE CTIQh 139 t;F fin-~C~tO i1F LA raACIt;~a. I?4 T-sE CITY C,l= Cttt1LA V I `: Tls, {~; Tr.(: rr;UiTY CF SAN ~~1 EGt~, STATE OF GAL I F()RMI A, .9CCC~ryi~INC> [i1 taAP TNERi-~~i` F1t~. Ids FILtp fr'~ Tl~C OFf ICf aF C}3t1~iTY REt;(.;RpE{t 0i= S,~t2 tit rGC, f.uC!'VTY. PfiRCi; L 1't ~~oi~ ~ 1 THAT att:;Tl~,~d f!!- L+'i'; I,; 1:.~:.) ;-i r.c :.. J. f', .. (c;tt•` ''+t;~0IV1~l~~W .,C :~,.1h~1Fa. .,ECTI~+rt 13., "`F (tA`dCr~r• ~~t: I A wr.t~:rt4 I^~ rrif_ +,rT~ "~+. c,ht,+l~i ul ~fA. I'~ itjE Cf)r)idTY (1F iAr; UIGG• Sfr1fF (if" t;AI IF(!R"dIA• ,_(;CC1G~7fj+IG Tf+ h{AC' TF1t:Ri~OF N(]. ltt5' ~'ILE:C+ I'v Tttt: OFFICE" C)F Cf`!)r~~dTY+;fCt?RI'FR ttf' `.;dP4 f+IF~"J Cr?i+NTY• GfSCRIi3EU AS Ft~ L l Cl t~15 BFGINNIN~ 4~T Tttr WFSTEf.LY CCi.,i~r~r CCiR+~Ei( C)f NATO LrrS 1P 1sNf) ?.3s TrEr~rF ~ S('ItTN 13° BAST Al.[tKG TNT t~FSfE=KLY LINO ~1F SAIr'! 1_r1T 23 A !; F;•~I TE? TNT S('~;+THWE"Tf'~l1' r;()Rr:ER rr~F 5.4 J [.Ct' ?~~ o ISTAtvCt'A+~F•~~2 [ T ~, t~ N C E 'v O;V i' 1; 71 D 7 F4ST AI.+.;NC Ttif: SI:(~Tt:CuLY ltr.~ Gf Sr+dq Lc:T Z~4 a JiSTAr~,~ t"1F ~rjU F~'FT; "~ TttCNCr• ~V!.'."ZT-i 1~O w~!,i' A Uf ST,r.NC~ Qf 13~' rCrT. ,r[t~~ f!2 { T--:r, raf'i2i'yFRIY 1I!'~E OF T~-~~ ~ ~ -, < LCS;• TU A PUINT i!P~ _~Cil1THFt?Lr t/, t, f• ,..1I„ !f)T ??: T+~r:RCf: rVQR1N l lI°C'7• fP~ST ALfir9G SAff- 'vf.`RTt•1fF.LY 1I`~iF t~F SA(r~ SCtIITI{t~REY 2/5 A f~ISTANCE i)f= I~ 42f1 FEf T T~ A PGI~ET ()N TI-1F EAST"=kLY 1.If:F ^F SAIL} lC1T 23: THf:PtC,+. hE;"TTN jqo '; ~'F'Ci1• A UI5tAr+C€ nF Ion F,`'rT T!J TE~!tr ~1i)vfNFASTFri.LY C'C1RNE'!t C1F SAID 1.i}T ?.3; 'I Tfri:NCE ~fl!.tTN 71°O7• i~EST AI_~JP-:r TIdE i~jf1RTNEitLY 11A.F [~F SAdi? 1.~:1T ~3 A t?I57A~1C,: t)F ?63.IR Fft=T; Tr~~!~CE '~C-RT>J qo • 'I 1 wFST4 A DISTAdVri. +)F IC~C F'EfT: Tir~r~cc s~+l.+T~~ 71'Q7• ~t~Sr~ ~ salsTnnrc~: f?F ~s~ F~Er TC) ~ ~Cjtr~T nP~ rw~ k"ESTf:RLY LIj't~ ('F S11jU Ll?T It;; ffaCFJCc""- 1[1liT(1 !a~' BAST AILS+dG THE ~tE=STE2LY LIKE CIF S.~It? LUT 1~4 A r~1STa*(Cr QF 100 FFt:T TC1 THE VUItuT r3F ~ f ,. t, 6FGI ti<w Nr EXCEPT Tt:F'R?'F?r7M TNt: htCi~±TwE~(.Y y~ F'G't~j' pF Tt~F C4~,TEE?LY 1~.~.lis rF_frT Tf~E~Fr,~. Ai.S',I FXCi'PT THt;RFf~;,C}p THE SC~i~Tt~fR1Y i? fFET l";~ T~t~ 1~FSTE.ZLY ZRO F€°FT THFtzF, C3i~. - PAR;,EL 8! T~f. "1!~RTNt:Rt.Y ~ I!vC~t'S OF LGT 2~~ Iii ThE SUEt~IVIS[}N ©l= r3UbRTfR 5FCTIGty 13R C?f I•' !IrlC;a;~+ Ur l.A ~tAC t f't`3• I r~ Tt[t; CITY OF Cr~ULA ~' I S TA • I N TNF G(;iTtvTV OF SRRi nt€:~,r.,4 STai-E ITF CALit'(?Rf~Ia. t+CC+~~n~~t~vc: TCs MAN T~-+F~COF~ rv[. ~r3,, FILi'tS ik TI~f- C'"i=iCr` QF C(fi.sNTY RcC(?Ct[.1t~R {~r Said Uj(~(;,t; C1:UR'T1'4 PARCH d3• i88R. PARCf~1 ys Tf`IZ t•.ASTE`tLY X93 F~:ET i~F TrrF WtSTf_'2LY k4S FfiEf uF' THE SU1Jtr-IEFLY 2/STt`r5 r)t= LCT 1~ ~~"F S.J. C'A.I~:[)• 5 S!!Nf)IE~fSIC"V cif ~iI,IARTER SFCTtCII~' 33t? C1F KAPdCH+[J [?t' LA id AClfii\4 I^i Tr~f' CITY C~~ C~I;LA VISTA, Ira Ttr~ (.C`UNIY C'•f SC~P! ~JJEGr?• STATE QF C~.1_IFti~;~~siA• l+CCUR+)i'VG T~~ ~'4f~ THEuf~GF rl{?. I8j Ff1f'r} Iht THE C!FFIC[= I~~F CCcL-'dTY fdLCf)fif`~ia f1F SAN Uf "~Gl? C(7lrtiTYo . e ~~o i~ ESCRO4`! ILvJ ii\UTCl1CLv~J ~ ~ Escro~r~ i~o. ~scrc~:~ O:~ficer ^o: Title Insurance and Trust Company 220 "A" Street Sari Diego, California 92101 Date: April 1, 1976 On or before April 8, 1976, Buyer will hand you the following amount: $1,750,000 increased by 3/4 of to far each 30-day period comrienci_ng March 1st, 1976, to the date escrow closes, less the option consideration paid outside of escrow under -the Uption. Agreement dated January 6, 19 7 6 , bet~ti~een HARBOR RZANAGEMENT CORPOP.ATIO~' and the CITY OF CHULA VISTA (a copy of which is attached hereto as Exhibit 1 and by this reference incorporated herein. On or before April 9, 1976, Seller will hand you a grant deed, and Buyer and Seller krill deliver to you all auditional funds and documents required of them, respectively, to enable you to comply with these Instructions, all or w:~ich you are authorized to use or deliver on or before April 9, 1970, when all provisions and conditior_s of this escrow have been complied with and you hold in this escrocr the money and documents deliverable. under these instructions and can obtain a standard CLTA Owner's Policy o` 'iitle T_nsurance in the issuing company's usual form ;•rit:? t'ne tit.;.e c.o:npany ` s usual exceptions , with a liability in the a~,:ount Oy the purCrl~~S° pr1Ce ShO~ti'lner t1t1~. V2StE'%t _Lp t~`l:' CIi'~ OE' ,r Ct~UL:i ~'IS`I'f1 :.,~:~ COverl.ng l"a ~. pzOper_y' lIi tht' Cl i~~r Or' L' vl__- EXHIBIT "B" TO OPTION AGREEMENT ~~~/ VISTA, County of San Diego, Stage of California, described as set forth in Exhibit ? attached hereto and inco.r.porated by reference herein. SUBJECT OiQLY TO: (1) An unrecorded lease dated January 19, 1956, between JAMES M. BANNISTER and HELEN G. BANNISTER, husband and wife, Lessors, and THRIFTY DRUG STORES CO., INC., a California Corporation, Lessee; (2) A month-to-month lease between Seller and any tenant located in the RANCHMART building; (3) Liens and encumbrances set forth in the Policy of Title Insurance dated July 31, 175, issued by Title Insur- ance and Trust Company to HARBOR MANAGEMENT CORPORATION as the insured (except Item No. 11, a deed of trust to Imperial Savings and Loan Association), attached hereto as Exhibit 3 and incorporated by reference herein; (4) Covenants, conditions, restrictions, easements, rights and rights-of-way of record, if any; (5) Any defects in title ascertainable from physical inspection of the property; (6) All general and special taxes for the second half of the fiscal year 1975-1976. P~IAKE THE FOLLOb9ING-PROBATIONS, ADJUSTMENTS AND CHARGES: (1) Rentals and Security Deposits. There are no security deposits. The Thrifty Drug Store lease rent is paid in arrears. Accordingly, the rental for the month in which escrow closes will be prorated outside of escrow between the parties. -2- ~~~/ (2) Real Property Taxes. Real property taxes as of the close of escrow. It is agreed that Buyer shall, in all events, pay all taxes due on April 10, 1976, and shall receive credit for all prorates due at close of escrow. You are to cause no examination to be made of State, County, or City taxes and/or assessments, either real or persona].., but are to base the adjustment exclusively on the fiscal year amounts shown in the Preliminary Title Report to be obtained herein, including all items shown except personal property taxes and taxes on property not conveyed through this escrow. Seller agrees to pay, or cause to be paid, outside of escrow and before delinquency, all taxes on personal and/or real property not conveyed through this escrow, which appear as a lien on the property affected hereby, and you are not to be concerned therewith. (3) Insurance Premiums. Insurance premiums as of the close of escrow on any policies handed you by Seller to be assigned to Buyer on any of the property to be transferred in this escrow. Seller warrants, and you may assume, that the premiums on any such policies have been paid in full and that the policies have not been hypothecated. (4) Charges to Buyer. Charge to Buyer all costs and expenses of escrow including those f_or assurance and/or reports of title, and premiur.~s for title insurance on the property transferred hereunder and the real property trans- fer tax, if any. (5) Close of Escrow. Close of escrow means the date and time the instruments are recorded. rake adjustment on the basis of a 30-day month. -3- ~~a~~ GENERAL PROVISIONS ~ ' YOU ARE FURTHER INSTRUCTED AS FOLLOWS: (1) Time of the Essence. Time. is of the essence of these and all additional or amended Instruccions. If this escrow is not in condition to close after the last date specified herein for delivery of funds and documents, a party who then shall have fully complied with its instruc- tions may, in writing, demand the return of its money and/or property. But, if none have complied, any party may demand the return of its money and/or property. If no such demand is made, close this escrow as soon as possible. If the escrow is not to be closed, you are to return to each party only the money and/or property which it has deposited into escrow. (2) Payments and Delivery of Documents. You shall make payment to or for, or deliver documents to or for any party only if in your exclusive judgment such payment or delivery may be made without your incurring any liability, and you shall have no obligation to pay any costs or charges for the account of any party hereto except from funds held in escrow. As a condition of close of escrow, you may require that all interested parties approve in writing the final documents ar_d instruments to be delivered hereunder. All disbursements are to be made by your check, and you are to deliver all checks and documents to the parties entitled thereto. You may use regular mail to the parties' respective addresses shown herein. 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. Instruct the :.ounty Recorder to mail recorded instruments to the parties entitled thereto. -4- ~~~/ ~ (3) Deposit of All Funds. All funds received in the `scrota shall be deposit?d with other escrow funds in a creneral escrow account or accounts of Title Insurance and Trust Company and may be transferred to any other such general escrow account or accounts. (4) Title Search. Order title search immediately. Unless otherwise indicated, you are authorized to obtain a policy of title insurance through Title Insurance and Trust Company. (5) Assignments of Policies. Execute on behalf of the parties hereto form assignments of interest in any insur- ance policy to be assigned to Buyer herein and forward said assignments upon close of escrow to either the agent or the escrow company, at your option, requesting the insurer to consent to such transfer, to make such other additions or corrections specifically required, if any, and to forward such policies to the parties entitled thereto. Execution and forwarding of such form assignments are your only responsibilities in connection with any insurance policies called for in this escrow. (6) Costs and Expenses. The parties hereto jointly and severally agree to pay all the costs, damages, judgments and expenses, including reasonable attorney's fees, suffered or incurred by you in connection with or arising out of this escrow. You shall have a first lien on the property and papers held under this escrow for such compensation and expenses. (7) Conflicting Demands. If conflicting demands are made or notices served upon you with respect to tris escro:~, the parties hereto agree that you shall be entitled to refuse to comply with any such claim or demand and to -5- '~o ~ ~ withhold and stop all further proceedings in and performance of this escrow so long as such disagreement shall continue; in so doing you shall not be or become liable for damages or interest to the undersigned or to any person for your failure to comply with such conflicting or adverse demands. You shall be entitled to continue so to refrain and refuse so to act until (a) the rights of the adverse claimants have been finally adjudicated in a court assuming and having jurisdic- tion of the parties and/or the money, papers, and property involved herein or affected hereby; and/or (b) all differences shall have been adjusted by mutual agreement and you shall have been notified thereof in writing by all of the interested parties. In the alternative, you may file a suit interpleader for declaratory judgment for the. purpose of having the respective rights of the claimants adjudicated, and deposit with the court all documents and property held hereunder, and the undersigned jointly and severally agree to pay all costs, expenses and reasonable attorney's fees incurred by you, the amount thereof to be fixed and a judgment thereof to be rendered by the court in such suit. (8) Escrow Holder as Depositary. You act hereunder as a depositary only and are not responsible or liable in any manner whatever for the sufficiency, correctness, genuineness, or validity of any instrument deposited with you hereunder, or with respect to form or execution of same, or the identity, authority, or rights of any person executing or depositing the same. You are neither a party to nor are bound by any agreement which may be deposited under, evidenced by, or arise under this escrow. (9) Nonresponsibility for Notification. You shall -6- ~~~ /~ have no responsibility of notifying any of thz~part~ies to this escrow of any sale, resale, loan, exchange. or other transaction involving any property herein described or of ar_y profit realized by any person, fire or corporation in connection therewith, regardless of the fact that such transactions may be handled b_y you in this escrow or in any other escrow. (10) Extent of Liability. You shall not be liable for any error of judgment or for any act done or omitted by you in good faith, or for any mistake of fact or law, except your own willfulness conduct, and you shall have no duty to anyone except those signing these Instructions. (11) Execution in Counterparts. These Instructions-may be executed in counterparts, each of which so executed shall, irrespective of the date of its execution and delivery, be deemed as original, and said counterparts together shall. constitute one and the same instrument. (12) When Instructions Become Effective. All parties hereto understand and agree that these Instructions, duly executed by the parties hereto, become effective only when they have been deposited with and accepted by you. .~- (13) Notices and Demands. No notice or demand shall be of any effect unless in writing; no change of instruction shall be of any effect unless in writing signed by all parties to this escrow. No such writing will be of any effect unless given to the escrow officer at its branch or office named or_ page 1. Executed at Chula Vista, California. BUYER: Dated: Jan. o"", 1976 SELLER: Dated: Jan. 6, 1976 CITY OF CF:ULA VISTA, CALIFCR.~:IA B ~~ Thomas D. Hamilton, _~Iayor HARBOR ~1_'-1NRGE:~IENT CORPOiZATION, By B. James Polak -7- ~~O/~ 't ... AlEP-10RANDUP-1 OF OPTION AGREEhtE[VT 1i:u.~~JR ~~L~VAGE?•IEi:T CO?PO~;^IGN, a California cor- • poration, has granted the CITY OF CHULA VISTA an option to purchase real property located in Chula Vista, Cali- fornia, pursuant to an Option Agreement between the parties, dated January 6, 1976, whiciz contains the terms and conditions of such option. The legal description of the optioned property is set forth in Exhibit "A" attached hereto and incorporated by reference herein. The option expires, unless exercised, on riarch 31, 1976. OPTIONOR: HARBOR NfANAGEPii;NT COR~ORATIOti, a California Cor ation ~~/ Date: Jan. 5, 1976 = B ~'1~.~.~y''t~ • B azne "Polak Greta y/Treasurer OPiIO~TEE: C?TY OF CHULA VISTA -Date: Jan. 6, 1976 ~,~~~'~~ Thomas D_ Hamilton, P•iayor State of California ) • ss. County of San Diego ) On January 6th 1976, before me, the undersigned, a Notary Pub lic in and for said State, personally appeared B. JAI~iES POLAF:, kno~•rn to re to be the Secretary of the corporation that executed the within instrument, kr_o~ar_ to me to be the person who executed the ~•~ithin Ins~r~;::'n;" cn behalr of the corporation therein named, and acknowledged to me thst such corporation exocuted the within instrument pursuant to its byla:~:s or a rzso~ution of its board of directors. - :•~ITi~ESS my hand and official seal. Notary Public in ar.d fcr sZi:i State EXHIBIT "C" ~~~i~ F TNf: lhp,f) RFFT'RF.I;U Tli Iti Tt~iS ^~-L;CI' iS SITif:S!"i.- iN Tt~F STATf~. ~F ' CALIrU~'~iar Ci~UtYTY Gf Sd~] 7ItGt), Ar;U IS t;fSGRI4F{) a, ~['lt.Ot;St 'y ~ PARC: L t: Tf;AT PQ~2TI0-] OF THE NL"STL•~lY 356 FCCT OF L~JT I~ OF S.J. P,AI~cO'S Sf1EsUI~'ISIO}l CF `fit.-A~tTFEt St'CTi{ICJ 13t; ()r t:AwC~ti- LC lA f~ACI~~w• I~2 THE CITY OF • Ct+uLA VjSTA~ IN TKF CfiUt~tTY [VF Sl.f~ U1fC:?• ST[~TE Gt= Gt~E,jFt_-irvlar ]tCCr'Ftn1~1G TO r,aa t"C~tFf)F +at). 1R> FtLf~-) IN THE r,FFICE t?F C:''.-~~tl'Y Rf_C-JRD:=f? CJF SA,v nif:~:[' C7-1NTY, FEE:kUARY 28r lEtt?7r LYING NnRtttCP,LY !)f THE FULL(7,l1NG tIEG;"t'~I`~G AT TNF SCttTEft+'ESrC-RLY COfrfaER QF SA1[) LOT lti; T)tFrdCC N(lRTtt 14a wFtT ALUNG THE I:E'Sif:RLY L1tiE ['F SA;1J LUTr A f)ISTht~CC Gt= lOQ F£rt TCt 3F{C TRUk PUi~T QF BEGItt{~ttl~G; Trt~>~}CC t;ORTN 71°U7' £AST TO Tl-tt: EASTIrRLY LI+1E OP SAID t-tESTERLY 358 FCET. FXLEPT THERt:t=RCtFt THE *it:RTtlERLY 100 FEET t'lF TF{E EASTFt:LY 4T FE£T TNI:tiC{ZF. P~,P.GFI 2: ~ - THC EASTf.RLY 2zS FEEY (1F LiZT 26 Itd TNF $U°D1VIS10=i [1F QUARTER SCCTICIty 13E3 C-F RA~tCNra OF LA ~l4CIt~Nr I~ THE GTTY C)F Ctsl1LA ~~ISTt~g Th Tt{F COUtsTY pF SQP~ L~Ir".:ino STATE= QF C~iLjFt~R~11Ac ACC:!Kf31NG TO f~<.AP TY.ERCLIF P`tb. 1P5 FILCf~ IN ft-:C CFf ICE QF CC!t.]]1TY Rf.CtlRfj~R t7F S4N OIFuQ C[?UtiTY FFG'RUA!].Y ?.tir I8EI7. £XGFPT T);EACI'RO)? THE 30JTttc2LY 50 FELT OF 7KE EASTI:R.LY 135 FCCT THEREOF. ALSO EXCt'PT TH£RFFP,U"`. T;-tE tittRTt{PREY 30 FEET TNECFtTF. P1rRCCL 31 lOT 26 IN TtiF SU(~('IVjeiCr! L'F L`t!ARTFR OF SECTIC-s 13t; (lF [2ANCHn DE LA ~v~.CIOr~• Iv T-:F CiTY t.F C-tuLa VISTA, I~t THE Ct1UtiTY uF SAr: DIEGU, STATE. UE= CALIFt''uNI4r aCCnRt?I~tQ TJ !!AP TttCRFUF pt(~. iQ5 FILFU Ih 7HE (!~FIGr GF CnVNTY R:Ct7ttDr'R CF SA'ti [11EGC] CCUNTYr F~RRL',~t:Y 23• !E??. EXOfE'T TNFRFFROu THE EASTERLY 225 FEf.T TNERCUF. ALSO EXCEPT TN(;REFRO~r Tt{F tvl1RTN1'KI.Y 3Q ECFt THE-tFUF. ALStJ CXGfPT TNERF.FRC+~' T~+E kFSTFf:1.Y ~U FEET THFRC[1F. EYIIIIIIT "A" 1 0 MEMORI1NDUt•1 OF OP`PIOP1 AGI2T:IMENT ~~a, ~ DAFtCCL ~5: THAT PORTION fif LOT 31 (?F THC SUF+?IY1S1(1N QF^.l-AkTCp SFCTI~3N t36 C?F THE RA19CIi() OF LA f•!A(;ICtAt t~AI)E HY J• :. SAIZL1t 1N THr. CITY -Jf G-iULA VISTAo IFi THL•' G(~tttyTY nF SAN DIE~G, STATE: OF GALIFORhIA~ ACCOJii}iF1G TO tSAi' THE2Et)F ~t0. 1G5 FILE:O Ire TJaf~ C'FFICF OF GGUr+TY RECGRCER t~F SCP3 OtEGQ CQUUTY GCSCki~CO AS FLLIt)uS: 6_GI^tt~t`~C, .1T TNf NE1RT}tEASTERIY COZ~1cR nE TNf-. MESTFRLY 150.OU FCtiT f_+F SnID ltlT "st• TNF+,lt;~ ALO`~G TNr 4tESTt:hLY LI~JE TJ-tEREGFe St',IJTt-! 19°Ott~UO~ `J1ST 240.OU FFFT TG Tt•ET' r~GkT~tERIY 1_IhE t3F "I^ STt2E£T• FC~Rr=Ft~LY FIuST STREET, AS Sti(:JHt~' Ceti SA1f? t~Aa N0. 1?5: 7HFJy(;t: -vt~kTH 7t°QO~aG" EAST aLO>~G Sato t~IGRTHEKLY LINE' TO A Pit1tiT Gh T~~r"- EA57f-JZLY LtJ~E Ur TkF' t{EcTFJ~l1' 230.00 FEET CF SAID L-)T• THf~;CF AL~3~~1G SAKI E~~STERLY LI'~E• N(iRTN 1q°Oc1'r)Up NEST 150.40 FEC1; (:iFNGi --~('2TH 7I°00*Ot~" EAST SG.OC FEET Tn THE EASTERLY LIE:` Ct= T-iC Nc$Tl-f~LY ?EIO.On FFFT CIF >A1~` LIST: Ti;Ct?GC bL(1kG SAI[) J?C~STrRLY l.Ir~Eo SC)UTN 14°C~!I°C~U" EAST lEU.00 FC=Et Tr; THE !~{(:R1'fiFRt,.Y ItNL CAF SAE() "t" 5TRCFT; TKJ=tiGE AL+1NG SAID Nf)KT--Ii:JZLY Lit~C, NCIRT4-! 71°U4'UO" EkST f0 THE EASTERLY 11+rF +?r TIi~ t~CSTf^LY 31~).c,0 fEET t;F SliIU LOT; tJ-~Et~CE ALt:JE.v 5Aio EfaSTEiiLY llttiF tvC+RTH 1q"UC-'t)t~" ~'E51' 1tip.0(' ~'EC7~ TH~'v(;F Ni)RT,~i ~t°00°l3Ut' EAST z35.()G fEFt; TtiFr:CF ;t'UTN 19°g0'(10" CAST 19(1.t?q t"CFT TO A NGIhT n~ TtiF: CF.+iTER • LIt.E OF Sdif1 '=T" SF~ti:FT; TNr~'~tCC QLf~h'G SAID CENTER 1df41Eo NC)RTH 71°00'OOr EAST 60.0 F~FT TO A PCJI'~T CIfSTAt~T TtiEJ2:GN• SOUTEJ T1°00'00" +~r~'ST 2Q5.00 FEET FKC+Fi TNr tWT;ttSiCTION C:F".~•[`~ GF?JT-:R LIME KITii Tf~E CrJ~TER LIME OF 3~'D A'/CUU~• THE:ttCC :'Q2ALLEL atITH TJ-JE NcSTCRLY LINE OF SAID 3RD AVkNUE Nt)FtH ly°OQ'+ZO" uFST 330.0[) FFCT 'T'J THE N+7RTHERLY LIAJE t'F SA If? ICIT 31: 1'tiEr.(;E ALt1t~G ~AI~ NURTt+EkC.Y LINCc SDUTH T1°0(}'0(~a 4IFST 3t)5.()U FEfiT TC- THE PtIiNT C'F 3FGIn:~tiWG. PARCE:!_ b J; TKF ~lRRT~~~RLY 4V FF<T CAF THE EASTL;tI.Y Lb 3.lii FEkT (fF LOT ?3 CF S.J. BAIk[I'S St19-7t~'iSt(7"+ GF is+tJnRTtR SC CTi:t~ 13? OF RnhC~+U OF LA hACI()N• I-i T-+E CITY [+F CJ1fJLA 'l1STA• i~t~ Tr:(: CrUNTY f)F CAN ~?1rC.L-t STQTE OF (;nIIFORMA• ACCORfII-~G Ttl MAP t4iEki-t1F ~1t~. 1B5 FIIFO IN fIIC OFFICE: OE G!7Ut~JTY RECUROER qF sar2 OI Et;(j CUIJ'~TY. P4RCi: L tt _. _. ... .' .. -t -' .. _ ., _; ~; ~~oi ~ TNAT pp:~TT~~;~ tlF: 1+;15 [ ~t•;J : 1 r.c ::. J. f~.•.[1:U•:, ~~.t;'OIV(1((~:~ '1c t:~t.IAREFR. SCCT1i+rt t 3 ~F kA"~CrU' :•t. t A Nt.;.l~:tl. I,t T11f t,1Ty +'~t• (,l+ULA VI;fA. IN (ttE= C!)t1i~TY (iF iAt~ U[~:GO• S(~1fF h!' C, At IFt;t:'~TA• .'CCt~R~(1!G Tfi hlAi' TttC~:t~OF ^dQ. 1t15 FtIC~Cr jw TNF I:FFICF OF Cr.+-r~TY ;+:Ct?KI)FR (+r SAk (:+jFr,i~ CQI!tiTYf Gf SCRI(3EU AS FlILLUwj: BfGINN(td~, AT TI(r 1de'STCRLY CO~t!U~~ Cvit-vER f)f SATs LrrS IR ANf) 232 TNk.y~F 'S('tITN 14° CAST Al.t)NG 7N.~' 1~ESFi~K[.Y LINE t'If St~II) Lt1T 2'?~ A +)(STAItiC(' CF 3S2 FEET TU Tf+r- Sr~:rT-++,FSTrKLY r,D;~hFR CF SaTU Lc'T c3; r~,; r,t'E v~kna 7t°~7° F4ST At.+;kG Tt{(; SC:11Tt4CKLY LIr'•r Gf St:tO L(?T 23, A UISTat~ir~. fIF 2(?(} FFF7; TNCNCf- Nt,:,tTH ISO HALT n GI ST,r,ti'LZ CF 13'2 f i t: T, Hpp~ OQ LC SS • Tq !: PC(hT tlPr Tt-ar, td(;ttT=-(~RLY LI~~E ClF Tiic Sl1JTHFRI'Y l/i -~F' ~..1j„ Lt)T ??: TNt:-~'t;C NQRTN T1°G?• Cl.Sf ALt'IPtr, SAIC+ ':f~RTt-:C:RLY !I~lF t~F SA (!` St',11T1<t~RtY 2/5 A rISTANCE vF 424 FKFT TC A P(;I-~tT (ltd Tt-~~ EASTi~kLY L1!~F ^F SAIU LOZ' ?3: TtiCPtC% NU~ZTH 19~ uESf• A atST4rtCE +?F i4t: t'C~T TU Tt~E: NORt1•+FASTf:~.LY COktvE'tc t1F SAID [_~)T 23: TtrFNCF ;ftUTt4 71°47• lrES? At,O'tiG THE t,~RTH£RLY L Ir.F l?F' SA6;~ L_)T 23• A [)ISTAtVCc t)F 763.18 FfFT; TI,:NCt• ~1(t~TH 14° wFSt• A DfSYAI'1Cr r)F 1~7C EEE'T; TItF'dCE Sr)UT!? 71 °07' DIES t, A DISTA'<ICt: OF 35y f-FE t Tp A POl hT -1r.1 T~F kESTf.'RLY lir•!f CF SAID LOT it~•i rNCraCr illl.Tli 14° FACT Al.Gr~~G Tt;E biFSTER[_Y LIF+F (7F SAID LiIT 1t?a k i,jST~t~vCi c3F IOd FFFT t0 THE HUt~~T >'3F t3FGjt~:wtkr,. :XCEPT TE~rREF~Or-t TNt: htURTsaERLY 9A f'E:FT' OF THE EASTcP.LY 263. t+3 FE'E'T >iHEt~F~DF. '-I.SJ !•XCEPT TH!;RFFFZi:?Pi T}tE SOUTHERLY t? FEET t:F jHE WESTEr~LY I~0 FEET .HEuEC)F. - ,ARCt:L 8s H(. !dC?RTHERLY b I'~CHE=S OF lt.~T 2fi I'V ThE 5C(r•[)IVISCIN CF Ql1ARTFR SIrCTIGN I3!: )F [~Ar;E;a;~ OE LA NAC[!`iv, jr~ Tt1E CITY OF CttULA vlsrn• IFt T-~t= CWrdTv t7F Sc,N 1IEi,(:~. 'STATc t7 f: CAL[ Ft_'.2r(jh. ACC+~~^(~•SC, TG t~AN TiiFRCOF' tvi). SQ5• F[[_CD Itv Ht: C'Ff~IGr'_ CF C(II+NTY R>:GC?RL~i:R ELF SAiv DICG(: GC?Un'TY~ f~P.RCN I3. 1$(3f#. bRCE' L 9 r ttC F:ASTEZLY 293 FEET !1F TrtF wCSTl;~tLY 493 rCFT uF THE SOUTriCRLY 2fSTN5 t)F rT ?3 !1F S.J. bATk[)• S Sllc~t)I~~TSTi~V tiF wUARTER SFCTIUt. 23C OF RAhCt-~tl Cli' CA 4C[lltd• I'v Tt~t' CITY Gr C%iULA v[STA• Tlv TttF G('UA+TY OF SAN DJFCr'• STATE 01= !![.!Fl+~~vlA• I+CCCIf<+~I'•tG T') MAP TNf_fif~CF W0. It3 FtLEt) IH THE OFFICE OF f+v~lTY RLGORf'FR L1F SAN ll[ ~:GU Gl7l+hTY. a i~ i' ,. ,~ :; I+It 'f i~ i t~ t~ i~ ~` !! •- ~ ~~o~~