HomeMy WebLinkAboutReso 1961-2743 Resolution No. 2743
Broadway-Hales Stores Inc. � • .
RESOLUTION No. 2743
RESOLUTION AUTHORIZING EXTENSION OF LEASE AGREEMENT
AND EXTENSION OF PURCHASE AND SALE AGREEMENT BETWEEN
THE CITY OF CHULA VISTA AND BROADWAY-HALE STORE§ , INC.
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i,iHEREAS the City of Chula Vista' and Broadway-Hale Stores, Inc. have
heretofore entered into an Agreement wherein and whereby the City of Chula
Vista agreed to sell certain real• property described �in F3chibit l as Parcels
' "A" and "B" of that certain Agreement dated November 4,' 1959 ; executed by and
between the said .parties [o which said Agreement and Exhibit reference is
hereby made and the same incorporated herein as though here set forth in full,
and •
WHEREAS the City of Chula Vista and the Broadway-Hale Stores, Inc.
have agreed to lease certain real property described in Exhibit 1 as Parcels
"A" and "B" of `that certain lease Agreement dated May 10, 1960, to which said
agreement and exhibit reference is hereby made and the same incorporated herein
as though here set forth in full, and
WHEREAS one of the purposes of the said lease was to make up and
reimburse to the City of Chula Vista certain rental income lost to it by the
construction of rental housing on the said real property which income will not
be replaced until the said Broadway-Aale Stores, Inc. has completed its 'improve-
ments thereon, and the City of Chula Vista is receiving sales tax money from
such operations, and
[7HEREAS the said Broadway-Hale Stores, Inc. has not installed and
cannot install the said improvements according to the original contemplated
schedule so as to be operative by January 1, 1962, �
NOW, THEREFORE, BE IT RESOLVED that: The Council of the City of
Chula Vista hereby authorizes the execution of that certain Agreement extending
the purchase and sale agreement to the first day of July, 1962 and the execution
of that certain agreement extending the lease agreement to and including the
30th day of June, 1962. �
2 : The City Clerk�is hereby authorized to forward to Broadway-Hale Stores,
Inc. an original and three copies of the said extension agreements for their
signatures and upon the return of said documents to the City, the Mayor of the
City of Chula Vista is hereby authorized to sign said extension agreement on
behalf of the City of Chula Vista.
3. The City Clerk is hereby directed to send to Broadway-Hale Stores, Inc.
a copy of this Resolution with said doc�ents. '
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ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF
CHULA VISTA, CALIFORNIA, this 19th day of December 19�j
by the following vote, to-wit:
AYES: COUNCIIMEN Smith McMains,McAllister,De(,Yaaf
NAYS : COUNCIIMEN None
ABSENT: COUNCIIMEN Menzel
��'�u�-�
Pro-tem Mayor of the City of Chula Vista
ATTEST :�/ '1 a..� s�Y�/
ity Clerk
STATE 'OF CALIFORNIA )
COUNTY OF SAN DIEGO ) .ss.
CITY OF CAtiLA VISTA )
I, KEPINETH P. CAMPSELL, City Clerk of the City of Chula Vista,
California, DO HEREBY CERTIFY that the above and foregoing is a full,
[rue and correct copy of , and
that the same has not been amended or repealed.
DATED
. City Clerk