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Home My WebLink AboutReso 1965-3688Resolution No. 3688 Bonita Valley Country Club Richard W. Wilson and Marian B. Wilson Gordon Pettit and Elsa Marston Pettit & Bank of America National Trust & Savings Assoc. Operating and maintaing thereon a Municipal Golf Course 3688 7 -; C 1‘, Or : CZ il.A.'211:1'n c r;;.- TKETF.:;:ra ID: TFE C iL L' 7 L AnD 2XTCUTE SX-1E ON Cfl2"y7 Th . :iic: i .-"Thr-.7. City c-tf relve a: tol1c7r.r--, the Cf.ty of the Clty of herDto3r: purwt to Recz,o,:Lat , v1 No 3672 , 6th w= April 7S,55 tha oxtarc,:: 5e ot thizting 87 acr--:-.3 a * LL : - de la in _• St . e of u.:Aliforry,E', accordg tc, Mal) 166 na±:: 1,y in the tieg flecr,ty OfF,icer, 2=4:rcel , appL,..-oxima' zly 13 t:Lreo,, being c. portion of Rzlyr.:ho de La aii. . etc... 7 Parcel No 7, a p,nrt.:,.on sLta, beil,:g a pc,12,-.--.ion of Wu :tx !--IlectifJ,n SO . rfc.lcho etc. ; Parirel No, containing al,?ro7emately portion o'ff OlarLe.,-: Section 4?, REncho de la Nac:Lon, BONITA VALLEY COUYTRY CLUS, anC WHELIA,L, the City has causE,:l apprnisaL:: yuf7.1,1 property to e '2d : . cued to 1:71terpine prooerty oi Tg7.1 -h the purc7.-1. e rcc ofT? uh :10t2rmincc: WHEIA-! , it appez-,z5:, tc, ac in of. Chula si :';.:.gta aoccpt option RICHaRD WZ:L,SU MA.:TsaAN C:".t0T1_4:X:N PETIT; a anC 1,assorL , arfi ?Fr AYD SAVINCJ ASSOC-J- TYON, as -1- .. 4. . . . , . . . • NkW, MERUGRE, DE IT REOLVED b7.7 '*1.1e Ccunc::ii oif th Chula 'ifl ,s- , as fclevis Tha tat crtain option acjeement e%ecx.to.d . ..-,7 WIMON and. M.A.RIT 12', WILSON.; GOYTON PETTIT anc:. '.: LSA ,74T(' :,1,.ZTT and THE BLN'K OF 1-J.2:RICA NATIONAL TRUST AND SAVINGS ASSOCYON, giving ant. granting to the City of Chula Vista an option t Tx.rcha that certin real property known as the BONITA VALT,E co for the sm of THREE HUNDRED AND SEVENTY THOUSAND DOLT,L7 ;:17J . pursuant o the terms and condition of said option agrctement, as more partcularly set forth in said option agreement attached retc and incorporated herein, as if set forth in full. BE n' FURTHER RESOLVED that the Mayor of the City of Chula Vista be and he is hereby authorized to execute said option agrr for and on behalf of the City of Chula Vista. Presented by 17671RiM7UFTE71-7217ETITEFZETT6T1-ice Approved La. to fo= by Georce D. Lindberq, City Attorney -2- ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF CHULA VISTA, CALIFORNIA, this?°t_kiay of April 19-- 65_, by the following vote, to-wit: AYES: COUNCILMEN McMains, McAllister, Anderson, McCorquodale, Sparling NAYES: COUNCILMEN _.— None ABSENT: COUNCILMEN None.._ . �c rte'-e'-?* ayor of the City of Chula Vista ATTESTS..-•- -4. _(%z.zt_< - .41.7/ City Clerk STATE OF CALIFORNIA COUNTY OF SAN DIEGO ss. CITY OF CHULA VISTA I, KENNETH P. CAMPBELL, City Clerk of the City of Chula Vista, California, DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of and that the same has not been amended or repealed. DATED: City Clerk CC 652 AGREEMENT OPTION TO PURCHASE CERTAIN REAL PROPERTY LOCATED IN BONITA, CALIFORNIA THIS OPTION AGREEMENT, made and entered into this 20th day of April , 1965, by and between the CITY OF CHULA VISTA, a municipal corporation hereinafter called "City/Optionee," and RICHARD W. WILSON and wife, GORDON PETTIT and wife, as owners and lessors, and THE BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, as trustees, hereinafter called °Owners/Optionors." W I T N E S S E T H WHEREAS, Owners/Optionors for and in consideration of the premises and for other good and valuable consideration, receipt of which is hereby acknowledged, do hereby give and grant to the CITY OF CHULA VISTA an exclusive and irrevocable option to purchase that certain real property known as the BONITA VALLEY COUNTRY CLUB, as more particularly described in Exhibit A, attached hereto and incorporated herein as if fully set forth, for the sum of THREE HUNDRED AND SEVENTY THOUSAND DOLLARS ($370,000.00) . NOW, THEREFORE, IT IS AGREED by and between City/Optionee and Owners/Optionors that the terms of this Option Agreement shall be as follows: 1. Said Owners/Optionors do hereby agree to deed and convey all of their right, title and interest in and to said property pursuant to the terms of this option. 2. Property taxes shall be prorated as of the date title passes. 3. Said property shall be transferred and conveyed to the CITY OF CHULA VISTA free and clear of all encumbrances, except -1- easements, restrictions and conditions of record. The purchaser shall rely on its own investigation as to the condition and title of all property included in the sale. 4. The terms of the option to sell all of the above mentioned real property and leasehold interest shall be as follows: a. This option shall commence and be in full force and effect from and after the 7th day of April, 1965. b. This option may be exercised by the City of Chula Vista by said City delivering its written election to exercise same to the Owners/Optionors on or before the 22nd day of May, 1965, and by paying to the Owners/Optionors the sum of THREE HUNDRED AND SEVENTY THOUSAND DOLLARS ($370,000.00) on or before said date, or by depositing same in an escrow covering the sale on or before said expiration date, which escrow shall be for a period of not to exceed thirty (30) days, unless such escrow period is extended by written consent of the Owners/Optionors. c. IT IS FURTHER AGREED that the City of Chula Vista may, upon written notice on or before the 22nd day of May, 1965, declare its intent to exercise said option on or before the 4th day of October, 1965, if, and in the event that on or before said 22nd day of May, 1965, City/Optionee shall have received a favorable financial feasibility report from a reliable financial consultant, which report shall indicate the feasibility of acquisition of the golf course by City/Optionee, and the best means for obtaining the necessary financing to execute this option and acquire the sum of THREE HUNDRED AND SEVENTY THOUSAND DOLLARS ($370,000.00) to carry out the purchase of the interests described herein. City, by such notice, shall offer to purchase the real and personal properties included within the terms of this option for the sum of THREE HUNDRED AND SEVENTY THOUSAND DOLLARS ($370,000.00) in cash, on or -2- before October 4, 1965. Said offer shall be contingent upon and subject to the successful completion of the financing program as recommended by the financial feasibility report. d. It is further agreed that upon receipt of said offer by the Owners/Optionors subject to the contingencies and limitations as set forth, Owners/Optionors accept said offer and agree to be bound thereby to and until the 4th day of October, 1965, and comply fully with the terms of the prospective sale, and that the grant, conveyance or transfer of said property shall be effected as set forth herein pursuant to the terms of this option on or before the 4th day of October, 1965. OWNEOPTIONORS , Rich rd W. Wilson Arian B i Sony i-, Gordon Pettit �.- C- k� .SL O__ CS'wL�. 1�,- c 0.,�� Elsa Marston Pettit BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSsu ATION C:7------- Trust�Of€icer,-'' ) `�.• \ / c\-'/ ..C _:oz__„ ---�� Assistan Trust Officer roved as -o • m by CITY/OPTIONEE: CITY OF CHULA VISTA George D„/ Lindberg, City Att y EYeanor :Anderson,_- , Mayor -3-