CC Resolution No. 8948
RESlliJI'ICN 00.8948
mrornrrœ OF 'JHE crIY <X:UfCIL OF 'JHE crIY OF aJPEID'IlD
DEI:I.l\RDC rrs IN1'ENl'Iœ 'ID SE[L SURP.I.m REAL 1'KJl'n<1"Ý
(SEVEN SPRINGS SUBDIVISON)
OCIŒIFR 4, 1993
WHEREAS, the city of CUpertino, hereinafter referred to as "city" is now
the owner of that certain real property which is located at Dorothy Anne
Way, CUpertino, california, commonly known as Seven Springs suJ:rlivision,
and more particularly described in Exhibit "A", attached hereto and
incorporated herein.
WHEREAS, said property is not needed for any governmental purpose and that
it is the judgment of the city council of the city of CUpertino, for the
best interest of the City, that said property be sold to the highest
responsible bidder or bidders urrler the authority of Section 37350 et seq.
of the Goverrnnent Code of the state of california.
WHEREAS, the city has c:onplied with all the legal requirements established
for the sale of surplus property including the requirements specified in
Section 54220 et seq. of the Government Code of the state of california.
NOW, nIEREFORE, it is hereby detennined and ordered that said property
shall be offered for sale urrler the following terms and coooitions:
1. BIDDING DATES
'!he city of CUpertino shall offer for sale one (1) :iJrq:>roved
residential lot. '!he bidding session is to be held on Morrlay, October
4, 1993 at 7:30 P.M. in the l.cMer Level Conference Room of the city
Hall, 10300 Torre Avenue, city of OJpertino.
2. WRITI'EN BIDS
Written bids shall be presented on the Bid Form as shown in Exhibit
"B" . Bidders can use the attached form or obtain additional copies of
the Bid Form as noted in Paragra¡ñ 13 of this Resolution. '!he Bid
Form must be received by the city Clerk of the city before 7:30 P.M.
on the date of the bidding sessions.
'!he Bid Form should be completed and placed in a sealed envelope along
with the appropriate deposit as described in paragra¡ñ 5. '!he outside
of the envelope should state that it is a "SEALED BID". '!he bid can
be mailed or haOO carried to the City Clerk, city of CUpertino, 10300
Torre Avenue, OJpertino, california 95014. Mailed bids should be
placed in a secooo envelope and addressed accordingly.
3. MINIMUM BIDS
The minimum acx::eptable written bid shall be $326,100 for IDt 187. All
bids sub'nitted must be cash bids. Bids for less than the minimum bid
amount will be rejected.
Res. No. 8948
4. TERMS
. Bids shall =nsist of an =nditional offer to purchase a lot for
cash, payable in full, in cash, cashier's or certified check at the
close of escrow. A successful bidder shall be given three (3) days
after acceptance of bids to execute a purchase =ntract (Exhibit "0")
and thirty (30) days thereafter to close escrow unless extend.ed by
written mutual =nsent of the parties.
5. DEPOSIT
(a) Amount of Deposit
All suJ:mitted written bids must be aCCOllpIDied by a certified or
cashier's check in the amount of $15,000.00. said deposit should
be made payable to the City of CUpertino.
(b) Deposits Required of Oral Bidders
'!hose irrlividuals or entities planning on participatirq in the
oral bidding rot who have not suJ:mitted a written bid with
deposit shall be required to tend.er prior to the cx:mnencement of
the oral biddirq, a deposit amountirq to twenty thousand dollars
($20,000). said deposit must be in the form of a certified or
cashier's check made payable to the City of CUpertino.
All bidders who have suJ:mitted a $15,000.00 deposit with a
written bid which complies with the terms herein, shall not be
required to suJ:mit any additional funds to participate m the
oral biddirq.
(c) Forfeiture of Deposit
In the event a bid is accepted and the bidder fails, within the
time allotted herein, to exeOlte any documents related to the
sale, includirq the purchase =ntract, or otherwise does not
perform accordirq to the terms of the bid, then said bidder will
forfeit an amount equal to $15,000.00 for the lot successfully
bid upon and subsequently not purchased. '!he difference, if any,
remaining after subtractirq the $15,000.00 per lot forfeiture
from the original deposit will be refurrled to bidder upon the
detennination that bidder does not desire to =nsummate a sale.
(d) Return of Deposits
Deposit of unsuccessful bidders will be returned after the city's
final acceptance of the successful bid, rot in no case, will such
period extend beyond ten (10) days after the bidding session. No
interest shall be paid by city on any deposits.
Page 2/6
Res. No. 8948
6. TITLE
Title to the property shall be conveyed by Grant Deed subject to all
liens, encumbrances, or other cloud on title which may affect the
property. A copy of the prelbninary title report is available at the
city Offices, (Department of Public Works) 10300 To=e avenue,
Olpertino, CA.
7. u::tr INroRMATION
A file for Lot 187, containing a tract map; street improvement plans;
geological reports; prelbninary title report, bylaws of Seven Springs
Haneowners Association; Declaration of Covenants, Corrlitions an:i
Restrictions for Seven Springs Developnent; an:i the Residential
Hillside Ordinance is available to the public in the Public Works
Department, Morday-Friday, 8:00 a.m. to 5:00 p.m. Arr¡ questions
regarding developnent requirements may be referred to the appropriate
departments: Building, Planning, or Public Works.
8. ACCEPl'ANCE OF BIDS
'!be a=epted bid, this Resolution an:i exhibits thereto an:i the
executed Purchase Contract (EKhibit "C") shall constitute the contract
of purchase in a=ràance with the terms outlined in said d=uments.
'!be city Council of the City of CUpertino reserves the right to a=ept
a bid which in its' sole discretion deems to be in the city's best
interest. '!be City Council of the city of CUpertino reserves the
right to reject any an:i all bids, waive any irregularities, be the
sole judge of the responsiveness of the bids arxi to determine which
bid constitutes the greatest return to the city.
9. CLDSE OF ESCRCM
'!be transaction shall be consummated through an escrow to be opened by
the b..1yer (sucx:essful bidder) at Valley Title Co., 10625 South De Anza
Boulevard, CUpertino, CA 95014. All escrow an:i other costs including
title insurance, any taxes, charges, or fees asœsseci by local, state,
or federal governments as a result of the subject property transfer,
shall be oorne by the b..1yer.
10. POSSESSION
'!be City shall turn over possession of the premises to the purchaser
at the close of escrow. '!be city shall maintain existing insurance
coverage on the property prior to close of escrow. '!be sucx:essful
bidder may have reasonable acx:ess to the premises for the purpose of
studies related to the developnent of the property prior to the close
. of escrow. '!be sucx:essful bidder will hold the city harmless for any
damage to, or loss of, personal property, or personal injury incurred
by the successful bidder, or representatives, agents or employees of
the bidder, should such damage, loss or injury oocur on the subject
property so lorg as the city retains ownership arxi occupancy of the
property .
Page 3/6
Res. No. 8948
11. REAL ESTATE BROKERAGE cx:M-1ISSIONS
The city agrees to pay a brokerage conunission to licensed real estate
brokers, in an amount not to exceed 3% of the purchase price, provided
that such commission and the person to whom it is payable is specified
in that bid which is finally accepted by the city as the highest
responsible bid, and provided that the amount of any such bid shall be
determined net of any commission so specified. SUch real estate
commission shall be payable out of es=ow at the close of escrow.
12. ATIORNEY' S FEES
In the event that any legal action or litigation is urrlertaken by the
City to enforce the provisions of the bid offer or any subsequent
written agreement to execute such offer, the successful bidder agrees
to pay reasonable attorney fees incurred by the city.
13. BIDDING PROCEDURES
The followirg prcx:edure will be used in cooouctirg the sale of the
property herein.
(a) All written bids must be delivered to the city Clerk of the city
no later than 7:30 P.M. on the date of the biddirg session. The
Clerk will open the written bids at the conunencement of the
biddirg session which shall be 7:30 P.M. The biddirg session
shall be held in Conference Rooms C & D, city Hall.
(b) The Clerk will announce the highest written bid for Lot 187. The
criteria used to determine the highest responsible bidder will be
the bid which generates the highest net revenue to the City of
CUpertino. (Net revenue is defined as that amount to be paid to
the City after subtractirg the brokerage c:ommission, if any, from
the bid price.)
(c) Thereafter, oral bids for lDt 187 will be solicited. The first
oral bid shall exceed the highest written bid by at least
$5,000.00. Each subsequent oral bid must exceed the prior" oral
bid by at least $1,000.00. lIgain, oral bids may be made by
parties who have, or who have not, subnitted written bids,
provided, however, only those parties who have subnitted a
deposit either prior to the commencement of the oral bidding or
with a written bid will be allowed to participate in the oral
biddirg.
(d) Upon ~letion of the oral biddirg, the highest iOOividual
bidder and the secooo iOOividual bidder shall ilI1mediately cause
the bid to be reduced to writirg on the app¡:opriate fonn (Exhibit
"B").
(e) The Clerk will tentatively accept the high and secooo highest bid
for lDt 187, adjourn the biddirg session and deliver the two high
bids to the city Council. The City Council, in its sole
discretion, will resolve both the method of sale of the lot beirg
offered in a given round of biddirg and the respective successful
bidder .
Page 4/6
Res. No. 8948
'!he city council reserves the right to accept a bid which it
determines to be in the City's best interests. '!he city Council
also reserves the right to reject any am all bids am call for a
new biddin;¡ session.
(f) Final acceptance of the high bid for lDt 187 shall be made by the
City council. '!he Council will determine which bids are in the
best interests of the city.
(g) Upon final acceptance of the highest responsible bid for Lot 187
by the city council, the Purchase Contract (Exhibit "C") shall be
executed within three days of said acceptance am an escrow shall
be established by the successful bidder at Valley Title Co.,
10625 S. De Anza Boulevard, OIpert.ino, CA 95014. Escrow shall
close within thirty (30) days fram the date of executin;¡ the
Purchase Contract. At escrow closin;¡, l:uyer shall deposit in
cash with said escrow c::onpany an amount equal to the bid less
deposit plus all closin;¡ costs, loan fees, am any other costs
required to close the sale. Upon close of escrow, the city shall
receive the net cash amount as provided by the escrow offiœ.r am
the royer shall receive a grant deed to the property as provided
in paragraph 6.
14. REQUESI'S FOR ADDITIONAL FORMS AND m:x::EDURES
Additional Bid forms am copies of this Resolution which serves as the
instructions to bidders will be fOJ:warded to interested parties by
mail or telephone request. '!hose interested should write or call:
CITY OF CUPERrINO
Public Works Department
10300 Torre Avenue
OIpert.ino, CA 95014
Phone: (408) 252-4505
15. PUBLICATION AND rosrING
'!he city Clerk is directed to cause to be p1blished a notice of
intention to sell real property in a newspaper of general circulation
within the city of OIpert.ino for a period of four weeks prior to the
biddin;¡ session am is also directed to post the property with a =P'I
of said notice at least thirty (30) days prior to the bidding session.
PASSED AND AOOPl'ED by the city Council of the city of OIpert.ino,
this 7th day of September ,1993, by the following vote:
Page 5/6
AYES:
NOES:
ABSENT:
ABSI'AIN:
A'ITEST:
{sl Kim M. Smith
C~ty Clerk
Res. No. 8948
MEMBERS OF '!HE CI'IY roUNCIL
Dean, Goldman, Koppel, Sorensen, Szabo
None
None
None
APPROVED:
/s/ N~ck Szabo
Mayor, C~ty of CUpertino
Page 6/6
EXHIBIT A
PLAT MAP & DESCRIPTION
--
All that certain real property situated in the County of Santo Claro, Slole
of California, described os follows:
All of Lot 187. os shown on TRACT No. 8067, which was
filed for record in the Office of the Recorder of lhe County of SonIa Claro,
State of California. on February 25. 1988 in Book 583 of Mops, page 47,
48, 49, 50 and 51.
TRACT
NO.
8067
SPRINGS
-------~
DRI"£'
ORCHARD SPRING LN
~
~
SCALE: 1"=200'
189
SIIEET 1 OF 1
Res. No. 8948
EXHIBIT "B"
BID FORM - A roRITON OF SEVEN SPRINGS SUBDIVISION
'ro: CITY OF CUPERI'INO
city Clerk's Department
10300 To=e Avenue
CUpertino, CA 95014
1. 'mE UNDERSIGNED HEREBY PROroSES AND OFFERS 'ro PURŒASE LOr 187, AN
IMPROVED RESIDENI'IAL PROPERI"i WI'IHIN TRAcr NO. 8067 aHlDNLY KNa-m AS
"SEVEN SPRINGS SUBDIVISION".
CASH BID PRICE:
Bidder hereby tenders $
purchase of one lot.
If the successful bidder fails to conq:>lete the purchase in acx::ordance
with the specified terms, $15,000 of the deposit shall be forfeited.
represent:in;J a deposit for the
2.
Bidder' s Name
(Principal)
Entity
Irrlividual, Partnership, Corporation
Address
street
city
Night
state Zip Code
3. Telephone NlDI1ber: Day
4. 'I11e urx:lersigned bidder sul:tnits this bid subject to all the terns arrl
corrlitions of the Resolution of Intention to Sell Surplus Real
Property, dated 1993, arrl agrees to be bound
thereby .
Signature:
If partnership arrl/or corporation:
Title:
state of Incorporation:
B-l/2
Res. No. 8948
BROKER'S o::mISSION
'!he following information should be completed if a real estate commission
is to be paid to a duly licensed real estate broker in the event this
offer is accepted, SUch cammission is to be deducted from the stated cash
bid price to determine the net bid.
If this bid is finally accepted arxl sale of the property is COnstm1l11ëlted
in aocordance with the bid as provided in the resolution, City shall pay a
commission of Dollars ($ ).
said cammission shall not exceed three percent (3%) of the cash bid price
stated herein. '!he cammission is to be paid in accordance with the terms
of the Resolution dated
Real Estate Broker's signature:
Real Estate Broker's Name:
Broker's lIddress:
Bidder's signature:
Bidder's Name:
If Applicable:
Corrpany Name:
Title:
B-2/2
Res. No. 8948
EXHIBIT "c"
PURCHASE CONI'RAcr RæEIPl' FOR DEPOSIT
AND ESCRCM INSTRUCI'IONS
'Ihis Agreement dated this _ day of
between the city of CUpertino ("Seller") arxl
, 1993, is made by arxl
("Buyer")
REx::ITALS :
1. Pursuant to the appropriate provl.Swns of the California Govermnent
Code, Buyer has made a bid to purchase the property described herein
arxl Seller has accepted such bid,
2. Seller has received from Buyer the SlD11 of
dollars, $ ("Deposit") evidenced by a certified or
cashier's check payable to the CITY OF CUPERl'INO, as a deposit on
aœount of purchase of that certain real property situated in the City
of CUpertino, County of Santa Clara, state of California, described as
IDt 187 ("Property") of Tract No. 8067 as shown on the map filed
February 25, 1988 in Map Book 583, Pages 47-51.
N<M, 'lliEREFORE, the parties hereto agree as follows:
1. Agreement of Purchase arxl Sale
SUbject to the tenns arxl comitions as set forth herein, Seller shall
sell arxl Buyer shall purchase the property for a total purchase price
of $
2. Payment of Purchase Price
'Ihe purchase price for the property shall be paid as follows:
2.1 Buyer has already paid Seller a deposit of $
2.2 No later than thirty days after this agreement is executed Buyer
shall deposit with the EscrC7tl Holder for delivery to Seller at
close of escrC7tl, cash or a certified or cashier's check made
payable to Valley Title Company in an æoount of $
(the full amount of the purchase price less deposit) plus closing
costs necessary to close escrC7tl. In the event that Buyer fails
to deposit the total cash required within the tÍlne specified,
Seller shall retain $15,000.00 of the previously paid deposit.
'Ihe tÍlne specified may be extended by mutual agreement between
Buyer and Seller.
3. 'Ihe Closing of Sales Transaction 'Ihrough EscroIrl
3.1 'Ihe purchase arxl sale of the property shall be completed within
thirty (30) days after executing this Purchase COntract Receipt
for Deposit.
C-1/3
Res. No. 8948
'Ihe closing of the sale shall be through an escrOti to be opened
at the follOtiing title ccimpany ("EscrOti Holder"):
Valley Title Co.
10625 SO. De Anza Boulevard
CUpertino, CA 95014
3.2 Instruments in respect to the purchase and sale shall be
deposited in escrOti by Buyer and Seller as follows:
(a) Seller shall deposit, prior to close of escrOti, a grant deed
duly executed by Seller in recordable form.
(b) Buyer shall deposit cash or a certified or cashier's check
for the amount required to close escrOti pursuant to
Paragraph 2.2 of this agreement.
4. Notices
Any notice, request, demand, instruction or other communication to be
given to any party hereunder shall be in writing and delivered
personally, or sent by registered or certified mail as follows:
Seller: CITY OF CUPERI'INO
city Clerk
10300 Torre Avenue
CUpertino, CA 95014 .
Buyer:
Notice shall be deemed to have been given when delivered personally or
two days after mailing to the above address if mailed. No notices
shall be effective unless am until persons entitled to notice have
been notified in acx:ordance with the foregoirq. '!he addresses for
purposes of this paragraph may be changed by giving written notice of
such change in the manner provided herein for giving notice. unless
and until such written notice is received, the last address and
addressee as stated by written notice, or as provided herein if no
written notice of change has been sent or received, shall be deemed to
continue in effect for all purposes hereunder.
5. Further Assurances
Buyer and Seller agree that at any time, or from time to time after
the execution of this l\greement am whether before or after the close
of escrOti they will, upon request of the other, execute am deliver
such dOClD11ents am do such further acts am things as such party may
reasonably request in order to effect fully the purposes of this
Agreement.
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Res.· No. 8948
6 . SUrvival of covenants
Each of the awenants arrl agreements contained herein shall, to the
extent applicable , survive the close of es=ow.
7. SuC<X''''sors arrl Assigns
'Ibis Agreement shall be biOOing upon arrl inure to the benefit of each
of the parties hereto, arrl to their respective successors arrl assigns.
8. Captions
'!he captions in this Agreement are inserted only as a matter of
convenience arrl for reference arrl in no way define the s=pe or extent
of this Agreement or the construction of any provisions herein or of
any document or instrument referred to herein.
9. Time
Time is of the essence in this Agreement.
10. Entire Agreement; Amerximents
'!his Agreement embodies the entire Agreement arrl urrlerstaOOing between
the parties relating to the subject matter hereof arrl may not be
amerrled, waived or discharged except by an instrument in writing
executed by the party against which enforcement of such amerxhnent,
waiver or discharge is sought. '!his agreement supersedes all prior
agreements arrl memorarrla. '!he invalidity of any one of the awenants,
agreements, conditions or provisions of the Agreement, nor any portion
thereof, shall not affect the remaining portions thereof or any part
hereof arrl this Agreement shall be construed as if such awenant,
agreement, condition or provisions had not been inserted herein.
11. Attorney's Fees
Should any suit be brought to enforce the terms of this Agreement or
any obligation herein expressed, the prevailing party shall be
entitled to reasonable attorney's fees, costs arrl expenses herein
incl=ed.
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