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CC Resolution No. 6471 ~ ~ . RESOLUTION i~0. ~""71 RESOL[JTIOtd OF THE CITY COUNCIL OF THE , CITY QF CUPERTINO DECLARING ITS INTENTION TO SELL SURPLUS REAI, PROPERTY wiiEREAS, the City of Cupertino, hereinafter referred to as "City" is now the owner of that certain real property and office building which is located at 10075 Pasadena Avenue, Cupertino, California, and more particularly descr'ibed in Exhibit "A," attached hereto and incor- porated herein. wHEREAS, said property is not needed for any govern- ; mental purpose and that it is the judgment of the City . , Council of the City of Cupertino, for the begt interests of the City, that said property be sold to the highest I responsible bidder or bidders under the authority of I Section 37350 et seq. of the Government Code of the 'i State of California. WHEREAS, the City has complied with all the legal requirements established for the sale of surplus praperty including the requirements specified in Section 54220 et seq. af the Government Code of the State of ~ California. NOw, THEREI'ORE, it is hereby determined and ordered that said propert}~ shall be offered for sale under the following terms and conditions: 1. BIDDING DATES The City of Cupertino shall offer for sale one (1) ; improved commercial lot and office building. The j bidding session is to be held on ~/I'~ , 1985 at 7:)0 ( P.M, in the Conference Room of the City Hall, 10300 ~ Torre Avenue, City of Cupertino. ~ 2. 4dRITTEN IIIDS Written bids shall be presented on the Bid Form as shown in Exhibit "B." Sidders can use the attached form or obtain additional copies of the Bid Form as noted in Paragraph 13 of this Resolution. The Sid c^orm must be received by the City Clerk of the City before ~'-s~~ P.M. C.C.4.0 1 ' 1 on the date • the bidding sessions. T• Bid Form should be completed and placed in a sealed envelope ~ along with the appropriate deF~usit as described in Paragraph 5. The outside of the envelope should state that it is a"SEALED BID" and should also disclose the ~ number of lots to be bid upon. The bid can be mailed or hand carried to the City Clerk, City of Cupertino, 10300 Torre Avenue, Cupertino, California. Mailed bids should be placed in a second envelope and addressed accordingly. 3. MINIb1UM BIDS The minimum acceptable written bid shall be S~i,.~~nn All bids submitted must be cash bids. Bids for less than the minimum bid amount will be rejected. ' a. TEaris . ' Bids shall consist of an unconditional offer to purchase the lot and building for cash, payable in full, in cash, cashier's or certified check at the close of escrow. A successful biddez shall be given three (3) days after acceptance of bids to execute a purchase contract (cxhibit "D") and thirty (30) days thereafter to close ( eacrow unless extended by writter. mutual consent of the i parties. 5. DEPOSIT ~ (a) Amount of Deposit All submitted written bids must be accompanied by a certified or cashier's check in the amount of 55,000.00. Said deposit should be made payable to the City of Cupertino. (b) Deposits Required of Oral Bidders Those individuals or entities planning on participating in the oral bidding but who have not submitted a written bid with deposit shall be required to tender rp ior to the commencement of the oral bidding, a deposit amounting to ten thousand dollars (510,000.00). Said deposit must be in the form of a certified or cashier's check made payable to the City of Cupertino. C.C.4.0 2 ~ ~ s . All bidders who have sub~nitted a 55,000.00 deposit • with a written bid which complies with the terms ~ herein, shall not be required to submit any additional funds to participate in the oral bidding, (c) Forfeiture of Deoosit In the event a bid is accepted and the bidder fails, within the time allotted her~in, to execute any documents related to the sale, including the ~urchase contract, or otherwise does not perform a~ccording to the terms of the bid, then said bidder will forfeit an amount equal to $5,000.00. The difference, if any, remaining after subtracting the ' 55,000.00 forfeiture from the original deposit will ' be refunded to bidder upon the determination that ' bidder does not desire to consummate a sale. I (d> Return of DeQOSits ~ Deposits of unsuccessfu]. bidders will be returned after the City's final ar_~eptance of the successful bid, but in no case, wili such period extend beyond ten (101 days after the bidding session. No in- terest shall be paid by City on any deposits. 6. TITLE AND CONDITION OF 1'FiE PREMISES • Title to the property shall be conveyed by Grant Deed ' subject to all liens, encumbranc~s, or other cloud on , title which may affect the property. A copy of the preliminary title report is available at the City ~ Offices, (Department of Public Works) 10300 Torre Avenue, Cupertino, California. P:ior to the bidding date, any prospective bidder is granted tne right to inspect the lot and building by contacting the Director of Public Works. The lot and building are to be sold in an "AS I5" condition and the City makes no warranty express or implied as to the condition of the premises or its fitness for any particular purpose. Said propert}• is taken subject to e:cisting zoning and other land use restrictions imposed by the City of Cupertino. Prospective bidders are encouraged to contact the City Planning Department, prior to the bid date, in order to determine the nature and extent of those restrictions. 7. ACCEPTANCE OF BIDS C.C.4.0 . 3 ~ ~ i • The accepted bid, this Resolution and exhibits thereto ~ and the executed Puzchase Contract (Exhibit ) shall constitute the contract of purchase in accordance with the terms outlined in said documents. The City Council of the City of Cupertino reserves the right to accept a bid or bids which in its sole discretion deems to be in the City's best interest. The City Council of the City of Cupertino reserves the right to reject any and all bids, waive any irregularities, be the sole judge of the responsiveness of the bids and to determine which bid or bids ronstitute the greatest return to the City. 8. CLOSE OF ESCROW The transaction shall be consummated through an esc`°e Titlc Co., to be opened by the buyer (successful bidder) at Y S. ue<lnza i~,~, _(address). All escrow and other costs including title insurance, any taxes, charges, or ~ fees assessed by local, state, or federal governments as a result of the subject property transfer, shall be borne by the buyer. . 9. POSSESSION ' The City shall turn over possession of the premises to the purchaser at the close of escrow. The City shall ^ maintain existing insurance coverage on the property t' prior to close of escrow. The successful bidder may have reasonable access to the premises for the purpose of studies related to the development or use of the property prior to the close of escrow. The successful bidder will hold the City harmless for any damage to, or loss of, personal property, or personal injury incuzred by the successful bidder, or representatives, agents or employees of the bidder, should such damage, loss or injury occur on the subject property so long as the City retains ownership and occupancy of the property. 10. REAL ESTATE BROKERAGE COb'1b1I~ S The City agrees to pay a brokerage commission to licensed real estate brokers, in an amount not to exceed 32 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 . C.C.4.0 4 . ^ so specifie~ Such real estate commiss~n shall be • payable out of escrow at close of escrow. • 11. ATTORNEY~S FEES In the event that any legal action or litigation is ' undertaken by the City to enforce the provisions of the ' bid offer or any subsequent written agreement to execute ' such offer, the successful bidder aqrees to pay reasonable attornev fees incurred by the City. I 12. ',BZDDING PROCEDURES , The following procedure will be used in conducting the 'I sale of the property herein. i fa) All written bids must be delivered to the City ~ Clerk of the City no later than P.M, on the ' date of the bidding session. The clerk will open ' the written bids at the commencement of the bidding ' session which shall be 7:1o P.M. The bidding ' session shall be held in the Conference Room at the City Hall. (b) The Clerk will announce the highest written bid. The criteria used to determine the highest rnsponsible bidder will be the bid which generates 1 the highest net revenue to the City of Cupertino. ' fPiet revenue is defined as that amount to be paid to the City after subtracting the brokerage commission, if any, from the bid price.) (c) Thereafter, oral bids will be solicited. The first oral bid shall exceed the highest written bid by at least 52,000.00. Each subsequent oral bid must exceed the prior oral bid by at least SS00.00. Again, oral bids Ray be made by parties who have, or who have not, submitted written bids, provided, however, only those parties who have submitted a deposit either prior to the commencement of the oral bidding or with a written bid will be allowed to participate in the oral bidding. (d) Upon completion of the oral bidding, the highest individual bidder and the second individual bidder shall immediately cause the bid to be reduced to writing on the appropriate form (Exhibit "B".) C.C.4.0 5 ~ 1 ' ~ ~ (e) The Clerk will tentatively accept the high and second highest bid, adjourn the bidding 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 being offered in a given round of biddinq and the respective successful bidder. The City Council reserves the right to accept a bid which it determines to be in the City's best interests. The City Council also reserves the right to reject any and all bids and ' ~~all for a new bidding session. (f) Final acceptance of the high bid shall be made ' by the City Council. The Council will determine which bids are in the best interests of the City. (g) Upon final acceptance of the highest responsible , bid by the City Council, the Purchase Contract ' (Exhibit "C") shall be executed within three days ; of said acceptance and an escrow shall be established 'oy the successful bidder at vallev Title Co., c~i S. DeAnza Divd., Cunertino. CA. Escrow shall close within thi- r~ty- ; (30) days from the date of executinq the Purchase I Contract. At escrow closinq, buyer shall deposit i in cash with said escrow company an amount equal to the bid less deposit plus all closinq costs, loan ~ fees, and any other costs required to close the sale. Upon close of escrow, the City shall receive the net cash amount as provided by the esczow . officer and the buyer shall zeceive a qrant deed to the property as provided in Paraqraph 6. 13. REQUESTS FOR ADDITIONAL FORMS AND PROCEDURES , Additional Bid forms and copies of this Resolution which i serves as the instructions to bidders will be forwarded ~ to interested parties by mail or telephone request. Those interested should write or call: ' CITY OF CUPERTINO • P.O. Box 580 . Cupertino, CA 95014-0580 Fhone: (408) 252-4502 14. PUBLZCATION AND POSTING The City Clerk is directed to cause to be published a notice of intention to sell real property in a newspaper C.C.4.0 ~ ' 6 ^ of general ~rculation within the City ~ Cupertino for . a period of four weeks prior to the biddinq session and is also directed to post the property with a copy o£ said notice at least thirty (30) days prior to the bidding session. PASSED AND ADOPTED by the City Council of the City of Cupertino, this 17thday of 19 t~, by the following vote: PIEMBERS OF THE CZTY COUNCIL : AYES: Gatto, Plungy, Rogers, Sparks, Johnson , ~ ' NOES: None ' ABSENT: None ' ABSTAIN: None . i , APPROV ~~f ~ r; ~ `>~,,,t,~ i May r, ~i of Cupertino ATTEST: / ~ Ci Clerk I i ~ i { ~ C.C.4.0 7 ' r~ ~ ~ ~ ' ian'rsit u~rii,rrv i~uuria~rv AI I II~nL i•rrL•tln r~nl ~ir~q~r~-ly ^•~luakr 'n lhr ( Ily ~if Cu~~ertlno, Cc~unCy r,( ;;i~un (;)nr~, S~nte a( (:n)Ifarnln, mnrz ~+nrtlciilarly described ae f~~lt~~wti: AI l~,f L„t . lh nn~l I i c~f Itlc~i•Ic i:~~; c;h~nrn u~~oit th~C c~.rrk~in P1:ip of S~~h~l l v i~:1 ~,n l, 'f~~wn i,f Pinnl n V i s t n, wh l rh tt~p w~R rccorded in 8ook ~~ht~~ nf Pla~~; ~t I'n{;c 4, Snnln Clnrr~ County Records. , k ' ~ r~,~~~~ t~~c~c~_ ~z ~ - - - - I - - - u, u~ > ~ • ~ ( _ _ , ~ Q i •i ' rl : ' ' i _ i 3 O' ' ~ + \\'n- i - U • ~ ~ ~ ~ 5 _ - - - ,~o~ r`ittn~ In17/~ /~`!E ~i~ E%lU( r: ~1 '1 ~LOCK ~ r, 1 ' J 1U ~ r.1 ' lt ~ ' ~ < . Q r.~t~' ~)1 ~th .t . ~l'(" li • ~ C~ ~ ~ -tU-~ ~ ` , ' ' ~i~ • 1 ' 1 ~ ~ d~, ~ ~ C.C.4.1 EXHIBIT "D" BID FORM - 10075 PASADENA AVENUE T0: CITY OF CUPERTINO 10300 Torre Avenue Cupertino, CA 95014 1. THE UNDERSIGNED HEREBY PROPOSES AND OFFERS TO p~.~RCHASE LOT OF IMPROVED COMb7ERCIAL TOGETHER WITH A SMALL OFFICE HOILDING COMMONLY KNOWN AS 10075 PASADENA AVENUE, CUPERTINO, CALIFORNIA. ' CASH BID PRICE: . Bidder hereby tenders S representing a deposit for the purchase of said property. I Zf the successful bidder fails to complete the purchase in accordance with the specified terms, $5,000.00 of the deposit shall be forfeited. 2. Bidder's Name tPrincipal) ~ Entity ~ Individual, Partnership, Corporation i ~ Address ~ i City, State, Zip Code i ~ ~ 3. Telephone number: Day: Night: ` 4. The undersigned bidder submits this bid subject to ~ all the terms and conditions of the Resolution of Intention to Sell Surplus Real Property, dated 19 , and agrees to be bound thereby. Signature: Zf partnership and/or corporation: Title: State of Incorporation: ' BROKER'S CODIMISSION The following information should be completed if a rea2 estate commission is to be paid to a duly licensed real estate broker in the event this offer is accepted. Such commission is to be deducted from the stated cash bid ;1 price to determine the net bid. ~ ~ If this bid is finally accepted and sale of the property ~ ~ is consummated in accordance '~+ith the bid as orovided in ~ ~ne resolution, City shall pay a commission of Dollars .00). Said commission shall not exceed three percent (3~) of the cash bid price stated her?in. The commission is to be paid in accordance with the terms of tne Resolution dated Real ~state Broker's Signature: Real Estate Broker's Name: Broker's Address: Bidder's Si nature: 4 i Bidder's Name: I ~ If applicable: Company Name: Title: ~ ^ ~ ~ • EXHZBIT "C" PURCHASE CONTRIICT ftECEZPT FOR DEPOSIT AND ESCROW INSTRUCTIONS This Agreement dated this day of , 19 , is made by and between the CITY OF CUPERTINO ("Seller") and ("Buyer"). I RECITALS: ' 1. Pursuant to the appropriate provisions of~the I California Government Code, Buyer has made a bid to purchase the property described herein and Seller has ~ accepted such bid. 2. Seller has received from Buyer the sum of: Dollars, S ("Deposit") evidenced by a certified or cashier's check payable to the CITY OF CUPERTINO, as a deposit on account of purchase of that certain real property situated in the City of Cupertino, County of Santa Clara, State of California, described as Lot(s) ( "Property" ) of tdo. ~ as shown on the map filed , 19 in Map Book tI , Pages 4 NOW, THEREFORE, the parties hereto agree as follows: ..ti 1. Aareement of Purchase and Sale ~'1 C.C.4.0 1 Subject to t~ terms and conditions as~t forth hcrein, Seller shall sell and Buyer shall purchase the property ' for a total purchase price of S 2. Pavment of Purchase Price The purchase price for the property shall be paid as follows: 2.~•, Buyer has already paid Seller a deposit of S ' 2.2 No later than thirty days after this agreement 'i is executed Buyer shall deposit with'the Escrow I~i Holder for delivery to Seller at close of I~, escrow, cash or a certified or cashier's check made payable to Title I Company in an amount of S (the full amount of the purchase p:ice less n deposit) plus closing costs necessary to close escrow. In the event that Buyer fails to ~ deposit the total cash required within the time i ~ specified, Seller shall retain 55,000.00 of the previously paid deposit. The time specified may be extended by mutual agreement between IIuyer and Seller. I j 3. The Closinq of Sale Transaction T}~rouqh Escrow I 3.1 The purchase and sale of the property shall be completed within thirty f30) days after executing this Purchase Contract Receipt for ~ C.C.4.0 2 n ' Dep•it. The closing of the ~e shall be ' through an esczow to be opened at the following ' title company ("Escrow Holder"): ~ V~illcy "I'iUc Co. : IOh'l.5 b. U~~ An::ri C~~ulevard li CupeC[ino, (:A 9i014 I i 3.,2 Instruments in respect to the puzchase and sale I i shall be deposited in escrow by Buyer and Seller as follows: ~I (a) Seller shall deposit, prior to'close of escrow, 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 i> close escrow pursuant to Paragraph 2.2 of this agreement. 8. Notices Any notice, request, deman~i, 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: 5eller: CITY OF CUPERTINO P.O. Box 580 Cupertino, CA 95014-0580 C.C.4.0 3 ~ Buyer: • • , ~ Notice shall be deemed to have been given when delivered ~ personally oz two days after mailing to the above address~if mailed. No notices shall be effective unless and until all persons entitled to notice have been ' notified in accordance with the foregoing. The addresses and addresses for purposes of this paragraph I 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 foz all purposes hereunder. 9, Furthez F,ssurances IIuyer and Seller agree that at any time, or from time to time after the execution of this Agreement and whether before or after the close of escrow they will, upon request of the other, execute and deliver such documents and do such further acts and thinas as s~ch party may reasonably request in order to effect fully the purposes of this Agreement. ~ C.C.4.0 4 ~ 10. Survival•of Covenants • . Each of the covenants and agreements contained herein shall, to the extent applicable, survive the close of escrow. 11. Successors and Assiqns This Agreement shall be binding upon and inuze to the benefi~t', of each of the parties hereto, and to their respective successors and assigns. 12. Captions II The captions in this Agreement are inserted only as a I I matter of convenience and for reference and in no way ' define the scope or extent of this Agreement or the I i construction of any provisions herein or of any document I l or instrument referred to herein. ~ 13. Time Time is of the essence in this Agreement. 14. Entire Aqreement; Amendments This Agreement embodies the entire Agreement and understanding between the parties relating to the subject matter hereof and may not be amended, waived or discharged except by an instrument in writing executed by the pazty against which enforcement of such amendment, waiver or discharge is sought. This agreement supersedes all prior agreements and memoranda. The invalidity of any one of the covenants, agreements, conditions or provisions of the Agreement, nor ~~ny 1 C.C.4.0 5 portion there~, shall not affect the r~ining portions ' ' thezeof or any part hereof and this Agreement shall be ~ ' construed as if such covenant, agreement, condition or provision had not been inserted herein. 15. Attorney's Fees Should any suit be brought to enforce the terms of this Agreemekt or any obligation herein expressed, ti~e prevailing party shall be entitled to reasonable I attorney's fees, costs and expenses herein incuzred. I i ~ ~ I ~ ! ~ c.c.4.o 6 ~ ~ • ~ WAl'lili U'CII,I'I'S' I'IiUPIiR7'Y AII lh;it rrrt:tln r~:il prn~~rrly ,Ita~te In the Cily oF Cupertlno, County uf ti;~nl.a Cl;ir:~, Stnte of Callfornln, mure p~rtlcularly described ns f~illciw~;: AII <~f LoC~; 14 nn~l 15 of Itl~x•k 1:~s r;hrnan npo? lliat certntn Nnp of Sab~livlnlnn l, 'Pnwn o( Plnntn Vlsta, whl~•h r~:,~ w~5 recorded in Ilook "P1" ~~f Ma~,~; ~t Pnqe 4, Santn Cinra County Recotdq. , ' . ~ ~ ~l(tr.l~: B~UCw '2 ~ ~ - - - - - I - - - W lu > . _ ~ _ - ~ ~ ~ ~ 3 0' i i ~ ' r ~ 14 .o \ o Ifn N ~ 5 N _'_._i~0' !^I ~l t 1!~ 1 1/~ n~/E I _ _ 1 1 ; ~u BLOC.t: ~ .L e,I.OGK .-ri 7 I UI ~ f.1 11~ ~ .;c~ ~ ~ `~r • v~l ..,1'~ ~ ~~r_,~ ~i , ` , Ff•, I\ -tC''rJ r/' ' I"=1 DD'