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.
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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.
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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
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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
.
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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".)
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(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
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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
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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.
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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
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~ Address
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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: ~
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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
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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
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~ 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.
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j 3. The Closinq of Sale Transaction T}~rouqh Escrow
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3.1 The purchase and sale of the property shall be
completed within thirty f30) days after
executing this Purchase Contract Receipt for
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' 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:
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(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
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Buyer: • • ,
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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.
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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.
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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
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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.
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~ 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.
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