CC Resolution No. 6472 I
~I ~ e .
.
C ' ~SOLUTION 2:0. ~~h7:!
i
' RESOLUTION OF THE CITY COUNCIL OF THc
~ CITY OF CUPERTINO DECLe1RiNG ITS INTENTION
~ 20 SELL SURPLUS REAI, PROPERTY
~
, WHEREAS, the City of Cupertino, hereinafter referred to
' as "City" is now the owner of that ceztain real property
~ which is located at si,:,~I~,~,~I,; 1 i i,;,n~, , Cupertino,
Californi,a, commonly known as 3 Oaks Park subdivision,
' and more particularly described in Exhibit "A," attached
hereto and incorporated herein.
' WFiEREAS, said property is not needed for park purposes
or for any other governmental purpose and that it is the
judgment of the City Cauncil af the City of Cupertino,
for the best interests of the City, that said property
be sold to the hiqhest responsible bidder or bidders
under the authoricy of Section 37350 et seq. of the
' Government Code of the State of California. '
hi3EREAS, the City has complied with a11 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, THEREFORE, it is hereby determined and ordered that
_ said property shall 6e offered for sale under the
following terms and conditions:
1. BIDDING DATES
The City of Cupertino has subdivided a portion of the
Three Oaks Park site and shall offer for sale seven (7)
improved residential lots, The bidding session is to be
held on 2/1~~ , 1965 at 7:~o P,M, in the Conference
Room of the City Hall, 10300 Torre Avenue, City of
Cupertino.
2. t4RITTEN 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 Fozm as noted in
Paragraph 13 of this Resolution. The Sid Form must be
C.C.4.0
1
„1
received by e City Cl~rk o~ the City ore i:tt> P.M.
on the date~ the bidding sessions. T Bid Form .
should be completed and plac~d in a sealed envelope
alonq with the appropriate deoosit as desczibed in `
Paragraph 5. The outside of the en~elope should state
that it is a"SEAL~D 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. MINIMUM BZDS
r--
The mihimum acceptable written bid shall be ;HU.oo~~
for the first of seven t7? lots offered. All bids
submitted must be cash bids. Bids for less than the
' minimum bid amount will be rejected. With respect to
' each of the remaining six (6) lots to be sold, the
j minimum hids shall be made at the bidding ses§ion and
shall be, in each case, an amount equal to the highest
bid for the lot sold immediately preceding the lot
offered.
4, TERMS
~ Bids shall consist of an unconditional offer to puzchase
a lot for cash, payable in full, in cash, cashier's
or certified check at the close of escrow. A successful n
bidder shall be given three (3) days after acceptance of
bids to execute a purchase contract (Exhibit "D") and
thirty (30) days thereafter to close escrow unless
extende8 by written mutual consent of the parties.
5. DEPOSIT
(a) Amount of Deoosit
All submitted written bids must be accompanied by a
certified or cashier's check in the amount of
55,000.00 per lot to be purchased. Said deposit
should be made payable to the City of Cupertino.
( b) t~umber of Deoos i ts
An individual or entity may submit written bids for
one or more lots offered at the bidding session.
The amount of the deposit needed to accompany a
C.C.4.0
2
.
~
~ writt~ tiid(sl should cyual $5,00~ 0 per lot. An •
• indiviZGal or entity ~:ho is an uns'~ccessful biddez
with resp~ct to any c:i.ven bidding round, may apoly
~ his/her deoosit to any ~ubsequent bic3ding round.
If any individual or entiry desires to purchase
more than one lot, the submitted written bid should
denote the number of lots desired to be purchased
along with a deposit amounting to 55,000.00 for
each lot which the individual or entity desires to
purchase. A bidder who has submitted a deposit for
one lot and is the successful high bidder on one of
' the offered lots, will not be permitted to bid on
any subsequent lots offered unless the bidder has
; ~'.tendered additional deposit monies prior to the
; commencement of the oral bidding as defined in
Paragzaph 5(c) of this Resolution. A bidder who
; has submitted a deposit on twe lots can continue to
bid on lots offered until two successful bids have
oeen made on two lots. A bidder who has submitted
a dep~sit of 535,000.00 with his written bids can
; participate in the bidding for all 7 lots. All
bidders have the right to increase their deposits
1 at the biddinq session in accozdance with the terms
; outl~ned in Paragraph 5(c) of this Resolution.
I
i (c) Deoosits Required of Oral Bidders
Those ir.dividuals or entities planning on
participating in the oral bidding but who have not
submitted a written bid with deposit shall be
requireci to tender rp ior to the commencement of the
oral bidcing, a deposit amounting to ten thousand
dollazs (510,000.00) per lot to be bid upon. 5aid
deposit must be in the form of a certified or
cashier's check made payable to the City of
Cupertino. If the bidder desires to bid on two
lots durir.g the oral bidding, a deposit in the
amount of S20,000.00 is required. Three, four,
five, six or seven bid opportunities require a
deposit of 530,000.00, $40,000.00, 550,000.00,
560,000.00 and $70,000.00 respectively.
All bidders who have submitted a 55,000.00 deposit
~ per lot with a written bid(s) which complies With
f the terms herein, shall not be required to submit
; an}~ addiCional funds to participate in the oral
i bidding unless that bidder desires to increase
C.C.4.0
3
. y _ - ~
" 1
~ .
i
j t~i~ir de:~i; monics in o: -cr to pur~se .
~ additional lot~. , n
td> I'orfeiture of D~~aosit
In the event a bid is accerteci and thc bidder
£ails, within the time allotted herein, to execute
any documents related to the sale, including the
purchase contract, or otherwise does not perform
according to the terms of the bid, th~n said bidder
will forfeit an amount equal to $5,000.00 for each
'~lot successful bid upon and subsequently not
p~lrchased. The difference, if any, remaining after
sub~tzacting the 55,000.00 per lot forfeiture from
the original deposit will be refunded to bidder
~ upon the determination that bidder does not desire
i to consummate a sale.
(e) Retuzn of Deoo~its
D~posits o; unsuccessful bidders will be returned
' after the City's final acceptance of the successful
' bid, but 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.
' 6. TITLI:
~
Title to the property shall be conveyed by Grant Ueed
subject to all liens, encumb:ances or other cloud on
title which may aPfect the propert~. A cop}• of the
preliminarp titlc report i~ available at the City
Of°ices, (Depactment of Public horksl 10300 Totze
Avenue, Cupertino, California.
Ilir l.rnn.(rr ~~f .in~ i~~l ~in~li•r lli~• ~>rnvl~.i~~u~; ul' lliiti rr~:~~lul i~,i~ is
r:iihjrct :ill r~•~.I rirl i~~n~, im~~n..~•~l b~• I Vn Cily ~~f Cupcflinu iir
rlu~llnp, Inii I~liiy; i imil.~l inn ~~f nn~• tilnry.
' 7, ACCI:i":'At:CE OF $1DS
Th~ accepted bid, this Resolution and exhibits th^rr~to
and the ~xecuted Purchase Contract (E>:hibit ) shali
constitut=e the contr~c: of purchase in ~ccord~nc~ wi:h
the tr_rms outlir,ed in said tiocuments. The City Council
of the City of Cupcrtino reserves the right to accept a
bid or bids which in it> sole discreLion deems to be in
the Citp's best interest. The City Council of the City
of Cupertino r~~serv~s the ri4ht to reject any anc3 ~11
bids, ka:v~ an}• irzeqularities, b= the sole judae of the
r^:pOn5lv~ne5s of the bids and to det~rmine which bid or
bids cons~itute the gr~atest return to the City:
. t
C.C.4.0 _
.
4
. ~ ~
8. CLOSE OF ESCROW
The transaction s4a11 be consummated through an escrow
to be opened by the buyer (successEul bidderl at Voiicy'C.i~~let:o.,
-:i s. ue Anza isLvd., a~~~.~riin~~, r,n (address). All escrow and.other ~
costs including title insurance, any taxes, charges,~oz
:ees assessed by local, state, or federal governments as
a result of the subject property transfer, shall be
borne by the buyer,
9. POSST ESSION
The City shall turn over possession of the pzemises to
the purchaser at the close of escrow. The City shall
, maintain existing insurance coverage on the property
' prior to close of escrow. The successful bidder may
'i have reasona6le access to the premises for t~e purpose
'i of studies related to the development of the property
i prior to the close of escrow. The successful bidder
' will hold the City harmless for any damage to, or loss
' of, personal property, or pezsonal injury incurred by
I the successful bidder. or•representatives, agents or
' employees of the bidder, should such damage, loss or
I injury occur on the subject property so long as the City
; retains ownership and occupancy of the property.
i
10. REAI, ESTATE BROKERAGE COMMISSIONS
The City agrees to pay a brokerage commission to
licensed real estate brokers, in an amount not to exceed
38 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 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 success:ul bidder agrees to pay
reasonable attorney fees incurred by the City.
C.C.4.0
5 -
~
~
~ 12. BIDDI2~ ROCEDURES ~ ,
I
The following procedure will be used in conducting the
sale of the property herein.
(a) All written bids must be delivered to the City
Clerk of the City no later than 7:~~~ 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:]0 P,M. The bidding
session shall be held in the Conference Room at the
City Aall.
~
(b) ~The Clerk will announce the highest written bid for
~ the first lot. The criteria used to determine the
I 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 subtracting the
brokerage commission, if any, from the bi'd price.l
(c) Thereafter, oral bids for the first lot will be
, solicited. The first oral bid shall exceed the
highest written bid by at least 52,00~.00. Each
! subsequent oral bid must exceed the prior oral bid
by at least $500.00. Again, oral bids may be made
' by parties who have, or who have r.ot, 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 zeduce3 to
writing on the appropriate form (Exhibit "B",)
(e) The Clerk will tentativelv accept the hiah and
second hiqhest bid, adjourn the biddina 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 aiven round of bidding and the :espective ~
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
C.C.4.0
6
n
~ reserv the right to reject any a~ all bids and ,
call for a new bidding session.
~
(f) Final acceptance of the high bid for any lot shall
be made by the City Council. The Council will
determine which bids are in the best interests of
the City.
i (g) The individual or entity submitting the highest
responsible bid (whether written or oral) for the
' first lot offered shall purchase the lot (among the
'i seven t7) offeredl of his/her choice.
' (h) Thereaf ter, the high bid for the first lot shall
become the minimum bid for the next lot to be
' purchased. Zf no minimum bid is received, the
Clerk shall terminate t4e bidding session.
I (i? If a minimum bid, as described in Paraqraph E, is
' received, then bidding continues for the second lot
in the same manner.
i
, (j) The remaining 5 lots shall be sold in the same
' manner as described in the preceding paragraphs
I with the minimum bid for each remaining lot being
, the highest bid of the previous round and with the
I~ highest bidder in each round being obligated to
i purchase the lot of his/hez choice among those lots
remaining.
, tk) Upon final acceptance of the highest responsible
I'i bid for each lot by the City Council, the Purchase
Contract (Exhibit "C") for each lot shall be
; executed within three days of said acceptance and
I an escrow shall be established by the successful
biddei at V:~llo~~ l'iiir cu.. In(,,'i 5. n~~ ,1nz,~ Llv~l., Cupcrttno, CA.
, r•.scrow sh.~ll close within thirty ( 30 ) days from the date of
, executing the Purchase Contract. At escrow
closing, buyer shall deposit in cash with said
escrow company an amount equal to the bid less
deposit plus all closing 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 escrow officer and the
; buyer shall receive a grant deed to the property as
,
' provided in Paragraph 6.
i 13. REQUE5T5 FOR ADDZTIOhAL FORMS AND PROCEDURES
C.C.4.0
i 7
~ ~
~
I~
~ ~ ' .
Additional Bid forms and copies of this Resolution which '
, 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 Phone: (408) 252-450~
14. PUBLICATIQN AND POSTING
The Gity Clerk is directed to cause to be published a
notice of intention to sell real property in a newspaper
of general circulation within the City of Cupertino for
a period of four weeks prior to the bidding session and
is also directed to post the propezty with a copy of
said notice at least thirty (30) days prior to the
' bidding session. '
' PASSED AND ADOPTED by the City Council of the City
I of C upertino, this llch day of December , 19 84 , by
i the following vote:
61EbiHERS OF TAE CITY COUNCIL
AYES: Gatto, Plungy, Rogers, Sparks Johnson
NOES: None
~ ~
' ABSENT: None
I
. ABSTAIN: None
APPROV~ ~
~ ~ /
j' ~ ~ ?
' v ~t~v
Ma+~or, k of Cupertino
ATTEST:
Ci , Clerk ,
C.C.4.0
8 ,
.
~
~ ~
iuiiitr nnks ;;uitinivisi~~ti
All Ih;il ~•orlnln r~~nl ~~rn~~orly r:llu;~tc fn Ihr I:Ity t~f Ciipcrtlno, Connly
nf ti;nil n(:l~~r~, StnCe of C;il i forntn, more p~r[Ic~ilarJ.y descrlbed ns
fulluwr,: ~
All nl L~~l~; I Il~rnti~;li 1 n^ r:l~nwii npnii Ili:~t ~'~•rltiln 'ICrlct tJn. G~12I. I'I~[c~
Onk.^, tinh~livlr~lun, wlilrh m;i~~ w:u: r~~i•ordi~~l In linok 490 oE Ilaps 7[ P~ge5 44
:ni~l 45, ;:i~it:i Cl;trn Cni~nLY Roc•ordrz.
1 ,
'i
; ~ ~ ~'.1f I ~a'; 2 I
~ ~~ivi t nri•:", •-,.~r•,i ~v~•-~io~~ i}
~
~ P.nryl' ,I~L1 1 ~ ~ I^ ~i'~
' 1
~ 1
1
~I
~ 11
= iU0
n
' ~
i _ ~
i _ ~
•'.~in~~~~.~~~~i~ ~n~~r
~'9 7.%i . i. s,i t.n Hi n~__ '
1 ? ~ •
~
~ . . ~.._.-I~~n2
,.i . , ~ i.n r.,~ ~oLtO
. `
t•
• E:{FiIc3IT "g" • ,
BID FUf2t4 - THREE OAF:S PARK SUBDIVZSION ~
T0: CITY OF CUPERTINO
10300 Torre Avenue
Cupertino, CA 95014
1. THE UNDERSIGNED HEREBY PROPOSES AND OFFERS TO
PORCHASE LOT(S) OF IMPROVED RESIDENTIAL
PROPERTY WITAIN TRACT N0. COMMONLY KNOWN AS
THREE OAKS PARF SUBDIVISZON.
CnSH BID PRICE:
Bidder hereby tenders S representing a deposit
' or deposits for the purchase of lots.
' If the successful bidder fails to complete the.purchase
; in accozdance Witn the specified terms, 55,000.00 of the
deposit shall be forfeited.
2. Bidder's Name (Prir.cipal)
~ Entity
, Zndividual, Partnership, Corporation
. Address ~"1
City, State, Zip Code
3. Telephone number: Day: Night:
4. The undersigned biuder submits this bid subject to
all the term> an3 conditions of the Resolution of
Intention to Sell Su:plus Real Property, dated
19 , and agrees to be bound thereby.
Signature•
If partnership and/or corporation:
Title: State of Incorporation:
BROI~ER'S COt•iMISSION
The follouing information shouid be comoleted if a zeal
estate commission is to be paid to a duly licensed real
~state broker in the event this offer is accepted. Such
' commission is to be deducted fzom the stated cash 6id
price ta determine the net bid. .
.
~
If this bid~ :inally accepted and sa~f tne prcoert}• ,
is consumma in accordance ~ith the as provided in .
the resolution, City sha11 pay a commission of
Dollars ( S . 00 ) . ~
Said commission shall not exceed three percent (38) of
the cash bid price stated herein. The commission 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 Address:
j Bidder's Signature:
i
~ Bidder's Name•
I •
i If applicable:
Co:npany tdame: Title:
~
~
€
~
i
~
i •
EXHIBIT "C" ~
, PURCHASE CONTRACT RECEIPT FOR DEPOSIT
AND ESCROW INSTRUCTIONS
This Agreement dated this day of ,
19 , is made by and between the CITY OF CUPERTINO
("Sellez") and
("Buy~r").
RECITALS•
1. Pursuant to the appropriate provisions of'the
California Government Code, Buyer has made a bid to
purchase the propezty described herein and Seller has
accepted such bid.
i 2. Seller has received from Buyer the sum oE:
i ~
Dollars, S
("Deposit") evidenced by a certified or cashier's check
payable to the CITY OF CUPERTZNO, 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 Lotts ) I U~r~~u~;h 7
f ("Property") of Tract No. 692I
i as shown on the map filed , 19 in
I~lap Book r~ i , Pages ~,r, f, 45.
PJOW, THEREFORE, the parties hereto agree as follows:
1. Aoreement of Purchase and Sale •
~
C.C.4.0 1
~
Subjec~ to ~ terms and conditions as ~ forth herein,
Seller shall sell and Buyer shall purchase the property
foz a tota~ purchase price of $
2. Pavment of Purchase Price
The purchase price for the property shall be paid as
follows:
2.1 Buyer has already paid Seller a deposit of
, S
2.2 No later than thirty days after this agreement
' is executed Buyer shall deposit witH the Escrow
Holder for delivery to Seller at close of
,
escrow, cash or a certified or cashier's check
i
~ made payable to Title
~ Company in an amount of S
(the full amount of the purchase price less
• deposit) plus closing costs necessary to close
escrow. In the event that Buyer fails to
deposit the total cash required within the time
specified, Seller shall retain S5,000.00 of the
previously paid deposit. The time specified
may be extended by mutual agreement between
Buyer and Seller.
3. The Closine of 5ale Transaction Throuah Escrow
3.1 The purchase and sale of the property shall be
completed within thirty (30) days after
executinq this Purchase Contract Receipt f or
C.C.4.0 2 '
~
De~it. The closing of the s~ shall b~ .
through an esczow to be opened at the following
. title company ("Escrow Holder"):
Vnllcy 'I'iclc Co.
10625 ti. Uc Anz:~ Bc~ulev:trd
Cupurtina, Ci\ 95(114
3.2 Znstzuments in respect to the purchase and sale
` shall be deposited in escrow by Huyez and
Seller as follows:
I, (a) Seller shall deposit, prior to•close of
' escrow, a grant deed C.11~' executed by
~ Seller in recordable form. ,
(b) Buyer shall deposit cash or a certified or
cashier's check for the amount required to
~ close escrow pursuant to Paragraph 2.2 of n
I this agreement.
8. Notices
Any notice, request, demand, instruction or other
communication to be given to any party hereunder shall
be in wziting and delivered personally, or sent by
registered or certified mail as follows:
Seller: CITY OF CUPERTINO
P.O. Box 580
Cuoertino, CA 95014-0580
C.C.4.0 3
l
Buyer: • •
Notice shall be deemed to have been given when delivered ~
persqnally or two days after mailiny to the above
address.if mailed. No notices shall 6e effective unless
and until all persons entitled to notice have been
notified in accordance with the foregoing. The
~ addzesses and 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 hezein if no written notice of change has been
sent oz received, shall be deemed to continue in effect
for all purposes hezeunder.
9, Further Assurances
Buyer and Sellez agzee that at any time, or from time to
time aftez the execution of this Agreement and whether
before oz after the close of escrow they will, upon
:equest of the other, execute and deliver such documents
and do such further acts and things as such party may
zeasonably request in order to effect fully the purposes
of this Agreement.
.
C.C.4.0 S
~
10. Surviv o~ Covenants •
~ Each of the covenants and aazeements contained herein j
shall, to the extent applicable, survive the close o:
escrow.
11. 5uccessors and Assians
This Agreement shall be binding upon and inure to the
benefit of each of the parties hereto, and to their
zespective successors and assigns.
, 12. Captions
The captions in this Agreement are inserted only as a
matter of convenience and for reference and in no way
I de£ine the scope or extent o~ this Agreement or the
' construction of any provisions herein or of any document
i or instrument referred to herein.
13. Time ^
Time is of the essence in this Agreement.
I 14. Entire nareement; Amendments
This Agreement embodies the entire Agreement and ~
understanding between the parties relating to the
subject matter hezeof and may not be amended, waived o:
discharged except by an instrument in writing executed
i by the party against which enforcement of such
I
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 o: the Agreement, nor any
C.C.4.0 5
^
portion the~f, shall not affect the r~ining portions .
thereof or any part hereof and this Aqreement shall be
construed as if such covenant, aqreement:, condition or
provision had not been inserted hezein.
15. Attorney's Fees
Should any suit be brought to enforce the terms of this
Agzeeryent or any obligation herein exoressed, the
prevailing party shall be entitled to reasonable
attorney's fees, costs and expenses herein incurred.
'
I
i
~
f~~
i
~
i
C.C.4.0 6
~
. ~ ~ ~
riiicrr•. c~ni:s sur,n i v i s iuri
All ~hnt r~~rt:iln r~•~I pr~~~~~•rtY sftunto In tho Clty uf Cu~~ertino, County ~
nf S:u~t~ Cl;ira, 5[~Le of Cnllfornin, mnro p~rtlculnrly descrlbed aR
fr~lluw,:
All nf L~~t~: I tliroiif;li 7 nr: .h~~wn u~~„n Ili:il ~•rrt:itn 'fcnct No. G921, '1'hree
Il;ilcs Snbdlvlr:lon, tahirh mnp w:i~ rrc•urdi~d In Ituok 490 of Plape n[ P~gca 44
rin~l 4i, S:ipt:i Clsr~ (:aunty Rr~~ordw.
I ~ '~t'.~r' 1 ~n'; 7. 1 U~
3 V
~ iiivrf nni -•-.~F•,i ~v~~,~n~i L
i
~
j i v.nn~• q•)~~ ~tA 1~;
I ~~i '
~ 1 .l
~ (I
1 ~
, I 100~ ~S U
tt
A
~ -
~ - _ - ~
~ i.v,~,•.~~ ui ~ ~ n~ i~
~ ~ - :0,7 - „ - - -
i.n.. ' 4,~ ~ . r.n ~ Atn'1
I 7. ? ~ . r,
~i ~
r. ~ 2702
o.n iPt~ ~~.n r..n ~0~.20 _I_._.
~