CC Resolution No. 9311
RESOLUTION NO, 9311
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO DECLARING
ITS INTENTION TO SELL SURPLUS REAL PROPERTY
May 15, 1995
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 subdivision, 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 ofthe City of Cupertino, for the best interest of the City, that said
property be sold to the highest responsible bidder or bidders under the authority of Section 37350
et seq, of the Government Code of the State of California.
WHEREAS, the City has complied 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, THEREFORE, it is hereby determined and ordered that said property shall be offered for
sale under the following terms and conditions:
1. BIDDING DATE
The City of Cupertino shall offer for sale one (1) improved residential lot. The bidding
session is to be held on Monday, May 15, 1995, at 7:30 P,M, in the Lower Level Conference
Room (C & D) of the City Hall, 10300 Torre Avenue, City of Cupertino.
2. WRITTEN BIDS
Written bids shall be presented on the Bid Form as shown in Exhibit "8." Bidders can use the
attached form or obtain additional copies of the Bid Form as noted in Paragraph 13 of this
Resolution, The Bid Form must be received by the City Clerk of the City before 7:30 P,M, on
the date of the bidding session.
The Bid Form should be completed and placed in a sealed envelope along with the
appropriate deposit as described in Paragraph 5. The outside of the envelope should state that
it is a "SEALED BID". The bid can be mailed or hand carried to the City Clerk, City of
Cupertino, 10300 Torre Avenue, 'Cupertino, California 95014, Mailed bids should be placed
in a second envelope and addressed accordingly,
Resolution No. 9311
3, MINIMUM BID
The minimum acceptable written bid shall be $325,000 for Lot 187. All bids submitted must
be cash bids, Bids for less than the minimum bid amount will be rejected,
4, TERMS
Bids shall consist of an unconditional 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 contract (Exhibit "C") and thirty (30) days
thereafter to close escrow unless extended by written mutual consent of the parties,
5, DEPOSIT
(a) Amount of Deposit
All, submitted written bids must be accompanied by a certified 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
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 prior to the
commencement of the oral bidding, a deposit amounting to twenty thousand dollars
($20,000,00), 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 submitted a $15,000,00 deposit with a written bid which complies
with the terms herein, shalllliÚ be required to submit any additional funds to participate
in the oral bidding.
(c) Forfeiture of Deposit
In the event a bid is accepted and the bidder fails, 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, then said bidder will forfeit an amount
equal to $15,000.00 for the lot successfully bid upon and subsequently not purchased,
The difference, if any, remaining after subtracting the $15,000,00 forfeiture from the
original deposit will be refunded to bidder upon the determination that bidder does not
desire to consummate the sale,
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Resolution No. 9311
(d) Return of Deposits
Deposit of 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, 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 preliminary title report is
available at the City Offices, (Department of Public Works) 10300 Torre Avenue, Cupertino,
CA.
7, LOT INFORMATION
A file for Lot 187, containing a tract map; street improvement plans; geological reports;
preliminary title report; bylaws of Seven Springs Homeowners Association; Declaration of
Covenants, Conditions and Restrictions for Seven Springs Development; and the Residential
Hillside Ordinance is available to the public in the Public Works Department, Monday-
Friday, 8:00 a.m, to 5:00 p,m, Any questions regarding development requirements may be
referred to the appropriate departments: Building (777-3228), Planning (777-3308), or
Public Works (777-3354).
8, ACCEPTANCE OF BIDS
The accepted bid, this Resolution and exhibits thereto and the executed Purchase Contract
(Exhibit "C") 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 which at 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 constitute the
. greatest return to the City.
9, CLOSE OF ESCROW
The transaction shall be consummated through an escrow to be opened by the buyer
(successful bidder) at Valley Title Co.; 10625 South De Anza Boulevard; Cupertino, CA
95014. 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,
10. 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 prior to close of escrow,
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Resolution No. 9311
The successful bidder may have reasonable access to the premises for the purpose of studies
related to the development of the property prior to the close of escrow, The successful
bidder will hold the City harmless for any dantage 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 occur on the subject property so long as the
City retains ownership and occupancy of the property.
11. REAL ESTATE BROKERAGE COMMISSIONS
The City agrees to pay a brokerage commission 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 escrow at close
of escrow.
12, ATTORNEY 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 agrees to pay reasonable attorney fees incurred by the City.
13, BIDDING PROCEDURES
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 7:30 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 7:30 P.M, The bidding session
shall be held in Conference Rooms C & D, City Hall,
(b) The Clerk will arutounce 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 subtracting the brokerage commission, if any, from the bid price.)
(c) Thereafter, oral bids for Lot 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. Again oral bids may 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.
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Resolution No. 9311
(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"),
(e) The Clerk will tentatively accept the high and second highest bid for Lot 187, adjourn the
bidding session and deliver the two high bids to the City Council. The City Council, at
its sole discretion, will resolve both the method of sale of the lot being offered in a given
round of bidding 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 call for a new bidding
session.
(f) Final acceptance of the high bid for Lot 187 shall be made by the City Council. The
Council will determine which bid is 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
and an escrow shall be established by the successful bidder at Valley Title Co.; 10625 S.
De Anza Boulevard; Cupertino, CA 95014, Escrow shall 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,
14, REQUESTS FOR ADDITIONAL FORMS AND PROCEDURES
Additional Bid forms and copies of this Resolution which serve 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
Public Works Department
10300 Torre Avenue
Cupertino, CA 95014
Phone: (408) 777-3354
IS, PUBLICATION AND POSTING
The City 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 property with a copy of said notice
at least thirty (30) days prior to the bidding session.
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Resolution No. 9311
PASSED AND ADOPTED by the City Council of the City of Cupertino, this 3rd day of April,
1995, by the following vote:
VOTE
MEMBERS OF THE CITY COUNCIL
AYES:
Bautista, Burnett, Koppel, Sorensen, Dean
NOES:
None
ABSENT:
None
ABSTAIN:
None
APPROVED:
/s/ Wally Dean
Mayor, City of Cupertino
ATTEST:
/s/ Kimberly Smith
City Clerk
616
EXHIBIT "B"
BID FORM - A PORTION OF SEVEN SPRINGS SUBDIVISION
TO: CITY OF CUPERTINO
City Clerk's Department
10300 Torre Avenue
Cupertino, CA 95014
1. THE UNDERSIGNED HEREBY PROPOSES AND OFFERS TO PURCHASE
LOT 187, AN IMPROVED RESIDENTIAL PROPERTY WITHIN TRACT NO, 8067
COMMONLY KNOWN AS "SEVEN SPRINGS SUBDIVISION",
CASH BID PRICE:
Bidder hereby tenders $
of Lot 187,
representing a deposit or deposits for the purchase
If the successful bidder fails to complete the purchase in accordance with the specified
terms, $15,000 of the deposit shall be forfeited,
2. Bidder's Name
(Principal)
Entity
Individual, Partnership, Corporation
Address
Street
City
State
Zip Code
3, Telephone Number: Day
Night
4, The undersigned bidder submits this bid subject to all the terms and conditions of the
Resolution ofIntention to Sell Surplus Real Property, dated 1995,
and agrees to be bound thereby,
Signature:
If partnership and/or corporation:
Title:
State ofIncorporation:
8-1/2
BROKER'S COMMISSION
The following information should be completed if a real estate commission is to be paid to a duly
licensed real estate broker in the event this offer is accepted, Such commission is to be deducted
from the stated cash bid price to determine the net bid.
If this bid is finally accepted and sale of the property is consummated in accordance with the bid
as provided in the resolution, City shall pay a commission of
Dollars ($
),
Said commission shall not exceed three percent (3%) 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:
Bidder's Signature:
Bidder's Name:
If Applicable:
Company Name:
Title:
S-2/2
EXHIBIT "C"
PURCHASE CONTRACT RECEIPT FOR DEPOSIT
AND ESCROW INSTRUCTIONS
This Agreement dated this
day of
, 1995, is made by and
between the City of Cupertino ("Seller") and
("Buyer")
RECITALS:
1. Pursuant to the appropriate provisions of the 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, $ ("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 187 ("Property") of Tract No. 8067 as shown on the map filed
February 25,1988, in Map Book 583, Pages 47-51.
NOW, THEREFORE, the parties hereto agree as follows:
I. Agreement of Purchase and Sale
Subject to the terms and conditions as set forth herein, Seller shall sell and Buyer shall
purchase the property for a total purchase price of $
2. Payment of Purchase Price
The 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
Escrow Holder for delivery to Seller at close of escrow, cash or a certified or cashier's
check made payable to Valley Title Company in an amount of
$ (the full amount of the purchase price less
deposit) ~ 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 $15,000,00
of the previously paid deposit. The time specified may be extended by mutual
agreement between Buyer and Seller,
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3. The Closing of Sale Transaction Through Escrow
3.1 The purchase and sale of the property shall be completed within thirty (30) days after
executing this Purchase Contract Receipt for Deposit. The closing of the sale shall be
through an escrow to be opened at the following title company ("Escrow Holder"):
Valley Title Co.
10625 S. De Anza Boulevard
Cupertino, CA 95014
3,2 Instruntents in respect to the purchase and sale shall be deposited in escrow by Buyer
and Seller as follows:
(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 close escrow 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 CUPERTINO; 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 and until persons
entitled to notice have been notified in accordance with the foregoing. The 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.
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5, Further Assurances
Buyer 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 things as such party
may reasonably request in order to effect fully the purposes of this Agreement.
6. Survival of Covenants
Each of the covenants and agreements contained herein shall, to the extent applicable, survive
the close of escrow,
7. Successors and Assigns
This Agreement shall be binding upon and inure to the benefit of each of the parties hereto,
and to their respective successors and assigns.
8. Captions
The captions in this Agreement are inserted only as a matter of convenience and for reference
and in no way define the scope 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; 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 party against which enforcement of such
amendment, waiver or discharge is sought. This Agreement supersedes all prior agreements
and memoranda. The invalidity of anyone of the covenants, agreements, conditions or
provisions of the Agreement, nor any portion thereof, shall not affect the remaining portions
thereof or any part hereof and this Agreement shall be construed as if such covenant,
agreement, condition or provisions had not been inserted herein.
II. Attorney 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 fees, costs and
expenses herein incurred.
C-3/3
EXHIBIT A
PLAT MAP & DESCRIPTION
All that certain real property situoted in the County of Santa Clara, State
of Californio, described as follows:
All of Lot 187, as shown on TRACT No, 8067, which was
filed for record in the Office of the Rec'order of the County of Santa Clara,
State of California, on February 25, 1988 in Book 583 of Maps, page 47,
48, 49, 50 ond 51.
TRACT
~
oRI'Jt:
NO.
8067
SPRINGS
ORCHARD SPRING LN
~
~
SCALE: 1"=200'
189
SHEET l' OF f