AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY
AND ESCROW INSTRUCTIONS
APN: 451-063-01
BLACKSTONE & MCKINLEY BNSF GRADE SEPARATION PROJECT
This Agreement for Purchase and Sale of Real Property (Agreement) is entered into by and between Edward D. Fanucchi (Seller) and the CITY OF FRESNO, a municipal corporation (City).
RECITALS
A. Seller is the owner of an approximately 0.115 acre parcel (5000 square feet) located in the City of Fresno known as Assessor's Parcel Number (APN) 451- 063-01.
B. City desires to purchase Seller's property more particularly defined in Section 1 below (the Subject Property) for the Blackstone & McKinley BNSF Grade Separation Project (Project).
C. City requires the Subject Property for Project purposes, and for public uses in accordance with Sections 21080.13(a) of the California Public Resources Code, and 15282(9) of the (CEQA) Guidelines and is authorized to acquire the Subject Property pursuant to CCP 1240.010.
D. City now wishes to purchase from Seller and Seller now wishes to sell to City the Subject Property subject to the terms and conditions contained herein.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and of the covenants, conditions, and premises hereinafter contained to be kept and performed by the respective parties, it is mutually agreed as follows:
1. Subject Property. The Subject Property known as APN 451-063-01 is situated at 1598 North Glenn Ave. in the City of Fresno, County of Fresno, State of California, being approximately 0.115 acres (5000 square feet) in size, which includes fixtures and improvements located on the property and all rights, privileges, and appurtenances including any permits and easements. A legal description of the Subject property is described in Exhibit "A," attached hereto, and incorporated herein by reference.
2. Fee Title. Seller shall grant the Subject Property to City in fee, free and clear of all liens, encumbrances, assessments, easements, leases, taxes, and restrictions of record except as set forth in this Agreement.
3. Purchase Price. City shall pay Seller $340,000.00 (THREE HUNDRED FORTY THOUSAND AND 00/100 DOLLARS) (the Purchase Price) for the Subject Property.
4. Effective Date. The Effective date of this Agreement shall be upon its duly authorized execution by the City.
1 2
5. R ight to Sell. Seller represents and warrants that it holds fee title to the Subject Property, that such property is free of all liens and encumbrances, and that it has the authority to enter into this Agreement. Seller agrees to hold the City harmless and reimburse the City for any and all losses and expenses as to the Subject Property by reason of any change in ownership or lease of said Subject Property held by any tenant of the Seller.
6. Condemnation. Seller acknowledges that the City has the power to acquire the Subject Property for public purposes by eminent domain. If title does not pass to the City within the time provided by this Agreement, the City may begin eminent domain proceedings to acquire such possession or title. The parties agree and stipulate that the net sum payable to the Seller hereunder shall be conclusively deemed to be the total just compensation in such proceedings, and this Agreement may be filed with the court as a stipulation upon which judgment may be entered in the eminent domain proceeding as to the just compensation to be paid to Sellers. Sellers waive all other defenses in said proceeding.
7. Right of Possession. It is agreed and confirmed by the City and the Seller that notwithstanding other provisions in this Agreement, the right of possession and use of the Subject Property by the City, including the right to remove and dispose of improvements within the Subject Property shall commence on the Close of Escrow controlling this transaction or by July 31, 2024, whichever occurs first.
8. Escrow Instructions. The sale shall be completed through an External Escrow to be opened at Fidelity National Title Company, 7475 N. Palm Ave. #107, Fresno 93711, with Bernadette Watson, Escrow Officer. Said escrow shall be opened upon the following terms and conditions, and the Seller and City by their signature to this Agreement make this paragraph their escrow instructions:
a. Purchase Price. City shall pay the Purchase Price in good funds through Escrow, not later than the close of business on the day before the Close of Escrow. Escrow Holder will forward to both City and Seller a separate accounting of all funds received and disbursed for each party, and copies of all signed and recorded documents deposited into Escrow, with the recording and filing date and information endorsed thereon.
Payment of said sums, less Seller’s cost to clear title, if any, may be made to Seller only when Escrow Holder possesses and is in a position to deliver to the City a fully executed and acknowledged and recorded deed to the Subject Property free and clear of all liens, encumbrances , and restrictions of record.
Any or all monies payable under this Agreement, up to and including the total amount of unpaid principal and interest on note(s) secured by mortgage(s) or deed(s) of trust, if any, and all other amounts due and payable in accordance with the terms and conditions of said trust deed(s) or mortgage(s), shall, upon demand(s) be made payable to the mortgagee(s) or beneficiary(ies) entitled thereunder; said mortgagee(s) or beneficiary(ies) shall furnish Seller with good and sufficient receipt
IN WITNESS WHEREOF, the parties have executed this Agreement at Fresno, California, on the Effective date of this Agreement as defined above.
CITY OF FRESNO,
a California municipal corporation
By: ------------
Randall W. Morrison, PE Date
Capital Projects Director
RECOMMENDED FOR APPROVAL:
sClu2U.lvt (!1vu.n12 ;riq -d-'-1
Nancy Bruno Date
Supervising Real Estate Agent
APPROVED AS TO FORM:
ANDREW JANZ
City Attorney
Kelse 'A. Seib
City Attorney
Date Deputy
ATTEST:
TODD STERMER, CMC
City Clerk
By: ____________ _
Deputy
Attachments:
1. Exhibit A - Legal Description
Date
OWNER,
By: �fl/�O � o·J�·-2()-2-lj
Edward D. Fanucchi Date
EXHIBIT "A"
APN 451-063-01
Grant Deed
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF FRESNO, COUNTY OF FRESNO, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
LOT 45 OF STIVERS TRACT NO. 3, ACCORDING TO THE MAP THEREOF RECORDED IN BOOK 9, PAGE 86 OF PLATS, FRESNO COUNTY RECORDS.