HomeMy WebLinkAbout1 of 1939 - A resolution accepting offer and purchase from Lauren W. Gibbs Company, for the sum of $9,000.00 of REMARKS
Resolution AO
By Commissioner Goggin
Accepting offer and purchaSe
from Lauren W. Gibbs Company, 1
for the sum of $9,000.00,
of land in lot 6, Blk. 45,
: 10 Acre Plat IA', B. F. S.
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AND PASSED
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Dale Filed
Address
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Goggn.
Keyser _
Matheson - - - -
(1
Murdock - - - -
Mr.Chairman - - RESOLUTION
Result
WHEREAS, an offer has been received from Lauren T. Gibbs
Company, Real Estate, Insur::nce, Securities, a corporation, to sell
to Salt Lake City, a municipal corporation of the State of Utah, the
real estate hereinafter described for the price and upon the terms
herein set forth, and said price and terms are fair and just and it
would be and is for the best interests of said city to accept said
offer and purchase said property; that said purchase and the terms
thereof are within the power and authority of said city and the in-
debtedness thereby created is within the debt limit of said city.
N0W, THEREFORE, BE IT RESOLVED that said city accept said
offer and purchase said real estate upon the following terms, to-wit:
The property shall be conveyed by a good and sufficient
warranty deed, free and clear of all liens and encumbrances and bf and
from all taxes and assessments, except taxes and assessments ltvied
for the year 1939 and thereafter. Said Lauren 11. Gibbs Company shall
furnish an abstract of title certified to date of the delivery of
such deed.
The purchase price shall be and is Nine Thousand Dollars
($9,000.00) payable upon delivery of the deed by a promissory note
made by said city and payable to bearer in substantially the follow-
ing form, to-wit:
$9000.00 Salt Lake City, Utah,
January 3, 1939.
Salt Lake City, a municipal corporation of the State of
Utah, hereby acknowledges itself to be indebted and for value
received promises to pay to the bearer the sum of Nine Thousand
($9000.00) Dollars in lawful money of the United States of
America as follows: $1000.00 on the third day of January,
1940, and $1000.00 on the third day of January of each and
every year thereafter until the said purchase price is paid
in full, together with interest thereon at the rate of 4% per
annum, payable semi-annually. Eoth principal and interest of
this note shall be payable at the banking house of Zionts
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-2-
Savings Bank and Trust Company in Salt Lake City, Utah.
If default be made in the payment of any interest or princi-
pal when due, the entire unpaid principal hereof shall be-
come due and payable at the option of the holder of this
note and draw interest at the rate of eight per centum *80)
per annum from maturity until paid, both before and after
judgment.
If suit be brought upon this note for its collection
the maker agrees to pay a reasonable attorney's fee.
The maker hereof shall have the right and option to pay all
,,f said unpaid installments at any time after Deeeruhez
1940. S
} SALT LAKE CITY, a municipal
corporation,
By
f _..---r,iayor- __
That the Mayor be and hereby is authorized to make, exe-
cute and deliver a note according to the terms of this resolution
and that upon delivery thereof the same shall be binding and valid
1
as the note and obligation of said city.
That said real estate is situate in the County of Salt
Lake, State of Utah, and described as follows:
Beginning at a fence post at the Southwest corner of
3 Lot 6, block 45, Ten Acre Plat "A", Big Pield Survey,
at a point South 0° 211 West 2291.5 feet from a monu-
ment at the Northwest corner of said Block 45, thence
South 89° 50/ East 300 feet, thence North 0° 201
East 288.75 feet, thence North 89° 501 West 300 feet,
thence South 0° 201 West 288.75 feet to place of be-
ginning.
Together with all water and water rights appurtenant to
or heretofore used upon said land,
O
Passed by the Board of Commissioners of Salt Lake City,
Utah, this ) 2,1.3k.day of , A.D. 1939.
.--ZtiOlr,ecoraer