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January L, 1956 <br />are A, Andaril, Finance <br />Subject: tu:lease of Funds to Anthor;y U. 1�esa a!-4 Felicia :.. Aesa for pr!)perty acquired <br />by City at 78 Cal:.fornia Street. <br />Reference is made to our discussion with the City Attorney relative to the release <br />If funds *sax In escrow for t~the purchase ,f subject era. c;rty by the City. In effect, your <br />letter of i4cember 15, 1955 t� the Alarwda w..nty Last :lay Title la- uranee Go--q)any should <br />be amended to permit the title cony t.:, rAease the a-�v j unt earlier forwarded so that <br />Mr. a -id 'drs. Ness will be free to purchase anAher h:J.xe, wr::..ch they elan to do. <br />Kr. Czu,den sugges :s that the letter that you send to the title eon ,any include the <br />following comes-nte "this letter amends the letter of instruction sent you on Wee -Aber 15, <br />1955 to `✓w effect. treat Uie funds sent you for the purchase of a ho .se and lot at 73 Cali- <br />fornia Street be acid to t'ie ,+tersons 2eE ally entitled thereto". I lease of these lands <br />should be made upan issuance of a pJli^y of title insurance suing tiye title to t'te <br />pro .erty at V Calafornia Street vested in the City of San Leandro. The taxes on t - s <br />pro^erty a xuuld be pro -razed to tho date of cl:tsing of escrow." These phrases are veakilL <br />sugge: . vie and are intended as guide6and key paints waieh should be cz•verco in your letter <br />releasinf- funds which s:z.t-,:ld now be sent ua the 1%.tie C.:jpany, Hr. Carden also recon &,ads <br />that the letter make reference to " .resolution-kcceptin;; Conveyance ! tone] wr:ieh the <br />City Council passed on January 3, 1f;56* A certified copy of this resolution may be <br />obtained from the City Clerk and at .ached to yr-%ur letter to tt;e lir..ke Co=iany, <br />ix= I an attaching thereto an a .reeuent signed by Mr, and I v. mesa w.-tich sets ftirth <br />the c,anditions uWer w dch the sellers slay rClain in the property in q�jest-.1= beyond <br />February 1, 1956, ?roviding this is agreeable both the seller and the City. It is not <br />eonteigAated that tkw sellers will remain at this lotion beyond February 19 1956, <br />hawerver 'Ire Carden felt trml it wa:., acvisable that the City nave a si; mod agree ant with <br />the sellers covering this point. <br />Your letter of Instructions to the `title CoNAuq sh.tuld co:niplete all arrangewnts <br />necessary for the City to ac :.,ire t.:is hutuse ana lot, I. will forward to the City Clark <br />the f_le that I have kept in VUs office on this transaction so that he x ll Nave all the <br />pertinent documents pertaining :hereto on file (aft ratal, prse-iininary relyort by the Title <br />Company, apreeroent of January 3, 19569 and related correspondence). <br />If you have any further questions regarding tqU transaction ;Luse let me know and <br />I will be as helpful as xassible in assisting y::u. Pl.ase let me have a copy of yvur <br />letter to the title Cow for the _,e:neral file which w-i.11 be retained in this office <br />covering this capital improvement project. <br />Wesley McClure City Hanager <br />byt '. <br />r. MesMa oit n <br />/ t.s: istant o the Ci 4 Man€ eor <br />ce t City Clerk <br />City At,.:rney <br />