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RESOLUTION AUTHORIZING THE ACQUISITION OF REAL PROPERTY (2210 NORTH BERKSHIRE ROAD) • WHEREAS, the City has approached the owner of certain property located at 2210 North Berkshire Road ("Property") seeking to acquire such Property for the purpose of installing and constructing certain drainage improvements necessary for the North Berkshire Road Drainage Improvement Project; and WHEREAS, the Property is currently owned by Countrywide Home Loans, Inc. ("Owner") a corporate entity that acquired the Property in 2004 by Deed of Foreclosure; and WHEREAS, the City has received an offer from the Owner's agent, offering to sell the Property to the City for cash compensation of approximately $7,000 and for additional compensation of approximately $12,330.00, in the form of the waiver of certain liens lodged against the Property in favor of the City (together, "Purchase Price"); and WHEREAS, staff recommends that the acquisition of this Property would be in the best interests of the City and that the Purchase Price is reasonable and fair compensation for the Property; and WHEREAS, the Owner's agent has provided the City Attorney with copies of standard form contracts containing certain provisions that it would propose to govern the purchase/sale of this Property, and this Council has had an opportunity to review those contract documents; NOW, THEREFORE, BE IT RESOLVED this 6`h day of September, 2005, as follows: • (1)This Council authorizes staff designated by the City Manager, workingwith the City Attorney's office, to negotiate final terms and conditions of a contract for the City to acquire the Property from the Owner. Any such final terms and conditions shall provide for (i) a Purchase Price no greater than $20,000.00, and (ii) other terms and conditions as may be approved by the City Manager and the City Attorney's Office, but which shall be no less favorable to the City than those set forth within the form contract documents that have been reviewed and considered by this Council to date; and (2)Upon approval of final terms and conditions of a contract, consistent with the requirements set forth above, this Council hereby designates the City Manager and the City's Chief Financial Officer as person(s) who are each authorized to execute any contract and all other documents necessary to purchase the Property and complete a final Settlement of this land purchase/sale transaction. Approved by Council September 6, 2005 T -9"-75t City Co ncil 0