RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION AUTHORIZING THE EXECUTION OF A REAL ESTATE PURCHASE AGREEMENT AND ACCEPTANCE OF TRANSFER OF A RESIDENTIAL CONDOMINIUM UNIT FROM REYNALDO AND EDITH HERNANDEZ TO THE SAN MATEO COUNTY OFFICE OF HOUSING.

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

 

WHEREAS, the Board of Supervisors authorized entering into a Development Agreement with Silverado Development Inc. in April of 1992; and

 

WHEREAS, the Development Agreement authorized the development of a residential condominium unit with restrictions on price and transfer and which also gave the County of San Mateo the option to purchase said unit; and

 

WHEREAS, the Owners have offered the property to the County and County has elected to purchase the unit;

 

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED as follows:

    1. That the President of this Board of Supervisors be, and is hereby, authorized and directed to execute an Agreement for the purchase of the real property commonly known as 252 - 5th Avenue, Unit 3D, Redwood City (unincorporated), California, and the accompanying Certificate of Acceptance, for and on behalf of the County of San Mateo, and the Clerk of this Board shall attest the President's signature thereto.

    2. That the purchase price in a total amount not to exceed $207,000 is approved.

    3. That it is hereby authorized and directed that all escrow and title fees shall be paid in accordance with the Agreement.

    4. That the County Manager and the Assistant County Manager are hereby authorized to accept or execute on behalf of the County, any and all written notices and documents in connection with the Agreement; and;

    5. That the County Manager and the Assistant County Manager are hereby authorized to accept or execute for and on behalf of the County, in a form approved by County Counsel, such agreements as are necessary to complete the purchase as set forth in the Agreement.

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