1947 (#3538-3628) - Laserfiche WebLink

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Guarantee Company, a title ~nsu~anoe oox-po~mtion, sl~ow~ title to said property to be ~n vest~ in M.H. ~lttier Comp~y~ Ltd., aa ~o ~arcel A above deaeriBed, ~d In A.B. Rouaelle, as to Paroel above desc~i~ed, a~ also sheik; t~t ~he City of Santa ~ was leases of said prope~y ~er leases ~eco~deC on August 22, 1~41, In ~he office of ~he Co~y Hecorder of Orate Co~y, callforn~, a~ ~fe~ing ~o sueh record for ~er par~icula~s of said You are [~eOy advised ~[m~ p~suant ~o ~he lease of parcel B t~e 0ity of ~a ~a ~s ac~Ired title ~ereto and hereby the ~Election to Exercise 0ptionm insofar aa said parcel B is con- ceded, for t~e s~ of ~e T~ousand Five Hundred ~,~.1,~0.00~ In its ~Jor lease of Parcel A from t~e M.~. ~hi~o~ler Company, Ltd., dated A~ust 21, 1~1, t~e City of Santa ~ is ~iven an option t~ purc~ae parcel A, in pa~raph 8 ~hereof, which reads aa foll~s: "8. it la ~ther agreed ~hat t}'i~ Lessee snail ~ve the right at ~y time during tae life ~f lease or d~l~ any rental or extension thereof to p~c~mae the d~ia~ praises for the s~ ~f $~06~000.00 in caan~ law~l money of t~m United States, and if such option ia exercised t~e Lessor ~y reserve one-half of the nineral rights with reservation of ri~t to enter said premises ~d extract and remove said minerals %heart*m, provided, h~ever. ~$ i~~ the ~iUed States Gover~ent exercises its option to purc~b~se, or ~rc~ses the said p~iaea from the imssee within sixty (60) days after ~ssee has exer- cis~ its option te p~cimse fr~ the Lessor, then and in t~mt event the Lessor agrees t~ convey to t~ United States dove--ant all rights reserved ~d all of the re~ini~ m~eral ri~ts In a~d te said p~miaes." The City of Banta ~, however, ~s not heretofore exercised option contained in t~ lease to it of parcel A above described. title t~ereto is. so far aa is ~ tc the City, still vested N.H. Whit~ler Comfy, Ltd, The Clt2 of Sansa .~a. therefore, ~o the e~ent of its ability So to do, he~'eU2 acknowledges reoeipt of yo~ "Election to Exercise Option", as ~o Parcel A above describ~, ~d ~reby tenders to United States of ~erica, by and t~ougn the War Assets ~inia~ti~n p~a~nt ~e t~ right vested in t~e City to assi~ the s~, aaai~ent ef all its ri~t, title ~ interest in the option to pure.se amid Parcel A for ~ne a'~ ~f $~206,~00 aa provid~ In its