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RESOLUTION 65-21 AUTHORIZING EXECUTION OF ESCROW INSTRUCTIONS AND PA'fi~iENT FOR CANCELLATION AND R~fOVAL OF APPURTENANCY OF SANTA ANA VALLEY IRRIGATION COi~iPAB~~ WATER STOCK WHEREAS, in the process of certain street work it was found to be necessary to remove and relocate certain Santa Ana Valley Irrigation C~mpany structures or to arrange for service through them to be discontinued; and WHEREAS, the more economical and more satisfactory solution was determined to be discontinuation of the use of said Santa Ana Valley Irrigation line and appurtenant structures, and ~ne City has negotiated agreements with the only three owners using said line; and WHEREAS, the CASTILE CHRISTIAN CHURCH, a corporation, is the owner of 2 certificates representing 4.56 shares of Santa Aha Valley Irrigation Company Water Stock and has agreed to the desirability of removing the water stock appurtenancy from the land owned by them between Bishop and Chestnut Streets and accepting water service from the City of Santa Aha, all as set out in the escrow instructions; and WHEREAS, said Corporation's stock is represented by two certificates, one numbered 22594 for 4.05 shares, and one numbered 23S37 for 51/100 of a share; that due to error in the preparation of escrow instructions reference to Certificate No. 22594 was omitted, but in all other respects said escrow expresses the agreement between the parties. NOW, THEREFORE, BE IT RESOLVED: That the City of Santa Ana approves the agreement with the C~ILE CHRISTIAN CHURCH, a corpora- tion, as expressed by Escrow No. 52379-C through Security Title Insurance Company and authorizes the Mayor of the City to execute the same for and on behalf of the City and directs that the sku of $3,000.00, a portion of the consideration to be given by the City, be paid into said Escrow for the benefit of said corporation when amended escrow instructions providing for the cancellation by said corporation of Certificate NO. 22594,representing 4.05 shares of stock of the Santa Aha Valley Irrigation Company, have been signed by the parties hereto so that the cancellation of the appurtenancy of 4.5~ shares of Santa Ana Valley Irrigation Company Water Stock shall be shown as the consideration to be given by the C~4ILE CHRISTIAN CHURCH, a corporation. BE IT FURTHER RESOLVED: ~fhat said ~nended escrow instructions, in strict compliance with this Resolution, may be executed for and on behalf of the City by the Director of Public Works as an amendment of the original instructions to avoid unnecessary delay in the paying of the cash consideration to said Church corporation. PASSED AND ADOPTED by the City Council of the City of Santa Aha at its regular meeting held on the 1st day of February, 1985. AT'~EST: CLERK OF THE COUNCIL