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60-2~0 AUTHORIZING EXECUTION OF RESOLUTION NO. DEED AFTER PUBLIC SALE OF "OLD LIBRARY SITE" WHEREAS, after published notice and mail distribution of advertising circulars to all persons known to b~, or who might hav~ been,interested in the purchase of said property, two written bids were received and opened at the regular Council Meeting held on November 7th, 1960, and after announcement of the highest written bid, the question of selling of the "Old Library Site" was thrown open for oral bidding, and eighteen oral bids were made, the closing and highest bid being $101,700.00 made by LINCOLN SAVINGS AND LOAN ASSOCIATION, which said Bidder made a deposit of $11,000.00, by Cashier's Check, for thirty-day option to complete its bid. NOW, THEREFORE, BE IT RESOLVED: That the sale which was de- clared at the above mentioned meeting of the City Council at the close of bidding, which may be completed by the deposit of the balance of the purchase price so bid in escrow within a period of thirty days, is hereby confirmed, and the Mayor and the Clerk of the Council are hereby directed to execute on behalf of the City of Santa Ana a deed conveying:Lots 1 and 4 in Block 20 of the Town of Santa Ana, as shown on a Map recorded in Book 2, Page 51 of Miscellaneous Records of Los Angeles County, California Subject to taxes for the fiscal year 1960-61, to LINCOLN SAVINGS AND LOAN ASSOCIATION, a California corporation, and to deliver the same through escrow opened with the Orange County Title Company under Order No. 389843-HRB, and to execute escrow instructions providing for the deposit of the balance of said purchase price of $90,700.00 to be paid into escrow on or before December 8, 1960. PASSED AND ADOPTED by the City Council of the City of Santa Ana at its adjourned regular meeting held on the 9th day of November, 1950. ATTEST: -1-