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HomeMy WebLinkAboutOrd1953-230 r - . ORDINAlICE liD. 230 AN ~DDlAJlCE RELATING 'ro 'mE SALE AND OONVEYANCE BY 'lHE CI'lY OF SEWARD, ALMI::A OF LOTS 1 to 17, BOTH INCLUSIVE, IN BLCX% 31, AND LOTS 1 and 2, LOTS 4 to 20.. IN BLCX% 32, OOTH INCLUSIVE, AND LOTS 24 to 40.. OOTH INCLUSIVE,/ALL IN THE ORIGINAL TOIlNSrrE OP SEWARD, ALASKA, ilCCORDING 'ro THE OFFICIAL PlAT THEREOF, TO C. TED BRADY, AND THE RECISION AlID CAlCELLATION OF A FORMER DEED TO SAID LOTS 'ID SElNARD INVESTMENT COMPANY.. INC. WHEREAS, the Common Council of the City of Seward, Alaska., finds: Ca) That the real property hereinabove and hereinafter specifically described is no longer required for public u.se by the City of Seward, and that a .a1e thereof, in order that it may be developed for residential u.e, would be Blost advantageous. Cb) That a fair and reasonable '9ll1ue of said real property is POOR THOOSABD AND FIFl'Y AND NO/LOO DOu.ARS ($4,050.00). CCl) That under Ordinance No. 229, pused by this Council on May 7, 1953, and deed punuant thereto, executed by the Mayor and City Clerk, of the same date, and recorded in the Recorder's Office for the Seward PrecinClt in Book 16 of Deeds at Page 298, sdd real proptrty wu conveyed to Seward Inves1:me.t Company, Inc., a corporation. Cd' That the purchase price of :rouR THCUSAND AND FIFTY AND NO/100 DOLLARS (t4,050.00) pdd for said real property was actually paid by, and received by the City of Seward from, C. Ted Brady who represented hilll8e1f as negotiating for and in behalf of a cOIPoration by that name which he was in the process of orqanizing. Ce) That the incorporation of said Seward Investment Company, Inc., is not yet completed so as to be a legal entity capable of holding the title to aid reaa. property which the City of Seward attempted to vest in it by the aforesaid deed, and the said C. Ted Brady has requested that said deed be rescinded and cancelled and a new deed executed conveying sdd real property to him, the said C. Ted Brady, as an individual. -1.. ~ (f) That the conditions placed upon the use of said real propt rty and the time limit placed upon the completion of construction, under the terma of Paragraph 7 of said Ordinance No. 229, will not pe~it the pur" chas.r to obtain satisfactory financing of such construction. NCW, THEREFORE, BE IT ORDAINED BY THE OOMK:lN OOUNCIL OF THE CITY OF S&lARD, .ALASKA: Sec. 1. That said deed referred t 0 in the foregoing Paragraph Co) be and the SaJlle is hereby rescinded and cancelled and in lieu . thereof, and for the same consideration of POOR TBJUSAND AND FIFTY AND NO/lOa DOUARS CI4.050.00) recei..ed therefor, the Mayor and City Clerk of the City of Seward, Aluka, are hereby directed to execute and deliver to C. Ted Brady, a deed in due fOB of law, and in the name and under the seal of the City of Seward, Alaska, conveying to him, the said C. Ted Brady, the real property hereinbefore and hereinafter described as follows, to-wit: All of Lots 1 to 17, both inclusive, in Block 31, and Lots 1 and 2, Lob 4 to 20, both inclusive, and Lots 24 to 40, both inclusive, in Bloc% 32, all in the Original Townsite of Seward, Alaska, according to the official plat thereof, EUBJECT, HOWl:."VER, to the following restrictions which ~all be recited in said deed, to-wit: The Grantee herein, by the acceptance of this deed, agrees, for himself, his heirs and assiqns, that for a period of ten years from and after the date hereof, said real property hereby conveyed shall be used for residential ~ses only, and of Ii standard of construction meeting the approval of the Federal Housing Administration. Sec. 2. That a copy of this Ordinance be certified by the City Clerk and annexed to and made a part of said deed referred to in Sec. 1 hereof. Sec. 3. That said Ordinance No. 229, and particularly paragraph 7 thereof, and all ordinances or Resolutions in conflict herewith, be and the sa.. are hereby repealed. -2- L"'"" --' Sec. 4. That this Ordinance shall be published by posting a copy hereof on the City Hall Bulletin Board for a period of ten days following its passage. Sec. 5. That the rules governing the introduction, pllssage and approval of Ordinances and Resolutions are hereby suspended and an emergency declared to exist, and this Ordinance shall be effective im- mediately upon its pllssage and approval. Introduced, passed and approved by the COI\1llon Council of the City of Seward, Alaska, this 11th day of August, 1953.. c;2.~f'~,L Mayor ~~ City Cle '