214419ORIGINAL TO CITY CLERK
t -
PRESENTED
COMMISSI
214"
RESOLVED, that this Council's pripr Resolution designated C. F.
No. 210017, approved November 20, 1962, as amended by C. F. No. 210157,
approved November 29, 1962, pertaining to the proposed disposition by
sale of certain City -owned real estate, commonly described as the Old Armory
Building and garage premises, more particularly described as
Lots 1, 2, 3, and 4, Block 5, Rice and Irvine's
Addition to St. Paul, Ramsey County, Minnesota,
according to the recorded plat thereof on file
and of record in the office of the Register of
Deeds in and for Ramsey County, Minnesota,
be and the same hereby is further amended in the following particulars, to -wit:
That there be and hereby is added to said prior Resolution designated
C. F. No. 210017 and inserted therein next before the last "Resolved" section
of the same the following:
"RESOLVED FURTHER, that the provisions of the next preceding "Resolved"
section shall apply to the case where the accepted bid incorporates the bidder's
proposal for the latter's payment of the full purchase price for the subject real
estate., without deferment, to said City, coincident therewith and4upon the
•--City's tender of a deed of conveyance conveying marketable title thereto-by
;said City unto said bidder; and that hereby authority is granted for the
City's sale of said real estate under alternate bids, either for the purchase
of the'same upon the basis that the full purchase price bid, without deferment,
hall be payable by the bidder to the City upon the latter's tender of such
aforesaid deed of conveyance of the same, or upon a deferred payment plan
under a contract for deed to be executed and delivered by the City, as vendor,
of the subject real estate, to the successful bidder, as vendee of the same,
provided that, in the event of any such sale and purchase under any such
deferred payment plan under any such contract for deed, there shall be no
deferment of the payment of the full purchase price for a period greater than
two years next after the date of the subject contract for deed and no less
than one -third part of the principal of the purchase price thereunder shall
be paid coincident with the delivery by the City to the bidder - purchaser of
the subject contract for deed, and that deferred payments of the balance-of the
COUNCILMEN
Yeas Nays
Dalghsh
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10111 8-62
In Favor
Against
Adopted by the Council 19—
Approved 19—
Mayor
Council File No. 214419 —By .James J.
CITY OF ST.
Dalglish-
I 'prior
Resolved, That this Council's
NO,
= ICE OF THE C
Resolution designated C. F. No. 210017,
a r o v e,d November
rI
p p 20, 1962, as
amended by C. F. 'No. 210157, apprro roved
November 29, 11962, ppertaining tt
disposition
W0,U1
proposed by .sale of certain
City -owned real' estate, commonly de-
scribed as the Old Armory Building
and garage premises, more particularlydescr':-P_,1
as I . ,
I,o• t c6 2 _7 ..and 4, Block 5, Rice
a,anj Wit �r:L_ eition to St. Paul,
,W - -wytit •CSOta
�,1 e iW -L':.
th,
214"
RESOLVED, that this Council's pripr Resolution designated C. F.
No. 210017, approved November 20, 1962, as amended by C. F. No. 210157,
approved November 29, 1962, pertaining to the proposed disposition by
sale of certain City -owned real estate, commonly described as the Old Armory
Building and garage premises, more particularly described as
Lots 1, 2, 3, and 4, Block 5, Rice and Irvine's
Addition to St. Paul, Ramsey County, Minnesota,
according to the recorded plat thereof on file
and of record in the office of the Register of
Deeds in and for Ramsey County, Minnesota,
be and the same hereby is further amended in the following particulars, to -wit:
That there be and hereby is added to said prior Resolution designated
C. F. No. 210017 and inserted therein next before the last "Resolved" section
of the same the following:
"RESOLVED FURTHER, that the provisions of the next preceding "Resolved"
section shall apply to the case where the accepted bid incorporates the bidder's
proposal for the latter's payment of the full purchase price for the subject real
estate., without deferment, to said City, coincident therewith and4upon the
•--City's tender of a deed of conveyance conveying marketable title thereto-by
;said City unto said bidder; and that hereby authority is granted for the
City's sale of said real estate under alternate bids, either for the purchase
of the'same upon the basis that the full purchase price bid, without deferment,
hall be payable by the bidder to the City upon the latter's tender of such
aforesaid deed of conveyance of the same, or upon a deferred payment plan
under a contract for deed to be executed and delivered by the City, as vendor,
of the subject real estate, to the successful bidder, as vendee of the same,
provided that, in the event of any such sale and purchase under any such
deferred payment plan under any such contract for deed, there shall be no
deferment of the payment of the full purchase price for a period greater than
two years next after the date of the subject contract for deed and no less
than one -third part of the principal of the purchase price thereunder shall
be paid coincident with the delivery by the City to the bidder - purchaser of
the subject contract for deed, and that deferred payments of the balance-of the
COUNCILMEN
Yeas Nays
Dalghsh
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10111 8-62
In Favor
Against
Adopted by the Council 19—
Approved 19—
Mayor
ORIGINAL TO CITY CLERK
CITY OF ST. PAUL COUNCIL NO. (AAA
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION - GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
principal of such purchase price shall bear interest at the rate 'of not less
than six percent per annum thereunder. That in the event that such transaction,
sale, and purchase shall be consummated under a contract for deed, the contract
for deed shall be approved by the Corporation Counsel and shall be in conventional
form and incorporate, in addition to all essential provisions, a provision for
cancellation and forfeiture of payments made by the vendee thereunder to the
City as and for liquidated damages, in event of default of the vendee, upon
Minnesota statutory notice to be given by the City, as vendor, and the vendee's
failure to make good said default within the statutory period allowed therefor;
and that 6very:sizch bid shall be accompanied by certified check, in the nature
of a bidder's deposit, in at least ten percent of the amount of the full pur-
chase price bid, and shall comply with the specifications for formal bids
contained in the next preceding "Resolved" section, and such deposit shall
be forfeited to the City as and for liquidated damages, in the event that the
bidder shall fail to execute and _'duly comply with the provisions, terms, and
conditions of the subject contract for deed."
COUNCILMEN
Yeas Nays
Dalglish
Holland
- Iasss- .
NodWo—h
Peterson
n Favor
Rosen
Against
Mr. President, Vavoulis
ions M2
AUG 2 2 1963
Adopted by the Council 19—
AUG 2 2 1963