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2228
<br />RESOLUTION.
<br />Trustee Tuehsen offers the following Resolution and moves its adoption,Trustee Kreiss
<br />seconds the motion,
<br />`
<br />Resolved, b the Board of Trustees'))
<br />'r of the Town of Redwood City, that I
<br />Whereas, on the 3rd day of April,
<br />i 1920, the Town of Redwood City enter-
<br />ed into , a written agreement' with S.
<br />H. Frank•& Co„ a corporation, relative
<br />' to the acquisition by paid Town of the',
<br />Peninsula Wharf and Warehouse prop-
<br />erty,from,said S. $. Frank & Co. and,
<br />t,the construction of a -spur track by
<br />said Town from Chestnut street to!
<br />said wharf property under the terms,
<br />i and conditions, in said, agreement pro- 4
<br />vided, which agreement is now on
<br />file with the First .National Bank of
<br />;-San Mateo County in escrow, a -copy],
<br />thereof being on file in the'oflice of the i
<br />i Clerk of said. Town of Redwood,,City;
<br />and hereas, under and Pursuant to j
<br />r the tWerms of said agreement said S. H,
<br />Frank & Co. executed and deposited in
<br />escrow with said 'above named bank, a
<br />t deed of said Peninsula 'Wharf and
<br />Warehouse property to said Town of
<br />Redwood City, said deed to be deliver-
<br />ed "upon the completion" of the con-
<br />ditions by'said Town of the terms of
<br />said escrow agreement; and Whereas,
<br />subsequent to the.placing of'said deed
<br />and, said, agreement, in escrow said
<br />Town, of Redwood City took up with
<br />said S. H. Frank & Co. the question of
<br />changing said deed so that same would
<br />convey said above- mentioned Wharf
<br />property to said Town in.fee free and
<br />clear, of, the conditions relating to rer
<br />version -now In said deed; and,
<br />Whereas, on the 27th day of Septem-
<br />ber, 1920, said Town of,Redwood City
<br />received from said S. H, Frank & Co.
<br />a written communication whgrein said
<br />S: H. Frank & Co: refused 'to make any i
<br />change in the present escrow deed j
<br />and agreement and asked said Town of
<br />Redwood City to pass the necessary
<br />resolutions' releasing said escrow and
<br />turning back to them said wharf prop-)
<br />erty; and
<br />Whereas,said Board of Trustees -
<br />deems that it is for the best interests
<br />of said Town of Redwood City to re-
<br />lease 'said escrow as requested by S.
<br />H, Frank & Co. rather than to go;
<br />through with same under the con
<br />ditions now in 'aid deed and 'agree-
<br />ment, I -
<br />kjow Therefore be, it Resolved by the
<br />Board of Trustees of the Town of Red- !
<br />wood City, that at the request and withal,
<br />the consent; of S. H. Frank & Co. a cor-
<br />poration, the escrow agreement here
<br />Wore made between said S. H. Frank';
<br />& Co., n corporation and said Town of
<br />Redweod City, doted April 3rd, 1020, 1
<br />and the deed thereafter made by.eaid•i
<br />ff S: H. Frank & Co., a corporation in;!
<br />Pursuance of said agreement, said. es
<br />crow, agreement and deed now being'
<br />In possession, under said escrow
<br />j agreement, of the First National
<br />Ban of San Mateo County, be and the
<br />same are released qua cancelled and:,
<br />made of no force and ,effect.
<br />AntVbe ,.it ,Further ,Resolved that
<br />said First National Bank,of San Mateo
<br />Comity, the escrow holder of said
<br />agreament and deed be and they are
<br />lierebY'requested and directed to re-
<br />turn to said S. H. Frank-& Co„ a,cor-
<br />poration, said escrow agreement and
<br />deed herebefore mentioned and des-
<br />cribed. ,
<br />4 And be it Further Resolied that n
<br />certified copy o4 this Resolution be
<br />given to. that S.' H. Frank & Co., a cor-
<br />1; poration and to the First National
<br />Bank of+.Sari Mateo County,.
<br />Pasced and adopted by the Board of Trustees of the To= of Redwood City at a regular meeting
<br />of said Board held on the Ist.day of ilovember,1920,by the following vote;
<br />Ayes and in favor of the passage of the foregoing Resoluttzon,Trustee,
<br />Carl K.I.abie,H.C.Tuchsen,Geo.l..I,:ellulty,Geo.A.K.reiss,I;I.E.Ryan.
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<br />Noes and against the passage of the foregoing Resolution,Trustees,
<br />None.
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<br />Absent,Trustee,idone.
<br />M. E. Ryan.
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<br />President of the Board of Trustees of the
<br />Toon of Reftood City.
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