Res59 2927 - Laserfiche WebLink

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• r • or option agreements, granting the City of Redwood City the option to purchase an easement for the construction, maintenance and operation of storm drainage facilities with rights of ingress and egress thereto over, under, on and in, for the following parcel: A portion of Lots 5, 6, 7 and 8, Block 2, Re- Subdivision of Lot 46, as designated on that map entitled "Re -Sub- division of Lot 46, Reese Subdivision," recorded May 11, 1911, in the Office of the Recorder of San Mateo County, California, in Book 7 of Maps at Page 40, being more particularly described as follows: BEGINNING at a point on the northeasterly line of St. Francis Street (formerly known as Sequoia Street), 55.0 feet in width, said point bears North 45° 30' West a distance of 54.93 feet from the most southerly corner of said Lot 8, Block 2; THENCE North 45 30 West along the northeasterly line of St. Francis Street and Lot 8, Block 2, Reese Subdivision, a distance of 25.00 feet; THENCE North 46° 31' 19" East a distance of 127.02 feet to the common boundary line of Lots 5 and 4, said Block 2; THENCE South 45° 30 East along the common boundary line of Lots 5 and 4, said Block 2, a distance of 25.00 feet to a point, said point bears North 45° 30' West a distance of 52.49 feet from the most easterly corner of said Lot 5, Block 2; THENCE South 46° 31' 19" West a distance of 127.02 feet to the TRuE POINT OF BEGINNING; said option agreement, or agreements, to be substantially in the form of those option agreements executed in connection with street improvement acquisition, to be executed for the consideration of Ten Dollars ($10.00) each, to be in effect for a term of twenty - five (25) years and to be exercised upon the payment of One Dollar (N1.00) by the City of Redwood City to the owner of record at the time the option is exercised. Execution and delivery of said option agreement shall be a condition precedent to the operation of the above paragraph 1. (b) No structure or permanent improvement of any type whatsoever shall be constructed or maintained upon any portion of the above described Lots 5, 6, 7 and 8 within 10 feet of the property described by the above option provisions. (c) The owners of the above described property shall ex- ecute an acknowledged written acceptance of the terms and condi- tions of this resolution. 3. The City Clerk of the City of Redwood City is hereby authorized to accept and record the above described option agree- ment on behalf of the City.