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DES:yc:1/2 7/7 8 ORIGINAL JAN 3 0, 1978 RESOLUTION NO. 7990 RESOLUTION APPROVING BID DOCUMENTS AND AUTHORIZING CALL FOR BIDS FOR SALE OF CERTAIN CITY-OWNED REAL PROPERTY, AND RESCINDING PARAGRAPH 1 OF RESOLUTION NO. 7981 WHEREAS, the City of Redwood City owns Lots 14 and 15, Block l, Farm Hill Subdivision No. 5, which lots, by reason of soil slippage, are distress property; and WHEREAS, the owner or owners of Lot 13, Block l, of said subdivision (which lot is adjacent to said City-owned lots) commenced an action entitled Prudential Guaranty Corporation, a California corporation v. City of Redwood City, et al. (S.M. Cnty Sup'r Ct. No. 204590) in which action Plaintiffs alleged damage to said Lot 13 and improvements thereon due to soil subsidence, compaction and slippage allegedly caused by the negligence of the City of Redwood City and/or its employees and agents, and further alleged damage by reason of inverse condemnation, said damages allegedly arising out of or in connection with the activities of the City in and upon, or in connection with said Lots 14 and 15; and WHEREAS, there have heretofore been presented to this Council a settlement agreement and a revised agreement, which agreements were approved by Resolution No. 7958 and Resolution No. 7981, respectively, providing for sale of said Lots 14 and 15 in connection with settlement of the aforementioned litigation; and WHEREAS, the parties who proposed to enter into the aforer.mentioned revised agreement (which superseded the prior agreement) have now concluded that it would be in their best interests not to proceed with said agreement; and WHEREAS, it has now been proposed that the above mentioned Lots 14 and 15 be offered for sale pursuant to public bid in con- junction with disposition of the aforementioned litigation, such that the purchaser of said lots shall, among other matters, agree '7990