Las Vegas City Commission Minutes, May 14, 1929 to February 11, 1937, lvc000003-442

On motion of Commissioner Marble seconded by Commissioner Farnsworth the following Resolution was introduced and passed: The City of Las Vegas having heretofore purchased for highway purposes all of Block Five (5) in South Addition to the City of Las Vegas for the sum of Five Hundred Ten ($510.00) Dollars, and a certain portion thereof and all that is necessary having been dedicated to highway purposes and the remainder of the said lot being inadequate for any further City use and purpose, and Alex J. Mackie, Senior, having offered to the City the sum of Twelve Hundred Fifty ($1250.00) Dollars, for the remainder of the said land after reserving so much as is necessary for highway purposes, and It appearing to the Board that the price so offered is commensurate with the value thereof and it is, in the opinion of the Board, for the best interest of the City that the said land be sold for that price, Four Hundred Twenty ($420.00) Dollars of which purchase price having been delivered to the City, and the said Alex J. Mackie, Senior, having agreed to pay the remainder and residue of the said sum of Eight Hundred Thirty ($830.00) Dollars on before one (1) year from date, now, therefore, it is Ordered that the Mayor and City Clerk execute for and on behalf of the City and escrow agreement, a copy of which is hereunto annexed, and that concurrently with the execution of the said escrow agreement execute a bargain and sale deed coveying to the said Alex J. Mackie, Senior, the following described property, to-wit: All of lots, twenty-five (25) to Thirty-two (32) inclusive, of Block five in South Addition to he City of Las Vegas, excepting the following described land, which has been dedicated to highway purposes: A Portion of all lots embraced in Block 5, referred to as Set forth in a map of the City of Las Vegas as complied by C.D. Baker as of November, 1939. Beginning at the intersection of the proposed easterly 40 foot right of way line and the northerly boundary of Lot 32 of Block 5, said point of beginning described as being S. 62 06' E. a distance of 28.00 feet from the northwest Corner of said Lot 32 of Block 5, thence from a tangent, which bears #. 7 58' W. curving to the left with a radius of 460 feet, through an angle of 4 29' a distance of 36.00 feet to a point thence S. 3 29' a distance of 210.00 feet to a point, thence N. 68 31' W. along the southerly boundary of Lot 25 of Block 5 a distance of 80.00 feet to a point, thence N. 3 29' E. returning along the proposed westerly 40 foot right of way line a distance of 134.00 feet to a point, thence No. 27 54' E. along the westerly boundary of Block 5 a distance of 137.00 feet to a point, thence S. 62 06' E. along the northerly boundary of Lot 32 of Block 5, a distance of 28.00 feet to the point of beginning. Said Right of Way for Public Street containing 0.39 acres more of less. The said deed to be delivered to the Pioneer Title Insurance & Trust Company immed­iately for delivery to Alex J. Mackie, Senior, in the event only, he pays to the Pioneer Title Insurance and Trust Company, the sum of Eight Hundred Thirty ($830.00) Dollars on or before one (1) year from date thereof: otherwise the said deed shall be returned to the City of Las Vegas. BY______________________________ Pioneer Title Insurance and Trust Company. Pioneer Title Insurance and Trust Co; Las Vegas, Nevada. Gentlemen; You are hereby designated as the escrow holder for the purpose of executing the following contract: I, Alex J. Mackie, Senior, hereby agree to purchase from the City of Las Vegas The Easterly part of Block Five (5) of the South Addition of the City of Las Vegas, as shown by map thereof in Book 1 of Plats, page 51, in the office of the County Recorder of Clark County, Nevada, being all of lots Twenty-five (25) to Thirty-two (32) inclusive, lying Easterly of the highway now being constructed through said block, also that part of Block Five (5) lying Westerly of said highway, for the sum of Twelve Hundred Fifty Dollars ($1250.00), Four Hundred Twenty Dollars ($420) of said price cash, and the balance of Eight Hundred Thirty Dollars ($830.00) payable on or before one year from date, with interest at the rate of Four Per Cent (4%) Per Annum, payable quarterly. The said sum of Four Hundred Twenty Dollars ($420.00) has been paid to the City of Las Vegas, and I agree to pay the balance on or before one year from date to the Pioneer Title Insurance and Trust Company in escrow. Said escrow holder is hereby instructed to use and pay over said money to the City of Las Vegas when it was received a good and sufficient deed conveying to Alex J. Mackie, Senior and Luisa Jane Mackie, husband and wife, as joint tenants, the property above descri­bed above, and when you can issue a policy of title insurance in the usual form in the sum of Twelve Hundred Fifty Dollars ($1250.00), showing said property vested as above stated, free and clear of encumbrances, except: 1. Usual reservations contained in the patent from the State of Nevada. 2. Restrictions and reservations usual to this tract. 3. Any taxes or assessments levied subsequent to this date. The City of Las Vegas acting herein by and through its duly authorized officers, agrees to sell to Alex J. Mackie, Senior the above described property on the terms and conditions above mentioned and hand you herewith deed duly executed, which you are hereby instructed to use and deliver when you have received for the City's account the sum of Eight Hundred Thirty ($830.00) Dollars, provided the said sum shall be received within the period of one (1) year from the date hereof, which said sum, less the usual title and escrow fees, shall be transmitted to the City of Las Vegas for the City's use. It is understood and agreed that time is of the essence of this agreement, and should the said Alex J. Mackie, Senior, fail or refuse to make payment on Eight Hundred Thirty ($830.00) Dollars within the period of one (1) year from the date the said City of Las Vegas shall be released from any obligations in law and equity to convey the said property as above mentioned, and upon the failure of the said Alex J. Mackie, Senior to make the said