Las Vegas City Commission Minutes, May 26, 1952 to February 17, 1954, lvc000008-483

sufficient Grant Deed to said property, and also a policy to title insurance showing such property to be free and clear of any and all liens and encumbran­ces; and vesting clear title to said property in Buyer; (b) All taxes and assessments to be pro-rated as of the date of the close of said escrow. (c) Revenue stamps on deed to be paid for by Seller; (d) Costs of recordation of deed to be borne by Buyer; (e) Escrow costs to be borne equally by Seller and Buyer, in the usual manner. This proposal intends that the above purchase price of $255,000*00 shall be net to the Seller, save and except for those costs and fees specifically above set forth and in connection with the escrow covering the transaction, there being no other fees or commissions involved. The Buyer agrees that if this offer is accepted, together with the enclosed check for $25,500.00 and an escrow set up as outlined hereinabove and if the undersigned fails to make either or both of the subsequent payments of $100,000,00 and $125,500,00 as stated above, in such event, the undersigned agrees to forfeit to the City of Las Vegas any and all sums paid in this connection prior to his default in payment as liquidated damages. Titles may be taken in the name of Nevada Corporation to be designated by Buyer or a Nominee. It was the decision of the Board not to take any action until a full Board is pre­sent. Thereafter Commissioner Jarrett moved the meeting be recessed until 9:00 A.M., July 23, 1953, when a full Board will be present. Motion seconded by Commissioner Sharp and carried by the following vote: Commissioners Jarrett, Sharp, Whipple and His Honor voting aye; noes, none. Absent: Commissioner Bunker. There being no further business to come before the Board at this time, the meeting recessed until July 23, 1953 at 9:00 A.M. ATTEST: APPROVED: RECESSED NEGOTIATIONS Sale City Strip Property Las Vegas, Nevada July 23, 1953 A recessed special meeting of the Board of Commissioners of the City of Las Vegas, Nevada called to order at the hour of 9:00 A.M. by His Honor Mayor C. D. Baker this 23rd day of July, 1953 with the following members present: Mayor Commissioner Commissioner Commissioner Commissioner City Attorney Acting City Mgr. Deputy City Clerk C. D. Baker Wendell Bunker Rex A. Jarrett Harris P. Sharp Reed Whipple Howard W. Cannon A. H. Kennedy Grace Valenziano Absent: City Clerk Shirley Ballinger This being the time set for the continuation on the negotiations for the sale of City Strip Property, Mr. Clifford Jones and Mr. Paul Sogg were present to continue discussion on this matter. Mr. Jones stated that he and Mr. Sogg had been of the impression that this property included the Truck Route. Mr. Sogg changed his proposal to include the Truck Route and is as follows: To purchase the property owned by the City of Las Vegas located on U.S. Highway #91, south of Las Vegas, Nevada, and commonly known as and referred to as the City of Las Vegas Strip Property, which property consists of 477 feet of highway frontage and comprises approximately 50.00 acres, to line of proposed truck highway, for the sum of $275,000,00, payable in cash as follows: (a) Twenty Seven Thousand Five Hundred ($27,500.00) payable this date, such sum to be placed in an escrow to be set up to cover this transaction, said escrow to close within ninety days from the date of its opening: (b) The further sum of $100,000.00 to be paid into such escrow within thirty days from the opening date thereof; and (c) The balance of One Hundred Forty Seven Thousand Five Hundred Dollars to be paid into said escrow on or before ninety days from the opening of same. 7-22-53 & 7-23-53