HomeMy WebLinkAboutForman, Charles; 1912-05-01; HistoricalIt
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THIS AW IT, made and entered into the first day of by,
1912, by and between CUB. FORMAh", party of the first part, and SOUTH
COAST LND COWAA;Y, a corporation, pa.rtjr of the second part, VITliESSETB:
That the party of the first part does uy these presents hereby
constitute, e.ppoint axld employ the party of the second part as his sole
and exclusive asnt to sell the real property hereina-fter mentioned, upon
the terns and conditions of this agreement z.nd not otherwise, said real
property being situate in and along the San Luis Rey Valley aad on Palomar
buntain, in Sm Diego County, California, ad being particularly des-
cribed in a list hereunto annexed, marked "EXhioit An, and expressly made
a part hereof.
It is agreed that tke party of the second part shall cause to
be mainttxined, offices for the selling of said property, in Los Angeles,
California, rad nt such other places as it may deem advisa,'ule and shall
cause said property to be acivertised for sde, and shall diligently and
in good faith use all reasonawle efforts to sell such property, said. party
OS the second part cleing hereby granted perriiission and authority to employ,
subject Ix all the conditioiis, restricticns and limitations herein con-
J. mined, a sub-agent or sub-agents for the saBe of saic? property.
It is a,greec! thd said real property shall be sold by parig of
the second part, et prices to be fixed upon the same as follows, to-wit:
The said "&&bit A" hereunto attached is liererjy deemed to indicate the
COSL price of each separate tract of Ismi specified on mi6 list, to&,her
v;ith interost a.nd taxes thereon upon each respective parcel up to Kay 1,
1912; in no went shall the selling price of such tract of land net to
pa.rty of the first part, a, sm less than sail: cost price, 2.5 irdiczted
upon "Exhi bi tA" .
It is further understood and agreed that, a reedsonable proportion
of rents or incorcc frorc said lands received LIP to the date of sale shall
become the properLy of the part, of the first part a.s cornpensstion for
expenses and adminis tra.tion.
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It is understood a,nd agreed, however, anything to the contrary
no twi ths?anding, that in creating said sub-asncy or sulu-apyxi es, party
of the second part shall agree that the lard in each separate tract shall
be graded into cla.sses, ePch class to ue sold at a. different sale price,
provided only thPt the total selling price of each said tract, nets to
party of the first part, not less than the aggregate sm in "Exhibit A"
hereina.Dove mentioned .
It is agreed tha.t party of the first part s'm11 not be liable
€or axy costs or expenses whatsoever, incident to the rm,rketirLg, cr snle
of said la.nds, and that all of such expenses shall ue borne by party of
the second part, or by such suD=a.ent, or sub-agxits as it may employ.
It is of the essence of this contract that the party of the
firs:; p rt reserves from the said real property, the following described
propefby as lies east of %he west uoundary line of the 1'onserrn.tte Ranch
a,nd the Falomar Lountain all of which for the convenierice of this contra.&
is hereby desiGat;ed 8.9 "Reservation A", to-wit:
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"All the water, both surface and subterranean, of the San Luis Rey River and its tri mtaxi es a uove the inter- section of the sRid San Luis Rey River with the western boundariV of the ksnsarratte Ranch; TOGETHER with the ri$it
or in said river, or said tributaries, or eithsr, or any of them, and im ound snd reservoir .the waters thereof,
the ri&t to dewelop waters upon lands now belongin r b,
tunnels or wells, nith the right to install anti opera. e pumping plants tinereon; the ri ht to divert, lead and conduct a.wag all or a.ny part ob said waters at any or all such other points or point, or places vithin or withodt said ul;a',er-ehed, as ,art-- of the first art ma.7~ elect;*
contract described, except however that any -,urchaser of 1ond lyin east of the vtestern boundary of the Konserratte Ranch sha 1 oe allowed to uulp water for use oil the land acquired for irri +ion an domes5ic purposes dut not in
coritract. "
It is furthermore undersbod and a.greed that it is of the
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to co~is~ruct, 1 maiEta.in an& opera+* a dsn or dil:m, across
both surfam an '$3 sub-surface, storm and ordinary flow*
or hereafter ac uired ~y the party of the first par k , 1 above said poin 1 of intersec-hon, either b
TOGATi-li;R with afl de riparian rig R ts of %he lax& in this
excess of his nee F s -I as set forth in Reservation b of thig 8 .f
emence of this coiltract tha% the pmty of the first part further re-
serves from the lsnr3s described in szid ''Exhibit A", each md every parcel
d tract thereof, that my be sol6 or caused to be sold by parti- of the
second part, all surplus or excess of wter, over and above the amount
necessary to meet the requirenents of the land so conveyed for irrigition,
domestic or stock purposes.
For the purpose of making effective said reserva.tion, it is
agreed that each conveyance or contract, or a.greement a,ffecting said lands
or any part thereof, shall contain and have as a part thereof, by setting
forth the sane in full, tmd in ar3di tion to "Reservation A", which likewise
shall be set forth in full, the folloving clause, hereby designated as
"Reservation P, to-wi t:
"It is expressly undersbod and agreed that wahr shall not be dewloped on the land hereoy granted b
D artesian or surface wells, or otherwise, to be used on
hereby granted, for irription, domestic and stock purposes; and if such development is made by part r of the second art,
wa+m developed in excess of the requirements described in this ageernent sh@l become the property of the part-i of
l+.sed or conve ed to other lands for sale, T ease or use. And the party of the first part further reserves, excepts and retzms all rights of wiij for la,;t'in: and ~iaii~tai~ing pipes, pipe lines and aqueducts over ani across Etaid pre- mises, IEhich now, or ah any time hereafter, may be reason- a,bly required ta enable the party of the first part to take, collect, carry or conduct said excess or surplus water to other land:: , or to enable the party of tihe first, pqt to inspect, repair md rephce or alter, main- tain, enjoy and coiitrol, said pipe-lines and a.cqueducts."
It is further ageed that in all contracts or ageeinents
the
I i party of the fiht part, his heirs assigns or trahs f erees,
o i her lands, or in excess of the requirements of the lands
or by any other person, then acd in tha, 3 case the moun e of
the first, part, his heirs or assigns, and mzt be solc., 3
for Lhe s4e of said lads or any of i;'nm, providins for deferred pay-
:;ler?ts, at loast twenty-fin per cent. of the total purchase price shall
be gaid in caah, 3,nd total payments shall not be deferred for a loner
period from the date of sale than thee (3) years.
md conveyances, where the total purchase price is not paid in cash, and
the unpaid balance is socixred by mortpge at least fifty per ceiit. of the
purchase price shall be paid in cash, and such mortege shall not be for a
longer tern in ea.ch case than tnro (2) years from th3 date of said convey-
ance. All deferred payments, whether in agrements or mortgages, shall
bear interest at the rate of seven per sent. net per mnurfl, payable annually.
In the event of ssles
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It is further understood and agreed that on the makingof proper
pa,yments by purchasers and on their entering into proper agreements
or oblimtions in conformity to 't'ne terms and stipulations of this con-
tract, said party of the first part will duly exec-ate, acknowlede and de=
liver at the request of the party of +,he second part such proper convey-
ances or agreements for sale as mal be presented to him for that puqoso,
by party of the second part.
It, is further understood and agreed that pa,rty of the second
part shall have, and it is hereby granted and @veil the option to purchase
said lands, or any of said separate tracts, or any portion thereof, at the
prices and on the terms hereinabove indic3ted, tho prices 60 be equal to
the cost of said respoctivs tracts to first p3rty as herein determined as
of Lay lst, 1912, it being the intent of this instrument to create both a,
sellhg agency and an option to purchase, so that party of the second part
my ham the same rights ad privileges as regprds purchasing sa,id lands
as would any person, or persons, not pnrtiea of this agreement, and it being
further understood and agead, that s?.id option shall endure for the sme
period of time as the mid selling agency, and as hereinafter more particu-
larly set forth, time being Qf the essence hereof in each C~S.
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It is further agreed tihat ia consideration of the foreging, md
in consideration of the services of the party of the second part herein-
above agreed to be rendered, and for other valuable consideration, party of
the first part shall rerader to party of the second part, and party of the
secoiid part will receive from party of tne first part, commission or co~i-
pensation for its sBrvices hereunder, and iri the folloaing nanner, to-wit:
The party of the second part shall be entitled to any such sillil or sums as
it majr realize on the sde or" said lando in a price above that hereinauove
mentioned, and as set forth in "Wiuit A": provided however that should
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the second part- sell any of the land described under this option at a
profit over and above an mount equal to l07i of the price set forth in
"Exhibit A" to cover salesmen's commissions, plus expenses incident to
the sde, such profit shall be paid to the first pnrtjr to be applied
a@.inst the purchase priqe of the remaining unsold lands so that until
all of the lands mentioned in this option sha11 have been sold by +he
second part-j, and payment, rmde therefor to the fi-rst party, said second
party shall not be entitled to receive any profit arising fron the ssle of
said lands beyon2 an amount, sufficiient to pay the salesmen a 107; comnission
and reasonable expenses.
After sales of all the lands coverd by this agreement, but not
otherwise, party of the first part, as additional compensation to party
of the second part, will transfer, convey and confirm to party of the
second part, dl his right, title and interest iii and to any and all such
water rights hereinabove mentioned as intended to be reserved by the party
of the fii-st part from the conveyance to be m.de by virtue of this agree-
iflent,, as apply +&, or are anywise incident to, or arising out, of waters
discharging below the Vamer'a Ranch Dam so-called; that is to say, party
of the first part will, in such event, transfer, release, remise, quit-
claim and convey to party of the second part, its successors and assigns,
any and all of his riparian and other rights as regg,rds the waters dis-
charging below said Warfier's Dam, whether the flow of said waters be sub
terraneai? flow or otherwiw, including the rigit to divert such waters at
aay or all poiiits above the lands, or any part thereof, covered by ;his
ageemen5 and to condixt said waters +A other points, and, in ,qneral to
do any and a.11 things whatsoever as to such waters as are hereinabove
mentioned as beiag iiiteiided by party of the firs6 part to be reserved from
the conveyance herein provided for, of said San Luis Rey Lands; aril party
of the first part will transfer, assig and convey to party of the second
part, all rights of way ani other rights reserved from &id conveyance as
are necessary or proper for the use of parties of the second part in
developing or conducting s~ch waters as are hersby agreed to be conveyed
to it.
It is further understood and agreed that this agreement is made
expressly subject to all existing leases, or that may hereafter be msde
all easements, roads, ric-ts of way, etc., that may now be exisf;ing on
said property, the ripjnts and interests iii sa,id San Luis Rey lands, or in
any sild all transactions pertaining thereto to the Fletcher-Salmons In-
vestment Company, likewise of Carroll W. Gates, Vaile & &hes and the
estate of Walter Vail, deceased, as their respective interests my appear,
it being agsed thn5 the pmty of the secoiid part accepts 6he provision of
this agreement not only subject to silch ri<&ts a,nd interests, but assures
any ooligptions in the premises, due or to oecome due to Fletcher-Salmons
Inveshent Company, Carroll &Leg, Vai1 & Gates, or the estate of Walter
Vail, deceased,or any of thera,a.nd agrees to pay the saae if sach exist,
and to hold first ps.rtjr hamless therefrom
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It is understood and agreed th3,t the selling 3gency and option
herooy created s'mll endure until and incl.adingh'1a.y 1, 1913.
a.pncy sild said option are mutually declared to be created upon valilable
consideration, and to be coupled with an interest in the propertjr covered
by said agreemait, and to be irrevocable otherwise than as above specified
during the respective periods in this paragraph hersina,hve rrentioned.
Said
It is further understood and ageed that; the tracts of land
specified in said "Exhibit A" indicated by the nanes of the persons from
whom party of the first part acquired the sme, and that party of the first
part will forthwith famish to party of the second part, full and proper
descriptions of all of said properties.
It is furtmr understood and agreed that taxes and other expenses
of and charged on said lands from and after the &he hereof, excepting
those incident to the marketing of said 1alds, shall be borne by the
party of the first part, and it is further understood and agreed $ha$
+he prices fixed md determined, pursuant to tho terms hereof, accord-
ing to the cost of said lands up -b and includiag the date of this
a.,greement shall remain so fixed and determined anti1 the first day of
May, 1913.
111 WITT6&SS \iiHERiOP, the parties hereto have executed these
presents the day and year first hereinabove written.
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dXHIMIT n,(l
COST' OF SAfS LUIS WY LANDS MAY lst, 1912.
FROM 7/m!M WidCH TO BiiD IUCLUDIliG THX I@iJSSliRRAT TE RMiCI-I.
3.20 6, 7.77 / 2480.06
480 9.70 '> 4656 . 46
852.49 80 10 . 65
80 15.18 I 1214.61
800 19.36 v 15493.59
245 22.25 ', 5452.62
160 8.74 \. 1399.39 id
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h
160
\ 165
60 5
160
288
394
9092
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10.24 * 1639 . 25
104.87~17304.01""
46.47 28117.27
5.54 8b7.19
2.69 7111.17
L 71.51 ------p""28175.24 -
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,, ".6 / $272743.81
Mr. Kmp haviag agreed with Xr. Keller, President; of the South Coa,st Land Cornpan
being the amount agreed u-oon +XI oe added to the cost of the lwids .between the Uonserratte Ranch and the ocean, and upon consilltiiig Mr. Keller I decided to take it ?from the Sickler lands,
to deduct fr0r.q the price of lands between 'Jarner Eanch to and inclu 1 ing the Zonserratte Ranch the sum of $5,000.00 that
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