Action on Sale of Clinton Keith Parcel

Building Investigative Committee Motion for the Sale of the Clinton Keith Property

 “ Resolved, that the Southern California-Nevada Conference of the United Church of Christ, Alta Dena, California, being title holders to the 7 acre parcel at Clinton Keith and Greer Roads, Murrieta, California, be authorized to accept the terms and conditions included in counter offer 5 of the real estate offer to buy as presented by Wil Cucuta, Realtor, with Rancon Real Estate, Commercial Division, our agent, with such terms and conditions summarized as follows:

-Sale price of $1.4 Million

-UCV to have a 60 day due diligence period from acceptance of offer to clear all seller’s contingencies specified in the offer to buy

-Buyer to have a 120 day due diligence period from acceptance of offer to clear all buyer’s contingencies specified in the offer to buy, at which time a non-refundable deposit of $25,000 will be made by Buyer to UCV

-Close of Escrow to be 30 days from the date all contingencies are cleared.

-Buyer may have up to two 30 day Close of Escrow extensions, with a non-refundable deposit of $10,000 made by Buyer to UCV for each extension requested; and

Resolved, that UCV as Seller fulfill the following actions pursuant to acceptance of this offer to buy:

-UCC be responsible for sales commission of 6% of sales price

-UCV to pay off land loan balance ($26,110.40 as of April 30, 2009) during escrow close

-During 60 day Seller Due Diligence, UCV shall act:

-to determine if sale of this property is adequate to support the purchase of a permanent site for UCV activities which is suitable in size, form, function and financial abilities to meet UCV’s worship and outreach needs

-to obtain necessary Conditional Use permits from the City of Murrieta to operate at the new site as a church

-to negotiate with the new site Seller to arrive at a suitable purchase price and to bring that price and related conditions before the UCV membership for approval to buy in a subsequent UCV Special Congregational Meeting to be scheduled for the Sunday preceding the 60^th day from execution of the real estate agreement to sell the Clinton Keith parcel; and

Resolved, that UCV, when it takes title to the new property identified during the 60-day due diligence period, will include a reversionary clause to Southern California-Nevada Conference of the United Church of Christ in order to ensure that the asset always is used for the benefit of the United Church of Christ.  UCV takes this action as partial recognition of its covenant relationship to the United Church of Christ, and to the resources given to UCV initially to create a new UCC church in Murrieta.”

-Discussion

-Vote (Vote by Ballot will be entertained)