#2950- Deed; WARRANTY DEED Parcel “A” Beginning At SE Corner Of Lot 166 Then W Along S Line Of Lot 166 For 122’ Then NE To A Point On The North Line Of Lot 166 And 69’ W Of The NE Corner Of Lot 166 (Part 3)

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i7/ NCI16I 1F LEGAL DEPARTMENT V� INTEROFFICE MEMORANDUM E1 1 �.x TO: MARCO MARIANI DAT o- AuW41s ,,o a,99 6�' t{ S� PLANNER mo lily °Of pi�eerinS `�` FROM: JENNY PITTS MANIER co do CHIEF ASSISTANT CIT ATTORNEY RE: RICK MILTON I understand that Rick Board of Public Works to purchase Development Area. I assume you the sale of these properties to the case. Milton has made a request of the two (2) lots in the Sample -Ewing are aware of this and approve of him. Let me know if this is not I have discussed Mr. Milton's request with Assistant City Attorney, Anne Bruneel, and have filled her in, a bit, on your work with Mr. Milton. In order to convey the parcels in question to Mr. Milton's company, American Home Dreams, without going through a formal public bidding process, Mr. Milton will have to provide proof that American Home Dreams is exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code. I would ask that you please contact him and ask him to provide Angie Jacob with verification of American Home Dreams' 501(c)(3) status. I also note that the Department of Redevelopment has procured title insurance commitments for each of the properties. These commitments indicate the presence of title exceptions that will require the filing of a quiet title action. Depending upon whether we have addresses for the defendants to such an action, the time involved in prosecuting such an action from start to finish can run from about 30 days (if we have addresses) to seventy (70) days (if we do not have addresses and have to serve the defendants by publication in the newspaper). Either the City (prior to the transfer of the property to American Home Dreams) or American Home Dreams (after the transfer to it of the City property) will have to file a quiet title action. I assume American Home Dreams may not be able to secure mortgage financing until after a court quiets the title to the properties, I would prefer that the City pursue the quiet title actions and only after these actions have been resolved transfer title to American Home Dreams. Finally, as we have discussed, it is my recommendation that the properties be sold to American Home Dreams pursuant to a Contract for Sale of Land such as is used by the Department of Redevelopment, with performance criteria and deadlines established. Call if you have questions. o(, - -u �� 0Ub