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Show City Council delays action on Escalante property Cedar City Corporation received re-ceived two bids for purchase of the Hotel El Escalante property proper-ty at bid opening held Thursday evening at the city and county building. Following the opening of the bids a motion was made to table a decision on bidding and Mayor Loren VVhetten an-1 nounced to the small group of j Interested citizens on hand that an attempt would be made by the council at their regular meeting to be held this evening. Neither bid, the Mayor indicated, in-dicated, were equal to the appraised value of the property. pro-perty. Following are the two bids and specific terms requested by each that undoubtedly prompted the request for delay in reaching a decision. BID ONE Carter Development Co. submitted a bid of $110,000. "Our proposed use for said property is lor a Motel -Cafe Complex. But we would not wish to to be restricted as tc what we build as long as il meets the zoning and building code. Payment Plan "If possible we would like to pay one-third down at time of purchase with the balance over a three-year period at a specified interest. We would also like the city to consider a leasing arrangement." A check for $loOO in earnest money accompanied the bid. BID TWO Lerin Porter: "We hereby submit an offer to buy Hotel El Escalante property on following fol-lowing terms and conditions. "1. $10,000 in cash attached hereto. "2. Total purchase price $135,000 with the building re- moved from premises, or $12d,- 000 if buyer removes the building. "3. Terms shall be cash, including in-cluding the above deposit to be paid prior to close of escrow. es-crow. Conditions Listed "4. This offer is subject to the following: (a- Buyers ability abil-ity to obtain a building permit per-mit to build a minimum of 50 motel units with resturant facilities, fa-cilities, (b) Buyers ability to obtain satisfactory financing 1 for the construction of said motor hotel. "5. In the event this offer is not accepted or if the offer Ls accepted and buyer is unable to satisfy themselves on the contingencies stated in paragraph para-graph four above, then this offer of-fer shall become null and void and seller shall return $10,000 deposit within 24 hours of notification of buyer." Actually a third bid for the facilities was received by the council. The bid was in the amount of $5.00 with two quarters, or 50 cents attached as down payment. The bid was signed by James M. Pollman, Gordon B. Heggie, Esq., and a third party whose name was not legibile. |