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terminate either on the date of death of said Seller, or upon the <br />vacation of said premises by said Seller for a period of sixty <br />(60) days or more, or upon mutual agreement of the parties <br />whichever date shall be the first to occur. That title to said <br />property shall be subject to the approval of the Director of Law; <br />that real estate taxes and assessments shall be pro rated either <br />as of the date said ~larranty Deed is filed for record or date <br />Seller's terminable estate is terminated, whichever date is the <br />latter to occur, using the last available tax rate and valuation <br />for computing the tax pro rations; that the Director of Finance <br />be and he is hereby authorized to pay the amount set forth in <br />Section 1 hereof from the 1984 Community [~velopment Block Grant <br />Funds upon delivery by the Grantor of a good and sufficient <br />Warranty Deed to the City of Lakewood, together with guarantee of <br />title disclosing the said real estate to be free and clear of all <br />encumbrances except as herein above set forth; and that the <br />Director of Finance be and he is hereby authorized to pay the <br />City's share of expenses incidental to the completion of the <br />purchase including the cost of recording the deed, one half of <br />the escrow fee and pro rata share chargeable to the City as <br />purchaser. <br /> <br />Section 3. That this ordinance is hereby declared to be an <br />emergency measure for the reasons stated in the preamble hereof <br />and provided it receives the affirmative vote of two-thirds of <br />all members elected to Council, it shall take effect and be in <br />force immediately upon its adoption and approval by the Mayor. <br /> <br /> /¥V ' President ~ <br /> <br />Clerk' - <br /> <br />~rApprov ed / <br /> <br /> <br />