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9/30/2015 10:48:15 PM
Official Document Type
Agenda Item Number
J. Patrick Schirard
Right-of-Way Acquisition Purchase Agreement
74th Ave. South of SR 60, Corner 12thSt.abd 74th Ave.
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AGREEMENT TO PURCHASE AND SELL R L HAL <br /> l <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made <br /> and entered into as of the .15 day of May , 2007 , by and between Indian River County , a <br /> political subdivision of the State of Florida ("County') , and <br /> J . Patrick Schirard , as Trustee of the J . Patrick Schirard Pre-Marital Assets Revocable Living <br /> Trust Dated June 15 , 2001 ("Sellers") , who agree as follows : <br /> 1 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County, and the <br /> County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this <br /> Agreement, that certain parcels , (2 ) of real property located at 74th Avenue, Vero Beach <br /> County of Indian River. State of Florida and more specifically described on Exhibit "A" attached <br /> hereto and incorporated by this reference containing approximately 44 , 092 . 30 square feet, 1 . 01 <br /> acres zoned A- 1 Agricultural ( 1 -unit to five acres) and all improvements thereon , together with <br /> all easements , rights and uses now or hereafter belonging thereto (collectively , the "Property ') . <br /> 2 . Purchase Price , Effective Date . The purchase price (the " Purchase Price") for the right-of- <br /> way plus improvements found to be located within the right-of-way boundary , shall be One <br /> Hundred-Forty-Five-Thousand Eight- Hundred-Thirty Dollars and 00/00 Dollars ($ 145 , 830 . 00) . <br /> The purchase price is based upon $70 , 000 . 00 per acre ( 1 . 01 acre , $70 , 700 . 00) plus the value of <br /> the improvements $75 , 130 . 00 , (see attached listing of improvements and values)" The Purchase <br /> Price shall be paid on the Closing Date . The Effective Date of this Agreement shall be the date <br /> upon which the County shall have approved the execution of this Agreement, either by approval <br /> by the Indian River County Board of County Commissioners at a formal meeting of such Board <br /> or by the County Administrator pursuant to his delegated authority. ` (see exhibit" B") <br /> 3 . Title . Seller shall convey marketable title to the Property by Trustees deed free of claims , <br /> liens , easements and encumbrances of record or known to Seller; but subject to property taxes <br /> for the year of Closing and covenants , restrictions and public utility easements of record provided <br /> (a) there exists at Closing no violation of any of the foregoing ; and (b) none of the foregoing <br /> prevents County's intended use and development of the Property (" Permitted Exceptions") . <br /> 3 . 1 County may order an Ownership and Encumbrance Report or Title Insurance <br /> Commitment with respect to the Property. County shall within fifteen ( 15) days following the <br /> Effective Date of this Agreement deliver written notice to Seller of "title defects" (as determined <br /> under the Uniform Title Standards promulaged by the Florida Bar) . Title shall be deemed <br /> acceptable to County if (a) County fails to deliver notice of defects within the time specified , or <br /> ( b) County delivers notice and Seller cures the defects within thirty (30) days from receipt of <br /> notice from County of title defects ("Curative Period ") . Seller shall use best efforts to cure the <br /> defects within the Curative Period , but without obligation to expend more than 15 % of the land <br /> value (exclusive of improvements) , and if the title defects are not cured within the Curative <br /> Period , County shall have thirty (30) days from the end of the Curative Period to elect, by written <br /> notice to Seller, to : (i) to terminate this Agreement, whereupon shall be of no further force and <br /> effect , or (ii) extend the Curative Period for up to an additional 90 days ; or (iii) accept title subject <br /> to existing defects and proceed to closing . <br /> 4 . Representations of the Seller. <br /> F:\Engineering\Robert WeWso66thaveproject\74th ave 12th to 4th\jpatricksbirardt74thave Purchase Contract.doc - I - <br />
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