5/13/2016 11:59:34 AM
9/30/2015 10:46:25 PM
Official Document Type
Agenda Item Number
Joyce A. McGregor trustee of McGregor Revocable Trust of Febr.20
Purchase Agreement Property
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r1 , <br /> AGREEMENT TO PURCHASE AND SELL RAs� RIM JJAL2J ;i ? , � ' <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made <br /> and entered into as of the le of April , 20072 by and between Indian River County, a <br /> political subdivision of the State of Florida ("County") , and Joyce A . McGregor, as Trustee of <br /> the McGregor Revocable Trust of February 2006 ("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 parcel of real property located at 8th Street, Vero Beach (see <br /> attached Exhibit "A ") County of Indian River, State of Florida and more specifically described <br /> on Exhibit "A" attached hereto and incorporated by this reference containing approximately <br /> 6 . 750 square feet. ( . 155 acres) and all improvements thereon , together with all easements, rights <br /> and uses now or hereafter belonging thereto ( collectively, the " Property ') . <br /> 2 . Purchase Price , Effective Date . The purchase price (the " Purchase Price") for the <br /> property shall be Ten-Thousand Eight-Hundred-fifty and 00/00 Dollars ($10, 850. 00) : The <br /> Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement shall be <br /> the date upon which the County shall have approved the execution of this Agreement, either by <br /> approval by the Indian River County Board of County Commissioners at a formal meeting of <br /> such Board or by the County Administrator pursuant to his delegated authority . <br /> 3. Title . Seller shall convey marketable title to the Property by warranty 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 . Title shall be <br /> deemed acceptable to County if (a) County fails to deliver notice of defects within the time <br /> specified , or (b) County delivers notice and Seller cures the defects within thirty (30) days from <br /> receipt of notice from County of title defects ("Curative Period ") . Seller shall use best efforts to <br /> cure the defects within the Curative Period and if the title defects are not cured within the <br /> Curative Period , County shall have thirty (30) days from the end of the Curative Period to elect, <br /> by written notice to Seller, to : (i) to terminate this Agreement, whereupon shall be of no further <br /> force and effect, or (ii) extend the Curative Period for up to an additional 90 days ; or (iii) accept <br /> title subject to existing defects and proceed to closing . <br /> 4 . Representations of the Seller. <br /> 4 . 1 Seller is indefeasibly seized of marketable , fee simple title to the Property, and is the sole <br /> owner of and has good right, title , and authority to convey and transferthe Property which is the <br /> subject matter of this Agreement , free and clear of all liens and encumbrances . <br /> F Tngineenng\Robert Webb\treascomtmcgregorgthstPurchwe Contract.doc - 1 - <br />
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