6/28/2016 1:46:18 PM
9/30/2015 11:30:25 PM
Official Document Type
Agenda Item Number
Michael T. Calvit,Trustee
Purchase Agreement , Recorded Deed
South Prong of Sebastion River
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J ` v V <br /> AGREEMENT TO PURCHASE AND SELL REAL ESTATE � O o 7 ` L// 7 <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made <br /> and entered into as of the _ day of November, 2007 , by and between Indian River County, a <br /> political subdivision of the State of Florida (" County') , and Michael T. Calvit, Trustee , 650 Azalea <br /> Lane, #B , Vero Beach FL 33963 ("Seller") , 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 in Indian River County, State of Florida <br /> and more specifically described on Exhibit "A" attached hereto and incorporated by this <br /> reference , and any improvements thereon , together with all easements , rights and uses now or <br /> hereafter belonging thereto (collectively, the " Property") . The Tax ID number of the Property is <br /> 00-30-38-00001 -0220-00032 . 3 . <br /> 2 . Purchase Price , Effective Date The purchase price (the " Purchase Price ") for the <br /> Property shall be Thirty Eight Thousand Five Hundred Dollars ($ 38 , 500) . The Purchase Price <br /> shall be paid on the Closing Date . The Effective Date of this Agreement shall be the date upon <br /> which the County shall have approved the execution of this Agreement, either by approval by the <br /> Indian River County Board of County Commissioners at a formal meeting of such Board or by <br /> the County Administrator pursuant to his delegated authority. The County shall have thirty (30) <br /> days to approve this Agreement from the date seller signs and delivers this Agreement to the <br /> County, failing which this Agreement shall be null and void . The County has paid the Seller at <br /> execution of this Agreement a deposit of $ 1 , 000 , which shall be credited to the County at <br /> closing . The deposit shall be returned to the County if this Agreement is not approved by the <br /> County as set forth in this paragraph , or upon default of the Seller. <br /> 3 . Title and Environmental Assessment Seller shall convey marketable title to the Property <br /> by warranty deed free of claims, liens, easements and encumbrances of record or known to <br /> Seller; but subject to property taxes for the year of Closing and covenants , restrictions and public <br /> utility easements of record provided (a) there exists at Closing no violation of any of the <br /> foregoing ; and (b) none of the foregoing prevents County's intended use and development of the <br /> Property ("Permitted Exceptions") . <br /> 3 . 1 The County shall no later than fifteen ( 15) days prior to closing obtain a Title Insurance <br /> Commitment with respect to the Property. County shall within fifteen ( 15) days following receipt <br /> of the Title Insurance Commitment to 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 forty five (45) days <br /> from receipt of notice from County of title defects (" Curative Period ") . Seller shall use best <br /> efforts to cure the defects within the Curative Period and if the title defects are not cured within <br /> the Curative Period , County shall have thirty (30) days from the end of the Curative Period to <br /> elect, by written notice to Seller, to : (i) to terminate this Agreement , whereupon shall be of no <br /> further force and effect, or ( ii) extend the Curative Period for up to an additional 90 days ; or ( iii) <br /> accept title subject to existing defects and proceed to closing . <br /> 1 <br />
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