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2007-417
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2007-417
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Last modified
6/28/2016 1:46:18 PM
Creation date
9/30/2015 11:30:25 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/04/2007
Control Number
2007-417
Agenda Item Number
7.BB.
Entity Name
Michael T. Calvit,Trustee
Subject
Purchase Agreement , Recorded Deed
Area
South Prong of Sebastion River
Supplemental fields
SmeadsoftID
6713
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3 . 2 The County may at its option obtain a phase I environmental (hazardous materials) <br /> assessment of the Property no later than fifteen ( 15) days prior to closing . County shall within <br /> fifteen ( 15) days following receipt of the ESA deliver written notice to Seller of any environmental <br /> defects . The environmental status of the Property shall be deemed acceptable to County if (a) <br /> County fails to deliver notice of defects within the time specified , or (b) County delivers notice <br /> and Seller cures the defects within forty five (45) days from receipt of notice from County of title <br /> defects ("Curative Period ") . Seller shall use best efforts to cure the defects within the Curative <br /> Period and if the title defects are not cured within the Curative Period , County shall have thirty <br /> (30) days from the end of the Curative Period to elect, by written notice to Seller, to : ( i) to <br /> terminate this Agreement, whereupon shall be of no further force and effect , or (ii) extend the <br /> Curative Period for up to an additional 90 days ; or (iii) accept title subject to existing defects and <br /> 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 transfer the Property which is the <br /> subject matter of this Agreement, free and clear of all liens and encumbrances . <br /> 4 . 2 From and after the Effective Date of this Agreement , Seller shall take no action which <br /> would impair or otherwise affect title to any portion of the Property, and shall record no <br /> documents in the Public Records which would affect title to the Property, without the prior written <br /> consent of the County. <br /> 4 . 3 There are no existing or pending special assessments affecting the Property, which are or <br /> may be assessed by any governmental authority, water or sewer authority, school district, <br /> drainage district or any other special taxing district. <br /> 5 . Default. <br /> 5 . 1 In the event the County shall fail to perform any of its obligations hereunder, the Seller <br /> shall , at its sole option , be entitled to : (i) terminate this Agreement by written notice delivered to <br /> the County at or prior to the Closing Date and thereupon neither the Seller nor any other person <br /> or party shall have any claim for specific performance , damages , or otherwise against the <br /> County; or (ii) waive the County's default and proceed to Closing . <br /> 5 . 2 In the event the Seller shall fail to perform any of its obligations hereunder, the County <br /> shall , at its sole option , be entitled to : ( i) terminate this Agreement by written notice delivered to <br /> the Seller at or prior to the Closing Date and thereupon neither the County nor any other person <br /> or party shall have any claim for specific performance , damages or otherwise against the Seller; <br /> or (ii) obtain specific performance of the terms and conditions hereof; or ( iii) waive the Seller's <br /> default and proceed to Closing : <br /> 6 . Closing . <br /> 6 . 1 The closing of the transaction contemplated herein ("Closing " and "Closing Date") shall <br /> take place within 60 days following the Effective Date of this Agreement , subject to any <br /> 2 <br />
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