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2005-239n
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2005-239n
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Last modified
7/28/2016 10:50:35 AM
Creation date
9/30/2015 8:57:39 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
07/12/2005
Control Number
2005-239N
Agenda Item Number
11.J.1
Entity Name
Willis and Joyce Littles, Eugene Idlette
Subject
Land Purchase Agreement
Supplemental fields
SmeadsoftID
5071
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(d ) If the Seller is a non - resident alien or foreign entity , Seller shall deliver to the County an <br /> affidavit , in a form acceptable to the County , certifying that the Seller and any interest holders <br /> are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980 . <br /> (e ) The Seller and the County shall each deliver to the other such other documents or <br /> instruments as may reasonably be required to close this transaction . <br /> 7 . 2 Prorations . All taxes and special assessments which are a lien upon the property on or <br /> prior to the Closing Date (except current taxes which are not yet due and payable ) shall be paid <br /> by the Seller. If the Closing Date occurs during the time interval commencing on November 2 <br /> and ending on December 31 , Seller shall pay all current real estate taxes and special <br /> assessments levied against the Property , prorated based on the "due date" of such taxes <br /> established by the taxing authority having jurisdiction over the Property . If the Closing Date <br /> occurs between January 1 and November 1 , the Seller shall , in accordance with Florida Statutes <br /> section 196 . 295 , pay an amount equal to the current real estate taxes and assessments , <br /> prorated to the Closing Date . <br /> 8 , Closing Costs ; Expenses . County shall be responsible for preparation of all Closing <br /> documents . <br /> 8 . 1 County shall pay the following expenses at Closing : <br /> 8 , 1 . 1 The cost of recording the warranty deed and any release or satisfaction obtained by <br /> Seller pursuant to this Agreement . <br /> 8 . 1 . 2 Documentary Stamps required to be affixed to the warranty deed . <br /> 8 . 1 . 3 All costs and premiums for the owner's marketability title insurance commitment and <br /> policy , if any . <br /> 8 . 2 Seller shall pay the following expenses at or prior to Closing : <br /> 8 . 2 . 1 All costs necessary to cure title defect(s ) or encumbrances , other than the <br /> Permitted Exceptions , and to satisfy or release of record all existing mortgages , liens or <br /> encumbrances upon the Property . <br /> 8 . 3 The Seller and County shall each pay their own attorneys ' fees . <br /> 9 . Miscellaneous . Seller has the option to utilize the provisions of Section 1031 of the IRS <br /> Code regarding tax free exchange , at no expense to the County . <br /> 9 . 1 Controlling Law . This Agreement shall be construed and enforced in accordance with the <br /> laws of the State of Florida . Venue shall be in Indian River County for all state court matters , <br /> and in the Southern District of Florida for all federal court matters . <br /> 9 . 2 Condemnation . In the event that all or any part of the Property shall be acquired or <br /> condemned for any public or quasi- public use or purpose , or if any acquisition or condemnation <br /> proceedings shall be threatened or begun prior to the Closing of this transaction , County shall <br /> have the option to either terminate this Agreement , and the obligations of all parties hereunder <br /> 3 <br />
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