8/17/2016 11:55:19 AM
9/30/2015 9:29:39 PM
Official Document Type
Agenda Item Number
Fred H. and Edward P. Peterson
Right of Way land acquisition
3375 66th Ave.
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05 <br /> AJW Y <br /> AGREEMENT TO PURCHASE AND SELL REAL ESTATE / <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ( "Agreement" ) is made <br /> and entered into as of the 13thday of December , 200 5 , by and between Indian River <br /> County , a political subdivision of the State of Florida ( " County" ) , and Fred H . Peterson and <br /> Edward P . Peterson , ( collectively, " 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 , those certain parcels of real property located at 3375 66th Avenue , County of Indian <br /> River, State of Florida and more specifically described on Exhibits "A" and " B " , attached hereto <br /> and incorporated by this reference containing approximately 4 . 277 acres , and all improvements <br /> thereon , together with all easements , rights and uses now or hereafter belonging thereto <br /> ( collectively , the " Property" ) . Note : See Addendum To Agreement , attached hereto and <br /> incorporated by this reference . <br /> 2 . Purchase Price Effective Date . The purchase price (the " Purchase Price " ) for the <br /> Property shall be Four Hundred Six Thousand , Three Hundred Fifteen Dollars ( $406 , 315 . 00 ) . <br /> The Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement <br /> shall be the date upon which the County shall have approved the execution of this Agreement, <br /> either by approval by the Indian River County Board of County Commissioners at a formal <br /> meeting of 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 this Agreement shall <br /> be of no further force and effect , or ( ii ) extend the Curative Period for up to an additional 90 <br /> days ; or ( iii ) accept 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 transfer the Property which is the <br /> subject matter of this Agreement , free and clear of all liens and encumbrances . <br /> 5/20/2004F :\Public Works\Capital Projects\66th Avenue Agreements\Peterson1ll 1 -14-05 . doc <br /> 1Z5rVV& / To E . 12. Corr v7- <br />
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