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2008-113
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2008-113
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Last modified
3/29/2016 11:23:56 AM
Creation date
10/1/2015 12:05:06 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
04/08/2008
Control Number
2008-113
Agenda Item Number
13.A.
Entity Name
Donald and JoAnn Staxzewski
Subject
Purchase property expansion of 58th Ave.
Area
1940 58th Ave.
Supplemental fields
SmeadsoftID
6959
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2 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County , <br /> and the County hereby agrees to purchase from Seller, upon the terms and conditions set <br /> forth in this Agreement , that certain parcel of real property located at 1940 58th Avenue <br /> Vero Beach , Florida and more specifically described in the sketch and legal description <br /> attached as Exhibit "A" , containing approximately 0 .459 acres , and all improvements <br /> thereon , together with all easements , rights and uses now or hereafter belonging thereto <br /> (collectively, the " Property") . <br /> 2 . 1 Purchase Price , Effective Date . The purchase price (" Purchase Price") for the <br /> Property shall be one million four hundred fifty thousand dollars ($ 1 ,450 , 000 . 00) The <br /> purchase price was established by an MAI appraiser. The County shall pay and Seller <br /> shall accept the appraised value as the Purchase and Sale price of the Property. The <br /> 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 <br /> Agreement, either by approval by the Indian River County Board of County Commissioners <br /> at a formal meeting of such Board or by the County Administrator pursuant to his delegated <br /> authority . <br /> 3 . Title . Sellers shall accept the appraised value of $ 1 , 450 , 000 . 00 as the purchase <br /> price and convey marketable title to the Property by warranty deed free of claims , liens , <br /> easements and encumbrances of record or known to Sellers ; but subject to property taxes <br /> for the year of Closing and covenants , restrictions and public utility easements of record <br /> provided (a) there exists at Closing no violation of any of the foregoing ; and (b ) none of the <br /> foregoing prevents County's intended use and development of the Property (" Permitted <br /> Exceptions ") . <br /> 3 . 1 County shall order a Title Insurance Commitment and Policy with respect to the <br /> Property from Barkett Law, Dominion Title Company as agent for Chicago Title Insurance <br /> Company in the amount of the purchase price. County shall within fifteen ( 15) days <br /> following the Effective Date of this Agreement deliver written notice to Sellers of title <br /> defects . Title shall be deemed acceptable to County if: <br /> (a) County fails to deliver notice of defects within the time specified , or <br /> (b) County delivers notice and Sellers cure the defects within thirty (30) days from receipt <br /> of notice from County of title defects (" Curative Period ") . <br /> Sellers shall use their best efforts to cure the defects within the Curative Period and if the <br /> title defects are not cured within the Curative Period , County shall have thirty (30) days <br /> from the end of the Curative Period to elect, by written notice to Sellers , to : <br /> (i) to terminate this Agreement, whereupon shall be of no further force and effect, or <br /> (ii) extend the Curative Period for up to an additional 90 days ; or <br /> (iii) accept title subject to existing defects and proceed to closing . <br /> 4 . Representations of the Sellers . <br /> 4 . 1 Sellers are indefeasibly seized of marketable , fee simple title to the Property, and <br /> 2 <br />
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