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2010-027
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2010-027
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Last modified
4/9/2018 11:31:30 AM
Creation date
10/1/2015 1:58:46 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
01/19/2010
Control Number
2010-027
Agenda Item Number
12.I.2
Entity Name
Durwin, Margaret
Subject
Right-of-Way Acquisition 585 43rd Avenue Recorded Deed
Supplemental fields
SmeadsoftID
9555
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5 . Default . <br /> 5 . 1 In the event of a default by the County, the Seller shall be entitled, as its sole remedy hereunder, <br /> to terminate this Agreement. and neither the Seller nor any other person or parry shall have any <br /> claim for specific performance, damages or otherwise against the County. <br /> 5 . 2 In the event the Seller shall fail to perform any of its obligations hereunder, the County shall be <br /> entitled to : (i) terminate this Agreement by written notice delivered to the Seller at or prior to the <br /> Closing Date, and pursue all remedies available hereunder and under applicable law; (ii) obtain <br /> specific performance of the terms and conditions hereof, or (iii) waive the Seller' s default and <br /> proceed to Closing : <br /> 6 . Closin . <br /> 6 . 1 The closing of the transaction contemplated herein ("Closing" and " Closing Date") shall take <br /> place within 45 days following the Effective Date of this Agreement. The parties agree that the , <br /> 4(" <br /> Closing shall be as follows : <br /> T <br /> (a) The Seller shall execute and deliver to the County a warranty deed conveying marketable title to f <br /> the Property , free and clear of all liens and encumbrances and in the condition required by paragraph <br /> 3 . <br /> (b) The Seller shall have removed all of its personal property and equipment from the Property and <br /> Seller shall deliver possession of the Property to County vacant and in the same or better condition <br /> that existed at the Effective Date hereof. <br /> (c) If Seller is obligated to discharge any encumbrances at or prior to Closing and fails to do so , <br /> County may use a portion of Purchase Price funds to satisfy the encumbrances . <br /> (d) The Seller shall deliver to the County an affidavit, in form acceptable to the County, certifying <br /> that the Seller is not a non-resident alien or foreign entity, such that the Seller and such interest <br /> holders 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 instruments as <br /> may reasonably be required to close this transaction. <br /> 7 . Pro -rations . All taxes and special assessments which are a lien upon the property on or prior <br /> to the Closing Date (except current taxes which are not yet due and payable) shall be paid by the <br /> Seller. If the Closing Date occurs during the time interval commencing on November 2 and ending <br /> on December 31 , Seller shall pay all current real estate taxes and special assessments levied against <br /> the Property, prorated based on the "due date" of such taxes established by the taxing authority <br /> having jurisdiction over the Property. If the Closing Date occurs between January 1 and November <br /> 1 , the Seller shall, in accordance with Florida Statutes Section 196 . 295 , pay an amount equal to the <br /> current real estate taxes and assessments , prorated to the Closing Date . <br /> 8 . 0 Miscellaneous , <br /> 8 . 1 Controlling_Law. This Agreement shall be construed and enforced in accordance with the laws of <br /> the State of Florida. Venue shall be in Indian River County for all state court matters , and in the <br /> Southern District of Florida for all federal court matters . <br /> F :\Engineering\Robert Webb\43rd ave . capital\DURWIN43RDApVERETENTpurchaseagree. doc <br />
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