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2011-172
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2011-172
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Last modified
2/15/2016 9:22:36 AM
Creation date
10/1/2015 4:56:04 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/16/2011
Control Number
2011-172
Agenda Item Number
8.NN.
Entity Name
Northern Trust NA
Subject
Agreement to Purchase Real Estate Intersection improvements High A1A
Right of Way Improvements
Area
SR A1 and 17th Street intersection
Alternate Name
Northern Trust Bank of Florida N>A>
Supplemental fields
SmeadsoftID
11667
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ORIGINAL <br /> AGREEMENT TO PURCHASE , SELL , AND LEASE REAL ESTATE 3. tJA <br /> BETWEEN INDIAN RIVER COUNTYa`/ <br /> AND <br /> NORTHERN TRUST, NA <br /> Formerly known as NORTHERN TRUST BANK OF FLORIDA N.A . <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is <br /> made and entered into as of the 16 day of August, 2011 , by and between Indian River <br /> County , a political subdivision of the State of Florida ("the County") , and Northern Trust <br /> Bank of Florida , NA , (" Seller") , who agree as follows : <br /> WHEREAS, Northern Trust Bank of Florida , NA, owns property located at 1630 <br /> Highway A1A , Vero Beach , Florida , attached to this agreement as Exhibit "A" and <br /> incorporated by reference herein ; and <br /> WHEREAS , the City of Vero Beach , is scheduled to improve the intersection of <br /> Causeway Boulevard and Highway A1A in the future and the road improvement will impact <br /> and affect Northern Trust, NA' s property; and <br /> WHEREAS , in order for the City of Vero Beach to proceed with its intersection <br /> improvement plans , the County needs to purchase property to be used as rigWof-way <br /> adjacent to Highway A1A; and <br /> WHEREAS , the County has contacted the Northern Trust , NA, of Vero Beach , and <br /> has offered to purchase a corner clip and a strip of land containing approximately 957 <br /> square feet�or 0 . 02 acres of property from Northern Trust, NA , to be used as right-of-way. <br /> WHEREAS , the County is prepared to take the Property by using its power of <br /> eminent domain ; and <br /> WHEREAS , Northern Trust, NA , and the County wish to avoid the risk, time and <br /> expense of litigation by entering into this agreement for sale and purchase of the Property; <br /> NOW, THEREFORE , in consideration of the mutual terms , conditions , promises , <br /> covenants and premises hereinafter, the COUNTY and SELLER agree as follows : <br /> 1 . Recitals . The above recitals are affirmed as being true and correct and are <br /> incorporated herein <br /> 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 1630 Highway AIA , <br /> Vero Beach , Florida and more specifically described in the legal description attached as <br /> Exhibit "A" , containing approximately 957 square feet or 0 . 02 acres , and all improvements <br /> 1 <br />
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