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2010-268
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2010-268
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Last modified
2/22/2016 1:35:23 PM
Creation date
10/1/2015 1:34:36 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
10/19/2010
Control Number
2010-268
Agenda Item Number
13.A.
Entity Name
Vero Estates LLC
Subject
Purchase Agreement Recorded Deed
Area
NE corner of CR 510 and 66th Avenue
Supplemental fields
SmeadsoftID
9226
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13 • A . <br /> AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ( "Agreement" ) <br /> is made and entered into as of the 19th day of October , 2010 by and <br /> between Indian River County , a political subdivision of the State of Florida 1801 27th <br /> Street , Vero Beach , FL 32960 ( " County" ) , and Vero Estates , LLC , 1111 Kane <br /> Concourse , Suite 401 F Bay Harbor Islands , FL 33154 ( " Seller" ) , who agrees as follows : <br /> 1 . Agreement to Purchase and Sell and Grant The Seller hereby agrees to sell to <br /> the County , and the County hereby agrees to purchase from Seller, upon the terms and <br /> conditions set forth in this Agreement , a parcel of real property located at the northeast <br /> corner of County Road 510 and 66th Avenue , Indian River County and more specifically <br /> described in Exhibit "A" attached and incorporated by reference herein . Parcel 213 <br /> ( Exhibit "A" ) contains approximately 30 , 149 square feet or 0 . 69 acres , and shall be used <br /> as right-of-way for the County' s CR 510 Improvement Project . Seller further agrees to <br /> grant to the County a perpetual , non - exclusive easement for access and drainage over <br /> Parcel 500 described in Exhibit " B " attached hereto containing approximately 3 acres <br /> located at the northeast corner of County Road 510 and 66th Avenue , Indian River <br /> County to be used as a joint stormwater retention pond for the County' s 66th Avenue <br /> improvement project and Seller' s remainder parcel . Seller' s remainder parcel is defined <br /> as the real property owned by Seller at the northeast corner of County Road 510 and <br /> 66th Avenue , Indian River County less Exhibits "A" and " B " and referred herein as <br /> " Remainder Parcel " . Parcels 213 and 500 shall collectively be referred to as " Property" • <br /> 2 . Purchase Price , Effective Date . The purchase price (the " Purchase Price " ) for <br /> the Property ( Parcels 213 and 500 ) shall be Two Hundred Forty Thousand Dollars <br /> ( $ 240 , 000 . 00 ) . The Purchase Price shall be paid on the Closing Date . The Purchase <br /> Price is inclusive of all expert witness fees , costs and attorney' s fees incurred by Seller. <br /> The Effective Date of this Agreement shall be the date upon which the County shall <br /> have approved the execution of this Agreement , by approval by the Indian River County <br /> Board of County Commissioners at a formal meeting of such Board . <br /> 3 . Title to Parcel 213 . Seller shall convey marketable title to Parcel 213 by warranty <br /> deed free of claims , liens , easements and encumbrances of record or known to Seller; <br /> but subject to property taxes for the year of Closing and subject to covenants , <br /> restrictions and public utility easements of record provided ( a ) there exists at Closing no <br /> violation of any of the foregoing ; and ( b ) none of the foregoing prevents County' s <br /> intended use and development of Parcel 213 . <br /> 3 . 1 County may order an Ownership and Encumbrance Report with respect to <br /> Parcel 213 . County shall , within thirty ( 30 ) days from receipt of the Ownership <br /> and Encumbrance Report , deliver written notice to Seller of title defects . Title <br /> shall be deemed acceptable to County if ( a ) County fails to deliver notice of <br /> defects within the time specified , or ( b ) County delivers notice and Seller cures <br /> the defects within thirty ( 30 ) days from receipt of notice from County of title <br /> defects ( " Curative Period " ) . In no event will Seller be required to spend more <br /> than three ( 3 % ) percent of the Purchase Price or file suit to cure title defect , but <br /> 1 <br />
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