7/21/2017 10:14:01 AM
7/21/2017 10:13:24 AM
Official Document Type
Agenda Item Number
Sebastian Corners Retail Center
Indian River North County Offices Relocation
1919 - 1931 US Highway 1 Sebastian
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AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br />BETWEEN INDIAN RIVER COUNTY <br />AND <br />SEBASTIAN CORNERS RETAIL CENTER, LLC <br />THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is <br />made and entered into as of the 18 day of July , 2017, by and between Indian <br />River County, a political subdivision of the State of Florida ("the County"), and Sebastian <br />Corners Retail Center, LLC, ("the Seller) who agree as follows: <br />WHEREAS, Seller owns property located at 1919 -1931 US Highway 1 Sebastian, <br />FL 32958. A legal description of the property is attached to this agreement as Exhibit "A" <br />and incorporated by reference herein; and <br />WHEREAS, the County is purchasing the retail center to relocate the Indian River <br />North County offices; and <br />WHEREAS, in order to proceed with the relocation, the County needs to purchase <br />the property located at 1919 -1931 US Highway 1 Sebastian, FL 32958; and <br />WHEREAS, the County contacted the Seller to purchase the property of <br />approximately 102,365 square feet or 2.35 acres of property as depicted on Exhibit "A", <br />and after negotiations with the County, the Seller has agreed to sell the property to the <br />County; <br />WHEREAS, the Parties agree this is an arm's length transaction between the Seller <br />and the County, without the threat of eminent domain. <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 1919 -1931 US <br />Highway 1 Sebastian, Sebastian, Florida 32958 and more specifically described in the <br />legal description attached as Exhibit "A", fee simple, containing approximately 2.35 acres, <br />all improvements thereon, together with all easements, leases rights and uses now or <br />hereafter belonging thereto (collectively, the "Property"). <br />2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the <br />Property shall be $2,650,000.00 (Two Million, Six Hundred and Fifty Thousand and 00/100 <br />Dollars). The Purchase Price shall be paid on the Closing Date. The Effective Date of this <br />Agreement shall be the date upon which the County shall have approved the execution of <br />Page 1 1 <br />
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