12/12/2017 - Laserfiche WebLink

Home Browse Search

2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the Property shall be $30,900.00 (Thirty Thousand and Nine Hundred 00/100 Dollars). The Purchase Price shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement, either by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his delegated authority. 2.2 Remainder Parcel. The subject remainder parcel is estimated to contain approximately 187,770 square feet or 4.3106 acres, after the proposed taking, which is below the minimum lot size requirement for a residential ranchette in the A-1 zoning district.The subject property currently contains a conforming single family residence,thus continued use would be allowed.After the taking if the subject site were to become vacant, it would not have adequate site area. The Seller is requesting from Indian River County to have the subject remainder site area considered adequate in size for ranchette development, if reduced by the proposed right-of-way taking. The remainder parcel would be considered a legal non-conforming parcel as so long as the non-conformity is not • increased, the parcel and house would be permitted to remain as such. 3. Title. Seller shall convey marketable title to the Property by warranty deed free of claims, liens, easements and encumbrances of record or known to Seller, but subject to property taxes for the year of Closing and covenants, restrictions and public utility easements of record provided (a) there exists at Closing no violation of any of the foregoing; and(b)none of the foregoing prevents County's intended use and development of the Property ("Permitted Exceptions"). 3.1 County may order an Ownership and Encumbrance Report or Title Insurance Commitment with respect to the Property. County shall within fifteen (15) days following the Effective Date of this Agreement deliver written notice to Seller of title defects. Title shall be deemed acceptable to County if(a)County fails to deliver notice of defects within the time specified, or(b) County delivers notice and Seller cures the defects within thirty (30)days from receipt of notice from County of title defects("Curative Period"). Seller shall use best efforts to cure the defects within the Curative Period and if the title defects are not cured within the Curative Period, County shall have thirty (30) days from the end of the Curative Period to elect, by written notice to Seller, to: (i) to terminate this Agreement, whereupon shall be of no further force and effect, or(ii) extend the Curative Period for up to an additional 90 days; or (iii) accept title subject to existing defects and proceed to closing. 4. Representations of the Seller. • 4.1 Seller is indefeasibly seized of marketable,fee simple title to the Property,and is the sole owner of and has good right, title, and authority to convey and transfer the Property which is the subject matter of this Agreement, free and clear of all liens and encumbrances. 2 • P16