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1999-183
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1999-183
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Last modified
8/21/2023 2:27:25 PM
Creation date
8/21/2023 2:27:10 PM
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
07/13/1999
Control Number
1999-183
Entity Name
Annette R. Roberts, Trustee
Subject
Option Agreement for Sale and Purchase
Publicc Works Fleet Management Complex
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se <br />J <br />11 <br />Project•. Public Works Fleet Management Complex <br />Property Tax I.D. #: <br />OI'T'ION AGREEMENT FOR SALE AND PURCHASE <br />THIS AGREEMENT is made this /3'A day of V 1999, between <br />ANNETTE R. ROBERTS, TRUSTEE ("Seller") whose addres is 255 W 5181 Street, <br />Hialeah, Florida 33012, and INDIAN RIVER COUNTY, Florida, a political subdivision <br />of the State of Florida, ("Purchaser" and "County"), whose address is c/o Public Works <br />Department, 1840 25th Street, Vero Beach, Florida 32960. <br />1. GRANT OF OPTION. Seller hereby grants to Purchaser the exclusive option to <br />purchase the real property located in Indian River County, Florida, described ut Exhibit <br />"A", together with all improvements, easements and appurtenances ("Property"), in <br />accordance with the provisions of this Agreement. This Option Agreement becomes <br />legally binding upon execution by the parties but exercise of the option is subject to <br />approval by Purchaser and is effective only if Purchaser gives written notice of exercise <br />to Seller. <br />2. OPTION TERMS. The option payment is $10,000.00 ("Option Payment"). The <br />Option Payment will be forwarded to Seller within 10 days after execution of this <br />Agreement. The option may be exercised during the period beginning with the <br />Purchasers approval of this Agreement and ending on August 4, 1999 ("Option <br />Expiration Date"), unless extended by other provisions of this Agreement. In the event <br />the Purchase Price (as hereinafter defined in paragraph 3.A) is not available by the <br />Option Expiration Date, the period of exercise of the option may be extended until such <br />funds become available, not to exceed 30 days after the Option Expiration Date, by <br />written notice to Seller. <br />3.A. TOTAL PURCHASE PRICE. The total purchase price ("Total Purchase Price") <br />for the Property is THREE HUNDRED AND SIXTY SIX THOUSAND NINE HUNDRED <br />DOLLARS ($366,900.00) which, after reduction by the amount of the Option Payment, <br />will be paid by purchaser at closing to Seller or Sellers designated agent. The total <br />Purchase Price is subject to adjustment in accordance with paragraph 3_B. The <br />determination of the final Total Purchase Price can only be made after the completion <br />and approval of the survey required in paragraph 5. This agreement is contingent upon <br />its approval, and consequent approval of the Total Purchase Price, by Purchaser. <br />Should County's funds not be available for any reason, Purchaser or Seller may elect to <br />terminate this Agreement by written notice to the parties without liability to any party. <br />Conveyance of the Property in fee simple from Seller to County will take place at the <br />closing, in exchange for the payments to be made by Purchaser to Seller at closing as set <br />forth above in this paragraph 3.A. <br />3.B. ADTUSTMENT OF TOTAL PURCHASE PRICE. If prior to closing, Purchaser <br />determines that the Total Purchase Price stated in paragraph 3.A. exceeds the final <br />County approved appraised value of the Property, the Total Purchase Price will be <br />reduced to the final County approval appraised value of the Property. If the final <br />adjusted Total Purchase Price is less than 95% of the Total Purchase Price stated in <br />
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