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40 <br />40 <br />IIndian River County <br />Oslo Riverfront South <br />FCT Project #99-055-P9A <br />Purchase from Emerson Estate <br />Contract #00 -CT -C7 -99 -9A -K2-055 <br />Date <br />® <br />Page 2 <br />Notes: <br />(1) Pursuant to memorandum from Henry Entreken to Caroline Sutton dated February 11, 2000, <br />the Maximum Approved Purchase Price is $310,000.00. <br />(2) The County paid the cost of the survey update up to a maximum of $2,000.00 and the <br />Seller paid the balance of the survey cost. <br />(3) Cost for appraisal, appraisal review, real estate fee, and environmental site assessment <br />recognized on Salama Development closing. Pursuant to the terms of the option agreement, the <br />Seller paid the cost of title insurance. <br />(4) Pursuant to the terms of the Conceptual Approval Agreement, as approved by Board action <br />of the Florida Communities Trust, the amount of the grant shall not exceed the lesser of <br />$872,500.00 or 50% of the total project cost. Total FCT share of project costs to date are <br />as follows: <br />Parcel Seller Date FCT Share of <br />Number Name Closed Total Project Costs <br />Salama Development $ 598,496.15 <br />Emerson Estate 156,980.00 <br />Diamond <br />Total to Date <br />$ 755,476.15 <br />The foregoing reconciliation of Purchasers' costs is hereby approved by the undersigned. <br />BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY <br />Fran B. Adams, Chairman <br />Date: April 4, 2000 <br />( i l <br />AoS I • V.+'JI•: 17 r.I I J�(�•. L:i <br />FLORIDA COMMUNITIES TRUST <br />Ralph Cantral <br />Acting Executive Director <br />Date: <br />