Laserfiche WebLink
ADDENDUM TO CONTRACT <br />THIS ADDENDUM TO CONTRACT dated this 4th day of R vomer , 2025, is <br />attached to and made a part of that certain Commercial Contract of even date herewith (the <br />"Contract") by and between INDIAN RIVER COUNTY, as "Buyer", and ISLAND MANOR <br />DEVELOPMENT, LLC, a Florida limited liability company, as "Seller In the event of any <br />conflict or inconsistency between the terms and provisions of the Contract and this Addendum to <br />Contract (the "Addendum"), the terms and provisions of this Addendum shall be construed to <br />control and prevail. Capitalized terms appearing in this Addendum shall have the same meaning <br />as said terms are given within the Contract. The Contract and this Addendum are hereinafter <br />sometimes collectively referred to as the "Agreement". <br />1. AMENDMENTS TO CONTRACT: The parties agree as follows: <br />a. The first sentence of Section 4(a) of the Contract is hereby <br />amended and restated as following: This transaction shall close within twenty (20) days <br />following expiration of the Due Diligence Period. <br />b. Section 4(b) of the Contract is hereby amended such that of the <br />Contract is hereby amended such that the parties hereby agree that this transaction shall be <br />closed in Indian River County or St. Lucie County, Florida at the law offices of Dean, Mead, <br />Minton & Moore (in such county), or as otherwise agreed upon between the parties and approved <br />by title agent. <br />C. The first paragraph in Section 6 of the Contract is hereby amended <br />such that Seller shall convey the Property to Buyer by a Special Warranty Deed. <br />d. Section 6(a) of the Contract is hereby amended to reflect that <br />Buyer has selected Dean, Mean, Minton & Moore to be the title agent and closing agent under <br />the contract ("Title Agent"). Title Agent shall obtain and deliver to Buyer (at Buyer's sole cost <br />and expense) a title commitment within fifteen (15) days of the Effective Date. The second and <br />third sentences of Section 6(a) of the Contract are hereby deleted and replaced with the <br />following: "In the event Seller has an owner's policy issued in the ten (10) years prior to the <br />Effective Date, it shall deliver the same to Buyer and Title Agent within five (5) days from the <br />Effective Date." <br />C. Section 6(c) of the Contract is hereby amended such that Buyer <br />and Seller agree that the only due diligence items in Seller's possession to be provided to Buyer <br />under this section are the following: <br />(i) Survey dated February 4, 2025 prepared by Indian River <br />Survey, Inc.; <br />(ii) Tortoise Survey dated May 2, 2023 prepared by Florida <br />Environmental Consulting, Inc; and <br />(iii) EIR and Tortoise Report dated May 11, 2023 prepared by <br />Florida Environmental Consulting, Inc. <br />5925513.v2 <br />