3/7/2016 1:06:13 PM
10/1/2015 3:33:08 AM
Official Document Type
Agenda Item Number
Stephen Bailey Irrevocable Trust
Purchase Agreement easement
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�5- /aim <br /> N AL <br /> AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made <br /> and entered into as of the 12th day of May , 2009 by and between Indian River <br /> County, a political subdivision of the State of Florida ("County") , and Stephen M . Bailey, <br /> Irrevocable Trust (" Seller") , who agrees as follows : <br /> 1 . Agreement to Purchase and Sell and Grant . The Seller hereby agrees to sell to the County, and <br /> the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this <br /> Agreement, that certain parcel of real property located at 26th Street, Vero Beach, FL 32967 county <br /> of Indian River, State of Florida and more specifically described in Exhibit "A," containing <br /> approximately 79 ,461 . 1 square feet or 1 . 82 acres , and all improvements thereon, together with all <br /> easements , rights and uses now or hereafter belonging thereto . <br /> 2 . Purchase Price , Effective Date . The purchase price (the "Purchase Price") for the Property shall <br /> be One -Hundred-Twelve-Thousand - Eight-Hundred-FortyTwo and 00/ 100 Dollars ($ 112 , 842) . The <br /> Purchase Price shall be paid on the Closing Date . Additional consideration is being granted in that ; <br /> Indian River County agrees to relocate the existing fence and swale next to the new right-of-way line <br /> at the expense of the Indian River County and pay legal expenses of $ 3 , 500 to Charles Sullivan Sr. <br /> Esq . ( 3 . 22 %) . The Effective Date of this Agreement shall be the date upon which the County shall <br /> have approved the execution of this Agreement, either by approval by the Indian River County Board <br /> of County Commissioners at a formal meeting of such Board or by the County Administrator <br /> pursuant to his delegated authority . <br /> 3 . Title . Seller shall convey marketable title to the Property by warranty deed free of claims, <br /> liens, easements and encumbrances of record or known to Seller; but subject to property taxes for the <br /> year of Closing and covenants, restrictions and public utility easements of record provided (a) there <br /> exists at Closing no violation of any of the foregoing ; and (b) none of the foregoing prevents <br /> County' s intended use and development of the Property . <br /> 3 . 2 County may order an Ownership and Encumbrance Report with respect to the Property . <br /> County shall , within thirty ( 30) days from receipt of the Ownership and Encumbrance Report, deliver <br /> written notice to Seller of title defects . Title shall be deemed acceptable to County if (a) County fails <br /> to deliver notice of defects within the time specified, or (b) County delivers notice and Seller cures <br /> the defects within thirty (30) days from receipt of notice from County of title defects ("Curative <br /> Period") . Seller shall use best efforts to cure the defects within the Curative Period and if the title <br /> defects are not cured within the Curative Period, County shall have thirty ( 30) days from the end of <br /> the Curative Period to elect, by written notice to Seller, to : (i) to terminate this <br />Agreement, <br /> whereupon shall be of no further force and effect. <br /> 4 . Representations of the Seller. <br /> 4 . 1 Seller is indefeasibly seized of marketable , fee simple title to the Property, and is the sole <br /> owner of and has good right, title and authority to convey and transfer the Property , which is the <br /> subject matter of this Agreement, free and clear of all liens and encumbrances . <br /> 4 . 2 From and after the Effective Date of this Agreement, Seller shall take no action which would <br /> impair or otherwise affect title to any portion of the Property, and shall record no documents <br /> in the Public Records which would affect title to the Property, without the prior written <br /> consent of the County. <br /> 1 <br /> BEngineering\Robert Webb\26thst\baileypuragree#203232009 . doc <br />
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