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2008-297
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2008-297
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Last modified
4/11/2016 1:38:03 PM
Creation date
10/1/2015 12:37:26 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/16/2008
Control Number
2008-297
Agenda Item Number
13.A.
Entity Name
Del Lago Inc.
Subject
Developer's Agreement Race Trac Right of Way
Area
CR 512 between 108th Avenue and 107th Ct.
Supplemental fields
SmeadsoftID
7580
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damages , or otherwise against the County; or (ii) waive the County's default and proceed to <br /> Closing . If County defaults in its post-closing obligations under this Agreement, Developer may <br /> pursue the exclusive remedy of specific performance as to any such default. <br /> 8 . 2 In the event the Developer shall fail to perform any of its obligations hereunder, the <br /> county shall , at its sole option , be entitled to terminate this Agreement by written notice <br /> delivered to the Developer at or prior to the Closing Date and thereupon neither the county nor <br /> any other person or party shall have any claim for specific performance, damages or otherwise <br /> against the Developer. <br /> 9 , Closing . <br /> 9 . 1 The closing of the transaction contemplated herein ("Closing " and "Closing Date") shall <br /> take place as follows : <br /> (a) The Developer shall execute and deliver to the County Attorney, in Escrow, a special <br /> warranty deed conveying marketable title to the ROW Property, free and clear of all liens and <br /> encumbrances and in the condition required by paragraph 6 , the condition of the Escrow being <br /> that the Warranty Deed and all other closing documents shall not be released from Escrow until <br /> the Application for Abandonment has been granted , the time for appeal has expired without an <br /> appeal being filed , and Developer shall have closed on the purchase of the R-O-W Property. <br /> (b) The Developer shall deliver possession of the ROW Property to County vacant and free <br /> of Developer's equipment and personal property. <br /> (c) If Developer is a non-resident alien or foreign entity, Developer shall deliver to the <br /> County an affidavit, in a form acceptable to the County, certifying that the Developer and any <br /> interest holders are not subject to tax under the Foreign Investment and Real Property Tax Act <br /> of 1980 . <br /> (d) The Developer and the County shall each deliver to the other such other documents or <br /> instruments as may reasonably be required to Close this transaction . <br /> 10 . 2 Prorations . All taxes and special assessments which are a lien upon the ROW Property <br /> on or prior to the Closing Date (except current taxes which are not yet due and payable) shall <br /> be paid by the Developer. If the Closing Date occurs during Othe time interval commencing on <br /> November 2 and ending on December 31 , Developer shall pay all current real estate taxes and <br /> special assessments levied against the ROW Property, prorated based on the "due date" of <br /> such taxes established by the taxing authority having jurisdiction over the ROW Property. If the <br /> Closing Date occurs between January 1 and November 1 , the Developer shall , in accordance <br /> with Florida Statutes Section 196 . 295 , pay an amount equal to the current real estate taxes and <br /> assessments , prorated to the closing Date . <br /> 11 . Closing Costs : Expenses . County shall be responsible for preparation of all Closing <br /> documents, which shall be acceptable to Developer. <br /> 11 . 1 County shall pay the following expenses at Closing : <br /> 11 . 1 . 1 The cost of recording the warranty deed and any release or satisfaction <br /> obtained by Developer pursuant to this Agreement. <br /> 3 <br />
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