2008-008 - Laserfiche WebLink

Home Browse Search

/d �J [7 � � ORIGINAL AGREEMENT TO PURCHASE AND SELL REAL ESTATE THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 1144-- day of December, 2007 by and between Sarah E. Fender, ("Seller") and Indian River County, a political subdivision of the State of Florida ("County"), who agree as follows : 1 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County, and the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement, that certain parcel of real property located at 8525 US Highway 1 , Sebastian, County of Indian River, State of Florida and more specifically described in Exhibit "A" containing approximately .28 acres, more or less and all other improvements thereon, together with all easements, rights and uses now or hereafter belonging thereto (collectively, the "Property"). 2 . Purchase Price, Effective Date . The purchase price (the "Purchase Price") for the Property shall be Five Hundred Thousand Dollars & 00/ 100 ($500,000.00). The Purchase Price shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement, either by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his delegated authority. The county shall pay a binder deposit or $5 , 000 . 00 to the Trank H. Fee , III , Esq . Trust Account upon acceptance. 3 . Title . Seller shall convey marketable title to the Property by warranty deed free of claims, liens, easements and encumbrances of record or known to Seller; but subject to property taxes for the year of Closing and covenants, restrictions and public utility easements of record provided (a) there exists at Closing no violation of any of the foregoing ; and (b) none of the foregoing prevents County's intended use and development of the Property. 3 .2 Seller' s attorney, Frank H. Fee, III, shall provide a title insurance commitment to County within 10 days of the effective date of the agreement and an Owner' s Title Policy within 30 days of closing. The cost shall be borne by County. County shall, within thirty (30) days from receipt of the Title Insurance Commitment, deliver written notice to Seller of title defects . Title shall be deemed acceptable to County if (a) County fails to deliver notice of defects within the time specified, or (b) County delivers notice and Seller cures the defects within thirty (30) days from receipt of notice from County of title defects ("Curative Period"). Seller shall use best efforts to cure the defects within the Curative Period and if the title defects are not cured within the Curative Period, County shall have thirty (30) days from the end of the Curative Period to elect, by written notice to Seller, to : (i) to terminate this Agreement, whereupon shall be of no further force and effect, or (ii) extend the Curative Period for up to an additional 90 days; or (iii) accept title subject to existing defects and proceed to closing. 3 . 3 A boundary survey will be required to be prepared by Indian River County before closing. 4. Representations of the Seller. 4. 1 Seller is indefeasibly seized of marketable, fee simple title to the Property, and is the sole owner of and has good right, title and authority to convey and transfer the Property which is the subject matter of this Agreement, free and clear of all liens and encumbrances. 4.2 From and after the Effective Date of this Agreement, Seller shall take no action which would impair or otherwise affect title to any portion of the Property, and shall record no documents in the 1