2006-244 - Laserfiche WebLink

Home Browse Search

H . On September 7 , 2006 , the Court entered a "Stipulated Judgment Quieting Title" in Case No . 2005-0809-CA- 13 that forever quiets title to : (a) an undivided seven-ninths of the "Williams tract" in Judah ; and ( b ) an undivided two-ninths of the 'Williams tract" in Upton ( " Stipulated Judgment" ) . The Stipulated Judgment is recorded in the public records of Indian River County in O . R. Book 2081 , Page 26 I . The Option Agreement contemplated that all of the title to the "Williams tract" would be quieted in Judah and allocated all of the proceeds of the sale of the 'Williams tract" to Judah . J . The parties have agreed that it is in everyone's respective best interest to amend the Option Agreement to reflect the Settlement Agreement and Stipulated Judgment, and the parties acknowledge that the Court must approve the Option Agreement and this First Amendment. NOW THEREFORE , for good and valuable consideration , the receipt and sufficiency of which is hereby acknowledged , the parties hereto , intending to be legally bound , agree to amend the Option Agreement as follows : 1 . All references to any representation , covenant, warranty, undertaking , or otherwise, of or from Seller in the Option Agreement shall , solely with respect to the 'Williams tract" , be deemed to mean and include Guardian for all purposes under the Option Agreement. 2 . From and after the effective date of this First Amendment, Paragraph 31 of the Option Agreement is amended by adding a new paragraph (d ) to read as follows : (d ) Notwithstanding anything to the contrary contained in paragraph 31 (b ) of this Option Agreement, and pursuant to that certain Settlement Agreement, Judah and Guardian agree that Judah has title to seven-ninths of the "Williams tract" and Upton has title to the remaining two-ninths of the "Williams tract"; 3 . From and after the effective date of this First Amendment, Paragraph 32 of the Option Agreement is amended by amending the last sentence of paragraph 32 in its entirety to read as follows : In addition , it is agreed at the closing of the 'Williams tract" in accordance with paragraph 31 , the Purchaser shall present payment (c/o the closing agent and subject to closing costs ) for the total price of $450 ,000 , to be allocated in the amount of $350 , 000 to Viola S . Judah , and $ 100 , 000 to Guardian on behalf of Upton . The payment of closing costs for the 'Williams tract" shall be as set forth in the Settlement Agreement. 4 . All terms and provisions of the Option Agreement not amended by this First Amendment shall be and remain in full force and effect. All defined terms not otherwise defined herein shall have the same meaning as set forth in the Option Agreement. 2