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2008-076
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2008-076
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Last modified
3/24/2016 1:34:56 PM
Creation date
10/1/2015 12:00:59 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
03/04/2008
Control Number
2008-076
Agenda Item Number
9.A.1
Entity Name
Richard Jones and Mary Jones
Subject
Jones Pier site;County Environmental Lands Program
Area
Jones Pier
Supplemental fields
SmeadsoftID
6923
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forth herein . The parties acknowledge and agree that the Purchase Price is based on an <br /> estimated size of the Property of 16 .66 acres. <br /> 4 . A. ENVIRONMENTAL SITE ASSESSMENT. Purchaser shall , at its sole cost and <br /> expense , provide an environmental site assessment of the Property that is certified to <br /> Purchaser: meets the standard of practice of the American Society of Testing Materials <br /> ("ASTM") Practice E 1527 ; meets all and the current standards and requirements attached to <br /> this Agreement as Exhibit " E" ; bears a date that is not less than 35 days prior to the Option <br /> Expiration Date; and is performed by an environmental site assessment professional firm <br /> satisfactory to Purchaser (" Phase I ") . For purposes of this Agreement "Hazardous <br /> Materials" shall mean any hazardous or toxic substance , material or waste of any kind or any <br /> other substance which is regulated by any and all applicable federal , state or local laws , <br /> statutes , ordinances , rules, regulations or other governmental restrictions regulating , relating <br /> to, or imposing liability or standards of conduct concerning Hazardous Materials (herein <br /> " Environmental Law" . <br /> 4 . B . HAZARDOUS MATERIALS . In the event that the Phase I confirms the presence (or <br /> significant risk of the presence , as determined in Purchaser's sole discretion) of Hazardous <br /> Materials on the Property, Purchaser, at its sole option , may elect to terminate this <br /> Agreement and neither party shall have any further obligations under this Agreement. <br /> Should Purchaser elect not to terminate this Agreement, Seller shall , at his sole cost and <br /> expense and prior to the exercise of the option and closing , promptly commence and <br /> diligently pursue any assessment, clean up and monitoring of the Property necessary to <br /> bring the Property into full compliance with any and all Environmental Law. However, should <br /> the estimated cost of clean up of Hazardous Materials exceed a sum which is equal to 5% of <br /> the Purchase Price, Seller may elect to terminate this Agreement and no party shall have <br /> any further obligations under this Agreement. In the event that Hazardous Materials placed <br /> on the Property prior to closing are discovered after closing , Seller shall remain obligated <br /> hereunder, with such obligation to survive the closing , delivery, and recording of the deed <br /> hereunder, diligently to pursue and accomplish the clean up of Hazardous Materials in a <br /> manner consistent with all applicable Environmental Laws and at Seller's sole cost and <br /> expense . <br /> 5 . SURVEY. Purchaser shall , at Purchaser's sole cost and expense obtain a current <br /> boundary survey of the Property prepared by a professional land surveyor licensed by the <br /> State of Florida , satisfactory to Purchaser, that meets both the minimum technical <br /> requirements and standards promulgated by the Florida Board of Professional Land <br /> Surveyors and the survey procedures attached to this Agreement as Exhibit "F" ("Survey") . <br /> The Survey shall be certified to Purchaser, title insurer, and the closing agent, and the date <br /> of certification shall be within 90 days before the date of closing , unless this 90 day time <br /> period is waived by Purchaser and by the title insurer for purposes of deleting the standard <br /> exceptions for survey matters and easements or claims of easements not shown by the <br /> public records from the owner's title policy. If the Survey shows any defect, or any <br /> encroachment on the Property, or that improvements intended to be located on the Property <br /> encroach on the land of others , the same shall be treated as a "title defect" under this <br /> Agreement. <br /> 3 <br />
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