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2003-233
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2003-233
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Last modified
11/21/2016 10:32:41 AM
Creation date
9/30/2015 6:46:02 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/09/2003
Control Number
2003-233
Agenda Item Number
11.I.1
Entity Name
Landco V Inc.
Subject
Right of Way Acquisition 53rd St. Railroad Crossing
Area
71st. St. and 69th St.
Archived Roll/Disk#
3162
Supplemental fields
SmeadsoftID
3387
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3 <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 $ day of (0c; Tog5w , , 2003 , by and between Indian River <br /> County, a political subdivision of the State of Florida (" County") , and Landco V, Inc., <br /> ("Seller"), who agree as follows : <br /> 1 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County, and the <br /> 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 69th Street, County of Indian River, State of Al <br /> Florida and more specifically described on Exhibit "A," containing approximately 62, 766 . 7 square ' <br /> feet, or 1 .44 acre, and all improvements thereon, together with all easements , rights and uses now or o - <br /> hereafter belonging thereto (collectively, the "PV 0.41 op200J cc <br /> rty") . <br /> 2 . Purchase Price, Effective Date . The purchase price (the "Purchase Price") for the Property <br /> shall be Dollars ($z'��). <br /> The Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement shall be <br /> the date upon which the County shall have approved the execution of this Agreement, either by <br /> approval by the Indian River County Board of County Commissioners at a formal meetin u <br /> Board or by the County Administrator pursuant to his delegated authority. <br /> 3 . Title . Seller shall convey marketable title to the Property bVvarranty deed fre aims, <br /> liens, easements and encumbrances of record or known to Seller; but subj ect 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 either, receipt of the Ownership and Encumbrance Report, <br /> or execution of this contract by all parties (whichever occurs last) deliver written notice to Seller of <br /> title defects . Title shall be deemed acceptable to County if (a) County fails to deliver notice of <br /> defects within the time specified, or (b) County delivers notice and Seller cures the defects within <br /> thirty (30) days from receipt of notice from County of title defects ("Curative Period") . Seller shall <br /> use best efforts to cure the defects within the Curative Period and if the title defects are not cured <br /> within the Curative Period, County shall have thirty (30) days from the end of the Curative Period to <br /> elect, by written notice to Seller, to : (i) to terminate this Agreement, whereupon shall be ofno further <br /> force and effect, or (ii) extend the Curative Period for up to an additional 90 days ; or (iii) accept title <br /> subject to existing defects and proceed to closing . <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 /> Standard Agreement — Indian River County and Landco V, Inc . I <br /> RETURN -To r. R. COUNTY <br />
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