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LU V
ASSIGNMENT AND AMENDMENT OF OPTION
This ASSIGNMENT AND AMENDMENT OF OPTION (the "Assignment") is ma ie this
day of " , , 2005 , (the "effective date") by and between INDIAN RIVER
COUNTY, FLORIDA, a political subdivision of the State of Florida, whose address is c/o
Department of Community Development, 1840 25 `" Street, Vero Beach, Florida, 3260
(hereinafter referred to as "Assignee" or the "County") , JCL Investment Group, Inc . a Florida
corporation, whose address is 6649 Forest Hill Blvd . , West Palm Beach, FL 33413 (hereinafter referred
to as "Assignor" or "JCL"), and the Leona Diamond Trust, and Leona Diamond, individually,
whose address is 4301 N . Ocean Blvd. # 1001A, Boca Raton, Florida, 33431 (hereinafter
collectively referred to as "Seller" or "Diamond") .
WITNESSETH :
WHEREAS , real property owned by Diamond (the "Property") and located in Indian River
County, Florida, is currently under option for sale and purchase, between Diamond as seller),
and JCL (as buyer) pursuant to that certain agreement showing a date of signature b Seller of
May 6 , 2005 , a copy of which agreement is attached and made a part of this Assi ent, and is
referred to herein as the Option Agreement. The Property is also described as Indian River
County tax parcel numbers :
29-33 -40-00000-0010-00001 ,2
29-33 -40-00000-0010-0000160
30-3340-00000- 1000-00001 . 0, and
30-3340-000004000-00004 . 0 ; and,
WHEREAS, JCL and the County have agreed on a sale and purchase of the propert to the
County, through an assignment of the option agreement, and subsequent closing; an ,
WHEREAS, in order to effectuate the purchase and sale between JCL and the County it is
necessary to amend the Option Agreement, as assigned, to provide for closing prior to the time
set forth in the Option Agreement, and to provide for certain requirements needed by the County
to close under state law and County procedures ; and,
WHEREAS, JCL, the County and Diamond have agreed to the purchase and sale of the Property
to the County, assignment of the Option Agreement, and amendment of the Option Agreement,
all in accordance with this Assignment;
NOW, THEREFORE , in consideration of the sum of Ten Dollars ($ 10 . 00) and other, good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged" JCL, the
County and Diamond hereby agree as follows :
1 . Assignment and Amendment of Option Agreement. JCL does hereby grant, nargain, sell,
assign, transfer and set over unto the County, JCL ' s rights, title and interest in and to the Option
Agreement, and the Property, subject to the provisions of this Assignment; and agrees to the
amendment of the Option Agreement as set forth in this Assignment. Diamond hereby agrees
and consents to this the assignment, and to the amendment of the Option Agreement, subject to
the provisions of this Assignment. The County assumes only such obligations contained in the
Option Agreement as are necessary to effectuate the purchase and sale of the Property in
accordance with this Assignment. The assignment is conditioned, and the Option Agreement is
hereby amended as follows :
The County shall determine through the exercise of due diligence (environment site assessment,
survey, title and property inspection in accordance with the Addendum to this Assignment)
whether is wishes to close on the Property. If it decides to proceed to closing, the County shall
so notify JCL (with a copy to Diamond) in writing on or before November 4 , 2005 . If the
County so notifies JCL, JCL and Diamond will proceed to closing in accordance with this
Assignment. If the County fails to so notify JCL, this Assignment, and the County ' s rights there
under, shall terminate as of that date. In the event of such termination, the Option Agreement
shall remain in effect in accordance with its terms as between JCL and Diamond; and the County
is hereby released from any further obligation in regard to the Property, the Option Agreement or
this Assignment.
2 . Closing. If the County notifies JCL of its decision to proceed to closing in accordance
with paragraph 1 , above, JCL, Diamond and the County shall close on the conveyance of the
Property to the County on or before November 11 , 2005 . The closing shall be held at a time and
location in Vero Beach, Florida, designated by the County. The closing shall be handled by the
County ' s closing agent, who shall release the proceeds to JCL and Diamond upon title check
down and recording. Conveyance of the Property in fee simple from Diamond to the County
will take place at the closing.
3 . Price, deposit. The total purchase price to be paid by the County for the Property is
TWO MILLION SEVEN HUNDRED FIFTY THOUSAND and no/ 100 Dollars ($2 , 750, 000)
which, after reduction by the amount of the deposit, will be paid by the County at closing to JCL,
and to Diamond, or to the designated agent of either who meets the requirements of Section
253 .025 , Florida Statutes . The County hereby pays to JCL with this Assignment one hundred
dollars ($ 100 . 00) as a deposit. Payment to Diamond at closing will $2 , 500,000, asset forth in
the Option Agreement, with credit to JCL for payments previously made under the Option
Agreement, minus costs as set forth in this Assignment. Payment to JCL at closing will be
$250 ,000, plus credit for payments previously made to Diamond, minus costs set forth in this
Agreement and the deposit paid by the County.
4, Costs . The County shall pay the costs of survey, title insurance, and environmental
assessment as set forth in the Addendum. Diamond shall pay documentary stamps taxes on the
deed, recording fees for all documents, ad valorem taxes and any special assessments, and shall
make the tax deposit required in the Addendum. Diamond shall pay the costs associated with
preparation of the Easement for access as described in paragraph 11 of the Addendum, including
any costs associated with survey or legal description. JCL and Diamond shall pay any other
costs not covered in this paragraph, as those costs are assessed in accordance with the Option
Agreement. Each party shall pay its own attorney' s fees, if any.
5 . Addendum. The parties agree to the Addendum, which is attached to and made a part of
this Assignment. The Option Agreement is hereby amended by this Assignment and the
Addendum. In the event of any inconsistency between the provisions of this Assignment and
Addendum (without the Option Agreement), and the Option Agreement, the provisions of this
Assignment and Addendum shall control.
6. BCC Approval. This Assignment is conditioned upon the approval of the Indian River
County Board of County Commissioners .
IN WITNESS WHEREOF, the parties have caused this Assignment and Assumption of
Easement to be executed by their undersigned duly authorized representatives .
Assignor/JCL
JCL INVESTMENT GROUP INC .
ail By: -
wit ess as t JCL N Je ee, President
Witness as to JCL Date signed by Seller
Assignee/ County
130AIE!I> OF CD04TY COMM 1 .5 !> ) oN�s
IN N RIVER COUNTY
By: � .
Witness as to County Name : japMAS S . w)
Its : s} ) P.M. A 11
Witness to County Date signed by County :
Attest: C
(Clerk or Deputy RClerk of'COWt
(OFFICIAL $Mkt,)
Approved as �tol# Q L a it %
•°
Y:
County Attorn y
Seller/Diamond
LEONA DIAMOND TRUST
eona Diamond, Sole Trustee
x0e
LEQPWDIAMO , individually
i ss as to 1,660 Diamond
Date signed by Diamond : O S
Witness as to iamond
STATE OF \
COUNTY OF A �1 A3
IThe for mg mstrume was acknowledged before me this (a day of
2005 , by , who is personally known to me or
w o has produced a driver's license issu wi in the ve ye as identification.
(NOTARY PUBLIC)
SEAL Notary Public
(Printed, Typed or Stamped Name of
Notary Public) %S40wsly• s 4; ANDREW K. FEIN
MY COMMISSION # DD 304767
Commission No . : .• EXPIRES: July 29, 2008
My Commission Expires :
Bonded Thru Notary Public UrWenvriters
STATE OF ILO ib A )
COUNTY OF Z I> Ve
The foregoing instrument was acknowledged before me this Z 7 Y4` day of
¢ , 2005 , by I N,-n > �� ocL4Vk�. as Chairman of the Board of
Commissioners of Indian River County, and attested by .l, tEu All )��p-� e� , on behalf of
Jeffrey Barton, Clerk of the Board of Commissioners of Indian River County, Florida, on behalf
of the County, both of whom are personally known to me.
(NOTARY PUBLIC)
SEAL eA,
Notary Public
•41.PV
-4,%
Kimberly E. Massung
MY COMMISSION A UD216503 EXPIRES
July 15, 2007
BONDED THRU TROY FAIN INSURANCE, INC.
(Printed, Typed or Stamped Name of
Notary Public)
Commission No . :
My Commission Expires :
STATE OF ElD r I & )
COUNTY OF
�. :rAftr6ons ( enc • as A5519nor
The foregoing instrument as acknowledged before me this ) 11 A_ day of
OU 2005 by T"ono Ttii
ADDENDUM
1 , ENVIRONMENTAL SITE ASSESSMENT. The County may, at its expense and prior to the
November 4, 2005 , conduct an environmental site assessment of the Property which meets the standard of
practice of the American Society of Testing Materials ("ASTM " ) . The examination of hazardous
materials contamination shall be performed to the standard of practice of the ASTM, Practice E 1527 . For
purposes of this Addendum "Hazardous Materials " shall mean any hazardous or toxic substance, material
or waste of any kind or any other substance which is regulated by any Environmental Law (as hereinafter
defined in paragraph 4 .13 . ) . Diamond shall execute and deliver the Environmental Affidavit, in the form
attached, at closing.
2 . SURVEY. The County may, at its cost, obtain a current boundary survey of the Property
prepared by a professional land surveyor licensed by the State of Florida which meets the standards and
requirements of the County, and the County ' s anticipated funding partner, the Florida Communities Trust
(FCT). The date of certification of the survey shall be within 90 days before the date of closing for
purposes of deleting the standard exceptions for survey matters and easements or claims of easements not
shown by the public records from the owner's title policy. If the Survey shows any encroachment on the
Property, or that improvements located on the Property encroach on the land of others, the same shall be
treated as a title defect.
3 . TITLE INSURANCE. The County, at its sole cost, and no later than November 4, 2005 , obtain a
marketable title insurance commitment, to be followed by an owner's marketable title insurance policy
(ALTA Form "B ") from a title insurance company, approved by the County, insuring marketable title of
the County in and to the Property in the amount of the total purchase price . Diamond shall provide
affidavits, and corrective documents (in any), reasonably requested by the title insurer to delete the
standard exceptions of such policy referring to : (a) all taxes, (b) unrecorded rights or claims of parties in
possession, (c) survey matters, provided County obtains survey, (d) unrecorded easements or claims of
easements, provided County obtains survey, and (e) unrecorded mechanics' liens . Upon notice by the
County Diamond shall take reasonable steps prior to closing to remove defects to title disclosed by the
title commitment, but shall not be obligated to bring suit to cure such defects .
4 . INTEREST CONVEYED . At closing, Diamond shall execute and deliver to the County a
statutory warranty deed in accordance with Section 689. 02 , Florida Statutes, conveying marketable title to
the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies
and other encumbrances, except for those that are acceptable by the County. The grantee in the
Warranty Deed shall be Indian River County, a political subdivision of the State of Florida. Diamond
hereby represents and warrants to the County that the Property is owned in fee simple by the Leona
Diamond Trust.
5 , PREPARATION OF CLOSING DOCUMENTS . Upon execution of this Assignment, Diamond
shall submit to the County a properly completed and executed beneficial interest affidavit and disclosure
statement as required by Sections 286 .23 , and 380.08(2), Florida Statutes . The County or its
representative shall prepare the warranty deed; closing statements; the title, possession and lien affidavit
certified to the County and title insurer in accordance with Section 627 . 7842, Florida Statutes on forms
approved by the County; and, the environmental affidavit. Diamond shall provide reasonable evidence,
upon request of the County of the title insurer, of authority from the owner of the Property to the
individual executing all documents . JCL with Diamond' s approval shall prepare and submit to the County
for County review and approval the final proposed easement for access to the Diamond property
described in paragraph 11 of this Addendum . JCL with Diamond ' s approval shall submit such easement
to the County for review and approval on or before October 7 , 2005 ; any delay in submittal by Diamond
of the easement will automatically extend both the November 4, 2005 date for County notification of
closing, and the date for the additional deposit by JCL under the Option Agreement.
6 , TAXES AND ASSESSMENTS . All real estate taxes and assessments which are or which may
become a lien against the Property shall be satisfied of record by Diamond at closing. In the event the
County acquires fee title to the Property between January I and November 1 , Diamond shall , in
accordance with Section 196 .295 , Florida Statutes, place in escrow with the county tax collector an
amount equal to the current taxes prorated to the date of transfer, based upon the current assessment and
millage rates on the Property. In the event the Local Government acquires fee title to the Property on or
after November 1 , Diamond shall pay to the county tax collector an amount equal to the taxes that are
determined to be legally due and payable by the county tax collector.
7 . CLOSING DATE. The closing shall be on or before November 11 , 2005 , provided, however,
that the County may request an extension to the closing date to permit the clearing of title or other good
cause, which request shall not be unreasonably refused by Diamond and JCL . In the event County
requests an extension to the closing date, the Feasibility Study Period, as defined in the Option
Agreement, also referred to as the due diligence period, and the requirement to deposit the additional
deposit shall likewise be extended by the number of days the County requires to extend the closing date .
8 . RISK OF LOSS AND CONDITION OF REAL PROPERTY. Diamond assumes all risk of loss
or damage to the Property prior to the date of closing and warrants that the Property shall be transferred
and conveyed to the County in the same or essentially the same condition as of the date of Diamond ' s
execution of this Assignment, ordinary wear and tear excepted . However, in the event the condition of
the Property is altered by an act of God or other natural force beyond the control of Diamond, the County
may elect, at its sole option, to terminate this Assignment and neither party shall have any further
obligations under this Assignment. Diamond represents and warrants that there are no parties other than
Diamond in occupancy or possession of any part of the Property.
9 . RIGHT TO ENTER PROPERTY AND POSSESSION . Diamond agrees that from the date this
Assignment is executed by Diamond, the County and its agents, upon reasonable notice, shall have the
right to enter the Property for all lawful purposes in connection with the this Assignment. With regard to
any entry by the County upon the Property prior to closing, the County=s liability to Diamond or to any
third party shall be subject to the limitations and conditions specified in section 768 .28, Florida Statutes .
Diamond shall deliver possession of the Property to the County at closing.
10. ACCESS . Diamond warrants that there is legal ingress and egress for the Property over public
roads or valid, recorded easements that benefit the Property .
H . RETAINED DIAMOND PROPERTY . The real property described after the in the first "less
and except the following" on the first page Exhibit A of the Option Agreement is to be retained by the
Leona Diamond Trust (the "Diamond Retained Property"). The parties agree that the Leona Diamond
Trust will also retain that portion of the Property described in Exhibit A of the Option Agreement
generally described as a strip of land lying south of the Diamond Retained Property, east of the southerly
extension of the west line of the Diamond Retained Property, and west of Lot 15 , River Shores Estates,
Unit # 4 . This strip of additional land to be retained by Diamond is estimated to be approximately 10 feet
wide by approximately 150 feet long. Diamond will pay for a legal description prepared by a surveyor,
and a survey or drawing, of the legal description of the property to retained by Diamond . The legal
description and final form of the reservation must be approved by the County prior to November 1 , 2005 .
12 . DEFAULT. If either Diamond or JCL defaults under this Assignment, the County may waive the
default and proceed to closing, seek specific performance, or refuse to close and elect to receive the return
of any money paid, each without waiving any action for damages, or any other remedy permitted by law
or in equity resulting from such default. If the County defaults under this Assignment, Diamond or JCL
may seek any remedy permitted by law or in equity resulting from the County's default. In connection
with any dispute arising out of this Assignment, including without limitation litigation and appeals, each
party will be responsible for its own attorney's fees and costs .
13 . BROKERS . JCL and Diamond warrant that no persons, firms, corporations or other entities are
entitled to a real estate commission or other fees as a result of this Assignment or subsequent closing,
except as accurately disclosed on the Beneficial Interest Affidavit.
14 , RECORDING . This Assignment may not be recorded .
15 . ASSIGNMENT . This Assignment may not be assigned by any party without the prior written
consent of all parties, and any such assignment or attempted assignment shall be null and void .
16 . TIME. Time is of essence with regard to all dates or times set forth in this Assignment.
17 , SEVERABILITY . In the event any of the provisions of this Assignment are deemed to be
unenforceable, the enforceability of the remaining provisions of this Assignment shall not be affected .
18 . SUCCESSORS IN INTEREST. Upon the parties ' execution of this Assignment, the heirs, legal
representatives, successors and assigns of the parties will be bound by it. Whenever used, the singular
shall include the plural and one gender shall include all genders .
19 . ENTIRE AGREEMENT . This Assignment contains the entire agreement between the parties
pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements,
representations and understandings of the parties. No supplement, modification or amendment to this
Assignment shall be binding unless executed in writing by the parties.
20. WAIVER. Failure by any party to insist upon strict performance of any covenant or condition of
this Assignment, or to exercise any right herein contained, shall not be construed as a waiver or
relinquishment for the future of any such covenant, condition or right; but the same shall remain in full
force and effect.
21 . AMENDMENTS . No modification, amendment or alteration hereto, shall be effective or binding
upon the parties hereto until it has been executed by all of the parties hereto .
22 . NOTICE. Whenever either party desires or is required to give notice unto the other, it must be
given by written notice, and either delivered personally or mailed to the appropriate address indicated on
the first page of this Addendum, or such other address as is designated in writing by a party to this
Assignment. Notices shall be deemed made as of the earliest of. actual delivery, the next business day
after delivery to FedEx, UPS, DHL or similar overnight service, or 3 business days after mailing USPS .
23 . SURVIVAL . The covenants, warranties, representations, indemnities and undertakings of
Diamond set forth in this Assignment shall survive the closing, the delivery and recording of the deed .
BENEFICIAL INTEREST AND DISCLOSURE AFFIDAVIT
(OTHER)
STATE OF
COUNTY OF
Before me, the undersigned authority, personally appeared LEONA DIAMOND, this Ir� day of September, 2005 ,
who, first being duly sworn, deposes and says :
1 ) That the LEONA DIAMOND TRUST whose address is 4301 N . Ocean Blvd. # 1001A, Boca Raton, Florida,
33431 is the record owner of the Property . The following is a list of every "person " (as defined in Section
1 . 01 (3 ),
Florida Statutes) holding 5% or more of the beneficial interest in the Property :
( if more space is needed, attach separate sheet)
Name Address Interest
?01 A . oo>� �1y� � gp/e
: . i' ��l jam.; irk a � � ;� fl— 33 � 74o
S. -
2 ) That to the best of the affiant's knowledge, all persons who have a financial interest in this real estate transaction
or
who have received or will receive real estate commissions, attorney's or consultant's fees or any other fees or
other
benefits incident to the sale of the Property are :
Name Address Reason for Payment Amount
3 ) That, to the best of the affiant's knowledge, the following is a true history of all financial transactions ( including
any
existing option or purchase Addendum in favor of affiant) concerning the Property which have taken place or will take
place during the last five years prior to the conveyance of title to the LEONA DIAMOND TRUST :
Name and Address Type of Amount of
of Parties Involved Date Transaction Transaction
This affidavit is given in compliance with the provisions of Sections 286 . 23 and 380 . 08( 2 ), Florida Statutes .
AND FURTHER AFFIANT SAYETH NOT . AFFIANT
SWORN TO and sub cribed before me this day o J , 2005 , by
who is personally kn n to me or who has produced a
driver's license as identi kation and who did take n ath .
Notary xyr
lic
..�Y Mope,•t • ANDREW K. FEIN
zzy MY COMMISSION # DD 304767 (Printed, Typed or Stamped Nam of Notary)
P EXPIRES: July 29, 2(X18
% jF*wd BondedThruNotaryPubicUndernrters Commission
No . :
My Commission Expires :
APPROV D AS T F A LEGALITY
By :
County Attorney
Date : Z3
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disburse brokerage fees as Indicated below. This paragraph will not be used to modify any MLS or c. ,. . .r 04:6-
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05 / 09 / 2403 FAX . .. , , • - - - - - - - - - - - . - - - - - - - - - - - - - - , - - - - � ie
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4MIT 18 illt wo&wi to bd"e leg* bttldirlg wntat If not 0* undffstoodv tt10 xMoe of an ttl Waypngr tg t z
OFFER AND AC09PTANCB
Sat' (Chea* if apprt�da: 0 9UW roveivW a written real Property dieolosure statement from Seller before rnaidng tnls Offer.)
3az Buyer otters to purchase the property on the al one t6mv and Wndiggns. Unless this Contr�t le 9lgned by f�8iW and
a
3� copy delivered tot Buyer no tater than �;QQp a.rri. q p.rit. on Man 1- 200.5 this offer wld be
w revoked and Buyer's ctWposit m aided sul:4W t e of funds,
se Cate : _- Buyer �
Print nsrne: n t t3roup Inc. Jeff Lee Pres .
3E: • "ate: _ Buyer.
3W Phono : _ 561849733-4 Print name: JCL Investment Group Inc.
50849 7338 Addru; 6649 Forest HUI Blvd • West Palm Beaoh FI 33413
3nr E-mei;: _ . MnvogmntsSS�_.._. belismth.nst
3» 9 Date: IJ04V J492%�,..J Steller:
37r Print name: Mond, stal
� , ars- date: SeUer•
ata' Phone: Print narrAl
F=4 Address:
37W E-mai:
COUNTER o
37V ❑ Sailor cotantes s c;REAL R>:•JB'CTiof+1
' N the earner offer,, Buyer must siert or ►nide► the Counter offert�d end t1 a
sem'
COPY Oftt at ptprtr to Seder by 6:00 p. m . an , .... ��. 0 Seller rejects BuyW otisr.
300' D {The data an which _rota Int MW signed or lr►ftl W aoogp*V6 of ttte fwd atout)
and geledYAVA 1 ..j aclotowl dee welpt of a
Dopy of this pie, which i9 Page 7 of 7 Pages,
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ht tht lttsttrly estaastoet of the "rth um est' gold Cqt =tS. itile . 4
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AND FLTMER tR 5 AM -P=PT UM SU34RM LANDS LYING UMIATELY TO TEM�
FAST OF UE FM7= I cRjea) LESSff OUT PAP, w
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4 Obll r records at Risrer and M1 �•
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