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HomeMy WebLinkAbout2005-239s AGREEMENT TO PURCHASE AND SELL REAL ESTATE THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ( "Agreement " ) is made and entered into as of the 12thday of July , 20052 b and between INDIAN RIVER COUNTY , a political subdivision of the State of Florida , 1840 25 Street , Vero Beach , FL 32960 (" County" ) , and REGINALD WATKINS , Personal Representative for the Estates of EDDIE TAYLOR and MARY TAYLOR, his wife , deceased , 2621 45th Street , Vero Beach , FL 32967 ( "Seller" ) , 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 described as parts of Property Appraiser' s Tax # 32392200000100000011 . 0 located in Vero Beach , Indian River County , State of Florida , and more specifically legally described on Exhibit "A" attached hereto and incorporated by this reference containing approximately 1 . 01 Acres* , and any 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 $ 45 , 450 . 00 * . The Purchase Price shall be paid and title to the described property shall be conveyed on the Closing Date . The Effective Date of this Agreement shall be the date upon which the Indian River County Board of County Commissioners approved the execution of this Agreement at its formal meeting . *$45, 000 per acre will be paid based on the exact calculation of acreage for the parcel to be purchased as determined by a licensed surveyor. 3 . Title . Seller shall convey marketable title to the Property by warranty dee 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 ( " PermittedExceptions " ) . 3 . 1 County may order an Ownership and Encumbrance Report or litle Insurance Commitment with respect to the Property . County shall within fifteen ( 15 ) days following the Effective Date of this Agreement 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 c red within the Curative Period , County shall have thirty ( 30 ) days from the end of the Curative eriod 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 . 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 1 4 . 2 From and after the Effective Date of this Agreement , Seller shall take r o action which would impair or otherwise affect title to any portion of the Property , and shall record no documents in the Public Records which would affect title to the Property , without the prior written consent of the County . 4 . 3 There are no existing or pending special assessments affecting the Prope y, which are or may be assessed by any governmental authority , water or sewer authority , school district , drainage district or any other special taxing district . 5 . Contingency . The Seller acknowledges and agrees that this Agreement is expressly contingent upon the County obtaining an Agreement to Purchase and Sell Recal Estate for all other parcels shown on Exhibit " B " attached hereto and incorporated by reference herein . If the County fails to obtain an Agreement to Purchase and Sell Real Estate upon any of the required parcels shown on Exhibit " B " by December 31 , 2005 , then this Agreement shall become null and void and the County and the Seller shall be released from all obligations under this Agreement . 6 . Default, 6 . 1 In the event the County shall fail to perform any of its obligations hereunder, the Seller shall , at its sole option , be entitled to : ( i ) terminate this Agreement by written notice delivered to the County at or prior to the Closing Date and thereupon neither the Seller nor any other person or party shall have any claim for specific performance , damages , or otherwise against the County ; or ( ii ) waive the County' s default and proceed to Closing . 6 . 2 In the event the Seller shall fail to perform any of its obligations hereunder, the County shall , at its sole option , be entitled to : ( i ) terminate this Agreement by written notice delivered to the Seller at or prior to the Closing Date and thereupon neither the County nor arly other person or party shall have any claim for specific performance , damages or otherwise ag inst the Seller; or ( ii ) obtain specific performance of the terms and conditions hereof; or ( iii ) waive the Seller' s default and proceed to Closing : 7 . Closing . 7 . 1 The closing of the transaction contemplated herein ( " Closing " and " Closing Date" ) shall take place within 60 days following the Effective Date of this Agreement . The parties agree that the Closing shall be as follows : ( a ) The Seller shall execute and deliver to the County a warranty deed conve ing marketable title to the Property , free and clear of all liens and encumbrances and in the condition required by paragraph 3 . ( b ) The Seller shall have removed all of its personal property and equipment from the Property and Seller shall deliver possession of the Property to County vacant and in the same or better condition that existed at the Effective Date hereof. (c ) If Seller is obligated to discharge any encumbrances at or prior to Closing and fails to do so , County may use a portion of Purchase Price funds to satisfy the encumbrances . 2 (d ) If the Seller is a non - resident alien or foreign entity , Seller shall deliver tc the County an affidavit , in a form acceptable to the County , certifying that the Seller and any i qterest holders are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980 . (e ) The Seller and the County shall each deliver to the other such other documents or instruments as may reasonably be required to close this transaction . 7 . 2 Prorations . All taxes and special assessments which are a lien upon the property on or prior to the Closing Date (except current taxes which are not yet due and payabl ) shall be paid by the Seller. If the Closing Date occurs during the time interval commencing on November 2 and ending on December 31 , Seller shall pay all current real estate taxes and special assessments levied against the Property , prorated based on the "due date" of such taxes established by the taxing authority having jurisdiction over the Property . If think Closing Date occurs between January 1 and November 1 , the Seller shall , in accordance with Florida Statutes section 196 . 295 , pay an amount equal to the current real estate taxes and assessments , prorated to the Closing Date . 8 , Closing Costs ; Expenses . County shall be responsible for preparatior of all Closing documents . 8 . 1 County shall pay the following expenses at Closing : 8 . 1 . 1 The cost of recording the warranty deed and any release or satisfact on obtained by Seller pursuant to this Agreement . 8 . 1 . 2 Documentary Stamps required to be affixed to the warranty deed . 8 . 1 . 3 All costs and premiums forthe owner's marketability title insurance commitment and policy , if any . 8 . 2 Seller shall pay the following expenses at or prior to Closing : 8 . 2 . 1 All costs necessary to cure title defect(s ) or encumbrances , other than the Permitted Exceptions , and to satisfy or release of record all existing mortgages , liens or encumbrances upon the Property. 8 . 3 The Seller and County shall each pay their own attorneys ' fees . 9 . Miscellaneous . Seller has the option to utilize the provisions of Section 1031 of the IRS Code regarding tax free exchange , at no expense to the County . 9 . 1 Controlling Law . This Agreement shall be construed and enforced in acco dance with the laws of the State of Florida . Venue shall be in Indian River County for all state court matters , and in the Southern District of Florida for all federal court matters . 9 . 2 Condemnation . In the event that all or any part of the Property shall be acquired or condemned for any public or quasi - public use or purpose , or if any acquisition or condemnation 3 proceedings shall be threatened or begun prior to the Closing of this transaction , County shall have the option to either terminate this Agreement , and the obligations of all pailies hereunder shall cease , orto proceed , subject to all other terms , covenants , conditions , representations and warranties of this Agreement , to the Closing of the transaction contemplated her by and receive title to the Property ; receiving , however, any and all damages , awards or other compensation arising from or attributable to such acquisition or condemnation proceedings . County shall have the right to participate in any such proceedings . 9 . 3 Entire Agreement . This Agreement constitutes the entire agreement be een the parties with respect to this transaction and supersedes all prior agreements , written or oral , between the Seller and the County relating to the subject matter hereof. Any modification or amendment to this Agreement shall be effective only if in writing and executed by each of the parties , 9 . 4 Assignment and Binding Effect . Neither County nor Seller may assign its rights and obligations under this Agreement without the prior written consent of the other pcoirty . The terms hereof shall be binding upon and shall inure to the benefit of the parties hereto and their successors and assigns . 9 . 5 Notices . Any notice shall be deemed duly served if personally served or if mailed by certified mail , return receipt requested , or if sent via "overnight" courier servi a or facsimile transmission , as follows : If to Seller: Reginald Watkins , Personal Representative for Eddie and Mary Taylor (deceased ) Facsimile - C/O Sam Block , Esq . 231 -3923 If to County : Indian River County Attn : Steven Doyle , P . E . Assistant Utilities Director 1840 25th Street , Vero Beach , FL 32960 Facsimile # ( 772 ) 770- 5095 Either party may change the information above by giving written notice of such change as provided in this paragraph . 9 . 6 Survival and Benefit . Except as otherwise expressly provided herein , each agreement , representation or warranty made in this Agreement by or on behalf of either party , or in any instruments delivered pursuant hereto or in connection herewith , shall survive the Closing Date and the consummation of the transaction provided for herein . The covenants , agreements and undertakings of each of the parties hereto are made solely for the benefit of, and may be relied on only by the other party hereto , its successors and assigns , and are not madE for the benefit of, nor may they be relied upon , by any other person whatsoever. 9 . 7 Attorney' s Fees and Costs . In any claim or controversy arising out of or relating to this Agreement , each party shall bear its own attorney' s fees , costs , and expenses . 9 . 8 . Counterparts . This Agreement may be executed in two or more counterpaits , each one of which shall constitute an original . 4 9 . 9 . County Approval Required : This Agreement is subject to approval by Indian River County as set forth in paragraph 2 . Approval is to be sought at the earliest time possible not to exceed thirty (30 ) days from the date of Seller' s execution of this Agreement . If possible , Closing shall to take place within fifteen ( 15 ) days of the Effective Date of this Agreement , but Closing shall not later than sixty (60 ) days after the Effective Date , 9 . 10 Beneficial Interest Disclosure : In the event Seller is a partnership , limited partnership , corporation , trust , or any form of representative capacity whatsoever for others , Seller shall provide a fully completed , executed , and sworn beneficial interest disclosure Statement in the form attached to this Agreement as an exhibit that complies with all of the prov sions of Florida Statutes Section 286 . 23 prior to approval of this Agreement by the County . However, pursuant to Florida Statutes Section 286 . 23 ( 3 ) ( a ) , the beneficial interest in any entity registered with the Federal Securities and Exchange Commission , or registered pursuant to Chapter 517 , Florida Statutes , whose interest is for sale to the general public , is exempt from disclosure ; and where the Seller is a non - public entity , that Seller is not required to disclose persons or entities holding less than five ( 5 % ) percent of the beneficial interest in Seller. IN WITNESS WHEREOF , the undersigned have executed this Agreement as of the date first set forth above . Re ' nald Watkins , Personal L R : e e]2 . ve for INDIAN RIVER COUNTY , FLORIDA r By : Q\ S. Thomas S . Lowthe , Chairman BCC approv29 2005 Ma Taylor ` Attest : J . KOOarton , Clerk By • a . ° r� Date Signed 24 � � sr uty , § 40 OT � ' .Approved : B Co u ty Admi strator 4 App to fl and a of ci cy: By Co my o ey 5 INDIAN RIVER COUNTY PROPERTY APPRAISER 2/17/05 SUMMARY SCREEN - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -PARCEL ## 32392200000100000011 . 0 NAME TAYLOR , EDDIE 6 MARY LEGAL ADDR1 2621 45TH ST FROM SE COR OF SEI /4 OF NEI /4 RUN W ADDR2 987 . 45 FT; THENCE N 1060 FT TO A ADDR3 P . O . B . THENCE RUN N 265 FT MORE OR LESS CITY VERO BEACH ST . FL - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TAXES 115 * 10 115 . 10 TIC 7 DR IRF EXEM . ZIP 32967 - 1367 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SALES 1 = = =>1 = = => SALE CD 01 BOOK 00571 PAGE 01312 DATE 08 1978 PRICE 100 2 = = => SALE CD 01 BOOK 00732 PAGE 00976 DATE 04 1986 PRICE 1400 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - VALUES LAND LAND 4720 BLDG MISC JUST VALUE 4720 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LAND ACRES ACRES 1 . 01 FRNTAGE 000000 . 00 DEPTH 900 TYPE A - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - IMP PUSE PUSE 0000 STYLE BASE ADJ YRBLT - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - PHY ADDR 497H ST N t Action - - -> - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -= P= Prev Parc N=Next Parc E=Exit Yl`3a'J 9Yv"� .... • . _••••.•.K.Iru-4iiyj'in:AaLisi '�SFA!iFafi��id' ��3A�ilaw. .. . . _ 1 i 00000 , • . . . 0001021 • 3A4 AC 1 • • 1 • 1 • . • 0000 • . . . 00002.2 . . . 1 • 01 •LIN AC I : . • 1 . 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