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Home My WebLink About2017-037 RO S SWAY SWAN ROSSWAY SWAN TIERNEY BARRY LACEY & OLIVER, P.L. a,s WWW.ROSSWAYSWAN.COM Kevin M.Barry Brooke M. Benzio Rebecca F. Emmons Stephen J. Lacey 1,3,9 Aaron D.Lyons 1,1 March 7,2017 Justin W. McConnell Chelsea A.Miller J.Cole Oliver VIA EMAIL TO: ibrownna imov.com Tiffany S.Padgett Patricia L. Reid Jason E.Brown Bradley W.Rossway County Administrator Gregory J.SchwendemanIndian River County Helen E.Scott 1801 27th Street Jason D.Slater 2 Vero Beach,FL 32960 R. Blake Smith John M.Stewart RE. Jimmy Graves Foundation, Inc. ("Buyer") proposed purchase from Michael J.Swan Indian River County(".Seller")of"174 Street Bal fields" Thomas W.Tierney 2 Timothy M.Williams Dear Mr.Brown: Clifton A.McClelland,Jr. Of Counsel This firm has the pleasure of representing the Jimmy Graves Foundation, Inc. in William J.Stewart connection with the above-captioned matter. This letter represents a formal declaration of Of Counsel the Foundation's intent to purchase the property general identified as the "l Th Street Ballfields" which consist of approximately 11.76 acres on the north side of 16t' Street Edward P.Swan between IV' and 20 Avenue in the City of Vero Beach, Florida on the following terms (1927-2012) and conditions: 1 LLM-Taxation Property: FROM SW COR OF SETA RUN N 80 FT TO N R/W OF 16TH s Also admitted in CA p �� 3 Also admitted in GA ST&POB,TH E 943.19 FT TO W R/W OF 17TH AVE,TH N 463.5 FT,RUN W 250 FT,RUN N 245 FT,RUN W 233.74 FT, sAlso admitted in MA RUN S 108.5 FT,RUN W 447 FT,TH S 600 FT TO POB LESS Also admitted in NY 5 Also admitted in OH W 8 0 FT(RILEY FIELD BASE BALL DIAMONDS) 'Also admitted in PA s Also admitted in TN Price: $250,000.00(Two Hundred Fifty Thousand Dollars).Purchase 'Also admitted in VA price is based, in part,upon existence of restrictive easements on the property and Purchaser's anticipated expenses associated LOCATIONS with property improvement and need to change the future land VERO BEACH use of the property to construct such improvements. The Modern One Building 2101 Indian River Blvd. Purchaser: Jimmy Graves Foundation,Inc. a Florida not for profit Suite 200 corporation(or its to be formed tax exempt whole owned LLC) Vero Beach,FL 32960 772.231.4440 MELBOURNE Earnest Money: $10,000.00 to be deposited into an escrow account held by One Harbor Place Rossway Swan Tierney Barry Lacey&Oliver,P.L.within five 1901 S.Harbor City Blvd. (5)days of the effective date of a formal Purchase and Sale Suite 500 Agreement(the"Effective Date"). Deposit to be fully Melbourne, 32901 321.984.2700 refundable at any time during the Due Diligence period,upon CORAL GABLES* notice. Gables International Plaza 2655 LeJeune Rd. Penthouse 1-C Coral Gables,FL 33134 305.443.5020 TyAppointment "t Due Diligence: Purchaser shall have a 10 business days due diligence period from the Effective Date and receipt of all relevant documents and records from County. Contract: Purchaser shall provide a draft purchase and sale agreement to seller within 5 business days of the execution of this letter. Closing Expenses: Each party shall be responsible for their own closing expenses traditionally paid for on transactions of this nature in Indian River County,Florida. Closing Date: Within 30 calendar days after the expiration of the Due Diligence Period. Contingency: Due diligence acceptable to Purchaser in its sole and absolute discretion,which includes without limitation: appraisal, environmental matters,physical inspection,title,zoning and financing. This letter of intent is not intended to create a binding agreement on the Seller to sell or the Purchaser to buy. The purpose of this letter is to set forth the primary terms and conditions upon which to execute a formal Purchase and Sale Agreement. All other terms and conditions shall be negotiated in the formal Purchase and Sale Agreement. This letter of intent is open for acceptance through March 21,2017. Sincerely, Reb c F.Emmons,Esq. for the Foundation Agreed and accepted: BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COTY, FLORID \� By: Date: March 14 2017 oc J sep E. Flescher _hairrnan ATTEST: Jeffr R. Smith, rk of Court and Comptroller BY: APPROVED AS TO FORM An ', 'a' I ZN BY WIL!1.ok" * .,t'r cAAL DEPUTY C. 11t-J1'y ATTORNEY