HomeMy WebLinkAbout1997-273*73
CONTRACT FOR SALE AND PURCHASE
FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR
PARTIES: xnd3.an itiyax C,tt'L._ �►� 3.� t3a._xi,n►._ Q]i�tP�_ taiai ("Seller")
of 1849 2.5tah age :��_4�1aattt�h� _IQx.:�_. 3�_ (Phone)
and _ La ha _iO . 11.1 th�_t 1 5 �. Sr# � � �. � 9 x11,,(,"Buyer"),
of _s;ac� P,Y.s�.t�«_^.y'� �_._�i►�._.,�. Q (Phone) �tir.5g94...
hereby agreethat Seller shall sell and Buyer shall buy the following Real Propertyand Personal Property (coliedively"Property") upon the following terms and
conditions, which INCLUDE Standards for Real Estate Transactions ("Standard(s)") on the reverse side or attached hereto and riders and addenda to this
Contrad for Sale and Purchase ("Conti -ad").
L DESCRIPTION:
(a) Legal description of Real Property located in Z�.__I� r County, Florida:.
Age -legal deACE itDtLonLxhibA-t-�A11.. tadbed_h�►���_._��ci_.x>����
(b) Streit address, city, zip,ofthe Property is: 1itd_tram t
(c) Personal Property: no,, A-"ened Pat, . ,__ gnt _ g � „'i„ 9
across _,,.....�i. .. _....�ttLL +t�......�!�.9..>�._ • ?
• '1�__._._;K #11W2
'RA '_ 5 SIJ$+=CT1-M--1ND.TAH-AVZA C9UNTAC �'I TSL ,A, PItOVAL __��___
LL. PURCHASE PRICE...................................................................................................................................................... $ ExahanQ .. _
PAYMENT:
(a) Deposit held in escrow by in the amount of ........................ $
(b) Additional escrow deposit within days after Effective Date (as defined in Paragraph III) in the amount of .............. $ p
(o) Subjed to AND assumption of mortgage in good standingin favor of
_ having an approximatepresent principal balance of ....................... S p
(d) Purchase money mortgage and note (see addendum) in the amount of..............................................................................
(e) Other:
(f) Balance to dose byU.S. cash, LOCALLY DRAWN certified or emshier's diedc or third -party loan, subjedto adju%iment-s
andprorations..................................................................................................................................................................... $ Exchanm
ILL TIME FORACCEPTANCEOF OFFER; EFI47kTIVE DATir; FAC.SIMILE: If th is offer is not executed by and delivered to all parties OR FACT OF
EXECUTION conutnunicated in writing between the parties on or before _� Y_ _J,"Ay ,the deposits) will, at Buyer's option, be returned to Buy
-
g___
and this offer withdrawn. The date of Contrad (""Et'edive Date") will be the date when the last one ofthe Buyer and Seller has sigthed this offer. A facsimile
COPY ofthis Contrad and any silhatures hereon shalt be considered for all purposes as originals.
LV. FINANCING:
(a) Ifthepurchage price or anypattofit isto befinanced by a third -party loan, this Contradiseonditionedon Buyer obtain ingawritten eomnhitmentwithin
days after Effective Date: for (ClIECK ONLY ONE- ):E] a fixed; (D an adjustable; or R a fixed or adjustable rate loan for the principal
amount of$ , at an initial interest rate not to exceed %, discount and origination fees notto exceed
% of the principal amount, and a term of years. Buyer will make application within days after Effective Date and use
reasonable diligence to obtain the loan commitment and, thereafter, to satisfy the terms and conditions ofthe comm fitment and dose the loan. Buyer shall
pay all loan expenses. If Buyer faits to obtain the commitment or failsto waive Buyer's rights under this subparagraph within the time for obtainingthe
convnitment the terms and conditions ofthe commitment, then either party thereafter, by written notice to the other, mayeancel this Contrad and Buyer
shall be refhnded the deposit(s); or
(b) The existing mortgage described in Paragraph II(c) above has (CHECK ONLY ONE): (] a variable interest rate; or [] a fixed interest rate of
% per annum. Attime oftitletransfer some fixed interest rates are subjedto increase. If increased, the rate shall not exceed % per annum
Seller shall, within days after Effective Date, furnish a statement from each mortgagee stating principal balance, method ofpayment, interest rate
and status of mortgage, If Buyer has agreed to assume amortgagewhieh requires approval of Buyer by the mortgagee for assumption, then Buyer shall
promptlyobtain the necessary application and diligently complete and return itto the mortgagee.
Any mortgagee dharge(s) not to exceed $ _ shall be paid by Buyer. If'Buyer is not accepted by mortgagee or the requirements for
assumption are not in accordance with the terms ofthis Contract or mortgagee makes a dharge in excess ofthe stated amount, Seller or Buyer may rescind
this Contract bywritten notice to the other partyunless either elects to paythe increase in interest rate or excess mortgagee dharges.
V. TITLE EVIDENCE: At least — days before dosingdate, but no earlier than days after Seller receives written notification that Buyer
has obtained the loan commitment or been a proved forthe loan assumption asprovided in Paragraphs IV(a) and (b), above, or, if applicable, waived the finan-
cing requirements, (CHECK ONLY ONE): Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, or�+yeroeesnse4btain,
in n000rdanee with Standard A, abstract oftitle; or X title insurance commitment (with legible copies of instruments listed as
exceptions) and, after dosing, an owner spolicy oftitie insurance.
VL CLOSING DATE: Thistransadion shall be dosed and the deed and other dosingpapers delivered onunless modified
byotherprovisionsofthis Contract. fi�1 1 Pm"t-Fv II
VIL RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall taketitle subjedto: comprehensive land use plans, aoning, restriet.ions, prohibitions
and other requirements imposed by governmental authority, restrictions and matters appearing on the plat or otherwise common to the subdivision; public
utility easements of record (easements are to be located contiguousto Real Property lines and notmore than 10 feet in width as to the rear or front lines and
71/2 feet in width asto the side lines, unless otherwise stated hemin);taxes for year of dosing and subsequent years; assumed mortgages and purchase money
mortgages, if any, (if other matters, see Paragraph XV);provided, thatthere exists at dosingno violation of the foregoing and none of themprevents use ofthe
Property for _ — purpose(s).
VIM OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but, if Property is intended to be rented or occupied beyond
dosiing the fact and term thereof shall be stated herein and thetenant(s) or occupants disclosed pursuantto Standard F. Seller shall deliver occupancyof
Property at time ofdosingunless otherwise stated herein. If occupancy is to be delivered before dosing, Buyer assumes all risk ofloss to Property from date of
oompancy, shall be responsible and liablefor maintenance from that date, and shall be deemed to have accepted Property in its existingeondition asoftime of
taking oompancy unless otherwise stated herein.
LX. TYPEWRIWEN OR HANDWRIWEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions
ofthis Contract in conflict with them.
X. RIDERS: (CHECK those riders which are applicable AND arc attadzed to this Contract):
(a) [J COASTAL CONSTRUCTION CONTROL LINE (e) INSULATION
(b) (J CONDOMINIUM (f) [] "AS IS"
(c) FOREIGN INVESTMENT IN REAL. PROPERTY TAX ACT (g) r] IIOMEOWNERS' ASSOCIATION DISCLOStJRE
(d) VA/ FILA (h) [] RW-- SIj) - NTIA I, AD BASED H RD DISCLOSURE
(i)X Wd,
- .. —
FAIL/BAR-4 Revised 12/95 (C) 1994, Florida Association ofRealtors(R) P.O. Box 725025 Orlando, Florida 32872°5025 All Ruts Reserved Page 1 of
This forret is li=sed for use by ISG -McAllister Publishing 303-546-6355
XI. ASSIGNABILITY: (CIIECK ONLY ONE): Buyer [] may assilpi and thereby be released from any further liability under this Contract; [J nhay anigth
but not be released from liability under this Contract; or >0 may not assigth this Contract.
XII. DISCLOSURES:
(a) Radon is a naturally occurring radioactive gas that w hen accumulated in a building in sufficient quantities may presenthealth risks to persons who fire
exposedto itover time. Levels ofradon that exceed federal and state gwidelines have been found in buildings in Florida. Additional information regarding
Radon or Radon testing maybe obtained from your County Public Health unit.
(b) Buyer mayhave determined the energy efficiency ratingofthc residential building, ifany is located on the Real Property.
(c) Ifthe Real Property includes pre•1978reside:-:�alhousingthen Paragraph X (h) is nuindatory.
XIII. MAXIMUM REPAIR COSTS: Seller shall not be responsible for the payment of costs uh excess of
(a) $ . N/A fortreatment and repair under Standard 1) (ifbiank, then 2% ofthe Purchase Price).
(b) $ N/A for repair and replacement tinder Standard N (ifblank, thern 3% ofthe Purchase Price).
XIV. SPECIAL CLAUSES: If additional space; is required, attach addendum and C14EC;K 1-II?RE LJ .
THIS IS INTENDEDTO BEA LEGALLY BINDING C;CiNTRAC:T. IF N(Y1' MILLY UNDERSTOOD, Sh.I?K'rIJVADuJ0: OF AN ATTORNEY
PRIOR TO SIGNING. TIUS FORM HAS BEEN APPROVED BY TIIF, h'1,0111DA ASSO(IATION O1?'A1?4Vt6 Aifi ,0'11U,? h'LUItiDA BAR.
Approval does not constitute an opinion that any of the terms and conditions in this Contract should be *;ed by the partite; 'W particular transaction.
Terms and conditions should be negotiated based upon the respective interests, objectives and b gs�►.tt7�gpositiurts vfall interd liprsons.
1111000
-AlAwl
J /-.I-
(Buyer) Lothar reran ate) (Seller) ,*C ® K,+,` `tl (Date
Social or axl.D. # _ Sodal Security ar.t.i�l, #i _i�� �3CC
Apr
�
(BuPaul. e L . ran ( ate) (Seiler) William M. Napier ( )
Social Security or Tax I.D. # Social Security or Tax I.D. # _&ght—of—Way gent_
Deposit under Paragraph 11 (a) received; IF OTHER THAN CASH, THEN SUBJECI' TO CLEARANCE.
(Escrow Agent)
BROKER'S FEE: The brokers named below, including listingand eooperatingbrokers, arethe onlybrokers entitled to compensation in connection with this
Contrad:
Nat -fie
Listin gBroker
Cooperating Brokers, if any
STANDARDS FOR REAL ESTATI? TRANSACTIONS
A. Evidence oMde:(1) An abstract oftitle prepared or brougfhtuirrent by reputable and existingabstrad firm (if not existingthetii certified as carred by an
existing firm) purportingto be an accurate urate synopsis ofthe instruments altedingtitle to the Real Property recorded in the publicrecords of the countywherein the
Real Property is located through Effective Date. It shall commence with the earlie%t publicrecords, or such later date as may be caastonhary in the county. Upon
dosing ofthis Contract, the abstract shall become the; property of Buyer, subject to the right of retention thereofby first mortgagee until fullypaid. (2) Atitle
insurance commitment issued by a Florida licensed title insurer agreeingto issue; Buyer, upon recording ofthe deed to Buyer, an owner's policy of title insurance
in the amount ofthepurchase price, insurin g Buyer's title to the Real Property, subject onlyto liens, encumbrances, exceptions or qualifications provided in this
Contract and thoseto be discharged by Seller at or before dosing Seller shall chnveymarke..able title subject onlyto liens, encumbrances, exceptions or qualificat-
ions provided in this Contract. Marketable title shall be determined according to applicable 'Title Standards adopted by authorityof The Florida Bar and in accord-
anm with law. Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine it. If title is found defective,
Buyer shall within 3 daysthereafter, notify Seller in writingspecifyingthe defed(s). If defect(s) render title unmarketable. Seller will have 30 days from receipt of
noticeto removethe defects, failingwhidh Buyer shall, within five (5) days after expiration ofthe thirty (30) day period, deliver written notice to Seller either: (1)
extending thetime for a reasonable period not to exceed 170 days with in wh icih Seller shall use diligent effort to remove the defects; or (2) requesting a refund of
deposit(s) paid which shall be immediately returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted thetitle as it then is. Seller
shall, iftitle is found unmarketable, use diligent effort to correct defect(s) within the time provided therefor. If Seller is unableto timelyeorretthe defects, Buyer
shall either waivethe defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligation underthis Contract.
B. Pun hese Money Mortgeage; Security Agreementto Seller. A purchase money mortgage and mortgage note to Seller shall provide for a 3Uay grace; period in
the event of default if first mortgage and a 15 -day grace period if a second or lesser mortgage; shall provide for right ofprepayment in whole or in part without
penalty, shall permit acceleration in event oftransfer ofthe Real Property; shall require all prior liens and encumbrances to be kept in good standingand forbid
modifications ofor future advances under prior mortgage(s); shall require Buyer to maintain policies of insurance containing a standard mortgagee dause covering
all improvements located on the Real Property against fire and all perils included within the tern "emended coverage endorsements" and such other risks and
perils as Seller may reasonable require, in an amount equal to their highest insurable value; and the mortgage, note and security agreement shall be otherwise in
form and content required by Seller; but Seller may onlyrequire dauses and coverage customarily found in mortgages, mortgage notes and security agreements
generally utilized bysavinp and loan institutions or state or national banks located in the countywherein the Real Property is located. All Personal Property and
leases being conveyed or assig red will, at Seller's option, be subject to the lien of a security agreement evidenced by recorded finaneingstatements. If a balloon
mortgage, the finalpayment will exceed the periodic payments thereon.
C^ Survey: Buyer, at Buyer'sexpense, within time allowed to deliver evidence of titic: and to examine same, mayhavetlic Real Property surveyed and certified by
a registered Florida surveyor. If the surveydisdoses encroadhments on the Deal Property or that improvements looted thereon encroach on setback lines, ease-
ments, lands ofothers or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect.
D. Teenalt;eus: Buyer, at Buyer's expense, within the time allowed to deliver evidence of title, mayhave the Property inspected by a Florida Certified Pest Control
Operator ("Operator") to determine if there is any visible active termite infestation or visible damage from termite infestation in the Property. If either or both are
found, Buyer shall have 4days from date of written notice thereofwithin which to have cost of treatment, if required, estimated by the Operator and all damage in-
spected and estimated by a licensed builder or general contractor. Seller shall pay valid costs of treatment mid repair of all damage up to the amount provided in
Paragraph XIII(a). Ifestimated costs exceed that amount, Buyer shall have the option of aancelingthis Contract within 5 days after rewipt of contractor's repair
estimate by givingwritten noticeto Seller or Buyer mayeledto proceed with the transaction, and receive a credit at dosingon the amount provided in Paragraph
XIII(a). "Termites" shall be deemed to include all wood destroying organ isms required to be reported underthe Florida Pest Control Act, as amended.
L Ingmssand Egress: Seller warrants and represents that there is ingress and egressto the Real Property sufficient for its intended use as described in Paragraph
VII hereof titleto which is in accordance with Standard A.
F. Leases: Seller shall, not less than 15 days before dosing, furnish to Buyer copies ofall written leases and estoppel letters from each tenant specifyingthe nature
and duration oftheteriant's occupancy, rental rates, advanced rent and security deposits paid byte✓nant. If Seller is unable to obtain such letter from each tenant,
the same information shall befurnished by Seller to Buyerwithin thattime period in the formofa Seller's affidavit, and Buyer maythereafter contact tenants to
confirm such information. Seller shall, at dosing, deliver and assign all original leases to Buyer.
G. Keens: Seller shall furnish to Buyer attime of dosing an affidavit attestingto the absence, unless otherwise provided for herein, of any financing statement,
claims of lien orpotential lienors known to Seller and further attestingthat there have been no improvements or repairs to the Real Propertyfor 90 days immed-
iatelyprecedingdate ofdosing, Ifthe Real Propertyhas been improved or repaired within thattime, Seller s hall deliver releases or waivers of construction liens
executed by all general contractors, subcontractors, suppliers and materialmse n in addition to Seller's lien affidavit settingforth the names of all such general con-
tractors, subcontractors, suppliers and materialmen, further afiirmingthat all charges for improvements or repairs which could serve as a basis for a construction
lien or a claim for damages have been paid orwill be paid atthe dosingofthis Contract.
R Plicae of Closing: Closing shall beheld in the county wherein the Real Property is donated atthe office of the attorney or other dosing agent designated by Seller,
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This form is licensed for use by ISG -McAllister Publits ping 343.546.6355
L TIm:In oomputingtimeperiods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided
for herein which shall and on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m oftha next business day. Time is ofthe essence in this Contract.
4 l oc uaaents forClosing: Seller shall fiarnislh the deed, bill ofsale, construction lien affidavit, owner's possession affidavit, assighnnents of leases, tenant and mor-
tgagee estoppel letters and corrective instruments. Buyer shell fiurnish dosingstatement, mortgage, mortgage note, security agreement and financing statements.
K EWnws: Documentary stamps on the deed end reeordingof corrective ihhLtrunxmts shall be paid by Seller. Documentary stamps and intangible taxon thepur-
chase money mortga8e and any mortgage assumed, and rdWrdingofpurdiase money mortgageto Seller, deed and financingstatements shall be paid bythe Buyer.
Unless otherwise provided bylaw or rider to this Contract, charges forthe followingrelated title services, namely title or abstract charge, title examination, and
settleameatand dosingfee, shall be paid by the par:; responsible for furn ish ingthe title evidence in aa:ordaneewith ParagraphV.
L. Pwmtlan.3; Ckedita: Taxes, assessments, rent, interest, insurance and other expenses ofthe Propertyshall be prorated through the daybefore dosing Buyer
shallhavethe option oftaking over existingpolicies of insurance, if assumable, in which eventpremiums shall beprorated. Cash at closingshall be increased or de-
creased as maybe required by prorations to be made through dayprior to dosing or occupancy ifoocupancyooaurs before dosing Advance rent and securitydepp-
osits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's taxwith due allowr-
ance nude for maximum allowable discount, homestead and other exemptions. Ifdosi ng occurs at a date when the current year's millage is not fixed and current
year's assessment is available, taxes will be prorated based upon such assessnnc tit and prior year's millage. If current year's assessment is not available, then tares
will be prorated on prior year'stax. If there are completed improvements on the Real Property by January 1st of year ofdosuhg, which improvements werenot in
cxistencc on January 1st of prior year, then taxes slhall be prorated based upon prior year's nnillagie and at an equitable assessment to be agreed upon between the
parties; failingwhich, request shall be made to the County Property Appraiser for an in formal assessmenttakinginto account available exemptions. Atax prora-
tion based on an estimate shall, at request ofeither party, be readjusted upon receipt oftax bill on condition that a staternentto that effect is signed at dosing
M. SpecW Assessmentllens: Certified, confirmed and ratified special assessmc,.nt liens as of date ofdosimg(not as of Eflective Date) are to be paid by Seller.
Pending liens as ofdate of dosing shall be assumed by Buyer. Ifthe improvement has been substantiallycompleted as ofE ffedive Date, any pendinglien shall be
considered certified, confirmed or ratified and Seller shall, at dosing be charged an amount equal to the last estimate or assessment for the improvement by the
publiobody.
N. Inspection, Repalrand Malntenanee: Seller warrantsthat, as of 10 days prior to dosing, the veiling, roof(uhdudingthe fascia and soffits) and exterior and in-
teriorwalls, foundation, seawalls (or equivalent) and dockage do not have any Visible Evidence of leaks-, water damage or structural damage and thatthe septic
tank, pool, all appliances, mechanical items, heating, cooling, electrical, plumbing systems and machinery are in Working Condition. The foregoing warranty shall
be limited to the items specified unless otherwise provided in an addendum. Buyer may, at Buyer's expense, have inspections made of those items bya firm or ind-
ividual spehialbingin home inspections and holdingan occupational license for such purpose (if required) or by an appropriately licensed Florida oontrador.
Buyer shall, priorto Buyer's occupancy or not less than 14 daysprior to dosing, wtnidnever occurs first, report in writingto Seller such items that do not meet the
above Omdards alto defects. Unless Buyer timely reports such defects, buyer shall be deemed to have waived Seller's warranties as to defects not reported. Ifre-
pairs or replacements arc required to comply with this Standard, Seller shall cruse thernto be made and shall pay up to the amount provided in Paragraph XIII(b).
Seller is not required to make repairs or replacements ofa eosmet.icnature unless caused bya defect Seller is responsible to repair or replace. Ifthe cost for such
repair or replacement exceeds the amount provided in Paragraph XIII(b), Buyer or Seller may elect to paysudh excess, tailing which either party maycancael this
Contract. If Seller is unable to correct the defects prior to dosing the cost thereof shall be paid into escrow at dosing, Seller shall, upon reasonable notice, provide
utilities service and access to the Property for inspections, including a walk-through prior to dosing, to cconfirmthat all items of Personal Propertyare on the Real
Property and, subjedto the foregoing that all required repairs and replacements have been made clad thatthe Property, induduhg, butnnot limited to, lawn, shrub-
bery and pool, ifany, has been maintained in the condition existing as of Effedive Date, ordinary wear and tear eycepted.
O. Risk Of Loss: If the Property is damaged byfire or other casualty before dosing and cost of restoration doesnot exceed 3% ofthe assessed valuation ofthe
Property so damaged, cost of restoration shall bean obligation ofthe Seller and dosing shall proceed pursuant to the terms ofthis Contract with restoration costs
escrowed at dosing Ifthe cost of restoration exceeds 3% ofthe assessed valuation of the Property so damaged, Buyer shall have the option ofeither taking the
Property as is, together with either the 3% or any insurance proceeds payable by virtue ofsudh loss or damage, or of mnceling this Contract and reeeivingreturn
ofthe deposit(s),
P. Proceeds of Sale; Closing Procedure:The deed shall be recorded upon dearance offiunds. If an abstract of title has been furnished, evidence of title shall be
continued at Buyer's expense to show title in Buyer, without any encumbrances or than gewhich would render Seller'stitle unmarketablefronsthe date ofthe last
evidence. All dosingproeeeds shall beheld in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after dos-
ing date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5-dayperiod, notify Seller in writingofthe defect and Seiler
shall have 30 days from date of receipt ofsudh notification to cure the defect. If Seller fails to timely cure the defect, all deposit(s) and closingfunds shall, upon
written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall return the Personal Prop-
erty, vacate the Real Property and reeonvey the Propertyto Seller by special warranty deed and bill of sale. If Buyer fails to make timelydemand for refund, Buyer
shall take title as is, waivingall rights apinst Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed
or bill ofsale. Ifaportion ofthe p urch ase p rice is to be derived from institutional fin ancin gor refinancing requirements ofthe len d in g institution as to place, time
ofday and procedures for dosing and for disbursement ofmortgage proceeds shall control over eontraryprovision in this Contract. Seller shall havethe right to
require from the lending institution a written oommitmentthat it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to
Buyer -mortgagor. The escrow raid dosingprovedure required by this Standard shall be waived if thetitle agent insures adverse matters pursuant to Section
627,794 1, F.S., as amended.
Q. Escrow: Any escrow agent ("AgeanV) receiving funds or equivalent is authoriwd and agrees by aoxptan cc of them to deposit them promptly, hold same in
emowand, subjcdto clearance, disburse them in accordance with terms and conditions ofthis Contract. Failure offunds to dear shall not excuse Buyer's perfor-
umcc, If in doubt as to Ageant!s duties or liabilities under the provisions ofth is Contract, Agent may, at Agent's option, continue to hold the subject matter ofthe
escrow until the parties hereto agree to its disbursement or until a judgement of a court ofeompetent jurisdiction shall determiuhe the rights of the parties, or
Agent may depositsame with the derk of the circuit court having jurisdiction ofthe dispute. Upon notifying all parties concerned ofsuch action, all liability on the
part of Agent shall fullyterminate, except to the extent ofaccounting for any iternspreviously delivered out ofescrow. If a liainsed real estate broker, Agont will
oomplywrith provisions ofChaptor 475. F.S., as amended. Anysuit between Buyer and Seller wherein Agent is made a party because ofacting as Agent hereunder,
or in any suit wherein Agent interpleads the subject matter ofthe escrow, Agent shall recover reasonable attorneys fees and costs incurred with these amountsto
bepaid from and out ofthe escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agehtshallnot be liableto
any party or person for misdelivery to Buyer or Seller of items subjedto the escrow, unless such misdelivery is due to willful breach oftheprovisions ofthis Con-
tract or gross negligence of Agent.
R. Attorney's Fees; Costs: In any litigation, including breads, enforcement or interpretation, arising out ofthis Contract, the prevailingparty in suds litigation,
which, for purposes ofthis Standard, shall include Seller, Buyer and anybrokers acting in ageneyor nonagehcy relationships authorized by Chapter 475, F.S., as
amended, shall be entitled to recover from the non«prevailingparty reasonable attorneys fees, costs and expenses.
S. Failure of Perfornunce: If Buyer failsto perform tlhis Contract within the time specified, including payment ofall deposits, the deposits) paid by Buyer and
depoWs) agreed to be paid, maybe recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for the execution of
this Contract and in full settlement ofany daims; whereupon, Buyer and Seller shall be relieved of all obligations underthis Contract; or Seller, at Seller's option,
may proceed in equityto enforce Seller's rights under this Contract. Iffor any reason other than failure ofSellerto make Seller's title marketable alter diligent
effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specificperforamamee or elect to receive the return of Buyer's deposit(s)
without thereby waiving any action for damages resultingfrornSeller's breads.
T. Unbad NotRecotdable; Persons Bound; Notice: Neither this Contractnor anynotice of it shall be recorded in any publiereeords. This Contract shall bind
and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall induce plural and one gender shall include all.
Notice given byorto the attorneyfor any party shall be as eff'edive as ifgiven by or to that party.
U. Conveyance: Seller shall convey title to the Real Property by statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to the
status of Seller, subject onlyto matters contained in Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, at the request ofthe Buyer, be
transferred by an absolute bill ofsale with warranty oftitle, subject onlyto suds matters as may be otherwise provided for herein.
V. OtiherAgaeenhesnts: No prior or present agreements or representations shall be bindingupon Buyer or Seller unless indud ed in this Contract. No modification
to or change in this Contract shall be valid or bindin gupon the parties unless in writing and executed bytheparty or parties intended to be bound by it.
W.'Wananty: Seller warrantsthatthere are no facts known to Seller materially affecting the value ofthe Property which are not readily observable by Buyer or
which haven otbeen disclosed to Buyer.
The Florida Association of Realtors and local Board/ Association of Realtors make no representation as to the legal validity or adequacy of
anyprovision ofthis form in any specific transaction. This standardized form should not be used in eorq)lex transactions or with extensive
riders or additions. This foram is available for use by the entire real estate indussxy and is not intended to idactity the user as a
REALTOR(R). REALTOR(R) is a registered colledivo membership markthat maybe used only byreal estate licensees who are members
ofthe National Association of REALTORS(R) and who subscribe to its Code of Ethics. 717 he mpyright laws of the United States (17 U.S.
Code) forbid the unauthorized reproduction ofblank forms by any means including facsimile or computerized forms.
F'AR/BAR-4 12195 Copyright 1995, Florida Association of Reahors(R) P.O. Box725025 Orlando, Florida 32M.-5025 All Rights Reserved Page 3 of 3
This fora is hoensed for use byISG-McAllister Publishing 303-546-6355
ADDENDUM TO
CONTRACT FOR SALE AND PURCHASE
Between
Indian River County, a Political Subdivision of the State of Florida (Seller)
and
Lothar K. Zeran and Paulette L. Zeran, his wife (Buyers)
This ADDENDUM is to be attached hereto and made a part thereof to the Contract for Sale
and Purchase for Lothar K. Zeran and Paulette L. Zeran, his wife.
"Sellers are conveying the subject property to Buyers in exchange for property
described in Exhibit "B", attached hereto and made a part thereof. In the event
Seller is unable to acquire Fee Simple Title to property described in Exhibit "B", this
contract shall be considered void."
(Buyer) Lothar K. Zerffllr %or- Gate Ve
Atoxo Y* Ay. //
lsuwr) PauWdeL. n (Date)
e�l
• � a -7
(Seller) Carol yo K. Eggei(Date)
Chair ars, Boa: of County
Commissioners
(Seller) William M Napier (Date)
County Right -of -Way Agent
Indian River County ApprovedHDa t e
Administration
7
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rigni-m-way vuouia aaverseiy affect the subdivision potential, eliminating one . t
possible site. If the right -of -sway was donated, there is a possibility of still f } d
being allowed to include this area to establish total land area for `{
subdivision/density requirements. Assuming only three sites are currently F
allowed, there would be no reduction in the number of sites allowed after the
.7156 acre sale to the county.
William
M. Napier, SRPA, SRA
Right -of -Way Agent
WMN:blf/ahmqd
cc: Terry B. Thompson, P.E., Manager, Capital Projects
FILE
June l.2,1997
�Othar K. & Paulette L. Zeran
5600 11' Street 8W
Vero Beach, FL,, 32968
E %P.remit
11* lf"Sm-7 Improvelments
Oountty- Project 1Vo-8823
Parcel No. 131 (Right-of-way Acquisition)
Dear Mr,, & Mrs. Zeran:
As we discussed at our meeting on the evreu ig of June 11, 19979 this letter is in
response to your questions regarding the costs of the road Improvements for 1"
Street SW, and the water line which will be installed for the nearby Hammock
Lakes development,
1) The costs of bridge replacement at 1" Street SW and 58th Avenue, and the
Paving, swales, and related improvements along lot Street SW will be at no
Cost to you. The costs will be borne by Indian River County and the
developer of Hammock Lakes Subdivision,
2) The water line Planned Hammock Lakes Subdivision will be paid for by
the developer and Indian River County, You will not bear any of the cost
until Your Property is developed and you decide to hook up to the line.
We appreciate your 0. 'not the time to meet with us, and hope this saitisfactorIV
answers your questions. Should you need nal information, please call me
at 867-8000, 'ext. 246,
Sincerely,
es W, Davis, P.
Public W, orks Director
CrA
V.rtf
ID: -.L
cc: Matt Napier, RIA-ght of Tray .A -gent
I
"XI
L Zee
cc: Robert M. Keating, AICA' Eric Blad
John McCoy, AIC]P
ulcis\schwuU.mem