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1997-274
CONTRACT FOR SALE AND PURCHASE FLORIDA ASSOCIATION OF REALTORS AND `f HE FLORIDA BAR PARTIES: ...__ _.._ __.^_... __,Lot ,��]�.�1t_at141_..�mi�����.�.�_,__....11;►!�.��e�►.,...__h�,It_.�1�1�� _W.w._._ �._ _._._ ('°Seller") of 20 Miraela Pl±�,at � h._ �' .9 idt�.__ _ �5�.. (Phone) �_(. L���(i��.► and Indian ty . oliti-01--amb-mi SIVA—Q. Cha S t; � w t . o_ t"__. _— (tBuyer ")+ of 18�® 2' h. t4 .. 1 ._ altl h._. ►tt,1C .4 t,�_ f Q.__._ .�......_ _..- (Phone) ._. � ��Li Z-8000 hereby agreethat Seller shall sell and Buyer shall buythe followingReal Propertyand Personal Property (collectively "Property") upon the foilowingterms and conditions, whist INCLUDE Standards for Real Estate Transactions ("Standard(s)") on the reverse stele or attached hereto and riders and addenda to this Contrad for Sale and Purchase ("Contract"). L DESCRIP'T'ION: (a) Legal description of Real Property located in r Indian._$kVpr- _- Chanty, Florida: Sac laical dascrip�..Xh.bi '►�" attahad.� �ad__iI4� ,1 �..__h�Q,___ ___ (b) Street address, city, hp, ofth e Property is: _ � 1ffit reet��_ ght—a�"—Way .CountY_.PX.� (c) Personal Properly: Nona . A-1 ion Ie1 #13..L—C-9.zit4 acros Ryan exchange Say► � kttaahed_ n to C.Q Ac_t fczr B 1* and 2urahaaa PZJMBA NO'1'IS St)D, ,C1T_ TQ INDIAhi IVEi _.C_OUNTX FINAL APPROVAL MPURCHASE PRICE...................................................................................................................................................... $ Exchange PAYMENT: Exchange -- (a) Deposit held in escrow by _ in the amount of ........................ $ 0 (b) Additional escrow deposit within days after Effective Date (as defined in Paragraph III) in the amount of .............. $ 0 (c) Subject to AND assumption ofmortg;tge in good standingin favor of having an approximate present principal balance of ....................... $ 0 (d) Purchase money mortgage and note (see addendum) in the amount of.............................................................................. $ 0 (e) Other: $ (t) Balanoe to dose byU.S. cash, LOCALLY DRAWN certified or cashier's chedcor third -party loan, subjedto adjustment`s andprorations..................................................................................................................................................................... $_____ZXChAn_aQ IH. TiME 1K)RAC:C1?,FI'ANCY.OFOF147M-, irhT+'FWTIVRDATE; PACNIMiLE: ifthis offer is notexecuted by and delivered to dI1 parties OR FACT OF EXECUTION unmmunicated in writing between the parties on or before _ _��� daYta , the deposit(s) will, at Buyer's option, be returned to Buy- er and thisoffer withdrawn. The date ofContrad ('74ective Date") will be the date when the last one of the Buyer and Seller has sign edthis offer. A facsimile copy ofthis Contract and any signatures hereon shall be considered for all purposes as originals. IV. FINANCING: (a) Ifthe purchase price or any part ofit isto be financed by a third -party loan, this Contract is oonditioned on Buyer obtain ingawritten conmhitmentwithin days after Effective bate for (CIIECK ONLY ONE): Q a fixed; [ Y] an adjustable; or [-] a fixed or adjustable rate loan for the principal amount of$ , at an initial interest rate not to exceed %, disouunt 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 conwi tment and, thereafter, to satisfy theterms and conditions ofthe commitment and dose the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain tiheoommitment or fails to waive Buyer's rights under this subparagraph within the time for obtaining the commitment the terms and conditions ofthe oommitment, then either party thereafter, by written notice to the other, mayean©el this Contract and Buyer shall be refunded the deposit(s); or (b) The existing mortgage described in Paragraph II(c) above has (CIiECKONLY ONE): 0 a variable interest rate; or ❑ a fixed interest rate of per annum Attime oftitletransfer some fixed interest rates are subject to 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 agreedto assume a mortgagewhidh requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the necessary application and diligently oomplete and return itto the mortgagee. Any mortgagee charge(s) not to exceed $ _ shall be paid by Buyer. If Buyer is not accepted byrnortgagee or the requirements for assumption are not in acaordaneewith the terms ofthis Contractor mortgagee makes a charge in excess ofthe stated amount, Seller or Dyer may rescind this Contradbywritten notice to the other partyunless either elects to paythe increase in interest rate or exoessmortgagee charges. V. TITLE EVIDENCE: At least days before dosing date, butno earlier titan days after Seller receives written notification that Buyer has obtained the loan commitment or been approved for the loan assumption as provided in Paragaphs IV(a) and (b), above, or, if applicable, waived the finan- cing requirements, (CHECK ONLY ONE): [_1 Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, or X Buyer shall at Buyer's expense obtain, in accordance with Standard A, M abstract oftitle; or X title insurance commitment (with legible copies of instruments listed as exceptions) and, after dosing, an owner's policy oftitle insurance. VI. (DOSING BATE: Th is transaction shall be dosed and the deed and other dosingpopers delivered on orZ� unless dified by other provisions ofthis Contract. 'rmtiV@uawnt' III'° VIL RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall taketitle subjedto: comprehensive land use plans, zoning, restrictions, 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 reoard (easements are to be located contiguousto Real Property lines and not more than 10 feet in width as to the rear or front lines and 71/ 2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of dosing and subsequent years; assumed mort&iges and purchase money mortgages, if any, (if other matters, see Paragraph XV); provided, thatthere exists at dosingno violation ofthe foregoing and none of themprevents use ofthe Property for _ road ,ugh,--��____— -- - w purpose(s). VIII. OCCUPANCY: Seller warrants that there are no parties in oompancyother Chan Seller; but, if Property is intended to be rented or occupied beyottd dosing, the fad and terms thereof shall be stated herein and thetenant(s) or occupants disclosed pursuantto Standard F. Seller shall deliver oecupancyof Property at time ofdosingunless otherwise stated herein. If occupancy isto be delivered before dosing, Buyer assumes all risk ofloss to Property from date of oompaney, shall be responsible and liable for maintenance from that date, and shall be deemed to have accepted Property in its cxistingoondition as oftime of taking oompancyunless otherwise stated herein. IX TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions ofthis Contract in oonflict with them. X„ RIDERS: (CHECK those riders which are applicable AND are attached to this Contract): (a) [:] COASTAL CONSTRUCTION CONTROL LINE (e) E] INSULATION (b) ❑ CONDOMINIUM M 0 "AS IS" (c) FOREIGN INVESTMENT IN REAL, PROPERTY TAX ACT (g) �] HOMEOWNERS' ASSOCIATION DISCLO`�;1RE (d) ❑ VA/ FHA 01)(� RE Ill L BA � ,�4"C SURE _ FAR/BAR-4 Revised 12/95 (C) 1994, Florida Association ofRealtors(R) P.O. Box725025 Orlando, Florida 32872"5025 All Rights Reserved Page 1 of }f. This form is licensed for use byISO-McAllister Publishing 303-546-6355 a • It XI. ASSIGNABILITY: (CHECK ONLY ONE): Buyer [] may assign and thereby be released from anyftrrther liability under this Contract; ® mayassigh but not be released from liability tinder this Contract; or R maynot assi®h this Contract. III. DISU"URES: (a) Radon is a naturally occurring radioactive gas that when accumulated in a building 4i sufficient quantities may present health risks to persons who are exposedto itover time. Leveis ofradon that exceed federal and state guidelines have beern found in buildingu in Florida. Additional information regarding Radon or Radon testing maybe obtained from your County Public Health unit. (b) Duyer mayhave determined the energy efficiency ratingofthe residential buildin& ifany is located on the Real Property. (c) Ifthe Real Property includes pre-1978residential liotlsingihen Paragraph X (h) is mandatory. XIU. MAXIMUM REPAIR".)STS: Seller shall not be responsible fin• the payment of costs in excess of (a) $ for treatment and repair under Standard D (if blank, then 2% ofthe Purchase Price). (b) $ N/A fpr repair and replacement under Standard N (if blank, then 3% ofthe Purchase Price). XIV. SPECIAL CI,AUSE.S: If additional space is required, attach addendum and CHECK HERE THIS IS iNTENDED.T( DVAd L W%,ALLV BINDING CONTRACT. IF NOT F111,LV UNDERSTOOD, SEEK THEADVICF. OF AN ATTORNEV PRIOR TO SIG,'i j1VI S BEEN APPROVED BY TIP', FLORIDA ASSOCIA'T'ION OF REALTORS AND THE FLORIDA BAR. Approval does-hhq Lute :on lniohr that any of the terms and conditions in this Contract .should be accepted by the parties in a particular transaction. Terms an coc ip ould[*hjego Wed upon the respedive interests, objectives and bargaining positions ofall interested persons. - /am (Buyer) aro yn K. t (Da e) eller Lothar ®ran (Dat O Social Sectiir,'ax�I.I?r �� Social S tr or ax I. . E (Bum) Wiff l iu'fi N4Epjer (Date) (Sell Paul tte zaran (Date) Social SecurityorTaxI.D. # E ght—old=Nay ,"n_ Social Security or Tax I.D. # Deposit under Paragraph Il (a) received; IF OTHER THAN CASH, Tl Il;N SUBJECT TO CLEARANCE. (Escrow Agent) BROKER'S FEE: The brokers named below, including listingand coop crating brokers, are the only brokers entitled to compensation in connection with this Contract: Name - - - �_. NZA Listing Broker Cooperating Brokers, ifany STANDARDS FOR REAL ESTATE TRANSACTIONS A. Evidence ofTide: (I) An abstract oftitle prepared or brougf ht current by a reputable and existing abstract firm (if not existingthen certified as correct by an existing firm)purportingto be an accurate synopsis ofthe instruments affectingtitleto the Real Property recorded in the publicreeords ofthe countywherein the Real Property is located through Effective Date. It shall commence with the earliest public records, or such tater date as maybe custorn-ary in the county. Upon dosing ofthis Contras, the abotract shall become. the propeety of Buyer, subjectto the right of retention thereofby first mortpSee until fully paid. (2) Atitle insurance commitment issued by a Florida licensed title insurer agreeingto issue Buyer, upon recording ofthe deed to Buyer, an owner's policyof title insurance in the amount ofthe purchase price, insuringBuyer'stitleto the Real Property, subject onlyto liens, encumbrances, exceptions or qualifications provided in this Contractand those to be discharged by Seller at or before dosing Seller shall eonveyniarketable title subject onlyto liens, encumbrances, exceptions or gtualificatt- ions provided in this Contract. Marketable title shall be determined aeeordingto applicable Title Standards adopted by authority of The Florida Bar and in accord- ance withh law. Buyer shall have 30 days, ifabstrad, or 5 days, if title commitment, from date of receiving evidence oftitle to examine it. If title is found defective, Buyer shall within 3 daysthereafier, notify Seller in writingspecifyingthe defect(s). If defects) render title unmarketable, Seller will have 30days from receipt of notieeto rem ovethe defects, failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending thetime for a reasonable period not to exceed 120 days within which 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 failsto 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 corred defed(s)within the time provided therefor. IfSeller is unableto timelyeorredthe defects, Buyer shall either waive the defects, or receive a refund ofdeposit(s), thereby releasing Buyer and Seller from all further obligation under this Contras. Be Paidume MoneyModpige; Security Agmementto Seller. Apurchase moneymortgage and mortgagenote to Seller shall provide for a 30 -day grace period in the event of default ifa first mortgage and a 15-daygraeeperiod 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 encumbraneesto 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 clause covering all improvements located on the Real Property against fire and all perils included within the term "extended 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 mayonlyrequire clauses and coverage customarily found in mortgages, mortgage notes and security agreements generally utilized bysavinga and loan institutions or state or national banks located in the cotintywherein the Real Property is located. All Personal Property and leases being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evidenced by recorded fin an cing statements. If a balloon mortgage, the final payment will exceed the periodic payments thereon. C: Survey: Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, mayhavethe Real Property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located 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. Tenrilim: Buyer, at Buyer's expense, within the time allowed to deliver evidence of title, mayhave the Property inspected by a Florida Certified Pea 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 shallhave 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 and repair of all damage up to the amount provided in Paragraph XIII(a). Ifestimated costs exceed that amount, Buyer shall havethe option of rnncelingthisContract within 5 days after receipt of contractor's repair estimate by givingwritten noticrato Seller or Buyer mayelectto proceed with the transaction, and receive a credit at closingon the amount provided in Paragraph XIII(a). '"Termites" shall be deemed to include all wood destroying organisms required to be reported underthe Florida Pest Control Act, as amended. L. Japmand Egmss: Seller warrants and represents that there is ingress and egressto the Real Property sufficient for its intended use as described in Paragraph VII hereog titleto which is in accordance with Standard A. F. Lamm: Seller shall, not lessthan 15 days before dosing furnish to Buyer copies ofall written leases and estoppel letters from each tenant specifyingthe nature and duration ofthetenant's occupancy, rental rates, advanced rent and security deposits paid bytenant. If Seller is unable to obtain such letter from each tenant, the same information shall be furnished by Seller to Buyer within that time period in the form of Seller's affidavit, and Buyer may thereafter contact tenants to confirm such information. Seller shall, at dosing, deliver and assign all original leases to Buyer. G.1kn s: 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 Property for 90 days immed- istelypreaedingdstoofdosing, Ifthe Real Propertyhasbeen improved or repaired with in that time, Seller shall deliver releases or waivers of construction liens executed by all general contractors, subcontractors, suppliers and materialmen in addition to Seller's leen affidavit settingfoith the names of all such general con- tractors, subcontractors, suppliers and materialmen, further afTrmingthat all charges for improvements or repairs which could serve; as a basis for a construction lien or a claimfor damages have been paid orwill be paid attire ciosingofthisContract. IL Pim ofclosing: Closing shall beheld in the county wherein the Real Property is located at the office ofthe attorney or other dosing agent designate -d by Seller. FAR/BAR-4 Revised 12/95 (C) 1994, Florida Association ofRealtors(R) P.O. Box 725025 Orlando, Florida 32572-5025 All Rights Reserved Page 2 of 7his fornn is licansed for use by 180 -McAllister Publishing 303-546-6355 L Tine:In aaniputingtime periods of lessthan six (6) days, Saturdays, Sundays mid state or national legal holidays shall be excluded. Any time periods provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. ofthe next business day. Time is ofthe essence in this Contract. J Doarnents fordosin`: Seiler shall furnish the deed, bill ofsale, construction lien affidavit, owner's possession affidavit, assigthments of leases, tenant and mor- tppe estoppel letters and corrective instruments. Buyer shall fornish dosingstatcment, mortgage, mortgage note, security agreement and financing statements. X Ezpenses: Documentary stampson the deed and recordingof corrective instruments shall be paid by Seller. Documentary stamps and intangible taxon thepur- chase money mortgage and any mortgage assumed, and rdWrdingafpurchase money mortgage to Seller, deed and financingstatements shall be paid bythe Buyer. Unless otherwise provided bylawor rider to this Contract, charges forthe followin g related title services, namely title or abstrad charge, title examination, and settlemettand dosingfee, shall be paid bythe party responsible for fiimishingthetitle evidence in accordance with Paragraph V. L. Proradons; Ckedits: Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day')efore dosing Buyer shallhavethe option oftaking over existingpolicies of insurance, if assumable, in which eventpremiums shall be prorated. Cash at dosingshall be increased or de- creased as maybe required by prorations to be made through daypriorto dosing or occupancy ifooeupancyooaurs before dosing, Advance rent and securitydep- ositswill be credited to Buyer. Escrowdeposits held bymortgagee will be credited to Seller. Taxes shall be prorated based on the current year's taxwith due allow- ance made for maximum allowable discount, homestead and other exemptions. Ifdosing occurs at a date when the current year's millago is not fixed and current yaw's assessment is available, taxes will beprorated based upon such assessment and prior year's millage. If current year's assessment isnot available, then taxes will be prorated on prior year'stax Ifthere are completed improvements on the Real Property by January 1st ofyear ofdosing, which improvements were not in existence on January Ist of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assessment to be agreed upon between the parties; failingwhidh, request shall be madeto the County Property Appraiser for an informal assessment taking into account available exemptions. Atax prora- tion based on an estimate shall, at request of either party, be readjusted upon receipt oftaxbill on condition that statementto that effed issigied at dosing M. Spedal AssesurientUens: Certified, confirmed and ratified special assessment liens as of date ofdosing(not as of (affective Date) are to be paid by Seller. Pending liens as ofdate of dosing shall be assumed by Buyer. Ifthe improvement has been substantially completed as ofCf edive Date, any pending lien shall be considered certified, confirmed or ratified and Seller shall, at dosirhg, be dharged an amount equal to the last estimate or assessment for the improvement bythe publicbody. N. Inspection, Repatrand Maintenance: Seller warrantsthat, as of 10 days prior to dosing, the ceilin& 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, heatin g, cooling cledricel,plumbingsystems and mach incry are in Working Condition. The forego ingwarranty 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 by a firm or ind- ividual specializingin home inspections and holdingan occupational license for such purpose (if required) or by an appropriately licensed Florida contractor. Buyer shall, priorto Buyer's occupancy or not less than 10days prior to dosing, whichever occurs fust, report in writingto Seller sudh items that do not meet the above standards asto defects. Unless Buyer timely reports such defects, Buyer shall be deemed to have waived Seller's warranties as to defects not reported. If re- pairsor replacements arerequiredto oomply with this Standard, Seller shall cause themto be made and shall pay up to the amount provided in Paragraph XIII(b). Seller is not requiredto make repairs or replacements of cosmetic nature unless caused by a 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 Bled to paysudh excess, failingwhich either party may cancel this Contrail. If Seller is unable to corredthe defects prior to dosing, the eostthereofslhall 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 eonfirmthat all items of Personal Property are on the Real Property and, subjedto the foregoing that all required repairs and replacements have been made and thatthe Property, including butnot limited to, lawn, shrub- bery and pool, ifany, has been maintained in the condition existing as of Effective Date, ordinary wear and tear excepted. O. RiskOfLoxs:Ifthe 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 be an obligation ofthe Seller and dosing shall proceed pursuant to the terms ofthis Contract with restoration costs escrowed at dosing Ifthe eostof restoration exceeds 3% ofthe assessed valuation of the Property so damaged, Buyer shall have the option ofeither taking the Property as is, togetherwith either the 3% or any insurance proceeds payable by virtue ofsudh loss or damage, or of canceling this Contract and rowivingreturn ofthe deposit(s). A Pwamds ofsale; Closing Procedure: The deed shall bereoorded upon clearance offunds. Ifan abstrad ofthic has been furnished, evidence oftitle shall be continued at Buyer's expense to showtitle in Buyer, without any encumbrances or changewhidi would raider Seller's title unmarketablefiomthe date ofthe last evidence. All dosingproceeds shall beheld in escrow by Seller's attorney or other mutually acceptable escrow ageritfora period ofnot 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 Seller shall have 30days fromdate of receipt ofsudh notification to cure the defect. IfSeller failsto timely cure the defect, all deposits) and dosingfunds shall, upon writtai 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 timely demand for refund, Buyer shalltakatitle as is, waivingall rigjhts against Seller asto any intervening defed except as may be availableto Buyer by virtue of warranties contained in the deed or bill ofsale. Ifa portion ofthe purchasepriee is to be derived from institutional financingor refinancing, requirements ofthe lending institution asto place, time ofday and procedures for dosing and for disbursement ofmortgage proceeds slhall control over contrary provision in this Contract. Seller shall havethe right to require from the lendinginstitution a written eommitmentthat it will not withhold disbursement ofmortgage proceeds as a resultof any title defed attributable to Buyer -mortgagor. The escrow and dosingproeedure required by this Standard shall be waived if thetitle agent insures adverse matters pursuant to Section 627.7841, F.S., as amended. Q. P.acxow: Any escrow agent ("Agent") receiving funds or equivalent is authorized and agrees by aoxptanoe of them to deposit them promptly, hold same in eserowand, subjedto clearance, disburse them in aeeordaneewith terms and conditions of this Contract. Failure offends to dear shall not excuse Buyer's perfor- mance. If in doubt asto Amt's duties or liabilities under the provisions ofthis Contract, Agent may, at Agent's option, continue to hold the subjed matter ofthe escrow until the parties hereto agree to itsdisbursement oruntil a judgement ofa oourtofoompetent jurisdiction shall determine the rights oftheparties,or Agentmay depositsamewith the derk of the circuit court having jurisdiction ofthe dispute. Upon notifying all parties concerned ofsudh action, all liability on the part of Agent shall fullytermin ate, except to the extent ofaceountingfor any items previously delivered out ofescrow. If a licensed real estate broker, Agentwill eomplywith provisions ofClhapter 475, F.S., as amended. Anysuit between Buyer and Seller wherein Agent is made a party because of acting 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 prevailingparty. The Agent shall not be liableto any party or person for misdeliveryto Buyer or Seller of items subjedto the escrow, unless such misdelivery is due to willful breadh ofthe provisions ofthis Con- tractor gross negligence of Agent. R. Attorney's Fees; Cbsb:In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailingpartyin such litigation, which, for purposes ofthis Standard, shall indude Seller, Buyer and anybrokers acting in agencyor nonagency relationships authorized by Chapter 475, F.S., as amended, shall be entitled to recover fTomthe non-prevailingparty reasonable attorneys fees, costs and expenses. S. Fallun of Peribminnoe:If Buyer failsto perform this Contract within the time specified, including payment ofall deposits, the deposits) paid by Buyer and deposit(s) agreed to be paid, maybe recovered and retained by and for the ac wunt of Seller as agreed upon liquidated damages, consideration forthe execution of this Contract and in full settlement ofany claims; whereupon, Buyer and Seller ..hall be relieved ofall obligations under this Contract; or Seller, at Seller's option, may proeec,d in equityto enforce Seller's rights under this Contract. Iffor any reason other than failure ofSellerto make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specificperformanee or eled to receive the return of Buyer's deposit(s) without therebywaivin g any action for damages resulting from Seller's breach. T. Contract NotReeordable; Persons Bound; Notice: Neither this Contrad nor anynotiee of it shall be recorded in any publicrecords. This Contract shall bind and inure to the benefitofthe parties and their successors in interest. Whenever the eontextpermits, singular shall include plural and one gender shall include all. Notice given by orto the attorneyfor any party shall be as effective asifgiven byorto that party. U. Qnveyance: Seller shall convey title to the Real Propertyby statutory warranty, trustee's, personal representatives or guardian's deed, as appropriateto the status of Seller, subject onlyto matters contained in Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, atthe request ofthe Buyer, be transferred byan absolute bill ofsalewith warranty oftitle, subject onlyto such matters as may be otherwise provided for herein. V. OtherAgneenents: No prior or present agreements or representations shall be bindingupon Buyer or Seller unless induded in this Centrad. No modification to or change in this Contract shall be valid or bindingupon theparties unless in writing and executed bytheparty or parties intended to be bound by it. W. Wammty: Seller warrantsthatthere are no fads known to Seller materially affeduig the value of the Property wlhieh are not readily observable by Buyer or which havenotbeen disdosed 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 complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR(R). REALTOR(R) is a registered collective membership mark -that may be used only by real estate liomsees -Who are menibers ofthe National Association of REALTORS(R) and who subscribe to its Code of Ethics. The copyright laws of the United States (17 U.S. Code) forbid the unauthorized reproduction ofblank forms by any means indudnng f4csimile or computerized forms. FAR/BAR-4 12195 Copyright 1995, Florida Association of Reakors(R) P.O. Box725025 Orlando, Florida 32872-5023 All Rights Reserved Pags3 of3 Ibis form is licensed for use by ISG-1-AWlister Publishing 303-5464353 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE Between Lothar K. Zeran and Paulette L. Zeran, his wife (Sellers) and Indian River County, a Political Subdivision of the State of Florida (Buyer) 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), and Indian River County, a political subdivision of the State of Florida (Buyer) hereinafter known as "the County". "Sellers are conveying the subject property to Buyer in exchangp, 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." 2) "The ditch located on property described in Exhibit "B" will remain. The County will remove, at its expense, trees to be marked by Sellers along the west side of said ditch." 3) "The County will, at its expense, install a culvert of adequate size and elevation (size and elevation to be determined by County Engineering staff) from the south end of said ditch, running south to the canal which runs east and west along the south side of 1't Street SW." 4) "The culvert running across the subject property, east of the concrete driveway is to remain. Before the road construction is completed, it will be checked for structural integrity, and replaced if necessary, all at County expense. The irrigation control: pte•'at the north end of the culvert shall be moved north onto Sellers remaibr'p"tb'perty and re -installed with the culvert." (Buyeii, GO' lyn;K Eg (Date) (Seller) Lothar ran (Date *Ch Irmah, Beof County Commis 07 sion `C (Buyer) William M. Napier (Date) Pau�Ite L. an (Date) County Right -of -Way Agent 00;? EXHIBIT A- oma* LO-11LG :3113 'DMO GVOV z 0 L% z 0 z az > z — C t IOOJI 10 Qu.' -I IsD3 k.jj b' 0 s - O .0 W "D jE 0 4 -j 0 3: 100 Z 'C � — 0 cn 0 C C 0 OF" 0 0 :3 CL U 0 U 0 I- Q. 0 0 -C :3 Co cn 0 c tmi -0 c C O'D .28Uj 0 c cn '0 Cn in 0 0 L- (n 0 0 U E (U %+-L Cn C 0 4) O"D (n m 0 U L- 0 0 cn 0 U 0 -f-P 0 Q (n %- :6 0 0.0 - 0 .�6cn 0 to 00 L1,v cn *En E 0 10 Z U-1 0) c 0 C �-E c .— 0 LO N LO 4a '00 0 40- E E co 0 ©� of LO 6 0 L- 0.- V -LO �✓ N (U -C • 0 C -C.C U 0 Cn 0 0 W 02 ()0 V) F- It cn J- to to C4 E E :3 0 C t 101DJI 10 Z/ L IS03 Gnaw :3 0 c E c 10 aull Isom 0 (n 4-J m 0 r 0 G4- L- (1) 4 - 0 3� > 0 o :3.- .0 c (L) 4-J -4-J > 4-J UX 0 OCL 0 E U) 4) -Y (f) cn CI L- :3 CL c V) 0,0 C C G 4") 0) :3 .— -0 E -Z EU 0— c c ov- 'UtO.0 -C Vi U E :3 0 0 0 0)() -C 4) m 4) w r- cn in U c 4>t z 0 R .6-0 (D o 0 U C) 01 0 >, 3.c Z vi 2 c -J 00 -0 IV) c ck: Ca 4-j vivo . c �: #-j 0 0 U1 i-- U E 0 z a 04-, C) r_ 41 (n L- U) W C L- 0 0-.6 0 1, 4- 0 0 044 0.4 0 c EXHIBIT A- 00 (A (:) . 0 0 < 0 Cu =r (D a -0 f-4. 0 0 C: =r 0 :7 0 a 2) CL m 0(h fl+. (A " 0 0 .� C) z :r r -l- 4 C-) 3 3 :r m o� =r M OM =r o 0 ::r Cr • 0 2.60 m 3 3 %< 3° a - M 0 0C CL 0 3 3 0 %< a3ro CL 3 CL M 0 - 1" M aVI c 0-00 morn 0 a (no M .0 aF) 0 a C m Oi (D 0 0 0) ;;: 0 Orn a- 0 CANAL Section Line 1ST (0' STREET S. We -------------------- 010 ---------------- Exist. R/W Line ------------------ ------------------ --- --------------- �-- New R/W Line 00 0 0 -+, :r X rn z 0 r4- 0 0 * Z) (D m CEJ -0P-" %< -0 -.:30r-#'C :3 (Dm :3 D Cr (1) =-rri (A0 (D 4s, " m o.-0 -4 7"' XR;v (D CL 00 0 0 6' C" a CL -1 -1 0 :3 W 3 m n w 0 CL,#-� M�D 0 . C 0:•O m0 3 0 0 0 0 C M C :3 r* 0`< (-)0 0 0 (D 0 C &,o m C 3 0 M 0 Q- :3 (D0 1 :3 -rl :3• C) 0 CL r00 0 * M 0 :3 to 0 A- -0 (A (D D (A V) to CL 0 (D En V) C 0 rZt. m 0 C Ln vN 0 WOMEN E AGAR DWG. FILE: 9717—D2.DWG I i� 0 ;u 0 Z 24,99' m (A z Fri 10 (A P? PO m V) z m C) I 91"M KAM NORTH LINE I TRACT 14 (1) 0 fjk�vq rs , mew iU m.A -4 0 ()Q 00'a C (T) (D 0 0 CLW 0 CD 0 0 3: (D CL 0 0- 00 N —4 0 30 > -3 lb ;u 3 8 . 0•CA W 0 0 0 0 Z 0• -#- 1 0 C C A- -1 :, > Ei Oa mFn 0 0 Z CL (D z 0 (D ;u 0 CANAL Section Line 1ST (0' STREET S. We -------------------- 010 ---------------- Exist. R/W Line ------------------ ------------------ --- --------------- �-- New R/W Line 00 0 0 -+, :r X rn z 0 r4- 0 0 * Z) (D m CEJ -0P-" %< -0 -.:30r-#'C :3 (Dm :3 D Cr (1) =-rri (A0 (D 4s, " m o.-0 -4 7"' XR;v (D CL 00 0 0 6' C" a CL -1 -1 0 :3 W 3 m n w 0 CL,#-� M�D 0 . C 0:•O m0 3 0 0 0 0 C M C :3 r* 0`< (-)0 0 0 (D 0 C &,o m C 3 0 M 0 Q- :3 (D0 1 :3 -rl :3• C) 0 CL r00 0 * M 0 :3 to 0 A- -0 (A (D D (A V) to CL 0 (D En V) C 0 rZt. m 0 C Ln vN 0 WOMEN E AGAR DWG. FILE: 9717—D2.DWG I i� 0 ;u 0 Z 24,99' m (A z Fri 10 (A P? PO m V) z m C) I 91"M KAM NORTH LINE I TRACT 14 (1) 0 fjk�vq rs , mew t / � k .BOAR OF COUNTY COMMISSIONERS 1840 25th Street, Vero Bruch, Florida 32960 Telephone: (447) 567-8000 April 1, 1997 Lothar K. & Paulette L. Zeran 5640 1'� Street SW Vero Beach, Florida 32968 RB: 1 st street SW Improvements County Project No, 8823 Parcel No. 131 (Right -of -Way Acquisition) Dear Mr. & Mrs. Zeran: Thank you for meeting with me on the evening of March 2r to discuss the 1" Street SW Improvements project. I understand your concerns, and at your request, 1 am providing the following Information in answer to the questions you posed: 1) The County will set corner markers at the new property corners. If a recent survey was made of the parcel, the County will pay the surveyor to revise the survey to show the new property corners. 2) The corrugated metal pipe running underneath the road and used for grove drainage, can remain. The County will examine its condition, and if necessary, replace it at County expense. 3) Property Appraiser data and the assessment map both show your land area at 18.59 acres. Based on the dimensions indicated, the area is 18.36 acres. According to County Zoning, the minimum size for residential use is 200,000 square feet, or 4.5914 acres, requiring 18.3655 acres to subdivide the parcel into four sites. For these purposes a survey should be used in determining the total area. Assuming four sites are currently allowed, the sale of the right-of-way would adversely affect the subdivision potential, eliminating one possible site. If the right-of-way was donated, there is a possibility of still being allowed to include this area to establish total land area for subdivision/density requirements. Assuming only three sites are currently allowed, there would be no reduction in the number of sites allowed after the .7156 acre sale to the County. f s y 1 r .. • r 4 William Illi. Napier, SRPA,A � ;t f r/ Right -of -Way Agent r WMN:bIfls�n�rz�t cc: Tarry B. Thompson, P.E., Manager, Capital Pro' cts d g p e ` FILE 1110 ! 1 tt i . �41�91a'+�liAtt'Y _ � ( i ._ t .. ... .., .. - Kt #4 � a• 3-- 1A. 1XL- x. . C- S is ,1..... � ✓... .s .] . .tel ... r -...r. 1 Y,a u: r - s .+e..d ra... . , ..f . a ,. F» 8a! _ 3. Jl ...... _ r.. r. %:! e ..! re�ra�ws St\ ...1 +l, .k Y. ..3r.... r x .., a s4. ..�...�-.,.R �..d it.11.,� _. �.t• 4..., - - � d.b ., ,S4Cfr7#-J,,I%�. r.. .,....aa..r17�..f3. i,t Yl�:•sr.:.':.'v}`i+t 'i n., _,.,. s... ,.,.vc'hrt+�f� •i..v3,:.a*�ax e.s�vF.er-.:;nrf'Fa#?ia4�5Yfi°I✓S:W;I;t i,aeta.eA,ieiJttY.tit:i2:YAt`�.Yv:J.a$i'id�rm'�i'fi+41�.Ydi�:�¢31a�J.b.taYlx.:t�AS��itawil+d'.lr'i��{:_,. � • /f • ' Board of County Commissioners , ' tD • 640 26tExhibi h Street r Vero Beach .zor 329.0 y Telephone 60" 1.667-8000 tt{ PAZ 66.1- Nrv6-9391 i" ! a 1 June 12, 1997 i Lothar M Paulette L. 3eran t 3800 1" Street SW t Vero Beach FL, 32988 Subject: 1 Street SW Improvements County Project No. 8823 r Parcel NO. 131 (Rist -of -Way AcQu sitlon) Mr. `s Mrs. Zeran-, As We discussed at our meet ng on, the eve of June 11 1997 this letter is nig � , in + response toestions re ar y questions ding the costs of the road improvements for 1 Street Shit, and the Water line Which Will be installed for the nearby Hammock Lakes development, 1) r1lie costs of bridge replacement at 1Street SW and. 58th Avenue, and the paving, sw ales, and related improrvenae33 s along 1" Street €3W Will be at no cost to you. The costs Will be borne by Indian River County and the { ' + developer of Hammock, Lakes Subdivision, vision. ! 2) a Water planned far Ilewaauaa�a►r k Lakes Subdivision Will be d for b paid y the de "loper and Indian River County. You w111 not bear a y of the cost F r until YO`U r property Is developed andf you decide to Yl,QOk '4xp t0 the iin@. f r , . / We aper@ your fii ur tam ti%..e time to meet With us, and ho thJ saaeftwtorny d j 1 :t fit Yy�F rl 5 i2 answers your Westionls. Should you need additional infor=tion, please Gall me f a at S tel/ • 8V 0 V , a ext . 248. f 'ss r 1 Sincerely , + 4 ( # f . f t Y ' 1 i k f k • S Cie rj� l r _ W. Davis, P,13,, F, Public Works Director Gc. Matt l�'apier, �t of Way Agent i 0i Oo ol\Ol.Loe7\ I jDat&97\Wm,un INDIAN RIVER COUNTY, FLORIDA MEMORANDUM Jim Davis, P. E. Public Works ]Director . 4 es 6. Stan Boling, AICP Planning Director June 12, 1997 SUBJECT: Schwartz & Zeran Properties 4 Tax Parcel #s: 16-33-39-00001-0130-00002.0 and 1.0 Exhibit 'D' Each of the above referenced properties is located on the north side of I st Street S.W. east of 58th Avenue, is zoned A-1 (Agriculture), is designated on the landscape plan as L-1 (Low Tensity . Residential up to 3 units per acre), and encompasses approximately 810,000 square feet (:k 18.6 acres) of area. Each parcel will retain its A-1 zoning until the property owner applies to rezone all or a portion of the property. used on each parcel's L-1 land use designation, planning staff would p P 8 support requests to rezone all or portions of the properties fronting 1 st Street S.W. from A-1 to ` RS -3. f 4 Under county land development regulations, the county can acquire 50of I st Street S.W. right -of- 4. way from each property without precluding each owner the option of creating 4 buildable parcels from each original X810,000 square foot parcel. Right -of -Way acquisition and parcel division can be accomplished in I of 2 ways: The county can acquire the right-of-way and the remaining :780,000 square foot tract could be divided into 4 parcels, as follows: a. A +.180,000 square foot parcel along 1 st Street S.W. could be split -off from the tract and rezoned from A-1 to RS -3. That parcel could be developed as a single family lot or further divided by subdivision plat. b. The remaining 600,000 square feet would still be zoned A-1 and could be divided through the county's "affidavit of exemption" process into three 200,000 square foot buildable parcels. Each parcel would need 60' of frontage on I st Street S.W. or Lateral B/58th Avenue. Each 810,000 square foot tract could first be divided through the county's "affidavit of exemption" process into four, 1200,000 square foot A-1 zoned parcels. Each parcel would need 60' of frontage on 1st Street S.W. or Lateral B/5 8th Avenue. Subsequent right-of-way acquisition would result in one. or more parcels having less than 204,000 square feet of area. However, such nonconforming parcels would be legal, "grandfathered -in" buildable parcels. Nonconformities created by public right-of-way acquisition are allowed to continue and are not required to be made conforming (reference nonconformities code section 904.05). I hope this information is helpful. If you or the property owners involved have any questions about these matters, please call me at extension 253. Y cc s 1; Robert M. Keating, AICP Eric Blad John McCoy, AICP u\c\s\schwartz.mem 1 .e { R; �a z 1 z " 2. The county can acquire the right-of-way and the remaining :780,000 square foot tract could be divided into 4 parcels, as follows: a. A +.180,000 square foot parcel along 1 st Street S.W. could be split -off from the tract and rezoned from A-1 to RS -3. That parcel could be developed as a single family lot or further divided by subdivision plat. b. The remaining 600,000 square feet would still be zoned A-1 and could be divided through the county's "affidavit of exemption" process into three 200,000 square foot buildable parcels. Each parcel would need 60' of frontage on I st Street S.W. or Lateral B/58th Avenue. Each 810,000 square foot tract could first be divided through the county's "affidavit of exemption" process into four, 1200,000 square foot A-1 zoned parcels. Each parcel would need 60' of frontage on 1st Street S.W. or Lateral B/5 8th Avenue. Subsequent right-of-way acquisition would result in one. or more parcels having less than 204,000 square feet of area. However, such nonconforming parcels would be legal, "grandfathered -in" buildable parcels. Nonconformities created by public right-of-way acquisition are allowed to continue and are not required to be made conforming (reference nonconformities code section 904.05). I hope this information is helpful. If you or the property owners involved have any questions about these matters, please call me at extension 253. Y cc s 1; Robert M. Keating, AICP Eric Blad John McCoy, AICP u\c\s\schwartz.mem