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Home My WebLink About1999-01340 • TTS FOM HAS SIMN APPROVED 6Y THE FLOR10A PARTIES: LOiVEI,L H. WELLS, an mirrarried adult__ - w_ 2626 2Qth Avenue. Vero Beach, Florida 32960_ __ and INDIAN RIVER COUNTY, a Political Subdivision of the State of Florida (•S,�) of.. 1840 25th Street, Vero Beach, Florida 32960 _ (Phone)_. hereby agree that Seller shall sell and Buyer shall buy the following described Real Properly and Personal Property (collectively "Prooe.tV) upon the following terms and conditions, which Include Standards for Real Estate Transactions ('Alanda[d(e)") on the reverse side hereof or attached h 1 d id d rid rid i e he o an r are an a e a to th s Cori ler Sale and Purchase (Sdwira DESCRIPTION: (a) Legal description of the Real Property located in Indian River County, Florida: Lot 8, Block 5, BOOKER T. WASHINGTON ADDITION TO THE CITY OF VERO BEACH_, according to the plat thereof recorded in Plat Book 2, Page 34, Public Records of St. Lucie County, Florida. (b) Street address, cN zip, of the Property Is: 2626 20th Avenue, Vero Beach Florida 32960 (c) Personal Property: None --------- -- ft. PURCHASE PRICE: ......................................................................................................................................................................................................... $ 18,500.00 PAYMENT: (a) Deposit held in escrow by in the amount of ...... $ 0 (b) Additional escrow deposit to be made within _ days after Effective Date (as defined in Paragraph III) in the amount of ................................ $ __-- 0 (c) Subject to AND assumption of existing mortgage in good standing in favor of having an approximate present principal balance of ................................. S 0 (d) Purchase money mortgage and note to Seller (see addendum) in the amount of.................................................................................................... $ _ 0 _ (e) Omer: $ 0 (Q Balance to Gose by U.S. cash, LOCALLY DRAWN certified or cashiers check or third -party loan, subject to adjustments or prorations ............... $ 18,500.00 111. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: II this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before , the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. FINANCING: N/A (a) If the Purchase Price or any part of it is to be financed by a third -party loan, this Contract is conditioned on Buyer obtaining a written commitment within __ days after Effective Date for (CHECK ONLY ONE): U a fixed; U an adjustable; or U a fixed or adjustable rate loan in the principal amount of S , at an initial interest rate not to exceed _ %, discount and origination fees not to exceed _ %of principal amount, and for a term of -- — years. Buyer will make application within _ days after Effective Date and use reasonable diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of the commitment and dose the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or fails to waive Buyers rights under this subparagraph within the time for obtaining a commitment or, after diligent effort, tails al meet the terms and conditions of the commitment, then either parry thereafter, by written notice to the other, may cancel this Contract and Buyer shall be refunded the deposifails to or (b) The existing mortgage described in Paragraph 11(c), above, has (CHECK ONLY ONE): O a variable interest rate: or U a fixed interest rate of q% per annum. At time of title transfer, some fixed interest rales are subject to increase; if increased, the rate shall not exceed % per annum. Seller shall, within — days atter Effective Date, furnish a statement from each mortgagee stating the principal balance, method of payment, interest rate and status d mortgage. If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the necessary application and diligently complete and return it to the mortgagee. Any mortgagee charge(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 of this Contract or mortgagee makes a charge in excess of the stated amount, Seller or Buyer may rescind this Contract by written notice to the other party unless either elects to pay the increase in interest rete or excess mortgage charges. V. TITLE EVIDENCE: At least 5 days before closing date, but no earlier than days after Seller receives written notification that Buyer has obtained the loan commitment or has been approved for the loan assumption as provided in Paragraphs IV(a) or (b), above, or, if applicable, waived the financing requirements, (CHECK ONLY ONE): J Seller shall, at Sellers expense, deliver to Buyer or Buyer's attorney; or XJ Buyer shall at Buyers expense obtain (CHECK ONLY ONE): 'J abstract of title; or 3 title insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, atter closing, an owners policy of title insurance. VI. CLOSING DATE: This transaction shall be dosed and the deed and other closing papers delivered onC��Wes igoo r, provisions of this Contract. VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use`p'jan's', zoning, restdc8onss..prohibr ons 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 contiguous to Real Property lines and not more than 10 feet in width as to the rear or front lines and 7 1/2 feet in width as to the side lines, unless otherwise staled herein): taxes for year of closing and subsequent years; assumed mortgages and purchase money mortgages, if any (if additional items, see addendum); provided, that there exists at closing no violation of the foregoing and none prevent use of the Property for i t S current llS e _ purpose(s). Vlll. OCCUPANCY: Seller warrants that there are no parties in occupancy ether than Seller: but if Property is intended to be rented or occupied beyond closing, the fact and terms thereof and the tanani(s) or occupants shall be disclosed pursuant to Standard F. Seiler shall deliver occupancy of Property to Buyer at time of closing unless otherwise stated herein. It occupancy is to be delivered before closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy unless otherwise staled herein. IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them. X. RIDERS: (CHECK those riders which are applicable AND are attached to this Contract): (a) U COASTAL CONSTRUCTION CONTROL LINE (d) U VA/FHA (g) J HOMEOWNERS' ASSOCIATION DISCLOSURE (b) U CONDOMINIUM (e) U INSULATION (h) J RESIDENTIAL LEAD-BASED HAZARD DISCLOSURE (c) U FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (f) X1 "AS IS- (1) XI. ASSIGNABILITY: (CHECK ONLY ONE): Buyer J may assign and thereby be released from any further liability under this Contract; U may assign but not be released from liability under this Contract; or U may not assign this Contract. XII. DISCLOSURES: (a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to persons who are exposed to it overtime, Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County Public Health unit. (b) Buyer may have determined the energy efficiency rating of the residential building, it any is located on the Real Property. (c) If the Real Property includes pre -1978 residential housing then Paragraph X (h) is mandatory. XIII. MAXIMUM REPAIR COSTS: Seller shall not be responsible for payments in excess of: (a) S N/A -AS IS for treatment and repair under Standard D (if blank, then 2% of the Purchase Price). (b) $ N/A - AS IS for repair and replacement under Standard N (if blank, then 3% of the Purchase Price). XIV. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE& THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEKTHE ADVICE OF AN ATTORNEY PRIOR TO SIGNING., THIS FORM HAS BEEN APPROVED BY TI DA ASSOCIATION OF REALTORS AND THE FLORIDA BAR. Approval does not conselule rhn opinion that any of the terms and d f nn= �•^-r Sh-- td be - „ t „ „y -- path- w a particular transaction. terms and conditions should 'be negotiated based upon the respective interests, objectives and bargaining positrons of all interested persons. INDIA TVER CO RIGHT 1995 BY THE FLORIDA BAR AND THE FLO D SOCIATION OF REALTORS (Buye . �N. MAGf CHAIR AN Date � .— Isaller) we e S (Date) Social Seca iri(y or Tax I.D. q _ Social Security or Tax I.D. » 228-20-6%55 (Buyer) (Date) (Seller) -._---. - -. - (Dale) Social Security or Tax ID. 'k _ Social Security or Tax I.D. tl Ueposa under Paragraph 11 (a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE. - -__ _ _. (Escrow Agent) BROKER'S FEE: The brokers narned below, including listing and cooperating brokers, are the only brokers entitled to compensation in connection with this Contract Name N/A N/A Listing Broker - - - -- - -- - - - - - - Coopertinq Broker .. if any . -4 r., 1' ( m r...,t.. f.J.,...-..._.,.., . _i ..�,. 1... .., ;..,u ,mow - — -- ADDENDUM THIS ADDENDUM is to the Contract between LOWELL H. WELLS, the • Seller herein, to INDIAN RIVER COUNTY, a Political Subdivision of the State of Florida, Buyer herein, for the sale and purchase of property described in said Contract. 1. This Addendum to Contract for Sale and Purchase shall become part of said Contract and amends and supersedes any and all previous contracts or other written aareements between the part -Ana to the extent that such specific provisions are set forth herein. 2. In regard to the Standards for Real Estate Transactions on the reverse side of the Contract for Sale and Purchase, the parties acknowledge, stipulate, contract and agree that Buyer shall pay the sum of $18,500.00 net to Seller, and that Paragraphs K and L shall not apply and Buyer shall pay all fees, costs and expenses incurred in the closing of this transaction, and the recording of all documents, including but not limited to: recording of the deed, documentary stamps, title insurance, if desired, and any unpaid ad valorem taxes. However, Buyer shall not be responsible for Seller's attorney's fees. 3. Paragraphs D and N on the reverse side of the Contract are modified or deleted as hereinafter set forth. Buyer has inspected the entire premises prior to the execution of this Contract and Addendum, acknowledges the condition of the property, and does accept the property and all structures included in this transaction in their existing and "as is" condition on the effective date hereof, and without any representation as to condition or warranty from Seller. 4. The closing of this transaction is contingent upon confirmation of fee simple title absolute vested in Seller. BUYER: SELLER: INDIAN RIVER COUNTY By: I . JNE.TH H. MACHT :'CHAIRMAN Date: �v 0j 2��b l �✓ j��1�� Lowell H. Wells Date: l✓�j�fy/��