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THIS FORM HAS BEEN APPROVED BY THE --
FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR. ,ate ( j
Contract for Sale and Purchase Com' 7
FLORIDA ASSOCIATION OF REALTORS®
AND THE FLORIDA BAR
'1 PARTIES: Dora Jenkins (LE) and Jobnnia H. Jmnki!t$_[Ramw+nAar inters t) ("Seller"),
2 of 615 9th Avenue sw. Vero Beach Florida 32962 (Phone)
'3 and Indian River County, a political subd+vas+on of the State nP Florida ("Buyer"),
4 Of 1840 25th Street- Yarn Beach_ Florida 32960 (Phone) (561) 567-8000,
5 hereby agree that Seller shall sell and Buyer shall buy the following described real property and personal property (collectively
6 "Property") pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract"):
7 I. DESCRIPTION:
'8 (a) Legal description of the Real Property located in Indian RiVgr County, Florida:
9 See Legal Description Exhibit "A" attached hereto and made a part hereof,
10
'11 (b)Street address, city, zip, of the Property is: Oslo Road (9th Street SLP) right -of -MSV
'12 (c) Personal Property: None C L coned parcel measuring 40.0 x 328.2. containing 13,128 SF at
13 9.40 per SF NOTHi S.40 per SF represents one-half of acutal market value as per prior
14 oral agreement by the parties because of poaailbe discrepancy in TIIF Deed.
15 If. PURCHASE PRICE: ............................................................................................................................................................... $ 5.251.20
16 PAYMENT:
'17 (a) Deposit held in escrow by (Escrow
'18 Agent) In the amount of..................................................................................................................................................$ -0-
'19 (b)Additional escrow deposit to be made to Escrow Agent within days after Effective Date (see
'20 Paragraph III) in the amount of.......................................................................................................................................$ -0-
•21 (c) Subject to AND assumption of existing mortgage in good standing in favor of
22 having an approximate present principal balance of ...................$ -0-
'23 (d) New mortgage financing with a Lender (see Paragraph IV) in the amount of .................................................$ -0-
'24 (e) Purchase money mortgage and note to Seller (see rider for terms) in the amount of ..................................$ _--
'25 (1)Other: $ -0-
26 (g) Balance to close by U.S. cash or LOCALLY DRAWN cashiers or official bank check(s), subject
'27 to adjustments or prorations...............................................................................................................$ 5,251,20
28 III. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties
'29 OR FACT OF EXECUTION communicated in writing between the parties on or before MIA , the deposit(s)
30 will, at Buyer's option, be returned and this offer withdrawn. For purposes of delivery or notice of execution, parties include Buyer
31 and Seller or each of the respective brokers or attorneys. The date of Contract ("Effective Date") will be the date when the last
32 one of the Buyer and Seller has signed this offer. A facsimile copy of this Contract and any signatures hereon shall be considered
33 for all purposes as an original. NOTE: THIS CONTRACT IS SUBJECT TO INDIAN RIVER COUNTY FINAL APPROVAL.
34 IV. FINANCING:
'35 ❑ (a) This is a cash transaction with no contingencies for financing;
'36 ❑ (b) This Contract is conditioned on Buyer obtaining a written loan commitment within _ days after Effective Date for
'37 (CHECK ONLY ONE): ❑ a fixed; Elan adjustable; or Ela fixed or adjustable rate loan in the principal amount of
'38 $ , at an initial interest rate not to exceed % , discount and origination fees not to exceed %
'39 of principal amount, and for a term of years. Buyer will make application within —days (5 days if left blank) after
40 Effective Date and use reasonable diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of
41 the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or fails to waive
42 Buyer's rights under this subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the
43 terms and conditions of the commitment by the closing date, then either party thereafter, by written notice to the other, may
44 cancel this Contract and Buyer shall be refunded the deposit(s); or
'45 ❑ (c) The existing mortgage, described in Paragraph II(c) above, has: ❑ a variable interest rate; or ❑ a fixed interest rate of
'46 % perannum. At time of title transfer, some fixed interest rates are subject to increase; if increased, the rate shall not
'47 exceed % per annum. Seller shall furnish a statement from each mortgagee stating the principal balance, method of
48 payment, interest rate and status of mortgage or authorize Buyeror Closing Agent to obtain the same. If Buyer has agreed to
49 assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the
50 necessary application and diligently complete and return it to the mortgagee. Any mortgagee charge(s), not to exceed
'51 $ (1% of amount assumed if left blank), shall be paid by Buyer. If Buyer is not accepted by mortgagee or
52 the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in
53 excess of the stated amount, Seller or Buyer may rescind this Contract by written notice to the other party unless either
54 elects to pay the increase in interest rate or excess mortgage charges.
'65 V. TITLE EVIDENCE: At least --days before closing date, (CHECK ONLY ONE): ❑ Seller shall, at Seller's expense, deliver
'56 to Buyer or Buyer's attorney; or ®Buyer shall at Buyer's expense obtain (Vee) f,/"Vy)Q) Ef(: Xabstract of title; or Ntitle
57 insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's
58 policy of title insurance.
'59 VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on __Q"o1or.s_60_days ,
60 unless modified by other provisions of this Contract. fran "Effective Date" (See III)
1
a uyer (_= Mt- ) ( 4✓MA" ) and Seller (_YlJ�) ( ) acknowledge receipt of a copy of this page.
FAR/BAR-5 Rev 8188 RIDERS CAN BE OBTAINED FROM Tt:E FLORIDA ASSOCIATIGN OF REALTORS✓ OR THE Fl ORIDA BAR
This form is licensed for use with Formulator" Forms Software by ISG McAllister Publishing, Inc 13CC-336-1027
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61 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning,
62 restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the
63 plat or otherwise common to the subdivision; outstanding oil, gas and mineral rights of record without right of entry; public utility
64 easements of record (easements are to be located contiguous to real property lines and not more than 10 feet in width as to the
65 rear or front lines and 7 1/2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and
66 subsequent years; assumed mortgages and purchase money mortgages, if any (if additional items, see addendum); provided,
67 that there exists at closing no violation of the foregoing and none prevent use of the Property for road right -of -Nn
68 purpose(s).
69 VIII.000UPANCY: Seiler warrants that there are no parties in occupancy other than Seller; but if Property is intended to be rented
70 or occupied beyond closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to Standard
71 F. Seller shall deliver occupancy of property to Buyer at time of closing unless otherwise stated herein. If occupany is to be
72 delivered before closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable for
73 maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking
74 occupancy unless otherwise stated herein.
75 IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all
76 printed provisions of this Contract in conflict with them.
77 X. RIDERS: (CHECK those riders which are apppplicable AND are attached to this Contract):
•78 ❑ COMPREHENSIVE RIDER LJ HOMEOWNERS' ASSN. ❑ COASTAL CONSTRUCTION CONTROL LINE
•79 ❑ CONDOMINIUM ❑ "AS IS" ❑ INSULATION
•80 ❑ VAIFHA ❑ LEAD-BASED PAINT ❑
•81 XI. ASSIGNABILITY: (CHECK ONLY ONE): Buyer Elmay assign and thereby be released from any further liability under this
•82 Contract; ❑ may assign but not be released from liability under this Contract; or ® may not assign this Contract.
83 XII. DISCLOSURES:
84 (a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present
85 health risks to persons who are exposed to it overtime. Levels of radon that exceed federal and state guidelines have been
86 found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County
87 Public Health unit.
88 (b) Buyer acknowledges receipt of the Florida Building Energy -Efficiency Rating System Brochure.
89 (c) If the real property includes pre -1978 residential housing then a lead-based paint rider is mandatory.
90 (d) If Seller is a 'foreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with
91 that Act.
92 (e) If Buyer will be obligated to be a member of a homeowners' association, BUYER SHOULD NOT EXECUTE THIS CONTRACT
93 UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIATION DISCLOSURE.
94 XIII. MAXIMUM REPAIR COSTS: Seller shall not be responsible for payments in excess of:
95 (a) $ N/A for treatment and repair under Standard D (if blank, then 2% of the Purchase Price).
96 (b) $ N/A for repair and replacement under Standard N (if blank, then 3% of the Purchase Price).
•97 XIV. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE ❑ .
98 XV. STANDARDS FOR REAL ESTATE TRANSACTIONS: Standards A through W on the reverse side or attached are incorporated
99 as a part of this Contract.
100 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF
101 AN ATTORNEY PRIOR TO SIGNING.
102 THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR.
103 Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted
104 by the parties in a particular transaction. Terms and conditions should be negotiated based upon the
105 respective interests, objectives and bargaining positions of all interested persons.
106 COPYRIGHT 1998 BY THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORS®
1 1 /7/00 �_ E)
•107 ��1C�.t�ty—- -� -
'108 (Buyer) Fran B. Adams, Chairman (Date) (Sell r) Johnnie B. Jenkins (Date)
'109 Social Security or Tax I.D. # Bd. of Co COmmissiOn§ I- Social Security or Tax I.D.#_ --
•110
•111 (Buyer) WLlliam M. NikPier, SRPA,SRA (Date) (Seller) (Date)
'112 Social Security or Tax I.D.# Right-of-Wav Aaent _ Social Security or Tax i.D.# --
113 Deposit under Paragraph II (a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE.
114 (Escrow Agent)
115 BROKER'S FEE: The brokers named below, including listing and cooperating brokers, are the only brokers entitled to
116 compensation in connection with this Contract:
'117 Name: N/A ----
118 `C Cooperating Brokers, if any T ( Listing Broker
Buyer (r'"776✓J 1 ( �Z 1 an0 SNler ( ) ( -__) acknowledge receipt of a copy of this page.
FAR/BAR-5 Rev. 8/98 RIDERS CAN BE OBTAINED FROM THE FLORIDA ASSOCIATION OF RE ALT OR S& OR THE FLORIDA BAR
This form is hcensed for use with Formulator" Forms Software by ISG McAllister Publishing, Inc 800336-1027