HomeMy WebLinkAbout2001-002C>
4R
wnMrNto+�til
rR"ARY K. SAA'fell
ftaRtt CIRCUIT eauj*
Prepared by sw*netw7H*: 4111"M MM M UL
Ralph L. Evans, 6sgoire ��L"
Stewart & Evarta, PA. G"�XL%
3333 ceean. Drive�}
Vero Boaeh, FL 32993 I er
Et/ courthouse Box 480 WM
JWNWILM"MouWa co
0
LA)
GM
<, r
The undersigned QUAIL VALLEY CLUB, LLC., 2801 Ocean Drive, Suits 201 B,
Vero Beach, Florida, hereinafter referred to as "Optionor" hereby acknowledges
receipt of the sum of $10.00 and other good and valuable consideration, from the
�
County of Indian River, Florida, 1840 25'h Street, Vero Beach, hereinafter referred to
as "Optionee".
In consideration therefor, and the mutual covenants hereinafter expressed,
C)
the Optionor hereby grants to the Optionee the exclusive option to purchase, for the
price and on the terms and conditions hereinafter set forth, the following described
w
- ,
real property located in Indian River County, Florida, to wit:
w
!:.
Cll
an
C�
U
SEE EXHIBIT "A" ATTACHE]
The 'purchase price for the property shall be its fair market value. Fair market
value shall be determined by the average of the values rendered by two separate
MAI appraisals, one obtained by the Optionor, and the other obtained by the
Optionee. The use of the property for which the fair market value shall be
determined shall be "agriculture", for citrus production or citrus -like production.
The Optionor agrees that fair market value shall not include a consideration for
severance damages or business damages as those terms are used in eminent
domain proceedings. Further, Optionor agrees that Optionor shall not be
compensated for the loss of, the relocation of, and/or the destruction of any
improvements existing on the property at the time the option is exercised.
=
The term of the option shall be 25 years. However, the Optionee shall have
W
the right to extend the option for an additional 15 years. The option shall be+
exercised by Optionee delivering to Optionor written notice of such exercise on or
before the expiration date of the option or the extended option, as the case may be.
To extend the option, the Optionee shall deliver to the Optionor written notice of
Optionee's election to extend no later than the last day of the initial option.
co
t!
40
40
40
Anything herein to the contrary notwithstanding, Optionee agrees that
Optionor has not waived its right to make application to the Optionee for amendment
to the Comprehensive Land Use Plan to delete the future extension of this road right -
of --way from the Thoroughfare Plan; and further, the Optionee agrees that in the
event of any such application being made by the Optionor, the existence of this
agreement shall not be used against it in arguing for the retention of an extension of
this road right-of-way.
Optionee agrees, and accepts this option with the understanding that it shall
be exercised only for the purpose of acquiring the property for the construction of
road right-of-way.
Optionor shall convey to Optionee good and marketable title to the property
herein described. Conveyance of title and transfer of possession to Optionee shall
be executed within not less than 180 days after exercise of the option. During such
period, title may be examined by Optionee by any method selected. Evidence of
good title conveyed may be by a standard form title insurance policy issued by a
qualified title insurer, the cost of which shall be borne by the Optionee. Optionor
agrees to deliver the property in such condition that the vertical and horizontal
profile of the proposed right-of-way shalt be compatible with the Florida Department
of Transportation : anual g Uniform StaDdards for the Design Const #ion anti
]ufaintenance of Streets and Hi w s (DOT Green Book), as amended, and without
the presence of wetlands or other environmentally sensitive lands within the
alignment area.
Optionee agrees that Optionee's rights ;are wholly conditioned upon the
following:
Optionee having acquired sufficient right-of-way for what is now known
as 61°' Street from 68'x' Avenue to the eastern boundary of the herein
described property; AND
2. Optionee having acquired sufficient right-of-way for what would be the
extension of what is now known as 61" Street right-of-way from the
western boundary of the herein described property to what is now
known as 82"d Avenue; AAM
3. In all events, the option shall be exercised on or before the last day of
the option or extended option, as the case may be; and failing such
exercise, this option shall lapse, be void, and the Optionor shall be
released from any further obligation hereunder.
c�
CO
ry
aMON Ta PURM WE REAL asorrxar-®tre