HomeMy WebLinkAbout2008-107AGREEMENT TO PURCHASE AND SELL REAL ESTATE
BETWEEN
THE SANACK FAMILY LTD. PARTNERSHIP AND INDIAN RIVER CO.
THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement's is
made and entered into as of the _8 day of _ RPR I t , 200.8 by and between Indian
River County, a political subdivision of the State of Florida ("the County"), and The Banack
Family Ltd. Partnership ("Seller"), who agree as follows:
WHEREAS, The Banack Family Ltd. Partnership owns a parcel of land located at
the SW corner of 66rs Avenue and 57u'Street, Vero Beach, Florida in Indian River County,
Parcel ID 32-39-18-00001-0090-00001.0. A sketch and legal description of the property is
attached to this agreement as Exhibit "A" and incorporated by reference herein; and
WHEREAS, the County, is scheduled to expand 60" Avenue in the near future and
the road expansion will impact and affect The Banack Family Ltd. Partnership's property;
and
WHEREAS, in order for the County to proceed with its road expansion plans, the
County needs to purchase property to be used as right-of-way from landowners adjacent to
6e Avenue; and
WHEREAS, the County has contacted The Banack Family Ltd. Partnership and has
offered to purchase a total of 213,818 square feet (consisting of 3.573 acres for parcel 103
and 1.331 acres for parcel 402) of property from The Banack Family Ltd. Partnership to be
used as right-of-way and for a stormwater retention pond as depicted on Exhibit "A" (the
Property); and
WHEREAS, The Banack Family Ltd. Partnership is represented by Raymer F.
Maguire ill of the law firm of Fixel, Maguire & Willis, 1010 Executive Center Drive, Suite
121, Orlando; Florida; and
WHEREAS, the County is prepared to take the Property by using its power of
eminent domain; and
WHEREAS, The Banack. Family Ltd. Partnership and the County wish to avoid the
risk, time and expense of litigation by entering into this agreement for sale and purchase of
the Property;
i. W. v i i, i. J
NOW, THEREFORE, in consideration of the mutual terms, conditions, promises,
covenants and premises hereinafter, the COUNTY and SELLER agree as follows:
1. Recitals, The above recitals are affirmed as being true and correct and are
Incorporated herein
2. Agreement to Purchase and Sell The Seller hereby agrees to sell to the County,
and the County hereby agrees to purchase from Seller, upon the terms and conditions set
forth in this Agreement, that certain parcel of real property located at the SW corner of 661°
Avenue and 57th Street, Vero Beach, Florida in Indian River County, Parcel ID 32-39-18-
-NOG"990wG909 1.01 and more s ally described inthe sketch and lega! description
attached as Exhibit "A", consisting of 3.573 acres For parcel 103 and 1.331 acres for parcel -
402, together with all easements, rightsand uses now or hereafter belonging thereto
(collectively, the "Property").
2.1 Purchase Price, Effective Date. The purchase price (the "Purchase Price") for the
Property shall be established by an appraisal to be performed by an M.A.I. appraiserwithin
All Real Estate Appraisals who is mutually agreed upon by the parties pursuant to the
terms of the letter dated November 7, 2007 from Robert K. Babcock, M.A.I. to attorney
William K. DeBraal attached as Exhibit "B". Upon receipt of the Appraiser's Final Report,
the County shall pay and The Banack f=amily Ltd, Partnership shall accept the appraised
value of the Property as the Purchase and Sale price of the Property. The Purchase Price
shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date
upon which the County shall have approved the execution of this Agreement, either by
approval by the Indian River County Board of County Commissioners at a formal meeting
of such Board or by the County Administrator pursuant to his delegated authority.
3. Title, Seller shall convey marketable title to the Property by warranty, deed free of
claims, liens, easements and encumbrances of record or known to Seller; but subject to
property taxes for the year of Closing and covenants, restrictions and public utility
easements of record provided (a) there exists at Closing no violation of any of the
foregoing; and (b) none of the foregoing prevents County's intended use and development
of the Property ("Permitted Exceptions").
3.1 County may order an Ownership and Encumbrance Report or Title Insurance
Commitment with respect to the Property. County shall within fifteen (15) days following
the Effective Date of this Agreement deliver written notice to Seller of title defects. Title
shall be deemed acceptable to County if (a) County fails to deliver notice of defects within
the time specified, or (b) County delivers notice and Seller cures the defects within thirty
(30) days from receipt of notice from County of title defects ("Curative Period"). Seller shall
use best efforts to cure the defects within the Curative Period and if the title defects are not
cured within the Curative Period, County shall have thirty (30) days from the end of the
Curative Period to elect, by written notice to Seller, to (f) to terminate this Agreement,
whereupon shall be of no further force and effect, or (ii) extend the Curative Period for up
to an additional 90 days; or (iii) accept title subject to existing defects and proceed to
closing.
.I.I nu, VI If r. 9
4. Representations of the Seller.
4,1 Seller is indefeasibly seized of marketable, fee simple title to the Property, and is the
sole owner of and has good right, title, and authority to convey and transfer the Property
which is the subject matter of this Agreement, free and clear of all liens and
encumbrances,
4.2 From and after the Effective Date of this. Agreement, Seller shall take no action
which would impair or otherwise affect title to any portion of the Property, and shall record
prior written consent of the County,
4.3 There are no existing or pending special assessments affecting the Property, which
are or may be assessed by any governmental authority, water or sewer authority, school
district, drainage district or any other special taxing district.
Default.
5.1 In the event the County shall fail to perform any of its obligations hereunder, the
Seller shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice
delivered to the County at or prior to the Closing Date and thereupon neither the Seller nor
any other person or party shall have any claim for specific performance, damages, or
otherwise against the County; or (ii) waive the County's default and proceed to Closing.
5.2 In the event the Seller shall fail to perform any of its obligations hereunder, the
County shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice
delivered to the Seller at or prior to the Closing Date and thereupon neither the County nor
any other person or party shall have any claim for specific performance, damages or
otherwise against the Seller; or (Ii) obtain specific performance of the terms and conditions
hereof; or (iii) waive the Seller's default and proceed to Closing:
6, Clo_ sinci.
6,1 The closing of the transaction contemplated herein ("Closing" and "Closing Date")
shall take place within 45 days following the receipt of the Appraiser's Final Report. The
parties agree that the Closing shall be as follows:
(a) The Seller shall execute and deliver to the County a warranty deed conveying
marketable title to the Property, free and clear of all liens and encumbrances and in the
condition required by paragraph 3,
(b) The Seller shall have removed all of its personal property and equipment from the
Property, and Seller shall deliver possession of the Property to County vacant and in the
same or better condition that existed at the Effective Date hereof.
(c)
If
Seller is
obligated
to discharge any encumbrances
at
or prior to Closing and fails
to do
so,
County
may use a portion of Purchase Price funds
to
satisfy the
encumbrances,
(d) If the Seller is a non-resident alien or foreign entity, Seller shall deliver to the County
an affidavit, in a form acceptable to the County, certifying that the Seller and any interest
holders are not subject to tax under the Foreign Investment and Real Property Tax Act of
1980.
(e) The Seiler and the County shall each deliver to the other such other documents or
instruments as may reasonably be required to Close this transaction.
6.2 Taxes. All taxes and special assessments which are a lien upon the property on or
prior to the Closing Date (except current taxes which are not yet due and payable)
shall be paid by the Seller.
7. Closing Costs: Expenses. County shall be responsible for preparation of all Closing
documents.
7.1 County shall pay the following expenses at Closing:
7. 1.1 The cost of recording the warranty deed and any release or satisfaction obtained by
Seller pursuant to this Agreement.
7.1.2 Documentary Stamps required to be affixed to the warranty deed.
7.1.3 All costs and premiums for the owner's marketability title insurance commitment and
policy, if any.
not to exceedA E
5MB 5R.
which ever is
LB
7.1.4 Engineering costs incurred by The Banack Family Ltd. Partnership
$2,000.00. The costs shall be paid directly to the engineering firm.
7.1.5 Attorney's fees and costs of $ 4,000.00 or,3.9`Cof the purchase price
greater. 1 S �p
7.1.6 Appraisal fees negotiated with All Real Estate Appraisals.
7.2 Seller shall pay the following expenses at or prior to Closing:
7.2.1 All costs necessary to cure title defect(s) or encumbrances, other than the
Permitted Exceptions, and to satisfy or release of record all existing mortgages, liens or
encumbrances upon the Property.
r. v x "I 11U. V l I I I. V
Miscellaneous,
8.1 Controlling Law. This Agreement shall be construed and enforced in accordance
with the laws of the State of Florida. Venue shall be in Indian River County for all state
court matters, and in the Southern District of Florida for all federal court matters.
8.2 Condemnation. In the event that all or any part of the Property shall be acquired or
condemned for any public or quasi -public use or purpose, or if any acquisition or
condemnation proceedings shall be threatened or begun prior to the Closing of this
transaction, County shall have the option to either terminate this Agreement, and the
ebligatiens eF all "ereundep shall ceaseo v, to proceed, subject to alluthertarms-,
covenants, conditions, representations and warranties of this Agreement, to the Closing of
the transaction contemplated hereby and receive title to the Property; receiving, however,
any and all damages, awards or other compensation arising from or attributable to such
acquisition or condemnation proceedings. County shall have the right to participate in any
such proceedings..
8.3 Entire Agreement. This Agreement constitutes the entire agreement between the
parties with respect to this transaction and supersedes all prior agreements, written or
oral, between the Seller and the County relating to the subject matter hereof. Any
modification or amendment to this Agreement shall be effective only if in writing and
executed by each of the parties.
8.4 Assignment and Binding Effect. Neither County nor Seller may assign its rights and
obligations under this Agreement without the prior written consent of the other party, The
terms hereof shall be binding upon and shall inure to the benefit of the parties hereto and
their successors and assigns.
8.5 blotices, Any notice shall be deemed duly served if personally served or if mailed by
certified mail, return receipt requested, or if sent via "overnight" courier service or facsimile
transmission, as follows:
If to Seller: The Banack Family Ltd, Partnership
6125 Atlantic Blvd.
Vero Beach, FL, 32966
If to Seller's Attorney: Fixel, Maguire & Willis
1010 Executive Center Dr.
Suite 121
Orlando, FL, 32803
.._. ... .%.. , VV .�.. W. VIII [. 1
If to County: Indian River County
1840 26" Street
Vero Beach, FL, 32960
Attn: Land Acquisition/Pamela Stewart
Either party may change the information above by giving written notice of such change as
provided in this paragraph.
8.6 Survival and Benefit. Except as otherwise expressly provided herein, each
agreement, representation or warranty made in this Agreement by or on behalf of either
party, or in any instruments delivered pursuant hereto or in connection herewith, shall
survive the Closing Date and the consummation of the transaction provided for herein.
The covenants, agreements and undertakings of each of the parties hereto are made
solely for the benefit of, and may be relied on only by the other party hereto, its successors
and assigns, and are not made for the benefit of, nor may they be relied upon, by any other
person whatsoever.
8.7 Attorney's Fees and Costs. In any claim or controversy arising out of or relating to
this Agreement, each party shall bear its own attorney's fees, costs, and expenses.
8.8. Counterparts. This Agreement maybe executed in two or more counterparts, each
one of which shall constitute an original.
8.9. County Approval Required: This Agreement is subject to approval by the Indian
River County as set forth in paragraph 2.
8.10 Beneficial Interest Disclosure: In the event Seller is a partnership, limited
partnership,corporation, trust, or any form of representative capacity whatsoever for
others, Seller shall provide a fully completed, executed, and sworn beneficial interest
disclosure statement in the form attached to this Agreement as an exhibit that complies
with all of the provisions of Florida Statutes Section 286.23 prior to approval of this
Agreement by the County, However, pursuant to Florida Statutes Section 286.23 (3) (a),
the beneficial interest in any entity registered with the Federal Securities and Exchange
Commission, or registered pursuant to Chapter 517, Florida Statutes, whose interest is for
sale to the general public, is exempt from disclosure; and where the Seller is a non-public
entity, that Seller is not required to disclose persons or entities holding less than five (50/0)
percent of the beneficial interest in Seller.
P,V. V t I l
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
date first set forth above.
By:
Sidney M. B ac , Jr.
Date Signed: *jh/j_/
BOARD OF
Syna L, lei.. < , Chairman
Date Signed
Attest: J. K. Barton, Cleaic ,• „ .. ' ,
By
Deputy Clerk
Approv d as to orm le a sufficiency;
William K. DeBraa
Deputy County Attorney
SKETCH TO ACCOMPANY DESCRIPTION,
THIS IS NOT A SURVEYI
LOCATION MAPL NOT TD SCALE
19
13
QWNER
BANACK FAMILY
LIMITED PARTNERSHIP
LEGA. DESCRIPTION: PARCEL 103
A PARCEL OF LAND BEING THE EAST 126.00 FEET LESS THE SOUTH 100.00 FEET OF TRACT 9, INDIAN
RIVER'FARMS CO. PIAT OF LANDS, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 2, PAGE
25, PUBLIC RECORDS, SAINT LUCIE COUNTY, FLORIDA.
TOGETHER WITH:
BEGIN AT A POINT OF INTERSECTION OF THE NORTH LINE OF SAID. TRACT 9 AND, THE WEST LINE OF THE
EAST DISTANCE6.00 FEET OF OF 39 47 FEET; THENAID CE NORCT TH 44!24'27**UTH WEST, A10 SIAME Of ALONG
FSAIEcTD WEST LINE,
A
89'01'19' EAST, ALONG SAID NORTH UNE, A DISTANCE OF 39.47 FEET TO THE POINT OF BEGINNING,
ALL SAID LANDS LYING WITHIN SECTION tB, TOWNSHIP 32 SOUTH, RANGE 39 EAST, 1001AN RIVER COUNTY,
FLORIDA.
CONTAINING 3.573 ACRES, MORE OR LESS
SAID PARCEL OF LAND LYING WITHIN THOSE LANDS AS DESCRIBED IN OFFICIAL RECORDS BOOK 1665, PAGE
1114, TOGETHER WITH OFFICIAL RECORDS BOOK 1665, PAGE 1185, PUBLIC RECORDS,, INDIAN RIVER
COUNTY, FLORIDA.
CERTIFICATION:
I HEREBY CERTIFY THAT THE DESCRUMON AND ATTACHED SKETCH OF DESCRIPTION WERE PREPARED IN ACCORDANCE
WITH THE SURVEYING STANDARDS4 CHAPT. FLORIDA AnmimmwrvE As
BOARD OF PROFESSIONAL SURVEYORS A:ER 6TO�17, PURSUANT TO SECTION 472027�FIORIDT FORjHE�ANO FLORIDA TADS
AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF, LWLESS IT BEARS'THE SIGNATURE AND THE ORICNAL
RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND MAppER, THIS LEGAL OESCRIPOON AND SKETCH H FOR
INFORMATIONAL PURPOSES ONLY AND IS NOT VAUD.
NOTE: THIS IS.NOT A SKETCH OF SURVEY, BUT ONLY A
GRAPHIC DEPICTIOH.OF,THE DESCRIPTION SHOWN HEREON,
THERE HAS BEEN.NO'FIELD WORK, VIEWING OF THE
RY WHITE SURIECT PROPERTY. OR MONUMENTS SET IN CONNECTION
PRO *MAL L+W0 SURVEYOR AND MAPPER WITH PREPARATION OF. THE INFORMATION SHOWN
LK SE NO, 4213, STATE OF FLORIDA HEREON:. NOTE:. LANDS HEREON WERE NOT
DATE: 1/4/06 ABSTRAMOEMENTS FOR.*RbN T10NS. RIGTITS-OF-WAY AND
OARCADIS 4yx �PON�
ARCADIS U.S„ Ina MOR�ONAL R/W cr ii
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THIS IS NOT A SURVEY!
LEGEND: I
SEE SHEET 3 OF 4 I
TRACT B, IRFC
P.B. 2, PG. 25
I
511 R PER SATE OF FLORIDA
STATE ROAD DFP ENT RIGHT—OF—WAY MAP4
SECTION ND, 68530, ROAD NO, 505 j
COUNTY ROAD 615, 6611h AVENUE I
60' SUB -LATERAL "A-10' CANAL
NDIAN RNERFARMS CO. PLAT OF LANDS)
ANDS J
P.B. 28
PG, 25, S.L.C.R. /
~ � � NORTH LINE OF
502+00 503+00 /TRACT 9, IRFC
ZT571h STREET 39.47' $
I --„2• _
56,19 _
.I SIA: 336+37.60
OFFSET: 122,46 L 126.DD!
t AODMONAL R/W
$ STA 337+97,61
u I OFFSET: 63.00 L
i
I 30,001 ROAD R/W
IA PORNON AS DETERMINED BY
IOF TRACT 9, INDIAN RIVER COUNTY —,
IIRFC D.D. 48,. PG, 23
IRE 2,. PG. 25
157TH STREET & 66th AVENUE i
IVERO BEACH, FL• 32967
I PID -32J O 180000100900000 T,o
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MATCH UNE "A' - SEE SHEET 2 OF 4
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6 VERO BEACH, FL, 32967
PID -32391800001008000001.0 I a
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-� SO' OPT PER STA�m anal � " � •�
STATE ROAD DEPARTMENT RIGHT-OF-WAY MAP I
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ICOUNIY ROAD 615, 66th AVENUE c g�
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6 I VERO BEACH, FL, 32967 ,w
PID-323918000010090DOOD1.0 m
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STA: 326+07,64 NW2
OFFSET: 83.00 E 121
.. 100' CANAL. R/W
NORTH REUEF CANAL,
SU: 326+06,95
TRACT 16, IRFC OFFSET: 43.00 R
P.B. 2, PG•, 25
LEGEND:
SEE SHEET 3 OF 4
ARCADIS rADDITION4
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SKETCH TO ACCOMPANY DESCRIPTION.
THIS IS NOT A SURVEY!
LOCATION MAP, NOT TO SCALE
17
24
On,
BANACK FAMILY
LIMITED PARTNERSHIP
'LEGA. OESORInON; PARCEL 402
THAT PORTION OF LAND BEING THE WEST 201,54 FEET OF THE EAST 327,54 FEET OF THE NORTH
287.26 FEET OF THE SOUTH 387.28 OF TRACT 9, INDIAN RIVER FARMS CO. PLAT OF LANDS,
ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 2, PAGE 25, PUBLIC RECORDS, ST,
LUCIE COUNTY, FLORIDA ALL SAID LANDS LYING WITHIN SECTION T8, TOWNSHIP 32 SOUTH, RANGE 39
EAST, INDIAN RIVER COUNTY, FLORIDA,
CONTAINING 1,331 ACRES, MORE OR LESS
SAID PARCEL OF LAND LYING WRHIN THOSE LANDS AS DESCRIBED IN OFFICIAL RECORDS BOOK 1655,
PAGE 1114 AND OFFICIAL RECORDS BOOK 1665, PAGE 1185, PUBLIC RECORDS, INDIAN RIVER COUNTY,
FLORIDA.
ALL SAID LANDS LYING WITHIN SECTION 18, TOWNSHIP 32 SOUTH, RANGE 39 EAST, INDIAN RIVER
COUNTY, FLORIDA,
CERTIFIGATTOM
I HEREBY CERTIFY THAT THE DESCRIPTION AND ATTACHED SKETCH OF DESCRIPTION WERE PREPARED IN ACCORDANCE
WITH THE SURVEYING STANDARDS, CHAPTER B1G17-8, FLORIDA ADMINISTRATIVE CODE, AS SET FORTH BY THE FLORIDA
BOARD OF PROFESSIONAL SURVEYORS k MAPPERS, PURSUANT TO SECTION 472.027, FLORIDA STATUTES, AND 6 TRUE
AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF. UNLESS R SEARS THE SIGNATURE AND THE ORIGINAL
RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND MAPPER, THIS LEGAL DESCRIPTION AND SKETCH IS FOR
INFORMATIO RPOSES ONLY AND 15 NDT VAUD, NOTE: THIS IS NOT A SKETCH OF SURVEY, BUT ONLY A
GRAPHIC DEPICTION OF THE OESCRIPTION SHOWN HEREON,
THERE HAS BEEN NO FIELD WORK, VIEWING OF THE
WHITE
R C, WF11iE SUBJECT PROPERTY, OR MONUMENTS SET IN CONNECTION
PROFES LANG SURVEYOR AND MAPPER WITH THE PREPARATION OF THE INFORMATION SHOWN
LICENSE N0. 4213, STATE OF FLORIDA HEREON, NOTE: LANDS SHOWN HEREON WERE NOT
ABSTRACTED FOR RESTRICTIONS, RIGHTS-OF-WAY AND
DATE 4/4/06 EASEMENTS OF RECORD.
ARCADIS � P"
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SKETCH TO ACCOMPANY DESCRIPTION,
THIS IS NOT A SURVEY!
LEGEND:
Q — BASEUNE
D.B. —
DEED BOOK
O.R,B.
— OFFICIAL RECORD BOOK
P.B. —
RAT BOOK
PG. —
PAGE
PID -
PARCEL 0
R/W -
RIGHT—OF—WAY
STA —
STATION
I
t
126.00'-4 is
ADDITIONAL R/W I W N
A PORTION OF TRACT 9, IRFC sm `
RB, 2, PG, 25 11T
57TH STREET & 66th AVENUE 03
VERO MACH, FL, 32967
PID -325918000D10090000D 1.0
O,R,B, 1665, PG. 1114
O.R.B, 16651 PG. 1185 77t
N
PARCEL 402 0
CONTAINING 1,3311 ACRES e
STA: 326+07.64
OFFSET: 83.00 L 126.0E
STA, 316+40.01 N59'28'48V 201.54'
r OFFSET: 347.54 L INDIAN RIVER FARMS WATER CONTROL 01SIRIC T
NORTH RELIEF CANAL - 100' RIGHT-OF-WAY
S O.B. 19, PG, 482
SOUTH LINE
/OF TRACT 9
INDIAN RIVER _FARMS
WATER CONTROL DISTRICT r
NORTH RELIEF CANAL - 100' RIGHT-OF-WAY
0 0.8, 19, PG. 454
TRACT 16, IRFC T Y
ARCADIS
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WM1053 11053SO402
•
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November 7, 2007
Indian River County
184025th Street
Vero Beach, FL 32960-3328
Attn.: Mr. William K. DeBraal, Esquire
RE: Fee proposal for The Banack Family Ltd. Partnership Appraisal, 57'" Street, Vero Beach, FL
32967—Parcels 103 and 402 of the 66" Avenue Improvement Project.
Dear AttorneyDeBraal:
All Real Estate Appraisals Is pleased to offer a fee proposal to provide appraisal services relating to the
above referenced property. Based upon discussions with Raymer F. Maguire, III, Esquire, the anticipated
compensation is to be predicated upon appraisal evidence supporting:
1. The market value of the land acquired for the roadway improvement.
2. The property's highest and best use has been stipulated as being suited for two 5t acre
ranchette style residential developments.
3. Any severance damages resulting from the anticipated changes in property size and
depth of the remainder, along with potential damages relating to proximity of a
prospective single family residence to the proposed and future roadway improvements
will be recognized without the use of an extensive market study.
a. The remainder tract would not need a variance because Indian River County has already
agreed with the owner of the remainder parcel that the remainder parcel would be an
approved, non -conforming use for one residential unit.
This firm would provide evidence to support these items of compensation within the proposed appraisal
report. To quantify potential severance damages, the appraisal will value the property 'before" and "after"
the proposed right of way acquisition. A summary appraisal format will be used to present the valuation
analyses. The fee for providing this service would be $4,800.
We understand
that time is of
the essence in
this situation and would
provide delivery of
the completed
appraisal within
approximately
six weeks from
the date of authorization.
Appraisers • Consultants ♦ Realtors®
1010 Executive Center Drive, Suite 132
Orlando, Florida 32803
Phone: 407.895.9999 Fax: 407.895.9998 EXHIBIT
9
Mr. William K OeBraal, Esquire
November 7, 2007
If you have any questions, please contact me at your convenience.
Sincerely,
ALL REAL ESTATE APPRAISALS
f�
Robert K. Babcock, MAI
State -Certified General Appraiser RZ 990
Cc: Raymer F. Maguire, III, Esquire
Page 2