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Res 82-05 ("" /", RESOLUTION NO. 82-05 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AUTHORIZING THE CITY TO TRANSFER/SELL REAL PROPERTY IN THE CITY OF DELRAY BEACH WHICH PROPERTY IS LOCATED AT 802 S.W. 3RD STREET, AS MORE PARTICULARLY DESCRIBED HEREIN, TO LOUIS SAINT FORT AND JOSETTE SAINT FORT, IDS WIFE, TO BE UTILIZED AS HOUSING AS PART OF THE CARVER SQUARE RELOCATION PROJECT. WHEREAS, the City of Delray Beach, Florida, desires to transfer/sell property located at 802 S.W. 3rd Street, for the purpose of providing housing as part of the Carver Square Relocation Project; and WHEREAS, the City acquired the property from the County as the result of unpaid property taxes; and WHEREAS, the City Commission has determined that it is in the best interest of the City ofDelray Beach, Florida, to transfer/sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents of the Delray Beach. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AS FOLLOWS: Section I. That the City Commission of the City of Delray Beach, Florida, as Seller, hereby agrees to transfer/sell the West 79 feet of the East 104 feet of the North Yz of the North Y. of the Southeast Y. of the Southeast Y. of the Southwest Y. of Section 17, Township 46 South, Range 43 East, Delray Beach, Florida, less the N.25' thereof, to Louis Saint Fort and Josette Saint Fort, his wife. Section 2. That the terms and conditions contained in the Contract for Sale and Purchase and addenda thereto between the City of Delray Beach, Florida, and the Buyer as hereinabove named are incorporated herein. ("' /", PASSED AND ADOPTED in regular session on the \~ day of ~~, 2005. ATTEST: ~RZ4- ~~.~ City Clerk ~\&r. '. ~ ) 2 RES. NO. 82-05 " CONTRACT FOR SALE AND PURCHASE PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, 100 N.W. 1" Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), ("Seller"), and the JEAN LOUIS SAINT FORT and JOSETTE SAINT FORT, his wife, ("Buyer"), 702 S. W. 2nd Terrace, Delray Beach, FL 33444 (Phone: 561-272-4558), hereby agree that the Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Propertv") upon the following terms and conditions, which INCLUDE the Standards for Real Estate Transactions ("Standard(sl") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("Contract"). I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: The West 79 feet of the East 104 feet of the North ~ of the North ~ of the Southeast l( of the Southeast l( of the Southwest l( of Section 17, Township 46 South, Range 43 East, Delray Beach, Florida. Less the N. 25' thereof. Property Control No. 12-43-46-17-43-000-0010 (b) Street address, city, zip, of the Property is: 802 S.W. 3~ Street, Delray Beach, Florida 33444 II. PURCHASE PRICE PAYMENT : $40,000.00 (a) Deposit(s) to be held in escrow by Robert W. Federspiel, P.A. Trust Account in the amount of $ 5,000.00 (b) Balance to close shall be paid in the form of U.S. cash or a LOCALLY DRAWN certified or cashier's check, subject to adjustments or prorations $35,000.00 III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before December 1, 2005, 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 the Selle", has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. TITLE EVIDENCE: Within thirty (30) days from the Effective Date of this Contract, (CHECK ONLY ONE): Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney; OR X Buyer shall at Buyer's expense obtain (CHECK ONLY ONE) : abstract of title or X title insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's policy of title insurance. V. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered within one hundred twenty (120) calendar days following the execution of this Contract, unless modified by other provisions of Contract. VI. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: 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 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 stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money 1 mortgages, if any (if additional items, see addendum); provided that there exists at closing no violation of the foregoing. VII. OCCUPANCY: Seller warrants there are no parties in occupancy other than Seller; Seller shall deliver occupancy of Property to Buyer at time of closing subject to Paragraph XI E. VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: provisions, riders and addenda shall control all Contract in conflict with them. IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) ___may assign and thereby be released from any further liability under this Contract; may assign but not be released from liability under this Contract; or ~ may not assign this Contract. Typewritten or handwritten printed provisions of this X. 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 over time. 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, if any is located on the Real Property. XI. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE ~. XII VOIDABILITY: Buyer and Seller agree that this Contract is contingent upon the Seller's ability to successfully quiet title to the property described in Paragraph I. In the event that title is not successfully quieted, the contract shall be void and there shall be no liability on either the Buyer or Seller for failure to continue to perform under the terms of this Contract. By: Date CITY OF DELRAY BEACH Print Name: Tax ID No. Social Security @)? V ~S7 or Tax ID No. -C1 -, JOSETTE SAINT FORT By: ~/<>s Da e Print Name::T;;Se.-ff-c:. So-J~r 'fb,.f-- Social Security or Tax ID No. :572'LJ---J"/Zr;. Deposit(s) under Paragraph II(a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE: ROBERT W. FEDERSPIEL, P.A. (Escrow Agent) By: 2 '. ADDENDUM TO CONTRACT FOR SALE AND PURCHASE SELLER: CITY OF DELRAY BEACH, a Florida municipal corporation BUYER: JEAN LOUIS SAINT FORT and JOSETTE SAINT FORT, his wife PROPERTY ADDRESS: 802 S.W. 3rd Street, Delray Beach, Florida XI. SPECIAL CLAUSES; ADDENDA (Continued): A. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (nFIRPTAn): The parties shall comply with the provisions of Internal Revenue Code Section 1445 and applicable Treasury Regulations issued thereunder. If the Seller is a U.S. person for Internal Revenue Code Section 1445 purposes, then on demand of the Buyer and prior to closing the Seller shall provide the Buyer with a certificate of non- foreign status in the manner provided in Treasury Regulations Section 1.1445-2. If the Seller provides the Buyer with such certificate, and if the Buyer is otherwise permitted to rely on such certificate under those Regulations, the Buyer shall not withhold under Internal Revenue Code Section 1445. If the Seller is a 'foreign person' as defined by the Internal Revenue Code, the Buyer generally is required to withhold 10% of the gross sales price from the Seller at closing and to pay the withheld amount over to the Internal Revenue Service (IRS) unless an applicable exemption from withholding or a limitation on the amount to be withheld is available. To the extent that the cash to be paid over to the Seller at closing is insufficient to cover the Buyer's withholding obligation, the Seller shall provide to the Buyer at closing cash equal to such excess for purposes of making such withholding payment. If the Seller's federal income tax on the gain is less than the applicable withholding amount, the Seller may make advance application to the IRS for reduced withholding and, if granted, the Buyer shall withhold only the authorized reduced amount. If such ruling has not been received by closing, the parties at closing shall enter into an escrow agreement reasonably satisfactory to the Buyer and Seller pending receipt of the ruling, provided that at closing the Seller shall have the obligation to provide to the escrow agent from the closing proceeds (or from the Seller's other resources if necessary) cash equal to the maximum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires the Buyer and the Seller to have a U.S. federal taxpayer identification number and to supply that number on the foregoing forms. A foreign individual may acquire an International Taxpayer Identification Number for this purpose. Since it may take several weeks to receive the number after application and the IRS will not process these forms without the actual number, a party lacking a TIN is advised to apply immediately. B. The Buyer shall have sixty (60) calendar days within which to conduct any and all feasibility studies and determinations relative to the suitability for the acquisition of the subject property by the Buyer and the Buyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in Buyer's sole discretion, whereupon Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to the premises to conduct such feasibility studies and determinations, including environmental assays, core drilling, surveys, soil sampling and other such testing. O. This Contract is expressly contingent and conditioned upon the approval of the same by the City Commission of the City of Delray Beach. '. D. The parties represent and warrant that there is no broker involved in this transaction to whom a commission would be du~~~~xxkM """i<1<1<~~~~H itKX~X>pa<IX>ElOlti:t"IjXl<b<o<~lHlI:~~lIll xfoo<kkk~x~~KKm~~~~~lC!lfx:>6x_JasxUlxriHot XiJlXxblbaIDD<Il<DBO<lx~Xllfx:tlcexltXlbs:tltHlJX~EXXIlX1l"""1<k~K~~~1t:glQllS ~KIx!lca<"-"'Y"""'~XI"~~"""""""'ll<a<~~X~~lill.XlSlIllX"'ll~l!'1" _~_>ootklatx!i{IlXllltllXlWIllxnllll>dm<lt:li:ueK~:>es<~~xUlIl ~lllltXaIolJ<x2~xx_~~~:tI'l:tlllx=ll="""'<'IIln<~,,",~~ ~XIClogKI~x:Xlxfl.xxi<ltlt=~=~lMIlxxlill:lc:~XIIlW<lKJOat:KJelClbelI:xllJttlP<RIl<I<K ~~~~~Jl..tllX:fllXxJtllIl:XIl:ltltll:Xll:i~xOOa<Ix>QO<~""""xi<olot ~,&'i<x~~,/;B&~,e&x~x SELLERS' INITIALS: BU~E!~ INITIALS: <1 ~.5 y STANIlARDS FOR RBAL ESTATE TRANSACTIONS A. .vx~ or TI'LaI (llAn abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to Real Property recorded in the public records of the county wherein Real Property is located, through Effective Date. It shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract. the abstract shall became the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2J A title insurance commitment issued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's title to Real Property, subject only to liens, encumbrances, exceptions or qualification provided in this Contract and those which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in Contract. Marketable title shall be determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 30 days from receipt of notice to remove the defect(s), failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending the time 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 immediately be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligation under this Contract. B. PUJlCIIAD IIODY lIOK'l'QAQIil S&COJU:'rJ' al3ll---r '1'0 SJlLLDI A purchase money mortgage and mortgage note to Seller shall provide for a 30 day grace period in the event of default if a first mortgage and a 15 day grace period if second or lesser mortgage; shall provide for right of prepayment in whole or in part without penalty; shall permit acceleration in event of transfer of the Real Property: shall require all prior lien and encumbrances to be kept in good standing and forbid modifications of or 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 reasonably 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 Sellerj but Seller may only require clauses customarily found in mortgages, mortgage notes, and security agreements generally utilized by saving and loan institutions or state or national banks located in the county wherein 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 financing statements. If a balloon mortgage, the final payment will exceed the periodic payments thereon. C. SUKYKYI Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have 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, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. D ......:.... Ilfi'...SII. a. 81:I.~all's LIljl SI, HkiR '6...8 a118 ad '61 illi a.. EI ii3lu sf tiHle. and u E11.iiHflin.8 SMI, lUll lla 8 Jleal Pl!BJ.U~ iRS'U'ui Iii:. a FIed.. SuhHall PU'6 Sa! .I'sl '4lU&E8.. ("'4laluEuM) ~s eleEUfllllRe if 'dun is ~ istll18 asat s UiAIIi'6e i. iesEa.isll SI' i.si.lI!Ile slIisHIlI liiHl'la'8 bu .8-.i'6s IlflfuE&t;.iSll ill .ks Pire,ua:, Ii si'6l1.81f all" sa.k alre In.RIl. lI~n' ill ka 8 t .&:.s belll li&'8 sf lIi"S8 f1sHu .kIlIfBS' i.kiR ,llisll 'a ka s su' sf 'l;lI"e&UlIlI\1!., if lI"elfliil!e.li. es1!.iIlla'elli. ~ ERs S,UB'S!! Mill all BaIIlaj".8 lRaJlU'liias ani as'liiRIB.'Ili ~ il liuRsali ledlelu U' ,al1s..&l 88R'I;!ilSEell ~allel' sRall ,a} alis Isses sf 'I;..saE~B! E aftd Ispaill af all ~'s ~, 'l;S ERe amsWRE ,~e ielss ia Pal!'a,!aJlll Ie) I' BSElIMESet ISS'.II ausses ,"-lue HlSWlE. 91;1.~ U! shall )la. s E)lS eJlHB8 sf sa-Rulifl' tillis QUI.'llas' ,i.Ria Ii lia.}8 ahBl! lIesa",. af SllflElfas'l;U'B II!'8Jlai.~ BSEiJIlIl.'a 1iI~ ,i h, l'lI"insl'! ! sHes 'u Sells. a. 9fi'...U 1lIa.} ellUl' .8 ,nSBul iea ella 'l;FMisasEisR. ala llUei. II a ll!e.aH. aE IIuift' Sl\ ERS aRlBWU JllS iliaa liR Faua.!l1!&l'k (,I.) "TB~lit;BS" slla.ll se ssa_es _I i.R8l~d8 all Beet desEFB~i.l'!' 8.I~iBIIlB wequill"SB ES BIl !sJBII...sa -RBIlI' '1;&. FlslI":i.1ia PSSE gU'l;..81 'SIi., ae ams! jul .. I~S. AND SQKKS81 Seller warrants and represents that there is ingress and egress to the Real Property sufficient for the intended use as described in Paragraph VI hereof, title to which is in accordance with Standard A, F. LaAS.Sa Seller shall, not less than 15 days before closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant speCifying the nature and duration of the tenant's occupancy, rental rates, advanced rent and security deposits paid by tenant. 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 for.m of a Seller'S affidavit, and Buyer may thereafter contact tenants to confirm such information. Seller shall, at closing, deliver and assign all original leases to Buyer. G. LIDS I Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, clai~ of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to Property for 90 days immediately preceding date of closing. If Property has been improved, or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by all general contractors, subcontractors, suppliers, and materialmen in addition to Seller's lien affidavit setting forth the names of all such 'ileneral contractors, subcontractors, suppliers and materialmen and further affirmdng that all charges for improvements or repairs which could serve as a basis for a mechanic's lien or a claim for dama'iles have been paid or will be paid at closing of this Contract. B. PLACK or CL08tWGa Closing shall be held in the county where Real Property is located, at the office of the attorney or other closing agent designated by Seller. t. T~. In computing time periods of lee8 than eix (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided for herein ~hich shall end on Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day. T~ i. of the ....nc. in tbi. Contract. J. tlOC'UIIaI'rl J'OR CL08:I1Il31 Seller shall furnish deed, bill of sale, construction lien affidavit, owner's possession affidavit, assignments of leases, tenant and mortgage estoppel letters, and corrective instruments. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement, and financing statements. J:. .uUlI.SI Documentary stamps on the deed and recording corrective instrwnents shall be paid by Seller. Documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, and recording of purchase money mortQaQe to Seller, deed and financing statements shall be paid by Buyer. Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title or abstract charge, title exandnation, and settlement and Closing fee, shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph IV. L. PRORAT:IOR8, CKKDXT81 Taxes, assessments, rent, interest, ins~rance and other expenses and revenue of Property shall be prorated throuQh day before closing. Buyer shall have the option of taking over any existing policies of insurance. if assumable, in which event premiums shall be prorated, Cash at closing shall be increased or decreased as may be required by prorations to be made through day prior to Closing or occupancy if occupancy occurs before Closing. Advance rent and security deposits will be credited to B~yer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the c~rrent year's millage is not fixed, and current year's asses$ment is available, taxes will be prorated based upon such assessment and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are completed improvements on Real Property by January 1st of year of closing, which improvements were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration available exemptions. Any tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill on condition that a statement to that effect is signed at closing. K. SPSCZAL AS~.~ ~I Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid ~ Seller. Pending liens as of date of closing shall be assumed by Buyer, If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered as certified, confirmed or ratified and Seller shall, at closing. be charged an amount equal to the last estimate of assessment for the improvement by the public body. N 1N8..gw~g.. ~II. I~ ~I ---I Gallsr &WWaR~S ahaa. a8 ai lQ Ba~s ,eier as slasi~,. Eha s8i1iR,. r..' IbBlrdiJl' .he basia an. sdUasl aRB aUaSIiUl il' i illaslial aUs. ht:L'Uiati.ieR. UM aIls (er BIfU;L aleR.) aRt lIellha.s lie Ra. 1M . aR~ UIEHII:..H H'lIB8IJSG ei lsalIB, "\ aliaw Elama,a al! s\Fli8lilieal EliUUI8 HI. aAaa HI!. sep'e.iB a.a. pBal. all i1JiJiliilflilBs. llIuna. ieal i'ESI~. lIeaHRI. &BBlill. slu"Eieal, Jil.Blllail J B~S.8IUl iH B Rla.sHi! e~ ars ia'lGRItIllQ ggrmI'PI9IT 'It1e isl!alaiRI alrinll":. SRall llll IHIlHeEi Ee ERe hBfllB slIulHBll iIlIlasa nllu iss ,n idea iI'l M ilaBEllliwR BI:I.:.el' llIS.). a" g~elt"8 elipet1SS, ka a it1S,aSEiSllB made a' "'HUB h.S!la 8:l a (:i.E. Be i IIi tlild.al sJluiaH.lllflJ iR Halll8 it1l1J1u'!leI'l8 and AsIEliRI aft SSSId.Ji.8.'eiaRal liu.! lie hit' s1:l811 lIu,ese (if l!"eflU.iuElI ell ~ HI aJiJiuJil!iaasl~ lieelleeli Flslrilia BSt1'Elas\ell 81:1~e.I! sAall, I3'l'"1sl' Ea g~u'a SUI:IJMB) alt' Rea less EflaB 19 liI.:.a IIlrin Ea sleSt.t1I, lli.sHs u assl:I.l's ill'S'. It'e's.... iR "\ !'iaill' ...a SalIBI' s,uR i.8111S Ella' Ela flSE IIISS' 'eka a.lla B SEa. Elalt'ds a.e ...s El.deEl.s "I Ius B~e!' "illlsl) l"eJlUla sliBll Elsfss"'s, 9.J.~B1l skall e8 BaelllBIi 'eE1 Ra e at ad belIn's &!'lr&R'iss.8.s "s IisEea"s tlSl eSJlsl'...sd If es,&iea 81 l!aJilaEl!.IIISflE AilS I!"e~ilt'e. 'S ee..l~ i'eM Ekia &Ealldilll.. Seller shall saAse !ReM "S ~e made a. B shall J1.~ "-JI 'a 'el'lS aR1BJ.IlE 'lie LoisEl l.1l PAE&'I'il.J1.11 (e) SallBl!' is flaa l'eif'ihBEl 'o.s ma)tS E'e,ail's 8. eSJilaEl8He~'s eE a aes~a.is t1a"Id.I'B ~lss. 8&ld.es. e~ a liei88' SellsI' is I!ss,sReiela 'a eSJial!' aE fB.II1asB If 'ells sss. ai SltIeA .eJlai.1' a!' ..eJllaseDl8lll5 ellBasH Ells a.ms~" '1t'8 laBEl i~ Pua!, aJlll Ie/ ~el' 8E l;ellBl! ~ slaaa Ee lIa:;. SId.SA alis8s11, iailiR, kiBH ah.Hu IIU'e~ llra~ saIlad \His S'uEn.s' Ii balln is Wlalils SB UIJI'U. "lls dshs.s II11"i81' 'ell 81ssiRI, 'eHa B8S. 'eHuui sull lis lIaill iREa BSall"e .iI' 81ssi~, balleI' sAall. I:IlIa~ l'easBIla8la lla\is8. Ilea ide H:;ilieiu su he. all. ansss "S "A. Pl!'IlJ&w.::, En iIlSJlllS'hfl8. '-BSl.IIUtl. a alh \H1!elJ.tR Ill'iBI' 'EEl Illssi~,. 'U SSIlU!1!'18. .kaE all heINI af 1'81'88R&1 PWBJSI''e~ U.S all '&Ra Raal PiI!ellu":. lH d. Bliejsee .11 .ka hes,silll, .Ra'e all .lBffl:Itrsd I'EI,aips all. eaJllilSBRlS~ES Hi. a lluJ lll4ae !lRj Ella. "RII P~e,slr.} LRe!l:uHR' Bl:la Re. HIIIHBli 'liB, Iii. "1'1, g}ll1".le:en~ aflEl lIul. if i!lll~. l:!aa eeell mailll4i~aB ill 'EHe estlliiliiB~ i!lEisEiR, all ef Bihalii e Saae, Bl!aifla.lJ SU ana "eal" euse,aed \) MIlK or t9G"1 II! 'eks 1'1's.,a \) is SlillflaJBIi ll::, HilS 81" 8!.RSII" sasuh.:, eeiel'e slash, id li su!. sf eesEUilElU lieu RS\ III1.e.. J' ef 'elle uSBSseEl alliaHsl sf .As P..aJBiIf'li::, JlS _rated. SUI;. ei l:iu.u4IiiBtl sAall Be /lR slllil.U.iBR ai .ks SalIn all. slssil, 81'11.11 Jl!aaasoi '11IIt'S\UIt. ,. 'eHe .e.L"II.a af SStl\lilS'e iEH e8B.slF....is~ ess'u eselre ed al;. slnhl Ii .lle au'!. sf l'u'ealt'a'eiSR euena. J' si 'eAll aSBuse. ah,u,iu SE Eka iHlfn emu,s 8IIl lIama,eli, BI:I~ Be shall Il& a EM. B,.i... sf si-Ilke. la.biRI PI"B'U\} as is, UISI;.)'IB... hk eidue 'e}]a ]I &1' a~ !t1SlJ.eilL es '''BUSH Ila!lallle 8!l i..'IiB si sld.sk Ius BI El.!!lIII.aIB, BI ilf eal'lElelilll Sat1.It'....'e a.ut Issei ill. l'eald.Al Bf ie.Jui.tIS) P. ~a0cKKD8 OF BALlI CLOSING PROCKDURaI The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closinQ date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of .uch notification to cure the defect. If Seller fails to timely cure the defect, all deposit{s) shall, upon written demand by Buyer and within 5 daye after demand. be returned to Buyer and simultaneously with such repayment, Buyer shall return Personalty and vacate Real Property and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fails to make timely demand for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale. If a portion of the purcha.. price is to be derived fram institutional financing or refinancing, requirements of the lending institution as to place, time of day and procedures for closing, and for disbursement of mortgage proceeds shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a written commdtment that it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer-mortgagor. The escrow and closing procedure required by this Standard may be waived if title agent insures adverse matters pursuant to Section 627,7841, F.S" as amended. Q. ESCROWI Any escrow agent (-Agent-) receiving funds or equivalent is authorized and agrees by acceptance of them to deposit them promptly, hold same in escrow and, subject to clearance, disburse them in accordance with terms and conditions of Contract. Failure of clearance of funds shall not excuse Buyer's performance. If in doubt as to Agent's duties or liabilities under the provisions of Contract, Agent may, at AQent's option, continue to hold the subject matter of the escrow until the parties hereto agree to its disbursement, or until a judgment of a court of competent jurisdiction shall determine the rights of the parties or A;ent may deposit with the clerk of the circuit court having jurisdiction of the dispute. Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully termdnate, except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate broker, Agent will comply with provisions of Chapter 475, F.5., as amended. Any suit between Buyer and Seller where Agent is made a party because of acting as Agent hereunder, or in any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorneys' fees and costs incurred with these amounts to be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shall not be liable to any party or person for misdelivery to Buyer or Seller of items subject to this escrow, unless such misdelivery is due to willful breach of Contract or gross negligence of Agent. K. ATTOKKKY FKKS, cogrSI In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litigation which, for the purposes of this Standard, shall include Seller, Buyer, and any brokers acting in agency or nonagency relationships authorized by Chapter 475, F.S., as amended, shall be entitled to recover fram the non-prevailing party reasonable attorney's fees, costs, and expenses. s. FULUU or pzuoRllUll3I Except as provided in Paragraph VII, if Buyer fails to perform this Contract within the time specified lincluding payment of all depositls11, the deposit (5) paid by Buyer and deposit Is1 agreed to be paid, may be recovered and retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under Contract. or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If, for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specifiC performance or elect to receive the return of Buyer's deposit Is) without thereby waiving any action for damages resulting from Seller's breach. T. COII'l'It.AC'l' MOT UCOltDABLJ:, PDSOII8 8OVJID, IIO'fICSI Neither this Contract nor any notice of it shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as if given by or to that party. u. COHVZY~I Seller shall convey title to Real Property by statutory warranty, trustee's, personal representative's or guardian'S deed, as appropriate to the status of Seller, subject only to matters contained in Paragraphs VI and XII and those otherwise accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. v. 0TR&a ~81 No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the party or parties intended to be bound by it. W. WAKRARTI..I Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. ~ [IT' DF DELRR' BEA[H CITY ATTORNEY'S OFFICE 'O() NW hi i\VFN\ I . ilL! Ri\Y BEi\CH. FLORIDA 33444 TnTPllot'\T )(,I,'2-t"il;(j', .!'ACSI\1ILL: 561/:27g-475.'i Writer"s Direct line: 561/243-7090 DELRAY BEACH ~ All-America City , , II ~! DATE: TO: 1993 2001 MEMORANDUM November 7,2005 City Commission David Harden, City Manager #J FROM: Terrill C. Barton, Assistant City Attorney SUBJECT: Resolution No. 82-05 Attached to this memorandum please find Resolution No. 82-05 which confirms the City's intent to transfer/sell the property referenced above to Louis Saint Fort and Josette Saint Fort, his wife, for housing purposes as part of the Carver Square Relocation Project. Also attached please find a partially executed Contract for the Sale and Purchase of the above-referenced property. Please place the Resolution and supporting documents on the agenda for the November 15, 2005 City Commission meeting for consideration. TCB:smk Attachments cc: Chevelle Nubin, City Clerk \<J'S. RESOLUTION NO. 82-05 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AUTHORIZING THE CITY TO TRANSFER/SELL REAL PROPERTY IN THE CITY OF DELRA Y BEACH WIDCH PROPERTY IS LOCATED AT 802 S.W. 3RD STREET, AS MORE PARTICULARLY DESCRIBED HEREIN, TO LOUIS SAINT FORT AND JOSETTE SAINT FORT, IDS WIFE, TO BE UTILIZED AS HOUSING AS PART OF THE CARVER SQUARE RELOCATION PROJECT. WHEREAS, the City of Delray Beach, Florida, desires to transfer/sell property located at 802 S.W. 3rd Street, for the purpose of providing housing as part of the Carver Square Relocation Project; and WHEREAS, the City acquired the property from the County as the result of unpaid property taxes; and WHEREAS, the City Commission has determined that it is in the best interest of the City of Delray Beach, Florida, to transfer/sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents ofthe Delray Beach. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Commission of the City of Delray Beach, Florida, as Seller, hereby agrees to transfer/sell the West 79 feet ofthe East 104 feet of the North Y. of the North Y. of the Southeast Y. of the Southeast Y. of the Southwest Y. of Section 17, Township 46 South, Range 43 East, Delray Beach, Florida, less the N.25' thereof, to Louis Saint Fort and Josette Saint Fort, his wife. Section 2. That the terms and conditions contained in the Contract for Sale and Purchase and addenda thereto between the City of Delray Beach, Florida, and the Buyer as hereinabove named are incorporated herein. PASSED AND ADOPTED in regular session on the _ day of , 2005. ATTEST: MA YOR City Clerk CONTRACT FOR SALE AND PURCHASE PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, 100 N.W. 1" Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), ("Seller"), and the JEAN LOUIS SAINT FORT and JOSETTE SAINT FORT, his wife, ("Buyer"), 702 S.W. 2nd Terrace, Delray Beach, FL 33444 (Phone: 561-272-4558), hereby agree that the Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Propertv") upon the following terms and conditions, which INCLUDE the Standards for Real Estate Transactions ("Standard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("Contract"). I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: The West 79 feet of the East 104 feet of the North" of the North .. of the Southeast .. of the Southeast .. of the Southwest .. of Section 17, Township 46 South, Range 43 East, Delray Beach, Florida. Less the N. 25' thereof. Property Control No. 12-43-46-17-43-000-0010 (b) Street address, city, zip, of the Property is: 802 S.W. 3'd Street, Delrav Beach, Florida 33444 II. PURCHASE PRICE PAYMENT: $40,000.00 (a) Deposit(s) to be held in escrow by Robert W. Federspiel, P.A. Trust Account in the amount of $ 5,000.00 (b) Balance to close shall be paid in the form of U.S. cash or a LOCALLY DRAWN certified or cashier's check, subject to adjustments or prorations $35,000.00 III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before December 1. 2005, the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. The date of Contract ("Effective Daten) will be the date when the last one of the Buyer and the Selle!; has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. TITLE EVIDENCE: Within thirty (30) days from the Effective Date of this Contract, (CHECK ONLY ONE): Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney; OR X Buyer shall at Buyer's expense obtain (CHECK ONLY ONE): ___abstract of title or ~title insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's policy of title insurance. V. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered within one hundred twenty (120) calendar days following the execution of this Contract, unless modified by other provisions of Contract. VI. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: 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 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 stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money 1 mortgages, if any (if additional items, see addendum); provided that there exists at closing no violation of the foregoing. VII. OCCUPANCY: Seller warrants there are no parties in occupancy other than Seller; Seller shall deliver occupancy of Property to Buyer at time of closing subject to Paragraph XI E. VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them. IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) ___may assign and thereby be released from any further liability under this Contract; may assign but not be released from liability under this Contract; or ~ may not assign this Contract. X. 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 over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Addi tional 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, if any is located on the Real Property. XI. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE ~. XII VOIDABILITY: Buyer and Seller agree that this Contract is contingent upon the Seller's ability to successfully quiet title to the property described in Paragraph 1. In the event that title is not successfully quieted, the contract shall be void and there shall be no liability on either the Buyer or Seller for failure to continue to perform under the terms of this Contract. By: CITY OF DELRAY BEACH Date Print Name: Tax ID No. Social Security @? v: ~S7 or Tax ID No. -4 -. JOSETTE SAINT FORT By: 11/oS Da e Print Narne::T;;-Se.if-c:. Sa..-,~r ~,-f- Social Security _ or Tax ID No. ;572 't":.J"-J/Zr:. Deposit(s) under Paragraph II(a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE: ROBERT W. FEDERSPIEL, P.A. (Escrow Agent) By: 2 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE SELLER: CITY OF DELRAY BEACH, a Florida municipal corporation BUYER: JEAN LOUIS SAINT FORT and JOSETTE SAINT FORT, his wife PROPERTY ADDRESS: 802 S.W. 3rd Street, Delray Beach, Florida XI. SPECIAL CLAUSES; ADDENDA (Continued): A. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): The parties shall comply with the provisions of Internal Revenue Code Section 1445 and applicable Treasury Regulations issued thereunder. If the Seller is a U.S. person for Internal Revenue Code Section 1445 purposes, then on demand of the Buyer and prior to closing the Seller shall provide the Buyer with a certificate of non- foreign status in the manner provided in Treasury Regulations Section 1.1445-2. If the Seller provides the Buyer with such certificate, and if the Buyer is otherwise permitted to rely on such certificate under those Regulations, the Buyer shall not withhold under Internal Revenue Code Section 1445. If the Seller is a 'foreign person' as defined by the Internal Revenue Code, the Buyer generally is required to withhold 10% of the gross sales price from the Seller at closing and to pay the withheld amount over to the Internal Revenue Service (IRS) unless an applicable exemption from withholding or a limitation on the amount to be withheld is available. To the extent that the cash to be paid over to the Seller at closing is insufficient to cover the Buyer's withholding obligation, the Seller shall provide to the Buyer at closing cash equal to such excess for purposes of making such withholding payment. If the Seller's federal income tax on the gain is less than the applicable withholding amount, the Seller may make advance application to the IRS for reduced withholding and, if granted, the Buyer shall withhold only the authorized reduced amount. If such ruling has not been received by closing, the parties at closing shall enter into an escrow agreement reasonably satisfactory to the Buyer and Seller pending receipt of the ruling, provided that at closing the Seller shall have the obligation to provide to the escrow agent from the closing proceeds (or from the Seller I s other resources if necessary) cash equal to the maximum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires the Buyer and the Seller to have a U.S. federal taxpayer identification number and to supply that number on the foregoing forms. A foreign individual may acquire an International Taxpayer Identification Number for this purpose. Since it may take several weeks to receive the number after application and the IRS will not process these forms without the actual number, a party lacking a TIN is advised to apply immediately. B. The Buyer shall have sixty (60) calendar days within which to conduct any and all feasibility studies and determinations relative to the suitability for the acquisition of the subject property by the Buyer and the Buyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in Buyer's sole discretion, whereupon Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to the premises to conduct such feasibility studies and determinations, including environmental assays, core drilling, surveys, soil sampling and other such testing. o. This Contract is expressly contingent and conditioned upon the approval of the same by the City Commission of the City of Delray Beach. D. The parties represent and warrant that there is no broker involved in this transaction to whom a commission would be due.~~xXx~~XxRB ~1<1<"~RP~fFl'el~~J.<l< itXX~JDpOIIJK:ElElbl::i:H~l<h<a<~~XXKlt~~ Xfa<it:kkk!a<KX~~KK~~~iO:~~~~~_llwdtlllxx:i:mt XIll!l<xIxlm:>DJXIXlleOlIx~Xllfx~X~XIi1qIKXXlO<1f."""'l<1l"~l<XIlllfQ<~~x~ ~xIxlm:"-k"","<~Xll'"~~"""""""'~~~x_~~~l!lIx~~XJlQl:!.<t' _~_K'KiO:kkltxj{!lnltllX~ltxxi;lI~ltXileK~lelSK~xm~_ ~""'''''''''J<XjlIq:llxx=xIK~~~xJtl'lltlllX''''''=~xIln<~~ ~_~xx%<J!xxllltxm~~~~xlillllu:XIIJticllclKXlOix~~HllD[x ~_~lIx:fllXXJtllll~ikltllX\l[li:~xOOalIxJg<X~:IIXJla:z::i:"at ~l8M~~~~,e&~'Iootx SELLERS' INITIALS: BU~~~ INITIALS: -d~S jJ STANDA1lDS POR RBAL BSTATB TRANSAC'l'IONS A. BVZDKMCZ or ~ITL&I (l)An ahstract of title prepared or brought current by a reputable and existing abstract firm lif not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to Real Property recorded in the publiC records of the county wherein Real Property is located. through Effective Date. It shall commence with the earliest public records. or such later date as may be customary in the county. Upon Closing of this Contract, the abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance commibment issued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's title to Real Property, subject only to liens, encumbrances, exceptions or qualification provided in this Contract and those which shall be diSCharged ~ Seller at or before Closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in Contract. Marketable title shall be determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with law, Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defectlsl render title unmarketable, Seller will have 30 days fram receipt of notice to remove the defectlsl, failing which Buyer shall, within five (51 days after expiration of the thirty (30) day period, deliver written notice to Seller either, (1) extending the time 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 immediately be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defectlsl in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit(sl, thereby releasing Buyer and Seller from all further obligation under this Contract. .. PURCIlU& IIODY 1IOIl'1'Gl.CD, ncua:tTY a---, '1'0 saLLDl A purchase money mortgage and mortgage note to Seller shall provide for a 30 day grace period in the event of default if a first mortgage and a 15 day grace period if second or lesser mortgage; shall provide for right of prepayment in whole or in part without penaltYI shall permit acceleration in event of transfer of the Real Property; shall require all prior lien and encumbrances to be kept in good standing and forbid modifications of or 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 aa Seller may reasonably 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 may only require clauses customarily found in mortgages, mortgage notes, and security agreements generally utilized by saving and loan institutions or state or national banks located in the county wherein 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 financing statements. If a balloon mortgage, the final payment will exceed the periodic payments thereon. C. BUKYSYa Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have 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, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. It '.11111.... 91.i)u, a. ~e..'s So;J 88, H.kiR.~ allslaet... 1IsH u a !1Isllu sf HUB iIiIli \a SlIilmitlB 8__, ~ ~;:.~:"~::I.~':~":: -::::.~.:.=I::I.=:;:~~:..~:::: =I.:::'::=';;"r::::::'.;,:.,:.~-:'::'};'a;: ~:.~ 8.. saUl ...S iU.lFIll, 91::1ier ,ill }U, II I 1i&~8 h'lliIlI li.ue ei l'itil:;slFI fla.is. 1!.l'Iuu( ,i.1!.kiR i!iek 'ee All a SS81. el 1!..I!SaUl81F1., il !la, iI'S., aU.lllla.sa s~ 1!.lu 9'81'&.al' J.Ri &11 ilamalll iLL a,a.tis' amt asdlllA\all ~ J. Hu"ssll sdlilu!' Sl' !BlFIsesl i1B,,1!..I!ae\ar Sellsl sllsll .a~ alid sseas ill 1!..I!eaaMeiFI. ana repair SE all Samara ~, ~e Efta ameWR1!. 'IS iisa ill l?alra'il'a,R (a) Ii est;imallal'i i1Bl1'iis allseei .1\u. BlSIjI E, ilw.:. BI! sllall lu. a 'die epeieR sf saRuliRJ eais SSRlll'a.. i..kiR s: Ela~s ah.eF Fsasl,. si SSfl1!.raet;...'s l'aJai,F 8se!,RIat;s ~ Ii ill. lri,nStl fle1!.i.es liB Gellal! air liuJla. R1a~ slase lie ,Isseell lei! eks eesRsas.lsR, AiFld "Besi s a sluElle at!. else!,,,, Sl ells ilIIIIaljlt!. ,re iElea i.1l Pa..J.!laJlk (AI "'i'ulIli.eu" allsll sa da2lll Li .S .i.flsl~ia all I eed el.e.sE"Si i.fll S.I!,s.ni,9INl nllU1Fsd la se FeJl8l''eea "" etall ell. Vleri.da Pest!. ~ef1'''BI 'SE. as aMslFIElaEl. .. ZNQa&S8 AND ~SSl Seller warrants and represents that there is ingress and egress to the Real Property sufficient for the intended use as described in Paragraph VI hereof, title to which is in accordance with Standard A. F. LKAS&81 Seller shall, not less than 15 days before closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant speCifying the nature and duration of the tenant's occupancy, rental rates, advanced rent and security deposits paid by tenant. 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 fo~ of a Seller's affidavit, and Buyer may thereafter contact tenants to confi~ such information. Seller shall, at closing, deliver and assign all original leases to Buyer. Q. L:rUSI Seller shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to Property for 90 days immediately preceding date of closing. If Property has been improved, or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by all general contractors, subcontractors, suppliers. and materialmen in addition to Seller's lien affidavit setting forth the names of all such general contractors. subcontractors. suppliers and materialmen and further affirming that all charges for improvements or repairs which could serve as a basis for a mechanic's lien or a claim for damages have been paid or will be paid at clOSing of this Contract. S. PLACS OF CLOS:rHQI Closing shall be held in the county where Real Property is located, at the office of the attorney or other closing agent designated by Seller. :t. T:t-'a In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided for herein which shall end on Saturday, Sunday or legal holiday shall extend to 5;00 p.m. of the next business day. Ttm. ia of t~ ....DC. in this Contract. J. DOCUMUI'rI ~ CLOIIWQs Seller shall furnish deed, bill of sale, construction lien affidavit, owner's possession affidavit, assignments of leases, tenant and mortgage estoppel letters, and corrective instruments. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement, and financing statements. K. UPUUSI Documentary stamps on the deed and recording corrective instruments shall be paid by Seller. Documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, and recording of purChase money mortgage to Seller, deed and financinq statements shall be paid by Buyer, Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title or abstract charge, title ex~ination, and settlement and closing fee, shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph IV. L. .ROaATIORS, CREDITS I Taxes, assessments, rent, interest, insurance and other expenses and revenue of Property shall be prorated through day before closing, Buyer shall have the option of taking over any existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through day prior to closing or occupancy if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller, Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are cOlTlPleted i~rovements on Real Property by January 1st of year of closing, which improvements were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration available exemptions, Any tax proration based on an estimate sball, at request of either party, be readjusted upon receipt of tax bill on condition that a statement to that effect is signed at closing, N. S~SCIAL AB"S~ LI"'1 Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller, Pending liens as of date of closing shall be assumed. by Buyer, If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered ae certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate of assessment for the improvement by the public body. II l....;.;r_. ....JJiA MID tIH --a IOl1lu snAIl.. 'Iii)!.1I. as al 1Q _;.a ,l'i.n 1Ia sladft., I;.)!a ui.!ifll. nd (il'll1tiliift. "ka (.ad.. aflll sallhs) ull au.ad.s" aRIl i....BJ!iu aIls, (eti..IiaSiSI. SSM aIls (n BlI\:lL alaR') an. asell.fs lis fl.. Ba II aR} "IBIIU.R IF'I:emJQS e( lsall8, a'nll alUN.f8 a:F 55.us",,!!..1 HmaIS af!i 'E)!a. Hill sapEts Euh. ,ul. all ilIlIlH.aflsu. IUSho:t:li Leal i.SIlIill, kuHRt. SUHRI, alesl;.:Fiu.l. Ill""!ft. S'..n.ElIll8 ua lI\IIlSlli.fle~ aile iR 'JQFUUIK:7 'ti9JliH'rI9JJ '{lfts iere.ai.RI ,al'nfl'E~ aRall 1118 UB.sa I;.S 'E);S i'EBRIS slIIuiEisd IiIllus al;.lleF! he '1!'B iEle.!l if! Madsen.... Bl:t';)u' lU.}, a' BIi}sl"s alilleRse. Ila e i~ s'all.islla RLule sf 'e.l1ese HiBIIlS Ia:, a hl'W. S:F ilUii istial sllseialhifl, ifl llslRs iflsJlu'!ls..s al Ii l1slaifl' 8fl BSl'l\tlla"is!'!&l li.ElBflSa hll SIiSJ:! JlIiI!'IIUa (if I'slf\:lhea) SI' S;. Ml &Jl.Jll!E!Jll!ia_sl~ li.seRses Fluii... SBR'..aS'SIr BIi.:;1l1F eJ:lall, Jilial' 'n B.l:'u'. eSSIoIJlilflS:' Sir RaE leea ,);.. lQ _:,s p..iel Ee slasift., )lisli. U' BS&HIr8 1i.:FS' , IIB,a... if! liEifl' Ee Selle~ StisJ:! i'l;B_ .Ii.... ie RSt; RlS"'E .as. ase S sEaRElalllis 8S ES aslesEs Yfllsss B~sl' EilllSl:, IlE!JlU.S SHell Els(eeEs. 91i.~a:F shall ss. is.811li6s ES Bl e a!. ed Bellell's al!l!&RHee as _a aeies's flS'!; e,sll's8 IE l'eJlailrs S:F l'eplasa~Bftti ale I's~il!si 'e se..l:, iE~ .ftis EE~ ialli. ~sllel' shall Ba~se !)laM E& las lllalis aRB aBall P&~ !if U EllS iiIII Btifl' Jill! Lisi iR l?al!&11r8,1l (s) SellBll ia flS' Irslfllilleli Ee RiIilliS ESJlahs SlI IIs,lasSReRES aE .. aasllle,is Ra.'tiES YIIlesB saHBsd Ia) a 8S(SS" 8sl1sI' is I'ssJlslsilala ES I!S'&!.~ B:F IIs,laas IE ERS ess' ei StieR Irsp_h' e~ 'l'eplaeElRl.6flE 8lisuds 'Be JIl a_E ,irS ;Lisa il Fal'&!J'Fap); (lal Bu-}e:F ail! Gells~ WlWol slee' .8 JiB) sHsk Slllies_, (dli... )<Jiali Si.BBI! ,alr"~ 1M:' Bl.flul ,"!.. SSI\El'aSE 111 gelle~ is IiH alals 'e e&IFI'SS' ,);& Elsies'u lII11iel!' Ell sleail'. .ks 888'!; 'RslE'esf s"'ll B8 ,aili ifl8S a8S'FS ai slesi II EBlln ekall, I:tJSI'I I!sasBfl&sls lu'!;ie8. 'iUI iie il'!;Ui'liiss SSF ;Le8 _Ii anus 'li.s 'fi);, Pl!BJlu"~ h.. iRs,u.ieRa, it1&l""liifl. 8 alll &kntitlJ Il!:!'ie!!' "s .heiR., E. eSRUlI!'III 'llal all H~ d P.:Fs8Ral PI!SJlU8:' alii. eft t;.BS Real Fu.,~.'} ilR.. S""Bjall'l; '8 EBa hl'eleiR.. 'h.t; all 1'&l(klilE'eli Irep.ilfs aftli :FS,laEJBIIIBR.s )<Ja e Bun Rlase al'll. 'Ella. Uu Prepsl"::, iflall:liiRI SIiE flS'e. H.IIlHe. tiS, la,., el'l.tis19sl!.. aftli peel. il &fl~ },as seefl IlWlLR'aiRsli Lfl 'fills sa>> aiEieft euisEb, 8S af Beisnl a e3.~s. ell'aLllal!... au ~ II Ee&1 allBsll'EeEi sa JIlI_ gp "~UIJ II l!)<Js Pu,u'&.:, is iIMta,sj ~ U..S BI' aEllu IlaBlW.h~ sshlFs slui!'!1 sRi au.. sf nnnuiB.fl Einll I\el! sUBBes J' e( ..kll .8s88se. allia'hfl el Ella PU'8I:!I} liS iMma,ei. sssa ., IU8EeIl&lisll shall all. a1 ssllll.l.HSR ei 'li.ks Sslls.. 411j .le.ifl. a~.ll 'I'sseai JI""~s~~'e. .s ..~. .eL~ ei Selle..s, i'&.li "ss.s~a..isft SBSEe as aI's sB.' SIB.iAI If Ells eu'e. ei IIU8uaHBIl. Buuella l\ 8i I);S auesss8 &11::l.&I.sl'I sf Elie i..n SIrlU.S se is.ma.,eli, Bti~Sl! sMll 11& s "fte s,Ii." ei sieli... I.hill, Pn,uE::' as is. ISISEkll.. 1 HIl si.'e.Ii.s1l !ftll ], 51' lfl~ ifls..l'~ 8S ,lIuuli.s pa}aalB B;. 11''e.Js sl s~sk less al' ElamaI'S. Sl! sl s_Raalift. 'tiSft....., aREi lIasei iRI I'SEHL"fI af lie,!si1!IS) .. PR0CZZD8 OP SAL&, CLOSIMG P~l The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable fram the date of the last evidence. All closing proceeds shall be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closing date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all deposit Is) shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer and simultaneously wit.h such repayment, Buyer shall return Personalty and vacate Real Property and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fail. to make timely demand for refund, Buyer shall take title as is, waiving all rights against Seller aa to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale. If a portion of the purchaae price is to be derived fram institutional financing or refinancing, requirements of the lending institution as to place, time of day and procedures for closing, and for disbursement of mortgage proceeds shall control over contrary provision in thi. Contract. Seller shall have the right to requirs from the lending institution a written commibment that it will not withhold diebursement of mortgage proceeds a. a result of any title defect attributable to Buyer-mortgagor. The escrow and closing procedure required by this Standard may be waived if title agent insures adverse matters pursuant to Section 621.7841, F.5., as amended. Q. &acaowr Any escrow agent ('Agent-) receiving funda or equivalent ia authorized and agrees by acceptance of them to deposit them promptly, hold same in escrow and, subject to clearance, disburse them in accordance with terma and conditions of Contract. Failure of clearance of funds shall not excuse Buyer's performance. If in doubt as to Agent's duties or liabilities under the provisions of Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow until the parties hereto agree to its disbursement, or until a judgment of a court of competent jurisdiction shall determine the rights of the parties or Agent may deposit with the clerk of the circuit court having jurisdiction of the dispute, Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, except to the extent of accounting for any items previouslY delivered out of escrow. If a licensed real estate broker, Agent will comply with provisions of chapter 475, F.S., as amended. MY suit between Buyer and Seller where Agent is made is party because of acting as Agent hereunder, or in any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorneys' fees and costs incurred with these amounts to be paid fram and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shall not be liable to any party or person for misdelivery to Buyer or Seller of items subject to this escrow, unless such misdelivery is due to willful breach of Contract or gross negligence of Agent. K. ATTORKKY rs&I, COSTSI In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litigation which, for the purposes of this Standard, shall include Seller. Buyer, and any brokers acting in agency or nonagency relationships authorized by Chapter 475. F.S., as amended, shall be entitled to recover fram the non-prevailing party reasonable attorney's fees. costs. and expenses. s. ruLtJU or PKUQRIIU.CJI:I Except as provided in Paragraph VII, if Buyer fails to perform this Contract within the time specified (including payment of all deposit(s}), the depos!t(s) paid by Buyer and deposit Is) agreed to be paid, may be recovered and retained by or for the account of Seller as agreed upon liquidated damages. consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If, for any reason other than failure of Seller to make Seller's title marketable after diligent effort. Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of Buyer's depositts) without thereby waiving any action for damages resulting from Seller's breach. '1'. C01l1'1'ltAC"1' MO'l' UCOIlDABLJ:, pUSOJI8 BOVIIID, 110'1'101 Neither this Contract nor any notice of it shall be recorded in any public record.. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be a8 effective as if given by or to that party. u. COIIWY~I Seller shall convey title to Real Property by statutory warranty. trustee's, personal representative's or guardian'S deed, as appropriate to the status of Seller. subject only to matters contained in ParagraphS VI and XII and those otherwise accepted by Buyer. Personal Property shall. at request of Buyer, be transferred by an absolute bill of sale with warranty of title. subject only to such matters as may be otherwise provided for herein. V. OTBSa ~~81 No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the party or parties intended to be bound by it. .. WARKARTI&., Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. ~s- II 'beY" 6S ~t:- ' C W/~I.L----- www.JJocanews.comOBocaRatonl1lelr;lyBeachNews,Fliday/SatUnfayiJJ<;loberl"B.2005 23 ---o:ID- LoGAL Ilo11cEs tlllJll;'t.lIt-IIIIUI.:IV 1IWlSFBlISEtlllOl.PIlllPEIItY' NoticeofllltBntIQTra~llfISl:lH.eal Pro\Jeltt'll\nJugh-theCilyilf;llek3y BeadlRel\1lissaooePrograrn,IoI:(lWO- 8fS!OCaJPa!'J\s-oICaiYerSquart,1l1,lt arebell1g~d.p~rsuanltilltljl.Ilet:. rayBeachtolTmlllib'~ilpll'liiiit AijerlCvll1C;'S Garver Square Reki(;i\- lioI1"Plan.'.Thepr~to~~.tJW;-. fermdlsoklislegalyt\esatleda<;" U'CN#1:Z--43'4&l&oHI18-Oli6O~- ESO'ofW)50'Otfllock.1B,TOwnOl Delray_accoldiniJtiJf'latB!l:(lk.l;Page 3oftheoflkial'fflCi:u'dSoIPiilmBWch COunty. 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