Res 27-15 i
RESOLUTION NO. 2/-15
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO SELL
REO PROPERTY IN PALM BEACH COUNTY, FLORIDA, AS
DESCRIBED HEREIN, HEREBY INCORPORATING AND ACCEPTING
THE CONTRACT STATING THE TERMS AND CONDITIONS FOR
THE SALE AND PURCHASE BETWEEN THE BUYER AND THE CITY
OF DELRAY BE, FLORIDA.
WHEREAS, the City of Delray Beach, Florida, wishes to sell property located at 510 SW 14"' Avenue;
and
WHEREAS, the Buyer hereinafter named desires to buy the property Hereinafter described from the
City of Delray Beach, Florida; and
WHEREAS, it is in the best interest of the City of Delray Beach, Florida, to sell said property to be
used for single faixrily homeownership.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY CONaIISSION OF THE CITY OF
DELRAY BEACH, FLORIDA,AS FOLLOWS:
Section 1. That the City'Commission. of the City of Delray Beach, Florida; as Seller, hereby agrees to =-
sell to Patricia A. Green, as Buyer, for: the putchase price of the lesser of One Hundred Fifteen Thousand
Dollars and 00/100 cents ($115,000.00) or bank appraised value, said property being described as follows-.
Lot 23, Block 3, CARVER PARK, ACCORDING TO THE PLAT THEREOF,
AS RECORDED IN PLAT BOOK 27,PAGE 55 OF THE PUBLIC RECORDS
OF PALM BEACH COUNTY, FLORIDA
Section 2. That the terns and conditions contained in the contract for sale and purchase and addenda
thereto between die City of Delray Beach, Florida, and the Buyer as hereinabove named ate incorporated
herein as Exhibit"A".
PASSED AND ADOPTED in regular session on the 20`'' o a- 2015.
ATTEST: M A Y O R
City Clerk
5/2812015 Cvversheet
MEMORANDUM
TO: Mayor and City Commissioners
FROM: Michael Coleman, Interim Director, Community Improvement
THROUGH: Donald B. Cooper, City Manager
DATE: May 8, 2015
SUBJECT: AGENDA ITEM 10.A. -REGULAR COMMISSION MEETING OF MAY 20.2015
RESOLUTION NO. 27-15: CONTRACT FOR SALE AND PURCHASE OF THE PROPERTY
LOCATED AT 510 S.W. 14TH AVENUE
BACKGROUND
The City of Delray Beach has received $1,905,005 under the Neighborhood Stabilization Program
(NSP) award through the Florida Department of Community Affairs by the U. S. Department of
Housing (HUD) and $400,000 from the Delray Beach Community Redevelopment Agency (CRA) as a
result of the Housing and Economic Recovery Act of 2008 (H.R. 3221). The NSP funding is for the
purpose of purchasing foreclosed or abandoned homes for rehabilitation, resale, or redevelopment in
order to stabilize neighborhoods and stem the decline of home values. NSP funds are to benefit Low,
Moderate and Middle Income Households (LMMI). LMMI households are defined as those with
incomes less than one-hundred twenty percent (120%) of Area Median Income (AMI) as determined by
HUD.
The City of Delray Beach desires to sell the property located at 510 SW 14th Avenue to Patricia Green
for the purchase price of One Hundred Fifteen Thousand Dollars and 00/100 cents ($115,000) or
appraised value and provide subsidy up to $25,000 secured by promissory note and second mortgage.
Lot 23, Block 3, CARVER PARK, ACCORDING TO THE PLAT THEREOF, AS RECORDED
IN PLAT BOOK 27, PAGE 55 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY,
FLORIDA
LEGAL DEPARTMENT REVIEW
Approved as to form and legal sufficiency.
FINANCIAL DEPARTMENT REVIEW
No funding approval associated with this request.
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5/2812015 Coversheet
DISCUSSION
Request is to approve sale of NSP property located at 510 SW 14th Avenue, Delray Beach, FL 33444 to
Patricia Green for the price of One Hundred Fifteen Thousand and 00/00 cents ($115,000) and provide
subsidy up to $25,000 secured by promissory note and second mortgage.
TIMING OF THE REQUEST
Sales contract authorizing closing within 60 days to be signed by Seller (City) and Buyer (Ms. Green).
RECOMMENDATION
Motion to approve the sale of the Neighborhood Stabilization Program property located at 510 SW 14th
Avenue, Delray Beach, FL 33444 to Patricia Green for the purchase price of One Hundred Fifteen
Thousand and 00/00 cents ($115,000) or appraised value and provide subsidy up to $25,000 secured by
promissory note and second mortgage
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CONTRACT FOR SALE AND PURCHASE ("CONTRACT")
PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, ("Seller") or
("City") of 100 N.W. 1St Avenue, Delray Beach, Florida 33444 and Patricia A. Green
("Buyer"), of 3040 Congress Park Apt. 417, Lake Worth, FL 33461, hereby agree that
the Seller shall sell and Buyer shall buy the following described Real Property and
Personal Property (collectively "Property") upon the following terms and conditions:
1. DESCRIPTION:
(a) Lot 23, Block 3, CARVER PARK, ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 27, PAGE 55 OF THE
PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA
PCN: 12-43-46-17-41-003-0230
(b) Address: 510 SW 14th Avenue, Delray Beach, FL 33444
2. PURCHASE PRICE . . . . . . . . . . . . . . . . . . . . . . .. . . . .. . . . . US $115,000
3. TIME FOR ACCEPTANCE; EFFECTIVE DATE: If this offer is not executed by
and delivered to all parties communicated in writing between the parties on or before
May 31, 2015, the deposit(s); if any, will, at Buyer's option, be returned to Buyer and
the offer withdrawn. The date of this Contract ("Effective Date") will be the date when
the last one of the Buyer and the Seller has signed this offer.
4. TITLE EVIDENCE: At least Fourteen (14) days before closing date, Buyer shall
obtain a title insurance commitment.
5. CLOSING DATE: This transaction shall be closed and the deed and other
closing papers delivered on or before sixty (60) days from the date of the execution of
this agreement, unless extended by other provisions of this Contract.
6. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title by Quit
Claim Deed subject to: a land use restriction agreement in the form attached hereto as
Exhibit "A", 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 Property lines and not more than 10 feet in width as to the rear or
front lines and 7 1/ feet in width as to the side lines, unless otherwise specified herein);
taxes for year of closing and subsequent years; assumed mortgages and purchase
money mortgages, if any; provided, that there exists at closing no violation of the
foregoing and none of them prevents the use of Property for residential purpose.
7. OCCUPANCY: Seller warrants that there are no parties in occupancy other than
Seller. Seller agrees to deliver occupancy of Property at time of closing unless
otherwise stated herein. If occupancy is to be delivered before closing, Buyer assumes
all risk of loss to Property from date of occupancy, shall be responsible and liable for
maintenance from that date, and shall be deemed to have accepted Property in their
existing condition as of time of taking occupancy unless otherwise stated herein or in a
separate writing.
8. 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.
9. FOREIGN PERSONS:
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.
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.
10. INSPECTIONS: The Buyer shall have thirty (30) 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.
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11. MORTGAGE PURCHASE ASSISTANCE:
A. Seller shall provide purchase assistance to Low Income Households and
Moderate Income Households, as such terms are defined in the Land Use
Restriction Agreement attached hereto as Exhibit "A", in the form of non-
amortizing, 0% interest, forgivable, deferred payment loan:
B. All loan awards from Seller to Owner shall be secured with a second
mortgage and promissory note. Recapture terms are as follows:
a. Assistance in the amount of $15,000 or less will require a 5 year
non-amortizing mortgage.
b. Assistance in the amount of $15,000.01-$40,000 will require a 10
year non-amortizing mortgage.
C. Assistance in the amount of $40,000 or greater will require a 15
year non-amortizing mortgage.
d. Assistance in purchasing newly constructed homes will require a 20
year non-amortizing mortgage.
C. Repayment of the full loan award will be immediately due to the City in the
event any "qualifying event(s)" occur prior to expiration of the note.
Qualifying event(s) are considered to be:
a. Sale or conveyance of the Property or transfer of tile.
b. Assisted homeowner fails to continuously occupy the home.
C. Property is rented.
d. Property is refinanced without prior authorization of the City.
D. Any funds due shall be paid to the City within seven (7) days of a
qualifying event. If assisted Owner does not trigger any of the above
mentioned qualifying events prior to the expiration of the note, the loan is
totally forgiven. In the event the Owner wishes to refinance his or her first
mortgage or take out an equity loan to make repairs or improvements, the
request must be in compliance with the City's subordinate policy. This
policy is available through the Neighborhood Services Division and is
available for public access.
E. Maximum Amount of Assistance: The maximum award is limited to 50%
of the purchase prior of the unit; however, the maximum is not
automatically provided on an individual basis; rather, the amount of
subsidy awarded will be the minimum amount necessary to enable the
Buyer to purchase the property at a monthly payment affordable to him or
her.
F. Affordability: For the purpose of this Agreement, housing is considered
affordable when the monthly mortgage payment, including taxes and
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insurance do not exceed 35 percent of an amount that represents the
percentage of the median annual gross income for the household.
However, this policy will not prohibit an individual households' ability to
devote more than 35 percent of its income for housing. Housing, where a
household devotes more than 35 percent of its income, shall be deemed
affordable if the first mortgage lender is satisfied that the household can
afford mortgage payments in excess of the 35 percent.
12. EVIDENCE OF TITLE: Buyer may obtain, at Buyer's expense, 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 set forth in this agreement and those which
shall be discharged by Seller at or before closing. Seller shall convey by Quit Claim
deed title subject only to liens, encumbrances, exceptions or qualifications set forth in
this agreement and those which shall be discharged by Seller at or before closing.
Marketable title shall be determined according to applicable title standards adopted by
authority of The Florida Bar and in accordance with law. If title is found defective,
Buyer shall notify Seller in writing specifying defect(s). If the defect(s) render title
unmarketable, Seller will have one hundred twenty (120) days from receipt of notice
within which to remove the defect(s), failing which Buyer shall have the option of either
accepting the title as it then is or demanding a refund of deposit(s) paid which shall
immediately be returned to Buyer; thereupon Buyer and Seller shall release one
another of all further obligations under the agreement. Seller will, if title is found
unmarketable, use diligent effort to correct defect(s) in title within the time provided
therefor, including the bringing of necessary suits.
13. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of
title and to examine same, may have real property surveyed and certified by a
registered Florida surveyor. If survey shows encroachment on real property or that
improvements located on real property encroach on setback lines, easements, lands of
others, or violate any restrictions, agreement covenants or applicable governmental
regulation, the same shall constitute a title defect.
14. LEASES: If applicable, Seller shall, not less than fifteen (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 form 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.
15. LIENS: 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 ninety (90) days immediately preceding date of
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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, sub-
contractors, 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 line or a claim for damages have been paid or will be paid at
closing.
16. PLACE OF CLOSING: Closing shall be held in the county where real property is
located, at the office of the attorney or other closing agent designated by Buyer.
17. TIME: Time is of the essence of this agreement. Time periods herein of less
than six (6) days shall in the computation exclude Saturdays, Sundays and state or
national legal holidays, and any time period provided for herein which shall end on
Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day.
18. EXPENSES: Buyer shall pay all costs and expenses incurred in connection with
the purchase and closing, including but not limited to, documentary stamps on the
deed, title insurance, and survey, Seller shall only be required to pay the cost of
recording corrective instruments and the deed.
19. PRORATION'S; CREDITS: Taxes, assessments, rent, interest, insurance and
other expenses and revenue of property shall be prorated through day before closing.
Ad valorem taxes are prorated from January through December 31 of the same
calendar year. Non ad-valorem assessments are prorated from October 1 through
September 30 of the following calendar year. Such taxes and assessments shall be
prorated based on the current year's tax with allowance made for discount and
exemptions. If Closing occurs on a date when the current year's millage is not fixed,
and the current year's assessment is available, taxes shall be prorated based upon
such assessment and the prior year's millage. If the current year's assessment is not
available, then taxes shall be prorated based on the prior year's tax. Any tax proration
based on an estimate shall at the request of either Seller or Buyer be subsequently
readjusted upon receipt of the current year's tax bill.
20. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special
assessment liens as of date of closing (and 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, such 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.
21. RISK OF LOSS: If the property is damaged by fire or other casualty before
closing and cost of restoration does not exceed the purchase price of the property so
damaged, cost of restoration shall be an obligation of the Seller and closing shall
proceed pursuant to the term so the agreement with restoration costs escrowed at
closing. If the cost of the restoration exceeds three percent (3%) of the assessed
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valuation of the improvements so damaged, Buyer shall have the option of either taking
property as is, together with either the three percent (3%) or any insurance proceeds
payable by virtue of such loss or damage, or of canceling the agreement and receiving
return of deposit(s).
22. ESCROW: 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 agreement. 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
agreement, Agent may, at Agent's option, continue to hold the subject matter of the
escrow until the parties mutually 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.
(1987), 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 attorney's fees and costs
incurred with the fees and costs to be charged and assessed as court costs in favor of
the prevailing party. Parties agree that 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.
23. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the
time specified Seller shall be relieved of all obligations under 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(s) without thereby waiving
any action for damages resulting from Seller's breach.
24. AGREEMENT NOT RECORDABLE; PERSONS BOUND; NOTICE: Neither this
agreement nor any notice of it shall be recorded in any public records. This agreement
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.
25. OTHER AGREEMENTS: 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.
26. WARRANTIES: Seller warrants that there are no facts known to Seller
materially affecting the value of the real property which are not readily observable by
Buyer or which have not been disclosed to Buyer.
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27. MOLD: Mold is naturally occurring and may cause health risks or damage to
Property. If Buyer us concerned or desires additional information regarding mold,
Buyer should contact an appropriate professional.
28. LEAD WARNING STATEMENT: Every purchaser of any interest in residential
real property on which a residential dwelling was built prior to 1978 is notified that such
property may present exposure to lead from lead-based paint that may place young
children at risk of developing lead poisoning. Lead poisoning in young children may
produce permanent neurological damage, including learning disabilities, reduced
intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also
poses a particular risk to pregnant women. The Seller of any interest in residential real
property is required to provide the Buyer with any information on lead-based paint
hazards from risk assessments or inspections in the Seller's possession and notify the
Buyer of any known lead-based paint hazards. A risk assessment or inspection f or
possible lead based hazards is recommended prior to purchase.
Seller's Disclosure (Initial)
(a) Presence of lead-based paint and/or lead-based paint hazards
(check one below):
Known lead-based paint and/or lead-based paint hazards are
present in the housing unit (explain)
X Seller has no knowledge of lead-based paint and/or lead-based
paint hazards in the housing unit.
(b) Records and reports available to the Seller (check below):
X Seller has provided the purchaser with all available records and
reports pertaining to lead-based paint and/or lead-based paint
hazards in the housing unit (list documents)
Seller has no reports or records pertaining to lead-based paint
and/or lead-based paint hazards in the housing unit.
Buyer's Acknowledgment (Initial)
_X (c) Purchaser has received copies of all information above.
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X (d) Purchaser has received the pamphlet Protect Your Family from
Lead in your Home
(e) Purchaser has (check one below):
X Received a 10-day opportunity (or mutually agreed upon period) to
conduct a risk assessment or inspection for the presence of lead-
based paint and/or lead-based paint hazards; or
Waived the opportunity to conduct risk assessment or inspection for
the presence of lead-based paint hazards.
(f) Agent has informed Seller of the Seller's obligations under 42
U.S.C.4852 (d) and is unaware of his/her responsibility to ensure
compliance.
29. PROPERTY IS SOLD "AS IS, WHERE IS". Except as otherwise provided in this
Contract, the Seller does not make any warranty or representation regarding the title to
the Property except as to any warranties in the other instruments to be delivered by
Seller at Closing in accordance with this Contract, and Seller does not make any
representation or warranty either expressed or implied regarding condition, operability,
safety, fitness for intended purpose, use, governmental requirements, development
potential, utility availability, legal access, economic feasibility or any other matters
whatsoever with respect to the Property. The Buyer specifically acknowledges and
agrees that the Seller shall sell and Buyer shall purchase the Unit on an "AS IS,
WHERE IS, AND WITH ALL FAULTS" basis and that, except for the Seller's
representations and warranties specifically set forth in this Agreement, Buyer is not
relying on any representations or warranties of any kind whatsoever, express or implied,
from Seller, or its respective agents, officers, or employees, as to any matters
concerning the Property including, without limitation, any matters relating to (1) the
quality, nature, adequacy, or physical condition of the Property,(2) the quality, nature,
adequacy or physical condition of soils, fill, geology, or any groundwater, (3) the
existence, quality, nature, adequacy or physical condition of utilities serving the
Property, (4) the Property's value, use, habitability, or merchantability, (5) the fitness,
suitability, or adequacy of the Property for any particular use or purpose, (6) the zoning
or other legal status of the Property, (7) the compliance of the Property or its operation
with any applicable codes, laws, rules, regulations, statutes, ordinances, covenants,
judgments, orders, directives, decisions, guidelines, conditions, or restrictions of any
governmental or quasi-governmental entity or of any other person or entity, including,
without limitation, environmental person or entity, including without limitation,
environmental laws, (8) the presence of hazardous materials or any other hazardous or
toxic matter on, under, or about the Property or adjoining or neighboring property, (9)
the freedom of the Property from latent or apparent defects, (10) peaceable possession
of the Property, (11) environmental matters of any kind or nature whatsoever relating to
the Property, (12) any development order or agreement, or (13) any other matter or
matters of any nature or kind whatsoever relating to the Property or any improvements
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located near, adjacent to, or thereon. Seller shall have no obligation to repair, replace,
or remediate the Property, or any portion thereof, Buyer understands that the Property
is sold and conveyed "AS IS."
30. GOVERNING AND VENUE: Buyer certifies that Buyer is executing this Contract
while in the State of Florida of Buyer's own volition and that this purchase was not
solicited either by telephone or mail in another state. This Contract shall be construed
under and interpreted according to the laws of the State of Florida, and venue with respect
to any litigation arising hereunder shall be Palm Beach County, Florida.
31. NOTICES: Except as otherwise provided in Paragraph 4.1 of this Contract, all
notices and other communications required or permitted to be given under or in connection
with this Contract shall be in writing, and shall be deemed given to Buyer when hand
delivered to Buyer (which includes but is not limited to delivery by courier or Federal
Express), or when deposited in the United States mail, postage prepaid, return receipt
requested, addressed to Buyer at Buyer's mailing address as set forth in this Contract,
and shall be deemed given to Seller when deposited in the United States mail, postage
prepaid, return receipt requested, addressed to Seller at its address set forth in this
Contract, or to such other address as either Seller or Buyer shall designate by notice in
accordance with this Subparagraph.
32. CAPTIONS: The captions contained herein are included solely for the convenience
of the Parties and do not, in any way, modify, amplify or give full notice of any of the terms,
covenants, or conditions of this Contract.
33. WAIVER: Seller's waiver of any condition or provision of this Contract shall not be
construed as a waiver of any other application of that same condition or provision, nor as a
waiver of any other condition or provision herein.
34. INTERPRETATION: This Contract shall be construed and interpreted in
accordance with Florida law and shall not be more strictly construed against one Party,
than against the other by virtue of the fact that it may have been physically prepared by
one Party or by its attorneys, both Parties (and their respective attorneys, where
applicable) having participated in the negotiation of this Contract.
35. TIME OF ESSENCE: Time is of the essence with respect to Buyer's performance
hereunder, except where otherwise specifically provided for herein. Any reference in this
Agreement to the time periods of less than six (6) days, shall in the computation thereof,
exclude Saturdays, Sundays and legal holidays. Any reference in the Agreement to time
periods of six (6) days or more shall, in the computation thereof, include Saturday,
Sundays and legal holidays. If the last day of any such period is a Saturday, Sunday or
legal holiday, the period shall be extended to 5:00 P.M. on the next full business day.
36. SUCCESSORS AND ASSIGNS: This Contract shall be binding upon and shall
inure to the benefit of the respective heirs, personal representatives, successors and
assigns of the Parties hereto. This Contract may not be assigned by Buyer.
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37. PARTIAL INVALIDITY: In the event any term or provision of this Contract is
determined by appropriate judicial authority to be illegal or otherwise invalid, such
provision shall be given its nearest legal meaning, or be construed as deleted as such
authority determines, and the remainder of this Contract shall be construed to be in full
force and effect.
38. BROKER COMMISSION: Buyer and Seller hereby represent and warrant that
each has not dealt with a real estate broker in this transaction. Buyer agrees to hold
Seller harmless from any claim or demand for commissions made by or on behalf of any
broker or agent of Buyer in connection with this transaction.
39. COUNTERPART: This Contract may be executed in any number of counterparts,
each of which, when executed and delivered, shall be an original, but such counterparts
shall together constitute one and the same instrument.
40. FURTHER ASSURANCES: The Parties agree to execute all future instruments
and take all further action that may be reasonably required by any Party to fully effectuate
the terms and provisions of this Contract and the transactions contemplated herein.
41. NOT BINDING: This Agreement shall not be binding on Seller until executed by the
Mayor of the City of Delray Beach, Florida.
42. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten
provisions shall control all printed provisions of Contract in conflict with them.
IN WITNESS WHEREOF, the Parties have executed this Contract on the dates set
forth under their respective signatures.
CITY OF DELRAY BEACH, FLORIDA Patricia A. Green
By: By:
Cary D. Glickstein, Mayor Date Print Name: Date
ATTEST:
By:
City Clerk Print Name: Date
Approved as to Form: ATTEST:
City Attorney
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This instrument prepared by and return to:
City of Delray Beach Neighborhood Services Division
100 NW 1St Avenue
Delray Beach, Florida 33444
LAND USE RESTRICTION AGREEMENT
AND DEED RESTRICTIONS
FOR: CITY OF DELRAY BEACH NEIGHBORHOOD STABILIZATION PROGRAM
THIS LAND USE RESTRICTION AGREEMENT AND DEED RESTRICTIONS
(hereinafter Agreement) is made and entered into by and between the City of Delray
Beach, a City existing by and under the laws of the State of Florida (hereinafter referred
to as the "City") and Patricia A. Green (hereinafter referred to as the "Owner").
RECITALS
WHEREAS, the Owner owns certain land described in Attachment "A" attached
hereto and incorporated herein by reference, hereinafter referred to as the "Property";
and
WHEREAS, Owner is the beneficiary of Neighborhood Stabilization Program
Funds pursuant to an Agreement between State of Florida, Department of Economic
Opportunity and City dated the 5th day of February, 2010; and
WHEREAS, the Owner has agreed to comply with certain use restrictions as a
beneficiary of said Agreement; and
WHEREAS, the City has provided Neighborhood Stabilization Program funding
for the acquisition, rehabilitation and resale of the property located at 510 SW 14th
Avenue, Delray Beach, Florida 33444.
NOW, THEREFORE, in consideration of the above premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. The Property may only be used by Owner and any subsequent Eligible
Buyer, as defined herein, as a primary, owner occupied dwelling. Owner agrees to sell
the Property only for use as a primary residence to an Eligible Buyer. The Property shall
be required to maintain as an owner-occupied residential Property for a minimum of 15
years from the date of Owner's purchase. This use restriction as a primary residence
shall be recited and contained in any instrument of transfer or conveyance. An "Eligible
Buyer" is a household who qualifies as either a Low Income Household or Moderate
Income Household.
2. Low Income Household) — A Household with a gross, combined income
between 61% and 80% of the Palm Beach County Adjusted Median Income (as defined
by the Florida Housing Finance Corporation) as published more specifically in the
"Income Limits Florida Housing Finance Corporation CWHIP Homeownership Program"
table for West Palm Beach — Boca Raton HMFA (Palm Beach) area
3. Moderate Income Household— A Household with a gross, combined
income between 81% and 120% of the Palm Beach County Adjusted Median Income
(as defined by the Florida Housing Finance Corporation) as published more specifically
in the "Income Limits Florida Housing Finance Corporation CWHIP Homeownership
Program" table for West Palm Beach — Boca Raton HMFA (Palm Beach) area.
4. Owner covenants and agrees that Owner will not lease, transfer, convey
or encumber the Property without the written consent of the City while the restrictions
provided herein remain in effect.
5. If Owner defaults in the performance of any obligation under the Mortgage
and Note dated or restrictions set forth herein, and if such default remains uncured for a
period of one hundred twenty (120) days after written notice thereof has been given by
City, City shall be entitled to apply to any court having jurisdiction of the subject matter
for specific performance of this Agreement, for the appointment of a receiver or
successor to take over and operate the Property in accordance with the terms of this
Agreement, or for such other relief, including monetary, as may be appropriate and as
such court deems just, equitable, and reasonably required to effectuate the terms of this
Agreement.
6. Owner represents and warrants to City:
a. Owner has validly executed this Agreement and the same constitutes
the binding obligation of the owner. Owner has full power, authority
and capacity to enter into this Agreement, to carry out the Owner's
obligations as described in this Agreement, and to assume
responsibility for compliance with all applicable local, state, and
federal rules and regulations.
b. To the best of Owner's knowledge, the making of this Agreement and
the Owner's obligations hereunder:
i. will not violate any contractual covenants or restrictions between
Owner or any third party, or affecting the Property;
ii. will not conflict with any of the instruments that create or
establish Owner's authority;
iii. will not conflict with any applicable public or private restrictions;
iv. do not require any consent or approval of any public or private
authority which has not already been obtained; and
v. are not threatened with invalidity or unenforceability by any
action, proceeding, or investigation, pending or threatened, by or
against Owner without regard to capacity, any person with whom
Owner may be jointly or severally liable, or the Property or any
part thereof.
c. There is no litigation pending or proceeding known or, to the best of
Owner's knowledge, threatened against Owner which, if adversely
determined, could individually or in the aggregate have an adverse
2
affect on title to or the use and enjoyment or value of the Property, or
any portion thereof, or which could in any way interfere with the
consummation of this Agreement.
d. There is not pending or, to Owner's best knowledge, threatened
against Owner any case or proceeding or other action in bankruptcy,
whether voluntary or otherwise, any assignment for the benefit of
creditors, or any petition seeking reorganization, arrangement,
composition, readjustment, liquidation, dissolution, or similar relief for
Owner under any present or future federal, state, or other statute, law,
or regulation relating to bankruptcy, insolvency, or relief from debtors.
7. Notices required to be given by this Agreement shall be in writing, by
certified mail through the United States Postmaster, with copies to be mailed as set
forth below. Required certified mail shall also have return receipt requested, addressed
to the persons and places specified for giving notice below. Revisions to the names or
addresses of those parties to receive notice may be made by either party by providing
notice to the other party as provided herein. This in no way impacts the requirement to
provide notice to the City of Delray Beach City Commission and to the City Attorney in
the manner outlined above.
Notice shall be forwarded to the following:
For the City: Mayor
City of Delray Beach
100 NW 1 st Avenue
Delray Beach, Florida 33444
With copies by U.S. mail to: City of Delray Beach
Neighborhood Service Administrator
Neighborhood Services Division
100 NW 1 st Avenue
Delray Beach, Florida 33444
Director
Community Improvement Department
100 NW 1 st Avenue
Delray Beach, Florida 33444
For the Owner: Patricia A. Green
510 SW 14th Avenue
Delray Beach, Florida 33444
8. The Owner and City agree that both parties have played an equal and
reciprocal part in the drafting of this Agreement and, therefore, no provisions of this
Agreement shall be construed by any court or other judicial authority against any party
hereto because such party is deemed to have drafted or structured such provisions.
3
9. This Agreement shall be construed, and the rights and obligations of the
City and Owner hereunder shall be determined, in accordance with the laws of the State
of Florida. Venue for any litigation pertaining to the subject matter hereof shall be
exclusive in Palm Beach County, Florida, unless prohibited by law.
10. In any litigation between the parties hereto arising out of this Agreement,
the prevailing party shall be entitled to recover all fees and costs incurred in such
litigation, including reasonable attorneys' fees, through appeal if necessary.
11. This Agreement shall be recorded in the Public Records of Palm Beach
County, Florida, by the City at the expense of the City subsequent to the closing of the
sale to the Owner from the Developer. This Agreement shall run with the land and shall
be binding on both parties, their heirs, successors, and assigns upon recording.
Certified copies of the recorded documents shall be provided to the Owner within ten
(10) days of receipt of the recorded Agreement.
IN WITNESS WHEREOF, the Owner has read and understands the terms set
forth and agrees to meet the obligations contained herein by execution of this
agreement, in duplicate, this.
WITNESSES OWNER
By:
Print Name: Patricia A. Green
Title: Homeowner
By:
Print Name:
Phone Number:
Date:
ATTEST: CITY
CITY OF DELRAY BEACH, FLORIDA
by and through its City Commission
By: By:
City Clerk Mayor
Date of Execution:
4
Attachment A
Real property located at 510 SW 14t" Avenue, Florida 33444 generally described as:
Lot 23, Block 3, CARVER PARK, ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 27, PAGE 55 OF
THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA
5
Exhibit"A"
CITY OF DELRAY BEACH
NEIGHBORHOOD STABILIZATION PROGRAM
PROMISSORY NOTE
For Value Received, on this day of 2015 the undersigned property owner (s),hereafter
referred to as the GRANTEE,promises to pay to the City of Delray Beach, Florida,hereafter referred to as the
GRANTOR,the principle sum of $ payable at:
The City of Delray Beach
Neighborhood Services Division
100 Northwest 1st Avenue
Delray Beach,Florida 33444
or at such other place as may be designated by the GRANTOR.
This NOTE evidences a grant by the GRANTOR to the GRANTEE for the exclusive purpose of purchase
assistance of real estate of which I am the owner and occupant,commonly addressed as 510 SW 141h Avenue
Delray Beach,FL 33444 and legally described as:
Lot 23,Block 3,CARVER PARK,ACCORDING TO THE PLAT THEREOF,AS
RECORDED IN PLAT BOOK 27, PAGE 55 OF THE PUBLIC RECORDS OF
PALM BEACH COUNTY,FLORIDA
(hereafter referred to as the PROPERTY).
This NOTE is hereby secured as a Neighborhood Stabilization Program (NSP) property lien as of the above
date herein in favor of the GRANTOR on the above referenced PROPERTY,and shall be recorded in the Public
Records of Palm Beach County.
The GRANT amount of this NOTE shall be the full amount of the GRANT (no interest charge). The entire
GRANT amount will be due in full at the time of the sale or transfer of the property. Sale or transfer includes
the sale or divestiture of equitable ownership of the property, through land sales contracts or similar
mechanisms.
The failure of the GRANTOR to exercise any of its rights or options under this NOTE shall not constitute a
waiver of the right to exercise the same in the event of any subsequent occurrence add/or default.
The GRANTEE hereby further covenants and agrees to pay promptly when due the sum of money provided
for in said note,and to pay all the singular taxes,assessments,levies liabilities,obligations,and encumbrances
of every nature on said property; to permit, commit or suffer no waste, impairment or deterioration of said
land or the improvements thereon at any time; to keep the buildings now or hereafter on said land fully
insured in a sum not less than full insurable value in a company acceptable to the GRANTOR, the policy or
policies to be held by, and payable to, said GRANTOR, and in the event any sum or money becomes payable
by virtue of such insurance the GRANTOR shall have the right to receive such and apply the same to the
indebtedness hereby secured,accounting to the GRANTEE to promptly and fully comply with the agreements,
stipulations, conditions and covenants set forth in said NOTE and may pay the same, without waiving or
affecting the option to foreclose or any other right hereunder.
If any sum of money herein referred to be not promptly paid within 15 days next after the same becomes due,
or if each and every agreement, stipulations,conditions and covenants of said NOTE are not fully performed,
complied with and abided by, then the entire sum mentioned in said NOTE, or the entire balance unpaid
thereon, shall forthwith or thereafter, at the option of the GRANTOR, become due and payable, anything in
said NOTE or herein to the contrary notwithstanding. Failure by the GRANTOR not to exercise any of the
rights or options herein provided shall not constitute a waiver of any rights or options under said NOTE
accrued or thereafter accruing.
This NOTE may be satisfied and be released by the GRANTOR on the day of The
anniversary date shall be the First Day of Month,in each year from the date which the grant was issued.
The GRANTEE,agrees that if during the appropriate period,Grantee sells,or transfers the property,except to
pay for major health care expenses or by inheritance at death,then the GRANTEE shall repay to the City the
full grant award. The GRANTOR shall determine on a case-by-case basis whether "major" health care
expenses have been incurred by the GRANTEE.
All loan awards will be secured with a second mortgage/promissory note.Recapture terms are as follows:
• Assistance in the amount of$15,000 or less will require a 5 year non-amortizing mortgage.
• Assistance in the amount of$15,000.01440,000 will require a 10 year non-amortizing mortgage.
• Assistance in the amount of$40,000+will require a 15 year non-amortizing mortgage.
• Assistance in purchasing newly constructed homes will require a 20 year non-amortizing mortgage.
Repayment of the full loan award will be immediately due to the Grantor in the event any"qualifying
event(s)"occur prior to expiration of the note.Qualifying event(s)are considered to be:
• Sale of unit or transfer of title
• Assisted homeowner fails to continuously occupy the home
• Unit is rented
• Unit is refinanced without prior authorization of the Grantor.
If assisted homeowner does not trigger any of the above mentioned qualifying events prior to the expiration
of the note, the loan is totally forgiven. In the event the homeowner wishes to refinance his or her first
mortgage or take out an equity loan to make repairs or improvements, the request must be in compliance
with the City's subordination policy.
During the term of this NOTE the GRANTEE shall make no payments of principal, provided however, that if
the GRANTEE shall be in default of any of the terms or conditions of this lien,then the full grant award shall
become immediately due and payable upon demand of the GRANTOR.
Any subordination of this NOTE to additional liens or encumbrances of the assignee or successor to the
GRANTEE shall be only upon written consent of the GRANTOR. Such additional liens and encumbrances shall
extend to and include any contract for deed, land contract or other agreement between the GRANTEE and
his/her/their assignee or successor. Such consent to subordinate shall not be unreasonably withheld so long
as the GRANTOR has the necessary assurance,considered acceptable to the GRANTOR,that the provisions of
this lien remain enforceable and are adequately secured by the PROPERTY.
To ensure and protect its rights in the NOTE and the PROPERTY,the GRANTOR shall have the right of access
and inspection of the PROPERTY at reasonable times and with reasonable notice to the GRANTEE.
The GRANTEE,or his/her/their personal representative in the event of the death of the GRANTEE,shall notify
the GRANTOR of any change in the GRANTEE's name and address,or of any proposed successor or assignee if
the GRANTEE.
In the event of default and/or non-payment of any balance due by the GRANTEE, the GRANTOR may take
such measures as may be lawful to it for the recovery of the indebtedness, including, but not limited to,
foreclosure and sale of the GRANTEE's rights in the PROPERTY and/or the assignment of profits from the
PROPERTY.
2
Each person liable hereon whether maker or endorser,hereby waives presentment,protest,notice of protest
and dishonor and agrees to pay all costs including reasonable attorney's fee,whether suit be brought or not,
if, after maturity of this NOTE or default hereunder, or under said lien, counsel shall be employed to collect
this note or to protect the security of said lien.
Upon satisfactory completion of all terms and conditions of this NOTE by the GRANTEE or upon payment of
any and all balances due, the GRANTEE shall be entitled to a release and satisfaction of this lien by the
GRANTOR.
This NOTE has been made and delivered in the State of Florida, and this NOTE shall be constructed in
accordance with the laws of the State of Florida.
Any notice of one party to the other shall be in writing to the parties as follows:
Grantor: City of Delray Beach
Neighborhood Services Division
100 Northwest 1st Avenue
Delray Beach,Florida 33444
(561) 243-7280
Grantee: Patricia A.Green
510 SW 14th Avenue
Delray Beach,FL 33444
The terms and conditions of this NOTE are mutually binding on the GRANTOR and GRANTEE until such time
as the NOTE is satisfied by the GRANTEE and released by the GRANTOR.
Grantee: Grantee:
Print Name Print Name
STATE OF COUNTY OF
The foregoing instrument was acknowledged before me,
this day of 20 ,by
who personally appeared(known)to me or who has produced
,as identification and who did not take an oath.
Signature of Person Taking Acknowledgement Stamp and Serial No.
(Notary)
Name Typed,Printed or Stamped(Notary) Seal
3
RESOLUTION NO. 27-15
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO SELL
REAL PROPERTY IN PALM BEACH COUNTY, FLORIDA, AS
DESCRIBED HEREIN, HEREBY INCORPORATING AND ACCEPTING
THE CONTRACT STATING THE TERMS AND CONDITIONS FOR
THE SALE AND PURCHASE BETWEEN THE BUYER AND THE CITY
OF DELRAY BEACH, FLORIDA.
WHEREAS, the City of Delray Beach, Florida, wishes to sell property located at 510 SW 14`h Avenue;
and
WHEREAS, the Buyer hereinafter named desires to buy the property hereinafter described from the
City of Delray Beach, Florida; and
WHEREAS, it is in the best interest of the City of Delray Beach, Florida, to sell said property to be
used for single family homeownership.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the City Commission of the City of Delray Beach, Florida, as Seller, hereby agrees to
sell to Patricia A. Green, as Buyer, for the purchase price of the lesser of One Hundred Fifteen Thousand
Dollars and 00/100 cents ($115,000.00) or bank appraised value, said property being described as follows:
Lot 23, Block 3, CARVER PARK, ACCORDING TO THE PLAT THEREOF,
AS RECORDED IN PLAT BOOK 27, PAGE 55 OF THE PUBLIC RECORDS
OF PALM BEACH COUNTY, FLORIDA
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 as Exhibit"A".
PASSED AND ADOPTED in regular session on the day of , 2015.
ATTEST: MAYOR
City Clerk
THIS A FORGIVABLE MORTGAGE AND THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL
BALANCE DUE UPON MATURITY SHALL BE NO MORE THAN $ 00,000.00, DEPENDING ON THE
TERMS OF THE NOTE, TOGETHER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMENTS
MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE AND THE PROMISSORY
NOTE IF THE MORTGAGOR SELLS OR CONVEYS THE PROPERTY WITHIN xxx MONTHS FROM THE
DATE HEREOF.
RETURN TO:
City of Delray Beach
Neighborhood Services Division
100 NW 1st Avenue
Delray Beach,FL 33444
(Space Above This Line For Recording Data)
THIS MORTGAGE DEED
Executed the day of A.D. 2015 , by_Patricia A. Green,a single woman whose address is
510 SW 14ffi Avenue Delray Beach Florida 33444, hereinafter called the mortgagor, to the CITY OF DELRAY
BEACH, a Florida municipal corporation, as Trustee, whose address is 100 N.W. 1st Avenue, Delray Beach,
Florida 33444,hereinafter called the mortgagee:
(Wherever used herein the terms "mortgagor," and "Mortgagee"include all the parties to this instrument
and the heirs, legal representatives and assigns of the individuals, and the successors and assigns of corporations;
and the term "note"includes all the notes herein described if more than one.)
WITNESSETH, that for good and valuable considerations, and also in consideration of the aggregate sum
named in the promissory note of even date herewith, hereinafter described, the mortgagor hereby grants, bargains,
sells, aliens, remises, conveys and confirms unto the mortgagee all the certain land of which the mortgagor is now
seized and in possession situate in Palm Beach County,Florida,viz:
Lot 23,Block 3, CARVER PARK,ACCORDING TO THE PLAT THEREOF,AS RECORDED IN PLAT BOOK
27,PAGE 55 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY,FLORIDA
THIS SECOND MORTGAGE is expressly made subject to and subordinate to the terms and conditions of the First
Mortgage from the Mortgagor ., its successors and/or assigns, as their interest
may appear,in the original principal amount of$ dated
TO HAVE AND TO HOLD the same, together with the mortgage that the mortgagor is indefeasibly seized of said
land in fee simple; that the mortgagor has good right and lawful authority to convey said land as aforesaid; that the
mortgagor will make such further assurances to perfect the fee simple title to said land in the mortgagee as may
reasonably be required; that the mortgagor hereby fully warrants the title to said land and will defend the same
against the lawful claims of all persons whomsoever; and that said land is free and clear of all encumbrances other
than that certain first mortgage to , its successors and/or assigns, as their interest may
appear, in the original principle amount of$ and this mortgage is not assumable. In the event the
subject property or any interest therein shall be sold, conveyed or in any other manner disposed of, including by
Agreement for Deed,this Mortgage shall become due and payable in full. The Mortgagor further covenants to keep
any senior encumbrances in good standing and to make all payments required thereunder and any default under such
senior encumbrance shall be deemed a default under this mortgage.
THE LENDER consent to any agreement or arrangement in which the first Lender waives, postpones, extends
reduces or modifies any provision of the First Note and the First Mortgage, including any provision requiring the
repayment of money.
IFANYPROVISION of the Promissory Note or the Second Mortgage conflicts with any provision of the First Note
or the First Mortgage,the terms and provisions of the First Note and the First Mortgage shall govern.
IN THE EVENT of a foreclosure or a deed in lieu of foreclosure of the First Mortgage, any provision herein or in
any collateral agreement restricting the use of the Property or restricting the Borrower's ability to sell the Property
shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, including
his/her successors and assigns (other than the Borrower or a related entity or person to the Borrower),receiving title
to the Property through a foreclosure or deed in lieu of foreclosure of the First Mortgage shall receive title to the
Property free and clear from such restrictions. Furthermore, if the First Lender acquires title to the Property
pursuant to a deed in lieu of foreclosure, the lien of this Second Mortgage shall automatically terminate upon the
First Lender's acquisition of title.
PROVIDED ALWAYS,that if said mortgagor shall pay unto said mortgagee the certain promissory note hereinafter
substantially copied or identified to-wit:
See Exhibit"A" attached hereto and made part hereof
and shall perform, comply with and abide by each and every agreement, stipulations, conditions and covenants
thereof,and of this mortgage and the estate hereby created, shall cease,determined and to be null and void.
AND the mortgagor hereby further covenants and agrees to pay promptly when due the principal and interest and
other sums of money provided for in said note and this mortgage, or either; to pay all and singular taxes,
assessments,levies, liabilities, obligations, and encumbrances of every nature on said property;to permit commit or
suffer no waste, impairment or deterioration of said and or the improvements thereon at any time; to keep the
buildings now or hereafter on said land fully insured in a sum of not less than full insurable value in a company or
companies acceptable to the mortgagee, the policy or policies to be held by, and payable to, said mortgagee, and in
the event any sum of money becomes payable by virtue of such insurance the mortgagee shall have the right to
receive and apply the same to the indebtedness hereby secured, accounting to the mortgagor for any surplus; to pay
all costs charges, and expenses, including lawyer's fees and title searches, reasonably incurred or paid by the
mortgagee because of the failure of the mortgagor to promptly and fully comply with the agreements, stipulations,
conditions and covenants of said note and this mortgage, or either; to perform, comply with and abide by each and
every the agreements, stipulations,conditions and covenants set forth in said note and this mortgage or either. In the
event the mortgagor fails to pay when due any tax, assessment, insurance premium or other sum of money payable
by virtue of said note and this mortgage, or either,the mortgagee may pay the same,without waving or affecting the
option to foreclose or any other right hereunder, and all such payments shall bear interest from the date hereof at the
highest lawful rate then allowed by the State of Florida.
IF any sum of money herein referred to be not promptly paid within 15 days next after the same becomes due, or if
each and every agreement, conditions and covenants of said note and this mortgage, or either, are not fully
performed,complied with and abided by,then the entire sum mentioned in said note,and this mortgage,or the entire
balance unpaid thereon, shall forthwith or thereafter, at the option of the mortgagee, become and be due and
payable,anything in said note or herein to the contrary notwithstanding. Failure by the mortgagee to exercise any of
the rights or options herein provided shall not constitute a waiver of any rights or options under said note or this
mortgage accrued or thereafter accruing.
2
THIS IS FORGIVABLE MORTGAGE AND THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL
BALANCE DUE UPON MATURITY SHALL BE NO MORE THAN S 00,000.00, DEPENDING UPON THE
TERMS OF THE NOTE, TOGETHER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMENTS
MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE AND THE PROMISSORY
NOTE IF THE MORTGAGOR SELLS OR CONVEYS THE PROPERTY WITHIN xxx MONTHS FROM THE
DATE HEREOF.
IN WITNESS WHEREOF,the said mortgagor has here unto signed and sealed these presents the day and year first
above written.
Signed, sealed and delivered in the presence of:
Signature of Mortgagor Signature of Mortgagor
Print Name Print Name
Signature of Witness Signature of Witness
Print Name Print Name
STATE OF FLORIDA
COUNTY OF PALM BEACH
I HEREBY CERTIFY that on this day,before me, an officer duly authorized in the State aforesaid and in
the County aforesaid to take acknowledgements,personally appeared , who are
personally known to me or who have produced as identification and who
executed the foregoing instrument and acknowledged before me that they executed the same.
WITNESS my hand and official seal in the County and State last aforesaid this day of
A.D. 2015.
Print Name
Notary Public
(SEAL) State of Florida
My commission expires:
Commission No.:
3
54-rr7 ;r .' �.C(COM SORT f F l J ` - EN-i'INEL -.25F
NOTICE OF INTENT
TO SELL REAL PROPERTY
NOTICE I5 HEREBY�GIVEN that the City of
Delray Beach,Florida,announces its in-
tention to sell the following real property
described as:
Lot 23,Block 3,CARVER PARK,ACCORD-
ING TO THE PLATTHEREOF,AS RECORDED
IN PLAT BOOK 27,PAGE 55 OF THE PUB-
, LIC RECORDS OF PALM BEACH COUNTY,
FLORIDA.
Resolution27-15 of the City Commis-
sion authorizing the sale of real property
Incorporating the terms and conditions
thereof,will be considered at a public
hearing to be held at 7:00 P.M.on
Wednesday,May 20,2015 at Clty Hall,
Commission Chambers,109 N.W.1st Av-
enue,Delray Beach,Florida.
CITY OF DELRAY-BEACH,FLORIDA
Chevelle D.Nutiin,MMC
City Clerk
05/09,05116/2015