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Res No. 28-17
RESOLUTION NO. 28-17 A RESOLUTION OF THE CITY COMMISSION. OF T OF DELRAY BEACH, FLORIDA, AUTHORIZING HE CITY TO SELL, TO BUYER CERTAIN ING THE CITY �BEACH COUNTY, REAL PROPERTY IN PALM HEREBY E FLORIDAA, AS DESCRIBED HEREIN; AND STATING THEE TERMSFURpOSEA SPECIAL WARRANTY DEED AND CONDITIONS THEREOF; AND II FOR OTHER S. lj WHEREAS the Ci 1Y� ty of Delray Beach, Florida " located at 1015 Ivlango Drive "Pro ( City") desires to convey certain ro e pity) to Grav Inc. ("Buyer"); and prop. p rty IWHEREAS, Buyer has r consideration,l requested the City convey its interest in the "Property" Buyer tivi7l pay FOtty-Two Thousand Dollars { �2,00a); and p �y to Buyer an it Y d, in WHEREAS, it is in the best interest of Property to Buyer; and the City of Deltay Beach, Florida, to Convey the il NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMS OF DELRAY BEACH, FLORIDA, AS FOLLOWS; SIGN OF THE CITY ii Sec— dQn L That the Ci agrees to sell City ty Corm fission of the City of Delray Beach, Florida ($42,000) and Other to Grav Inc., as Buyer, for a purchase price of For as Seller, hereby good and valuable consideration; said Property be' Forty -TWO Thousand Dollars mg described as follows: See E"hibit "A" i attached .hereto. j Section 2. That the terms and conditions contained in th thereto between the City of Delray Beach, Florida and e vacant land contract and addendum "B." Grav Inc. are incorporated herein as Exhibit Section That the terms and conditions con of Delray Beach, Florida, and Grav Inc, twined in Special are Incorporated herein Warranty Deed between the City PASSED AND xhibit "C." 4th day of April, 2017. ADOPTED by the City Commission of the City of Delray Beach, Florida, this iI EST: City Clerk MAYOR Vacant Land Contract EXHIBIT "B" -.Realtors 2, and -- rav Inc. ("Buyer") 3 (the "parties") agree to sell and buy on the terms and conditions specified below the property ("Property") 4 described as: s• Address: 1015 Mango Drive, Delray Beach, Florida 33444 s* Legal Description:SUNSET PARK DELRAY LT 51 7 8 9 10 11* SEC 20 /TWP 46 IRNG j3 of Palm Beach County, Florida. Real Property iD No.: 12-Q-46-20-16-000-051 12* including all improvements existing on the Property and the following additional property: none noted or known 13 14* 2. Purchase Price: (U.S. currency) ................................... ............................ :................................ $ 42,000.00 15 All deposits will be made payable to "Escrow Agent" named below and held in escrow by: 1s* Escrow Agents Name: Hunt & Gross, P.A 17= Escrow Agent's Contact Person: Scott W. Hoffman, Esq. 18* Escrow Agent's Address: 185 NW Spanish fiver Blvd. 20,ococa Raton, FL 3343T- 19* Escrow Agent's Phone: 561-997-9223 20* Escrow Agent's Email: shoffman@huntgross.com 21 (a) Initial deposit ($0 if left blank) (Check if applicable) 22* Q accompanies offer 23* 19 will be delivered to Escrow Agent within 2 days (3 days if left blank) 24* after Effective Date ... ..................................... ... ....................................... .... I .... I..................... $ 10,000!00 25 (b) Additional deposit will be delivered to Escrow Agent (Check If applicable) 26* Q within _. days (10 days if left blank) after Effective Date 27- © within days (3 days if left blank) after exxpiration of Feasibility Study Period ....... $ 28* (c) Total Financing (see paragraph 5) (express as a dollar amount or percentage) .................. 29* (d) Other: ......... $ so (e) Balance to close (not including Buyer's closing costa, prepaid items, and prorations) 31* to be pard at closing by wire transfer or other Collected funds ........... .................................. $ 32,000,00 32* (f) 11 (Complete only if purchase price will be determined based on a per unit cost instead of a fixed price.) The 33* unit used to determine the purchase price is Q lot 0 acre ❑ square foot 0 other (specify): 34* prorating areas of less than a full unit. The purchase price will be $ per unit based on a 35 calculation of total area of the Property as certified to Seller and Buyer by a Florida licensed surveyor in 38 accordance with Paragraph 7(c). The following rights of way and other areas will be excluded from the 37* calculation: 38 3, Time for Acceptance; Effective Date: Unless this offer is signed by Seller and Buyer and an executed copy 39* delivered to all parties on or before January31, 2017 , this offer will be withdrawn and Buyer's deposit, if 40 any, will be returned. The time for acceptance of any counter offer will be 3 days after the date the counter offer is 41 delivered. The "Effective Date" of this contract is the date on which the last one of the Seller and Buyer 42 has signed or Initialed and delivered this ,offer or the final counter offer. 43• 4, Closing Data, This transaction will close on February 28, 2017 ("Closing Date"), unless specifically 44 extended by other provisions of this contract. The Closing Date will prevail over all other time periods Including, 45 but not limited to, Financing and Feasibility Study periods. However, if the Closing Date occurs on a Saturday, 46 Sunday, or national legal holiday, it will extend to 5:00 p.m. (where the Property is located) of the next business 47 day. In the event insurance underwriting is suspended on Closing Date and Buyer is unable to obtain property 48 insurance, Buyer may postpone closing for up to 5 days after the insurance underwriting suspension Is lifted. If 49 this transaction does not close far any reason, Buyer will immediately return all Seiler provided documents and 50 other items. Buyer(_j and Seller C__j t } acknowledge receipt of a copy of this page, which is t of 7 pages. VAG-10Rev W14 0 Flodds Realtors* SOW. 040105500148-0469916 I II 51 5. Financing; (Check as applicable) 52* (a) CI Buyer will pay cash for the Property with no financing contingency. 53* (b) 0This contract is contingent on Buyer qualifying for and obtaining the commitment(s) or 54* specified below ("Financing") within days after Effective date- (Closing -Date orr 56 days after Effective- Date (6 days if left blank) and will timely provide any and all credit, employment, financial, 57 and other information required by the lender. if Buyer, after using diligence and good faith, cannot obtain the 58 Financing within the Financing Period, either party may terminate this contract and Buyer's deposit(s) will be 59 returned. 60* (1) ❑ New Financing: Buyer will secure a commitment for new third party financing for $ e1• or % of the purchase prlce at (Check one) ❑ a fixed rate not exceeding 21, Q an 62* adjustable interest rate not exceeding °I° at origination (a fixed rate at the prevailing interest rate 63 based on Buyer's creditworthiness if neither choice is selected). Buyer will keep Seiler and Broker fully 64 informed of the loan application status and progress and authorizes the lender or mortgage broker to 85 disclose all such information to Seiler and Broker, 66* (2) ❑ Seller Financing: Buyer will execute a ❑ first ❑second purchase money note and mortgage to 67* Seiler in the amount of $ , bearing annual interest at°lo and payable as 66* follows: 69 The mortgage, note, and any security agreement will be in a form acceptable to Seller and will follow 70 forms generally accepted in the county where the Property is located; will provide for a late payment fee 71 and acceleration at the mortgagees option if Buyer defaults; will give Buyer the right to prepay without 72 penalty all or part of the principal at any time(s) with interest only to date of payment; will be due on 73 conveyance'or sale; will provide for release of contiguous parcels, If applicable; and will require Buyer to 74 keep liability insurance on the Property, with Seller as additional named insured. Buyer authorizes Seller 75 to obtain credit, employment, and other necessary information to determine creditworthiness for the 76 financing. Seiler will, within 10 days after Effective Date, give Buyer written notice of whether or not 77 Seller will make the loan. 78* (3) © Mortgage Assumption: i#uyer will take title subject to and assume and pay existing first mortgage to 79* so* Lid# in the approximate amount of $ currently payable at BI- $ per month, including principal, interest, ❑ taxes and insurance, and having a 82* ❑fixed GJ other (describe) ss* interest rate of % which ❑ will ❑ will not escalate upon assumption. Any variance in the 84 mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 65* purchase Seller's escrow account dollar for dollar. If the interest rate upon transfer exceeds _% or as* the assumption/transfer fee exceeds $_ , either party may elect to pay the excess, 67 failing which this contract will terminate; and Buyer's deposit(s) will be returned. If the lender disapproves ea Buyer, this contract will terminate; and Buyer's, deposit(s) will be returned. 89* 6. Assignabiifty: (Check one) Buyer 0 may assign and thereby be released from any further liability under this 90* contract, D may assign but not be released from liability under this contract, or x❑ may not assign this contract. 91* 7. Title: Seller has the legal capacity to and will convey marketable title to the Property by © statutory warranty 82* deed 0 special warranty deed ❑ other (specify) _ , free of [lens, easements, 93 and encumbrances of record or known to Seller, but subject to property taxes for the year of dosing; covenants, 94 restrictions, and public utility easements of record; existing zoning and governmental regulations; and (list any 95* other matters to which title will be subject) 06 provided there exists at closing no violation of the foregoing. 97 (a) Title Evidence: The party who pays for the owner's title insurance policy will select the closing agent and ss, pay for the title search, including tax and lien search if performed, and all other fees charged by closing agent. ss, Seller will deliver to Buyer, at 100* (Check ane) 0 Seller's O Buyer's expense and 101* (Check one) 0within days sifter Effective Date gat least 10 days before Closing Date, 102 (Check one) 103* (1) Q a title Insurance commitment by a Florida licensed title insurer setting forth those matters to be 104 discharged by Seiler at or before closing and, upon Buyer recording the deed, an owner's policy in the 105 amount of the purchase price for fee simple title subject only to the exceptions stated above. if Buyer is 106 paying for the owner's title Insurance policy and Seiler has an owner's policy, seller will deliver a copy to 107 Buyer within 15 days after Effective Date. Buyer F r -_--__) and Seller C—} (�} acknowledge receipt of a copy ofthls page, which is 2 of 7 pages. VAC -10 Rev 6114 Ofi°rida ROSR°ts* Ssriatli; 04°t°6.5G°148,]483818 51 5. Financing; (Check as applicable) 52* (a) CI Buyer will pay cash for the Property with no financing contingency. 53* (b) 0This contract is contingent on Buyer qualifying for and obtaining the commitment(s) or 54* specified below ("Financing") within days after Effective date- (Closing -Date orr 56 days after Effective- Date (6 days if left blank) and will timely provide any and all credit, employment, financial, 57 and other information required by the lender. if Buyer, after using diligence and good faith, cannot obtain the 58 Financing within the Financing Period, either party may terminate this contract and Buyer's deposit(s) will be 59 returned. 60* (1) ❑ New Financing: Buyer will secure a commitment for new third party financing for $ e1• or % of the purchase prlce at (Check one) ❑ a fixed rate not exceeding 21, Q an 62* adjustable interest rate not exceeding °I° at origination (a fixed rate at the prevailing interest rate 63 based on Buyer's creditworthiness if neither choice is selected). Buyer will keep Seiler and Broker fully 64 informed of the loan application status and progress and authorizes the lender or mortgage broker to 85 disclose all such information to Seiler and Broker, 66* (2) ❑ Seller Financing: Buyer will execute a ❑ first ❑second purchase money note and mortgage to 67* Seiler in the amount of $ , bearing annual interest at°lo and payable as 66* follows: 69 The mortgage, note, and any security agreement will be in a form acceptable to Seller and will follow 70 forms generally accepted in the county where the Property is located; will provide for a late payment fee 71 and acceleration at the mortgagees option if Buyer defaults; will give Buyer the right to prepay without 72 penalty all or part of the principal at any time(s) with interest only to date of payment; will be due on 73 conveyance'or sale; will provide for release of contiguous parcels, If applicable; and will require Buyer to 74 keep liability insurance on the Property, with Seller as additional named insured. Buyer authorizes Seller 75 to obtain credit, employment, and other necessary information to determine creditworthiness for the 76 financing. Seiler will, within 10 days after Effective Date, give Buyer written notice of whether or not 77 Seller will make the loan. 78* (3) © Mortgage Assumption: i#uyer will take title subject to and assume and pay existing first mortgage to 79* so* Lid# in the approximate amount of $ currently payable at BI- $ per month, including principal, interest, ❑ taxes and insurance, and having a 82* ❑fixed GJ other (describe) ss* interest rate of % which ❑ will ❑ will not escalate upon assumption. Any variance in the 84 mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 65* purchase Seller's escrow account dollar for dollar. If the interest rate upon transfer exceeds _% or as* the assumption/transfer fee exceeds $_ , either party may elect to pay the excess, 67 failing which this contract will terminate; and Buyer's deposit(s) will be returned. If the lender disapproves ea Buyer, this contract will terminate; and Buyer's, deposit(s) will be returned. 89* 6. Assignabiifty: (Check one) Buyer 0 may assign and thereby be released from any further liability under this 90* contract, D may assign but not be released from liability under this contract, or x❑ may not assign this contract. 91* 7. Title: Seller has the legal capacity to and will convey marketable title to the Property by © statutory warranty 82* deed 0 special warranty deed ❑ other (specify) _ , free of [lens, easements, 93 and encumbrances of record or known to Seller, but subject to property taxes for the year of dosing; covenants, 94 restrictions, and public utility easements of record; existing zoning and governmental regulations; and (list any 95* other matters to which title will be subject) 06 provided there exists at closing no violation of the foregoing. 97 (a) Title Evidence: The party who pays for the owner's title insurance policy will select the closing agent and ss, pay for the title search, including tax and lien search if performed, and all other fees charged by closing agent. ss, Seller will deliver to Buyer, at 100* (Check ane) 0 Seller's O Buyer's expense and 101* (Check one) 0within days sifter Effective Date gat least 10 days before Closing Date, 102 (Check one) 103* (1) Q a title Insurance commitment by a Florida licensed title insurer setting forth those matters to be 104 discharged by Seiler at or before closing and, upon Buyer recording the deed, an owner's policy in the 105 amount of the purchase price for fee simple title subject only to the exceptions stated above. if Buyer is 106 paying for the owner's title Insurance policy and Seiler has an owner's policy, seller will deliver a copy to 107 Buyer within 15 days after Effective Date. Buyer F r -_--__) and Seller C—} (�} acknowledge receipt of a copy ofthls page, which is 2 of 7 pages. VAC -10 Rev 6114 Ofi°rida ROSR°ts* Ssriatli; 04°t°6.5G°148,]483818 los= (2) Dan abstract of tide, prepared or brought current by an existing abstract firm or certified as correct by an 109 existing firm. However, if such an abstract is not available to Seller, then a prior owner's title policy 110 acceptable to the proposed insurer as a base for reissuance of coverage may be used. The prior policy 111 will Include copies of all policy exceptions and an update in a format acceptable to Buyer from the policy 11s — - — redited-rn- the prior policy andln the update. If such an abstractor prior policy is not available to Seller, 114 then (1) above will be the title evidence. 115* (b) ritle Examination: After receipt of the title evidence, Buyer will, within days (10 days if left blank) 116 but no later than Closing Dale, deliver written notice to Seller of title defects. Title will be deemed acceptable 117 to Buyer, if (I) Buyer fails to deliver proper notice of defects or (11) Buyer delivers proper written notice and 118* Seller cures the defects within days (30 days If left blank) ("Cure Period") after receipt of the notice. It 118 the defects are cured within the Cure Period, closing Will occur within 10 days after receipt by Buyer of notice i2o of such cure. Seller may elect not to cure defects if Seller reasonably believes any defect cannot be cured 121 within the Cure Period. If the defects are not cured within the Cure Period, Buyer will have 10 days after 122 receipt of notice of Sellers inability to cure the defects to elect whether to terminate this contract or accept 123 title subject to existing defects and close the transaction without reduction In purchase price. 124 (c) ' Survey: Buyer may, at Buyer's expense,, have the Property surveyed and must deliver written notice to 125 Seller, within b clays after receiving survey but not later than 5 days before Closing Date, of any 126 encroachments on the Property, encroachmenta by the property's improvements on rather lands, or deed 127 restriction or zoning violations. Any such encroachment or violation will be treated in the same manner as a 128 title defect and Seller's and Buyer's obligations will be determined in accordance with Paragraph 7(b). 12$ (d) ingress and Egress: Seller warrants that the Property presently has ingress and egress. 130 S. Property Comiltion: Seiler will deliver the Property to Buyer at closing In its present "as is" condition, with i31 conditions resulting from Boyers Inspections and casualty damage, if any, excepted. Seller will not engage in or 132 permit any activity that would materially alter the Property's condition without the Buyer's prior written consent. 133 (a) Inspections: (Check (1) or (2)) 134* (1) p Feasibility Study: Buyer will, at Buyer's expense and within 10 days (30 days if left blank) 135 ("Feasibility Study Period") after Effective Date and in Buyer's sole and absolute discretion, determine 136 whether the Property Is suitable for Buyer's intended use. During the Feasibility Study Period, Buyer 137 may conduct a Phase 1 environmental assessment and any other tests, analyses, surveys, and 136 investigations ("Inspections") that Buyer deems necessary to determine to Buyer's satisfaction the 189 Property's engineering, architectural, and environmental properties; zoning and zoning restrictions; 140 subdivision statutes; soil and grade; availability of access to public roads, water, and other utilities; 141 consistency with local, state, and regional growth management plans; availability of permits, government 142 approvals, and licenses; and other inspections that Buyer deems appropriate. if the Property must be 143 rezoned, Buyer will obtain the rezoning from the appropriate government agencies. Seller will sign all 144 documents Buyer Is required to file in connection with development or rezoning approvals. Seller gives 145 Buyer, its agents, contractors, and assigns, the right to enter the Property at any time during the 146 Feasibility Study Period for the purpose of conducting inspections, provided, however, that Buyer, its 147 agents, contractors, and assigns enter the Property and conduct Inspections at their own risk. Buyer will 148 indemnify and hold Seller harmless from losses, damages, costs, claims, and expenses of any nature, 149 including attorneys' fees, expenses, and liability incurred in application for rezoning or related 150 proceedings, and from liability to any person, arising from the conduct of any and all Inspections or any 151 work authorized by Buyer. Buyer will not engage in any activity that could result in a construction lien 152 being filed against the Property without Seller's prior written consent if this transaction does not close, 153 Bayer will, at Buyer's expense, (1) repair all damages to the Property resulting from the Inspections and 154 return the.Property to the condition $ was in before conducting the Inspections and (ii) release to Seller 155 all reports and other work generated as a result of the Inspections. 156 Before expiration of the Feasibility Study period, Buyer must deliver written notice to Seller of Buyer's 157 determination of whether or not the Property is acceptable. Buyer's failure to comply with this notice 156 requirement will constitute acceptance of the Property as suitable for Buyer's intended use in Its "as is" 159 condition. if the Property Is unacceptable to Buyer and written notice of this fact is timely delivered to 160 Seiler, this contract will be deemed terminated, and Buyer's deposit(s) wilt be returned. 161• (;) ❑No Feasibility Study: Buyer Is satisfied that the Property is suitable for Buyer's purposes, including 162 being satisfied that either public sewerage and water are available to the Property or the Property will be 163 approved for the installation of a well and/or private sewerage disposal system and that existing zoning Buyer ) C___.._1 and Seiler iU) {_$ acknowledge receipt of a copy of this page, which is 3 of 7 pages. VAC -10 Rer 9/14 0 Florida Realk rse $erfalM 04t3UM00148,303919 184 and other pertinent regulations and restrictions, such as subdivision or deed restrictions, concurrency, 185 growth management, and environmental conditions., are acceptable to Buyer. This contract is not 188 contingent on Buyer conducting any further investigations. 167 (b) Government Regulations: Changes in govemment regulations and levels of service which affect Buyer 170 171 172 178 174 175 176 177 178 179 180 181• 182 163 184 185 'lbs 187 lag 189 190 491 192+ 193 T94 195, 196 197 198 109 200 201 202 - los 204 246 206 207 208 209 210 211- 212 213 214 215 216 217 218 218 (c) Flood Zone: Buyer is advised to verify by surrey, with the lender, and with appropriate government agencies which Hood zone the Properly is in, whether flood insurance is required, and what restrictions apply to improving the Property and rebuilding in the event of casualty. (d) Coastal Construction Control Line ("CCCL"): If any part of the Property lies seaward of the CCCL as defined in Section 161.053, Florida Statutes, Seller will provide Buyer with an affidavit or survey as required by law delineating the line's location on the Property, unless Buyer waives this requirement in writing. The Property being purchased may be subject to coastal erosion and to federal, state, or local regulations that govern coastal property, including delineation of the CCCL, rigid coastal protection structures, beach nourishment, and the protection of marine turtles. Additional information can be obtained from the Florida Department of Environmental Protection, including whether there are significant erosion conditions associated rAth the shore line of the Property being purchased. CJBuyer waives the right to receive a CCCL affidavit or survey. 9. Closing Procedure; Costs: Closing will take place in the county where the Property is located and may be conducted by mail or electronic means. if title insurance insures Buyer for title defects arising between the title binder effective date and recording of Buyer's deed, closing agent will disburse at closing the net sate proceeds to Seller (in local cashier's check If Seller requests in writing at least 5 days before closing) and brokerage fees to Broker as per Paragraph 19. in addition to other expenses provided in this contract, Seller and Buyer will pay the costs indicated below. (a) Seller Costs: Taxes on deed Recording fees for documents needed to cure title Title evidence (if applicable under Paragraph 7) Other: Real Estate Commission (b) Buyer Costs; Taxes and recording fees on notes and mortgages Recording fees on the deed and financing statements Loan expenses Title evidence (if applicable under Paragraph 7) Lenders title policy at the simultaneous issue rate Inspections Survey Insurance Other: (c) Proratlons: The following items will be made current and prorated as of the day before Closing Date. real estate taxes (including special benefit tax liens Imposed by a CDD), interest, bonds, assessments, leases, and tether Property expenses and revenues. If taxes and assessments for the current year cannot be determined, the previous year's rates will be used with adjustment for any exemptions. (d) Special Assessment by Public Body: Regarding special assessments imposed by a public body, Seller will pay (1) the full amount of liens that are certified, confirmed, and ratified before closing and (!I) the amount of the last estimate of the assessment if an Improvement Is substantially completed as of Effective Date but has not resulted in a lien before closing; and Buyer will pay all other amounts. If special assessments may be paid in Installments, CI Seller p Buyer (Buyer If left blank) will pay installments due after closing, if Seller is checked, Seiler will pay the assessment In full before or at the time of closing. Public body does not include a Homeowners' or Condominium Association. (e) PROPERTY TAX DISCLOSURE SUMMARY., BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHiP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HiGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR FURTHER INFORMATION. Buyer(_ j and Seller (___j (_) acknowledge receipt of a copy of this page, which is 4 of 7 pages. VAC -10 Rev81i4 Serial#: D4CIMMOi4S3453919 0 Florida Realtors' 220 M Foreign Investment In Real Property Tax Act ("FIRPTN ): If Seller is a "foreign person" as defined by 221 FIRPTA, Seller and Buyer will comply with FIRPTA, which may require Seller to provide additional cash at 222 closing. 223 (g) 1031 Exchange. If either Seller or Buyer wish to enter into a like -kind exchange (either simultaneously with 226 however, that the cooperating party will incur no liability or cost related to the Exchange and that the closing 227 will not be oontingent upon, extended, or delayed by the Exchange, 228 10. Computation of Time: Calendar days will be used when computing time periods, except time periods of 5 days 226 or less. Time periods of 5 days or less will be computed without including Saturday, Sunday, or national legal 230 holidays specified in 5 U.S.C. 6103(a). Any time period ending on a Saturday, Sunday, or national legal holiday 231 will extend until 5:00 p,m. (where the Property is located) of the next business day, Time is of the essence In 232 this contract. 233 11. Risk of Loss,, Eminent Domain: If any portion of the Property is materially damaged by casualty before closing 234 or Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain 235 proceedings or an eminent domain proceeding Is initiated, Seiler will promptly inform Buyer. Either party may 236 terminate this contract by written notice to the other within 10 days after Buyer's receipt of Seller's notification, 237 and Buyer's deposit(s) will be returned, failing which Buyer will dose In accordance with this contract and 238 receive all payments made by the governmental authority or insurance company, If any. 239 12. Force Majeure: Seller or Buyer will not be required to perform any obligation under this contract or be liable to 240 each other for damages so long as the performance or non-performance of the obligation is delayed, caused, or 241 prevented by an act of God or force majeure, An "act of God or "force majeuW' is defined as hurricanes, 242 earthquakes, floods, fire, unusual transportation delays, wars, insurrections, and any other cause not reasonably 243 within the control of Seller or Buyer and which by the exercise of due diligence the non-performing party is 244 unable in whale or in part to prevent or overcome. All time periods, including Closing Date, will be extended for 245 the period that the act of God or -force majeure is in place. However, in the event that such act of God or force 246 majeure event continues beyond 30 days, either party may terminate this contract by delivering written notice to 247 the other; and Buyer's deposits) will be returned. 24e 13. Notices: Ail Notices will be in writing and delivered to the parties and Broker by mail, personal delivery, or 249 electronic means. Buyer's failure to timely deliver written notice to Seller, when such notice is required by 250 this contract, regarding any contingency will render that contingency null and void, and this contract Will 251 be construed as if the contingency did not exist. Any notice, document, or item delivered to or received 252 by an attorney orlloensee (including a transactions broker) representing a party will be as effective as If 253 delivered to or received by that party. 254 14. Complete Agreement, Persons Bound: This contract is the entire agreement between Seller and Buyer. 255 Except for brokerage agreements, no prior or present agreements will bind Seller, Buyer, or Broker 256 unless Incorporated Into this contract. Modifications of this contract will not be binding unless in writing, signed 257 or initiated, and delivered by the party to be bound. Electronic signatures will be acceptable and binding. This 2% contract, signatures, initials, documents referenced in this contract, counterparts, and written modifications 259 communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be ' 260 binding. Handwritten or typewritten terms inserted in or attached to this contract prevail over preprinted terms, If 261 any provision of this contract is or becomes invalid or unenforceable, ail remaining provisions will continue to be 262 fully effective. Seller and Buyer will use diligence and good faith in performing all obligations under this contract. les This contract will not be recorded in any public record. The terms "Seller," "Buyer," and "Broker" may be singular 264 or plural. This contract is binding on the heirs, administrators, executors, personal representatives, and assigns, if 265 permitted, of Seller, Buyer, and Broker. Zee 15, Default and Dispute Resolution: This contract will be construed under Florida law. This Paragraph will survive 267 closing or termination of this contract. 268 (a) Seller Default: If Seller fails, neglects, or refuses to perform Seller's obligations under this contract, Buyer 269 may elect to receive a return of Buyer's deposit(s) without thereby waiving any action for damages resulting 270 from Seller's breach and may seek to recover such damages or seek specific performance. Soifer will also 271 be liable for the full amount of the brokerage fee. Buyer &) C__) and Seller (—j f-7 acknowledge receipt of a copy of this page, which Is 5 of 7 pages. VAC -10 ' Rev W14 0 Florida Realtors* SeriaM U01ADI 0148345$916 272 (b) Buyer Default: If Buyer fails, neglects, or refuses to perform Buyer's obligations under this contract, 273 including payment of deposit(s), within the times) specified, Seller may elect to recover and retain the 274 deposit($), paid and agreed to be paid, for the account of Seller as agreed upon liquidated damages, 275 consideration for execution of this contract, and in full settlement of any claims, whereupon Seller and 278 16. Escrow Agent, Closing Agent: Seller and Buyer authorize Escrow Agent and closing agent (collectively 27s "Agent") to receive, deposit, and hold funds and other items in escrow and, subject to Collection, disburse them 280 upon proper authorization and in accordance with Florida law and the terms of this contract, Including disbursing 281 brokerage fees, "Collection" or "Collected" means any checks tendered or received have become actually and 282 finally collected and deposited in the account of Agent. The parties agree that Agent will not be liable to any 283 person for misdelivery of escrowed items to Seller or Buyer, unless the misdelivery is due to Agent's willful 284 breach of this contract or gross negligence. If Agent interpleads the subject matter of the escrow, Agent will pay 285 the filing fees and costs from the deposit and will recover reasonable attorneys' fees and costs to be paid from the 286 escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. 287 17. Professional Advice, Broker Liability: Broker advises Seller and Buyer to verify all facts and representations 288 that are important to them and to consult an appropriate professional for legal advice (for example, interpreting 289 this contract, determining the effect of laws on the Property and this transaction, status of title, foreign investor 290 reporting requirements, the effect of property lying partially or totally seaward of the CCCL, etc.) and for tax, 291 property condition, environmental, and other specialized advice, Buyer acknowledges that Broker does not reside 292 in the Property and that all representations (oral, written, or otherwise) by Broker are based on Seller 293 representations or public records. Buyer agrees to rely solely on Seller, professional Inspectors, and 294 government agencies for verification of the Property condition and facts that materially affect Property 225 value.-6ai(er-epd-Bu�reesrcti�+eiy wll!-pap eii eestsanei euef►ses, at eIH 2ss is�reis,-ir�surraei by-�akeai B&elcef' agents,mad-amp!eyaesRaes#toaa�itta err�r+sing 297Seller and Buyer hold 298 harmless and release Broker and Broker's officers, directors, agents, and employees from all liability for loss or 299 damage based on (t) Seller's or Buyer's misstatement or failure to perform contractual obligations; (ii) the use or 300 display of listing data by third parties, including, but not limited to, photographs, images, graphics, video sot recordings, virtual tours, drawings, written descriptions, and remarks related to the Property; (til) Broker's 302 performance, at Sellees or Buyer's request, of any task beyond the scope of services regulated by Chapter 475, 303 Florida Statutes, as amended, including Broker's referral, recommendation, or retention of any vendor; (Iv) 304 products or services provided by any vendor; and (v) expenses incurred by any vendor. Seller and Buyer each 306 assume full responsibility for selecting and compensating their respective vendors. This Paragraph will not relieve 306 Broker of statutory obligations. For purposes of this Paragraph, Broker will be treated as a party to this contract. 347 This Paragraph will survive closing. 3oa 18. Commercial Real Estate Sates Commission lien Act: If the Property is commercial real estate as defined by Sas Section 475.701, Florida Statutes, the following disclosure will apply: The Florida Commercial Real Estate Sales 310 Commission Lien Act provides that when a broker has earned a commission by performing licensed services 311 under a brokerage agreement with you, the broker may claim a lien against your net sales proceeds for the 312 broker's commission. The broker's lien rights under the act cannot be waived before the commission is earned. 313 19. Brokers: The brokers named below are collectively referred to as "Broker." Instruction to closing agent: 314 Seller and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in 315 separate brokerage agreements with the parties and cooperative agreements between the Brokers, except to the 316 extent Broker has retained such fees from the escrowed funds. This Paragraph will not be used to modify any 317 MLS or other offer of compensation made by Seller or Seller's Broker to Buyer's Broker. 318• (a) Anderson & Garr, Inc. (Seller's Broker) 319• will be compensated by 91Seller p Buyer O both parties pursuant to Ila listing agreement 0 other 320* (specify): 321• (b) N/A ($uyer's Broker) 322* will be compensated by ©Seller p Buyer El both parties o Setter's Broker pursuant to 11 a MLS offer of 323* compensation ❑ other (specify): Buyer QYJ (_} and Seller t_� (} acknowledge receipt of a copy of this page, which is 6 of 7 pages. VAC -10' Revall4 0 Flodds ReaftoW SLUM 9.M785.46614E•3R'�39t® 324• 20. Additional Terms: This contract is contingent upon its approval by the City of Delray Beach Commission. 325 326 :3Z8 329 isC sinter: Angela Gravallese is President of Grav Inc. and is a FloRda Licensed FZ5alfor, but is not expecting a 330 commission on thit Rnsaction. 331 . 33Z 333 334 335 336 337 338 339 340 341 This is intended to be a legally binding contract. If not fully understood, seek the advice of an attorney before 342 signing. 343* Buyer: t�7�'. Date: / 344. Print name: 61 Angela Gravellese, President Grav Inc. 345« Buyer: Elate. 346• Print name: 347 Buyer's address for purpose of notice: 34ax Address: 864 Jeffery Street, Boca Raton, FL 33487 349* Phone: 561-8q 4 00l=ax Email mikegrav@yahoo.com 350* Seller: = Date: 351i Print name: '� f City o nelray Beach 352- Seller; Date: 363- Print name: 354 Seller's address for purpose of notice: 355 Address: 100 NW ?st Avenue, Delray Beach, Florida 33444. 356. Phone: 561-243-7000 Fax: _ 561-243-7199 ., Email: 357- 358 Effective Date: (The date on which the last party signed or Initialed and delivered the final offer or counter offer.) Florida Realtors' and iota! Board/Assoctatlon of RP-ALTORS° maks no representation as to the legal validity or adequacy of any provision of this form In any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and Isnot intended identify the user as a REALTOR'°. REALTOR' is a registered collective membership mark that may be used onl b real esta p sees who are members of the National Association of REALTORS° and who sub ht laws of the United States (17 U.S. Code) forbid the unauthorized reproduction of blank fa g fats! it r computerized forms. � � i'� gA�er art{ 4 }and Seiler �j ( ) acknowledge re t of a cop. f this page w�i7pages. Florida Realtors* 6ertak M105.5001-US3918 i! hV,,//www.pbegov cam/papalA sps/pt'goer ry otaiLTropertootaii.8,.. "So illi #.voatl�Adttrs:iIIlitfiIi�O�€ : } r Municipality DELRlYBEACH. Parcel Control Nun ber 12.43-46.20.16-000-0510 1 Subdivision SVNSEPPARKDF_LRAY1N F 1 i Offiidal Recards'Book 16817 Page 1243 { r Sale Bate MAR -2004 1 Legal Description SUNSET PARK C)Z RAY LT'51 ., h � �Halling address ``; l OwnerslOo 1D> I STAVE LRAY$a aCli CITY OF ` H DELRAYBEACCF 33444 2612 f t ' Sales Date Price Ott Book/Page Sale Type - Owner 1 SEP -200.5 $0 18354 / 061.3 PINAL lUb.GM f,NT MAR -2004 S0 € 1.68171124.3 COUNTY DEEP DELRAY BFACH CITY *OF � . -2003 S0 15666 / D732 WARRANTY DEED PALM BEACH CQUNTY 1 _AUG JAN -1974 $100 02302/0982 WARRANTY DEW ` JAN -1970 $12,500 01821 / 0000 WARRANTY DEED E ExercaptfonAppl!cant/owner Year Detail DELRAY BEACH CITY OF 2016 FULL. MUNIC[PAL GOVtRNMENI t}um6er of Units 0 'Total Square t7 Acres 0 ] 192Feet 1i Use Code 8900 -MUNICIPAL Zoning -I -A • $1n91.e Family Residential { 12-DELRAY _ TaxYear M2015 t{II i. improvement Value S0 S0 SO Land Vaiue 5,30,568 $24,454' SZ3,290 I i Total Marker, Value .530.,568 524;454 $23,2901 Ail values. are as ofj,anuary 1 a each year Tax Year 2076 2015 2414 a �. Assessed Value 526,859 $24,454 S23,290I ; , Exemption Amount 526,8$9 524,454 S23,2901 i Taxable Value. y 50 _ 50 H ;fax Year Ad Valorem 2016 ...,.. _ .415 .50 . _ . 2014 $0 ^ u V SQ Non Ad Valorem $0 50 Sol Total tax $0 SQ Sol 1 1 oft 11116/2016 12:43 FM EXHIBXT "C' This msm=ent prepared by: Scott W. Hotisndn, Esq. Hunt & Gross, PA 185 NW -Spanish -River Blvd.. _Suite 220__ Parcel IDNo. 12-4346-20-16-000-0510 SPECIAL WARRANTY DEED D THIS SPECIAL WARRANTY DEED, executed this day of April, 2017, by CITY OF DELRAY BEACH a Florida municipal corporation, whose post office address is 100 NW Vt Avenue, Delray Beach, FL 33444, GRANTOR., and GRAY INC., a Florida corporation, whose post office address is 864 Jeffery St., Boca Raton, FL 33487, GRANTEE; Witnesseth that said grantor, for .and in consideration of the sum of TEN ANIS N01100 DOLLARS ($10.00) and other good and valuable considerations to said grantor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has granted, bargained, and sold to the said grantee, and grantee's heirs and assigns forever, the following described land, situate, lying and being in Palm. Beach County, Florida„ to -wit: Lot 51, SUNSET PARK, according to the Plat thereof, recorded in Plat Book 12, Page 65, of the Public Records of Palm Beach County, .Florida. Subject to (a) taxes and assessments for the year of closing and subsequent years; (b) zoning, restrictions, prohibitions and other requiirements imposed by governmental authority; and (c) easements, restrictions and other matters of record and/or otherwise common to the subdivision without serving to reimpose same. AND Grantor hereby covenants with Grantee that it is lawfully seized of said land in fee simple; that it has good right and lawful authority to sell and convey said land; that it will warrant and defend the Property against the lawful claims and demands of all persons claiming by, through or under Grantor. {File; 00662096 . ) In Witness Whereof, grantor has hereunto set grantor's hand and seal the day and year first Signed, sealed and delivered in presence of and as to both: Witness Print Name: Witness Print Name: STATE OF FLORIDA COUNTY OF PALM BEACH CITY OF DELRAY BEACH, a Florida municipal corporation By: Print Name: Print Title: The foregoing was subscribed to and acknowledged before me this day of April, 2017, by of the City of Delray Beach, a Florida municipal corporation, on behalf of the City of D elray B each, who [ ] is personally known to me or [ ] has produced as identification. SEAL NOTARY PUBLIC fVize: 00662086 . }