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Res 29-06 RESOLUTION NO. 29-06 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AUTHORIZING THE CITY TO TRANSFER/SELL REAL PROPERTY IN THE CITY OF DELRAY BEACH WHICH PROPERTY IS LOCATED AT 1025 MANGO DRIVE, AS MORE PARTICULARLY DESCRIBED HEREIN, TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC., TO BE UTILIZED FOR AFFORDABLE HOUSING PURPOSES. WHEREAS, the City of Dekay Beach, Florida, desires to transfer/sell property located at 1025 Mango Drive for the purposes of providing affordable housing as part of the Community Land Trust; and WHEREAS, the City acquired the property from the County as the result of unpaid property taxes; and WHEREAS, the City Commission has determined that it is in the best interest of the City of Dekay Beach, Florida, to trans fer/ sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents of the Dekay Beach. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Commission of the City of Dekay Beach, Florida, as Seller, hereby agrees to trans fer/ sell Lot 54, Sunset Park, according to the map or plat thereof as recorded in Plat Book 12, Page 65, Public Records of Palm Beach County, Florida, to the Dekay Beach Community Land Trust, Inc. Section 2. That the terms and conditions contained in the Contract for Sale and Purchase and addenda thereto between the City of Dekay Beach, Florida, and the Buyer as hereinabove named are incorporated herein. ( PASSED AND ADOPTED in regular session on the \ ~ day of-=S-~ 2006. J ATTEST: ~?y~ ~~.~~~ City Clerk 2 RES. NO. 29-06 CONTRACT FOR SALE AND PURCHASE PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, 100 N.W. 1st Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), ("Seller"), and the DELRAY BEACH COMMUNITY LAND TRUST, INC., ("Buyer"), 20 North Swinton Avenue, Delray Beach, Florida 33444 (Phone: 561-276-8640), 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, which INCLUDE the Standards for Real Estate Transactions ("Standard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("Contract"). I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 54, Sunset Park, according to the map or plat thereof as recorded in Plat Book 12, Page 65, Public Records of Palm Beach County, Florida Property Control No. 12-43-46-20-16-000-0540 (b) Street address, city, zip, of the Property is: 1025 Mango Drive, Delray Beach, Florida 33444 II. PURCHASE PRICE $ 10.00 III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before August 1, 2006, the deposit(s) will, at Buyer I s option, be returned and this offer withdrawn. The date of Contract ("Effective Date") will be the date when the last one of the Buyer and the Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. TITLE EVIDENCE: Within thirty (30) days from the Effective Date of this Contract, (CHECK ONLY ONE): _Seller shall, at Seller's expense, deliver to Buyer or Buyer'S attorney; OR ~Buyer shall at Buyer'S expense obtain (CHECK ONLY ONE) : abstract of title or ~title insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's policy of title insurance. V. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered within one hundred twenty (120) calendar days following the execution of this Contract, unless modified by other provisions of Contract. VI. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are to be located contiguous to Real Property lines and not more than 10 feet in width as to the rear or front lines and 7-1/2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money 1 mortgages, if any (if additional items, see addendum); provided that there exists at closing no violation of the foregoing. VII. OCCUPANCY: Seller warrants there are no parties in occupancy other than Seller; Seller shall deliver occupancy of Property to Buyer at time of closing subject to Paragraph XI E. VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten prov~s~ons, riders and addenda shall control all printed provisions of this Contract in conflict with them. IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) _may assign and thereby be released from any further liability. under this Contract; _may assign but not be released from liability under this Contract; or ~ may not assign this Contract. X. DISCLOSURES: (a) Radon is a naturally occurring radioactive gas that, when accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County Public Health unit. (b) Buyer may have determined the energy efficiency rating of the residential building, if any is located on the Real Property. XI. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE X. CITY ITY LAND TRUST, INC. 7-' 3-0 b Date j e-(~ P e..rl tn O-n ~ ("'-6 ( CG- . Date\ 72. LG::JJ ,J;;;E)N By: prin Tax ID No. Sq. ~(50D~O~ Tax ID No. OOZe:) - Lf ( Co ""2... 3 S '- 2 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE SELLER: CITY OF DELRAY BEACH, a Florida municipal corporation BUYER: THE DELRAY BEACH COMMUNITY LAND TRUST, INC. PROPERTY ADDRESS: 1025 Mango Drive, Delray Beach, Florida XI. SPECIAL CLAUSES; ADDENDA (Continued): A. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): The parties shall comply with the provisions of Internal Revenue Code Section 1445 and applicable Treasury Regulations issued thereunder. If the Seller is a U.S. person for Internal Revenue Code Section 1445 purposes, then on demand of the Buyer and prior to closing the Seller shall provide the Buyer with a certificate of non- foreign status in the manner provided in Treasury Regulations Section 1.1445-2. If the Seller provides the Buyer with such certificate, and if the Buyer is otherwise permitted to rely on such certificate under those Regulations, the Buyer shall not withhold under Internal Revenue Code Section 1445. If the Seller is a 'foreign person' as defined by the Internal Revenue Code, the Buyer generally is required to withhold 10% of the gross sales price from the Seller at closing and to pay the withheld amount over to the Internal Revenue Service (IRS) unless an applicable exemption from withholding or a limitation on the amount to be withheld is available. To the extent that the cash to be paid over to the Seller at closing is insufficient to cover the Buyer's withholding obligation, the Seller shall provide to the Buyer at closing cash equal to such excess for purposes of making such withholding payment. If the Seller's federal income tax on the gain is less than the applicable withholding amount, the Seller may make advance application to the IRS for reduced withholding and, if granted, the Buyer shall withhold only the authorized reduced amount. If such ruling has not been received by closing, the parties at closing shall enter into an escrow agreement reasonably satisfactory to the Buyer and Seller pending receipt of the ruling, provided that at closing the Seller shall have the obligation to provide to the escrow agent from the closing proceeds (or from the Seller's other resources if necessary) cash equal to the maximum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires the Buyer and the Seller to have a U.S. federal taxpayer identification number and to supply that number on the foregoing forms. A foreign individual may acquire an International Taxpayer Identification Number for this purpose. Since it may take several weeks to receive the number after application and the IRS will not process these forms without the actual number, a party lacking a TIN is advised to apply immediately. B. The Buyer shall have sixty (60) calendar days within which to conduct any and all feasibility studies and determinations relative to the suitability for the acquisition of the subject property by the Buyer and the Buyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in Buyer's sole discretion, whereupon Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to 3 the premises to conduct such feasibility studies and determinations, including environmental assays, core drilling, surveys, soil sampling and other such testing. C. This Contract is expressly contingent and conditioned upon the approval of the same by the City Commission of the City of Delray Beach. D. The parties represent and warrant that there is no broker involved in this transaction to whom a commission would be due. 4 STANDARDS FOR REAL ESTATE TRANSACTIONS A. EViDENCE or TX~: (l)An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to Real Property recorded in the public records of the county wherein Real Property is located, through Effective Date. It shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract, the abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance commitment issued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's title to Real Property, subject only to liens, encumbrances, exceptions or qualification provided in this Contract and those which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in Contract. Marketable title shall be determined according to applicable Title Standards adopted by authority of The Florida Bar and in 'accordance with law. Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 30 days from receipt of notice to remove the defect(s), failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of deposit (s) paid which shall immediately be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit (sl, thereby releasing Buyer and Seller from all further obligation under this Contract. B. pgaslll\SB IIeNlllr IleallGASB, SBc;g;u;H 1ISNiZISH'I' I!El -.-, A p"rehase meAe) llIer~iJaiJe aAd 1I\erlliJaiJe Aete ~e Eeller shell pre.iae fer a Je da) iJraee periad iA ~he e.enll ef aefa~l~ if a firat llIertiJaiJe aAa a 15 aa) iJreee periad if seeaAd al! leasel! martiJaiJe, ahal1 pre.ide far riiJkt ef prepaymeAt in kale ar iA part ,itha"t peAal~jl shall permit aeeeleretiefl ifl e. ent ef transfer ef the Real P"epert), ekall re'fUi"e all priar lieA aRd ene.....eranees te ae ),el't iR !Jeed staflaifliJ aAd fel'aia medifieatiefls af er f"t""e aa aneee "Aae" p...ier ma...lliJaiJe (s), shall re,,~ire Stile... te ~aifitaifl palietes af insHEaRee eSRtaiAifl~ a staftBara mSFt,a!ee ela~se ee.eFiA~ all i~Fe emefits reeates eA tkc ~eal rf'e!,eEt) a!faiRst: fiE'e aRa all perils iRell:laea . itkin tae teA! "eHtelleleel Be eFaIJ8 BRaeE'SSJfteRta" aRB. stieR ether risJ:s aAd pe"ile as Selle... ilia) reasaAasl) ...e'fUire, in aR aIlIe"R~ e'fUal ta their hiiJkest iAs"...aale .altle/ aAa the mert!JaiJe, na~e aAa seee"i~) aiJreellleRt shall ae ethe" ise iA ferm aAa eanten~ "e'fUi"ed a) Seller, aet Seller 1I\aj eAl) re~ire elaeses eestemaril) fe~Rd iR llIertiJaiJes, ms...tiJaiJe Rates, aAa see"rit) aiJ"eemeRts iJeAe...all) "tilieea a) sa.iAiJ aAa lesR iflsti'luitieRS 81' st:ate BE' P1atieflal eaFlh:s leeates in tfl8 ee1:iRt) ..aeFeiPl Fleal PEBl'e:Et) is leeates. .90.11 reEs8Ral P~epert) aRa leases ~eiRiJ eeR.e)ea er assi!Jne~ uill, at Selle....s sptisA, ae s"ajeet ts the lieft ef a see~rit) a!J...eemeRt e.idelleea a) ...eearaed fiAaAeiRiJ sllatellleftlls. If e aallaeR llIartiJaiJe, t~e final pa)'lllent ill eueeed the ~eFieaie paYRe~~s ~hereen. C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have Real Property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. D. RRMi[RS. Bl:l)er,. a~ BI:1)er's enpefl9E!, rit.ki.a ~ime allel eel ~e selL E~ e.iEleRee af title i!u\a te eHaJRiRe same, 1fLa) ~a e Real Prepert) iAspee~ea a) a rleriaa Certifiea Pest CeAtrel gperater I "9I'e"ate...") te aetermiAe if t~e~e is a~) isie1e aeti.e ~e~ite iftfestatien e~ isiele euieti~, Elamage fEem ~eFffiLte iRfes~ati8R iR the rFa~eFt). If eitaEE ar aeth are fa"Aa, B~je" ill ha.e 1 ~a)s trsm aate af _ritteR Ratiee thereef illaiR ~kiek ta ha e east ef treatmeRt, if re'ltiired, estimatea S) llhe gperslla~ afld all aama!Je inspeetea afta estimalles S) a lieensea a~ilae... ar iJefleral eant"aallsr. Seller shall ~a) alia eests af trea~"eRll aAa repai~ sf all aalllaiJe "p ta the amS~At p...a iaea iA para!Jraph (a) . If esllimatea easts elleeea thall ame"Rt, B") er s;,all aa. e ~he aptiaR af eaAeeliA!J this ~e~traet t~S SB)S afteF reeeipt af eeHt~aeteF's repair estima~e Bj gi ing t.yit~efl Rstiee te &elleE BE BI:1Jer me) eleet te preeee~ lith tae ~FaRsaetieR, aRa Feeei.e a eEeait a~ eleBi~g en the am8RRt ,ye.ides iR Paragzaph (a). "Te~ites" shall ae aeemea lla iReleae all .eea aestra)ifiiJ ar!JaRisms re'fUi...ea te ae ~epe...tea tlRaer the fleiIaa Pest SeRtral Aet, as ameRaed. B. DfGRJI:SS AJU) BGRJ:SS: Seller warrants and represents that there is ingress and egress to' the Real Property sufficient for the intended use as described in Paragraph VI hereof, title to which is in accordance with Standard A. F. ~;, Seller shall, net less thall 15 ea)a aefare elesiRiJ, t"rAish ta B")er espies ef all .ritteR leases alia es~e.pel lett~Ee trem saeh ~eRaRt speeif)LA' t~e Ratl:1Fe aRB aREatisn af tkE te~aflt's eeel:lpaAe), EBRtal Fates, aa aneea "e~t ana eee"rit) aepesits paid a) teflaRt If Selle... is "Rasle te aetaiA s~eh letter fram eaeh ~eAaAt, the same iflfe~atiall shall ae f",,~iehed a) Seller te B"Jer ,ithin llaat tkme perisa in llhe fe~.. af a Seller's affiaa.it, aA~ S~}er ma) thereafter eeRtaet ~eRaRts te e8flfiFm sHeR i~feFmatie~. Selle~ Baall, a~ elesiR~, aBli ez a~a assi~A all eri,inal leases te BH~eE. (;. :LXBNS: Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to Property for 90 days immediately preceding date of closing. If Property has been improved, or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by all general contractors, subcontractors, suppliers, and materialmen in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further affirming that all charges for improvements or repairs which could serve as a basis for a mechanic's lien or a claim for damages have been paid or will be paid at closing of this Contract. B. P:LACB OF CLOSDf(;: Closing shall be held in the county where Real Property is located, at the office of the attorney or other closing agent designated by Seller. I. TDWB: In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided for herein which shall end on Saturday, Sunday or legal holiday shall extend to 5:00 p.m. Df the next business day. ~ima i. o~ the e.sence in this Contract. 5 J. DOCUMEN'l'S FOR CLOS:ING: Seller shall furnish deed, bill of sale, construction lien affidavit, owner's possession affidavit, and corrective instruments. Buyer shall furnish closing statement. It. EXPENSES: Documentary stamps on the deed and recording corrective instruments shall be paid by Seller. Documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, and recording of purchase money mortgage to Seller, deed and financing statements shall be paid by Buyer. Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title or abstract charge, title examination, and settlement and closing fee, shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph IV. L. PRORATXONS; CREOXTS: Taxes, assessments, interest, insurance and other expenses and revenue of Property shall be prorated through day before closing. Buyer shall have the option of taking over any existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through day prior to closing or occupancy if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are completed improvements on Real Property by January 1st of year of closing, which improvements were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration available exemptions. Any tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill. on condition that a statement to that effect is signed at closing. M. SPECXAL ASSESSMENT LXENS: Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered 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. II. IHSPBSI'I9H, IlBPUR J\IGl l~, SelleE' a"Eaflts 'Chat, as ef IS ela}a I'EieE I;e elesing, the eeiH.flg, Eeef liflel..eli"g the faaeia aReI aeffil;s) aael eul;e..ieE aReI i"teEieE .Ialls, feliaelal;ien, sea\lalls (a.. e'!'..i .aleflt) afla eleehage ele flel; ha e all} "ISISLE E'.'IeElICE ef lealEs, ,ater elaJIlage e.. sl;....e'Cli..al eI....age aAeI that the sel'l;ie tan)E, peel, all appliaflees, meeaaAieal items, heatiAIJ, eselia" ele.etEieal, pll:U'RSiP1~ s}stems aRB mael=iil"leJ:) aE'e il"l tJGRKI1JC CQllSITI911. The feEegeiag "arraAI;} sRall ae lilOiteel te tRe itema sl'eeifieel ....lesa e'Chen.ise I'Ee ielea ifl aA aelelenalilll. BH}e~ maj, at Bti)er's enpease, ha.e iflspeetieas mase sf these items S} a firm Sf iRsi.isHal s~eeiali2iR~ in hSffiC i"sl'eetiefi.a alia heleliag an sse"l'a'Ciellal lieefi.ae fSE s..eh I'liEl'eae (if Ee""iEeel) sr ay aa al'l'rel'..iatel} lieeflseel FleEiela eaA'C"aeteE. Saye.. ahall, l'rier ta BIi}er's aeslil'ane} eE nst lesa thaa IS ela}s l'..isr te elasiAg, I.RieRe er ese"Ea fiEat, rel'er'C in ..iting I;a Seller s..sh itema 'Chat ela Ael; meet tAe aea\e s'CaflelaEas as ta aefeeta. gAless B..} e" tilOel) "eI'S""8 8..eh elefesl;s, S"i er shall ae aeemeel te ha e .Iai. eel Selle,,' s "arEal'l1;ies as 'Ce elefeets Aet repsEteel. If !"el'aiEs eE EeplaeemeAt aEe !"e~iEeel 'Ca ea~l) ,itH thia StaRelarel, Eeller shall ea..ae I;He~ ta 13e maae BRei e"all pa} lil' 'Ce tRe Slfte..,,'C pEe. ieleel iA PaEagraph (13). SelleE is Ret re~iEeel ta malEe rel'ai..a ar Feplaee~eAt9 sf a essRetie flat~re ~~le88 ea~sea B) a aef~elleE is FEspensiele te FepaiF SF Feplaee. If tR_ eas~ af slieR Eepai.. aE !"el'laee~eAI; ellseeels the ameliat pEa.ieleel iR Parag!"aph _____ (a), B..}e.. ar Selle!" ~a} eles~ te pa} slieH SlIeeas, failiHg ,hieh ei'CAe!" paEt) lOa} eaReel ~his Csnl;..aet. If Seller is ..aaale te eer..eet the elefeeta p!"iSE ~a elasiag, the east ~he!"eef ahall ae l'aiel ia'Ca eseEe" at elesiHg. Seller sRall, ..peR reasena13le fletiee, pre iee Htilities ear iee a~a aeeess te t~e P~Bpert~ fer i~speetieRS, iRel~aiR~ a 81lt thYe~~h ~FieF te elesiR~, te _eflfiPHl ~ha~ all items af Ps~saAal P~epe~"} aEe aA the Real Prepert} aReI, sli13jeet ta the faregeiRg, that all re'fai..eel ..epai!"s anei !"el'laeems"ts i'la e aeeA maele aRa ti'lat the P!"speEt}, iAel..ailliJ alit flat limitea ts, la fl, slti!'1:lSSeE) BF-a Jlsel, if BFl}, has see.R JIFIaifltaiReei in the eSRaitisl'!. eHislIiR~ as af Effef;1:i e J;1ate:, 8f'aiFl.BF) saE' SPiel tea!" elleepteel. 9. RZS~ QF ~SS, If I;he PEepeE~} is eIaJOagael a) fiEe a!" etaeE eas..alt} aefa..e elasiaiJ BRei east af res~a!"atian aaes Aet eueeee 3\ sf tRe assesses .alYa~ieR sf '(BE rrspert) se aama~es, eest af restsratisR shall ee aA eBli~atieft af the ~elleF ana eleeifl! shall presses p~F9~aflt te Ehe terms sf GSfttraeE [ita FEe~eratieR aests eseFB ea at elesiR~. If the eeal; ef ..estsEa~ie" eusseae ., ef 'CAe aaseaseel .allial;ian af tAe imp..evemeflts se e1smagea, B..)e!" aHal1 Ha e tJll! eptisfil af eit.ke.E ta)ta.~! I?repert) as is, tege'tl=lI::r .lit-k eitF.e~ 'Eke J\ BE aft} iASl:!raRee f3:Eseeeas pa}a-Ble e) irtl:!e sf a~eh less SF ~ama~e, e~ sf eaAeeliR~ CSRtraet aAs Feeei.ing Feti:!rA af ae~ssit(s). P. PROCEEDS or SALE; CLOSrNG PROCEDORB: The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closing date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all deposit(s) shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer and simultaneously with such repayment, Buyer shall return Personalty and vacate Real Property and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fails to make timely demand for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale. If a portion of the purchase price is to be derived from institutional financing or refinancing, requirements of the lending institution as to place, time of day and procedures for closing, and for disbursement of mortgage proceeds shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a written commitment that it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer-mortgagor. The escrow and closing procedure required by this Standard may be waived if title agent insures adverse matters pursuant to Section 627.7841, F.S., as amended. e. . ESSRGW, Aft} eee!"a" a!eRt ("~") !"eeei in! f....e1s aE e,!,aivaleA~ ie a..1;Reriaeel anel a!l"eea 13} aeeeptaflee af th~~ te Bepesi~ ~he~ p~a~tl}, kBls SBffie iA seersr aRa, s~sjeet ts elsaFanee, ai5s~Fse them ifl aeesEsaAee .itA terMS afts eSfle1itisFl.9 af geF1tE'i!.e~ Fail'tlf'e sf e:leaYa:I.ee af f1:i!H:I.S eRal! Fl.S'E eU!!liSe BI:1)er's ~eEfaFJf1.aflee. If ifl aS1:lst as te P!eRt1e 81:!tiee SF li.asili.ties HRser 'ERe pE's.isisflB af ~efltFaet, ~geA'E me), at ~geRt's ept~efl, eeAta.A1:ie te RBIs tR! sl:!sjeet ffia~ter sf the esers 1:i~'Eil 'Ep.e parties keFete agree te its aiss~EsemeAt, BE H~til a jl:!sgffieflt sf a eSi:!f't af eeffi~eteFl.t jI:!Fisa!..e'Eie~ sRall aetePm!..Re tke EigR~e sf t~e ~aEtiee BE ]geflE ~a) aepesit ith tfie eleEh sf the e!Eeait ee~yt kB i~~ j~Eisaietien sf tfie aispl:!te. YpSfi AetifiiRg all paEties eBAeeE~ea sf s~efl aetisfl, all 6 lialoi.liey SR ehe pa"t ef A~eR>1! shall f"ll} 1!e"",iRate, elEeept t03 the elEeeR1! ef aeee"Rtin~ fe" aR} itel1ls I'Ee.ie"sl} aeli e"ea 03,,1; ef eee"e.,. If a lieenseEl "aal astata sEel,a", A~aRt will eS"'I'l) .rith p"s isisfls sf Ghapte" 17., ['.1:. , as 8ffiEflsea. ~) 5~it Bet~eeA Ba)eE aHa Seller \Be~e ~~eRt is masa a ~aFtJ Beea~8e sf aeti~~ as ~~eAt hereHflseE, BE iR aA) sait aereiR ~~eflt iflteY~leaas tRe s~bjeet ffiatter af tRe esere , ~~eRt BRall Eses.se EeasBRaale att8~Ae)51 ::~s ~~~ essts ineHr"eEl ith these al1lS"Rts ts se paiEl frsl1I aRa e"t sf the eseEe,ea f"RElS sr e~"i aleRt aRa ehar~ea aRa a.a"aeEl as eSH"t essts iR fa SE sf the p"e ailifl~ part}. The A~eRt shall fist Be liaBle te aR) pare} sr l'erssfI fer misaeli BE) te SHier SF Se.lley af items sl:lsje.et te tais eBSFe , I:1Flless Bl:ieh miaaeli.sF) is al:18 te .illftil BEeBeR af CSRtFaet BF ~EeSB ne~li~e~ee af }!8Rt. R. ATTORNEY FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litigation which, for the purposes of this Standard, shall include Seller, Buyer, and any brokers acting in agency or nonagency relationships authorized by Chapter 475, F.S., as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs, and expenses. S. ~LORB OF ~CE: Except as provided in Paragraph XII, if Buyer fails to perform this Contract within the time specified (including payment of all deposit(s)), the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If, for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of Buyer's deposit(s) without thereby waiving any action for damages resulting from Seller's breach. T. CONTRACT NOT RECORDABLE; PERSONS BOCND; NOTICE: Neither this Contract nor any notice of it shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as if given by or to that party. U. CONVEYANCE: Seller shall convey title to Real Property by statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to the status of Seller, subject only to matters contained in Paragraphs VI and XII and those otherwise accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. V. OTHER AGREEMENTS: No p~ior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the party or parties intended to be bound by it. W. ~IES: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. 7 II II ST. ,~ \ t" ~ "!v~ "f.c-rv " I--- I--- I--- I--- ~ vi I eL I AVENUE o~ ~ ,:::,'v ~ ~ ~ ,,0 ~ v N - ~ y 9TH 9TH CIRCLe aTY Of DELRAY BEACH. FL PLANNING'" ZONING DEPARTNENT -- DIGITAL BASE MAP SYSTEM -- ~ vi Jl= \ I "r:,'i... ~'v S.W. 8TH W > 4: I 0 f- v Z N S.W. 8TH ~ vi II I I ST. EffiHE~=- I ~EffiHECT' ~= . ~ Ul . VI L- STREET w > 4: .......... f- W Ul Z ::> Ul ~~ ~ o ~- 4: ::::> - - STERLING AVENUE w ::> L.-Z J ~ SOUTHRIDGE ROAD I - iE v I r " I I--- ST. - COURT z- o 1---_ Z 3: Ul_ S.E. III ~~~ :n t-- ~ I--- ~ t-- Ul I-- _ S'1"- I-- l- I- l- I- I I ------;- I L-- I <i I--- Cl I--- it1 I-- I--- I- -..J I--- I- IJ/e: ~~ ITn n n "-I N. LONGPORT CIR. l!:l II I f----Lr.J--t.J ~ ~~TON~ U I>-~= ! ~ J H"::;~ f7 I ~ ?~~ o w ::r -'- f-- -' F= C)~. c:i ~ J~ - ---"'4: f--> ~ ::r t'------i Q f-- a: s. LONGPORT CIR. -/ ------J ) ~~ CENTRAL AVE. 7J mHIIJ 1fF=11 {-J "ill" '><NU' , Lu ~ ~a '" J : SWINTON GARorp REIGLE AVENUE I cj w ..: THE PLAZA AT DELRA'r J ~ I J LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. peN: 12-43-46-20-16-000-0540 '" 12-43-46-20-16-000-0550 CONTRACT FOR SALE AND PURCHASE PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, 100 N.W. 1st Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), ("Seller"), and the DELRAY BEACH COMMUNITY LAND TRUST, INC., ("Buyer"), 20 North Swinton Avenue, Delray Beach, Florida 33444 (Phone: 561-276-8640), 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, which INCLUDE the Standards for Real Estate Transactions ("Standard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("Contract"). I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 54, Sunset Park, according to the map or plat thereof as recorded in Plat Book 12, Page 65, Public Records of Palm Beach County, Florida Property Control No. 12-43-46-20-16-000-0540 (b) Street address, city, zip, of the Property is: 1025 Mango Drive, Delray Beach, Florida 33444 II. PURCHASE PRICE $ 10.00 III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before August 1, 2006, the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. The date of Contract (IIEffective Date") will be the date when the last one of the Buyer and the Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. TITLE EVIDENCE: Within thirty (30) days from the Effective Date of this Contract, (CHECK ONLY ONE): ___Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney; OR ~Buyer shall at Buyer'S expense obtain (CHECK ONLY ONE) : abstract of title or ~title insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's policy of title insurance. V. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered within one hundred twenty (120) calendar days following the execution of this Contract, unless modified by other provisions of Contract. VI. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are to be located contiguous to Real Property lines and not more than 10 feet in width as to the rear or front lines and 7-1/2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money 1 mortgages, if any (if additional items, see addendum); provided that there exists at closing no violation of the foregoing. VII. OCCUPANCY: Seller warrants there are no parties in occupancy other than Seller; Seller shall deliver occupancy of Property to Buyer at time of closing subject to Paragraph XI E. VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten prov~s~ons, riders and addenda shall control all printed provisions of this Contract in conflict with them. IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) ___may assign and thereby be released from any further liability under this Contract; ___may assign but not be released from liability under this Contract; or ~ may not assign this Contract. X. DISCLOSURES: (a) Radon is a naturally occurring radioactive gas that, when accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County Public Health unit. (b) Buyer may have determined the energy efficiency rating of the residential building, if any is located on the Real Property. XI. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE X . Date 0"'"6(0(;;-- Date\ LG::JJ ,J;;;E)N CITY OF DELRAY BEACH MMUNITY LAND TRUST, INC. By: Print Name: Tax ID No. Tax ID No. -Z e:) - l.f (Co ""2..... 3 S '- 2 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE SELLER: CITY OF DELRAY BEACH, a Florida municipal corporation BUYER: THE DELRAY BEACH COMMUNITY LAND TRUST, INC. PROPERTY ADDRESS: 1025 Mango Drive, Delray Beach, Florida XI. SPECIAL CLAUSES; ADDENDA (Continued): A. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): The parties shall comply with the provisions of Internal Revenue Code Section 1445 and applicable Treasury Regulations issued thereunder. If the Seller is a U.S. person for Internal Revenue Code Section 1445 purposes, then on demand of the Buyer and prior to closing the Seller shall provide the Buyer with a certificate of non- foreign status in the manner provided in Treasury Regulations Section 1.1445-2. If the Seller provides the Buyer with such certificate, and if the Buyer is otherwise permitted to rely on such certificate under those Regulations, the Buyer shall not withhold under Internal Revenue Code Section 1445. If the Seller is a 'foreign person' as defined by the Internal Revenue Code, the Buyer generally is required to withhold 10% of the gross sales price from the Seller at closing and to pay the withheld amount over to the Internal Revenue Service (IRS) unless an applicable exemption from withholding or a limitation on the amount to be withheld is available. To the extent that the cash to be paid over to the Seller at closing is insufficient to cover the Buyer's withholding obligation, the Seller shall provide to the Buyer at closing cash equal to such excess for purposes of making such withholding payment. If the Seller's federal income tax on the gain is less than the applicable withholding amount, the Seller may make advance application to the IRS for reduced withholding and, if granted, the Buyer shall withhold only the authorized reduced amount. If such ruling has not been received by closing, the parties at closing shall enter into an escrow agreement reasonably satisfactory to the Buyer and Seller pending receipt of the ruling, provided that at closing the Seller shall have the obligation to provide to the escrow agent from the closing proceeds (or from the Seller's other resources if necessary) cash equal to the maximum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires the Buyer and the Seller to have a U.S. federal taxpayer identification number and to supply that number on the foregoing forms. A foreign individual may acquire an International Taxpayer Identification Number for this purpose. Since it may take several weeks to receive the number after application and the IRS will not process these forms without the actual number, a party lacking a TIN is advised to apply immediately. B. The Buyer shall have sixty (60) calendar days within which to conduct any and all feasibility studies and determinations relative to the suitability for the acquisition of the subject property by the Buyer and the Buyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in Buyer's sole discretion, whereupon Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to 3 the premises to conduct such feasibility studies and determinations, including environmental assays, core drilling, surveys, soil sampling and other such testing. c. This Contract is expressly contingent and conditioned upon the approval of the same by the City Commission of the City of Delray Beach. D. The parties represent and warrant that there is no broker involved in this transaction to whom a commission would be due. 4 STANDARDS FOR REAL ESTATE TRANSACTIONS A. EVIDENCE OF TXTLE: (l)An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to Real Property recorded in the public records of the county wherein Real Property is located, through Effective Date. It shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract, the abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance commitment issued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's title to Real Property, subject only to liens, encumbrances, exceptions or qualification provided in this Contract and those which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions Dr qualifications set forth in Contract. Marketable title shall be determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 30 days from receipt of notice to remove the defect(s), failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remOve the defects; or (2) requesting a refund of deposit (s) paid which shall immediately be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit (s), thereby releasing Buyer and Seller from all further obligation under this Contract. B. P!mSB1\.CB ttoNBY }~SJlGBI SB~H ASI1EEt_ 'l'S S-T_, A pblrehase mane} mart~a~e aRe! mart~a~e nets ta Seller sRal1 pra.iae fer a 39 e!a} ~raee periaa iR the e ent af aefa~lt if a firat mart~a~e aRa a IS aa} ~raee periaa if eeeaRa ar leaser mart~a~el shall pra iae far ri~ht af prepaymeRt iR .ffiale ar in part ithaut penalt}1 aRall permit aeeeleratiaR iR e eRt sf traRafer af the Real Prepert) I ahall re'fHire all priar lieR aRa eReUmBranoes ta Be )'lOpt iR ~aaa staRaiR~ aRa farBia maaifieatians af ar fbltblre aa.aRoea >lRaer priar mart~a~e [a) I shall re,!uire Bu}er ta ~aiRtaifl pelieies af iASHYaRe~ eefltaiftiR~ a staHaara M6It~a~ce cla~se ee eFifl~ all impre.cmcRts lec3tea eA the neal Pr8(3-E.Et) at}aiAst fiE"e aRB all !3eril~ i1"leluaea ithiR tHE. teEm "eHt.eflaea as E:Ea~e. EPlaSFSements" ;lAB sl.:icJ=J ether risbs ana perils aa Seller ma) reasaRaaly require, in aR amSblRt e,!blal ta their hi~heat iRsurahle .alble, ana the mart~a~e, nate ana seeurit} a~reeffieRt shall Be ather..ise iR farcm aRa eeAteAt re,!uirea B) Eeller, hut Eeller ma) aAl} require elablaes eblstaffiaril) fauna iR ffiart~a~es, ffiart~a~e nates, aRa seeblrit) a~reemeRts ~IOAerall} ~tili2ea hi sa.iA~ aAa leaR institutiaRs ar atste ar RatiaRsI Banks laeatea iR the eauRt} ..hereiR Real Pf'eperty is laoatea. All ['ersanal Pf'apert) aRa leaaea hein~ eaR.eyea ar assi~Rea Lill, at ElOller's aptisn, he suhjeet ta thlO lieR af a seeurit) a~reelllent e iaeneee! B) f'esaraea finaneiR~ atatemeRts. If a BallaaR ffiart~a~e, the fiRal payment ill euseee! the periaaie paymeRts thereaR. C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have Real Property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. P. HilUIHS, Bu)er, at Bbl}er'S enpeRse, ..ithiR time alla.,ea ta eeli er e.iaeRee af title aRa ta en_iRe saRle, RIa) ha e Real Prspert) inSfleetea h} a FlariEla Certifiea Pest Cantrel Operatar ("9j3eratar"l ta aetermiRe if there is aA) .isiele aeti e terffiite infeatatiaR ar .isihle elEiatiR~ aaRla~e fram teEffiite iRfestatieR iR tRe Prsflert}. If either ar hath are fablRa, Bbl}er ill ha e 1 aa,s fraffi aate af ,ritteR Astiee thereaf ithiR ',hieh ta ha.e east sf treatRleflt, if re~blirea, estilllatea B) the Operatar aRa all aama~e iRspeetea aRa estimatea B} a lieensea B~ile!er ar ~eReral eaRtraetar. Eeller shall pa) .alia easts sf treatmeRt aRa repair af all aama~e blp ta the ameuRt pra.iaea iR Para~raph (al. If eatimatea eaats elEeeea that amabll'lt, B>I)er shall loa e the aptiafl af eaReeliR~ this CaRtraet ~5 aa)s after reeeipt af eaRtraetar's repair eatiffiate h) ~i.iR~ "ritteR Ratiee ta Seller er Bbl)er me) eleet ta praeeea ith the traRsaetiaR, aRa reeei.e a ereeit at elasin~ aR the affiablRt pra.iaea iR Para~raph (a). "Terlllites" ahall he aeelllea ts ineluae all ,.saa aestre)iR~ ar~anisRls re~irea ta Be repartea ~Raer the rrerIaa Pest CaRt reI het, as allleRaea. E. XNGRESS AND EGRESS: Seller warrants and represents that there is ingresa and egress to the Real Property sufficient for the intended use as described in Paragraph VI hereof, title to which is in accordance with Standard A. F. LSASBS. Eeller shall, Rat less th~. IS 8a}B eefare elasiR~, fblrRish ta Bblyer espies af all .ritteR leases aRe! eetappel letters frsRl eaeh teRant speeif}iR~ the natblre aRa a~ratiaR sf the teRaRt's seeblpane), reRtal rates, aa eneeel reRt aRa seeerit) aepasits paia B} teReRt. If Seller ia blRaBle ta aBtaiR SbleR letter fram eaeh teRaRt, the same iRfeEffiatien shall he fblrniahea B} Seller ts Bu,er ,ithiR that time periaa iR the farRl af a Seller's affiaa'it, aAa B~)er RIa) thereafter eeRtaet tenaRts ta eaRfiFffi ableh iRfarmatian. Eeller shall, at elasin~, aeli.er ana aa5i~n all ari~iRal leases ta Bu}er. G. LXENS: Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to Property for 90 days immediately preceding date of closing. If Property has been improved, or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by all general contractors, subcontractors, suppliers, and materialmen in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further affirming that all charges for improvements Dr repairs which could serve as a basis for a mechanic's lien Dr a claim for damages have been paid or will be paid at closing of this Contract. H. 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 Seller. I. TIME: In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided for herein which shall end on Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day. Time is of the essence in this Contract. 5 J. DOCUMEN'l'S FOR CLOSrNG: Seller shall furnish deed, bill of sale, construction lien affidavit, owner's possession affidavit, and corrective instruments. Buyer shall furnish closing statement. K. EXPENSES: Documentary stamps on the deed and recording corrective instruments shall be paid by Seller. Documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, and recording of purchase money mortgage to Seller, deed and financing statements shall be paid by Buyer. Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title or abstract charge, title examination, and settlement and closing fee, shall be paid by the party respunsible for furnishing the title evidence in accordance with Paragraph IV. L. PRORA~IONS; CREDITS: Taxes, assessments, interest, insurance and other expenses and revenue of Property shall be prorated through day before closing. Buyer shall have the option of taking over any existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through day prior to closing or occupancy if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are completed improvements on Real Property by January 1st of year of closing, which improvements were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration available exemptions. Any tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill. on condition that a statement to that effect is signed at closing. H. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered 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. II. :INSPBC'l'XQlf, IlEMJ:R Aim I~KZ. Seller '.arraRts that, as ef HI el.a)s Ilrier te elesiR~, the ee:ilin~, reef (iRelliel.iR!! the faseia afla saffits) afla e"terie" aReI. intelder ..alls, fe"flaatieR, eeaualls (er e"llii.aleRt) aRd aeel'a~e ae net ha. e aRY VISIBLE E"r9EIlCE ef leal,s, \'ate" aama!!e er strliet""al aaRla~e ana tRat the selltie tal'lI" I"eel, all al"l"liaflses, Rleehardeal items, heat in!!, eeelin!!, elect"ieal, 1"1wal;ifllJ s)ste"'s aReI. ",aehifle,,)' are iR tlORKIllC C9N9ITIOIl. The fe"e!!eiR!! 'arraflt; shall Be liRlitea te the ite",s slleeifiea "RIese sther .ise Ilre .iel.eel. iR aR adcleRd"RI. B";e,, ~a), at BIi)eE'S e"l"eRse, ha.e iflsl"eetiefls ",ael.e ef these items B) a fiFll\ er iRcli.idlial speeiali2in~ iR heme iRsl"eetisfls aflel. heldiR~ afl eeelil"atienal liceflse feE s"eh p"rl"ese (if "e"l"ireel.) er B) aR al"prepriatel) lieeRsed rle"ida eefltraeter. BIi)e" shall, prier te BIi)er's seelipafle) sr flSt less thafl 19 da)s Ilrisr te eleeiR!!, ..hiehe.er eeeli"s fi"st, repert ifl ,ritifl!! te Selle" s"eh iteRls that el.s Ret Rleet the abe.e staRel.erds as ts el.efeets. URless BIi) er ti",el) reperts s"eh defests, BIi; er shall Be el.eeRleel. te ha. e wei eel. Seller's .rarranties as ts el.efe"ts Ret reperteel.. If repairs s" "eplaee",eRt are requiree! te eempl) ..ith this Staflaarel., Seller shall ea"se them te Be Rlaae aRd shall pa) "I" te the ame"flt Ilre ie!ee! ifl Para!!raph (B). Seller ie flet re"l"i"ed te ",al,e repairs er re~laeeMeRts ef a eesmetie Ratlire linlees ealieed a; a el.efeetlfeller is respeRsiBle te re~air er replaee. If tll_ eest ef s"eh repair er ..e-plaeeHle"t eneeeels the ame"Rt pre. ie!ee! ifl PaH.!!raph (B), BIi)sr e.. Seller ma) eleet te Ila; s"ell eneess, failifl!! hieh either party Hla) saneel this 8efltraet. If seIIei ie "flaBle te eerreat the el.efeets ~rie" te eleeiR~, the eest the..eef shall ae paid iRte eeare at elseifl!!. Selle" shall, lipeR reaeeRaale Retiee, pre.ie!e litilitiee eel' iee aRd aeeess te the Prepert) fer ifls~eetieRs, iflel"di,,!! a .allt t~"e~~h ~rier te elesiR~, te _enfir", that all items ef rersenal Prel"ert) are an the Real Pra~ert) aRe!, eliajeet te the fere~ei,,~, that all re"!,,iree! repairs and replaeemeRts ha.e BeeR ~ade afle! that tlle Pre~ert;, iRelliel.in!! B"t Ret limited te, la\.n, ellr"Beer) and peel, if afl), has Beefl ",aintaiRed iR the eefle!itie" enistiR!! ae ef Effeeti e Date, erel.iRar) ear aflel. tea" enee~tee!. e. RISK eF LeSS. If the P"epert) is dama~ed BY fire er ether eas"alty Befere elesiR!! afld sest ef reste"atien el.ees "et elleeed 3\ af the aeeeseee! .al"atien ef the P"el"e"t) ee e!ama!!ee!, eeet sf "este"atieR sllall Be aR eeli~atieR ef the ~elle" aRe! elesifl~ shall preeeed ~"..s"aflt te the teEMS af 8entraet lith ..eeteratieR aeste esere..eel. at eleei,,!!. If tAe eest ef reeteratieR elleeeds 3\ ef the aeseesed .alliatiefl ef the imp..e.emeflts se e!a",a!!ee!, B";e,, ellall ha'e the e~tien ef either taldR!! Pre"pert; ae ie, te!!ethe" .tith either the 3\ e" afl) ifleliraflee Ilreeeee!s pa)able B; irtlie ef elish lese er aaRla!!e, er ef eaReeliR~ Cefltraet aRe! reeei,ifl!! ret""fl ef e!epesit(e). P. PROCEEDS OF SALE; CLOSrNG PROCEDURE: The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closing date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all deposit (s) shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer and simultaneously with such repayment, Buyer shall return Personalty and vacate Real Property and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fails to make timely demand for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale. If a portion of the purchase price is to be derived from institutional financing or refinancing, requirements of the lending institution as to place, time of day and procedures for closing, and for disbursement of mortgage proceeds shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a written commitment that it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer-mortgagor. The escrow and closing procedure required by this Standard may be waived if title agent insures adverse matters pursuant to Section 627.7841, F.S., as amended. 2. BSGReW. AR; eserer a!!eRt (.~.I reeei i,,!! f..nds er e"lui:aleRt is a"therieea anel a,rees B) aeee~ta"ee sf tlle", te e!epssit them ~"emptl), halel. eaRle ifl eee..e afla, e"ejeet te elearaRee, e!isB""se theRl iR aeee"e!aRee itR te~ms ana eSflaitisAs sf Centraet. Pail~Ee af eleaEaaee sf fHRSS shall Ret effe~se B~)er's ~EEf6rffiaAec. If iR a6~ht ae te ~~eflt'e eI."ties er liaBilities "flder the Il"e isieRs ef Cefltraet, A!!eRt ma), at A!!ent'e eptieR, eentiR"e ta RBla the s~ajeet mattEE sf tRe eeaLe ~Atil the ~aEtics aerete a~~ee t8 its aisBuFsemcflt, BE ~ntil a juagffiEnt af a ee"..t ef aeRlpeteflt j"risel.ietieR shall deterRli"e the ri~hte ef the parties er ~lJeRt may ae~eeit ith the alerl, ef tlle ei..e"it eelirt ha in~ j"..iee!iatieR sf the e!isp"te. Bpefl netif;iR!! all ~artiee eeRaerfleel. ef sliell aetieR, all 6 liaeilit) eA the part ef 1\lJeAt sRal1 f"ll) teEmiRate, eneept te tile enteRt ef aeee"RtiAlJ fer aR) items pre ie"sl) seli erea e"t ef esere . If a lieeflsea real estate Brel,er, '"'lJeRt ..ill ee"'l'ly lith pre.isieRs ef CFial'ter 17s, F.E. , as aRlenaea. ARt s~it eetreen Bo)er afla Eeller '.Rere A'Jent is Rlaee a part) eeea"se sf aetinlJ as A'JeHt Rere"Heee, ee iA aA) s~it ..heFeiR ~~BRt iBteypleaas the s~jeet matter af taB escrow, ~~eflt shall fees ~er re356RaelE atteERe)S' fees ana eests ine"rrea >lith these aRle~Hts te Be paia freRl aAa e~t ef the esere.ea f~Res er e~~i.aleRt ana eharlJcd aAa a araea as ee~rt essts iH fa er ef the pre.ailiA'J part). The A'JeHt shall flet ae liaBle te aR) part) Br persoR fer Rlisaeli.er} te B")Br ee Eeller ef items s~Bjeet te tRis esere', "RIess soeh misaeli.ee) is alOe te illf..l aEeaeh ef CentEaet eE 'Jeess He'Jli'JeHee ef AlJeflt. R. A7TORNEY FEES; COSTS: In any litigation, including breach, enforcement or interpretation, ar~s~ng out of this Contract, the prevailing party in such litigation which, for the purposes of this Standard, shall include Seller, Buyer, and any brokers acting in agency or nonagency relationships authorized by Chapter 475, F.S., as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs, and expenses. S. FAILURE OF PERFORMANCE: Except as provided in Paragraph XII, if Buyer fails to perform this Contract within the time specified (including payment of all deposit(s)), the depositls) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If, for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of Buyer's deposit(s) without thereby waiving any action for damages resulting from Seller's breach. T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE: Neither this Contract nor any notice of it shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as if given by or to that party. U. CONVEYANCE: Seller shall convey title to Real Property by statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to the status of Seller, subject only to matters contained in Paragraphs VI and XII and those otherwise accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. V. 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. W. W1RRANTIES: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. 7 , i" I ~i '\SS '\ ~ !!.,~ "f.,.,,<;J '" I CI. I o'?J ~ ~ vi ) y 9TH 9TH AVENUE -,0<V ~\\JG"'" ~ ~ ~ ,,0 v~ CIRCLe N - OTY OF OELRAY BEACH. Fl PLANNING de ZON'NG DEPARTMENT -- DIGITAL BASE MAP SYSTEM -- ~ vi -11= \ w ::J L,-Z w > \ l..w... <( S.W. 8TH :r: f- v S.W. I I I I ST. EHffiE~=- I ~EHffiECT. ~= Vl . Ul _ STERLING AVENUE SOUTHRIDGE ROAD I - iE v I J w~- ~ - - ~ - ~ - "-! - Vl - po- 'F- - f- - f- - f- - f- - f- -..I _ f- Ie: - f- fj -f- (} ~ Q:: ~ :;:: p; U <:TON"" >- wI-- ~ ~ J H"::?' L ~ I ?~ = g w ;N I I ::c I-.lc: -. ,.: ;z 0~Q: _0> ~ ILl - <( ~ ::CI, ~Q -ffi S. LONGPORT CIR. I L WILSON AVE. ) J LillfIIH CENTRAL AVE. ~~. EIEIllJ I I H~ COLLINS AVENUE / {-J - w > <( ST. - Z- o f- Z ~ (/) I--- o Z N 8TH COURT ~ vi I--- - I SWINTON GARorp REIGLE A VENUE I I n I S.E. I I (j Cl Q1 lL.J >< 0 6 ... 0 ll: J ..J : c.i THE w PLAZA U:J AT J DELR A r . I I LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. PCN: 12-43-46-20-16-000-05<4-0 de 12-43-46-20-16-000-0550 ,~\ \ [ITY DF DELRAY BER[H CITY ATTORNEY'S OFFICE ~(){) NW 1st AVENUlc' DELRAY BEACH. FLORIDA 33444 TELEPHONE: 56Ii~.L'..7()\)(I' FACSIMILE: 56li~78-4755 Writer's Direct Line: 561/243-7090 DELRAY BEACH F LOR I D A lI.8.d All-America City " II I! DATE: TO: 1993 2001 MEMORANDUM June 8, 2006 FROM: City Commission David T. Harden, City Manager ~ Terrill Barton, Assistant City Attorney SUBJECT: Authorization to Transfer 1025 Mango Drive to the Delray Beach Community Land Trust, Inc. PCN: 12-43-46-20-16-000-0540 Attached to this memorandum please find Resolution No. 29-06, which confirms the City's intent to transfer/sell the property referenced above to the Delray Beach Community Land Trust, Inc. for affordable housing purposes. Also attached please find a Contract for the Sale and Purchase of the above-referenced property. This property was acquired from the County as a result of unpaid taxes. Please place the resolution and supporting documents on the agenda for the July 11,2006 City Commission meeting for consideration. TCB:smk Attachments cc: Chevelle Nubin, City Clerk Lula Butler, Director of Community Improvement \OE RESOLUTION NO. 29-06 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AUTHORIZING THE CITY TO TRANSFER/SELL REAL PROPERTY IN THE CITY OF DELRAY BEACH WHICH PROPERTY IS LOCATED AT 1025 MANGO DRIVE, AS MORE PARTICULARLY DESCRIBED HEREIN, TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC., TO BE UTILIZED FOR AFFORDABLE HOUSING PURPOSES. WHEREAS, the City of Dekay Beach, Florida, desires to transfer/sell property located at 1025 Mango Drive for the purposes of providing affordable housing as part of the Community Land Trust; and WHEREAS, the City acquired the property from the County as the result of unpaid property taxes; and WHEREAS, the City Commission has determined that it is in the best interest of the City of Dekay Beach, Florida, to trans fer/ sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents of the Dekay Beach. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DELRA Y BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Commission of the City of Dekay Beach, Florida, as Seller, hereby agrees to transfer/sell Lot 54, Sunset Park, according to the map or plat thereof as recorded in Plat Book 12, Page 65, Public Records of Palm Beach County, Florida, to the Delray Beach Community Land Trust, Inc. Section 2. That the terms and conditions contained in the Contract for Sale and Purchase and addenda thereto between the City of Dekay Beach, Florida, and the Buyer as hereinabove named are incorporated herein. PASSED AND ADOPTED in regular session on the _ day of 2006. ATTEST: MAYOR City Clerk CONTRACT FOR SALE AND PURCHASE PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, 100 N.W. 1st Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), ("Seller"), and the DELRAY BEACH COMMUNITY LAND TRUST, INC., (" Buyer" ), 20 North Swinton Avenue, Delray Beach, Florida 33444 (Phone: 561-276-8640), 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, which INCLUDE the Standards for Real Estate Transactions ("Standard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("ContractU). I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 54, Sunset Park, according to the map or plat thereof as recorded in Plat Book 12, Page 65, Public Records of Palm Beach County, Florida Property Control No. 12-43-46-20-16-000-0540 (b) Street address, city, zip, of the Property is: 1025 Mango Drive, Delray Beach, Florida 33444 II. PURCHASE PRICE $ 10.00 III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before August 1, 2006, the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. The date of Contract ("Effective Date") will be the date when the last one of the Buyer and the Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. TITLE EVIDENCE: Within thirty (30) days from the Effective Date of this Contract, (CHECK ONLY ONE): ___Seller shall, at Seller's expense, deliver to Buyer or Buyer'S attorney; OR ~Buyer shall at Buyer'S expense obtain (CHECK ONLY ONE): ___abstract of title or ~title insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's policy of title insurance. V. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered within one hundred twenty (120) calendar days following the execution of this Contract, unless modified by other provisions of Contract. VI. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are to be located contiguous to Real Property lines and not more than 10 feet in width as to the rear or front lines and 7-1/2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money 1 mortgages, if any (if additional items, see addendum); provided that there exists at closing no violation of the foregoing. VII. OCCUPANCY: Seller warrants there are no parties in occupancy other than Seller; Seller shall deliver occupancy of Property to Buyer at time of closing subject to Paragraph XI E. VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them. IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) ___may assign and thereby be released from any further liability under this Contract; ___may assign but not be released from liability under this Contract; or ~ may not assign this Contract. X. DISCLOSURES: (a) Radon is a naturally occurring radioactive gas that, when accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County Public Health unit. (b) Buyer may have determined the energy efficiency rating of the residential building, if any is located on the Real Property. XI. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE X . Date <<d "'-6 ( C t;; Date, LG::J, ,J;;;E),-\J CITY OF DELRAY BEACH By: Print Name: pri Tax ID No. OOZe:) - Lf (Co ""2... 3 S '- Tax ID No. 2 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE SELLER: CITY OF DELRAY BEACH, a Florida municipal corporation BUYER: THE DELRAY BEACH COMMUNITY LAND TRUST, INC. PROPERTY ADDRESS: 1025 Mango Drive, Delray Beach, Florida XI. SPECIAL CLAUSES; ADDENDA (Continued): A. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): The parties shall comply with the provisions of Internal Revenue Code Section 1445 and applicable Treasury Regulations issued thereunder. If the Seller is a U.S. person for Internal Revenue Code Section 1445 purposes, then on demand of the Buyer and prior to closing the Seller shall provide the Buyer with a certificate of non- foreign status in the manner provided in Treasury Regulations Section 1.1445-2. If the Seller provides the Buyer with such certificate, and if the Buyer is otherwise permitted to rely on such certificate under those Regulations, the Buyer shall not withhold under Internal Revenue Code Section 1445. If the Seller is a 'foreign person' as defined by the Internal Revenue Code, the Buyer generally is required to withhold 10% of the gross sales price from the Seller at closing and to pay the withheld amount over to the Internal Revenue Service (IRS) unless an applicable exemption from withholding or a limitation on the amount to be withheld is available. To the extent that the cash to be paid over to the Seller at closing is insufficient to cover the Buyer'S withholding obligation, the Seller shall provide to the Buyer at closing cash equal to such excess for purposes of making such withholding payment. If the Seller's federal income tax on the gain is less than the applicable withholding amount, the Seller may make advance application to the IRS for reduced withholding and, if granted, the Buyer shall withhold only the authorized reduced amount. If such ruling has not been received by closing, the parties at closing shall enter into an escrow agreement reasonably satisfactory to the Buyer and Seller pending receipt of the ruling, provided that at closing the Seller shall have the obligation to provide to the escrow agent from the closing proceeds (or from the Seller's other resources if necessary) cash equal to the maximum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires the Buyer and the Seller to have a U.S. federal taxpayer identification number and to supply that number on the foregoing forms. A foreign individual may acquire an International Taxpayer Identification Number for this purpose. Since it may take several weeks to receive the number after application and the IRS will not process these forms without the actual number, a party lacking a TIN is advised to apply immediately. B. The Buyer shall have sixty (60) calendar days within which to conduct any and all feasibility studies and determinations relative to the suitability for the acquisition of the subject property by the Buyer and the Buyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in Buyer's sole discretion, whereupon Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to 3 the premises to conduct such feasibility studies and determinations, including environmental assays, core drilling, surveys, soil sampling and other such testing. C. This Contract is expressly contingent and conditioned upon the approval of the same by the City Commission of the City of Delray Beach. D. The parties represent and warrant that there is no broker involved in this transaction to whom a commission would be due. 4 STANDARDS FOR REAL ESTATE TRANSACTIONS A. EVrDENCE OF TYTLE: (l)An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to Real Property recorded in the public records of the county wherein Real Property is located, through Effective Date. It shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract, the abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance commitment issued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's title to Real Property, subject only to liens, encumbrances, exceptions or qualification provided in this Contract and those which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in Contract. Marketable title shall be determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 30 days from receipt of notice to remove the defect(s), failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of deposit (s) paid which shall immediately be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit (s), thereby releasing Buyer and Seller from all further obligation under this Contract. B. PURGlmSEl IISNKr l"'*lll'SASBI BESlmIll'r ACREI!aISN'J! !llO SBUdm. A l''''Fehase mene) mert'Ja'Je aRe! ..ert'Ja'Je Rete te Seller eaall ~re.ie!e fer a 39 e!a) 'Jraee ~eriee! iR the e.eRt ef e!efa~lt if a first mert'Ja'Je ane! a ls sa) 'Jrase ~eries if seeeRe! er lesser ..ert'Ja'Je, saall ~re ise fer ri'Jht ef ~re~a)~ent iR lhele er iR ~art ..itheut ~eRalt), shall ~er..it aeeeleratieR iR e ent ef traRsfer ef the Real Pre~ert), shall re~ire all ~rier liaR aRs eReHffihra~eae te ae Jte~t iR ~ees staRsin'J aRs ferais mee!ifieatiens ef er fut~re as aneee HRe!er ~rier msrt'Ja'Jelsl, shall re~uire Bu)er te ffiaiRtaiR ~eliei~s sf iR6uEaRse eefitaiRiR~ a 5ta~aaEa ffi8Yt~a~e~ ~lau3c e6.criA~ all im~r6.cmcAts locates 8A the ncal r:E"6~ert) a'3aiRst fiEe ana all peI'ils iRell1aea i tRiA taE. teEfl1. "cHtcFlaea 6e. E.EaEJE! E.Aa.sFSefflE.Flts" 3,1'l.6. 3l:leh ether risJ:s ane! perils as Seller ma) reaeenaBl) re~Hire, in aR ame~Rt e~Hal te their hi'Jhest iRsuraale .alue, aRe! the mert'Ja'Jc, Rete aRe! eee~rit) a'JreemeRt ehall ae ether..iee iR feFffi aRe! seRteRt _e~iree! a) Sellerl aut Celler ma) enl) re~ire elauses euetemaril) feuRe! iR mert'Ja'Jes, mert'Ja'Je nstes, aRe! eeeurit) a'JreemeRts 'JeReFall) utilieee! a) sa.in'J aRa leaR inatitutieRe eF etate er RatieAal BaRIte leeatee! iR the eeuAt) hereiA Real Pre~ert) ie leoatee!. ~ll Persenal PrepeFt) aAe! leaeee aein'J een e)ee! er assi'JAee! dill, at Seller's s~tisn, ae sHajeet te the lieA ef a see~rit) a'JreemeRt e.ie!eReee! ai reeere!ee! fiAaAein'J statemeRts. If a aalleeA mert'Ja'Je, the fiRal paymeRt ill eHeeee! tRe periee!ie paymente thereeA. C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have Real Property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. II. _aRB' B~}er, at BUier's e"~eflse, \ ithiR time allenee! te eleli er e ie!eAee ef title aReI te eHaRliAe same, ..a) ha e ~eal P"e~e"t} inspeetee! B} a Flerie!a Certifiee! Pest CeAtrel Ql'e"ater ["9f3erater"l te seterminB if there is aR) isiale aeti.e termite iAfestatieR sr isiale eHistiA'J e!ama'Je fre.. termite iAfestatieA iA the PrSl'erti. If eitRer er Beth are feuns, BUier rill ha e 1 sa)s frem elate ef ritteA Aetiee the"eef \ ithin IRieh ts ha e eest ef treatment, if "e~~iree!, estimatee! a) the Q~erater ane! all elama'Je iAspeetee! aAa eetimates a) a lieeRBea auile!er sr 'JeReFal eentraeter. Seller shall I'a) .alia essts ef treatmeAt ane! re~air sf all aama'Je up te the ameuflt ~re.iaes ifl l'ara'Jral'h [al. If eetimatee! eeste elEeees that ""'SURt, Bu)er shall ha.e the el'tieA ef eaneelin'J this CeAtFaet ~5 sa)s after reeeil't ef eentraeter's rel'air estimate B) 'Ji.in'J "ritteR Retiee ts Seller sr Bu)er mal eleet ts preeeee! lith the traAsaetisn, aAe! reeei.s a eree!it at elssin~ eA the ameuRt pre.ie!es iA para'Jral'h (a). "Termites" shall Be e!eemee! ts iAeluae all ese! sestre}iA'J sr'JaAisms re~~iree! te as rel'ertee! UAser tRS rIeiIe!a Pest CeRtrsl Aet, as ameAelee!. E. rNGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for the intended use as described in Paragraph VI hereof, title to which is in accordance with Standard A. F. l&UlBB, Celle" shall, Aet less theR 15 aa)s aefsre elssin'J, f~"Aish te Bu)er eeJ'ies ef all "FitteR leases ans estsPl'el letters frem eaeh teRaRt sl'eeif)iR'J the Aature ane! suratisA sf the teRant's ecsu~aAei, rental rates, aa.anees rent aAe! seeuriti e!epssits paie! a) tenant. If Seller is ~flaale te eataiA sueh letter fre.. eaeh tenant, the same iflfeEffiatien shall ae f~rRishea B) Seller ts B~)er lithiA that time !,eriss in the ferm ef a Celler's affiaa.it, aRe! Bu)er mal thereafter eSAtaet teAaAts te esnfi"m sueh iRfermatien. Seller shall, at elesiA'J, seli.er ana assi~R all eri~iAal leases ts BUier. G. LYENS: Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to Property for 90 days immediately preceding date of closing. If Property has been improved, or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by all general contractors, subcontractors, suppliers, and materialmen in addi tion 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 Dr repairs which could serve as a basis for a mechanic's lien or a claim for damages have been paid or will be paid at closing of this Contract. H. PLACE OF CLOSrNG: Closing shall be held in the county where Real Property is located, at the office of the attorney or other closing agent designated by Seller. I. TIME: In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided for herein which shall end on Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day. T~e is o~ the essence in this Contract. 5 J. DOCUMENTS FOR CLOSING: Seller shall furnish deed, bill of sale, construction lien affidavit, owner's possession affidavit, and corrective instruments. Buyer shall furnish closing statement. K. EXPENSES: Documentary stamps on the deed and recording corrective instruments shall be paid by Seller. Documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, and recording of purchase money mortgage to Seller, deed and financing statements shall be paid by Buyer. Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title or abstract charge, title examination, and settlement and closing fee, shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph IV. L. PRORATIONS; CREDITS: Taxes, assessments, interest, insurance and other expenses and revenue of Property shall be prorated through day before closing. Buyer shall have the option of taking over any existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through day prior to closing or occupancy if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are completed improvements on Real Property by January 1st of year of closing, which improvements were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration available exemptions. Any tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill. on condition that a statement to that effect is signed at closing. M. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered as certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate of assessment for the improvement by the public body. N. INSPEC!l'IQN, IlBPAlR Mm Ull._IWlSB. Eeller ..arrants that, as af 19 Ela}s flriar ta elasi,,!!, the aeili,,!!, raef (i"alHEli,,!! the faseia a"EI aaffits) aREI ellteriar aREI iRteriar .alls, faH"ElatiaR, sea alls (ar e,!~i .aleflt) aAEI Elael,a!!e Ela Rat ha. eaR} VI!;Ie:bE EnUlEllCE af leal<s, ate!: Elama!!e a!: strtiet,ual Elama!!e anEl that the sefltia taflll, flsal, all aflfllianees, meahaRieal items, heatiR!!, eaaliR!!, eleatrieal, flll>ffilliR!! s}atams aREI lIIaehiRer} are iR HORKIIIC CO/lOITIOI!. The fare!!aiR!! ..arraAtJ ahall ae li",iteEl ta the ite",s sflaeifieEl "RIess ather ise flra :iEleEl iR aR aElEleRElWlI. e..Jer ",a), at e..)er's allflaRsa, ha.e insfleetians ",aEle af thaae itellls a} a fir", ar inEli.iEltial sfleaiali2iR!! iR hame insfleetians aREI halaiR!! an aaatiflatiaRal liaanse far stieh flHrflese (if re'!uiraa) ar aJ an apflrapriatel) lieensed rlariaa aaRtraatar. BH)ar shall, flriar ta Btiyar's aaa"flaRey ar Rat less than 19 Ela)s priar ta alas in!!, ,hiehe.er aaatirs firat, reflart iR .,ritiR!! ta Eeller stiah itams that aa nat meet the aba.e staRaaras as ta aefeets. Unless etiJer timel} reflarts stiah aefeets, etiJer shall ae aee..eEl te ha.e .lai-ea Celler's .arrsflties as ta Elefeats Rat reflartea. If reflairs ar refllaee..eRt sre re,!Hirea ta eamfll) ith this StaRElara, Eeller shall aSHse tRem ta ae maae aREI sRall fla} tifl ta tRe a..atiRt flra .iaea iR Para!!rapR la). Seller is nat re,!"irea ta ffialle reflairs ar ref31aeemeRts af a eas..etie nattire tiRless eatised b) a Elefeeti8eller is resflansiale ta ref3air ar ref31aee. If th_ east af stieh reflair ar refllaeellleRt elleeeEls tha ""'atiRt f3ra.iaeEl iR Para"raflh (a), Bu)er ar Eeller ma) eleet ta flaJ stieh elleess, failiR!! hieh either flart) ilia) eaReel this CaRtraet. If seIler is "Raale ta earraet the Elsfeets flrier ta elasiR!!, the east thereaf shall ae paiEl iRta esera.. at elasiR!!. Celler sRall, "fleA raassRaale Rstiea, flra iee Htilities ser iee ana aeeess ta the Preperty fsr iAsf3eetiaAs, iRel~aiR!! a .al], thrsu!!h flrisr te elesiR!!, ta _sAfir.. that all iteffis af Peraanal Prepert) are eR the Fleal Prsflert) aRa, stil3jeet ta tl'le fare!!ein!!, tF.at all re'!tiirea reflairs anEl refllaeeHlents ha. a aeeR ..aee aREI that tl'le Prapart), iRel..aiR!! atit Rat limi teEl te, la\ n, shrtiaeer) anEl flael, if any, has aeen maiRtainea iR the eaRElitiaA el!istiR!! as af Effeeti.e Data, erElinar) ear aAB tear elleeflteEl. S. nlSK SP LeSS. If the Praflerty is eama!!eEl a} fire sr atRer eastialty eefere elesiA!! aREI east af restaratian Elaes ~at elleeea 3~ af the asses sea .altiatieR ef the praflertJ sa eaffia~eEl, east af !:esteratieR shall ee an asli!!atiaR af the Seller ana elasiR!! shall :!,reseea flHrsHant ta the te~s af Cantraet ..ith resteratien sasts esera ea at slasiA~. If the east af restaratiaR slIeeeas 3\ af the assesseEl altiatian af the iffi:!'ra.affisRts ss aama!!ea, edJer shall ha e the afltieR af either ta],in!! Pre:!,ert} as is, ta!!ether ,ith either the 3\ ar aR) ins~ranee flraeeeas flaJsale a) irtHe ef sHeh lass ar asma!!a, ar af eaReeliR!! CaRtraet aRa reeei.iR!! rettirR ef da:!'esit(s). P. PROCEEDS OP SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closing date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all deposi t (s) shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer and simultaneously with such repayment, Buyer shall return Personalty and '-acate Real Property and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fails to make timely demand for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale. If a portion of the purchase price is to be derived from institutional financing or refinancing, requirements of the lending institution as tD place, time of day and procedures for closing, and for disbursement of mortgage proceeds shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a written commitment that it will nDt withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer-mortgagor. The escrow and closing procedure required by this Standard may be waived if title agent insures adverse matters pursuant to Section 627.7841, F.S., as amended. 2. BSSReW. ~R} esera; a!!eRt (.~") reeei iR!! fHAas ar e,!"i aleRt is aHthari2eEl aAa a~reas a, aeeeflta~ee af tl'lelll ta Eleflasit them flram:!,tlJ, AsIEl same iR esers' aREI, sHajeet ts elearaRee, Elisatirse tl'leffi iA aeearEla~ee ith terms aREI eaAElitiaRs sf Csntrast. Failure sf elearsRee af fHnes shall Aat elle..se Bd}er'S flerfarmaRse. If ie Ela..et as te ~~~fltI5 s~tieB BE liaeilities Haser tee ~Ee isie~s af CSRtraet, ~~eRt ffia), at ~~Cflt'9 epti6~r e6flti~~e te RalEl the s..sjeet matter af the esers' Hntil the parties herets a"ree ts its ElisatirsemeRt, ar ..ntil a j..e"ment sf a eatirt af sSHlfletent jtirisaietian shall EletermiAe the ri!!hts af the flarties er ~!!eRt ma) eSflssit ith the Dlerl, sf tl'le eiretiit eetirt ha iR!! jHrisElietiaR af the Eliefltite. gflan nstif,in!! all flarties eSReerAeEl af s..ah aatiaA, all 6 liasilit) en the !,art af P.~eRt eRall f~ll) teFminate, el!ee!'t ts the el!tent sf aeesHRtiR~ far aR) iteHls !,re.ieHsl1' aeli erea aHt sf eeers.. If a lieensea real estate sraJ,er, J\~ent .till ae"'l'l1' ,ith !,rs.ieisns ef Cha!'ter 17., LS. , as aHlenaea. An) s~it set eeR BH)er aRa Seller Rere ~~eRt is maele a !,ert) seea~5e sf aetiR~ as A~ent hereHRaer, sr iR an) s"it hereiR A~ent iRter!,leaas the sHsjeet matter ef the eeere.., A~ent shall reee er reassnesle attsrRe)S' fees ana eaets ine"rrea ith these aHls~nts ts se !,eia frsm ana S"t sf the eeers..ea fHnas ar e~Hi.aleRt ana eRar~eB ana a..araea as ee~rt esste in fa.er af the !,re.ailin~ !,ert). The P~ent ehell nst se liasle te an) !,art) er !,ersen fer Hlieaeli er) ts BH)er sr Seller sf iteme sHsjeet te this eeerel, .Rlees e.ch Hlisaeli.er) is aHe te illf"l sreeeh sf Gentrast er ~ress ne~li~enee ef ~~ent. R. ATTORNEY FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litigation which, for the purposes of this Standard, shall include Seller, Buyer, and any brokers acting in agency or nonagency relationships authorized by Chapter 475, F.S., as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs, and expenses. S. FAILURE or PERFORMANCE: Except as provided in Paragraph XII, if Buyer fails to perform this Contract within the time specified (including payment of all deposit(s)), the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be recovered and retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If, for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of Buyer's deposit(sl without thereby waiving any action for damages resulting from Seller's breach. T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE: Neither this Contract nor any notice of it shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as if given by or to that party. U. CONVEYANCE: Seller shall convey title to Real Property by statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to the status of Seller, subject only to matters contained in Paragraphs VI and XII and those otherwise accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. V. 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. W. ~IES: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. 7 ~ I I--- S.W. 8TH ST. - W ~ ~ > Z - vi <( 0 vi f- - S.E. I 0 z I I I I- 3: "'" Z N (/) 1.;1. S.W. 8TH COURT - ') I~ w~~ I ----;- :;c I- Y '--- l- I I I I I tn I- ~ I- 9TH ST. u! l- (/) EHHm~=-1 ~ - I . 1"- I--- f- I--- f- I Ci I--- f- Cl 9TH ~ffiffiE~~ Qj I--- f- SWINTON GARDENp I--- f- A! I--- c- . :;= / ~ I li: I--- f- (f) . (/) - I--- f- STREET '- - l; M II II w w > > ,. CO'GP0" Q' ~ <( <(- - - - ti I- R, < 0 a:: a:: "....--.. o - ~~ I- g, U <::mN> >-- f-- a:: l,j 0 z~ ; "- ~U WAY fl ~ I--- ~~ (::> ;/ I--- z 0 ::1: I- O~ ...J J~ f-- . w 0 0 (f) ~'-- 3i ~( I--- > ~ 1::1: ...J z I--- lD => ~- (f) S. LONGPORT CIR. 'I - - WILSON AVE. ST. REIGLE AVENUE Em1JJ~ / J STERLING AVENUE CENTRAL AVE. !Jl~ ~r J gm]]J ~SS '\ AVENUE ~ SOUTHRIDGE ROAD I I I 1 COLLINS AVENUE I w l-J => z 1 w > <( ~ ..J.-- UJ ~a 5< '" 6/ <( 0 ~<v ,?-\'i:F><<- 5 <i' -<' Q: ~ ~ THE ~a <.i ~ I uj PLAZA '" l- t.: "'" I //1, AT C/f?Cf.E Ir DELRA) !v<(- "I.v<:> ~ N - LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. CITY OF DELRA Y BEACH, FL PLANNING'" ZONING DEPARTMENT -- DIGITAL BASE MAP SYSTEM -- PCN: 12-43-46-20-16-000-0540 '" 12-43-46-20-16-000-0550 e-- (!. 28 Boca RatonlDelray Beach News - Monday, June 26, 2006 . www.bocanews.com C\ O\P \0' ':, 8- ~ fOO ANNOUNCEMENTS ]0] L"~dl \'Jticps NOTICE of IN1EHT TOTIWlSFEIlISELL ReAL PROPERTY NOTICE IS HEREBY GIVEN th;< the City of Delray Beach, Florida. an- nounces ils intention ler transterlse6 cert.ain real prop<<ties for affordable housing puposes 3:8 part ol the Com- munity Land TlllSt, ,more'partirularly desaibed as follows lot 1, Block .38, Subdivision of Soulh Half (112) 01 Block 38 and SUb\1insion of North Hall' (112) ot Block 39, Town of linton, a:eorOing to Ihe map or plat thereof as recorded In Plat Book II, page 3-4. Pu!)Ik: Records of Palm Bea::l1 County, Rorida lot 11, Bloek 8. Tourist Nook, accord- ing to the map or plat thereot as re- corded In PIal Book 11, Page ~7. F\.lb- lie Atcord,s of Palm Beach County,' Florida. lot 13. Block l Atlantic Gardens. ac- cording 10 the map or plat ther.ot as recorded in Plat Book 104, Page 56, Publ~ Records 01 Palm Beach County, Rorlda. lot 23, Carv&-r Squ,-"e, according 10 the m~ 0( plat, thereof as ,racorded in Plat Bo_ok 24,' Page ", Public Records of Palm Beach Counry. Flori- da Lot 54, SWlSet ParK _according to the map Of pial: theleoI as reG4rc1ecl h Plat Book 12; Page 65, Public Records of Palm BeD County, Fbrkla. lot 55, Sunset Part, according to the map or pial thereof as r&cordell i1 Pial Book 1.2, Page 65, Public Records of Palm Bea:h CoLflt1, Fbrida. The South 40 teet of the Norlh 254 teet ~ the Eas,l35 feel of B1oc1l31, Map ot lhe Town of Union, Florida, . according tOo the map or plat thereOof recorcltd In Plat Book " Pagt J of lie Publk: ReCords 01 Palm 8uch COounty, Aorlda. Tn. abon being lhe real propertv described under Tax C.rtifiCilte 11650, In the Tax Deed re- corded In Offtctal Record Boote 11 980, Page 1590, Pubtlc Re:cords 01 Palm Beach Coooty. Ronda. Other terms of the transfer/salear. contained In the Contracls for Sale and Purchase between the City and the Communly land Trust. Resolu. tions ot U.e Clv Commission author- 1zng the traniSterl.$a1e 01 real prOoper- ties incorporating the terms and con. dllons thereof, will be consldefed at a public bearing to h held on July 11, 2006 at 7:00 p.m. at Gtty -Hall, 100 N.W. 1st A~nue, Dekay Beach. FlOor. kla. aTY OF DELRAY BEACH. FlOIUQo. By CheYeI1eD.Nubil City a.", Publish The- Boca RatonfDelray Beach News Mooda)< JlIJe 19. 2000 Mooda)< Ju1e26. 2000 ea'1.0ICLt4~ ~ cc {!t4o/~ 28 Boca RatonlOelray Beach News - Monday, June 19.2006. www.bocanews.com a~-'O\P 100 ANNOUNCEMENTS 101 Legal \otices NOTICE Of INTENT TO TRANSFERlSEll REAL PROPERTY NOTICE IS HEREBY GIVEN thaI the City of Detray Beach, Flor!da, an. nounces its intention to transfer/sell certain real properties for affordable housing I'U'POses as part of the Com. munity Land Trust more particularly described as f91IoWS: Lot 1, stOCk 36. Subdivisioo. of Soult! Half (1121 of Block 38 aod SubdiVision of North Half (1121 of Block. 39. Town of Unton. according 10 1he map or plal thereof as reCorded in Plat Book 11 Page 34. Putli<: Records of Palm Bead> County. Florid'\, Lot 11. Block 8. Tourist Nook. accord- ing to the map or plat the~eof as reo corded in Plat Book 11. Pa"ge 47. Pub. lie Records of Palm Beach County Florida Lot 13. Block 2. Atlantic Gardens_ ae. OJrding to the map or plat thereof as 101 Legal Notices teearded in Plat Book 14. Page 56 Public Records of Palm Beach Coonty. Rorida lot 23_ Carver Square. according to 1he map or pIal thereof as recorded in Plat Book 24. Page 11. Public Records of Palm' Beach County. Flori- da. Lot 54. Sunset' Parte according to the map Of pial thereof as recorded in Plat Book 12. Page 65. Public Records at Palm Beach County. fIorida. Lot 55_ Sunset Parle according to the map or plat thereof as recorded to Plat Book 12. Page 65. Public Records of Palm Beach County, Florida. The South 40 leet of the Nortn 254 teet of the Easl 135 leet 01 Block 31 Map of the Town of Unton.' Florida. according to the map or plat thereat recorded in PlaI.Book ,. Page 3 at the Public Records ot Pafm Beach Coon1y. Florida. The above being. the real prop~rty described unde.r Tax Certificate t1650. in the Tax .Deed re- corded in Official Record Book. 11980 Page 1590. Public Aecofds of Palm Beach County. Florida. Other lerms 01 the transledsale are contained in the Contrac1s for Sale and Purchase between the City arid lhe CommunilY land Trust. Resolu- tions of the City Commission author- izing the transterlsale' of real proper- ties incorporating the terms and con- ditions thereof. will be considered at a public hearmg to be held on July t 1. 2006 at 7:00 pin at Cit~ Hall. 100 N.W. 1st "venue. Oelfay Beach. Flor- ida crrv OF OELRAY BEACH. FLORIDA By:R Ct\eveleD.Nubin 101 Legal Notices CityC1er1< Pubiish: The Boca Raton(Oelray Beach News Monday, June 19, 2006 Monday, June 26. 2006