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Res 30-06 RESOLUTION NO. 30-06 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 1027 MANGO DRIVE, AS MORE PARTICULARLY DESCRIBED HEREIN, TO THE DELRA Y BEACH COMMUNITY LAND TRUST, INC., TO BE UTILIZED FOR AFFORDABLE HOUSING PURPOSES. WHEREAS, the City of Delray Beach, Florida, desires to transfer/ sell property located at 1027 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 Delray Beach, Florida, to transfer/sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents of the Delray 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 Delray Beach, Florida, as Seller, hereby agrees to trans fer/ sell Lot 55, 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 Delray Beach, Florida, and the Buyer as hereinabove named are incorporated herein. ( 2006. PASSED AND ADOPTED in regular sessioo on the \ \~daY of ~,jL ) ~zt.A MAYOR '- ATTEST: ~.~ )).~,~~ City Clerk 2 RES. NO. 30-06 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"), 2 0 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. pESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 55, 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. 12-43-46-20-16-000-0550 (b) Street address, city, zip, of the Property is: 1027 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. CITY OF c- (" I ~ (oc., Dat~ LE=. VI (05 C tV By: COMMUNITY LAND TRUST, INC. ..J,ptJ ~ Tax ID No. '5C\-to000.30% Tax ID No. "ZD - Lf ICe 23 S""'2- 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: 1027 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 I s other resources if necessary) cash equal to the maximum required withholding, with any excess withholding being refundable to the Seller upon receipt of a favorable ruling from the IRS. Buyer and Seller understand that the IRS requires the Buyer and the Seller to have a U.S. federal taxpayer identification number and to supply that number on the foregoing forms. A foreign individual may acquire an International Taxpayer Identification Number for this purpose. Since it may take several weeks to receive the number after application and the IRS will not process these forms without the actual number, a party lacking a TIN is advised to apply immediately. B. The Buyer shall have sixty (60) calendar days within which to conduct any and all feasibility studies and determinations relative to the suitability for the acquisition of the subject property by the Buyer and the Buyer reserves the express right to terminate this Contract at any time during said period for any reason or no reason, in Buyer's sole discretion, whereupon Buyer shall receive a full refund of all deposit monies paid hereunder. Buyer shall be granted reasonable access to 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. EVrDENCZ OF TZ~: (l)An abstract of title prepared or brought current by a reputable and existing abstract firm lif not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to Real Property recorded in the public records of the county wherein Real Property is located, through Effective Date. It shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract, the abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance 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 3D 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 3D days from receipt of notice to remove the defectls), 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 Is) 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. 5. ~ II9NIilT IIQRI!~I SBGUIU;R J\QlBBI_ W!;l s-y-. 1\ pli"eaase mane) ma"t!la!le aAa lRa"t!la!le Aate ta Selle" ahall I""a iae fa!' a 39 aa) !l"aee I"e"iaa iA tae e eRt af aefa~lt if a fi"st ms"t!la!le aRa a IS as} !l"aee pe"iea if seeaRa a" lesse" ms"t!la!le/ saall I""e iae fe!' "i!lat ef p"el"ayment iR hele e" in I"a"t \itae~t peAalt)/ shall pe"mit aeeeleEBE!.sF1 1.1'1 e. eAt af tEaRS feE af t}:Je Rae! PEspeEt), Baall EeEfai.~e all I'Eier lieR aRa enel:!mEU~anees t.e Be ltept ifl !lsss 5taRaiR, aRa fa"Bia msaifieatiaAs af a" flit~"e aa.aAees ~Aae" p"ia" me"t!la!le(s)/ saall "e~~i"a B~)e" te maiAEaifl pelieies af iRSl:!EaRee eeR~aiF1ifl! a staRsSEa meEtga~ee elal:!se ae eriR~ all impEe.emeAts leea~ea SA the Real l'E8I'eE1:J a,aifll.!t fiFe aPla all perils iRell:taea \1!.thiR tHe teFHl "enteRaea ee.eEalJe eRaSEseme:R'ES" aRB. sl::1ea atka!' rislr:s ana peEils as SalleE ms} EessBRael) Ee~ife, in SR amel:tF1~ e~al te tkeiE Highest iRs~Eaale alHel aR~ tAe me~t~a~e, flete a~a eee~rit} a!feement BRal1 se s~Ref ise iR ferm aAS eeR~eft~ re~iEea BJ EelleFI B~t Selley ma} SRI} Ee~iEe =laaaea eHsteRaFil) f6~Aa is ~ert,ages, meEt,a~e nates, aRa see~ri~) agEeemeRts gsasyall) ~tilieea e) sa aft' aRS leaf!. iPlstitl::ltisRS BE st.a~e BE na~ieFSal acm}ES lesa'tea is tl:!e eeliFlt) \lfleE'eifl Fleal l?EepeEt:) is lseatea. 1\.11 rersBRal P"a~e"t) aAa leasea seiA~ eSA.e)ea a" assi!lAea ,ill, at Sella,,'s Sl"tieA, Be sliBjeet ta tae lieA af a see~"it) a~"ee..eflt e. iseneea B) !'eee"aea finaAeiPl~ stateHleAt5. If a sallaaA RlaEt~a!le, tae fiRal paYllleAt ,ill sueeea the peria~ie Faymenta tkerssfl. C. saRVZT: 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. .mUrRS. B1::t)eE', at B~)er's eJfPEflse, 'L.itkl.Pl time alleusa te aela. BE e.iEieAee af title aRa te e][amiAe same, ma) aa e ~eal P"al"e"t) iPlsl"eetea B) a rla"iaa Se"tifiea Pest SaAtral SpeEa~e!' ("~e"a~a".) ta aeteFRIiAe if the"a ia aft) isi81e aeti e termite l.RfestatieA er isisle EUistiRg aama,e treM termite iflfestatien ift tAB PFe~eFt). If either a" sata a"e falina, Bli)e" .ill ha e 1 e1a)s f"alll aate af .,,,itteR f!atiee tfie"eaf .,ithiA hieh ta aa.e eest af t"estmeAt, if ~a~~i"ea. estiHlatea B) the Spe"ata" ana all aama!la iAspeetea afta estilllatea B) a lieeflsea s~ilae" a" ,sAaral ee~~faeter. Seller shall ~a} ~alia sests sf tFea~ment aRB fe~ai~ sf all sa~a~e ~~ te tHe affiBHAt p~B isea 1A Pa"a~"al"h la). If eatimatea easts eueaea that ama~At, B")a,, eaall ha.e tae aptiaR af saneeliA!l this CePltrset . ~S aa}B after reeei~'E sf eefl'EE'aeter's yeJ5aiF estimate e) ,i iA~ .1;[i'EteR fletiee te EelIeF Bf B~)E.E' M!) eleet te ,resees rith tae tFa~8aetie~, aRa Feee~ e a ereait at elee~fl~ SA tfie ame~Rt pEe iaea iR raEa~fapR (a). .Te~itea. ehall Be aeeRlea ta iRelliae all aea aest"a)iR!l a"!laAisms "e~~i"ea ta se "el"a"tea ~Aae" tke rIBiIsa Pes~ 98ft'Erel Aet, as ~enaea. E. ZN~SS 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 1\. F. LBABBS, Seller aftall, nat leae tftaA 15 5a)S Befa"e elaain" fli"Aish ta B~)eE eapies ef all ,,,itteR leases ana estep,el letters frem eaea ~eAaAt s,eeif}i~, tAe Ra~tiFa BAS al::lFa'Eie~ sf taB ~eflaflt's eee~~a~e~, Eefltal Yates, as aPlees "en~ ana aeeli"i~) sel"asi~s paia B} ~eAant. If Selle" ia ~naele ~a est aiR s~ea letteE f"am eaeh tenaAt, the same LPlfaPlRatiaPl shall se flirAisaea B} Salle" ta Bli)e" ,ithiPl taat tima pe"iaa iA tAe fePRI af a Selle"'5 affiaa it. a~5 BH)ar Ma) thereafter eeHtaet tenaats te e6Afirm SHeft iAfeFmatieA. relleF skall, at elesiR~, eeli"er aRB aS5i~R all 8Fi~i~al leases te B~}eY. G. LZENS: 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. PLACB OF CLOSZNG: 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. Z. ~ZMB: 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~ ~s of th. ess.nc. ~n th~s Contract. 5 J. Oocma:N'rS FOR CLOSmG: 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. PRO~ZONS; CREDZTS: 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. SPECZAL ASSESSMENT LZENS: 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. D'S~BG9Zgy, RBPAZR ~ I~~SBI Seller larraR~S ~hat, as sf 19 as)s prier te elesiR~, the eeiliR~, reef (iRel~aiPl~ the faseia aRa seffits) aRa eHtel!ier afla iflterial! ..alIa, fa~nElatiaR, seawalls (er e"l~i.alent) am! I!ael'a~e ole Rat ha. e afl~ VISIBLE E"IElEUE:;S ef leal.s, I,ater aaR\a~e Sl! str~et~!!al aallla~e afla that the seJ'tie taRll, pssl, all al'l'lianees, ..eenaRieal itellls, heatin~, eeelin~, eleetrieal, J'lkHllllifl~ S)stelllB aREI msehifl"!!) are ifl 119RKHlC C9!JElITIElIl. TAe fel!e~eiR~ _arl!ant) shall ae lilllitea te the itellls speeifiea HRless etller..ise pre. iaea ifl afl aaElePlabllll. 8~)er ma). at B~)e~ls eHpe~5e. Re.a iRspee~iefls maae sf tfiese items B} a firm BE ifisi.iseal s~~eialiEiRg iA Raffie il'lspeetisPls SPIel hslelifl~ SfI eeeHpa~ieflal lieenee fe!! sbleh p~rpese (if reEfUireel) er ay afl apJ'repriatel) lieeflsea flerisa eeA~~aeter. BH~eE shall, ~Eier te B~}eF'5 BeeHpafi~) BE fist less tkaR IS sala prier te e16siR~, hiefie.er eeeHFS first, repeEt iA ~EiEiA! te Eeller seek items that as Ret ~ee~ the ass e staRaarss as te aefeets. 9Rles3 B~)e~ ti~el) reperts s~ek ~efeets, B~)eE shall ~e ~eemea te ka.e ai sa Seller's ISFFsAties as te aefeeta Rat fepe~tea. If ~epaire Sf re,laeemeRt ape re~ire~ t8 eampl~ itR this S~aRaaFar Seller shall ea~se tkem La sa ~aae ai'll! shall I'S) ~J' te tile a"sHflt P"s idea ifl Pa!!a~raph (a). Selle" is fist "e"l~irea te Illal,e "epairs er feplaeemeR~9 sf a eesms~ie HatHEs liftless aaasea S) a sef~eller is respsRsisle te repair BE Feplsee. If t~e eest. sf st:lek repair BE' replaeemsflt. cues-eels t.~e amSt:lflE pEe isea in raEaljra~R (s) r Bl:1} er SF Seller mal eleet te I'S) SHea elleess, failin~ Ihieh ei~hel! pa"t) illS) eSReel this E:;eat"aet. If seIIei is blflaale te eerEeet the e1efeets pEie~ te eleeiagr 'e.fle eest taeEeef Baall BE: pais !fl'e.e eseEer at elesiRg. Selley aRall, ~peR reas8Aasle flstieer pEe tete tttilitiee aeY.a..ee aRB aeasse t.B tkB l'repeEt) fer insl'eetisRs, iHelael.iHg a uallt tF~Z'ek3gh ,rieE te elaaiR~r te eenfiPm taat all items ef Pe!!seRal Pl!epert) sl!e eR the Real Pl!eJ'eEt) afla, saejeet te the fere~eifl~, that all relfUil!eel "el'ail!s afla "eJ'lseellleats ha.e aeeR "aae aaa that tAe Prspe!!!;:), iflelblaiR~ aHt Ret lillliteel ts, la. n, BR!'eeeE~ BAa pselr if afl:t, has eeef! maif!.taiflea ill tkEl eenel.!.tisPJ eniatifl.!J as af Effeeti.e Date, eFel.ifla~) BaE aP'1~ tear eJfeeJ!'Eea. Q. RZSK QP LQSS' It ~he P!!sJ'SI!!;:) is e1ema!ea a) ti"e a" etas" easHalt) aefeEe elesiR~ aAa eest ef reste"atie~ e1ees nat euseeel 3\ ef the assessea albla~iePl af the PrsJ'ert) se aama~eel, eest sf reste~atieA eaall ae aA eali~a~ien ef the SelleE aAa elesifl~ ellall ~I!seeea pbl!!eHaR~ te the teEmS ef Ceflt!!aet .,ith reete"a~isfl eests ess"e,eB at elesin~. If the east ef Ees~e"atieR eHeeeae 3\ ef the aesessea el~atieA ef the i'"l'"e.e"eflts se aaffia~eB, B~)er saall ha.e the el'tiaR ef eithel! tal,ifl~ l're~ert) as is, ts~etlle" "i"h eitae" the 3\ e!! "") iRsHrsnee preeeeas J'a)aSle a) .irtHe sf s~ek leas BE' aaea!Jer SF af eaRseliR, GeHtraet aRa reeei iAg Yet~~H af eepesit(s). P. PROCEEDS OP SALE; CLOSZNG 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 evailable 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. BSSRSWI ~~ eseE'S r ageRt ("~.l Feeei in, f~nel.s BF e~~i.alent is aHthe~iBea aRa agEees ~) aeee:ptaflee sf theM ~e ae~esit ~Rem pFeep'EI)r ~els same iR esers' aRS, s~ajee~ te elearaRee, aisBHFse t~em if! aeeeraaflee itA teF~e aAs eeflai~iefle af Cafltrset. rail~Ee af elearaRee at fanas SHall fiSt. ene~se B~}eEI5 peEfe:ffiaRe~. If in ae~5t as ta A~eflt's a~ties BE liaeilities ~RaeY the pEe isieRs sf Se~tEae~r ~gent ma), at ~g~fltls eptisfl, eefltin~E te RBIs tae s~ejeet mattez sf the ese~e\. ~fltil the paEties a~Eet6 a~Eee te its ~SBeY3~m~BL, SF ~Btil a jHa~eAt sf a eek!F~ af eSJftl'eteRt j tiYieelie'Eiefl Baall aeteERIiae "EAe rigats sf the ,aYE{es SF AgSFlt ma) ele1geai t ,;1 th tRe eleFh: sf tAe eiFe~it. eBtiFt ~a iR, j~risaie~ieA sf the elispti~e. 9~eR H8tif)inlj all paFties eeFesERsa sf saBa aetie~, all 6 ;;~~~;;:~ :: t~; ~~:: ~f ~~e~t ~~~:: !li11} tel'lRinate, elleel't te t"~ e""8Ht af ,aeeeliRti,:i ~:r :'~ ~:~:~ ~~~:i~li~l~ ~:~:::':::~ a"; ~f ~~:r~~. :~ a heeHees real eetate Breker, ;>~eHt ..11 eallll'ly nth !lra... 0 _ &_ fl _ ._, ~~ ~~~A~~~. ~~~ ~~~t ~:t e7ft B,,)er aHs Seller ,where A~eFt ia 1ll3Se a l'art} Beaa~ae af aetiR~ a; ::::: f:r:::~~:, :: ~: :H~ =~:: ~~e;::~ ~~:H: :~t=:~:aaaa the a~e,aet Illatter af the aaerar, ;>~ent shall reea er rea , e _ _ ~::~:~ ~::s ~~~~::a:: ~~~~:r:~ ~~t~ t~:sa ama~Rta ta Be ,1',:,i.. tralll aR" e~: af tlle eaeH' e.. hR,"'; e; eer:":;:i;: ;~: ;~;; :~ ::~ ::~::~~~ '::~ ''''.:''.rt ~~a :H :~.el' ef the !lre B3.hR~ l'art). The ..~eHt s"a11 .et se h~i~ ~: _.~' r;:-t,;.r ~i::~ ::: ~~s~;l~~::~ te D~} el' Sl' Seller ef HeRle alisj eet te this eeel'e', ~ftlees e~ah ...is '. ) '5 due t \ i brcaeR af teRtEae~ er grese flEgl~geAee af ~~eAt. 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. ~LURE 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 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. CONT.RACT NOr RECORDABLE; PERSONS BOORD; HOTZCE: 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. 0. 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 AGREEHENTS: 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... I I - / S.W. 8TH ST. - W :;:: > Z - :;:: vi 4: 0 vi I- S.E. I 0 z I I I I- ~ V Z N (J) S.W. 8TH COURT r--- CT. w~~ I :;:: I '-----;- :::t f- Y vi f- II I I - :Ii f- I ~ f-- 9TH ST. '-'! f- Vl 8HEE~=- I - ~ I ."'- - - 0 - - - - 9TH . ffiffiE~- ~ Ci1 - - :;:: ..=== SWINTON GARDENp - - A: - - . ~ dl lC - - Vl . Vl - '- - STREET - - fJ TrPl'u II II w w N. LONGPORT CIR. > > 4: 4:- ... -. - rY I-~T '017~ - u 0:: 0:: ~~ I- ~ U STONE 0:: >- .- 0 Z HARHOH '<:( ki - ~~ a. ~J WAY n C> .$ "'- z T:-~7-. ~ 0 I- ...J W 0 JQ S:2 8~( -~ Vl " 30 Z Z T: Q-01 ~ 4: ~ Vl ::;; S. LONGPORT CIR. ;----, I I WILSON AVE. '-- mIIIJ~ ST. REIGLE AVENUE I j STERUNG A VENUE CEN TR AL AVE. - ~t . fA.SS '\ AVENUE "-l.= ~ SOUTHRIDGE ROAD )~ ;E COLLINS AVENUE I '" f---J w 1 ~ Z I w > \ \ 1 4: o~ t.w ~ - 5( 0 is I ... 0 ~\\F~X. Q: :0~ ..... < ~ Q: ~ ~ I THE ....0 <i ~ lLi v iE I PLAZA v I I AT CIRCLe DELRA 1 ~~ r ~ I'-. I j / I N - LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. aTY Of DELRAY BEACH, fL PLANNING 4< ZONING DEPARTMENT -- DIGITAL BASE MAP SYSTEM -- PCN: 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. pESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 55, 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. 12-43-46-20-16-000-0550 (b) Street address, city, zip, of the Property is: 1027 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) i 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 X 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 OF DELRAY BEACH DE COMMUNITY LAND TRUST, INC. ~ Co I ~ (OCo Dat~ L& vi (050 "-.J By: Date ..J,ptJ ~ Print Name: Tax ID No. Tax ID No. "ZD - Lf ICe L 3 S"""2- 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: 1027 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 TITLE: (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 Is) 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!JRCIIl\.CIIl IISNE:Y tleR'PC&SE1 SECI1RZTY AalBElIEN'1' 'PQ CBi.UR. A I'~rehase msney msrtlj'a!j"e ana mart!j"alj'e nste ts E:eller shall I'rs iae fer a 39 aa~ lj'raee periaa in the e.ent af aefaHlt if a first msrt!j"a!j"e ana a 15 aa~ !j"raee "eriaa if seeaAa ar lesser martlj'a!j"el saall I'ra.iae far ri!j"ht af I'rel'aYffient in ..hale ar in part \itha~t l'eAalt~1 shalll'ermit aeee.1E.Eat.ien ifl c. Eflt af traflsfe:E" af the: Real r:E8f3C:rt) / aRal1 rCEfUi:ee all 13EisE tieR aRB CflEl;1mBraFleC5 ta BE. hept iA !j"sea stanaifl!j" ana far~ia maaifieatians sf sr f~tHre aa.anees ~naer I'risr msrt'l'a!j"e(s). shall re~~ire B~~er ta maifltaiR ~elieies sf iflsuraflee: eaAtaiflifl~ a staA8ar~ ffieEt~a~ee ela~6e sa eEifl~ all imf3re.emcflta leeatea SA tHE. RE.~l PE8f3E.Et) aEjaiFlst fiEE. ana all ~erils inell:1elee:i uit1:liR the teEm "eJEte:flaea 88. e:ralje eRB:eEScmcRtsll aRa 51.:1Sn etF.eE I"is)ts a~a perils as &eller ffia) reasena5l~ re~ire, in an amsHnt e~al ts their hi!j"hest insura~le al~e, ana the ffiert!j"a!j"e, nate ana see~rit~ a'l'reement shall ae sther..ise in fsr-m ana eentent re~irea ~~ E:ellerl ~Ht &eller ffia~ enl~ re~ire ela~ses e~stsffiarilj fs~na in mart!j"a!j"es, mart!j"a!j"e nstes, ana see~rit~ a!j"reements 'l'enerallj ~tilizcd B~ sa.in!j" ana laan institHtisns sr state sr natisnal Banks leeatea in the ea~nt) ,herein Real Pre~erty is leeatea. All Persanal Prsl'ert~ aRa leases ~ein'l' esn e~ea sr assi!j"nea Jill, at E:eller's sl'tisn, ~e sH~jeet ta the lien ef a see~rit~ a!j"reement e. iaeneea a~ reesraea finansin!j" statements. If a ~allean ffiert!j"a!j"e, the final I'ayment .ill eueeea the ~e~isaie ~ayments theresn. 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. n. _ans. B~~er, at B"yer's eJ'Igense, .ithin time alla.lea ts aelLer e.iaenee sf title ana ts emmine same, ffiaj ha e Real Prsl'ertj insl'eetea ~j a Flsriaa Certifiea Pest Csntrsl 9!'eratsr ("OI'eratsr") ts aeteEffiine if taere is an) .isi~le aeti,s termite infestatien er isi~le enistin!j" Baffia!j"e frem teEffiite infestatien in the Prsl'ert~. If either ar ~ath are fa~fla, B~~er ill ha e 1 aajs frsffi aate sf \#ritten netiee theresf ,.ithin ,hieh ts ha.e eest ef treatffient, if re~~irea, estimatea~) the Ol'eratar ana all aama!j"e insl'eetea ana estimatea ~~ a lieensea ~~ilaer er !j"ene~al esntraetsr. Eeller shall I'a) .alia essts sf treatment ana rel'air af all asms'l'e ~I' ts the affiSHnt I'rs iaea in Para!j"ral"h (a). If estimstea essts eneeea that ams~nt, B~~er shall ha.e the sl'tien sf eaneelin!j" thie Csntraet ..~5 aajs after reeeipt sf esntraetsr's re!"air estimate ~J !j"i in!j" lritten nstiee ts E:eller sr BH~er ma) eleet ts I'rseeea Jith the transaetisn. ana reeei e a ereait at elssi~'l' an the amsHnt !"rs.iaea in Para'l'raph la). "Termites" shall ~e aeemea ts inelude all 'sea aestrs)in!j" sr'l'anisffis re~Hirea ta ~e repsrtea ~flaer the rIeiIaa Pest Csntrsl ~et, as amenaea. E. INGRESS 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. bBnSBS. E:elle~ shall. nst less than 15 aa)s ~efsre elssin~, turnish ts B~)er eal'ies sf all ritten leases and estsl'!"el letters f~sm eaeh tenant sl'eeifjin~ the natHre ana auratian sf the tenant's aee~l'ane~, rental rates. aa:aneea rent ana seeHrit~ ael'ssits I'aia ~) tenant. If &eller is ~naale te s~tain s~eh letter fram eaeh tenant, the same infermatisn shall ~e farnisaea ~~ Seller ta BH~er ,ithin tBat time I'erisa in the fsrm sf a E:eller's atfiaa.it. ana BH~er maj thereafter esntaet tenants ts esnfirm s~eh infsrmatisn. E:eller shall, at elssin!j", aeli,er ana assi~n all sri!j"inal leases ts B~~er. G. LIENS: Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to Property for 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. 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. 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. INEPBS'1'I9U, REPAZIl 1!o!m !~!l'l'EmINSB. Selle!!: '..a!!:rants that, as sf 19 eB) s I'risr ts clssiFl,,!, the eeili",,!, rssf liRelliaiR,,! the faseia ane ssffits) aRa eHterie!!: aRa iRte!!:isr ,alls, fe""aatieR, sea. aIls Isr eel'.i alent} aRa as"l<a,,!e as RSt ha.e a"~ '/ISISl.E E"IEENCE sf leaks, later aama,,!e e!!: strlietliral aaRla,,!e: ana tRat tRe seI'tie ta,,)(, I'ssl, all aI'I'liaR"es, Rle"hani"al iteRlS, heatiR"l, eseli",,!, eleet!!:ieal, I'lliRlBi",,! s)stems aRa maehi"er) a!!:e iR WORKI!IC CDNEITION. The fe!!:""!si,,,,! .a!!:!!:aRt) shall ae lilRitea te the items sI'eeifiea "RIess ethe!!:..ise I're"iaea i" aFl aaaenaliRl, E~)er ma), at B~iCE'3 eH~eRse, ha.e iR3pcetisaB ffiaae sf these item3 Bi a firm eE iRai.i8~al speeializiflg 1ft heffiE i"sI'eetie"s ana helaiR,,! aR eeeliI'atienal lieeRse fs!!: slieh I'lirI'5se (if !!:eqliirea) er a) an aI'I'!!:eI'!!:iat51) lieeRsea rle!!:iaa esnt!!:aete!!:. Sli)er shall. I'!!:ie!!: te Sli)e!!:'s eeeliI'aRe) SE RSt less thaR 19 aa)s I'rie!!: te eleei",,!, .hiehe,er eeelirs firat, EeI's!!:t i" ,ritiR,,! ts Seller alieh iteRls that as Ret IReet the aae e staRaaras as ts aefeets. g"lesa Sli)e.. timel) EeI'erts slieh aefeets, S>l}er s"all ae aeeIRea te ha e ,ai-ea Seller's larra"ties aa te aefeeta "et reI'ertea. If !!:eI'airs e!!: EeI'laceffie~t a..e Ee~liirea te ee"'I31) it" this Staneara, Seller shall ea"se theRl te ae ffiaae ana shall I'a) liI' te the ame..nt I'!!:e iaea i.. Para,,!raI'h (a). Celler is net req"lirea te Rlalle !!:eI'airs er Feplaeeffi~At9 sf a eesffietie nat~rE unless ea~sea 5J a Bef~cller is res~eA5iBIE te re~air SF re~laee. If tfiE eest ef s"eh !!:eI'air sr reI'laeeffieRt e"eeeas the _elint I're.iaea iFl Para,,!raI'h (13), Bu)er e!!: Seller ffia) eleet te I'ay sCleh eHeeas, failin,,! "hieh either I'art) RIa) "a"eel this CeFltraet. If seI"I"er is liRable ts esrreet the aefeets I'risr te elaaiR,,!, the eest the!!:eef shall ae I'aia iRta esere' at elasin,,!. Seller shall, "I'e.. reaae..aale "etiee, I'!!:e"iae ..tilities ser.iee ",,,a aeeess te the PraI'ert) fe!!: iRspeetiens, iFlelliai",,! a .lalll tare",,!h l'rie!!: te eleain,,!, ts eanfir~ that all ite~s sf PeraeRal PreI'ert) are en t"e Real PreI'ert) ana, slibjeet te t"e fere"!ei,,,,!, that all relfUirea reI'airs a"a rel'laceRleRts ha.e aeeR IRaee aRa that the P!!:eI'ert), iRehlaiR,,! alit "et limitea ta, la R, shrtiBaer) aRa I'eel, if aRY, has aeeR ~aintainea in the eaRaitie" e"ietiR,,! as ef Effeeti.e Oate, s!!:aiRar) ear aRa tea!!: e"eeI'tea. s. nz~ SF LSSS, If the PraI'ert) is aSffia,,!ea a~ fire ar ather easlialt} aefa!!:e elesiR,,! aRa eest sf reste..atiaR aees net e"eeea 3~ ef the assessea .alliatis" ef the PreI'e..t) sa eama,,!ea, eest ef resteratia.. shall ae aR sali,,!atian ef the Seller a"a elesiR,,! shall I'reeeea I'lirSliaRt ta the terms af CaRtraet ,ith resteratia.. easts esere,ea at elesiR,,!. If the eest af ..estaratieR e"eeeas 3~ ef the assessea .alliatien ef the iffil3ra.e~e"ts sa aaRlB,,!ea, Bli)e!!: shall ha e the eI'tia" ef eithe!!: ta),in~ PreI'e!!:t} as is, ts,,!ethe!!: ..ith either tae 3~ er aR) insliraRee I'reeeeas I'a)a"'le a) .irtlie sf s>leh lsss ar aa~a,,!e, aE ef eaReeliR,,! Cs..t!!:aet BRa reeei iR,,! retlirR af aeI'asit(s). P. ~S 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. ~. BS~~r, An) esera a,,!eRt (n~n) !!:eeei i",,! fli..as a!!: eqlii aleRt is alitha!!:ieea aRa a~rees a) aeeeI'taRee sf tREffi ~e a~~esit tRem ~~e~ptl), hela saMe iR eser81 aRa, s~ejeet te elearaAee, aiSSHrSE tBem iR aeeeraaflee itA teEms aRB eSAaitisRs ef Ce~traet. PailHFE af elearanee sf fURaS shall net eHe~se B~)er's perfeIffiaAse. If in ae~et as te }~Efltls a~tiEs eE liaeilities ~flacr tRe ~r6 iaiens sf Centra8t, ~~eAt ffia), at ~~eRt13 aptian, e8~tiA~E te hela the s~ajeet matte!!: af the esera.! liRtil the I'arties herets a,,!ree te its eiealirseRle..t, a!!: ~ntil a j>la~~ent ef a eeurt ef eemI'eteRt JlirieaietiaR saall aeterIRine tRe ri~hts ef the I'arties er A,,!eRt IRa) aeI'asit .ith the eleEI( af the eireliit eelirt ha.in,,! jlirisaietisR ef the aisI'lite. UI'en Ratif~iR,,! all I'arties ee"eerRea ef Blieh aetie.., all 6 liaeilit~ an the I'art af A!jeAt s"'all f~ll) termiAate, eH"e!'t ta the enteRt af aeealiAtiA!j far an) items !,re ia~sl) aeli.ereel alit af esel'a'. If a lieenseel ..eal estate ersller, ]\!jeAt ,ill es",!,l) .ith !,ra.isiaAs sf ,"h,,!,te.. 175, Lt::. , as ameAeleel. Afl~ sliit eet_eeR BIi)er aReI Seller ~heIe ~!jeAt is maele a !,art) aeea~se sf aetiR!j as A!jeAt hereliAse.., ar iR an) s"it lhereiR A!jeRt iAter!,leaels the s"ajeet matteI sf the eserSl, A!jent shall reea7e.. reassAaele attarne)s' fees aAeI essts ine"Ires \litR tRese amaliRts ts as I'ais fram ami Slit af the esera.leel fliRSS a.. eerlii .aleRt aRs eha"!jea aAe a'a..e1ee as SS~It easts iA fa.sI sf tRe !,re ailiR!j I'art). The A!jeAt shall "st ae liaele ts aA) !,a..t) SI !,erssn fs.. ",iaeleli el') ta glilel' er 8ellel' sf items slia}eet ts this esel'S , "nless Sli"R misseli erl is a~e ts .illf"l e..eaeh sf ,"snt..a"t sr !jesss ne!jli!jenee sf A!jeRt. 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 ~75, F.S.. as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs, and expenses. S. FAILURE OF PERFO~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 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 ill II , ~- I I ST. ~S '\ ~ !<-~ ~ " I CT. I s: vi ') y 9TH 9TH AVENUE a'li ~ s: vi llJ_= "'( -\ I 1 ....- . S.W. 8TH w > <: I t- V S.W. II I I ST. tmHE~c-- ~tmHEC' ~: VI . VI '--- STREET . w w > :;( <: =) ....f- f- t- W VI Z :;) VI o ~ ~- ~- ~ - STERLING AVENUE SOUTHRIDGE ROAD w :;) z w > <: - ~~..:s~ '(-.\\)G'i. ~ ~ ~O ~ I (V F V Cll?CLt J N - CITY OF DELRA Y BEACH, FL PLANNING & ZONING DEP...RTlIAENT -- DIGITAL BASE MAP SYSTDI -- I - ST. - z- o \- I--- Z 3: I--- (J) f- S.L III ~~= ti - ~ - ~ - VI - S.~ f----- r- o z ('oj 8TH s: vi COURT '----;- I I I - I <i f--- r- Q f----- f- CiS f--- f- S~"O, ,^RO,"p /. / tr i ~ n17 n n~ : LONGPO: fi:C'RT If! tj----V--L,J u 15 '!; ,..---., ~ ~ U <:TONF .>-.f- ~ ~J H~:yU~'n ; ,~:= o w jg I ::c ~/f- ~ J ,Q (') ~~( f--- ~ ~ ::c Q f-m S. LONGPORT CIR. I ~ ~ l1l~ mE COLliNS AVENUE f-J REIGLE AVENUE -a~ II H~ I lLJ 5( Ea '" -' ~ D:: u w ..: THE PLAZA AT DELRA'r I I . I I LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. PCN: 12-43-46-20-16-000-0540 & 12-43-46-20-16-000-0550 H.uK 'tt1 [ITY DF DElRAY BEA[H CITY ATTORNEY'S OFFICE 2(1() NW 1st AVENt'F' DFlRAY BEACH, FLORIDA 33444 TFl.EPHONE: 56 I i.'"L,,';O'i1i . FACSIMILE: 561/278-4755 Writer's Direct Line: 561/243-7090 DELRAY BEACH F LOR I D A lI.8atI AII.America City , III I! ~;~E 1993 . 2001 MEMORANDUM June 8, 2006 City Commission David T. Harden, City Manager rpf7 FROM: Terrill Barton, Assistant City Attorney SUBJECT: Authorization to Transfer 1027 Mango Drive to the Delray Beach Community Land Trust, Inc. PCN: 12-43-46-20-16-000-0550 Attached to this memorandum please find Resolution No. 30-06, 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 \()~ RESOLUTION NO. 30-06 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO TRANSFER/SELL REAL PROPERTY IN THE CITY OF DELRAY BEACH WHICH PROPERTY IS LOCATED AT 1027 MANGO DRIVE, AS MORE PARTICULARLY DESCRIBED HEREIN, TO THE DELRA Y BEACH COMMUNITY LAND TRUST, INC., TO BE UTILIZED FOR AFFORDABLE HOUSING PURPOSES. WHEREAS, the City of Delray Beach, Florida, desires to trans fer/ sell property located at 1027 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 Delray Beach, Florida, to transfer/ sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents of the Delray 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 Delray Beach, Florida, as Seller, hereby agrees to transfer/sell Lot 55, 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 Delray 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 ("Contract"). I. PESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 55, 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. 12-43-46-20-16-000-0550 (b) Street address, city, zip, of the Property is: 1027 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 X 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 OF DELRAY BEACH DE COMMUNITY LAND TRUST, INC. Date <'" G,/~(0(,., Dat~ LE=. VI (05 () f'.J By: ..J,p~ ~ Print Name: Tax ID No. Tax ID No. 20 - Lf I c.e. "2.. 3 S" "'2- 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: 1027 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 TZTLE: (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 Is). If the defect(s) render title unmarketable, Seller will have 30 days from receipt of notice to remove the defectls), failing which Buyer shall, within five 15) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (I) 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. pgacB&SE l~ l~SASBI SE~TI ~~ TO SELLER. A p~reftase msne) msrt~a~e ana mert~a~e Rste te Eeller sRall pre.iae fer a 39 aa) ~raee periea in the e.ent sf aefa~lt if a first mert~a~e ana a 1. aa) ~raee periea if seesna er lesser mert~a~el shall pre.iae fer ri~Rt ef prepayment in Rele er in part ..itRs~t penalt), sAall ~ermit aeeeleratisR iR e ent ef transfer ef tRe Real Prepert) I sAall reEfblire all prier lien ana ene<>rnhranees te Be J'e~t iR ~eea stanain~ ana ferBia meaifieatiens ef er fet~re aa anees ~Raer prier mert~a~e(s), shall re~eire B~)er te maintain ~elieies ef ins~ranee eentaiRin~ a staRaara mert~a~ee elaese es.erin~ all i~re.ements lseatea sn tRe Real PE813eEt) a~aiRst fi:n~ aHa all ~E.Eils iAel1:lsea \1i taiA Eke teER r1eHteAsea 86. eEa~e. ePla.eESf:ffiE.flts" aRe 81:1819. etl9.er EisJts ana perils as Seller ma) reaseflaBl) reEfblire, in an ame~nt e~al te their hi~hest ins~raBle al~e, ane the mert~a~e, nste ana see~ritj a~reemeRt shall se ether.lise in ferm ana eentent re~~irea Bj Seller, set Seller mal eRl) re~ire ela~ses eestemarilj fe~Ra in mert~a~ee, mert~a~e netes, ana eee~rit) a~reements ~enerallj utilieea Bj sa.in~ ana lean instit~tiens er state er Ratieflal Banlts leeatea in the esuntj . herein Real Prs~ert) is lesatea. All Persenal Prs~ert) ana leases BeiR~ ssn slea sr assi~nea .,ill, at Seller's eptien, Be sHsjeet ts the lien sf a see~rit) a~reement e. iaeneea BJ reesraea finaneill~ statemellts. If a salleell mert~a~e, tRe final payment ill elleeea the ~erieaie payments thereen. 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. 9. _O?RlS, Be)er, at Bu)er's e"f'ense, uithin tillle alle,ea te aelLer e'iaenee ef title ana te eHamine same, ma) Aa.e Real Pref'ertj ins~eetea B) a Fleriaa Certifiea Pest 8entrel 9f'erater 1"9f'erater"} te aetermine if there is aR) .isiBle aeti e termite illfestatisn er isiBle ellistin~ aama~e frsm ter~ite infestatien in tAe Prepert). If eitRer sr BetA are feuna, B~jer Till ha e 1 aajs frsm aate sf \ ritten netiee theresf ithin hieh ts Ra E eest sf treatment, if re~~irea, estimatea Bj the O~e~ater ana all eama~e inspeetea ana estimatea B) a lieeAsea B~ilaer ar ~eReral eSAtraeter. Seller shall paj alia eests sf treatment ana re~air ef all eama~e ~p te tRe arne~nt prs iaea in l?ara~rapR la). If estimatea essts elleeea tRat ams~nt, Bejer shall Ra.e tRe s~tisn sf eaneeliR~ tRis Csntraet ~. aa)s after reeeipt ef esntraeter's re~air estimate Bj ~i in~ ,ritten netiee te Seller er B~)er ma) eleet te preeeea lith the transaetisn, ana reeei.e a ereait at elesiR~ SR the ameeAt pre.ieea iA Para~ra~R la). "Termites" shall Be aEemea ts ineluae all esa aestrejin~ er~aRisms re~~irEa te BE repertea uneer the fl8iiaa Pest CeAtrsl het, as amsnaea. E. mGRESS 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. LBABES, ~eller sRall, net less than 1. aajs eetere elssin~, fernish te BeJer ee~ies ef all ,ritteR leases ana ests~~el letters frem eaeh tenant s~eeif)in~ tRe nat~re alia a~ratisn st tRe tenant's ese~pane), reA tal rates. aa aneea rent ana seeerit) aepssits ~aia B) tenant. If Seller is ~naBle te sBtain s~eh letter frem eaeR tenant, the same iRfermatien shall Be f~rni6Rea B) Seller te B~jer ithiA tRat time ~eriea in the ferm ef a ~eller's affiaa.it. aAa B~)er ma) tRereafter seRtaet tellants te eenfirm 6~eR iRfermatisn. ~ellsr shall, at clssiR~, aeli.er aAa assi~R all e~i~iAal leases ts B~)er. G. LJ:ENS: 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. H. PLACE OF CLOSZNG: 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. Z. TZME: 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 o~ the essence in this Contract. 5 J. OOCllMl!:NTS FOR CLOSmG: 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. 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 LIENS: Certified, confirmed and ratified special assessment liens as of date of closing Inot 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. U. IN&PEC'l'IeN, nBPAIll 1\.ND tfAIN'l'BlWJGB. Seller '.arrants taat, as sf 19 aa)S flrie, ts elesiREj', tae eeilinEj', rsef linelClainEj' tae faseia ana seffits) aRa eHterier ana interiso: ralls, feClnaatien, sea aIls ler eEl..i alent I ana aeellaEj'e ae net ha e an) YISIB1.E EVIOEIlCE af leal,s, ate, aalllaEj'e er str..etaral aa..aEj'e ana tHat tHe sefltie tanll, ~esl, all aflfllianees, ..eehanieal itellls, aeatinEj', eeeliREj', eleetrieal, fll~inEj' e)stellls ana ..aehiner) are iR WORKINC COIlBITIDtl. T"'e fer€:Ej'einEj' 'arrant) saall Be limite a te the items el'eeifiea ..nless etaeo:. ise ~re. ieea iR an aeeenaH". B,,)eo: ilia), at B..)eo:'s elE~enee, fia.e insl'eetieRs llIaae af tEese itellls B) a firlll er inei.ia..al sl'eeialieinEj' in "'e..e iRsl'eetieRs ana EelainEj' aR eee"l'atienal lieense far a..eh fl"rflsse lif re'l..irea) eo: B) an al'l',el'o:iatel) lieensee Fleriaa eentraeter. Ba)er shall, flrier te B..)er's eee"flaRe) er nat less tEaR 19 aa)S I'rier te elesinEj', ..Eiehe e, eestirs fiEst, rel'ert in ritiREj' te Selle, saeH itellls that as Ret ..eet the aBe.€: stanaares as te aefeets. URless B")er ti..el) reflerta saeH aefeets, BH)er shall Be aeelllea te Ea.e "ai ee Seller's ..a,raRtiee as te eefeets Ret ,el'ertee. If rel'airs er rel'laeelllent are re'l..irea te eelllfll) ith this Stanaare, Selleo: shall ea..se thelll te Be ..aee aRe sEal 1 I'a) "I' te the aHlaHnt flre. ieea in ParaEj'raflE IB). Seller is net re'lairee ta ..aile rel'airs er rel'laee..eRts ef a eesllletie Rat..re Hnless eaasea B) a aefeetl8eller is o:esl'snsiBle te rel'air er rel'laee. If the eest af saeh rel'air er rel'lacement eHeeeas the aJIleH"t I're ieea iR ParsEj'raflh (bl, BH) er er Seller ..a) eleet te I'a) s..eh eHeeas, failiREj' ..EieE either flart) ..a) eaReel tEis CeRto:aet. If seIIei is anaBle te eerreet the eefeets I',ier te elesiREj', tEe eest tEereef shall Be flaaa iRte esere at elesiREj'. Seller shall, afleR reasenaBle Retiee, I'reviee atalities ser.aee aRa aseess te the Prel'ert) fer iRs~eetieRs, iRelaeinEj' a allt threaEj'h I'rier te elesiREj', te seAfir~ tEat all itellls ef PerseRal Preflert) aTe aA the Real Preflert) aRa, sHBjeet te the fereEj'einEj', that all ,eElairee rel'airs aBa refllaeeHleRts ha e been llIaae ana that tEe Prel'ert), inel..einEj' bat Ret lilllitee te, la R, shraBeer) aRe fleel, if aR), Eas BeeR llIaiAtainee in tae eeneitieR elEistiAEj' as ef Effeeti.e Bate, e,elinar) .'ear ane tear e"eefltea. S. D;SK or LGSS, If the Po:eflert) is eaffiaEj'ea eJ fire er etEer easaalt) Befere elesiREj' ana eeat ef restaratien aees nat e"eeea 3i ef the assessee alaatieR ef tEe Prel'ert) se aamaEj'ea, eest ef resteratieR shall ee aR eeliEj'atiaR ef tEe Eelleo: aRa elesiREj' shall flreeeee flarsClant te the teO:HlS ef Centraet ..itE resteratien eests esere ea at elesiREj'. If the eest af resteo:atien e"eeees 3i ef tEe asseasee alaatian ef the illlflre.emBRts sa eamaEj'Be, 8a)er shall ha e tEe el'tien af eitEeo: taltinEj' Prefleo:t) as is, teEj'etheo: ritE eitheo: tEe 3i ar aRJ inearaRee flreeeees I'alaele B) .i,t..e ef sHeh less ar aalllaEj'e, er ef eaneelinEj' CeRtraet aRa reeei.iAEj' retarn ef eBl'esitlaJ. P. PROCEEDS or SALE; CLOSXNG 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. ESsaClW. M) esere. aEj'e"t ("~") "eeei inEj' f..Raa ar e'lai.ale"t ia aatfleri2ea aRa aEj'rees e) aeeel'tanee af thelll ta ael'asit tHelll ~remfltl), hela sallie in ese,er ana, sHBjeet te elearsRee, aisBarse tEe.. in aeeeraaRee ith teEffiS aRB e6~Biti6na sf CSAtEaet. Fail~Fe sf eleaFaaee af f~flaB shall net eHe~se B~)EEIS ~erfe_ffiaAee. If iF ae~st as te A~~nt's e~tie6 SF liaeilities ~flaeF tRC pES isisRB sf CSfltraet, ~~CAt ffi8), at ~~c~tls eptisR, eeAtiA~e te Hela the saejeet ..atter ef the esere; antil the flarties herete aEj'ree te its eisB..rsellleRt, er ant~l a jHBEj'ffieRt af a se"rt af eellll'eteRt ja,iseietie" shall aeterllline tEe riEj'flts af the flarties eo: A~eRt ilia) ee~esit itE tEe elerlt ef the eio:eait eeart ha inEj' j~riseietieR ef the eis~ate. g~an Retif)inEj' all I'arties eaReernea ef s..ch aetieR, all 6 liaeilit) an the :!lart af AEjeAt shall flllly terminate, eHee!9t ta the eHteAt ef aeeeclAtiAEj fer aA) items :!lre ieosl) €lalLerea eot ef asera... If a lieansea real estata erelter, ,"lJeAt ill ee"'l91) lit" !9ra.ieieAs ef Cha!'ter 1:3, F.E:. , as aRleAaaa. An) aoi t eet.,eeA Bo) er aAa Celler .."are r'lJeflt ie Rlaaa a :!lart) eeeaoae ef aetinEj aa .'.'leAt here""aer, er iA aA) e.it ..heraiA ~'leAt iAtar!,leaas the s.ejeet Rlatter ef the esera , A'leAt shall rsee.sr r"aeeAaBle atterne)s' fees aAa eesta iAe.rrea ..ith thase ameoAts ta ee :!laia freRl ana e.t ef the essrs sa fonas er s~oi.aleflt aAa shar'lsa aAa a.araael as es.rt easts in fa ar af the !,re ailiA'l !,art). The A'lent shall Aat BS liaele te an) !,art) er !,erssA fer RlisaelLer) ta BIl)er er Celler af iteHls s.ejeat ts this esera , ofllese sueh R1isasli.er) is 51.s te ..illf.l ereaeh sf CeAtraet ar 'Jress Ae'lli'leAee af A'leflt. 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 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 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 BOUND; NOTrCE: 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. WARRANTrES: 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 - - f------ - - S.W. 8TH ST. - W - -s' > z - ~ vi 4: 0 vi f- - S.E. I :r: 0 Z I I I- 3: ... z - N (f) CT. S.W. 8TH COURT - ( I w~- I s' -----,- ~ - y I vi - I I I I I I - tii - ~ f-- 9TH ST. u.! f-- Vl EHHHJ~=- I - ~ I I S.=- f--- - f--- - 0 I---- - 9TH .EHffiE~:= Q fi5 f--- ~ f--- - SWINTON GARDENp if! I---- f- . ~ I j I L..: f--- f- Vl . Vl f--- f- STREET '- !J M I II w w ,. "'NoeORT C'". IfJ > > 4: 4:f-- ... ...... . ~~. - [j ~1S ~~ ~f- :;; 13 N >-- - o z ~ f= ~~ ~ ~ WAY ~ I- O~ -' J~ G -'cc-. w s' t5 :c SE =~ Vl <.:> z z ~ :::l :i f-- Vl S. LONGPORT CIR. I f-- '-- WILSON AVE. ST. REIGLE AVENUE &ffiffi~ ] ) STERLING AVENUE CENTRAL AVE. I I ~= ~g EffiE]] :?' AVENUE ~~. -- ----- SOUTHRIDGE ROAD --I 11i== I COLLINS AVENUE '\ w I :::l J.-- Z W > 4: O'ri ..... UJ ~ 5< Q 6 ~ ~~ <r -J ~ <r ~ ~ THE ...0 (j ~ LJ (V :r: u: PLAZA I- ~C ... I AT J DELRA) "!vQ;- <",,0 - ~ , I N - LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. CITY Of oELRA Y BEACH, FL PLANNING'" ZONING DEPARTMENT -- DIGITAL BASE MAP SYSTEM -- peN: 12-43-46-20-16-000-0540 & 12-43-46-20-16-000-0550 e,,~/ 28 Boca Raton/Delray Beach News - Monday, June 26, 2006 . www.bocanews.com -0-- 6\0 QJ-S.'3 \ too ANNOUNCEMENTS ](i] L,<:,l! \utj('fS IlO11CE ol' IHIENT T01llANSfERISEU REAl PIIoPERTY NOTlCE IS HEREBY GIVEN that the City of Oelray Beadl. Florida, an- nounces i1s intention 10- transterlseN cert;ain re-al prop<<ties for affordable housing plfPOseS as part of the Com. munity Land Trust. .more particularly desaibed as follows: lOt " Blo<:k 38, Su~c:llvision or SoUlh Half (1.12) at 810<:k 38 and SUtJdimion 0' North Hall' (112) 01 Block 39. T<!wn of Union, a:::COfding to the map or plat thereol as reccnled in Plat Book II, Page 3.4, Pul)/ie Records 6f Palm Beach County, Ronda lot 11. 610CfC a TouriSt NOOk, accenf- ing to tne map or plat 1f18l'~o' as reo corded i1 Plat Book II, Page .47. AJb- lie Records of Palm Beaeh County,' FJofida lot 13. Block 21, Atlantic Gardens. ac- cording to the map or plat thereof as recorded... Plat Book 14, Page 56, Public Records or Palm Beach Countv. Ronda lol 23. Carver. Squ,a.re, aCcording to the map or plat thereof as .recordea in Plat BOOk 24,' Page 1" Public Records 01 Pak'n Beach County, Flori. Ga. lol 54, Sunset Park, _according 10 Ihe map or plal thereof as recolUed il Plal Book la- Page 65, Public Records of Palm Beach C6un1y. Fbrlda. lot 55. Sunset Park, according to the map or pfat thereof as re-con1ea II Plat Book 12, Page 65. Public Records 01 Palm Btach ColKll1. fbrida. The- South cO feel 01 the Norlh 254 feet of the Eua ,135 leet of Block 31, Map 01 Ihe Town 01 linlon, Florida. accordklg to III. map or pla,t thereot recorded kl Plat 8o)0k 1. Page J of lie Public RecordS of Palm Beach County'. Flwtda. Th. above- being tha real property deSCribed under Tax Certificate 11650. in the Tax Deed re- corded In Ot1iclal Record BooI( 11980. Page 1590, Pubtic Records 01 Palm Bea::h Col.llty, Aonda. Other terms ot the tranSfer/sale _are contalne-d In the- Contracts for Sale and Purchase belween the Clly and the COrmlunly laM Trust. R.solu- tlons of Ihe City Commission author. izing the trans'er/3:a1e 01 real proper. ties incorporating 'he lerms and con- dllons thereof, wiN be consldeced at a public hearing to be hald on July '1, 200$ at 7:00 p_m. at ClIyHalt, 100 N,W. 1st Avenue, Dekay Beach. Flor. I<la OTY OF DElRAY BEAQi, FtOAIOA By, Chevelle D. Nub., Cit\lClerk Publish The Boca Aat~nfOelra.y Beach News Mondaj( JUle 19, 2000 Monday. JUle 26,2006 ea/t O(cu,4"-L/ ce (Jat 01 tl4~ 28 Boca RatonlOelray Beach News - Monday. June 19.2006. www.bocanews.com ~ 30 _ 0 \.,.- 100 ANNOUNCEMENTS 101 Legal \otices NOllCE OF INTENT TO TRANSFERISEU REAL PROPERTY NOTICE IS HEREBY GIVEN that the City of Delrav Beach, Florida, an. nounces its intention to transfer/sell certain rea! properties tOf affordable housing purposes as part ,of the Com- munity Land Trust more particularly described as lQl1ows: Lot 1. Block 38. Subdivision of South Half (1121 of Block 38 and Subdivision 01 Nor1h Half ~ 112) 01 Block 39 Town of Linton. according to the map or pial thereof as recorded in Pial Book 1 l. Page 34. Publk Records of Palm Beach County. RoOda.. lot 11, BlocJo;: S. Tourist Nook.. accord- ing to the map or plat thereof as reo corded in Plat Book. 11. Pa'ge 47. Pub- lic Records of Palm Beach county Florida Lot 13. Block 2. Atlantic Gardens. ac. cording to the map Of plat thereof as 101 Legal \otices lecorded in Plat Book 14. Page 56. Public Records 'of Palm Beach County. Aorida. Lot 23. Carver SQuare. according 10 1M map or plat thefeo1 as recor(Sed in Plat Book 24. Page 11. Public Records of Pafm' Beach County. Flori- da lot 54, Sunset' Parle.. according to the map or plat thereat as recorded in Plat Book 12. Page 65. Public Records <ll Palm Beach Coooty. Aorida Lot 55. Sunset Part._ according to the map or plat lt8eof as recorded in Plat Book 12. Page 65. Public Records 01 Palm Beach CoUnty. Florida The South 40 feet of the North 254 feet of the East 135 feet of Block 31. Map of the Town of Unton,' Florida. according (0 the map or plat thereat recorded in Plat.Book 1. Page 3 of the Public Records of Parm Beach County. Florida_ The above being the real property described unde.r Tall. Certificate 116SQ. in the TaKOeed re.- corDed in Official Record Book 11980 Page 1590. Public Records ot Palm Beach County. FIOOda. Other terms of the transfer/sale are contained in the Contracts tot Sale and Purchase between lhe City and the Community land Trust. Resolu- tions of the City Commission auttlor- izing the transfer/sale -01 real proper- ties incorporaling the terms and con- ditions thereof. wiU be considered at a publiC hearing to be held on July 11 2006 at 7:00 p,m. at City Hall. 100 NW. 1st Avenue_ Delray Beach. flor- ida CITY OF DELRA'( BEACH. FLORIDA By: CheVeRe D. Nubin 101 Legal Notices CityCIel1< Publish: The Boca RatonlOelray Beach News Monday. June 19. 2006 Monday. June 26. 2006