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Res 34-06 RESOLUTION NO. 34-06 A RESOLUTION OF THE CITI COMMISSION OF THE CITI OF DELRA Y BEACH, FLORIDA, AUTHORIZING THE CITI TO TRANSFER/SELL REAL PROPERTI IN THE CITI OF DELRAY BEACH WHICH PROPERTI IS LOCATED AT S.W. 2ND TERRACE, AS MORE PARTICULARLY DESCRIBED HEREIN, TO THE DELRAY BEACH COMMUNITI 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 S.W. 2nd Terrace 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 CITI COMMISSION OF THE CITI 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 23, Carver Square, according to the map or plat thereof as recorded in Plat Book 24, Page 11, 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. ArrEST: 8~o~ 4. ~. ,~ S). ~'"~,~ City Clerk 2 RES. NO. 34-06 61 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), (HSeller"), and the DELRAY BEACH COMMUNITY LAND TRUST, INC., ("Buyer"), 20 North Swinton Avenue, Delray Beach, Florida 33444 (Phone: 561-276-8640), hereby agree that the Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property") upon the following terms and conditions, which INCLUDE the Standards for Real Estate Transactions ("Standard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("Contract"). I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 23, Carver Square, according to the map or plat thereof as recorded in Plat Book 24, Page 11, Public Records of Palm Beach County, Florida Property Control No. 12-43-46-17-31-000-0230 (b) Street address, city, zip, of the Property is: S.W. 2nd Terrace, 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 prov~s~ons, riders and addenda shall control all printed provisions of this Contract in conflict with them. IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) ___may assign and thereby be released from any further liability under this Contract; ___may assign but not be released from liability under this Contract; or ~ may not assign this Contract. X. DISCLOSURES: (a) Radon is a naturally occurring radioactive gas that, when accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County Public Health unit. (b) Buyer may have determined the energy efficiency rating of the residential building, if any is located on the Real Property. XI. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE X. By: 7-ts..~b :r l.f~ f'Q..rlm ~ate COMMUNITY LAND TRUST, INC. pri ~ f ~ ( 0" g .It.Jf,J5~~ Tax ID No. Sq-" 000 30i' Tax ID No. 20 - ~{Co '"2. 3> S- L... 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: S.W. 2~ Terrace, 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 Beller 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. EVrDENCE OF ~ZTLE: (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 S 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 (S) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (11 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. -.sB UElIllW IIQP,1l'SlkSIl/ SB~WY JlGaiZlSN'l! we S&~I '. l'"reReSe mefle} R1srt~a~e afld ..ert~a!Je Rete ts Seller shall ~ra\iae far a 39 sa) ~Eaee I'eriae iA the e.eflt ef eefa"lt if a first Rlert~a~e aRe a 16 ea) ~raee I'eriee if seeaRe ar lease!! R1srt~a~el sftall I'ra ise far ri~kt af I'rel'aJ"'leflt iA .raele er ifl I'art \/il!he"t penalty, skall I'el!'fllit aeee.leE'atier. if!. e eRt af tEansfe.F af t.l=le F1eal PEepe.~~} J shall Ee~i.Ee all prier lief'l. aRa. E:P.E:=wnSEBI1eeS te Be Irapt. ifl !lSSS "tafleiA~ ana fal'Bie maaifieatiefls af ar f"t"re ae. Sflees tleser priar Rlsrt~a!Je Is J / shall re'l"ire Bu) er ts maiAtaiA pelie.ies af iRs~raAee eeRtaiRiR~ a st.aRelaFs meFt~a!ee ela~se ee.eYift~ all im~FB~emeAts leaatea ea the Real PrepeEt.} against. fiFe &I eI all pe:r-ils inell:ieleel .1i.t.hiA the teFRl "e.Hte.naee sa erage efuierseffteRts" aRa Sl::lefl st-Rer rish.s afle perils as Seller RIa) rsaseRaBl) re~ire, ie afl ama"flt e~al te their hi~est i~s"ra51e .al"el afla the R1srt~a~e. Ae~e aRe aee~Eit} a~Eeeft\eRt. Bsall Be atheE..iee !..R feEm aflS eSRteAt. Ee~iFea S) Seller, ~Ht Eellef mal SRI) Fe~~iEe ela~see eHsteffiBril) fe~A9 iA meEt~a~es, ~aF~~a~e RatEs, aAa see~Fit) a'Feeme~~a geAeFall) ~tili2ea sJ sa.iR~ aAe leap. institl:ltisRS er st.a~e SF flatiaRal sa1i)ts leeatea iFi the eBtiFit} \IReFaiR neel I?f'8pert) is leeate.eL 1'.11 I'ef'sBflal Prspert) afle leases Beifl!J eSfI e)ee er a5si~flee ill, at Seller's el'tisfl, Be StlBjeet ts the lieR ef a seeurit) a~reemeflt e iaeeeee B) I!eesreea finaReifl~ state..ents. If a Ballsse ..srt~a~e, the final l'aymeRt . ill eHeeea ~he pe.~iesie payeeR~B ~ReFe8R. C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have Real Property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. D. msmSlRSr Bl:::I}eF, at Bl:1~el'.s eJE~ef\.se, itl:1.iR time alleue.a te !tali.e.!' e.iaeAee af ~!t.le aRa te eHamiRe. saffle, ffla) ha.e Real Pre~el!t) iRSl'eetea B) a rlsriea 8ertifiee Vest 8sfltrel ~eratel! ("~eratal!"l ts eete~iRe if there is afl) .i5i~le est.! e termite iRfestatisA SF isisle eJ[iati8~ aama!e fEem teFmite LflfestatisR iR tHe PFepsFt). If either e!! Bsth are fs"ee, Btl)er ill ha e 1 aa)s fre.. eal!e ef ."it'tee flstiee theresf ithin ..kiek 'oe ka e eest ef tEea~ffleAt, if Ye~i.Fea, estimates 5i ~Ae ~eFataF By-a all aama~e iflspeetea aRB estimates E) a lieeflsea a~ilaeF eF !e~eral ee~t.Faeter. Seller shall pai .alia aesta af ~FeatRlent aRa repair af all sama!€: ~p te the ame~At ~Ee.iBea iA raF&!!'apR (8) . If estimates eests eHeeea. taat affl6l::lflt, B~) Sf' snall he S tkE ep'tieA sf eaflee1ifll)" this CaRtEaet ..~5 aa)s afteE Feeei~t ef eSRtFaetsF'S Eepair estimate S} ~i.iA' \ Eittea Ratiee ta SelleE e~ Bl::l)eF ~a) sleet te p~eeeee ith t~e traflaaeti6~r aAB Feeei.e a eFeait at elesi~~ SA tRS affie~fl~ ~Fe ieea i~ PaFa~Ya~~ tal. "Te"Rlites" shall Be eeemee te iflel~ee all Isee eest"s)in~ er~aeisms "e'l~iree ta Be rel'ertee "neer tRe rreiIea Vest CeRtral Ae't, as ~eReee. E. ZNGRESS 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. P. LB&SBSI Seller shall, ~et less tkafl 16 ea)S BeESl!e elssiR~, f"FRisA te B,,}sr eSl'ies af all Il!it'teR leases aRe estep,sl letteFs frem eaea tsnaAt speeif)iRl)" the Ratl::lEE aRB a~~ati8n af ~he teRaflt:'s eeel::lpaRS), reAtal Fates, ae aneea reRt aRe seeurit) eel'esits I'aid B) teRaflt. If Selle" is "Raele ta eBtaifl sueA lette" frs.. eaeh tenant, the same. iFlfsE'iI\at:isfL s5all Be fl::lERisaea S} Eelley ~e Bl::l) Sf' .ri thiR that time pe!!'a.ea iA taB fsE'HI sf a Selle:r' 5 affiela.. it, aRe g,,)er ma) tkereafter ssetaet tensets te eSAfirm s"eh iefel'Rlatien. Seller shall, al! elesiR~, eeli sr aRe assi~e all eEiliftal leases t8 Bl::l)eF. G. Ln:NS: 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 Dr 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. PLACE OP 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. I. ~IHE: In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excludsd. Any time periods provided for herein which shall end on Saturday, Sunday or legal holiday shall extend to S:OO p.m. of the next business day. Tima i. of the essence in this Contract. 5 J. DoctJMI!:NTS FOR CLOSIN,.: 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~IONS; CREDITS: Taxes, assessments, interest, insurance and other expenses and revenue of Property shall be prorated through day before closing. Buyer shall have the option of taking over any existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through day prior to closing or occupancy if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are completed improvements on Real Property by January 1st of year of closing, which improvements were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration available exemptions. Any tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill on condition that a statement to that effect is signed at closing. H. SPECrAL 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. tl. n'SPB~I'IQU, MPAXll .MID Ul!.~_:ilioNSBI Sellel' lal'l'aets that, as ef 19 ea)S I'l'~er te elesie~, the eei1in~, reef (if\ell:!sif\~ the faseia aJui seffits) BflS euterier afll~. iFlte~ier lalle, feenaatian, sea raIls (eE E.E{1:li.alefltJ alHi eeslEa~e ee eet ha e a~) "ISIB..E E'.'I9EllCE ef lea],s, ater eama~e er stl'tletlil'al eallla~e ane tkat t~e sel'tie taRl" "eel, all al'l'lia..ees, meehanieal ~tems, keatifl~, eeeliA~, eleetl!"~eal, I'l....ein~ s)stems aee mashi~er) are ie {)ORKINC CEltI9ITIOIl. The fel'e~eif'~ al'rant) shall Be liR>l.tee te the ~te..s sl'ee~f~ee Ii..leBs ethel'.l~se 1'1'B ieee if' aA aeeeneum. B~)eE ffia), at BH)eE'S eJ~e~se, he e ifls~eetieR9 maae af these items B} a firm BZ iFlai\ia~al s~eeialiEifl~ ifl haffie ieSl'eet~Bf'B an~ helei..~ a.. eesel'atieeal l~eenBe fBl' stleh I'lirl'ese (if l!"eqeiree) el!" a) an al'l'rel'l'iatel) l~ee"Bee rlal'~ea ssetl'aetel'. BIi)el' Bhall, l'l!"iBl' ts BU)el"B Beeel'a..e) el!" net less teaA 19 ~a)e I'l'iel' te eleB~e~, hieke er eee~~9 first, EepaEt in \ritiR~ te &eller s~eh i~e~s that aa ~et meet taB aeB e s~aRaaFas as ~e aefeets. YRles6 BHjer timel} F~~eEts s~eR eefeets, SHier skall Be aeemea te aB e oai.ea Seller's lBEEBfltiea as ts seEaele Ret l!"el'a~~ee. If l!"el'ail'B e~ ~el'laeeme..t are l'equil'ee ~e eempl) .ith teiB Sta..eal'~, Sellel' shall ealiBe tkem tB ae ..aee a..e Bftall I'a) lif' te the ameli..t I'l'e iee~ ~.. Pal'agl!"al'h (a). Sellel' is eet l'aqliil'ee ta malEe l!ef'ail!"B el!" FeplaeemeRts sf a eee~etie Aa~HEe ~nleBB ea~sea S} a aef~e11eE is respsAsiale ~e Fe~air SE replaee. If tfiE. eest af seeR rel'ail' Bl' l'eplaeemeet elleeeas the amelint I'l!"e ieee i.. Para~ral'll (al, BIi)el!" ar Sellel' ma) elest te I'ay Btleh eneeBS, failin~ ,hiek e~thel!" I'al't) mal eaneel thiB Ce"~l!aet. If seIIei ~s tleaele te eerreet tHe eefeets I'riel! te elBBie~, the eSBt thel'eef ehall ae I'ai~ ~..te esere'. a~ e1sB~"~. Seller shall, ul'e.. reasBRaele ..etiee, '!If'e- iae ~tiliEiee seE' iee anel aseess te tRE PYspert) fs:!' iAsr;,eetisF15, inell:1eiiRIJ a .181][ thr81:1!h prier ts e:lesiRfJ, te eBnfil'm ~hat all itemB ef Pel'senal PrBI'el!~) al!"e e.. the Real PEel'el!"t) ane, sliajeet tB tile fBEe~eiR!l', that all reqeil!"e~ l'el'airB a..e rel'laeemsetB ha e aee.. IIlaee a..e that the Pl!"al'el'~), ~esleeie~ etlt Aet lim~tee tt, laL A, ShEliSsel'Y ae~ l'eBl, if a..), has aeeR maintaiRee in the eeee~t~e.. elliBtie~ aB ef Effeeti.e Sate, Breiear) eal!" aRe tear eneeptea. e. nzSK QF LQSS. If ~he Pl!sl'el't) ~s eama~ee B) f~l'e el' ethel' easlia1~y aefBEe sleBie~ aR~ eeBt ef reBteratien eeeB "Bt ellsee~ J\ ef ~he asseBsse .altlatiae af the Pl'el'ert) Ba eama~ee, east af restel'a~ie.. shall Be ae eali~atieR ef the Eeller aRa sleeiR~ ekall presses p~Es~a~t ~e ~he EeEffiS af CeA~E'aet ith resteEatieA sests esers\ea at elesi~~. If tRe eeat af rastsrstisR eueeeas J\ sf the assessee al~atien sf ~Re impFe.e~eRts se aamafJea, B~)eE BRall ha.e tke Sl'tiBe ef e~theE ~al,ie~ Prel'eEt) as iB, te~e~Rel' ,ith e~thel!" ~he 3\ el!" an) i..eUl!"aAee I'l!"eeeees I'a)aele a) .~rtue sf s~eR lass SF elama~e, eE af eaReeliRg CeR~E'ast aRa Eeeei.iRfJ retHEA af aepesit(s). P. PROCEEDS OF SALE; CLOSIN,. 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 ~roperty 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 Dr 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. Q. BSsa9W1 Afl) eeeZBl a!ent ("~"J Eese! iRg f~Aas BE e~ti! alent is BHtasrieeel a~a agFees 6~ aseeptanee ef theM ta eiepesit thaRl p:r:BIRl5't1:t, :Bela. saRle iFl esefe r aHel, st:H3jest te elea:r:sReer eiisBliEse tFi.e.1F. iA aeesFaaflse rita te~ffiS SAB eeflaitiens af ~sRtraet. rail~Ee. af elearaflse af f~Ras shall net eJIeHSe B~}eF'S ~effeFmaRee. If in aB~st aa te "S~~'B eiaties eE liaeili~ies ~~Be:r: the l5'Ee.isiB~S sf teR~Faet, ~~ent me), at ~!eAtls Bl5'tis!FI., eeAtin~e ts hela the saejeet Rla~te.F e~ tHe aseFBr ~Atil tae ~aEtieB ReLate a~Fee ~e its eiise~Esemeflt, BE ~fltil a jaa~RleRt sf a eelir~ Bf eBffiI'etent jtll!"iseietien Bhall aetel'mine the ri~htB ef the I'al!"ties er ~~ee~ ma) eel'asit ith the elerl, ef t~e eil!"e~it eeUl!"t Ra i..~ jUl!"iBeietie.. ef the aiB"lite. 9"ee ..etif)i..~ all I'arties ae..ael'~ee ef s~ek aet~en, all 6 lialailH.} en HIe ~art ef A!lenlo shall fdl} terRliRate, ellee~t te tile ellloeAt ef aeeeuRtiR~ fer aR) i teAls !,re. ie..sl) eeli eree etlt sf eseEe . If a lieeeeee real estate ere],er, )\~ent ,.ill eelllf'l) .Iitk I're isieRs ef Chal'ter 17~, LE. , as ameeeee. An) stlit Bet een Su)er aRe Seller Ilere ~!leet is maee a I'art} aeeatlse ef aetie~ as A~ent heretl~ee:c, e:c iA afl) 5~it \1BeE'eiFl JI..~en1:. iRteF!!leaas tHe staejeet. matter sf tke Baers.., A~e.flt sRall ~ee6 eI' reas6Aa131e attsEAe)31 fees aRe eests inetlrree .lith these ameunts te Be ~aie frem ane SlOt ef the eserelee ftlRes er e~tli.aleRt aRe eha:c~ee aRe a areee as se..rt sests in fa.er sf the !,re.ailie~ ~art). Tke A~ent shall eet Be lialale te aR) I'art) er !,ersen fs.. AliseelLer) ts Stl)er e.. Seller ef items s..e~eet te tkis esere\1, "RIess sueh miseelLer) is eue te .illftll a..eaeh ef Ceetraet er ~rsss "e!lli~snee ef ~~eet. R. ~RNEY 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. ~ NOT RECORDABLE; PERSONS BOORD; NOTXCE: 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 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. ~rES: 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 ~ III \ .1111 IIII l0IJ1 Iii I AMocol I III NO.1 I IL ATLANTIC A VENUE U [ll]]J]llll] 0IJIllJIill ~ ITIIllIIIlll L ~ - I-L--- - - ~,.---- - - f----- ~ W I- - ~ f----- _14: > f- l'i - ~-< < w ~- w w > <( r-- > > - < < < < r--- f-- - r--- - t- - r------ . I---- - f--- - .W. 1ST - - I - - -;E I- - - Ol - I--- --'-- :r: :r: I- ~ - f--- - ~ f--- I--- f-- f-- ~ - I--- :x: - I- - f--- <Xl I- - :r: :r: l- I- - f-- <D II .,. I--'- I--- - I---- ~ II I--'- f--- - I--'- vi llF I I--'- I--- - f----- I I t- I-- I--'- - f----- - '--- L-- - '--- 2ND - .----- L ffim III I I - f----- I-- - --r - I--- r-- - :oj I-- -. - ~ ~ I--- I-- 3: I--- - If If) (J) .ffiEB I--- f-- - I--- I- ~ ~ '--- - ~0~ vi vi - lflr-yr- r-- I - I - - /"'/ ~ . IJt III II I - I--- ....- 3RD ""- .JIF aIDJ UWJ ~ I"""""" I w ::> - z ~ ~ - f-- - I--- vi < ,---- I--- - I--- . l- t I I I I I I I I S.W. 3RD CT. - - - - - I.. - - - - C - - - z - - a:: - --:- ]~ om I- ::> II - - T== lD - - ::> - < ~- S.W. I J1 II ~ - - I-- I - - - r--- ~ AUBURN CIRCLE NORTH - I-- )) - fT I - I- W VI > ~ < > < w g ....J () 0:: wi U > N - LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST. INC. ) aTY OF OElRAY BEACH. FL PLANNING '" ZONING OEPARTIolENT -- DICITAL BASE MAP SYSTEM -- PCN: 12-43-46-17-31-000-0230 CONTRACT FOR SALE AND PURCHASE PARTIES: CITY OF DELRAY BEACH, a Florida municipal corporation, 100 N.W. 1st Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), ("Seller"), and the DELRAY BEACH COMMUNITY LAND TRUST, INC., ("Buyer"), 20 North Swinton Avenue, Delray Beach, Florida 33444 (Phone: 561-276-8640), hereby agree that the Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property") upon the following terms and conditions, which INCLUDE the Standards for Real Estate Transactions ("Standard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase (" Contract" ) I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 23, Carver Square, according to the map or plat thereof as recorded in Plat Book 24, Page ~~, Public Records of Palm Beach County, Florida Property Control No. 12-43-46-17-31-000-0230 (b) Street address, city, zip, of the Property is: S.W. 2nd Terrace, 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 i 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. Date COMMUNITY LAND TRUST, INC. ~ f <f> ( 0(.. ,,}(),J g. Lt.JI,JS~Jj CITY OF DELRAY BEACH By: Print Name: Tax ID No. Tax ID No. 20 - Ltl Co -Z- ~ S- '- 2 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE SELLER: CITY OF DELRAY BEACH, a Florida municipal corporation BUYER: THE DELRAY BEACH COMMUNITY LAND TRUST, INC. PROPERTY ADDRESS: S.W. 200 Terrace, 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 bya 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 publ~c records of the county wherein Real Property is located, through Effective Oate_ 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.. r.f title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(sl. 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 (S) days after expiration of the thirty (301 day period, deliver written notice to Seller either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of deposit (s) paid which shall immediately be returned to Buyer. If Buyer fails to so notify Seller, .Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit (s), thereby releasing Buyer and Seller from all further obligation under this Contract. B. l'UllCW\.CB !1Ol1mC !f()R'1'CM:B I CECURI!I'Y ACI1EEIlE:!lT TO CELI..EI'. :-. purehase ..aRe) Blertfj'a~e aRe ..art~a~e Rete ta Seller shall I'"a iee far a 39 .Ela) ~:caee periae iA the e eAt ef aefa..lt if a first mertlJS'J8 afta a 15 eal ~raee I'eriee if seeanEle:c lesse:c Blertfj'a~el shall ~re.iee fa:c ri~ht of I'rel'ayment iR .hale er ie I'art _itheat I'enalty. shall peElOit aeeeleratisA iR C CRt at t~an5fer af the Reol rropcrt}l shall re~Hirc all ~~ior lien aria tRc~mbr3flccs to be kept in .,eeel at3.f'ldifHj afld fBl'l3ia. msaifieat:iens af or f\:lture acl.aRcc9 1:lFlaeE" prier ffiert'9agc (5), shall re€fl::lirE: Bld) E:.r ta fflaiA~aiR palieiea af iflsuranee eeRtaiRiR~a 5t~ridard mert~a~ee ela~sE:. ce eriag alli~ce.emca~518eated.-aft the Real rrBf3ert.) a~aiA.5t: fire al-uI all pcril~ iFlclHaea \ ithifl the term "eJ[teFlae.el ce era~e CPlelsIscmE:.nts" aRa s1:Jeh etfiE.f' rislw aRa perils as Seller ffl3} rea5eRabl~ re~iEe, ia aA affieuRt e.~al ,te their Highest i~suIable ;al\1c, aAa the mert~a~e6 Plete. aRB see1:lEit} .:lgreCfRcnt sh;:J.l1 be ether~iae 'if'l forfft and cOfltcnt rE.<f11ir.cd hi SelleE,," b\:lt Celle.r ma)6nl} reql:Jire elatlsl!:s el:Jstsmaril} fauna. ia Jft~rt.EJa~e.5, mert~a~e: nates, aRB 3e.CH~it.} agreeme.f\ts ge.ftcralI)"'Htilizc'd b) 5a~iag aRa lean iRStit1:ltiofl3 er state ef' Rational eanlts leeatca iA the eauat} ~flerE:.ifl Real rrepert} is locate:a. All PersBflal Prepect) aReI lea:Jcn bcinCj caFl.cSea er .Zl5si~Rea rill, at Seller's aptian, be subject te the lien af a seel:Jrit) a'!JreelllE:fl,t e. iscf'lecd "hi reeerele.a fif'!.afleiPl~ statements. If a balleeR ffi6Lt~al3e., tl=l.e. fiFl.al paymeFlt ill €:Jtceea the: periodic pa}~eRt5 theresa. C. SURVEY: Buyer, at Buyert s expense, within time allowed to deliver evidence qf 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. ~gTE&. B\1)er,. at. BH)er'S eupeRBc, ..:ithifit.ime all8wea t-a EI€:li.c~ e.ielE:Aee sf title aaet te" E.HamiRe saffle, 1M) "a,e Real Prapert) iespected j,) a r-le:ciEla Certifiee Pest Central Ol'erater ["Operatar"f te determine if there is afIj1 isiBle aetLe ter..ite infestatien er isij,le eJ[istin~ ea..a~e f:ca.. ter..ite iefestatien in the Ptapert).. If either ar betA are fetlnEl, Stl)er ,ill aa.e 1 ea)S f:fam eate ef _:fitteR eetiee thereaf ,;itlde nhi"h te ha e east ef treatment, if requi:ced, estimatee B) the Operater aAe all dama~e iRsl'eetee ane estimatee Bl a lieenseae.ileer or general esntracter. Eel1~r shall P~} alid casts ef treatment and repair sf all a.3ffia~e ~~ te t.R~ affiauflt ~Le.iclea iA Parafj'raph _ [a) _ If estimatee "ests eJ[eeee that ame.fit, Sll).er shall "a.e the el'tiefi ef eaeeelin~ this Centraet _ithie 5 ea)S after reeeil't ef eeet:caeter's rel'ai:c estimate B) ~i.in~ w:cittee eatiee tB Selrer er BlJ)er 11\8) ileet te praeeed ith the. trafisactisp\, aRB reeei.it a ereElit at elasiA':J a-PI t.hE. am61;lRt: pce' ielcs.'-iR l?a.l'a':Jra~A (a). "Ter..ites" Baall Be eee..eEl te inelaee all ,eea eestre)iAfj' er~anism5 reqtliree te Be repertee uneer the rrecIea Pest CaRtrel ~et, as amenElee. E. XNGRESS 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 whicb is in accordance with Standard A. F. LBASES. Seller shall, eetless th",. IS ea)S hefsre elesie~, furnish ta B"~er eepies af all, ll'ittee leases and estappel letters fre.. eaeR teRaet sl'eeif)ie~ the ea~.re aAe EI"ratiee ef the tenant's eeeapaee), reAtal rates, ae aAeea reet ane seeu"it) eel'esits I'aie'j,) tenaflt. If S_lleris ""ahle ta e.B~aiA stleh letter fEe.. eaeh teAant, the .sa~e iflfe~atiee shall hefarAisneEl h) Seller ta B~)er _ithin that tiMe I'eried iR the fer~ af a Seller's affiEla'it, ae~ B~)er ..a) thereafter eentae~ teflaflts ta eenfir-m 5tleh iefermatien. Seller shall, at elesin~, eeli er aeEl a5si~A all ari~ieal leases te B,,)e:c. G. Ln:NS: Seller sha.ll 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 affinming 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. 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.. 'rIM!!:: 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. DOCUHEN'l"S 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, charg,es 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; CREDrTS: 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 b~ credited to Seller. Taxes shall be prorated based on the current year's tax with due a110wance made for maximum allowable discount, homestead and other exemptions'. If c10sinq 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 millaqe~ If current year's assessment is not available# then taxes will be prorated on the prior year'" 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. S~CXAL ASSESSMENT LXENS: Certified, confirmed and ratified special assessment liens as of date of closing lnot as of Effective Datel 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 Dr 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. nlSPBCTIOU, REPAIR l\ND UAIN'l'ENl\!ICE. Eeller arra..ts that, as ef 11l E!a}s p:cier te elesiR~, the eeilie~, reef (il\elt:ldiRlj the faseia ~fta ssffits] afHi e.nteria~. aRa iRt.E:ri~r \1311::1# fel\1Reiatien# 3c~ua115 (flI" eE{L:Ii aleRt) and E!eel,age ee Rot ha- e ae) "ISIBLE EVIDENCE ef leal,s, later E!affla~e er struet.ual aa...a~e ana that the sel"tie taRle, peel,. all.applianee3, Hleeh..J.nieal items, heatiflEj# e:eoli,f'l.g, eleetrieal, f11~inlJ ~}5tefft5 and fRae~if'lcF) au> iR ~10NUtIC COImITHlII. The fore~ein~ . arraet} shall ee limitee te the items 5l'eeifieE! ....less ether. ise pre.ideE! iR afl aedefl6tlfll_ Eh:l)cr lII.a}, ,at Bu)cr1s eJt!3eR5E:, ha."e iflspectief15 maae af these item..:; B~ a ii-em or iftdi.idl1al 5peeiali~iAg: ifl hemE. ift"l'eeteiens ane heleie~ aA eeeHpatieRal lieeese fer stleh purpese (if re'fHireE!) er e) afl apl'ropriatel) lieeesee rleriaa eeFlt~acter _ D1.:].> eE shall# (3ris.E' te 13\:l} er' 5 eeetlpafl8) BE Rot le,S:9 thaH lQ da) a p:ciBr ts elssiAlJ, t hiehe. cr eeeurs first, rcpart 1ft \lritialj ta Ce.ller 5~ch items that ae net meet the aaa.€: standards as te Be-feet.s. YAlE-S5 Ba=re.r timeI} Fe-perts .sueh dcfe.E!ts# Bl:ijer shall Be. deemca: te haw!:. \laive.a Ce.ller'la \:arcaAties as tEl ele.fe.ets Hat r:e.pert.ed. If rcpaL:E"~ er re.plaee.mE.flt a:ce.re.quire:.el te eSf&J31} ,,1 th this Etaaaarel, Ee11eE SR.:lll ea\:1se t.hE-JIII La Be lRaae. a..E! shall I'a) "p te. the allleuAt I're. ideE! in Pa:ca~raph _ (e). Seller is net re'l"i:ced te HlalEe repairs er replaeclfte.f1t.:s- af a eS9Rlctie aataIe. \:lfl1c:J3 ca\:lse.el B::t a aefcet E:e.l1er is rc.speasilile te rEpair er rCl31aee. If the cast. af suca repair 61: EeplaecmcRt E:][ee.e.a3 the ;)JfI.611Rt 13re'l',:iEica ifl f'aEa13raph (b) ~ 1311)c.r or Celle.r maj elf-e.t'ta pa) sue" eneess, failiR~lhieh either I'a:ct} mal eaReel this Centract. If GCTIE:>: is tlna13le to eerreet the E!efeets r.n:ier t.e elesiRlj, the. eost thereat 5ftal1 be. paid iftt.e .C5cre at clesifly"_ eerier shall# ~pefl :n::asBRaale. flstiee, previae utilities 5crnice aRa access te t.he Proper!} _ fer iRs_pee-tieRS, iaell.:leliRfj a 1,..alk thrSl:1f}R prier te elssiag, to eeefirm that all items ef Persenal Prepert) are eR the Real P:cel'ert) ane, sUBjeet te the f8re~eiA~, that all :ceql::lireEl rE.l3air3 aHa rC:{3>laeclftcRto ha.e Bee-a maaE. aRB that the. Propcrt}, incl\:1c!iFH} D\:Jt Rat liffdte6. te, la A, shraeeer} aHa peel, if an}, has beeR ffiaint.aincd is the eeRaitien cuintiRg as ef Effccti.e. Date, eraiflar) ear and tea" eHeel'teE!. Q. lUS!: OF. IRCS. If the P"epert} is aaRla~eE! e) fire. er ethe" eas..alt} eefeEe elesi..~ aeE! east ef "esterat.iee E!ees fleteueeee 3\ ef the assesseE! ,ah.atiee ef the. i'rel'ert) se Eiama~ee, eest e.f resteratie.. "hall be ae eeligatieR ef the Seller anE! elesie~ shallp"eeee~ p~rs~ant. te~e te~ sf Ceet"a"~ ..i~ resteratie.. eests esera .eE! at elesing. I f the eest ef resteratien eHeeeas 3\ ef the assesseE! . alHatieti ef the iaipre :8Jlleet". se aaRla~ed, BH)er shall ha. e the eptiee ef either tal,ifl~ Prepert) as is, te~ether ~ith either the 3\ er an} iftstlranee preeeees I'a~able B} .irttle ef s..eh less e" E!aHlage, er ef eaeeeliA~ Centraet a..E! reeei.in~ re~Hrn ef E!el'esit(s). P. PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title uClI1larketable frOlll the date of the last evidence. All closing proceeds shall be held in escrow ,by Seller's attorney or o:ther 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 sucb notification to cure the defect. If Seller fails to timely cure the defect, all deposit (sl 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 tak.e title as is, waiving all rights against Seller as to any intervening defect except as may be avai.lable 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 627.7641, F.S., as amended. Q. EC~f. Aft} eeere~ a~eet (.~.) reeei~in~ f....es er e'lui ale..t is aHtherieeE! aRE!a~rees B} aeeeptaeee ef them te 6cpssit them premptl), held same 1ft Escre. aaa# sabjeet te eleaFaBee~ aisbaEse them in aeceraaflee w~th ~erm5 aR~ eeasitieR5 af CaR~raet~ railaie af elearaRee- af (HflBS shall net euseac Dll~er'B perfeEmaflee. If ifl dau~t a5 te Ageftt's 6Hties e~ liabilities ~Raer the pra.iaisRs af CeRtraet, A~el\~ ma)# at A~~"E'::I e~~~en, eentiR~e te helE! the s~jeet Hlatter ef the eserel ..ntil the parties he rete a~ree tee its Bise.."sement, er ..etil a jtlE!gmeAt ef a "etlrt ef eeRll'etent j ..riseietiee shall aete_i..e the ri~hts ef the I'arties er A~eet ma) E!el'esit .iteli tJ;e elerl, ef the eiceHit eaHct ~a iRlj j~ri5aietieR af the dispute. Upea fletif)iR~ all par~ies eenccrflcd of 5Heh astian, all 6 liaeilit} ee the ~art ef Al}eet shall f~ll) termiAate, elEccpt te the eHteet ef aeeeuetiR~ fer ail) items I're ieusl~ Efe.li.ere:a. 6"tit af esere"~ If a lie-e.ASe.S re.al t.stat:e. bralleI:, 1'~'!Jf;.F1t. lill ee.lftPl:. tJith pre.iaiefls af Ch.apter 1.75.. r.s.s as ame.fLaee. 1\.n') 5Liit bet leen Bu:"el' 3fUi Eelle.r r)u:.re:. ....ge.flt i3macle a '(3aI:t} se.c3l::lSe af aetifl~ as .'\ge.A't hf:n:~fleleF, er ift aft) 5~it .hereiR ^ge.nt iRterpleads the 3Hsje.et matter af the C3cro., ~~e:.flt shall re.ee e.r reasBA3ele atEernC)3' fl::es aftd casts iflearrea. lith thesE. amBl:lRt.s te Be paid from afle1 6\1t af tRE:. eSC.l'8 eet fURd,:) Br E.q\:d .aleRt aA8. eHB.rgcd and a~ara.e.a 35 ee~rt eests iFl fa.er af the. pre.ailifl~ part)_ Tne ~gcnt 3h311 flet. be. liable te ~A) ~art) Sf" perSBfL fer fBisdeli..-eE) te Btlje.r aE f:elle.r af itefPa 3ubjeet te thi3 CDCrO\., uflles5 StlCR misae.li...crj i3 a1:JE. ta ill~ul breaeh af CefitEaet Br ~reS5 fl~~li~cAee sf A~e~t. - R. ATTORNEY FEES; COSTS: In any litigation, including breach, enforcement or ~nterpretation, ar~s~g 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 non agency relationships authorized by Chapter 415, 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~: 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 ~nder 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 [or 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 suc~essors 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. O. CONVEYANCE: Seller shall convey title to Real Property by statutory warranty, trustee' s, personal representative's or guardian's deed, as -~ppropriate 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 maybe 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. WARRANTIES: 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 ~ 1\ I IIII \DIT I I, I AMOCO III .1 NO.1 I L ATLANTIC A V E N U E U rnIIIllIill _ 1- I mIl]]] L --L- ~ - - f- - W W .- - I---- > > - <c <( <( w ~- w w > F.cf-- > > <( <( <( <( r--- f-- f-- ~ - - - - - - - - - I--- - -I-- '--- - - '---- 1ST -- .w. - ,.---- c--- - I - - I--- ~ f- ~ - en - I--- - r-- r r . r - -I - f- r ~ 0 - f-- ~ - I- ~ - <0 Ii=' - I I r r <0 II V :s: II vi rTlF I 1 - I r- 2ND r---'- r--- - l ffilE Jill Jill I I---- I--- - IT I---- - - ~'O: - - '--- . :i :s: ,---- 3; vi_ en vi :i U .EfIEB I--- I r - I--- - - m :i :i 7/f~ - - - - vi _vi r--- - en 1l~. I--- - I--- I---- ~ I rr f-- ~ III II - W.L-- 3RD "ll J I II [llIJJ Will ~ - I I w ~ . - :i z ~ - vi <( - - l- I - - f--- S.W. 3RD CT. - - I - - ~ - - - C - - - - - - - z I-- 0::- - - ,----,-- ~ :11 I II II - I == ~- '--- - - - f--- -'-- - <( '----' HI-I S.W. I II I I - ~ - - I--- . I f----- - ~ ~ - - AUBURN CIRCLE NORTH - - n- Il - r )~ ~ UI ~ ~. <( <( w g -' ~D D U a::: U N - LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST, INC. ) OTY Of DEl.RA Y BEACH. Fl I'I.ANNlHG de ZONING DEPARTMENT -- OICITAL BASE MAP SYSTEM -- PCN: 12-43-46-17-31-000-0230 ~ c~ M , Writer's Direct Line: 561/243-7090 MEMORANDUM DATE: June 8, 2006 TO: City Commission David T. Harden, City Manager FROM: Terrill Barton, Assistant City Attorney SUBJECT: Authorization to Transfer Property Located on S.W. 2nd Terrace to the Delray Beach Community Land Trust, Inc. PCN: 12-43-46-17-31-000-0230 Attached to this memorandum please find Resolution No. 34-06, 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 \C,0 RESOLUTION NO. 34-06 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 S.W. 2ND TERRACE, AS MORE PARTICULARLY DESCRIBED HEREIN, TO THE DELRAY 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 S.W. 2nd Terrace 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 trans fer/ sell said property for the purpose described above; and WHEREAS, the City Commission has determined that the transfer/sale of the property described above will promote the general welfare of the residents of the 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 23, Carver Square, according to the map or plat thereof as recorded in Plat Book 24, Page 11, 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. ATIEST: 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 (UStandard(s)") on the reverse side hereof or attached hereto and riders and any addenda to this Contract for Sale and Purchase ("ContractU) I. DESCRIPTION: (a) Legal description of the Real Property located in Palm Beach County, Florida: Lot 23, Carver Square, according to the map or plat thereof as recorded in Plat Book 24, Page II, Public Records of Palm Beach County, Florida Property Control No. 12-43-46-17-31-000-0230 (b) Street address, city, zip, of the Property is: S.W. 2nd Terrace, Delray Beach, Florida 33444 II. PURCHASE PRICE $ 10.00 III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or before August 1, 2006, the deposit(s) will, at Buyer I s option, be returned and this offer withdrawn. The date of Contract ("Effective Date") will be the date when the last one of the Buyer and the Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. IV. TITLE EVIDENCE: Within thirty (30) days from the Effective Date of this Contract, (CHECK ONLY ONE): _Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorneYi 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: comprehensi ve land use plans, zoning, restrictions, prohibitions and other requirements imposed by governmental authoritYi restrictions and matters appearing on the plat or otherwise common to the subdivisioni 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 prov1s1ons, 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. By: 4> ( <6 ( oc:. "' } U,J }?. G:..J I ,JS$~ Date Print Name: Tax ID No. Tax ID No. "2..0 - ~, (Q -z.. '3> ~ L- 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: S.W. 2M Terrace, 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: (I)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 ownerls 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. rf 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 defectts), failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of deposit (s) paid which shall immediately be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefor. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit (s), thereby releasing Buyer and Seller from all further obligation under this Contract. B. PUaCHMiB ltm~ lIOR'rCASB/ SEClmI'1'Y l\.CIlEEIlEU'l' TO !:ELLER. 11 ptl"ehase ..eRe) lI1e"tl}a~e. ane /Ilert~a~e flete ts !:eller shall I'rs-ide fer a 39 .eay ~raee periee ie tke e eet af eefa~lt if a fi"st mertl}a~e aRd a 15 aa} ~raee I'e"iee if seeaed e:c leeser lIlert~a~el shall I're iee fer :ci~ht sf I'rel'aY'"eet iA . hale sr in pa:ct witheut I'eflalt)/ shall I'ermit aeeeleratieR iA e.eAt at trafl3f~r af the Real Prepert), shall re~iLe all ~rieE liefl aRa eRc~ffiBraneEs te be )te~t iR l}eee etaRein~ aee fe"Bia ..odifioatiens ef ar futtl:ce ad.aRees ~eee" prie" me:ct~a~e[sJI skall :ce~tli"e Btl)e" te maifltaiA ~eliEic3 sf ifl9~r&.cE c8flt3iniR~ a staRaard mortgagEE c13use Ee.ELifi~ all impr8 emcnts leeateasR thE Real r:E'epeFt~ again3t fire and all perils il"l.cledc.d ..ithifi the term "e.ute:aEieel 86. Era!}€:. ehaBEsem.ents" aAd sl1eh etl=LeF risl(s afld ~e~ils as ~elleL ma) rea3oflabl) require, in aft amauflt e~al te taeir highest inaaFaBle -.eIHE., and the ffiert~age~ nete BRa aeeurit} a~LeemeAt ~hall be etherlise ift ferm aRa C6fitCRt required B) Eellcr, BHt EelIer m~y 6Rl} Feq~ire elalOses etl"toHla"il) feueG ie 1Il8"t~a~es, mert~a~e eetes, aed seeurit) a~"eemeRts ~eRerall) utilizee B) sa.in~ aRe lean iRstitlitieA.9 SF state ar RatisRal aan)ls leeatea. ifi the Cat1Rt) .lhe.reiR Real Prepert} is locatea. A.ll l'erseRal Prepert} BRei le.a.:iEs beiRg eaR Cie.d. SF assi~flea .,i11, at EellEr's eptieR, Be slHsjeet te the liE:F1 af a seel;l:rit:-, a~ree8\eflt e ieleflcEB e~ recorded fin.J.neiFl~ statemcnts. If a balle8R Rl6rtEJa~e, the fiRal (3aymcflt ..ill E:Heee8: the perieaie paymcat5 the.reefl. C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have Real Property surveyed and certified by a registered Florida surveyor. If the survey discloses enCroachments on the Real Property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. D. TBiRUITEE:. Dl::I)er, at Bl:3ye.r's E:HpeFJse., nithiA time. aIle ea toe aeli.er e.iele.Aee. ef title aRa t.e- eHamiAe same, ffi,a} ha e Real Prepe"ty iRs~eetee B) a ~lsriGa Certifiee Pest Cafltrel ~erats" C"Ope"ate:c") to eetermiRe if the:ce is afl} ~i5ihle Beti.e tErmite infestatisA a1: isible eHi3tiA~ aama~e frem teEmite iAfestatisR in the Prepertj. If either er beth are fetlRe, Btl)e:c ill ha e ! ea)3 f:cel1l aate af \ "ittee eetiee thereef .,ithie \/hieh ta ha e eest ef treat.ffieat, if Le~ire.a, eatimate.a b) the ~erater aRa all aamaEje ifls~eetea aRa estimatea 5J a lieensedbailaer er ~eRe"al eeflt"aots", Selle" shall pay alie easts ef t"eatmeRt aee repai:c af all dal1la~e 101' te the aHlouet I'"e i~ee ie Pera~raph (a) _ If esti..atee eests eJ<eeee that ameuAt, Btl}e" shall ha.e the efltiae ef eaeeelie~ this CeRt"aet ~5 ea}s afte" reeeil't ef eeRtreeter'. rel'ai:c esti..ate B) ~i.ie~ ritteR eetiee te Seller er Bu)er Ma~ eleet to praeeea ita the tran3actiaR, aRB reeei.e a eredit at elasiR~ SA the amsHnt pre i~eaiA rara~rapA lal, "Tc:cmites" skall Be dee..ee te if\eluee all \leefl eestre)ie~ er~aRisl1ls re~..iree te Be repertee tlf\eer the FIeiIaa Pest Cefltrel Pet, as ameeeee. 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. L&M::ES. Seller shall, est less thae l~ e3}S Befere elesifl~, f""Rish te Bu)er eepies af all \."itten leases afle esteppel lette:cs f"e.. eaeh teAaet speeif) in~ the nattl"e aRe dtl"atiefl ef the tenaAt' s eem/flaee), "eetal J'atees, ae'aRee~ rent an~ seetl"it) depesits I'aie B) tef\ant. If S_ller is ..naele ta aBteaie slOeh letter f"em eaeh teRSf\t, the sa..e iefermatien shall Be fureishee 5) !:ellc" ta Btl)er .ithie that time ~e"iee ie the feEHl sf a Seller's affiea it, aed Btl)er l1Ia) thereafte:c eeRtaet teRaRts te eaRfiEHl s..eh iefermatiefl. Seller sRall, ate elesie~, eeli.e" ana assi~R all ari~ieal leases te Btl)e:c. 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. B. 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 th~s 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. PRORATXONS; CREDXTS: 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 LXENS: Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered as certified, confirmed Dr ratified and Seller shall, at closing, be charged an amount equal to the last .estimate of assessment for the improvement by the public body. It. nn::PECTHlU, REl?Am Nltl Imnl'l'EllANCE. Celler ,'arraRts that, as ef lQ da)s prier te elesie~, the eeiliA~, reef lieehldie~ the faseia aRd seffits) aAe eHterieJ; aee interier aIls, feuedatiee, sea\lalls (er e'ltli aleRt) aRd deeka~e ee Ret ha eaR) "ISIBLE E\'IDE!lCE ef leal,s, ,ater B.ama~e er struetural daf1\a~e ane t;,at the sEptie taek, fleel, all a.ppliafiees. meehaA.ieal iteRls, ke.atiJ"Hj, cesliflfj, e.le.etrieal, 131WRbiRlj 6~ste.Hl3 aAd macfiiRcr-,J' aLe. iA U9flKIllC C81H1ITIOIl. T;,e fere~eie~ 'a:c:caRt) s;,all ee lillli tee te the items speeifiee liAless ethenlise I're ieed in an aeeefletlm. B~)e~ ~a}~at Ba}E::r's eltpeRse, ha e iflSpcctisA5 made af these item3 ey a firft BE' iadi.iatlal 5~Eeializifl~ iR ~e~e iespeetiefls aee heleie~ aA eeeupatienal lieeese fer sHeh I'tlrl'ese lif re'ltlireeJ er ey an "!"I'rel'riately lieeFlseel rlerida eeRtraeter~ B~}er shall, prier ta Dtl)er's eeeHpaRe~ er Rat less taaa 10 aa~s prier te elB5in~, aiefle Er eee~rs first, re~ert in lritin~ to Eeller SHea items that ae Rst mEet the aSe.e stanaafds as te aefeets. YRless B~) eE' t.imell re[3srts stleh defects, Dl::I.j eE shall Be deemea te ha. e \ ai. e.d Celler 1!9 \:arraaties as te B.efeets Flat fel"ertee. If :cepairs s:c rel'laeemeRt are re'lBired te esml'l) ,ith this 8taRdare, Celler s;,all cause them te ee made. aRd shall I'a) ul' te the "",eunt I're .idee in Fara~ra!"h (e). Sellef is Ret re'lHi:ced te malEe repairs er Fe~lacemE:flts af a c8smetic nataEe ~Rle5S eatlsea B} a aefeet:feller is respaRsible te repair er Feplaee. If the esst ef StleR repair er rel'laeemeRt elteeeds t;,e ameuRt I're.ided iR ['ara~ral';' (e), BB)e:c er Seller ma) elect te I'ay sHeh elteeS5, failie~ ~hieh either I'a:ct) mal eaReel this Cent:caet. If seITer is enaele to eerreet tRe eefeets ",:rier to elesiR~, t.he east thereef shall Be paia. inte Esers'. at c16Bi8~. Seller shall, Hfl6fl reasB.f'Iable fletiee, pre.iee tltilities ser.iee and aeeeS5 te the Fre!"ert) fer iRsl'eetieRs, iRelHdin~ a lal], threu~h prier te elesie~, te eeRfiEm that all items ef ['ersoRal ['rel'art) are eR the Real P:cel'ert) aAe, sBejeet te the fere~eiR~, that all re'lBiree rel'airs ane rel'laeements ;,a e eeee maee aRe that t;,e Pral'e:ct), iRelueiR~ etlt Ret 1 imi tee tt, 1 a R, shrliBl3er) aRe I'eel, if an), has eeen maiRtainee ie the eeAditien eltistiR~ as ef Effeeti.'e Date, ereieary ear aee teaE eHeel'ted. 9. nxSE 9F bSSS. If the Pral'ert) is Elama~eel e) fiEe sr ethe~ eas~alt) eefere elesiR~ aed eest ef resteratian dees Re~ eHeeee J\ ef the assessed alHatiee ef the Prel'ert) se Elama~ee, eest ef resteratiae shall Be aR eeli~atieR ef ~he Seller aRe ele5iR~ shall preeeedl'llrSuaflt te the terBl5 .ef Ceetraete .lith festeEatieft eestes esere\1ee at elesie~. If the east ef resteratiaR eHeeeds 3\ ef the assessed JaluatisR af the iMpre.emeets se dama~ee, BH)er skall ha~e the aptien ef eit;,er talEin~ Frel'ert) as is, te~ethe:c ,ith either t;,e 3\ sr a..j iestlraRee I"raeeees l'a)a131e B) .irttle af SHea less er dama~e, er ef eaeeelin~ CeRtraet aRe Eeeei.iR~ retHE~ ef del'esitlsl. P. PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closing date. If Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day. period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all 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. Q. SS~l. hR) esere a~eet 1"~"1 reeei .ie~ fURes er e'lui.aleet is autheri~ed and a~rees B) aeeeptaeee ef the. te aepesit them prBmptl}, held same iR eserB aaa, swsjeet te elearaRee# aisB~Ese them iR aeeeraance l~th terMS ana eensitisR5 af CSRtraet. railarE af elearaRse af f~~d3 shall Rat eneU3e B~jer's ~eFfermanee. If ifl aSHst as te ~geHt's a~tieB Be liabilities ~RaEc the pre.isiens af Centraet, A~eR~ mal, at ~~ent'5 e~~ieFl, eeAtiFlue te ;,eld the suejeet ~atter ef the eaere.l BRtil the pa:ctiesherete a~ree te its eiBe~rsemeRt, er ~ntil a jtld~meAt sf a ce~rt af eempctcRt j~risaietien shall eeter:miae ~he :rights af the parties eE A~eRt ma} dcpssit it.R tRe eIer\[ af the eireHit eB~rt ha in~ jHcisclictisR at the a.iapate~ Upsn Aetif~iR~ all par~ie5 eOReeE'nCa ef sueR aetiefl, all 6 liaBilit) en the I'a.-t ef A~eet shall f..ll) te'-lIliRate, elteel"t ta the elttent ef aeeatlRtiA~ fe.- all) items I're'ieusly B:eli erea 81::lt. af E:.3ere I. If a lieeflsea Leal estate eralle.y,. .'!\lJCfJ.t ill eelllpl~ ..ith flEe iaiens af Chapter 1:5, r.E.,. as amcAaea. r~~ 5~it bet ecfJ. D~~er aRa Seller tHere ~~efJ.t iamas€:. a P~Lt~ Beca~se af aetiR~ as A~eAt ReEe~RaeE, er ifl aft) .31..li t ..ficreiR .~l}el'\t i:Rte.rple.aa.s th.e 51::lbjeet matter at the E.scre'U, AgeAt shall Iees e.r reas8Rable att.BEl'le:)3. fees ana casts iflearred \it~ tHese am61::lflts te Be paid from aRB 6Ht of the esers ea fUA63 BE eql::li.aleRt aRa efiargcd ana auaraea as ee~rt easts in fa~er of the preJailin~ part}_ Tke ~gefit shall flat be liaBle te ~n~ part) BE ~er5afl far misB.eli.er) te DU)f::E' BE l::eller af items Sl:lsje.ct. te this E.SCre.l, \:lHlesG 3uch miseleli.er) i3 aliI:: te 111:\:11 Breae~ at CeAtraet 8E ~E6SS flc~li~~ReE af ~~eRt. . R. ATTORNEY FEES; COSTS: In any litigation, including breach, enforcement o~ ~nterpretation, ar~s~ng out of this Contract, the prevailing party in such litigation which, for the purposes of this Standard, shall include Seller, Buyer, and any brokers acting in agency or nonagency relationships authorized by Chapter 475, F.S., as amended. .shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs, and expenses. S. FAILURE OF PERJ1'ORMl\NCE: Except as provided in Paragraph XII, if Buyer fai.ls 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 BOORD; NOTXCE: 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. CONVEYlINCE: Seller shall convey title to Real Property by statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to the status of Seller, subject only to matters contained in Paragraphs VI and XII and those otherwise accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the party or parties intended to be bound by it. W. W1RRANTIES: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. ) 7 B \ II \ \ I I1II 10011 II I I I AMOCOI I III III NO.1 I IL ATLANTIC AVENUE U 0JJIillIII] aIIIillIDJ ~ I ffiillII]ill W1L ---L- r---- - - - r---"--- f---- - - - w w - -,;( > > - .- - <( <( w ~- w w > :;.: - > > - <( f--- - <( <<: <( - - - - - - - - - - - - - - - - -- 1ST .W. - - - - I - - I - ~ - ..... 0> I- -I - ~- -~ I - ..... ~- f--- ~ - -~ - - f--- - - I f--- ..... I- - f--- CXJ ..... f--- I I l"- I- I- eD II ..,. :;: lr vi llF I i--- I \ I t--- 2ND ~-~-:o~ .ffim lTITnnT ~ I - - f--- - f--- - - :;: - -~ f--- - vi - _VI - - - - - - ~.ffiE8 :;: :;: - - - - - -/j <Ii vi - - r---- - - \ VI~y_ - - - - f--- / - - I rr - IJt TT III - - 3RD II arIIJUlli - """- JJ I w :;: :::> <Ii - z - :;: ~ -- f--- - - vi <( I i--- f--- - - ..... I - s.w. 3RD CT. - - - - ,--- - ~ - r-- ~- - i--- - r-- - - :::> ,II I 1111 II I - II I ~- i--- f---- - - r-- - r-- - <( '--- ------ '--- -----' ru '-- S.W. I II I I --- - ~ - - f--- - --:-r- - - - - - - --.J AUBURN CIRCLE NORTH I--- - }) - II "I l- I- W VI > W ~ <( > <( w g ....J ~~ H u ~ U N - LOCATION MAP PROPERTY TO BE TRANSFERED TO THE DELRAY BEACH COMMUNITY LAND TRUST. INC. ., J aTY Of DElRAY BEACH. Fl PLANNING'" ZONING DEPARTMENT -- OICITAL BASE MAP SYSTEM -- PCN: 12-43-+6-17-31-000-0230 3~(}P ~S~ ~.(!. 28 Boca Raton/Defray Beach News - Monday, June 26, 2006 . www.bocanews.com 100 ANNOUNCEMENTS ] 0] Ll ~d: \,)tic es IIOllCE of INTENT TOl1lANSFERISELL REAL PROPERTY NOTICE IS HEREBY GIVEN th~ Ihe City of Delray Beach, Florida. an- nounces its intention 10- Iranster/sell cer~in real properfies for affordable housing puposes as part of the Com- munity Land Trust, .more.parlicularly desaibed .as fcllows lot I, Block 38, Sut.H1i\lision of South Hair (112) 0( Block 3S and SUbdivision 01 North -Half (112) 01 Block 39. T~wn of linton, a:corOing 10 the map or pial thereof as recorded in Plat Book It. Page 34, Public Records of Palm Beach County. Aooda Lot It. Bioct B. Tourist Nook, 3<>::010'- ing to the- map or pial thereof as reo corded In Plat Boofc 11. Page 41, Pub- lic Records 01 Palm Buch County,' Aoriol lot 13, Block l Atlantic Gardens, ac- cording 10 the map or pial ther&of as recordea in Plat 800k 14. Page 56, Public Recorl1s of Palm Beach County, Florlda. lot 23. Carve-r, Square. according ~o the map or plat thereof as .recorded ~n Plat Book 24.' Page 11, PublIc Recorlts of Palm Beach County. flori- o. lol 54. Sunsel PiUk, _lccordin1 to the map or ~at thtfeot as. recorded i1 Plat Book 12; Page 65, Public Recorlts of Pak118eaj1 Counly, Flor;ja. lot 55. Sun.s&t Palk, according 10 the map or pial there.ol as reeorded il PIal Book 12, Page 65, Public Records 01 Palm Beach Coootv, Fbrida Tne South .0 ftet 01 lhe Norlh 254 teet ot the Easl,13S feet 01 Block 31. Map 01 lhe Town 01 Union. Florida, .a<:cordilg to the map or pta.t thereor recorded In PbI Book 1. Page 3 of lie PubUc Records 01 Palm Beaeh County:. Aorlda Th. above being lhe 'eal property described under Tax Certificate 116S0. in the Tax Deed re-. 'Corded en onlClal Record BoOk 11980, Page 1590, Puttlic Ae<:ords ot Palm Be~hCounl>f,Flo1fda Other terms ot fhe Iran.s1eflsale _are contained in lhe ConUacts for Sale ami Purchase between the City and the Communitlf tand Trust. ResoJu- tions 01 the City Commission author- lling the lransfer/sale 01 'eal propet- lies incorporating lhe terms and con. dltions thereof. Will be considefed at a public hearing to be held on Julf' 11. 2006 at 7:00 p.m. at City Hall, 100 N_W. 1st Allenue, Dekay Beacb. Flor- ~. CITY OF OElRAY BEACH, flORIDA 61' Chevelle O. Nubi1 CilyClerk Publish The Boca Aat~n1D6Iray 8eachNews . Monday; JlJ1e 19. 2000 Monday. Jooe 26. 2000 ea/t O(4A/"4,~ cc (!t40!~~ 28 Boca RatonlDelray Beach News - Monday, June 19.2006 . www.bocanews.com o~oy, ~b- ~ 100 ANNOUNCEMENTS 101 Legal \otices N011CE OF INTENT TO TRANSFERlSEll REAL PROPERTY NOTICE IS HEREBY GIVEN thai the City of Delray Beach, Florida, an. nounces its intention to transler/sell certain real ptoper1ieS for affordable housing purposes as part 01 the Com. munity Land Trust. more particularly descnbed as I9tIows: Lol 1. Block 38. SubdiviSioo of South Half (1(2.1 01 Block 38 and SubdiVision of North Hall 11/2:l of Block 39. Town of Unton. according to the map Of pial thereof as recorded in Plat Book 11. Page 34 Public Records 01 Palm Beach County, Aorida_ lot 11. Block B. Tourist Nook. accord- ing 10 the map or plat thereof as reo corded in PIal Boolo: 11. Pa'ge 47. Pub~ lie Records 01 Palm Beach County Florida lot 13. Block 2. Atlantic GardenS ac- cording to the map Ol' plat thereat as 101 Legal Notices recorded in Plat Book 14. Page 56 Public Records 01 Palm Beach COOf'Ity. Florida. Lot 23. Car'ller Square. according to ttte map or plat mereol as recorded in Plat Book 24 Page 11 Public Records of Palm Beach County. Flori- da. L01 5.4. Sunset Parle according to the map Of pial thereof as rElCQ(deO in Plat Book t2. Page 65_ Public Records of Palm Beach County. Aorida Lot 55. Sunset Park, according to the map or plat !hereof as recorded in Pial Book 12. Page 65. Public Records of Palm Beach County, AQfida. The South 40 teet of the North 254 teet 01 the East 135 leet 01 Bloc!< 31 Map 01 the Town of Linton.' Florida according to the map or plat thereof recorded in Plat Book I. Page 3 01 thE! Public Records of Palm Beach County. Florida. The above being the feal prope,rty described undeI Tax Certificate 11650.. in the Tax Deed re. corded in OIticial Record Book 11980. Page 1590.. Public Records of Palm Beach County. Aorida. Other terms 01 the transfer/sale are contained in the Contracts ior Sale and Purchase between the City aM the Community Land Trust. Resolu. bons 01 the City Commission author- izing the transferfsale .of real proper- ties incorporating the terms and con- ditions thereof, wi~ be considered at a publiC hearing to be held on July. 11 20.06 al 7:0.0 p.m. a1 City I-Iall, '00. NW. , sl A...enue Delray Beach, Flor- ida CITY OF DELRAY BEACH. FLORIDA By Chelielle D, Nubin 101 Legal Notices CrtyClerl< Publish The Boca RalonlDelray Beach News Monday. June 19, 2006 Monday, June 26. 2006