Res 01-02RESOLUTION NO. 1-02
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE
CITY TO PURCHASE CERTAIN REAL PROPERTY MORE
PARTICULARLY AND LEGALLY DESCRIBED IN THE
CONTRACT FOR SALE AND PURCHASE, SAID
PROPERTY LOCATED GENERALLY ON THE EAST SIDE
OF CORAL TRACE BOULEVARD, CONSISTING OF
APPROXIMATELY 19.653 ACRES OF LAND, HEREBY
INCORPORATING THE TERMS OF AND ACCEPTING
THE CONTRACT AFFIXED HERETO BY AND BETWEEN
THE SELLER AND THE CITY OF DELRAY BEACH.
WHEREAS, the City of Delray Beach, Florida wishes to acquire certain property located
generally on the East Side of Coral Trace Boulevard consisting of 19.66 acres of land more or less
with the Property Control Number of 124346-18-00-000-1250; and,
WHEREAS, the City desires to acquire land to facilitate the construction of a new high
school or in the alternative to acquire land for recreational and other municipal purposes; and
WHEREAS, pursuant to an interlocal agreement to be entered into between the City and
the School Board, the City intends to transfer all or part of the property acquired to the School
Board and may exchange land to be developed as a joint soccer complex, which may include other
lands and buildings; and
WHEREAS, Florida Statutes provides that the City's acquisition of the land for the
purposes herein described constitute a valid public purpose.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the City Commission of the City of Delray Beach, Florida, as Buyer,
agrees to purchase from the Seller, Continental Homes of FL, Inc., land with the property control
number and as described in Exhibit "A".
Section 2.
A map showing the general vicinity of the property is set forth in Exhibit
Section 3. That the terms and conditions in the contracts for sale and purchase and
addendum thereto are attached as a composite Exhibit C, and hereby incorporated as if fully set
forth herein.
2002. PASSED AND ADOPTED in regular session on this the /S~day of ~_m,
MAYOR
ATTEST:
City Clerk
2 Res. 1-02
EXHIBIT "A"
Jettinghoff Property (Property No. 1 on the Map)
(Property Control No. 00-4246-12-004300-3170)
The East lA of the Southwest ¼ of the Southwest ¼ of the Northwest ¼ of Section
12, Township 46 South, Range 42 East, Palm Beach County, Florida.
]ettinghoff Property (Property No. 1 on the Map)
(Property Control No. 00-4246-12430-000-3040)
The South 2/5 of the West 1/2 of the Southwest ¼ of the Southwest ¼ of the
Northwest ¼, Section 12, Township 46 South, Range 42 East, less the Right of
Way of State Road 809 (Military Trail) Palm Beach County, Florida.
Pious Society Property (Property No. 2 on the Map)
(Property Control No. 00-4246-12-004300-3020)
The West lA of the SE ¼ of the SW ¼ of the NW ¼ of Section 12, Township 46,
Range 42, Palm Beach County, Florida
Watcharinkarn Property (Property No. 3 on the Map)
(Property Control No. 00-4246-12430-000-3210)
The East 1/2 of the SE 1/4 of the SW 1/4 of the NW ¼ of Section 12, Township 46,
Range 42, Palm Beach County, Florida.
Craige Property (Property No. 4 on the Map)
(Property Control No. 00-42-46-124304300-3201)
The westerly 232.13 feet of the SW 1/4 of the SE 1/4 of the NW [4 (less 40 feet for
canal right-of-way) of Section 12, Township 46, Range 42, Palm Beach County,
Florida.
Funck Property (Property No. 8 on the Map)
(Property Control No. 00-4246-124304300-3025)
One-half (1/2) of the NE ¼ of the SW 1/4 of the NW 1/4 of Section 12, Township
46, Range 42, Palm Beach County, Florida.
Raimondi Property (Property Nos. 9 and 10 on the Map)
(Property Control Nos. 004246-12-00-000-3220 and 004246-12-004300-3023
West ½ of the NW ¼ of the SE ¼ of the NW ¼ of Section 12, Township 46,
Range 42, Palm Beach County, Florida.
3 Res. 1-02
EXHIBIT "A" (continued)
Brosseau Property (Property No. 11 on the Map)
(Property Control No. 00-42-464 24)0-000-3021)
The East ½ of the NW ¼ of the SE ¼ of the NW ¼ of Section 12, Township 46,
Range 42, Palm Beach County, Florida.
Morton Property (Property No. 17 on the Map)
(Property Control No. 004246-12-00-000-3026)
Northwest ¼ of the Northeast ¼ of the Northwest ¼ (Less the North 140.25 feet
Lateral Canal #30 R/W) and the East 25' of the West ½ of the Southwest ¼ of the
Northeast ¼ of the Northwest ¥4, Section 12, Township 46, Range 42, Palm Beach
County, Florida.
Triad Plant Company Property (Property No. 18 on the Map)
(Property Control No. 004246-12-00-000-3180)
The Northeast ¼ of the Northeast ¼ of the Northwest ¼ of Section 12, Township
46 South, Range 42 East, less the East 40 feet thereof for County Road right of way
purposes, less the North 140 feet thereof, and also less the North 299.0 feet of the
East 249.0 feet of the Northeast ¼ of the Northeast ¼ of the Northwest ¼ of said
Section 12, Township 46 South, Range 42 East, Palm Beach County, Florida.
4 Res. 1-02
PROPERTY DATA
Location
The property is situated along the east side of Coral Trace Boulevard,
approximately 1/4 mile north of Atlantic Avenue in Delray Beach, Florida.
Size, Shape, Access
The subject site is a trapezoid ~ ,th the tax rolls indicating a total area of 20.18
acres. The survey states the sub,cot contains 19.653 acres. The north boundary is
1,212.05 feet with the east boundary 774.23 feet along the abandoned Davis Road.
The south boundary fronts along Lateral 33 Canal with 1,037.59 feet with the west
boundary that fronts along Coral Trace Boulevard containing 765.05 feet. Survey
was prepared by Ralph D. Denuzzio & Associates, Inc. dated 11/13/97, job
#97029. The appraisers are assuming the survey is correct and have utilized this
total amount in arriving at a market value for the property.
The parcel has frontage along the east side of Coral Trace Boulevard. This divided
two-lane asphalt paved secondary street provides access from Atlantic Avenue on
the south to the Coral Trace development to the north
Property Control No. 12-43-46-18-00-000-1250
EXHIBIT A
Plat Map
EXHIBIT B
CONTRACT FOR SALE ~ PURCHASE
PARTIES: CONTINENTAL HOMES OF FLORIDA, INC., ("Seller"), of _8000 Governors Square
Boulevard, Suite #101, Miami Lakes, FL 33016, (Phone {305)512-4954, and the CITY
OF DELRAY BEACH, a Florida municipal corporation, {"Buyer"), of 100 N.W. 1~=
Avenue, Delray Beach, FL 33444 (Phone: 561-243-7000), hereby agree that the
Seller shall sell and Buyer shall buy the following described Real Property and
Personal Property (collectively "ProDerty") 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").
DESCRIPTION:
(a)Legal description of the Real Property located in Palm Beach County,
Florida:
A parcel of land in Section 18, Township 46 South, Range 43 East, Palm
Beach County, Florida, more particularly described as follows:
Commence at the Southeast corner of Lot 1, Bock 1 of SUDAN UNIT A,
according to the map or plat thereof as recorded in Plat Book 28, at Page
144, of the Public Records of Palm Beach County and run South 89°45'41''
East 72.02 feet to a point located on the Westerly right of way for Lake
Worth Drainage Canal No. E-4, then run South 11054'42'' West along said
Westerly right of way 553.56 feet, to the Point of Beginning, from said
Point of Beginning continue South 11°54'42'' West along said E-4 right of
way 774.23 feet to the Northerly right of way for lateral canal No. L-33,
then run South 89040'57'' West along said Northerly right of way 1037.59
feet, then run North 01o05'55'' West along the Easterly boundary of a 60
foot roadway as recorded in Official Record Book 9838, at Page 565 for a
distance of 765.05 feet to the South boundary of Coral Trace Subdivision,
then run South 89055'27'' East along said boundary line a distance of
1212.05 feet to the Point of Beginning. The Easterly 24 feet subject to
easement as recorded in Official Record Book 9838, at Pages 561 and 569.
Consisting of approximately 19.653 acres, more or less
Property Control no. 12-43-46-18-00-000-1250
(b) Street address, city, zip, of the Property is:
II.
PURCHASE PRICE:
PAYMENT:
(a)
Deposit due upon the approval
by the City Commission pursuant to the
contingencies set forth in Addendum
Section B to be held in escrow by
Robert W. Federspiel, P.A. Trust Account
In the amount of
(b)
Balance to close (U.S. cash, LOCD~LLY DRAWN
certified or cashier's check), subject to
adjustments or proration
Total
6r390~000.00
$200,000.00
$ 6,190,000.00
$ 6,390,000.00
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 prior to such offer being withdrawn by the first
party signing, the deposit(s) will, at Buyer's option, be returned and this offer
withdrawn. The date of Contract ("Effective Date") will be the later of the date
when the last one of the Buyer and the Seller has signed this offer or the date
the City Commission of the City of Delray Beach approves this Contract. A
facsimile copy of this Contract and any signatures thereon shall be considered
for all purposes as originals. This Contract may be executed in counterpart.
IV. TITLE EVIDENCE= At least 30 days from the effective date, (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 sixty (60) days from the Effective Date, unless
modified by other provisions of Contract.
VI. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to
the matters described in Exhibit "A."
VII. OCCUPANCY: Seller warrants there are no parties in occupancy other than
Seller; but if Property is intended to be rented or occupied beyond closing, the
fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant
to Standard F. Seller shall deliver occupancy of Property to Buyer at time of
closing unless otherwise stated herein. If occupancy is to be delivered before
closing, Buyer assumes all risk of loss to Property from date of occupancy, shall
be responsible and liable for maintenance from that date, and shall be deemed to
have accepted Property in its existing condition as of time of taking occupancy
unless otherwise stated herein.
VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten
provisions, riders and addenda shall control all printed provisions of this
Contract in conflict with them.
IX. ASSIGNABILITY: (CHECK ONLY ONE): Buyer (1) [] may assign and thereby be
released from any further liability under this Contract; []may assign but not be
released from liability under this Contract; or .may not assign this Contract.
Xe
DISCLOSURES:
(a) Radon
(b)
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.
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, attached
addendum and CHECK HERE ..
CITY OF DELRAY BEACH
CONTINENTAL HOMES OF FLORIDA, INC.
By: By:
Date
Date
Date
By:
Tax ID No. 60-0811624154C
Social Security
or Tax ID No.
Deposit(s) under Paragraph II (a) received; IF OTHER THAN CASH, THEN SUBJECT TO
CLE~LRANCE: ROBERT W. FEDERSPIEL, P.A
By:
SELLER:
BUYER:
PROPERTY ADDRESS:
ADDENDUM TO CONTRACT FOR SALE AND PURCHASE
CONTINENTAL HOMES OF FLORIDA, INC.
CITY OF DELRAY BEACH, a Florida municipal corporation
XI. SPECIAL CLAUSES; ADDENDA (Continued):
The Buyer shall have forty-five (45) days following the approval by
the City Commission pursuant to Section XI(B) below within which to
conduct any and all feasibility studies and determinations relative to
the suitability for the acquisition of the subject property by the
Buyer and the Buyer reserves the express right to terminate this
Contract at any time during said period for any reason or no reason,
in Buyer's sole discretion, whereupon Buyer shall receive a full
refund of all deposit monies paid hereunder. Buyer shall be granted
reasonable access to the premises to conduct such feasibility studies
and determinations, including environmental assays, core drilling,
surveys, soil sampling and other such testing. In the event the Buyer
does not cancel this Contract as aforesaid, the Buyer expressly waives
any and all claims against Seller with respect to the condition of the
subject property and the Buyer accepts the subject property in its "as
is" condition. Seller hereby notifies Buyer that Seller is unaware of
any defects or repairs required to the subject property other than:
The Seller hereby
agrees to provide Buyer with an Affidavit attesting to the expenditure
of those sums identified in invoices and receipts attached to tke
Affidavit relative to the improvement of the subject real property
from the time of acquisition by the Seller through the effective date
of this Contract. Prior to closing, the Seller shall be entitled to
continue to make all submittals and proceed through all appropriate
approval processes within the City of Delray Beach for its proposed
development of the property during the Inspection Period, and the
Buyer and acknowledges that all such submittals and requests for
approval shall be processed in the City's ordinary course of business.
This Contract is expressly contingent and conditioned upon the
approval of the same by the City Commission of the City of Delray
Beach within ten (10) days following the Effective Date, and this
Contract shall expressly not be deemed an "offer" for any purpose
unless and until the said City Commission shall have approved and
accepted said Contract in open session. If this Contract is not
approved by the City Commission of the City of Delray Beach within
ten (10) days following the Effective Date, then this Contract will
be null and void and of no further force or effect.
The parties warrant and agree that there is no broker involved in
this transaction.
BUYER'S INITIALS: SELLERS' INITIALS:
STANDARDS FOR REAL ESTATE TRANSACTIONS
A. EVIDENCE OF TITLE: (1)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 syr~opsls 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 r~ght o~ retention thereof by ~rst ~rtgagee until ~ully pa~d (2) 6
tltle insurance commitment ~ssued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deed to
Buyer, an o~er's policy of title insurance in the a~unt of the purchase price, insuring Buyer's t~tle to Real Property, s~]ect
only to l~ens, encu~rances, exceptions or qualification provided in th~s Contract and those which shall be discharged by Seller at
or before closing Seller shall convey a marketable title s~]ect only to l~ens, encu~rances, exceptions or ~allflcatlons set forth
~n Contract Marketable t~tle shall be determined according ~o applicable T~tle Standards adopted by authority of The Florida Bar
and lm accord~ce wl~h law Buyer shall have 30 days. if abstract, or 5 days, if t~tle co~ltment, from date of recexvl~g evidence of
title to examine it If title is found defective, Buyer shall, within ] days thereafter, notify Seller in writing specifying
defect(s) If the defect(s) render t~tle unmarketable, Seller w~ll have 30 days from receipt of not~ce to remove the defect(s),
falling which Buyer shall, w~th~n f~ve (5) days after exp~ra=lon of the =h~rty (30) day per~od, deliver written not~ce to Seller
either {1) extending the t~me for a reasonable per~od not to exceed 120 days within which Seller shall use d~llgent effort to re~ve
the defects, or (2)re~est~ng a refund of deposit(s) pa~d which shall ~ed~ately be retu~ed to Buyer. If Buyer fa~ls to so not~fy
Seller, Buyer shall be deemed to have accepted the t~tle as ~t then ~s Seller shall, ~f t~tle ~s found un~rketable, use d~l~gent
effort to correct defect(s) ~n t~tle w~h~n the t~me p~v~ded therefor If Seller ~s unable to t~mely correct the defects, Buyer
shall e~=her waive the defects, or receive a refund of deposit (s), thereby releasing Buyer and Seller from all further obligation
under this Con~ract
B. P~SE MO~Y MORT~GE; SE~I~ AGRE~ ~ SELLER: A purchase ~ney mortgage and ~rtgage note to Seller s~ll provide for
a 30 day grace period in the event of default if a f~rst mortgage and a 15 day grace period if second or lesser mortgage; shall
provide for right of prepa~ent in whole or in part without penalty, shall permit acceleration in event of transfer of the Real
Property; shall re~lre all prior llen and encu~rances to be kept ~n good standing and forb~d ~dlflcatlons of or future advances
under prior mortgage(s) , shall re~lre Buyer ~o maintain policies of insurance con~al~lng a standard mortgagee clause covering all
Improvements located on the Real Property against fire and all perils included wlthl~ the te~ "ex~ended coverage e~dorsements" and
such other r~sks and perils as Seller ~y reasonably re~re, in an a~unt e~al to their h~ghest ~nsurable value; and the mortgage,
note and security agreement shall be otherwise ~n form and content re~lred by Seller, but Seller may only re~re clauses
customarily found in mortgages, mortgage notes, and security agreements generally utilized by saving and loan l~Stlt~tlo~s or sta~e
or national banks located in the county where~n Real Proper~y ~s located. Ail Personal Property and leases being conveyed or
assigned w~ll, at Seller's option, be subject to the l~en of a security agreement evidenced by recorded f~nanc~ng statements If a
balloon mortgage, the final pa~ent w~ll exceed the periodic pa~ents thereon.
C. ~Y: Buyer, at Buyer's expense, within time allowed to deliver evidence of title, may have Real Property su~eyed and
certlfxed by a registered Florlda su~eyor If the su~ey dlscloses encroachments on the Real Property or that improvements located
thereon encroach on setback lines, easements, lands of others, or violate any restrlctlons, Contract covenants or applicable
governmental regulatmon, the same shall constitute a t~tle defect
..... ~ '-- thls ~'ithln 5~ayz~ ~= ........... ~ contractor's rcpalr ~}' ~ivin~ nctlcc ts Callar ur -uyar r=y
E. INGRESS ~ EGRESS: Seller warrants and represents ~hat there zs ~ngress and egress to the Real Property suffzczent for the
intended use as described in Paragraph VII hereof, title ~o whlch is zn accordance with Standard A.
F. L~SES: Seller shall, not less than 15 days before closzng, fu~zsh to Buyer copses of all wrlt~en leases and estoppel letters
from each tenant speclfylng the nature and duration of the tenant's occupancy, rental rates, advanced rent and se~rlty deposlts 9azd
by tenant If Seller zs unable to obtazn such letter from each tenant, the same znfor~zon shall be furnished by Seller to Buyer
wzthln that tlme period In the form of a Seller's affidavit, and Buyer may thereafter contact tenants to confz~ such lnfo~tlon
Seller shall, a= closing, deliver and assign all original leases to Buyer
G. LI~S: Seller shall furnish to Buyer a~ t~me of closing an affldav~ attesting to the absence, unless othe~lse provided for
herein, of any financing statements, claims of lien or potential llenors kno~ to Seller and further attesting that there have been
no improvements or repairs to Property for 90 days l~edlat~ly preceding date o~ closing If Property has b~en l~roved, or repaired
within tha~ t~me, Seller shall deliver releases or waivers of mechanics' l~ens executed by all general contractors, s~contractors,
suppliers, and mater~almen ~n add=t~on ~o Seller's lien affidavit setting forth the names of all such general contractors,
subcontractors, suppliers and ~ter~almen and further affl~ng that all c~rges for lmprovements or reDalrs which could se~e as a
basis for a mechanic's lien or a claim for damages have been pa~d or will be paid at closing of this Contract
H.0 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 slx (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 buslness day Time is Of the essence in th~s Contract.
J. DOC%~(ENTS FOR CLOSING: Seller shall furnish deed, bill of sale, construction lien affidavit, owner's possession affidavit,
assignments of leases, tenant and mortgage estoppel letters, 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 star~z an~
....... = .............. ~ .............. = ...... =-= ........~ mc~gagc assumcd, and rRecordlng 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 V
L. PRORATIONS; CREDITS: Taxes, assessments, rent, 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 pollcles 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 co 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 ~vallable, 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, falling which, request will be made to the County Property Appraiser for an Informal assessment taking into
consideration available exemptions Any tax proration based on an estimate shall, at request of either party, be readjusted upon
receipt of tax bill on condition that a statement to that effect is signed at closing
M. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective
Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer If the improvement has been
substantially completed as of Effective Date, any pending lien shall be considered as certified, confirmed or ratified and Seller
shall, at closing, be charged an amount equal to the last estimate of assessment for the improvement by the publlc body
..............cf loci:s, -a~a~c cr st~actural =ama~s and that thc saptlc ...... , ~ .... ................. app ......... itc~s, .
ccc,~n~, electrical, plur~m~ systems .... mac..imcry are =n WC~XINC ...... TION Thc ~crcgc;ng ;:arrant}' shall bc l~mitcd ts thc itcmc
ilCC~SCl Flcrld= cc~tractcr =~. shall, ~rlsr ts E~ycr's $cc~axcy or xct lass than IC days ~rlcr
tc sc..--~Iy ~:~th thls Standard, Seller shall causs them to bc ra~s and shall pm}' up ts thc amount providcl zn Para~rap,h XIII (b) Caller
........ = ....... =--~ .....:hlck althsr ...... r=y cancel thls Contract ~= Callas is '~nablc ........ ~- =-= .... ~rlsr ts ....... =,
thc C~St thcrccf shall ba pald i.~tc c~cr=%: mt ClCsi~ Caller shall, u~cn rcazcnablc nstlec, pr~vldc utillt~c~ zc~.'Icc and accsss tc
-~ ......... = ................ ~"=--- a ~:al]: '~ u tc -~ ..... ts confirm., ~-~ -~ ~tcms -= ~ ...... · Prcpsrty mrs cn tbs
"--~ ~ .......... ~ -"= ....... ~- = ......... ~-' -~ ....... ~ rcpalrs an~ replaccmsnts ha-:e btam --~ an~ that thc ~rcpcrty,
O. RISE OF LOSS: If the Property is damaged by fire or other casualty before closing and cost of restoration does not exceed 3% of
the assessed valuation of the Property so damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed
pursuant to the terms of Contract with restoration costs escrowed at closing If the cost of restoration exceeds 3% of the assessed
valuation of the improvements so damaged, Buyer shall have the option of either taking Property as lB, together with either the 3% or
any insurance proceeds payable by virtue of such loss or damage, or of canceling Contract and receiving return of deposit(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 unmarketable from the date of the last evidence. AIl 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, w~thln the 5 day per~od, not~fy 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 falls 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
portlon 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 ~t 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 thls Standard may be waived if title agent insures adverse matters pursuant to Section 627 7841, F S , as amended
Q. ESCROW: Any escrow agent (~Aqent") receiving funds or equivalent is authorized and agrees by acceptance of them to deposit them
promptly, hold same in escrow and, sub]ect to clearance, disburse them in accordance with terms and conditions of Contract Failure
of clearance Of funds shall not excuse Buyer's performance. If in doubt as to Agent's duties Or llabllltles under the provisions of
Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow until the parties hereto agree to lts
disbursement, or until a Judgment of a court of competent ]ur~sdlctlon shall determine the rights of the parties or Agent may deposit
with the clerk of the circuit court having jurisdiction of the dispute Upon notifying all parties concerned of such action, all
liability on the part of Agent shall fully terminate, except to the extent of accoun~Ing for any items previously delivered out of
escrow. If a licensed real estate broker, Agent will comply with provisions of Chapter 475, P S , as amended Any suit between Buyer
and Seller where Agent is made a party because of acting as Agent hereunder, or in any suit wherein Agent lnterpleads the subject
matter of the escrow, Agent shall recover reasonable attorneys' fees and costs incurred with these amounts to be paid from and out of
the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party The Agent shall not be
liable to any party or person for mlsdellvery to Buyer ~r Seller of items subject to this escrow, unless such mlsdellvery is due to
willful breach of Contract or gross negligence of Agent
R. A~'TO~Y 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, P S., as amended, shall be entitled to recover from the non-prevailing
party reasonable attorney's fees, costs, and expenses.
S. FAILURE OF PERFORF~%~CE: If Buyer falls to perform this Contract within the tlme 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; cr Seller, at Eallar's c~tlcn, may~-rsccc-
ts cnfsrcc Sallsr's r~.htz undar ~kls Contract If, for any reason other than failure of Seller to make Seller's title marketable
after dlllgent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific performance as Buyer's
sole remedy sr .................. -~--~ ts rccci%'c '~ ........ ~f ~ ....... ~ J dcps~it~-~, .................... '"~"" thcrcby ~:~l~-in~ any actlon fsr lama~s~
Ssllcr'= hraach
T. CON~7~ACT NOT RECORDABLE; PERSONS EOIFND; NOTICE: Neither this Contract nor any notice of it shall be recorded in any public
records This Contract shall bind and inure to the benefit of the parties and their successors in Interest. Whenever the context
permits, singular shall include plural and one gender shall Include all Notice given by or to the attorney for any party shall be as
effective as if given by or to that party.
U. CO~'EYA~CE: 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 contalne~ in Paragraph VII 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. OT~{~R A~R~4E~fS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in
this Contract No modification or change ~n this Contract shall be valid or binding upon the parties unless in wrltlng and executed
by the party or parties intended to be bound by it
-y -uycr ..................... uyar.
Be
Taxes and a~se~Qe~ts for ~/~e year 2002, and subsequent year~
which are not yet due and payable.
Any adverse ownership claim by the State of Florida by right
of sovereiqnty to any portion of the lands insured hereunder,
including submerged, filled and artificially exposed lands,
and lands acer·ted to such lands.
Terms, conditions, restrictions and easements appearing on the
Plat of the Model Land Company, a subdivision, according to
the Plat thereof recorded in Plat Book 6, Page $1, in the
Public Records of Palm Beach County, Florida.
Easement between Robert H. Kinkead, Trustee, and High Point of
Delray Builders~ Inc. recorded November 17, 1977, in O~ficial
Records Book 2767, at Page 210, in the Public Records of Palm
Beach County, Florida.
Quit Claim Deed to City of Delray Beach covering the East 40
feet of said la, ds recorded in official Records Book 1585, at
Page 85, in the Public Records of Palm Beach County, Florida.
Reservation as to Perpetual Drainage Easement and Ingress and
Egress for=he purpose of canal maintenance includ/~mg but not
limited to ~he excavation, removal of vegetation, irrigation,
canal drainage districts, sluiceways spoil deposit control
structures, berms and area fo~ maintenance and deposit,
utilities and other related purposes as disclosed An Quit
Cla~ Deed from Lake Worth Drainage District to City of Delray
Beach dated July 27, 1994, recorded in Official Record~ Book
8783, at Page 443, in the Public Records of Palm Beach County,
Florida.
Reservations to Lake Wcth Drainage District recorded in Quit
Claim Deed as shovm in Quit Claim Deed recorded in Official
Records Book 9838, at Page 561, in the Public Records of Palm
Beach County, Florida.
Comprehensive land use plans, zoning, restrictions,
prohibitions and other requirements imposed by governmental
authority.
Non-Exclusive Canal Maintenance Easement as s~t out in Quit
Claim Deed from the City of Delray Beach to Stanley G. Tats,
dated ~ay 8, 1997, recorde~ in Official R~cord~ Book 98~8, at
Page 581, in the Public Records of Palm Beach County, Florida.
EXHIBIT
Page 1 of
10.
11.
12.
13.
14.
15.
17.
Easement to City of Delray Beach coverin~the Easterly 24 feet
of the in~ured land~ recorded June 11. 1997. in Official
Re¢ord~ Book 9838. at Page 569, in the Public ~ecords of Palm
Beach county, Florida.
Conveyance to Lake Worth Drainage District of the South ?0
feet described in Deed dated N~ch 24, 1971, recorded in
official Records Book 1884, at Page 903, in the Public Records
of Palm Beach County~ Florida.
Ordinance No. 93-85 recorded october 29, 1985, in official
Records Book 4692, at Pa~e Bo3, in ~he Public Records of Palm
Beach county, Florida.
Ordinance No. 93-85 recorded in Official Records Book 4680, at
Page 1103, in the Public Records of Palm Beach County,
Florida. '
Ordinance No. 162-88 recorded in Official Recorde Bock 58~7,
at Page 278, in the Public Records of Palm Beach County,
Florida.
Obligations created by UtilityEaeement between High Point of
Delray Condominium AsSociation, Inc. and Stanley G. TatS,
dated October 22, 1986, recorded in Official Records Book
4715, at Page 1348, in the Public Records of Palm Beach
County, Florida.
Access Easement between Lake Worth Drainage District and City
of Delray Beach dated September 1~, 1997, recorded in official
Records Book 10022, at Page 1167, in the Public Records of
Palm Beach County, Florida.
~asement to Florida Power and Light company .recorded in
February 13, 1968, recorded in Official Record~ Book 1638~ at
Page ~55, in the Public Recor~ of Palm Beach County, Florzda.
Ail those matters shown on the survey of Shah Drotos &
Associates, Job No. 99-0486.
S.P.i
Memo
City Commission
Harden, City Manager
David
T.
01/11/02
Contract for Acquisition of Tate Property
Attached for your consideration is a contract for acquisition of the q'ate" property. This offer is only
good until January 20, 2001. If the City accepts the offer, we will have a 45-day due diligence pedod.
Dudng that pedod, the City would conduct feasibility studies and has the right to terminate the contract
"for any reason or no reason."
Our appraiser has estimated that as of Apdl 18, 2002, the value of the property would be $6,089,000.
The middle of Apdl would be the eadiest date we could get an order of taking if we acquired the
property by eminent domain. We assume that Continental Homes would continue with the
development of the property in the meantime, and our appraiser estimates they are spending $384,000
per month on development costs. Since an eminent domain proceeding would require us to pay both
our legal costs and theirs, the contract price of $6,390,000 seems to me to be reasonable.
The "'rate" property is the essential property for assembling a school site in this area. This contract will
stop further escalation in the cost of this property while the City and the School District complete
negotiation of an agreement for acquisition of an altemative site for Atlantic High School. At the same
time City staff will seek to negotiate contracts for acquisition of adjoining land to complete a site in this
location I recommend that the Commission approve Resolution 1-02.
® Page I
[ITY OF DELRI:IY BEI:I£H
CITY AITORNEY'S OFFICE ~oo sw ~ ^v~$~. ~^~ ~^c., ~o~^..~
TELEPHONE 561/243-7090 · FACSIMILE 561/278-4755
1993
Writer's D~rect Line' 561/243-7091
MEMORANDUM
DATE:
January 2, 2002
TO: City Commission
David Harden
FROM:
Susan A. Ruby, City Attorney
SUBJECT:
Resolution No. 1-02
Contract Between City and Continental Homes of FL, Inc.
"Tate Property"
The contract provides that the City will acquire approximately 19.653 acres of land
on the East side of Coral Trace Boulevard, formally known as the Tate property.
The contract provides for a deposit of $200,000.00 and the payment of
$6,190,000.00 at closing for a total price of $6,390,000.00. Closing is required to
occur forty-five (45) days after City Commission approval of the contract.
The contract is not contingent on closing on any other property.
Please place Resolution
Commission action.
SAR:ci
No. 1-02 on
the January 15, 2002 agenda for City
Attachment
CC:
Robert Federspiel, Esq.
Mr. Tony Palumbo
Mr. Paul Romanowski
RESOLUTION NO. 1432
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE
CITY TO PURCHASE CERTAIN REAL PROPERTY MORE
PARTICULARLY AND LEGALLY DESCRIBED IN THE
CONTRACT FOR SALE AND PURCHASE, SAID
PROPERTY LOCATED GENERALLY ON THE EAST SIDE
OF CORAL TRACE BOULEVARD, CONSISTING OF
APPROXIMATELY 19.653 ACRES OF LAND, HEREBY
INCORPORATING THE TERMS OF AND ACCEPTING
THE CONTRACT AFFIXED HERETO BY AND BETWEEN
THE SELLER AND THE CITY OF DELRAY BEACH.
WHEREAS, the City of Delray Beach, Florida wishes to acquire certain property located
generally on the East Side of Coral Trace Boulevard consisting of 19.66 acres of land more or less
with the Property Control Number of 124346-18-00-000-1250; and,
WHEREAS, the City desires to acquire land to facilitate the construction of a new high
school or in the alternative to acquire land for recreational and other municipal purposes; and
WHEREAS, pursuant to an interlocal agreement to be entered into between the City and
the School Board, the City intends to transfer all or part of the property acquired to the School
Board and may exchange land to be developed as a joint soccer complex, which may include other
lands and buildings; and
WHEREAS, Florida Statutes provides that the City's acquisition of the land for the
purposes herein described constitute a valid public purpose.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the City Commission of the City of Delray Beach, Florida, as Buyer,
agrees to purchase from the Seller, Continental Homes of FL, Inc., land with the property control
number and as described in Exhibit "A".
Section 2.
A map showing the general vicinity of the property is set forth in Exhibit
Section 3. That the terms and conditions in the contracts for sale and purchase and
addendum thereto are attached as a composite Exhibit C, and hereby incorporated as if fully set
forth herein.
PASSED AND ADOPTED in regular session on this the _~
2002.
day of ............. ,
MAYOR
ATTEST:
City Clerk
2 Res. 1-02
PROPERTY'DATA
Location
The property is situated along the east side of Coral Trace Boulevard,
approximately 1/4 mile north of Atlantic Avenue in Delray Beach, Florida.
Size, Shape, Access
The subject site is a trapezoid ~,rh the tax rolls indicating a total area of 20.18
acres. The survey states the sul~jcc~, contains 19.653 acres. The north boundar7 is
1,212.05 feet with the east boundary 774.23 feet along the abandoned Davis Road.
The south boundary fronts along Lateral 33 Canal with 1,037.59 feet with the west
boundary that fronts along Coral Trace Boulevard containing 765.05 feet. Survey
was prepared by Ralph D. Denuzzio & Associates, Inc. dated 11/13/97, job
#97029. The appraisers are assuming the survey is correct and have utilized this
total amount in arriving at a market value for the property.
The parcel has frontage along the east side of Coral Trace Boulevard. This divided
two-lane asphalt paved secondary street provides access from Atlantic Avenue on
the south to the Coral Trace development to the north
Property Control No. 12-43-46-18-00-000-1250
EXHIBIT A
Plat Map
EXHIBIT B
PJdtT2ZS~
Seller ah~ll s~ll
Personal ~ope~Cy (colleccivel~
conditions, whmch IN~E the St~dards for Real Estat~ ~nactions
a~a Co ~hi~ Contract for Sale ~ Pur=haee ("Con~ract").
DRSC~TION:
(a}begal description of =he Real Property locate~ in Palm Beach
Florida:
The EaEC side of Coral Trace Boulevard. conEiscin9 of a~proximatel~ 19.653
acres, more or les~
~roper=y Control no. 12-43-46-1B-00-000-1250
II.
P~TJ~C~A~E P~IC~E: $
(a) Deposit due upon the approval
by =he City Commies/on pursuant to the
contingencies sec forth in
Section B Co be held in escrow by
Robert W. Federspiel,
In =he amount of
Balance to close (U.S. cash, LOCALLY DRAWN
certified or cashier's check}, subject to
adjustments or proration
To~al
$200°000.00
~ Si190, OO0.00
ZZZ. TTM~ ~O~ ACCNPTANCB; ~P?B~TZ~ DAT~; FACSIM=T-~: If t~is offer
executed h~ &~ delivered Co all par~ies SE P~CT o~ EX~O~ co~icaced
~ci~in~ ~ecveen the paroles prior ~o such o~er ~ein~ withdrawn by c~e ~irs~
party si~nin~, the deposit(s) will, a~ ~uyer's op~iom, ~e rec~c~e~ ax~ ~s
vich~caw~. Th~ d~e o~ Con~ra~ ("E~ective Da~e") will ~e ~he l&~er of T_~e
when ~hc las~ one of the ~uyer and the Seller has si~ned =his offer or the ~late
Che City Co~miesion o~ the City of Delray 9each approves t~iB Contract. A
~aceimlle cop~ o~ this Contract and any Ei~na=ures ~hereon sh~11 bc considered
for all purposes as originals.
EXHIBIT C
1~. TITLZ ~"XDENCE~ At la=st 30 days from the effective ~ate, {~w~CK ONLY
ONE): · Seller shall, at Seller's expense, deliver to Buyer or Buyer'~
OR ~ Buyer shall a= Buyer's e~ense ob=din (~CK O~Y 0~): ~t~=t of title
or ~title lmsur~ce co~itment ~with legible copies of inst~ments listed as
exceptions a=tache~ t~ereto) an~, after closing, ~ o~er'~
insur~ce.
V. CLOSING DATE, This transaction shall be closed and the deed --~ other
closing papers delivered within seventy-five (75) days from the Rffective Date,
unless modified by other provisions of Contract.
vi. ~.HETRXCTIONB; ~A~W~WT~; LIMITATIONS: Buyer shall cake :i=le ~ubJec: to:
comprehensive land use plans, zoning, restrictions, proh~itiona ~nd other
requirements imposed by governmental authority; restricti~ns and matters
appearing on the plat or otherwise common to =he subdivision; publlc utility
easements of record (easements are to be located conti~uous to Real Property
lines an~ not more than 10 feet in width as to the rear or front lines and 7~
feet in width as to the side lines, unless o~hexw{se Ina=ad ~erein); :axes for
year of closing and subsequent years; assumed mot:gages and purchase money
m~r=gages, if any (if additional items, see addendum); provided ~t there exists
at closin~ no violation of the foregoing.
VII. OCcumANCY~ Seller warrants there are no parties in occupancy other than
Seller; but if Property is intended to be rented or occupied beyon~ clo~in~, the
fact and :arms thereof and the tenant(s) or occupants shall be ~/sclosedpursuant
to Standard F. Seller shall deliver occupancy of Property =o ~uyer at time of
closin~ unless otherwise seated herein. If occupancy is to be delivere~ before
closing, Buyer assumes all risk of loss to Property from date of occupo~f, shall
be responsible and liable for maintenance from that date, and shall be deeme~ to
have accepted Property in its ex/sting condition as of ti~e of taking occupancy
unless otherwise sca=ed herein.
VIII. TYPewrITTEN O~ ~AND~RITT~ PROVIEIONS: Typewritten or handwritten
provisions, ridars and a~denda shall control all printed provisions of th/s
Con,fac: in conflic: with them.
IX. &~I~NABILITY: (CHECK ONLY ONe): Buyer (1)~ may assign and thereby be
released from any further liability under this Contract; ~may assign but mot ~
released from liability under =his Contract: or ~y not asai~ ~ds C~=ract.
Z. DZBCLO,gl~J~.ZS:
(a) Radon
is a naturally occurring radioactive ~as that, when
accumulated in a building in sufficient quantities, may present
health risks to persons who are exposed to it over :ime. Levels of
radon that exceed federal and state guidelines have been fo=nd in
buildings in Florida. Additional information re~ar~-~ ~a~l~n or
Radon nesting may be obtained from your C~unty Public Health unit.
Buyer may have determined the energy efficiency ratin~ of the
reGidential building, if any is located on the Real Pro, arty.
~E~. SPZ~ZAL CLA~SZ~ ADDENDA: If add/tithe1 terms are to be provided, attached
addendum and CKECKKERE ·.
C~'I'Y OF DELRAY ~EAG
CONT~ HOM~$ OF F~OR.23~, 33~C.
Date
Tax ID No. 60-0811624154C
Soci&l Securi=¥
or Tax ID No.
under Paragraph II (a) received; IF OTHER THAN CASH, TH~N SL~J~rfTO
ROBERT W. FEDERSPIEL, P-A
By:
BU'Y~R:
PR~PL~RTY ADDRESS
ADDENDUM TO CONTRACT FOa SALZ AND PU~A~Z
CONTINENTAL HOM~$ OF FLORIDA, INC.
CITY OF D~.LRA¥ BPJ~CH, a Florida municipal corpora=ion
X~. ~PECIAL CLAU~ISj ADDENDA (Continued):
The Buyer shall have forty-five (,S) days following the approval by
the cXcy co~vaission pursuant to Sec=ion XI {B) below w/~k4~ w~/ch to
conduct ~y ~d all feas~ility stu~es ~ ~4-~i~ ~la~ive
~h~ suit~iliU~ ~or the ac~isition of ~e G~jec= propercy
Buyer ~ =he Buyer re~e~es ~he ~rese rich= co =e~nace =his
Con=race a= any time durin~ said period for ~y reason or ~ reason,
~n Buyer's sole ~iscret~on, whereupon Buyer s~ll receive a full
tefra of all deposit mo~ies paid here~der. Buyer sh~l ~
reasonable acce~ =o ~e presses =o conduce such feas~ili~ s~dies
~d derelictions, including enviro~ental assays, core
su~eys, soil sampling ~d ocher such test~g. Seller will provide
acces~ =o project books ~d recor~ to allow Buyer =o de=e~ne
verif~ the additional e~endi~es ~d im~r~em~=e ~e =o =he real
This Contract is expressly contingent and conditioned upon the
approval of the sam~ by the City Commission of =he City of Delray
Beach within ten {10) days following =he Bffective Date, and this
Con=race shall expressly no~ be deemed a~ "offer" ~or any purpose
unless and until th~ said City Commission shall have approved and
accepted said Contract in open session. If ~his Contract ia no~
approved by the City Commission of the City of Delray Beach with/n
ten (10) days following t~e Effective Date, t_~n t--~/$ Contract will
b~ null and void ~nd of no further force or effect-
The par=lee ~arran= and a~ree that there is no broker ~nvolved ~n
=hi~ transaction.
BUYER'S INITIALS:
$E?.L~RS' INITIJ~LS=
STA3gDARDS FOR RBAL I~STATB TRANSACTIONS
Rell Pro. cOy recorde~ ~ the p~llc records o~ the county ~ereLn Keel Pr~erC7 ~u 1sciteX. =hr~h E~fec=tve
c~ce v~ ~e ea=l~efc p~li~ ~ecora.. or such la,er dace as My ~ ~ac~ ~ ~ co~y.
c~Lle ~u~ce c~C IJ~ued by · Flo~t~ 11cenae~ ~2Cle ~eure~ m~eetn~ ~ ~eue ~o ~ye~, ~ ~ o~ c~ ~ co
~yir, in o~tr'u ~1~ ~f C~le i~ur~ce in =he ~c D~ ~e p~oe price. ~9 Bu~~fs ~le
o= ~ore cloe~. Seller e~ll c~vey I ~rke~le ~cls ~]o~ ~ly ~o l~ens, o~cee, ~pci~a or Mllti~cl~ eec to~h
~ C~nc=acC. ~r~e~le ~cle snail ~e deco.ned according ~o applicable Title ~e s~C~
~ ~ occor~ce ~ lay Buyer e~l~ bye ]0 ~ye. ~ ts=ceca, or 5 days, ~Z ~le c=cBc,
Seller, BU~OT e~mll ~ deeMd co ha~. acce~c.~ c~o c~cl. ~ ~c chon i.. S~ller s~2, l~ c~c~o is t~ m~c~la, uge ~ligenc
eCtorC Co co~ecc defect (e) in c=cle ~chln the cite Dr~ded cheroCoT, it Sello~ ~e ~1e co
0~11 either waive CAe delecCa, oz receive a re~un~ of deposit(a), thereby relelsing Duyet and sellec
~er ~l Con~xac~.
such o~her rie~ ~d ~rlla as Seller My reaoon~ re.ire, in ~ ~= ~al to ~e~ ~O~oC ~le
C. ~, Buyer, a~ Buyer's ~ee, viChtn Ct~ allowed co deliver eviO~e si title, uy ~ve
~ ~c ~ ~mczibmd in Pa~gr/~h vii hereof, t~tle to w~ch ia ~ iccoz~ce ~ S~ A-
P- ~: bller shill. ~ lees t~ 15 dame ~eZore cXoe~, z~e~ co Buy~ ~ie~ of all ~c~ ~m ~ el~l Xec~e~
~ ~ ce~c ~=~ng the ~C~e ~ ~racion or c~ c~C'e ~cu~cy. ~=~ =acc~, ~
~ch~ Chi~ CXM per~ ~ C~e Zo~ o~ · ~ell~'ff A~l~vic, ~ ~uy~r ~y Chl~iaC~e~ c~cacc C~B ~o ~ K ~~.
eup~lxe~a. ~ Mce~zalmgn i~ a~iCion to Seller'~ lien a~fidavi~ setting ZorLh ~ ~. of all ~ch gine~l c~cra~o~a.
e~onCractora, e~pl~era ~d ~cerial~n and ~h~r affxming C~C all cbargee Zor ~rov~co Or rc~rl
awst~MnCl o~ levees, c~C ~ ~age e~coppel letters, ~a co~ec~Xve ~c~ci. ~cr ~11 ~u~xsh clo~l~ ~cac~nc.
~rCg~ge, ~rCglge ~e. security lg~ee~. ~a ~l~c~g statements.
t~c~ ICiC~Ce shall be paid by ~yer.' ~ego schemes p~d ~ lev oz
rela~ud c~cle so,ices namly title or terrace charge, title ~i~nacion. ~a
~y ro~M~ble ~or ~h~ng the C~Cle evxdence xn accordance ~ch Paragraph
chz~gh day before clo~x~g. ~yer shill ~ve ~he ~clon o~ C~in9 over ~y ~ec~ ~X~c~em
event pre~ shall ~ pzozmC~, cash ac cloa~ a~Zl ~e ~czeae~ ar ~c:e~ea u
day p~lo~ Co clolt~ or oc~ t~ occup~cM oc~f M~o~e cloel~ ~v~ce g~c
~lecod ~e~nC~ on ~eal ~e~y ~ ~a~a~ 1mC ot year oC clof~, v~
e~lc~zaXly c~lwted al st E~ecCzvo D~Co, any po~ng lain .~11 be considered
--~ ........... :~ '-~ ....... - .... ~=~-=~ =~ ~::~:~Z ~-:~ ~ I::=: ~: ~-1.=r L~;~-. ~ , ~ __.~ .......... ~..~: ~.~, ~.
v~c/~ o% ~ ~r~te ~ ~cd. ~yc~ ~11 ~ve c~ ~c~on sC either C~g P~o~cy ~ re. t~e~r ~ ei~z c~ 3e or
ney ~ce p~e~ ~1~ by virtue o~ ~ch loss oF ~Mge, or st ~ncel~n9 C~gacC ~ receiv~ rec~ o~ ~olc (a).
~ ~h~ dend shall bo recorded u~n c2e~ce og
~d e~e~ gelXe~'a c~cle ~kct~Xc ~r~ c~ dat~ of tho linc o~donce. All cloe~g
6cooley sE other ~u~lly mccept~le eeczov ag~t ~or fl pe~ of =nc ~re c~ s days
C~ricc. ~c ~y. ac ~C'e option, continue
w~ll~ ~rea~ of ~ccac~ or gees. negligence et Agent.
de~l~t (I)), the de~ei~ Cf) p~d by Buyer &nd
~o ~ozce S*~tF'e r~9~cl ~e= ~f Contract. I~t~or ~ion oCh?~ chin failure o~ seller co ~e
~ter ~119~ u~far~, ~elle~ ~iLiI. neglecCf
eZtecc~ve ae ~ g~v~ ~y or co ~ac ~ircy.
~ oho ~rCy o~ pa~el ~nconded ~o be ~o~nd
I. ~s: seller ~Co chat ~here are no
~c ze~y ~ae~e ~ ~e~ o~ ~ch ~ve no~ been d~ecloled Co Buyer.