Res 47-95 RESOLUTION NO. 47-95
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO
PURCHASE FROM SELLER CERTAIN REAL PROPERTY IN PALM
BEACH COUNTY, FLORIDA, KNOWN AS THE LAKEVIEW GOLF
COURSE, AS MORE PARTICULARLY DESCRIBED HEREIN, HEREBY
INCORPORATING AND ACCEPTING THE CONTRACT STATING THE
TERMS AND CONDITIONS FOR THE SALE AND PURCHASE
BETWEEN THE SELLER AND THE CITY OF DELRAY BEACH,
FLORIDA.
WHEREAS, the City of Delray Beach, Florida, wishes to
acquire real property known as the Lakeview Golf Course located on
Lakeview Drive, City of Delray Beach, Florida, and associated personal
property; and
WHEREAS, the Seller, Lakeview Golf Club, Inc., desires to
sell the property hereinafter described to the City of Delray Beach,
Florida; and
WHEREAS, it is in the best interest of the City of Delray
Beach, Florida, to purchase said property in order to provide the
citizens of Delray Beach an executive golf course facility for
recreation purposes.
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, hereby agrees to purchase from Lakeview Golf
Club, Inc., as Seller, land, appurtenances, and personal property to
provide for a public golf facility for the purchase price of Two
Million One Hundred Fifty Thousand Dollars ($2,150,000.00) and other
good and valuable consideration; said Parcel being more particularly
described as follows:
See Exhibit "A"
Section 2. That the costs of closing the transaction,
including but not limited to title insurance, document preparation and
attorney's fees shall be in the amounts and shall be paid in the
manner set forth in the Contract for Sale and Purchase and Addenda
thereto.
Section 3. 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 Seller as hereinabove named are
incorporated herein and are set forth as Exhibit "B" hereto.
PASSED AND ADOPTED in regular session on this the 20th day
of June, 1995.
ATTEST:
C~ty Cl~kd !
- 2 - Res. No. 47-95
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PARTIES: LAKEVIEW GOLF CLUB~ INC.
o~ c/o David W. Schmidt~ Esq.: 1(]0 [~.E. Fifth Avenue. Delra_v Bch.FI~ph~.)407-278-2601
o~ 100 N.W. 1st Avenue. Delrav Bch.~
hereby agree ~at Seller s~ll sell a~ Buyer shell buy the tol~ing Real Pr~er~ a~ ~O~1 P~ (~ly ~ ~ ~ ~l~ng lares a~ ~i~. ~h
INCLUDE Slandards lot Real Estale Transa~nS (~tan~ard~sF) on ~ re~rse N~ ~ I~d ~reto and H~m a~ a~a to this ~m~ ~ ~le a~ Pu~se ('~t~').
I. DESCRIP~ON:
(a) Legal de~ription of Real Pr~e~ l~aled in ~a[m ~each ~.F~a: See legal desc:~p[~on aC[ached
he:e[o as ~xh~b~ "R" and made a
buildinq~ and appurtenances now ~xi~tin9 on the property.
(bi S~eet address, ci~, zip, ol the P~
See a~:ached Addendum and Schedule "A".
II, PURCHASE PRICE ........................................................................................................................................................................................ $ 2 f 150 f 000.0
PAYMENT: - 0 -
(a) Deposit hetd in escrow by in Ihe amount of .............................. $
(bi Additional escrow deposit within days after Effective Date (as defined in Paragraph itl) in the amount of ................................ $ - 0 -
(c) Subject to AND assumplion ot morlgage in good standing in lavor ol - 0 -
having an approximate present principal balance of ...................................................................................................................................... $
(d) Purchase money mortgage and note (see addendum) in the amount of .................................................................................................. $ - 0 -
· .(e) Other: $ - O
(fi Balance Io ctos~ by U.S. cash. LOCALLY DRAWN certified or cashier'S check or third-party loan, subject lo ediustmanfs and prorations ............ $ '~. I c, ~: fl (~ t3 _ I'1
IlL TIME FOR ACCEPTANCE OF OFFER: EFFECTIVE DATE; FACSIMILE: ff this offer is not executed by and delivered lo ell parties OR FACT OF EXECUTION comm,dmcated in
writing between the parties on or before J U ne 21 t .1, 9 9~5. Ihe deposil(s) will. al Buyer's option, be returned lo Buyer and this offer withdrawn. The date of Co~lract (=Effective
1~3.~') will be Ihe dale when fhe last one of Ihe Buyer and Seller bas signed this oiler A facsimile cody ol this Contract end any a~gcaturas hereon shall be considered for all pulposes as or.hals
IV. FINANCING:
(e) ft the purchase Pflce o~ any pad o{ it is io be fmanced by a Itwd-party Ican. ~",is Cofltrsct is ccmditloned On Buym c~DtaJning e written commftme~l wflhin N_N_/__~',days aflor El~.-~ive Da~e Ic~
(CHECK ONLY ONE): :J a fised; ~J an adjustable: o~ .I a lt~ed or ecljustable rate loan lo~ the ~1 ~nt ~ $ N/A . at an mit~ interasl rate r~ to exceed N/A%.
reasonable diligence to obtain lhe loan commitment and, thereafter, to satisfy the lares and conditions of the commitment and dose the toan Buyer sha;I pay all loan
ff Buyer lails to oblain the commitmenl or lails to ,~-atve Buyer's dghts under this subparagraph within the time for obtaining the commitment or. after ditigenl effort, fails to m~l
the terms and conditions of the commitment, then either perly Iheraafter, by written notice to the ofher, may cancel this Contract and Buyer shall be refunded the deposal(s); or
(bi The existing mortgage described in Paragraph Il(c) above has (CHECK ONLY ONE): ~ avedeble interest rate; or ~J a fixed ~tarest rate of m / a % p~r annum. At ,me of
title transfer some fixed interest rates are subject fo increase ff increased, the rale shall not exceed N / A % par annum. Seller shall wifhin N / a days after EffeCtive Data.
furnish e statement from each mortgagee slating principal balance, melhod ol payment, inleresI rate sod status of mortgage. If Buyer has agreed to assume e mortgage which
requires approval of Buyer by the mortgagee for aseumplion, then Buyer shall promptly obiaio the necessary applicelion and ddigeelly complete and return it to the r~gage~
Any mortgagee charge(s) nol to exceed $ m / a ____ shall be paid by Buyer. If Buyer is nol accepled by mortgagee or Ihe requirements for asscmphon are
in accordance with Ihe terms of this Conlract or mortgagee makes e charge in excess of Ihs staled amounl, Seller or Buyer may rescind this Contract by written notice to the other
party unless either elects fo pay the increase in inlerast rate or excess modgagee charges.
V, * TITLE EVIDENCE: At least -- 10-- days before closing date. but no earlier than N / a days aher Se#er receives written notification Ihat Buyer has obis,ned th~ loan
cornmitmenl or been approved for the loan assumpbon as provided in Paragraphs IV(a) or (bL above, or, if applicable, waived the financing requirements, (CHECK ONLY ONE): ~ Se#er
shall, at Seller's expense deliver Io Buyer or Buyer's altorney; Or J Buyer shall al Buyer's expense obtain, in accordance with Standard A, ~CHECK ONLY ONE) .I abslract ol bda; or16
lille insurance commitmenl twith legible copies of instrun~enls listed as exceptions) and. after closing, an owner's policy Of title insurance see addendum .
vi. CLOSING DATE: This transaction shall be dosed and the deed and other closing papers delivered on R / ~ / q I~ , un.as emended by other prO~asions of this C. oftlraCt.
VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer sha~l lake lille sub, ecl to: comprehensive land use plans, zoning, restrfctiorts, prohibitions and other requirements ~
by governmental aufhori%'; restrictions and matters appearing On the plal or olharwise common Io Ihe subdivision; public utili%' easements of record (easemenls are~o be located CO~llgUo~js
to Real Property lines and not more than 10 leal in width es to the rear Or tronl lines and 71/2 leer in wio~h as to the side lines, unless other~se staled herein)~axes lot year of c~
and subsequent yearsfa~sHmed rnorl~,a~es an~J purchase money mortgages, if any; (if other maffers, see Paragraph XV); provk~ed, that there exisls al dosiog no violation ol the
- lC ,1 e
an~l ..... f ther. n prexe~ls'Iuseao~{~Pioper~y]~)or gO1 f COLlr~e pu,pcee(a)
VI'~.P~A~: Seller wanects that there are no parties in occupancy olhar than Seller; but, il Property is intended to be rented or occup'ed beyond closing, the facl and lares
Ihereof shall be staled herein and Ihe lenent{s) or occupants oqsclosed pursuant to Standard F. Selle~ shell deliver occupancy ol Prober%, at time of dosmg unless other~qse slated herein
If Occupancy is to be delivered before closing, Buyer assumes all risk of loss to Property Irom date of OCcupancy, shall be responsible and liable for maintenance from tlral dale, and shall
be deemed to have acCapled Property in ils existing condition es of time of taking occupancy unless oIhe~'wise stated herein.
IX, TYPE WRITrEN OR HAH DWRITI'EN P ROVI$1ON S: Typew~ff en Or handwriffen ~, riders and eddecda shal{ contel al~ pried prov~.'~:ms of this Contract in conflict w~ them
X. RIDERS: (CHECK those riders w~k~h are ~ AND are attached lo bhis Contract):
(a) 3 COASTAL CONSTRUCTION CONTROL LINE RIDER (e) LJ INSULATION RIDER
(b) Q CONDOMINIUM RIDER (f)CI 'AS IS' RIDER
(c) L) FHA/VA RIDER (g)
(d) L.I FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT RIDER (h) %)
XI. ASSIGNABILITY: (CHECK ONLY ONE): Buyer J may assign and thereby be released trorn any lurther liabilily under this Contract: ~ may assign but not he released from Ilabilily
under this Conlracl; or~ may not assign this Contract.
Xl(. TIME: T,.me ~s ot the essence of this Contract.
XlII. DISCLOSURES: Buyer (CHECK ONLY ONE) :..1 acknowledges; or :J does nOl acknowledge receipt of the Agency/Radon/Conlp~nsalion. the Real Properly Sales Expense
Disclosure Warning, and, it applicable, the Mandatory Homeowners' Association disclosures. BUYER'S INITIALS.
XlV. MAXIUUM REPAIR COSTS: Seller shall nol be responsible lot lhe payment of costs ilq excess ol:
(a) $ lq' ./7% Ior treatment and repair unde~ Standard D (if blank, Ihen 2% of Ihs Purchase pnce).
(b)$ _N~ I(x' repair and replacement under Standard N (if blank, then 3% Of lhe Purchase Price).
XV, SPECIAL CLAUSES: If ado%ticrml apace is required, affach addendum end CHECK HERE :~
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATI'ORNEY PRIOR TO SIGNING,
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
Approval o~ea not ~onst~tule an op~on tha~ any of Ihe terms and cond~l/ona tn this C~ntract ShOuld de a~epted by the pan~s ~n a ~3~fl~ul~r transecl~n, Teflrls and conditions shouk7
he ne~ol~ated de~ t~on the ~espec~ve iolerests, o~livea and ba~ainin; ~gs#ions of al~ kllana$le~ per~ons.
(Buyer> City of Delray Beach (Date) (se~m')Lakeview Golf Club, Inc. (Date)
Social Secufi%' or Tax I.D # Social Secufi%' or Tax I.D #
(Buyer) (Dale) (seller) (Date)
SOCSal Security o~ Tax I.D # Social Secud%' Or Tax I.D. II
R THAN CA~H, THEN SUBJECT TO CLEARANCE. ~row Agenll
g bro&ers. Bra the only bs. okers ' ~on in coflnect~o~ with th4s Cofltract:
Uatlng BroKer~.~.,./ Cooperating Brokers, If .,ny ~ ~._ ~
A. EVIDENCE OF TITLE: (1) An abstract ~if ~ prepared or brought current by a repulable and exisling abslract firm (if riel existing then certilied as correct by an exisling firm) purpc~
to be an sccurale synopsis Of the instruments aflecling title Io the Real Property recorded in the public records of Ihs county wherein Real Property is located through Effective Cate al
which shall commence with the earl~esl public records, or such later date as may be cuslomary in the counly. Upon closing of this transaction, the abstracl shall become the property
Buyer, subject Io the right of retenlion thereof by first mortgagee until fully paid. (2) A title insurance commitment issued by a Florida licensed lille insurer agreeing o ssue Io Buyer up~
recording of the deed lo Buyer, an owner's policy of title insurance in the amount of the purchase price insunng Buyer's title Io the Real Property. subject only 1o liens, encumbrance,
exceptions or qualifications sel forth in Ihis Conlracl and those which shall be discharged by Seller at or before closing. Seller shall convey markelable lille sub)ecl only tb lien~
encumbrances, exceptions or qualifications specified in this Contract. Marketable lille shall be delermined according 1o applicable Title Standards adopled by authority Of The Florida B
and in accordance with law. Buyer shall have 30 days. if aba fac. or 5 days. if ile commitment from dale of receiving evidence of title to examine il If title is Iound detective. Buyer sh~
within 3 days thereafter, notify Seller in writing specifying defecl(s) If the defect(s} render lille unmarketable. Seller will have 30 days from receipl of notice Io remove the delecls, faifir
which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice lo Seller either: (1) exlending Ihe time for a reasonable period nol to exceed 12
days within which Seller shall use diligenl effort fo remove the defects; or (2) requesting a refund Of deposit(s) paid which shal{ immediately be returned 1o Buyer Il Buyer leifs to so nofit
Seller. Buyer shell be deemed to have acoepled Ihe lille as il then is Seller r, hall. if lille is found unmarkelable, use dlligenl eftort lo correct delecl(.~) in the lillP within the
provided Iherefor II Seller is unable lo remove lite defecls wifhill ifle I,tles allowed therefor, Buyer shall either waive the pelecls o~ receive a refu~td of deposit{s) thereby leleasll~ Buyl
and Seller Irom all lurther obligation under this Conlract
C. SURVEY; Buyer, st Buyer's expense, within lime allowed to deliver evidence of title and to examine same. may have the Real Property surveyed and certified by a registered Fiend
surveyor, if survey shows encroachmenl on Real Propedy or that imp;ovemenls Iocaled on Real Pro~oerty encroach o~ setback lioes, eaaemenls, lands of others or violate any restnclK)n~
Contract covenants or applicable govemmen a regulation, fh~ same shall conslifule s lille defect
E. IAtGRESS AND EGRESS: Seller warrants end represehts thal there is ingress a~d egress to the Real Property sufficient tor its inlended use as descnbed in Paragraph VII hereol, ftfl
tb which is in accordance with Standard A
F. LEASES: Seller shall, noI less than 15 days before closing, lumish Io Buyer copies of all written leases and estoppel letters from each tenenl specifying the nature and duration Of Ih
lenant's Occupancy. rental tales, advanced rent end security deposits paid by lenanl if Seller is unable fo obtain such letter from each tenant, the same informalion shall be furnished b
Seller to Buyer within that time pehod in the form of a Seller's affidavit, and Buyer may therealler contacl lenants Io confirm such information. Seller shall, al closing, deliver and ssaig
all original leases lo Buyer.
G. LIENS: Seller shall fumish to Buyer at time el closing an aflidavit attesting to the absence, u~less othen~,'ise prov dad for herein, of any financing slatemenL claims of lien or potanli;
lienors known to Seller and further affesling that there have been no improvemenls or repairs to the Property for 90 days immediately preceding dale Of closing If Proberty has bee
improved or repaired Within thai time, Seller shall deliver releases or waivers of conslruclion liens execuled by all general contractors, subconlraclors, suppliers and materialman
addition lo Seller's lien affidavit setting forth the names el ell such general confrectors, subcontractors, suppliers and materialman and further affirming that all charges for improvement
or repairs which could serve as e basis for a cons/ruction lien or e claim tot damages have peen paid or will be paid at closing of this Contract
H, PLACE OF CLOSING: Closing shall be hold in the county wherein the Real Property is located al the office Of the attorney or other closing agent designaled by Seller
I. TIME PERIOD: In computing lime periods of less than six (6) days. Saturdays. Sundays and stale or nahonal legar holidays shall be excluded. Any time periods provided lot herein whip,
sha~l end on a Salurday, Sunday or a legal hohday shali extend to 5:00 p m. of Ihs nexl business day.
J. DOCUMENTS FOR CLOSING: Seller shall furmsh the deed. bilr Of sale. conslruclion lien affidavit. Owner's possession affidavit, assignmenls el leases, tenant and mortgagee eslof~p~
letters and corrective inslruments Buyer shall furnish closing slatament, mortgage, mortgage note. security agreement and financing statements
K. EXPENSES; Documentary stamps on the deed and recording Of corrective instruments shalr be paid by Seller
' . . . er expenses and revenue el Property snail De prorated through day betbre closing Buyer shall hey
the option of taking over any existing policies of insurance, if assumable in which evenl premiums shall be prorated. Cash al closing shall be increased or decreased as may be require
by prorations Prorations will be made through day prior to Occupancy if occupancy Occurs balers closing. Advance rent and sacudty debosifs will be credited 1o Buyer and escrow ~eposit
held by mortgagee will be credited lo Seller Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and oth~
exempllons It closing occurs al a date when the currenl year's millage is riel lixed and currenl year's assessment is available, faxes will be proraled based upon such assessmenl an
the prior year's millage If currenl year's assessment is r~l available, then taxes will be prorated on the prior year's lax. If there are completed improvements on fha Real Prop*arty b
January 1si Of year Of closing, which improvemenls were nol in existence on January 1st of the prior year, then taxes shall be proraled based upon the prior year's millage add al a.
equ*table assessment Io be agreed upon belween Ihs parties, failing which, request will be made tb the County Property Appraiser for an informal assessmenl taking inlo considerstlo
available exemplions Any lax proralion based on an esfimale shall, al request of either Buys or Seller be subsequently readjusted upon receipt of lax bill on condition that a statamer
M. SPECIAL ASSESSMENT LIENS: Certified. conl*rmed and ratified special assessment liens as Of dale of closing (not as Of Effective Dale) are to be paid by Seller Pending liens as c
dale el closing shall be assumed by Buyer II the improvement has been substantially completed as of Effeclive Dale. any pending lien shell be considered certilied, confirmed or ratihe~
r L'~; ii the Properly ~s damaged by fire or other casually before closing and COSt of resloralion does ~ot exceed 3% of tbe assessed vatualion of the Property so damage~
coal of restorabon shall be an obligation of the Seller and closing shall proceed pursuant lo Ihs terms of this Contract with restoration coals escrowed al closing I~ the coal of restorallol
exceeds 3% of Ihs assessed valuation of the improvements so damaged. Buyer shall have the Oplion Of either taking Property as is. together with either the 3% or any insurance proceed,
pa'~able by virtue of such loss or damage, or Of canceling lhis Conlract and receiving re/urn Of deposit(s).
P. PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance Of funds. If abstract of title has been furnished, evidence of title shall be continued a
Buyer's expense to show t I e in Buyer. withoul any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence PrOceeds of the sale
be held in escrow by Seller's attorney or by another mulually acceptable escrow agent lot a period of not more than 5 days after closing dale. If Seller's title is rendered unmarketable
through no fault of Buyer, Buyer shall, within the 5-day period, notify Seller in writing of Ihs delecl and Seller shall have 30 days from dale Of receipt of such notificallon to cure the pefect
It Seller lails to timely cure fha defect all deposit(s) and closing funds shall, upon wriden demand by Buyer and within 5 days after demand, be returned Io Buyer and, simultaneously wilt
such repayment. Buyer shaft return the Personal Property. vacale the Real Property and reconvey the Property to Seller by special warranty deed and bill of sale If Buyer laifs 1o make:
hmely demand Ior refund, Buyer shall lake lille as is. waiving all dghls against Seller as 1o any inlervenlog defect except as may be available lo Buyer by virtue of warranlies contained ir
the deed or bill of sale If a portion Of the purchase price is Io be derived from instifulional financing or relinancing, requirements of tbs lend ng ns ul on as Io place, time of day
prOcedures for closing, and for disbursemenl Of mortgage prOceeds shall control over conlrary provision in Ihis Contracl Seller shall have the righl Io require trom the lending insliful~On ;.
written commifmenl thai il will not withhold disbursement of mortgage proceeds as a result of any title defect attributable Io Buyer-mortgagor. The escrow and closing procedure requirer
by this Standard shall be waived if lille egenl insures adverse matters pursuant tb Section 627.7841. F.S (1993). as amended
G. ESCROW: Any escrow agenl t'A_oenl~") receiving funds or equlvalenl is authorized ancl agrees by acceplance Of them Io deposit Ihem promplly, hold same in escrow and. subject tr
clearance, disburse them in accordance with lerms and conditions of Contract Failure of clearance Of funds shall riel excuse Buyer's pertormance I1 in doubl as to Agenl's dul~es o
liabilities under the provisions el Contract Agenl may. al Agenl's option, continue to hold tho subiect mailer of Ihs escrow until the parties mulually agree Io its dlsbursemenl or unlil ~
judgment Of a court of competanl jurisdicllon shall delermine Ihs rights of the parties or Agent may deposit same with fha clerk of Ihs citcuif court having iurisdiction Of the dispute. Upor
nolitylng all parties cor~cerned of such action, all liability on Ihs part of Agenl shaft tully terminate, except Io the exlent of accounting for any items previously delivered out Of escrow. If ~
I~Censed real eslale broker. Agenl will comply with provisions of Chapter 475. F.S (1993). as amended. Any suit pelween Buyer and Seller wherein Agenl is made a party because o
acling as Agenl hereunder, or in any suit wherein Agenl lolerpleads the subject metier of the escrow. Agent shall recover reasonable attomey*s fees and coals incurred with the fees an('
coals to be paid from and out of the escrowed funds or equivalenl and charged and awarded as court costs in laver of tbs prevailing party. Parties agree that Agenl shall riel be liable I(
any party or person fOr misdeliver~ Io Buyer or Seller of items subjecl 1o this escrow, unless such mispelNery is due Io wifllul breach Of this Cofllract or gross negligence of Agenh
R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcemenl or inle~retaflon, ansing o~1 of this Corifract the prevailing party in such litigation which. Ior the putbose.~
Of this Standard, shall include Seller, Buyer and any brokers acling in agency or nonagency relationships authorized by Chaplet 475, F.S (1993), as emended, shall be enlifled to recove~
reasonable attorney's fees. costs and expenses.
S. FAILURE OF PERFORMANCE: If Buyer fails to pertonm this Conlracl within the time specified, including bayment of all peposit(s), the deposit(s) paid by Buyer and deposit(s) agreed
to be paid. may be retained by or for the accounl el Seller as agreed upon liquidated damages, co~sideralion Ior the execution of this Conlracl and in fut~ settlemenl of any claims
whereupon. Buyer and Seller shell be relieved of all obligations under this Conlract: or Seller, et Seller's oplion, may proceed in equity to enforce Seller's rights under this Contract If
shy reason other then failure Of Seller to make Seller's title marketable after diligen effort. Seller fails. ~eglects or refuses to perle,m1 this ContracL the Buyer may seek specific performance
or elect to receive the return Of Buyer's deposit[s) withoul thereby waiving any action for damages resulting from Seller's breach.
T. CONTRACT NOT RECORDABLB; PERSONS BOUND; NOTICE: Neither this Conlract nor any nolice Of it shall be recofOed in any public records This Contract shall b~nd and inure
10 fha benefit of the parties and theri suCCessors in i~erest. Whenever the contexl permits, singular shall include plural and one gender shall ir~'lude ali Nolice given by or Io the allorne~,
tbr any parly shall be as effective as it given by or Io thai party.
U. CONVEYANCE: Seller shall convey fttle lo tho Real Property by slatutory warranly, frustee'S, personal representatives or guardian's deed. es appropnate to the slalus el Seller. sub~ec*
title,°nly subjectl° mattersontycontainedlo such meftersin ParagraPhas mayVllbeendotherwiseth°se otherwiSeprovidedaoceptadlor herein.bY Buyer. Persona PrOperty shell, a requesl of Buyer . be transferred by an absolute bill Of sale with warranty o'
V. OTHER AGREEMENTS: No prior or presanl agreements or representations shall be binding upon Buyer or Seller unless included in this Contract No modification Or change in thi,.
Contracl shall be valid or binding upon Ihs parties u~less in wdting and executed by the party or peffies inteoded to be bound by if.
W. WARRANTY: Seller warrants that there are ,no facts known to Seller materially affecting the value Of the Properly which are not readily observable by Buyer or which have nol peer
disclosed to Buyer.
CITY JIF DELRAY BEACH
CITY ATTORNEY'S OFFICE ~oo ~w ,~ ^v~.~. ~],^¥ ~.^~., ~o~,~,, ~.~
FACSIMILE 407/278-4755 Writer's Direct Line: (407) 243-7091
DELRAY BEACH
Ali. America City MEMORANDUM
DATE: June 16, 1995
~9% TO: City Commission ~I~-' '~'O~o0/~/~Pfi~ d,'55Bl~'~
~/~1~
FROM: Susan A. Ruby, City Attorney
SUBJECT: Lakeview Golf Course Purchase
The Contract for Sale and Purchase of Lakeview Golf Course is before you for your
consideration.
The Contract provides for the following:
1. Purchase price - $2,150,000.00.
2. Closing date - August 2, 1995.
3. Seller to pay for Documentary Stamps, title insurance and Seller's attorney's
fees.
4. Seller will pay all outstanding debts, etc., on the property to closing.
5. The City will honor league commitments through October 31, 1995.
6. The City will honor all existing play cards and shown in Exhibit C to the
Addendum until October 31, 1995 and all league commitments (which includes
tee times and $1.00 reduced green fees through October 31, 1995.
7. The City, if it decides to purchase the property, will have 40 days to conduct
inspections, etc., which should include an environmental assessment.
8. The City, if it decides to do so, will be purchasing the property in its "as is"
condition. The City must provide written notice within 40 days if it decides not to
proceed to close on the property. If the City fails to provide such notice, the City
Printed on Recycled Paper
Memo to City Commission
June 16, 1995
Page 2
must close on the property or be in breach of the contract. If the City provides
timely notice of its intent not to proceed, then the contract is void.
By copy of this memorandum to David Harden, City Manager, please place this matter
including Resolution No. 47-95 on the City Commission's June 20, 1995 agenda for this
consideration.
~Harden, City Manager
Alison MacGregor Harty, City Clerk
Bob Barcinski, Assistant City Manager
Braham Dubin
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