Fort Walton Beach Ordinance — 2041--Behind 30 Ready Ave ‎(Sale of Property)‎ — reading text

i_ AO Notary ' mint Name My Commission Expires: 2O oma'•. HAYWARD DYKES JR. a I Notary Public- State of Florida I 0 N a. Ar Commission; GG 147163 My Comm. Expires Jan 24. X22 ' Bet died tl' Mu4h hztiCrz! hcszr7 Assn.  Vacant Land Contract FLORIDA ASSOCIATION OF REALTORS U 1 PARTIES AND DESCRIPTION OF PROPERTY 2 1. SALE AND PURCHASE: City of Fort Walton Beach, Florida Seller") 3 and Richter Gen Enterprises, LLC Buyer") 4 agree to sell and buy on the terms and conditions specified below the property(" Property") described as: 5 Address: 6 Legal Description: To be determined by survey. Approximately 1. 8 acres( 150 ft x 526 ft+/-). See Exhibit A 7 8 9 10 11 12 including all improvements and the following additional property: N/ A 13 14 15 PRICE AND FINANCING 16 2. PURCHASE PRICE: 31, 000. 00 payable by Buyer in U. S. funds as follows: 17 ( a) $ 2, 000. 00 Deposit received ( checks are subject to clearance) on August 3, 2020 by 18 for delivery to Realty House Commercial Properties, Inc. (" Escrow Agent") 19 Signature Name of Company 20 Address of Escrow Agent) 11 Racetrack Road, NE Suite H- 1, Ft. Walton Beach, FL 32547 21 Phone# of Escrow Agent) 850- 244- 9117 22 ( b) $ Additional deposit to be delivered to Escrow Agent by 23 or days from Effective Date. ( 10 days if left blank). 24 ( c) Total financing ( see Paragraph 3 below)( express as a dollar amount or percentage) 25 ( d) $ Other: 26 ( e)$ 29, 000. 00 Balance to close ( not including Buyer' s closing costs, prepaid items and prorations). All funds 27 paid at closing must be paid by locally drawn cashier's check, official check, or wired funds. 28 f) . . - - • • .. . - , -- . 29 4et- - teem- —3T:tetre' feet- ' other ( peetf9. rereting 30 31 32 33 34 3. CASH/ FINANCING: ( Check as applicable) X(a) Buyer will pay cash for the Property with no financing contingency. 35 36 " ri,re, Ie. rte w; tk; n 37 . • 38 .. 39 40 err 41 42 43 44 45 2) Geller f„ rer. c; rty. dyer tell () cAt cut,, e - firet— • • -• 46 tar,. uunt of bee+ Yng enrruel ; rrte, cnt ut 47 48 49 50 Buyer(' /(/ )( and Seller( acknowledge receipt of a copy of this page, which is Page 1 of 7 Pages. VAC- 9 Rev 4/ 07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by True Forms'" www. TrueForms. com 800- 499- 9612 Ell Cr ntt.. Toq. ;=' r  51 52 53 54 55 56 57 58 L-N*- 59 d b{{rer-tdeseribel- 60 61 t,.., c, t , eta of X, rvl,, cl, - ror • _ . . .__ . . . . • . 62 63 9tr-er-the 64 65 66 CLOSING 67 4. CLOSING DATE; OCCUPANCY: This Contract will be closed and the deed and possession delivered on October 1, 2020 68 Closing Date"). Unless the Closing Date is specifically extended by the Buyer and Seller or by any other 69 provision in this Contract, the Closing Date shall prevail over all other time periods including, but not limited to, financing and 70 feasibility study periods. If on Closing Date insurance underwriting is suspended, Buyer may postpone closing up to 5 days after 71 the insurance suspension is lifted. If this transaction does not close for any reason, Buyer will immediately return all Seller- 72 provided title evidence, surveys, association documents and other items. 73 5. CLOSING PROCEDURE; COSTS: Closing will take place in the county where the Property is located and may be conducted 74 by mail or electronic means. If title insurance insures Buyer for title defects arising between the title binder effective date and 75 recording of Buyer' s deed, closing agent will disburse at closing the net sale proceeds to Seller( in local cashier's checks if 76 Seller requests in writing at least 5 days prior to closing) and brokerage fees to Broker as per Paragraph 17. In addition to other 77 expenses provided in this Contract, Seller and Buyer will pay the costs indicated below. 78 ( a) Seller Costs: 79 80 Recording fees for documents needed to cure title 81 Title evidence ( if applicable under Paragraph 8) 82 Other: 83 ( b) Buyer Costs: 84 Taxes and recording fees on notes and mortgages 85 Recording fees on the deed and financing statements 86 Loan expenses 87 Lender' s title policy at the simultaneous issue rate 88 Inspections 89 Survey and sketch 90 Insurance 91 Other: Taxes on deed 92 ( c) Title Evidence and Insurance: Check ( 1) or( 2): 93 X (1) The title evidence will be a Paragraph 8( a)( 1) owner's title insurance commitment. X Seller will select the title 94 agent and will pay for the owner' s title policy, search, examination and related charges or Buyer will select the title 95 agent and pay for the owner' s title policy, search, examination and related charges or Buyer will select the title agent 96 and Seller will pay for the owner's title policy, search, examination and related charges. 97 2) Seller will provide an abstract as specified in Paragraph 8( a)( 2) as title evidence. Seller Buyer will pay for the 98 owner' s title policy and select the title agent. Seller will pay fees for title searches prior to closing, including tax search 99 and lien search fees, and Buyer will pay fees for title searches after closing ( if any), title examination fees and closing fees. 100 ( d) Prorations: The following items will be made current and prorated as of the day before Closing Date: real estate taxes, 101 interest, bonds, assessments, leases and other Property expenses and revenues. If taxes and assessments for the current 102 year cannot be determined, the previous year's rates will be used with adjustment for any exemptions. PROPERTY TAX 103 DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER' S CURRENT PROPERTY TAXES AS THE 104 AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO 105 PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE 106 PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING 107 VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER' S OFFICE FOR FURTHER INFORMATION. 108 ( e) Special Assessment by Public Body: Regarding special assessments imposed by a public body. Seller will pay ( i) the 109 full amount of liens that are certified, confirmed and ratified before closing and ( ii) the amount of the last estimate of the A 110 Buyer( ) L )( and Seller( acknowledge receipt of a copy of this page, which is Page 2 of 7 Pages. VAC- 9 Rev. 4/ 07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by True Forms'" www. TrueForms. com 800-499- 9612 111 assessment if an improvement is substantially completed as of Effective Date but has not resulted in a lien before closing, 112 and Buyer will pay