Fort Walton Beach Ordinance — 2126--Disposition of Surplus Property - 760 Lovejoy Road NW to Daher Contracting, Inc. — reading text

READING DATE 1st gQ/ 93 ORDINANCE 2126 2nd 1A523., AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, AUTHORIZING THE DISPOSITION OF REAL PROPERTY LOCATED AT 760 LOVEJOY ROAD NW, DESCRIBED HEREIN, TO DAHER CONTRACTING, INC., AND AUTHORIZING AND DIRECTING CLOSURE BY THE MAYOR, CITY MANAGER, CITY ATTORNEY, AND CITY CLERK; AND PROVIDING AN EFFECTIVE DATE WHEREAS, the City Council previously deemed 760 Lovejoy Road NW (" Property") as surplus property which encompassed approximately 3. 64 acres of land and advertised it for sale; WHEREAS, the City Council was presented with three offers for purchase and decided to accept the offer from Daher Contracting, Inc.; WHEREAS, pursuant to City of Fort Walton Beach Code of Ordinances, Section 2. 00.05, the City Council must convey any surplus real property via ordinance; and WHEREAS, the Property will be transferred to Daher Contracting, Inc, for the purchase price of $351, 135 upon adoption of the Ordinance transferring the property on second reading and closing and recording of the deed. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: SECTION 1. AUTHORITY & INTENT. The authority for enactment of this ordinance is contained in Section 2. 00.05 of the Code of Ordinances. The City intends to transfer City-owned property located at 760 Lovejoy Road NW to Daher Contracting, Inc. The City has no future need for the property and has obtained an independent fair-market appraisal. The property is an approximately 3. 64- acre parcel located at 760 Lovejoy Road NW and has Parcel ID No. 08- 2S- 24- 0000- 0002- 0000. SECTION 2. PROPERTY DESCRIPTION. The property located at 760 Lovejoy Road NW to be transferred consists of the following parcel: A STRIP OF LAND LYING SOUTH OF LOVEJOY ROAD AND WEST OF LOT 4, S P INDUSTRIAL PARK SUBDIVISION, PER PLAT THEREOF AS RECORDED IN PLAT BOOK 20, PAGE 48, PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA, DESCRIBED AS: COMMENCE AT THE SW CORNER OF THE SE 1/ 4 OF SECTION 8, TOWNSHIP 2 SOUTH, RANGE 24, WEST OF TALLAHASSEE MERIDIAN, OKALOOSA COUNTY, FLORIDA, THENCE N01° 20' 20" E ALONG THE WEST LINE OF THE SE 1/ 4, ALSO BEING THE EAST BOUNDARY LINE OF HURLBURT AIR FORCE BASE A DISTANCE OF 150. 00 FEET TO THE POINT OF BEGINNING AS MARKED BY A CAPPED IRON ROD LB 4157; THENCE CONTINUE ALONG SAID EAST AIR BASE BOUNDARY N01° 20' 20" E A  DISTANCE OF 1064. 61 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF LOVEJOY ROAD; THENCE ALONG SAID SOUTH RIGHT OF WAY S88° 02' 54" E 148. 05 FEET; THENCE DEPART SOUTH RIGHT OF WAY LINE AND PROCEED S01° 34' 02" W A DISTANCE OF 1066. 89 FEET TO THE SOUTHWEST CORNER OF LOT 4, S & P INDUSTRIAL PARK SUBDIVISION AS MARKED BY A 4 INCH CONCRETE MONUMENT; THENCE N87° 10' 56" W A DISTANCE OF 150. 06 FEET TO THE POINT OF BEGINNING CONTAINS 3. 64 ACRES OR 158, 836 SQ. FT. SECTION 3. DISPOSITION OF CITY-OWNED PROPERTY The disposition of the City-owned property at 760 Lovejoy NW will occur via execution by both parties of a Sales Contract as attached ( Exhibit A) and recording of a Special Warranty Deed. SECTION 4. FINDINGS. The City Council of Fort Walton Beach finds that the contract award is made based upon consideration of best price and utilization of the property and development for uses benefiting the City and its citizens. SECTION 5. EFFECTIVE DATE This Ordinance shall take effect immediately upon approval on second reading by City Council and signature of the Mayor. Adopted: }- 4ur1- aa ao 3 Richard A. Rynearso , ayor Attest: Approved for form, legal sufficiency Kim . Barnes, City Clerk Kimberly Ror . no K p., Interim City Attorney Orr * At Adalfr iV dotloop Signature verification: Vacant Land Contract Realtors 1. 1. Sale and Purchase(" Contract"): city of Fort Walton Beach 2" Seller") and Daher Contracting Inc. 3 Buyer") ( 4 described as: the" parties") agree to sell and buy on the terms and conditions specified below the property(" Property") 5• Address: 754 Lovejoy Road, Fort Walton Beach, FL 32548( per the MLS, subject to GIS clarification) 6• Legal Description: Metes and bounds description 7 8 9 10 i i• SEC TT VP 1 / RNG of Okaloosa County County, Florida. Real Property ID No.:-og- 2s-24-0000-0002. 0000 12. 13 including all improvements— existing on the Property and the following additional property: 14' 2. Purchase Price: ( U. S. currency) 351, 135 15 All deposits will be made payable to" Escrow Agent" named below and held in escrow by: 16• Escrow Agent's Name: Hand Arendal Harrison Sale LLC 17' Escrow Agent' s Contact Person: Hayward Dykes, Jr. 18• Escrow Agent' s Address: 35008 Emerald Coast Pkwy, Suite 500, Destin, FL 32541 19• Escrow Agent' s Phone: 850-650-00w 20• Escrow Agent' s Email: hdykes@handfirm. co 21 a) Initial deposit($ 0 if left blank) ( Check if applicable) 22• accompanies offer 23" Will be delivered to Escrow Agent within 3 days ( 3 days if left blank) 24• after Effective Date 30, 000 25 b) Additional deposit will be delivered to Escrow Agent( Check if applicable) 26• 0 within N/A days ( 10 days if left blank) after Effective Date 27• 0 within N/ Adays ( 3 days if left blank) after expiration of Due Diligence Period N/ A 28• c) Total Financing see Paragraph 6) ( express as a dollar amount or percentage) N/ A 29• d) Other: N/ A N/ A 30 e) Balance to close ( not including Buyer' s closing costs, prepaid items, and prorations) 31• to be paid at closing by wire transfer or other Collected funds remainder 32' f) 0( Complete only if purchase price will be determined based on a per unit cost instead of a fixed price.) The 33' unit used to determine the purchase price is 34• lot 0 acre 0 square foot 0 other (specify): prorating areas of less than a full unit. The purchase price will be$_ per unit based on a 35 calculation of total area of the Property as certified to Seller and Buyer by a Florida licensed surveyor in 36 accordance with Paragraph 8( c). The following rights of way and other areas will be excluded from the 37• calculation: 38 3. 39• Time for Acceptance; Effective Date: Unless this offer is signed by Seller and Buyer and an executed copy delivered to all parties on or before per Council process this offer will be withdrawn and Buyer' s deposit, if 40 any, will be returned. The time for acceptance of any counter-offer will be 3 days after the date the counter-offer is 41 delivered. The " Effective Date" of this Contract is the date on which the last one of the Seller and Buyer 42 has signed or initialed and delivered this offer or the final counter-offer. 43' 4. Closing Date: This transaction will close on 10 days after due diligence (" Closing Date"), unless specifically 44 45 extended by other provisions of this Contract. The Closing Date will prevail over all other time periods including, 46 but not limited to, Financing and Due Diligence periods. However, if the Closing Date occurs on a Saturday, Sunday, or national legal holiday, it will extend to 5: 00 p. m. ( where the Property is located) of the next business 47 48 day. In the event insurance underwriting is suspended on Closing Date and Buyer is unable to obtain property 49 insurance, Buyer may postpone closing for up to 5 days after the insurance underwriting suspension is lifted. If this transaction does not close for any reason, Buyer will immediately return all Seller provided documents and 50 other items. 51 5. Extension of Closing Date: If Paragraph 6( b) is checked and Closing Funds from Buyer's lender(s) are not 52 available on Closing Date due to Consumer Financial Protection Bureau Closing Disclosure delivery requirements Buyer)I! rjand Selle j. acknowledge receipt of a copy of this page, which is 1 of S pages. VAC- 141y" S} 4 1 202221 Florida Realtorse dotloop signature verificat, on. 53 CFPB Requirements), if applicable, then Closing Date shall be extended for such period necessary to satisfy 54 CFPB Requirements, provided such period shall not exceed 10 days. 55 6. Financing: ( Check as applicable) 56• a) 0 Buyer will pay cash for the Property with no financing contingency. 57. b) 0 This Contract is contingent on Buyer qualifying for and obtaining the commitment(s) or approval( s) 58• specified below(" Financing') within days after Effective Date ( Closing Date or 30 days after Effective 59• Date, whichever occurs first, if left blank) (" Financing Period"). Buyer will apply for Financing within 60 days after Effective