Fort Walton Beach Ordinance — 1690 sale excess property 55 hill — reading text

Purchaser pending the determination of such action. Seller shall give Purchaser written notice of election with respect to Seller's exercise of either of these options. ( 2) If Seller fails or refuses to perform obligations hereunder, including the furnishing of good title as herein defined and transfer of possession, Purchaser may either: ( a) cancel the contract and recover all deposits and other amounts paid by Purchaser hereunder, and all expenses paid or incurred; or b) pursue any remedy available to Purchaser, in law or equity, including an action to compel specific performance of this contract, or one for damages for breach, separately or alternatively. SECTION IX. ASSIGNMENT; MODIFICATION; ENTIRE AGREEMENT OF PARTIES EXPRESSED. No right or interest of Purchaser hereunder shall be assigned without the prior written consent of Seller, which consent shall not be unreasonably withheld. No modification of this conttact shall be valid or binding unless such modification is in writing, duly dated and signed by both parties. This instrument constitutes the entire agreement between the parties. Neither party shall be bound by any terms, conditions, statements, or representations, oral or written, not herein contained. Each party acknowledges that in executing this contract he or she has not been induced, persuaded, or motivated by any promise or. representation made by the other party, unless expressly set forth herein. All previous negotiations, statements, and preliminary instruments by the parties or their representatives are merged in this instrument. SECTION X. SIGNATURE AND EFFECTIVE DATE. This instrument shall not be effective as a contract until duly signed by both parties. The date of execution and effective date of the contract is the latest date set forth below by signature of the parties. In witness whereof, the parties have executed this instrument. I S. Hsu, Ph.D Its: Chairman of the Board Seller: CITY OF FORT WALTON BEACH, FLORIDA Attest: By: Michael G. Anderson City Clerk Its: Mayor This instrument was prepared by: Toni L. Craig, Fla.BarNo. 115444 244 Racetrack Rd NE Fort Walton Beach FL 32547 Addendum to Contract for Sale 55 Hill Avenue 1. Earnest Money Deposit $ 1, 000 was received on June 27, 2005 2. Buyers will purchase the property " as is" in the amount of $380, 000.00 ( cash, certified check or money order). 3. Buyers will pay the City' s attorney fees at $ 500. 00. 4. Buyers will pay the City' s appraisal costs at $ 2, 300. 00. 5. Buyers will close within thirty ( 30) days upon passage of an Ordinance by the City of Fort Walton Beach authorizing the sale of the property. 6. Buyers will pay all closing costs including Deed Doc Stamps upon the closing of the property . 7. Buyers will give the City of Fort Walton Beach ten foot easement for the installatio~ maintenance, repair and servicing of utilities for the benefit of the City F ort Walton Beach, Florida, along the west property line of the above described property, which adjoins the east right-of-way line of Hill Avenue. 8. Buyers acknowledge that they have inspected the property and are fully aware of the topography, elevatio~ and environmental condition of this parcel and accept it as is. EXHIBIT A 55 HILL AVENUE LEGAL DESCRIPTION That part of the Northeast Quarter of Section 17, Township 2 South, Range 24 West in the City of Fort Walton Beach Commerce and Technology Park, Okaloosa County, Florida, being more particularly described as follows: Commence at the 4 inch by 4 inch concrete monument marking the northeast comer of said Section 17 for the point of reference; thence proceed North 87 degrees 27 minutes 20 seconds West ( Reference Bearing) along the north line of said section a distance of 80. 00 feet to a point on the west line of an 80 foot strip of City property; thence South 02 degrees 37 minutes 00 seconds West along said west line a distance of 649. 90 feet to the Point of Beginning of the land to be described; thence continue South 02 degrees 37 minutes 00 seconds West along said west line a distance of 884.38 feet; thence North 87 degrees 23 minutes 00 seconds West a distance of 806. 13 feet to a point on the east right- of-way of Hill Avenue ( 100' R/W), said right- of-way line being a curve of radius 4708.28 feet concave to the West; thence proceed along said curve a distance of 287.3 7 feet with a chord bearing of North 10 degrees 49 minutes 37 seconds East and chord distance of287. 33 feet; thence South 87 degrees 23 minutes 00 seconds East a distance of 474.30 feet; thence North 02 degrees 37 minutes 00 seconds East a distance of 300. 00 feet; thence North 87 degrees 23 minutes 00 seconds West a distance of 10.26 feet; thence North 02 degrees 37 minutes 00 seconds East a distance of 300.00 feet; thence South 87 degrees 23 minutes 00 seconds East a distance of 301.06 feet to the Point of Beginning. The above described tract containing 9. 19 acres, more or less. RESERVING to the City of Fort Walton Beach, Florida, its successors and assigns, a ten foot easement for the installation, maintenance, repair and servicing of utilities for the benefit of the City of Fort Walton Beach, Florida, along the west property line of the above described property, which adjoins the east right- of-way line of Rill Avenue. SUBJECT TO all existing easements of record.