Fort Walton Beach Council agenda — 10-09-12 regular-with petitions — reading text

PURCHASE OF REAL PROPERTY INTEREST m° 0 OKALOOSA COUNTY —CITY OF FORT WALTON BEACH 3T0 0 THIS AGREEMENT is made and entered into this 10th day of May 2012, by and between Hollywood Property, LLC (hereinafter called " Seller') City of Fort Walton Beach, Florida (hereinafter called' Buyer"). xOm WITNESSETH For and in consideration of the mutual covenants, and conditions herein contained, Seller hereby agrees to sell and convey A and Buyer hereby agrees to purchase and accept the following real property interest upon the terms and conditions contained in this u Agreement: EaN 1) In order to construct the above referenced project ( hereinafter called the " Project ") it is necessary that Buyer acquire w Breen Seller the following real property or Seller' s interest therein (hereinafter called the " Property1 as described and depicted in Composite Exhibit " A" attached hereto. 2) The amounts paid by Buyer to Seller pursuant to this Agreement represent any and all compensation to which the 0 Seller is entitled for the Buyer' s acquisition of the Property and construction of the Project cN DESCRIPTION a. Real estate or interest therein as described and depicted on Composite Exhibit " A" attached hereto. Estate being purchased: Fee Simple Permanent Easement Temporary Construction Easement 1I. PURCHASE PRICE' A. Real Property Land 0. 00 Improvements 0. 00 Real Estate Damages Severance/ Cost- to- Cure) 0. 00 b. EasementsPermanent Easement 2, 200. 00 Temporary Construction Easement 160. 00 c. Total Real Property 0. 00 d. Incentive 0. 00 e. Total Offer Amount S 2, 360. 00 LIL FEES & COSTS' a. Attorney fees and costs'" 0. 00 b. Expert costs, if any, will be paid pursuant to F. S. 73. 091 et closing. . Page 1 of 3 Packet Pg['130  143 It 3) Sella shall provide to Buyer good and marketable title for the Property, free and aleer of liens or encumbrances, which materially affect the value ofthe Property. If material liens or encumbrances shall be found, Seller shall have a reasonable time ma in which to cure said defects. Seller shall be liable for any encumbrances not disclosed in the public records or arising after closing as 0 a result of acdon of the Seller. Buyer retains the right, at its sole discretion, m waive any ofthe requirements imposed on Seller under m this paragraph at closing. a0 Conveyance ofthe Property from Seller to Buyer shall be by conveyance instmment( s) acceptable to Buyer. 3T Buyer shall pay closing costs including title insurance charges, documentary stamps, and recording fees. 6) At closing, Seller shall only be responsible for taxes, payment of any judgments, liens, mortgages, deeds of trust or 02m other such encumbrances against the Property, and any commissions due W realtors or real estate brokers. m G 7) Sella shall maintain the property described in Composite Exhibit A of this agreement until the day of closing. The property shall he maintained in the same condition existing on the date of this agreement, except for reasonable wear and tear. E N 8) Seller and Buyer agree that areal estate closing pumuant to the tams of this agreement shall be contingent on D delivery by Sella of an executed Public Disclosure affidavit in accordance with Section 286.23, Florida Statutes. 9) Seller and Buyer agree that this agreement represents the full and final agreement for the herein described sale and o purchase and no other agreements or representations, unless incorporated into this agreement, shall be binding on the patties. cN 10) Time is of the essence in this Agreement. f7 11) This Agreement shall be binding upon the parties hereto, their heirs, successors and assigns, subject only to Okaloosa County' s and City of Fort Walton Beach' s approval process. cem 12) Any typewritten or handwritten provisions inserted into or attached to this agreement as addenda most be initialed by both Seller and Buyer. ltightoEway agents for Buyer do not have any authority to negotiate or accept any addenda, modifications, or counteroffers to this agreement. Any and all addends, modifications, or c, untemffm m this agreement must be reviewed and approved by Buyer' s righto5way manager prior to acceptance by Buyer . t j There is an addendum to this agreement. Page _ is made part of this agreement azFZu XI There is not an addendum to this agreement. aV00n 3 T IN WITNESS WHEREOF, Seller and Buyer hereby acknowledge that their signatures as Seller and Buyer below constitute 2Om their acceptance of this agreement. SELLER( S): EvCad NN 2 ollywood Profierty, LLC FL c t+ y of Fb. wo' k- on' 43e", a FEID or Social Security No.: N As 0d C Page 2 of z0EE i Packet Pg. 737  14.3. Is 3) Seller shall provide to Buyer good and marketable title for the Property, free and clew of liens or encumbrances, which materially affect the value of the Property. If material liens or encumbrances shall be found, Seller shall have a reasonable time in which to cure said defects. Seller shall be liable for any encumbrances not disclosed in the public records or arising after closing as result of action of the Seller. Buyer routine the right, at its sole discretion, to waive any ofthe requirements imposed on Seller under this paragraph at closing. Conveyance ofthe Property from Seller to Buyer shall be by conveyance fastrument( s) acceptable to Buyer. Buyer shall pay closing costs including title insurance charges, documentary stamps, and recording fees. 6) At closing, Seller shall only be responsible for taxes, payment of any judgments, liens, mortgages, deeds of trust or other such encumbrances against the Property, and any commissions due to realtors or real estate brokers. Seller shall maintain the property described in Composite Exhibit A of this agreement until the day of closing.