Fort Walton Beach Resolution — 80-21-Rehab of Butler Terrace Contracts — reading text

of America acting by and through the Secretary of Housing and Urban Development: and WHEREAS, pursuant to such Community Development Block Grant Funding Agreement, the LOCAL PUBLIC AGENCY is undertaking the making of surveys and plans necessary in preparation of certain slum clearance, blights removal and Neighborhood Strategy Area redevelopment, situated in the area described below; and WHEREAS, the LOCAL PUBLIC AGENCY desires to engage the TITLE COMPANY to render certain assistance in connection with the undertakings of the LOCAL PUBLIC AGENCY under the Contract for advance; NOW TH~ REFORE, the parties hereto do mutually agree as follows: I. SCOPE OF SERVICES. The TITLE COMPANY shall perform all the necessary services provided under this Agreement and Con- tract in connection with and respecting the following Project Area: TO WIT: Those lots 2, 3, 4 and parcels within Blocks and 5 of Brooks Addition described as that to Fort Walton Beach area " embracing land in the Southwest quarter of Section 13, Town- 2 South, 24 West; described as beginning at the North- ship Range east corner of NE ~ and running West; 711. 16 feet; thence South 260 feet; thence West 223. 5 feet; thence South 1056. 5 feet to thence East 101 feet; thence East 165 feet; thence forty line; South 192 to South side of First Street; thence Easterly 500 feet more or less to Half Section Line; thence North 2252. 43 feet to of Surveyed during April, 1945 by T. W. Coleman, point beginning." surveyor and recorded on 12, June 1945 in Plot Book One at Paqe 99. II. OF CHARACTER,_ WORK. The work to be performed here- under shall be accomplished in stages as follows: STAGE I TRACT OWNERSHIP DATA of prel~minary Title Binders for Title In- Preparation surance with respect in triplicate parcel to each of land, showing the condition Title thereto as of a date subsequent to the of the date of acceptance of this offer, including therein information as to all Liens and encumbrances thereon and any defects in or ex- ceptions to such Title and will also furnish the names and addresses, so far as known by the TITLE COMPANY through disclosure of records, of all persons or parties owning or claiming, or who may own or claim, an interest in or to such interest and the names and addresses  page 2 Contract & AgreemE of all persons or parties in possession or occupance thereof and the rights which they have or claim. Transcripts provided by the TITLE COMPANY shall include at least thefollowing: 1. Name and address of owner of record 2. Legal description of parcel 3. Information or conveyance to present owner as follows: a. Date of conveyance; b. Book and page of recordation; c. Name of Grantor; d. Stated Consideration; e. Unpaid amount if any of any mortgages or ,encumbrances to which Title was subject in the conveyance and on which Federal documentary stamp t~xes were not re- quired; f. Amount Federal documentary stamps affixed; of g. Amount of any State of local transfer tax based on the consideration paid; 4. City tax assessment 7 5. County tax assessment 6. Leases ( dates, parties, consideration) 7. Any defects in Title or Liens on the parcel in a form satisfactory to the ATTORNEY parcels On to be condemned, furnish the ATTORNEY, to the above transcripts in a form satisfactory to the ATTORNEY. STAGE II CLOSING PURCHASES, ISSUANCE OF TITLE INSURANCE and CONDEMNATION PROCEEDINGS Upon execution of this Contract and receipt of a Notice to Proceed from the LOCAL PUBLIC AGENCY, the TITLE COMPANY shall perform the following work: 1. Attend to all details necessary to procuring of good title and curing defects in title. Prepare the settlement sheets and other documents for closing purchases with each individual property owner; i 2. Within one year from the date of, the original certi- ficates, at the request of the LOCAL PUBLIC AGENCY, make updates examinations of the title with of its respect to each such parcel and furnish written supplemental reports of title in triplicate continu- ing and original Title Binders to later dates. 3. Review each closed, case in which title has been secured to insure that all applicable laws and regu- lations ( Local, State, and Federal) have been com- plied with and provide a written statement thereof, to the ATTORNEY for the LOCAL PUBLIC AGENCY. III. ADDITIONAL PARCELS. If the LOCAL PUBLIC AGENCY de- sires to include additional parcels, the TITLE COMPANY shall, if requested by the LOCAL PUBLIC AGENCY in writing prior to completion of the work specified hereunder, perform the same services as here- in set forth in connection with such additional parcels within the Four- Block area, at the same rate per parcel and otherwise upon the same conditions as herein set forth. Parcels outside the Four- Block area may be added when requested at a rate mutually agreed upon. EXCLUSION OF PARCELS. IV. The LOCAL PUBLIC AGENCY may at time notice in writing to the TITLE COMPANY, exclude any any by from the operation of this CONTRACT, and in such parcel or parcels event, the TITLE only be entitl( j to receive payment COMPANY shall at a rate for all work completed and accepted hereinafter specified prior to addition, equitable adjustment will such exclusion, and in be made for any substantial amount of work of service performed by the TITLE COMPANY to the date bf such exclusion, but not accepted by the LOCAL PUBLIC AGENCY. PERFORMANCE OF WORK. v. The TITLE COMPANY shall perform the services hereinafter described as expeditiously as possible after receipt of written notification of the acceptance of this pro- posal by the LOCAL PUBL! C AGENCY. page 3 CONTRACT & AGREEMENT VI. SERVICES. All services, documents andinformation to be furnished or performed by the TITLE COMPANY shall be furnished or; performed within a reasonable time. It is mutually understood that the time within which performed is of pri- the work is to be mary importance and of the essence to this proposal. The performance of services or the delivery of documents required herein by the TITLE COMPANY shall not relieve the TITLE COMPANY from the obligation to correct any defective work subsequently discovered and all in- complete, inaccurate or defective work shall be remedied promptly by the TITLE COMPANY on demand and without any cost to the LOCAL PUBLIC AGENCY. The TITLE COMPANY will promptly deliver to the LOCAL PUBLIC AGENCY all documents from time to time_as caupleted and report progress or status of each parcel as required. VII. COMPENSATION. The compensation for performing work covering all parcels in the herein described area shall be as follows: STAGE I Preliminary Title Binder for Title Insurance as provided 50. 00 for in stage I