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HomeMy WebLinkAboutPublic Offering StatementFLORIDA PUBLIC OFFERING STATEMENT Filed .by GENERAL DEVELOPMENT CORPORATION 1111 South Bayshore Drive Miami, Florida 3331 for Sebastian Highlands Units 1 through 6, 8, & 10 through 13 Indian River County, Florida Effective Date: March 15, 1969 SELLER MAY RETAIN TITLE AND POSSESSION OF PROPERTY UNTIL ALL PROMISED IMPROVEMENTS HAVE BEEN COMPLETED AND WARRANTY DEED DELIVERED. "TRIS PUBLIC OFFERING STATEMENT IS FOR INFORMATIONAL PURPOSES ONLY. THE FLORIDA LAND SALES BOARD HAS NEITHER APPROVED NOR DISAPPROVED THE MERITS OF THIS OFFERING. THE SUBDIVIDER IS RESPONSIBLE FOR THE ACCURACY AND COMPLETENESS OF THIS STATEMENT." STATE PROPERTY REPORT DISCLAIMER NOTICE AND DISCLAIMER BY OFFICE OF INTERSTATE LAND SALES REGISTRATION, U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT This report is not a recommendation or endorsement of the offerings herein by the Office of Inter- state Land Sales Registration, nor has that Office made an inspection of the property nor passed upon the accuracy or adequacy of this report or of any promotional or advertising materials used by the seller. Information contained herein has been filed with the State of Florida and the Office of Interstate Land Sales Registration. It is in the interest of the buyer to inspect the lot and to read all contract documents before signing the contract to purchase or lease. Prospective buyers and lessees are notified that unless they have received this property report prior to, or at the same time they enter into a contract, they may void the contract by notice to the seller. Unless a buyer or lessee acknowledges in writing that he has read the report and personally in- spected the lot prior to signing his contract, he may revoke his contract within 48 hours from signing his contract if he has received the property report less than 48 hours prior to signing such contract. Although a statement of record has been filed with the Office of Interstate Land Sales Registration, the filing has not been examined or verified. SA -3167 -SM -0-5/5/69 PART I Property: Sebastian Highlands is an incorporated community within the city limits of the City of Sebastian with a resident population of 310. It is located on U.S. Highway #1, 16 miles north of Vero Beach and 26 miles south of Melbourne, Florida. At the present time, there are approximately 400 homesites available for sale at Sebastian Highlands by General Development Corporation ( "the Company") . Approximately 8900 homesites have already been sold and about 4400 homesites are proposed to be platted. The homesites being offered by this Offering Statement are a minimum of 10,000 square feet. The typical size of a homesite is 80 feet by 125 feet. Encumbrances: The property being offered in this Offering Statement is unencumbered. The property is subject to: (1) easements which are reserved for public utility purposes, drainage ditches and canals, and public streets and roads; (2) zoning ordinances and other governmental regula- tions and (3) restrictive covenants placed thereon by the Company. The restrictive covenants referred to above establish minimum building setback and square footage requirements and set other standards usual and customary to the preservation and maintenance of the residential character of a subdivision. Access: Access will be over hard -surfaced, all-weather streets along rights -of -ways dedicated to the public. Land Use: Successive plats have been recorded in the Public Records of Indian River County, Florida, from November 12, 1957, to December 18, 1967. The land has been platted into primarily residential lots. The soils are sandy and support a growth of pine, oak, palm, and palmetto. The topography of the property is generally flat, sloping approximately three feet per mile. The elevation of the land averages 20 feet above mean sea level. During wet weather the property does require drainage and provision for drainage has been made by the Company. Nominal fill may be required (tc be furnished by the purchaser), depending upon the particular site and type of construction employed. The undeveloped portions of the property are presently zoned for agriculture. PART II Area Facilities: 1. Fire Protection — A volunteer fire department presently serves Sebastian Highlands. 2. Police Protection — City of Sebastian Police Department provides police protection. 3. Churches — Churches of the following denominations are located within the City of Sebastian within four miles of the entrance to the community: Catholic, Methodist, First Baptist, Roseland Gar- den Community Church, and a Church of God. All denominations are located within 16 miles of the entrance to the community at Vero Beach. 4. Shopping — Limited shopping facilities are available in the City of Sebastian within 11/2 miles of the entrance to the community. Regional shopping is available at Vero Beach, 16 miles south of the entrance, and at Melbourne, 26 miles north of the entrance. 5. Schools — Sebastian Elementary — 4 miles north in the City of Sebastian. Vero Beach Junior High School — 16 miles south in Vero Beach. Vero Beach High School — 16 miles south in Vero Beach. Indian River Junior College — 32 miles south in Fort Pierce. 6. Hospitals — Indian River Memorial Hospital located in Vero Beach is 16 miles south of the entrance to the Community. 7. Recreation — Yacht Club and Marina, lakes, park, playground, recreation area, shuffleboard courts — all completed and in the Community. Camping grounds and a public beach on the ocean are 10 miles from the entrance. (Note: All distances to area facilities are measured in road miles from the entrance to the Community on U.S. Highway #1, 15 miles north of Vero Beach and 26 miles south of Melbourne, Florida. The farthest homesite being offered is 4 miles from the entrance to the Community.) Improvements: Roads — Over 27 miles of paved roads have been completed. All roads meet or exceed City specifica- tions. (See Development Schedule.) Water — Homesites are suitable for the installation of individual water wells. The cost of an individual well at the present time is approximately $300.00. Sewer — Homesites are suitable for the installation of septic tanks. The cost of installation to the pur- chaser of a septic tank and drain field at the present time is approximately $400.00. Drainage — Drainage, meeting current City of Sebastian requirements, will be provided by the Company along drainage rights -of -ways which it has dedicated to the public. Individual Surveys — All property covered by this Offering Statement is Platted of Record. Individual surveys are the responsibility of the purchaser and the present cost ranges from $25.00 to $50.00. Street Markers — Street markers will be provided by the Company at the time of road completion. PART 111 Public Utiffties: Electricity — Florida Power & Light Company. $20.00 deposit. Service charges are regulated by the Florida Public Service Commission. Telephone — Southern Bell Telephone & Telegraph Company. $20.00 connection charge. Service charges are regulated by the Florida Public Service Commission. Gas (Bottled) — General Development Utilities, Inc. $15.00 deposit. Liquid Petroleum Gas is $3.30 per month minimum for 300 cubic feet of gas. Public Transportation: Bus — The Greyhound Bus Lines station is located on U.S. Hwy. # 1, six miles from the entrance to the subdivision. There are several southbound busses daily with destinations of West Palm Beach and Miami with intermediate stops. There are also several scheduled northbound busses each day which connect at Jacksonville for points throughout the Country. Airports — Melbourne Airport, 26 miles north, has facilities for jet aircraft and is serviced with sched- duled daily flights by Eastern and National Airlines. Vero Beach Airport, 16 miles south, is serviced by Eastern Airlines with several scheduled daily flights. Private airport at Sebastian, 10 miles from entrance. Present Development and Occupancy: At Sebastian Highlands there are 147 homes and the population at the present time is approx- imately 310. Government Control: Sebastian Highlands lies within the City of Sebastian, an incorporated city in Indian River County, Florida. The City government is administered by a Mayor and Councilmen. The Council is responsible for the regulation of building construction, zoning, and local tax assessment. Sebastian Highlands is sub- ject to City of Sebastian and Indian River County taxes. PART IV Method of Sale: Type of Agreement — Agreement for Deed. Possession — Possession and use of the property may be retained by the Company until the purchase price is paid in full and the Warranty Deed delivered. Interest Rate — 6'/z % simple interest per year on the unpaid balance. Prepayment — Prepayments may be made by the purchaser, without penalty, subject to the consent of the Company and the condition that there will be no acceleration of the Company's obligations to complete the improvements or deliver Title and Possession. Transfer or Exchange Privilege — The Company guarantees you the privilege of transferring your equity in the property, provided such equity transfer occurs before the outstanding balance has been paid in full and all payments are current at the time of transfer, toward either: (1) The purchase of avail- able property of equal or higher price in this or any other Company community within three years of the date of the agreement; or (2) The purchase of a standard home built by the Company in an available housing area. Equities in more than one lot may be transferred only to a like number of other lots or homes. There is no refund privilege. Type of Sales Program: Sales are conducted both at the Company's sales office located in the Community and by the Com- pany's branch sales offices and franchised agents located in principal cities throughout the eastern two- thirds of the United States, in Canada, and in certain foreign countries, and by telephone solicitation from the Company's Miami Headquarters. PART V Additional Information: Sebastian Highlands has been under development since 1957. Since that time, 147 homes have been built. Nearby Sebastian and Indian Rivers are natural waterways. Sebastian Inlet gives direct access to the Atlantic Ocean and launching ramps are provided at the Yacht Club. Development Schedule: Hard surfaced streets will be completed according to the following schedule: Completed — Unit 1. 1970 — Units 5, 6, 8, and 10. 1969 — Units 2 and 3 and 12. 1971 — Units 11 and 13. 1972 — Unit 4. NOTICE TO PURCHASERS THE PURCHASER SHOULD ASCERTAIN FOR HIMSELF THAT THE PROPERTY OFFERED MEETS HIS PERSONAL REQUIREMENTS AND EXPECTATIONS. MISUNDERSTANDINGS AS TO THE DESIRABILITY OF THE PROPERTY MAY ARISE WHEN THE PURCHASER FAILS TO UNDERSTAND THE NATURE OF THE PROPERTY OFFERED OR THE TERMS OF THE CONTRACT. BE SURE AND READ YOUR CONTRACT BEFORE YOU SIGN THE SUBDIVIDER IS REQUIRED TO GIVE YOU AN OPPORTUNITY TO READ THIS OFFERING STATEMENT BEFORE YOU ENTER INTO A PURCHASE AGREEMENT. DO NOT SIGN UNLESS YOU HAVE READ THE OFFERING STATEMENT Receipt of Florida Offering Statement Sebastian Highlands Units 1-6, 8, and 10-13 I HAVE READ THE FLORIDA OFFERING STATEMENT. THE DATE OF THE COPY OF SAID REPORT WHICH I RECEIVED AND READ IS MARCH 15, 1969. NAME OF SALESMAN NAME ADDRESS DATE THE SUBDIVIDER IS REQUIRED TO RETAIN THIS RECEIPT FOR THREE (3) YEARS OR TERM OF CONTRACT WHICHEVER IS LONGER.