HomeMy WebLinkAbout1982 Greene, LorneI
PURCHASE CONTRACT
AGREEMENT, made this 6th day of October , 1982)
between LORENE D. GREENE, 1924 12th Court, Vero Beach,
Florida, 32960, SELLER, and CITY OF SEBASTIAN, Post
Office Box 127, Sebastian, Florida 32958, PURCHASER.
1. Sale. Seller, in consideration of the deposit
made by purchaser hereunder, and of the covenants and
agreements on the part of purchaser herein contained, agrees
to sell to purchaser, and purchaser agrees to buy, that real
property located in the County of Indian River, State of
Florida, together with the tenements, hereditaments, and
appurtnances belonging or appertaining thereto, and more
specifically described as follows:
Description of Property -- Urban property, including
buildings and fixtures.
All that certain real property described as:
Commence 300 feet South and 15 feet East
of the Northwest corner of Government Lot
6, Section 6, Township 31 South, Range 39
East, run East to F.E.C. Railway right of
way, thence Northwesterly 153 feet, thence
run west to anchor bolt, thence run South
to P.O.B. being a part of the W. A. Martin
Subdivision, in the County of Indian River,
together with the buildings and improvements
thereon, and including all fixtures and articles
of personal property attached or appurtenant to
or:used in connection with the premises, as
particularly described in appraisal of Floyd
Wilkes, dated July 8, 1982.
2. Purchase price. Purchaser agrees to pay to
seller the sum of $50,000.00, together with interest as
herein provided
The sum of $15,000.00 on October 1, 1982, and the
balance of the purchase price, being the sum of $35,000.00,
in two (2) installments as follows:
The sum of $15,000.00, or more, on the first day of
y
October, 1983, and the sum of $20,000.00 on the first day of
October, 1984; until the purchase price and interst are fully
paid, provided that the purchase price and all interest shall
be fully paid on or before September 30, 1985.
The unpaid balance of the purchase price shall bear
interest at the rate of eight
October 1, 1982, until paid.
interest shall, until further
address set forth above.
3. Taxes and assessm
pay all taxes and assessments
levied, assessed, or accruing
Until delivery of the
(8 %) percent per annum from
All payments of principal and
notice, be made at the
ants; insurance. Purchaser shall
on the above - described property
after October 1, 1982.
deed at closing, purchaser agrees
to carry fire and extended casualty insurance on the buildings
now located on the premises for their full value, as well as
liability insurance payable in case of loss to seller. Such
insurance shall be maintained with a qualified and rated
insurance company or companies.
Should purchaser fail to pay any taxes or assessments
as herein provided, or fail to keep the property insured, seller
may, at his option, pay all or any of such taxes and assessments,
and obtain such insurance, and purchaser shall repay to seller,
on demand, the amount of all moneys paid by seller on account
of such taxes, assessments, and /or insurance together with
interest thereon from the date of payment until repaid at the
rate of 8% per annum.
4, Delivery of Deed.. Seller, when the purchase price
- -. - -- __- aid• - a-- l —othet amounts -to be paid to seller, are fully -paid as -
herein provided, and all covenants and agreements on the part
of purchaser to be performed have been satisfactorily performed,
will execute and deliver to purchaser a good and sufficient
warranty deed conveying the property free of all encumbrances
made, done or suffered by seller.
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Seller has procured, or will, within 30 days from
the date hereof, procure from a corporate title insurer qualified
to do business in Florida, an owner's policy of title insurance,
insuring purchaser to the full amount of the purchase price
hereunder against loss or damage by reason of defect in the
title of seller in the above- described premises or by reason of
prior liens not assumed by purchaser under this agreement.
S. Possession. Purchaser shall, on execution of this
contract, have the right to immediate possession of the property.
Purchaser's continuing right of possession shall be subject to
seller's right to re -enter and repossess the property in the
event of default, as provided elsewhere in this contract, during
the life of the contract and until the entire deferred purchase
price and interest thereon has been paid.
6. Prepayment. Purchaser, may, at any time after
October 1, 1982, prepay the contract, at that time without
penalty and without notice. Such prepayment shall not
include unearned interest.
7. Default. If purchaser shall fail for a period of
60 days to (1) pay seller any of the sums herein agreed to be
paid, either as installments on account of principal or as
interest, after such sums are due, or (2) pay taxes or
assessments on the property after the same become due, or
(3) comply with any of the covenants on his part to be kept
and performed, then seller than be released from all
obligation to convey the property, and purchaser shall forfeit
all right thereto, and all payments theretofore made by
purchaser under this agreement shall be considered compensation
for the use and occupancy of the property, and shall be
retained by the seller.
Provided always, that if purchaser shall fail to pay
to seller, her successor, heirs, representatives, or assigns,
all payments required herein and /or shall fail to perform,
comply with, and abide by each and every one of the stipulations,
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agreements, conditions and covenants of this agreement,
and /or shall fail to pay all taxes which may accrue on the
property and all costs and expenses seller, her successors,
or assigns may be put to in collecting in foreclosure of
this agreement or otherwise, including reasonable attorneys'
fees, then, if this be so, this Agreement and the estate
hereby created shall cease and be null and void.
8. Time of essence. Time is of the essence in
this agreement.
9. Binding effect. The terms, conditions, and
covenants of this agreement shall be binding on and shall
inure to the benefit of the heirs, executors, administrators,
and assigns of the respective parties, but no assignment
or transfer by purchaser of this contract, or of his
interest in the property described herein shall be valid,
unless made with the ,written consent of seller.
Executed at , on the
6ul—day of 311982.
Executed in the presence of:
Executed in the presence of:
r,
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L ene D. reeve, Seer
CITY OF SEBA TIAN, Purchaser
By
Ma or -
TTEST -:.._b
– A Cityl !r_. -
STATE OF FLORIDA,
COUNTY OF INDIAN RIVER,
I HEREBY CERTIFY that on this day, before me, an
officer duly authorized in the State aforesaid and in the
county aforesaid to take acknowledgments, personally
appeared LORENE D. GREENE, to me known to be the person
described in and who executed the foregoing instrument and
who acknowledged to me that she executed the same.
WITNESS my hand and official seal in the County and
State last aforesaid, this 13 day of October, 1982.
Notary PulDlic in and fo he State
of Florida at Large
NOTARY PUBLIC STATE OF FLORIDA
MY COMMISSION EXPIRES SEPT. 20, 19$¢
STATE OF FLORIDA,
COUNTY OF INDIAN RIVER,
I HEREBY CERTIFY that on this day, before me, an
officer duly authorized in the State and County aforesaid
to take acknowledgments, personally appeared PAT FLOOD, JR.
and ELIZABETH REID, well known to me to be the Mayor and
City Clerk respectively of the City of Sebastian, and that they
severally acknowledged executing the same in the presence of
two subscribing witnesses freely and voluntarily under
authority duly vested in them by said corporation and
that the seal affixed thereto is the true corporate seal of
the said City.
__4I_1XESS . _ray hand an d of- and -- - - -
State aforesaid this 6th day of October, 1982.
Notary Public in and for the
State of Florida at large
NOTARY PUBLIC STATE OF FLORIDA
MY COMMISSION EXPIRES JUNE 28 1986
BONDED THRU GENERAL INS : UNDERWRITERS