HomeMy WebLinkAbout1985 Transmittal of Agreement for DeedGREGORY J. GORE
ATTORNEY AT LAW
P. O. BOX 384
1507 U.S. 1, SUITE 2
SEBASTIAN, FLORIDA 32958
305 - 589 -0055
GEORGE H. GORE
OF COUNSEL
September 10, 1985
Honorable Jim Gallagher, Mayor
City of Sebastian
P.O. Box 127
Sebastian, Florida 32958
Dear Mayor Gallagher,
Enclosed please find proposed Agreement for Deed with regard to
the Richard Fey Bait and Tackle Beverage Shop. I have requested
to be placed on the agenda for the City Council meeting of
September 18, 1985. I am transmitting a copy to Tom Palmer, City
Attorney, for his review. I expect that the appraisal of the
property by Earl Witherby will be finalized by Friday of this
week. I await your comments.
Thank you.
Very truly yours,
D
n TGrel Gregory J
GJG /sc
Enc.
CC: Tom Palmer, City Attorney
IL
AGREEMENT FOR DEED
ARTICLES OF AGREMEENT, made the day and year below last
written between CITY OF SEBASTIAN, a Florida municipal
corporation, whose mailing address is P.O. Box 127, Sebastian,
Florida 32958, ( the "Seller ") and RICHARD FEY, whose mailing
address is 1302 Indian River Drive, Sebastian, Florida 32958 (the
"Buyer ");
W I T N E S S E T H
THAT IF the buyer shall first make the payments and
perform the covenants hereinafter mentioned on his part to be
made and performed, the Seller hereby covenants and agrees to
convey to the Buyer, by statutory warranty deed, that piece of
parcel of land situate in the County of Indian River, State of
Florida, and known and described as follows:
The north 35 feet of Lot
as shown in Plat Book 4,
St. Lucie County, said
River County.
Buyer covenants and
in the followi
2, Block 3, Hardee's Subdivision
Page 74, of the Public Records of
land lying and situate in Indian
agrees to pay to Seller the sum of
ng manner:
A. Buyer to pay the sum of $1,000.00 in twelve equal
consecutive monthly payments bearing interest at 10
per annum with initial payment beginning date hereof.
Buyer to receive a $500.00 credit towards the purchase
price. City of Sebastian to retain $500.00 in
consideration of execution of this Agreement.
B. Buyer to pay the sum of $500.00 twelve months from date
hereof. Buyer to receive $250.00 credit towards the
purchase price.
C. Buyer to pay remaining balance due hereunder to City of
Sebastian within two years from date hereof. Buyer
shall have the right to prepay sixty days after giving
written notice of intent to pay in full the above
referenced purchase price.
The Buyer and Seller further covenant and agree that
the following additional terms and conditions shall govern this
agreement:
1. Conveyance shall be by a statutory or general form
warranty deed. Documentary stamps to be afixed to the instrument
of conveyance shall be paid for by Seller. All additional closing
costs, excluding Seller's attorney's fees, if any, and
administrative expenses, shall be paid by Buyer. Buyer to pay
for title insurance premium should title insurance be requested
by Buyer.
2. Title shall be conveyed free and clear of all
liens and encumbrances, save and except applicable zoning
ordinances, governmental regulations, real estate taxes during
year of delivery of statutory warranty deed, and encumbrances
placed against the property by the Buyer through no fault of the
Seller.
3. Seller agrees to pay all taxes, assessments or
impositions that may be legally levied or imposed upon said land
for and during the year 1985 and thereafter until such time as
delivery of deed to Buyer.
4. Risk of loss by fire, windstorm, flooding or other
casualty is upon the Buyer. Buyer agrees to keep any structures
upon the land insured in some company satisfactory to the Seller
for a sum not less than full insurable value. In the event of a
loss, insurance proceeds shall be payable first to the Seller, in
satisfaction of the Buyer's obligations hereunder.
5. Taxes for the year of delivery of deed shall be
pro- rated. Taxes for subsequent years shall be paid by Buyer.
6. This agreement is contingent upon Buyer receiving
approval from Seller to establish a retail discount bait,
beverage and tackle shop to be located upon the following legally
described property adjacent to the above referenced property:
The south 30 feet of the north 65 feet of Lot 2, Block 3,
Hardee's Subdivision, Plat Book 4, Page 74, of the Public
Records of St. Lucie County, said land now situate and lying
in Indian River County.
it is understood between the parties hereto that Buyer
Sys Fu ��,
ilize the above referenced propertyt"or' the placement of a
porous or non - porous parking area to be utilized by employees of
Buyer. In the event Buyer fails to receive the above referenced
permission all sums paid hereunder shall be returned to the Buyer
and the parties hereto shall be relieved of any further liability
or obligations hereunder.
7. In the event that the Buyer fails to make either
of the payments provided for herein, or any part thereof, or to
perform any of the covenants on their part hereby made and
entered into, this agreement shall, at the option of Seller, be
forfeited and terminated and the Buyer shall forfeit all payments
made by him on this agreement; and such payments shall be
retained by the Seller in full satisfaction and liquidation of
all damages sustained by it. Seller shall have the right to re-
enter and take possession of the premises aforesaid without being
liable in any action therefor. Buyer shall also have all
equitable remedies provided for by law.
8. Seller hereby grant to Buyer a thirty day grace
period for payment of sums due hereunder prior to declaring
default by Seller.
9. All covenants and agreements herein contained shall
extend to and be obligatory upon the heirs, successors and
personal representatives of the respective parties except as
provided otherwise herein.
10. Buyer will not permit, commit or suffer waste and
will maintain the lands and improvements at all times in a state
of good repair and condition, and will not do or permit to be
done anything to the lands and improvements that will in any way
impair or weaken the security of the Seller's retained title. In
case of the refusal, neglect or inability of the buyer to repair
and maintain said property, the Seller may, at its option, make
such repairs or cause the same to be made, and advance money in
that behalf, which sums advanced or costs of repairs shall be the
obligation of Buyer and the payment thereof shall be secured by
this agreement. Seller shall have no affirmative obligations,
however, to care for and maintain the said property or having
undertaken some measures therefor, to continue the same or to
take other measures.
U
ti
11. If Buyer sells or transfers the above described
lands, Seller may declare all indebtedness secured hereby to be
accelerated and immediately due and payable, unless Seller
consent in writing to the sale or transfer, and unless the
transferee and /or Grantee assumes the indebtedness created hereby
in a form satisfactory to Seller.
12. No delay by Seller in exercising any option, right
or remedy hereunder, or otherwise afforded by law, shall waive or
preclude the exercise thereof during the continuance of any
breach or default hereunder. No waiver by Seller of any
provision, breach or default shall be a waiver of any other
provision or a consent to any subsequent breach or default.
13. In the event of default by the Seller of any of
the terms and /or conditions contained herein, Buyer shall be
entitled to seek specific performance together with other
remedies, both legal and equitable.
14. In the event of litigation involving the terms and
conditions of this agreement for deed, the prevailing party shall
be entitled to a reasonable attorney's fee and costs.
15. Any payments made by Buyer shall be applied
against the remaining balance due hereunder with payments being
applied first to accrued interest to date of payment and the
balance in reducing the principal indebtedness.
16. This agreement for deed shall be fully executed in
duplicate, either copy of which shall be deemed to be the
original.
17. Seller agrees not to further encumber the property
without prior written consent of Buyer.
IN WITNESS WHEREOF, the parties hereto have set their
hands and seals on the day and year below last written.
Signed, sealed and delivered
in the presence of: DATED:
As To Seller
As to Buyer
CITY OF SEBASTIAN
BY: Jim Gallagher, Mayor
Attest:
City Clerk
RICHARD FEY