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HomeMy WebLinkAbout12132006 CRA Agenda~~ ~t~+ HOME OF PELICAN ISLAND COMMUNITY REDEVELOPMENT AGENCY (CRA) (CITY COUNCIL) AGENDA WEDNESDAY, DECEMBER 13, 2006 - 6:00 P.M. CITY COUNCIL CHAMBERS 1225 MAIN STREET, SEBASTIAN, FLORIDA CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. APPROVAL OF MINUTES 1-6 A. September 20, 2006 Meeting 7-8 B. September 27, 2006 Meeting 5. NEW BUSINESS A. Flagpole Project 9-17 B. Consider Purchase of Boudrot Property -1302 Indian River Drive (City Manager Transmittal, Map, Contract) 6. ADJOURN HEARING ASSISTANCE HEADPHONES ARE AVAILABLE IN THE COUNCIL CHAMBERS FOR ALL GOVERNMENT MEETINGS. ANY PERSON WHO DECIDES TO APPEAL ANY DECISION MADE WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE HEARD. (286.0105 F.S.) IN COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT (ADA), ANYONE WHO NEEDS A SPECIAL ACCOMMODATION FOR THIS MEETING SHOULD CONTACT THE CITY'S ADA COORDINATOR AT 589-5330 AT LEAST 48 HOURS IN ADVANCE OF THIS MEETING. CITY OF HOME OF PELICAN ISLAND COMMUNITY REDEVELOPMENT AGENCY (CRA) (CITY COUNCIL) MINUTES WEDNESDAY, SEPTEMBER 20, 2006 - 5:00 P.M. CITY COUNCIL CHAMBERS 1225 MAIN STREET, SEBASTIAN, FLORIDA Mayor Burkeen called the CRA Meeting to order at 5:00 p.m. 2. The Pledge of Allegiance was recited. On MOTION by Mr. Neglia and SECOND by Mr. Paternoster, Mr. McCollum's request to participate by telephone was approved on a voice vote of 4-0, and he was included in the meeting. 3. ROLL CALL Members Present: Mayor Brian Burkeen Council Member Andrea Coy Council Member Nathan McCollum (participating by telephone) Council Member Sal Neglia Council Member AI Paternoster Staff Present: City Manager, AI Minner City Attorney, Rich Stringer City Clerk, Sally Maio Finance Director, Shai Francis Growth Management Director, Rebecca Grohall Deputy City Clerk, Jeanette Williams 4. APPROVAL OF MINUTES A. June 28, 2006 On MOTION by Mr. Coy, and SECOND by Mr. Neglia the June 28, 2006 CRA Minutes were approved on a voice vote of 5-0. C! CRA Meeting Minutes September 20, 2006 Page Two B. September 7. 2006 On MOTION by Mr. Neglia, and SECOND by Ms. Coy, the September 7, 2006 CRA Minutes were approved on a voice vote of 5-0. 5. NEW BUSINESS A. Review Indian River Drive/Main Street Proposal Design Standards The City Manager reported on the design standards requested and displayed a revised conceptual drawing. (see drawing exhibited) He explained if the concept is favored, the first step would be to enter into negotiation on Ms. Boudrot's property and the budget would be dictated depending on where the numbers fall. In response to Mr. Neglia, the City Manager said the purchase of the Boudrot house would open up the Main Street/Indian River Drive area for use by the public and would be more aesthetically pleasing, safer for traffic and really work. He said with Council's direction, he would begin the process of negotiation for purchase of the property and then the design phase with public input, followed by construction. He said if this concept is not favored, the previous drawings could be reconsidered and other projects could be identified. He noted Ms. Boudrot did not come to the City and they went to her. The City Attorney pointed out a legal issue, whereby the road would have to shift westward to accommodate safety and parking issues, and then the City would be obligated to provide access to Ms. Boudrot for her property. The City Manager stated staff really favors the acquisition of the parcel. Mr. Neglia said Council looked at plans earlier on that worked without the Boudrot property. He said Ms. Boudrot said she just heard about this Sept. 7 and then later from Ms. Grohall; she recently requested two variances for the building; and it might have historical value. Mr. Neglia said he thought Mr. Jones would be here and said he read today in the newspaper that the property was assessed at $70,000. The City Manager said the whole project would be $1 million plus the value of her property. Mayor Burkeen said he thought they had given the City Manager consensus to proceed with an appraisal at the last meeting. He said he had doubts about the question of having to provide access, would agree to the purchase if the price was fair and it is a wonderful concept. Mr. McCollum said it is a good piece of property but would like a ballpark price on the property. Ms. Coy clarified that there are liability issues with large boats IaWnching, and if the City swings Indian River Drive west, ishe City will lose parking and green space. The City Manager said the property purchase would be money well spent to get the feasible and workable concept. --~ 1` 2 CRA Meeting Minutes September 20, 2006 Page Three Ms. Coy asked if the City reached a price with Ms. Boudrot, does the City have to obligate the funds this year. The City Attorney said the funds would have to be obligated on a capital project to be performed within three years. Ms. Coy asked Ms. Boudrot if she was interested in this option and she answered yes. The City Manager said it is best to not publicly talk about the price, but to first go through the process and obtain the appraisal. Mr. Neglia asked the City Manager if Ms. Boudrot has given him numbers and the City Manager responded that they have talked numbers however, it is critical to do the appraisals. Ms. Boudrot said runnin~q into Ms. Grohall in the parking lot is the first time that she had follow-up on the Sept. 7 discussion. The City Manager said back in September and October, the thought that this might be a good idea came up, so staff internally started probing the idea before he talked to Council members about the concept. Council members individually favored the idea so he asked Ms. Grohall to approach Ms. Boudrot who said she may be interested. He said Ms. Boudrot is still working toward her original goal and would consider our proposal if there was a fair market value. Ms. Boudrot said she had a 1988 appraisal done, and really has no idea what the current value is. Ms. Coy asked her if she intended to stay in the area, noting that the City owns property that could exchanged. Ms. Boudrot said she would like to see what she wants to do there, and emphasized the generosity of the Council to allow her to do that, but in her heart she would like to see something go to the people of Sebastian so this would be a generous act on her part and she would be willing to move on. In response to Mr. Paternoster, Ms. Boudrot said someone approached her about putting in a coffee shop but it did not pan out. She said they did come up with a price but she would not talk about that right now, and she does have a bottom line figure and will not take less. Mr. Paternoster said he was concerned with the historic value that was discussed during the facade grant and variances. Ms. Boudrot said it is a great old building, it has been condemned, but it is not listed as an historical building. She said she would like to see the building renovated and not be a parking lot, her plans should be ready soon, and has directed the contractor to proceed to file permits, noting she has obligations to her insurance company as well. Mr. Paternoster said he would have appreciated a copy of the conceptual plan, and asked where the parking for the old chamber building will be located. The City Manager said when the City gets more into this and redefine the area, we would like to keep as much ~~~ ,~ 3 CRA Meeting Minutes September 20, 2006 Page Four green space as possible. The City Attorney said the parking spaces on the north side would satisfy our parking obligations. The City Manager said the purpose of the concept is to show what we can work off of and he is not asking Council to approve this plan. Mr. Paternoster said if there was a design with a median would the speed limit be lowered and the City Manager said he thought it would. Lisanne Monier, Riverfront District, said the Boudrot property comes with a dock and water rights and questioned whether this would give the City more rights that needs to be looked at. Donna Keyes, Sebastian resident and owner of property in CRA District, requested that Council consider purchasing Ms. Boudrot's property. Eugene Wolff, Wimbrow Drive stated before Council spends hundreds of thousands of dollars, two appraisals should be sought. Damien Gilliams, 1623 US 1, Sebastian, urged Council to get the appraisals done and then decide what we want to do there, so he felt that this was a waste of time. Mr. McCollum said getting the appraisals shouldn't slow anything down, and they could be available before any negotiations start. The City Attorney said two appraisals will be required if it wants to keep the price out of the public records. Mr. Paternoster requested the information from what the Department of Environmental Protection (DEP) would allow on the property and what Ms. Monier talked about, and Mr. Neglia agreed with his request. The City Manager said he felt that before he spent any money on appraisals, he wanted to see how the concept would work. He said DEP and St. Johns River Water Management District will need to be contacted before the City can purchase. Ms. Coy said this is simple because the only expense the City is incurring are the appraisals, the conceptual plan is only a concept and if the idea is favored, the money has to be obligated. On MOTION by Ms. Coy and SECOND by Mr. Paternoster, the City Manager was directed to get two formal appraisals of Boudrot property on a roll call vote of 5-0. Mr. Paternoster asked if the price and the project is not favored, does Council want to go back to the original concept and the City Manager said they would. The City Manager said it will be two to four weeks to get the appraisals, then he would get with regulatory agencies, and he will provide the appraisals, the comments from the regulatory agencies and current conceptual plans for Council. The City Attorney stated DEP recognizes commercial and residential docks differently. _. ~ /~ `i 1~ 4 CRA Meeting Minutes September 20, 2006 Page Five Damien Gilliams said the motion should have said certified MAI, residential appraisal. Ms. Coy said she will let her motion stand and will trust the City Attorney's judgment as to type of appraisal. The City Attorney said it would be appraised at highest and best use. B. Provisional FY 2007 Community Redevelopment Budaet -Set Final Adoption for September 27, 2006 Ms. Coy asked on the Riverfront Redevelopment what is unobligated. The City Manager stated $821,242. He went on to recap the numbers and said he would try to get more info on gateway project before the 27th meeting. Ms. Coy asked if we need to make the Main Street/Indian River Drive a line item. The City Manager explained that if the Agency liked the numbers, it would come back for formal adoption on the 27th Mr. Paternoster asked where the lighting in the park was and the City Manager said it is called corridor street landscaping. Mr. Neglia asked about the facade improvement program was for just one applicant winner and the City Manager said it would be broken up as it was this year. He also asked about the Billero project and the City Manager stated there is potential for those monies to be transferred to another project. Mr. McCollum had no questions. The Mayor had no questions either. Lisanne Monier, pointed out that the Billero project is in limbo, the CRA could put in $90,000 worth of palm trees up and down the Riverfront District which would make a dramatic difference. She said last year the budget included art show funds, and she wanted Council to know she will work on the art show again if they would reconsider an advertising budget fora 2008 show. She said she believes it is a wonderful event for the City because it brings people in who spend money. She said she loses about $6,000 of her own profit to work on the art show. In response to Mr. Neglia, she said about $3600 was allocated for advertising in the past. Mr. Neglia asked if this would have been in special events expense. Donna Keyes, said before beautifying the district, codes must be enforced and she had provided photos to Council of properties in disrepair and sample properties well-cared for. Damien Gilliams said Council wanted a market value, as-is appraisal done. ~~= '. CRA Meeting Minutes September 20, 2006 Page Six On a MOTION by Mr. McCollum with a SECOND by Ms. Coy, it was the consensus of Council to proceed and come back to the 27th meeting for formal adoption. 6. Being no further business, Mayor Burkeen adjourned the CRA Meeting at 6:15 p.m. Approved at the September 27, 2006 CRA meeting. Brian Burkeen, Mayor ATTEST: Sally A. Maio, MMC -City Clerk ~,~..._- ,~" t .~-'` 6 arv ~ ~~'r~'~, HOME OF PELICAN ISLAND COMMUNITY REDEVELOPMENT AGENCY (CRA) (CITY COUNCIL) MINUTES WEDNESDAY, SEPTEMBER 27, 2006 - 6:00 P.M. CITY COUNCIL CHAMBERS 1225 MAIN STREET, SEBASTIAN, FLORIDA Mayor Burkeen called the Community Redevelopment Agency Meeting to order at 6:00 p. m. 2. The Pledge of Allegiance was recited. 3. ROLL CALL Members Present: Mayor Brian Burkeen Council Member Andrea Coy Council Member Nathan McCollum Council Member Sal Neglia Council Member AI Paternoster Staff Present: City Manager, AI Minner City Attorney, Rich Stringer City Clerk, Sally Maio 4. APPROVAL OF MINUTES -None to approve at this meeting. 5. NEW BUSINESS A. CRA Resolution No. 06-01 -Adopting 2006/2007 CRA Budget (Finance Director Transmittal 9/21 /06. Resolution 06-01) A RESOLUTION OF THE CITY OF SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY (CRA) ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2006 AND ENDING SEPTEMBER 30, 2007; MAKING FINDINGS; AUTHORIZING AMENDMENTS; PROVIDING AN EFFECTIVE DATE. Mr. Paternoster requested addition of funds for boat and debris removal from the river, and Mr. McCollum said there is an agency which provided funding for this and the City Clerk said it might have been FIND. Damien Gilliams said it was FIND and further recommended that Council direct the City Manager to contact State Representatives Mayfield and Poppell for assistance to acquire such funding. ..~-•~~. i Community Redevelopment Agency Meeting September 27, 2006 Page Two Ms. Coy asked if there was any way funds can be set aside for miscellaneous items such as this. The City Manager said Council could probably take a little bit off the Indian River Drive/Main Street Project. Mr. Neglia said if the City were to this, could the City be reimbursed for the boats that are removed. The City Attorney said at the end of the year, if you haven't spent the money you have to give the money back or allocate it to a similar project, for example, the gateway project could changed but the project still has to be a part of the Sebastian Boulevard. On MOTION by Ms. Coy and SECOND by Mr. Paternoster, $20,000 from the Indian River Drive/Main Street Project was moved to unappropriated reserves on a roll call vote of 5-0. Mr. Paternoster requested revisiting the Fine Arts Festival contract and adding funds back into the CRA budget in the amount of $3600 for advertising. Ms. Coy said she would support looking into this and adding the funding back in. Mayor Burkeen asked if this was a CRA budget item and the City Manager thought it was. Mayor Burkeen said he supported using CRA funds for the expense. The City attorney said it would be legitimate as a CRA expense because the festivals initiated a community feeling, drawing citizens together for an event. Mr. Neglia suggested putting aside $4,000 for Art festival and $16,000 for debris removal. Mr. McCollum said he would agree if it were CRA funded. On a MOTION by Ms. Coy with a SECOND by Mr. Paternoster, the Board approved moving $20,000 from the Indian River Drive/Main Street line to the unappropriated line in the CRA budget. On MOTION by Mr. McCollum, and SECOND by Mr. Neglia, CRA Resolution No. 06-01 was adopted as amended on a roll call vote of 5-0. Ms. Coy expressed interest in using the gateway monies for tree planting along the Sebastian Blvd. corridor Mr. Gilliams requested a detailed operating expense of future City sponsored festivals. 6. Being no further business, Mayor Burkeen adjourned the Community Redevelopment Meeting at 6:23 p.m. 2 t~1Y' of r ~ f.;;, ` `~. HOME Q; P`lEiitvAN ISf.r~ND CRA AGENDA TRANSMITTAL Subject: Agenda No. t'~(n . ~~~ Indian River Drive/Main Street Project - Department Origin: C' Mana er 1302 Indian River Drive Land Purchase Finance Director City Attorney: App ove f r S bmittal by: City Clerk: Date Submitted: 6 DEC 06 A er City Manager Exhibits: Main Street Conceptual Drawing and Land Purchase Contract EXPENDITURE REQUIRED: AMOUNT BUDGETED: APPROPRIATION REQUIRED: $395,000 $801,242 $0 SUMMARY At the September 27, 2006 meeting of the Community Redevelopment Agency, the Council further considered the Indian River Drive/Main Street project. Later, a budget of $801,242 was established and a concept for the Indian River Drive/Main Street intersection and- Main Street Boat Ramp Area was discussed by staff and representatives from Neel-Schaffer, Inc. The main purpose for undertaking this project were to (1) improved usability and safety of Main Street Boat Ramp; (2) improve ambiance of Main Street/US 1/Indian River Drive intersections; (3) create "Bence of Place" for central downtown; (4) protect and enhance "View of the River"; and, (5) improved traffic and pedestrian circulation and safety. It was further discussed that the best method to achieve these concepts was to purchase the 0.12 acre parcel located at 1302 Indian River Drive owned by Bettoina Boudrot. Later and upon further discussion of the concept, Council authorized the City Manger to acquire two appraisals to seek the market value of the property. Two appraisals of been received prepared by Boyle & Drake and W.H. Benson. The appraisals reported a value of $300,000 and $322,000 respectively. Upon reviewing the appraisals the City Manager entered into negotiations with the project owner's attorney, Kevin Doty. Based on Council approval, a conditional offer was signed at a price of $395,000 with the contingency that, "The City will agree to accept a deed containing the condition that the purchased property shall only be used in conjunction with parks, cultural or waterfront recreational activities, with this limitation to be self-extinguishing after athirty-year (30) period of time." The City has provided an offer $75,000 over the estimated market value for the following reasons: 1. The appraisals could have under valued the property by: a. Not giving enough credit for buildable property; b. Not completely providing for highest and best use; 2. With City property surrounding the area, the property is a key component of the project which significantly adds to the intrinsic value to the City; .~ ~'~ 3. Initial internal estimates were greater that the appraisals; and, 4. FY 07 CRA Budget has funds to purchase property and enough to move forward with design costs. Further should the City purchase the property, below is an updated, project completion time-line: ITEM ESTIMATED COMPLETION DATE Property Appraisals Council Property Purchase Approval Close on Property Preparation of Design RFQ RFQ Bid Processing/Design Contract Award Design Time w/ Public Workshops Project Bidding Project Construction Project Completion September/October 2006 December 2006 Before January 9, 2007 December 2006/January 2007 February/March2007 June/July 2007 July/August 2007 September/October 2007 February/March 2008 RECOMMENDED ACTION r ~~ Recommend purchase of property as provided in contract for $395,000. L ~ p / ~. Main Street Indian River Drive Improvements --__..` l ~ /A ~2 1* 2* 3 4 5 6* 7* 8* 9* 10 11 12* 13* 14* 15* PARTIES: Bettina Boudrot ("Seller"), and City o£ Sebastian ~ ("Buyer"), hereby agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property") pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract"): I. DESCRIPTION: (a) Legal description of the Real Property located in Indian River County, Florida: See Attached Schedule A (b) Street address, city, zip, of the Property: 1302' Indian River Drive, Sebastian FL 32958 (c) Personal Property includes existing range(s), refrigerator(s), dishwasher(s), ceiling fan(s), light fixture(s), and window treatment(s) unless specifically excluded below. N/A Other items included are: Items of Personal Property (and leased items, if any) excluded are: 16" II. PURCHASE PRICE (U.S. currency) :........ . .................... . ..... . ....................... $ 395,000.00 17 PAYMENT: 18* (a) Deposit held in escrow by (Escrow Agent) in the amount of (checks subject to clearance) $ ------- 19* (b) Additional escrow deposit to be made to Escrow Agent within days after Effective Date 20* (see Paragraphllginthe amount of .......................................... ............._.............. $ ------- 21* ... (c) Rnancing (see Paragraph IV7 in the amount of .................... ~ ------- 22* (d)Other ............................................................................................ $ ------- 23 (e) Balance to close by cash, wire transfer or LOCALLY DRAWN cashier's or official bank check(s), subject 24* to adjustments or prorations .....:.. . ~y.{~!!. ....................................... ..................... $ 395,000.00 25 III. TIME FOR ACCEPTANCE OF AND COUNTEROFFERS; EFFECTIVE DATE: 26 (a) If this offer is not execut ~00 livered to all parties OR FACT OF EXECUTION communicated iri writing between the parties on or 27* before noon, December '2 6 the deposit(s) wi-I, at Buyer's option, be returned and this offer withdrawn. UNLESS OTH- 28 ERWISE STATED, THE TIME FORA ~ EPTANCE OF ANY COUNTEROFFERS SHALL BE 2 DAYS FROM THE DATE THE 000N- 29 TEROFFER IS DELIVERED, 30 (b) The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed or initialed this offer or the 31 final counteroffer. If such date is not otherwise set forth in this Contract, then the "Effective Date" shall be the date determined above for 32 acceptance of this offer or, 'rf applicable, the final counteroffer. 33 IU FINANCING: 34* ~ (a) This is a cash transaction with no contingencies for financing; 35* ^ (b) This Contract is contingent on Buyer obtaining approval of a loan ("Loan Approval") within days (ff blank, then 30 days) after 36* Effective Date ("Loan Approval Date") for (CHECK ONLY ONE): ^ a fixed; ^ an adjustable; or ^ a fixed or adjustable rate loan, in the prin- 37* cipal amount of $ at an initial interest rate not to exceed %, discount and origination fees not to exceed 38* % of principal amount, and for a term of years. Buyer will make application within days (if blank, then 5 days) after 39 Effective Date, Buyer shall use reasonable diligence to: obtain Loan Approval and notify Seller in writing of Loan Approval by Loan 40 Approval Date; satisfy terms and conditions of the Loan Approval; and close the loan. Loan Approval which requires a condition related to 41 the sale of other property shall not be deemed Loan Approval for purposes of this subparagraph. Buyer shall pay all loan expenses. If Buyer 42 does not deliver written notice to Seller by Loan Approval Date stating Buyer has either obtained Loan Approval or waived this financing con- 43 tingency, then either party may cancel this Contract by delivering written notice ("Cancellation Notice") to the other, not later than seven (7) 44 days prior to Closing. Seller's Cancellation Notice must state that Buyer has three (3) days to deliver to Seller. written notice waiving this 45 financing contingency. If Buyer has used due diligence and has not obtained Loan Approval before cancellation as provided above, Buyer 46 shall be refunded the deposit(s). Unless this financing contingency has been waived, this Contract shall remain subject to the satisfaction, 47 by Closing, of those conditions of Loan Approval related to the Property; 48* ^ (c) Assumption of existing mortgage (see rider for terms); or 49* ^ (d) Purchase money note and mortgage to Seller (see "AS IS" Standards B and K and riders; addenda; or special clauses for terms), 50* V. TITLE EVIDENCE: At least _ days (if blank, then 5 days) before Closing a title insurance commitment with legible copies of instruments 51 listed as exceptions attached thereto ('Title Commitment)" and, after Closing, an owner's policy of title insurance (see "AS IS" Standard A for 52 terms) shall be obtained by: 53* (CHECK ONLY ONE): XI (1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney; or 54* ^ (2) Buyer at Buyer's expense. 55* (CHECK HERE): ^ If an abstract of title is to be furnished instead of title insurance, and attach rider for terms. 56* VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on January 9, 2007 ("Closing"), unless 57 modified by other provisions of this Contract. If Buyer is unable to obtain Hazard, Wind, Flood, or Homeowners' insurance at a reasonable rate 58 due to extreme weather conditions, Buyer may delay Closing for up to 5 days after such coverage becomes available. 59 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to: comprehensive land use plans, zoning, 60 restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat or otherwise 61 common to the subdivision; outstanding oil, gas and mineral rights of record without right of entry; unplatted public utility easements of rgc~rd FAR/BAR ASIS-t Rev. 7/04 ©2004 Florida Association of R~+~TORS~ and The Florida Bar All Rights Reserved Page t of 4 "/ `'~`i THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR 62 (located contiguous to real property lines and not more than 10 feet in width as to the rear or front lines and 7 1'/2 feet in width as to the side 63 lines); taxes for year of Closing and subsequent years; and assumed mortgages and purchase money mortgages, 'rf any (if additional items, see 64* addendum); provided, that there exists at Closing no violation of the foregoing and none prevent use of the Property for Public 65* purpose(s). 66 VIII. OCCUPANCY: Seller shall deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein. ff Property is intended 67 to be rented or occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to "AS IS" Standard 68 F. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable 69 for. maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy 70 IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed pro- 71 visions of this Contract in conflict with them. 72* X. ASSIGNABILITY: (CHECK ONLY ONE): Buyer ^ may as~~99n and thereby be released from any further liability under this Contract; ^ may 73* assign but not be released from liability under this Contract; or'P] may not assign this Contract. 74 XI. DISCLOSURES: 75* (a) D CHECK HERE if the Property is subject to a special assessment lien imposed by a public body payable in installments which 76* continue beyond Closing and, if so, spec'rfy who shall pay amounts due after Closing: ^ Seller ^ Buyer ^ Other (see addendum). 77 (b) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to per- 78 sons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. 79 Addttional information regarding radon or radon testing may be obtained from your County Public Health unit. 80 (c) Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or desires additional information 81 regarding mold, Buyer should contact an appropriate professional. 82 (d) Buyer acknowledges receipt of the Florida Energy-Efficiency Rating Information Brochure required by Section 553.996, F.S. 83 (e) If the real property includes pre-1978 residential housing, then alead-based paint rider is mandatory. 84 (f) If Seller is a 'Yoreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with that Act. 85 (g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIA- 86 TION/COMMUNITY DISCLOSURE. 87 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE AMOUNT 88 OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. ACHANGE OFOWNER- 89 SHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. 90 IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 91 XII. MAXIMUM REPAIR COSTS: DELETED 92* XIII. NOME WARRANTY: ^ Seller ^ Buyer ~ N/A will pay for a home warranty plan issued by 93* at a cost not to exceed $ - 94* XIV. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have 15 days from Effective Date ("Inspection Period") within 95 which to have such inspections of the Property performed as Buyer shalt desire and utilities service shall be made available by the 96 Seller during the Inspection Period; (b) Buyer shall be responsible for prompt payment for such inspections and repair of damage 97 to and restoration of the Property resulting from such inspections; and (c) if Buyer determines, in Buyer's sole discretion, that the 98 condition of the Property is not acceptable to Buyer, Buyer may cancel this Contract by delivering written notice of such election 99 to Seller prior to the expiration of the Inspection Period. If Buyer timely cancels this Contract, the deposit(s) paid shall be imme- 100 diately returned to Buyer; thereupon, Buyer and Seller shall be released of al! further obligations under this Contract, except as 101 provided in this Paragraph X11/. The above provision (b) shall survive termination of this Contract. 102 XV. RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to and made part of this Contract: 103* ^ CONDOMINIUM ^ VA/FHA ^ HOMEOWNERS' ASS(~y ^ LEAD-BASED PAINT ^ COASTAL CONSTRUCTION CONTROL LINE 104* ^ INSULATION ~ Other Comprehensive Rider Provisions ~j Addenda 105* Special Clause(s): P°II acceptance of offer by seller, the contract shall be placed cm the agenda~or 106* consideration o City Council at its next available regular meeting. The contract ;~ rrn,t~~,t o~ 107"' a approva o City Council at its sole and lawful discretion. 108 XV1. "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS IS" Standards): Buyer and Seller acknowledge receipt of a copy of "AS 109 IS" Standards A through Z on the reverse side or attached, which are incorporated as part of this Contract. 110 THIS 15 INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, 111 SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. 112 THIS "AS IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR. 113 Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a 114 partic ar transaction. Terms and conditions should be negotiated based upon the respective interests, objectives and bargaining 115 positions of all interested persons. 116 ISK(*) FOLLOWING A LINE NUMBER IN THE MARGIN INDI, AT-E~THELINE ~NTAINS BLANK TO BE COMPLETE . 11 1 ~L. G ~ P QUA .G~ ~6) r 11..~~ Z' G ~ ~I ~' 1 ( Y Cl't`I I''1rr~l-q~d[ (DATE) (SELLER) (DAT~ ~ 119* 120 (BUYER) (DATE) (SELLER) (DATE) 121 * Buyers' address for purposes of notice 1225 Main Street Sellers' address for purposes of notice 122* Sebast:i.an, ~ 32958 123* 3 Phone Phone 124 BROKERS: The brokers (including cooperating brokers, if any) named below are the only brokers entitled to compensation in connection with 125 this Contract: 126* Name: N/A_-- - N/A 127 Cooperating Brokers, if any Listing Broker "`4,, FAR/BAR ASIS-1 Rev. 7/04 ©2004 Florida Association of Rea,~TORS" and The Florida Bar All Rights Reserved Page 2 of 4 ~,d 128 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS 129 A. TITLE INSURANCE: The Title Commitment shall be issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer, 130 an owner's policy of the insurance in the amount of the purchase price, insuring Buyer's marketable title to the Real Property, subject only to matters contained 131 in Paragraph VII and those to be discharged by Seller at or before Closing. Marketable title shall be determined according to applicable Title Standards adopt- 132 ed by authority of The Rorida Bar and in accordance with law. Buyer shall have 5 days from date of receiving the Ttle Commitment to examine it, and 'rf the is 133 found defective, notify Seller in writing specifying defect(s) which render title unmarketable. Seller shall have 30 days from receipt of notice to remove the 134 defects, failing which Buyer shall, within 5 days after expiration of the 30 day period, deliver written notice to Seller either: (1) extending the time for areason- 135 able period not to exceed 120 days within which Seller shall use diligent effort t0 remove the defects; or (2) requesting a refund of deposit(s) paid which shall 136 be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as It then is. Seller shall, if title is found unmarketable, 137 use diligent effort to correct defect(s) within the time provided. If, after diligent effort, Seller is unable to timely correct the defects, Buyer shall ether waive the 138 defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under this Contract. ff Seller is to provide the Ttle 139 Commitment and t is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer shall have up to 5 days from date of receipt 140 to examine same in accordance with this "AS IS" Standard. 141 B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage note tc Seller shall provide for a 142 30 day grace period in the event of default 'rf a first mortgage and a 15 day grace period if a second or lesser mortgage; shall provide for right of prepayment 143 in whole or in part without penalty; shall permit acceleration in event of transfer of the Real Property; shall require all prior liens and encumbrances to be kept 144 in good standing; shall forbid modifications of, or future advances under, prior mortgage(s); shall require Buyer to maintain policies of insurance containing a 145 standard mortgagee clause covering all improvements located on the Real Property against fire and all perils included within the term "extended coverage 146 endorsements" and such other risks and perils as Seller may reasonably require, in an amount equal to their highest insurable value; and the mortgage, note 147 and security agreement shalt be otherwise in form and content required by Seller, but Seller may only require clauses and coverage customarily found in mort- 148 gages, mortgage notes and security agreements generally utilized by savings and loan insttutions or state or national banks located in the county wherein the 149 Real Property is located. All Personal Property and leases being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evi- 150 denced by recorded or filed financing statements or certificates of title. If a balloon mortgage, the final payment will exceed the periodic payments thereon. 151 C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have the Real Property surveyed and certi- 152 fled by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback 153 lines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a title defect. 154 D. WOOD DESTROYING ORGANISMS: DELETED 155 E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as described 156 in Paragraph VII hereof and title to the Real Property is insurable in accordance wth "AS IS" Standard A without exception for lack of legal right of access. 157 F. LEASES: Seller shall at least 10 days before Closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature 158 and duration of the tenant's occupancy, rental rates, advanced rent and security deposits paid by tenant. If Seller is unable to obtain such letter from each ten- 159 ant, the same information shall be furnished by Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact ten- 160 ant to confirrn such information. If the terms of the teases differ materially from Seller's representations, Buyer may terminate this Contract by delivering written 161 notice to Seller at least 5 days prior to Closing, Seller shall, at Closing, deliver and assign all original leases to Buyer. 162 G. LIENS: Seller shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statement, 163 claims of lien or pgtential lienors known to Seller and further attesting that there have been no improvements or repairs to the Reat Property for 90 days imme- 164 diately preceding date of Closing. if the Real Property has been improved or repaired within that time, Seller shall deliver releases or waivers of construction 165 liens executed by ail general contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth the names of all such gen- 166 eral contractors, subcontractors, suppliers and materialmen, further affirming that all charges for improvements or repairs which could serve as a basis for a 167 construction lien or a claim for damages have been paid or will be paid at the Closirig of this Contract. 168 H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real Property is located at the office of the attorney or other closing agent ("Closing 169 Agent") designated by the party paying for title Insurance, or,rf no title insurance, designated by Seller. 170 I. TIME: In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods provided 171 for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. of the next business day Time is of the essence in this Contract. 172 J. CLOSING DOCUMENTS: Seller shall furnish the deed, bill of sale, certificate of title, construction lien affidavit, owner's possession affidavt, assignments of leas- 173 es, tenant and mortgagee estoppel letters and corrective instruments. Buyer shall furnish mortgage, mortgage note, securrty agreement and financing statements. 174 K. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by Seiler. All costs of Buyer's loan (whether obtained 175 from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, 176 mortgagee title insurance commitment with related fees, and recording of purchase money mortgage, deed and financing statements shall be paid by Buyer. 177 Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title evidence, title examination, and closing 178 fee (including preparation of closing statement), shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph V. 179 L. PROBATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. 180 Buyer shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be 181 increased or decreased as may be required by prorations to be made through day prior to Closing, or occupancy, 'rf occupancy occurs before Closing. Advance 182 rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current 183 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. ff Closing occurs at a date when the current year's mill- 184 age is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assess- 185 ment is not available, then taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1st of year of Closing, 186 which improvements were not in existence on January 1st of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assess- 187 ment to be agreed upon between the parties; failing which, request shall be made to the County Property Appraiser for an informal assessment taking into 188 account available exemptions. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of current year's tax bill. 189 M. SPECIAL ASSESSMENT LIENS: Except as set forth in Paragraph XI(a), certified, confirmed and ratified special assessment liens imposed by public bod- 190 ies as of Closing are to be paid by Seller. Pending liens as of Closing shall be assumed by Buyer. If the improvement has been substantially completed as of 191 Effective Date, any pending lien shall be considered certified, confirmed or ratified and Seller shall, at Closing, be charged an amount equal to the last estimate 192 or assessment for the improvement by the public body. 193 N. INSPECTION AND REPAIR: DELETED 194 O. RISK OF LOSS: If the Property is damaged by fire or other casualty before Closing and cost of restoration does not exceed 1.5% of the Purchase Price, 195 cost of restoration shall be an obligation of Seller and Closing shall proceed pursuant to the terms of this Contract with restoration costs escrowed at Closing. 196 If the cost of restoration exceeds 1.5% of the Purchase Price, Buyer shall either take the Property as is, together with either the 1.5% or any insurance pro- 197 ceeds payable by virtue of such loss or damage, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under this 198 Contract. 199 P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If the title agent insures adverse matters pursuant to Section 627.7841, 200 F.S., as amended, the escrow and closing procedure required by this "AS IS" Standard shall be waived. Unless waived as set forth above the following clos- FAR/BAR ASIS-1 Rev. 7/04 ©2004 Florida Association of REALTORS" and The Florida Bar All Rights Reserved Page 3 of 4 ~~" 201 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 202 ing procedures shall apply: (1) all closing proceeds shall be held in escrow by the Closing Agent for a period of not more than 5 days after Closing; (2) if Seller's 203 title is rendered unmarketable, through no fault of Buyer, Buyer shall, wfthin the 5 day period, notify Seller in writing of the defect and Seller shall have 30 days 204 from date of receipt of such notification to cure the defect; (3) if Seller fails to timely cure the defect, all deposits and closing funds shall, upon written demand 205 by Buyer and wfthin 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall return the Personal Property, vacate the 206 Real Property and reconvey the Property to Seller by special warranty deed and bill of sale; and (4) if Buyer faits to make timely demand for refund, Buyer shall 207 take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed 208 or bill of sale 209 O. ESCROW: Any Closing Agent or escrow agent (collectively "Agent") receiving funds or equivalent is authorized and agrees by acceptance of them to deposit 210 them promptly, hold same in escrow and, subject to clearance, disburse them in accordance with terms and conditions of this Contract. Failure of funds to 211 clear shall not excuse Buyer's performance. ff in doubt as to Agent's duties or liabilities under the provisions of this Contract, Agent may, at Agent's option, con- 212 tinue to hold the subject matter of the escrow until the parties hereto agree to its disbursement or until a judgment of a court of competent jurisdiction shall 213 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute. An attorney who represents 214 a party and also acts as Agent may represent. such party in such action. Upon notifying all parties concerned of such action, all liability on the part of Agent 215 shall fully terminate, except to the extent of accounting for any hems previously delivered out of escrow. If a licensed real estate broker, Agent will comply with 216 provisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seller wherein Agent is made a parry because of acting as Agent hereunder, or in 217 any sutt wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's fees and costs incurred with these amounts to 218 be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing parry. The Agent shall not be liable 219 to any party or person for misdellvery to Buyer or Seller of items subject to the escrow, unless such misdelivery is due to willful breach of the provisions of this 220 Contract or gross negligence of Agent. 221 R. ATTORNEY'S FEES; COSTS: in any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such liti- 222 gation, which, for purposes of this "AS IS" Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authorized by 223 Chapter 475, F.S., as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs and expenses. 224 S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of ail deposits, the deposit(s) paid by 225 Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for 226 the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this Contract; or Seller, 227 at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title mar- 228 ketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specific pertormance or elect to receive the return of Buyer's 229 deposit(s) without thereby waiving any action for damages resulting from Seller's breach. 230 T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; FACSIMILE: Neither this Contract nor any notice of tt shall be recorded in any public 231 records. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permtts, singular shall include 232 plural and one gender shall include all. Notice and delivery given by or to the attorney or broker representing any party shall be as effective as if given by or to 233 that parry. All notices must be in writing and may be made by mail, personal delivery or electronic media. ;4 legible facsimile copy of this Contract and any sig- 234 natures hereon shall be considered for all purposes as an original. 235 U. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, personal representative's, or guardian's deed, as 236 appropriate to the status of Seller, subject only to matters contained in Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, at the 237 request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. 238 V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No mod- 239 ification to or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the parties intended to be bound by it 240 W. SELLER DISCLOSURE: (1) There are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or 241 which have not been disclosed to Buyer; (2) Seller extends and intends no warranty and makes no representation of any type, either express or implied, 242 as to the physical condition or history of the Property; and (3) Seller has received no written or verbal notice from any governmental entity or agency 243 as to a currently uncorrected building, environmental or safety code violation. 244 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seller shall maintain the Property, including, 245 but not limited to lawn, shrubbery, and pool in the condttion existing as of Effective Date, ordinary wear and tear excepted. Seller shall, upon reasonable notice, 246 provide utilities service and access to the Property for appraisal and inspections, including awalk-through' prior to Closing, to confirm that all items of Personal 247 Property are on the Real Property and that the Property has been maintained as required by this "AS IS" Standard. Seller will assign all assignable repair and 248 treatment contracts and warranties to Buyer at Closing. 249 Y.1031 EXCHANGE: If elther Seller or Buyer wish to enter into alike-kind exchange (either simultaneous with Closing or deferred) with respect to the Property 250 under Section 1031 of the Internal Revenue Code ("Exchange"), the other parry shall cooperate in all reasonable respects to effectuate the Exchange, includ- 251 ing the execution of documents; provided (1) the cooperating party shall incur no liability or expense related to the Exchange and (2} the Closing shall not be 252 contingent upon, nor extended or delayed by, such Exchange. 253 Z. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by law, against any real estate licensee involved 254 in the negotiation of the Contract, for any defects or other damage that may exist at Closing of the Contract and be subsequently discovered by the 255 Buyer or anyone claiming by, through, under or against the Buyer. J FAR/BAR ASIS-1 Rev. 7/04 ©2004 .Florida Association of REALTORS® and The Florida Bar All Rights Reserved Page 4 of 4 ADDENDA 1 TO CITY OF SEBASTIAN'S OFFER TO BETTINA BOUDROT The following provision is incorporated as a part of the Offer made by the City to Boudrot: Further, the City will agree to accept a deed containing the condition that the purchased property shall only be used in conjunction with parks, cultural or waten`ront recreational activities, with this limitation to be self-extinguishing after N~~ ,r ~. ,~ ~2 G ~. ~~ ~ n Seller ~ i. a thirty-year (30) period of time.