HomeMy WebLinkAbout1988 Purchase of Boone Property•
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City of Sebastian
POST OFFICE BOX 780127 ❑ SEBASTIAN, FLORIDA 32978
TELEPHONE (407) 589 -5330
M E M 0
DATE: October 14, 1988
TO: Carol Carswell
Finance Director
FROM: Kathryn M. O'Halloran��
City Clerk
RE: Prepayment of Boone Property Promissory Note
The City Council, at their October 12, 1988, Regular Meeting,
approved the prepayment of the balance of the promissory note on
the Boone property, located on U.S. 1 adjacent to the Chamber of
Commerce, acquired in March 1988.
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OF PELICAN
City of Sebastian
POST OFFICE BOX 780127 ❑ SEBASTIAN, FLORIDA 32978
TELEPHONE (407) 589 -5330
M E M O R A N D U M
DATE: October 7, 1988
TO: Richard B Votapka, Mayor & Sebastian
City Council
FROM: Robert S. McClary
RE: Boone Property Promissory Note
In March, 1988 the City of Sebastian acquired a tract of land
known as the Boone Property located on U.S. #1, adjacent to the
Sebastian Chamber of Commerce. The purchase price of this
property was $150,000.00. The City paid $75,000.00 in cash and
signed a promissory note for the remaining $75,000.00. The note
provides for the payment of principal and interest not later than
March 18, 1989. The interest rate on the note is 8 1/2% which
equals a daily interest cost of $17.4658. For your information,
Mrs. Boone has assigned this note to another party. The
promissory note also provides for prepayment without penalty.
Although the note is not due until March 18, 1989, I feel that in
the best interest of the City of Sebastian to exercise its option
of prepayment and to pay the note in full. For your information,
I have attached a photo copy of the promissory note.
/jmt
Attachment
9 0
March ,1988
PROMISSORY NOTE
NON- NEGOTIABLE
The City of Sebastian, Florida, a Municipal Corporation
promises to pay to HELEN B. BOONE and SANDRA FAYE COBB, the
sum of SEVENTY -FIVE THOUSAND ($75,000.00) DOLLARS with interest
thereon at the rate of eight and one -half percent (8 �%) annual
interest not later than one year after date hereof. The City
may prepay this note at any time without any penalty. This note
is payable in Sebastian, Florida. This note is for the final
payment on a parcel of land sold by the payees to the City of
Sebastian of even date herewith, the same being described as
Hardee's Subdivision, No. B, PBS 4174, Lots 21,22,23 & 24, less
the South one foot of lot. 24, as part of an abandoned alleyway and
adjacent to lots 21,22,23 and 24, as in I.R. Book 30, page 413
and R. Book 50, page 462, Lot 1. Street address is 1312 Highway
No. 1, City of Sebastian, Florida. This note is not negotiable.
The daily rate is $17.4658.
CITY OF SE A I FLORIDA
! by:/
L . Ge arr i s , mayor
ATTEST c 9-rC�
Kathr, n M. O'Halloran
City lerk
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Get Y O�
1k
City of Sebastian
Richard B. Votapka POST OFFICE BOX 780127 O SEBASTIAN, FLORIDA 32978 -0127 Kathryn M. 0' Hallora
Mayor TELEPHONE (305) 589 -5330 City Clerk
M E M 0
DATE: April 11, 1988
TO: Carol Carswell.
Finance Department
FROM: Kathryn M. O'Halloran
City Clerk
SUBJECT: Warrenty Deed
-------------------------------- - - - - --
For your information and records, attached please find a copy of
the recorded Warrenty Deed between The City of Sebastian, Ms.
Helen Boone and Sandra Cobb.
KMO /daw
•
�oE'q S � �P
City of Sebastian
L. Gene Harris POST OFFICE BOX 780127 0 SEBASTIAN, FLORIDA 32978 -0127
Mayor TELEPHONE (305) 589 -5330 Kathryn M. Benjamin
City Clerk
April 11, 1988
Dear Ms. Boone:
For your information and records, enclosed please find a copy of
the Warranty Deed between yourself, Ms. Cobb and the City of
Sebastian for property described as followed:
Lot's 21, 22, 23, and 24, Block 1, Hardee Subdivision No. B,
according to the plat thereof as recorded in Plat Book 4, Page
74, Public Records of St. Lucie County, Florida; said land now
lying and being in Indian River County, Florida. LESS AND EXCEPT
the South 1 foot of lot 24; TOGETHER with all of that part of lot
7, Block 1, Hardee Subdivision No. B, line Easterly of new U.S.
Highway No. 1; TOGERTHER with the Easterly 5 feet of the vacated
alley lying immediately Westerly of lots 21 and 22 as above
described, which said alley runs in a Northwesterly -
Southeasterly direction through blocks 1 and 2 of said
Subdivision and vacated by Chapter No. 157 -A of the City Of
Sebastian, a certified copy of which was recorded on January 20th
1958 in Official Record Book, 30, Page 413, Public Records of
Indian River County; said alleyway being part of Block 1, Hardee
Subdivision No. B; LESS AND EXCEPT right of way for U.S. Highway
1 as it now exists.
Should you have any questions- concerning this matter, please feel
free to contact this office between the hours of 8 :00 A.M. and
4 :30 P.M. Monday thru Friday.
Sincerely,
�Ia; -Vthryn . O'Halloran CMC /AAE
City Clerk
KMO /daw
G,t Y
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atoll
City of Sebastian
L. Gene Harris POST OFFICE BOX 780127 ❑SEBASTIAN, FLORIDA 32978 -0127 FLOR
Mayor Kathryn M. BenJamin
TELEPHONE (305) 589 -5330
City Clerk
April 11, 1988
Flood Realty Inc.
226 Main Street Suite A
Sebastian, Florida 32958
Dear Mr. Flood:
For your information and records, enclosed please find a copy of
the Warranty Deed between Ms. Boone, Ms. Cob
Sebastian for property described as followedb and the City of
r
Lots 21, 22, 23, and 24, Block 1, Hardee Subdivision No. B,
according to the plat thereof as recorded in Plat Book 4, Page
74, Public Records of St. Lucie County, Florida; said land now
lying and being in Indian River County, Florida. LESS AND EXCEPT
the South 1 foot of lot 24; TOGETHER with all of that part of lot
7, Block 1, Hardee Subdivision No.
Highway No. 1; TOGERTHER with the Easterly 5afeetlof otheevacated
alley lying immediately Westerly of lots 21 and 22 as above
described, which said alley runs in a Northwesterly -
Southeasterly direction through blocks 1 and 2 of said
Subdivision and vacated by Chapter No. 157 -A of the City Of
Sebastian, a certified copy of which was recorded on January 20th
1958 in Official Record Book, 30, Page 413, Public Records of
Indian River County; said alleyway being
Subdivision No. B; LESS AND EXCEPT right for Block
Highway
1 as it now exists.
Should you have any questions concerning this matter,
free to contact this office between the hours of 8 :00 A.M. andeel
4 :30 P.M. Monday thru Friday.
Sincerely,
K
Kathryn M. O'Halloran CMC /AAE
City Clerk
KMO /daw
x
March /9 ,1988
PROMISSORY NOTE
NON - NEGOTIABLE
The City of Sebastian, Florida, a Municipal Corporation
promises to pay to HELEN B. BOONE and SANDRA FAYE COBB, the
sum of SEVENTY -FIVE THOUSAND ($75,000.00) DOLLARS with interest
thereon at the rate of eight and one -half percent (8 2%) annual
interest not later than one year after date hereof. The City
may prepay this note at any time without any penalty. This note
is payable in Sebastian, Florida. This note is for the final
payment on a parcel of land sold by the payees to the City of
Sebastian of even date herewith, the same being described as
Hardee's Subdivision, No. B, PBS 4174, Lots 21,22,23 & 24, less
the South one foot of lot 24, as part of an abandoned alleyway and
adjacent to lots 21,22,23 and 24, as in I.R. Book 30, page 413
and R. Book 50, page 462, Lot 1. Street address is 1312 Highway
No. 1, City of Sebastian, Florida. This note is not negotiable.
The daily rate is $17.4658.
CI Y OF E41,LORIDA
by:
Gene ayor
ATTES' ,,
Kat yn M. O'Halloran
Cit Clerk
WARRANTY DEED • •
INDIVID. TO INDIVID
This Warranty Beed glade llte �� day of MARCH
HELEN B. BOONE, an unremarried widow; and
SANDRA FAYE COBB, a married woman
hereinafter called the grantor, to
RAMCO FORM 01
A. I). 19 88 by
CITY OF SEBASTIAN, a municipal subdivision of the State of Florida
whose postof five address is p. 0. Box 780127, Sebastian, Florida 32978 -0127
hereinafter called the grantee:
(Wherever used herein the terms "grantor" and "grantee" include all the parties to this instrument and
the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations)
lgitnesseth: That the grantor, for and in consideration of the sum of $ 10.00 and other
valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, re-
mises, releases, conveys and confirms unto the grantee, all Iltat certain land situate in Indian River
County, Florida, viz:
Lots 21, 22, 23, and 24, Block 1, HARDEE SUBDIVISION NO. B, according to the
plat thereof as recorded in Plat Book 4, Page 74, Public Records of St. Lucie
County, Florida; said land now lying and being in Indian River County, Florida.
LESS AND EXCEPT the South 1 foot of Lot 24; TOGETHER with all of that part of
Lot 7, Block 1, Hardee Subdivision No. B, lying Easterly of new U. S. Highway
No. 1; TOGETHER with the Easterly 5 feet of the vacated alley lying immediately
Westerly of Lots 21 and 22 as above described, which said alley runs in a
Northwesterly - Southeasterly direction through Blocks 1 and 2 of said
Subdivision and vacated by Chapter No. 157 -A of the City of Sebastian, a
certified copy of which was recorded on January 20, 1958 in Official Record
Book 30, Page 413, Public Records of Indian River County; said alleyway being
Part of Block 1, Hardee Subdivision No. B; LESS AND EXCEPT right of way for
U.S. Highway No. 1 as it now exists.
The grantor, Sandra Faye Cobb hereby states that subject property is not her homesteal
nor is it ad'acent to her homestead property and further, that she resides at:
-� (0t5 lan s;tzcE,, �os�:Lat�t,, g�a2cFolA.
Together with all the tenements, hereditaments and appurtenances thereto belonging or in any-
wise appertaining.
To 'Have and to Mold, the same in fee simple forever.
Rnd the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land
in fee simple; that the grantor has good right and lawful authority to sell and convey said land; that the
grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of
all persons whomsoever; and that said land is free of all encumbrances, except taxes accruing subsequent
to December 31, 19 87
SUBJECT TO:
1. Restrictions, reservations, limitations and easements of record, if any;
this reference to said restrictions shall not operate to reimpose the same.
2. Zoning ordinances affecting said property.
In Witness Whereof, the said grantor has signed and sealed these presents the day and year
first above written.
Signed, sealed and delivered in our presence:
- 4-ivn4�i
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s to bo
,, , QD rBOE
... T. �°J� . G�`"' � ...... ........................ ...._. ....
Witness to both nYE COnR '
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
HELEN B. BOONE and SANDRA FAYE COBB
I SPACE BELOW FOR RECORDERS USE I
to mr known to be the person g described in and who executed the
foregoing instrument and they acknowledged before me that they
executed the same.
WITNESS my hand and official seal in the County and
State last aforesaid this Ili v4 day of
MARCH A. D. 19 88.
tip..! ........ .......... .. . ...................
NOTARY PUBLIC, STATE OF FLORIDA.
This Ins1ruturn! re pared 11 MY COMMISSION EXPIRES: NOV. 1, 1991.
y: S. Carpenito SJi_. rHRU NOTARY PUBLIC UNDERWRITERS.
:1ddrrss COMMERCIAL TITLE SERVICES, INC.
65 Royal Palm Blvd., Vero Beach, FL 32960
Incident to the issuance of title insurance.
0 0
March ,1988
PROMISSORY NOTE
NON - NEGOTIABLE
The City of Sebastian, Florida, a Municipal Corporation
promises to pay to HELEN B. BOONE and SANDRA FAYE COBB, the
sum of SEVENTY -FIVE THOUSAND ($75,000.00) DOLLARS with interest
thereon at the rate of eight and one -half percent (8 �%) annual
interest not later than one year after date hereof. The City
may prepay this note at any time without any penalty. This note
is payable in Sebastian, Florida. This note is for the final
payment on a parcel of land sold by the payees to the City of
Sebastian of even date herewith, the same being described as
Hardee's Subdivision, No. B, PBS 4174, Lots 21,22,23 & 24, less
the South one foot of lot,24, as part of an abandoned alleyway and
adjacent to lots 21,22,23 and 24, as in I.R. Book 30, page 413
and R. Book 50, page 462, Lot 1. Street address is 1312 Highway
No. 1, City of Sebastian, Florida. This note is not negotiable.
The daily rate is $17.4658.
CITY O#Ge
I FLORIDA
by= �
iCi L . ras , ay or
ATTEST: `
§ylte M. O'Halloran
rk
0
•
F. 285301 R 7/76 Form Approved OMB No. 63 -R -1501 Page 1
A
SETTLEMENT STATEMENT
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
B. TYPE OF LOAN
1. FHA 2. FMHA 3. CONY. UNINS.
4. C VA 5. CONV. INS.
6. File Number:
7. Loan Number:
11. ortpage Insurance Case Nu m er:
C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are
shown. Items marked "(p.o.c.) " were paid outside the closing,- they are shown here for Informational purposes and are not
included in the totals.
D. NAME OF BORROWER: City of Sebastian
ADDRESS: Sebastian, Florida
E. NAME OF SELLER: Helen B. Boone & Sandra Faye Cobb
ADDRESS:
F. NAME OF LENDER:
ADDRESS:
G. PROPERTY LOCATION: Part of Lots 21 - 24, Blk 1, Hardee S/D No. B
Sebastian Florida
H. SETTLEMENT AGENT: Commercial Title Services, Inc.
ADDRESS: 65 Royal Palm Blvd.
Vero Beach, FL 32960
1. SETTLEMENT DATE:
MARCH 18, 1 988
PLACE OF SETTLEMENT:
ADDRESS:
J. SUMMARY OF BORROWER'S TRANSACTION
K. SUMMARY OF SELLER'S TRANSACTION
100. GROSS AMOUNT DUE FROM BORROWER:
400. GROSS AMOUNT DUE TO SELLER:
101.
Contract sales price
1501000,00
401. Contract sales price
150; 000. 00
102.
Personal property
402. Personal property
103.
Settlement charges to borrower (line 1400)
6.00
403.
104.
404.
105.
405.
Adjustments for items paid by seller in advance
Adjustments for items paid by seller in advance
106.
City /town taxes to
406. City /town taxes to
107.
County taxes to
407. County taxes to
108.
Assessments to
408. Assessments to
109.
- -
409.
110
410.
111.
411.
112.
412.
120.
GROSS AMOUNT DUE
FROM BORROWER
150, 006. t_)Cl
GROSS AMOUNT DUE
420. TO SELLER
15i i t_ltrhi_i _ t=i(
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER:
500. REDUCTIONS IN AMOUNT DUE TO SELLER:
201
Deposit or earnest money
1 , 000. 00 1
501. Excess deposit (see instructions)
202.
Principal amount of new loan(s)
0.00
502. Settlement charges to seller (line 1400)
11 7012. 5t 1
203.
Existing loan(s) taken subject to
503. Existing loan(s) taken subject to
204.
504. Payoff of first mortgage loan
0. t_hf_h
205.
206.
505. Payoff of second mortgage loan
207.
209
F�irchase�'ioney httg.
75,E >i_1i1.t'1i1
5os.F'urchase Money I�lt9.
75, ±;i;�1_�;i;
209.
-
507.
Adjustments for items unpaid by seller
508.
210.
City /town taxes to
509.
211.
County taxes 1. /1/88 to -3 / 17
171 . 06
Adjustments for items unpaid by seller
212.
Assessments to
510. City /town taxes to
213.
*$846. 89 >t . 96/-- '66-77 day=_
511. County taxed .r 1 /88 to 17*
171. 06
214.
512. Assessments to
215
513.
216.
514.
217.
515.
218.
516.
219.
517.
22a
TOTAL PAID BY /FOR
BORROWER
76, 171 , 06
518.
519.
300. CASH AT SETTLEMENT FROM ?O BORROWER
-
520. TOTAL REDUCTIONS AMOUNT
DUE SELLER
86. 1371.56
301. Gross amount due from borrower (line 120)
150, 006. 06
302.
Less amounts paid by /for borrower (line 220)
76,171.06
600. CASH AT SETTLEMENT TO /FROM SELLER
303.
CASH ( ®FROM) (E] T01 BORROWER
73,e-.-4.94
601. Gross amount due to seller (line 420)
150 00[_h. [ h( h
602. Less reductions in amount due seller (line 520)
86 87•'. 56
603. CASH ( ai (❑FROM)SELLER
6', 126, 44
I b i s form p[ovidvoI by 1:11tSf AM[RICAN I I I I.I. INSURANCE COMPANY 110D 1 Hay. (5/76)
700. TOTAL SALES /BROKERS co) COMM1SS�ased on price •
$ 15, 1)111). 00 00 % _$ 1U, 000. iltl
1)
PAID FROM
BORROWER'S
FUNDS AT
SETTLEMENT
PAID FROM
SELLER'S
FUNDS AT
SETTLEMENT
Division of Commission /line 700) as follows:
701. $ 10, 1, 00t7. 00 to F 1 ood Realty, Inc.
702, $ to
703. Commission paid at Settlement
(Money retained by broker applied to commission $
per month
10,000.00
704. Other sales agent charges
month Cd $
705. Additional commission
1001
City property taxes
800. ITEMS PAYABLE IN CONNECTION WITH LOAN
801. Loan Origination Fee %
per month
1004.
802. Loan Discount %
month 0) $
- --
803. Appraisal Fee to
100!
Ammar
804. Credit Report t0
per month
805. Lender's Inspection Fee
month CI $
806. Mortgage Insurance Application Fee to
per month
1007,
807. Assumption Fee
month Cd $
808. - --
1008
809.
per month
810.
1100. TITLECHARGES
811 -. - - -- --
1101.
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
901. Interest from to @$ /day
902 Mortgage Insurance Premium for months to
903. Hazard Insurance Premium for years to
904, years to
905. -- - - - - - -- --
1108. Iltlernstnduce Title Service
(includes ,d,uvc ItL', ),S 111/117II 1'15;
1109 1 melee's Coveldllc $
1110. Owuel's Covetjge 1501 t_)t_)[) $- 845.00 - -- -
1111.
1112. IRS Compliance Fee
1113.
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES
12()1 ll(!cni,Iin,l rues I)ceeh $ b. 0t) , Moo nlayc $ - O. 00 ; Release $
1202 Cily/Counly lax /slanlps: DC-1 $ ; Mortgage $ -_ -- -- --- --- - - - - -- - --
1203 Slate Idx /stamps: Deed - 8?c' t )! ? -- Morkldge $ _ -
1204
1201) Recording of Stipulation & Judgment
1301) ADOITIONAI SETTt EMENT CIIARGES
1:101 Survey to
1:302 Pesl Inspection tO
1303
1:10 4
130b --
1306.
1307.
1,100 10 IAI. STTTI EM[ NT CIIAHGES le „ter on Imes 103, Section Jen(I 502, Section K)
have caidtiIly reviewed the IIIII) 1 Settlement Statement and to the best of my knowledge and belief, it is a Iruu and accurate statement of all receipts and disbursements made on my account or by
Ille 111 this Ir,1114,1LI1111. 1 11111111'1 Celllly 111,11 1 h ,1Ve (Milled a Cepy of the III)D -1 Settlement Statement.
Donower: CITY OF SEBASTIAN Date: _ Seller: _ r r� Date:"
HELEN B. BOONE
L -
i ' d';.;
Borrower.
BY: Date: ' '� __- Seller: _ -� Date: L-
�l1°t�o 1 SANDRA FAYE C(?SB
The 11111) 1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in accordance with this statement.
1
i
Date: ___ Settlement Agent: es �� Date: 3�- 1 Z_ � _�____
WARNING: 11 e, I clime 1e tm- 1110Y make I,1I.e slalene:Ws In the thated States on this or any other similar form. Penalties upon Conviction Can include a fine and imprisonment. For details see: Title
IH W. I i 1. 1111, 111111 ,eul Sri rum III III
I'f1I .1
1000. RESERVES DEPOSITED WITH LENDER
--
1001.
I lazard insurance - --
month Cu $
per month
1002.
MooIgagu insurance
month Cd $
per month
1001
City property taxes
month @ $
per month
1004.
County plopelty taxes
month 0) $
- --
per month
100!
Ammar
$
per month
1006.
month CI $
per month
1007,
month Cd $
per month
1008
nlonlh (P $
per month
1100. TITLECHARGES
1101.
Settlement or clos1111) Iee
to
1102
Al,stlact l„ title sell ch
1„
-
1103.
-11111: exasnindlloll
1704_
1 W insu,.elce hinihr,
1101,
I)urunuvu plepalalioll
-
U,
11011
Nul,uy Ices
to
110/
Atlomvv's lee
to
(11,1 bubo above IWII)s rlon,br,s,
1108. Iltlernstnduce Title Service
(includes ,d,uvc ItL', ),S 111/117II 1'15;
1109 1 melee's Coveldllc $
1110. Owuel's Covetjge 1501 t_)t_)[) $- 845.00 - -- -
1111.
1112. IRS Compliance Fee
1113.
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES
12()1 ll(!cni,Iin,l rues I)ceeh $ b. 0t) , Moo nlayc $ - O. 00 ; Release $
1202 Cily/Counly lax /slanlps: DC-1 $ ; Mortgage $ -_ -- -- --- --- - - - - -- - --
1203 Slate Idx /stamps: Deed - 8?c' t )! ? -- Morkldge $ _ -
1204
1201) Recording of Stipulation & Judgment
1301) ADOITIONAI SETTt EMENT CIIARGES
1:101 Survey to
1:302 Pesl Inspection tO
1303
1:10 4
130b --
1306.
1307.
1,100 10 IAI. STTTI EM[ NT CIIAHGES le „ter on Imes 103, Section Jen(I 502, Section K)
have caidtiIly reviewed the IIIII) 1 Settlement Statement and to the best of my knowledge and belief, it is a Iruu and accurate statement of all receipts and disbursements made on my account or by
Ille 111 this Ir,1114,1LI1111. 1 11111111'1 Celllly 111,11 1 h ,1Ve (Milled a Cepy of the III)D -1 Settlement Statement.
Donower: CITY OF SEBASTIAN Date: _ Seller: _ r r� Date:"
HELEN B. BOONE
L -
i ' d';.;
Borrower.
BY: Date: ' '� __- Seller: _ -� Date: L-
�l1°t�o 1 SANDRA FAYE C(?SB
The 11111) 1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in accordance with this statement.
1
i
Date: ___ Settlement Agent: es �� Date: 3�- 1 Z_ � _�____
WARNING: 11 e, I clime 1e tm- 1110Y make I,1I.e slalene:Ws In the thated States on this or any other similar form. Penalties upon Conviction Can include a fine and imprisonment. For details see: Title
IH W. I i 1. 1111, 111111 ,eul Sri rum III III
I'f1I .1
FATIC -200 (9 -76)
Commitment No. FA-C- — 842187
1 $ � A M E R
c
�` 92 Commercial Title Services, ln6.
65 Royal Palm Blvd.
Vero Beach, FL 32980
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
First American Title Insurance Company
FIRST AMERICAN TITLE INSURANCE COMPANY, a corporation of California, herein
called the Company, for a valuable consideration, hereby commits to issue its policy or policies
of title insurance as identified in Schedule A, in favor of the proposed Insured named in Schedule
A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred
to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions
of Schedules A and B and to the Conditions and Stipulations hereof.
This Commitment shall be effective only when the identity of the proposed Insured and the
amount of the policy or policies committed for have been inserted in Schedule A hereof by the
Company, either at the time of the issuance of this Commitment or by subsequent endorsement.
This Commitment is preliminary to the issuance of such policy or policies of title insurance
and all liability and obligations hereunder shall cease and terminate six (6) months after the
Effective Date hereof or when the policy or policies committed for shall issue, whichever first
occurs, provided that the failure to issue such policy or policies is not the fault of the Company.
This Commitment shall not be valid or binding until Schedule A has been countersigned by
either a duly authorized agent or representative of the Company and Schedule B -I and B -II have
been attached hereto.
IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed,
to become valid when countersigned by an authorized officer or agent of the Company, all in accord-
ance with its By -Laws. This Commitment is effective as of the date shown in Schedule A as
"Effective Date ".
First American Title Insurance Company
By: I� President
Attest: G• Secretary
A.L.T.A. COMMITMENT — 1966
FAT IC -201 (Rev. 9-78) i
W
First American Title Insurance Company
SCHEDULE A
Agent's
File Nc.: CT -1013 Commitment No. FA -C- 842187
Date Issued: March 16, 1988 11:40 A. M.
Date Effective: March 9, 1988 5:00 P. M.
2. Policy or Policies to be issued: Amount of Policy: $ 150,000.00
(a) A. L. T. A. Owner's Policy B
Proposed Insured: City Of Sebastian, a municipal subdivision
of the State of Florida
(b) A. L. T. A. Loan Policy
Proposed Insured:
3. The estate or interest in the land described or referred to in this Commitment and covered herein is an estate or interest
designated as follows:
FEE SIMPLE
4. Title to the estate or interest in the land described or referred to in this Commitment and covered herein (and designated
as indicated in No. 3 above) is, at the effective date hereof, vested in:
Helen B. Boone and Sandra Faye Cobb
5. The land referred to in this Commitment is in the
State of Florida County of Indian River
and described as follows:
Lots 21, 22, 23, and 24, Block 1, HARDEE SUBDIVISION NO. B. according to the
plat thereof as recorded in Plat Book 4, Page 74, Public Records of St. Lucie
County, Florida; said land now lying and being in Indian River County, Florida.
LESS AND EXCEPT the South 1 foot of Lot 24; TOGETHER with all of that part of
Lot 7, Block 1, Hardee Subdivision No. B. lying Easterly of new U. S. Highway
No. 1; TOGETHER with the Easterly 5 feet of the vacated alley lying immediately
Westerly of Lots 21 and 22 as above described, which said alley runs in a
Northwesterly - Southeasterly direction through Blocks 1 and 2 of said
Subdivision and vacated by Chapter No. 157 -A of the City of Sebastian, a
certified copy of which was recorded on January 20, 1958 in Official Record
Book 30, Page 413, Public Records of Indian River County; said alleyway being
part of Block 1, Hardee Subdivision No. B; LESS AND EXCEPT right of way for
U.S. Highway No. 1 as it now exists. (Insert above line name of Agent)
Commercial Title Services, lncBy
65 Royal Palm Blvd. Authorized Signatory
Vero Beach, FL 32960
FATIC -202 (Rev. 9 -78) '—
First American Title Insurance Company
SCHEDULE B -1
(Requirements)
Agent's
File No.: CT -1013
Commitment No. FA -C- 842187
The following are the requirements to be complied with:
1. Payment to, or for the account of, the grantors or mortgagors of the full consideration for the estate or interest to be
insured.
2. Payment of all taxes, assessments, levied and assessed against subject premises, which are due and payable.
3. Satisfactory evidence shall be produced that all improvements and /or repairs or alterations thereto are completed; that
contractor, subcontractor, labor and materialmen are all paid in full.
4. Instruments in insurable form which must be properly executed, delivered and duly filed for record:
(a)
Recording of Stipulation Agreement of the Estate of William E. Boone.
(b) Recording of Judgment Approving Stipulation and Directing Distribution
of the Estate of William E. Boone.
(c) Warranty Deed executed by Helen B. Boone and Sandra Faye Cobb, joined by
their spouses, if any, to City of Sebastian, a municipal subdivision of
the State of Florida, conveying title to subject property.
5. Owner's Affidavit stating that there are no liens against subject property,
that no work has been done on the property within the last 90 days, that
subdivision requirements, if any, have not been violated, and that there
are no other parties in possession of the premises.
b. Current conforming survey certified to purchaser and Commercial Title
Services, Inc. /First American Title Insurance.
V
First American Title Insurance Company
SCHEDULE B -II
(Exceptions)
Agent's CT -1013
File No.:
Commitment No. FA -C-
842187
Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are dis-
posed of to the satisfaction of the Company.
1. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or
attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of rec-
ord the estate or interest or mortgage thereon covered by this Commitment.
2. Any owner's policy issued pursuant hereto will contain under Schedule B the General Exceptions set forth at the in-
side cover hereof. Any loan policy will contain under Schedule B General Exceptions 1, 2, 3, and 5 unless a satisfac-
tory survey and inspection of the premises is made and will contain General Exceptions 4 and 6.
3. In the event this Commitment is issued with respect to a construction loan to be disbursed in future periodic install-
ments, then the policy shall contain an additional exception which shall read as follows:
"Pending disbursement of the full proceeds of the loan secured by the mortgage insured, this policy only insures
the amount actually disbursed, but increases as proceeds are disbursed in good faith and without knowledge of
any intervening lien or interest to or for the account of the mortgagor up to the amount of the policy. Such dis-
bursement shall not extend the date of the policy or change any part thereof unless such change is specifically
made by written endorsement duly issued on behalf of the Company. Upon request by the insured (and payment
of the proper charges therefor,) the Company will search the public records subsequent to the date of the policy
and furnish to the insured a continuation report showing such matters affecting title to the land as they have
appeared in the public records subsequent to the date of the policy or the date of the last preceeding continuation
report, and if such continuation report shows intervening lien, or liens, or interest to or for the account of the
mortgagor, then in such event this policy does not increase in liability unless such matters as actually shown on
such continuation report are removed from the public records by the insured."
4. Taxes, levies and assessments levied or assessed subsequent to December 31,
1987, including ad valorem taxes for 1988, which became a lien on January
1, 1988, but are not due and payable until November 1, 1988.
5. Any mortgage created simultaneously with the transfer of title.
6. Easement as set forth in Official Record Book 643, Page 2920, Public
Records of Indian River County, Florida.
NOTE: Standard Exceptions 1 and 4 will be deleted by proper owner's affidavit.
(Subject to state of facts contained therein.)
Standard Exceptions 3 and 5 to be deleted by conforming survey.
(Subject to state of facts contained therein.)
� f �i`� �isx�4l AFt'ORO
ar.� sae a a a aw,w,rr r ar a s a s s.. a..-a
a-Mr MO
1•e
K, Made this 2nd shg o/ September . A. A. B 59 .
D[hPM LXY 3. KIR::LIVD, a widow
,r/ the l:..anty n/ India:, iver and stare of Florida
h.., m In1y the first part. addres. is rend asc 0ce�`�venue,, BoyntonBeach,hFlorida
of Ihr I: IV o/ Pal^+ 3eacn and State al Florida
prsrf its n/ the seemed part, gbktS$ ms that the said part y of the first port. /or and
n..drrnhorr u/ Ihr anm ,1l Tcn - - hales. and •dhrr gwd
rend r I,,. Mr rvr idrrolums to her in hard paid. the re.ript -.Mre-f is hereby aAw..wJ•
edged, ha g graulyd. Mnry,unrd, said and rnrwyrd. and by these presents dr. es �runl. hnn
r ,r IL runnry rnnA .nn/irm unto the said part lee of the sir+ -d part and that,. Ann
p .not
and muym (orn.er, a/f that nrlairt pared r.f lard lgiry and Mrnq in IM Lwnfg o/ Indian Rivet
,1nd 51,111 .,f 'r lor_da , more parts- -lady dewnb d as 1d1aw:
23 and 24, Block 1, Hardee Subdivision 'B', according to
_1a_ :ilcd in the office of the Clerk of the Circuit Court it St. Lucie
?lorlda, in Plat Book 4, gage 74;
3J t51n. easterly o: 'r:cw U. S. rli&hway ::o. 1 as it now exists, accord -
-o 'tat filei in the office of the Clerk of the Circuit Court Of
e ^ovncy, Florida, in Plat Book 4, ^aoe 74;
11)1 =! rich the easterly � feet of the vacated alley lying infemedlatel)
waeterl5 0f Lots 21 and•22'as above described, which s•id alley runs 1e
a aorti,wescerly- southeasterly direction through Blocks 1 and 2 of said
>d,,,:,.isioa and vacated by Chapter So. 157 -.1 of the City of Sebastian,
3 ecr:i:ied _005 of wnich was recorded on January 20, 1956, in Official
-cord ;00;; 3G, ?ape 413, I:,dian Giver County records; said alleyway
boi::o �arL of 5lock 1, Hardee Subdivision "B ", aofSt.nL to ?:,O filed
in tira o::ice of the Clerk of the Circuit Court of St. Lucie County.
7lorida, to Plat Book + ?abe 74: all at said land lying and bein` In
the City of Sebastian., Indian River County, ?lazida.
T.x;ZTa� with .ire{ co the raRc�ee to use for private docking and
tot "lit>' ti r8"L'!fd brantor on Lots 5, b, 7 and d of
personal use, pro?er y 3
Blocic 3 of Hardee S D. which said lots are waterfront lots; providing,
never, that said use by the ;rancee s;,all not
be harmful nun de ?te-
ciatin.; to said proierty; and further, in the event said pro?erty la
sold, tfat the grantee snail have the rf ht of ineress and egress to
the Tndian River for 3ockin;; nurnoses„as herein provided.
^0 eaeenencs, restrictions and reservations of record.
;.Ibj,•c: co taxes suusequel.c to the year 19:0.
T,11th ,111 the Irnen,rn/s. hrredtlarrsenls ord app- rlrwan,reC -rlh -wry prurlryr. rsgAl.
frllr. udmU wed .date. down and right of dwrrr. nwnsan. -~,ad,, and ewwnwnf IMrrh
Mlnnyrny .w m any -n.e upper /euunq
To RM Wd to )W IM saner saw fee wswpb /.rese►.
And the crud part% '4 the pat part do es roornwd awth IM red part ice of Iha
..s.l peer In,,$ she is lurs.tally sr st .4 he sotd prewnws, that I" are It" Item
�dl nrnnJvrrssr.
and shot she has 0_.d 1-060 —a I.-
I rJ mnh.ru, n. a•ll she aaw.•:.a-d nM r.ad Inn y ..I es here 6, /efh errau
rh. earl. w ..ad Lewd. and -,ll A.•f.wd rh.• raw. nsa,ww rhr .4 all /term a60rs.-erre.
In MUS MMMC the said pet y a1 the first part M a Mrro." we
hand and seal he day and got_ ahow wrfNw.
rd. rd a di n
I
LUCY L1�1�+
OFFICIAL RECORD
j.J60
Stan of FLORI-A
Of I'MIAN MVE71,
Thm — shu ddv. b-1-1 I m 4� dldr
.rd and to sAw C—mt 41ur� d so &.Jw ckm"xmem& Prrm—dl) dpprovd
a widav
k.. Perrin d-,.bed iw rrwl rAe q 8,d th, 1ar�lai&l iwrrrwewt w/
.4l'o wknar"Rrd bejt ~ that a Aw rx—" tAw trove. I
to rw. kr d e "/1r.1.1 ^-*I m gAw (".As.v rtd %we a/
A. D. 19 59.
Y.I�PwrState of Florida jc Lar&
(!,atary. -eal)
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HELEN S. BOONE and SANDRA*FAYE COBB QQQ
It mmelh► m1w 14 wanlw. to
THE CITY OF SEBASTIAN, a municipal corporation f the State of
Florida
%J� P. #Wllr. M m is P. 0. Box 127, Sebastian, Florida 329Sa
ItarJttollw mart/ A. M�Mao:
"~ ..a t..w.
+&.rr rtl o. wnw..t rya .rra. r ..r,..r...
T4M A. nrw"w. 1w and in n sir6mi n d f 10.00 owi aMatw
raatr.lta. rom'domp.na, PP. .. l "•it.rt+l U 6"4 arLw.r•ir.i�.J. iy Mwn4. yea, a.1a, oiNwa. ti
wtin. ' nrtw" .td n"twou tow. IL. f.."I....0 Ilt.l «.w" anal aawwl. in Indian River
C"moy. Fbrda, t•u:
The South 1 foot of Lot 21, Block 1, HARDEE SUBDIVISION, NO.
B. as shown in Plat look 4, Page 71, St. Lucie County Records;
together with an easement over and under the following described
property, to -wit:
east S feet of the South 6 feet of the West
835 eet of Lot 24, Block 1, HARDEE SUBDIVISION,
`N6. B, Plat look 4, Page 71, St. Lucie County
Records. Said land now lying and being in the City
of Sebastian, Indian River County, Florida.
i"Idw WA an At wiw.iwr. Lw.iwwwtr .J aPPw.wftmW" 08 bi„«„e « In aq,
Wdm aNwl.hUq.
To Tatar ad to Milli, A. arr N h• ra�.a• �.,..».
Aw A. p.Mw L-067 -raw* n1A Bed v.mr. Am A. wwww Y i.fah ..Iri ./ sad 6d
M fw .wb: A.1 16 f.w. Lm @ d v*Aj a j 6wW .. -,r ) to we and com•.y 8"d W: A./ A.
p.Ma. A-Ay fob ..rri.w A. ed, r ..d 64 and Wig /wood AV =no asst/ A. " .la M of
all pnaana v4a"wnw. ad Am M"d had is �ft of ON aratwa;talaew. ymgl 1.aw nea +alae aninwa W
is I)a..i« 11. N 79.
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]k IMM , A. -ad p.nlw A. Jq atd 7.«
ndA&=h or'r wnwe�.
He en D: .one
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�Sandr
fTAT11 t» Florida 1 '1O • '« nc� m
MUM o► Indian River
I NaaaaY CUTIrY tW on thi b,. 4hrw r. r aM rub
MNri d is tN fur alawrai� ad i At Ctt -1 alrorr r tail*
ptwa- ward
HELEN B. BOONE and SANDRA FAYE
cOaa
r r t►r rerw s tkrnlq is ad .60 Mme Na
mw have r+rrlr;d bw— v tfr they
t•a.r.wr
�� � , .,r� ri. .a � w ��
ut D. )9 0 � �
....
b1: DANIEL [ILBRIDE, JR.
ia(dlts ' P. 0. am 2427
Vero beech, Florida 32960
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STANDARD EXCEPTIONS FOR OWNER'S POLICY
The owner's policy will be subject to the mortgage, if any, noted under item one of Item 4 of
Schedule B -I hereof and to the following general exeeptions:
1. Rights or claims of parties in possession not shown by the public records.
2. Easements, or claims of easements, not shown by the public records.
3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed
by an accurate survey or inspection of the premises.
4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished,
imposed by law and not shown by the public records.
Any adverse claim to any portion of said land which has been created by artificial means or
has accreted to any such portion so created and riparian rights, if any.
6. Taxes or special assessments which are not shown as existing liens by the public records.
CONDITIONS AND STIPULATIONS
The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security
instrument.
If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse
claim or other matter affecting the estate or interest or mortgage thereon covered by this Commit-
ment other than those shown in Schedule B -I and Schedule B -II hereof, and shall fail to disclose
such knowledge to the Company in writing, the Company shall be relieved from liability for any
loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced
by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to
the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien,
encumbrance, adverse claim, or other matter, the Company at its option may amend Schedule B -I
and /or Schedule B -II of this Commitment accordingly, but such amendment shall not relieve the
Company from liability previously incurred pursuant to paragraph 3 of these Conditions and
Stipulations.
3. Liability of the Company under this Commitment shall be only to the named proposed Insured
and such parties included under the definition of Insured in the form of policy or policies com-
mitted for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to
comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B -I or
(c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment.
In no event shall such liability exceed the amount stated in Schedule A for the policy or policies
committed for and such liability is subject to the insuring provisions, the Exclusions from Cover-
age and the Conditions and Stipulations of the form of policy or policies committed for in favor
of the proposed Insured which are hereby incorporated by reference and are made a part of this
Commitment except as expressly modified herein.
4. Any action or actions or rights of action that the proposed Insured may have or may bring against
the Company arising out of the status of the title to the estate or interest or the status of the
mortgage thereon covered by this Commitment must be based on and are subject to the pro-
visions of this Commitment.
WARRANTY DEED
INDIVID. TO INDIVID
This barranty Heed the
�J
day of March
RAMCO FORM 01
A. D. 19 88 by
Heen B. Boone and Sandra Faye Cobb,
hereinafter called the grantor, to The City of Sebastian, Florida, a Municipal
Corporation
Whose postoffice address is P.O. Box 780127, Sebastian, FL. 32978 -0127
hereinafter called the grantee:
IWherever aced herein the terms '-grantor" and ",grantee" include all the parties to this instrument and
the heirs. 1,v,d representatives and assigns of individuals, and the successors and assigns of corporations)
itnesseth. That the grantor, for and in consideration of the sum of $ 10.00 and other
valuable considerations, receipt whereof is Hereby acknowledged, hereby grants, bargains, sells, aliens, re-
mises, releases, conveys and confirms unto the grantee, all that certain land situate in Indian River
County, Florida, viz:
Hardees Subdivision, No. B, PBS 4174, Lots
21,22,23 and 24, less the South one foot of
Lot 24 as part of an abandonded alleyway and
adjacent to Lots 21,22,23 and 24, as in I.R.
Book 30, page 413 and R. Boole 50, page 462,
Block 1. The same has a street address of
1312 U.S. H4 ghway No. 1, City of Sebastian.
Together with all the tenements, hereditaments and appurtenances thereto belonging or in any-
wise appertaining.
Jt o slave and to Hold, Loki, the same in fee simple forever.
And the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land
in fee simple; that the grantor has good right and lawful authority to sell and convey said land; that the
grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of
all persons whomsoever; and that said land is free of all encumbrances, except taxes accruing subsequent
to December 31, 19 8 8 .
-in Witness Whereof, the said grantor has signed and sealed these presents the day and year
first above written.
Signed, sealed and delivered in our presence:
- - -- ......................................... ---- - - - - -- -- - - - - -- - - - -.®
He lean B. Boone
WITNESSES AS TO BOTH GRANTORS Sandra
SPACE BELOW FOR RECORDERS USE
STATE OF Flor -_da 1t)}
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 Helen B. Boone and
Sandra Faye Cobb
to me known to be the person S described in and who executed the
foregoing instrument and they acknowledged before me that they
executed the same.
WITNESS my hand and official seal in the County and
State last aforesaid this day of
MARCH A. D. 19 88
-- -- ----- - --- -- - - - -- --------------....--........--....--------------------------------------- - - --
NOTARY PUBLIC, State of Florida at Large.
This Ins1rutnew prepared by: Thomas C. PaJ_mer
Address 1627 U.S. Highway No. 1
Sebastian, Florida 32958
L. Gene Harris
Mayor
•
Ilk
City of'Sehastian
POST OFFICE BOX 780127 O SEBASTIAN, FLORIDA 32978 -0127
TELEPHONE (305) 589 -5330
February 19, 1988
TO: Sebastian City Council
FROM: Mayor L. Gene Harris —ff
RE: Boone Property
Kathryn M. O'Halloran
City Clerk
The attached Opition Contract regarding the Boone Property is
for your review.
I will ask that this matter be placed on Wednesday, 2/24/88
meeting agenda.
LGH /jmt
Attach.
0
OPTION CONTRACT •
3flus 00011 Contract made the
between
RAMCO FORM 31
24th (illy of
Hellen B. Boone and Sandra Faye Cobb
•
February
L:1
, A. I). 19 88
hereinafter called Seller, and The City of Sebastian, Florida, a Municipal
Corporation P
hereinafter called Purchaser:
the legal herein the terms "Seller" and •'Purchaser•• include all the parties to this instrument and used the heirs, Irgal rep,esentauves and assigns of individuals, and the successors and assigns of corporations.)
Ilitnesseth: ,,,,at ilea Seller, for and in consideralion of the sum of $ one hundred
in hand paid by the Purchaser, hereh
March 24, Y gives to file Purchaser the privilege of purchasing, on or before
19 88 lie following describer) real estate situate it, Indian River
County, Florida, viz;
Hardees Subdivision, No. B, PBS 4174, Lots 21, 22,
23 and 24, less the South one foot of Lot 24, as
part of an abandonded alleyway and adjacent to
Lots 21,22,23 and 24, as in I.R. Book 30, pages
413 and R. Book 50, page 462, Block 1.
Street address 1312 U.S. Highway No. 1 Sebastian.
The City shall have until March 24, 1988 to advise Sellers whether
City desires to purchase this property. In the event that the City
does purchase the property the costs of this Option shall be
considered part of-the purchase price and shall be deducted from
the monies otherwised owed under exercise of this option.
at and for file price of one hundred and fifty thousand
(
to be paid as follows: seventy five thousand at closing( $$750, 000.00) Dollars
in cash and lite sum of seventy five thousand plus 8.5% inter�est00) Dollars
on the unpaid balance of $75,000.00 one year after the closing,
to be evidenced by file promissory note or notes of the Purchaserxptc}xxpxrk6cvcvlwi,;m
°�°cQ�`�X4�
cash
payment to be made, and note or notes 0Qlsc6gMt)gMW delivered,
on or before April 8, 1988. X9C.
The Seller agrees to furnish title insurance or an abstract of title showing good and marketable title to
said real estate arid, in case file privilege of purchase hereh
ten, to corwe Y given is exercised upon file terms above writ-
y said land to the Purchaser by good arse) sufficient warranty deed, free and clear of all liens
or encumbrances , The terms and conditions of the attached contract for
sale and purchase shall be applied to this option except as where
modified herein. Said agreement had a time of acceptance of Jan-
uary 27, 1988 and refers to Commercial Title Servipes, Inc, as
escrowee.
This Instrument shall not be recorded, but by mutual agreement is deposited with
Palmer, City Attorney. Thomas C.
fand in case the privilege of purchase hereby given is riot exercised arid file conditions hereof fully
ormed by the Purchaser and written notice of such exercise arid performance f f Y per -
before March 24 t f given !o the Seller on or
19 88, said privilege shall thereupon wholly cease (but no liability to
refund the money paid therefor shall arise), and said title insurance or abstracts altall at once be delivered
up to the Seller, arid this instrument shall at once be surrendered to file Seller for cancellation. This con-
tract shall (le btndtrlO upon arid shall entire to lite benefit of the heirs, personal representatives and assigns
of the parties hereto,
-in itrtess 10hereuf file parties hereto have hereunto subscribed their names arid affixed their seals
lite day arid year first above written,
Signed, sealed and delivered it, the presence of:
ATTEST:
....................................... ........................ ....... (SEAL) Helen B. Boone
............. ...................... ............................... ( SEAL)
Sandra Faye Cobb
CITY OF SEBASTIAN, FLORIDA
K. M. O'Halloran,City Clerk -L. Gene Harris, Mayor
•
LOOD R ' AT '1' _ . ("Seller").
��"
IT g (Phone 589 -330 "� 1,
,1 "Boyar "1, too, RQQ
r,
ry agree that the Seller shall Sell and Buyer shall buy the following property 1 "Property ") upon the following terms and conditions which INCLUDE the
tartdwds For Real Estate Transactions Set forth on the reverse side hereof or attached hereto ("Standardls) "1.
1. DESCRIPTION: (a) Legal description of Property located in _ INDIAN R V '. R County, Florida:
Har.dees Sub. !o. B PBS 9171 Lo .s ?1,' x.23,& 24 Less S. 1 Ft. of
Lot 24, Par of Abraded 1%tta� 'fly. Adjacent to Lots-21,22,23
& 24 as I R 13k. 30 -- 41 "3 �, R Bk 50 R9 462 tat k 1
r,
(b) Street address, if any, of the Property being conveyed is 1 3 1 2 CIS H j ghwa y I
10 Personal property ( "Personalty ") included:
N/A
11. PURCHASE PRICE:........ , s 00
PAYMENT: \
(a) Deposit (s)tobehetdineicrowbyCOMMRRICA TITTF CFnyTr in the amount of ,,,$ Ito QQ,QQ
(b) Subject to AND assumption of Mortgage in good standing in favor of Jv /jt,
N/A having an
approximate present principal balance of . $ 0
10 Purchase money mortgage and note bearing interest at N/A % on terms set forth herein below, in the
principal amount of . . . ,
Id► otfteradditional deposit due within 10 days of contract accep$_ 14,000.00
(e) Balance to close (U.S. cash, LOCALLY DRAWN certified or casher's check), subject to adjustments and prorations .. $ 135,000.00
III. TIME FOR ACCEPTANCE; EFFECTIVE DATE: If this offer is not executed by all parties, and the FACT OF EXECUTION communicated in writing or
telegraphically between the parties on or before 1-27-88
and the offer withdrawn and deemed null and void. The date of Contract (" Effective Date ") shall be the date when the lest one of Seller and Buyer has signed this offer.
IV. FINANCING: Is) If the purchase price or any part thereof is to be finant.�ed by a third party loan, this Contract for Sale and Purchase I "Contract ") is
conditioned upon the Buyer obtaining a firm commitment for said loam within N/A days from Effective Date, at an interest rate not to exceed N/a
term of N A years; an 96;
d in the principal amount of $ N/A Buyer will make application within N/A days from Effective Date, and use
reasonable diligence to obtain said loan. Should Buyer fail to obtain same or to waive Boyar's rights hereunder within said time, either party may cancel Contract.
lb) The existing mortgage described in Paragraph II (b) above has (CHECK (1) or 12)): (1) ❑u variable interest rate OR (2) ❑ a f axed interest rate of N /A •%
per annum. At time of title transfer some fixed interest rates are subject to increase. If increased, the rate shall riot exceed N/A 'A per annum. Seller shall,
within N/A days from Effective Date, furnish a statement from all mortgagees stating principal balances, methodot
P payment, Interest rats and status of mortgages.
It Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Seller shall promptly obtain and deliver to Buyer
all required applications and Buyer shall diligently complete and return same to the mortgagee. Any mortgagee charge riot to exceed $ N/A shall be
paid 1/2 by Seller and 1/2 by Buyer. If the Buyer is riot accepted by mortgagee or the requirements fur assumption are riot in accordance with the terms of Contract
of mortgagee makes a charge in excess of the stated amount, Seller or Buyer may rescind Contract by prompt written notice to the other party unless either party
elects to pay any increase in interest rate or excess mortgage charge. The arnount of any escrow deposits held by mortgagee shall be credited to Seller at closing.
V. TITLE EVIDENCE: Within 10 days from Effective Date, Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, in accordance with
Standard A, (CHECK (1) or (2)): (1) ❑ abstract of title OR 12) XJ title insurance cornmitrnent with tee owner's title policy premium to be paid by Seller at closing.
VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the day of 19 unless
extended by other provisions of Contract.
V11. RESTRICTIONS; EASEMENTS; LIMITATIONS: The Buyer shall take title subject to: zoning, restrictions, prohibitions and other requirements imposed by
governmental authority; restrictions and matters appeariny on the plat or uthurwiso summon to the subdivision; public utility essemonts of record (easements are
to be located contiguous to Property lines and are not more than 10 feet in width as to the rear or front lines and 7% feet in width as to the side lines, unless other -
wise specified herein); taxes for year of closing and subsequent years; assumed mortgages arid purchase money mortguges, if any; other:
OF R ]' ( O li )) ; provided, however, that there
exists at closing no violation of the foregoing and same dues not prevent use of Property fur COMM E R I CA L L I M I TED
VIILOCCUPANCY: Sailor represents that there are no occupancy p y purplosing,
parties in occu eras other than Sailer, but ro art s ratan a to a rents or occupin emend closing,
the tact and terms thereof shall be stated herein, arid the tenants) shall be disclosed pursuant to Standard F. Seller agrees to deliver occupancy of Prolwrty at time
of closing unless otherwise stated herein. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property and Personalty from date of
occupancy, shall be responsible and liable for maintenance thereof from said duce, and. shell be deemed to have accepted Property and Personalty in their existing
condition as of time of taking occupancy unless utherwi}}„'� stated herein or in separate wrting.
IX. ASSIGNABILITY: ICHECK (1) or 12)1: Buyer I1) i.l may assign OR (2) O may nut assign Contract.
pr
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions Insertud herein or attached hereto as addenda shall control all
i ,tinted
i t provisions tit Contract in conflict therewith.
XI. INSULATION RIDER: If Contract is utilized for the sale of a new residence, the Insulation Rider shall be uttached hereto and made part hereof,
X11, SPECIAL CLAUSES: (See Addendum attached hereto and rna_de a hart hereof by reference)
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.
IF NOT FULLY THIS FORM HAS BELN A PHOVED BYITF E FLORIDA ASS'UC ATION OF HEAL10liiS ANU THE FLORIDA BAR.
Approval doors not constitute an opinion rhut Oily Of the funns and conditions in tills Contract shuu/d bit accuptud by the parties in a particular lrurrsection. Terms
and conditions should be nutrulim4od busud upurr Ilia raspuctivu inturests, objectives arid baryauririy positions at all interested pursuits.
Copyright 19115 by The Florida Bar mood the Flurida Assueiattun ul HEALTOHS, Inc.
WITNESSES: (Two recommended but NOT required)
(Buyer)
Date
Date
WITNESSES: (Twu recurrunanded but NOT ruqulrud) Buyer
— (Sell@(
Date
Date
.,for)
Deposit(s) under Paragraph II received; if other than cash, then subject to clearance, By: (Escrow Agent)
9 OKER'S FEE: (CHECK & COMPLETE THE ONE APPLICABLE)
[IF A LISTING AGRELMENT IS CURHENTLY IN EFFECT):
UH Sailer agrees to pay the Broker numed below, including cooperating sub agents narnud, according tu e terms of a existing, separate listing aurebnrent;
U IF NO LISTING AGREEMENT IS Cl1HH(_NTLY IN EFFECT):
Seller agrees to pay the Broker named below, at Brno of closing, from the disbursements of the prucoeds of sale, compensation in the amount of (COMPLETE
ONLY ONE) 7 - % of gross purchase prise off $ for Broker's Services in effecting the sale by finding a Buyer ready, willing slid able to
purchase pursuant to the furuguinu Contract. In the event Buyer fails to pedurrn and dopusitls) is rutained, 50% thereof, but nut exceeding the Broker's fee above
provided, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, arid ilia balance shall be paid to Seller. It the
transaction shall nut be closed because Of refusal Of failure of Seller lu Iwrfurrn, the Sellor shall pay said tee in full to Bruker tin demand. In any litigation arising
Out of this Cuntract, cuncerning the Broker's lee, the provailing party shall be entitled to recover reasunablu attorney lees and costs.
FLOOD REALTY INC.
(firm Hams of Broker) (name Of cuupermling subagent)
By`
(authorized signatory) (Seller)
Rev 1 /B5
' • i I
hCE OF TITLE; STANDARDS FOR REAL ESTATE TRANSA�ONS
it firm) 111 An abstract of title
J purporting to be an accurate synopsis of the instruments affecting title to Property recorded in the public taco }ds of the county wherein Pro
sls of or brought current by a rrputabie and existing abstract firm (if not existing then certified as torte
,tail, through Effective Date and which shall commence with the earliest pu}ific records, or such later date as may be customary in the county. Seller
vo. I marketable title, subject only to liens, encumbrances, exceptions or quaf: 's set forth in Contract and those which shall he discharged by Seller
afore closing. Marketable title shall he determined accordjn
Upon closinp of this transaction the abstract shall become the to applicable Title S fa "aids adopted by authority of The Florida Bar and in accordance with
Property of Buyer, subject to the right of retention thereof by first mortgages until lull
,_title insurance commitment nt issued by a Florida licensed title insurer agreeing to issue to Buyer, upon recording of the deg
insurance m the arnuunt of the purchase price, insuring Buyer's title to Pro Y Paid; e
Contract and those which Shall be discharged by Seller at or hefurn closing, Buyer shall have 30 days, if abstract,
rig 5 days, if Buyer,
commitment, s policy of
Property, subject only to tens, encumbrances, exceptions or qualifications Set forth it
receiving evidence of title to examine samst. If title is found detective, Buyer
defect(s) render title unrnnrkstt4hle as to firm (1) hireinabovr or uninsurable as t0 item 121, Sells will have 120 days from receipt it notice if within from dal
i Y • shall, within 3 days therea(lstr Warily Seller in writing specifying defecom If
rriuml r ^1 Alllmon monies paid hnre(md rcWhich removing thorn
til I>rWrlurnrt 1' 1ntlRt yrr and thereultun Royer and Snllrtr ,
nhllgations under Contract; however Buyer Shall have the optiorI of either accepting the title as it Ihr.nitWOrrdeman 1i
title within the time Sells Agrrl-s that Seller will, if title is found to be unmarketable or uninsurable, use diligent effort to correct the defect(
Shall be released as In one another Of all fur
Provided therefor, including the tringinq of necessary
deliver C owner's MONEY marketability title Policy Provider) Bu el- i; V tufts. 11 a hilt potty is briny furnish0d, Royer has fhn right to require the $o.11c
R. PURCHASE MONEY MORTGAGE SECURITY AGREEMENT TO SELLER: 1 "hr purchase money note and mortgage,
thi7 it any, shall provide fora 30 day period in the event of (let, if it is ,•first mortgage. Y 1 Sys any additional charges and makes re money 4 st therefor Within 7 days after Elfoctivr Date.
part without penalty, shall not ;iti a 15 day grace period if a sncrind Or Istssnr nu)rtyape; shall provide for right of prepayment in what
Otherwise in form nnrl content requirrnd b y lSellerrs attorrte interest Adjustirimlt in avant ul resale O1 Pro )art
and seterit V; provided, however, Seller may rynly requirrn cl, usesec �rrumarilyrtftwr�itin nturtyages'rmnrtga char
V ngreernertt genn d e utilised by ravings 4nd lu "I' institutions, or state Or national hanks Iucaterl in the county whr.ren Pruporty is lucnte(I. The most(
shall rer(ulre all prior Ilan p
s and encumbrances a t)r kept in grynl standing and forbid modification
being rryoveVed will, at option of Seller, fir subject to the lien
C. SURVEY: Rover s Of or future advances under prior rnortgagc(sl. All Person
Y. al Buyer's expense, of a securilV agreement and evirlstnrrd by recorded financing
reyisterrd Florida survr.yrn. If the survey within time. W4 wild IS rinliver mvidr.ce of g statements.
Y e any ally nnt:ru %ichlnrnl nn Property fir that imprtovai�rnts intended some,
o be located on Property in last encroach on sr
T TERMITES: lands of others, or violate any gastric tail $, C"'"tracl covenants or applicabhr governmental ff.- Oulatlont, Ihfr same shall t e ttrrnterd os 4rtitlrrdnfrrt}
Pe TERMITES: Huyer, 4t Buyer's expense, within rinfo allowed to deliver nvidnnce of Lille and to rxandne s4rne, may have. s Property h shall be t inspected b th
Pest CnnVel OperA1M 10 determine of the r fhnrr IS any visible active termite infestation or visible r'xltt;nq damage from Irr Infestation pet d the iFlorida CentV
Buyer is Informed of either nr both of the fore Win Y a Florida Certil
occurs first, within which to hnvst all damages, whether visible Or ant, insprctrd and estinu'lei) hV A lita'Pud f or
Or
g q, uVer will have 4 days from dale of written notice thereof or 2 days alter Selection of A contractor, whirhe
costs Of treatment and repair of Ali damage up to 2% of purchasn price. Should such costs rxcnnd that nniount, Buyer shall have Ste option Of eller shall Cnntr
within 5 days after rrcript ryl contractor's repair estimate b fl grnernl contractor. SAI1rr shall pay v:
Buyer shall receive a credit at closing V plying written notice to Seller or Buyer may elect to proceed with ttie transaction, in which era
shall he rfeemerl to include all 9 Of an amount equal to the total of the treatment and repair estimate not in excess Of 296 nl the purchase price, "Tennis
E. INGRESS AND woad destroying organisms rnquirrd Io hr reported under the Florida Pesl Control Act.
EGRESS: $tiller warrants Ih,t there is ingress and !glass to Property sufficient for the intended use asde%cribed in Paragraph VII hereof, title.
which is in accordance with Standard A.
F. LEASES: Scllrr shall nut less than 15 days prior to closing, furnish 110 Buyer copies of all written leases and estoppel letter/ from each ten n roof I
nature nail duration of the or
iburn rack tenant, the sanfn tinformatio information I be furnished fly Salle P�ur HuYnifrwilhirlrsaid linmtpnriod in the Inrn of a e r '
Y I paid by Irnfor Io the event Seller is unable t. nbtta neslich Il'tl
G. LI t tenants to confirm such In(of"latrm. Seller shall, aI closing, rinllver and assign all ortgirt4l Iratet to Buyer.
G. LIENS: Seger sha8, both as to Property and Personalty being sold hrmundor furnish to Buyer at time of closing an of lidnsltlntteslh)q to the nhtrRilcrrunlost rhon'ryf 1
provided for herein, to any (financing statrmrnts, cl4lrns rii lien Or potential lir,nors known In Seller and further n(testiny that Shire have been nO j faPai
to Properly for 90 days immediatnl 'fh.fwi
y preceding dote of riosuul If Property has been impruvl-fl, or rnp4irnd within said time S011rr shall rlellver releases Or waivers
mechanics" liens, executed tr all gnnral contractors, subcontractors, Suppliers, and materinimen, in addition to Seller's lien affidavit sntiing forth the names of I
mrr leases nls rye very
general crynhactort, 5tlhCiln for ar5, Slrpplleri and malr'rialnlen ;Intl IUrther teritinq that in (act all hills for work lu davit
or Personally which could serve ,s a basis fr
a H. PLACE hen rig a claim far damages have been•paid or will he pain at closing. nil suf
H. PI_ACF OF CLOSING: Closing shall be bald in the rrwnty wherein Property
J't TIME: Time is of the estrnre nl his Contract. Time prnuds herein of lets thesis ldaysed,alt tire of five Of f ittitrrntorneylor other closing a t nt/ designated by Seller.
- firer period provided for brain which shall end un Saturday, Sunday Or legal holiday shall extend to 5!OU
J• DOCUMENTS FOR CLOSING; Seller shell furnish lend, bill Of Vile, nierlinnic's lien affidavit, assigmmnnts Of Ifiasrs, and any corrective instnq T fotdays, an
ter required in connectiOir with P.m. of the next business day,
perry :tam the title. Buyer shrill furnish Mating ttaternenl, murfgagr, morigagrr mote., security agreement, and financing stafemrots.
K. EXPENSES: Stntr, cost sec stamps which air rstyuirrd fO he affixed try fist, instrument of cnnveym,rr, intangible tax on and rrcurtling of purchase moor.
its that ma
nuirlga• ►r l0 Seller, and cost nl recnMin
L. of recording s any corrective bet aidfl R shall be paid by Scllrr, Documenlnly stamps to he affixed to the purchase money mnrtgapr
rise, deed mid linanrin9 statrmrnts shall fie
L. PROBATIONS: T,xns, assetsmcnts, ern(, interest, insurance and a her expenses and revenue of Propr.rly shall be pror,ted throat h da
shall have file option of taking river any existing policies of insurance art Property, it assumable, in which event premiums shall be increased or drerrosrrf as may he required by said prorattnns. All prnralo Pr will y, if
throw h da 1 Y prior to closinp. Ruye
shall he n the baud on the current years Sex with due Allriwnnre matte for maxtnfun ailowal,fe discount, hnmCuPilo And ocher oncy fed. Cash at closing shalt o
date whin ) y Prior to occupancy it orruponcy Oceurt before closing. fist, current yrtnr s millagm y Ilot ll %ell, AIIfI current 9. Taxi
niinnye.
If current Year's l it assettrnrn t year's assessntl-nt is availahlst Ptions. It tinting occurs at I
t is not availAhl::, then rnxet will tin prnrororl no the taxes will list proralerl based upon such assessment and the
Property by January lit of year of c1n"in print ymnr•s tax; provided, however, if there ern cOmpletrd improvernenisaor
Prior year's n,illaga And of no ryuitable assessment to he agfeed upon hetwer. Thr. parties, failing which, request will he m
g, which irnprovenumts wrr not in existence on January 1st nl the• prior year, then taxes shall he pr0nrtod based upon tM
an informal 8%sessrnnn( takinq into considrntion exemptions, it fin
readlusled upon receipt of lax bill on Y Any tax proration hntl-rl on nn mttimatr eta ads to the Cuuflry Property Appraiser foi
M. SPECIAL ASSESSMENT LIENS: condition that n statement to that milrct is in the rlospry $, no
tit, y At request of either Btryrr or Seller he Snbseque'tly
by Seller. Prrnding liens as of date of CI Singisfi ilrbe AissunIa j yffluylnd special as essment'IMF's it
flail date Of closing has biro
fJatr, sur.h of 01sq lien shall be considered as cstr[ili0rl, confirmed or ratified and Seller shall, at closiny, bsl chargd ,boon s amount equal to life 0 of a fe Ste
lwhljc body ur atsestfnstnt for N,st IlTIpfOVefTlrtnl. /Ul)SlgIIIIAIIy cr/mplelNJ a$ Ui EifeCIlVc
N. INSPECTION; REPAIR AND MAINTENANCE;
have any visible evidence, of leaks or darnallr and that tire septic tanks, fill,)', all major appliances, prior heath
10 days prior to clnsinq, the roof (including the fascia and Solfihl and walls do not
walking condition. Huynr may, at Buyer's expense, have, inspection .fade Of
maintenance thereof and shall sport in writing to Seller such itrtrns lfnln dry not meet they all rnprnseatal(i �In� together Poison dePlumbing s I the c s and machinery are in
said Ile by an apprnpiintelV licensed person Steeling In the construction, repair earl
occupancy Or not last than 10 days Prior to closiny, whichever Occurs first. Uf less Buyer reports such deficiencies within said period Buyer shall be deemed to hAve
waived Snllnr's rrprnsent4UOns as to rlefidflo jes nut re•pritiml. In the event repairs or replarnrnnnts are required, Scllrr shnil tiny the up(tol3 of %of the pugrchase price rfor
such repairs or repinrnrnnnts hV an epprOPrtaurly Ilcslnaed
Selig may elect to p;ly such excess, failing which either p;ulysnmylca cal this Cunt cost for lit ti he eve nliSellr.rrrstunnbinrtO rurrecl 396 of the purchase price, Buyer Or
rust Ihrrrof shell he paid into escrnw at closing, Snllnr agrnrt In pruvirin utith0s Srrvirn for In /por.liir'is u on re
r,h)sinq, Seller shall mn,nfatn Property and Personally Includtnl but not Ilmilerl lo the Inwn &nr) shrtihhar he deficiencies prior try closing, the
War excnpled. Buyer shrill he pnrmille(1 p pSOn4hle notice. Betwer.n Fllrctive Date and file
O. RISK OF OS ucr,•ess Iar insprctiun ul Flo �ort y, in the conditinn herein represented, ordinary wftnr and
L )irS: I1 I r! f Y prior lu r,lutog in attic lu cunlir"r (;011l llanrn hnrnwilh.
t i nnproveinnnt9 lire d;unngr'fl, ty lift! ur other c4sunity print In closin
cost hurt of the intprnvrntiinli su dnmogod, cost ul r05tui atini 311411 hr! An utljpntiun nl the , ^,�
cost rhnrn(or n IL aril rolls of all prinll tame dual not exceed 3% of the 4ssst$trd
scrof efi n( r,Iosing. In the event fhr cast of rrpno or resluraLine excrst Ile, and r.lusing shell prucrrt.► pursunnt to Ilia term of
have Ihn nphon o1 riilior takinq Property ny i4, Iuq "Ili „r wilt either Ilir said J "!, nr any in. 1)f h r pressed lunti l" 1, $ Contract with
ds ill ,1 rte assnssnd v,rluntiu'n 01 the ilnprovrnuints so (Inmeged, Royal shall
telling Cuntrncr And rrrniving roturn OI depn,it(,) roniff. hrrnunrlrr.
P. PROCFriDS OF SALE_ CLOSING PROCLDUIIF_: The. "rail shall be recorded upon tlearmnr,0 0l funds end avldelcn of tit a lost or
damayn, or of can. axlNinsr
to "tow title in Buyer, withoul art anrunntlaricn% or chnr! n
Of the tall- shelf tie held u1 escrow h would rstnrlr Snllru's Ste
11 whi,;h urun rkr
y Snllnr'$ ntlnrnst _ n latee Irom the dnle o1 the lost rvidrnce, nail the proceeds
and after closing darn, If Seller's fill” Is rnndnrnd unm4rknlr, I,Ir't f{uVerrStall, wlltjn said !i 114 0
ain sj d nrav bo Mutually period, n Aprnert upon for o period u1 not longer than 5 days from
(leflnyt front daft of d its Of su(:h n "tilit:A Lion Sri note Said dflfe.ct In Ihn "vnnl Scllrr fails to tirrml
ln)nd tl,fnrfn and within 5 dny5 thnrnnitrf, bn rnfuroerl in 13uyrr nnrl y pain", nnitly „alter to writing Of the rlelnct And Sailer 111811 have 30
V cu:r 5uid (in act, all mnnlet paid linfnilrrl)er shelf, upun written
rtlrf by "t,nuAl warranty drr.d nail ern ilnnit4nnutisly With plch reptivoleit, Hover 511411 varrstn Property end rrconve
against Sell"( ten Personalty, In Ihn nvenl Buyef t,�rls to stake lirnrl
at to such inlrrvnnmfl defect rxCr ,1 V SamR to
1 lit ni :sty hr• ,rv4rinhlr In Buyer by virtue of w.nr(antnt'lllany9cnfnainednin th0ldnn 1 ^Inithm avant aPurtlrrihfofgtl'o
► ... r,:hisr prism is to bn derived (rain institutional fionnr.in
c loyL'1, '-'fill for rlrsbfirsornen Of mar( g or relnnenctlq, the rerlrilrente.nls of the I"rnrlirt ins0tutlr i
fl-1v" fire flnyr pr 1%litoS, Shall cantof, onylhnn ern flu if " lit to plane, lime nl day and hat S uret for
Hybl ern rertonr 11nfn t,n:h Irnrtnl instituhnr lit tlesnif 1 t Cnnlract Iry Ihn contrary nutwilhttnndinq 1'rovulnd, howevf r
rlrlrcl nitnhulAhle In Iluyri mnlhln.lu, The escrow ,,)(I cln:uu► (,ror:erlure n!t►oirrd by this Siemer" may tin walverl in Ihr sty f , till Seller title
1 a urnvnflnvntt Ihdt y will oat withheld d;Sbu lvpd io it innlg4ge (trOr,F,edS .15 a IetUlt frI ;lay title
I
ngrnt insures nyamsl 4dveru not (- peoI.ant fn Srr,ton (;J7.1f {41, t S I I�R; 1, as nrnenthvl.
o.
ESCROW' any ru.rnw nr rnl l-nl the attorney, title orient or closnrq
"Srrgw and, tut ncI to r In, 1 ( "Agent ") r"r,onvrnq lundt er a,luwolnot is foll'orvrd !'III nfIfee% Iry acceptance thereof to dlPOSd pronq)Uy and to hold same in Faill,le Of i %anti!, In flrsturs•1 snote it, 4cruiflance with turn %,v,d condilinnt of (;nnlr4r.
Iry Buynr. In Il,r event (If doubt as try Aynni'S "Mies or iiut,hileh undrn Ihr pruvlfiont ul this Cnnlrnfa, n, "nl rna
subje, t n�nitei ul Ih15 rt"rlgw until Ihr pnrlirt rnutualty ngrf!e le Ihr ft"tur •,"1110111 tholrof, or milii it lrirl,loino 1 A conllrnl off f l"irls shall not oxruu performance
Stir „yhta lit the pal tins therrttn, or Ago mny (Impost t4n1e wtlh Ihr cD•rk el fhn rin:uil roof t haven 1 V• m ntlstrrf'S $nlo discretion, cunfinue In hold fhn
cuncernr;d of such action, all 1lnbill polnof jiorsr /iclian %hall dnlrmine
tY ern Ihn part of Apart shall fully tnrnunctn, except tO the exiling Of accuunirnq for any nitamsrtrheretoforetdelivered out 01-affifts
escrow. It a lirnnSrtrl real estate broker, Apnn1 will corn rl
$rllnr whslreln Agent Is made a f Y with provisions of Chanter 4/6, F.S. (198;1), ns amended In the event of any suit bntwren Buynr and
party by virtue Of actin
Agent $hall be nnlithed to recover teasunahle ati.roey's Islas and costs incurred, seld fens and ousts to be charged nail assessed le court ousts i l laver of the rescro
g lit Apnnt hreunrinr, rye In Ilia event O1 any suit whermin Aprnf In tnrplsedc the subjnct rnAltar of this A /rfnW,
party. All parties Dante That Agent shall nil be "able to any party Or por%on whomsoever for inisdnlivory 10 Buyer or Seller of items subjnct Iu this escrow, unless
such mlSdellverY shall ha due to wlllftl breach of this Contract or gross nslgllgmoce on the part of Agent, p g
R. ATTORNEY FEES; COSTS! In any iltlpatlon arising out ul Contract, Ilia Prevailing S. FAILURF. OF PERFORMANCE: If Buyer fells to gparty shall tie iintrtledto recover reasonable attorney '/ fees andco5ts.
Feld by Buyer may be rntn oil by or for the account of Seller no 11(luid&Ie tide tt(ns h olnslrlrloU "nl for loch ding Payment
l n t Of all
Contract its el- under ), the deposit(s) it(s)
Sollar''s IAgel rights untderrIt"slContract. If,
overt fit othrrlrllh&io#1s lure o1Cnotro to snake lfff, at't title moptrttnblmtnitnr 1 oily
Y Mowed of few or Seller equity to enforce
for ag s resOm Ilttt Contract, the Buyer may seek spftctfjc perlurmance or elect to receive tiro return of Huyrr's rlapo/it($) without thereby Waiving any action
for dArriapnt rr.$ullhtp born Snllnr'/ brooch, dd pant ellort, Seller I&ilt, neglects or
T. CONTRACT NOT I1F.CORDARLE; PERSONS ROUND; NOTICE: Neither this Cnnlrnrt nor any 'Police tbermof $hall he recorded hr an
Conterr Shall hhul find Inure In film hen"111 Of Ihr parties hnrrtf, end their /urrmstor$ In Intnrnsl. Whm"evnr the conrexl prrriclts, singular shall Inchurdn plaint anti line
gentler $hail Include ail. Notice given by or to the niturne lot an Y public records. This
U. CONVEYANCE: Scllrr shall convoy tltlfi to Property Y h Y party shall big o/ allective as if pivrn by or to said tinily.
Se11ar, subject only to matters contained In Paraqraph VII hereof and those otherwise accepted hy representative Bye. Personalty shall, AI rot u
Absolute bill of safe with warranty of title, subjnct to such "'&finis as may be otherwise provide) for hrrern. puarrlian dyad, as appropriate to the status of
V. OTHER AGREEMENTS: J st of Buyer, fx conveyed by an
No prior or present ngrestments or represrntal,onf Strait be btndn,J upon Buyer Or Sailer unless included in this Contract. No modification
or change (ern fhn Conrra(:t shall ter vat" or bindnq ')poll fhe part'"s lullr55 in wrong and executed by the party nr nn.rrr.. s._ .._..._ .
SEMINOLE FORM x
EXCLUSIVE LISTING AGREEMENT
Date: NOVEMBER 1986
1. In consideration of your agreement to list and to use your efforts to secure a purchaser for the property
described as:
6 - -i1- 59 -00110 -s- 0010- 00021.0
HARDEES SUB. LOTS 27,22,23 & 24 LESS S. 1 ft OE LOT 24 & PART OF ABANDONED
AH LY WLY. & ADJ. TO LOTS 21,22,23 & 24 BLOCK 1
I hereby give you for a period of TWELVE months from this date (and thereafter until this agreement is
revoked by ten day's written notice delivered to you), the sole right and authority to find a purchaser for the
above described property at the following price and terms, or at any other price and terms acceptab!e to me:
Price: -- Terms: WILL BE CONSIDERED
�V Vie. ,2S - /Y?
Interest on encumbrances, taxes, insurance and rents shall be adjusted prorata at date of closing. Improvement
liens are to be paid by me.
2. In case you sere a purchaser for the property, the usual and customary practice for the examination, curing
title and for closing the transaction shall apply. I agree to deliver to the purchaser a good and sufficient war-
ranty deed, free and clear of all liens and encumbrances except encumbrances of record and those which the
purchaser shall assume as part of the purchase price and which are specifically detailed above.
3. For finding a purchaser for the above property:
A. I agree to pay you a commission of TEN 96 of the sales price.
B. The commission is to be paid whether the purchaser be secured by you or me, or by any other person,
at the price and upon the terms mentioned or at any other price or terms acceptab!e to me; or if the
property is afterwards sold within three (3) months from the termination of this agency, to a purchaser
to whom it was submitted by you, or a co- operating broker during the continuance of the agency, and
whose name has been disclosed to me.
C In any exchange of this property, permission is given you to represent and receive commission from both
parties.
4. In consideration of this exclusive listing, you agree:
A. To carefully inspect my property and secure complete information regarding it.
B. To direct the concentrated efforts of your organization in bringing about a sale.
C. To advertise my property as you deem advisable in the local newspapers or other mediums of merit.
5. In consideration of the above, I agree to refer to you all inquiries of brokers or others interested in my property.
6. As my agent, you are authorized to accept, receipt for and hold all money paid or deposited as a binder
thereon and if such deposit shall be forfeited by the prospective purchaser, you may retain one -half of such
deposit, but not exceeding the total amount of your commission, as your compensation.
7. 1 understand that this agreement does not guarantee the sale of my property, but that it does guarantee that
you will make an earnest and continued effort to sell same until this,agreement is terminated.
O..WNEfr i
d�SANDRA FAY[ COBB
HELEN B. BOONE
ACCEPTED BY: SALESM� -Nr- -,
LAMBERT REAL ESTATE, INC.
The words "1 ", "MY" or ,, "Mr" shall be considered plur 'hen applicable. �� 3 �.
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L. Gene Harris
Mayor
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City of Sebastian
POST OFFICE BOX 780127 ❑ SEBASTIAN, FLORIDA 32978 -0127
TELEPHONE (305) 589 -5330
December 30, 1987
TO: Sebastian City Council Members
FROM: Mayor L. Gene Harris _:2
Kathryn M. O'Halloran
City Clerk
Please review the attached proposed contract for sale of the
property adjacent to the Chamber of Commerce on U.S. Highway #1.
This is not an agenda item for Wednesday, 1/6/88 Workshop Meeting,
but if the City Council wishes we can add it to the agenda for
discussion and action.
Thank you. /
LGH /jmt / D t� A O
Attachment
bdU Flo g �
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75
LS
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aq C)1 �_
PARTIES: HhLLtN b. U 1V —5 , ( "Seller "),
of FLOOD REALTY I (Phone 589 -3303 1,
and _ CITY OF SEBASTIAN , ("Buyer "),
of (Phone 589 -5330 ),
hereby agree that the Seller shall sell and Buyer shall buy the following property ( "Property ") upon the following terms and conditions which INCLUDE the
Standards For Real Estate Transactions set forth on the reverse side hereof or attached hereto ("Standard (s)").
1. DESCRIPTION: (a) Legal description of Property located in INDIAN RIVER County, Florida: .
Hardees Sub. No. B PBS 4174 Lots 21,22,23,& 24 Less S. 1 Ft. of
Lot 24, Part of Abnded Alley Wly. & Adjacent to Lots 21,22,23
& 24 as I R Bk. 30 pp 413 & R. Bk. 50 DD 462 Blk. 1
(b) Street address, if any, of the Property being conveyed is 1312 US H j_cfhway 1
(c) Personal property ( "Personalty ") included:
N/A
11. PURCHASE PRICE: ............................................................ $ 150_r 000.00
PAYMENT:
(a) Deposit(s) to be held in escrow by COMMERICAL TITLE SERVICES INC_ in the amount of ... $ 11000.00
(b) Subject to AND assumption of Mortgage in good standing in favor of N/A
N/A having an approximate present principal balance of . . . $ 0
(c) Purchase money mortgage and note bearing interest at N/A % on terms set forth herein below, in the
principal amount of . . . ... .. .. .. .. . . . . .. .. . . . . . . ..... ........ . .. ...... ... . ... $ 0
(d) Otheradditional deposit due within 10 days of contract accepS 14,000.00
(e) Balance to close (U.S. cash, LOCALLY DRAWN certified or casher's check), subject to adjustments and prorations . . $ 13 5 , 000 . 00
III. TIME FOR ACCEPTANCE; EFFECTIVE DATE: If this offer is not executed by all parties, and the FACT OF EXECUTION communicated in writing or
telegraphically between the parties on or before 1 —27-88 , the aforesaid deposit(s) shall be, at option of Buyer, returned to Buyer
and the offer withdrawn and deemed null and void. The date of Contract ( "Effective Date' ") shall be the date when the last one of Seller and Buyer has signed this offer.
IV. FINANCING: (a) If the purchase price or any part thereof is to be financed by a third party loan, this Contract for Sale and Purchase ( "Contract ") is
conditioned upon the Buyer obtaining a firm commitment for said loan within N/A days from Effective Date, at an interest rate not to exceed N/a %;
term of N/A years; and in the principal amount of $ N/A . Buyer will make application within N/A days from Effective Date, and use
reasonable diligence to obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, either party may cancel Contract.
(b) The existing mortgage described in Paragraph 11(b) above has (CHECK (1) or (211: (1) ❑ a variable interest rate OR (2) ❑ a fixed interest rate of N/A %
per annum. At time of title transfer some fixed interest rates are subject to increase. If increased, the rate shall not exceed N/A % per annum. Seller shall,
within N/A days from Effective Date, furnish a statement from all mortgagees stating principal balances, method of payment, interest rate and status of mortgages.
If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Seller shall promptly obtain and deliver to Buyer
all required applications and Buyer shall diligently complete and return same to the mortgagee. Any mortgagee charge not to exceed $ N/A shall be
paid 1/2 by Seller and 1/2 by Buyer. If the Buyer is not accepted by mortgagee or the requirements for assumption are not in accordance with the terms of Contract
or mortgagee makes a charge in excess of the stated amount, Seller or Buyer may rescind Contract by prompt written notice to the other party unless either party
elects to pay any increase in interest rate or excess mortgage charge. The amount of any escrow deposits held by mortgagee shall be credited to Seller at closing.
V. TITLE EVIDENCE: Within 10 days from Effective Date, Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, in accordance with
Standard A, (CHECK (1) or (2)): (1) ❑ abstract of title OR (2) M title insurance commitment with fee owner's title policy premium to be paid by Seller at closing.
VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the day of 19 , unless
extended by other provisions of Contract.
VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: The Buyer shall take title subject to: zoning, restrictions, prohibitions and other requirements imposed by
governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are
to be located contiguous to Property lines and are not more than 10 feet in width as to the rear or front lines and 7Y. feet in width as to the side lines, unless other-
wise specified herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money mortgages, if any; other:
OF RECORD ; provided, however, that there
exists at closing no violation of the foregoing and same does not prevent use of Property for COMMERICAL LIMITED purpose(s).
VIII.00CUPANCY: Seller represents that there are no parties in occupancy other than Seller, but it roperty is intended to be rented or occupied beyond closing,
the fact and terms thereof shall be stated herein, and the tenant(s) shall be disclosed pursuant to Standard F. Seller agrees to deliver occupancy of Property at time
of closing unless otherwise stated herein. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property and Personalty from date of
occupancy, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted Property and Personalty in their existing
condition as of time of taking occupancy unless otherwise stated herein or in separate writing.
IX. ASSIGNABILITY: (CHECK (1) or 121): Buyer (1)-Yl may assign OR (2) ❑ may not assign Contract.
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as addenda shall control all
printed provisions of Contract in conflict therewith.
XI. INSULATION RIDER: If Contract is utilized for the sale of a new residence, the Insulation Rider shall be attached hereto and made part hereof.
XII. SPECIAL CLAUSES: (See Addendum attached hereto and ma_de_a part hereof _by_reference)
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.
IF NOT FULLY UNDERSTOOD. SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a particular transaction. Terms
and conditions should be negotiated based upon the respective interests, objectives and bargaining positions of all interested persons.
Copyright 1985 by The Florida Bar and the Florida Association of REALTORS, Inc.
WITNESSES: (Two recommended but NOT required)
— — — — — — — — — — —
Date
Buyer
Date
Buyer
WITNESSES: (Two recommended but NOT required)
Date
Seller
—r ?_- — �. - -- >✓��;�� �/. Date
eller
Deposit(s) under Paragraph I I received; if other than cash, then subject to clearance. By: (Escrow Agent)
OKER'S FEE: (CHECK & COMPLETE THE ONE APPLICABLE)
(IF A LISTING AGREEMENT IS CURRENTLY IN EFFECT):
OR Seller agrees to pay the Broker named below, including cooperating sub - agents named, according to the terms of an existing, separate listing agreement;
❑ (IF NO LISTING AGREEMENT IS CURRENTLY IN EFFECT):
Seller agrees to pay the Broker named below, at time of closing, from the disbursements of the proceeds of sale, compensation in the amount of (COMPLETE
ONLY ONE)-2--2°/u of gross purchase price OR $ for Broker's services in effecting the sale by finding a Buyer ready, willing and able to
purchase pursuant to the foregoing Contract. In the event Buyer fails to perform and deposit(s) is retained, 50% thereof, but not exceeding the Broker's fee above
provided, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall be paid to Seller. If the
transaction shall not be closed because of refusal or failure of Seller to perform, the Seller shall pay said fee in full to Broker on demand. In any litigation arising
out of this Contract, concerning the Broker's fee, the prevailing party shall be entitled to recover reasonable attorney fees and costs.
FLOOD REALTY INC.
(firm name of Broker) (name of cooperating sub - agent) (Se llqi�l
By:
(authorized signatory) (Seller)
Rev. 1/85
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ME Ot PFl ICPM �9��
City of Sebastian
L. Gene Harris POST OFFICE BOX 780127 ❑ SEBASTIAN, FLORIDA 32978 -0127
Mayor TELEPHONE (305) 589 -5330
December 30, 1987
TO: Sebastian City Council Members
FROM: Mayor L. Gene Harris'�j
Kathryn M. O'Halloran
City Clerk
Please review the attached proposed contract for sale of the
property adjacent to the Chamber of Commerce on U.S. Highway #1.
This is not an agenda item for Wednesday, 1/6/88 Workshop Meeting,
but if the City Council wishes we can add it to the agenda for
discussion and action.
Thank you.
LGH /jmt
Attachment
t,.U1V 1 MAIL, 1 1-Uti JALL ANU YUHt;HASL
PARTIES: COBB ( "Seller "),
of FT nQ11 REALTY T T(` (Phone 9AC) JJn*1 ),
and CTTY nF SFRASTTAN ( "Buyer "),
of (Phone 589- 51'3O 1,
hereby agree that the Seller shall sell and Buyer shall buy the following property ( "Property ") upon the following terms and conditions which INCLUDE the
Standards For Real Estate Transactions set forth on the reverse side hereof or attached hereto ( "Standard(s) ").
I. DESCRIPTION: (a) Legal description of Property located in INDIAN R T VFR County, Florida:
HARDEES SUBDTVTSTON_ No R PBS 4174 To s 1 & 24, 1 ss thp
So 00t of lot 24, as an abandon 4 all yway and adjacent
to lots 21 , 22,23 and 24, as in T R book 30, pagers 413 and R book 50,
StrPet address U.S. Highway No 1 Sebastian
(b) Street address, if any, of the Property being :;onveyed is
(c) Personal property ( "Personalty ") included:
N/A
11. PURCHASE PRICE: . . ... ... .. . . . .. .. .. .... .. .. . . .. .. .. ... . .. .. . . . . .. ... . .. . . ... $ 150,000
PAYMENT:
(a) Deposits) to be held in escrow by COMMF.R T AT, TT TT F RV TCR TN in the amount of ... $ 1,000
(b) Subject to AND assumption of Mortgage in good standing in favor of N/A
N/A having an approximate present principal balance of . . . $ 0
(c) Purchase money mortgage and note bearing interest at 8 . 5 % on terms set forth herein below, in the
principal amount of . MORTGAGE. WILL. BE. .HELD. .BY. OWNER .................... $ 75,000
(d) otheAdditional deposit due within 10 days of contract accep.$_ 14,000
(e) Balance to close (U.S. cash, LOCALLY DRAWN certified or casher's check), subject to adjustments and prorations . . $ 60,000
Ill. TIME FOR ACCEPTANCE; EFFECTIVE DATE: If this offer is not executed by all parties, and the FACT OF EXECUTION communicated in writing or
telegraphically between the parties on or before 3 -9 -88 , the aforesaid deposit(s) shall be, at option of Buyer, returned to Buyer
and the offer withdrawn and deemed null and void. The date of Contract ( "Effective Date ") shall be the date when the last one of Seller and Buyer has signed this offer.
IV. FINANCING: (a) If the purchase price or any part thereof is to be financed by a third party loan, this Contract for Sale and Purchase ( "Contract ") is
conditioned upon the Buyer obtaining a firm commitment for said loan withinN /a days from Effective Date, at an interest rate not to exceed 8 •596;
term of 1 years; and in the principal amount of $- 75,000 Buyer will make application within N A days from Effective Date, and use
reasonable diligence to obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, either party may cancel Contract.
(b) The existing mortgage described in Paragraph I I (b) above has (CHECK (1) or (2)): (1) ❑ a variable interest rate OR (2) Lga fixed interest rate of 8.5 %
per annum. At time of title transfer some fixed interest rates are subject to Increase. If Increased, the rate shall not exceed 8.5 % per annum. Seller all,
within N/A days from Effective Date, furnish a statement from all mortgagees stating principal balances, method of payment, interest rate and status of mortgages.
If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Seller shall promptly obtain and deliver to Buyer
all required applications and Buyer shall diligently complete and return same to the mortgagee. Any mortgagee charge not to exceed $_�/A shall be
paid 1/2 by Seller and 1/2 by Buyer. If the Buyer is not accepted by mortgagee or the requirements for assumption are not in accordance with the terms of Contract
or mortgagee makes a charge in excess of the stated amount, Seller or Buyer may rescind Contract by prompt written notice to the other party unless either party
elects to pay any Increase in interest rate or excess mortgage charge. The amount of any escrow deposits held by mortgagee shall be credited to Seller at closing.
V. TITLE EVIDENCE: Within 20 days from Effective Daie, Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, in accordance with
Standard A, (CHECK (1) or (2)): (1) ❑ abstract of title OR (2) KI title insurance commitment with fee owner's title policy premium to be paid by Seller at closing.
VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the 8 day of April 1g 88 , unless
extended by other provisions of Contract.
VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: The Buyer shall take title subject to: zoning, restrictions, prohibitions and other requirements imposed by
governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are
to be located contiguous to Property lines and are not more than 10 feet in width as to the rear or front lines and 71/2 feet in width as to the side lines, unless other-
wise specified herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money mortgages, if any; other:
nF R Fr`nRTI ; provided, however, that there
exists at closing no violation of the foregoing and same does not prevent use of Property for COMMERICAL LIMITED purpose(s).
VIII.00CUPANCY: Seller represents that there are no parties in occupancy other than Seller, but if Property is intended to be rented or occupie eyond closing,
the fact and terms thereof shall be stated herein, and the tenant(s) shall be disclosed pursuant to Standard F. Seller agrees to deliver occupancy of Property at time
of closing unless otherwise stated herein. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property and Personalty from date of
occupancy, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted Property and Personalty in their existing
condition as of time of taking occupancy unless otherwise stated herein or in separate writing.
IX. ASSIGNABILITY: (CHECK (1) or (2)): Buyer (1) V may assign OR (2) ❑ may not assign Contract.
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as addenda shall control All
printed provisions of Contract in conflict therewith.
XI. INSULATION RIDER: If Contract is utilized for the sale of a new residence, the Insulation Rider shall be attached hereto and made part hereof. '
XII. SPECIAL CLAUSES: (See Addendum attached hereto and ma_de_a part hereof _by_reference)
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.
IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a particular transaction. Terms
and conditions should be negotiated based upon the respective interests, objectives and bargaining positions of all interested persons.
Copyright 1985 by The Florida Bar and the Florida Association of REALTORS, Inc.
WITNESSES: (Two recommended but NOT required) CITY OF -SEBASTI -A IDA
Date
(Buyer
Date
WITNESSES: (Two recommended but NOT required) (Buyer)
Date
S q
Z Date
-tSeller)
Deposit(s) under Paragraph 11 received; if other than cash, then subject to clearance. By: (Escrow Agent)
BROKER'S FEE: (CHECK & COMPLETE THE ONE APPLICABLE)
(IF A LISTING AGREEMENT IS CURRENTLY IN EFFECT):
OR Seller agrees to pay the Broker named below, including cooperating sub - agents named, according to the terms of an existing, separate listing agreement;
❑ (IF NO LISTING AGREEMENT IS CURRENTLY IN EFFECT):
Seller agrees to pay the Broker named below, at time of closing, from the disbursements of the proceeds of sale, compensation in the amount of (COMPLETE
ONLY ONE) 7 . 2 % of gross purchase price OR $ for Broker's services in effecting the sale by finding a Buyer ready,. willing and able to
purchase pursuant to the foregoing Contract. In the event Buyer fails to perform and deposit(s) is retained, 50% thereof, but not exceeding the Broker's fee above
provided, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall be paid to Seller. If the
transaction shall not be closed because of refusal or failure of Seller to perform, the Seller shall pay said fee in full to Broker on demand. In any litigation arising
out of this Contract, concerning the Broker's fee, the prevailing party shall be entitled to recover reasonable attorney ee an costs.
FLOOD REALTY INC.
(firm name of Broker) (name of cooperating sub - agent) (Sella p i
By'
(authorized signatory) (Seller)
Rev. 1/85
UUM I KAU I PUI/ aALr Alvu runwi^ae
PARTIES:.. HELLEN 'B. BOONE &SANDRA FAYE COBB ,{ "Sa11�►'.'),
of FLOOD REALTY IN(7 "' 70h6ne 589 -3303
and OF SEBASTIAN •t.,- pf"Buyer „),
of . „
' IPhone 589- 5330 "'),
hereby agree that the Seller shall sell and Buyer shall buy the following property ( "Property ") upon the following terms and conditions which INCLUDE the
Standards For Real Estate Transactions set forth on the reverse side hereof or attached hereto ("Standard (s)") r, .
1. DESCRIPTION: (a) Legal description of Property located in INDIAN RIVER County, Florida:: ,.
Hardees Sub. No. B PBS 4174 Lots 21.22.23,& 24 Less'S 1 Ft of
Lot 24, Part of Abnded Alley Wly. & Adjacent to Lots 21.22,23
& 24 as' I R Bk. 30 DD 413 & R Bk. 50 pp 4Q2 Blk. 1
(b) Street address, if any, of the Property being conveyed is 1312 US Hiclhway 1
(c) Personal property ( "Personalty ") included:
N/A
11. PURCHASE PRICE: ... * .................. ......... ........................... $ 150 000, OO
PAYMENT:
(a) Deposit(s) to be held in escrow by COMMERICAL TITLE SERVICES INC- in the amount of $ ' 1,000.00
(b) Subject to AND assumption of Mortgage, in good standing in favor of N/A
N/A having an approximate present principal balance of ... $ 0
A '
(c) Purchase money mortgage and note bearing interest at N/A % on terms set forth herein below, in the
principal amount of . . ... . .... .. .. .. . . .. .. . . . . .. .. . . . .. . ...... .. ...... ....... $ 0
(d) Otheradditional deposit due within 10 days of contract accem 14,000.00
(e) Balance to close (U.S. cash, LOCALLY DRAWN certified or casher's check), subject to adjustments and prorations .. $ 135,000-00
111. TIME FOR ACCEPTANCE; EFFECTIVE DATE: If this offer is not executed by all parties, and the FACT OF EXECUTION communicated in writing or
telegraphically between the parties on or before 1-27-88 , the aforesaid deposit(s) shall be, at option of Buyer, returned to Buyer
and the offer withdrawn and deemed null and void. The date of Contract ( "Effective Date ") shall be the date when the last one of Seller and Buyer.has signed this offer.
IV. FINANCING: (a) If the purchase price or any part thereof is to be financed by a third party loan, this Contract for Sale and Purchase ("Contract") is
conditioned upon the Buyer obtaining a firm commitment for said loan within N/A days from Effective Date, at an interest rate not to exceed N/a %;
term of N/A years; and in the principal amount of $ N/A . Buyer will make application within N/A days from Effective • Date, and use
reasonable diligence to obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, either party may cancel Contract.
(b) The existing mortgage described in Paragraph I I (b) above has (CHECK (1) or (2)): (1) ❑ a variable interest rate OR (2) ❑ a fixed interest rate of N/A , %
per annum. At time of title transfer some fixed interest rates are subject to increase. If increased, the rate shall not exceed N/A % per annum. Seller shall,
within N/A days from Effective Date, furnish a statement from all mortgagees stating principal balances, method of payment, interest rate and status of mortgages.
If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Seller shall promptly obtain and deliver to Buyer
all required applications and Buyer shall diligently complete and return same to the mortgagee. Any mortgagee charge not to exceed $ N/A shall be
paid 1/2 by Seller and 1/2 by Buyer. If the Buyer is not accepted by mortgagee or the requirements for assumption are not in accordance with the terms of Contract
or mortgagee makes a charge in excess of the stated amount, Seller or Buyer may rescind Contract by prompt written notice to the other party unless either party
elects to pay any increase in interest rate or excess mortgage charge. The amount of any escrow deposits held by mortgagee shall be credited to Seller at closing.
V. TITLE EVIDENCE: Within 10 days from Effective Date, Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, in accordance with
Standard A, (CHECK (1) or (2)): (1) ❑ abstract of title OR (2) X) title insurance commitment with fee owner's title policy premium to be paid by Seller at closing.
VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the day of 119, unless
extended by other provisions of Contract.
VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: The Buyer shall take title subject to: zoning, restrictions, prohibitions and other requirements imposed by
governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are
to be located contiguous to Property lines and are not more than 10 feet in width as to the rear or front lines and 7% feet in width as to the side lines, unless other-
wise specified herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money mortgages, if any; other:
OF RECORD ; provided, however, that there
exists at closing no violation of the foregoing and same does not prevent use of Property for COMMERICAL LIMITED purpose(s).
VIII.00CUPANCY: Seller represents that there are no parties in occupancy other than Seller, but if Property is intended to be rented or occupie eyond closing,
the fact and terms thereof shall be stated herein, and the tenant(s) shall be disclosed pursuant to Standard F. Seller agrees to deliver occupancy of Property at time
of closing unless otherwise stated herein. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property and Personalty from date of
occupancy, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted Property and Personalty in their existing
condition as of time of taking occupancy unless otherwise stated herein or in separate writing.
IX. ASSIGNABILITY: (CHECK (1) or (2)): Buyer (11X1 may assign OR (2) ❑ may not assign Contract.
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as addenda shall control all
printed provisions of Contract in conflict therewith.
X1. INSULATION RIDER: If Contract is utilized for the sale of a new residence, the Insulation Rider shall be attached hereto and made part hereof.
XI1. SPECIAL CLAUSES: (See Addendum attached hereto and ma_de_a part hereof _by_reference)
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.
IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a particular transaction. Terms
and conditions should be negotiated based upon the respective interests, objectives and bargaining positions of all interested persons.
Copyright 1985 by The Florida Bar and the Florida Association of REALTORS, Inc.
WITNESSES: (Two recommended but NOT required)
Date
(Buyer)
Date
WITNESSES: (Two recommended but NOT required) (Buyer)
too
Date
S Iler)
i `}• Date
Seller �>
Deposit(s) under Paragraph 11 received; if other than cash, then subject to clearance. By: (Escrow Agent)
EPOKER'S FEE: (CHECK & COMPLETE THE ONE APPLICABLE)
[} (IF A LISTING AGREEMENT IS CURRENTLY IN EFFECT):
OR Seller agrees to pay the Broker named below, including cooperating sub - agents named, according to the terms of an existing, separate listing agreement;
❑ (IF NO LISTING AGREEMENT IS CURRENTLY IN EFFECT):
Seller agrees to pay the Broker named below, at time of closing, from the disbursements of the proceeds of sale, compensation in the amount of (COMPLETE
ONLY ONELI -2% of gross purchase price OR $ for Broker's services in effecting the sale by finding a Buyer ready, willing and able to
purchase pursuant to the foregoing Contract. In the event Buyer fails to perform and deposit(s) is retained, 50% thereof, but not exceeding the Broker's fee above
provided, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall be paid to Seller. If the
transaction shall not be closed because of refusal or failure of Seller to perform, the Seller shall pay said fee in full to Broker on demand. In any litigation arising
out of this Contract, concerning the Broker's fee, the prevailing party shall be entitled to recover reasonable attorne Zes an costs.
_ FLOOD REALTY INC. /Y4e J/
;firm name of Broker) (name of cooperating sub - agent) ISeI)er/ / f'
By:
(authorized signatory) (Seller)
Rev. 1/65