07-02-2007
Voting Order
Councilwoman Rogers
Councilman Vincenzi
Councilwoman Rhodes
Councilwoman Lichter
Mayor Thomas
AGENDA
CITY COUNCIL OF EDGEW A TER
REGULAR MEETING
July 2, 2007
7:00 P.M.
COMMUNITY CENTER
We respectfully request that all electronic devices are set for no audible notification.
I. CALL TO ORDER, ROLL CALL, PLEDGE OF ALLEGIANCE, INVOCATION
2. APPROVAL OF MINUTES
A. Regular Meeting of April 16,2007.
B. Regular Meeting of May 7, 2007.
3. PRESENT A TIONS/PROCLAMA TIONS/PLAQUES/CERTIFICA TES/DONA TIONS
4. CITIZEN COMMENTS
This is the time for the public to come forward with any comments they may have. Citizen
comments relating to any agenda matter may be made at the time the matter is before
Council. Please state your name and address, and please limit your comments to three
"3" minutes or less.
5. CITY COUNCIL REPORTS
6. CONSENT AGENDA
A. Declaration of Covenants and Restrictions - authorizing the Mayor to execute
the documents relating to properties the City purchased through the Hazard
Mitigation Grant Program which are located at 135 Wildwood Avenue and 120
West Pine Bluff Street.
7. PUBLIC HEARINGS, ORDINANCES AND RESOLUTIONS - None at this time.
8. BOARD APPOINTMENTS - None at this time.
City Council Agenda
July 2, 2007
Page -2-
9. OTHER BUSINESS
A. Sale of Park Towne Property - Purchase and Sale Agreement and Addendums
submitted by MGM Real Estate Group, Inc. for purchase of the 82 i: acres of
City owned property for $4.5 million and authorize the Mayor to execute all
associated contract and closing documents (during the 06/18/2007 meeting,
this item was continued until July 2nd).
10. OFFICER REPORTS
A. City Clerk
B. City Attorney
C. City Manager
I) Tentative Agenda Items
I I. CITIZEN COMMENTS
12. ADJOURN.
Note. All items for inclusion on the July 30, 2007, agenda must be received by the City Manager's
office no later than 12:00 pm, Thursdav, July 19,2007.
Pursuant to Chapter 286, F.s., if an individual decides to appeal any decision made with respect to any matter
considered at a meeting or hearing, that individual will need a record of the proceedings and will need to ensure that a
verbatim record of the proceedings is made. The City does not prepare or provide such record.
In accordance with the Americans with Disabilities Act, persons needing assistance to participate in any of
these proceedings should contact City Clerk Susan Wadsworth, 104 N. Riverside Drive, Edgewater, Florida, telephone
number 386-424-2400 xllOl, 5 days prior to the meeting date. If you are hearing or voice impaired, contact the relay
operator at 1-800-955-8771.
I: \I iz _ docslagendasl070207re g
AGENDA REQUEST
Date: June 20,2007
PUBLIC
HEARING
RESOLUTIONS
ORDINANCE
BOARD
APPOINTMENT
OTHER
CONSENT July 2, 2007 BUSINESS
ITEM DESCRIPTION:
Recording of Declaration of Covenants and Restrictions for repetitive flood loss properties purchased
with Hazard Mitigation Grant Program.
BACKGROUND:
Properties located at 120 W. Pine BluffSt. and 135 Wildwood Ave. had previously experienced repetitive
flooding. This allowed the city to acquire the properties last year with proceeds from the Hazard
Mitigation Grant Program. The grant required the structures to be demolished and for the acquired
properties to remain open space in order to facilitate floodplain functions within the area.
In order to comply with provisions of the grant program, the city must record a Declaration of Covenants
and Restrictions indicating restrictions regarding future use of the properties.
ST AFF RECOMMENDATION:
Staff recommends that the City Council give approval for the Mayor to execute the Declaration of
Covenants and Restrictions for the above-mentioned properties and direct the City Manager to record
such.
ACTION REQUESTED:
Motion to approve attached Declaration of Covenants and Restrictions and authorize the Mayor to
execute.
FINANCIAL IMPACT: (FINANCE DIRECTOR) N/A
(SPECIFY IF BUDGET AMENDMENT IS REQUIRED) N/ A
PREVIOUS AGENDA ITEM:
YES
NO XX
DATE: N/A
AGENDA ITEM NO.
Respectfully submitted,
'~~hd J.~tf'.J
Robin Matusick I
P aral 1
This instrument prepared by:
The City of Edgewater
P. 0. Box 100
Edgewater. FL 32132-0100
DECLARA TION OF COVENANTS AND RESTRICTIONS
THIS DECLARATION OF COVENANTS AND RESTRICTIONS, made this
day of July, 2007 by the CITY OF EDGEW A TER, a municipal corporation of the State of Florida,
hereinafter referred to as "EDGEW A TER".
WITNESSETH: EDGEW A TER is the Owner in fee simple of certain real property located
within the City of Edgewater, Volusia County, Florida and described as:
Lots 18 and 19, Block "B", Section One, Highland Shores, according to plat thereof
as recorded in Map Book 9, Page 63 of the Public Records of Volusia County,
Florida. Property location: 135 Wildwood Avenue) (Parcel #7451-01-02-0180).
Copy of Warranty Deed attached hereto and incorporated herein as Exhibit "A".
For the purpose of complying with the Robert T. Stafford Disaster Relief and Emergency
Assistance Act, Public Law 93-288, as amended (the "Stafford Act"), which identifies the use of
disaster relief funds under Section 404 (Hazard Mitigation Grant Program) ("HMGP"), including
the acquisition and demolition/relocation offlood damaged property, and with the cooperative grant
agreement entered into between EDGEW A TER and the Florida Department of Community Affairs
("DCA") which authorized the acquisition of certain flood damaged real property, and to restrict the
use of the acquired lands to open space in perpetuity in order to protect and preserve natural and
beneficial floodplain functions as required by the Stafford Act, EDGEW A TER hereby declares that
all of the real property described above and each part thereof shall be held, sold and conveyed only
subject to the following covenants, conditions and restrictions, which shall constitute covenants
running with the land and shall be binding on all parties having any right, title, or interest in the
above-described property or any part thereof, their heirs, successors, and assigns, and shall inure to
the benefit of each Owner thereof.
COVENANTS AND RESTRICTIONS
1. USE OF LAND. All properties described above and in Exhibit "A" shall be used only
for purposes compatible with open space, recreational, wetlands management purposes, or
other compatible purposes expressly approved by the DCA.
2. CONDITIONS ON STRUCTURES. No new structures or improvements shall be
erected on the premises other than a restroom or a public facility that is open on all sides,
designed and constructed in conformance with codes and ordinances adopted for
participation in the National Flood Insurance Program, and functionally related to the open
(Agreement/Fire-Flood Damge Property Declaration - Wildwood)
1
space use.
3. LIMITATION ON DISASTER ASSISTANCE. No future disaster assistance from any
Federal source for any purpose related to the property may be sought, nor will such assistance
be provided.
4. CONVEYANCE OF OWNERSHIP. EDGEW A TER shall not convey the property
or any interest therein, except to another public entity or a qualified non-profit entity, and
only with prior approval from the DCA and the Regional Director of the Federal Emergency
Management Agency ("FEMA"). Any such conveyance shall be made expressly subject to
the Covenants and Restrictions imposed hereby, which Covenants and Restrictions shall run
with the land in perpetuity binding the grantee(s) of such property, their heirs, successors,
and assigns.
5. INSPECTION. FEMA, its representatives and assigns, including the State of Florida,
shall have the right to enter upon the properties described herein, at reasonable times and
with reasonable notice, for the purpose of inspecting the property to ensure compliance with
the terms and conditions of these Covenants and Restrictions.
6. ENFO RCEMENT. If the subj ect properties are not maintained according to the terms and
conditions of the Covenants and Restrictions set forth herein, EDGEW A TER, the DCA and
FEMA, their representatives and assigns, are responsible for taking measures to bring the
property back into compliance.
7. SEVERABILITY. Should any provision of these Covenants and Restrictions and the
application thereof to any properties described herein or to any persons, or should any
circumstances be found to be invalid or unenforceable, the rest and remainder of the
Covenants and Restrictions, and their application, shall not be affected and shall remain valid
and enforceable.
8. AMENDMENT. The Covenants and Restrictions imposed hereby shall not be amended
without the approval, in writing, of EDGEW A TER, the DCA and FEMA.
9. DURATION. The Covenants and Restrictions imposed hereby shall run with and bind the
lands described herein and s hall insure to the benefit of and be enforceable by
EDGEWATER, the DCA and FEMA in perpetuity.
(Agreement/Fire-Flood Damge Property Declaration - Wildwood)
2
IN WITNESS WHEREOF, the City of Edgewater, a municipal corporation of the State of
Florida, by and through its City Council, and the Mayor thereof who is authorized to execute this
document, has set its hand and affixed the seal of the City of Edgewater, this day of July,
2007, after approval during the City Council meeting held on , 2007 under
item
ATTEST:
Susan J. Wadsworth
City Clerk
(Agreement/Fire-Flood Damge Property Declaration - Wildwood)
3
CITY COUNCIL OF THE
CITY OF EDGEW ATER,FLORIDA
By:
Michael Thomas
Mayor
Robin L. Matusick
Paralegal
Page 1 of 1
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Return'to:
Name:
Address:
116/llll/2lOi 11:39 AM
Doc st~ 665.00
(Transfer Alt $ 95000)
Inst rumenU 2006-145876 # 1
Book: 5847
Page: 2432
Diane H. Hatoosek
Vo lusia Clurty. Clerk of Court
Jeanie Shover
SOUTHERN TITLE HOLDING COMPANY, LLC
1000 S. RIDGEWOOD AVENUE
EDGEWATER, florida 32132
This Instmment PlqlllrCd:
Jeanie Shover
SOUTHERN TITLE HOLDING COMPANY, LLC
1000 S. RIDGEWOOD AVENUE
EDGEWATER, Florida 32132
WI a necessary incident to the fulfillment of conditions
contained in a title insurance commitment issued by it.
Property Appraisers Parcel 1.0. (Folio) Number(s):
7451-01-02-0180
Grantee(s) S.S.#(s):
File No:EW065083
WARRANTY DEED
This Warranty Deed Made the 31st day of May, 2006, by CHARLES W. CLARK and ELIZABETH
A. CLARK, HUSBAND AND WIFE, hereinafter called the grantor, whose post office address is: 90
CUNNIGHAM DRIVE, NEW SMYRNA, Florida 32168
To THE CITY OF EDGEWATER, whose post office address is: P.O. BOX 100, EDGEWATER,
Florida 32132, hereinafter called the grantee,
WITNESSETH: ThaI said grantor, for and in consideration of the sum of SIO.OO Dollars and other valuable
considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases,
conveys and confirms unto the grantee, all that certain land situate in Volnsla County, Florida, viz:
LOTS 18 AND 19, BLOCK "B", SECTION ONE, ffiGHLAND SHORES, ACCORDING TO PLAT
THEREOF AS RECORDED IN MAP BOOK 9, PAGE 63 OF THE PUBLIC RECORDS OF VOLUSIA
COUNTY, FLORIDA.
The property Is not the homestead of the Grantor(s).
TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining.
To Have and to Hold, 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
hWl 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 12/31/05, reservations, restrictions and CWIements of record, if any.
(171. /.= "gran/or" and "gront.." h""ln shall ~ conSlru.d to includ. all g..d". and singular or plural as /h. contutlndlca"s.)
In Witness Whereof, tor has hereunto set tor's hand and seal the day and year first above written.
Witness Signa
Printed Name:
~b).ClJ
CHARLES W. CLARK
~
Witness Signature:
Printed Name:
Witness Signature:
Printed Name:
STATE OF FLORIDA
COUNTY OF VOLUSIA
The foregoing instrument was acknowledged before me this 31 th day of May, 2006, by CHARLES W. CLARK
and ELIZABETH A. CLARK, HUSBAND AND WIFE, who is/are pers a kno
produced driver license(s) as identification.
My Commission Expires:
o~tl'-~ P(t'l-~ Regina M. Shover
: c; Commission # 00397191
~.... .p Expires March 11,2009
" f:I: ",po, 8:lt'ee<! TrrYf F."". huranC., Inc. ~7'01t
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Message
q)A}.
Page lof2
u
R Matusick
From: James Rose [JamesRose@RiceRoseLaw.com]
. . Sent: Monday, May ~1.,2007.'1:20 PM.. .
To: R Matusick; J yvi1lial11S; cansay.@doranlaw.com .
;.$~blect:' FW: Documen't. (26).PDF CitY of Ed'gew~t~r Co~tract'
. RECEIVED
. .
. .~:~ , MAY' 2 i' 200:7 '-.
. t( '1,...<
....: .-..~.t' "'_,~
FYI, response from Atty Sweet. Jim
-----Original Message-----
From: Penny Every [mailto:jcspenny@bellsouth.net]
Sent: Monday, May 21,2007 1:14 PM
To: James Rose
Subject: Re: Document (26).PDF City of Edgewater Contract
CITY ATTORNEY
. Jim:
It will be 2 weeks before my client completes his wetland study. We are unable to agree to a firm
purchase price until we know the number of upland vs. wetland acres. We will keep you advised.
Thanks. Jeff.
----- Original Message ----_
From: J~m~~__B.Q~~
To: 'James Rose' ; 'Penny Every'
Cc: JWilliams@cityofedgewater.org ; Rmatusick@cityofedgewater.org
Sent: Monday, May 21,200711:10 AM
Subject: RE: Document (26).PDF City of Edgewater Contract
Ms. Every, the city council is meeting tomorrow. If possible, please respond to the counter.
offer so the council can be be advised of your client's position in this matter. Thank you, Jim
Rose
-----Original Message-----
From: James Rose [mailto:JamesRose@RiceRoseLaw.com]
Sent: Wednesday, May 16, 20079:34 AM
To: 'Penny Every'
CC:'J.wlll1Qm~@c.LtyQtl;ggeWQt~r,Qrg~;'RmQt!,LSLc.~@~i!YQteJlg~~leI,Qrg.~
Subject: RE: Document (26).PDF City of Edgewater Contract
o
--'-'- ..-----.-.-..----.----.- ... .--.-----..--.-.-.--------
Sf? 1l?007
Message
Page 2 of2
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Jeff, sorry for the delay. The city has now authorized me to make the following counter
offer in regard to the proffered Cootract for Sale and Purchase:
, '.
i The ro~d and b'ridge work must be 'substant.ially .c6mpet~~ within 2:10 day's .of.., " "
-.".;..,. ,.,' ,.: '--:.. - cl~si ng I c~mpletely. do~~ withi~. ~~. ~d~iti~na.1 ~o." ~!:lYs: ,,' . if. th:~ r~d a!]~Ler!da~ ~f~. n9t ::*' ,~,~,,_~''''.':: _
.. ' '''''''' _",,,'r.,,,,, finrshedwlthrn the' time allotted, It would constrtute'a default under the mortgage held by ,
the City.
, . ,
1. Escrow and closing agent changed to Ric'e & Rose, who will provide the titl~' wo.rk.
.~, .:-
3. The Buyer shall be responsible for the costs involved with the mortgage (intangible
tax, documentary stamps on mortgage, etc.) The Seller would be responsible for the
documentary stamps on the deed and the cost of the Owner's Title Insurance policy.
4. The Contract cannot be assigned without the consent of the City.
5. The price will be $5,107, 266.00 ($60,000.00 per each acre). The City will grant
the Buyer $770,000.00 as road credits as of May 31, 2007, This brings the net price
per acre to $51,026.00.
6. The City will not place monies in escrow for Seller modifications.
v
7. The Buyer would allow the Edgewater Power Boat Company the right to purchase
10 acres of the land for a period of 90 days after closing for the same price per acre.
Please confer with your client about the proposed revisions and advise me of their
response.
James L. Rose, Esquire
Rice & Rose, P.A.
W'fjW. ricerosel~w.com
222 Seabreeze Boulevard, Daytona Beach FL 32118 (386) 257-1222
50 Leanni Way, Suite C1, Palm Coast FL 32137 (386) 445-9007
102 South Riverside Drive, New Smyma Beach FL 32168 (386) 426-6463
CONFIDENTIAL NOTICE I AVISO DE CONFIDENCIALlDAD
THIS E-MAil (INCLUDING ANY A TIACHMENTS) IS INTENDED ONLY FOR THE RECIPIENT(S) NAMED ABOVE, IT MA Y CONTAIN CONFIDENTIAL OR
PRIVilEGED INFORMATION AND SHOULD NOT BE READ, COPIED OR OTHERWISE USED BY ANY OTHER PERSON. IF YOU ARE NOT A NAMED RECIPIENT
PLEASE CONTACT THE SENDER AND DELETE THE E-MAil FROM YOUR SYSTEM, '
ESTE MENSAJE, (INClUYENDO CUAlOUIER ANEXO) ESTA DIRIGIDO UNICAMENTE A lOS DESTINATARIOS ARRIBA SENAlADOS. PUEDE CONTENER
INFORMACI6N CONFIDENCIAl 0 PRIVllEGIADA Y NO DEBE SER lEiDO. COPIADO 0 DE OTRA FORMA UTlLlZADO POR CUAlOUIER OTRA PERSONA. SI
USTED RECIBE ESTA COMUNICACI6N POR ERROR. FAVOR AVISAR Al REMITENTE Y ElIMINAR El MENSAJE DE SU SISTEMA,
v
-----Original Message-----
From: Penny Every [mailto:jcspenny@bellsouth.net]
Sent: Tuesday, May 15, 2007 2:54 PM
To: JamesRose@RiceRoseLaw.com
SUbject: Document (26).PDF City of Edgewater Contract
Document (26).PDF
S/21/?()07
, V, PURCHASE AND SALE:
, -
'MGMReal Estate Group, Inc" a Florida' corporation
("!3UY~r")
'2', agrees to buy and
The Cit
'("Seller') ,
"3' agrees to sell the property d~scri~ed' ~s: Street Address:
4', Parktowne Blvd.; Edgewater; Florida
5' Legal Description: All real property owned by the, Ci ty of Edgewater remaining in the Parktowne Industrial.
6' Center described on attached map and consisting of approximately 82 acres. (See Attached Exhibit A)
7" and the following Personal Property:
8' None-vacant land
9 (all collectively referred to as the "Property") on the terms and conditions set forth below. The "Effective Date" of this Contract is
10 the date on which the last of the Parties signs the latest offer, Time is of the essence in this Contract. Time periods of 5
11 days or less will be computed without including Saturday, Sunday, or national legal holidays and any time period ending on a
12 Saturday, Sunday or national legal holiday will be extended until 5:00 p.m. of the next business day,
13' 2, PURCHASE PRICE:
$
4,510,000.00
14' (a) Deposit held in escrow by
U (b) Additional deposit to be made within
Jeffrey C. Sweet
$
10,000. 00
days from Effective Date
$
16' (c) Total mortgages (as referenced in Paragraph 3)
$
17" (d) Other: '
$
18' (e) Balance to close, subject to adjustments and prorations, to be made'with cash, locally:drawn $
19 ' certified or cashier's check or wire transfer"
4,500.000;00
20' 3, THIRDPARTY FINANCING: Within N/A days from Effective Date ("Appli~atic~Jn Period"), Buyer will, at Buyer's expense, apply for
21' third party financing in the amount of $
or ~ % '.of the purchase price to be amortized over a period of
22' years and due in no less than _ years and with a fixed interest rate not to exceed 0 _ % per year or variable interest rate not
23' to exceed 0 _ % at origination with a lifetime cap not to exceed
% from initial rate, with additional terms as follows:
24'
25 Buyer will pay for the mortgagee title insurance policy and for all loan expenses. Buyer will timely provide any and all credit,
26 employment, financial and other information reasonably required by any lender. Buyer will notify Seller immediately upon obtaining
27' financing or being rejected by a lender. If Buyer, after diligent effort, fails to obtain a written commitment within days from
Vective Date ("Financing Period"), Buyer may cancel the Contract by giving prompt notice to Seller and Buyer's deposit(s) will be
29 returned to Buyer in accordance with Paragraph 9,
30' Buye~ l--J and Seller L-J C-) acknowledge receipt of a copy of this page, which is page 1 of 5 Pages.
CC-2 @ 1997 Florida Association of REALTORS@ All RiglltS Reserved f!f!'~ffJt!lf1![:@1t; rn @)
This contract is for use by Lori Zoch. Use by any other party is illegal and voids the contract. iffJ:Jll'Lt;i ""'0' .".....,,,
31' 4. TITLE: Seller has the legal capacity to and will convey marketable title to the Property by ~ statutory warranty deed
32' 0" oth'er , free of Iiens,.easements and encumbrances of record or known to Seller,
33 but subject topr<;:Jperty taxes for the year of closing; covenants, restrictio.ns a[1d'public utility easements of. record; and (list. any
. 34' other matters to 'which title wili be subject) .' . .
'<~,
UJrovided .there e~ists at cl~sing no violation of the foregoing and n.one of them prevents Buyer's inten~ed use of th~ Property ~s
. co.rnmerc~al I lndustrla~ .' . . . .' " '. .....
(a) Evidence of Title: =rWill~'at(~he~k one) '1:81 Seller's. 0 BLiyer.;s~xpensear:Jd with,in' 30 days ~ frani Effective Date
O'prior toClosing Date b from date Buyer' meets or waives financing contingency in Paragraph 3,deliver to BuYer' (check o'ne)
" IX a title insurance comfT)itment by a Florida licensed title insurer and; upon Buyerrecordingthe ~eed, an owner's p()licy in
the amount of the purchase p~ice for fee simple title Subj~ct only to exceptions stated above;. .
o an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an existing firm.
However, if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed insurer as
a base for reissuance of coverage. The prior policy will include copies of all policy exceptions and an update in a format
acceptable to Buyer from the policy effective date and certified to Buyer or Buyer's closing agent together with copies of all
documents recited in the prior policy and in the update.
38'"
39'. .
40'
41 "
42'
43
44.
45
46
47
48
49' .
50
51
52
53
54
55
56
57'
U
60
61'
. 62
63'
64'
65
66
" (b) Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller of title
defects. Title will be deemed acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or (2) Buyer delivers proper
written notice and Seller cures the defects within ~ days from receipt of the notice ("Curative Period"). If the defects are
cured within the Curative Period, closing will occur within 10 days from receipt by Buyer of notice of such curing. Seller may
elect not to cure defects if Seller reasonably believes any defect cannot be cured within the Curative Period. If the defects are
not cured within the Curative Period, Buyer will have 10 days from receipt of notice of Seller's inability to cure the defects to
elect whether to terminate this Contract or accept title subject to existing defects and close the transaction without reduction in
purchase price. The party who pays for the evidence of title will also pay related title service fees including title and abstract
charges and title examination.
(c) Survey: (check applicable provisions below)
~ Seller will, within ..:.-L days from Effective Date, deliver to Buyer copies. of prior surveys, plans,specificatibns, and
engineering documents, if any, and the following documents relevant to this transaction: all documents in Seller 's
possession , prepared for Seller or in Seller's
possession, which show all currently existing structures.
~ Buyer will, at 0 Seller's ~ Buyer's expense and within the time period allowed to deliver and examine title evidence,
obtain a current certified survey of the Property frolT) a registered surveyor. If the survey reveals encroachments on the
Property or that the improvements encroach on the lands of another, 0 Buyer will accept the Property with existing
encroachments~ such encroachments will constitute a title defect to be cured withi0 the Curative Period.
. (d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress.
. (e) Possession:. Seller will deliver possession and keys for all locks and alarms to Buyer at closing:
67" 5, CLOSING DATE AND PROCEDURE: This transaction' will be closed in Volusia County, Florida on
68' or before the " N/A or within ~ days from Effective Date ("Closing Date"), unless otherwise extended
69' herein. 0 Seller I8l Buyer will designate the closing agent. Buyer and Seller will, within N/A days from Effective Date, deliver to
70 Escrow Agent signed instructions which provide for closing procedure. If an institutional lender is providing purchase funds, lender
71 requirements as to place, time of day, and closing procedures will control over any contrary provisions in this Contract.
72 (a) Costs: Buyer will pay taxes and recording fees on notes, mortgages and financing statements and recording fees for the deed.
73 Seller will pay taxes on the deed and recording fees for documents needed to cure title defects. If Seller is obligated to discharge
74 any encumbrance at or prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances.
75 (b) Documents: Seller will provide the deed, bill of sale, mechanic's lien affidavit, assignments of leases, updated rent roll,
76 tenant and lender estoppel letters, assignments of permits and licenses, corrective instruments and letters notifying tenants of
77 the change in ownership/rental agent. If any tenant refuses to execute an estoppel letter, Seller will certify that information
r lregarding the tenant's lease is correct. If Seller is a corporation, Seller will deliver a resolution of its Board of Directors
Vauthorizing the sale and delivery of the deed and certification by the corporate Secretary certifying the resolution and setting forth
81,., facts showing the conveyance conforms with the requirements of loca/law. Seller will transfer security deposits to Buyer. Buyer
81 will provide the closing statement, mortgages and notes, security agreements and financing statements.
This contract is for use by Lori Zoch. Use by any other party is illegal and voids the contract. ,1}~~1f~.l~
t!QJ!;l2'l.~'~~
82' Buy~ L-J and Seller (--J C-) acknowledge receipt of a copy of this page, which is page 2 of 5 Pages.
90
91
.92
93
94
95
96
(c) Taxes, Assessments, and Prorations: The following items will be made current and prorated ~ as of Closing Date
' 0 dS of : real estate taxes, bond and assessment payments assumed ~y Buyer, interest,
rents, association dues, insurance prer:nium~ acceptable to Buyer, op~rational expenses. and .. . ,
If:the amount of taxes and aSSessmehts for the current year cannot De ascertained, rates for the previous year will be used with du'e
allowance being made for improvements and exemptions. Seller is aware of the following assessments affecting or potentially
affecting the Property:. None.'
Buyer \iVill be responsiplE? for all assessments ,of anYl<inq,w.hi~h ,b~Gom~, due and owing on or after Effective, Date, unless the"
. improvement is substantially completed as Of Closing Date, if) which case S,eller will be obligated tD pay the entire assessmer:t. : ,.
' (d) FIRPTA Tax Withholding: The Foreign Investment in Real Pr,operty ACt C'FIRPTA") requires Buyer to vitithh91d at closing a,' .
portion of the purchase proceeds forremission to the Ihterna! Revenue Service ("I.R.S. ") if Seller is a "foreign person" as d.efined
by the Intern,a~ Revenue Code. The parties agreeto comply with the provisio.nsof FIRPTA and, to provide, at or: prior to closing,
: appropriate documentation to establish any applicable 'exemption from the withholding requirement. If withholding is ,required'
and Buyer does not have cash sufficient at closing to meet 'the withholding requirement, Seller will provide the necessary funds
and Buyer will provide proof to Seller that such funds were properly remitted to the I.R.S.
8:3'
84'
85'
, 86 '.
G
97" 6, ESCROW: Buyer and Seller authorize Jeffrey C, Sweet, Esquire
98' Telephone: 386-677-3431 Facsimile: 386-677-8436 Address: 595 W, Granada Blvd" Suite A
99' Ormond Beach, FL 32174 to act as "EsQrow Agent"
100' to receive funds and other items and, subject to clearance; disburse them in accordance with the te'rms of this Contract. Escrow
101' Agent will deposit all funds received in ~ a non-interest bearing escrow account 0 an interest bearing escrow account with
102' interest accruing to with interest disbursed (check one) 0 at closing
103' 0 at inteNals. If Escrow Agent receives conflicting demands or has a good faith doubt as to Escrow
104 Agent's duties or liabilities under this Contract, he/she may (a) hold the subject matter of the escrow until the parties mutually
105 agree to its disbursement or until issuance of a court order or decision of arbitrator determining the parties' rights regarding the
106 escrow or (b) deposit the subject matter of the escrow with the clerk of the circuit court having jurisdiction over the dispute. Upon
107 notifying the parties of such action, Escrow Agent will be released from all liability except for the duty to account for items
108 previously delivered out of escrow. If a licensed real estate broker, Escrow Agent will comply with applicable provisions of Chapter
109 475, Florida Statutes. In any suit or arbitration in which Escrow Agent is made a party because of acting as agent hereunder or
110 interpleads the subject matter of the escrow, Escrow Agent will recover reasonable attorneys' fees and costs at all levels, with
111 such fees and costs to be paid from the escrowed funds or equivalent and charged and awarded as court or other costs in favor
'/ ',f the prevailing party. The parties agree that Escrow Agent will not be liable to any person for misdelivery to Buyer or Seller of
'-'!scrowed items, unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence.
114 7, PROPERTY CONDITION: Seller will deliver the Property to Buyer at the time agreed in its present "as is" condition, ordinary
115 wearpnd tear excepted, and will maintain the lan(jscaping and grounds in a comparable condition, Seller makes no warranties
116 other than marketability of title. By accepting the Property "as is," Buyer waives all claims against Seller for any defects in the
117 property. (Check (a) or (b)) . .
118' . 0 (a) As Is: Buyer has inspected the Property or. waives any right to inspect .and accepts the Property in its "as is" condition.
,119' ~ (b) Due Diligence Period: Buyer will, at Buyer's expense and within 30 days from Effeclive Date ("Due Diligence Period~'),
120 determine whether the Property is suitable, in Buyer's sole and absolute discretion, for Buyer's intended use and development of
121 the Property as specifiEld in Paragraph 4, During,th~ Due Diligence Period, Buyer may conduct any tests, analyses, surveys and
122 investigations ("Inspections") which Buyer deen;s necessary to determine to Buyer's satisfaction the Property's engineering, , '
123 'architectural, environmental properties; zoning arid zoning restrictions; 'flood zone designation and restrictions; subdivision
124 regulations; soil and grade; availability of access' to public roads,water, and other utilities; consistency with local, state and regional
125 growth management and comprehensive land use plans; availability of permits, government approvals and licenses; compliance with
126 American with Disabilities Act; absence of asbestos, soil and ground water contamination; and other inspections that Buyer deems
127 appropriate to determine the suitability of the Property for Buyer's intended use and development. Buyer shall deliver written notice
128 to Seller prior to the expiration of the Due Diligence Period of Buyer's determination of whether or not the Property is acceptable.
129 Buyer's failure to comply with this notice requirement shall constitute acceptance of the Property in its present "as is" condition.
130 Seller grants to Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Due Diligence
131 Period for the purpose of conducting Inspections; provided, however, that Buyer, its agents, contractors and assigns enter the
132 Property and conduct Inspections at their own risk. Buyer shall indemnify and hbld Seller'harmless from losses, damages, costs,
133 claims and expenses of any nature, including attorneys' fees at all levels, and from liability to any person, arising from the conduct of
134 any and all inspections or any work authorized by Buyer. Buyer will not engage in any activity that could result in a mechanic's lien
135 being filed against tile Property without Seller's prior written consent. In the event this transaction does not close, (1) Buyer shall
lU~r repair all damages to the Property resulting from the Inspections and return the Property to the condition it was in prior to conduct of
the Inspections, and (2) Buyer shall, at Buyer's expense, release to Seller all reports and other work generated as a result of the
1~ Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seller agrees that Buyer's deposit shall be
139 immediately returned to Buyer and the Contract terminated.
li--~ -r@tt;"
<{~&itf~ '. "-.',
t.~J'JlfJ.fti' -
140' Buy~ (--.J and Seller L-) (_) acknowledge receipt of a copy of this page, which is page 3 of 5 Pages.
This contract is for use by Lori Zoch. Use by any other party is illegal and voids the contract.
148
149
(c) Walk-through Inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the parties,
con'duct a final "walk-through" inspection of the Property to determine compliance with this paragraph and to ensure that all
property is on the' premises. '.
(d) Dis'C1os'ures:' .'
1. Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficien~
:quantities, may present health risks to persons whbareexposed hitover"time: Levels of radbn that exceed federal and state
. guideHnes h~ve. been found in qUilding? in .F.lorida. Adoiti.onal inforrT1ation .re.garding .radon and radon testing may beoptained . .
. from your. c.ounty. public health unit. . . . . .. .
.2. Energy Efficiency: Buyer may llave determined the energYefficiE?ncyratingof the. building, if ally is Iocated.on the Real.
1'50. ..' Property. .
141
142
143
144
~G
1..
. . .
....151. 8..d'PERATIONOF PROPERTY.oU'~ING CONTRACT PERIOD:Seller\':"iilcoiltinueto 6peratethe Pro'perty and any business '.'
. 152 conducted on the Property in the manner operated prior to Contract and will take no action that would adversely impact the
153 Property, tenants, lenders or business, if any. Any changes, such as renting vacant space, that materially affect the Property or
154' Buyer's intended use of the Property will be permitted ~ only with Buyer's consent 0 without Buyer's consent.
155 9. RETURN OF DEPOSIT: Unless otherwise specified in the Contract, in the event any condition of this Contract is not met and
156 Buyer has timely given any required notice regarding the condition having not been met, Buyer's deposit will be returned in
157 accordance with applicable Florida laws and regulations.
158 10. DEFAULT:
159 (a) In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make the title
160 marketable after diligent effort, Buyer may either (1) receive a refund of Buyer's deposit(s) or (2) seek specific performance. If
161 Buyer elects a deposit refund, Seller will be liable to Broker for the full amount of the brokerage fee.
162 (b) In the event the sale is not closed due to any default or failure on the part of Buyer, Seller may ~ retain all deposit(s)
163 paid or agreed to be paid by Buyer as agreed upon liquidated damages, consideration for the execution of this Contract, and in
164 full settlement of any claims, upon which this Contract will terminat& . If Seller retains the
165 deposit, Seller will pay the Listing and Cooperating Brokers named in Paragraph 12 fifty percent of all forfeited deposits retained
166 by Seller (to be split equally among the Brokers) up to the full amount of the brokerage fee.
.1 i. ATTORNEY'S FEES AND COSTS: In any claim or contr~versy arising out of or relating to this Contract, the prevailing party,
, '--'lich for purposes of Hlis provision will include Buyer, Seller and Broker, will be awarded reasonable attorneys' fees, costs and
169 expenses.
170 12. BROKERS:.. Neither Bljyer nor.Seller has t;tilized the services of,. or for any .other. reason owes compensation tO,a licensed
171 real estate Broker other than:
172' (a) Listing Broker: None .
173" who is 0 an agent of 0 a transaction broker "0 a nonrepresentative
174' and who will be compensated by 0 Seller 0 Buyer O'both parties pursuant to 0 a listing agreement 0 other (specify)
175'
176'
177'
178" (b) Cooperating Broker: . None
179" . who is 0 an agent of 0 a transaction broker 0 a nonrepresentative
180" and who will be compensated by 0 Buyer 0 Seller 0 both parties pursuant to 0 an MLS or other offer of compensation to a
181" cooperating broker 0 other (specify)
182'
183"
184'
185 (collectively referred to as "Broker") in connection with any act relating to the Property, including but not limited to inquiries,
186 introductions, consultations and negotiations resulting in this transaction. Seller and Buyer agree to indemnify and hold Broker
187. harmless from and against losses, damages, costs and expenses of any kind,including reasonable attorneys' fees at all levels, and
188 from liability to any person, arising from (1) compensation claimed which is inconsistent with the representation in this Paragraph, (2)
189 enforcement action to collect a brokerage fee pursuant to Paragraph 10, (3) any duty accepted by Broker at the request of Buyer or
190 Seller, which duty is beyond the scope of services regulated by Chapter 475, F.S., as amended, or (4) recommendations of or services
1'Uovided and expenses incurred by any third party whom Broker refers, recommends or retains for or on behalf of Buyer or Seller.
19~ ,J. ASSIGNABILITY; PERSONS BOUND: This Contract may be assigned to a related entity, and otherwise 0 is not assignable
193' ill is assignable. The terms "Buyer," "Seller" and "Broker" may be singular or plural. This Contract is binding upon Buyer, Seller
194 and their heirs, personal representatives, successors and assigns (if assignment is permitted). .c..L _-:," -:- ~_ ~,
Jm~-lc-m7!!1 - ,
- !/fiI'Jl"tiiH$
195' BuyerID ) (_) and Seller (_) L-) acknowledge receipt of a copy of this page, which is page 4 of 5 Pages.
1'11;.Q rllnr.rrlr.r ; R fnr llRP hv T,nri 7,{)rh. Tl,q~ hv .::inv "t-hAr n~rr.v ;.q ; 11 ~rr;:l' ~""rl H"-''':,,4,..., ~\......... ........._.....___ _~_
196 14, OFTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to this Contract):
19'7' ' (J Arbitration 0 Seller Warranty ,0 Existing Mortgage
198' . 0 Section 1031 Exchange, D Coastal C~nstruct,ion Control Line ~ Other See Addendum
199' 0 Property Inspection and Repair 0 Flood Area Hazard Zone 0 Other
U 0 Seller Representations 0 Seller Financing .. 0 Other
IS, MI~CELLANEOUS: The terms bf this,Contract constitute.the entir~ agreement'between Buyer and Seller. Modi~catioris of
' 202' this' Contract wiir 80t be binding unless in writing: sig~ed' a~d delivered by 'Hie party to be boucid. Signatures, initials, documents" .
20~ refe~enced in'this Contract; counterparts an'd written modifications comrilu[licated electroni'cally ot on paper will'be acceptable.for ' '
204 all purposes', includin'g delivery, arid will be binding. Handwritten :or typewritten terms insert,ed in' or attached to this. Contract prevail
205 over preprinted. terms. If any provision of this ContraCt is or becomes invalid or unenforceable, all remaining ,provisions will continue.
' 206' to be fully'effective. ThisContratt will be construed .under Florida law and Will. not be retordedJn a.'ny public records., Delivery of any
207 written' notice to any part/sagent will be deemed delivery to that party.
-..0
208 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT, IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY
209 PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL FACTS AND REPRESENTATIONS THAT ARE
210 IMPORTANT TO THEM AND TO CONSULT AN APPROPRIATE PROFESSIONAL FOR LEGAL ADVICE (FOR EXAMPLE,
211 INTERPRETING CONTRACTS, DETERMINING THE EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF
212 TITLE, FOREIGN INVESTOR REPORTING REQUIREMENTS, ETC,) AND FOR TAX, PROPERTY CONDITION, ENVIRONMENTAL AND
213 OTHER SPECIALIZED ADVICE, BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUpy THE PROPERTY AND THAT ALL
214 REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON SELLER REPRESENTATIONS OR PUBLIC
215 RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF THE REPRESENTATION. BUYER AGREES TO RELY
216 SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND GOVERNMENTAL AGENCIES FOR VERIFICATION OF THE PROPERTY
217 CONDITION, SQUARE FOOTAGE AND FACTS THAT MATERIALLY FFECT PROPERTY VALUE,
219'
220
f270sit ,Of $
10 , 00 0 " 0 0 by t&
by
c ck D other
received on
Signature of Escrow Agent
221 OFFER: Buyer offers to purchase the Property on the above terms and conditions. Unless acceptance is signed by Seller and a
21 klned copy delivered to Buyer or Buyer's agent no later thanD a,m.o p.m. on
, '-"'uyer may revoke this offer and receiv::--a re~all deposits. ~
224' Date:AJpr,! ?;v 7<l9~uy~ .c:::> ~ .
~ ;:' ~~~.t[r:i ' 'Tele~hone:" ' ..-'
Tax 10 No:
, ;".
225'
226'
~ .... . . . .
.' Title:
Address:
"-"''''.
Facsimile:
227' Date:
BUYER:
TaX ID No:
.228'
229"
Title:
Address:
Telephone:
. , Facsimile:
230" ACCEPTANCE: Selleraccepts Buyer's offer and agrees to sell the Property on the above terms and conditions (0 subject to the
231 attached counter offer). .
232' Date:
SELLER:
The City of EdgewElter, Florida
Tax 10 No:
233'
Title:
Address:
Telephone:
Facsimile:
234'
235' Date:,
SELLER:
Tax ID No:
236" Title: Telephone: Facsimile:
237" Address:
;-<-..,L~~~ ) L-) and Seller L-) L-) acknowledge receipt of a copy of this page, which is page 5 of 5 Pages.
The Floridil Association of REALTORS makes no representation as to the legal validity or adequacy of any provision of this form in any specific transaction, This
standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry
and is not intended to identify the user as a REALTOR. REALTOR is a registered collective membership mark which may be used only by real estate licensees who are
members of tile NATIONAL ASSOCIATION OF REALTORS and who subscribe to its Code of Ethics,
The copyright laws of the United States (17 U,S, Code) forbid the unauthorized reproduction of this fOlm by any means including facsimile or computerized forms.
CC-2 @ 1997 Florida Association of REALTORS@ All Rights Reserved :l~j~:rt~rr@1t:
This contract is for use by Lori Zoch. Use by any other party is illegal and voids the contract. .,QIJXlr2S.
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LrGAl DESCRiPTION:
"ff'
PARCEL A;
A PARcn or LAND ll1NG IN SECTtONS 29, J2. 50. 51 AND 52. TOYINSHIP. H. SOUTH, RANGE'- J....(AST
AND BEn'4C:A PART (Jr'T}j( UNQ.OESCRIBE'O IN omClAl RECORoS BOOK 49io, P.I,GE JO.! AND
AU: Of THE PARCELS Of LAND DESCRIBED iN omWL RECO'lOS BOOKS (5208. PAC( 2995). (5t 71, .
PAC( 922),' (5058, PACE 4839), (5221. PAC( 1290). (2907. PAct 070). (~12. PACE .1S01). (2041, PACE
6051. <:2~. PA:GE 123). (4~65. PACE. ooJ7), (5-17&. 'f'AqE 'J2M): (IIt17. PAct 200e). (2796, PAC(' no), .
(2300. PAG( \7'(0), (3970, . PAC€" 4'5<4). (-4-.ol58. PAGE. .143), ('24.8, PAGE "2~). (J931, PACE 4691) "NO
(2057, PACt: 424) All Of THE PUBUC RECORDS Of VOlU,'A COUNTY, FlORIO A, SAlD PARCEl or
LANO" BEINC DESCRIBED AS rou.ov.s:.. ". ., < .., .... .
COMMENCING .4.T A CONCRETE J.4ONU"'[NT STAMPED .PLS 2027'" LOCATED AT THE SOU1l1we:ST
COR~ER. Of SlcnON 4-9. TO~SHIP 17 'SOUtH. .FtAN~ .34 EAST (nit ~0lI~ P/CJICETT GRANT):
niEN~ N.7I'.}6"38-E.. ALONGi n-t( SOUlk UNE OF SAID SE:CnON 49. " orSTANcr or 955.05
FttT TO THE. NORTH'NEST CORNE;R -0' PARC(l C AS DtSCRIBED IN mE AF"ORESAIO OrF10Al
RECORDS BOOt< 4920, PAGE 304' AND S.....O POiNT BEING' 1l1~ NORTH'M;ST CORNER Of" n1t
AFORESAID SECTION. 29 "'Nil THE POINT ~ BEClNNINQ or 1IiE r""cn. Of' lAND. flERDIl .,. ._
DESCRIBED; -rnEHCE S.01,r,g-r:, ALONG nit WESt UNf orSAtO PARCEL C AND THE 'M:ST
UN[ r:F SAID SEcnQN 29, It. DISTANCE or looe.-5B FTIT TO ll-4E NORTl-tEAST CORNER OF' nit
PARCEL Of' LAND DESCRIBED IN 5....10 OfTlCIAl RECORDS BOQ;( 3931. PAGE 4591;. TH(NCE ALONC
TH( BOUNDARIES OF SAID PARCfl... mE Fo..lOYl'lNG THR[E COURSES AND orSTA.NCES~ THENCE
S.68'42'41'W" 50.09 FrET; rn~CE S.O"7'19~E., 9J.28 FEET; Tl-iENCE N.88....2.41..(..
5-(tO'tl FEn TO A POINT l'r1NG ON THE AFORESAID IY{ST UN( Of" SAID PARCEL C AND ll-tE MST
UNE OF SAID SECTION 29: THENCE S.01'7"9"[.. AlONC SAID UNE. ,nO.82 fEET TO THE
SOUTH'l'l'EST CORNER or: S....,D P....RCfl C AND SECTlON 29 AND SAlO POINT LYING ON Tl-l( NORTH
UN( or: LOT 34 Of" THE PuT Of' ASSESSOftS SUBOl.....,S.ON Of" C. ALVAREZ CRANT IN SECTION 52.
TO'M'lSI1.p 17 SOU1l1. RANGE J.4 EAST AS R(CORDUl IN Iol"P BOOKS J, PACE 1.37 AND 22. P"CE 24
01' THE PUBUC RECORDS 01' YOlUSlA COUNTY, rlO'lIDA; THENCE ALONG THE BOUNDARIES or
SAlD PLAT AND S....ID SECTlON ~2. THE FOllO'ftlNG Two COURS[S AND DISTANCES: THENCE
S.74.,~r~"W.. 637....... FEET: Th(NCE S.IJ"42'0~"E., 1625.12 fEET TO THE NORiH~sr
CORNER Of" "THE AfORESAID SECTION 32; THENCE S.0!"2'.1~E.. AlONG THE. 'NEST UN( or
SAID srCll"" 32. A DISTANCE or 778.37 fEET ro . PONT l'l1NC ON'THE NORTH RIGHT Of WAY
UN( OF Tk( FtORIO.... EAST COAST RAlLW....y RIGHT or WAY (.tDC(WATER CVTOFTXA 1~O FOOT
'lIt'lDE RIGHT or- WAY): Tl1ENCE Al~G SAra RIGHT Of WAY UNE, THE f'bu..O'MNG T'M) COURsrs
AND OtS1ANCES: ll-4tNCE N.8'T'52'1t~E" 3136.11 FU:l TO THE POINT OF CURVA.TURt or A
ORClJl.AR C:;URVE, CONCAYJ: NORTHERLY AND J..t....V1NG A RADIUS ~ 1357.69'FU:T; Tli(NC(
(ASTERl Y, AlCNe; Tli[ ARC Of' 5AtD CURVE, iHROUCH A CENTRAL. A.NGlE Of 22"05'J'., 52"3.52
rtET TO THE SOUiH~T CORNER or THE PARCEl Of' LAND OESCRIBED IN ornOAl RECORDS
BOQlo( 3a2S. PAC( 0283 or THE PUBLIC RE.CORDS Of vo..usu. COUNTY, F'lORIOA; ll-lENC( ALONG
Tl1E 8OUNOARlESOF SAIO PARCEL. Of" LAND DESCRIBEO IN SAID OfTIOAl. RECOROS BOOt< 3a25,
PAC( 0283, Tl-tt 'OLlO'NING [lQ-fT COURSE::S "NO DISTANCES; THENCE 1'1.28'19'12"""., 46.36
F[ET; TH~C[ N.27"DJ'2J-W., 90.09 FEET; THtNCE N,2~~6'~9-W., 210.92 FUT; l'HENCE
N.24"39'JJ"W., J&4.00 rUT; THENCE N.24':}.4'.30~w., 3J.4...... fEET; TH(NC( N_152"20'.H.E..,
574.63 FEn: THENCE N,2r06"p-w., leo.OJ rn:T; THENC[ N.e-rl!S'4'''E.. JJ2.17 FEn TO A
POINT l'YlNG DN THE ~Sl"tRlY RICHT Of' W/I,Y UN( Of" THE Fl.ORIDA EAST COAST R.Io,lLwAY
R.CHT or WAY', l'MD-iC( ALONG SAID. RIC',i..n OF W"Y UNE. ~[ f'ou..O'MNG "THRH COURSES AND
OISUNCES; l'MENCE N.22"06'29-W.. 24J.oe tEn; .THENcE" N,61~'.Jl'L. .Je_oo ruT;
THENCE N.22W'29"W., JJ!96e FUT TO ThE tNTtRS(CT1CN 'Mlli Tl1[ SOUlli UNf or SECTION
49. TOYitlSMIP 17 SOUTl-( l:UNC( JA ["'ST, (THE S(YlolOUR PICK(TT CRANT) AND SAID UN( BEING
Tl-4[ SOUT1-l RIGHT Or: WAY UNE Of" TENTH STREET; THENCE S.71'36'3e.w_. AL()P.jG SAID l.INE,
14~.'iH FTET TO A COFlN(R OF P.....RCEl. A AS DESCRIBEQ \1'01 OfTlCI"L RECORDS BC><:>< 4920. PAGE
J041 or THE P'ueuc RECOROS OF VOlU$lA COV...,TY. F'lORlOA: ntENCE "'LONG THE eOVNOARlfS
Of SAID PARCEL A, THE FOliO'MNG S('v'[N COURSeS "NO DiSTANCES: THENc( S.23'e'~"E..,
194.01 ITEr; TrlENC( "'.66'41"04.E., 80.00 f'ITl": 1l-4fNC[ S.231e'5e"E.. JU5.54 FEn;
1}.lENC[ S.67,TJ2"w., 9-39 ~4 rn:T; THENCE 1'012.319'31-"".. 3198.~O FrET; THENCE
N_6t\'.O'2'9-C eo.oo rEET, Tl1E.NCE N.23'19.J'."".. 191'l.JQ fEET 10 ....POiHl LYlNG ON THE
Af'OREIolENTIONED SOUTH liNt or SEcnON 49 AND Tl-l[ SOUTH RIGHT (y ""'.~YUN[ 01-' TENTH
STREET; THENCE S.71"35'JO"W., ALONC SAID UNE 901,20 F"EET TO THE POINT or BEGINNING
CONUINING 32J 1D "'CRES ""ORE OR LESS.
TOGETHER WITH.
PARCEl. 8:
10. PARCEL or l.AND B[lNG PARCEL B ",S DESCRIBED IN OFTlOAl RECORQS BOO< 4920, PAG( .3041
OJ: Tl-lE PUBuC RECORDS Of' VOlUSlA COUNTY. Fl.ORIOA, OESCRI8ED AS fOlLOWS:
BEGINNING AT THE INrrRSEcnON Of l1-1E EAST 1.INE Of LOT 42 A.S SHa........, ON T'rlt PLAT OF
ASSESSOR'S SUBDIVISION OF G. "LVAREl GRANT SEcnON ~2 - T17S. _ R..34€". "5 RECORDro IN
~AP BOOKS J. P"G( lJ7 AND 22, PAc;( 24 or SAID PUBLIC R(COROS or '1'OUJSI.... COV~TY, FlORID...
'MTH Tl-tE. SOU-rn RICHT OF.w....y UN( OF 1li( f'\..ORIO" EAST COAST RAll:WAY RIGHT. Of' _WAY;.
TliF;N1X 'ALONG '!HE BOUNDARIES or SAID- '''''/Xl B AS .or:soaOOl IN SAIO ornOAl Il!:COOlDS'
BOOK 4D20. PAC[ 304', A.lL ll-tE rOllO......NC COURSES ANO DISTANCE$: THENC( ALONG SAID
R'IGHT (y WAY UNE, THE F"Oll.O'rltNC T'NO COURS[S AND [)fSTANC[S: f'l:4ENCE N.57~2'11.r...
276.30 rEET TO Tk[ POINT or CURVATURE OF A CIRCULAR CUR'to't:, CONCAvt: NMrn[RlY AND
HAVING A RADIUS or lS07 n F"EEl; TkENCE EAS~LY. AlOHC T11E ARC OF SAlO CURVE.
THROUGH A ttNTRAL ANGU: or 10"'01'37'", 26J,lS~ rrET; 'THENCE S.~T~'12"E., 121.65 fttl
TO A POINT L'I1NC ON THE NORTH RIGHT or. WAY UNE Of PARK' A\QIVE; THENCE
S.5?W~~"w., A.tONG SAID RIGiT OF WAY UNf, ~j9.01 F'[[T; THENCE .~_22-4-4'4(l"W., IDe.6ft
rrrr TO THE POINT or BEGlNNrNG. '.
CONTAINING 1.32 ACRrs WORE OR lLSS.
ALSO TOGETHER 'H1"TH:
P~cn ,C:
.....P....RCEl or LAND BEING A PART Of' l.OT 42 AS SHOWN ON T)-j[ PLAT Of ASSESSOR'S SU8DIVlSlON
or G. Al VARQ GRANT. S[CllON ~2.. 10'MiSHtP 17 SOUTH, R....NGE J4 ~[AST AS RECOROEO IN WAP
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ADDENDUM TO COMMERCIAL CONTRACT
This Addendum to Co~ercial Contract("Addendum?')by and betweenMGI\.1 RealEstateGroup,
Inc., a Florida corporation ("Buyer") and The City of Edgewater, Florida, a Municipal corporation
("Seller") hereby amends and supplements the foregoing Commercial Contract ("Contract") as
follows:
1. Title Agent. Buyer has selected the title/escrow/closing agent who is Jeffrey C. Sweet,
Esquire.
2.
Survey/Purchase Price:
The purchase price of the Property shall be computed at
$55,000.00 per acre for "Usuable Upland" and $8,000.00 per acre for all remaining Property.
"Usuable Upland" is defined as all Property to be acquired less Jurisdictional Wetlands and Upland
Buffers under the jurisdiction of the St. Johns River Water Management District. Buyer shall
procure and pay for a survey. The surveyor shall determine the exact number of acres comprising
the Property. Buyer is also responsible for determining all Jurisdictional Wetlands, Upland Buffers
and all areas within the 100 year floodplain. Buyer's surveyor will designate all "Useable Upland"
and all remaining property; and will further determine the number of acres associated with each
category. Acreage shall be computed to the nearest tenth of an acre. The final purchase price shall
be adjusted in accordance with the formula provided herein. The purchase price stated in the
Contract assumes there are eighty two (82) acres at $55,000.00 per acre.
3.
Plat.
On or before the date of closing, all parties required to join in the plat (or
'-> any addendum thereto) of Parktowne Industrial Center shall sign the plat.
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4.
Fill Dirt. .
Buyer has agreed to construct certain improvements (as provided below)
which are the Seller's responsibility. Any fill dirt derived from any construction activities by Buyer
. shail remain the prop~rty ofthe.Buyer and .Q1ay be used by Buyer at the ~ole 'discretion of Buyer.
s.
Base Leg Drive: .
. .
Buyer has agreed' to install a Road nanied Base Leg Drive. ("Ro'ad"j
The Road. shall be installed in accordance with plans and specifications prepared by Gierok
Engineering, Inc., 1835 Edgewater Drive, Orlando, FL 32804 dated August 31,
2005 with revisions on December 6, 2005 and January 19,2006, sheets C-l through C-lO. Seller
has secured estimates to build the Road and Bridge described below. The sum of two million seven
hundred thousand dollars ($2,700,000.00) is a reasonable cost to construct the Road and Bridge.
("Accepted Bid"). Buyer will install the Road (and Bridge) for the Accepted Bid amount. The
Accepted Bid amount will be a credit to Buyer at closing. Seller will hold a note and mortgage in
U the amount of the Accepted Bid pending Buyer's completion of the Road (and Bridge). Upon
completion of the Road (and Bridge), Seller will fully satisfy the note and mortgage and a
. .
satisfaction of mortgage will be recorded in the Public Records of Vol usia County, Florida.
6.
Bridge.
. There is an existing canal depicted on the drawing attached hereto as
Exhibit B. The canal is adjacent to Tract A-Ii and A-i2. Buyer agrees to build a bridge over the
canal and to extend the pavement approximately ten to fifteen feet sufficient to stabilize the
bank.("Bridge") Buyer further agrees to extend water and sewer service to the end ofthe pavement
and stub and cap water and sewer. Seller has secured estimates to build the Bridge and Road
described above. The sum of two million seven hundred thousand dollars ($2,700,000.00) is a
reasonable cost to construct the Bridge and Road ("Accepted Bid"). Buyer will install the Bridge
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(and Road) for the Accepted Bid amount. The Accepted Bid amount will be a credit to Buyer at
closing. Seller will hold a note and mortgage in the amount ofthe Accepted Bid pending Buyer's
c3D
U completion of the Bridge (and Road). Upon completion of the Bridge (and Road) Seller will fully
satisfy the note and 'mortgage and a satisfaction .of mortgage wiIl be recorded in the Public Records .
. .
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of Volusia County, Florida.
. .
7. p'ur'chascPri~e Adiust~ent After Closing: If Selier reqtiires any 111odificatioil to the
. Road or Bridge ("Seller Modification") defined herein after closing and the Seller Modifications
result in an additional expense to Buyer; then the purchase price shall be further adjusted to provide
Buyer a credit for the additional expense. Buyer and Seller agree that the Escrow Agent shall hold
$250,000.00 in an escrow account after closing for use in compensating Buyer for any Seller
Modifications.
8.
Road Impact Fee Credits.
Seller agrees to cooperate with Buyer in securing any road
impact fee credits as may be available from Volusia County.
9.
Assignment. Buyer may assign the Contract and Addendum without Seller's consent,
provided Buyer shall not be released from liability.
10.
Seller Default. .
If the transaction fails to closedue to a default by the Seller, in
aq.dition to other remedies as provided in the Contract, Seller shall reimburse Buyer for all expenses
'. .
. .
incurred. by Buyer in conducting investigations of the Property.
11. Road and Bridge Construction. The Accepted Bid amount is for the Road and Bridge
combined.
12. Time for AcceDtance. This offer shall expires on April 30, 2007. If not executed by Seller
on or before April 30, 2007, this offer shall be deemed withdrawn. Buyer has signed the offer
effective April 30, 2007, which date shall commence the due diligence period.
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(SELLER) .
The City of Edgewater, Florida, a Municipal corporation
By:
(BUYER)
MGM Real Estate Group, Inc., a Florida corporation
A-pn I ~ 2vv7
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MGM Real Estate Group, Inc.
100 LaCosta Ln. Suite 140 Daytona Beach, FL 32114
Phone: 386 274-1422 Fax: 386 274-1481
Document Transmittal
May 1, 2007
Ms. Liz McBride
City of Edgewater
Re: Second Addendum Commercial Contract
Dear Liz:
Enclosed .are 4 signed copies of the Second Addendum to Commercial
Contract signed by Thomas G. (Gerry) Glass of MGM Real Estate Group, Inc.
A copy was faxed to you earlier today.
Please call Gerry with any questions or concerns you may have.
Cordially,
.,
'7Yl wW
Minnie Davidge
Enclosure
v
SECOND ADDENDUM TO COMMERCIAL CONTRACT
This Second Addendum ~o Commerci~ Contract ("Addendum'}is made by and between MGM Real
Estate Group, Inc., a Florida corporation ("Buyer") and The City of Edge water, Florida, a Municipal
corporation ("Seller') as follows:
1.
The Time for Acceptance in paragraph 12 of the first Addendum is hereby extended from
April 30, 2007, to May 30,2007.
2.
All time periods stated in the Contract are extended accordingly. The parties confirm that
the "effective date" of the Contract is the date on which the last party signs the Contract
and all Addendum.
3.
All terms and conditions of the Contract and Addendum thereto not inconsistent herewith
are ratified and affirmed.
v
(SELLER)
The City of Edgewater, Florida, a Municipal corporation
By:
(BUYER)
MGM ~ Group, InC.,. a Florida corporation
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TENT A TIVE AGENDA ITEMS
JUL 16 move to July30 per Council
JUL Y 27 - Fri. 9am to 5pm - Budget Work Session all funds
JULY 30 (items due 7/19)
1) 2nd R, Ord # 2007-0-05, Peterson 19 scale comp plan amend as Low Density Residential with
Conservation Overlay (CPA-0601) 1 R 4/16
2) 2nd R, Ord # 2007-0-06, Peterson rezoning as RPUD (RZ-060 1) 1 R 4/16
3) 2nd R, Ord # 2007-0-07, Stulllg scale comp plan amend as Low Density Residential with Conservation
Overlay (CP A-0618) 1 R 4/16
4) 2nd R, Ord # 2007-0-08, Stull rezoning as R-3 (Single-Family Residential (RZ-0616) 1 R 4/16
5) 15t R, Ord #2007-0-, Washington Park rezoning
6) 2nd, Ord #2007-0-_, amendment to LDC to include Article XIX (Adult Entertainment)
7) 2nd R, Ord #2007-0-_, Massey - rezoning (airport area)
8) Shuffleboard Court Report/Update
9) pt R, Ord #2007-0-_, amendment to LDC to include Article XIX (Adult Entertainment)
10) pt R, Ord #2007-0-_, Massey - rezoning (airport area)
11) A ward of Park Towne Road Bids/Contract (award was to be done by July 18th per bid documents - asked
bidders for an extension of award until August 18th)
AUG 6 (itCl115 dUG Thm 7/2G)
CANCELED DUE TO CM VACATION
AUG 16 - Thur 5-10 pm - Budget Work Session all funds
AUG 20 (items due Thur 8/09)
1) 2nd R, Ord #2007-0-, Washington Park rezoning
2) 2nd R, Ord #2006-0-42, Lee/Indian River Crossing rezoning 96.24 acres s of 442 e of 1-95 as BPUD (RZ-
0618) cont from 2/5/07, 7J
3) 2nd R, Ord #2007-0-_, amendment to LDC to include Article XIX (Adult Entertainment)
4) 2nd R, Ord #2007-0-_, Massey - rezoning (airport area)
5) Shuffleboard Court Report/Update
SEPT 2 Mtg - LABOR DAY - Reschedule
SEPT 17 (items due Thurs 09/06)
1) Shuffleboard Court Report/Update
OCT 1 (items due Thurs 09/20)
OCT 15 (items due Thurs 10/04)
1) Shuffleboard Court Report/Update
NOV 5 (items due Thurs 10/25)
NOV 19 (items due Thurs 11/08)
DEC 3 (items due Thurs 11/22)
DEC 17 (items due Thurs 12/06)
I: \1 iz _ docs\outl ines\ai tems07 3 007
Rev. 6/21/07
JAN 7 (items due Thurs 12/27)
JAN 21 (items due Thurs 01/10)
UNSCHEDULED UPCOMING HEARINGS - PLANNING DEPART APPS RECEIVED
1) Massey - annexation (AN-~
2) Water/Reclaimed Site - 19 scale comp plan amend & rezoning
3) SeaGate - Edgewater Lakes Phase II PUD Agreement
4) Restoration 442 DRI -- approx 5,000 acres
5) SeaGate - Edgewater Lakes, Phase IB & IC - amendment to PUD
6) Coastal Oaks - Haynes sm scale comp plan amend
7) Rezoning, lones/Putnam - I acre @ 1155 Old Mission Road (RZ-0515)
8) Rezoning, lones/ASD Properties - 110.66 acres - PUD (RZ-0508)
9) Hickey Residential (RZ-0505)
10) 2nd R, Ord #2006-0-17, Carder/Falcon rezoning, (RZ-0519) .24:1:: acres s/w corner of Falcon Avenue &
Mariners Gate Court as R-4 (Multi-Family Residential) cont from 6/19, 6B
11) pI R, Ord. #2007-0-, 442 rezonings
12) Washington Park preliminary plat approval
DEVELOPMENT SERVICES (PLANNING) DEPARTMENT PROJECTS
1) Subdivision Architectural Design Standards
2) US # 1 Corridor Guidelines
3) Capital Improvement Element
4) Recreation/Open Space Element
5) Capital Improvement Plan
I:\liz_ docs\outlines\aitems073007
Rev. 6/21/07