HomeMy WebLinkAboutTom A. Binford Realty Co. Contract for Sale and Purchase -1984 03 30CONTRACT F4A'S AL9 A N 0 0 UAt� HASH
IARTIES: " IM. M r son (Wi.dos)
1
128Q N. Qranae Avenue( Winter Springs, (Phan. :327-1-3 9 .._.; ),
dtd CITy of WINTER SPRINGS, a Florida incorporated m=Uc,ipality as .•euvisey
400 N. Edaecron Avenue, Winter Springs, FL 32708 (Phone 3�1� )
hereby agree that the Sailer shall sell and Buyer shall buy the following property upon the following terms and conditions WHICH INCLUDE the Standards For
Piety Estate Transactions on the reverse hereof or attached hereto, hereinafter referred to in "Standard(s) ".
1. DESCRIPTION:,
(a) Legal description of real estate ("Property ") located in Seminole County, Florida:
Lots 1 through 25 and including Hoover Street and Luttrell Lane, Luttrell
Park as recorded in Plat Book 11, Pgae 44 of the Public Records of Seminole
County, Florida.
(b) Street address, if any, of the Property being conveyed is Hwy. 419
(c) Personal property included:
N/A
1I. PURCHASE PRICE:. j.s:tinlatpd 7. See ,Special. Clauses .. , .. , , ..$ 143 338.93
PAYMENT: tirt a
(a) Deposit(s) to be hold in escrow by `T►= A. Wt&ord Realty Co., Inc.
in the amount of . . .. , $ 500.00
(b) Subject to AND assumption of Mortgage in favor of it /a
bearing interest at ri la % per annum and payable as to principal and
interest $ per month, having an approximate present principal balance of . . . . . $
(c) Purchase money mortgage and note bearing interest at n a % on terms set forth heroin below, in the
principal amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
(d) Other C�,c, $ --
(e) Balance to close, (U.S. cosh, certified or cashier's check) subject to adjustments and prorstions .•ee . . . .s 142,838.93
Special Clauses 143 338.93
TOTAL . , ...$ r
111, FINANCING: 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 con-
ditioned upon the Buyer obtaining a firm commitment for said loan within n/a days from date hereof, at an interest rate not to exceed
nla %; term of n/a years; and in the principal amount of $ Buyer agrees to make application for, and to use reasonable dill-
once to obtain said loan. Should Buyer fail to obtain same or to waive Buyer". hts hereunder within said time, either party may cancel Contract.
<, IV. TITLE EVIDENCE: Within thirty days from date of Contract, Seller shall, at his expense, deliver to Buyer or his attorney, in accordance with
r` Standard A., either (CHECK) 17 (1) or Ck2) : (t) abstract, or (2) title insurance commitment with fee owner's title policy premium to be paid by Seller at closing.
V. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this offer is not executed by both of the parties hereto on or before Frihni ,dr 19A4
the aforesaid deposit(s) shall be, at the option of Buyer, returned to him and this offer shall thereafter be null and void. The date of Contract "Effective Date ")
shall be the data when the last one of the Seller and Buyer has signed this offer. simltaneously with the bona .Os-
Vt. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the
unless extended by other provisions of Contract.
Clauses
VII. RESTRICTIONS, EASEMENTS, LIMITATIONS: The Buyer shell take title subject to: Zoning, restrictions, prohibitions and other requirements imposed by
ipye►nmental authority; Restrictions and matters appearing on the plat or otherwise common to the subdivision; Public utility easements of record, (provided said
easements are located contiguous throughout the property lines and are not more then 10 feet in width as to the rear or front lines and 7Y, feet in width as to the
side lines, union otherwise specified herein); Taxes for year of closing and subsequent years, assumed mortgages and purchase money mortgages, if any;
Other: now
;provided, however, that none of the foregoing shall prevent use of the Property for the purpose of iTt�lnlcl=YZal ccZeSt _
1ViII. OCCUPANCY: Seller represents that there are no parties in occupancy other than Seller, but if Property is Intended to be rented or occupied beyond closing,
C, tpe fact and terms thereof shall be stated herein, and the tenants) shall be disclosed pursuant to Standard G. Seller agrees to deliver occupancy of Property at
time of closing unless otherwise specified below. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property from date of occu-
pancy, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted the Property, real and personal, in its existing
`condition as of time of taking occupancy unless otherwise noted in writing.
IX, ASSIGNABILITY: (CHECK ONE) Buyer [,'may assign ❑ may not assign, Contract.
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control
sH printed provisions in conflict therewith.
X1. INSULATION RIDER: If Contract is used for the sale of a new residence, the Insulation Rider shall be attached hereto and made a part hereof.
XII. SPECIAL CLAUSES:
See Special Clauses in the attached Exhibit "A which is attached hereto
and made 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.
JTHISHAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND T4E FVQRIDA BAR
Copyright 1981 by The Florida Bar and the Florida Association of REALTORSS /j Executed by Buyer onWI SS : (Two r buyNOT required)
44 (SEAL)
( or)
` (SEAL)
Buyer
Executed by oiler on� "I
WITNESSES:
(Tw-ore recommended but NOT re� quired/ )
, (SEAL)
7U _ ,� nd M M. L
(Seller)
(SEAL)
Deposit(s)) tinder `I (a) received (Seller) check, subject to clear
By;
(Escrow Agent)
BROKERAGE FEE: Seller agrees to pay the registered real estate Broker named below, at time of closing, from the disbursements of the proceeds of sale, com-
pensation In the amount of 10 _ % of gross purchase price or $ , for his services In effecting the sale by finding a Buyer, reedy,
willing and able to purchase pursuant to the foregoing Contract. In the event Buyer falls to perform and deposit(*) is retained, 50% thereof, but not exceeding the
Broker's fee above computed, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall bo
.paid to Seiler. If the transaction shall not be closed because of refusal or failure of Seller to perform, the Sailer shall pay said fee In full to Broker on demand.
-T< 41 � Z]iILUL � —Aj tl'-CO -T Inc (SEAL} (SEAL)
(Name of Broker)
REV.: 3/81
(Seller)
(Seller)
(SEAL)
STANDARDS FOR REAL ESTATE TRANSACTIONS
A. EVIDENCE OF TITLE: CO An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by
an existing firm) purporting to be an accurate synopsis of the instruments affecting the title to subject Property recorded in the public records of the county where -
In the Property is situated, through Effective Date. An abstract shall commence with the earliest public records, or such later date as may be customary in the
county wherein the Property is situated. Seller shelf convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in this Con
tract and those which shall be discharged by Sailer at or before closing. Marketable title shall be determined in accordance with applicable Title Standards adopted
by authority of The Florida Bar and in accordance with law. Upon closing of this transaction such abstract shall become the property of Buyer, subject to the right
of retention thereof by first mortgagee until fully paid; or 12J a title insurance commitment issued by a qualified title Insuror agreeing to issue to Buyer, upon
recording of the deed to Buyer, an Owner's policy of title insurance In the amount o the purchase price, Insuring title of the Buyer to the Property, subject
only to liens, encumbrances, exceptions or qualifications sat forth in this Contract and those which shall be discharged by Seller at or before closing. Buyer shall
hew 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine same. If title is found defective, Buyer shall, within Wi
days therNfterr, notify Seller in writing specifying dofect(s), If said defect(s) render title unmarketable, Seller shall have 120 days from receipt of notice within;
which to remove said defect(s), and if Seller Is unsuccessful in removing them within said time, Buyer shall have the option of either (1) accepting the title salt:
than Is, or (2) demanding a refund of all monies paid hereunder which shall forthwith be returned to Buyer and thereupon Buyer and Seller shall be released, sate,
one another, of all further obligations under the Contract; however, Seller agrees that he will, if title is found to be unmarketable, use diligent effort to correct the
defects) in title within the time provided therefor, including the bringing of necessary suits.
B. EXISTING MORTGAGES: Seller shall furnish a statement from the mortgagee(s) setting forth principal balance, method of payment, interest rate and whether
the mortgsge(s),_js in good standing. If a mortgage requires approval of the Buyer by the mortgages In orci,gr to avoid default, or for assumption by the Buyer of sold
mortgage, and 11J the mortgagee does not approve the Buyer, the Buyer may rescind the Contract, or W requires an increase in the interest rate or charges of"
for any reason In excess of $100.00, the Buyer may rescind the Contract unless Seller elects to pay such increase or excess. Seller and Buyer shall each pay 50% of
such fee. Buyer shall use reasonable diligence to obtain approval. The amount of any escrow deposits held by mortgagee shall be credited to Seller.
first mortgage and a 15 day grace period if a second mortgage; shall provide for right of prepayment in whole or in y; all not provide for
acceleration or interest adjustment in event of resale of the Property; and shall be otherwise I - "required by Seller's attorney; provided, however,
Seller may only require clauses customarily found in mortgages and rrotet generally utilized by savings and loan institutions in the county wherein the
Property Is located. Said mortgage shall r e encumbered Property to keep all prior liens and encumbrances in good standing and forbid the
owner of the Pr ng modifications of or future advances under prior mortgage(s). All personal property being conveyed will, at option of Seller,
fwey..hevs she- p+ePevt
the Rmperty to fact
am..
li 3:0RhAlTr_Q- Thm y-% --,*ship 41FAj -110440611 to$ ds"WOFY -* 8%0iAsAQ6 Of 10449 sAsi soisminstion ithereal, ev a Late tl on 40 de,s w 'a
occurs last, may have the improvements inspected at Buyer's expense by a Certified Pest Control Operator to determine whothaLt I active termite
Infestation or visible existing damage from termite infestation in the improvements. If Buyer is informed o the foregoing, Buyer will have 4 days
from date of written notice thereof or 2 days after selection of a contractor, whi , within which to have all damages, whether visible or not, in-
spectod and estimated by a licensed building or general co 8eifer sfi "ail pay valid costs of treatment and repair of all damage up to 1%% of Purchase Price.
Should such costs exceed that amo eve the option of cancelling Contract within 5 days after receipt of contractor's repar estimate by giving
written notice or may elect to proceed with the transaction, in which event Buyer shall receive a credit at closing of an amount equal to 1 /,% of
Pries. "Termites" shall be doomed to F 4elude all it,,eod dest oylt . ad to be ep., led und., the Fic,Hda Past e.1— ija 1 "
F. INGRESS AND EGRESS: Seller warrants that there is ingress and egress to the Property sufficient for the intended use as described in Paragraph V11 hereof
the title to which is in accordance with Standard A.
G. LEASES: Seller shall, not less than 15 days prior to closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the
nature and duration of said tenant's occupancy, rental rates and advanced rent and security deposits paid by tenant. In the event Seller is unable to obtain such
letter from each tenant, the same information shall be furnished by Seller to Buyer within said time period in the form of a Seller's affidavit, and Buyer may
thereafter contact tenants to confirm such information. Seller shall deliver and assign all original leases to Buyer at closing.
H. LIENS: Seller shall, both as to the Property and personalty being sold hereunder, furnish to Buyer at time of closing an affidavit attesting to the absence, unieae
otherwise provided for herein, of any financing statements, claims of lien or potential Ilenors known to Seller and further attesting that there have been no improve -.
ments to the Property for 90 days immediately preceding date of closing. If the Property has been improved within said time, Seller shall deliver releases or waivers
of all mechanic's liens, executed by general- contractors, subcontractors, suppliers, and materialmen, in addition to Seller's lien affidavit setting forth the names of.
elf such general contractors, subcontractors: suppliers and materieimon and further reciting that in fact all bills for work to the Property which could serve as a basis
for a mechanic's lien have been paid or will be paid at closing. Swam and Haddock P
1. PLACE OF CLOSING: Closing shall be held t the office o,
J. TIME: Time is of the essence of this Contract. Any reference herein to time periods of less than 6 days shall in the computation thereof exclude Saturdays, Sun-.
days and legal holidays, and any time period provided for herein which shell and on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next fult'
business day.
K. DOCUMENTS FOR CLOSING: Seller shall furnish deed, mechanic's lien affidavit, assignments of leases, and any corrective instruments that may be required Ins.%
connection with perfecting the title. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement, and financing statements.
L. EXPENSES: State documentary stamps which are required to be affixed to the instrument of conveyance, intangible tax on and recording of purchase mo"Af
mortgage to Seller, and cost of recording any corrective instruments shall be paid by Seller. Documentary stamps to be affixed to the note or notes secured by the'
purchase money mortgage, cost of recording the deed and financing statements shall be paid by Buyer.
M. PRORATION OF TAXES (REAL AND PERSONAL): Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowabtp:,'
discount and homestead or other exemptions if allowed for said year. If closing occurs at a date when the current year's millage is not fixed, and current year * -
assessment is available, taxes will be prorated based upon such assessment, and the prior year's millage. If current year's assessment is not available, then taxes whist'
be prorated on the prior year's tax; provided, however, if there are completed Improvements on the Property by January 1st of year of closing, which improvemonlet
were not in existence on January 1st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agraaef
upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration homestead:
exemption, if any. However, any tax proration based on an estimate may at request of either party to the transaction be subsequently readjusted upon receipt of,:`�
tax bill on condition that a statement to that effect Is set forth in the closing statement.
N. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (and not as of Effective Date) are to be paid
by Seller. Pending liens as of date of closing shall be assumed by Buyer, provided, however, that where the improvement has been substantially completed as of tfNli';
Effective Date, such pending lien shall be considered as certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last astimobs
by the public body, of the assessment for the Improvement.
working condition as of 6 days prior to closing. Buyer may, at his expense, have inspections made of as ing in the repair and rnefgx;'
tenance thereof, and shall report in writing to Seller such i n I on prior to taking of possession thereof, or 6 days prior to closi
whichever is first. U s n sat period, he shall be doomed to have waived Seller's warranty as to failures not reported. Valid reported
P. RISK OF LOSS: If the improvements are damaged by fire or other casualty prior to closing, and costs of restoring same does not exceed 3% of the AssesellM °;
Valuation of the improvements so damaged, cost of restoration shall he an obligation of the Seller and closing shall proceed pursuant to the terms o ontraof
witHi cost therefor escrowed at closing. In the event the cost of repair or restoration exceeds 3% of the assessed valuation of the improvements so damaged, Buyer';
shall have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds payable by virtue of such loss or damage, or 911,,
cancelling Contract and receiving return of deposit(s) made hereunder.
O. MAINTENANCE: Notwithstanding the provisions of Standard O., between Effective Date and closing date, personal property referred to in Standard A
and real property, including lawn, shrubbery and pool, if any, shall be maintained by Sailer in the condition they existed as of Effective Date, ordinary waare'
tear excepted, and Buyer or Buyer's designee will be permitted access for inspection prior to closing in order to confirm compliance with this Standard.
R. PROCEEDS OF SALE AND CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds and evidence of title continued at Buyer's expeno ;
to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence, and the cash pre} -
coeds of sale shall be held in escrow by Seller's attorney or by such other escrow agent as may be mutually agreed upon for a period of not longer then 5 day,*,
from and after closing date. If Seller's title is rendered unmarketable, Buyer shall within said 5 day period, notify Seller in writing of the defect and Salter shlslkka
have 30 days from date of receipt of such notification to cure said defect. In the event Seller fails to timely cure said defect, all monies paid hereunder shall, upoe;
written demand therefor and within 5 days thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacate the Property and rocpl*t ,
vey same to the Seller by special warranty deed. In the event Buyer fails to make timely demand for refund, he shall take title as is, waiving all rights against Setler?
as to such intervening defect except as may be available to Buyer by virtue of warranties, if any, contained in deed. in the event a portion of the purchase.
price Is to be derived from institutional financing or refinancing, the requirements of the lending institution as to place, time of day and procedures for steal-,. -
ing, and for disbursement of mortgage proceeds, shall control, anything in this Contract to the contrary notwithstanding. Provided, however, that the Seiler shall °
have the right to require from such lending institution at closing a commitment that it will not withhold disbursement of mortgage proceeds as a result of any title
defect attributable to Buyer - mortgagor, The escrow and closing procedure required by this Standard may be waived in the event the attorney, title agent or closing:
agent insures against adverse matters pursuant to Section 627.7841, F.S. as amended.
S. ESCROW: Any escrow agent receiving funds is authorized and agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse
some subject to clearance thereof in accordance with terms and conditions of Contract. Failure of clearance of funds shall not excuse performance by the Buyer.
In the event of doubt as to his duties or liabilities under the provisions of this Contract, the escrow agent may in his sole discretion, continue to hold the monies
which are the subject of this escrow until the parties mutually agree to the disbursement thereof, or until a judgment of a court of competent jurisdiction shell
determine the rights of the parties thereto, or he may deposit all the monies then hold pursuant to this Contract with the Clark of the Circuit Court of the County .
having jurisdiction of the dispute, and upon notifying all parties concerned of such action, W41ability on the part of the escrow agent shall fully terminate, •xespt"
to the extent of accounting for any monies theretofore delivered out of escrow. If a licensed real estate broker, the escrowes will comply with provisions of Section.;
475.25 (1) (c), F.S., as amended. In the event of any suit between Buyer and Seller wherein the escrow agent is made a party by virtue of acting as such esc►ow,a:
agent hereunder, or In the event of any suit wherein escrow agent interpleads the subject matter of this escrow, the escrow agent shall be entitled to recover a`.
reasonable attorney's fee and costs incurred, said fees and costs to be charged and assessed as court costs in favor of the prevailing party. All parties egres that the
escrow agent shall not be liable to any party or person whomsoever for misdeiivery to Buyer or Seller of monies subject to this escrow, unless such misdalivery "114.
be due to willful breach of this Contract or gross negligence on the part of the escrow agent.
T. ATTORNEY FEES AND COSTS: In connection with any litigation including appellate proceedings arising out of this Contract, the prevailing party shall be
entitled to recover reasonable attorney's fees and costs.
..+�U. DE FAULT: If Buyer fails to perform this Contract within the time specified, the deposit(s) paid by the Buyer aforesaid maybe retained by or for the account.`
of Seller as liquidatud damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon all parties shall be relieved of
all obligations under the Contract; or Seller, at his option, may proceed at law or in equity to enforce his legal rights under this Contract. if, for any reason other
than failure of Sailer to render his title marketable after dilligent effort, Sailer fails, neglects or refuses to perform this Contract, the Buyer may seek specific part;'
formance or elect to receive the return of his deposits) without thereby waiving any action for damages resulting from Seller's breach.
V. CONTRACT NOT RECORDABLE, PERSONS BOUND AND NOTICE: Neither this Contract nor any notice thereof shall be recorded in any public records;;,?
This Contract shall bind and inure to the benefit of the parties hereto and their successors in interest. Whenever the context permits, singular shall include plural ands,
one gender shall Include all. Notice given by or to the attorney for either party shall be as affective as if given by or to said party.
W. PRORATIONS F.ND INSURANCE: Taxes, assessments; rent, interest, insurance and other expenses and revenue of the Property shall be prorated as of datee
of closing. Buyer shall have the option of taking over any existing policies of insurance on the Property, if assumable, in which event premiums shall be ororstad,
The cash at closing shall be Increased or decreased as may be required by said prorations. All references In Contract to proration& as of date of closing will be.
doomed "data of occupancy" If occupancy, occurs prior to closing, unless otherwise provided for herein.
X. CONVEYANCE: Sailor shall convey title to the Property by statutory warranty deed subject only to matters contained in Paragraph VII hereof and those other''.
wise accepted by Buyer. Personal property shall, at the request of Buyer, be conveyed by an absolute bill of sale with warranty of title, subject to such liens as may:
be otherwise provided for herein.
Y. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon any of the parties hereto unless incorporated in this Contract;;:,,
No modification or change in this Contract shall be valid or binding upon the parties unless in writing, executed by the parties to be bound thereby.
qty
EXHIBIT "A"
SPECIAL CLAUSES
These Special Clauses are attached to and made a part of that
certain Contract for Sale and Purchase between M. M. Luttrell
( "Seller ") and City of Winter Springs ( "Buyer ") and to the extent
any provisions of the printed Contract are in conflict herein,
the provisions of these Special Clauses shall control.
The parties hereby agree as follows:
1. Calculation of Purchase Price: The total purchase price
shall be calculated and determined on a basis of a purchase price
of $18,965.52 per acre, which total acreage shall be determined
by a survey to be furnished by Seller. The total acreage shall
include Hoover Street (that portion of which is located within the
platted subdivision), Luttrell Lane and the South 1/2 of Second
Street (that portion of which is contiguous with the platted sub-
division of Luttrell Park) , 13plass J s I t datsrminad pr-lea to ,G'106
r f/
2. Conditions Precedent: This Contract is contingen u o
the Buyer being able to satisfy the following conditions:
(a) That the property is properly zoned to permit the use
of the property for a municipal complex. In the event the property
is not properly zoned, then Buyer shall have sixty (60) days from
the date of this Contract is which to accomplish any rezoning.
(b) That there are suitable soil and subsoil conditions
and that the flood prone area of the property, if any, does not
render the property unusable for the Buyer's intended use. Buyer
shall pay for topographical surveys and soil investigation costs.
V.i -
-V
�� �� ��, a
(c) That the City sells the bonds described in the Resolu-
tion attached hereto as Exhibit "B" and that the proceeds are availa-
ble to the Buyer for the purposes of acquisition of the property.
(d) That the property has a fair market value determined
by an M.A.I. appraisal of approximately the sales price. Such
appraisal shall be obtained by the Buyer at Buyer's expense within
forty -five (45) days of the execution of this Contract.
All of the above conditions and contingencies shall be fully
satisfied or waived by Buyer on or before ninety (90) days from the
date of this Contract, or the closing date, whichever shall occur
first (said date being hereinafter referred to as the "waiver date ").
If any of the above conditions are not satisfied on the waiver date,
Buyer may waive such unsatisfactory conditions and proceed in accor-
dance with all other terms of this Contract, after which date all
conditions shall be deemed satisfied or waived.
If upon the waiver date, any of the above conditions are not
satisfied and Buyer does not waive the same, Buyer may declare in
writing this Contract to be null and void and of no further force
and effect whatsoever, upon which happening Seller shall return
Buyer's deposit and each party shall execute and deliver a full
release of and to the other.
3. Survey: The Seller, within time allowed for delivery of
evidence of title shall have the property surveyed at the Seller's
expense. If the survey, certified by a registered Florida surveyor,
shows any encroachment of said property or that improvements in-
tended to be located on the property encroach on lands of others,
or violate any of the Contract covenants, the same shall be treated
as a title defect.
4. Inspection Rights: Commencing upon the date of this Con-
tract and extending through closing hereunder, Buyer shall have the
right to enter upon the subject property personally or through
-1-
(initial)
(initial)
agents, employees, contractors and representatives for the purposes
of making topographical surveys of same, making rock and soil tests
thereon and in general making tests, analyses and investigations
of the property.
5. Forfeiture of Investigative Data: In the event Buyer
should cause this Contract to be cancelled at such time as would
result in Buyer forfeiting the deposit paid hereunder, all the
investigative data such as topographical surveys, soil tests and
analyses shall be forfeited to the Seller.
6. Balance to Close: At the eptien te RiayeEy Buyer- may pay
at elesing the e —te elese as— speeigie
this eentraety 9F in the =provided there are no legal
prohibitions, Buyer shall pay at closing one -half (1/2) of the
balance to close,
lose shall �� b _ i -- -i - . ee m .lt t- - a►I el l e ?P til li P rf 4?-kP — Buyer —if
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(initial)
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,WA RANTY DEED --
INOIVIO. TO INDIVID •`�'��—
'this Uarranty
Deed Made the
B 0 0 K
"
1557
0566
'this Uarranty
Deed Made the
15th
SEI,',#QLFD U- Jrfilrne
MADELEINE M.
LUTTRELL, a
single
person
E
771
A. D. l9 84 by
hereinafter called the grantor, to
THE CITY OF WINTER SPRINGS, a Florida incorporated municipality
Springs, FL 32708
whose postoffice address is 400 N. Edgemon Avenue, Winter S P
hereinafter called the grantee:
IWh r ier legal repro entati ee and �a signs of nindividuals, andcl the ulcce sorspaands a to sig s s oinstrument corporationsa
or and in consideration of the sum of $ 10.00 and other
1Nitnesseth: That the grantor, f rants, bargains, sells, aliens, re-
valuable considerations, receipt whereof is hereby acknowledged, hereby y
mises, releases, conveys and confirms unto the grantee, all that certain land situate in Seminole
County, Florida, viz:
Lots 1 through 25 and including Hoover Street, Luttrell
Lane, and the South One -Half (S'lj) of 2nd Street of Luttrell
Park according to the plat thereof as recorded in Plat Book
11, Page 44 of the Public Records of Seminole County,
being a portion of Lot 27, Block B of D.R. Mitchell's Survey
of the Levy Grant as recorded in Plat Book 1, Page N5o� one
Public Records of Seminole County, Florida, lying
easterly of State Road 419 an
Road). �o
(� t�S ^ r\r T x
- n Iv
Documentary Tax Pd. S — c
Tax Pd. n Q,
Intanglblo rn
Arthur H. Beckwith J Clerk Seminol• —v `
-n
D.C. ; q�b c
county BY, °D
L
'jogether with all the tenements, hereditaments and appurtenances thereto belonging or in any-
wise appertaining.
Afo 11aye and to }told, the same in fee simple forever.
:lnd 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 cord, and reimposes same.
record,
11t Iffitttess lfhereof, the said grantor has signed and sealed these presents the day and year
first above written.
Signed, se l nd delivered in our presence:
STATE OF FLORIDA
COUNTY OF ORANGE
7M'A'DELEINE M. LUTTRELL
--- • .. ............. • - - - -- -- ---•--•---•------------------ •-- .....................®
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
MADELEINE M. LUTTRELL, a single person
to me known to be the person acknowledged before me that executed She e
foregoing instrument and She
executed the same.
`�•��' "'; " "w►ie WITNESS my hand and official seal in the County and
State last aforesaid this 15th day o D. IS84
A.
ne
; -
C:
;,. 0) r ± +
ta.r . . ... Bii.b... ---
iJotaryPuTific 53 ►BI ic
.4
y My Commission expires Jan. 23, 1986
i'•., ��',bis is t t prepared G . Patricia R. Mueller, Esq.
Swann and Haddock, P.A.
/4�•A, �l ox g4
"•:,, w 8rl2IidR FL 92802 -0640
,SPACE BELOW POR RECORDERS USE
RESOLUTION NO. 449
A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA,
AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE ALL
DOCUMENTS NECESSARY TO CLOSE ON THE PURCHASE OF THE
LUTTRELL PROPERTY FOR THE CONSTRUCTION OF A MUNICIPAL
COMPLEX FOR THE CITY OF WINTER SPRINGS; CONFLICTS AND
EFFECTIVE DATE.
WHEREAS, the City Commission has authorized the acquisition of
the Luttrell Property for the construction of a municipal complex for the
City of Winter Springs, Florida, and
WHEREAS, it is necessary for the Mayor and City Manager to
execute certain documents to close on the Luttrell property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF WINTER SPRINGS, FLORIDA:
SECTION I. That the Mayor and City Manager are hereby
authorized to execute all documents necessary to close on the purchase of
the Luttrell property for the municipal complex for the City of Winter
Springs.
SECTION II. That this resolution shall remain in force until
supplemented, amended, repealed or otherwise altered.
SECTION III. That all resolutions or parts of resolutions in
conflict with this resolution are hereby repealed.
SECTION IV. That this resolution shall take immediate effect
upon its passage and approval.
PASSED and ADOPTED this 1.?-a day of 1984.
CITY OF WINTER SPRINGS
y.,
JOH V. TORCASO, MAYOR
i
ATTEST:
CITY CLEIZI
C
�IINTEq' _.
`��rtyr
AGSM ^
Mrs. Madeleine M. Luttrell
1280 N. Orange Avenue
Winter Springs, Florida 32708
CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
WINTER SPRINGS, FLORIDA 32708
Telephone (305) 327 -1800
January 3, 1985
Reference: Contract for Sale and Purchase of Lots 1 through 25 including
Hoover Street and Luttrell Lane, Luttrell Park as recorded in
Plat Book 11, Page 44, Public Records of Seminole County,
Florida - Final Payment
Dear Mrs. Luttrell:
Per your letter of November 28, 1984 please find our check made out to
you in the amount of $71,616.65 as payment in full for the value of the
referenced property.
Construction of the municipal complex is well underway and we look
forward to occupying the facility the first week of August.
Thank you for your consideration in this matter and we look forward to
having you join us at the official opening of the facility.
Encl.
RR /mn
cc: Tom Lang
L ,
I TE SPRINGS
ozan y,
City Manager
�? WINTE.9 `
CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
WINTER SPRINGS, FLORIDA 32708
Telephone (305) 327 -1800
Jan. 3, 1985
Attorney Tom Lang
Swann & Haddock
P. 0. Box 640
Orlando, F1. 32802 -0640
Dear Attorney Lang:
Enclosed please find letter to Mrs. Luttrell from the City Manager for
your records.
enc.
Yours truly,
CITY OF WINTER SPRINGS
Mary T. Norton,
City Clerk
CERTIFIED MAIL
RECEIPT REQUESTED
November 28, 1984
City Commission
City of Winter Springs
City Hall
Winter Springs, Florida 32708
Re: Agreement Between M. M. Luttrell and City of Winter Springs.
Honorable Commission:
As you are aware subject Agreement was executed by the City and me
on June 15, 1984. It dealt with the City's purchase of my Hwy 419
property for a new municipal complex. Per this Agreement, please be
advised via this notice I am calling for payment of the balance of
SEVENTY -ONE THOUSAND SIX HUNDRED SIXTEEN AND 65/100 DOLLARS ($71,616.65)
30 days after receipt of this document. I trust these monies will be
made available to me the first week in January, 1985.
I await the order of your intent to disburse the aforementioned funds.
Respectfully Yours,
M. M. Luttrell
1280 N. Orange Ave.
Winter Springs, Florida 32708
(305) 327 -1309
MML:tb
JC A auu
D r,-SM y C4 M P*t'
CITY of WINTER SPRINGS
x,x
.N%NT&? ,
H CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
WINTER SPRINGS, FLORIDA 32708
Telephone (305) 327 -1800
August 27, 1984
Mr. James L. Robards
1860 Via Jenoa
Winter Park, Florida 32789
Dear Mr. Robards:
The City of Winter Springs has recently acquired a piece of
property almost directly across from the Indian Woods Mobile Home
Park. The purpose of the purchase was to acquire property, centrally
located, on which to construct a municipal complex. We are presently
in the engineering phase.
Mr. Gordon Monday, of Hampton, Monday and Associates, P.A., has
suggested I contact you regarding the possibility of your water company
supplying the City with water to the site.
Your consideration will be greatly appreciated. Should you require
additional information of a technical nature, please contact Mr. Monday
at 644 -2606 or my office at City Hall.
i cerely,
IYOFWNTRSPINGS
Ric and Roza y,�
City Manager
RR /mn
cc: City Attorney
City Manager
Hampton, Monday & Associates, P.A.
City Clerk
MEMO TO: Finance
CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
WINTER SPRINGS, FLORIDA 32708
Telephone (305) 327 -1800
SUBJECT: Revenue Improvement Bonds 1984 Series
DATE: June 14, 1984
1. Issue a check for $71,760.43 to Swann and Haddock, P.A. The purpose for the
check is to purchase the M. M. Luttrell property per contract dated February 17,
1984. The amount represents one -half of the purchase price and the City will
recoop the funds when the issue accounts are established.
2. Utilize line code 24 -61.1
RR /pkl
4- z�
Richard Rozan y
City Manager
ak r
CITY OF WINTER SPRINGS
GENERAL FUND
PH. 305 - 327 -1800
400 NORTH EDGEMON AVENUE
WINTER SPRINGS, FLORIDA 32708
WWARRANT" I ; .- „ 1 4, 7'
'7 �
VV
8N23643471 �f 1 Ir 4; "�
r
TO
THE
ORDER
OF
Swann and Haddock
Professional Association
TROPIC BAHIM
Casselberry, Florida 32707 OF 6E MINOLE
Winter Springs Office
June 14. 1984
11'00773711' ®i:063i08318i: 0 2 1 50000 6 411'
J�
7737
63 -831
631 2
IRED
C DETACH AND RETAIN THIS STATEMENT
CITY OF WINTER SPRINGS
THE ATTACHED CHECK IS IN PAYMENT OF ITEMS DESCRIBED BELOW.
GENERAL FUND IF NOT CORRECT PLEASE NOTIFY US PROMPTLY. NO RECEIPT DESIRED.
DELUXE -FORM WVC -2 V -2
DATE D E8 C R I PTI O N AMOUNT
6 -14 -84
To purchase the M. M. Luttrell property per contract dated
February 17, 1984; this check represents one -half of the purchase
price.
24 -61.1
$71,760.43
gom og. -Blnfo�td VYea.[t Co., -qnc.
425 Longwood - Oviedo eRoad
POit Office BOX 292
Untie eSfitingi, 9Cotida 32707
JP%one t305I 327-1315
Mr. Richard Rozansky, City Manager
City of Winter Springs
City Hall
Winter Springs, Florida 32708
ISCEaluzo
AW z, a
cnJ.at "As
an NNOwn
May 23, 1984 PCr�
Re: Closing on City Municipal Complex Property per M. M. Luttrell.
Dear Mr. Rozansky:
This letter will confirm our discussion of yesterday. Mrs. Luttrell
and Mr. Tom Lang, Winter Springs City Attorney, have agreed to close
on subject property on Friday, June 15, 1984. At that time it is
understood that title will be conveyed and funds disbursed. Mr. Lang
is to forward the closing documents to me for Mrs. Luttrell's perusal
several days prior to closing.
Sincerely,
Tom A. Binford, President
cc: M. M. Luttrell
Torn Lang
TAB: bb
ONTEq�
i
MEMORANDUM
CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
WINTER SPRINGS, FLORIDA 32708
Telephone (305) 327.1800
May 21, 1984
TO: Attorney Tom Lang /
FROM: Mary Norton, City Clerk %4a�
SUBJECT: Contract for site for City Hall
Enclosed please find a copy of the contract with Mrs.
M. M. Luttrell for the purchase of the site for the proposed municipal
complex for the City of Winter Springs.
Also enclosed is a copy of the Agenda for the Commission
Meeting on Tuesday, May 22, 1984.
Has Mr. Rozansky talked to you about Item D? If he hasn't
could you please call him.
AGREEMENT
9•D•
THIS AGREEMENT made this 61h day of WXa, y , 1984, by
and between the City of Winter Springs, hereinafter referred to
as the "City ", and Doudney Surveyors, Inc., hereinafter referred
to as the "Surveyor ", provides as follows:
1. Surveyor shall perform the following services for that
property wherein City is contemplating construction of its
municipal complex:
A. Complete architectural use survey
B. Topo with grades and contours
C. Easements
D. All access streets and roads adjacent
to the property
E. All sewer and water lines with invert
elevations
F. Power and telephone poles and lines
G. Trees over ten (10) inches in diameter
H. Boundary and legal description
I. Any other erratic normally found
on a complete survey.
DO
2. City shall pay Surveyor the sum of $ 6�O.OD per hour
for said services. Surveyor shall bill monthly for said services.
In no event shall Surveyor incur fees in excess of $3zDDEs.2, o for
the services listed in paragraph one above and in no event shall
the City be liable to Surveyor for any sum in excess of that
amount.
3. Surveyor guarantees the quality and accuracy of its
work.
4. Surveyor shall complete the work described herein on or
before day of 11kecA, �n 1984.
5. This agreement shall be construed in accordance with
Florida law.
1
DAVID A. DOUDNEY, t`esident RICHARD R. ROZA SKY City Manager
Doudney Surveyo�,-Inc. City of Winter pri gs
Srom d7. D&z fota' cReaft9 CO., _Ync.
425 Longwood - dr)" o'ZROad
Post Office Box 292
Wintc[ <-S#tings, 91o:ida 32707
IrzKonc 13031 327 -1315
Mr. Richard Rozansky, City Manager
City of Winter Springs
City Hall
Winter Springs, Florida 32708
FEB 2 81984
tUY of IWITER SPRINGS'
UIY NAIL
February 24, 1984
Re: Proposed Municipal Complex Site, Luttrell to City of Winter Springs.
Dear Mr. Rozansky:
As discussed previously, Mrs. Luttrell is ready for Doudney to survey
subject property. However, it would be more economical for all parties
if the survey, topo, etc. were conducted at the same time by Doudney.
Doudney requires both City and Luttrell permission to get started.
Mrs. Luttrell has no problem with closing in the offices of Swann and
Haddock, P.A., if that is what the City desires. However, she will
not pay any legal fees for closing. We can close at any title company
from which we acquire the title policy for no closing charges whatso-
ever except, ofcourse, for the normal charges for title policy, doc
stamps, etc. Incidentally, Mrs. Luttrell has agreed to let Swann and
Haddock, P.A. supp y e isle policy.
? Should you have any comments and /or questions regarding the above,
please advise.
Sincerely,
Tom A. Binford
cc:
M. M. Luttrell
TAB: bb
y
FFA 4 X984
u1.. of
err
EDMUND T. SAXA.JR.
PAUL H. BOWEN
JEANELLE G. BRONSON
PAUL F. BRYAN
DWIGHT 1. COOL
GRACE ANNE GLAVIN
EDWARD E. HADDOCK, JR.
ALLAN J. KAT2
FRANK C. KRUPPENSACHER
EDWARD L. KUTTER
THOMAS F. LANG
PETER G. LATHAM
PATRICIA RETHWILL MUELLER
RICHARD R.SWANN
THOMAS R. TEDCASTLE
MARTIN B. UNGER
DAVID A.WEBSTER
JAMES G. WILLARD
OF COUNSEL:
PERVIE P. SWANN
PATRICK F. MARONEY
i
REPLY TO: ORLANDO
February 22, 1984
Mr. Thomas A. Binford
425 Longwood- Oviedo Road
Winter Springs, Florida 32708
Dear Tom:
q
FFS2819
CITY of VIIIJER SpRiPIGS
CITY HALL
IN ORLANDO:
SUITE 1100
135 WEST CENTRAL BOULEVARD
POST OFFICE BOX 640
ORLANDO, FLORIDA 32502 -0640
(305) 425.3036
IN TALLAHASSEE:
SUITE SBO
BARNETT BANK BUILDING
315 SOUTH CALHOUN STREET
TALLAHASSEE, FLORIDA 32301
(9 04) 224-9634
Re: Luttrell s/t Winter Springs
We have returned the proposed contract for the purchase
of the Luttrell property to Dick Rozansky. To avoid any confusion,
I wanted to write to explain how I understood the proposed
transaction to be structured.
1. Closing will occur upon notification of the
closing of the Winter Springs Improvement
Bonds Series 1984 and the release of the
proceeds to City for appropriate distribution.
(Assuming all conditions precedent have been
satisfied.)
2. At closing, the buyer will receive a General
Warranty Deed and the seller will have no
further rights in or to the property and
shall be entitled solely to receive any
unpaid balance of the purchase price,
without interest, pursuant to one of the
"two pay -out" plans described in the contract
(preferably the two payment plan).
3. The buyer's obligation to pay shall be payable
solely from the proceeds of the Bond sale.
4. Any claim on the part of the seller to
non -ad- valorem revenues of the City shall
be junior and subordinated to the rights
of Bondholders of the City's Bonds. yr-Mr
aV
ZO
FEB 24 1984
nrry _s a oki"rrn nnniklnn
i .. i
Thomas A. Binford
February 22, 1984
Page Two
I do not foresee any problems with this arrangement and
I would anticipate two payments. The first payment in early
May of 1984 and the second payment upon completion of the
building (approximately February of '85).
Please contact me immediately if this explanation is
not consistent with your or the seller's understanding of the
transaction.
Very truly yours,
Thoma J g
TFL /tp
cc: Mr. Dick Rozansky
1
CITY OF WINTER SPRINGS
400 NORTH EDGEMON AVENUE
DEPARTMENT
PURCHASE ORDER
NO: 001312
WINTER SPRINGS, FLORIDA 32708
(305) 327 -1800
NO #UISITION
DATE: DEPARTMENT: SIGNATURE:
2/22/84 General Government
VENDOR NAME DATE ORDERED
Tom A. Binford Realty Co., Inc.
P.O.Box 292
Winter Springs, F1. 32708
QTY
UNIT
D E S C R I P T I O N
UNIT
TOTAL
ORDERED
PRICE
PRICE
For down _payment (Deposit) for purchase of
-
Luttrell Property for Municipal Complex
- -L
500.00
Charge Line Code: 24 -31.3A Amount: 500.00 Balance: 12,875.00
Charge Line Code:
Amount:
Balance:
Charge Line Code: Amount: Balance:
Charge Line Code: Amount: Balance:
Charge Line Code: Amount: •' .Balance: TOTAL: $500.00
FINANCE OFFICE App ove� Disapproved Dateo2-v2oZ
CITY MANAGER Appro#a5' disapproved Date
'ate Paid: � 002 "�' Amour fi `�P id: ° �y� Check NO:
INTEq'''
r
' 7
CITY OF WINTER SPRINGS, FLORIDA
400 NORTH EDGEMON AVENUE
' 4
WINTER SPRINGS, FLORIDA 32708
rj s'y
Telephone (305) 327 -1800
February 20, 1984
Frank Kruppenbacher, Esq.
Swann & Haddock
135 W. Central Blvd. Suite 1100
P. 0. Box 640
Orlando, Florida 32802 -0644
Reference: Luttrell Contract (February 17, 1984)
Dear Frank:
Attached please find a copy of the Luttrell Contract executed by the
Mayor and Mrs. Luttrell.
The owner made changes to paragraphs 1 and 6 of the Special Clauses.
We need to set down and resolve the matter as quickly as possible as I
believe she will be leaving the country shortly.
S cerely,
Pi a Rozansky
City Manager
RR /pkl
Enclosure
nk
gom c�T. J(3&2 foxd GREa1t, Co., _YnC.
425 Longwood - Ouizdo zRoad
Jn- ost Office -Box 292
taint- <S- #%in9s, 910aida 32707
PAone %3051 327 -1315
February 17, 1984
Mr. Richard Rozansky, City Manager
City of Winter Springs
City Hall
Winter Springs, Florida 32708
Re: Contract For Sale And Purchase; Luttrell to City of Winter Springs.
Dear Mr. Rozansky:
Subject contract has been executed by M. M. Luttrell. However, please
note the changes made in Articles 1. and 6. of EXHIBIT "A" SPECIAL
CLAUSES.
The last 3 lines of Article 1. Calculation of Purchase Price have
been deleted. Should you extrapolate Hoover Street, Luttrell Lane,
and South z of Second Street from the total acreage, Mrs. Luttrell
would only be aid for approximately 6 acres (est'd $113,000 versus
est'd $143,300 . Mrs. Luttrell will offer you one of three alterna-
tives here. (1) Accept Article 1. as amended. (2) Mrs. Luttrell will
have the above roads vacated by the County and then will sell them to
the City. Or (3), Mrs. Luttrell will sell the City Luttrell Park as
recorded for the sum of $143,338.93 regardless of the acreage ascertained
by survey.
Article 6. Balance to Close leaves too much discretion to the City.
As amended, the pay -off determinations are more finite and equitable
for Mrs. Luttrell.
Respectfully Submitted,
Tom A. Binford, Ag t
Enclosures 2
FEB ?0 184 cc: M. M. Luttrell
TAB : bb
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HN1\\
j RESOLUTION NO._�''
A RESOLUTION PROVIDING FOR THE ACQUISITION, CONSTRUC-
TION AND ERECTION OF MUNICIPAL IMPROVEMENTS FOR THE
CITY OF WINTER SPRINGS, FLORIDA: AUTHORIZING THE
ISSUANCE BY THE CITY OF NOT EXCEEDING $3,900,000
IMPROVEMENT REVENUE BONDS, SERIES 1984 TO FINANCE A
PART OF THE COST THEREOF; PROVIDING FOR THE PAYMENT
OF THE BONDS; PROVIDING FOR THE RIGHTS OF THE HOLDERS
OF THE BONDS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Winter Springs, Florida (the "City "), pursuant to
Resolution No. 251, duly adopted by the City Council of the City on February 27, 1979
(the "Original Resolution "), authorized the City's Improvement Revenue Bonds, Series
1979 (the "Parity Bonds "); and
WHEREAS, the City desires to issue additional bonds payable on a parity with,
and subject to the same terms, limitations and conditions as the Parity Bonds, all in the
manner hereinafter set forth; NOW THEREFORE
BE IT RESOLVED BY THE PEOPLE OF THE CITY OF WINTER SPRINGS,
FLORIDA, as follows:
ARTICLE I
GENERAL
Section 1.01. Authority for this Resolution. This Resolution is adopted
pursuant to the provisions of Chapter 72 -718, Laws of Florida, Special Acts of 1972, as
amended and supplemented being the Charter of the City of Winter Springs, Chapter 166,
Part II, Florida Statutes, and other applicable provisions of law, and pursuant to Article IV
Section 18 of the Original Resolution, and is supplemental to said Original Resolution.
Capitalized terms used in this Resolution shall have the same meanings assigned to them
in the Original Resolution unless otherwise specified herein.
Section 1.02. Findings. It is hereby found and determined that:
(A) It is necessary and desirable and in the interests of the health, welfare
and safety of the citizens and inhabitants of the City that land be acquired and a
municipal complex constructed thereon, such complex comprising a building and/or
buildings housing administrative offices and the police department, together with
improvement and paving of certain streets of the City, particularly Moss Road, including
other purposes necessary, incidental or appurtenant thereto (herein called "Municipal
Improvements ").
The Municipal Improvements described above shall be constructed and under-
taken in accordance with plans and specifications therefor prepared by the consulting
engineers, at an estimated cost of not exceeding $3,900,000, which shall be paid with the
proceeds of the sale of the Bonds herein authorized (the "1984 Bonds "). The cost of the
LKL- 01/05/84 -627A -1567
Rev.01 /08/83
Rev.01 /12/84 -1-
I
construction of said Municipal Improvements shall be deemed to include, without being
limited to, the acquisition of any lands or interest therein, engineering, financial and legal
expenses, a reasonable reserve for debt service, expenses for plans, specifications and
surveys, interest during construction, if any, bond discount, if any, bond insurance, if any,
administrative expenses and such other expenses as may be necessary or incidental to the
financing authorized by this Resolution, including the cost of any fixtures, equipment or
property necessary or convenient therefor, and the construction and acquisition of the
Municipal Improvements authorized by this Resolution and the placing of same in
operation.
(B) Pursuant to authority contained in Section 166.231, Florida Statutes, and
other applicable provisions of law, the City of Winter Springs did, under date of October
24, 1977, enact an ordinance levying a tax (hereinafter called "Public Service Tax "), on
each and every sale of electricity, metered or bottled gas, water, local telegraph and
telephone service within the corporate limits of the City, and it is deemed necessary and
desirable to pledge the proceeds of the Public Service Tax to the payment of the principal
of and interest on the Bonds to be issued pursuant to this Resolution.
(C) Pursuant to its Charter and other applicable provisions of law, the City
of Winter Springs did, under date of May 3, 1971, as the Village of North Orlando
(predecessor to said City of Winter Springs), enact an ordinance by which the city granted
to the Florida Power Corporation, for a period of thirty years from July 1, 1971, a
franchise to construct, maintain and operate electric light and power facilities for the
purpose of supplying electricity to the City and its inhabitants. In consideration of the
granting of said franchise and pursuant to said ordinance, said Florida Power Corporation,
its legal representatives, successors and assigns, is required to pay annually to said City,
and the City has the power to levy and collect, an amount which added to the amount of
all taxes, licenses and other impositions levied or imposed by the City on the Corporation
for the preceding tax year, will equal six percent (6%) of the revenues of said Florida
Power Corporation from the sale of electric energy in the City (hereinafter referred to as
"Franchise Fees "); that is deemed necessary and desirable to pledge the proceeds of the
Franchise Fees available for such purpose to the payment of the principal of and interest
on the Bonds to be issued pursuant to this Resolution.
(D) The Public Service Tax and Franchise Fees (hereinafter collectively
called "Excise Taxes ") will be sufficient to pay, as the same shall become due and payable,
the principal of and interest on the 1984 Bonds and the principal of and interest on the
Parity Bonds.
LKL- 01/12/84 -627A -1567 -2-
(E) The City is not in default in the performance of any of its covenants or
obligations under the Original Resolution, and all payments required as of this date to be
made to the funds and accounts established under the Original Resolution have been made
to the full extent required.
(F) The City is authorized to issue the 1984 Bonds as additional parity
obligations within the authorization contained in Article N, Section 18 of the Original
Resolution, and all provisions for • the issuance of Additional Parity Bonds under said
Article N Section 18 have been met. The 1984 Bonds shall be issued on the same terms
and conditions as the Parity Bonds and shall be on a parity and rank equally, as to lien on
and source and security for payment solely from Excise Taxes.
(G) This instrument is declared to be and shall constitute a contract between
the City and all of the holders of the 1984 Bonds; and the covenants and agreements
herein set forth to be performed by the City are and shall be for the equal benefit,
protection and security of all of the legal holders of any and all of the 1984 Bonds, all of
which shall be of equal rank and without preference, priority or distinction of any of the
1984 Bonds over any other.
(H) The City is not, under this instrument, obligated to levy any ad valorem
taxes on any real or personal property situated within its corporate territorial limits to
pay the principal of or interest on the Bonds or to pay the cost of maintaining, repairing
and operating the System. The 1984 Bonds shall not constitute a lien upon any property of
the City situated within its corporate territorial limits.
Section 1.03. Project Authorized. The City is hereby authorized to con -
struct the Project as defined in Section 1.02 (A) above.
LKL-01/08/84 -627A -1567 -3-
ARTICLE II
AUTHORIZATION, TERMS, EXECUTION AND REGISTRATION OF 1984 BONDS
Section 2.01. Authorization of 1984 Bonds. Subject and pursuant to the
provisions of this Resolution, obligations of the City to be known as "Improvement
Revenue Bonds, Series 1984" (the 111984 Bonds ") are hereby authorized to be issued in an
aggregate principal amount not exceeding $3,900,000 for the purpose of providing funds to
pay a part of the cost of the Project.
Section 2.02. Description of 1984 Bonds. The 1984 Bonds shall be dated as of
, 1984; shall be numbered consecutively, from one upward; shall be in the
denomination of $5000 each or integral multiples thereof; shall bear interest at such rates
not exceeding the legal rate per annum, payable on October 1, 1984 and semiannually
thereafter on April 1 and October 1 of each year; and shall be in the denominations, be
numbered and mature on April 1 of each year; as the City shall hereafter by resolution
designate. Each 1984 Bond shall bear interest from the date of its authentication and
delivery. The 1984 Bonds shall be in fully registered form, shall be payable with respect
to principal at the corporate trust office of the paying agent hereafter named; and shall
be payable in lawful money of the United States of America payable in accordance with
and pursuant to the terms of this Resolution and the 1984 Bonds. Interest on the 1984
Bonds shall be payable by draft or check mailed to the person in whose name such Bond is
registered, at his address as it appears on the Bond Register, at the close of business on
the 15th day of the month (whether or not a business day) next preceding the interest
payment date (the "Record Date ") irrespective of any transfer of this Bond subsequent to
such interest payment date, unless the City shall be in default in payment of interest due
on such interest payment date. In the event of any such default, such defaulted interest
shall be payable to the person in whose name this Bond is registered at the close of
business on a special record date for the payment of defaulted interest as established by
notice mailed by the Registrar to the Registered Holder of the Bond not less than fifteen
days preceding such special record date. Such notice shall be mailed to the person in
whose name such Bond is registered at the close of business on the fifth (5th) day
preceding the date of mailing. All amounts due hereunder shall be payable in any coin or
currency of the United States, which is, at the time of payment, legal tender for the
payment of public and private debts.
LKL- 01/12/84 -627A -1567 -4-
Section 2.03. Negotiability and Registration.
A. The 1984 Bonds shall be and shall have all of the qualities and incidents
of negotiable instruments under the Uniform Commercial Code - Investment Securities of
the State of Florida, and each successive holder, in accepting any of the 1984 Bonds shall
be conclusively deemed to have agreed that such Bonds shall be and have all of the
qualities and incidents of negotiable instruments under the Uniform Commercial Code -
Investment Securities of the State of Florida.
B. The City shall cause books for the registration and the transfer of the
1984 Bonds to be kept by the Registrar. Bonds may be transferred upon the registration
books, upon delivery to the Registrar, if the Bonds are accompanied by written instrument
or instruments of transfer in form and with guaranty of signature satisfactory to the City
and the Registrar, duly executed by the owner of the Bonds to be transferred or his
attorney -in -fact or legal representative, containing written instructions as to the details
of the transfer of such Bonds, along with the social security number or federal employer
identification number of such transferee and, if such transferee is a trust, the name and
social security or federal employee identification numbers of the settlor and beneficiaries
of the trust, the date of the trust and the name of the trustee. No transfer of any Bond
shall be effective until entered on the registration books maintained by the Registrar.
C. In all cases of the transfer of a 1984 Bond, the Registrar shall enter the
transfer of ownership in the registration books and shall authenticate and deliver in the
name of the transferee or transferees a new fully registered Bond or Bonds of authorized
denominations of the same maturity and interest rate for the aggregate principal amount
which the registered owner is entitled to receive at the earliest practicable time in
accordance with the provisions of this Resolution. The City or the Registrar may charge
the owner of such Bond for every such transfer of a Bond in an amount sufficient to
reimburse them for their reasonable fees and for any tax, fee, or other governmental
charge required to be paid with respect to such transfer, and may require that such charge
be paid before any such new Bond shall be delivered.
D. All 1984 Bonds delivered upon transfer or exchange shall bear interest
from such date that neither gain nor loss in interest shall result from the transfer or
exchange.
E All 1984 Bonds presented for transfer, exchange, redemption or payment
(if so required by the City), shall be accompanied by a written instrument or instruments
of transfer or authorization for exchange, in form and with guaranty of signature
LKL- 01/08/84 -027A -1567 -5-
r
satisfactory to the City, duly executed by the registered holder or by his duly authorized
attorney.
F. The City may charge the Bondholders a sum sufficient to reimburse the
City for any expenses incurred in making any exchange or transfer of 1984 Bonds, and the
City may require payment from the Bondholder of a sum sufficient to cover any tax, fee
or other governmental charge that may be imposed in relation thereto. Such charges and
expenses shall be paid before any such new 1984 Bond shall be delivered.
G. The Registrar shall not be required (i) to transfer or exchange any 1984
Bonds during a period beginning at the opening of business on the 15th business day next
preceding either any interest payment date or any date of selection of 1984 Bonds to be
redeemed and ending at the close of business on the interest payment date or day on
which the applicable notice of redemption is given or (ii) to transfer or exchange any 1984
Bonds selected, called or being called for redemption in whole or in part.
H. New 1984 Bonds delivered upon any transfer or exchange shall be valid
limited obligations, evidencing the same debt as the 1984 Bonds surrendered, shall be
secured by this Resolution and shall be entitled to all of the security and benefits hereof
to the same extent as the 1984 Bonds surrendered.
I. The person in whose name is registered any 1984 Bond may be deemed
the owner thereof by the City, and any notice to the contrary shall not be binding upon
the City.
Section 2.04. Provisions for Redemption. 1984 Bonds shall be subject to
redemption prior to their respective stated dates of maturity, at the option of the City, at
such times and in such manner as may be fixed by resolution of the City adopted prior to
the delivery of the 1984 Bonds.
Provided, however, that at least thirty (30) days prior to the redemption date,
written notice of such redemption shall be given to the paying agents for the 1984 Bonds
and to each of the registered owners at their respective addresses as they appear upon the
registration books of the Registrar.
Section 2.05. Execution of Bonds. The 1984 Bonds shall be executed in the
name of the City by its Mayor, and the corporate seal of the City or a facsimile thereof
shall be impressed thereon, attested and countersigned by its Clerk. The facsimile
signature of such officers may be imprinted or reproduced on the Bonds, provided that at
least one signature required to be placed thereon shall be manually subscribed. In case
any one or more of the officers who shall have signed or sealed any of the 1984 Bonds or
LK L-01 /0 8/84 -62? A- 156? -6-
whose facsimile signature shall appear thereon shall cease to be such officer of the City
before the 1984 Bonds so signed and sealed have been actually sold and delivered, such
1984 Bonds may nevertheless be sold and delivered as herein provided and may be issued
as if the person who signed or sealed such Bonds had not ceased to hold such office. The
validation certificate endorsed on the 1984 Bonds shall be executed with the manual or
facsimile signature of the Mayor. Any 1984 Bond -may be signed and sealed on behalf of
the City by such person who at the actual time of the execution of such 1984 Bond shall
hold the proper office of the City, although at the date of such 1984 Bonds such person
may not have held such office or may not have been so authorized. The City may adopt
and use for such purposes the facsimile signatures of any such persons who shall have held
such offices at any time after the date of the adoption of this instrument, notwithstanding
that either or both shall have ceased to hold such office at the time the 1984 Bonds shall
be actually sold and delivered.
Section 2.06. 1984 Bonds Mutilated, Destroyed, Stolen or Lost. In case any
1984 Bond shall become mutilated, or be destroyed, stolen or lost, the City may in its
discretion issue and deliver a new 1984 Bond of like tenor as the 1984 Bond so mutilated,
destroyed, stolen or lost, in exchange and substitution for such mutilated 1984 Bond, upon
surrender and cancellation of such mutilated 1984 Bond, or in lieu of and substitution for
the Bond destroyed, stolen or lost, and upon the owner furnishing the City satisfactory
indemnity and complying with such other reasonable regulation and conditions as the City
may prescribe and paying such expenses as the City may incur. All 1984 Bonds so
surrendered shall be cancelled by the Clerk. If any such Bonds shall have matured or be
about to mature, instead of issuing a substitute 1984 Bond the City may pay the same,
upon being indemnified as aforesaid, and if such 1984 Bond be lost, stolen or destroyed,
without surrender thereof.
Any such duplicate 1984 Bonds issued pursuant to this section shall constitute
original, additional contractual obligations on the part of the City whether or not the lost,
stolen or destroyed 1984 Bonds be at any time found by anyone, and such duplicate 1984
Bonds shall be entitled to equal and proportionate benefits and rights as to lien on and
source and security for payment from the funds, as hereinafter pledged, to the same
extent as all other 1984 Bonds issued hereunder.
Section 2.07. Form of 1984 Bonds. The text of 1984 Bonds shall be in
substantially the following form, with only such ommissions, insertions and variations as
may be necessary and /or desirable and approved by the Mayor prior to the issuance
LKL-01 /08/84 -627A -1567 -7-
thereof (which necessity and /or desirability and approval shall be presumed by his
execution of the Bonds and the City's delivery of the 1984 Bonds to the purchaser
thereof):
LKL-01/08/84 -627A- 1567 -8-
No. R-
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF FLORIDA
CITY OF WINTER SPRINGS
IMPROVEMENT REVENUE BONDS, SERIES 1884
Interest Rate Maturity Date Date of Original Issue Cusi
Registered Owner:
Principal Amount:
Dollars
KNOW ALL MEN BY THESE PRESENTS, that the City of Winter Springs,
Florida, a municipal corporation created and existing under and by virtue of the laws of
the State of Florida (the "City "), for value received, hereby promises to pay on the
Maturity Date identified above, to the Registered Owners identified above, or registered
assigns, the Principal Amount shown above solely from the revenues hereinafter
mentioned, and to pay solely from such revenues, interest on said sum, from the Date of
Original Issue, at the Rate of Interest per annum set forth above until payment of such
sum, such interest being payable on October 1, 1984 and semiannually thereafter on the
first days of April and October in each year. The principal of and premium, if any, on this
Bond are payable at , , as Paying Agent, or
its successor, in lawful money of the United States of America. Payment of the interest
hereon shall be made in lawful money of the United States of America to the registered
owner hereof by check or draft mailed to such registered owner at his address as it
appears on the registration books of , as Registrar, or at such other
address as is timely furnished in writing by such registered owner to the Paying Agent, at
the close of business on the 15th day of the month (whether or not a business day) next
preceding the interest payment date (the "Record Date ") irrespective of any transfer of
this Bond subsequent to such interest payment date, unless the City shall be in default in
payment of interest due on such interest payment date. In the event of any such default,
such defaulted interest shall be payable to the person in whose name this Bond is
registered at the close of business on a special record date for the payment of defaulted
interest as established by notice mailed by the Registrar to the Registered Holder of the
Bond not less than fifteen days preceding such special record date. Such notice shall be
mailed to the person in whose name such Bond is registered at the close of business on the
LK L-01 /0 8 /84 -627 A -1567 -9-
fifth (5th) day preceding the date of mailing. All amounts due hereunder shall be payable
in any coin or currency of the United States, which is, at the time of payment, legal
tender for the payment of public and private debts.
This Bond is one of an authorized issue of Bonds in the aggregate principal
amount of $ of like date, tenor and effect, except as to number, denomina-
tion, interest rate (if all Bonds do not bear the same rate of interest) and date of
maturity, issued to finance a part of the cost of acquisition of land and the construction
thereon of a municipal complex consisting of administration offices and a police station,
together with improvement and paving of certain streets of the City, particularly Moss
Road, all in the City of Winter Springs, under the authority of and in full compliance with
the Constitution and Statutes of the State of Florida, particularly Chapter 72 -718, Laws
of Florida, Special Acts of 1972, as amended and supplemented, Chapter 166, Part 11,
Florida Statutes, and other provisions of law, and Resolution No. 251, duly adopted by the
City on February 27, 1979, as amended and supplemented (the "Original Resolution "), and
particularly as supplemented by a resolution of the City duly adopted on January 10, 1984,
as amended and supplemented (such Original Resolution and resolution are collectively
referred to as "Resolution"), and is subject to all the terms and conditions of the
Resolution.
This Bond and the interest hereon are payable solely from and secured by a
lien upon and a pledge of the proceeds of the Public Service Tax imposed by the City on
the purchase of certain utilities services within the corporate limits of the City, under the
authority of Section 166.231, Florida Statutes, and pursuant to an ordinance enacted by
the City on October 24, 1977, and the proceeds of Franchise Fees to be paid for a period
of thirty (30) years from July 1, 1971, by the Florida Power Corporation, pursuant to an
ordinance enacted by the former Village of North Orlando (predecessor to the City) on
May 3, 1971 (such tax and fees, above described, are herein collectively referred to as
"Excise Taxes ") in the manner provided in the Resolution.
It is provided in the Resolution that the Bonds of this issue will rank on a
parity, equally and ratably, as to lien on and pledge of the Excise Taxes with the City's
Improvement Revenue Bonds issued in the original principal amount of $600,000,
authorized by Resolution No. 251, duly adopted by the City on February 279 1979 (herein
referred to as the "Parity Bonds ").
This Bond does not constitute an indebtedness of the City within the meaning
of any Constitutional, statutory or charter provisions or limitations. It is expressly agreed
LKL-01/08/84 -627A -1567 -10-
by the holder of this Bond, that such holder shall never have the right to require or compel
the exercise of the ad valorem taxing power of said City, or the taxation of real estate in
said City, for the payment of the principal of and interest on this Bond or the making of
any sinking fund, reserve, or other payments provided for in the Resolution. It is further
agreed between the City and the holder of this Bond that this Bond and the obligation
evidenced thereby shall not constitute alien upon any property of or in the City, but shall
constitute a lien only on the Excise Taxes in the manner provided in said Resolution.
(Insert Redemption Provisions)
Notice of such redemption shall be given in the manner required by the
Resolution.
It is hereby certified and recited that all acts, conditions and things required
to exist, to happen and to be performed precedent to and in the issuance of this Bond,
exist, have happened and have been performed, in regular and due form and time as
required by the Laws and Constitution of the State of Florida applicable thereto, and that
the issuance of this Bond, and of the issue of Bonds of which this Bond is one, does not
violate any constitutional, statutory or charter limitations or provisions.
This Bond shall have such attributes of negotiability as are provided for under
the Uniform Commerical Code - Investment Securities of the State of Florida.
IN WITNESS WHEREOF, the City of Winter Springs, Florida, has issued this
Bond and has caused the same to be executed in its name and on its behalf by its Mayor
and its corporate seal to be impressed hereon, and attested and countersigned by its
Clerk, all as of , 19
CITY OF WINTER SPRINGS, FLORIDA
Mayor
(SEAL)
ATTESTED AND COUNTERSIGNED:
Clerk
LKL- 01/08/84 -627A -1567 -11-
i
VALIDATION STATEMENT
This Bond is one of a series of Bonds which has been validated by judgment of
the Circuit Court for Seminole County, Florida rendered on , 19
LKL- 01/08/84 -627A -1567
Mayor
-12-
PROVISION FOR ASSIGNMENT
FOR VALUE RECEIVED, the undersigned
(the "Transferor ") hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints
(insert social security or taxpayer identification number of Transferee) (the
"Transferee ") , as attorney to register the transfer of the within Bond on the
books kept for registration thereof, with full power of substitution in the premises.
Dated
Signature Guaranteed
Date of Authentication:
CERTIFICATE OF AUTHENTICATION OF BOND REGISTRAR
This Bond is one of the issue of the within described Bonds. The Rate of
Interest, Maturity Date, Registered Holder and Principal Amount shown above are correct
in all respects and have been recorded, along with the applicable federal taxpayer
identification number and the address of the Registered Holder, in the Bond Register
maintained at the office of the undersigned.
By
Authorized Signature
LKL-01 /08/84 -627A -1567 -13-
ARTICLE III
COVENANTS, SPECIAL FUNDS AND APPLICATION THEREOF
Section 3.01. 1984 Bonds Not to be Indebtedness of City. The 1984 Bonds
shall not be or constitute general obligations or indebtedness of the City as "Bonds" within
the meaning of all statutory and constitutional provisions of the State of Florida, but shall
be payable solely from and secured by a lien upon and pledge of the Excise Taxes, as
herein provided. No owner or holder of any 1984 Bond issued hereunder shall ever have
the right to compel the exercise of any ad valorem taxing power to pay such 1984 Bond or
the interest thereon, or be entitled to payment of such 1984 Bond from any funds of the
City except from the Excise Taxes, in the manner provided herein.
Section 3.02. Security for 1984 Bonds. The payment of the debt service of
all of the 1984 Bonds issued hereunder shall be secured forthwith equally and ratably by a
pledge of and a lien upon the Excise Taxes collected by the City, such lien to be on a
parity with the pledge of and lien upon the Excise Taxes pledged for the Parity Bonds.
The City does hereby irrevocably pledge such funds to the payment of the principal of and
interest on the 1984 Bonds and to the payment into the Sinking Fund at the times provided
of the sums required to secure to the holders of the 1984 Bonds issued hereunder the
payment of the principal of and interest thereon at the respective maturities of the 1984
Bonds so held by them.
Section 3.03. Application of 1984 Bonds Proceeds. All moneys received from
the sale of the 1984 Bonds to be issued under the provisions of this Resolution shall be
disbursed and applied as hereinafter provided.
(A) Accrued interest, if any, received upon the delivery of the 1984 Bonds
shall be deposited in the Sinking Fund.
(B) Costs of issuance of the 1984 Bonds shall be deposited into a special
account of the Construction Fund referred to below and used for paying costs of issuing
the 1984 Bonds.
(C) An amount equal to the largest amount of principal and interest which
will mature and become due in any ensuing fiscal year on the 1984 Bonds shall be
deposited into the Reserve Account in the Sinking Fund.
(D) The balance of the proceeds of sale of the Bonds shall be deposited by
the City in a special fund in a bank or trust company and designated the "Construction
Fund", and shall only be used for and applied by the City solely to the payment of the cost
of the Municipal Improvements, as provided in this Resolution, and for no other purpose.
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` If for any reason the moneys in said Construction Fund, or any part thereof, are not
necessary for, or are not applied to the purposes provided in this Resolution, then such
unapplied proceeds shall be deposited by the City, upon certification by the consulting
engineers that the Municipal Improvements have been completed and that such surplus
proceeds are not needed for the payment of the cost thereof, to pay the cost of other
paving and drainage improvements or, in the discretion of the City, may be deposited into
the Sinking Fund, held therein and used solely for the purpose of said Fund.
The holders of the 1984 Bonds shall have no responsibility for the use of, nor
have any lien upon, such moneys, but shall have a lien only upon the Excise Taxes, as
herein provided. Such proceeds of sale of the 1984 Bonds, pending their use in the manner
in this Resolution provided, may be temporarily invested by the City in direct obligations
of the United States of America or in bank Certificates of Deposit maturing not later
than the dates upon which such moneys will be needed. The income from such
investments shall remain in said Construction Fund and shall be considered trust or escrow
f unds.
The City's share of any liquidated damages or other moneys paid by defaulting
contractors or their sureties, and all proceeds of insurance compensating for damages to
the Project during the period of construction, shall be deposited in the Construction
Account to assure completion of the Project.
When the Construction of the Project has been completed and all construction
costs have been paid in full, all funds remaining in the Construction Account shall be
deposited in the Sinking Fund, and the Construction Account shall be closed.
Section 3.04. Covenants of the City. So long as any of the principal of,
interest on and redemption premiums, if any, with respect to any of the 1984 Bonds shall
be outstanding and unpaid, or until provision for payment thereof has been made pursuant
to Section 4.04 of this Resolution, or until there shall have been set apart in the Sinking
Fund, including the Reserve Account therein, a sum sufficient to pay, when due, the
entire principal of the 1984 Bonds remaining unpaid, together with interest accrued and to
accrue thereon, the City covenants with the holders of any and all of the 1984 Bonds
issued pursuant to this instrument as follows:
The 1984 Bonds shall for all purposes be considered to be additional parity
obligations issued under the authority of Article IV Section 18 of the Original Resolution
and shall be entitled to all the protection and security provided therein for the Parity
Bonds, as respectively issued, and shall be in all respects entitled to the same security,
rights and privileges enjoyed by the Parity Bonds as to payment from the Excise Taxes
LKL- 01/12/84 -627A -1567 -15-
therein pledged. The covenants and pledges contained in the Original Resolution shall be
applicable to the 1984 Bonds in like manner as applicable to the Parity Bonds. The
principal of, interest on and redemption premiums on the 1984 Bonds shall be payable
from the Sinking Fund established by the Original Resolution on a parity with the Parity
Bonds and payments from the sources set forth in the Original Resolution shall be made
into such Sinking Fund by the City in amounts fully sufficient to pay the principal of and
interest on the Parity Bonds and the principal and interest on the 1984 Bonds as such
principal and interest come due. The Reserve Account established by the Original
Resolution shall be applicable pro rata to the 1984 Bonds in the same manner as applicable
to the Parity Bonds.
The City covenants that it will continue to levy and collect the Excise Taxes,
in such amount as will be sufficient to pay all principal and interest on the Parity Bonds
and all principal and interest on the 1984 Bonds as such principal and interest come due.
The City covenants and agrees that it will take no action which will cause lower Excise
Taxes to be levied and collected than would be sufficient to pay all principal and interest
on the Parity Bonds and all principal and interest on the 1984 Bonds as the same shall
become due.
LKL- 01/12/84 -627A -1567 -16-
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01. Modification or Amendment. No material modification or
amendment of this instrument or of any instrument amendatory hereof or supplemental
hereto, may be made without the consent in writing of the holders of two - thirds or more
in principal amount of the 1984 Bonds then outstanding; provided, however, that no
modification or amendment shall permit a change in the maturity of such 1984 Bonds or a
reduction in the rate of interest thereon, or in the amount of the principal obligation, or
affect the unconditional promise of the City to levy and collect the Excise Taxes, or to
pay the principal of and interest on the 1984 Bonds as the same shall become due from the
Excise Taxes, or reduce the percentage of such 1984 Bonds the written consent of the
holders of which are required by this Section for such modifications or amendments,
without the consent of the holders of all such 1984 Bonds.
Section 4.02. Creation of Superior Liens. The City covenants that except as
provided in the Resolution, it will not issue any other Bonds, certificates or obligations of
any kind or nature or create or cause or permit to be created any debt, lien, pledge,
assignment or encumbrance or charge payable from or enjoying a lien upon the Excise
Taxes ranking prior and superior to or on a parity with the lien created by this Resolution
for the benefit of the 1984 Bonds.
Section 4.03. Arbitrage. The City at all times while the 1984 Bonds and the
interest thereon are outstanding will comply with the requirements of Section 103(c) of
the Internal Revenue Code of 1954 and any valid and applicable rules and regulations
promulgated thereunder.
Section 4.04. Defeasanee. If, at any time, the City shall have paid, or shall
have made provision for payment of, the principal, interest and redemption premiums, if
any, with respect to the 1984 Bonds, then, and in that event, the pledge of and lien on the
Excise Taxes in favor of the holders of the 1984 Bonds shall be no longer in effect. For
purposes of the preceding sentence, deposit of United States Government Securities or
bank certificates of deposit secured as to principal and interest by United States
Government Securities (or deposit of any other securities which may be authorized by law
from time to time and sufficient under such law to effect such a defeasance) in
irrevocable trust with a banking institution or trust company, for the sole benefit of the
Bondholders, in respect to which such United States Government Securities or certificates
of deposit, the principal and interest received will be sufficient to make timely payment
LKL-01 /08/84 -627A -1567 -17-
r
of the principal, interest, and redemption premiums, if any, on the outstanding 1984
Bonds, shall be considered "provision for payment ". Nothing herein shall be deemed to
require the City to call any of the outstanding 1984 Bonds for redemption prior to
maturity pursuant to any applicable optional redemption provisions, or to impair the
discretion of the City in determining whether to exercise any such option for early
redemption.
Section 4.05. Severability of Invalid Provisions. If any one or more of the
covenants, agreements or provisions of this Resolution or of the 1984 Bonds should be held
contrary to any express provision of law or contrary to the policy of express law, though
not expressly prohibited, or against public policy, or shall for any reason whatsoever be
held invalid, then such covenants, agreements or provisions shall be null and void and shall
be deemed separate from the remaining covenants, agreements or provisions of this
Resolution and of the 1984 Bonds.
Section 4.06. Sale of 1984 Bonds. The 1984 Bonds shall be issued and sold in
such mannner and at such price or prices consistent with the provisions of this Resolution,
all at one time or in installments from time to time, as shall be hereafter determined by
resolution of the governing body of the City.
Section 4.07. Validation Authorised. The City Attorney is hereby authorized
and directed to institute appropriate proceedings in the Circuit Court for Seminole
County, Florida, for the validation of the 1984 Bonds and the proper officers of the City
are hereby authorized to verify on behalf of the City any pleadings in such proceedings.
Section 4.08. Conflicts Repealed. All resolutions or parts of resolutions in
conflict herewith are hereby repealed.
Section 4.09. Effective Date. This instrument shall take effect immediately
upon its passage.
Passed this 10th day of January, 1984, A.D.
(SEAL)
(ATTEST)
B`•
Y G
City Clerk
CITY OF WINTER SPRINGS, FLORIDA
LKL-01/08/84 -627A -1567 -18-
x
STATE OF FLORIDA
COUNTY OF SEMINOLE
I, Mary T. Norton, City Clerk of the City of Winter Springs, Florida, do hereby
certify that the above and foregoing is a true and correct copy of a resolution as the same
was duly adopted at a meeting of the City Council held on the 10th day of January, 1984,
and as the same appears on record in my office.
IN WffNFSS WHEREOF, 1 have hereunto set my hand and official seal this
day of January, 1984.
(SEAL)
By: "
City Clerk
LKL-01/08/84 -627A -1567 -19-
gom c4. Bin join eRea.Cty do., Ate.
qrs Long..d - Dn/sclo --Road
9 o6a offic, Box 292
CK.Ut 4atn91, 9to..4da P707
}�ioas (% 3Y7-idM
February 17, 1984
Mr. Richard Rozansky, City Manager
City of Winter Springs
City Hall
Winter Springs, Florida 32708
Re: Contract For Sale And Purchase; Luttrell to City of Winter Springs.
Dear Mr. Rozanskyt
Subject contract has been executed by M. M. Luttrell. However, please
note the changes made in Articles 1. and 6. of EXHIBIT "A" SPECIAL
CLAUSES.
The last 3 lines of Article 1. Calculation of Purchase Price have
been deleted. Should you extrapolate Hoover Street, Luttrell Lane,
and South k of Second Street from the total acreage, Mrs. Luttrell
would only be aid for approximately 6 acres ( est'd $113,000 versus
est'd $143,300. Mrs. Luttrell will offer you one of three alterna-
tives here. (1) Accept Article 1. as amended. (2) Mrs. Luttrell will
have the above roads vacated by the County and then will sell them to
the City. Or (3), Mrs. Luttrell will sell the City Luttrell Park as
recorded for the sum of $143,338.93 regardless of the acreage ascertained
by survey.
Article 6. Balance to Close leaves too much discretion to the City.
As amended, the pay -off determinations are more finite and equitable
for Mrs. Luttrell.
Respectfully Submitted,
Tom A. Binford, Ag t
Enclosures (2) 9PSIVE1
FEB �0 1984 ccl M. M. Luttrell
TAB s bb
nV_p a un.rTr t nnMMAQ
CQNTRACT FOR SALE AND PURCHASE
PA S
A'. Orame Avenue Winter Spr 9m, Fu 34 10a
WINTER SPRINGS a Florida i:nvo rated manic' 1 ( ►nopa327 -1309
MIMM • s FL 327 8 «"ow•
*alt the seller shall sell and Buyer shall buy the follows (Photo
'Transestksm en the reverse hereof or attached terms and conditions WHICH INCLUDE the Standards F
M property upon the following
, had hereto hereinafter referred to as "Standard(s)
.e`�+3i ".. , .. Q.fll::• : ,. a :w.+ a i;a .,,,t.y, .., 'vr*A+ ,�.. • t:. ��,, ,.yi: n< ,.,.,. - , +7
a u., 4.0gol description of real estate ( "Property "► located la s e
fA u *10tS 1 ' throw 2'5 and including Hoover Street and Luttrell Florida: L Luttrell
as regarded in Plat. bbakll, Pgae 44 of the Public RecoI of Seminol
! d G H,: II Street address, it env, of the Property being conveyed is Hwy. '419
G >` nest
to "AW 94mnal property included: /
N/A+.qtr♦ r.,eplk ., ... :.
c1,eASE PRlgg I �Wt,. M-t;ed -See ,Special Clauses � 143.338.93
iY`rur , ,a „ "I IpeMllt� 0�9• held in 61 by rlhit A. Binford Realty Co. ,` II1C
in the amount of._.;
z t c is ,14I "Oct to AND assumption of Mortgage in favor of
e 1 ,. s,-
s b bearing Interest at A �3 % per annum PrMaat P InC payable as to
s 4incip•1 +too Syr
interest 1! per month, having
irn `ti trx, a p t anapproximata a
1!1iMwe rrfon•y tnbrtgegs and noes ri • at
n a ,
f:.Sv' 9 sr
bea ng In % on t►�. fortjl he n posy tNg "
Vi a a-GA !'d`�,M1tOgpR.f ^�•. ,. _.,. a ItT a;5 • .,t_
,,*A 9 at (� Ctner t' • • ' • : - .. .A l ,tH^I •:y{ t +M 9Nf 7tYw'7wW.ir rar...rr. year sr.r•:.rr— . —,�.,.
M l;a tea �; D ,: ,., q •� _ -- .
ache Ian /ell s•teMeeto'elwwlu$ •ash • w
a,.ur , rtlersi NU^1fiDihW$ check) subj •ctto•djustm•ntsandproretbns. > .',_ 142 $3$a93 -
} "`': TOTAL.: rwa "s< 143, 338.93
bll. ' FiWWI If the OWehf" Arlo* or'any Part thereof Is to be financed by third party loan, this Contract for Sale and Purchase, ( "Contract'9, N ct
WNOnad`uflsnVie BtiWK bbtal4Mg'a firm temmitrnent forsaid loan within 11 A days from data hereof, sit an Interest rate not to excs
,+M Y•ers;
and in the principal amount of Ij Bu'ysr 891 to 0601 aPOIC11111Ifgr, *Old ttf use, reasonable dal
yes foil to obtain sane or to waive Bu er r ,. "i ;
ytr WttUtl ;:4 Rib ' i lei Ez Wife Bu Y Yhts hereunder within sold tin», sithor Party rh 6gnci(�"igf#I
tlW A116T E#bitpE d f tp.A AVW or blp attorney, In accordanc 1I
. � aye: rofn date of Cpnuagt, Feller shall, at his axpeaN, dsUVer
1311111,101, C:(Z . 114- abstract, or (2) title insuranc•'commlerni twith tes.owster's sitlayloitcy premium to be paid by 6Mler tt,4400 y
I,f 4XecEF xecuted TANCE AND EFFECTIVE DATE: If this offer is not E by pot of the
Itne tl e•iid t(s) shall b p�rttee hereto on gr'bafor• Eebruarw- 24 198,
e, st the option of Buyer, returns tO him and this pffK she theryle1W b• nisi and void. The data of Contract "0faetivi 6j i
tlle'IW'dho of the Soffee and S'�fyir'has si ffi" this offer.'
' ,
,... � , Q "t�,,,,,,�
!Mt' I Q;I J IAi'iE: ,T;hU transaction shall be, dfoaad and the doW and Ath•r sloffing papers dolvergg on With the `� r4 c
tkf�AIAMaEMtanda0"by other provisions at Conwftt. s g,
47 fS, BASEMENTS, LIMITATiONS: the Suyii shell take title subject to: Zoning, restrictions; Pidhibitttu+s' ” o fir raghiiieihantf imposdrl'D
Q/lt "RiOhlctlons and matters sppe�rfn4 on the plat or otherwise common to the subdivision; Public utility easements of record, (provided se
p RRat cgfftjpiJoys_thrqughout the property Ijn '4nd Ere. not more than 10 fast in width as to the roar or flpnt Ilnea and 7% foot" n Width as tO tT
f!
will 80",ifiod, ilMailli; 7+xllk4:,fpt Kw *f.41901Pg arse subsequent ears ;,a
oMer t y s}umaq ^W,rtPsgN }red p4rohaN tnsaSy rjtMprla iJin!
AVtiM�Md.a(lt�f.i'�+at no►lq,gt,tha foregoing ytall praysnt use of the Prpperty -for the purpose of
N1tf. • t1CCllPRf1C+F >, Bailer rpreNnri that thKe an no parties in oxupancy other than Seller, but If PropKty is inunded b be rented or occupied beyond closin
eNa fssT'lirid <wtMs` thereof /hail ba stated heroin, snd the tensntls) shall be disclosed pursusnt to Standard G. Seller agrees to deliver occupancy of Propo ty
gf'e1oIf1A(I'vAlaf+s otharwlN pscified'betow. If occupancy N'to be dsllvKed prior to etosingr BuyK aswmas alt rtsk`✓irlbss to Propsrtfi from date of oce
cy tljg71, qe responsible e(1d IiebU for mpintpnance thKepf from Nid .data, and shall be d�amsd tq hAV•'�ept�) tl�pl,;y, rsal and perwrltll, Ir► {b ��t1
iP�► e! f,'tima of tlddnp occupancy unles!!' 4tharwlN ngtad In writing.
JJi,».tn IiBi1N�1+AS>j141T,Y; (ck1EC1C:QNE1 Buyer ay fyalgn [ 9",.not assign, Contract.
5C E r. YM *WfJiTTtQ, OR HANDWRITTEN i?*C J$fdN>>s°
RitiNn)sritteh' tlr +handwrltbn provisions "Inserted MhFN aw attached hereto as Atilt a'shbif conI
91FItAnted pMWsiMhstn conflict therewith.
fit•, .. iNjilrllAT10N RIDER: If Contract is used for the Nle of a new residence, the Insulation Rider shell be attached Isorsto and made apart hareof.
iiswi EPlC1'A4 �4skW8E+s •
C,3 aus5l " e' it R&dbit "A which, is- a e1x �~ �•: T..
X11 <;,f:I, 4e:Jt�> - ,
of rill wtac��" ., -t.,4• i «yP� r
tiflN. +ad t4 lji +� t4 ,� ,x ;R <y,• -. 4ti .� ?.. ,_.:J ". tx..,i . • y „ ,. a�i tea , +•e� x. � .
ea }t4tiJwtre bi�F"a .r. tS e• ti..,- a:.. r — — — — — — — — — rf.a-
THIS I$ 'INTEND.AD TO BE A LEGALLY BINDING CONTROTzfi
JF NCYT FULLY UNDER$jQpQ, $EEK THE ADVICE OF AN ATTORNEY PRIOR
uerri a e q nee
ti,s in ,t cy fs f FII$ FORM HAS BEEN Al"OVED BY THE FLORIDA- ASSOGATION OF REALTORS AND THE #11.00A BAR
' I: :'bE4 vVtD ,• ,. _ Copy ht ipEt bY
The FlIorldo bar and the Florida Association .of REALTORS-
all. ., • r
Executed py #Ayer an
lu#a P2 "
'�".:. - {.'E` �:P ��`+:ae. :- ....,.. .- ,1V�>k'+r•.a -,. . ;:a w- «- .'er -sr , {,cpr±.r.o-.,.,.. -�,.. .;, r. .. ...... :ke-« .. _ - +.,.-- ..
(SEAL
:tt r�. C.k.� .�.I,«.;« a;.,ae.«a...,w- z .; apk, �7z a" #,z+.u, t -•w _ 1liwtariG. f
i
•••� w� Qxscutsd b Seller on - r -_. L *�� t(7 j' • „}
lR!i!; aai N4T 'ti!► t�. ac ° f >. . -, t �.
8!'kle+
eccske,eJ ,a e. ,:�
L"" 1slTtlr►+4't"P!� are a•, vaw� -- . ,• „a «, • g.:
an.. r +a 9•:.�31 auw1• . a.
L tu.a: • r r r+' E +ct.r�.`t y. (SEAL.
�.,.��y�, 3 1 � � Qk a ►198 r
�r•� ;�f [ �' '1� .. r iH �} Y. .. a J 3L is, � f n: is) _ .- �.`e�..r'�R1.�. 4p1
t2t k Aubhw to llognere • r A , I) A its
a' IEY.,s�itiv;c Yft3ktlt°t ,�,,
ease iv. ,ktsa O{ s;s ?'„ •'. ra
1CC►oW A lit „
qBR fEEi
Ill~ We" o ey the registered real estese Broker named jbelow. at time of closing, tern ths,tilNsurssmen ",of lho pr000deat safe, sort
nt a6f' 71 bf j�rbss purchaai Price or S * *: for his sarv%W M, @Wadltng the sole by finding a Buyer, r*I
�} i{chtiaa vurtiuf+nl td tt��; ttregdirlq CppYtriati iY the went lJujrer fills tag perform and deposit(s)'A rataUlad f!tl76'thKeof, but not!streeseing'tg
, 1mpu{�q, phalli bs peiQ tag the Broker, ai'fh catisiderat{on for Broker's services including costs expended by Broker, and thi'balonce s h b
- � Nan(Mrj(q!►+it►sN trot 4E rlgped bacauN of refl+lel gr.failHrs Qf SQitel tP i�ffpj'l� ;heSail}r IQt►! fM4t+�+IMl,in futf,Jy��rPk�f�'a9• I ,..
pA awt}retltA alt lK• t..1i •Ja �y, > , , -:.a �, a....R *.w; ,o:,.�6 t. .<. n;,. .,
tLeC:t Viii{ /#tCtaN w.l. -,J !k # t l .,e .. s e.T1• 4d.;tyb '� �i.+a•`%�•iG "1,x-4 ,. �„i. w -: .;.,*
' J :k fsg.gp j - - :✓,{sr• 't6it�r {s ..�* � " ' * (`1/BAi`iJ
p+ 10 t ru,5 •t , ( .:fty Of Br a► Fu 9 ^tJU : 4i, K .1 � -.:..• J6': �.1Lii �fi. i
eX rd U'e ,� ".14, �.. t fselaK/ tki� if wy? Itr f dF -! i;f
eMr 3 } tiLW at t ub w s ntiw
:r IEAIL)E4tCg till; 1111': �; '"t,.•t x :tt +,i'1' ' e _ e a r st t § i.. t fv♦tG! m et{em y,.
- a` °6d 1.(i�a�u. e + .,t. sla,'i'24 . ► a.I .. `testa• " . 4R6 x (SEAL)
saw . ware —
ate— _- - - •�,�..�.,f
�, .,a=te- "'• - . ,
-r' ��p�1►�/1 '.�Mi ,i 1Dl till ..
STANDARDS FOR REAL ESTATE TRANSACTIONS
'- ;SVff1iNCS Of TITLE: m An abstract of title prep•►ed or brought currant by • reputable and exirting abrtract film (M not existing than awtMled M oorra0t
, asdatletg firm) purporting to be an accurate S napes, of tM Instruments affecting the title to'subject Property recorded In the public ►•cords of tM counttr soh'
,a�' f# a aleuased, tllraugh Effaetllra Den. An abstract Hall commence with the earliest public records, or s�ra11 firer dab M may be watomary le
isl>l)ijrr�lt�t4ated;,'SNlir Silafl comae a marketebta tide wblssa only to Ilem, encumbreno•a, excapofplfw er gwMkarbni tIK forth in thNT
and tlloN which shell be discharged by Sella► at or before cloeln�. MMketeble title !hail bas determined in acco►danc• with applicable Title SLMdardt aides
aoMprlty of The Florida Bar and in accordance with law. n closing of this transaction such abstract shall become the property of Buyer, subject to the rl
a py,,&i .awe teseee until. fully paid; or � title l l r nce commitment issued by a qualified titl sgrtlalrsg t0 l to Buy}f, cal
to !luyer, an Owner'', policyy of ilia rftfi�e n e amount o the purchasa prla, Inaurlog Q the Suypr �o, gib roperty, wfbJ
rySfr•Ilq�r exCeptioM or qusliflc•tlgn♦ iii this Contract and thosa which shall ha disc 6NIa,r at'or dlbalno. in
Klee dr 5 days, if title cotnm tlato d'f recolvfng ayidenotf of title to oxerhlne Mfnsr. 'ifefectM,'Buyer shah; vldtli9
,middle i6fier in writing specify ail N Mid dafeat(d render title unmarketable; BoIW tlsl8 tlalfa�f" days frets r•e•Ilot of rwa" volt
titid deftlacfel, and if Seller h ur►auooesaflsl In removing them svlthin said timer B{aVawslrall Melon tho.Ital•n sf oltls•r• (t1 •••spafM else o1110 l
Man ts,'r �� demanding a refund of all monies paid hereunder which shall forthwith be returned to Buyer and thereupon Buyer and Seller shelf be released. a
aaa enot� •U further obiiWlons under the Contract; however, Sailor agrees that he will, If title Is found to be unmarkateble, use dillgent effort to oorraot
i�aet(ar T "*Min tlto'tim•'brovided therefor, including the bringing of necessary wits.
iQISTi O MORTGAGES: Seller shall furnish a statement from the mortgaeeNs) setting forth principal balance, method of payment, Intel ratio and what
jrI goodrasaeldM9 if a
14M agyMw approval of the Buyer by the mortgagee in order to avoid default, or for assumption by the Buyer of
the mort�pN does not approve the Buyer, the Buyer may rescind the Contract, or ® requires an InauaeM In the Interest rate or shorl,es a
trl axwas sf s' MGO, the Buyer may rewind the Continct untess Sailor elect to pay such increase or excess: Seller and •
such •s Suyar shall use reasonable diligence to obtain approval. The amount of any escrow deposits held by mortgages shall be credited to Seller. (a E.
flntmergage a 115 day grace period ks.eeoftridifnoasgipe; shall provide for right of prepayment M whole or in 1 not provide,
aeeal•ntlan edlJatment In event of rose%i of the Property; and shall be other" r u red y Seller's attorney; provided, howl
seller may n) ulre elautt's customarily found in mortgages an a y utilized by Nvings and fain Institutions in the county wherein
,y. id mortgage shall r •encumbered rope` to keep all prior I=s and encumbrances In good standing and forbid VGGWX 1 6e`ti0iiiof or future advances under prior mort!T(s). All personal property billing conveyed will, at option of Bel
, .Je
I� sag the a i tad at Suyer-'a•expawaa by •Certified Peat conuol,Qper to aativssaaa
mite infestation in the improvements.` If Buyer Is in for•QDIp�, e$i will
r is th or 2 s after selection of a contractor, wh , .9 thin which to haYi aa��tblp +a0is, wli•enM ► nt+t,
o'Mp•nsed buNcil or �anaral c a pay valid costs of treatment and repair of aMdatrfig• up to 1 Al fu Pr
axe that, in eve the option of cancelling Cpntract within 6 dove allow, �e.r
• ay efec to proceed with the transaction, in which event Buyer shall recsiM a ant•ent egSrst2o'lXr
F. t RE AND EGR Seller war ante that thoolp a tngl?sek,and !/lass eaxhaPSoperny'sufficient for the I ift".1i4-wi as depwrfbed In Peregrach liar
F. N la In with Standard A. -=
ti• LE - Seller sh Midt'fao thhen T6 deysjpt`ioi'to'clnAjj'�ti�'nhh tbSujrw cod�N of all written Ipsas and litiin tfam "tenant �c�
� mnit Sint duration of sold t'e prpcupatl��<f�}rn+t•1 !iliN and. W�ncad !alit ap4 security. ftaPpsiti geld ,py t a j1'!R 7xMt Is uncap• to
t ;.MINT fttofn cash tanent1 �ii► 4hfdrM►sRldn 'sheit•bi "'iUrinf> �ify SafiM +fa llU04 wfMin said time period I11p11 �wMf�irf1ldevk, si►Q�
liar —ftwo Attest tomato to confirm Igip�tlalr►,- . 11 f atflj �.a� o(Ig�t�► lrws tg �
�f. s,flli�Ifx SoNer shalt, both as to th#-fr {Y.It{r fXd r9 hi:.fSrvtlk ilreltsli tb sy y.r� rt.afec�ng to iakltbsgrlo•. can
. y for herein, of any financing statemente,clairas of llan.or potential Sectors known to Seller and further atfsyti O�tt t�iaro hev�araorlJa Imply
t• for 90 days Immediately preceding date of closing. If the Property has been improved within said tlme,9p�I"et'shafPt1101 rr or Wei,
}e�}yyAc4t•d by can L ntrogots, Hlbcontr tors, supplier•, and materbimen, in addition to Seller's Iles aN��settl�lg
the slarrw
W 1 aubbonlrict l•rf and'tr► ion and further reciting that in fact all bills for work to the Prop could serve ao,Rb
M ♦ � pa or wit be Paid at cbelng and
b ' !. il1.Af3t OF IF/3 : os rag all beheld t tha affil a o�
i - 4. TOM: Tltpg b of the essence of this Contract. Any reference herein to time periods of lea than 6 days shall in the computation thereof exelud• Saturdays, 2
—97 Y s ! R Y. Y legal holiday and Minanci to 6:00 p.m. of the next
sl,� any time period provided for herein which shall end on a Saturday, Sunda or I y shall extend
' NTS FOR CLOSING: Seller shall furnish deed, mechanic's lion affidavit, assignments of lease . and any corrective instruments that may b• require
`hiDtiil� M►Y tMe. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement, financing statements.
5 i . EXlfIR�ISN M1 rlmfanewYysamWs w'hkl*i*ragdirod4'tW •fflx•d'to "the instrument of conveyance, intangfbididiW*&VdhwoM*W 1`"*Grd%Wiw'
ql r. .otdipg pWnaO MlaansrrsenfloallaN t7iUpaid 6 So far Documentary •tamps to be affixed to Me non or notes seelwed by
` II•d y#st Of r r4i�i fiMPCInY statements shall be paid by Buyer.
' . "„
(REAL AJ110 G NAI,I: Taxes sholl.b• prorated based on the current year's tax with du? allplsahco mealg for maximum a) Y E
tiro h}t axatilptions 1 al owed for sold year• if closing occurs at a date when the current year �f r�•Tllope Is not Nall a�. cw ►ii+�llf1
w.- taiii' WT11 bb' prorsted based upon such assessment, and the prior year's mills". If current yiar'ttlAMMmaht is sat ivltNaiire; tlntirl`tfiraY'
bx; provided, however, if there are completed improvements on the Property by Janwry yflK1lf r"••r of iaoelfld;�Mrk7h Mlpfiielltk
'"'l1flMa ngiia11Mia11lhea istf+lar►uarY tat of the pile► year, then texas shell be prorated bated upon the prior year's mitlege4nf'eserregWt•bla aaeessrslerte ss4snagr
.+ k� p lao. foljling which, r•gvW will be madis to the County Property Appraiser for an isllformalr nallt�
e
I ow•ver, any tax proration bayed on an estimate may at request of either party to the trans _ � tly readjusastupon reoefp
S that iobtemifnt to that •ffoeTWsot forth In the closing statement.
i>iSNrilMy 6I. NS;,Cortifled, gcAti[med end rat ft d,llpacial „asaassm•nt liens as of date.of cloilolf ( l t •iloj
iom �{, � data of closing shall pa sasym fT uY Rrgv((dod, however, that whore the Imp ro ba*t1 > CO
yl .,.�,t� rag Ilan !'hall M coflalders� ere a l `Eonitlrmad cr ratified and�$elbr shallt e# clo , n •mpuiit n
Misnre74W own , saws v. .ww..a...,....�...._ �.. __..�. - -.- _- _ - -_ __ - -_- _ _ __ - -
e1.o44000011' 1 ow igont -ft Wet of repair or rwosrWbn.}:eat•ra39f oishe +Neaaald.yabowisn of,tla ImprpvMwoo �a8•dr
�it}keiv n
ing t+w.Psegrity es Is,apaetft}r withfittMrtjlraoids`l�noronY insuranoaproc�odaBeswA !•rat�tyirtf)ikf►irK+M!aE�t
g return4fddi s) made hereunder.
Kendin9 the proirielonil of Standard O., between' Effective Data and cloainq dabr All pro ` to in sxd
Idi�YYl, `ahrllbb•ry-dnd' p” `if`orry; `shall be maintained by Seller in the condition th•v all ol` ti•Ea, ofrtl uah�i j
sdaaignaDWAltbWlWtffftbilsec •safer inspection p f to closing in order toe vMfYMI MiMWa wRN'f11NStbftdatM•
1lA`bLeWdip" FpveEo f ev-rh• doed'shall 6d recorded upon cf•siranc• of'funds aner i rkWn"'Of tkfedeliit Aubd et iMby►W"ll,�x
hout any encumbrances or change which would render Seller's title unmarketable from the data of -the Ian ow rtaa.as!d tfi�
1p emrgw by $•Mar's attorney or by such other escrow agent as may be mutually.groad upon fof, a PWW if Plot
l If!Saltorli is rendered unmarketable, Buyer shall within said 6 day period, notify Seller In wridn(f of tl and Seller of
:•rao•Mst of sudlVldtMnsMon�t* t uali,seld d f•ot.lrr the event Sailer falls to timely'ourrq) d1f•ot, all � rair Mall. cat
tad within 6 daxathwarfsar, be returned to Buyw and, simultaneously with sues, sapayrnant,$lrajas ..Party seal [at
Special warranty deed. In the event Buyer fails to make timely demand for refund, he shalt takw' **is , walvhtg, rights ogelnat tie
*t q%gept as may be available to Buyer by virtue of warranties, if any, contained in d•o&-•' Mt!t •vent * pe11161 -*#th•vweft
n Mt,tution+I�,fir{�nci or ��}inancin1, the requirements of the lending igRtitu" oft as time of day.glld procedures for o
tflril I elPalf `2i►Wtie1'?>itiittft�na;in,dlis f"rontr•bt'fo`tihe'tontrili'�' n�MladNltNrg ProvM•d, hove ti�at the $0114W Of
rogy aovrwe mem" pur—'. av — - - ---
t. ra•elvitlg funsMriS+•1•YMerwapewd •9rees 111pC sptsflca tflenotto promptly d+tPOSit and -M fold san to to 0 dWW
WANV oL- Jw-• aeorduwawbh'seasrandconditbnsof Contract. Failure of.FI v*SW$J.fMlluro•tshalt,Alganr •}Fit 11911 1 or 1 b. Cpnuact, tba ascrow In salad •lion, B►ofd the sawn
pl Awif, at til a judgment of • court of competent IwWktiM t
the partial thereto, or he may depoa aH two monies �th•nn h•�° pursuant to this Contract with the Clark of the Circuit Court Of the Coin
�disputa, anal upgn nptifYlp� II paKl co nad.of such action, all liability on the part of the swrt iM4ftt' =�
`�obiMHhp for any moot•/ #II9 ",,Pr int iil7lR ki tf tl Il t•dtMl elan brokw, the •ecrowN vv�tfll y IsbnS of Seat:
S., es amended. In the avant of any salt between Buyer and $altar wherein the escrow leant is made •party Y virtue" eat n9 as such esor
w in the want of any suit wherein escrow In tsrpleeds the wbjact matter of this escrow, the escrow agent shall be entitled to reeoW
re's fee and costs Incurred, said costcsts in favor of the prevailing party• All parties agree that
U table to anyy pan or p omsomonies subject to this escrow, unless such mlWellvwY t a of goes ligence on oiJGSi ss i "rFaTuS&i's,frociedl -nom a►iiirip out o/ tai i Go'trioe, tTii m0
ir rossomble 6"Mirmy's fees and coats.
f Buyer fails to perform this Contract within the time specified, the deposit($) paid by the Buyer aforesaid may be retained by or for the seem
�lgt�d �ort1 s ypgyderation for the execution of this Contract and in full settlement of any claims; whereupon all parties stall be relieved
idiFil4fe CormN•dt;lor Seller, at his option, may proceed at law or In equity to enforce his legal rights under this Contract. If, for any reason oil
�r�j�����t� fist► m t•Dh, f;r�W lifter¢ �o}1� r ,��jjls, Reelects or rsfu�Ps jo p�rfarm . k Cp/itr�+j. ilwy seek sp••Ifk C
l!6 riSAv0 a rstunt of hisdepotf arett-r4V 14ih9 ]tidy deft ro, fail dema0•i dirWIP1 Fr =111i/'a bRi M
T rS1 i E,J 1#LiMs N iC�ide(! d{ ik- �dfis }�oAtract;nor�ayv�4idw..tbwMt •d M #ray, public room
Irs4so tMotb�oflfltA IIM WhenwarihaspelgMadlafmlib. 1�11t1 includeplurala
;l Not$" Blown by or to "a ateontoy for ive as R given by or to omit f . '
q*SURANC!r: Taxes, aMasements, resat, ft to t, inewarlce toad other, •xpeMw and 'rellallw #lip roP� N of d
Ir1w1f Maw tM option of ,taking over any existing policies of insurance on the Property, if assumable, in which went premiums shall be prom
64 @h•il:be increased or decreased as rrwY be required by said prorations. All references in Contract to prov tions "f dole at"oiaslowudli.
oruWarx:Y 4 #t�t1f- �IoMi1E. uf±ilr RN1�?�'oe r!gvidod for herein.
a_ss►nv� are to ih _rglallitY.+catdTo iyarrinty .seed ek only 19 .mstivf 9 fq,Joli►llr tno.• oft
aifeV. t, r#A f)M,iEtrWlf, tA,A9WWI�1.t!V 24 a-1tiHlq • warranty o , • t• -such 11•slAf1M
.:., � japer _
•
or 1 on stay ut "!" b •s ''r•N3
•o D to
can n car t rap, •xecut y • tlt'W tad they Y•
,r
These Special Clauses are attached to and made a part of that
certain Contract for Sale and Purchase between M. M. Luttrell
( "Seller ") and City of Winter Springs ( "Buyer ") and to the extent
any provisions of the printed Contract are in conflict herein,
the provisions of these Special Clauses shall control.
The parties hereby agree as follows:
1. Calculation of Purchase Price: The total purchase price
shall be calculated and determined on a basis of a purchase price
of $18,965.52 per acre, which total acreage shall be determined
by a survey to be furnished by Seller. The total acreage shall
include Hoover Street_(that portion of which is located within the
platted subdivision), Luttrell Lane and the South 1/2 of Second
Street (that portion of which is contiguous with the platted sub-
division of Luttrell Park) , unjese Is It ;deteemined,,fie} to aff
2. Conditions Precedent: This Contract is contingent Upon
the Buyer being able to satisfy the following conditio :
(a) That the property is properly zoned to permit the use
of the property for a municipal complex. In the event the property
is not properly zoned, then Buyer shall have sixty (60) days from
the date of this Contract is which to accomplish any rezoning.
(b) That there are suitable soil and subsoil conditions
and that the flood prone area of the property, if any, does not
render the property unusable for the Buyer's intended use. Buyer
shall pay for topographical surveys and soil investigation costs.
W V
�l17'
(c) That the City sells the bonds described in the Resolu-
tion attached hereto as Exhibit "B" and that the proceeds are availa-
ble to the Buyer for the purposes of acquisition of the property.
(d) That the property has a fair market value determined
by an M.A.I. appraisal of approximately the sales price. Such
appraisal shall be obtained by the Buyer at Buyer's expense within
forty -five (45) days of the execution of this Contract.
All of the above conditions and contingencies shall be fully
satisfied or waived by Buyer on or before ninety (90) days from the
date of this Contract, or the closing date, whichever shall occur
first (said date being hereinafter referred to as the "waiver date ").
If any of the above conditions are not satisfied on the waiver date,
Buyer may waive such unsatisfactory conditions and proceed in accor-
dance with all other terms of this Contract, after which date all
conditions shall be deemed satisfied or waived.
If upon the waiver date, any of the above conditions are not
satisfied and Buyer does not waive the same, Buyer may declare in
writing this Contract to be null and void and of no further force
and effect whatsoever, upon which happening Seller shall return
Buyer's deposit and each party shall execute and deliver a full
release of and to the other.
3. Survey: The Seller, within time allowed for delivery of
evidence of title shall have the property surveyed at the Seller's
expense. If the survey, certified by a registered Florida-surveyor,
shows any encroachment of said property or that improvements in-
tended to be located on the property encroach on lands of others,
or violate any of the Contract covenants, the same shall be treated
as a title defect.
4. Inspection Rights: Commencing upon the date of this Con-
tract and extending through closing hereunder, Buyer shall have the
right to enter upon the subject property personally or rough
(initial)
t(initial)
agents, employees, contractors and representatives for the purposes
of making topographical surveys of same, making rock and soil tests
thereon and in general making tests, analyses and investigations
of the property.
5. Forfeiture of Investigative Data: In the event Buyer
should cause this Contract to be cancelled at -such time as would
result in Buyer forfeiting the deposit paid hereunder, all the
investigative data such as topographical surveys,.soil tests and
analyses shall be forfeited to the Seller.
6. Balance to Close: At the eptien te Buyer, Buyer may pe
-ki a in the -1 a * ' and • %rovided there are no legal
prohibitions, Buyer shall pay at closing one -half (1/2) of the
balance to close,• er erne -ha! ( 2) b�lanco �
C4-0S--'t)4 V&-ved- Ti/-<C f'L'YC-E -"✓ /rBSF.
TiYt 0 7�Yr:Z yz. of �7YE 8Ac- ii'✓c� ?b c � o s cj' S�ygc� �� f�A��
1'�O �•''4i r-. o,�,i s 7v ??Vl— ,yQo dam' 7We,.j/
&UY&W /`YAY
Pue- Rr
PAY Tv 77,
-2-
PGA
(initial)
(initial)
;OM THE DESK
OF
BINFORD
(305) 327-1315
o n BOX 292, CASSELBERRY, FLORIDA 32707
.r )
.,?�L�P�
►SE
2708 (Phone
327 1309 ),
alit 800
�ici 3-27 _1 ►,
8 (Phone
INCLUDE the Standards For
ms and conditions WHICH
County. Florida: I
- uttrell Lane, Luttrell
Dlic records of Seminole
I
nc. 500.00
;mount of
'as to principal and
dance of .
n below, in the
. .S
x142 838.93
ions...... 1
TOTAL .'r� .5143 338.93
Purchase _.
is Contract for Sale and
en to eie, si� -
ot to exceed
aten
dos sa.makE AEPlication for, and to use reasonable dill- _
i time, either party may canca 0
to Buyer or his attorney, in accordance with
ense, deliver
er's title policy premium to belai by Seller at closing.
d
rties hereto on or before
ffective
'e null and void. The date of Contract ( "E Date ")
)n the
day of ? ??
fictions, prohibitions and other requirements ro poe aid by
vision; Public utility easements of record, (pied
d width all to the
s to the rear or front l f^chesemoney mortpsgas, if any;
ed mortgages and P
Lci al com lex
,rty is intended to be rented or occupied beef nd clot ing,
Ird G. Seller agrees to deliver occupancy date of Property at
assumes all risk of loss to Propertm in its existing
e accepted the Property, real and personal,
ted herein or attached hereto as Addends shall control
,e attached hereto and made a part hereof.
CONTRACT FOR SALE AND PURCHASE
PARTIES
of
and JL
, as "Buye
of 4UU tY . r,t1lZPIIIUII IAVE'. . r11 lILLCL- JUL 111A5 . V L U L LUCL -J Z- I vU (Phone JL I –1 Uyy
hereby agree that the Seller shall sell and Buyer shall buy the following property upon the following terms and conditions WHICH INCLUDE the Standards I
Real Estate Transactions on the reverse hereof or attached hereto, hereinafter referred to as "Standard(s) ".
1. DESCRIPTION: SEMINOLE
(a) Legal description of real estate ( "Property ") located in County, Florida:
Lots 1 through 25 and including Hoover Street and Luttrell Lane, Luttrell
Park as recorded in Plat Book 11 Page 44 of the public records of Seminole
�
)y qtr F1�� sdii'"any of the Property being conveyed is Hwy 419
COUni
(c) Personal property included:
N/A
II. PURCHASE PRICE: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (A 3, 3 'lR _ 9 3
PAYMENT:
(a) Deposit(s) to be held in escrow byTOm A. Binford Realty Co., I ne .
in the amount of . . . . .$ 500.00
(b) Subject to AND assumption of Mortgage in favor of
bearing interest at % per annum and payable as to principal and
interest $ per month, having an approximate present principal balance of . . . . . $
(c) Purchase money mortgage and note bearing Interest at % on terms set forth herein below, in the
principal amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
(d) Other $
�! .
(s) Balance to close, (U.S. cash, certified or cashier's chock) subject to adjustments and prorations . . . . . sl.42 , 838 • 93
TOTAL.. I S .x143, 338.93
I _L4 the purchase price or any part thereof is to be financed by a third party loan, this Contract for Sale and Purchase, ( "Contr c "
ditlonad upon the Buyer obtaining a iT/ttt�Ses ra a not to exc
%; term of _years; and in the r' lication for, and to up reasonable d
_ wwwffir 't87o6ta n —hams or to waive Buyer's rights hereunder within said time, either party may cant*
IV. TITLE EVIDENCE: Within 30 days from date of Contract, Seller shall, at his expense, deliver to Buyer or his attorney, in accordance N
Standard A., either (CHECK) El (1) Ja E?X2): (1) abstract, or (2) title insurance commitment with fee owner's title policy premium to be paid by Seller at closin
V. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this offer is not executed by both of the parties hereto on or before.?'? e
the aforesaid deposit(s) shall be, at the option of Buyer, returned to him and this offer shall thereafter be null and void. The date of Contract ( "Effective Da
shall be the date when the last one of the Seller and Buyer has signed this offer.
VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the day of ? ??
18 , 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
governmental authority; Restrictions and matters appearing on the plat or otherwise common to the subdivision; Public utility easements of record, (provided a.
easements are located contiguous throughout the 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
side lines, unless otherwise specified herein); Taxes for year of closing and subsequent years, assumed mortgages and purchase money mortgages, if of
other:
provided, however, that none of the foregoing shall prevent use of the Property for the purpose of municipal complex
Vill. OCCUPANCY: Seller represents that there are no parties in occupancy other than Seller, but if Property is intended to be rented or occupied beyond closi
the fact and terms thereof shall be stated herein, and the tenant(s) shall be disclosed pursuant to Standard G. Seller agrees to deliver occupancy of Property
time of closing unless otherwise specified below. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property from date of oc
panty, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted the Property, real and personal, in its exist
condition as of time of taking occupancy unless otherwise noted in writing.
IX. ASSIGNABILITY: (CHECK ONE) Buyer ®may assign ❑ may not assign, Contract.
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall cont
all printed provisions in conflict therewith.
XI. INSULATION RIDER: If Contract is used for the sale of a new residence, the Insulation Rider shall be attached hereto and made a part hereof.
XII. SPECIAL CLAUSES:
AK-SEE ADDENDUM ATTACHED HERETO AND MADE A PART OF THIS DOCUMENT.
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
_ Copyright 1981 by The Florida Bar and the Florida Association of REALTORS
WITNESSES: (Two recommended but NOT required)
WITNESSES: (Two recommended but NOT required)
Executed by Buyer on
(SEA
(Buyer)
(SEA
(Buyer)
Executed by Seller on
(SEA
(Seller)
(SEA
(Seller)
Oaposit(s) under II (a) received; if check, subject to clearance.
By;
(Escrow Agent)
BROKERAGE FEE: Seller agree pay the registered real estate Broker named below, at time of closing, from the disbursements of the proceeds of sale, cc
pensation In the amount of % of gross purchase price or $ , for his services In effecting the sale by finding a Buyer, re&
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
Broker's fee above computed, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall
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.
Trim A _ Ri nfri-rd Real t3; Cn. a Tnn . (SEAL)
(Name of Broker)
(Seller)
(SEA
(SEA
REV.: 3/81 (Seller)
+4.
ADDENDUM TO CONTRACT FOR SALE AND PURCHASE BETWEEN M. M. LUTTRELL AS
SELLER AND CITY OF WINTER SPRNNGS AS BUYER:
(1) Total purchase is to be based on a per acre price of $18,965.52.
Total area will be determined by survey and shall include Hoover Street,
Luttrell Lane, and the south 2 of 2nd Street contiguous to Luttrell Park
(2) Should this contract not close for any reason other than that
generated by the Seller, the Buyer agrees to reimburse the Seller the
costs of the title policy. Title policy and commitment are to be ordere,
from Chelsea Title Company.
(3) Survey and topographical map are to be ordered from Doudney, Inc.
of Sanford. Seller agrees to pay for survey costs as invoiced by
Doudney. Buyer agrees to pay for topo, soils investigation, etc. costs.
Should this contract not close for any reason whatsoever, Buyer agrees
to turn over all investigative data such as topo, soils tests, etc. to
Seller. All of this data will have been paid for in full by Buyer.
(4) City Attorney and City Manager agree to blow the Real Estate
Broker at closing.
(5) Seller reserves the right to donate a portion and sell the balance
of Luttrell Park to the Buyer. However, the total monies paid by Buyer
to Seller will not deviate from the $18,965.52 per acre times the
total surveyed area as stated in paragraph (1) above.
DATE:
SELLER
DATE:
BUYER
40 30 20 10 0 40 30 120
SCALE IN FEET
De Cr1pt1Un
Fnd I. P. 6 Cap (PLS 2005)
Set C. M.
C
�r
�r
R
Fnd Iron
FnJ I-rlw
„W S x O.V
-0, Fr'J FK VA
Lots 1 through 25 and including Hoover Street and Luttrell Lane Of Luttrell Park
according to the plat thereof 3s recorded in Plat Book 11, Page 44 of the Public Records
Seminole County, Florida, being a portion of Lot 2I Block B of D. R. Mitchell 's Survey
Levy Grant as recorded in Plat Book 1, Page 5 of the Public Records of Seminole County,
Florida, ?yin!) Northeasterly of State Road 419 (Sanford- Oviedo Road) .
Plat of Survey for
rhe CJty of
%, r
2nd 502,B70 �!� - - - -9 Fnd 112"
P
-------------------------------------------------------- 503. 00 (Plat) ----------------- - - - - -' Grigina] RJ;w line of 2nd Street 1 i
of
90 • O4 \ o'
__ _ - ____.v � •�-- -- Set C. M.
— — — Grjginj1 q/✓ 1Jr8 of 13t Street
-- -- - -
�. 1st street
I. P.
Fnd 112" I.P.
CE R I'.1' F" f CA rE OF AIR VE" Y'08
This is to Certify that to the ,best of my Professional ('nog✓ ledge and belief this is a
true and correct representation of a Survey performed under my direction and that there are no
encroachments either way across the property lines and no easements or rights of way of record
affecting the property hereon described other than sho.on on said Plat of Survey and that this
Survey ;vas perfor.-ned in accordance *ith Chapter 21HIY -6, F.A.C., ,'Minimum (ethnical Standards of
rho Florida Board of Land .Surveyors.
11 Apr_ 84___
Doudrey Surveyors, Inc. Qy. - David A. DcuJney Fla. Peg. No. 3939
VODUNEY SUWEY093. INC.
vUUVNFY aunvrNV, voo e:isr rbMMERVIAL 3 rnEFr
6AW080, seLORMA 32111
Job No. 124 -34