HomeMy WebLinkAbout2006 03 09 Other Purchase Agreement
Date: March 9, 2006
THE FOLLOWING WAS HANDED OUT DURING THE OAK
FOREST MEETING BY STEVEN RICHART.
PURCHASE AND SALE AGREEMENT
TIDS PURCHASE AND SALE AGREEMENT (hereinafter "Agreement") is entered into
by and between City of Winter Springs, a Florida municipal corporation, whose address 1126 East
State Road 434, Winter Springs, FL 32708, (hereinafter "Buyer"), and Seminole Pines Associates,
L TO., a Florida Limited Partnership, whose address is 1070 Cheyenne Trail, Winter Springs, Florida
32708 (hereinafter "Seller").
WITNESSETH:
WHEREAS, Seller is the owner of small undevelopable and vacant land lying adjacent to
Tuscawilla Road (hereinafter "Property") situated and being in the City of Winter Springs, Seminole
County, Florida, and legally described as follows:
SEE EXHIBIT "A" ATTACHED HERETO
WHEREAS, Buyer desires to purchase, and Seller desires to sell the property for public
purposes; and
NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties
and agreements herein contained, and in consideration of the sums to be deposited or paid as
contemplated by this Agreement, Seller agrees to sell and Buyer agrees to buy the Property upon the
following terms and conditions:
I. PROPERTY AND APPURTENANCES: The Property will be sold to Buyer by
Seller together with all tenements, hereditaments and appurtenances thereunto belonging, all of
which shall be deemed part and parcel of the Property. Prior to closing, Seller shall remove or have
removed all personal property located on the Property including, but not limited to, any debris,
construction materials, junk, vehicles, trailers, boats, or other items abandoned or not permanently
affixed to the ground, if any.
To the extent the same exist on the Effective Date and are transferable and without any
representation or warranty express or implied, the Property shall be deemed to include all licenses,
permits, orders, authorizations and other governmental permissions of all governmental authorities
having jurisdiction thereof(whether federal, state or local) owned or held by Seller which appertain
or relate to the Property and which are transferrable or assignable.
2. PURCHASE PRICE AND METHOD OF PAYMENT; CHARITABLE
CONTRIBUTION:
The purchase price of the Property (hereinafter "Purchase Price") shaH be
($ .OO)DoIlars. The
Purchase Price shall be payable at closing.
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 1 of II
3. FEASIBILITY DETERMINATION PERIOD: Buyer shaH have thirty (30) days
from the effective date of this Agreement to determine the feasibility of Buyer's purchase of the
Property, ("Feasibility Determination Period"). During the Feasibility Determination Period, Buyer
may undertake, at Buyer's expense, such physical inspections, tests and other inyestigations as may
be deemed necessary by the Buyer in order for Buyer to evaluate the feasibility of the Buyer's
purchase of the Property. Such investigations shall include, but are not limited to, an Environmental
Audit up to Level II if Buyer determines it necessary after having received the results of a Levell
Environment Audit and structural investigations of all buildings and structures. For purposes of
undertaking physical inspections, tests or investigations of the Property, Seller hereby grants to
Buyer, their agents, and professionals engaged by Buyer, the right to enter upon the Property and any
part thereof during the Feasibility Determination Period. Said right of entry is conditioned upon (a)
the Buyer giving Seller reasonable notice, and (b) such entry being during normal business hours.
The presence on the Property of such personnel shall only be for the purpose of conducting such
inspections, tests or investigations, and no other personal activity shall be permitted.
Any alterations or changes to the Property that are a direct result of the inspecting, testing
and investigations will be repaired and replaced by Buyer if a closing does not occur. To the extent
permitted by law, Buyer shaH indemnity Seller against any loss or damages to the Property arising
out, of or in connection with, any inspection, testing or investigation of the Property by Buyer,
including but not limited to, nonpayment of services rendered to or for the benefit of Buyer or
mechanics' liens or liability for damage to persons or property arising from any activity permitted
hereunder or any change in the existing condition of the Property by Buyer or its agents, servants,
employees, contractors or representatives. This indemnification and agreement to hold harmless
shall survive Closing or termination of this Contract. Without limiting the generality of the
foregoing, but in addition thereto, in the event this Contract is terminated under circumstances which
entitle Buyer to return of its Deposit (or any portion thereof or any other monies delivered by Buyer
to Seller) prior to return of such Deposit (or any portion thereof or any other monies delivered by
Buyer to Seller), Buyer shall furnish proof reasonably acceptable to Seller (in the form of affidavits,
lien waivers or releases, paid invoices and the like) that the Property has been returned to the
condition in which they were prior to Buyer's inspections and that all Buyer's agents, servants,
employees, contractors and representatives who have entered upon the Property for the purpose of
inspection, tests or otherwise have been paid in full so that a lien could not be validly filed against
the Property. The foregoing is not intended to apply to matters created by or resulting from acts by
Seller or their agents, servants, employees, contractors and representatives. The provisions of this
subparagraph of numbered paragraph 3 shall survive any termination of this Contract. The Buyer's
indemnification of the Seller will not include any loss or damage due to pre-existing conditions,
problems or deficiencies of the Property that are discovered through the inspection, testing and
investigation authorized herein.
The decision as to whether it is feasible to purchase the Property shall be at the sole
discretion of the Buyer. If the Buyer determines that it is not feasible to purchase the Property, then
Buyer may terminate this Agreement and obtain a refund of the Deposit (together with any interest
earned thereon), the total of which shall forthwith be paid to Buyer and the parties shall have no
further liability hereunder. This provision shall not affect any other rights of the Buyer under this
Agreement including, but not limited to the right to inspect the title of the Property.
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 2 of 11
Buyer hereby unconditionally, irrevocably and absolutely assigns to Seller all of Buyer's
rights with respect to any governmental permits or approvals related to the Property, which
assignment shall become null and void and of no further force or effect upon closing, but shall
otherwise remain effective and survive any termination of this Contract. In the event closing fails
to occur for any reason whatsoever, Buyer agrees, promptly on request, to turn over to Seller copies
of all investigations performed in connection with the Property by or on behalf of Buyer and to
return to Seller all materials and information furnished by Seller to Buyer in connection with the
transaction contemplated by this Contract, all without charge, cost or expense to Seller, and the
provisions of this paragraph shall survive any termination of this Contract.
4. TITLE EVIDENCE: At least fourteen (14) days before expiration of the
Feasibility Determination Period, Buyer, at Buyer's expense, shall obtain a Title Insurance
Commitment (hereinafter "Commitment") issued by a company (hereinafter "Company") reasonably
acceptable to Buyer and/or Buyer's Counsel, with the fee owner's title insurance policy premium to
be paid by Seller. The Commitment shall commit the Company to issue to Buyer, upon recording
of the deed conveying title to the Property to Buyer, a fee owner's policy oftitle insurance, (AL T A
Owner's Policy 10-]7-92, Florida Modified), in the amount of the Purchase Price of the Property,
subject only to those exceptions reasonably acceptable to Buyer's Counsel and the so called standard
exceptions contained in the standard ALTA Form of owner's title insurance commitment. The
Commitment shall provide that the applicable standard exceptions will be deleted by the Company
upon the furnishing of an ownership and lien affidavit in form required by Company (and Seller
agrees to furnish such Affidavit as part of the Closing). Buyer shall have five (5) days from the date
of their receipt of the Commitment to examine the same and to notify Seller in writing specifying
any defects or reasonable objections to Seller's title. Seller shall reply within ten (] 0) days after
actual receipt of Buyer's written title objections, if any, stating which objections Seller will cure at
or prior to Closing and those which Seller will not cure. In the event days to give Seller time within
which to attempt to cure. In the event Seller elects to attempt to cure the defect, Seller shall have
no liability or obligation in the event Seller is unsuccessful in curing same. Moreover, Seller shall
in no event be required to expend any money or institute any legal proceedings in connection with
the curing of any title defects. In the event Seller does not cure the defect or Seller notifies Buyer
in writing that the defect will not be cured, Buyer may, within fifteen (15) days after the receipt of
such notice from Seller: (1) accept title in its then existing condition without reduction of the
Purchase Price or cash to close or (2) terminate this Contract and receive return of its Deposit. If
Buyer fails to notify Seller of Buyer's election within said fifteen (15) day time period, Buyer shall
be deemed to have elected to accept title in its then existing condition without reduction of the
Purchase Price or cash to close as provided in this paragraph.
5. RESTRICTIONS. EASEMENTS. AND LIMITATIONS: The Buyer shall take
title subject to: zoning, restrictions, prohibitions and other requirements imposed by governmental
authority, restrictions and matters appearing on the plat or otherwise common to the subdivision,
public utility easements of record, taxes for the year of closing and subsequent years.
6. SURVEY: Buyer, at Buyer's expense, within the Feasibility Determination Period,
may have the Property surveyed and certified by a registered Florida surveyor. If survey shows
encroachment on the Property or that improvements located on the Property encroach on set back
lines, easements, lands of others or violate any restrictions, covenants or applicable government
regulation, the same shall constitute a title defect. Buyer shall address such title defect, if any,. in
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 3 of 11
the same manner as other title defects as set forth in paragraph 3 above. The parties agree that Buyer
may substitute the surveyed legal description ofthe Property for the legal description contained on
Exhibit "A" for closing purposes.
7. APPRAISAL: Buyer has already conducted an appraisal of the Property. Buyer, at
Buyer's expense, within the Feasibility Determination Period, may have additional appraisals
performed by a certified registered Florida appraiser. If any of said appraisals do not value the
Property for at least the Purchase Price, then Buyer may terminate this Agreement by notifying Seller
in writing on or before the expiration of the Feasibility Determination Period and, as long as Buyer
does so, obtain a refund of the Deposit (together with any interest earned thereon), the total of which
shall be forthwith paid to Buyer and the parties shall have no further liability hereunder.
8. SELLER REPRESENTATIONS: Seller hereby represents to Buyer based on
Seller's actual knowledge, without investigation:
(a) That Seller has good, marketable, and indefeasible title to, and is in possession of,
the Property, free and clear of all liens, security interests and encumbrances,
excluding only those (i) which may be satisfied or released at Closing, (ii) to which
the Buyer's title shall be subject as otherwise provided in this Agreement, (iii) liens
for taxes not yet due and payable, and (iv) statutory liens not yet delinquent.
(b) That there is no condemnation, eminent domain, zoning, or other land use
proceeding instituted, or pending on the Property.
(c) That there is ingress and egress to the Property sufficient for its current use.
(d) That there is no litigation or proceeding pending or threatened against or relating
to the Property arising by, through or under Seller, and Seller does not know ofany
basis for such action nor are there any special assessments of any nature with
respect to the Property or any portion thereof, nor has Seller received any notice of
any special assessment being contemplated.
(e) That Seller has full power and authority to enter into and perform this Agreement
in accordance with its terms, and the completion of this transaction will not violate
any law, regulation or agreement affecting Seller.
(f) That there are no: (i) pending litigation or disputes involving the location of the
boundaries of any part of the Property; and/or (ii) physical interruptions or
obstructions to physical access to any part of the Property.
(g) That there is no hazardous waste located on or buried beneath the Property. The
term "hazardous waste" shall have the meaning ascribed by Florida and Federal law .
Paragraph 8 shall survive the closing.
9.
of Closing.
POSSESSION: Seller shall deliver possession of the Property to Buyer at the time
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 4 of II
10. CLOSING:
(a) Closing Date: The closing of this Agreement, and the transfer of title and
possession of the Property, shall occur no later than thirty (30) days after the
expiration of the Feasibility Determination Period, (hereinafter "Closing Date"),
unless otherwise extended by the terms herein. Closing shall be held in the county
where the Property is located at the office of the attorney or other closing agent
designated by Buyer. At Buyer's discretion, Buyer may extend the Closing up to
thirty (30) days by providing three (3) days advance written notice to Seller
(b) Conveyance: Seller shall convey to Buyer marketable title to the Property by
Statutory Warranty Deed; and transfer of licenses, permits, orders, authorizations
and other governmental permissions by Assignment to the extent transferable
without any warranties or representations express or implied.
(c) Documents For Closing: Buyer shall furnish the Closing Documents including, but
not limited to, the Deed, Bill of Sale, Assignments, Ownership and Lien Affidavit,
Certificate of Non-Foreign Status, satisfaction and release of liens or mortgages,
and Closing Statement.
(d) Allocation of Expenses: Seller shall pay the premium for the owner's AL T A
Owner's Policy 10-17-92 (Florida Modified) Title Insurance Policy, charges for
related title services including but not limited to title or abstract charge, title
examination, and settlement and closing fee, the cost of recording corrective
instruments and Florida Documentary Stamps to be affixed to the Deed. Buyer
shall pay documentary stamps and intangible tax on any mortgage, mortgagee title
insurance commitment with related fees, recording of mortgage and any financing
statements. Buyer shall pay the cost of recording the Deed. Each party shall pay
their respective attorney's fees
(e) Prorations: Real property taxes, special assessments and ad valorem taxes for the
year of closing and any other pro-ratable items shall be prorated as of the Closing
Date with due allowance made for maximum allowable discount. All real property
taxes, special assessments and ad valorem taxes for prior years shall be paid by
Seller. In the event the current assessment and mileage are not available, all taxes
for the year of Closing shall be based on the previous years assessment and millage.
If any substantial difference (Le., over $500.00 dollars) occurs in the actual tax bills
when issued for the year of Closing, the parties hereto agree to make adjustments
based on such tax bills when they become available.
(f) FIRPT A Acknowledgment: At Closing, the Seller shall execute and deliver to
Buyer two (2) original counterparts of the Certification of Non-Foreign Status in
form reasonably satisfactory to Buyer. In the event (a) Seller does not so execute
and deliver to Buyer such Certification of Non-Foreign Status, or (b) such
Certification of Non-Foreign Status if not fully and properly completed and
executed as of the Closing Date, or (c) Buyer is not entitled to rely upon such
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 5 of 11
Certification, then, in any of such events, Buyer shall withhold ten percent (I 0%)
of the Purchase Price and pay the withheld amount to the Internal Revenue Service
pursuant to Internal Revenue Code Section 1445. Any amount thus withheld by
Buyers shall be deemed to have been paid by Buyer in cash at Closing as part of
Buyer's obligation to pay the Purchase Price hereunder.
(g) Ownership and Lien Affidavit: Seller shall furnish to Buyer at the time of closing
an affidavit attesting to the absence, unless otherwise provided for herein, of any
Notices to Owner or Claims of Lien of potentiallienors known to Seller and further
attesting to the unquestioned ownership by Seller of the Property and further
attesting that there have been no improvements to the Property for 90 days
immediately preceding the Closing Date for which payment has not been made in
full, or for which payment has not been secured or provided for, all in form
acceptable to Seller, Buyer and Company. If Property has been improved or
repaired within 90 days at the request of and authorization by Seller immediately
preceding the Closing Date, Seller shall deliver releases or waivers of construction
liens executed by all general contractors, subcontractors, suppliers, and materialmen
in addition to Seller's lien affidavit setting forth the names of all such general
contractors, subcontractors, suppliers and materialmen and further affirming that all
charges for improvements or repairs which could serve as a basis for a construction
lien or a claim for damages have been paid or will be paid at closing of this
Agreement.
(h) Proceeds of Sale and Closing Procedure: Upon clearance of funds, the deed of
conveyance and other closing documents (hereinafter "Closing Documents"), each
duly executed, shall be delivered to the authorized agent of Company at closing.
Following examination by the agent of the public records of Seminole County,
Florida, from the effective date of the Commitment up to Closing Date (hereinafter
"Gap Period") and delivery to Buyer of the Commitment marked in order to show
compliance with all conditions of Closing and marked to insure the Gap Period all
of which shall occur on or before closing, the net sales proceeds shall be promptly
disbursed to Seller by Company or the authorized agent of Company at closing.
(i) Further Acts. etc.: At the closing and up to thirty (30) days thereafter, Seller and
Buyer agree to execute and deliver such other and further instruments and to take
such further actions as either of them or their counsel may reasonably request of the
other in order to fully implement the terms of this Agreement and the closing
thereof as long as said request is consistent with the respective obligations of the
parties as set forth in this Agreement. This paragraph shall survive the closing.
11. DEFAULTS:
(a) Notice of Default: No default as to any provision of this Agreement shall
be claimed or charged by either party hereto against the other until notice thereofhas been
given to the defaulting party in writing, and such default remains uncured for a period of
five (5) days after the defaulting party's receipt of such notice. Notwithstanding the above,
the Closing Date shall not be changed, delayed, postponed or extended by this requirement
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 6 of 11
for notice of default.
(b) Default bv Buyer: If Buyer defaults on its obligations to purchase under this
Agreement, without fault on the part of the Seller, Seller may terminate this Agreement and
as Seller's remedy for default, the Deposit paid to the Escrow Agent, shall be paid over by
Escrow Agent to Seller and retained by Seller as its liquidated damages in full and final
settlement of all claims Seller may have against Buyer for breach of this Agreement. In the
event that Buyer defaults, Buyer shall join with Seller in any written request made by Seller
to the Escrow Agent for payment to Seller of the Deposit.
(c) Default bv Seller: If Seller defaults on its obligation to sell under this
Agreement, without fault on the part ofthe Buyer, Buyer, at its option, may seek specific
performance and damages in a court of competent jurisdiction or alternatively, Buyer may
terminate this Agreement and retain the Deposit. Further, Seller shall reimburse Buyer for
all actual costs and expenses incurred by Buyer in preparing for closing including, but not
limited to, costs associated with the Feasibility Determination Period, survey costs, title
inspection and commitment costs and appraisal fees, as its liquidated damages in full and
final settlement of all claims Buyer may have against Seller for breach of this Agreement.
In the event that Seller defaults, Seller shall join with Buyer in any written request made by
Buyer to the Escrow Agent for payment to Buyer ofthe Deposit. Alternatively, Buyer may
seek specific performance against Seller.
(d) Application of Deposit Upon Default: In the event of a dispute between
Buyer and Seller with regard to whether or not a default has occurred by either party, or to
whom the Deposit, together with any interest thereon should be transmitted, the Escrow
Agent shall have the rights accorded it hereunder, including the right to interplead the
Deposit, together with any interest thereon, into the registry of the Clerk of the Circuit Court
of Seminole County, Florida.
12. BROKER'S COMMISSION: Each party hereto represents and warrants unto the
other party hereto that there are no brokers, real estate sales persons or agent involved with respect
to the transaction contemplated herein and that there are no fees, or commissions due as a result of
their respective execution of this Agreement or which will be due as a result of the closing as
contemplated hereby by virtue of their respective acts, inactions, conduct or otherwise. Each party
hereto does hereby agree to indemnify and hold the other harmless from any breach of their
respective representations and warranties as set forth in this Paragraph. The provisions of this
Paragraph shall survive the Closing.
13. TIME OF THE ESSENCE: Time, and timely performance, is of the essence of
this Agreement and of the covenants and provisions hereunder.
14. TIME: Time periods herein ofless than 6 days shall in the computation exclude
Saturdays, Sundays and state or national legal holidays, and any time period provided for herein
which shall end on Saturday, Sunday or a legal holiday shall extend to 5:00 p.m. ofthe next business
day.
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 7 of 11
15. EFFECTIVE DATE AND TIME FOR ACCEPTANCE: The date of this
Agreement ("Effective Date") shall be that date upon which the last one of the Buyer and Seller has
signed this Agreement.
16. ASSIGNMENT:
written consent of Seller.
This Agreement may not be assigned except upon the prior
17. MISCELLANEOUS:
(a) Radon Gas: Pursuant to Fla. Stat. Sec. 404.056(8), Radon is a naturally
occurring radioactive gas that when it has accumulated in a building in
sufficient quantities, may present health risks to persons who are exposed
to it over time. Levels of radon that exceed federal and state guidelines
have been found in building in Florida.
(b) Binding Effect Successors and Assigns: This Agreement shall be binding
upon and inure to the benefit of Seller, Buyer and their permitted
successors and assigns, if any.
(c) Captions: The captions for each paragraph or sub-paragraph of this
Agreement are for convenience and reference only and in no way define,
describe, extend, or limit the scope or intent of this Agreement, or the intent
of any provision hereof.
(d) Severabilitv: If any provision of this Agreement, the deletion of which
would not materially adversely affect the material benefits receivable by
any party hereunder or substantially increase the burden of any party
hereto, shall be held to be invalid or unenforceable to any extent, the same
shall not affect in any respect whatsoever the validity or enforceability of
the remainder of this Agreement.
(e) Execution of Documents: Each party hereto covenants and agrees that they
will at any time and from time to time do such acts and execute,
acknowledge and deliver such documents, including corrective instruments,
reasonably requested by the Company, the parties hereto, or their counsel,
necessary to carry out fully and effectuate the purchase and sale herein
contemplated and to convey good, marketable and insurable title to the
Property and all parts thereof as long as the request is consistent with the
respective obligations of the parties as set forth in this Agreement.
(f) Counterparts: This Agreement may be executed in two or more
counterparts, each of which shall be, and shall be taken to be, an original,
and all collectively deemed one instrument.
(g) Facsimile: Telephonically transmitted facsimile copies of this Agreement,
and any signatures thereon, shall be considered for all purposes as
originals.
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 8 of II
(h) LitilZation and Attornev's Fees: In the event it shall be necessary for either
Party to this Agreement to bring suit to enforce any provision hereof
(before or after Closing) or for damages on account of any breach of this
Agreement, the prevailing party shall, to the extent permitted by law, be
entitled to recover from the other, in addition to any damages or other rei ief
granted as a result of such litigation, all costs and expenses of such
litigation and reasonable attorney's fees (including attorney's fees and costs
of appeals) as fixed by a court of competent jurisdiction.
(i) Entire Agreement: Amendments: This Agreement contains the entire and
sole understanding between the parties hereto relative to the purchase and
sale of the Property and it may only be amended or modified by an
agreement in writing executed by Buyer and Seller with the same
formalities as this Agreement.
U) Notices: All notices and correspondence shall be sent or delivered by
registered or certified mail to the parties hereto, return receipt requested,
with copies forwarded to their respective attorneys, at the addresses set
forth below or at such other addresses as the parties hereto shall designate
to each other in writing:
(i) ifto Seller, to: Mr. T. Newby
3801 Bee Ridge Road
Suite 12
Sarasota, Florida 34233
Telephone:
Facsimile:
(ii) if to Buyer, to: Ronald W. McLemore, City Manager
City of Winter Springs
1126 East State Road 434
Winter Springs, FL 32708
Telephone: 407-327-5957
Facsimile: 407-327-6686
with copies to:
Anthony A. Garganese, Esq., City Attorney
Brown, Garganese, Weiss, & D' Agresta, P.A.
POBox 2873
Orlando, FL 32802-2873
Telephone: 407-425-9566
Facsimile: 407-425-9596
Any notice or demand so given, delivered or made by United States Mail
shall be deemed so given, delivered or made three (3) days after the same
is deposited in the United State mail registered or certified, return receipt
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 9 of 11
requested, addressed as above provided, with postage thereon prepaid. Any
such notice, demand or document not given, delivered or made by
registered or certified mail as aforesaid shall be deemed to be given,
delivered or made upon receipt of the same by the party to whom the same
is to be given, delivered or made.
(k) Interpretation: This Agreement has been submitted to the scrutiny of each
party hereto and each party has had opportunity to have it reviewed by legal
counsel. This Agreement shall be given fair and reasonable interpretation
in accordance with the words used herein without consideration or weight
being given to its having been drafted by either party hereto or their
respective counsel.
(1) Applicable Law: Venue. This Agreement is to be construed according to
the laws of the State of Florida. Venue for any dispute shall be Seminole
County, Florida.
(m) Non-Waiver: No covenant, term, or condition, (or the breach thereof),
shall be deemed waived, except by written consent of the party against
whom the waiver is claimed. A waiver of any covenant, term, or condition
(or breach thereof) shaIl not be deemed to be a waiver of any other
covenant, term or condition (or breach thereof).
(n) Terminologv: Whenever used herein, the terms "Buyer" and "SeIler" shall
be construed in the singular or plural as the context may require or admit
and shall be further construed to include the agents of the Buyer and SeIler.
(0) No Recording: Neither this Agreement, nor any notice of it, shall be
recorded in any public records.
(p) Tvoewritten or Handwritten Provisions: Typewritten or handwritten
provisions, either as additional terms and conditions or alterations to
existing terms and conditions, shaIl control all printed provisions in conflict
with them.
(q) The recitals contained in the "whereas" clauses are hereby fully
incorporated herein by reference.
IN WITNESS WHEREOF, the parties hereto have caused this contract to be
executed on the dates accompanied by their respective executions.
[Signatures next page.]
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 10 of II
,SELLER
City of Winter Springs, BUYER
Date:
By: John Bush
Mayor, City of Winter Springs
Date:
Purchase and Sale Agreement
City of Winter Springs/Seminole Pines Associates, LTD.
Page 11 of J 1
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