AGREEMENT
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AGREEMENT
THIS AGREEMENT entered into thi~l3 day of June, 1972,
between CLEARWATER 235, INC., a Florida non-profit corporation
with its principal office in the City of Clearwater, Pinellas
County, Florida, hereinafter called "235",
and
THE CITY OF CLEARWATER, Florida, hereinafter called
the "City"
WITNESSETH:
WHEREAS, 235 presently plans to move and rehabilitate
certain dwellings so that they qualify for insurance by the FHA
under Section 235-j of the National Housing Act and the Regula-
tions thereunder now in effect, upon certain land now owned by
the City, and
WHEREAS, the City has agreed to transfer title to the
land to 235, free and clear of all encumbrances and subject only
to current taxes and restrictions of record, if any, and
WHEREAS, the City has advanced certain sums to or for
the benefit of 235, for the initial costs of FHA applications,
movlng and contractor's expenses, and
WHEREAS, 235 intends to repay the City for the sums it
has advanced.
NOW, THEREFORE, in consideration of the present trans-
fer of the land, a description of which is attached hereto,
marked Exhibit A, and hereby incorporated herein by reference,
from the City to 235, 235 agrees as follows:
1. Immediately upon receipt of the deed for the land
from the City to apply for and diligently pursue the securing of
an interim construction mortgage from a lending institution, and
upon the securing of said mortgage, to apply for and secure in
RICHARD L. STEWART
Attorney It L.w
314 So. Mlnourl Avenue
CI..rw.,.r. Florid.
33618
:~I M:)(t> OO~ ~ CD
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its application for the initial draw under such mortgage, suffi-
cient sums to repay the City such sums as it has advanced to or
for the benefit of 235, except for the purchase price of the land.
Said sums shall be repaid to the City by 235 or on its account as
soon as such sums are received from the lending institution.
2. Upon the satisfaction of the interim construction
mortgage, completion of the project and FHA approval, to reim-
burse the City ln the amount of $27,830.00, representing 235's
pro rata share of the purchase price of the land, and concurrently
therewith to convey to the City for park purposes the following
described parcel of land, subject only to such encumbrances and
restrictions as were present upon its conveyance by the City to
235, to-wit:
That part of the E 1/2 of the NW 1/4 of the
NW 1/4 of Section 16, Township 29 South,
Range 16 East, Pinellas County, Florida,
described as follows: Begin at the SE corner
of the NW 1/4 of the NW 1/4 and run thence
N 00 37' 03" E along the 40 acre line, 730.35
feet for P.O.B.; thence continue N 0037'03" E,
95.0 feet; thence N 89027'56"W, 669.05 feet;
thence S 0037'03"W, 495.21 feet; thence
S 89027'56"E, 469.05 feet; thence N 0037'03"E,
400.21 feet; thence S 89027'56"E, 200.0 feet to
P.O.B., less road right-of-way.
IN WITNESS WHEREOF This Agreement has been duly executed
the day and year first above written.
ATTEST:
CLEARWATER 235, INC.
, (Corporate Seal)
By
By
Appr9ved as to form & rrectness:
'~4~wt177.~
City Attorney
RICHARD L. STEWART
Witnesses:
~,~
Attorney at Law
314 So. Mlllourl Avenue
Clearwater, Florida
33S1&
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SCHEDULE A
The N 1/2 of the N 1/2 of the SW 1/4 of the NW 1/4 of
the NW 1/4 and the S 1/2 of the S 1/2 of the NW 1/4
of the NW 1/4 of the NW 1/4 of Section 16, Township 29
South, Range 16 East, Pine11as County, Florida, and
that part of the E 1/2 of the NW 1/4 of the NW 1/4
of Section 16, Township 29 South, Range 16 East,
Pine11as County, Florida, described as follows:
Begin at the SE corner of the NW 1/4 of the NW 1/4
and run thence N 0037'03"E along the 40 acre line,
730.35 feet for P.O.B.; thence continue N 0037'03"E,
95.0 feet; thence N 89027'56"W, 669.05 feet; thence
S 0037'03"W, 495.21 feet; thence S 89027'56"E, 469.05
feet; thence NOo37'03"E, 400.21 feet; thence
S 89027'56"E, 200.0 feet to P.O.B., less road right-
of-way.
RICHARD L. STEWART
Anorney at Law
314 So. Mlllourl Avenue
CI.arwater. Florida
33516