ESCROW AGREEMENT
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PHILLIPS, McFARLAND,
GOULD & KQRONES. P.A.
Attorneys At Law
311 S. Missouri Avenue
Clearwater, Florida
33616
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ESCROW AGREEMENT
THIS ESCROW AGREEMENT is made for the purpose of recit-
ing the present position of the parties who are involved in the
transaction whereby the Clearwater Airpark lease is being
assigned, a new lease relative to the Airpark entered into and
certain real estate parcels traded for the purpose of allowing
inclusion of a portion thereof within the revised Airpark lease.
As of Tuesday, February 24, 1970, the following have
been accomplished and are in the hands of Herbert M. Brown,
City Attorney, Clearwater, Florida:
(a) A deed has been executed by the City of Clearwater
to Standard Development Company, secured by a title insurance
policy;
(b) A check for $57,000.00 has been executed by Her-
bert Frank, on behalf of Clearwater Golf-Park, Inc., payable to
Clearwater Flying Company;
(c) A release has been executed by Clearwater Flying
Company in favor of the City of Clearwater;
(d) A lease from the City of Clearwater to Clearwater
Golf-Park, Inc. has been executed by the Lesseer
(e) Checks in the amount of $3,000.00 and $2,000.00
payable to the City of Clearwater and Clearwater Flying Company,
Inc. have been endorsed by Clearwater Flying Company, Inc.;
(f) An affidavit in compliance with the bulk sales
requirements of the State of Florida has been executed by Clear-
water Flying Company, Inc. ; and
(g) An assignment of lease has been executed by Clear-
water Flying Company, Inc. and Clearwater Golf-Park, Inc.
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PHILLIPS, McFARLAND,
GOULD & KORONES, P.A.
Attorneys At Law
311 S. MissourI Avenue
Clearwater, Florida
33616
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The following is an itemization of those things which
remain to be completed in the overall transaction to which this
escrow agreement is relative:
(a) A deed is to be presented to the City of Clearwater
from Standard Development Company, together with title insurance
securing the position of the City of Clearwater as Grantee there-
in;
(b) A check for $3,000.00 is to be delivered by Her-
bert Frank, on behalf of Clearwater Golf-Park, Inc., to Donald
E. Bleakley:
(c) The City of Clearwater is to execute a mutual
release with Clearwater Flying Company, Inc.:
(d) The City of Clearwater is to execute the new lease
for the Clearwater Airpark wherein Clearwater Golf-Park, Inc.
is Lessee;
(e) A publisher's affidavit is to be received from
the Clearwater Sun showing that a bulk sales notice has been
published in compliance with the bulk sales law (notice has been
delivered to the Clearwater Sun by Donald o. McFarland):
(f) Clearwater Flying Company, Inc. will execute an
affidavit that all its accounts payable have been paid:
(g) A check is to be deposited by Clearwater Golf-Park,
Inc. for the first month's rental under the new lease: and
(h) The City of Clearwater is to provide a correct
description of the Airpark property, together with a survey in
accordance with the requirements of Exhibit A of the new lease.
The signatory parties hereto do acknowledge that those
items which are indicated hereinabove as completed do, in fact,
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reflect an irrevocable act of each of the parties, subject to
revocation only in the event that the executory requirements of
this escrow agreement should not be met.
It is anticipated that all of the executory features
of this escrow agreement shall be completed on or before March 2,
1970. At such time as the executory features of this escrow
agreement have been complied with, the following shall occur:
(a) The deed to the City of Clearwater and the deed
from the City of Clearwater shall be delivered to the Grantee;
(b) A check for $3,000.00 from Herbert Frank to
Donald E. Bleakley shall be delivered to Bleakley, unless the
same has already been accomplished;
(c) The mutual releases between the City of Clearwater
and Clearwater Flying Company, Inc. will be distributed, one
executed copy to each party; and
(d) The lease executed by the City of Clearwater and
Clearwater Golf-Park, Inc. shall be distributed, one executed
copy to Lessor and one executed copy to Lessee (provided that
payment of rents in advance as required in said lease shall be
made at said time).
The parties hereto have agreed that Herbert M. Brown,
as aforesaid, shall act as Escrow Agent pursuant to the terms
of this agreement, and his acts relative hereto shall be as set
forth herein.
This agreement shall be binding upon the parties whose
signatures appear herein, in person or by agent.
IN WITNESS WHEREOF, the parties have caused these
PHILLIPS, McFARLAND,
GOULD & KOAONES, P.A.
Attorneys At Law
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311 S. Missouri Avenue
Clearwater, Florida
33616
PHILLIPS, McFARLAND,
GOULD & KORONES, P.A.
Attorneys At Law
311 S. Missouri Avenue
Clearwater, Florida
33616
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Presents to be signed this
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ld,day of February, 1970.
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RBERT M. BR ~ Escrow Agent
By:
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C~K:lOIJ!~/!:!;;t:)__
By. ~ ( , . .
Burton C. Easton, Attorney
C~TER FLYING COMPANY, INC · g. /1
B, : .' L/ tf/ /2~~~-4~ ',. -. f/
./ Robert D. BiCkerstai$ P~S.
By:
R. Stierheim,
Manager
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TO:
FROM:
COPI ES:
SUBJECT:
DATE:
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CITY OF CLEARWATER
Interdepartment Correspondence Sheet
City Attorney
City Engineer
Airpark Lease Description
March 4, 1970
Start at the center of Section '12, Township 29 South,
Range 15 East, and run N 890 19' 10" West 50.00 feet,
for a point of beginning. Thence run N 000 16' 59" East
50.00 feet; thence run N 890 19' 10" West 145.20 feet;
thence run N 000 16' 59" East 158.47 feet; thence run
'N 890 21' 07" West 434.80 feet; thence run N 000 16' 59"
East 300.00 feet; thence run N 890 21' 07" West 475.00
feet; thence run N 000 16' 59" East 825.00 feet; thence
run N 890 21' 07" West 246.38 feet to the Northwest
corner of the Southeast 1/4 of the Northwest 1/4 of said
Section 12. Thence run N 000 15' 03" East 858,.85 feet;
thence run N 890 23' 01" West 642.10 feet;. thence run
S 000 13' 07" West 438.50 feet; thence run N 890 21' 07"
West 709.76 feet; thence run S 000 13' 07" West 2159.40
feet; thence run East 547.38 feet; thence run S 000 23'.
02" East 928.95 feet; thence run S 890 20' 18" East
1717.61 feet; thence run S 000 16' 59" W.est 160.46 feet;
thence run S 890 20' 18" East 375.00 feet; thence run
N 000 16' 59" East 1489.39 feet to the point of beginning.
Less existing right-of-way, and less 30 feet for proposed
North and South extensions of' Arcturas Avenue lying North
of Overlea Street and less 60 feet for existing Airport
Drive along the South boundary of this tract less the East
375 feet.
Subject to dedication of Drainage and Utility Easements
to cover existing utilities, drainage ditches and drainage
structures.
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EXHIBIT "A"
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