AGREEMENT FOR EXCHANGE OF REAL PROPERTY - 1250 PALMETTO STREET
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AGREEMENT FOR EXCHANGE OF REAL PROPERTY
THIS AGREEMENT is made and entered into the :l~aday of ~ , 2004
by and between the CITY OF CLEARWATER, FLORIDA, hereinafter referred to as "City", and the
SCHOOL BOARD OF PINELLAS COUNTY, FLORIDA, hereinafter referred to as "Board", (collectively,
"parties"), to mutually establish terms and conditions for the orderly exchange of equitable interests in real
property in Clearwater, Florida, as more specifically described hereafter.
WITNESSETH:
1. PROPERTY INTERESTS TO BE EXCHANGED: The City shall convey to the Board by
Special Warranty Deed fee simple title in and to that certain real property more specifically described in
EXHIBIT "A", hereafter "City parcel". The Board shall convey to the City by Special Warranty Deed fee
simple title in and to that certain real property more specifically described in EXHIBIT "B", hereafter "Board
parcel", together with the grant of perpetual easement over and across those certain parcels more
specifically described in EXHIBIT "C", hereafter "easemenf' or "easements". Collectively, all of the herein
described parcels shall be referenced as the "exchange property".
2. PURCHASE PRICE: It is mutually agreed that the transfer of the City parcel to the Board,
upon and in compliance with provisions of Section 2.01(5)(d)(iii) of the City of Clearwater Charter, and the
transfer of the Board parcel and easements to the City shall constitute full and sufficient consideration for the
transfer of the interests described therein by and between the parties.
3. INSPECTION PERIOD: Each of the parties shall have 45 days after final execution of this
Agreement (Inspection Period) during which they shall have the right and opportunity to enter and inspect the
real property each shall receive in the contemplated property exchange, to undertake appraisals, conduct
building inspections where appropriate, surveys, soil test borings, percolation tests, environmental audits,
radon tests and other subsurface tests, and any other studies, tests and examinations thereof as each party
may desire; provided, however, that (i) none of the foregoing shall cause any material injury to the property;
(ii) each party shall promptly repair any damage to the Property caused by the foregoing; (iii) each party shall
pay all costs and expenses incurred in connection with the foregoing; and (iv) to the extent permitted by F.S.
768.28, indemnify and hold the other harmless of and from all losses, costs, injuries, damages and liability of
any kind arising out of or in connection with each party's respective agents, employees, engineers and other
personnel. Each party shall also have the right to undertake any other due diligence it may deem necessary
to determine whether the permitted uses of the Property are acceptable for its intended purposes. On or
before the end of the Inspection Period, if either party has determined that the condition of the Property, its
permitted uses, title, survey disclosures, or environmental condition are not, in the sole discretion of the
respective party, satisfactory to that party; then, in that event, the party may elect to terminate this
Agreement and neither party shall have any further liability hereunder. If, at the end of the Inspection Period,
neither party elects to terminate this Agreement, then each shall convey the property interests described
herein to the other, subject only to the inability of each to convey marketable title at Closing. All Inspection
Period costs shall be the sole responsibility of the party incurring the costs.
4. TIME FOR ACCEPTANCE/EFFECTIVE DATE: It is agreed by and between the parties that
the Board shall first approve and execute this Agreement and deliver in original counterpart to the City's
designee. The City shall have 45 days following receipt thereof in which to agenda the Agreement for action
by the City Council at a regularly scheduled meeting. If this agreement is accepted and approved by the
Council, duly authorized City officials shall execute it and an original counterpart shall be returned to the
Board or its appropriate designee within 15 days thereafter. The date of Agreement ("Effective Date") shall
be the date the Agreement is executed by the City.
5. PROPERTY CONDITION: At time of closing, or as otherwise provided herein, the parties
shall deliver title to the respective properties being exchanged in their present "as is" condition, ordinary wear
and tear excepted.
6. SURVEYS: Each party, at its option and expense, and within time allowed to deliver
evidence of title and to examine same, may contract services of a registered Florida land surveyor to perform
surveys of the property it will acquire in the exchange. All such surveys shall then be certified to both of the
\\A0450sfile\realproperty\Share\Greenwood Library\CITY-PCSB PROPERTY EXCHANGE by PCSB 11-1-04.doc
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respective parties, the closing agent and title insurance underwriter, if applicable. If the surveys reveal any
encroachments on the property the party will receive, or the property improvements encroach on the setback
lines, easements, lands of others, or violate any restrictions, contract covenants or applicable governmental
regulation, the same shall constitute a title defect and subject to remedy as provided in paragraph 9.
7. TWO PHASE CLOSING I CLOSING DATES: It is the intent of the parties that the first
phase of this transaction shall close upon the Board conveying Exchange Property described in EXHIBIT "B"
and EXHIBIT "C" to the City, and delivery of the deed, other instruments of conveyance, and the parties
executing all other closing papers required to effect closing not later than 45 days following the Effective
Date, unless otherwise extended by the parties or requirements of paragraph 9 hereof. It is the further intent
of the parties that the second phase of this transaction shall close not later than five years following the
Effective Date, unless otherwise extended by the parties or requirements of paragraph 9 hereof. The second
phase closing shall occur on or about one year following the Board delivering Notice to the City that the
Board is prepared to accept title to Exchange Property described in EXHIBIT "A", and delivery of the deed to
the Board by the City, and the parties executing all other closing papers required to effect closing. It is
mutually agreed that the Board shall not deliver Notice to the City sooner than the third anniversary of the
Effective Date, and if Notice is not delivered to the City by the fourth anniversary of the Effective Date, then,
in that event, it shall be deemed Notice was delivered and the second phase closing shall occur on or before
the fifth anniversary of the Effective Date. The Exchange Property to be conveyed by the City to the Board at
the second phase closing shall be deemed to be held by the City in constructive trust for the Board, and any
attempt to conveyor encumber the property prior to its conveyance to the Board shall be null and void.
8. POSSESSION/OCCUPANCY: Each party represents that it has sole possession of the
property interests it proposes to exchange with the other and that each shall lawfully convey both possession
and the interests as above described at times of the respective closings described in paragraph 7; provided,
however, that the City shall have the obligation to maintain the City property described in EXHIBIT "A" in its
present "as is" condition until the second phase closing, subject to normal wear and tear and aging. The
parties mutually acknowledge that the City has entered into a lease of the City property to Le'azon
Technology Institute, Inc. ("Lessee") as approved by the City Council on August 16, 2004, and that Lessee
shall occupy the City property subject to the terms and provisions of said lease up to but not later than one
week prior to date of the second phase closing as above described. The City agrees to terminate the Le'azon
lease, and, any other City use of the City property on request by the Board. The Board will not request
termination of the Le'azon lease for a period of three (3) years from the date of execution of this agreement.
However, if Le'azon Technologies, Inc. ceases to operate or the lease is terminated by either party, this
action shall be deemed notice and phase 2 closing and the transaction shall close within 60 days of the City
taking possession of the property. The City also agrees that it will not extend the existing lease past five (5)
years and it will make no further encumbrance upon the property. The City further agrees to take all
necessary actions to ensure the City property is vacant prior to conveyance of the City deed to the Board.
9. EVIDENCE OF TITLE: Within twenty (20) days following the Effective Date, each party may,
at its sole option and expense, obtain a title insurance commitment issued by a mutually acceptable Florida
licensed title insurer agreeing to issue that party that upon recording of the instruments of conveyance, an
owner's policy of title insurance in a sufficient amount the respective party and its title underwriter shall
determine, insuring that party's good and marketable title to the property, subject only to those standard
exceptions appearing in the owner's title policy which, from the insured party's standpoint do not unduly
affect title, and those items which shall be discharged by the conveying party at or before closing. The party
securing title insurance shall have ten (10) days from date of receiving its title commitment to examine same.
If title is found defective, the proposed insured shall, within five (5) days thereafter, notify the conveying party
in writing specifying defect(s), or the same shall be deemed to have been accepted by the party to be
insured. If said defects render title uninsurable, the conveying party will have 90 days from receipt of notice
within which to remove said defect(s), and if unsuccessful in removing the defects within that time, the
proposed insured shall have the option of either accepting the title as it is then, or both parties shall be
released of any and all further obligations under this Contract. However, the conveying party agrees that if
title is found to be uninsurable, it will use diligent effort to correct the defect(s) in title within the time provided.
The Board shall have the privilege of updating the commitment to insure its title in and to the City parcel
through the date of second phase closing and the parties mutually agree to be obligated by and undertake
such action as above provided to render title in the City parcel insurable as of the second phase closing date.
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1 O. CLOSING DOCUMENTS: Each party shall, through the mutually agreed upon closing
agent, furnish to the other party at least seven (7) days prior to closing, copies of all deeds, easement
instruments, affidavits, closing statements, and other documents which will be executed and delivered by the
respective parties at closing, which documents shall be subject to the reasonable approval of each party's
legal counsel.
11. PLACE OF CLOSING: Closing shall be held in Pinellas County, Florida at the office of the
designated closing agent as agreed upon by the parties.
12. CLOSING EXPENSES: Except as the parties may be exempt under Chapter 201.24,
Florida Statutes, each shall pay the cost of documentary stamps and recording fees to record the conveying
instruments the it will receive at closing. The conveying party shall pay the costs of recording any corrective
instruments required to insure title to the receiving party.
12. TIME: Time is of the essence of this Agreement. Any reference herein to time periods of
less than six (6) days shall, in the computation thereof, exclude Saturdays, Sundays and legal holidays, and
any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to
5:00 p.m. of the next full business day.
13. RESTRICTIONS. EASEMENTS. LIMITATIONS: The parties shall take title to the respective
property interests described subject to restrictions in matters appearing on the plat where applicable, public
utility easements of record, and taxes levied subsequent to delivery of possession, if such are levied due to
failure of either party to obtain their respective exemption.
14. SUCCESSORS AND ASSIGNS: The covenants, provISions and agreements herein
contained shall in every case be binding on and inure to the benefit of the parties hereto, respectively, and
their respective successors and/or assigns.
15. 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 the conveying party. Pending liens as of
date of closing shall be assumed by the party receiving title; provided, however, that if work on the said
improvement has commenced as of Effective Date, such pending lien shall be considered as certified,
confirmed or ratified and the conveying party shall, at closing, be charged an amount equal to the last
estimate by the public body of assessment for the improvement.
16. OTHER AGREEMENTS: No prior or present agreements or representations shall be
binding upon either party unless included in this Agreement. No modification or change in this Contract shall
be valid or binding upon the parties unless in writing and executed by the party or parties to be bound
thereby. Typewritten or handwritten provisions inserted herein or attached hereto as addenda shall control
all printed provisions of this Contract in conflict therewith.
17. RELATIONSHIP OF THE PARTIES: Nothing contained herein shall be deemed or
construed by the parties hereto, nor by any third party, as creating the relationship of principal and agent, or
a partnership or joint venture between the parties hereto, it being understood and agreed that neither the
method of computing the consideration value of the properties to be exchanged, nor any other provision
contained herein, nor any acts of the parties herein shall be deemed to create any relationship between the
parties hereto other than the relationship of Buyer and Seller as applicable to the property exchanged
18. RECORDING MEMORANDUM OF AGREEMENT: The City will record within 30 days of
the execution of this agreement by both parties a Memorandum of Agreement reflecting the School Board's
interest in the City parcel.
19. BROKERAGE COMMISSIONS: Each party represents to the other that no person or firm
has acted as broker in this transaction. The parties hereby agree that if any claims for brokerage
commissions or fees are ever made against either party in connection with this transaction, all such claims
shall be handled and paid by the party whose actions is the basis for such claims for brokerage
commissions. The provisions of this section shall survive the closing and the delivery of the deed and other
related documents.
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20. WARRANTIES AND REPRESENTATIONS:
A. The parties mutually represent each to the other that, to the best of their knowledge,
during the period of their respective ownership, that toxic chemicals, hazardous substances (including
hazardous wastes) or substances likely to infiltrate the soil or groundwater have not been spilled or buried on
the exchange property.
B. The parties represent and warrant each to the other that to the best of their knowledge,
none of the exchange property is in violation of any federal, state or local law, rule, ordinance or regulation
relating to hazardous substances or wastes, or to environmental conditions on, under or about the property,
including, but not limited to, soil and groundwater condition.
C. The parties represent and warrant each to the other that there is no pending or
threatened condemnation or similar proceeding affecting their respective property or any portion thereof, nor
have they any knowledge that any such action is presently contemplated by the parties.
D. The parties make no other representations to each other regarding the exchange
properties other than marketability of title, including but not limited to the suitability of the properties for the
intended uses of the respective parties.
21. RADON GAS DISCLOSURE: 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 buildings in
Florida. Additional information regarding Radon and Radon testing may be obtained from your county public
health unit.
22. COMPLIANCE WITH LAWS: To each party's knowledge, each has complied with all
applicable laws, ordinances, regulations, statutes, rules and restrictions pertaining to and affecting their
respective exchange property. Performance of this Contract will not result in any breach of, or constitute any
default under, or result in the imposition of any lien or encumbrance upon the exchange property of either
party under any agreement or other instrument to which the respective party or property might be bound.
23. PENDING LITIGATION: The parties further covenant with each other that there are no legal
actions, suits or other legal or administrative proceedings affecting the exchange property or any portion
thereof, nor has either party knowledge that any such action is presently contemplated.
24. RISK OF LOSS: The risk of loss or damage to any of the Exchange Property by fire or
otherwise, until the delivery of the deed or conveyance, is assumed by the party in title.
25. DEFAULT: If either party fails to perform this Agreement within the time specified, other
than failure to render the title marketable after diligent effort, the other party, at its option, may proceed in
equity to enforce its rights under the Agreement or release all parties from all obligations hereunder; or the
injured party may seek specific performance without waiving any action for damages resulting from the
defaulting party's breach. Failure or refusal of either party to execute the deeds and other documents
required hereunder shall be deemed a default on the part of that party.
26. MISCELLANEOUS PROVISIONS: This Agreement may be executed in several
counterparts, each constituting a duplicate original, but all such counterparts constituting one and the same
Agreement. Whenever the context hereof shall so require, the singular shall include the plural, the male
gender shall include the female gender and the neuter, and vice versa. In case anyone or more of the
provisions contained in this Agreement shall for any reason be held to the invalid, illegal or unenforceable in
any respect by a court of competent jurisdiction, such invalidity, illegality or illegal or unenforceable provision
shall not effect the validity of any other provision, and the remaining provisions shall be deemed to be in full
force and effect as if they had been executed by the parties subsequent to the expungement of the invalid
provision or provisions. The parties hereby agree that each has played an equal part in the negotiations and
drafting of this Agreement, and in the event any ambiguities should be realized in the construction or
interpretation of this Agreement, the result of those ambiguities shall be equally assumed and realized by
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each of the parties to the Agreement. The waiver of one or more defaults by any party to this Agreement
shall not be deemed a waiver of any subsequent default of that provision of the Agreement, or of a default
under any other provision of this Agreement.
27. NOTICES: Any notice to be given or to be served upon any party hereto, in connection with
this Agreement, must be in writing and may be given by certified mail, and shall be deemed to have been
given and received when a certified letter containing such notice, properly addressed, with postage prepaid,
is deposited in the United States mail; and, if given otherwise than by certified mail, it shall be deemed to
have been given when delivered to and received by the party to whom it is addressed. Such notices shall be
given to the parties hereto at the following address:
FOR THE CITY:
Michael Quillen, P. E.
Director of Engineering
City of Clearwater
P. O. Box 4748
Clearwater, FI. 33758-4748
FOR THE BOARD:
Jim Miller, Director
Real Property Management Department
Pinellas County Schools
11111 South Belcher Road
Largo, Florida 33733
28. MERGER BY DEED: All covenants, warranties and representations contained herein shall
merge with delivery and acceptance of the deeds and other instruments of conveyance by the parties hereto.
Each shall hold the other forever harmless thereafter.
29. ENTIRE AGREEMENT: Upon execution by the parties, this Agreement shall constitute the
entire Agreement between the parties, and shall supercede any and all prior and contemporaneous written
and oral promises, representations or conditions in respect thereto. All prior negotiations, agreements,
memoranda and writings shall be merged herein. Any changes to be made in this Agreement shall only be
valid when expressed in writing, acknowledged by the parties and incorporated herein or attached hereto.
IN WITNESS WHEREOF, and in acknowledgment of its approval by the respective governing bodies
of the parties, their duly authorized officials have hereunto executed this Agreement For The Exchange of
Real Property the day and year first above written.
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WITNESS ~~.4~~
S-rft(h~ /~/~c4 I'/~
Print WI ESS name
Countersigned:
SCHOOL BOARD OF PINELLAS
COUNTY, FLORIDA
By:
By:
CITY OF CLEARWATER, FLORIDA
MiPL<i~4~ -:Ir
William B. Horne, 11);;itY ~an~ger',
5
Attest:,
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EXHIBIT "A" - FEE PARCEL
(CITY) PAGE 1 OF 1
LEGAL DESCRIPTION - PARCEL I. D. # 10-29-15-00000.130-0500
A PORTION OF THE SOUTHWEST Y. OF THE NORTHEAST v.. OF SECTION
10, TOWNSHIP 29 SOUTH, RANGE 15 EAST LEGALLY DESCRIBED AS
BE1NG THE EAST 109.6 FEET OF THE WEST 836.17 FEET OF THE NORTH
150 FEET OF THE SOUTH 180 FEET THEREOF,
ADDRESSED AS 1250 PALMETTO STREET, CLEARWATER, FLORIDA 33755
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EXHIBIT ICe" - EASEMENTS
PAGE 1 OF 4
DESCRIPTlON SKETCH-Nor A SURVEY
Pinel/os Coon Iy, Florida
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EXHIBIT "C"_ EASEMENTS
PAGE 2 OF 4
DESCRIPTlON SKETCH-NOT A SURVEY
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