ESCROW AGREEMENT AND PROMISSORY NOTE SEE 2-25-1982 PROPERTY PURCHASE AGREEMENT
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ESCROW AGREEMENT
THIS AGREEMENT, entered into this L'5 day of FC.b. ,1982, by
and between the City of Clearwater, Florida, a municipal corporation
("City"), William G. Blackburn and Gloria J. Blackburn, his wife
("Blackburn"), Jack Russell oil Company, Inc., a 1'l~~/dA. cor-
poration ("Russell") and Richards, Nodine, Gilkey, Fite, Meyer and
Thompson, P.A. ("Escrow Agent").
WHEREAS, City, Blackburn and Russell have entered into an
Agreement dated .;rf~/..,~~ J.~ ' 1911-- (the "Agreement") covering
certain real property he Property"), the Property being more par-
ticularly described in the Agreement, which Agreement is incorporated
herein by reference: and
WHEREAS, Blackburn and Russell have entered a Contract for Sale
and Purchase of Property described more particularly on Exhibit A
attached hereto and incorporated herein by reference: and
WHEREAS, the parties to the Agreement wish to expedite the
closing of title on the Exhibit A property by establishing an escrow
with Escrow Agent so as to permit execution of the Agreement which is
deposited herewith:
NOW, THEREFORE, in consideration of the above premises, Ten
Dollars and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties do mutually
agree as follows:
1. The parties hereto hereby deliver to Escrow Agent the above
described Agreement which is to be held in escrow in accordance with
the terms hereof. By its joinder in the execution hereof excepts the
foregoing Agreement and agrees to abide by the provisions of this
escrow agreement.
2. If closing of title on the Exhibit A property takes place,
Escrow Agent shall record the Agreement, charging Blackburn for all
costs incurred therewith.
3. If closing of title on the Exhibit A property has not taken
place by 5:00 p.m., March 1, 1982, the unrecorded Agreement shall be
delivered to Julius J. Zschau, Esq., 2515 Countryside Blvd., Suite A,
Clearwater, Florida 33515, and the Agreement shall be destroyed and of
no force or effect.
4. Blackburn will defend at its own cost and expense, and will
indemnify and hold Russell harmless from any action, proceeding or
claim arising from any action of the Escrow Agent and will fully
indemnify and save Russell harmless from and against all claims,
demands, judgments, costs and damages, including costs of law suits,
legal expenses and reasonable attorneys' fees, including attorneys'
fees incurred on appeal, which Russell may suffer by reason of its
having executed the Agreement or depositing it in escrow pursuant
hereto.
5. Any notice required to be given by the parties under the
terms of this Escrow Agreement or by any applicable law shall be in
writing and either hand delivered or sent certified mail, return
receipt requested. Each notice shall be addressed as follows:
If to City:
Thomas Bustin, Esq.
City of Clearwater
112 South Osceola
Clearwater, FL 33516
If to Blackburn:
William G. Blackburn
Blackburn Land Development
1718 u.S. Highway 19 N.
Clearwater, FL 33515
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. If to Russell:
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Jack Russell Oi 1 CO I,
P.o. Box 748
Clearwater, FL 33517
Inc.
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with copy to:
Julius J. Zschau, Esq.
Sorota and Zschau, P.A.
2515 Countryside Blvd., Suite A
Clearwater, FL 33515
If to Escrow Agent:
Richards, Nodine, Gilkey, Fite,
Meyer & Thompson, P.A.
1253 Park Street
Clearwater, FL 33516
Such addresses or persons may be changed by the giving of further
written notice provided in this Paragraph.
IN WITNESS WHEREOF, the parties hereto have executed this Escrow
Agreement as of the day and year first written above.
By
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Attest:
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City Clerk
Signed, sealed and delivered
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"Blackburn"
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William G. Blackburn
(SEAL)
"Russell"
JACK RUSSELL OIL COMPANY, INC.
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(CORPORATE- S~LJ_
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"Escrow Agent"
RICHARDS, NODINE, GILKEY, FITE
MEYER & T;;?j, P.A.
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PROMISSORY NOTE
$182,000.00
Clearwater, Florida
March 1, 1982
On or before October 27, 1984, or such earlier date as
more particularly described in that certain Agreement by and be-
tween the City of Clearwater and Maker dated October 27, 1980,
recorded in O.R. 5211, Page 160-164, Public Records of Pinellas
County, Florida, as subsequently amended, we promise to pay to the
order of the City of Clearwater, Florida, the sum of One Hundred
Eighty-Two Thousand Dollars ($182,000.00) without interest.
Now should it become necessary to collect this note
through an attorney, either of us, either maker or endorser on this
note, hereby agrees to pay all costs of such collection, including
a reasonable attorney's fee.
The drawers and endorsers severally waive presentment for
payment, protest, and notice of protest and non-payment of this
note.
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WILLIAM G. BLACKBURN
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