CHARLES R & ANNETTA M BENNETT - HOWARD E & LOUISE F BENNETT
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OPT ION
THIS AGREEMENT, made this l~
day of MA1C.rt
1983, by and between
CHARLES R. BENNETT and ANNETTA M. BENNETT,
his wife and HOWARD E. BENNETT and LOUISE F. BENNETT, his wife,
whose mailing address is 1300 HUME ROAD, LEXINGTON, KENTUCKY 40516
hereinafter referred to as "the Sellers" and the CITY OF CLEARWATER.
FLORIDA, a municipal corporation, hereinafter referred to as
"Purchaser" ;
WIT N E SSE T H
WHEREAS, the Sellers are the owners of certain real estate
situated in Hi11sborough County, Florida, described as follows:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF:
and
WHEREAS, the Purchaser desires an option to purchase said
real estate.
NOW THEREFORE, the Sellers, for and in consideration of the
sum of FIVE HUNDRED DOLLARS ($500.00) duly paid by the Purchaser,
receipt of which is hereby acknowledged by the Sellers, do hereby
grant to the Purchaser, its successors and assigns, at the
Purchaser's option, for and during a period to expire at midnight
May 1, 1983, the right and privilege to purchase the above-described
parcel of real estate, containing an agreed upon 60 acres more or
less, for the price of THREE THOUSAND DOLLARS ($3000.00) per acre,
good and lawful money of the U.S.A. The terms and payment of said
amount to be determined by agreement between the Sellers and
Purchaser prior to closing.
The exercise of this option by the Purchaser to purchase the
aforementioned property shall be by written notice to the Sellers,
said notice shall be sent to said Sellers, CHARLES R. BENNETT and
ANNETTA M. BENNETT, his wife, and HOWARD E. BENNETT and LOUISE F.
BENNETT, his wife, 1300 HUME ROAD, LEXINGTON, KENTUCKY 40516
on or before the expiration date of this Option Agreement. In case
said notice is given by mail, the time of deposit of same in a
prepaid sealed envelope in a depository for the receipt of the
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United States mail shall not only constitute sufficient notice
to the Sellers of such action, but the time of such notice of
acceptance shall be, in such case, the time of deposit of the
same in a United States Post Office.
In the event the Purchaser exercises this option, the
Sellers shall, within thirty (30) days of such notice, furnish to
the Purchaser a title insurance commitment, showing good and clear
merchantable title of record to said property in the Sellers, free
and clear of liens, encumbrances, rights, title or interests in
others, except covenants and restrictions of record, easements and
zoning regulations. In the event said commitment shows defects,
liens, encumbrances, rights, title or interests not hereinbefore
noted, the Sellers shall use diligent effort to perfect the title,
and the Sellers shall have a reasonable time therefore, not to
exceed sixty (60) days.
Within sixty (60) days after delivery of such title
insurance commitment to the Purchaser, the closing shall be
consummated. Conveyance shall be made by the Sellers by a good
and sufficient General Warranty Deed. The Sellers shall affix the
proper documentary stamps on the Deed and Purchaser shall record
the same. Real estate taxes for the year 1983 shall be pro-rated
at the time of closing, provided, however, should a defect in the
title be found, then closing shall take place thirty (30) days
after the defect has been corrected. The closing shall take place
in the office of the City Attorney, City Hall, 112 South Osceola
Avenue, Clearwater, Florida. If the Sellers do not perfect title
or otherwise fail to perform the Seller's obligation thereunder,
the Sellers shall promptly refund to Purchaser the Five Hundred
Dollars ($500.00) paid for this option.
It is agreed and understood that if the said Purchaser shall
fail to exercise this option within the time above mentioned, said
Purchaser shall forfeit the sum of FIVE HUNDRED DOLLARS ($500.00)
paid to the Sellers for this option as hereinabove acknowledged,
and all obligations of both parties shall be fully discharged.
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It is understood that the Purchaser is dealing directly with the
Sellers and no real estate commission will be incurred.
This contract shall be binding upon the successors and
assigns of the Sellers, but shall not be assignable by the
Purchaser.
The purchase price may be payable by City of Clearwater
check or a combination to include financing and cash as agreed to
by both the Sellers and Purchaser.
The sellers agree to provide the purchaser with a current
survey lessing out the 6.7
acres not being purchased and
showing total acreage remaining by separate count.
IN WITNESS WHEREOF, the parties hereto have hereunto set
their hands and seals to be affixed hereto on the date first
above written.
SIGNED, SEALED AND DELIVERED
IN THE PRESENCE OF:
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/' LOUISE F. BENNETT
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BY
Approved as to form & correctness:
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LEGAL DESCRIPTION OF Land located in Hillsborough County,
Florida
Tracts 9 and 16 in Southwest 1/4 of Section 18, Township
27 South, Range 17 East, and Tracts 11, 12, 13 and 14 in
Southeast 1/4 of Section 18, Township 27 South, Range 17
East, of KEYSTONE PARK COLONY SUBDIVISION, as per map or
plat thereof recorded in Plat Book 5, page 55, Public
Records of Hillsborough County, Florida.
AND
That part of the Southeast 1/4 of the Southeast 1/4 of
Section 18, Township 27 South, Range 17 East, lying West
of PATTERSON ROAD, HILLSBOROUGH COUNTY, FLORIDA.
LESS
A 6.7 Acre Parcel in the Southeast corner of the
above described land bordering on PATERSON ROAD and the
Southern boundary, but not to exceed Three Hundred (300)
feet frontage on PATERSON ROAD.
EXHIBIT "A"
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