PROPERTY AGREEMENT
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PROPERTY AGREEMENT
O.R. 53 5 OmE 137 6
CLeR': [,r;CUi' COURT
MAY ZQ \I 09 ~~ '12
This Property Agreement, made and executed as of this 22nd day of
December, 1981, by and among the City of Clearwater, Florida ("City"), a municipal
corporation, PACT, Inc. ("Pact"), a Florida corporation not-for-profit, and Clearwater
Federal Savings and Loan Association ("Clearwa ter Federal"),
WITNESSETH:
WHEREAS, PACT has been organized for the sole purpose of acquiring,
constructing, operating and maintaining a performing arts facility in the City; and
WHEREAS, PACT, on behalf of the City, has issued its Note to Clearwater
Federal, dated June 1, 1981, in the principal amount of $5,500,000, for the purpose of
financing a portion of the cost of such facility; and
WHEREAS, the City has adopted Ordinance No, 2382-81 on May 29, 1981, for
the purpose of approving PACT, its purpose and its function, and the issuance by PACT of
the Note, and has agreed to accept title to the real and personal property constituting the
facilities of PACT upon payment in full of the Note; NOW, THEREFORE
In consideration of the mutual covenants and promises contained herein, the
parties agree as follows:
1. Upon payment in full of the principal of and interest on the Note, PACT
agrees to convey to the City, and the City agrees to accept, fee simple title to the real
property described on Exhibit A attached hereto, and all improvements and personal
property located thereon (the "Project"). The City shall have the right to obtain such title
either at maturity of the Note or upon payment by the City to Clearwater Federal of such
sum as will be sufficient to pay as of the date of payment of the principal of the Note and
all interest accrued on th~ Note to the date of payment,
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1 O.R, 5 3 5 C PAGE 1377
2, Upon payment in full of the principal of and interest on the Note as
described in paragraph 1, Clearwater Federal agrees to deliver to PACT in recordable
form a satisfaction of the mortgage held by it upon the Project. Upon delivery of such
satisfaction, all right, title and interest in and to the Project shall become vested in the
City, and PACT shall execute and deliver to the City in recordable form a warranty deed
evidencing such conveyance, Until such delivery to the City of such deed, however, all
right, title and interest in and to the Project (subject to the lien of the mortgage held by
Clearwater Federal) shall remain vested in PACT,
3, Delivery of any instruments or notices pursuant hereto shall be
sufficiently given when delivered or mailed by registered or certified mail, postage
prepaid, to the mailing addresses of the parties as follows:
(a) City of Clearwater
p, O. Box 4748
Clearwater, Florida 33513
(b) PACT, Inc.
p, O. Box 1574
Clearwater, Florida 33517
(c) Clearwater Federal Savings and Loan Association
P.O. Box 4608
Clearwater, Florida 33518
IN WITNESS WHEREOF, each of the parties has caused this Property
Agreement to be executed in its name by its duly authorized officers, and its corporate
seal to be impressed hereon and attested by its duly authorized officer, all as of the date
and year first above written,
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tn. 5 3 5 0 P~GE 137 8
WITNESSES AS TO CITY:
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WITNESSES AS TO PACT:
PACT, INC.
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WITNESSES AS TO CLEAR WATER
FEDERAL
CLEARWATER FEDERAL SAVINGS
AND LO~OCIATION '" ".,.",..,
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o,R.53 5 Ome 1379
STATE OF FLORIDA
COUNTY OF PINELLAS
Personally appeared before me, the undersigned authority duly authorized to
administer oaths and take acknowle<if.mepts, Anthony L. Shoemaker, Charles F. Le~her,
Mary Sue ,Lamkin , , ,and Thomas A ust~rcity Manager, Mayor-Commissioner, City Clerk (Deputy)
and City Attorney, respectively, of the City of Clearwater, Florida who being by me duly
cautioned and sworn, acknowledged that they executed the foregoing instrument in the
name and behalf of the City of Clearwater by authority of its City Commission for the
purpose therein expressed.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed by official
seal this22n!lay of DecembEjrt981.
Notary Pu
at Large
My commission expires:.,,:
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Bonded ~y AmeriC<lH Fire (A C~""all.y C::>mpall.r.
(SEAL)
STATE OF FLORIDA
COUNTY OF PINELLAS
Personally appeared before me, the undersigned authority duly authorized to
administer oaths and take acknowledgments, Timothy A. Johnson, Jr. and
Howard Groth , respectivel~..t!ke/President and Secretary of PACT, Inc" who
being by me duly cautioned and sworn, a~~nowledged that they executed the foregoing
instrument in the name and behalf of PACT, Inc. by authority of its Board of Directo,rs for
the purpose therein expressed.
IN WITNESS WHEREOF, I
seal this.l.2 day of n.er.F'mhF'r, 1981.
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have hereunto set my hand and affixed by offic:iaI
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N(.f~,;'i' ~;d?l, "
at Large '
My commission expires:
(SEAL)
Notary Pu~[j~, State of F!ori~C1 At Large
My CommlsslcHl Expires July 23rd, 1983
Bonded By American fire & Casuafty Co.
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o,R.5 3 5 0 P~GE 13 80
STATE OF FLORIDA
COUNTY OF PINELLAS
Personally appeared before me, the undersigned authority duly authorized to
administer oaths and take acknowledgments, tCill Blackstone and
P~h"iri~ 'A l'ilsh , respectively, the Sr.V,? andAsst.SecQf Clearwater F'ederal
Savings and Loan Association, who being by me duly cautioned and sworn, acknowledged
that they executed the foregoing instrument in the name and behalf of Clearwater
Federal Savings and Loan by authority of its Board of Directors for the purpose therein
expressed,
IN WITNESS WHEREOF, I have hereunto set my hand and affixed by official
seal this 22I>!I1ay of December ,1981.
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Notary Public, State of
at Large
My commission expires: '( L"~O:;-
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10. R. 5 3 5 0 PAGE 13 81
PARCEL 1
That certain piece, parcel, or tract of land lying in and being part of
the North half of Section 9, Township 29 South, Range 15 East, Pinellas
County, Florida, being more particularly described as follows:
From the center of said Section 9, NOaa 07' 43" E, and along the
North-South centerline of said Section 9, a distance of 94,50 feet for
a point of beginning; thence N 890 21' 08" W, and parallel with the
East-West centerline of said Section, a distance of 268,80 feet; thence
N 000 07' 43" E, and parallel with the North-South centerline of said
Section, a distance of 377 ,50 feet; thence S 890 21' 08" E, and parallel
with the East-West centerline of said Section, a distance of 489,60 feet;
thence S 000 07' 43" W, and parallel with the North-South centerline of
said Section, a distance of 377.60 feet; thence N 890 21' 08" W, and
parallel with the East-West centerline of said Section, a distance of
220,80 feet to the North-South centerline of said Section and the Point
Beginning,
PARCEL 2
Togeth~r with an easement for ingress and egress,described
as toll.ows:
That certain piece, parcel, or tract of land lying in and being part of
the North 1/2 of Section 9, Township 29 South, Range 15 East, Pinellas
County, Florida, being set aside for use as a permanent ingress and
egress easement, with access roads being constructed within the boun-
daries thereof as described as follows:
From the center of said Section 9, NOaa 07' 43" E, and, along the
North-South centerline of said Section, a distance of 54,0 feet for
a P,O,B,; thence N 890 210 08" W, and parallel with the East-West
centerline of said Section, a distance of 374,4 feet; thence NOaa
07' 43" E, and parallel with the North-South centerline of said
Section, a distance of 556,57 feet; thence N 890 18' 31" W, a
distance of 911.28 feet to the West right-of-way of State Road No.
593 and/or McMullen-Booth Road, a 100 foot right-of-way, as now
established; thence N 000 07' 00" E, and along said ri9ht-of-way, a
distance of 60,0 feet to the Southwest corner of Kapok Manor
Condominium Village One, as recorded in Condominium Plat Book
22, pages 48 through 51 inclusive, Public Records of Pinel1as
County, Flori da; thence S 890 18' 31" E, a di stance of 1586,49 feet;
thence S 000 07' 43" W, and parallel with the North-South centerl ine
of said Section 9, a distance of 616.06 feet; thence N 890 21' 08" W,
and parallel with the East-West centerline of said Section, a
distance of 300,8 feet to the P,O.B,
EXHIBIT A
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O,R.5 3 5 0 PAGE 13 8 2
PARCEL 3
Together with an easement for parking, described as follows:
A parcel of land lying in lne South 1/2 of the North 1/2 of Section 9, Township
29 Sout.~, Range 16 East, Clear',;ater', Pinellas County, Florida, and being more
particularly described as follows;
BEGI,'j at the center of said Section 9; thence N 89021'08" 'II, along the East-
\oIest center] ine of said Section, also being the North boundary of DEL ORO
ESTATES, as recorded in Plat Book 45, Page 29, of the Public Records of
Pinellas County, Florida, for 595.52 feet to a point lying 540.00 feet East of
the center1 ine of Mc~lULLEN-BOOTH ROAD (STATE ROAO 593); thence N 0007' 00" E
640,00' from and parallel with the centerline of said road, for 610,82 feet to
a point lying 50,00 feet South of the southerly boundary of KAPOK MANOR CONOO-
MINlUI'l VILLAGE ONE, as recorded in Plat 800k 22, pages 48 through 51 of the
Public Records of Pinellas County,'Florida; thence S 89018'31" E, 50,00 feet
from and parallel with said South boundary for' 321. 25 feet; thence
S 0007'43" \01, for 556,57 feet; thence S 89021' 08" E, for 374.40 feet, to a
point on the North-South centerline of said Section 9; thence continue
S 89021'08" E, for 300,80 feet; thence N 0007'43" E, for 615,05 feet; thence
N 89018'31" W, for 300,80 feet to the North-South centerline of said Section;
thence N 0007'43" E along said North-South centerline for 550,00 feet; thence
S 89017'05" E and parallel ...ith the North boundary of said South half of the
North half of said Section, for 290,00 feet; thence N 0007'43" E, for 50,00
feet; thence S 89017'05" E, for 17,02 feet; thence S 0007'43" W along a line
307,00" easterly from and parallel to the North-South centerline of said
Section, fOr 1259,94 feet to a point on the East-\oIest centerl ine of said
Section, also being the North boundary of DEL ORO GROVES, as recorded in Plat
Book 12, Page 2, of the Public Records of Pinellas County, Florida; thence
N 89021'08" \01 along said centerline for 307,02 feet to the POINT OF BEGINNING,
and contains 9,33 acres, more or less,