AMENDMENT TO AGREEMENT OF 12/30/70
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AMENDMENT TO AGREEMENT
THIS AMENDMENT TO AGREEMENT made and entered into this
13th
dayof November
, 1972, by and between LYKES
BROS. !NC., a Florida corporation (hereinafter referred to as
'!Lykes"), the BANK OF CLEARWATER, a Florida banking corporation
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(sometimes hereinafter referred to as "Bank") and the CITY OF
CLEARWATER, FLORIDA, a municipal corporation organized and existing
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under the laws bf the State of Florida (hereinafter referred to
as "City");
WIT NE SSE T H T HAT:
WHEREAS, the City and the BANK OF CLEARWATER have entered
into and have performed a written agreement entitled "Agreement
for Sale and Purchase" dated December 30, 1970, a true copy of
which has been attached hereto as Exhibit ~ which is hereby
incorporated herein by reference and made a part hereof (this
said contract is sometimes hereinafter referred to as the "Agree-
ment" ), and
WHEREAS, Lykes is the successor in title and in interest
to the BANK OF CLEARWATER with respect to the said Ba.nk'srlghts
and interests under the sald Agreement, and
WHEREAS, under the terms of said Agreement, the BANK OF
CLEARWATER purchased from the City the West 18 feet of the Southern
200 feet of "Parcel 2"which is more particularly described in the
Agreement, and
WHEREAS, under the terms of the said Agreement, the City
from the BANK OF CLEARWATER for parking lot purposes, Lots
la.nd 2 of Block 8 of "Parcell", as the same is more particularly
described in pa.ragraph land in Exhibit I of the said Agreement, and
WHEREAS, the municipal parking lot operations on said
"Parcell" have not produced the parking use or the parking revenue
expected and have therefore been a disapPointment to the City and
City therefore desires to terminate the said lease, and
WHEREAS, Lykes or the BANK OF CLEARWATER intends to construct
at the Northeast corner of Cleveland and Garden ,Streets in downtown
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Clearwater a multi-story banking and office bUilding which will
be leased on long-term lease to the BANK OF CLEARWATER, and
WHEREAS, in order to have sufficient land on which to
construct the said office building and to have sufficient set-back
area for attractive landscaping, Lykes needs to acquire a
triangular sliver of land from the City l6 feet wide at its base
and approximately 200 feet along its Westerly boundary (Which is
contiguous to and identical with the Easterly boundary of
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"Parcel 2") which said latter parcel was acquired by the Bank
from the City pursuant to paragraph 2 of the aforesaid Agreement
of December 30, 1970, and
WHEREAS, in return for the conveyance to it of the said
16 foot triangular sliver by the City, Lykes is willing to convey
to the City a strip of land 8 feet wide and approximately 450
feet long which comprises the Westerly 8 feet of Lots 1 through
8 inclusive of Block 8 of Gould and EWing's First Addition to
Clearwater Harbor, Florida, and
WHEREAS, the banking operations to be conducted by the
BANK OF CLEARWATER in the aforesaid new banking and office building
may require underground pneumatic tube connections with Lot 13 in
Block l8 of Gould and Ewing's First Addition to Clea~ater Harbor,
Florida,
NOW THEREFORE, in consideration of the mutual promises
and covenants herein contained, thepartles hereto do hereby agree
as follows:
I. CANCELIATION OF PARKING. LOT LEASE
A. The parking lot lease established by the aforesaid Agreement
of December 30, 1970, is hereby terminated and cancelled.
B. The City shall have the right tocontlnue its parking lot
use and operations on the leased property until it has recovered
gross parking lot revenue from said parking lot operations (computed
from December 30, 1970) in the amount of $5,725.45 (its cost in
acquiring parking meters and other parking lot improvements) less
$902.50 (the City's cost of parking meters previously removed from
the premises.
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C. It is mutually understood and agreed that the City shall
give Lykes accountings with respect to revenues which have been
received and from time to time are received from the said parking
lot operations upon reasonable request of Lykes, but not less
often than annually nor more frequently than quarterly.
D. It is further mutually understood and agreed that this
Amendment to Agreement effectively terminates and completely
cancels the option to purchase heretofore granted the City by
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the Bank of Clearwater under the aforesaid Agreement dated
December 30, 1970.
E. At any time subsequent to the full execution of this
Amendment to AgreeT~nt, Lykes may, by giving 30 days' written
notice to the City Manager of the City of Clearwater, retake
exclusive possession of the premises covered by the aforesaid
parking lot lease and the City shall vacate the same and cease
parking lot operations thereon; provided, however, that if the
City has not, as of the day it ceases such parking lot operations
pursuant to the aforesaid notice, recovered the net sum speCified
in sub-paragraph B above, then the deficit shall be paid by Lykes
cash to the City on or before the expiration of the 30-day
notice period specified in this sub-paragraph.
REAL PROPERTY EXCHANGE
A. Conveyance by Lykes to City
In exchange for the conveyance by the City to Lykes of
the real property described in sub-paragraph B hereof, Lykes
hereby agrees to convey to the City a strip of land 8 feet wide
and approximately 450 feet long {containing approximately 3,600
square feet) along the West sides of Lots 1 through 8 inclusive
of Block 8 of Gould and Ewing's First Addition to Clearwater
Harbor, Florida. Lykes agrees that it will concurrently with the
delivery of the deed to it by the City with respect to the land
described in sub-paragraph B below convey to the City by warranty
deed the said 8 foot strip along the West side of Lots 6, 7 and 8 of
the said subdivision, and that thereafter, when the buildings
currently existing on Lots 1 through 5 have bee~ removed, Lykes
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will execute and deliver by warranty deed title to the City
Westerly 8 feet of the said Lots 1 through 5 inclusive.l
B. Conveyance by City to Lykes
(1) In exchange for the conveyance to the City by Lykes
of the real property referred to in sub-paragraph A above, the
City hereby agrees to convey to Lykes a triangular sliver of
land haVing a 16 foot base on Cleveland street and lying
contiguous to tQe Easterly boundary of "Parcel 2" which the
BANK OF CLEARWATER purchase from the City pursuant to paragraph
2 of the said Agreement of December 30, 1970; the apex of the
said triangular strip lies at the Northeast corner of the said
"Parcel 2" as is more particularly shown in Exhibit 2 attached
hereto .2
(2) Lykes hereby agrees to use the entire "Parcel 2"
as well as the triangular strip of land referred to above as
an integral part of the area on which it or the BANK OF CLEARWATER
proposes to construct a new banking and office building; it is
further understood and agreed that Lykes shall have the right
to use portions of the said real property for storage of
construction equipment and material during the construction of
the said office and banking building so long as the same does
not interfere with the pUblic use of adjacent public and parking
areas unless such interference is first approved by the City
Commission.
III. PNEUMATIC TUBE EASEMENT
A. In the event that the banking operations to be conducted
on the premises more particularly referred to above require
pneumatic tube connections with drive-in banking facilities to
be erected on Block 18 of Gould and Ewing'S First Addition to
Clearwater Harbor, Florida, and the reqUirement for such
connection and permanent underground easement to accommodate
the tubes are certified in writing to the City Manager of the
City of Clearwater by the architect of the BANK OF CLEARWATER or
of Lykes, then the City-will, within 30 days after such written
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lSee Addendum #l, page 12
2See Addendum. #2, page 12
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certtfication, convey, and it hereby agrees to convey, by
recordable instrument satisfactory to Lykes, a permanent under-
ground easement sufficient in size and depth to accommodate
the aforesaid pneumatic tubes which said easement will extend
from the Northerly line of Lot 6 in Block 8 of Gould and Ewing's
First Addition to Clearwater Harbor, Florida, directly to a
point on the Southerly line of Lot 13 in Block 18 of the said
subdivision.
I.
B. Lykes agrees that it shall cause the said pneumatic tube
or tubing to be constructed and installed in such a manner in
the said easement as to cause the least inconvenience to persons
parking in the City parking lot and when the same has been
constructed and completed then Lykes will restore the surface of
the portion of the City's parking lot used for said easement to
the same condition in which it existed prior to the commencement
of construction and installation of the pneumatic tubing.
IV. MISCELLANEOUS PROVISIONS J TERMS AND CONDITIONS
A. The closing of the real estate exchanges described above
shall occur within 30 days from the date of the full execution
of this Amendment to Agreement, or later by mutual agreement of
the parties hereto. However, it is specifically understood and
agreed that the closing of the trans,action with respect to the
conveyance by Lykes to the City of the 8 foot strip of land along
the West side of Lots 1 through 5 of Block 8 of Gould and Ewing's
First Addition to Clearwater Harbor shall take place within 30
days from the demolition of the buildings currently existing on
said lots. At least l5 days prior to the date for closing the
parties agree to deliver to each other commitments for title
insurance or commitments to guarantee title in the amount of the
respective appraised value of the properties (which value is
hereby agreed to be in the amount of $3 per square foot) to be
exchanged pursuant to this Agreement, excepting only unpaid
mechanics and materialmen's liens, taxes and assessments for the
current year, and for the standard conditions and exceptions.
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'Each party shall have 10 days from the date of receipt of said
commitment to examine the same and make objection thereto. If no
objection is made thereto within the said lO day period, title will
be deemed to be accepted. If such written objection is made by either
Grantee, the Grantor shall have 90 days from receipt of written ob-
jection by the Grantee in which to remedy such defect. Should the
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Grantor remedy such defect, then this contract shall thereafter be
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closed within th~ time limit set forth above. Should the Grantor fail
to remedy such defect, then the Grantee shall have the option of termi-
nating this Agreement and having returned to it all consideration pre-
viously given by it, or it may accept title in its then condition and
this transaction shall be closed within the time hereinabove set forth
without rebate of consideration. All cost of procuring the aforesaid
title commitments and ultimate title insurance policy shall be borne
by the respective Grantors.
B. It is mutually understood and agreed between the parties hereto
that taxes, if any, for the current year shall be prorated as of closing.
C. As Grantors hereinabove described, both parties to this Agree-,
ment hereby agree that they will convey their respective parcels of
real property to the respective Grantee by warranty deed free and clear
of all encumbrances, save and except taxes and assessments, if any, for
the current year and restrictions and reservations of record.
D. Lykes hereby agrees that when the City is prepared to widen
Garden Avenue and to pave the same, Lykes will pay one-half of all con-
tract costs for the labor and materials needed in order to pave that
portion ce Garden Avenue the widening of which has been made possible
through the conveyance by Lykes to the City of the 8-footstrip of land
referred to in paragraph IIA, page 3 above; it is understood that such
paving may take place in two separate sections or stages and at two
different times, and thatt;his Agreement shall be binding as to both suc
sections and stages.
E. Lykes agrees that it will make available at all times for its.
employees and tenants of its proposed new banking and office building
not less than 150 private parking spaces off the banking premises and
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near the area of the new banking building. To insure performance
of this provision by Lykes,' Lykes agrees that should the City
deem it necessary to bring an action for specific performance to
compel Lykes to provide the aforementioned required number of
parking spaces, it will pay all costs of court action and reim-
burse the City for reasonable attorney's fee on account of court
action reasonably required to enforce this obligation. This
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obligation shall survive the closing of the transaction contem-
plated herein and shall be binding upon both parties so long as
Lykes or its successors or assigns operates ~ bank on the premises
as contemplated herein.
F. Lykes hereby agrees that in the event the City accepts
and executes this Amendment to Agreement then Lykes will forthwith
commence architectural studies for a new office and bank building
which will be from 10 to 15 stories in height on the premises
hereinabove described located in Block 8 of Gould and EWing's
First Addition to Clearwater Harbor, Florida. Lykes further
represents that the said banking and office bUilding will be
approximately 90 feet wide fronting on Cleveland Street and
. approximately 140 feet in depth. In addition, Lykes hereby
agrees to a set-back line appl~cable to the front exterior of the
said proposed new bank building where it fronts on Cleveland
Street which will be 25 feet from the north edge of the exist~ng
sidewalk, said north edge being designated as "back of sidewalk"
on the attached survey of C. A. peterson, Inc., dated 9/20/72;
and, the proposed set-back line is designated in the said survey
as, "building set back line"; the said survey is hereby incor-
porated herein by reference and made a part hereof.
G. Both parties hereby mutually agree that this Amendment
to Agreement, and the covenants contained herein, shall be
binding upon the successors and assigns of the parties hereto.
H. In the event of any conflict between the proviSions of
this Amendment to Agreement and the aforesaid Agreement for Sale
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and Purchase of December 30, 1970, then this Amendment to Agreement
sha.ll control.
I. In order to facilitate compliance with the State banking
law's "contiguous property" requirement appli.cable to drive-in
facilities, the City of Clearwater does hereby agree to extend Laura
Street, by recorded dedication thereof, easterly across the old
Seaboard Coast Line Railroad yard property (now owned by the City
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of Clearwater) up to a line congruent with the easterly boundary of
Block 8 of Gould and Ewing'S First and Second Addition to Clearwater
Harbor, Florida, as recorded in Plat Book l, page 52, Public Records
of Hillsborough County, Florida, of which Pinellas County was formerly
a part.
V. COUNTERPART DISTRIBUTION
This "Amendment to Agreement" shall be executed in five (5)
counterparts, each of which shall be an original document, and. they
shall be designated and distributed as follows:
COUNTERPART DESIGNATION
Counterpart No. 1
Counterpart No. 2
Counterpart No. 3
Counterpart No. 4
Counterpart No. 5
RECIPIENT
Office of the City Manager,
City of Clearwater
Office of the City Attorney,
City of Clearwater
Bank of Clearwater
Lykes Bros. Inc.
Macfarlane, Ferguson,
Allison & Kelly, Attorneys
6 South Fort Harrison Avenue
P. O. Drawer 29
Clearwater, Florida 33517
IN WITNESS WHEREOF, the parties have hereunto caused this
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instrument to be executed the day and year first above written.
ATTEST :u
(indicate titl
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Signed, Sealed and Delivered in the Presence of:
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As to Lykes Bros. Inc.
STA TEOF FLORIDA )
COUNTY OF HILLSBQROUGH) SS.
I HEREBY CERTIFY that on this day personally appeared before
me, an officer duly authorized to administer oaths and take acknow-
ledgments,
Charles P.' Lykes, President and
C. B. Melvin, Secretary
to me well known to be the persons described in and who executed
the foregoing Amendment to Agreement and duly acknowledged before
me that they executed the same for the purposes therein expressed
as the act and deed of said corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
my official seal at Tam},.a:( - said County and State, this
13th day of --Novemoer I A.D. 1972.
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My Commission Expires:
9 ~ ~, 2lid,eb~~ 4'~/--
Notary Public .
Notary Pu::'iic Sl:l;3 of , ;0;':;:1 :;( L;;,ce
My (;umrcisson Ex;:ircs I,:ay I, lS75:
CITY OF CLEARWATER
BY:~
'City Manager '
and Delivered in the Presence of:
x.~ ~PLe'_,
&zrk/~.hu
to City ,
As
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Approved as to form and correctness:
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City Attorney . ,
STATE OF FLORIDA )
COUNTY OF PINELLAS )
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I HEREBY CERTIFY that on this day personally appeared before
me, an officer duly authorized to administer oaths and take acknow-
ledgments. ." ~
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to me well known to be the persons described in and who executed
the foregoing Amendment to Agreement and duly acknowledged before
me that they executed the same for the purposes therein expressed
as the act and deed of said municipal corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
my official seal at C.llee.~...~ rww,ater, said County and State, this
/ ,'-'f/ day of ~ , A.D. 1972.
&z~ (j, g~Lif.
No ry Public _
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My Commission Expires:
Notarv Public. State of Florida at Large
My Commission Expires Aug, I, 1974
Bonded by Jransamerica Insurance CO.
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BANK OF
A'!'TE~T ~'
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the Presence of:
STATE OF FLORIDA )
COUNTY OF PINELIAS )
SSe
I HEREBY CERTIFY that on this day personally appeared before
me, an officer duly authorized to administer oaths and take acknow-
ledgments,
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to me well known to be the persons described in and who executed
the foregoing Amendment to Agreement and duly acknowledged before
me that they executed the same for the purposes therein expressed
as the act and deed of said Florida banking corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
rn.y official seal a~C_~I'Jater, said County and State, this
, O'~.d ... day of ~ ' A.D. 1972.
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.:~ MY<':ComM1~sion Expires:
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ADDENDA
ADDENDUM # 1:
The said 8-footstripis more particularly designated (by
reference to "proposed R-O-W line") in the attached survey
prepared by C. A. peterson, Inc., dated 9/20/72, which said
survey 1s hereby incorporated herein by reference and made a
part hereof.
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ADDENDUM # 2:
The said triangular sliver is more particularly described
as:
Commence at the NE corner of Section 26,
Township 29 S, Range l5 E, and run thence
S 88058 '4011 W, along the North line of
said Section 26, 734.50' to a point on the
Westerly boundary line of Seaboard Coast
Line Railroad Company's main track right-
of-way j thence S 040ll '1211 W (S 03006 '40" W.
SCLRR) along said Westerly boundary line
895.9b'j thence N 8905l'2711 E, 18.00' to the
P.O.B.j thence S 0025'2l11 E parallel to
Garden Avenue 199.43' to the North right-of-
way of Cleveland Streetj thence S 89051'2711 W,
16.07' j thence N 04oll' 1211 W, 200.00' to the
P.O.B.
The aforesaid triangular sliver which has been legally described
above is more particularly shown and designated as "TRACT 3"
on sheet number 2 of the attached survey prepared by C. A.
Peterson, Inc., dated 9/20/72, which said survey,.,.and both
sheets thereof, are hereby incorporated herein by reference and
made a part hereof.
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AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT made and entered into this 30th day of
December ~
, 1970, by and between BANK OF CLEARWATER, a
Fluriua oankine ('0:rporat\0~. or its assign~ {hereinafter refen't:u to as
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"Bank"}: ann thp CITY OF CLE.~..RW..I.\..TER, FLORIDA, a 11lunici.1Jal corporation
existing under the laws of the St.ate of Florida (hereinafter referred to as
"City");
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WITNESSETH:
WHEREAS, Bank desires to cOnstruct a modern, multi-story
banking and office building at the Northeast corner of Cleveland and Garden
Streets in the downtown area of the City of Clearwater, Florida; and
WHEREAS, Bank desires to acquire a small portion of City-owned
property in order to facilitate such construction; and
WHEREAS, the City desires to improve and upgrade the quality of
structures in downtown Clearwater; and
WHEREAS, the City desires to facilitate ingress and egress from
its off-street parking area on the former Atlantic Coast Railroad Property
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and to provide adequate room for potential future expansion of Garden AvenUf~:
NOW, THEREFORE, in consideration of the premises and the
covenants herein contained, the parties hereto mutually agree as follows:
1. Bank agrees to lease to the City the real property situated in
Pinellas County, Florida, described in Exhibit I attached hereto and made
a part hereof by reference (which shall hereafter be referred to as Parcel 1).
The term of said lease shall be for ten {l0}. years which shall be considered
as having commenced on July 1, 1970
The City shall pay as rent
One-half of the parking meter revenue received from the meters on said
property after first deducting ~}.erefrqm the sum of $5,725.45, which
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repro sen;s 'hE. total cost of the pa ,,:!d",; .:netera, inst'..llation thereof and
paving for the said property. The City shall either payor reimburse the Bank
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for the annual real estate taxes assessed age inst said property, and any
sales or use ,tax applicable because of the lease. The City shall have an option
.to renew the lease for an additional ten (10) year period provided that the
rent ior such }J~riod sOd.llbe in t)uch amuunL~Gltm LV l.H~ agH;ed UpOli. by the
parties: taking into consideration the investment of $36,000. 00 in said
property by the Bank. During the term of the lease or any renewal thereof,
the City shall h~ve an option to purchase sain prope rty for the sum of
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$36,000.00 in accordance with the appraisal attached hereto as Exhibit 3
provided that the sale is approved by Federal and State banking regulatory
agencies.
It is understood that the City shall give to the Bank quarterly accountings
of the revenue received from the parking meters on said property and make
any payment that may be due at that time.
It is also understood that the said property is to be used by the City
as a metered public parking lot; and in the event that the City discontinues this
use, and has not exercised its option to purchase, this lease shall become
null and void and the Bank may reenter and take possessi9n thereof. In the
event, however, that the City and the Bank agree that the meters may be
removed from the parking lot, then it is agreed that a payment in lieu of
meter revenue may be made in amounts monthly as may be agreed upon
considering the amount of revenues derived therefrom during the preceding
two (2) year period so long as the property shall remain open to the public.
2. The City agrees to sell and Bank agrees to purchase for the
sum of $14,400.00 the describe,d real property situate in Pinellas County,
Florida, the description of which is attached hereto and made a part hereof
by reference and marked Exhibit 2, or as much thereof as Bank shall
designate {which shall hereafter be referred to as Parcel 2}.
,~. The prices at whic}-l th~ r~ity shaH pay fv..... rarcel i in the event
it exercises its option to purchase, and at which it will sell Parcel 2, or
the designated portions thereof, have been determined from appraisals of
the parcels that it has obtained at its own cost from ~nM.A.I. appraiser,
copies of said appraisals being attached as Exhibit 3..
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4. As an additional inducement to the City to sell Parcel 2, Bank
agrees to pay the City a sum not exceeding $2, 500. 00 for the purpose of
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landscaping an area, tobe designated bYthe City, immediately adjacent to
and including Parcel 2 but excluding any portion of Parcel 2 necessary for
the propos ed building.
5. Bank agrees to use Parcel 2 as an integral part of the area on
which it proposes to construct a modern, multi-story banking aIIl office
building, provided, however, that a majority of the area must be used for,
sidewalks and open area beautification purposes.
6. It is also agreed that Bank may use such portions of Parcel 2
as .it desires for storage of construction equipment and materials during
construction of the subject building, provided, however, that the construction
of the building shall not interfere with the public's use of the adjacent public
parking l~F'unless approved by the City Commission.
7. It is agreed between the parties hereto that any office building
constructed by Bank on Parcel 2 and the area adjacent thereto shall be set
back from the existing lot line on Cleveland Street, as determined by the
Resolution of the City Commission of August 2, 1948, no less than twenty-five
(25) feet and set ba..ck from the existing lot line on Garden Avenue no less
than ten (10) feet, provided that the ten'\lOl foot set back on Garden Avenue
shall be retained as an open area for sidewalk and beautification purposes and
provided further that an appraisal of the Garden Avenue setback has been
pbtained in the same appraisal as defined in Paragraph 3 hereof and said
appraised price shall be used as the purchase price in the event the City
determines at any tizne in the future that it needs further right of w.ay JDr
the widening of Garden Av~nu~.
8. Bank, in addition, agrees to make available at all times for its
:.mployef's and the tenants of its propt:"s e i building no les s than .~'l ~ hy.ndred
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& ~ ~ private parking spaces off the preltlises and near the area of
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of the Bank construction. To insure this Bank 'lgrees that should the City
bring an action for specific performance to compel Bank to provide the afore-
said required number of parking spaces, to pay all costs of court action
and to reimburse the City reasonable attorney fees on account of court action
involved.
This paragraph shall supersede the closing of the transactions contemplated
herein and shall be binding on both parties so long as Bank or its success.ors
or assigns operates a bank On the premises as contemplated herein.
9. The closing of this transaction shall be within thirty (30) days from
the date of Bank's and the City's acceptance. as the case may be, or later
by mutual agreement of the parties hereto. At least fifteen (IS) days prior
to the date for closing the City agrees to deliver to the Bank a commitment for
title insurance or commitment to guarantee title in the amount of the purchase
price. insuring the title of the purchaser to said parcel. excepting only unpaid
mechanic's and materialmen's liens. taxes. assessments for the current year.
and for the standard conditions and expenses as usually are warranted in the
policy issued by the title insuror. The Bank shall have ten (10) days from
date of receipt of said commitment to examine same and make an objection
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thereto. If no obj~ction is made thereto Within said ten-day period, title
will be deemed to be acceptable. If such written objection is made by the
Bank, the Seller shall have ninety (90) days from the date of receipt of such
written objection by said purchaser in which to remedy such defect. Should
,the City remedy such defect. then this transaction shall thereafter be closed
within the time limits hereinabove set forth. Should the City fail to remedy
such defect. then the Bank shall have the option of terminating this Agreement
and having returned to purchaser allconsiderationt> theretofore given by it
or it may accept title in its then condition and this transaction shall be closed
'.7ithin the time hereinaoove set f""lrth. Wh.l10ut rebate in the pur .~".l.Lse price.
All costs of procuring said commitment and ult.mate title insurance policy
shall be borne by the City.
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10. It is Ir_utually understood and agreed between the parties hereto
that taxes. if any. for the current year shall be prorated as of closing.
11. In the event that the City exercises its option to purchase, as
c.e.+.^''''''''';- 'I"'\~-""""''''~pb 1 +\....- B....~l.. ,..\.......11....___'.... ....:t"- 4.'_~ __.__....:"_~__...._ _I: _____ _'_"._.....;,')
.., .. ""'........ ..."""" rw........b....... ".... "'.,,"'" u,.a.U," Q,UU....... ","v'&'&'&J:".LY YV.a..I..I. '-"'.Ie J:'",vv"'o~v.a..A.i:t VJ. .pct.J.a.gJ.CL,l-I.t
9 in respect to the obligations of a seller. and it is agreed that Bank will
convey Parcell by good and sufficient warranty deed free and clear of all
encumbrances save and except taxes for the current year and restrictions
.
and reservations of record, if any. Bank shall place the required docwnentary
stamps on said warranty deed and the City will pay for recording the same.
12. It is agreed that the City will convey Parcel 2 by good and
sufficient warranty deed free and clear of all encumbrances save and except
taxes, if any. for the current year and restrictions and reservations of record
and subject to the following conditions which shall be inserted in said deed.
to wit:
"Upon the condition that grantee. or its assigns. shall not have
commenced construction of a multi-story office building on and or adjacent to
the above described premises within three (3) years from the date hereof
(commencement of construction to be deemed the pouring of the facility's
foundation). grantor- may enter and terminate the estate hereby conveyed;
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provided. that grantor shall grant the grantee, or it~ assigns, a five (5)
year extension. in recordable form. of the period in which it shall be allowed
to commence construction. upon reasonable evidence presented by grantee.
or its assigns, to the City Commission of the City of Clearwater. in open
hearing. that construction will commence within the said five (5) year period."
With the additional proviso that Bank shall pay the City of Clearwater a
penalty in the amount of Two Hundred Dollars ($200. OO) per month for each
rr.onth elapsed after the first three (3) years, which said payment shall continue
mont}:J.y t]T'til the constr .lc.u.on commences.
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13. In the event that the City exercises its rights, pursuant to the
terms of the preceding paragraph, the City shall tender to Bank the price.
theretofore paid by Bank for said property, and in such event, Bank agrees
to pay for the costs of paving of Parcel 2 comparable to the adjacent City-owned
.
parking area.
14. Both parties hereby mutually agree that this agreement, the
covenants contalned therein and the provision.3 thereof shall be binding upon
the assip'nees and assipnR of t.hp. rp.RDp.rtiVp. n::lrtiplOl.
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IN WITNESS WHEREOF. the parties hereto have caused these presents
to be executed the day and year first written in Clearwater, Florida.
Attest:
Signed, sealed and delivered
in the presence of:
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AS to banK 01 lJlearwater
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:1 P1:~vc' FLO=-
City Manager
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City Clerk
App;pved a/~ to rm & correctness:
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City A ttorner
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STATE OF FLORIDA )
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COUNTY OF PINELLAS )
I HEREBY CERTIFY that On this day, before me, an officer duly
authorized in the State and County aforesaid to take acknowledgments,
personally appeared Jos.F. Cornelius and
Harry hammock, jr. '....ell known to me to be the Cha~g~!a of the
and Asst. Vice Pres .respectively of the corporation named in the foregoing
int::trllTYlpnt ::Inn th::>t t'hou "oHo...."l1,. ...~,,-,.....'~...:l-ed ~.r--.."'~n-' "'h" _. ~ .! "
' .' .,- ----.--., ----- ----- "'....-J -- .-............} -""'.a.~.u."'''''..''''U.b ~~c;.\""u.&..J..L~ L. It; t>d.l.A.J.t::: J.l.1 LlJt::
presence of two subscribing witnesses freely and voluntarily under authority
duly vested in them by said corporation anc1 that the seal affixed thereto is
the true corporate seal of the corporation.
"
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WITNESS my hand and official seal in the County and State last
aforesaid this 30th day of December , A.D. 1970.
My Commission Expires:
NOTAIl{. PUI3l/C,_~TATE ~.F flgR/DA AI LARGE
MY ~U!.'MI~~IONc E~\PjRES JUN[ d 1~7~
fsOtil;fll THl\U FF:tu IY ili. -T., HQk~1 .'
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Notary Public .
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STATE OF FLORIDA )
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COUNTY OF PINELLAS )
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I HEREBY CERTIFY that on this 1 - day of (-0(~ '
A.D. 197', before me personally appeared Merrett R. Stierheim, H~rbertM.
Brown, R. G. Whitehead and H. Everett Hougen, respectively, City Manager,
City Attorney, City Clerk and Mayor-Commissioner of the City of Clearwater,
a municipal corporation existing under the laws of the State of Florida, to me
known to be the individuals and officers described in and who executed the
foregoing instrument and severally acknowledged the execution thereof to be
their free act and deed as such officers thereunto duly authorized, and that
the official seal of said municipal corporation is duly affixed thereto, and the
said instrument is the act and deed of said corporation.
WITNESS my signature and official seal at Clearwater in the County
of Pine1las and State of Florida, the day and year last above written.
My Commission Expires:
Notarv PubliC. St~tP. of Florida at Lar~e
My Commi~~ion E;(pires Aug. 1, 1974
Bonded by lr..ns..jjj"nca Insurance Co_
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:' ';.C' Ad<Ht:'ion (\!O l.'C(~()l.'ucd in :'In[: l~(')()I< ] fllr,C:D oj, tll(l hlbli c f;c'~'oni~ UL l!ill:.b'H'\llii~li
COllI\t:y, Florid.), of 'olhich Pinc:ll"s County ,;as formerly a p.lrt.
r. herchy~{'rt ..:'/ '''':It t'llf: .~urvcy rcp;'cs\!nt(.'u h(.'rc~l'n l:iCCts the r.dni;.it1ln ~:cC1uirc~
mcnt <ldOJlLC'~ ~)J' the F.r-.I'.L.S. nlld t':.: 1'.1..T.:\. <\1.': thl"TC {lre'no cncro~chl~lenr'i,
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The City of Clearwater should get from the Bank of CleaTI1ater,
(500 Cleveland Street Corp.) Lots 1 and 2 of Block 8, of . -
Gould and Ewing First Addition as recorded i~ Plat Book 1,
Page 53, of the Public Records of Hillsborough County,
Florida, of which Pinellas County was formerly a parto
This is for the Parkin~ Lot South df Hendricks
'the East side of Garden Avenue.
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~-- Exhibit 1
The Bank of Clearwater (500 Cleveland Street Corp.)
should get from the City of ' Clearwater the~olloi'Ting,.
"described property:'
'CThe West 18.00 feet of the South 200.00 feet of th~
followine described property:
For R point of reference, commence at tho Northeast corn~~
of Section 16, ~eownshlp 29 South, RcmGe 15 East, f\nd run.
th S th Ht-'V - i 0 ':: --. ~ ,.,-- 1\l,,~.I-l.. , ~'''I''' ,,<-, ",,,"in'
cnce . OU, ~J J )0 '-I'U we::; l>, t..l..LUUC) "HU ..~... v". ----- - - ,.:,
Section, 734.50 feet to a point on tho Westerly boundary
line of SeabonrdCoost Line RnJ.lroad Company's main true1-::'. .
right pf way; thence South 30, 06' 40" vlest along said Host-::-
erly boundary line 632.80 feet to a point on the Hesterly
extension of the South line of Laura Stre€t,' trhe point of
beginning; From the point of beginning thus described,
continue South 30 06' 40" \{est 263.16 feet to the North -
line of Cleveland Street, as established by City Ordina.nce; . .
thence North 880 21' 56" East, along said North line of
Cleveland Street, 60.21 feet; thence North 30 06' 40" East
, 262.68 feet to a point on the We~terly extencion of Enid'
South line o,f Laura Street; thence South 880 ~'9' 10" \Vest,
60.17fept to the point of,beg1nning.. '
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, Both described pro~erties are' in NE-1/4 of Section 16, f
,... TFlOiffiSdhiP 29 South, Range 15 East, City of .Clearwater, r~net5~~y""
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Ross Alexander & Co.
Ross A. Alexander, ,M. A. 1, S. R. A.
REAL TORS 8: APPRAISERS
511 PARK STREET . CLEARWATl:R. FLORiDA 33)16
TELEPHONE H60040H
M.IT,ber:
American Inoticuce of R. Eo Appr....rs
Soci"v,of R. E. Appra.....
ClearWat.r . LacKo . Dun.d,n
Boare! of Realtors
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July 17, 1970
Mr. Gerald B. Weimer
Assistant City Manager
'City of Clearwater
Clearwater, Florida
Dear Mr. Weimer:
Pursuant to your request, I have made an appraisal of the
three vacant tracts located in Gould & Ewings, First Addition
as recorded in Plat Book 1, Page 24, of the Public RecQrds
of Pinellas County, Florida, as requested by you in your
letter of June 10, 1970.
My report of 15 pages, including Addenda, is submitted here-
with describing my methods of approach and containing data
i1UU ~.....jl.iU.ii..::" gd.i..jlt:lt:U .ill my .iHvt::~)l.igaL.iuJl.
.1 have made a careful, detailed inspection of the properties
and after analyzing all the data and facts gathered in my
investigation, I estimate the Market Value' of the three pro-
pertie~, as of June 10th, 1970, to be:
, SIXTY FOUR THOUSAND FOUR HUNDRED DOLLARS ($64,400.00)
.~Res ectfU. .1.lY S.Ub. m... i. tt..e .d.. '.. .. "
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. Ros A. A'exan er,MAI, SRA
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EXHIBIT 3
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PURPOSE OF APPRAISAL
The purpose of this appraisal is to estimate the
market value of three parcels of land, further
described in this report, as of June 10, 1970.
LOCATION OF THE PROPERTY AND LEGAL DESCRIPTION
Parcel No.1 is legally described as Lots '1 and 2,
Block 8, Gould & Ewings First Addition as recorded
in Plat Book 1, Page 24, of the Public Records
of Pinellas County, Florida.
Parcel No.2 is legally described as the west 10
feet of Lots 3, 4~ S, 6, 7, and 8, Block 8, Gould
& Ewings First Addition as recorded in Plat Book 1"
Paga 24, of the Public Records of Pinellas County,
Florida.
Parcel No. 3 is legally described as the west 18
feet of the south 200 feet, Block 8, Gould & Ewings
First Addition as recorded in Plat Book 1, Page 24,
of the Public Records of Pinellas County, Florida.
i'C1i~~l:; l -:~~ 2 :!.~~ ],,,;,.~tPn 'in the first block north
of Cleveland Street on the east side of Garden Avenue.
Parcel No. 3 has 19 feet frontage on Cleveland
Street, approximately 7S feet east of Garden Avenue.
MARKET '.'ALUE
Market Value, as used in this report, is the highest
price estimated in terms of money which a property
will bring if exposed for sale in the open market,
allowing a reasonable time to find a purchaser who
buys wi \':1 knowledge of all the uses to which it is
adapted and for which it is capable of bei~g used.
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ANALYSIS AND CONCLUSIONS
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The Salc.J'Comparison Chart shows the date of sale,
sales price, size and square foot value for each
sale.
These sales range in price from $1.63 to $5.54 per
square foot. The oldest sale took place in Septem-
ber 1965, while the latest sale was made in June
1970 and is not yet closed as of this date.
Many more sales made in the area over the' past
few years were analyzed bu these, located near
subject properties, were deemed more appropriate.
Sale No.4 is subject Parcel No.1. Sale No.3
was verified by a local Realtor to be correct
although stamps on the deed only indicate a sales
.price of $22,000. Sale No.4 was also verified
by the,same Realtor although this transaction has not
been closed and thus the deed has not been recorded.
These two sales were purchased by the Bank of
Clearwater because of necessity for expansion
purposes.
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All the factors, indicative of market value, were
analyzed and considered in arriving at market value
of subject properties.. The improvements on the
~and were disregarded and the values estimated are
for vacant land only.
The sellers of Sale No.5 no longer had any use
for this tract. The property's shape, long and
narrow but containing many square feet, was re-
flected in the price per square foot. It is
generally accepted tha~ tracts with smaller square
. footage will sell for more per square foot than
larger square footage tracts.
After due consideration of all the facts, it is my
opinion that the estimates of value are as follows:
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ANALYSIS AND CONCLUSIbNS (Cont'u.)
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Parcel #1 - 10,676 sq. ft. @ $3.37 or $35,9'18.
Rounded at $36,000.
Parcel #2 - 3,500 sq. ft. @ $4.00 or 14,000.
Parcel #3 3 ,.6 0 0 sq. ft. @ $4.0q or 14,400.
Total $64,400.
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