UPPER PINELLAS ASSOCIATION FOR RETARDED CHILDREN
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dEAL ESTATE CONTRACT
THIS AGREEMENT, made and entered into this ~.1/t:ttday of
,~:I:- , 19~, between CITY OF CLEMWAT&i,
FLORIDA, a municipal corporation, hereinafter called "SeIler", and
UPPER PINELLAS ASSOCIATION FOR RETARDED CHILDREN,
a Florida non-profit corporation,
hereinafter called "Purchaser";
WIT N E SSE T H:
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That in consideration of the mutual promises and coven-
ants herein contained, and other valuable considerations passing
between the parties hereto, the SeIler agrees to sell and the Pur-
chaSer agrees to buy the fOllowing described property situate,
lying and being in Pinellas County, Florida:
Northeast 1/4 of
Lot Twelve (12) of
CLEARWATER INDUSTRIAL PARK, accord-
ing to the map or plat thereof as
recorded in Plat Book 44, Page 46,
Public Records of Pinellas County,
Florida, containing 1.27 acres, M. O. L.
consisting of E. 291. 61 ft. of N. 189.98 ft. of said Lot 12,
following terms and conditions:
upon the
(1) The total purchase price of said property shall be the
sum of ---J3.614.75
ner following:
, payable at the times and in the man-
(A) $ 1,000.00 to be paid on the signing of
this contract as earnest money deposit,re-
ceipt of which is hereby acknowledged by
Seller.
(B) Balance of $2,614. 75 to be paid in cash on closing on or
before sixty (60) days from date hereof.
(C) It is further agreed that Purchaser shall have an option to
purchase the remaining 3/4 of Lot 12 at an additional total
purchase price of $10,844. 25 on or before three (3) years from
the date of the closing of the sales transaction of said NE -1 /4 of
Lot 12. Receipt is hereby acknowledged of the sum of $1,000. 00
as consideration for said option which sum shall be applied to the
purchase price of $10,844. 25 if said option is properly and timely
exercised. To exercise said option the Purchaser shall notify the
Seller in writing at the Clearwater City Hall, Clearwater, Fla.,
of the exercise of said option within said three year period and
tender to the City the balance of said purchase price.
(Continued on Page 2) /~-(JJ5-bl (3/).
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(C) (continued) e e
The remaining terms of this contract shall also apply in the event
of the exercise of this option provison.
(2) The property shall be conveyed by Warranty Deed and
shal1 be free and clear of all encumbrances whatsoever, except as
otherwise provided herein.
(3) It is understood that this property is subject to the
restrictions and protective covenants of the Clearwater Industrial
Park dated June 10, 1957, and recorded in Official de~ord Book 115,
o. R. 169, page 542 & O. R. 680, page 63,
at Page 347,/Pinellas County records.
(4) It is understood that this property is to be improved
and developed as a subdivision for use as an industrial park by
Seller; that it is zoned for use by light industries; and that streets
will be improved and completed and drainage will be installed in said
51 bdi vi sion by Seller in accordance with requirement s of the Board of
County Commissioners of Pinellas County, Florida, regulating develop-
ment of subdivisions. It is further understood that in the event
that this transaction shall be closed prior to the completion of said
improvements that the responsibility of Seller in connection therewith
shall continue until the same have been completed.
(5) SeIler shall pay all taxes through the year 19~.
Taxes and assessments, if any, for the current year sml1 be pro-
rated as of the day of closing.
Seller agrees to place the necessary
Documentary Stamps on the Deed of Conveyance and to pay Intangible
Tax on any Mortgage received as part of the consideration. Purchaser
agrees to place Documentary Stamps on any Promissory Note executed.
(6) Possession wil1 be given on the date of closing which,
subject to the provisions of this agreement, shall be on ~
or before sixty (60) days from date hereof.
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(7) Seller agrees, at its expense, to furnish a Commitment
for Title Insurance from a reputable title company authorized to do
business in Florida, within five (5) days after execution of this con-
tract and, thereafter, to pay for an Owner1s Title PQlicy in the face
amount of the purchase price if the same is issued. In the event said
Commitment for Title Insurance indicates that the title to said pro-
perty is merchantable and free and clear of liens and encumbrances
except as herein otherwise provided, this transaction shall be there-
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upon completed as herein provided. In the event Commitment shall
indicate otherwise, the SeIler shall have a period of sixty (60)
days after notification thereof within which to cure defects in
title, and this sale shall be closed within ten (10) days after
notice of such curing to the Purchaser or his attorney. Upon
Seller's failure to correct said defects within the time limit,
t he earnest money deposit shal1 be returned to the Purchaser upon
demand and all rights and liabilities arising hereunder shall ter-
minate. In the event Seller shal1 perform all of his obligations
under this contract and Purchaser shall fail or refuse to make the
balance of the payments, or to pay the balance of the purchase
price as above set forth, the said cash payment made on this date
may be retained by or delivered to the Seller as liquidated dam-
ages by reason of the Purchaser's failure to complete this agreement.
(8) The loss or damage of the premises by fire or other
casualty until the delivery of the deed is assumed by Seller.
(9) Time is of the essence of this agreement and all coven-
ants and agreements herein contained shall extend to and be obliga-
tory upon the heirs, personal representatives and assigns of the
respective parties. The words "Seller" and "Purchaser" herein em:.,.
ployed shall be construed to include the plural as well as the sin-
gular.
(10) This contract subject to use by purchasers of said property
as an Habilitation Center for the Retarded.
IN WITNESS WHEREOF, the parties have hereunto set their
hands and seals in person and by and through their personal repre-
sentatives the day and year hereinabove mentioned.
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R. G.
By:
Acting
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ATr-EST :.'" /
Whi tehead" -~j:;y:Clerk
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C-J~y Cler:~,~;,. '''- /- _:'
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Signed, 1>ealed. and delivered
in the presence of:
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As to Seller
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Attest:
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form and correctness:
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\'1 SELLEl1, Ii
UPPER PINELLAS ASSOCIATION FOR
RETARDED CHILDREN, a Florida
non fit corporatio
By Q.
S En II