CHARLES MORTENSEN
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dEAL ESTATE CON~lACT
THIS AGaEEIfJENT, made and entc~l'ed into this 3~ day of
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, 19 lL, bet"'icGn CITY OF CLEAI1'/-rNfEIl,
FLOiUDA, a municipal corporation, hereinafter called "Sellerll, and
CHARLES MORTENSEN, GEORGE YORK, SALVATORE GRIPPARDI and
CHARLES BEELITZ, 3 Century Lane, South Plainfield, N. J. 07080
hereinafter called "Purchaserll~
i'lITNESSE
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That in consideration of the mutual promises and covcn-
ants herein contained, and other valuable considerations passing
between the parties hereto, the Seller agrees to sell and tho Pur-
chaser agrees to buy the following described property situate,
lying and being in Pinellas County, Florida:
West One-Half of
Lot Six (6) of
CLEARWATEd INDUSTdIAL PAAK, accord-
ing to the map or plat thereof as
recorded in Plat Book 44, Page 46,
Public aecords of Pinellas County,
Florida, containing ~~ acres,
upon the following terms and conditions:
(1) 1.'he total purchase price of said property shall be thp
sum of
$44,2l5.00
, payable at the times and in the man-
ner following:
(A) $ 2, 2l5. . 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 $42,000 to be paid at time of closing.
,(C) City agrees to furnish a survey of the property.
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(2) The prop rty shall be conveyed by '\,*XJ{;g:~~r Deed and shall be free
and clear of all encunlbrances whatsoever, except as otherwise provided herein.
(3) It is under stood that this property is subject to the restrictions and
protective covenants of the Clearwater Industrial Park dated June l~, 19 57, and
recorded in Official Record Book l15, at Page 347, Pinellas County Records,
and as suppleluented by am,endluent dated Septen~ber 9, 1957, recorded in O. R.
Book l69, page 542; by aluendment dated August 19, 1959, recorded in O. R.
Book 680, page 63; and by amendment dated September 23, 1968, recorded
in O. R. Book 29l4, page 5l6, said Pincllas 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 con~pleted and
drainage will be installed in said su]?division.by Seller in accordance with require-
ments of the Board of County COlun"lissioners of Pinellas County, Florida,
regulating developrnent of subdivisions. It is further under stood that in the event
that this transaction shall be closed prior to the completion of said in"lprovements
that the responsibility of Seller in connection therewith shall continue until the
same have been completed.
(5) Seller shall pay all ta;x:es through the year 19 75
Taxes
and as ses sments, if any, for the current year shall 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
promis sory note executed.
(6) Possession will be given on the date of closing which, subject to
the provisions of this agreen"lent, shall be on or before forty-five (45)
days from the date of this agreeluent.
(7) Seller agrees, at its expense, to furnish a Commitment for
Title Insurance from a reputable title cOlupany authorized to do busines s in
which will carrnit to insure marketability of title (A.rJTA Fonn B policy) .
Florida, "within five (5) days after execution of this contract and, thereafter,
to pay for an Owner's Title Policy in the face an~ount of the purchase price if the
same is issued. In the event said Commitment for Title Insurance indicates that
the title to said property is merchantable and free and clear of liens and
encUlubrances except as herein otherwise provided, this transaction shall be thcre-
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upon completed CIS herein provided. In the event Commitment shall
indicate otherwise, the Seller shall have a period of si~ty (60)
d,~ys after notification ther'eof within vrhich to cure defects in
title, and this sale shall be closed within ten (10) days after
notice of such curing to the PurchaE,Gr or his attorney. Upon
Seller's failure to correct said defects within the time limit,
the earnest money deposit shall be returned to the Purchaser upon
demand and all rights and liabilities arising hereunder shall ter-
minate. In the event Seller 511811 perform all of his obligations
under this contrCl.ct 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 dat~
may be retained by or delivered to the Seller as liquidated dam-
ages by reason of the PurchaRer'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 agreement s 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.
(lO) Seller recognizes Frank W. Leach & Associates, Inc. as
the broker negotiating this sale and agrees to pay a commission of $4,421. 50
for such sale.
(11) Sellers represent that neither zoning ordinances, governrrental regul
tions or the restrictions referred to in para. 3 above will prohibit the use of the premises for
fabr~cation and manufacturing of Iretal products and machineIy and for use as a light machine shor:
(12) It is agreed and understood that the purchasers shall have the ri~
to assign this contract to a partnership consisting of the purchasers and/or the purchasers' SPO\.
IN WITNESS ~HEREOF, 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.
CITY OF CLEARWATE~, FLOJIDA
A municipal corporation
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COUNTEdSIGNED:
OCT- 1 5 1~78,
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Mayor-Commissione '
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Signed, sealed and delivered
in he presence 0 ~
and c orre ct.ne s f, :
Ii SELLK~;'
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As to rr{})chaser s
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Charles Mortensen
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George York
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, a vatore GriPPa-:t~
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Charles Beelitz
i "PURCHASERSII
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