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HILLSBOROUGH COUNTY , ! ::- 'l: I I FINAL: April 7, 1994 CONTRACT FOR PURCHASE AND SALE This contract for Purchase and Sale made and entered into this ~eh day of ('l) I=l Y , 1994, by and between the CITY OF CLEARWATER, a Municipal corporation (the "Seller"), having a mailing address of P. O. Box 4748, Clearwater, Florida 34618-4748, and HILLSBOROUGH COUNTY, a political subdivision of the State of Florida, (the "Buyer"), having a mailing address of P.O. Box 1110, Tampa, Florida 33601; and Stewart Title of Clearwater, (the "Escrow Agent"), having a mailing address of 32722 U.S. 19 North, Palm Harbor, Florida 34684. WITNESSETH: That for and in consideration of the mutual promises and covenants herein contained and mutual advantages accruing to the Seller and the Buyer hereunder and the sum of FIVE THOUSAND DOLLARS ($5,000.00), (the "Deposit") paid by the Buyer to the Escrow Agent the receipt of which (subject to collection) is hereby acknowledged by the Escrow Agent, it is mutually covenanted and agreed by Seller and Buyer as follows: 1. PROPERTY: The Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to purchase from Seller, those certain parcels of real property situated in Hillsborough County, Florida, described in Attachments "A" & "B" attached hereto and incorporated herein by reference (the "Property"), for the price and upon terms and conditions as hereinafter set forth. 2. PRICE AND TERMS: The full purchase price of the Property is ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000.00). The purchase price shall be payable to Seller as follows: PURCHASE PRICE $1,200,000.00 DEPOSIT s 5.000.00 BALANCE PAID AT CLOSING $1,195,000.00 -------------- -------------- The balance shall be paid at closing by Hillsborough County Warrant drawn upon Barnett Bank, N.A. or other financial institution acceptable to Seller and Buyer, and is subject to adjustments and prorations described herein. 3. CLOSING: Subject to the curative periods as provided in Paragraphs 6 (Title Insurance), 7 (Survey), and 8 (Hazardous Substances and Environmental Audit), as well as other conditions of this Contract, Seller and Buyer shall close the sale under this Contract on or before One Hundred Twenty (120) days after the effective date of this Contract. 4. CONVEYANCE: Seller shall convey title of the Property to Buyer as follows: (a) All lands described in Attachment "A" shall be conveyed by Special Warranty Deed subject to the following exceptions (collectively, "permitted exceptions" ) : 1 11 /'1" (,~ , ' f ;, " I '- , . __ Vv" L', (I) " " ~ , , (1) Restrictions and easements of record acceptable to Buyer. (2) Taxes for the year of closing and subsequent years. (3) In accordance with Section 270.11, Florida Statutes, a reservation of an undivided three fourths interest in all the phosphate, minerals, and metals that are or may be in, on, or under the Property and an undivided one half interest in all the petroleum that is or may be in, on, or under Property with the privilege to mine and develop same. Any additional exceptions must be waived and acknowledged by the appropriate party as specified in Paragraphs 6, 7, and 8. (b) Any and all interest in the Property described in Attachment "B"shall be conveyed by Quit Claim Deed, including the mineral rights reserved pursuant to Section 270.11, Florida Statutes, in accordance with the petition to release these rights as requested in paragraph 18 (Release of Mineral and Petroleum Interest). The Seller acknowledges that this conveyance is being granted at no additional cost to the Buyer and that this conveyance is to assure that any and all ownership, current or potential, that the Seller may have in this Property has been conveyed to the Buyer. 5. COSTS: Seller shall pay the costs of (a) the Title Insurance as set forth in Paragraph 6, (b) the Environmental Audit as I set forth in paragraph 8, (c) recording the deeds of conveyance, and (d) documentary stamps on the deeds of conveyance unless it is determined that both Seller and Buyer are exempt and that Florida Statues do not require the payment of documentary stamps on this transaction. The Buyer will pay the costs of (a) the Survey as stated in paragraph 7. Rental income, taxes, and assessments shall be prorated between Buyer and Seller as of the date of closing. Buyer has not engaged the services of any REALTOR or Broker and shall not be responsible for any commission fee or brokerage fee nor be liable to any REALTOR or Broker for any commission or brokerage fee as a result of the purchase of the above described land by the Buyer from the Seller. Seller will pay any commission or brokerage fee. Seller will be responsible for the cost to remove any and all trash, debris, and rubbish from the Property and the cost to plug or cap any well on the Property as directed by Buyer. 6. TITLE INSURANCE: (a) Seller shall, at their sole cost and expense, be responsible or cause to be delivered at closing an owner's title insurance policy issued by a Florida land title insurance company acceptable to Buyer wherein title to the Property is insured to the extent of the purchase price for all Property described in paragraph 4 (a) with only the permitted described exceptions. (b) pertaining land title search, on Seller will request and submit to Buyer a title insurance binder to the Property described in Paragraph 4 (a) as issued by a Florida insurance company herein called "Title Binder" and a fifty year title or before Thirty (30) days after the date of this Contract. 2 ~ ,~ I , (c) In the event title to the Property as described in the Title Binder or any endorsements is, in the sole determination of the Buyer, not insurable for any reason, Buyer shall within Twenty (20) days of receipt of said Title Binder, endorsements, and receipt of the survey, as described in Paragraph 7, notify Seller in writing of any unacceptable defects in title not previously waived (the "Title Defects"). If such notification is not given by Buyer it shall be deemed that the Buyer has accepted the title to the property as described in the title binder so received. In the event the Buyer notifies the Seller that there are Title Defects, the Seller will have the option to either (a) proceed to correct the Title Defects to the satisfaction of the Buyer at the expense of the Seller, or (b) refuse to correct the Title Defects. Seller will have Twenty (20) days within the receipt of the notification from the Buyer as to Title Defects to exercise this option and in the event that the Seller fails to notify the Buyer within the aforementioned Twenty (20) days it will be deemed that the Seller will exercise the option to proceed to correct the Title Defects. In the event the Seller notifies the Buyer that they do not intend to correct the Title Defects to the satisfaction of the Buyer, the Buyer, in its sole discretion, shall have the option of (a) terminating this Contract at which time all deposited funds with accrued interest, if any, shall be returned to Buyer, or (b) accepting the property in its current condition with no corrective action by the Seller. The Buyer will have Twenty (20) days from notification by Seller in which to exercise this option and if the Buyer fails to notify the Seller within the aforementioned Twenty (20) days then it will be deemed that the Buyer has exercised the option to terminate the Contract. If Buyer elects to terminate this Contract pursuant to paragraph 6, Seller's sole obligation shall be to refund to Buyer the Deposit with accrued interest, if any, and, upon the making of such refund this Contract shall terminate and be of no further force and effect and none of the parties hereto shall have any further obligation under this Contract. Seller shall have a period of up to One Hundred Eighty (180) days after exercising the option to correct the Title Defects within which to remove, resolve, or cure any Title Defect and closing will occur within Twenty (20) working days after the Buyer has acknowledged that Seller has cured the Title Defect. If Seller is unable to cure any Title Defect then Seller shall within the aforementioned One Hundred Eighty (180) days, notify Buyer in writing and Buyer shall have the option of (a) terminating this contract at which time all deposited funds with accrued interest, if any, shall be returned to Buyer, (b) accepting the property in its current condition with no further corrective action by the Seller, or (c) extending the period in which to correct the Title Defects to a mutually acceptable date. The Buyer will have Twenty (20) days in which to exercise this option and if the Buyer fails to notify the Seller or if the Seller and Buyer cannot establish a mutually acceptable date for the Seller to correct the Title Defects then it will be deemed that the Buyer has exercised the option to terminate the Contract. If Buyer elects to terminate this contract pursuant to paragraph 6, Seller's sole obligation shall be to refund to Buyer the Deposit with accrued interest, if any, and upon the making of such refund this Contract shall terminate and be of no further force and effect and none of the parties hereto shall have any further obligation under this Contract. 7. SURVEY: On or before Ninety (90) days after the effective date of this Contract, Buyer will request and receive a survey of the property through the Hillsborough county Survey and Mapping Section of the Engineering Services Department to be performed by a surveyor registered as such under the laws of the State of Florida. The survey will show all Property boundaries, permanent improvements, approximate mean high waterline, ordinary high waterline, or safe upland line (if 3 " '" , I applicable), and easements of record. The survey shall be certified or recertified not more than Ninety (90) days prior to closing to Seller, Buyer, and Escrow Agent, and show the approximate acreage of the property computed to the nearest tenth of an acre. If the survey shows (a) any encroachments on the property or that an improvement, if any, located on the Property encroaches on other lands (collectively, "Encroachments"), or (b) that there are gaps, overlaps, or other violations of this Contract ( collectively, "Survey Defects"), notice to that effect shall be given to Seller within Twenty (20) days of Buyers receipt of the Survey. If such notification is not given by Buyer it shall be deemed that the Buyer has accepted the Survey to the Property as so received. In the event the Buyer notifies the Seller that there are Encroachments and/or survey Defects, the Seller will have the option to either (a) proceed to correct the Encroachments and/or Survey Defects at the Seller's expense to the satisfaction of the Buyer, or (b) refuse to correct the Encroachments and/or survey Defects. Seller will have Twenty (20) days within the receipt of the notification from the Buyer as to Encroachments and/or Survey Defects to exercise this option and in the event that the Seller fails to notify the Buyer within the aforementioned Twenty (20) days it will be deemed that the Seller will exercise the option to proceed to correct the Encroachments and/or Survey Defects. In the event the Seller notifies the Buyer that they do not intend to correct the Encroachments and/or Survey Defects to the satisfaction of the Buyer, the Buyer, in its sole discretion, shall have the option of (a) terminating this Contract at which time all deposited funds with accrued interest, if any, shall be returned to Buyer, or (b) accepting the Property in its current condition with no corrective action by the Seller. The Buyer will have Twenty (20) days in which to exercise this option and if the Buyer fails to notify the Seller then it will be deemed that the Buyer has exercised the option to terminate the Contract. If Buyer elects to terminate this contract pursuant to paragraph 7, Seller's sole obligation shall be to refund to Buyer the Deposit with accrued interest, if any, and upon the making of such refund this Contract shall terminate and be of no further force and effect and none of the parties hereto shall have any further obligation under this Contract. Seller shall have a period of up to One Hundred Eighty (180) days after exercising the option to correct the Encroachments and/or Survey Defects within which to remove, resolve, or cure any Survey Defect and closing will occur within Twenty (20) working days after the Buyer has cured the Encroachments and/or Survey Defects. If Seller is unable to cure the Encroachments and/or Survey Defects then Seller shall within the aforementioned One Hundred Eighty (180) days, notify Buyer in writing and Buyer shall have the option of (a) terminating this Contract at which time all deposited funds with accrued interest, if any, shall be returned to Buyer, (b) accepting the property in its current condition with no further corrective action by the Seller, or (c) extending the period in which to correct the Encroachments and/or Survey Defects to a mutually acceptable date by which to correct the Encroachments and/or Survey Defects. The Buyer will have Twenty (20) days in which to exercise this option and if the Buyer fails to notify the Seller or if the Seller and Buyer cannot establish a mutually acceptable date for the Seller to correct the Encroachments and/or Survey Defects then it will be deemed that the Buyer has exercised the option to terminate the Contract. If Buyer elects to terminate this Contract pursuant to paragraph 6, Seller's sole obligation shall be to refund to Buyer the Deposit with accrued interest, if any, and upon the making of such refund this Contract shall terminate and be of no further force and effect and none of the parties hereto shall have any further obligation under this Contract. Notwithstanding, the provisions of Paragraph 10 (Effects of Default) hereof, termination of this Contract shall be Buyer's sole remedy if Seller fails to correct any Encroachments and/or Survey Defects. 4 . '"'. I I 8. HAZARDOUS SUBSTANCES AND ENVIRONMENTAL AUDIT: The Seller covenants that, to the best of their knowledge and belief, no hazardous substances, pollutants, contaminants, or hazardous wastes as defined in any applicable Federal, State, or Local laws, statutes, rules, and regulations including, but not limited to, asbestos, PCBs and urea formaldehyde, have been generated, released, stored or deposited over, beneath or on the Property or in any structures located on the Property from any source whatsoever by Seller or by its predecessors in interest in the Property or by any other person or entity. Seller has no knowledge of any buried, partially buried or above ground tanks, storage vessels, drums, or containers located on the Property or knowledge of any release of hazardous materials onto or into the Property. Seller warrants that during the time of their ownership of the Property no hazardous wastes were placed, released, stored, buried, disposed, or dumped onto the Property. Seller will remove all trash and debris from the Property prior to closing. The Buyer will direct the Seller as to the wells on the Property that will be capped and those that will be plugged. All work performed for capping or plugging will be done in accordance with the standards of the Southwest Florida Water Management District. Within Sixty (60) days from the effective date of this Contract, the Seller, at its sole cost and expense, shall cause to have conducted a Transactional Environmental Risk Audit (the "Audit") of the Property, as defined in Attachment "C". The Audit will be conducted by a qualified expert in the field of environmental engineering, acceptable to Buyer. The Buyer shall review the Audit for completeness, and determine if there are any unacceptable contaminations or exceptions. If the Audit results reveal levels of hazardous waste or pollutants which Buyer, in its sole discretion, deems unacceptable (the "Audit Exceptions"), notice to that effect shall be given to Seller within Twenty (20) days of Buyers receipt of the Audit. If such notification is not given by Buyer it shall be deemed that the Buyer has accepted the Audit to the Property as so received. In the event the Buyer notifies the Seller that there are Audit Exceptions, the Seller will have the option to either (a) proceed to correct the Audit Exceptions at the Seller's expense to the satisfaction of the Buyer, or (b) refuse to correct the Audit Exceptions. Seller will have Twenty (20) days within the receipt of the notification from the Buyer as to Audit Exceptions to exercise this option and in the event that the Seller fails to notify the Buyer within the aforementioned Twenty (20) days it will be deemed that the Seller will exercise the option to proceed to correct the Audit Exceptions. In the event the Seller notifies the Buyer that they do not intend to correct the Audit Exceptions to the satisfaction of the Buyer, the Buyer, in its sole discretion, shall have the option of (a) terminating this Contract at which time all deposited funds with accrued interest, if any, shall be returned to Buyer, or (b) accepting the Property in its current condition with no corrective action by the Seller. The Buyer will have Twenty (20) days in which to exercise this option and if the Buyer fails to notify the Seller then it will be deemed that the Buyer has exercised the option to terminate the Contract. If Buyer elects to terminate this Contract pursuant to Paragraph 8, Seller's sole obligation shall be to refund to Buyer the Deposit with accrued interest, if any, and upon the making of such refund this Contract shall terminate and be of no further force and effect and none of the parties hereto shall have any further obligation under this Contract. Seller shall have a period of up to One Hundred Eighty (180) days after exercising the option to correct the Audit Exceptions within which to accomplish the necessary research, testing, or other actions to correct any Audit Exceptions and submit to the Buyer the appropriate documentation and/or evidence that the Audit Exceptions have been corrected to the Buyer's satisfaction. The Buyer will have Thirty (30) days to review this documentation and/or evidence to determine, 5 I I in the sole opinion of the Buyer, if the Audit Exceptions have been corrected. Within the aforementioned Thirty (30) days the Buyer will advise the Seller that (a) the Audit Exceptions have been corrected and, subject to the other conditions of this Contract, closing will occur within Twenty (20) working days after the Seller's receipt of this notice, or (b) the Buyer, in its sole opinion, has determined that the Audit Exceptions have not been corrected. If Seller is unable to cure the Audit Exceptions to the satisfaction of the Buyer, then Seller shall within the aforementioned One Hundred Eighty (180) days or within Twenty (20) days of the notification from the Buyer that the Audit Exceptions have not been corrected, whichever is later, the Seller shall notify Buyer in writing and Buyer shall have the option of (a) terminating this Contract at which time all deposited funds with accrued interest, if any, shall be returned to Buyer, (b) accepting the Property in its current condition with no further corrective action by the Seller, or (c) extending the period in which to correct the Audit Exceptions to a mutually acceptable date by which to correct the Audit Exceptions. The Buyer will have Twenty (20) days in which to exercise this option and if the Buyer fails to notify the Seller or if the Seller and Buyer cannot establish a mutually acceptable date for the Seller to correct the Audit Exceptions then it will be deemed that the Buyer has exercised the option to terminate the Contract. If Buyer elects to terminate this Contract pursuant to Paragraph 8, Seller's sole obligation shall be to refund to Buyer the Deposit with accrued interest, if any, and upon the making of such refund this Contract shall terminate and be of no further force and effect and none of the parties hereto shall have any further obligation under this Contract. Notwithstanding, the provisions of Paragraph 10 (Effects of Default) hereof, termination of this Contract shall be Buyer's sole remedy if Seller fails to correct any Audit Exception relative to the Buyer's purchase of the Property. The Seller acknowledges that the Buyer may have statutory obligations that are not controlled, restricted or terminated by this Contract. 9. COVENANTS, REPRESENTATION, AND WARRANTIES: Seller hereby covenants, represents, and warrants, now and through the closing of this Contract: (a) That Seller has good and marketable title to the Property described in Attachment "A" subject to the items described in section 4 (a) hereof, or will have good and marketable title prior to the closing date. (b) That Seller has made no commitments (either oral or written) to any organization, governmental body, or other entity to dedicate any portion of the Property for public or private use. (c) That Seller has not received notice of any pending condemnation or similar proceeding affecting the Property or any portion thereof. (d) That Seller has no knowledge of any actions, suits, or proceedings, pending or threatened, against or affecting the Property or any portion thereof, or relating to or arising out of the ownership of the Property or any portion thereof, in any court or before or by any governmental entity. (e) There are no leasehold interests in the Property, or if there are, that they shall be terminated prior to or at the time of closing. (f) That during the time of the Seller's ownership of the Property the Seller warrants that no hazardous wastes, hazardous substances, pollutants and/or contaminants were placed, released, stored, buried, disposed, or dumped onto the Property. 6 ~ . I I 10. EFFECTS OF DEFAULT: Except as otherwise provided herein, if Seller is not in default pursuant to any of the terms of this Contract and Buyer fails to purchase the Property or to perform any of the covenants, conditions or warranties of this Contract, Seller shall be entitled to retain the deposit and accrued interest, if any, such sum being agreed upon as liquidated damages in full payment for the failure of Buyer to perform the duties and obligations imposed upon it pursuant to this Contract and in consideration of the removal of the Property from the market, in recognition of the difficulty, inconvenience, and uncertainty of ascertaining actual damages, and no other rights, remedies, or damages shall in any case be collectible, enforceable, or available to Seller other than as provided in this section, and Seller agrees to accept and take such deposit and accrued interest, if any, as Seller's total damages and relief hereunder in such event. If Seller, for any reason, fails to perform any of the covenants, conditions, or warranties of this Contract, Buyer shall at its option (a) waive the nonperformance and proceed with closing (b) be entitled to the immediate return of the deposit with accrued interest, if any, and terminate this Contract or (c) have the remedy of specific performance of this Contract. 11. MISCELLANEOUS: (a) Governinq Law This Contract shall be governed by and construed in accordance with the laws of the State of Florida. (b) Exhibits Attachments "A", "B", "C", and "D" are attached to and incorporated herein by reference. (c) Bindinq Effect This Contract shall be binding upon and inure to the benefit of the parties hereto, and their respective heirs, personal representatives, successors and assigns. The covenants of this Contract will survive delivery and recording of the deed and possession. (d) Entire Contract This Contract and the Exhibits and Attachments hereto contain the final and entire Contract between the parties hereto with respect to the sale and purchase of the Property and are intended to be an integration of all prior negotiations and understandings. This Contract supersedes all prior negotiations, understandings, representations, or agreements, both written or oral. Buyer and Seller shall not be bound by any terms, conditions, statements, warranties, or representations, oral or written, not contained herein. No change or modification of this Contract shall be valid, unless the same is in writing and signed by the parties hereto. No waiver of any provision of this Contract shall be valid unless in writing and signed by the party who possesses the right to waive enforcement of same. (e) Multiple Counterparts This Contract may be executed in more than one counterpart, each of which shall be deemed an original. (f) Severability If anyone or more of the provisions of this Contract should be held contrary to law or public policy, or should for any reason whatsoever be held invalid or unenforceable by a court of competent jurisdiction, then such provision or provisions shall be null and void and shall be deemed separate from the remaining provisions of this Contract, which remaining provisions shall continue in full force and effect, provided that the rights and obligations of 7 ~. .. I I the parties contained herein are not materially prejudiced and the intentions of the parties continue to be effective. (g) Survivability Any term, condition, covenant, or obligation which requires performance by either party subsequent to termination of this Contract shall remain enforceable against such party subsequent to such termination. (h) Time of Essence Time of performance hereunder by Seller and Buyer is hereby made the essence of this Contract. (i) Effective Date of Contract This Contract shall be effective as of the date the Contract is approved by the Hillsborough County Board of County commissioners as Buyer. (j) Titles The titles used in this Contract are for convenience only and are, not intended to imply or restrict application. (k) Sianina If this Contract is not approved by Buyer on or before May 18, 1994, this Contract shall be null and void and of no further force and effect. (1) Authorization Each party represents to the other that such party has authority under all applicable laws to enter into a Contract containing such covenants and provisions as are contained herein, that all of the procedural requirements imposed by law upon each party for the approval and authorization of this Contract have been properly completed, and that the persons who have executed the Contract on behalf of each party are authorized and empowered to execute said Contract. (m) Radon Gas Radon is a naturally occurring gas, that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your County health unit. 12. ESCROW AGENT: The Escrow Agent agrees to hold, keep, and deliver the Deposit and all other sums delivered pursuant hereto in accordance with the terms and provisions of this Contract. In the event Escrow Agent receives written notice from either party of any disagreement between Buyer and Seller resulting in any adverse claims and demands being made in connection with or for the monies involved herein or affected hereby, Escrow Agent shall be entitled to refuse to comply with any such claims or demands so long as such disagreement may continue; and in so refusing Escrow Agent shall make no delivery or other disposition of any of the monies then held by it under terms of this Contract and in so doing, Escrow agent shall not become liable to anyone for such refusal. Buyer and Seller, to the extent allowed by law and subject to the provisions of Section 768.28, Florida Statutes, jointly and severally agree to indemnify and hold harmless Escrow Agent from any and all reasonable costs, damages, and expenses, including reasonable attorneys' fees and paralegal fees, that Escrow Agent may incur in its good faith compliance with the terms of this Contract, including but not limited to any and all such costs, damages, and fees incurred in connection with the filing of an action in the nature of interpleader 8 ~ I ,) by Escrow Agent in the event of disagreement between Buyer and Seller as provided hereinabove; provided, however, this indemnification provision shall not extend to any acts of negligence, willful malfeasance, or omission on the part of Escrow Agent. The Seller, Buyer, and Escrow Agent hereby certify that they are aware that the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings & Loan Insurance corporation (FSLIC) coverage, whichever is applicable to this Contract, apply only to a maximum amount of $100,000 for each individual depositor. The Seller and Buyer understand that the Escrow Agent assumes no responsibility for, nor will be held liable for, any loss occurring which arises from the fact that the amount of the above account may cause the aggregate amount of any individual depositor's accounts to exceed $100,000 and that the excess amount is not insured by the FDIC or FSLIC, whichever is applicable to this agreement. The Deposit will beheld in Barnett Bank, N.A. or other bank acceptable to Buyer, in an interest- bearing, money market account at the option and direction of Buyer. The accrued interest on the Deposit will be refunded to the Buyer at time of closing or as otherwise provided in this Contract. 13. NOTICES: Any and all notices, requests or other communications hereunder shall be deemed to have been duly given if in writing and if transmitted by hand delivery with receipt therefore, or by certified mail posted prior to the expiration date for such notice, return receipt requested and first class postage prepaid as follows: To Seller: City of Clearwater P. O. Box 4748 Clearwater, Florida 34618-4748 Attention: Elizabeth M. Deptula To Buyer: Hillsborough County Board of County Commissioners P.O. Box 1110 Tampa, Florida 33601 Attention: Kurt Gremley To Escrow Agent: Stewart Title of Clearwater 32722 u.S. 19 North Palm Harbor, Florida 34684 Attention: Mikell st. Germain 14. RESTORATION PLAN AND RESTORATION FUNDING: The Seller acknowledges that the Buyer's purchase of the Property is dependent upon the Seller providing Two Hundred Thousand Dollars ($200,000.00) towards the cost of restoring the habitat and natural plant communities (the "Restoration Funding"). A Conceptual Restoration Plan has been attached as Exhibit "0" (the "Conceptual Restoration Plan"). The Restoration Funding will be provided to the Buyer from the Seller's proceeds at closing. The Buyer will deposit the Restoration Funding in an interest bearing account (the "Restoration Account") and will provide the Seller with an annual statement (the "Restoration Account Statement"), with the first statement to cover the term from the date of closing to September 30, 1995 and subsequent statements will cover from October 1st to September 30th for each year thereafter during the term of the Restoration Account. Any interest earnings will not to be used for restoration related expenses and will be returned to the Seller in accordance with this paragraph. The Restoration Account Statement will indicate the beginning balance of the Restoration Account, interest earnings, a detailed listing of all restoration related expenses, and the closing balance. 9 .... 1 I The Restoration Account statements will be provided to Seller no later than December 1st of that year. Within One (1) year of closing or by September 30, 1995, whichever occurs first, the Buyer will provide the Seller a detailed plan indicating the actions the Buyer and/or their authorized agent will take to restore the site to a more natural and/or environmentally beneficial condition (the "Restoration Plan"). The Restoration Plan will detail the activities originally indicated in the Conceptual Restoration Plan and the anticipated schedule. The Buyer will provide the Seller with an annual report providing a summary of the restoration related activities at the time the Restoration Account Statement is provided. The Seller acknowledges that due to events that may be beyond the control of the Buyer and that the restoration of upland natural systems is a relatively new process that there may be modifications in the Restoration Plan, but it will not substantially deviate from the Conceptual Restoration Plan. The Seller and Buyer recognizes that each is a public agency and that the accounting for the expenditures must comply with the requirements of their respective Clerks of the Circuit Court. The Seller will have Thirty (30) days from their receipt of the Restoration Account Statement for the purposes of verifying that the purpose of the expenditures are acceptable. If within the aforementioned Thirty (30) days the Seller does not provide the Buyer with written notice that they question any expenditure, then the expenditures indicated on the Restoration Account Statement will be considered acceptable. In the event the Seller disputes or questions an expenditure indicated on the Restoration Account Statement, within Sixty (60) days of the Buyer's receipt of the notification from the Seller, the Buyer will provide verification from the Clerk of the Circuit Court that the expenditure was made in conjunction with the Restoration Plan and will be considered acceptable verification that the expenditure is associated with the restoration of the Property. If the Buyer's Clerk cannot provide this verification, the Restoration Account Statement will be adjusted accordingly. Upon notification to the Seller from the Buyer that the Restoration Plan is completed or October 1, 2004, whichever occurs first, the Buyer will refund to the Seller the balance of the Restoration Account, including all accrued interest earnings, in the form of a Hillsborough County Warrant at which time the Buyer's obligation to provide the Restoration Account Statement and annual statement on summarizing restoration activities will terminate. 15. RELEASE OF MINERAL AND PETROLEUM INTEREST: By way of this Contract and in accordance with Section 270.11(3), Florida Statutes, the Buyer petitions the Seller for the release of the reservation of an undivided three fourths interest in all the phosphate, minerals, and metals that are or may be in, on, or under the Property and an undivided one half interest in all the petroleum that is or may be in, on, or under Property with the privilege to mine and develop same that are to be reserved by the Seller in accordance with Section 270.11(1), Florida Statutes. The Buyer requests the release of these mineral interests in order to more effectively manage the Property for preservation and resource based recreation. The Buyer is also subject to the provisions of this statute. These mineral rights will be conveyed by the Seller by the Quit Claim Deed referenced in Paragraph 4(b) and the conveyance will be at no additional cost to the Buyer. 16. RIGHT OF FIRST REFUSAL: The Buyer and Seller acknowledge that the Buyer is purchasing the Property for the purpose of preservation in accordance with the Environmental Lands Acquisition and Protection Program (ELAPP) and that ordinances governing this program restrict the sale of lands. In accordance with the ordinances, the Buyer is not designating any portion of this property for sale as an "Acquisition of Convenience" for future conveyance to a private party. However, if, in the unlikely event the Buyer wishes to sell the Property, the Seller reserves the right of first refusal to purchase the Property at the same purchase price as set forth in this agreement. After receipt and acceptance of an offer to purchase, 10 l"!"_ . ~ I I and prior to the consideration of same, the Buyer will notify the Seller of the proposed sale of the Property and the terms of the offer to purchase. The Seller will have Thirty (30) days from the receipt of this notice to exercise this option. If the Seller elects to purchase the Property, they must proceed under the same terms and conditions as stated in the offer to purchase, except that the purchase price shall be the same amount as set forth herein. In the event that the Seller fails to respond, it will be deemed that the Seller waives their right to purchase the Property. It is expressly understood and acknowledged by the Seller that this right of first refusal will not apply to a transaction or sale to another government agency or entity where the Property will be held for the express purposes of preservation, natural resource protection, and resource based protection or for any additional right-of-way for existing roads. 17. ACREAGE ADJUSTMENT: The Purchase Price is based on the Property containing Three Hundred Ninety One (391) acres (including interior rights-of-ways but excluding rights-of way on the exterior boundary of the Property) and the Purchase Price will be adjusted based on Three Thousand Seventy Dollars ($3,070.00) per acre for every acre or portion thereof varying from Three Hundred Ninety One (391) acres Within Twenty (20) days of the Buyer's receipt of the Survey, the Buyer will supply the Seller with Two (2) copies of the Survey and the calculations for the adjustment to the purchase price. If there is more than a Twenty (20) acre increase from the aforementioned acreage, the Buyer reserves the right to terminate the Contract within Forty (40) days of the receipt of the Survey. If there is more than a Twenty (20) acre decrease from the aforementioned acreage, the Seller reserves the right to terminate the Contract within Forty (40) days of the receipt of the Survey from the Buyer. If either the Buyer or the Seller fails to exercise the option to terminate within the time specified in this paragraph it will be deemed that they have waived their respective right to terminate the Contract, if applicable. 11 1 IN WITNESS WHEREOF, the parties have executed this Contract as of the day and year first above written. I Countersigned: Signed, sealed and delivered in the presence of: Approved as to Correctness: ATTEST: RICHARD AKE CLERK OF THE CIRCUIT COURT WITNESSES: ~L'~ ~-~~~~j~ ~AS TO ESCROW AGENT / BOARD OF COUNTY COMMISSIONERS. HILLS BOROUGH COUN"N FLORlDA DOCUMENT NO. 11.(-013/ "SELLER" CITY OF CLEARWATER By' ~~-cI Cit an er Attest: Q~, C. Ji. -0... Ci Clerk "BUYER" HILLSBOROUGH COUNTY, A POLITICAL SUBDIVISION OF THE STATE OF FLORIDA, MAY 2 7 1994 "ESCROW AGENT" STEWART TITLE OF CLEARWATER Mikell St. Germain Office Manager Date: ~ '/3-9,/ By' Approved as to form ~d '1C1~ 12 STATE OF FLORIDA COUNTY OF ~ Y'1"<<-l \ c........S The foregoing instrument was acknowledged before me this I ~ -HI day of -V u h ~ ~ s l'le> , 199~, by Mikell St. Germain, who is personally known to me or who I I has produced as identification. NOTARY PUBLIC: MyComrnission Expires: ~~~~ ~~O,~ ~.-CC 11::'''''9P6 13 I ATTACHMENT "A" I Legal Description All Property above the ordinary high water line within the following: A parcel of land owned by the Seller located south of Tarpon Springs Road and west of Patterson Road in Sections 18 & 19 of Township 27 South, Range 17 East in Hillsborough County Florida, more specifically described as follows: Tracts 1, 5, 6, 7, 8, 10, 11, 12, 13, 14, and 15 in the SW 1/4 of Section 18-27-17, KEYSTONE PARK COLONY, and Tracts 2, 3, and 4 in the SW 1/4 of Section 18-27-17, KEYSTONE PARK COLONY, less that part described as follows: From the NW corner of the SW 1/4 of the NW 1/4 run South along the West section line 2559.78 feet to the point on the West line of Tract 4 for a Point of Beginning, thence run N81037'E, 460 feet, thence S82029'E 100.25 feet, thence N83022'E, 132.60 feet, thence N72033'E, 49.36 feet, thence N44048'E, 78.30 feet, thence N18021'E, 115.61 feet, N32019'E, 61.00 feet, thence N76047'E, 123.86 feet, thence S74002'E, 118.60 feet, thence S44037'E, 151.44' feet, thence S61015'E, 44.77 feet, thence S78016E, 276.33 feet, thence N76044'E, 44.00 feet, thence N47053'E, 287.36 feet, thence N35050'W, 162.48 feet, thence N33019'W, 98.58 feet, thence N13032'W to a point of intersection with the north line of Tract 3, thence West along the North boundary line of Tracts 3 and 4 to the NW corner of Tract 4, thence South to the Point of Beginning. And Tracts 15, 16 and that part of Tract 14 in the NW 1/4 of Section 18-27-17, KEYSTONE PARK COLONY, lying East of the following line: Commencing at the SE corner of the NE 1/4 of the SW 1/4 of the NW 1/4, thence S07018'W, 598.21 feet, thence S13032'E, 83.54 feet, and Tracts 5 and 6 in the NE 1/4 lying South of Tarpon Springs Road. And Tracts 4, 5 and 6 in the SE 1/4 and Tract 3 in the SE 1/4 less lot beginning at the NE corner of Tract 3 and run South 30 feet, Northwesterly to the NW corner of Tract 3 and East 665 feet to the Point of Beginning, all in Section 18-27-17, KEYSTONE PARK COLONY. And the West 1/2 of the SW 1/4 of the NE 1/4; And the NE 1/4 of the SW 1/4 of the NE 1/4 and Tract beginning at the NW corner of the SE 1/4 of the SW 1/4 of the NE 1/4 and run S89043'E 30.00 feet along the north boundary of the SE 1/4 of the SW 1/4 of the NE 1/4; thence Southwesterly to the SW corner of the SE 1/4 of the SW 1/4 of the NE 1/4; thence North 676.12 feet to the Point of Beginning, all in KEYSTONE PARK COLONY, as per map of plat thereof recorded in Plat Book 5, Page 55 of the Public Records of Hillsborough County, Florida, all being in Section 18- 27-17. Page 1 of 2 and Tracts 3, 4, 5 and 6 in the NE 1/4 lying West of Patterson Road and Tracts 1, 2, 3, 4, 5, 6, 7 and 8 in the NW 1/4, less and except that part of the above lying South of the following described line: Commence at the West 1/4 corner of Section 19-17- 17, thence along the West line of the NW 1/4 of said Section 19, run NOPIO'lO"W, 142JSO feet for a Point of Beg!ning; thence run N89012'30'E, 3456.79 feet to the centerline of Patterson Road. All in KEYSTONE PARK COLONY, as per map or plat thereof recorded in Plat Book 5, Page 55 of the Public Records of Hillsborough County, Florida, all being in Section 19-27-17. Subject to Right-of-Way on Patterson Road and Right-of-Way in KEYSTONE PARK COLONY Subdivision. and Tracts 9 and 16 in the SW 1/4 of Section 18-27-17, also Tracts 11, 12, 13, and 14 in the SE 1/4 of Section 18-27-17, KEYSTONE PARK COLONY SUBDIVISION, according to map or plat thereof as recorded in Plat Book 5, page 55 of the Public Records of Hillsborough County, Florida, and that portion of the SE 1/4 of the SE 1/4 of Section 18-27-17, Hillsborough County, Florida, lying West of Patterson Road and The platted 15.00 feet rights-of-way as shown on the plat of KEYSTONE PARK COLONY SUBDIVISION, as recorded in Plat Book 5, page 55, of the Public Records of Hillsborough County, Florida, abutting said described parcels: LESS THE FOLLOWING DESCRIBED PARCEL: The South 300.00 feet of Tract 13 in the SE 1/4, less the West 229.30 feet thereof and that portion of the South 300.00 feet of Tract 14 in the SE 1/4 lying West of Patterson Road, all being in section 18-27-17, KEYSTONE PARK COLONY SUBDIVISION, according to map or plat thereof as recorded in Plat Book 5, page 55, of the Public Records of Hillsborough County, Florida; and That portion of the South 315.00 feet of the SE 1/4 of the SE 1/4 of Section 18-27-17, Hillsborough County, Florida lying West of Patterson Road. and Together with the 15.00 foot platted rights-of-way, as shown on the plat of KEYSTONE PARK COLONY SUBDIVISION, as recorded in Plat Book 5, page 55 of the Public Records of Hillsborough County, Florida, abutting said described parcels. All subject to a reservation of an undivided three fourths interest in all the phosphate, minerals, and metals that are or may be in, on, or under the Property and an undivided one half interest in all the petroleum that is or may be in, on, or under Property with the privilege to mine and develop same as required by Section 270.11, Florida Statutes. Page 2 of 2 Exact legal description subject to final property survey. I ATTACHMENT "B" I .. Legal Description All and all interest in the following Property below the ordinary high water line and the undivided three fourths interest in all the phosphate, minerals, and metals that are or may be in, on, or under the Property and an undivided one half interest in all the petroleum that is or may be in, on, or under Property with the privilege to mine and develop same that have been reserved by Seller as required by Section 270.11, Florida Statutes, within the following: A parcel of land owned by the Seller located south of Tarpon Springs Road and west of Patterson Road in Sections 18 & 19 of Township 27 South, Range 17 East in Hillsborough County Florida, more specifically described as follows: Tracts 1, 5, 6, 7, 8, 10, 11, 12, 13, 14, and 15 in the SW 1/4 of Section 18-27-17, KEYSTONE PARK COLONY, and Tracts 2, 3, and 4 in the SW 1/4 of Section 18-27-17, KEYSTONE PARK COLONY, less that part described as follows: From the NW corner of the SW 1/4 of the NW 1/4 run South along the West section line 2559.78 feet to the point on the West line of Tract 4 for a Point of Beginning, thence run N81037'E, 460 feet, thence S82029'E 100.25 feet, thence N83022'E, 132.60 feet, thence N72033'E, 49.36 feet, thence N44048'E, 78.30 feet, thence N18021'E, 115.61 feet, N32019'E, 61.00 feet, thence N76047'E, 123.86 feet, thence S74002'E, 118.60 feet, thence S44037'E, 151.44' feet, thence S61015'E, 44.77 feet, thence S78016E, 276.33 feet, thence N76044'E, 44.00 feet, thence N47053'E, 287.36 feet, thence N35050'W, 162.48 feet, thence N33019'W, 98.58 feet, thence N13032'W to a point of intersection with the north line of Tract 3, thence West along the North boundary line of Tracts 3 and 4 to the NW corner of Tract 4, thence South to the Point of Beginning. And Tracts 15, 16 and that part of Tract 14 in the NW 1/4 of Section 18-27-17, KEYSTONE PARK COLONY, lying East of the following line: Commencing at the SE corner of the NE 1/4 of the SW 1/4 of the NW 1/4, thence S07018'W, 598.21 feet, thence S13032'E, 83.54 feet, and Tracts 5 and 6 in the NE 1/4 lying South of Tarpon Springs Road. And Tracts 4, 5 and 6 in the SE 1/4 and Tract 3 in the SE 1/4 less lot beginning at the NE corner of Tract 3 and run South 30 feet, Northwesterly to the NW corner of Tract 3 and East 665 feet to the Point of Beginning, all in Section 18-27-17, KEYSTONE PARK COLONY. And the West 1/2 of the SW 1/4 of the NE 1/4; And the NE 1/4 of the SW 1/4 of the NE 1/4 and Tract beginning at the NW corner of the SE 1/4 of the SW 1/4 of the NE 1/4 and run S89043'E 30.00 feet along the north boundary of the SE 1/4 of the SW 1/4 of the NE 1/4; thence Southwesterly to the SW corner of the SE 1/4 of the SW 1/4 of the NE 1/4; thence North 676.12 feet to the Point of Beginning, all in KEYSTONE PARK COLONY, as per map of plat thereof recorded in Plat Book 5, Page 55 of the Public Records of Hillsborough County, Florida, all being in Section 18- 27-17. Page 1 of 2 and ., I and Tracts 9 and 16 in the SW 1/4 of Section 18-27-17, also Tracts 11, 12, 13, and 14 in the SE 1/4 of Section 18-27-17, KEYSTONE PARK COLONY SUBDIVISION, according to map or plat thereof as recorded in Plat Book 5, page 55 of the Public Records of Hillsborough County, Florida, and that portion of the SE 1/4 of the SE 1/4 of Section 18-27-17, Hillsborough County, Florida, lying West of Patterson Road and The platted 15.00 feet rights-of-way as shown on the plat of KEYSTONE PARK COLONY SUBDIVISION, as recorded in Plat Book 5, page 55, of the Public Records of Hillsborough County, Florida, abutting said described parcels: LESS THE FOLLOWING DESCRIBED PARCEL: The South 300.00 feet of Tract 13 in the SE 1/4, less the West 229.30 feet thereof and that portion of the South 300.00 feet of Tract 14 in the SE 1/4 lying West of Patterson Road, all being in Section 18-27-17, KEYSTONE PARK COLONY SUBDIVISION, according to map or plat thereof as recorded in Plat Book 5, page 55, of the Public Records of Hillsborough County, Florida; and That portion of the South 315.00 feet of the SE 1/4 of the SE 1/4 of Section 18-27-17, Hillsborough County, Florida lying West of Patterson Road. and Together with the 15.00 foot platted rights-of-way, as shown on the plat of KEYSTONE PARK COLONY SUBDIVISION, as recorded in Plat Book 5, page 55 of the Public Records of Hillsborough County, Florida, abutting said described parcels. This conveyance is at no additional cost to the Buyer and is to convey any interest, right or title of the Seller in the Property that has not been conveyed to the Buyer by another conveyance. Exact legal description subject to final property survey. Page 2 of 2 - I I ATTACHMENT "c" TRANSACTIONAL ENVIRONMENTAL RISK AUDIT STANDARDS All property described in Attachments "A" and "B" will have an Environmental Risk Audit performed. The purpose of the audit is to give reasonable assurance that the aforementioned property is not contaminated with any hazardous waste, no buried tanks exist on the property, and identify debris or trash that will need to be cleared from the property. The audit will include the following: 1. Title Search - The Real Estate Department should provide a list of past property owners to the consultant. The consultant should evaluate this list to determine if prior owners may have generated, stored or disposed of hazardous materials on site. 2. Records Review - Historical aerial photographs and any maps or blueprints of the site must be compiled and evaluated. In particular, any operation on the site which may have impacted groundwater and soils should be identified. 3. Requlatorv Aqencv File Search - The consultant must identify the environmental compliance history of the property. EPC and DER offices, or other appropriate agencies, should be contacted to determine if any notices of violation have been issued, contamination problems have been identified or if groundwater investigations are ongoing or pending. 4. site Inspections - Once the previous owners have been evaluated and the records review and Regulatory Agency File Search have been completed, a site inspection must be performed. A physical description of the topography of the site and the impacts of stormwater drainage (if any) should be provided. All buildings, ponds, septic tank systems, wetlands, supply wells, monitor wells, underground and above ground storage tanks should be identified, inspected, and their approximate location indicated on an aerial photograph or map. Any illegal dumping should also be photodocumented with recommendations for removal (and testing, if required) with the location of dumping indicated on an aerial photograph or map. All indications of potential contamination including soil staining, vegetative stress, odor, etc. should also be identified by this site inspection, as well as potential off-site sources of contamination. 5. Report Four copies of the report to the County summarizing the findings of the audit, complete with the following items should be submitted for evaluation at least thirty (30) days prior to closing: C-l I I a. Base Map of the site with locations of all wells, storage tanks, ponds, wetlands, illegal dumping properly identified. buildings, areas, etc. b. Summary of file search and records review. c. Evaluation of risk posed by acquisition of subject property. d. Recommendations for subsequent evaluation (if required) and/or response actions. e. All backup information including aerial photographs, site inspection photodocumentation, etc. Once the audit has been received by the County, the Environmental Services Section of the Department of Solid Waste or other agency of the County or State may review the audit and provide technical comments to the Real Estate Department. Each audit must be designed to meet the objectives required by the County: to evaluate the environmental liabilities posed by acquisition of the subject property. Depending upon the size of the parcel, its location and proposed future use, a limited (or expanded) version of the audit maybe required. C-2 I I ATTACHMENT "D" CONCEPTUAL RESTORATION PLAN Clearwater Site ELAPP Nomination (HiIIsborough County STR 18,19-27-17) BACKGROUND This property has been used by the City of ClealWater for the disposal of sludge from wastewater treatment. Most of the site has been altered from its natural state, which research indicates to have been primarily a sandhill community. The Buyer (Hillsborough County) intends to restore the site to a more natural and environmentally beneficial condition which will buffer and enhance the adjoining Brooker Creek Preserve (Pinellas County). This restoration will include filling ditches and performing minor topographical alterations, eradicating non-native and invasive species, and reintroducing native species. RESTORATION ACTMTIES Different portions of the property will require different restoration techniques. Proposed management activities are outlined below. This should be considered only a conceptual plan; A more detailed plan will be developed in accordance with the contract. Pastureland will be gradually reverted to a sandhill community. The most costly and intensive task will be site preparation. Managers at Archbold Biological Station and Tall Timbers Research Station will be consulted for detailed advice. Current plans (contingent upon results of research described below) are to use a combination of discing and pre- emergent herbicide, followed by planting of longleaf pine seedlings (available through the Department of Forestry and native plant nurseries) and wiregrass plugs (contract grown at native plant nurseries). The adjoining Preserve is expected to provide seed sources to enhance diversity within the planted longleaf pine/wiregrass areas. Reversion of pastureland is an art still in its in infancy. During the first year, before full- scale implementation, several techniques will be tried on one-acre plots to determine the most effective and efficient site preparation techniques. A limited research program on the McKay Bay Park restoration showed the value of such efforts.1 Techniques to be tested may include (but not be limited to): 1 McKay Bay Park Urban Reforestation Project, 1994 report by Tampa Parks Department (Steve Graham). - pre-emergent herbicides, planting, and spot application of post-emergent herbicides; I I - planting and high-mowing (that is, mowing with the blade set higher than the longleaf pines' terminal buds, to prevent overtopping by shading weeds); - planting with no other treatment; - discing and planting; - discing, pre-emergent herbicides, and planting; - scraping and planting (with scraped material to be used for filling in rim ditches); - scraping or discing, sowing with Bermuda grass, and planting. This opportunity to advance knowledge in the field is expected to attract academics, herbicide manufacturers, and government and private land management entities, some of whom might be expected to share costs. Wetland will be best helped by restoring a more natural hydrological regime. Return to ideal conditions is unlikely due to pumping from nearby wellfields, but improvement can be made by filling in rim ditches which are currently intercepting what little water makes it to the site. There does not appear to be a clear berm of dredged material, but the upland side could be scraped to provide fill. There is a very narrow fringe of young trees on the upland side of the rim ditches; larger trees would be avoided, and nearby seed sources of maple and oak will quickly revegetate the scraped area with no need for planting. It is expected that the natural ecotone will establish itself, grading from forested wetland through mesic hammock to the restored longleaf pine/wiregrass system. Because the greatest concentration of gopher tortoise burrows is on the edge facing the Preserve and the northern rim ditch, this area should not be scraped. Soil from scraping should be moved into ditches in this area from other perimeters of the pasture. Other. It would be cost-prohibitive to return the entry road to the surrounding grade, but culverts could be installed to provide hydrological connection and allow for some seed exchange and movement of small wildlife. Alternatively, or additionally, portions of the road could be returned to grade. Restoration of uplands will be started near the existing Preserve and proceed eastward, with the area near Patterson Road to be restored last. This will make use of seeds from the existing habitat, minimizing costs and providing a gradual and stable transition. Associated wildlife is expected to follow the expansion of habitat. ANTICIPATED RESTORATION SCHEDULE The following is an approximate schedule for restoration activities. While it is anticipated that each activity will take approximately one year (starting with the date of closing), any delays or complications will impact subsequent activities. Uncertainties of weather, plant failure, limited commercial supplies, and other uncontrollable factors will require a degree of flexibility in the schedule. 2 , , . I I Year one to two: Research, consultation, installation of test plots, fencing and signs. Wildlife observation/sampling. Refinement of management plan. Year two to four: Preparation and planting of pasturelands. Scraping of appropriate areas and filling of rim ditches with resulting soil. Year three to six: Evaluation, additional planting, spot mechanical removal of nuisance species and post-emergent herbiciding. Year four to eight: Evaluation, wildlife observation/sampling in pasture lands and wetlands. Additional filling of rim ditches and culvert installation/regrading of entry road. Year five to nine: Replanting of any failed areas, continued filling (if necessary) of rim ditches. Year six to ten: Wildlife observation/sampling in pasturelands and wetlands. Plant survival and habitat reestablishment. Replanting of any failed areas. FUNDING AND EXPENDITURES The Seller is providing Two Hundred Thousand Dollars ($200,000) as the funding source for restoration activities. Interest earned on this restoration funding is to be returned along with any unused portion of the restoration funding. Restoration funding can be used for any activity directly associated with the restoration of the property. Such activities can include, but are not limited to: . labor and equipment costs associated with the eradication of non-native or undesired plant species, relocation of plants from existing communities, and planting or replacement of relocated vegetation on the property . cost of plants or seeds purchased from a third party and the labor associated with planting and replacement of any failed plantings . personnel costs, including travel time and mileage, to prepare, supervise, initiate, perform or implement activities associated with restoration . purchase, operation, and maintenance cost of equipment used exclusively on the property or reasonable hourly charges associated with equipment used occasionally on the property . personnel costs associated with the monitoring and maintenance of restored habitats. The following costs not associated with restoration will be paid by Hillsborough County: . fencing and other security efforts . equipment and personnel costs directly associated with the management of existing natural systems and wildlife monitoring . signage or recreational improvements. 3 . . . . !' I I Due to the extent and nature of the restoration effort, an expenditure is to be considered unacceptable if the primary purpose is not associated with restoration (example: field inspection of fencing will not be considered a restoration cost even if it may include monitoring of plant survival; however, closing a gate or replacing a fallen sign while supervising a subcontractor or volunteers would not disqualify the associated personnel costs from being considered a restoration cost). It will be the responsibility of the Buyer to provide reasonable evidence or documentation, including time sheets if necessary, indicating that the activity was associated with the restoration effort. 4