TEPRO OF FLORIDA INC
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rlEAL ESTATE CONTrlACT
THIS A GrlEEMENT, made and entered into this
18thday of
May
, l~~, between CITY OF CLEArlWATErt,
FLORIDA~_ a ~uI1icipal, "co~pg.rG\~ib~, hereinafter called "Seller", and
TEPI}O OF FLORIDA, INC.
hereinafter called "Pur chaser";
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 Seller agrees to sell and the Pur-
chaser agrees to buy the following described property situate,
lying and being in Pinellas County, Florida:
Lot One (1) of
CLEARWATErl INDUSTRIAL PAnK, accord-
ing to the map or plat thereof as
recorded in Plat Book 44, Page 46,
Public rlecords of Pinellas County,
Florida, containing 5.03 acres,
upon the following terms and conditions:
(1) The total purchase price of said property shall be the
sum of $15,844.50
ner following:
, payable at the times and in the man-
(A) $500.00 to be paid on the signing of
this contract as earnest money deposit, re-
ceipt of which is hereby acknowledged by
Seller.
(B) $15,344.50 the balance due on purchase to be paid
on or berore November 18th,1960.
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(2) The property shall be conveyed by Warranty Deed and
shall be free and clear of all encumbrances whatsoever, except as
otherwise provided herein.
(3) It is understood that this property is subject to the
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) Seller shall pay all taxes through the year 1959 ,
Taxes and assessments, if any, for the current year smll 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 will be given on the date of closing which,
subject to the provisions of this agreement, shall be on the 18th
day of
November
, 1960
(7) Seller agrees, at its expense7 to furnish a Commitment
for Title Insurance from a reputable title company authorizwd to do
business in Florida, within five (5) days after execution of this con-
tract and, thereafter, to pay for an Owner?s Title Policy 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 3hall
indicate otherw;ise, the Seller 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 atto'~ney~ Upon
Seller's failure to correct said defects within the time limit,
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t he 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 shall 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
shalf. be retained by or delivered to the Seller as liquidated dam-
ages by reason of the Purchaser's failure to complete this agreemento
(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
r e specti ve partie s. The words "Seller" and lIPurcha sern l1e:'ein em:,
ployed shall be construed to include the plural as we:l as the sin-
gular.
(10) It is understood and agreed that a f'ive (5%) percent
Commission on the sale of' this property will be paid to Homer Realty,
by the SELLSR at time of' Closing.
IN WITNESS WHEREOF, tbe parties have hereunto set their
hands and seals in person and by and through their personal repre-
sentatives the day and year hereinabove mentionedn
CITY OF CLEARWATEh. FLORIDA
A municipa: corporation
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Acting
ATTEST:
R. d,G.~ V1h~tehead, City Clerk
Rl.;e'~~t: ~-~
Ci Y Clerk
Signed, sealed and delivered
in the presence of:
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COUNTErlSIGNED:
Approved as to form and correctness~
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i1 SELL Eli. n
TEP~O }OF:ELORIDA, INC.
By~L--:-a . dK6t
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"PU,WHASErt II
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1I.B. Buka, Jr.
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