FRANK E CARROLL
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REAL ESTATE CONTRACT
THIS AGREEMENT, made and entered into this 1 st day of
MARC H
, 19 61 , between CITY OF CLEARWATER,
FLORIDA, a municipal corpora tion, hereinafter called "Seller", and
~"DM.MI
X'A4lMliti<~ )()IiUl
now doing business at 126 JlllIorth Missouri Ave., C lea
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hereinafter called "Purchaser":
WIT N E SSE T H:
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That in consideration of the mutual promises and cove-
nants herein contained, and other valuable considerations passing
between the parties hereto, the Seller agrees to sell and the
Purchaser agrees to buy the following described property situate,
lying and being in Pinellas County, Florida:
~ The East HQlf of Lot'19 of
CLEARWATER INDUSTRIAL PARK, accordi ng
to the map or, pla.t there of as recorded
in Plat Book 44, Page 46, Public Records
of Pinellas County, Florida, containing
1 .87 acre s ,
upon the following terms and conditions:
(1) The total purchase price of said property shall be
the sum of $ 5,906.50
, payable at the times and in the
manne r following:
(A) j 1,968.83 to be paid on the signing of
this contract as earnest money deposit,
receipt of which is hereby acknowledged
by Seller.
( B) Balance of $3,937.67 due prior to start ofconstructlon
on said property or within two years of date of this
cOntract, whichever Is first.
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The property shall be conveyed by Warranty Deed and
(2)
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
restrictions and protective covenants of the Clearwater Industrial
Park dated June 10, 1957, and recorded in Official Record Book 115,
at Page 347, Pinellas County records, as amended September 9, 1957
(O. R. Book 169 - Page 542) and further amended August 19, 1959
(0. R. Book 680 - Page 63).
(4) It is understood that this property is to be improved
~nd 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
subdivision by Seller in accordance with requirements 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 responsibili ty of Seller in connection therewith
shall continue unti 1 the same have been completed.
(5) Seller shall pay all taxes through the year 19 60
Taxes and assessments, 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 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 date of closing.
day of , 19
(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 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
property is merchantable and free and clear of liens and encumbrances
except as herein otherwise provided, this transaction shall be the~e-
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upon completed as herein provided.
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In the event Commitment shall in-
dicate otherwise, 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 (lO) days after notice of
such curing to the Purchaser 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 terminate. 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 may be retained by or delivered
to the Seller as liquidated damages 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
covenants and agreements herein contained shall extend to and be
obligatory upon the heirs, personal representatives and assigns of
the respecti ve parties. The words "Seller" and "Purchaser" herein
employed shall be construed to include the plural as well as the
singular.
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.
CITY OF CLEARWATER, FLORIDA
A municipal corporation
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anager
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ATTEST:
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Signed,' s"ealed:s:nd delivered
in the presence of:
I. RAL~7v1t
Seller
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COUNTERSIGNED:
Approved as to form and correctness:
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01 Y Attorney .
" SELIE R II
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FRANK E. CARROLL
II PUR CHA SER II
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