ALEX B PENNIE (2)
e
e
REAL ESTATE CONTRl,CT
THIS AGREEMENT, made and entered into this
.:2 ~
/ d day of
.
July
, 19i...2L, between CITY OF CLEAR1N"ATER,
FLORIDI" a municipal corporation, hereinafter called IISellerll, and
ALEX B. PENNIE, or his nominee,
hereinafter called IIpurchaserll;
WIT N E SSE T H:
----------
That in consideration of the mutual promises end 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:
East 215 feet of Lot 20
xXR of
CLEfffiWATER INDUSTRI;~ P;ffiK, accord-
ing to the map or plat thereof as'
recorded in Plat Book 44, Page 46,
Public Records of Pinellas County,
Florida, Containing 1.875 acres,
upon the following terms and conditions:
(1) The total purchase price of said property shall be the
sum of $5,906.25
, payable at the times and in the man-
ner following:
(h) 0 300.00 to be paid on the signing'of
this contract as earnest money deposit, re-
ceipt of which is hereby acknowledged by
Seller.
(B) Balance upon receipt of Deed.
j:J-OOJ.--=-ol C,:
e
.
(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
restrictions and protective covenants of the Clearwater Industrial
Park dated June 10, 1957, and recorded in Official de~ord Book 115,
as supplemented bv: Am~nd]Jlen~ dated Sept. 9,.1957, recorded OR Bk. 169, pg. 542,
at -~agev347~-Finel1as County records.
(4) It is under stood 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
31 bdi vi sion 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 responsibility of Seller in connection therewith
shall continue until the same have been completed.
(5) Seller shall pay all taxes through the year 19___"
Taxes and assessments, if any, for the current year sm 11 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 ~
or bxfore thirty days from the date hereof.
~x. ~~
(7) Seller agrees, at its expense, 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 Owneris 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-
-2-
. e
upon completed as herein provided. In the event Commitment shall
indicate 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 (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,
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,
($) 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 especti ve partie s. The words "Seller" and "Purcha ser1l herein em;
ployed shall be construed to include the plural as well as the sin-
gular.
IN VfITNESS )1HEREOF, t:1e 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~, FLORIDA
A municipal corporation
_ () (}f)- ()_____
anag~-
{I
.. l,l
e
ATTEST:
~~
C. < Clerk" .
Signed, sealed and delivered
in the presence of:
~",,=<.vV ::( '1fii17;'1c2"
;;t;~. ~oLL
As to Seller
~ n). fif.Ji~~..
~&~
As to Purchaser
, '.
-4--
e
Approved as: io i~In -and cor.rectnes
t.fi.. //./.'~:.~--.. -.....".".....~..~... .-'........~...~:-=
'-~~. ... '. /-'-.'
C'ity Att~rney'. /" // .~
fiSELLEHOi
d'4b~
i'PUIWHASErl "