RAY D GERBER
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REAL ESTATE CONTRACT
THIS AGREEMENT, made and entered into this /?~ay of
May
, 19~, between CITY OF CLEArlWATErt,
FLORIDA, a municipal corporation, hereinafter called "Seller", and
RAY D. GERBER
hereinafter called "Purchaser";
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:
West 300 feet of
Lot Six (6) of
CLEARWATErt INDUSTRIAL PAJ.lK, accord-
ing to the map or plat thereof as
recorded in Plat Book 44, Page 46,
Public Records of Pinellas County,
Florida, containing acres,
upon the following terms and conditions:
(I) The total purchase price of said property shall be the
sum of $6500.00
ner following:
, payable at the times and in the man-
(A)
$ 325.00 to be paid on the signing of
this contract as earnest money deposit 9 re.-
ceipt of which' isnereby acknowledged oy -
Seller.
(B)
$2,175.00 on closing and balance in two equal installments
of $2,000 each plus 6% interest on the unpaid balance payable
one year after closing and the second, two years after closing.
(C)
(D)
It is hereby agreed that the City will, within 90 days, pave
the street on the North side of the property abutting that which
is to be acquired by this contract according to the usual
specifications and quality.
Purchaser does hereby release the City of Clearwater from any
further obligation as evidenced by that certain Contract dated
April 8, 1967, between Ray D. Gerber and the City of Clearwater
and the parties hereto further covenant and agree that this is a full
release from the City to Ray D. Gerber and Irom Ray D. Gerber to
the City and that there will be no further claim on the said contract,
one against the other.
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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
restrictions and protective covenants of the Clearwater Industrial
Park dated June 10, 1957, and recorded in Official ne~ord Book 115,
at Page 347, Pinellas 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 completed and drainage will be installed in said
Sl bdi vision 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
t hat 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 shall be pro-
rated as of tr..e 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,
or before
subject to the provisions of this agreement, shall be on ~
ninety (90) days from the date hereof.
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(7) Seller agrees,~at-its expense, to f'urnish~aCommitment ~
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'isTitle 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 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}
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 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 dam-
ages 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 coven-
ants and agreements 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:.,.
(10) The Seller hereby agrees to pay HOMER REALTY, Realtor,
as commission for finding a ready, able and willing Buyer for the said property
the sum of Three Hundred Twenty-five Dollars ($325.00).
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
)EL'hQ~.~
ty Manager
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ATTEST:
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C~lerk .
Signed, sealed and delivered
in the pres~ce of:
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[A;;rJ!" . ~ J ~ IF: -f:; ~ I
As to~-Scller v ~~r'-'
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/ As to Purchaser
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Approved as to fo~m-and correctness:
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City Attorney
I1SELLEB."
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