WILLIAM B AND HELEN O COX
r.
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REAL ESTATE CONTRACT
THIS AGREEMENT, made and entered into this ~ day of
March
, 19 ~J between CITY OF CLEARWATER,
FLoaIDA, a municipal corporation, hereinafter called "Sellerti, and
WILLIAM B. COX and HELEN O. COX, his wife,
hereinafter called "Purchaser";
WIT N E SSE T H:
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:
East 1-1/2 acres of
Lot 11 of
CLEARWATER. INDUSTRIAL PARK, accord-
ing to the map or plat thereof as
recorded in Plat Book 44, Page 46,
Public Records of Pine11as County,
Florida, containing 1. 5 acres,
upon the following terms and conditions:
(1) The total purchase price of said property shall be the
sum of $4,725.00
, payable at the times and in the man-
ner following:
(A) $ 525.00 to be paid on the signing of
this contract as earnest money deposit, re-
ceipt of which is hereby acknowledged by
Seller.
(B) Balance of $4, 200. 00 to be paid in five equal payments on
June 4, 1968; September 4, 1968; December 4, 1968; March
4, 1969 and June 4, 1969, of $840.00 each.
(C) When all payments on the purchase price have been made, the
Seller agrees to give title insurance and a warranty deed reflecti
good and marketable title to the Purchaser. Any payments that
are over ten days late on account of this purchase shall bear
interest at the rate of six per cent (6%). Possession shall be
given when all payments have been made,. as of date of closing
which shall be on or before June 4, 1969.
(D) It is understood and agreed that Seller shall have the above
described lot surveyed and staked out.
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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 covenant s of the Clearw'ater Industrial
Park dated June 10, 1957, and recorded in Official Re~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 vi sion by Seller in accordance with requirement s of the Board of
County Commissioners of Pine1las 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 ther8'lt'fith
shall continue until the same have been completed.
prior to closing.
(5) Seller shall pay all taxes through the year ~___.
of closing
Taxes and assessments, if any, for the ~ yeaI'I 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.
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(7) Seller agrees, at its expense, to furnish a Commitment
for Title Insurance from a reputable title company authoriz~d to do
as set out i.p $u~~c:..~K::~1?E- (C) above,
business in Florida, ~~~1\.~~~
~ and, thereafter, to pay for an OwnerYs 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 Elhall
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 "SelleI'll and ilPurchaserll herein em:..
ployed shall be construed to include the plural as well as the sin-
gular.
IN ~vITNESS ~vHEREOF J 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.
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ATTEST:
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Signed, sealed and delivered
in the preSen?8 of:
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As -to Seller d
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As to Purchaser
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Approved as to form and correctness:
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City Attorney
\1 SELl Eli.7i
William B. Cox
r\
Helen O. Cox
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