TRANS- STATE INDUSTRIES
\ .
I
I
.dEAL ESTATE cor-J1\UlCT
/
THIS AGa.EEMENT, made and entered into this ~ay of
FLORIDA,
, 197L, betvrcen CITY OF CLEAi1.1ilATKt,
corporation, hereinafter calledliSellerl1, and
TRANS...STATE INDUSTRIES, INC., a Florida corporation,
hereinafter called IIPurchaser"~
WIT NE 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 PinelIas County, Florida~
Lot 16 of
CLEARWATER INDUSTdIAL PARK, accord-
ing to the map or- plat thereof as
recorded in Plat Book 44, Page 46,
Public Records of Pinellas County,
Florida, containing 7.15 acres,
upon the following terms and conditions:
I'.
(1) The total purchase price of said property shall be the
sum of ____$70,070.00
ner following:
, payable at the times and in the man-
(A) $ 3, 50!2.. 00 , to be paid on the, signing of
this contract as earnest money deposit, re-
ceipt of which is hereby acknovrledged by
Seller.
(B) Balance to be paid at time of closing.
(C)., It being understood that the high ground in the amount of
5. 72 acres is priced at $11, 000 per acre and the low area
in the amount of 1. 43 acres is priced at $5,000 per acre.
, 1~-005-0~LYi
.
(2.) The propelty shall be conveyed by warranly Deed and dLi!..ll be free
and clear of all enculnbrances 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 COlmty Records,
and as supp1ernented by alnendment dated Septcrnber 9, 1957, recOl'ded in O. R.
Book 169, page 542.; by arnendment dated August 19, 1959, recorded in O. R.
Book 680, page 63; and by amendment dated September 2.3, 1968, recorded
in O. R. Book 2914, page 516, said 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 iInproved and completed and
drainage will be installed in said subdivision by Seller in accordance with require-
ments of the Board of Cm.mty Comrnissioners of Pinellas County, Florida,
regulating development of subdivisions. It is fnrther under stood that in the event
that this transaction shall be closed prior to the completion of said improvem.ents
that the responsibility of Seller in connection therewith shall continue until the
same have been completed.
(5) Seller shall pay all taxes throughi:he year 1971
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 recei~ed as part
of the consideration. Purchaser agrees to place Docum.entary Stamps on any
prolllis sory note executed.
(6) Possession will be given on the date of closing which, subject to
the provisions of this agreement, shall be on or before 90
days from the 'date of this agreement.
(7) Seller agrees, at its expense, to furnish a Commitnlent for
Title Insurance from a reputable title company authorized to do busines s in
Florida, within five (5) days after execution of this contract and, thereafter,
to pay for an Owner' s Title Policy in the face an~ount of the purchase price if the
sarrle is issued. In the event said Commitnlent for Title Insurance indicates that
the title to said property is merchantable and free and clear of liens and
enculnhrances except as herein otherwise provided, this transaction shall be t.hcl'e-
-2-
......-...,
I
I
upon completed a s herein provided. In the event Commitment [~hall
indicate otherwise, the Seller shall hav~ a pe~iod of sixty (60)
days after notification thereof within vrl1ich to cure defects jn
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 payment s, or to pay the balance of the purcha Sf,
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.
(a) 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 t,o and be obliga-
tory upon the heirs, personal' representatives and assigns of the
r e specti ve partie s. The words II Seller" and "Purcha f3erll herein .em;..
ployed shall be construed to include the plural as well as the sin-
gular.
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 montioned.
B
C'
----
-3-
'!>' "". ..~
..
, 1)
I
'.
Signed, sealed and delivered
in the presence of:
';;t: ~ '~dJl
*~/~t'~-O C. ~
As to Seller
-h-
, I
..
\'1 SELLEl~ Ii
.....,.- ~.;-. -Zi1.
.' :::. r4~'.
.' - . ~:
:. .. ~ .~ - - ~ .~-
.... --:
-:: / . ~. ..~~-. ...... ... -... ,~.
...~, - -
. . - "
'~,. ...
. . -
. . .
-y . -:..-~ - - - ::- ..
(Carpor ate Seal)
npU.1CHASEIP