MARSHALL AND REVA KENT (2)
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AGREEMENT
THIS AGREEMENT made and entered into this
9th
da y of
October
, A. D. 1974, by and between CITY OF CLEARWATER, FLORIDA,
a municipal corporation, hereinafter referred to as "City", and MARSHALL
KENT and REV A KENT, his wife, hereinafter referred to as "Kent";
WITNESSETH:
WHEREAS, the City desires to sell a portion of Lot 10 of Clearwater
Industrial Park to Kent; and
WHEREAS, Kent desires to purchase said portion of Lot 10 of Clearwater
Industrial Park but wishes to exchange a portion of Lot 6 of said Clearwater
Industrial Park, together with a cash payment; and
WHEREAS, the City and Kent desire to enter into an agreement for
such an exchange of real property and cash payment in addition thereto;
NOW, THEREFORE, in consideration of the mutual promises and
covenants herein contained, and other valuable considerations passing between
the parties hereto, the parties hereto mutually agree as follows:
1. The City agrees to sell and Kent agrees to buy the following
described property situate, lying and being in Pinellas County, Florida:
The West 430 feet of Lot 10 of Clearwater Industrial Park,
according to the map or plat thereof as recorded in Plat Book
44, page 46 of the Public Records of Pinellas County, Florida,
containing 3.19 acres, I
which total purchase price shall be the sum of $59, 015. 00, and the City shall
furnish a survey and guarantee water and sewer hookup for 30,000 square
feet of buildings.
2. Kent agrees to execute and deliver to the City a Warranty Deed
as a partial consideration for said real property covering the following described
property situate, lying and being in Pinellas County, Florida:
West 315.46 feet of Lot 6, Clearwater Industrial Park,
according to the map or plat thereof as recorded in Plat Book
44, page 46 of the Public Records of Pinellas County, Florida,
containing 2.38 acres,
which total value shall be the sum of $44,030.00.
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3. The cash balance due in the sum of $14,985.00 shall be payable
at the times and in the manner following:
A. $5,000. 00 to be paid by Kent on the signing of this
Agreement as earnest money deposit, receipt of which is
hereby acknowledged by City.
B. Balance in the amount of $9,985.00 shall be paid in cash
at time of closing.
4. Both parcels of real property shall be conveyed by Warranty Deed
and shall be free and clear of all encumbrances whatsoever, except as otherwise
provided he rein.
5. 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, page 347, Pinellas County Records,
and as supplemented by amendment dated September 9, 1957, recorded in O. R.
Book 169, page 542; by amendment dated August 19, 1959, recorded in O. R.
Book 680, page 63; and by amendment dated September 23, 1968, recorded in
O. R. Book 2914, page 516, of said Pinellas County Records, and any easements
as shown on the Plat of Clearwater Industrial Park.
6. Each party shall pay all taxes on its respective parcel through the
year 1973. Taxes and assessments, if any, for the current year shall be pro-
rated as of the day of closing for each parcel. Each party agrees to place the
necessary Documentary Stamps on the Deed of conveyance which he is delivering
to the other party and each party shall record the Deed so delivered.
7. Pos ses sion will be given on each parcel on the date of closing which,
subject to the provisions of this agreement, shall be on or before sixty (60) days
from the date of this agreement.
8. Each party agrees, at their expense, or credit for said insurance, to
furnish a Commitment for Title Insurance from a reputable title company authorized
to do business in Florida, within fifteen (15) days after execution of this agreement,
and thereafter to pay for an Owner's Title Policy in the face amount of the purchase
price as set out in Paragraphs 1 and 2 above for the respective parcel owned by
each party. In the event said Commitment for Title Insurance indicates that
the title to both of said parcels of property are merchantable and free and clear
of liens and encumbrances except as herein otherwise provided, this transaction
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shall be thereafter completed as herein provided. In the event either Commitment
shall indicate otherwise, such party 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 other party. Upon
the City's failure to correct any defects within the time limit, the earnest money
deposit shall be returned to Kent upon demand and all rights and liabilities
arising hereunder shall terminate. In the event City shall perform all of its
obligations under this agreement and Kent shall fail or refuse to pay the balance
of the purchase price as above set forth or correct any defects within the time
limit, the said cash payment made on this date may be retained by the City
as liquidated damages by reason of the failure of Kent to complete this agreement.
9. Both parties covenant and represent to one another that this is a
direct transaction between the parties and that neither has incurred any obligation
or responsibility for the payment of any real estate sales commission concerning
said transaction.
10. 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 respective parties.
IN WITNESS WHEREOF, the parties hereto have caused these presents
to be executed the day and year first above written.
By
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City Att~
NOV 7 1974
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Mar shall Kent
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As to Kent'
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Reva Kent
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