CAMPBELL PAVING COMPANY
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OPT ION
THIS AGREEMENT, made this
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1981, by and between Campbell Paving
day of ~,A.D.
Company, hereinafte~ referred
to as "Seller", and the CITY OF CLEARWATER, FLORIDA, a municipal
- corporation, hereinafter referred to as "Purchaser";
WIT N E SSE T H
WHEREAS, Seller is the owner of certain real estate
situated in Pinellas County, Florida, described as follows:
S 495 ft. of SW 1/4 of SE 1/4 of Section -1-29-15 and
that portion of the NW 1/4 of the NE 1/4 of Section
12-29-15 lying North of Seaboard Coast Line Railroad
Right-of-Way less North 150 ft. of East 200 ft. of
W 250 ft. of S 495 ft. of SW 1/4 of SE 1/4 of Section
1-29-15, less East 974 ft. of North 300 ft. of South
495 ft. of SW 1/4 of SE 1/4 of Section 1-29-15, less
West 419.46 ft. of East 974 ft. of North 155 ft. of
South 195 ft. of SW 1/4 of SE 1/4 of Section 1-29-15
less and except that portion lying easterly of a line
8.00 ft. Easterly and parallel to the centerline of
existing railroad spur track, less the West 50 ft.
and East 33 ft. of the SW 1/4 'of SE 1/4 of Section
1-29-15 for Right-of-Way, less the West 50 ft. and
East 33 ft. of the NW 1/4 of NE 1/4 of Section 12-29-15
for right-of-way.
WHEREAS, the Purchaser desires an option to purchase said
real estate:
NOW, THEREFORE, Seller, for and in consideration of the
sum of F~ve Hundred Dollars ($500.00) duly paid by the Purchaser,
receipt of which is hereby acknowledged by Seller, does hereby
grant to the Purchaser, its successors and assigns, at the
Purchaser's option, for anq during the period of one hundred
eighty (180) days from~date hereof, the right and privilege to
purchase the above des~rTbed parcel of real estate for the price
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of One Million, Six Hundr~d Forty-eight Thousand Dollars
($1,648,000.00) good and lawful money of the U.S.A. plus the
following described property
Lot 10, less the West 430 feet of Clearwater Industrial
Park as recorded in Plat Book 44, Page 4~, of the Public
Records of Pinellas County, Florida, which is valued at
One Hundred and Two Thousand Dollars ($102,000.00) or a
total of One Million, Seven Hundred Fifty Thousa~d Dollars
($1,750,000.00)
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The exercise of this option by the Purchaser to purchase the
aforementioned property shall be by written notice to the Seller,
said notice shall be sent to said Seller at 1707 North Hercules
Avenue, P.O. Box 5005, Clearwater, Florida 33518, on or before
the expiration date of this option agreement.
In case said
notice is given by mailing, the time of deposit of the same in a
prepaid sealed envelope in a depository for the receipt of the
United States mail shall not only constitute sufficient notice to
the Seller of such action, but the time of such notice of
acceptance shall be, in such case, the time of delivery of the
same in a United States Post Office.
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In the event the Purchaser exercises this option, the Seller,
shall, within ten (10) days of such notice, furnish to the Purchaser
a duly certified abstract of title or a title insurance commitment,
showing good and clear merchantable title of record to said property
in the Seller, free and clear of liens, encumbrances, rights, title
or interests in others.* In the event said commitment or abstract
shows defects, liens, encumbrances, rights, title or interests not
hereinbefore noted~ the Seller shall use diligent effort to perfect
the title, and the Seller shall have a reasonable time therefor, not
to exceed thirty (30) days.
Within thirty (30) days after delivery of such title insur-
ance commitment or abstract of title to the Purchaser, the closing
shall be consummated. Conveyance shall be made by Seller by a
good and sufficient Warranty Deed. Seller shall affix the proper
documentary stamps on the Deed and Purchaser shall record the same.
Real estate taxes for the year 1981 shall be pro-rated at the
time of closing. Provided, however, should a defect in the title
be found, then closing shall take place ten (10) days after the
defect has been corrected. The closing shall take place in the
* Purchaser is aware of the lease covering the East
ten acres.
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office of the City Attorney, City Hall, 112 South Osceola Avenue,
Clearwater, Florida. If Seller does not perfect title or other-
wise files to perform their obligation thereunder, they shall
promptly refund to Purchaser the $500.00 paid for this option.
It is agreed and understood that if the said Purchaser,
shall fail to exercise this option within the time above men-
tioned, said Purchaser shall forfeit the sum of $500.00 paid to
Seller for this option as hereinbefore acknowledged, and all
obligations of both parties shall be fully discharged.
This contract shall be binding upon the successors and
assigns of the Seller, but shall not be assignable by the
Purchaser.
The Seller and the Purchaser may subsequently agree upon
terms that are mutually satisfactory to each of the parties
hereto that part of the purchase pric~ of the above property may
be paid on an installment basis and a mortgage executed for the
unpaid balance upon such terms and conditions as may be mutually
agreed upon by the parties.
IN WITNESS WHEREOF, the parties hereto have hereunto set
theirs hands and seal to be affixed hereto on the date first
above written.
WITNESSES:
CAMPBELL PAVING COMPANY
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ATTEST:
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Frank B. Crews,
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Secretary
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William M. C, pbell
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By
City Clerk