FIRST FEDERAL
":"-',tIIt -,-"loJ
~
I
I
EXTENSION AGREEMENT
~u6 ~~
MADE AND ENTERED INTO this :/D day of , 1995, by and
between FIRST FEDERAL/OSCEOLA, a federally char r savings and loan
association (herein, "Seller"), and the CITY OF CLEARWATER, FLORIDA., a
Florida Municipal Corporation (herein, "Purchaser"), regarding that certain
Contract For Sale & Purchase dated September 19, 1994 regarding real property
as legally described in Exhibit "A" attached hereto and incorporated herein
by reference,
WIT N ESE T H:
WHEREAS, Seller is unable, upon day of execution of this agreement,
to deliver marketable title to Purchaser as provided in Standard A. EVIDENCE
OF TITLE (2) of the aforesaid Contract For Sale and Purchase, and;
WHEREAS, Seller is diligently pursuing legal efforts to correct and
eliminate title defects in order to perfect title Seller will deliver to
Purchaser, and;
WHEREAS, Purchaser is willing to allow Seller additional time to
perfect title to the property as provided in Standard A. EVIDENCE OF TITLE
(2) ;
NOW, THEREFORE, it is mutually agreed as follows:
1. Time of closing this transaction shall be extended up to 120
additional days beyond the time allowed in Standard A. EVIDENCE OF TITLE: (2)
contained in the Contract For Sale and Purchase.
2. If for any reason Seller cannot deliver marketable title within
the time allowed herein, Purchaser, at Purchaser's option, may elect to
notify Seller in writing not less than 10 days prior to termination of this
extension whether Purchaser wishes to terminate the agreement or further
extend time for closing an additional period of time not to exceed 90 days.
Notice to Seller shall be delivered in writing from the City Manager, or the
City Manager's designee, and its terms shall bind the parties hereto.
3. All other terms and conditions of the Contract For Sale and
Purchase remain unchanged and in full force and effect.
IN WITNESS WHEREOF, the parties have caused this agreement to be
executed on the day and year first above written.
CITY OF CLEARWATER, FLORIDA
oJ'
FIRST FEDERAL/OSCEOLA
Jame~;!s~~-dJ
By: ~M~
Eliza h M. Deptula
City anager
By:
ommissioner
~ Glu~
Phyl 's Elam, Secretary
ATTEST= ;
r _~~1:. .,' ~:
~{O"d~a~"~; cThrk
and
Attorney
, ~) - 0 jCj -{)5 ( 2.:S_)
~: ~
I I
EXHIBIT "A"
IDENTIFICATION OF 'I'HE 'f'rWPER','Y nnd LEGl\L DES,Cn.XPTI"ON
'rhe property under. con~ider.ation is n vacant parcol of upland
along with adjoining DubnH.'1rged lan<.l.~, 10catod on the I.-I(~gt Gloe of
Pierce Boulevard, betwoon Plerce ond Cour.t Streeto, Clo8rwnter,
Florida, and is logally described as follows:
A parcel of upland and contiguous submorged land in Section 16,
Township 29 South, nnngo 15 Eost, p~ne11BS County, Florida, being
more particulnrly described as LollOWG:
From tho north<;Elst corner of Section 16, Township 29 South,
Range 15 E~st, run south along the cast line of said Section
16, n distance of 1,516.16 feet; thence South 09'45'00"
Went, along the south line of Pierce street, a distance of
2,209 feet, more or loss, to a point on the wosterly right-
of-way line of Pierce Doulovnrd, soid point being the Point
of Boginning; thence conU.ouc South 09' 45 I 00" West, along
'l:he south bourldllry line of pJerce 100 Condominium, {) dis-
tance of 700 feC3t, more 017 less; thenCl?J, run South 09'02'16"
\'1os1:, a distance of 207.0 feet, l1Iore or 10S9; thence run
North 09' 30' 00" Enst, n dj.stanco of 190.1.12 feet, morc or
less; thence run South 23'19'00" West, 8 distance of 2U5
f00t, mora or leas; thencA run seat a distance of 810 foet,
morc or less along the north right-ot-way of Haven Streot
extended, to a point on the wcstorly right-of-way line of
Pierce Boulevard; thence run along cold westerly right-of-
woy line of Pierce 13ouIAvorc1, in n norlh-nox:thwesterly
direction, having 0 clloJ:cJ. bearing North 17' 23 I 03" West, a
distonco of 577.02 feet, to tho Point of 00gin010g.