OAK BLUFFS AND OAK COVE CONDOMINIUMS
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This instrument prepared by
and retum to:
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jt'obert C. Reid, Esq.
(Bryant, Miller and Olive, P.A.
J 201 South Monroe Street
Suite 500
Tallahassee, Florida 32301
(850)222-8611
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02-205254 MAY-31-2002 1:30~
PINELLAS CO 8K 12030 PG 1080
IIIII~ 1111111111111111111111I1111111111111111111
TERMiNA'flON ANn RELE:ASE OF REVERTER
+ THIS TERMINATION AND RELEASE OF REVERTER (the "Termination") is made this
;ZL ,day of ~ 2002, by the CITY OF CLEARWATER (the "City"), whose address is
112 South Osecol~venue, Clearwater, Florida 33756.
RECITALS
WHEREAS, a Final Judgment was entered in Case No. 89-1929-07, styledBEF, Inc., etc., et
aI., Plaintiffs vs. Jim Smith, etc., et al., on June 6th, 1991, and recorded in Official Records Book
7591, page 2010, Public Records of Pine lias County, Florida (the "Final Judgment"): and
WHEREAS, the Final Judgment provided that the property described therein, as Units 1.2
and 3, Oak Bluffs, a Condominium, according to the Declaration of Commercial Condominium. in
Official Records Book 6966, Page 1927 through 1966, Public Records of Pinellas County, Florida
and Units 1 and 2, Oak Cove, a Condominium, according to the Declaration of Condominium. in
Official Records Book 6966, Page 1889 through 1926, Public Records of Pinellas County. Iluriud
(the "Property"), was tax exempt from ad valorem taxation; and
WHEREAS, the Final Judgment further provided that the Property was acquired and held by
the Plaintiffs on behalf of the City of Clearwater in accordance with an agreement by which the
Property would revert to the City of Clearwater; and
WHEREAS, the Property is now more particularly described on Exhibit "A attached hereto
and incorporated herein by this reference; and
WHEREAS, the City desires to terminate the agreement disclosed int he Final Judgment; and
WHEREAS, the City desires to release its reversionary rights, which were granted in the
agreement, disclosed by the Final Judgment.
NOW, THEREFORE, in consideration of the sum of$IO,OO and other good and valuabk
consideration, it is agreed as follows:
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PINELLAS COUNTY FLA,
OFF.REC.8K 12030 PG 1081
1. The recitals set forth above are true and correct and are incorporated herein by this
reference.
2. The City as the potential future owner ofthe Property by reverter, hereby terminates
and releases any interest in the Property as provided in the agreement disclosed in the
Final Judgment, and acknowledges and agrees that the provisions of the Final
Judgment and the agreement referred to therein are of no further force and effect.
3. The City hereby specifically releases its right of reverter in and to the Property
granted to the City in the agreement disclosed in the Final Judgment.
4. The City acknowledges and agrees that the terms of the agreement referred to in the
Final Judgment are of no further force and effect.
5. This Termination is effective as ofthe date it is recorded in the Official Records of
Pinellas County, Florida.
IN \\'ITNESS WHEREOF, the parties hereto have executed this Termination as or [hi: Ja~
and year first written above.
THE CITY OF CLEARWATER, a
municipality of the State of Florida.
Attest:
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: William B. Home, II
Its: City Manager '
Approved as to form
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Pamela K. Akin, City Attorney
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