COMMUNITY REDEVELOPMENT AGENCY AND CITY CENTER DEVELOPMENT CORPORATION
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1.
OPTION TO PURCHASE REAL ESTATE
THIS AGREEMENT is entered into this 1st day of June, 1989, between
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, hereinafter referred
to as Optionor or Seller, as the case may be, and CITY CENTER DEVELOPMENT
CORPORATION, a corporation, with its principal office located in Pinellas County,
Florida, hereinafter referred to as Optionee or Buyer, as the case may be:
WITNESSETH:
A.
OPTION TO PURCHASE AND EXTENSIONS.
In consideration of Twenty-
Five Thousand and No/100 Dollars ($25,000.00), receipt of which is acknowledged,
Opt ionor does hereby offer to selland convey to Opt ionee the real estate
described herein on the terms and conditions hereinafter set forth. Said sum
of Twenty-Five Thousand and No/100 Dollars ($25,000.00) and any sum paid for an
extension of this Option shall be credited on the purchase price hereinafter
mentioned only if the Option is exercised and the attached Contract is closed,
This offer shall be continuing and irrevocable until five o'clock p.m. on
the 31st day of May, 1990, and the Optionee shall have the exclusive and
absolute power to accept this offer on or before said hour and day, but this
offer in its entirety and its expiration date may be extended one (1) time to
five o'clock p.m. on the 31st day of May, 1991, upon payment by said Optionee
of an additional Twenty-Five Thousand and No/100 Dollars ($25,000.00) to Optionor
on or before the original expiration date as herein stated; provided, if said
option shall not be extended as herein provided, it shall forthwith terminate
and the Optionee shall have no further rights hereunder.
EXERCISE OF OPTION.
If the Optionee shall elect to accept said
B.
offer and purchase said property, it shall signify and declare such election and
acceptance by written notice thereof to Optionor on or before expiration of the
option period provided for in paragraph A. Thereupon, and not otherwise, the
following contract for the sale, purchase, and conveyance of said property shall
be in full force and effect and the Optionor and Optionee shall perform the
terms and conditions thereof, provided, however, that Optionee shall have no
power to exercise this Option until twenty-five (25) condominium units are
presold and ten (10) percent of the purchase price of each condominium unit is
placed in escrow.
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C, OPTION NOT ASSIGNABLE. The option herein granted by Optionor to
Optionee is not assignable by Optionee and any effort to assign said Option
shall cause the same to become immediately null and void and cause the Optionee
to forfeit to the Optionor the consideration paid by Optionee for said option,
D.
NOTICES.
Paragraph 6.03 of the following Contract relating to
notices, is incorporated by reference in this option and is part hereof with
the same effect as if fully set forth herein.
CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE
THIS CONTRACT is entered into between Seller and Buyer as of the date the
above opt i on is exerc i sed by the Opt i onee in accordance wi th the terms and
conditions of said option:
WITNESSETH:
ARTICLE 1. AGREEMENT TO SELL AND BUY,
AND DESCRIPTION OF PROPERTY
1.01. The Seller agrees to sell and the Buyer agrees to buy, upon the terms
and conditions herein set out, the following described land, to-wit:
LOTS ONE (1) through TEN (10), inclusive, Block 5,
Magnolia Park Subdivision, according to the plat thereof
as recorded in Plat Book 3, Page 43 of the Public
Records of Pinellas County, Florida.
Subject to taxes, zoning and other requirements imposed
by governmental authority, restrictions and easements
of record, if any, and further subject to the
restrictions expressly set forth in this agreement as
restrictions intended to survive closing and to become
restrictions of record.
ARTICLE 2. PRICE AND METHOD OF PAYMENT.
2.01. The Purchase Pr i ce for sa i d property sha 11 be the sum of Four
Hundred Thousand Dollars ($400,000.00), payable by Buyer to Seller as follows:
Credit for Option Payments
(1) The sum paid by Optionee/Buyer of Twenty Five Thousand Dollars
($25,000.00) or Fifty Thousand Dollars ($50,000.00), as the case may be, shall
be deducted from the purchase price as a credit against the purchase price.
Balance
(2) The balance of the purchase price of Three Hundred Fifty Thousand
Dollars ($350,000.00), or Three Hundred Seventy Five Thousand Dollars
($375,000.00), as the case may be, hereinafter referred to as the Balance, shall
be satisfied by Buyer1s execution and delivery to Seller at closing of a
promissory note, herein called the "Note," substantially in the form and of the
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substance of that attached hereto as Exhibit IIA,II which is incorporated herein
by reference. The Note shall be secured by a First Mortgage on the property
herein described, executed and delivered by Buyer at closing in substantially
the form and of the substance of that attached hereto as Exhibit IIB,II which is
incorporated herein by reference.
The Note shall incorporate the following terms:
(a) The principal amount shall equal the balance payable as to
principal in thirty-five (35) installments of Ten Thousand Dollars ($10,000.00)
each, or Ten Thousand Seven Hundred Fourteen and Twenty-Nine One-Hundredths
Dollars ($10,714.29) each, as the case may be, the first such installment to be
due and payable at the time of the closing of the sale of the first condominium
unit and continuing with an installment due and payable upon the closing of the
sale of each condominium unit thereafter sold until thirty-five (35) condominium
units have been sold and the sales thereon closed.
(b) The note shall be non-interest bearing until its maturity and
maturity shall be the third anniversary of the closing of the Contract of Sale
at which time the balance of the unpaid note shall bear interest at the legal
rate of twelve percent (12%) per annum.
(c) Notwithstanding the provisions of subparagraph (a) above, the
unpaid balance of the Note shall be due and payable in full on the date of the
third anniversary of the closing of this contract of sale regardless of the
number of condominium units sold as of that date.
(d) As each installment is paid to Seller by Buyer upon the
closing of a sale of a condominium unit, Seller shall, upon request of Buyer and
simultaneously with payment of the installment, release the condominium unit
and all interests appurtenant thereto sold by Buyer by execution and delivery
to Buyer or the condominium purchaser of a partial release, quitclaim deed,or
a subordination of the Seller's security interest in the condominium unit sold.
(e) Buyer shall be granted the privilege of prepaying the unpaid
balance of the Note at any time without penalty,
Alternate Security for Note
3. If at any time subsequent to the closing of this Contract, Buyer
needs for Seller to subordinate its First Mortgage in order to develop the
property, Seller will do so upon Buyer delivering to Seller an Unconditional and
Irrevocable Letter of Credit from a bank licensed to do business in and located
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in Pinellas County, Florida, acceptable to Seller which unconditionally
guarantees payment of the sums due Se 11 er pursuant to the terms of th i s
Contract, in substantially the form attached hereto as Exhibit C.
Remedies of Seller in Event of Default
2.02. In the event that Buyer shall default in the performance of this
Agreement, Seller shall have one of the following remedies:
1), Prior to Buyer's commencement of construction of the improvements
contemplated hereby, Seller may, at its option, either proceed to recover title
to the property pursuant to the terms of the Note and Mortgage or collect the
balance due under the terms of the Letter of Credit.
2). If Buyer has commenced construction of the improvements contemplated
hereby, Seller shall collect the balance due under the terms of the Letter of
Credit.
ARTICLE 3. REQUIREMENTS OF CLOSING
Time of Closing
3.01. This sale transaction shall be closed at the office of the Attorney
for the Seller, or a title insurance company selected by the Buyer, thirty (30)
days following the exercise of the Option to Purchase contained herein, or if
said day be a Saturday or Sunday or a legal holiday then on the next business
day, or if the conditions of the contract then require, or the convenience of
the parties reasonably demands, as soon thereafter as can be mutually arranged
between the parties,
Conditions of Closing
3.02, The closing of this transaction and the Buyer's obligation to
purchase the property pursuant to the contract, are conditioned upon:
Good Title
(1) The conveyance to Buyer of a good and marketable title to the
property described in Article 1.01 hereof shall be subject, however, to the
rights reserved in paragraphs (2), (3) and (4) hereof,
Restrictions and Right of Reverter
(2) To insure performance by Buyer of the terms of this contract and
the development of the property as contemplated by the parties, the following
restrictions shall survive closing and shall become restrictions of record in
the condominium declaration and all deeds which shall be binding upon Buyer and
all of Buyer's successors in title and interest, and Seller shall retain a right
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of reverter in the property described in Article 1.01 hereof in the event of
noncompliance:
(a) Buyer shall develop and construct at least fifty (50) privately-
owned condominium units of at least 800 square feet each and with a minimum
sales price of at least $60,000.00 each within five (5) years of the date of the
or i g i na 1 opt i on granted Buyer. However, upon payment of the tota 1 purchase
price of Four Hundred Thousand Dollars ($400,000.00), and construction of the
condominium units provided for in this Contract by Buyer, Seller shall, upon
request of Buyer, release the right of reverter by a proper conveyance.
(b) Neither the Buyer nor any of Buyer I s Successors in title and
interest shall cause or permit the property or any portion thereof, including
but not limited to any condominium parcel thereof, to be classified as exempt
from ad valorem property taxation by any taking authority in Pinellas County,
Florida, for any reason and this restriction shall be contained in all
condominium documents and deeds affecting the property. This restriction shall
expire on December 31, 2010.
General Exceptions
(3) The conveyance of sa i d property sha 11 a 1 so be subject to all
restrictions, easements, conditions, reservations, limitations, zoning
ordinances and taxes and assessments, both general and special, for the year of
c 1 os i ng and subsequent year, as ev i denced, to the extent app 1 i cab 1 e, by a
customary form of title insurance commitment and policy to be issued to Buyer
and paid for by Buyer in connection with such closing.
Certain Rights Reserved
(4) As required by Section 270.11, Florida Statutes, Seller reserves
unto itself and its successors in interest an undivided three-fourths (3/4)
interest in, and title to, an undivided three-fourths (3/4) interest in all of
the phosphate, minerals, and metals that are or may be in, on, or under the real
property described herein, and an undivided one-half (1/2) interest in all the
petroleum that is or may be in, or under said property with the privilege to
mine and develop the same.
Delivery of Possession
(5) Del ivery of possession of said property shall be made to Buyer
immediately upon closing, and closing shall mean the delivery and transfer of
legal title.
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Prorations
3.03. There shall be prorated between Seller and Buyer on the basis of
thirty (30) day months, as of the day before the date of closing, any real
estate taxes levied or assessed against the property for the year of closing,
Expenses of Closing
3.04. The expenses of closing described in this Article shall be paid 1n
the following manner:
(1) The tit 1 e insurance commi tment and po 1 icy issued to Buyer in
connection with the closing shall be paid for by the Buyer.
(2) The cost of preparing, executing and acknowledging any deeds, Note
and Mortgages, or other instruments required to convey title to Buyer and secure
Seller's interest therein in the manner described in this Contract shall be
prepared by the Attorney for the Seller or otherwise paid for by Seller.
(3) Any costs of transfer and recordation of title and any financing
documents called for by this Contract shall be paid by Buyer.
(4) Any tax imposed on the conveyance of title to Buyer shall be paid
by Seller and any tax imposed on the Note and Mortgage shall be paid by Buyer.
(5) Any other expenses of closing, including the expense of a survey,
shall be paid by Buyer.
(6) Buyer shall be credited at closing with any adjustment due Buyer
pursuant to 4.13 hereof because of an increase in an impact fee affecting the
property described in 1.01 hereof becoming effective after May 15, 1989.
Conditions to Seller's Obligations
3.05. The obligation of Seller hereunder to consummate the Closing
contemplated hereby is subject to the satisfaction, at the Closing, of each of
the following conditions (any of which may be waived in whole or in part in
writing by Seller at or prior to the Closing):
(a) Presales. Purchaser shall have entered into agreements
with consumers for the purchase of a minimum of fifty
(50)% percent of the Condominium Units to be constructed
on the Property, with each consumer having paid an
earnest money deposit, in escrow, of at least ten (10%)
percent of the purchase price for the respective unit.
(b) Approvals of Governmental Authorities. Purchaser shall
have secured the approvals of all federal, state, county
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and municipal governmental authorities necessary for the
development of the Property contemplated hereby,
(c) Escrow Aareements. Purchaser sha 11 have entered
into such Escrow Agreements as may be required hereby
for the escrow of Purchaser's Earnest Money Deposit,
Certificate of Deposit or Irrevocable Letter of Credit
and the escrow of the Earnest Money Deposits of
condominium purchasers; which Escrow Agreements shall
be upon terms mutually acceptable to the parties hereto.
(d) Compliance by Purchaser. Purchaser shall have
performed, observed and complied with all the covenants,
agreements and conditions required by this Agreement to
be performed, observed and complied with by Purchaser
prior to or as of Closing.
ARTICLE 4. REPRESENTATIONS AND WARRANTIES OF SELLER
Warranties of Seller
Seller hereby represents and warrants to Buyer as follows:
4.01. Marketable Title. Seller has good, marketable and
insurable title to the Property, free and clear of all
mortgages, liens, encumbrances, leases, tenancies,
security interests, covenants, cond it ions, restri ct ions,
right-of -way, easements, judgments and other matters
affecting title.
4.02. No Condemnation Pendina or Threatened. There is no good
pending or threatened condemnation or similar proceeding
affecting the property or any portion thereof, nor has
Seller knowledge that any such action is presently
contemplated.
4.03. Adverse Information. Seller has no information or
knowledge of any change contemplated in any applicable
laws, ordinances or regulations, or any judicial or
administrative action, or any action by adjacent
landowners, or natural or artificial conditions upon the
property which would prevent, limit, impede or render
more costly Buyer's contemplated use of the property as
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aforedescribed and Seller specifically makes no warranty
that the land is suitable for any particular purpose.
4.04. Compliance with Laws. Seller has complied with all
applicable laws, ordinances, regulations, statutes,
rules and restrictions pertaining to and affecting the
property. Performance of this Contract will not result
in any breach of, or constitute any default under, or
result in the imposition of, any lien or encumbrance
upon the property under any agreement or other
instrument to which Seller is a party or by which Seller
or the property might be bound.
4,05. Pendino Litioation. There are no legal actions,
suits or other legal or administrative proceedings,
including condemnation cases, pending or threatened
condemnation or similar proceedings affecting the
property or any portion thereof, nor has Seller
knowledge that any such action is presently
contemplated.
4.06. No Special Assessments. No portion of the property is
affected by any spec i a 1 assessments, whether or not
constituting a lien thereon.
4.07. Access to Hiohways and Roads. The property has full,
free and adequate access to and from public highways and
roads, and Seller has no knowledge of any fact or
condition which would result in the termination of such
access.
4.08. That there are no moratoriums pending or contemplated
that would affect Buyer's ability to use the property
as contemplated herein and that none shall exist at
closing.
4.09. That sa i d property sha 11 not be encumbered by the
creation of any new leases of the property or its
existent facilities not shall any existent leases be
extended, and that the lease periods of all existent
leases shall expire prior to closing.
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4.10. That the City of Clearwater, Community Redevelopment
Agency is the authorized representative of those owning
the property and is representing them in this
transaction.
4.11. Leases and Contracts. The Seller warrants and
represents to the Buyer that as of the date of th i s
Contract, there are no leases affecting the property or
any party thereof.
4.12. Conditions of Property. The property is being sold in
its "as is" condition.
4,13. Impact Fee Increase. Seller warrants that any
governmental impact fee increase, be it federal, state,
county, city or other government or quas i-government
entity, becoming effective one (1) year after the
execution of the Option, the effect of which is to
increase the development costs of the condominium
project to Buyer shall be deducted from the purchase
pr i ce of the contract, prov i ded , however, the tota 1
deduct i on from the purchase pr i ce sha 11 not exceed
Twenty Thousand Dollars ($20,000.00).
4,14. Utilities, Sanitary sewers are available to the
property. Water serv i ce adequate to serve the property,
developed as described herein, is available to the
property. The property is served by electricity
adequate for the development contemplated hereby. All
such utilities are usable for the contemplated
development described herein.
4.15. Zonina. The proposed development of the property
meets the zoning and land use restrictions for the City
of Clearwater, Florida.
4,16. Excavation and Dumpina of Refuse. Seller warrants and
represents that it has not performed and has no
knowledge of any excavation, dumping or burial of any
refuse materials of any nature whatsoever on the
property.
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4.17. Sur v i va 1 of Reoresentat ions and Warrant i es. The
representations and warranties set forth in this Article
4 shall be continuing and shall be true and correct on
and as of the c 1 os i ng date wi th the same force and
effect as if made at that time, and all of such
representations and warranties shall survive the closing
and shall not be affected by any investigation,
verification or approval by any party hereto or by
anyone on behalf of any party hereto. The Buyer must
satisfy itself as to the validity of these
representations and warranties at least thirty (30) days
prior to closing.
ARTICLE 5. REPRESENTATIONS AND WARRANTIES OF BUYER
5,01, Buyer hereby represents and warrants to Seller as follows:
(1) That Buyer wi 11 develop the property described herein by the
construction of a condominium containing at least fifty (50) privately owned
units with actual construction to commence within one (1) year of the date of
closing of this real estate sale;
(2) That construction of the condominium project will be completed
within three (3) years of the date of closing of this real estate sale;
(3) That notwithstanding paragraphs (1) and (2) above, Buyer will not
begin construction of the project until at least twenty five (25) of the
condominium units are under contract for sale, and any construction undertaken
on said property shall be covered by a performance bond with a copy thereof to
be delivered to Seller.
(4) That any other provision of this Contract to the contrary
notwithstanding, Buyer shall, prior to closing hereon, have obtained the
approvals of all governments and governmental agencies federal, state and local,
necessary for the development of the property described in 1.01 hereof as
contemplated herein, including approval of site and building plan, and
compliance herewith is a prerequisite to Seller's obligation to close on this
Contract,
(5) That any other provision of this Contract to the contrary
notwithstanding, Buyer shall, prior to closing hereon, have performed, observed,
and complied with all the covenants, agreements and conditions required by this
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Contract to be performed, observed and complied with and compliance herewith is
a prerequisite to Seller's obligation to close on this Contract.
(6) That any other provision of this Contract to the contrary not
withstanding, Buyer shall, prior to closing hereon, have entered into such
escrow agreements, certificates of deposit, unconditional and irrevocable
Letters of Cred i t and escrow of depos i ts by condomi n i urn purchasers as are
required by this Contract to be performed, and compliance herewith is a
prerequisite to Seller1s obligation to close on this Contract.
ARTICLE 6. MISCELLANEOUS
No Assignment of Contract
6.01. This Contract shall not be assignable by Buyer and any attempt to
assign the contract shall cause an immediate forfeiture of all rights in the
Contract and any money paid by Buyer shall belong to Seller as liquidated
damages, it being agreed that actual damages are difficult, if not impossible,
to ascertain.
Survival of Covenants
6.02. Any of the representations, warranties, covenants, and agreements
of the parties, as well as any rights and benefits of the parties pertaining to
a period of time following the closing of the transactions contemplated hereby,
shall survive the closing and shall not be merged therein.
Notice
6.03. Any notice required or permitted to be delivered hereunder may be
sent by United States certified mail, postage prepaid, return receipt requested,
addressed to Seller or Buyer, as the case may be, to the Seller by notice to
City Manager, City of Clearwater, P.O. Box 4748, Clearwater, FL 34618, and to
Buyer by notice to City Center Development Corporation, 314 S. Missouri Avenue,
Clearwater, FL 34616.
What State Law Applicable
6.04, This Contract shall be construed under and in accordance with the
laws of the State of Florida. All obligations of the parties created hereunder
are performable in Clearwater, Florida.
Legal Construction
6,05. In case anyone or more of the provisions contained in this Contract
shall for any reason be held to be invalid, illegal, or unenforceable in any
respect, such invalidity, illegality, or unenforceability shall not affect any
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other provision hereof, and this Contract shall be construed as if such invalid,
illegal, or unenforceable provision had never been contained herein.
Prior Agreements Superseded
6.06. This Contract constitutes the sole and only agreement of the parties
hereto and supersedes any prior understandings or written or oral agreements
between the parties respecting the aforesaid subject matter.
Time of Essence
6.07. Time is of the essence of this Contract.
Descriptive Heading
6.08. The descriptive headings used herein are for convenience only and
are not intended to necessarily refer to the matter in sections which precede
or follow them, and have no effect whatsoever in determining the rights or
obligations of the parties,
Successors in Interest
6.09. This Contract shall be binding upon the parties hereto and
their successors in interest.
No Brokers
6.10. Each party affirmatively represents to the other party that
no brokers have been involved in this transaction and that no broker is entitled
to payment of the real estate commission because of this transaction.
Contract Recordable
6.11. This Contract shall be recordable in the public records of
Pinellas County at the election and expense of Buyer but only if prior to any
such recording Buyer shall deliver to Pinellas County Title Company as escrow
agent of Seller, a quitclaim deed in substantially the form attached hereto as
Exh i b it D and made a part hereof to be he 1 din escrow by sa i d escrow agent
pursuant to the terms of a written escrow receipt substantially in the form
attached hereto as Exhibit E and made a part hereof with the quitclaim deed to
be delivered to Seller upon the occurrence of either of the following events:
1) expiration of the Option to Purchase Real Estate without acceptance
by Buyer;
2) failure to close on the Contract for the Sale and Purchase of Real
Estate within ninety (90) days following acceptance thereof by Buyer,
and, this Contract shall be deemed a record available for public inspection in
the offices of the Seller pursuant to the Public Records Law of Florida.
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Engineering Plan and Studies
6.12. (a) Upon the execution hereof, Seller shall furnish to Buyer
copies of all engineering plans, drawings, surveys, artist's renderings and
economic and financial studies which Seller has, if any, relating to the
property, and all such information may be used by Buyer in such manner as it
desires; provided, that in the event Buyer fails to purchase the property for
any reason other than Seller1s default, all such information shall be returned
to Seller together with any information that Buyer may have obtained with
respect to the property.
(b) Seller grants permission to, and agrees to allow the Buyer or
its authorized representatives the right to enter the property for the purpose
of making surveys, topographical surveys if required, soil tests, soil borings,
soil analysis, or any other items which may be required by preliminary
engineering studies, or the appropriate Governmental Planning and Zoning Board.
In this respect, Buyer or its authorized representatives, agree that no borings
or tests shall be made under existing improvements, or in any way which will
damage existing improvements. In this regard, no such examination will be
deemed to constitute a waiver or relinquishment on the part of the Buyer of its
right to rely on the covenants, representations, warranties or agreements made
by Seller. Buyer hereby agrees to hold Seller harmless from any damages or
liabilities arising from injuries caused by Buyer, its agents or representatives
in pursuing the activities permitted under this Section.
Signs
6.13. Buyer shall have the right to erect and maintain upon the property
all signs that it deems appropriate to the conduct of the condominium project
so long as the same are in compliance with City Code and all other applicable
laws and regulations.
Seller's Use of Premises Pending Construction
6.14. Seller reserves for itself, the City of Clearwater, its
Commissioners and employees the right to use the property for the parking of
City vehicles and private vehicles of City employees until 6:00 p.m. on the day
the building permit is issued to start construction of the condominium project
described in this Contract provided, however, Seller1s reservations of right of
use as contained in this paragraph shall not interfere with Buyer's site
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inspections, investigations, core drillings, engineering and feasibility studies
involving the property.
Mechanics,. Materialmen.s, Tax and Other Liens
6.15. (a) Prohibition Aaainst Liens. Buyer shall not suffer or permit
any mechanics' liens, materialmen's liens, tax or other liens to be filed
against the property by reason of any work, labor, services, taxes or materials
supplied or claimed to have been supplied for or to the property or the Buyer.
(b) Removal of Liens by Buyer. If any such mechanics' liens,
materialmen's liens, tax lien or other lien shall be recorded against the
property or any improvements thereon, Buyer shall cause the same to be removed
or, and in the alternative, if Buyer in good faith desires to contest the same,
Buyer shall be privileged to do so provided Buyer complies with the provisions
of paragraph C hereof, and i ndemn if i es and saves Se 11 er and Se 11 er I s sa i d
property harmless from all liability for damages occasioned thereby and shall,
in the event of a judgment of foreclosure upon said lien, cause the same to be
discharged and removed prior to the execution of such judgment.
(c) Security Aaainst Lien Foreclosure. If any lien shall be
recorded against the property and Buyer desires to contest the same rather than
immediately discharge said lien, Buyer shall within ten (10) days give security
against a judgment of foreclosure upon such lien on said property by delivering
to Seller an unconditional and irrevocable Letter of Credit issued by a bank
acceptable to Seller doing business in Pinellas County, Florida, wherein the
bank in said Letter of Credit agrees to pay 100 percent of the sum necessary to
discharge any judgment of foreclosure of any lien filed against said property
prior to the execution on any such judgment. The Letter of Credit called for
in this paragraph shall be in addition to any other Letter of Credit provided
for in this Contract and it shall be in substantially the same form as Exhibit
C to this Contract. In 1 ieu of a Letter of Credit as provided in this
paragraph, Buyer may, within ten (10) days after receipt of notice of the filing
thereof, either satisfy the said lien or post a bond with the Clerk of Court as
security for the lien pursuant to the provisions of Chapter 713, Florida
Statutes.
Radon Gas Notice
6.16 RADON GAS. Radon is a naturally occurring radioactive gas that,
when it has accumulated in a building in sufficient quantities, may present
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health risks to persons who are exposed to it over time. Levels of radon that
exceed federal and state guideline have been found in buildings in Florida.
Additional information regarding radon and radon testing may be obtained from
Pinellas County Health Department.
IN WITNESS WHEREOF, the parties have hereunto set their hands the day and
year first above written.
WITNESS:
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Marie J. JfAser
CORPORATION
By:
L J;,~~.-./ d ,_~.~__{hl a-___ 1-
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Frances A. Sunderland
OPTIONEE/BUYER
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STATE OF FLORIDA )
)ss
PINELLAS COUNTY)
On this 1ST day of June , 1989, before me, a Notary Public in and
for sa i d county, appeared JOHN H. GALLANT and ROLF GUTERMANN,
personally known to me who first by me being sworn did say that they are the
President and Secretary respectively of City Center Development Corporation, and
that the seal affixed to said instrument is the corporate seal of said
corporation, and that said instrument was signed and sealed in behalf of said
corporation by authority of its board of directors and said President and
Secretary acknowledged said instrument to be the free and voluntary act and deed
of said corporation.
IN TESTIMONY WHEREOF, I have hereunto affixed my name and official seal
at Clearwater , Florida, this 1st day of June , 1989.
( Sea 1)
. L~~ L ~EE~
/ CONSTANCE C. GREEN
Notary Public
My Commission Expires:
, P NotiWy Publi(, State of Florida
My Commission Expires Nov, 24, 1991
~onded Thrw Trey fain. 'nsurance In~
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WITNESSES:
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF CLEAR ATER
Chai
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.
By:
ATTEST:
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(\ -~~.~~ z. A Du~_
U Secretary
OPTIONOR/SEllER
STATE OF FLORIDA )
)ss
PINELLAS COUNTY )
On this ~day of June , 1989, before me a Notary Public
in and for said county, appeared RITA GARVEY and CYNTHIA E. GOUDEAU, personally
known by me, who did say that they are the Chairman and Secretary, respectively,
of COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, this day
acknowledged before me that they executed the foregoing Option to Purchase Real ~
Estate as such officials and I FURTHER CERTIFY that I know the said persons
making said acknowledgments to be the individuals described in and who executed
the same Option to Purchase Real Estate.
(SEAL)
\
JJ1~
blic, Pinellas County
Expires:
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This Instrument Prepared by:
LEO W. SCHRADER, ESQUIRE
Assistant City Attorney,
City of Clearwater
P.O. Box 4748
Clearwater, Florida 34618
16