113 Palmetto Ave Sales Contract Commercial Contract s
I. PARTIES AND PROPERTY: Ana P . Yebba & Maria EIrrca ("Buyer")
2� agrees to buy arid., ......... ......_.,__ City of Canford, a Flor'dsE Municipal_Cor orad Q. ("Seller")
im) mew
;r° agrees to sell the property as: Street Address: 113Palmetto Avenue Sanfor Florida 3. 771
4' Seminole County Property Appraiser's Tax Parcel#t 25 19 30 5AG 0'301-011 A
Legal Description: ,Attached as Exhibit_ A ' incorporated herein and made a part of this contract and also identified
by the street address of 113& 117 Palmetto Avenue„ Sanford, Florida
7- and the following Personal Property:None.
81 _.___...._....___....._.___ _ _.___.. _._.._......_..______.___ --1-----.---...--1-1-------_.___-...__.....---______.__.____.._.
9 (all collectively referred to as the"Property") on the terms and conditions set forth below.
w- 2. PURCHASE PENCE: $_._........_......._..--60;000.00
1t° (a)Deposit held in escrow by _.Stenstrom, McIntosh Colbert&Whigham_..P!
12 ("Escrow Agent") (cf,fx,,vs we dut)ecc ro cctw.ti and fml crlrilectionro
13, Escrow Agent's address: 1001 Heathrow Park Lane_.Suite 4001, Lake Mary, FL 32745 phone:. (407) 322-2171
tat• (b)Additional deposit to be made to Escrow Agent within days after Effective Date
IT (c)Additional deposit to be made to Escrow Agent within.-..-,,,--days after Effective Date
16* (d)Total financing (see Paragraph 5) .��..._..._...._._..........__.........._._.._
17, (e)Other _._..._..... _ _._ _._._.. __......_ _....._ _... $
18 (f)All deposits will be credited to the purchase price at closing. Balance to close, subject
isa• to adjustments and prorations,to be paid with locally drawn cashier's or official bank S...__._.,_._...... __..._54,000.00
Zea check(s)or wire transfer.
21 3.TIME FOR ACCEPTANCE; EFFECTIVE DATE; COMPUTATION OF TIME: Unless this offer is signed by Seller
22 and Buyer and an executed copy delivered to all parties on or before--r acceptance of any counter offer will be 3
2„ days from the date the counter offer is delivered.The"Effective Date" of this Contract is the date on which the
2,5 last one of the Seller and Buyer has signed or initialed and delivered this offer or the final counter offer.
26 Calendar days will be used when computing time periods, except time periods of 5 days or less. Time periosts of 5
27 days or less will be computed without including Saturday, Sunday, or national legal holidays. Any time period ending
28 on a Saturday, Sunday,or national legal holiday will extend until 5:00 p.m. of the next business day.Time is of the
era essence in this Contract.
;art 4.CLOSING DATE AND LOCATION:
;ii° (a)Closing Date:This transaction will be closed on_........__November 22, 2016 .__.(Closing Date), unless specifically
32 extended by other provisions of this Contract.The Closing Date will prevail over all other time periods including, but
:1,> not limited to, Financing and Due Diligence periods, in the event insurance underwriting is suspended on Closing
;aa Date and Buyer is unable to btain property insurance, Buyer may postpone closing up to 5 days after the
f, insurancE.unc e riting s sior r is lifted.
(�,r �
36°, Buy 6 and Seller.( �(..... _.._}acknowledge receipt of a copy of this page,which is Pugs 1 of€3 Pages.
(,C-Il Re1v. 12/10 x'._010 F Fonda Realtors All Rghrs rit°smed
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37' (b)Location: Closing will take place in,- SEMINOLE ---County, Florida. (if left blank,closing
38 will take place in the county where the property is located.)Closing may be conducted by mail or electronic means,
3E, 5.THIRD PARTY FINANCING-
4o- BUYER'S OBLIGATION:Within---days(5 days if left blank)after Effective Date, Buyer will apply for third party
41' financing in an amount hot to exceed of the purchase price or$,-,. t
with a fixed interest rate
42- not to exceed per year with an initial variable interest rate not to exceed with points or commitment
-x or loan fees not to exceed of the principal amount, for a term of years,and amortized over
4-4
years,with additional terms as follows:
45' This will be a cash purchase transaction.
,16 Buyer will timely provide any and all credit, employment,financial and other information reasonably required by any
47' lender. Buyer will use good faith and reasonable diligence to(I)obtain Loan Approval within days(45 days if
48 left blank)from Effective Date(Loan Approval Date), (if)satisfy terms and conditions of the Loan Approval, and
43 (iii)close the loan. Buyer will keep Seller and Broker fully informed about loan application status and authorizes the
so mortgage broker and lender to disclose all such information to Seller and Broker. Buyer will notify Seller immediately
si upon obtaining financing or being rejected by a lender, CANCELLATION: If Sayer,after using good faith and
_92- reasonable diligence,fails to obtain Loan Approval by Loan Approval Date, Buyer may within days(3 days if left
53 blank)deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract,
54 If Buyer does neither,then Seller may cancel this Contract by delivering written notice to Buyer at any time
5� thereafter. Unless this financing contingency has been waived,this Contract shall remain subject to the
5,: satisfaction, by closing,of those conditions of Loan Approval related to the Property. DEPOSIT(S)(for purposes
=57 of Paragraph 5 only): If Buyer has used good faith and reasonable diligence but does not obtain Loan
5,t3 Approval by Loan Approval Date and thereafter either party elects to cancel this Contract as set forth above or the
scl lender fails or refuses to close on or before the Closing Date without fault on Buyer's part, the Deposit(s)shall be
,3o returned to Buyer,whereupon both parties will be released from all further obligations under this Contract,except for
ci obligations stated herein as surviving the termination of finis Contract. If neither party elects to terminate this Contract
62 as set forth above or Buyer fails to use good faith or reasonable diligence as set forth above, Seller will be entitled to
63 retain the Deposit(s)if the transaction does not close.
64- 6.TITLE:Seller has the legal capacity to and will convey marketable title to the Property by[J'statutory warranty
i3r_- deed` other SPECIAL WARRANTY DEED free of liens,easements and encumbrances of record or
66 known to Seller, but subject to property taxes for the year of closing;covenants, restrictions and public utility
67 easements of record;existing zoning and governmental regulations'.and(list any other matters to which title will be
6p,- subject)141NEEIAL.RIGHTS WILL NOT BE CONVEYED.
-------------___.......
70 provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the
av Property as -------------- -----------
72 (a)Evidence of Title:The party who pays the premium for the title insurance policy will select the closing agent
73 and pay for the title search and closing services. Seller will, at(check one)F Seller's[]Buyer's expense and
74 within 30 days l after Effective Date'l, or at least days before Closing Date deliver to Buyer(check one;
Xi(I.)a title insurance commitment by a Florida licensed title insurer setting forth those matters to be
76 discharged by Seller at or before Closing and, upon Buyer recording the deed,an owner's policy in the amount
77 of the purchase price for fee simple title subject only to exceptions stated above. If Buyer is paying for the
78 evidence of title and Seller has an owner's policy, Seller will deliver a copy to Buyer within 15 days after
79 Effective Date.
ars 17",(ii.)an abstract of title,prepared or brought current by an existing abstract firm or certified as correct by an
existing firm. However, if such an abstract is not available to Seller,then a prior owner's title policy acceptable
132 to the proposed insurer as a base for reissuance of coverage may be used.The prior policy will include copies
8111 of all policy exceptions and an update in a format acceptable to Buyer from the policy effective date and
r," certified to Buyer or Buyer's closing agent together with copies of all documents recited in the prior policy and
85 in the update. If such an abstract or prior policy is not available to Seller then(I.)above will be the evidence of
8 6 title.
87 (b)Title Examination: B yer will, within 15 days from receipt of the evidence of title deliver written notice to Seller
.98 of title of ts, itle will b Examination:
acceptable to Buyer if(1) Buyer fails to deliver proper notice of defects or
89 Buyerand Seller acknowledge receipt ol a copy of this page,which is Page 2 of 8 Pages.
CC--I Rev.121!0 �/2010 Florida Reollors' All Slights Reserved
SenaV*036489-000146-9627848
go, (2) Buyer delivers proper written notice and Seller cures the defects within.-30 days from receipt of the notice
91 ("Curative Period"), If the defects are cured within the Curative Period,closing will occur within 1 0 days from receipt
92 by Buyer of notice of such curing. Seller may elect not to cure defects if Seller reasonably believes any defect
93 cannot be cured within the Curative Period, If the defects are not cured within the Curative Period, Buyer will have
94 10 days from receipt of notice of Seller's inability to cure the defects to elect whether to terminate this Contract or
95 accept title subject to existing defects and close the transaction without reduction in purchase price.
96 (c)Survey: (check applicable provisions below)
97, iKl(L)Seller will,within .-30 days from Effective Date,deliver to Buyer copies of prior surveys, plans,
98 specifications, and engineering documents, if any, and the following documents relevant to this transaction:
991
i0lo prepared for Seller or in Seller's possession,which show all currently existing structures. In the event this
101 transaction does not close,all documents provided by Seller will be returned to Seller within 10 days from the
102 date this Contract is terminated,
17x
JBuyer will,at,M_)Seller's,_ Buyer's expense and within the time period allowed to deliver and examine title
1011 evidence.obtain a current certified survey of the Property from a registered surveyor. If the survey reveals
105, encroachments on the Property or that the improvements encroach on the lands of another,4 !Buyer will
1061 accept the Property with existing encroachmentsEJ such encroachments will constitute a title defect to be
10 cured within the Curative Period,
108 (d)Ingress and Egress:Seller warrants that the Property presently has ingress and egress.
iog 7. PROPERTY CONDITION-Seller will deliver the Property to Buyer at the tirne agreed in its present"as is'
to condition,ordinary wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition,
l-
,I Seller makes no warranties other than marketability of title. In the event that the condition of the Property ties
ii3 materially changed since the expiration of the Due Diligence Period, Buyer may elect to'terminate the Contract and
113 receive a refund of any and all deposits paid, plus interest, if applicable.By accepting the Property"as is", Buyer
114 waives all clairns against Seller for any defects in the Property. (Check(a)or(b))
115, 'D(a)As Is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its"as is"
,i6 condition.
117 N.1(b)Due Diligence Period:Buyer will,at Buyer's expense and within 90--days frorn Effective Date("Due
its Diligence Period"),determine whether the Property is suitable, in Buyer's sole and absolute discretion, for Buyer's
C- intended use and development of the Property as specified in Paragraph 6. During the Due Diligence Period,
-20 Buyer i-nay conduct any tests, analyses, surveys and investigations("Inspections")which Buyer deems necessary
121 to determine to Buyer's satisfaction the Property's engineering,architectural, environmental properties;zoning and
122 zoning restrictions;flood zone designation and restrictions-,subdivision regulations;soil and grade;availability of
123 accesstopublic roads,water, and other utilities;consistency with local,state and regional growth management and
124 comprehensive land use plans',availability of permits,government approvals and licenses;compliance with
125 American with Disabilities Act;absence of asbestos,soil and ground water contamination;and other inspections
126 that Buyer deems appropriate to determine the suitability or the Property for Buyer's,intended use and
127 development. Buyer will deliver written notice to Seller prior to the expiration of the Due Diligence Period of
128 Buyer's determination of whether or not the Property is acceptable. Buyer's failure to comply with this notice
2,g requirement will constitute acceptance of the Property in its present as is"condition. Seller grants to Buyer,its
130 agents,contractors and assigns,the right to enter the Property at any time during the Due Diligence Period for the
I'll purpose of conducting Inspections;provided, however,that Buyer. its agents,contractors and assigns enter the
'32 Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seiler harmless from losses,
33
damages,costs,claims and expenses of any nature, including attorneys'fees at all levels, and from liability to any
z34 person, arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer will not engage
.3 in any activity that could result in a mechanic's lien being filed against the Property without Seller's prior written
136 consent, In the event this transaction does not close, (1) Buyer will repair all damages to the Property resulting
137 from the Inspections and return the Property to the condition it was in prior to conduct of the Inspections, and
1139 (2) Buyer will,at Buyer's expense release to Seller all reports and other work generated as a result of the
139 Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seiler agrees that Buyer's
T
�40 deposit will be immediately returned to Buyer and the Contract terminated.
14! (c)?W3 I -throu Inspect* n:Buyer may,on the day prior to closing or any other tirne mutually agreeable to the
142' Buyer and Seller acknowledge receipt of a copy of this page,%vhich is Page 3 of 8 Pages.
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1,13 parties,conduct a final"walk-through"inspection of the Property to determine compliance with this paragraph and
144 to ensure that all Property is on the premises,
145 8.OPERATION OF PROPERTY DURING CONTRACT PERIOD:Seller will continue to operate the Property and any
14r, business conducted on the Property in the manner operated prior to Contract and will take no action that would
147 adversely impact the Property,tenants, lenders or business, if any,Any changes, such as renting vacant space,that
1481 materially affect the Property of,Buyer's intended use of the Property will be permitted,[-lonly with Buyer's consent
149Buyer's consent.
,so 9.CLOSING PROCEDURE: Uniess otherwise agreed or stated herein,closing procedure shall be in accordance with
the norms where the Property is located.
152 (a)Possession and Occupancy: Seller will deliver possession and occupancy of the Property to Buyer at
153 closing.Seller will provide keys, remote controls, and any security/access codes necessary to operate all locks,
154 mailboxes, and security systems.
155 (b)Costs:Buyer will pay Buyer's attorneys'fees,taxes and recording fees on notes, mortgages and financing
156 statements and recording fees for the deed. Seller will pay Seller's attorneys'fees,taxes on the deed and
recording fees for docurnents needed to cure title defects. If Seller is obligated to discharge any encumbrance at of,
iss prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances.
it�9 (c)Documents: Seller will provide the deed;bill of sale;mechanic's lien affidavit',originals of those assignable
11 Flo service and maintenance contracts that will be assumed by Buyer after the Closing Date and letters to each
i6l service contractor from Seller advising each of them of the sale of the Property and, if applicable, the transfer of its
162 contract, and any assignable warranties or guarantees received or held by Seller from any manufacturer,
i<,3 contractor, subcontractor, or material supplier in connection with the Property,current copies of the condominium
164 documents,if applicable;assignments of leases, updated rent roll',tenant and lender estoppels letters;tenant
5 subordination, non-disturbance and attornment agreements(SNDAs)required by the Buyer or Buyer's lender;
156 assignments of permits and licenses;corrective instruments',and letters notifying tenants of the change in
167 ownership/rental agent. If any tenant refuses to execute an estoppels letter, Seller will certify that information
i 68. regarding the tenant's lease is correct. If Seller is an entity, Seller will deliver a resolution of its Board of Directors
16-9 authorizina the sale and delivery of the deed and certification by the appropriate party certifying the resolution and
170 setting forth facts showing the conveyance conforms to the requirements of local law. Seller will transfer security
171 deposits to Buyer. Buyer will provide the closing statement, mortgages and notes,security agreements.and
172 financino statements,
7,j. (d)Taxes and Prorations: Real estate taxes, personal property taxes on any tangible personal property.bond
174 payments assumed by Buyer,interest, rents(based on actual collected rents),association dues,insurance
'75 premiums acceptable to Buyer, and operating expenses will be prorated through the day before closing. If the
176 amount of taxes for the current year cannot be ascertained, rates for the previous year will be used with due
,-r; allowance being made for improvements and exemptions.Any tax proration based on an estimate will. at request
178 of either party,be readjusted upon receipt of current year's tax bill;this provision will survive urvive closing.
179 (e)Special Assessment Liens:Certified, confirmed, and ratified special assessment liens as of the Closing Date
80 will be paid by Seller. H a certified,confirmed,and ratified special assessment is payable in installments, Seller will
i8i pay all installments due and payable on or before the Closing Date,with any installment for any period extending
182 beyond the Closing Date prorated, and Buyer will assume all'installments that become due and payable after the
183 Closing Date, Buyer will be responsible for all assessments of any kind which become due and owing after Closing
184 Date, unless an improvement is substantially completed as of Closing Date, If an improvement is substantially
185 completed as of the Closing Date but has not resulted in a lien before closing, Seiler will pay the amount of the last
186 estimate of the assessment,'This subsection applies to special assessment liens imposed by a public body and
i87 does not apply to condominium association special assessments.
88 (f)Foreign Investment in Real Property Tax Act(FIRPTA): If Seller's a"foreign person"as defined by FIRPTA,
is;,= Seller and Buyer agree to comply with Section 1445 of the Internal Revenue Code. Seller and Buyer will
19(), complete,execr e,and d Niver as directed any instrument,affidavit,or statement reasonably necessary to comply
nts
19i with t a P I requirem ts,including delivery of their respective federal taxpayer'identification numbers or
EJ
IC2' Buyerr owledge receipt of a copy of this page,A,,hich is Page 4 of 8 Pages,
and Seller ackn,
CC-4 Rev.f2)10 Florida Piealltots M Rights Rete ed
Se,W:03G Efi-b00E6S-9b278.3$
193 Social Security Numbers to the closing agent. If Buyer does not pay sufficient cash at closing to meet the
194 withholding requirement, Seller will deliver to Buyer at closing the additional cash necessary to satisfy the
1145 requirement,
i96 10. ESCROW AGENT:Seller and Buyer authorize Escrow Agent or Closing Agent(collectively"Agent")to
i97 receive,deposit,and hold funds and other property in escrow and,subject to collection,disburse them in accordance
X98 with the terms of this Contract.The parties agree that Agent will not be liable to any person for misdelivery of
ig,j escrowed!Items to Seller or Buyer, unless the misdelivery is due to Agent's willful breach of this Contract or gross
2c0 negligence. If Agent has doubt as to Agent's duties or obligations under this Contract,Agent may,at Agent's option,
201 (a)hold the escrowed items until the parties mutually agree to its disbursement or until a court of competent
202 jurisdiction or arbitrator determines the rights of the parties or(b)deposit the escrowed items with the clerk of I
203 the court having jurisdiction over the matter and file an action in interpleader. Upon notifying the parties of such action,
204 Agent will be released from all liability except for the duty to account for items previously delivered out of escrow. If
205 Agent is a licensed real estate broker,Agent will comply with Chapter 475, Florida Statutes. In any suit in which Agent
206 interpleads the escrowed items or is made a party because of acting as Agent hereunder,Agent will recover
207 reasonable attorney's fees and costs incurred,with these amounts to be paid from and out of the escrowed items and
208 charged and awarded as court costs in favor of the prevailing party.
209 11.CURE PERIOD:Prior to any claim for default being made, a party will have an opportunity to cure any alleged
210 default. If a party Falls to comply with any provision of this Contract,the other party will deliver written notice to the non-
2W complying party specifying the non-compliance.The non-complying party will have__days (5 days if left blank)after
212 deliver,,of such notice to cure the non-compliance. Notice and cure shall not apply to failure to close-
213 12. RETURN OF DEPOSIT: Unless otherwise specified in the Contract,in the event any condition of this Contract is
214 not met and Buyer has timely given any required notice regarding the condition having not been met, Buyer's deposit
215 will be returned in accordance with applicable Florida Laws and regulations,
216 13.DEFAULT:
217 (a)In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make
2-18 the title marketable after diligent effort, Buyer may either(I)receive a refund of Buyer's deposit(s)or(2)seek
219 specific performance. If Buyer elects a deposit refund, Seller will be liable to Broker for the full amount of the
220 brokerage fee.
221 (b)In the event the sale is not closed due to any default or failure on the part of Buyer, Seller may either(1)retain
222 all deposit(s)paid or agreed to be paid by Buyer as agreed upon liquidated damages,consideration for the
223 execution of this Contract,and in full settlement of any claims, upon which this Contract will terminate or(2)seek
224 specific performance. If Seller retains the deposit, Seller will pay the Brokers named in Paragraph 20 fifty percent
225 of all forfeited deposits retained by Seller(to be split equally among the Brokers)up to the full amount of the
226 brokerage fee. If Buyer fails to timely place a deposit as required by this Contract, Seller may either(1)terminate
227 the Contract and seek the remedy outlined in this subparagraph or(2)proceed with the Contract without waiving
228 any remedy for Buyer's default.
229 14.ATTORNEYS FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract,the
230 prevailing party,which for purposes of this provision will include Buyer, Seller and Broker,will be awarded reasonable
231 attorneys'fees, costs, and expenses.
232 15. NOTICES:All notices will be in writing and may be delivered by mail,overnight courier, personal delivery,or
233 electronic means. Parties agree to send all notices 10 addresses specified on the signature page(s).Any notice,
234 document,or item given by or delivered to an attorney or real estate licensee(including a transaction broker)
235 representing a party will be as effective as if given by or delivered to that party.
236 16. DISCLOSURES:
237 (a)Commercial Real Estate Sales Commission Lien Act:The Florida Commercial Real Estate Sales
238 Commission Lien Act Prov" es that a broker has a lien upon the owner's net proceeds from the sale of commercial
.1 ! �
2,39 real ate a commi so earned by the broker under a brokerage agreement.The lien upon the owner's net
r 17
240* Buyr and 7�
0%
Sell acknowledge receipt of a copy of this Page,which is Page 5 of 8 Pages.
1 1 1
CC-41 RA-v,1WIC Fic"ida Roaltor5 Ail Right3 RcFcfved
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241 proceeds is a lien upon personal property which attaches to the owner's net proceeds and does not attach to any
._a2 interest in real property, This lien right cannot be waived before the commission is earned.
243 (b)Special Assessment Liens Imposed by Public Body:The Property may be subject to unpaid special
244 assessment lien(s) imposed by a public body. (A public body includes a Community Development District.)Such
245 liens, if any, shall be paid as set forth in Paragraph 9(e),
24,6 (c)Radon Gas:Radon is a naturally occurring radioactive gas that,when it has accumulated in a building in
247 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that
248 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon
24g and radon testing may be obtained from your county public health unit.
250 (d)Energy-Efficiency Rating Information: Buyer acknowledges receipt of the information brochure required by
251. Section 553,996, Florida Statutes.
252 17. RISK OF LOSS:
253 (a) If, after the Effective Date and before closing,the Property is damaged by fire or other casualty,Seller will bear
254 the risk of loss and Buyer may cancel this Contract without liability and the deposit(s)will be returned to Buyer.
255 Alternatively, Buyer will have the option of purchasing the Property at the agreed upon Purchase price and Seller
2156 will-credit the deductible, if any and transfer to Buyer at closing any insurance proceeds,or Seller's claim to any
257 insurance proceeds payable for the damage,Seller will cooperate with and assist Buyer in collecting any such
25E, proceeds, Seiler shall not settle any insurance claim for damage caused by casualty without the consent of the
2-59 Buyer.
16.0 (b)If, after the Effective Date and before closing,any part of the Property is taken in condemnation or under the
26`1 right of eminent domain,or proceedings for such taking will be pending or threatened, Buyer may cancel this
262 Contract without liability and the deposit(s)will be returned to Buyer.Alternatively, Buyer will have the option of
263 purchasing what is left of the Property at the agreed upon purchase price and Seller will transfer to the Buyer at
W-1 closing the proceeds of any award,or Seller's claim to any award payable for the taking. Seller will cooperate with
26-5 and assist Buyer in collecting any such alvard,
266-18.ASSIGNABILITY; PERSONS BOUND:This Contract may be assigned to a related entity, and otherwise[_ is
267°not assignable IL] is assignable. If this Contract may be assigned, Buyer shall deliver a copy of the assignment
2l-_9 agreernent to the Seller at least 5 days prior to Closing-The terms"Buyer," "Seller"and"Broker"may be singular or
269 plural.This Contract is binding upon Buyer, Seller and their heirs, personal representatives,successors and assigns
270 (if assignment is permitted).
271 19. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and Seller,
272 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party to be bound.
2-i3 Signatures, initials,documents referenced in this Contract,counterparts and written rniodifil-ations communicated
27< electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or
275 typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract
L,m is or becomes invalid or unenforceable, ail remaining provisions will continue to be fully effective.This Contract will be
-277 construed under Florida law and will not be recorded in any public records.
278 20. BROKERS: Neither Seller nor Buyer has used the services of,or for any other reason owes compensation to,
`74 a licensed real estate Broker other than:
280' (a)Seller's Broker- ------_NON
',>N1 (col n�fly Nw-,-a)
282'
2,93 (Address,TdephoneFay,E-fnail)
284* who Ll is a single agent is a transaction broker has no brokerage relationship and who will be compensated
285- by F",Seller Buyer both parties pursuant to a listing agreement[_1 other(Specify)
28,6' NOT APPLICABLE
4�
'287' BUY and Seller
acknowledge receipt of a copy of this page,which is Page 6 of 8 Pages.
CC-4 Rev.12110 >t i RondaReiltarAli Rights Rstrveil
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28W (b)Buyer's Broker:....._ _....... NONE
289 (Company rj 1n(�) (I ecru�ca)
290
291 (Adds loss, Tels.p harm,Fax,N mail}
2sj2' who[,_jis a single;agent [ ]is a transaction broker(_._J has no brokerage relationship and who will be compensated
293- by[_]Seller's Broker 0_..]Seller'( I Buyer__.]both parties pursuant tol,_..,j an MLS offer of compensation(_._)other(specify)
2.94* NOT APPLICABLE
__« ------- _.._ _.__._...._......_.._. _ . _.. ..,_. _......._.. _._._......
or3D (collectively referred to as 'Broker") in connection with any act relating to the Property, including but not limited to
296 inquiries, introductions, consultations, and negotiations resulting in this transaction. Seller arid Buyer agree to
2�4i indemnify and hold Broker harmless from and against losses, damages, costs and expenses of any kind„ including
298 reasonable attorneys'fees at all levels, and from liability to any person, arising from (1)compensation claimed which is
299 inconsistent with the, representations in this Paragraph„ (2)enforcement action to collect a brokerage fee pursuant to
aiw Paragraph 10, (3) any duty accepted by Broker at the request of Seller or Buyer,which is beyond the scope of
asjl services regulated by Chapter 475, Florida Statutes, as amended,or (4) recommendations of or services provided and
302 expenses incurred by any third party whom Broker refers, recommends, or retains for or on behalf of Seller or Buyer.
:,w 21. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to
,:sea this Contract):
305* �__.] Arbitration j Seller Warranty Existing Mortgage
306' �..._] Section 1031 Exchange 0 Coastal Construction Control Line[�_.] Buyer's Attorney Approval
307" ( Property inspection and Repair Ei Flood Area Hazard Zone
Seller's Attorney Approval
3081 Seller Representations I Seller Financing 5ij Other.... _Addendum No. 1
2oq 22. ADDITIONAL TERMS:
1u 1. Time is of the essence and shall be strictly applied to all dates herein.
2. The parties hereto acknowledge that the purchase price is based upon an estimate of lane)value and
3t2'improvements located upon the property may require extensive repair, restoration,renovation, replacement and new
913-construction suitable for registered."Historic Buildinr'" in accordance to csty.,_code in order for the property.to_be_
ala utilized for arayr purpose. No warranty_of an_r type is_provided Icy the seller to the bier._ The buyer has been._,.._.___...
315.cautioned by thew seLLlBer to cgm__p_lete its°oven due diligence investigation into all matters concerning il7e property and
21x,•the adjacent Y,Cleaner..pr:aperty_located..at 121_Palmetto Avenue,_Sari ford.._FIorida._whicl7 is the_sulaject?f_a._��....__
317° Environmenta)_Protection_Agency"7UpC'rFUndmmcUntraminatecl...site_cle'an u�3 J 7erahorr._.
318'3_, All termer of Addendum to Contract No. I attached hereto are inc orpurater .into andt made_a:part c f._tl7is
31w 4:...-This commercial.cont qt inclusive,of all exhrbits.qrrd_adcc.rjdtarrrs shall survive cfosn.g on.ff'7e.pul.c..l7ase.ar7ci_.._........
320-sale of the property.
321 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.IF NOT FULLY UNDERSTOOD, SEEK THE
322. ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL
:323 FACTS AND REPRESENTATIONS THAT ARE IMPORTANT TO THEM AND TO CONSULT AN APPROPRIATE
324 PROFESSIONAL FOR LEGAL ADVICE(FOR EXAMPLE, INTERPRETING CONTRACTS, DETERMINING THE
32s EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF TITLE, FOREIGN INVESTOR
326 REPORTING REQUIREMENTS, ETC.)AND FOR TAX, PROPERTY CONDITION, ENVIRONMENTAL AND OTHER
327 ADVICE. BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUPY THE PROPERTY AND THAT ALL
328 REPRESENTATIONS(ORAL,WRITTEN OR OTHERWISE)BY BROKER ARE BASED ON SELLER
32=j REPRESENTATIONS OR PUBLIC RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF
333 THE REPRESENTATION. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS
331 AND GOVERNMEN L AGENCIES FOR VERIFICATION OF THE PROPERTY CONDITION,SQUARE FOOTAGE
332 AND F CT TH T, ATEALLY AFFECT PROPERTY VALUE.
3,33,Buy,� uy rd Self ., _...)(._ )acknowledge receipt or copy of this page,whichis Page 7 of 8 Pages.
CC-4 C-4 Rev.'12110 1,;5201169 Ronda reser,,.; All Rights FWserved
+i^.nor 41 036489-000146•9627848
334 Each person signing this Contract on behalf of a party that is a busiriess entity represents and warrants to the other
party that such signatory has full power and authority to enter into and perform this Contract in accordance with its
336 terrns and ea h person executing t"js Contract and other documents on,beh I such party has been duly authorized
337�to do SO 1
Date
:3;39 -(§ignature of Bu er)
340' Ana M. Yebba Tax ID No:
141 (Typed or Printed Name of Buyer)
3,jo,Tit I e: EI 'Telephone: (407)924-7240
343 Date:
344 (Sire Buyer)
345 ria E. Sirica Tax ID No:
346 (Typed or Printed f me of Buyer)
347-Title: Buyer Telephone: (407) 927-1319
348,Buyer's Address for purpose of notice: 20-18S. Mellonville Avenue, Sanford, FL 32771
349Facsimile: Email: anayebba@rnsti.com
350, Date:
ss, (Signature of Seller)
ase Jeff Triple Tax ID No: 85-8012621681C-8
,1 5,,1 (Typed or Printed Name of Seller)
Telephone:.354-Title: Mayor of the City of Sanford, FL Tele (407) 688-5012
35' Date:
(
35s (Signature Y Seller)
357*_............. Cynthia Porter Tax 117 No: 85-801262168C-8
s.sa (Typed or Printed Name of Seller)
3554°Title: City Clerk for the City of Sanford, FL Telephone: (407) 688-5012
360'Seller's Address for purpose of notice: Attn: Mr. Norton Bonaparte,City Mgr,300 N. Park Ave., Sanford, FL 32771
361 Facsimile: (407) 688-5081 Email: Nortori.Boiiaparte({)Sanfordfl.gov
'Ihe FtondaAssoceiffon of REALTORS'makes no iclofe sent as to the Iegal validityoradequacy of any rimision of this form in any specific transaction.Mrs
star da dized"ortn should n(A be used in coinplex tuinsautions car with exerzsive riders,or addiIiofis. M.s form vs avvat*.,frif ease by aw entire real estate indusvy
snd is�om fiaendral to ic'4k9ntify Ina user a,a REALTOR',REALTOR'is a regisiered cWexfive ine"ibership mark which rmay he,used anly by real estate licensees who
are memoers,of the NANONAI.ASSOCIAJ ION OF REALFORS'and who FAibscribe to il�s Code of Efllics,
The copyright laws of the United States(17 US,Codri)forbid tho,unauthorized reproduction of this form by any rMMPS MQlUding facsimilo,or complerized forms.
362' Buy and Seller (-I�cknowledge receipt of a copy of this page,which is Page 8 of 8 Pages.
CC-4 Rev 12110 (1)2010 Florida flealtois' Ail Rights Reserved
Svial# 03648MG0146-9627848
Addendum tcac� wt r + Real tors
Addendum No. 1 to the Contract dated between
Carty of Sanford a Florida Municipal_Corporation _..- (Seller)
and .__..... _ Ana M Yebba & Maria..E. Sirica ,....... ... _. ..._._.-.__.__._ (Buyer)
concerning the property described as: 1.13._& 11µ7 Palmetto Avenue, Sanford Florida 32711
.............
.
(the"Contract"), Seller and Buyer make the following terms and conditions part of the Contract.
The parties hereto agree that the following"COVENANTS"shall be part of the instrument of conveyance (deed) recorded
in the public records, which shall survive closing on the purchase and sale of the property, and shall forever bind the
Buyer, its'agents, assigns, and successors in title.
COVENANTS:
1. The Buyer shall remove existing stucco facing/cover to expose the underlying exterior wall bricks on the west side of
the building, and complete the restoration of all the exterior brick walls of the building to historic standards for a national
registered historic landmark property, not later than one (1)year from the date of closing on the purchase and sale of the
property.
2. The Buyer, at its'sole expense, shall complete the installation of a commendatory historic plaque, containing a
narrative description approved by the Seller, not later than the date of completion of restoration described in paragraph
1., above.
3. The building located upon the property shall obtain and maintain a use and a condition of the property consistent with
all terms and conditions of the City of Sanford building codes, inclusive of historical preservation requirements, and the
"COVENANTS"contained herein, not later than eighteen (18) months from the date of closing on the purchase and sale
of the property.
4. SELLER'S FIRST RIGHT OF REFUSAL. In tine event that the Buyer„ elects to sell the property for any reason,within
two (2)years from the date of closing on the purchase and sale of the property, the Seiler, shall have the sole right and
discretion,in consideration of a portion of the sale price paid by the Buyer to the Seller at closing on the purchase and
sale of the property, to purchase the property from the Buyer in accordance to the same purchase price and terms
described in the written offer delivered to the Buyer by a"qualified" potential purchaser. The Seiler shall deliver written
notice to the Buyer of tale Seller's election to purchase the property for the same price and terns set forth in the
"qualified"potential purchaser's written offer, not later than forty-five(45) days from the date, that the Buyer has
delivered to the Seiler a complete copy of the"qualified" potential purchaser's written offer. If the Seller elects not to
purchase the property, the Buyer, upon written notice, delivered by the Seller to the Buyer, in accordance to this
paragraph, shall be released frorl any further,obligation to sell the property to the Seiler in accordance to this First Right
of Refusal. For the purpose of this First Right of Refusal, a"qualified"potential purchaser shall be any entity,or person,
that is not related in any manner to the Buyer, and shall have reasonably demonstrated the financial capability to
complete the purchase of the property for the price and terms set forth in the written offer presented to the Buyer by the
"qualified"potential purchaser. THIS PARAGRAPH SHALL NOT APPLY IN THE TRANSFER OF TITLE TO THE
PROPERTY BETWEEN THE BUYERS AND A RELATED ENTITY, OR PERSON(S).
_
Buyer-
- :.___.....___ __...._._ __._._....__.__.._.. Date: .__ /
Buyer: � � ° [
-- � °.._. _....._..._._.__�....__ Date: ...,_....._�'1
Seller: ..
_._ ..... ___.. _.d
_.... w_. -
Date:
_._...... ._ .. ..__ _'" O
_..
Seller: Date:_._._ _ . _
A(,yP-3
Rev 10/15 015 Fla ndo Realtors
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DESCRIPTION: (e{2OM TITLE CC)MMI-k#ENI), (RE:ASc'D By SJft EYCf;)
Lots rE, 12 aid €3, ;tock 3,--er % of Florida U-nd and Co,4n:.t tan Cn_ -pcny United E. R. raffordis Moo of the Tower of
Sa7,ford, according to Ine pIC UICeeof, as rero,d=ed in P"ic, Book 3 Felice 56 lirou^,h 64, ..,,Saliva,Public Records of Sefninoe
County,Ficrida, i getho i„ 2e East 2 fest at v„CLtcd Polmetto eR v uo Igd `{est of artd odjocent thereto.
Less and Except the fc-iloeng described gcrcei:
E`egioning at the Southwest corner of Lot it,3:c: 3, Uor :, 7'Florida Land and Celoriizuiics Company Lirnited E. R. Trafford's
t,Sap a= the Lown of Salford, occcriffng to the plat ther=ef, e. reco;drd in Plot.Book.t, Pegg 55 through 54. 9achisNe, PuFNc
Records of Sem"41cle County.Fforfdo, thence run Nell, morn the Wast!iso of said Lot ;:, 28.94 fee:; thence ren North
39'52`35° Ecst 71.41 feet. V ce run North CCru£'t4”E.st 99.55 feet, .:hw e run South 553'46'East 43.57 feet to c Fo€n;:
e^ the East line of Lot 92, Block 3, liar i, o9 said Fotfd: Load and Colonization ConPony Limited E,P. Trafford',Map of the
T
ern of Sanford: thence run South, along sad :aat Me, 3fL80 feet to the Southeaet roe..^,er of said Lot tt; thence eon South
8957'10"Met 05,09 ;Vr,i to the.Paar o BogPnn;nn,
949.,_ yrs the East 2 `o..w of vacated Pcfinet:o Avenue ljmng 7a at c°one adiccent .^ the_s;s and Cycept do ,.sod yurce#,
NOTE: Legal description may be subject to revision based upon certified boundary
survey,as approved by the parties and provided by the Buyer in accordance to
paragraph 6. c).,page 1.