1784 Ana Yebba & Maria Sirica 113 Palmetto Ave Sales Contract Commercial Contract k altor(�-
V 1. PARTIES AND PRtOPERTY:
Ana M. `(ebbe Barra E Srrica "
._...._.. _._...__._._.___.._...._._. __._...__ ___......_ .._....___._..___._._._.._� ( Buyer
2° agrees to buy and„ _ City of Sanford, a Flor d� Municipal Cor 7oratr _.._.__�.. ("Seller")
s° agrees to sell the property as. Street Address: 113 Palmetto Avenue Sanfor Florida 32771
4' Seminole County Property Appraiser's Tax Parcel!1 25-1 9-30-5AG-0301-011 A
G� Legal Description: Attached as ExhibitA"Jilcor rated herein and_made apart of this contract and also identified
., by the street address of 113&._1.1,7 Palmetto Avenue Sanford, Florida
7° and the following Personal Property.None
..... _. _-----_._.___.__.. ...._..._.
is (all collectively referred to as the"Property") an the terms and conditions setforth below.
c 2. PURCHASE PRICE: _.,........._ 60.000.00
11 (a) Deposit field in escrow by, Stenstrom_McIntosh_Colbert&Whlyham_ P.A. � � � 6,000.00
12 ("Escrow Agent") (oie;ck,are.;Patric+ct to actual nerd final collection)
13, Escrow Agent's address:_1001 Heathrow Park Lane, Suite 4001, Lake Mary FL 32746 Phone:_..(407) 322-2171
14.° (I3)Additional deposit to be made to Escrow Agent within_._..._days after Effective Date $______._......__.._._._..__.....---.._.___..
15, (c)Additional deposit to be made to Escrow Agent within__.__......_days after Effective Date $.___..-._._.-.._. ___............__-__..__._.._.
16, (d)Total financing (see Paragraph 5) ..,._..._. ........__._____...
18 (f)All deposits will be credited to the purchase price at closing. Balance to close, subject
11,31 to adjustments and prorations,to be paid with locally drawn cashier's or official bank $
0 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 an or before.__._Auclust_10,2016__,_,_,this offer will be
23 withdrawn and the Buyer's deposit, if any, will be returned.The time for acceptance of any counter offer will be 3
days from the date the Counter offer is delivered.The"Effective Date" of this Contract is the date on which the
25 last one of the Seller and Buyer has signed or initialed and delivered this offer or the final counter offer.
2c, Calendar days will be used when computing tirne periods, except time periods of 5 days or less. Time periods of 5
27 days or less will be computed without including Saturday, Sunday, or national legal holidays. Any time period ending
23 on a.Saturday, Sunday, or national legal holiday will extend until 5:00 p.m. of the next business day.Time is of the
2n essence in this Contract.
4. CLOSING DATE AND LOCATION:
:f1° (a)Closing Date:This transaction will be closed on___�Nove_mber 22,,2_016 ._....(Closing Date),unless specifically
32 extended by other provisions of this Contract.The Closing Date will prevail over all other time periods including,but
33 not limited to, Financing and Clue Diligence periods. in the event insurance underwriting is suspended an Closing
;34 Date and Buyer is unable to btain property insurance, Buyer may postpone closing up to 5 days after the
35 lnsuranc ,uncle riting sus sion is lifted.
Ch
e' u e -- and Seller.(,.. .. (W.)acknowledge receipt of a copy of this page,which is Page 1 of 8 Pages.
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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.
sq 5.THIRD PARTY FINANCING:
, E
w
BUYER'S OBLIGATION:Within——days(5 days if left blank)after'effective Date. Buyer will apply for third party
4v financing in an arnount not to exceed of the purchase price or$ with a fixed interest rate
42- not to exceed°16 per year with an initial variable interest rate not to exceed with points or commitment
43' or loan fees not to exceed---"%of the principal amount,for a term of years, and amortized over
14 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), (ii)satisfy terms and conditions of the Loan Approval,and
49 {iii)close the loan. Buyer will keep Setter and Broker fully informed about loan application status and authorizes the
so mortgage broker and tender to disclose all such information to Seller and Broker.Buyer will notify Seller immediately
cit upon obtaining financing or being rejected by a tender. CANCELLATION: If Buyer, after using good faith and
52- reasonable diligence, tells to obtain Loan Approval by Loan Approval Date, Buyer may within----,days(3 days if left
s3 blank)deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract.
5,,, If Buyer does neither,then Seller may cancel this Contract by delivering written notice to Buyer at any time
s5 thereafter. Unless this financing contingency has been waived,this Contract shall remain subject to tile
satisfaction,by closing,of those conditions of Loan Approval related to the Property, DEPOSIT(S)(for purposes
of Paragraph 5 only): If Buyer has used good faith and reasonable diligence but does not obtain Loan
-s8 Approval by Loan Approval Date and thereafter either party elects to cancel this Contract as set forth above or the
r�,� lender fails or refuses to close on or before the Closing Date without fault on Buyer's part,the Deposit(s)shall be
,so returned to Buyer, whereupon both parties will be released from all further oblications under this Contract,except for
6-, obligations stated herein as Surviving the termination of this 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 Ei statutory warranty
ris- deed' other SPECIAL WARRANTY DEED . free of liens.easements and encumbrances of record or
!�l
% 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
o8- subject) MINERAL RIGHTS WILL NOT Bff CONVEYED.
...........
mi provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the
7, Property,as......
72 (a)Evidence of Title:The party who pays the premium for the title insurance policy will select the closing agent
13 and pay for the title search and closing services. Seller will,at(check one)Ex!Seller's B I
uyer s expense and
74' within 30 days, after Effective Date l_j or at least____days before Closing Date deliver to Buyer(check one)
(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
evidence of title and Seller has an owner's policy,Seller will deliver a copy to Buyer within 15 days after
79 Effective Date.
at" 00 an abstract of title,prepared or brought Current by an existing abstract firm or certified as correct by an
8; existing firm. However, if such an abstract is not available to Seller,'then a prior owner's title policy acceptable
as to the proposed insurer as a base for reissuance of coverage may be used.The prior policy will include copies
813 or all policy exceptions and an update in a format acceptable to Buyer from the policy effective date and
84 certified to Buyer or Buyer's closing agent together with copies of all documents recited in the prior policy and
C5 in the update. If such an abstract or prior policy is not available to Setter then(I.)above will be the evidence of
86 title.
,97 (b)Title Examination: B yer will,within 15 days from receipt of the evidence of title deliver written notice to Seller
I:'
P8 of tAitleef7ts, itle will Abeemed acceptable to Buyer if(1) Buyer fails to deliver proper notice of defects or
'r acknowledge receipt of a copy of this pace,which is Page 2 of 6 Pages,
8 il Buye and Seller
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90, (2) Buyer delivers proper written notice and Seller cures the defects within_3_0..days from receipt of the notice
91 ("Curative Period"), If the defects are cured within the Curative Period,closing will occur within 10 days from receipt
92 by Buyer of notice of such curing. Seller may elect not to cure defects if Seiler 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' (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:
I,� prepared for Seller or in Sellerts possession,which show all currently existing structures. In the event this
Wl 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,
103' f `
.�5,1 Buyer will, at L7,Sellers 7 Buyer's expense and within the time period allowed to deliver and examine title
1c 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,i_ Buyer will
106' accept the Property with existing encroachments[ I such encroachments will constitute a title defect to be
J
1
HJ7 cured within the Curative Period,
i08 (d)Ingress and Egress:Seller warrants that the Property presently has ingress and egress.
ml 7. PROPERTY CONDITION:Seller will deliver the Property to Buyer at the time agreed in its present"as is"
Ito condition, ordinary wear and tear excepted,and will maintain the landscaping and grounds in a comparable condition.
M Seller makes no warranties other than marketability of title. In the event that the condition of the Property has
112 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
Seller f I
m waives all claims against Sell For any defects in the Property, (Check(a)or(b))
115, 1,(a)As Is:Buyer has inspected the Property or waives any right to inspect and accepts the Property in its"as is"
111 61 condition,
(b)Due Diligence Period:Buyer will, at Buyer's expense and within _90 .days from Effective Date("Due
116 Diligence Period"), determine whether the Property is suitable,in Buyer's sole and absolute discretion, for Buyer's
1,9 intended use and development of the Property as specified in Paragraph 6.During the Due Diligence Period,
20 Buyer may conduct any tests,analyses,Surveys and investigations("Inspections")which Buyer deems necessary
ipi 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 access to public 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
12.5 American with Disabilities Act;absence of asbestos,soil and ground water contamination;and other inspections
126 that Buyer deems appropriate to determine the suitability of 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
,28 Buyer's determination of whether or not the Property is acceptable. Buyer's failure to comply with this notice
219 requirement will constitute acceptance of the Property in its present"as is"condition. Seller grants to Buyer,its
3() agents,contractors and assigns,the right to enter the Property at any time during the Due Diligence Period for the
131 purpose of conducting Inspections;provided, however,that Buyer, its agents,contractors and assigns enter the
1K Property and conduct Inspections at their own risk. Buyer will indemnity and hold Seller harmless from losses,
133 damages,costs, claims and expenses of any nature, including attorneys'fees at all levels,and from liability to any
1341 person,arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer will not engage
!35 in any activity that could result in a mechanic's lien being filed against the Property without Seller's prior written
111-16 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
138 (21, 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, Seller agrees that Buyer's
140 deposit will be immediately returned to Buyer and the Contract terminated.
1'Jl (c)Wal -tlsrqu InspectA nm
' -Buyer may, on the day prior to closing or any other time mutually agreeable to the
142* Buyer I and Seller_ which is Page 3 of 8 Pages.
acknowledge receipt of a copy of this page
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143 parties,conduct a final"walk-through"inspection of the Property to determine compliance with this paragraph and
,,s- 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
i4o- business conducted on the Property in the mariner operated prior to Contract and will take no action that would
adversely impact the Property,tenants, lenders or business, if any.Any changes, such as renting vacant space,that
148- materially affect the Property or Buyer's intended use of the Property will be permitted' =only with Buyer's consent
M9' _Jvithout Buyer's consent.
yrs 9.CLOSING PROCEDURE: Unless othemise agreed or stated herein,closing procedure shall be in accordance with
i-0 the norms where the Property is located.
512 (a)Possession and Occupancy:Seller will deliver possession and occupancy of the Property to Buyer at
closing.Seller will provide keys, remote controls, and any security/access codes necessary to operate all locks,
,54 mailboxes,and security systems.
Is (b)Costs: Buyer will pay Buyer's attorneys'fees,taxes and recording fees on notes, mortgages and financing
Is statements and recording fees for the deed. Seller will pay Seller's attorneys'fees, taxes on the deed and
recording fees for documents needed to cure title defects, If Seller is obligated to discharge any encumbrance at or
148 prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances,
59 (c)Documents:Seller will provide the deed;bill of sale:mechanic's lien affidavit;originals of those assignable
1341) service and maintenance contracts that will be assurned by Buyer after the Closing Date and letters to each
61 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,
f63 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
1651 Subordination, non-disturbance and attornment agreements(S DAs)required by the Buyer or Buyer's lender;
166 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 inlormation
i68 regarding the tenant's lease is correct. If Seller is an entity, Seller will deliver a resolution of its Board of Directors
i69 authorizing 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
,72 financing statements.
173 (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
175 prerniums acceptable to Buyer,and operating expenses will be prorated through the day before closing. If the
I-7<5 amount of taxes for the current year cannot be ascertained, rates for the previous year will be used with due
177 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 closing.
179 (a)Special Assessment Liens: Certified,confirmed,and ratified special assessment liens as of the Closing Date
larl will be paid by Seller. If a certified,confirmed,and ratified special assessment is payable in installments. Seller will
5*1 pay all installments due and payable on or before the Closing Date,with any installment for any period extending
82 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 improverrient is substantially
sou completed as of the Closing Date but has not resulted in a lien before closing, Seller will pay the amount of the last
1196 estimate of the assessment.This subsection applies to special assessment liens imposed by a public body and
187 does not apply to condominium association special assessments.
s198 19 8 (f)Foreign Investment in Real Property Tax Act(PIRPTA): If Seller is a"foreign person"as defined by FIRPTA,
189 Seller and Buyer agree to comply with Section 1445 of the Internal Revenue Code, Seller and Buyer will
190 complete,exec e, and d Niver as directed any'instrument,affidavit,or statement reasonably necessary to comply
,is
19i with tte.11, PT requirern is, including delivery of their respective federal taxpayer identification numbers or
192, Buye
and Seller t, acs-novOedge Ireceip,of a ropy of this page,which is Page 4 of 8 Pages.
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193 Social Security Numbers to the closing agent, If Buyer does not pay sufficient cash at closing to meet the
194 withholding requirement, Setter will deliver to Buyer at closing the additional cash necessary to satisfy the
195 requirement.
i 9i3 10. ESCROW AGENT:Seller and Buyer authorize Escrow Agent or Closing Agent(collectively"Agent")to
137 receive,deposit, and hold funds and other property in escrow and,subject to collection,disburse them in accordance
198 with the terms of this Contract.The parties agree that Agent will not be liable to any person for misdelivery of
i 9� escrowed items to Setter or Buyer, unless the misdelivenj is due to Agent's willful breach of this Contract or gross
2o,o negligence. If Agent has doubt as to Agent's duties or obligations under this Contract,Agent may,at Agent's option,
m1 (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
los 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
20; 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
21,c default, If a party fails to comply with any provision of this Contract,the other party will deliver written notice to the non-
211 Complying party specifying the non-compliance.The non-complying party will have-—-days(5 days if left blank)after
21a delivery 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
P.i.a not me,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
2t8 the title marketable after diligent effort, Buyer may either(1)receive a refund of Buyer's deposits)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 Setter 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
223 any remedy for Buyer's default.
222 14.ATTORNEY'S FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract,the
z;o prevailing party,which for purposes of this provision will include Buyer,Seller and Broker, will be awarded reasonable
233 attorneys'tees, costs,and expenses.
232 15. NOTICES:All notices will be in writing and may be delivered by mail, overnight courier, personal delivery,or
23s electronic means. Parties agree to send all notices to 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
JI
2 real a commi s o earned by the broker under a brokerage agreement.The lien upon the owner's net
240- Buy r (A -
and Sella acknowledge receipt of a copy of this page,which is Page 5 of 8 Pages.
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2,11 proceeds is a lien upon personal property which attaches to the owner's net proceeds and does not attach to any
242 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).
246 (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
24S, and radon testing may be obtained from your county public health unit.
2501 (d)Energy-Eff iclency Rating Information: Buyer acknowledges receipt of the information brochure required by
25 1, Section 553,996, Florida Statutes,
259 17RISK OF LOSS:
2,53 (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 Seiler
256 will credit the deductible, if any and transfer to Buyer at closing any insurance proceeds,or Seller's claim to any
2.5 7 insurance proceeds payable for the damage.Seller will cooperate with and assist Buyer in collecting any such
2� proceeds. Seller shall not settle any insurance claim for damage caused by casualty without the consent of the
259 Buyer.
(b)If, after the Effective Date and be'10
re closing, any part of the Property is taken in condemnation or under the
261 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
N-13 purchasing what is felt of the Property at the agreed upon purchase price and Seller will transfer to the Buyer at
264 closing the proceeds of any award,or Seller's claim to any award payable for the taking. Seller will cooperate with
265 and assist Buyer in collecting any such award.
266-18. ASSIGNABILITY; PERSONS BOUND:This Contract may be assigned to a related entity, and otherwise xj is
26-1-not assignable(_.] is assignable. If this Contract may be assigned, Buyer shall deliver a copy of the assignment
2c,a agreement to the Seller at least 5 days prior to Closing. The terms "Buyer," "Seller"and"Broker"may be singular or
zq plural.This Contract is binding upon Buyer, Seller and their heirs, personal representatives,successors and assigns
2 7 fU (if assignment is permitted),
271 19. MISCELLANEOUS: The'terms of this Contract constitute the entire agreement between Buyer and Seller.
2
;72 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party to be bound.
27,2 Signatures, initials,documents referenced in this Contract,counterparts and written modifications communicated
274 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
276 is or becomes invalid or unenforceable, all remaining provisions will continue to be fully effective.This Contract will be
277 construed tinder Florida law and will not be recorded in any public records,
27a Q.BROKERS: Neither Seller nor Buyer has used the services of,or for any other reason owes compensation to,
2,-,g a licensed real estate Broker other than:
280' (a)Seller's Broker: NONE
281 (Company Name)
282'
283 (Address,Telephraie,Fax,E-rnail)
284* who[i is a single agent E]is a transaction broker,--1 has no brokerage relationship and who will be compensated
285* by' Seller Buyer L'-1 both parties pursuant to{_,_j listing agreement[_J other(specify)
28A, NOT APPLICABLE
28-1* Buy and Seller -i acknowledge receipt of a copy of this page,which is Page 6 of 8 Pages,
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2ea� (b) Buyer's Broker: __..._.,.._. NONE
289 (compirry Name.) (Licensee)
290'
291 (rlrtlemss,'falerrtKA'zr„F'sax e.rrr<aif}
292' who[_his a single agent � 'his a transaction broker has no brokerage relationship and who will be compensated
233° byLl Seller's Broker(.._J SeilerE. Buyer(._I both parties pursuant to`___1 an MLs offer of compens ation(__1 ohe r(speoify)
294' .,...,.. .. ,.....NOT APPLICABLE
295 (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 and Buyer agree to
29r indemnify and hold Broker harmless from and against losses, damages,costs and expenses of any kind, including
2m reasonable attorneys'fees at all levels, and from liability to any person, arising from(1)compensation claimed which is
292 inconsistent with the;representation in this Paragraphs, (2) enforcement action to collect a brokerage fee pursuant to
:goo Paragraph 10, (3)any duty accepted by Broker at the request of Seller or Brayer,which is beyond the scope of
;.9Par services regulated by Chapter 4170, Florida Statutes, as amended,or (4) recommendations of or services provided arid
302 expenses incurred by any third party whom Broker refers, recommends; or retains for or on behalf of Seller or Buyer.
3o3 21. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to
304 this Contract):
30:51 E] Arbitration L_] Seller Warranty Existing Mortgage
:,tr3' �_.,7 Section 1031 Exchange ( ' Coastal Construction Control Line' Buyer's Attorney Approval
307' E] Properly Inspection and Repair [_7 Flood Area Hazard Zone �.__.J Seller's Attorney Approval
308* Seller Representations �� Meller Financing [ '1i Other_.._ Addendum No. 1
ae9ta 22. ADDITIONAL TERMS:
a 1: Tirne is of the essence and shall be strictly applied to all dates here=on
31 t.2., The parties hereto acknowledge that the purchase price is based upon an estimate of land value and
.t2.irrrprovements located upon the property may require extensive repair, restoration, renovations replacement and new
313 construction suitable for aregistered.'"Historic Building." in accordance to city code in order for�the property to be�
at r
utilized for any purpose. IVo war ra��ty of any type os I�rovided b�ti7e seller to the buyer. The buyer has been
313°cautioned by the seller to complete its"crwrjclue diligence investjgation into all matters cancerrsing
the_pro a�erty and
:re
..a Cleanerty locatedat 121 Palmetto Avenue Sanford .Fonda which the su.t�er ct_.of_a US___
,,_..
.1.. _.. s.._.
317, Environmental._ProtectionAgetjcy"SuraerFurlci ccrntarr inat=ci.site.c;le. --__peration . .._.
313 3:._All,terms of to Contract No...1..attached..hereto are incorratwnto and rnade_a�art.c7f_this colitract_.,...
3iw 4..._This c mme ctal.rontr:art inclusive.of_all.exhibits andaddenclurrrs shall_su..rvrue closing or7 tite._ptarchase arid____..._
320•sale of the property.
321 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE
3.7...E 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
;gas EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF TITLE, FOREIGN INVESTOR
ate 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
:32s REPRESENTATIONS (ORAL,WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON SELLER
329 REPRESENTATIONS OR PUBLIC RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF
-io THE REPRESENTATION. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS
:31 AND GOVERNMENL AGENCIES FOR VERIFICATION OF THE PROPERTY CONDITION,SQUARE FOOTAGE
332 AND F CT 4fI T ATE ALLY AFFECT PROPERTY VALUE,
N33µBuy rid Serlec ,.. acknowledge,receipt of a copy of 0iis page,which is Page 7 of 8 Pages.
CC-4 Rev.12.110 �,Y,2 J10 Florida RealforS, Ad RgWs Reserved
reril4':0313489 000146.9627848
331 Each person signing this Contract on behalf of a party that is a business entity represents and warrants to the other
335 party that such signatory has full power and authority to enter into and perform this Contract in accordance with its
3:3c, terms and ea_(7h person executing t Contract arid other documents on behal Of Such party has been duly authorized
337 to do So,-�
in
339 ��6rA�ture of-?- — _. `--IDate:BLJye�)
340, Aria M. Yebba 'Fax ID No:
mi (Fyped or Printed Name of Buyer)
342 Title 'Fetephone:
-title: (407)924-7240
343Date:
2,44 re Buyer)
x",46. da E.Sirica Tax ID No:
340, (Typed or Printed me of Buyer)
347-Title:..-,----,---Buyer Telephone: (407) 927-1319
348-Buyer's Address for purpose of notice: 2018S. Mellonville Avenue, Sanford, FL 32771
24rr°Facsimile: Email: anayebba@msn.com
1501 Date:
mi (Signature of SellerjM
ase Jeff LO�riple . Tax ID No: 85-80126216810-8
3 (Typed or Printed Name of Seller)
'154,Title: Mayor of the City of Sanford, FLTelephone: (407) 688-5012
.36s° __ 01. Date:
356 �=Si n a t u re Wt_S:e�_l e r)
357' Cynthia Porter Tax ID No: 85-8012621680-8
-,3 is (Typed or Printed Name of Seller)
359,Title: City Clerk for the City of Sanford, FL Telephone: (407) 688-5012
3ev Seller's Address for purpose of notice: Attn: Mr. Norton Bonaparte, City Mgr,300 N. Park Ave., Sanford, FL 32771
- (407) 688-5081 Norton.Bonaparte @)Sanf ordf I gov
,361 Facsimile: Email:
'rhe Florida Association of REAL I ORS'fnaktis no representation as to the legal validity of adLquacy of Einy pfov(sion of fts form in any specific uansaotion.This,
Varolardi?.ed forin should fKA be used in comwex transactions or mtli extonsivp riciers or addtt�ons rhis fora is avadaba for use by tho onttre real estate,industry
am I�s not intonded to idenufy Me user as a REALTOR.REALTOR'e5 a ret islered collective,mernbership mark which stay bt?used ortly by rcml estate kensees who
r fl�i7I0Mbc,,rs of 1he NATIONAL ASSOCIATION 01' REALMRS'and%vho subscribe to its Code of Dhim
Tho coppght laws of the UNed States(17 U.S.Codc)forbid Vie unaulhorized reproduction of this f0trn by afly fnFJnfVS tnCiUdiuQ facsirn(le or computertzed forms.
362. Buy and Baiter
j)acknowledge receipt rata copy of this page,which is Page 8 of 8 Pages.
CC-4 Hav,1,2110 ',02010 Honda Roilto(s' All Rights Reserved
SoOd 03648q,000146-9627848
.......... -------
W/11,
Addendum to Contract
Addendum No. to the Contract dated !/_..(j .._�,�Z.._..._....._._.between
City ofSanford,a Florida Municipal rvCcrporat ion.. __ (Seller)
Ana M Yebba & Maria.E. Siric a _......_. (Buyer)
and .._..... ..._ ...._.._.. ........ ....__.._._.. ., .... __.... _....._ .. ----._.,. .__.. __ ____ ..__...__ _.._...__.. ( y )
concerning the property described as: ;113 &..11/ Palmetto Avenue, Sanford, Florida 32771
....
......
.. _. _ ..... _,_._._ _ ._._,........ . _ _._, ..____... _ .._ __ ._,_. ..... _....... _
(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 oil 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 shalt 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 laterthan eighteen (18) months from the date of closing on the purchase and sale
of the property.
4. SELLER'S FIRST RIGHT OF REFUSAL. In the 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 Seller, shall have the sole right and
discretion, in consideration of a portion of the sale price paid by the Guyer to the Seller at closing on the purchase and
sale of the properly, to purchase the property frorn 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 the Seller's election to purchase the property for the same price and terms set forth in the
"qualified"potential purchaser's written offer, not later than forty-five (45)stays from the date, that the Buyer has
delivered to the Seller 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 from any further obligation to sell the property to the Seller 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 NOTAPPLY IN THE TRANSFER OF TITLE TO THE
PROPERTY BETWEEN THE BUYERS AND A RELATED ENTITY, OR PERSON(S).
Buyer: s_/ _..._. Date. .._. .._.
Buyer: � � . . ' _ _._..._..,....._a Date: .._._..' p
Seller: .._o.:�K�'.._ .
_.. __..._... ._.__ __._.. . _ .____..... __. . ._� Date ...._.
_._ ......_
Seller: ....__ . ..._ _....._. ___...._. ,......__. __..__ .__.__. ...____.... .....___._ ..__.._ Date �5 ' g"`
ACSP-3 Hev 10/15 fi 2015 i ICrdda R eaWr„,
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EXHIBIT A Legal Descri
E
3 C CCR£3%S3i �
.ter
-` it s
111%L
,� {{
1 .
4 •^
ff.'s - .:`E TIE'` }
DEESCPUPIIIGr FROM TITLE CGntMINEN l), (RNSED By SURVEYOP)
wtr 11, 12 end 13, Fick 3, 7m, i, of Florkia t,:,d and, �.atani anion Ce.aapcny oared', E. R roffard's Map,of the Town of
rr,t cs Sng fo ttxe aiaF3 tSRe;cc; as r cordo in plot Soap 1, Pares u6 throintluaiva, Public Records of Senr.,.i:a
Ccunty,Flodda, Together with the Fact 2 fee: of vacated Palmetto A-.,2nue lyfng West of and cdracelt thereto.
Less and Ea;.sat the €elownq described parcetg
Begin ing of the Southwest corner of Lot 11, is o k 3, 'He, i a4 slorido Land and ColoniztaUon Ctim a:y!frnited f R. 'Trafford's
Map of the Town of Senterd, crcurdtng to :he fret thereof, es recorded to Plot Bork 1, Pages 56 Through 64,inclusive, Public
Records of SLm'nrde County,Florida, Ume run Narih, clong the'.est iron of sad tet 11, 26.'94 fee's, thence run Narth
53"52`35" Ecst 71.41 feet, thence sura North 00,C-6,44,Eos;9,95 `Get„ ..,encu rue, Sou,:h 89'5S46' East °3.57 feel to o point
e„ f�,e East line of La: 32, Stock 3. Tier % of said Horidc Lost; egad Cofetizalloo Compc;ayUnited E R,Trafford s Map of the
Town a9 Sanford, thence ron South, a3cnq SeW rest Une, >'18,83 feet to the Stw.rtheast corner of sell Lot 11: thence run Bout;;
E9"57'10"W nt 115.05 feet to the"rail+9f 3er.ni^r,
9xs LP
ss the East 2 feet of waccted Polmattc Avenue 11^g West of end cd tent to the LIM and Except descri ed parcel,
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 3.