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Addendum to Purchase Agreement PROJECT: NSP ADDRESS: 3635 60th Ave. NE FOLIO NO: 38788680002 ADDENDUM TO PURCHASE AGREEMENT THIS ADDENDUM to PURCHASE AGREEMENT (hereinafter referred to as the "Agreement") is made and entered into this day of , 2009, by and between INDYMAC FEDERAL BANK, F.S.B., whose mailing address is 7700 West Parmer, Building "0", Austin, Texas, 78729 (hereinafter referred to as "Seller"), and COLLIER COUNTY, a Political Subdivision of the State of Florida, its successors and assigns, whose mailing address is 3301 Tamiami Trail East, Naples, FL 34112 (hereinafter referred to as "Purchaser"); WHEREAS, Seller is the owner of that certain parcel of real property (hereinafter referred to as "Property"), located in Collier County, State of Florida, and being more particularly described as follows: The West 75 Feet of the East 150 Feet of Tract 85, of Golden Gate Estates, Unit No. 41, according to the Plat thereof as recorded in Plat Book 7, at Page 26 of the Public Records of Collier County, Florida WHEREAS, Seller desires to convey the Property "as is" to Purchaser for the stated purposes and Purchaser desires to acquire the Property "as is", on the terms and conditions set forth herein; and WHEREAS, Purchaser has agreed to compensate Owner for conveyance of the Property; NOW THEREFORE, in consideration of these premises, the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged, it is agreed by and between the parties as follows: 1. Seller shall convey the Property to Purchaser via Special Warranty Deed for the sum of Eighty Nine Thousand Two Hundred Fifty Dollars ($89,250) U.S. Currency, payable by County Warrant (said transaction hereinafter referred to as the "Closing"). Said payment shall be full compensation for the Property conveyed, including all landscaping, trees, shrubs, improvements, and fixtures located thereon. This is a cash transaction with no contingencies for financing. 2. The Closing of the transaction shall be held on or before forty-five (45) days following execution of this Agreement by Seller. The Closing shall be held at the Collier County Attorney's Office, Administration Building, 3301 Tamiami Trail East, Naples, Florida. At Closing, Purchaser shall deliver the County Warrant to Seller and Seller shall deliver the fully executed Special Warranty Deed to the Purchaser. Purchaser shall be entitled to full possession of the Property at Closing. 3. Seller shall convey a marketable title free of any liens, encumbrances, exceptions, or qualifications. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar and in accordance with law. 4. Each party shall be responsible for the payment of its own attorney's fees. Seller, at its sole cost and expense, shall pay at Closing all documentary stamp taxes due relating to the recording of the Special Warranty Deed, in accordance with Chapter 201.01, Florida Statutes, and the cost of recording any instruments necessary to clear Seller's title to the Property. The cost of the title commitment and the title policy shall be paid for by the Purchaser. 5. Purchaser shall pay for the cost of recording the Special Warranty Deed. Real Property taxes shall be prorated based on the current year's tax and paid by Seller. If Closing occurs at a date which the current year's millage is not fixed, taxes will be prorated based upon such prior year's millage. 6. Any and all brokerage commissions or fees shall be the sole responsibility of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from and against any claim or liability for commission or fees to any broker or any other person or party claiming to have been engaged by Seller as a real estate broker, salesman or representative, in connection with this Agreement. 7. Conveyance of the Property by Seller is contingent upon no other provisions, conditions, or premises other than those so stated herein; and the written Agreement shall constitute the entire Agreement and understanding of the parties, and there are no Addendum to Purchase Agreement Page 2 other prior or written or oral agreements, undertakings, promises, warranties, or covenants not contained here. 8. This Agreement and the provisions hereof shall be effective as of the date this Agreement is executed by both parties and shall inure to the benefit of and be binding upon both parties hereto and their respective heirs, executors, personal representatives, successors, successor trustees, and/or assignees, whenever the contest so requires or admits. 9. Any amendment to this Agreement shall not bind any of the parties hereof unless such amendment is in writing and executed and dated by Purchaser and Seller. Any amendment to this Agreement shall be binding upon Purchaser and Seller as soon as it has been executed by both parties. 10. No waiver of any provisions of this Agreement shall be effective unless it is in writing signed by the party against whom it is asserted, and any waiver of any provision of this Agreement shall be applicable only to the specific instance to which it is related and shall not be deemed to be a continuing or future waiver as to such provision or a waiver as to any other provision. 11. This Addendum to Purchase Agreement amends and supplements the Contract and, if applicable, escrow instructions. In the event there is any conflict between this Addendum and the Contract or escrow instructions or notice or other documents attached and made a part of the agreement between the parties, the terms of this Addendum take precedence and shall prevail, except as otherwise provided by applicable law. 12. This Agreement is governed and construed in accordance with the laws of the State of Florida. IN WITNESS WHEREOF, the parties hereto have executed this Addendum to Purchase Agreement on this day of , 2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED:" i?~;-I ~DO"l . " ...." ATTEST:' ,. ", " DWIGHT-:F. :BROCK'; ~Ierk :" : " _h~' :::t. <.0 BOARD OF COUNTY COMMISSIONERS COLLIER C9 TY, FL.ORIDAj BY: (j~, ~ Donna Fiala, Chairman " A~'. .1...... ." Addendum to Purchase Agreement Page 3 AS TO OWNER: DATED: INDYMAC FEDERAL BANK, F.S.B. By: Witness (Signature) Name: (Print or Type) Print Name Witness (Signature) Name: (Print or Type) Title rm and