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Purchase Agreement PROJECT: ADDRESS: FOLIO NO: Neighborhood Stabilization Program 4141 4th Avenue NE 39712480002 PURCHASE AGREEMENT THIS PURCHASE AGREEMENT (hereinafter referred to as the "Agreement") is made and entered into this day of , 2009, by and between SUNCOAST SCHOOLS FEDERAL CREDIT UNION, whose mailing address is PO Box 11904, Tampa, FL 33680 (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 EAST 75 FEET OF THE EAST 150 FEET OF TRACT 25, GOLDEN GATE ESTATES, UNIT NO. 61, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 5, PAGE 86, 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 SIXTY-FIVE THOUSAND FOUR HUNDRED AND NO/100 DOLLARS ($65,400), 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 Purchase Agreement Page 2 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 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 Agreement is governed and construed in accordance with the laws of the State of Florida. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of , 2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED: 4/a/jOQ ATTEST:.: . r. DWI~I+T'E.: BRQ~~Clerk BOARD OF OUNTY COMMISSIONERS COLLIE UNTY, FLORJbA_ 'A-.-..~ ~, $-I/L /J BY: urrr___ ~ Donna Fiala, Chairman .." .1...... OIIt~......./.. <4."; '" .- .,' ,',':' . ,,;:...., AS TO OwNER~ DATED: SUNCOAST SCHOOLS FEDERAL CREDIT UNION By: (Signature) Witness (Signature) Name: (Print or Type) Print Name Witness (Signature) Name: (Print or Type) Title App ved as 0 form and legal su I County Attorney MEMORANDUM Date: April 22, 2009 To: Sue Zimmerman Real Estate Services From: Ann Jennejohn, Deputy Clerk Minutes & Records Department Re: Purchase Agreement with Suncoast Schools Credit Union for the Neighborhood Stabilization Program Property Address: 4141 47th Avenue NE Attached is the original agreement (Agenda Item #10F), referenced above and approved by the Board of County Commissioners on Tuesday, March 24, 2009. After further processing, please return the document to the Minutes and Records Department where it will be held in the Board's records. If you should have any questions, please call me at 252-8406. Thank you. Attachment (I) Thank you.