Lot #58 Purchase Agreement
PROJECT: Neighborhood Stabilization Program
PROPERTY: Hallendale Lot 58
FOLIO NO: 48782160000
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT (hereinafter referred to as the "Agreement") is made and
entered into by and between BANK OF NAPLES, a Florida corporation, whose mailing address is
4099 Tamiami Trail, Suite 100, Naples, FL 34103 (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:
Hallendale Lot 58, according to the Plat thereof as recorded in
Plat Book 4, Page 25 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, 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 Twenty-
Nine Thousand, Seven Hundred and no/100 Dollars ($29,700.00), payable by wire transfer
(said transaction hereinafter referred to as the "Closing"). Said payment shall be full
compensation for the Property conveyed. This is a cash transaction with no contingencies for
financing
2. This is vacant property and any requirement for a Lead Based Paint Addendum is waived.
3. The Closing of the transaction shall be held on or before March 19, 2010. At Closing,
Purchaser shall deliver the wire transfer 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.
4. Seller shall convey a marketable fee simple 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.
5. 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. Purchaser
shall pay for the cost of recording the Special Warranty Deed
6. Ad Valorem and Non-Ad Valorem property taxes shall be prorated between Seller and
Purchaser on a 365-day calendar or fiscal year, as appropriate, and shall be based on the
current year's tax. If Closing occurs at a date which the current year's tax is not fixed, taxes will
be prorated based upon such prior year's tax. In determining prorations, the closing date shall
be allocated to Purchaser.
7. 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.
8. 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 herein.
9. 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, andlor assignees, whenever the context so requires or admits
10. Any amendment to this Agreement shall not bind any of the parties hereto 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.
Purchase Agreernent
Page 2
11. 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.
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 Agreement as of the dates set
forth herein below.
Date Property acquisition approved by BCC: October 27,2009, Item 16D8
AS TO PURCHASER
OATED~(481 '2010
ATTEST:
~
I1gqtwe 01",
BOARD OF COUNTY COMMISSIONERS
:~LLlERA:lF~~I~~
Fred W. Coyle, Chairman
AS TO OWNER:
DATED:(YA - C I - /)", , Co
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Wi es~ (Signature)
Name I i~;i~tl~;Ty;e) ?vil.s
BANK OF NAPLES
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Mary Cone, Executive Vice President
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Witness (Signa~re)/
Name.....)-./ ,~._( I ,.. ~ .;<l71t..
(Print or Type)
Approved as to form and
legal sufficiency:
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Jennife White
Assistant County Attorney