Agenda 01/12/2010 Item #16B 2
Agenda Item No. 16B2
January 12, 2010
Page 1 of 19
EXECUTIVE SUMMARY
.-
Recommendation to approve the purchase of 5 acres of unimproved property which is required for
the construction of a stormwater retention and treatment pond for Phase I of the Vanderbilt Beach
Road Extension Project. Project No. 60168, Phase I (Fiscal Impact: $181,400.00).
OBJECTIVE: To obtain the Board of COWlty Commissioners' approval to purchase Wlimproved property
which is required for the construction of a stormwater retention and treatment pond associated with Phase I
of the Vanderbilt Beach Road Extension project (Project No. 60168).
CONSIDERATIONS: The subject property (all of Dnit 7, Tract 15, Golden Gate Estates) contains a total
of 5 unimproved acres and is located on 23'd Street NW. (See attached Location Map.) The north half of
the parcel is required for the construction of a stormwater retention and treatment pond associated with
Phase I of the Vanderbilt Beach Road Extension project. Using the most recent sales data from the real
estate market the Division of Transportation's Review Appraiser, Harry Henderson, SRA, prepared an
appraisal of the property estimating its current market value at $ I 50,000 ($30,000 per acre). The COWlty
Appraiser assessed the property for the latest 2009 assessment at $275,000.
-
On April 7, 2009, Collier County Transportation Division invited the owner, Louise Taylor, to discuss the
sale of the subject property to the COWlty. On October 8, 2009, the owner replied, by way of her legal
cOWlSel, that she would sell the subject property to the COWlty, but only if we purchase the entire parcel for
the sum of $215,000 (equivalent to $43,000 per acre or $60,000 less than its assessed value). Through
continued negotiations, the owner has agreed to convey the property for a purchase price of $175,000
(equivalent to $35,000 per acre or $100,000 less than its assessed value).
Differences between market values and assessed values are quite common (especially in Golden Gate
Estates) since assessed values are based upon sales which occurred between 12 and 22 months prior to the
certification of the ad valorem tax rolls. Even though the assessed values were lowered in 2008 and again in
2009, market values continue to drop, influenced heavily by foreclosures and distress sales. Accordingly,
the "market value" of any property, as indicated by the most recent sale prices of similar properties, may be
far above or far Wlder its (me value at any given point in time, depending upon what is happening in the
overall market for similar properties. For instance, the current real estate market is dominated by
foreclosures and distress sales; yet just a few years ago it was dominated by investment speculation.
This wide divergence between market values and assessed values complicates the negotiations for the
proposed right-of-way, because it is a common expectation of property owners upon the sale of their
property to the government, to be paid at least the value upon which they were taxed by the government.
Staff is recommending that the Board of County Commissioners purchase the subject property from Ms.
Taylor for $175,000 which is $20,000 above our current appraisal and $100,000 below the Collier
Appraiser's 2009 assessment, and believes the following are compelling reasons to do so:
This is not a distress sale. Ms. Taylor can afford to wait for the market to improve.
It is not likely that the market value is going to decrease any further at this point; and while most experts
- believe it could take between 5 and 7 years for the market to fully rebound, if the COWlty waits that long to
purchase these pond sites, we are likely going to be paying as much or more for the subject property as Ms.
Taylor is seeking today.
,.,,<,---_.,,"--,.,
.,",~'," ""-~.. ".
",,...,..- ".--<,<.
Agenda Item No. 1682
January 12, 2010
Page 2 of 19
Ms. Taylor would like to sell the property; and if sold to someone else, it is possible that the new owners
would build on it. Vacant property immediately adjacent to the roadway corridor and large enough in size to
accommodate a stormwater retention and treatment pond is relatively scarce in the subject area.
The south half of the parcel can be utilized by the County for other purposes or sold as surplus (thereby
recouping some of the expenditure).
FISCAL IMPACT: The fiscal impact is in the amount of $181,400.00 and includes the $175,000.00
negotiated purchase price; title search and title insurance in the approximate amount of $1,300.00;
attorney's fees in the amount of $4,550.00; appraisal review fees in the amount of $500.00 and recording
fees not to exceed $50. Source of funds are road impact fees and gas taxes.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this
Executive Summary.
LEGAL CONSIDERATIONS: This item has been reviewed and approved by the County Attorney's
Office and is legally sufficient-JBW.
RECOMMENDA TION: Recommendation is for the Board of County Commissioners of Collier County,
Florida to:
,'"'0--
1. Approve the attached Purchase Agreement and authorize its Chairman to execute same on behalf of the
Board;
2. Accept the conveyance of the subject property (all of Unit 7, Tract 15, Golden Gate Estates) via
warranty deed and authorize the County Manager, or his designee, to record same in the public records
of Collier County, Florida;
3. Authorize the payment of all costs and expenses necessary to close the transaction;
4. Authorize the County Manager, or his designee, to take the necessary measures to ensure the County's
performance in accordance with the terms and conditions of the Agreement; and
5. Approve any and all budget amendments which may be required to carry out the collective will of the
Board.
Prepared by: Michelle 1. Sweet, Property Acquisition Specialist, Transportation Engineering &
Construction Management
Attachments: (I) Purchase Agreement; (2) Location Map; (3) Appraisal
,.,....
Agenda Item No. 16B2
January 12. 2010
Page 3 of 19
-
COLLIER COUNTY
BOARD OF COUN1Y COMMISSIONERS
Item Number:
Item Summary:
16B2
Recommendation to approve the purchase of 5 acres of unimproved property which is
required for the construction of a stormwater retention and treatment pond for Phase I of the
Vanderbilt Beach Road Extension Project. Project No. 60168, Phase I (Fiscal Impact:
$181,400.00).
1/12/20109:00:00 AM
Meeting Date:
Approved By
Lisa Taylor Management/Budget Analyst Date
Transportation Division Transportation Administration 12/2/2009 1 :49 PM
Approved By
Jennifer White Assistant County Attorney Date
County Attorney County Attorney 12/2/20092:39 PM
Approved By
Jeff Klatzkow County Attorney Date
12/2/2009 2:48 PM
-, Approved By
Therese Stanley Manager - Operations Support - Trans Date
Transportation Division Transportation Administration 12/2/20093:56 PM
Approved By
Norm E. Feder, AICP Administrator - Transportation Date
Transportation Division Transportation Administration 12/3/200912:50 PM
Approved By
Najeh Ahmad Director - Transportation Engineering Date
Transportation Engineering &
Transportation Division Construction Management 12/4/20091:11 PM
Approved By
Debbie Armstrong Project Manager Date
Transportation Engineering &
Transportation Division Construction Management 12/7/200911:15 AM
Approved By
Kevin Hendricks Manager ~ Right of Way Date
Transportation Division Transportation Engineering & 12/9/2009 10:47 AM
Construction Management
._-
Approved By
Gary Putaansuu Project Manager, Principal Date
--,.~'-
-'-~""""''''''. ,
-~""-_._-"'~' ,
--
Agenda Item No. 16B2
January 12. 2010
Page 4 of 19
Transportation Division
Transportation Engineering &
Construction Management
12/21/20099:51 AM
Approved By
Pat Lehnhard
Executive Secretary
Date
Transportation Division
Transportation Administration
12/21/200910:01 AM
Approved By
OMS Coordinator
Date
County Manager's Office
Office of Management & Budget
12/22/2009 1 :52 PM
Approved By
Susan Usher
Management/Budget Analyst, Senior
Date
Office of Management &
Budget
Office of Management & Budget
1/5/20103:58 PM
Approved By
Mark Isackson
Management/Budget Analyst, Senior
Date
Office of Management &
Budget
Office of Management & Budget
1/5/20104:59 PM
Agenda Item No. 1682
January 12. 2010
Page 5 of 19
-
PROJECT:
PARCEL:
FOLIO NO.:
60168 - Vanderbilt Beach Road Extension
POND2F - Taylor
36911000008
PURCHASE AGREEMENT
(for Stormwater Retention Pond Sites)
THIS PURCHASE AGREEMENT is made and entered into on this day
of , 2009, by and between LOUISE V. TAYLOR, individually and
as Trustee of Louise V. Taylor Revocable Living Trust under agreement therefor dated
as of September 16, 1987, whose mailing address is 5471 SW 11th Street, Apt. H,
Margate, FL 33068,3385, (hereinafter referred to as "Seller'), and COLLIER COUNTY,
a political subdivision of the State of Florida, whose mailing address is 3301 Tamiami
Trail East, Naples, Florida 34112, (hereinafter referred to as "Purchaser").
WHEREAS, Seller owns that certain property more particularly described as all
of Tract 15, Golden Gate Estates, Unij 7, according to the plat thereof as recorded in
Plat Book 4, at Page 95, Public Records of Collier County, Florida, together with all
structures and improvements, (hereinafter referred to as "Property"); and
WHEREAS, Purchaser requires the Property for stormwater retention purposes as
part of the Vanderbilt Beach Road Extension Project; and
WHEREAS, Seller has agreed to sell and Purchaser has agreed to buy the
Property subject to the terms and conditions that follow.
"'~-"
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. AGREEMENT
In consideration of the purchase price and upon the terms and conditions hereinafter
set forth, Seller shall sell to Purchaser and Purchaser shall purchase from Seller the
Property.
2. PURCHASE PRICE
The purchase price (the "Purchase Price") for the Property shall be $175,000.00 (U.S.
Currency) payable at time of closing. In addition, the Purchaser shall pay Seller's
attorneys fees to Roetzel and Andress, LPA in the sum of $4,550.00 and appraiser fees
to Maxwell & Henry Valuation Services, Inc. in the sum of $500.00. The Purchase
Price, subject to the apportionment and distribution of proceeds pursuant to Paragraph
3D of this Agreement, shall be full compensation for the Property conveyed, including
all landscaping, trees, shrubs, improvements, and fixtures located thereon, and shall be
in full and final settlement of any and all claims against the Purchaser, including all
expert witness fees and costs as provided for in Chapter 73, Florida Statutes. None of
this Purchase Price is attributed to any personal property.
3.
CLOSING
-
A. TIME IS OF THE ESSENCE. Therefore, the Closing (THE "CLOSING
DATE", "DATE OF CLOSING", OR "CLOSING") of the transaction shall be held on
or before ninety (90) days following execution of this Agreement by the Purchaser
unless extended by mutual written agreement of the parties hereto. The Closing
shall be held at the Collier County Attorney's Office. Administration Building, 3301
Tamiami Trail East, Naples, Florida. Purchaser shall be entitied to possession as
of Closing, unless otherwise provided herein.
--'----~-, .~
-.-..,-
'-"___'___"_C'_____..___"".
. ,-_... ~~~_.
,0,/
~//
. "
.
. ,
..,0"'/
/
"
Agenda Item No. 1682
January 12. 2010
Page 6 of 19
B. 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.
At or prior to Closing, Seller shall provide Purchaser with a copy of any existing
prior title insurance policies. At or before the Closing, the Seller shall cause to be
delivered to the Purchaser the items specified herein and the following documents
and instruments duly executed and acknowledged, in recordable form:
1. General Warranty Deed in favor of Purchaser conveying title to the
Property, free and clear of all liens and encumbrances other than:
(a) The lien for current taxes and assessments.
(b) Such other easements, restrictions or conditions of record.
2. Combined Purchaser,Seller closing statement
3. A "Grantor's Non,Foreign, Taxpayer Identification & "Gap" Affidavit" as
required by Section 1445 of the Internal Revenue Code and as required
by the title insurance underwriter in order to insure the "gap" and issue the
policy contemplated by the title insurance commitment
4. A W,g Form, "Request for Taxpayer Identification and Certification" as
required by the Internal Revenue Service.
5. Such evidence of authority and capacity of Seller and its representatives
to execute and deliver this Agreement and all other documents required to
consummate this transaction, as reasonably determined by Purchaser's
counsel and/or title company.
C. At the Closing, the Purchaser. or its assignee. shall cause to be delivered to
the Seller the following:
1. A negotiable instrument in an amount equal to Net Cash to Seller on the
Closing Statement No funds shall be disbursed to Seller until the Title
Company verifies that the state of the title to the Property has not
changed adversely since the date of the last endorsement to the
commitment, referenced in Section 6 "Requirements and Conditions for
Closing" below, and the Title Company is irrevocably committed to pay the
Purchase Price to Seller and to issue the Owner's title policy to Purchaser
in accordance with the commitment immediately after the recording of the
deed.
2. Funds payable to the Seller representing the Purchase Price shall be
subject to adjustments and pro,rations as hereinafter set forth.
D. Purchaser shall pay all fees to record any curative instruments required to
clear title, all Warranty Deed recording fees. and any and all costs and/or fees
associated with securing and recording a Release or Subordination of any
mortgage, lien or other encumbrance recorded against the Property; provided,
however, that any apportionment and distribution of the full compensation amount
in Section 2 which may be required by any mortgagee. lien, holder or other
encumbrance-holder for the protection of it~ secl'rity interest, or as consideration
due to any diminution in the value of its property right, shall be the responsibility of
the Seller, and shall be deducted on the Closing Statement from the compensation
payable to the Seller per Section 2.
E. Seller, at its sole cost and expense, shall pay at Closing all documentary
stamp taxes due upon the recording of the General Warranty Deed, in accordance
with Chapter 201, Florida Statutes, unless the Property is acquired under threat of
condemnation. The cost of a Title Commitment shall be paid by Purchaser along
Page No.2
,>0~ /
,c//
... ,
't
,0
'.
,
Agenda Item No. 1682
January 12. 2010
Page 7 of 19
-
with the cost of an Owner's Form B Tille Policy, issued pursuant to the
Commitment provided for in Section 6, "Requirements and Conditions" (below).
F. Real Property taxes shall be prorated based on the current year's tax and
paid by Seller. If Closing occurs at a date upon which the current year's millage is
not fixed, taxes will be prorated based upon the prior year's millage.
4. INSPECTIONS
A !ru;pection Period. Purchaser shall have 60 days from the Effective Date
(inspection Period) to determine through appropriate investigation and inspection
that the Property is in compliance with all applicable State and Federal
environmental laws and free of any Hazardous Materials. Upon reasonable
notice, Seller will provide Purchaser, and its agents, with access to the Property for
purposes of surveying, soil borings, site inspection and analysis.
B. Election and Response. If Purchaser is not satisfied, for any reason, with the
results of this investigation, Purchaser may elect to terminate this Agreement,
without penalty, by giving written notice of its intent to terminate prior to expiration
of the Inspection Period. Purchaser may elect to suspend its Notice of
Termination if Seller notifies Purchaser in writing within ten (10) days thereafter
that Seller agrees to promptly carry out, at its sole expense, all further
investigations and remediation of the Property as necessary to make the Property
acceptable to Purchaser (hereinafter "Remedial Action") within a time period
acceptable to Purchaser. As a condition precedent for suspension of the Notice
of Termination, the parties shall agree to the specific term of such suspension and
what will render the Property acceptable to Purchaser.
C. "Hazardous Materials" means any substance: (1) the presence of which
requires investigation, remediation, or is, or becomes regulated under any federal.
state, or locai law, regulation, order or policy; or (2) which is or becomes defined
as a hazardous substance, pollutant or contaminant under federal, state or local
law or regulation; or (3) which is toxic, explosive, corrosive, flammable, infectious,
radioactive, carcinogenic, mutagenic or otherwise hazardous, or threatens the
health or safety of persons on or about the Property, and is being regulated by any
governmental authority in the state of Florida.
D. If Purchaser does not have the Property inspected, or fails to do so within the
Inspection Period, or fails to notify Seller of its intent to terminate, Purchaser shall
be deemed to have accepted the Property in the condition it existed on the
Effective Date.
5. RISK OF LOSS
Seller shall maintain the Property in the condition existing on the Effective Date until
Closing or date of Purchaser's possession, whichever is later, except for any Remedial
Action agreed to by Seller under Section 48 above. Any future loss and/or damage to
the Property between the Effective Date and the Closing or date of Purchaser's
possession, whichever is earlier, shall be at Seller's sole fisk and expense.
6. REQUIREMENTS AND CONDITIONS FOR CLOSING
Upon execution of this Agreement by both parties or at such other time as specified
wijhin this Section, Purchaser and/or Seller, as the case may be, shall perform the
following within the times stated, which shall be conditions precedent to the Closing:
-'~~"
A Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an AL TA Commitment for an Owner's Tille Insurance Policy
(AL TA Form 8,1970) covering the Property, together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following receipt
of the title insurance commitment, to notify Seller in writing of any objection to title
other than liens evidencing monetary obligations, if any, which obligations shall be
Page No, 3
---.,--.----... -
'-"'^'.."--,,,. .-._----.
---"--."",--,-",,,,'..'...
';l~'2/
'l.;,..~
~
.' .
."
/
Agenda Item No. 1682
January 12. 2010
Page 8 of 19
paid at closing. If the title commitment contains exceptions that make the title
unmarketable, Purchaser shall deliver to the Seller written notice of its intention to
waive the applicable contingencies or to terminate this Agreement.
B. If Purchaser shall fail to advise the Seller in writing of any such objections in
Seller's title in the manner herein required by this Agreement, the title shall be
deemed acceptable. Upon notification of Purchaser's objection to title, Seller shall
have thirty (30) days to remedy any defects in order to convey good and
marketable title. except for liens or monetary obligations which will be satisfied at
Closing. Seller, at its sole expense, shall use its best efforts to make such title
good and marketable. In the event Seller is unable to cure said objections within
said time period, Purchaser, by providing written notice to Seller within seven (7)
days after expiration of said thirty (30) day period, may accept title as it then is,
waiving any objection. or may terminate the Agreement.
C. Seller agrees to furnish any existing surveys of the Property in Seller's
possession to Purchaser within 10 (ten) days of the Effective Date of this
Agreement Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florida. No adjustments to the Purchase Price shall be made based upon any
change to the total acreage unless the difference in acreage revealed by survey
exceeds 5% of the overall acreage. If the survey provided by Seller or obtained by
Purchaser, as certified by a registered Florida surveyor, shows: (a) an
encroachment onto the property; or (b) that an improvement located on the
Property projects onto lands of others, or (c) lack of legal access to a public
roadway. the Purchaser shall notify the Seller in writing, within sixty (60) days from
the Effective Date of this Agreement, of such encroachment. projection, or lack of
legal access, and Seller shall have the option of curing said encroachment or
projection, or obtaining legal access to the Property from a public roadway. Should
Seller elect not to or be unable to remove the encroachment, projection. or provide
legal access to the property Within sixty (60) days, Purchaser may accept the
Property as it then is, waiving any objection to the encroachment, or projection, or
lack of legal access, or Purchaser may terminate the Agreement, by providing
written notice to Selier within seven (7) days after expiration of said sixty (60) day
period. A failure by Purchaser to give such written notice of termination within the
time period provided herein shall be deemed an election by Purchaser to accept
the Property with the encroachment, or projection, or lack of legal access.
7. TERMINATION AND REMEDIES
A. If Seller shall have failed to perform any of the covenants and promises
contained herein, which are to be performed by Seller. within fifteen (15) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Agreement
B. If the Purchaser has not terminated this Agreement pursuant to any of the
provisions authorizing such termination, and Purchaser fails to close the
transaction contemplated hereby or otherwise fails to perform any of the terms,
covenants and conditions of this Agreement as required on the part of Purchaser
to be performed. provided Seller is not in default. then as Seller's sole remedy,
Seller shall have the right to terminate and cancel this Agreement by giving written
notice thereof to Purchaser which shall be Seller's sole and exclusive remedy, and
neither party shall have any further liability or obligation to the other except as set
forth in Section 10, Real Estate Brokers, hereof.
C. The parties acknowledge that the remedies described herein and in the other
provisions of this Agreement provide mutually satisfactory and sufficient remedies
to each of the parties, and take into account the peculiar risks and expenses of
each of the parties.
Page NO.4
~~..'
,~7
l>
y--
.,'0/
/
-
-
-
.--'-_.'-,,-~
Agenda Item No. 1682
January 12, 2010
Page 9 of 19
8. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES
Seller intends for Purchaser to rely on the representations contained in this Section in
entering into this Agreement and warrants the following:
A. Seller has full right and authority to enter into and to execute this Agreement
and to undertake all actions and to perform all tasks required of each hereunder.
Seller is not presently the subject of a pending, threatened or contemplated
bankruptcy proceeding.
B. Seller has full right, power, and authority to own and operate the Property,
and to execute, deliver, and perform its obligations under this Agreement and the
instruments executed in connection herewith, and to consummate the transaction
contemplated hereby. All necessary authorizations and approvals have been
obtained authorizing Seller and Purchaser to execute and consummate the
transaction contemplated hereby. At Closing, certified copies of such approvals
shall be delivered to Purchaser and/or Seller, if requested.
C. The warranties set forth in this Article are true on the Effective Date of this
Agreement and as of the date of Closing. Purchaser's acceptance of a deed to
the said Property shall not be deemed to be full performance and discharge of
every agreement and obligation on the part of the Seller to be performed pursuant
to the provisions of this Agreement
D. Seller and Purchaser agree to do all things which may be required to give
effect to this Agreement immediately as such requirement is made known to them
or they are requested to do so, whichever is the earlier.
E. Seller represents that it has no knowledge of any actions, suijs, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arMration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other property
that could, if continued, adversely affect Seller's ability to sell the Property to
Purchaser according to the terms of this Agreement
F. No party or person other than Purchaser has any right or option to acquire
the Property or any portion thereof.
G. Until the date fixed for Closing or as long as this Agreement remains in force
and effect, Seller shall not encumber or convey any portion of the Property or any
rights therein, nor enter into any agreements granting any person or enmy any
rights wijh respect to the Property or any part thereof, without first obtaining the
written consent of Purchaser to such conveyance, encumbrance, Of agreement
which consent may be withheld by Purchaser for any reason whatsoever.
H. Seller represents that they have (it has) no knowledge that any pollutants are
or have been discharged from the Property, directly or indirectly into any body of
water. Seller represents the Property has not been used for the production,
handling, storage, transportation, manufacture or disposal of Hazardous Materials
as defined herein, or any other activity that would have toxic results, and no such
Hazardous Materials are currently used in connection with the operation of the
Property, and there is no proceeding or inquiry by any authority with respect
thereto. Seller represents that they have (it has) no knowledge that there is ground
water contamination on the Property or potential of ground water contamination
from neighboring properties. Seller represents no storage tanks for gasoline or
any other Hazardous Materials are or were located on the Property at any time
during or prior to Seller's ownership thereof. Seller represents none of the
Property has been used as a sanitary landfill.
I. Seller has no knowledge that the Property, and/or that Seller's operations
concerning the Property, are in violation of any applicable Federal, State or local
Page No 5
.----,.-'''''..-.
. '''''"._,,-,~,,_.
'Sle.~ /
......Q,.
~...
''':~'''//
/
.,----
Agenda Item No. 1682
January 12. 2010
Page 10 of 19
statute, law or regulation. or of any notice from any governmental body has been
served upon Seller claiming any violation of any law, ordinance, code or
regulation or requiring or calling attention to the need for any work, repairs,
construction, alterations or installation on or in connection with the Property in
order to comply with any laws, ordinances, codes or regulation with which Seller
has not complied.
J. There are no unrecorded restrictions, easements or rights of way (other than
existing zoning regulations) that restrict or affect the use of the Property, and there
are no maintenance, construction, advertising, management, leasing, employment,
service or other contracts affecting the Property.
K. Seller has no knowledge that there are any suits, actions or arbitration, bond
issuances or proposals therefore, proposals for public improvement assessments,
pay,back agreements, paving agreements, road expansion or improvement
agreements, utility moratoriums, use moratoriums, improvement moratoriums,
administrative or other proceedings or governmental investigations or
requirements, formal or informal, existing or pending or threatened which affects
the Property or which adversely affects Seller's ability to periorm hereunder; nor is
there any other charge or expense upon or related to the Property which has not
been disclosed to Purchaser in writing prior to the Effective Date of this
Agreement
L Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated herein and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effective date of this Agreement
up to and including the date of Closing. Therefore, Seller agrees not to enter into
any contracts or agreements pertaining to or affecting the Property and not to do
any act or omit to periorm any act which would change the zoning or physical
condition of the Property or the governmental ordinances or laws governing same.
Seller also agrees to notify Purchaser promptly of any change in the facts
contained in the foregoing representations and of any notice or proposed change
in the zoning, or any other action or notice, that may be proposed or promulgated
by any third parties or any governmental authorities having jurisdiction of the
development of the property which may restrict or change any other condition of
the Property.
M. Seller represents, warrants and agrees to indemnify, reimburse, defend and
hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to or in connection With the application of any federal, state, local or
common law relating to pollution or protection of the environment which shall be in
accordance with, but not limited to, the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601, et seq.,
("CERCLA" or "Superiund"), which was amended and upgraded by the Superiund
Amendment and Reauthorization Act of 1986 ("SARA"), including any
amendments or successor in function to these acts. This provision and the rights
of Purchaser, hereunder, shall survive Closing and are not deemed satisfied by
conveyance of title.
9. NOTICES
Any notice, request, demand, instruction or other communication to be given to either
party hereunder shall be in writing sent by facsimile with automated confirmation of
receipt or registered or certified mail, return receipt requested, postage prepaid or
personal delivery addressed as follows:
If to Purchaser:
Transportation Engineering & Construction Management
Attn: Kevin Hendricks
Right.of,Way Acquisition Manager
2885 South Horseshoe Drive
Page NO.6
"",,,,, /
, 'Y
,~
,:.>/
,0 ~
/
,
,
Agenda Item No. 1682
January 12, 2010
Page 11 of 19
-
Naples, Florida 34104
Telephone 239-252,8192
Fax 239-530,6643
With a copy to:
Collier County Attorney
Office of the County Attorney
Harmon Tumer Buildin9
3301 Tamiami Trail East
Naples, Florida 34112
Telephone 239,774,8400
Fax 239-774,0225
If to Seller:
Louise V. Ta~lor
5471 SW 11 Street, Apt H
Margate, FL 33068,3385
Telephone:
Fax
With a copy to:
Kenneth A. Jones, Esq.
Roetzel & Andress, LP A
2320 First Street, Suite 1000
Fort Myers, FL 33901,2904
Telephone: 239,337,3850
Fax: 239,337,0970
--~,
The addressees, addresses and numbers for the purpose of this Section may be
changed by either party by giving written notice of such change to the other party in the
manner provided herein. For the purpose of changing such addressees, addresses
and numbers only, unless and until such written notice is received, the last addressee
and respective address stated herein shall be deemed to continue in effect for all
purposes. Notice shall be deemed given in compliance with this Section upon receipt
of automated fax confirmation or upon on the fifth day after the certified or registered
mail has been postmarked, or physical receipt by hand delivery.
10. REAL ESTATE BROKERS
Any and all brokerage commissions or fees shall be the sole responsibility of the Seller
and shall be paid at Closing. Seller shall indemnify Purchaser from and against any
claim or liability for commission or fees to any broker or any other person or party
claiming to have been a procuring clause or engaged by Seller as a real estate broker,
salesman or representative, in connection with this Agreement.
11. MISCELLANEOUS
A. This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
B. This Agreement and the terms and provisions hereof shall be effective as of
the Effective Date and shall inure to the benefit of and be binding upon the parties
hereto and their respective heirs, executors, personal representatives, successors,
successor trustee, and assignees whenever the context so requires or admits.
C. 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.
D. Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend or
limit the scope or intent of this Agreement or any provisions hereof.
E. All terms and words used in this Agreement, regardless of the number and
Page No. 7 'S10\t~~..//
"
'V
...1>....../
,
/
. -_.,,_._--,~..
''''_''-~.~'_'''' '-.-....
Agenda Item No. 16B2
January 12, 2010
Page 12 of 19
gender in which used, shall be deemed to include any other gender or number as
the context or the use thereof may require.
F. No waiver of any provision 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 ij 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,
G. If any date specified in this Agreement falls on a Saturday, Sunday or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
H. If the Seller holds the Property in the form of a partnership, limited
partnership, corporation, trust or any form of representative capacity whatsoever
for others, Seller shall make a written public disclosure, according to s. 286.23,
Fla. Stat., under oath, of the name and address of every person having a
beneficial interest in the Property before Property held in such capacity is
conveyed to Collier County. (If the corporation is registered with the Federal
Securities Exchange Commission or registered pursuant to Chapter 517, Florida
Statutes, whose stock is for sale to the general public, it is hereby exempt from the
provisions of Chapter 286, Florida Statutes.)
I. This Agreement is governed and construed in accordance with the laws of
the State of Florida.
J. The Effective Date of this Agreement will be the date of execution of this
Agreement by the last signing party.
K. This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and there are no promises, representations,
warranties or covenants by or between the parties not included in this Agreement.
No modification or amendment of this Agreement shall be of any force or effect
unless made in writing and executed and dated by both Purchaser and Seller.
L TIME IS OF THE ESSENCE to this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date first above written.
AS TO PURCHASER:
DATED:
ATTEST:
DWIGHT E. BROCK, Clerk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
BY:
Deputy Clerk
DONNA FIALA, Chairman
Page No.8
>>60/
..~
. .
""
\D
/
_..
_.
--- -- -'-'.._-~'---'--
-'.,-,,--,--,--,-- .-_..,-,"._-,-,--,--, --. ---- '---
AS TO SELLER:
DATED:
I! h Icy
,
WITNESSES:
1
,
" (Signature)
, f,,1- \1, 1"\.,,,
(Printed Name)
Ju",,-.L/cdv.,/,.<--
I (Signatu(e).
!r e lie rq 5 frY"
(Printed Name)
Approved as to form and
legal sufficiency:
~ ~~\~'-'-
Assistant ounty Attorney
Last Revls&d: 02119109
----"----,-.'--.,-"''',,..
LOUISE V. TAYLOR REVOCABLE
LIVING TRUST, ula 9/16/87
By (<72",('( V 0<-; /j
LOUISE V. TAYLOR, ()
Individually and as Trustee
Agenda Item No. 1682
January 12, 2010
Page 13 of 19
Page No.9
~!?Jc../'"
,"
;'1<t.,-
C,.. /'
, .'
~
/
-----,~-_._'---"-
LAND APPRAISAL REPORT
Predominant Occupancy
Shgle Family Price Range
Single Family Aile
LSjSuburban i---"Rural
~ 25% to 75% [J Under 25%
DSleady [FjSlow
[:Slable ~Declining
C}lnBalance [SJOversupply
D4-6Mos. [~Over6Mos.
_% ADts, _% Condo_% Commercial
10% Golf Course
[SJ Likely (*) l~ Taking Place (*)
To sinQle-family
%Vacalll
Predominant Value $ 190,000
Predominant Age 12 yrs.
Urban
o Over 75%
CFullyDev, CRapid
[]Increasing
DShortage
o Under 3 Mos.
....&Q% 1 FamHy _% 2-4 family
_% Industrial~% Vacant
Change in Present Land Use DNotlikely
(*)From vacant
LJ Owner [J Tenant
$ 110,000 to $ 550,000
1 yrs. to 40 yrs,
IM'''Fi~~O. 1682
FUo po,:~nuary 12. 2010
Map Reference S6-T49 R27 4 of 19
Census Tract 112.02
State FL
Zip Code 34120
EmploymentSlability
Convenience to Employmenl
Convenience to Shopping
Convenience 10 Schools
AdeQuacy oi Public Transportation
Recreational Facilities
AdequacyoiUtilities
Property Compatibility
Protection from Detrimerrtal Conditions
Poiice and Fire Proleclion
General Appearance of Proper1ies
iltppea!lo Market
Commerrts including those faclors, favorable or unfavorable, affectng marketability (e.g public parks, schools, view. noise):See attached addenda.
Borrower Taylor. L
Property Address W IS of 23rd Street NW
City Naples CourTly Collier
legal Description Golden Gate Estates Unit 7 Tract 15 OR 1..459 PG 1808.1810
Safe Price $ N/A Date of Sale N/A Loan Term N/A yrs Properly Rights Appraised [8J Fee L: Leasehokl C De Minimis PUD
Actual Real Estate Taxes $ 4,014.09 (yr) Loan charges to be paid by seller $ N/A Other sales concessions NlA
Lender/Client Collier County Govrrransportation Division Address 2885 South Horseshoe Drive, Na les FL 34104
Occupanf vacant Appraiser Harry Henderson SRA Instructions to AppraiserEstimate Market Value Parent TracUFull Take
Folio #36911000008
Location
Built Up
Growth Rale
Property Values
Demand/SU+JPIy
Marketing Time
Present land Use
Dimensions 660 x irreQular 5.12 SQ. Fl. or Acres I I Corner Lot
Zoning classification Estates (225 acre conforming lot size min.) Present Improvements [N] do [AJ do not conform 10 zoning regulations
Highest and best use C Present use l8J Other (sP~f~YJ eventual single-family developmeEl.t
Public Other (Describe) I Off SITE IMPROVEMENTS ITopo Level
XJ Street Access cs;] Public C Private Size Com atible with area
LJ Surtace Macadam Shape Rectan ular
D I Maintenance ~ Public ~] Private View Natural-canal
D D Storm Sewer [J Curb/Gutter Drainage A ears to be ade uate
fJ Underground Elect. & Tel!_Didel'!~lk L StreetJight~.Jls fhe property loealed 1118 HUO tdentlfied Special Flood Hazard Area? ~ No! 'Yes
CllrMlents ~avorable or unfavorable Includirlg any apparent adverse easements, encroachments, or oIl1er adverse conditions): Zone D Comm#120067C0250G dtd 11/17/05
No adverse conditions observed. The sub'ect lands are assumed to have an uland/wetland rofile which would allow sin Ie-fa mil develo ment
as allowed b zonin without at ical ermlllin and/or miti ation, Note that the norther! side of the sub'ect arent tract is encumbered b a
canal easement, other ical roadwa and erimeter utili! easements also exist.
T~ undersigned has recited three recent sales of properties most similar and proximate to subject and has conSidered trtese In tile market analysis, The deSCrIption includes a dollar
~ustment re1letbng markf!t reaction to those items of Significant variation between the subject and comparable properties H a Significant item in the comparable property is superior
to or more tavorable than the subject property, a minus (-) adjustment is made thus reducing the indicated value 01 subject; if a slgnHicant item in the comparable Is mterior to or less
favorable lhan the sUbjeclproperty,a plus (+) adjustmenl is made thus inc reasing1he indicaled value 01 Ihe subject
fTEM SUBJECT PROPERTY COMPARA8LF NO.1 COMPARABLE NO.2
Address WIS of 23rd Street NW 3641 7th Avenue SW 781 19th Street NW
Na les FL 34120 Na les, FL 34117 Na les FL 34117
Plmim' 10 Sub'ect 2.55 miles SW 049 miles E
Sales Price NIA I 31007/ac
Price Gross S $ 80,000
Data Source MLS#209008624
Date of Sale and DESCRIPTION DE.~CRIPTION
Time Adjustment NIA 2109
Locatitln GGE Similar
SitelVlew 5 12 acres 2 58 acres
To ra Levellnatural Levellnaturat
Zoni Estates Estates
''''.
Gas
W,Ier
San, Sewer
Good Avg, Fair Poor
DDIi'JD
DI8JDD
DI8JDD
DI8JDD
[J Ii'J 0 [J
DI8JDD
DL':CJDD
DI8JDD
DL':CJDD
DL':CJDD
JL':CJDD
DL':CJDD
COMPARABLE NO, 3
2050 39th Street SW
Na les FL34117
4.02 miles SW
14000/ac
35,000
311321ac
82500
MLS#209017308
DESCRipJION
6/09
MLS#20B0312BO
DESCRIPTION
3/09
.. ~
Similar
2.50 acres
Level/natural
Estates
,
,
~
in$/ac
Sales or Financing NJA
Concessions
NetM. ota
IndicaledValue
of Subject
Comments on Market Data:
Cash or Equiv.
Cash or Equiv.
1-1+ i
$
+ r-l
,"
.
$
31,007
See attached addenda.
in$/ac
Similar
2,65 acres
Level/natural
Estates
In$/ac
,-
$
Cash or Equiv.
$
,
$
31,132
$
14,000
Comments and Condrtlons of Appraisal: Subiect and comps are compared on a $/acre unit prfce basis. See attached Limiting Conditions.
Final Reconciilatioll: 5.12 acres $30,OOO/acre $153,600
I ESn.an: THE MaRKET VALUE. AS DEFINED, OF SUBJECT PROPERTY as OF
Harry Henderson, SRA
Appraiser(s)
[Y2~
June 11,
2009 to beS 153,600
DDid [JOidNotPhysicallylnspeclProperty
Review Appraiser (ij applicable)
CollierCourrtvGovernment
Form LND - "WinTOTAl" appraisal software by a la mode, inc, ~ 1-BOG-ALAMODE
IM';"FIl&.~O. 16B2
January 12, 2010
15 of 19
Supplemental Addendum
File No, Pond 2F
Borrower/CWen! Ta or L
Pro Address W/S of 23rd Street NW
Ci Na les
Lender Collier Count GovfTrans
Cou Collier
State FL
Zi Code 34120
ortation Division
-
eland: Neighborhood Mark~t Factors
The subject is located in the central part of unincorporated Collier County in the ~cfose-in" Golden Gate Estates area. GoJden
Gate Estates is a sprawling pre-platted subdivision consisting of acreage-type single-family homesites (1.14 to 5 acres typically)
in a semi-rural setting. Essential services are within a 20 minute drive into greater Naples. The subject street runs north off of
Golden Gate Boulevard and terminates at the Cypress Canal. Maintenance levels in the area are average.
. Land: Market Data
The subject and camps are compared on a unit/price ($/eers) basis. This method eliminates the need for direct size
adjustments. The sales cited are all Estates zoned lands located in the general vicinity of the subject. The overall real estate
market has been in decline since late 2005 and remains exceptionally weak.; the Estates market has been especially soft due to
a severe supply-demand imbalance in this area. The sales cited are relatively recent transactions; no time adjustments have
been applied in order to give property o\Nl1ers every benefit of the doubt.
The indicated unit prices range from $14,OOO/acre to $31, 132/acre; given the comparison criteria discussed, a high-side unit
price of $18,OOO/acre is selected. Thus-
5.12 acres x $30,OOO/acre = $153,60Q.
-
Form TADD - "WinTOTAL" appraisal software by a la mode, illC. - 1-80D-ALAMODE
'---
------
Location Map
Borrower/Client Ta or L.
Pro e Address WfS of 23rd Street NW
C' Na les
Lender Collier Count GovfTrans ortation Division
L-
,
E Terry 51'-
~
~
I
SooDelrLn-
~
~
~
0:
.
~
~
HarrelAve .-
oM.! ae,.,ch Rrl SE
., .j
j
.~
I
,
')
......"..,.
... ~"',I
Ilf ',_ ~'"
lO ."
, """"","'''",~',
, "'''"i''-.
'" ,-- <-,--,--",', ,"^",
W "" ',"
~:: Stone~,~":
tiiLa~(i}
,f!;-" "~:(.-~'i-
n-re:Gllia.rr.t4
WeatheredstllllP-- F
"
'__ J .-
~
~.
~.
.
!
J \
akLBd --
_-~ 'i,iJ.....
i ~il-
...."'if
'i
"
:ii.
I,
Herttage
So,
i'-;',,',~~ ',"\' ,',"
......,~r:,:",),',
,'--, UIlIt';/~',Y,n;Vf",
.
.
't'i
l it
,,~
CI1~l~
ClllusaPines
GelfOub
.
Subject
WiS of 231"d Street NW
,Rd
'I
}~I1 "
"'''''I
lhAvttfWf ~ 5tn M. roll'!
, ~
rdMoeNW1-~ 3rdAvtNW
st.we1Wf ,,,stA
,
i'GoIdel'l
st Ave SW .~ '
'I,'
rd I\ve$W'I',
1IlI\vesw-l, w.51h \Ie SW
~
Avt SW \~1'" 7th Ave SW
ioeRidgeRdif~eBl
1tl1 NIt:. SW It 11
3th AveSW l'
- IE
een flIoJd '~ lII,._.~."...m
It ~
<tP"IJ s~, fa. 19th Ave SW *
!L Q
~_il1IJ 21 ~t Ave SI'! -.
"
,23raAveSl'I
4"1
25th Ave 5W
'I
:1
€200B_1tQ,~/OrT.~~I",10<,
~. ~8Ilderbilt aeW! ReI",
t1th Av~ NW---C ~
.
"
-
~
~
.
i
.
w
~
;T
.
.
Comparable # j
30'1.1 7th AV('JlUP SW
2 .55 lIlih?~ SW
"
~
;T
.
comparablp,# 3
2050 39th mref't sw
4 .OL' mil~~ SW
o
~
o
HicleoL1l <:>
GoliClub ...
__~i
Br~ntley Blvd
~
,
~
~
~
. -,~
_.
.C
.-
-"-
~
,
~
.
i
B1vdW
,
.
"
>
,
-
.
Cou Collier
,"
....
..
."
.~
.~-
-.'f"
- -.-,. . --,
~..
--f"--
_-C-.._
-".;,..
- -----
IM';"Fi!A.~O. 1682
January 12. 2010
16 of 19
Stale Fl
Zi Code 34120
-
~
..-"-
.-
-r-'
-".
-"..
".
'"
-.
,
"
~..
o
~
..
.
"
.
~
,
.
,
b
-
.
"
j
:!'
>::l,
~
-
..
~.
.. ;l.~::.'.
_.
..."
_.
-'.......
.~
...... ~
1m, I.
~
.t::>iIJ9'"
~ "'~,.
"'..
..,
~.
~.
+
--.~.
+
+.
- -"","-.
.,.
-~ ---",-
...... -'-'b
.~
..!,. -"'-
.-
.+
~
-
----- ...~
-
-~.. ,
.-
.,...
-
-
. -
_"~ _-A'.
_.
....:....
-_..
. -~
...~
",~
. ~
...
""L
-.,.
-
-
_.~
."-
- ,~,.
~.
...:...:[
~.-
f+- e--i--.
........ --'"---..
E- v- -e- r-g-/'- a
- -........... - -~_.
'.' "~..
I ""!.ld~\1d5..~..'c
.. ~.L" _ _ =,:"- ,
c, " Rod' :'Ei58-: ,.L--
ne . ,'OJ ..__
: t - ,~.
H '
". %..q.
'~ ,'. ,
,J'
," '84Fr'~~,,,R~nd811 eJvL..
------' .... -- .._~
.,
"~
:i 15,
.
;;:
V>Fr~ngl~Ave
d ,e,.:.-s
.--""-- - ......--
Q
.
lmtnr...,,~r--e~-::fr ';,~ ;;, ,;,---
A ." 'i';c,
~ ~ 0" - '-P__~ 22/ldAveNW
..
CannonB1..,.j
-, ---+- ,: ;.J-.""-,'""'...."'''''"tt--;.:-..''...
i :nth ~ ~,~ ~_~' ~r ~_ t '.'" ~
~. t~"~_,Au::'-rtE,,:1 "~-~;.'iiii-~~~ ~~ ~
:z - +. -~"+-- '- -!4 ,-J
.--,,~_..-- .----'---",--' r" ,
.33fd";iPel'f".
"~:TE
~ f .
- - _.~
._~
~ ----
.-
...,.,.. "- .-
-......
~
'iht Ave NE
.'"
.
."..
..
_.
39th Ave It:
~.
_...;0,.-
--
..
. -'~
--
37thA\Il'fE--
35thAveNE
... -.
- -.V8Iencio
., .GoIf'
"C'---
;> o~:Ge
l~
.
....----
iI-.
,,'.
.c.
.-
,"--
24'ih A'#! NE.
22ndAveNE.
.,
~
....--
.." ~..'.
.-
sh8dy ~IC*' .B!vd~.:='-~_
""
..
41f! Ave N'H ,.,.J., -' ~'...
-" ..,-,. ...' ..'-.
.---
--
,-
39thMll': NW
20lhAve NE'-'
20th Ave J1E
.~
,,+
,..--
.c,
-'"-
.'"
..
.'
r:..
~";
~r__'.
35thAlIe NW
161h Ave NE~-
}ung8lvdE
16th Av~liE._ '
161hlwtf'E
JIftlq Bfvd E
161hl\veNE
-
37th Ave roM".
141t1'AveNE.
14th Ave ~E
,,'* -
..
.tt:,C
..-------,'''''"-
Twtrleeglc$,:
""'''"Golfn:'':"'
ColXllry.CIiJb .
.,,~, ..',
"
".
12th AlIe tE
121h '~11e HE
'IOthIWeNE
33rd Ave NW.
.-
. ~ .
~ ~ ~
.."
~
10th "'v~ Nf
:t ~.
~.. ~
~
~
~
g' -
~ ~
.;-
i
\::! \::!
.
,.
m
~
.+
"",..
BllyE8$
"-
~"
.
~
~. :z
m
~
~.. ~
~
~
,~ ..
2O!h"'lIe NW
-'",.
18th Ave NW
~.~
~
~'"'
.
.
if
,
-~-
Goklen Gatt BllId E
~ ~
-'"
Kerltsl80dRtf
16th Ave NW
,
Q
~
-',,,
~.
~ \a >::l 10
it
~.
~.. ~
\a. ~ ~~
;,;!' l:: ~
-
m
'" "'-VI
"1.. m ....
ShailiLn..:..
Hlh Ave NW
~
~
-
m
,
12th AlJt I.w
,
OldeFIOlida
GoliClub
100, Ave NW
?I 1i"'~
-.
'=' _.'~'
I.
~
-
.
~
i
-
>
~
-
~
-
i ~
~
~
f
Vi.. :;l
~ .
Iii :a
~
.
o
~.
1l
~
L:omparablt' 1t.2
7Ul 19th Strp.pt NW
UAl)milp!>l-
:a ~ ~
~
i
!:::l_ :a
.
i i i
..
"
>
.
.
.
~
i i ~
-
~
-
.
.
~
.
-
~
~
~
~
,
~
.
J.
.
~
.
~
"
,
~
~
~
~
~
~
- - ~
!-iI_ - ::T'
~ ;T
"":,,Ie
'(j:6-~.~'
I:'~-l'
. ,.
"
Form MAP.LOC - "WinTOTAL' appraisal software by a la mode, inc. -1-BOO-AlAMODE
~
.
"
.
"
~. ~,'. :'i:
~
,
'1
~
...
....
.
if
..
~
~
~
~
IM';"F'!A.~O. 1682
January 12, 2010
Page 17 of 19
.-
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions
requisite 10 a fair sate, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this
definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under cond~ions whereby: (1) buyer and seller are
typically motivated; (2) both parties are well Informed or well advised, and each acting In what he considers tis own best interest: (3) a reasonable time is allowed
for exposure in the open market (4) payment is made in terms of cash In U.$, dollars or In terms of financial arrangerner1ls comparable lherelo; and (5) the price
represents the normal consideration for the property sold unaffecled by special or creative financing or sales concessions* granted by anyone associaled with
the sale.
.. Adiustrrents to the comparables must !le made lor special or creative financing or sales concessions. No adjustments are necessary
for those costs wtich are normally paid by sellers as a resu~ of tradition or law in a market area: these costs are readily ident~iable
since the seller pays lhese costs in virtually aA sales transactions, Special or creaflve financing adjustments can be made to the
t:omparable property by t:ompariso~ to financi~ lerms offered by a third party instihJlional lender that is no! already invalved in the
property or transaclian. Any adjustlTllnt should not be calculated on a mechanical doUar for danar cost of the financing or concession
but the dallar amaunt of any adjustment should appro:dmate the markel's reactian to the financing or concessians based on the
appraiser's judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certnicalion lhal appears in the appraisal report is subject to the following
coooitions:
1. The appraiser will not be responsible for matters of a iegal nature lhat aHect e~herthe property being appraised or the titie to it. The appraiser assumes thaI
the title ts good and marketable and, therefore, will nol render any opinions about the title. The property is appraised on the basis of tt being under responsible
ownership.
2. The appraiser has provided a sketch in the appraisal report to Show approximate dimensions of the Improvements and the sketch is included only to assist
the reader of lhe report in visualizing the property and understanding ttJea ppraiser's determinalion of Its size.
3. The appraiser has examined the available flood maps lhal are pmvided by the Federal Emergency Management Agency (or olOOr data sources) and has noled
in the appraisal repart whether the subject site is klcaled in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes
noguarantees,eKPresSorimplied,regardingthisdetermination.
-
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in Question, unless specKic arrangements to do
so have been made beforehand.
5. The appraiser has estimaled the value 01 the land In Ihe cost approach at its higl1eSl and best use and the improvements at their conllibutory value. These
separate valuations of the land and improvements musl not be used in conjunction with any other appraisal and are invalid If Ihey are so used.
6. The appraiser has noled in the appraisal report any adverse conditions (such as, needed repairs, depreciation, lhe presence of hazardous wastes, toxic
substances, etc.) observed during the inspection of lhe subject pmperty or that he or she became aware 01 during the normal research involved in perfooning
the appraisal. Unless olherwise stated in tt1e appraisal report, the appraiser has no knOwledge of any hidden or unapparenl conditions of the property or
adverse environmental condnions (including tt1e presence of hazardous wastes, tOlac substances, etc,) that would make the property more or less valuable, and
has assumed that there are no such conditions and makes no guarantees or warranties, express or Implied, regarding the condition 01 the property. The
appraiser will not be responsible lor any such conditions that do exist or for any engineering or testing that might be required to discover whether such
conditions exist Because the appraiser is 001 an expert in the field of environmental hazards, the appraisal report must nol be considered as an
environmentai assessment of the property.
7. The appraiser oblained lhe information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be
reliable and beljeves lhem to be true and correct. The appraiser does not assume responsibilily for the accuracy of such ilems lhat were furnished by other
parties.
8. The appraiser will rol disclose the contenls of Ihe appraisal report except as provided for in the Uniform Standards of Professional Appraisai Praclire.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal thaI is subject to satisfaclory completion, repairs, or
a!terations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report
Qnciuding conclusions about the property value, the appraiser's identity and professional designations, and references to any professiorJal appraisal
organizations or the firm with which fhe appraiser is associated) to anyone other than the borrower; the mortgagee or its successors aoo assigns: the mortgage
insurer; consultants: prolessiorJal appraisal organizations: any stare or federally approved financial institution: or any departmem, agency, or instrumentality
of the United States or any slate or the District of Columbia; exceplthat Ihe lender/client may distribulethe property description section of the report only to data
colleclion or reporting service(s) without having to obtain the appraiser's prior written consent The appraiser's written consent and approval must also
be oblalned before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
---
Freddie Mac Form 4396-93
Page10f2
Fannie Mae Form 1004B 6-93
Collier Courrty Government
Form ACR - 'WinTOTAL' appraisal software by a la mode, inc. - 1-BD(}..ALAMODE
"--
-,--,~"'.~--.
-~,-~'._...
[M'inF~~.r!lJO. 1682
January 12. 2010
Page 18 of 19
APPRAISER'S CERTIFICATION: The Appraiser certifies alld agrees that
1, I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property
for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflecllhe market reaction to those rtems of significam
variation, Wa significant rtem in a comparable property is superior 10, or more favorable than, the subjecl property, I have made a negative adjuslment 10 reduce
the adjusted sales price of lt1e comparable and, 11 a significant hem in a comparable property is interior to, or less favorable thanlhe subject property, I have made
a positive adJuslmenttoincrease the adjusted sales price o11hecomparable.
2. I have taken into consideralion the factors that have an impact on value in my devekJpmerrt of the estimale of market value in the appraisal report I have nol
knowing~ wilht1eld any significant information from ttJe appraisal report and I believe. to the besl 01 my knowlellge, that an statements and inlormation in the
appraisal report are true and correcl.
3, I stated in the appraisal report only my own personal, unbiased, and professional ana~sis, opinions, and conclusions, which are subject only to the contingent
and limiting condrtions specified In this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bi as with
respect to lheparticipants in the transacliOl1.1 did nol base, either partially orcomplelely, my analysis and/or the estimale of marlrelvalue in the appraisal report
on the race, color, religion, sex, handicap, familial status, or national origin of either the prospeclive owners or occuparrts of lhe subject property or of the present
oWllers or occupants 01 the properties in l11e vicinity of the subject property.
5. I have rKl present or contemplated ftlture interesf in the subject property. and neither my current or IUlUre employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property,
6. I was not rel:luired to report a predetermined value or direction in value that favors the cause of the client or any rela1ed party, the amount of the value estimate,
the attainment of a specific resu~, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. )
did not base fhe appraisal report on a requested minimum valuation, a specific valuation, or ttle need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal
Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception ofllll departure provision of those
Standards, which does nat apply, I acknowledge that an estimate of a reasonable time for e)(Jlosure in the open market is a condrtion in the definition of market value
and the estimare I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have olt1erwise stated in the
reconciliation section.
B. I have personal~ inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report
I further certify that I have I10ted any apparent or known adverse conditions in the subJect improvements, on the subject site, or on any site within the immediate
vicinity of the subject property of which I am aware and have made adjustments for these adverse condrtions in my ana~sis of the property value to the extent thai
I had market evidence to support them. j have also commented about the effect of the adverse condnions on the marketability 01 the subject property.
9. I personal~ prepared all conclusions and opinions about the real estate thaI were set forth in the appraisai report If I relied on significant professional
assistance from ally individual or individuals in the performance of the appraisal or the preparation of the appraisal report I have named such individual(s) and
disclosed the specmc tasks performed by them in the reconciliation section of this appraisal report. I certrty that any individual so named is Qualrtied to per10rm
the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take
no responsibility lor il
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that
I directly suplll'Vise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
agreetotleboundbytl1eappraiser'scertificationsnumbered4through7abave, and am taking full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: W/S of 23rd Street NW, Naples, FL 34120
APPRAISER: SUPERVISORY APPRAISER (onl, if required):
Signature:
Name: Harry Henderson, SRA
Date Signed: June 1" 2009
State Certification #: RD3475
or State License #:
State: FL
Expiration Dale of Certffication or License: 11/30/10
Signature:
Name:
Dare Signed:
Stale Certification #:
orStateLicense#:
State:
ExpirafionDateofCertificationorLicense:
LDid
!",,;DidNotlnspectProperty
Freddie Mac Form 4396-93
Page2of2
Fannie Mae Form 1004B 6-93
Form ACR - "WinTQTAL" appraisai software by a la mode, inc. -1-80D-ALAMQOE
NO,"
CO~~
<oO~
~N 0
'-~,,-; N' 0)
-
~
<1>
.<::,,,,
-OJ'"
$::Ja.
-0:
"'OJ
-0 -,
c:
<1>
'"
-0:
~
l[)
~
-
<.l
~
I-
-
r--
-
.-
c:
::::>
llJ
<.9
<.9
~
>-
I-
0::
llJ
a.
a
0::
a.
0::
a
...J
.- >-
<(
l-
LL
a
a
I-
a
:r:
a.
...J
<(
0::
llJ
<(
,
a.
<(
~
z
a
-
I-
<(
0
a
...J
.,~
. -'-.------
. ,--- "-~-~-"~'''"',~,--
.---_.._~+',,'-