Agenda 05/11/2010 Item #16B10
Agenda Item No. 16810
May 11, 2010
Page 1 of 24
EXECUTIVE SUMMARY
Recommendation to approve the purchase of 2.81 acres (Parcel 1272FEE) of improved real property
which is required for the coustruction of Phase 2 of the Vanderbilt Beach Road Extension Project
between Wilson and DeSoto Boulevards. Project No. 60168 (Fiscal Impact: $157,610.00).
OBJECTIVE: To obtain the approval of the Board of County Commissioners to purchase improved real
property required for Phase 2 of the Vanderbilt Beach Road Extension Project between Wilson Boulevard
and DeSoto Boulevard.
CONSIDERATIONS: This property is one of the original 19 homes designated as "whole takes." It
contains a total of 2,81 acres and is described as the South 180 feet of Tract 5, Golden Gate Estates Unit 16.
The street address is 1120 16th Street NE.
On July 27, 2006, an Official Project Notification lctter was sent to the owners of the property, Eli and
Naomi Campos who purchased the property in November, 2005. In July, 2008, foreclosure proceedings
were concluded and title to the property was issued to the mortgagee, US Bank, N.A., which then sold it to
the current owners, Gary and Brandi Verder in October, 2008 for $146,500.00 with a purchase money FHA
mortgage that also financed their closing costs. Mr. and Mrs, Verder were not aware of the County's plans
for the Vanderbilt Beach Road Extension Project.
On December 9, 2008, Mrs. Verder contacted the Transportation Engineering and Construction
Management Department and explained that a neighbor advised her that Collier County planned to put a
road through the middle of their new home. The Property Acquisition Specialist assigned to the parcel
(Project Parcel No, 1272FEE) explained the options available to the Verders, including the option to stay in
the property until construction was imminent.
After Mr. Verder's return home from his tour of duty in Iraq in February, 2010, Mr. and Mrs. Verder
advised staff that they were anxious to put down roots for their young family without the constant wony
that the County could take the property through eminent domain proceedings at any time and displace their
family. Using current comparative sales data, the Transportation Division's Review Appraiser, Harry
Henderson, SRA, appraised the market value of the subject property at $125,000.00. The assessed value of
the property is $202,905.00.
Mr. and Mrs. Verder have since agreed to convey the property to Collier County for $156,250.00 (which is
25% above the appraised value), Said amount will payoff the existing mortgage and give the Verders a
nominal amount to relocate, The Agreement also provides a post-closing occupancy period of two (2)
months to allow time sufficient for relocation.
Staff believes there are compelling reasons to purchase the subject property from the Verders for
$156,250.00, at this point in time:
This is not a distress sale. The property owners could conceivably wait for the market to improve and the
market value of the property to increase, Should this acquisition be delayed for several years until
construction is imminent, and be forced to take the property through condemnation, the cost of doing so
would far exceed the owner's present asking price. In addition, the owners are cooperating with staff and
there are no attorney or expert fees.
Agenda Item No. 16810
May 11, 2010
Page 2 of 24
FISCAL IMPACT: The fiscal impact is in the amount of $157,610.00 and includes the $156,250.00
negotiated purchase price; a title search fee and a title insurance premium totaling approximately $1,310.00;
and recording fees not to exceed $50.00. Source of funds are road impact fees.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this
Executive Swnmary.
LEGAL CONSIDERATIONS: This item has been reviewed and approved by the County Attorney's
Office and is legally sufficient for Board action. - JBW
RECOMMENDA TION: That the Board of County Commissioners of Collier County, Florida:
1. Approve the attached Purchase Agreement and authorize its Chairman to execute same on behalf of the
Board;
2. Accept the conveyance of Parcel 1272FEE (South 180 feet of Tract 5, Golden Gate Estates, Unit 16)
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
performanee in accordance with the terms and conditions of the Agreement; and
5. Approve any and all budget an1endments which may be required to carry out the collective will of the
Board.
Prepared by: Michelle L. Sweet, Property Acquisition Specialist, Transportation Engineering &
Construction Management
Attachments:
Appraisal
(I) Purchase Agreement; (2) Location Map; (3) Aerial Showing ROW Corridor; (4)
Item Number:
Item Summary:
Meeting Date:
Agenda Item No. 16810
May 11, 2010
Page 3 of 24
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
16B10
Recommendation to approve the purchase of 2,81 acres (Parcel 1272FEE) of improved real
property which is required for the construction of Phase 2 of the Vanderbilt Beach Road
Extension Project between Wilson and DeSoto Boulevards, Project No. 60168 (Fiscal
Impact: $157,610)
5/11/2010 9:00:00 AM
Date
Prepared By
Michelle Sweet
Transportation Division
Property Acquisition Specialist
Transportation Engineering &
Construction Management
4/21/20109:53:27 AM
Date
Approved By
Debbie Armstrong
Transportation Division
Project Manager
Transportation Engineering &
Construction Management
4/22/2010 11 :49 AM
Date
Approved By
Kevin Hendricks
Transportation Division
Manager - Right of Way
Transportation Engineering &
Construction Management
4/22/2010 1: 35 PM
Date
Approved By
Jennifer White
County Attorney
Assistant County Attorney
County Attorney
4/22/2010 1 :41 PM
Date
Approved By
Gary Putaansuu
Transportation Division
Project Manager, Principal
Transportation Engineering &
Construction Management
4/23/20106:23 AM
Date
Approved By
Lisa Taylor
Transportation Division
Management/Budget Analyst
Transportation Administration
4/26/20109:30 AM
Date
Approved By
Norm E. Feder, Ale?
Transportation Division
Administrator ~ Transportation
Transportation Administration
4/27/20109:35 AM
Date
Approved By
Natali Betancur
Transportation Division
Administrative Assistant
Transportation Road Maintenance
4/27/20103:28 PM
Approved By
Najeh Ahmad
Transportation Division
Agenda Item No. 16810
May 11, 2010
Page 4 of 24
Director - Transportation Engineering
Date
Transportation Engineering &
Construction Management
4/27/20104:42 PM
Date
Approved By
OMB Coordinator
County Manager's Office
Office of Management & Budget
4/29/20108:08 AM
Date
Approved By
Jeff Klatzkow
County Attorney
4/29/201010:19 AM
Date
Approved By
Susan Usher
Office of Management &
Budget
Management/Budget Analyst, Senior
Office of Management & Budget
5/3/2010 4:41 PM
Date
Approved By
Mark Isackson
Office of Management &
Budget
ManagementfBudget Analyst, Senior
Office of Management & Budget
5/3/2010 5: 58 PM
Agenda Item No. 16810
May 11, 2010
Page 5 of 24
PROJECT: 60168 Vanderbilt 8each Road Ext
PARCEL No(s): 1272FEE
FOLIO No(s): 37390440000
PURCHASE AGREEMENT
(Extended Possession of Improved Property)
THiS PURCHASE AGREEMENT is made and entered into on this day of
, 2010, by and between GARY E. VERDER, II and BRANDI
VERDER, husband and wife, whose mailing address is 1120 16th Street NE, Naples,
FL 34120, 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, Seiler owns certain improved property located at 1120 16'h Street
NE, Naples, Florida, and more particulariy described as the South 180 feet of Tract 5,
GOLDEN GATE ESTATES UNiT 16, together with all buildings, structures and
improvements, fixtures, built-in appliances, ceiling fans, floor coverings and window
treatments (hereinafter collectively referred to as "Property"), but specifically excluding
the garage refrigerator, the kitchen refrigerator; dishwasher, microwave oven, stove,
washer and dryer: and
WHEREAS, Seller has agreed to sell and Purchaser has agreed to purchase the
Property subject to the terms and conditions that follow: and
WHEREAS, Seller desires to remain in possession of the residence located on
the Property, and has requested the right to occupy the premises for a term of sixty (60)
days after closing, to which request Purchaser has agreed,
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
A, The purchase price (the "Purchase Price") for the Property shall be
$156,250,00 U,S. Currency payable at time of closing, Said Purchase Price was
agreed upon by the parties hereto with full consideration having been given to the vaiue
of the extended possession. (See Section 4 below,)
8, Payment of the Purchase Price and other amounts provided for herein shall
be made at time of closing and shall be full compensation for the Property conveyed,
including all structural and site improvements and fixtures, and all landscaping, trees
and shrubs located thereon, and shall be in full and final settiement of all other costs
and expenses incurred by Seller, including but not limited to moving expenses,
attorneys' fees, expert witness fees and costs, as provided for in Chapter 73, Florida
Statutes.
None of this Purchase Price is attributabie to any personal property,
3. CLOSING
A. The Closing (THE "CLOSiNG DATE", "DATE OF CLOSING", OR
"CLOSING") of the transaction shall be held on or before one hundred twenty
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Agenda Item No. 16810
May 11, 2010
Page 6 of 24
(120) days foilowing execution of this Agreement by the Purchaser unless
extended by mutual written agreement of the parties hereto, The Closing shail be
held at Collier County Transportation, Administration Building, 2885 Horseshoe
Drive S, Napies, Florida. Purchaser shail be entitled to possession as of Closing,
unless otherwise provided herein, Seiler shall deiiver the Property in broom-clean
and working condition, and free of all debris upon vacating the premises,
B. Seiler shall convey a marketable title free of any liens, encumbrances,
exceptions, or quaiifications. Marketable title shall be determined according to
applicable title standards adopted by the Florida Bar and in accordance with law.
Within fifteen (15) days of the effective date hereof, 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-Seiler 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-9 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 ail other documents required to
consummate this transaction, as reasonably determined by Purchaser's
counsel and/or title company.
6. Certificate of insurance pursuant to Section 4L (below),
C, At the Closing, the Purchaser, or its assignee, shail cause to be deiivered to
the Seiler the following:
1, A negotiable instrument In an amount equal to Net Cash to Seiler on the
Closing Statement. No funds shall be disbursed to Seiler 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 "Requirements and Conditions" beiow, and the
Title Company is irrevocably committed to pay the Purchase Price to
Seiler 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 Seiler representing the Purchase Price shail 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, and all Warranty Deed recording fees. In addition, Purchaser may elect
to pay reasonable processing fees required by mortgagees in connection with the
execution and delivery of a Release or Subordination of any mortgage, lien or
other encumbrance recorded against the Property; provided, however, that any
apportionment and distribution of the Purchase Price in Section 2 which may be
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Sellersll1itials
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Agenda Item No. 16810
May11,2010
Page 7 of 24
required by any mortgagee, lien-holder or other encumbrance-holder for the
protection of its security interest, or as consideration due to any diminution in the
value of its property right, shall be the responsibility of the Seller, and shail be
deducted on the Closing Statement from the compensation payable to the Seiler
per Section 2.
E, Seiler, at its sole cost and expense, shall pay at Closing ail documentary
stamp taxes due upon the recording of the Warranty Deed, in accordance with
Chapter 201,01, Florida Statutes, unless the Property is acquired under threat of
condemnation. Furthermore, there shall be deducted from the proceeds of saie ail
ad valorem taxes and assessments ievied against the parent tract property which
remain unpaid as of the date of Closing.
F. The cost of a Tille Commitment shall be paid by Purchaser along with the
cost of an Owner's Form B Title Policy, issued pursuant to the Commitment
provided for in Section 8, "Requirements and Conditions" (below),
G. 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 wiil be prorated based upon such prior year's miilage.
H. A Security Deposit in the amount of FIVE HUNDRED and 00/100 DOLLARS
($500,00) will be withheld from Seiler's closing proceeds to be held by Purchaser
during the Seiler's occupancy in accordance with the provisions of Section 48
(below).
4. OCCUPANCY BY SELLER AFTER CLOSING
A. Selier may occupy the Property after Closing for a period of sixty (60) days
(the "Tenm"), There shall be no extensions of the Term.
B. At Closing, the sum of $500,00 wiil be withheld by Purchaser as security for
any damages suffered by the Property during the Seiler's occupancy ("Security
Deposit"). The Security Deposit wiil be paid to Seiler at the end of its Term of
occupancy, provided there has been no damage to the Property caused by the
negligence or intentional acts of Seiler or anyone acting with Seller's knowledge
and consent. Upon the vacating of the Property, the Purchaser wiil have twenty
(20) days to return the Security Deposit or give Seller written notice of Purchaser's
intention to impose a claim upon the Security Deposit. In the event Purchaser
intends to impose a claim upon a part or all of the Security Deposit, it will provide
Seller with an explanation of the damage, an estimate of repair and an accounting
of the deposit balance.
C. When the Property is partly damaged or destroyed by fire or other casuaity
not due to Seller's willfui or negligent act or that of anyone on the Property with the
knowledge or consent (actual or implied), of Seller, Purchaser will make repair as
soon as reasonably possible. Purchaser shall also be responsible for the repair to
fixtures in excess of the limit set forth in Section 4F (below), provided such repair
is not necessitated by Seller's misuse, waste or neglect of the Property, or that of
anyone on the Property with Seller's knowledge and consent (actual or implied). If
the Property is rendered un-inhabitable due to fire, storm or other casualty, then
this Agreement shall automaticaily terminate, with the sole duty of Purchaser then
being to refund to Seller the security deposit. Purchaser shail not be liable for any
damage or injury to Seiler and his or her property by reason of any water damage
sustained by Seller and his or her property, or by reason of the breakage, leakage,
or obstruction of water and sewer lines or other breakage in or about the Property.
D. Seller agrees to pay all utility services as they come due, inciuding eiectricity,
teiephone, gas, cable television, water, sewer, and solid waste collection, shall
arrange for a final billing and payment of same at the time Seller vacates the
Property, and acknowledges that Purchaser will deduct all such unpaid bills from
the Security Deposit. Seller shall keep the property free from pests and insure that
Selier'sll1:tlals
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Page No.3
Agenda Item No. 16810
May 11, 2010
Page 8 of 24
the air conditioning system is in operation to maintain a reasonable room
temperature until the Seller vacates the property.
E. Seller will use the Property oniy as its primary residence. Seller is prohibited
from allowing persons, other than its immediate family members, to reside on the
Property.
F, Seller shall maintain the Property, including ail Systems and Equipment, in
clean and working condition at all times. Seller shall use all Systems and
Equipment in a reasonable manner, Seller shall immediateiy make and pay for all
required repairs to the plumbing, heating apparatus, air conditioning, and electrrc
and gas fixtures, provided the cost of said repairs does not exceed Ten Thousand
Dollars ($10,000,00), Purchaser reserves the right to enter upon the Property and
repair, at the Seller's expense, all damage or injury to the fixtures in the event
Seller fails to effect repairs after 10 days' notice. Purchaser's election not to effect
repairs shall not relieve Seller of its obligation to repair or subject Purchaser to
liability for its election.
G, Seller shall comply with all governmental regulations concerning the use of
the Property and not permit or suffer any illegal activity or use, or permit to be
made any disturbance, noise or nuisance whatsoever, which would be detrimental
to the peace, quiet and comfort of other persons in the vicinity of the Property, or
affect the insurance risk factor to the Property
H. Seiler shall permit Purchaser's agent or employee to enter the Property at
any reasonable time, upon 24 hours notice, during the term of this Agreement to
inspect the Property or make any needed repairs,
I. Seller will surrender possession of the Property at the expiration of the Term
in as good a condition as of the Effective Date, reasonable wear and tear and acts
of God excepted, Seller shall not be responsible to repair or replace the items or
deficiencies set forth in the attached list marked Exhibit "A" which existed prior to
the Closing,
J, Seller shall not alter or make additions to the Property without the
Purchaser's consent. Seller shall not deface, damage or remove any part of the
Property or permit any person to do so, nor shall any of the appliances listed on
Exhibit "8" be replaced without the Purchaser's consent
K. DEFAULT Seller will be deemed in default of this Agreement if Seller
fails to perform any of the covenants, promises or obligations contained in this
Section for a period of ten (10) days after notice of such default. Upon Seller's
default, County may terminate this Agreement upon twenty (20) days written notice
to Seller, re-enter and take possession of the Property, whereupon the term
thereby granted and all rights of Seller to occupy the Property shall terminate, The
Seller shall remain liable for any damage suffered by the Property because of
Seller's breach of any of the covenants of this Agreement, and such termination
shall be without prejudice to the Purchaser's right to collect said damages.
Purchaser and Seller shall have the right to pursue any and all remedies available
under this Agreement or applicable law.
L. Seller shall be required to maintain insurance on the Property during the
entire Term, and any Extended Term, which policy shall include contents coverage
of $100,000, premises liability with limits of $300,000, and loss of use coverage.
Purchaser will be named as an additional insured and the policy premium for the
Term of occupancy will be paid in advance at Closing, Seller will be required to
provide a certificate of insurance prior to Closing.
M. The terms and conditions contained in this Section shall survive Closing and
are not deemed satisfied by conveyance of title.
5. PROPERTY CONDITION DISCLOSURES
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S..llerS'nIIJais.
Page No.4
Agenda Item No. 16810
May 11, 2010
Page 9 of 24
A. General. Seller represents that Seller knows of no facts or conditions
materially affecting the value of the Property, except those which are readily
observabie by Purchaser, or which have been disclosed to Purchaser by Seller in
writing and furnished to Purchaser prior to the Effective Date of this Agreement.
8. Radon Gas. Florida law requires the following disclosure: Radon is a
naturally occurring radioactive gas that, when it has accumulated in a building in
sufficient quantities, may present heaith risks to persons who are exposed to it
over time, Levels of radon that exceed federal and state guidelines have been
found in buildings in Florida. Additional information regarding radon and radon
testing may be obtained from your county health department. Seller has no
knowledge of the existence of radon on the Property or any radon mitigation
having been performed on the Property.
C, Lead Based Paint/Paint Hazards. If construction of the residence on the
Property was commenced prior to 1978, Seller is required to compiete, and Seller
and Purchaser are required to sign and attach to this Agreement, the addendum
entitled "Lead-Based Paint and/or Lead-8ased Paint Hazards Attachment to Saies
Contract: Disciosure of Information and Acknowledgement."
D. Mold, Molds are commonly found both indoors and outdoors, Interior
infestation by certain molds may cause property damage and health problems for
some persons. Seller has no knowledge of any mold remediation having been
performed on the Property.
E. Warrantv, Except as to any facts or conditions disclosed to Purchaser as
required under Section 5.A. above, Seller warrants that all major appiiances and
equipment; sprinkler, well, septic, heating, cooling, electrical and plumbing and
security systems; major mechanical components; roof (including fascia and
soffits); ceiiing; structural walls; foundation; swimming pool, spa and pool/spa
deck; seawails; docks; boat lifts/davits and related electricai and mechanical
components, if any (collectively "Systems and Equipment") are in Working
Condition. "Working Condition" shall mean operating in a manner in which the
Systems and Equipment were designed to operate, The roof, ceiling, interior and
exterior walls, foundation, swimming pool, spa and pool/spa deck, if any, shall be
considered in Working Condition if structurally sound and watertight. Seawalls
and docks, if any, shall be considered in Working Condition if structurally sound.
Seller shall not be required to repair or replace any Cosmetic Condition.
"Cosmetic Condition" shall mean an aesthetic imperfection which does not affect
the Working Condition of the item, including corrosion; tears; worn spots;
discoloration of floor covering or wallpaper or window treatments; missing or torn
screens; nail holes; scratches; dents; chips; caulking; pitted pool surfaces; minor
cracks in windows, driveways, sidewalks, spa/pool decks and garage, tile, lanai
and patio floors; and cracked roof tiles, curling or worn shingles and limited roof
life, so long as there is no evidence of structurai damage or leakage.
6, INSPECTIONS
A, Inspection Period, Purchaser shall have 60 days from the Effective Date
(Inspection Period) to have the Property and improvements thereon inspected at
Purchaser's expense as follows: (a) Systems and Equipment, by an appropriately
Florida licensed inspection company or licensed contractor, and/or (b) radon gas,
by a Florida certified radon measurement technician or specialist, and/or (c) lead-
based paint and hazards, by an EPA-certified lead exposure risk assessor, and/or
(d) termites or other wood-destroying organisms, by a certified pest control
operator (collectively the "Inspection Items"). Upon reasonable notice, Seller shall
provide access and utiiities service to the Property to facilitate inspections,
B. Election and ResDonse. If any inspection conducted during the Inspection
Period reveals: (1) that any Systems and Equipment are not in Working Condition,
and/or (2) the presence of radon gas at a level in excess of EPA action levels,
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SBIIer'slnitals
Page No.5
Agenda Item No. 16810
May 11, 2010
Page 10 of 24
and/or (3) the presence of lead-based paint or paint hazards required abatement
under HUD/EPA protocols, and/or (4) the existence of active infestation by
termites or other wood-destroying organisms and/or visible damage caused by
active or past infestation (collectively the "Defective Inspection Items"), Purchaser
shall, within 15 days after expiration of the Inspection Period: (a) notify Seller of
any Defective Inspection Items, and (b) furnish to Seller a copy of the inspection
report(s) documenting the Defective Inspection Items, and (c) notify Seiler of
Purchaser's election either to: (i) receive a credit from Seller at closing in iieu of
any repairs, replacements, treatment, mitigation or other remedial action
necessary to bring the Defective Inspection Items into compliance with the relevant
standards set forth above (the "Remedial Action"), or (ii) have Seller take Remedial
Action at Seller's expense prior to closing, If Purchaser eiects to receive a credit,
the amount of the credit shall be equivalent to the estimated costs of any
Remedial Action and shall be determined not later than the earlier of Seller's
Response Deadline, or 10 days prior to the Closing. If Purchaser elects (i), Seller
shall not be required to take any Remedial Action. If Purchaser makes no
election, Purchaser shall be deemed to have elected to receive a credit at Closing,
C, Not later than 15 days from receipt of the written notice and inspection
report(s) from Purchaser ("Seller's Response Deadline"), Seller shall notify
Purchaser whether Seller will give Purchaser credit equal to the cost of repairs or
take remedial action, whichever is requested by Purchaser. If Seller refuses
Purchaser's election by Seller's Response Deadiine, then Purchaser may
terminate this Agreement within 10 days of Seller's Response Deadline. If
Purchaser does not elect to so terminate this Agreement, Purchaser is deemed to
have accepted the Property in the condition it existed on the Effective Date, except
that Purchaser retains the rights set forth in Section 6.G. (Walk Through
Inspection) below, If Seller fails to respond by the Seller's Response deadline,
Seller shall be deemed to have accepted Purchaser's election and Purchaser may
receive credit at Closing as set forth above.
D. If Purchaser does not have the inspection Items inspected, or fails to do so
within the Inspection Period, or fails to timely report any Defective inspection Items
to Seller, Purchaser shall be deemed to have accepted the Property in the
condition it existed on the Effective Date, except that Purchaser retains the rights
set forth in Section 6G, (Walk Through Inspection) beiow,
E, Remedial Action shall be deemed to have been properly performed if (1) the
Systems and Equipment are placed in Working condition (as defined above), (2)
radon gas within the residence on the Property is reduced to below EPA action
levels, (3) lead-based paint and paint hazards on the Property are removed or
contained in accordance with HUD/EPA guidelines, and (4) any active infestation
of termites or other wood-destroying organisms is exterminated or treated, and all
visible damage caused by active or past infestation is repaired or replaced. Seller
shall make a diligent effort to perform and complete all Remedial Action prior to
the Closing Date, failing which a sum equivalent to 150% of the estimated costs of
completing the Remedial Action shall be paid by Seller into escrow at Closing
pending completion,
F. No cost to repair or replace any Systems and Equipment shall exceed the fair
market value of that item if it were in Working Condition. If the costs do exceed
fair market value, than either Seller or Purchaser may elect to pay such excess,
failing which, either party may terminate this Agreement upon written notice.
G. Walk- ThrouQh Inspection. Purchaser (or a designated representative) may
conduct a walk-through inspection of the Property prior to Closing and prior to
possession, to confirm: (1) completion of any Remedial Action agreed to by Seller
in Section 6.8 "Election and Response" above, (2) that the personal property items
which are being conveyed as part of this Agreement remain on the Property, (3)
that the personal property items which are not being conveyed as part of this
Agreement have been removed from the Property, and (4) that Seller has
maintained the Property as required In Sections 3 and 7. Upon reasonable notice,
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Seiler'slf1l1la~
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Agenda Item No. 16810
May 11, 2010
Page 11 of 24
Seller shall provide access and uliiities service to the Property to facilitate the
walk-through inspection.
H. Inspections durino Occupancv. Purchaser may enter upon the Property with
at least 24-hour notice to Seller for purposes of inspecting the Property for
compliance with the tenms of Section 4 of this Agreement or effecting repairs.
7, RISK OF LOSS
Seller shall maintain the Property (including without limitation the lawn, shrubbery, and
landscaping) in the condition existing on the Effective Date until Closing or date of
Purchaser's possession, whichever is later, except for ordinary wear and tear and any
Remedial Action agreed to by Seller under Section 6B 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 risk and expense,
except as provided in Section 4,
8, REQUIREMENTS AND CONDITIONS FOR CLOSING
Upon execution of this Agreement by both parties or at such other time as specified
within 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 Ciosing:
A. Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an AL TA Commitment for an Owner's Title Insurance Policy
(AL TA Form B-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
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. Selier, 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 of the Property unless the difference in acreage
revealed by survey exceeds 5% of the overall acreage, in which case the purchase
price may be renegotiated at the request of either party and established by written
addendum to this Agreement, or in which case this Agreement may be terminated
by either party providing Notice in the manner set forth herein, 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 eiect not to or be unable to remove
--"'-,,"- _2&__
Sellers Initials
Page No.7
Agenda Item No. 16810
May 11, 2010
Page 12 of 24
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
tenmlnate the Agreement, by providing written notice to Seller within seven (n
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 legai access,
9, 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, except for those provisions
in Section 4, 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 ciose 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, whereupon $0 or 0% shall be paid to Seller as
liquidated damages which shall be Seller's sole and exclusive remedy, and neither
party shall have any further liability or obiigation to the other except as set forth in
Article 11, Real Estate 8rokers, hereof. The parties acknowiedge and agree that
Seller's actual damages in the event of Purchaser's default are uncertain in
amount and difficult to ascertain, and that said amount of liquidated damages was
reasonably determined by mutual agreement between the parties, and said sum
was not intended to be a penalty in nature.
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.
D. This Section does not apply to any defaults by Seller of the obligations
contained in Section 4 of this Agreement.
10. 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 necessary,
C, The warranties set forth in this Section are true on the Effective Date of this
Agreement and as of the date of Closing, Purchaser's acceptance of a deed to
Page No.8
Agenda item No. 16810
May 11, 2010
Page 13 of 24
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 immediateiy 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, suits, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arbitration 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 entity any
rights with respect to the Property or any part thereof, without first obtaining the
written consent of Purchaser to such conveyance, encumbrance, or 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 or toxic
substances or wastes, as such terms are defined in applicable laws and
regulations, or any other activity that would have toxic results, and no such
hazardous or toxic substances 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 substances are or were located on the Property at any time
during or prior to Seiler'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 vioiation of any applicable Federal, State or local
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 arbrtration, 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 perform hereunder; nor is
there any other charge or expense upon or related to the Property which has not
<Of:.'" [j'JV-
Sellerslnilials
Page No.9
Agenda Item No. 16810
May 11, 2010
Page 14 of 24
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 above 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 perform any act which would adversely affect the zonin9 or
physicai condition of the Property or its intended use by Purchaser. 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. Seiler 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 federai, 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 "Superfund"), which was amended and upgraded by the Superfund
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.
11. 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:
With a copy to:
If to Seller:
With a copy to:
__~~\}_L7~1~_
Sellers Initials
Transportation Engineering & Construction Management
Attn: Kevin Hendricks
Right-of-Way Acquisition Manager
2885 Horseshoe Drive S
Naples, Florida 34104
Telephone 239-252-8192
Fax 239-530-6643
Jeffery A. Klatzkow
County Attorney
Office of the County Attorney
Harmon Turner Building
3301 Tamiami Trail East
Naples, Florida 34112
Teiephone 239-774-8400
Fax 239-774-0225
Gary E, Verder, II and Brandi Verder
1120 16th Street NE
Naples, FL 34120
Telephone 239-304-9090
Page No. 10
Agenda Item No. 16810
May 11, 2010
Page 15 of 24
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 receipt of personal delivery.
12. REAL ESTATE 8ROKERS
The parties hereto acknowiedge and agree that there no realtors/brokers involved in
this transaction. Any and all brokerage commissions or fees which may be due 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 cause or engaged by
Seller as a real estate broker, salesman or representative, in connection with this
Agreement.
13. MiSCELLANEOUS
A, This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
8. 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
Seiier, Any amendment to this Agreement shall be binding upon Purchaser and
Seller as soon as it has been executed by both pariies.
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
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 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.
G, if any date specified in this Agreement falls on a Saturday, Sunday or legal
hoiiday, 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, subject to the penalties prescribed for perjury, 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.,,1'i't':.
Selle~s lnitia~
Page No. 11
Agenda Item No. 16810
May 11, 2010
Page 16 of 24
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.
M. Seller may not assign, sublease, or license any rights arising under this
Agreement without the written consent of the Purchaser,
N. The parties hereto agree and acknowledge that this Agreement is not a lease
but rather a contract for occupancy (extended possession) of the Property as a
condition of sale which is not subject to Chapter 83, Fiorida Statutes. The parties
do not intend to invoke any of the obiigations or remedies contained in Chapter 83,
and the terms and conditions contained herein shall be construed in accordance
with the parties' intent and shall be given their plain meaning without reference or
application of s, 83.43, Fla. Stat., or any other portion of Chapter 83,
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date first above written.
AS TO PURCHASER:
DATED:
ATTEST:
DWIGHT E. 8ROCK, Cierk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
Deputy Clerk
BY:
FRED W, COYLE, Chainman
AS TO SELLER:
DATED: '-ili-IIJ
/' jj'" ! "T= ""
Witness (Signature)
, -,
_~~3f/'-
GARY E VERDER, II
/,'l--,y""Jr. ~~{\J"1 \ 17,::'(1".[.
Name (Print or Type)
(/l. /~/L / L_ (
Witness (Signature)
/l1,Jdl, J J:""I
Name (Print or Type)
---'.E..~
Seller's Initials
Page No. 12
Jjj,lv ///Jf.o!./.:/,,;
Wrtness (Signature) 1
})e--v'jIF Alo/ ~f/Z.""}j(,
Name (Print or Type)
~\f:(~~~~t~ef-f
rn ,,1"'" J. ]f.v.w I
Name (Print or Type)
Approved as to form and
legal sufficiency:
~ ~\., )\,;, +-1
Assistant County Attorney
::S-~NI0~f""f.e. !:. l.JH lof-
Last Revised; 0211912007
c:.:,~ I:~" '
Se/ler'slnilialll
Agenda Item No. 16810
May 11, 2010
Page 17 of 24
0:.-.-, ~<L ' S. i" _c~ ~~
8RANDIVERDER
Page No. 13
Agenda Item No. 16810
May 11, 2010
Page 18 of 24
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~ FannieMae Collier County Government
Desktop Underwriter Quantitative Analysis Appraisal Report
file No VBRx
IMj:i;~;~r,'tJ~~'!:,',,\, /(/6. 16510
May 11, 2010
o of 24
THIS SUMMARY APPRAISAL REPORT IS INTENDED fOR USE IY THE LENDER/CLIENT FOR A MaRTIAGE FINANCE TRANSACTION ONlyt;J~\
Prnllf!l'tv Address 1120 16th Street NE C' Na las StateFL Zi Code 34120
lAMl Descri tion Golden Gate Estates Unit 16 S 180ft of Tract 5 COUntv Collier
Asses or's Parcel No, 37390440000 Tax Year 2009 R.E. Taxes ~ 2190.97 S"""ial As.~..""'m. t 0
BOfTowerN/A Current Owner Verder Occuant IX'IOwnar Tenant Vacant
NiMhbortlood or Pro'eel Name Golden Gale Estates E of WIlson Pro'ectTllne PUO --, Condominium HDA' N/AIMo
Sales Price NIA OateofSale N/A Descri tion /!!: amount of loan chamP<:/cclIlcessions to be aid ~ seier N/A
P fihtsa raised FeeSlm Ie Leasehold Man Reference S36. T48-R27 Census Tract 112.02
loc.1lion DUrban ~SubUrban o Rural Iprno""""" Dlncreasing [2JS.ble DDeclm;ng tR,~~emIIY hoU~~ CondOmlnlumhOU$in~
'.1 up RDvor7S% ~;5.75% ~~nder25% Oeman~su,,~ DSho"'g. ,~'nba'nc.~ Dv"u,,~ (000 ~rs) ~%~bflf applic.) ~~s)
I ~ ",t~ Ra id Stable Slow Mar~~tin~ lime n Under 3 mos, 3-6 mos. Over 6 mos, 70 ~~~~ ~ Low ..lYA.
Neighborhood boundaries Oil Well Road to the North Desoto Boulevard to the East 1-75 to the South and 220 N/A Hi h N/A
Wilson Boulevard to the Wast. f"-cT' Predominant ~. Predominant V'
120 15 NIA NIA
Dimensions 180 x 680 Sitearea 2.81 Shape Rectanoular
Speclficroning classification and descriplion E-Estates
lllningcompliance ~Legal o legal nonconforming (Grandtathered use) CIIIB\lal,atlachdescription ONoloning
Hi{I~andbestuseolsubjectpropertvasimproved(orasproposedperplansandspecjfir;abons} DPresenttlSe o Other use, attach description.
Ut_ PubUc Other Public O1t1<lr I ;n-llIelmprovements Type Public Private
~Cly ~ ~~~~rv sewP.r ~ Well Street Macadam ~ R
Se tfc Aile
Arethere:llw annarent adverse site conditions easements encroachtTIBnts s ecialassessments slide areas etc.l? Vos fX1 No IIYes attachdescrinlion.
So~e!sl us~r physical characteristics of pro'nrtyi ~.Interio: and ~or inspeclionr 9i~erior inspectio~ from street l.JPreviousappraisalliles
MI S Assl!.O~mPnt ~n t~y reeords Pn r In ~ft,.o;on Pro~~":' owner Other m~~rrihe'
No. of Stories 1 Tllne If'Iet At!. Det. Exterior Walls CBS RoolSurface Shinnle ManufacluredHousiM Yes ['XI No
O",!he eneral conform 10 the ne' hborhood In terms ofdVIe condilion and construclion materials? Vos No MNo attachdescri 'on
~ ~ any ~a~~nt ~h~~ca~~~~::~~~~~.ondttions lhat would affect tile soundness or structural integrity of the improvements or the livability of the property?
Are there any apparem: adverse environmental conditions (hazardous wastes, toxic substances, etc,) present in the improvements, on the site, or in the immediate vicinity of
tile subject property? 0 Yes IZ No il Yes, attach description.
1 researched the su~iect market area for comparable lislinos and sales that are the most similar and proximate to the subject property.
My research revealed a total of 6 saJes ranging in sales price from S 113300 10$ 130000
My research revealed a total 01 8 listings ranging in list price from $ 114 900 to S 159 000
The analvsis of the compara~le sales bflow reflects market reaction to si nificanl variations between the sales and the sub' eel orollertv.
FEATURE SUBJECT SALE 1 SALE 2 SALE 3
1120 16th Street NE 2880 20th Avenue NE 3360 2nd Avenue NE 243510thAvenue NE
Addr....~ Na les 1:"1 ':l.11'Jn Na les FL 34120 Na les FL 34120 Na les FL 34120
Proxmltv to Su~'ect h"y 2.30 miles SE 0.95 mile, E
""',...,, NfA ~.- 125000 113300 ........ I. 126-000
PricPlGrosslivin Area en 88.90c;b-T 84,18 c;b 95.31m CC;c-
" MLS#209005546 MLS#209012875 MLS#209039668
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + $ Must DESCRIPTION +i-$Ad"ust DESCRIPTION +1 $~I
Sales or RnancilYll :;.;, Conv. Conv Conv .
Concessions
O~t~ rd ~1PJT"lm~ I., 8/09 Nominal 3/09 Nominal 12/09 Nominal
Location GGE-E.of Wilson GGE-E.of Wilson GGE-E.of Wilson GGE-E.of Wilson
5i. 2.81 2,73 Nominal 2.27 acres +6000 2.50 acres +3500
~ew Natural Similar Sim~ar Similar
I rD>c,'''n I~"'I Ranch Ranch Ranch Ranch
ActualArtIl NI5.\ 14 Effec 10) 19 Effec 10 9 Effec ,rL -4,500 8 Effec 5 .7500
C"NliMn A" Similar Sunerior InA eAd Su erior In Aoe Ad
Above Grade Total:Bdrms: Bath Totai :Bdrms: Baths Tofal:Bdrms: Baths Total : Bdrms: Baths "',"
Room Count 6 3 2 6 3 2 6 3 2 6 : 3 : 2
Gross livinn Area 1 362Sn. FI. 1406 S". Ft Nominal 1346 S. Ft. Nominal ~~1,322Sn,Ft Nominal
Basement & Finished Slab Slab Slab Slab
Rooms Below Grade
1 r~"o."'mort 2 Car Garaoe 2 Car Garaoe 2 Car Garane 2 Car Garane
other Lanai Shed Lanai ,Shed Lanai +2,000 Lanai +2,000
other "ooco "'co"' Fence Patio Enuiv None +2000 None +2000
NetAd"./tntan ~ , + - :$ 1 iX1 + I - $ 5,500 1+ n- $
Adjusted Sak:s Price "',:...;;:.,1 -- I ;''':1$ lif ">1$
of Compara~les $ 125,000 118,800 _J26QQQ.
O-ttfPrir I Not Applicable Not Annlicable NotA licable
Price of Prior Sale $ 146.500 $ $ $
Analysis of any current agreement of sale, option, or listing Of the subject property and analysis of the prior saies of subject and comparables ..~
SUlTIfI3ry of sales comparison and value conclusion: All sales cited involv~~-ro erties similar to the sub'ect in the "east of wilson" Golden Gate Estates
area. A e/condition ad'ustments are combined and reflect differences in effective a....e as er MLS data and observation, takes into account
recent im rovements at the sub'ect which include new well water ;;tem and decorative u rades All othre ad'ustments are self exolanatorv.
Moslweiahl iven to como #1 did not reauire anv ad'ustmenls -. - - --
Total Take.
-.~._._-~.- -~_._--" ..-.-.
This appraisal is made L2J "as-is', o SUbject to completion per plans and specifications on the basis ot a hypothetical condition that the improvements have been completed, or
Dsubjecttothefolklwingrepail5,atterationsorconditions ---~_._~._-
BASEDOHAH []EXTERJORIHSPECTlOHFROMTHESTREETORAN CSlINTERtOR AND EXTERIOR INSPECTION, I ESTIMATE THE MARKET VALUE, AS DEFINED, OFTHE REAL.
PROPERTYTHATISTHESUBJECTOFTHlSREPORTTOBE$ 125,000 ,ASOF _March 1, 2010
PAGE10F3
Form 205 - "WinTOTAL" Jppraisal scf':,ware by a lanode, il~c - 1-800-ALAMODE
Fannie Mae Form 20559-96
Desktop Underwriter Quantitative Analysis Appraisal Report
File No VBRx
IM~~~~~~f.;mr,~. 16810
May 11, 2010
~~~ 1 of 24
CJNo
Project Infonnatlon for PUDI Of applicable) - . Is the develollerlbuilder in control of !he Home Owners' Association (HOA)? 0 Yes
Provide the folklwing information for PUDs on~ ~ the deveJoperlbuilder is in control of the HOA and the subject property is an attached dwe~ing unit:
Total number of phases N/A Total number of units Total num~er of units sold
Total number of units rented Tolalnum~erofunitsforsale DataSource(s)
Wastheprojei:lcr63led~ytheconversionofexiStingbuildingsintoaPUD? Dyes CNo If yes ,daleof conversion'
Does the project contain any multi-dwelling units? Dyes D No Dala Source:
Are the CQIM'(In e1ernents completed? DVes D No ~No,descri~eslalusofcompletion' N/A
Are any CB/TlfTlOn elements leased to or by the Home OWrJers' Association?
Descrl~e common elements and recreationallacilities: N/A
Dves DNo
If yes, atlach addendum describing rental terms and options,
Project Information for Condominiums (If applicable) - - Is the developer/builder in control of the Home Ownars' Association (HOA)? DYes 0 No
Provide the fo!kJwing inlormation for all COndominium Projects:
Total numr of phases N/A Total number 01 unrts Total number of unns sold
Total llUlTlilerof unitsrente<l TOlal number of units for sale DataSource{s)
Was the projeclcrealed by the conversion of existing buildings into a condominium? D Ves 0 No If yes, dale of conversion'
Project Type: DPrimaryResidence o Second Home or Recreational r:] Row or Townhouse DGarden o Midrise o Highrise :::J _
Condition of the project, quality 01 construction, unnmix, etc.: N/A
Are tI1e common elements completed? eYes 0 No Ij No, describe status of completion: N/A
Are any common elements feased to or by tl1e Home Owners' Association?
Describe common elemel1ls and recrea~onal facilities: N/A
DYes DNo If yes, attach addendum describing renlaltermsand options.
PURPOSE Of APPRAISAL: The purpose of this appraisal Is 10 estimate tile market value of the real property that is the subject of this report based on a
quantilative sales comparison analysis for use in a mortgage finance transaction.
DERNITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all
conditions requisite to a fair sale. 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 dale and the passing of title from seller to buyer
under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting
in what he considers his 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.S. dollars or In terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration
for tile property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.
* Adjustments 10 the comparables must be made for special or creative financing or sales concessions No adjustments are necessary for Ihose
costs which are normally paid by sellers as a result of tradilion or law in a market area; these costs are readily identifiable since the
seller pays these costs in virtually all sales transactions. Special or creafive finanCing adjustments can be made 10 the comparable
property by comparisons to financing terms offered by a third party institutional lender that is ncrt already involved in the property or
transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar
amount of any adjustment should approximate the market's reaction to fhe financing or concessions based on the appraiser's judgment
STATEMENT OF UMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND UMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the folJowing conditions'
1. The appraiser will not be responsible for matlers of a legal nature that affect either the property being appraised orthe title 10 it. The appraiser assumes
that the tide is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the
basis of it being under responsible ownership
2. The appraiser has provided any required sketch in the appraisal report to show approximate dimensions of the improvements and the sketch
is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3, The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific
arrangements to do so have been made beforehand.
4. The appraiser has noted in the appraisal report any adverse conditions (such as, bul nollimited to, needed repairs, the presence of hazardous
wastes, loxic substances, etc.) observed during the inspection of the Subject property or thai he or she became aware of during
the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowiedge
of any hidden or unapparent conditions of the property or adverse elwironmenlal conditions (including file presence of hazardous
wastes, toxic 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, expressed or implied, regarding the condition of the property. The appraiser will not be
responSible for 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 not an eKPert in fhe field of environmenlal hazards, the appraisal report must not be considered
as an environmenlal assessment offhe property.
5. The appraiser obtained the information, estimates, and opinions thai were expressed in the appraisal report from sources that he or she considers to be
reliable and tleIieves them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by
other parties.
6. The appraiser win not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice.
7. The appraiser musl provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal
report (including conclusions about the property value, the appraiser's identity and professional designations, and references
to 3rly professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower;
the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or
federally approved financial institution; or any department, agency, or instrumentality of the United States or any stale or the District of
Columbia; except thai the lender/client may distribute the report to data collection or reporting service(s) without having to obtain the
appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be
conveyed by anyone to the public Ihmugh advertising, public relations, news, sales, or other media.
8. The appraiser has based his or her appraisal report and valualioll conclusion for an appraisal that is suojecttocompletion per plans and specifications on
on the basis ofa hypothetical condition that the improvements have beenc ompleted
9. The appraiser has hased his or her appraisal report and valuation conclusion for an appraisal that is subfect to completion, repairs, or alterations on the
assumption that completion of the improvements will oe performed in a workmanlike manner.
PAGE20F3
FOffil205 - "WinTOTAL" appraisal software by a la mode, inc. -1-80D-ALAMODE
Fannie Mae Form 2055 9-96
File No. VBRx
IMj:i;~;~~'ti~~f:mm 16510
May 11, 2010
Page 22 of 24
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the
comparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property); (2) collecting, confirming,
and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspeclion and analysis in this summary appraisal
report. I further certify that I have adequate information abootthe physical characteristics of the subject property and the comparable sales to develop
this appraisal.
2. I have researched and analyzed the comparable sales and offerings/listings in the subject market area and have reported the
comparable sales In this report that are the best available for the subject property I further certify that adequate
comparable market data exists in the general market area to develop a reliable sales comparison analysis for the subject property.
3. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in
the appraisal report. I further certify that I have noted 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, have considered these adverse
conditions in my analysis of Ihe property value to the extent that I had market evidence to support them, and have commented about the effect of
the adverse conditions on the marketability of the subject property. I have not knowingly withheld any Significant information from the appraisal
report and I believe, to the best of my knowiedge, that all statements and information in the appraisal report are true and correct.
4 I stated in the appraisal report only my own personal, unbiased, and prolessional analysis, opinions, and conclusions, which are
subject only to the contingent and limiting conditions specified in this form
5. I have no present or prospective interest in the property that is the SUbJect of this report, and I have no present or prospective personal
interest or bias with respect to the participants in Ihe transaction. I did not base, either partially or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national
origin of either the prospeclive owners or occupal1ls of the subjecl property or of the present owners or occupants of the properties
in the vicinity of the subject property or on any other basis prohibited bylaw
6. I have no present or contemplated future interest in the Subject property, and neither my current or future employment nor my
compensation for performing this appraisal is comingentontheappra ised value of the property
7, I was not required to report a predetermined value or direction in value that favors the cause of the client or any reiated party, the
amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation and/or employment for pet10rming the appraisal I did not base the appraisal report on a requesled minimum valuation,
a specificvalualion,orthe need to approve a specific mortgage loa n
8, I estimated the market vaiue of the real property that is the subject of this report based on the sales comparison approach to value. I
further certify that I considered the cost and income approaches 10 value, but, through mutual agreemel1l with ltIe cjient, did not develop them, unless
I have noted otherwise in this report.
g, I performed this appraisal as a limited
Practice that were adopted and promulgated
the effective date of the appraisal (unless I
case, the Departure Provision does not apply)
10. I acknowledge that an estimate 01 a reasonable time for exposure in the
The exposure lime associated wilh the eslimale of market value for the
in the Neighborhood section of this report The marKeting period concluded
also consistent with the marketing time noted in the Neighborhoodse clion
subject to the Departure Provision of the Uniform Standards of Professional Appraisal
the Appraisal Standards Board of The Appraisal Foundation and that were in place as of
otherwise indicated in this report that the appraisal is a complete appraisal, in which
market is a condition in the definition of market value
property is consislent with the marketing time noted
the subject property at the estimated market value is
11 I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report.
lurthercertifythatnooneprovidedsignificantpro1essionalassistanceto me in the development of this appraisal
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that:
I directly supervise the appraiser who prepared the report, have examined the appraisal report for compliance with the Uniform Standards
of Pmlessional Appraisal Practice. agree with statements and conclusions of the appraiser, agree to be bound by the appraiser's
certifications numbered 5 through 7 above, and am taking full resp onsibility lor the appraisal and the appraisal report.
APPRAISER:
SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature:
Name: Harry Henderson SRA
Company Name: Collier County Gov, TE/CM
Company Address: 2885 South Horseshoe Drive
Naples. Fb.~~__^,.~_____
Date of ReporVSignature: March 1 2010 _______ Date of ReporUSignature
SlateCertification#: RD3475 ""___~_'__'__'_'" State Certification #:
or State license #: __~___"_~.~ or State License #: ___
State: "f1...___~______.____ State: _______.__
Expiration Date of Certification or License" 11130/2010 __ Expiration Date of Certification or License:
Signature'
Name:
Company Name-
Company Address'
ADDRESS OF PROPERTY APPRAISED:
1120 16th Street NE
Naples, FL 34120
SUPERVISORY APPRAISER:
SUBJECT PROPERTY
Did not inspect subject property
Did inspect exterior of subject property from street
Did inspect interior and exterior of subject property
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from street
APPRAISED VALUE OF SUBJECT PRQPERTY $ 1~___
EFFECTIVE DATE OF APPRAISAL/INSPECTION March 1. 2010
LENDER/CLIENT:
Name: M.ip~le Sweet ._ ___~__~___
Company Name: ROW Department ___.___._____
Company Address: _" ___.______."~
PAGE30F3
Form 205 -"Wi~TOTAI' appraisal software by a la mode, inc, - 1-800-ALAMODE
Fan~ie Mae Form 2055 9-95
Subject Photo Page
Borrower/Client N/A
Pro Address 1120 16th Street NE
C Na las
lender ROW De artment
Cou Collier
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IMj:i;g;M'CJ~~fl,a,,\, MI, 16B 10
May 11, 2010
23 of 24
State Fl
Zi Code 34120
Subject Aerial
1120 16th Street NE
Sales Price N/A
Gross Living Area 1,362
Total Rooms 6
Total Bedraoms 3
Total Battlrooms 2
Location GGE-E.af Wilson
View Natural
Site 2,81
Oual!ty
Age 14 (Effec 10)
Su bject Rear
SUbject Street
Location Map
BorrowerlClient N/A
Pro Address 1120 16th Street NE
Ci Na les
Lender ROW De artmant
Cou Collier
Otilllveffll}
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10th I\V~ Nf
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12th Av~ SE
r-
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16th Ave SE~
,
IBth Ave SEI
200l/lVeSE [
~~ 22ndA'Jf!SE......
\.~. 24th Ave SE
Benloop,d ~t.. 26th Itve SE
28th Ave Sf
j
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30th Iwe SE
32nd Ave SE
34lhi\~ SE
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May 11, 2010
24 of 24
State Fl
zj Code 34120
lOth....eF'lE
8lh Ave NE
6thAveNE'
4th Iwe NE
2J!dAueNE
Golden Gn\e Blvd E
2nd A'J<'. SE
4tnAI.'tSE
6lhAve SE
61nAveSE
loth Ave SE
12thAveSE
14Ih"Ail'eSE
16t!lllveSE
18lhAve SE
2Othf,veSE ;:
2200AveSE
14!hAvt.$E
26th live SE
28lh/IVeSE
30th Aile $E
32nd/\\IeSE
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