Parcel 140
12C
PROJECT: LDOl~~
PARCEL No(s): 140
FOLIO No(s):
PURCHASE AGREEMENT
(For Improved Property)
THIS PURCHASE AGREEMENT is made and entered into on this 24 <hday
of Ap R I L , 2007, by and between RICHARD GRECO AND LYNN
GRECO, husband and wife, whose mailing address is 404 North Adams Street,
Quincy, Florida 32351, (hereinafter referred to as "Owner"), 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 certain improved property located at 771 23rd Street NW,
Naples, Florida, and more particularly described as ALL of Tract 16, Golden Gate
Estates Unit No.7, according to the plat thereof, recorded in Plat Book 4, Pages 95 and
96, of the public records of Collier County, Florida, together with all buildings, structures
and improvements, fixtures, built-in appliances, ceiling fans, floor coverings and window
treatments, and the personal property, if any, located thereon, (hereinafter collectively
and cumulatively referred to as "Property"), free from liens; and
WHEREAS, Purchaser requires the Property for right-of-way purposes as part of
the Vanderbilt 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 $1,283,988.00 (U.S.
Currency) payable at time of closing. If this Agreement includes an occupancy
provision, the Purchase Price stated above will include a deduction for all occupancy
fees due under the term of this Agreement.
3. CLOSING
A. The Closing (THE "CLOSING DATE", "DATE OF CLOSING", OR
"CLOSING") of the transaction shall be held on or before June 1, 2007, 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 entitled to possession as of
Closing, unless otherwise provided herein. Seller shall deliver the Property in
broom-clean and working condition, and free of all debris upon vacating the
premises.
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.
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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. 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-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 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 "Requirements and Conditions" 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. At Closing Purchaser shall pay Seller's attorney's fees, to the firm of
GrayRobinson, PA, in the amount of $7,000.00, and Purchaser shall pay Seller's
appraisal fees, to the firm of Calhoun, Collister & Parham, Inc., in the amount of
$4,000.00. Seller, at its sole cost and expense, shall pay at Closing all
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, and the cost of recording any instruments
necessary to clear Seller's title to the Property. The cost of the Owner's Form B
Title Policy, issued pursuant to the Commitment provided for in Article 8,
"Requirements and Conditions" below, shall be paid by Purchaser. The cost of the
title commitment shall also be paid by Purchaser.
E. Purchaser shall pay for the cost of recording the Warranty Deed. Real
Property taxes shall be prorated based on the current year's tax with due
allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller. If Closing occurs at a date which the
current year's millage is not fixed, taxes will be prorated based upon such prior
year's millage.
4. PROPERTY CONDITION DISCLOSURES
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A. General. Seller represents that Seller knows of no facts or conditions
materially affecting the value of the Property, except those which are readily
observable by Purchaser, or which have not been disclosed to Purchaser by Seller
in writing and furnished to Purchaser prior to the Effective Date of this Agreement.
B. 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 health 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.
5. INSPECTIONS
A. Inspection Period. Purchaser shall have 30 days from the Effective Date
(Inspection Period) to have the Property and improvements thereon inspected at
Purchaser's expense, and Seller shall provide access to Property for same.
B. Walk-Through 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) that the personal property items which are being
conveyed as part of this Agreement remain on the Property, (2) that the personal
property items which are not being conveyed as part of this Agreement have been
removed from the Property, and (3) that Seller has maintained the Property as
required in Article 3. Upon reasonable notice, Seller shall provide access and
utilities service to the Property to facilitate the walk-through inspection.
6. 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. 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.
7. REQUIREMENTS AND CONDITIONS FOR CLOSING
Upon execution of this Agreement by both parties or at such other time as specified
within this Article, 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 Title Insurance Policy
(ALTA 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. 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
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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 referenced in Exhibit "A," 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 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. Purchaser shall have sixty (60) days from the
Effective Date of this Agreement to notify Seller in writing of any such objections.
Should Seller elect not to or be unable to remove the encroachment, projection, or
provide legal access to the property within sixty (60) days from the date of receipt
of said notification, Purchaser, by providing written notice to Seller within seven (7)
days after expiration of said sixty (60) day period, 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. 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.
8. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES
Seller intends for Purchaser to rely on the representations contained in this Article 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 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 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.
E. No party or person other than Purchaser has any right or option to acquire
the Property or any portion thereof.
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F. 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.
G. 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 Seller's ownership thereof. Seller represents none of the
Property has been used as a sanitary landfill.
H. 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
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.
I. 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.
J. 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 perform 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.
K. 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 zoning or
physical 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.
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L. 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 "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.
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:
With a copy to:
If to Seller:
With a copy to:
Transportation Engineering & Construction Management
Attn: Kevin Hendricks
2885 South Horseshoe Drive
Naples, Florida 34104
Telephone 239-213-5844
Fax 239-213-5885
Heidi F. Ashton
Assistant County Attorney
Office of the County Attorney
Harmon Turner Building
3301 Tamiami Trail East
Naples, Florida 34112
Telephone 239-774-8400
Fax 239-774-0225
Richard Greco
404 North Adams Street
Quincy, Florida 32351
W, Campbell McLean
GrayRobinson, PA
201 North Franklin Street
Suite 2200
Tampa, Florida 33602
Telephone 813-273-5000
Fax 813-273-5145
The addressees, addresses and numbers for the purpose of this Article 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 Article 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.
10. MISCELLANEOUS
A. This Agreement may be executed in any manner of counterparts which
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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
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
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.
M. Seller may not assign, sublease, or license any rights arising under this
Agreement without the written consent of the Purchaser.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date first above written.
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Acquisition Approved by BCC pursuant to Resolution No. 2006-142 approved on the 6th
day of June, 2006, agenda item no. 10A.
AS TO PURCHASER:
DATED:,:i -24 -07
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ATTEST: ' .r
D T ~~t%:rS{Li 1X
, , Deputy Clerk
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Name (print or ype)
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Richard Greco
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Lynn Greco
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Approved as to form and
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Heidi F, Ashton
Assistant County Attorney
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