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HomeMy WebLinkAboutItem #05 Approval of Purchase of Property for Stromwater Utility at 678 S. Bluford Avee Centex of Good g AGENDA ITEM COVER SHEET Meeting Date ril 2, 2013 Item # Contact Name: Stephen C. Krug Contact Number: 6002 Reviewed By: Department Director: City Manager: Subject: Purchase of Property for Stormwater Utility at 678 S. Bluford Avenue, District 3, Commissioner Johnson. Background Summary: The Stormwater Utility has been investigating ways to provide additional stormwater treatment within the South Bluford Avenue corridor in order to comply with the Wekiva Parkway and Protection Act Master Stormwater Management Plan. One solution is to provide additional treatment along existing drainage swales through a detention pond similar to the Palm Park facility. The City was subsequently made aware of the availability of the property located at 678 S. Bluford Avenue. This property is contiguous to the drainage swale system on the former railroad right of way west of Bluford Avenue. The subject swale system ultimately drains to Lake Lotta and was identified in previous engineering studies as an area which would benefit from additional stormwater treatment. This property would provide the City a future use for stormwater treatment. The attached Commercial Real Estate Contract, City Addendum and Memorandum provide the detail of the proposed transaction which will be contingent upon satisfactorily completing the Appraisal, Phase I Environmental Site Assessment and vacancy of property. The property owners have accepted the City's offer of $490,000.00 for this commercial property listed at $549,000.00. The funding for this purchase is available in the Wekiva River Basin Capital Projects and available balances from completed Stormwater Utility projects. Public Works recommends the Commission approve the purchase of the property per the attached Contract along with the Appraisal, Environmental Site Assessment and subsequent demolition of any existing facilities remaining on the property upon completing the acquisition. The anticipated closing date would be May of this year, but is flexible to the benefit of the City. Issue: Request the City Commission to approve the purchase of property located at 678 S. Bluford Avenue. Recommendations Recommend the City Commission approve the Commercial Real Estate Sales Contract, City Addendum and Memorandum for $490,000.00 to purchase the property at 678 S. Bluford Avenue for the Stormwater Utility, authorize the Mayor and City Clerk to execute the Agreement upon satisfaction of Addendum contingencies and authorize the City Manager to secure the Appraisal, Phase I Environmental Site Assessment and demolition of any remaining structures up to the limit of his purchasing authority for each item. Attachments: Commercial Real Estate Sale Contract for 678 S. Bluford Avenue. City Addendum to Contract (Municipality as Purchaser) Financial Impact: The funding for the property purchase, Appraisal, Phase I Environmental Site Assessment and demolition of remaining structures is available in the $250,000.00 for Wekiva River Basin Capital Projects and available balances from completed Stormwater Utility projects. Type of Item: (please mark with an 'V) Public Hearing For Clerk's Dept Use: Ordinance First Reading Consent Agenda Ordinance Second Reading Public Hearing Resolution Regular Agenda x Commission Approval Discussion & Direction Original Document/Contract Attached for Execution by City Clerk Original Document/Contract Held by Department for Execution Reviewed by City Attorney N/A Reviewed by Finance Dept. N/A Reviewed by ( ) N/A 2 3/25/13 678 S Bluford Ave Home Search Feedback Lke 240 Searches Q Sales Search ®Results Details My Favorites Sign up to, e- Nohfy.. 678 S Mulford Ave ` 17- 22 -28- 6144 -04 -191 i o16 Cllck To View Or Upload � ^cui c ys srectnd„ros � Jagdeo Yodananda G 678 S Bluford Ave Jagdeo Omwhatie Pasta) ory and zlp F N Ocoee, FL 34761 1.... Geneva Apartments Pinpeicy Use �IuNll+r Mailing Address on File 0300 - Multi 10+ Uts 1846 Vale Dr Clermont, FL 34711 -5101 P9 nlopaliN 282217614404191 1110711 2006 Ocoee - - -- - i Matl Aod—,' Values, Exemptions and Taxes Property Features Sales Analysis Location Info updatelnformation Parcel Sales History Sale Date Sale Amount Instrument # Book /Page Seller(s) Buyer(s) Deed Code Vac/Imp 08/23/2004 $555,000 20040564506 07601/ 0831 Doome Robert G Jagdeo Yodananda G Warranty Deed Improved - -.- Doome Shawn M Jagdeo Omwhatie 06/19/1998 $100 .. 199802/02 -... 60 05520/ 2550 Doome Robert G Doome G . Quitclaim Deed - -----......- Improved - - - -_ _ Doome Shawn M 08/25/1993 $243 700 19934602408 04622 / „ Rivera Victor M Doome Robert G Warranty Deed Improved 06/16/1989 $275,000 19893281Tt75 04090/4523 Warranty Deed -- . ---- .............. Imp-roved 10/01/1984 $235,000 19842201 03562/ 0894 Warranty Deed Improved 12/01/1981 $175000 - - - -. -.. .......- - 03246/0712 11811 --- .. Warranty Deed - ---- .. -___. Improved Similar Sales In Subdivision Within Last 1 Year Sales Analysis Too[ Address Sale Date Sale Amount $ /SQFT Deed Code Beds /Baths Instrument # Book /Page There are no similar sales to display This Data Printed on 03/25/2013 and System Data Last Refreshed on 03/24/2013 Site Notice • About Us • Contact Us • OCPAFL Home • Property Search Orange County Property Appraiser • 200 S. Orange Avenue, Suite 1700 • Orlando, FL 32801 Office Hours. 8,00 a.m. to 5:00 p.m. Monday - Friday • Phone: 407.836 5044 Copyright © 2010 Orange County Property Appraiser. All rights reserved. vmw.ocpafl.org /searches /ParcelSearch.aspx 1/1 OCPA Web Map Major Roads Parks 6 Lot Number Florida turnpike Public Roads Agricultural Interstate 4 Gated Roads �wa Toll Road Road Under Block Line O Commercial/ Institutional Hydro O Construction —•• —•• Proposed Roa n Residential commerciau Industrial Parks 6 Lot Number Vacant Land — Brick Road Agriculture Agricultural , � ^ i., Lakes and 60 Parcel Number Curtilage Rivers X 60 Block Line O Commercial/ Institutional Hydro O Building 3106 Parcel Addres vovernmentau Lot Line Institutional/ Waste Land Block Number 111.9 Parcel Dimens Misr. rtesy Rick Singh, Orange County Property Apprais W d M G j L i P� r+ �i �a b n :t] ity Traffic • 9,770 3 5m 30ft Created: 3/25/2013 This map Is for reference only ano is not a survey. () Ciosseft o ll EAL TY March 22, 2013 Rob Frank City Manager 150 N Lakeshore Drive, Ocoee, FL 34761 Re: Purchase of 678 S. Bluford Avenue, Ocoee FL 34761 Hello Rob, Attached please find a contract, addenda and memorandum signed by the Sellers for the above referenced property. Please feel free to contact me with any questions or concerns. Sincerely, Gl u� 1 >7 . Pam Bozkurt 1, e -PRO, RECS, EcoBroker®, GREEN Broker / Owner ° 'For Voar Read .Esfafe Nee A 118 W. McKey St. • Ocoee, FL 34761 • Office: 407- 654 -6688 • Fax: 407- 654 -6718 • www.gosselinrealty.com Commercial Contract R © 6 � y FloridaRealtors 1 1. PARTIES AND PROPERTY: City of Ocoee ( "Buyer ") 2 agrees to buy and Yodananda G. Jagdeo & omwhatie Jagdeo ( "Seller ") 3 agrees to sell the property as: Street Address: 678 S. $luford A ve. , Ocoee, FL 34761 4• 5 Legal Description: See page 7 for full legal description. 6 r and the following Personal Property: s� s (all collectively referred to as the "Property ") on the terms and conditions set forth below. 1o• 2. PURCHASE PRICE: $ 490,000.00 11` (a) Deposit held in escrow by Florida Title and Guarantee $ 5 12 ( " Escrow Agent (checks are subject to actual and final collection) 13' Escrow Agent's address: 2295 S.Riawassee Road, Suite 10 Phone: 407- 406 -5313 14• (b) Additional deposit to be made to Escrow Agent within days after Effective Date $ 15* (c) Additional deposit to be made to Escrow Agent within days after Effective Date $ 16• (d) Total financing (see Paragraph 5) $ .00 17* (e) Other $ 16 (f) All deposits will be credited to the purchase price at closing. Balance to close, subject 19' to adjustments and prorations, to be paid with locally drawn cashier's or official bank $ 485, 000.00 20 check(s) or wire transfer 21 3. TIME FOR ACCEPTANCE; EFFECTIVE DATE; COMPUTATION OF TIME: Unless this offer is signed by Seller 22- and Buyer and an executed copy delivered to all parties on or before 5pm on 3/20/13 , this offer will be 23 withdrawn and the Buyer's deposit, if any, will be returned. The time for acceptance of any counter offer will be 3 24 days from the date the counter offer is delivered. The "Effective Date" of this Contract is the date on which the 25 last one of the Seller and Buyer has signed or initialed and delivered this offer or the final counter offer. 26 Calendar days will be used when computing time periods, except time periods of 5 days or less. Time periods of 5 27 days or less will be computed without including Saturday, Sunday, or national legal holidays. Any time period ending 28 on a Saturday, Sunday, or national legal holiday will extend until 5:00 p.m. of the next business day. Time is of the 29 essence in this Contract. 3o 4. CLOSING DATE AND LOCATION: 31• (a) Closing Date: This transaction will be closed on 5/31/2013 (Closing Date), unless specifically 32 extended by other provisions of this Contract. The Closing Date will prevail over all other time periods including, but 33 not limited to, Financing and Due Diligence periods. In the event insurance underwriting is suspended on Closing 34 Date and Buyer is unable to obtain property insurance, Buyer may postpone closing up to 5 days after the 35 insurance underwriting suspension is lifted. 36* Buyer ( U and Seller " . ( acknowledge receipt of a copy of this page, which is Page 1 of 8 Pages. 7 CC -4 Rev. 12110 02010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA BOZKLTRT - GOSSBLIN REALTY] www.transactiondesk.com. 1915W/o' rms 37• (b) Location: Closing will take place in orange County, Florida. (If left blank, closing 38 will take place in the county where the property is located.) Closing may be conducted by mail or electronic means. 39 5. THIRD PARTY FINANCING: 4o• BUYER'S OBLIGATION: Within days (5 days if left blank) after Effective Date, Buyer will apply for third party 41" financing in an amount not to exceed % of the purchase price or $ , with a fixed interest rate 42• not to exceed % per year with an initial variable interest rate not to exceed %, with points or commitment 43` or loan fees not to exceed % of the principal amount, for a term of years, and amortized over 44 years, with additional terms as follows: 45' 46 Buyer will timely provide any and all credit, employment, financial and other information reasonably required by any 47" lender. Buyer will use good faith and reasonable diligence to (i) obtain Loan Approval within days (45 days if 48 left blank) from Effective Date (Loan Approval Date), (ii) satisfy terms and conditions of the Loan Approval, and 49 (iii) close the loan. Buyer will keep Seller and Broker fully informed about loan application status and authorizes the 5o mortgage broker and lender to disclose all such information to Seller and Broker. Buyer will notify Seller immediately 51 upon obtaining financing or being rejected by a lender. CANCELLATION: If Buyer, after using good faith and 52• reasonable diligence, fails to obtain Loan Approval by Loan Approval Date, Buyer may within days (3 days if left 53 blank) deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract. 54 If Buyer does neither, then Seller may cancel this Contract by delivering written notice to Buyer at any time 55 thereafter. Unless this financing contingency has been waived, this Contract shall remain subject to the 56 satisfaction, by closing, of those conditions of Loan Approval related to the Property. DEPOSIT(S) (for purposes 57 of Paragraph 5 only): If Buyer has used good faith and reasonable diligence but does not obtain Loan 58 Approval by Loan Approval Date and thereafter either party elects to cancel this Contract as set forth above or the 59 lender fails or refuses to close on or before the Closing Date without fault on Buyer's part, the Deposit(s) shall be 6o returned to Buyer, whereupon both parties will be released from all further obligations under this Contract, except for 61 obligations stated herein as surviving the termination of this Contract. If neither party elects to terminate this Contract 62 as set forth above or Buyer fails to use good faith or reasonable diligence as set forth above, Seller will be entitled to 63 retain the Deposit(s) if the transaction does not close. 84- 6. TITLE: Seller has the legal capacity to and will convey marketable title to the Property by © statutory warranty 65- deed ❑ other , free of liens, easements and encumbrances of record or 66 known to Seller, but subject to property taxes for the year of closing; covenants, restrictions and public utility 67 easements of record; existing zoning and governmental regulations; and (list any other matters to which title will be 68- subject) 69' 70 provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the 71` Property as 72 (a) Evidence of Title: The party who pays the premium for the title insurance policy will select the closing agent 73' and pay for the title search and closing services. Seller will, at (check one) p Seller's ❑ Buyer's expense and 74* within _ days ❑ after Effective Date ❑ or at least 2s days before Closing Date deliver to Buyer (check one) 75• p (i.) a title insurance commitment by a Florida licensed title insurer setting forth those matters to be 76 discharged by Seller at or before Closing and, upon Buyer recording the deed, an owner's policy in the amount 77 of the purchase price for fee simple title subject only to exceptions stated above. If Buyer is paying for the 78 evidence of title and Seller has an owner's policy, Seller will deliver a copy to Buyer within 15 days after 79 Effective Date. 80* ❑ (ii.) an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an 81 existing firm. However, if such an abstract is not available to Seller, then a prior owner's title policy acceptable 82 to the proposed insurer as a base for reissuance of coverage may be used. The prior policy will include copies 63 of all policy exceptions and an update in a format acceptable to Buyer from the policy effective date and 84 certified to Buyer or Buyer's closing agent together with copies of all documents recited in the prior policy and 85 in the update. If such an abstract or prior policy is not available to Seller then (i.) above will be the evidence of 86 title. 87 (b) Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller 88 of title defects. Title will be deemed acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or 89• Buyer � ) (_) and Seller �Lf) ( acknowledge receipt of a copy of this page, which is Page 2 of 8 Pages. CC -4 Rev. 12110 02010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA BOZRIIRT - GOSSELIN REALTY] www.transactiondesk.com. /Qsta.*�t 90* (2) Buyer delivers proper written notice and Seller cures the defects within _ days from receipt of the notice 91 ( " Curative Period "). If the defects are cured within the Curative Period, closing will occur within 10 days from receipt 92 by Buyer of notice of such curing. Seller may elect not to cure defects if Seller reasonably believes any defect 93 cannot be cured within the Curative Period. If the defects are not cured within the Curative Period, Buyer will have 94 10 days from receipt of notice of Seller's inability to cure the defects to elect whether to terminate this Contract or 95 accept title subject to existing defects and close the transaction without reduction in purchase price. 96 (c) Survey: (check applicable provisions below) 97' ® ( i.)Seller will, within s days from Effective Date, deliver to Buyer copies of prior surveys, plans, 98 specifications, and engineering documents, if any, and the following documents relevant to this transaction: 99• 100 prepared for Seller or in Seller's possession, which show all currently existing structures. In the event this 101 transaction does not close, all documents provided by Seller will be returned to Seller within 10 days from the 102 date this Contract is terminated. 103' p Buyer will, at ❑ Seller's © Buyer's expense and within the time period allowed to deliver and examine title 104 evidence, obtain a current certified survey of the Property from a registered surveyor. If the survey reveals 105• encroachments on the Property or that the improvements encroach on the lands of another, ❑ Buyer will 106* accept the Property with existing encroachments ❑ such encroachments will constitute a title defect to be 107 cured within the Curative Period. 108 (d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress log 7. PROPERTY CONDITION: Seller will deliver the Property to Buyer at the time agreed in its present "as is" 110 condition, ordinary wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition. 111 Seller makes no warranties other than marketability of title. In the event that the condition of the Property has 112 materially changed since the expiration of the Due Diligence Period, Buyer may elect to terminate the Contract and 113 receive a refund of any and all deposits paid, plus interest, if applicable. By accepting the Property "as is ", Buyer 114 waives all claims against Seller for any defects in the Property. (Check (a) or (b)) 115* ❑ ( a) As Is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its "as is" 116 condition. 117• p ( b) Due Diligence Period: Buyer will, at Buyer's expense and within 45 days from Effective Date ( "Due 118 Diligence Period "), determine whether the Property is suitable, in Buyer's sole and absolute discretion, for Buyer's 119 intended use and development of the Property as specified in Paragraph 6. During the Due Diligence Period, 120 Buyer may conduct any tests, analyses, surveys and investigations ( "Inspections ") which Buyer deems necessary 121 to determine to Buyer's satisfaction the Property's engineering, architectural, environmental properties; zoning and 122 zoning restrictions; flood zone designation and restrictions; subdivision regulations; soil and grade; availability of 123 access to public roads, water, and other utilities; consistency with local, state and regional growth management and 124 comprehensive land use plans; availability of permits, government approvals and licenses; compliance with 125 American with Disabilities Act; absence of asbestos, soil and ground water contamination; and other inspections 126 that Buyer deems appropriate to determine the suitability of the Property for Buyer's intended use and 127 development. Buyer will deliver written notice to Seller prior to the expiration of the Due Diligence Period of 128 Buyer's determination of whether or not the Property is acceptable. Buyer's failure to comply with this notice 129 requirement will constitute acceptance of the Property in its present "as is" condition. Seller grants to Buyer, its 130 agents, contractors and assigns, the right to enter the Property at any time during the Due Diligence Period for the 131 purpose of conducting Inspections; provided, however, that Buyer, its agents, contractors and assigns enter the 132 Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seller harmless from losses, 133 damages, costs, claims and expenses of any nature, including attorneys' fees at all levels, and from liability to any 134 person, arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer will not engage 135 in any activity that could result in a mechanic's lien being filed against the Property without Seller's prior written 136 consent. In the event this transaction does not close, (1) Buyer will repair all damages to the Property resulting 137 from the Inspections and return the Property to the condition it was in prior to conduct of the Inspections, and 138 (2) Buyer will, at Buyer's expense release to Seller all reports and other work generated as a result of the 139 Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seller agrees that Buyer's 140 deposit will be immediately returned to Buyer and the Contract terminated. 141 (c) Walk- through Inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the 142• Buyer (_) (—J and Seller () acknowledge receipt of a copy of this page, which is Page 3 of 8 Pages. CC-4 Rev. 12/10 ©2010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA HOZRURT - GOSSELIN REALTY] www.transactiondesk.com. /Qstalict 143 parties, conduct a final "walk- through" inspection of the Property to determine compliance with this paragraph and 144 to ensure that all Property is on the premises. 145 8. OPERATION OF PROPERTY DURING CONTRACT PERIOD: Seller will continue to operate the Property and any 146 business conducted on the Property in the manner operated prior to Contract and will take no action that would 147 adversely impact the Property, tenants, lenders or business, if any. Any changes, such as renting vacant space, that 148• materially affect the Property or Buyer's intended use of the Property will be permitted © only with Buyer's consent 149• ❑ without Buyer's consent. 15o 9. CLOSING PROCEDURE: Unless otherwise agreed or stated herein, closing procedure shall be in accordance with 151 the norms where the Property is located. 152 (a) Possession and Occupancy: Seller will deliver possession and occupancy of the Property to Buyer at 153 closing. Seller will provide keys, remote controls, and any security /access codes necessary to operate all locks, 154 mailboxes, and security systems. 155 (b) Costs: Buyer will pay Buyer's attorneys' fees, taxes and recording fees on notes, mortgages and financing 156 statements and recording fees for the deed. Seller will pay Seller's attorneys' fees, taxes on the deed and 157 recording fees for documents needed to cure title defects. If Seller is obligated to discharge any encumbrance at or 158 prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances. 159 (c) Documents: Seller will provide the deed; bill of sale; mechanic's lien affidavit; originals of those assignable 160 service and maintenance contracts that will be assumed by Buyer after the Closing Date and letters to each 161 service contractor from Seller advising each of them of the sale of the Property and, if applicable, the transfer of its 162 contract, and any assignable warranties or guarantees received or held by Seller from any manufacturer, 163 contractor, subcontractor, or material supplier in connection with the Property; current copies of the condominium 164 documents, if applicable; assignments of leases, updated rent roll; tenant and lender estoppels letters; tenant 165 subordination, non - disturbance and attornment agreements (SNDAs) required by the Buyer or Buyer's lender; 166 assignments of permits and licenses; corrective instruments; and letters notifying tenants of the change in 167 ownership /rental agent. If any tenant refuses to execute an estoppels letter, Seller will certify that information 168 regarding the tenant's lease is correct. if Seller is an entity, Seller will deliver a resolution of its Board of Directors 169 authorizing the sale and delivery of the deed and certification by the appropriate party certifying the resolution and 170 setting forth facts showing the conveyance conforms to the requirements of local law. Seller will transfer security 171 deposits to Buyer. Buyer will provide the closing statement, mortgages and notes, security agreements, and 172 financing statements. 173 (d) Taxes and Prorations: Real estate taxes, personal property taxes on any tangible personal property, bond 174 payments assumed by Buyer, interest, rents (based on actual collected rents), association dues, insurance 175 premiums acceptable to Buyer, and operating expenses will be prorated through the day before closing. If the 176 amount of taxes for the current year cannot be ascertained, rates for the previous year will be used with due 177 allowance being made for improvements and exemptions. Any tax proration based on an estimate will, at request 178 of either party, be readjusted upon receipt of current year's tax bill; this provision will survive closing. 179 (e) Special Assessment Liens: Certified, confirmed, and ratified special assessment liens as of the Closing Date 180 will be paid by Seller. If a certified, confirmed, and ratified special assessment is payable in installments, Seller will 181 pay all installments due and payable on or before the Closing Date, with any installment for any period extending 182 beyond the Closing Date prorated, and Buyer will assume all installments that become due and payable after the 183 Closing Date. Buyer will be responsible for all assessments of any kind which become due and owing after Closing 184 Date, unless an improvement is substantially completed as of Closing Date. If an improvement is substantially 185 completed as of the Closing Date but has not resulted in a lien before closing, Seller will pay the amount of the last 186 estimate of the assessment. This subsection applies to special assessment liens imposed by a public body and 187 does not apply to condominium association special assessments. 188 (f) Foreign Investment in Real Property Tax Act (FIRPTA): If Seller is a "foreign person" as defined by FIRPTA, 189 Seller and Buyer agree to comply with Section 1445 of the Internal Revenue Code. Seller and Buyer will 190 complete, execute, and deliver as directed any instrument, affidavit, or statement reasonably necessary to comply 191 with the FIRPTA requirements, including delivery of their respective federal taxpayer identification numbers or 192' Buyer (_) ( and Seller (126) acknowledge receipt of a copy of this page, which is Page 4 of 8 Pages CC -4 Rev. 12/10 ©2010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA BOZRIIRT - GOSSELIN REALTY] www.transactiondesk.com. iQstM&t 193 Social Security Numbers to the closing agent. If Buyer does not pay sufficient cash at closing to meet the 194 withholding requirement, Seller will deliver to Buyer at closing the additional cash necessary to satisfy the 195 requirement. 1g6 10. ESCROW AGENT: Seller and Buyer authorize Escrow Agent or Closing Agent (collectively "Agent ") to 197 receive, deposit, and hold funds and other property in escrow and, subject to collection, disburse them in accordance 198 with the terms of this Contract. The parties agree that Agent will not be liable to any person for misdelivery of 199 escrowed items to Seller or Buyer, unless the misdelivery is due to Agent's willful breach of this Contract or gross zoo negligence. If Agent has doubt as to Agent's duties or obligations under this Contract, Agent may, at Agent's option, 201 (a) hold the escrowed items until the parties mutually agree to its disbursement or until a court of competent 202 jurisdiction or arbitrator determines the rights of the parties or (b) deposit the escrowed items with the clerk of 203 the court having jurisdiction over the matter and file an action in interpleader. Upon notifying the parties of such action, 2o4 Agent will be released from all liability except for the duty to account for items previously delivered out of escrow. If 2o6 Agent is a licensed real estate broker, Agent will comply with Chapter 475, Florida Statutes. In any suit in which Agent 206 interpleads the escrowed items or is made a party because of acting as Agent hereunder, Agent will recover 207 reasonable attorney's fees and costs incurred, with these amounts to be paid from and out of the escrowed items and 208 charged and awarded as court costs in favor of the prevailing party. 209 11. CURE PERIOD: Prior to any claim for default being made, a party will have an opportunity to cure any alleged 210 default. If a party fails to comply with any provision of this Contract, the other party will deliver written notice to the non- 211- complying party specifying the non - compliance. The non - complying party will have 5 days (5 days if left blank) after 212 delivery of such notice to cure the non - compliance. Notice and cure shall not apply to failure to close. 213 12. RETURN OF DEPOSIT: Unless otherwise specified in the Contract, in the event any condition of this Contract is 214 not met and Buyer has timely given any required notice regarding the condition having not been met, Buyer's deposit 215 will be returned in accordance with applicable Florida Laws and regulations. 216 13. DEFAULT: 217 (a) In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make 218 the title marketable after diligent effort, Buyer may either (1) receive a refund of Buyer's deposit(s) or (2) seek 219 specific performance. If Buyer elects a deposit refund, Seller will be liable to Broker for the full amount of the 220 brokerage fee. 221 (b) In the event the sale is not closed due to any default or failure on the part of Buyer, Seller may either (1) retain 222 all deposit(s) paid or agreed to be paid by Buyer as agreed upon liquidated damages, consideration for the 223 execution of this Contract, and in full settlement of any claims, upon which this Contract will terminate or (2) seek 224 specific performance. If Seller retains the deposit, Seller will pay the Brokers named in Paragraph 20 fifty percent 225 of all forfeited deposits retained by Seller (to be split equally among the Brokers) up to the full amount of the 226 brokerage fee. If Buyer fails to timely place a deposit as required by this Contract, Seller may either (1) terminate 227 the Contract and seek the remedy outlined in this subparagraph or (2) proceed with the Contract without waiving 228 any remedy for Buyer's default. 229 14. ATTORNEY'S FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract, the 230 prevailing party, which for purposes of this provision will include Buyer, Seller and Broker, will be awarded reasonable 231 attorneys' fees, costs, and expenses. 232 15. NOTICES: All notices will be in writing and may be delivered by mail, overnight courier, personal delivery, or 233 electronic means. Parties agree to send all notices to addresses specified on the signature page(s). Any notice, 234 document, or item given by or delivered to an attorney or real estate licensee (including a transaction broker) 235 representing a party will be as effective as if given by or delivered to that party. 236 16. DISCLOSURES: 237 (a) Commercial Real Estate Sales Commission Lien Act: The Florida Commercial Real Estate Sales 238 Commission Lien Act provides that a broker has a lien upon the owner's net proceeds from the sale of commercial 239 real estate for any commission earned by the broker under a brokerage agreement. The lien upon the owner's net 240• Buyer ) ( and Seller `-a tv� 1 acknowledge receipt of a copy of this page, which is Page 5 of 8 Pages. CC -4 Rev. 12/10 02010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA BOZKURT - GOSSELIN REALTY] www.transactiondesk.com. I RS A kn is 241 proceeds is a lien upon personal property which attaches to the owner's net proceeds and does not attach to any 242 interest in real property. This lien right cannot be waived before the commission is earned. 243 (b) Special Assessment Liens Imposed by Public Body: The Property may be subject to unpaid special 244 assessment lien(s) imposed by a public body. (A public body includes a Community Development District.) Such 245 liens, if any, shall be paid as set forth in Paragraph 9(e). 246 (c) Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in 247 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 248 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon 249 and radon testing may be obtained from your county public health unit. 250 (d) Energy- Efficiency Rating Information: Buyer acknowledges receipt of the information brochure required by 251 Section 553.996, Florida Statutes. 252 17. RISK OF LOSS: 253 (a) If, after the Effective Date and before closing, the Property is damaged by fire or other casualty, Seller will bear 254 the risk of loss and Buyer may cancel this Contract without liability and the deposit(s) will be returned to Buyer. 255 Alternatively, Buyer will have the option of purchasing the Property at the agreed upon purchase price and Seller 256 will credit the deductible, if any and transfer to Buyer at closing any insurance proceeds, or Seller's claim to any 257 insurance proceeds payable for the damage. Seller will cooperate with and assist Buyer in collecting any such 258 proceeds. Seller shall not settle any insurance claim for damage caused by casualty without the consent of the 259 Buyer. 260 (b) If, after the Effective Date and before closing, any part of the Property is taken in condemnation or under the 261 right of eminent domain, or proceedings for such taking will be pending or threatened, Buyer may cancel this 262 Contract without liability and the deposit(s) will be returned to Buyer. Alternatively, Buyer will have the option of 263 purchasing what is left of the Property at the agreed upon purchase price and Seller will transfer to the Buyer at 264 closing the proceeds of any award, or Seller's claim to any award payable for the taking. Seller will cooperate with 265 and assist Buyer in collecting any such award. 266.18. ASSIGNABILITY; PERSONS BOUND: This Contract may be assigned to a related entity, and otherwise © is 267` not assignable ❑ is assignable. If this Contract may be assigned, Buyer shall deliver a copy of the assignment 268 agreement to the Seller at least 5 days prior to Closing. The terms "Buyer," "Seller" and "Broker" may be singular or 269 plural. This Contract is binding upon Buyer, Seller and their heirs, personal representatives, successors and assigns 270 (if assignment is permitted). 271 19. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and Seller. 272 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party to be bound. 273 Signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated 274 electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or 275 typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract 276 is or becomes invalid or unenforceable, all remaining provisions will continue to be fully effective. This Contract will be 277 construed under Florida law and will not be recorded in any public records. 27s 20. BROKERS: Neither Seller nor Buyer has used the services of, or for any other reason owes compensation to, 279 a licensed real estate Broker other than: 280* (a) Seller's Broker: Prudential Florida Realty Mary Rambhacus 281 (Company Name) (Licensee) 282• 2295 S.Hiawassee Rd Ste 104,Orlando,FL 32835 Ph:407- 352 -1998 rax:407- 294 -7662 rambhac @aol.com 283 (Address, Telephone, Fax, E -mail) 284' who ❑ is a single agent ❑ is a transaction broker ❑ has no brokerage relationship and who will be compensated 285' by © Seller ❑ Buyer ❑ both parties pursuant to ❑ a listing agreement ❑ other (specify) 286' 287' Buyer (___) and Seller 1 ( acknowledge receipt of a copy of this page, which is Page 6 of 8 Pages. CC-4 Rev. 12/10 ®2010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA BOZRIIRT - GOSSELIN REALTY] www.transactiondesk.com. Igsta 286* (b) Buyer's Broker GOSSELIN REALTY PAMELA BOZKURT 289 (Company Name) (Licensee) 290* 118 W. McKey St., Ocoee, FL 34761 Ph:407- 654 -6688 Fax:407- 654 -6718 pam@gosselinrealty.com 291 (Address, Telephone, Fax, E -mail) 292* who ❑ is a single agent p Is a transaction broker ❑ has no brokerage relationship and who will be compensated 293 by x❑ Seller's Broker ❑ Seller ❑ Buyer ❑ both parties pursuant to p an MLS offer of compensation ❑ other (specify) 294* 3.06 295 (collectively referred to as "Broker") in connection with any act relating to the Property, including but not limited to 296 inquiries, introductions, consultations, and negotiations resulting in this transaction. Seller and Buyer agree to 297 indemnify and hold Broker harmless from and against losses, damages, costs and expenses of any kind, including 298 reasonable attorneys' fees at all levels, and from liability to any person, arising from (1) compensation claimed which is 299 inconsistent with the representation in this Paragraph, (2) enforcement action to collect a brokerage fee pursuant to 300 Paragraph 10, (3) any duty accepted by Broker at the request of Seller or Buyer, which is beyond the scope of 301 services regulated by Chapter 475, Florida Statutes, as amended, or (4) recommendations of or services provided and 302 expenses incurred by any third party whom Broker refers, recommends, or retains for or on behalf of Seller or Buyer. 303 21. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to 304 this Contract): 305* ❑ Arbitration ❑ Seller Warranty ❑ Existing Mortgage 306* ❑ Section 1031 Exchange ❑ Coastal Construction Control Line ❑ Buyer's Attorney Approval 307* ❑ Property Inspection and Repair ❑ Flood Area Hazard Zone ❑ Seller's Attorney Approval 308* ❑ Seller Representations ❑ Seller Financing p Other Appraisal Contingency 309 22. ADDITIONAL TERMS: 1. Addendum to Contract (See attached) "Municipality as Purchaser" 310* 311* 312* 313* 314, *Legal Description from pg 1: "7601/0831 RECORDED WITHOUT A LEGAL -- TOWN OF OCOEE A /100 THAT PART OF 315 *LOTS 19 & 20 DESC AS ALL OF LOT 19 LYING E OF RR & BEG SE COR LOT 20 RUN W ALONG S LINE LOT 20 TO R/W OF RR TH NWLY ALONG R/W 25.4 FT E TO PT ON 316 *E LINE LOT 20 4 FT N OF BEG TH S TO BEG BLK 4 (LESS BEG INTERSEC OF WLY 317 *R /W LINE OF SR 439 & S LINE OF LOT 19 TH S 88 DEG W 15 FT N 44 DEG E 21.43 FT S 15 FT TO POB)" 318* 319* 320* 321 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE 322 ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL 323 FACTS AND REPRESENTATIONS THAT ARE IMPORTANT TO THEM AND TO CONSULT AN APPROPRIATE 324 PROFESSIONAL FOR LEGAL ADVICE (FOR EXAMPLE, INTERPRETING CONTRACTS, DETERMINING THE 325 EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF TITLE, FOREIGN INVESTOR 326 REPORTING REQUIREMENTS, ETC.) AND FOR TAX, PROPERTY CONDITION, ENVIRONMENTAL AND OTHER 327 ADVICE. BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUPY THE PROPERTY AND THAT ALL 328 REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON SELLER 329 REPRESENTATIONS OR PUBLIC RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF 33o THE REPRESENTATION. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS 331 AND GOVERNMENTAL AGENCIES FOR VERIFICATION OF THE PROPERTY CONDITION, SQUARE FOOTAGE 332 AND FACTS THAT MATERIALLY AFFECT PROPERTY VALUE. 333* Buyer (_) ( and Seller t / � (C7 ) acknowledge receipt of a copy of this page, which is Page 7 of 8 Pages. CC -4 Rev. 12/10 02010 Florida Association of REALTORS All Rights Reserved This software is licensed to [PAMELA BOZKURT - GOSSELIN REALTY] www.transactiondeak.com. 334 Each person signing this Contract on behalf of a party that is a business entity represents and warrants to the other 335 parry that such signatory has full power and authority to enter into and perform this Contract in accordance with its 336 terms and each person executing this Contract and other documents on behalf of such party has been duly authorized 337 to do so. 338* 339 (Signature of Buyer) 340* CITY OF OCOEE 341 (Typed or Printed Name of Buyer) 342* Title: 343* 344 (Signature of Buyer) 345* 346 (Typed or Printed Name of Buyer) 347* Title: Date: Tax ID No: Telephone: Date: Tax ID No: Telephone: 348 Buyer's Address for purpose of notice: 1 50 N. Lakeshore Drive, Ocoee FL 34761 349* Facsimile: Email: 350* Q C�A Date: _ 351 (i na eller) 352* YODANANDA G. JAGDEO Tax ID No: 353 (Typed or Printed Name of Seller) 354 Title: �,Q ! Telephone: 355* Date: 356 (Signature of Selle 357* __ OhrAHATIE JAGDEO Tax ID No: 358 (Typed or Printed Name of Seller) 359-Title: Telephone: 360-Seller's Address for purpose of notice: 361* Facsimile: Email: The Florida Association of REALTORS makes no representation as to the legal validity or adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR REALTOR® is a registered collective membership mark which may be used only by real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS and who subscribe to its Code of Ethics. The copyright laws of the United States (17 U.S. Code) forbid the unauthorized reproduction of this form by any means including facsimile or computerized forms. 362* Buyer (_ ) (_) and Seller 0) t vim) acknowledge receipt of a copy of this page, which is Page 8 of 8 Pages. CC -4 Rev. 12/10 02010 Florida Association of REALTORS' All Rights Reserved This software is licensed to (PAMELA BOZKURT - GOSSELIN REALTY] www.transactiondesk.com. 19-sta ADDENDUM TO CONTRACT (Municipality as Purchaser) THIS ADDENDUM TO CONTRACT forms a part of that certain COMMERCIAL CONTRACT CC -4 (the "Contract ") dated March _, 2013 by and between YODANANDA G. JAGDEO and OMWHATIE JAGDEO ( "Seller ") and the CITY OF OCOEE, a Florida municipal corporation, whose address is 150 North Lakeshore Drive, Ocoee, Florida 32761 ( "Buyer ") for the purchase and sale of certain real property described as 678 S. Bluford Avenue, Ocoee FL 34761 (the "Property "). 1. Confirmation Except as specifically modified by this Addendum, the Contract remains unmodified and in full force and effect and is hereby ratified and reaffirmed by the parties. In the event of a conflict between this Addendum and the Contract, the terms of this Addendum shall control. 2. Purchase by Municipality Seller acknowledges that the Buyer is a Florida municipal corporation which is authorized to purchase real property pursuant to Chapter 166, Florida Statutes and that the conveyance of the Property shall occur under the threat of condemnation. Pursuant to Section 12B- 4.013(4), Florida Administrative Code, the Buyer hereby determines and gives written notice to Seller that Buyer has decided to acquire the Property and that Buyer is prepared to institute condemnation proceedings to acquire the Property in the event Seller does not agree to sell the Property to Buyer in accordance with the terms and conditions of the Contract. This paragraph is included for the purpose of documenting that the conveyance of the Property is to be made by Seller to Buyer under threat of condemnation and that the conveyance is not subject to the Florida documentary stamp tax. 3. Real Property Taxes Real property taxes in connection with the conveyance of the Property shall be prorated as of the day of the acceptance of the conveyance by the City and the prorated amount shall be paid by the Seller and shall be escrowed in accordance with the provisions of Section 196.295, Florida Statutes. Notwithstanding the foregoing, if the Closing occurs between November 1 and December 31, then Seller shall pay all ad valorem taxes for the entire year of the Closing. 4. Default In the event of a default by either party hereunder it is agreed that the exclusive remedies for such default shall be for the non - defaulting party to either: (1) terminate the Contract whereupon the parties hereto shall thereafter be relieved of all rights and obligations hereunder except for those rights and obligations which expressly survive the termination of the Contract, or (2) seek and obtain specific performance of the Contract. IT IS SPECIFICALLY AGREED BETWEEN THE PARTIES THAT NEITHER PARTY WILL HAVE A CLAIM FOR DAMAGES AGAINST THE OTHER PARTY IN THE EVENT OF A DEFAULT BY THE OTHER PARTY. Prior to either party declaring the other party in default hereunder, it is agreed that the non - defaulting party shall give written notice to the defaulting party setting forth with specificity the alleged default and the defaulting party shall thereafter have twenty (20) days to cure any such default; provided, however, that no notice shall be required to declare a default based upon the failure to close on the Closing Date. Notwithstanding anything contained in the Contract to the contrary, the City's indemnification obligations, if any, shall be limited to those provided by law. 5. Negotiated Price to be Without Prejudice The purchase price for the Property specified in the Contract was negotiated by the parties on the basis of a total price for the Property and shall be without prejudice to any party, and inadmissible in any court proceedings which might hereinafter be brought if the City for any reason does not acquire the Property pursuant to the terms herein contained. The provisions of this paragraph shall survive the termination of the Contract. 6. Non - Waiver of Sovereign Immunity Nothing contained in the Contract or in any instruments executed pursuant to the terms of the is Agreement shall be construed as a waiver or attempted waiver by the Buyer of its sovereign immunity under the constitution and laws of the State of Florida; provided, however, that this paragraph shall not be construed as an attempt by the Buyer to negate any partial waiver of sovereign immunity made by the Legislature under the provisions of The Tort Claims Act, Section 768.28, Florida Statutes or any future statute or Act adopted by the Florida Legislature. 7. Disclosure of Beneficial Interest Contemporaneous with the execution of the Contract, Seller shall deliver to the Buyer a public disclosure of its beneficial ownership which shall comply with the requirements set forth in Section 286.23, Florida Statutes. A form disclosure of beneficial interest is attached to this Addendum as Exhibit "A " . The Contract constitutes a written notice from the City to Seller requesting the foregoing disclosure and informing Seller that such disclosure must be made under oath, subject to the penalties prescribed for perjury. 8. Time for Acceptance The Seller is irrevocably executing the Contract and this Addendum prior to approval by the City Commission of Buyer; provided, however, that in the event the City Commission of Buyer does not approve and execute the Contract and Addendum and designate funds for the purchase of the Property on or before April 15` 2013, then the Seller's execution hereof shall be automatically terminated and the Buyer shall immediately return to Seller the executed copies of the Contract and this Addendum. 9. Contingent on Appraisal Notwithstanding anything contained in the Contract to the contrary, Seller and Buyer acknowledge that the Contract is contingent on Buyer obtaining an appraisal of the Property that supports the purchase price to be paid by Buyer to Seller for the Property. Buyer shall use good faith efforts to obtain the appraisal within thirty (30) days following the date the City Commission of Buyer executes the Contract and this Addendum. Buyer shall timely provide a copy of the appraisal to Seller upon receipt. 10. Phase I Environmental Site Assessment. The Buyer will, at Buyer's expense and within 30 (thirty) days from Effective Date, have a Phase I Environmental Site Assessment to determine whether the property is suitable, in Buyer's sole and absolute discretion, for Buyer's intended use and development of the property. 11. Closing Conditioned on Vacancy of Property Notwithstanding anything contained in the Contract to the contrary, Buyer's obligation to close on the purchase of the Property is conditioned upon Seller being able to deliver the Property to Buyer free and clear of all tenants, occupants and others with a claim to possession of the Property or any portion thereof. Buyer shall have the right to extend the closing on the purchase of the Property until it is reasonably satisfied that this condition has been met. 2 IN WITNESS WHEREOF, the parties hereto have executed this Addendum to be effective as of the effective date of the Contract. Signed, sealed and delivered in the presence of: to da n a 6dG( �a �S'aQ d0c) Print Name: Print Name: C7 rn win A (� Ideo Print Name: SELLER YODANANDA G. JAGDEO By: y©da(jQn0fa Q - TaCrdU0o Name: Title: SELLER OMWHATIE JAGDEO By: ©(114*Qt1'C, Name: Title: Print Name: Print Name: Print Name: Beth Eikenberry City Clerk [AFFIX SEAL] BUYER CITY OF OCOEE, a Florida municipal corporation S. Scott Vandergrift Mayor Attest: Executed on: ' 2013 3 For use and reliance only by the City of Ocoee, Florida. Approved as to form and legality this day of 2013. SHUFFIELD, LOWMAN & WILSON, P.A. By: City Attorney APPROVED BY THE OCOEE CITY COMMISSION AT A MEETING HELD ON , 2013 UNDER AGENDA ITEM NO. L, Comprehensive Rider to the R Residential Contract For Sale And Purchase' ealors`" THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR If initialed by all parties, the clauses below will be incorporated into the Florida Realtors® /Florida Bar Residential Contract For Sale And Purchase between Yodananda Jagdeo and Onwhatie Jagdeo (SELLER) and city of Ocoee (BUYER) concerning the Property described as 678 S. Bluford Avenue, Ocoee, FL 34761 Buyer's Initials Seller's Initials �� S 0 . F. APPRAISAL CONTINGENCY This Contract is contingent upon Buyer or Buyer's lender obtaining, at Buyer's expense a written appraisal from a licensed Florida appraiser, stating that the appraised value of the Property is at least $ 490,000-00 (if blank, the Purchase Price), and delivering a copy of such appraisal to Seller on or before 04 /15/13 . If the appraisal states that the appraised value of the Property is less than the above value, Buyer may, within 3 days after the above date deliver written notice to Seller, either: a) terminating this Contract in which event the Deposit paid shall be refunded to Buyer; thereby releasing Buyer and Seller from all further obligations under this Contract; or b) waiving and removing this contingency and continuing with this Contract without regard to the appraised value of the Property. If Buyer fails to timely obtain an appraisal, or having timely obtained such appraisal fails to timely deliver notice of Buyer's exercise of the right to terminate granted above, this contingency shall be waived and removed, and Buyer will continue with this Contract. Page of Comprehensive Rider to the Residential Contract For Sale And Purchase CR -1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved. This software is licensed to [PAMELA BOZKURT - GOSSELIN REALTY3 www.transactiondesk.com. /rft Exhibit "A" DISCLOSURE OF BENEFICIAL INTERESTS IN REAL PROPERTY TO: S. Scott Vandergrift, Mayor, City of Ocoee, a Florida municipal corporation FROM: YODANANDA G. JAGDEO and OMWHATIE JAGDEO SUBJECT: Proposed Sale from YODANANDA G. JAGDEO and OMWHATIE JAGDEO to the City of Ocoee ( "Buyer ") of real property described in Exhibit "A" attached hereto (the "Property ") Please be advised that the undersigned, after diligent search and inquiry, hereby states under oath, and subject to the penalties prescribed for perjury: (i) that the Seller is the owner of fee simple title to the Property, (ii) that the Seller's address is 1846 Vale Drive, Clermont, FL 34711 -5101, (iii) that the undersigned has been authorized by Seller to execute this disclosure on behalf of Seller, and (iv) that the name and address of each person having a legal or beneficial interest in the Property is as follows: Name Address I swear and affirm that the information furnished herein is accurate as of the date hereof, and I agree to promptly disclose any changes in the information contained herein, or any errors in such information between the date hereof and the date of the sale of the Property from Seller to Buyer. This disclosure is made under oath and I understand I am subject to penalties for perjury for any false information contained herein. This disclosure is made pursuant to Section 286.23, Florida Statutes, in connection with a conveyance of the Property to the Buyer. SIGNATURE AND NOTARY FOR DISCLOSURE OF BENEFICIAL INTERESTS Print Name: STATE OF _ COUNTY OF The foregoing instrument was sworn to and subscribed before me this day of 2013, by , [ ] who is personally known to me. or [ ]who has produced the following type of identification: Notary Public - State of Typed Name: My commission expires: 2 ire Center of Good Lrv�� B all Monct� Mayor Memorandum S. Scott Vandergrift Commissioners Date: March 18, 2013 Gary Hood District 1 To: Pam Bozkurt, GRI, e -Pro, EcoBroker®, GREEN Broker / Owner, Gosselin Realty Rosemary Wilsen From: Craig A. Shadrix, Assistant City Manager, City of Ocoee District 2 Subject: Commercial Contract CC -4 Rusty Johnson District 3 Please present the contract referenced as "Contract CC -4" and as amended by addendum to Joel F. Keller the seller listed as "Yodananda Jagdeo and Omwhatie Jagdeo" for execution. As we District 4 discussed previously and contained in the addendum, the contract is subject to approval by the City of Ocoee City Commission, and could conceivably be placed on the Commission's agenda for either the April 2, 2013 or the April 16, 2013 meetings. The seller must execute City Manager the contract prior to our placement of the item on the agenda. Additionally, please note that Robert D. Frank closing is contingent upon performance by the seller to adhere to the conditions specified in the contract and addendum. Please contact me at your earliest convenience with any questions. City of Ocoee ■ 150 N Lakeshore Drive ■ Ocoee, Florida 34761 Phone: (407) 905 -3100 ■ fax: (407) 905 -3167 ■ www.ocoee.org