Emergency Item - Approval to execute purchase agreement and all documents incident to closing on parcel 17-22-28-6144-03-221 (2 North Bluford Avenue); the proposed purchase price is $344,350 ()cope
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AGENDA ITEM COVER SHEET
Meeting Date: May 16, 2017
Item # Emergency
Reviewed By:
ag m
Contact Name: Al Butler, Director Department Director:
Contact Number: 407-554-7063 City Manager:
Subject: Approval to execute purchase agreement and all documents In ent hosing on
parcel 17-22-28-614403-221 (2 North Bluford Avenue); the proposed purchase price Is $344,350
(District 3: Firstner).
Background Summary:
City staff has expressed an interest in purchasing property located at 2 North Bluford Avenue (Property)
from the owner, Cartscot, LLC, which has the Property advertised for sale. The proposed sales price of
$344,350 is substantially below the advertised offer price. A boundary survey of the Property has been
authorized by staff at a cost of $1,250. The Property contains a large white wood frame residential
structure, which has been converted to commercial space that presently houses the offices of a
photographer. The site is at the main downtown Ocoee intersection of Bluford Avenue and McKey
Street. The proposed new City Hall will be located directly across Bluford Avenue.
There are two uses for a portion of the Property in support of the downtown redevelopment program:
• Space is needed for underground electrical power facilities, such as switch gear and junctions, In
order to remove the overhead power lines from Bluford Avenue.
• Access to the alley along the north side of McKey Street is needed for underground utilities,
particularly the downtown gravity sewer system. The portion of the alley that originally extended
along the north side of the Property was abandoned many years ago and part of the structure is
located within the area of need.
Part of the Property may also be used at some point in the future as a passive park supporting other
efforts for redevelopment in the downtown area. The indivisibility of the Property makes its acquisition as
a whole necessary.
Under the City Charter, no public hearing is required for the purchase of real property valued at less than
$1 million. The purchase has not been kept from public disclosure under the procedures available in
§166.045(1), Florida Statutes, so a 30-day delay, independent appraisal, and public hearing are not
required prior to the City Commission's consideration of the contract.
Issue:
Should the City Commission authorize this acquisition of real property at the proposed price?
Recommendation:
This Property is located at a key position for redevelopment of the downtown area. Staff recommends
that the City Commission approve the purchase of the Property, authorize the City Attorney and City
Manager to prepare and finalize a purchase and sales agreement for the property, authorize the City
Manager to develop and implement a funding plan, including the completion of any needed funding
allocations or budget transfers, and authorize the Mayor to execute any and all other documents
necessary to complete the closing on the Property. The purchase would be contingent upon resolution
of any outstanding issues to the city's satisfaction.
Attachments:
Proposed sales agreement.
Financial Impact:
The financial impact is the cost of the Property ($344,350.00) plus the cost of a boundary survey and
other standard closing costs. Funding for this acquisition will be taken from a combination of sources.
The initial need is for $5,000 in earnest money to be paid immediately to secure the Property, with the
balance due at closing.
Type of Item: (please mark with an x
Public Hearing For Clerk's Dent Use.
Ordinance First Reading x Consent Agenda
Ordinance Second Reading Public Hearing
Resolution Regular Agenda
x Commission Approval
Discussion&Direction
X Original Document/Contract Attached for Execution by City Clerk
Original Document/Contract Held by Department for Execution
Reviewed by City Attorney Reviewed by Dana Crosby-Collier N/A
Reviewed by Finance Dept. N/A
Reviewed by ( ) c N/A
Commercial Contract f 14 Florida Realtors°
p 1. PARTIES AND PROPERTY: City of Ocoee ("Buyer")
z• agrees to buy and Cartscot LLC ("Seller")
s• agrees to sell the property as: Street Address: 2 N Bluford Ave, Ocoee, FL 34761
4•
s• Legal Description: TOWN OF OCOEE A/100 LOTS 24 25&26 AND THEE 15 FT OF LOT 22& 12 FT VAC NW
✓ LYING E OF SAID LOT 22&W OF LOTS 25 26&24 BLK 3(LESS N 3 FT OF LOT 24 FOR RIW)
✓ and the following Personal Property:
8•
e (all collectively referred to as the"Property')on the terms and conditions set forth below.
ts• 2.PURCHASE PRICE: $ 344,350.00
11- (a) Deposit held in escrow by The Oil Law Firm $ 5,000.00
12 ("Escrow Agent") (thence are subject to actual and final collodion)
it Escrow Agent's address: 1305 E Plant St,Winter Garden, FL 34787 phone; 407-656.4500
14' (b)Additional deposit to be made to Escrow Agent within days after Effective Date $
is• (e)Additional deposit to be made to Escrow Agent within days after Effective Date $
ts• (d)Total financing(see Paragraph 5) $
tr (e)Other $
,s (f)All deposits will be credited to the purchase price at closing. Balance to close, subject
Ir to adjustments and prorations,to be paid with locally drawn cashier's or official bank $ 339,350.00
zo check(s)or wire transfer.
May 18, 2017
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 712OXXXXOGX ,this offer will be
n withdrawn and the Buyer's deposit, if any,will be returned.The time for acceptance of any counter offer will be 3
z4 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.
n Calendar days will be used when computing time periods, except time periods of 5 days or less. Time periods of 5
n days or less will be computed without including Saturday,Sunday, or national legal holidays. Any time period ending
n on a Saturday, Sunday,or national legal holiday will extend until 5:00 p.m.of the next business thy.Time is of the
2e essence In this Contract.
w 4.CLOSING DATE AND LOCATION:
at• (a)Closing Date:This transaction will be closed on June 16, 2017 (Closing Date),unless specifically
32 extended by other provisions of this Contract.The Closing Date will prevail over all other time periods including, but
as 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 properly insurance, Buyer may postpone closing up to 5 days after the
as insurance underwriting suspension Is lifted.
Sr Buya( )( )and Seller( )( )acknowledge receipt of a copy of this page,which is Page 1 of 8 Pages.
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ar (b)Location:Closing will take place in Orange County, Florida. (If left blank,closing
as will take place in the county where the property is located.)Closing may be conducted by mail or electronic means.
se 5.THIRD PARTY FINANCING:
ow BUYER'S OBLIGATION:Within n/a clays(5 days if left blank)after Effective Date, Buyer will apply for third party
41• financing in an amount not to exceed n/a%of the purchase price or$ ,with a fixed interest rate
or not to exceed n/a%per year with an initial variable interest rate not to exceed n/a%,with points or commitment
aa• or loan fees not to exceed n/a%of the principal amount,for a term of n/a years, and amortized over rile
44 years,with additional terms as follows:
45* n/a
48 Buyer will timely provide any and all credit,employment,financial and other information reasonably required by any
or lender. Buyer will use good faith and reasonable diligence to(i)obtain Loan Approval within rile days(45 days if
4e left blank)from Effective Date(Loan Approval Date), (ii)satisfy terms and conditions of the Loan Approval,and
w (iii)close the loan. Buyer will keep Seller and Broker fully informed about loan application status and authorizes the
so mortgage broker and lender to disclose all such information to Seller and Broker. Buyer will notify Seller immediately
61 upon obtaining financing or being rejected by a lender. CANCELLATION: If Buyer,after using good faith and
62• reasonable diligence,fails to obtain Loan Approval by Loan Approval Date, Buyer may within rile days(3 days if left
sa blank)deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract.
at If Buyer does neither,then Seller may cancel this Contract by delivering written notice to Buyer at any time
ss thereafter. Unless this financing contingency has been waived,this Contract shall remain subject to the
ss 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
sa Approval by Loan Approval Date and thereafter either party elects to cancel this Contract as set forth above or the
se lender fails or refuses to close on or before the Closing Date without fault on Buyer's part,the Deposit(s)shall be
eo returned to Buyer,whereupon both parties will be released from all further obligations under this Contract, except for
ei obligations stated herein as surviving the termination of this Contract. If neither party elects to terminate this Contract
e2 as set forth above or Buyer fails to use good faith or reasonable diligence as set forth above, Seller will be entitled to
ss retain the Deposit(s)if the transaction does not close.
ear 6.TITLE:Seller has the legal capacity to and will convey marketable title to the Property by❑x statutory warranty
es' deed❑other , free of liens,easements and encumbrances of record or
es 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
sr subject)
az.
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 Commercial Property
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)❑x Seller's❑ Buyer's expense and
i4• within rile days❑after Effective Date❑x or at least 1$ days before Closing Date deliver to Buyer(check one)
rs• x (i.)a title insurance commitment by a Florida licensed title insurer setting forth those matters to be
78 discharged by Seller at or before Closing and, upon Buyer recording the deed, an owners policy in the amount
of the purchase price for fee simple title subject only to exceptions slated 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
Effective Date.
m• ❑ (ii.)an abstract of title,prepared or brought current by an existing abstract firm or certified as correct by an
e1 existing firm. However, if such an abstract is not available to Seller,then a prior owner's title policy acceptable
az to the proposed insurer as a base for reissuance of coverage may be used.The prior policy will include copies
03 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
es in the update. If such an abstract or prior policy is not available to Seller then(i.)above will be the evidence of
se title.
87 (b)Title Examination:Buyer will,within 15 days from receipt of the evidence of title deliver written notice to Seller
ea of title defects.Title will be deemed acceptable to Buyer if(1) Buyer fails to deliver proper notice of defects or
se• Buyer( 1( )and Seller(_I( I acknowledge receipt of a copy of this page.which is Page 2 of 8 Pages.
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ea: (2) Buyer delivers proper written notice and Seller cures the defects within 30 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
e2 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
se 10 days from receipt of notice of Seller's inability to cure the defects to elect whether to terminate this Contract or
s accept title subject to existing defects and close the transaction without reduction in purchase price.
s (c)Survey: (check applicable provisions below)
Di.)Seller will,within 5 days from Effective Date,deliver to Buyer copies of prior surveys, plans,
• specifications, and engineering documents, if any, and the following documents relevant to this transaction:
go,
oo prepared for Seller or in Seller's possession,which show all currently existing structures. In the event this
01 transaction does not close,all documents provided by Seller will be returned to Seller within 10 days from the
02 date this Contract is terminated.
m• 0 Buyer will, at❑Seller's❑x Buyer's expense and within the time period allowed to deliver and examine title
a evidence,obtain a current certified survey of the Property from a registered surveyor. If the survey reveals
os• encroachments on the Property or that the improvements encroach on the lands of another,❑ Buyer will
oe• accept the Property with existing encroachments❑x such encroachments will constitute a title defect to be
07 cured within the Curative Period.
oe (d)Ingress and Egress:Seller warrants that the Properly presently has ingress and egress.
co 7. PROPERTY CONDITION:Seller will deliver the Property to Buyer at the time agreed in its present"as is"
to condition, ordinary wear and tear excepted,and will maintain the landscaping and grounds in a comparable condition.
1 i Seller makes no warranties other than marketability of title. In the event that the condition of the Property has
12 materially changed since the expiration of the Due Diligence Period, Buyer may elect to terminate the Contract and
is receive a refund of any and all deposits paid, plus interest, if applicable. By accepting the Property"as is", Buyer
14 waives all claims against Seller for any defects in the Property. (Check(a)or(b))
1s• ❑x (a)As Is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its"as is"
is condition.
tr ❑(b) Due Diligence Period: Buyer will, at Buyer's expense and within days from Effective Date("Due
1a Diligence Period"),determine whether the Property is suitable, in Buyer's sole and absolute discretion,for Buyer's
19 intended use and development of the Property as specified in Paragraph 6. During the Due Diligence Period,
20 Buyer may conduct any tests,analyses, surveys and investigations("Inspections")which Buyer deems necessary
21 to determine to Buyer's satisfaction the Property's engineering,architectural,environmental properties;zoning and
22 zoning restrictions;flood zone designation and restrictions;subdivision regulations;soil and grade;availability of
23 access to public roads,water, and other utilities;consistency with local, state and regional growth management and
24 comprehensive land use plans;availability of permits,govemment approvals and licenses;compliance with
2s American with Disabilities Act;absence of asbestos,soil and ground water contamination;and other inspections
a that Buyer deems appropriate to determine the suitability of the Property for Buyer's intended use and
27 development. Buyer will deliver written notice to Seller prior to the expiration of the Due Diligence Period of
28 Buyer's determination of whether or not the Property Is acceptable. Buyer's failure to comply with this notice
29 requirement will constitute acceptance of the Property in its present"as is"condition. Seller grants to Buyer, its
3o agents,contractors and assigns, the right to enter the Property at any time during the Due Diligence Period for the
31 purpose of conducting Inspections;provided,however,that Buyer,its agents,contractors and assigns enter the
32 Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seller harmless from losses,
33 damages,costs,claims and expenses of any nature, including attorneys'fees at all levels,and from liability to any
34 person,arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer will not engage
as in any activity that could result in a mechanic's lien being filed against the Property without Seller's prior written
as consent. In the event this transaction does not close, (1) Buyer will repair all damages to the Property resulting
37 from the Inspections and return the Property to the condition it was in prior to conduct of the Inspections, and
aa (2) Buyer will,at Buyer's expense release to Seller all reports and other work generated as a result of the
39 Inspections. Should Buyer deliver timely notice that the Property is not acceptable,Seller agrees that Buyer's
ao deposit will be immediately returned to Buyer and the Contract terminated.
41 (c)Walk-through Inspection: Buyer may,on the day prior to closing or any other time mutually agreeable to the
at Buyer( )( )and Seller( )( )acknowledge receipt of a copy of this page,which is Page 3 of 8 Pages.
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43 parties,conduct a final"walk-through"inspection of the Property to determine compliance with this paragraph and
44 to ensure that all Property is on the premises.
4s 8.OPERATION OF PROPERTY DURING CONTRACT PERIOD:Seller will continue to operate the Property and any
46 business conducted on the Property in the manner operated prior to Contract and will take no action that would
47 adversely impact the Property,tenants,lenders or business, if any.Any changes,such as renting vacant space,that
4e. materially affect the Property or Buyer's intended use of the Property will be permitted['only with Buyer's consent
4e• [(without Buyer's consent.
so 9.CLOSING PROCEDURE: Unless otherwise agreed or stated herein,closing procedure shall be in accordance with
sl the norms where the Property is located.
5z (a)Possession and Occupancy:Seller will deliver possession and occupancy of the Property to Buyer at
ea closing. Seller will provide keys, remote controls,and any security/access codes necessary to operate all locks,
54 mailboxes,and security systems.
ss (b)Costs: Buyer will pay Buyer's attorneys'fees,taxes and recording fees on notes, mortgages and financing
se statements and recording fees for the deed.Seller will pay Seller's attorneys'fees,taxes on the deed and
n recording fees for documents needed to cure title defects. If Seller is obligated to discharge any encumbrance at or
se prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances.
so (c)Documents:Seller will provide the deed; bill of sale;mechanic's lien affidavit;originals of those assignable
eo service and maintenance contracts that will be assumed by Buyer after the Closing Date and letters to each
61 service contractor from Seller advising each of them of the sale of the Property and, if applicable,the transfer of its
62 contract,and any assignable warranties or guarantees received or held by Seller from any manufacturer,
ea contractor,subcontractor,or material supplier in connection with the Property;current copies of the condominium
e4 documents, if applicable;assignments of leases, updated rent roll;tenant and lender estoppels letters;tenant
as subordination, non-disturbance and attomment agreements(SNDAs) required by the Buyer or Buyer's lender;
sa assignments of permits and licenses;corrective instruments;and letters notifying tenants of the change in
67 ownership/rental agent. If any tenant refuses to execute an estoppels letter, Seller will certify that information
ea regarding the tenant's lease is correct. If Seller is an entity, Seller will deliver a resolution of its Board of Directors
ea authorizing the sale and delivery of the deed and certification by the appropriate party certifying the resolution and
Ai setting forth facts showing the conveyance conforms to the requirements of local law. Seller will transfer security
71 deposits to Buyer. Buyer will provide the closing statement, mortgages and notes,security agreements,and
72 financing statements.
n (d)Taxes and Proration: Real estate taxes, personal property taxes on any tangible personal property, bond
74 payments assumed by Buyer,interest, rents(based on actual collected rents), association dues, insurance
75 premiums acceptable to Buyer,and operating expenses will be prorated through the day before closing. If the
76 amount of taxes for the current year cannot be ascertained, rates for the previous year will be used with due
n allowance being made for improvements and exemptions.Any tax proration based on an estimate will,at request
n of either party, be readjusted upon receipt of current year's tax bill;this provision will survive closing.
79 (e)Special Assessment Liens:Certified, confirmed, and ratified special assessment liens as of the Closing Date
m will be paid by Seller. If a certified,confirmed,and ratified special assessment is payable in installments, Seller will
si pay all installments due and payable on or before the Closing Date,with any installment for any period extending
62 beyond the Closing Date prorated, and Buyer will assume all installments that become due and payable after the
ea Closing Date. Buyer will be responsible for all assessments of any kind which become due and owing after Closing
e4 Date,unless an improvement is substantially completed as of Closing Date. If an improvement is substantially
as completed as of the Closing Date but has not resulted in a lien before closing,Seller will pay the amount of the last
ee estimate of the assessment.This subsection applies to special assessment liens imposed by a public body and
ar does not apply to condominium association special assessments.
ea (f)Foreign Investment In Real Property Tax Act(FIRPTA): If Seller is a"foreign person"as defined by FIRPTA,
ea Seller and Buyer agree to comply with Section 1445 of the Internal Revenue Code. Seller and Buyer will
eo complete,execute, and deliver as directed any instrument,affidavit, or statement reasonably necessary to comply
to with the FIRPTA requirements, including delivery of their respective federal taxpayer identification numbers or
es* Buyer( )( )and Seller( )( )acknowledge receipt of a copy of this page,which is Page 4 of 8 Pages.
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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.
tea 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
1g9 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
mo 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,
204 Agent will be released from all liability except for the duty to account for items previously delivered out of escrow. If
205 Agent is a licensed real estate broker,Agent will comply with Chapter 475, Florida Statutes. In any suit in which Agent
20e 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
me 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 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
216 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
no 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
m all deposit(s)paid or agreed to be paid by Buyer as agreed upon liquidated damages,consideration for the
22a 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
ns 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
no 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
no 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 it given by or delivered to that party.
tae 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( )( )acknowledge receipt of a copy of this page,which is Page 5 of 8 Pages.
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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
248 and radon testing may be obtained from your county public health unit.
25o (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 (e) 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
25e 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
ase proceeds.Seller shall not settle any insurance claim for damage caused by casualty without the consent of the
258 Buyer.
280 (b) If,after the Effective Date and before closing,any part of the Property is taken in condemnation or under the
281 right of eminent domain,or proceedings for such taking will be pending or threatened, Buyer may cancel this
282 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
285 and assist Buyer in collecting any such award.
266.18.ASSIGNABILITY; PERSONS BOUND:This Contract may be assigned to a related entity,and otherwise❑x is
26r 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
zee 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
278 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.
278 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:
2001 (a)Seller's Broker: Cite Realty Partners, LLC Jamie Barati/John WorrellMatherine Zelman
281 (Company Name) (WORM)
282• 100 S Orange Avenue, Suite 100 Orlando, FL 32801 407-930-1800 john.worrell@citepartners ,
263 (Address,Telephone,Fax,E-mail)
284• who❑x is a single agent❑is a transaction broker❑has no brokerage relationship and who will be compensated
285' by❑x Seller❑ Buyer ID both parties pursuant too a listing agreement❑other(specify) Listing agreement
266. between Seller and Cite Realty Partners, LLC dated September 2, 2016
ter Buyer( )( )and Seller( )( )acknowledge receipt of a copy of this page,which is Page 6 018 Pages.
CC-4 Rev 12/10 C2010 Florida Realtors`
sensor 0231754001494.1447114ill ' I,'
zea• (b)Buyer's Broker:
209 (Company Nanel (Licensee)
290'
291 (Address,Telephone,Fax,E-mail)
no who pis a single agent ❑is a transaction broker❑ has no brokerage relationship and who will be compensated
zea• by❑Seller's Broker❑Seller❑Buyer❑both parties pursuant ton an MLS offer of compensation❑other(specify)
294•
295 (collectively referred to as"Broker")in connection with any act relating to the Property, including but not limited to
298 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
29e reasonable attorneys'fees at all levels,and from liability to any person,arising from(1)compensation claimed which is
298 inconsistent with the representation in this Paragraph, (2)enforcement action to collect a brokerage fee pursuant to
aao 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
3m• ❑x Section 1031 Exchange ❑ Coastal Construction Control Line❑ Buyer's Attorney Approval
so" ❑ Property Inspection and Repair 5 Flood Area Hazard Zone 5 Seller's Attorney Approval
3m• ❑ Seller Representations 5 Seller Financing ❑ Other
me 22.ADDITIONAL TERMS:
310•Lines 92-95 shall be adjusted to read as follows: "Seller may elect not to cure defects if Seller
311- reasonably believes any defect cannot be cured within the Curative Period. If the defects are not cured within the
31r Curative Period, Buyer will have 10 days from receipt of notice of Seller's inability OR UNWILLINGNESS to cure the
313•defects to elect whether to terminate this Contract or accept title subject to existing defects and close the transaction
314•without reduction in purchase price.
31s•Lines 219-220: The following language shall be deleted and not applicable to this contract: "If Buyer elects a
318'deposit refund,Seller will be liable to Broker for the full amount of the brokerage fee.
317'
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
see REPORTING REQUIREMENTS, ETC.)AND FOR TAX, PROPERTY CONDITION,ENVIRONMENTAL AND OTHER
au 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( I( )acknowledge receipt of a copy of this page,which is Page 7 of 8 Pages,
CC-4 Rev 12/10 02010 Florida neelore*
sense 002110.4a014a'4344714
1111 h;t .I I11i111. ll
334 Each person signing this Contract on behalf of a party that is a business entity represents and warrants to the other
335 party 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' Date:
333 (Signature of Buyer)
34r Tax ID No:
341 (Typed or Printed Name of Buyer)
342-Title: Telephone:
3 3• Date:
344 (Signature of Buyer)
345• Tax ID No:
348 (Typed or Printed Name of Buyer)
34rTitle: Telephone:
346•Buyer's Address for purpose of notice:
a4w Facsimile: Email:
350 Date:
351 (Signature of Seller)
Sean S. Scott Tax ID No: 20-2059871
353 (Typed or Printed Name of Seller)
354'Title: Managing Member/Cartscot, LLC Telephone: 321-436-7636
355' Date:
356 (Signature of Seller)
357• Charlie Carter Tax ID No: 20-2059871
ase (Typed or Printed Name of Seller)
353-Title: Managing Member/Cartscot, LLC Telephone: 321-217-9894
333•Seller's Address for purpose of notice: 2 N. Bluford Avenue,Ocoee, FL 34786
361•Facsimile: Email: seen®signindustry.com/ccarte2000@gmail.co
The Pot Association of REALTORS°makes no representation as a the legal validity or adequacy of any provision of MN form In any specific tramaclico.This
standar zod form should not be used In complex transactions or with°Mande Mere or additions.This form is draftable or use by the entre real estate Industry
and Is not Intended to Identify Me user as a RE LTOR°.REALTOR'is a registered collective membership mark which may be used only by reel estate licensees who
are members of the NATIONAL ASSOCIATION OF REALTORS°and who subscribe to M Code of Ethics.
The copyright laws of the United Steles(17 U.S.Code)brad Me unauthorized reproduction of this Iorm by any means including facsimile or computerized forms.
der Buyer( )( )and Seller( )( )acknowledge receipt of a copy of this page,which is Page 8 of 8 Pages.
CO-4 Rev 12/10 02010 Rosa Realtors'
SONO:oal7S ol4t43e7164
Im1C111�1171�= _
PLAT OF BOUNDARY SURVEY
LEGAL DESCRIPTION:
LOTS 24, 25, 26, AND THE EAST 15 FEET OF LOT 22. BLOCK 3, TOWN OF OCOEE,
ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK A, PAGE 100, PUBLIC
RECORDS OF ORANGE COUNTY, FLORIDA., LESS THE NORTH 3.00 FEET OF LOT 24.
AND
VACATED ALLEY LYING EAST OF AND AD.NCENT TO LOT 22, BLOCK 3. TOWN OF OCOEE, ACCORDING
TO THE PUT THEREOF AS RECORDED IN PIAT BOOK A, PAGE 100• PUBLIC RECORDS OF ORANGE 5a1:. W
COUNCOUNTY., FLORIDA. I FOUNDROD t LBON 3019
F-
-
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LOTJ W LOT 21 AR
BC OCA' J BLOCK J
IBI
• LESS THE N 3.00. LOT 24 OVERHEAD WIRES (TYPICAL) ti
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27 00'
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735'00 (PUT) A CHAIN-LINK FENCER 28.1'
GS
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8 I
$ CLOCK J LOT 24 w.!' 10.0• 27A'
W
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LOT 11 h * I LOT 25 w.s' PIli C
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L LOT 26 is LI
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CONCRETE/���� CURB L9 N POT.bW)01 L45.0 L. BRICK
(TYPICAL) PIANRR \ I e
n
EDGE Of PAVEMENT TRAFFIC
# SIGNAL PosT LEGEND:
CERTIFICATION TO: ;PMCKEY STREET
CARTSCOT. LLCa - SET NAIL & DISK.
60' RIGHT OF WAY PER PLATL 6915
C - ELECTRIC PULLBOK
- . 1101E BIB
• - TELEPHONE RISER
SURVEYOR'S REPORT: 0 - SET 1/2' IRON ROD
I. ME SullatOR DC NOT MEOW AN ABSTRACT OF TIRE. ME NOW RCFEREI CED PROPERTY MAY RE W6RCT To * CAP. ASI LB 6915
ail% £ASEIC 119. 11101411-0C-WAY ARD CWCnaREm —
s OF RD. r . C - DUY wow