HomeMy WebLinkAboutDocumentation_Regular_Tab 05D_09/18/2003 '� !
VILLAGE OF TEQUESTA
VILLAGE COUNCIL MEETING AGENDA COVER/MEMORANDUM
Date Prepared: 9/12/03
Meeting Date: 9/18I03
CLASSIFICATION: Consent Agenda
Subject/Agenda Item/Summary:
- � Resolution to approve the contract for sale and purchase of
the Tequesta Village Center Parcel in the amount of $520,000. This was previously approved at the
July Regular Village Council Meeting with the condition of having the Village Manager and Village
Council negotiate the contract, and that the appropriate Village officials were authorized to execute
the contract; however, it is being brought back to you for an informational final review. A Resolution
was created to keep the action administratively organized.
Also, an updated (date-wise) contract will be sent to you under a separate cover before
the Council Meeting.
STAFF RECOMMENDATION TO [X] APPROVE [] DENY
Reviewed by: Costs: Attachments: Advertised:
(please list) N/A
Date:
Village Manager N/A
Resolution Paper:
Sale and Purchase
Contract [ ] Not required
Funding Source: Extract from minutes
[ j Operating
[ ) Other (explain) Affected Parties:
[ ] Notified (explain)
Budget Acct. #
[ ] None [ ] Not Required
Submitted by: Originating Village Manager Council Action:
Department: Approval:
Village Manager [ ] Approved
Administration [ ] Approved
w/conditions:
[ ] Denied
[ ] Tabled to:
!�
'
if
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I:
; RESOLUTION NO. 48-02/03
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, APPROVING
A CONTRACT FOR THE SAFE OF THE PARCEL OF LAND LYING
IN SECTION 30, TOWNSHIP 40 SOUTH, RANGE 43 EAST, PALM
BEACH COUNTY, FLORIDA (TEQUESTA VILLAGE CENTER
PARCEL), WITH LOUIS FEIBEL, TRUSTEE, HIGH BIDDER, IN
THE AMOUNT OF $520,000.00, AUTHORIZING THE VILLAGE
MANAGER TO EXECUTE THE CONTRACT, PROVIDING AN
EFFECTIVE DATE.
�
�: NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
: VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
�' Section 1: Award of the sale of Village Property—Parcel 1, according to the Plat of
�; Tequesta Village Center as recorded in Plat Book 91, page 162-163, Public Recards of Palm
;� Beach County, Florida—to Tequesta Corporate Center, Louis Feibel, Trustee, in the amount
i� of $520,000.00. The contract for sale and purchase is attached hereto as "E�ibit A" and
; incorporated by reference as part of this Resolution is hereby approved, and the Village
'` Manager is authorized to execute the contract on behalf of the Village of Tequesta.
' THE FOREGOING RESOLUTION WAS OFFERED by , who
�: moved its adoption. The motion was seconded by , and upon being
� put to vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
�; The Mayor thereupon declared the Resolution duly passed and adopted this 18th day of
i' September, A.D. 2003.
i;
Mayor Edward D. Resnik
;: ATTEST:
;;
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;{ Village Clerk
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TyiS �ORM HAS BEEN APPROVED BY THE FLORIDA Jones, Foster, Johnston & Stubbs, P.A.
ASSOCIATION OF REALTORSO AND THE FLORIDA BAR 505 South Flagler Drive, Suite 1100
• - � � - � � � • � West Palm Beach, FL 33401
561-659-3000
� PARTIES: villacre of Tectuesta ("Seller"),
� Louis Feibel, Trustee (
eby agree that Seller shall seli and Buyer shall buy the following described Real Property and Personal Property (collectively
.. roperty") pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("ContracY'):
s I, DESCRIPTION:
s (a) Legai description of the Real Property located in Palm Beach County, Florida:
�
a See Exhibit "A" attached hereto and made a part hereof.
9 �b) Street address, city, zip, of the Property is:
�o (c) Personal Property includes existing range, refrigerator, dishwasher, ceiling fans, light fixtures, and window treatments unless
i� specifically excluded below.
�z Other items included are:
is All items of personal property are excluded. There is no personal property included in
14 this sale.
�e Items of Personal Property (and leased items, if any) excluded are:
�s II. PURCHASE PRICE (U.S. currency): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 520, 000.00
�� PAYMENT:
�8 (a) Deposit held in escrow by Seller (Escrow Agent)
�s inthe amounfof .................................................................$ 26,000.00
zo (b) Additional escrow deposit to be made to Escrow Agent within days after Effective Date
2� (see Paragraph III) in the amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
z2 (c) Assumption of existing mortgage in good standing (see Paragraph IV(c)) having an approximate
2s principal balance of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
24 (d) New mortgage financing with a Lender (see Paragraph IV(b)) in the amount of . . . . . . . . . . . . . . . . . . $
25 (e) Purchase money mortgage and note to Seller (See Paragraph IV(d)) in the amount of . . . . . . . . . . . . . $
zs (f) Other: $
2� (g) Balance to close by cash or LOCALLY DRAW N cashier's or official bank check(s), subject to
26 adjustments or prorations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 494, 000. 00
2s III. TIME FOR ACCEPTANCE OF OFFER AND COUNTER�ERS; EFFECTIVE DATE:
�;� (a) If this offer is not executed by a d tle�ivered t 11 rties OR FACT OF EXECUTION communicated in writing between the parties
on or before:Au -��..2o=}a003����, eposit(s) will, at Buyer's option, be returned and this offer withdrawn.
UNLESS OTHERWISE STATED, THE TIME ACCEPTANCE OF ANY COUNTEROFFERS SHALL BE 2 DAYS FROM THE
3 DATE TIiE COUNTEROFFER IS DELIVERED.
'b) The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed or initialed this offer
�r the final counteroffer. If such date is not otherwise set forth in this Contract, then the "Effective Date" shall be the date determined
3s above for acceptance of this offer or, if applicable, the final counteroffer.
3� IV. FINANCING:
sa 0(a} This is a cash transaction with no contingencies for financing;
39 p(b) This Contract is contingent on Buyer obtaining approval of a loan ("Loan Approval") within days after Effective Date for
ao (CHECK ONLY ONE): ❑ a fixed; ❑ an adjustable; or ❑ a fixed or adjustable rate loan in the principal amount of
41 $ , at an initial interest rate not to exceed %, discount and origination fees not to exceed
a2 % of principal amount, and for a term of years. Buyer will make application within days (if
43 blank, then 5 days) after Effective Date and u'se reasonable diligence to obtain Loan Approval and, thereafter, to satisfy terms and
44 conditions of the Loan Approval and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a Loan Approval or fails
a5 to waive Buyer's rights under this subparagraph within the time for obtaining Loan Approval or, after diligent, good faith effort, fails to
4s meet the terms and conditions of the Loan Approval by Closing, then either party thereafter, by written notice to the other, may cancel
a7 this Contract and Buyer shall be refunded the deposit(s);
as ❑(c) Assumption of existing mortgage (see rider for terms); or
as ❑(d) Seller financing (see Standard B and riders; addenda; or special clauses for terms).
so V. TITLE EVIDENCE: At least days (if blank, then 5 days) before Closing:
s� �(a) Title insurance commitment with legible copies of instruments listed as exceptions attached thereto ("Title CommitmenY') ancl,
52 after Closing, an owner's policy of title insurance (see Standard A for terms); or ❑(b) Abstract of title or other evidence of title (see
s3 rider for terms), shall be obtained by (cHECK orv�v oNE): ❑(1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney; or
sa ❑(2) Buyer at Buyer's expense.
55 VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered
5s on See Addendum ("Closing"), unless modified by other provisions of this Contract. If Buyer
5� is unable to obtain Hazard, Wind, Flood, or Homeowners' insurance at a reasonable rate due to extreme weather conditions, Buyer
sa may delay Closing for up to 5 days after such coverage becomes available.
59 VII.RESTRIGTIONS; EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to: comprehensive land use plans,
so zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on
si the plat or otherwise common to the subdivision; outstanding oil, gas and mineral rights of record without right of entry; unplatted
62 public utility easements of record (located contiguous to real property lines and not more than 10 feet in width as to the rear or front
FAR/BAR-6S Rev. 10/01. User Reg#: 125890A. Software and added formatting O 2001 Alta Star Software, Inc. (877) 279-8898 Page 1 of 4
s: {ines and 7 1/2 feet in width as to the side lines); taxes for year of Closing and subsequent years; and assumed mortgages and purchase
E4 money mortgages, if any (if additional items, see addendum); provided, that there exists at Closing no violation of the foregoing and none
s5 prevent use of the Property for commercial purpose(s).
ss VIII.00CUPANCY: Seller shall deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein. If Property is
s� intended to be rented or occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed
F' pursuant to Standard F. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from date of
occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have accepted Property in its
%� existing condition as of time of taking occupancy.
�i IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all
�2 printed provisions of this Contract in conflict with them.
�3 X. ASSIGNABILITY: (CHECK ONLY ONE): Buyer ❑ may assign and thereby be released from any further liability under this Contract;
�4 f� may assign but not be released from liability under this Contract;��������t�i���x
�e XI. DISCLOSURES:
�s (a)❑ CHECK HERE if the Property is subject to a special assessment lien imposed by a public body payable in installments which
�� continue beyond Closing and, if so, specify who shall pay amounts due after Closing: ❑ Seller ❑ Buyer ❑ Other (see addendum).
�e (b) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks
�9 to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings
ao in Florida. Additional information regarding radon or radon testing may be obtained from your County Public Health unit.
e� (c) Buyer acknowledges receipt of the Florida Building Energy-Efficiency Rating System Brochure.
$2 (d) If the real property includes pre-1978 residential housing then a lead-based paint rider is mandatory.
ss (e) If Seller is a"foreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with that Act.
aa (f) If Buyer will be obligated to be a member of a homeowners' association, BUYER SHOULD NOT EXECUTE THIS CONTRACT
85 UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIATION DISCLOSURE.
ss XII. MAXIMUM REPAIR COSTS: Seller shall not be responsible for payments in excess of:
a� (a) $ As - Is for treatment and repair under Standard D(if blank, then 2% of the Purchase Price).
ae (b) $ As-is for repair and replacement under Standard N not caused by Wood Destroying Organisms
as (if blank, then 3% of the Purchase Price).
so XIII. RIDERS: RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to this Contract:
s� ❑ CONDOMINIUM ❑ VA/FHA ❑ HOMEOWNERS' ASSN. ❑ LEAD-BASED PAINT
92 ❑ COASTAL CONSTRUCTION GONTROL LINE ❑ INSULATION p"AS IS"
93 B Other Comprehensive Rider Provisions 0 Addenda
sa Special Clause(s):
95
96
9'
99
100
101
�02 XIV. STANDARDS FOR REAL ESTATE TRANSACTIONS ("Standards"): Buyer and Seller acknowledge receipt of a copy of Standards
�os A through W on the reverse side or attached, which are incorporated as part of this Contract.
104 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
105 THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS� AND THE FLORIDA BAR.
�os Approval does not constifute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a particular transacfion. Terms and
1o7 conditions shc�uld be negotiated based upon the respective interests, objectives and bargaining positions of all interested persons.
Village of Tequesta
108 ° "`-�' ,e����"� f � � D °. �� j �
�' �
�os . Buyer) Louis Feibel, Trustee (Date) �� (Seller) Edward Resriik, Mayor (Date)
110
111 (Buyer) (Date) (Seller) (Date)
��z Buyers' address for purposes of notice Sellers' address for purposes of notice
�13 250 Tectuesta Drive, Tequesta, FL 33469 250 Tequesta Drive, #300 TecTUesta, FL 33469
� �a Phone Phone
115 Deposit under Paragraph II (a) received (Checks are subject to clearance.): (Escrow Agent)
116 Seller
��� BROKERS: The brokers named below, including listing and cooperating brokers, are the only brokers entitled to compensation in
��s connection with this Contract:
11 ,me: None None
�zo Cooperating Brokers, if any Listing Broker
FAR/BAR-6S Rev. 10/01. Page 2 of 4 AL"�"A
OO 2001 Florida Association of RealtorsOO and The Florida Bar. All rights reserved. OO 2001 Licensed to Alta Star. User Reg#: 125890A. CT�1]
Software and Added Formatting O 2001 Alta Star Software, Inc. All Rights Reserved. (877) 279-8898 0� wAR
12, STANDARDS FOR REAL ESTATE TRANSACTIONS
�22 A. TITLE INSURANCE: The Title Commitment shall be issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to
�2s Buyer, an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's marketable title to the Real Property, subject only to
�2a matters contained in Paragraph VII and those to be discharged by Seller at or before Closing. Marketable title shall be determined according to
�25 applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have 5 days from date of receiving the Title
�2F �ommitment to examine it, and if title is found defective, notify Seller in writing specifying defect(s) which render title unmarketable. Seller shall have 30
� rs from receipt of notice to remove the defects, failing which Buyer shall, within 5 days after expiration of the 30 day period, deliver written notice to
, �ler either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or
�2s �2) requesting a refund of deposit(s) paid which shall be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the
�so title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) within the time provided. If Seller is unable to timely
131 correct the defects, Buyer shall either waive the defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations
�s2 under this Contract. If Seller is to provide the Title Commitment and it is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing
133 so that Buyer shall have up to 5 days from date of receipt to examine same in accordance with this Standard.
134
135 provide for a 30 day grace period in the event of default if a first mortgage and a 15 day grace period if a second or lesser mortga • ovide for
�ss right of prepayment in whole or in part without penalty; shall permit acceleration in event of transfer of the Real Pro er • equire ail prior liens and
137 encumbrances to be kept in good standing; shall forbid modifications of, or future advances under, age(s); shall require Buyer to maintain
policies of insurance containing a standard mortgagee clause covering all improvement n the Real Property against fire and all perils included
� �� within the term "extended coverage endorsements" and such other risks ' as Seller may reasonably require, in an amount equal to their highest
�ao insurable value; and the mortgage, note and security a r all be otherwise in form and content required by Seller, but Seller may only require
�a� clauses and coverage customariiy found ' es, mortgage notes and security agreements generally utilized by savings and loan institutions or
�a2 state or national banks loc county wherein the Real Property is located. All Personal Property and leases being conveyed or assigned will, at
ias Seller's o ti �ect to the lien of a security agreement evidenced by recorded or filed financing statements or certificates of title. If a balloon
144
�as C. SURVEY: Buyer, at Buyer's expense, within time ailowed to deliver evidence of title and to examine same, may have the Real Property surveyed and
s ertified by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach
on setback lines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall
aa constitute a title defect.
�as
�so ("Operator") at least 10 days prior to Closing to determine if there is any visible active Wood Destroying Organism infestat' amage from
�5� Wood Destroying Organism infestation, excluding fences. If either or both are found, Buyer may, within a e of written notice thereof, have
-� 2 ost of treatment of active infestation estimated by the Operator and all dama e i s imated by an appropriately licensed contractor. Seller
shall pay costs of treatment and repair of all damage up to t vi ed in Paragraph XII(a). If estimated costs exceed that amount, Buyer shall
sa 'have the option of canceling this Contr ys after receipt of contractor's repair estimate by giving written notice to Seller, or Buyer may elect
�5s to proceed with n and receive a credit at Closing on the amount provided in Paragraph XII(a). "Wood Destroying Organisms" shall be
156
i E INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as
escribed in Paragraph VII hereof, and title to the Real Property is insurable in accordance with Standard A without exception for lack of legal right of
, ess.
1
s � , �e nature and duration of the tenanYs occupancy, rental rates, advanced rent and security deposits a' . una e to obtain such
er from each tenant, the same information shall be furnished b a ime period in the form of a Seller's affidavit, and Buyer
s ay thereafter contact tenant ion. the terms of the leases differ materially from Seller's representations, Buyer may terminate
164
�se G. LIENS: Seller shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing
�ss statement, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements or repairs to the Real Property
ts� for 90 days immediately preceding date of Closing. If the Real Property has been improved or repaired within that time, Seller shall deliver releases or
�ss waivers of construction liens executed by all general contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting
�ss forth the names of all such general contractors, subcontractors, suppliers and materialmen, further affirming that all charges for improvements or repairs
��o which could serve as a basis for a construction lien or a claim for damages have been paid or will be paid at the Closing of this Contract.
171 H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real Property is located at the office of the attorney or other closing agent
»2 ("Closing AgenY') designated by the party paying for title insurance, or, if no title insurance, designated by Seller.
173 I. TIME: In computing time periods of less than six (6) days, Saturdays, Sundays and state or national legal holidays shall be excluded. Any time periods
174 provided for herein which shall end on a Saturday, Sunday, or a tegal holiday shall extend to 5 p.m. of the next business day. Time is of the essence in
175 this Contract.
»s J. CLOSING DOCUMENTS: Seller shall furnish the deed, bill of sale, certificate of title, construction lien affidavit, owner's possession affidavit,
��� assignments of leases, tenant and mortgagee estoppel letters and corrective instruments. Buyer shall furnish mortgage, mortgage note, security
��a agreement and financing statements.
ns
t x on the purchase money mortgage and any mortgage assumed, mortgagee title insurance commitme ecor ing of purchase
oney mortgage to Seller, deed and financing statements shall be . erwise provided by law or rider to this Contract, charges for
a he following related title serv' e, i e examination, and closing fee (including preparation of closing statement), shall be paid by
183
�sa L. PRORATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day
�a5 before Closing. Buyer shali have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash
iss at Ciosing shall be increased or decreased as may be required by prorations to be made through day prior to Closing, or occupancy, if occupancy
�s� occurs before Closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes
ias shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If
�ss Closing occurs at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based upon such
�so assessment and prior year's millage. If current year's assessment is not available, then taxes will be prorated on prior year's tax. If there are completed
�s� �rovements on the Real Property by January 1st of year of Closing, which improvements were not in existence on January 1st of prior year, then
�� s shall be prorated based upon prior year's millage and at an equitable assessment to be agreed upon between the parties; failing which, request
�s.. ,all be made to the County Property Appraiser for an informal assessment taking into account available exemptions. A tax proration based on an
�sa estimate shali, at request of either party, be readjusted upon receipt of tax bill on condition that a statement to that effect is signed at Closing.
FAR/BAR Revised 10/01 OO 2001 Florida Association of REALTORSO and The Florida Bar. All Rights Reserved. User Reg#: 125890A. PBgB 3 Of 4
Software and added formatting O 2001 Alta Star Software, Inc. (877) 279-8898
STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)
�se M. SPECIAL ASSESSMENT LIENS: Except as set forth in Paragraph XI(a), certi�ed, confirmed and ratified speciai assessment liens imposed by
�ss public bodies as of Closing are to be paid by Seller. Pending liens as of Closing shall be assumed by Buyer. If the improvement has been substantiaily
197 completed as of Effective Date, any pending lien shall be considered certified, confirmed or ratified and Seller shall, at Closing, be charged an amount
�sR °nual to the last estimate or assessment for the improvement by the public body.
1 '
2, ndation, seawalls (or equivalent) and dockage of the Property do not have any visible evidence of leaks, water damage or structural dama hat
zo� tne septic tank, pool, alf appliances, mechanical items, heating, cooling, electrical, plumbing systems and machinery are in Workin ndition. The
202 foregoing warranty shali be limited to the items specified unless otherwise provided in an addendum. Buyer may inspect, or, at r s expense, have a
2os firm or individual specializing in home inspections and holding an occupational license for such purpose (if required) or propriately licensed Florida
2oa contractor make inspections of, those items within 20 days after the Effective Date. Buyer shall, prior to Buyer' upancy but not more than 20 days
2o after Effective Date, report in writing to Seller such items that do not meet the above standards as to def . niess Buyer timely reports such defects,
uyer shall be deemed to have waived Seller's warranties as to defects not reported. if rep ' r replacements are required to comply with this
Standard, Seller shall cause them to be made and shall pay up to the amount provided ' ragraph XII (b). Seller is not required to make repairs or
2 e eplacements of a Cosmetic Condition unless caused by a defect Seller is resp ' e to repair or replace. If the cost for such repair or replacement
2os exceeds the amount provided in Paragraph XII (b), Buyer or Seller may e pay such excess, failing which either party may cancel this Contract. If
2�o Seller is unable to correct the defects prior to Closing, the cost ther all be paid into escrow at Closing. Seiler shall, upon reasonable notice, provide
2� � utilities service and access to the Property for inspections ' mg a walk-through prior to Closing, to confirm that all items of Personal Property are on
2�2 the Reai Property and, subject to the foregoing, t required repairs and replacements have been made and that the Property, including, but not
2�s limited to, lawn, shrubbery and pool, if an een maintained in the condition existing as of Effective Date, ordinary wear and tear excepted. For
2�a purposes of this Contract: (1) "Wor ' ondition" means operating in the manner in which the item was designed to operate; (2) "Cosmetic Condition"
2�e means aesthetic imperfectio at do not affect the Working Condition of the item, including, but not limited to: pitted marcite or other pool finishes;
2�s missing or torn scre , ogged windows; tears, worn spots, or discoloration of floor coverings, wallpaper, or window treatments; nail holes, scratches,
2�� dents, scrape ips or caulking in ceilings, walis, flooring, fixtures, or mirrors; and minor cracks in floors, tiles, windows, driveways, sidewalks, or pool
2�a decks• (3) cracked roof tiles, curling or worn shingles, or limited roof life shall not be considered defects Seller must repair or replace, so long as
2�s
22o O. RISK OF LOSS: If the Property is damaged by fire or other casualty before Closing and cost of restoration does not exceed 3% of the assessed
22� valuation of the Property so damaged, cost of restoration shall be an obligation of Seller and Closing shall proceed pursuant to the terms of this Contract
zzz with restoration costs escrowed at Closing. If the cost of restoration exceeds 3% of the assessed valuation of the Property so damaged, Buyer shall
z2s either take the Property as is, together with either the 3% or any insurance proceeds payable by virtue of such loss or damage, or receive a refund of
2za deposit(s), thereby releasing Buyer and Seller from all further obligations under this Contract.
225 P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If the title agent insures adverse matters pursuant to Section
22s 627.7841, F.S., as amended, the escrow and closing procedure required by this Standard shall be waived. Unless waived as set forth above the
2z� following closing procedures shall apply: (1) all closing proceeds shail be held in escrow by the Closing Agent for a period of not more than 5 days after
22e Closing; (2) if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shail, within the 5 day period, notify Selier in writing of the defect
z2s and Seller shall have 30 days from date of receipt of such notification to cure the defect; (3) if Seller fails to timely cure the defect, all deposits and
2so cfosing funds shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment,
z� �er shall return the Personal Property, vacate the Real Property and reconvey the Property to Seller by special warranty deed and bill of sale; and (4)
z: ayer fails to make timely demand for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be
zss �,ailable to Buyer by virtue of warranties contained in the deed or bill of sale.
2sa Q. ESCROW: Any Closing Agent or escrow agent ("AgenY') receiving funds or equivalent is authorized and agrees by acceptance of them to deposit
2se them promptly, ho�d same in escrow and, subject to clearance, disburse them in accordance with terms and conditions of this Contract. Failure of funds
zss to clear shall not excuse Buyer's performance. If in doubt as to AgenYs duties or liabilities under the provisions of this Contract, Agent may, at AgenYs
zs7 option, continue to hold the subject matter of the escrow until the parties hereto agree to its disbursement or until a judgment of a court of competent
2ss jurisdiction shall determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute. An
2ss attorney who represents a party and also acts as Agent may represent such party in such action. Upon notifying all parties concerned of such action, all
zao liability on the part of Agent shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. If a licensed real
2a� estate broker, Agent will comply with provisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seller wherein Agent is made a party
2az because of acting as Agent hereunder, or in any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable
2as attorney's fees and costs incurred with these amounts to be paid from and out of the escrowed funds or equivalent and charged and awarded as court
2aa costs in favor of the prevailing party. The Agent shall not be liable to any party or person for misdelivery to Buyer or Seller of items subject to the
za5 escrow, unless such misdelivery is due to wilfful breach of the provisions of this Contract or gross negligence of Agent.
2as R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in
za� such litigation, which, for purposes of this Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authorized
zas by Chapter 475, F.S., as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs and expenses.
2as S. FAILURE OF PERFORMANCE: If Buyer fai�s to perForm this Contract within the time specified, including payment of all deposits, the deposit(s) paid
25o by Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated damages,
ze� consideration for the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations
2sz under this Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure
2ss of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specific
zs4 performance or elect to receive the return of Buyer's deposit(s) without thereby waiving any action for damages resulting from Seller's breach.
2ss T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; FACSIMILE: Neither this Contract nor any notice of it shall be recorded in any
2ss public records. This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular
ze� shall include plural and one gender shall include all. Notice and delivery given by or to the attorney or broker representing any party shail be as effective
25s as if given by or to that party. All notices must be in writing and may be made by mail, personal delivery or electronic media. A legible facsimile copy of
25s this Contract and any signatures hereon shall be considered for all purposes as an original.
2so U. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, personal representative's or guardian's
2s� deed, as appropriate to the status of Seller, subject oniy to matters contained in Paragraph VII and those othenivise accepted by Buyer. Personal
2s2 Property shall, at the request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be othenvise
2s? �ided for herein.
zs THER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract.
2 s _ modification to or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the parties intended to be
bound by it.
sa h� R� °� or whioh h
FAR/6AR Revised 10/01 � 2001 Florida Association of REALTORSO and The Florida Bar. All Rights Reserved. User Reg#: 125890A. PBge 4 Of 4
Software and added formatting O 2001 Alta Star Software, Inc. (877) 279-8898
THIS FORM HAS BEEN APPROVED BY THE FLORIDA Jones, Foster, Johnston & Stubbs, P.A.
ASSOCIATION OF REALTORS� AND THE FLORIDA BAR 505 South Flagler Drive, Suite 1100
• � • • ' • • • West Palm Beach, FL 33401
= ' ' � • � 561-659-3000
_ .: THE RIDERS THAT APPLY
If initialed by all parties, the ciauses below wiil be incorporated into the FAR/BAR Contract for Sale and Purchase between
Villaqe of Tec�uesta (Seller)
and Louis Feibel Trustee (Buyer)
concerning the Property described as: See Exhibit "A" attached hereto and made a part hereof .
RIGHT TO INSPECTION AND RIGHT TO CANCEL
B ' itials -- Seller's initiais: If to be made a part of the Contract.
� ) --� )� )
1. Buyer shall have 30 days from Effective Date ("Inspection Period") within which to have such inspections of the Property
performed as Buyer shall desire and utilities shall be made available by the Selier during the Inspection Period.
2. Buyer shall be responsible for prompt payment for such inspections and repair of damage to and restoration of the Property
resulting from such inspections. This provision shall survive termination of the Contract.
3. If Buyer determines, in Buyer's sole discretion, that the condition of the Property is not acceptable to Buyer, Buyer may cancel
the Contract by delivering facsimile or written notice of such election to Seller within 48 hours after expiration of the Inspection
Period. If Buyer timely cancels the Contract, the deposit(s) paid shall be immediately returned to Buyer; thereupon, Buyer and
Seller shall be released of all further obligations under the Contract, except as provided in Subparagraph 2, above.
4. If Buyer elects to proceed with the Contract or fails to timely cancel the Contract within 48 hours after expiration of the Inspection
°eriod, then the Contract will remain in effect,�r�-
�r�ted-�y-Sta�da�s-S-er�l p
any, requiring treatment, repair, or replacement under such St to Seller in writing within 4 days after expiration of the
��� nspection Period, then Seller shall pay up to the applicab unts required by Paragraph XII(a) and (b); or
(b) If Buyer fails to conduct inspections ed by Standards D or N, or both during the Inspection Period, or, having
conducted such inspection(s), fails ' ely report defects, if any, requiring treatment, repair, or replacement under such
Standards, in writing to S , uyer shall be deemed to have waived Seller's warranties and obligations of treatment, repair or
ALTA
ST�R
- � S-0f T W �AR E
it to Inspection and Right to Cancel, FBCR-5 7/03 OO 2003 Fla. Association of REALTORSO and The Fla. Bar. All Rights Reserved Lic. to Alta Star User Reg#: 125890A
ftware and Added Formatting O 2003 Alta Star Software, Inc. All Rights Reserved. (877) 279-8898
ADDENDUM TO CONTRACT Jones, Foster, Johnston & Stubbs, P.A.
505 South Flagler Drive, Suite 1100
West Palm Beach, FL 33401
561-659-3000
Buyer: Louis Feibel, Trustee
Seller: Village of Tequesta
Property
Address:
This addendum is made part of the Contract for Sale and Purchase concerning the property referenced above.
l. Closing Expenses. Buyer shall pay the documentary stamp tax payable on the deed of conveyance, the
title insurance premium for an owner's policy of title insurance to be issued by Jones, Foster, Johnston &
Stubbs, P.A. as agent for Attorney's Title Insurance Fund, Inc. and related title insurance charges including
abstract charge, title examination and settlement and closing fees.
2. Title Commitment: Simultaneous with the execution of this Contract, Seller has delivered a title
insurance commitment issued by Attorney's Title Insurance Fund, Inc. Buyer agrees that Buyer shall take
title to the Property subject to all matters set forth on Schedule B-II of the title insurance commitment;
provided, however, at Closing, Seller shall deliver a Seller's Affidavit sufficient for the title insurance
company to delete the standard exceptions for matters recorded prior to the recording of the deed (the "gap"),
mechanic's liens and parties in possession.
3. Closing Date: Closing shall occur on or before the date which is ten (10) days following the expiration
of the Inspection Period.
V
�" ,-� � � � �
Date: � � � ,� Buyer:
L uis Feibel, Trustee `
Date: Buyer:
Date: Seller•
Edward Resnik, Mayor
Date: Seller•
Addendum Page 6
�
>
' ��Itl61T `i¢ „
C,C.G�IL DCSCR(f'"t'tON
i'AfZCEL NU. [
LY[NG IN SLCI�ION 30,
'rOWNSi-{[[' 40 SOUTI-(, R�NGE 4� C�Sl�
A t'�IZCL:L 0f= LAND LY(NG [N SCCT'[ON 30, T�OWt�ISI-(t(' 40 SO(1�I'[-i, K�INGC 43
E/1ST, ('flL(�4 QE/lCi-i GOU(�I�T'�', C�LORIDA, (3G(NG MOR(: f'ART[CUi_/IRLY
DCSCR[[3CD AS� FOL[.,O��S:
C'OI��[t�QCt�ICiNG A'I� T[-IC POINT O� [t�ITERSCCI"(01�! O� TI{E CCNTLIZL,INC OP
STATE ROAD i�IU. 5(US I{CGI�WAY NO_ O WITH T[LE SOUTH L(NE OE
SECT(ON 30, T'OV�'P�ISHI[' 40 SOUTH, RANGE 43 CAST; T( I�lOfZTf-{
03°S4`SS" CAST (QAStS OC' [3EAiZit�lGSj, I�LONG TI-iE SAID CCNTERL[NE,'A
D[ST�NCC OF G9S.SS [�CE"[� "['O A('O[I�IZ' Oi�i T(-{C CASTGRLY CX7'E[�1S[ON Of=
THC i�IOIZT[-( RiG[ L[NC OI� BRIDGE RO�D (('C[� DCED l300K ( I GG,
PAGC 552 Oi� T(-{E ('UC3L[C RECORDS OF t'A[,M E3CAC(� COUNTY, FL02(DA);
TI SOUTH 89°46'SS" WEST, ALONG SA[D EASTE[ZLY EX��EI�iS[O[�i AI�iD
SAID NO[t7'(i RIGH�'-O�-W�IY LINC, A DIST'At�ICC OC G73_37 �CCT' `CO T[�C
PO(NT O[= t3CGIt�Ii�i(Nd; T({CNCE CONT[NUC SOUT'E-[ 89°4G'SS" WCST, �LONG
SA[D NORTH RIGHT-OC'-WAY L,[�tE, A DISTA[�ICE OC' 2032[ I�EET; TI-�ENGE
NOE�TH 00°11'OS" �VCST', A D[STANCE OI� 7_24.57 FLET; THENCE NO(ZTH
89°4G'S5" C�SZ�, A D(STANCE O� 2G3_52 CCCT; TI�CNGE SOUTH 18°43't3" WCS�C,
A DISTANCC O� 87. (0 FEE1' TO TtLC (3EGW[�IING O�' A CURVC, (3C[[�IG
CONCAVE TO "['i-[E CAST �IND HAV(I�IG �l IZAD[US OF (30 FEET; THCt�ICE
SOUTHC2LY ALONG TI-iC I�RC O� SAID CURVG T[�IZOUGi-I A CC�iTR�C
ANGLC OF l8°56'18", F02 AN ARC LE�GTH OE 42.97 �CCT; "C({CNCC SOUT(
0°13`OS" E�ST', �l DIST�It�tCC OC' 74.99 Fi�GT'; T[�CNCC SOUTI{ 44°4G`SS" ��ES"I', �
DIS"I�ANCF O� 3S_3G rGCT TO T[{E ('�(ti"C O� QCG[NNWG.
Council Member Capretta stated we could say we will not accept
it tonight, and have the town manager negotiate a contract.
Council Member Watkins stated it does seem reasonable.
Recess at approximately 8: SO p. m., return at approximately 9: 00 p. m.
Village Attorney Hawkins sta.ted my recommendation dealt with
the issue of how to effectuate the sale, not the political question of
how you wish to sale or not sell. If you are interested in keeping
the land, you have a right, through public notice to reject the bid. I
can't give you a legal opinion, it looks as if you can reject my
motion. We have had a motion, a second, a discussion. The
motion is that the Village Council authorize the Village Manager
and Village Council to negotiate the contract, Louis Feibel, and
that the appro�iate ViZtage offacials be authorized to execute the
contract:
Roll call vote: Council Member Genco aye, Vice Mayor von Frank aye,
Council Member Capretta nay, Councid Member Watkins aye, Mayor
Resnik aye. Motion carried 4-1.
Village Attorney Hawkins mentioned we filed response and
motion to resolve lis pendens and seeking attorney's fees in our
response. We are evaluating our options. That specific claim has
not been injected in the suit also slander of title.
B. First Reading—Ordinance No. _--AN ORDINANCE OF THE
VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM
BEACH COUNTY, FLORIDA, AMENDING CHAPTER 6,
BUILDINGS AND BUILDING REGULATIONS, OF THE VILLAGE
CODE OF ORDINANCES, AT ARTICLE II, BY INCLUDING A NEW
SECTION 6-27, ADOPTING THE FLORIDA BUILDING CODE, 2001
EDITION; INCLUDING A NEW SECTION 6-28 AOPTING THE
INTERNATIONAL PROPERTY MAlNTENANCE CODE, 2Q02
EDITION; INCLUDING A NEW SECTION 6-29 ADOPTING THE
PALM BEACH COUNTYWIDE UNIFORM AMENDMENTS TO THE
FLORIDA BUILDING CODE 2001, SECTION 103.5; AMENDING
SECTION 6-41, NATIONAL ELECTRIC CODE; PROVIDING FOR
SEVERABILITY; PROVIDING FOR REPEAL OF ORDINANCES IN
CONFLICT; PROVIDING FOR CODIFICATION; PROVIDING AN
EFFECTIVE DATE.—Community Development Director Jeffi°ey C.
Newell
Village Attorney Hawkins read the Ordinance by caption only.
11