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Agenda 06-25-04II. III. IV. Call to Order. Roll Call. Agenda Approval. A. B. COMMUNITY REDEVELOPMENT AGENCY Special Call Meeting Friday, June 25, 2004 Commission Chambers Boynton Beach 5:00 P.M. Additions, Deletions, Corrections to the Agenda. Adoption of Agenda. New Business A. Consideration of Contract for Kelly Property in Heart of Boynton. Adjournment Any person who decides to appeal any decision of the Community Redevelopment Board with respect to any matter considered at this meeting will need a record of the proceedings and for such purpose may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. The CRA shall furnish appropriate auxiliary aids and services where necessary to afford an individual with a disability an equal opportunity to participate in and enjoy the benefits of a service, program, or activity conducted by the CRA. Please contact Douglas Hutchinson at 561-73%3256 at least twenty-four hours prior to the program or activity in order for the CRA to reasonably accommodate your request. Boynton Beach CRA 639 East Ocean Ave Suite 107 Boynton Beach, FI 33435 CRA SPECIAL MEETING NOTICE A Special Call CRA Board Meeting is scheduled to be held Friday, June 25, 2004 at 5:00 PM in the City Commission Chambers. For Additional Information please call the CRA at 561-737-3256. ,3~.~n- 22- 04 10:48 P.01 14:?4. SOUTH ANDREW5 AVENUE SUITE 200 FORT LAU DERDALE, FLORIDA 33316 PHONE NUMBER (954) 52.~.-6226 FAX NUMBER (954.) 522-64.22 FACSIMILE TRANSMISSION DATE: June 22, 2004 TO: I')oug Hutchinson FACSI. M l! .1~: NI IMBER: 561-737-3258 FROM: Diane Mason ._ E-MAlL: _ dmason([~theurbangroup.com SUBJECI': .lumfita Kelley._ Hcart of Itoynton NUMBER OF PAGI":S, INCLUDING TIqlS COVER SHEET: 7 COMMENTS: Alta¢l~ed are the following items for the Kelley acquisition/relocation cast;: Replacement housing payment narrative including move costs Photos of the numher tmc and two comparables RHP worksheet Doug: The occupants did not ask for relocation bencfits. 'the Uniform Act requires that we infom~ them of their entitlcntcnt. Even though they arc fmnily members, they are independent adults with no ownership in the real estate arid arc therefore considered tenmlts for the purposes el'the U]lifom~ Act, l.et tls kilow if you want anyone from 'l'hc Clrban Group to attend the urgent Board meeting. Our e-mail is down - we Impe to have it repaired by this al'temoon. Call me if you nccd more information 954-522-6226 extension 12!1. l'ieasc Note: The information in Ihi.q facsimile transmisslu[! is Intended only for the pcr$ollal and CONFIDENTIAl, u.qe of the desig,ated recipient(5) nam&al above. IF 'IHE READER C)F TIIIS FACSIMILE IS NOT TI IE INTlaNDED RECIPIENT, you are nofifit.d that you have rct~clvk~l this documen¢ in crntr, and tl~at any review, dissemination, distrlh.thm or copying of Ods transmi~shm i.~ strictly prohibited. If yea have received thin transmission in er,w, please notify this office immediately via telephone al (9.~4) 522-6226, ext. 1 t0. We will provide you with Instructions m~ disposal of this mk..-$.~ugc. I f you have any tranm~ission problems or questions please call (954) 522-6226, extension 110, ~un-22-04 10:48 P.O2 I~eplacement Housing Payment Project: Heart of Boynton Displacees: Sam Kelley and Brandon Kelley Parcel Number: 122.001t Address: 129 Northeast 9th Avenue, Boynton Beach The single-family house at 129 NE 9th Avenue is owned by Juanita Kelley and is occupied by Sam Kelley, age 41, and Brandon Kelley, age 21. The property owner has waived relocation benefits and will relocate separately from the occupants. The Uniform Act provides a relocation entitlement to the occupants. The displacees occupy two of the three bedrooms and one of the two baths. They also have use of the common rooms - the kitchen, living room and family room. The tenant pays no rent, but pays the entire electric bill. Mr. Kelley also does minor household repairs and maintains the landscaping. For the purposes of calculation of the replacement housing payment (RHP), fair market rent was obtained from the approved appraisal report. Fair market rent is reported to be $1,200 per month. Since the displacees use 66% of the whole house, their fair market rent is determined to be $792.00 per month. Mr. Kelley provided receipts for the electric bill. The average monthly electric cost for 2004 is $149.46. 66% of the total is $98.64. The average water and garbage bill is $50.00 per month. 66% of $50.00 is $33.00. The monthly rent plus utility cost for Sam Kelley and Brandon Kelley is $923.64 ($792 rent + $98.64 electric + $33.00 = $923.64) Average gross household income was obtained. Sam Kelley provided his Wage and Tax Statement from 2003 that reports his annual gross earnings of $15,858.87. His monthly income is $1,321.57 (15,858.87 ~- 12). Brandon Kelley provided a pay stub dated May 27, 2004 that contains a year to date payment of $9,674.45. His monthly income is $1,934.89 (9,674.45 *- 5). Total gross household monthly income is 3,256.46 ($1,321.57 + $1,934.89). 30% of income is $976.94 Base monthly rental is the lower of rent plus utilities or 30% of gross monthly household income. In this case, it is $923.64, rounded to $924.00, A search for comparable housing was conducted. Single family rental housing in the area averages $1,200 per month plus utilities (average $150 per month). This would result in a RHP of $19,320.00 ($1,350 - $890 = $460 x 42 -- $19,320). This indicates last resort housing. Section 24.404 c of the Uniform Act permits consideration of replacement housing based on space and physical characteristics different from those in the displacement dwelling in order to provide a functionally equivalent dwelling. In this case, we considered two- .Jun-22-04 10:49 P.03 Hcart o£ Boynton Rcplaccmcnt I lousing Payment Parodi 122.001t Page 2 bedroom duplexes, villas and townhomes to be comparable to a single-family house. DS&S Statement Three comparable dwellings were located. All comparable dwellings meet the needs of the displacees concerning number of bedrooms, and all comparables appear to meet local codes. #1 comparable ~-~'~ 28~h Avenue, Boynton Beach 2 bedroom villa, Los Mangos rent: $850 Utilities: electric $150 Water, garbage $50 Total = $1,050 Rent and utilities were vedfied with Mary Law, Real Estate Broker, 625 S. Federal Highway, Boynton Beach, 561-737-6900. #2 comparable 30 Crossings Circle, Boynton Beach 2 bedroom townhouse, The Crossings rent: $900 Utilities: electric $150 Total-- $t ,050 Rent and utilities were verified with Rent Free Realty, 561-733-2121. #.3 comparable 365 Waterside Drive, Lantana 2 bedroom twonhouse, Waterside Villa rent: $950 Utilities: electric $120 Total- $1,070 Rent and utilities were verified with Randy Loewenthal, 561-210-0050. _RHP Calculation: Comparable #1 rent plus utilities: Less Base Monthly Rental: difference Rental Assistance: $1,050.00 923.64 126.36 x 42 $5,307.12 Jun-22-04 10:49 P.04 tIcar~ ol'Boynlon Replacement Housing Payment Parcel 122.001 t Page 3 The Uniform Act states that "Any person displaced from a dwelling or a seasonal residence is entitled to receive an expense and dislocation allowance .... for actual moving related expenses. The displacees occupy two-thirds of the 6-room house and possess a total of 4 rooms of furniture. The Federal Highway Administration Payment Schedule allows $1,000.00 for 4 moms of furniture in the State of Florida. RHP Move costs Maximum available relocation entitlement: $5,307.12 $1,000.00 $6,307.12 Prepared by Diane Mason, the Urban Group, June 18, 2004 Jun-22-04 10:49 P.05 Comparable #1 Comparble #1 548 SE 28"~ Avenue, Boynton Beach 2 bedroom/2 bath villa rent: $850.00 utilities: $200.00 electric, water, garbage .Jun-22-04 10:49 P.06 Comparable #2 Comparable #2 30 Crossings Circle, Lantana 2 bedroom/l bath townhouse rent: $900,00 utilities; $150.00 electric Jun-22-O4 lO:BO P.O7 OCCUPANT Address I~)YNTO.~ BF. ACII COMMUNITY REDEYEIX)PMF-n;T AGENCY (CRA) REPI,ACI~MEI~T HOUSING CALCULATION METHOD 129 NI': '; Ave Boynton B~'u:h COMP #1 SdS .~£ 28 Ave B~'#tOll J~Jch (.~l)ulnel Nartte; Msry L~W, RE Broker Telephone: 561-737-6900 C'OMP #2 ^gePt'eir Built TOTAl. I.ivlhle C~O FLOOR SPACE CA~GE / CARPORT drlvcwa~ ~I.O~I~A/FAMII.Y ROOM OTHER A~RIBUTES ~C 'FYPF. CON~RUCI'ION [ ilia I .OT SIZE RENT ~ 792,~ U~L~I~ $131 I,ISTING IHCOME (Momhly) ~ $ 3,256.46 ~0% nf Ineflme [ $ 9?6,94 n/a Doc~ns C~llen, B~oker 561-733-2121 [953 sq.ff. p~rki~lt II II 1 ccnltal 2/I 5 S O00.00 St50.00 $ ~.050.00 PARCI,:I.: Phi jeer OeKripden Hem, t of BOyflton COMP #.1 '16,sSn::ler side I)rl v e ] Randy Lowent~el, Broker 561-210-00fi0 lot rh~lcon],, ,. 950,00 $t25.00 I~075.U0 t22.GOlt COMMENTS: enrdttse kddlUve JRe.t Supplen~nt REFLACEMENT VAI,L]E ~-'a [ sl,flsO.091 ~1 C, mp Rent + Util. I' ~2.1.(d1 Subj. RcnUIneomc S~BJECT VAI.tlE S ~ 512~361 [ Months ['I~TAI. Rent au~e~nl DIF~E~NCE ~VAI.UE~ ~$ - x42 ] RelR S~o~nt P~vment ~lc~uled u~ 30% of inrame Yes APPROVED RV: OATE; TOTAL IILr'NEFFf Purdtase Additive S · Rent Snltldemem Years of 3une 17, 2004 Mr. Douglas Hutchinson Director Boynton Beach CRA 639 East Ocean Boulevard Suite 107 Boynton Beach, FL 33435 RE: Original Signed Contract- Kelley, parcel 122 Dear Mr. Hutchinson: T have attached the original contract, executed by Ms..luanita Kelley for the appraised amount of $135,000. Please make arrangements at your earliest convenience to have the subject contract approved by all necessary parties. Your assistance in an expeditious handling of this matter is greatly appreciated. According to Lindsey Payne, Esquire, a special meeting may be called as we have a critical timeframe to meet. Sincerely, The Urban Group~ ~[nc. Barbara Matlack Senior Realty Specialist Enc.' Original Agreement for Purchase and Sale of Real Property Heart of Boynton, 0307, Parcel # 122 CC: Lindsey Payne, Esquire Dale Sugerman, Assistant City IVlanager, City of Boynton Beach The Urban Group, Inc. · 1424 South Andrews Avenue · Suite 200 · Fort Lauderdale, Florida 33316 TELEPHONE 954-522-6226 · FAX 954-522-6422 · www.theurbangroup.com 3une 16, 2004 Years of Ms. Billie Curry Morequity, Inc. Forclosure Department 5010 Carriage Drive Evansville, IN 47715 RE: Forestalling of Foreclosure Proceedings Loan #: 0000667409 Confirmation of upcominq Closing & Payoff balance Dear Ms. Curry: As you are aWare, The Urban Group, Inc., on behalf of our client, Boynton Beach Community Redevelopment Agency, has a signed contract for the purchase of the subject home, referenced below: Loan # 000667409 Ms. ]uanita Kelley 129 NE 9th Avenue Boynton Beach, FL 33435 It is our understanding that we have an agreement to forestall the foreclosure by closing on the property prior to June 30, 2004. Ms. Curry, you indicated that it is necessary for Morequity, Inc. to receive the payoff amount ($64,594.57) in full on June 30, 2004. It is therefore necessary for us to hold the closing on or before June 29, 2004 in order to have the funds to your company, Morequity, Inc., by the 30m of June, 2004. It is further understood that the payoff amount of $64,594.57 will need to be confirmed on the date of closing, per the payoff statement received on June 10, 2004, via fax. Your assistance is greatly appreciated. If there is any additional information or paperwork required, please contact me at (954) 522-6226, ext. 116, or (954) 873-2005. Sincerely, The Urban Group, :[nc. ..'/ . ~"~- :-' . ., Barbara Matlack, Senior Realty Specialist Certified Mail No.:70011140000230131705 CC: Doug Hutchinson, Director, Boynton Beach CRA Daniel C. Consuegra, Esquire, Attorney for the Plaintiff, Lindsey Payne, Esquire, Goren, Cherof, Doody & Ezrol, P.A.(954) 771-4923 (561) 737-3256 (813) 915-8660 The Urban Group, Inc. · 1424 South Andrews Avenue · Suite 200 .i Fort Lauderdale, Florida 33316 TELEPHONE 954-522-6226 · FAX 954-522-6422 · www.f'he,~rhannml m r~m Ju~-l~-04 08:3Zam From-aGF MOREQUiTY 8124754235 T-l?8 P.O~/OZ F-464 B03 PAYOFF STATEMENT June 10, 2004 TO: Urban Group, Inc. Fx: 954.522.6422 Krs Ph: 954.522.6226 Xl16 Att: Barbara Matlack, Morequity, Inc 5010 Carriage Drive Evansville, IN 47715 / RE: Juanita Kelley Sam Kelley 129 Ne 9th Ave Boynton Beach FL 33435 LOAN NUMBER: 000066'~409 LOAN TYPE: Conventi,)nal The payoff figures as provided are subject to final verification by the Note Holder. The Note Holder reserves the right to adjust thes.~ figures and refuse or accept any funds which are'insufficient to satisfy 5he full indebtedness for any reason including, but not limited to, errors in calculation, previously dishonored checks, or additioz~al disbursements made. Interest is collected to the date of the receipt of the payoff fund). Please allow for mailing time. These figures are valid to July 09, 2004. This loan is due for the February 03, 2004 payment. The current total unpaid principal balance is: $ 55,597 87 Interest at 9.59000% 2,754 78 Prepayment Penalty Interest 2,109 68 Escrow/Impound Overdraf~ 1,391 21 Suspense Balance -243 50 Unpaid Late Charges 292 53 Arty Fees And Costs 2,692 O0 TOTAL AMOUNT TO PAY LOAN IN FULL * * * $ 64,594.57 Funds received on or after July 09, 2004 will require an additional $ !4.81 innerest per day. ****PAYOFF FIGURES MUST BE VERIFIED WITH US AT 1-800-345-0187 ON THE DATE OF PAYOFF TO ENSURE THAT THE CORRECT AMOUNT IS REMITTED***' Mailing address: MorEquity, Inc., 600 N. Royal Avenue, Evansville, IN 47715 At5n: Pa~nent Processing Issuance of this stauement does not suspend the requirement to make 5he loan paymenu when as due under the loan contract. DO NOT STOP PAYMENT ON ANY PAYMENT ALREADY MADE. ' Jun-lO-~40~:32am From-ABF MOREQUITY 8124T5423~ T-l?8 P.O2/D2 F-464 0000667409 Short Payoffs: If we receive an insufficient amount for payoff, we will nosily the sender of the shortage amount. We must receive funds to cover the deficiency on the following business day. Payment of Taxes and/or Insurance: Our office will disburse payment for taxes and/or insurance if payment is due. Additionally our office will not be responsible for double disbursement. In the event the mortgagor requests that payrnen~ not be made to the tax office or insurance carrier, a written statement by the mortgagor authorizing this must be received in our office via fax prior to receipt of payoff funds. Escrow Funds and Forwarding Address Changes: Any exissing escrow refund will be payable to our mortgagor of record as reflected on the payoff statemen5 within 30 days from the payoff date. IF THE PROPERTY IS SOLD, please provide the seller's forwarding addresses. Please fax this information to (812) 475-7427. Juanita Kelley New Mailing Address: Sam Kelley XPOll 1424 SOUTH ANDREWS AVENUE SUI"I'E 2,O0 FORT LAUDERDALE, FLOR/DA 33316 PHONE NUMBER (954) 522-6226, ext. 1z§ ,,~ FAX NUHBER (954) 522-~422 FAC$IMII~E TRANSMISSION DATE: June 25,2004 TO: J U AN I. TA KELLEY FACS I~--.ILE NUMBER: FROM: Barbara Matinee. 732-775-,4482 E-MPdL: bmatlack_L~thettrban~oup.com SUBJECT: Contract -- "CONFIDENTIAL' NUMBER OF PAGES, INCLUDING THIS COVER SHEET: COMMENTS Juanit~ and return via fax Please sign Comract for yom' aclj~_~nt vacant, lot for yourself and fo.,r g_am ai Please Note: Thc information in this facsimile transmission is intended only iht the personal and CONFIDENTIAL use of the designated recipient(s) named above. IF THE READER OF THIS FACSIMILE IS NOT TKIg INTENDED RECIPIIgNT, you are notified that you have received this dooument tn error, and that any review, dissemination, distdbutio,~ or copying of this uansmissioli is strictly prohibited. If you have r~ceivexl this trlmamizaion in ,rror, please notify this office immedlalely via telephone at (954) 522-6226, oxt, 110. We will provide you with inslruotions on disposal of this message. Thank Yoa, .... ~5. M~ If you have any transmission problems or questions, lfi~as¢ call (954) 522-6226, cxt~neion 116. BOYNTON BEACH COMMUNITY REDEVELOP!VIENT AGENCY This Agrccment for Purchase and Sale of Real Property (hereinafter thc "Agreement"), is made and cniered into as of the ~2_5Ih._ _ day of_. , .Jurm , , 2004, by ~.,~d bctween BOYNTON BBACH COMMUNITY RBDBV'£LOPMBNT AGBNCY ('hcrei,~aficr rcferred to as "Buyer") and __,[ua.llilaJ~dl~~~~ (hcreina/icr referred as "Sellcr"). In consideration of the mutual agn~ements set forth below, the parties agree as follows: 1.0 Deflnitiong. The following terms when used h~ this Agreement shall have the following meanings: 1.1 Bu..ger. BOYNTON BEACH COMMUNITY REDBVELOPMENT AGENCY, a public body corporate and public, orv-,~ted pu_~uant to Chapter 163 of the Florida Statutes. 1.2 l?agzt~%Agr~. THE URBAN 'GROUP, INC., a Florida Corporation authorized to negotiate this Agreement and make deposits on b~mlf of the Buyer 1.3 ~. The delivery of the Dccdz to Buyer concurrently with the delivery of the Purchase Price to Seller. 1.4 C. IIn~ing I):~re The date' of thc Closing as ~iac. d in aooordaneo with Paragraph 10 below. 1.5 .D.e,~. One (1) Statutory General Warranty Deed which shall convey thc Proporty fi, om Seller to Buyer. 1.6 ~. The date that this Ag~ment is executed by thc last party to sign it, party for puxposes of this sex:tion only are Seller and Bayer's Agent. 1.7 t~overnmant~[ A,,rhnri .~'. Ally federal, ~tate, county, municipal or erbar governmental department entity, autlxority, commission, board, btLreau, c, oKrt, agency or .any instmmcntalizy of any of thmu which has juriadiction over the Property. 1.8 GovL,~nrn~ntal ;~q,,ir,~nent. Any law, ~c~t, St~tc, c~e, ar~, x~e, relation, j~t, d~rec, ~i~ ~j~fion,. ff~Mse, ~t, ce~ficate, authOrir~tion, ~ecmmt or o~er ~fion or mqu~mt of ~y ~vc~~ AuthofiW now ~sfing or h~ ~t~, ~pted, pmm~gat~ entem~ or mucd a~te to ~e ~pe~, or m ~y' ~pu~ccs, s~c~c, ~ or ~ili~, on or ~j~t to, ~e P~. 1.9 Pmpc~. That certain rcal property locattxi in thc City of Boynton Beach, Palm Beach County, Florida, and more particularly dcscl'ibed as pimml on Bxhibit "A" attached hereto and made a paxt hereof, together with all improvements, property rights, casements, privileges and appurtenances thereto. 1.10 p,re.h~-.~ P'5_'~. The price the Buyer shall pay the Seller for the Property as moro fully sot forth in Paragraph 3 below, I. I 1 Relier. For purpos~ of this Agretunum, tho Scllvr oft. he Property. 1.12 Title C.n,~mitm~-nt. A title insurance commilment i.~mmd by or written on the Tire Company, agreeing to issue the Title Policy to Buyer upon payment of the Purchase Price and recording o£the Deed and exec..ntinn and recording (if applicable) of other closing documents. 1.13 Title. Cc~m.nany. The title insurance company, licvnsed and authorized to conduct business in thc State of Florida as selcctext by Buyer. 1.14 iTJlle,_Enli~. An ALTA Form B Ow~a~/"s Title Insurance Polic~ in the amount of the Purchase Price, insuring Buyer's title to thc Property, subject only to the Pemaittod 15xceptions. 2.1 For good and valuable consideration of the deposit set forth below' paid by Buyer to Seller, Seller hereby grants to Buyer and Bayer hereby accepts ~rom Seller the right to purchase and acquire the Property fxom Seller on the terms and conditions hcrcina~er set forth such that the payment of the Purchase Price shall be as set forth in Soctiou 3.0. Buyo- shall pla~ a non= refundable deposit of Tnn 13nHars Dollars (S_lO.OO ) with Buyer's Agent who shall to.ck.- said zastount to Scllcx on tho date this Agreement is effective. This d~,po~it and any deposit held pursuant to Section 2.3 slmll be subtracted from the total purchase price, 2.2 Buyer shall be obligated to give Seller notice within ~ days of the Effective Date, that Buyer has elected to close in aw. ordance with this Agreement Whereupon, Seller shall be obligated to provide to Buyer all prior title policies and surveys in its possession pertaining to tho subject real proparty. 2.3 Upon exercise of the fight to close, Buyer shall place a se~nd deposit of Dollars with Buyer's Agont. 2.4 If Buyer does not exere, ise this right to close within the period stated above in Paragraph 2.1, this right of the Buyer shall automatically and immediately terminate without notice and the parties shall automatically be released from further liability heramder. In the event Buyer fails to exercise this right, Seller shall retain tho deposit sum paid as stated in Section 2.1 as thc sole and exclusive remedy for failurc of Buyer to close. 3.0 P~.we. ha.~e P6eo.. The total Purchase Price for the Property to be pure 'hasexl by the BOYNTON BEACH COM2VIUN~¥ REDEVELOPMENT AGENCY, from thc 8~llor, ia the aura or__Twelve Tl~.~and DOLLARS. The pm'ch~c shall be contil~ont upon thc following. 2 3.1 Buyer's receipt of an appraisal for the Property reflecting that the property has a fair market value equal to or exceeding the purchase price urlless purchase is otherwi~ appr°ved by the CRA Board. 3.2 Approval of the Agreement and fight to close by the Buyer, CRA Board, on or before _¥,ne ~0th ,2004. 3.3 The Buyer's obligation to close on the Property is contingent on Buyer acquiring the parcel for the sum total of Twelve ThOn~and 3.4 Buyer's obligation to consummate thc transaction referenc~ herein is contingent on the Seller conveying the real property fl~ and clear of all liens, leases, claims and interest of third parties. 4.0 In.?,~-.th,,,.,, Buyer shall have until the "elodng &ate", to make. any in~ections it doem~ necessary. (the "Inapeefion Period"). Daring the Inspect/on P~r/od, Buyer may determine that thc Property baa a&.quate ~;ervicea available and that all' Federal, State. County and local laws, rules and regulations have been and are currently being compl/ed with relative to tho Property. This Agreement/s contingent upon Buyer, at its sole cost and expense, obta/n/ng and accepting a satisfactory Phase I Env/ronmental Audit and an asbestos survey wh/ch may include sampling of the property. Seller cor~senta to alt sampling that may be reqttired to oompktc the asbestos survey. In the event that the Phase ! Envw0nmental Audit reveals the exis~[u~v ut flxc potential existence of oontam/nation, hazarciom conditions, hazardous waste or other adverse conditions as defmed by applicable Federal and Stat< Statutes, Rul~ and Rogulatiom, then Buyer droll have the fight of obtaining a Phase II Audit of the property. In the event that any inspections and any review of documents conducted by the Buyer relative tn the Property during thc period prior to the Closing Date prove mmatisfactory in any fashion, the Buyer, at its sole discretion, shall bo entitled to terminate th/s Agreement by 0roy/ding written notice to Seller and receive an framed/ate refund of any deposits made pursuant to Paragraph 2.3 only or pwceed to clos/ng as set'forth. 5-0 '~videnee nfTjtle 3.I Deljve,'.v of' Title ~om,'~;~ent. Within twenty (20) dayl of the Bttyer'~ BBCRA Board approval of the fight to purchase, Buyer shall obtain a Title Commitment, at Buyer's cost, and shall deliver a copy of the 'title. Cz~mmitment to Seller's attorney within thrcc (3) days of receipt of thc title commitment. 5.2 Marlcetuhle Title. Seller shall convey marketablc title to the Property, subject to the Permitted Exceptions. Marketable Title shall be clotermined according to the Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have ten (10) days from the 'date of receiving the Title Commitment to examine/;amc. If title is found del,.ct/ye, Buyer shall within ton (10) days ofrecdvh~ thc title commitment notify Seller in writing of aaV specific title defects. If Seller has not reccivcd written notice from Buyer of a title defect, Buyer shall waive any titl~ objex~tiotm, and accept tho title in its existing condition. The Buyet'~ notice of the title defects shall include a statement of how the defects should be cure. d. If said d~f~ets read~, title unmark~ble (other thaa ea~umbra~es that would o~e~se be p~d closing). Sdler ~ ~ve fi~ (15) days ~om ~t of ~ce ~ w~ ~ ~move ~d ~f~$, pm~ng ~t Se~ ~1 not be obligat~ W ~md mo~ ~ $ m- litigation ~ ord~ to c~ or ~t my nofic~ title ~f~t; ~ if Se~er is u~~ r~o~g ~ch def~ wi~ s~d ~m~ Buy~ s~ ~vo ~ ~fioa of ~or ~fing i~ existng ~a~on Mt~ut a ~on of ~o P~o Price, or of t~g ~ A~ent flint Seller wm ~~s~ M r~o~g s~h def~t(s). U~n ~e ~tioa of ~is noi&~ guy~ nor S~R~ shall have ~y ~er d~is or obfigafiom ~~ except aa p~vi~ ~s A~mt. Seller a~s ~ if title is fo~ m be ~~lo, Seller ~R effom to co~t a~ ~of~g h title, ~in ~o time pwvid~ ~orefog, ~d ~bjmt m s~M above. 6.0 Smam.g. Prior to the Closing Date, Buy=r ~my obtain at its expense a survey (the "Survey") of the Property' showing all improvemeat~ thereon prepared by a land surveyor or engineer reg/stcr=d and lic~macd in the State of Florida. The Survey ghall show the legal description of the Property to be the same as Exhibit "A" attached berne. The Buyer may require any waaonable revision to the legal de'priori so long as any such revision does not result in Seller being r~luir~d to convey any lanfls or fights other than those described to be within the Propm-ty described on Exhibit "A" attached hereto. A~y objections must b~ delivered to Seller's attorney no later than the twenty (20) d~ys prior to Closing Date. 7.0 ._qeller's Repre.~mrion Seller hereby wpmseats m~d warrants to Buym aa of the Effective Date 'and as of the Closing Date aa follows: 7.1 Seller's A.thn~.ty. SeRer has legal right and ability to sell thc Property pur.~uant to this Agr~emeat. Th~. ext~mtion and d~livery of this Agreement by Seller and the consummation by Seller of the transaction contemplated by this Agre~ent is withia Seller's ca0acity and all requisite action has been takes to make this Agr~eraent valid and bindiag on Seller in accordance with its tm'ms. 7.2 h~Legal_Baz. The execution by Seller of fids A~ent-and the comummaiion by Seller of the transaction hereby contemplated does not, and on the Closing Date will not, result in a bw'~ of; or default under, any indenture, agn'~eraeng lease, instnn'nent, pending guardianship, obligation or thc agreement of lhnited parmersh/p, limited partnet~p certificate or related ineWuments affecting the .qe]l~r, to which Seller is a party and which affects all or any portion of the Property, or to Sellers knowledge, constitutes a violation of any Governmental Requirement. 7.3 Nn Def'anlL Seller is not in default under any indcmture, mortgage, de~l of trust, loan agreement, lea.so or other agreement to which Seller is a party 'ami wldol~ '~'f¢¢ts any port/on of the Pwperty. 7.4 T_itlm. SMler is the owner of~le title to thc Property, fir~e and clear of all li~, micmnbrancc..s and reatrictionc, of any kind, except the Permitto~l Exceptions arid encumbrances of records which will be paid at Closing. 4 7.5 f.iti?ti,~n, There are no actions, suits, proceedings or investigations pending or, to the knowledge of Seller, threatened again~ Seller or the Property aff~c~q~ say portion of the Property. 7.6 p~rfien in png.~nlnn. There are no parties other than Seller in possession of any portion of the Pwpeaqr aa a lessee with the exception of _. ]:~T/A~. , tenant at sufferance, or trespasser, hereinabove set forth in connection with the current uso of the Property. Seller may allow uae by othern during term of this Agr~eanong but Property shall be vacant at time of closing. Seller shall be obligated to insure that any lease presently in effect, as of the date of this ,~greement shall be terminated by providing lawful notice to the tenants and. obtaining the possession of the property. 7.7 Rnyer's Rt~nedi~ fnr ~,lle. r'g ]Vfisre:?~.ntatlnnn. ~ ~ event ~at B~y~ b~mes a~e ~ior to Clos~g ~ ~y of Sell~'s w~fi~ or ~r~mfiom set fo~ ~ ~s A~m~t ~ ~t ~u~ m~y ~ ~ior to Closin~ ~d in ~e ev~t Sell~ is u~le W ~d~ ~y such ropmson~on or w~ ~ ~ ~ct ~ of &e Clos&g Date, Buy~ my eisa: (a) t~to ~s A~eem~t by ~fl~ ~tle~ thief to Seller. in w~gh ~mt ~o p~ ~11 be' roliev~ of ~t ~ ~ligatio~ ~e~d~ or (b) el~t to clog ~er ~s ~~ nn~i~ding ~e f~l~ of such ~~fion ~d w~, ~ w~ch ev~t ~e Closi~ s~R be d~ a w~v~ by Buy~ efta ~1~o ofs~h r~r~on ~d w~. 8.0 _R~yePs R.m?re.n~.nta~icms. The Buyer h~by r~pc~ ~ ~m W ~e Sell~ ~ of t~ Closing D~ ~t Buy~ ~ ~ll ~d complete aut~fi~ ~bj~t ~ ~ws appfioable to Buyor, to p~c~e fl~ PwpetW ~ ~ oomply with ~e t~s of ~s A~L ~d ~ ox~ufion md defiv~ of ~s A~~t by Buyer md ~e ~m~afion by Buy~ of &o ~fion ~oby con~p~ ge ~thin Buy~s cavgiW ~ ~1 ~im ~fion ~ ~ ~en to ~e this A~e~ent v~d ~ b~g ~ Buy~ ~ ~~ce wJ~ i~ ~. 9.0 Canditinng Preen/lent to ClA,~in~. Each of ~e follow~ ev~ or o~e~es (~e "Con~fions ~ent") ~ be a ~n~fion P~M~t m Buy~s obfi~fion W close ~fion, ff ~e Con, flora ~ce~nt ~vo not b~ satis/l~ on or ~fo~ .fl~e Closh~ Date. Se~er ~ ~ve t~ (10) ~ ~t~ w~ch to safis~ ~e u~is~to~ wn~tion ~ ~fld Sellg not ~ve ~ne ~ ~ s~d lOgy ~o~ Buyer sh~l ~ve ~e fi~t to ei~ (a) ~te A~ent by ~ ~ti~ ~e~of ~ Seller, wh~u~n Buyer ~ Seller ~ be ~liev~ of f~or obliga~o~ ~r ~g A~at; or ~) ~ive t~ con~tion ~ clo~. 9.1 R~rase, maliana. The material representations and wawaaties made by Seller in this Agreement shall be true and correct on the Closing Date subject to the 10-day extension provided ia Paragraph 9 above. 9.2 ,qelleeg Ahli~ztinne. Seller shall have performed all coveaants, agreements, and ol~hgations and complied with all conditio~m ~oquired by this Agreomeat to be performed or complied with by Seller prior to the Closing Date. 9.3 The Property shall be free 'and clear of any persons, tenants, personal property of any kind or related appurtenances on the Closing Date. In lite event $~llra is unable to satisfy this representation, the Buyer shall have the option to extend the closing for thirty (30) days to insure that the Property/s vacant. 9.4 S~llor shall make available (at .qel].er'.~ office or Seller's attorne.~s office) to Buyer no latex than twenty (20) days following the Effective Date of this Agreement, copies of all documents which Seller may have in its possession pertaining to the Property including, but not limited to, building plans, arohitectural p 'Inns, building permits, impact fcc assessments, notices of special assessmen~ notices of sewer fccs and water fees, unrecorded restrictive covensnt~, variance applications/approvals, special exception application/approvals, en~neering plans, developer agreements, environmental reports, surveys aud prior title insurance policies, title commitments, and bile exceptions pertaining thv~to. 9.5 S~lk,'r has no aomal knowledge nor has it received any written notic~ that there has been any discharge of hazardous material at the Property. As used her~in, the term "Hazardous Material" shall mean any substance, water or material which has beem determined by any state, federal or local governnaent authority to be capable of posing a risk of injury ta health, sa/cry and laropexty, including, but not limited to, all of those materials, wastes and substances designated as ~ous or toxic by the U. S. Enviromnental Protection Agency, tho U'. S. Department of Labor, thc U.S. Department of Transportation, or any other state or local govcr~lental agency now or hereat~r authorized to regulate materials and ~ubatances in the environment (collectively "Govcrmnental Authority(ies)"). Seller acknowledges that Buyer faust rely on its E, tvLromncntal rcport~ and a.~ossments aa ~qell~r is not aware of Property's environmental condition other than as stated above. 9.6 Seller shall continue to posse~s thc property until closing and shall maintain thc same/n its present condition, reasonable wear from ordinary use excepted. Risk of loss from fire,, casualty, or other liabilities not caused by the Buyer's gross negligence or intentional ac~s, 'shall be Seller's until closing. Scll~r shall maintain adequate insurance against loss, including ex~nd~ coverage, during such period. If the property ~ damaged by £u'v ~ other ~a,~ualty to clo~ing, Buyer shall have the right to take thc property "as is" togcthcr with insuranc~ proceeds, if any, or reccivca rcductiou hi thc purcha.so price of tho property in an m-aount eq -tml to the los~. The parties shall agree to the reduction, if any, but if the panics cannot agree upon the amount of loss, an independent appraiser/adjuster shall be sclected whose determination shall be binding. The cost of the appraiser/adjuster shall be borne equally by the parties hereto. 10.0 Cln.~ing. Tho Closing shall occur at a mutually agreed time on or bet0re thirty (30) days fi'om the date this Agreement is approved by the CRA Board 'and shall take place at a mutually agreed upon location. 11.0 ~qeller'.~ elo~ir,g r)o,;,mea~.~. At clozlng, Seller e, hall cl~livex the following documents ("Seller's Closing Documents") to Buyer: 6 11.1. Genev~! Wsrr~n~ Der.d, The StamW~' G~ W~ D~ ~1 ~ d~y ex--ted ~ ~owledg~ by ~ller ~ ~ ~o conv~ ~ Buy~ g~ ~ ~~l~ f~ ~ple rifle W ~c Pro~ ~ md cl~ of ~1 li~s, e~b~ ~ o~ ~fio~ of title, o~er ~ ~e P~ Ex~fi~ ~d ~cepfio~ uot ~ly obj~ ~ by Buy~. 11.2 M,-,~h~;o.'n r.i~n _Aff/da~t,. A meehanic'n lien a/~idav/t/n the customary form, attea~g that (a) no/ndividual, entity or Governmental Aathor/ty ha~ any elahn against the Property under the applicable mechanic's lien law, (b) no individual, entity or Governmental Authority i~ either in possession of the Property or lma a promia~ry interest or cla/m in the Property (except Buyer), and (c) no improvements to the Property have been made for which payment ha~ not been made. 11.3 ~ An affidavit/n fen, aad ~tmt-.-t reaaonabl¥ satiafaetory to the Title Company to facilitate the. insuring of the "gap", i.e., the dele~/ng aa an except/on to the Title Comrnila~eaxt any mattc~ appearing b~ween the effective dh.re of' the Title Commitment and the effective date of the Title Policy. 11.4 lVlgPTA. A FIRPTA Non-Foreign Entity. Transferor Certi/i~ate or Exemption Certificat~ or document evidencing withholdings, in accorttanoe with Section I445 of the Internal Revenue Code. 11.5 -I)_ReZ~. A DR-219 Form as requital for r~.ording. 12,0 'i~uv~"n O, Ic,~ing Doe,,-n~,nt~ At olosin~ Buy~ ~R deliver the fo~o~g do~ts ~s Clos~g ~e~ents) ~ Sdl~; 12.1 Appmwl, W~ ~c~entafio~ of B~$ au~ofi~ ~ p~h~e ~e p~ope~. 13.0 Ch~.~i.E Peaeedu~. The Closing shall proceed in the following manner: 13.1 Tranaq~rafgunrl~. Buye~ shall pay the Purclmae Price to the Seller by transfer of fund~ to fl~¢ account dcaignatod by Sollar. the Buyer. 13.2 ~l;v,*ry ar.. Doeumenta. Scl]or shall deliver Seller's Closing Documents to 14.1 _Ad Valorem 'l'a~e_~. Seller ahall ~mply with Section 196.295, Florida Statutes, with respect to the payment of prorated ad valorem tax~s Iht the year of closing into escww with the Palm Beach County Rev~m~ Colla,-tor. 14.2 g~li~.,~ ~ln~ing C~_atn. S~ller ahall pay for the following items prior ~n ar at the time of Closing: 7 Cost of prey/ding marketable title as. prey/deal here/n; documentary stamps on the Warranty Deed, 14.3 Fmyer'.q C, lo~in~ C.,.~l~, Buyer shall pay for the following items prior to or at the t/me of Closing: Recording of Deeds; title insurance premium; survey costs, appraisal costs, Phase I, Phase II (if applicable), Environmental Assessment Report cosls and relat~ expmses, 15.0 p~s.sior,_ Buyer shall be l/ranled tull possession of the PropeWj at Closing. 16.0 Cxmd~mnstion. In ~e ev~ of ~e i~fimfi~ 0f ~y p~e~ by ~y ~wimum~ Au~fi~ w~ch a~l rel~ ~ ~ pwpo~ ~ of ~y posen of ~c Pro~ by ~iuent ~m~n prior to Clos~g, or in ~e ~t of &e t~ of ~y ~on of ~ ~o~ by o~t do~ p~r to Clofing, $ell~ ~ pro~tly no~ Buy~ ~d Buy~ ~ ~~ wi~n fifl~ (15) ~ys ~ r~ipt by Buy~ of ~c noli~ ~om Seller d&~ (1) t~to ~ A~emm~ wh~pon Seller ~ Buy~ shill be ~l~ of ~I ~ '~s~nsibihW ~ ob~gafio~ h~r; or (2) p~d to clo~ ~s ~tion. SeH~ h~eby ~ w f~fi$h Buyer wi~ ~fl noti~ of a ~po~ ~n~on ~n five (5) b~u~s ~ys ~r Sell~s ~pt ofnoh~cafiom Sho~d Burr t~i~ tiffs A~m~ ~ p~e~ hereto ~11 be r~lea~ ~ ~sr re~ve oblig~o~ ~ ~i~fi~ h~~. Shou~ Buy~ el~t not to ~te, ~c p~ lwteW ~1 p~d to Closing ~ Sell~ ~all ~si~ all of ic~ fi~t, rifle ~ ~r~t i~ ~I aw~ds ~ ~fion wi~ such t~g to Buy~. 17.0 hIafie~. Notices shall bc in writing delivered by han~ or by certified mail, return receipt requested, or overnight delivery by nationally recognized service, to the address~ at the address set forth herein, or by facsimile transfer, 'and shall be deemed to have been delivered on thc date of receipt of such notice, if hand-delivered, or, if mailed, on the date thc receipt for which the certificd mail is signed or refused, by the ~_a.d~es~ or its authmi~ed agent or employee, or if by facsimile transfer, by confirmation of tran.qmission. Eith~ party may change tho address for aoticc to that pm'ty by dcllvcrkn' g written notice o£such change in the ra~nr~.r pmv/ded -above, sUCh change to be effective not sooner than tea (10) days after the da~ of notice ofcimage. If dthar party relies upon a hand delivery aa de,scribed herein, then the parW uning th/s mediura shall ma/ntain an appropriate receipt of delivery, in the normal cours~ of business. AGENT FOR BUYER: THE URBAN GROUP, INC. c/o Howard Steinholz 1424 $, Andrews ~venue, Suit~ 200 Fort Lauderdale, FL 33316 A~ authorized agent for the I~BCRA SELLEr: Juanita Kelley & Sam Kelley, 129 N]~ 9"' Avenue Boynton Beach, FL 33435 18.0 ~f~.lt If the Buyer shall fail or ref~e to comummate the transaction in accordance with the terms and provisions of this agreemmt, all dc-posits and intmest shall be forfeited to Seller as agreed upon liquidated damages. In thc eve, at of such dethult by Buyer, Seller's sole and antirv remedy shall be restricted to retention of the dvposit plus all aeaamd interest, if any, and Buyer shall have no other responsibility or liability of any kit~ to Seller by virtue of'such defkult. In thc evem of a default by Scllcr, thc Buyer ~ have all remedies available to it which slml[ include the return of thc earnest money and accrued interest as liquidated 'damages ~md/or equitable relief such ~ ~ecific per~t)rmance. The Buyer ~hould be entitled to equitable r~licf to enforce the terms and conditions of this agr~eaxtent either through a decree for ~pecific performance or injunctive relief. 19.0 Misr,~llam~am. 19.1 C~-nte.marf8. This Agreement may be executed in any number of couatwpmlz) m~y one and all of which shall cormedtute the contract of the parfir,.q. The paragraph headings herein contained arc for the purposes of identification only and shall not be coasi~ in co]~tmln$ this A~..ement. 19.2 Ame, ndm~. No moditicarion or amendment of this Agreement sbadl be of' any forCe or effect unless in writing executed by both Seller and Buyer. 19.3 Attamety..~' Fe~.~. If any party obtains a judgmcaa against mxy other party by reason of breach of this Agreement, attorneys' fees and costs shall be included in such judgment. 19.4 C~vem~nE Law ~nri V~n.~., This Agreement shall bo interpreted in ac, cordance with the laws of the State of Florida, both substantive ami mm~l and venue shall be in Palm Beach County, Florida. 19.5 Entire. A Ln-eemo. nt' This Agreement set forth the entire agr~ment between Seller and Buyer relating to thc Property axed all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the p~ti~. 9 19.6 Cx~mpntatinn of r)~t~. If any date computed/n the mannex hore/n ;et forth t~alls on a legal holiday or non-b~/ness day or non-banking day, then such date shall be extended to the first business day following sa/d l~gal holiday or non-bus/ness day or non-bank/ag day. 19.7 l~ImRmt~ling. This Agreement or any notice or rrmmorandum hereof may not be recorded hi tlw publiG records of any county in the State of Florida. 19.8 _Nc, ~rnke, m. Seller and Buyer each rel~msent to &e o~ wi~ ~y ~n~ioned bw~, s~p~n or agent in ~tion wi~ tho ex~ufion o~ ~m~c ~ ~e o~er p~y ~1 ~t be r~ W pay ~y co~ission w~ever ~ect to ~s A~m~t r~g ~m ~e ~fiom of ~e p~ m~ng such r~s~m~o~. Sdler ~d Buyer in ~o~ ~ ~ ~tafio~ of the Flofi~ Stem ~d law, e~h in~ ~d hold ~oh o~ ~s ~om ~ ag~st ~y ~d ~1 D~vs, ~ ~s, h~iHti~ e~ (inelu~g ~ut l~on, ~o~ble a~meys' ~d p~ f~) ~ting ~m a D~N by ~e ~mnlry~ p~ of~o foregoing 19.9 Aee~_p. t~,~aa ,-,seDeM. The ace~tance of the Deed by Bayer shall be deemed full peffonnanoe and discharge of every agreement and obligation on the part of Seller to be performed pursuant to this Ageement, ~xcept those which are specifically stated to survive delivery of the Deeds and closing. 19,10 Inlmlm~t/~. Should any term or proviaiott of tiffs Agreement bc subject to judicial interpraation, it is agreed by Seller and Buyer that the court interpreting or construing the same shall not apply a pwsxtmption that tho toma or providon shsll be more strictly eomtmed against the party who itself or through its ageats and attorneys of each party have participated in the preparation oft_he temas and provisiona at'this Agreement and that all terma and Dwvisions have been negotiated. 19.11 C. apft~n~; Heading.e, 'l~,tej Ca~fions, headings, section and subsection numbers in this Agreement are for convenience and reference only, and shall have no effect upon the meaning of any of the trams or provmon aerein. 19.12 '5/g. idr_~. Failure of cithcr party to insi,~t upon oomphanee with any term or provision hereof shall not constitute a waiver thereof, and no waiver of any term or provision of this Agreemeaxt e, hall be effective tmleas it is in writing and signed by the lmrty against whom it is asserted. Any waiver of any term or provision of this Agreement shall only be applicable to the ~pe~ific term or provision aad instance to which it is related, and shall not be deemed to be a continuing or futur~ waiver as to such term or provision or as to any other term or provision. 19.13 No Third Party Rene. fie, iary. The terms and provisions o£this Agreement ar~ for the exclusive beneiit of Seller and Buyer, and not for the benefit of any third party, and this Agreement shall not be deemed to have conferred ally rights, exprcss or implicd, upon any third party. 19.14 ~: Radon is a naturally occurring radioactive gas that, when it 10 has a~oumulated in a building in sufficioat quantitie% may present lgaRh risks to persoas who arc expoge, d to it over time. L~vols of radon that exceed federal and state guidelines have b~m found in buildings in Florida. Additional information regarding radon and radon te~ting may be obtained from your county health unit. IN WITNESS WHEREOF, the parties have executed this Agrccraont as of the date indicated below, BUYER: WITNESSES: THE URBAN GROUP, INC. as agent for BBCRA ~Print Name) (Pd~,t Name) BY: Barbara Matla~k Date Executed: .. J~n~. 9.5. ~OOa WITNESSES: SELLER: (Print Name) (Print Name) BY: BY: Suanita Kelley Juanita Kelley for Sam Kelley, ~r. Date Executed: __June ?g~ 2004 14:\ 199~98046 .~A C;M'~P,,mhan~AndSa[cl~:,l['~.o D.doc 11 WITNESSES: BUYER; APPROVED BY CRA BOARD 12 LEGAL DESCREPTION Palm Beach Country Club Estates, Lot 9, Block 4, according lo tl~e plat thereof, as r~corded in the Official R~.ord Book 11, at page 43 and O.R Book 11267, at page 1265 of the Public Records of Palm Beach County, Florida, Situate, lying a~d being in Palm Beach County, Florida. HP O~ceJet Personnl l~nterlFax/Copier 1'P.127'/54482 OK Jtm-25-04 14:37 ' ~lUn-25 14:29 00:07:21 0025~0030022 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY AGREEMENT FOR PI~RCHASE AND SAI,E OF REAI~ PROPERTY This Agreement for Purchase and Sale of Real Property (hereinafter the "Agreement"), is made and entered into as of the /JT/~Cday of June , 2004, by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (hereinafter referred to as "Buyer") and Juanita Kelley (hereinafter referred as "Seller"). In consideration of the mutual agreements set forth below, the parties agree as follows: 1.0 Definitions. The following terms when used in this Agreement shall have the following meanings: 1.1 Batter. BOYNTON BEACH COMMU2qlTY REDEVELOPMENT AGENCY, a public body corporate and public, created pursuant to Chapter 163 of the Florida Statutes. 1.2 B~. THE URBAN GROUP, INC., a Florida Corporation authorized to negotiate this Agreement and make deposits on behalf of the Buyer 1.3 Closing. The delivery of the Deeds to Buyer concurrently with the delivery of the Purchase Price to Seller. 1.4 ~. The date of the Closing as determined in accordance with Paragraph 10 below. 1.5 Deed. One (1) Statutory General Warranty Deed which shall convey the Property from Seller to Buyer. 1.6 Effective Date. The date that this Agreement is executed by the last party to sign it, party for purposes of this section only are Seller and Buyer's Agent. 1.7 Governmental Authority. Any federal, state, county, municipal or other governmental department, entity, authority, commission, board, bureau, court, agency or any instrumentality of any of them which has jurisdiction over the Property. 1.8 Governmental Requirement. Any law, enactment, statute, code, ordinance, rule, regulation, judgment, decree, writ, injunction, franchise, permit, certificate, license, authorization, agreement, or other direction or requirement of any Governmental Authority now existing or hereafter enacted, adopted, promulgated, entered, or issued applicable to the Property, or to any appurtenances, structure, use or facility, on or adjacent to, the Property. 1.9 Property. That certain real property located in the City of Boynton Beach, Palm Beach County, Florida, and more particularly described as parcel on Exhibit "A" attached hereto and made a part hereof, together with all improvements, property rights, easements, privileges and appurtenances thereto. 1.10 Eumhase,~5~. The price the Buyer shall pay the Seller for the Property as more fully set forth in Paragraph 3 below. 1.11 geller. For purposes of this Agreement, the Seller of the Property. 1.12 Title Commitment. A title insurance commitment issued by or written on the Title Company, agreeing to issue the Title Policy to Buyer upon payment of the Purchase Price and recording of the Deed and execution and recording (if applicable) of other closing documents. 1.13 ~. The title insurance company, licensed and authorized to conduct business in the State of Florida as selected by Buyer. 1.14 Title Policy. An ALTA Form B Owner's Title Insurance Policy in the amount of the Purchase Price, insuring Buyer's title to the Property, subject only to the Permitted Exceptions. 2.0 Deposit and Right to Close. 2.1 For good and valuable consideration of the deposit set forth below paid by Buyer to Seller, Seller hereby grants to Buyer and Buyer hereby accepts from Seller the right to purchase and acquire the Property from Seller on the terms and conditions hereinafter set forth such that the payment of the Purchase Price shall be as set forth in Section 3.0. Buyer shall place a non- refundable deposit of One Thon.qand Dollars ($ 1~000_00 ) with Buyer's Agent who shall tender said amount to Seller on the date this Agreement is effective. This deposit and any deposit held pursuant to Section 2.3 shall be subtracted from the total purchase price. 2.2 Buyer shall be obligated to give Seller notice within 45 days of the Effective Date, that Buyer has elected to close in accordance with this Agreement. Whereupon, Seller shall be obligated to provide to Buyer all prior title policies and surveys in its possession pertaining to the subject real property. 2.3 Upon exercise of the right to close, Buyer shall place a second deposit of Two Thousand Dollars ($ 2~000_00 ) with Buyer's Agent. 2.4 If Buyer does not exercise this right to close within the period stated above in Paragraph 2.1, this right of the Buyer shall automatically and immediately terminate without notice and the parties shall automatically be released fi:om further liability hereunder. In the event Buyer fails to exercise this right, Seller shall retain the deposit sum paid as stated in Section 2.1 as the sole and exclusive remedy for failure of Buyer to close. 3.0 Purchase Price. The total Purchase Price for the Property to be purchased by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, from the Seller, is the sum of One Hundred Thirty, Five Thon.qand DOLLARS ($135~000.00). The purchase shall be contingent upon the following. 2 3.1 Buyer's receipt of an appraisal for the Property reflecting that the property has a fair market value equal to or exceeding the purchase price unless purchase is otherwise approved by the CRA Board. or before 3.2 Approval of the Agreement and fight to close by the Buyer, CRA Board, on July 15 ,2004. acquiring the ($135,000.00). 3.3 The Buyer's obligation to close on the Property is contingent on Buyer parcel for the sum total of One Hundred Thirty Five Thousand Dollars 3.4 Buyer's obligation to consummate the transaction referenced herein is contingent on the Seller conveying the real property free and clear of all liens, leases, claims and interest of third parties. 4.0 Inspections_ Buyer shall have until the "closing date", to make any inspections it deems necessary. (the "Inspection Period"). During the Inspection Period, Buyer may determine that the Property has adequate services available and that all Federal, State, County and local laws, rules and regulations have been and are currently being complied with relative to the Property. This Agreement is contingent upon Buyer, at its sole cost and expense, obtaining and accepting a satisfactory Phase I Environmental Audit and an asbestos survey which may include sampling of the property. Seller consents to all sampling that may be required to complete the asbestos survey. In the event that the Phase I Environmental Audit reveals the existence or the potential existence of contamination, hazardous conditions, hazardous waste or other adverse conditions as defined by applicable Federal and State Statutes, Rules and Regulations, then Buyer shall have the right of obtaining a Phase II Audit of the property. In the event that any inspections and any review of documents conducted by the Buyer relative to the Property during the period prior to the Closing Date prove unsatisfactory in any fashion, the Buyer, at its sole discretion, shall be entitled to terminate this Agreement by providing written notice to Seller and receive an immediate refund of any deposits made pursuant to Paragraph 2.3 only plus interest paid hereto or proceed to closing as set forth. 5.0 F. vidence of Title. 5.1 Delivery, of Title Commitment. Within twenty (20) calendar days of the Buyer's BBCRA Board approval of the right to purchase, Buyer shall obtain a Title Commitment, at Buyer's cost, and shall deliver a copy of the Title Commitment to Seller's attorney within three (3) days of receipt of the title commitment. 5.2 Marketable Title. Seller shall convey marketable title to the Property, subject to the Permitted Exceptions. Marketable Title shall be determined according to the Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have ten (10) days from the date of receiving the Title Commitment to examine same. If title is found defective, Buyer shall within ten (10) days of receiving the title commitment notify Seller in writing of any specific title defects. If Seller has not received written notice from Buyer of a title defect, 3 Buyer shall waive any title objections, and accept the title in its existing condition. The Buyer's notice of the title defects shall include a statement of how the defects should be cured. If said defects render title unmarketable (other than encumbrances that would otherwise be paid at closing), Seller shall have fifteen (15) days from receipt of notice within which to remove said defects, providing that Seller shall not be obligated to spend more than ~ or initiate litigation in order to cure or correct any noticed title defect; and if Seller is unsuccessful in removing such defects within said time, Buyer shall have the option of either accepting the title in its existing condition without a reduction of the Purchase Price, or of terminating this Agreement by sending written notice of termination to Seller within ten (10) days after being notified by Seller that Seller was unsuccessful in removing such defect(s). Upon the termination of this Agreement, neither Buyer nor Seller shall have any further rights or obligations hereunder except as provided in this Agreement. Seller agrees that if title is found to be unmarketable, Seller will use diligent efforts to correct all defects in title, within the time provided therefore, and subject to the limitations stated above. 6.0 Stmmg. Prior to the Closing Date, Buyer may obtain at its expense a survey (the "Survey") of the Property showing all improvements thereon prepared by a land surveyor or engineer registered and licensed in the State of Florida. The Survey shall show the legal description of the Property to be the same as Exhibit "A" attached hereto. The Buyer may require any reasonable revision to the legal description so long as any such revision does not result in Seller being required to convey any lands or rights other than those described to be within the Property described on Exhibit "A" attached hereto. Any objections must be delivered to Seller's attorney no later than the twenty (20) days prior to Closing Date. 7.0 Seller's Representation. Seller hereby represents and warrants to Buyer as of the Effective Date and as of the Closing Date as follows: 7.1 Seller's Authority. Seller has legal right and ability to sell the Property pursuant to this Agreement. The execution and delivery of this Agreement by Seller and the consummation by Seller of the transaction contemplated by this Agreement is within Seller's capacity and all requisite action has been taken to make this Agreement valid and binding on Seller in accordance with its terms. 7.2 ~. The execution by Seller of this Agreement and the consummation by Seller of the transaction hereby contemplated does not, and on the Closing Date will not, result in a breach of, or default under, any indenture, agreement, lease, instrument, pending guardianship, obligation or the agreement of limited partnership, limited partnership certificate or related instruments affecting the Seller, to which Seller is a party and which affects all or any portion of the Property, or to Seller's knowledge, constitutes a violation of any Governmental Requirement. 7.3 No Default. Seller is not in default under any indenture, mortgage, deed of trust, loan agreement, lease or other agreement to which Seller is a party and which affects any portion of the Property. 7.4 Title. Seller is the owner of marketable title to the Property, free and clear 4 of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions and encumbrances of records which will be paid at Closing. 7.5 Litigation. There are no actions, suits, proceedings or investigations pending or, to the knowledge of Seller, threatened against Seller or the Property affecting any portion of the Property. 7.6 Parties in Possession. There are no parties other than Seller in possession of any portion of the Property as a lessee with the exception of_Sam Kelley~ Ir. & Brandon Kelley,  tenant at sufferance, or trespasser, hereinabove set forth in connection with the current use of the Property. Seller may allow use by others during term of this Agreement, but Prcpe.xZ sba!! be · the '~o*- ~,r ,h;~ Agreement oh~ll h,~ ,,:,.-,~;.,~,,:,.-1 b3 ...... ;rl;.~r ! .... fi.1 nnfipo-t-~ i-ho tonants-and nht~inlnoc> tho .......... p~,~ .... i,,, ~,eth ...... ~--~----~"t'" Possession by Juanita Kelley as allowed by the Uniform Relocation and Acquisition Act of 1970, as amended, evidenced by a Ninety Day Notice of Assurance. 7.7 Fluyer's Remedies for Seller's Misrepresentations. In the event that Buyer becomes aware prior to Closing that any of Seller's warranties or representations set forth in this Agreement are not true any time prior to Closing, and in the event Seller is unable to render any such representation or warranty true and correct as of the Closing Date, Buyer may either: (a) terminate this Agreement by written notice thereof to Seller, in which event the parties will be relieved of all further obligations hereunder; or (b) elect to close under this Agreement notwithstanding the failure of such representation and warranty, in which event the Closing shall be deemed a waiver by Buyer of the failure of such representation and warranty. 8.0 [luyer's Representations_ The Buyer hereby represents and warrants to the Seller as of the Closing Date that Buyer has full and complete authority subject to laws applicable to Buyer, to purchase the Property and to comply with the terms of this Agreement, and the execution and delivery of this Agreement by Buyer and the consummation by Buyer of the transaction hereby contemplated are within Buyer's capacity and all requisite action has been taken to make this Agreement valid and binding on Buyer in accordance with its terms. 9.0 Conditions Precedent to Closing. Each of the following events or occurrences (the "Conditions Precedent") shall be a Condition Precedent to Buyer's obligation to close this transaction. If the Conditions Precedent have not been satisfied on or before the Closing Date, Seller shall have ten (10) days within which to satisfy the unsatisfactory condition and should Seller not have done so within said 10-day period, Buyer shall have the right to either (a) terminate this Agreement by giving notice thereof to Seller, whereupon Buyer and Seller shall be relieved of all further obligations under this Agreement; or (b) waive the condition and close. 9.1 Representations. The material representations and warranties made by Seller in this Agreement shall be true and correct on the Closing Date subject to the 10-day extension provided in Paragraph 9 above. 9.2 Seller's Obligations. Seller shall have performed all covenants, agreements, and obligations and complied with all conditions required by this Agreement to be performed or complied with by Seller prior to the Closing Date. 9.3 The .Prepe_~_t ..................... ~h~n he ~ ~,,,~ ~q,~,- ~,e ~,,,,, persons, ten,_ts, personal ................... ~.~ ......... .Possesston b7 Jum~a Kelley ~ allowed b~ the Um(o~ Relocation ~d Acquisition Act of 1970, as mended, evidenced by a Nbe~Day Notice of .Xss~mce. - 9.4 Seller shall m~e available (at Seller's office or Seller's a~omey's office) to Buyer no later th~ ~en~ (20) days following the Effective Date of tbs A~eement, copies of all documents w~ch Seller may have in its possession pe~ai~ng to the Prope~ including, but not limited to, building plans, ~chtec~al plus, building pe~its, impact fee ~sessments, notices of special assessments, notices of sewer fees ~d water fees, ~ecorded res~ctive coven~ts, vm~ce applications/approvals, special exception applicatio~approvals, engineering plus, ~ecorded developer a~eements, enviromental repo~s, s~eys ~d prior title ins~ce policies, title co~itments, ~d title exceptions pe~ai~g thereto. 9.5 Seller has no actual knowledge nor has it received any written notice that there has been any discharge of hazardous material at the Property. As used herein, the term "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U. S. Environmental Protection Agency, the U. S. Department of Labor, the U.S. Department of Transportation, or any other state or local governmental agency now or hereafter authorized to regulate materials and substances in the environment (collectively "Governmental Authority(ies)"). Seller acknowledges that Buyer must rely on its Environmental reports and assessments as Seller is not aware of Property's environmental condition other than as stated above. 9.6 Seller shall continue to possess the property until the time dictated by the URA, as ev. idenced by Ninety Day Let[..er of Assurance, after.closing and shall maintain the same in its present condition, reasonable wear from ordinary use excepted. Risk of loss from fire, casualty, or other liabilities not caused by the Buyer's gross negligence or intentional acts, shall be Seller's until closing. Seller shall maintain adequate insurance against loss, including extended coverage, during such period. If the property is damaged by fire or other casualty to closing, Buyer shall have the right to take the property "as is" together with insurance proceeds, if any, or receive a reduction in the purchase price of the property in an amount equal to the loss. The parties shall agree to the reduction, if any, but if the parties cannot agree upon the amount of loss, an independent appraiser/adjuster shall be selected whose determination shall be binding. The cost of the appraiser/adjuster shall be borne equally by the parties hereto. 10.0 C_lasing. The Closing shall occur at a mutually agreed time on or before thirty (30) days from the date this Agreement is approved by the CRA Board and shall take place at a mutually agreed upon location. 11.0 Seller's Closing Documents. At closing, Seller shall deliver the following documents ("Seller's Closing Documents") to Buyer: 11.1 General Warranty Deed. The Statutory General Warranty Deed shall be duly executed and acknowledged by Seller so as to convey to Buyer good and marketable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title, other than the Permitted Exceptions and exceptions not duly objected to by Buyer. 11.2 Mechanic's l,ien Affidavit. A mechanic's lien affidavit in the customary form, attesting that (a) no individual, entity or Governmental Authority has any claim against the Property under the applicable mechanic's lien law, (b) no individual, entity or Governmental Authority is either in possession of the Property or has a promissory interest or claim in the Property (except Buyer), and (c) no improvements to the Property have been made for which payment has not been made. 11.3 ~. An affidavit in form and content reasonably satisfactory to the Title Company to facilitate the insuring of the "gap", i.e., the deleting as an exception to the Title Commitment any matters appearing between the effective date of the Title Commitment and the effective date of the Title Policy. 11.4 FIRPTA. A FIRPTA Non-Foreign Entity Transferor Certificate or Exemption Certificate or document evidencing withholdings, in accordance with Section 1445 of the Internal Revenue Code. 11.5 DR-219. A DR-219 Form as required for recording. 12.0 lquyer's Closing Document~q, At documents (Buyer's Closing Documents) to Seller; closing, Buyer shall deliver the following property. 12.1 Annroval_ Written documentation of Buyer's authority to purchase the 13.0 Closing Procedure. The Closing shall proceed in the following manner: 13.1 Transfer of Funds. Buyer shall pay the Purchase Price to the Seller by transfer of funds to the account designated by Seller. the Buyer. 13.2 DeliveW of Documents. Seller shall deliver Seller's Closing Documents to 14.0 Closing Costs, Taxes, Prorations and Impact Fees. 14.1 Ad Valorem Taxes. Seller shall comply with Section 196.295, Florida Statutes, with respect to the payment of prorated ad valorem taxes for the year of closing into escrow with the Palm Beach County Revenue Collector. 14.2 the time of Closing: 14.3 the time of Closing: Seller's Closing Costs_ Seller shall pay for the following items prior to or at Current Real Estate Taxes -Mortgages, Liens, and other claims against property Ruver's Closing Costs. Buyer shall pay for the following items prior to or at Cost of providing marketable title as provided herein; Documentary stamps on the Warranty Deed. 15.0 Possession. Buyer shall be granted full possession of the Property at Closing. 16.0 Condemnation. In the event of the institution of any proceedings by any Governmental Authority which shall relate to the proposed taking of any portion of the Property by eminent domain prior to Closing, or in the event of the taking of any portion of the Property by eminent domain prior to Closing, Seller shall promptly notify Buyer and Buyer shall thereafter within fifteen (15) days after receipt by Buyer of the notice from Seller either (1) terminate this Agreement, whereupon Seller and Buyer shall be released of all further responsibility and obligations hereunder; or (2) proceed to close this transaction. Seller hereby agrees to furnish Buyer with written notice of a proposed condemnation within five (5) business days after Seller's receipt of notification. Should Buyer terminate this Agreement, the parties hereto shall be released from their respective obligations and liabilities hereunder. Should Buyer elect not to terminate, the parties hereto shall proceed to Closing and Seller shall assign all of its right, title and interest in all awards in connection with such taking to Buyer. 17.0 Notice. Notices shall be in writing delivered by hand, or by certified mail, return receipt requested, or overnight delivery by nationally recognized service, to the addressee at the address set forth herein, or by facsimile transfer, and shall be deemed to have been delivered on the date of receipt of such notice, if hand-delivered, or, if mailed, on the date the receipt for which the certified mail is signed or refused, by the addressee or its authorized agent or employee, or if by facsimile transfer, by confirmation of transmission. Either party may change the address for notice to that party by delivering written notice of such change in the manner provided above, such change to be effective not sooner than ten (10) days after the date of notice of change. If either party relies upon a hand delivery as described herein, then the party using this medium shall maintain an appropriate receipt of delivery, in the normal course of business. 8 AGENT FOR BUYER: THE URBAN GROUP, INC. 1424 S. Andrews Avenue, Suite 200 Fort Lauderdale, Florida 33316 As authorized agent for the BBCRA SELLER: Juanita Kelley 129 NE 9~h Avenue Boynton Beach, Florida 33435 18.0 Default If the Buyer shall fail or refuse to consummate the transaction in accordance with the terms and provisions of this agreement, all deposits and interest shall be forfeited to Seller as agreed upon liquidated damages. In the event of such default by Buyer, Seller's sole and entire remedy shall be restricted to retention of the deposit plus all accrued interest, if any, and Buyer shall have no other responsibility or liability of any kind to Seller by virtue of such default. In the event of a default by Seller, the Buyer shall have all remedies available to it which shall include the remm of the earnest money and accrued interest as liquidated damages and/or equitable relief such as specific performance. The Buyer should be entitled to equitable relief to enforce the terms and conditions of this agreement either through a decree for specific performance or injunctive relief. 19.0 19.1 Counterparts_ This Agreement may be executed in any number of counterparts, any one and all of which shall constitute the contract of the parties. The paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. 19.2 Amendment. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by both Seller and Buyer. 19.3 Attorneys' Fees. If any party obtains a judgment against any other party by reason of breach of this Agreement, attorneys' fees and costs shall be included in such judgment. 19.4 Governing l,aw and Venue. This Agreement shall be interpreted in accordance with the laws of the State of Florida, both substantive and remedial and venue shall be in Palm Beach County, Florida. 19.5 Entire A~eement, This Agreement set forth the entire agreement between Seller and Buyer relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the parties. 19.6 Computation of Da~es. If any date computed in the manner herein set forth falls on a legal holiday or non-business day or non-banking day, then such date shall be extended to the fn'st business day following said legal holiday or non-business day or non-banking day. 19.7 No Recording. This Agreement or any notice or memorandum hereof may not be recorded in the public records of any county in the State of Florida. 19.8 No lqroker.q. Seller and Buyer each represent to the other that it has not dealt with any commissioned broker, salesperson or agent in connection with the execution and delivery of this Agreement, and the other party shall not be required to pay any commission whatsoever with respect to this Agreement resulting from the actions of the party making such representations. Seller and Buyer in accordance with the limitations of the Florida Statutes and law, each indemnify and hold each other harmless from and against any and all losses, costs, damages, liabilities and expenses (including without limitation, reasonable attorneys' and paralegal fees) resulting from a breach by the indemnifying party of the foregoing representation. 19.9 Acceptance of Deed. The acceptance of the Deed by Buyer shall be deemed full performance and discharge of every agreement and obligation on the part of Seller to be performed pursuant to this Agreement, except those which are specifically stated to survive delivery of the Deeds and closing. 19.10 ~. Should any term or provision of this Agreement be subject to judicial interpretation, it is agreed by Seller and Buyer that the court interpreting or construing the same shall not apply a presumption that the term or provision shall be more strictly construed against the party who itself or through its agents and attorneys of each party have participated in the preparation of the terms and provisions of this Agreement and that all terms and provisions have been negotiated. 19.11 Captions; Headings; Etc. Captions, headings, section and subsection numbers in this Agreement are for convenience and reference only, and shall have no effect upon the meaning of any of the terms or provision herein. 19.12 Waiver. Failure of either party to insist upon compliance with any term or provision hereof shall not constitute a waiver thereof, and no waiver of any term or provision of this Agreement shall be effective unless it is in writing and signed by the party against whom it is asserted. Any waiver of any term or provision of this Agreement shall only be applicable to the specific term or provision and instance to which it is related, and shall not be deemed to be a continuing or furore waiver as to such term or provision or as to any other term or provision. 19.13 No Third Party, lqeneficiaw. The terms and provisions of this Agreement are for the exclusive benefit of Seller and Buyer, and not for the benefit of any third party, and this Agreement shall not be deemed to have conferred any rights, express or implied, upon any third party. 19.14 RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health unit. 10 IN WITNESS WHEREOF, indicated below. WITNESSES (Pfin~-N~aml) (Print Name) the parties have executed this Agreement as of the date BUYER: THE URBAN GROUP, INC. as agent for BBCRA Date Executed:_ WITNESSES: (Print Name) Date Executed: WITNESSES: BUYER: APPROVED BY CRA BOARD (Print Name) (Print Name) By: Chair Date Executed: \xJGCD£_FS\LIBRARYM 998\980465X~AGM'D?urchaseAndSaleRealProp.doc 11 EXHIBIT "A" DESCRIPTION Palm Beach Country Club Estates, Lot 8, Block 4, according to the plat thereof, as recorded in the Official Record Book 11, at page 43 and O.R Book 11267, at page 1265 of the Public Records of Palm Beach County, Florida, Situate, lying and being in Palm Beach County, Florida. 12