APPLICATION
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PROJECT NAME COILTRONICS, INC.
LOCATION: North of Gateway Blvd. and West of Quantum Blvd.
COMPUTER ID. Coiltronics\NWSP ~b 01 t4 IMJ 11 hA {,1'l 13 I vJ
PERMIT # 98-5178
I FILE NO NWSP 98-026 II TYPE OF APPLICATION. New Site Plan I
AGENT/CONTACT PERSON OWNER/APPLICANT
Sam Pinson Quantum Limited Partners, Ltd.
Rhon Ernest-Jones PHONE 561-740-2447
PHONE (954) 344-9855 FAX. 561-659-7766
FAX. (561) 341-5961 ADDRESS 292 South County Rd, Suite 141
ADDRESS 4800 N Fed. Hwy, Ste #200E Palm Beach, FL 33480
Boca Raton, FL 33431
Date of submittallProjected meetine dates.
SUBMITTAL / RESUBMITT AL 12/22/98
1ST REVIEW COMMENTS DUE 1/13/98
PUBLIC NOTICE
TRC MEETING 2/2/98
PROJECTED RESUBMITTAL DATE 2/2/98
ACTUAL RESUBMITTAL DATE
2ND REVIEW COMMENTS DUE
LAND DEVELOPMENT SIGNS POSTED
(SITE PLANS)
PLANNING & DEVELOPMENT BOARD 2/23/98
MEETING
CITY COMMISSION MEETING 3/2/98
COMMENTS
S:\FORMS\PROJECT TRACKING INFO
'TV OF BOYNTON BEACH, FLORID--
PLANNING & ZONING DIVISION
SITE PLAN REVIEW APPLICATION
FOR
NEW SITE PLANS & MAJOR MODIFICATIONS TO EXISTING SITE
Application Acceptance Date /.2.4.:rf/p
Fee paid.#rSt>.Otl Receipt Number' //057
This application must be filled out completely, accurately and submitted as an original to the Planning and Zoning
Department. TWELVE COMPLETE, sequentially numbered, ASSEMBLED AND STAPLED sets of plans
including a recent survey and appropriate fee shall be submitted with the application for the initial process of the
Site Plan Review procedure. AN INCOMPLETE SUBMITTAL WILL NOT BE PROCESSED
Please print legibly (in ink) or type all information
GENERAL INFORMATION
1
Project Name
t~/L ~AI/t',5', live. /iT ()tt/I/l/7U/YJ A~/U
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2 Applicant's name (person or business entity in whose name this application is made)
C/JIL7IUJ/V/{'5' wr.
,
(;tJtlCJ hlZ/t, {)~ tCM;VJ~ My
f]i1C// jZA7l?~ .FL- /
.j-6/- 2'1/- 7& 76 Fax 5'6/- 21//-
Phone
JJ4ff1
(Zip Code)
93J '7
Address.
3
Agent's Name (person, if any, representing applicant)
t.4 M[ 4 S' ".4l'fJt-/{ 4/1/7 I.
Address
(Zip Code)
Phone
Fax'
4 Property Owner's (or Trustee's) Name IUIIlAJTUM UJV/J~ PAUlJE:12S \ LTb
Address 2.gZ SDCJ1}I UJlDJTtf RlJ~ \ SUITE 14/
PALM 'KEJU!ll \ FLlJfllhA 334 8D
(Zip Code)
Phone 5'6,1'" 74{)- 24+7 Fax, 5GtI- &,~!- 77~~
5 Correspondence to be mailed to agent only, if no agent, then to applicant unless a substitute
is specified below'*
f.ML Il.O/JILS, TAJl!... , foODD PR2.K.. Or: t!..DIIIM~1lL!.E.. EDUlEVllllh,
80l!A r.ATtJN \ F'U5fi11A 33.., 81
*Thls is the one address to which all agendas, letters and other materials Will be mailed
6 What IS applicant's interest in the premises affected? (owner, buyer, lessee builder developer,
contract purchaser, etc )
(!O/ll71t!/lC T Ptu&('IIII.f17O
7
Nc,C 771 OF (.!/ITT I../A' I fJL i//J, , wE.5' r tF
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Street address or location of site
OtulN7ltNl-_. g~ 1/ d.
8 Property Control #- ()13 - I/J - Y!1 - /7- ()7-00IJ - O/!>O
Legal description of site LOT /5" /lttcM/NI!- 7lJ 77fC "tZ// T PI" 6ltt//N71t/V7
..o/l.<!...e /IT /J/JYfl/ltN' 11~?C/l ,/J,r,/J_ /L~'TNo, 2..,4,)' /Ul'L7/lIJE7J /11/
~~H ~~' :;~;;:A./U.4 - /fJ./ AalL/t: kat/M,f OF /'.4~,vJ
9 Intended use(s) of site ()F.F/u / w,4q/-I~UJ'L
.
10
Developer or Builder-
7~tJ
11 Architect: krT2.f(!/I, L/lI/AD, [""feCl2/) /JI2{'II//EC7,5' (A!.L(')
12 Landscape Architect: .k//tJN' ~-z:.;';~ST -~/t/*S CON,J/l LVII/&- ENe /N~ll jJ. /A/t.. ' (,<,2;zTCE
13 Site Planner- 12 L C '
14 Engineer' /(,';:-.7 C F
15 Surveyor- /vlCek.. A!.1J.cf AN'/) A,fJo(/A ITS,- lAiC.
16 Traffic Engineer-
17 Has a site plan been previously approved by the City Commission for this property?
A!(J
18 Estimated construction costs of proposed improvements shown on this site plan
,f / ~ I'1/L L/OA/
II SITE DATA
The following information must be filled out below and must appear where applicable on all copies of the site
plan
1
2
3
4
f
g
h
Land Use CateQorv shown in the Comprehensive Plan
ZoninQ District A /.11,
Area of Site 2.~ acres
Land Use -- AcreaQe Breakdown
/A//Jltfa/At
/1/ , 7'11)
,
sq ft.
a
Residential, including 0 acres 0 % of site
surrounding lot area
of grounds
Recreation Areas * 0 acres 0 % of site
(excluding water area)
Water Area €J acres a % of site
Commercial (J acres 0 % of site
Industrial 2 56 acres () % of site
Pubhc/lnstitutional 0 acres () % of site
Public, Private and D 0
Canal nghts-of-way acres % of site
Other (specify) l) acres 0 % of site
b
c
d
e
Planning and Zoning Department Rev 3/18/97
I'C f l' M^ I N\S ~ In DA T A \ Pl.A NN1NGISHAREDlWP\FORMSIAPPS\NWSP\S ITEPLAN WPO
Other (specify)
o
acres
t)
% of site
o
j Total area of site 2. 5"h acres 10 tJ % of site
., including open space suitable for outdoor recreation and having a minimum dimension of 50 ft,
by 50 ft.
5 Surface Cover
a Ground floor building ~. ,,8 acres 2. 2. 7 % of site
area ("building footprint")
b
Water area
o acres
o
% of site
c. Other impervious areas, including paved area of public & private streets, paved area of parking
lots & driveways (excluding landscaped areas), and sidewalks, patios, decks and athletic courts
/ 'i~ acres .;(,. ~ % of site
d Total impervious area ?....!..J.... acres 7' J % of site
e Landscaped area 1Jr2...6~ acres IIJ.~% of site
inside of parking lots (20 sq ft. per interior parking space required - see Sec 7 5-35(g) of
Landscape Code)
f Other landscaped areas, 0 Z> acres r ~ % of site
g Other pervious areas, including golf course, natural areas, yards, and swales, but excluding
water areas 0 acres 0 % of site
h Total pervious areas 073 acres zo. 7 % of site
Total area of site 2 66> acres /0 () % of site
6 Floor Area
h
a
Residential 0 sq ft.
eam FfH:: rci9110ffice 20.!z z. sq ft.
IndustriallWarehouse /5""z'lo sq ft.
Recreational 0 sq ft.
Public/lnstitutional 0 sq ft.
Other (specIfy) 0
sq ft.
Other (specify) ()
sq ft
Total floor area 35: Si 2 sq ft,
b
c
d
e
f
g
Planning and Zoning Department - Rev 3/18/97
lIe ~p M.A IN'S HP DA T ^ IPLANNI NGISH.AREOIWPIFORMSIAPPSINWSPISITEPLAN WPD
7 Number of Residential Dw~ling Units
a Single-family detached sq ft.
---
b Duplex ft.
c, Multi-Family (3 + attached elling units)
(1 ) Efficiency dwelling units
(2) 1 Bedroom dwelling units
(3) 2 Bedroom dwelling units
(4) 3+ Bedroom dwelling units
d dwelling units
e al number of dwelling units
Gros tfAits per acre
8
9
Maximum heiqht of structures on sIte
38
feet
v-
stories
10
Required off-street parkinq
a Calculation of required
number of off-street
parking spaces
b
Off-street parking spaces
provided on site plan
/25' l7'IfJtPldJ ~ () 7F
1'1 s,op
/.7/ S/'i/
Planning and Zoning Department - Rev 3/18/97
\ICH\MAIN\SHRDA T ^ \ PLANN INGIS HAREOIWPIFORMSIAPPSINWSPIS ITEPLAN WPD
1/1 CERTIFICATION
(/) (We) understand that this application and all papers and plans submitted herewith become a
part of the permanent records of the Planning and Zoning Department (I) 0Ne) hereby certify that
the above statements and any statements or showings in any papers or plans submitted herewith
are true to the best of (my) (our) knowledge and belief This application will not be accepted unless
signed according to the instructions below
Signature of Owner(s) or Trustee, of
Authorized Principal if property is owned by
a corporation or other business entity
Date
IV AUTHORIZATION OF AGENT
Signature of Authorized Agent
Date
(I) (We) hereby designate the above signed person as (my) (our) authorized agent in regard to this
application
Signature of Owner(s) or Trustee,
or Authorized Principal if property is owned
by a corporation or other business entity
Date
SPACE BELOW THIS LINE FOR OFFICE USE ONLY
Review Schedule
Date Received
Technical Review Committee
Planning & Development Board
Community Appearance Board
City Commission
Date
Date
Date
Date
Stipulations of Final Approval
Other Government Agencies/Persons to be contacted
Additional Remarks
Planning and Zoning Department - Rev 3/18/97
\\CH\MAI N\$H RDA T A \PLANN I NG\SHARE D\Wr\FORM S\^PPS'NWSP\S ITEPLJ\N WPO
III CERTIFICATION
(I) ryJe) understand that this application and all papers and plans submitted herewith become a
part of the permanent records of the Planning and Zoning Department (I) 0Ne) hereby certify that
the above statements and any statements or showings in any papers or plans submitted herewith
are true to the best of (my) (our) knowledge and belief This application will not be accepted unless
sign d according to the instructions below
igna ure of Owner(s) or Trustee, of
Authorize Principal if property is owned by
a corporation or other business entity
~k ZL{~~I
Date
IV
AUTHORIZATION OF AGENT
-&4-d~
Signature of Authorized Agent
hf.B;M~ 2.'ll!l\ 19~9
Date
~ti~iebY designate the above signed person as (my) (our) authorized agent in regard to this
\;~-t ~~LL/qS'
,
Date
ignature of Owner(s) or Trustee,
or Authori ed Principal if property is owned
by a corporation or other business entity
I
SPACE BELOW THIS LINE FOR OFFICE USE ONLY
Review Schedule
Date Received
Technical Review Committee
Planning & Development Board
Community Appearance Board
City Commission
Date
Date
Date
Date
Stipulations of Final Approval
Other Government Agencies/Persons to be contacted
Additional Remarks
Planning and Zoning Department - Rev 3/18/97
\\CH\MAI N\SHRDA T A \PLANN I NG\SHARED\WP\FORMSIAPPSINWSP\SITEPLAN WPD
qlDER TO SITE PLAN APPLlCA TIO~ ~
The undersigned as applicant for Final Site Plan Approval does hereby acknowledge, represent and agree that
all plans specifications drawings, engineering and other data submitted with this application for review by the
City of Boynton Beach shall be reviewed by the various boards commissions staff personnel and other parties
designated appointed or employed by the City of Boynton Beach, and any such party reviewing the same shall
rely upon the accuracy thereof, and any change in any item submitted shall be deemed material and substantial
The undersigned hereby agrees that all plans, specifications, drawings, engineering and other data which
may be approved by the City of Boynton Beach or its boards commissions, staff or designees shall be
constructed in strict compliance with the form in which they are approved, and any change to the same shall be
deemed material and shall place the applicant in violation of this application and all approvals and permits which
may be granted
The applicant agrees to allow the City of Boynton Beach all rights and remedies as provided for by the
applicable codes and ordinances of the City of Boynton Beach to bring any violation into compliance and the
applicant shall indemnify, reimburse and save the City of Boynton Beach harmless from any cost, expense claim
liability or any action which may arise due to their enforcement of the same
Witness
REED TO this 22.<!!Ldayof ll-dL
~
Applicant
,199.6
Witness
Planning and Zoning Department - Rev 3/18/97
IICHIMAI NISHRDA T A IPLANNINGISHAREOIWPIFORMSIAPPSINWSPIS ITEPLAN WPD
LEGAL DESCRIPTION
A PARCEL OF LAND SITUATE IN SECTION 17, TOWNSHIP 45 SOUTH, RANGE 43 EAST PALM
BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS
LOT 15 ACCORDING TO THE PLAT OF QUANTUM PARK AT BOYNTON BEACH PI D PLAT
NO.2, AS RECORDED IN PLAT BOOK 57, PAGES 184 THROUGH 185, PUBLIC RECORDS OF
PALM BEACH COUNTY, FLORIDA.
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AGREEMENT FOR PURCHASE AND SALE
OF REAL PROPERTY
TIllS AGREEMENT is made and entered Into as of the .2:l day of k, 1998, by and
between QUANTUM LIMITED PARTNERS, LTD., a Flonda linuted partnerslup (hereinafter
referred to as "SELLER") and COILTRONICS, INC., a wholly owned mdirect subsIdiary of
Cooper lndustnes, Inc" and/or Its aSSIgns or nommees as allowed In ArtIcle 27 0 herein (hereInafter
referred to as "BUYER")
WITNESSETH
In conSIderatIon of the mutual agreements and upon and subject to the terms and condItions
herein contaIned, the partIes hereto agree as follows
1 0 DEFINITIONS The follOWIng defined terms when used In thIs Agreement for Purchase and
Sale (the "Agreement") shall have the respectIve meamngs hereInafter set forth.
1 1 Property That certaIn parcel of vacant land situate In Section 17, Township 45 South,
Range 43 East, Palm Beach County, Flonda, beIng more partIcularly described as follows
Lots 15 and 16, accordIng to the Plat of Quantum Park at Boynton Beach PJ.D Plat
No 2, as recorded In Plat Book 57, Pages 184 through 185, Public Records of Palm
Beach County, Flonda.
The Property shall be speCIfied In a boundary survey wluch shall be updated and certified and made
a part hereof, together with all adjacent streets, roads, alleys, nghts of way, exclusive and non-
exclusive rights, uses, Ingress, egress, easements, development nghts, appurtenances and other grants.
In addItIon, with the purchase of the Property, SELLER shall assIgn and transfer to BUYER all
nght, title, Interest to all concurrency tnps, eqUivalent connectIons for sewer and water, zonIng
nghts, building nghts, development nghts, vested nghts, plats, sIte plans, archItectural draWIngs,
studies, site plans, plans, approvals, and any other development nghts whIch are appurtenant to, have
been granted In connectIon WIth, are contaIned WIthIn, or are for the benefit of the Property
1 2 ClOSIng, The dehvery of the SpeCIal Warranty Deed to BUYER concurrently WIth
the dehvery of the purchase pnce to SELLER
1 3 ClOSIng Date. The date upon whIch the clOSIng occurs.
14 Deed, A SpeCial Warranty Deed which conveys the Property from SELLER to
BUYER subject only to the Permitted Exceptions (hereIn defined)
1 5 Earnest Money The sum of money dehvered from BUYER to escrow agent pursuant
to SectIon 2 1 hereIn.
1 6 Intended Improvements, The BUYER Intends to construct on the Property one or two
buildIngs compnsIng approximately 60,000 to 120,000 square feet of office, warehouse, light
Page 1 of 21
manufactunng and distribution space. In additIOn, such parkIng, paVIng, earthwork, water, sewer and
storm drainage improvements, landscapIng, IrrIgatIOn, site electnc, electncal, plumbIng, telephone,
other utilIties, roadways, entrance ways (adjacent to the Property) and such other Improvements and
facilities necessary to facIlitate the construction of the one or two warehouse/office buildmgs.
BUYER represents Its shall not construct an "extended stay" type of hotel
1 7 SELLER'S Address. Quantum Lmuted Partners, Ltd., a Flonda limited partnership,
c/o Douglas MacDonald, 292 S Count) Road, SUite 141, Palm Beach., Flonda 33480 1Lffi Forun Wly,
9.ri.te 101, l.est Palm Eead1, Florida 3340l
1 8 BUYER'S Address Attn. Mr Robert B Beers, Coiltromcs, Inc, 6000 Park of
Commerce Boulevard, Boca Raton, Florida 33487
1 9 Effective Date The date of full execution by the last of all parties to thIs Agreement.
2 0 PURCHASE AND SALE Subject to the terms and conditions herem, the SELLER hereby
agrees to sell to BUYER, and BUYER hereby agrees to purchase from SELLER, the Property for
the purchase pnce of EIGHT HUNDRED TWENTY-THREE THOUSAND TWO HUNDRED
EIGHTY-FOUR AND 00/100 ($823,284 00) DOLLARS
2 1 Earnest Money Concurrently With the execution of this agreement by BUYER and
SELLER, BUYER shall deposit and cause to be placed 10 an mterest beanng Escrow Account
("Escrow Account") establIshed by Cohen, NOrrIS, Scherer, Wemberger & Hams ("Escrow Agent"),
monies 10 the amount of TWENTY-FIVE THOUSAND AND 00/100 ($25,000 00) DOLLARS
Any and all mterest accrumg upon depOSits paid pursuant to thiS Agreement shall be credited to the
account ofthe BUYER at closmg, Upon expiration of the InvestigatIOn Penod, 10 the event BUYER
has not termInated thiS Agreement, BUYER shall depOSit With Escrow Agent an additional depOSit
of FIFTY THOUSAND AND 00/100 ($50,000.00) DOLLARS, which shall be deposited 10 the
Escrow Account and shall for all purposes herem, be deemed Earnest Money and treated the same
as the Earnest Money previously deposited for all purposes as set forth WithIn thiS Agreement. In the
event of a default by BUYER entitlIng SELLER to the Earnest Money, SELLER shall be entitled
to any interest earned on the Earnest Money In the event the Earnest Money IS apportIOned and paid
10 part to BUYER, and 10 part to SELLER, the mterest shall be apportioned and paid 10 the same
manner Upon the expiration of the InvestigatIOn Penod, the Earnest Money shall become
nonrefundable except in the event of a default by SELLER, and/or the falSity or failure of any
representation or warranty pursuant to Article 4 0 and ItS subparts, any faIlure of a condition
precedent herem, and/or an event allOWIng termmatlon by BUYER pursuant to Articles 6 0, 7 0 or
13 0 and their subparts,
22 Balance of Purchase Pnce BUYER shall pay the balance of the purchase pnce of
SEVEN HUNDRED FORTY-EIGHT THOUSAND TWO HUNDRED EIGHTY-FOUR AND
00/100 ($748,284.00) DOLLARS (subject to adjustments and proratIOns proVided for herem) to
SELLER at closmg 10 cashIer's check drawn, attorney's trust account check, drawn on a federally
msured bank or by wire transfer to a depOSitory deSignated by SELLER subject to adjustments
prOVided elsewhere 10 thiS Agreement.
Page 2 of 21
3 0 INVESTIGATION PERIOD
3 1 BUYER shall have seventy-five (75) calendar days from the execution of tlus
Agreement in full by both partIes (here1Oafter referred to as the "InvestigatIOn Penod") to determ10e
that the Property IS acceptable to BUYER, 10 BUYER'S sole discretion. SELLER agrees, wIthin
seven (7) days of the date offull execution of thIS Agreement, SELLER shall proVIde to BUYER
any and all of the follow1Og wluch SELLER has 10 ItS possession or whIch are reasonably obta1Oable
by SELLER from its consultants or thIrd parties surveys, pnor title 10surance polICies, copIes of
plats, site plans, master plans, Declarations of Protective Covenants, Conditions and RestrictIOns,
copies of zornng approvals, copies of resolutions, ord1Oances affect10g the Property, copies of any
and all encumbrances or exceptIOns to title encumbenng the Property or affectmg the Property, any
and all contracts, agreements, concurrency reports, Impact fee studies, development 1Oformatlon,
development plans, roadway information, environmental audits and assessments, approvals and
dernals, utilIties Information, documents and/or agreements, site plan approvals, permits, market
and/or feasibilIty studies, traffic studies and reports, roadway Improvement plans, or any and all other
information related 10 any way whatsoever to the Property which SELLER has 10 ItS possession or
which SELLER reasonably may obta1O relative to the Property Dunng the Investigation Period,
BUYER may determine, among other th1Ogs, that
3 1 1 UtilIty sefVIces includ10g water, wastewater, electnc, telephone and all other
utilities are avaIlable 10 the proper size and capacity to serve the Property and the Intended
Improvements 10cluding a determ1Oatlon of sewer and water hook-up fees and Impact fees,
If any, to be assessed by city and/or county agencies,
3 1 2 SoIl conditions after proper test10g are satisfactory to the BUYER 10cluding
a find10g by the BUYER or ItS profeSSional consultants that there eXIsts no contam1Oatlon,
hazardous conditIOn, hazardous waste, or other adverse condition of the soils Dunng the
Investigation Penod, BUYER may conduct soil bonngs, percolatIOn tests, and s10ular
investigation to deternune the presence of any concentratIOns, levels, or conditions of any
asbestos, soil or ground water contam1OatlOn, radIOactiVity, methane, radon, volatile
hydrocarbons, underground storage tanks, or any other substances or conditIOns WhICh may
be deemed hazardous or tOXIC as same may be defined by any federal, state or local
government hereby hav10g JunsdlctlOn over the Property
3 1 3 That the Property IS properly zoned and platted and all development approvals,
utilIties, dra1Oage, water and sewer hookups, fire hydrant facilIties, concurrency and any and
all other items necessary to construct the Intended Improvements, 10 addItIOn to all paVIng,
entrance ways, 1Ogress, egress, curb cuts, are proper and adequate for construction of the
Intended Improvements.
3 1 4 That there eXIsts no moratonum relative to bUlld1Og, nor any Impediment to
BUYER'S Intended Improvements on the Property or any appurtenance thereto, 10cludmg
but not linuted to sewer service, water service, eqUIvalent connectIOns, Impact fees, curb cuts,
traffic signalIzatIOn, 1Ogress, egress, and adequate park1Og,
Page 3 of 21
3 1 5 That there eXIsts no code vIolatIons or other vIolatIons of any sort or kmd of
any local, county, state or federal governmental entIty;
3 1 6 That there are no taxes, assessments, liens, or other sums due any local, county,
state or federal governmental entIty or quasI-governmental entIty;
3 1 7 That the Covenants and Pemutted ExceptIons are acceptable to BUYER m
BUYER'S sole dIscretIOn,
3 1 8 That the costs, whIch shall be reqUired for BUYER'S Intended Improvements
are acceptable, m BUYER'S sole discretIOn,
3 1 9 That the development plans for any adjacent property do not contradict, impede
or deter BUYER'S Intended Improvements,
3 1 10 That the Intended Improvements and the development of the Property are and
shall be m complIance with the Declaration of ProtectIve Covenants for Quantum Park
Property Owners AssocIatIon, and meet all zOnIng, code reqUirements of the City of Boynton
Beach, Palm Beach County, South Flonda Water Management Dlstnct, and any other
govermng authontIes, and that there are no ImpedIments to obtaImng final sIte plan approval
and obtaInIng a buildIng permIt for the Intended Improvements,
3 1 11 That the Property IS properly zoned for constructIon of an office, warehouse,
light manufacturing and distributIon facilIty; and
3 1 12 Any and all other due dilIgence, InVestIgation, InSpections, whIch BUYER
deems appropnate In BUYER'S sole dIscretIOn,
3 2 In the event that any InspectIons and any revIew of any land, sort or descnptlOn
conducted by the BUYER dunng the InvestigatIOn Penod prove unsatIsfactory, IncludIng the status
of the SELLER'S legal tItle as hereInafter set forth, the BUYER, at ItS sole discretion, shall be
entItled to ternunate thIs Agreement proVided that wntten notice of termInatIOn IS delIvered to the
SELLER or SELLER'S attorney, In wntmg by faCSimIle transfer, couner, overnIght express mail
or first class certIfied mall, return receipt requested on or before 5 00 P M, three (3) calendar days
follOWIng the expIratIOn of the InvestIgation Penod If the BUYER timely termmates thIs
Agreement, as reqUired herem, ESCROW AGENT shall Immediately deliver the TWENTY-FIVE
THOUSAND AND 00/100 ($25,000.00) DOLLARS m Earnest Money and all accrued Interest, to
BUYER and all partIes shall be released from any and all further lIabilIty to each other under the
terms hereof except for lIabilIty from the IndemnIty set forth In Article 3 4 In the event the BUYER
does not termmate thiS Agreement herem, all Earnest Money deposited WIth Escrow Agent shall
become nonrefundable, except In the event of a default by SELLER and/or the falSity or failure of
any representatIon or warranty pursuant to Article 4 0 and ItS subparts, and/or an event allowmg
terminatIon by BUYER pursuant to ArtIcles 6 0, 7 0 or 13 0 and their subparts
3 3 The SELLER hereby agrees that It shall cooperate WIth the BUYER In all
investigations or other studies or testmg which the BUYER may deSire to perform dunng the
Page 4 of 21
Investigation Penod SELLER further agrees to allow BUYER to submit any applications,
subnussions, agreements and other documents necessary for BUYER to pursue Its Intended
Improvements, all of which shall reqUire the pnor reasonable approval of SELLER, and SELLER
shall JOIn In any applIcatIOns for site plan approval, other applications, submissions or other
agreements and documents wluch may be necessary for BUYER to pursue ItS Intended
Improvements on the Property when and where reqUired by any goverrnng authonty In the event
BUYER terminates this Agreement as allowed hereIn, all such subnusslOns and applIcations, If any,
shall be aSSIgned by BUYER to SELLER, or at SELLER'S dIreCtiOn, BUYER shall rescInd and
termInate some or all of such applicatIons and submISSIons, If any Property Information will be made
available to BUYER pursuant to Article 3 0 and ItS subparts hereIn. SELLER will not withhold, and
shall proVIde any information In SELLER'S posseSSIon or reasonably obtainable by SELLER, to
BUYER concermng the Property
3 4 SELLER hereby grants permISSion to the BUYER or ItS agents to enter upon the
Property during the InvestigatIOn Penod and pnor to clOSIng for the purpose of conductIng
engIneenng studies, structural and phYSical InspectIOns IncludIng, but not lImited to, soil tests,
surveys, and site planmng work and for any other purpose reqUired by BUYER In pursuance oftlus
Agreement. BUYER hereby agrees to Indemmfy and hold the SELLER harmless from and agaInst
any and all claims, oblIgatIOns, or charges of any kInd that may be Incurred by SELLER as a result
of BUYER'S Inspections of the Property pnor to clOSIng, Any reqUired permits wIll be obtaIned by
BUYER at ItS sole cost and expense
40 REPRESENTATION AND WARRANTIES To Induce BUYER to enter into tlus
Agreement, SELLER makes the follOWIng representations and warranties, all of which, In all matenal
respects and except as otherwise proVIded In thIS Agreement, (i) are now true, (ii) shall be true as of
the clOSIng; (ili) the truth and accuracy of which shall be a condition precedent to the clOSIng oftlus
transaction, and (iv) which shall survive clOSIng:
4 1 SELLER shall as of the date of clOSIng have good, Indefeasible and marketable title
to the Property, free and clear of all lIens, encumbrances, covenants, conditIons, restnctlOns,
nghts-of-way, easements and other matters affectIng title, except the Declaration of Covenants for
Quantum Park (the "Covenants"), and any Permitted ExceptIOns, Any and all mortgages of record
shall be satisfied by the SELLER at clOSIng,
4 2 SELLER represents to the BUYER that the Property IS zoned In the City of Boynton
Beach, Flonda, and may be used for development of the Intended Improvements All portions of the
Property are contiguous and there are no gaps, gores, encroachments which may separate any
portIOns of the Property
43 To the best of SELLER'S knowledge, all laws, ordInances, rules, regulatIOns and
orders (includIng, without limitation, those relatIng to zonIng, buIldIng, fire, health, safety,
enVIronmental control and protectIOn) of any government or agency, body or subdiVIsion thereof, and
all standards and regulations of appropnate superviSIng boards of fire underwnters and snnilar
agencies, beanng on construction, operation or use of the Property or any part thereof In effect on
the date hereof, have been complied with by SELLER, that SELLER has receIved no notIce or has
no knowledge of any such government, agency, body or subdivIsion thereof, or any employee or
Page 5 of 21
official thereof, that would consIder that constructIOn upon the Property or the operation or the use
of the same for BUYER'S Intended Improvements wIth all related Improvements, roadways, curb
cuts and utilitIes will constItute a VIolation of any law, ordinance, rule, regulatIOn, order or standard,
or that any inVestIgatIon has been commenced or contemplated respecting any such possible vIOlatIOn.
4 4 SELLER IS not aware, and has not receIved notIce of any pendmg or contemplated
condemnatIOn proceedmgs affectmg the Property or any part thereof
4 5 SELLER has no knowledge, nor has SELLER received any notice of any lItigation,
claIm, actIOn or proceedmg, actual or threatened, against SELLER or the Property by any
organization, person, indIvIdual or governmental agency whIch would adversely affect (as to any
threatened lItIgatIon, claIm, actIon or proceedmg, In a matenally adverse fasluon) the use, occupancy
or value of the Property or any part thereof or whIch would otherwIse relate to the Property
4 6 SELLER has full power and authonty to enter mto tlus Agreement and to assume and
perform all of Its obligatIons hereunder The executIon and delIvery of this Agreement and the
consummation of the transactIon contemplated hereunder on the part of the SELLER does not and
will not COnflIct WIth or result m the breach of any condItIon or proVISIon, or constItute a default
under, or result m the creatIOn or ImpOSItIon of any hen, charge, or encumbrance upon any of the
Property or assets of the SELLER by reason of the terms of any contract, mortgage, lIen, lease,
agreement, mdenture, Instrument or Judgment to wluch the SELLER is a party or whIch IS or
purports to be bmdmg upon the SELLER or whIch affects the SELLER, whIch will not be
dIscharged or released at clOSing; no action by any federal, state or mUnIcipal or other governmental
department, commISSIon, board, bureau or instrumentalIty IS necessary to make thiS Agreement a valid
mstrument bmding upon the SELLER m accordance With ItS terms
47 To the best of SELLER'S knowledge, SELLER represents that the Property or any
contIguous or adjacent propertIes have not been, are not presently or are not contemplated to be
utihzed as a reservOIr of tOXIC chemIcals, and/or nuclear waste matenal SELLER represents and
warrants to the best of ItS knowledge that (a) no substance mcludmg WIthout lImitatIOn, asbestos
or any substance contammg more than 0 1 percent asbestos, the group of compounds known as
polycWonnated bIphenyls, flammable, explOSIves, radIOactIve matenals, chemIcals known to cause
cancer or reproductive tOXICity, pollutants, effluents, contammants, emissions or related matenals or
substances (collectIvely "Hazardous Matenals") (any mIxture of a Hazardous Matenal, regardless of
concentratIon WIth other matenals shall be conSIdered a Hazardous Matenal) under any law relatmg
to environmental condItIOns and mdustrial hygiene, mcludmg WIthout lImItatIOn, the Resource
ConservatIOn and Recovery Act of 1976 ("RCRA"), 42 I Section 6901 et seq , the ComprehensIve
EnVIronmental Response, the CompensatIon and LIability Act of 1980 ("CERCLA"), 42 U S C
SectIOn 9601 et seq , as amended by the Superfund Amendments and ReauthonzatIOn Act of 1986
("SARA"), the Hazardous Matenals TransportatIOn Act. 49 US C SectIOn 1801, et seq , the Clean
Air Act, 42 US C Section 7401 et seq , the TOXIC Substances Control Act, 15 US C SectIons
2601-2629, the Safe Dnnkmg Water Act. 42 US SectIOn 300f et seq , and all Similar federal, state
and local envIronmental statutes, ordmances and the regulatIOns, orders decrees now or hereafter
promulgated thereunder (collectively, the "Hazardous Matenal Laws"), have been Installed, used,
generated, manufactured, treated, handled, refined, produced, processed, stored or disposed of, or
otherwIse present m, on or under the Property, and that to the best of SELLER's knowledge no
Page 6 of 21
actIvity has been undertaken on the Property which would cause (i) the Property to become a
hazardous waste treatment, storage or disposal facility wlthm the meanmg of, or otherwise being the
Property wlthm the ambit of RCRA or any Hazardous Matenal Law, (ii) a release or threatened
release of Hazardous Matenal from the Property w1thm the meamng of, or otherwise bnng the
Property W1t1un the ambit of CERCLA or SARA or any Hazardous Matenal Law, or (iii) the
discharge of Hazardous Matenal mto any watercourse, body of surface or subsurface water or
wetland, or the discharge mto the atmosphere of any Hazardous Matenal whIch would require a
permIt under any Hazardous Matenal Law; (b) no actIVIty has been undertaken with respect to the
Property which would cause a VIOlation or support claim under RCRA, CERCLA, SARA or any
Hazardous Matenal Law, (c) no underground storage tanks or underground Hazardous Matenal
DepOSits are or were located on the Property and subsequently removed or filled, (d) no
investigation, adnumstratlve order, litigation or settlement With respect to any Hazardous Matenals
is threatened or 10 eXistence With respect to the Property; and ( e) no notice has been served on
SELLER from any entity, governmental body, or mdlvldual c1almmg any VIolation of any Hazardous
Matenal Law, or requmng compliance With any Hazardous Matenal Law, or demand 109 payment or
contribution for environmental damage or mJury to natural resources,
48 To the best of SELLER'S knowledge, no portion of the Property mcludes any
archaeological Sites, artifacts or other conditions of archaeologIcal or hlstoncal slgmficance which
could adversely effect development. There are no mdigenous plant speCies, endangered plant speCies,
endangered ammals or reptiles of any sort or any other condition which would prohibit, Impede or
deter the construction of BUYER'S Intended Improvements on the Property, 10 addition to
construction of proper entrance ways, roadways, dram age, utilities and other facilities to service t
Intended Improvements WhICh shall be a part of the Property, excepting gopher turtle . J)
49 To the best of SELLER'S knowledge, the Property does not contam any
DepOSits, nor are there any subsurface or surface conditions which are detnmental to BUYER's
mtended construction or which could mhiblt, prohibit, Impede or deter the buildmg of BUYER'S
Intended Improvements Within the Property
4 10 To the best of SELLER'S knowledge, all streets, roadways, dramage mstallatIons,
paVIng mstallatIons, curb cuts, underground sewage collection and disposal systems, underground
utility lInes, pumpmg statIOns and SimIlar work, meet all engmeenng deSign standards and cntena set
by the City of Boynton Beach and Palm Beach County, Flonda and all have been properly permItted.
To the best of SELLER'S knowledge, there are no requirements for mstallatlon of turmng lanes,
traffic SignalIzatIon, or other roadway Improvements necessary which shall be mcurred by BUYER
to the roadways or mfrastructure facihtles at Quantum Park relative to the development of the
Intended Improvements
the City has not and WIll not Withhold any public Improvements, I
mamtenance of streets, proVISion of sewage and w
not limited to,
4 12
nt utility easements are depicted on the plat and there are no other
Page 7 of 21
4 13 All impact fees and other fees reqUired to develop the Property wluch are to be
assigned by SELLER to BUYER have been paid in full to all governing authontles.
4 14 To the best of SELLER'S knowledge, all utilities, mcludmg francluse utilities, power
and light, telephone and telegraph, water, sewer and gas, have been constructed and installed beneath
the surface of the ground to the property line of the Property and that no above ground transformers,
telephone tenmnals, substations or 11ft stations are required to servIce the Property All potable water
supplies servIng the Property have been connected to the City of Boynton Beach, Flonda's water
system.
4 15 To the best of SELLER'S knowledge, the arrangement, extent, width, grade and
location of all adjacent streets conform to the master plan and have been constructed and surfaced
in accordance With all applIcable standard specIfications of the Covenants and the City of Boynton
Beach, Florida.
4 16 To the best of SELLER'S knowledge, there are presently no requirements for letters
of credit or cash bonds bemg posted with the City of Boynton Beach, Palm Beach County or any
other governing authority to construct or develop on the Property
4 17 To the best of SELLER' S knowledge, there are no moratonums against development
whIch affect the Property 10 any way
4 18 To the best of SELLER' S knowledge, there are no contemplated, pending or existing
or department of transportation or City of Boynton Beach or Palm Beach County road and/or right
of way maps, plans adversely affecting the Property
4 19 SELLER has no knowledge, InformatIOn or notice of fact that may have or render
an unfavorable effect, dimInution in value or excessive cost with respect to the Property
4.20 SELLER IS not a party to any unrecorded agreements, restnctions, easements, leases,
option agreements, rights oftirst refusal or contracts With respect to the Property, nor shall SELLER
enter mto any of the foregomg from and after the date of execution of tlus Agreement Without the
written consent of BUYER subject to BUYER timely complymg With the terms and conditions
herem. SELLER shall be entitled to enter mto back up agreements for purchase of the Property,
proViding any such agreements are subject to and subordinate to the nght of BUYER herem, and are
extinguished and released upon BUYER'S purchase of the Property herem,
421 To the best of SELLER'S knowledge, all concurrency requirements have been met
for the Property
4 22 SELLER'S representations and warranties shall survive the closmg of this transaction
for a penod of two (2) years, It IS further understood and agreed to by the parties to this Agreement
that should the representatIOns and warranties made by SELLER to the BUYER for the purposes
of mducing the BUYER to purchase the Property prove to be matenally false and Illlsleadmg, the
BUYER may tenmnate tlus Agreement and receive all Earnest Money and interest accrued thereon
Iitetum and the BUYER shall have all legal remedies available to It agamst SELLER In addition,
LLER agrees to mdemrufy and hold harmless BUYER from and agamst any and all cost, expense
Page 8 of 21
or actual damages incurred by BUYER due to any maccurate, false, or mlsleadmg representation or
warranty made herem,
5 0 EVIDENCE OF TITLE
5 1 Condition of Title SELLER represents and warrants that at closmg It shall own
good, marketable and insurable fee Simple title to the Property SELLER shall not, at any time after
the Effective Date, place or permit any title exceptions to affect the Property unless the pnor wntten
approval of BUYER has been obtamed, SELLER agrees to give copies of any pnor title insurance
commitments or pohcles It possesses, together With hard copies of all documents referenced therem,
and any pnor surveys to BUYER wlthm seven (7) days of the Effective Date hereof
52 BUYER may obtam, at BUYER'S expense, an updated current survey ("Survey")
of the Property showmg the legal descnptIon, the exact location of any encroachments, above ground
Improvements, easements, area ofnghts-of-way, water retention areas, nutlgatlon areas (if any) and
all other matters pertammg to the Property which are normally shown on detailed topographical
surveys, and otherwIse prepared 10 accordance With the mmlmum standard reqUIrements adopted by
the American Land Title ASSOCiatIOn, which survey shall be prepared by a registered surveyor 10 the
State ofFlonda and certified to any parties deSignated by BUYER and to the party and company
prepanng the title msurance commitment,
5 3 In the event that the survey shows any matenal encroachments, easements, stnps,
gores, or any portion of the Property non-contiguous to any other portion of the Property or any
other matter matenally affectmg marketabihty of title to the Property (any such matter IS herem called
a "Survey Defect" and treated as a title defect herem), BUYER shall have until the expiratIon of the
Investigation Penod wlthm whIch to approve or disapprove any such Survey Defect and to gIve
written notice to SELLER of any disapproval thereof mdlcatmg 10 reasonable detail the nature and
reasons for BUYER'S objection, In the event BUYER proVides a wntten notice of disapproval of
a Survey Defect to SELLER, the nghts and obhgations of the parties respectmg such Survey Defects
shall be treated as a title defect and shall be governed by Section 5 5 hereof such that the parties shall
have the same nghts and objections as though any such Survey Defect so objected to was a new
exceptIon to title whIch was dIscovered and objected to w1thm the contemplatIon of SectIon 5 5
5 4 SELLER shall proVIde Within twenty (20) days from the Effective Date, at
SELLER'S expense, a title commitment ("Title Commitment") Issued by Commonwealth Land Title
Insurance Company or other title underwnter reasonably acceptable to BUYER, together With
transnuttal oflegible hard copies of all scheduled B-1 ReqUIrements and B-2 Exceptions thereto The
Title Comnutment shall set forth the state of title to the Property, together With all exceptions or
conditions to such title, mcludmg, but not hmited to, all easements, restnctIons, nghts-of-way,
covenants, reservations, and all other encumbrances affectmg the Property which would appear 10 an
owner's title pohcy, Ifissued The Title COl11Ill1tment shall contam the express commitment of the title
company to Issue a title msurance pohcy on currently approved AL T A Owner's Marketabihty Pohcy
Forms (the "Title Pohcy"), msunng BUYER'S mterest 10 the Property
5 5 BUYER shall notify SELLER and title agent of any exceptions contamed W1thm the
Title Commitment whIch commits to msure the title to the Property to be other than good,
Page 9 of 21
marketable, and Insurable or whIch Impede BUYER'S development of the Property WIth the Intended
Improvements, pnor to the eXpIratIOn of the InvestIgatIOn Penod. Encroachments and other matters
depIcted on the survey that effect Its InsurabilIty, both as to Its phYSIcal conditIons and tItle, and
marketabilIty shall be consIdered tItle defects, Any such exceptIons contaIned In the Title
Comnutment not tunely objected to shall be hereafter referred to as the PermItted ExceptIOns and
BUYER shall be deemed to have waIved the nght to object to such title exceptIons. BUYER shall
have no nght to cause any new exceptions to tItle, except WIth the express wntten consent of
SELLER. SELLER shall have thIrty (30) days after the receipt of such notIce to cure any such
objectIOnable tItle exceptIons If SELLER does not cure the title defect(s) WIthIn such tlurty (30)
day penod, BUYER will have the optIOn, to be exercIsed WIthIn twenty (20) days follOWIng the
expiratIOn of such penod, to, (i) gIve SELLER addItIOnal tIme to cure the tItle defect(s), (ii) waive
BUYER'S ObjectIons and/or requirements, or (iii) temunate tills Agreement WIthout further lIability
to eIther party, In wluch case all Earnest Money and all Interest accrued thereon shall be returned to
BUYER In the event that the partIes proceed In connectIOn WIth the cunng by SELLER of any title
defects, then In such case the clOSIng date hereIn shall be extended for a time penod mutually agreed
upon by BUYER and SELLER
5 6 The tItle policy shall be Issued In the amount of the Purchase Pnce and shall Insure fee
SImple tItle to the Property, In BUYER, as well as the marketabilIty of such tItle All of the standard
prepnnted tItle exceptIons shall be deleted from the tItle pohcy by the tItle agent upon Its receipt of
f '
affidaVIts and a certIfied survey satIsfactory In form and substance to the title agent. SELLER shall
execute all necessary and appropnate documents and affidaVIts at clOSIng as reqUired by the tItle agent
and BUYER to delete the standard exceptIOns for hens and partIes In posseSSIon and to prOVIde "gap"
coverage, and all Insurance prenuums for the owner's title polIcy In the amount of the purchase price,
as well as any and all other costs assocIated WIth the procurement and dehvery of the Title
Comnutment and polIcy, shall be paId by the SELLER The title Insurance procedure proVIded for
In tills Article 5 0 and Its subparts shall be structured so that a tItle endorsement shall be issued on
the date of clOSIng deletIng all Schedule B-1 reqUIrements w1tilln the Title COmmItment, deleting all
Schedule B-2 general exceptIons from the Title Comnutment and subject only to the PermItted
ExceptIOns, and exceptIons created by BUYER, If any Upon request, SELLER shall also proVIde
the BUYER at BUYER's sole cost and expense, a simultaneous mortgagee tItle COmmItment and
polIcy, the cost ofwluch shall be $350 00 plus endorsements at the rate of$35 00 or promulgated
rate for each endorsement.
6 0 CONDmONS PRECEDENT TO CLOSING BUYER'S oblIgatIon to close and purchase
the Property IS subject to the fulfillment (by satISfactIOn or BUYER'S wntten waIver) In BUYER'S
reasonable dIscretion of the all the follOWIng express conditIOns precedent
6 1
completed,
All Infrastructure, utility, draInage and retentIon Improvements shall have been
6 2 The clOSIng of the purchase of the Property shall be contIngent upon the county and/or
CIty of Boynton Beach confimung that the Property and the Intended Improvements contemplated
thereon, comply WIth or exceed all concurrency reqUIrements,
Page 10 of 21
not be delayed or denied in any manner by reason of concurrency reqUlreme e loc
government comprehensive planrung and land development regulatIOn Act") set forth in
Chapter 163, et.seq, Flonda Statutes or any comprehensl or other similar ordmances
("Comprehensive Plan") promulgated by local gove authontles m accordance wIth the Act.
All Comprehensive Plans related dlrec n irectly to the level of services reqUlred by the
Comprehensive Plan and/or t or the Property and as may be more fully defined or modified
by the regulations t , re currently (and will at final completIon) be m full comphance With the
Act and omprehenslVe Plan so that the app priate mlttmg for full use, occupancy,
c ear and unencumbered except for the
6 4 Title shall be vested m SELLER and
Permitted Exceptions.
6 5 All representations and warranties shall be true and correct as of the date of closmg.
6 6 In the event that any of the above contmgencles and conditIOns precedent have not
been or cannot be satisfied pnor to closmg, then the BUYER, at ItS option, may, With respect to the
Property declare the Agreement to be null and vOId and have the Earnest Money and mterest accrued
thereon returned to BUYER and all parties shall be reheved of any further obhgatlOn under thIS
Agreement; except m the event of the failure to satisfy the contmgencles and conditIons precedent
set forth m SectIOns 6 4 and/or 6 5, m which event BUYER shall have the nght to either termmate ~
the Agreement, receive all Earnest Money and mterest accrued there~ and BUYER shall be entitled
to recover from SELLER all actual damages mcurred by BUYE~r BUYER shall be entItled to 1
extend any time hmltatlOns and the closmg speCified herem until the completion of or fulfillment of
the contmgencles or conditions precedent set forth m SectIOn 6 4 and 6 5, but m no event shall any
time extension exceed one hundred twenty (120) days from the closmg date, In the event one
hundred twenty (120) days after the closing date expires without satisfaction of the conditions
precedent and contingenCies set forth m Articles 64 and/or 6 5, the Agreement shall be deemed
terminated and BUYER shall be entitled t~ecelve all Earnest Money and mterest accrued thereon
and all actual damages mcurred by BUYEIftrom SELLER. NotwIthstanding any term or condItIon
herem, m the event a title defect or new exception should be placed of record or appear ("New
Defect"), other than the PermItted Exceptions pnor to Closmg, SELLER shall have a penod oftlme,
not to exceed thirty (30) days from the date oflearnmg of any such New Defect to cure or ehmmate
same. Absent the cure or ehmmatlOn of any New Defect wlthm the thirty (30) day time penod,
BUYER shall be entItled to all nghts and remedies as set forth m thiS paragraph. -rot to excea:l m,
7 1 SELLER's Obhgatlons at Closmg, At Closmg, SELLER shall do the followmg:
7 0 CLOSING OBLIGATIONS
7 1 1 Execute, acknowledge and dehver to BUYER a speCial warranty deed,
conveying the Property to BUYER subject only to the Permitted ExceptIons,
7 1.2 Execute, acknowledge and dehver to BUYER an assignment of all of
SELLER's nghts, title and mterest m road Impact fees aSSigned to Property as heremafter described,
Page 11 of 21
7 1.3 Execute and dehver to BUYER a no hen affidavit satisfactory to the BUYER
so as to cause removal of the mechanIc's hen, pnor to ItS posseSSion, unrecorded easements, and
standard exceptIons from the title pohcy;
7 1 4 Execute and dehver to BUYER a certificate ("FRPT A"), suffiCient to entitle
BUYER to pay the purchase pnce to SELLER without w1thholdmg of any federal or state non-
reSident WIthholdmg taxes pursuant to Section 1445 of the Internal Revenue ServIce Code,
7 1 5 Dehver to BUYER absolute and exclUSive possession and occupancy of the
Property;
7 1 6 Execute and dehver all additional documents and Instruments reasonably
necessary, or as reqUIred herem for the proper consummation of thiS transaction,
72
follOWIng:
BUYER'S OBLIGATIONS AT CLOSING At ClOSing, BUYER shall do the
72 1 BUYER shall dehver to the closmg agent's account a cashier's check,
attorney's trust account check or Immediately Wired federal funds In an amount equal to the amount
of the balance of the Purchase Pnce (after due credit for all funds held by Escrow Agent, plus or
minus proratIons and Closmg Costs as set forth herem), and shall execute and dehver all additional
documents and Instruments reasonably necessary for the proper consummation of thiS transaction.
8 0 CLOSING The closmg of title for the Property under tlus Agreement shall occur at the office
of SELLER'S attorney to be located m Palm Beach County, Flonda, The closmg shall occur wlthm
thIrty (30) days after expiratIOn of the InvestigatIOn Penod BUYER may, at BUYER'S option,
accelerate the closmg date by provldmg at least seven (7) days wntten notice to SELLER
NotWithstanding the foregomg, m the event that the conditIons precedent set forth In Sections 6 0
and/or 7 0 have not been fulfilled as of clOSing, With the exception of the mstance of a New Defect,
whIch shall be treated pursuant to Article 6 6 herem, BUYER may, at ItS option, eIther terminate the
Agreement and BUYER shall be entitled to receive the Earnest Money and all Interest a~e
thereon and BUYER shall be entitled to recover all actual damages Incurred by BUYE~o
SELLER, or the closmg may be extended at BUYER'S option until such time as the conditions
precedent set forth In Sections 6 0 and/or 7 0 have been satisfied, but In no event shall any time
extension exceed one hundred twenty (120) days from the closmg date, In the event one hundred
twenty (120) days after the clOSing date expires Without satisfaction of the conditions precedent and
contingencIes set forth In Articles 6 0 and/or 7 0, the Agreement shall be deemed terminated and
BUYER shall be entitled to rea1ve the Earnest Money and all mterest accrued there I actual
damages Incurred by BUYER!'from SELLER Jlrot to excea:l $75,an.m,
9 0 CLOSING PROCEDURE The attorney, title agent or closmg agent IS . g BUYER'S
owners Title CommItment and pohcy and/or mortgagee title msurance commitment and pohcy shall
msure agamst adverse matters pursuant to Section 627 784 I, F S (1983) as amended SELLER
shall proVIde "gap" affidaVIts m form and substance satisfactory to title agent
Page 12 of 21
100 DELIVERY OF TITLE AND POSSESSION Conveyance of title to the Property shall be
by Special Warranty Deed subject only to the PermItted ExceptIons. SELLER shall also delIver with
the SpeclalWarranty Deed a Non-Foreign Affidavit under Section 1445 of The Internal Revenue
SefV1ce Code, a sworn no-lien and gap affidaVit statmg that to the best of SELLER'S knowledge and
belief the title to the Property is free and clear of all mecharucs' hens filed or unfiled created by
SELLER and that except for those matters set forth 10 tlus Agreement, no person, firm, corporation
or association lawfully clamllng by or through SELLER, other than the SELLER, has possession
of the Property or any nght to possessIOn thereof PosseSSIon of the Property shall be surrendered
to BUYER at closmg. At closmg, SELLER shall delIver to BUYER the SpeCial Warranty Deed,
Non-Foreign Affidavit; no hen and gap possessIOn affidaVit, ASSignment of all Contracts, Permits,
Authonzations, and Warranties, ASSignment of all development nghts, pemuts, approvals, plats, and
such other mstruments and documents as either party may reasonably reqUIre eVldencmg the authonty
of SELLER and BUYER to consummate the transactIOn contemplated herem, The terms of these
documents shall survive closing,
Upon delIvery of all of the foregomg, the parties shall approve and sign the respectlve closmg
statements and shall record or authonze to be recorded the SpeCIal Warranty Deed and any other
documents to be recorded for consummatIOn of thIS transactIOn 10 the manner herem contracted for
11 0 PRORATION OF TAXES. ASSOCIATION ASSESSMENTS. COM1'vfUNITY
DEVELOPMENT DISTRICT MAINTENANCE AND OTHER ASSESSMENTS Ad Valorem
Real Property Taxes for the year of the Closing, Quantum Park Property Owner's AssociatIOn
Assessments and the Quantum Park Commuruty Development Dlstnct mamtenance and other
assessments and all other assessments relative to the Property shall be prorated to the date of Closing
(usmg the maxImum discounted amount as to the real estate taxes), BUYER acknowledgmg that
some or all of the Quantum Park Commumty Development Dlstnct assessments are prepaid and as
such will be reimbursed or prorated accordmgly For example, the 1997 tax bill mcluded bond
pnncipal payments for March 1, 1999 and mterest payments for September 1, 1998 and March 1,
1999, wluch amounts will be reImbursed by BUYER If the Closmg shall occur before the tax rate
IS fixed for the then current year, the apportIOnment of taxes shall be based upon the precedmg year's
tax amount. Funds due at clos1Og shall be mcreased or decreased by any such proratIOns Subsequent
to the Closmg, when the tax rate IS fixed for the year 10 which the Clos1Og occurs, SELLER and
BUYER agree to adjust the proration of taxes and, If necessary, to refund or pay, as the case may
be, on or before January 1 of the year followmg the Closmg, an amount necessary to effect such
adjustments. ThiS provIsion shall survive Closmg,
120 ROAD IMPACT FEE CREDIT AND RESERVE REIMBURSEMENT BUYER
acknowledges that all road Impact fee credits reqUIred relative to the development of the Property
must be purchased from SELLER 10 addition to the Purchase Pnce herem, the exact amount of
wluch must be agreeable to BUYER and SELLER and shall 10 no event exceed the pnce assessed
and charged by Palm Beach County, Flonda for road Impact fee credits, fuyer ani Seller
ill t:l-e cnnnt within t:re D.E Di.1.igEn:e ~a:l o~, eitlEr p3rty ITBy tenrrirnte
13 0 COMPLIANCE WITH LAWS. ETC. AND PAYMENT OF ASSESSMENTS
shall comply With and abide by all permits, approvals, laws, ord1Oances, covenants, develop ent
orders, and property owner's aSSOCiation documents, whIch regulate activIties 10 the State ofFlonda,
Palm Beach County, the City of Boynton Beach, Quantum Park and the Quantum Park Commumty
Page 13 of 21
Development District, and the Property BUYER specIfically agrees to pay when due all taxes and
assessments, mcluding Quantum Park Property Owner's AssocIatIon and Quantum Park Commuruty
Development DIstnct assessments relatmg to the Property The covenants of thIS paragraph 13 0
shall survIve the Closmg hereof
140 CARE DURING CONSTRUCTION Dunng the course of constructIOn of BUYER's
proposed facility, BUYER shall protect pavements, curbs, gutters, walks, streets, shoulders, utility
structures, water management system and other property contiguous in the vICIruty of, or leading to
each Lot, from damage, and shall keep pedestnan and road nghts-of-way and dnves, and other
property, includmg waterways, reasonably clean and clear of eqUipment, cars, trucks, building
materials, dIrt, debris and similar matenals SELLER, Quantum Park Commuruty Development
DIStriCt or Quantum Park Property Owner's ASSOCIatIon may charge BUYER any amount reasonably
necessary to repaIr, clean and clear saId pavements, curbs, gutters, walks, streets, shoulders, utility
structures, water management system, or adjacent property, or saId pedestnan and road nghts-of-way
and drives, includmg waterways and other property, If BUYER fails to do so wIthm thIrty (30) days
after BUYER's receIpt ofwntten notIce thereof from SELLER BUYER shall take all reasonable
precautIons m order to mm1mIze mterference wIth traffic and to protect the general pubhc, and the
other owners and theIr employees, mVItees and patrons ofthe Quantum Park m partIcular, from mJury
from the movement of vehIcular traffic m connectIOn WIth construction of BUYER's proposed
facility The covenants of thIS paragraph 14 0 shall survIve Closmg.
150 PROPERTY OWNER'S ASSOCIATION AND DESIGN REVIEW COMMITTEE. The
Property is contamed WIthin Quantum Park, whIch park IS mamtamed by Quantum Park Property
Owner's ASSOCIatIon, Inc. BUYER will become a member of the Property Owner's ASSOCIatIOn by
virtue ofpurchasmg property w1thm the park, and shall be responsible for assessments leVIed thereby
In additIon, the development of property Wltlun Quantum Park IS subject to reVIew by the Quantum
DeSIgn ReVIew COmmIttee
160 SPECIAL ASSESSMENT LIENS Other than Quantum Park Commuruty Development
DIstnct assessments, whIch are mcluded speCIfically under ArtIcle 11 0 herem, certIfied, confirmed
or ratified special assessment hens as of the date of closmg are to be paId by the SELLER Pending
hens as of the date of closmg shall be assumed by the BUYER, proVIded, however, that where the
Improvement has been substantIally completed as of the date of closmg, such pendmg hens shall be
conSIdered as certIfied, confirmed or ratIfied and the SELLER shall, at closmg, be charged an amount
equal to the last estImate by the pubhc body makmg the assessment for the Improvement.
17 0 RISK OF LOSS
17 1 Except WIth regard to BUYER'S entry upon the Property as permItted herem,
SELLER shall bear the nsk of all loss or damage to the Property from all causes, until the closmg
hereunder Ifpnor to the closmg the Property IS damaged as a result of flood or other casualty wluch
has not been fully repaIred and restored m the same condItIOn as eXIsted ImmedIately pnor to such
damage, BUYER shall have the optIon to cancel thIS Agreement, m WhICh event the Earnest Money
and all mterest accrued thereon held by Escrow Agent shall be returned to BUYER whereupon
neither party shall have further liability or obligatIon to the other hereunder The BUYER shall have
the nght to close tlus transactIon under thIS Agreement WIth a dImmutIon m the purchase pnce, If the
Page 14 of
21
BUYER so elects. In the event the BUYER cancels thIS Agreement, the BUYER shall not be
released from ItS indemruficatiOn obligatIons referred to In Paragraph 3 4 of thIS Agreement.
172 Condemnation, In the event all of the Property shall be taken or threatened prior to
Closmg In any eminent domaln, condemnatIon, compulsory acqUISitiOns, or SImilar proceedmg by any
authOrIty for any public or quasI-public use or purpose, then thiS Agreement shall automatIcally
terminate and SELLER shall have the sole nght to any award or damages ansmg WIth respect to any
such proceedmg. In such event, SELLER shall reimburse BUYER for all damages, and out-of-
pocket expenses Incurred by BUYER m admmIstenng thIS Agreement. In the event any part (but not
all) of the Property or an easement of nght-of-way shall be taken or threatened to be taken pnor to
the date of Closing, in any errunent domam condemnatIon, compulsory acqUISItions, or SImilar
proceedmg by any competent authonty for any public or quasI-public use or purpose, then, at
BUYER'S electIon, BUYER may terrrunate tlus Agreement and neIther party shall have any further
rights or obligations hereunder and Earnest Money and all mterest accrued thereon shall be returned
to BUYER by Escrow Agent, or BUYER may close tlus Agreement upon the terms and condItIons
herem. SELLER shall have the sole nght to retam any damage awards WIth respect to any such
eminent domam, condemnatIon, or other taking of the Property unless BUYER elects to close, in
wluch event such damages awards shall be assigned to and payable to BUYER
18 0 EXPENSES AND PRORATIONS
18 1 Expenses. SELLER, at the closmg, shall bear and pay (a) all documentary stamps m
connection WIth the executiOn, delivery and/or recordation of the SpeCial Warranty Deed and any
curatIve tItle documents reqUIred to be executed, delivered and/or recorded m connectiOn WIth thIS
transactIon, (b) all costs of recordmg or filing the mstruments delivered pursuant to the terms hereof;
and ( c) the expense ofissumg an AL T A owners title msurance comrrutment and owner's policy of tItle
insurance subsequent to closmg. The BUYER and SELLER shall each be responsible for ItS own
legal expenses Incurred attendant to the closmg, The proVISIons of thIS Paragraph shall survIve the
clOSIng WIthout IIrrutatIon as to duratIon, The BUYER shall pay the cost of recording the SpeCIal
Warranty Deed, the cost of the survey, and any mortgagee tItle msurance policy wluch shall be Issued
by SELLER'S attorney or SELLER'S tItle agency
190 DEFAULT
19 1 If BUYER shall fail to timely close or otherwIse defaults m any of the terms,
covenants and proVISIons of this Agreement on the part of BUYER to be performed, then Escrow
Agent shall deliver to SELLER the Earnest Money prevIously delivered to It, together WIth Interest
thereon, as full and agreed upon liqUIdated damages m full settlement of any and all claims agamst
BUYER for damages or otherwIse, Followmg the payment to SELLER of such Earnest Money, tlus
Agreement shall be null, VOId and of no further force and effect and neither party shall have any
further lIabilIty or obligatiOn to the other hereunder, except that SELLER shall not be limIted to
lIqUIdated damages With respect to the damages set forth In Article 3 4 The parties acknowledge that
thIS proVISIon for lIqUIdated damages IS a fair and reasonable measure of the damages to be suffered
by SELLER m the event of BUYER'S default because the exact amount of damages are mcapable
of ascertamment,
Page 15 of 21
19.2 If: (i) SELLER IS unable to dehver good and marketable title to the Property, subject
only to the PermItted Exceptions as provided by this Agreement; or (ii) SELLER shall have failed
to comply with any matenal term or provIsion of thIs Agreement; or (ili) any representation of
warranty of SELLER set forth 10 thIs Agreement be untrue or mcorrect 10 matenal respect, BUYER
shall be entitled to termInate this Agreement, receive ItS Earnest Money and all mterest accrued
thereon in return, and SELLER shall be responsible for any damages mcurred by BUYER due to any
default of SELLER herein, or BUYER shall be entitled to the nght to specific performance of the
Agreement and all terms and conditions contamed herem agamst SELLER and to any actual damages
mcurred by BUYER due to SELLER'S default herem, Where BUYER IS entitled to damages or
actual damages herein, due to SELLER'S default, the damages to which BUYER shall be entitled
shall be limited to not exceed SEVENTY-FIVE AND 00/100 ($75,000.00) DOLLARS and any
attorney fees and costs, if awarded.
Without limltmg BUYER'S nghts contamed 10 this Paragraph, 10 case of a lIen or
encumbrance affectmg the Property (other than a Permitted Exception deliberately placed or caused
to be placed upon the Property subsequent to the date of title eVidence) which can be removed at time
of closmg by payment of a liqUIdated amount, SELLER covenants and agrees to remove such lien
or encumbrance at closmg so that the Property can be conveyed to BUYER free of same.
20 0 NOTICES Except as otherwise proVided herem, notices may only be delIvered by hand or
by certified mail, return receipt requested, via overnight express mail, or via facsimile transfer
(proVIded followed by overnight express mail) to the addressee at the address set forth herem, and
shall be deemed to have been dehvered on the date of receipt of such notice, if hand-delIvered, or,
If mailed on the date the receipt for whIch the certified mall IS signed by the addressee or ItS
authonzed agent or employee or, Ifby overmght express mail, then on the date of receipt, and Ifby
facsimile transfer, then on the date of receipt. Either party may change the address for notice to that
party by dehvenng wntten notIce of such change 10 the manner proVided above, such change to be
effective not sooner than ten (10) days after the date of notice of change
AS TO SELLER
Quantum Limited Partners, Ltd ,
A Flonda Limited Partnership
c/o Douglas MacDonald
292 S COUAty Road, SUite 111 1401 Forun vay, 11101
'alm Bt:a\,;lt, FlullJa 33480 vest PaJm Eeach, FL. 33401
Telephone No 561/ -
Facsimile No 561/659 7766 6ffi-8863
With Copy to
DavId B Noms, Esq
Cohen Noms Scherer Wemberger and Hams
712 U S Highway One, Fourth Floor
North Palm Beach, Flonda 33408
Telephone No 561/844-3600
Facsimile No 561/842-4104
Page 16 of 21
AS TO BUYER.
COIltromcs, Inc
Attn, Mr Robert B Beers
6000 Park of Commerce Blvd.
Boca Raton, Flonda 33487
Telephone No 561/241-7876
FacsImile No 561/241-9339
With Copy to
Scott A Elk, Esq
Elk, Banlaer, Palmer & Chnstu
SUite 200-E
4800 North Federal Highway
Boca Raton, Flonda 33431
Telephone No 561/368-8800
Facsimile No 561/394-3699
21 0 BROKERAGE. BUYER and SELLER represent and warrant to each other that Commercial
Florida Realty Partners and CB Commercial Real Estate Group, Inc c/o Jeffrey M, Kelly (C.B
Commercial Real Estate Group, InC shall be due a real estate brokerage commission of three (3 0%)
percent of the gross Purchase Pnce hereIn at cloSIng) are the only real estate brokers Involved In thiS
transaction. The brokerage commission shall be paid by SELLER at cloSIng, SELLER hereby
indemrufies and holds BUYER harmless from and agaInst any costs, fees, damages, claims and
habihtles, including, but not hnuted to, reasonable attorneys' fees and court costs anSIng out of any
claim or demand or threats of claim made by any other broker or salesperson claimIng by, through
or under SELLER BUYER hereby Indemmfies and holds SELLER harmless from and agaInst any
costs, fees, damages, claims and liabilities, Including, but not hnuted to, reasonable attorneys' fees and
court costs arisIng out of any claim or demand or threat of claim made by and other broker or
salesperson clcunung by, through or under BUYER
220 ATTORNEY'S FEES In connection WIth any lItigation, IncludIng appellate proceedings,
ansIng out oftlus Agreement, the prevaihng party shall be entitled to recover reasonable attorney's
fees and costs from the other party
23 0 RECORDING AND TIME Neither tlus Agreement nor any notice thereof shall be recorded
In any pubhc records Such recordIng shall compnse a default under thiS contract
24 0 OTHER AGREEMENTS No pnor or present verbal agreements or verbal representations
shall be bIndIng upon any of the parties hereto unless Incorporated In thiS Agreement No
modification or change In thiS Agreement shall be vahd or bIndmg upon the parties unless m WrItIng,
executed by SELLER and BUYER
25 0 DOCUMENTS SELLER shall prepare the SpeCial Warranty Deed, No-Lien AffidaVit and
any corrective Instruments that may be required In connection With perfectIng title to the Property
260 COOPERATION The BUYER and SELLER agree to pursue JOIntly, severally and
IndlVldually and With all due dilIgence, all apphcatlOns, approvals, authonzatIons and consents
necessary to effect tlus transaction,
Page 17 of 21
27 0 ASSIGNMENT At or pnor to closmg, BUYER shall be entitled to freely assign tlus
Agreement to any entity which IS related by common stock ownership or as a subsidiary or mdlrect
subsidiary OfCOlltromcs, Inc or Cooper Industnes, m which event, upon any such wntten assignment
BUYER hereIn shall be released from any and all liability herem. Any assignment, other than as
allowed herem, shall require the consent of SELLER, which shall not be unreasonably withheld,
28 0 APPLICABLE LAW This Agreement shall be construed in accordance with and governed
by the laws of the State ofFlonda and venue shall be In Palm Beach County, Flonda.
29 0 ESCROW AGENT The Escrow Agent shall hold the Earnest Money and all mterest accrued
thereon in accordance with the terms and proVisions of this Agreement subject to the following:
29 1 The Escrow Agent shall not be deemed to have knowledge of any matter or thing
unless and until the Escrow Agent has actually received wntten notice of such matter or tlung and
the Escrow Agent shall not be charged With any constructive notice whatsoever
29 2 In the event that Escrow Agent places the Earnest Money or any other sums or thIngs
held by him in the registry of the Palm Beach County CircUit Court, where the parties agree venue
shall be vested m such event, and files an action of mterpleader nammg BUYER and SELLER,
Escrow Agent shall be released and relieved from any and all further obligations and liability
hereunder or in connection herewith and the BUYER and SELLER hereby agree, Jomtly and
severally, to indemmfy and hold Escrow Agent harmless from any damages or losses ansmg
hereunder or In connection herewith, mcluding, but not limited to, all costs and expenses mcurred by
Escrow Agent In connection With the filmg of such action, mcludmg, but not limited to, reasonable
attorneys' fees and costs for Escrow Agent's attorney(s) through and mcludmg all appeals,
29 3 It IS agreed that the duties of Escrow Agent are only such as are herem speCifically
proVIded and are purely numstenal in nature. Hence, Escrow Agent shall not be held liable for any
matter or tlung except for Escrow Agent's willful misconduct or gross neghgence. BUYER and
SELLER hereby Jomtly and severally agree to Indemmfy Escrow Agent and hold Escrow Agent
harmless from any claim asserted against him and from any damages, costs, expenses, habilIty and/or
losses sustained by Escrow Agent (except for Escrow Agent's willful misconduct or gross negligence)
IncludIng, but not hmlted to, reasonable attorneys' fees and costs for Escrow Agent's attorney(s)
through and Including all appeals and whether or not litigatIOn IS mstltuted.
29 4 If the Earnest Money or any other sums delivered to Escrow Agent are In the form
of a check or In any form other than cash, Escrow Agent shall DepOSit same as required but shall not
be liable for the non-payment thereof. If such check or other mstrument other than cash representmg
the Earnest Money IS returned to Escrow Agent, unpaId, Escrow Agent shall transmit same to
BUYER and Escrow Agent shall be released from any and all further obligations hereunder
29 5 In the event that Escrow Agent shall be uncertam as to lus duties or nghts hereunder
or shall receive Instructions, claims or demands from any of the parties hereto or from tlurd persons
With respect to the Earnest Money or any other sums ofthmgs whIch may be held hereunder, which,
In ItS sole OpIniOn, are m conflict With any provIsion oftlus Agreement, he shall be entitled to refram
Page 18 of 21
from takmg any action until he shall be directed otherwIse 10 wntmg by all the partIes hereto and saId
trurd persons, If any, or by final order or Judgment of a Court of competent Junsdictlon.
29 6 Escrow Agent shall not be bound by any modificatIon, cancellatIOn, or rescIssIon of
this Agreement unless in wntmg and sIgned by the BUYER and SELLER In no event, however,
shall any modIficatIOn ofthts Agreement, whIch shall affect the nghts or dutIes of Escrow Agent, be
binding on Escrow Agent unless he shall have gIven hIS pnor wntten consent.
29 7 Escrow Agent shall be entitled to represent the SELLER, or the Escrow Agent
relatIve to thts transactIon, and all partIes waive any nght to object to any such representation due
to conflicts of mterest or other concerns.
30 0 DISCLOSURE. BUYER and SELLER agree that neither will disclose any terms of this
Agreement to any third party WIthout the pnor wntten consent of the other party 10 each such
instance. Notwithstanding the foregomg, BUYER may, WIthout consent of SELLER, disclose saId
terms to BUYER's respective partners, pnnclpals, parent corporatIOns, lenders, attorneys,
consultants, contractors, subcontractors, subsldlanes, realtors and accountants
31 0 RADON GAS Radon IS a naturally occumng radioactive gas that, when It has accumulated
10 a building in suffiCient quantities, may present health nsks to persons who are exposed to It over
time. Levels of radon that exceed federal and state gUldelmes have been found 10 buildmgs 10 Florida,
AddItional mformatlon regardmg radon and radon testmg may be obtamed from your county public
health unit.
32,0 SEVERABILITY In case anyone or more of the provIsions contamed 10 thIS Agreement
shall for any reason be held to be mvahd, illegal or unenforceable 10 any respect, such mvahdlty,
illegahty or unenforceabihty shall not affect any other provIsion hereof, and thIS Agreement shall be
construed as If such mvahd, illegal or unenforceable proVISion had never been contamed herem.
33 0 TIME IS OF THE ESSENCE The parties acknowledge that time IS of the essence for each
time and date speCifically set forth 10 this Agreement.
34 0 WAIVER. The waiver of one or more defaults by any party to this Agreement shall not be
deemed a waiver of any subsequent default of that provISion of the Agreement, or ofa default under
any other proVISion of thIs Agreement.
350 TIME FRAMES Any time frames contamed herem which fall on a Saturday, Sunday or
banlang hohday, or legal hohday shall be deemed extended to the next busmess day thereafter
360 This Agreement shall not become effective until It has been executed by all of the parties
hereto, and the Effective Date shall be the date for purposes hereof as of the date and year of the last
party to fully sign this Agreement.
370 Without mtendmg to WaIve any proVISIon heremabove prohibltmg the assignment or transfer
of the nghts contamed herem, this Agreement shall be bmdmg upon and mure to the benefit of,
Page 19 of 21
respectively, the parties their successors, legal representatives, grantees and assigns, as apphcable and
appropnate, of all parties of tills Agreement.
38 0 This Agreement shall not be construed more strongly against any party regardless of who was
more responsible for ItS preparation.
390 All nghts, powers and remedies proVIded herein may be exercised only to the extent that the
exercise thereof does not VIolate any applicable laws and are intended to be IiInlted to the extent
necessary so that they shall not render tills Agreement invahd, illegal, or unenforceable, the validity
of the other terms of this Agreement shall in no way be affected thereby
40 0 This Agreement may be executed m any number of counterparts, each of which, when so
executed and delivered, shall be an ongmal, but each counterpart shall together constitute one and
the same mstrument bmdmg upon all parties hereto
41 0 Tills Agreement contams the entire understanding of the parties and supersedes all prevIous
verbal and wntten agreements, there are no other agreements, representative or warranties not set
forth herem, ;till ~M[,r -r:J3>'(
42,0 The offer contained herein shall be extended until theb1ay of j~2- 1998, upon
willch date, m the event the Agreement has not been signed b~partles h~ deemed null
and VOId.
IN WITNESS WHEREOF, each of the underSigned have executed thiS Agreement as of the day
and year first above wntten,
Signed, sealed and delivered
in the presence of:
BUYER
~~~~
PrinlcdName, ~"t!. Jt2,AJ~e,.:)
\Yf~~
COIL TRONICS, INC., a wholly owned
mdlrect Subsidiary of Coope Industnes, Inc,
~
BY
Name
Title
DATED
Page 20 of 21
sac\coil\fnlpurch,agr
8/18198
SELLER.
QUAN UM LIMITED PARTNERS,LTD.,
a FIond h,ted partnershIp
BY '\ Ip
DOUG AS MACDONALD, President
DATED: ~'h7 /()d I
ESCROW AGENT
Page 21 of 21
PRE-APPLICATION TRACKING LOG
PRE-APPLICATION MEETING
Contact Date 12/1/98
Meetin Date: 12/7/98 Time 9.30 AM
PURPOSE OF APPLICATION Build 1 or 2 buildings comprising of 60,000-
120,000 s ft. of office, warehouse, Ii ht manufacturin & distribution s ace.
PROJECT NAME PERMIT NO 98-5178
Attending Staff. Mike Rumpf, Bob Donovan, Ken Hall & Ed Yates
Attending for Applicant: David Goldfarb/ Elk, Bankier, Palmer, Christu
Sam PinsonlRhon Ernest-Jones (954) 344-9855
Phone. 561 368-8800 Fax. S 6 (, Jq - j {/I
Name of Owner' Quantum Limited Partners, L TD
Address
Phone. 561 686-6959 - Quantum Park Owners Assoc. Fax
Name of Applicant/Contact: David Goldfarb
Address 4800 N Federal Hwy Suite #200 E
Boca Raton, FL 33431
Project Address 3601 & 3701 Quantum Blvd. Lots 15 & 16
PCN 08-43-45-17-07-000-0160 & 0150
Fax.
NWSP
Date Submittal Received.
Received.
I Date Denied.
COMMENTS 12/7/98 - 1 Research still necessary into DR! questions
communicated by Mr Pinsoa of Rhon-Ernest Jones.
2. Issue proximity of proposed driveway with adjacent Motorola driveway
3 Staff will determine minimum distance between driveways.
Project will be on Lots 15 & 16 - (firm name "Coiltronics").
J \SHRDA T A \Development\PRE-APPLICA nON TRACKING LOG FORM,doc
PRE-APPLICATION TRACKING LOG
PRE-APPLICATION MEETING
Contact Date 12/1/98
Meetin Date 12/7/98 Time: 9.30 AM
PURPOSE OF APPLICATION Build 1 or 2 buildings comprising of 60,000 -
120,000 s . ft. of office, warehouse, Ii ht manufacturin & distribution s ace.
PROJECT NAME PERMIT NO 98-5178
Attending Staff Mike Rumpf, Bob Donovan, Ken Hall & Ed Yates
tc.s
d{\.
Attending for Applicant: David Goldfarb/ Elk, Bankier, Palmer, Christu
Sam Pinson/Rhon Ernest-Jones (954) 344-9855
Phone 561) 368-8800 Fax:
Name of Owner. Quantum Limited Partners, LTD
Address
Phone 561 686-6959 - Quantum Park Owners Assoc. Fax:
Name of Applicant/Contact. David Goldfarb
Address 4800 N Federal Hwy Suite #200 E
Boca Raton, FL 33431
Project Address 3601 & 3701 Quantum Blvd. Lots 15 & 16
PCN 08-43-45-17-07-000-0160 & 0150
Phone:
T e of A lication NWSP
Type of Business
Fax:
Date Submittal Received
Received.
Uj Date Denied.
COMMENTS
J -\SHRDA T A \Development\PRE-APPLICA TION TRACKING LOG FORM,doc
,,'"
'1'~~
PRE-APPLICATION MEETING
SIGN IN SHEET
PLEASE PRINT
MEETING DATE 12/7/98
TIME 9:30 AM
APPLICANT DAVID GOLDFARB
City of Boynton Beach
Attendin Staff
Attending for Applicant
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