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APPLICATION PROJECT NAME: Krispy ~.Jeme LOCATION: 633 NW 1st Avenue COMPUTER ID: 01 42000006 I FILE NO.: LUAR 01-008 I TYPE OF APPLICATION:Land Use Amendment & Rezoning AGENT/CONTACT PERSON : Scott Barber OWNER: Salvador & Norma Seutmanat & Gee & Jenson PHONE: PHONE: 561-515-6500 FAX: FAX: 561-515-6502 ADDRESS: 633 NW 1st Avenue ADDRESS: One Harvard Circle Boynton Beach, FL. 33426 West Palm Beach, FL. 33409 Date of submittal/Proiected meetinl!: dates: SUBMITTAL / RESUBMITTAL 8/20/01 1ST REVIEW COMMENTS DUE: N/A PUBLIC NOTICE: 9/24/01, 10/13/01, 10/23/01, TRC MEETING: N/A PROJECTED RESUBMITTAL DATE: N/A ACTUAL RESUBMITTAL DATE: N/A 2ND REVIEW COMMENTS DUE: N/A LAND DEVELOPMENT SIGNS POSTED N/A (SITE PLANS): PLANNING & DEVELOPMENT BOARD 10/23/01 MEETING: COMMUNITY REDEVELOPMENT N/A AGENCY BOARD CITY COMMISSION MEETING: Public Hearing: 11/7/01 First Reading: 11/20/01 Second Reading: 12/4/01 COMMENTS: APPLICATION SUBMITTAL CHECKLIST COMPREHENSIVE PLAN AMENDMENTS PROJECT NAME: Krispy Kreme OWNER: Dynamic Doughnuts Florida Realty, Inc. 4335 Genessee Street Buffalo, NY 14225 LOCATION: W, Boynton Beach Blvd AGENT: Scott Barber/Gee & Jenson One Harvard Circle West Palm Beach, FL 33409 FILE NUMBER: LUAR 01-008 SUBMITTAL REQUIRED DATE (....) RECEIVED APPLICATION FORM .... 8/20/0 I FEE PAID .... 8/20/01 OWNERS OF RECORD CONSENT FORM COPY OF PURCHASE CONTRACT 8/20/01 AGENT AUTHORIZATION 8/20/01 LEASE AGREEMENT CORP. OFFICERJPERSON RESPONSIBLE AUTHORIZATION SEALED BOUNDARY SURVEY .... 8/20/0 I LEGAL DESCRIPTION .... 8/20/0 I TOTAL ACREAGE (TO 11100 Ac.) .... 8/20/0 I TREE SURVEY PROPERTY OWNER MAILING LIST .... 8/20/0 I PROPERTY APPRAISER'S MAPS .... 8/20/01 APPLICANT'S JUSTIFICATION STATEMENT .... 8/20/01 IMP ACTS ANALYSES DWELLING UNITS N/A USES ALLOWED/EXCLUDED .... N/A TIMING/PHASlNG .... N/A EMPLOYMENT PROJECTIONS TRAFFIC ANALYSIS COMPARISON .... WATER DEMAND COMPARISON .... N/A SEWER DEMAND COMPARISON .... N/A RESIDENTIAL POPULATION N/A LAND USE CONFLICT MITIGATION .... SOILS ASSOCIATION/FLOOD PLAIN MAP GRADE ELEVATIONS WATER BODIES MAINTENANCE PROPOSAL SERVICES PROVISION COMMITMENT ESLO SUBMITTAL OTHER: ., APPLICATION ACCETABLE UATE: RECEIVED BY STAt-F MEMBER: FEE PAID: $~ ')1?v RECEIPT NUMBER: HAS APPLICANT ATTENDED A PRE-APPLICATION MEETING? DATE: PLANNING & DEVELOPMENT BOARD 1101 ~ rrg ~ !! ~ ~ r . ... ? n r nn~f7" ~i. CITY OF BOYNTON BEACH, FLORIDA LAND USE AMENDMENT AND/OR REZONING APPLICATION This application must be filled out completely and accurately and submitted, together with the materials listed in Section II below, in two (2) copies to the Planning Division. Incomplete applications will not be processed, PLEASE PRINT LEGIBLY OR TYPE ALL INFORMATION. I. GENERAL INFORMATION 1. Project Name: Krispy Kreme - Boynton Beach Blvd, 2. Type of Application (check one) X a. Land Use Amendment and Rezoning b. Land Use Amendment Only c. Rezoning only 3. Date this application is accepted (to be filled out by Planning Division) 4. Applicants Name (person or Business entity in whose name this application is made) Dynamic Doughnuts Florida Realty, Inc. Address: 4335 Genesee Street Buffalo, NY 14225 (Zip Code) (561) 871-9602 FAX: (561) 344-0490 Phone: 5. Agent's Name (person, if any, representing applicant): Scott Barber and Gee & Jenson Address: One Harvard Circle West Palm Beach FL 33409 (Zip Code) Phone: (561) 515-6500 FAX: (561) 515-6502 City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 2 6. Property Owner's (or Trustee's) Name: Salvador and Norma Sentmanat Address: 633 NW 1st Ave. Boynton Beach, Fl 33426 (Zip Code) Phone: FAX: 7. Correspondence Address (if different than applicant or agent)" "This is the only address to which all agendas, letters, and other materials will be mailed 8. What is the applicant's interest in the subject parcel: (Owner, Buyer, Lessee, Builder, Developer, Contract Purchaser, etc.) Developer/Contract Purchaser 9. Street Address or Location of Subject Parcel: 633 NW 1st Ave. PCN (s) 08-43-45-29-01-002-0071 10. Legal Description of Subject Parcel: lake Boynton Estates Pl 1 Wl Y 15 ft of lot 7, lot 8 (less SR 804 & 1-95 R1W), East 10 ft of lot 10, lot 11 & west of lot12 BlK 2 11. Area of Subject Parcel (to nearest hundredth (1/100) of an acre: .26 12. Current Land Use Category: Residential 13: Proposed Land Use Category: Commercial 14. Current Zoning District: R-2 15. Proposed Zoning District: C-2 ., City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 3 16 Intended use of subject parcel: Fast food with drive thru 17. Developer or builder: Dynamic Restaurant Operations of Florida, Inc. 18. Architect: To Be Determined 19. Landscape Architect: Gee & Jenson 20. Site Planner: Gee & Jenson 21. Civil Engineer: Gee & Jenson 22, Traffic Engineer: Pinder Troutman Consulting, Inc, 23. Surveyor: Avirom II. MATERIALS TO BE SUBMITTED WITH APPLICATION The following materials shall be submitted in two (2) copies, unless otherwise indicated: (please check) --.2L a. This application form. --.2L b. A copy of the last recorded warranty deed. Xc. The following documents and letters of consent: _(1) If the property is under joint or several ownership: a written consent to the application by all owners of record, _(2) If the applicant is a contract purchaser: a copy of the purchase contract and written consent of the owner and seller, and L(3) If the applicant is represented by an authorized agent: a copy of the agency agreement, or written consent of the applicant, and _(4) If the applicant is a lessee: a copy of the lease agreement, and the written consent of the owner, and _(5) If the applicant is a corporation or other business entity: the name of the officer or person responsible for the application, and written proof that said person has the delegated authority to represent the corporation or other business entity, or in lieu thereof, written proof that he is in fact an officer of the corporation. ~d. A sealed boundary survey of the subject parcel by a surveyor registered in the State of Florida, dated not more than six (6) months prior to the date of submission of the application, at a scale City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 4 prescribed by the Planning Division, and containing the following information: _(1) An accurate legal description of the subject parcel. _(2) A computation of the total acreage of the subject parcel to the nearest hundredth(1/100) of an acre. _(3) A tree survey, which conforms to the requirements of the City of Boynton Beach Tree preservation Ordinance. (Also refer to Page 6, Sec. II h.(12) of this application if property is occupied by native vegetation.) This requirement may be waived by the Planning Director where found to be unrelated to the land use or zoning issues involved with the application. X-e. A complete certified list of all property owners, mailing addresses, and legal descriptions for all properties within at least four hundred (400) feet of the subject parcel as recorded in the latest official tax rolls in the county courthouse shall be furnished by the applicant, including a tax map showing placement of 400 feet boundary. Postage, and mailing labels or addressed envelopes must also be provided. Said list shall be accompanied by an affidavit stating that to the best of the applicant's knowledge said list is complete and accurate. Notification of surrounding property owners will be done by the City of Boynton Beach. ~f. A copy of the Palm Beach County Property Appraiser's maps showing all of the properties referred to in paragraph e. above, and their relation to the subject parcel. ~g. A statement by the applicant justifying the zoning requested, including reasons why the property is unsuitable for development under the existing zoning and more suitable for development under the proposed zoning. The statement should address the following criteria which the Planning and Zoning Division utilizes in evaluating land use amendment and rezoning applications: 1) Whether the proposed land use amendment/rezoning would be consistent with applicable comprehensive plan policies. The division shall also recommend limitations or requirements that would have to be imposed on subsequent development of the property in order to comply with policies contained in the comprehensive plan. 2) Whether the proposed land use amendment/rezoning would be contrary to the established land use pattern, or would create an isolated district unrelated to adjacent and nearby districts or would constitute a grant of special privilege to an individual property owner as contrasted with the protection of the public welfare. 3) Whether changed or changing conditions make the proposed land use amendment/rezoning desirable. 4) Whether the proposed land use amendment/rezoning would be compatible with utility systems, roadways and other public facilities. 5) Whether the proposed land use amendment/rezoning would be compatible with the current and future use of adjacent and nearby properties or would affect the property values of adjacent and nearby properties. " City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 5 6) Whether the property is physically and economically developable under the existing land use designation/zoning. 7) Whether the proposed land use amendment/rezoning is of a scale that is reasonably related to the needs of the neighborhood and the city as a whole. 8) Whether there are adequate sites elsewhere in the city for the proposed use, in districts where such use is already allowed. h. A comparison of the impacts that would be created by development under the proposed zoning, with the impacts that would be created by development under the proposed zoning, with the impacts that would be created by development under the existing zoning, which will include: ~(1) A comparison of the potential square footage of number and type of dwelling units under the existing zoning with that which would be allowed under the proposed zoning or development. ~(2) A statement of the uses that would be allowed in the proposed zoning ordevelopment, and any particular uses that would be excluded. ~(3) Proposed timing and phasing of the development. ~(4) For proposed zoning of property to commercial or industrial districts, where the area of the subject parcel exceeds one (1) acre, projections for the number of employees. (5) A comparison of traffic which would be generated under the proposed zoning or development, with the traffic that would be generated under the current zoning; also, an analysis of traffic movements at the intersections of driveways that would serve the property and surrounding roadways, and improvements that would be necessary to accommodate such traffic movements. For projects that generate move than five hundred (500) net trips per day, a traffic impact analysis must be submitted which complies with the Municipal Implementation Ordinance of the Palm Beach County Traffic Performance Standards Ordinance. (a) For projects that generate two thousand (2,000) or more net trips per day, the traffic impact analysis must be submitted to the City at least 30 days prior to the deadline for land use amendment and/or rezoning, in order to allow for timely processing of the application and review by the City's traffic consultant and Palm Beach County. The applicant shall be billed for the cost of review by the City's traffic consultant. (b) For projects that generate between five hundred (500) and two thousand (2,000) net trips per day, the traffic impact analysis must be submitted at the application deadline for land use amendment and/or rezoning, in order to allow for timely processing of the application and review by Palm Beach County. However, if it is the desire of the applicant to utilize the City's traffic consultant for review of the traffic impact analysis prior to review by Palm Beach County, then the procedure and requirements outlined under item "a" above shall be followed. " City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 6 NOTE: Failure to submit traffic impact analysis in the manner prescribed above may delay approval of the application, _(6) For parcels larger than one (1) acre, a comparison of the water demand for development under the proposed zoning or development with water demand under the existing zoning. Water demand shall be estimated using the standards adopted by the Palm Beach County Health Department for estimating such demand, unless a registered engineer justifies different standards. Commitment to the provision of improvements to the water system shall also be included, where existing facilities would be inadequate to serve development under the proposed zoning. (7) For parcels larger than one (1) acre, a comparison of sewage flows that would be generated under the proposed zoning or development with that which would be generated under the existing zoning. Sewage flows shall be estimated using the standards adopted by the Palm Beach County Health Department for estimating such flows, unless a registered engineer justifies different standards. Commitment to the provision of improvements to the sewage collection system shall also be included, where the existing facilities would be inadequate to serve development under the proposed zoning. _(8) For proposed residential developments larger than one (1) acre, a comparison of the projected population under the proposed zoning or development with the projected population under the existing zoning. Population projections according to age groups for the proposed development shall be required where more than fifty (50) dwellings, or 50 sleeping rooms in the case of group housing, would be allowed under the proposed zoning. _(9) At the request of the Planning Division, Planning and Development Board, or City Commission, the applicant shall also submit proposals for minimizing land use conflicts with surrounding properties. The applicant shall provide a summary of the nuisances and hazards associated with development under the proposed zoning, as well as proposals for mitigation of such nuisances and hazards. Such summary shall also include, where applicable, exclusion of particular uses, limitations on hours of operation, proposed location of loading areas, dumpsters, and mechanical equipment, location of driveways and service entrance, and specifications for site lighting. Nuisances and hazards shall be abated or mitigated so as to conform to the performance standards contained in the City's zoning regulations and the standards contained in the City's noise control ordinance. Also, statements concerning the height, orientation, and bulk of structures, setbacks from property lines, and measures for screening and buffering the proposed development shall be provided. At the request of the Planning and Development Board or City Commission, the applicant shall also state the type of construction and architectural styles that will be employed in the proposed development. _(10)At the request of the Planning Division, Planning and Development Board, or City Commission, the applicant shall also submit the following information: _(a) Official soil conservation service classification by soil associations and all areas subject to inundation and high ground water levels. _(b) Existing and proposed grade elevations. ,. City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 7 _(c) Existing or proposed water bodies, _(d) Form of ownership and form of organization to maintain common spaces and recreation facilities. (e) A written commitment to the provIsion of all necessary facilities for storm drainage, water supply, sewage collection and treatment, solid waste disposal, hazardous waste disposal, fire protection, easements or rights-of-way, roadways, recreation and park areas, school sites, and other public improvements or dedications as may be required. (11)For rezonings to planned zoning districts, the specific requirements for submission of applications for rezoning to such districts shall also be satisfied. Furthermore, all materials required for a subdivision master plan shall also be submitted, (12) Where conformance with the county's Environmentally Sensitive Lands Ordinance is required, an Application for Alteration of Environmentally Sensitive Lands (Environmental Impact Study) must be submitted to the Palm Beach County Department of Environmental Resources Management (copy to City) prior to or concurrent with the submittal of the Land Use Amendment and/or Rezoning Application to the City. III. APPLICATION FEES Fees shall be paid at the time that the application is submitted, according to the fees which have been adopted by ordinance or resolution. The Planning Division will inform the applicant as to the fees which are required. All fees shall be paid by check, payable to the City of Boynton Beach. IV. Representative of the project must be present at all Technical Review Committee, Planning and Development and City Commission meetings held to review this project. < City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 8 V. CERTIFICATION (I) (We) understand that this application and all plans and papers submitted herewith become a part of the permanent records of the Planning and Zoning Board. (I) (We) 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, or Authorized Principal if property is owned by a corporation or other business entity. Date VI. AUTHORIZATION OF AGENT ~- ~ uth . ed Agent 8J~1~ Dat (I) (We) hereby designate the above signed person as (my) (our) authorized agent with 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 City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 9 SPACE BELOW THIS LINE FOR OFFICE USE ONLY Review and Processing Schedule: ~Date Accepted by Planning Division ~Date Transmitted to City Clerk ~Date Notifications Mailed to Surrounding Property Owners ~Dates of Advertisement in Newspaper (rezoning and/or land use amendment) Dates of Advertisement in Newspaper (annexation) _Date of Transmission of Departmental Review Forms to Department Heads ~Date of Review by Technical Review Committee ~ Date of Pre-Hearing Conference ~Date of Public Hearing Before Planning & Development Board ~Date of Public Hearing Before City Commission ~Date of Transmission of Proposed Comprehensive Plan Amendment to Florida Department of Community Affairs, pursuant to Florida Statutes, F.S. 163.3184 (1) (a) ~Date of Transmission of Proposed Comprehensive Plan Amendment to Other Governmental Agencies Requesting Notification, Pursuant to Florida Statutes, F.S. 163.3184 (1) (b) ~Date of Receipt of Notice from Florida Department of Community Affairs Regarding Comprehensive Plan Amendment, pursuant to Florida Statutes, F,S. 163,3184 (4) ~Date of Hearing Before Florida Division of Administrative Hearings, Pursuant to Florida Statutes, F.S. 163.3184 (5) (b) ~Date of Hearing Before City Commission on Revised Comprehensive Plan Amendment, Pursuant to Florida Statutes, F.S. 163.3184 (6) (a) ~Date of Transmission of Revised Comprehensive Plan Element to Florida Department of Community Affairs, Pursuant to Florida Statutes, F.S. 163.3184 (6) (a) ~Date of Receipt of Notice from Florida Department of Community Affairs Regarding Revised Comprehensive Plan Amendment ~Date of Hearing Before Florida Division of Administrative Hearings, Pursuant to Florida Statutes, F.S. 163.3184 (7) City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 10 _Date of First Reading of Ordinance to Annex _Date of First Reading of Ordinance to Rezone and Amend Future Land Use Map _Date of Second Reading of Ordinance to Annex _Date of Second Reading of Ordinance to Rezone and Amend Future Land Use Map _Date of Expiration of Zoning _ Date of Expiration of Time Extension for Zoning City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 11 NOTICE TO APPLICANTS FOR SITE PLAN, CONDITIONAL USE, PLANNED ZONING DISTRICT, SUBDIVISION, OR OTHER APPROVALS RE: Plans, Elevations, and Other Documents Submitted to City Commission and Board Meetings Any documents prepared by applicants which are distributed at the public meetings must be provided, at a minimum, in the following quantities in order to allow each Commission or Board member to have a copy, as well as the City Manager, City Attorney, Recording Secretary, Planning Director, and Building Official: City Commission: 10 copies Planning and Development Board: 12 copies Community Appearance Board: 12 copies Also, for any site plans, master plans, and elevations which are submitted for the record at Commission or Board meetings, and which are revisions to plans or elevations which were previously submitted to the City, six (6) copies of the revised plans or elevations must be subsequently submitted to the Planning Division. Furthermore, any colored elevations which are exhibited to the Boards or Commission which are different from those which were previously submitted must be submitted to the Building Department so that the building color and elevations can be inspected prior to the issuance of a Certificate of Occupancy. These measures will allow the City to have an accurate record of the project as it was approved by the Commission or the Boards, and will allow for the efficient inspection of the project. City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 12 NOTICE TO APPLICANTS FOR APPROVAL OF LAND DEVELOPMENT ORDERS OR PERMITS Please be advised that all applications for the following land development orders and permits which are submitted on or after June 1, 1990 will be subject to the City's Concurrency Management Ordinance, and cannot be approved unless public facilities (potable water, sanitary sewer, drainage, solid waste, recreation, park, and road> facilities) would be available to serve the project, consistent with the levels of service which are adopted in the City's Comprehensive Plan: - Building permit applications for the construction of improvements which, in and by themselves, would create demand for public facilities. - Applications for site plan approval. - Applications for conditional use approval. - Applications for subdivision master plan approval. - Applications for preliminary plat approval. - Applications for final plat approval. - Applications for rezoning to planned zoned districts. - Applications for revisions to any of the applications listed above, which would increase the demand for any public facility. > Applications for development orders and permits submitted after February 1, 1990 and which generate more than 500 net vehicle trips per day, must comply with the Palm Beach County Traffic Performance Standards Ordinance, unless exempt from that ordinance, Please be advised, however, that the following applications will be exempt from the Concurrency Management Ordinance, pending final approval of this ordinance by the City Commission: - Applications for the development of property which was platted on or after January 13, 1978 and either the final plat or the preliminary plat and Palm Beach County Health Department permit applications were submitted or approved prior to June 1, 1990, and the use of the property is consistent with the general use which was intended for the property at the time of platting. - Applications for the development of property which was platted prior to January 13, 1978, the area of the platted lots does not exceed 2 acres, and the proposed use would not generate more than 500 net vehicle trips per day. - Applications for building permit, if a site plan or conditional use was submitted prior to June 1, 1990 and subsequently approved, and the site plan or conditional use has not expired. ., City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 13 - Applications for the development of property within an approved Development of Regional Impact, and which are consistent with the approved DR!. - Applications for approval of final plats, if the preliminary plan and application for Palm Beach County Health Department permits for utilities have been submitted prior to June 1, 1990. - Applications for revisions to previously approved development orders or permits, which do not increase the demand for any public facility. Please be advised that these exemption rules are tentative and will be subject to final approval by the City Commission. If you have any questions concerning the proposed Boynton Beach Concurrency Management Ordinance, please contact the Boynton Beach Planning Division at (561) 375-6260. J:ISHRDATAIPlanningIHudsonICOMP PLAN PROCESSINEW LUAR APPLlCATION.doc Revised 10/15/1998 ~ ~ City of Boynton Beach LAND USE AMENDMENT AND/OR REZONING APPLICATION Page 14 NOTICE TO APPLICANTS FOR REZONING AND/OR LAND USE ELEMENT AMENDMENT CONDITIONAL USE APPROVAL BOARD OF ZONING APPEALS VARIANCE All applications received by the City of Boynton Beach after August 1, 1985 shall be accompanied by mailing labels with the names and addresses of all property owners within four hundred (400) feet of the subject property and postage (1st class stamps or payment for required postage), Applications will not be accepted without these mailing labels and postage, CONTACT -- PALM BEACH COUNTY PROPERTY APPRAISERS OFFICE ATTN: MAPPING DIVISION 301 North Olive Avenue West Palm Beach, Florida (561) 355-3881 (~'-'Gee & Jenson "">.q_~JfI' .... ~ C'ekbmtin;; 50 rem} of Design E\wl/ence JUSTIFICATION STATEMENT FOR KRISPY KREME BOYNTON BEACH BOULEVARD 8/20/01 Dynamic Donuts of Boynton Beach, Inc, is submitting a Land Use Amendment and Rezoning application to change a Residential parcel zoned R2 to a Commercial parcel zoned C2, The ,26 acre parcel is located outside of the Community Redevelopment Area, approximately 600 feet west ofInterstate 95 on the south side of Boynton Beach Boulevard across from West Industrial Avenue, If approved the site will be included in a Conditional Use submittal for an existing vacant 34,000i: square foot C2 zoned lot to the west, and will be utilized as a parking lot area for a proposed fast food restaurant with a drive-thru. The site is currently developed as the western most residential lot in a line of six duplex lots between Interstate 95 and the vacant 34,000 square foot lot. The applicant is interested in obtaining this small lot to increase the useable area of the vacant C2 zoned lot to Ii: acre, The addition of the this site and it's location across from W, Industrial Ave, will allow the proposed fast food restaurant development to be more traffic efficient. If approved the ,26 acre site will become a portion of the commercial node extending from just north of SW, 8th Street to 1-95, on the north and south sides of Boynton Beach Boulevard, One Harvard Circle, West Palm Beach, FL 33409,1923 T(56I) 515,6500 F(561) 515,6502 ENGINEERING IEB 0002934 ARCHITECTURE IAA C000656 LANDSCAPE ARCHI TECTUREtLC CDOOO50LAND SURVEYING ILB0002934 INTERIOA DESIGN/IBQOO1020 DYNAMI' .I0UGHNUTS OF BOYNTOl'f :':ACH, INC. 4225 Genesee Street Buffil1o, New York 14225 (716) 634-2121 '.- Fax (716) 634-6059 AGENT CONSENT FORM 've1v ~/L. STATE Of fl81\IBA COUNTY OF PAlLM .If, ell ~ ----._...------.~ BEFOREMETH!S DAYPERSONALLV APPEARED :JlffrJ1~ If, ceifc..0U7.J(.(),~/~dF WHO BEING DULY SWORN, DEPOSES AND SAYS THAT: .-D7'~ Ie Cl/utr;~~ ~~~ tAl1"J1.IOt!l) <=JCi I ~ 1. He/she is the\oQwner of the nlal proper1y legally deecrlbed in the applic '3tio"! ilIA- P/.UC~tf Ax,D SA-!$ AG~t:x:r DRfe'.O ~ I'-(Zoo/, 2. He/she duly authorizes and designates Sl:ctt Barbo, (Gee & Jenso:u to act In hisltter behalf for the purposes of the real property legally desc:riblld in this application 3. He/she has examined the foregoing appllcation and he/she unders1a ,ds how the proposed change may aff,ct the real properly legally describe:! in this application FURTHER AFFIANT SAYEiH NOT, The foragoin..9~nstrumenl was acknowledged before me this /3 day of AuW5 L. 200, by J7f)o.1~3";If c...r-r(.uI (name of Illdividual Acknowledging) who is known to me or has produced - ~,.t,.../ . n) as identiflcation and who did (did not) take an oath, tf ~ --......~/W'/~ ne~s Signalu@. . .d-., _.r' Au. _. .4~,", ~/C ~~7f a- ,~/-c,(""-"",,,.c/-r 81: J~,m;~ A C<lj'e!l<4~ j/;eF5, ,J;.. Owner's Name (Printed) CHRISTOPHER J, D'ANGELO Notary Public. State of Ne;;:;? "'Z--) Qualifiad in Ene Cou N.Y, Commission Expires Ot,./ L/z:z.,.s c;,e;v~ S'T. Owner's Address ~F~ q' JI!ZZ-.5 City, Stale, ZIp Cod ?((P. C. 3cj~ 2(2-) Telephone (Notary Seal) Serial Number PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made this ~ day of July, 2001, by and between August and Joseph Vultaggio, ("Seller"), having offices at 1501 N.W. 2nd Avenue, Boca Raton, Florida 33432, and Dynamic Doughnuts Florida Realty, Inc., (or its assign) a Florida corporation ("Purchaser"), having offices at 4225 Genesee Street, Buffalo, New York 14225. 1. Sale of Property. Subject to termination during the Due Diligence Period (see Section 11) Seller agrees to sell and convey to Purchaser and Purchaser agrees to purchase and acquire from Seller, the property located in Palm Beach County, Florida, consisting of the real property described on Exhibit "A" attached hereto, including all improvements located thereon (collectively, the "Property") upon the terms and conditions set forth below. 2. Appurtenant Rights. Included in the purchase and the sale are all of Seller's right, title and interest in and to the following (subject, however, to the "Permitted Encumbrances", as hereinafter defined below) : (a) all easements, rights-of-way, streets and other appurtenances to the Property. 3. Purchase Price, Payment, and, Deposit. (a) The purchase price (the "Purchase Price") is Four Hundred Eighty Five Thousand u.S. Dollars ($485,000.00), subject to the adjustments and prorations specified below. The Purchase Price will be paid as follows: (1) On the "Effective Date" of this Agreement (defined below) Purchaser shall pay to Sussman Realty, Inc. ("Escrow Agent") the sum of $5,000.00 ("Deposit") which is to be held and applied as hereinafter provided; and (2) At the time of Closing, Purchaser shall pay the balance of the Purchase Price to Seller subject to the adjustments provided for herein. (b) If Purchaser elects to terminate this Agreement under Sections 11 or 12 or if Seller defaults under this Agreement, then the Deposit will be returned to Purchaser. The balance of the cash to close, subject to adjustments and prorations must be paid to Seller at Closing by wire transfer of immediately available Federal funds to such bank account as has been designated by Seller or by such other manner of payment as may be directed by Seller. (c) Purchaser's obligations are subject to the Due Diligence Period described in Section 11, (d) Purchaser's obligations are subject to Zoning Change and Approval Period described in Section 12, (e) "Effective Date" means the date on which this Agreement is signed by the Seller and delivered to Purchaser. 4. Title. (a) Seller agrees to deliver by proper special warranty deed, and Purchaser agrees to accept, title to the Property, free and clear of all liens, encumbrances and matters other than the Permitted Encumbrances. The Permitted Encumbrances are: (i) ordinances and other requirements of any 2 applicable governmental authority; (ii) the lien of taxes and assessments for the calendar year of the Closing and all subsequent years; (iii) restrictions and matters appearing on the plat of the Property or otherwise common to the subdivision of which the Property is a part; (iv) public utility easements, so long as same does not encroach upon the current building structure; (v) matters shown on the "Commitment" (defined below) which are accepted or deemed accepted by Purchaser; (vi) (vii) matters incurred by Purchaser; and the Permitted Exceptions as set forth on Exhibit "B". (b) Within ten (10) days of the Effective Date, Seller or its agent, shall deliver or cause to be delivered to the Purchaser a commitment for owner's title insurance ("Commitment") issued by Chicago Title Insurance Company ("Title Company") in the amount of the Purchase Price setting forth the status of the title of the Property, together with all instruments listed as exceptions to the Commitment. The Seller shall pay for all costs of the Commitment and Owner's Policy and the Commitment and Seller I s agent shall issue Policy. 3 (c) Within fifteen (lS) days after the Effective Date, Seller shall provide the Purchaser with the copy of the latest survey of the Property which it possesses. If it requires an updated survey, Purchaser may have the Property surveyed and certified by a registered Florida surveyor at its expense, (d) If, during the Due Diligence Period, Purchaser finds title to the Property to be subject to matters other than the Permitted Exceptions, or if the survey shows any encroachments or title defects (other than Permitted Exceptions), then Purchaser shall notify Seller, in writing, during the Due Diligence Period, specifying the defect(s). If any defect(s) render title unmarketable, then Seller will have sixty (60) days from receipt of notice to remove the defect(s). If Seller fails to remove the defects, or obtain affirmative title insurance coverage, then Purchaser, as its sole remedy for such failure, may, within five (5) business days after expiration of the sixty (60) day period, deliver notice to Seller demanding a refund of the Deposit, whereupon this Agreement will terminate and the parties will have no further obligations to one another, other than those which are stated to survive the termination of this Agreement, If Purchaser fails to so notify Seller, then Purchaser will be deemed to have elected to proceed to Closing and the unresolved title defect(s) will be deemed Permitted Exceptions. 5. Closing. Unless extended by the terms of Section 4, the closing of the purchase and sale of the Property (" Closing ") will 4 take place at a place in Palm Beach County, Florida, at a place designated by Seller, the later of December 1, 2001, or forty five (45) days following the official date that Zoning Change and Approvals are obtained by Purchaser (the "Closing Daten); but in no event shall Closing take place any later than March 18, 2002, unless mutually agreed to in writing between Purchaser and Seller, 6. Prorations and the Adjustments. (a) Municipal improvement liens or other assessments where the work has been completed or has physically commenced as of Closing (certified liens), shall be paid by Seller at Closing. Municipal improvement liens or other assessments which have been authorized but where the work has not commenced as of Closing (pending liens) shall be assumed by Purchaser. (b) As of midnight on the day before the Closing Date: Real and personal property taxes (which include all recurring assessments and levies by governmental authorities or special districts) will be prorated on the basis of the current year's taxes. If Closing occurs before the amount of current taxes has been determined then those taxes will be apportioned upon ............t.lle. ..pasis of the t.axes for _t.he__IIlQat_.recent calendar year available, and a tax re-proration agreement will be incorporated into the Closing Statement. If any expenses are not known, then such expenses will be estimated and, once the amounts are known, either party may request an adjustment. If neither party requests an adjustment within thirty (30) days after the Closing Date, then the prorations made 5 at the Closing will be final. 7. Closing Procedure and Documents. (a) At the Closing, and simultaneously with the payment of the Purchase Price to Seller, Seller must deliver, or cause to be delivered to Purchaser, the following items: (i) a Special Warranty Deed (the "Deed") conveying fee simple title to the Property, subject to the Permitted Encumbrances and the matters referred to on the Corrmitment, which is acceptable to Purchaser; (ii) a FIRPTA affidavit; (iii) an affidavit in the form required by the title company, to delete the standard printed exception relating to the "gap" and to remove the standard printed exceptions for construction liens; and (iv) an endorsement to the Commitment deleting the "gap" exception, the exceptions for construction liens and rights of parties in possession, the survey exception (if a current survey is provided) (except to the extent such survey matters constitute Permitted Exceptions) and the Schedule B-1 requirements. (b) At Closing, and simultaneously with the delivery to the Purchaser of the items set forth in paragraph (a). Purchaser must deliver the cash to close, to Seller, in accordance with Section 3. 6 (c) At Closing, Seller and Purchaser must execute and deliver to each other a Closing Statement in customary form, and, if necessary, a tax re-proration agreement. (d) At Closing, Seller will terminate any contracts it may have entered into providing for continuing services to the Property. 8. Closing Expenses. Seller shall bear the expenses for state documentary stamps required to be affixed to the Deed. Seller will bear all costs relating to the Commitment and the owner I s title policy to be issued in accordance with the Commitment. The cost of recording the Deed, the Survey (if prepared) and all of the expenses and fees in connection with any mortgage or financing obtained by Purchaser 'in connection with the Property, will be borne by Purchaser. Each party will bear the expense of its legal counsel. 9. Broker. The Seller and Purchaser represent that the only broker involved with this transaction is Sussman Realty, Inc., 1499 West Palmetto Park Road, Boca Raton, Florida 33486. Broker will be entitled to receive a commission from Seller if, as, and when the transaction closes pursuant to a separate letter agreement dated May 26, 2001 between Seller and Broker. Each party hereto agrees to hold the other harmless from the claims of any other broker claiming to have dealt with the indemnifying party in connection herewith. This indemnification shall survive the Closing or termination hereof. 10. Risk of Loss. THIS SECTION HAS BEEN INTENTIONALLY 7 OMITTED. 11, Due Diligence Period. (a) The Due Diligence Period is that period of time commencing on the Effective Date and expiring at 5:00 p.m. on the date that is forty-five (45) days later, except that the Due Diligence Period shall be extended to the date that is seventy-five (75) days after the Effective Date if Purchaser determines that a Phase II Environmental Report is necessary and provides notice to Seller of its intention to obtain a Phase II Environmental Report before the expiration of forty- five (45) days after the Effective Date. During the Due Diligence Period Purchaser may investigate title, as provided in Section 4, and "may obtain a Phase I Environmental Report and/or a Phase II Environmental Report (the "Environmental Report") wi th respect to the Property; such report shall be certified to the Seller. Purchaser and its representatives must take reasonable precautions so that any inspections of the Property incident to the Environmental Report cause no damage to the Property. Any entry made on the Property by Purchaser or its representatives must be upon reasonable notice to Seller and at reasonable times and at the sole risk of Purchaser. Purchaser shall indemnify and hold Seller harmless from losses, claims, liabilities, actions, demands, costs, and expenses, including reasonable attorney and paralegal fees and expenses, arising from or in connection with any such Environmental Report, including any entry upon 8 the Property by agents or contractors of Purchaser or their sub-agents or sub-contractors. Purchaser must pay for the Environmental Report performed on or in connection with the Property and must not permit the creation of any lien in favor of any party. (b) Purchaser's indemnity obligations under this Section will survive the Closing or the termination of this Agreement. The Deposit will serve as a guaranty of Purchaser's indemnity and undertakings under this Section 11, and Seller is hereby authorized by Purchaser to apply the Deposit or any part thereof to satisfy those obligations upon written demand from Seller. (c) Purchaser may terminate this Agreement at any time during the Due Diligence Period if, for any reason, Purchaser determines that the Property is unsatisfactory to Purchaser for its desired use by giving written notice ("Termination Notice") to Seller. This Agreement may also be terminated by Purchaser because of title defects which are not corrected during the period provided in paragraph 4 (d) hereof. If Purchaser properly terminates this Agreement, then the Deposit shall be promptly returned to Purchaser, and upon such repayment, this Agreement will terminate, other than those provisions, which are stated to survive the termination of this Agreement. TIME IS OF THE ESSENCE FOR THE PURPOSES OF THIS SECTION WITH RESPECT TO PURCHASER'S RIGHT TO TERMINATE THIS AGREEMENT. 9 (d) If Purchaser fails to deliver the Termination Notice to Seller by 5:00 p.m. on the last day of the Due Diligence Period as provided in paragraph 11 (a), or as provided in Section 4 (d) hereof, then, except upon Seller's failure and refusal to close, and Purchaser's election to do so, Purchaser will be deemed to have waived any right to terminate this Agreement under this Section. 12. Condi tioD Precedent: The Purchaser's Purchase of the Subject Property shall be expressly conditioned upon its receipt of an approval for a change of zoning of the Subject Property from R2 (Multi-family) to C-2 (Neighborhood commercial) from all required local and state governmental authorities ("Zoning Change") along with its receipt of all' necessary approvals (city and state) which shall allow for the Purchaser's construction and operation of a fast food restaurant of approximately 4500 square feet consisting of a drive thru which are satisfactory to allow the operation of a franchised restaurant as selected by Purchaser ("Approvals"). Purchaser shall be responsible for the cost and expense of obtaining said Zoning Change and Approvals. Said Zoning Change and Approvals required by Purchaser with regards to the Subject Property shall be directly related to and in direct connection with Purchaser's application regarding the adjacent property (-'Adjacent Property") which Adjacent Property and Subject Property shall be combined together and become the Purchaser's over-all application. It is understood and agreed between the parties that said Zoning Change and Approvals must be received on or before December 1, 10 2001. In the event Purchaser does not receive Zoning Change and Approvals by this date as a result of delays caused beyond its reasonable control, and provided that Purchaser has diligently prosecuted such Zoning Changes and Approvals, it shall be provided with up to an additional 60 days to receive such Zoning Change and Approvals. Purchaser agrees to use its best efforts to diligently Pursue said Zoning Change and Approvals and keep Seller advised as to its progress. In the event that Purchaser fails to obtain Zoning Change and Approvals on or before 12:00 AM, January 31, 2002, this Agreement shall terminate and the Purchaser shall receive its Deposit back in full. 13. Purchase of Adjacent Property by Purchaser: Purchaser represents that simultaneous with the execution of this Agreement, it is entering into a Purchase and Sale Agreement with the Adjacent Property owner (a copy of which is attached hereto as Exhibit c) to purchase said Adjacent Property for the sum of $250,000.00. It is the sole intention of the Purchaser to purchase and utilize the Adjacent Property in connection with its proposed site plan and development of the restaurant, and in order to meet certain requirements related to the necessary Approvals to be obtained as a condition of this Agreement. In the event Purchaser fails to obtain Zoning Change or Approvals as contained herein and as a result terminates this Agreement, upon written request by Seller, Purchaser hereby agrees to assign the Adjacent Property Agreement, to the extent that such Adjacent Property Agreement is assignable, to Seller at no additional cost. In the event of assignment II Seller shall reimburse Purchaser for its deposit paid under said Adjacent Property Agreement, and shall indemnify Purchaser against any claims for damages made by the seller pursuant to the Adjacent Property Agreement for default made by Seller in connection with such Adjacent Property Agreement. 14. Seller Cooperation: Seller agrees to fully cooperate with Purchaser and its agents with respect to the signing of applications, permits, approvals, etc. which may be required to obtain Zoning Change and Approvals provided that none of which will irrevocably encumber or bind the Subject Property in the event that Purchaser fails to close. 15. Condition of Property: Except as specifically set forth in this Agreement, Seller makes no representations or warranties expressed or implied, with respect to the quality, physical condition, expenses, legal status, zoning, value, utility or potential of the Property; or any other matter or thing affecting or relating to the Property, or to this Agreement (including, without limitation, warranties of merchantability and/or fitness for a particular purpose) which might be pertinent in considering whether to purchase the Property or to make and enter into this Agreement, and Purchaser acknowledges that, except as provided in this agreement, no such representations or warranties have been made or relied upon. Seller is not liable or bound in any manner by any warranties, either express or implied, guaranties, or any promises, statement, representations of information pertaining to the Property or the value thereof made or 12 furnished by any employee, servant, broker or other person representing or purporting to represent Seller, the Seller's liability being strictly limited to the express representations and warranties set forth in this Agreement. If it elects to purchase the Property , then Purchaser is acquiring it "AS IS, WHERE IS" AND "WITH ALL FAULTS", 16. Seller's Warranties. To induce Purchaser to enter into this Agreement, Seller makes the following representations and warranties which are true as of the Effective Date and shall be true as of the Closing Date but which shall not survive Closing: (a) Seller represents that they have full right and authority to enter into this Agreement and sell the Property, and that, as of 'the date hereof, Seller has received no notices of violations by any governmental agency having jurisdiction over or affecting the Property. (b) Seller has no actual notice of any suits, actions or proceedings pending or, to the best of Seller's knowledge, threatened, against or affecting the Property, or the transactions contemplated herein, and Seller is not in default with respect to any judgment, order, writ, injunction, rule or regulation of any court or governmental agency or commission to which Seller is subject in any way affecting the Property, or the transactions contemplated herein. (c) Seller has no actual notice of any pending or threatened legal or administrative proceedings relative to condemnation, or other taking by governmental authority, of 13 all or any portion of the Property. (d) Seller is not a "foreign person" as that term is defined in Section 1445(f) (3) of the Internal Revenue Code. 17. Prohibition of Recording. Purchaser may not record this Agreement. If Purchaser (or any agent or representative of Purchaser) attempts to record this Agreement or any memorandum hereof or any reference hereto in the public records, then Seller may terminate this Agreement by notice to Purchaser. If Seller terminates this Agreement under this Section, then Seller shall retain the Deposit and the parties will be relieved of any further liability or obligation under this Agreement (except as otherwise specifically provided herein) . 18. Default. (a) If, after the termination of the Due Diligence Period, and upon Purchaser's receipt of Zoning Change and Approvals, Purchaser defaults in the payment of the Purchase Price or otherwise fails or refuses to close on the purchase of the Property, without the fault of Seller and without a failure of title, then Seller will be entitled to retain the Deposit, as its sole remedy and as full and agreed upon liquidated damages, consideration for the execution of this Agreement, and in full settlement of Seller's claims against Purchaser, the parties acknowledging that the actual damages of Seller would be impossible to determine and, thereupon, the parties will be relieved of all further obligations under this Agreement except for those provisions specified to survive the termination of this Agreement. 14 (b) If Purchaser has satisfied its obligations pursuant to this Agreement, but Seller fails or refuses to close on the sale of the Property, then Purchaser may, either (i) receive a full refund of the Deposit; (ii) sue Seller for specific performance of this Agreement; (iii) bring suit against Seller for any damages incurred by Purchaser because of the default by Seller. 19. Survival. Except as specifically provided otherwise herein, all covenants, terms, provisions, representations and warranties set forth in this Agreement, will be merged into Deed at Closing. 20. Counterparts. This Agreement may be executed in one or more counterparts, each of which is an original but all of which, together, constitute one and the same agreement. 21. Time of Essence. TIME IS OF THE ESSENCE ON THE PART OF EACH PARTY PERFORMING ALL OF THE TERMS, CONDITIONS AND COVENANTS TO BE PERFORMED UNDER THIS AGREEMENT. 22. Modification Must Be in Writing. Any modification of this Agreement will be invalid unless executed in writing and signed by the applicable duly authorized representatives of Seller and Purchaser, 23. No Waive. Except as otherwise provided in this Agreement, no waiver of any provision of this Agreement will be effective unless it is in writing and signed by the party against whom it is asserted, and any such written waiver will only be applicable to the specific instance to which it relates and will not be deemed to 15 be a continuing or future waiver. 24. Captions and Section Headings. Captions and Section headings contained in this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope or intent of this Agreement, nor the intent of any provision thereof. 25. E7hihits. All of the exhibits attached hereto are incorporated herein by reference and form part of this Agreement for all purposes. For convenient reference, the following list briefly describes the exhibits to this Agreement: Exhibit "A" - Legal Description Exhibit "B" - Permitted Exceptions Exhibit "C"- Adjacent Property Agreement 26. Assignability; Binding Effect. Provided that Purchaser remains liable to Seller according to the terms of this Agreement, Purchaser may assign its rights pursuant to this Agreement. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal representatives, successors and assigns. 27, Attorneys' Fees. In the event of any litigation arising out of or connected in any manner with this Agreement, the nonprevailing party must pay the costs of the prevailing party, including its reasonable attorney and paralegal fees and expenses incurred in connection therewith through and including the costs of any appeals and appellate costs relating thereto. This Section 27 16 will survive Closing or the termination of this Agreement, 28. Notices. All notices, offers, acceptances, rejections, consents, requests and other communications under this Agreement shall be in writing and will be deemed to have been given (i) when delivered in person, or (ii) when sent by first class certified or registered mail, postage prepaid, return receipt requested, or (iii) on receipt, after being sent by u.s. Express Mail or a reputable delivery service guaranteeing overnight delivery. All notices must be addressed as follows unless the person has given notice of a new address: If to Purchaser: Dynamic Doughnuts Florida Realty, Inc. 4225 Genesee Street Buffalo, New York 14225 Att; Christopher J. D'Angelo, Vice President With copy to: Dynamic Doughnuts Florida Realty, Inc. 2499 Glades Road, Suite 106 Boca Raton, FL 33431 Att: James A. Cosentino; President With an additional copy to: Martin B. Farber, Esq. 5820 Main Street Williamsville, New York 14221 If to Seller: August and Joseph Vultaggio 1501 N.W. 2M Avenue Boca Raton, Florida 33432 With copy to: Jeffrey A, Levine, P.A. 900 North Federal Highway Boca Raton, Florida 33432 If to Escrow Agent: Sussman Realty, Inc. 1499 West Palmetto Park Road Suite 314 Boca Raton, Florida 33486 29. Waiver of Strict Construction against Drafting Party. If 17 any provision of this Agreement is subject to judicial interpretation, the court interpreting or considering such provision may not apply the presumption or rule of construction that the terms of this Agreement be more strictly construed against the party which itself or through its counselor other agent prepared the Agreement, as all parties hereto have participated in the preparation of the final form of this Agreement through review by their respective counsel and the negotiation of changes in language' in any provision deemed unsuitable or inadequate as initially written; and, therefore, the application of such presumption or rule of construction would be inappropriate and contrary to the intent of the parties. 30. Interpretation. If anyone or more of the provisions of this Agreement is invalid, illegal or unenforceable in any respect, the validity of the remaining provisions will not be affected, prejudiced or disturbed thereby. The use of any gender includes all other genders. The singular includes the plural, and vice versa. Use of the words "herein," "hereof," "hereunder" and any other words of similar import refer to this Agreement as a whole and not to any particular article, section or sub-section of this Agreement unless specifically noted otherwise in this Agreement, 31. Governing Law and Jurisdiction. This Agreement will be governed by, construed and enforced in accordance with the laws of the State of Florida. The venue of any action hereunder shall be Palm Beach County, Florida. 32. Third Parties. This Agreement does not confer in favor of 18 any third parties any rights whatsoever as third-party beneficiaries, the parties hereto intending by the provisions hereof to confer no such benefits or status. 33. Calculation of Time Periods. Unless specifically provided otherwise, whenever this Agreement calls for or contemplates a period of time for the performance of any term, provision or condition of this Agreement, all of the days in such period of time must be calculated consecutively without regard to whether any of the days falling in such period of time is a Saturday, Sunday or other non-business day; provided, however, that if the last day of any such time period falls on a Saturday, Sunday or other non-business day, then the last day will be extended to the next succeeding business day. The term "business day" as used in this Agreement shall mean Monday through Friday, excluding holidays when the Federal Reserve System is closed. 34. Contract Not an Offer. This Agreement will not be binding on Seller or Purchaser nor will Seller have any obligation to Purchaser unless and until Seller executes a copy of this agreement and thereafter unconditionally delivers it to Purchaser on or before July 10, 2001 - 5 p.m. , 35. Radon Gas Notification. In accordance with the requirements of Section 404.056(8), Florida Statutes the following notice is hereby given: RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in sufficient 19 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 local County Public Health Center. 36. Efficiency Rating. THIS SECTION HAS BEEN INTENTIONALLY OMITTED. 37. Confidentiality. THIS SECTION HAS BEEN INTENTIONALLY OMITIED. 38. Signs. At the termination of the Due Diligence Period Seller herewith grants to Purchaser the right to place a sign on the Property, conforming in all respects with the requirements of the City of Boynton Beach, advertising the Purchaser's forthcoming business venture. IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the dates set forth below. PURCHASER By: FLORIDA REALTY, INC. o ~;:?"",- ) , 20 Witnesses: SELLER: S ELl-e.r<.: ~;1/f uil-~~~ OSEPH TACXnO tl~ ~ Date of Execution by Seller !7-/..l--ZJ/ The Escrow Agent named in this Agreement hereby acknowledges receipt of a fully executed copy of this Agreement as of the date set forth below. In addition, the Escrow Agreement agrees to hold and disburse the Deposit in accordance with the terms of this Agreement and with the General Conditions of Escrow Agent attached hereto. ecution A-9. Agent 7--yrtJ / 21 .' CONFIRMATION OF CONTRACT We confirm and acknowledge the validity and terms and conditions of the Purchase and Sale Agreement dated July 16, 2001 by and between August and Joseph Vultaggio ("Seller") and Dynamic Doughnuts Florida Realty, Inc., (or its assign) a Florida corporation ("Purchaser"). ,/~/ ~ / ~ ANTHONY MANNINO, TRUSTEE/ rpJ)~ gf> 1J~~eJP/ PIETRA LoPICCOLO Dated: o )..00 J P,\WPSO\Vultaggio\Confirm-K.wpd PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made this ~ day of July, 2001, by and between Salvador H. Sentmanat and Norma T. Sentmanat, ("Seller"), residing at 633 N,W, 1st Avenue, Boynton Beach, Florida 33426, and Dynamic Doughnuts Florida Realty, Inc" (or its assign) a Florida corporation ("Purchaser"), having offices at 4225 Genesee Street, Buffalo, New York 14225, 1, Sale of Property. Subject to termination during the Due Diligence Period (see Section 11) Seller agrees to sell and convey to Purchaser and Purchaser agrees to purchase and acquire from Seller, the property located in Palm Beach County, Florida, consisting of the real property described on Exhibit "A" attached hereto, including all improvements located thereon, subject to the provisions of Section 39 (collectively, the "Property") upon the terms and conditions set forth below, 2. Appurtenant Rights. Included in the purchase and the sale are all of Seller's right, title and interest in and to the following (subject, however, to the "Permitted Encumbrances", as hereinafter defined below) : (a) all easements, rights-of-way, streets and other appurtenances to the Property, 3. Purchase Price, Payment, and, Deposit. (a) The purchase price (the "Purchase Price") is Two Hundred Fifty Thousand U.S, Dollars ($250,000,00), subject to the adjustments and prorations specified below, The Purchase Price will be paid as follows: (1) On the "Effective Date" of this Agreement (defined below) Purchaser shall pay to Sussman Realty, lnc, ("Escrow Agent") the sum of $5,000,00 ("Deposit") which is to be held and applied as hereinafter provided; and (2) At the time of Closing, Purchaser shall pay the balance of the Purchase Price to Seller subject to the adjustments provided for herein, (b) If Purchaser elects to terminate this Agreement under Sections 11 or 12 or if Seller defaults under this Agreement, then the Deposit will be returned to Purchaser, The balance of the cash to close, subject to adjustments and prorations must be paid to Seller at Closing by wire transfer of immediately available Federal funds to such bank account as has been designated by Seller or by such other manner of payment as may be directed by Seller, (c) Purchaser's obligations are subject to the Due Diligence Period described in Section 11, (d) Purchaser's obligations are subject to Zoning Change and Approval Period described in Section 12, (e) "Effective Date" means the date on which this Agreement is signed by the Seller and delivered to Purchaser, 4, Title. (a) Seller agrees to deliver by proper special warranty deed, and Purchaser agrees to accept, title to the Property, free and clear of all liens, encumbrances and matters other than the Permitted Encumbrances, The Permitted Encumbrances are: 2 (i) ordinances and other requirements of any applicable governmental authority; (ii) the lien of taxes and assessments for the calendar year of the Closing and all subsequent years; restrictions and matters appearing on the plat of the Property or otherwise common to the subdivision of which the Property is a part; public utility easements, so long as same does not encroach upon the current building structure; (v) matters shown on the "Commitment" (defined below) which are accepted or deemed accepted by (iii) (iv) (vi) (vii) Purchaser; matters incurred by Purchaser; and the Permitted Exceptions as set forth on Exhibit "B", (b) Within ten (10) days of the Effective Date, Seller or its agent, shall deliver or cause to be delivered to the Purchaser a commitment for owner's title insurance ("Commitment") issued by Chicago Title Insurance Company ("Title Company") in the amount of the Purchase Price setting forth the status of the title of the Property, together with all instruments listed as exceptions to the Commitment, The Seller shall pay for all costs of the Commitment and Owner's Policy and the Commitment and Seller's agent shall issue 3 Policy, (c) Within fifteen (15) days after the Effective Date, Seller shall provide the Purchaser with the copy of the latest survey of the Property which it possesses, If it requires an updated survey, Purchaser may have the Property surveyed and certified by a registered Florida surveyor at its expense, (d) If, during the Due Diligence Period, Purchaser finds title to the Property to be subject to matters other than the Permitted Exceptions, or if the survey shows any encroachments or title defects (other than Permitted Exceptions), then Purchaser shall notify Seller, in writing, during the Due Diligence Period, specifying the defect(s), If any defect(s) render title unmarketable, then Seller will have sixty (60) days from receipt of notice to remove the defect(s), If Seller fails to remove the defects, or obtain affirmative title insurance coverage, then Purchaser, as its sole remedy for such failure, may, within five (5) business days after expiration of the sixty (60) day period, deliver notice to Seller demanding a refund of the Deposit, whereupon this Agreement will terminate and the parties will have no further obligations to one another, other than those which are stated to survive the termination of this Agreement, If Purchaser fails to so notify Seller, then Purchaser will be deemed to have elected to proceed to Closing and the unresolved title defect(s) will be deemed Permitted Exceptions, 5, Closing. Unless extended by the terms of Section 4, the 4 closing of the purchase and sale of the Property (" Closing") will take place at a place in Palm Beach County, Florida, at a place designated by Seller, the later of December 1, 2001, or forty five (45) days following the official date that Zoning Change and Approvals are obtained by Purchaser (the "Closing Date"); but in no event shall Closing take place any later than March 18, 2002, unless mutually agreed to in writing between Purchaser and Seller, 6, Prorations and the Adjustments. (a) Municipal improvement liens or other assessments where the work has been completed or has physically commenced as of Closing (certified liens), shall be paid by Seller at Closing, Municipal improvement liens or other assessments which have been authorized but where the work has not commenced as of Closing (pending liens) shall be assumed by Purchaser. (b) As of midnight on the day before the Closing Date: Real and personal property taxes (which include all recurring assessments and levies by governmental authorities or special districts) will be prorated on the basis of the current year's taxes, If Closing occurs before the amount of current taxes has been determined then those taxes will be apportioned upon the basis of the taxes for the most recent calendar year available, and a tax re-proration agreement will be incorporated into the Closing Statement, If any expenses are not known, then such expenses will be estimated and, once the amounts are known, either party may request an adjustment, If neither party requests an adjustment within 5 thirty (30) days after the Closing Date, then the prorations made at the Closing will be final, 7, Closing Procedure and Documents. (a) At the Closing, and simultaneously with the payment of the Purchase Price to Seller, Seller must deliver, or cause to be delivered to Purchaser, the following items: (i) a Special Warranty Deed (the "Deed") conveying fee simple title to the Property, subj ect to the Permitted Encumbrances and the matters referred to on the Commitment, which is acceptable to Purchaser; (ii) a FIRPTA affidavit; (iii) an affidavit in the form required by the title company, to delete the standard printed exception relating to the "gap" and to remove the standard printed exceptions for construction liens; and (iv) an endorsement to the Commitment deleting the "gap" exception, the exceptions for construction liens and rights of parties in possession, the survey exception (if a current survey is provided) (except to the extent such survey matters constitute Permitted Exceptions) and the Schedule [-1 requirements, (b) At Closing, and simultaneously with the delivery to the Purchaser of the items set forth in paragraph (a). Purchaser must deliver the cash to close, to Seller, in 6 accordance with Section 3, (c) At Closing, Seller and Purchaser must execute and deliver to each other a Closing Statement in customary form, and, if necessary, a tax re-proration agreement. (d) At Closing, Seller will terminate any contracts it may have entered into providing for continuing services to the Property, 8, Closing Expenses. Seller shall bear the expenses for state documentary stamps required to be affixed to the Deed. Seller will bear all costs relating to the Commitment and the owner's title policy to be issued in accordance with the Commitment, The cost of recording the Deed, the Survey (if prepared) and all of the expenses and fees in connection with any mortgage or financing obtained by Purchaser in connection with the Property, will be borne by Purchaser. Each party will bear the expense of its legal counsel, 9. Broker. The Seller and Purchaser represent that the only broker involved with this transaction is Sussman Realty, Inc" 1499 West Palmetto Park Road, Boca Raton, Florida 33486, Broker will be entitled to receive a commission from Seller if, as, and when the transaction closes pursuant to a separate agreement between Seller and Broker, Each party hereto agrees to hold the other harmless from the claims of any other broker claiming to have dealt with the indemnifying party in connection herewith, This indemnification shall survive the Closing or termination hereof, 10, Risk of Loss. THIS SECTION HAS BEEN INTENTIONALLY 7 OMITTED, 11, Due Diligence Period. (a) The Due Diligence Period is that period of time commencing on the Effective Date and expiring at 5:00 p,m, on the date that is forty-five (45) days later, except that the Due Diligence Period shall be extended to the date that is seventy-five (75) days after the Effective Date if Purchaser determines that a Phase II Environmental Report is necessary and provides notice to Seller of its intention to obtain a Phase II Environmental Report before the expiration of forty- five (45) days after the Effective Date, During the Due Diligence Period Purchaser may investigate title, as provided in Section 4, and may obtain a Phase I Environmental Report and/or a Phase II Environmental Report (the "Environmental Report") with respect to the Property; such report shall be certified to the Seller, Purchaser and its representatives must take reasonable precautions so that any inspections of the Property incident to the Environmental Report cause no damage to the Property, Any entry made on the Property by Purchaser or its representatives must be upon reasonable notice to Seller and at reasonable times and at the sole risk of Purchaser, Purchaser shall indemnify and hold Seller harmless from losses, claims, liabilities, actions, demands, costs, and expenses, including reasonable attorney and paralegal fees and expenses, arising from or in connection with any such Environmental Report, including any entry upon 8 the Property by agents or contractors of Purchaser or their sub-agents or sub-contractors, Purchaser must pay for the Environmental Report performed on or in connection with the Property and must not permit the creation of any lien in favor of any party, (b) Purchaser's indemnity obligations under this Section will survive the Closing or the termination of this Agreement, The Deposit will serve as a guaranty of Purchaser's indemnity and undertakings under this Section 11, and Seller is hereby authorized by Purchaser to apply the Deposit or any part thereof to satisfy those obligations upon written demand from Seller, (c) Purchaser may terminate this Agreement at any time during the Due Diligence Period if, for any reason, Purchaser determines that the Property is unsatisfactory to Purchaser for its desired use by giving written notice ("Termination Notice") to Seller, This Agreement may also be terminated by Purchaser because of title defects which are not corrected during the period provided in paragraph 4 (d) hereof, If Purchaser properly terminates this Agreement, then the Deposit shall be promptly returned to Purchaser, and upon such repayment, this Agreement will terminate, other than those provisions, which are stated to survive the termination of this Agreement. TIME IS OF THE ESSENCE FOR THE PURPOSES OF THIS SECTION WITH RESPECT TO PURCHASER'S RIGHT TO TERMINATE THIS AGREEMENT, 9 (d) If Purchaser fails to deliver the Termination Notice to Seller by 5:00 p,m, on the last day of the Due Diligence Period as provided in paragraph 11 (a), or as provided in Section 4 (d) hereof, then, except upon Seller's failure and refusal to close, and Purchaser's election to do so, Purchaser will be deemed to have waived any right to terminate this Agreement under this Section, 12. Condition Precedent: The Purchaser's Purchase of the Subject Property shall be expressly conditioned upon its receipt of an approval for a change of zoning of the Subject Property from R2 (Multi-family) to C-2 (Neighborhood commercial) from all required local and state governmental authorities ("Zoning Change") along with its receipt of all necessary approvals (city and state) which shall allow for the Purchaser's construction and operation of a fast food restaurant of approximately 4500 'square feet consisting of a drive thru which are satisfactory to allow the operation of a franchised restaurant as selected by Purchaser ("Approvals"), Purchaser shall be responsible for the cost and expense of obtaining said Zoning Change and Approvals, Said Zoning Change and Approvals required by Purchaser with regards to the Subject Property shall be directly related to and in direct connection with Purchaser's application regarding the adjacent property ("Adjacent Property") which Adjacent Property and Subject Property shall be combined together and become the Purchaser's over-all application. It is understood and agreed between the parties that said Zoning Change and Approvals must be received on or before December 1, 10 2001, In the event Purchaser does not receive Zoning Change and Approvals by this date as a result of delays caused beyond its reasonable control, and provided that Purchaser has diligently prosecuted such Zoning Changes and Approvals, it shall be provided with up to an additional 60 days to receive such Zoning Change and Approvals, Purchaser agrees to use its best efforts to diligently Pursue said Zoning Change and Approvals and keep Seller advised as to its progress, In the event that Purchaser fails to obtain Zoning Change and Approvals on or before 12:00 AM, January 31, 2002, this Agreement shall terminate and the Purchaser shall receive its Deposit back in full, 13. Purchase of Adjacent Property by Purchaser: Purchaser represents that simultaneous with the execution of this Agreement, it is entering into a Purchase and Sale Agreement with the Adjacent Property owner to purchase said Adjacent Property, It is the sole intention of the Purchaser to purchase and utilize the Adjacent Property in connection with its proposed site plan and development of the restaurant, and in order to meet certain requirements related to the necessary Approvals to be obtained as a condition of this Agreement, 14. Seller Cooperation: Seller agrees to fully cooperate with Purchaser and its agents with respect to the signing of applications, permits, approvals, etc, which may be required to obtain Zoning Change and Approvals provided that none of which will irrevocably encumber or bind the Subject Property in the event that Purchaser fails to close. 11 15, Condition of Property: Except as specifically set forth in this Agreement, Seller makes no representations or warrant ies expressed or impl ied, wi th respect to the qual i ty, physical condition, expenses, legal status, zoning, value, utility or potential of the Property; or any other matter or thing affecting or relating to the Property, or to this Agreement (including, without limitation, warranties of merchantability and/or fitness for a particular purpose) which might be pertinent in considering whether to purchase the Property or to make and enter into this Agreement, and Purchaser acknowledges that, except as provided in this agreement, no such representations or warranties have been made or relied upon, Seller is not liable or bound in any manner by any warranties, either express or implied, guaranties, or any promises, statement, representations of information pertaining to the Property or the value thereof made or furnished by any employee, servant, broker or other person representing or purporting to represent Seller, the Seller's liability being strictly limited to the express representations and warranties set forth in this Agreement, If it elects to purchase the Property, then Purchaser is acquiring it "AS IS, WHERE IS" AND "WITH ALL FAULTS". 16, Seller's Warranties. To induce Purchaser to enter into this Agreement, Seller makes the following representations and warranties which are true as of the Effective Date and shall be true as of the Closing Date but which shall not survive Closing: (a) Seller represents that they have full right and 12 authority to enter into this Agreement and sell the Property, and that, as of the date hereof, Seller has received no notices of violations by any governmental agency having jurisdiction over or affecting the Property, (b) Seller has no actual notice of any suits, actions or proceedings pending or, to the best of Seller's knowledge, threatened, against or affecting the Property, or the transactions contemplated herein, and Seller is not in default with respect to any judgment, order, writ, injunction, rule or regulation of any court or governmental agency or commission to which Seller is subject in any way affecting the Property, or the transactions contemplated herein, (c) Seller has no actual notice of any pending or threatened legal or administrative proceedings relative to condemnation, or other taking by governmental authority, of all or any portion of the Property, (d) Seller is not a "foreign person" as that term is defined in Section 1445(f) (3) of the Internal Revenue Code, 17, Prohibition of Recording. Purchaser may not record this Agreement, If Purchaser (or any agent or representative of Purchaser) attempts to record this Agreement or any memorandum hereof or any reference hereto in the public records, then Seller may terminate this Agreement by notice to Purchaser. If Seller terminates this Agreement under this Section, then Seller shall retain the Deposit and the parties will be relieved of any further liability or obligation under this Agreement (except as otherwise 13 specifically provided herein) , 18, Default. (a) If, after the termination of the Due Diligence Period, and upon Purchaser's receipt of Zoning Change and Approvals, Purchaser defaults in the payment of the Purchase Price or otherwise fails or refuses to close on the purchase of the Property, without the fault of Seller and without a failure of title, then Seller will be entitled to retain the Deposit, as its sole remedy and as full and agreed upon liquidated damages, consideration for the execution of this Agreement, and in full settlement of Seller's claims against Purchaser, the parties acknowledging that the actual damages of Seller would be impossible to determine and, thereupon, the parties will be relieved of all further obligations under this Agreement except for those provisions specified to survive the termination of this Agreement, (b) If Purchaser has satisfied its obligations pursuant to this Agreement, but Seller fails or refuses to close on the sale of the Property, then Purchaser may, either (i) receive a full refund of the Deposit; (ii) sue Seller for specific performance of this Agreement; (iii) bring suit against Seller for any damages incurred by Purchaser because of the default by Seller, 19. Survival. Except as specifically provided otherwise herein, all covenants, terms, provisions, representations and warranties set forth in this Agreement, will be merged into Deed at Closing, 20, Counterparts. This Agreement may be executed in one or 14 more counterparts, each of which is an original but all of which, together, constitute one and the same agreement, 21. Time of Essence. TIME IS OF THE ESSENCE ON THE PART OF EACH PARTY PERFORMING ALL OF THE TERMS, CONDITIONS AND COVENANTS TO BE PERFORMED UNDER THIS AGREEMENT, 22. Modification Must Be in Writing. Any modification of this Agreement will be invalid unless executed in writing and signed by the applicable duly authorized representatives of Seller and Purchaser, 23, No Waive. Except as otherwise provided in this Agreement, no waiver of any provision of this Agreement will be effective unless it is in writing and signed by the party against whom it is asserted, and any such written waiver will only be applicable to the specific instance to which it relates and will not be deemed to be a continuing or future waiver, 24, Captions and Section Headings. Captions and Section headings contained in this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope or intent of this Agreement, nor the intent of any provision thereof, 25, Exhibits. All of the exhibits attached hereto are incorporated herein by reference and form part of this Agreement for all purposes, For convenient reference, the following list briefly describes the exhibits to this Agreement: Exhibit "A" - Legal Description 15 Exhibit "B" - Permitted Exceptions Exhibit -'C"- Adjacent Property Agreement 26, Assignability; Binding Effect. Provided that Purchaser remains liable to Seller according to the terms of this Agreement, Purchaser may assign its rights pursuant to this Agreement, This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal representatives, successors and assigns, 27, Attorneys' Fees. In the event of any litigation arising out of or connected in any manner with this Agreement, the nonprevailing party must pay the costs of the prevailing party, including its reasonable attorney and paralegal fees and expenses incurred in connection therewith through and including the costs of any appeals and appellate costs relating thereto, This Section 27 will survive Closing or the termination of this Agreement, 28, Notices. All notices, offers, acceptances, rejections, consents, requests and other communications under this Agreement shall be in writing and will be deemed to have been given (i) when delivered in person, or (ii) when sent by first class certified or registered mail, postage prepaid, return receipt requested, or (iii) on receipt, after being sent by U,S. Express Mail or a reputable delivery service guaranteeing overnight delivery, All notices must be addressed as follows unless the person has given notice of a new address: If to Purchaser: Dynamic Doughnuts Florida Realty, Inc. 4225 Genesee Street 16 Buffalo, New York 14225 Att: Christopher J, D'Angelo, Vice President With copy to: Dynamic Doughnuts Florida Realty, Inc, 2499 Glades Road, Suite 106 Boca Raton, FL 33431 Att: James A, Cosentino, President With an additional copy to: Martin B, Farber, Esq, 5820 Main Street Williamsville, New York 14221 If to Seller: Salvador H, Sentmanat and Norma T, Sentmanat 633 N.W. 1st Avenue Boynton Beach, Florida 33426 With copy to: Jeffrey A, Levine, P.A. 900 North Federal Highway Boca Raton, Florida 33432 If to Escrow Agent: Sussman Realty, Inc. 1499 West Palmetto Park Road Suite 314 Boca Raton, Florida 33486 29, Waiver of Strict Construction against Drafting Party. If any provision of this Agreement is subj ect to judicial interpretation, the court interpreting or considering such provision may not apply the presumption or rule of construction that the terms of this Agreement be more strictly construed against the party which itself or through its counselor other agent prepared the Agreement, as all parties hereto have participated in the preparation of the final form of this Agreement through review by their respective counsel and the negotiation of changes in language I in any provision deemed unsuitable or inadequate as initially written; and, therefore, the application of such presumption or rule of construction would be inappropriate and 17 contrary to the intent of the parties, 30, Interpretation. If anyone or more of the provisions of this Agreement is invalid, illegal or unenforceable in any respect, the validity of the remaining provisions will not be affected, prejudiced or disturbed thereby, The use of any gender includes all other genders, The singular includes the plural, and vice versa, Use of the words "herein," "hereof," "hereunder" and any other words of similar import refer to this Agreement as a whole and not to any particular article, section or sub-section of this Agreement unless specifically noted otherwise in this Agreement. 31. Governing Law and Jurisdiction. This Agreement will be governed by, construed and enforced in accordance with the laws of the State of Florida. The venue of any action hereunder shall be Palm Beach County, Florida, 32, Third Parties. This Agreement does not confer in favor of any third parties any rights whatsoever as third-party beneficiaries, the parties hereto intending by the provisions hereof to confer no such benefits or status, 18 33, Calculation of T~e Periods. Unless specifically provided otherwise, whenever this Agreement calls for or contemplates a period of time for the performance of any term, provision or condition of this Agreement, all of the days in such period of time must be calculated consecutively without regard to whether any of the days falling in such period of time is a Saturday, Sunday or other non-business day; provided, however, that if the last day of any such time period falls on a Saturday, Sunday or other non-business day, then the last day will be extended to the next succeeding business day, The term "business day" as used in this Agreement shall mean Monday through Friday, excluding holidays when the Federal Reserve System is closed, 34, Contract Not an Offer. This Agreement will not be binding on Seller or Purchaser nor will Seller have any obligation to Purchaser unless and until Seller executes a copy of this agreement and thereafter unconditionally delivers it to Purchaser on or before July 10, 2001 - 5 p,m, 35, Radon Gas Notification. In accordance with the requirements of Section 404.056(8), Florida Statutes the following notice is hereby given: RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over t~e. Levels of radon that exceed federal and state guidelines have been found in buildings 19 in Florida. Additional information regarding radon and radon testing may be obtained from your local County Public Health Center. 36, Efficiency Rating. THIS SECTION HAS BEEN INTENTIONALLY OMITTED, 37, Confidentiality. THIS SECTION HAS BEEN INTENTIONALLY OMITTED, 38, Signs. THIS SECTION HAS BEEN INTENTIONALLY OMITTED. 39, Removal of Existing Building. Purchaser and Seller agree that Seller is granted the right, but does not have the obligation, to remove the existing building from the Property at Seller I s expense, In the event that Seller desires to remove the existing building, Seller shall do so within seven (7) days after closing, Seller shall be responsible for all costs and expenses of removing the building and shall have full liability related to the removal of the existing building, Seller shall obtain liability insurance with limits of not less than $1,000,000.00 and name Purchaser as a loss payee on such policy, for the period until the existing building is moved, 20 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the dates set forth below, PURCHASER DOUGHNUTS FLORIDA REALTY, INC. ~ By: SELLER An-iZ/ /J ~i;;.JP~ ~ALVADOR H, S~NTMANAT ~C~loJ LJ::;r/-1~Clt N RMA T, SENTMANAT Date of Execution by Seller The Escrow Agent named in this Agreement hereby acknowledges receipt of a fully executed copy of this Agreement as of the date set forth below, In addition, the Escrow Agreement agrees to hold and disburse the Deposit in accordance with the terms of this Agreement and with the General Conditions of Escrow Agent attached hereto, E ecution by Escrow Agent -:;J.ff-t!'J/ 21 OWNER'S TITLE INSURANCE POLICY Attorneys' Title Insurance Fund, Inc. ORlANDO, FLORIDA SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONTAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, ATTORNEYS' TITLE INSURANCE FUND, INC., a Florida corporation, herein called The Fund, insures, as of Effective Date of policy shown in Schedule A. against loss or damage, not exceeding the amount of insurance stated in Schedule A. and costs, attorneys' fees and expenses which The Fund may become obligated to pay hereunder, sustained or incurred by the insured by reason of: 1, Title to the estate or interest described in Schedule A being vested otherwise than as stated therein; \ 2, Any defect in or lien or encumbrance on such title; 3, Lack of a right of access to and from the land; or 4, Unmarketability of such title, In Witness Whereof, ATTORNEYS' TITLE INSURANCE FUND, INC. has caused this policy to be signed and sealed as of the date of policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory, ......-"..;NSU'..'.,,,, ~" ,...."" .......ott;:"'Io'" l'''o; .... .....~~~ !~.""(,.~{."."t\ i:: ..__ ":2; ,". SEAL PI \~~. . .............". >!/ ~""" ,l);0R10"...'.'. ..."..MII"..... Attorneys' Title Insurance Fund, Inc. BY~~' Charles J. Kovaleski President SERIAL ISSUED BY OPM. 187983 JAMES J. KlRAN '-.. Fl.NO FORM OPM/~ FUND OWNER'S FORM Policy or Guarantee No,: OPM-187983 Effective Date: J~ 4, 1988 at 3,49 p.m. SCHEDULE A M.mber's File Reference: YOST/SENnWlAT Amount of Insurance: S 97,500.00 I. Name of Insured: SALVAOOR H, SEN'1MANAT and IDRMA, T. SEN'lMANAT, his wife 2, The estate or interest in the land described herein and which is covered by Ihis policy or guarantee is a fee simple (if other, specify same> and is at Ihe effective date hereof vesled in the named insured as shown by instrumenl recorded in Official Records Book 5534 . Page 1373 , of Ihe Public Records of Palm Beach Counly. Florida. 3, The land referred to in this policy or guarantee is described as foUows: The easterly 10 feet of Lot 10, all of Lot 11, the Westerly 15 feet of Lot 12, and that portion of Lot 8 and the westerly 15 feet of Lot 7 lying southerly of State Road 804 right-of-way, Block 2, U\KE BOYNl'CN ESTAmS PLAT 1, recorded in Plat Book 13, Page 32, Public Records of Palm Beach Cotmty, Florida. ISSUED BY JAMES J. M>RAN (Attorney or Firm of Attorneys) 6790 MEMBER NO, , Flo,..., 33435 fZip) 630 F...."t Ocean Ave.. P.O. Dr_r 10 (Miiling Address) FUND Fotm OG/OP/0PM-SCH A (Rev 1177) (811518" 80M) . ,. '"'-' ". SCHEDULE B ,Policy or Guarantee No.: OPM-187983 This policy or guarantee does not insure against loss 01 damage by reason of the following exceptions_. 1. Taxes for the year of the effective date of this policy or guarantee and taxes or special assessments which are not shown as existing liens by the public records. 2. Rights or claims of parties in possession not shown by the public records. 3, Encroachments, overlaps, boundary line disputes, and any other mailers which would be disclosed by an accurare survey and inspection of the premises. 4. Easements or claims of easements not shown by the public records. S. Any lien. or right to a lien, for services, labor. or material heretofore or hereafter furnished, imposed by law and not shown by the public records, 6, Easements, set-back lines and other matters shown on the Plat of Lake Boynton Estates Plat 1, recorded in Plat Book 13, Page 32, Public Records of Palm Beach County, Florida. 7. Reservations of the Trustees of the Internal Inprovement Fund of the State of Florida as set forth in inst:r\JlIalts recorded in Deed Book 814, Page 49, and Deed Book 765, Page 194, Public Records of Palm Beach County, Florida. 8. MJrtgage bearing date the 1st day of May. 1987 I from ROBERT L. YOST I a nmri.ed man, to MARK J, BRIssrn, securing promissory note in the original principal aIIDUllt of $74,000.00, filed on May 5, 1987, and recorded in Official Record Book 5267, Page 329, Public Records of Palm Beach County I Florida. 9. Purchase MJney Second MJrtgage fran SALVAOOR H. SENIMANAT and ~ T. SENIMANAT, his wife, to ROBERT L. YOST, securing prcmissory note in the original principalaIlDUllt of $20,000.00 dated Decenber13, 1987 and recorded January 4, 1988, in Official Record Book 5534, Page 1374, Public Records of Palm Beach County, Florida. 10, Any nen provided bY Ch. 159, Fla, Slat. In favor of any mu- nicipality or authortty for un- oald charges for servtee. by any water, sewer or gas sys. tem to the land described herein. FUND Form OG/oP/OPM-SCH. B (R..... II") (5/85 DSt 5OM.) Conditions and Stipulations 1. Definition of Terms The following terms when used in this policy mean: (a) "insured": the insured named in Schedule A, and, subject to any rights or defenses The Fund may have had against the named insured, those who succeed to the interest of such insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant": an insured claiming loss or damage hereunder. (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of any public records. (d) '1and": the land described, specifically or by reference in Schedule A, and improvements affixed thereto which by law constitute real property; provided, however, the term '1and" does not include any property beyond the lines of the area specifically described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (e) "mortgage": mortgage, deed oftrust, tnIst deed, or other security instrument. (0 "public records": those records which by law impart constructive notice of matters relating to said land. 2. Continuation of Insurance After Conveyance of Title The coverage of this policy shall continue in force as of Effective Date of policy in favor of an insured so long as such insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; provided, however, this policy shall not continue in force in favor of any purchaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured, 3, Defense and Prosecution of Actions - Notice of Claim To Be Given by an Insured Claimant (a) The Fund, at its own cost and without undue delay, shall provide for the defense of an insured in all litigation consisting of actions or proceedings commenced against such insured, or a defense interposed against an insured in an action to enforce a contract for a sale of the estate or interest in said land, to the extent that such litigation is founded upon an alleged defect, lien, encumbrance, or other matter insured against by this policy. (b) The insured shall notify The Fund promptly in writing (i) in case any action or proceeding is begun or defense is interposed as set forth in (a) above, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest as insured, and which might cause loss or damage for which The Fund may be liable by virtue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as unmarketable, If such prompt notice shall not be given to The Fund, then as to such insured all liability of The Fund shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case prejudice the rights of any such insured under this policy unless The Fund shall be prejudiced by such failure and then only to the extent of such prejudice. (c) The Fund shall have the right at its own cost to institute and without undue delay prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest as insured, and The Fund may take any appropriate action under the terms ofthis policy, whether or not it shall be liable thereunder, and shall not thereby concede liability or waive any provision of this policy. (d) Whenever The Fund shall have brought any action or interposed a defense as required or permitted by the provisions of this policy, The Fund may pursue any such litigation to final determination by a court ofcompelent juris- diction and expressly reserves the right in its sole discretion. to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires The Fund to prosecute or provide for the defense of any action or proceeding, the insured hereunder shall secure to The Fund the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit The Fund to use, at its option. the name of such insured for such purpose, Whenever requested by The Fund, such insured shall give The Fund all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining wit- nesses, or prosecuting or defending such action or proceeding, and The Fund shall reimburse such insured for any expense so incurred. 4, Notice of Loss - Umiution of Action In addition to the notices required under paragraph 3 (b) of these Conditions and Stipulations, a statement in writing of any loss or damage for which it is claimed The Fund is liable under this policy shall be furnished to The Fund within 90 days after such loss or damage shall have been determined and no right of action shall accrue to an insured claimant until 30 days after such statement shall have been furnished. Fail- ure to furnish such statement of loss or damage shall terminate any liability of The Fund under this policy as to such loss or damage. 5, Options To Payor Otherwise Settle Claims The Fund shall have the option to payor otherwise settle for or in the name of an insured claimant any claim insured against orto terminate all liability and obligations of The Fund hereunder by paying or tendering payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred up to the time of such payment or tender of payment, by the insured claimant and authorized by The Fund, 6, Determination and Payment of Loss (a) The liability of The Fund under this policy shall in no case exceed the least of: (i) the actual loss of the insured claimant; or (ii) the amount of insurance stated in Schedule A, (b) The Fund will pay, in addition to any loss insured against by this policy, all costs imposed upon an insured in litigation carried on by The Fund for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorization of The Fund, (c) When liability has been definitely fixed in accordance with the conditions of this policy, the loss or damage shall be payable within 30 days thereafter, 7, Umiution of liability No claim shall arise or be maintainable under this policy (a) if The Fund, after having received notice of an alleged defect, lien or encumbrance insured against hereunder, by litigation or otherwise, removes such defect, lien or eneum. brance or establishes the title, as insured, within a reasonable time after receipt of such notice; (b) in the event of litigation until there has been a final determination by a court of compe- tent jurisdiction. and disposition of all appeals therefrom. adverse to the title, as insured, as provided in paragraph 3 hereot or (c) for liability voluntarily assumed by an insured in settling any claim or suit without prior written consent of The Fund, CONDmONS AND STIPULATIONS (continued on reverse sidel CONDmONS AND STIPULATIONS (continued) 8, Reduction of Liability All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto. No payment shall be made ,.,thout producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of The Fund, 9, Liability Noncumulative It is expressly understood that the amount of insurance under this policy shall be reduced by any amount The Fund may pay under any policy insuring either (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy or (b) a mortgage hereafter executed by an insured which is a charge or lien on the estate or interest described or referred to in Schedule A. and the amount so paid shall be deemed a pay- ment under this policy. The Fund shall have the option to apply to the payment of any such mortgages any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner. 10, Apportionment If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of said pareels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Effective Date of policy of each separate pareelto the whole, exclusive of any improvements made subsequent to Effective Date of policy, unless a liability or value has otherwise been agreed upon as to each such parcel by The Fund and the insured at the time of the issuance of this policy and shown by an express state- ment herein or by an endorsement attached hereto. 11, Subrogation Upon Payment or Settlement Whenever The Fund shall have settled a claim under this policy, all right of subrogation shall vest in The Fund unaffected by any act of the insured claimant. The Fund shall be subrogated to and be entitled to all rights and remedies which such insured claimant would have had against any person or property in respect to such claim had this policy not been issued, and if requested by The Fund, such insured claimant shall transfer to The Fund all rights and remedies against any person or property necessary in order to perfect such right of subrogation and shall permit The Fund to use the name of such insured claimant in any transaction or litigation involving such rights or remedies. If the payment does not cover the Joss of such insured claimant, The Fund shall be subrogated to such rights and remedies in thepropor- tion which said payment bears to the amount of said loss, If loss should result from any act of such insured claimant, such act shall not void this policy, but The Fund, in that event, shall be required to pay only that part of any losses insured against hereunder which shall exceed the amount, if any, lost to The Fund by reason of the impairment of the right of subrogation, 12. Liability limited to This Policy This instrument together with all endorsements and other instruments, if any, attached hereto by The Fund is the entire policy and contract between the insured and The Fund, Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby arany action asserting such claim, shall be restricted to the provisions and conditions and stipulations of this policy, No amendment of or endorsement to this policy can be made except by writing endorsed hereon or attached hereto signed by either the President, a Vice President, or agent of The Fund, 13, Notices, Where Sent All notices required to be given The Fund and any state- ment in writing required to be furnished The Fund shall be addressed to its principal office at 32 West Gore Street, Post Office Box 2671, Orlando, Florida 32802. About your policy, , , This policy provides valuable title protection. You should keep Jt In a safe place 'vVhere it will be readily available for future reference. There is no recurring premium. ~ .... !:to ~ 0 ~~ :j ::<:l [::l II ~ "tl t'T1 0 B ~aO 0 ~ ~ ~~~ t- .... .,., (') ~ t'T1 r- :;.:, 0 "< ~ n~ v) ~ ~C/) "'!1 .. (') 5 t'T1 ~ IU, \"IM.IVb\l Hn.VU<.._....... -''''''V'^' ..,,~tlll.JI.NJ ~ ~J~ES J. MORAN, ESQ. ". REED, GRIFFITH & MOR POST OFFICE DRAWER lu BOYNTON BEACH, FL 33425 "'DHD ,DIlM "AMCO "O"JoII ,,~. slrumenl Prepared by: JAMES J. MORAN , REED, GRIFFITH & MORAN POST OFFICE DRAWER 10 BOYNTON BEACH, FL 33425 I j ; I i J r Appralserl Parcel Identlllclllon (Folio) Humber(I): SPACE "lOVE THlllINE fM RlCOROING DATA litis mortgage Iced Execul(!(l,/lll thirtieth Jay o{ December, A. D. 1987, Ly SALVADOR H, SENT~\NAT and NORMA T. SENTMANAT, his wife, Ilerelnaller called die marloaO'or, 10 ROBERT L. YOST 'ler(lhlCl!'er callo,l"lo mor'{I"oe.: IWhtr~"' uwd '""hl ..... 'UIM """ol".r" ...01 .........11.,"''' hu,lu.... all Ih. pulia '0 d... I........... alld I'" Mln, 1:i~d::':,i"a:~.'~:~. a':ci:.dL:o~d'it :"':~h.:n:.:~. ...~c...... .nd ..111.' 01 -.-11_1 .... 'M Ie,. "oole' ltIltlltsstlh, dud for gooJ and 1I0luobl. cons,d.ralfoUl, ancl 01.0 In con.,eI.ralfon of ,h. aggr., gale Slim name(1 in Ihe promb.ory nol. of .lIen dale 11.,.wlll.. I..r.'naf'.r d..crib.d, .1.. mortgagor "ere. b)! grolll., borflolll', ..II.. oli.n., r.mlse., conlley' and conf'rnl' U"'O ,h. mor'90g.. 011 ,h. certa'n lonel of whlcl, tll. morlgagor I. now ..luJ onJ in po',esslon .IIua'.'n Palm Beach Counl" Florida, vb: The easterly 10 feet of Lot 10, ~ll of Lot 11, the Westerly 15 feet of Lot 12, and that portion of Lot 8 and the westerly 15 feet of Lot 7 lying southerly of State Road 804 right-of- way, Block 2, LAKE BOYNTON ESTATES PLAT 1, recorded in Plat Book 13, Page 32, Public Records of Palm Beach County, Florida. TIllS IS A PURCHASE MONEY SECOND MORTGAGE, subject and inferior to that certain first mortgage encumbering the above-described propert~ dated May 1, 1987, held by MARK J. BRISSON, filed on May 5, 1967, and recorded in Official Record Book 5267, Page 329, Public Records of Palm Beach County, Florida. Mortgagors covenant and agree to promptly pay when due all payments as they accrue upon the above- described first mortgage and, in the event of default occurring under the terms of said mortgage, then in such event, l-'lortgagee may declare the whole of the indebtedness hereby secured inunediately due and payable. THIS MORTGAGE AND TilE NOTE SECURED HEREBY ARE NOT ASSUMABLE. Mortgagors covenant and agree that if the real property encumbered hereby is sold, conveyed, transferred, encumbered or otherwise hypothecated, that this mortgage and the note which it secures shalllimmediately become due and payable in full. :/- L on" sholl p...rJorn., ("omply will, onrl ablel. Ly egd, onel el'er)' ".e agr.emenl., "'pulaUon" condlUon. and ("Ollennnls "u/reoT. culll of tI." morlgoJJl'. rlurn "1" marlnoge and ,1.. ."0'. 1..,..,1., creo'wl. .1.011 ceo.., de. h-rml". oml b. null arulllold. Ilnd ,I". morlllnDor. 111:0""")1 (urI11('" 1"01'('110111, and onr... 10 pO)l promprl, wit..,. Jue ,h. principal and '"lelr..., Gild 01111'" 11Im. of mont')' woul"..,1 for In .olcl nole onel ,,,,, morlgage, or e"'18r; 10 PQ)' all and .l""!I'Qr ""? IOXl'I, out'um..n", '('I"t'I. lial,lfw..,. 0""0011011', onf' encumbrance. of every nafure on .ald pro. p...,')'; In "t'rAdl, ('"lImmlf or 1I111er 110 was'., hnl'ofrmC'1I1 or clelerlorollon 0/ .old lanJ or II,e '",prolt.me,." 111(',..on tel nil)' 11,"1': 10 .I'I'P ,116, 11I/11,lillo' now or '''lr('ol'", on .old land fully 'n..",1I1 In 0 .urn of no' I... 1110n full insurable value In 0 company or compo'll". accel,labl,l '0 iliff rnorlgogu, 11.0 polley or pollel.. fa L. ~.Id Ly, and po)'aLI. 10. .alel mor'gaup.o, and in II" even' on)' .urn of monO'y Lecome. po)'oLl. Ly "',Iu. of .uel. In.uronc. fl.. mO"gagae ./10111.011. ,llfl r'9/11 '0 ,ocell... Olld apply ,1.. .am. 10 fl.. fnd.L,.dn.1I h....Ly ..cured, accounting 10 ,I." morlgaonr for nny ,",,,Iu.; 10 po)' all ('0.11, el.arge., and upen..., Includlnp lawye'-. f... and mi. Unrcllf'l. r"osono"'>, Incutred 0' paid Ly 1/1f! morlgage. b.callle 0/11.. /allur. 0/ ,1.. mo"g090r '0 prompd)' ondlully com,lly w.,'1 ,1111 a",pamenll, sllp1l1oflon., condillon. and cOII.nanf. of .ald nof. and ,1.1. morlgag., or eif/ll"; 10 pf'r/o"n, comlll)' will. nnd oL'de Ly eac./1 anll ..,ety tlu, oO'..menll, .UpulaUon.. condWonr and cOl'ellclflb rei lorl11 In raid no I. orul ,Ill. rrw"gag. or elll..r. 'n "I. .v.nl dl. mo"gaoor folf. '0 po)' when due flny 'ox, OUfI""If>n'. in'"rance pr"mhlm or o,11f1t lum 0/ mllfl(ly poyoLl. Ly vlr'u. of .old no'. ana ,I... morlgogtt, 0' pil/lpr, Ihe morlgagee may f'OY file Inme, wllllou' wolt/lng or a/ff/cllng .1.. opllon fo foredo.e or CUI)' o".or rl"/.1 'l(,rl'lI",/er, orul all '"1'1. pnynumfr "1011 L"or Inler." from dol. ,I..,..of III II.. 1.10'1..., low. ful ra'o "'(III allowed I..y ,1,. IlIw, of ,I" Sta'e o( Florida, It any ,um of mOil v)' I."reln r.f"tted to II. nof promp,l)' paid wUhlnfifteen(15Jo,.. nex' af'er "u, ,ome "rcome. ellie, or tf each 0011 "l'"ry ,lie agr.enl.n", "'pulollon,. conalllon. and covenan" of ,aiel nole 011,1 "I" morlgage. or elll."r. are 110' (ull,. performed. complllld wffh .ona aLld.d Ly, II..n ,I.. .nU,. .um mel1lloneclln ,alclnolll, and .11" nlOrlgofle, or fh. enUre balanc. unpaid ,h.",on, .1.011 forll.wul. or ,hvreatler. 01 Ih. opllnn 01 fhe mor'gooe.. ')(I('om. anel Le elue ana poyaLI., anylh'ng in ,old no'. or 1..'II'n 10 dill ('on'ror)' noIUJul,,'a,ullno. Folfure by IIle morlgage. '0 exvrcb. an)' of ,1.. ngh,. or oprlon. h.,,,'n pro",dPfI .1.011 nol ('ondil,,'~ II I"'oh'er 01 ony rlullll or option. un(fer ,aJa nol. or ,,,,, mor'goOIl accru.d or '''er"o/I(lr o('t'tuing. In Witness Whereof, ,1,. ,old mor'gago( 1.0' lu!teun.o "gned ond .eof"a ,I.... pr.'.nb ,luI do)' onfl y"or finl 01'0". IIIr"'pn. Signefl, .poled oncl J"llIIf'r"J In Ih. pretence of: ...SAINAi'ibR...ii'.;...SJiNTMANA'I'........................ . ............................................................................ .......................... ..NoRMA...T.;....Sii"IWMANAT............................ ..,................................................................................... STATE OF FLORIDA, COUNTY OF PALM BEACH I IIERE~Y CERTIFY th~1 on thi. d~rl bdon- IMI U olfirel" duly ,ulhorbed in the St~lr "orellid .nd In Ihe Counly ,'or,.,.id 10 I.k,. .rknowledl(nlenll. penon.ll, .ppeared SALVADOR H. SENTMANAT and NORMA T. SENTMANAT, his wife, 10 mr known 10 IJt Ihe prnon S drluibrd ia and who ruculrd Ihe forr<<oilll inllrumenl .nd they .cknowkd,rd before me Ih.1 they rxrculed Ihe lime. WITNESS my h.nd .nd olfici.1 Inl in the County .nd St.1e' 1"1 aforrllld .hl, da, of December, A. D. 1987 I .notii.ry...~ubllC';....S"tati;-...of"..Flo'i:'raa.. My Commission Expires: ( /. 11' ^ 'II'ill/' ilfld l^ 1\f^111 , 1 ,...,"', ",. /"'Il'"ll'''''. lu.".,/IIIIIIII'nh "'111 u",lIld(' Iv n. < I V nv ,,, '.""'. /"".., "., , I 1 I (I' /1,.,.,.,(. "~"~I"~ ,IIf' "IIIrh./nu",', Itl ".,. lIim,,',', /lntll'l" ,/INrl" "(lI,IItH"'f/. fill, , If' ,,'1116, 1.~!fI"'1' fill( "m I ,_ Hnd ,1". ..."""."",..,......."'"" ,,,,,,, ".. '"'''''''''''' ,"., ,,.. .'"'''''''''' ,.. ""1,.(..".",,,. ""/",' ,,/ /"'" IIHIII h. f,.,. ,'mIl"'; ,lUll I11f' nllltlnnrlnr 11n! flnorl ",,," mill '"II'(ul nur/w,IIy '0 ,'",wrY, I'nld ''',''', n.~ "tlr,' " , , ( I . , . I "Ilt' 11'f' ,'',,',',, "' I' 10 I'ni, n,," '" , 'f" !In/,'' "111/ ./u. IIIIIrlfFtl{lnr II" mnHr lllll'l mlll'r nUllrmu 1" fI ", r cor , I I I fIl"rl~,nnr(' n. tll"" rrnsonn',!)' lit. r!'"uf,.",,: IIltd "ll' "lorlfl"flnr Ill'r('I'1 (II")' lI'nrr"n" ,Ilt' lit r 10 !lnll nrlt lIIullfllll,lr("r1,1 'rllp Ill'''' ",,"hid 1/111 Infll/..1 "'nlnll of nil "ruon, ",'IOnllnl'l'rr: Rlul ,Iutl ,n"I Inlld h 'rt'(' ami rlptlr 0/ nil "rlf'lIml,rnnrf" SOt)' prDvldtd Jtlways, "ud ,/ ,(del "lorlOI'l"or .'11'111 "01 tmlo .l'Ilrl morlgng.." noh- 'Irrflhln!lf'r Jul"hllllloll)' ('opt,.el or 1(1..'lllllflrl. lo.UtIl: "If' ('"rial" prom". L.il~~;Qe~~g;~~;;;;~";;;;';;;;;~;;;;;;j";.m'... t. ." t. 'h. ~d" ., BO.Y.!.!.~,9.!.L..!!.!l,!!,g.II,~",."..P'gg~mb.~".....~..o............. IIS.7. .../ ROBERT L. YOS'r ...."................................................"..................................................,..................................................................................................................... ,... "'."." .... .1......~.~!'i,!:!:rJ....X!!.9..!!.!?A~P.....!!.!]!!....N.Qt..,!,.Q.9......::::::.::,:_:.:::.:,:::_::'_::.:::.::::::.:::.::::::.:::.:::.::.0.11". 11..2..0.,..0...0.0....0.0 .....,. tOIITh.. with Inl.mllhet.Oft 1,0fII d.I., .'th. '"'1 oIJ;tJ:.~.y..~!L.Ll~l.L..........P8t Cln!, p...J;UU~Ur.n..................................unfil maluri'" .ald 1"1.."d be,.. .."bl.....mQ!.1.!;.!!,!,Y....!:!.!J;.!1 PJ;.!.UgJp;tJ, a.~.....s P"l.g.HJ.~.!.1....k!i!J9.W..L. . bolh princiPII end In,.....t beln, "ar.bl. 'n '"wl,,1 n",..., 01 Ihe Unl'ed Slllo. ~ h. ,qul....I,"I, 81. ...2.5..5..4....l\v.enue...l\uSoleil".. ;.M.1..(.Q.t..~.e.~.m.l.....f.1Q.tir.1.~......,,3..J..4..e..3............................1nld prlncllllll I\lIn 10 be "',nblo on Ih, dale, ,nd kllhe amounl1 lpotlll,d bilow, lo.wi!: :ntire principal debt" together with accrued interest. sholl be payable in 'ne hundred eighty (18.0) equal consecutive monthly installments of $227.32 aeh, commencing Febr1Jary 1, 1988, and continuing on the 1st day of each nd every month thereafter until p':!id in full. alters reserve the privilege of prepaying all or any portion of said ndebtedness at any time without penalty. hfh mnh., end endO'I" "v....II)' w,lvII dtmllnd. plof.11 IIrwf nolk. of mellii'll" flGn.".,,,,", 01 ploled 'nd .n "qul""'''lfI "ft,.,It,.,. 10 hold ,..th of 11m IhIM, II. 1M1t'f1 llnd 'ndotl~rt. hch "".If lInd endor,1'l' f."lh" Il,U!I'. lolnll, end '~Vll'''"" 10 I'll,. nil f"ll. 01 colllldlon. lllt:ltttllno I 'UftrMhl. allMrti"'f f.. III Cft" 'h, p,lntlpnl "r ~, nol. Of ll",. Pll,,,",nl on th, tltlntlp.1 GI IIny Inl....t! 'hellon I. nol p.,ld III lhe 'e'pecllv, m.'",",. Ih"eo', 0' In Cllte fI befomel nec."....,. 10 ","oled ,h, clffl" h....o', wh..lhl!( lull 1M "'flU,hI 0' no'. "". !tOf. IInd dfll"'''d ml"." JlII'''"'!''1 .1I"n &1.'11' ""At""",,,,! Inll' "'.....1.8..%....... ....PM tf'nt, JIM' linn"'" f,_ lI'I11ll"lI, In"" pa'd. 'W. not", "clIIlId hy ,.SeC.OnCl...mot'O"p" 01 e...e" dnlll """"wllh"nd If 'II he fonllm8d.nd IInfMCI'd ACClIIdlno IlIlhelllllt'1 oIlh" S'ele 01 rlol/tla, .on delllul' In II,,, P"'mtlnl of p"nclpllI IInd/ol fnfrlel' due on 'n, nol, u~(u,ed by Illld Motl''''I, ,.n nol'l 10 ."cwad ,rid ',",lIlnln, unpaid lhall 101Ih...II" (om, d"" IInd pa"bl, nolwhhtl.ndIn, IIl1lt 'ono.. .................................................................................................................... ............................................................................................ot................... .S111'\1l1tllJr...lr;....S!!lltftI1l1l1l t .NofJilll....'l'.;....S.Hi tllia flat....... ...1'''''1 ...IStIIll __A"g-:17-01 10:52A JEFFREY A_ LEVINE. P_A. 5613921313 P.Ol ~UG-1S-.1 Ie,.. FRoM,~aLD COAST T1TLB CO RRU. JD,SQI3a2S8.e PAce ",. r~- I --.,fOUGY ~ '-.., c_" ,..,.....--..... IW He. ..1JM6 _..../11I- A...... .J."_ SCKEDULE A t. ,.., o.w .... "'. ItIS .. ,12021 2' .M. 1. 'nc''''''' ...................... IJIk to tH I'cr Ii"" at.. ... ... IIK~. leI_. ....... .. ....... ...... .. .....tw '1. n. "" __NO ta ,.. CIl6 rcJtr II "'......1 ~IO ... C"""""J "" hla ~ ..... ", n.n&a . P6 it...............: J-. ~ ...... )1. IIKk I. tAJZ ItJN(OII .... ... ... v.c 60 fMe &1M 10 ... d1 elf .I.ot. J!:. .... a. UD 'MIIIl'lB ...... B.&1' ".. .... "" . ~ .... It ....... 21. -.--. a..- .... Ie IeM ... ...c. ... IOtt ~ ..4-...., ... WS dill. .1 ....,). ~ 2. IMI_ _I.au , u.....n.._... ,............ .. rJ.d .... U. ....)2. of .. M1..I.5...... eI! hIa ... c-w. n.c:wa.. SC:HEDULC . nil,..,..... "'" ................... .,. "... eI rk r~ ~ J. r............... 1M...... '" .....,....... .. ce.. ~ ....... ....... 2.. ~ << 1IIl~." ... It ldcr ... (1___ ., wt". ...... .. --'ft....... .....-n> DOl nrar". 1. ~ . .... .... ... II .. -.-tN1 .. ... pti4 III the ,... Ita .... .............. ---.. A. ........ dIiA..l................. 5. ..~ . .... ..... _ ~ l~ ,....-.a ---'. ........ · __ ~. . ...... .... _ .. _ --at-fll ---.au ......... .... -.u .. .-r .. ...... .--. WIt...... .. .. .. A .... . .. r . ..... ... .. uu. t:AIl& .r ___ ..... 1." .. ~ ....'I................. &Moo ~ ......u. ........ ~ .... c-o.. ~ sa ... .-4....1. ~ ....,... ... .. 1111.-'" sa IIBOIt -A,- _ IQDIiJI.& ~ dDSD .... ~ .... ... pgl __I .. L ~ ..J '. -- l:I ~ elled :"d9~:& LO-9~-llnv : OLLO O~9 LOS :)lNI1 Sll3111'lilll :Ae lua' A~g-17-01 10:52A JEFFREY A. LEVINE. P.A. , 5613921313 AU~-JS-.' l.... F~OMKCOLD COAST TITLB CD 9EWV. lo.sel~a5tBII. - uan.t'f "'"u or ~ I.... 6. ..All....... ~u. r~""'"", .... aU .cUW' "c.~.n .. .,.... to chi rUe .0 need... '" Pkl 1M'" u. .... n. of ~ hb1ae leu".. ol hbl ....h CoQn,~. flHUa.- 7. l.U~ili.C)' 1ft" .-lc.Jral "-_ __&~ .w., ...,tJwcs..a.l ..,r .'-''''C. IMlL _~ .....n. I. A., U.. ,.....,u.4 ".1 a.... Uf. n..... Ita""... ... t&Vfl".f 4I*t _ltKiI'aUt7 ft hdlod.CY h~ ..,.u .~ '~~JN6 "" ..". ..c.... ~ .1' ~. :lp-' c.. .... ~~ ~rlM4 ~. ..--_......_._.._.~ .. ," ..~ '. ~..::,. ..' .,'. - . ~. .. '. .', ". . ".;,' . . . ~ ... '. " Z!Z tDed !lIdSI:t IO-51-6ny !OUO om 195 1 .J P.02 PPlCiB ::.:"). ~;- -,," ",:(2., ~-i'" . :. :~~~::. ~ . 2/2 \ I ! I I .;.:"', !~NIl S~39W3R :~8 +ues , PUPAllBD BY AND RB'lL_i TO I Jeffrey A. Levine, .aq. 4000 H. Federal Highway, Suite 201 Boca Raton, Florida 33431 Tax Polio No. QUIT CLADI DBBD made this J....'r.. day of August, 2001, between ANTHONY Bt office address is ~I?/ J' ~) 0(' 1",Lf,..,J 7. hereinafter called Grantor, and NO, a. to 50% perc.6t intere.t, and AUGUST VULTAGGIO, a. to 16.67% intereat, GIUSBPPB VULTAGGIO, a. to 16.67% inter.at and PIBTRA LoPICCOLO, aa to 16.66% interalt, whose post office address is 1501 H.W. 2nd Avenue, Boca Raton, W10rida 33432, called Grantee. WITNESSBTH That the Grantor, for and in consideration of the sum of Ten ($lo.OOl Dollars to them in hand paid by the Grantee, the receipt whereof is hereby acknowledged, have granted, bargained and sold to the Grantee, his successors and assigns forever, the following described property, lying and being in Palm Beach County, Florida, to wit: Lots 30 and 31, Block 2, LAXB BOYNTON BSTATBS, and the West 40 feet of Lot 10 and all of Lot 32, Block 2, LAKE BOYNTON BSTATBS, PLAT 1, and Lot 9 and Lots 19 through 21, inclusive, (less North 10 feet for Stata Road 804 Right-of-way and I-95 Right-of-Way), Block 2, LAKE BOYNTON BSTATBS PLAT 1, all according to the plat thereof a. recorded in Plat Book 13, page 32, of tha Public Record. of Pa~ Beach County, ~lorida. NOTE TO CLERK, This is a transfer of a partial inter..t in the real estate of the trust from the trustee to the beneficiaries of the trust. Therefore, only nominal documentary stamps are due as a r.sult of the tran.fer. To have and to hold the same together with all and singular the appurtenances thereunto belonging or in anywise appertaining, and all the estate, right, title, interest, lien, equity and claim whatsoever of the said Grantor, either in law or equity, to the only proper use, benefit and behoof of the said Grantee forever. IN WITNESS WHEREOF, the said Grantor has signed and sealed these presents the day and year first above written. u ,~ ~ONY MAmnNO. TRUSTY ,. .' i- nd gnat fr-J9dl.'!'-'S","O IA~ fI~~Jlc' 2nd witness Print Name :/ STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me this/..y"~ day of August, 2001, by ANTHONY MANNINO, TRUSTEE, who is: I I IV" personall~~own to me, or produced . """'><-., as photo identification. A ..~ Carole Sullman ill: -~*' MYCOMhISSION' C054400t EXPIRES . , , . Sep....ber 1~ 200< No ary Public, State of Florida ~mmi n ire., F:\WP50\Vulta99io\QCD.wpd