R95-113RESOLUTION R95-//~
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING AND DIRECTING THE MAYOR AND
CITY CLERK TO EXECUTE A CONTRACT FOR SALE
AND PURCHASE FOR PROPERTIES LOCATED
WITHIN OUR IN-FILL AREA, AND MORE
PARTICULARLY DESCRIBED HEREIN; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Boynton
Beach, Florida, upon recommendation of staff, deems it to be
in the best interest of the citizens and residents of the City
of Boynton Beach to purchase certain properties to be used in
the infill housing program, and
WHEREAS, funds for said purchase are available through
the CRA Land Acquisition account;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
~ The City Cormnission of the City of Boynton
Beach, Florida does hereby authorize and direct the Mayor and
City Clerk to execute a Contract for Sale of Purchase for
properties described as follows:
Rolling Green Ridge, 2nd Addition Lots
18, 19 and 20, Block 43, Plat Book 26,
Page 214
~ That the City Commission of the City of
Boynton Beach hereby waives the requirement of an appraisal,
pursuant to Section 166.045(1) (b), Florida Statutes.
~-~ That this Resolution
effective immediately upon passage.
shall become
ATTEST:
PASSED AND ADOPTED this /~ day of July, 1995.
CITY OF BOYNTON BEACH, FLORIDA
is~s ~on~r ~~~
issi n
City Clerk
(Corporate Seal)
PARTIES:
of
and
(Phone}
("Seller'}
(Phone)
hereby a,~ee that Seller shall sell and Buyer shell buy the following Real Property and Personal Property (collectively 'Pmoerty') upca~ the following terms and conditions, which
INCLUDE Standards for Reel Estate Transactions ("Standard(~'l') on the reverse side or attached hereto and driers and addenda to this Contract for Sale and Purchase ('Contract").
I. DESCRIPTION:
(a) Legal description of Real Property located in /-'"',,~'z.,'~, ,,/~-.<'~'/-f' County, Florida:
(b} Street address, city, zip, of the Property is-
(c) Pemonal Pmpe~- ~-~
II. PURCHASE PRICE ........................................................................................................................................................................................ $
PAYMENT:
(a) Deposit held in escrow by . in the amount of .............................. $
(b) Additional escrow deposit within days after Effective Date (as defined in Paragraph III) in the amount of .............................. $
(c) Subiect to AND assumption of mortgage in good standing in favor of
having an approximate present principal balance of ..................................................................................................................................... $.
(d) Pumhase money mortgage and note (see addendum) in the amount of .................................................................................................. $.
(e) Other:. $
(f) Balance to close by U.S. cash, LOCALLY DRAWN certified or cashier's chsck or third-party loan, subject to adjustments and pmratiens ............ $
III. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE If this offer is not executed 0y and delivered to ell parties OR FACT OF EXECUTION communicated in
writing between the parties on or before , the dapssit(s) will, at Buyer's option, be returned to Buyer and this offer withdrawn. The date of Co~tract ("Effectivq
Date") will be the date wh~ the last one of the Buyer and Seller has s~gned this offer. A facsimile copy of this Contract and any signatures herso~ shall be considered for all purposes as onginsis.
IV. FINANCING:
(CHECK ONLY ONE): O a fixed; ~ an ac~stat~; or C) a rmsd or a~lustai~e rate Ioun for the principal amount of $ at an initial interest rote nct to exceed %..
discount and origination fsss nct te excsed ' % of the principaJ amount, end a te~m o~ yssrs. Buyer will make application wi~in days after Elfsotive Date and use
reasonable diligence to obtain the loan commitment and, thereafter, to ssdsfy the te~ns and conditions of the commitment and oloee the loan. Buyer shall pay ell Ioa~ expenses.
If Buyer fails to obtain the commitment or fails to waive Buyer's dghte under this subparagraph within the time for obtaining the commitment or, after diligent effort, fails to meet
the terms and conditions of the commitment, ttmn either party thereafter, by written notice to the other, may cancel this Contract and Buyer shell be refunded the deposit(s); or
(b) The existing mortgage described in Paragraph 11(5 above has (CHECK ONLY ONE): O a vadable interest rate; or O a fixed interest rate of % per annum. At time of
ti'de transfer some fixed interest rotes are subject to increase. If increased, the rate shall not exceed* % per annum. Seller shall, within days after Effective Date,
fumi.sh a statement from each mortgagee stating pri~_cipal balance, method of payme~..t, i.~.e .re~ rate and status of. m.o. rtgags. If Buyer has agreed to assume a mortgage which
requires approval of Buyer by the mortgagee for assumption, then Buyer shall pmmpay ooraln ma nece~__--~__~y apl~cation and diligently complete and return it to the mortgagee.
Any mortgagee charge(s) not to exceed $ shall be paid by Buyer. If Buyer is not accepted by mortgagee or the requirements for assumption are not
in accordance with the terms of this Contract.or mortgagee makes a charge in excess of the stated amOUnt, Seller or Buyer may rescind this Contract by w~ittan notice to the other
~ ~ pa n ' er el o a the ' in interest ta or exc morro_ cha .
"~[~ ~~ ~6~rovz~ :z~fe i~u~nce, at seller's expense.
TITLE EVIDENCE: At least --~ days befo~e olsein~ date, but no earlier than ' days after Seller receives written notification that Buyer has obtained the loan
_'.!' "_ .?. ' o; ? redu rernsn=, ICHECK O.LY ONe:XSeller
~. ' *-.-i--_-.T_' ....... .,.~. ,~u~.,,.ve.r.j~. m~.. ~r m .~uyer..s ~ o~ ?uyar sna~.m uUye? e.xp~..Dream, in ac~d_ ands with Standard A, (CHECK ONLY ONE):
/,~e ~nsuranca commnman; l. wml le~lme copies m mslrumants q~ and, after olnsmg, an owner's ~ of. title insurance.
VI. CLOSING DATE: Th~s trensaction shell be olosed and ifm deed and other olesing papam delivered on ~/~__/ /~'.~' , unMss extended by other pmvisions of this Co~trast.
VII. RESTRICTIONS; EASEMENTS; MMITATIONS: Buyer shall take tiffs subjsct to: comprehensive land us~ ptens,'zuning, restriotlons, prohibitions and cther requiremants imposed
by govemmantel authority, restrictions and matters appearing on the plat or otherwise commo~ to the subdivision; public utir~[y easements of record (easements are to be located contiguous
to Reel Property lines and not more than 10 feet in width as to the rear or front lines and 7 1t2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing
and subssqusnt years; assumed mortgages and purchase money.~mmlgagas, if any;, ('it other mattem, see Paragraph XV); provided, ttmt there exists at closing no violation of tl~ foregoing
and none of them prevents use of the Property for tc'",~-_g'/',g2~-~../~'./~,g;~ .,, purpass(s).
VIII. OCCUPANCY-. Seller wanants that there are no pertiss in occupancy Other than Seller;, but, if Pmparty is intended to be rented or occupied beyond closing, the fact and terms
thereof shall be stated herein and the tenant(s) or _ _,~,c~__~-~gnts disclosed pursuant to Standard F. Selisr shall cleliver occupancy of Property at time of closing unless otherwise stated herein.
If occupancy is to be delivered before closing, Buyer assumes ali risk of loss to Proparty from date of occupancy, shall be responsible and liable for maintenance from ti'tat date. and shall
he deemed to have accepted Prop~ty in its existing condition as of time of taking occupancy urdese othem,.ise stated herein.
IX. TYPEWRrrTEN OR HANDWRH p-N PROVISIONS: Typewritten or handwfittan provisions, ridecs and addenda shell c~tml all p~d pmvisiens of this Contract in conflict with ti~em.
X. RIDERS: (CHECK lhose ddem which are applicebM AND are attached to this Contract):
(a) O COASTAL CONSTRUCTION CONTROL MNE RIDER (s) O INSULATION RIDER
(b) O CONDOMINIUM RIDER (f) Q 'AS IS' RIDER
(c) O FHANA RIDDER- (g) ~1
(d) ~ FOREIGN~NVESTMENT IN REAL PROPERTY TAX ACT'RIDER (h) O
Xl. ASSlGNABIUT~: (CHECK ONLY ONE): Buyer ~ may assign end thereby be released from any further liability under this Contract; O may assign but not be released from liability
under this Contract; or ~ may not assign this Contract.
Xll.TIME: ~me is of the essence of this Contract.
XlII. DISCLOSURES: Buyer (CHECK ONLY ONE) O acknowledgss; or,~doas not acknowledge receipt of the Agency/Raden/Compansatiun, the Reel Property Sales Expense
Disclosure Waming, and, if applicable, the Mandatory Homeowners' Association disctesuras. BUYER'S INITIALS.
XlV. MAXIMUM REPAIR COSTS: Seller shall not be responsible for the payment of costs in excess of:
(a) $ ~ -'/,'~ for treatment and repair under Stendarcl D (if blank, then 2% of the Purchase Price).
(b) $ ~ /.,~ for repair end replacement under Standard N (if blank, then 3% of the Purchase Price).
XV. SPECIAL CLAUSES: If additional space is required, attach addendum and CHECK HERE Q.
~ .: ~ THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
;roval does not constilute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a pallicu[~.r
be negoUated based upon the respective interests, objectives and bargaining positions of all interested persons.
(seller)
Sociel Security orTax ~.D. # .. // ~ Sociel Security or'tax LD. # ~ ;E ,c~ --,,y'~ -_~'~5"..~ ~'
(Buyer) (Date) (Seller) (Date)
Social Security or Tax I.D. # Social Security or Tax I.D. #.
Deposit under Paragraph II (a) received; IF OTHER THAN CASH. THEN SUBJECT TO CLEARANCE. ,,~,/~,~
BROKER'S FEE: The brokers named below, including listing and cooperating brokers, are the only brokers antitied to compensatiun in connection with this Contract:
Name
Listing Broker Cooperating Brokers, if any
FAR/EAR-3A Revised 7/94 RIDERS CAN RE OBTAINED FROM THE FLORIDA ASSOCIATION OF REALTORS~ OR THE FLORIDA BAR
[Esomw Agent)
Upon execution by both parties, the following agreement is made part of the Contract for Sale and Purchase dated Eae- day of
("SELLER") regarding the property d~
Date
SELLI~ Date
BUYER Date
SELLER Date
ACSP-1 4/93
ht o 1993, FLORIDA ASSOCIATION OF REALTORS®
725025
Orlando, Flodda 32872-5025
To order call your Local Board o¢ (407) 438-1400. ext. 2600
CITY ATTORNEY
I~EALTOR