Item F6
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: December 16. 2009
Division: Land Authoritv
Bulk Item: Yes No...x..
Contact / Phone #: Mark Rosch 1295-5180
Agenda Item Wording: Approval of contracts to purchase and sell 712-716 Eisenhower Drive and
703-705 Pearl Street in Key West for affordable housing in partnership with Habitat for Humanity of Key
West and Lower Florida Keys, Inc, (HFH),
Item Background: This agenda item authorizes the purchase and resale of a site nominated by the
Key West City Commission, The subject property is approximately 0,34 acre in size and developed
with 11 legal non-conforming residential units in three buildings built from 1938 to 1948, All of the units
are either efficiencies or 1 bedroom/1 bathroom with an average unit size of 451 square feet and a total
building area of 5,300 square feet. HFH proposes to acquire the site with Land Authority assistance,
perform $252,480 of renovations, and manage the property as affordable rental housing,
Pursuant to the first contract the Land Authority would purchase the property from the Estate of Robert
William Townshend for $1,550,000, Paragraph 15 of the contract includes contingencies that must be
satisfied prior to closing, including probate court approval, resolution of a building encroachment issue
with the City of Key West, resolution of a deed overlap issue with the adjoining Moose Lodge property,
and the Land Authority's simultaneous resale of the property to HFH, Pursuant to the second contract
the Land Authority would impose affordable housing deed restrictions, sell the property to HFH for
$1,000,000, and finance $575,000 of the sales price via a 30-year zero-interest balloon mortgage loan,
The estimated closing costs for these transactions are listed in the agenda packet spreadsheet. A
memo addressing the real estate commission is also included,
Advisory Committee Action: On September 29, 2009 the Committee voted 3/0 to approve the
purchase and sale, On November 24, 2009 the Committee voted 4/0 to approve the deed restrictions,
Previous Governing Board Action: On July 15, 2009 the Board approved adding this property to the
Acquisition List.
Contract/Agreement Changes: NIA
Staff Recommendation: Approval.
Total Cost: See spreadsheet
Indirect Cost: $
Budgeted: Yes....x..- No_,
Cost to Land Authority: See spreadsheet
Source of Funds: Land Authoritv
(Tourist Impact Tax collected in Key West)
Approved By: Attorney ~ County Land Steward _'
Documentation: Included:....x..-
To Follow:
Not Required:
Disposition:
Agenda Item
PURCHASE CONTRACT
12/16/09
Property
Purchase
Price
Title
Insurance
ESA&
Survey
712,714 and 716 $1,550,000,00
Eisenhower Drive; and 703
and 705 Pearl Street
Buyer: Monroe County Land Authority
Seller: Estate of Robert William Townshend
$2,750,00
$6,575,00
SALES CONTRACT
12/16/09
Property
Sales
Price
Title
Insurance
ESA&
Survey
712,714 and 716 $1,000,000,00 N/A N/A
Eisenhower Drive; and 703
and 705 Pearl Street
Buyer: Habitat for Humanity of Key West and Lower Florida Keys, Inc,
Seller: Monroe County Land Authority
Attorney
Fee
$500,00
Attorney
Fee
$500,00
Recording
Fee
$27,00
Recording
Fee
N/A
Total
Costs
$1,559,852,00
Net
Proceeds*
$999,500,00
*Note: $575,000 of Land Authority's proceeds will be loaned to Habitat for Humanity and secured by a 30-year, zero interest
balloon mortgage,
At\
V
MONROE COUNTY LAND AUTHORITY
1200 TRUMAN AVENUE, SUITE 207 · KEY WEST, FLORIDA 33040
PHONE (305) 295-5180 · FAX (305) 295-5181
MEMORANDUM
TO: Land Authority Governing Board
FROM:
Mark J. Rosch, Executive Director r;.Jb::-
DATE: December 1,2009
SUBJECT: Real Estate Commission on 712-716 Eisenhower Drive and 703-705 Pearl Street
The following information pertains to the real estate commission associated with the proposed
acquisition of 712-716 Eisenhower Drive and 703-705 Pearl Street in Key West
The property owner (Estate of Robert William Townshend) has contracted with Flagler Realty
for marketing services that include listing the property for sale on the Multiple Listing Service,
The owner's listing agreement with Flagler Realty requires the owner to pay a real estate
commission in the amount of 6% of the sales price, Based on the proposed sales price of
$1,550,000, the real estate commission will be $93,000. The listing agent employed by Flagler
Realty to sell the subject property is Walt Lee.
Donna Windle is a realtor with Southernmost Realty who has been working with Habitat for
Humanity of Key West and Lower Florida Keys, Inc. Mr. Lee of Flagler Realty has indicated that
if the Land Authority purchases the subject property, his firm will split the real estate commission
with Southernmost Realty due to that firm's role as a cooperating broker. The sharing of real
estate commissions between listing and cooperating brokers is a common practice.
Ms. Windle is currently a member of the Key West Community Housing Committee, a
committee which reviewed the subject property and recommended that the Key West City
Commission nominate the site as a Land Authority acquisition. The City staff has advised the
Land Authority that Ms. Windle was not a member of the Committee at the time the review and
recommendation took place.
The Land Authority has not retained the services of any real estate agent or broker. Any real
estate commissions owed as a result of the proposed transactions will be the responsibility of
the Estate of Robert William Townshend. Real estate commissions are typically deducted from
the Seller's proceeds and disbursed at the time the transaction closes,
Aerial Photograph of Subject Property
712,714, and 716 Eisenhower Drive and 703 and 705 Pearl Street
RE #00023300-000000
Key West
RESOLUTION NO.
09-089
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF KEY WEST,
FLORIDA, NOMINATING THE PROPERTY LOCATED AT 712-716 EISENHOWER
DRIVE FOR PURCHASE BY THE MONROE COUNTY LAND AUTHORITY FOR
USE AS AFFORDABLE HOUSING; PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, it is the desire of the City Commission of the City of Key West,
Florida to provide additional affordable housing within the City;
NOW, THEREFORE, BE IT RESOVED BY THE CITY COMMISSION OF
THE CITY OF KEY WEST, FLORIDA, AS FOLLOWS:
Section 1. That the City Commission hereby nominates the property located at
712-716 Eisenhower Drive (hereinafter "subject property") for inclusion on the Land
Authority Acquisition List as affordable housing units to be acquired by the Monroe
County Land Authority.
Section 2. In the event the Monroe County Land Authority acquires the subject
property, the City Commission herby requests that the Monroe County Land Authority
subsequently convey the subject property to Habitat for Humanity of Key West & Lower
Florida Keys to operate as affordable housing.
Section 3. That this Resolution shall go into effect immediately upon its passage.
and adoption and authentication by the signature of the presiding officer and Clerk of the
Commission.
Passed and adopted by the City Commission at a meeting held this 71:h
day of April , 2009.
Authenticated by the presiding officer and Clerk of the Commission on
ApT; 1 R ,2009. ~
Filed with the Clerk ~pril & ~09,. _ .
MORGAN McPHERSO , MAYOR
/ft,T~ La ~ )
~TYCLERK
March 12, 2009
Mayor McPherson and Commissioners
525 Angela Street
Key West, FL 33040
Dear Mayor McPherson and Commissioners:
This letter is to request that the property located at 712-716 Eisenhower Drive be nominated for
acquisition by the Monroe County Land Authority.
The subject property consists of 11 residential units. Habitat for Humanity of Key West has
researched, developed, and secured funding for the planned renovation of these historic
buildings and the preservation of their affordability through Habitat's land trust.
If there are any further questions regarding this property and the need to preserve its history and
affordability please contact me at 684-1252 or execdirector@ habitatlowerkevs,orq.
Thank you,
Bob Calhoun
Executive Director
30320 Overseas Highway Big Pine Key, FL 33043
Phone: 305-872-4456 Fax: 305-872-4404 Email: illfo@habitatlowerkevs.orf! www.habitatlowerkeys.org
Building houses and lives in
partnership with all God's neonle in need.
EISENHOWER RENTAL UNITS
PROGRAM BUDGET
DATE: February 4, 2009
REV. Initial
BUDGET ITEMS QUANTITY UNITS UNIT COST TOTAL
SITEWORK
Site Demolition/Clean Up 1 LS 5,000,00 5,000
Site paving at rear alley 1500 sf 8,00 12,000
Site Drainage 1 allow 4,000,00 4,000
New Electrical Service 1 ea 10,000,00 10,000
Landscaping Allowance 1 ea 1,000,00 1,000
Subtotal 32,000
DEMOLITION
Asbestos/Hazardous Materials Allowance 1 ea 5,000,00 5,000
Demolish Interior spaces 1 ea 500.00 500
Demolition Haul Off 4 loads 800,00 3,200
Dust Partitions/Safety 1 Is 1,000,00 1,000
Subtotal 9,700
STRUCTURE
Slab on grade o sf 10.00 0
Exterior Landing o sf 25.00 0
Stairs and Deck 200 sf 20,00 4,000
Redo Porch Building 2 252 sf 30.00 7,560
Redo Porch Building 1 100 sf 20.00 2,000
Subtotal 13,560
SKIN
Ext, walls paint and caulk 1 Is 4,000,00 4,000
Windows 10 ea 300.00 3,000
Close Old AC Blockouts 10 ea 100,00 1,000
Doors Rework 5 ea 200.00 1,000
Roofing Upper and Lower 1 Is 4,000,00 4,000
Soffits and Facia 500 If 15,00 7,500
Subtotal 20,500
INTERIORS
Redo Unit Walls 1 ea 3,500,00 3,500
Redo Tile at Baths 500 sf 9.00 4,500
Carpet or VC Tile Unit Floors 5300 sf 2,00 10,600
Point and Patch Ceilings 500 sf 2,00 1,000
Paint Ceilings 7500 sf 0,50 3,750
Sills at Windows 50 sf 25,00 1,250
Rebuild Walls at Garage 200 If 2.00 400
Paint Interiors 12 ea 150,00 1,800
Redo Tile at Kitchens 480 sf 9.00 4,320
sf 0,00 0
Subtotal 14543 sf 31,120
Page 1
DATE: February 4, 2009
REV, Initial
BUDGET ITEMS
SPECIAL ITEMS/SYSTEM
HVAC 12 New Split Systems
Plumbing Redo at Sinks
Electrcal
Sprinklers
Elevator
Exterior Landing Rails
Signage
Security Surveillance Lights
Telephone System Conduit and Cable
Telephone System Equip
SecuritylEntry Control
Gates/Fence
EISENHOWER RENTAL UNITS
PROGRAM BUDGET
Subtotal
QUANTITY UNITS UNIT COST TOTAL
12 ea 2,500,00 30,000
24 ea 200,00 4,800
12 ea 2,000,00 24,000
o sf 0,00 0
1 allow 0,00 0
1 allow 0.00 In above
1 allow 500,00 500
1 allow 500,00 500
1 allow 500,00 500
1 allow 0,00 NA
1 ea 0,00 0
50 If 50.00 2,500
62,800
6 ea 600.00 3,600
6 ea 200,00 1,200
ea NA
6 ea 500,00 3,000
allow 0
units 0
allow 0
allow 0
allow 0
7,800
$ 177,480
5,000
60,000
$ 242,480
2,000
8,000
0
0
0
0
0
0
0
0
0
0
0
$ 10,000
$ 252,480
EQUIPMENT & FURNISHINGS
Kitchen Cabinets
Vanities
Laundry Equipment
Appliances/Stove and Oven/Refrigerator
Window AC Units
Other
Other
Other
Other
SUBTOTAL
Estimated General Conditions
Construction/Maintenance Contingency
CONSTRUCTION TOTAL
SOFT COSTS
Survey
Termite Treatment
ImpactW & S
Meter Install Fee
Impact Electric
Builder's Risk Ins
Legal HOA
Home Sale Closing
Accounting
Developer Fee
AE Fee
AE Reimbursibles
Project Management
Subtotal
ESTIMATED PROJECT BUDGET
Subtotal
Page 2
.,
MONROE COUNTY LAND AUTHORITY
1200 TRUMAN A VENUE, SUITE 207 · KEY WEST, FLORIDA 33040
PHONE (305) 295-5180 · FAX (305) 295-5181
April 23, 2009
Amy Kimball-Murley, Planning Director
City of Key West
PO Box 1409
Key West, FL 33040
Re: 712-716 Eisenhower Drive and 703-705 Pearl Street (RE #00023300-000000)
Dear Amy:
As you know, the City Commission has nominated the above referenced property for purchase
by the Monroe County Land Authority as an affordable housing site.
I am writing to request the Planning Department's assistance in analyzing the property's
general suitability for affordable housing as well as the following specific issues:
1) Building Permit Allocation System Determination - How many units does the City recognize
on the property?
2) Code Compliance Issues - Do the buildings on the property comply with flood elevation,
zoning, parking, setbacks, etc.? If not, is there a limit on the extent of renovations allowed
before the buildings must be brought into compliance? How many units could be built back
if the buildings are destroyed?
3) Eisenhower Drive Right-of-Way - The attached survey shows a 25 to 35 foot overlap
between the subject lot and the Eisenhower Drive right-of-way. Does the City still claim
ownership of this right-of-way?
Thank you for your attention to these matters.
Sincerely,
I:\~h~
Executive Director
cc: Bob Calhoun, Habitat for Humanity
If-IE CITY OF KEY \NEST
l'u4 Ortkt' HI'" ).109 K,'v W('St. FI.>3il-ll- ]lU9 (10'11 ~il9-3700
May 20, 2009
VIA U.S. MAIL and EMAIL
Mark J. Rosch, Executive Director
Monroe County Land Authority
1200 Truman Avenue, Suite 207
Key West, Florida 33040
RE: 712 - 716 Eisenhower Drive
Real Estate (RE) Number 00023300-000000
Build-back Letter
Dear Mr. Rosch,
The purpose of this letter is to respond to your request that the Planning Department issue a determination
letter regarding the property at 712 - 716 Eisenhower Drive and 703 - 705 Pearl Street, Real Estate Number
00023300-000000.
Regarding the property's suitability for your project, from a practical stand point, this is an existing
apartment building that alleviates the need to both acquire land and construct a building/ s. While the
buildings are somewhat worn, they are in relatively good shape considering their age. Clearly, some
renovations are needed. This property would seem to be appropriate for the proposed use considering the
central location between Old Town and New Town. This increases accessibility to local employment
throughout the city. Additionally, the property offers a comfortable environment with the extensive
landscaping, common areas and open porches.
The following are direct responses to the questions in your letter.
1) Building Permit Allocation System (BPAS) units: A 1986 Polk City Directory lists 716 Eisenhower
Drive as having ten units and Pearl Street as having one unit (Attachment 1). This indicates that the
number of units predates the BPAS determination date of 1990 used in calculations for the
hurricane evacuation model. Further, the Monroe County Property Appraiser's Office records
show a sales history dating back to 1980 (Attachment 2). '
2) Number of units: The property is licensed for eleven non-transient residential units with
individual sewer and solid waste accounts, according to the Licensing Division of the Building
Department (Attachment 3). According to Keys Energy Services, there are ten active accounts and
one vacancy. A site visit confirmed that there are actually twelve meters, one being for exterior
lighting and possibly hot water heaters (Attachment 4).
3) Code Issues: this is a legal non-coruorming property. If the buildings are involuntarily destroyed,
they may be reconstructed in the original footprint at the current non-complying density.
However, if the cost of replacement exceeds 50% of the assessed value of the buildings, FEMA
Monroe County Land Autho'
Build-back Determination Letter
Page 2
e
flood elevation requirements will need to be met. Further, if any proposed renovations will exceed
66% of the assessed value of the structure, all legal non-conformities will require variances.
· The survey provided with your letter shows the finished floor elevation for the buildings is
seven feet plus. The FEMA flood elevation required for this property is six feet (AE 6). The
buildings are one foot over the requirement and thus meet FEMA regulations (Attachment
5).
· The property is located in the Historic Medium Density Residential (HMDR) zoning district.
Multiple-family residential dwellings are a permitted use in this district, although not to the
existing density (Attachment 6).
· Parking requirements are currently not being met. There are no parking spaces shown on
site. Again, this is a legal non-conforming property.
· Dimensional limitations are currently not being met. Required setbacks and coverages are
affected by a substantial City Right-of-Way that runs across the property along Eisenhower
Drive. This removes a large area of required pervious surface and also places a portion of
the front building in the City Right-of-Way (ROW) (see Attachment 7).
4) Eisenhower Drive ROW: The City of Key West maintains possession of the ROW. An easement
will be required for that portion of the front building that is within the ROW. Stormwater
improvements may be required with any approval of an easement application.
This determination is based on information available from the City Building Department records, the
Monroe County Property Appraiser's Office, Sanborn Maps, City Directory information, City licensing
records, and the 1991 Land Use Inventory.
In summary, this letter establishes that eleven non-transient residential units exist on the property. This
letter does not grant unit allocations, but rather recognizes eleven existing non-transient residential units
on the property. Subsequently, this document will be sent to the Department of Community Affairs (DCA)
for their review. It is possible that the DCA may object to or provide direction regarding these findings.
Please do not hesitate to call me with any questions or comments.
Sincerely,
BreM~~=
Attachments
Xc:
Amy Kimball Murley, AICP, Planning Director
Carolyn Walker, Licensing Official
Rebecca Jetton, Florida Department of Community Affairs
GEO Files
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712- 716 Eisenhower Drive
(Includes 703 & 705 Pearl Street)
,g. .Jr~"-"
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. Located in IOld Town' and one block from Garrison Bight
. Eleven licensed units. (non-transient) *
. Eleven 1.0 ROGO's *
. 18,041 square foot lot*
. 5,300 square foot under roof *
. Generates $9,625 per month in rents*
FLAGLER
REAL TY
REAL ESTATE SERVICES
Presented by Walt Lee & George P. Irish
3158 Northside Drive, Key West, FL 33040
305-292-3889 or 888-291-3889
712- 716 Eisenhower Dr.
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703 Pearl S!
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712.714,716 EisenllOwer Dr.
703, 705 Peart Street
\"
Key West. FL
Not To Scale
jO,\ll<;U...la
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Building Sq Ft: 5300 (private appraisal)
Lot Sq Ft: 18,041 (private appraisal)
Year Built: 1938
Zoning HMDR
Presented by Walt Lee & George P. Irish
3158 Northside Drive, Key West, FL 33040
305-292-3889 or 888-291-3889
* Note: info provided to Flagler Realty by the City of Key West, the Monroe Co, Property Appraiser, a privatc appraisal company & the controller for thc estate, Flagler
Realty believes this infomlation to be true. However, Flagler Realty makes no warranties for accuracy of info, All info should be verified before making decision to
purchase,
AGREEMENT FOR THE PURCHASE OF LANDS
THIS AGREEMENT is made and entered into this
and between
day of
, 2009, is by
Robert T. Feldman as Personal Representative of the Estate of Robert William
Townshend
hereinafter style the Seller(s), for themselves, their heirs, executors, administrators, successors and
assigns, and the MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY (hereinafter,
"Land Authority") acting by and through the Executive Director of the LAND AUTHORITY,
WITNESSETH:
1, In consideration of Ten Dollars ($10,00) in hand, paid by the LAND AUTHORITY, the receipt of
which is hereby acknowledged, the Seller(s) agree to sell to the LAND AUTHORITY certain lands
upon the terms and conditions hereinafter set forth, and for the price of $1,550,000.00 for all of
the lands and other interests, which lands shall include all tenements, hereditaments, together
with all water and other rights, easements, appurtenances, and any and all of the Seller's rights in
or arising by reason of ownership thereunto belonging, owned by them, situate and lying in the
County of Monroe, State of Florida, more particularly described as follows; to-wit:
712-716 Eisenhower Drive and 703-705 Pearl Street, more particularly described in
Attachment A less the property described in Attachment B.
RE# 00023300-000000
2, The Seller(s) agree that they have full right, power and authority to convey, and that they will
convey to the LAND AUTHORITY the fee simple title together with legal and practical access
thereto clear, free and unencumbered, except subject to the following easements or reservations:
Existing easements for canals, ditches, flumes, pipelines, railroads, public highways and roads,
telephone, telegraph, power transmission lines and public utilities,
The LAND AUTHORITY, at the LAND AUTHORITY'S expense, within the time allowed to deliver
evidence of title and to examine same, may have the real property surveyed and certified by a
registered Florida surveyor, If the survey discloses encroachments on the real property or that
improvements located thereon encroach on setback lines, easements, lands of others, or violate
any restrictions, contract covenants, or applicable governmental regulations, the same shall
constitute a title defect.
Seller(s) shall convey a marketable title subject only to the aforementioned liens, encumbrances,
exceptions or qualification set forth herein, Marketable title shall be determined according to
applicable title standards adopted by authority of the Florida Bar and in accordance with law, The
LAND AUTHORITY shall have sixty (60) days from receipt of an acceptable environmental site
assessment in which to examine title, If title is found defective, the LAND AUTHORITY shall,
within this specified time period, notify Seller(s) in writing specifying defect(s), If the defect(s)
render title unmarketable the Seller(s) will have one hundred twenty (120) days from receipt of
notice within which to remove the defect(s), failing which the LAND AUTHORITY shall have the
option of either accepting the title as it then is or rescinding the contract herein; thereupon the
LAND AUTHORITY and the Seller(s) shall release one another of all further obligations under this
Agreement. The Seller(s) will, if title is found unmarketable, use diligent effort to correct defect(s)
in title within the time provided therefore, including the bringing of necessary suits,
1
3, The Seller(s) further agree not to do, or suffer others to do, any act by which the value or title to
said lands may be diminished or encumbered, It is further agreed that any loss or damage
occurring prior to the vesting of satisfactory title in the LAND AUTHORITY by reasons of the
unauthorized cutting or removal of products therefrom, or because of fire, shall be borne by the
Seller(s); and that, in the event any such loss or damage occurs, the LAND AUTHORITY may
refuse, without liability, to accept conveyance of said lands, or it may elect to accept conveyance
upon an equitable adjustment of the purchase price,
4, The Seller(s) further agree that during the period covered by this instrument officers and
accredited agents of the LAND AUTHORITY shall have at all proper times the unrestricted right
and privilege to enter upon said lands for all proper and lawful purposes, including examination of
said lands and the resources upon them, The Seller(s) hereby waive their rights to any and all
claims against the LAND AUTHORITY or Monroe County associated with, or arising from
ownership of, said lands and this waiver shall survive closing,
5, The Seller(s) will execute and deliver upon demand of the proper officials and agents of the LAND
AUTHORITY a good and sufficient deed of warranty conveying to the LAND AUTHORITY a safe
title to the said lands of such character as to be satisfactory to the legal counsel of the LAND
AUTHORITY and said deed shall provide that the use, occupation and operation of the rights-of-
way, easements and reservations retained therein, shall be subordinate to and subject to such
rules and regulations as may be prescribed by the LAND AUTHORITY governing the use,
occupation, protection and administration of lands,
6, In consideration whereof the LAND AUTHORITY agrees that it will purchase all of said lands and
other interests at the price of $1,550,000.00, The LAND AUTHORITY further agrees that, after
the preparation, execution, delivery and recordation of the deed, and after the legal counsel of the
LAND AUTHORITY shall have approved the title thus vested in the LAND AUTHORITY, it will
cause to be paid to the Seller(s) the purchase price by a check drawn on the account of the LAND
AUTHORITY, The LAND AUTHORITY shall pay the following expenses associated with the
conveyance of the property: deed recording fees, settlement fees, abstract fees, title examination
fees, the Buyer's attorney's fees, and title insurance, as well as the prorata share of prepaid real
property taxes allocable to the period subsequent to the vesting of title in the LAND AUTHORITY,
or the effective date of possession of such real property by the same, whichever is earlier, The
Seller(s) shall pay the expenses of documentary stamps to be affixed to the deed, Full
possession of the premises shall pass to the LAND AUTHORITY as of the date payment is made
to the Seller(s) subject only to the reservations stated in Section 2 above,
7, It is mutually agreed that an abstract, title insurance policy or other evidence of title to the property
herein contracted to be sold, satisfactory to the legal counsel of the LAND AUTHORITY will be
obtained by the LAND AUTHORITY at its expense, The Seller(s) expressly agree herein to
furnish to the LAND AUTHORITY any documents in Seller(s)'s possession establishing evidence
of title including, but not limited to, abstracts, title commitments, title policies and opinions of title,
8, It is mutually understood and agreed that the LAND AUTHORITY may assign this contract.
9, It shall be the obligation of the Seller(s) to pay all taxes and assessments outstanding as liens at
the date title vests of record in the LAND AUTHORITY, whether or not such taxes and
assessments are then due and payable,
2
10. It is mutually understood and agreed that notice of acceptance of this agreement shall be given to
the Seller(s) by mail addressed to the Seller(s) at the following address:
3529 Sunrise Drive
Key West, FL 33040
with a copy to:
Walter Lee
Flagler Realty
walt@kwflagler.com
and shall be effective upon date of mailing and shall be binding upon all of the Seller(s) without
sending a separate notice to each, except as such obligation may be affected by the provisions of
paragraph 6 hereof,
11, The property shall be delivered at closing free of any tenant or occupancy whatsoever, unless the
tenant is income qualified for affordable housing or otherwise approved by the LAND
AUTHORITY,
12, The effective date of this agreement shall be that date when the last one of the Seller(s) and the
LAND AUTHORITY has signed this agreement.
13, The LAND AUTHORITY shall have sixty (60) days from the effective date of this agreement in
which to conduct an environmental site assessment to determine the existence and extent, if any,
of any hazardous materials on the property, For the purposes of this agreement, "hazardous
materials" shall mean any hazardous or toxic substance, material or waste of any kind or any
other substance which is regulated by any environmental law, If the environmental site
assessment identifies the presence of hazardous materials on the property, the LAND
AUTHORITY shall, within this specified time period, notify Seller(s) in writing of the findings, The
Seller(s) will then have one hundred twenty (120) days from receipt of notice within which to
pursue, at Seller(s)' sole cost and expense, any assessment, clean-up, and monitoring of the
Property necessary to bring the Property into full compliance with any and all applicable federal,
state or local laws, failing which the LAND AUTHORITY shall have the option of either accepting
the property as it then is or rescinding the contract herein; thereupon the LAND AUTHORITY and
the Seller(s) shall release one another of all further obligations under this Agreement.
14, If the Seller(s) wish to proceed with this transaction, the Seller(s) have until October 26, 2009 to
sign and return this contract to the LAND AUTHORITY,
15, The LAND AUTHORITY intends to purchase the subject property as an affordable housing site in
partnership with Habitat for Humanity of Key West and Lower Florida Keys, Inc, (hereinafter
"Habitat for Humanity"), Notwithstanding any provision of this Agreement to the contrary, the
closing of this transaction is subject to each of the following contingencies,
a) The Seller(s) canceling the purchase and sale agreement with Habitat for Humanity for the
subject property dated March 12, 2009,
b) The Seller(s) obtaining an order authorizing the sale of the subject property from the Circuit
Court of Monroe County in the matter pertaining to the Estate of Robert W, Townshend,
deceased,
c) The Seller(s) resolving the title issue with the City of Key West by obtaining either an
easement or a deed from the City of Key West for the portion of the building on the subject
property encroaching in the platted right-of-way of Eisenhower Drive,
d) The Seller(s) resolving the deed overlap issue with the owner of record of the Moose Lodge at
700 Eisenhower Drive by obtaining lot split approval from the City of Key West and
3
quitclaiming to said owner the property described in Attachment B and receiving from said
owner a quit claim deed to the property described in Attachment C,
e) Approval by the LAND AUTHORITY'S Advisory Committee and Governing Board,
f) Habitat for Humanity purchasing the subject property encumbered with affordable housing
deed restrictions from the LAND AUTHORITY for a purchase price of $1,000,000,00, of which
purchase price the LAND AUTHORITY agrees to finance as a $575,000,00 mortgage loan,
g) The simultaneous closing of the Seller(s)' sale of the subject property to the LAND
AUTHORITY and the LAND AUTHORITY's sale of the subject property to Habitat for
Humanity,
In the event these contingencies are not satisfied and the transaction is not closed on or before
December 31, 2009, either party shall have the right to terminate this Agreement by providing
written notice, at which point both parties shall be released of all further obligations under this
Agreement.
IN WITNESS WHEREOF, the Seller(s) have hereunto signed their names and affixed their respective
seals on the day first above written and therefore the Seller(s) for and in consideration of the Ten
Dollars ($10,00) hereinabove acknowledge as received, have and do hereby grant unto the LAND
AUTHORITY or its authorized representative, or any other office or agent of the LAND AUTHORITY
authorized to purchase said lands, the option and right to enter into this Agreement for Purchase
within sixty (60) days from the execution thereof by the Seller(s), and to purchase said lands as herein
provided,
Robert T. Feldman as Personal Representative of the Estate of Robert William
Townshend
Signature
Date
Federal Tax 10 Number Phone Number
The MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY, acting by and through its
EXECUTIVE 01 RECTOR in accordance with Resolution 09-2004, has executed this agreement on
behalf of the MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY this day of
,2009,
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
(Seal)
Mark J, Rosch, Executive Director
4
Attachment A
All of Lot 2 and part of Lot 1 of
Square 1 of Traot 7, nIl according to
ALBUR~'S SUBDIVISION of part of
Tr.act 7, according to the plat thereof,
recorded in Deed Book II 1M, page 389 in
the Public Recorda of Monroe County,
Flo~ida, Bnd baing mo~e particularly
deacrincd as follows:
BEGINNING at th~ Southweste"C'ly
Right:-of-WBY Line of EISENHOm;R.
DRIVE BS existing and CODstt:uotad
and the NOlthwester ly Right-af-Way
Line of ~F.WTON STREET: thencQ
N 44045107" W olong the said
Southwesterly Right-of-Way Line of
EISENHOWER DRIVE for 98.90 feet;
thence N 44.58~OO" W fot 179.49
fast to th. Northwesterly
Right-.of -Way Line of PEARL STR~E~1:
thence S 41.21'11" E along the asil
Northeasterly Right-of-Way Line ~
PEAnL STREET for 99.00 feet to the
said Northwesterly Rigbt-of-wq,
Line of NEWTON STREET; thenQ$.
N 44~59.53. B along the sa~:
Ncjrthwest~u:ly Right-of-Way Line Qt.:
NEWTON STREET, for 185.35 feet to
the said Southwesterly Right-of-Way
Line of EISENHOWER DRIVE Bnd the
Point of, .tlaglnninq. Containiuy
18,040.84 Squart;a "feet, More 01' Less.
Said premises being known as 716 EISENHOWER DRIVE.
Attachment B
Property to be quit-claimed from. Seller(s) to Moose Lodge owner,'()j ,reeoDd
SpecifiC Purpose Sketch to illustrate a legal description
of part of Lot I, Sq. I of Tract 7 of Albury's SubdivISion
prepared by the undersigned
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LEGEND
NWly I:>oundary Ime of lands described
In OR flook 1045, Pa'1je 2485,
Point of 8eginning
57,50'
N 44'58'00" t
92,50'
N 44'58'00" t
"-.
92,33'
5 44'58'00. W
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00
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R/W Right of Way
if Centerline
(r) Record
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Newton St.
NOTES:
1, The legal description shown hereon was authored by the undersigned,
2, Underground foundations and utilities were not located,
3, All angles are 90' (Measured &: Record) unless otherwise noted,
4, Street address: 700 Eisenhower Dr" Key West, FL,
5, This sketch is not valid without the signature and the original raised seal of a
Florida licensed surveyor and mapper,
6, Lands shown hereon were not abstracted for rights-of-way, easements, ownership,
or other instruments of record,
7, Bearings are assumed and based on the NW'll bounaary line of the property described in
O,R, Book 1045, Page 2485, called N 44'58'00 E.
8, This sketch is not assignable,
9, Adjoiners are not furniShed,
10, The description contained herein and sketch do not represent a field boundary survey,
SPEClF/C PURPOSE SURVEY TO ILLUSTRATE A LEGAL DESCRIPTION
AUTHORED BY THE UNDERSIGNED
A parcel of land on the Island of Key West, known as part of Lot 1 of Square i. Tract 7.
according to Albury's Subdivision of part of Tract 7, as recorded in Deed Book j", Page 389. in
the Public Records at Monroe County, Florida, said parcel being more particularly described as
follows:
COMMENCE at the intersection of the NE'ly right of way line 01 Pearl Street and the NW'ly right
of way line of Newton Street and run thence N 41'27'42" W along the NE'ly right of way line of
the said Pearl Street lor a distance of 99,00 leet to the NW'ly corner 01 lands described in
Olficial Record Book 1045, at Page 2485, as recorded in the Public Records of Monroe County,
Florida; thence N 44'58'00" E and along the NW'ly boundary line of the said lands as described
in Official Record Book 1045, at Page 2485 for a distance of 57,50 feet to the Point 01
Beginning; thence continue N 44"58'00" E and along the NW'ly boundary line 0/ the said lands
as described in Official Record Book 1045, at Pale 2485 lor a distance 01 92,50 leet to the
SW'ly right of way line 01 Salt Pond Road as platted and shown in the said diagram as
recorded in Deed Book ~1", Pale 389; thence S 41'27'42" E along the SW'ly right of way line of
Salt Pond Road as platted and shown in the said diagram. for a distance 01 2,81 fect; thence
S 44'58'00" W for a distance 01 92,33 feet; thence N 45'02'00" W tor a distance of 2,80 leet
back to the Point of Belinning,
SPECIFIC PURPOSE SKETCH FOR: Key West Lodge No, 1760, Loyal Order of the Moose, lnc,;
n 0 'Flynn, PSM
a Reg, #6298
February 5, 2009
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J . LYNN
A
Q'FLYNN, Inc.
Profllliongl SurU'for a. Mapp.r
PSM 18ZIS
34JO Duck Ave., Key West. FL .3.3040
(JD5) 296-7422 fAK (305) 296-2244
Attachment C
Property to be quit-claimed from Moose Lodge f d
owner 0 recor to Seller(s)
SpecIfiC Purpose Sketch to illustrate a legal description
of part of Lot I, Sq. I of Tract 7 of Albury's SubdiVIsion
prepared by the underSigned
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NWly boundary line of lands described
In OR Book 1045, Pa<:le 2485,
57,50'
N 44'58'00" f
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92,JJ'
N 44'58'00" E
150,00'
5 44'56'50" W
5E'ly boundary line of lands described
In OR. Book 37B, Paqe 728,
L
Poin' of Beginning
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LEGEND
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R/W
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(r)
Right of Woy
Centerline
Record
.s
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Newton St.
NOTES:
1, The legal description shown hereon was authored by the undersigned,
2, Underground foundations and utilities were not located,
3, All angles are 90" (Measured & Record) unless otherwise noted,
4, Street address: 700 Eisenhower Dr" Key West, FL.
5, This sketch is not valid without the signature and the original raised seal of a
Florida licensed surveyor and mapper,
6, Lands shown hereon were not abstracted for rights-of-way, easements, ownership,
or other instruments of record,
7, Bearings are assumed and based on the NW'I),' boundary line of the property described in
O,R, Book 1045, Page 2485, called N 44"58 '00 ' E. -
8, This sketch is not assignable,
9. Adjoiners are not furnished,
10, The description contained herein and sketch do not represent a field boundary survey,
SPECIFiC' PURPOSE SURVEY TO ILLUSTRATE A LEGAL DESCRIPTION
(.lUTHORED BY THE UNDERSIGNED
A parcel 01 land on the Island 01 Key West, known as part of Lot 1 of Square 1, Tract 7, /Jccording to
Albury's Subdivision of part 01 Tract 7, as recorded in Deed Book '1': Page 389, in the Public Records 01
Monroe County, Florida, said parcel being more particularly described as lollows:
COMMENCE at the intersection 01 the NE'ly right 01 way line 01 Pearl Street and the NW'ly right of way
line 01 Newton Street and run thence N 41'27'42" W along the NE'ly right of way line of the said Pearl
Street for a distance of 93,63 feet to the SW,ly corner 01 lands described in Official Record Book 379,
at Page 728, as recorded in the Public Records 01 Monroe County, Florida, said point also being the
Point of Beginning; thence continue N 41'27'42" W along the NE'ly right 01 way line of the said Pearl
Street for a distance 01 5,37 feet to the NW'ly corner 01 lands described in Official Record Book 1045,
at Page 2485, 01 the said Public Records; thence N 44'58'00" E and along the NW'ly boundary line of the
said lands described in Official Record Book 1045. at Page 2485 for a distance of 57,50 leet; thence S
45"02'00" W for a distance 01 2,80 leet; thence N 44'58'00" E for a distance 01 92,33 feet to the SW'ly
right of way line 01 Salt Pond Road as platted and shown in the said diagram as recorded in Deed
Book '1", Page 389; thence S 41'27'42" E along the SW'ly right 01 way line 01 said Salt Pond Road as
platted and shown in the said diagram, for a distance of 2,51 feet to the SE,ly corner 01 the said lands
described in Olficial Record Book 379, at P/Jge 728; thence S 44'56'50" Wand along the said SE'ly
boundary line 01 tbe said l/Jnds described in Official Record Book 379, at. Page 728 for a distance 01
150,00 leet back to the Point 01 Beginning,
SPECIFIC PURPOSE SKETCH FOR: Key West Lodge No. 1760, Loyal Order 01 the Moose, lnc,;
L n 0 'Flynn. PSM
Flor da Reg, #6298
February 5, 2009
J . LYNN
A
O'FLYNN, Inc.
Profe..ional Surveyor &: Mapper
PSU *S89a
3430 Duck Ave., Key West. FL .33040
(305) 296-7422 FAX (305) 29ij-2244
l' 1. PURCHASE AND SALE:
Habitat for Humanity of Kev West and Lower Florida Kevs. Inc
("Buyer")
2' agrees to buy and
Monroe County Comprehensive Plan Land Authoritv
("Seller")
3' agrees to sell the property described as: Street Address:
4' 712-716 Eisenhower Drive and 703-705 Pearl Street, Key West, FL 33040
5' Legal Description: See Attachment A
6'
7' and the following Personal Property:
8'
9 (all collectively referred to as the "Property") on the terms and conditions set forth below. The "Effective Date" of this Contract is
10 the date on which the last of the Parties signs the latest offer. Time is of the essence in this Contract. Time periods of 5
11 days or less will be computed without including Saturday, Sunday, or national legal holidays and any time period ending on a
12 Saturday, Sunday or national legal holiday will be extended until 5:00 p.m, of the next business day.
13' 2. PURCHASE PRICE:
15' (b) Additional deposit to be made within
days from Effective Date
$ 1,000,000.00
$ 0.00
$ 0.00
$ 425.000.00
$ 575.000.00
$ 0.00
14' (a) Deposit held in escrow by
16' (c) Total mortgages (as referenced in Paragraph 3)
17' (d) Other:
30-vear zero-interest balloon mortgage loan from MCLA
18' (e) Balance to close, subject to adjustments and prorations, to be made with cash, locally drawn
19 certified or cashier's check or wire transfer.
20' 3. THIRD PARTY FINANCING: Within ---.L days from Effective Date ("Application Period"). Buyer will, at Buyer's expense, apply for
21' third party financing in the amount of $
425.000.00
or -1llk.t.. % of the purchase price to be amortized over a period of ~
22' years and due in no less than ~ years and with a fixed interest rate not to exceed O...mk.t-% per year or variable interest rate not
23' to exceed 0 mkt % at origination with a lifetime cap not to exceed mkt % from initial rate, with additional terms as follows:
24'
25 Buyer will pay for the mortgagee title insurance policy and for all loan expenses, Buyer will timely provide any and all credit,
26 employment, financial and other information reasonably required by any lender. Buyer will notify Seller immediately upon obtaining
27' financing or being rejected by a lender. If Buyer, after diligent effort, fails to obtain a written commitment~ 12/31/0~S)'B fl'<'Jl'l'l
28 .(C,#QQti' 'Q D(;lts ("Financing Period"), Buyer may cancel the Contract by giving prompt notice to Seller- 611-113 Qyyer'e 8813138it(e) v:ill 88
29 r8tl.lrtill!l9 ts iwyer itil SS88r881'188 'uitl<1 r61'61:!1'6131<1 8.
30' Buyer L-) L-) and Seller L-) L-) acknowledge receipt of a copy of this page, which is page 1 of 5 Pages.
CC-2 @ 1997 Florida Association of REALTORS@ All Rights Reserved ~ ~, e!
31' 4. TITLE: Seller has the legal capacity to and will convey marketable title to the Property by l& statutory warranty deed
32' U other , free of liens, easements and encumbrances of record or known to Seller,
33 but subject to property taxes for the year of closing; covenants, restrictions and public utility easements of record; and (list any
34' other matters to which title will be subject)
35'
36' provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the Property as
37' 11 residential dwellinq units
38' (a) Evidence of Title: Seller will, at (check one) ~ Seller's 0 Buyer's expense and within 5 days 0 from Effective Date
39' ~ prior to Closing Date 0 from date Buyer meets or waives financing contingency in Paragraph 3, deliver to Buyer (check one)
40' 0 a title insurance commitment by a Florida licensed title insurer and, upon Buyer recording the deed, an owner's policy in
41 the amount of the purchase price for fee simple title subject only to exceptions stated above.
42' Ji( aA El8strGlet of titlCl, I3r~ar8e er B~l"J~F1t S\,lr~18Rt BY an 8xi&tiR~ gJa&tra~ firr;t;l sr s8rtifieej as 98"8St BY ElR 8)(iEltiA~ firr;t;l,
43 I--lgl/'Ql'gr:, if ~\dglxl :<Ir:l ~b€tract i~ m~t .)':;lWiilt2lii tQ ~9119r, thiill :il ~FiQr g'^'Il'ir'i titlii r;;'QIiQ~' 2C<;:,g~t2bl'i tg tl::lQ W9~9€li9 il'li;\d~r :il~
44 . by'!,", t9r r'iiii'IIIr:)(',", ~f (,Q"iilril~ii Thiil priQr PQliclJ( "'i11 ir::l';:I' I&lIi CQ~iii€ Qf .11 ~glir,:~wxr;;g~tign~ :and all 61f"ls\ilt9 in :a fsrr;t;l\ilt
45 aCCg~t:<li;;JIIi t9 ilolY9r frgr:r;j tl::lli ~glig~' Qifiicti"Ii g~Ii ::<l1'l9 ggrtifigQ t9 ilolyer gr ilolyer'E Qlg&iR~ a~gRt tS~8tF1er with oOl3ies (Jf 011
46 dSSl"JFR9r::tte ~~teEl iA tAS wiGr r3Sliey BRS :A fR€) CJ/9aate. a copy of the commitment to insure title
into Seller.
47 (b) Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller of title
48 defects. Title will be deemed acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or (2) Buyer delivers proper
49' written notice and Seller cures the defects within ~ days from receipt of the notice ("Curative Period"). If the defects are
50 cured within the Curative Period, closing will occur within 10 days from receipt by Buyer of notice of such curing. Seller may
51 elect not to cure defects if Seller reasonably believes any defect cannot be cured within the Curative Period. If the defects are
52 not cured within the Curative Period, Buyer will have 10 days from receipt of notice of Seller's inability to cure the defects to
53 elect whether to terminate this Contract or accept title subject to existing defects and close the transaction without reduction in
54 purchase price. The party who pays for the evidence of title will also pay related title service fees including title and abstract
55 charges and title examination.
56 (c) Survey: (check applicable provisions below)
57' 0 Seller will, within _ days from Effective Date, deliver to Buyer copies of prior surveys, plans, specifications, and
58' engineering documents, if any, and the following documents relevant to this transaction:
59' , prepared for Seller or in Seller's
60 possession, which show all currently existing structures,
61' J8l: Buyer will, at 0 Seller's MBuyer's expense and within the time period allowed to deliver and examine title evidence,
62 obtain a current certified survey of the Property from a registered surveyor. If the survey reveals encroachments on the
63' Property or that the improvements encroach on the lands of another, 0 Buyer will accept the Property with existing
64' encroachments 0 such encroachments will constitute a title defect to be cured within the Curative Period.
65 (d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress.
66 (e) Possession: Seller will deliver possession and keys for all locks and alarms to Buyer at closing, prior to Closing
Date
67' 5. CLOSING DATE AND PROCEDURE: This transaction will be closed in Monroe County, Florida on
68' or before the ,or within _ days from Effective Date ("Closing Date"), unless otherwise extended
69' herein.)l( Seller 0 Buyer will designate the closing agent. Buyer and Seller will, within 5 days fr.g~ IiiffQsti"9 Qat9, deliver to
70 Escrow Agent signed instructions which provide for closing procedure. If an institutional lender is providing purchase funds, lender
71 requirements as to place, time of day, and closing procedures will control over any contrary provisions in this Contract.
72 (a) Costs: Buyer will pay taxes and recording fees on notes, mortgages and financing statements and recording fees for the deed,
73 Seller will pay taxes on the deed and recording fees for documents needed to cure title defects, If Seller is obligated to discharge
74 any encumbrance at or prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances.
75 (b) Documents: Seller will provide the deed, bill of sale, mechanic's lien affidavit, assignments of leases, updated rent roll,
76 tenant and lender estoppel letters, assignments of permits and licenses, corrective instruments and letters notifying tenants of
77 the change in ownership/rental agent. If any tenant refuses to execute an estoppel letter, Seller will certify that information
78 regarding the tenant's lease is correct. If Seller is a corporation, Seller will deliver a resolution of its Board of Directors
79 authorizing the sale and delivery of the deed and certification by the corporate Secretary certifying the resolution and setting forth
80 facts showing the conveyance conforms with the requirements of local law, Seller will transfer security deposits to Buyer. Buyer
81 will provide the closing statement, mortgages and notes, security agreements and financing statements,
~
82' Buyer L-J L-) and Seller L-) L-J acknowledge receipt of a copy of this page, which is page 2 of 5 Pages.
83' (C) Taxes, Assessments, and Prorations: The following items will be made current and prorated J& as of Closing Date
84' lJ as of : real estate taxes, bond and assessment payments assumed by Buyer, interest,
85' rents, association dues, insurance premiums acceptable to Buyer, operational expenses and
86 If the amount of taxes and assessments for the current year cannot be ascertained, rates for the previous year will be used with due
87 allowance being made for improvements and exemptions. Seller is aware of the following assessments affecting or potentially
88' affecting the Property: none known
89 Buyer will be responsible for all assessments of any kind which become due and owing on or after Effective Date, unless the
90 improvement is substantially completed as of Closing Date, in which case Seller will be obligated to pay the entire assessment.
91 (d) FIRPTA Tax Withholding: The Foreign Investment in Real Property Act ("FIRPTA") requires Buyer to withhold at closing a
92 portion of the purchase proceeds for remission to the Internal Revenue Service ("I.R.S.") if Seller is a "foreign person" as defined
93 by the Internal Revenue Code, The parties agree to comply with the provisions of FIRPTA and to provide, at or prior to closing,
94 appropriate documentation to establish any applicable exemption from the withholding requirement. If withholding is required
95 and Buyer does not have cash sufficient at closing to meet the withholding requirement, Seller will provide the necessary funds
96 and Buyer will provide .proof to Seller that suc~ funds were properly remitted to the I.R.S.
97' 6. ESCROW: Buyer and Seller authorize Not ADDlicable
98' Telephone: Facsimile: Address:
99' to act as "Escrow Agent"
100' to receive funds and other items and, subject to clearance, disburse them in accordance with the terms of this Contract. Escrow
101' Agent will deposit all funds received in 0 a non-interest bearing escrow account 0 an interest bearing escrow account with
102' interest accruing to with interest disbursed (check one) 0 at closing
103' 0 at intervals. If Escrow Agent receives conflicting demands or has a good faith doubt as to Escrow
104 Agent's duties or liabilities under this Contract, he/she may (a) hold the subject matter of the escrow until the parties mutually
105 agree to its disbursement or until issuance of a court order or decision of arbitrator determining the parties' rights regarding the
106 escrow or (b) deposit the subject matter of the escrow with the clerk of the circuit court having jurisdiction over the dispute. Upon
107 notifying the parties of such action, Escrow Agent will be released from all liability except for the duty to account for items
108 previously delivered out of escrow. If a licensed real estate broker, Escrow Agent will comply with applicable provisions of Chapter
109 475, Florida Statutes. In any suit or arbitration in which Escrow Agent is made a party because of acting as agent hereunder or
110 interpleads the subject matter of the escrow, Escrow Agent will recover reasonable attorneys' fees and costs at all levels, with
111 such fees and costs to be paid from the escrowed funds or equivalent and charged and awarded as court or other costs in favor
112 of the prevailing party. The parties agree that Escrow Agent will not be liable to any person for misdelivery to Buyer or Seller of
113 escrowed items, unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence.
114 7. PROPERTY CONDITION: Seller will deliver the Property to Buyer at the time agreed in its present "as is" condition, ordinary
115 wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition. Seller makes no warranties
116 other than marketability of title. By accepting the Property "as is," Buyer waives all claims against Seller for any defects in the
117 property. (Check (a) or (b))
118' 1&1 (a) As Is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its "as is" condition.
119' 0 (b) Due Diligence Period: Buyer will, at Buyer's expense and within days from Effective Date ("Due Diligence Period").
120 determine whether the Property is suitable, in Buyer's sole and absolute discretion, for Buyer's intended use and development of
121 the Property as specified in Paragraph 4. During the Due Diligence Period, Buyer may conduct any tests, analyses, surveys and
122 investigations ("Inspections") which Buyer deems necessary to determine to Buyer's satisfaction the Property's engineering,
123 architectural, environmental properties; zoning and zoning restrictions; flood zone designation and restrictions; subdivision
124 regulations; soil and grade; availability of access to public roads, water, and other utilities; consistency with local, state and regional
125 growth management and comprehensive land use plans; availability of permits, government approvals and licenses; compliance with
126 American with Disabilities Act; absence of asbestos, soil and ground water contamination; and other inspections that Buyer deems
127 appropriate to determine the suitability of the Property for Buyer's intended use and development. Buyer shall deliver written notice
128 to Seller prior to the expiration of the Due Diligence Period of Buyer's determination of whether or not the Property is acceptable,
129 Buyer's failure to comply with this notice requirement shall constitute acceptance of the Property in its present "as is" condition,
130 Seller grants to Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Due Diligence
131 Period for the purpose of conducting Inspections; provided, however, that Buyer, its agents, contractors and assigns enter the
132 Property and conduct Inspections at their own risk. Buyer shall indemnify and hold Seller harmless from losses, damages, costs,
133 claims and expenses of any nature, including attorneys' fees at all levels, and from liability to any person, arising from the conduct of
134 any and all inspections or any work authorized by Buyer. Buyer will not engage in any activity that could result in a mechanic's lien
135 being filed against the Property without Seller's prior written consent. In the event this transaction does not close, (1) Buyer shall
136 repair all damages to the Property resulting from the Inspections and return the Property to the condition it was in prior to conduct of
137 the Inspections, and (2) Buyer shall, at Buyer's expense, release to Seller all reports and other work generated as a result of the
138 Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seller agrees that Buyer's deposit shall be
139 immediately returned to Buyer and the Contract terminated.
~
140' Buyer L-) L-) and Seller L-J L-l acknowledge receipt of a copy of this page, which is page 3 of 5 Pages.
141 (C) Walk-through Inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the parties,
142 conduct a final "walk-through" inspection of the Property to determine compliance with this paragraph and to ensure that all
143 Property is on the premises,
144 (d) Disclosures:
145 1. Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient
146 quantities, may present health risks to persons who are exposed to it over time, Levels of radon that exceed federal and state
147 guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained
148 from your county public health unit
149 2. Energy Efficiency: Buyer may have determined the energy efficiency rating of the building, if any is located on the Real
150 Property,
151 8. OPERATION OF PROPERTY DURING CONTRACT PERIOD: Seller will continue to operate the Property and any business
152 conducted on the Property in the manner operated prior to Contract and will take no action that would adversely impact the
153 Property, tenants, lenders or business, if any, Any changes, such as renting vacant space, that materially affect the Property or
154' Buyer's intended use of the Property will be permitted 0 only with Buyer's consent)g without Buyer's consent
155 9. RIiiTURN.or; CEiPOiIT: Ur.119s~ sthQr'Ni&Q s~iMlifieg ir;! tl:1Q CQr.1tFiaQt, in the 9'.'(;lIil" 9Flj' @sngitislil sf this Csntrast is r10t met ami
156 ~'Iy"r 1:1:;l~ tirnlilly gi"liln :&Rj' rQ!;;J' lirlilg m~ticli nil~(iirging thli ~gr::lgitign !;]~'iRg r::lQt 9QQR ~Qt, iwyar'E gQ~QElit v:i11139 mt\,Jflilge ilil
157 ClQQ9r;g(iir;!QQ "'itR g~~IiQaI319 j;lliriea lawe @m:] r8~\"lIElti9I"1s.
158 10. DEFAULT:
159 (a) In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make the title
160 marketable after diligent effort, Buyer may 8it~8r (1) r880i\'e S r8f~l"1a af 8ll1yer'e ael366itfe) 61' (2) seek specific performance, if-
161 81:1yer 61eota a ael"l6sit rElf~~a, Seller will 138 lisBle to BrslHilltfer tl<1e f(,lll 6lmElloomt of tAB I3fBI~Bf8.~e fElG,
162 (b) In the event the sale is not closed due to any default or failure on the part of Buyer, Seller may 8it~8r (1) fl3tail"l all 8sI388it(s)
163 \<IBid gr El!!jfElEl8 tEl l3e [36Me lay 81:1yer BB 9.~n;l89 1d\<l0n IiE\YisBtB8 eBm9.~9S, 99R~;gerg.ti9R f9r tt:\e Qxe9\,1ti9r.1 sf tt:\is CSRtr:&ct, ~ng iR
164 fl'jll Mttl a 1"1'I el ,t ef BPI] 6IBil'I'l(,!, 1:11361"l w~ie'" tRia CI9AtrElElt '1:i11 t8rRililil8t8 81' (~) seek specific performance. If Eeller fetail"lEl tAS
165 r;;jg~6i'hit, iallar "'illli'l9.Y tl:19 liEltir.1g Br.19 CS8~9rg.tir;!g Elr;eI~9n;; n9.FFl9g in P9.F9.€lr:a~1112 fift'/ ra8r00Flt of all f0r;f0it88 8ClpesitEl f8taiFlEl8
166 t!l'/ Eeller (-1:8 B8 split 0qus.lly aRilGA~ tR6 Bfsl(sfEl) UI"l te tl"18 f~II6.l'I'Ist1l"lt of tR0 6rel(el'6.~e foc;,
167 11, ATTORNEY'S FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract, the prevailing party,
168 which for purposes of this provision will include Buyer, Seller and Broker, will be awarded reasonable attorneys' fees, costs and
169 expenses.
170
171
172'
12. BROKERS: Neither Buyer nor Seller has utilized the services of, or for any other reason owes compensation to, a licensed
real estate Broker other than:
(a) Listing Broker: None
who is 0 an agent of 0 a transaction broker 0 a nonrepresentative
and who will be compensated by 0 Seller 0 Buyer 0 both parties pursuant to 0 a listing agreement 0 other (specify)
173'
174'
175'
176'
177'
178'
179'
180'
181'
182'
183'
184'
185 (collectively referred to as "Broker") in connection with any act relating to the Property, including but not limited to inquiries,
186 introductions, consultations and negotiations resulting in this transaction. Seller and Buyer agree to indemnify and hold Broker
187 harmless from and against losses, damages, costs and expenses of any kind, including reasonable attorneys' fees at all levels, and
188 from liability to any person, arising from (1) compensation claimed which is inconsistent with the representation in this Paragraph, (2)
189 enforcement action to collect a brokerage fee pursuant to Paragraph 10, (3) any duty accepted by Broker at the request of Buyer or
190 Seller, which duty is beyond the scope of services regulated by Chapter 475, F.S., as amended, or (4) recommendations of or services
191 provided and expenses incurred by any third party whom Broker refers, recommends or retains for or on behalf of Buyer or Seller.
(b) Cooperating Broker: None
who is 0 an agent of 0 a transaction broker 0 a nonrepresentative
and who will be compensated by 0 Buyer 0 Seller 0 both parties pursuant to 0 an MLS or other offer of compensation to a
cooperating broker 0 other (specify)
192' 13. ASSIGNABILITY; PERSONS BOUND: This Contract may be assigned to a related entity, and otherwise)g is not assignable
193' 0 is assignable. The terms "Buyer," "Seller" and "Broker" may be singular or plural. This Contract is binding upon Buyer, Seller
194 and their heirs, personal representatives, successors and assigns (if assignment is permitted).
~
195' Buyer L-J L-J and Seller L-J L-) acknowledge receipt of a copy of this page, which is page 4 of 5 Pages,
196 14. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to this Contract):
197' 0 Arbitration 0 Seller Warranty 0 Existing Mortgage
198' 0 Section 1031 Exchange 0 Coastal Construction Control Line ~ Other Attachment A
199' 0 Property Inspection and Repair 0 Flood Area Hazard Zone :l5 Other Attachment B
200' 0 Seller Representations 0 Seller Financing 0 Other
201 15. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and Seller. Modifications of
202 this Contract will not be binding unless in writing, signed and delivered by the party to be bound. Signatures, initials, documents
203 referenced in this Contract, counterparts and written modifications communicated electronically or on paper will be acceptable for
204 all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted in or attached to this Contract prevail
205 over preprinted terms, If any provision of this Contract is or becomes invalid or unenforceable, all remaining provisions will continue
206 to be fully effective. This Contract will be construed under Florida law and will not be recorded in any public records. Delivery of any
207 written notice to any party's agent will be deemed delivery to that party.
208 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY
209 PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL FACTS AND REPRESENTATIONS THAT ARE
210 IMPORTANT TO THEM AND TO CONSULT AN APPROPRI~rE PROFESSIONAL FOR LEGAL ADVICE (FOR EXAMPLE,
211 INTERPRETING CONTRACTS, DETERMINING THE EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF
212 TITLE, FOREIGN INVESTOR REPORTING REQUIREMENTS, ETC.) AND FOR TAX, PROPERTY CONDmON, ENVIRONMENTAL AND
213 OTHER SPECIAUZED ADVICE. BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUpy THE PROPERTY AND THAT ALL
214 REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON SELLER REPRESENTATIONS OR PUBUC
215 RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF THE REPRESENTATION. BUYER AGREES TO RELY
216 SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND GOVERNMENTAL AGENCIES FOR VERIFICATION OF THE PROPERTY
217 CONDmON, SQUARE FOOTAGE AND FACTS THAT MATERIALLY AFFECT PROPERTY VALUE.
218' DEPOSIT RECEIPT: Deposit of $
219'
220
0.00
byO
by
check 0 other
received on
Signature of Escrow Agent
221 OFFER: Buyer offers to purchase the Property on the above terms and conditions. Unless acceptance is signed by Seller and a
222' signed copy delivered to Buyer or Buyer's agent no later than 0 a.m. 0 p.m. on
223 Buyer may revoke this offer and receive a refund of all deposits.
224' Date:
BUYER:
Tax 10 No:
225'
226'
Title:
Address:
Executive Director Telephone: 305 684-1252 Facsimile:
Habitat for Humanity of Key West and Lower Florida Keys. Inc.
227' Date:
BUYER:
Tax 10 No:
228'
229'
Title:
Address:
Telephone:
Facsimile:
230' ACCEPTANCE: Seller accepts Buyer's offer and agrees to sell the Property on the above terms and conditions (0 subject to the
231 attached counter offer).
232' Date: SELLER:
233' Title:
234' Ad dress:
235' Date: SELLER:
236' Title:
237' Address:
Tax 10 No:
Chairman Telephone: 305 295-5180 Facsimile:
Monroe County Comorehensive Plan Land Authoritv
Tax 10 No:
Telephone:
Facsimile:
238' Buyer L-J L-J and Seller L-J L-l acknowledge receipt of a copy of this page, which is page 5 of 5 Pages.
The Florida Association of REALTORS makes no representation as to the legal validity or adequacy of any provision of this form in any specific transaction, This
standardized form should not be used in complex transactions or with extensive riders or additions, This form is available for use by the entire real estate industry
and is not intended to identify the user as a REALTOR. REALTOR is a registered collective membership mark which may be used only by real estate licensees who are
members of the NATIONAL ASSOCIATION OF REALTORS and who subscribe to its Code of Ethics,
The copyright laws of the United States (17 U,S, Code) forbid the unauthorized reproduction of this form by any means including facsimile or computerized forms,
CC-2 @ 1997 Florida Association of REALTORS@ All Rights Reserved ~
ATTACHMENT A
All of ~ot 2 and part of Lot 1 of
Square 1 of Tract 7, 011 according to
ALBURX'S SUBDIVISION of part of
Tract 7, according to the Plat thereof,
recorded in Deed Book "I", page 389 in
the -Public Records of Monroe County,
Florida, and baing mo~e particularly
de~ctiDed as follows:
BEGINNING at the. Southweste'c!y
Right-of-Way Line of EISENliOm;R,
DRIVE 8S existing and conattucteCl
and the Northwesterly' Ri9ht~of-Way
Line of NEWTON STREET: thenco
N 44045107" W along the slid
Southwesterly Right-of-Way Line of
EISENHOwnR DRIVE for 98.90 feet;
thence N 44058jOO" W for 179.48
feet to th* Northwesterly
Right-.of -Way Line of P~RL STREET..1:
thencfI S 41021'11" E along the liIa~
Northeasterly Right-of-Way Line ~
PEARL STREET for 99. 00 ~eet to the
said Northwesterly Right-of-W~_
Line of NEWTON STREET; thenq~.
N 44059' 53- E along the sas;a:
Northwest$tly . Right-of-Way Line Q~:
NEWTON ST~EET, for 185.35 feet to
the said Southwesterly Right-of-~'l8Y
Line of EISENHOWER DRIVE and the
Point at,. lSeginning. Containiny
18,040.84 Squar$'feet, More ot' Less.
Said premises being known as 716 EISENHOWER DRIVE.
Less and except the platted right-at-way ot Eisenhower Drive; and
Less and except the following parcel to be conveyed by the Estate of Robert William Townshend to
the Moose Lodge owner of record:
A parcel of land on the Island of Key West, known as part 01 Lot 1 01 Square 1, Tract 7,
according to Albury's Subdivision of part of Tract 7, as recorded in Deed Book "I': Page 389, in
the Public Records 01 Monroe County, Florida. said parcel being more particularly described as
foJJows:
COMMENCE at the intersection of the NE'ly right of way line 01 Pearl Street and the NW'Jy right
of way line of Newton Street and run thence N 41.27'42" W along the NE'ly right of way line of
the said Pearl Street for a distance of 99.00 feet to the NW'ly corner of lands described in
Official Record Book 1045. at Page 2485. as recorded in the Public Records of Monroe County.
Florida; thence N 44.S8'OO" E and along the NW'ly boundary line of the said lands as described
in omcial Record Book 1045. at Page 2485 for a distance of 57,50 feet to the Point of
Beginning; thence continue N 44.58'00" E and along the NW'ly boundary line of the said lands
as described in Official Record Book 1045, at Palle 2485 for a distance of 92,50 feet to the
SW'ly right of way line of Salt Pond Road as platted and shown in the said diagram as
recorded in Deed Book '1", Page 389; thence S 4r27'42" E alang the SW'ly right of way line af
Salt Pond Road as platted and shown in the said diagram. for a distance of 2.81 feet; thence
S 44.58'00" W for a distance 01 92.33 teet; thence N 45.02'00" W for a distance 01 2,80 feet
back to the Point of Beginning,
ATTACHMENT B
Buyer and Seller are working in partnership to acquire the subject property as an affordable housing
site. Notwithstanding any provision of this Agreement to the contrary, the closing of this transaction is
subject to each of the following contingencies.
a) The simultaneous closing of Seller's purchase of the subject property from Robert T. Feldman as
Personal Representative of the Estate of Robert William Townshend and Seller's sale of the
subject property to Buyer.
b) Buyer accepting title subject to deed restrictions in favor of Seller restricting use of the property to
affordable rental housing, Said restrictions will include the following language:
1, Term. These affordability covenants are perpetual, run with the land, and are binding on all
present and subsequent owners and mortgagees.
2, Propertv Use. Use of the property shall be restricted to the provision of affordable rental
housing as defined in section 380.0666(3), Florida Statutes, as said statute may be amended
from time to time.
3. MonitorinQ. Grantee is responsible for ensuring compliance with the affordability covenants
contained herein and expressly agrees to furnish, upon Grantor's request, written certification
thereof.
In the event the above contingencies and all other contingencies in this Agreement are not
satisfied and the transaction is not closed on or before December 31, 2009, either party shall have
the right to terminate this Agreement by providing written notice, at which point both parties shall
be released of all further obligations under this Agreement