Escrow and adjustment agreement - 1980-08-01


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Escrow and adjustment agreement - 1980-08-01

Material Information

Title:
Escrow and adjustment agreement - 1980-08-01
Publication Date:
Language:
English
Physical Location:
Box 2

Subjects

Subjects / Keywords:
Ranchers -- Law and legislation -- Florida
Okeechobee, Lake (Fla.) ( lcsh )

Record Information

Source Institution:
University of South Florida
Holding Location:
University of South Florida
Rights Management:
The University of South Florida Libraries believes that the Item is in the Public Domain under the laws of the United States, but a determination was not made as to its copyright status under the copyright laws of other countries. The Item may not be in the Public Domain under the laws of other countries.
Resource Identifier:
035069031 ( ALEPH )
981477171 ( OCLC )
L41-00102 ( USFLDC DOI )
l41.102 ( USFLDC Handle )

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Book

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Full Text

PAGE 1

( ( . ( r-.. _ ESCH.OW AND ADJUS'l'MENT AGREEMENT 'l'IIIS AGREEMENT is intended to .surv.Lve the closing of the purchase . ;, y the NA'rIONAL 1\UDUDON SOCIETY of nine (9) contig~ou~ section _ ~ .deeded by . I I I :co m:v1::LOPMEN'l' CORPORATION to THE NATURE . CONSERVJ}.11C at the direction .t DOYI.J~ E. CARLTON, JR, and MILDRED CARLTON, his wife; DOYLE E. CARLTON , III, . rnd L>I:.uW\ H. CARLTON, his wife; OONALD E, SMITH and SUSAN C. SMITH, his wife; und D,\\/TD M. DURANDO and JANE CARLTON DURANDO, his wife, hereinafter referred to il$ J\RLTONS". rhe NATIONAL AUDUBON SOCIETr and THE NATURE CONSERVANCY participated _ .11 Li,.• • ,, . u..:ti~:-;,.: of tnis property pursuant to the Contract of Sale agreeing . o pay the sum of $585.00 per acre -at a time there . was believed to be between t,070 and 6,090 acres. A closing was effe cted on the basis of 6,070 acres ,lthouyh l"le:=tcher a:rown, a~. attorney for the Carltons and escrow agent for the . ,l\'l'lONi\l, AUDU~ON SOCIETY and .'l'HE NATURE CONSERVANCY received fwids sufficient r• ~ -• o purchase 6, O~O acres. Such excess fwids are to be held by Fletcher Brown .,t intt•rest pending the completion of a survey demonstrating an accurate •{Uc .. rnt"urr, of acreage in the tract:. Upon receipt of such information, the fin~l urch,1~~0 price shall be adjusted upward or downward according to the contract .nd U11 Curltvns agree to refund at the rate of $5135.00 per ' acre the number of A0llar~ by which a shortage of acreage is determined. In addition, shoul~ l11' n.' be less than 6,070 acres, Fletcher Brown is directed to forthwith pay all . .i\.'.z uw 111onies over to the NJ\TIONAL AUDUBON SOCIETY or THE NATURE CONSERVANCY as ' . _ . is (iirected by them. In the event that acreage is calculated to be in . .1.v, ~;:.; l. f G, u70 acres, then an adj us trnent shall be made upward so far as the ~c:ruv-1 . und::; will permit to reflect acreage in excess of 6,070. In the event ... . .li...1. l t ' ; • escrow funds ure insufficient to fully pay for such excess agreage, Ll....:!1 1 , . Carl Luns aqree to give the NATIONAL AUDUBON SOCIETY one year within ,,11 ic:h to PiJY such C!Xcess at zero per cent (0\) interest per annum, secured only ,., ,1 1 ,Jmissory not<::. . I. I '. . . . . . _ .. . .. • ";

PAGE 2

( . . . ' .. r--.. ( 'l'hu ingrt:}~S and egress to be granted by the Carl tons t9 the NATIONAL J\UOUBON SOCIETY, pursuant to the contract, is affirmed by the Carl tons; . . howcvP.r, the actual grant, insofar as legal description is concerned, is not . . . ready for rucordation due to the inability to identify the off Cariton land con icloJ:. /\s soon as this has been identified, the Grant of Easement held in e!ici-ow by Fletcher Brown will be recorded. The Board of County Commissioneers of Okeechobee County has in its poss~ssion a fully executed deed which would convey a corridor to the county for roa<.l righty of way two (2) miles eastward to the Carlton proper . ty at the point where a.~outhern right of way could be granted. The Board of County . . .. Comm lssionl!rS will . consider recording that deed on Aug . ust 14, 1980, and the purl.1.es will cooperate .. to encourage the County to accept and record those deeds. . . . IN WITNESS WHEREOF, the parties have set their hands and seals this. fir~~ day of August, 1980. Siqn0d, ~~~led and delivered in uUL l."L!SCllCC: •, ~ATIONAL Jt00UBO _ N SOCIETY, INC. , . __ \~ '. ----FLETCHER BROWN, as Attorney for Carltons , : ..


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