HomeMy WebLinkAbout0915 th~ closing of the Exhibit "A" contract, the Trustee will, in
conjut~ction wittl the seller of the pr~perty~ end~avor to obtain a
release of the ri~ht-of-way from the Trustees of the Internal
Improvement Fund. In the event that the Trustee is unable to
obtain said release, the Trustee and the beneficiaries of Parcel
' B agree that they will convey to TREASURE COAST tJEINER KING ~tl,
L'TD., the norther~lmost 50 feet of Parcel B. In the~event that the
Trustee is only able to obtain a partial release of the above
described road easement, the Trustee and the beneficiaries of
Parcel ~3 agree to convey such portion of Parcel B.computed on the
f~ollowing basis: b7 feet minus the number of feet partially released
fram the easer.ient = the number of feet of the northernmost section of
P~ircel B to be conveyec' . For ~xample, if the Trustees of the
Int~ernal Improvement I~u:~d i,rould agree to release 50 feet of their
100 foot easement, the ':r~stee would convey the northernmost 17
f~et oi Parcel B to TREASURE COAST WEINER KING ~tl, LTD., provided~
however, that in no event shall the Trustee or the beneficiaries
of Parcel B be rc~quir~d to convey more than the northernmost SO
f~et of~ Yarcel
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` 1!{. EXCLU5IV~ RIGHT ~OF SALE. The Trustee agrees that
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he will e::ecute an exclLSive right of sale for Che Parcel B and
Parcel C~roperty to JA'-~S N. PRUITT REAL ~STATE, INC., in
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E ~lccordance caith t.-~4 ter-s of Exhibit "C" attached hereto and .made
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~ a part hereo~ at tiie ti:~e of closir.g of the contract described in
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3 Exhibit "A".
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' 15. INCO:~ ~`u~D EXPENSE. The Trustee shall maintain
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; aecurate books oi all e:~~enses and incomes of the trust which
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~ sizull be uvu~laLle for inspection by any ~~neficiary at all
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~ r~asonabic times. AlI :ncome and expenses of the trust shall be
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reported ~uarterly to each beneficiary hereunder for inclusion
: i~n the beneficiary's personal tax return ~
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~ ° R 29? PA~E 91~
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