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513483
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SPECIAL WARRANTY DEED ~
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THIS INDENTURE, Made this.,. ~h, a day of~r.•~1~23~?~~J-e~. , A. D. 1980,
by•FLORIDA EAST COAST RAILWAY COMPANY, a Florida corporation, with its principal office
and place of business in St. Augustine, St. Johns County, Florida and its Post Office
address being P. 0. Drawer 1048, St. Augustine, Florida 32084, hereinafter called
"Grantor" to CODISCO, INC., a Florida corporation, with its Post Office Address being
2694 Flightline Avenue, Sanford Airport, Building 297, Sanford, Florida 32771,
hereinafter called "Grantee",
WITNESSETH:
That Grantor, for and in consideration of the_sum of Ten Dollars (s10.00) to
it in hand paid by said Grantee, the receipt whereof is hereby acknowledged, has
granted, bargained and sold to Grantee, its successors and assigns, forever, the
following described land in St.~Lucie County, Florida, to-wit:
-A parcel of land lying in the Southwest one-quarter of Section
31, Township 35 South, Range 40 East, St. Lucie~County, Florida,
and being more particularly described as follows:
Comnence at the Northwest corner of said Section 31; thence
run S. 890 47' S1" E. along the north line of said.Section
31, for a distance of 2598.21 feet to the west r~ght-of-way line
of Canal No. 99; thence run S. 0° 14' 21" N. along the West
right-of-way line of Canal No. 99 for a distance of 2074.27 feet
to the northwesterly right-of-way line of Glades Cut-off Road;
thence run S. 44° 56' 07" W. along the northwesterly right-of-
way line of Glades Cut-Off Road, for a distance of 2589.04 feet
to the Point of Beginning of said parcel of lan'd; thence,
continue S. 44° 56' 07" W. along the northwesterly right-of-way
line of Glades Cut-Off Road for a distance of 200 feet; thence,
run N. 45~ 03' S3" W. for a distance of 400 feet; tlience run N.
44~ 56' 07" E. for a distance of 200 feet; thence run S. 45~ 03'
53" E. for a distance of 400 feet to the Point of Beginning.
Containing 80,000 square feet, more or 1ess.
Subject to all existing dedications and easements of record.
AND Grantor does hereby warrant the title to said land and will defend same
against the lawful claims of all persons claiming by, through or under said Grantor,
its successors and assigns, and not otherwise.
Subject to the covenants, restrictions and agreements as follows:
Grantee agrees for itself and its successors and assigns, unto ~nd witfi Grantor,
its success.ors and assigns, as a covenant running with the land and as a part of the
consideration for this conveyance, said covenant being evidenced by the acceptance
and recordation of this deed by Grantee that said premises conveyed will be utilized ~
for and in connection with the construction thereupon of a substantial warehouse
building or structure having an area of not less than twelve thousand (12,000) square
feet, for use or to be used by Grantee, in its business of warehousing and distribution
of building materials. Grantee agrees further that Grantor shall have and hereby
reserves the right to repurchase said land and.property at and for the price of
Thirty-One Thousand One Hundred Ten Dollars (~31,110.00) if within eig hteen (18) months
next ensuing from and after the~date of this conveyance the Grantee or its successors
or assigns fail to use the premises for the purpose aforesaid on if, prior to the
construction of said warehouse, during that eighteen ~(18) month period the land
and property or any part thereof becomes subject to any condemnation proceeding. Said
right of repurchase being hereby reserved and to continue for one (1) year after the
expiration of said eighteen (18) month period; Grantee hereby covenanting for itself
and its successors and assigns that it will, upon the accrual of said right of
repurchase, and upon being notified~in writing of the election of Grantor to exercise
the same, promptly make or cause to be made said reconveyance to Grantor, or its
nominee, in accordance with the terms hereof, by good and sufficient deed conveying
the full title to said prnperty, free of liens and encumbrances, and with special
warrarrty of ti tl e.
Lawrence J. Phalin
Mateer, Harbert, 6echtel & Phalin. P.J~,
P. 0. Box 2854
1~~~~ y' Orlan~o, Florida 32802 ~ g~flx346 PdGE194fi