05-1589 CFE Land Swap - Laserfiche WebLink

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Drive extension in the area generally shown on the sketch attached as Exhibit "B" based on its fair market value as detennined by an appraisal to be obtained by the CITY. The property described in Exhibit "B" is approximately 6,307 square feet. To detennine the exact amount ofCFE's credit the CITY will set a price per square foot for the lot shown in Exhibit "B," and credit CFE 6,307 times that price per square foot, and apply that credit to the total cost of the lot generally shown on Exhibit "C." The CITY will transfer the property shown generally on Exhibit "C" by quit claim deed to CFE after final platting approval by the City Commission, and after the balance of the cost of the lot shown on Exhibit "c" is paid by CFE. The price for the lot generally shown on Exhibit "c" shall be its fair market value, as detennined by an appraisal to be obtained by the CITY. 3. The CITY agrees to pay all costs associated with these transfers including recording fees, and documentary stamps on the deeds and surveys. 4. The transfer ofthe Properties shall occur no later than thirty (30) days following the platting of the property shown on Exhibit "C." 5. The City Commission will approve the award of a construction contract for the realignment of North Winter Park Drive no later than June 1,2006. In the event the CITY does not award a construction contract for the realignment of North Winter Park Drive on or before June I, 2006, then the CITY shall deed the property described in Exhibit "A" back to CFE, and CFE shall simultaneously deed the property described in Exhibit "c" back to the CITY. The parties shall bear their own costs for said reconveyance. 5. The CITY hereby approves CFE's construction of a driveway connection ITom Helen Street to the proposed development known as Casselberry Commerce Village, as shown on the drawing attached as Exhibit "D." 6. Indemnification. CFE agrees to hold harmless, indemnify and defend the City, its Commissioners, officers, employees, agents and assigns against any and all claims, losses, damages or lawsuits for damages, arising in any way whatsoever ITom, allegedly arising ITom, or related to the construction of the driveway connection. 7. City Liabilitv. City is not liable to CFE for any damages to persons or property except when the damages are solely caused by the City's negligence. 8. This agreement shall not run with the land and shall not be recorded. 9. Further Assurances. Each party hereto agrees to sign any other and further instruments and documents, consistent herewith, as may be necessary and proper in order to give complete effect to the benefits deriving ITom the tenns and conditions of this Agreement 10. Amendment and Waiver. This Agreement may not be amended or modified at any time and or in any respect, nor may any provisions be waived, except by written instrument executed 2