Lake Worth buying back the Chamber building

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We are finally getting our building back-- Read my blog from September 2014.

Back in early 2012, the Lake Worth Chamber of Commerce owed us $10,662.83 that included a "missing" golf cart. The commission directed the acting city manager to settle with the Chamber at 50 cents on the dollar because it was a debt under $15,000 and the acting city manager had "the right" to do that.

PURCHASE AND SALE AGREEMENT (on Tuesday night's agenda)

This Purchase and Sale Agreement (this “Agreement”) is made this _____ day of
____________, 2016, by and between Palms West Chamber of Commerce, Inc., d/b/a Central Palm Beach County Chamber of Commerce (“Seller”), and City of Lake Worth, a Florida municipal corporation (“Buyer”). Seller and Buyer may be referred to in this Agreement individually as a “Party” or collectively as the “Parties.”

WI T N E S S E T H:
Seller is the owner of certain property consisting of approximately 0.1860 acres located at 501 Lake Avenue, Lake Worth, FL 33460, which is described on Exhibit A attached to and by reference made a part of this Agreement (the “Property”). The Parties agree to the sale and purchase of the Property on the terms and conditions which are set forth in this Agreement. The Effective Date of this Agreement shall be the date upon which the Buyer’s City Commission approves last Party fully executes this Agreement (the “Effective Date”) and that date shall be inserted in the blank space at the top of this page.

In consideration of the mutual promises and agreements contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties mutually agree as follows:

1. PURCHASE AND SALE
1.1 Subject to all of the terms and conditions of this Agreement, Seller will sell the Property to the Buyer and the Buyer will purchase the Property from the Seller, together with all appurtenances, rights, easements, rights of way, permits, licenses and approvals incident or appurtenant to the Property.

2. PURCHASE PRICE
2.1 The purchase price for the Property is Two Hundred Fifty Thousand Dollars ($250,000) (the “Purchase Price”), subject to the adjustments and prorations as set forth in this Agreement.

2.2 Payment. Payment of the Purchase Price is to be made as follows:
A. Buyer shall deliver an initial earnest money deposit of Twenty-Five
Thousand Dollars ($25,000) (the “Initial Deposit”) to Gonzalez, Shenkman & Buckstein, P.L., (the “Escrow Agent”) within five (5) business days after the Effective Date.

B. Buyer shall deliver an additional earnest money deposit of Twenty-Five Thousand Dollars ($25,000) to the Escrow Agent (the “Additional Deposit”) within ten (10) business days after the Effective Date.

C. At Closing, Buyer shall deliver to Escrow Agent, acting as the “Closing Agent”, the balance of the Purchase Price, subject to adjustment for the prorations as provided...

The Agenda. Go to page 206 to read about the sale and the complete agreement.