Fla. Admin. Code Ann. R. 62-817.014 - Closing
(1) Prior to closing the Trust shall prepare
a grant reconciliation statement which shall evidence expenditures for all
eligible project costs for the portion of the project to be closed. The
reconciliation statement shall be based on the prepared buyer and seller
closing statements, the prepaid project costs of the recipient and the Trust
evidenced by paid receipts, any reimbursements to the seller or others to be
made after closing, the grant award amount and any revisions to the award. The
reconciliation statement shall evidence the amount of funds needed from the
Trust and recipient in order that the closing may occur.
(2) The Trust Executive Director shall have
the authority to modify the purchase agreement previously approved by the Trust
to extend the time for option exercise, closing date, submittal deadlines or
any other time limit relating to such agreement, provided the total extension
of time for closing does not exceed 180 calendar days after the date
contemplated in the purchase instrument approved by the Trust. The Executive
Director shall also have the authority to execute or modify all documents
necessary for the implementation of Trust action, including but not limited to
the purchase agreement, letter of notification of exercise of option, leases,
easements, legal descriptions, deeds, assignments, and other miscellaneous
agreements and affidavits, provided the modification does not change the
substance nor the scope of Trust approval, and provided the document executed
or modified was either approved by the Trust or contemplated by Trust approval.
Any changes in the purchase price to be paid to the owner not contemplated by
the terms of the purchase agreement must be approved by the Trust. An extension
or modification may only be made under the terms of the purchase agreement, or
with the owner's agreement.
(3) The
party responsible for negotiations shall have obtained all disclosures of
beneficial interest required in Section
286.23, F.S., and those required
by Section 380.08(2),
F.S., before entering into a purchase agreement. All other disclosures shall be
obtained no later than 10 days prior to closing. Appropriate disclosures shall
be filed with the Department of State as required by law. Disclosures not
required by statute may be waived by the Executive Director in the case of
acquisitions of property for a price of $250, 000.00 or less where the
Executive Director finds that the difficulty on the person providing such
disclosures outweighs the value of the disclosed information to the Trust or
the acquiring agency. The following information shall also be included in the
statement supplied by the owner no later than 10 days prior to closing:
(a) The total amount of any finder's fee,
real estate commission or other similar commission, including a statement as to
whom those fees will ultimately be paid;
(b) The total amount of the attorney's fees
paid to the owner's attorney, including a statement as to whom these fees will
ultimately be paid;
(c) The amounts
of other costs incidental to the sale, indicating to whom these sums have been
or are to be paid.
(4)
The party responsible for negotiations shall be responsible for proper
completion of the closing, proper recordation of all legal documents and
payment of required fees.
(5) Time
and place of closing shall be determined in the purchase agreement negotiated
with the owner.
(6) The Trust shall
prepare a grant agreement for execution by the Trust and the recipient and for
recording at the time of closing and conveyance of title to the recipient,
pursuant to Section 380.510(4),
F.S. The recordable grant agreement shall restate conditions that were placed
on the project site at the time of project selection and initial grant approval
and that shall take effect upon conveyance of title to the recipient.
(7) A copy of all original documents,
including recorded documents, shall be forwarded to the Trust and the recipient
within 30 days after receipt from the closing agent by the party responsible
for acquisition activities. All such documents shall be accompanied by a
written statement signed by the recipient indicating that all documents have
been approved and accepted by the recipient as to form and legality.
(8) Any reimbursements associated with the
project closing will be made according to the terms set forth in the document
describing such reimbursements.
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