Fla. Admin. Code Ann. R. 62-819.014 - 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 Site 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 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 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. The Trust shall also have the authority to
execute or modify all documents necessary for the implementation of Trust
action, such as 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 Seller(s) 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 Seller's agreement.
(3) The party responsible for negotiations
shall be the party responsible for proper completion of the closing, and proper
recording of all legal documents.
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