Fla. Admin. Code Ann. R. 66B-3.012 - Closing

(1) The Executive Director shall have the authority to modify the purchase instrument previously approved by the Board to extend the time for purchase, closing date, submittal deadlines or any other time limit relating to such agreement, provided the total extension of time for closing does not exceed one hundred and eighty (180) calendar days after the date contemplated in the purchase instrument approved by the Board. The Executive Director shall also have the authority to execute or modify all documents necessary for the implementation of Board action, including without limitation the purchase agreement, exchange agreement, leases, easements, legal descriptions, deeds, assignments, title policies and other miscellaneous agreements and affidavits, provided the modification does not change the substance nor the scope of Board approval, and provided the document executed or modified was either approved by the Board or contemplated by Board approval. Any changes in the purchase price to be paid to the seller not contemplated by the terms of the purchase instrument must be approved by the Board. An extension or modification may only be made under the terms of the purchase instrument, or with the seller's agreement.

(2) The District shall obtain all disclosures of beneficial interest required in Section 286.23 F.S., before entering into a purchase instrument. All other disclosures shall be obtained no later than ten (10) days prior to closing. Appropriate disclosures shall be filed with the Department of State as required by law. Disclosures not required by statute shall be waived by the Board in the case of acquisitions of property for a price of $250,000 or less where the Board finds that the difficulty on the person providing such disclosures outweighs the value of the disclosed information to the District.

(3) The District shall be responsible for proper completion of the closing, proper recordation of all legal documents and payment of required fees.

(4) All original documents including recorded documents shall be forwarded to the District within thirty (30) days after receipt by the acquiring agency from the county clerk or closing agent. All such documents shall be accompanied by a written signed statement from the acquiring agency indicating that all documents have been approved as to form and legality by the attorney for the District.

Notes

Fla. Admin. Code Ann. R. 66B-3.012

Rulemaking Authority 374.984(3) FS. Law Implemented 374.984(1)-(3) FS.

New 8-17-99.

New 8-17-99.