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A G R E E M E N T
T H I S A G R E E M E N T m a d e t h i s 2 0 t h d a y o f N o v e m b e r , 1 9 7 4 ,
b y a n d b e t w e e n G U L F S T R E A M B A T H A N D T E N N I S C L U B , I N C . , a
n o n - p r o f i t F l o r i d a c o r p o r a t i o n , 9 2 5 N o r t h O c e a n B o u l e v a r d , T o w n
o f G u l f S t r e a m , F l o r i d a ; a n d , C A N D E L A R I A , I N C . , a F l o r i d a c o r p o r a -
t i o n , 2 4 1 1 N o r t h O c e a n B o u l e v a r d , T o w n o f G u l f S t r e a m , F l o r i d a .
W H E R E A S , G U L F S T R E A M B A T H A N D T E N N I S C L U B , I N C .
o w n s t h e f o l l o w i n g d e s c r i b e d p r o p e r t y :
L o t s 1 5 , 1 6 , 1 6 A , 1 7 A a n d t h a t p a r t o f
L o t 1 5 A l y i n g s o u t h o f t h e l i n e p a r a l l e l t o
! ! a n d 2 S . 0 f e e t s o u t h o f ( m e a s u r e d a t r i g h t
a n g l e s t o ) t h e n o r t h l i n e o f s a i d L o t 1 5 A ,
B l o c k D o f r e v i s e d p l a t o f B l o c k s D a n d E ,
P a l m B e a c h S h o r e s A c r e s a c c o r d i n g t o t h e p l a t
t h e r e o f o n f i l e i n t h e o f f i c e o f t h e C l e r k
o f t h e C i r c u i t C o u r t i n a n d f o r P a l m B e a c h C o u n t y ,
F l o r i d a , r e c o r d e d i n P l a t B o o k 7 , p a g e 3 8 .
A N D W H E R E A S , * C A N D E L A R I A , I N C . o w n s t h e f o l l o w i n g d e s -
c r i b e d p r o p e r t y :
T h a t p a r t o f L o t s 1 4 A a n d 1 5 A a c c o r d i n g
t o t h e r e v i s e d p l a t o f B l o c k " D " a n d B l o c k " E "
o f P a l m B e a c h s h o r e a c r e s , o n f i l e a n d o f
r e c o r d i n t h e o f f i c e o f t h e C l e r k o f t h e
C i r c u i t C o u r t i n a n d f o r P a l m B e a c h C o u n t y ,
F l o r i d a , i n P l a t B o o k 7 , p a g e 3 8 , b o u n d e d a s
f o l l o w s :
O n t h e N o r t h b y t h e n o r t h l i n e o f s a i d
L o t 1 4 A , o n t h e w e s t b y t h e w e s t l i n e o f L o t s
1 4 A a n d 1 5 A , o n t h e s o u t h b y a l i n e p a r a l l e l
t o a n d t w e n t y - f i v e f e e t ( 2 5 ' ) s o u t h o f ( m e a s u r e d
a t r i g h t a n g l e s ) t h e n o r t h l i n e o f s a i d * L o t 1 5 A ,
a n d o n t h e E a s t b y t h e w e s t b o u n d a r y l i n e o f t h e
r i g h t o f w a y o f O c e a n B o u l e v a r d ( S t a t e R o a d A I A ) .
A N D W H E R E A S , t h e r e p r e s e n t l y e x i s t s a n d h a s e x i s t e d
f o r m a n y y e a r s a s u r f a c e d r a i n a g e p r o b l e m c o m m o n t o b o t h o f t h e
a b o v e - d e s c r i b e d p r o p e r t i e s ;
A N D W H E R E A S , i t i s i n t h e c o m m o n a n d m u t u a l b e s t
i n t e r e s t s ' o f b o t h p a r t i e s h e r e t o t o s e e k a j o i n t s o l u t i o n t o
t h e e x i s t i n g s u r f a c e w a t e r d r a i n a g e p r o b l e m .
N O W T H E R E F O R E , i n c o n s i d e r a t i o n o f t h e m u t u a l a g r e e -
m e n t s s e t f o r t h h e r e i n b e l o w , t h e p a r t i e s h e r e t o a g r e e a s f o l l o w s :
1. GULF STREAM BATH AND TENNIS CLUB, INC. and
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CANDELARIA, INC. shall on or before December 1, 1974 enter into
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an agreement in writing with a reputable well drilling firm,
the selection of which shall be'agreeable with both parties
hereto, for the installation of a reverse o�y well drainage
system to be located on the above-described property of GULF
STREAM BATH AND TENNIS CLUB, INC.
2. GULF STREAM BATH AND TENNIS CLUB, INC. and CANDELARI.
INC. each agree to pay fifty (50%) percent of the total cost of i
said reverse oPoRtEy well drainage system, including sales taxes
and permit fees, and excluding engineering and attorneys fees
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of the parties, said total cost not to exceed Six Thousand
($6,000.) Dollars.
3. Upon execution of a purchase order with a reputable
well drilling firm, each party shall pay one-half each of all
invoices, the total sum to be borne by each part not to exceed
Three Thousand ($3,000.) Dollars; Gulf Stream Bath and Tennis
Club, Inc. will deposit its share of said cost with Robert D.
Chapin, Esq. and Candelaria, Inc. with J. Clinton Scott, Esq.,
for their said attorneys to pay invoices as received.
4. The parties acknowledge that the drainage plan
attached hereto as an exhibit which was prepared by CANDELARIA,
INC.'s engineers (O'Brien, Suiter & O'Brien) has been approved
by GULF STREA14 BATH AND TENNIS CLUB, INC.'s engineers (Russell & j
Axon) to be satisfactory, recognizing that the said premises of
the latter will be used by the former as a collecting area for
surface water. Both parties agree to be bound by the plan of
said exhibit.
5. This Agreement shall be voidable by CANDELARIA, INC.
should it fail to obtain a building permit from the Town of Gulf
Stream on or before December 1, 1974 for the construction of
four (4) dwelling units on its said premises.
6. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto, their successors
and assigns.
7. This Agreement constitutes the entire Agreement
between the parties, and this Agreement shall not be amended
except by an amendment in writing duly executed by the parties
hereto.
8. Both parties hereto agree to execute all necessary
applications to procure all necessary permits for the installa-
tion of said reverse or dry well drainage system.
GULF STREAM BATA AND TENNIS CLUB, INC.
i. ATTEST:, r• BY(YL=`,-'---�==
\o ,!' Robert A. Gardner, President
j .. '—Secretary
CANDELARIA, INC.
ATTEST: By
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Stewart B. lcvft.ehart, President
Secretary
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