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HomeMy Public PortalAboutMortgage and Security AgreementThis instrument prepared by: MEAD LAW & TITLE 24 Walter Martin Rd NE, Ste 201 Fort Walton Beach, FL 32548 42705DK DOCUMENTARY TAX STAMPS AND INTANGIBLE TAXES ARE EXEMPT PURSUANT TO RULE 12B-4.054(24), FLORIDA ADMINISTRATIVE CODE. MORTGAGE AND SECURITY AGREEMENT This Mortgage, made this 28th day of September, 2022 between Benjamin F. Anderson, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida ("Mortgagor"), whose address is 1250 Eglin Pkwy Suite #101, Shalimar, FL 32579, and City of Crestview, Florida, a municipal corporation ("Mortgagee"), whose address is 198 North Wilson St., Crestview, Florida 32536. Witnesseth: MORTGAGEE, is the holder of a promissory note executed by Mortgagor in the original principal sum of $275,000.00. of even date herewith, in favor of Mortgagee ("Note"); MORTGAGOR does hereby grant to Mortgagee a mortgage lien on that real property described in Exhibit "A" attached hereto and made a part hereof. NOW, THEREFORE to secure the performance by Mortgagor of all covenants and conditions of the Note, this Mortgage, and all other instruments securing the Note, and all existing or future notes, loans, guaranties, or other indebtedness owed by Mortgagor, or either or any of them, to Mortgagee, including all future advances, obligatory or otherwise, notwithstanding that such indebtedness is secured by other mortgages, and including all expenses or obligations incurred by Mortgagee pursuant to any existing or future mortgage, loan or security agreement, and in order to charge the properties, interests and rights hereinafter described with such payment and performance and for and in consideration of the sum of Ten and no/100 Dollars ($10.00), Mortgagor does hereby mortgage to Mortgagee and, where applicable, grant a security interest in the following: (A) All of the land in the State of Florida, described on Exhibit "A" attached hereto and made a part hereof, to have and to hold the same, together with each and every tenement, hereditament, easement, right, power, privilege, immunity and appurtenance thereunto belonging or in anywise appertaining and the reversion and reversions, remainder and remainders, and also the estate, right, title, interest, homestead, right of dower, separate estate, property, possession and claim whatsoever in law as well as in equity of Mortgagor of, in and to the same in every part and parcel thereof unto Mortgagee in fee simple. (B) (i) all personal property and fixtures now or hereafter affixed to or located on the property described in paragraph (A) hereof which is deemed to be fixtures and a part of the real property under applicable law; (ii) all articles of personal property and all materials delivered to the property described in paragraph (A) hereof for use in any way thereon, and owned by Mortgagor; (iii) all contract rights, general intangibles, actions and rights in action, including all rights to insurance policies and proceeds and all liquor licenses; all equipment including parts, accessories, attachments, special tools, additions and accessions thereto, and (iv) all proceeds, products, replacements, additions, substitutions, renewals and accessions of any of the foregoing items. This Mortgage is a self -operative security agreement with respect to the above described property, but Mortgagor agrees to execute and deliver on demand such other security agreements, financing statements and other instruments as Mortgagee may request in order to perfect its security interest or to impose the lien hereof more specifically upon any of such property. Mortgagee shall have all the rights and remedies in addition to those specified herein of a secured party under the Florida Uniform Commercial Code. (C) All rents, issues, profits, revenue, income, proceeds, and other benefits flowing or derived from the property described in paragraphs (A) and (B) hereof, provided however, that permission is hereby given to Mortgagor so long as no default has occurred hereunder, to collect, receive, and use such benefits from the property as they become due and payable, but not in advance thereof. Everything referred to in paragraphs (A), (B) and (C) hereof and any additional property hereafter acquired by Mortgagor and subject to the lien of this Mortgage or any part of these properties is herein referred to as the "Mortgaged Property." PROVIDED ALWAYS, that if Mortgagor shall pay to Mortgagee the Note at the times and in the manner stipulated therein, and in all other instruments securing the Note, and faithfully perform all the covenants and agreements in this Mortgage, the Loan Agreement, and all in other instruments securing the Note, to be kept performed or observed by Mortgagor, then this Mortgage shall cease and be void, but shall otherwise remain in full force and effect. Covenants of Mortgagor 1. Compliance with Note and Mortgage; Warranty of Title. Mortgagor shall comply with all provisions hereof, of the Note, the Loan Agreement (if applicable) and of every other instrument securing the Note, and will promptly pay to Mortgagee the principal with interest thereon and all other sums required to be paid by Mortgagor under the Note, the Loan Agreement, this Mortgage and all other instruments securing the Note. Mortgagor is indefeasibly seized of the Mortgaged Property in fee simple and Mortgagor has lawful authority to convey, mortgage and encumber the same as provided by this Mortgage, and does hereby so warrant. 2. Payment of Taxes and Liens. Mortgagor shall pay all taxes, assessments, liens, levies, liabilities, obligations and encumbrances of every nature and kind whether now or hereafter imposed, levied or assessed on the Mortgaged Property, this Mortgage or the indebtedness secured hereby. All such payments shall be made when due and payable before they become delinquent and before any interest attaches or any penalty is incurred. Insofar as any such lien or encumbrance is of record the same shall be promptly satisfied or released and evidence of such satisfaction or release shall be given to Mortgagee. Mortgagee may at its option require Mortgagor to deposit with Mortgagee on the first day of each month, in addition to making payments of principal and interest, until the Note is fully paid, an amount equal to one -twelfth (1/12) of the annual taxes and assessments payable with respect to the Mortgaged Property. Such deposits shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and no interest shall be payable in respect thereof. Upon demand by Mortgagee, Mortgagor shall deliver to Mortgagee such additional monies as are necessary to make up any deficiencies in the amounts necessary to enable Mortgagee to pay such taxes and assessments when due. In the event of default under any of the terms, covenants and conditions in the Note, 2 the Loan Agreement, this Mortgage or any other instrument securing the Note to be performed or observed by Mortgagor, Mortgagee may apply to the reduction of the sums secured hereby, in such manner as Mortgagee shall determine, any amount under this paragraph remaining to Mortgagor's credit. 3. Insurance. Mortgagor shall keep the improvements now existing or hereafter erected on the Mortgaged Property and all parts of the Mortgaged Property insured as may be required from time to time by Mortgagee against all perils as may be required by Mortgagee, and to pay promptly, when due, all premiums for such insurance. All such insurance shall be carried with companies approved by Mortgagee and the policy and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor and in form acceptable to Mortgagee. In event of loss, Mortgagor shall give immediate notice by mail to Mortgagee and Mortgagee may make proof of loss if not made promptly by Mortgagor, and each insurance company concerned is hereby authorized and directed to make payments for such loss directly to Mortgagee instead of to Mortgagor or to Mortgagor and Mortgagee jointly and the insurance proceeds or any part thereof may be applied by Mortgagee at its option, after deducting therefrom all its expenses including attorney's fees, either to reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. Mortgagee is hereby authorized, at its option, to settle and compromise any claims, awards, damages, rights of action and proceeds, and any other payment or relief under any insurance policy. In the event of foreclosure of this Mortgage or other transfer of title to the Mortgaged Property in extinguishment of the indebtedness secured hereby, all right, title, and interest of Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. Mortgagee may at its option require Mortgagor to deposit with Mortgagee on the first day of each month, in addition to making payments of principal and interest, until the Note is fully paid, an amount equal to one -twelfth (1/12) of the annual premiums for all insurance. Such deposits shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and no interest shall be payable in respect thereof. Upon demand by Mortgagee, Mortgagor shall deliver to Mortgagee such additional monies as are necessary to make up any deficiencies in the amounts necessary to enable Mortgagee to pay such premiums when due. In the event of default under any of the terms, covenants and conditions in the Note, the Loan Agreement, this Mortgage or any other instrument securing the Note to be kept, performed or observed by Mortgagor, Mortgagee may apply to the reduction of the sums secured hereby in such manner as Mortgagee shall determine, any amount under this paragraph remaining to Mortgagor's credit and any return premium received from cancellation of any insurance policy by Mortgagee upon foreclosure of this Mortgage. 4. Condemnation. If all of any part of the Mortgaged Property shall be damaged or taken through condemnation (which term when used herein shall include any damage or taking by any governmental authority or any other authority authorized by the Laws of the State of Florida or the United States of America to so damage or take, any transfer by private sale in lieu thereof), either temporarily or permanently, then the entire indebtedness and other sums secured hereby shall at the option of Mortgagee, become immediately due and payable. Mortgagee shall, be entitled to all compensation awards, damages, claims, rights of actions and proceeds of, or on account of any such damage or taking through condemnation and is hereby authorized, at its option, to commence, appear in and prosecute, in its own or Mortgagor's name, any action or proceeding relating to any condemnation, and to settle or compromise any claim in connection therewith. All such compensation awards, damages, claims, rights of actions and proceeds, and any other payments or relief, and the right thereto, are hereby assigned by Mortgagor to Mortgagee, who, after deducting therefrom all its expenses including attorney's fees may release any monies so received by it without affecting the lien of this Mortgage or may apply the same, in such manner as Mortgagee shall determine, to the reduction of the sums secured hereby and to 3 any prepayment charge provided in the Note, the Loan Agreement, this Mortgage or any other instruments securing the Note. Any balance of such monies then remaining shall be paid to Mortgagor. Mortgagor agrees to execute such further assignments of any compensations, awards, damages, claims, rights of action and proceeds as Mortgagee may require. 5. Care of Mortgaged Property. Mortgagor shall not remove or demolish any building or other property forming a part of the Mortgaged Property without the written consent of Mortgagee, or permit, commit, or suffer any waste, impairment or deterioration of the Mortgaged Property or any part thereof, and shall keep the same and the improvements thereon in good condition and repair. Mortgagor shall notify Mortgagee in writing within five (5) days of any injury, damage, or impairment of or occurring on the Mortgaged Property including, but not limited to, serious injury or loss by death or otherwise occurring on the Mortgaged Property. Mortgagee may, at Mortgagee's discretion, have the Mortgaged Property inspected at the time and Mortgagor shall pay all costs incurred by Mortgagee in executing such inspection. 6. Mortgagee's Right to Make Certain Payments. In the event Mortgagor fails to pay and/or discharge the taxes, assessments, liens, levies, liabilities, obligations and encumbrances, or fails to keep the Mortgaged Property insured or to deliver the policies, premiums paid, or fails to repair the Mortgaged Property as herein agreed, Mortgagee is hereby authorized at its election to pay and/or discharge the taxes, assessments, liens, levies, liabilities, obligations and encumbrances or any part thereof, to procure and pay for such insurance or to make and pay for such repairs, without any obligation on its part to determine the validity and/or necessity thereof, and without Mortgagee waiving or affecting any option, lien, equity or right under or by virtue of this Mortgage. The full amount of each and every such payment made by Mortgagee shall be immediately due and payable by Mortgagor and shall bear interest from the date thereof until paid at the Default Rate, as hereinafter defined, and together with such interest, shall be secured by the lien of this Mortgage. Nothing herein contained shall be construed as requiring Mortgagee to advance or expend monies for any of the purposes mentioned in this paragraph. 7. Payment of Expenses. Mortgagor shall pay all the costs, charges and expenses, including reasonable attorney's fees, whether incurred at the trial or appellate level, disbursements and costs of abstracts of title, incurred or paid at any time by Mortgagee because and/or in the event of the failure on the part of Mortgagor promptly and fully to perform, comply with and abide by each and every stipulation, agreement, condition and covenant of the Note, the Loan Agreement, this Mortgage and any other instrument securing the Note. Such costs, charges and expenses, shall be immediately due and payable, without notice, demand, attempt to collect or suit pending. The full amount of each and every such payment shall bear interest from the date thereof until paid at the Default Rate, as hereinafter defined. All such costs, charges and expenses so incurred or paid, together with such interest, shall be secured by the lien of this Mortgage. 8. No Transfer. It is understood and agreed by Mortgagor that as part of the inducement to Mortgagee to make the loan evidenced by the Note, Mortgagee has considered and relied on the credit worthiness and reliability of Mortgagor. Mortgagor covenant and agrees not to sell, convey, transfer, lease or further encumber any interest in or any part of the Mortgaged Property without the prior written consent of Mortgagee, and any such sale, conveyance, transfer, lease or encumbrance made without Mortgagee's prior written consent shall be void and a default herein. If any person should obtain an interest in all or any part of the Mortgaged Property pursuant to the execution or enforcement of any lien, security interest or other right, whether superior, equal or subordinate to this Mortgage or the lien hereof, such event shall be deemed to be a transfer by Mortgagor and a default hereunder. 4 9. After Acquired Property. The lien of this mortgage will automatically attach, without further act, to all after acquired property located in or on, or attached to, or used or intended to be used in connection with or with the operation of the Mortgaged Property. 10. Additional Documents. At any time and from time to time, upon Mortgagee's request, Mortgagor shall make, execute and deliver or cause to be made, executed and delivered to the Mortgagee and, where appropriate, shall cause to be recorded or filed and from time to time thereafter to be re -recorded or re -filed at such time and in such offices and places as shall be deemed desirable by Mortgagee any and all such further mortgages, instruments of further assurance, certificates and other documents as Mortgagee may consider necessary or desirable in order to effectuate, complete, enlarge or perfect, or to continue and preserve the obligations of Mortgagor under the Note and this Mortgage, and the lien of this Mortgage, as a first and prior lien upon all of the Mortgaged Property, whether now owned or hereafter acquired by Mortgagor. Upon any failure by Mortgagor to do so, Mortgagee may make, execute, record, file, re-record or refile any and all such mortgages, instruments, certificates and documents for and in the name of Mortgagor, and Mortgagor hereby irrevocably appoints Mortgagee agent and attorney -in -fact of Mortgagor to do so. II. Events of Default Any one of the following shall constitute an event of default: 11. (a) Failure by Mortgagor to pay, as and when due and payable, any installments of principal or interest due under the Note, or any deposits for taxes and assessments or insurance premiums due hereunder, or any other sums to be paid by Mortgagor hereunder, or under the Loan Agreement or any other instrument securing the Note. (b) Failure by Mortgagor to duly keep, perform and observe any covenant, condition or agreement in the Note, the Loan Agreement, this Mortgage, or any other instrument securing the Note. (c) If either Mortgagor or any guarantor or endorser of the Note: (i) files a voluntary petition in bankruptcy, or (ii) is adjudicated as a bankrupt or insolvent, or (iii) files any petition or answer seeking or acquiescing in any reorganization, management, composition, readjustment, liquidation, dissolution or similar relief for itself under any law relating to bankruptcy, insolvency or other relief for debtors, or (iv) seeks, consents to or acquiesces in the appointment of any trustee, receiver, master or liquidator of itself or of all or any part of the Mortgaged Property, or (v) makes any general assignment for the benefit of creditors, or (vi) makes any admissions in writing of its inability to pay its debts generally as they become due; or (vii) a court of competent jurisdiction enters an order, judgment or decree approving a petition filed against it seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state, or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, which order, judgment or decree remains unvacated and unstayed for an aggregate of sixty (60) days whether or not consecutive from the date of entry thereof; or (viii) any trustee, receiver or liquidator of it or of any part of the Mortgaged Property is appointed without the prior written consent of Mortgagee, which appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days whether or not consecutive. (d) Any breach of warranty or material untruth of any representation of Mortgagor contained in the Note, the Loan Agreement, this Mortgage or any other instrument securing the Note. (e) An event of default under any existing or future notes, loans, advances, guaranties, or other indebtedness owed to the Mortgagee by the Mortgagor, or any or either of them, or under any instrument securing such indebtedness. 5 III. Remedies of Mortgagee 12. Acceleration. If an event of default shall have occurred, Mortgagee may declare the outstanding principal amount of the Note and the interest accrued thereon, and all other sums secured hereby, to be due and payable immediately, and upon such declaration such principal and interest and other sums shall immediately become due and payable without demand, notice or presentment for payment, unless otherwise provided in the Loan Agreement. 13. Other Remedies. If an event of default shall have occurred, Mortgagee may proceed by suit or suits at law or in equity or by any other appropriate proceeding or remedy: (a) to enforce payment of the Note or the performance of any term hereof or any other right; (b) to foreclose this Mortgage and to sell, as an entirety or in separate lots or parcels, the Mortgaged Property under the judgment or decree of a court or courts of competent jurisdiction; (c) to collect all rents, issues, profits, revenues, income, proceeds or other benefits from the Mortgaged Property; (d) to seek appointment of a receiver to enter upon and take possession of the Mortgaged Property and to collect all rents, issues, profits, revenues, income or other benefits thereof and apply the same as the Court may direct and such receiver shall have all rights and powers permitted under law; and (e) to pursue any other remedy available to it, including, but not limited to taking possession of the Mortgaged Property without notice or hearing to Mortgagor. Mortgagee shall take action either by such proceedings or by the exercise of its power with respect to entry or taking possession, or both as Mortgagee may determine. 14. No Waiver. No delay or omission of Mortgagee or of any holder of the Note and Mortgage to exercise any right, power or remedy accruing upon any event of default shall exhaust or impair any such right, power or remedy or be construed as a waiver of any such event of default or constitute acquiescence therein. 15. Non -Exclusive Remedies. No right, power or remedy conferred upon or reserved to Mortgagee by the Note, the Loan Agreement, this Mortgage or any other instrument securing the Note is exclusive of any other right, power or remedy, but each and every such right, power and remedy shall be cumulative and concurrent and shall be in addition to any other right, power or remedy given hereunder or under the Note, the Loan Agreement, or any other instrument securing the Note, or now or hereafter existing at law, in equity or by statute. IV. Miscellaneous 16. Successors and Assigns Bound. Whenever one of the parties hereto is named or referred to herein, the heirs, personal representatives, successors and assigns of such party shall be included and all covenants and agreements contained in this Mortgage, by or on behalf of Mortgagor or Mortgagee, shall bind and inure to the benefit of their respective heirs, personal representatives, successors and assigns. 17. Invalid or Unenforceable. In the event that any of the covenants, agreements, terms or provisions contained in the Note, this Mortgage or any other instrument securing the Note shall be invalid, illegal or unenforceable in any respect, the validity of the remaining covenants, agreement, terms or provisions contained herein and in the Note and any other instrument securing the Note shall be in no way affected, prejudiced or disturbed thereby. 6 18. Future Advances. This Mortgage is given to secure not only existing indebtedness, but also such future advances, whether such advances are obligatory or are to be made at the option of Mortgagee, or otherwise, as are made within twenty years from the date hereof, to the same extent as if such future advances are made on the date of the execution of this Mortgage. The total amount of indebtedness that may be so secured may decrease or increase from time to time, but the total unpaid balance so secured at one time shall not exceed four times the face amount of the Note plus interest thereon, and any disbursements made for the payment of taxes, levies or insurance on the Mortgaged Property, with interest on such disbursements at the Default Rate as hereinafter defined. 19. Obligation of Mortgagor. Mortgagor shall pay the cost of releasing or satisfying this Mortgage of record. 20. Default Rate. The Default Rate shall be interest at the maximum rate permitted by applicable law, whether now or hereafter in effect. IN WITNESS WHEREOF, the undersigned has executed this instrument the day and year above first written. Signed�sepled and delivered in the prestrice of: Wita TAMRA L. COKONOUGHER Print -Mtn+ s Name John S. Mead Print Witness Name STATE OF FLORIDA COUNTY OF OKALOOSA 3k' tn ' yky\ '.USar\ Benjarin F. Anderson, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida The foregoing instrument was acknowledged before me this c'$ day of September, 2022 by means of physical presence by Benjamin F. Ander n, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida, who is personally known to me OR ( ) produced as identification. w�. Notary Pubilc Stata of Florida ����' My Commissfond HH 159767 Exp.10/20/2025 7 EXHIBIT "A" (Legal Description) A PARCEL OF LAND SITUATED IN SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; BEING A PORTION OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTHWEST CORNER OF SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°05'55"E ALONG THE NORTH LINE OF SAID SECTION 4, FOR A DISTANCE OF 1150.46 FEET; THENCE DEPARTING SAID NORTH LINE PROCEED S01°54'05"W, FOR A DISTANCE OF 1102.22 FEET TO A 5/8 INCH IRON ROD (LB# 5024) MARKING THE NORTHWEST CORNER OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°03'29"E (REFERENCE BEARING) ALONG THE NORTH LINE OF SAID PARCEL, FOR A DISTANCE OF 30.00 FEET TO A 1/2 .INCH IRON ROD (LB# 7191) BEING THE POINT OF BEGINNING; THENCE CONTINUE S88°03'29"E ALONG SAID NORTH LINE, FOR A DISTANCE OF 426.97 FEET TO A 1/2 INCH IRON ROD (LB# 7191); THENCE DEPARTING SAID NORTH LINE PROCEED S01 °56'31 "W, FOR A DISTANCE OF 236.58 FEET TO A POINT ON A CURVE MARKED BY A 1/2 INCH IRON ROD (LB# 7191) AND LYING ON THE NORTH LINE OF A PROPOSED 60.00 FOOT INGRESS, EGRESS, AND UTILITY EASEMENT, SAID CURVE BEING CONCAVE TO THE SOUTHEAST AND HAVING A RADIUS OF 300.00 FEET; THENCE PROCEED ALONG SAID PROPOSED NORTH EASEMENT LINE AND CURVE THROUGH A CENTRAL ANGLE OF 04°35'04" FOR A DISTANCE OF 24.00 FEET (CHORD BEARING = S73°45'57"W, CHORD = 24.00 FEET) TO THE POINT OF REVERSE CURVATURE OF A CURVE BEING CONCAVE TO THE NORTHWEST AND HAVING A RADIUS OF 250.00 FEET BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE CONTINUE ALONG SAID PROPOSED NORTH EASEMENT LINE THROUGH A CENTRAL ANGLE OF 20°27'23" FOR A DISTANCE OF 89.26 FEET (CHORD BEARING = S81°42'07"W, CHORD = 88.78 FEET) TO A 1/2 INCH IRON ROD (LB# 7191); THENCE CONTINUE N88°04'12"W ALONG SAID PROPOSED NORTH EASEMENT LINE, FOR A DISTANCE OF 316.74 FEET TO THE INTERSECTION OF SAID PROPOSED NORTH EASEMENT LINE AND THE EAST LINE OF AN APPARENT 60.00 FOOT RIGHT OF WAY BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE DEPARTING SAID PROPOSED NORTH EASEMENT LINE, PROCEED N01°55'48"E ALONG SAID APPARENT EAST RIGHT OF WAY LINE, FOR A DISTANCE OF 259.91 FEET TO THE POINT OF BEGINNING. THE ABOVE DESCRIBED PARCEL OF LAND CONTAINS 2.53 ACRES (110,046 SQUARE FEET), MORE OR LESS. 8 STATEMENT Benjamin F. Anderson, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida (hereinafter referred to as "Tax Collector") agrees to provide the City of Crestview, Florida, a municipal corporation (hereinafter referred to as "City") an opportunity/option to occupy a floor or vacant area of the building to be constructed on the subject property. Such an option shall be at fair market value, and may be available to rent or to purchase from the Tax Collector. This shall be for the purpose of a municipal office space (subject to the approval of the holder and owner of the reverter provision on the Subject Property). This shall be available only if additional space is constructed and is deemed to be surplus by the Tax Collector. Neither the Tax Collector nor the City is obligated to lease, sell, purchase, or build additional space for either party, Dated September 28, 2022. -tc� P-0.- t f .... .�,.i.e 1''J L A • Benjamin I� Anderson, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida City of Crestview, Florida, a municipal corporation Tim Bolduc As City Manager DoclkSign Envelope ID: DB9B5E5E-976E-40F3-B29D-E06CE2C53DDO This REVERSIONARY INTEREST STATEMENT is executed this 28th day of September, 2022, by Gwendolyn C. Giesen and George B. Giesen, individually, as successor -in -interest to Andrew F. Giesen, Jr., and as Successor Trustees of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003, whose collective address is 981 Elkin Lane, Keller, TX 76262, and J. LaDon Dewrell, individually and as successor -in -interest to Charles W. Clary, whose address is P.O. Box 1510, Fort Walton Beach, FL 32549 (hereinafter referred to as "Owners of Reversionary Interest"). WHEREAS, Owners of Reversionary Interest conveyed certain real property to the City of Crestview, Florida (hereinafter referred to as "City"), by Corrective Warranty Deed dated September 7, 2000, and recorded in Official Records Book 2264, at Pages 37 through 43, of the Public Records of Okaloosa County, Florida; and WHEREAS, the deed referred to above contained a provision that if any of Parcel 1, as described in the deed, was ever used for any purpose other than city administrative offices, city library, community center, or other governmental administrative offices, that title to the land would revert to grantors, who are Owners of Reversionary Interest; and WHEREAS, Benjamin F. Anderson as Tax Collector, Okaloosa County, Florida (hereinafter referred to as "Tax Collector") wishes to purchase a portion of Parcel 1, as described in the above - referenced deed, and construct a Tax Collector's office building upon it; and NOW, THEREFORE, in consideration of One Dollar and other consideration and the agreements herein contained, the undersigned Owners of Reversionary Interest hereby acknowledge as follows: The use of the real property described on the attached Exhibit "A" for an Okaloosa County Tax Collector's office and/or for the use as an Okaloosa County Property Appraiser's office is permitted and does not violate the reverter clause as described above. This Agreement applies only to the two and one half (2.5) acres described on the Exhibit "A" and does not apply to the remaining parcels. "-629EA CFCF29IFF.. Gwendolyn C. Giesen, individually, as successor -in -interest to Andrew F. Giesen, Jr., and as Successor Trustee of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003 J. LaDon Dewrell, individually and as successor - in -interest to Charles W. Clary George B. Giesen, individually, as successor - in -interest to Andrew F. Giesen, Jr., and as Successor Trustee of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003 ACKNOWLEDGED BY: nr,/Savti Benjamii . Anderson, as Tax Collector for Okaloosa ounty, a Political Subdivision of the State of Florida DocuSign Envelope ID: DB9B5E5E-976E-40F3-B29D-E06CE2C53DD0 EXHIBIT "A" (Legal Description) SUBJECT PARCEL (AS SURVEYED) A PARCEL OF LAND SITUATED IN SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; BEING A PORTION OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTHWEST CORNER OF SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°05'55"E ALONG THE NORTH LINE OF SAID SECTION 4, FOR A DISTANCE OF 1150.46 FEET; THENCE DEPARTING SAID NORTH LINE PROCEED S01°54'05"W, FOR A DISTANCE OF 1102.22 FEET TO A 5/8 INCH IRON ROD (LB# 5024) MARKING THE NORTHWEST CORNER OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°03'29"E (REFERENCE BEARING) ALONG THE NORTH LINE OF SAID PARCEL, FOR A DISTANCE OF 30.00 FEET TO A 1/2 INCH IRON ROD (LB# 7191) BEING THE POINT OF BEGINNING; THENCE CONTINUE S88°03'29"E ALONG SAID NORTH LINE, FOR A DISTANCE OF 426.97 FEET TO A 1/2 INCH IRON ROD (LB# 7191); THENCE DEPARTING SAID NORTH LINE PROCEED S01 °56'31 "W, FOR A DISTANCE OF 236.58 FEET TO A POINT ON A CURVE MARKED BY A 1/2 INCH IRON ROD (LB# 7191) AND LYING ON THE NORTH LINE OF A PROPOSED 60.00 FOOT INGRESS, EGRESS, AND UTILITY EASEMENT, SAID CURVE BEING CONCAVE TO THE SOUTHEAST AND HAVING A RADIUS OF 300.00 FEET; THENCE PROCEED ALONG SAID PROPOSED NORTH EASEMENT LINE AND CURVE THROUGH A CENTRAL ANGLE OF 04°35'04" FOR A DISTANCE OF 24.00 FEET (CHORD BEARING = S73°45'57"W, CHORD = 24.00 FEET) TO THE POINT OF REVERSE CURVATURE OF A CURVE BEING CONCAVE TO THE NORTHWEST AND HAVING A RADIUS OF 250.00 FEET BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE CONTINUE ALONG SAID PROPOSED NORTH EASEMENT LINE THROUGH A CENTRAL ANGLE OF 20°27'23" FOR A DISTANCE OF 89.26 FEET (CHORD BEARING = S81°42'07"W, CHORD = 88.78 FEET) TO A 1/2 INCH IRON ROD (LB# 7191); THENCE CONTINUE N88°04' 12"W ALONG SAID PROPOSED NORTH EASEMENT LINE, FOR A DISTANCE OF 316.74 FEET TO THE INTERSECTION OF SAID PROPOSED NORTH EASEMENT LINE AND THE EAST LINE OF AN APPARENT 60.00 FOOT RIGHT OF WAY BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE DEPARTING SAID PROPOSED NORTH EASEMENT LINE, PROCEED N01 °55'48"E ALONG SAID APPARENT EAST RIGHT OF WAY LINE, FOR A DISTANCE OF 259.91 FEET TO THE POINT OF BEGINNING. THE ABOVE DESCRIBED PARCEL OF LAND CONTAINS 2.53 ACRES (110,046 SQUARE FEET), MORE OR LESS. This REVERSIONARY INTEREST STATEMENT is executed this 28th day of September, 2022, by Gwendolyn C. Giesen and George B. Giesen, individually, as successor -in -interest to Andrew F. Giesen, Jr., and as Successor Trustees of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003, whose collective address is 981 Elkin Lane, Keller, TX 76262, and J. LaDon Dewrell, individually and as successor -in -interest to Charles W. Clary, whose address is P.O. Box 1510, Fort Walton Beach, FL 32549 (hereinafter referred to as "Owners of Reversionary Interest"). WHEREAS, Owners of Reversionary Interest conveyed certain real property to the City of Crestview, Florida (hereinafter referred to as "City"), by Corrective Warranty Deed dated September 7, 2000, and recorded in Official Records Book 2264, at Pages 37 through 43, of the Public Records of Okaloosa County, Florida; and WHEREAS, the deed referred to above contained a provision that if any of Parcel 1, as described in the deed, was ever used for any purpose other than city administrative offices, city library, community center, or other governmental administrative offices, that title to the land would revert to grantors, who are Owners of Reversionary Interest; and WHEREAS, Benjamin F. Anderson as Tax Collector, Okaloosa County, Florida (hereinafter referred to as "Tax Collector") wishes to purchase a portion of Parcel 1, as described in the above - referenced deed, and construct a Tax Collector's office building upon it; and NOW, THEREFORE, in consideration of One Dollar and other consideration and the agreements herein contained, the undersigned Owners of Reversionary Interest hereby acknowledge as follows: The use of the real property described on the attached Exhibit "A" for an Okaloosa County Tax Collector's office and/or for the use as an Okaloosa County Property Appraiser's office is permitted and does not violate the reverter clause as described above. This Agreement applies only to the two and one half (2.5) acres described on the Exhibit "A" and does not apply to the remaining parcels. Gwendolyn C. Giesen, individually, as successor -in -interest to Andrew F. Giesen, Jr., and as Successor Trustee of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003 J. LaDon Dewrell, individually and as successor - in -interest to Charles W. Clary George B. Giesen, individually, as successor - in -interest to Andrew F. Giesen, Jr., and as Successor Trustee of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003 ACKNOWLEDGED BY: Benjamin F. Anderson, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida EXHIBIT "A" (Legal Description) SUBJECT PARCEL (AS SURVEYED) A PARCEL OF LAND SITUATED IN SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; BEING A PORTION OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTHWEST CORNER OF SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°05'55"E ALONG THE NORTH LINE OF SAID SECTION 4, FOR A DISTANCE OF 1150.46 FEET; THENCE DEPARTING SAID NORTH LINE PROCEED S01°54'05"W, FOR A DISTANCE OF 1102.22 FEET TO A 5/8 INCH IRON ROD (LB# 5024) MARKING THE NORTHWEST CORNER OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°03'29"E (REFERENCE BEARING) ALONG THE NORTH LINE OF SAID PARCEL, FOR A DISTANCE OF 30.00 FEET TO A 1/2 INCH IRON ROD (LB# 7191) BEING THE POINT OF BEGINNING; THENCE CONTINUE S88°03'29"E ALONG SAID NORTH LINE, FOR A DISTANCE OF 426.97 FEET TO A 1/2 INCH IRON ROD (LB# 7191); THENCE DEPARTING SAID NORTH LINE PROCEED SO1 °56'31 "W, FOR A DISTANCE OF 236.58 FEET TO A POINT ON A CURVE MARKED BY A 1/2 INCH IRON ROD (LB# 7191) AND LYING ON THE NORTH LINE OF A PROPOSED 60.00 FOOT INGRESS, EGRESS, AND UTILITY EASEMENT, SAID CURVE BEING CONCAVE TO THE SOUTHEAST AND HAVING A RADIUS OF 300.00 FEET; THENCE PROCEED ALONG SAID PROPOSED NORTH EASEMENT LINE AND CURVE THROUGH A CENTRAL ANGLE OF 04°35'04" FOR A DISTANCE OF 24.00 FEET (CHORD BEARING = S73°45'57"W, CHORD = 24.00 FEET) TO THE POINT OF REVERSE CURVATURE OF A CURVE BEING CONCAVE TO THE NORTHWEST AND HAVING A RADIUS OF 250.00 FEET BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE CONTINUE ALONG SAID PROPOSED NORTH EASEMENT LINE THROUGH A CENTRAL ANGLE OF 20°27'23" FOR A DISTANCE OF 89.26 FEET (CHORD BEARING = S81°42'07"W, CHORD = 88.78 FEET) TO A 1/2 INCH IRON ROD (LB# 7191); THENCE CONTINUE N88°04'12"W ALONG SAID PROPOSED NORTH EASEMENT LINE, FOR A DISTANCE OF 316.74 FEET TO THE INTERSECTION OF SAID PROPOSED NORTH EASEMENT LINE AND THE EAST LINE OF AN APPARENT 60.00 FOOT RIGHT OF WAY BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE DEPARTING SAID PROPOSED NORTH EASEMENT LINE, PROCEED N01 °55'48"E ALONG SAID APPARENT EAST RIGHT OF WAY LINE, FOR A DISTANCE OF 259.91 FEET TO THE POINT OF BEGINNING. THE ABOVE DESCRIBED PARCEL OF LAND CONTAINS 2.53 ACRES (110,046 SQUARE FEET), MORE OR LESS. DacuSign Envelope ID: 9895783E-1420-4AE0-8B7A-DD2F503A519E This REVERSIONARY INTEREST STATEMENT is executed this 28th day of September, 2022, by Gwendolyn C. Giesen and George B. Giesen, individually, as successor -in -interest to Andrew F. Giesen, Jr., and as Successor Trustees of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003, whose collective address is 981 Elkin Lane, Keller, TX 76262, and J. LaDon Dewrell, individually and as successor -in -interest to Charles W. Clary, whose address is P.O. Box 1510, Fort Walton Beach, FL 32549 (hereinafter referred to as "Owners of Reversionary Interest"). WHEREAS, Owners of Reversionary Interest conveyed certain real property to the City of Crestview, Florida (hereinafter referred to as "City"), by Corrective Warranty Deed dated September 7, 2000, and recorded in Official Records Book 2264, at Pages 37 through 43, of the Public Records of Okaloosa County, Florida; and WHEREAS, the deed referred to above contained a provision that if any of Parcel 1, as described in the deed, was ever used for any purpose other than city administrative offices, city library, community center, or other governmental administrative offices, that title to the land would revert to grantors, who are Owners of Reversionary Interest; and WHEREAS, Benjamin F. Anderson as Tax Collector, Okaloosa County, Florida (hereinafter referred to as "Tax Collector") wishes to purchase a portion of Parcel 1, as described in the above - referenced deed, and construct a Tax Collector's office building upon it; and NOW, THEREFORE, in consideration of One Dollar and other consideration and the agreements herein contained, the undersigned Owners of Reversionary Interest hereby acknowledge as follows: The use of the real property described on the attached Exhibit "A" for an Okaloosa County Tax Collector's office and/or for the use as an Okaloosa County Property Appraiser's office is permitted and does not violate the reverter clause as described above. This Agreement applies only to the two and one half (2.5) acres described on the Exhibit "A" and does not apply to the remaining parcels. Gwendolyn C. Giesen, individually, as successor -in -interest to Andrew F. Giesen, Jr., and as Successor Trustee of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003 r—DocuSigned by: J taVbin. Viwr LL C988193473EE40C_. J. LaDon Dewrell, individually and as successor - in -interest to Charles W. Clary George B. Giesen, individually, as successor - in -interest to Andrew F. Giesen, Jr., and as Successor Trustee of the Revocable Trust Agreement of Andrew F. Giesen, Jr., dated November 25, 2003 ACKNOWLEDGED BY: Benjamin F. Anderson, as Tax Collector for Okaloosa County, a Political Subdivision of the State of Florida DocuSign Envelope ID: 9895783E-142D-4AE0-8B7A-DD2F503A519E EXHIBIT "A" (Legal Description) SUBJECT PARCEL (AS SURVEYED) A PARCEL OF LAND SITUATED IN SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; BEING A PORTION OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTHWEST CORNER OF SECTION 4, TOWNSHIP 3 NORTH, RANGE 23 WEST, OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°05'55"E ALONG THE NORTH LINE OF SAID SECTION 4, FOR A DISTANCE OF 1150.46 FEET; THENCE DEPARTING SAID NORTH LINE PROCEED SO1°54'05"W, FOR A DISTANCE OF 1102.22 FEET TO A 5/8 INCH IRON ROD (LB# 5024) MARKING THE NORTHWEST CORNER OF THE PROPERTY DESCRIBED IN OFFICIAL RECORDS BOOK 3283, PAGE 2957 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; THENCE PROCEED S88°03'29"E (REFERENCE BEARING) ALONG THE NORTH LINE OF SAID PARCEL, FOR A DISTANCE OF 30.00 FEET TO A 1/2 INCH IRON ROD (LB# 7191) BEING THE POINT OF BEGINNING; THENCE CONTINUE S88°03'29"E ALONG SAID NORTH LINE, FOR A DISTANCE OF 426.97 FEET TO A 1/2 INCH IRON ROD (LB# 7191); THENCE DEPARTING SAID NORTH LINE PROCEED S01 °56'31 "W, FOR A DISTANCE OF 236.58 FEET TO A POINT ON A CURVE MARKED BY A 1/2 INCH IRON ROD (LB# 7191) AND LYING ON THE NORTH LINE OF A PROPOSED 60.00 FOOT INGRESS, EGRESS, AND UTILITY EASEMENT, SAID CURVE BEING CONCAVE TO THE SOUTHEAST AND HAVING A RADIUS OF 300.00 FEET; THENCE PROCEED ALONG SAID PROPOSED NORTH EASEMENT LINE AND CURVE THROUGH A CENTRAL ANGLE OF 04°35'04" FOR A DISTANCE OF 24.00 FEET (CHORD BEARING = S73°45'57"W, CHORD = 24.00 FEET) TO THE POINT OF REVERSE CURVATURE OF A CURVE BEING CONCAVE TO THE NORTHWEST AND HAVING A RADIUS OF 250.00 FEET BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE CONTINUE ALONG SAID PROPOSED NORTH EASEMENT LINE THROUGH A CENTRAL ANGLE OF 20°27'23" FOR A DISTANCE OF 89.26 FEET (CHORD BEARING = S81 °42'07"W, CHORD = 88.78 FEET) TO A 1/2 INCH IRON ROD (LB# 7191); THENCE CONTINUE N88°04'12"W ALONG SAID PROPOSED NORTH EASEMENT LINE, FOR A DISTANCE OF 316.74 FEET TO THE INTERSECTION OF SAID PROPOSED NORTH EASEMENT LINE AND THE EAST LINE OF AN APPARENT 60.00 FOOT RIGHT OF WAY BEING MARKED BY A 1/2" IRON ROD LB. #7191; THENCE DEPARTING SAID PROPOSED NORTH EASEMENT LINE, PROCEED NO 1 °55'48"E ALONG SAID APPARENT EAST RIGHT OF WAY LINE, FORA DISTANCE OF 259.91 FEET TO THE POINT OF BEGINNING. THE ABOVE DESCRIBED PARCEL OF LAND CONTAINS 2.53 ACRES (110,046 SQUARE FEET), MORE OR LESS.