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 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.

Rulemaking Authority 380.507(11) FS. Law Implemented 259.101, 375.045, 380.501-.515 FS. History–New 7-7-94, Amended 9-7-00, Formerly 9K-6.014.