9K-10.002. Definitions. (Transferred)

The definitions set forth in Rule 9K-9.002, F.A.C., shall apply as used in this rule chapter and are incorporated herein by reference. Additionally, the following definitions shall apply as used in this rule chapter:

(1) “Appraisal” or “Appraisal Services” means the services provided by Florida certified or licensed Appraisers pursuant to Section 475.611(1), F.S.

(2) “Appraisal Report” means the written analyses, opinions, and conclusions issued by an Approved Appraiser in connection with the Acquisition of any interest in real property under this rule chapter or Chapter 9K-9, F.A.C.

(3) “Appraiser” means any person who is certified or licensed by the State pursuant to Chapter 475, Part II, F.S., and whose certification or license is current, valid and active.

(4) “Approved Appraisal” means an Appraisal that has been reviewed and approved by the Trust for use in determining the Maximum Approved Purchase Price.

(5) “Approved Appraiser” means an Appraiser who has the necessary background, qualifications and experience to appraise the interest in real estate being acquired under this Chapter and whose name is on the current list of approved appraisers on file with the Division of State Lands, Department of Environmental Protection.

(6) “Approved Survey” means a Certified Survey that has been reviewed and approved by the Trust.

(7) “Certified Survey” means a survey that is certified, signed and sealed by a registered land surveyor authorized to practice surveying in the State pursuant to Chapter 472, F.S.

(8) “Confidential” refers to information that shall not be available for public disclosure or inspection and is exempt from the provisions of Section 119.07, F.S.

(9) “Hazardous Materials Contamination” means radon, PCBs, oil or other petroleum based products, chemicals, any noxious, hazardous, offensive, explosive or toxic substances or waste, or any hazardous materials or toxic substances as such terms are defined in the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. §9601 et seq. (CERCLA), the Hazardous Materials Transportation Act, 49 U.S.C. § 5102 et seq. (HMTA), the Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6903 et seq. (RCRA), and the regulations adopted pursuant thereto.

(10) “Market Value”, as defined in the Uniform Standards of Professional Appraisal Practice (as promulgated by the Appraisal Standards Board of The Appraisal Foundation), means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming that the price is not affected by undue stimulus.

(11) “Maximum Approved Purchase Price” means the maximum purchase price that the Trust can participate in as determined by Appraisals performed on a Project Site that have been reviewed and approved by the Trust.

(12) “Minimum Technical Standards” means the Minimum Technical Standards for Surveyors as set forth by the Florida Board of Professional Surveyors and Mappers pursuant to Chapter 472, F.S. and Chapter 61G17-6, F.A.C.

(13) “Option Agreement” or “Option Contract” means a proposed written agreement between the Recipient and the Trust to purchase all or a portion of the property lying within the Project Site, subject to the approval of the Recipient’s governing body and the Trust after appropriate notice and hearing (as may be required).

(14) “Owner(s)” or “Seller(s)” means the fee simple title owner(s) of the Project Site.

(15) “Purchase Agreement” means the various types of written contracts to purchase real property, including purchase agreements, Option Agreements, exchange agreements and other forms of such agreements, that become binding on all parties to the contract at the time the Purchase Agreement is duly executed.

(16) “Title Insurance Commitment” means a written agreement issued by a Florida licensed title insurer agreeing to issue to the Recipient, the Trust, or the Board of Trustees, individually or as co-insureds, upon the recording of the deed, an owner’s policy of title insurance in the amount of the Project Site’s purchase price insuring marketability of title to the Project Site, subject only to liens, encumbrances, exceptions or qualifications that are acceptable to the Trust and the Recipient, and those which will be discharged by the Owner(s) at closing.

(17) “Uniform Standards of Professional Appraisal Practice” means the “Uniform Title Standards” in effect as of the effective date of this rule approved and adopted by the Appraisals Standards Board of The Appraisal Foundation.

Specific Authority 380.507(11), 380.5105(2) FS. Law Implemented 259.105, 380.501-.515 FS. History–New 11-25-08.