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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 5, 1996
MAJOR REALTY CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-1748 590898509
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(Commission File Number) (IRS Employer Identification No.)
5728 Major Boulevard, Suite 306, Orlando, Florida 32819
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (407) 351-1111
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ITEM 5. OTHER EVENTS.
The Company signed two contracts for the sale of multi-family land in
the southwestern sector of Orlando. One contract is for approximately 55 acres
gross (17 acres net) in the amount of $1,800,000. The other contract is for
approximately 43 acres gross (15 acres net) in the amount of $1,350,000. The
Buyer has a 60 day inspection period during which it may cancel one or both of
the contracts. The sales are contingent on the Buyer obtaining the necessary
permits and approvals from the City of Orlando. If the Buyer proceeds with the
contracts, the closings would be anticipated in May of 1997.
The Company also announced that it has signed a $1,050,000 contract for
the sale of 2.5 acres of commercial land located at the southwest intersection
of Major Boulevard and Orlando-Vineland Road in Orlando. The Buyer has a 90
day free look period, and the contract is contingent on the purchaser obtaining
approvals from the City of Orlando. If the Buyer proceeds with the contract,
the closing would be anticipated in May of 1997.
In addition, the Company announced it has sold 2.34 acres of
commercial land located at the northwest intersection of Conroy Road and
Vineland Road in Orlando to Central Storage of Orlando, Inc. for $410,914.
The sales price was paid in cash at closing. Approximately $240,000 of the
net proceeds was used to repay company debt and the remainder will be used
for company operations.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Major Realty Corporation has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MAJOR REALTY CORPORATION
By: /s/ David L. Treadwell
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David L. Treadwell
Chairman and CEO
September 23, 1996
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Date
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