Reso 2014-2274 - Laserfiche WebLink

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Exhibit "A" SETTLEMENT AGREEMENT AND RELEASE THIS SETTLEMENT AGREEMENT ( "Agreement "), is made this !2�day of July, 2014, by and between Temple B'Nai Zion, Inc. (the "Temple "), a Florida not - for - profit corporation, and the City of Sunny Isles Beach, Florida, a Florida municipal corporation (the "City"). RECITALS A. The Temple and the City are parties to that lawsuit styled Temple B'Nai Zion, Inc. v. City of Sunny Isles Beach, Florida, et al., Case No. 10- 24549- CIV -KMW, pending in the United States District Court for the Southern District of Florida (the "Lawsuit "). B. The Temple and the City desire to amicably resolve the disputes between them, including, but not limited to, the subject matter of the Lawsuit, with each party to bear their own attorneys' fees and costs. AGREEMENT NOW, THEREFORE, for and in consideration of the following covenants, representations, agreements, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows: 1. Recitals. The foregoing recitals are true and correct and incorporated herein by reference as if set forth at length. 2. No Admission of Liabilitv or Wrongdoing. It is expressly understood and agreed that this Agreement is in settlement of disputed claims in the Lawsuit, and that no party hereto admits or concedes liability, damages, or any wrongdoing whatsoever. 3. Monetary Consideration and Development Rights: The Temple and the City agree that in full satisfaction of all the claims, allegations, causes of action, or defenses that were made or that could have been made by each of them against the other in the Lawsuit, from the beginning of time to the date hereof: a. The City shall (i) pay the total sum of One Hundred Seventy -Five Thousand and 00/100 Dollars ($175,000.00) to the Temple, payable to the trust account of the Temple's counsel of record, Keith D. Silverstein, P.A., within thirty (30) days of execution of this Agreement and (ii) deposit Transfer of Development Rights ( "TDRs ") in the amount of Fifteen Thousand (15,000) square feet of floor area and Five (5) dwelling units (hereinafter referred to as "Settlement TDRs ") in a TDR sub -bank account specifically designated for the Temple no later than July 31, 2014. The Settlement TDRs shall be unrestricted and can be transferred to sites that are designated as receiving sites under the City's zoning code. The potential receiving sites include, but are not limited to, the beachfront properties located east of Collins Avenue in the City. In the event that the Temple requests that the City sell the Settlement TDRs on its behalf, and if the Settlement TDRs are sold by the City for more than One Hundred ($100.00) Dollars a square foot, the Temple t�