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(0" <br />AGREEMENT OF PURCHASE AND SALE <br />THIS AGREEMENT OF PURCHASE AND SALE ( "Agreement ") is made and <br />entered into this day of 2014 by and between THE CITY OF SUNNY <br />ISLES BEACH. FLORIDA ( "Seller ") a body corporate and politic organized under the laws of <br />the State of Florida and CHABAD LUBAVITCH RUSSIAN CENTER OF SOUTH FLORIDA <br />( "Purchaser "). <br />WITNESSETH: <br />WHEREAS, Seller is the fee simple owner of the Realty (hereinafter defined): and <br />WHEREAS, the Purchaser has the desire to construct a mixed use development project <br />consistent of a Synagogue, Community Center. and Condominium ( "Project "): and <br />WHEREAS, Seller desires to sell the Property (hereinafter defined) to Purchaser. and <br />Purchaser desires to purchase the Property from Seller. in accordance with and subject to the <br />terms and conditions hereinafter set forth. <br />NOW, THEREFORE; in consideration of the foregoing. the mutual covenants <br />contained herein, and the sum of TEN AND NO /100 DOLLARS (S16.00), and other good and <br />valuable consideration, the receipt and sufficiency of which is hereby acknowledged; the parties, <br />intending to be legally bound, do hereby agree as follows: <br />1. Purchase and Sale: Realm. Seller agrees to sell to Purchaser. and Purchaser <br />agrees to purchase from Seller, all that certain parcel of real property consisting of approximately <br />.858 acres. more or less. situate, lying and being in the Countv of Miami -Dade ( "County "), State <br />of Florida, and of which the legal description is set forth in Exhibit "A" attached hereto and made <br />a part hereof ( "Realty ") in fee simple, together with the following property and rights (the Realty <br />and such property and rights are referred to herein collectively as the ( "Property "): <br />(a) All surveys, plans, plats, soil tests, engineering studies. environmental <br />studies and all other documents. studies; title policies; licenses, permits. authorizations. <br />approvals. soil and ground water reports and asbestos material surveys. and any other intangible <br />rights pertaining to the ownership and/or operation of the Realty, if any (collectively, the <br />"Documents "),. <br />(b) All strips and gores of land Ivine adjacent to the Realty, together with all <br />easements; privileges, entitlements. riparian and other water rights, lands underlying any <br />adjacent streets or roads, improvements located on the Realty and appurtenances pertaining to or <br />accruing to the benefit of the Realty: and <br />Exhibit "A" <br />SIB <br />