Reso 2015-2405 - Laserfiche WebLink

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4. Pedestrian Bridge Easement. 4.1 Easement Agreement. The Seller or an affiliated corporation represents that it is the owner and operator of the Trump International Hotel located at 18001 Collins Avenue, Sunny Isles Beach. Seller or the affiliated corporation agrees to enter into an easement agreement to facilitate the construction and maintenance of the east tower of the pedestrian bridge to be located on the south side of the Trump International Hotel. The precise location of the Easement parcel requires agreement by both parties. Subject to the approval of the City Commission, the easement agreement shall be executed prior to Closing. The requirement discussed herein to enter into an easement agreement for a pedestrian bridge shall not be construed as approval by the Buyer or City Commission to construct or approve a pedestrian bridge. The construction of the pedestrian bridge is a matter within the discretion of the City Commission. This provision shall survive Closing. 4.2 Trump International Hotel Signage. In the event that the east tower of the pedestrian bridge obstructs the south visibility of the existing monument sign located at the Trump International Hotel, City agrees to use its best efforts to install appropriate directional signs on the tower to identify the location of the hotel. This provision shall survive Closing. 4.3 Naming Rights. Subject to the approval of Florida Department of Transportation ("FDOT") and the City Commission of the City of Sunny Isles Beach, the City agrees to consider a request to name (that includes signage) the pedestrian bridge with a family name submitted by the Seller or Michael or Gil Dezer prior to the construction of the Pedestrian Bridge. It is understood by the parties that approval by FDOT is required before the City Commission considers the request discussed herein. This provision shall survive closing. 5. Transfer of Development Rights. Prior to Closing and upon approval of the City Commission which shall be given upon the acceptance and approval of this Agreement for Purchase and Sale,the City agrees to donate to the Seller, without charge, 53,750 square feet of unrestricted Transfer of Development Rights ("TDRs") and 25 dwelling units inclusive of the west side only TDRs of 33,750 which were previously donated to the Seller. The donation of the TDRs is subject to revocation by the City if the Closing does not occur. This provision shall survive Closing. 3 of 14 112371632.2 SIB