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<br /> <br />City of Sunny Isles Beach <br /> <br />17070 Collins Avenue, Suite 250 <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 phone (305) 949-3113 fax <br /> <br />David Samson <br />Mayor <br /> <br />Irving Turetsky <br />Vice Mayor <br /> <br />Commissioners <br />Danny Iglesias <br />Lila Kauffman <br />Connie Morrow <br /> <br />James DiPietro <br />City Manager <br /> <br />Lynn M, Dannheisser <br />City Attorney <br /> <br />April 23, 1998 <br /> <br />Mr. M. Warshawsky <br />4044 Meridian A venue <br />Apt. 3A <br />Miami Beach, Florida 33140 <br /> <br />VIA FAX: 937-4100 <br /> <br />Dear Mr, Warshawsky: <br /> <br />This is a non-binding letter of intent that contains provisions that are being discussed <br />for a potential sale (delivery of a warranty deed) to the City of Sunny Isles Beach of <br />the fee simple portion of the property commonly known as the Princess Beach Motel <br />located at 17451 Collins Avenue, as more particularly described in Exhibit "A" <br />attached hereto, <br /> <br />This is not a legally binding contract but merely an outline of the contract terms for <br />discussion purposes only, The terms are as follows: <br /> <br />PURCHASE PRICE: <br />Leasehold property: Two million two hundred thousand ($2,200,000.) dollars as <br />to the long term lease. <br /> <br />CONTINGENCIES: <br /> <br />This price is contingent upon the following: <br /> <br />1, City Commission approval <br />2, City's receipt of two appraisals (discussed <br />below) for the property as required by Section <br />166,045, Florida Statutes as amended, to <br />substantiate the purchase price of entire <br />property (lessee's interest to be included) <br />3, Contract is executed no later than Thursday, <br />April 23, 1998 <br /> <br />CLOSING DATE: Projected closing date on or before June 4, 1998. <br />