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sFP.OM : Panasonic FAX SYSTEM PHONE NO. : 203 3630535 Jun. 23 1990 10:59PM P' <br />FRu^' kEYEE 1 NRP1AN GECRf;E I <br />PHONE 1�10. : <br />run• 24 1998 29:59PM P2 <br />City Of Sunny Isles Beach <br />17Q70 Cnliins Avrnt+e, Suite 250 <br />Sunny isles Beach, lf'lcrida 3316r) <br />!305) 047-0606 phone (305) W-2113 fax <br />?4&YW Tune 24, 1998 <br />Irvift Tar wky <br />VOt Mayor <br />cowmiwowm <br />,Danny 1glev" <br />Lila Kawrmn Mr. George Newrran <br />Coanie Morrow Assistant Sales Manager <br />Ames Dipietro One S.E. Third Avenue <br />City Mansser Miami, EL 33131-1704 <br />Lynn X Dannhgll wr <br />City Aaadmy Dear Mr. Ne <br />A#A, <br />- <br />This is aInding letteialbil?tsky, <br />tent that contains provisions that are being disaureed for <br />a potential sale to thef. Sunny Isles Beach of 2.84 acres of vacant land owned <br />by ISMAT Corp.; and located at North Bay Road and 178 h Drive, Sunny <br />Isles Beach, in accordance with the survey provided by you and attached hereto as <br />Exhibit "A." <br />This is not a legally bird ng contract but merely an outline of the contract terms for <br />discussion purposes only, The terms as as follows: <br />PURCHASE PRICE: ONE MILLION FOUR 14UTI DRED AND THIRTY <br />FIVE THOUSAND' ($1,435,000.00) DOLLARS. <br />(The budgeted price was S 1,100,00 but has been <br />raised based on the enclosed appraisal.) <br />CONTINGENCIES: This price is contingent upon the following. <br />1. City Commission approv*A of a binding contract. <br />4, <br />die pmeh- <br />3. Contract is executed no later than July 30, 1998, <br />4. This letter of intent it, subject to a formal Cotttract 46 <br />prepared by Buycr and RMOVed by Seller's artorney, <br />5. Deposit: Upon execution and delivery of th terse <br />agreement, Buyer wo doposit S50,000 ith agr --U**" <br />updtt escrow agentf�; covaid • <br />6. Bayer warrants and reprwnts that the only real ectzte <br />broker it has dealt with in Connection with the <br />property is Mr. George Newman of the Keyes Co., <br />Realtors, CMporate OMce, One S.E. Yd Avenue, <br />Pam.. E 1 <br />