Reso 2001-321 - Laserfiche WebLink

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OFf. lEe. .. 2 0 2 7 7 PG 4 11 9 WHEREAS, it is the intention of all parties that the dedicated portion would be used to replace the vacated portion with the intention that it be used by the public as a right-of-way for travel and for any other public purpose on North Bay Road; and WHEREAS, the City has agreed to hold the vacation of the road as described herein "in escrow" until the Owner has provided the City with all the necessary documentation to complete the dedication which includes, but is not limited to, the right-of-way deed for the dedicated property, recorded plat of the dedicated road, opinion of title, and all requested conveyance documents; and WHEREAS, the City Commission has determined that the particular portion of North Bay Road described herein is presently needed by the citizens of the City as a public right-of- way and the City is proposing to vacate the road only upon the condition that the Owner construct a replacement road for the City in accordance with all required local, State and Federal rules and regulations; and WHEREAS, the City Commission has determined based on the report of the Zoning and Code Administrator that the vacation of the portion of North Bay Road will not have an adverse impact on the citizens of the City so long as the Owner constructs a replacement road for the City on the conditions herein and further that such realignment will have a significant positive effect on the economic development of the City and, therefore, greatly benefit its residents; and WHEREAS, the Owner has agreed, among other things, to pay all costs associated with the streetscape improvements of the newly dedicated property near North Bay Road, including but not limited to, intersection alignment, asphalt overlay, installation of poured concrete curb and gutter, sidewalks, drainage improvements, landscaping and irrigation, all to the greater benefit of the residents of the City; NOW THEREFORE, in consideration of the sum of Ten and Noll 00 Dollars ($10.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by reference as if they were fully set forth herein. 2. Conditions Required For Vacation. That the City Commission of the City of Sunny Isles Beach hereby agrees to abandon and vacate that portion of North Bay Road described in Exhibit "A" upon the occurrence of all of the following conditions: (1) Owner provides the City with an Opinion of Title within thirty days subsequent to the adoption of Resolution No.: 2001-321; and (2) Owner provides the City with an opportunity to review all required conveyance and dedication documentation relating to dedicated property as specified in said Resolution; and Agreement to Vacate North Bay Road ] 7070 Collins Ave. Shopping Center, Ltd. Ch 5/8/0] ]2:05 PM Attomey3/Gen. 2