Reso 2001-363 - Laserfiche WebLink

Home Browse Search

SECOND ADDENDUM TO CONTRACT For Sale and Purchase between Golden Strand International, Inc., hereinafter referred to as the "Seller" and by the City of Sunny Isles Beach (the "Buyer"). 1. Incorporation by Reference. This Second Addendum is attached and made a part of the contract. All terms of this addendum shall control over any conflicting terms of the contract. 2. Contingencies. This Contract is contingent upon the occurrence of the following conditions: a. Approval of the Contract by the City Commission of the City of Sunny Isles Beach. b. Receipt by the Buyer of one (1) state approved MAl certified appraisals as required by Section 166.045, Florida Statutes (2000). The appraisal of the property shall be equal to or greater than the contract price, Buyer shall be responsible for cost of securing said appraisals. Buyer shall be entitled to consider the results of such appraisals in deciding whether to close on the property. 3, Inspection. a. Buyer shall have the right at its sole cost and expense until closing (the "inspection period") to inspect the property and make inquiries with the pertinent government authorities. Buyer shall have access to the property for purposes of conducting any tests upon the property, including but not limited to environmental assessments or audits, soil and groundwater samplings, soil borings, percolation tests, engineering and topographical studies, as buyer in its discretion deems necessary or convenient. Buyer shall at its expense obtain an environmental audit report of the property prepared by a duly licensed environmental engineer or geologist. In the event the environmental audit reflects any hazardous materials (as defined below) on or effecting the property or hazardous materials disposal activities have been conducted on the property, the Seller agrees to pay for correction of the matter not to exceed $10,000. In the event Seller elects not to remediate hereunder Buyer shall have the right to declare this contract null and void by giving notice to seller and any deposit shall be refunded. Hazardous materials means and includes without limitations any flammable or explosive materials, petroleum or petroleum products, explosives, radioactive materials, natural or synthetic gas, hazardous waste or toxic substances or related materials as defmed by Federal, State or local law. Buy'er shall be responsible to restore the property to its original condition prior to testing if any damages result from testing. b. Buyer shall give Seller reasonable advance notice of Buyer's inspections of the Property so that Seller, at its option, may have one of its representatives familiar with the Property accompany Buyer. Buyer agrees that reasonable precautions shall be taken in connection with such inspections so as to avoid any damage to the Property and to minimize any disruption to the parties in possession of the Property. Buyer shall indemnify, protect, defend and hold Seller and its personal representatives