Reso 2008-1246 - Laserfiche WebLink

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r - l I FIRST AMENDMENT TO PARKING GARAGE AGREEMENT THIS FIRST AMENDMENT TO PARKING AGREEMENT made and entered into this 13- day of March, 2008, by and between the City of Sunny Isles Beach, Florida, a municipal corporation existing under the laws of the state of Florida (the "City") and Aventura Beach Club Condominium Association, Inc., a Florida corporation not for profit, (the "Association") whose business is located at 1920 I Collins Avenue, Sunny Isles Beach, Florida, 33160. WITNESSETH WHEREAS, in 2006 the City informed the Association that it acquired certain real property referred to as Heritage Park, a multi-use facility located at 19200 Collins Avenue in the City (the "Property"); and WHEREAS, on August 14,2006, the City and Crescent Heights XLIV., a Florida corporation, ("Crescent Heights") entered into an Assignment and Assumption of Parking Lease whereby the seller sold, transferred, assigned, set over and conveyed to the City all of Crescent Height's right, title and interest in and to that certain Parking Agreement dated September 1994 (attached hereto as Exhibit "A") between Crescent Heights and the Association granting the Association certain rights to park vehicles on the Property ( the "Parking Agreement"); and WHEREAS, the Parties disputed what rights and obligation each side had with respect to each other and wish to avoid litigation by settling on terms set forth below: NOW THEREFORE, in consideration of ten dollars ($10.00), and other good and valuable consideration, and in further consideration of the mutual covenants and promises set for the in this instrument it is agreed as follows: 1. Assi!!:nment of Parkin!!: Soaces at the Gara!!:e: It is hereby agreed upon and understood by the parties that the September 1994 Parking Agreement authorizes the assignment of 3 93 (three hundred and ninety three) parking spaces to the Association. Notwithstanding, the City hereby agrees to assign 400 (four hundred) parking spaces at the Garage for the exclusive use of the Association to park vehicles of unit owners, guests and employees and invitees. 2. General Parkin!!: Plan: The garage the City contemplates building will be underground and the Association's parking shall be substantially in accordance with the attached Parking Plan if the City builds an underground garage (the "Parking Plan"). Exhibit "B". However, the City in its discretion may elect to build a stand alone above ground garage in which case there will be no tandem parking spaces and the Association shall be provided with parking spaces in said garage reasonably proximate to each other. Prior to the commencement of construction, and during construction until the construction of the garage, defined as when the Association is permitted to begin using First Amendment to Parking Agreement