Reso 2011-1795 - Laserfiche WebLink

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7. Pedestrian Crosswalk. Buyers agree to use commercially reasonable efforts and cooperate with the City to petition and effectuate subject to FDOT approval for a pedestrian cross walk and pedestrian traffic signal linking the East and West sides of Collins Avenue between the Property and the City of Sunny Isles Beach Government Center. Notwithstanding the foregoing, any delays in the issuance of the Building Permit due to any FDOT approvals shall not be deemed a default or delay on the part of Buyers and the time frames as set forth in the this Agreement for Purchase and Sale relating to the application and approval of a Building Permit shall be extended accordingly unless and until such time as approval is issued by FDOT in support of such Building Permit. In the event that Seller determines not to petition FDOT for approval of a pedestrian cross walk, the time frames set forth in this Agreement for Purchase and Sale shall be complied with. 8. Waiver of Permit Fees and Donation of "TDRs". In order to facilitate the development of the Project, Seller agrees to waive any building permit fees for the Project, except for fees imposed by other governmental agencies. Upon the approval of the City Commission which shall be given upon the acceptance and approval of this Agreement for Purchase and Sale, the City agrees to donate, without charge, 33,750 square feet of Transfer of Development Rights ("TDRs") to facilitate the development of the Project. The 33,750 square feet ofTDRs shall only be used for the Project and shall not be used for any other property or proposed development. Furthermore, if Buyers fail to close after Final Site Plan Approval, as defined in this Agreement, the City's donation of 33,750 square feet of TDRs shall be null and void. This provision shall survive Closing. 9. Closing Costs. Closing Costs. The parties shall bear the following costs: (a) Buyers shall be responsible for (i) the recording cost of the Deed, (ii) the cost of the Survey (if obtained by Buyers), (iii) the cost of the Commitment and the premium for the Title Policy obtained by Buyers. 5 of 17 ~': ,~ r~\ , ,I..... ..../ U :')