HomeMy WebLinkAboutReso 98- 39
RESOLUTION NO. 98- '39
A RESOLUTION OF THE CITY OF SUNNY ISLES BEACH,
FLORIDA, APPROVING A CONTRACT FOR THE SALE
AND PURCHASE OF 17425 COLLINS A VENUE, KNOWN AS
BEACH COVE RESORT, TERMS AND CONDITIONS SET
FORTH ON EXHIBIT "A"; AUTHORIZING THE MAYOR TO
EXECUTE THE CONTRACT AND ANY AND ALL
DOCUMENTS NECESSARY TO EFFECTUA TE THE
TRANSFER; AUTHORIZING THE CITY MANAGER AND
THE CITY ATTORNEY TO TAKE WHATEVER ACTIONS
ARE NECESSARY TO EFFECTUATE THE TRANSFER.
WHEREAS, the City of Sunny Isles Beach became incorporated on June 16, 1997, does not
have any park land included within its corporate boundaries; and
WHEREAS, the Mayor and the Commission have expressed the desire to create a park for
the citizens of the City of Sunny Isles Beach and better facilitate oceanfront access; and
WHEREAS, the City Manager, the City Attorney and the Mayor have reviewed and analyzed
the number of ocean front properties and entered into negotiations on several of those properties and
have concluded the contract proposed to the City Commission represents the most favorable terms
and location for the City of Sunny Isles Beach;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1.
The purchase of Beach Cove Resort located at 17425 Collins Avenue, on the terms
particularly described in the contract of sale and purchase attached as Exhibit" A" are hereby adopted
and approved by the City of Sunny Isles Beach.
Section 2.
The Mayor is hereby directed and authorized to execute any and all documentation
to facilitate the transfer of this property.
Section 3.
The City Attorney and City Manager are hereby directed to take whatever action is
necessary to effectuate the transfer of this property on the terms set forth in Exhibit "A."
Res. on contract for park purchase
Section 4.
This Resolution shall become effective upon its adoption.
.-(l--
PASSED AND ADOPTED this 2~ day of March, 1998.
ATTEST:
rtC~~ ~-~~
Richard Brown- Morilla, City Clerk
APPROVED AS TO FORM
AND EGAL SUFFICIENCY:
Moved by: ~~t\~ .1~o.A
Second by: 0\u--~ \~
VOTE AS FOLLOWS:
Mayor Samson
Vice Mayor Turetsky
Commissioner Kauffman
Commissioner Iglesias
Commissioner Morrow
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CONTRAST FOR SALE AND PURCHASE FAR /BAR Ftssl
PAR .rms: John H. Gerken TTrrust�ceffee simple, & JaI AmSka Inc. leasehold inhe>est) ('Sever•),
of 209 TIE- 95t�5t • Ste 5 Meal ores FL —M-39 (rnone)
("Buyer"),
ana 1 o s es eac (phone) 305 947 -0606
of 17070 Coffins Ave. Ste 250 surinM Liles Beach, F1,33160
hereby agree that Seller shall sell and Buyer shall buy tl,e following described Real PropeMm dr•�ouiPmperty(witearOy'EE2 )upon the following terms and conditions, which
Include Standards for Real lstate'l'ransactions (- Rand.rd . ') on the reverse side hereof oraitached hereto and riders and addenda to this Contract for Sale and Purchase (•Coor.n').
L DESCRIPTION: Count Florida:
(a) Legal description of the Real Property located in Dade ee --t 3 County, TATUM' S OCEAN
The South 100 _feet of the r a P nun v.
(b) Street address, city, ziQ of the Property Is: i t -e -+ •+ •• - -
(c) Personal Property. All persona ro er no owne an ues s oca e
at the real ro er
II. PURCIiASE PRICE ................................................................................................................................................. ...............................
PAYMENT: in the amount of $
(a) Deposit held in escrow by
(b) Additional escrow deposit to be made within days after Effective Dale (as defined in Paragraph 111) in the amount of........5
(c) Subject to AND assumption of existing mortgage in good standing in favor of $
having an approximate present principal balance of .......................................................................... ...............................
(d) Purchase money mortgage and note to Seller (see addendum) in the amount of ............................................ ........................................ ...........S
(e) Other. -Q
(f) Balance to close by U.S. cash, LOCALLYDRAWNcertifiedorcashier' acheckorthird- pertyloan, subjecuoadjustmenlsorprorations .......$ , r
Ill. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT' OF
EXECUTION communicated in writing between the parties on or before March 1$ , 1998 , the deposit(s) will, at Buyer's option, be returned
and this offer withdrawn. Ilse date of Contract ('Effective Date) will ll the date when the last one of the Buyer and Seller has signed this offer.
A facsimile copy Of this Contract and any signatures hereon shall be considered for all purposes as originals.
IV. FINANCING:
(a) If the Purchase Price or any part of it is to be financed by a third -party loan, this Contract is conditioned on Buyerobtaining a written commitment withindaysa( terEf fectiveDatefor(CHECKONLYONE):[ lafized;( lanadjustable;orl I a fixed or adjustable rate loan in the principal amount of$ ears.
discount and origination fees not to exceed _% of the principal amount, and for a term of y
at an initial interest rate not to exceed %,
able diligence to Obtain a loan commitment and, thereafter, r' satisfy terms and
Buyer will make application within_ days after Effective Date and use reason
conditions of the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or In
to waive Buyer's tights under this
subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the terms and conditions of the commitment, then either party
thereafter, by written notice to the other, may cancel this Contract and Buyer shall be refunded the deposit(s); or
(b)'I'he existing mortgage described in Paragraph 11(c), above, has (CI IECK ONLY ONE):[ I a variable interest rate; or I ] a fixed interest rate l,al,
annum. At time of title transfer, some fixed interest rates are subject to increase; if increased, the rate shall not exceed P er annum. Seller s
within _days after Effective Date, furnish a statement from each mortgagee staling the principal balance, method of payment, interest rate and status of mortgage.
If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall shall promptly
paid the n cess yr
application and diligently complete and return it to the mortgagee. Any mortgagee charge(s) not to exceed $ P y y e t
is not accepted by mortgagee or the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in excess of the
stated amount, Selleror Buyer may rescind this Contract bywritten notice to the other party unless either elects to pay the increase in interest rate or excess mortgage charges.
V. TITLE EVIDENCE: At least 15 days before closing date, but no earlier than days after Seller receives written notification that Buyer has obtained
the loan commitment or has been approved for the loan assumption as provided in Paragraphs IV(a) or (b), above, or, if applicable, shall 9t h financing requirements,
(CIIECK ONLY ONE):lX I Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, or I I Buyer Buyer's obtain
(CHECK ONLY ONE):[X I abstract of title; or I I title insurance commitment (with legible copies of instruments listed as exceptions attached
thereto) and, after closing, an owner's policy of title insurance.
VI. CLOSING DATE: Ihis transaction shall beclosedand the deed and other closing papers delivered on .Tune 3 1998
unless modified by other provisions of this Contract.
VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other
requirements imposed by governmental authority, restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements
of record (easements are to be located contiguous to Real Property lines and not more than to feet in width as to the rear or front lines and 7 1/2 feet in
width as to the side lines, unless otherwise stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money mortgages,
if any (if additional items, see addendum); provided, that there exists at closing no violation of the foregoing and none prevent use of the Properly
formote1 purpose(s).
t
Vlll. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but if Property is intended to cy rented a occupied beyond closing, clo the
fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to Standard P. Seller shall deliver occupancy of Property to Buyer at time of closing
unless otherwise stated herein. If occupancy is to be delivered before closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible
and liable for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy unless otherwise stated herein.
IX. TYPEWRITTEN OR IIANDWRITI'EN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of
this Contract in conflict with them.
X. RIDERS: (CIIECK those riders which are applicable AND are attached to this Contract): OMEOWNERS' ASSOCIATION DISCLOSURE
(a) [X] COASTAL CONSTRUCTION CONTROL LINE (d) I j VA /FIIA (g) l ] H
(b) ( ] CONDOMINIUM (e) I J INSULATION (h) [ ] RESIDENTIAL LEAD -BASED HAZARD DISCLOSURE
(c) ( ] FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (f) IX] 'AS IS' (i) [ I
XI. ASSIGNABILITY: (CIIECK ONLY ONE): Buyer l I may assign and thereby be released from any further liability under this Contract;
I I may assign but not be released from liability under this Contract; or I)q may not assign this Contract.
X11. DISCLOSURES:
(a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to persons w o
are exposed to it over time. levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information
regarding Radon or Radon testing may be obtained from your County Public Ilealth unit.
(b) Buyer may have determined the energy efficiency rating of the residential building, if any is located on the Real Property.
(c) If the Real Property includes pre -1978 residential housing then Paragraph X (h) is mandatory.
XIII. MAXIMUM REPAIR COSTS: Seller shall not be responsible for payments in excess of:
(a) $ UU _ for treatment and repair under Standard D (if blank, then 2% of the Purchase Price).
(b) $ repair and replacement under Standard N (if blank, then 3% of the Purchase Price).
XIV. SPECIAL C ES; ADDENDA: If additional terms are to be provided, attach addendum and CIIECK HERE IXI.
THIS IS INTEND BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSI'OOD,SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
IIIS FORM iIAS EN APPROVED BY IIIE FLORIDA ASSOCIATION OF REALTORS AND IIIE FLORIDA BAR.
Approvaldoesn c stituteano inion tanyofthetermsandconditionsinthisContractshouldbeacceptedbythepartiesinaparticulartransaction .Tcrmsandconditions
shout e n Bated based upon t 4ve interests ob'ectives and bar¢atntn¢ Dositions of all interested persons.
CO PYRIG IT 5 aY TI E FLORIDA BAR AM1 �IIE FLORIDA ASS CIA'1'1 OF REALTORS
(
(Date)
(Date) (Seller) uyer)
i
Social Security or'I'az I.D. # Social Sec ity or I'ax
(Buyer) (Date)
Social Security or Tax LU. tM
Deposit under Paragraph Il (a) received; IF OTHER T19N CASI I, THEN SI
BROKER'S FEE:'Ilie brokers named below, including listing and cooperating
Name: No Broker
Listing Broker
FAR /RARJ RP"SFD 12/95
4A?
[or) Ul le'Tr'U ia (Date
Sof $i:cun 'Cy6r a .,tfi9- 61282'31
'TO CLEARANCE. (Escrow Agent)
are the only brokers entitled to compensation in connection with this Contract:
No Broker
Cooperating Brokers, If any 4)[ASF t Geoeoied by Digd•y sy.Ieau. tae. (941) 767 -5555
STANDARDS FOR REAL ESTATE TRANSAC'T'IONS
A. F.VIDEN1 E OF TITLE.- (1) An abstract of title prepared or broug
an existing firm) purpo sy
rting to be an accurate nopsis of the instrun
the Real Property is lorate0 through Effective llate. It shall comment
noun o -1 a purchase price, insuring Buyer's title to th
and those to be discharged by Seller at or before
ons provided in this Contract. Marketable title shall be
e with law. Buyer shall have 30 days if abstract or 5
Buyer shall within 3 days thereafter, notify Seiler in
.hit of notice to remove the defects, failing which Buye
BUYER'S /� ELLE 'S INITIAL /
a reputable and existing abstract firm (if not existing then certified as correct by
title to the Real Property recorded in the public records of The county wherein
rliest public records, or such later dale as may be customary in the count . Uf��on
to the right of retention thereof by first mortgagee until fully paid. (2�A Its lcic
fuqeq upon recording of the deed to Buyer, an owner's policy of title insurance
:u6jeel only to liens, encumbrances, exceptions or qualifications provided in This
dl convey marketable title subject only to liens, encumbrances, exceptions or
inK to applicable title Standards adopted by authority of The Florida [far and in
"I intent, from dale of receiving evidence oT title to examine it. If title is found
the defect(s). If defect(s) render title unmarketable Seller will have 30 days
14((5) days after expiration of the shirty (30) day perio;J, deliver written notice to
hin which Seller shall use diligent effort to remove the defects; or (2 requesting
I t otif Seller Bu er shall be deemed to have accepted the title as it then
a refund of deposit(sl pain which shall be immediately returned to Troyer. a nu w tai s to .so. n
is. Seller shall, if tittle is found unmarketable, use diligent effort to correct dyefecl(s within the time provided therefor. If Seller o unable this timely correct the
defects, Bu er shall either waive the defects or receive a refund of deposit(s), thereby releasing Buyer and Seller (room all further obligation under This Contract.
D. PURCHASE MONEY MOKMAGE; SR�URI7YAGREF.MF.Mf'f0 SELLER A purchase money mortgage and mortgagge note to Seller shall provide for a 30 day grace
period in the event of default if a first mortgage and a 15 -day grace period if a second or lesser mortgage; shall provide for right of prepayment in whole or in part
without penalty, shall ppeermit acceleration in event of transfer of the Real Property; shall require all poor liens and encumbrances to be kepi m goof standing ring
forbid modifications of [inure advances under prior mortgage(
shall require Buyer to maintain policies of insurance containing a standard mortgagee clause covering
all improvements located on the Real Property egrimst fire and offs perils included within the term extended covers a endorsements" and such other risks and perils as
Seller may reasonable require, in an amount eqqual to their highest insurable value; and the mortgage, note and securily agreement shall be otherwise in form and content
required by Seller, but Seller may only require cfauses and coverage customarily found in mortgages, nlorlgage notes and security agreements generally utilized by savings and
loan institutions or state or national banks located in the county wherein the Real Propert is located. All Personal Propeay and leases bung coal pay a asstKKI c will
at Seller's option, be subject to the lien of a security agreement evidenced by recordedyfinancing statements. If a balloon mortgage, the final payment wll exceed
the periodic pa ants thereon.
C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of tide and to examine same, may have the Real Property surveyed and certified
byaregisteredM idasurveyor; Ifthesurveydisclosesencroachmentson the Real Propertyor that improvements located thereon encroach on setback tines,easements, lands
of others or violate any restnctions, Contract covenants or applicable ggovernmental regulation, the same shall constitute a title defect.
D. TRRM�IES: Buyer, at Buyer's expense, within the time allowed to deliver evidence of title, may have the Property inspected byy a Florida Certified Pest Control
Operator E : Buy r to determine if there is any visible active termite infestation or visible damage from termite infestation in the Property. If either or both arc
found, Buy ave 4 days from date of written notice thereof within which to have cost of treatment if required, estimate) by the Operator and all damage inspected
and estimated by a licensed braider or general contractor. Seller shall ay valid costs of treatment anb repair of all damage up to the amount provided in Paragrapph
XIII(a). If estimated costs exceed that amount, Buyer shall have the option of canceling this Contract within 5 days after receipt of contractor's repair estimate liy
giving written notice to Seller or Buyer may elect to proceed with the transaction, and receive a credit at closing on the amount provided in
Para rapph__XIII(al. "termites" shall be deemed to include all wood destroying organisms required to be reported under the Florida Pesl Control Act, as amended.
E. 1�GRESS ANND EGRESS: Seller warrants and represents that There is ingress and egress to the Real Property sufficient for its intended use as described
in Para rapph VII hereof, title to which is in accordance with Standard A.
F. IJ�SES: Seller shall, not less than 15 days before closing, furnish to Buyer copies of all written leases and esto pct letters from each tenant
specif ing the nature and duration of the tenant s occu anry, rental rates advanced rent and security deposits paid by tenanC If Seller is unable to obtain
such Feuer from each tenant, the same information shall be Turnished by Seller to Buyer within that lime period ur the form of a Seller's affidavit, and Buyer
may thereafter contact tenants to confirm such information. Seller shall, at closing, deliver and assign all original leases to )toyer.
G. I,IF.NS: Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise pmvided for herein, of any financing
statement, claims of lien or potential lienors known to Seller and further attesting that there have been no impprovements or repairs to the Real Properly for, 90 days
immediately preceding date of closing. If the Real Properly has been improved or repaired within that time, S,ce' shall deliver releases or waivers of construction liens
executed ly all general contractors, subcontracrors, suppliers and materialmen in addition to Seller's lien affidavit setting forth the names of all such general
contractors, subcontractors, suppliers and materialmen, further affirming that all charges for improvements or repairs which could serve as a basis for a construction
lien or a claim for damnggc�s have been paid or will be paid at the closing of this Contract.
H. PLACE OF CLOSIN(;: Closing shall be held in the count wherein the Real Properly is located at the office of the attorney or other closing agent designated by Seller.
1. TIME: In computing time periods of less than six (6) days Saturdays, Sundays and state or national legal holidays shall he excluded. Any time periods provided
for herein which shall end on a Saturday, Sunday, or a legal hobda shall extend to 5:00 .m. of the next business day. Time is of the essence in this Contract.
anJlmnnggnagKee
estoppel le tears and corrective shall nstrumen s Buyer shall furnish )closing statement, mortgage,�m mortgage note ,securityfaggreementiandsfinanc ng statements.t
K. E olETVSES: Documentary stamps on the deed and recording of corrective instruments shall be paid 6y Seller. Documentary stamps and intangible tax r.
the purchase money mortgage and any mortgage assumed, and recording of purchase money mortgage to Seller, deed and financing statements shall be pail by the Buyer.
Unless otherwise provided try law or rider to this Contract, char es for the following . relate services, namely title or abstract charge, Lille examination, and
settlement and closingK fee shall be paid by the party responsible for urnishing the title evidence in accordance with Paragraph V.
L. PRORKrIONS; CREDITS: taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day before
closingg. Buyer shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing
shall be increased or decreased as may be reywired by roralions to be made through day prior to closing or occupancy i( occupancyp occurs before closing.
Advance rent end security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credued to Seller. Taxes stile be prorated based on
the current year's tax with due allowance made for maximum allowable discount, homestead and ogler exemptions. If dosing occurs at a date when the current year's
millage is not fixed and curent year's assessment is available, taxes will be prorated based upon such assessment and poor year's millage. If current year's
assessment is not available, then taxes will be prorated on prior year's tax. 1( there are completed improvements on the heal Property by January 1st of year
of closing, which impprovements were not in existence on January Ist of prior pear, then taxes shall be prorated based upon prior years millage ring al an
equitable assessment to be agreed upon between the parties; failing which, request shall he made to the County Propertyy Appraiser for an informal assessment Lakin
info account available exemptions. A tax proration based on an estimate shall, at request of either party, be readjusted upon reccip�
of tax bill on condition that a statement to that effect is signed at closin .
M. SPECIAL, ASSESSMENT LIENS: Certified confirmed and ratipied special assessment liens as of date of closing (not as of Effective Date) are to be paid
by Seller. Pending liens as of date of closingg shall be assumed by Buyer. If the improvement has been substantially completed as st Effective Date, any pending
lien shall be considered certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate or assessment for the
improvement bx thepmblic bog .
-rl u cvsiu s that
nor walls,
0011 all ail the ilei
XIII(b). Seller is not required to mane repairs or rcli —clo-1
for such repair or replacement exceeds the amount provided in f
this Contract. If Selfer is unable to correct the defects prior to
provide utilities service and access to the Property for inspectioi
the Real Property and, subject to the foregoing, that all requit
lawn shrubbery and pool, if an , has been maintained in the condi
O. RISK OF LOSS: If the Properly is damaged b fire or of
of the Property so damaged cos restoration shall be an obit
costs escrowed it closing. if the cost of restoration o °xeeeds .
,_,.._.. a._ Ve, .a — , i.,ve_ther with either the 3/0 or any
and
the
for
have 30 days
IT written dema
vacate the Rea
I take title as
or bill of sale.
institution as to place,, Tim
Seller shall have the right
any title defect at
�ursuant to Section 627.794
. ESCROW. Any escrow
in escrow and, subJ'ect to
pperformance. If in doubt at
the escrow until the partie
or Agent may deposit sam
on the part of Agent shal
Agent will comply with pi
Agent hereunder, or in an
these amounts to be paid
Agent shall not be habli
willful breach of the provisi
R. ATTORNEY'S FEES;
such litigation. which, for
red) or by an
i
report n writ
to have wai,
a arm or
ml
rac tor.
not meet
feels not
i cosmetic nature unless caused by a defect Seller is responsible to repair of I- - • ""
graph XIII(b), Buyer or Seller II mT c elect to pay such excess, fading which either party may cancel or ismg, the cost thereof shall be ppaid into escrow a1 closing. Seller shall upon reasonable notice,
including ,walk- through prior fo closing, to confirm chef all items 0f rersonal Property, are on
repairs and replacenments have been made and That Ilse Propeay, including, but clot limited to,
i existing as of Effective Dale, ordinary wear and tear excepted.
casualty before closing and cost of restoration does not exceed 3% of the assessed valuation
nT of the Seller and closing shall procec pursuant to the terms of this Contract with restoration
wraoce plocee" Pr able bf virtuerol au�halossaorgda111 geY orsloficanccligelhisl (ontractita1J
p PY Y
PROCEDURE:'ne deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title
to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the
all be held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days
rendered unmarketable, through no fault of Buyer, Bu er shall, within the 5 -Bay period, notify Seller in writing oft e
from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all deposn(s) and
nil by Dwyer and within 5 days ,her demand be returned to Buyer and, simultaneously with such repayment, Buyer shall return
I Property and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fails to make timely demand
is warng all ngtits against Selfer as to any intervening defect except as may be available to Buyer by virtue of warranties
I( a portion of the purchase price is to be derived from institutional financing or refinancing, requirements of the lending
nd procedures for closing, and for disbursement of mortgage proceeds shall control over contrary provision in this Contract.
from the lending institution a written commitment that if will not withhold disbursement of mortgage proceeds
as a result of
nortgagor. 111, escrow and closing procedure required by this Standard shall be waived if the title agent insures adverse matters
F.S.,Ias amended.
agent ( "A ent ") receiving funds or equivalent is authorized and agrees by acceplancc of them to deposit them promptly, hold same
: learance, disburse them in accordance with terms and conditions of this Contract. Failure of funds to clear shall not excuse Buyer's
to Agent's duties or liabilities under the provisions of this Contract, Agent may, at Agent's option, continue to hold the subject matter of
s hereto agree to its disbursement or until a )ud ement of a court or competent 'unsdiction shall determine the rights of the parties,
c with the Berk of the circuit court having juns fiction of the dispute. Upon roll ying all parties concerned of such action, at
i Iiabiliy
fully terminate, except to the extent of accounting, for any items previous) delivered out of escrow. If a licensed real estate broker,
ovisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seller wherein Agent is made a party because of acting as
suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's fees and costs incurred with
from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. 7hc
to any party or person for misdelivery to Buyer or Seller of items subject to the escrow, unless such misdelivery is due to
ms of this Contract or gross negligence of Agent.
COSTS: In any litigation{ including breach enforcement or interpretation, arising out of this Contract, the prevailing party in
purppores of this $laildard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authorized by
ed, shall be. entitled to recover from the non - prevailing pparty reasonable attorne 's fees, costs and expenses.
4ANCF.: If Buyer fails to perform this Contract within cite lime specified, incl, mf pa enl of all deposits, the deposit(s) paid ,y Buyer and
maybe recovered and retained by and for the account of Selle r as agreed upon liquidated damagges, conside ration for t he execution of this Cemtract
any claims; whereupon, Buyer and Seller shall be relieved of all obligations under lflis Contract; or Seller, at Seller's option, may
rce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title markelahle after diligent
„_6._...: or refuses to perform this Contract, the Buyer may seek specific performance or elect to receive the return of Buyer's deposits)
b �waivin any action for Ramages resulting from Seller's breach.
C NOT I CORDADLE, PF.RSUNS DOURD; NOTICE: Neither this Contract nor any notice of it shall be recorded in any public records.'Ihis Contract shall
re to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include
'en by or to the altomcy for any vday shall be as effective as if given by or to that party.
YAN(.h: Seller shall convey, title to the Real Properly by statutory warranty, trustee's, personal representative's or guardian's deed, as
to the status of Seller, subject only to matters contained in Paragraph.Vll and those otherwise accepted by Buyer. Personal Iroperty shall, at the
e Buyerr be tranf ell d by an absolute bill of sale with warranty of title, sub'cct only to such matters as may be otherwise provided for herein.
AGREEMENTS: No nor or present a reements or representations s all be binding upon Buyer or Seller unless included in this Contract. No
change in this Contract shall be valid or binding upon the parties unless in writing and executed by the party or parties intended to be bound by it.
_ . its abservable -by
1 0IASER Genenied by Display Sri,". Inc (941) 763 5515
R12/95 COPYRIGHT 1995111E FLORIDA BAR AND TILE FLORIDA ASSOCAMN OF REALTOR
ADDENDUM TO CONTRACT
Addendum No 1 to the Contract dated
between
John H. Gerken Trustee (fee sim le) & Jai Amika, Inc. (leasehold inberest)
city of Sunny Isles Beach
concerning the property described as:
The South 100 feet of the North 300 feet of Lot 3 of TATUM'S OCEAN
PARK SUBDIVISION recorded in Plat Book 10, Page 64, Dade County, FL
( the "Contract"). Buyer and Seller make the following terms and conditions part of the Contract:
1. This Contract is contin ent upon the following conditions:
a. Approval of the Contract b the City of Sunny Isles Beach
city Commission no later than the 17th day of March 1998.
b. Court approval of the Contract with respect to the fee
simple interest.
c Recei t by the City of Sunny Isles Beach of two (2)
a praisals as required by Section 166.045 Florida Statutes
_ as amended The appraisal of the real property (leasehold
and fee simple) shall be equal to or greater than the
Contract price.
2. John H. Gerken Trusteer and Buyer shall each pay for one
1 certified MAI appraisal of the real prop ert . In the
event the court does not approve the sale of the fee simple
portion of the real property, each party shall absorb the
cost of the appraisal on a one -third (1/3) basis each.
3 All real property and personal property is being Qurchased
in "as is where is" condition. Seller makes no representa-
tions or warranty of any type either expressed or implied as
to the condition and /or use of the real 2roperty and /or
personal 2roperty.
4. The purchase price shall be allocated as follows:
1 900 000 for the leasehold interest payable to Jai Amika
Inc. and 750,000 for the fee simple interest payable.to
John H. Gerkenr Trustee.
BUYER
FAR/BAR
Rev. 6/94
e.,v�.P- '
Date SELLER
re f L' LLlJ1Y
John H . er en, as
Trustee, Yuille Trust
U/A d/d 10/15/53
FLS
W
Date
V,x Y�,Or
Date
oLASER Generated by Display Syste
' SUNNY ISLES BEACH PAGE 62
03/13/19�1Q 11.44 305- 9474386
AUDENi7UN4 TO CONTRACT
Addendum No- 2
For Sale and Purchase Between John H. Gerken, Trustee, singularly known as `'fee simple owner" &
Jai ,%mika, Inc. singularly known as "Lessee" and collectively referred to as the "Seller" and by the
City of Sunny Isles Beach ( the "Buyer")
1. Incorporation by Reference, This Addendum No. 2 is attached
terms made
to part of the contract,
m
Ail ters of this addendum shall control ove y c
�,, Inspection. Buyer shall have the right at its sole coss and osiperlod') rtwenty-one eteproparty
after the date of the execution of the contract (tha "inspection p
and make inquiries with the pertinent government authorities of with respect to environmental uc.tir�g any environmental
issues. Buyer shall have access g the not limited for purposes n
tests upon the property, including but not limited to environmental assessments or audits, soil
and groundwater samplings, soil borings, percolation tests, i engineering er shad at topographical s
studies, as buyer in its discretion deems necessary or conven eu aru b a duly licensed
obtain air environmmental audit report of the property prep Y
environmental engineei or geologist. In the event thenvironmental rty or hazatdnus reflects tatelYal
hazardous materi als (as defined below) on or of s the Seller may correct or at its sole
disposal activities have been conducted on the property,
o
option may, with proper written notice to the Buyer, declare this contract dial action as w11
p y p a for the cost of such
provided however, Buyer, may, at its option, pay
rectify the probletns divulged by ally environmental tests- Hazardous petroleum teTi ls pears and
includes, without limitations, any flammable or explosive hazardous waste or toxic
products, explosives, radioactive materials, natural or synthetic gas,
substances or related materials as defined by Federal, Statr, or local law. Buyer shall be
responsible to restore the property to its original condition prior to testing if any damages
result from such testing.
3. Covenants, l; Representations and Warranties of the Seller . Seller hereby coMiftnts, represents
and warrants the following to the Buyer:
A) Jai Amika, Inc. is corporation duly authorized, validly existing in good standing and
qualified to do business under the laws of Florida n "Lessee"
c ws s la this Property
is State of
John H. Gerken is a bona fide court appointed trustee under
Florida and is the foe simple owner ofntb a PropertY. Seller has the .full unrestricted
power and authority to make deliver/�`tfir inco�fa� Ra1Kkx>d cbc�
tqdW d this contract. Seller is taking all necessary action to authorize
� f this contract, seller and Lessee agree, to execute any and all
documentation as required by the Buyer's title insurance company necessary to
terminate the leasehold interest simultaneous with the closing of this transaction.
Seller is not now insolvent or the subject any pending threatened or contemplated
bankruptcy, insolvency or other debtor relief proc6edings•
03/131. 1 9SIS 11;44 305- 9474.86
SUNNY ISLES BEACH
PAGE @3
B) There are no actionS, suits or proceedings pending or threatened against, by, or
affecting the Seller in any court, or before any government agency relating to the
ownership of, or Seller's ability to convey the pro!)erty.
C) Seller, John H. Gerken, as Trustee, is presently vested with good marketable ap_d
insurable fee simple title, Seller, Jai Amika, Inc, as long term lessee, represents it is the
sole party in possession as of this date and attaches a copy of the Lcase Agreement and
any amendments thereto. The Seller agrees that the lease may not be amended prior to
closing without the written consent of Buyer and that no new leasehold interest or
tenancies shall be created between the date of contract and the date of closing.
Both
4. ftokers/Sellezwarrant and represent at Bu shall not be responsible for any Brokers
involved in this transaction and/ �e��d dettt�i y and hold harmless the City, the Buyer,
from and against any costs, fees, damages, claims and liabilities arising including without
limitation attorney's fees tbxough all trial and appellate levels of litigation out of any claim
made by any Broker or salesman claiming by reason of its dealings with Buyer or Seller.
5, This contract is contingent upon approval of the City Commission on March 26, 1998 at its
reg ly scheduled meeting. This paragraph supercedcs Paragraph l.a. of the Addendum to
th on.tract.
Buyer Date Selle Date
Buy'(
Date eller Jhn H. C-erken,
�4rustee,cYuille Trust
U/A d/d 10/15/53
2
3 /07y/sY
as Datc
A F F I D A V I T
STATE OF FLORIDA
COUNTY OF DADE
Before me, the undersigned authority, personally
appeared JOHN H. GERKEN as Trustee of the Yuille Trust Under
Agreement dated October 15, 1953. JOHN H. GERKEN states
that he has not employed any realtor to represent him as
Trustee of the above - described Trust in connection with any
sale or transfer of the Trust interest in the lands,
commonly known AS 17425 Collins Avenue, Sunny Isles Beach,
Florida.
JOHN H. GERKEN
STATE OF FLORIDA
COUNTY OF DADE
I HEREBY CERTIFY that on this day, before me, an
officer duly authorized in the State aforesaid and in the
County aforesaid to take acknowledgments, personally
appeared JOHN H. GERKEN, who produced the following
identification or is%t6�me known to be
the person described in and who executed the foregoing
instrument and he acknowledged before me that he executed
the same.
Witness my hand and official seal in the County and
State last aforesaid this ;?y_ day of Marc 1998.
EDP fir-6;jy Notary Public
State of Florida at Large
THIS INSTRUMENT PREPARED BY
JOHN H. GERKEN, ESQ.
P. 0. BOX 530337
MIAMI, FLORIDA 33153
My Commission Expires:
WY A
t� I
0�
LAW OFFICES OF JOHN H. GERKEN, 209 NORTHEAST 951- STREET, MIAMI SHORES, FLORIDA 33138 . TEL. (305) 759 -1676
COASTAL CONSTRUCTION CONTROL LINE (CCCL) RIDER
ssrmvq
uwr[ N�
As provided by Section 16157, F.S., (1985), as amended, if the Real Property is located either partially or totally
seaward of the CCCL, then Seller at or prior to the closing, unless waived in writing by the Buyer, shall provide to
Buyer, an affidavit, or a survey meeting the requirements of Chapter472, F.S., (1985), delineating location of the CCCL
on the Real Property.
air hereby waives the requirement of the above- described affidavit
or survey.
FAR /BAR -7 Revised 1987
1'
OtASFR Generated by Display Systems. Inc. (941) 763.5 -W
To: City Commission
From: Lynn Dannheisser,
City Attorney
Date: March 26, 1998
Subject: RESOLUTION ON PURCHASE AND SALE OF 17425
COLLINS AVENUE KNOWN AS BEACH COVE RESORT,
FOR CITY PARKLAND
RECOMMENDATION
It is recommended that the City Commission adopt this Resolution approving the
terms and conditions of Contract for Sale and Purchase.
REASONS
The Mayor, the City Manager and I have negotiated on several pieces of oceanfront
property for the creation of a park and oceanfront access for the citizens of Sunny
Isles Beach. We believe the location and terms for the purchase of this property are
favorable for the City. The purchase price is $2,650,000. The closing date will occur
on or about June 3. While the City, by virtue of a prior resolution, has authorized the
Manager to execute an application to obtain funds from the Safe Neighborhood
Bonds Program and the Florida Communities Trust, even in the event the bond
financing is not available, the Finance Director and the City Manager have analyzed
the economic feasibility of this transaction and have concluded that the City has the
ability to purchase this property with or without the bond financing. It is therefore
recommended that the City Commission approve the execution of this agreement.
Respectfully submitted,
GynM D nnhei
Lynn M. a ss er
City Attomey
LMD:ch
Attachment