HomeMy WebLinkAboutReso 99-133
~SOLUTION NO. 99-~
A RESOLUTION OF THE CITY OF SUNNY ISLES BEACH,
FLORIDA, APPROVING THE PURCHASE OF VACANT
PROPERTY DESCRIBED AS TRACT A OF THE PERU
TOWERS SUBDIVISION, AS RECORDED IN PLAT BOOK
99, PAGE 66, OF THE PUBLIC RECORDS OF DADE
COUNTY, LOCATED BETWEEN NORTH BAY ROAD AND
181sT AND 182ND STREET, UNDER THE TERMS AND
CONDITIONS PROVIDED IN THE CONTRACT OF
PURCHASE AND SALE ATTACHED HERETO AS EXHIBIT
"A"; AUTHORIZING THE MAYOR TO EXECUTE SUCH
CONTRACT; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Mayor and Commission have expressed a desire to create an additional park
on North Bay Road, among other things, as an active playground; and
WHEREAS, the Mayor has now negotiated and agreed upon the best price for the property,
subject to Commission approval;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES AS FOLLOWS:
Section 1.
Approval of Contract. The proposed Contract for Sale and Purchase by and between
ISMA T Corp., a Florida corporation and the City of Sunny Isles Beach for the purchase of vacant
property described as Tract A ofthe Peru Towers Subdivision, as recorded in Plat Book 99, page 66,
of the Public Records of Dade County, located between North Bay Road and 181 st and 182nd Street,
as more fully set forth as Exhibit "A" hereto, be, and the same is, hereby approved by the City
Commission of the City of Sunny Isles Beach.
Section 2.
Execution of Agreement. The Mayor is hereby directed to executed said contract and
the City Attorney is hereby directed to prepare and approve any further documentation to effectuate
the sale on behalf of the City of Sunny Isles Beach.
Purchase from Ismat CO'll'
-1-
Section 3.
Effective Date. This Resolution shall be effective upon its adoption.
PASSED AND ADOPTED this 15th day of April,
,~ .,"" \': .~. ':~,2::>"
t:v,.,oz
"...
}"t ,.l
,:'~~ ':. .Ii,"
,t ') ~,'; , \'"
t ,," ,-p, '"
" """ d', '."
"] :"',~.;../ -~",:.\
:.) '~'> ;AT .'8, T'
" J ,,\ '~~ '.c".
':c ,'. 1-
?Ii~': ~ 1i
",':t",'tA.d ~
'. chard Brown-Morilla, City Clerk
David Samson, Mayor
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
Moved by:
Seconded by:
~~
- ~ '
Vote: 5-U
Mayor Samson
Vice Mayor Turetsky
Commissioner Iglesias
Commissioner Kauffman
Commissioner Morrow
v (Yes)
V(Yes)
~(Y es)
(Yes)
_(Yes)
_(No)
_(No)
_(No)
_(No)
_(No)
Purchase from Ismat Corp.
-2-
PAITnes; ISMAT CORP., a Florida corporation
of (Phone)
and THE CITY OF SUNNY ISLES BEACH
of 17070 Collins Avenue, Suite 250, Miami Beach, FL (Phone)
hereby agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively 'Properly') upon the following terms and conditions, which
Include Standards for Real Estate Transactions ("Standard(s)') on the reverse side hereof or attached hereto and riders and addenda to this Contract for Sale and Purchase ("Contracf).
I. DESCRIPTION:
(a) Legal description of the Real Property located in Miami —Dade County, Florida: Folio No. 31- 2211 -019 -0010
Tract A of THE PERU TOWERS SUBDIVISION, as recorded in Plat Book 99, Page 66, of the
Public Records of Dade County, Florida
(b) Street address, city, zip, of the Property is:
(c) Personal Property: NONE - VACANT LAND
II. PURCHASE PRICE: ......................................................................................................................................................................................................... S 1,000,000.00
PAYMENT:
(a) Deposit held in escrow by CHRISTOPHER P. KELLEY, P. A. , TRUST ACCOUNT in the amount of ...... $ 50,000.00
(b) Additional escrow deposit to be made within days after Effective Date (as defined in Paragraph III) in the amount of $ N/A
(c) Subject to AND assumption of existing mortgage in good standing in favor of
having an approximate present principal balance of .. ............................... $ _N/A
(d) Purchase money mortgage and note to Seller (see addendum) in the amount of ..................................................................... ............................... S___ _ N/A
(e) Other: _ $ N/A
I Balance to close by U.S. cash, LOCALLY DRAWN certified or cashier's check or third-party loan, subject to adjustments or prorations $ 950.000.00
III. TIME FOR ACCEPTANCE OF OFFER, EFFECTIVE DATE; FACSIMILE: If this offer in not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing
between the parties on or befor;R 99 , the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. The dale of Contract ( "Effective Date ") will
be 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 Buyer obtaining a written commitment within _ days after Effective
Date for (CHECK ONLY ONE): U a fixed; U an adjustable; or U a fixed or adjustable rate loan in the principal amount of $ , at an initial interest rate not to
exceed %, discount and origination fees not to exceed % of principal amount, and for a term of years. Buyer will make application within ___ days after Effective
Date and use reasonable diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of the commitment and close the loan. Buyer shall pay all loan
expenses. If Buyer fails to obtain a commitment or fails to waive Buyers rights 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) The existing mortgage described in Paragraph ll(c), above, has (CHECK ONLY ONE): U a variable interest rate; or U a fixed interest rate of % per annum. At time of title
transfer, some fixed interest rates are subject to increase; if increased, the rate shall not exceed % per annum. Seller shall, within days alter Effective Dale, furnish a
statement from each mortgagee stating the principal balance, method of payment, interest rate and status of mortgage. II Buyer has agreed to assume a mortgage which requires
approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the necessary application and diligently complete and return it to the mortgagee. Any mortgagee
charge(s) not to exceed $ shall be paid by Buyer. If Buyer 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, Seller or Buyer may rescind this Contract by written notice to the other party unless either
elects to pay the increase in interest rate or excess mortgage charges.
V. TITLE EVIDENCE: At least 20 days before closing date, but no earlier than 45 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, waived the financing requirements, (CHECK ONLY ONE): J Seller shall, at Seller's
expense, deliver to Buyer or Buyers attorney; or U Buyer shall at Buyers expense obtain (CHECK ONLY ONE): diabstracl of title; or O 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: This transaction shall be closed and the deed and other closing papers delivered on June 15, 1999 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 10 feet in width as to the rear or front lines and 7 112 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and
subsequent years; assumed mortgages and urchase money mortgages, it any (if additional items, see addendum); provided, that there exists at closing no violation of the fuiegoing
and none prevent use of the Property for City park site purpose(s).
VIII. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but if Property is intended to be rented or occupied beyond closing, the fact and terms thereof
and the tenant(s) or occupants shall be disclosed pursuant to Standard F. 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 dale of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to
have accepted Properly in its existing condition as of time of taking occupancy unless otherwise stated herein.
IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them.
X. RIDERS: (CHECK those riders which are applicable AND are attached to this Contract):
(a) U COASTAL CONSTRUCTION CONTROL LINE (d) U VA/FHA (g) U HOMEOWNERS'ASSOCIATION DISCLOSURE
(b) U CONDOMINIUM (e) ❑ INSULATION (h) U RESIDENTIAL LEAD -BASED HAZARD DISCLOSURE
(c) ❑ FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (f) XT "AS IS" (1) ❑
XI. ASSIGNABILITY: (CHECK ONLY ONE): Buyer U may assign and thereby be released from any further liability under this Contract; U may assign but not be released from liability
under this Contract; or U may not assign this Contract.
XII. DISCLOSURES:
(a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to persons who 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 Health 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) $ —0— for treatment and repair under Standard D (if blank, then 2% of the Purchase Price).
(b) $ —0— for repair and replacement under Standard N (if blank, then 3% of the Purchase Price).
XIV. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE U.
THIS 1 INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
T S FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
Approval doe t constitute o r ion that any 0t the terms and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions should
be negotiated based upon the respective interests, objectives and bargai ' positions of al ' ferested persons.
CI y E Y HT 1995 BY THE
� FLORIDA BAR AND THE I S RI SSOCIATION REALTORS
BY [{I k" ICI BY: • (B er) , Mayor (Dat) •( Iler) (Dale)
Social Security or Tax I.D. If $6cial Security or T/ D.
I
(Buyer) (Date) (Seller) (Date)
Social Security or Tax I.D. # Social Security or Tax I.D. If
Deposit under Paragraph II (a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE. (Escrow Agent)
BROKER'S FEE: The brokers named below, including listing and cooperating brokers, are the only brokers entitled to compensation in connection with this Contract:
Name:
Listing Broker Cooperating Brokers, If any
FAR/BAR -4 Revised 12195 FAR/BAR 12/95 RIDERS CAN BE OBTAINED FROM FLORIDA LAWYERS SUPPORT SERVICES, INC. (FLSSI)
A. EVIDENCE OF TITLE: (1) An abstract tol life prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting
to be an accurate synopsis of the instruments affecting title to the Real Properly recorded in the public records of the county wherein the Real Properly is located through Effective Date. It
shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract, the abstract shall become the property of Buyer, subject
to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance commitment issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the
deed to Buyer, an owners policy of title insurance in the amount of the purchase price, insuring Buyer's title to the Real Property, subject only to liens, encumbrances, exceptions or
qualifications provided in this Contract and those to be discharged by Seller at or before closing. Seller shall convey marketable title subject only to liens, encumbrances, exceptions or
qualifications provided in this Contract. Marketable title shall be determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer
shall have 30 days, if abstract, or 5 days, it title commitment, from date of receiving evidence of title to examine it. If title is found defective, Buyer shall within 3 days thereafter, notify Seller
in writing specifying the defect(s). If defect(s) render title unmarketable, Seller will have 30 days from receipt of notice to remove the defects, failing which Buyer shall, within five (5) days
after expiration of the thirty (30) day period, deliver written notice to Seller either: (1) extending the time for a reasonable period not to exceed 120 days within which Seller shall use diligent
effort to remove the defects; or (2) requesting a refund of deposit(s) paid which shall be immediately returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have
accepted the title as it then is. Seller shall, if title is found unmarketable, use diligent effort to correct defect(s) within the time provided therefor. If Seller is unable to timely correct the defects,
Buyer shall either waive the defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligation under this Contract.
B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage 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 permit acceleration
in event of transfer of the Real Properly; shall require all prior liens and encumbrances to be kept in good standing and forbid modifications of or future advances under prior mortgage(s):
shall require Buyer to maintain policies of insurance containing a standard mortgagee clause covering all improvements located on the Real Property against fire and all perils included within
the term "extended coverage endorsements" and such other risks and perils as Seller may reasonable require, in an amount equal to their highest insurable value; and the mortgage, note
and security agreement shall be otherwise in form and content required by Seller; but Seller may only require clauses and coverage customarily found in mortgages, mortgage notes and
security agreements generally utilized by savings and loan institutions or state or national banks located in the county wherein the Real Property is located. All Personal Property and leases
being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evidenced by recorded financing statements. If a balloon mortgage, the final payment will
exceed the periodic payments thereon.
C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have the Real Property surveyed and certified by a registered Florida
surveyor. If the survey discloses encroachments on the Real Properly or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions,
Contract covenants or applicable governmental regulation, the same shall constitute a title defect.
D. TERMITES: Buyer, at Buyers expense, within the time allowed to deliver evidence of title, may have the Property inspected by a Florida Certified Pest Control Operator ( "Operator') to
determine if there is any visible active termite infestation or visible damage from termite infestation in the Properly. If either or both are found, Buyer shall have 4 days from date of written
notice thereof within which to have cost of treatment, if required, estimated by the Operator and all damage inspected and estimated by a licensed builder or general contractor. Seller shall
pay valid costs of treatment and repair of all damage up to the amount provided in Paragraph 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 by 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 Paragraph XIII(a). "Termites" shall be deemed to include all wood destroying organisms required to be reported under the Florida Pest Control Act, as amended.
E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Properly sufficient for its intended use as described in Paragraph VII hereof, title to
which is in accordance with Standard A.
F. LEASES: Seller shall, not less than 15 days before closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature and duration of the
lenanl's occupancy, rental rates. advanced rent and security deposits paid by tenant. If Seller is unable to obtain such letter from each tenant, the same information shall be furnished by
Seller to Buyer within that time period in 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 Buyer.
G. LIENS: Seller shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statement, claims of lien or potential
lienors known to Seller and further attesting that there have been no improvements or repairs to the Real Property for 90 days immediately preceding date of closing. If the Real Property
has been improved or repaired within that lime, Seller shall deliver releases or waivers of construction liens executed by all general contractors, subcontractors, 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 damages have been paid or will be paid at the closing of this Contract.
H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real Property is located at the office of the attorney or other closing agent designated by Seller.
I. TIME: In computing time periods of less than six (6) days, Saturdays, Sundays and slate or national legal holidays shall be excluded. Any time periods provided for herein which shall end
on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. of the next business day. Time is of the essence in this Contract.
J. DOCUMENTS FOR CLOSING: Seller shall furnish the deed, bill of sale, construction lien affidavit, owners possession affidavit, assignments of leases, tenant and mortgagee estoppel
IRhers and corrective instruments. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement and financing statements.
K. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by Seller. Documentary stamps and intangible lax on the purchase money mortgage
and any mortgage assumed, and recording of purchase money mortgage to Seller, deed and financing statements shall be paid by the Buyer. Unless otherwise provided by law or rider to
this Contract, charges for [lie following related title services, namely title or abstract charge, title examination, and settlement and closing fee, shall be paid by the party responsible for
furnishing the title evidence in accordance with Paragraph V.
L. PRORATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses of the Properly shall be prorated through the day before closing. 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 required by proralions to
be made through day prior to closing or occupancy if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will
be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs
at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current years
assessment is not available, then taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1st of year of closing, which improvements
were not in existence on January 1st of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assessment to be agreed upon between the parties;
failing which. request shall be made to the County Properly Appraiser for an informal assessment taking into account available exemptions. A tax proration based on an estimate shall, at
request of either party, he readjusted upon receipt of tax bill on condition that a statement to that effect is signed at closing.
M. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller. Pending liens as of
data of closing shall be assumed by Buyer. If the improvement has been substantially completed as of 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 by the public body.
N. INSPECTION, REPAIR AND MAINTENANCE: Seller warrants that, as of 10 days prior to closing, the ceiling, root (including the fascia and soffits) and exterior and interior walls,
foundation, seawalls (or equivalent) and dockage do not have any VISIBLE EVIDENCE of leaks, water damage or structural damage and that the septic tank, pool, all appliances, mechanical
items. heating, cooling. electrical, plumbing systems and machinery are in WORKING CONDITION. The foregoing warranty shall be limited to the items specified unless otherwise provided
in an addendum. Buyer may. at Buyer's expense, have inspections made of those items by a firm or individual specializing in home inspections and holding an occupational license for such
purpose (if required) or by an appropriately licensed Florida contractor. Buyer shall, prior to Buyer's occupancy or not less than 10 days prior to closing, whichever occurs first, report in writing
to Seller such items that do not meet the above standards as to defects. Unless Buyer timely reports such defects, Buyer shall be deemed to have waived Seller's warranties as to defects
not reported. If repairs or replacements are required to comply with this Standard, Seller shall cause them to be made and shall pay up to the amount provided in Paragraph XIII(b). Seller
is not required to make repairs or replacements of a cosmetic nature unless caused by a defect Seller is responsible to repair or replace. If the cost for such repair or replacement exceeds
the amount provided in Paragraph XIII(b), Buyer or Seller may elect to pay such excess, failing which either party may cancel this Contract. If Seller is unable to correct the defects prior to
closing. the cost thereof shalt be paid into escrow at closing. Seller shall, upon reasonable notice, provide utilities service and access to the Property for inspections, including a walk - through
prior to closing. to confirm that all items of Personal Property are on the Real Property and, subject to the foregoing, that all required repairs and replacements have been made and that
the Properly, including, but not limited lo, lawn, shrubbery and pool, if any, has been maintained in the condition existing as of Effective Date, ordinary wear and tear excepted.
0. RISK OF LOSS: If the Property is damaged by fire or other casualty before closing and cost of restoration does not exceed 3% of the assessed valuation of the Property so damaged,
cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms of this Contract with restoration costs escrowed at closing. If the cost of restoration
exceeds 3% of the assessed valuation of the Properly so damaged, Buyer shall have the option of either taking the Property as Is, together with either the 3% or any insurance proceeds
payable by virtue of such loss or damage, or of canceling this Contract and receiving return of the deposit(s).
P. PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If an abstract of title has been furnished, evidence of title shall be continued at
Buyer's expense to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be
held in escrow by Seller's attorney or other mutually acceptable escrow agent for a period of not more than 5 days after closing date. If Sellers title is rendered unmarketable, through no
fault of Buyer, Buyer shall, within the 5 -day period, notify Seller in writing of the detect and Seller shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails
to timely cure the defect, all deposits) and closing funds shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment,
Buyer shall return the Personal Property, vacate the Real Properly and reconvey the Property to Seller by special warranty deed and bill of sale. If Buyer fails to make timely demand for
refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of
sale. If a portion of the purchase price is to be derived from institutional financing or refinancing, requirements of the lending institution as to place, time of day and procedures for closing.
and for disbursement of mortgage proceeds shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a written commitment that
it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer- mortgagor. The escrow and closing procedure required by this Standard shall be
v:aived it the title agent insures adverse mailers pursuant to Section 627.7841, F.S., as amended.
0. ESCROW: Any escrow agent ( "Agent') receiving funds or equivalent is authorized and agrees by acceptance of them to deposit them promptly, hold same in escrow and, subject to
clearance. disburse them in accordance with terms and conditions of this Contract. Failure of funds to clear shall not excuse Buyer's performance. If in doubt as 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 the escrow until the parties hereto agree to its disbursement or until a judgement
of a court of competent jurisdiction shall determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute. Upon notifying all
parties concerned of such action. all liability on the part of Agent shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. If a licensed real
estate broker. Agent will comply with provisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder,
or in any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's fees and costs incurred with these amounts to be paid from and out of
the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shall not be liable to any party or person for misdelivery to Buyer or
Seller of items subject to the escrow, unless such misdelivery is due to willful breach of the provisions of this Contract or gross negligence of Agent.
R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litigation, which, for purposes of
this Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authorized by Chapter 475, F.S., as amended, shall be entitled to recover from the
non - prevailing party reasonable attorney's fees, costs and expenses.
S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by Buyer and deposit(s) agreed to
be paid. may be recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for the execution of this Contract and in full settlement of any
claims: whereupon, Buyer and Seller shall be relieved of all obligations under this Contract; or Seller, at Sellers option, may proceed in equity to enforce Seller's rights under this Contract.
11 for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller faits, neglects or refuses to perform this Contract, the Buyer may seek specific
performance or elect to receive the return of Buyer's deposit(s) without thereby waiving any action for damages resulting from Seller's breach.
T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE: Neither this Contract nor any notice of it shall be recorded in any public records. This Contract shall bind and inure to
the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for
any party shall be as effective as if given by or to that party.
U. CONVEYANCE: Seller shall convey title to the Real Properly by statutory warranty. trustee's, personal representative's or guardian's deed, as appropriate to the status of Seller, subject
only to matters contained in Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, at the request of the Buyer, be transferred by an absolute bill of sale with warranty
of title. subject only to such matters as may be otherwise provided for herein.
V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or 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.
W. WARRANTY: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been
dicclosecWo Buyer.
- COPYRIGHT 095 THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORse'
ADDENDUM TO CONTRACT
The parties to the contract, ISMAT CORP., a Florida corporation (referred to as "Seller") and the
C1.TY OF SUNNY ISLES BEACH (referred to as `Buyer "), hereby understand and agree that the
teens of the printed Contact are amended hereby. Where in conflict with the terms of the printed
Contract, the terms and conditions of the Addendum shall be applicable and shall prevail.
T}ie parties agree as follows:
(1.) INSPECTION. '
(a) Buyer shall have the right at its sole cost and expense, for thirty (30) days
after the effective date of this Contract, to inspect the property. 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, and
Sellers refuse to pay the expenses relating to any required correction or remediation,
then buyer shall have the option to purchase the property in its existing condition or
to terminate this Contract in which event the deposit given hereunder shall be
refunded. Hazardous materials mean and include without limitations any flammable
or explosive materials, natural or synthetic gas, hazardous waste or toxic substances
or related materials as defined by Federal, State or local law.
(b) Sellegr represents to the Buyer that they have not reviewed or obtained
environmental reports as to the subject real property; that they know of no
environmental deficiencies.
(2) COVE NANr S RPRESENTATjQ -VSQ,N WAggANT1FS „OFD LER Sellerhereby
covenants, represents and warrants the following to the Buyer:
(a) Each party executing this Contract has the full, unrestricted authority tom ake
deliver, enter into the terms and condition of this Contract and shall enter into all
documentation arequired byBuyer's title insurance company, as required by the title
insurance commitment that will be obtained by Buyer.
(b) Seller is not insolvent and is not the subject of any pending, threatened or
contemplated bankmptcy, insolvency or other debtor relief proceedings. 'there are
•1-
no actions, suits or proceedings pending or threatened against, by, or affecting the
Seller in any court or before any governlnent agency relating to the ownership of, or
Seller's ability to convey the property.
(3 ► A,5_zt 4WI, This Contract may be assigned by Seller. If an assiV=ent of this interest
shall occur prior to closing, there must be ;full disclosure as to each party in interest in
compliance with the laws of the State of Florida and the City Code for the City of Sunny
Isles ,Beach.
(4) B3. OJUR. It is understood and agreed that the Keyes Company is the sole and only real
estate broker involved in this transaction. Each party represents to the other that they have
dealt with no realtor other than the Keyes Company in this transaction. Seller warrants and
represents that ,Buyer shall not be responsible for any brokerage commission for this
transaction and agree to inderimify and hold harmless the Buyer from and against any costs,
fees, damages, claims and liabilities arising including, without liwitation, attorney's fees
t4rough all trial and appellate levels of litigation adsixlg out of any claim made by any broker
ox- salesperson claiming by reason of its dealings with Sellers. T
n.
th that tha coswnisAwa ghm y e ue is
i iraa ast� If this transaction fails to close for an reason then no coloe ion will be due.
��vmm.Jt on W,'!/ he (Oci,d #y /e/14�41e ag yeQp"ehr
(5) DISC"LOSLM. The laws of the State of Florida amid the City Charter City of Sunny
Isles Beach requires full sworn and notarized disclosure as to all parties in interest as to each
Seller in this transaction. This disclosure must be provided to Buyer within ten (10) days of
the effective date of this Contract and shall included the following information;:
(a) Identity of property and name of owner;
(b) Names and addresses of each person or entity holding an interest either as owner or
shareholder of owner; Find
(c) For to corporate owner, the naiIles and addresses of each officer and director.
(G) SUIM —Y. Seller shall provide, within thirty (30) days at their expense, a survey or the
subject real'property certified to the City of Sunny Isles Beach and Chicago Title insurance
Company. The parties shall share equally the cost of tale survey.
(7) laELETEb PROVISIONS. The printed provision of number IV of the Contract are hereby
deleted. Tho printed provisions of Items B, D and N of the Standards for Real Estate
Transactions oil the Contract are hereby deleted.
(8) DAMAGES. Notwithstanding the printed portion of the Contract, it is understood and
agreed that in the event of Seller default, Buyer shall have the right to seek specific
Performance; however, Buyer waives the right to seek damages from Seller in connection
with atiy default.
(9) LKR .A.�ENT1 The escrow agent for this transaction will be Christopher P. Kelley,
P.A. _ _ _..._ ._....._.._
(10) CONTINGENCY. This Contract is contingent upon the approval by the City COnmX scion
of the City of Sunny Isles Beach no later than May 13, 1999.
READ AND APPROVED:
CITY OF S ISLES CH, FLORIDA, ISMA.T C RP., a Florida corporation
By
By: �--
David Sainion, Mayor 'resident
Date: fo Date:
City of Sunny Isles Beach
17070 Collins Avenue, Suite 250
Sunny Isles Beach, Florida 33160
(305) 947 -0606 phone (305) 949 -3113 fax
David Samson
Mayor
Irving Turetsky
Vice Mayor
Commissioners
Danny Iglesias
MEMORANDUM
Lila Kauffman
Connie Morrow
James DiPietro TO:
City Commission
City Manager
Lynn M. Dannheisser FROM:
David Samson, Mayor
City Attorney
DATE:
April 15, 1999
RE: PURCHASE OF THE NORTH BAY ROAD PROPERTY
LOCATED BETWEEN 181ST AND 1821VD STREET
RECOMMENDATION
It is recommended you approve the attached contract for the purchase of the North
Bay Road Property located between 181" Street and 182nd Street on the attached
terms and conditions.
REASONS
I have begun to observe the growing number of children in our new City and felt
we should consider the need for an active playground for our kids. Because we
have received grant monies for our other park sites on the condition that we keep
the sites for passive park use, I am hoping you will endorse this site as a park for
an active playground. I believe we have gotten the best price and terms and
conditions.
Respec fully su fitted,
:ch
Attachment(s)
9A
CST il OF SUN 01D
David Samson
Mayor
Irving lbretsky
Vice Mayor
Commissioners
Danny Iglesias
Lila Kauffman
Connie Morrow
James DiPietro
City Manager
Lynn M. Dannheisser
City Attorney
City of Sunny Isles Beach
17070 Collins Avenue, Suite 250
Sunny Isles Beach, Florida 33160
(305) 947 -0606 phone (305) 949 -3113 fax
March 19, 1999
George Newman
Keyes Company
1 S.E. 3`d Avenue
Miami, FL 33131
Subject: 2 Acre Site - Miami -Dade County Folio #30- 22 -11- 019 -0010
Dear Mr. Newman:
Please consider this letter an offer by the City of Sunny Isles Beach to purchase the
above referenced vacant land, for $950,000. The closing date is negotiable, subject
to a formal contract acceptable to the attorneys for both parties and a ratifying vote
of the City Commission.
Thank you for your assistance to date and for your forwarding of this offer to the
property owner.
Sincerely,
CITY S LES BEACH
Dave Samson
Mayor
DS /pw
cc: James DiPietro, City Manager
Lynn Dannheisser, City Attorney
Attachments
a
'�. ..,%:r "' .�,.. .. �-!� a �.�,rwJ �•4��.,7�.11i.�r'•,� ^1`- 1�•.. .. ,.� • i,�..
.. , - _ ,. 1'.a �'^. /•/yam. ^ � �+.+. ?'••, r-,� �•' - •-1 ••1!'
TR
T R A •TRACT 11 • _.. a-- .• ---1�
- il
to / ?RACT V
TRAC
•. I! r CIS �;
' RAU, TRACT A
ST. ITS
rr TRACJ A TRACY v ""
' TRAC
t . �; �.. �• -g
TRACT A n� ,
.: '• to•• �' TRACT 9 � •
TRACT "D
LV
`. ... . _ . � � .1 •''` .� , as .;,. I �►� �'t 1..
tot SCkOQL SITU. Loi'+
, x.,,,111• `� -,. . 119 1•� ?y :'1 , 1; i iM•{,1 .
Ii.0 T E .. Z , r r; • j:
4bi�S 45E i O►J -L:4 55-s>!5)
.; r L. •Z. 8L-DC K
_
N! PZ.V, N��
-.v'i: �.�.•. ,2�• �, = ~�1.. bi. • "c� "I,!'•. ..,, C.. 'I,E�St.ME,.lT - GA
- ING,
% • fpm,, D�c'� -• n:•. ' N pp� '
Lp •� .. TACT ,. r
3
1'x.0 \. - 00 +_ -.... ?OG
f�
Ire 6
All
CJ
ST
LV
'�Th1S.Alat 1NaS c3pproved. -b': '-fie .�aneCount ''! ' _ -
., .. _ orI[]C, 6ullntnc�.pn�' ?pr)In& De
This pta�'was.aQpt�rve� b thedeunorida:;anninc� Dexr�-menr 7
�•1L5 pl °� w�'oraro'�: d bt:ti'ti�e �C�G �... ._ ... � :cal( h��. � �•
t: `.OJri�C�, =- lorida -Pt, c. Work ie arT
_
IE5�
Tnis p1 . was e 'rue fore(P�InQ, restric- ic>r)S -were and a-
L }�►,'^ �bt,red bU therms c� .�unr Cornmi �.
T n Cierk or
.• *-filed Tor rA•-.� � ,n��^ � ooc�. oF. `��� /�. ✓.! ✓i••^,- ,a `•��1./1.
in rjomK P
�J�l1ee�orri'�i'c Dane Cot�nr rlorida Timis d plat; vrnDiies witn fne ws o loh
• �ae'Coun{�.�aria. - � ;�i.:?fAn :r' ^-' '
,, •' +,. . --• -ti .,. —= - ---- -- - - - - - -- �, fie rK o F
r G �;►' i # • . MEMBER KEYES MILLION DDLAAR SALES CLUB
COMMERCIAL •RESIDENTIAL'ACREAOE•LEASMIO
(a �' RELQ
M C)
cl; v ^
,�W V. GEORGE NEWMAN
I%
Keqes
THE KEYES COMPANY / REALTORS
SunBank International Phone: (305) 371 -3592, ext.
311 n Fax: r(305) 358-6394 • Toll Free 1- 800-74935393 1704
GEORGE NEWMAN
Realtor- Assoclate
Commercial Sales and Leasing Division
Assistant Sales Manager
Residence: (305) 932 -2750
SALES, LEASING, MANAGEMENT, MORTGA(
TITLE SERVICES, CONSULTATION, RELOCA
Commercial Sales Division
Member Keyes Million Dollar Sales Club
Marketing Specialist
Commercial • Residential • Acreage & Leasinc
r'z> P v 0- a b
o� '1�i' JNN-� I` >- �
y
H s T'
1 �
C;l pj-e-��
THE KEYES COMPANY, INC. 371 -3592 05/28/98 EUGENE DROWN
-- DADE COUNTY PROPERTY ----------------------------------------- INTEFEALTY __
Folio 30 -22 -11 -019 -0010 PAddr / /
Co -Use 81 /VACANT LAND PCi.ty MIAMI F�Zip Cd -
Zoning 50 /GEN HOTLS & MOTLS Subdv PERU TOWERS
St -Use /REFERENCE ONLY Lien? Del Tax? Lis Fend? Update 02/25/98
-- OWNER NAME & ADDRESS -------------------------------------------------------
Last OAddr 188/ /SPEEDWELL /AV/
First OCity MORRIS PLAINS /NJ OZip Cd 7950 -
Other X MC MANUS & CO Company ISMAT CORP,
Full
--- LAND INFORMATION ------------ ---•----------------------_.--__. _..__- ..--- .._.- ._.._- ____ -_. -_------------- .
Front Ft Depth Ft Lot Ilk pBk -Pg 99 -66
Lnd SgFt 87120 Lnd Acre 2.00 Waterfront OR Dk -Pg
$ /LandSF $ /AdjSF $ /Tot1SF AV Ratio
-_ BUILDING INFORMATION ------------------------------------------------------
Adj SgFt Tot SF Num Units Year Blt
Bedrooms $athrms Half Baths Num Flrs
- - LEGAL DESCRIPTION --------------------------------------------------------- .-
1 11 52 42 2.00 AC M/L 4 LOT SIZE 87120 SCE FT
2 PERU TOWERS PB 99 -66 5 OR 13362- 1869 -60 0687 5
3 TRACT A 6 ---------------------------------
TAX & ASSESSMENT INFORMATION - -___....__.__.____-....____----____-- __------------- -------_ -..-
ASSESSMENTS 0 997> DISTRICTS EXEMPTIONS AUTHORITY /TAX AMOUNT(1997)
Land 696960 Water N Homestd N Widow N County Tax 16910.05
Impry Road N Veteran N Disabld N City Tax
Total 696960 Sewer N Exempt N Senior N Misc Tax
Prev 696960 Light Y School N Exmpt Gross Tax 16910.05
Mil1Rt.02368000 NonEx 696960 Prev Tax 16779.55
-- TAX PAYMENT INFORMATION ---------------------------------------------------
PAY DATE AMOUNT PAYMENT DESCRIPTION TOTAL PAID BALANCE DUE
01 01/21/98 16571.85 FULL_ RE PAYMENT $ 16 571.85 $ .00
#3
04 TOTAL TAX DELINQUENT
#5 $
#7
--- SALES INFORMATION ----------------------------------------------------------
DEED -DATE RECORDED
PRICE D -TYPE OR Dr. -PGE
SRC S -TYPE & DESCR
Curr 06/01/87
$
13362 -1869
C 5 /QUIT CLAIM DEED
Prev 03/01/87
$
13234 -2948
C 4 /ESTATE &PROBATE
Earl 02/01/81
$
11016 -155
C 5 /QUIT CLAIM DEED
- -. MLS HISTORY - ______ -_
_-__- _..__-
_____..____ ____ _____ _-..
MLS
$
MLS#
BROKER
-- MORTGAGE INFORMATION
-------------------------------------------------------
MORT --DATE AMOUNT
MORTGAGE COMPANY
M -TYPE & DESCR