HomeMy WebLinkAboutReso 2001-363
RESOLUTION NO. 2001-3~3
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, INCORPORATING THE
RECITALS CONTAINED HEREIN, APPROVING THE PURCHASE
OF THE GOLDEN STRAND PARKING LOT UNDER THE TERMS
AND CONDITIONS PROVIDED IN THE CONTRACT OF
PURCHASE AND SALE ATTACHED HERETO AS EXHIBIT "A";
AUTHORIZING THE CITY MANAGER TO EXECUTE SUCH
CONTRACT AND DIRECTING THE CITY ATTORNEY TO
PREPARE ANY FURTHER DOCUMENTATION TO EFFECTUATE
THE TRANSFER OF SUCH EASEMENT; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Mayor and Commission, on June 21, 2001, by Resolution 2001-342,
approved an Option to Purchase, for a City Hall, approximately three acres located at 18050 Collins
Avenue on which the Tony Roma Restaurant is situated ("Roma site"), and
WHEREAS, in the course of examining the title for that site, an easement approximately
sixty (60') feet wide by approximately two hundred and fifty (250') feet long, recorded in 1975 and
belonging to an owner, different from the owners ofthe Roma site, was discovered; and
WHEREAS, a purchase agreement has now been negotiated for the purchase of the easement
from the Golden Strand International, Inc., a dissolved corporation, through the remaining trustees of
the owner, in the amount of$10,000 (approved by Resolution 2001-'3";l;); and
WHEREAS, in addition to the easement, the Golden Strand International Inc., owns a
parking lot located immediately adjacent to, and at the southwest corner of the Roma site, as more
particularly described in the Contract, attached as Exhibit "A" to this Resolution;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES AS FOLLOWS:
Purchase of Golden Strand Parking Lot
-1-
Section 1,
Incorporation of Recitals. The recitals set forth above are hereby incorporated into this
resolution as if same were fully set forth herein,
Section 2.
Approval of Contract. The proposed Contract for Sale and Purchase by and between
Golden Strand International Inc., a dissolved Florida corporation ("Seller") and the City of Sunny
Isles Beach for the purchase ofthat certain property located immediately adjacent to the Roma site
located at 18050 Collins Avenue, currently being utilized as a parking lot, and more particularly
described in the Contract attached hereto as Exhibit" A", be, and the same is, hereby approved by the
City Commission ofthe City of Sunny Isles Beach.
Section 3,
Execution of Agreement. The Manager is hereby directed to executed said contract
and the City Attorney is hereby directed to prepare and approve any further documentation to
effectuate the transfer of such easement to the City of Sunny Isles Beach.
Section 4.
Effective Date. This Resolution shall be effective upon its adoption.
(..... .- .
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APP~OYJ:D.A8 TO FORM
AND L'E~AL' SUFFICIENCY:
01.
David Samson, May r
Purchase of Golden Strand Parking Lot
-2-
Moved by: c.. OMrv\ \ SS; 10"'1[' R C; 00 b W\ ~ AI
Seconded by: C. ovn m \ <<;: 1 0 IJ 8? I..G L- f So I Jt\S
Vote: 5-0
Mayor Samson
Vice Mayor Kauffman
Commissioner Edelcup
Commissioner Goodman
Commissioner Iglesias
..J.L. (Yes)
V (Yes)
V(Yes)
V (Yes)
~(Y es)
_(No)
_(No)
_(No)
_(No)
_(No)
Purchase of Golden Strand Parking Lot
-3-
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CONT~CT FOR SALE AND PURCHASE FLORlDAASSOClATIONOFREA.LTORS~ANDTHEFLORlDABAR
J'ARTlES: Golden Strand Internatb:mai. Inc." a dissolved Florida co~. ("Scller"), I
of~6 Magnol~~ Point B1v~~" Green Cove Sprin~s. PL (~oM)904-284-4~~~__.
and .city Q.f SunnY. IlIl.... Beal!h ("BIIIer")
of 11010 (!nl1i'Q.!L Ava.. Sunny.: Isles Beaeh. i'L (Pboj'l,,)305-~47-0~Q5 '.
hercby agree Ihat Scllcr Ihall sell and Buyer shall buy Ihe following doscribed l'Ilal proVerty alld pel'S<lnal ptopeny (collectively "PtOperty") pursulInt 10 Ihe Ull1llS and conditions of tllis Contracl
for Salc and Purchase and lIny riders and addcnda ("Contracl"):
1. D~SCRll.Jl'ION:
(a) LegBl dCieription orlhll .!I.eal property Iocalcd inJ1am1-0ade County, Florida:
( BE LEGAL DE~CRIPTION ATTACHED)
Vttt"Q"t_Land - T~,ol.!o 4".0..:.2.2.11.=..022:.0010
(b) Slreet addr"u. eil)l. zip, or II... PTOP"l'>' it'
(c) Personal ProllCt\)l:
~A
See Addendum
5,000.00
JI. PURCHASE PRrCE . . . . . . . , . , , , , , . . , . . . . . . , . . . . . . . , . . , , , . , . . , , , . . . . . . . . . . . , . . . . . .. . . . . . . . . . , , , . . . . . . . .S
l"AYMENT:
e.) Depo,il l\..1I1 in 118llrow \ly Harold M. Ri fas" P. A.. (Escro'IV Agent) In the amount oU
(b) Addirional e,erow depolit 10 Is.. "'Ad.. r.o Storow Agcnl ""illlin _ dKYI .11.., Bf~criv. DotG (."" Po....g~.pb Ill) 10 the am"..nt Dr s
(c) Subjcc:t to ANb a5sumption or l!lI.islinll mOrlg;lga in good 5tandlrlllln favor of
having an approximalc prc6elll principal balallce or . . . . . . . , . . . . . , , . . . , . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . , . . .S
(d) New manses/! fin."eins ""ith .1..enclcr (Ice P.ro.eropb IV) ip Ib... 81llt'unt ef, . , , . , . . . , . . . . . , . , . . . . . , . . . . , , , . . , . , . . . . . . . . . , . . S
(c) ~ureh.'G money mortg.ge; ond nOle; to Sollor (Gco dd"r for terM>) in thG amO\lnl of. . , . ., .... ' . . . . . , . . , , . . , , . , . . . . . . . . , . . . . S
(f) Olhcr: L-.
(s) alllnee to olo.e by U,S. Cllh Of LOCALLY DRAWN Go.hies'. or offioi'} bonk "bcck(a), Gubjc:ct tv adjuolmGnta Dr pl'OutiollS . .. . . . , . . . . , . $ see AddenpU-m
III. TIME FOR ACCEPT ANCEOI1 OJlTJUt; in-tCTIVI: DA TJ:; J14.c..~LJl Inhi, oll'er illlOl ex.....lO<l by and d..livlr..d 10 all "arlic. Oil fACToI'" BXBCtJ'TION OOm",un."atcd .n writins
between the parties an or befofC S ~ ~ .mhf' r :l1 t h _ '2 0 0 , .\hc deposit(s) will.lt~u)'e"'s opeion. be returned anclthis orrer wh/ldraWll. For purposclofddivClyor nOllO~ OJ
excculion, parlies include Buyer and Seller oe eaeh of the respeclive brokers or allomeys. The dale or Conlnel ("ECCeclive Date") will be the dale wben !.he 186t one of tho Buyer and Seller
has ,igncd lhit olTcr. A faCiimile eopy of lIJis COOl/8Cl aod any signaturcs hereon shall be cOllSidered for all purposcs as ao original.
IV. FINANCING:
!Xl ("J Tbj~ i~" cosh ItQn3oo.ioo with 00 ..onli"!l.nci~ lot lin.n"inl!;
( ] (b) This Contract is condilioned on Buyer olllalnlng a wrltren loap commltmenl wllhin _ daYI Incr Effective Dale lor (CHECK ONE ONt Y); ( }a fIXed; ( ] an adjuSlable; or I ],
lixed Dr alljU$llIble rale loan iP LlJe principal amOUnl of S , at an Irlltial lruercst talc not to exceed %,
<li~\l\\~ ond OliaiMlioll r~3 nol. W oxo.ed % or ptin"i pal o""",nt, and for atum of _ )'C'If&. Buyer will make applicarion Wilhill_ cl~ys V days irlcn blank)
allor BfCocliv. o..t. .nd un re""nabl~ dilis~n"~ to obt.in a loon <'ClInmhme".ond, .bOf..fter, to .alit.l)' tcrma ."d conditioM oflho conImilmo,,1 and olo~ It-o lolln. Buyer .ball po)' alllQan
expcnscs. Jf 13uycr fail, to obtoin a eOlllmill'llenl or rail, 14 waive Buyet', righls under thlo svbpansr;oph "".m.n tile ti",.. for 0\)lIi1\.ip8 .. commill'llotlt or, oEl"r dills..nt ..N'o", r.ils 19 tll~ct
IhelllfmS and conditions oflbe COlMlilment by the closing da te, then either party thueaner, by wrillen notice to tbe olher, may cancel this Contracland Buyer sbon be eefunded the deposit(s); 01
( ] te) -rho exi~tins morls"Se, de6eTibc:d in P""'.erAl'b n(o) A\)ova, }IA,: [ ]" varia'ot~ inlt...sl ratej or ( ] Il ti,,~d int..r.SI rala of ~ pOI' nnnulIl, Al 11m" or tillo llon.for,
somc tiKed Inlere&l "le5 1/.l'C 5u.bjccllO illcrC85C; ir tncle.,ccl. lbe rate ,1I.Ullol excecd OJ. per annum, SeUer aboll furnisb l' 8lat~mt'nl uOm OIIe:h morlll"SCO 511ri1l8 LlJo
peincipal balance, mClhoo of paymenl, inlCrest rate and status of mortgage or aulhorizc Buyer or Closing Agent 10 oblain the same. If Buyer hIS al!recd 10 assume a morti'ell wbieb rCQuircs
approval ofOuyer by the mOrTgagee for assumption, Lhcn Buycr shall promptly obtain the nccClisary applicalion and dililll!fllly curoplelc and return It 10 the morrg~see. Any nlOJ1gage clmllc(s;
not to exceed S (I % olamount assumed iflcftblank), sl1all be paid by Buyer, (fBuyer is not accepted by mortgagce oe tbe fcqui~IllCnlS for assumption
are nOI in accordance wilh dIe tCfll11 of Ibis COPlJ'aCI Of mOrTgagee mikes a cbarge in excess of !he stated amount, Seller or Buyer may tescind Ibis ConuaCl by wrillen notice to the
omer pany unless clLllcr elCCIS t.Q pay lIIe increase in intcrcst rale 0' e~cess mOI'lIl~Bt chargca,
V. TITLE EVIOENCE: At ICBSI ~ days before eloslng dale, (CHECK ONLY ONE): IXl Seller shall, al Seller's expense, deliver to Buyer or Buyer'a alLorney; or { J Buyer shaUll Duyer'!
expcnse Oblftin (CHECK ONLY ONE): [ ] ab~\ract of ritle; or [XI lille insurance COmmillnenl (Wilb legible copiC! oC insltumcnLs listed as clteeptiona lu.cllcd thorelo) IlId. aRcr closing, an
owncrs policy of dtle Insurance.
VI. CLOSING DATE: Thil trannetion shall be closed aDd thc cloGing documcnls dclivered on ( S fa. a~_ndum) , unlC$B mcdi(icd by olher provisions
Dr this CantrocL
VII. lilESTIUCTlONS; :&....SEMENTSi J..tMtT4TIONS: Suyer oholll~ .itla GubjoolllO: c:omprclllo1l13i\'g lond UG" pl.ns, zonins, I'Rtrie:I,a"" ptcll:i.birian~ ol1d 01!>C( 1C'l\liremcnls impa$ed by
governmental authority; rc~ltiction~ and matlers appeatinS on \he pIal ot otheN/ise comma. la Ihe l\lbd,v';IOll; O\lI'LAlldil\S oil, &"4 lInd minefal righls of r~eord Wilhoul riSht of enU)/; public
ulility c8semcnll oC record (casements ate to be located contiJZUous to real property lines and not more thap 10 wel in width 85 10 the rear or frollllines Slid 1 1/2 fect in widlh II 10 Ihe .ide
lines, lllllen otherw15e .taled bereln); laxes for ycar of closing Ind subsequent years; assumed mortgagcs and purchllle money mongagC8. if any (if Iddilionol Hems, see addcndunl):
provided, lhal there exists at closing no violation of Ihc foregoing and none prevent usc of the Property fat mun i c i pa 1 use _ purposc(s).
vutoCCUPA.NCVl Seller W:lrratlll Illat th~ are ao psrtie. in occ\lpaa"y 011>.., \baa Seller~>>~~li~H~Kl)UfHI'iM~_~~X'Jf~r
~bc~NIKtJll)IDOtcllOM!JtJt!!KIjz9Gtil~Dl!~Dt:lCJJaMJX:i Seller sball deliver occupancy of ProllCJ'l)' to Buyer 81 time of c10sini unleu otberwise statcd herein If OCC\lpancy
it to be delinred before closing, Buyer assumes all risks of loss 10 Properly from dale or occupant:y, shall be fCsponsible and liable for maintenance from lbal IInle. alld shftlJ be deemcd
CD have acccpled Property in ill cxlsling condition IS of lime of taking occupanCy unleu othClWlSC slated herein.
IX. TYPEWRITTEN OR H,lNDWRlTIEN PROVISIONS: Typewrillen or Iundwriltcn p10visions, riders and addcndashall control all prinred proviaions oflhis Conlracl in conOicl Iltith them,
X, RIDERS: (CHECK lhose riders which are applicable AND are allaclled to mis Conlr8el)~
( ) COMPRBIiENSIVB RID~R ( J HOMEOWNERS' ASSN, [ J COASTAL CONSTRUCTION CO'N'l'ROJ. UNB
I ) CONDOMINIUM' [ ]"1\5 IS" ( ] INSULA nON
{ ]VA/PHA [ )UAD-BASEDPAINT [XI Addendum
Xl. ASSIGNABILITY: (CHECK ONt Y ONE); Buyer [ ] may anign and thereby be n:leased from any further liabilily under this Contract; [ ] may assign but nOI be released from liDbililY
under Ihis Conlracl; or (Xl may nol assign !hit Contract.
xn, DISCLOSURES:
(a) Radon is 11lItllCally occurring ~di~active gas llIal wtlcn.acc~m1:'-la~ in a ~uilding ~n. 6uffi~iePll\Ua.ntitiee roB~ j)tesent health risks la,persons IIIno a1~ ellposed to it over timc. Levcla of radon
that exceed foderallnd state guldehnes have bccn Cound 1A bUlld1l12~ 111 Florid,. AddltlonallnCormatlon n:gardlDg Radon or !ladon lCttmg may be obtamed hom your CO\ll\ty Public Hcallh unit
(Il) Duycr aCknowledgcs receipt o(l/le florlda Building anersy-afllcleney Itlung :system Brocl\ure.
(,,) JClh. roal proJ.'~r1)1 includes PNl-',!l78 r<uid~l'ltilll boudos Ihell.lald-boSAd pli"l !idl\C is roandA1ofY.
(d) lfSellCf is a "fotcign pen;on" as delined by \he Fo~ign Investment in!lnl Property Tu Act, Ibe parties thall comply with thaI ACI.
(e) If Buyer will be obligaled 10 be a member of a homcowncrs' association, BU'r'ER SHOULO NOT EXECOTE THIS CONTRACT UNTIL BUYeR HAS RBCBIV8D l\ND 1l.EAD THE
HOMEOWNERS' ASSOCI'" lION DlSCJ..OSUM.
XUI. MAXIMUM REPAIR COSTSl Sellet shall nol be rcsponsible fOf payments ill ellCCSs ot.
(a) S NLA for Uealmcnt and repair under Standard 0 (if blank, then 2% oflhe Purchlllc Price).
(b) S ~A for repair and replaccment under Standanl N (ifbllmk, tben 3% oflhc Purchase Price).
XtY. SrECIAL CLAUSES; ADDENDA: If ~dditionallCrm$ .,., 10 be; provided, ~'lOCl1 ~ddctldurn .nd CHeCK HERE [ ].
XV. STANDARDS FOR RgAL ESTAn: TR.4NMCTlONS: Slandlf~ A through Won thc revcriC 5ide or Illacbed are illcocporalCd as I pan of this Conll'ael.
THIS IS INTENDED TO DE A LEGALLY BINDING CONTRACT. IF Not ruttY UNDEIlS'l'OOD. SEEl( THE ADVICE OF AN ATTOIUllEY PRIOR TO SlGNINC.
THIS FORM HAS BEEN APPROVED BY 'THE FLORIDA ASSOCIA TJON OF REALTORS AN)) THE nORlDA BAR.
Approval .lacs not con.::lilule: a" opi,,;olt ,h", ""y ,,( ,,,<: /""'mot .....I ':O"Idit/Qn~ i" /M. Ca../,.aCl otllQltlJ bo fl/CCoplorl by 'h.. (XIrliG.t i" II p<zrrir;al..r ,....".....,;011, TCI'IN8 .."rJ cOllrJi/iOI1S ,liauld
be Ilt~rlDltId bDSed U~II Ihe J'e4pecllve 1,./.I'el/4, QbjeedllfJ alld bargol,.ill8 pt1SillollJ of 01/ III/ereSled perSOrlJ,
COPYRIGHT 1998 BY THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORS
ML12.~
(Buycr) City of Sunny Isles Beach (Date)
Social Security or TBlll.D. "
(Sellcr) Golden Strand Internationar;- (D~-
Social Security or Tall 1.0. 1/ I nc .
COale)
(Buyer) (Date) (Sellee)
Social Seeurily or Till 1,0.11 Social Secutily ar1'lltlD.1I
D..po~jt\llldo' Paragraph It <a) r<<clved: IF OTHER THAN CASH, THeN SUBJECT TO CLEARANCE. ..Har.old M _ IU.U-, P _ A_
BROKER.'S FEE; The brokua nllmed belaw, illc1udiPS USlin. ~nd cooperating brokera, are IIIC only lIrol(en enlillcClto compenntion in conllectlon willi lIJls COfttrllct:
Name:
(56ctQw Agem)
Coopeullll' Broker., llaa1
FAIUB^Jl.-' Jl,e..i3"" 8/98
Listing BrOKer
0cr-U-UI vv'cV 0, I:J lI.lVI nll.l\VLV IVI l\lrll.0 fll.
STJ.NDARDS FOR REAL ESTATE TRANSACTIONS
A" EVIDEN~E, OF TITLE: (I) An Ibs!(aCL of title prepared or brought CUtrellt by a repulllble and existing abstract firm (ihot exisling \hen certiticd IS COtfC(t by an elti,tinl1 firm) Ilullloning
to k.., al\ aoeurala Iynop.;. of Ihe inGtrum<>Ol3 arrelllins litle 10 Ihe r~al property recorded in Ille pUblic rCCQrd.$ of tile counly whercin tbe real property is located through EfTeclivll Dale, It
shall commence wi Ih the esdh:st public records, or such later date.s may be customary in the CQUflty. Upon dOSIng of this Conttact, \hc Ibstract shall becoll1e tbo property of Buycr, subjccI
to lhe righl of retenlion thercof by first mortgagee unril fUlly paId, (2) A title insurance commitment issued by 8 Florida licensed tille in5llrcl' agreeillg 10 iuuc Buyer. upon rceorllinll of Ibe
doad 10 JlUYfF, a~ ownor'. poll~ of .;110 iD3urance in d,,, a.mOUn! of tile purcbase price, insuring Buyer's tille to the real property, subjcct Ol\ly to licna, encumbrances, ucclltions or
qualifications provided ill Ibis Contracl and Ibose to be di.cbarl!ed by Seller al or before clolins. Seller .h.U c:onvt)' mark~lable lid. aubjeGI onl)' 10 lictl&, ~nc:utnbrancCl. exccptlons Ot
qualillcalions provided in this Conlfacl. Markclable titlll shllll ~ detcrmilled according to apllUCAble Title Standards adopted by autllorilY of The Florida Bar and in accordance with law.
Buy.r shall have 5 dl)'a f/'Om dale; of rocoivin; "...idene" of litl" to cumine it. IC title is !bund defCctlve, Buyer Shall within saiil , days noliey Seller in writing .pcci{ying thc dllttcl(s). 11
de(ecl(s) render tille ul\Inarketable, Scllcr will bave 30 daY' (rom receipt of notice 10 remove lhe defectl, eanillS w.hicb Buyer shill, within five (5) doy. ancr expiration oftho Ihirly (30) d~)
period, deliver wrillcn notice to Seller either: (1) extctlding tbe lime for a reasonable period 001 to exceed 120 daya wilhin which Seller .ball use dili&cnt effort to remove \he dcfeelS: or (2)
"<l."''8lins .. 1.,!und of dopo~i\(s) poid ...hj"h .ha\ll:l" immediately relumel3 10 J:luycr, II Buyer rallS 10 so notifY SCller, Buyer shall be decmed to haYe accepted llIe tille as itlhen is. Seller
811all, iftltlc is found unmarketable. use diliaenl effon tQ COlTect defect(&) ",hhln the timo ptovided th....Afor. IrSeller ic unable.o timely c;orrOQt Jb.c dof~ta, Buy... ,ban..ilher wllve \he Qeretts,
or receive a refund of dcposlt(." thereby releasing 8uyer and Seller from III further obliaatiOll under \hia ConLract. If cvidenee of tillll is de\iveted to Buyer leu IhRn 5 days prior 10 c1osins.
Buyer may extend "lo~'n8 dat.. 'Dlhet Bu)"'t ,hall havc up to :; days /rom Clall! oC receipt ot evIdence oC title to eUl\une same in accordlnce with this Standard.
B. PURCHAS'E MONEY MORTGAGE; SECUlUTY AGREEMENT TO SELLER: A purehaS8 mone}' mortgage and mortgagc nole 10 Seller shall provide (or a 30.day gfRCC period in \he
eve~t of defaull if a first mongageand a 13-day grace period if a second or lesser OlOtlgalle; shall provid8 for right of prepaYOll!\It in whole or in pan wilhout pcnalLy: shall J)<ltmit 8ceele.ralion ill
ovon.1 of IranG'o, or .tbe ,rcol p.'~p"ny;, .h.1l r~q1lirc a!lprlor llena and encumbrances to 6e J(~pt In ~ood Ifal\dins Inll forbid modilicaliona of or ~ture advancea under prior mOrlllage(I); ablll
requIre Buycr to malnllln poliCies of In&uranee CQlllalnlna . staodard mortgagee c\aus.. c:ovel'Ul8 alllmprovemet\11 localed on th" real propc>r\)' OGIIl".t fire .nd a\l peril. mcludCCl within the lerm
"extended eOYl:rage endorsemcuts" and such olher risles and perils II Sellcr may reasonable require, in an amount equal to !.bcir highClI insurablo value; and thc morl.l!~l!c. note I"d Jccurity
ogf<'CmC"1 ahall be alherwile in Corm ond cOntent rCltuired by Seller: bul Seller ltIIy otIly fC<l,Uire clauses and coverage cUllomarily found ill mongllges, mOrlgagc nolea and Iccurit}' allreemellli
gcn.erallY u~i1i~ed by .~vinl!s and 10lln inSliMions ,or .tale or lIa~lon.a1 banlco loc~rcd in lb. eount)' ...herain ,the real 1'l'OPOl'lli i. locolQd. ^J1 penDnl' Jlrope;rtland leMe. !l<:il'!8 conv~d 01
aSSigned Will, at 5cll~r ~ Oil lion, be subjeet to Ihe bCIl of 11 scr.un(y allreement t"ldcllced by reeorijed flnancmg IlaremllClt!l. f a balloon monglsa, the final Daymcnt will e~ccc:d the periodic
po)',netlls lherc:Dn,
C. SURVEY:Buyer, at Buyet'& elll)ense, wilhin time allolllCd to deliver evidence of lillA .nd to e>(.min~ ....0., may hav" tho ~l proPQfty 3Urvcyr:d .nd e;craitled by a reglstercd Florida
,ulVeyor. It Il)e aUI'Vey discloscs encroachments on tbe real propeJ1y or llIat improvemenf' located !.bereon encroaeb on selback lincs. easementS, lands of omcr. or violMe Iny re'trietion~,
Conl.roel co,"n.n\1 or applicable gov;rnmcntal regulatiOn, Il'le samf: shall conllitute a lltlc defec!.
D, TERMITES/WOOD DESTROYING ORGANISMS: l3uyer. al BU}'!:r'. expense. wilhin the lime aUowed tQ deliver cvidcnce of litle, may have !.be Property inspected by a Flolida
Cen\fied Pest Conlrol Operator ("Opera lor") to determinc if l.hece is any visible active termile inCf:slation or visible damage from termite Infeslation. excluding fCtl.CC8. If either or both :are
found, 13uycr sh,J1 have 4 daYI O'om date of written Dotice thercof wJlllln whiCh 10 have CQst of treatmenl, if rcquired, estimated by the Oporalor and III damage ill.pceled and C&limalcd by a
liccJ1&ed builder or lIetleral COtltraclor. Seller ,hili pay ...Iid c:o.to oftrClllttlC:lll ~nd repair of an damasa up to th" amount l?ro~'idQd in Para.r'\lb XIn(a). IflClitimalc(J coatS exceed \hat amount
Buyer shall have lhe option of canceling thil Contract within S daY' after receipl of conlrietor's repair estimate by givmg Millen notice 10 Seller or Buyer m,y ~Icctto proceed willa lh~
I"nsaclion, and lCCelve a credit It clOSing on the amount prOVided In Paragraph XITJ(a). "Termites" sliall be deemed to Include all wood desLroying organillflS required 10 be rcpoltedunder the
florida pe.L Control Act, as amended.
E,INGRESS AND EGRESS: Seller warrants alld f(!prcsents that there ia ingress arid egress to the real property sufficienl for its intended use as described in ParalZrapb vtI hereof, litl.
to wbic:h is in accordance wIllI Slonl1ard /I..
F. LEASr.S: Seller sh~IJ, 1I0l leu Iha.n IS cllysbefore do.ine, Eumi.h to s.uYl'r e('pits of all WTiuaD 1<:a.QI and ">toppe' 10tloC$ frOm "."b l"nDl\t Ipc"ifYing lhe narureal\Cl duratiOn oC Ihe tenant"
occupancy, renlol rales, advanccd rcnt alld lecurity depQsilS paid by tenan\. If Scller is un~ble to obtain lueh letter from each lcnant, the same infonnation shall bll l\lmished by Seller 10 B\iycr
wilhin Ih~t lime pec,oc1 in rile rorm or a Seller's affidavlt, and Buyer may tbercaftcr eontactlen:lnt to confarm .ueh ioCormlltion. Sellet shall, It closing. delivcr and assign all ori&inall~D$cs 10
Buyer.
C, LIENS: Sellcr sllall fIlmish to Buyer at time of closing an affidavit attcsling to \he abscnce, unless othcrwise Ilcovided for bereinl of 8Cl.y llnancinJl stMement. claims of licn or potel\lial
Iienors known to Sellcr. and 1Un~er altes~ing thallllcre bave ~ceo no Impro\'Cm~ts or repairs tQ '!Ic re.al propcrty for 90 days immediately preccdillg date at clo&inS, If Ihe real property hILS
been Improved or repaired ....llhJr\ tblt lime, Seller .hall d..J.vcr r"lA"~<<' or WI Ivers or .0nslt\O.lIon llent ,,,ceutod by .\1 $ooot'Ol eontrt.Gtor., ....\)cQolrlleloll, luppllcrs Ino malerialmen in
addilioll 10 Seller's lien affidaVit sCllillg fonh tbll names oC all .uch general eontracters, lubconlractors, lIl11plicrs and materiall\len. further Imrnlil\Jl thaI ,II ch~rlCi 1'0. improvements or
rcpairs wlllcn eou\4 seI'Ve as a basis for a conslructlon J(el\ or a c:lalm Cor damBges have been paid or will be paid It the closing of Ibis Conll'act.
H. PLACE OF CLOSING: Closing shall b. held In the COUllI)' wb,rcin tho real prop<'ny isl_tsd al tb" office of tile; allClmc:y or othcr cloains .sonl ("Cloimg Agenl") dcsignarcd by Scller,
I. TIME: In compuling timc petiods of less than six (6) days, Saturdays, Sundays and state or national legal holiday. atlall be excluded. Any tlane pcriods provided (or hcrcin which .1.011
enCl on a Saturday, SundRY, or alcsallloll<lay shall exlcnd to 5:00 p.m. orlbe next business dil)'. Time Is oCtlie eastllee ia Ibll Contract,
J. CI.OSING DOCUMiNl'S: Scllcr ,hAil (urlli.h. Ih~ d~ed, bill of ..t~, ool\$l\'UctioD lien arfidl"ir, owner'. poG~o~~ion oflid."il, .nignm"naa of h:nCll, lenanl and mongasce eStOppellcuera
and COlTeetiye inslrumenlS. Bllyer sholl fumi&h elo&illg statcment, mortgage, mortgage note, security agrcemenl and financing statements.
K. !:Xr!;N!~: Documentary allmps on the deed and tecording of eQl'\'eelille 11lstrument! shall be paid by Seller. Documentary Btamps and inlangible tax 0(1 the purchase moncy morlgagll
and any mortgage assumed, morrgagce Ii lie illSUranct commitment with relaled f"s, and recording of purchase moncy mortgage to Seiter, deed and finDncing .lar~nlent& ,ltall be paid by
Buyer. Unless othCtWise providcd by law or ridcr \0 t~is. Contra~l, ch~rges for Ihe followin8 related title services, namely title or ebslnct ellBflle. tille exaroilllltion, and seltlcn,,:nl and
closing fCc, shaUllc paid by Ihe p~rl)l responSible for furnlshmg the tIlle eVidence lD accordance wuh Paragraph V.
L. PIlOU 1'IONS: C~KD1TS: Tuc:c, "sc.un'OJ\I" ~l", inl~t.5I, i""uran~e and olhar e"PQtlse. of .he Propony Ghall be prorolGd throush Lb" dl)' bc;Co", r.loling, Buyer anall have Ihe oplion
of I.lcins ovcr uisting policies of insurance, if assumable, in whicll event premiums Ihall be proratcd, Cash at closilli .baU be increased or dce{ClScd as lIIIl/ be rCQUlred by \lrorotions to
bc made OIroug1loay prior to clOSIng, or occupancy, if occupancy occurs before dOling. Advance renL and scc:urily depoiits will be credited tQ Buyer. ~erow dcposits held by morrga'tO
will be ercdiLed to Seller, Talles sllall be pronted based on lIIe current yeats lall wilh due allowance made for ma~imum .llowable discQunl, bomeslcad and othel exemptions. If clolmg
occurs ar a dole whcll tile cUrrelll yeM's millage is nol tixed and C\Il'1ent yeats assessment is available, Iu.es will be prorated based upon such assess.mClll and prior yellr'a millo(ll!, IE
eurrent year'a IIiscmnCl\1 is Dot available, thcn taxes will be prorated on \loor yeu's laX. If there are completed improvements OIllbe real properly by 1anuelY 1st at year of c1osi/'l8, which
improvomenls were nOI in ellielel')ee 01\ 1anuary IsI or prior year, lhon l,,~e;. .h"U bo proratc:d baaed UpDIl prior Y""r', mill.ge and al aD equitable Issessmcnl tQ be Igrc:cd u~on oetween
lhe parties: tililinll which, requcst lhall be made to llIe County Property APllrai.er for In informal assessment !akin. into account aVlilsble exemptions, It. tIlt proralion bued On .n ""limal<<
sball,al rcquesl Ot eilher pMty. be readjusted upon receipt ofru bill On condition tbat a statement to that effect is signed at closing.
M. SPECIAL ASSESSMENT LIENS: Cer.ific<l, contirmed Ind ntined special assessment liens as of date of closing (noL as of Effective Olte) are to be paid by Seller. Pending Iicns as of
dale of closing Ihall be ISsumcd by Bllycr. If the improvemenl has bcen substantially completed IS of Effeclive Date. any pelldj~ lien sll.1I be eonsidctl:d ce(tificd, conlirmed or ra\ilic:d
and Scller shall, at dosing, be charged an Imount equal to 11IelaSl qtimate or assessment for the improvemenl by the public body.
N.lNSI'EC1'lON. RJ::I'A1R. AND MAINTENANCE; S"lIor WOIT""lG rhat 010 <>cilinS, roof(ineludinr; the r...ci. and 'offi~) ,nd "xlcrior lInd Imerlor wailS, fQIJ0tl8lion, seaw.ll. (or equlnlCl\l)
and doclcage do nol have any Visible Evidence of lealcsL water damage or strUctural damage Ind tIIal the septic tank. Dool. al1a,llplianees, mecbanical ilem~. h~ati"ll, eoolin8. elceuic.l. plumbins
sy&tems and nJsellinery are in Workill~ Condilion, Tile toregoing warranty shall be limited 10 the items specified unless otherwise provided in an addl,mdurn. Buyer mlY, II Buycr'a expense, have
in.poetion. mad" of Iho.e iI"lm wiuun 20 do)'o aftor Lho BffC<ltivo 0"10, by 0 1111'l\ Or indi"id".l .peciati7.il\1 in bome ,"spec:tions and holding an occupational liceNe for IUCh purpose (It
reQuir~d) or by an a[lproprialely licensed Florida conlraClor. and Buyer sball, Drior to Buyer's OCCupancy but not nlore than 20 dalls aner :Effective Dale, repen in wrilins to Scncr .uc:h il~''''' Ihat
do nOI meCl lhe above Slllndards as to defcclS, Unless Buyer timely reports such defe<:ts, Buyer shall be deemed to have waived Sel!c(s walTantiCi IS 10 defectS oot repo~ed. Ie repairs or
roplaeement~ ato requirod 10 com~ly with thio Standord, Sollor shoU "Quse Ihen. t" b" madc and ahall pay up 1IO lIIo amoum provided in paragraplI )(1II(1l), Scller is not rcqulrec110 lIlalee rllpaln or
replacem~nls of a Cosmetic Condition unless caused by a defect Seller is resPollsible to repair or reDlaee. tf tile COSl for such r.:pair or replacement exceeds the amount provid~ .n PAraeraph
XJll(b). Buyer or Seller may elect LO pay such excess, failing which eirher pany may cancel this Contracl. If Seller i. unable to eOl'fl!et \he clcfetls prior 10 closing, tllo eosllhorcohhall be paid
into cscrow at closing. Seller &hllll, upon reasooable nOlica, proYide utilitica selViee and access to the Property for inspectionl, including a walk.lJ\rough prior 10 closing, 10 confirm IlIat all
items of\lcrSonalllropcrtr. are on mc rcal propct1y and, subjecl to \he fotepoina. Ihat all required rcpain Ind replacemenlS bave been m,de lUId that the Proper\.Y, includins, but not linlitcd 10,
lawn. shrubbery and poo , if any, has been mainllined in the eondilion elusting as of Effcc:tiv~ Date, ordinary wear and rear e)(eeptcd, For purposes of this Contract (a' "Working Condition.'
",<<ns op~ratio8 in \1\0. mOot'ncr in wbich \bo item ...... d".il!n"d to OP""'I"; (b) "Cosmetj" Coadition- melns lelthelle ImperJ\:eliolll tllal 00 1I0t affcet lhe working condillon or Ihe Hem,
including, bUl not limiLed 10: piLled mGreile: rnissinlt or tOm screens; fO.l!l!ed windowl: lcara. worn apols. or diseolof*riotl of floor coverinlla. llIallpaptr, or Willdolll t\'Qollllcnts; Mil ho)e..
5crall:he.. denla, &Crapea, chIp' or caulk.ins in eeilinss. walls, nooring. fixtures, Or mirror.; and minor craeka ill Ooors, tiles, windows, driYtway&, sidcwalks, or pool dccka; and (c) cracked
roof liIcs, curling or worn Ihinglel, or limited roof life ,hall not be cOl\sidered defeeLS Sellcr must rep~ir or replace, 10 long as there is no evidence af aclllal kilos or leakage Of structural
dama~, but missinl! tiles will be Seller's responsibility to replacc or repair,
0, RIS.K Of' LOSS: If tbe Propetly is d,m,gcd by fire or olher casualty before closing and CQat of restoration docs not txeced 3% of me II$sessed valuation of Iho Propel1y sa damaged,
OD.l of ",.Iorati"n .h.1I b~ IIn o&li&lItion of .sellor .nd elOlllng ob.1l proc:"ll pu.suant to lh~ lerms ot mil Conrrael wlrll restoralion costS escrowcd al closing, If the COSl of restoration ueccd.
3% of the assessed valuation of \he ProD~ so damall:cd. Buyer s~a~lllave tbe ootion of ,:ilhcr takioll tbe ~roll~rl,y as is, tOllethor with ei\bcr the )0/. at Iny insurane", proce.ds payable
by virtue of such loss or damage, or of cancehng thiS Contrael and receiving return of the deposlt(a).
P. PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be re(;ordcd upon clearance of funds. If an abstrael of litle bas been furnished. evidence of tjlle sball ~ conlinued al
Buyet's ea;pllnS8 tQ sbow litle in Buyer. wilhoul allY encumbrances or chanee which would render Seller's title U1\fIlarketable from \be date of Ihc loll evidenc:e, All cto.ins p..,.,.,.,d. shAU
be held in ClCrow by Scllcr'l ellorney or olher mutually acceptable c5erow agent fur I period Qf not more than S da)'$ aller closing dll1e, If Sellcr'a lille i~ woderell unm~rkcl~blc, tIIrougb
no l'iaulr of Buy~r, Buycr Ihall, wilhin me '-da)' period, notify Seller In wrlllng of me del'ccr and Seller sllallllave 30 days nOm Clate of receIpt of such nolificatlon to Clure llIe deltct. Ir Seller
fail, 10 dml!ly cllce lbe defect. all de1)Osit(.) Ind closilUl funds shall. upon wrilten clelNncl bll Buyer and ",i\hin 5 day. alter demand. be Nturned 10 Buyer Ind, .imull.neously with .ueb
repaymcnt, Buyer shall rcturn Ihe personal propeny, vacate the real propertY and reconvey \he Property to Seller by special walTanty deed and bill of eale. If Burer fails to nlake lirndy
demand for refund, Bu~cr shll\1take title as IS, ~alving a\1 rights against ~ell~r IS to anY,intCl\'cning defecleJtccpt 8.'l may bllavail8l?Ie to B,uyer by virtue ofw~rnnlJcs COlllllined in lho dced
or bill of sale. If a portiOn of the purebasa price IS 10 be derIved from InstlluUOllal fjnancJne or re.lina.oell\.fl. requ,remenl. of the lencllne; Jnstltullon IS to pl:lCe. tIme of dll)l and proc:o:durt" for
closing. and for disbursemenl of mortgage proceeds shall eOl\trol over contrary provision in thia Contr~cl Seller shall have the right to require crorn tile lendinll inslilulion 8 wrinen
commilmenl llIal II will nor willlllOlc1 c1[sburacmcl\t of mOrtS.Se procecds as a resUlr of any title deCecl anrilllllablll 10 Du~er.mortgllgor. ihe escrow and closing prOCCd~re required by llliS
Standard .hll be wlived it lbe titlc IlIent Iqsut't!s advef!e mallen pur.uanlto Seelioll 627,7841, F.S.. IS amended.
Q, ESCROW: Any escrow agent ( Agcnt") receiving funds or equivalent is authorized and agreca by aeceplance of thcrn 10 deposit t\lel1l pnlmptly, hold same in CScrOw and, lubjeet 10
clelll1lnce disburse them in accordance with terms and conditions of this Conlract, Failure of funds to clear &ball nol excuse Buyer'a performance. If in doubllS 10 Agcpt's dUlies or liabilities
under t1\~ provisiol\s oC Ihi. Conlract, Aacnt may. at ABell~' option. col\tinue to hold lbe .ubject melter of Ihe escrow unlil 'M par'l;ell hendo .er.... to ilo o;$bunc:rncnl or ulllil . judll.n,cnl
of a court of compelenl jurisdiction shall determine mc rights of !he parties, or Agent may dcposilsame with the clerk of the circuit cou~ having jurisdiclion of Ibe diipule. Upon nOlirying all
partiel concerned Qf auch aCtion. allli~bilitY on lhe p\l~ of "geM shali rully terminale, excepllO the e:'llenl of accountang for any items preVIOUSly dclJverell OUI or escrow, If a liccrn;cd real
e.tale brokcr. AllCll1 will comply with prov,.iona of ChlPler a75, F,S" IS smended, Any .uit between Buyer alld Soller wherein All"nl Is made a po"y bc:c<<u,.. of ..ling .. Allcfl. hOtololnd"r,
or in any Iuil wherein Agent intClJlle~ds thc subject mailer or the escrow, Agent .hall recover reB&onable altorney'a fees and cost, i/lCUNcd wilh these amounts to be paid from .nd 011I oC
the escrowcd IUnds or equivalent and charg~d and ,warded as court cosls in favor 01 tho prevailing party. The Agent Ihall not be liable to any party or pcrsou for misdelivery to Buyer (II
Seller of ilc:ms subjeCI to lha UerOlll, unless .uch rrtisoelivery i' due lo willful breecb oC tile provis;oM oClhis Conll"8ct or atO" ncsligCl\ce of Aaent.
R, A'ITORNEY'S FElS; COSTS: In any litigation. including breach, enforcement or intelprclarion. srising out of Ibis Conl1act, !he prr;vailing party in such litigalion, whid\, Cor plllpO$es of
IIl\S 5IaMarl!, &hail include Sellcr, Buyer BnO any brokers acting in agency or nonagcncy relalionsl1ips aullaoflzed by Chapler 475. r.5., as ameDded, .Ilalllle cnlille<lto recover from Ihc
1\0n-prevAiling party tC~lotlAble 'UOtOfl)/'s fees. corlS Ind expcMe,.
S. FAILURt OF l'E1lFORMANCE: If Buyer fails to perform thiS Contract within lllc lime spccificd, including paymenl of all deposits, lhe deposil(S) !laid by Buycr and deposit(s) agreed to
be paid, may be recoyered anLl ret~ineLl by anll fur me accounl of Seller as lI~re~'II upon Iiquidllll:d damages, consideranon for the execution or mls ContNCt and 11\ fUlllettlemem of any
elaims: whereupon. Buyer and Seller .b~1I be relieved of III obligations unoer lhi. Conrracl; or SeUer. at Seller'a oplion. mlY proceed in equit)lLO Ctlfot<!l! Sallot's rlshtt; und.... lhi. ConLr..I,
If for any rCllion other than failure of Seller to make Seller'1 tille markelable after diligenl effort, Seller fails. neglcc:lS or refuses 10 \lccform this Contract, Buyer may seek spccific perrOrlndnCe
or elccl to rcc:eive Ibc rcturn or Buyer'S Cleposit(S) wilhOUt lllerelly waivl/IS aoy aelioo Cot damages reSUI\ing fronl ScllCl"s breach.
T. COJllTRACT NOT RECORDABLE: PER.SONS BOUND; NOnCE: Neitber this Contract tlor Iny I\o\iee of It sha.11 be recorded in any public reco.ds. Thi, Contract shall bind and inure
10 lhe benefit of the panies and their sueccssofl in interest. Whcnever \he context permits, lingular shall include plural and one gender Ihall include all. Notice given by or to the attorney
lOr any pany shall be II effCC:live as if Biven by or 10 thll ratty,
U. CONVEY A!\lCE: Seller sball convey litlc to \he rC<l property by st~tutory w~(T~nty. troslee's. perSOnal r~prescnl,tive's or lu~rdi~,,'s deed, a. ap"ropri<lle 10 the slatus o( Seller. .ubjc:ct
only to maLleu cQnlained ill Paragrapb VII and tbose atllelWise aceepled by Buyer, Personal proplll'lY shall, at !he request of Buyer, be tral1sferred by an Ibsolute bill of nle wilh warranly
of ull~, .UbjGCI ani)' to auch mall"r. .. may btl OLhtlrwl.lS pravid~d for be"'in.
V, OTHER ACREEMENTS: No orior or prCSIll\lagreet1ltll\lS or rellreSe1llatiuns shall be bintlin~ upon Buyer or Seller unless included in tbis Contner. No Illodilic:alion to or chanse in thi,
COlllraCl shall be valid or binding upon the parlies unless in writing and executed by lbe party or pirtics itllcnded 10 be bound by it
~. W ARR.ANTY: Seller tVarf*nls Ihat Ibere are no facla known 10 Seller materially affecting the value of Ihe Properly which arc not readily obscl'VlIblo by Buyer or which bave nOI been
dIsclosed to Buyer.
Buyer ( ) ( ) and Seller ( ) ( ) acknowJed2:e receipt of a copy of this page.
P"'RlBAR.~ Rev. 1IIY8 COPYRIGHT 1998 THE FLORJDA BAR AND T}ffi PLOlijO^ MSOClATIOJII OP REALTORSGll
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LEGAL:
A portion of Tract A, The People's Property, as recorded in plat Book 106, at
Page 37, of the Public Records of Miami-Dade County, Florida, being more
particularly bounded and described as follows:
Beginning at a Point which is the Northwest corner of said Tract "A";
Thence on a bearing of East along the North boundary of said Tract "A",
200.00 feet;
Thence South , degrees 06 minutes 20 seconds West along the Easterly boundary
of said Traot "An, GO.OO feet;
Thence on a boundary of East along the North boundary of Tract. "A", 50.00
feet;
Thence South 6 degrees 06 minute:! 20 seconds West along said Easterly
boundary of said Tract IIAn, 74.29 feet;
Thence on a bearing of West along a line drawn parallel to and 125.00 feet
North of and measured at right angles to the South boundary af said Tract
"An, 250.00 feet;
Thence North 6 degrees 06 minutes 20 seconds East along the westerly boundary
of said Tract II A" (also being the Easterly right-af-way line of Atlantic
Boulevard), 134.28 feet to the Point or Place of Beg1nning.
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
harmless from and against any claims, losses, liabilities or damages resulting from
such inspections and from and against any mechanic's liens or claims of lien resulting
therefrom. Such indemnification shall survive the Closing or earlier termination of
this Agreement.
c. Seller shall make available to Buyer no later than twenty (20) days following the
Effective Date of this Agreement, copies of all documents (other than appraisals)
which Seller may have in its possession pertaining to the Property including, but not
limited to, building plans, architectural plans, building permits, impact fee
assessments, notices of special assessments, notices of sewer fees and water fees,
unrecorded restrictive covenants, variance application/approvals, special exception
application! approvals, engineering plans, unrecorded developer agreements,
environmental reports, surveys and prior title insurance policies, title commitments,
and title exceptions pertaining thereto, if any. Buyer acknowledges that Seller has
informed Buyer that Seller has few, if any, of such documents.
d. Seller shall convey marketable title to the Property. Marketable Tide shall be
determined according to the Title Standards adopted by authority of the Florida Bar
and in accordance with law. Buyer shall have ten (10) days from the date of receiving
the Title Commitment to examine same. If title is found to have defects which
render tide unmarketable, Buyer shall notify Seller in writing within such ten-day
period of any such title defects which are objectionable to Buyer (the "Title
Objections"). Time is of the essence for Buyer to notify Seller of any Title
Objections and Buyer's failure to include any such tide defect in such a timely notice
shall constitute a waiver by Buyer of its right to object to such defect. The Buyer's
notice of Tide Objections shall include a statement of how the defects should be
cured. Seller shall have until the Closing Date to remove all Title Objections. If any
Tide Objections are not removed on or prior to the Closing Date, Buyer shall have
the option of either accepting title in its existing condition without any reduction of
the Purchase Price, or of terminating this Agreement by delivering to Seller a written
notice of termination at the Closing. Upon such a termination of this Agreement,
neither Buyer nor Seller shall have further rights or obligations hereunder except for
those that expressly survive termination of this Agreement except that the Escrow
Funds shall be refunded to Buyer under these circumstances, provided that Buyer
had timely exercised the Option in the manner required under this Agreement. Seller
agrees that if title is found to be unmarketable, Seller will use diligent efforts to
correct all Title Objections that are timely objected to by Buyer, within the time
provided therefore, and subject to the limitations that Seller shall not be required to
bring any action or proceeding or to incur any expenses in excess of five percent
(5%) of the Purchase Price in the aggregate to cure any such Title Objections.
e. Buyer may obtain at its expense a survey (the "Survey") of the Property showing all
improvements thereon prepared by a land surveyor or engineer registered and
licensed in the State of Florida. The Survey shall show the legal description of the
Property to be the same described in Contract for Sale and Purchase. The Buyer may
require any reasonable revisions to the legal description, but Seller shall not be
required to convey any lands other than the legal description of the Property set forth
in Standard Contract for Sale and Purchase. Any objections must be delivered to
Golden Strand lnt'l Parking Lot
Contract Second ,-\ddendum 9/13/014:29 Pl\1
2
Seller's attorney within thirty (30) days after the Effective Date, Upon such proper
and timely notification, all such objections to matters shown on the Survey which
render title unmarketable shall be treated as Title Objections. Buyer's failure to
include any such matter in such a timely notice shall constitute a waiver by Buyer of
its right to object to all matters which an accurate, current survey of the Property
would reveal.
f. Except as set forth in subparagraph a. of Section 3. hereinabove, Section 4
hereinbelow and except as to Seller's collective obligation to deliver good, marketable
and insurable title to Buyer, Buyer understands and agrees that this property is being
sold "as is" with "all faults" and specifically and expressly without any warranties,
representations or guarantees, either express or implied, of any kind, nature or type
whatsoever from or on behalf of the Seller. Buyer acknowledges that Buyer has not
relied, and is not relying, upon any information, document, sales brochures or other
literature, maps or sketches, projections, proforma statement, representation,
guarantee or warranty (whether express or implied, or oral or written, or material or
immaterial) that may have been given by or made by or on behalf of Seller. If there
are any objections to marketability, the party causing such objection shall be the party
responsible for curing same.
4. Covenants. Representations and Warranties of the Seller. Seller for itself only, hereby
covenants represents and warrants the following to the Buyer.
a. Golden Strand International, Inc., a dissolved Florida Corporation, is the fee simple
owner of the Property. Seller has the full unrestricted power and authority to make,
deliver and enter into the terms and conditions of this contract. Seller has the full
unrestricted power and authority to make, deliver and enter into the terms and
conditions of this contract. Seller is taking all necessary action to authorize
performance of this contract. Seller agrees to execute any and all documentation as
required by the Buyer's title insurance company necessary to effectuate the contract
prior to closing of this transaction. In addition to those documents required under
Section J. of the Standard for Real Estate Transactions, the fee simple owner shall
transfer its interest in this Property by Warranty Deed.
b. Seller is a dissolved corporation under the laws of the State of Florida.
c. 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 property.
d. Golden Strand International, Inc. as Seller, is presently vested with good marketable
an insurable fee simple title.
Golden Strand Int" Parking Lot
Contract Second Addendum 9/13/014:29 Pi\l
3
5. Brokers.
a. Seller warrants and represents that Buyer shall not be responsible for any Brokers
involved in this transaction and agrees to indemnify and hold harmless the City, the
Buyer, from and against any costs, fees, damages, claims and liabilities arising
including without limitation attorney's fees through 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. Golden Strand International, Inc. hereby represents
that it is acting solely and only as a principal in this transaction with the Buyer and
specifically waives claim to any real estate commission.
b. It is understood and acknowledged that the Buyer has dealt with Golden Strand
International, Inc. as the Seller only and not as a Broker. Buyer warrants and
represents that Buyer has dealt with no Brokers on this transaction.
6. Assignment. This contract is not assignable by any party.
CITY OF SUNNY ISLES BEACH
By:
Buyer
Date
GOLDEN STRAND INTERNATIONAL, INC.
By:
Seller
Date
Golden Strand InCI Parking Lot
Contract Second .\ddendum 9/13/014:29 PM
4
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ADDENDUM TO CONTRACT
Addendum No, 'p~e to the Contract dated between
.GMd.rLS~t3:.ilnd Ynt:c:u:'.n-.t;i.onal., ':nC! - ---A-d.i.uolved ll'lO.Li6~ c_QXp...L..--
~_Q~~ales Bea~h
(Solln) and
(Buyer)
ooneernin8 the property d"oribed as:
Y.ac.ant-Land - TaxJolio i30-=..2.2.l.l=..O.2,l.::.o..o.10
( the .Contrad" ), Sayer and Seller make the followin8 terml and eondicioll8 parI oflhe Conll':u:l:
(1) This contract is contingent upon Buyer closing on the purchase of
real property described in that Option Agreement ~or Purohase And
Sale Of Real Property by and between BUY9r and the Estate of Prod E.
Kassner da~Qd Jun~ ~1, 2001, said property being a portion of Parcel
1, Replat of Tract "An, SUNNY ISLES SHORES, Section "A", PB 64/74,
Miami-Dade County, Plorida. If the purcho5o from the Kassner Zst&te
shall fail to close, then this Contract shall become null and void
And tbe deposit given hereunder shall be refunded to Buyer.
(~) Closing of ~his ~ransaction shall ~ake place simultaneous with
che closing of ~he ~ransact1on referred to in Paragraph (1) above.
(3) The purchase price for this property will be $14_50 per square
foot based upon a survey of the property to be obtained by Buyer.
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Date:
DS] Form 5/00