HomeMy WebLinkAboutReso 2013-2013RESOLUTION NO. 2013- 2,0 13
CFN 201480080023
OR 8k 29013 Pss 1252 — 1254; (3aes)
RECORDED 01/31/2014 14:30:32
HARVEY RUVINr CLERK OF COURT
MIAMI —DADE COUNTY? FLORIDA
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE
TRANSFER OF DEVELOPMENT RIGHTS ( "TDRS ") IN THE
AMOUNT OF TWENTY TWO THOUSAND SEVEN HUNDRED
SIXTY FOUR (22,764) SQUARE FEET OF FLOOR AREA AND
ELEVEN UNITS (11) TO SUNNY ISLES BEACH ASSOCIATES,
LLC (A/K/A JADE SIGNATURE) FOR THE PROPERTY
LOCATED AT 16875 AND 16901 COLLINS AVENUE FROM THE
PRIVATE TDR BANK ACCOUNT; APPROVING ASSIGNMENT
AGREEMENT BETWEEN ABUS, LLC AND SUNNY ISLES
BEACH ASSOCIATES, LLC DIRECTING THE ZONING
ADMINISTRATOR OR DESIGNEE TO TRANSFER THE TDRS
FROM THE PRIVATE BANK ACCOUNT IN ACCORDANCE
WITH ZONING RESOLUTION 13 Z I� AUTHORIZING THE
ADJUSTMENT AND MODIFICATION OF THE PRIVATE TDR
BANK; PROVIDING THE CITY MANAGER WITH THE
AUTHORITY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, by Zoning Resolution No. 13-2-1 adopted January 8, 2013 the City
Commission approved the zoning application submitted by Sunny Isles Beach Associates, LLC
("Applicant') for the transfer of TDRS in the amount of 22,764 square feet of floor area and I 1
dwelline units: and
WHEREAS, on November 2, 2012, Sunny Isles Beach Associates, LLC. entered into an
agreement of assignment of TDRS with Abus, LLC, wherein Abus, LLC assigned and transferred
22.764 square feet of TDRs and 11 dwelling units to Sunny Isles Beach Associates, LLC.
WHEREAS, the Private's TDR Bank accounts balance will be adjusted to reflect the
utilization of TDRS to the Applicant and to reflect the reduction of Twenty Two Thousand Seven
Hundred Sixty Four (22,764) square feet of floor area and Eleven (11) dwelling units: and
WHEREAS, the propem, receiving the TDRS is described as follows:
Location: 16875 & 16901 Collins Avenue
Parcel 1. All that part of the North 100 feet of the South 300 feet of Lot 1, of TATUM'S
OCEAN PARK SUBDIVISION, according to the plat thereof. as recorded in Plat Book
10 at Page 64 of the Public Records of Miami -Dade County, Florida, extending from the
Erosion Control Line of the Atlantic Ocean, said line recorded in Plat Book 134 at Page
47 of the Public Records of Miami -Dade County, Florida to the East right of way of State
Road A -1 -A (formerly State Road 140), as said road is shown on a Plat thereof, recorded
in Plat Book 47 at Page 101, of the Public Records of Miami -Dade County, Florida.
Parcel 2. All that part of the North 100 feet of the South 200 feet of Lot 1, of TATUM'S
OCEAN PARK SUBDIVISION, according to the plat thereof, as recorded in Plat Book
Jade Signature - Abus Pm-a[e TDR Bank Page t of 3
S
10 at Page 64 of the Public Records of Miami -Dade County, Florida, extending from the
Erosion Control Line of the Atlantic Ocean, said line recorded in Plat Book 134 at Page
47 of the Public Records of Miami -Dade County, Florida to the East right of way of State
Road A -1 -A (formerly State Road 140), as said road is shown on a Plat thereof, recorded
in Plat Book 47 at Page 101, of the Public Records of Miami -Dade County, Florida.
Parcel J. The Southerly 100 feet of Lot 1. TATUM'S OCEAN PARK SUBDIVISION,
according to the plat thereof as recorded in Plat Book 10 at Page 64 of the Public
Records of Miami -Dade County, Florida, said property described as follows: Bounded on
the West by the East right of way line of Ocean Boulevard (State Road A -1 -A and State
Road 140), said road recorded in Plat Book 47 at Page 101 of the Public Records of
Miami -Dade County, Florida: bounded on the East by the Erosion Control Line of the
Atlantic Ocean. said line recorded in Plat Book 134 at Page 47 of the Public Records of
Miami -Dade County, Florida: bounded on the North by the Northerly line of the
Southerly 100 feet of Lot 1: bounded on the South by the Southerly line of referenced Lot
1.
WHEREAS, the City Commission agrees to authorize the transfer of the TDRs
contemplated herein in accordance with Section 265 -23 of the Code of the City of Sunny Isles
Beach.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Incorporation of Recitals. The foregoing recitals are true and correct and are
incorporated herein by reference as if they are fully set forth herein.
Section 2. Authorizing the Utilization of Transfer of Development Rights. Pursuant to
Section 265 -23 of the City Code and in accordance with Zoning Resolution No. 13--2-1 the City
Commission hereby authorizes the utilization of transfer of the development rights in the amount
of 22,764 square feet of floor area and 11 dwelling units to Sunny Isles Beach Associates, LLC.
from the Private's TDR account.
Section 3. Approval of Assignment of the TDRs. The City Commission hereby approves the
assignment agreement attached as Exhibit "A" for the 22,764 square feet of TDRs and 11 units
between Abus, LLC to Sunny Beach Associates, LLC.
Section 4. Directive to Zoning Administrator. The City's Zoning Administrator or designee is
hereby directed to transfer the development rights from TDR Bank to Sunny Isles Beach
Associates, LLC., in accordance with Zoning Resolution No. 13 Z f 3L The City's Zoning
Administrator or designee is hereby directed to adjust the Private's TDR Bank to reflect a
deduction of 22,764 square feet of TDRs and 1 I units from the Private's TDR Bank account.
Section 5. Authority of the City Manager. The City Manager is hereby authorized to do all
things necessary to effectuate this Resolution.
lade Signature - .bus Private TDR Bank Page 2 of 3
OR BK 29013 PG 1254
LAST PAGE
Section 6. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 8h day of Jam.
Vt.
ATTEST:.
Jane A. Hines, City Clerk
APPROVED AS TO FORM
Attorney
J Moved by: ( Orr�rr\iSSIL) J) 2�llilt L
Seconded by: �� e 1\am (��� l0i6
Vote: S --D
Mayor Edelcup _(Yes) (No)
Vice Mayor Aelion _(Yes) (No)
Commissioner Gatto (Yes) (No)
Commissioner Levin Yes) _(No)
Commissioner Scholl Yes) (No)
Jade Signature - Abus Private TDR Bank Page 3 of 3
«-s H vI
THIS PURCHASE AND SALE AGREEMENT ( "Agreement's is made and entered into as of
n1DJ2—AV r 2.2012 ("Effective Date") by and belwoca Abus LLC, a Florida limited liability company
( "Seller") and SUNNY 1SI.ES BEACH ASSOCIATES, LLC, a Delaware limited liability enemy
("Purchaser ", Purchaser and Seller each a "Party ", collectively, the "Parties").
Recitalls
Seller is the owner and holder of 22,764 square fed of transferrable development rights, a
defined in Section 265-23 of the Land Development Regulations of the City of Sunny Isles Beach, Florida
(the "City', which represents 11 residential Units (the `Transferred Development Rights"), and is ready,
willing and able to sell the Transferred Development Rights to Purchaser, upon the terms set forth herein.
In consideration of the mutual covenants, conditions, and agreements set forth below, and other
good and valuable consideration, the reccipt and sufficiency of which is hereby acknowledged, the parties
agree as follows:
1. $ The foregoing recitals are We and are Ux=poreted by this reference as if set
out in full in the body of this Agreement.
Purchaser shall purchase from Seller and Seller shall sell to Purchaser the TranrfimW
Development bights in cwlmnge for the am of One Million One Hundred Thirty Eight Thousand Two
HwKtW and Noll 00 Dollars (51,139,200.00) (the "Purchase Prig ").
0=
Within five (5) days of the Effective Date haseat Purchaser aball plane in ceavow with
Alex D. Shulnik, PA ("Escrow Agent") the sum of One Hundred nfitean Thousand Fight Hundred
Twenty and N000 Dollars ($113,820.00) (the "Deposit'). The Deposit shall be applied to the Purchase
Price at the time of closing. Notwithstanding the foregoing, the Deposit shall be non-refundable to
Purchaser and automatically released to Seller upon iaenance of the Resolution ( haein der defined) and
expiration of the applicable appeal period for adoption of the Resolution, subject to Pur+ebeaer remedies in
the event of a Seller default pursuant to Section 7.
Together with the execution of this Agreement, Seller shall deliver to Purchase a folly exaxtted
Assignment of the Transferred Development Rights in the form attached hereto as Exhibit "A" (the
"Seller's Assignment"), The Seller's Assignment shall serve as a conditional Assignment of the
Transferred Development Rights x*cd to Purchaser closing as sal forth herein. In the event Purchaser
fails to close on the purchase of the Tranefarned Developm ad Rests, whether such failure rapes an
event of ddault or otherwise (excluding by reason of Seller's defeahltj Purl aser shall reassign the
Transferred Development Rights to the Seller pursuant to the Assignment of the Transferred
Development Rights in the form attached hereto as &hibit "B" (the "Purchaser's Reassignment).
Purchaser shall execute the Purchaser's Reassignment together with this Agreement which shell be held
in escrow by the Escrow Agent. In the event Purchaser closet on the purchase of the Transferred
Development Rights as set forth in this Agreement, Seller's Assignment shall be deemed unconditional,
Purchaser shall be fully vested with ownership of the Transferred Development Rights, the Purchaser's
Rassigameat shall be voided, of no force and effect and returned to the Purchaser at closing. In the event
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Purchasa does not close on the purchase of the TVanaferted Demloprnent Rights, other than by reason of
Seller's default, F.tcaow Agent shall be authorized to release the Purchaser's Reassign edit to the Seller
wbacupon the Seller shall have title to the Transferred Development Rights; thereafter, the Parties WWI
be released of nay and an obligations to each other under this ,agreement, subject to Seller's remedies in
the event of a Parchasar default pursuant to Section 7. Additionally, together with this Agreemeni, each
Party shall execute (i) an Indemnity Agreement in favor of the City in the form attached ha to as Exhibit
"C" and Exhibit "D", as applicable, of any other such form required by the City evidencing the
assignment of the Transferred Development Rights and (ir) an instruction letter from Seller to the City of
Sunny Was Beach notifying the City as to the assignment of the Transferred Development Rights to
Purchaser, and an instruction letter ibm Purchaser to the City of Surrmy Isles Beach notifying the City as
to the re- assignment of the Transferred Development Rights to Seller.
4. QQ&g Dat
The closing of this transaction shall take place at the offices of Escrow Agent on April S.
2013, provided that the City has adopted a resolution (the "Resolution") confirming that the sale of the
Transfared Developrent Bights as contemplated in this Agreement has been approved and any appeal
rights related to the adoption of the Resolution have expired. At the closing, Purchaser shall deposit the
remaining balance of the Pun base Price with Escrow Agent and Swrow Agent shall automatically release
the Seller's sale proceeds directly to Seller. 7irereatier, the Seller's Assignment shall be unconditional
and the Seller shall return the Purchaser's Reassignment to the Purchaser, which shall be void and of no
force and effect. Notwithstanding anything contained bafein to the contrary, dm the event We Resolution
has not been adopted on or before February 28, 2013, andfor any applicable qq mis period related to the
adoption of the Resolution have not expired on or before March 31, 2013. then unless otherwise extaxled
by mutual agreement of the Paetiea, Purchaser may terminate this Agreement, SeUer shall return the
Deposit to Purchases, and Escrow Agent shall be aulhorized to release the Purchaser's Reassignment to
the Seller. theeafler, the Parties shall be released of any and all obligations to each other under this
Agreement. If Purrataser elects to terminate this Agreement in accordance with this Section, Escrow
Agent shall be authorized to rctum the Deposit to Purchaser within five (S) days of receiving notice of
such termination.
S. Closing Costs
(a) At dosing, Purchaser &hall pay the costs of transfer tax and dommentary, stamps, if
any, on the Sellar's Assignment, its own attorney's fees, and any costs associated with notifying the City
of the transfer of the Transferred Development Rights.
(b) Purchaser shall pay any expenses related to its due diligence and inspections
performed therein.
(c) Seller shell pay its own attorney's fees and coats related to this Agreement.
Documents to be delivered at Closing
(a) Seller ahall deliver at Closing to Purchaser.
(1) An Indemnity Agreement in such form required by the City (to the
extent sucb Agreement has not already been delivered to the
Purchaser);
(ii) A corporate resolution of Seller authorizing the individual executing
the documents to do so on Seller's behalf, and
(iii) Any and all such other reasonable and customary documents necessary
to consummate the dosing of this purchase and sale transaction or to
confirm the assignment of the Transferred Development Rights.
(b) Purchaser "I deliver at Closing to Seller.
(i) The Balance of the Purchase Price by federal wire tianafer,
(ii) A corporate resolution authorizing the individual executing the
documents on Purchaser's behalf to do so on Purchaser's behalf, and
(iii) An Indemnity Agreement in arch foam required by the City (to the
extent such Agreement has not ahready been delivered to Seller).
011,
In the event of a fafure by either Party to perform any obligation or covenant which
either of them is obligated to perform under this Agreement, except for the bailers to close in
accordance with the terms of this Ag cement, which failure WWI constitute an immediate default
he curler. no default shall occur until notice thereof is given to the defaulting Party by the other
Party hereto asserting ten event of de fink has occurred, describing the nature of the default, and
giving a period of five (5) days to cue the default if readily curable by the payment of money, or
a period of ten (10) days to cure the default, if not readily curable by the payment of money.
In the event of the failure or refusal of the Purchaser to close this transaction, without
fault on Seller's part and without failure of any conditions precedent to Purchaser's obligations
hereunder, Seller " receive the Deposit together with all interest earned therm (if any) as
agreed and liquidated damages for said breach, and as Seller's sole and exclusive remedy for
default of Purchaser, whereupon the parties shall be relieved of all fWther obligations beraunder,
except those obligations which specifically survive such Closing. Purchaser sad Seller
aclmowledge and agree that actual daanages are ddScu t or impossible to ascertain and the
Deposit, is a fair and reasonable estimation of the damages of Seller.
If after notice and the expiration of the rue patod provided herein, Seller fails to
perform any of its covenants as set forth in this Agreement or fails to properly convey the
Transferred Development Rights whm obligated to do 8o in accordance with the terms hereof
Purchaser shall be entitled to receive the return of the Deposit, or seek specific perfonmemex
against Seller without waiving any rights to recover my actual damages and out -of- pocket
expenses incurred by Purchase.
a. Ce ffanission.
Neither Seller nor Purchase has had any contact or dealings regarding the Transferred
Development Rights, or any communication in connection with the subject matter of this
Agreerntmt through any real estate broker or other person who can claim a right to a commission
or finder's fee in connection with the sale otlntemplated herein. Each Party WWI indemnify and
hold harmless the other from any claims for any commissions by any brokers, salesmen, or agents
0
regarding the TrandaTe i Development Rights. The provisions of this Section shall survive
termination of this Agrearr mt.
(a) The duties of Escrow Agent are purely ministerial in nature and shall be
expressly limited to the safekeeping of the Assignment, and for the disposition of same in
accordance with this Agra meat. Each of the parties to this Agreement shall and do jointly and
severally indemnify Escrow Agent and hold Escrow Agent harmless from and against any and all
claims, liabilities, damages, costs, penalties. losses, actions, suits, or proceedings at law or in
equity, or any other expeasts, fees, or charges of any cbaracter or nature, which Escrow Agent
may incur in connection with this Agreement or which may taint from Escrow Agent's following
of instructions from the parties, whether or not litigation is institaleal.
(b) Escrow Agent shall not be liable: (r) to any of the parties for any act or omission
to act except for Escrow Agent's own gross negligence or willful misconduct; (iri) for any legal
effect, insufficiency, or undesirability of any instrument deposited with or &Uvcmd by Escrow
Agent or exchanged by the parties under this Agreement, (iii) for the default, error, action, or
omission of any party to this Agr+eenmmi other than Escrow Agent; or (iv) for Escrow Agent's
compliance with any legal promos, o4oana, wr$s, orders, judgments, and decrees of any court,
whether issued with or without jurisdiction, and whedrer or not subsequently vacated, modified,
set aside, or reversed.
(c) Escrow Agent may: (i) act in reliance upon any writing or instrument or sigiaature
which it, in good faith, believes to be bona fide and genuine; (iii) assume the validity and accuncy
of any statement contained in such a writing or inetntntextt; and (iii) assume that any person
puzporting to give any writing, notice. advice, or instructions in connection wilb the provisions of
this Agreement has been duly suthoarized to do so. Escrow Agent shall not be liable in any
manner for the anfficieney as coucctnesas as to form, manner, and execution, or validity, of any
instruammt deposited in escrow, or as to the identity, authority. or right of any person executing
same. Nothing contained herein shall be deemed to pnvatl Escrow Agent from serving in a
siruilar capacity on behalf of others.
10. Rim
(a) Many dispute arises among any of the parties to this Agreement and/or any third
parties (whether concerning this Agreement, Escrow Agent's duties hrawnder. The disposition of
the Assigmwz(, or any other matters), or if Escrow Agent shall be uncertain as to its duties or
rights under this Agreement or shall receive instructions, claims, or demands frown any of the
other parties to this Agreement and/or any third patties with respect to the Assignment which, in
Escrow Agmtb opinion, are in onof ict with each other or with my provision of this Agreement,
or if Escrow Agent is joined a a party to a lawsuit by virtue of the fact that it is holding the
Deposit Agent. upon giving written notice to Sadler and purchaser, shall• (i) continue to hold the
Deposit in escrow until such time as such dispute, uncertainty or lawsuit shall have been resolved
to Escrow Agent's satisfaction, or by a final older or judgment of a court of competent
jurisdiction; or (10 interplead the Deposit by filing an intapkeder action in the Circuit Court in
and for Miami Dade County, Florida (to the jurisdiction of which all parties do hereby consent)
and depositing the Deposit into the registry of the court, whereupon Escrow Agent shall be
relieved and rdesse d from any further liability as Escrow Agent under this Agreement.
S3
(b) Seller acknowledges that Alex D. Sindnril; PA. is acing as Escrow Agent
hereunder end is counsel to Seller. In the event of any dispute bdwoen Seller anal Purchaser,
Alex D. Siruh* P.A. shall be permitted to continue to represent Seller in such dispute,
including without limitation, any dispute over the delivery or release of the Deposit.
11. Attomevs' Fees. In any dispute among the parties related to this Agreement, the party or
Parties not subatmotially prevailing shall pay, and shall he jointly and severally liable for (r) the
reasonable attorneys' fees and costs of the other party or parties involved in the dispute, and (n) the
amount owed to Escrow Agent under this Agreement for any attorneys' fees, costs, damages, or losses
incurred by Escrow Agent in connection with sueb dispute.
12. hx1emnification . Seller and Purchaser, jointly and severally, agree to indemnify sad hold
Escrow Agent harmless from and against any and all liabilities incurred by it, and to indemnnfy and hold
it harmless fram and against any ad all losses, costs, claims, damages, liabilities, and expenses, inehtding
reasonable attorneys' fen and other costs sad expenses incurred, sustained by, or asserted against it, other
than those arising out of the pass negligence or wi11fu1 misconduct of Escrow Agent, including
reasonable costa of investigation and stoarneW fees and disbursements winch may be imposed upon
Escrow Agent or iacussed by Escrow Agent in connection with the acceptance of its appointment
hereunder or in the performance of its duties hereunder, including any litigation arising from this
Agreement or involving the Deposit.
13. Notices All notices and other communications required or permitted to be given under
this Agreement tdtall be in writing and shall be hand delivered or maned by certified or registered map,
postage prepaid, or by Federal Express, or sisailar overnight delivery service. and shall also be delivered
elet:t Wcally, addressed as follows:
If to Seller. 1000 8 Hallandale Beach Blvd.
Suite B
iWlandak Beach, Florida 33004
Attention: Mawel Groukopf
In
With a copy to: Alex D. Situlnik, PA.
2701 Foam de Lem Blvd., Suite 202
Coral Gables, Morids 33134
Attention: Alex D. Sink, Esq.
lWWaw&M
Ifto Purchases: Fortune Development Corporation
1300 Brickell Avenue
Miami, Florida 33131
Attention: Eduardo imery
cimam'a inane- nelwork.com
With a copy to: Weiss Scrota HelfMan, et al
2525 Ponce de Leon Blvd.. Suite 700
Coral Gables, Florida 33134
Attention: Cliff Schulman, Esq.
ELdMIMPR@NAb-jaw.com
If to Escrow Alex D. 3irulnik, P.A.
Agent: 2701 Ponce de Loon Blvd., Suite 202
Coral Gables, Florida 33134
Attention; Alex D. Siralnik, Esq.
ada ftimloAlaw.com
Notice shall be deemed to have been given upon receipt or refusal.
14. Bindi= Assign.
This Agreement shall be binding upon the parties and their respective successors and
permitted assigns.
15. Calculation of Time Frames
All time frames herein shall be calculated be on calendar days.
16. Waiver: Mod' cation.
The waiver of any terms, provision or condition of this Agreement shall be effective only
if in writing and signed by all the parties to this Agreement, and then only in the specific instance and for
the particular purpose for which it was given. No kilum to exercise and no delay in exercising any right
or power under this Agreement shall operate as s waiver thereof. No modification, amendment,
cancellation or rescission hereof shall be valid and binding, unless it is in writing and signed by all parties
to thia Agreement.
17. Entim Al3MM.
This Agr+ament constitutes the entire agrxment and understanding among the parties as
to the subject matter hraeog and :ball not be modified in any marmer except by an instrument in writing
executed by the patties or their respective successors in interest..
IS. lam'
The beadings used in this Agreement arc for convenience only, and shall not be used in
interpreting or construing any provision of this Agreement.
This Agroemani may be executed in any number of countupezu. Each such counterpart
shall be deemed to be an original instrument, but all such cmatagmu together shall constitute but one
Agreement. This Agretcuent may be exemftd vis facsimile transmission, and facsimile counterparts shall
have the same %rce and effect as original signatures.
20. Back up Contract, During the term of this Agreement and continuing through Closing,
Seller shall have the right to negotiate for and enter into a "backupr contract to protect it against the
possibility that Purchaser may default under this Agreement, with any "backup" contract subject to this
Agreement or any amendments or modifications to this Agreement, including without limitation
Purchaser's rights hereunder.
21. Tim rime is of the esseam
22, Wain of Trial by Im. THE PARTIES HERETO WAIVE TRIAL BY JURY IN ALL
MATTERS ARISING OUT OF THIS AGREEMENT.
SIGNATURE PAGES FOLLOW
WITNESS OR ATTEST:
PURCHASER:
SUNNY ISLES BEACH ASSOCIATES, LLC, a
Delaware limited liability company
By. SIBA MANAGER, LLC, a Florida limited
liability company, as Administrative
Member
BY= _.
Name:
Title: _
11
By: FORTUNE IlVTSRNATIONAL
MANAGEMENT, INC., a Florida
corporation, MsrwSerr
By.
Name:akAr�o
Title: l�►lAw.+�� ti.cp� a s�++�. 'v �.
s lrtonp*ntted naplity company
Pied hr.
EXHIBIT "A"
SELLER'S ASSIGNMENT
ASSIGNMWNT OF TRANSFER OF DEVELOPMENT RIGHTS
KNOW ALL MEN BY THESE PRESENTS, that Abus, LLC, a Florida limited liability
company (" Assignor"), for and in consideration of the sum of Tee and N61100 ($10.00) Dollars,
and other good and valuable consideration, paid, received from, and on behalf of Sunny Isles
Beach Associates, LLC, a Delaware limited liability company (*Assignee "), its heirs, successors,
or agents, at or before eusealing and delivery of the presents, in Miami -Dade County, State of
Florida, the Teceipt and sufficiency of which is hereby acknowledged and accepted, does hereby
grant to Assignee 22,764 square feet of Transfer of Development Rights (IMRs ") and 11
corresponding marts held in an account designed for and held for Assignor, with the City of
Suzy hales Beach, Florida.
WHEREFORE, Assignor has on deposit in a TDR Bank with City of Sunny Isles Beach,
Florida, the amount of 22,764 square feet of TDRs and 1 l corresponding units in an account for
the benefit of Assignor as owner of same;
NOW, THEREFORE, in considasdon of the mutual promise and exchange between the
parties and other good and valuable consideration, the parties agree and stipulate as follows:
The above recitals are true and correct and are hereby incorporated by reference herein.
Assignor upon execution of this Assignment, hereby assigns and transfers 22,764 square
feet of TDRs and 1 l corresponding units to Assignee, its heirs, successors, or agents.
TO HAVE AND TO HOLD, the same unto the said Assignae� its heirs, legal
representatives, successors, administrators and assigns forever.
IN WITNESS WHEMOF, the party herein has caused this Assignment of Transfer
Development Rights to be executed by its duly authorized representative freely and voluntarily
on this nth day of _LL 2012.
0
(See Separate Signature Pages)
Witnessed;
t1
STATE OF FLORIDA
: SS
COUNTY OF MIAMI -DADS
71e foregoing in ent was acknowledged before me this A day of L, 2012 by
gjrrw as of Abos, LLC, Florida limited liability company,
who is personally known to me or has produced as identification and who did
take an oa&
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EXHIBIT "C"
SELLER'S ASSIGNMENT INDEMNITY
INDEMNIFICATION & HOLD HARMLESS AGE
This Indemnification and Hold Harmless Agreement dated this Z day of 07 J e,..l f
2012 is entered into by ABUS LLC, a Florida limited liability company ("Assignor') and
SUNNY ISLES BEACH ASSOCIATES, LLC, a Delaware limited liability company
("Assignee') in favor of the City of Sunny Isles Beach, Florida (the "City").
WHEREAS, Assignor has assigned to Assignee 22,764 square fed of transferrable
development rights, as defined in Section 265-23 of the Land Development Regulations of the
City of Sunny Isles Beach, Florida (the "City" � which represents l l residential Units (the
'Transferred Development Rights "), in an account designated and held for the benefit of
Assignor with the City, and
WHEREAS, pursuant to that certain Purchase and Sale Agreement by and between
Assignor and Assignee dated , 2012, Assignor and Assignee have agreed to indemnify and
hold harmless the City as hereinafter provided.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for
other good and valuable consideration, the receipt of which is hereby acknowledged, Assignee
and Assignor agree as follows:
1. The above recitals are true and correct and are incorporated herein.
2. Assignor has assigned to Assignee the Transferred Development Rights which we
held in an accotmt for the benefit of Assignor with the City.
3. Assignor waives any claims against the City arising as a result of the transfer of the
Transferred Development Rights from Assignor to Assignee and Assignee agrees and does
hereby indemnify and bold harmless the City from any liability as to any claims that may arise
between Assignee and Assignor or any private parties as a result of the transfer of the
Transferred Development Rights from Assignor to Assignee.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day
and year first above written.
(See separate Signature Pages)
13
Witnessed: ASSIGNOR
ABUS
com
5 atDre
Pn� nt Name
By:
Name:
Tide: _
Si�oa
urY.ta Q. Clja
Print Name
STATE OF FLORIDA )
) as:
COUNTY OF MIAMI DARE )
SWO ! TO AND UBS BF before 's day of -
2812, by g,' i as of ABUS LLC, a Florida
limited Habifffy company, who is person ly Imown to me or (_j has produced
as idtntification.
" +L DAIBMA1.801OM80
z MM CSI(/ DD811978 A7.4 /JA6
I . aad d� Pms e u 3 tma Notary ublic
111,fi
(SEAL)
My Commission Expires:
My Commission Number:
14
Witnessed:
_..PM 11 ►tsi.
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Print Name
STATE OF FLORIDA )
) ss:
COUNTY OF MIAMI DADE )
ASSIGNEE:
SUNNY ISLES BEACH ASSOCIATES, LLC,
a Delaware limited liability company
By: SIBA MANAGER, LLC, a Florida
limited liability company, as
Administrative Member
BY FORTUNE INTERNATIONAL.
MANAGEMENT, INC., a Florida
corporation, as Manager
By: ��
Name• _ �.,....c.. ?�,..,
Title: • &k.. ?'A
The foregoing instrument was acknowledged before me this 2. day ofh)OV&hW
2012 by SUNNY ISLES BEACH ASSOCIATES, LLC, a Delaware limited liability company by
its Administrative Member SIBA MANAGER, LLC, a Florida limited liability company by its
Manager of FORTUNE INTERNATIONAL MANAGEMENT, INC., a Florida corporation, who
is personally known to me or has produced
an oath.
(SEAL)
uB nFam A
WOMI snoneouMIN
EPM-W 19,2013
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My Commission Number. taxi If 151
15
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Carr OF 5Vµ Aa0
FROM:
DATE:
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947 -0606 City Hall
(305) 949 -3113 Fax
MEMORANDUM
The Honorable Mayor and City Commission
Claudia Hasbun, City Planner
1/8/2013
RE: Transfer and Assignment of Development Rights (TDRs)
Jade Signature - Sunny Isles Beach Associates, LLC.
16875 & 16901 Collins Avenue
Appl. No. Z2012 -16
RECOMMENDATION:
Staff has no objection to the TDRs assignment provided that all conditions for the Site
Plan are satisfied.
REASONS:
The Applicant has acquired 22,764 square feet and 11 dwelling units of private TDRs
from the private TDR bank owned by Abus, LLC. Consequently, the Applicant is
requesting to approve the utilization of private TDRs in the amount of 22,764 square feet
of development rights and 11 dwelling units in accordance to Zoning Resolution
NoI3�2-A� and this Resolution.
ATTACHMENTS:
• Resolution
• Purchase Agreement
Agenda Item q A
Date i — 19" 13