Purchase & Sale Agreement
PURCHASE AND SALE AGREEMENT
THIS AGREEMENT, made and entered into this ~day of
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, 1957, by and between MIAMI BEACH FEDERAL
SAVINGS AND LOAN ASSOCIATION, a corporation organized under the
Laws of the United States of America, hereinafter referred to as
the SELLER, and the CITY OF MIAMI BEACH, FLORIDA, a Municipal
Corporation, hereinafter referred to as the PURCHASER, its
respective successors, legal representatives and assigns, wherever
and whenever the context so requires or admits.
WIT N E SSE T H
That for and in consideration of the sum of Ten Dollars
and other good and valuable considerations, each to the other in
hand paid, the receipt whereof is hereby acknowledged, it is
mutually agreed as follows:
The Seller agrees to sell, and the Purchaser agrees to
buy, the following described property, to wit:
Lots 19, 20, 21 and 22, Block 54 of FISHERtS
FIRST SUBDIVISION OF ALTON BEACH, according
to the Plat thereof, recorded in Plat Book 2,
Page 77 of the Public Records of Dade County,
Florida; TOGETHER with the right of ingress and
egress to and from Collins Avenue and the rear
of Lot 19 hereinabove described over and across
that certain 20 foot alleyway running from the
east slde of 3aid Lot 19 t,:) Collins Avenue and
more particularly described as the south 20 feet
of the North one-half of Lot 4, Block 54 aforesaid;
less a parcel of land described as follows:
Commencing at the point where the North lot line
of Lot 19 meets the West lot line of Lot 19,
proceed along the Westerly lot lines of Lots 19,
20 and 21 for a distance of 104 feet; thence East,
paralle11ing the North lot line of Lot 21, a
distance of 94 feet; thence North, paral1e1ling
the Westerly lot lines of Lots 19, 20 and 21, a
distance of 104 feet to the North lot line of
Lot 19; thence West, along the North lot line of
Lot 19 to the point of beginning, being a parcel
of land 104 feet running north and south by 94 feet
running East and West, all of which will be more
particularly described by a survey to be attached
to this contract and furnished at the expense of
the Purchaser, at or before the final execution of
this agreement.
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OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
The purchase price is the sum of Three Hundred Twenty
Thousand Dollars ($320,000.00), and shall be payable Seventy-
Five Thousand Dollars ($75,000.00), in cash, on the day of
closing, and the balance by the execution of a purchase money
mortgage securing a mortgage note on a form customarily used in
this jurisdiction for similar transactions, and which note shall
provide for the payment of the balance of the purchase price on
or before April 1st, 1958, together with interest thereon at the
rate of four and one-half percent (4!%) per annum, interest payable
simultaneously with the payment of the principal balance.
The property is being sold subject to all public utility
easements of record, to zoning ordinances of the City of Miami Beach,
Florida, to conditions, restrictions and limitations of record not
impairing the marketability of title and taxes for the year 1957
prorated as of the date of closing. Said deed of conveyance to
the purchaser shall contain a reservation to the grantor, its
successors and assigns, of an easement of passage over and across
the land so to be conveyed; such easement to be nine (9) feet in
width and to be used at all times in common with the purchaser,
its successors and assigns, and to provide vehicular ingress and
egress to a street or alley to and from the parcel of land heretofore
described and referred to as a tract being lu4 feet by 94 feet and
not included in the land to be so conveyed. The location of said
easement to be so reserved shall be described in the said deed of
conveyance but the deed shall also provide that the purchaser, its
successors and assigns, may from time to time change or alter the
location of said easement whenever such changes or alterations in
the location thereof are, in the Judgment or discretion of the
purchaser, its successors and assigns, required or desired by
reason of the nature of the use to which the land hereby agreed to
be conveyed shall be put to by the purchaser, its successors and
assigns, or by reason of the nature, character, extent and use of
any structure or improvement constructed or placed thereon or by any
change therein or thereof by the purchaser, its successors and
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OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
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assigns. Said deed of conveyance ,shall contain a provision, however,
that regardless of the change of location of the easement providing
for ingress and egress as aforesaid, said easement shall at all times
be over and across that portion of the land to be conveyed described,
bounded as follows, and hereinafter referred to as Parcel ItA":
Commencing at a point on the northerlY line of said
Lot 19, said point being a distance of 94 feet from
the northwesterly corner of said Lot 19; thence southerly,
parallelling the westerly line of said Lots 19, 20 and 21,
a distance of 104 feet; thence easterly, parallelling
the north line of said Lot 19, a distance of 20 feet;
thence northwardly, parallelling the westerly line of
said Lots 19, 20 and 21, a distance of 104 feet to a
point on the northerly line of said Lot 19; thence
westerly along said northerly line of saId Lot 19, a
distance of 20 feet to the point of beginning.
Provided, however, that the purchaser, its successors and assigns,
shall have the right to place, construct, reconstruct, erect and
thereafter maintain any structure in, upon, over or under said
easement or any portion thereof as the same shall be located or
relocated from time to time, provided only, however, that such
structure or structures and supporting members thereof to be placed
over that portion of said easement over and upon said Parcel ItA" shall
not be of a vertical clearance of less than eight (8) feet, and that
any structure or structures and supporting members thereof to be
placed in, on or under said easement shall not materially obstruct or
prevent the free passage of pedestrian or vehicular traffic thereon,
said easement
and/shall be used at all times in common with the purchaser, its
successors and assigns.
Said deed shall also grant to the purchaser, its successors
and assigns an easement for passage, ingress and egress in common with
the grantor, its successors and assigns, in, to, over and upon the
southerly five (5) feet of the parcel of land heretofore described and
referred to as a tract being 104 feet by 94 feet and not included in the
land to be conveyed, to and from Washington Avenue and the land hereby
agreed to be conveyed.
The Seller agrees to furnish, at its expense, unto the Purchaser,
an abstract of title to the property above described, including the North
one-half (N~) of Lot 4, Block 54, continued to a date which shall not be
earlier than the date of this contract, or later than twenty (20) days
thereafter.
The Abstract of Title shall show the title of the Seller
to be good and marketable, and subject only to the matters and
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OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
things set forth in this contract. If, in the opinion of the
Purchaser, the title is not good and marketable, as shown by
the Abstract, then the Purchaser shall notify the Seller, in
writing, within ten days after receipt of the Abstract as to
the particulars in which the Abstract does not show the title
to be good and marketable, and the Seller thereafter shall have
thirty days time in which to make the title good and marketable,
and shall use all due diligence to do so, but, if after using
due diligence the Seller is unable to make the title good and
marketable, within the thirty day time limit above set forth,
then it shall be the option of the Purchaser to accept the title
in its existing condition, or refuse to do so, and, if it refuses
to do so, this contract shall be cancelled, made null and void
and of no further force and effect, and the parties hereto
relieved of all liability hereunder.
The closing of this transaction is dependent upon all
of the charter provisions of the City of Miami Beach being complied
with, including the advertising of the purchase of the property
pursuant to such charter provisions, and the Seller understands
that the execution of this agreement at this time is only for the
purpose of indicating unto the Seller that the Purchaser is
interested in acquiring the property, but that no liability shall
attach unto the Purchaser by the execution of this contract at
this time, and that the contract shall become binding upon the
Purchaser only after the provisions of the charter have been
complied with, but, in this connection, the Purchaser agrees
that it will, as soon as it is practicable to do so, proceed with
attempting to fulfill the requirements of the charter with respect
to the purchase of this property.
The parties understand and agree that no real estate
broker is entitled to receive a commission as a result of this
transaction.
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OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
The Purchaser agrees to close this transaction (Providing
it is authorized to do so pursuant to the compliance with the
charter provisions above referred to), and pay all of the cash
portion of the purchase price and execute the mortgage and
mortgage note above referred to, not later than seventy-five
days from this date; otherwise, this contract shall, at the
option of the Seller, be null and void and of no further force
and effect, and the parties hereto shall be relieved of all
liability hereunder.
IN WITNESS WHEREOF, the parties hereto have caused the~
presents to be signed by its duly authorized officers, and affixed
its corporate seals by order of its boards of directors, the day
and year first above written.
Signed, Sealed and Delivered
in the Presence of:
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W~tnesses as to Seller
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By
Dated this 6th day of
March, 1957.
SELLER
CIT
By
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Witnesses as to Purchaser
ATTEST:
PURCHASER
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OFFICE OF crry ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
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