Resolution 2505 1
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't ,,-°' RESOLUTION NO. 2505
WHEREAS, on the 2nd day of December, 1931, the
City Council of the City of Miami Beach, pur-
suant to negotiations theretofore made, made to Florida,JOHN
B. REID & COMPANY, INC. , a Florida corporation, as au-
thorized agent for the owners of the hereinafter des-
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cribed property, to-wit:
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Block One Hundred Fourteen (114) of OCEAN
BEACH ADDITION No. 4, together with all
riparian rights appertaining thereto, as
recorded and shown in Plat Book 3 at Page
151 of the Public Records of Dade County,
Florida,
an offer to purchase said property at and for the price
of Eighty Thousand Dollars ($80,000.00) to be paid in
the manner following:
Thirty Thousand Dollars 030,000.00) cash,
and the balance of Fifty Thousand Dollars
0,000.00 payable in equal amounts one
1 two (2 , three (3) , four (14.) and five
5 years, respectively after forty (40)
days from this date with interest on said
deferred payments at the rate of six per
cent (6%) per annum, payable annually;
that said title should be insured by a good and suffi-
cient title insurance policy issued by the New York
Title and Mortgage Company with branch offices at Miami,
Florida, and that said premises should be conveyed free
and clear of all liens and encumbrances except taxes,
which should be pro-rated as of forty (140) days from
this date. And, also, that said contract of purchase, ,.
if made, should be subject to all of the conditions and
provisions of Section Twenty-six (26) of the City Char-
ter of the City of Miami Beach, as amended in 1925. "
NOW, THEREFORE, BE IT RESOLVED by the City Coun-
cil of the City of Miami Beach, Florida, that the Mayor
and City Clerk of said City are hereby authorized and
directed to execute a contract of purchase under the
terms and conditions as above set forth, a copy of which
contract for greater certainty is hereto attached and
made a part hereof, and that they report their acts and
doings relative thereto at the next regular meeting of
the said City Council.
PASSED AND ADOPTED this 16th day of December,
A. D. 1931. 4.4
Pre dent o C ' y ouncil
ATTEST: ('' . • 470-64e.,.e.e....ed.--- _
City Clerk
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APPROVED BY ME this 16th day of December, A. D.
1931. $.:.
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CONTRACT
ARTICLES OF AGREEYENT made ,rid. entered into this
16th day of December, A. D. 1931, by and between JOHN
B. REID & COYPAITY, INC. , A Florida corporation as au-
thorized agent for the owners of the hereinafter des-
cribed property, party of the first part and CITY OF
NUM/ BEACH, FLORIDA, a Municipal corporation of the
State of Florida, party of the second nart,
WITNESSETH
That for and in consideration of the sum of Eighty
Thousand Dollars ($00,000.00) to be paid as hereinafter
set forth, said first party hereby agrees to convey or
cause to he conveyed, by good and sufficient warranty
deed, clear of all encumbrances except as to the usual
restrictions and limitations as appear of record the fol-
lowing described real estate, te-wit:
Block One Hundred FoUrteen (114) of OCaAN
• BEACH ADDITION No. 4, together with all
riparian rights appertaining thereto, as
recorded and shown in Plat Book 3 at Page
191 of the Public ecords of Dade County,
7iorida.
3aid first party further agrees to have the title
to said premises insured by a good and sufficient title
insurance polioy issued by the NEW YORY TITLt; AND 1 _OAT-
GAGE COMPANY with branch offices at Viani , Florida, said
policy to insure said title fully and completely, except
SB to said usual restrictions and limitations, and rhich
said policy shall be subject to the approval of the City
Council of the City of aiami aeach.
And in consideration thereof said second party
hereby agrees to purchase said property under the terms
and conditions as above set forth, and subject also to
the conditions as hereinafter set forth, and to pay
therefor the said sum of Eighty Thousand Dollars
( 00,000.00) in manner following:
Thirty Thousand Dollars ($30,000.00) cash
and the five sums of Ten Thousand Dollars
( 10,000.00) payable one (1) , two (2) , '
three (3) , fOur (4) and. five (5) years,
reepeotively,after forty (40) days from
this date, with interest thereon at six
per oent (6%) payable annually; that the
said' sum of Fifty Thousand Dollars
( 50,000.00) shall be secured by mort-
ages on said premises as follows:
Twenty Thousand Dollars ( 20 ,000.00) on
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Lots One (1) , Two 2) - and Three (3) ; Ten
Thousand Dollars ( i0,000.00) on Lots
Four (4) and. '., ive " 5) ; and Twenty Thou-
sand Dollars ( 20,000.00) on Lots
(6) , Oeven (7) and sight (s) .
Each of said amounts shall he divided
into fits equal payments, payable one (1) ,
two (2) 1 three (3) , four (4) and five (5)
years, respectively, after forty (40) days
from this date, and rith interest as above
set forth.
It is further agreed ana understood that said
property is to be conveyed free and clear of all liens
and. encualbrances except taxes for the current year,
which are to be pro-rated. as of forty (40) days from
this date.
It is further expressly agreed and understood
that this contract shall be made and entered into sub-
ject to all requirements and provisions of 3eotion
Twenty-six (26) of the City Charter of the City of laiami
Beach, Florida, as amended in 1925. All of the perti-
nent provisions thereof be hereby aade a. part of this
contract as fully and to all intents and purposes as
though the saae had been fully copied into this con-
tract , and should this contract on account of any of
the provisions of said ':;eotion Minty-six (26) be ren-
dered. impossible of perforMance , then and in that event
said contract shall be thenceforth null and void , and
of no further force or binding effect upon said second
party.
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This transaction shall be closed within five (5)
days after the City Council shall have acquired full
authority so to do.
I "ITr7511 !H . OF the narties hereto have sub-
scribed their na,aes and affixed their seels the day
and year above 7ritten.
JOHN B. REID & COMPANY, INC. ,
itnesses: as authorized Agent, First Party.
••••• •• By
President
CITY OF MIAL1 BEACH, YLCRIDA, A
Municipal Corporation, Jecond Party.
By
-MAYOR
ATTZST:
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