RESOLUTION 89-19495 RESOLUTION NO. 89-19495
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH WAIVING THE JOINDER OF
MORTGAGEES IN THE UNITY OF TITLE AS REQUIRED
IN PARAGRAPH 3 OF THE EXCHANGE AGREEMENT
DATED NOVEMBER 4 , 1988 BETWEEN THE CITY OF
MIAMI BEACH AND 1035 COLLINS AVENUE INC. ,
1036 OCEAN DRIVE INC. , AND 1052 OCEAN DRIVE
INC. AND APPROPRIATING $55, 000 FROM CITY OF
MIAMI BEACH PARKING REVENUE BONDS SERIES 1988
INTO A WORK ORDER FOR THE IMPLEMENTATION OF
THE ABOVE PROJECT.
WHEREAS, the Exchange Agreement dated November 4 , 1988,
between City of Miami Beach and 1035 Collins Avenue Inc. , 1036
Ocean Drive Inc. , and 1052 Ocean Drive Inc. required in paragraph
3 thereof that the developer provide the City with joinder of the
mortgagees on the three properties on Ocean Drive; and
WHEREAS, the developer has represented to the City that it
is unable to obtain the joinder of the mortgagees and is
requesting a waiver of this requirement; and
WHEREAS, an appropriation in the amount of $55, 000 will be
required to implement the project.
NOW THEREFORE BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, that the joinder of mortgagees in
the Unity of Title as required in paragraph 3 of the Exchange
Agreement dated November 4, 1988 between the City of Miami Beach
and 1035 Collins Avenue inc. , 1036 Ocean Drive Inc. , and 1052
Ocean Drive Inc. is hereby waived and sum of $55, 000 is hereby
appropriated from City of Miami Beach Parking Revenue Bonds
Series 1988 into a work order to be established for the
implementation of the above project.
PASSED and ADOPTED this 4th day of January , 1989.
4( ..-411(lag#1
MAYOR
Attest:
FORM APPROVED
iir►
LEGAL DEPT.
City Clerk "�-
_
Date /VA(
PNB/rlw
ORIGINAL
RESOLUTION NO. 89-19495
(Waiving the joinder of Mortgagees in the
Unity of Title asrequired in paragraph 3
of the exchange agreement dated 11/4/88
between the City of Miami Beach and 1035
Collins Avenue Inc. , 1036 Ocean Drive, and
1052 Ocean Drive Inc. , and appropriating
$55,000 from City of Miami Beach parking
Revenue Bonds Series 1988 into a work
order for the implementation of the above
project)