Agreement Boaziz Alden Hotel
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AGREEMENT
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THIS AGREEMENT is made as of this 0231LO day ofMme:h, 2W2, by and between
Mordechai Boaziz ("Boaziz") and the City of Miami Beach (the "City") (collectively, the "Parties"),
RECITALS:
WHEREAS, Mr, Mordechai Boaziz ("Boaziz") is the prospective owner (by virtue of a
Purchase and Sale Agreement) of the property known as the Alden Hotel located at 2925 Indian
Creek Drive which has accumulated liens in case numbers: JB980598; BV980547; JL950074;
JB00000850; BV00001023; JC990052; J98F0244; 98Fl1921; JOOF000088; F1000000437;
J01R000197, and F10100232; and
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WHEREAS, the City of Miami Beach ("City") and Boaziz have been negotiating the
settlement of the liens in the afore set forth cases; and
WHEREAS, the City has received an offer of payment of$30,512,20 by Boaziz to cover all
the City's hard costs associated with the closing of the Alden Hotel property and relocation of its
then residents; additionally Boaziz has offered to pay the sum of $20,000,00 in settlement of the
remaining liens which accrued in the above set forth cases totaling $476,578.54; and
WHEREAS, Boaziz has expressed his intent upon closing, to the City to renovate the entire
property with all new electrical, plumbing, air conditioning and to correct all violations noted in the
above cases; Boaziz warrants that he will spend no less than $500,000,00 to rehab the complete
building to enhance the seventy-six (76) unit facility which will improve the neighborhood,
WHEREAS, the Administration has reviewed Boaziz' offer, and has throughly reviewed
each ofthe lien files, Boaziz' Purchase and Sale Agreement, the present condition of the building and
its blite upon the neighborhood in its present condition, the present real property tax assessment
valuation for the reality and building and has reviewed the cost and time required to rehab the Alden
Hotel; the conditions and form of settlement have been discussed with the City Attorney and the
settlement if further conditioned upon approval of the City's Chief Special Master; therefore the
Administration recommended the proposed settlement, which is set forth in detail hereinbelow, as
being in the best interests of the City.
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NOW, THEREFORE, for Ten Dollars ($10.00), and for the covenants and conditions of
this Agreement, the receipt and sufficiency of which are hereby conclusively acknowledged, Boaziz
and the City agree as follows:
1, The recitals hereinabove are true and correct and are incorporated herein,
2. The Mayor and the City Commission have approved the settlement between Mordechai
Boaziz and the City of Miami Beach provided:
A. All necessary building permits to complete a total renovation of the Alden Hotel
property are obtained by May 1, 2002 and construction of said renovation shall
commence on or before June 1,2002; the project shall be completed by June 1,2003;
and
B. If the time schedule set forth above is met the City will not take any further
enforcement action on the lien cases described herein above; and
C. Upon final payment ofthe monies due: $50,517,20 under the terms ofthe January 25,
2002 settlement agreement and upon the issuance of the final inspection and issuance
of an Occupational License and Certificate of Use for 2925 Indian Creek Drive, the
City shall close all of the above referenced cases and release the above liens;
however,
D, If Boaziz fails to comply with any of the terms or conditions of the Settlement
Agreement and as set forth herein, the City shall be entitled, without prejudice to
immediately suspend the Occupational License ofthe above referenced business and
shall be entitled to collect the full amount for all liens in the above mentioned cases
(giving Boaziz credit for any monies which may have been paid) to with $476,578,54
and the City may pursue any and all of its claims and remedies of whatsoever nature
and the agreement of January 25,20002 shall be null and void.
E, Lastly the Agreement ofJanuary25, 2002 shall be subject also to the approval ofthe
Chief Special Master,
F, The lien mitigation shall be further conditioned upon the actual property closing
financial statement being substantially as represented to the City and as provided to
the Commission in draft form, and that the property purchaser shall provide the City
with an affidavit stating that the property closing financial statement represents the
entire financial transaction between the purchaser and seller ofthe property.
3. This Agreement has been jointly drafted by the Parties and their counsel. The terms of this
Agreement may not be construed against any party based upon a claim that the party or its
counsel was responsible for drafting this Agreement, in whole or in part,
4, This Agreement contains the entire agreement among the parties with respect to the
settlement of the Lawsuit, the Claim, the Invoices and the Assessment, and supersedes any
and all prior negotiations, promises, covenants, agreements or understandings among the
parties hereto to the subj ect matter hereof, Further, the parties agree that this Agreement may
not be amended or modified in any way, except by a written instrument signed by all parties
to the Agreement.
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5, The parties hereby acknowledge that they fully understand the terms ofthis Agreement; have
entered into same voluntarily; and have had the advice of counsel in so doing,
6, This Agreement may be executed in counterparts, with each counterpart being deemed an
original part ofthis Agreement.
7, This Agreement shall in all respects be construed in accordance with and governed by the
laws ofthe State of Florida, without regard to the principles of conflicts oflaw. Any action
or proceeding brought to enforce the provisions of this Agreement shall be brought in
Miami-Dade County, Florida,
8, If any provision contained in this Agreement is held void, voidable, invalid or unenforceable,
then said provision shall be deemed to be severed and removed from this Agreement and the
remainder of this Agreement shall remain in full force and effect as if said provision had
never been contained therein,
IN WITNESS WHEREOF, the parties have executed this Agreement as ofthe day and year
first written above,
Witness:
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-A~., "I"'~( Mordechai Boaziz
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Print name: She../,;"" A- - (l1Ae'"S
APPROVED AS TO
FORM & lANGUAGe
& FOR EXECUnON
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CITY OF MIAMI BEACH,
A Fl!a municipal corporation
By fl~~JaYO~{Q~
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Attest: . ~
City Clerk
Approved by Chief Special Master
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Ro~rt Ne~an
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