Consent to Assignment and Assumption - MDC Surtax Agreement • �2 -/Y
CONSENT TO ASSIGNMENT AND ASSUMPTION
FROM MBCDC: THE LONDON LLC ("ASSIGNOR") TO THE CITY OF MIAMI
BEACH, FLORIDA ("ASSIGNEE") WITH RESPECT TO THE FY 2013
DOCUMENTARY SURTAX PROGRAM FUNDS, WHICH HAVE BEEN
APPROVED FOR USE BY ASSIGNOR BY MIAMI-DADE COUNTY BUT HAS
NOT CLOSED ("THE MDC SURTAX AGREEMENT")
T�his Consent to Assignment and Assumption ("Consent") is entered into this
/3 , day of N Q-0 611'- , 2014 ("Effective Date"), by and among
MBCDC: THE LONDON LLC, a Florida limited liability company ("Assignor"),
whose sole manager and member is Miami Beach Community Development
Corporation, Inc., a Florida not-for-profit corporation, and whose address is 945
Pennsylvania Avenue, Miami Beach, Florida 33139, and the CITY OF MIAMI
BEACH (the "City" or "Assignee"), a Florida Municipal Corporation, whose address is
1700 Convention Center Drive, Miami Beach, Florida 33139, with respect to that certain
FY 2013 Documentary Surtax Program Funds and/or County Home Loan ("The MDC
Surtax Agreement" or"Surtax Funds"), which Surtax Funds have been approved for use
by Assignor by Miami-Dade County ("County"), having an original application sum of
$800,000.00, in connection with the rehabilitation of property located at 1975
Washington Avenue, Miami Beach, FL ("Restoration Project"), but which funding has not
closed. Assignee, at its sole option, may wish to assume The MDC Surtax Agreement,
in connection with the completion of the Restoration Project and, as such, will require the
cooperation of Assignor in connection with the execution of any necessary documents to
complete the closing of these Surtax Funds, including, but not limited to securing the
County's consent to this proposed assignment and executing an assignment of said
Surtax Funds to the City.
NOW, THEREFORE, the Assignor and the City, for and in consideration of the
mutual covenants, agreements and undertakings herein contained, the receipt and
sufficiency of which are hereby acknowledged, do by these presents mutually covenant
and ,
a ree as follows:
agree,
1. Assignor hereby consents to the assignment of The MDC Surtax
Agreement and assumption by the City of The MDC Surtax Agreement
("Assignment and Assumption"), subject only to approval of the proposed
Assignment to Assignee by the Board of County Commissioners of Miami-
Dade County, Florida.
2. Assignor further agrees to cooperate with the City and the County, in
connection with any and all documents required in order to obtain the
County's consent to and to effectuate this Assignment and Assumption of
The MDC Surtax Agreement.
3. Upon approval of the proposed Assignment and Assumption by the
County, and execution by the parties of this Consent, Assignee hereby
further agrees to be bound by the terms and conditions of the The MDC
Surtax Agreement.
4. Should it become necessary for either party to enforce this Consent, the
other party shall be responsible for any and all reasonable costs and
reasonable attorney's fees incurred by the enforcing party.
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Consent to Assignment and Assumption
MBCDC: The London LLC to the City
IN WITNESS WHEREOF, the parties hereto have caused this Assignment to be
executed by their appropriate officials, as of the date first entered above.
FOR ASSIGNOR:
ATTEST: MBCDC: THE LONDON LLC,
a Florida limited liability company
By: Miami Beach Community
Development Corporation, Inc.,
its sole member and manager
By: i Id
De is A. R ss, Assistant Secretary k Joh on, Chairman
FOR ASSIGNEE:
ATTEST: CI OF MIAMI EACH, FLORIDA
By: _ L
fael Granado J' y Mo ales
City Clerk -Ci y Manager
phh�_
APPROVED AS TO
{ FORM & LANGUAGE
INCOPP 0RATtue & FOR EXECUTION
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F:/RHCD/$ALL/ECON/$ALL/ASSET/GISELA/LODON HOUSE/CONSENT TO ASSIGNMENT FOR FY2009 CDBG
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