RESOLUTION 88-19337 RESOLUTION NO. 88-19337
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA
AUTHORIZING THE MAYOR TO EXECUTE A
CONTRACT OF SALE WITH OREN DEVELOPMENT
CORPORATION FOR PROPERTIES LOCATED AT
3516-20 COLLINS AVENUE AND 3602 COLLINS
AVENUE AND FURTHER AUTHORIZING THE MAYOR
TO EXECUTE ANY AND ALL DOCUMENTS
NECESSARY TO CARRY OUT THE CLOSING OF THE
SALE.
WHEREAS, the City of Miami Beach is the Owner of the
following described properties; and
PARCEL A
LOTS 12 , 13 AND 14 , BLOCK 24, AMENDED
MAP, OCEANFRONT PROPERTY, MIAMI BEACH
IMPROVEMENT COMPANY SUBDIVISION ,
ACCORDING TO THE PLAT THEREOF, AS
RECORDED IN PLAT BOOK 5, PAGES 7-8,
PUBLIC RECORDS OF DADE COUNTY, FLORIDA.
(ALSO KNOWN AS 3516-20 COLLINS AVENUE)
PARCEL B
LOTS 10, 11 AND 15, BLOCK 26, AMENDED
MAP, OCEANFRONT PROPERTY, MIAMI BEACH
IMPROVEMENT COMPANY SUBDIVISION ,
ACCORDING TO THE PLAT THEREOF, AS
RECORDED IN PLAT BOOK 5, PAGES 7-8 ,
PUBLIC RECORDS OF DADE COUNTY, FLORIDA.
(ALSO KNOWN AS 3602 COT LINS AVENUE)
WHEREAS, on or about March 21, 1988 the City issued Request
for Proposal No. 63-87/88 , requesting proposals from interested
parties to purchase the above described properties; and
WHEREAS, on or about May 4 , 1988 , Oren Development
Corporation filed a proposal with the City for the above
described properties offering to purchase the properties for a
sum of $535, 000; and
WHEREAS, on June 1, 1988 the City Commission authorized the
administration to prepare a Contract of Sale for the above
described properties; and
WHEREAS, a Contract of Sale (a copy of which is attached
hereto) , has been negotiated between the parties and has been
recommended by the City Manager and has been approved to form by
the City Attorney; and
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor is hereby
authorized to execute on behalf of the City of Miami Beach a
Contract of Sale with Oren Development Corporation for properties
located at 3516-20 Collins Avenue and 3602 Collins Avenue for a
total purchase price of $535, 000, and further, the Mayor is
authorized to execute any and all documents necessary to carry
out the closing of the properties.
PASSED AND ADOPTED this 7th day of September , 1988 .
�--
kYOR
ATTEST:
feibelh,/
CITY CLERK
FORM APPROVED:
LEGAL DEPARTMENT
DATE: g R
PNB/mml
8/15/88
CONTRACT OF SALE
THIS AGREEMENT made and entered into this 12 day of
September , 1988, between the CITY OF MIAMI BEACH, a Florida
municipal corporation, hereinafter described as the Seller, and
OREN DEVELOPMENT CORPORATION, ("Oren") , a Florida Corporation
hereinafter described as the Purchaser.
WITNESSETH
1. That the Seller agrees - to sell and convey and the
purchaser agrees to purchase all the certain plots, pieces or
parcels of land, with the buildings and improvements erected,
situate and -lying on the following described property located in
Miami Beach, Dade County, Florida:
PARCEL A
LOTS 12 , 13 AND 14 , BLOCK 24, AMENDED MAP, OCEANFRONT PROPERTY,
MIAMI BEACH IMPROVEMENT COMPANY SUBDIVISION, ACCORDING TO THE
PLAT THEREOF, AS RECORDED IN PLAT BOOK 5, PAGES 7-8, PUBLIC
RECORDS OF DADE COUNTY, FLORIDA.
PARCEL B
LOTS 10, 11 AND 15, BLOCK 26, AMENDED MAP, OCEANFRONT PROPERTY,
MIAMI BEACH IMPROVEMENT COMPANY SUBDIVISION, ACCORDING TO THE
PLAT THEREOF, AS RECORDED IN PLAT BOOK 5, PAGES 7-8, PUBLI C
RECORDS OF DADE COUNTY, FLORIDA.
2 . The total purchase price for the above referenced
properties shall be Five Hundred Thirty Five Thousand and 00/100
(C:535, 000. 00) U.S. Dollars payable in cash or bank certified or
cashiers check at the time of closing.
3 . Conveyance of title shall , be by statutory warranty
deed, free and clear of all encumbrances and liens of whatsoever
nature, except easements, reservations, and restrictions of
record, applicable zoning regulations, taxes for current year,
any liens which may be created by pending legislation prior to
passage of title, and other such matters as are specified herein.
4 . The seller shall at its expense furnish purchaser with
an abstract of title within forty-five (45) days from the date of
this contract. In the event that after Purchaser has examined
the title and said examination reveals defects in Seller' s title,
Seller shall have a period of thirty (30) days after notification
thereof within which to cure said defects. Closing shall take
place on or before September 30, 1988.
5. If applicable, seller shall pay for documentary stamps
on the deed and any surtax. Purchaser shall pay for recording
the deed.
6. As part of the total consideration for this sale
Purchaser shall furnish two irrevocable letters of credit, one
for Parcel A and the other for Parcel B, each in the amount of
$75, 000. 00, in favor of the City of Miami Beach, five (5) days
prior to closing. The letter of credit in favor of Parcel A
shall be drawn upon in the event that Oren transfers, sells or
conveys any or all interests in Parcel A prior to the issuance of
a building permit except for a transfer to a general or limited
partnership formed to develop Parcel A, where Oren is a general
1
partner with a controlling interest in the partnership and/or a
building permit to construct a 24 unit apartment building is not
issued and construction commenced and in active progress as
defined in Section 304 . 3 (f) of the South Florida Building Code
(1984) within two (2) years from the date of closing. The letter
of credit in favor of Parcel B shall be drawn upon in the event
that 1) Oren Development Corporation transfers, sells or conveys
any or all interests in Parcel B prior to the issuance of a
building permit except for a transfer to a general or limited
partnership formed to develop Parcel B, where Oren Development
Corporation is a general partner with a controlling interest in
the partnership; or 2) Oren does not complete demolition of the
structures on Parcel B within three (3) months from the date of
closing; or 3) a building permit to construct a 24 unit apartment
building is not issued and construction commenced and in active
progress as defined in Section 304 . 3 (f) of the South Florida
Building Code (1984) within six (6) months from the date of
closing. Purchaser covenants and agrees to execute the agreement
attached hereto as "Exhibit A" at closing and agrees that said
agreement shall survive the closing.
7 . Failure of Purchaser to timely conform to any term or
Agreement and
terms of this Agreement shall be a default of this A g
shall allow the Seller to pursue any and all legal, equitable and
administrative remedies it has available to it.
8 . In the event of default _on the part of either party
hereto in consummating this contract, then the defaulting party
agrees to pay all costs and expenses incurred by the innocent
partyin enforcing the innocent party' s rights hereunder
including reasonable attorney' s fees.
9 . Time shall be of the essence.
10. This contract including Exhibit A constitutes the
entire agreement between the parties, and any changes, amendments
g
or modifications hereof shall be void unless the same are reduced
to writing and signed by the parties hereto.
ATTEST:
-fil"--je )7/t r Seller400r/ OF ,
i/f (SEAL)
CITY OF IAMI BEACH
CITY CLERK
We agree to purchase the above described property on the
terms and conditions stated in the foregoing instrument.
Witn sses as to 'ignature of Buyer:
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/(-) \‘ f
Y
/, \7 , Buyer (SEAL)
i
jcci ON DEVELOPMENT COMPANY
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FORM APPROVED
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ORIGINAL
RESOLUTION NO. 88-19337
(Authorizing the Mayor to execute a con-
tract of Sale with Oren Development Corp.
for properties located at 3516-20 Collins
Avenue and 3602 Collins Avenue and further
authorizing the Mayor to execute any and
all documents necessary to carry out the
closing of the sale)