151-94 RDA
RESOLUTION NO.
151-94
A RESOLUTION OF THE MIAMI BEACH REDEVELOPMENT
AGENCY ACCEPTING AN ASSIGNMENT AND ASSUMPTION
AGREEMENT WHEREIN THE MIAMI BEACH
REDEVELOPMENT AGENCY WILL TAKE TITLE TO THAT
CERTAIN PROPERTY KNOWN AS THE SANDS-NEW YORKER
PROPERTY WHEN SAID PROPERTY IS PURCHASED BY
THE CITY OF MIAMI BEACH PURSUANT TO THAT
CERTAIN PURCHASE AND SALE AGREEMENT DATED THE
12TH DAY OF OCTOBER, 1993 WITH SANDS-NEW
YORKER LIMITED PARTNERSHIP, A FLORIDA LIMITED
PARTNERSHIP AS SELLER.
WHEREAS, the City of Miami Beach is the purchaser under that
certain Agreement for Purchase and Sale (the "Contract") executed
by it on the 12th day of October, 1993 with Sands-New Yorker
Limited Partnership, a Florida limited partnership as Seller to
purchase that certain property known as the Sands-New Yorker
property, the legal description of which is set forth on Exhibit
"A" attached hereto and made a part hereof (the "Property"); and
WHEREAS, the City of Miami Beach has agreed to assign its
rights, duties and obligations under the Contract to the Miami
Beach Redevelopment Agency and the Assignee has agreed to accept
the assignment of the Contract and assume the obligations of the
Assignor thereunder; and
WHEREAS, by Resolution No. 93-20984, the City of Miami Beach
approved the assignment of the Contract to the Assignee with the
assignment effective at closing to allow the Miami Beach
Redevelopment Agency to directly acquire title to the Property from
the seller.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, that the Miami Beach
Redevelopment Agency hereby accepts the Assignment and Assumption
Agreement attached hereto and authorizes its Chairman and Secretary
to enter into and execute said Assignment and Assumption Agreement.
PASSED and ADOPTED this 19th
January
ATTEST:
(.~~ <;2 ~
SECRETP..RY
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C:RESOLUTI\redevel.age
By
ASSIGNMENT AND ASSUMPTION AGREEMENT
This Assignment and Assumption Agreement ("Assignment") is
made and entered into by and between City of Miami Beach, a Florida
municipal corporation (hereinafter referred to as "Assignor") and
Miami Beach Redevelopment Agency, a public agency pursuant to
Chapter 163, Florida statutes (hereinafter referred to as
"Assignee").
WHEREAS, the Assignor is the purchaser under that certain
Agreement for Purchase and Sale (the "Contract") executed by it on
the 12th day of October, 1993 with Sands-New Yorker Limited
Partnership, a Florida limited partnership as Seller to purchase
that certain property known as the Sands-New Yorker property, the
legal description of which is set forth on Exhibit "A" attached
hereto and made a part hereof (the "Property"); and
WHEREAS, the Assignor has agreed to assign its rights, duties
and obligations under the Contract to the Assignee and the Assignee
has agreed to accept the assignment of the Contract and assume the
obligations of the Assignor thereunder; and
WHEREAS, by Resolution No. 93-20984, the City of Miami Beach
approved the assignment of the Contract to the Assignee with the
assignment effective at closing to allow the Miami Beach
Redevelopment Agency to directly acquire title to the Property from
the Seller.
NOW, THEREFORB in consideration of the covenants and
agreements herein set forth and other good and lawful
consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto, intending to be legally bound
agree as follows:
1. All matters set forth in the whereas clauses to this
Assignment are true and correct.
2. Assignor hereby assigns all of its right, title and
interest in and to the Contract to the Assignee.
3. Assignee hereby assumes all rights and responsibilities
of the Assignor under the Contract.
IN WITNESS WHEREOF, the parties hereto have caused these
presents to be executed in th~names and pursuant to the authority
duly vested in them, this ~ day of January, 1994.
By:
BEACH REDEVELOPMENT
a pub 0' agency
to C p er 163,
Statute.
~~J ~~~
Clerk
FORM APPROVED
By~~e~~
Date */17"
-
RE\12937\0006\MDSKJGOI.IOA
940111
Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305) 673-7772
RBDBVBLOPMBIIT AGBNCY MBJIORANDOK )fO.
94-03
January 19, 1994
From:
Chairman and Members of the Board
of the Redevelopment Agency
Laurence Feingold ' l) v:? 4
General Counsel ~~ ~
To:
SUBJECT:
HOUSBKEBPING ITBM ON SANDS-NEW YORKER PROPBRTY
Because of a legal technicality, it is recommended that the
Redevelopment Agency should undertake formal acceptance of the
Sands-New Yorker Property assignment previously approved by
Resolution No. 93-20984 wherein the City commission of the City of
Miami Beach approved the assignment of the contract to the
Redevelopment Agency. It is necessary for the Redevelopment
Agency to now officially accept the assignment by executing the
attached Assignment and Assumption Agreement.
LF/yrn
Attachment
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