Promissory Note
;looo-Z3'17"z-
PROMISSORY NOTE
$105,000.00
Miami Beach, Florida
July 13, 2000
For Value Received, the Miami Beach Chamber of Commerce, Inc., a Florida
not-for-profit corporation ("Chamber"), with offices at 420 Lincoln Road, Suite 2-D, Miami
Beach, Florida 33139, promises to pay to the City of Miami Beach, a Florida municipal
corporation, at 1700 Convention Center Drive, Miami Beach, Florida 33139, the principal
sum of One Hundred Five Thousand Dollars ($105,000.00), constituting City of Miami
Beach parking impact fees for seven (7) parking spaces not provided, payable in lawful
money of the United States at the offices of the City in Miami Beach, Florida, or at such
other place as the holder hereof may designate in writing. In the event City determines
additional parking spaces are required, Chamber will pay associated parking impact fees at
time of certificate of occupancy, if such fees are required.
The Chamber waives demand, protest, notice of maturity or nonpayment and
all requirements necessary to hold it liable as the maker of this note. This Note is an absolute
obligation ofthe Chamber to pay the sums provided for herein. This Note will mature and
all sums obligated hereunder will be paid prior to the issuance of a temporary certificate of
occupancy on the Visitors Information Center that the Chamber proposes to construct.
The Chamber further agrees to pay all costs of collection, including a
reasonable attorney's fee, in case the principal of this note or any payment on the principal
or any interest thereon is not paid at the respective maturity thereof, or in case it becomes
necessary to protect the security hereof, whether suit be brought or not.
In the event of default, this note will bear interest at the rate of PRIME per
annum, shall be adjusted each month and shall be the PRIME rate as stated in The Wall
Street Journal on the first business day of the month, from maturity until paid.
This note is to be construed and enforced according to the laws of the State of
Florida. Upon default in the payment of principal and/or interest when due, the whole sum
of principal and interest remaining unpaid will, at the option of the holder, become
immediately due and payable.
This note may be prepaid in whole or part without a penalty.
Page lof2
In witness whereof, the Miami Beach Chamber ofCornmerce, Inc., has caused
this note to be executed by its duly authorized officers.
Attest:
STATE OF FLORIDA )
)
COUNTY OF MIAMI-DADE )
f> The foregoing instrument. was acknowledged. b~fore me by
L:;x:'..ru.Qd K. ScJ...WfL.<"T2.-, the Ck...'..-;ku........ , and "T@ ~ ec..hd<({, , the
V . ~- , respectively, of the Miami Beach Chamber of Commerce, Inc., on
behalf of the corporation. They ar personally known to me or have produced
~. , as identifica'
Witness my signature and official seal this ,~
. , 2000.
My Commission Expires:
~..,.y 'V'~ Bruce Singer -..
#J.W1 Notal)' Public, State of F1ori~
'\ ..# Commission No. CC 681024
~Or1\'" My Commission Exp. 12120/2001
APPROVED AS TO
FORM AND LANGUAGE
:J:tf1f&v~
TY ATTORNEY
7/S/~~o
. I
Date
F:\ATTO\HELG\PROJECTO\CHAMBER\PROMNOTO.WPD
Page 2 of2
Miami Beach Chamber of Commerc
420 Lincoln Road - Suite 2D
Miami Beach, FI. 33139
_. Ph ODE;;: (305L972-1270 FQx:S38__43~~
Memo
To: Gary Held, Esq
Assistant Oty Mcn:Iger
From: Bruce M. Singer, Pres/CEO
Date: July 13, 2000
CC: Gerald K. Schwartz, Chairman
Lawrence Levy, City Manager
Re: Promissory Note
Enclosed herein please find the original Promissory Note in the amount of
$105,000.
Let me also take this opportunity to thank you and the Administration for
your assistance in this matter. We look forward to exploring other funding
sources to offset this expense which is being assessed to the new Miami
Beach Visitor Information Center and Chamber offices.
Again, our thanks.
JM.wp.BU,Plom ole 10 Held