Purchase Sale Agrmnt - 19142 Collins Ave

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Parcel Folio No. 31-2202-009-0020 (Miami -Dade County). PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT ("Agreement") is made this_ day of June 2025, between 19142 COLLINS AVE SIB LLC, a Florida limited liability company, whose mailing address is 2420 NE Miami Gardens Drive, Suite 401, Miami, Florida 33180 ("Seller"), and the CITY OF SUNNY ISLES BEACH, FLORIDA, a Florida municipal corporation, through its City Commission, with an address at 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 ("Purchaser" or "City"). For and in consideration of Ten and No/100ths Dollars ($10.00), the purchase price and the mutual covenants and conditions contained herein, and for other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 1. AGREEMENT TO SELL AND CONVEY. (A) Seller agrees to sell and convey to Purchaser, and Purchaser agrees to buy from Seller, subject to the terms and conditions hereinafter set forth, all of Seller's rights, title, and interest in and to the real property located in Miami -Dade County, Florida, at 19142 Collins Avenue, Sunny Isles Beach, Florida 33160, described in Exhibit "A," together with all improvements, easements and appurtenances ("Property"), which may also be identified by Parcel Folio Number 31-2202-009-0020, as assigned by the Miami - Dade Property Appraiser, in accordance with the provisions of this Agreement. (B) The City Commission's representative in all matters shall be the Sunny Isles Beach City Manager, Stan Morris (the "City"). (C) There shall be no deposit required with the execution of this Agreement by the City Manager. Upon the approval of this Agreement by the City Commission in accordance with paragraph 2(A), the City shall pay a deposit in the amount of Fifty Thousand Dollars and No Cents ($50,000.00) within 10 days of such City Commission approval, which shall be held in escrow in accordance with paragraph 14. All deposits shall be fully refundable in accordance with the terms of this Agreement. (D) Seller warrants to the best of Seller's knowledge that there are no private or governmental actions, suits, proceedings, or investigations pending against Seller or the Property which could have an adverse effect on the Property. 2. CONTINGENCIES. (A) The enforceability of this Agreement against the Purchaser is wholly contingent upon the approval of this Agreement by the City Commission and execution by the Mayor evidencing such approval after a properly noticed public hearing, as mandated by Chapter 166.045, Florida Statutes. '` 1 Purchaser V15Seller 329