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(B) Should the City Commission fail to approve this Agreement, this Agreement
<br />shall be null and void.
<br />(C) All states and timelines 'herein shall run from the date this Agreement is
<br />executed by the Mayor of the Sunny Isles Beach City Commission and Sellers, whichever
<br />is later (the "Effective Date").
<br />(D) This Agreement is exempt from the provisions ,of Section 115:07, Florida
<br />Statutes ("Public Records Act") until 30 days before this Agreement is considered for
<br />approval by the City Commission or 30 days after the termination of negotiations between
<br />the Parties hereto.
<br />(E) As a condition precedent to Closing, Sellers shall take all necessary legal
<br />steps to terminate any written or unwritten leases, easements, or claims of the same on
<br />the Property, no later than July 31, 2025, so as to provide Purchaser with full, exclusive,
<br />open, peaceful, and undisputed possession and ownership of the Property at Closing. If
<br />the Sellers are unable to satisfy this condition prior to the date established for Closing, as
<br />set forth in paragraph 7, Purchaser, at its sole option, may elect to terminate this
<br />Agreement, receive a refund of the Deposit, and neither party shall have any further
<br />obligations under this Agreement. Alternatively, the Purchaser and Sellers may agree to
<br />an adjustment of the Closing date.
<br />3. PURCHASE PRICE.
<br />(A) The purchase price for the Property is One Million Four Hundred Thousand
<br />Dollars and No Cents ($1,400,000.00) for the Property ("Purchase Price') which, after
<br />credit for any deposit, will be paid by the Purchaser to the Sellers at closing.
<br />(S) Sellers hereby authorize Purchaser to issue a City check or deliver cash for
<br />the Purchase Price directly to the Escrow Agent who is authorized by law to receive such
<br />payment, and who is acceptable to Purchaser, and to require the Escrow Agent to pay
<br />Sellers' expenses of sale and prorated real estate taxes. Kerry A. Parsons, Nabors, Giblin
<br />& Nickerson, P.A., 1500 Mahan Dr., Suite 200, Tallahassee, Florida 32308, shall serve
<br />as the Escrow Agent pursuant to this Agreement.
<br />4. FEASIBILITY AND SUITABILITY ANALYSIS. Within 30 -days ofthe Effective'Date
<br />of this Agreement, Purchaser, at its sole cost and expense, may conduct a feasibility and
<br />suitability analysis of the Property to determine, in Purchaser's sole discretion, whether
<br />the Property is suitable for -City purposes. If the Purchaser -determines the Property is not
<br />suitable for its use, the Purchaser may terminate this Agreement, have any deposit
<br />returned, and neither party shall have any further obligations under this Agreement.
<br />Purchasers feasibility and suitability analysis may include the following:
<br />(A) Environmental Site Assessment - Sellers shall provide to Purchaser any
<br />previous, current, or pending court actions or regulatory actions, environmental audit
<br />information, if any, and other such information regarding any potential hazardous soil or
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<br />Purchaser Sellers
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