Reso 2015-2404 - Laserfiche WebLink

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c l ,. 'r SETTLEMENT AGREEMENT THIS SETTLEMENT AGREEMENT ("Agreement") is made and entered into this /b day of M/!-R CH, 2015 by and between ELENA FORDJOUR, individually and as TRUSTEE OF THE ELENA FORDJOUR REVOCABLE LIVING TRUST, dated June 2, 2014 ("Unit Owner") and THE CITY OF SUNNY ISLES BEACH, FLORIDA, a municipal corporation organized under the laws of the State of Florida("City"). WITNESSETH: WHEREAS, Unit Owner is the owner of the condominium unit#814 in Building 1 of the Plaza of the Americas with an address of 16909 North Bay Road, #814, Sunny Isles Beach, FL 33160. WHEREAS, the City seeks to acquire the fee simple title and interest in the Property, which is legally described on Exhibit A attached hereto, for its Pedestrian Overpass Bridge for the Gateway Park("Project"); WHEREAS, the City, by adoption of Resolution 2014-2199 has authorized the use of its eminent domain powers to acquire the Property and has initiated the process to condemn the Property, pursuant to Chapter 73, Florida Statutes; WHEREAS, the City provided notice to the Unit Owner pursuant to Section 73.073, Florida Statutes, and Unit Owner timely responded and objected to the proposed taking and/or the appraised value of the Property; WHEREAS, under the threat of condemnation, the Unit Owner and Purchaser desire to resolve the Unit Owner's objections and claims for compensation, as set forth below. NOW, THEREFORE, in consideration of the foregoing, the mutual covenants contained herein, and the sum of TEN AND NO/100 DOLLARS ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, do hereby agree as follows: 1. Recitals. The recitals set forth above are true and correct. 2. Compensation. Unit Owner shall have and recover from the City the sum of TEN THOUSAND TWO HUNDRED FIFTY DOLLARS (10,250.00) in full settlement of the Unit Owner's objections to the Purchaser's proposed taking of the Property and the appraised value of the Property and in full settlement of all claims for compensation by Unit Owner arising from the taking and/or acquisition of the Property, including severance damages to the condominium unit owned by the Unit Owner, attorney's fees, and costs. 3. Unit Owner's Interest. In exchange for receipt of the compensation set forth in Paragraph I above, the Unit Owner conveys all interest it has in the Property by virtue of its t EXHIBIT "B"