Reso 2008-1319 - Laserfiche WebLink

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10.Ri2ht of First Offer. Dezer Development shall be granted a right of first offer to purchase the Property in the amount of Seven Million Dollars ($7,000.000) in the event the City elects to sell the Property during the term of the Ground Lease. II.Walkway Over Collins Avenue. If permitted by Regulating Government Agencies, the City will work with Dezer Development to obtain air rights over Collins A venue to allow for the construction and maintenance of a walkway located over Collins A venue to connect the Trump International Hotel to the Project. If feasible, the walkway will provide the public with a means to cross Collins A venue without entering the hotel. Dezer Development is responsible for the designing, financing, and construction of the walkway. 12. Approval of the Citv Commission. This Letter of Intent and any contract between the parties are subject to the approval of the City Commission. This Letter of Intent is not intended to be a contract between the patties with respect to the Project. It is intended to facilitate discussion of the Project and is only an expression of the basis on which the parties would enter into a contract regarding the Project and the rights and obligations of the parties. The City requests Dezer Development's acknowledgement of this Letter ofIntent below in order that the City may proceed with Dezer Development to draft a Joint Development Agreement. Sincerely. Dezer Developmen hereby acknowledges receipt of the foregoing proposed general terms and conditions of a Joint Development Agreement between the parties pertaining to the Project and agrees that the next step is the drafting of the Joint Development Agreement agreeably between the parties providing for the development of the Project. <R DEVELOPMENT COMPANY: cc: The Honorable City Commission Hans Ottinot, City Attorney Warren Jay Stamm, Esq.