Reso 2009-1478 - Laserfiche WebLink

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AGREEMENT OF PURCHASE AND SALE THIS AGRE~ENT OF PURCHASE AND SALE ("Agreement") is made and entered into this '3" day of August 2009 by and between PLAZA ISLE LLC ("Seller") and THE CITY OF SUNNY ISLES BEACH, FLORIDA, a body corporate and politic entity organized under the laws of the State of Florida ("Purchaser"). WIT N E SSE T H: WHEREAS, Seller is the fee simple owner of the Realty (hereinafter defined); and WHEREAS, Seller desires to sell the Property (hereinafter defined) to Purchaser, and Purchaser desires to purchase the Property from Seller, in accordance with and subject to the terms and conditions hereinafter set forth. NOW, THEREFORE, in consideration of the foregoing, the mutual covenants contained herein, and the sum of TEN AND NOli 00 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. Purchase and Sale; Realty. Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, all that certain parcel of real property, lying and being in the County of Miami-Dade ("County"), State of Florida, and of which the legal description is set forth in Exhibit "A" attached hereto and made a part hereof ("Realty") in fee simple, together with the following property and rights (the Realty and such property and rights are referred to herein collectively as, the "Property"): (a) All surveys, plans, plats, soi I tests. engineering studies, environmental studies and all other documents, studies, title policies, licenses, permits. authorizations, approvals, soil and ground water repol1s and asbestos material surveys to the extent any of the foregoing is in the possession of Seller, and any other intangible rights pertaining to the ownership and/or operation of the Realty, if any (collectively, the "Documents"); (b) All strips and gores of land lying adjacent to the Realty, together with all easements, privileges, riparian and other water rights. lands underlying any adjacent streets or roads, improvements located on the Realty and appurtenances pertaining to or accruing to the benefit of the Realty; and (c) All improvements thereon and all equipment and fixtures affixed to the property or the improvements to the property. 2. Deposit. Upon execution of this Agreement Purchaser shall deliver a deposit of FOUR HUNDRED FIFTY THOUSAND DOLLARS ($450,000.00) (hereinafter referred to as the "Deposit") with the Purchaser's Escrow Agent: The Deposit shall be deposited by Escrow Agent in an interest bearing account, and any interest accrued shal I be payable to Purchaser at Closing. The Deposit shall be credited against the Purchase Price at Closing, and shall be otherwise subject to the terms and conditions contained herein. Exhibit "A"