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RESOLUTION NO.
A Resolution of the Mayor and City Commission of the City of South Miami,
authorizing the City Manager to receive escrow monies from Larkin
Community Hospital relating to the construction of street closure
improvements on SW 70`h Street west of SW 62 Avenue; authorizing the City
Manager to hold such escrow monies from Larkin Community Hospital
subject to terms and conditions hereinafter set forth; and providing an
effective date.
WHEREAS, Larkin Community Hospital has a valid building permit for the renovation
of a single family house in to an office building at 6230 SW 70 Street; and
WHEREAS, the permit for the renovation includes the obligation that Larkin
Community Hospital make certain street closure improvements; and
WHEREAS, the renovation construction has been completed under the permit for the
renovation and is now in dire need for the issuance of a certificate of occupancy, but the street
closure improvements have not been completed; and
WHEREAS, Larkin Community Hospital has agreed that they will put up good and
sufficient bond with the City of South Miami for the issuance of the certificate of occupancy
before the completion of the street closure work.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA THAT:
Section l.: Larkin Community Hospital shall deposit a cash escrow with the City Manager in
the amount of seventy thousand dollars ($70,000.00). The condition for the return of the escrow
funds to Larkin Community Hospital is the completion of the street closure work to the
satisfaction of the City by December 21, 2010. Failure to complete the street closure
improvements required herein in the time specified shall cause the escrow funds of seventy
thousand dollars ($70,000.00) to be and the same shall become the property of the City as agreed
and liquidated damages. Receipt of $70,000.00 by the city Manager from Larkin Community
Hospital shall constitute full and complete agreement by Larkin Community Hospital with the
terms and conditions of this Resolution. Said escrow funds held by the City shall not accrue
interest.
Section 2: This resolution shall be effective immediately after the adoption hereof.
PASSED AND ADOPTED this_ day of , 2010
ATTEST: APPROVED:
CITY CLERK
MAYOR
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READ AND APPROVED AS TO FORM
AND SUFFICIENCY:
CITY ATTORNEY
Commission Vote:
Mayor Stoddard:
Vice Mayor Newman:
Commissioner Palmer:
Commissioner Beasley:
Commissioner Harris:
W:\Iviy Documents \resolutions\Resolution Larkin Hospital escrow.rev by ca.doc
Z: \Comm Items\2010\9- 21- 10\Larkin Hospital escrow resolution numbered.doc