Ord. No. 26-86-1272ORDINANCE NO.26-86-1272
AN ORDINANCE OF THE CITY OF SOUTH MIAMI,FLORIDA,
AUTHORIZING THE ACTING CITY MANAGER TO ENTER INTO
NEGOTIATIONS TO EXECUTE A SALES AGREEMENT WITH
LUIS R.SANTIERO,TRUSTEE AND/OR ASSIGNS,FOR THE
PURCHASE OF CITY OF SOUTH MIAMI INDUSTRIAL LAND,
ALL OR ANY PART OF A PORTION OF THE NW^OF SECTION
23-54-40E,6.2 CONTIGUOUS ACRES,M/L,LOCATED SOUTH
OF BIRD ROAD BETWEEN S.W.74TH AVENUE AND
S.W.75TH AVENUE,MIAMI,FLORIDA,LEGALLY DESCRIBED
HEREIN,FOR AN AMOUNT OF ONE MILLION FIVE HUNDRED
THIRTY-TWO THOUSAND,NINE HUNDRED FIFTY DOLLARS
OR $5.75 PER SQUARE FOOT ALL CASH AT CLOSING;10%
EANEST MONEY DEPOSITED IN CITY OF SOUTH MIAMI
ESCROW ACCOUNT NO.61-00607521-20.SECURITY FEDERAL
SAVINGS AND LOAN AS REQUIRED BY SOLICITATION FOR BIDS
DATED SEPTEMBER 28TH AND 29TH,1986;SAID CONTRACT
SUBJECT TO FINAL APPROVAL AS TO FORM AND CONTENT BY
THE CITY ATTORNEY,CITY OF SOUTH MIAMI,FLORIDA.
BE IT ORDAINED BY THE MAYOR AND THE CITY COMMISSION OF THE
CITY OF SOUTH MIAMI,FLORIDA:
Sect1on i-Tna*the Acting City Manager be and is hereby
authorized to enter into negotiations to execute a sales agreement with
Luis Santiero,Trustee and/or assigns,for the purchase of South Miami land
zoned IU-2,all or part of a portion of the HUh of Section 23-54-40E,6.2
contiguous acres,M/L,located south of Bird Road between S.W.74th and
S.W.75th Avenues,Miami,Florida,and legally described as:
A portion of the Northwest h of Section 23,Township 54 South Ranoe 40 *A<tandmoreparticularlydescribedasfollows:9 °st
Commence at the Southwest corner of the East h of the Southwest u *f tfc*Northwest k of said Section 23;thence run South 89 degrees 35 minutes
fL$r^/dSt,/l2n2 ^e S0uth 11ne of the Northwest of said Sect on 23foradistanceof25feet;thence run north 0 dearpt*1*L*l*\l *i*.
Tu&LWr WesVH•'™°"•*"•'ttfKStW?ko}\il ra&srLlirl11%fn0r,a d,st»«»of 275.00 feet to the point of beginning-thlnce
thenr^r,V^f.£h?nN2rthwest *of,sa,d Sect™23 for «distance of 213 43 feet-a p rz as 111%%:g:s:s usagj*s:ass ft li hj
•-
•
Section 2.All terms and conditions of the bids dated
September 28th,and 29th,1986,shall tea part of said agreement,including
but not limited to,a sale amount of $1,532,950.00 or $5.75 per square foot;
all cash at closing;10%earnest money deposited in City of South Miami-
Escrow Account No.61-00607521-20 located at Security Federal Savings and
Loan.
Section 3.The contract shall be subject to final approval
as to form and content by the City Attorney for the City of South Miami,
Florida.
PASSED AND ADOPTED this 16th day of December
ATTEST:
READANDAPPROVEDASTO FORM
CITY ATTORNEY
Passed on 1st Reading:12/02/86
Passed on 2nd Reading:12/16/86
Public Hearing:12/16/86
APPROVED:
-2-
,1986.
PURCHASE AGREEMENT
•niis PURCHASE AGREEMENT entered into as of;the 9th day of January,1987,by
and b*Iween the CITY OF SOUTH MIAMI,Florida,a municipal corporation,herein
after referred as "SELLER",and LUIS R.SANTEIRO,as Trustee,and/or assigns,
>£2420 S.W.27th.Avenue,Miami,Florida,hereinafter referred to as "BUYER",
WITNESSETH:
WHEREAS,SELLER owns fee simple title to 6.2+acres of real property located
*t approximately S.W.40th Street and 74th-75th Avenues,in Miami,Florida,
:nore i..«rticularly described in Exhibit "A"attached hereto and made a part
hereof (the "Property");
WHEREAS,SELLER has offered to sell the Property to the BUYER both upon the
^rius and conditions hereinafter set forth and pursuant to that certain "Request
I-
for Bids"dated September 30,1986,a copy of which is attached hereto and in
corporatedbythisreference.
NOW,THEREFORE,IN CONSIDERATION of the mutual premises,covenants and
agreements of the parties herein contained,it is agreed as follows:
3..The foregoing recitals are true and correct and are hereby incorporated
hereininfullbythisreference.•
2.-BUYER and SELLER agree that the purchase price for the Property will be
de ten-.lined by multiplying the total number o£i gross square feet in the Property
byFiveand 75/100 Dollars ($5.75)per square foot.-
PriortoclosingBUYERwillhavethePropertysurveyedandother l*nflg
contiguous toPropertyandownedbySELLERatBUYER'Ssolecostand expense.
BUYERwillinstructthesurveyortolocatethesouthernboundaryline of the
Property ifatallpossibleandwithout violating anyset-back lines,soas to
insure thatthe Property willhaveas close tb 270,072 square feetas possible,
but inall events nomorethan 271,422.36 square feetandnot less than 268,721.64,
.'.deviation ofnomore than plus or minus one-half ofone percent (.005).
The surveyor will also be directed to certify to both BUYERand SELLER
as to the exact gross square footage in the Property after setting the southerly
•.boundary line as aforesaid.The surveyor certpLfies that there are 271,200.665 gross
square feet within the Property,the purchase price willbeOne Million Five
Hundred Fifty Nine Thousand Four Hundred Three and 82/100 Dollars ($1,559,403.82).
3.-Payments shall be made in cash,cashier's or certified check only.The
termsofpaymentareas follows:
Bid Deposit $141,787.80
Deposit upon execution i
ofthisagreementbyboth
parties:$14,152.58
Balance at Closing:^1,403,463.44
Ai :interest on the above deposits from the date of such deposit to the date of
this Agreement shall accrue to BUYER.AJ1 interest on the above deposits from
the date hereof to the date of the closing shall accrue to BUYER.Deposits shall
be held by SELLER at Security Federal Savings and Loan Association in South Mia
mi ,account #61-00607521-20 City of South Miami Land Escrow Account.
4.-SELLER agrees to deliver a current Abstract to the Property to BUYER'S
attorney.In the event the title isnot marketalbe or insuralbe,theBUYER shall
within twenty-five (25)days of receipt of the Abstract notify SELLER specifying
the defects in title.Upon receipt of such notice of defects in title,SELLER
hasthe option of making saidtitlemarketableorinsurableand shall havenine
ty (90)dayssoto do.SELLERis required tomakereasonable .efforts.;to secure
marketable or insurable title butshallnot berequiredtobringanysuitsor
quiet actions todo so.Ifsaid title is not cured withinthe ninety days (90)
period,either party may,athis option,;be released from all obligations here
under toeach other,ortheBUYERmayaccept titleas is.Intheeventof cancel
lation of this Agreement the deposits will be returned toBUYERwith interest
typing disposedofas aforesaid.
5.-SELLERwill transfer title by special warranty deed.All certified
liens,if any,shall be paid in full by SELLER ator prior to closing.BUYER
agrees to accept title subject to zoning,restrictions and limitations of re
cordandas reflected inthe deed.Advalorem taxesfromthedateof .closing
and subsequent years on the property shaljl be the responsibility of BUYER.As
i.<;typical and customary in Dade County,[SELLER shall pay documentary stamps,
surtax,fees,surcharges,and costs of recording the deed mentioned in this
Agreement.
6.-This Agreement shall be signed by both parties on or before January
:?.-.rd,1987.Closing shall take place on or before March 15th,1987 or as the
date be extended by the provision of paregraph "4"of this Agreement,.
at atime and place as designated by the parties,if BUYER fails to perform
this Contract within the time specified,the deposit(s)paid by the HHER
,-resaid may be retained together with all interest thereon by or forthe
amount of SELLER as liquidated damaqej,consideration for the execution of
this Contract and in full settle***oi any claims,whereupon all parties
-ui be relieved of all obligations under the Contract;or SELLER,at its
iMo„,may proceed at law or in equity to enforce his legal right,under this
^ntract.If,for any reason other than failure of SELLER to render his title
stable or insurable after diligent effort,SELLER fails,neglects or re
fuses to perform this Contract,the BUYER nay receive the return of his de
fies,together with all interest thereon as and for liquidated damages,
operation for the execution of this [contract and in full settlement of
•>-V .Maims,wherein all parties shall |be relieved of all obligations here-
=--:^r,-or BUYER,at its option,may proc|eed at law or in equity to enforce its
legal rights Linder this Contract.
7.-The Property is being sold umpljatted and "as is",and SELLER shall
have no obligation to remove any building or material located in the property.
SELLER has asked BUYER to permit the SELOSR to renove selected plants and trees
from the Property at SELLER'S expense prior to closing.BUYER has agreed subject
to the following:no later than ten (10):days prior to closing SELLER will de
liver to BUYER a detailed list of plants and trees which ha would like to re-
n.-/e from the Property and a sketch showing the location of each plant and tree'
Within five (5)days thereafter BUYER will return the list and sketch marked
"Yes"of "No"next to each plant and tree.SELLER may thereafter,but in all
events prior to closing,remove those plants and trees marked "Yes".
8.-SELLER shall in no way be responsible for any finders or brokerage
fo-s or commission on the Property,and BUYER hereby agrees to indemnify,defend
and hold harmless the SELLER in the event any action or suit be brou^it regarding
any such fee of commission.In consideration of the foregoing indemnification,
SKLLER warrants that it has not dealt witjh any broker in connection with this
transaction.i
9.-BUYER agrees that all costs associated with the sale and purchase of
the Property,except for continuation of abstract,costs itemized in paragraph
"S",above and document preparation by the SELLER,shall be borne by BUYER.
10.-The deed will be recorded upon clearance of funds.BUYER will pay
the cost to record the deed;however if BtJYER pays balance with a cashier's
^
-s .
j
-*«*BUYER will be allowed to record jthe deed inmediately.
11-In connection with any action!or litigation including appellate
*:•*:eedings arising out of this Agreement,the prevailing party shall be
•Mtied to recover reasonable attorney's fees and costs.
1.2.-This Aqreement is assiqnable bv the BUYER.
J3.-it is :«xx,nized bv .«,„rwttes that time IS OF THE ESSENCE in the
i,rtY'':i:'"""""':;""','r th-'s Agreement.This Agreement
•<->'•«bind.nu uM,,both („,,,,s ,„,,,,,t |las ^^^^^partie^
Tus .Agreement represents the entire agreement between the parties.Any modi
fication must be in writing and executed by both parties.
IN WITNESS wh^df,the parties hereto have set their hands and seals
the day and year first above written.:
ATPESTI)
WITNESSTO BUYER
4±*S''y^A^^-
CITY OF SOUTk MIAMI,FLORIDA
a municipal corporation
^C^y\/^>x^s^
Perry ^Tjirner
Acting City Manager
As SELLER
WITNESS TO SELLER: