HomeMy WebLinkAboutR-84-0865J-84-582
6/20/84
RESOLUTION NO.
A RESOLUTION APPROVING AN ASSIGNMENT, IN A
FORM ACCEPTABLE TO VIE CTTV ATTORNEY, OF THE
LEASE FOR "PTIF, CONSTRUCTTOT,111 ANT') 0171F,11ATION OF
THE WORT,D TRADE Ct'JJTT'R DADR t_,AVTTIGS AND
LOAN ASSOCT -1_ RE,7\T,-TY AND
AT TON TO
CONSTRUCTION "'0r1PT\N_V1 A VvTIOW,Y-OWIPIED SUB-
SIDIARY OF DADS, 11-1AVINGS AND LOAN A.'3SOCIATTON.
WHEREAS, Dade Savings and Loan Association ("DADE") and the
City of Miami entered into a Lense Agreement dated July 1, 1980
for the construcLion and operat-icln of a trade center office
building (World Trade Ccntr�r) using air right,,-, above the Con-
vention Conter 1-1,7rk-ing and
WHERFIAS, 1,J)c [Ioa'C A(I'LCICITte tit provides for assignment by Dade
to a corporatic)ii cont'i--olled by 1)(ade- and further provides that the
assignment ir, ru1_-)jcct to approval by the City; and
WHEREAS, for reasons of business considerations and funding,
Dade Savings and Loan Association has requested the approval by
the City of the assignment of the Lease Agreement to CenTrust
Realty and Construction Company, a wholly owned subsidiary of
Dade; and
WHEREAS, the City Manager recommends that said assignment to
CenTrust Realty and Construction Company be approved;
NOW, THEREFORE, 13E IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, Fl_:ORIDA:
section 1. The Assignment of Lease dated March 2, 1984
from Dade Sl--Xvingoo and Loin A:3socizition to CenTrust Realty and
subs-idiary of D&de Savings
Cons truct ion Company, a wholl,, I
and Lo&n of zil 1 -�, iql)t, �0_0_j intert,:-.,�t of Dade
Savings and 1,oan Ls.,_ocii-_tion in and t-c) the Lqc(_k:�iiient dated
July 1, 19LU 1..;etween the City of bi,d D&oe an()-' Loan
Association for the construction and operatiGji of the t%Iorld Trade
Center, is hereby approved, said at;,siqninttnt documents to be jr, a
form acceptable to the City Pttorney.
CITY Cot,-ji,j
IMUE,TINIG OF
Jut. 31 19.54
RES0LL'j!j,.,_ 84-8G'Ay
0*4
PASSED AND ADOPTED this 3_ day of ._"I_y___r__ , 1984.
Maurice A. Ferre
ATTEST: MAURICE A. F RRE
MAYOR
RA ONGIE
CITY CLERK
PREPARED AND APPROVED BY:
G. MIRIAM r4At'.I;
ASSISTANU CITY ATTORNEY
APPROVED 7% TO VORM AND CORRECTNESS t
-tee
SL GAkCIA--1. i)ROSA
CITY ATTOW ,Y
GMMI/wPc/ab/286
-C� Howard V. Gary
City Manage
FRoMan i ; Porn s
Project Director
Conference Center
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
DATE:
SUBJECT
June 19, 1984 FILE:
Resolution Approving the
Assignment of Le -ace on
the World Trade Center
REFERENCES.
For Comm. ,Meeting of 6/28/84
ENCLOSURES.
A Resolution Approving the
Assignment, in �a i'orm 'acceptable
to the City A'Gtornc, , of the
Lease for the ('.,)n,-ztruction and
Operation of t;hr. �rlc ra�ae
Center from. D,,i � _�_;1_FY _nd
Loan A:- o c ,:,t -_� c t C 11 'rust
eal t� nd r ,n r:ompany
a who-h;, o roc i ,} y of Dade
The City and Dade Savings and. Loan Association entered into a Lease
Agreement dated as of July 1, 1980, for the construction and
operation of a trade center office building ("Sf'orld Trade Center")
in the air r"Lghts above the Convention Center Parking Garage. Since
early thf.s year, I;;ade Savings has been requesting the assi nment of
the leare for reUsons of business considerations and fun(! nv to
CenTrust Rc alt,y arid, Construction Company, a wholly owre(I" :;ubsidiary
of Jade :'av:ir,�s.
The original request was not acceptable to the City Attarney's
office. Since that time, the differences have been rr:solved and the
City is fully protected under the assignment.
Enclosed cop,✓ of their request and the attached "Assignment of
Lease" which is E cee:ptable to the City Attorney <�nd to the:.
Administratirm. J^�ssi .nr ent of the ;.east requires the
consent of tile City ar11ci atUached is a Resclution for presentation to
the City for it;, i:pprcvsi
cc: Jose Garcia: -Pedrosa, City Attorney, ;tit%encl
G. Miriam. 11aer, Asst. City Attorney, w/encl
Vincent Grimm, Con ;ultant, i/encl
Ark
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KATHLCrN
March 61 1984
o
tfNOA ANN WELLS
6 AD"ITTED IN TEXAS ONLY
Mr. Howard
Gary
City Manager
City 11,11
Dinner Key
Miami, FL
33133
Re: Miami World Trade Center Tower
Dear Mr. Gary:
Business
considerations, as
well
as internal
control
of
funding, a,t.
Dade Savings and
Loan
Association ("Dade")
has
made it priidont that Dad(" tran`-tfer
its Lease of airspace
for
the Mia,,r-d
C(,T-A,,cr
Tower
to CenTrust
Realty
and
;1.
subsidiary of,
Dade.
We
enclo,'i.c?
r
C c p (",.I-
P1 rlCltc-
t he
provisio,-n--. of Scctlion.,-; 3-2 of the Assign,�Ic-
ANo rcco(pni--c th--lL the Assignment -lieu! U have been
==E? approved by the City in advance, but thc t would ha%�e- meant
a delay in recording the Notice of Commencement and the start
of construction.
On behalf
presented to the
Commission will
we have, but the
were critical.
GE: sac
11276-015
Enclosure
of Dade,
cc,luilission
understand
Assignment
cc: Mr. Vincent Grimm
Mr. Allan Poms
Miriam maer, Esq.
Mr. David Paul
Mr. Edward L, Abbott
Bernard Jacobson, Esq.
Martin Fine, Esq.
we ask that the Assignment be
for its approval. 11c trust the
the need for ou-- -proceeding as
and the timing 1--C--)1-, it.2 recording
Ily' /Very ou r-,
Gage Essne-
84-865
ASSIGNMENT OF LEASE
i. PARTIES.
The parties to this Assignment of Lease are:
1.1 DADE SAVINGS AND LOAN ASSOCIATION, a
rlorida corporation, (Assignor); and
1.2 CYenTro t RT:,'yI,T Y AND CONSTRUCTION COMPANY, a
Florida corporation,
2 SUU,TFCT L'IA 71`"?.
l ss .ar).or. is the owner and holder of the
tenant's interest und(- .. t ial:, certrai.n Lease Agreement dated July
1F 1980 betwe-ctl the City Of Miami, as Lessor and the Assignor,
as Lesser, rccorded in Official Records Dook 10820 at Page 1289
of the Public Rccord.f; of Ua(Io Count} Florida (t-he, t$ea se) ,
r
a 1 ,C S t o sell
t:o sass ignee and
Assignce agrccs to
t-°urchasc
from Assignor all
of the Assignor's
right, title and
A,nt ,^ro r, t
i_n and to said
Lease, subject,
however, to al.l of
the term:.,
and conditions of
this Assignment.
3. AS ST(-NMEP7`?T.
3.1 For value received, Assignor does hereby
assign, transfer and se` over unto Assignee all right, title
and interest of ttie Assignor in and to the Lease described in
Section 2.1 and the Assignee agrees to perform all of the
obligations of the Lease required to be performed under the
Lease.
3.2 This Assignir,ent is effective as of March 1,
1984 and is subject to approval by the Lessor.
3.3 14otwithstanding this Assignment, the
Assignor shall remain full% bound to the Lessor with respect to
the obligations of the Lease to be performed by the Lessee.
4. WARRANTIES.
The Assignor represents and warrants to the
Assignee that:
4.1 The recitations contained in Section 2.1
are true.
4.2 The Lease is good and current standing as
to performance of the Lessor and Lessee.
4.3 And the Assignor fully warrants to the
Assignee the Assignor's title in the Lease.
ASSIGNOR:
Attest: Dade Savings and Loan Association.
By By:
Secretary x cu ive ice ]?resident
This Instrument Prepared By:
GENE ESSNER Altolney
Fine, .Jacot)son, WCiak.
Klein. Colin & wrnon, P.A.
2401 DouLiui hoid
P. 0. buk a406W
Mianm, VL : �246
-8G
•�el�
Attest:
BY: Secretary
ASSIGNEE:
CenTrust Realty and
Construction Company
r/. f �
By: ke- President
STATE OF FLORIDA
COUNTY OF DADS
ed
The foregoing instrument was acknodg
Joeel D. Ware ore me
this2nd c.3ay od f march, 1984 by ecre aryand r
taaa�� L. Abbott as Exec. Vase Presan
��� a Florida
respecI. vPJ.y of UADE SAVINGS At7 DAN ASSOCZATI0t1,
corporation far. the purposes therein expressed on t�eha].£ of the
corporation.
Notary Public
My Commission Expires: h•,t`J.;..�ss����,•`r^"V�,..r,,,.����
6Gi •J:J i nn.i Gacnn� i h5 ,
STATE OF FLORIDA
COUNTY OF DADE
The foregoing instrument was acknowledged Lbefore me
2nd day of March, 1984 by
this as Vice President '
of CenTrust REALTY AND CONSTRUCTION COtdPAN Y, a
respectively ur oses therein expressed on
Florida corporation for the p p
behalf of the corporation.
Notary Public" L
My Commission Expires:
—86!845,