HomeMy WebLinkAboutExhibit 2•
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. Tips JoirrrrAxiiievATipil APaBMBNT.("Agipeuterft"). made this cifle day
of 190, by nd beuveen Marni-bade County ("COunfy"),: apoLItka1 tathdivialon of
the State- of Florida, actiffig. by and through lite Ccattibilierialler; with:the aPPiovil of the -beard .
biCountY CeinsOoners; MA the City of Mituni ("City"), A municipal corporal:1On or theState of
Florida, acting by and through the City Manager, with the approval of the. City Comnission,
RUCIT49,
INUEREAS, the Miami. -Dade County Board of County Comnasstoners has inchcatelt.n$
hitent. tO.Dirthcrlie Ite:-.0693.ttivPiPeterte en* for fc-$ctetiglii 108 Irclan0.41`49geo ("Loan") from
the U S bApaitnattit Of tiOntilitg. and VO. air 1.5.il,telOnient" Jukie end
Gardens .of Watson Wand, Inn_ ("parrot Aitigio in the amount of Twintr4hve-Mlifori.Vollars;
WItEREAS, such intent is subject to scvend conditions which directly impost the City of
wiituni;
IVY/ rif:firg0fittE, in otonsitlizi*ion ;of the foregoing, the . polity and the City tio'.
Itchy covenant and • agrc. to the subrniiiion..iir the County's Loan Opikiation, subject to the
-ibnowing-tr.Fht and corillitionSi'
A. The Coinfty..Loan shall bcprOVided..16 Parrot. Jungle in accord with Ae *brats
and - conditions of that- aatnin Seotion .1.08 application for the COunty Loan and such other
documenti and ibiii111610111 cvidnving a securing the County Loan (011eedvely the 'Loan
Pocuments"). The Ow stall substitute itself as a 'guarantor fbr eighty per cent. of the county:
Loan, :revanyt1ee4..ephr.ente6r), provided -the• following conditions precedent ("Conditions
" -
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•
. . .
. time as the Ourainteelikepigenrpt is to ovine; the•giate.of
FlOrida Financial Oversight Board Oveiseeing ibe City is dissolved ar fbur
(4y year has :elapsed .11-oto: the. date ofapproval by -HUD of the County
:Loan. application; whiefiever.13rst occurs; ' .
b. The City has- a total.CPBO Section 1.08 Loan capacity to subitituta
itself as n guarlintor,
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• r. The County Loan is current and no event nf. -default is in existence
under the County Loan at such time as the Guarantee Replacement OCClirS;-
And
• d. The Loan Documents have been properly assigned," endorsed, and
tnutsferred without recourse to the City anddelivered to the city by the
County, subject tit the continuing interest therein as a guarantor
of twenty per•rent (20%). of the County Loan.
Pursuant to the mutual understanding of the pfirties- hereto, the Loan DoeuMents shell
clearly set forth the Conditions Precedentand Ja1t specifi -that in the event all of. said Conditions
Precedent are not fully satished, the City shall not be • obligated to proceed• with the. tinartmtee,
.Replecernent.
• 2. Until tea tirnse as- the Guarantee ft.tpleCtnnent occurs, in the' event-Ormaneniop
riaelbulr) by 1111761 Jungle under the• terms of the County L�an the City's finandal
bhflation in-redueing the. amount -of sad Defatilt-thel be to pay toAlta County m proportknine
• amount of the amount, owed by Pairpt•Jungie ("Defisult•Paytnentl; bastgl 1ion thildneUhtritihri
,payments paid to. the city by Parrot Jungle ("tease Payment:el. LI S'it forth 11, dui' 'Ciislain •
tease; and Development Agreement between -the city of•lyharni, Florida, and •Perrot Jungle: and
bardens Inc.. &did SepteMber 2, 15)97 ('Le -se Agreement)), exclusive OM/Lefty); paymente, to
the Ste of Florida Iritetnal improvement Trust tundi, and the amount the County,ala taceUre
from Parrot Juilsle:tisithe Miami -Dade Zoo Avaly, ("City Peptic/ti): The Payment thaltbe
rraidecitOrn the eity!iceimirritOty DeVelopment Block Grant rinds and -only in the event the.debt
svktestry GYont establiShed for the County Loan•lias beendeisleted.
-3. 11t)t*ifkg:inntling.the. proviSionsto forth in Paragraph 2 .:herebf,-. the County.koan
}nU• be!iejepit5sly subeei and .suberdinete to all .eonditienatrid:covenants. oft& Lease Agkettnient
and to thvrighti of flit. Cky n.eonneetion with Perrot JUngles .development oithefreittt .1bnciwn
'Parrot Jungle & Gardens Of Watson Island."
Agreement constitutes the entire "agreement and understanding between the.
ilarat :with res0G1- 14? OP* ;41Ne.cf• -matter hareot aH pir negodatipins between the panierbelaii
*iviedado' this Are*r.111,and therentc nO.;proiiiiieN- Weritienai cOlditiOnsk undUlaiting*:
Yiarriiiniis opntiuiops,- oral or written, expeess, or. implit4Iveetween Or anie44hent- ether
than aaiet•fbrthhn.
change or modification of this Agreement shall be valid unless in writing 'anti .
signed by.the duly eulhorikcd"offleia/s of the Parties hereto-, No waiver of any of the provisions of
This Agreement shall be valid unless in writing and signed by the party against whom it is sought
•to be entbrced.
Parsnaid to that certain Parthil Modthestion of Restrictions io Med No. 19447 dated August 18, 997..-the City
is obligated to pay to the Slate of noricla Internal improvemmt Trilst Fund a portion or the Least Paynteriti.
LEK V/243.1-t1(.14iintA,B,irrnrilildoc-
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f :
7_ The State of Reticle has appointed an Eynergenv Vinanc5a1 Oversig,ht .Board (the
()versight Bciattrf'Which is Onpowere4 to review and appi:OtpsU pending : City cOritta$3, A a
result, contracts shallnot be binding on the City until 'such tiitti? as they hive -ben appitiMatty
ihr
'Oversight tbS7i1:: Execution,of ts Agtectnant by the Cityldatiaget shall constitute elAdenec
of
its a'pptuvalliple Ovectight Board.II •
wrrNEss wHEREbF, this Aweement has b'peri.exemterl by the duly atuhotized
officials ofKaiiii-Oade County and the City °claim* .A0444.
miumvo COUINITY, a political subdivision of
thc.SIn1b
KfTPST:
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'LXX 1713434-1.3WotasNviarbeign doe
By:
• Waren R. Stcirhoim
Oeuntylviltnager
CITY OF lyttAlon, a. municipal corporation ofthe
tatc.-001. it!
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. War ihiw
Cdtylyitotaga
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