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HomeMy WebLinkAboutR-77-0073DOCUMENTS • OLLOv", • RESOLUTION No. 77,-73 A RESOLUTION AUTHORI gING THIS CITY MANAGER AND THE CITY CLERR TO ENTER INTO AGREEMENTS TO PURCHASE REAL ESTATE ON THE FORM CONTRACT ATTACHED HERETO AND mAbn A PART HEREO1+` FOR A PRICE NOT TO EXCEED THE AHPRAl5t b VALUE OFF THE PROPERTY TO HE ACQUIRED, PLUS A HONtts ot, 10t ON THE FIRST $10, 000. 00, St ON ANY AMOUNT HETWEEN $10,000.00 AND $500,000,00, ND 3% ON ANY AMOUNT P. TWEEN $500,000.00 AND 1,000,000.00, WHEREAS, the City of Miami purchases real estate in lieu of condemnation from time to time, and WHEREAS, present procedures and agreements are in need of revision, and WHEREAS, Federal funds are involved in many of the City's acquisitions, and WHEREAS, the present procedures and agreements do not meet the requirements of Federal law and guidelines, and WHEREAS, the form contract attached hereto and made a part hereof will meet Federal law and guidelines, NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAI•II, FLORIDA: Section 1. The City Manager and the City Clerk be and are hereby authorized to enter into agreements to purchase real estate on the form contract attached hereto and made a part hereof for a price not to exceed the appraised value of the they pro- perty to be acquired, plus a bonus of 1O% on the first $10,000.00, 5% on any amount between $10,000.00 and $500,000.00, and 3% on any amount between $500,000.00 and $1,000,000.00. PASSED AND ADOPTED this 27 day of sIANHARY_ C52-/ City'Cler} PRI;PA11;r1 AND AI't'ItOV1 BY: APPRO �! Mhel 1lf l�T,,, i�I:,F eson :;tint. City Attorney • MAURICE A, FERRE MAYOR ITEM hia AS TO FORM AND CQRRE 1976. l', J rio;`l `TI''. ii`Y COMMIS' ON MEETING OF J A N 2 7 11977+� MOUITION • R • tot eft? bP MIAMI. rLONII5A IN `E .OPPter MEMORANDUM The f#onorable Memhebs of The eit t Commission t2C -' : w rember 10, 976 P,Lt butinct Resolution, Agreement and procedure for oonddmnatio i. RtFtttENCtS: E=FICLOSURtS The City's condemnation procedures have heeded revision for some time. The City sent an option form to owners to purchase their property in lieu of condemnation. In addition to the fact that the option did not comply with Federal gudelines, it did not adequately define the obligations and liabilities of the parties and their attorneys, once it was exercised. The contract attached to the resolution meets the Federal guidelines and clearly de- lineates the responsibilities of the parties and their attorneys. This agreement does not authorize the expenditure of any funds Once the agreement is signed by the seller, the City Commission will be presented with the agreement and a resolution authoriz- ing an allocation of funds necessary for the purchase will be required. Moreover, the deposit paid to the seller is shown on the agreement as $100.00. Paragraph 8 of the agreement provides that if the City defaults in the purchase such monies shall be retained by the seller and the parties will be relieved of any obligations under this contract. I am recommending that the City Commission approve the resolution and form contract attached thereto. GFK/MEA/ts CONTRACT 'cm SALE AND PURCHASE THIS IS INTENDED TO BE % LEGALLY HINbtNC CONTRACT. IV NOT Iv'ULby UNDERSTOOD, SEE} `rtll AbVIC R t f' YOUR f1` TORNEV ti:IO Z To gt NINCt_.__. of (Ph hereinafter called the seller, and TII ; CITY Or MIAMI, a Florida municipal corporation, hereinafter called the buyer, hereby agree that the seller shall sell and the buyer shall buy the following des=gibed property UPON TIIR TERMS AND CONDITIONS IIR t1INAPTt fi SI T voRTH, which shall include the STANDARDS FOR rinAL tSTATt TRANSAC PIONS on the reverse side hereof. 1. Legal description of real estate iri Dade County, Florida. Street Address: Purchase price bepcsit paid to seller. Existing first mortgage -$ Existing second mortgage (if any) $ Balance to close (excluding deposit) subject to $ OLL0 adjustments and prorations TOTAL $ 3. Time for Acceptance: If this contract is not executed by the seller and buyer_ on or before the aforesaid deposit shall be, at the option of the buyer, returned to it and this agreement shall be null and void. The date of contract, for purposes of performance, shall be regarded as the date when the last one of the seller and buyer has signed this contract. Closing date: This sale shall be closed and the deed shall be delivered on or before the day of , 19 Prorations:• Taxes, interest, rents and other expenses and revenue of said property shall be prorated as of date of closing. Examination of Abstract: The abstract of tit:le to be delivered to the buyer or its attorney shall show seller's title to be Irrarketable. Liens and encumbrances not specified in the con- tract shall be discharged by the seller at or before closing. Buyer shall have a reasonable time from the date of receiving said abstract to exanii.no same, If the title is found to be unrnar.hetab.l c the buyer shallimmediately notify the seller in writing, specifying the defects. If the said defects render the title unmarketable, the Seller shall have ninety (90) days fr'oni the receipt of such notice to cure the defect,. If the said defects shall not be eurecd, the buyer shall have this option (1) accepting title as it then is, or, (2) demanding 4 refund of all monies paid hereunder which shall forthwith be returned to the buyer, and thereupon the buyer and the seller shall be rc:lc+,c;;od of all further obligations under this contract, Conveyance: ;yeller shall convey title to the afotesaid pre pertly to buyer by general warranty deed Default by payer: if buyer- fails to perform any br the cove- hcthts of this contract, the deposit made pursuant to this contract by the buyer as aforesaid shall be retained by bt for the account of the seller as consideration for the eked F t .on of this contract and in full settlement of any Claims for damages, and the seller- and the buyer shall be relieved of all obligations to each other under this contract. Default by Seller: If the seller fails to perform any of the covenants of this contract, the aforesaid deposit at the option of the buyer shall be returned to the buyer on demand or the buyer shall have such rights and remedies hereunder as the law allows, 1O ► Typewritten or handwritten Provisions: Typewritten or hand- written provisions inserted in this form shall control all printed provisions in conflict herewith. Other Agreements: NO agreements, unless incorporated in this contract shall be binding upon any of the parties. 11. 12. Additional Provisions: Executed by Buyer on THE CITY OF MIAMI, a Florida Municipal Attest: corporation By City Clerk City Manager Witnesses: (Two are required) Executed by the Seller, on (SEAL) (SEAL) As to, Seller Seller t"SIJPPQP'TI DQCuMENT FOLLQW' (SEAL) s`rANDARbS 1 OR UAL t STATE '1't iN8ACT:tON M138TRACT (a) The seller al his expense shell furnish t:o the buyer a complete abstract of title covering the subject pro-; perty certified to a date subsequent to the date of the dbi - tract but in no event more than thirty (30) days prior to the date of scheduled closing. (b) The abstract shall eonta'itn allreeorcled plats involving the subject property and wherever necessary, a location note of the. abstractor. 1 XISTING MORTGACI S: (at) The seller shall furnish estoppel setting forth the letters (not necessarilyin affidavit form) principal balance, method of payment, and whether the mort.tjac e is in good standing. (b) Existing mortgages shall be paid in full at or before the time of closing. If said mortgage er mortgages are paid at the time of closing the principal balance plus interest thereon to the elate of closing shall be deducted from the amount paid to the seller,. (c) If any prepayment penalty is required on any mortgage which has not been paid in full prior to the closing the buyer shall deduct the amount of such prepayment penalty from the amount to be paid to the seller. (d) If the terms of any existing mortgage prevent the buyer from prepaying said mortgage, then, and in that event, the buyer may, at its option, terminate this agreement and receive a refund of all monies paid hereunder. Said sums shall be forthwith returned by the seller and there- upon the buyer and the seller shall be released of all further obligations under this contract: LEASES. The seller shall furnish copies of all written leases to the buyer prior to the closing and if there are any persons in possession without written leases, estoppel letters from such persons specifying the nature and duration of the occu- pancy shall be furnished to the buyer by the seller prior to the closing date.. RELEASES OF L,IEN•I. If subject property has been improved within ninety (90) days prior to closing elate, upon written request by buyer's attorney, the seller shall deliver releases or waivers of all mechanic's liens executed by general contractor, sub- contractors, suppliers, or tnaterialmen. REVERTERS AND RESERVATIONS. All reverter provisions and reser- vations affecting the marketability shall be released of record at seller's expense unless extinguished by the Marketable Title Act, Florida Statute 712. CORPORATIONS. Seller, at the buyer's written request, shall furnish proof of corporate existence of all corporations set forth in such request appearing in the chain of title as of the time such corporation acquired the property and conveyed same. PLACE OF CLOSING. Closing shall be held at the office of the buyer's attorney or as otherwise agreed upon. 8. DOCUMENTS FOR CLOSING;. Seller's attorney shall prepare peed, Owner's Affidavit, seller's closing statement and shall submit copies of same to buyer's attorney at least two days prior to the scheduled closing clat.e. If and in the event the seller' does not . ccure the services of an attorney, buyer's attorney shall pr-epar'c' all cicocuument. s for closing. 9, Expl;ty' rid; , Federal and ; tate documentary stamps which are re- quired to be affixed t:o the instrument of conveyance and in- tangible personal property taxes vhol.'l he paid by Lhseller. " UPPO T VE .F.;)L1. i; lieetl'1'1'1c)N OP `'AXES (Real and Personal). Taxes shall be lro toted based upon the current year's taxes without regard tt d iscouht, It the•., c f ue i t1e t r)},t :; place and they eu thef t 'yearl s UIXO8 are hot. fixed, aticl the dttercttityear's assessment 1Sy� available, , taxes will be 1�i of �t tc'd based upon Such �[t:i;ie'sst t t1t and the pr-tot year's t;ii1 1ctge, if the current. year's ssess = t110111 is Clot. available, theft taxes will be prorated on the prior: yeat''e tax, provided howevet:, if thete is Completed subject premises by January 1 of the year improvement: of the «-� � � � � , of the t.tran act1o1-t, then the COXEIS shall be prorated to the date of closing 'based upon the prior year's tnil.lncje and an equitable as:ussrttettt to be agreed upon between the parties, 11. SRECIAt, ASSESSMENT N't` htENS. Certified liens as of the clay of closing (and not as of the date of the contract) are to be paid by the seller. Pendittcg liens as of the cclate of closing shall be assumed by the buyer, provided, however, that where the ittiprovemetnthas been completed as of the date of the contract, although the lien for saute is pending and not certi- fied, such pending liens shall be considered as certified and shall be , paid by the seller when certified, even though certi- fication takes place subsequent to closing 12. PERSONAL PROPERTY. The seder represents and warrants that all appliances and machinery included in the sale should be in good working order and repair as of the date of closing, All personal property shall be transferred by Bill of Sale, 13. RISK OF LOSS. (a) In the event of a casualty loss, the seller shall have a reasonable time to repair the damage and if he fails to do so, the buyer- shall have the option oft (1) Taking the property as is, together with insurance pro- ceeds, if any, or (2) Cancelling the contract, and all deposits are to be forthwith returned to the buyer and all parties shall be released of any and all obligation and liability. (b) Between the date of tht contract and the date of closing, the property shall be maintained by the seller in the condition as it existed as of the date of the contract, ordinary wear and tear excepted. 14. PROCEEDS OF SALE. (a) The cash balance of the purchase price, if any, shall be paid by City of Miami check. (b) The deed shell he recorded and atthe buyer's option the abstract of title continued, at buyer's expense, to show title in the buyer without any encumbrances or change from the date of the last continuation rendering seller's title unmarketable. The cash proceeds of such sale shall be held in escrow by the seller's attorney or by such other mutually agreed upon Escrow Agent for a period of not longer than five (5) days, exclusive of Saturdays, Sundays and holidays. If the seller's title is so rendered unmarketable, the buyer's attorney shall, within the said five (5) day period, notify seller's attorney in writing of the defect and the seller shall have thirty (30) days from the date of receipt of such notification to cure the defect. In the event seller fails to timely cure said defect, all monies ee ict hereunder.' shall, upon written demand therefor within five, (5) days thereafter, be immediately returned to buyer, and Simultaneously with such repayment, buyer will vavatc the premises se end reconvey by Special Warranty Deed, ]r) the event of t he failure of buyer to make timely demand for refund, he shall take title its is, waiving all rights atctFriest. the ,teller os to the intervening defect., 15. POSSE 3ION, Buyer shall have the right to take possession of the subject: premises at the time of closing; provided however, that where Vedera1 relocation assistance is mandato solic.,r may remain in possession fora period trot exceeding ninety (90) days after the date of closing for which .a fair rental rate will be charged, 16, 11,'1"1'0ItUi';Y iT.E;i AND COSTS, in connection with any l iti-t;;tt.icn ori.s ng out of Ole corlt:r;!t-, t:he PreValling party shall. 1)L entitled to recover ,4 11 f'-n;;t-.f; iiu'ur.'red, i.ncludin, '; i# lonahle attorney's foils, Y;