Loading...
HomeMy WebLinkAboutCC 1976-12-16 Discussion ItemF10 Th Honorable Members of The City Commission eorge F. 4nox , Jr, City Atto ey till or INTER IMEMORANOUM E.NLLOSUrttg: I u t Ii (1) November 30, 1976 PILE ReSolution, Agreement and procedure for condemnation The City's condemnation procedures have needed revision. fr bme time. The City sent an option form to owners to purchase thoir property in lieu of condemnation. In addition to the fact . 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 agroc7qenL and a resolution authoriz- ing an allocation of: funds nocesary 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. OFR/MEA/ts ONTftACT Fo SALE A40 PURCItASE C' IS INTENDED TO BE A LEGALLY BINDING CONTRACT. NOT FOLLY UNDERSTOOD, SEER THE ADVICE OF YOUR ATTORNEY PRIOR TO SIGNING z.., (Ph nereinafter called the seller, and THE CITY OF MIAMI, a Florida mhicipal corporation, hereinafter called the buyer, hereby agree that the seller shall sell and the buyer shall buy the following described property UPON THE TERMS AND CONDITIONS HEREINAFTER SET FORTH, which shall include the STANDARDS FOR REAL ESTATE TRANSAC- TIONS on the reverse side hereof. 1. Legal description of real estate in Dade County, Florida. eet'Address Purchase price Deposit paid to seller - Existing first mortgage Existing second mortgage (if any) Balance to close (excluding deposit) adjustments and prorations subject to TOTAL $. 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 as the when the one p of f the a shall seller and buyer ,agar has signed this contract. Closing date: This sale shall be closed and the deed shall be delivered on or before the day of 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 to the buyer or its attorney shall show marketable. 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 examine same. If the title is found to be unmarketable the buyer shall immediately notify the seller in writing, specifying the defects. If the said defects render the title unmarketable, the seller shall have ninety (90) days from the receipt of such notice to cure the defects. If the Paid defects shall not be cured, the buyer shall have the option: (1) accepting title as it then is, or, (2) demanding a refund of all monies paid hereunder which shall forthwith be returned to the buyer, and thereupon the buyer and the seller shall be 'released of all further obligations under this contract, tveyahce: ester shall cotvey' title to the of e§ Yty to buyer by general warranty deed. � efaulL by Buyer: If buyer fails to perform any of the cove° hattts of this contract, the deposit made pursuant to this contract by the buyer as aforesaid shall be retained by or for the account of the seller as consideration for the execu- tion 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. 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. Additional Provisions: Executed by Buyer on THE CITY OF MIAMI, a Florida Municipal corporation By (SEAL) City Clerk'' City Manager Witnesses (Two are required) Executed by the Seller on (SEAL) (SEAL) STANDARDS FOR ftEill, ESTATE TRANSACTION t3ST ACT. (a) The seller at his expense shall futnish td the ►i tYef` a complete abstract of title covering the subject pro= erty certified to a date subsequent to the date of the don- tract but in no event more than thirty (30) days prior to the date of scheduled closing. (b) The abstract shall contain all recorded plats involving the subject property and wherever accessary, a location note of the abstractor. EXISTING MORTGAGES: (a) The seller shall furnish estoppel letters (not necessarily in affidavit form) setting forth the principal balance, method of payment, and whether the mortgage • is in good standing. (b) Existing mortgages shall be paid in full at or before the time of closing. If said mortgage or 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) I 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 i he set 1 . : r ? l l be t o.lrased 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 LIEN. If subject property has been improved within ninety (90) days prior to closing date, 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 materialmen. 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. DOCUMENTS FOR CLOSING. Seller's attorney shall prepare Deed, 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 date. If and in the event the seller does not secure the services of an attorney, buyer's attorney shall prepare all documents for closing. EXPENSES. Federal and State documentary stamps which are re- quired to be affixed to the instrument of conveyance and in- tangible personal property taxes shall be paid by the seller. ORATION OE TAXES (heal and Pe rsotra 1.) : 'Taxes slha1.1 be pt-o=' .ed based upon the cur-tent year°'s taxes without regard to 3COOnt., 1 t the Closing takes place and the currerrt year's aXes are not fixed, and the c'ur'rent year's assessment is - V a i 1 abl e , taxes w i l l be prorated based upon such assessment r'1h.t the print year's mi11agile. if the current year's assess- It tit is not available, then taxes will be prorated on the Prior year's tax, provided, however, if there is completed improvement of the subject premises by January 1 of the year. Of the transaction, then the taxes shall be prorated to the date of closing based upon the prior year's mlllage and an equitable assessment to be agreed upon between the parties: SPECIAL ASSESSMENT L1EC1S. Certified liens as of the ,day of Closing (and. not as of the date of the contract) are to be paid by the seller. Pending liens as of the date of closing Shall be assumed by the buyer, provided, however, that where the improvement has been completed as of the date of the Cotatract, although the lien for same 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. 1)ERSONAL PROPERTY. The seller 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 pioporty shall be transferred by Bill of Sale. RISK OE' 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 of: (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 returner] to the buyer and all parties shall be released of any and all obligation and liability. (b) Between the date of the 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. PROCEEDS OF SALT :. (a) The cash balance of the purchase price, if any, shall be paid by City of Miami check. (b) The deed shall be recorded and at the buyer's option the abstract of title continuocl, 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 p a i d hereunder shall , upon written demand therefor - within five (5) days thereafter, be immediately returned to buyer, and simultaneously with such repayment, buyer will vacate the premises and reconvey by Special. Warranty Deed. TO the event of the failure of buyer to make timely demand f'or refund, he shall take title le as is, waiving all rights tjaarist the seller a.: to the intervening defect. l'O$SESSION. Buyer shall have the right to take possession of the subject premises at the time of closing; provided however, that where Federal relocation assistance is mandatory, seller may remain in possession for a period not exceeding ninety (90) days after the date of closing for which a fair rental rate will he charged. ATTORNEY FEES AND COSTS, In connection with any litigation arising out of the contract, the prevailing party shall, be entitled to recover all costs incurred, including reasenna ,l,e attorney's fees. _ 4 _ MtA /ts 11/10/76 need the City gOLUT10N NO gOLUTION AUTHORIZING THE CITY MANAGER AND THE - CITY CLERK 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 PROPERTY TO BE ACQUIRED, PLUS A BONUS OF 10% 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. WHEREAS, the City of Miami purchases real estate condemnation from time to time, and WHEREAS, present procedures and agreements are in revision, and WHEREAS, Federal funds are involved in many of acquisitions, and WHEREAS, the present procedures and agreements do the requirements of Federal law and guidelines, and WHEREAS, the form contract attached hereto and made a hereof will meet Federal law and guidelines, NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE ':!CITY OF MIAMI, FLORIDA: Section 1. The City Manager and the City Clerk be and they 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 pro - perty to be acquired, plus a bonus of 10% 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 day of , 1976. Attest; City Cleric M A Y O R PREPARED AND APPROVED BY: APPRO OAS TO FORM AND CORREC NESS: 4. Georg F. Knox, Michel E. Anderson Cit torney Assistant City Attorney