HomeMy WebLinkAboutR-1987-044 RESOLUTION NO. 44-87
A RESOLUTION OF THE CITY OF DANIA, FLORIDA,
AUTHORIZING THE CITY MANAGER TO COMPLETE THE
ARRANGEMENTS WITH CARIBANK FOR A LOAN IN THE
AMOUNT OF SEVENTY-FIVE THOUSAND AND N0/100
DOLLARS ($75,000. 00) AT THE INTEREST RATE OF
EIGHT AND ONE-HALF PERCENT (8-1/2% ) PER ANNUM
AND PAYABLE (FIRST PAYMENT DUE ON OCTOBER 15,1988) IN INSTALLMENTS OF TEN THOUSAND AND NO/100
DOLLARS ($10,000. 00) PER YEAR FOR THE FIRST
THREE (3 ) YEARS, PAYMENT TERMS TO BE
RENEGOTIATED AFTER THE THIRD YEAR, TO FINANCE
THE PURCHASE OF A 2. 72 ACRE PARCEL OF PROPERTY
LYING WEST OF S.W. 12 AVENUE, DANIA, FLORIDA-
A
ND AUTHORIZING THE APPROPRIATE CITY OFFICIALS
TO EXECUTE ALL DOCUMENTS NECESSARY TO CLOSE SAID
LOAN TRANSACTION; AND PROVIDING THAT ALL
RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT
HEREWITH BE REPEALED TO THE EXTENT OF SUCH
CONFLICT; AND PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA,
FLORIDA:
Section_ 1_ That the City Manager is hereby authorized to
complete arrangements for the closing of a loan from CARIBANK,
Dania, Florida, in the amount of Seventy-Five Thousand and no/100
y_.
Dollars ($75,000. 00) with interest at eight and one-half percent
(8-1/28) per annum, with the principal and interest thereof
payable (first payment to be due October 15, 1988) in installments
of Ten Thousand and no/100 Dollars ($10,000. 00) per year for the
first three (3) years, payment terms to be renegotiated after the
third year, with the proceeds of said loan to be used to finance -
the purchase of the following described property:
The NW 1/4 of the SE 1/4 of the NE 1/4 of the
NE 1/4 of Section 4, Township 51 South, Range
42 East; said lands situate, lying and being
in Broward County, Florida.
Section 2. That the appropriate City Officials are hereby
authorized and directed to execute on behalf of the City of Dania,
Florida, all necessary loan documents and to accomplish all other
acts necessary to close this transaction.
Section 3. That all resolutions or parts of resolutions in
conflict herewith be and the same are hereby repealed to the
extent of such conflict.
Resolution No. 44-87 JI
I
i
i
3 Section 4. That this resolution shall be in force and take
a
;i effect immediately upon its passage and adoption.
PASSED and ADOPTED on this y day of September , 1987.
I
j
MAY - -OMMISSI NER
ATTEST:
CI Y CLERK '- AUDITOR
APPROVED FOR FORM AND CORRECTNESS:
j FRANK C. ADLER, CITY ATTORNEY
City of Dania, Florida
i
o.�
wti
i
J
Resolution No. 44-87
I
IR
OONTRAI'T FOR SALE AND PURCHASE
of the Aollywood - South Brow•ard Board of Realtors Inc, uld the South Broward bar Aaeoclatlon
REALTORs
MIRIAM BURROWS, as Personal Representative of the Estate of BEATRICE BURR7WS, Deceased
c/o A J. R57LN, JR , 700 E. Dalua Beach Blvd. , Dania, FT ... .
Of ....... _... _... (Ph. . 920-Z921........I hereinafter called the seller,
and ... CITY.,OF DANIJI, a Florida lTwue;.pal �>poration
100 W. Dania Reach Blvd Dania FL 33004
of ... ...... .. . r 921 8700.......) 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 TRANSACTIONS
set forth on reverse aide of this contract.
1. L£OAX DESCREMON of real sstats located In.............Brcward.... . ............ County, Florida:
The NW; of the SE); of the NE; of the NE; of Section 4 ,
• Township 51 South , Range 42 East; said lands situate,
lying and being in Broward County, Florida.
sTRpmrADDRFSS: Vacant property.
Personal property included; None
Seller represents that the property can be used for the following purposes: AS....p.r.P..$. .Rtly...zoned
2. PURCHASE PRICE AND METHOD OF PAYMENT: Purchase Price is i....84 ,.0.0.0...0.0 ..... . . ... .....
...................._... . � .... ...
i .........1.0.0..0.0 .. Deposit paid to A,J.... YAI ,....J1t. $T,,,.,_ ( ) Cull ......(R) Check to be deposited for collection.
i....... ... . ......._......... Purchase money note and mortgage to seller. Interest rate ...........'% per annum;
Methodof payment .... ....................................................................... ...... ............................................................................
i_ .......... ... ..................
............................................................................................................................................................
1 B3.a.9.0.Or.D.O...... Cash, or cashier's check on dosing and delivery of deed (or such greater or lesser amount as may be
necessary to complete payment of purchase price after credits, adjustments and proration).
x TIDfE FOR ACCEPTANCE: If this contract Is not execu'ed by the seller and buyer on or before June...2( ,1987
the dorceald deposit shall be, at the option of the buyer, returned to him 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.
4. CLOSING T1ATE: This contract shall be closed and the deed and pouession shall M dellvered on or before the
15t}l y ID 87... or SO days from the date of this contract, which ever
do of .. July_.........
h later.
0. PRORATIONS: Taxes, Insurance, interest, rents and other expenses and revenue of said property shall be prorated as of
the date of dosing.
L EXAMINATION OF ABSTRACT: T'he abstract of title to be delivered to the buyer or his attorney shall show seller's
titre to be marketable. Liens and encumbrances not excepted In the contract 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, and cannot be cleared by above closing date, the seller shall have ninety (DO) days from the .,e..�.receipt of such notice to cure the defects and shall use reasonable diligence so to do. It seller shall not have cured
the defects within the said time, 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.
7. RESTRICTIONS AND EASEMENTS: The buyer shall take title subject to restrictions of record, zoning ordinances, and
public utility easements of record; provided said easements are located on the side or rear lines of the property and
are not more then six (e) feet In width, and further provided that none of the foregoing Interfere with the use of the
property for the aforesaid purposes.
S. CONVEYANCE: Seller shall convey title to the aforesaid property to the buyer by statutory warranty deed subject to
matters contained in this contract and taxes for the year of closing.
D. DEFAULT BY BUYER: If buyer falls to perform any of the covenants of this contract, all money paid pursuant to this
A•.�' contract by the buyer as aforesaid shall be retained by or for the account of the seller as consideration for the execution
Of this contract and as agreed and liquidated damages and In full settlement of any claims for damages.
10. DEFAULT BY SELLER: If the seller fails to perform any of the covenants of this contract, the aforeeald money paid
by the buyer, at the option of the buyer, shall be returned to the buyer on demand; or the buyer shall have only the ...
right of specific performance.
It. T]•PEµ•RMEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions Inserted In this form shall
control all printed provisions In conflict therewith.
12. OTHER AGREEMENTS: No agreements or representation,, unless Incorporated In this contract, shall be binding upon
any of the parties.
/9'SES. (01v0 re required) Executed by Buyer on June 1987
,Gc7 r� ..-...� ' )1, �/. . .. CITY 017 DANIA, a Flo rtuicipal
�✓ ?, 7 + corporation ' (seat)
(' ,` !i' ... ..... By; (Seal)
A. .. 6rra aunr `
WITNESSES ( r required) Executed by Seller on June 1987
( ) MIRI ', BLRR71•7S, as Personal Representative of
the Estate o BEATRICE B 9S, Deceased3eal)
s.n., Con
Deposit received on ........June ... 1987
. ................ .... ................... ... ..-.... __...... .. to be held subject to this contract.
(pip¢!) A.J. RYAN, JR
................................................................................................................................................
. (aiwn.r) 1 I
COMMISSION TO BROKER: Seller acknowledges the employment of ..............ZIO..Bfb7FDR
........................................................................
as broker and agrees to pay said broker the cum of 1 _ . =.........................._..._.as eommimlon for finding the buyer.
In the event of a default by the buyer, one-half the money paid or to be paid the seller pursuant to paragraph No. D of this
Contract shall be paid to the broker, provided however the same shall not exceed the full amount of the commission. In the event
of the sellers default. the seller shall pay the aforesaid commission to the broker.
WITNESS _. Executed by Seller on .......... ...... . ...... ..........1D............. . . .. .
WITNESS .................... __,.... _..... . .. ......_. ..........__...................... •` .......................I............__. .._...............I..... (Seal)
J