HomeMy WebLinkAboutCity of Tamarac Resolution R-86-124I t
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Introduced by: olltl
CITY OF TAMARAC
RESOLUTION NO.
A RESOLUTION APPROVING AND
AGREEMENT WITH FLORIDA NA
DEVELOPMENT ENTERPRISES,
DEVELOPMENT OF THE PROPOSED
AND PROVIDING -AN EFFECTIVE
BE IT RESOLVED BY THE COUNCIL OF T
SECTION 1: That the Tri-
National Bank and Oxford Developme
ing to development of the proposed
APPROVED and accepted, a copy of s
hereto as Exhibit "l".
SECTION 2: The appropria
authorized to execute said Agreeme
SECTION 3: The City Clerk i
directed to record said Agreeme
Broward County, Florida.
SECTION 4: This Resolutio
adoption.
PASSED, ADOPTED AND APPROVED this
ATTEST:
CITY JtLERK
I HEREBY CERTIFY that I have
approved the form and correct-
ness of his ION.
A NEY
Temp. Reso. #4082
, FLORIDA
R-86-
ACCEPTING A TRI-PARTY
TIONAL BANK AND OXFORD
INC. PERTAINING TO
SPRING HOUSE PROJECT;
DATE
HE CITY OF TAMARAC, FLORIDA:
Party Agreement with Florida
nt Enterprises, Inc., pertain -
Spring House project is HEREBY
aid Agreement being attached
to City officials are hereby
nt on behalf of the City.
s hereby authorized and
nt in the public records of
n shall become effective upon
Ijay of dL111 C- 1986.
MAYOR
RECORD OF COUNCIL VOTE
MAYOR: HART [tom
DIST. 1: C/W MASSARO
DIST. 2: C/M STELZER
DIST. 3: C/M GOTTESMAN ` �r
DIST. 4: V/M STEIN
�_ �6- /0z �
TR )ARTY AGREEMENT
(SABAL)
THIS TRI-PARTY AGREEMENT ("AGREEMENT") entered into by and between
FLORIDA NATIONAL BANK, a national banking association ("FNB"), TAMARAC-OXFORD
LIMITED PARTNERSHIP, a Maryland limited partnership qualified in Florida
("OXFORD") and CITY OF TAMARAC, a municipal corporation of the State of
Florida. ("TAMARAC").
R E C I T A L S :
OXFORD DEVELOPMENT ENTERPRISES, INC., an Indiana corporation, and SABAL
PALMS GOLF CLUB, INC., a Florida corporation entered into a Land Purchase and
Sale Agreement dated June 28, 1985, and which Land Purchase and Sale Agreement
was amended on September 25, 1985, January 23, 1986 and March 21, 1986. The
Land Purchase and Sale Agreement and Amendments thereto are collectively
referred to herein as the "PURCHASE AND SALE AGREEMENT."
The PURCHASE AND SALE AGREEMENT provides for the purchase and sale of the
real property described on Exhibit "A," which real property is located within
the City of Tamarac, Broward County, Florida.
The PURCHASE AND SALE AGREEMENT has been assigned by OXFORD DEVELOPMENT
ENTERPRISES, INC., an Indiana corporation, to OXFORD pursuant to an Assignment
<=171 of Agreement dated ho-y-11 14 , 1986. OXFORD has applied to TAMARAC for both
i or the development of the real property described
site plan and plat approval f
on Exhibit "A."
If TAMARAC approves the site plan and plat submitted by OXFORD for the
real property described on Exhibit "A," then certain fees must be paid to
TAMARAC.
OXFORD has requested FNB to loan it the sum of d 176,J-00'02
.IF -
4<MDOLLARS ($ which OXFORD will deposit or cause FNCto deposit
P11 with TAMARAC as the monies due TAMARAC for the fees required by TAMARAC for
the site plan and plat approval of the real property described on Exhibit "A."
-i
FNB is willing to loan OXFORD it. DOLLARS
($ Mroo.po_) subject to the I oan commitment and loan documents between FNB
and OXFORD for the monies due TAMARAC for the fees herein described, subject,
however, to the terms and conditions of this AGREEMENT.
1
NOW, THEREFORE, in consideration of the mutual covenants and conditions
herein contained, as well as other good and valuable consideration, receipt of
which is acknowledged by the parties hereto, the parties hereto agree as
f 011 Ows:
1.
The above recitals and the Exhibits attached hereto are true and
correct.
2. The execution of this Agreement by TAMARAC pursuant to Resolution
No. 86- does not violate TAMARAC's charter, laws, ordinances or any
other laws applicable hereto.
3. OXFORD represents and warrants to FNB that it has taken all neces-
sary action pursuant to its Articles of Limited Partnership, the laws of
Maryland, the laws of Florida, as well as any other applicable laws for the
authority to enter this AGREEMENT. The execution of this AGREEMENT by OXFORD
or its corporate general partner does not violate any existing mortgage,
indenture, contract or agreement which would conflict with or in any way pre-
vent the execution, delivery and carrying out of the terms of this AGREEMENT
by OXFORD.
4. TAMARAC agrees with FNB and OXFORD that the fees described on
Exhibit "B" attached hereto and made a part hereof are required to be paid to
TAMARAC for the site plan and plat approval for the real property described on
Exhibit "A."
5. OXFORD represents and warrants to FNB that it will not transfer,
conv I ey or assign any of its rights in the PURCHASE AND SALE AGREEMENT, the
real property described on Exhibit "A," or in this AGREEMENT until the monies
deposited hereunder by FNB have been returned to FNB by TAMARAC as required
herein, and OXFORD has otherwise repaid the sum of -_ -.f
DOLLARS (s 1-76J-00.0 ), together with accrued but unpaid interest, if any,
thereon to FNB in accordance with the loan documents under which OXFORD
g! DOLLARS ($P76JT0',-
borrowed the principal sum of S-76 S700-01)
from FNB.
6. If FNB discovers or determines that OXFORD has sold, assigned, con-
veyed or transferred its rights in the real property described in Exhibit "A,"
the PURCHASE AND SALE AGREEMENT . or this Agreement, then, upon notice to
TAMARAC, TAMARAC agrees that it shall immediately return to FNB the sum Of
DOLLARS ($ (0
)01
Y
E7
A
�4
e- g - 1,2- �
notwithstanding anything contained in the PURCHASE AND SALE AGREEMENT, this
AGREEMENT or any other loan documents existing between FNB and OXFORD to the
contrary. OXFORD specifically agrees that no further consent or permission of
WORD is necessary for the return of the monies to FNB pursuant to this para-
graph. If funds are returned to FNB by TAMARAC, the approved site plan and
plat shall automatically be null and void.
7. Both OXFORD and TAMARAC agree with FNB that if OXFORD does not
acquire the real property described on Exhibit "A" on or before aq"-
1986, then all monies deposited hereunder by FNB shall be returned to FNB
immediately, notwithstanding anything contained in the PURCHASE AND SALE
AGREEMENT, this AGREEMENT or any loan documents existing between FNB and
OXFORD to the contrary. No further consent or permission of OXFORD to the
demand by FNB pursuant to this paragraph for the return of the monies is
necessary or required.
8. NOTICES. All notices or other communications required or permitted
hereunder shall be in writing and shall be personally delivered (including by
means of professional messenger service) or sent by registered or certified
mail, postage prepaid, return receipt requested, and shall be deemed received
upon the date of receipt thereof.
To FNB: FLORIDA NATIONAL BANK
ATTN: MORTGAGE LOAN DEPARTMENT
100 N.E. 3rd Avenue
Ft. Lauderdale, Florida 33301
Copy to: GOLDBERG, YOUNG & BORKSON, P.A.
ATTN: PAUL YOUNG, ESQ.
1630 North Federal Highway
Ft. Lauderdale, Florida 33305
To TAMARAC: City Manager
CITY OF TAMARAC
City Hall
5811 N.W. 88th Avenue
Tamarac, Florida 33321
Copy to: City Attorney
CITY OF TAMARAC
City Hall
5811 N.W. 88th Avenue
Tamarac, Florida 33321
To OXFORD:
I -Z C'
�6FVIC;jc Z' a
Copy to: RUDEN, BARNETT, MCCLOSKY,
SCHUSTER & RUSSELL, P.A.
ATTN: SCOTT J. FUERST, ESQ.
1 Corporate Plaza, Penthouse B
110 East Broward Blvd.
Ft. Lauderdale, Florida 33302
K
9. This Agreement shall be construed and enforced in accordance with
the laws of the State of Florida and shall be binding upon the parties hereto,
their successors and assigns.
IN WITNESS WHEREOF, FNB has caused this AGREEMENT to be executed on the
-Z3
day of 1986.
--V
WITUSSES:
STATE UF FLORIDA
COUNTY OF BROWARD
FLORIDA NATIONAL BANK, a national
banking association
7
By: President
it sl,'Vl c e
The foregoing instrument was acknowledg d and sworn to before me this
al day of 1986, b) -.-. - N'14v- — , Vice President
oT—FLORIDA NXrrUNAU---BANK, a national banking association, on behalf of the
association.
My commission expires:
rorArY RUMC, MfE OF FLOR15-A—AT LARGE
(Notary Seal)
140YARY PV811C STATf OF FLORIDA
PAY COIAM151�10N IXF NOV 9 1987
19"DID IHRU GEN 4NMANCE UND
IN WITNESS WHEREOF, TAMARAC has caused this AGREEMENT to be executed on
the day of 1986.
WITNESSES:
STATE OF FLORIDA
COUNTY OF BROWARD
CITY OF TAMARAC
'46"By mayor
Attest.
City Manager
Attest.
Approved as to Form:
The foreguAng instrument was backno)iledged and .�worn to befue me this
day of U
.,1986, Y
7--, as the Mayor, Ci'iy Manq$er and
/and ration of
Ci ty Clerk, respectively, oYthe Ully L
r TAMARAC, a municipal corpo
the State of Florida, to be known to be the Mayor, City Manager and City Clerk
of said corporation, who executed the foregoing for the purposes herein
expressed.
40111A �AL RGE
NA�UBLIC, fATE UF FLURIUA Al L
My commission expires:
(Notary Seal)
[ -I
E
$94fVT ft&—IC STA-E Of FUR7DA
0 CONW36M UP JM 20. 1988
"ke.- M GENX64L IRS. I'Mo.
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IN WITNESS WHEREOF, OXFORD has caused this AGREEMENT to be executed on
the day of &41Z— . . _, 1986.
WITNESSES: TAMARAC-OXFORD LIMITED PARTNERSHIP,
a Maryland limited partnership,
qualified in the State of Florida
BY: OXFORD EQUITIES CORPORATION, an
Indiana corporation, authorized to
do business In the State of Florida
(General Partner)
By:
&AAKWA ts
vits fizm
STATE OF FLORIDA
COUNTY OF BROWARD
The foregoing instrument was acknowledged anid sworn
4e y to before me this
day of 1986, bys�v A28AWA6�"v
e & —
V-2RFORD EQUITIES COVPRORATION, an Indiana corporation, authorized to do
business in the State of Florida, a General Partner of TAMARAC-OXFORD LIMITED
PARTNERSHIP, a Maryland limited partnership qualified in the State'of Florida,
on behalf of the corporation.
My commission expires:
140YARY PUBLIC STATE OF FLORIOX
MI ComwsstoN 9XP NOY 9 198,
pONDED 1KRU G&N INSURANCE UND
PY 6:vl/042186.3
'NOTARY PUBLIC, STATE OF FLORIDA AT LARGE
(Notary Seal)
EXHIBIT "All
TO
TRI-PARTY AGREEMENT
DESCRIPTION: (SABA'") �
A PORTION OF "TRACT 13" OF SECTION 12, TOWNSHIP 49 SOUTH, RANGE
41 EAST, ACCORDING TO THE PLAT THEREOF, OF FORT LAUDERDALE TRUCK
FARMS SUBDIVISION, AS RECORDED IN PLAT BOOK 4, PAGE 31, OF THE
PUBLIC RECORDS OF BROWARD COUNTY, FLORIDA, BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
9=912 - CING AT THE SOUTHWEST (SW) CORNER OF SAID SECTION 12,
THENCE S 89009'2511 E ALONG THE SOUTH LINE OF SAID SECTION 12 A
DISTANCE OF 53.01 FEET; THENCE N 00*13145" W A DISTANCE OF 489.16
FEET TO THE POINT QF-UrUNNING; THENCZ CONTINUE N 00*1314511 W
ALONG THE EASTERLY RIGHT-OF-WAY LINE OF ROCK ISLAND ROAD (53.00
FOOT 1/2 RIGHT-OF-WAY) A DISTANCE OF SZ5.85 FEET; THENCE
S 89*09'2511 E A DISTANCE OF 60o.00 FEET; THENCE S 0001314511 E A
DISTANCE OF 334.45 FEET TO A POINT LYING ON A CIRCULAR CURVE TO
THE RIGHT, SAID CURVE ALSO BEING THE WESTERLY LINE OF "MAINLANDS
OF TAMARAC LAKEs SEVENTH SECTION" AS RECORDED IN PLAT BOOK 68,
PAGE 4, OF THE PUBLIC RECORDS OF BROWARD COUNTY, FLORIDA; THENCE
SOUTHERLY ALONG THE ARC OF SAID CURVE HAVING A ItADIUS OF 120.00
FEET, A CENTRAL ANGLE OF 57-22103 H , FOR AN ARC DISTANCE OF 120.15
FEET; THENCE s 00*13'4511 E A DISTANCE OF 805.3f FEET TO A POINT
LYING ON THE NORTHERLY LINE OF A 120.00 FOOT RIGHT-OF-WAY KNOWN
AS WEST COMMERCIAL BOULEVARD; THENCE N 89*09'25" W ALONG SAID
NORTHERLY L.INE A DISTANCE OF 300.00 FEET. THENCE N 00"13'4511 W A
DISTANCE OF 203.00 FEET; THENCE N 89009'25" W A DISTANCE OF
183.00 FEET TO A POINT LYING ON TEE EASTERLY RIGHT-OF-WAY LINE OF
A 100-00 FOOT FLORIDA POWER & LIGHT EASEMENT AS RECORDED IN O.R.
BOOK 822, PAGE 453 OF THE PUBLIC RECORDS OF BROWARD COUNTY,
FLORIDA; THENCE N 00*13'45" W ALONG THE EASTERLY LINE OF SAID
RIGHT-OF-WAY A DISTANCE OF 224-15 FEET; THENCE N 89009'25" W A
DISTANCE OF 117.00 FEET TO THE P-OINT-OF-BIGINNTEG.
SAID LANDS -siTuAT.E Ly:rNG XM BEING IN BROWARD COUNTY, FLORIDA.
CONTAINING 15-244 ACRES, MORE OR LESS.
NORTH
pRoicer
$Ire
4L
a erv, a PWROTW 7
Z,0C,q7'10A1 SK17CH
SECrIOA) 12--Of -*/
(Ajor To SCALZ)
EXHIBIT B
TO
TRI-PARTY AGREEMENT
(SABAL)
City Park Fees $102,870-00
Water and Sewer Contribution Fees 322,834.00
Storm Water Retention Fees 26,677.00
Drainage Impact Fees 1,981.72
140