HomeMy WebLinkAboutCity of Tamarac Resolution R-86-123of
Introduced by: C'!� Temp. Reso.# 4086
CITY"OF TAMARAC, FLORIDA
RESOLUTION R-86-193
A RESOLUTION APPROVING AND ACCEPTING A TRI-
PARTY AGREEMENT WITH FLORIDA NATIONAL BANK
AND PINE ISLAND - OXFORD LIMITED PARTNERSHIP
PERTAINING TO DEVELOPMENT OF THE PROPOSED
HIDDEN HARBOUR PROJECT; AND PROVIDING AN
EFFECTIVE DATE,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC,•FLORIDA:
ySECTION 1: That the Tri-Party Agreement with Florida
National Bank and Pine Island - Oxford Limited Partnership
pertaining to development of the proposed Hidden Harbour project
is HEREBY APPROVED and accepted, a copy of said Agreement being
attached hereto as Exhibit "l".
SECTION2: The appropriate City officials are hereby
authorized to execute said Agreement on behalf of the City.
SECTION: The City Clerk is hereby authorized and directed
to record said Agreement in the public records of Broward County
Florida.
SECTI N 4: This Resolution shall become effective upon
adoption.
PASSED, ADOPTED -AND APPROVED thisLday of , 1986.
'MAYOR
.ATTEST:
>Zza�44"
CITY CLER
I HEREBY CERTIFY that I have
approved the form and correct-
ness of the RESOLUTION.
RECORD OF COUNCIL VOTE
MAYOR: HART
DIST. 1: C/W MASSARO
DIST. 2: C/M STELZER ---
DIST. 3: C/M GOTTESMAN ...
DIST. 4: V/M STEIN
IN
/441 r1>PC_ 41 1��)c
TRI-PARTY AGREEMENT
(PINE ISLAND)
THIS TRI-PARTY AGREEMENT ("AGREEMENT") entered into by and between
FLORIDA NATIONAL BANK, a national banking association ("FNB"), PINE ISLAND -
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 JUSTUS
HOMES OF FLORIDA, INC., a Florida corporation entered into a Land Purchase and
Sale Agreement dated June 21, 1985, and which Land Purchase and Sale Agreement
was amended on February 5. 1986. The Land Purchase and Sale Agreement and
Amendments thereto are collectively referred to herein as the "PURCHASE AND
SALE AGREEMENT.11
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
of Agreement dated 6LJr� 1986. OXFORD has applied to TAMARAC for
site plan approval for the development of the real property described on
Exhibit "A."
TAMARAC has approved the site plan submitted by OXFORD for the real prop
erty described on Exhibit "A," subject only to certain fees being paid to
TAMARAC.
OXFORD has requested FNB to loan it the sum of FOUR HUNDRED TWENTY-THREE
THOUSAND FIVE HUNDRED DOLLARS ($423,500.00) which OXFORD will deposi-t or cause
40 FNB to deposit with TAMARAC as the monies due TAMARAC for the fees required by
TAMARAC for the site plan of the real property described on Exhibit "A."
FNB is willing to loan OXFORD the sum of FOUR HUNDRED TWENTY-THREE THOU-
SAND FIVE HUNDRED DOLLARS ($423,500.00) subject to the loan 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
AGREEMENf.
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 ol I 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 approval granted by TAMARAC for the real property
described on Exhibit "M
5. OXFORD represents and warrants to FNB that it will not transfer,
convey 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
6r- C)� Folz b
deposited hereunder by FNB4have been returned to FNB by TAMARAC as required
herein, or OXFORD has otherwise repaid the sum of FOUR HUNDRED TWENTY-THREE
THOUSAND FIVE HUNDRED DOLLARS ($423,500.00), together with accrued but unpaid
Interest. if any, thereon to FNB in accordante with the loan documents under
which OXFORD borrowed the principal sum of FOUR HUNDRED TWENTY THREE THOUSAND
FIVE HUNDRED DOLLARS ($423,500-00) 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
FOUR HUNDRED TWENTY-THREE THOUSAND FIVE HUNDRED DOLLARS ($423,500.00),
F1,
,(- F6 - 1,2- 3
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
OXFORD is necessary for the return of the monies to FNB pursuant to this para-
graph. If funds are returned to FNB by TAMARAC, the site plan hereinabove
described and previously approved by TAMARAC shall be automatically 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
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: q'0 ox-'Ard
lojc/LL
M
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 333U2
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
day of fi= I --, 1986.
V
FLORIDA NATIONAL BANK, a national
banking association
to be executed on the
By:
itsSVice President
STATE OF FLORIDA
COUNTY OF BROWARD
The foregoing instrument was acknowledged and sworn to before me this
day of 1986, by Vice President
of FLORIDA NATIONAL BANK, a national banking association, on behalf of the
associ ati on.
.-'NO ARY �PUBL C. 51AIL OF F[ORIDA Al LARGE --
My commission expires:
NOTARY pUBLIC $TATE of FLORIDA
jAy commlsstO14 W NOY 9 1997
IONDED IMKU Cjt4 4�,ISUaANCE UND
(Notary Seal)
IN WITNESS WHEREOF, TAMARAC has caused this AGREEMENT to be executed on
-1) -6
the o��,'> day of Wae1j—_. 1986.
By:
Attest:
Attest:
Approved as to Form:
STATE OF FLORIDA
COUNTY OF BROWARD
CITY OF TAMARAC
The foregoing instrument was ar-kna
day of 1986, b
—a n-d
Mayor
.77:� City manager
Cit
't
ity ttorney
ged and sworfif o me thi s
b"
42- , ,, -'- �Z
7—,as- the Mayor, City— "na r and
r'-7
L -A
4
e- g - IC2-
City Clerk, respectively, of the CITY OF TAMARAC, a municipal corporation of
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.
F
ARY
E OF FftnDA—AT_9RGE
My commission expires: PNLX SIATT t* (Notary Seal)
WUV P jow
WV cowssw' V,
logo low Gk'rz�AL
IN WITNESS WHEREOF, OXFORD has
t he 2 day of 1986.
WITNESSES:
STATE OF FLORIDA
COUNTY OF BROWARD
caused this AGREEMENT to be executed on
_D�
PINE ISLAND -OXFORD LIMITED PARTNERSHIP,
a Maryland limited partnership! da
qualified in the State of Flori
BY: OXFORD EQUITIES CORPORATION, an
Indiana corporation, authorized to
do business in the State of Florida
(General Partner)
BY:
I s
MA' ts
The foregoing instrument was acknowledged and sworn to before " this
1986, by Ce— —
42 0 2L� -
day of aut to do
E�UITIES_ CORPORATION, an Indiana corporationt hori zed
of OXFORD General Partner of PINE ISLAND -OXFORD
business in the State of Florida, a partnership qualified in the State of
LIMITED PARTNERSHIP, a Maryland limited
Florida, on behalf of the corporation.
Z49PC'&40RIDA AT
My commission expires: (Notary Seal)
NOIARY PtiRLIC $TATE OF fLORIVA
#A,f Cc)m*15SION EXP NOV 9 1987
JONDID T141W QN INSURANCE UND
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Page 2 of 5
EXHIBIT A
CZL I:
A portion 9! FLORIDA FRUIT LAUDS CD.,,j?vjW S;j-3DjVjSj0H No_ 2@ 0! Scc_
%ion 5% TOWnShiP 49 South. 7.zn:c 41 y.3sto AS recorded in plaz
?zSe 102. 4, 1,
6t the Pub'Sc "C"rds so ?&!= Sc&ch Q"DtY. -.-Iorldz.
nora parncularly descrlUed as'laliewc;
CCTDIZNC"'*:: at the Sout'haast, cognac ofsaii setilon
);,Grzh 00-100W West. along 'the Lass. lifte of said Section 5,
Of 3529-21, fccz-, TMX.',ICZ North 32600,09, wgsT.. 0 disiance a! M7.01
f9st- said Point Ugins an 0'a Vaszer2y rI:h-4-of-w&y 21"s 07 Vorth-jgst
88zh t-V4nVC, 49 T*CCrd4d Is O.R. look 4747, Palo 233, of %he pubjLt
L
Accords of Bra-w-ard Cewnz.y, 72orldz, said POLZI, Ibeizir fw'rz'ncr des�cr::I�td
as Usin: the 76int of te:1naint of %his 'descriptior.;
tance of $47.66 fag-.; Mi-E-licz
Worth SI'bQV09" Vest. a dix, CaUt.01mus
North 030326oz" i:sz. a dis%ance of 775.22 feet; Mnz . 0 00. .
Souzh 72*17'2.3� lzs%, a distance of 546.32 f6g-Le "the %asz. two dcsmr.,,b,d
courses Ueln: co'"'deut witki the taxtcrlY "Ind -Southerly
Of t."t ctrzDir, czAAI as rezorded in 0.1. 3ook 600, 2810
?UID21C Rccor4s C! zz=ward County, rlorl�a: TIMMCI Sgutb'13*56'.579' West.*
distance Of 146-66 I&SIP; r-IZ-%CZ South 30043*43" Last, a distance of
L06:01 leat � the are of a circular curv4- -to the Lr
zo a point Do
whose radius point 'baArs South 31'37142" jas-.. frou the 0,1&3%
Pcln--; SOutherl? &)Gas %he arc of said -curve, I%Bvins a radius
Of 2106-00 foat. an are distance a! 233.82 feet To the Point of
SeZinning. zbe last described course Ueln: CoLneldenz with eng saii
Ves%arly rl:hz-of-way line of Isiorthwast-33tb Avenue.
;0
Said lands siLuatc. ITigg &04
Utizz 1z ZrOw9rd COum%Y. Tlorida.
-Contzinin: 20-24 screz,.more or Icsx..
I
Page.3 of 5
EXHIBIT A
PARcm 2: . 0
A j6rii0D Of MP -=A' 7'D'T'Lkh.DS CD-4?A�ff SU3D'VZ$20H NO. 29 pf Sactiom
5. To.
..nship 49 Squzh. ?.&as* 42 last. as recorded it Flat look 1. ?&It
102. of tbc puVjic Records of ?ale leach'County, 71orlda, being =ore
parrs-r-ularly desr---T�Md As 10110vs:
at the Sout-heast cornqr of zald Swetion 5; THIRL'.
" W.
'*0;Drz*h ;0-10%05 frext, alono zbe Zast line of said S&c%lon 5, a dis%anct
0
3245.93 fee:; 7K—.-MCZ 'Utss.. a distance of 1972.75 fact to a poLnt on
,heNorzherly rl;�M-oi-vzy line of K. W. 77th So.tect, as recorded
0%
O.L. took 6250. M. of the 7ub'lic Records Of Zrovard County.
Tlorida. said point 'bein; funhat des=rllbed as tba Point of lezimni-m; of
t%.jz dest-.ipmion; 7X:),'C-r continue �Gwesz. A distance of 263.42 *facz to a
Paint of Curvature- of a circular curve fis the Risht; THUct Ucs-.crly
a I onS -.:h a ' arc of said curve, 'having a radius of 1240.00 fee-., at art
dista"ce of 1002.30 faa-z to the Point of Tansency; -47MIC!
69042"If" West. a distance of 134.25 itat to a point at the ;Xsz-
arly r1:-r-z-o!-'4mY line of %hat ctrIsLa can&!, as recorded la 0.7.. look
fit5o, ?ass 688, of the Public Zscords of Itc-aard County, -norida, the
2ast three described cou:sts being coincidezz vilth the said Worther17
rept-ol-way line Of UI.W. 77th Street: MIMI= Uorzh 03'32'02" Zas-..
saidUsterly r1tht-of-way �Lne. a distance a-66 372.70 feet; 7FT-NCZ,
dis%x to of ;47.66 fact to a point an the are cf
soutb 6l'h'OO"099' zast' ; *2*.&
AL C1.7CUIAT curve to the Left, whose Z&diuz pailat itars South 97',59'z2o, --as
froz the last desc-.1,bod pot=z. said poizz being further descrilza& as
jDC.4nZ an the Uest*Cly lint Of N- W- 39th Avenue, as --ecoriee
It a.?.. Sook 4747. Pals.293. of the Public Records a*' Iroward Coumty.
r2orlda; Tjtr.%:cj southerly along The are of said curve. having a radius
of 2206.00 fea-, an arc distanct of 357-46 fear; THENCI West, a distance
of 200.00 feez; �ARMHCZ South, a diszznct of 200.00 fact to the Point o!
Said lands situate. lyiu$ and being in Ira-.razd Cowm%y, T.Ioridz.
co"%aLnLra 21.009 &C74S, More Or less.
Page 4 of 5
0
EXHIBIT A
A por-tion of Tracts 2. 3, S. 6 and 7, FLORIDA FRUIT LANDS COKPARY SUDDIVIS'
110. .2. cf Section 5, Township 49 South; Rance 41 East. as recorded
in Plat Book 1, page 102. of the Public Aec6rds of Palm Ceach County. Fl*
bein; --nore particularly described as follows:
BEGIN at the most 14esteriy corner of "meftler liames - Tnmarac' according tc
the pl at thereof recorded in P1 at Book 101 . At Page 40, of the Publ i c Recc
a' Broward County, Florida. 7MENCE.-South-AVIS'Sl' East. a distance of 170-
f;et; THENCE North 49'44*09" East, a. di'stan-c"i of 175.'84'f eat -...TH71;Cr South
4o015,51o, East, a distance of 309.47 feet to an intersection with the arc c
a circular curve, con:svt Southeasterly. wh6se.radius point bears South.509
East, fro.-.. the last described point; THENCE. liar thetsterly alono 16,1.he 4�rc qf
Said curve havino a radius of �366.00 feet, a central angle of 02'2:�'13- an
an ar: dis;anc! ;f 101.33 feet; THENCE South 4011S'51' East, alor-0 a line n
zannet.to the last described curve. a distance of 121.64 feet to a Point of
Cur�azure of A circular curve. concave Northeasterly; THENCE continue South
along -the are of said curve, having a radius, of 80.00 feet. a central angle
of 079SO625" and an arc distance of 10-95 feet. to &"Point of -janzency; THEE,
South 48006'160 East, a distance of.104 " 16 feet; 7MENCE- South 03046'36-. Eas,
a distance of 34.94 feet, said last four courses being coincident with the
South Richt-of-Way line of'N.W. 79th Street and said last eight courses- all
being coincident with the Southerly limits of said plat "Heftler R-omes -
Tam.rac", to an intersection with the are of a circular*cur�fe, concave
Southeasterly, whose radius bears South 49*26ISS' East, from the last
described poin:; THENCE Southwesterly. along the -are of said iurve. having
a radius of 2106.08 feet; a central angle of 19'39'50" and in arc diszance
of 722.78 feet, said arc being coincident with the Westerly Right -all -Way lir
of N.Y.. ESth Avenue as deeded in O.R. Boo.k"4747, at Page 183, of the Public
Records of Broviaro County, Florida, to a pdinT bearing North 69*06"460 West,
.f 'est. &I
Arc= the radius point of the last dtscribed curve; TMENCE 71117'Z:-" V.
the 11ortherly RiCht-of-Ilay lint Of A Canal. a distance of 972.85 feet-, 7H-_-riC
Noroh 03032*02" East. along the Easterly Right-ot-Way lint, of said Canal.
a distance of 176.90 feet: ISENCE North 49*44"09 . East. along the southerly.
Right-cf-*Way line of said Canal, a distance of -788.94 feet, said Canal deede
u
in O.R. Book 64SO at Page 688, of the *Public Records of Broward Cc nty.
to the POMT OF BEGINNING of this description.
Said lands situate. lying and being in Broward County, Florida.
F- 'I
L-A
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EXHIBIT B
TO
TRI-PARTY AGREEMENT
(PINE ISLAND)
Water
and Sewer
Contribution Fees
$397,000
City
of Tamarac
Traffic Impact Fees
26,500
1.10
1-0