AGREEMENT FOR THE PURCHASE OF THE MAAS BROTHERS PROPERTY
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AGREEMENT
THIS AGREEMENT is entered into by and between the CITY OF CLEARWATER,
FLORIDA, a Florida municipal corporation (herein, the "CITY"), and the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, a Florida redevelopment agency
(herein, the "CRA"), as of the ~~ day of December, 1991.
IN CONSIDERATION of the sum of $1.00 and other good and valuable
consideration, including but not limited to the agreement by the CITY to loan
funds to the CRA for the purchase of the "Maas Brothers Property," and the
assignment by the CITY to the CRA of the Contract for Sale and Purchase of said
property dated September 5, 1991, the parties hereby agree as follows:
1. During the term of this Agreement, the CITY shall review the
ownership and use of the Property, and related issues including, but not limited
to, financing and the boundaries of the Property, and shall make such decisions
as the CITY finds to be in the best interests of the public. Such decisions may
be in the form of concepts or policies; if any special condition such as
referendum approval is required, such special condition need not be satisfied
during the term of this Agreement.
2. During the term of this Agreement, the CITY shall have the right of
first refusal as to the Property and any portion thereof, and all rights thereto,
and the CRA shall not sell, lease, or otherwise encumber the Property or any
portion thereof or rights thereto without the prior consent of the CITY, which
may be withheld for any reason or no reason at the CITY'S sole discretion.
3. The CRA shall pay interest quarterly on funds loaned by the CITY at
the CITY's cash pool rate in effect from time to time until paid. The funds
loaned by the CITY shall be paid in full no later than 2 years from the
termination of this agreement.
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4. The initial term of this Agreement shall commence upon the date
hereof and shall expire on June 30, 1992. The term may be extended by the CITY
for any additional time. As used herein, "term of this Agreement II includes the
initial term and any extensions thereof.
5. During the term of this Agreement or any extensions thereof, the CRA
shall be responsible for all maintenance and operations of the subject property
and assume all associated costs, including any claims for damages suffered by any
party on the subject property.
6. In assigning this contract to the CRA, the City reserves and cancels
any parking agreements with Maas Brothers or any other previous owner of the
property.
WITNESS our hands and seals at the date first above written.
l!J;;g~
Rita Garvey
Mayor-Commissioner
By:
Approved as to form and correctness:
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M. A. Galbraith, r.
City Attorney
Attest:
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ia E. Goude-aii ..:,.... :..
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Attest:
COMMUNITY REDEVELOPMENT AGENCY OF
THE TY OF CL ARWATER
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Cy hia E. Goudeau
Se etary
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