RESOLUTION NO. 00-01
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RESOLUTION NO. 00-01
A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FLORIDA, APPROVING FIRST
AMENDMENT TO AGREEMENT FOR
REDEVELOPMENT AND DISPOSITION OF
PROPERTY FOR IMRGLOBAL CORP.; PROVIDING
AN EFFECTIVE DATE,
We, the undersigned, being all the members of the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA, a
public body corporate and politic of the State of Florida created pursuant to Part III,
Chapter 163, Florida Statutes ("Agency"), do hereby agree as follows:
WHEREAS, Agency and IMRglobal Corp., a Florida corporation, formerly
known as Information Management Resources, Inc. ("IMRglobal"), are parties to that
certain Agreement for Development and Disposition of Property - IMR-Site II dated as
of October 27, 1998 (the "Development Agreement"), a Memorandum of which dated
November 4, 1998 is recorded in Official Records Book 10299, at Page 511, of the Public
Records of Pinellas County, Florida; and
WHEREAS, IMRglobal has agreed to sell all of its rights, title and interest in and
to the property subject to the Development Agreement (the "1180 Property") to Paul
Simone or Assigns ("Simone") pursuant to that certain Agreement for Sale of Property by
and between Developer and Simone dated March 10, 2000, (the "Sale Agreement"); and
WHEREAS, on April 12, 2000, Simone assigned all of his right, title and interest
in the Sale Agreement to S & P PROPERTIES, L.C., a Florida limited liability company
("S & P"); and
WHEREAS, pursuant to the Sale Agreement and the assignment thereof, S & P
has agreed to assume all of IMRglobal's obligations as Developer under the Development
Agreement, and, in accordance with Section 15,01 of the Development Agreement,
IMRglobal and S & P have presented the First Amendment to Agreement for
Development and Disposition of Property - IMR-Site II (the "First Amendment")
attached hereto as Exhibit A for Agency's approval; and
WHEREAS, Agency desires to consent, conditioned upon the closing of the Sale
Agreement as provided herein, to the execution and delivery of the First Amendment as
well as the Confirmation of Consent attached thereto as Schedule A to Exhibit B (the
"Consent") and the Release attached thereto as Exhibit C (the "Release") upon the terms
and conditions as hereinafter set forth; now, therefore,
Resolution No. 00.01
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BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FLORIDA:
Section 1. That the Agency hereby approves the appropriate Agency officer
to execute and deliver, on behalf of the Agency, the First Amendment, Consent and
Release to IMR and S&P, subject to the following conditions and limitations:
(1) The execution and delivery of the First Amendment, Consent, and
Release by the appropriate Agency officer as contemplated herein ("Agency
Execution and Delivery") is contingent upon the closing (the "Closing") of the
sale of the 1180 Property from IMRglobal to S&P pursuant to the Sale
Agreement; accordingly, Agency Execution and Delivery shall not be deemed to
have occurred until the Closing, provided, however, the Closing must occur on or
before October 31, 2000 (the "Outside Closing Date");
(2) In the event the Closing does not occur on or before the Outside
Closing Date, the Agency approval hereby granted by this Resolution shall be
deemed automatically rescinded by the Agency without any further action
required by the Agency, and the Development Agreement shall thereafter remain
in full force and effect and unamended by the First Amendment; and
(3) In the event the Closing occurs on or before the Outside Closing
Date, the Agency approval of the First Amendment, Consent, and Release hereby
granted by this Resolution shall remain in full force and effect, and the
appropriate Agency officer shall promptly proceed with Agency Execution and
Delivery without any further action required by the Agency.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 12th day of June
,2000.
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Brian J. Aungst/'
Mayor-Commissioner
Approved as to form:
Attest:
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Pamela K. Akin
City Attorney
LJ.~
ia E. Goud(au .
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Resolution No. 00-01