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02-09-09K> t SMCRA CHAIRMAN SMCRA VICE CHAIRMAN SMCRA BOARD MEMBER SMCRA BOARD MEMBER SMCRA BOARD MEMBER SMCRA BOARD MEMBER SMCRA BOARD MEMBER 2001 74oking our Neighborhood a Great relate to Live, Work and Play" Horace G. Feliu Brian D. Beasley Velma Palmer Jay Beckman Valerie Newman Rodney Williams Lashawnda Williams GENERAL COUNCIL Eve Boutsis SMCRA SECRETARY Maria M- Menendez SMCRA DIRECTOR Stephen David SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY CRA Meeting Meeting Date: Monday February 9, 2009 Time: 6:30 PM Next Meeting Date: Monday March 9, 2009 Time: 6:30 PM 6130 Sunset Drive, South Miami, FL Phone:(305) 668 -7236 City of South Miami Ordinance No. 08 -06 -1876 requires all lobbyists before engaging in any lobbying activities to register with the City Clerk and pay an annual fee of $500.00 per Ord. No. 44 -08 -1979. This applies to all persons who are retained (whether paid or not) to represent a business entity or organization to influence "City" action. "City" action is broadly described to include the ranking and selection of professional consultants, and virtually all - legislative, quasi- judicial and administrative action. It does not apply to not - for - profit organizations, local chamber and merchant groups, homeowner associations, or trade associations and unions. CALL TO ORDER:. A. ROLL CALL: B. INVOCATION: C. PLEDGE OF ALLEGIANCE: REGULAR MEETING 1. APPROVAL OF MINUTES A) December 8, 2008* B) January 20, 2009* COMMUNITY REDEVELOPMENT AGENCY Z AGENDA - February 9, 2009 P 2. DIRECTOR'S REPORT: A) Monthly Expenditure Reports* B) 2008 -2009 Miami -Dade County Budget Approval* C) .Property Purchase Update* D) Mobley Building Construction and Mural Update* E) Marshall Williamson Park Improvements Update* F) Foreclosure Prevention Presentation* G) Red Road Commons Affordable Housing Requirement* 3. GENERAL COUNSEL REPORT A) None *Attachments PUBLIC COMMENTS (5- minute limit) CONSENT AGENDA 4. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO ATTORNEY FEES; APPROVING ATTORNEY'S FEES FOR NAGIN GALLOP FIGUEREDO, P.A., FOR INVOICES DATED DECEMBER 23, 2008 AND JANUARY 27, 2009 IN THE TOTAL AMOUNT OF $1,989.30; AND CHARGING THE AMOUNT TO ACCOUNT NO. 610- 1110 - 564 -31 -20 (GENERAL CORPORATE ACCOUNT); AND PROVIDING AN EFFECTIVE DATE: , RESOLUTIONS 5. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6477 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 010 -0070) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111930; AND PROVIDING AN COMMUNITY REDEVELOPMENT AGENCY 2 AGENDA - February 9, 2009 EFFECTIVE DATE. (Sponsored By Chairman Feliu) 6. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6487 SW 6OTH AVENUE (FOLIO NO. 09- 4025 - 010 -0080) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111931; AND PROVIDING AN EFFECTIVE DATE. (Sponsored By Chairman Feliu) 7. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6488 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 000 -0850) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111932; AND PROVIDING AN EFFECTIVE DATE. (Sponsored By Chairman Feliu) 8. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH WILLIAM MILLER AND GENEVA MILLER FOR THE PURCHASE OF 6457 SW 6OTH AVENUE (FOLIO NO. 09- 4025 -010- 0060) AND AUTHORIZING PAYMENT BY THE SMCRA FOR CLOSING COSTS ASSOCIATED WITH THE PURCHASE OF THE PROPERTY IN AN AMOUNT NOT TO EXCEED $3,500; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 583 -61 -10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. 9. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO INFRASTRUCTURE IMPROVEMENTS; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE SMCRA BUDGETED LINE ITEM FUNDING IN THE TOTAL AMOUNT OF $47,813 TO FLORIDA POWER & LIGHT TO INSTALL ENHANCED STREET LIGHTING ALONG SW 66TH STREET AS PART OF A CONTINUED INFRASTRUCTURE IMPROVEMENT INITIATIVE IN THE SMCRA AREA; 'AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 -513- 63 -40 (INFRASTRUCTURE/ STREET LIGHTING IMPROVEMENTS) ; AND PROVIDING AN EFFECTIVE DATE. COMMUNITY REDEVELOPMENT AGENCY 3 AGENDA - February 9, 2009 10. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO COMMERCIAL BUSINESS REHABILITATION; AUTHORIZING ADOPTION BY THE SMCRA BOARD OF SPECIFIC GRANT CRITERIA AND ELIGIBILITY REQUIREMENTS FOR THE SMCRA FACADE GRANT PROGRAM; AND PROVIDING AN EFFECTIVE DATE. 11. A RESOLUTION OF THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO BOARD MEMBER DISCRETIONARY FUNDS; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE FUNDING IN THE AMOUNT OF $500 TO THE MARTIN LUTHER KING PARADE COMMITTEE TO ASSIST WITH PARADE EXPENSES ASSOCIATED WITH THIS YEAR'S ANNUAL MLK /BLACK HISTORY PARADE; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 554- 99 -25, BOARD MEMBER DISCRETIONARY FUNDS (BOARD MEMBER NEWMAN); AND PROVIDING AN EFFECTIVE DATE. BOARD COMMENTS ADJOURNMENT INAKENl MENE MKE BOHOE 7NAT NOflOA ".104( :) Of =8 OWE Of ONDIRABOEI rIt017DE1 7W" "111/1' MIU0I NAN M PENIOAAI INFENH1AEAT. ON iNfiDENODI NENANKI ON NI/O INAA MOONE 50inYNOW NNI/E ADDNEll1l16 Mir 000011.0011 INAl1 AE 10MIFIM AANNED nWO NNINEN AI/DIEAQE MfONE ME OODAOII W fl1E MUIDING OMOEN. OA/EII IENNUJ/OA70 00A1/AI i AE Gmmo ffa NA/ONT' 1'01E Of THE OmmifflOII." PURSUANT TO FLA STATUTES 286.0105, "THE CITY HEREBY ADVISES THE PUBLIC THAT IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THIS BOARD, AGENCY OR COMMISSION WITH RESPECT TO ANY MATTER CONSIDERED AT ITS MEETING OR HEARING, HE OR SHE WILL NEED A RECORD OF THE PROCEEDINGS, AND THAT FOR SUCH PURPOSE, AFFECTED PERSON MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. THIS NOTICE DOES NOT CONSTITUTES CONSENT BY THE CITY FOR THE INTRODUCTION OR ADMISSION OR OTHERWISE INADMISSIBLE OR IRRELEVANT EVIDENCE, NOR DOES IT AUTHORIZE CHALLENGES OR APPEALS NOT OTHERWISE ALLOWED BY LAW. COMMUNITY REDEVELOPMENT AGENCY 4 AGENDA - February 9, 2009 3001 "Making our Neighborhood a Great Place to Lrve, Work and Play" To: Honorable Chair and Date: February 9, 2009 SMCRA Board Members From: Stephen David, ITEM No. SMCRA Direct MONTHL Y EXPENDITURE REPORTS Attached as Exhibits A thru D are the monthly expenditure reports for September, October, November and December 2008. Please note that the monthly expenditure report for the final .month of the prior fiscal year (September 2008) is in draft format until such time as the City of South Miami's annual audit is completed and all financial reconciliations have been determined. Attachments: September 2008 Expenditure Report October 2008 Expenditure Report November 2008 Expenditure Report December 2008 Expenditure Report SUMCGRUMPLANNINMCRA \Monthly Expediture Reports.doc H rh um , Off ,' Am E� �U a w A w U z w A AA. a 00 0 0 N zzww un a w 01 co I A I W W I o o O o 0 0 I o m I m o 0 0 0 o wo w O I NU I o O O O O O O 00 O O O O O O Mo Ol N I F-Il`y I O ri In 111 Ol N ri r O r OD 00 ri O N w H O Ln . 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M%* KA 2001 "Making our Neighborhood a Great Place to live, Work and Play" To: Honorable Chair lo SMCRA Boar embers From: Stephen Date: February 9, 2009 ITEM No. MIAMI -DADE COUNTY COMMISSION BUDGET APPROVAL During the January 22, 2009 Meeting of the Miami -Dade County Commission, the Commission unanimously approved Resolution No. R -39 -09 authorizing the expenditures contained in the 2008 -2009 SMCRA Budget (See Exhibit A). The Agency previously received unanimous recommendations for approval for the FY 08/09 Budget by the Miami - Dade County Tax Increment Financing Committee (TIF) on November 19, 2008 and by the Economic Development and Human Resources Committee (EDHS) on December 10, 2008. Based on the January 22nd County Commission approval of the FY 08/09, the total 08/09 Tax Increment Revenues received from Miami -Dade County this year are $719,472. Attachments: January 22, 2009 County Commission Meeting Minutes January 22, 2009 County Commission Meeting Agenda Item (SMCRA 08/09 Budget Approval) SD /MCGRUFF \PLANNING \CRA \Miami -Dade County Commission Budget Approval.doc Miami -Dade Commission Minutes Legislative Survey Disclaimer EXHIBIT A DRAFT Miami -Dade Board of County Commissioners Minutes Thursday, January 22, 2009 As Advertised Commission Chambers Minutes Definitions Members Present: Barbara J. Jordan; Dorrin D. Rolle; Sally A. Heyman; Bruno A. Barreiro; Rebeca Sosa; Carlos A. Gimenez; Katy Sorenson; Dennis C. Moss; Sen. Javier D. Souto; Joe A. Martinez; Jose "Pepe" Diaz; Natacha Seijas Members Absent: Audrey M. Edmonson Members Late: None Members Excused: None Members Absent County Business: None 1A MOMENT OF SILENCE 1B PLEDGE OF ALLEGIANCE 1C ROLL CALL 1D REPORTS OF OFFICIAL BOARDS 1E CITIZEN'S PRESENTATIONS (5 MINUTES MAXIMUM) 1E1 Citizen's Sally A. 090068 Presentation Heyman CITIZEN'S PRESENTATION, BY Presented ROBIN REITER, CHAIRPERSON OF THE BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM'S CITIZENS' ADVISORY COMMITTEE REGARDING THE PROGRAM'S PROGRESS http:// www. miamidade .gov /govaction/commminute .asp ?cmbmeetdate = 2636 &file =false 1/27/2009 Miami -Dade Commission Minutes Page 25 of 58 81-16 81_1 C of Strategic Business Management) 12/10/2008 Forwarded to BCC with a favorable recommendation by the Economic Development and Human Services Committee 083482 Resolution RESOLUTION APPROVING THE BUDGET FOR FISCAL YEAR 2008- 09 FOR THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY(Office of Strategic Business Management) 12/10/2008 Forwarded to BCC with a favorable recommendation by the Economic Development and Human Services Committee 090044 Resolution Adopted Resolution R -39 -09 Mover: Katy Sorenson Seconder: Dennis C. Moss Vote: 12 - 0 Absent. Edmonson RESOLUTION AMENDING FY 2007- Amended 08 COUNTYWIDE GENERAL FUND AND UNINCORPORATED MUNICIPAL SERVICE AREA GENERAL FUND BUDGETS [SEE AGENDA ITEM NO. 5P](Office of Strategic Business Management) REPORT: It was moved by Commissioner Heman that the foregoing proposed resolution be adopted as amended. This motion was seconded by Vice Chairman Diaz, and upon being put to a vote, passed by a vote of 12 -0. (Commissioner Edmonson was absent) The amended version has been assigned Resolution #R -40 -09 PARK AND RECREATION 8M DEPARTMENT 8M1A 083393 Resolution RESOLUTION AUTHORIZING THE Adopted EXECUTION OF AN EASEMENT TO Resolution R -41 -09 FLORIDA POWER AND LIGHT Mover: Katy Sorenson COMPANY FOR THE INSTALLATION Seconder. Dennis C. Moss AND MAINTENANCE OF ELECTRIC Vote: 12 -0 FACILITIES AT THE BILL BIRD Absent: Edmonson MARINA IN HAULOVER PARK(Park http:// www. miamidade .gov /govaction/commminute. asp ?cmbmeetdate = 2636 &file =false 1/27/2009 Legislative Matter Page 1 of 4 Miami -Dade Legislative Item File Number: 083482 Printable PDF Format Reader' Clerk's Official Copy File Number: 083482 File Type: Resolution Status: Adopted Version: 0 Reference: R -39 -09 Control: Board of County Commissioners File Name: SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY Introduced: 12/1/2008 Requester: Office of Strategic Business Cost: Final Action: 1/22/2009 Management Agenda Date: 1/22/2009 Agenda Item Number: 81_1B Notes: EG Title: RESOLUTION APPROVING THE BUDGET FOR FISCAL YEAR 2008 -09 FOR THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY Indexes: REDEVELOPMENT Sponsors: NONE Sunset Provision: No Effective Date: Registered Lobbyist: None Listed Acting Body Date Board of County 1/22/2009 Commissioners Economic Development 12/10/200 and Human Services Committee County Attorney 12/1/2008 County Manager 12/1/2008 Legislative History Expiration Date: Agenda Action Sent To Due Date Returned Pass /Fail Item 81-1 B Adopted P 3 3F Forwarded to BCC with P - a favorable recommendation Assigned Martin W. Sybblis 12/4/2008 Assigned Cynthia Curry 12/1/2008 County Manager 12/1/2008 Assigned County Attorney 1/20/2009 REPORT: OSBM(EDHS- 12/10/2008,THIS ITEM WAS ASSISTED BY MARTIN SYBBLIS) County Manager 12/1/2008 Referred Economic 12/10/2008 Development and Human Services Committee http:// www .miamidade.gov /govactionlmatter. asp? matter = 083482 &file= true &yearFolder =Y2008 2/3/2009 Legislative Matter Legislative Text TITLE RESOLUTION APPROVING THE BUDGET FOR FISCAL YEAR 2008 -09 FOR THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY Page 2 of 4 BODY WHEREAS, the Interlocal Cooperation Agreement between Miami -Dade County, Florida (the "County "), the City of South Miami (the "City "'), and the South Miami Community Redevelopment Agency (the "Agency ") requires that the City and Agency transmit its adopted annual budget to the Board of County Commissioners of Miami -Dade County, Florida (the "Board ") for approval; and WHEREAS, this Board desires to approve the Agency's adopted annual budget for Fiscal Year 2008 -09 for the South Miami Community Redevelopment Area in the form attached hereto as Exhibit I and incorporated herein by reference; and WHEREAS, this Board desires to accomplish the purpose outlined in the accompanying memorandum, a copy of which is incorporated herein by reference, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI -DADE COUNTY, FLORIDA, that: Section 1. The matters contained in the foregoing recitals are incorporated in this Resolution by reference. Section 2. This Board approves the Agency's annual adopted budget for Fiscal Year 2008 -09 related to the South Miami Community Redevelopment Area in the form attached hereto as Exhibit I. HEADER Date: To: Honorable Chairman Bruno A. Barreiro and Members, Board of County Commissioners From: George M. Burgess County Manager Subject: FY 2008 -09 Budget for the South Miami Community Redevelopment Agency STAFF RECOMMENDATION It is recommended that the Board of County Commissioners (BCC) adopt the attached resolution approving the South Miami Community Redevelopment Agency's (CRA's) FY 2008 -09 budget for the South Miami Community Redevelopment Area (the "Area "). The CRA's budget includes revenues and expenditures in the amount of $3,147,600. Scope of Agenda Item This resolution provides the appropriation of tax increment funds derived from the South Miami Community Redevelopment Area. The Area lies within Commission District 7. http:// www. miamidade .gov /govaction/matter.asp ?matter= 083482 &file= true &yearFolder =Y2008 2/3/2009 Legislative Matter Fiscal Impact / Funding Source Page 3 of 4 The CRA's revenue source is generated through the incremental growth of ad valorem revenues beyond an established base year, Tax Increment Financing (TIF), as defined in Section 163.387 of the Florida State Statutes. County tax increment revenues total $719,472. Track Record / Monitor This resolution does not provide for contracting with any specific entity. The resolution approves the CRA's FY 2008 -09 Budget. MANAGER'S BACKGROUND Background On June 16, 1998, the BCC approved the establishment of the CRA when it approved the CRA's Community Redevelopment Plan (Plan) pursuant to Resolution R -99 -100 and the funding of the Plan when it enacted Ordinance No. 98 -80 (Trust Fund). An Interlocal Agreement between Miami -Dade County and the South Miami CRA was also approved by the BCC on September 9, 1999, and later amended through Resolution R- 327 -04. The Interlocal Agreement requires the CRA to submit for County approval an annual budget for the implementation of the Plan. It is recommended that the BCC approve the CRA's FY 2008 -09 budget of $3,147,600 which was approved by the CRA on September 29, 2008 and by the City of South Miami on October 7, 2008. The budget includes revenue sources of County Tax Increment Revenues ($719,472) and City Tax Increment Revenues ($797,299), carryover from prior years ($1,519,329), projected rent revenues from CRA owned properties ($100,000), and $11,500 of interest earnings. Administrative expenditures total $275,354 and represent 18.3 percent of the total tax increment revenues, excluding the 1.5 percent County Administrative Charge of $10,872, satisfying the 20 percent cap in administrative expenditures required by the Interlocal Agreement. Operating Expenditures total $2,829,374, including: • $1,130,059 for acquisition of vacant, slum, and blighted properties; • $420,000 for building construction and improvements of the 6,426 square feet CRA owned Mobley Building; • $312,500 for contractual services including the construction of a commercial parking lot, traffic calming, drainage, park and general infrastructure improvements; • $297,774 for debt service payments; • $231,805 to be transferred to the City of South Miami for community policing ($120,424), code enforcement ($74,075), and City of South Miami administrative support services ($37,306); • $207,500 for infrastructure improvements such as the construction of a commercial parking lot and traffic calming, drainage and intersection improvements; • $116,236 for other miscellaneous line items totaling include insurance, legal services and other operating expenses; and • $113,500 for redevelopment grants. Additionally, the CRA budget includes a contingency reserve of $32,080. . The Tax Increment Financing Coordinating Committee reviewed the CRA's budget on November 19, 2008 and unanimously recommended it for BCC approval. Cynthia W. Curry Senior Advisor to the County Manager http:// www. miamidade.gov /govaction/matter. asp? matter = 083482 &file= true &yearFolder =Y2008 2/3/2009 7001 "Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and Date: February 9, 2009 SMCRA Board Uembews From: ITEM No. to PROPERTY PURCHASE UPDATE During the November and December 2008 Meetings, the Board approved purchase of the following blighted and distressed properties: • 6457 SW 601h Avenue • 6477 SW 60th Avenue • 6487 SW 60th Avenue • 6488 SW 60th Avenue Based on a preliminary title analysis by SMCRA closing attorney it has been determined that the process of probate must be completed to determine legal ownership of three of the four properties listed above (6477 SW 60th Avenue; 6487 SW 60th Avenue; and 6488 SW 601h Avenue). Three resolutions have been included on tonight's agenda to extend the previously approved closing date for final purchase. It is anticipated the process of probate shall be completed within two to three months following the proposed contract extension. Regarding 6457 SW 60th Avenue, there are no apparent issues with the property title. However a resolution has been included on tonight's agenda to amend the previously approved contract so that the buyer not the seller is responsible for all required closing costs. It is anticipated that a final closing on the property shall be scheduled shortly afterward. Attachments: . Legal Detennination Letter Regarding Probate Requirement Legal Detennination Letter Regarding Additional Closing Cost Estimate SD /MCGRUFF \PLANNING \CRA \Property Purchase Update.doc I 2001 "Making our Neighborhood a Great Place to live, Work and Way" To: Honorable Chair and Date: February 9, 2009 SMCRA Board From: Stephen avid, ITEM No. D SMCRA Direc MOBLEYBUILDING CONSTRUCTION & MURAL UPDATE Staff is currently awaiting the issuance of building permits to complete interior and exterior construction of the Mobley Building. During the permit approval process and because the building was constructed prior to current land -use codes, it was determined by the Planning Department that variances shall be required for relief of three required parking (3 spaces) and also for a reduced landscape buffer on the eastern edge of the site. Staff subsequently applied on behalf of SMCRA for each variance which is scheduled to be heard by the Planning Board on February 24, 2009 and the City Commission on March 14, 2009. Pending variance approval, contractor selection and actual construction on the building shall commence. It should also be noted that based on Board authorization, the mural on the western elevation of the building was painted. on the January 31, 2009 by University of Miami students (See Exhibit A). The students intend to revisit the site to incorporate the sports theme previously authorized by the Board. Attachments: Mobley Building Mural Painting Photos SD /MCGRUFF \PLANNING \CRA \Mobley Building Construction & Mural Update.doc aa- amenrac6m ® 4 MCR 30Dt ;)u' Af7 :iOhboriiood o - Gri- cr6'l7te to Lkip, A"orr; Of]t? P 7t.` To: Honorable Chair and SMCRA Board. Meml From: Stephen David, SMCRA Director EXHIBIT A`i Date: November 10, 2008 ITEM No. MOBLEYBUILDING RENOVATION UPDATE The SMCRA owned Mobley Building is currently undergoing an extensive renovation of the buildings interior and exterior elevations. Staff anticipates submission of construction drawings for permitting by the end of this month. Following the submission of construction drawings, contractor selection shall commence as part. of a scheduled bid process. During the June 2008 Meeting, the Board also authorized the painting of a specific mural as part of the overall building improvements (Exhibit A). Following the June Meeting, staff was approached by art students from the University of • Miami who have volunteered to paint the proposed mural. Based on the originally approved mural design the proposed University of Miami design is slightly different (Exhibit B). Prior to authorizing the actual painting of the mural, the slightly altered design has been brought back to the Board for any final input and or suggestions. • Attachments: SMCRA Board Authorized Design — June 2008 University of Miami Proposed Design SD /MCGRUFF\PLANNING \CRA\Mobley Building Renovation Update.doe 0 4-r O O N 00 C� c u O O + O Uco cd 3 O y," Z .C6 Q b4 0 0 m m m r, +-, m m m t' I a� bA Cd p U +� W cd 0 �, oLn o 00 y o oo��o O a" ® LF-4� ® 0 0 bf) ° 00 0 00 H �O 00 0 0 .c cd o O 0 s.4 00 o cd 00 +� b .y U ^CJ Cd m4 ¢o Cd m Q� � bo U o o et r + O N � r-4 00 i Cd 0 4-r O O N U A O y," Z .C6 Q b4 M m m m m m m m a� bA cd 0 O w O a" ° 00 0 00 00 00 00 0 0 U cd U ^CJ Cd Cd ¢o Cd m � U U o o et r + to to oo ® r-4 00 kn C1 CN 00 pq O O O W 4- N N � Cd N o bA U V b0 O C/1 O O U b a301 k L? k 1• • m 00 c I I VO 4120M%olliffit 2001 "Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and SMCRA Boarn From: StephedDavid, Date: February 9, 2009 ITEM No. MARSHALL WILLIAMSON PARK LIGHTING IMPROVEMENTS UPDATE The Board recently authorized Benson Electric to install enhanced security lighting in the Marshall Williamson Park for a total contract amount of $60,633. As authorized, enhanced lighting shall be provided in both the park interior and within the existing tennis courts location. Improvements shall, include the installation of lighting according to the scope of work provided as Exhibit A. Attached as Exhibit B is a project update including a timeline for final completion of the project. Based on these additional security improvements as well as a result of increased police surveillance at the park, planning for the SMCRA budgeted activity room/concessions building at Marshall Williamson Park may now commence. Attachments: Authorized Scope of Work Project Report Letter from Benson Electric SD /MCGRUFF \PLANNING \CRA \Marshall Williamson Park Lighting Improvements Update.doc • • U J ®b Proposal Benson Electric, Inc. 10475 SW 180 Street Miami, Florida 33157. (305) 235 -6741 Fax (305) 235 -4690 Proposal submitted to: CITY OF SOUTH MIAMI 6130 SUNSET DR. SOUTH MIAMI FL 33143 ATT: JAMES MCCANTS LEXHIBIT A' Project Name: MARSHALL WILLIAMSON PARK - LIGHTING IMPROVEMENT @ SW 61 COURT PH: 305- 668 -7237 FAX: 305- 668 -7356 EMAIL: JMCCANTSRCITYOFSOUTHMIAMI.NET Proposal Specification: We are pleased to provide you with a proposal to perform electrical work for the project referenced above. Our proposal is based on the following, We appreciate the opportunity of providing you with this proposal. Please do not hesitate to call if you have any questions regarding our proposed scope. Estimate to furnish and install materials necessary to add more lighting to existing park walkway as per plans and specification which includes the following, 1. Nine new 175watt metal halide fixtures on four inch square, 12ft metal poles with hand hole and 4ft in ground concrete bases. 2. Trench throughout park to install new conduits between poles and to existing electrical room. 3. One new 20amp, 240volt circuit controlled by a time clock from existing panel to existing underground junction box which connects to the new lights. 4. Several sections of the walkway to be cut and repaired to meet needs for trenching and installation of the underground pipes. 5. Electrical permit. Notes: Does not include any patching or painting. Not responsible for any violation or fees inspector may find not related to work being performed. All work will be done during normal working hours. Not responsible for any unforeseen hidden obstructions. If job is cancelled there will be $150.00 fee and 20% restocking on all materials if already ordered. We propose to furnish materials and labor in accordance with the specification above for the sum of $47,220.00 This proposal maybe withdrawn by us if not accepted within 30 days. Payment terms: 50% down payment, balance due upon completion. All materials are guaranteed to be as specified. All work to be completed in a workmanlike manner according to standard practices. Any alteration or deviation from the above specification involving extra costs will be executed only upon the issuance of written change orders, and will become an extra charge over and above the estimate. All agreements are contingent upon strikes, accidents or delays beyond our control. Owner to carry fire, tornado and other necessary insurance. Our workers are fully covered by Workman's Compensation Insurance Authorized Signature Acceptance Signature Benson Electric, Inc he above prices, specifications and conditions are Everton Williams satisfactory and are hereby accepted. You are hereby authorised to proceed with the work as described. Payment shall be as specified. PROPOSAL Benson Electric, 111c. 10475 SW 1860 Street Miami, lF)Drida 33157 • (305) 235 -6741 Fax (305) 235 -4690 ECO000025 CC0360 U • Proposal submitted to. Project Nam u, Tennis coum (;a SW 62 Ct. City of So Miami PH: 305- 796 -2536 ATTN: James MCCants FAX: 305 -668 -7356 6130 Sunset Dr. So. Mice.. FL 33143 September 9, 2008 We hereby submit an estimate for furrl shing electrical materials and labor necessary for the following electrical work: 1. Run new conduit between existing concrete poles underixound on south side of tennis court. 2. Run new conduit on surface from existing junction box to junction box at top of concrete pole for power to light fixtures. 3. New. service on rack system which includes one 125 amp single phase meter can, one 60 amp 12 circuit capacity panel and all necessary circuits. Two time clocks 240 volt (lighting contractor) 4. New service conduit from rack to concrete pole with FPI, transformer. (owner to repair sidewalk). 5. includes electrical permit. Does not i-aclude any engineer drawings or fees if required by the permit department. NO'T'ES: Not responsible for patebing or painting. Not responsible for violations or fees the insp !ctor may find. All work to be done during normal working hi)u;rs. Not responsible for any unuforeseern bidden ob::tructions. If j ob is cancelled there will be $150.00 fee and 20% restocking on all materials if already ordered.. We propose to furnish materials and labor in accordance with the specification above for the sum of $13,413.00. This proposal may by withdrawn by us if not accepted within. 30 days. Payment terms: 50% down payment, and balance due upon job completion. Alt materials are gnaranteed to be as specified. All work to be completed in a workmanlike i nanner according to standard practices. Any alteratJoi) or deviation froth the above specification involving extm costs will be executed on y upon the issuance of wrjttm change orders, and will become an extra charge over and above the estimate. All agreements ate colitingont rrpa n strikes, accidents or delays beyond our control - Owner to carry fire, tornado and other Accessary insurance, Chrr workers are filly covered b) Workman's Compensation Insurance Authorized Signature Acceptance Signature Ever•ton ,fl. Williams Benson Electric. Inc. no above prices. spceifieatiwt and conditions am satisfactory and are hereby accepted. You are bercby authoJi and to proceed with the work as described. paymontshall be as specified. m a—oC a � o _ ol w 44noS do Al-!D ZkM m C SVOlMO-ld INVM Hi-nos C UOSWD.III!M IIDySJDW ¢ w a • au.�� o� UD��NtBUO] •Oy r- L w_o CN zo a mN W oM J e� Na ~ Z O ' • �jlpE: " w �� m 3 W r- Benson Electric, Inc. 10475 S.W. 1S6 H STREET MIANi'I, FLORIDA 33157 City of South Miami South Miami Redevelopment Agency 6130 Sunset Dr South Miami, Fl 33143 Att: James McCants San 30, 2009 WORK STATUS ELECTRICAL. CONTRACTOR EC0000025 Cc 0360 Member NE+CA EXHIBIT B Marshall Williamson. Park 1. All underground work is completed. 2. All conduits are run with pull strings from panel to pole locations. 3. All junction boxes with ground rods where poles will be are installed are complete. 4. Presently all pole bases for new poles are being made — 2wks approx. for delivery. 5. All poles and fixtures are stored at office. 6. Final inspection need upon completion. 7. Projected completion date mid Feb 2009. Tennis Courts 1. All underground work should be completed by Friday Jean 30, 2009, 2. New underground service, conduit ,pull string, panel and ground rods are installed 3. Need underground inspection next week. 4. fight fixtures are stored at office. 5. Need final inspection before power to service can be turned on. 6. Projected completion date mid Feb 2009. Thank you Everton Williams Project Manager APO' 2001 "Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and SMCRA Board Members From: Stephen/,David, SMCRA Directo Date: February 9, 2009 ITEM No. FORECLOSURE PREVENTION PRESENTATION During the December 16, 2008 City Commission Meeting, the BMJ Community Development Organization provided a presentation to the Commission regarding professional loss mitigation services as a means to assist potential residents with impending housing foreclosure. According to the BMJ Organization, their goal is to utilize advanced loss mitigation techniques to work out an agreement between the homeowner and the lender that will stop foreclosure proceedings permanently (See Exhibit A). The BMG Organization subsequently presented to the City's Affordable Housing Committee on January 16, 2008. During the January 16th Meeting the Affordable Housing Committee recommended that some type of foreclosure mitigation program be investigated by the City of South Miami and or by the South Miami Community Redevelopment Agency. During tonight's meeting, the BMJ Organization will present the benefits of their services to the SMCRA Board. Attachments: BMJ Organization Summary of Services SD /MCGRUFF \PLANNING \CRA\BMG Foreclosure Prevention Presentation. doc EXHIBIT A f BMJ Community Development, Inc a not- for - profit 501© 3 December 4, 2008 rU'w-- puo-- s a I f r Emergency Loss Mitigation Intervention Services For the City of South .Miami . residents facing foreclosure of their homes. www.LetsGe'tHelpNow.com Bernard WH Jennings, Executive Director 305 - 677 -2226 Phone Fax 1- 888 - 735 -8349 520 NW 1651h Street #112 . 3006 Aviation Avenue Ste 4B Miami, F133169 Coconut Grove, FI 33133 1313 NE 12 Fh Street Miami, Florida 33162 1320 NW 13Y 'St St Miami, F133167 I. SUMMARY ...........................................................................................:....... ..............................4 II. INTRODUCTION ........................................................................................ ............................... 5 III. NEEDS /PROBLEMS .................................................................................... ..............................7 IV. GOALS / OBJECTIVES ................................................................................. ..............................8 V. PROCEDURES /SCOPE OF WORK ........................................................... ..............................8 VI. TIMETABLE ................................................................................................ ..............................1 1 VII. BUDGET ..................................................................................................... .............................11 VIII. KEY PERSONNEL ......................................:................................................ .............................13 IX.. EVALUATION ............................................................................................. .............................13 X. ENDORSEMENTS ....................................................................................... .............................13 XI. NEXT STEPS ................................................................................................ .............................14 XII. APPENDIX .................................................................................................... ............................... Page 2 of 11 I. Summary Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession, of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which - varies from state to . state, which determines hoW long the foreclosure process can take. -These losses impact county and municipal governments financially as,well. If'the homeowner ` cannot pay their mortgage, they usually do not pay their property taxes. Municipalities and School Systems rely on these funds to operate. BMJ Community Development is committed to providing Loss .Mitigation Services to . assist families in maintaining their homes. We are a team of trained professionals that will work one on one with homeowners. Our goal is to utilize advanced loss mitigation . techniques to work out an agreement between the homeowner and the lender that will stop - foreclosure proceedings permanently. This allows the homeowner to stay in their home and protects their credit history. We have several offices, and a mobile unit that is ready to be dispatched to the City of South Miami if necessary. With present day technology i.e. internet, email, fax etc, we are accessible to every homeowner who may need our services whom we can financially accommodate. . We are requesting that the City of South Miami provide Emergency Funding to BMJ Community Development to Help us extend our outreach to, accommodate homeowners save their properties in City of South Miami whereby we can attempt to lower the foreclosure rate by 15% to 30 %. We are requesting a funded budget of $100,650 dollars. This amount will accommodate 183 homeowners with Loss Mitigation assistance, with no further cost from us to the homeowner directly. The City of South Miami has a great need for our services. Number of Foreclosures Unemployment Rate Current Vacancy Rate Average Property Tax *Estimate by RealtyTrac, Yahoo Real Estate, Trulia.com 569(+/-) 5.5% 6.2% . $3,459.89 Page 3 of 11 II. Introduction BMJ Community Development, Inc. A not - for - profit 501© 3. Founded over ten (10) years ago, BMJ Community Development, Inc. has been engaged in creating new opportunities -- primarily related to affordable housing, small businesses, and jobs- -that specifically benefit lower- income neighborhoods and populations. Such efforts are typically conducted through community development corporations (CDCs) and other organizations whose primary purpose is to help meet the credit, housing, and economic development needs of low- and moderate - income communities. Because CDCs are mission -driven organizations created to promote community revitalization, they are often well positioned to engage in development activities in the absence of private investment. Great diversity exists in CDC ownership affiliations, ranging from banks to faith -based entities. BMJ Community Development, Inc. has helped many families save their homes from foreclosure. With the right help, virtually any foreclosure. situation can be successfully resolved. When facing foreclosure Time is of the Essence. Homeowners MUST act fast to protect their rights and stop foreclosure. Many people who need foreclosure assistance simply do nothing and hope for a miracle. This is why we need to be proactive by reaching out to these homeowners before it is too late. Due to advanced technology, BMJ Community Development is not limited to a single geographic location to provide foreclosure assistance. We are able to provide several alternatives to foreclosure. These alternatives are explained in detail to each homeowner during an in- person or telephone consultation. Not all alternatives are available to all mortgage scenarios. We are trained to make sure we concentrate only on those alternatives for which the homeowner qualifies. In order to identify the best alternative available to the homeowner, we must communicate both openly and honestly. To be eligible to exercise any of the alternatives to foreclosure, other than reinstatement, the homeowner must demonstrate compliance with all requirements as determined by the investor /lender, at their sole discretion. If the property is already in foreclosure we can help stop this action'by communicating with the lender, creating a payment plan and using available programs to assist the homeowner in bringing their mortgage current. To maintain property ownership the borrower has to be eligible. The borrower proves eligibility to the satisfaction of the investor /lender, in their sole discretion. The borrower justifies that a hardship exists, that their budget will permit them to maintain future monthly payments, and that they will meet any other requirements of the investor /lender. Page 4 of 11 III. Needs /Problems Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which varies from state to state, which determines how long the foreclosure process can take. Bank foreclosing on a home is one of the biggest nightmares for any homeowner and Miami seems be reeling under a long spell of foreclosure nightmare. Foreclosures in the state of Florida started to rise since 2005 and since then it has been taking huge leaps every year and here are some comparison statistics for Miami -Dade: Foreclosure Auctions: Miami contributed to the national average recording some of the highest rate of foreclosures by state in 2008. The county that recorded an increase in foreclosures is Miami -Dade County where the number of foreclosure auctions in April 2008 was 882, which is a jump of 8.75% from March 2008. In March 2008, 811 foreclosed houses in Miami -Dade County were auctioned and this is a jump of almost 160% since April 2007 when number of foreclosures auctioned was 339. Foreclosure filings in Miami - Dade are currently averaging at almost 800 per day. Nationally, nearly 7.3 million Americans are expected to default on their loans between 2008 and 2010, 1.2 million of them in Florida, according to Moody's Economy.com. In short, that means one (1) out of five (5) homes in Miami -Dade County will be facing foreclosure. The total number of foreclosure auctions in Miami -Dade County in the first quarter of 2008 was 2231 as compared to 8877 in Los Angeles, 918 in New York City, while Seattle recorded a low of 385. In Miami -Dade the foreclosure auctions scheduled in the first quarter of 2008 increased by a whopping 126% as compared to the first quarter of 2007. The foreclosures in Miami per household in 2008 were very high and were almost 5 times higher as compared to Seattle and 9 times higher than New York City. As a result on one hand investors are having a great time buying great homes at a low price while homeowners are paying a heavy price for taking out Adjustable Rate Mortgages to buy their dream homes. Rising unemployment is now contributing to a new wave of homeowners experiencing mortgage difficulties, in addition to borrowers whose adjustable -rate loans are resetting to unaffordable levels. To stem the flow, the Treasury Department has announced a new plan to restructure loans for what it expects to be hundreds of thousands of borrowers in a streamlined modification process through Fannie Mae and Freddy Mac. (Foreclosure Connections Blog, November 2008) Obviously, local government must be involved and assist as well. Page 5 of 1 1 IV. Goals /Objectives The goal of loss mitigation is to work out an agreement between the homeowner and the lender that will stop foreclosure proceedings permanently. This allows the homeowner to stay in their home and protects their credit history. BMJ Community Development, Inc. specializes in resolutions of mortgage delinquencies or home foreclosure claims on behalf of the homeowner. We perform a detailed financial analysis and work with them to determine their best alternatives. We review the lenders loss mitigation policies and state's foreclosure law to make sure that we give homeowners the best service within the context of their situation. By working with homeowners and their lender we can tailor a resolution to meet the homeowners specific criteria and financial circumstance. We do all of this quickly and effectively because we have combined experience of over 30 years in the Real Estate and Mortgage industry. Our Executive Director has received direct training from the Department of Housing & Urban Development (HUD). In January of 2001 The U.S. Department of Housing and Urban Development (HUD) issued guidelines mandating that all borrowers with FHA loans that fall under HUD regulations be informed of their rights to mortgage loan work out programs. See HUD ML2002 -12. The Veteran's Administration (VA) also has a great many entitlements that can keep a Veteran out of foreclosure. Some home - owners may be entitled to federally mandated FHA/HUD or VA loss mitigation assistance from their lender to stop foreclosure by: • Reducing borrower interest rate • Extending the time to pay back mortgage loan • Putting past due payments into the balance of the mortgage loan • Putting the past due payments on to the end of mortgage loan • Arranging for existing lender to provide a Partial Claim (2nd loan covering the arrearage) • Extended time to Sell their house for less than they owe the bank • Giving the house to the bank or the government in exchange for what they owe • Federal Protection to immediately stop the foreclosure by filing 3 sheets of paper(last resort) V. Procedures /Scope of Work Each homeowner will be consulted and one of two (2) objectives will be determined. 1) Is the homeowner interested in maintaining homeownership? Or 2) Is the homeowner not willing or unable to maintain ownership? Page 6 of 1 1 If they are unable or unwilling to maintain ownership of their home, the following are alternatives to foreclosure to consider. • Deed -In -Lieu of Foreclosure • Pre - Foreclosure /Short Sale or Sale In order to pursue these options, they will need to prove to the satisfaction of the investor, in their sole discretion, that a hardship exists. In addition, a contribution toward any loss to the investor may be required, as well as compliance with and additional requirements of the investor. In some instances, lenders will offer homeowners -"Cash for keys ". We will provide a referral to homeowners who deem to list their properties for sale in the market and work with their lenders to provide them an additional period of time to do so. We are not realtors or real estate agents or brokers and will not participate in these sales transactions. When the desire is to maintain homeownership, we will gather from the homeowner/borrower the appropriate financial information as required by their lender. The Standard Financial Package contains the following: 1. Hardship Letter- a letter and supporting documentation outlining the events which have caused the difficulty in maintaining monthly housing payments. 2. Income Tax Returns- the most recent two years 3. Income- the most recent months, pay- stubs, child support awards letters, social security, disability, etc. 4. Bank Statements- the most recent two month's bank statements, including checking and savings accounts. 5. Financial Analysis- completed Financial Analysis Form. The form is provided to all homeowner clients at time of consultation. The Financial Analysis Form will be reviewed with the homeowner and the appropriate adjustments will be recommended to balance the homeowners personal budget. This aspect is critical to the acceptance of an appropriate workout plan by the lender. Once the lender agrees to a Loss Mitigation Plan the homeowner will be notified. Any Modifications will be notarized by our staff and appropriately returned to the lender based upon their guidelines. Due to the varying types of sub -prime mortgage loans, some lenders are prohibited from providing Loan Modifications. This will only allow payment plans that make the payments even more expensive. As necessary; we will refer these homeowners for Federal Court assistance by them filing a Chapter 13. These recommendations will be made by our in- house corporate attorney. Page 7 of 11 VI. Timetable Once a perspective homeowner is consulted with, under regular circumstances, it can take 30 to 45 days for acceptance into a lenders workout.plan. Phase One — encompasses the initial consultation where a Loss Mitigation Application, Acknowledgement and Authorization Form. is completed including the completion of the Financial Analysis Form. Phase Two- the borrower has the responsibility to provide copies of all documents requested to complete the Financial Package for submission to the lender. This Phase may take additional staff follow -up due to the homeowners/borrowers reluctance /procrastination or. frustration or stresses over their present dilemma. These documents are needed to complete the Financial Analysis. Phase. Three- the Financial Analysis is utilized to access debt to income ratios and make recommendations to the homeowner/borrower about their personal expenditures. This recommendation may be made in an in- person meeting or over the telephone. Once the homeowner/borrower has a clear understanding and agrees to the formula and process, the Financial Package will be completed. Phase One Initial Consultation & Application 45 to 90 minutes .......... ....................................... .............. _ ... ................ ...... . Phase Two Document Compilation & Financial Analysis 1 to 7 days Package Preparation, Recommendation &� Phase Three ! Submission to Lender & Response 3 to 4 weeks VII. Budget Funds received will be utilized to support staff and manage work load of Loss Mitigation Staff. Marketing efforts will be stepped up to include; mailings, automated phone calls to homeowners /borrowers. Phase 1 to 3 Loss Mitigation Intervention Outreach Robo -Calls /radio ads Marketing Mailings to Homeowners /Borrowers 550.00 X 183 households absorbed absorbed Total $ 100,650.00 Page 8 of 11 VIII. Key Personnel The key personnel who will be responsible for completion of the Loss Mitigation efforts as well as other personnel involved in the project are as follows: IX. Evaluation r BMJ Community Development, Inc. will monitor homeowner/borrower clients from the established municipal area and document their progress in their loss mitigation efforts. Carefully abiding by laws established to protect the privacy of the homeowner/borrower, we will prepare a report that categorizes the efforts to successfully assist homeowners. We will quantitatively report in the following categories: . LOSS MITIGATION OPTIONS 1. Special Forbearance (Type I & II) 2. Loan Modification 3. Delinquent Refinance 4. Partial Claim 5. Pre - foreclosure Sale 6. Dee -in -Lieu 7. Bankruptcy X. Endorsements The individuals below have not read this proposal, however they are professionally familiar with the works of our Executive Director and can provide a character reference. The Honorable James Bush, State Representative The Honorable Oscar Braynon, State Representative The Honorable Kendrick Meek, Congressman The Honorable Judge Mills Francis The Honorable Gary Siplin, State Senator The Honorable Charles Dusseau, Commissioner v The Honorable Carrie Meek, Retired Congresswoman The Honorable. Larcenia Bullard, State Senator Barbara Howard, Consultant Barbara Howard & Associates Willie Brown, Realtor Brown Realty Ann McNeil, President MCO Construction Joel Jacobi, Attorney -at -Law Dr. Courtney Williams Page 9 of 11 Andrew Demos, Attorney -at -Law Tony Robinson, Former City Manager City of Opa Locka - Opa Locka Flight Line Charles Spane, Realtor Elite International Realty Ron Book, Attorney -at -Law Blanca Cabo, Vice President Banco Popular Opal Jones, Director Miami -Dade Housing Foundation Frank Wollen, Clerk City of North Miami Xi. Next Steps Charles George, Chairman of the Board Florida Memorial University James Robinson, President JP Aviation Investments, Inc. Sandy Walker, Publisher The Gospel Truth Patrick Jean, Banker Wachovia Bank, NA Lisa Stewart, Specialist Title Consultants Harvey Ruvin, Clerk Miami -Dade County Your first step is to fully fund this request for Emergency Loss Mitigation Intervention Services. Appoint a municipal representative to assist in promoting this program from within the City your citizens. Coordinate Press Releases to encourage homeowners to contact us directly Page 10 of 11 2001 "Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair Date: February 9, 2009 SMCRA Bo Members From: SM ITEM No. J;�IA RED ROADS COMMONS AFFORDABLE HOUSING REQUIREMENT On January 28, 2009, staff meet with representatives of the Red Roads Commons Leasing Organization to discuss rental pricing for the required ten percent of total units in the project. According the approved development agreement between the City of South Miami and RRC 57th Avenue LLC, the following requirements must be met by RRC 57th Avenue LLC: "A requirement of 10% of the units will rent to individuals or families in the moderate income segment of the affordable housing group If the residential units convert to condominiums, ten percent of the units will be sold to individuals or families in the moderate income segment of the affordable housing _group In analyzing compliance with this paragraph the City shall allow minor deviations resulting from short term vacancies. Incomes shall be based on the area median income (AMI) as defined by the U.S. Department of Housing and Urban. Proof of compliance with this requirement on an annual basis shall be provided in writing on or before January 15 of the following year to the Cily Manager. In addition, the Applicant shall make a payment of $100 000 to the City on or before the issuance of the first certificate of use and occupancy for the development of the property to be placed in the City trust fund to assist in the development of low income housing in the City's Community Redevelopment Agency area. " Based on the relative nature of this information with the City's Affordable Housing Committee and based on prior requests from the Committee for information regarding the project, the draft pricing proposal has been placed on the Committee's agenda for further discussion. The Affordable Housing Committee shall next meet on February 19, 2009. Any recommendations received form the Affordable Housing Committee at that time shall be forwarded to the SMCRA Board for further review. Attachments: Red Roads Commons Affordable Housing Pricing Schedule SD /MCGRUFF \PLANNING \CRA \Red Road Commons Affordable Housing Requirement.doc RED � � � ■ 1st Month Free! 1 Bedroom / 1 Bathroom 600 - 764 SgFt 2 Bedroom / 2 Bathroom 885 - 970 SgFt EXHIBIT A Starting at $ 1,499 Starting at $ 1,783 3 Bedroom / 2 Bathroom 1114 - 1170SgFt Starting at $ 2,846 3 Bedroom / 3 Bathroom 1520 - 1589SgFt Starting at $ 3,300 All pricing subject to change without notice INCL UDED IN RENT — 24 HOUR MAINTENANCE AND ACCESS TO ALL AMENITIES. RESIDENT PAYS ALL UTILITIES INLCUDING ELECTRICITY, YVATER AND SEWER. Application Fee: Per Individual or Married Couple $75 Administration Fee: Non Refundable $250 Pet Policy: We welcome one pet up to 45lbs. $400 one time fee (No Aggressive breeds such as $25 per month Rottweiler, Chows, German Sheppard's. etc.) Security Deposit: with approved credit equal to one months rent Parking: One space provided per apartment. Additional parking is $125 6620 SW 57th Avenue Miami FL 33143 305.667.5220 Fax: 305.667.5221 Email: RedRoad@Laramarapts.com 2001 'Making our Neighborhood a Great Place 20 Lame, Work and Play' To: Honorable Chair and SMCRA Board Members From: Stephen David, SMCRA Director RESOLUTION Date: February 9, 2009 ITEM No. 4 PAYMENT OF ATTORNEY FEES FOR NAGIN GALLOP A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO ATTORNEY FEES; APPROVING ATTORNEY'S FEES FOR NAGIN GALLOP FIGUEREDO, P.A., FOR INVOICES DATED DECEMBER 23, 2008 AND JANUARY 27, 2009 IN THE TOTAL AMOUNT OF $1,989.30; AND CHARGING THE AMOUNT TO ACCOUNT NO. 610- 1110- 564 -31 -20 (GENERAL CORPORATE ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. BACKGROUND The firm of Nagin Gallop Figueredo, P.A. currently serves as general counsel to the SMCRA. The firm has submitted the following invoices dated December 23, 2008 and January 27, 2009 (Exhibit A) for general corporate matters. Invoice Date Amount December 23, 2008 $971.30 January 27, 2009 $1,017.50 Total amount of all invoices: $1,989.30 Charge Account No. 610- 1110 - 564 -31 -20 (General Corporate Account) 610 -1110- 564 -31 -20 (General Corporate Account) RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director to: (1) Disburse payment for legal services rendered for general corporate matters in the amount of $1,989.30 to Nagin Gallop Figueredo, P.A., charging the amount to Account No. 610- 1110 -564- 31 -20 (General Corporate Account). Following funding disbursement, the remaining balance in Account No. 610 - 1110 - 564 -31 -20 shall be $25,432.93. Attachments: Nagin Gallop Figueredo Invoices (December 2008 and January 2009) SD: \CRA \Nagin Gallop Payment Report for December 2008 and January 2009.doc 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 16 47 48 RESOLUTION NO. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO ATTORNEY FEES; APPROVING ATTORNEY'S FEES FOR NAGIN GALLOP FIGUEREDO, P.A., FOR INVOICES DATED DECEMBER 23, 2008 AND JANUARY 27, 2009, IN THE TOTAL AMOUNT OF $1,989.30; AND CHARGING THE AMOUNT TO ACCOUNT NO. 610- 1110- 564 -31 -20 (GENERAL CORPORATE ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Nagin Gallop Figueredo, P.A., submitted invoice to the CRA for legal services rendered, costs advanced, for 0076 -001, general corporate matters for the periods ending December 23, 2008 and January 27, 2009, in the amount of $1,989.30. NOW THEREFORE BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SOUTH MIAMI, FLORIDA THAT: Section 1. The South Miami Community Redevelopment Agency authorizes payment in the amount of $1,989.30 to Nagin Gallop Figueredo, P.A., for its attorney's fees on 0076 -001, general corporate CRA matters. Following funding disbursement, the remaining balance in Account No. 610 - 1110 - 564 -31 -20 will be $25,432.93. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this day of February, 2009 ATTEST: City of South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM Eve A. Boutsis, General Counsel APPROVED: Chairperson Horace Feliu Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A; NAGINGALLOPFIGUEREDO P. A. Attorneys & Counselors 18001 Old Cutler Road — Suite 556 Telephone: (305) 854 -5353 Miami, Florida 33157 -6416 Facsimile: (305) 854 -5351 December 23, 2008 Stephen David City of South Miami Community Redevelopment Agency 6130 Sunset Drive South Miami, Florida 33143 Re: South Miami Community Redevelopment Agency Statements Matter ID: 0076 -001 Dear Stephen: I enclose our firm's invoice number 19833 for services and costs incurred through December 23, 2008, in the amount of $1,017.50. I also attach the resolution approving same. If you have any questions, please do not hesitate to contact me. Thank you. Very truly your Ev . Boutsis General Counsel for the South Miami Community Redevelopment Agency EAB/lcm Enclosure CONFIDENTIAL - ATTORNEY /CLIENT PRIVILEGE NAGIN GALLOP FIGUEREDOPA. Attorneys & Counselors 18001 Old Cutler Road, Suite 556, Miami, Florida 33157 Telephone: (305) 854 -5353 Facsimile: (305) 854 -5351 Stephen David December 23, 2008 City of South Miami Matter ID: 0076 -001 6130 Sunset Drive CRA - General Corporate City of South Miami, FL 33143 Invoice Number 19833 Hours Amount 11/24/2008 LRF Telephone conference regarding purchase of Williamson property. 0.20 37.00 12/1/2008 EAB Telephone conference with Mr. Lott. 0.30 55.50 12/2/2008 EAB Attention to title policy and attention to CRA Agenda. 0.70 129.50 12/8/2008 HJM Prepared Letter and attended CRA meeting. 2.50 462.50 12/9/2008 EAB Attention to CRA pending items; Harrell property taxes; and 0.40 74.00 finalizing resolutions. 12/12/2008 EAB Attention to CRA plan; attention to and analyzed amended CRA 1.00 185.00 Plan; and provided direction to Mr. David on his inquiry relating to park. 12/23/2008 EAB Telephone conference with Mr. David. 0.40 74.00 Total Professional Services 1,017.50 Rate Summary H. James Montalvo 2.50 hours at $185.00/hr 462.50 Luis R. Figueredo 0.20 hours at $185.00/hr 37.00 Eve A. Boutsis 2.80 hours at $185.00/hr 518.00 Total hours: 5.50 1,017.50 Disbursements 11/11/2008 Mileage 8.64 11/18/2008 Mileage 7.20 12/2/2008 Recording Fee 72.00 Payment is due upon receipt. Please notify us within 10 days of any questions you have regarding this invoice. Interest at a rate of 1.5% per month will be charged if payment is not received within 30 days. Nagin Gallop Figueredo, P.A. Matter ID: 0076 -001 Statement No. 19833 Page: 2 CONFIDENTIAL - ATTORNEY /CLIENT PRIVILEGE 12/23/2008 Disbursements incurred - 3.0% 30.52 Payments and Credits 11/26/2008 Check No.: 63495 7,107.52 7,107.52 For Professional Services 1,017.50 For Disbursements Incurred 118.36 Current Balance: 1,135.86 Previous Balance: 11,164.25 Payments - Thank you 7,107.52 Total Due 5,192.59 To be properly credited, please indicate Invoice Number on your remittance check. Payment is due upon receipt. Please notify us within 10 days of any questions you have regarding this invoice. Interest at a rate of 1.5% per month will be charged if payment is not received within 30 days. EXHIBIT B ', _ .. NAGINGALLOPFIGUEREDO PA. Attorneys & Counselors 18001 Old Cutler Road — Suite 556 Telephone: (305) 854 -5353 Miami., Florida 33157 -6416 Facsimile: (305) 854 -5351 January 28, 2009 Stephen David City of South Miami Community Redevelopment Agency 6130 Sunset Drive South Miami, Florida 33143 Re: South Miami Community Redevelopment Agency Statements Matter ID: 0076 -001 Dear Stephen: I enclose our firm's invoice number 19833 for services and costs incurred through January 27, 2009, in the amount of $971.80. I also attach the resolution approving same. If you have any questions, please do not hesitate to contact me. Thank you. V truly urs, ve A. Boutsis General Counsel for the South Miami Community Redevelopment Agency EAB /lcm Enclosure CONFIDENTIAL - ATTORNEY /CLIENT PRIVILEGE NAGIN GALLOP FIGUEREDOP.A Attorneys & Counselors 18001 Old Cutler Road, Suite 556, Miami, Florida 33157 Telephone: (305) 854 -5353 Facsimile: (305) 854 -5351 Stephen David January 27, 2009 City of South Miami Matter ID: 0076 -001 6130 Sunset Drive CRA - General Corporate City of South Miami, FL 33143 Invoice Number 19844 Hours Amount 1/5/2009 EAB Attended meeting with Mr. James McCants; and attended meeting 2.00 370.00 Rate Summary Luis R. Figueredo Eve A. Boutsis Total Professional Services 943.50 1.00 hours at $185.00/hr 4.10 hours at $185.00/hr Total hours: 5.10 1/27/2009 Disbursements incurred - 3.0% 185.00 758.50 943.50 28.30 Payment is due upon receipt. Please notify us within 10 days of any questions you have regarding this invoice. Interest at a rate of 1.5% per month will be charged if payment is not received within 30 days. with Chair and Mr. McKinnon. 1/6/2009 EAB Telephone conference with Mr. David on pending items. 0.40 74.00 1/7/2009 EAB Attention to Habitat purchase and sale agreement; and pending 1.00 185.00 contract items; provided direction to Mr. David. 1/9/2009 EAB Attention to construction items. 0.40 74.00 1/12/2009 EAB Attention to Habitat item; attention to special board meeting and 0.30 55.50 completion of construction. 1/20/2009 LRF Prepared for and attended Special CRA meeting. 1.00 185.00 Rate Summary Luis R. Figueredo Eve A. Boutsis Total Professional Services 943.50 1.00 hours at $185.00/hr 4.10 hours at $185.00/hr Total hours: 5.10 1/27/2009 Disbursements incurred - 3.0% 185.00 758.50 943.50 28.30 Payment is due upon receipt. Please notify us within 10 days of any questions you have regarding this invoice. Interest at a rate of 1.5% per month will be charged if payment is not received within 30 days. Nagin Gallop Figueredo, P.A. Matter ID: 0076 -001 Statement No. 19844 Page: 2 CONFIDENTIAL - ATTORNEY /CLIENT PRIVILEGE For Professional Services 943.50 For Disbursements Incurred 28.30 Current Balance: Previous Balance: Payments - Thank you 971.80 5,192.59 0.00 Total Due 6,164.39 To be properly credited, please indicate Invoice Number on your remittance check. Payment is due upon receipt. Please notify us within 10 days of any questions you have regarding this invoice. Interest at a rate of 1.5% per month will be charged if payment is not received within 30 days. F_7] ►'t L19 if _ I 2001 "Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and SMCRA Boar ember From: Stephen avid, SMCRA Direct Date: February 9, 2009 ITEM No. Is ADDENDUM TO AGREEMENT TO PURCHASE 6477SW 60TH AVENUE A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6477 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0070) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING THE SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111930; AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the November 13, 2008 Meeting the Board authorized purchase of 6477 SW 601h Avenue (See Exhibit A) with the intention of converting an existing blighted lot into a newly redeveloped project site. The Board approved a final purchase price of $72,000 for 5,875 square feet of vacant, underutilized land. Following Board authorization and based on a cursory review by SMCRA closing attorney, it was determined that compliance with Fidelity National Tile Commitment No. WE08- 11.1930 would require additional time for completion by the seller. One of the requirements of the aforementioned commitment is that all probate filings to the Circuit Court be completed prior to establishing a final closing date. Compliance with this requirement shall therefore require additional time on the part of the seller to complete. Based on the existing agreement (See Exhibit B), the required closing date is twenty (20) days from the "effective" date of the contract. According to the agreement, the effective date "is the date on which the last of the parties initials or signs and delivers final offer or counteroffer ". The current effective date of the contract is therefore November 25, 2008. Approval of the attached resolution shall authorize an addendum to the existing contract to extend the required closing date to "twenty (20) days following compliance by the Seller with the title requirements set forth in the attached Fidelity National Tile Commitment No. WE08- 111930 ". RECOMMENDATION Staff recommends approval of the attached resolution authorizing an addendum (See Exhibit C) to the existing purchase and sale agreement between Ruth Williams, Frederick David Kennedy; Lawrence David Kennedy Jr. and the SMCRA to purchase 6477 SW 60th Avenue in order to extend the closing date of the existing contract from to twentv (20) days following the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111930. Attachments: Property Location Map Board Approved Purchase and Sale Agreement Agreement Addendum SD /MCGRUFF \PLANNING \CRA \Addendum to Agreement to Purchase 6477 SW 60 °i Avenue.doc 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 RESOLUTION NO. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6477 SW 60TH . AVENUE (FOLIO NO. 09- 4025 - 010 -0070) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING THE SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111930; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, during the November 13, 2008 Meeting the Board authorized purchase of a 5,875 square foot property located at 6477 SW 60'' Avenue for a total purchase price of $72,000 with the intention of converting an existing blighted lot into a newly redeveloped project site; and, WHEREAS, following Board authorization and based on a cursory review by SMCRA closing attorney, it was determined that compliance by the seller with Fidelity National Tile Commitment No. WE08- 111930 would require additional time for due diligence on the part of the seller; and WHEREAS, included as part of the requirements in the aforementioned title commitment is that all, required probate filings to the Circuit Court be completed prior to a final property closing being held which shall require additional time on the part of the seller to complete; and WHEREAS, based on the existing agreement, the required closing date is twenty (20) days from the "effective" date of the contract or the date on which the last of the parties initials or signs and delivers final offer or counteroffer; and WHEREAS, based on the stipulations within the existing agreement, the current effective date of the contract is therefore November 25, 2008; and WHEREAS, the addendum attached as Exhibit 1 shall allow for a required extension of the existing closing date from * (20) days rr ^m the effeeti:'e dat or*' rg e neat to twenty (20) days following the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111930. WHEREAS, the SMCRA desires to purchase the above referenced property 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 to facilitate additional redevelopment opportunities in the SMCRA District. NOW, THEREFORE, BE IT RESOLVED BY THE .SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: . Section 1. The SMCRA Board authorizes the SMCRA Director to execute the agreement addendum attached as Exhibit 1 to the previously approved purchase and sale agreement with Ruth Williams, Frederick David Kennedy and Lawrence David Kennedy Jr. to purchase property located at 6477 SW 60th Avenue (Folio No. 09- 4025- 010 -0070) to extend the closing date of the contract to twenty (20) days following the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111930 and the correction of all minor technical errors in the previously approved contract. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of February, 2009. ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: APPROVED: Chairperson Horace Feliu Eve A. Boutsis, Office General Counsel South Miami Community Redevelopment Agency Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Wiscombe: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison .Square Property Acquisition Map (6457 SW 601h Avenue) South Miami Community Redevelopment Agency Area 0 N NE ��I l SMCRA GRAD -Wa Y pity's O.M., - ago i -) 105 a0 NA ■ ■ r© © ©m II t M o � v �m .1 - bV ....................................................... MPf�011 F:�A[ 1 KdRINE imm; _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ® - SMCRA Acquired and Owned Land Parcels Including Madison Square Him ®® loo bV ....................................................... MPf�011 F:�A[ 1 KdRINE imm; _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ® - SMCRA Acquired and Owned Land Parcels Including Madison Square EXHIBIT B Vacant Land Contract FLORIDA ASSOCIATION OF REALTORS® 1 PARTIES AND DESCRIPTION OF PROPERTY 2* 1. SALE AND PURCHASE: Frederick & Lawrence Kennedy Jr ( "Seller ") 3* and South Miami Community Redevelopment Agency ( "Buyer ") 4 agree to sell and buy on the terms and conditions specified below the property (`Property") described as: 5* Address: vacant land folio# 09- 4025 -010 -0070 South Miami, FL 33143 6* Legal Description: Franklin Sub PB 5 -34 Lot 6 less W2 5ft Blk 1 Lot Size 5875 sqft or 20148 - 3693 -3700 11/20014 (3) 7* 8* 9* 10* 11* 12* including all improvements and the following additional property: 13* 14* 15 PRICE AND FINANCING 16* 2. PURCHASE PRICE: $ 72,000.00 payable by Buyer in U.S. funds as follows: 17* (a) $ 3.000.00 Deposit received (checks are subject to clearance) on by 18* for delivery to Coldwell Banker ( "Escrow Agent ") 19 Signature Name of Company 20* (Address of Escrow Agent) 1501 Sunset Drive Coral Gables FL 33143 21 * (Phone # of Escrow Agent) (305)666 -5922 22* (b) $ Additional deposit to be delivered to Escrow Agent by 23* or days from Effective Date. (10 days if left blank). 24* (c) Total financing (see Paragraph 3 below) (express as a dollar amount or percentage) 25* (d) $ Other: 26* (e) $ 69.000.00 Balance to close (not including Buyer's closing costs, prepaid items and prorations). All funds 27 paid at closing must be paid by locally drawn cashier's check, official check, or wired funds. 28* ❑ (f) (complete only if purchase rice will be determined based on a per unit cost instead of a fixed price) The unit used to 29* determine the purchase price is -1 lot ❑ acre ❑ square foot ❑ other (specify: ) prorating 30* areas of less than a full unit. The purchase price will be $ per unit based on a calculation of total area of 31 the Property as certified to Buyer and Seller by a Florida- licensed surveyor in accordance with Paragraph 8(c) of this 32* Contract. The following rights of way and other areas will be excluded from the calculation: 33* 34* 3. CASH/FINANCING: (Check as applicable) X (a) Buyer will pay cash for the Property with no financing contingency. 35* ❑ (b) This Contract is contingent on Buyer qualifying and obtaining the commitment(s) or approval(s) specified below (the 36* "Financing ") within days from Effective Date (if left blank then Closing Date or 30 days from Effective Date, whichever 37* occurs first) (the "Financing Period "). Buyer will apply for Financing within days from Effective Date (5 days if left 38 blank) and will timely provide any and all credit, employment, financial and other information required by the lender. If Buyer, 39 after using diligence and good faith, cannot obtain the Financing within the Financing Period, either party may cancel this 40 Contract and Buyer's deposit(s) will be returned after Escrow Agent receives proper authorization from all interested parties. 41* El (1) New Financing: Buyer will secure a commitment for new third party financing for $ or 42* % of the purchase price at the prevailing interest rate and loan costs based on Buyer's creditworthiness. Buyer 43 will keep Seller and Broker fully informed of the loan application status and progress and authorizes the lender or 44 mortgage broker to disclose all such information to Seller and Broker. 45* ❑ (2) Seller Financing: Buyer will execute a ❑ first ❑ second purchase money note and mortgage to Seller in the 46* amount of $ , bearing annual interest at % and payable as follows: 47* 48 The mortgage, note, and any security agreement will be in a form acceptable to Seller and will follow forms generally 49 accepted in the county where the Property is located; will provide for a late payment fee and acceleration at the mortgagee's 50 Buyer ( ) and Seller ( ) C_) acknowledge receipt of a copy of this page, which is Page 1 of 7 Pages. VAC -9 Rev. 4107 © 2007 Florida Association of REALTORS® All Rights Reserved [13 12t Form generated by: True Forms' www.TrueForms.com 800 -499 -9612 n "Torn `;= 51 option if Buyer defaults; will give Buyer the right to prepay without penalty all or part of the principal at any time(s) with 52 interest only to date of payment; will be due on conveyance or sale; will provide for release of contiguous parcels, if 53 applicable; and will require Buyer to keep liability insurance on the Property, with Seller as additional named insured. 54 Buyer authorizes Seller to obtain credit, employment and other necessary information to determine creditworthiness for the 55 financing. Seller will, within 10 daysfrom Effective Date, give Buyer written notice of whether or not Seller will make the loan. 56* ❑ (3) Mortgage Assumption: Buyer will take title subject to and assume and pay existing first mortgage to 57* 58* LN# in the approximate amount of $ currently payable at $ 59* per month including principal, interest, ❑ taxes and insurance and having a ❑ fixed ❑ other (describe) 60* 61 * interest rate of % which ❑ will ❑ will not escalate upon assumption. Any variance in the mortgage will be 62 adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow 63* account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds % or the 64* assumption /transfer fee exceeds $ , either party may elect to pay the excess, failing which this 65 agreement will terminate and Buyer's deposit(s) will be returned. 66 CLOSING 67* 4, CLOSING .DATE; OCCUPANCY: This Contract will be closed and the deed and possession delivered on 20 days from 68* effective date ( "Closing Date "). Unless the Closing Date is specifically extended by the Buyer and Seller or by any other 69 provision in this Contract, the Closing Date shall prevail over all other time periods including, but not limited to, financing and 70 feasibility study periods. If on Closing Date insurance underwriting is suspended, Buyer may postpone closing up to 5 days after 71 the insurance suspension is lifted. If this transaction does not close for any reason, Buyer will immediately return all Seller - 72 provided title evidence, surveys, association documents and other items. 73 5. CLOSING PROCEDURE; COSTS: Closing will take place in the county where the Property is located and may be conducted 74 by mail or electronic means. If title insurance insures Buyer for title defects arising between the title binder effective date and 75 recording of Buyer's deed, closing agent will disburse at closing the net sale proceeds to Seller (in local cashier's checks if 76 Seller requests in writing at least 5 days prior to closing) and brokerage fees to Broker as per Paragraph 17. In addition to other 77 expenses provided in this Contract, Seller and Buyer will pay the costs indicated below. 78 (a) Seller Costs: 79 Taxes on the deed 80 Recording fees for documents needed to cure title 81 Title evidence (if applicable under Paragraph 8) 82* Other: 83 (b) Buyer Costs: 84 Taxes and recording fees on notes and mortgages 85 Recording fees on the deed and financing statements 86 Loan expenses 87 Lender's title policy at the simultaneous issue rate 88 Inspections 89 Survey and sketch 90 Insurance 91 * Other: 92 (c) Title Evidence and Insurance: Check (1) or (2): 93* ® (1) The title evidence will be a Paragraph 8(a)(1) owner's title insurance commitment. ® Seller will select the title 94* agent and will pay for the owner's title policy, search, examination and related charges or ❑ Buyer will select the title 95* agent and pay for the owner's title policy, search, examination and related charges or ❑ Buyer will select the title agent 96* and Seller will pay for the owner's title policy, search, examination and related charges. 97* ❑ (2) Seller will provide an abstract as specified in Paragraph 8(a)(2) as title evidence. ❑ Seller ❑ Buyer will pay for the 98 owner's title policy and select the title agent. Seller will pay fees for title searches prior to closing, including tax search 99 and lien search fees, and Buyer will pay fees for title searches after closing (if any), title examination fees and closing fees. 100 (d) Prorations: The following items will be made current and prorated as of the day before Closing Date: real estate taxes, 101 interest, bonds, assessments, leases and other Property expenses and revenues. If taxes and assessments for the current 102 year cannot be determined, the previous year's rates will be used with adjustment for any exemptions. PROPERTY TAX 103 DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE 104 AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO 105 PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE 106 PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING 107 VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR FURTHER INFORMATION. 108 (e) Special Assessment by Public Body: Regarding special assessments imposed by a public body, Seller will pay (i) the 109 full amount of liens that are certified, confirmed and ratified before closing and (ii) the amount of the last estimate of the 110 Buyer and Seller acknowledge receipt of a copy of this page, which is Page 2 of 7 Pages. VAC -9 Rev. 4107 8 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 -499 -9612 111 assessment if an improvement is substantially completed as of Effective Date but has not resulted in a lien before closing, 112* _ and Buyer will pay all other amounts. If special assessments may be paid in installments ❑ Buyer ❑ Seller (if left blank, 113 Buyer) shall pay installments due after closing. If Seller is checked, Seller will pay the assessment in full prior to or at the 114 time of closing. Public body does not include a Homeowner Association or Condominium Association. 115 (f) Tax Withholding: If Seller is a "foreign person" as defined by FIRPTA, Section 1445 of the Internal Revenue Code 116 requires Buyer to withhold 10% of the amount realized by the Seller on the transfer and remit the withheld amount to the 117 Internal Revenue Service (IRS) unless an exemption applies. The primary exemptions are (1) Seller provides Buyer with an 118 affidavit that Seller is not a "foreign person ", (2) Seller provides Buyer with a Withholding Certificate providing for reduced or 119 eliminated withholding, or (3) the gross sales price is $300,000 or less, Buyer is an individual who purchases the Property to 120 use as a residence, and Buyer or a member of Buyer's family has definite plans to reside at the Property for at least 50% of 121 the number of days the Property is in use during each of the first two 12 month periods after transfer. The IRS requires Buyer 122 and Seller to have a U.S. federal taxpayer identification number ("TIN"). Buyer and Seller agree to execute and deliver as 123 directed any instrument, affidavit or statement reasonably necessary to comply with FIRPTA requirements including applying 124 for a TIN within 3 days from Effective Date and delivering their respective TIN or Social Security numbers to the Closing Agent. 125 If Seller applies for a withholding certificate but the application is still pending as of closing, Buyer will place the 10% tax in 126 escrow at Seller's expense to be disbursed in accordance with the final determination of the IRS, provided Seller so requests 127 and gives Buyer notice of the pending application in accordance with Section 1445. If Buyer does not pay sufficient cash at 128 closing to meet the withholding requirement, Seller will deliver to Buyer at closing the additional cash necessary to satisfy 129 the requirement. Buyer will timely disburse the funds to the IRS and provide Seller with copies of the tax forms and receipts. 130 (g) 1031 Exchange: If either Seller or Buyer wishes to enter into a like -kind exchange (either simultaneously with closing or 131 after) under Section 1031 of the Internal Revenue Code ( "Exchange "), the other party will cooperate in all reasonable respects 132 to effectuate the Exchange including executing documents; provided, however, that the cooperating party will incur no liability 133 or cost related to the Exchange and that the closing shall not be contingent upon, extended or delayed by the Exchange. 134 PROPERTY CONDITION 135 6. LAND USE: Seller will deliver the Property to Buyer at the time agreed in its present "as is" condition, with conditions 136 resulting from Buyer's Inspections and casualty damage, if any, excepted. Seller will maintain the landscaping and grounds in a 137 comparable condition and will not engage in or permit any activity that would materially alter the Property's condition without the 138 Buyer's prior written consent. 139 (a) Flood Zone: Buyer is advised to verify by survey, with the lender and with appropriate government agencies which flood 140 zone the Property is in, whether flood insurance is required and what restrictions apply to improving the Property and 141 rebuilding in the event of casualty. 142 (b) Government Regulation: Buyer is advised that changes in government regulations and levels of service which affect 143 Buyer's intended use of the Property will not be grounds for canceling this Contract if the Feasibility Study Period has 144 expired or if Buyer has checked choice (c)(2) below. 145 (c) Inspections: (check (1) or (2) below) 146 ❑ (1) Feasibility Study: Buyer will, at Buyer's expense and within days from Effective Date ( "Feasibility Study 147 Period "), determine whether the Property is suitable, in Buyer's sole and absolute discretion, for 148 use. During the Feasibility Study Period, Buyer may conduct a Phase 1 149 environmental assessment and any other tests, analyses, surveys and investigations ( "Inspections ") that Buyer deems 150 necessary to determine to Buyer's satisfaction the Property's engineering, architectural and environmental properties; 151 zoning and zoning restrictions; subdivision statutes; soil and grade; availability of access to public roads, water, and other 152 utilities; consistency with local, state and regional growth management plans; availability of permits, government approvals, 153 and licenses; and other Inspections that Buyer deems appropriate to determine the Property's suitability for the Buyer's 154 intended use. If the Property must be rezoned, Buyer will obtain the rezoning from the appropriate government agencies. 155 Seller will sign all documents Buyer is required to file in connection with development or rezoning approvals. 156 Seller gives Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Feasibility 157 Study Period for the purpose of conducting Inspections; provided, however, that Buyer, its agents, contractors and 158 assigns enter the Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seller harmless from 159 losses, damages, costs, claims and expenses of any nature, including attorneys' fees, expenses and liability incurred in 160 application for rezoning or related proceedings, and from liability to any person, arising from the conduct of any and all 161 Inspections or any work authorized by Buyer. Buyer will not engage in any activity that could result in a construction lien 162 being filed against the Property without Seller's prior written consent. If this transaction does not close, Buyer will, at 163 Buyer's expense, (1) repair all damages to the Property resulting from the Inspections and return the Property to the 164 condition it was in prior to conduct of the Inspections, and (2) release to Seller all reports and other work generated as a 165 result of the Inspections. 166 Buyer will deliver written notice to Seller prior to the expiration of the Feasibility Study Period of Buyer's determination of 167 whether or not the Property is acceptable. Buyer's failure to comply with this notice requirement will constitute 168 acceptance of the Property as suitable for Buyer's intended use in its "as is" condition. If the Property is unacceptable to 169 Buyer and written notice of this fact is timely delivered to Seller, this Contract will be deemed terminated as of the day 170 after the Feasibility Study period ends and Buyer's deposit(s) will be returned after Escrow Agent receives proper 171 authorization from all interested parties. 172 ® (2) No Feasibility Study: Buyer is satisfied that the Property is suitable for Buyer's purposes, including being 173 satisfied that either public sewerage and water are available to the Property or the Property will be approved for the 174 Buyer ( ) and Seller ( ) acknowledge receipt of a copy of this page, which is Page 3 of 7 Pages. VAC -9 Rev. 4/07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms" www.TrueForms.com 800 -499 -9612 175 installation of a well and/or private sewerage disposal system and that existing zoning and other pertinent regulations and 176 restrictions, such as subdivision or deed restrictions, concurrency, growth management and environmental conditions, 177 are acceptable to Buyer. This Contract is not contingent on Buyer conducting any further investigations. 178 (d) Subdivided Lands: If this Contract is for the purchase of subdivided lands, defined by Florida Law as "(a) Any 179 contiguous land which is divided or is proposed to be divided for the purpose of disposition into 50 or more lots, parcels, 180 units, or interests; or (b) Any land, whether contiguous or not, which is divided or proposed to be divided into 50 or more lots, 181 parcels, units, or interests which are offered as a part of a common promotional plan. ", Buyer may cancel this Contract for 182 any reason whatsoever for a period of 7 business days from the date on which Buyer executes this Contract. If Buyer elects 183 to cancel within the period provided, all funds or other property paid by Buyer will be refunded without penalty or obligation 184 within 20 days of the receipt of the notice of cancellation by the developer. 185 7. RISK OF LOSS; EMINENT DOMAIN: 'If any portion of the Property is materially damaged by casualty before closing, or 186 Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain proceedings, 187 or if an eminent domain proceeding is initiated, Seller will promptly inform Buyer. Either party may cancel this Contract by 188 written notice to the other within 10 days from Buyer's receipt of Seller's notification, failing which Buyer will close in 189 accordance with this Contract and receive all payments made by the government. authority or insurance company, if any. 190 TITLE 191 8. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal representative or 192 guardian deed as appropriate to Seller's status. 193 (a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller in 194 accordance with current title standards adopted by the Florida Bar, subject only to the following title exceptions, none of 195 which prevent Buyer's intended use of the Property as redevelopment : covenants, easements 196 and restrictions of record; matters of plat; existing zoning and government regulations; oil, gas and mineral rights of record if 197 there is no right of entry; current taxes; mortgages that Buyer will assume; and encumbrances that Seller will discharge at or 198 before closing. Seller will deliver to Buyer Seller's choice of one of the following types of title evidence, which must be 199 generally accepted in the county where the Property is located (specify in Paragraph 5(c) the selected type). Seller will use 200 option (1) in Palm Beach County and option (2) in Miami -Dade County. 201 (1) A title insurance commitment issued by a Florida - licensed title insurer in the amount of the purchase price and 202 subject only to title exceptions set forth in this Contract and delivered no later than 2 days before Closing Date. 203 (2) An existing abstract of title from a reputable and existing abstract firm (if firm is not existing, then abstract must be 204 certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to the 205 Property recorded in the public records of the county where the Property is located and certified to Effective Date. 206 However if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed 207 insurer as a base for reissuance of coverage. Seller will pay for copies of all policy exceptions and an update in a format 208 acceptable to Buyer's closing agent from the policy effective date and certified to Buyer or Buyer's closing agent, 209 together with copies of all documents recited in the prior policy and in the update. If a prior policy is not available to Seller 210 then (1) above will be the title evidence. Title evidence will be delivered no later than 10 days before Closing Date. 211 (b) Title Examination: Buyer will examine the title evidence and deliver written notice to Seiler, within 5 days from receipt of 212 title evidence but no later than closing, of any defects that make the title unmarketable. Seller will have 30 days from receipt 213 of Buyer's notice of defects ("Curative Period ") to cure the defects at Seller's expense. If Seiler cures the defects within the 214 Curative Period, Seller will deliver written notice to Buyer, and the parties will close the transaction on Closing Date or within 215 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the defects within the 216 Curative Period, Seller will deliver written notice to Buyer and Buyer will, within 10 days from receipt of Seller's notice, 217 either cancel this Contract or accept title with existing defects and close the transaction. 218 (c) Survey: Buyer may, prior to Closing Date and at Buyer's expense, have the Property surveyed and deliver written notice 219 to Seller, within 5 days from receipt of survey but no later than 5 days prior to closing, of any encroachments on the 220 Property, encroachments by the Property's improvements on other lands or deed restriction or zoning violations. Any such 221 encroachment or violation will be treated in the same manner as a title defect and Buyer's and Seller's obligations will be 222 determined in accordance with subparagraph (b) above. 223 (d) Coastal Construction Control Line: If any part of the Property lies seaward of the coastal construction control line as 224 defined in Section 161.053 of the Florida Statutes, Seller shall provide Buyer with an affidavit or survey as required by law 225 delineating the line's location on the Property, unless Buyer waives this requirement in writing. The Property being 226 purchased may be subject to coastal erosion and to federal, state, or local regulations that govern coastal property, including 227 delineation of the coastal construction control Fine, rigid coastal protection structures, beach nourishment, and the protection 228 of marine turtles. Additional information can be obtained from the Florida Department of Environmental Protection, including 229 whether there are significant erosion conditions associated with the shoreline of the Property being purchased. 230* ❑ Buyer waives the right to receive a CCCL affidavit or survey. 231 MISCELLANEOUS 232 9. EFFECTIVE DATE; TIME; FORCE MAJEURE: 233 (a) Effective Date: The "Effective Date" of this Contract is the date on which the last of the parties initials or signs and 234 delivers final offer or counteroffer. Time is of the essence for all provisions of this Contract. 235 (b) Time: All time periods expressed as days will be computed in business days (a "business day" is every calendar day 236 except Saturday, Sunday and national legal holidays). If any deadline falls on a Saturday, Sunday or national legal 237 Buyer ( ) and Seller ( ( ) acknowledge receipt of a copy of this page, which is Page 4 of 7 Pages. VAC -9 Rev. 4/07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 - 499 -9612 238 holiday, performance will be due the next business day. All time periods will end at 5:00 p.m. local time (meaning in the 239 county where the Property is located) of the appropriate day. 240 (c) Force Majeure: Buyer or Seller shall not be required to perform any obligation under this Contract or be liable 241 to each other for damages so long as the performance or non - performance of the obligation is delayed, caused or 242 prevented by an act of God or force majeure. An "act of God" or "force majeure" is defined as hurricanes, earthquakes, 243 floods, fire, unusual transportation delays, wars, insurrections and any other cause not reasonably within the control of 244 the Buyer or Seller and which by the exercise of due diligence the non- performing party is unable in whole or in part 245 to prevent or overcome. All time periods, including Closing Date, will be extended (not to exceed 30 days) for the period that 246 the force majeure or act of God is in place. In the event that such "act of God" or "force majeure" event continues beyond 247 the 30 days in this sub - paragraph, either party may cancel the Contract by delivering written notice to the other and Buyer's 248 deposit shall be refunded. 249 10. NOTICES: All notices shall be in writing and will be delivered to the parties and Broker by mail, personal delivery or 250 electronic media. Buyer's failure to deliver timely written notice to Seller, when such notice is required by this Contract, 251 regarding any contingencies will render that contingency null and void and the Contract will be construed as if the 252 contingency did not exist. Any notice, document or item delivered to or received by an attorney or licensee (including a 253 transaction broker) representing a party will be as effective as if delivered to or by that party. 254 11. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage 255 agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract. 256 Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound. This 257 Contract, signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated 258 electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten 259 terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid 260 or unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller will use diligence and good faith in 261 performing all obligations under this Contract. This Contract will not be recorded in any public records. 262 12. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms 263 "Buyer," "Seller," and "Broker" may be singular or plural. This Contract is binding on the heirs, administrators, executors, 264 personal representatives and assigns (if permitted) of Buyer, Seller and Broker. 265 DEFAULT AND DISPUTE RESOLUTION 266 13. DEFAULT: (a) Seller Default: If for any reason other than failure of Seller to make Seller's title marketable after diligent 267 effort, Seller fails, refuses or neglects to perform this Contract, Buyer may choose to receive a return of Buyer's deposit without 268 waiving the right to seek damages or to seek specific performance as per Paragraph 14. Seller will also be liable to Broker for 269 the full amount of the brokerage fee. (b) Buyer Default: If Buyer fails to perform this Contract within the time specified, 270 including timely payment of all deposits, Seller may choose to retain and collect all deposits paid and agreed to be paid as 271 liquidated damages or to seek specific performance as per Paragraph 14; and Broker will, upon demand, receive 50% of all 272 deposits paid and agreed to be paid (to be split equally among Brokers) up to the full amount of the brokerage fee. 273 14. DISPUTE RESOLUTION: This Contract will be construed under Florida law. All controversies, claims, and other matters in 274 question arising out of or relating to this transaction or this Contract or its breach will be settled as follows: 275 (a) Disputes concerning entitlement to deposits made and agreed to be made: Buyer and Seller will have 30 days from 276 the date conflicting demands are made to attempt to resolve the dispute through mediation. If that fails, Escrow Agent will 277 submit the dispute, if so required by Florida law, to Escrow Agent's choice of arbitration, a Florida court or the Florida Real 278 Estate Commission. ( "FREC "). Buyer and Seller will be bound by any resulting award, judgment or order. A broker's 279 obligation under Chapter 475, FS and the FREC rules to timely notify the FREC of an escrow dispute and timely resolve the 280 escrow dispute through mediation, arbitration, interpleader, or an escrow disbursement order, if the broker so chooses, 281 applies only to brokers and does not apply to title companies, attorneys or other escrow companies. 282 (b) All other disputes: Buyer and Seller will have 30 days from the date a dispute arises between them to attempt to 283 resolve the matter through mediation, failing which the parties will resolve the dispute through neutral binding arbitration in 284 the county where the Property is located. The arbitrator may not alter the Contract terms or award any remedy not provided 285 for in this Contract. The award will be based on the greater weight of the evidence and will state findings of fact and the 286 contractual authority on which it is based. if the parties agree to use discovery, it will be in accordance with the Florida Rules 287 of Civil Procedure and the arbitrator will resolve all discovery- related disputes. Any disputes with a real estate licensee 288 named in Paragraph 17 will be submitted to arbitration only if the licensee's broker consents in writing to become a party to 289 the proceeding. This clause will survive closing. 290 (c) Mediation and Arbitration; Expenses: 'Mediation" is a process in which parties attempt to resolve a dispute by 291 submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to impose a 292 settlement on the parties. Mediation will be in accordance with the rules of the American Arbitration Association ( "AAA ") or 293 other mediator agreed on by the parties. The parties will equally divide the mediation fee, if any. "Arbitration" is a process in 294 which the parties resolve a dispute by a hearing before a neutral person who decides the matter and whose decision is 295 binding on the parties. Arbitration will be in accordance with the rules of the AAA or other arbitrator agreed on by the parties. 296 Each party to any arbitration will pay its own fees, costs and expenses, including attorneys' fees, and will equally split the 297 arbitrators' fees and administrative fees of arbitration. In a civil action to enforce an arbitration award, the prevailing party to 298 the arbitration shall be entitled to recover from the nonprevailing party reasonable attorneys' fees, costs and expenses. 299 Buyer ( ) (_) and Seller (_) ( acknowledge receipt of a copy of this page, which is 'Page 5 of 7 Pages. VAC -9 Rev. 4/07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 890 -499 -9612 300 ESCROW AGENT AND BROKER 301 15. ESCROW AGENT: Buyer and Seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow 302 and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this 303 Contract, including disbursing brokerage fees. The parties agree that 'Escrow Agent will not ibe liable to any person for 304 misdelivery of escrowed items to Buyer or Seller, unless the misdelivery is due to Escrow Agent's willful breach of this Contract 305 or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and 306 costs from the deposit and will recover reasonable attorneys' fees and costs to be paid from the escrowed funds or equivalent 307 and charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so 308 long as Escrow Agent consents to arbitrate. 309 16. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify all facts and representations 310 that are important to them and to consult an appropriate professional for legal advice (for example, interpreting contracts, 311 determining the effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, 312 the effect of property lying partially or totally seaward of the Coastal Construction Control Line, etc.) and for tax, property 313 condition, environmental and other specialized advice. Buyer acknowledges that Broker does not reside in the 314 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or 315 public records. Buyer agrees to rely solely on Seller, professional inspectors and governmental agencies for 316 verification of the Property condition and facts that materially affect Property value. Buyer and Seller respectively will 317 pay all costs and expenses, including reasonable attorneys' fees at all levels, incurred by Broker and Broker's 318 officers, directors, agents and employees in connection with or arising from Buyer's or Seller's misstatement or failure 319 to perform contractual obligations. Buyer and Seller hold harmless and release Broker and Broker's officers, directors, 320 agents and employees from all liability for loss or damage based on (1) Buyer's or Seller's misstatement or failure to perform 321 contractual obligations; (2) Broker's performance, at Buyer's and /or Seller's request, of any task beyond the scope of services 322 regulated by Chapter 475, F.S., as amended, including Broker's referral, recommendation or retention of any vendor; (3) 323 products or services provided by any vendor; and (4) expenses incurred by any vendor. Buyer and Seller each assume full 324 responsibility for selecting and compensating their respective vendors. This paragraph will not relieve Broker of statutory 325 obligations. For purposes of this paragraph, Broker will be treated as a party to this Contract. This paragraph will survive closing. 326 17. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as `Broker." Instruction to Closing 327 Agent: Seller and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in 328 separate brokerage agreements with the parties and cooperative agreements between the brokers, except to the extent Broker 329 has retained such fees from the escrowed funds. In the absence of such brokerage agreements, closing agent will disburse 330 brokerage fees as indicated below. This paragraph will not be used to modify any MLS or other offer of compensation made by 331 Seller or listing broker to cooperating brokers. 332 * Oliver von Gundlach 3058563 Coldwell Banker 333 * Selling Sales Associate/License No_ Selling Firm /Brokerage Fee: ($ or % of Purchase Price) 3% 334 * Oliver von Gundlach 3058563 Coldwell Banker 335 * Listing Sales Associate /License No. Listing Firm/Brokerage Fee: ($ or % of Purchase Price) 3% 336 ADDITIONAL TERMS: 337 18. ADDITIONAL TERMS: 338 Pursuant to Section 475.42(1)0), Fla. Stat., Seller and Buyer hereby grant Broker the right to place a Lien on the Property to 339 ensure payment of services rendered. For purposes of this paragraph, Broker will be treated as a party to this Contract. 340 341 In addition to any brokerage fee noted in paragraph 17, Coldwell Banker Residential Real Estate LLC will collect a $295 342 brokerage fee from its Seller(s) as agreed to in the Seller's 343 Listing Agreement. 344 345 Buyer and Seller agree that Coldwell Banker, if acting as escrow agent, will deposit the escrowed funds in a non- interest- 346 bearing account with a financial institution chosen by Coldwell Banker and that the financial institution, Coldwell Banker or any 347 of its related companies may obtain a direct or indirect benefit in connection with such deposit. 348 349 Buyer should not execute this contract until buyer has received and read the disclosure summary if required by section 720.401, 350 Florida Statutes which, if required, is incorporated into this contract. IF THE DISCLOSURE SUMMARY REQUIRED BY SECTION 351 720.401, FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO THE PROSPECTIVE PURCHASER BEFORE EXECUTING THIS 352 CONTRACT FOR SALE, THIS CONTRACT IS VOIDABLE BY BUYER BY DELIVERING TO SELLER OR SELLER'S AGENT OR 353 REPRESENTATIVE WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 3 DAYS AFTER RECEIPT OF THE 354 DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY PURPORTED WAIVER OF THIS 355 VOIDABILITY RIGHT HAS NO EFFECT. BUYER'S RIGHT TO VOID THIS CONTRACT SHALL TERMINATE AT CLOSING. 356 357 358 Buyer ( ) L---_) and Seller ( ) acknowledge receipt of a copy of this page, which is Page 6 of 7 Pages. VAC -9 Rev. 4107 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True forms" www,TrueForms.com 800- 499 -9612 359* 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 This is intended to be a legally binding contract. If not fully understood, seek the advice of an attorney prior to signing. 377 OFFER AND ACCEPTANCE 378 (Check if applicable: X Buyer received a written real property disclosure statement from Seller before making this Offer.) 379 Buyer offers to purchase the Property on the above terms and conditions. Unless this Contract is signed by Seller and a copy 380* delivered to Buyer no later than 5.00 ❑ a.m. X p.m. on 11/26/2008 -,this offer will be 381 revoked and Buyer's deposit refunded subject to clearance of funds. 382 COUNTER OFFER/REJECTION 383* ❑ Seller counters Buyer's offer (to accept the counter offer, Buyer must sign or initial the counter offered terms and deliver a 384 copy of the acceptance to Seller. Unless otherwise stated, the time for acceptance of any counteroffers shall be 2 days from the 385* date the counter is delivered. ❑ Seller rejects Buyer's offer. 386* Date: 11/12/2008 Buyer: 387* Print name: South Miami CRA Director 388* Date: 11112/2008 Buyer: 389* Phone: Print name: South Miami CRA Attorney 390* Fax: Address: 391* E -mail: 392* Date: Seller: 393* Print name: 394* Date: Seller: 395* Phone: Print name: 396* Fax: Address: 397* E -mail: 398* Effective Date: (The date on which the last party signed or initialed acceptance of the final offer.) 399 Buyer and Seller acknowledge receipt of a copy of this page, which is Page 7 of 7 Pages. The Florida Association of REALTORS and local Board /Association of REALTORS make no representation as to the legal validity or adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR. REALTOR is a registered collective membership mark that may be used only by real estate licensees who are members of the National Association of REALTORS and who subscribe to its Code of Ethics. The copyright laws of the United States (17 U.S. Code) forbid the unauthorized reproduction of blank forms by any means including facsimile or computerized forms. VAC -9 Rev. 4/07 ® 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800499 -9612 Lott & Levine -EXHIBIT C 9155 South Dadeland Blvd., Suite 1014 Miami, Florida 33156 Tel (305)670 -0700, Fax (305)670 -0701 Addendum No. 1 to the Contract dated between RUTH WILLIAMS FREDERICK DAVID KENNEDY LAWRENCE DAVID KENNEDY JR et al.. (Seller) and SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (Buyer) concerning the property described as: Lot 6 LESS the West 2.50 feet thereof, Block 1, FRANKLYN SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 5, Page 34, of the Public Records of Miami -Dade County, Florida (the "Contract'). Buyer and Seller make the following terms and conditions part of the Contract: The date for closing of the transaction is extended to on or before 20 days following Sellers' compliance with the title requirements set forth in the attached Fidelity National Title Insurance Commitment No.WE08- 111932. Sellers shall use diligent efforts to comply with all requirements of the Title Commitment, at their expense. In the event that Sellers are unable to comply with such title requirements within 90 days of the date hereof, then Buyer, at Buyer's sole option, may, but shall not be required to, extend the time period for Sellers to comply with all such title requirements. If Buyer, in Buyer's sole discretion, chooses not to extend the time for Sellers to comply with all title requirements, Buyer may cancel the Contract, whereupon all deposits shall immediately be returned to the Buyer. In the event that there is any conflict between this Addendum and the Contract, the terms of this Addendum shall prevail. South Miani C munit-y Refi t try Date: Buyer: its tCir Date: Sa er Date: Seller: Date: Seller: • ACSP -2 Rev. 6194 m 1994 Florida Association of REALTORS® All Rights Reserved. Licensed to Alta Star. User Regi# S- 23GACY3302022POJ -1021 Software and Added Formatting Copyright 2004 Alta Star Software, Inc. All Rights Reserved. (305) 279 -8898 ALTA STAR SOFTWARE = �lll� Fidelity National Title ,n Insurance Company Commitment No: WE08- 1 1 1 932 Agent File No: South Miami C JA /JA Agent File No. South Miami C_ SCHEDULE A 1. Effective date: November 14, 2008 at 8:00 A.M. 2. Policy or Policies to be issued: (a) ALTA Owner's Policy (Rev. 10- 17 -92) with Florida Modifications Amount $72,000.00 Proposed Insured: City of South Miami (b) ALTA Loan Policy (Rev. 10- 17 -92) with Florida Modifications Amount $ Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: FEE SIMPLE 4. Title to the FEE SIMPLE estate or interest in said land is at the effective date hereof vested in: Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy, Jr., the heirs and /or devisees of Naomi Williamson, deceased, the heirs and /or devisees of Theresa Perry, deceased, and the heirs and/or devisees of Jesse Lee Williamson, deceased 5. The land referred to in this Commitment is described as follows: Lot 6, LESS the West 2.50 feet thereof, Block 1, FRANKLIN SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 5, Page 34, of the Public Records of Miami -Dade County, Florida Countersigned: Century Title & Escrow Company 13350 SW 128 Street, Suite B Miami, FL 33186- RW FORM 26.087 -66•A ALTA COMMITMENT (1966) Fidelity National Title to 1 �, Insurance Company Commitment No: WE08- 111932 Agent File No: South Miami C SCHEDULE B I (Requirements) The following are the requirements to be complied with: 1. Payment to, or for the account of, the sellers or mortgagors of the full consideration for the estate or interest to be insured. 2. Instruments) creating the estate or interest to be insured which must be approved, executed, and filed for record: a. Warranty Deeds to be executed by Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy, Jr., the heirs and/or devisees of Naomi Williamson, deceased, the heirs and /or devisees of Theresa Perry, deceased, and the heirs and/or devisees of Jesse Lee Williamson, deceased, joined by their respective spouses, if married, or reciting that the grantors are single or that the property is not their homestead property, conveying the subject property to the City of South Miami. 3. Proper probate proceedings must be undertaken in the Circuit Court of the residence of the decedent or situs of the subject property if decedent was a non - resident of Florida, regarding Theresa Perry, deceased. The Company reserves the right to make additional requirements and/or exceptions upon review. 4. Proper ancillary probate proceedings must be undertaken in the Circuit Court of Miami -Dade County, Florida, regarding Jesse Lee Williamson, deceased. The Company reserves the right to make additional- requirements- and /or- exceptions upon -review- It appears that Naomi Williamson died in 1984, and that her estate was probated at that time. Consequently, in connection with the 1984 probate of her estate, it will be necessary to record in the Miami -Dade County Public Records, copies of her Will, the Order Admitting Will to Probate, and Letters of Administration, as it is necessary to determine exactly who inherited or was devised Naomi Williamson's interest in the subject property upon her death, so that appropriate deeds can be obtained. The Company reserves the right to impose additional requirements and/or exceptions upon review. 6. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $310.50, recorded April 19, 2001, in O.R. Book 19613, Page 4100, of the Public Records of Miami - Dade County, Florida. 7. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 215, of the Public Records of Miami - Dade County, Florida. FORM 26-083-66-A ALTA COMMITMENT (1966) = Fidelity National Title Insurance Company Commitment No: WE08 -1 l 1932 Agent File No: South Miami C 8. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 217, of the Public Records of Miami - Dade County, Florida. 9. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 219, of the Public Records of Miami - Dade County, Florida. 10. Payment of real property taxes and assessments for the year 2008. 11. Provide proof by affidavit, referring to the insured land, that no judgments or liens have been filed against the parties named below, but that various matters of record have been filed against some other person or persons of similar name. Parties: Ruth Williams 12. Submit proof that any outstanding municipal and /or county tax assessments, which are due, have been paid. 13. Submit proof of payment of City of South Miami service charges for water, sewer and /or waste, if any. ............. ... .. _. ........ END OF SCHEDULE -B- I ...._.... FORM 26. 083 -66-A - AL TA COMMITMENT (1966) = Fidelity National Title EE , Insurance Company Commitment No: WE08- 111932 Agent File No: South Miami C SCHEDULE B II (Exceptions) Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the Proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2. All assessments and taxes for the year 2009 and all subsequent years, which are not yet due and payable. 3. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, - imposed by law and not shown by the public records. 4. Any encroachments, easements, measurements, variations in area or content, party walls or other facts which a correct survey of the premises would show. 5. Rights or claims of parties in possession not shown by the public records. 6. Roads, ways, streams or easements, if any, not shown by the public records, riparian rights and the title to any filled -in lands. 7._- ....Restrictions_(deleting- there- from- an- y _r-estrictions._indicating_an -y_ preference, - limitation- or---------------------------- - - - - -- - discrimination based on race, color, religion, sex, handicap, familial status or national origin), covenants, easement(s), setback(s), if any, as may be shown on the Plat recorded in Plat Book 5, Page(s) 34, of the Public Records of Miami -Dade County, Florida. 8. Any rights or interests as indicated by that certain City of South Miami Ordinance No. 22 -92 -1517, relating to abandonment of alley, recorded in O.R. Book 18779, Page 608, of the Public Records of Miami -Dade County, Florida. 9. Any rights or interests as indicated by that certain City of South Miami Ordinance No. 12 -97 -1633, relating to community redevelopment, recorded in O.R. Book 19796, Page 4490, of the Public Records of Miami -Dade County, Florida. 2008 Tax Year Parcel/Folio No.:09- 4025 -010 -0070 2008 Tax Year Gross Tax Amount: $3,214.80 Exemptions: Type: None Status of 2008 Tax Year Payment: Unpaid Assessed Value: $146,875.00 Amount: N/A FORM 26- 083 -66 -A ALTA COMMITMENT (1966) = Fidelity National. Title Me Insurance Company Commitment No: WE08- 111932 Agent File No: South Miami C NOTE: The Company reserves the right to make further requirements and/or exceptions upon its review of the proposed documents creating the estate or interest to be insured or otherwise ascertaining details of the transaction. If the proceeds of the loan to be secured by the insured mortgage are deposited with the Company or its authorized agent, Item I above shall be deemed deleted as of the time such funds are disbursed to or for the account of the borrower. Neither the company nor its agent shall, however, be under any duty to disburse any sum except upon a determination that no such adverse intervening matters have appeared of record or occurred. Items 3, 4, 5 and 6 will be deleted provided: a satisfactory current survey is submitted, if applicable; it is determined the current year's taxes or special assessments have been paid; an affidavit of possession, in recordable form, is provided; it is determined there are no filled -in lands; and there is nothing of record which would give rise to mechanic's liens which would take priority over the insured interest (where the liens would otherwise take priority, submission of waivers is necessary). Additional exceptions will be made in the policy for any appropriate matters disclosed. END OF SCHEDULE B 1I FORM 26. 083 -66-A ALTA COMMITMENT (1966) a OVA�L�r 1001 Making our Neighborhood a Great Place to Lite, Work and Flay" To: Honorable Chair and Date: February 9, 2009 SMCRA Board From: Stephen avid, ITEM No. SMCRA irecto ADDENDUM TO AGREEMENT TO PURCHASE 6487 SW 60TH A VENUE A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6487 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0080) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING THE SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111931; AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the November 13, 2008 Meeting the Board authorized purchase of 6487 SW 60th Avenue (See Exhibit A) with the intention of converting an existing blighted lot into a newly redeveloped project site. The Board approved a final purchase price of $76,000 for 6,187 square feet of vacant, underutilized land. Following Board authorization and based on a cursory review by SMCRA closing attorney, it was determined that compliance with Fidelity National Tile Commitment No. WE08- 111931 would require additional time for completion by the seller. One of the requirements of the aforementioned commitment is that all probate filings to the Circuit Court be completed prior to establishing a final closing date. Compliance with this requirement shall therefore require additional time on the part of the seller to complete. Based on the existing agreement (See Exhibit B), the required closing date is twenty (20) days from the "effective" date of the contract. According to the agreement, the effective date "is the date on which the last of the parties initials or signs and delivers final offer or counteroffer ". The current effective date of the contract is therefore November 25, 2008. Approval of the attached resolution shall authorize an addendum to the existing contract to extend the required closing date to "twenty (20) days following compliance by the Seller with the title requirements set forth in the attached Fidelity National Tile Commitment No. WE08- 111931 ". RECOMMENDATION Staff recommends approval of the attached resolution authorizing an addendum (See Exhibit C) to the existing purchase and sale agreement between Ruth Williams, Frederick David Kennedy, Lawrence David. Kennedy Jr. and the SMCRA to purchase 6487 SW 60th Avenue in order to extend the closing date of the existing contract from twenty days from the e ff etive date of the agreement to twenty (20) days following the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111931. Attachments: Property Location Map — 6487 SW 60i° Avenue Board Approved Purchase and Sale Agreement Agreement Addendum SD /MCGRUFF \PLANNING \CRA \Addendum to Agreement to Purchase 6487 SW 601° Avenue.doc 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 RESOLUTION NO. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6487 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0080) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING THE SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111931; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, during the November 13, 2008 Meeting the Board authorized purchase of 6,187 square foot property located at 6487 SW 601h Avenue for a total purchase .price of $76,000 (See Exhibit A) with the intention of converting an existing blighted lot into a newly redeveloped project site; and, WHEREAS, following Board authorization and based on a cursory review by SMCRA closing attorney, it was determined that compliance by the seller with Fidelity National Tile Commitment No. WE08- 111931 would require additional time for due diligence on the part of the seller; and WHEREAS, included as part of the requirements in the aforementioned title commitment is that all required probate filings to the Circuit Court be completed prior to a final property closing being held which shall require additional time on the part of the seller to complete; and WHEREAS, based on the existing agreement, the required closing date is twenty (20) days from the "effective" date of the contract or the date on which the last of the parties initials or signs and delivers final offer or counteroffer; and WHEREAS, based on the stipulations within the existing agreement, the current effective date of the contract is therefore November 25, 2008; and WHEREAS, the addendum attached as Exhibit 1 shall allow for a required extension of the existing closing date from twenty (20) days f ofn the effective date of the °gr° °men to twenty (20) days following, the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111931. WHEREAS, the SMCRA desires to purchase the above referenced property 1 2 3 4 5 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 to facilitate additional redevelopment opportunities in the SMCRA District. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Board authorizes the SMCRA Director to execute the agreement addendum attached as Exhibit 1 to the previously approved purchase and sale agreement with Ruth Williams, Frederick David Kennedy and Lawrence David Kennedy Jr. to purchase property located at 6487 SW 60th Avenue (Folio No. 09- 4025- 010 -0080) to extend the closing date of the contract to twenty (20) days following the Sell'er's compliance with Fidelity National Tile Commitment No. WE08- 111931 and the correction of all minor technical errors in the previously approved contract. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of February, 2009. ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS- TO FORM: APPROVED: Chairperson Horace Feliu Eve A. Boutsis, Office General Counsel South Miami Community Redevelopment Agency Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Wiscombe: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison Square Land Acquisition Map (6487 SW 60th Avenue) South Miami Community Redevelopment Agency Area N W SMCRA W7!S CRABmi ,N 11U11 in -M ■ °v i- L'N to I Eli ........................................................ U j CdVs B.-d., M1111, MEN- Boom a ® ©v ° © °v a °mm o�m on aoo ®m■ ®© !' AEI Qv o0 0 `© '0 ....... ...................................................... 111U■IN ----- --------------------- -- ------ ---------- ------ --------- - --- -- ------- SMCRA Acquired and Owned Land Parcels Including Madison Square mm� EXHIBIT B Residential Sale and Purchase Contract ' ' - FLORIDA ASSOCIATION OF REALTORS® RESIDF,NTIAI. REAL, ESTATE, 1 * 1. SALE AND PURCHASE: Frederick & Lawrence Kennedy ( "Seller ") 2* and South Miami Community Redevelopment Agency ( "Buyer") 3 agree to sell and buy on the terms and conditions specified below the property described as: 4 * Address: 6487 SW 60th Ave 5 * South Miami, FL 33143 County: Miami Dade 6 * Legal Description: Franklin Sub PB 5-34 Lot 7 less W2 5ft Blk1 & 4ft Alley Lyg S & Ado Closed per R -92 -1517 7 * Lot Size 6180sft or 20148 - 3693 -3700 11/20014 (3) Tax ID No: 09- 4025 - 0100 -0080 8 together with all existing improvements and attached items, including fixtures, built -in furnishings, major appliances (including but 9 * not limited to range(s), refrigerator(s), dishwasher(s), washer(s), and dryer(s), ( #) ceiling fans (if left blank, all ceiling fans), 10 light fixtures, attached wall -to -wall carpeting, rods, draperies and other window treatments as of Effective Date. The only other 11 * items included in the purchase are: PROPERTY SOLD FOR LAND VALUE 12* 13* 14 * The following attached items are excluded from the purchase: 15* 16 The real and personal property described above as included in the purchase is referred to as the "Property." Personal property 17 listed in this Contract is included in the purchase price, has no contributory value and is being left for Seller's convenience. 18 PRICE AND FINANCING 19 * 2. PURCHASE PRICE: $ 76.000.00 payable by Buyer in U.S. currency as follows: 20 * (a) $,3 000.00 Deposit received (checks are subject to clearance) on by 21 * for delivery to Coldwell Banker ( "Escrow Agent ") 22 Signature Name of Company 23 * (Address of Escrow Agent) 1501 Sunset Drive Coral Gables FL 33143 24 * (Phone # of Escrow Agent) {305)666 -5922 25 * (b) $ Additional deposit to be delivered to Escrow Agent by 26 * or days from Effective Date. (10 days if left blank) 27* (c) Total financing (see Paragraph 3 below) (express as a dollar amount or percentage) 28* (d) $ Other: 29 * (e) $ 73,000.00 Balance to close (not including Buyer's closing costs, prepaid items and prorations). All funds 30 paid at closing must be paid by locally drawn cashier's check, official bank check, or wired funds. 31 * 3. FINANCING: (Check as applicable) X (a) Buyer will pay cash for the Property with no financing contingency. 32 * ❑ (b) Buyer will apply for new ❑ conventional ❑ FHA ❑ VA financing specified in paragraph 2(c) at the prevailing interest rate and 33 * loan costs based on Buyer's creditworthiness (the "Financing ") within days from Effective Date (5 days if left blank) and 34 provide Seller with either a written Financing commitment or approval letter ( "Commitment") or written notice that Buyer is unable to 35 * obtain a Commitment within days from Effective Date (the earlier of 30 days after the Effective Date or 5 days prior to Closing 36 Date if left blank) ( "Commitment Period "). Buyer will keep Seller and Broker fully informed about loan application status, progress 37 and Commitment issues and authorizes the mortgage broker and lender to disclose all such information to Seller and Broker. If, 38 after using diligence and good faith, Buyer is unable to provide the Commitment and provides Seller with written notice that Buyer is 39 unable to obtain a Commitment within the Commitment Period, either party may cancel this Contract and Buyer's deposit will be 40 refunded. Buyer's failure to provide Seller with written notice that Buyer is unable to obtain a Commitment within the Commitment 41 Period will result in forfeiture of Buyer's deposit(s). Once Buyer provides the Commitment to Seller, the financing contingency is 42 waived and Seller will be entitled to retain the deposits if the transaction does not close by the Closing Date unless (1) the Property 43 appraises below the purchase price and either the parties cannot agree on a new purchase price or Buyer elects not to proceed, (2) 44 the property related conditions of the Commitment have not been met (except when such conditions are waived by other provisions 45 of this Contract), or (3) another provision of this Contract provides for cancellation. 46 CLOSING 47 4, CLOSING DATE; OCCUPANCY: Unless the Closing Date is specifically extended by the Buyer and Seller or by any other provision 48 in this Contract, the Closing Date shall prevail over all other time periods including, but not limited to, inspection and financing periods. 49 * This Contract will be closed on 20 days from effective date ( "Closing Date ") at the time established by the closing agent, by which 50 time Seller will (a) have removed all personal items and trash from the Property and swept the Property clean and (b) deliver the deed, 51 occupancy and possession, along with all keys, garage door openers and access codes, to Buyer. If on Closing Date insurance 52 underwriting is suspended, Buyer may postpone closing up to 5 days after the insurance suspension is lifted; If this transaction does not 53 close for any reason, Buyer will immediately return all Seller- provided title evidence, surveys, association documents and other items. 54 Buyer ( and Seller ( acknowledge receipt of a copy of this page, which is Page 1 of 8 Pages. FAR -9" 4/07 ©2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms"' www.TrueForms.com 800 - 499 -9612 55 5. CLOSING PROCEDURE; COSTS: Closing will take place in the county where the Property is located and may be conducted 56 by mail or electronic means. If title insurance insures Buyer for title defects arising between the title binder effective date and 57 recording of Buyer's deed, closing agent will disburse at closing the net sale proceeds to Seller and brokerage fees to Broker as 58 per Paragraph 19. In addition to other expenses provided in this Contract, Seller and Buyer will pay the costs indicated below. 59 (a) Seller Costs: 60 Taxes and surtaxes on the deed 61 Recording fees for documents needed to cure title 62 * Other: 63 * Seller will pay up to $ -0- or -0- % 0.5% if left blank) of the ,purchase price for repairs to warranted items ( "Repair 64 * Limit "); and up to $----: 0- or -0- % (1.5% if left blank) of the purchase price for wood- destroying organism treatment 65 * and repairs ("WDO 'Repair Limit "); and up to $ =0- or -0- % (1.5% if left 'blank) of the purchase price for costs 66 associated with closing out open permits and obtaining required permits for unpermitted existing improvements ( "Permit Limit "). 67 (b) Buyer Costs: 68 Taxes and recording fees on notes and mortgages 69 Recording fees on the deed and financing statements 70 Loan expenses 71 Lender's title policy 72 Inspections 73 Survey 74 Flood insurance, homeowner insurance, hazard insurance 75 * Other: 76 (c Title 'Evidence and Insurance: Check (1) or (2): 77 * R(1) The title evidence will be a Paragraph 10(a)(1) owner's title insurance commitment. Seller will select the title 78 * agent and will pay for the owners title policy, search, examination and related charges or ❑ Buyer will select the title 79 * agent and pay for the owners title policy, search, examination and related charges or ❑ Buyer will select the title agent 80 and Seller will pay for the owners title policy, search, examination and related charges. 81 * ❑ (2) Seller will provide an abstract as specified in Paragraph 10(a)(2) as title evidence. ❑ Seller ❑ Buyer will pay for the 82 owner's title policy and select the title agent. Seller will pay fees for title searches prior to closing, including tax search and 83 lien search fees, and Buyer will pay fees for title searches after closing (if any), title examination fees and closing fees. 84 (d) Prorations: The following items will be made current (if applicable) and prorated as of the day before Closing Date: real 85 estate taxes, interest, bonds, assessments, association fees, insurance, rents and other current expenses and revenues of 86 the Property. If taxes and assessments for the current year cannot be determined, taxes shall be prorated on the basis of 87 taxes for the preceding year as of the day before Closing Date and shall be computed and readjusted when the current taxes 88 are determined with adjustment for exemptions and improvements. If there are completed improvements on the Property by 89 January 1 of the year of the Closing Date, which improvements were not in existence on January 1 of the prior year, taxes 90 shall be prorated based on the prior year's millage and at an equitable assessment to be agreed upon by the parties prior to 91 Closing Date, failing which, request will be made to the County Property Appraiser for an informal assessment taking into 92 consideration available exemptions. If the County Property Appraiser is unable or unwilling to perform an informal 93 assessment prior to Closing Date, Buyer and Seller will split the cost of a private appraiser to perform an assessment prior 94 to Closing Date. Nothing in this paragraph shall act to extend the Closing Date. This provision shall survive closing. 95 (e) Special Assessment by Public Body: Regarding special assessments imposed by a public body, Seller will pay (i) the 96 full amount of liens that are certified, confirmed and ratified before closing and (ii) the amount of the last estimate of the 97 assessment if an improvement is substantially completed as of Effective Date but has not resulted in a lien before closing, 98 * and Buyer will pay all other amounts. If special assessments may be paid in installments ❑ Buyer ❑ Seller (if left blank, 99 Buyer) shall pay installments due after closing. If Seiler is checked, Seller will pay the assessment in full prior to or at the 100 time of closing. Public body does not include a Homeowner Association or Condominium Association. 101 (f) Tax Withholding: Buyer and Seller will comply with the !Foreign Investment in Real Property Tax Act, which may require 102 Seller to provide additional cash at closing if Seller is a "foreign person" as defined by federal law. 103 * g) Home Warranty: ❑ Buyer ❑ Seller X N/A will pay for a home warranty plan issued by at a cost 104 * not to exceed $ . A home warranty plan provides for repair or replacement of many of a home's mechanical 105 systems and major built -in appliances in the event of breakdown due to normal wear and tear during the agreement period. 106 PROPERTY CONDITION 107 * 6. INSPECTION PERIODS: Buyer will complete the inspections referenced in Paragraphs 7 and 8(a)(2) by 10 days from 108 * eff. date (the earlier of 10 days after the Effective Date or 5 days prior to Closing Date if left blank) ( "Inspection Period "); 109 * the wood - destroying organism inspection by (at least 5 days prior to closing, if left blank); and the 110 walk- through inspection on the day before Closing Date or any other time agreeable to the parties; and the survey referenced in 111 * Paragraph 10(c) by (at least 5 days prior to closing if left blank). 112 Buyer( L__) and Seller ( L_) acknowledge receipt of a copy of this page, which is Page 2 of 8 Pages. FAR -9 4107 ©2007 Florida Association of REALTORS@ All Rights Reserved Form generated by: True Forms' www.TrueForms.com 800 -499 -9612 113 7. REAL PROPERTY DISCLOSURES: Seller represents that Seller does not know of any facts that materially affect the value 114 of the Property, including but not limited to violations of governmental laws, rules and regulations, other than those that Buyer 115 can readily observe or that are known by or have been disclosed to Buyer. 116 (a) Energy Efficiency: Buyer acknowledges receipt of the energy- efficiency information brochure required by Section 117 553.996, Florida Statutes. 118 (b) Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient 119 quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state 120 guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained 121 from your county public health unit. Buyer may, within the Inspection Period, have an appropriately licensed person test the 122 Property for radon. If the radon level exceeds acceptable EPA standards, Seller may choose to reduce the radon level to an 123 acceptable EPA level, failing which either party may cancel this Contract. 124 (c) Flood Zone: Buyer is advised to verify by survey, with the lender and with appropriate government agencies which flood 125 zone the Property is in, whether flood insurance is required and what restrictions apply to improving the Property and rebuilding 126 in the event of casualty. If the Property is in a Special Flood Hazard Area or Coastal High Hazard Area and the buildings are 127 built below the minimum flood elevation, Buyer may cancel this Contract by delivering written notice to Seller within 20 days 128 from Effective Date, failing which Buyer accepts the existing elevation of the buildings and zone designation of the Property. 129 (d) Homeowners' Association: If membership in a homeowners' association is mandatory, an association disclosure 130 summary is attached and incorporated into this Contract. BUYER SHOULD NOT SIGN THIS CONTRACT UNTIL BUYER HAS 131 RECEIVED AND READ THE DISCLOSURE SUMMARY. 132 (e) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY 133 TAXES AS THE AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO 'PAY IN THE YEAR SUBSEQUENT 134 TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE 135 PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING 136 VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR FURTHER INFORMATION. 137 (f) Mold: Mold is part of the natural environment that, when accumulated in sufficient quantities, may present health risks to 138 susceptible persons. For more information, contact the county indoor air quality specialist or other appropriate professional. 139 (g) Coastal Construction Control Line: If any part of the Property lies seaward of the coastal construction control line as 140 defined in Section 161.053 of the Florida Statutes, Seller shall provide Buyer with an affidavit or survey as required by law 141 delineating the line's location on the Property, unless Buyer waives this requirement in writing. The Property being purchased 142 may be subject to coastal erosion and to federal, state, or local regulations that govern coastal property, including delineation 143 of the coastal construction control line, rigid coastal protection structures, beach nourishment, and the protection of marine 144 turtles. Additional information can be obtained from the Florida Department of Environmental Protection, including whether 145 there are significant erosion conditions associated with the shoreline of the Property being purchased. 146 * ❑ Buyer waives the right to receive a CCCL affidavit or survey. 147 8. MAINTENANCE, INSPECTIONS AND REPAIR: Seller will keep the Property in the same condition from Effective Date until 148 closing, except for normal wear and tear ( "Maintenance Requirement") and repairs required by this Contract. Seller will provide 149 access and utilities for Buyer's inspections. Buyer will repair all damages to the Property resulting from the inspections, 150 return the Property to its pre - inspection condition and provide Seller with paid receipts for all work done on Property upon its 151 completion. If Seller is unable to complete required repairs or treatments or meet the Maintenance Requirement prior to 152 closing, Seller will give Buyer a credit at closing for the cost of the repairs and maintenance Seller was obligated to perform. At 153 closing, Seiler will assign all assignable repair and treatment contracts to Buyer and provide Buyer with paid receipts for all 154 work done on the Property pursuant to the terms of this Contract. At closing, Seller will provide Buyer with any 155 written documentation that all open permits have been closed out and that Seller has obtained required permits for 156 improvements to the Property. 157 (a) Warranty, Inspections and Repair: 158 (1) Warranty: Seller warrants that non- leased major appliances and heating, cooling, mechanical, electrical, security, 159 sprinkler, septic and plumbing systems, seawall, dock and pool equipment, if any, are and will be maintained in 160 working condition until closing; that the structures (including roofs, doors and windows) and pool, if any, are structurally 161 sound and watertight; and that torn or missing screens and missing roof tiles will be repaired or replaced. Seller 162 warrants that all open permits will be closed out and that Seller will obtain any required permits for improvements to 163 the Property prior to Closing Date. Seller does not warrant and is not required to repair cosmetic conditions, unless the 164 cosmetic condition resulted from a defect in a warranted item. Seller is not obligated to bring any item into compliance 165 with existing building code regulations unless necessary to repair a warranted item. Working condition" means operating 166 in the manner in which the item was designed to operate and "cosmetic conditions" means aesthetic imperfections 167 that do not affect the working condition of the item, including pitted marcite; tears, worn spots and discoloration of floor 168 coverings /wallpapers /window treatments; nail holes, scratches, dents, scrapes, chips and caulking in bathroom 169 ceiling /walls /flooring /tile /fixtures/ mirrors; cracked roof tiles; curling or worn shingles; and minor cracks in floor 170 tiles / windows /ddveways/sidewalks /pool decks /garage and patio floors. 171 (2) Professional Inspection: Buyer may, at Buyer's expense, have warranted items inspected by a person who 172 specializes in and holds an occupational License (if required by law) to conduct home inspections or who holds a Florida 173 license to repair and maintain the items inspected ( "professional inspector"). Buyer must, within 5 days from the end of 174 Buyer( ) and Seller ( M ) acknowledge receipt of a copy of this page, which is Page 3 of 8 Pages. FAR -9 4/07 02007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800499 -961'2 175 the Inspection Period, deliver written notice of any items that are not in the condition warranted and a copy of the portion 176 of inspector's written report dealing with such items to Seller. If Buyer fails to deliver timely written notice, Buyer waives 177 Seller's warranty and accepts the items listed in subparagraph (a) in their "as is" conditions, except that Seller must meet 178 the maintenance requirement. 179 (3) Repair: Seller will obtain repair estimates and is obligated only to make repairs necessary to bring warranted items 180 into the condition warranted, up to the Repair Limit. Seller may, within 5 days from receipt of Buyer's notice of items 181 that are not in the condition warranted, have a second inspection made by a professional inspector and will report 182 repair estimates to Buyer. If the first and second inspection reports differ and the parties cannot resolve the differences, 183 Buyer and Seller together will choose, and equally split the cost of, a third inspector, whose written report will be binding 184 on the parties. If the cost to repair warranted items equals or is less than the Repair Limit, Seller will have the repairs 185 made in a workmanlike manner by an appropriately Licensed person. If the cost to repair warranted items exceeds 186 the Repair Limit, either party may cancel this Contract unless either party pays the excess or Buyer designates which 187 repairs to make at a total cost to Seller not exceeding the Repair Limit and accepts the balance of the Property in its "as 188 is" condition. 189 (4) Permits: Seller shall close out any open permits and remedy any violation of any governmental entity, including 190 but not limited to, obtaining any required permits for improvements to the Property, up to the Permit Limit, and with final 191 inspections completed no later than 5 days prior to Closing Date. If final inspections cannot be performed due to delays 192 by the governmental entity, Closing Date shall be extended for up to 10 days to complete such final inspections, failing 193 which, either party may cancel this Contract and Buyer's deposit shall be refunded. If the cost to close out open 194 permits or to remedy any violation of any governmental entity exceeds the Permit Limit, either party may cancel the 195 Contract unless either party pays the excess or Buyer accepts the Property in its "as is" condition and Seller credits 196 Buyer at closing the amount of the Permit Limit. 197 (b) Wood - Destroying Organisms: "Wood - destroying organism" means arthropod or plant life, including termites, powder - 198 post beetles, oldhouse borers and wood - decaying fungi, that damages or infests seasoned wood in a structure, excluding 199 fences. Buyer may, at Buyer's expense, have the Property inspected by a Florida- licensed pest control business to 200 determine the existence of past or present wood- destroying organism infestation and damage caused by infestation. If the 201 inspector finds evidence of infestation or damage, Buyer will deliver a copy of the inspector's written report to Seller within 5 days 202 from the date of the inspection. If Seller previously treated the Property for the type of wood - destroying organisms found, 203 Seller does not have to treat the Property again if (i) there is no visible live infestation, and (ii) Seller transfers to Buyer at 204 closing a current full treatment warranty for the type of wood - destroying organisms found. Otherwise, Seller will have 5 days 205 from receipt of the inspector's report to have reported damage estimated by a licensed building or general contractor and corrective 206 treatment estimated by a licensed pest control business. Seller will have treatments and repairs made by an appropriately licensed 207 person at Seller's expense up to the WDO Repair Limit. If the cost to treat and repair the Property exceeds the WDO Repair Limit, 208 either party may pay the excess, failing which either party may cancel this Contract by written notice to the other. If Buyer fails to 209 timely deliver the inspector's written report, Buyer accepts the Property "as is" with regard to wood- destroying organism infestation 210 and damage, subject to the maintenance requirement. 211 (c) Walk- through Inspection /Reinspection: Buyer, and/or Buyer's representative, may walk through the Property solely 212 to verify that Seller has made repairs required by this Contract, has met the Maintenance Requirement and has met 213 contractual obligations. If Buyer, and /or Buyer's representative, fails to conduct this inspection, Seller's repair obligations 214 and Maintenance Requirement will be deemed fulfilled. 215 9. RISK OF LOSS: If any portion of the Property is damaged by fire or other casualty before closing and can be restored by the 216 Closing Date or within 45 days after the Closing Date to substantially the same condition as it was on Effective Date, Seller, 217 will, at Seller's expense, restore the Property and deliver written notice to Buyer that Seller has completed the restoration, and 218 the parties will close the transaction on the later of: (1) Closing Date; or, (2) 10 days after Buyer's receipt of Seller's notice. 219 Seller will not be obligated to replace trees. If the restoration cannot be completed in time, Buyer may cancel this Contract 220 and Buyer's deposit shall be refunded, or Buyer may accept the Property "as is ", and Seller will credit the deductible and 221 assign the insurance proceeds, if any, to Buyer at closing in such amounts as are (i) attributable to the Property and (ii) not yet 222 expended in restoring the Property to the same condition as it was on Effective Date. 223 TITLE 224 10. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal representative or 225 guardian deed as appropriate to Seller's status. 226 (a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller in accordance with 227 current title standards adopted by the Florida Bar, subject only to the following title exceptions, none of which prevent residential use 228 of the Property: covenants, easements and restrictions of record; matters of plat; existing zoning and government regulations; oil, 229 gas and mineral rights of record if there is no right of entry; current taxes; mortgages that Buyer will assume; and encumbrances 230 that Seller will discharge at or before closing. Seller will, at least 2 days prior to closing, deliver to Buyer, Seller's choice of one of 231 the following types of title evidence, which must be generally accepted in the county where the Property is located (specify in 232 Paragraph 5(c) the selected type). Seller will use option (1) in Palm Beach County and option (2) in Miami -Dade County. 233 (1) A title insurance commitment issued by a Florida- licensed title insurer in the amount of the purchase price and 234 subject only to title exceptions set forth in this Contract. 235 (2) An existing abstract of title from a reputable and existing abstract firm (if firm is not existing, then abstract must be 236 certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to the 237 Buyer( H U and Seller ( acknowledge receipt of a copy of this page, which is Page 4 of 8 'Pages. FAR -9 4/07 02007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 -499 -9612 238 Property recorded in the public records of the county where the Property is located and certified to Effective Date. 239 However, if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed 240 insurer as a base for reissuance of coverage. Seller will pay for copies of all policy exceptions and an update in a format 241 acceptable to Buyer's closing agent from the policy effective date and certified to Buyer or Buyer's closing agent, 242 together with copies of all documents recited in the prior policy and in the update. If a prior policy is not available to Seller 243 then (1) above will be the title evidence. Title evidence will be delivered no later than 10 days before Closing Date. 244 (b) Title Examination: Buyer will examine the title evidence and deliver written notice to Seller, within 5 days from receipt of 245 title evidence but no later than Closing Date, of any defects that make the title unmarketable. Seller will have 30 days from 246 receipt of Buyer's notice of defects ( "Curative Period ") to cure the defects at Seller's expense. If Seller cures the defects 247 within the Curative Period, Seller will deliver written notice to Buyer and the parties will close the transaction on Closing 248 Date or within 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the 249 defects within the Curative Period, Seller will deliver written notice to Buyer and Buyer will, within 10 days from receipt of 250 Seller's notice, either cancel this Contract or accept title with existing defects and close the transaction. 251 (c) Survey: Buyer may, at Buyer's expense, have the Property surveyed and deliver written notice to Seller, within 5 days from 252 receipt of survey but no later than closing, of any encroachments on the Property, encroachments by the Property's improvements 253 on other lands or deed restriction or zoning violations. Any such encroachment or violation will be treated in the same manner as a 254 title defect and Buyer's and Seller's obligations will be determined in accordance with subparagraph (b) above. 255 MISCELLANEOUS 256 11. EFFECTIVE DATE; TIME; FORCE MAJEURE: 257 (a) Effective Date: The "Effective Date" of this Contract is the date on which the last of the parties initials or signs and 258 delivers the final offer or counteroffer. Time is of the essence for all provisions of this Contract. 259 (b) Time: All time periods will be computed in business days (a "business day" is every calendar day except Saturday, Sunday 260 and national legal holidays). If any deadline falls on a Saturday, Sunday or national legal holiday, performance will be due the 261 next business day. All time periods will end at 5 :00 p.m. local time (meaning in the county where the 'Property is 262 located) of the appropriate day. 263 (c) Force Majeure: Buyer or Seller shall not be required to perform any obligation under this Contract or be liable to 264 each other for damages so long as the performance or non - performance of the obligation is delayed, caused or prevented 265 by an act of God or force majeure. An "act of God" or "force majeure" is defined as hurricanes, earthquakes, floods, fire, 266 unusual transportation delays, wars, insurrections and any other cause not reasonably within the control of the Buyer or 267 Seller and which by the exercise of due diligence the non - performing party is unable in whole or in part to prevent or 268 overcome. All time ,periods, including Closing Date, will be extended (not to exceed 30 days) for the period that the force 269 majeure or act of God is in place. In the event that such "act of God" or "force majeure" event continues beyond the 30 270 days in this sub - paragraph, either party may cancel the Contract by delivering written notice to the other and Buyer's 271 deposit shall be refunded. 272 12. NOTICES: All notices shall be in writing and will be delivered to the parties and Broker by mail, personal delivery or 273 electronic media. Except for the notices required by Paragraph 3 of this Contract, Buyer's failure to deliver timely written 274 notice to Seller, when such notice is required by-this Contract, regarding any contingencies will render that 275 contingency null and void and the Contract will be construed as if the contingency did not exist. Any notice, document 276 or item delivered to or received by an attorney or licensee (including a transaction broker) representing a party will be 277 as effective as if delivered to or by that party. 278 13. COMPLETE. AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage 279 agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract. 280 Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound. 281 Signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated electronically 282 or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted 283 in or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid or 284 unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller will use diligence and good faith in 285 performing all obligations under this Contract. This Contract will not be recorded in any public records. 286 14. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The 287 terms "Buyer," "Seller," and "Broker" may be singular or plural. This Contract is binding on the heirs, administrators, executors, 288 personal representatives and assigns (if permitted) of Buyer, Seller and Broker. 289 DEFAULT AND DISPUTE RESOLUTION 290 15. DEFAULT: (a) Seller Default: If for any reason other than failure of Seller to make Seller's title marketable after diligent effort, 291 Seller fails, refuses or neglects to perform this Contract, Buyer may choose to receive a return of Buyer's deposit without waiving the 292 right to seek damages or to seek specific performance as per Paragraph 16. Seller will also be liable to Broker for the full amount of the 293 brokerage fee. (b) Buyer Default: If Buyer fails to perform this Contract within the time specified, including timely payment of all deposits, 294 Seller may choose to retain and collect all deposits paid and agreed to be paid as liquidated damages or to seek specific performance as 295 Buyer ( and Seller (_) (_) acknowledge receipt of a copy of this page, which is Page 5 of 8 Pages. FAR -9 4107 ©2007 Florida Association of REALTORSO All Rights Reserved Form generated by: TrUBForms'" www.TrueForms.com 800 -499 -9612 296 per Paragraph 16; and Broker will, upon demand, receive 50% of all deposits paid and agreed to be paid (to !be split equally among 297 Broker) up to the full amount of the brokerage fee. 298 16. DISPUTE RESOLUTION: This Contract will be construed under Florida law. All controversies, claims and other matters in 299 question arising out of or relating to this transaction or this Contract or its breach will be settled as follows: 300 (a) Disputes concerning entitlement to deposits made and agreed to be made: Buyer and Seller will have 30 days from 301 the date conflicting demands are made to attempt to resolve the dispute through mediation. If that fails, Escrow Agent will 302 submit the dispute, if so required by Florida law, to Escrow Agent's choice of arbitration, a Florida court or the Florida Real 303 Estate Commission ('FREC"). Buyer and Seller will be bound by any resulting award, judgment or order. A broker's 304 obligation under Chapter 475, FS and the FREC rules to timely notify the FREC of an escrow dispute and timely resolve the 305 escrow dispute through mediation, arbitration, interpleader or an escrow disbursement order, if the broker so chooses, 306 applies to brokers only and does not apply to title companies, attorneys or other escrow companies. 307 (b) All other disputes: Buyer and Seller will have 30 days from the date a dispute arises between them to attempt to 308 resolve the matter through mediation, failing which the parties will resolve the dispute through neutral binding arbitration in 309 the county where the Property is located. The arbitrator may not alter the Contract terms or award any remedy not provided 310 for in this Contract. The award will be based on the greater weight of the evidence and will state findings of fact and the 311 contractual authority on which it is based. If the parties agree to use discovery, it will be in accordance with the Florida Rules 312 of Civil Procedure and the arbitrator will resolve all discovery- related disputes. Any disputes with a real estate licensee or 313 firm named in Paragraph 19 will be submitted to arbitration only if the licensee's' broker consents in writing to become a party 314 to the proceeding. This clause will survive closing. 315 (c) Mediation and Arbitration; Expenses: "Mediation" is a process in which parties attempt to resolve a dispute by 316 submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to impose a 317 settlement on the parties. Mediation will be in accordance with the rules of the American Arbitration Association ("AAA") or 318 other mediator agreed on by the parties. The parties will equally divide the mediation fee, if any. "Arbitration" is a process in 319 which the parties resolve a dispute by a hearing before a neutral person who decides the matter and whose decision is 320 binding on the parties. Arbitration will be in accordance with the rules of the AAA or other arbitrator agreed on by the parties. 321 Each party to any arbitration will pay its own fees, costs and expenses, including attorneys' fees, and will equally split the 322 arbitrators' fees and administrative fees of arbitration. 323 ESCROW AGENT AND BROKER 324 17. ESCROW AGENT: Buyer and Seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow 325 and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this 326 Contract, including disbursing brokerage fees. The parties agree that Escrow Agent will not be liable to any person for misdelivery of 327 escrowed items to Buyer or Seller, unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence. 328 If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will 329 recover reasonable attorneys' fees and costs to be paid from the escrowed funds or equivalent and charged and awarded as court 330 costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 331 18. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify all facts and representations that 332 are important to them and to consult an appropriate professional for legal advice (for example, interpreting contracts, determining the 333 effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, the effect of property lying 334 partially or totally seaward of the coastal construction control line, etc.) and for tax, property condition, environmental and other 335 specialized advice. Buyer acknowledges that Broker does not reside in the Property and that all representations (oral, written or 336 otherwise) by Broker are based on Seller representations or public records. Buyer agrees to rely solely on Seller, professional 337 inspectors and governmental agencies for verification of the Property condition, square footage and facts that materially 338 affect Property value. Buyer and Seller respectively will pay all costs.and expenses, including reasonable attorneys' fees at all levels, 339 incurred by Broker and Broker's officers, directors, agents and employees in connection with or arising from Buyer's or Seller's 340 misstatement or failure to perform contractual obligations. Buyer and Seller hold harmless and release Broker and Broker's officers, 341 directors, agents and employees from all liability for loss or damage based on (1) Buyer's or Seller's misstatement or failure to perform 342 contractual obligations; (2) Broker's performance, at Buyer's and /or Seller's request, of any task beyond the scope of services 343 regulated by Chapter 475, F.S., as amended, including .Broker's referral, recommendation or retention of any vendor; (3) products or 344 services provided by any vendor; and (4) expenses incurred by any vendor. Buyer and Seller each assume full responsibility for 345 selecting and compensating their respective vendors. This paragraph will not relieve Broker of statutory obligations. For purposes of this 346 paragraph, Broker will be treated as a party to this Contract. This paragraph will survive closing. 347 19. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as "Broker." Instruction to Closing 348 Agent: Seller and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in 349 separate brokerage agreements with the parties and cooperative agreements between the brokers, except to the extent Broker 350 has retained such fees from the escrowed funds. In the absence of such brokerage agreements, closing agent will disburse 351 brokerage fees as indicated below. This paragraph will not be used to modify any MLS or other offer of compensation made by 352 Seller or listing broker to cooperating brokers. 353' Buyer( and Seller (-) ( acknowledge receipt of a copy of this page, which is Page 6 of 8 Pages. FAR -9 4107 02007 Florida Association of REALTORSB All Rights Reserved Form generated by: True Forms' www.TrueForms.com 800 -499 -9612 354 * Oliver von Gundlach 3058563 Coldwell Banker 355 * Selling Sales Associate /License No. Selling Firm/Brokerage Fee: ($ or % of Purchase Price) 3% 356* Oliver von Gundlach 3058563 Coldwell Banker 357 * Listing Sales Associate/License No. Listing Firm /Brokerage Fee: ($ or % of Purchase Price) 3% 358 ADDENDA AND ADDITIONAL TERMS 359 20. ADDENDA: The following additional terms are included in the attached addenda and incorporated into this Contract (check 360 if applicable): 361 * ❑ A. Condo. Assn. ® H. As Is w/Right to inspect ❑ O. Interest - Bearing Account X V. Prop. Disclosure Stmt. 362 * ❑ B. Homeowners' Assn. ❑ I. Inspections ❑ P. Back -up Contract [:]W. FIRPTA 363 * ❑ C. Seller Financing ❑ J. Insulation Disclosure ❑ Q. Broker - Pers. Int. in Prop. ❑ X. 1031 Exchange 364 * ❑ D. Mort. Assumption ®'K. Pre -1978 Housing Stmt. (LBP) ❑ R. Rentals ❑ Y. Additional Clauses 365 * ❑ E. FHA Financing ❑'L. Insurance ❑ S. Sale/Lease of Buyer's Property ❑ Other 366 * ❑ F. VA Financing ❑ M. Housing Older Persons E] T. Rezoning ❑ Other 367 * ❑ G. New Mort. Rates ❑ N. Lease purchase /Lease option ❑ U. Assignment ❑ Other 368 21. ADDITIONAL TERMS: 369 Pursuant to Section 475.42(1)0), Fla. Stat., Seller and Buyer hereby grant Broker the right to place a lien on the Property to 370 ensure payment of services rendered. For purposes of this paragraph, Broker will be treated as a party to this Contract. 371 372 In addition to any brokerage fee noted in paragraph 19, Coldwell Banker Residential (Real Estate LLC will collect a $295 373 brokerage fee from its Btipep(s) am& PSeller(s) as agreed to in the Seller's 374 Listing Agreement. 375 376 Buyer and Seller agree that Coldwell Banker, if acting as escrow agent, will deposit the escrowed funds in a non- interest- 377 bearing account with a financial institution chosen by Coldwell Banker and that the financial institution, Coldwell Banker or any 378 of its related companies may obtain a direct or indirect benefit in connection with such deposit. 379 380 Buyer should not execute this contract until buyer has received and read the disclosure summary if required by section 720.401, 381 Florida Statutes which, if required, is incorporated into this contract. IF THE DISCLOSURE SUMMARY REQUIRED BY SECTION 382 720.401, FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO THE PROSPECTIVE PURCHASER BEFORE EXECUTING THIS 383 CONTRACT FOR SALE, THIS CONTRACT IS VOIDABLE BY BUYER BY DELIVERING TO SELLER OR SELLER'S AGENT OR 384 REPRESENTATIVE WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 3 DAYS AFTER RECEIPT OF THE 385 DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY PURPORTED WAIVER OF THIS 386 VOIDABILITY RIGHT HAS NO EFFECT. BUYER'S RIGHT TO VOID THIS CONTRACT SHALL TERMINATE AT CLOSING. 387* 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 Buyer( O and Seller acknowledge receipt of a copy of this page, which is Page 7 of 8 Pages. FAR -9 4/07 ©2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 - 499 -9612 411 This is intended to be a legally binding contract. If not fully understood, seek the advice of an attorney prior to signing. 412 OFFER AND ACCEPTANCE 413 * (Check if applicable: ® Buyer received a written real property disclosure statement from Seller before making this Offer.) 414 Buyer offers to purchase the Property on the above terms and conditions. Unless this Contract is signed by Seller and a copy 415 * delivered to Buyer no later than 5.00 ❑ a.m..® p.m. on 11/26/2008 , this offer will be 416 revoked and Buyer's deposit refunded subject to clearance of funds. 417 COUNTER OFFERIREJECTION 418 * ❑ Seller counters Buyer's offer (to accept the counter offer, Buyer must sign or initial the counter offered terms and deliver a 419 copy of the acceptance to Seller. Unless otherwise stated, the time for acceptance of any counteroffers shall be 2 days from the 420 * date the counter is delivered. ❑ Seller rejects Buyer's offer. 421 * Date: 11/12/2008 Buyer: 422 * Print name: SMCRA Director 423* Date: 11/12/2008 Buyer: 424* Phone: Print name: SMCRA Attorney 425 * Fax: Address: * 426 * E -mail: 427 * Date: 428 * 429 * Date: 430* Phone: 431 * Fax: * 432 * E -mail: 433 * Seller: Print name: Seller. Frederick Ken Print name: Lawrence Kennedy Address: Effective Date: (The date on which the last party signed or initialed and delivered the final offer or counteroffer.) 434 Buyer( ) and Seller (_ ) acknowledge receipt of a copy of this page, which is Page 8 of 8 Pages. The Florida Association of REALTORS and local Board/Association of REALTORS make no representation as to the legal validity or adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR. REALTOR is a registered collective membership mark that may be used only by real estate licensees who are members of the National Association of REALTORS and who subscribe to its Code of Ethics. The copyright laws of the United States (17 U-S. Code) forbid the unauthorized reproduction of blank forms by any means including facsimile or computerized forms. FAR -9 4/07 02007 Florida Association of REALTORS@ All Rights Reserved Form generated by: True Forms" www.TrueForms.com 800 -499 -9612 REALiOR� w- cvnuiv Addendum Lott & Levine EXHIBIT B FLORIDA p 9155 South Dadeland Blvd., Suite 1014 Miami, Florida 33156 Tel (305)670 -0700, Fax (305)670 -0701 Addendum No. 1 to the Contract dated between RUTH WILLIAMS FREDERICK DAVID KENNEDY LAWRENCE DAVID KENNEDY JR et al.. (Seller) and SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (Buyer) concerning the property described as: Lot 7, LESS the West 2.50 feet thereof, Block 1, FRANKLYN SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 5, Page 34, of the Public Records of Miami -Dade County, Florida (the `'Contract "). Buyer and Seller make the fallowing terms and conditions part of the Contract: The date for closing of the transaction is extended to on or before 20 days following Sellers' compliance with the title requirements set forth in the attached Fidelity National Title Insurance Commitment No.WE08- 111931. Sellers shall use diligent efforts to comply with all requirements of the Title Commitment, at their expense. In the event that Sellers are unable to comply with such title requirements within 90 days of the date hereof, then Buyer, at Buyer's sole option, may, but shall not be required to, extend the time period for Sellers to comply with all such title requirements. If Buyer, in Buyer's sole discretion, chooses not to extend the time for Sellers to comply with all title requirements, Buyer may cancel the Contract, whereupon all deposits shall immediately be returned to the Buyer. In the event that there is any conflict between this Addendum and the Contract, the terms of this Addendum shall prevail. South Miami Community Redevelopment Agency Date: Buyer: its LAnr_tor Date: Date: Seller: Ftedmick David Rn-edy Date: Seller: . ACSP -2 Rev. 6/94 © 1994 Florida Association of REALTORS® All Rights Reserved. Licensed to Alta Star. User Reg# S- 23GACY3302022POJ -1021 Software and Added Formatting Copyright 2004 Alta Star Software, Inc. All Rights Reserved. (305) 279 -8898 ALTA STIR SOFTWARE 111 Fidelity National Title Insurance Company Commitment No: WE08- 1 1 193 1 Agent File No: South Miami B JA /JA Agent File No. South Miami B SCHEDULE A I . Effective date: November 14, 2008 at 8:00 A.M. 2. Policy or Policies to be issued: (a) ALTA Owner's Policy (Rev. 10- 17 -92) with Florida Modifications Amount $76,000.00 Proposed Insured: City of South Miami (b) ALTA I..oan Policy (Rev. 10- 17 -92) with Florida Modifications Amount $ Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: FEE SIMPLE 4. Title to the FEE SIMPLE estate or interest in said land is at the effective date hereof vested in: Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy, Jr., the heirs and /or devisees of Naomi Williamson, deceased, the heirs and/or devisees of Theresa Perry, deceased, and the heirs and/or devisees of Jesse Lee Williamson, deceased - -- - .... ....... .._ 5. The land referred to in this Commitment is described as follows: Lot 7, LESS the West 2.50 feet thereof, Block 1, FRANKLIN SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 5, Page 34, of the Public Records of Miami -Dade County, Florida Countersigned: Century Title & Escrow Company 13350 SW 128 Street, Suite B Miami, FL 33186- FORM 26. 083.66 -A ALTA COMMITMENT (1966) Fidelity National Title Insurance Company Commitment No: WE08- 1 1 193 1 Agent File No: South Miami B SCHEDULE B I (Requirements) The following are the requirements to be complied with: 1. Payment to, or for the account of, the sellers or mortgagors of the full consideration for the estate or interest to be insured. 2. Instrument(s) creating the estate or interest to be insured which must be approved, executed, and filed for record: a. Warranty Deeds to be executed by Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy, Jr., the heirs and /or devisees of Naomi Williamson, deceased, the heirs and /or devisees of Theresa Pent', deceased, and the heirs and/or devisees of Jesse Lee Williamson, deceased, joined by their respective spouses, if married, or reciting that the grantors are single or that the property is not their homestead property, conveying the subject property to the City of South Miami. 3. Proper probate proceedings must be undertaken in the Circuit Court of the residence of the decedent or situs of the subject property if decedent was a non - resident of Florida, regarding Theresa Perry, deceased. The Company reserves the right to make additional requirements and/or exceptions upon review. 4. Proper ancillary probate proceedings must be undertaken in the Circuit Court of Miami -Dade County, Florida, regarding Jesse Lee Williamson, deceased. The Company reserves the right to make - additional- requirements - and /or-exceptions -upon review. - - 5. It appears. that Naomi Williamson died in 1984, and that her estate was probated at that time. Consequently, in connection with the 1984 probate of her estate, it will be necessary to record in the Miami -Dade County Public Records, copies of her Will, the Order Admitting Will to Probate, and Letters of Administration, as it is necessary to determine exactly who inherited or was devised Naomi Williamson's interest in the subject property upon her death, so that appropriate deeds can be obtained. The Company reserves the right to impose additional requirements and/or exceptions upon review. 6. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $310.50, recorded April 19, 2001, in O.R. Book 19613, Page 4100, of the Public Records of Miami - Dade County, Florida. 7. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 215, of the Public Records of Miami - .Dade County, Florida. FORM 26-087 -66 -A' ALTA COMMITMENT (1966) 1111 Fidelity National Title Insurance Company Commitment No: WE08- 111931 Agent File No: South Miami B 8. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 217, of the Public Records of Miami - Dade County, Florida. 9. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 219, of the Public Records of Miami - Dade County, Florida. 10. Payment of real property taxes and assessments for the year 2008. 11. Provide proof by affidavit, referring to the insured land, that no judgments or liens have been filed against the parties named below, but that various matters of record have been filed against some other person or persons of similar name. Parties: Ruth Williams 12. Submit proof that any outstanding municipal and /or county tax assessments, which are due, have been paid. 13. Submit proof of payment of City of South Miami service charges for water, sewer and /or waste, if any. "END OF SCHEDULE _B ..I .... .._. .. ____ FORM 26 -083 -66 -A ALTA COMMITMENT (1966) = Fidelity National Title Insurance Company Commitment No: WE08- 1 1 193 1 Agent File No: South Miami B SCHEDULE B II (Exceptions) Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the Proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2. All assessments and taxes for the year 2009 and all subsequent years, which are not yet due and payable. 3. Any lien or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 4. Any encroachments, easements, measurements, variations in area or content, party walls or other facts which a correct survey of the premises would show. 5. Rights or claims of parties in possession not shown by the public records. 6. Roads, ways, streams or easements, if any, not shown by the public records, riparian rights and the title to any filled -in lands. 7 ... . ..... Restrictions..( deleting_ there_from_an_y__restrictions indicating.any preference,. limitation ............ ____. discrimination based on race, color, religion, sex, handicap, familial status or national origin), covenants, easement(s), setback(s), if any, as may be shown on the Plat recorded in Plat Book 5, Page(s) 34, of the Public Records of Miami -Dade. County, Florida. 8. Any rights or interests as indicated by that certain City of South Miami Ordinance No. 22 -92 -1517, relating to abandonment of alley, recorded in O.R. Book 18779, Page 608, of the Public Records of Miami -Dade County, Florida. 9. Any rights or interests as indicated by that certain City of South Miami Ordinance No. 12 -97 -1633, relating to community redevelopment, recorded in O.R. Book 19796, Page 4490, of the Public Records of Miami -Dade County, Florida. 10. Rights of tenants occupying all or part of the insured land under unrecorded leases or rental agreements. FORM 26-083.66 -A - - ALTA COMMITMENT (1966) = �„ � Fidelity National Title E Insurance Company low Commitment No: WE08- 111931 Agent File No: South Miami B 2008 Tax Year Parcel/Folio No.: 09- 4025- 010 -0080 2008 Tax Year Gross Tax Amount: $4,440.19 Exemptions: Type: None Status of 2008 Tax Year Payment: Unpaid Assessed Value: $202,860.00 Amount: N/A NOTE: The Company reserves the right to make fiirther requirements and/or exceptions upon its review of the proposed documents creating the estate or interest to be insured or otherwise ascertaining details of the transaction. If the proceeds of the loan to be secured by the insured mortgage are deposited with the Company or its authorized agent, Item 1 above shall be deemed deleted as of the time such funds are disbursed to or for the account of the borrower. Neither the company nor its agent shall, however, be under any duty to disburse any sum except upon a determination that no such adverse intervening matters have appeared of record or occurred. Items 3, 4, 5 and 6 will be deleted provided: a satisfactory current survey is submitted, if applicable; it is determined the current year's taxes or special assessments have been paid; an affidavit of possession, in recordable form, is provided; it is determined there are no filled -in lands; and there is nothing of record which would give rise to mechanic's liens which would take priority over the insured interest (where the liens would otherwise take priority, submission of waivers is necessary). Additional exceptions will be made in the policy for any appropriate matters disclosed. END OF SCHEDULE B It FORM 26.083.66 -A ALTA COMMITMENT (1966) E-1 ►'t L49 :1.1 2001 'Making our Neighborhood a Great Place to Live, Work and Pia/' To: Honorable it and -- SMCrnRavid, oard Members From: Steph SMC irect Date: February 9, 2009 ITEM No. ADDENDUM TO AGREEMENT TO PURCHASE 6488 SW 60TH A VENUE A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH RUTH WILLIAMS, FREDERICK DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR ET AL TO PURCHASE PROPERTY LOCATED AT 6488 SW 60TH AVENUE (FOLIO NO. 09- 4025- 000 -0850) TO EXTEND THE REQUIRED PROPERTY CLOSING DATE PENDING THE SELLER'S COMPLETION OF TITLE REQUIREMENTS SET FORTH IN TITLE COMMITMENT NO. WE08- 111932; AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the November 13, 2008 Meeting the Board authorized purchase of 6488 SW 601h Avenue (See Exhibit A) with the intention of converting an existing blighted lot into a newly redeveloped project site. The Board approved a final purchase price of $452,000 for 35,512 square feet of vacant, underutilized land. Following Board authorization and based on a cursory review by SMCRA closing attorney, it was determined that compliance with Fidelity National Tile Commitment No. WE08- 111932 would require additional time for completion by the seller. One of the requirements of the aforementioned commitment is that all probate filings to the Circuit Court be completed prior to establishing a final closing date. Compliance with this requirement shall therefore require additional time on the part of the seller to complete. Based on the existing agreement (See Exhibit B), the required closing date is twenty (20) days from the "effective" date of the contract. According to the agreement, the effective date "is the date on which the last of the parties initials or signs and delivers final offer or counteroffer ". The current effective date of the contract is therefore November 25, 2008. Approval of the attached resolution shall authorize an addendum to the existing contract to extend the required closing date to "twenty (20) days following compliance by the Seller with the title requirements set forth in the attached Fidelity National Tile Commitment No. WE08- 111932 ". RECOMMENDATION Staff recommends approval of the attached resolution authorizing an addendum (See Exhibit C) to the existing purchase and sale agreement between Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy Jr. and the SMCRA to purchase 6488 SW 601h Avenue in order to extend the closing date of the existing contract from to twenty (20) days following the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111932. Attachments: Property Location Map — 6488 SW 60'h Avenue Board Approved Purchase and Sale Agreement Agreement Addendum SD /MCGRUFF \PLANNING \CRA \Addendum to Agreement to Purchase 6488 SW 60 °i Avenue.doc . 1 RESOLUTION NO. 2 3 4 A RESOLUTION OF THE CITY OF SOUTH MIAMI 5 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 6 RELATING TO LAND ACQUISITION; AUTHORIZING AN 7 AMENDMENT TO THE APPROVED PURCHASE AND SALE 8 AGREEMENT WITH RUTH WILLIAMS, FREDERICK 9 DAVID KENNEDY AND LAWRENCE DAVID KENNEDY JR 10 ET AL TO PURCHASE PROPERTY LOCATED AT 6488 SW 11 60" AVENUE (FOLIO NO. 09- 4025 - 000 -0850) TO EXTEND 12 THE REQUIRED PROPERTY CLOSING DATE PENDING 13 THE SELLER'S COMPLETION OF TITLE REQUIREMENTS 14 SET FORTH IN TITLE COMMITMENT NO. WE08- 111932; 15 AND PROVIDING AN EFFECTIVE DATE. 16 17 WHEREAS, during the November 13, 2008 Meeting the Board authorized 18 purchase of a 35,512 square foot property located 6488 SW 60th Avenue for a total 19 purchase price of $452,000 with the intention of converting an existing blighted lot 20 into a newly redeveloped project site; and, 21 22 WHEREAS, following Board authorization and based on a cursory review by 23 SMCRA closing attorney, it was determined that compliance by the seller with 24 Fidelity National Tile Commitment No. WE08- 111932 would require additional time 25 for due diligence on the part of the seller; and 26 27 WHEREAS, included as part of the requirements in the aforementioned title 28 commitment is that all required probate filings to the Circuit Court be completed 29 prior to a final property closing being held which shall require additional time on the 30 part of the seller to complete; and 31 32 WHEREAS, based on the existing agreement, the required closing date is 33 twenty (20) days from the "effective" date of the contract or the date on which the 34 last of the parties initials or signs and delivers final offer or counteroffer; and 35 36 WHEREAS, based on the stipulations within the existing agreement, the 37 current effective date of the contract is therefore November 25, 2008; and 38 39 WHEREAS, the addendum attached as Exhibit 1 shall allow for a required 40 extension of the existing closing date from 4 _nt ° (20) days ffem the effeetive date 41 of the agree men to twenty (20) days following the Seller's compliance with Fidelity 42 National Tile Commitment No. WE08- 111932. 43 44 WHEREAS, the SMCRA desires to purchase the above referenced property Page 1 of 2 1 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 to facilitate additional redevelopment opportunities in the SMCRA District. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Board authorizes the SMCRA Director to execute the agreement addendum attached as Exhibit 1 to the previously approved purchase and sale agreement with Ruth Williams, Frederick David Kennedy and Lawrence David Kennedy Jr. to purchase property located at 6488 SW 60'' Avenue (Folio No. 09- 4025- 000 -0850) to extend the closing date of the contract to twenty (20) days following the Seller's compliance with Fidelity National Tile Commitment No. WE08- 111932 and the correction of all minor technical errors in the previously approved contract. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM day of February, 2009. Chairperson Horace Feliu Eve A. Boutsis, Office General Counsel South Miami Community Redevelopment Agency Page 2 of 2 Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Wiscombe: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison Square Land Acquisition Map (6488 SW 601h Avenue) South Miami Community Redevelopment Agency Area N W &N E "SMCRAk' 'W S L� y. CRA �undaw 7--F-T. WIN am ®o�000 v � �0 an o -00 IBM ........................................................ 1( L[ 41 1 ........... ................................... M.... . nT� " 7 7- sm.111111 - I 1 -1 - ---------- ----- ---------------- ------------------------------------ ------------- SMCRA Acquired and Owned Land Parcels Including Madison Square mmmm� EXHIBIT B Vacant Land Contract FLORIDA ASSOCIATION OF REALTORS® RESIDENTIAL REAL ESTATE 1 PARTIES AND DESCRIPTION OF PROPERTY 2* 1. SALE AND PURCHASE: Naomi Williams Etals & Frederick & Lawrence Kennedy ( "Seller ") 3* and South Miami Community Redevelopment Agency ( "Buyer ") 4 agree to sell and buy on the terms and conditions specified below the property ( "Property") described as: 5* Address: 6488 SW 60th Ave folio# 09 -4025- 000 -0850 South Miami, FL 33143 6* Legal Description: 25 54 40.815 ac M/L S444ft of E1 /2 of NW1 /4 of NW1 /4 of SE1/4 less W100ft Mess S80ft of N296ft of 7* E50ft of W150ft of E112 of NW1 /4 of NW1 /4 of SE1 /4 Mess bed 100ft of SW cor of E1/2 ofNW1 /4 of NW1 /4 of SE1 /4 TH 8* N184ft E127.59ft N55ft E105ft S235ft W232.59ft TO POB & less E137.10ft of N93.1ft 9* 10* 11* 12* including all improvements and the following additional property: 13* 14* 15 PRICE AND FINANCING 16* 2. PURCHASE PRICE: $ 452,000.00 payable by Buyer in U.S. funds as follows: 17* (a) $ 3,000.00 Deposit received (checks are subject to clearance) on , by 18* for delivery to Coldwell Banker ( "Escrow Agent ") 19 Signature Name of Company 20* (Address of Escrow Agent) 1501 Sunset Drive Coral Gables FL 33143 21 * (Phone # of Escrow Agent) (305)666 -5922 22* (b) $ Additional deposit to be delivered to Escrow Agent by , 23* or days from Effective Date. (10 days if left blank). 24* (c) Total financing (see Paragraph 3 below) (express as a dollar amount or percentage) 25* (d) $ Other: 26* (e) $ 449.000.00 Balance to close (not including Buyer's closing costs, prepaid items and prorations). All funds 27 paid at closing must be paid by locally drawn cashiers check, official check, or wired funds. 28* ❑ (f) (complete only if purchase rice will be determined based on a per unit cost instead of a fixed price) The unit used to 29* determine the purchase price is El lot ❑ acre ❑ square foot ❑ other (specify: ) prorating 30* areas of less than a full unit. The purchase price will be $ per unit based on a calculation of total area of 31 the Property as certified to Buyer and Seller by a Florida - licensed surveyor in accordance with Paragraph 8(c) of this 32* Contract. The following rights of way and other areas will be excluded from the calculation: 33* 34* 3. CASH /FINANCING: (Check as applicable) ® (a) Buyer will pay cash for the Property with no financing contingency. 35* ❑ (b) This Contract is contingent on Buyer qualifying and obtaining the commitment(s) or approval(s) specified below. (the 36* "Financing ") within days from Effective Date (if left blank then Closing Date or 30 days from Effective Date, whichever 37* occurs first) (the "Financing Period "). Buyer will apply for Financing within days from Effective Date (5 days if left 38 blank) and will timely provide any and all credit, employment, financial and other information required by the lender. If Buyer, 39 after using diligence and good faith, cannot obtain the Financing within the Financing Period, either party may cancel this 40 Contract and Buyer's deposit(s) will be returned after Escrow Agent receives proper authorization from all interested parties. 41* El (1) New Financing: Buyer will secure a commitment for new third party financing for $ or 42* % of the purchase price at the prevailing interest rate and loan costs based on Buyer's creditworthiness. Buyer 43 will keep Seller and Broker fully informed of the loan application status and progress and authorizes the lender or 44 mortgage broker to disclose all such information to Seller and Broker. 45* ❑ (2) Seller Financing: Buyer will execute a ❑ first ❑ second purchase money note and mortgage to Seller in the 46* amount of $ , bearing annual interest at % and payable as follows: 47* 48 The mortgage, note, and any security agreement will be in a form acceptable to Seller and will follow forms generally 49 accepted in the county where the Property is located; will provide for a late payment fee and acceleration at the mortgagee's 50 Buyer `_ and Seller ( acknowledge receipt of a copy of this page, which is Page 1 of 7 Pages. VAC -9 Rev. 4107 © 2007 Florida Association of REALTORS® All Rights Reserved _ Form generated by: True Forme www.TrueForms.com 800- 499 -9612 p® _ca.m 51 option if Buyer defaults; will give Buyer the right to prepay without penalty all or part of the principal at any time(s) with 52 interest only to date of payment; will be due on conveyance or sale; will provide for release of contiguous parcels, if 53 applicable; and will require Buyer to keep liability insurance on the Property, with Seller as additional named insured. 54 Buyer authorizes Seller to obtain credit, employment and other necessary information to determine creditworthiness for the 55 financing. Seller will, within 10 days from Effective Date, give Buyer written notice of whether or not Seller will make the loan. 56* ❑ (3) Mortgage Assumption: Buyer will take title subject to and assume and pay existing first mortgage to 57* 58* LN# in the approximate amount of $ currently payable at $ 59* per month including principal, interest, ❑ taxes and insurance and having a ❑ fixed ❑ other (describe) 60* 61 * interest rate of % which ❑ will ❑ will not escalate upon assumption. Any variance in the mortgage will be 62 adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow 63* account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds % or the 64* assumption /transfer fee exceeds $ , either party may elect to pay the excess, failing which this 65 agreement will terminate and Buyer's deposit(s) will be returned. 66 CLOSING 67* 4. CLOSING DATE; OCCUPANCY: This Contract will be closed and the deed and possession delivered on 20 days from 68* effective date ( "Closing Date "). Unless the Closing Date is specifically extended by the Buyer and Seller or by any other 69 provision in this Contract, the Closing Date shall prevail over all other time periods including, but not limited to, financing and 70 feasibility study periods. If on Closing Date insurance underwriting is suspended, Buyer may postpone closing up to 5 days after 71 the insurance suspension is lifted. If this transaction does not close for any.reason, Buyer will immediately return all Seller - 72 provided title evidence, surveys, association documents and other items. 73 5. CLOSING PROCEDURE; COSTS: Closing will take place in the county where the Property is located and may be conducted 74 by mail or electronic means. If title insurance insures Buyer for title defects arising between the title binder effective date and 75 recording of Buyer's deed, closing agent will disburse at closing the net sale proceeds to Seller (in local cashier's checks if 76 Seller requests in writing at least 5 days prior to closing) and brokerage fees to Broker as per Paragraph 17. In addition to other 77 expenses provided in this Contract, Seller and Buyer will pay the costs indicated below. 78 (a) Seller Costs: 79 Taxes on the deed 80 Recording fees for documents needed to cure title 81 Title evidence (if applicable under Paragraph 8) 82* Other: 83 (b) Buyer Costs: 84 Taxes and recording fees on notes and mortgages 85 Recording fees on the deed and financing statements 86 Loan expenses 87 Lender's title policy at the simultaneous issue rate 88 Inspections 89 Survey and sketch 90 Insurance 91* Other: 92 (c) Title Evidence and Insurance: Check (1) or (2): 93* ® (1) The title evidence will be a Paragraph 8(a)(1) owner's title insurance commitment. ® Seller will select the title 94* agent and will pay for the owner's title policy, search, examination and related charges or ❑ Buyer will select the title 95* agent and pay for the owner's title policy, search, examination and related charges or ❑ Buyer will select the title agent 96* and Seller will pay for the owner's title policy, search, examination and related charges. 97* ❑ (2) Seller will provide an abstract as specified in Paragraph 8(a)(2) as title evidence. ❑ Seller ❑ Buyer will pay for the 98 owner's title policy and select the title agent. Seller will pay fees for title searches prior to closing, including tax search 99 and lien search fees, and Buyer will pay fees for title searches after closing (if any), title examination fees and closing fees. 100 (d) Prorations: The following items will be made current and prorated as of the day before Closing Date: real estate taxes, 101 interest, bonds, assessments, leases and other Property expenses and revenues. If taxes and assessments for the current 102 year cannot be determined, the previous year's rates will be used with adjustment for any exemptions. PROPERTY TAX 103 DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE 104 AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO 105 PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE 106 PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING 107 VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR FURTHER INFORMATION. 108 (e) Special Assessment by Public Body: Regarding special assessments imposed by a public body, Seller will pay (i) the 109 full amount of liens that are certified, confirmed and ratified before closing and (ii) the amount of the last estimate of the 110 Buyer and Seller (_) �) acknowledge receipt of a copy of this page, which is Page 2 of 7 Pages. VAC -9 Rev. 4107 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms" www.TrueForms.com 800 -499 -9612 111 assessment if an improvement is substantially completed as of Effective Date but has not resulted in a lien before closing, 112* and Buyer will pay all other amounts. If special assessments may be paid in installments ❑ Buyer ❑ Seller (if left blank, 113 Buyer) shall pay installments due after closing. If Seller is checked, Seller will pay the assessment in full prior to or at the 114 time of closing. Public body does not include a (Homeowner Association or Condominium Association. 115 (f) Tax Withholding: If Seller is a "foreign person" as defined by FIRPTA, Section 1445 of the Internal Revenue Code 116 requires Buyer to withhold 10% of the amount realized by the Seller on the transfer and remit the withheld amount to the 117 Internal Revenue Service (IRS) unless an exemption applies. The primary exemptions are (1) Seller ,provides Buyer with an 118 affidavit that Seller is not a "foreign person ", (2) Seller provides Buyer with a Withholding Certificate providing for reduced or 119 eliminated withholding, or (3) the gross sales price is $300,000 or less, Buyer is an individual who purchases the Property to 120 use as a residence, and Buyer or a member of Buyer's family has definite plans to reside at the Property for at least 50% of 121 the number of days the Property is in use during each of the first two 12 month periods after transfer. The IRS requires Buyer 122 and Seller to have a U.S. federal taxpayer identification number ("TIN"). Buyer and Seller agree to execute and deliver as 123 directed any instrument, affidavit or statement reasonably necessary to comply with FIRPTA requirements including applying 124 for a TIN within 3 days from Effective Date and delivering their respective TIN or Social Security numbers to the Closing Agent. 125 If Seller applies for a withholding certificate but the application is still pending as of closing, Buyer will place the 10% tax in 126 escrow at Seller's expense to be disbursed in accordance with the final determination of the IRS, provided Seller so requests 127 and gives Buyer notice of the pending application in accordance with Section 1445. If Buyer does not pay sufficient cash at 128 closing to meet the withholding requirement, Seller will deliver to Buyer at closing the additional cash necessary to satisfy 129 the requirement. Buyer will timely disburse the funds to the IRS and provide Seller with copies of the tax forms and receipts. 130 (g) 1031 Exchange: If either Seller or Buyer wishes to enter into a like -kind exchange (either simultaneously with closing or 131 after) under Section 1031 of the Internal Revenue Code ( "Exchange"), the other party will cooperate in all reasonable respects 132 to effectuate the Exchange including executing documents; provided, however, that the cooperating parry will incur no liability 133 or cost related to the Exchange and that the closing shall not be contingent upon, extended or delayed by the Exchange. 134 PROPERTY CONDITION 135 6. LAND USE: Seller will deliver the Property to Buyer at the time agreed in its present "as is" condition, with conditions 136 resulting from Buyer's Inspections and casualty damage, if any, excepted. Seller will maintain the landscaping and grounds in a 137 comparable condition and will not engage in or permit any activity that would materially alter the Property's condition without the 138 Buyer's prior written consent. 139 (a) Flood Zone: Buyer is advised to verify by survey, with the lender and with appropriate government agencies which flood 140 zone the Property is in, whether flood insurance is required and what restrictions apply to improving the Property and 141 rebuilding in the event of casualty. 142 (b) Government Regulation: Buyer is advised that changes in government regulations and levels of service which affect 143 Buyer's intended use of the Property will not be grounds for canceling this Contract if the Feasibility Study Period has 144 expired or if Buyer has checked choice (c)(2) below. 145 (c) Inspections: (check (1) or (2) below) 146 ❑ (1) Feasibility Study: Buyer will, at Buyer's expense and within days from Effective Date ( "Feasibility Study 147 Period "), determine whether the Property is suitable, in Buyer's sole and absolute discretion, for 148 use. During the Feasibility Study Period, Buyer may conduct a Phase 1 149 environmental assessment and any other tests, analyses, surveys and investigations ( "Inspections ") that Buyer deems 150 necessary to determine to Buyer's satisfaction the Property's engineering, architectural and environmental properties; 151 zoning and zoning restrictions; subdivision statutes; soil and grade; availability of access to public roads, water, and other 152 utilities; consistency with local, state and regional growth management plans; availability of permits, government approvals, 153 and licenses; and other Inspections that Buyer deems appropriate to determine the Property's suitability for the Buyer's 154 intended use. If the Property must be rezoned, Buyer will obtain the rezoning from the appropriate government agencies. 155 Seller will sign all documents Buyer is required to file in connection with development or rezoning approvals. 156 Seller gives Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Feasibility 157 Study Period for the purpose of conducting Inspections; provided, however, that Buyer, its agents, contractors and 158 assigns enter the Property and conduct !Inspections at their own risk. Buyer will indemnify and hold Seller harmless from 159 losses, damages, costs, claims and expenses of any nature, including attorneys' fees, expenses and liability incurred in 160 application for rezoning or related proceedings, and from liability to any person, arising from the conduct of any and all 161 Inspections or any work authorized by Buyer. Buyer will not engage in any activity that could result in a construction lien 162 being filed against the Property without Seller's prior written consent. If this transaction does not close, Buyer will, at 163 Buyer's expense, (1) repair all damages to the Property resulting from the Inspections and return the Property to the 164 condition it was in prior to conduct of the Inspections, and (2) release to Seller all reports and other work generated as a 165 result of the Inspections. 166 Buyer will deliver written notice to Seller prior to the expiration of the Feasibility Study Period of Buyer's determination of 167 whether or not the Property is acceptable. Buyer's failure to comply with this notice requirement will constitute 168 acceptance of the Property as suitable for Buyer's intended use in its "as 'is" condition. If the Property is unacceptable to 169 Buyer and written notice of this fact is timely delivered to Seller, this Contract will be deemed terminated as of the day 170 after the Feasibility Study period ends and Buyer's deposit(s) will be returned after Escrow Agent receives proper 171 authorization from all interested parties. 172 ® (2) No Feasibility Study: Buyer is satisfied that the Property is suitable for Buyer's purposes, including being 173 satisfied that either public sewerage and water are available to the Property or the Property will be approved for the 174 Buyer ( ) and Seller ( acknowledge receipt of a copy of this page, which is Page 3 of 7 Pages. VAC -9 Rev. 4107 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms' www.TrueForms.com 800 -499 -9612 175 installation of a well and /or private sewerage disposal system and that existing zoning and other pertinent regulations and 176 restrictions, such as subdivision or deed restrictions, concurrency, growth management and environmental conditions, 177 are acceptable to Buyer. This Contract is not contingent on Buyer conducting any further investigations. 178 (d) Subdivided Lands: If this Contract is for the purchase of subdivided lands, defined by Florida Law as "(a) Any 179 contiguous land which is divided or is proposed to be divided for the purpose of disposition into 50 or more lots, parcels, 180 units, or interests; or (b) Any land, whether contiguous or not, which is divided or proposed to be divided into 50 or more lots, 181 parcels, units, or interests which are offered as a part of a common promotional plan. ", Buyer may cancel this Contract for 182 any reason whatsoever for a period of 7 business days from the date on which Buyer executes this Contract. If Buyer elects 183 to cancel within the period provided, all funds or other property paid by Buyer will be refunded without penalty or obligation 184 within 20 days of the receipt of the notice of cancellation by the developer. 185 7. RISK OF LOSS; EMINENT DOMAIN: If any portion of the Property is materially damaged by casualty before closing, or 186 Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain proceedings, 187 or if an eminent domain proceeding is initiated, Seller will promptly inform Buyer. Either party may cancel this Contract by 188 written notice to the other within 10 days from Buyer's receipt of Seller's notification, failing which Buyer will close in 189 accordance with this Contract and receive all payments made by the government authority or insurance company, if any. 190 TITLE 191. 8. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal representative or 192 guardian deed as appropriate to Seller's status. 193 (a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller in 194 accordance with current title standards adopted by the Florida Bar, subject only to the following title exceptions, none of 195 which prevent Buyer's intended use of the Property as residential use : covenants, easements 196 and restrictions of record; matters of plat; existing zoning and government regulations; oil, gas and mineral rights of record if 197 there is no right of entry; current taxes; mortgages that Buyer will assume; and encumbrances that Seller will discharge at or 198 before closing. Seller will deliver to Buyer Seller's choice of one of the following types of title evidence, which must be 199 generally accepted in the county where the Property is located (specify in Paragraph 5(c) the selected type). Seller will use 200 option (1) in Palm Beach County and option (2) in Miami -Dade County. 201 (1) A title insurance commitment issued by a Florida - licensed title insurer in the amount of the purchase price and 202 subject only to title exceptions set forth in this Contract and delivered no later than 2 days before Closing Date. 203 (2) An existing abstract of title from a reputable and existing abstract firm (if firm is not existing, then abstract must be 204 certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to the 205 Property recorded in the public records of the county where the Property is located and certified to Effective Date. 206 However if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed 207 insurer as a base for reissuance of coverage. Seller will pay for copies of all policy exceptions and an update in a format 208 acceptable to Buyer's closing agent from the policy effective date and certified to Buyer or Buyer's closing agent, 209 together with copies of all documents recited in the prior policy and in the update. If a prior policy is not available to Seller 210 then (1) above will be the title evidence. Title evidence will be delivered no later than 10 days before Closing Date. 211 (b) Title Examination: Buyer will examine the title evidence and deliver written notice to Seller, within 5 days from receipt of 212 title evidence but no later than closing, of any defects that make the title unmarketable. Seller will have 30 days from receipt 213 of Buyer's notice of defects ( "Curative Period ") to cure the defects at Seller's expense. If Seller cures the defects within the 214 Curative Period, Seller will deliver written notice to Buyer and the parties will close the transaction on Closing Date or within 215 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the defects within the 216 Curative Period, Seller will deliver written notice to Buyer and Buyer will, within 10 days from receipt of Seller's notice, 217 either cancel this Contract or accept title with existing defects and close the transaction. 218 (c) Survey: Buyer may, prior to Closing Date and at Buyer's expense, have the Property surveyed and deliver written notice 219 to Seller, within 5 days from receipt of survey but no later than 5 days prior to closing, of any encroachments on the 220 Property, encroachments by the Property's improvements on other lands or deed restriction or zoning violations. Any such 221 encroachment or violation will be treated in the same manner as a title defect and Buyer's and Seller's obligations will be 222 determined in accordance with subparagraph (b) above. 223 (d) Coastal Construction Control Line: If any part of the Property lies seaward of the coastal construction control line as 224 defined in Section 161.053 of the Florida Statutes, Seller shall provide Buyer with an affidavit or survey as required by law 225 delineating the line's location on the Property, unless Buyer waives this requirement in writing. The Property being 226 purchased may be subject to coastal erosion and to federal, state, or local regulations that govern coastal property, including 227 delineation of the coastal construction control fine, rigid coastal protection structures, beach nourishment, and the protection 228 of marine turtles. Additional information can be obtained from the Florida Department of Environmental Protection, including 229 whether there are significant erosion conditions associated with the shoreline of the Property being purchased. 230* El Buyer waives the right to receive a CCCL affidavit or survey. 231 MISCELLANEOUS 232 9. EFFECTIVE DATE; TIME; FORCE MAJEURE: 233 (a) Effective Date: The "Effective Date" of this Contract is the date on which the last of the parties initials or signs and 234 delivers final offer or counteroffer. Time is of the essence for all provisions of this Contract. 235 (b) Time: All time periods expressed as days will be computed in business days (a "business day" is every calendar day 236 except Saturday, Sunday and national legal holidays). If any deadline falls on a Saturday, Sunday or national legal 237 Buyer ( ) and Seller ( C_) acknowledge receipt of a copy of this page, which is Page 4 of 7 Pages. VAC -9 Rev. 4/07 © 2007 Flonda Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800499 -9612 238 holiday, performance will be due the next business day. All time periods will end at 5:00 p.m. local time (meaning in the 239 county where the Property is located) of the appropriate day. 240 (c) Force Majeure: Buyer or Seller shall not be required to perform any obligation under this Contract or be liable 241 to each other for damages so long as the performance or non- performance of the obligation is delayed, caused or 242 prevented by an act of God or force majeure. An "act of God" or "force majeure" is defined as hurricanes, earthquakes, 243 floods, fire, unusual transportation delays, wars, insurrections and any other cause not reasonably within the control of 244 the Buyer or Seller and which by the exercise of due diligence the non - performing party is unable in whole or in part 245 to prevent or overcome. All time periods, lincluding Closing Date, will be extended (not to exceed 30 days) for the period that 246 the force majeure or act of God is in place. In the event that such "act of God" or "force majeure" event continues beyond 247 the 30 days in this sub - paragraph, either party may cancel the Contract by delivering written notice to the other and Buyer's 248 deposit shall be refunded. 249 10. NOTICES: All notices shall be in writing and will be delivered to the parties and Broker by mail, personal delivery or 250 electronic media. Buyer's failure to deliver timely written notice to Seller, when such notice is required by this Contract, 251 regarding any contingencies will render that contingency null and void and the Contract will be construed as if.the 252 contingency did not exist. Any notice, document or item delivered to or received by an attorney or licensee (including a 253 transaction broker) representing a party will be as effective as if delivered to or by that party. 254 11. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage 255 agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract. 256 Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound. This 257 Contract, signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated 258 electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten 259 terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid 260 or unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller will use diligence and good faith in 261 performing all obligations under this Contract. This Contract will not be recorded in any public records. 262 12. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms 263 "Buyer," "Seller," and "Broker" may be singular or plural. This Contract is binding on the heirs, administrators, executors, 264 personal representatives and assigns (if permitted) of Buyer, Seller and Broker. 265 DEFAULT AND DISPUTE RESOLUTION 266 13. DEFAULT: (a) Seller Default: If for any reason other than failure of Seller to make Seller's title marketable after diligent 267 effort, Seller fails, refuses or neglects to perform this Contract, Buyer may choose to receive a return of Buyer's deposit without 268 waiving the right to seek damages or to seek specific performance as per Paragraph 14. Seller will also be liable to Broker for 269 the full amount of the brokerage fee. (b) Buyer Default: If Buyer fails to perform this Contract within the time specified, 270 including timely payment of all deposits, Seller may choose to retain and collect all deposits paid and agreed to be paid as 271 liquidated damages or to seek specific performance as per Paragraph 14; and Broker will, upon demand, receive 50% of all 272 deposits paid and agreed to be paid (to be split equally among Brokers) up to the full amount of the brokerage fee. 273 14. DISPUTE RESOLUTION: This Contract will be construed under Florida law. All controversies, claims, and other matters in 274 question arising out of or relating to this transaction or this Contract or its breach will be settled as follows: 275 (a) Disputes concerning entitlement to deposits made and agreed to be made: Buyer and Seller will have 30 days from 276 the date conflicting demands are made to attempt to resolve the dispute through mediation. If that fails, Escrow Agent will 277 submit the dispute, if so required by Florida law, to Escrow Agent's choice of arbitration, a Florida court or the Florida Real 278 Estate Commission. ( "FREC "). Buyer and Seller will be bound by any resulting award, judgment or order. A broker's 279 obligation under Chapter 475, FS and the FREC rules to timely notify the FREC of an escrow dispute and timely resolve the 280 escrow dispute through mediation, arbitration, interpleader, or an escrow disbursement order, if the broker so chooses, 281 applies only to brokers and does not apply to title companies, attorneys or other escrow companies. 282 (b) All other disputes: Buyer and Seller will have 30 days from the date a dispute arises between them to attempt to 283 resolve the matter through mediation, failing which the parties will resolve the dispute through neutral binding arbitration in 284 the county where the Property is located. The arbitrator may not alter the Contract terms or award any remedy not provided 285 for in this Contract. The award will be based on the greater weight of the evidence and will state findings of fact and the 286 contractual authority on which it is based. If the parties agree to use discovery, it will be in accordance with the Florida Rules 287 of Civil Procedure and the arbitrator will resolve all discovery- related disputes. Any disputes with a real estate licensee 288 named in Paragraph 17 will be submitted to arbitration only if the licensee's broker consents in writing to become a party to 289 the proceeding. This clause will survive closing. 290 (c) Mediation and Arbitration; Expenses: "Mediation" is a process in which parties attempt to resolve a dispute by 291 submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to impose a 292 settlement on the parties. Mediation will be in accordance with the rules of the American Arbitration Association ( "AAA ") or 293 other mediator agreed on by the parties. The parties will equally divide the mediation fee, if any. "Arbitration" is a process in 294 which the parties resolve a dispute by a hearing before a neutral person who decides the matter and whose decision is 295 binding on the parties. Arbitration will be in accordance with the rules of the AAA or other arbitrator agreed on by the parties. 296 Each party to any arbitration will pay its own fees, costs and expenses, including attorneys' fees, and will equally split the 297 arbitrators' fees and administrative fees of arbitration. In a civil action to enforce an arbitration award, the prevailing party to 298 the arbitration shall be entitled to recover from the nonprevailing party reasonable attorneys' fees, costs and expenses. 299 Buyer ( and Seller (___) ( acknowledge receipt of a copy of this page, which is Page 5 of 7 Pages. VAC -9 Rev_ 4107 ® 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 -499 -9512 300 ESCROW AGENT AND BROKER 301 15. ESCROW AGENT: Buyer and Seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow 302 and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this 303 Contract, including disbursing brokerage fees. The parties agree that Escrow Agent will not be liable to any person for 304 misdelivery of escrowed items to Buyer or Seller, unless the misdelivery is due to Escrow Agent's willful breach of this Contract 305 or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and 306 costs from the deposit and will recover reasonable attorneys' fees and costs to be paid from the escrowed funds or equivalent 307 and charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so 308 long as Escrow Agent consents to arbitrate. 309 16. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify all facts and representations 310 that are important to them and to consult an appropriate professional for legal advice (for example, interpreting contracts, 311 determining the effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, 312 the effect of property lying partially or totally seaward of the Coastal Construction Control Line, etc.) and for tax, property 313 condition, environmental and other specialized advice. Buyer acknowledges that Broker does not reside in the 314 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or 315 public records. Buyer agrees to rely solely on Seller, professional :inspectors and governmental agencies for 316 verification of the Property condition and facts that materially affect Property value. Buyer and Seller respectively will 317 pay all costs and expenses, including reasonable attorneys' fees at all levels, incurred by Broker and Broker's 318 officers, directors, agents and employees in connection with or arising from Buyer's or Seller's misstatement or failure 319 to perform contractual obligations. Buyer and Seller hold harmless and release Broker and Broker's officers, directors, 320 agents and employees from all liability for loss or damage based on (1) Buyer's or Seller's misstatement or failure to perform 321 contractual obligations; (2) Broker's performance, at Buyer's and /or Seller's request, of any task beyond the scope of services 322 regulated by Chapter 475, F.S., as amended, including Broker's referral, recommendation or retention of any vendor; (3) 323 products or services provided by any vendor; and (4) expenses incurred by any vendor. Buyer and Seller each assume full 324 responsibility for selecting and compensating their respective vendors. This paragraph will not relieve Broker of statutory 325 obligations. For purposes of this paragraph, Broker will be treated as a party to this Contract. This paragraph will survive closing. 326 17. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as "Broker." Instruction to Closing 327 Agent: Seller and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in 328 separate brokerage agreements with the parties and cooperative agreements between the brokers, except to the extent Broker 329 has retained such fees from the escrowed funds. In the absence of such brokerage agreements, closing agent will disburse 330 brokerage fees as indicated below. This paragraph will not be used to modify any MLS or other offer of compensation made by 331 Seller or listing broker to cooperating brokers. 332 * Oliver von Gundlach Coldwell Banker 333 * Selling Sales Associatekicense No. Selling Firm /Brokerage Fee: ($ or % of Purchase Price) 3% 334 * Oliver von Gundlach Coldwell Banker 335 * Listing Sales Associate/License No_ Listing FirmBrokerage Fee: ($ or % of Purchase Price) 3% 336 ADDITIONAL TERMS: 337 18. ADDITIONAL TERMS: 338 Pursuant to Section 475.42(1)(j), Fla. Stat., Seller and Buyer hereby grant Broker the right to place a lien on the Property to 339 ensure payment of services rendered. For purposes of this paragraph, Broker will be treated as a party to this Contract. 340 341 In addition to any brokerage fee noted in paragraph 17, Coldwell Banker Residential Real Estate LLC will.collect a $295 342 brokerage fee from its Seller(s) as agreed to in the Seller's 343 Listing Agreement. 344 345 Buyer and Seller agree that Coldwell Banker, if acting as escrow agent, will deposit the escrowed funds in a non- interest- 346 bearing account with a financial institution chosen by Coldwell Banker and that the financial institution, Coldwell Banker or any 347 of its related companies may obtain a direct or indirect benefit in connection with such deposit. 348 349 Buyer should not execute this contract until buyer has received and read the disclosure summary if required by section 720.401, 350 Florida Statutes which, if required, is incorporated into this contract. IF THE DISCLOSURE SUMMARY REQUIRED BY SECTION 351 720.401, FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO THE PROSPECTIVE PURCHASER BEFORE EXECUTING THIS 352 CONTRACT FOR SALE, THIS CONTRACT IS VOIDABLE BY BUYER BY DELIVERING TO SELLER OR SELLER'S AGENT OR 353 REPRESENTATIVE WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 3 DAYS AFTER RECEIPT OF THE 354 DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY PURPORTED WAIVER OF THIS 355 VOIDABILITY RIGHT HAS NO EFFECT. BUYER'S RIGHT TO VOID THIS CONTRACT SHALL TERMINATE AT CLOSING. 356. 357 358 Buyer and Seller (_) �) acknowledge receipt of a copy of this page, which is Page 6 of 7 Pages. VAC -9 Rev. 4/07 0 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms" www.TrueForms.com 800 -499 -9612 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 This is intended to be a legally binding contract. If not fully understood, seek the advice of an attorney prior to signing. 377 OFFER AND ACCEPTANCE 378 (Check if applicable: X Buyer received a written real property disclosure statement from Seller before making this Offer.) 379 Buyer offers to purchase the Property on the above terms and conditions. Unless this Contract is signed by Seller and a copy 380* delivered to Buyer no later than 5.00 ❑ a. m. X p.m. on 11/26/2008 , this offer will be 381 revoked and Buyer's deposit refunded subject to clearance of funds. 382 COUNTER OFFER/REJECTION 383* ❑ Seller counters Buyer's offer (to accept the counter offer, Buyer must sign or initial the counter offered terms and deliver a 384 copy of the acceptance to Seller. Unless otherwise stated, the time for acceptance of any counteroffers shall be 2 days from the 385* date the counter is delivered. El Seller rejects Buyer's offer. 386* Date: 11/12/2008 Buyer: 387* Print name: South Miami CRA Director 388* Date: 11/12/2008 Buyer: 389* Phone: 390* Fax: 391 * E -mail: 392* Date: 393* 394* Date: 395* Phone: 396* Fax: 397* E -mail: 398* Print name: South Miami CRA Attorney Address: Seller: Print name: Seller Print name: Address: Effective Date: (The date on which the last party signed or initialed acceptance of the final offer.) 399 Buyer ( and Seller ( t_) acknowledge receipt of a copy of this page, which is Page 7 of 7 Pages. The Florida Association of REALTORS and local Board/Association of REALTORS make no representation as to the legal validity or adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identity the user as a REALTOR. REALTOR is a registered collective membership mark that may be used only by real estate licensees who are members of the National Association of REALTORS and who subscribe to its Code of Ethics. The copyright laws of the United States (17 U.S. Code) forbid the unauthorized reproduction of blank forms by any means including facsimile or computerized forms. VAC -9 Rev. 4/07 0 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms' www.TrueForms.com 800 - 499 -9612 Lott & Levine EXHIBIT C A.. ASSOCIATION OF _ 0 9155 South Dadeland Blvd., Suite 1014 Miami, Florida 33156 Tel (305)670 -0700, Fax (305)670 -0701 Addendum No. -I to the Contract dated between RUTH WILLIAMS,_ FREDERICK DAVID KENNEDY LAWRENCE DAVID KENNEDY JR et al.. (Seller) and SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (Buyer) concerning the property described as: SEE ATTACHED EXHIBIT "A" (the "Contract "). Buyer and Seller make the following terms and conditions part of the Contract: The date for closing of the transaction is extended to on or before 20 days following Sellers' compliance with the title requirements set forth in the attached Fidelity National Title Insurance Commitment No.WE08- 111930. Sellers shall use diligent efforts to comply with all requirements of the Title Commitment, at their expense. In the event _ that Sellers are unable to comply with such .title requirements within 90 days of the date hereof, then Buyer, at Buyer's sole option, may, but shall not be required to, extend the time period for Sellers to comply with all such title requirements. If Buyer, in Buyer's sole discretion, chooses not to extend the time for Sellers to comply with all title requirements, Buyer may cancel the Contract, whereupon all deposits shall immediately be returned to the Buyer. In the event that there is any conflict between this Addendum and the Contract, the terms of this Addendum shall prevail. South AHd Cr mnity RaWelopmt Agmy Date: Buyer: _ its DirectX Date: Se Uer : Ruth WUILam Date: Seller: Date: Seller- David y Jr. ACSP -2 Rev. 6/94 © 1994 Florida Association of REALTORS® All Rights Reserved. Licensed to Alta Star. User Reg# S- 23GACY3302022POJ -1021 Software and Added Formatting Copyright 2004 Alta Star Software, Inc. All Rights Reserved. (305) 279 -8898 ALTA ST!_R SOFTWANI EXHIBIT "A" The South 444 feet of the East '/2 of the Northwest 1/4 of the Northwest '/4 of the Southeast '/4, LESS the West 100 feet and LESS the South 80 feet of the North 296 feet, of the East 50 feet of the West 150 feet of the East %2 of the Northwest' /4 of the Northwest 1/4 of the Southeast 1/4, and LESS the following: BEGINNING 100 feet East of the Southwest corner of the East '/2 of the Northwest 1/4 of.the Northwest 1/4 of the Southeast 14; thence North 184 feet, East 127.59 feet, North 55 feet, East 105 feet, South 235 feet, and West 232.59 feet to the Point of Beginning; and LESS the East 137.10 feet of the North 93.1 feet of the South 327.96 feet of the Northwest 1/4 of the Northwest 1/4 of the Southeast' /4 , LESS the East 15 feet thereof, in Section 25, Township 54 South, Range 40 East, Miami -Dade County, Florida; and LESS that portion of the subject property described as Parcel 3 in that certain Warranty Deed to Metropolitan Dade County, recorded in O.R. Book 11189, Page 1950, of the Public Records of Miami -Dade County, Florida. The above legal description is subject to confirmation /modification upon receipt and review of a current survey prepared by a licensed Florida land surveyor. AL.TA COAfM[TMPNT (1966) FORM 26-083-66-A X1111 Fidelity National Title = Insurance Company Commitment No: WE08- 111930 Agent File No: South Miami A JA /JA Agent File No. South Miami A SCHEDULE A 1. Effective date: November 14, 2008 at 8:00 A.M. 2. Policy or Policies to be issued: (a) ALTA Owner's Policy (Rev. 10- 17 -92) with Florida Modifications Amount $452,000.00 Proposed Insured: City of South Miami (b) ALTA Loan Policy (Rev. 10- 17 -92) with Florida Modifications Amount $ Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: FEE SIMPLE 4. Title to the FEE SIMPLE estate or interest in said land is at the effective date hereof vested in: Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy, Jr., the heirs and /or devisees of Naomi Williamson, deceased, the heirs and/or devisees of Theresa Perry, deceased, and the heirs and/or devisees of Jesse Lee Williamson, deceased 5. The land referred to in this Commitment is described as follows: See Attached Exhibit "A" Countersigned: Century Title & Escrow Company 13350 SW 128 Street, Suite B Miami, FL 33186 -. Ells ALTA COMMITMENT (1966) FORM 26- 083.66 -A . = � Fidelity National Title Insurance Company Commitment No: WE08 -1 l 1930 Agent File No: South Miami A SCHEDULE B I (Requirements) The following are the requirements to be complied with: 1. Payment to, or for the account of, the sellers or mortgagors of the full consideration for the estate or interest to be insured. 2. Instruments) creating the estate or interest to be insured which must be approved, executed, and filed for record: a. Warranty Deeds to be executed by Ruth Williams, Frederick David Kennedy, Lawrence David Kennedy, Jr., the heirs and /or devisees of Naomi Williamson, deceased, the heirs and /or devisees of Theresa Perry, deceased, and the heirs and/or devisees of Jesse Lee Williamson, joined by their respective spouses, if married, or reciting that the grantors are single or that the property is not their homestead property, conveying the subject property to the City of South Miami. 3. Proper probate proceedings must be undertaken in the Circuit Court of the residence of decedent or situs of the subject property if decedent was a non - resident of Florida, regarding Theresa Perry, deceased. The Company reserves the right to make additional requirements and /or exceptions upon review. 4. Proper ancillary probate proceedings must be undertaken in the Circuit Court of Miami -Dade County, Florida, regarding Jesse Lee Williamson, deceased. The Company reserves the right to make additional requirements and/or exceptions upon review. 5. It appears that Naomi Williamson died in 1984, and her estate was probated at that time. Consequently, in connection with the 1984 probate of her estate, it will be necessary to record in the Miami -Dade County Public Records, copies of her Will, the Order Admitting Will to Probate, and Letters of Administration, as it is necessary to determine exactly who inherited or was devised Naomi Williamson's interest in the subject property upon her death, so that appropriate deeds can be obtained. The Company reserves the right to impose additional requirements and/or exceptions upon review. 6. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $310,50, recorded April 19, 2001, in O.R. Book 19613, Page 4100, of the Public Records of Miami - Dade County, Florida. 7. Satisfaction or release of Claim of Lien, in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 215, of the Public Records of Miami - Dade County, Florida. ALTA COMMITMENT (1966) FORM 26 -083-66-A _ = Fidelity National Title Insurance Company Commitment No: WE08- 111930 Agent File No: South Miami A 8. Satisfaction or release of Claim of Lien, in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 217, of the Public Records of Miami - Dade County, Florida. 9. Satisfaction or release of Claim of Lien in favor of the City of South Miami, Lienor, in the amount of $285.50, recorded October 17, 2001, in O.R. Book 19961, Page 219, of the Public Records of Miami - Dade County, Florida. 10. Payment of real property taxes and assessments for the year 2008. IL Provide proof by affidavit, referring to the insured land, that no judgments or liens have been filed against the parties named below, but that various matters of record have been filed against some other person or persons of similar name. Parties: Ruth Williams 12. A current survey of the subject property, in compliance with the minimum technical standards, prepared by a duly registered and licensed surveyor, certified to the insured and/or Fidelity National Title Insurance Company must be submitted for examination, after which further requirements and/or exceptions may be deemed necessary. 13. Submit proof that any outstanding municipal and /or county tax assessments, which are due, have been paid. 14. Submit proof of payment of City of South Miami service charges for water, sewer and /or waste, if any. END OF SCHEDULE B I ALTA COMMITMENT (1966) FORM 26-067.66 -A Fidelity National Title Insurance Company Commitment No: WE08- 111930 Agent File No: South Miami A SCHEDULE B II (Exceptions) Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the Proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2. All assessments and taxes for the year 2009 and all subsequent years, which are not yet due and payable. 3. Any lien or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown.by the public records. 4. Any encroachments, easements, measurements, variations in area or content, party walls or other facts which a correct survey of the premises would show. 5. Rights or claims of parties in possession not shown by the public records. 6. Roads, ways, streams or easements, if any, not shown by the public records, riparian rights and the title to any filled -in lands. 7. Any rights or interests as indicated by that certain City of South Miami Ordinance No. 12 -97 -1633, relating to community redevelopment, recorded in O.R. Book 19796, Page 4490, of the Public Records of Miami -Dade County, Florida. 2008 Tax Year Parcel /Folio No.: 09- 4025-000 -0850 2008 Tax Year Gross Tax Amount: $17,785.71 Exemptions: Type: None Status of 2008 Tax Year Payment: Unpaid Assessed Value: $812,582.00 Amount: N/A NOTE: The Company reserves the right to make further requirements and /or exceptions upon its review of the proposed documents creating the estate or interest to be insured or otherwise ascertaining details of the transaction. ALTA COMMITMENT (1966) FORM 26- 093 -66•A Fidelity National Title �. Insurance Company Commitment No: WE08- 111930 Agent File No: South Miami A its If the proceeds t, the loan to above shall be deemed deleted as of the time such funds are tdisbursed to orrfor authorized agent, Item 1 the account of the borrower. Neither the company nor its agent shall, however, be under any duty to disburse any sum except upon a determination that.no such adverse intervening matters have appeared of record or occurred. Items 3, 4, 5 and 6 will be deleted provided: a satisfactory current survey is submitted, if applicable; it is determined the current year's taxes or special assessments have been paid; an affidavit of possession, in recordable form, is provided; it is determined there are no filled -in lands; and there is nothing of record which would give rise to mechanic's liens which would take priority over the insured interest (where the liens would otherwise take priority, submission of waivers is necessary). Additional exceptions will be made in the policy for any appropriate matters disclosed. END OF SCHEDULE B I1 ALTA COMMITMENT (1966) FORM 26- 083 -66 -A = � Fidelity National Title .. -. Insurance Company Commitment No: WE08- 111930 Agent Fite No: South Miami A EXHIBIT "A$' The South 444 feet of the East 1/7, of the Northwest' /4 of the Northwest' /4 of the Southeast '/4, LESS the West 100 feet and LESS the South 80 feet of the North 296 feet, of the East 50 feet of the West 150 feet of the East 1/z of the Northwest' /4 of the Northwest' /4 of the Southeast' /4, and LESS the following: BEGINNING 100 feet East of the Southwest corner of the East'/2 of the Northwest' /4 of the Northwest' /4 of the Southeast 1/4; thence North 184 feet, East 127.59 feet, North 55 feet, East 105 feet, South 235 feet, and West 232.59 feet to the Point of Beginning; and LESS the East 137.10 feet of the North 93.1 feet of the South 327.96 feet of the Northwest' /4 of the Northwest'/ of the Southeast 1/4 , LESS the East 15 feet thereof, in Section 25, Township 54 South, Range 40 East, Miami -Dade County, Florida; and LESS that portion of the subject property described as Parcel 3 in that certain Warranty Deed to Metropolitan Dade County, recorded in O.R. Book 11189, Page 1950, of the Public Records of Miami -Dade County, Florida. The above legal description is subject to confirmation /modification upon receipt and review of a current survey prepared by a licensed Florida land surveyor. AI TA COMMITMENT (1966) FORM 26- 083 -66•A aom%,�KJ4 3001 '?Nuking our Neighborhood a Great Place to Live, Work and Play" To: Honorable Ch ' n Date: February 9, 2009 SMCRA B rd Members From: Stephe David, ITEM No. SMCRA Direct AMENDMENT TO AGREEMENT TO PURCHASE 6457 SW 60TH AVENUE A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH WILLIAM MILLER AND GENEVA MILLER FOR THE PURCHASE OF 6457 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0060) AND AUTHORIZING PAYMENT BY THE SMCRA FOR CLOSING COSTS ASSOCIATED WITH THE PURCHASE OF THE PROPERTY IN AN AMOUNT NOT TO EXCEED $3,500; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 583 -61 -10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the December 9, 2008 Meeting, the Board authorized purchase of 6457 SW 60th Avenue for a total purchase price of $98,000 (See Exhibits A, B). The existing property is a 5,875 square foot, underutilized property which received an average appraised value of $182,667 and the Miami -Dade County property assessment value is $147,875. According to the approved purchase and sale agreement between Mr. William. Miller and the SMCRA shall be responsible previously owed taxes for 2007 and 2008. However, all outstanding property taxes have now been paid by the current owner. The section of the contract referring to 2007 and 2008 property taxes has therefore been stricken form the agreement (See Exhibit C). Also, during prior purchase negotiations with the Seller, the Seller indicated that he would be willing to accept a net amount for the sale of the property of $98,000. The Seller has now therefore requested that the Buyer ( SMCRA) and not the Seller be responsible for payment of the following estimated closing costs: • Evidence of Title ........... ...........................$250 • Title Policy /Title Commitment .....................$563 • Current Survey ............. ...........................$450 • Affidavit of Liens .......... ...........................$175 • Title Examination and Related Closing Fees......$500 • Documentary Stamps ...... ...........................$588 The total estimated amount of the above referenced closing costs is $2,526. It should also be noted that based on a preliminary assessment of the existing title, there appears to be no outstanding liens or encumbrances of any kind on the property. As a result, the SMCRA should be able to close and finalize purchase of the property shortly after approval of the aforementioned amendments. Approval of the attached resolution shall authorize the amendments attached as Exhibit C to the existing contract to purchase 6457 SW 601h Avenue including a funding disbursement in a total amount not to exceed $3,500 for the above listed and estimated expenditures. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the aforementioned amendments contained in Exhibit C and authorizing a funding disbursement in an amount not to exceed $3,500 for payment of the following estimated closing costs: • Evidence of Title ........... ...........................$250 • Title Policy /Title Commitment .....................$563 • Current Survey ............. ...........................$450 • Affidavit of Liens .......... ...........................$175 • Title Examination and Related Closing. Fees......$ 500 • Documentary Stamps ...... ...........................$588 Estimated Total .................. .........................$2,526 The above referenced expenditures shall be charged to Account No. 610 - 111.0 - 583 -61 -10 (Land Acquisition Account). Following funding disbursement, the remaining balance in Account No. 610 - 1110 - 583 -61 -10 shall be $382,775.11. Attachments: Previously Approved Purchase Resolution Amended Contract (Strikethrough and Underline Format) SD /MCGRUFF \PLANNING \CRA\Amendment to Agreement to Purchase 6457 SW 60" Avenue.doc I 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 21 p9 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 44 45 46 RESOLUTION NO. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING AN AMENDMENT TO THE APPROVED PURCHASE AND SALE AGREEMENT WITH WILLIAM MILLER AND GENEVA MILLER FOR THE PURCHASE OF 6457 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0060) AND AUTHORIZING PAYMENT BY THE SMCRA FOR CLOSING COSTS ASSOCIATED WITH THE PURCHASE OF THE PROPERTY IN AN AMOUNT NOT TO EXCEED $3,500; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 583 -61- 10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE WHEREAS, during the December 9, 2008 Meeting, the Board authorized purchase of 5,875 square foot vacant, underutilized property located at 6457 SW 60th Avenue for a total purchase price of $98,000; and WHEREAS, the average appraised value received for the property is $182,667 and the Miami -Dade County property assessment value is $147,875; and WHEREAS, according to the Board approved purchase and sale agreement between Mr. William Miller and the SMCRA, shall be responsible for payment of previously owed 2007 and 2008 property taxes; and WHEREAS, all outstanding property taxes have now been satisfied by the existing owner and all references to 2007 and 2008 property taxes have therefore been stricken in the amended agreement; and WHEREAS, also based on a prior negotiations with the Seller, the Seller requested a final net payment for sale of the property in the amount of $98,000 and therefore is requesting that the Buyer and not the Seller be responsible for the following estimated closing costs provided by SMCRA closing attorney: • Evidence of Title ........... ...........................$250 • Title Policy /Title Commitment .....................$563 • Current Survey ............. ...........................$450 • Affidavit of Liens .......... ...........................$175 • Title Examination and Related Closing Fees......$500 • Documentary Stamps ...... ...........................$588 Estimated Total .................... .......................$2,526; and Page 1 'of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 WHEREAS, the SMCRA desires to purchase the above referenced blighted property in order to facilitate additional redevelopment opportunities in the SMCRA area; and WHEREAS, the additional total closing costs required to be paid by the SMCRA to purchase 6457 SW 601h Avenue remains well below both the appraised and assessed values for the property. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Board authorizes incorporation of the amendments contained in Exhibit 1 to the previously approved agreement to purchase 6457 SW 60th Avenue (Folio No. 09- 4025- 010 -0060) for a total contract amount of $98,000 and authorizing payment of closing costs in an amount not to exceed $3,500 and charging the total amount to Account No. 610 - 1110 - 5583 -61 -10 (Land Acquisition Account). Following funding disbursement, the remaining balance in Account No. 610 - 1110 - 5583 -61 -10 shall be $$382,775.11. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of February, 2009. ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: APPROVED: Chairperson Horace Feliu Eve A. Boutsis, Office General Counsel South Miami Community Redevelopment Agency Page 2 of 2 Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Palmer: Board Member: Beckman Board Member: Newman Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison Square Land Acquisition Map (6457 SW 60th Avenue) South Miami Community Redevelopment Agency Area N fi- 10N 114, - I- N k, W-WE SMCRA S r, H1 .71 CRA B--� T --F-T- mom amoo © ©v ®a � �© mo ® © ©mm a® �� aoo ®o® a® A o� � ®0 llll� ° � o0 0 `� 0 0© ©o �>o ......................................................... a� I mil., xn L ................................................. N9==N1N - - ----- - - - - - - - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SMCRA Acquired and Owned Land Parcels Including Madison Square EXHIBIT B RESOLUTION NO. CRA` =56 -08 -368 A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING THE SMCRA DIRECTOR TO ENTER INTO A PURCHASE AND SALE AGREEMENT WITH . WILLIAM MILLER AND GENEVA MILLER TO PURCHASE RESIDENTIALLY ZONED PROPERTY LOCATED AT 6457 SW 60TH AVENUE (FOLIO NO. 09- 4025 -010 -0060) FOR A TOTAL PURCHASE PRICE OF $98,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 -1110- 583 -61 -10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, based on prior direction from the Board, four sets of property appraisals were obtained for the five properties under consideration for purchase by the SMCRA: • 6488 SW 60th Avenue • 6457 SW 60th Avenue • 6477 SW 60th Avenue • 6487 SW 60th Avenue • 6501 SW 60th Avenue WHEREAS, of the five properties identified, three were approved for purchase during the November 10, 2008 Meeting; and WHEREAS, during the November 10, 2008 Meeting, the Board also directed staff to negotiate with the two remaining property owners on the list and pending resolution of an acceptable purchase price, return to the Board with a draft purchase and sale contracts; and WHEREAS, following the November 10th Meeting, staff negotiated with the existing property owner of one of the remaining properties located at 6457 SW 60th Avenue WHEREAS, based on these subsequent negotiations, a purchase price of $98,000 was agreed upon; and WHEREAS, the current Miami -Dade County assessed value for 6457 SW 60th Avenue is $147,875 and the average obtained appraised value for the property is $182,667; and WHEREAS, based on current market conditions, staff believes the negotiated price of $98,000 represents fair market value for the property; and Page 1 of 2 Res. No. CRA 56 -08 -368 WHEREAS, the above referenced property is located within a depressed area of the SMCRA area and if purchased will provide one additional opportunity for meaningful redevelopment in the SMCRA area. WHEREAS, the SMCRA desires to improve existing conditions in the SMCRA through land acquisition and redevelopment of blighted properties. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The above whereas clauses are incorporated by reference into this resolution. Section 2. The SMCRA Board authorizes the SMCRA Director enter into contract, in substantial form as the agreement attached hereto as Exhibit F, with William and Geneva Williams to purchase property located at 6457 SW 60th Avenue (Folio No. 09- 4025- 010 -0060) for a total contract amount of $98,000 and charging the total amount to Account No. 610 -1110- 5583 -61 -10 (Land Acquisition Account). Following funding disbursement, the remaining balance in Account No. 610 -1110- 5583 -61 -10 shall be $386,275.11. Section 3. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this 8th day of December, 2008. ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: A. Bohtsis, Office General Counsel h Miami Community Redevelopment Agency Page 2 of 2 VED: j'>, HoracdVeliu Board Vote: 5 -0 Chair Feliu: yea. Vice Chair Beasley: yea Member Palmer: absent Member Beckman: Yea Member R. Williams: yea Member L. Williams: Yea EXHIBIT C I REAL ESTATE PURCHASE AND SALE AGREEMENT 2 3 PARTIES: William Miller and Geneva44illff, as "Sellers ", and The South Miami 4 Community Redevelopment Agency, as "Buyer ", hereby agree that the Seller shall sell and 5 Buyer shall buy the following described Property pursuant to the terms and conditions herein 6 (including attachments): 7 8 1. DESCRIPTION: 9 10 See Exhibit 1 attached hereto. 11 12 2. PURCHASE PRICE: $98,000 13 14 a. Escrow Deposit: $3,000 15 16 b. Additional Escrow Deposit To Be Made To Escrow Agent : N/A 17 18 c. Assumption Of Existing Mortgage In Good Standing: N/A 19. 20 e. New Mortgage Financing With A Lender In The Amount Of. N/A 21 22 f. Purchase Money Mortgage And Note To Seller: N/A 23 24 g. Other: 25 26 h. Balance To Close By Cash Or Locally Drawn Cashier's Check Or Official Bank 27 Check, Subject To Adjustment Or Prorating: $95,000 28 29 30 TOTAL $95,000 31 32 a. All funds held in the trust account of Lott and Levine in the firm's interest 33 bearing trust account, with interest accruing to the benefit of Buyer and 34 either applied toward the purchase price at closing or returned to Buyer in 35 the event and for any reason the transaction does not close. 36 37 3. FINANCING: This contract is contingent upon Buyer obtaining approval of a 38 municipal tax exempt loan within 30 days after the Effective date for a Fixed loan in the 39 principal amount of $95,000,. at an initial interest rate not to exceed 6 percent, discount and 40 origination fees not to exceed one (1) percent of the principal amount, and for a term of 14 years. 41 Buyer will make application within 30 days after Effective Date and use reasonable diligence to 42 obtain Loan Approval and, thereafter, to satisfy terms and conditions of the Loan Approval and 43 close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a Loan Approval or 44 fails to waiver Buyer's rights under this subparagraph within the time for obtaining Loan 45 46 Page 1 of 11 Seller's Initials Buyer's Initials 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Approval or, after diligent, good faith effort, fails to meet the terms ad conditions of the Loan Approval by Closing, then either party thereafter, by written notice to the other, may cancel this Contract and Buyer shall be refunded the deposits. Buyer shall be provided the opportunity to obtain a certified appraisal of the property. 4. TITLE EVIDENCE: Within ten 10 days from the date of Contract, Seller Buyer shall, at its expense, deliver to &� Seller or his attorney, in accordance with Paragraph XI, a title insurance commitment with fee owner's title policy premium to be paid by Buyer at closing. 5. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this offer is not executed by both of the parties hereto on or before , the aforesaid deposit(s) shall be, at the option of the Buyer, returned to the Buyer and this offer shall thereafter be null and void. The date of Contract ( "Effective Date ") shall be the date when the last one of the Seller and Buyer has signed this offer. 6. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on , unless extended by other provisions of Contract, or by written agreement of the Parties. 7. RESTRICTIONS, EASEMENTS, LIMITATIONS: The Buyer shall take title subject only to: zoning, restrictions, prohibitions and other requirements imposed by the applicable governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record; taxes for year of closing and subsequent years. 8. OCCUPANCY: Seller shall deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein. If Property is intended to be rented or occupied beyond Closing, the fact and terms thereof, and the tenant(s) or occupants shall be disclosed pursuant to Standard F. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable for maintenance form that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy. 9. ASSIGNABILITY: Neither party may assign this Contract. 10. EFFECTIVE DATE: For purposes of this Agreement, Effective date shall mean the date upon which the last of either party executes this Agreement. 11. EVIDENCE OF TITLE: Within ten (10) days from the Effective Date hereof, Selle Buyer at Seller's Buyer's sole cost and expense, shall cause a title insurance company mutually acceptable to the Parties ( "Title Company ") to issue and deliver to Buyer an ALTA Form B title commitment ( "Title Commitment ") accompanied by one copy of all documents affecting the Property, and which constitute exceptions to the Title Commitment. The Title Commitment shall be issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's marketable title to the Real Property, subject only to the matters contained in Paragraph 43 and those discharged by Seller at or before Closing. Marketable title shall be determined Page 2 of 11 Seller's Initials Buyer's Initials 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 according to applicable Title Standards adopted by authority of the Florida Bar and in accordance with law. Buyer shall give Seller written notice on or before ten (10) days from the date of receipt of the Title Commitment, if the condition of title as set forth in such Title Commitment and survey is not satisfactory in Buyer's sole discretion. In the event that the . condition of title is not acceptable, Buyer shall state which exceptions to the Title Commitment are unacceptable. Seller shall, at its sole cost and expense promptly undertake and use its best efforts to eliminate or modify all unacceptable matters to the reasonable satisfaction of Buyer; provided however, Seller shall not be required to engage in any litigation to cure, any alleged defects. In the event Seller is unable with the exercise of due diligence to satisfy said objections within thirty (30) days after said notice, Buyer may, at its option: (i) extend the time period for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects and /or for Seller to satisfy said objections, (ii) accept title subject to the objections raised by Buyer, without an adjustment in the purchase price, in which event said objections shall be deemed to be waived for all purposes, or (iii) rescind this Agreement, whereupon the deposit described herein shall be returned to Buyer and this Agreement shall be of no further force and effect. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found to be unmarketable, use diligent effort to correct the defect(s) within the time provided. If Seller is unable to timely correct the defects, Buyer shall either waive the defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under this Contract. If Seller is to provide the Title Commitment and it is delivered to Buyer less than five (5) days prior to Closing, Buyer may extend Closing so that Buyer shall have up to five days from the date of receipt to examine same in accordance with this Standard. 12. CURRENT SURVEY: Within thirty (30) days from the Effective Date, selle Buyer, at 's Buyer's sole cost and expense, shall furnish a current boundary survey of the Property prepared and certified by a duly registered Land Surveyor. 13. WOOD DESTROYING ORGANISMS /TERMITES: Buyer, at Buyer's expense, may have the Property inspected by a Florida Certified Pest Control Operator ( "Operator ") at least 10 days prior to Closing to determine if there is any viable active Wood Destroying Organism infestation or visible damage from Wood Destroying Organism infestation, excluding fences. If either or both are found, Buyer may, within five (5) days from date of written notice thereof, have cost of treatment of active infestation estimated by the Operator and all damage inspected and estimated by an appropriately licensed contractor. Seller shall pay costs of treatment and repair all damage up to the amount provided under paragraph -0 -. If estimated costs exceed that amount, buyer shall have the option of canceling this Contract within 5 days after receipt of Contractor's repair estimate by giving written notice to Seller, or Buyer may elect to proceed with the transaction and receive a credit at Closing of the amount provided in paragraph 43 ( -0- amount to be paid). "Wood Destroying Organisms" shall be deemed to include all wood destroying organisms required to be reported under the Florida Pest Control Act, as amended. 14. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Property sufficient for the intended use as described in Paragraph VII hereof, the title to which is in accordance with Paragraph XI above, and title to the Real Property is insurable in accordance with Standard A without exception for lack of legal right of access. Page 3 of 11 Seller's Initials Buyer's Initials 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 15. LEASES: Seller shall, at least 20 days before Closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature and duration of the tenant's occupancy, rental rates, advanced rent and security deposits paid by tenant. If Seller is unable to obtain such letter from each tenant, the same information shall be furnished by Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contract tenant to confirm such information. If the terms of the leases differ materially from Seller's representations, Buyer may terminate this Contract by delivering written notice to Seller at least five (5) days prior to Closing. Seller shall, at Closing, deliver and assign all original leases to Buyer. 16. LIENS: Sellef Buyer shall, both as to the Property being sold hereunder and personally, furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improvements to the Property for ninety (90) days immediately preceding date of closing. If the Property has been improved within said time, Seller shall deliver releases or waivers of all mechanic's liens, executed by general contractors, subcontractors, suppliers, and material men, in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and material men and further reciting that, in fact, all bills for work to the Property which could serve as a basis for a mechanic's lien or construction lien or a claim for damages have been paid or will be paid at closing. 17. SPECIAL ASSESSMENT LIENS: Except as set forth in paragraph 2(b), certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by Seller. Pending liens as of Closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered certified, confirmed or ratified and Seller shall, at Closing be charged an amount equal to the last estimate or assessment for the improvement by the public body. 18. PLACE OF CLOSING: Closing shall be held in the county wherein the Property is located, at the office of the attorney or other closing agent designated by Buyer; provided, however, that if a portion of the purchase price is to be derived from an institutional mortgagee, the requirements of said mortgagee as to time of day, place and procedures for closing, and for disbursement of mortgage process, shall control, anything in this contract to the contrary notwithstanding. 19. TIME: Time is of the essence of this Contract. Any reference herein to time periods of less than six (6) days shall in the computation thereof, exclude Saturdays, Sundays and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day. 20. DOCUMENTS FOR CLOSING: Seller shall furnish deed, ele ' g state ei , fneehanie's lien affidavit, assi— leases, and any eeffeetive instnffaeats thM may—be r-equifed in eenneefien with pe,.f etin . the +; +io Buyer shall furnish mortgage, mortgage note, security agreement, and financing statement. Page 4 of 11 Seller's Initials Buyer's Initials 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 21. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by the Sel1e Buyer. Documentary stamps and intangible tax on the mortgage, mortgagee title insurance commitment with related fees, and recording of the mortgage to Seller, deed and financing statements shall be paid by Buyer. Unless otherwise provided by law or rider to this Contract, charges for the following related title services, namely title evidence, title examination, and closing fees (including preparation of closing statement) shall be paid by the party responsible for furnishing the title evidence as provided for in this contract. 0 103rfil ONAW a .. P2 ft him . .. • .i!esi�sress�� WAIMMMMAM 23. INSPECTION, REPAIR AND MAINTENANCE: Seller warrants that the ceiling, roof (including fascia and soffits) and exterior and interior walls, foundation, and dockage of the Property do not have any visible evidence of leaks, water damage or structural damage and that the septic tank, all appliances, mechanical items, heating, cooling, elevators, electrical, plumbing systems and machinery are in Working Condition. The foregoing warranty shall be limited to the .items specified unless otherwise provided in an addendum. Buyer may inspect, or at Buyer's expense, have a firm or individual specializing in inspection and holding an occupational license for such purpose (if required) or an appropriately licensed Florida contractor make inspections of, those items within 30 days after the Effective Date. Buyer shall, prior to Buyer's occupancy but not more than 30 days after the Effective Date, report in writing to Seller such items that do not meet the above standards as to defects. Unless Buyer timely reports such defects, buyer shall be deemed to have waived Seller's warranties as to defects not reported. If repairs or replacements are required to comply with this Standard, Seller shall cause them to be made and shall pay up to the amount provided in paragraph 2. Seller is not required to make repairs or replacements of a Cosmetic Condition unless caused by a defect Seller is responsible to repair or replace. If the cost for such repair or replacement exceeds the amount provided in paragraph 2, Buyer or Seller may elect to pay such excess, failing which either party may cancel this Contract. If Seller is unable to correct the defects prior to Closing, the cost thereof, shall be paid into escrow at Closing, Seller shall, upon reasonable notice, provide utilities service and access to the property for inspections, including a walk through prior to Closing, to confirm that all items of Personal Property are on the Real Property and, subject to the foregoing, that all required repairs and replacements have been made and that the property, including but not limited to lawn, shrubbery, and sprinklers, if ay has been maintained in the condition existing as of Effective Date, ordinary war and tear excepted. For purposes of this Contract: (1) "Working Condition" means operating in the manner in which the item was designed to operate; (2) "Cosmetic Condition" means aesthetic imperfections that do not affect the Working Condition of the item, including, but not limited to: missing or torn screens, fogged windows, tears, worn spots or discoloration of floor coverings, wallpaper or window treatments, nail holes, scratches, dents, scrapes, chips or caulking in ceilings, walls, flooring, fixtures or mirrors, and minor cracks in floors, tiles, windows, driveways, sidewalks and (3) cracked roof tiles, curling or worn shillings, Page 5 of 11 Seller's Initials Buyer's Initials I or limited roof life shall not be considered defects Seller must repair or replace, so long as there 2 is not evidence of actual leaks or leakage or structural damage, but missing tiles will be Seller's 3 responsibility to replace or repair. 4 24. RISK OF LOSS: If the property is damaged by fire, or other casualty prior to closing, 5 and the costs of restoring same does not exceed three percent (3 %) of the assessed valuation of 6 the property or improvements so damaged, cost of restoration shall bean obligation of the Seller 7 and closing shall proceed pursuant to the terms of Contract with costs therefore escrowed at 8 closing. In the event the cost of repair or restoration exceeds three percent (3 %) of the assessed 9 valuation of the improvements so damaged, Buyer shall have the option of either taking the 10 Property as is, together with either the said three percent (3 %) or any insurance proceeds payable 11 by virtue of such loss or damage, or of canceling the Contract and receiving return of deposit(s) 12 made hereunder. 13 25. CONDEMNATION: If prior to the Closing there shall occur the taking by 14 condemnation of all or such portion of the Property as would materially interfere with Buyer's 15 use and enjoyment thereof or the material modification or termination of the current access to or 16 from the Property or of sewer or other utility service, then, and in any such event, Buyer may 17 terminate this Agreement by written notice given to Seller within fifteen (15) business days after 18 Purchaser has received the notice of such taking, or at the Closing, whichever is earlier. If Buyer 19 does not elect to terminate this Agreement, then the Closing shall take place as herein provided 20 without abatement of the Purchase Price, and there shall be assigned to Buyer at the Closing all 21 of Seller's interest in any condemnation awards which may be payable to Seller on account of 22 any such condemnation and Buyer shall receive a credit at Closing in an amount equal to any 23 such condemnation awards paid to Seller prior to Closing. 24 26. MAINTENANCE: Notwithstanding the provisions of Paragraph 23, between 25 Effective Date and Closing Date, all personal property on the premises and real property, 26 including lawn, and shrubbery, shall be maintained by Seller in the condition they existed as of 27 Effective Date, ordinary wear and tear excepted, and Buyer or Buyer's designee will be permitted 28 access for inspection prior to closing in order to confirm compliance with this standard. 29' 30 27. PROCEEDS OF SALE AND CLOSING PROCEDURE: The deed shall be recorded 31 upon clearance of funds and evidence of title to show title in Buyer, without any encumbrances 32 or changes which would render Seller's title unmarketable from the date of the last evidence, and 33 the cash proceeds of sale shall be held in escrow by Seller's attorney or by such other escrow 34 agent as may be mutually agreed upon for a period of not longer than five (5) days from and after 35 closing date. If Seller's title is rendered unmarketable, Buyer shall within said five (5) day 36 period, notify Seller in writing of the defect and Seller shall have thirty (30) days from date of 37 receipt of such notification to cure said defect; provided however, Seller shall not be required to 38 engage in any litigation to cure any alleged defects. In the event Seller fails to timely cure said 39 defect, all monies paid hereunder shall, upon written demand therefore and within five (5) days 40 thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacate the 41 Property and re- convey same to the Seller by special warranty deed. In the event Buyer fails to 42 make timely demand for refund, he shall take title as is, waiving all rights against Seller as to 43 such intervening defect except as may be available to Buyer by virtue of warranties, if any, 44 contained in deed. 45 Page 6 of 11 Seller's Initials Buyer's Initials 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 28. ESCROW: Any escrow agent receiving funds is authorized and agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in accordance with terms and conditions of Contract. Failure of clearance of funds shall not excuse performance by the Buyer. 29. ATTORNEY FEES AND COSTS:. In connection with any litigation including appellate proceedings arising out of this Contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. 30. DEFAULT BY SELLER: In the event that Seller should fail to consummate the transaction contemplated herein for any reason, except Buyer's default; Escrow Agent shall return the earnest money deposit to Buyer within 3 days of default. 31. DEFAULT BY BUYER: In the event Buyer should fail to consummate the transaction contemplated herein for any reason, except default by Seller or the failure of Seller to satisfy any of the conditions to Buyer's obligations, as set forth herein, Escrow Agent shall not return the earnest money deposit to Buyer within 3 days of default. 32. MEMORANDUM OF CONTRACT RECORDABLE, PERSONS BOUND AND NOTICE: Upon the expiration of the inspection period described in paragraph 23, if Buyer has elected to proceed with purchase of the Property, the parties shall cause to be recorded, at Buyer's expense, in the public records of the county in which the Property is located, the executed Memorandum of Contract which is attached as exhibit 1 to this Contract. This Contract shall bind and inure to the benefit of the Parties hereto and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for either party shall be as effective as if given by or to said party. 33. CONVEYANCE: Seller shall convey title to the Property by statutory warranty deed subject only to the limitations contained in Paragraph VII above and those other conditions accepted by Buyer. 34. UTILITIES: Seller shall, at no expense to Seller, actively work with Buyer to assist Buyer in obtaining all municipal permits for electrical, water, sewage, storm drainage, and other utility services for development of the Property. 35. ENGINEERING PLANS AND STUDIES: Upon the execution hereof, Seller shall furnish to Buyer all engineering plans, drawings, surveys, artist's renderings and economic and financial studies which Seller has, if any, relating to the Property, and all such information may be used by Buyer in such manner as it desires; provided that in the event Buyer fails to purchase the Property for any reason, all such information shall be returned to Seller together with any information that Purchaser may have compiled with respect to the Property. 36. INSPECTION OF PROPERTY: Buyer shall have thirty (30) days from the Effective Date to make any and all inspections it deems necessary, including, but not limited to, inspections to determine the elevation, grade, and topography of the Property and to conduct engineering and soil boring tests as the Buyer deems necessary in order to determine the usability of the Property. Buyer may in its sole and absolute discretion, give notice of Page 7 of 11 Seller's Initials Buyer's Initials I termination of this Agreement at any time and for any reason prior to the expiration of the thirty 2 (30) day inspection period, and upon such termination, all deposits held in escrow shall be 3 returned to Buyer and this contract shall be null and void without liability to the Buyer. 4 5 37. PENDING LITIGATION: Seller warrants and represents that there are no legal 6 actions, suits or other legal or administrative proceedings, including cases, pending or threatened 7 or similar proceedings affecting the Property or any portion thereof, nor has Seller knowledge 8 that any such action is presently contemplated which might or does affect the conveyance 9 contemplated hereunder. 10 11 38. SURVIVAL OF REPRESENTATIONS AND WARRANTIES: The representations 12 and warranties set forth in this Contract shall be continuing and shall be true and correct on and 13 as of the closing date with the same force and effect as if made at that time, and all of such 14 representations and warranties shall survive the closing and shall not be affected by any 15 investigation, verification or approval by any party hereto or by anyone on behalf of any party 16 hereto. 17 18 39. ACQUIRING APPROVALS: The obligation of Buyer to close is conditioned upon 19 Buyer's having acquired all the necessary approvals and permits to use the Property for village 20 hall /office space. 21 22 40. OTHER AGREEMENTS: No prior or present agreements or representations shall be 23 binding upon any of the Parties hereto unless incorporated in this Contract. No modification or 24 change in this Contract shall be valid or binding upon the Parties unless in writing, executed by 25 the Parties to be bound thereby. 26 27 41. DISCLOSURES: 28 29 a) CHECK HERE if the Property is subject to a special assessment lien 30 imposed by a public body payable in installment which continue beyond 31 closing and, if so, specify who shall pay amounts due after closing 32 _Seller _Buyer Other. 33 34 b) Radon is a naturally occurring radioactive gas that when 35 accumulated in a building in sufficient quantities may present health risks 36 to persons who are exposed to it over time. Levels or radon that exceed 37 federal and state guidelines have been found in buildings in Florida. 38 39 Additional information regarding radon may be obtained from your County Public 40 Health unit. 41 42 c) Buyer acknowledges receipt of the Florida Building Energy - 43 Efficiency Rating System Brochure. 44 45 d) If the real property includes pre -1978 residential housing then a lead - 46 based permit rider is mandatory. 47 Page 8ofII Seller's Initials Buyer's Initials 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 e) If Seller is a "foreign person" as defined by Foreign Investment in Real Property Tax Act, the parties shall comply with that Act. 42. RIDERS, ADDENDA; SPECIAL CLAUSES: Check those riders which are applicable and are attached to this contract Condominium VA/FHA Homeowners Assn. Lead -Based Paint Coastal Construction Control Line Insulation _X_ "As Is" Other Comprehensive Rider Provisions Special Clauses: 43. STANDARDS FOR REAL ESTATE TRANSACTIONS ( "Standards "): Buyer and Seller acknowledge receipt of a copy of Standards A through W of the Florida Association of Realtors and Florida Bar form and same are incorporated as part of this Contract. THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVISE OF AN ATTORNEY PRIOR TO SIGNING. THE BASIC CONTENT OF THIS. DOCUMENT HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR. Approval does not constitute an opinion that any of the terms and conditions in the Contract should be accepted by the parties in a particular section. Terms and conditions should be negotiated based upon the respective interests, objectives and bargaining positions of all interested persons. Page 9 of 11 Seller's Initials Buyer's Initials 1 2 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 IN WITNESS WHEREOF, the parties hereto have caused this Real Estate Purchase and Sale Agreement to be executed by their duly authorized officials. BUYER: The South Miami Community Redevelopment Agency By: Print Name: Title: Address: 6130 Sunset Drive, South Miami, Florida 33143 FOR NOTARY STATE OF FLORIDA ) COUNTY OF MIAMI -DADE ) On the day of , year of , before me, a Notary Public in and for the above state and county, personally appeared , known to me or proved to be the person(s) named in and who executed the foregoing instrument, and being first duly sworn, such person(s) acknowledged that he or she /they executed said instrument for the purposes therein contained as his or her /their free and voluntary act and deed. NOTARY PUBLIC My Commission Expires: Page 10 of 11 Seller's Initials Buyer's Initials 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 SELLERS: By: William Miller Address: By: Geneva Miller Address: FOR NOTARY STATE OF FLORIDA ) COUNTY OF MIAMI -DADE ) On the day of , year of , before me, a Notary Public in and for the above state and county, personally appeared and , known to me or proved to be the person(s) named in and who executed the foregoing instrument, and being first duly sworn, such person(s) acknowledged that he or she /they executed said instrument for the purposes therein contained as his or her /their free and voluntary act and deed. NOTARY PUBLIC My Commission Expires: Page 11 of 11 Seller's Initials Buyer's Initials 4720M%olliffik loot Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Ch and Date: February 9, 2009 SMCRA B oard Members From: Stephen avid, ITEM No. SMC Directo STREET LIGHTING IMPROVEMENTS - SW 66TH STREET A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO INFRASTRUCTURE IMPROVEMENTS; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE SMCRA BUDGETED LINE ITEM FUNDING IN THE TOTAL AMOUNT OF $47,813 TO FLORIDA POWER & LIGHT TO INSTALL ENHANCED STREET LIGHTING ALONG SW 66T" STREET AS PART OF A CONTINUED INFRASTRUCTURE IMPROVEMENT INITIATIVE IN THE SMCRA AREA; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 513 -63 -40 (INFRASTRUCTURE /STREET LIGHTING IMPROVEMENTS); AND PROVIDING AN EFFECTIVE DATE BACKGROUND As part of the 2008 -2009 Budget Workshop and subsequent $3,147,600 budget approval process, the SMCRA Board allocated a total of $130,000 for roadway intersection improvements along SW 59th Place and for the installation of much needed street lighting in designated areas in the SMCRA District. Staff recently received a cost proposal from Florida Power & Light to install enhanced street lighting along SW 66th Street between SW 58th Avenue and SW 59th Place. SW 66th Street is one of the major arterial roadways in the SMCRA and one of the most highly traversed (See Exhibit A). The FPL cost proposal includes installation of fourteen (14) decorative lighting poles and fourteen (14) 175W metal halide lamps with acorn fixtures (See Exhibit B). Installation of the aforementioned lighting improvements will greatly enhance safety, walkability and overall aesthetics in this prominent area of the SMCRA. Approval of the attached resolution shall authorize the SMCRA Director to disburse funding in an amount not to exceed $47,813 for the installation of fourteen decorative lighting poles and metal halide lamps along SW 66th Street between SW 58th Avenue and SW 59th Place as pert the proposal attached as Exhibit A. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director to disburse funding in an amount not to exceed $47,813 for the installation of fourteen decorative lighting Poles and metal halide lamps along SW 66th Street between SW 58th Avenue and SW 59t Place and charging the total amount to Account No. 610- 1110 - 513 -63- 40 (Infrastructure /Street Lighting Improvements). Following funding disbursement, the remaining balance in Account No. 610 -1110- 513 -63 -40 shall be $82,187. Attachments: Lighting Installation Location Map FPL Lighting Installation Cost Proposal SD /MCGRUFF \PLANNING \CRA \Street Lighting Improvements - SW 66"' Street.doc 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 RESOLUTION NO. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO INFRASTRUCTURE IMPROVEMENTS; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE SMCRA BUDGETED LINE ITEM FUNDING IN THE TOTAL AMOUNT OF $47,813 TO FLORIDA POWER & LIGHT TO INSTALL ENHANCED STREET LIGHTING ALONG SW 66 TI STREET AS PART OF A CONTINUED INFRASTRUCTURE IMPROVEMENT INITIATIVE IN THE SMCRA AREA; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110- 513 -63 -40 (INFRASTRUCTURE /STREET LIGHTING IMPROVEMENTS); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, as part of the 2008 -2009 Budget Workshop and subsequent $3,147,600 budget approval process, the SMCRA Board allocated a total of $130,000 for roadway intersection improvements along SW 59th Place and for the installation of much needed street lighting in designated areas in the SMCRA District; and WHEREAS, staff recently received a cost proposal from Florida Power & Light to install enhanced street lighting along SW 66th Street between SW 58th Avenue and SW 59th Place which is located along one of the major roadway arterials in the SMCRA District which will greatly enhance safety, walkability and overall :aesthetics in this prominent area of the SMCRA; and WHEREAS, the SMCRA desires to improve the existing physical conditions and quality of life in the SMCRA area and in an effort to do so have allocated funding in this year's budget for infrastructure and street lighting improvements; and WHEREAS, the aforementioned street lighting improvements shall greatly improve a previously designated blighted area and the conditions for all SMCRA residents and the City of South Miami as a whole. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Director is authorized to disburse funding in the total amount not to exceed $47,813 to Florida Power & Light for the installation of fourteen (14) decorative light poles, fourteen (14) metal halide lamps and fourteen (14) acorn fixtures along SW 66th Street between SW 58 Street and SW 59th Place as per the FPL cost proposal attached as Exhibit 1 and charging the total amount to Page 1 of 2 1 2 3 4 5 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 38 Account No. 610- 1110 - 513 -63 -40 (Infrastructure /Street Lighting Improvements). Following funding disbursement, the remaining balance in Account No. 610 -1110- 513-63-40 shall be $82,187. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of February, 2009. ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: APPROVED: Chairperson Horace Feliu Eve A. Boutsis, Office General Counsel South Miami Community Redevelopment Agency Page 2 of 2 Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member L. Williams: LA r7n N' %'hill 1-11116161" 601664*1M466 a EXHIBIT A Park SW 66th STREET BETWEEN SW 58TH AVE & SW 59TH PL 0 FPL May 15, 2008 J Non - Binding Cost Calculation Florida Power & Light 9250 West Hagler Street, Miami, FL. 33174 VIA E -MAIL -J In response to your e-mail request dated May 15, 2008, the NON BINDING cost calculation for the pole and light fixture combination selected are as follows: NON -BINDING COST and ENGINEERING DEPOSIT • FPL Install: 14 Acrylic Acorn Mures with 175W Metal Halide lamps on 14-13' Victorian style black concrete poles. Non-Binding cost = $47,813.001 Non - refundable engineering deposit = $956.00. • City Contractor will perform excavation, install the .FPL - provided 2'.' PVC and pull boxes. The cost calculation includes basic project information, and does not account for all aspects of the project, e.g., restoration, monthly maintenance fees, energy costs and removal of existing street light facilities. In order to proceed with a detailed cost estimate, the above mentioned non- refundable engineering deposit will be required. Attached is the corresponding deposit invoice. If you have any questions, please contact me at (305) 552 -3914. Sincerer;' u erez Major Customer Manager Cc: Mark Karris DSL MINA So Mt=1 SW 66 A Ph LAoc FPL Decorative Streetlighting Non- Binding Cost Calculation and Deposit Invoice May 15, 2008 Protect Information SW 66 Street Improvements Phase t Re: DSL Invoice ---- -> SW 66 St from SW 58 Ave to SW 59 PL City of South Miami Miami / Dade Total ftlirj Cost Lump Sum: $47,813 %at•iKonthti Cvsr rFac►�r: iNairie,iaace +:E »erovl •Franchise fees aril taxes not included "Lump Sum (M +E). $298 '10 Year Finance (Mo.ChargexF +M +E) $867 `20 Year Finance (Mo. ChargexF +M +E) $697 Product ►nfori»a!On Fixture Information ( # and type) 14 Acrylic Acorn 175W MH Pole Information (# and type) 14 13' Victorian Concrete - Black . • .. � `,`.Cvisfructlon iifaiination ., ,. _ _ .. .. ' .. Will Cust Install conduit? Yes Linear Trench Footage: 1,900 Linear Bore Footage: 0 Will Cust. Bore? No This preliminary cost estimate for approximately $47.812.60 includes basic project information, and does not account for all aspects of construction (e.g., restoration). In order to proceed With a more detailed cost estimate, a non - refundable deposit for a detailed estimate in the amount of 9S 56.00 will be required. Upon completion of the project, this deposit amount will be credited to your decorative streetlight account. This invoice becomes null and void after 180 days from invoice date. Please remit your payment to: Florida Power & Light Company 9250 W. Flagler Street Miami, Fl. 33174 Lou Perez If you have any questions about this estimate, or need additional information on FPL's Decorative Street Lighting Program, please contact t (305) 552 -3914 Sincerely, erez Major Customer Manager 120M%..KA 2001 Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and SMCRA B From: Stephen SMCRA Date: February 9, 2009 ITEM No. 0 SMCRA FA(ADE GRANT PROGRAM GUIDELINES A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO COMMERCIAL BUSINESS REHABILITATION; AUTHORIZING ADOPTION BY THE SMCRA BOARD OF SPECIFIC GRANT CRITERIA AND ELIGIBILITY REQUIREMENTS FOR THE SMCRA FACADE GRANT PROGRAM; AND PROVIDING AN EFFECTIVE DATE BACKGROUND As part of the 2008 -2009 Budget Workshop and subsequent adoption of the $3,147,600 FY 2008 -2009 SMCRA Budget, the SMCRA Board allocated specific line item funding in the total amount of $10,000 for commercial business improvements for the renovation of fagades on existing commercial structures in the SMCRA area. During this year's budget workshop, the Board discussed possibly utilizing this year's funding to implement a "pilot" improvement project in the SMCRA. Staff has recently been approached by at least two existing businesses in the SMCRA with interest in renovating their existing commercial buildings. As has been similarly done with all other SMCRA programs, specific program guidelines have been developed for eligibility and monitoring compliance. Included below are lists of proposed criteria and eligibility requirements for the SMCRA Facade Grant Program: PROGRAM ELIGIBILITY REQUIREMENTS 1. A completed fagade grant application must be provided to the SMCRA; 2. Proposed building improvements must be located within the boundaries of the SMCRA District; 3. Businesses must be a permitted use (per zoning); 4. Proposed building improvements may not be undertaken on properties listed for sale; 5. Proposed building improvements must be initiated within ninety (90) days following SMCRA Board approval; 6. Proof of ownership of the proposed improvement property must be provided or written permission from the existing building owner must be received by the SMCRA; 7. A location map of the proposed improvement property must be provided to the. SMCRA; 8. Proof of fire and casualty insurance must be provided to the SMCRA; 9. Two detailed written estimates must be provided to the SMCRA from contractors and vendors for the services /work to be completed; ELIGIBLE FACADE IMPROVEMENTS 1. Building fagade reconstruction; 2. Exterior building painting; 3. Building fagade door /window repair or replacement; 4. Building fagade exterior wall repair; 5. Building fagade awning installation; 6. Building fagade sign installation 7. Facade area landscaping; 8. Facade area parking repavement or brick paver installation; 9. Facade area exterior lighting installation; REVIEW CRITERIA 1. Proposed improvements are of a comprehensive nature (completing more than one category of improvement); 2. Project provides a high street front impact (is highly visible from the street); 3. Project is of a scale to be a catalyst for the area; 4. Proposed improvement property is located next to a recent or proposed redevelopment project; 5. Improvement project will cause the occupancy of a currently vacant building 6. Number of jobs created as a result of a newly opened business; 7. Use of green materials and or green construction techniques FUNDING DISBURSEMENT REQUIREMENTS 1. Approved grant funding shall be disbursed on a reimbursable basis upon the provision by the grantee of cost receipts for completed work; 2. Before and after photographs of all approved work shall be required prior to the disbursement of grant funding; 3. A inspection of the site and of the completed work shall also be performed by SMCRA staff prior to the disbursement of grant funding; 4. Properties sold within a year from the receipt of grant funding must pay back the total amount of grant funding to the SMCRA. Approval of the attached resolution shall authorize adoption of aforementioned fagade grant criteria and program guidelines for implementation of the SMCRA Facade Grant Program and FY 2008 -2009 funding in the amount of $10,000. RECOMMENDATION Staff recommends approval of .the attached resolution authorizing adoption of the specific grant criteria and eligibility requirements for the SMCRA administered Facade Grant Program. Attachments: SD /MCGRUFF \PLANNING \CRA \SMCRA Fapade Grant and Program Criteria.doc 1 RESOLUTION NO. 5 A RESOLUTION OF THE CITY OF SOUTH MIAMI 6 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 7 RELATING TO COMMERCIAL BUSINESS 8 REHABILITATION; AUTHORIZING ADOPTION BY THE 9 SMCRA BOARD OF SPECIFIC GRANT CRITERIA AND 10 ELIGIBILITY REQUIREMENTS FOR THE SMCRA FACADE 11 GRANT PROGRAM; AND PROVIDING AN EFFECTIVE 12 DATE. 13 14 WHEREAS, As part of the 2008 -2009 Budget Workshop and subsequent 15 adoption of the $3,147,600 FY 2008 -2009 SMCRA Budget, the SMCRA Board 16 allocated specific line item funding in the of $10,000 for commercial business 18 improvements to renovate fagades of existing commercial structures; and 19 WHEREAS, during this year's budget workshop, the Board discussed 20 possibly utilizing this year's allocated faced grant funding to implement a "pilot" 21 commercial improvement project in the SMCRA; and 22 23 WHEREAS, staff was recently approached by at least two existing 24 businesses in the SMCRA with possible interest in renovating the facade of their. 25 existing commercial buildings; and 26 27 WHEREAS, as has been similarly done with all other SMCRA programs, 28 specific program guidelines have been developed for eligibility and monitoring 29 compliance; and 30 31 WHEREAS, the following list of proposed criteria and eligibility 32 requirements shall be utilized by the SMCRA in determining applicant eligibility, 33 related program requirements, staff and Board review criteria and funding 11 disbursement: 36 JJ PROGRAM ELIGIBILITY REQUIREMENTS 39 1. A completed facade grant application must be provided too the SMCRA; 40 2. Proposed building improvements must be located within the boundaries of the 41 SMCRA District; 42 3. Businesses must be a permitted use (per zoning); 43 4. Proposed building improvements may not be undertaken on properties listed for 44 sale; 45 5. Proposed building improvements must be initiated within ninety (90) days 46 following SMCRA Board approval; 47 6. Proof of ownership of the proposed improvement property must be provided or 48 written permission from the existing building owner must be received by the 49 SMCRA; Pagel of 3 1 2 3 4 5 6 7 A 1i 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 7. A location map of the proposed improvement property must be provided to the SMCRA; 8. Proof of fire and casualty insurance must be provided to the SMCRA; 9. Two detailed written estimates must be provided to the SMCRA from contractors and vendors for the services /work to be completed; ELIGIBLE FACADE IMPROVEMENTS 1. Building fagade reconstruction; 2. Exterior building painting; 3. Building fagade door /window repair or replacement; 4. Building facade exterior wall repair; 5. Building fagade awning installation; 6. Building fagade sign installation; 7. Fagade area landscaping; 8. Fagade area parking repavement or brick paver installation; 9. Fagade area exterior lighting installation; REVIEW CRITERIA 1. Proposed improvements are of a comprehensive nature (completing more than one category of improvement); 2. Project provides a high street front impact (is highly visible from the street); 3. Project is of a scale to be a catalyst for the area; 4. Proposed improvement property is located next to a recent or proposed redevelopment project; 5. Improvement project will cause the occupancy of a currently vacant building 6. Number of jobs created as a result of a newly opened business; 7. Use of green materials and or green construction techniques; FUNDING DISBURSEMENT REQUIREMENTS 1. Approved grant funding shall be disbursed on a reimbursable basis upon the provision by the grantee of cost receipts for completed work; 2. Before and after photographs of all approved work shall be required prior to the disbursement of grant funding; 3. A inspection of the site and of the completed work shall also be performed by SMCRA staff prior to the disbursement of grant funding; 4. Properties sold within a year from the receipt of grant funding must pay back the total amount of grant funding to the SMCRA; and WHEREAS, the SMCRA desires to implement the aforementioned program criteria and eligibility guidelines into the SMCRA Facade Grant Program in order to facilitate additional and meaningful redevelopment projects in the SMCRA area. Page 2 of 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The above whereas clauses are incorporated by reference into this resolution. Section 2. The SMCRA Board formally adopts the aforementioned program criteria and eligibility requirements to be included as part of the SMCRA Fagade Grant Program. Section 3. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of February, 2009. ATTEST: South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: Chairperson Horace Feliu Eve A. Boutsis, Office General Counsel' South Miami Community Redevelopment Agency Page 3 of 3 Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member L. Williams: To: Honorable Chair SMCRA Boa From: Stephen SMCRA RESOLUTION aM%*1 #4 2001 Making our Neighborhood a Great Place to Live, Work and Play" Date: February 9, 2009 ITEM No. DISCRETIONAR Y FUND DISBURSEMENT- BOARD MEMBER NEWMAN A RESOLUTION OF THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO BOARD MEMBER DISCRETIONARY FUNDS; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE FUNDING IN THE AMOUNT OF $500 TO THE MARTIN LUTHER KING PARADE COMMITTEE TO ASSIST WITH PARADE EXPENSES ASSOCIATED WITH THIS YEAR'S ANNUAL MLK/BLACK HISTORY PARADE; AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 554- 99 -25, BOARD MEMBER DISCRETIONARY FUNDS (BOARD MEMBER NEWMAN); AND PROVIDING AN EFFECTIVE DATE BACKGROUND Board Member discretionary funds are provided annually as a budget line item in the SMCRA Budget. Discretionary funding in the amount of $1,000 is provided to each Board Member annually to facilitate economic development, community improvement and general assistance initiatives within the SMCRA area. At this time, Board Member Newman would like to declare $500 of her annual 2008- 2009 discretionary funds to the Martin Luther Parade Committee to assist with parade related expenses associated with this year's annual MLK/Black History Parade. The annual parade is a long- standing tradition in the City and is prominently routed through the heart of the SMCRA District each year (Exhibit A). The annual event is also a great source of pride for SMCRA residents as well as residents of the entire South Miami Community. Approval of the attached resolution shall authorize the SMCRA Director to disburse funding in the total amount of $500 to the Martin Luther Parade Committee for expenses associated with this year's annual MLK/Black History Parade. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director to disburse funding in the total amount of $500 to the Martin Luther Parade Committee for expenses associated with this year's annual MLK/Black History Parade and charging the total amount to Account No. 610 - 1110 - 554 -99 -25 (Board Member Discretionary Fund Account /Board Member Newman). Attachments: MLK /Black History Parade Overview SD \ \MCGRUFF \PLANNING \C R A\ 08/09 Discretionary Fund Disbursement - Board Member Newman.doc I RESOLUTION NO. 2 3 A RESOLUTION OF THE SOUTH MIAMI COMMUNITY 4 REDEVELOPMENT AGENCY ( SMCRA) RELATING TO BOARD 5 MEMBER DISCRETIONARY FUNDS; AUTHORIZING THE 6 SMCRA DIRECTOR TO DISBURSE FUNDING IN THE AMOUNT 7 OF $500 TO THE MARTIN LUTHER KING PARADE 8 COMMITTEE TO ASSIST WITH PARADE EXPENSES 9 ASSOCIATED WITH THIS YEAR'S ANNUAL MLKBLACK 10 HISTORY PARADE; AND CHARGING THE TOTAL AMOUNT TO 11 ACCOUNT NO. 610 - 1110 - 554- 99 -25, BOARD MEMBER 12 DISCRETIONARY FUNDS (BOARD MEMBER NEWMAN); AND 13 PROVIDING AN EFFECTIVE DATE. 14 15 WHEREAS, Board Member discretionary funds are provided annually as a 16 budget line item in the SMCRA Budget which appropriates $1,000 to each Board 17 Member to facilitate economic development, community improvement and general 18 assistance initiatives within the SMCRA area; and 19 20 WHEREAS, at this time, Board Member Newman would like to declare $500 of 21 her annual 2008 -2009 discretionary funds to the Martin Luther Parade Committee to 22 assist with parade related expenses associated with this year's annual MLK/Black History 23 Parade; and 24 25 WHEREAS, the annual parade is a long - standing tradition in the City and is 26 prominently routed through the heart of the SMCRA District each year and is a great 27 source of pride for SMCRA residents as well as residents of the entire South Miami 28 Community; and 29 30 WHEREAS, the aforementioned discretionary funding disbursement will further 31 promote and enhance the SMCRA's on -going commitment towards holistic 32 redevelopment and community improvement. 33 34 NOW THEREFORE BE IT RESOLVED BY THE COMMUNITY 35 REDEVELOPMENT AGENCY OF THE CITY OF SOUTH MIAMI, FLORIDA 36 THAT: 37 38 Section 1. The, South Miami CRA Board authorizes a funding 39 disbursement in the amount of $500 to the Martin Luther Parade Committee for expenses 40 associated with this year's annual MLK/Black History Parade and charging the total 41 amount to Account No. 610 - 1110 - 554 -99 -25 (Board Member Discretionary Funds/Board Page 1 of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 Member Newman). Following funding disbursement, the remaining balance in Account No. 610 -1110- 554 -99 -25 shall be $4,666.67. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this ATTEST: City of South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: Eve A. Boutsis, General Counsel day of February, 2009. APPROVED: Chairperson Horace Feliu Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Palmer: Board Member Beckman: Board Member Newman: Board Member R. Williams: Board Member: L. Williams Page 2 of 2 EXHIBIT A FS, V, W, 5,2007 SM parade honoring MLK and Black History Month a success BY $ER61O CARMONA he cold weather couldn't keep residents from standing out on their lawns to see the parade or from flocking to join the entertainment at Murray Park for The Black History Month Parade and Festivities on Saturday, February 17. They not only celebrated black history, but Martin Luther King Jr.'s birthday as well. Prior conflicts in January propelled the MLK committee to push their festivities a month later; however, the MLK committee was impressed with the turnout, including Levi Kelly, who worked on the event. "I've been in the committee for three years and this is probably the best we've had," Kelly said. "It [the event] signifies a unity type of get together. It's something that the older generation of the communi- ty really knows and feels strongly but it also teaches the young ones. It's rewarding to see young and old turn out." The parade began its route at Martin Luther King Boulevard and 71st Street and culminated in Murray Park. In the proces- sion were South Miami Police officers, Grand Marshall and Former South Miami Mayor Anna Price [the first African American mayor], school marching bands from South Miami High, Central High, and Homestead. There was also a birthday cake float ccicbrating South Miami's 80th anniversary, Ronald McDonald and more entertainment that brought residents out of their front yards to celebrate. Current South Miami Mayor Horace Feliu was pleased with the success of the event.