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11-10-08t 'O D/ o ❑ 2001 "Making our Neghbo/ltood O Cdeat Plow to Ln,P- Wbrk and Play/' 't�F'li" .,',?•r'r:?.. •. ..GENERAL':COUNCIb�j x::' r:: r} rr::. Ev ®;Boutsisi•:•:•:<��::•;'..,Y. ;,;.; :rSt�RA VICE CHAIAt�fN ,.::;: =:'r::•`Brian'.Seasle Y• �.; i °�:�r:�:�:�'r`:� :�:�:``�'3MCRA' SECR £TARY::::,,::,•.•, =,: :Y:�Maria M Menendez;::;::•:'.` •;SMCRA'�BOARD :MEMBER: '` %:�Randy:Wiscombe•:; =:: � :j:j;': ?:;a:•:SMCRA;DTRECTOR�: • {•, :;; :j }Stephen:David';; {:'r:;r ?5::� '�'`� ' a? ?•'r } ?a� }�'•.:':•:• }'r:• }: , a•: 7:v+. .. :.. +,¢:v: }: ^; ^ } }:•. a ^:v } }:�;� ;tiff•; ;a;:;:;,' �:�SMCRA�; BOARD' MEMBER r::ti�:?� }::.:Velma' «Palzaei �: �: r:::: ::'.`: "'x; ::: ,v :.:w:: ` v: }} Y:::: • • • + •: r:; : r,v: r::::: ; .v::.': r,•:. C' } "r'r }'r'r-- -------- --- : -- .. ,::.•• . Y:'' v' r:': =:.'.': =i:': :`:ti`i:`.':' }.Y.,., ..,..,.v. + .rr..,. .,, .. • ,, SMCRA`: BOARD : MEMBER : ' , ,::.; ; , Ja • Becldoan :. r: rr, } } }} ::• }:•: ;' }; } •:•} - ' ?fr } : =: {Y:.. Y'. ;$ ti;;.; r:':}};+`.':::':':,' r::.}:`.•:;:$; :':•: :•::':.;ir'rr`,Yr:....; +.; .+;.:.. rr ;:;•:;:;:`:':;:'::',:•:;.;::`: :;:ti ":`:': 3 }':;t : {titi• };': {'.:•,�: r$i }:``S� }:�:::•: ".•:•::v:ati: %:'r }:•::• } }; :.• X':• .•.• }:.: ^:•::`'.•:?:`:`:' }:::•, }:4; SNCRA';BOARD WPM p .rr tiv :tititi ?� ARD' MEMBER':• L'askiaaciid3'' Williams {: . Sti4 � tai{ � :r::r :•. } } } } } } :.. • :j:�:a�t�7�7�:�t�7�:�:�. .;SMCRA`^BO :•r, ,r,; .r sv. r. .... +....,,.;; };:'+.`.:;: };; +;. ; :`:':':: };:^':: * ^' SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY CRA Meeting Meeting Date: Monday November 10, 2008 Time: 6:30 PM Next Meeting Date: Monday December 8, 2008 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) October 13, 2008 COMMUNITY REDEVELOPMENT AGENCY 1 AGENDA - November 10, 2008 2. DIRECTOR'S REPORT: A) Monthly Expenditure Report B) Final Adopted Miami -Dade County Millage Rate C) Mobley Building Renovation Update D) Proposed Charter School Development 3. GENERAL COUNSEL REPORT A) None 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 OCTOBER 28, 2008 IN THE TOTAL AMOUNT OF $7,107.52; 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 THE SMCRA DIRECTOR TO SEEK THE SERVICES OF A PROFESSIONAL REALTOR TO REPRESENT THE SMCRA DURING ALL PROPERTY PURCHASES IN WHICH A REALTOR REPRESENTS THE PROPERTY OWNER OF RECORD; AND PROVIDING AN EFFECTIVE DATE. (Chair Feliu) 6. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO ANNUAL SCHOLARSHIP FUNDING; AUTHORIZING THE APPROVAL OF SPECIFIC CRITERIA AND ELIGIBILITY REQUIREMENTS FOR THE JAMES T. BOWMAN SCHOLARSHIP PROGRAM; AND PROVIDING AN EFFECTIVE DATE. (Board Member L. Williams) 7. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO AFFORDABLE HOUSING DEVELOPMENT; AUTHORIZING THE SMCRA DIRECTOR TO CONVEY SMCRA OWNED PROPERTY LOCATED AT 6082 SW 63m STREET COMMUNITY REDEVELOPMENT AGENCY 2 AGENDA - November 10, 2008 TO HABITAT FOR HUMANITY FOR THE PURPOSE OF CONSTRUCTING ONE AFFORDABLE SINGLE- FAMILY HOME; AND PROVIDING AN EFFECTIVE DATE. 8. 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6477 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 010 -0700) FOR A TOTAL PURCHASE PRICE OF $72,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110- 583 -61 -10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. (Board Member Beckman) 9. 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6487 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 010 -0080) FOR A TOTAL PURCHASE PRICE OF $76,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110- 583 -61 -10 (LAND ACQUISITION ACCOUNT) ; AND PROVIDING AN EFFECTIVE DATE. (Board Member Beckman) 10. 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 NAOMI WILLIAMS, ETALS AND FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6488 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 000 -0850) FOR A TOTAL PURCHASE PRICE OF $452,000 AND CHARGING THE TOTAL AMOUNT TO .ACCOUNT NO. 610 -1110- 583 -61 -10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. (Board Member Beckman) 11. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO AFFORDABLE HOUSING DEVELOPMENT; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE FUNDING IN THE TOTAL AMOUNT OF $9,683 TO THE EDFM CORPORATION FOR PAYMENT OF OUTSTANDING PROPERTY TAXES ON FORMALLY OWNED AND CONVEYED SMCRA AFFORDABLE HOUSING PROPERTIES LOCATED AT 5899 SW 67TH STREET (FOLIO 09 -4025- 028- 0300) AND 6400 SW 57TH COURT (FOLIO 09- 4025 -015- 0030); AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 -583- 31 -25 (PROPERTY MANAGEMENT/ PROPERTY TAXES ACCOUNT) ; AND PROVIDING AN EFFECTIVE DATE. COMMUNITY REDEVELOPMENT AGENCY 3 AGENDA - November 10, 2008 12. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO RESIDENTIAL REHABILITATION; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE MULTI - FAMILY REHABILITATION GRANT FUNDING IN THE AMOUNT OF $2,435 TO MS. BONNIE GILLIS TO REPAIR A SUBSTANTIALLY DAMAGED BATHROOM LOCATED AT 6119 SW 69TH STREET, UNIT #43 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 -553- 99 -30 (RESIDENTIAL REHABILITATION /MULTI - FAMILY GRANT ACCOUNT); AND PROVIDING AND EFFECTIVE DATE. BOARD COMMENTS ADJOURNMENT POEMS TAKE BOT/0E THRT 00"OB 2-f. l(k)t2) Of THE CODE Of ORD //1B/IOEI P/lOY/DEl TNAT d/IT PEMOB Nfiffi/16 PERIOBIO //11PEBT/BEBT. OR IIAADE"Of HERON" OR WHO 11110! OEOOOIE DO/lTERO[Il !DH /lE ADDAfIl /BG THE OOBIBf /ll /OB 111101 DE P0RT11W/T// OARRED !1001 /VaMER 00,91MOEDEl01E THE OO_ VA011OT ME PRE11,01B6 007007 U10Ell PERX11004 TO 001"WEDE 61714TED OT A011/OR/TY VOTE Of ME 00=111100. 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 - November 10, 2008 1 5 6 7 8 10 11 12. 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 WX H 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 CALL TO ORDER: The South Miami Community Redevelopment Agency met in regular session on Monday, October 13, 2008 beginning at. 6:41 p.m., in the City Commission Chambers, 6130 Sunset Drive. A. ROLL CALL: The following members of the CRA Board were present: Chair Horace Feliu, Vice Chair Brian Beasley and Members Velma Palmer and Jay Beckman. Member Rodney Williams arrived at 6:55 p.m. Member Lashawnda Williams arrived at 6:57 p.m. Member Randy Wiscombe was absent. Also in attendance were: General Counsel Eve Boutsis, CRA Director' Stephen David, Program Coordinator James McCants and Deputy City Clerk Nkenga Payne. B. INVOCATION: The invocation was delivered by Chair Horace Feliu. C. PLEDGE OF ALLEGIANCE: The Pledge of Allegiance was recited in unison. REGULAR MEETING 1. APPROVAL OF MINUTES A) September 8, 2008 It was moved by Member Palmer and seconded by Chair Feliu to approve the minutes as presented. The motion passed by a 4 -0 vote. COMMUNITY REDEVELOPMENT AGENCY Minutes - OCTOBER 13, 2008 Member L. Williams: Member R. Williams: Member Beckman: Member Palmer: Vice Chair Beasley: Chair Feliu: Member Wiscombe: 1 not present not present yea yea yea yea absent i 1 2 2. DIRECTOR'S REPORT: 3 4 A) Monthly Expenditure Report 5 6 There were no questions. 7 8 B) Grants Application Update 9 10 Mr. David gave an overview of the grants that we currently 11 have and what grants are being pursued for the upcoming year. 15 3. GENERAL COUNSEL REPORT 16 17 Member Palmer asked if there are any updates regarding the 18 Mt. Nebo property acquisition. 19 20 Counsel Boustis explained that Miami -Dade County is 21 investigating and she doesn't have that information yet. 22 23 24 PUBLIC COMMENTS 25 26 Sharon McCain addressed the Board with her concerns 27 regarding the absence of Member Wiscombe. 28 29 CONSENT AGENDA 30 31 CRA 38 -08 -350 32 4. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY 33 REDEVELOPMENT AGENCY (SMCRA) RELATING TO ATTORNEY FEES; 34 APPROVING ATTORNEY'S FEES FOR NAGIN GALLOP FIGUEREDO, 35 P.A., FOR INVOICES DATED SEPTEMBER 30, 2008 IN THE TOTAL 36 AMOUNT OF $1,413.52; AND CHARGING THE AMOUNT TO ACCOUNT 37 NO. 610 - 1110 - 564 -31 -20 (GENERAL CORPORATE ACCOUNT); AND 38 PROVIDING AN EFFECTIVE DATE. 39 40 CRA 39 -08 -351 41 5. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY 42 REDEVELOPMENT AGENCY (SMCRA) RELATING TO ATTORNEY FEES; 43 APPROVING ATTORNEY'S FEES FOR LOTT & LEVINE, FOR INVOICE 44 DATED APRIL 17, 2008 IN THE TOTAL AMOUNT OF $41418.25; 45 AND CHARGING THE AMOUNT TO ACCOUNT NO. 610- 1110 - 583 -61 -10 46 (LAND ACQUISITION ACCOUNT) ; AND PROVIDING AN EFFECTIVE 47 DATE. 48 It was moved by Chair Feliu and seconded by Member Palmer to 49 approve the consent agenda. The motion passed by a 4 -0 vote. 50 COMMUNITY REDEVELOPMENT AGENCY 2 Minutes - OCTOBER 13, 2008 1 Member L. Williams: 2 Member R. Williams: 3 Member Beckman: 4 Member Palmer: 5 Vice Chair Beasley: 6 Chair Feliu: 7 Vice Chair Wiscombe: 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 48 RESOLUTIONS CRA 40 -08 -352 F-• not present not present yea yea yea yea absent 6. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (SMCRA) RELATING TO PARK IMPROVEMENTS; AUTHORIZING A FIRST ADDENDUM TO AN EXISTING AGREEMENT WITH BENSON ELECTRIC TO INSTALL SECURITY LIGHTING AT MARSHALL WILLIAMSON PARK AND CHARGING THE ADDITIONAL AMOUNT OF $13,413 TO ACCOUNT NO. 610- 1110 -572- 34 -50 (CONTRACTUAL SERVICES /MARSHALL WILLIAMSON PARK IMPROVEMENTS); AND PROVIDING AN EFFECTIVE DATE. It was moved by Chair Feliu and seconded by Vice Chair Beasley to approve this item. vote. After there was no discussion, the motion passed by a 4 -0 Member L. Williams: Member R. Williams: Member Beckman: Member Palmer: Vice Chair Beasley: Chair Feliu: Vice Chair Wiscombe: not present not present yea yea yea yea absent Before items 7, 8 and 9 were read into the record, Vice Mayor Beasley recused himself. There was discussion from the Board members regarding the purchasing of the properties in items 7, 8 and 9. Chair Feliu stated that he has a problem with this procedure for the purchase contracts of these properties without direction from the Board. Member Beckman asked that the director negotiate a purchase price and purchase contract with the owners and bring the items COMMUNITY REDEVELOPMENT AGENCY 3 Minutes - OCTOBER 13, 2008 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 H 40 41 42 43 44 45 46 1� 50 51 52 back at the next meeting.. Member L. Williams said that she is favor of moving forward with the purchase of the properties. The Board also discussed the issues of the appraisals for these properties. The Board agreed to throw out appraisal number 3 (Coast to Coast Inc.) and come back with another appraisal and negotiate a purchase price from that. The consensus of the Board was to get another appraisal, meet with the property owners, negotiate /establish a fair purchase price and bring all three resolutions back at the next meeting. Chair Feliu also suggested the SMCRA get a realtor to represent the SMCRA and submit the contract through the listing agent and make the offer through them. Member Beckman moved to withdraw items 7, 8 and 9 from the agenda, with the instructions to have the director get a third appraisal, meet with the property owners, establish a fair price and bring the items back with completed contracts for the purchases at the next meeting. The motion was seconded by Member R. Williams. The motion passed by a 5 -0 vote. Member L. Williams: yea; Member R. Williams: yea; Member Beckman: yea; Member Palmer: yea; Chair Feliu: yea. - .... a ... .. - - - .. .. .. . e .. _ 1.5 -. .. .. ... .., a 111100-01W. W-MORM-NAww" ...,. .._ a - - - .. .. & .. _ 1.5 .. .. 111100-01W. W-MORM-NAww" 9. A RESOLUTION OF THE GITY, OF SOUTH MIAMI GVl�' UNITS AUTHORIZING THE SMGRA BzzEGTOR TO ENTER !NTO GONTRAGT WITH COMMUNITY REDEVELOPMENT AGENCY 4 Minutes - OCTOBER 13, 2008 1 2 3 4 5 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 48 49 50 110*11AW ... .. ti. .. .. ... e Member R. Williams: .. .. ... .._. .. e .. ... ! AV .. a .. MM, INS Vice Chair Beasley: out of room _ .: �_ Lk a .. .: Nt CRA 41 -08 -353 10. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE FUNDING IN THE TOTAL AMOUNT OF $18,000.40 TO MIAMI -DADE COUNTY FOR ANNUAL PROPERTY TAXES FOR SMCRA OWNED RENTAL PROPERTIES LOCATED AT 6442 SW 59TH PLACE (FOLIO NO. 09- 4025 - 010 - 0180); 6429 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 010 -0040) ; AND 6415 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 010 - 0030) ; AND CHARGING ACCOUNT NO. 610 -1110- 583 -31 -25 (PROPERTY MANAGEMENT/ PROPERTY TAX ACCOUNT) AND PROVIDING AN EFFECTIVE DATE. It was moved by Chair Feliu and seconded by Member Palmer to approve this item. After there was no discussion, the motion passed by a 5 -0 vote. Member L. Williams: yea Member R. Williams: yea Member Beckman: yea Member Palmer: yea Vice Chair Beasley: out of room Chair Feliu: yea Vice Chair Wiscombe: absent CRA 42 -08 -354 11. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO AFFORDABLE HOUSING; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE GRANT FUNDING IN AN AMOUNT NOT TO EXCEED $25,000 TO GLORIA BROWN TO PROVIDE AFFORDABLE HOUSING "GAP" FINANCING FOR THE PURCHASE OF SINGLE- FAMILY HOUSING LOCATED AT 5895 SW 67TH STREET (FOLIO NO. 09- 4025 - 028 - 0300); AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 553 -99 -30 (HOMEOWNER ASSISTANCE GRANT ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. It was moved by Chair Feliu and seconded by Vice Chair Beasley to approve this item. Member Palmer stated that she was happy that the Affordable Housing Committee was able to work on this. COMMUNITY REDEVELOPMENT AGENCY 5 Minutes - OCTOBER 13, 2008 1 After there was no further comments, the motion passed by a 6- 2 0 vote. 3 4 Member L. Williams: yea 5 Member R. Williams: yea 6 Member Beckman: yea 7 Member Palmer: yea. 8 Vice Chair Beasley: yea 9 Chair Feliu: yea 10 Vice Chair Wiscombe: absent 11 12 CRA 43 -08 -355 13 12. A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY 14 REDEVELOPMENT AGENCY ( SMCRA) RELATING TO AFFORDABLE 15 HOUSING; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE GRANT 16 FUNDING IN AN AMOUNT NOT TO EXCEED $25,000 TO DENISE 17 GOODMAN TO PROVIDE AFFORDABLE HOUSING "GAP" FINANCING FOR 18 THE PURCHASE OF SINGLE- FAMILY HOUSING LOCATED AT 6400 SW 19 57' COURT (FOLIO NO. 09- 4025 - 015 - 0030) ; AND CHARGING THE 20 TOTAL AMOUNT TO ACCOUNT NO. 610- 1110- 553 -99 -30 (HOMEOWNER 21 ASSISTANCE GRANT ACCOUNT); AND PROVIDING AN EFFECTIVE 22 DATE. 23 It was moved by Member Palmer and seconded by Vice Chair 24 Beasley to approve this item. 25 26 After there was no discussion, the motion passed by a 6 -0 27 vote. 28 29 Member L. Williams: yea 30 Member R. Williams: yea 31 Member Beckman: yea 32 Member Palmer: yea 33 Vice Chair Beasley: yea 34 Chair Feliu: yea Vice Chair Wiscombe: absent 335 3� 38 39 BOARD COMMENTS 40 41 There were no Board comments. 42 43 ADJOURNMENT 5[! 45 There being no further business to come before this Body, the 46 meeting was adjourned at 7:31 p.m. 47 48 Approved: COMMUNITY REDEVELOPMENT AGENCY 6 Minutes - OCTOBER 13, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 Attest: Maria M. Menendez CPA Secretary COMMUNITY REDEVELOPMENT AGENCY Minutes - OCTOBER 13, 2008 7 Horace G. Feliu CRA Chairperson M I NA 3M 3001 Making our Neighborhood a Great Place to Jive, Work and Play" To: Honorable Chair and SMCRA Boa .del From: Stephen David, �, Date: November 10, 2008 ITEM No. MONTHLYEXPENDITURE REPORT Attached as Exhibit A is the monthly expenditure for the month of August 2008. 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P P WACu0PLCLI WHW AAA PHP HHP W FC FC71 4 C)W:vli I I 14x000 xzx x x000 x a xz Ox00 pCm]C zzz P OM PO0m x PF� HH Hr� \NH I 1 AFCxxx HOP 4 xxxx x A Pr�xP+xx HWP FSFCFC. WWW W W W H Ox OH oP o2p 1 I UNNNN .OUO a . xWPIP1 U O N 1 NN 0x0 O HU HU HU HU1 O I UhW I . m 1 P1 tD I O •K O •11 # o i1 * i< O U) •k Ln •# Oil O •k 0 •K it it o H A •• I OOm I Ni< Ln* i Ni i k N + LO i rii ri k H i i r-I H O W 2 W I H 0490 I wW I c-i H c-I d1 d1 d1 i1 HHri i< i< HHHH rd1w HHH HHH NNN •k i< r-I 10 I 0 1 MMM MMM i1 MMM i< it MMMM MMM 101010 rrr rrr •k is 134 0 D4 1 A W M 9 HH . A W O P I POI N N d w M o 0o H W xxH , FCA I rr r r r r 0o Ln Ln A A Lu PI PI U I G, PQ m I Ln Ln Ln In Ln In Ln Ln . �Zj ►'1 L49 _: 7_\ 2001 Making our Neighborhood a Great Place to live, Work and Play' To: Honorable Chair and SMCRA Board Teem -b'er From: Stephen David, SMCRA Directo Date: November 10, 2008 ITEM No. MIAMI -DADE FINAL ADOPTED MILLAGE RATE On September 29, 2008 the Board adopted the 2008 -2009 Budget. The 08/09 Budget was subsequently approved by the City Commission on October 7, 2008. Following final approval of a Miami -Dade County millage rate of 4.8379, notification was provided to staff that the annual expected tax increment financing (TIF) payment from Miami -Dade County would decrease by a total amount of $5,347 (Exhibit A). Based on the $5,347 decrease, the total expected TIF revenues from Miami -Dade County this year shall be $719,472. The annual administrative fee payment required to be paid to Miami -Dade County also decreased by a total of $80. Based on the final approved millage rates for both the City of South Miami and Miami -Dade County, the total 08/09 TIF revenues expected this year shall be 1,516,771 which includes a total of $719,472 from Miami -Dade County and $797,299 from the City of South Miami. Attachments: Letter from Miami -Dade County Indicating Final Approved Annual Millage Rate SD /MCGRUFF \PLANNING \CRA \Miami -Dade County Final Adopted Millage Rate.doc - EXHIBIT A , Strategic Business Management 111 NW 1 st Street • 22nd Floor M I A M I -DADE Miami, Florida 33128 -1994 T 305 - 375 -5143 F 305 - 375 -5168 • miamidade.gov ADA Coordination Agenda Coordination Animal Services September 29, 2008 An in Public Places Audit and Management Services Aviation Mr. Stephen David, Director Building Building Code Compliance South Miami Community Redevelopment Agency Business Development 6130 Sunset Drive Capital Improvements South Miami, FL 33143 Citizens' Independent Transportation Trust Commission on Eihics and Public Trust Re: Miami -Dade County's Proiected Tax Increment Financing (TIF) Payment Communications Community Action Agency Dear Mr. David: Community & Economic Development Community Relations mmuniterServices This letter serves to inform you of the tax increment revenues due from Miami -Dade Corrections & Rehabilitation County to the South Miami CRA Tax Increment District for FY 2008 -09. Cultural Affairs Elections On September 18, 2008, the Board of County Commissioners set the countywide Emergency Management millage rate for FY 2008 -09 at 4.8379. Pursuant to our letter of August 4, 2008, staff Employee Relations e- mailed notice of this final adopted millage rate on September 22, 2008, to all Empowerment Trust Community Redevelopment Agencies (CRAs). Enterprise Technology Services Environmental Resources Management The County's Tax Increment payment amount, due to the South Miami CRA Tax Fair Employment Practices Increment District by December 31, 2008 is detailed below. Finance Fire Rescue General Services Administration Also shown below is the 1.5% Administrative Charge calculated on the countywide Historic Preservation portion of the tax increment revenue received by the CRA, and the 2006 final tax roll Homeless Trust adjustment detail. Housing Agency Housing Finance Authority Based on the Adopted Countywide Millage of 4.8379 Human Services $370,501,928 - Preliminary, 2008 assessed value of Tax Increment District Independent Review Panel International Trade Consortium ($68,4371390) - Taxable value in Base Year —1998 juvenile Services $302,064,538 - Value of increment . Medical Examiner $730,679 - Revenue Metro -Miami Action Plan . - Increase (reduced) for 2006 adjustment (detailed below)* Metropolitan Planning Organization Park and Recreation @$11,207 $719,472 - Revenue payable to CRA by December 31, 2008 Planning and Zoning Police * 2006 Adjustment Detail Procurement Management $335, 042, 926 -Final 2006 Tax Roll Property Appraisal Public Library System $339,034,734 - Preliminary 2006 Tax Roll Public Works ($3,991,808) - Revision per Value Adjustment Board Safe Neighborhood Parks 5.615 - Actual 2006 Millage Seaport ($11,207) - Adjustment amount for December 2008 check Solid WasleManaement Strategic Business Management Team Metro Information on County 1.5% Administrative Reimbursement Charge . Transit $719,472 - 2008 TIF Payment by County Task Force on Urban Economic Revitalization •$10,792 - Amount of 1.5% charge to be, budgeted Vizcaya Museum And Gardens Water & Sewer -� Page 2 If you have any questions please contact Jorge M. Fernandez, OSBM Coordinator, at (305) 375 -1543. Sincerely, Jennifer Gla er -Moon Director cc: W. Ajibola Balogun, City Manager, City of South Miami James McCants, Community Outreach Coordinator, South Miami CRA Cynthia W. Curry, Senior Advisor to the County Manager Jorge M. Fernandez, OSBM Coordinator ZOM%A104 2001 Making our Neighborhood a Great Place to lithe, Work and Ploy° To: Honorable Chair and SMCRA Board Meml From: Stephen David, SMCRA Director Date: November 10, 2008 ITEM No. ato 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 7, 0 OMMAN! FT hill, 11TJ 274'�5 ps: � IS" EXHIBIT B O U a) O � U p ai U N M M M 00 M - M M U O O o N cC O O ' b *� U � � 00 00 0 O N O U cl U c� O O 0�1 M bbb T � 000 0 40, rn 0 N p 4 U t-y i al N a' U t� o 0 ElZ U o� U . Q ° o 111 Ll I k u ; U �O O, O ® 4, bA a) 0 0 p" O �a O 00 O N r.� >C � N 00 ,iy� y b 0 U •c �{ rl b .� iii ~ •� �� T v a 4 EXHIBIT B O U a) Cd M M M M M M M M U N cC O O w 00 00 0 O N cl U O 0�1 M N T � 000 0 O N p 4 U .� al N a' bA o 0 U U U Q U 111 Ll I k u ; U { 2001 Making our Neighborhood a Great Place to Live, Work and Play- To: Honorable Chair and SMCRA Board Memi From: Stephen SMCRA Date: November 10, 2008 ITEM No. a� PROPOSED CHARTER SCHOOL DEVELOPMENT IN THE SMCRA DISTRICT For informational purposes for the SMCRA Board, the Somerset Charter School has recently proposed the construction of a new two -story charter school on a currently vacant 34,514 square foot parcel located at the southwest corner of SW 68th Street and SW 58th Place within the SMCRA District. The proposed site has been vacant for several years and if constructed, the project will provide a substantial improvement within a currently blighted section of the SMCRA. The Somerset Charter School Project was recently reviewed by the Environmental Review Board during their November 5, 2008 Meeting (Exhibit A). Attachments: ERPB Report for Charter School Development SD/MCGRUFF \PLANNING \CRA \Proposed Charter School Development.doc EXHIBIT A CITY OF SOUTH MIAMI ENVIRONMENTAL REVIEW & PRESERVATION BOARD To: Chair & Members, Environmental Review & Preservation Board Via: Sanford A. Youkilis Acting Planning Director From: Lourdes Cabrera - Hernandez . Planner Date: November 5, 2008 Tuesday 8:30 a.m. Re: ERPB -08 -079 Applicant: Alejandro Remos, Architect Location: 5876 SW 68 Street, South Miami, Florida Request: NEW CONSTRUCTION: Preliminary Review: First Review APPLICANT'S REQUEST: The applicant is requesting preliminary approval from the Environmental Review and Preservation Board (ERPB) for the new construction of the proposed two -story building, located at the above referenced location. . STAFF ANALYSIS: A. ZONING DISTRICT: The proposed project is located in the TODD -MU4, Transit - Oriented Development District Mixed Use 4. Pursuant to Section 20 -3.1, of the Land Development Code. The purpose of this district is to maximize the presence of a mass transit center located within walking distance of the boundaries of the district. The TODD District is intended to provide for the development of office uses, office services, office - related retail, retail, retail services, and residential uses in multi -story and mixed use projects that are characteristics of transit - oriented developments. Regulations provide for the continuation of existing light industrial uses, but encourages redevelopment through flexible building heights, design standards, and performance - oriented incentives. Pursuant to Section 20- 8.3(C)(2)(a), Permitted Uses, Land Development Code. The uses permitted in each TODDMU -4 are Residential and Commercial Uses. B. SURVEY: See attached boundary survey, prepared by Frank Paruas, Professional Land Suveor, submitted to the ERPB on October 24, 2008. C. SITE PLAN DESIGN: The applicant, Mr. Remos, Architect, for the proposed two -story building located at the southwest corner of SW 68 Street and SW 58 Place. The proposed development "Somerset School," consists of a lot area of 34,514.50 square feet. The two story building provides a gross floor area of 23, 998 square feet, first floor 11,172 square feet and second floor. 12,826 square feet. The design consists of an urban pedestrian friendly covered walkway arcade, extending the entire length of the corner building. 5876 SW 68 Street "Somerset School" New Construction: Preliminary ERPB- August 7, 2007 Page 2 of 3 Inclusive of a physical barrier designed to accent the character of the proposed building. The parking area is located at the rear of the building and the children drop -ff on the side adjacent to SW 68 Street. As per the Permitted Use Schedule, Section 20- 3.3(D), page 30.1, of the Land Development code; a School, Elementary is permitted by right within the TODD MU4 zoning district. Pursuant to the Off - Street Parking Requirements, Section 20- 4.4(B)(10) for an elementary school must be one. (1) space per four hundred (400) square feet of gross floor area. 23,998sq. feet X Ippace = 59.99spaces ::� 60spaces 1 400sgfeet D. ELEVATIONS: The building elevations for the entire site are part of the submitted set of plans, sheet number A -103. The maximum height of the proposed two -story building is 28' -6" where a maximum height of 30 feet is allowed. The elevations include the building height, building finishes and materials, noted on plans. The physical barrier, designed to include a metal gate are a part of the elevations. The massing of the buildings facades and architectural elements are enhanced by the selected exterior paint colors. E. EXTERIOR PAINT COLORS: The design intent of the exterior paint colors are indicated on the rendering that will be presented at the ERPB meeting. The multi -color fagade colors by Sherwin Williams are as follows: For the Body, Interactive Cream SW6113; and two accent colors Lakeshore SW6494 and Redwing SW2909. The proposed color combination enhances the architectural corner design and site circulation. Note: A color rendering of the proposed building design, "Somerset School" will be presented at the meeting, including the submitted photographs of both the subject property for review. F. Development Review Committee: On October 28, 2008 (Tuesday), the committee met to review the proposed site plan. The Stormwater Ordinance was emphasized by the Planning Department. The intent of the Ordinance is to "require all properties to retain stormwater drainage on site as to prevent development that would result in contributing to or causing recurrent ponding on adjoining properties or public right -of- way." Also noted was the applicant shall submit all required separate permits accordingly. G. Landscaping Plan: The landscape plan submitted to the City can be found on the attached site plan, sheet L -1. The Plan includes a description of the landscape legend, including tree names and other pertinent information. Shown on the legend are the number of trees that will be added as part of the proposed project. Pursuant to Section 20- 4.5(D)(5)(b) of the Land 5876 SW 68 Street "Somerset School" New Construction: Preliminary ERPB- August 7, 2007 Page 3 of 3 Development Code, the ,minimum number or trees required for the TODD zoning district are 28 trees per acre of net lot area. A grading and irrigation plan will be required from the applicant prior to final ERPB approval. A tree removal permit and performance bond is attached for additional information. RECOMMENDATION: Preliminary Approval with the following conditions: 1. Pending City Attorney' s ruling reference to square footage (to be determined if porch area is to be counted as building square footage); 2. Meet the requirements as set forth in the Adopted Stormwater Ordinance; 3. Submit the grading and irrigation plan prior to final ERPB approval; 4. Submit the engineering plans prior to final ERPB approval; 5. Signage for the building is not a part of this application; and 5. Any comments and /or suggestions from the Board. Attachments: • ERPB Application, dated October 22, 2008 • Property Survey (24 "x36 ", On File) • Photographs to be presented at meeting, • Zoning Use Districts and Purposes for Todd 4 District, Section 20 -3.1, Land Development Code • Tree Removal Permit and Performance Bond . • Architectural Plans Site Plan & Landscaping Plan, • Floor Plan • Elevations • Sections & Details • Landscaping plan LCH Z: \ERPB \ERPB Agendas\2008 ERPB AGENDAS \November 5, 2008 \ERPB 08- 079.doe '1111' MCRA 2001 'Making our Neighborhood a Great Place to Live; Work and Play' To: Honorable Chair and Date: November 10, 2008 SMCRA Boa 'Member From: Stephen 11 avid, ITEM No. SMCRA Directo PAYMENT OF ATTORNEY FEES FOR NAGIN GALLOP RESOLUTION 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 INVOICE DATED OCTOBER 28, 2008 IN THE TOTAL AMOUNT OF $7,107.52; 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 invoice dated October 29, 2008 (Exhibit A) for general corporate matters. Invoice Date Amount October 28, 2008 $7,107.52 Total amount of all invoices: $7,107.52 Charge Account No. 610 -1110- 564 -31 -20 (General Corporate Acct) 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 $7,107.52 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 will be $31,484.96 Attachments: Resolution Nagin Gallop Figueredo Invoices SD: \CRA \Nagin Gallop Payment Report.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 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 INVOICE NUMBER 19779 DATED OCTOBER 28, 2008 IN THE TOTAL AMOUNT OF $7,107.52; 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 invoices to the CRA for legal services rendered, costs advanced, for 0076 -001, general corporate matters for the periods ending October 28, 2008 in the amount of $7,107.52. 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 $7,107.52 to Nagin Gallop Figueredo, P.A., for its attorney's fees on 0076 -001, general corporate CRA matter. Following funding disbursement, the remaining balance in Account No. 610 -1110- 564 -31 -20 will be $31,484.96. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this day of November, 2008. ATTEST: APPROVED: City of South Miami Community Redevelopment Agency Clerk READ AND APPROVED AS TO FORM: Eve A. Boutsis, General Counsel Chairperson Horace Feliu Board Vote: Chairperson Feliu: Vice Chairperson Beasley: Board Member Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A NAGIN GALLOPFIGUEREDOr& Attorneys & Counselors 18001 Old Cutler Road - Suite 556 Telephone: (305) 854 -5353 Miami, Florida 33157 -6416 Facsimile: (305) 854 -5351 October 29, 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 1'D: 0076 -001 Dear Stephen: I enclose our cum's invoice number 19779 for services and costs incurred through October 28, 2008, in the amount of $7,107.52. I also attach the resolution approving same. If you have any questions, please do not hesitate to contact me. Thank you. Very truly yours, k�veA. Boutsis General Counsel for the South Miami Community Redevelopment Agency EAB/lcm Enclosure CONFIDENTIAL - ATTORNEY/CLIENT PRIVILEGE NAGIN GALLOP FIGUEREDO PA. Attorneys & Counselors 18001 Old Cutler Road, Suite 556, Miami, Florida 33157 Telephone: (305) 854 -5353 Facsimile: (305) 854 -5351 Stephen David October 28, 2008 City of South Miami Matter ID: 0076 -001 6130 Sunset Drive CRA - General Corporate City of South Miaml, FL 33143 Invoice Number 19779 Hours Amount 9/8/2008 LRF Reviewed CRA agenda. Attended CRA meeting. 2.80 518.00 9/30/2008 LRF Telephone conference with CRA board members regarding 0.70 129.50 acquisition of specific properties. 10/1/2008 LRF CRA meeting with Mr. Stephen David regarding purchase of 0.50 92.50 properties. 10/1/2008 EAB Attention to inquiry with MDCCEPT, obtained opinion relating to 1.00 185.00 same; and attention to Habitat inquiry. 10/2/2008 EAB Attention to Habitat inquiry; telephone conference with Mr. David 0.40 74.00 regarding property purchases. 10/3/2008 EAB Attention to release of lien on Harrell property and attention to 0.30 55.50 warranty deeds; forwarded same to Mr. David. 10/6/2008 LRF Reviewed and revised covenant. 1.10 203.50 10/6/2008 EAB Analyzed draft contracts and telephone conference with broker on 2.10 370.00 purchases; telephone conference with Mr. David; drafted restrictive covenant. 10/8/2008 EAB Attention to pending matters and telephone conference with Mr. 0.30 55.50 Olilver re: land purchase. 10/9/2008 EAB Prepared first addendum to Benson Electric, Inc. contract. 1.00 185.00 10/9/2008 EAB Revised resolutions for agenda; communications with Mr. David and 2.70 499.50 Mr. Sandy Youkilis on pending items; meeting with broker, per his request, to review contracts and appraisals. 10/10/2008 EAB Attention to CRA matters. 0.30 55.50 10/11/2008 EAB Telephone conference with CH. Horace Feliu on agenda items. 0.30 55.50 10/13/2008 LRF Numerous telephone conferences concerning acquisition of three 2.20 407.00 properties on agenda; responded to inquiries regarding rules of order, ethical issues etc. 10/13/2008 EAB Attention to CRA agenda. 2.00 370.00 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 F €gueredo, P.A. Matter ID: 0076.001 Statement No. 19779 Page: 2 CONFIDENTIAL - ATTORNEY /CLIENT PRIVILEGE 10/13/2008 EAB Attended CRA meeting. 1.50 277.50 10/14/2008 LRF Follow up on issues relating to CRA acquisition of three properties 1.10 203.50 on agenda; and responded to citizen questions. 10/14/2008 EAB Attention to after action; telephone conference with broker; follow 0.60 111.00 up with Board members. 10/15/2008 LRF Telephone conferences concerning allegations of ethical 1.90 351.50 improprieties; and reviewed DVD of Oct 13, 2008 CRA meeting. 10/15/2008 EAB Attention to broker matter; received communications regarding 0.70 129.50 same; telephone conference with Mr. Nathiel Klitsburgh, attorney for Coldwell Banker. 10/16/2008 LRF Several telephone conferences concerning allegations of ethical 3.00 555.00 improprieties; reviewed information; telephone conference with Robert Myers Ethics Commission; and prepared memorandum to the Commission. Interviewed CRA staff. 10/17/2008 EAB Telephone conference with Commissioner Randy Wiscombe. 0.30 55.50 10/17/2008 EAB Follow up on property purchases. 0.30 55.50 10120/2008 LRF Meetings to address ethical concerns and complaints regarding 1.90 351.50 purchase of Williamson properties. 10/23/2008 EAB Attention to pending matters and CRA special meeting relating to 0.30 55.50 R FQs. 10/23/2008 EAB Telephone conference with Mayor Horace Feliu; began drafting 2.70 499.50 RFQ for services. 10/24/2008 LRF Conference with Mr. David regarding Mayor's request for Special 1.20 222.00 CRA meeting. Various conferences with Ms. Boutsis issues and proposed solutions surrounding failure of contractor to connect two new homes to sewer. 10/24/2008 EAB Attention to pending items; communications with Mr. Goege Lott; 0.60 111.00 and attention to Harrell property. 10/24/2008 EAB Attention to Goodman and Brown items. 0.40 74.00 10/27/2008 LRF Prepared letter to Ethics Commission; and meeting with 1.60 296.00 Commissioner Beckman. 10/27/2008 EAB Attention to Goodman and Brown matters. 0.20 37.00 10/27/2008 EAB Revised letter to Robert Meyers. 0.40 74.00 10/28/2008 EAB Attention to GMN taxes item; communications with Ms. Anne 1.00 185.00 Manning regarding same; and attention to real estate matter. Total Professional Services 6,900.50 Rate Summary Luis R. Figueredo 18.00 hours at $185.00/hr 3,330.00 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. 19779 Page: 3 CONFIDENTIAL - ATTORNEY /CLIENT PRIVILEGE Eve A. Boutsis 19.30 hours at $185.00/hr 3,570.50 Total hours: 37.30 6,900.50 10/28/2008 Disbursements incurred - 3.0% 207.02 Payments and Credits 10/5/2008 Check No.: 62981 1,410.07 10/29/2008 Check No.: 63307 1,413.52 2,823.59 For Professional Services 6,900.50 For Disbursements Incurred 207.02 Current Balance: 7,107.52 Previous Balance: .2,823.59 Payments - Thank you 2,823.59 Total Due 7,107.52 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 1.50 per month will be charged if payment is not received within 30 days. om%olli k 2001 Making our Neighborhood o Great Place to Live, Work and Play" To: Honorable Ch - ' n SMCRAB% d Members From: StepheniDavid, SMCRf A Direct i Date: November 10, 2008 ITEM No. VS AUTHORIZATION TO SEEK THE SERVICES OFA PROFESSIONAL REALTOR TO REPRESENT THE SMCRA A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO LAND ACQUISITION; AUTHORIZING THE SMCRA DIRECTOR TO SEEK THE SERVICES OF A PROFESSIONAL REALTOR TO ` REPRESENT THE SMCRA DURING ALL PROPERTY PURCHASES IN WHICH A REALTOR REPRESENTS THE PROPERTY OWNER OF RECORD; AND PROVIDING AN EFFECTIVE DATE BACKGROUND During the October 13, 2008 Meeting staff was provided direction to seek the services of an independent realtor to represent the SMCRA during all property purchases in which a realtor is also representing the interests of the property owner. Staff subsequently attempted to arrange a special meeting called by the SMCRA Chair to authorize the issuance of a RFQ for realty services. However since the previous regular meeting, staff has been unable to obtain a quorum for a special meeting to hear the item. Based on direction provided during the October 131h Meeting, staff obtained the following three names of professional realtors who have experience with municipalities and have received positive reference checks from the Department of Professional Business Regulations (Exhibit A, B and C): 1. Brickell Village Realty Incorporated 7301 SW 57th Court Suite 420 South Miami, FL 33143 2. Adamo Realty Network LLC 100 NE 84 St; Suite 150 Miami, FL 33138 3. Olde Town International Realty 6165 Miami Lakes Drive Miami Lakes, FL 33014 In an effort to maintain a high level of professionalism regarding all future SMCRA property transactions, it would at the Board's discretion whether to solicit the services of any one of the above listed realty firms or whether to issue a request for qualifications for independent SMCRA realty services. Attachments: Department of Professional Business Regulation License Information for Firm 91, 2 and 3 SD /MCGRUFF \PLANNING \CRA \Authorization to Seek the Services of an Independent Realtor.doc I RESOLUTION NO. 2 3 4 A RESOLUTION OF THE CITY OF SOUTH MIAMI 5 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 6 RELATING TO LAND ACQUISITION; AUTHORIZING THE 7 SMCRA DIRECTOR TO SEEK THE SERVICES OF A 8 PROFESSIONAL REALTOR TO REPRESENT THE SMCRA 9 DURING ALL PROPERTY PURCHASES IN WHICH A 10 REALTOR REPRESENTS THE PROPERTY OWNER OF 11 RECORD; AND PROVIDING AN EFFECTIVE DATE. 12 13 WHEREAS, according to the South Miami Community Redevelopment 14 Agency Adopted Plan, the Agency shall identify presently underutilized sites with 15 high redevelopment potential for consideration of acquisition and the packaging of 16 RFP's to stimulate redevelopment interest: and 17 18 WHEREAS, during the October 13, 2008 Meeting, the Board discussed the 19 possible purchase of blighted properties in order to facilitate future redevelopment 20 opportunities; and, 21 22 WHEREAS, also during the October 13t` Meeting, the Board discussed the 23 possibility of hiring a professional realtor to represent SMCRA during all future 24 property purchases in which a secondary realtor is representing the property owner; 25 and, 26 27 WHEREAS, for this purpose, staff has obtained the names of the following 28 professional realtors who have prior experience working with municipal governments 29 and have received positive background checks through the Department of 30 Professional Regulations: 31 32 1. Brickell Village Realty Incorporated 33 7301 SW 57th Court Suite 420 11 South Miami, FL 33143 36 2. Adamo Realty Network LLC 37 100 NE 84 St; Suite 150 39 Miami, FL 33138 40 3. Olde Town International Realty 41 6165 Miami Lakes Drive 42 Miami Lakes, FL 33014 43 Page 1 of 2 1 2 4 5 6 7 4 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 WHEREAS, the Board desires to retain the services of a professional realtor to advise the SMCRA during future property purchases in which a realtor is representing the seller and property owner of record. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Board authorizes the SMCRA Director to obtain the professional realty services of for the purpose of representing the SMCRA during all future property purchases in which a secondary realtor is representing the property owner. 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 November, 2008. V9 74104 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 Wiscombe: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: DBPR - BRICKELL VILLAGE REALTY INC; Doing Business As: SEVENTHE REAL ESTATE, Re. EXHIBIT A Flofida Departments Busi n Profess[&" Regulation Loa On n' Public Services Search for a Licensee Apply for a License View Application Status Apply to Retake Exam Find Exam Information File a Complaint AB &T Delinquent Invoice & Activity List Search ZO User Services Renew a License Change License Status Maintain Account Change My Address View Messages Change My PIN , View Continuing Ed I fj)Term Glossary Online Help (FAQs) i r ` �'" * Licensee Details Licensee Information 7:09:59 PM 1116120081 Name: BRICKELL VILLAGE REALTY INC (Primary Name) SEVENTHE REAL ESTATE (SBA Name) Main Address: 7301 SW 57TH COURT STE 420 MIAMI Florida 33134 County: DADE License Mailing: Licensel-ocation: 7301 SW 57TH COURT SUITE #420 SOUTH MIAMI FL 33143 County: DADE License Information License Type: Rank: License Number: Status: Licensure Date: Expires: Real Estate Corporation RE Corp. CQ1013180 Current,Active 08/06/2001 03/31/2010 Special Qualification Effective. Qualifications . View Related License Information View License Complaint Terms of Use I I Privacy Statement https:// www. myfloridalicense .com/LicenseDetail .asp ?SID= &id =B4943 CD577943E252CC6F 1 B29EE40702 1.1/6/2008 DBPR - ADAMO REALTY NETWORK LLC, Real Estate Corporation AIo Ma pepartrnento' BusineS R1 Professilxr Regulation Log On Public Services Search for a Licensee Apply for a License View Application Status Apply to Retake Exam Find Exam Information File a Complaint AB &T Delinquent Invoice & Activity List Search 4 User Services Renew a License Change License Status Maintain Account Change My Address View Messages Change My PIN View Continuing Ed (�} Term Glossary Online Help (FAQs) Home I Help I Site Map EXHIBIT B 7:11:01 PM 111612008 Licensee Details Licensee Information Name: ADAMO REALTY NETWORK LLC (Primary Name) (DBA Name) Main Address: 100 NE 84TH STREET #150 MIAMI Florida 33138 County: DADE License Mailing: Licensel-ocation County: License Information License Type: Rank: License Number: Status: Licensure Date: Expires: Special Qualifications 100 NE 84TH STREET #150 MIAMI FL 33138 DADE Real Estate Corporation RE Corp. CQ1020354 Current,Active 09/10/2004 03/31/2009 Qualification Effective View Related License Information View License Complaint I Terms of Use I I Privacy Statement I https:// www. myfloridalicense .com/LicenseDetail. asp? SID= &id= 53254278E53F703 91 BOE40992C45E2D7 11/6/2008 DBPR - OLDE TOWNE INTERNATIONAL REALTY INC, Real Estate Corporation Florida Npart nt-a Rusines Professi Regulation Loa On n' Public Services Search for a Licensee Apply for a License View Application Status Apply to Retake Exam Find Exam Information File a Complaint AB &T Delinquent Invoice & Activity List Search nl User Services Renew a License Change License Status Maintain Account Change My Address View Messages Change My PIN View Continuing Ed I ifl) Term Glossary Online Help (FAQs) N L I N E Home I Help I Site Map Licensee Details Licensee Information t EXHIBIT C L- ,.- -- - - 7:12:19 PM 111612008 11 Name: OLDE TOWNE INTERNATIONAL REALTY INC (Primary Name) (DBA Name) Main Address: 6165 MIAMI LAKES DRIVE MIAMI LAKES Florida 33014 County: DADE License Mailing: Licensel-ocation County: License Information License Type: Rank: License Number: Status: Licensure Date: Expires: Special Qualifications 6165 MIAMI LAKES DRIVE MIAMI LAKES FL 33014 DADE Real Estate Corporation RE Corp. CQ1005038 Current,Active 04/12/1996 03/31/2009 Qualification Effective View Related License Information View License Complaint Terms of Use I I Privacy Statement https:// www. myfloridalicense .comlLicenseDetail. asp? SID=& id= D36AE692FBE3417690633655B3C28BOC 11/6/2008 To: Honorable Chair SMCRA BoarO From: Stephen SMCRA 2001 Making our Neighborhood a Great Place to Live, Work and Ploy,' Date: November 10, 2008 ITEM No. (9 JAMES T. BOWMANPROPOSED SCHOLARSHIP CRITERIA A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO ANNUAL SCHOLARSHIP FUNDING; AUTHORIZING THE APPROVAL OF SPECIFIC CRITERIA AND ELIGIBILITY REQUIREMENTS FOR THE JAMES T. BOWMAN SCHOLARSHIP PROGRAM; AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the August 11, 2008 Meeting, the Board approved 07/08 funding for seven individual scholarship applicants. During the meeting several proposed criteria were suggested by the Board for future incorporation in the program. During prior fiscal years funding was awarded predominantly based on the Board's discretion. During the 08/09 Budget approval process, the Board approved a total James T. Bowman funding allocation of $11,000. Based on direction provided during the August Meeting, the following criteria and eligibility requirements were suggested by Board Member L. Williams (Exhibit A): Proposed Program Eligibility and Application Requirements a) The scholarship program announcement shall be advertised annually on May 1St with a deadline submittal date of June 30th. If either of the two dates falls on a holiday or weekend, the next business day shall apply to either the May 1St advertising date or June 30th submission deadline. b) The SMCRA scholarship application package shall include a current map of the SMCRA area for the purposes of determining area applicant residency. c) The SMCRA scholarship application package shall include an avidavit which shall be completed by the applicant to formal certify applicant residency in the SMCRA area. Scholarship awardees shall be required to return all monies received if residency information is subsequently determined to be inaccurate. Program applicants shall also be required to verify area residency by submitting one of the following documents: A current rental lease agreement; property deed indicating ownership; parental tax return indicating applicant as dependent; sealed letter of address verification from a recently graduated high school for freshman or address verification from an attending college for sophomore, juniors and seniors or a Florida Power & Liaht billing statement accompanied by a swore affidavit from applicant verifying their permanent address of residency. d) The S-MCRA scholarship application package shall include information regarding the opportunity for eligible applicants to obtain possibly community service hours through City of South Miami Human Resources Department. e) Program applicants shall also be required to demonstrate that they have maintained a 2.0 grade point average during the completed high school year or during prior year college enrollment. Approval of the attached resolution shall authorize incorporation of the aforementioned program criteria and eligibility requirements into the annual James T. Bowman Scholarship Program. RECOMMENDATION Staff recommends approval of . the attached resolution authorizing the above referenced program criteria and eligibility requirements for the James T. Bowman Scholarship Program. Attachments: Draft Resolution Program Eligibility and Application Requirements SD/MCGRUMPLANNIN&CRAVames T. Bowman Annual Scholorship Criteria.doc 1 RESOLUTION NO. 2 3 4 A RESOLUTION OF THE CITY OF SOUTH MIAMI 5 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 6 RELATING TO ANNUAL SCHOLARSHIP FUNDING; 7 AUTHORIZING THE APPROVAL OF SPECIFIC CRITERIA 8 AND ELIGIBILITY REQUIREMENTS FOR THE JAMES T. 9 BOWMAN SCHOLARSHIP PROGRAM; AND PROVIDING 10 AN EFFECTIVE DATE. 11 12 13 WHEREAS, during the August 11, 2008 Meeting, the Board approved 07/08 14 funding for seven individual scholarship applicants and suggested specific program 15 criteria for future incorporation in the scholarship program; and, 16 17 WHEREAS, in prior fiscal years awarding of James T. Bowman scholarship 18 funding was predominantly decided at the Board's discretion only; and, 19 20 WHEREAS, during the 08/091 approval process, the Board approved a 21 total James T. Bowman funding allocation of $11,000; and 22 23 WHEREAS, the following proposed criteria and eligibility requirements were 24 subsequently submitted by Board Member L. Williams: 25 26 a) The scholarship program announcement shall be advertised annually on May 27 1St with a deadline submittal date of June 30th . If either of the two dates falls 28 on a holiday or weekend, the next business day shall apply to either the May 29 1" advertising date or June 30th submission deadline. 30 31 b) The SMCRA scholarship application package shall include a current map of 32 the SMCRA area for the purposes of determining area applicant residency. 33 34 c) The SMCRA scholarship application package shall include an affidavit which 35 shall be completed by the applicant to formal certify applicant residency in the 36 SMCRA area. Scholarship awardees shall be required to return all monies 37 received if residency information is subsequently determined to be inaccurate. 38 39 Program applicants shall also be required to verify area residency by 40 submitting one of the following documents: A current rental lease agreement; 41 property deed indicating ownership; parental tax return indicating applicant as 42 dependent; sealed letter of address verification from a recently graduated high 43 school for freshman or address verification from an attending college for 44 sophomore, juniors and seniors. 45 Page 1 of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 10 9 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 d) The SMCRA scholarship* application package shall include information regarding the opportunity for eligible applicants to obtain possibly community service hours through City of South Miami Human Resources Department. e) Program applicants shall also be required to demonstrate that they have maintained a 2.0 grade point average during the completed high school year or during prior year college enrollment; and WHEREAS, the Board desires to encourage fairness and equability as part of the implementation of all SMCRA administered programs. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Board authorizes approval of the SMCRA sponsored James T. Bowman Scholarship Program criteria and eligibility requirements which are attached as Exhibit A. 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 November, 2008. :_" ` • 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 R. Williams: Board Member L. Williams: EXHIBIT A Program Eligibility and Application Requirements: a) The scholarship program announcement shall be advertised annually on May 1St with a deadline submittal date of June 30th. If either of the two dates falls on a holiday or weekend, the next business day shall apply to either the May 1 St advertising date or June 30th submission deadline. b) The SMCRA scholarship application package shall include a current map of the SMCRA area for the purposes of determining area applicant residency. c) The SMCRA scholarship application package shall include an avidavit which shall be completed by the applicant to formal certify applicant residency in the SMCRA area. Scholarship awardees shall be required to return all monies received if residency information is subsequently determined to be inaccurate. Program applicants shall also be required to verify area residency by submitting one of the following documents: A current rental lease agreement; property deed indicating ownership; parental tax return indicating applicant as dependent; sealed letter of address verification from a recently graduated high school for freshman or address verification from an attending college for sophomore, juniors and seniors. d) The SMCRA scholarship application package shall include information regarding the opportunity for eligible applicants to obtain possibly community service hours through City of South Miami Human Resources Department. e) Program applicants shall also be required to demonstrate that they have maintained a 2.0 grade point average during the completed high school year or during prior year college enrollment. November 10, 2008 4AM%011LJ4 2001 "Waking our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and SMCRA Board' ember From: Stephen David, SMCRA Direct Date: November 10, 2008 ITEM No. PROPERTY CONVEYANCE OF SMCRA OWNED PROPERTY FOR AFFORDABLE HOUSING DEVELOPMENT A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO AFFORDABLE HOUSING DEVELOPMENT; AUTHORIZING THE SMCRA DIRECTOR TO CONVEY SMCRA OWNED PROPERTY LOCATED AT 6082 SW 63RD STREET TO HABITAT FOR HUMANITY FOR THE PURPOSE OF CONSTRUCTING ONE AFFORDABLE SINGLE - FAMILY HOME; AND PROVIDING AN EFFECTIVE DATE BACKGROUND During the May 12, 2008 Meeting, the Board authorized the SMCRA to enter into contract to purchase one undersized, half lot located at 6082 SW 63`d Street (Exhibit A) for a total contract amount of $20,000 with the potential future intent to convey the property to the adjacent property owner, Habitat for Humanity for the purpose of constructing and selling one single - family affordable home. On September 29, 2008, the SMCRA received the official property deed for the undersized lot and now seeks to convey the property to Habitat for Humanity for the purpose of constructing one affordable single family home. Attached as Exhibit B is the draft conveyance agreement between the SMCRA and Habitat for Humanity for the construction and sale of the home. Approval of the attached resolution shall authorize the SMCRA Director to enter into the attached conveyance agreement for the purpose of constructing one affordable home. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director to enter into the attached conveyance agreement for the purpose conveying SMCRA owned property located at 6082 SW 63`d Street to Habitat for Humanity for the construction of one affordable home. Attachments: Draft Resolution Property Description — 6082 SW 63d Street Draft Conveyance Agreement SD/MCGRUFF \PLANNING \CRA \Property Conveyance of 6082 SW 63d Street.doc I RESOLUTION NO. 2 3 4 A RESOLUTION OF THE CITY OF SOUTH MIAMI 5 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 6 RELATING TO AFFORDABLE HOUSING DEVELOPMENT; 7 AUTHORIZING THE SMCRA DIRECTOR TO CONVEY 8 SMCRA OWNED PROPERTY LOCATED AT.6082 SW 63RD 9 STREET TO HABITAT FOR HUMANITY FOR THE 10 PURPOSE OF CONSTRUCTING ONE AFFORDABLE 11 SINGLE - FAMILY HOME; AND PROVIDING AN EFFECTIVE 12 DATE. 13 14 15 WHEREAS, during the May 12, 2008 Meeting, the Board authorized the 16 SMCRA to enter into contract to purchase one undersized, half lot located at 6082 17 SW 63rd Street for a total contract amount of $20,000 with the potential future intent 18 to convey the property to the adjacent property owner, Habitat for Humanity for the 19 purpose of constructing and selling one single - family affordable home; and, 20 21 WHEREAS, on September 29, 2008, the SMCRA received the official 22 property deed for the above referenced property and at this time seeks to convey the 23 property to Habitat for Humanity for the purpose of constructing one affordable 24 single family home; and, 25 26 WHEREAS, the SMCRA desires to facilitate additional affordable housing 27 opportunities within the SMCRA District and for this purpose seeks to convey 28 SMCRA owned property for the purpose of constructing one affordable single- family 29 home. 30 31 NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI 32 COMMUNITY REDEVELOPMENT AGENCY: 33 34 35 Section 1. The SMCRA Board authorizes SMCRA Director to enter into 36 the conveyance agreement attached as Exhibit B for the purpose conveying SMCRA 37 owned property located at 6082 SW 63rd Street to Habitat for Humanity for the 14 purpose of constructing one affordable single - family home. 40 41 Section 2. This resolution shall take effect immediately upon approval. 42 43 44 45 PASSED AND ADOPTED this day of November, 2008. Page 1 of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 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 Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: Miami -Dade My Home My Home . . • ` • • Show Me: Property Information ; Search By: Select Item Text only Property Appraiser Tax Estimator Summary Details: Folio No.: 9 -4025- 010 -0770 Property: 082 SW 63 ST Mailing SOUTH MIA COMMUNITY Address: REDEVE AGENCY $0 130 SUNSET DR S MIAMI Livin Unit s: FL d' S Footage: 33143- Prnnarty Infnrmation: Sale Infnrmation: Sale O /R: 0100 SINGLE FAMILY : RESIDENCE EBeds/Baths: 0081 VACANT LAND 0/0 $0 0 Livin Unit s: 0 d' S Footage: 0 Lot Size: 2,250 SQ FT Year Built: 0 FRANKLIN SUB PB 5 -34 1/2 OF LOT 83 LESS Legal N1OFT BLK 13 LOT SIZE Description: 5.000 X 90 OR 16546- [26529-4619/4620 468 1094 4 COC 0708 4 Sale Infnrmation: Sale O /R: 6529 -4619 Sale Date: 7/2008 Sale Amount: 0 Assessment Information: Year: 2008 2007 Land Value: $59,593 $59,593 Building Value: $0 $0 Market Value: $59,593 $59,593 Assessed Value: $59,593 $59,593 TaxahlP Value Information: Year: 2008 2007 Taxing Authority: Applied Exemption/ Taxable Value: Applied Exemption/ Taxable Value: Regional: $0/$59,593 $0/$59,593 County: $0/$59,593 1 $0/$59,593 City: $0/$59,593 1 $0/$59,593 School Board: 1 $0/$59,593 1 $0/$59,593 Digital Orthophotography - 2007 0 - 109 ft My Home I Property Information I Properly Taxes I My Neighborhood I Properly Appraiser Home I Using Our Site I About I Phone Directory I Privacy I Disclaimer If you experience technical difficulties with the Property Information application, or wish to send us your comments, questions or suggestions please email us at Webmaster. Additional Information: Click here to see more information for this ro e Community Development District http://gisims2.miamidade.gov/myhome/propmap.asp Web Site © 2002 Miami -Dade County. All rights reserved. EXHIBIT A MIAMI- Legend Property Boundary Selected N Property *^/ Street Highway Miami -Dade County . Water N W E S 11/5/2008 EXHIBIT B AGREEMENT BETWEEN THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY AND HABITAT FOR HUMANITY OF GREATER MIAMI, INC. FOR THE PROPERTY CONVEYANCE OF ONE COMMUNITY REDEVELOPMENT AGENCY OWNED HOUSING LOT FOR THE DEVELOPMENT OF ONE AFFORDABLE HOME THIS AGREEMENT ( "Agreement ") is entered into this _ day of November, 2008 between Habitat for Humanity of Greater Miami, Inc., a Florida not - for- profit corporation (Contractor) whose address is: P.O. Box 560994, Miami Florida and the City of South Miami Community Redevelopment Agency (Agency), whose address is 6130 Sunset Drive, South Miami, Florida 33143. WITNESSETH: WHEREAS, the Agency has allocated certain property to be provided to non - profits to construct affordable single family owner occupied new homes in the Agency's Redevelopment Area (the Project); and WHEREAS, the Agency and Contractor have agreed to perform the Project in accordance with the Agency's specifications; and WHEREAS, it is acknowledged and agreed between the Agency and the Contractor that the property to be provided must be used for the purposes referred to in this Agreement; and WHEREAS, in connection with the performance of this Agreement, the parties have agreed to comply with all applicable provisions of Federal, State and local laws, statutes, rules and regulations as they may apply to this Agreement. NOW, THEREFORE, in consideration of the mutual promises and in consideration of $10.00 and other good and valuable consideration which are to be paid by Agency, the receipt and sufficiency of which are acknowledged, the parties agree as follows: Section 1. The following documents shall comprise the Agreement between the parties and shall constitute collectively the "Contract Documents ": a) This Agreement; b) Warranty deed found at Exhibit IA; and c) Performance Bond found at Exhibit 1B. Section 2. The Agency agrees to provide to the Contractor with title to specific land identified in the attached Exhibit 1A, provided Contractor construct and provide a single family home for an affordable housing recipient in accordance with the bylaws and requirements of Contractor's nonprofit program. The Agency shall transfer title to the lot to the Contractor in accordance with Exhibit 1A, the warranty deed. Failure of Contractor to meet the deadline set forth in this agreement and warranty deed shall provide the Agency the right to cause Contractor to reconvey the lot for the specific home under construction. Section 3. This Agreement shall terminate in one (1) year. Upon the expiration of this Agreement any land provided to Contractor that has not constructed a single - family home in compliance with Contractor's program shall be returned to the Agency so as to be made available for other Agency affordable housing projects. Contractor agrees to use best efforts to complete the Project within one (1) year of the date of this Agreement. In the event the Project is not completed within this time frame, and this Agreement is not extended accordingly, this Agreement shall terminate without any liability to the Agency. The Contractor shall re- conveyance of the property shall occur as permitted under the warranty deed and as provided for in this agreement. Additionally, the Agency may seek enforcement of the performance guaranty, which is attached as Exhibit 1B. Section 4. The Project shall be performed in accordance with the applicable codes, ordinances and statutes of the State of Florida, the City of South Miami and Miami -Dade County. Section 5. Any amendments, alterations, or variations to this Agreement will only be valid when they have been reduced to writing and duly signed by the parties. Section 6. The Agency desires to enter into this agreement only if in so doing the Agency can place a limit on the Agency's liability for any cause of action arising out of this agreement, so that its liability never exceeds its maximum potential monetary contribution of the current tax assessor's valuation of the property. The Contractor expresses its willingness to enter into this Agreement with recovery from the Agency for any action arising out of this Agreement to be limited to the value of the property provided by the Agency, and /or the return of the property in substantially the same condition as provided to Contractor. Accordingly, the Contractor agrees that the Agency shall not be liable for any claim or damage in connection with the Project in excess of the Agency's maximum potential monetary contribution as provided under this Agreement, for any action or claim arising out of this Agreement. Nothing contained in this paragraph or elsewhere in this Agreement is in any way intended to be a waiver of the limitation placed on the Agency's liability as set forth in Chapter 768, Florida Statutes. Additionally, the Agency does not waive sovereign immunity, and no claim or award against the City shall include attorney's fees, investigative costs or pre judgment interest. Section 7. After any payment is made by the Agency and applied according to the requirements set forth, the Agency shall be automatically discharged from any and all obligations, liabilities and commitments to Contractor or any third person or entity provided, however, that this Section shall not excuse the continued compliance by Contractor with the terms of this Agreement and the program requirements. 2 Section 8. The Agency may withhold, in whole or in part, final payment or any progress payment to such extent as may be necessary to protect itself from loss on account of matters including but not limited to the following: a) Claims of lien against the Contractor regarding the Project, provided such liens are not bonded off as allowed by law. b) Failure of the Contractor to make payment(s) to subcontractors or suppliers for materials or labor regarding the Project. d) Reasonable evidence that any portion of the Project cannot be completed for the unpaid balance of the agreed compensation. d) Failure to carry out any portion of the Project in accordance with the Contract Documents. e) Failure by Contractor to complete the single family home and receive final certificates of occupancy within two years of execution of this agreement. Section 9. In the event of a termination by the Agency, the Agency shall additionally be entitled to bring any and all legal and /or equitable actions in Miami -Dade County, Florida, in order to enforce the Agency's right and remedies against the Contractor. The Agency shall be entitled to recover all costs of such actions including a reasonable attorney's fee, at trial and appellate levels, to the extent allowed by law. In the event any suit or legal proceeding is brought for the enforcement of any provision of this Agreement, the parties agree that the prevailing party or parties shall be entitled to recover from the other party or parties upon final judgment reasonable attorneys' fees, including attorneys' fees for any appeal, and costs incurred in bringing the suit or proceeding. Any action arising out of this Agreement shall be brought in Miami -Dade County, Florida, and shall be subject to Florida law. Section 10. Contractor agrees to use best efforts to complete the Project prior to the end of two calendar years. In the event the Project is not completed within this time frame, and this Agreement is not extended accordingly, this Agreement shall terminate and the property shall be returned by Contractor to Agency. Section 11, Representations and Covenants. Contractor hereby represents and warrants to the Agency the following: (i) Contractor is a corporation duly organized, validly existing and in good standing under the laws of the State of Florida. There are no proceedings or actions pending, threatened or contemplated for the liquidation, termination or dissolution of Contractor. (ii) Contractor shall apply for construction permits within 90 days from the effective date of this Agreement. 3 (iii) Contractor covenants and agrees that it shall cause the Properties to be developed in accordance with the building plans that are to comply with the City's Code and are to approved by the South Miami Building Department. (iv) Contractor shall complete construction of the home within a year of receipt of the building permits. (iv) Contractor covenants and agrees that the Property shall be sold to the affordable housing applicants and according to the guidelines established in this document. In the event an applicant no longer qualify as low income home buyers under Habitat's affordable housing program, Contractor covenants and agrees to sell the properties to other low income qualified home buyers selected by the Agency and Habitat who qualify for affordable housing loan programs and who otherwise cannot afford to rent or buy houses generally available on the open market. (v) Upon transfer of the warranty deed to Contractor, Contractor agrees that any sale of the property shall be to an affordable housing purchaser, and the purchasers shall be obligated to comply with the Agency deed restriction requiring the property to be purchased by an affordable housing purchaser, and any sale of the property over the next 15 years shall require sale to a subsequent affordable housing purchaser as defined by Habitat, U.S. HUD guidelines and the Agency guidelines. This provision shall survive termination of the agreement. Section 12. Termination Without Cause. The agency is conveying the Property to Contractor as part of the Agency's program to produce residential property within the City of South Miami Community Redevelopment Agency. As part of the consideration for transfer of the Property, Buyer has agreed to build an affordable housing (per HUD guidelines), single family residence on the Property and to obtain a certificate of occupancy ( "CO ") for the residence within two years of the effective date of this Agreement. The Contractor shall be entitled to obtain one extension of time, for a four month extension to complete construction. The request will not be unreasonably denied by the Agency. In the event the Contractor fails to construct a residence and obtain the required CO within the time required by this Agreement, the Agency shall have the right, but not the obligation, to cause Contractor to re- convey the Property to the Agency, subject to any encumbrances against the Property filed by a third -party that has provided financing in connection with the development of the Property, for an amount equal to the tax assessed value of the property. The Contractor shall re- convey the marketable title to the Property only to the exceptions contained in the title policy issued to the Contractor upon its receipt of the Property. If for any reason Contractor fails, neglects or refuses to re- convey the Property, the Agency may seek specific. performance to obtain the re- conveyance of the Property. In case of the failure of Contractor to perform any of the covenants in this Agreement, at the option of the Agency, this Agreement shall be forfeited and terminated, and Contractor shall forfeit any and all claims to the Property and execute a reverter agreement, reverting title to the property to the Agency. Contractor shall have no right or claim for reimbursement for any expenditures incurred for the improvements made to the Property. All improvements made under this agreement shall be retained by the Agency in full satisfaction and liquidation of all damages sustained by the Agency, and the Agency shall have the right to reenter and take possession of the premises and seek such self -help remedies as shall place the Agency in exclusive possession of the premises to enforce the reverter clause provided for in this agreement and warranty deed. This provision shall survive the closing and transfer of title to Contractor. 11 Section 13. Right to Reenter and take possession of the Properties. Agency has the right, at its election to take possession of the Property with all improvements thereon and terminate the Agreement if Contractor: (i) fails to start construction within 90 days from the date the construction permits are issued. abandons or substantially suspends construction for a period of 90 days. fails to cure a violation of the Agreement within 30 days after receipt of notice to cure from Agency (iv) fails to obtain a building permit with 90 days after the effective date of this Agreement. (v) Fails to complete construction within year of receipt of the construction permits. Section 14. Risk of Loss. Risk of loss by fire or other casualty shall be Contractor's and Contractor agrees to maintain adequate insurance for a sum not less than the full replacement value. Contractor shall not commence work under this Agreement until it has obtained and submitted proof of all insurance required by the Agency. Section 15. Force Majeure. Neither party shall hold the other responsible for damages or for delays in performance caused by force majeure, acts of God, or other acts or circumstances beyond the control of a party or that could not have been reasonably foreseen and prevented. For this purpose, such acts or circumstances shall include, but not be limited to, weather conditions affecting performance, floods, epidemics, war, riots, strikes, lockouts, or other industrial disturbances, or protest demonstrations. Should such acts or circumstances occur, the parties shall use their best efforts to overcome the difficulties and to resume the work as soon as reasonably possible. Section 16. Independent Contractor. Contractor, its employees and agents shall be deemed independent contractors and not agents or employees of Agency, and shall not attain any rights or benefits generally afforded Agency employees. Section 17. All notices, demands, correspondence and communications between the Agency and Contractor shall be deemed sufficiently given under the terms of this Agreement if dispatched by registered or certified mail, postage prepaid, return receipt requested, addressed as follows: If to the Agency: Director, Stephen David South Miami Community Redevelopment Agency 6130 Sunset Drive Miami, Florida 33143 G If to Contractor: Habitat for Humanity of Greater Miami, Inc. P.O. Box 560994 Miami, FL 33156 Section 18. It is agreed that Contractor will require any buyer to record a purchase money mortgage and shared - appreciation mortgage loan note satisfactory to the Contractor and Agency and enforceable by the Contractor and Agency, which will require that the property with the constructed home listed on Attachment "A" is sold all such new purchasers and occupants shall satisfy the standards for ownership or . occupancy adopted by the Contractor for the development of homes and by the Agency, which shall ensure that subsequent purchasers are affordable housing qualified homeowners. Section 19. The Contractor agrees to maintain books, records, documents and other evidence pertaining to all costs and expenses incurred and revenues acquired under this Agreement to the extent and in such detail as required by the Agency. The books and accounts, files and other records of the Contractor, which are applicable to this Agreement, shall be available for inspection, review and audit by the Agency and its representatives to determine the proper application and use of all funds paid to or for the account or the benefit of the Contractor. Section 20. Contractor shall indemnify, defend, save and hold harmless the Agency, its officers, agents and employees, from or on account of all claims, damages, losses, liabilities and expenses, direct, indirect or consequential including, but not limited to, fees and charges of purchasers, engineers, architects, attorneys, consultants and other professionals and court costs arising out of or in consequence of the performance of this Agreement at all trial and appellate levels. Indemnification shall specifically include, but not limited to, claims, damages, losses, liabilities and expenses arising out of or from (a) the negligent or defective design of the Project and work of the Contractor; (b) any negligent act or omission of the Contractor, its subcontractors, agents servants or employees, (c) any damages, liabilities, or losses received or sustained by any person or persons during or on account of any negligent operations by Contractor connected with the construction of this Project; (d) the use of any improper materials; (e) any construction defect including both patent and latent defects; (f) failure to timely complete the work; (g) the violation of any federal, state, or county or city laws, ordinances or regulations by Contractor, its subcontractors, agents, servants, independent contractors or employees; (h) the breach or alleged breach by Contractor of any term of this Agreement. Section 21. Neither party shall assign its interest in this Agreement without express written consent of the other party. Any violation of this provision shall constitute default in the Agreement. Section 22. The Contractor (or successor in interest), shall pay the real estate taxes or assessments on the property or any part thereof when due. Contractor shall not suffer any levy or attachment to be made, or any material or mechanic's lien, or any unauthorized encumbrance or lien to attach except: I a. Any mortgage(s) in favor or any institutional lender for the purpose of financing any hard costs or soft costs relating to the construction of the Improvements in an amount(s) not to exceed the value of the Improvements as determined by an appraiser; and b. Any mortgage(s) in favor of any institutional lender refinancing any mortgage of the character described in clause (a) hereof, in an amount(s) not to exceed the value of the Improvements as determined by an appraiser; and C. The recordation, together with any mortgage purporting to meet the requirements of clauses (a) or (b) above, of a statement of value by a Member of American Institute of Real Estate Appraisers ( "MAP'), (or member of any similar or successor organization), stating the value of the Improvements is equal to or greater than the amount of such mortgage(s), shall constitute conclusive evidence that such mortgage meets such requirements, and that the right of any reentry hereunder shall be subject to and limited by, and shall not defeat, render invalid, or limit in any way, the lien of such mortgage. For purposes of this paragraph an "institutional lender" shall mean any bank, savings and loan association, insurance company, foundation or other charitable entity, real estate or mortgage investment trust, pension funds, the Federal National Mortgage Association, agency of the United States Government or other governmental agency. Section 22. Severability. If any provision or provisions of this agreement shall to any extent be invalid or unenforceable, the remainder of this agreement shall not be affected thereby and the remaining provisions shall be valid and enforceable to the fullest extent. Section 23. Miscellaneous Provision. In the event a court must interpret any word or provision of this agreement, the word or provision shall not be construed against either party by reason of drafting or negotiating this agreement. Section 24. Inspection. Agency may make or cause to be made reasonable entries upon and inspections of the Properties. Section 25. The Contractor agrees for itself, its successors and assigns, to or of the property or any part thereof, that the Contractor and such successors or assigns shall: Not discriminate upon the basis of race, color, religion, sex or national origin in the sale, lease or rental or in the use or occupancy of the property or any Improvements erected or to be erected hereon or on any part thereof; and this covenant shall be binding to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by the Agency, its successors and assigns, and any successor in interest to the property, or any part thereof. The Agency shall have the right in the event of any breach of any such covenants, to exercise all the rights and remedies and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breach of covenant, to which it or any other beneficiaries of such covenant may be entitled. 7 IN WITNESS WHEREOF, the Agency and Contractor have caused this Agreement to be executed the day and year first above written. WITNESS: APPROVED AS TO FORM: Habitat For Humanity Of Greater Miami, Inc. Name: Title: SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY Name: Stephen David Title: Director Eve A. Boutsis, Office of General Counsel Nagin Gallop Figueredo, P.A. South Miami Community Redevelopment Agency �t EXHIBIT 1A This instrument was prepared by: Eve A. Boutsis, General Counsel City of South Miami Community Redevelopment Agency c/o Nagin Gallop Figueredo, P.A. 18001 Old Cutler Road, Suite 556 Miami, Florida 33157 Property Appraisers Parcel Identification (Folio) Number: 09- 4025- 010 -0770 WARRANTY DEED THIS INDENTURE, made this day of November, 2008 between City of South Miami Community Redevelopment Agency, a community redevelopment agency of the City of South Miami, a Florida municipal corporation, whose address is 6130 Sunset Drive, South Miami, Florida 33143 (hereinafter referred to as Grantor or "SMCRA " *) and Habitat for Humanity of Greater Miami, Inc., a Florida non - profit corporation (hereinafter referred to as. Grantee or "Developer " *). WITNESSETH, that said Grantor, for and in consideration of the sum of Ten Dollars ($10.00), and other good and valuable consideration of said Grantor in hand paid by said Grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sold to said Grantee, and Grantee's heirs and assigns forever, the following described land situated, lying and being in Miami -Dade County, State of Florida, to wit: Franklin Sub PB 5 -34 W1 /2 of Lot 83 Less N10 Ft Blk 13 Lot Size 25.00 X 90 OR 16546 -3468 1094 4 COC 26529- 4619/4620 0708 4 of the Public Records of Miami -Dade County, commonly known as 6082 S.W. 63rd Street, South Miami, Florida. [Folio No.: 09- 4025- 010 -0770] Page 1 of 7 THIS CONVEYANCE IS MADE SUBJECT TO conditions, restrictions, limitations, and easements of record, if any; but any such interests that may have been terminated are not hereby re- imposed; and subject to applicable zoning ordinances, taxes and assessments for the year 2008 and subsequent years. THIS CONVEYANCE IS ALSO MADE SUBJECT TO the following covenants running with the land, and setting forth the right of reentry, to wit: 1. The Developer will commence work on the property transferred under this Deed [Folio Number 09- 4025- 010 -0770] for the development of a single - family home for affordable housing purposes (hereinafter to be known as "the Improvements "). The Developer shall be responsible for the review and selection, of low income applicant home buyers in accordance with all applicable Federal, State and County and local law. However, the Developer shall prioritize applicants as follows: a. South Miami Community Redevelopment Agency residents; b. City of South Miami Role Models, as defined by the South Miami Community Redevelopment Agency's Role Model Program, which program is incorporated by reference into this agreement; C. South Miami Community Redevelopment Agency Referrals; d. City of South Miami Residents; and e. General Public. The SMCRA shall have the sole discretion to resolve any conflict in the prioritization of applicants. However, the Developer shall have the right to determine the ultimate purchaser of the home in compliance with Developer's non profit purposes as provided under its bylaws and guidelines. 2. The Developer will commence work on the Improvements consisting of affordable single - family homes and complete construction not later than one year from the execution of this agreement. 3. Promptly after completion of the Improvements in accordance with approved plans and provisions of this instrument, the SMCRA shall furnish the Developer an appropriate instrument certifying to the satisfactory completion of the improvements. Such certification shall be in a form recordable in the Office of the Clerk of the Circuit Court of Miami -Dade County, Florida. Page 2 of 7 4. The Developer agrees for itself, its successors and assigns, to or of the property or any part thereof, that the Developer and such successors or assigns shall: Not discriminate upon the basis of race, color, religion, sex or national origin in the sale, lease or rental or in the use or occupancy of the property or any Improvements erected or to be erected hereon or on any part thereof, and this covenant shall be binding to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by the SMCRA, its successors and assigns, and any successor in interest to the property, or any part thereof. The SMCRA shall have the right in the event of any breach of any such covenants, to exercise all the rights and remedies and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breach of covenant, to which it or any other beneficiaries of such covenant may be entitled. 5. The Developer (or successor in interest), shall pay the real estate taxes or assessments on the property or any part thereof when due. Developer shall not suffer any levy or attachment to be made, or any material or mechanic's lien, or any unauthorized encumbrance or lien to attach except: a. Any mortgage(s) in favor or any institutional lender for the purpose of financing any hard costs or soft costs relating to the construction of the Improvements in an amount(s) not to exceed the. value of the Improvements as determined by an appraiser; and b. Any mortgage(s) in favor of any institutional lender refinancing any mortgage of the character described in clause (a) hereof, in an amount(s) not to exceed the value of the Improvements as determined by an appraiser; and C. The recordation, together with any mortgage purporting to meet the requirements of clauses (a) or (b) above, of a statement of value by a Member of American Institute of Real Estate Appraisers ( "MAI "), (or member of any similar or successor organization), stating the value of the Improvements is equal to or greater than the amount of such mortgage(s),' shall constitute conclusive evidence that such mortgage meets such requirements, and that the right of any reentry hereunder shall be subject to and limited by, and shall not defeat, render invalid, or Page 3 of 7 limit in any way, the lien of such mortgage. For purposes of this paragraph an "institutional lender" shall mean any bank, savings and loan association, insurance company, foundation or other charitable entity, real estate or mortgage investment trust, pension funds, the Federal National Mortgage Association, agency of the United States Government or other governmental agency. 6. Developer shall not transfer the property or any part thereof without consent of the SMCRA and shall not change the ownership or distribution of the stock of the Developer or with respect to the identity of the parties in control of the Developer or the degree thereof. 7. The Developer shall not transfer the property or any part thereof prior to the completion of the improvements, consisting of affordable single - family homes, and issuance of a Certificate of Completion and /or Occupancy for the homes by the proper authority for the residing jurisdiction. In addition to the warranty deeds, Grantee and any affordable housing purchaser shall be obligated to comply with an SMCRA deed restriction requiring the property to be purchased by an affordable housing purchaser, and any sale of the property over the next 15 years shall require sale to a subsequent affordable housing purchaser as defined by U.S. HUD guidelines and the SMCRA guidelines. 8. In the event the Developer shall violate or otherwise fail to comply with any of the covenants set forth herein or Schedule A attached herein, the Developer shall correct or cure the default /violation within thirty (30) days of notification of the default by the SMCRA. If Developer fails to remedy the default within thirty (30) days, the SMCRA shall have the right to reenter and take possession of the property and to terminate (and re -vest in the SMCRA) the estate conveyed by this Deed to the Developer, provided, that any such right to reentry shall always be subjected to and limited by, and shall not defeat, render invalid, or limit in any way the lien of any valid mortgage or Deed or Trust permitted by this Deed. In the event the Contractor fails to construct a residence and obtain the required CO within the time required by this deed, the Grantor shall have the right, but not the obligation, to cause Contractor to reconvey the Property to the Grantor, subject to any encumbrances against the Property filed by a third -party that has provided financing in connection with the development of the Property, for an amount equal to the tax assessed value of the property. The Contractor shall, reconvey the marketable title to the Property only to the exceptions contained in the title policy issued to the Contractor upon its receipt of the Property. If for 'any reason Contractor fails, Page 4 of 7 neglects or refuses to reconvey the Property, the Grantor may seek specific performance to obtain the reconveyance of the Property. In case of the failure of Contractor to perform any of the covenants in this deed, at the option of the Grantor, this Agreement shall be forfeited and terminated, and Contractor shall forfeit any and all claims to the Property and execute a reverter deed, reverting title to the property to the Grantor. Contractor shall have no right or claim for reimbursement for any expenditures incurred for the improvements made to the Property. All improvements made on the property shall be retained by the Grantor in full satisfaction and liquidation of all damages sustained by the Grantor, and the Grantor shall have the right to reenter and take possession of the premises and seek such self -help remedies as shall place the Grantor in exclusive possession of the premises to enforce the reverter clause provided for in this deed. This provision shall survive the closing and transfer of title to Developer. Grantor does hereby fully warrant the title to said land, and will defend the same against the lawful claims of all persons whomsoever. * "Grantor" and "Grantee" are used for singular or plural, as context requires. IN WITNESS WHEREOF, Grantor has hereunto set its hand and seal the day and year first above written. Witness Printed: Witness Printed: City of South Miami Community Redevelopment Agency an Stephen David, as Director SEAL Page 5 of 7 STATE OF FLORIDA ) ) SS COUNTY OF MIAMI -DADE ) I HEREBY CERTIFY that on this day before me, an officer duly qualified to take acknowledgments, personally appeared, Stephen David, the person described in and who executed the foregoing Warranty Deed and acknowledged before me that he executed the same, and who presented as identification the following: , and he did take an oath. WITNESS my hand and official seal in the County and State last aforesaid this day of November, 2008. Witness Printed: Witness Printed: IN Name: Notary Public Printed: Habitat for Humanity for Greater Miami Neighborhoods, Inc. SEAL Page 6 of 7 STATE OF FLORIDA ) ) SS COUNTY OF MIAMI -DADE ) I HEREBY CERTIFY that on this day before me, an officer duly qualified to take acknowledgments, personally appeared, , the person described in and who executed the foregoing Warranty Deed and acknowledged before me that he executed the same, and who presented as identification the. following: . and he did take an oath. WITNESS my hand and official seal in the County and State last aforesaid this day of November, 2008. Notary Public Printed: Page 7 of 7 EXHIBIT 1 B PERFORMANCE BOND — ATTACHMENT B KNOW ALL MEN BY THESE PRESENTS that Habitat for Humanity of Greater Miami, Inc. as Principal, hereinafter called Contractor, and , as Surety, hereinafter called Surety, are held and firmly bound unto the City of South Miami, Florida Community Redevelopment Agency, South Miami, Florida, as Obligee, hereinafter called Owner, in the amount of _ _ _ _ _ _ --- _ _ _ _ _ _ _ _ _ _ ($ ) for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, Contractor has by written agreement dated entered into a Agreement with Owner for: Contractor Agreement and Warranty deed for the construction of a low income, single family home at with a legal description of: Franklin Sub PB 5 -34 W1 /2 of Lot 83 Less N10 Ft Blk 13 Lot Size 25.00 X 90 OR 16546 -3468 1094 4 COC 26529 - 4619/4620 0708 4 of the Public Records of Miami -Dade County, commonly known as 6082 S.W. 63rd Street, South Miami, Florida. [Folio No.: 09- 4025 -010 -0770] NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounded Principal shall well and truly keep, do and perform each and every, all and singular, the matters and things in said Agreement set forth and specified to be by said Principal kept, done and performed, at the times and in the manner in said Agreement specified, or shall pay over, make good and reimburse to the above named Obligee, all loss and damage which said Obligee may sustain by reason of failure or default on the part of said Principal so to do, then this obligation shall remain in full force and effect, subject, however, to the following conditions: Any suit under this bond must be instituted before the expiration of one (1) month from the date of execution of the underlying Agreement and Warranty Deed. No right of action shall accrue on this bond to or for the use of any person or corporation other than the Obligee named herein or the heirs, executors, administrators or successors of the Obligee. IN WITNESS WHEREOF, the above bounded parties have caused this Bond to be executed by their appropriate officials of the day of November, 2008. WITNESS: CONTRACTOR Habitat for Humanity of Greater Miami, Inc. Page l of 9 i President COUNTERSIGNED BY (CORPORATE SEAL) RESIDENT FLORIDA AGENT OF SURETY: SURETY: (Copy of Agent's current License as issued by State of BY: Florida Insurance Commissioner shall be attached hereto) Page 2 of 9 CERTIFICATE AS TO CORPORATE PRINCIPAL 1, , certify that I am the Secretary of the Corporation named as Principal in the foregoing bond; that who signed the said bond on behalf of the Principal, was then of said Corporation; that I know his signature, and his signature hereto is genuine; and that said bond was duly signed, sealed, and attested for and in behalf of said Corporation by authority of its governing body. Secretary Corporate Seal ACKNOWLEDGEMENT OF ATTORNEY -IN -FACT SURETY STATE OF FLORIDA ) ss COUNTY OF ) Before me, a Notary Public, duly commissioned, qualified and acting, personally appeared , who says that he is the Attorney - i n - F act, for the (Surety) and that he has been authorized by the Surety to execute the foregoing bond on behalf of the Surety named therein in favor of the City of South Miami Community Redevelopment Agency, South Miami, Florida 33143. Said person is personally known to me, or has produced (specify type of identification, i.e., driver's license and number, state of issue, etc. and who did take an oath, or did not take an oath. WITNESS my hand and official seal, at the County and State aforesaid, on the day and year aforesaid. (Attach Power of Attorney) Notary Public State of Florida -at -Large My commission Expires: Page 3 of 9 INSURANCE REQUIREMENTS See Insurance Check List for applicability to this contract. A. The contractor shall be responsible for his work and every part thereof, and for all materials, tools, appliances and property of every description, used in connection with this particular project. He shall specifically and distinctly assume, and does so assume, all risks of damage or injury to property or persons used or employed on or in connection with the work and of all damage or injury to any person or property wherever located, resulting from any action or operation under the contract or in connection with the work. It is understood and agreed that all times the contractor is acting as an independent contractor. B. The contractor, at all times during the full duration of work under this contract, including extra work in connection with this project shall meet the following requirements: 1. Maintain Worker's Compensation and Employer's Liability Insurance to meet the statutory requirements of the State of Florida. 2. Maintain Comprehensive General Liability Insurance in amounts prescribed by the City of South Miami Community Redevelopment Agency (see checklist for limits) to protect the contractor in the interest of the City against all risks of injury to persons (including death) or damage to property wherever located resulting from any action or operation under the. contract or in connections with the work. This policy is to provide coverage for premises /operations, independent contractor, broad form property damage, products /completed operations and contractual liability. Maintain Automobile Liability Insurance including Property Damage covering all owned, non -owned or hired automobiles and equipment used in connection with the work. 4. Maintain any additional coverage's required by the Risk Manager as indicated on the Insurance Check List. Name the City of South Miami Community Redevelopment Agency as an additional insured on all liability policies required by this contract. When naming the City of South Miami Community Redevelopment Agency as an additional insured onto your policies, the insurance companies hereby agree and will endorse the policies to state that the City of South Miami Community Redevelopment Agency will not be liable for the payment of any premiums or assessments. A copy of the endorsement(s) naming the City of South Miami Community Redevelopment Agency as an additional insured is required and must be submitted to the City of South Miami Community Redevelopment Agency's. Director. 6. No charge or cancellation in insurance shall be made without thirty (30) days written notice to the City of South Miami Community Redevelopment Agency's Director. Page 4 of 9 7. All insurance policies shall be issued by companies authorized to do business under the laws of the state of Florida and these companies must have a rating of at least B +:VI or better per Best's Key Rating Guide, latest edition. 8. Original signed Certificates of Insurance, evidencing such coverage's and endorsements as required herein, shall be filed with and approved by the City of South Miami Community Redevelopment Agency's Director before work is started. Upon expiration of the required insurance, the franchisee must submit updated certificates of insurance for as long a period as any work is still in progress. 9. It is understood and agreed that all policies of insurance provided by the franchisee are primary coverage to any insurance or self - insurance the City of South Miami Community Redevelopment Agency possesses that may apply to a loss resulting from the work performed in this contract. C. The liability insurance coverage shall extend to and include the following contractual indemnity and hold harmless agreement: In addition to the coverage stated in the body of the policy, the policy shall indemnify and hold harmless the City of South Miami Community Redevelopment Agency, a municipal redevelopment agency established under Chapter 163, Fla. Stat.,- its officers, agents, and employees from all claims for bodily injuries to the public in and up to the amount of $1,000,000.00 for each occurrence and for all damages to the property of others in and up to the amount of $1,000,000.00 for each occurrence per the insurance requirement under the specifications including costs of investigation, all expenses of litigation, including reasonable attorney fees and the cost of appeals arising out of any such claims or suits because of any and all acts of omission or commission by the franchisee, his agents, servants, or employees, or through the mere existence of the project under contract. The foregoing indemnity agreement shall apply to any and all claims and suits other than claims and suits arising out of the sole and exclusive negligence of the City of South Miami Community Redevelopment Agency, its officers, agents, and employees, as determined by a court of competent jurisdiction. The franchisee will notify his insurance agent without delay of the existence of the Hold Harmless Agreement contained within this contract, and furnish a copy of the Hold Harmless Agreement to the insurance agent and carrier. 1. The franchisee will obtain and maintain contractual liability insurance in adequate limits for the sole purpose of protecting the City of South Miami Community Redevelopment Agency under the Hold Harmless Agreement from any and all claims arising out of this contractual operation. D. All policies issued to cover the insurance requirements herein shall provide full coverage from the first dollar of exposure. No deductibles will be allowed in any policies issued on this contract unless specific safeguards have been established to assure an adequate fund for Page 5 of 9 payment of deductibles by the insured and approved by the City of South Miami Community Redevelopment Agency's Director. E. The City of South Miami Community Redevelopment Agency will secure and maintain policies of subcontractors. All policies shall be made available to the City of South Miami Community Redevelopment Agency upon demand. Compliance by the franchisee and all subcontractors with the foregoing requirements as to carrying insurance and furnishing copies of the insurance policies shall not relieve the contractor and all subcontractors of their liabilities and obligations under any Section or Provisions of this contract. Franchisee shall be as fully responsible to the City of South Miami Community Redevelopment Agency for the acts and omissions of the subcontractor and of persons employed by them as he is for acts and omissions of persons directly employed by him. F. Insurance coverage required in these specifications shall be in force throughout the contract term. Should any franchisee fail to provide acceptable evidence of current insurance within seven days of receipt of written notice at any time during the contract term, the City of South Miami Community Redevelopment Agency shall have the right to terminate the franchise. G. If franchisee does not meet the insurance requirements of the specifications; alternate insurance coverage, satisfactory to the Director, may be considered. H. It is understood and agreed that the inclusion of more than one insured under these policies shall not restrict the coverage provided by these policies for one insured hereunder with respect to a liability claim or suit by another insured hereunder or an employee of such other insured and that with respect to claims against any insured hereunder, other insured hereunder shall be considered members of the public; but the ' provisions of this Cross Liability clause shall apply only with respect to liability arising out of the ownership, maintenance, use, occupancy or repair of such portions of the premises insured hereunder as are not reserved for the exclusive use of occupancy of the insured against whom claim is made or suit is filed. Property Damage Liability arising out of the collapse of or structural injury to any building or structure due to:. a. Excavation (including burrowing, filling or backfilling in connection therewith), tunneling, pile driving, cofferdam work or caisson work, or; b. Moving, shoring, underpinning, raising or demolition of any building or structure, or removal or rebuilding of any structural support thereof. Property Damage Liability for: a. Injury to or destruction of wires, conduits, pipes, mains, sewers to other similar property or any apparatus in connection therewith, below the surface of the ground arising from and during the use of mechanical equipment for the purpose of excavating or drilling, or, Page 6 of 9 b. Injury to or destruction of property at any time resulting therefrom. The term "streets" includes alleys. In determining where a street or highway ends, all of the lane up to privately owned land shall be considered. Page 7 of 9 INSURANCE CHECK LIST XXX 1. Worker's Compensation and Employer's Liability per the Statutory limits of the state of Florida. XXX 2 . Comprehensive General Liability (occurrence form), limits of liability $1,000,000.00 per occurrence for bodily injury property damage to include Premises /Operations; Products and Completed Operations; Independent Contractors; Broad Form Property Damage Endorsement and Contractual Indemnity (Hold harmless endorsement exactly as written in "insurance requirements" of specifications). XXX 3. Automobile Liability - $1,000,000.00 - covering all owned, non owned and hired vehicles per occurrence combined single limit for bodily injury and property damage. 4. Excess Liability - $ coverages. .00 per occurrence to follow the primary XXX 5. The City must be named as an additional insured on the liability policies; and it must be stated on the certificate. 6. Other Insurance as indicated: Builders Risk completed value Liquor Liability $ .00 Fire Legal Liability $ .00 Protection and Indemnity $ .00 Employee Dishonesty Bond $ .00 Other $ .00 XXX 7. Thirty (30) days written cancellation notice required. XXX 8. Best's guide rating B +:VI or better, latest edition. Page 8 of 9 11 BIDDER AND INSURANCE AGENT STATEMENT: We understand the Insurance Requirements of these specifications and that evidence of this insurance may be required within five (5) days after bid opening. Bidder Signature of Bidder Page 9 of 9 2001 Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Chair and Date: November 10, 2008 SMCRA B�oard'l�%>lemb From: Stephen` David, ITEM No. SMCRA Direc PROPERTY PURCHASE AGREEMENT FOR 6477 SW 60TH A VENUE 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6477 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0070) FOR A TOTAL PURCHASE PRICE OF $72,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 -1110- 583-61-10 (LAND ACQUISITION ACCOUNT); AND PROVIDING. AN EFFECTIVE DATE. BACKGROUND During the October 13, 2008 Meeting, the Board directed staff to obtain a forth property appraisal on blighted property located at 6477 SW 60th Avenue (Exhibits A) and to negotiate for the potential purchase of the property. Staff subsequently obtained a forth property appraisal which has been provided in Exhibits B and C. Based on recent purchase negotiations with the seller, a proposed purchase price of $72,000 has been determined. Approval of the attached resolution shall authorize the SMCRA Director to enter into agreement to purchase the above referenced property for a total contract amount of $72,000. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director enter into a purchase and sale agreement with Fredrick and Lawrence Kennedy for a total contract amount of $72,000 to purchase 6477 SW 60th Avenue (Exhibit D). Attachments: Draft Resolution Property Appraisal Spreadsheet Property Appraisal — 6477 SW 60 °i Avenue Draft Purchase and Sale Agreement SD /MCGRUFF\PLANNING \CRA \Property Purchase Agreement for 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 39 28 29 30 31 32 33 34 35 36 37 38 39 V 42 43 44 45 RESOLUTION NO. 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6477 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0070) FOR A TOTAL PURCHASE PRICE OF $72,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 583 -61- 10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, during the October 13, 2008 Meeting, the Board directed staff to obtain a forth property appraisal on blighted property located at 6477 SW 60th Avenue and to negotiate for the potential purchase of the property; and, WHEREAS, staff subsequently obtained a forth property appraisal on the above referenced property for a total appraised value of $80,000; WHEREAS, the four recently obtained appraisals for 6477 SW 60th Avenue indicated the following property values: Appraisal #I Appraisal #2 $68,500 Appraisal #3 $250,000 Appraisal #4 $80,000; and WHEREAS, Appraisal Value #3 has not been included in the final estimation of the property's value based on the fact that it appears to be in ordinarily high and inaccurate; and WHEREAS, based on subsequent negotiations with the seller, a purchase price of $72,000 has been determined; and WHEREAS, the above referenced property is located within a depressed area of the SMCRA area and if purchased will provide a solid opportunity for meaningful redevelopment. WHEREAS, the SMCRA Board desires to improve the existing conditions in the SMCRA District through the purchase and improvement of slum and blighted property. Page 1 of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 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 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, with Frederick and Lawrence Kennedy to purchase property located at 6477 SW 60th Avenue (Folio No. 09- 4025- 010 -0070) for a total contract amount of $72,000 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 $1,014,059. Section 3. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of November, 2008. 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 Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison Square Land Acquisition Map - July 28, 2008 South Miami Community Redevelopment Agency Area N i(�(�("SMCRAjk' W' F. �11� ., .' > «..v ..._, S 0 � 00 :av can ewn"v �0 0� Imo' . U ...•• W1111 a0000000 a0000mi ��waww�w a � a� G u Dv �o vv DD mM Ell v© vv 00 DD fiDifJ I ®© ®� .............................................................. IN No irm ■ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ® - SMCRA Acquired and Owned Land Parcels Including Madison Square U) J oc H 9 d IL a W IL d W N_ F9 O F Q Q O Q V G N d o ti m a O w 1W) Cl) O y > to N co N w M co co w (!. Q Q Q d H a > O CD O O O O Q a O O O O O 4) La 00 00 00 00 (c 0 64 a? a M � d « 3 N � U O p O C) p d w O LO O O � M m O O (fi N lfl N N N Efl Q. U Q N d > O O N O O O O W) O O O N = O L M N O co i di (!3 (fl Q. Q Q d ^ 7 � c m > O O' O °O_ O °O_ O °O 0 ° CD y ao 0o O •a• R Nr fl. CL a co m LO (D r- O .0 co O O O O O O O O O E 0 0 Cl 0 0 0 Z O O O o O O U') N U') N LO N LO N LO N _ Co O � LL 66 ) m m 0') O O O O O c O c c Q Q Q Q N L L L L '8 O (o O O O (O O (O O (O Q U) U) U) U) r � co �! Nr O to O it d y t a 0 0 a a .y C O U e U d m a 0 a EXHIBIT B LAND APPRAISAL REPORT FilaNn 1nnRn3R Borrower N/A Census Tract 113.00 Map Reference 54 -40 -25 Property Address 6477 SW 60TH AVENUE _ City SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Legal Description FRANKLIN SUB PB 5 -34 LOT 6 LESS W2.5FT BILK 1 Sale Price $ N/A Date of Sale N/A Loan Term N/A . yrs. Property Rights Appraised ® Fee ❑ Leasehold ❑ De Minimis PUD Actual Real Estate Taxes $ 3,134.95 Ur) Loan charges to be paid by seller $ N/A Other sales concessions N/A _ Lender /Client CITY OF SOUTH MIAMI Address 6130 SUNSET DRIVE SOUTH MIAMI FL 33143 Occupant VACANT Appraiser FRANCISCO DA SILVA Instructions to AppraiserAPPRAISER TO ESTIMATE MARKET VALUE OF LAND AS PORTION OF A BUILDABLE LOT. Location ❑ Urban M Suburban Rural Good Avg. Fair Poor Built Up ❑ Over 75% ® 25% to 75% ❑ Under 25% Employment Stability ❑ ®❑ ❑ Growth Rate ❑ Fully Dev. ❑ Rapid ® Steady ❑ Slow Convenience to Employment ® ❑ ❑ ❑ Property Values ❑ Increasing ❑ Stable ® Declining Convenience to Shopping ® ❑ ❑ ❑ Demand/Supply ❑ Shortage ❑ In Balance ® Oversupply Convenience to Schools ® ❑ ❑ ❑ Marketing Time ❑ Under 3 Mos. ❑ 4.6 Mos. ® Over 6 Mos. Adequacy of Public Transportation ® ❑ ❑ ❑ _ Present Land Use 60% 1 Family 15% 2 -4 Family 5% Apts. % Condo 20% Commercial Recreational Facilities ❑ ® ❑ ❑ % Industrial _% Vacant _% Adequacy of Utilities 11 ® ❑ 1:1 _ Change in Present Land Use ❑ Not Likely ❑ Likely ( *) ® Taking Place ( *) Property Compatibility ❑ ® ❑ ❑ ( *) From VACANT To MULTI FAMILY Protection from Detrimental Conditions ❑ ® ❑ ❑ Predominant Occupancy ® Owner ❑ Tenant 5 % Vacant Police and Fire Protection ❑ ® ❑ ❑ Single Family Price Range $ 125,000 to $ 1,250,000 Predominant Value $ 365,000 General Appearance of Properties ❑ ® ❑ ❑ Single Family Age NEW yrs. to 90 yrs. Predominant Age 50 yrs. Appeal to Market ❑ ® ❑ ❑ Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, view, noise):THERE WERE NO UNFAVORABLE FACTORS OBSERVED THAT WOULD AFFECT MARKETABILITY. ADEQUATE ACCESS TO MAIN ARTERIES OF TRANSPORTATION. PROPERTY VALUES APPEAR TO BE DECLINING ATTRIBUTED TO AN OVERAGE SUPPLY OF SIMILAR PROPERTIES IN THE MARKET AREA. THE MARKETING TIME FOR SIMILAR PROPERTIES ESTIMATED TO BE OVER SIX MONTHS. Dimensions 5,875 "AS RECORDED" = 5,875. Sq. Ft. or Acres El Corner Lot Zoning classification C -1 "RESTRICTED COMMERCIAL" " Present Improvements ® do ❑ do not conform to zoning regulations Highest and best use ❑ Present use M Other (specify) MULTI- FAMILY & COMMERCIAL Public Other (Describe) OFF SITE IMPROVEMENTS Topo LEVEL STREET GRADE Elec. ® Street Access ® Public ❑ Private Size TYPICAL OF THE AREA Gas ® Surface PAVED ASPHALT Shape RECTANGULAR Water ® Maintenance ® Public ❑ Private View RESIDENTIAL San. Sewer ® ® Storm Sewer ® Curb /Gutter Drainage APPEARS ADEQUATE ❑ Underground Elect. & Tel. M Sidewalk Z Street Lights Is the property located in a HUD Identified Special Flood Hazard Area? ❑ No ® Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions): AT THE TIME OF INSPECTION NO ADVERSE EASEMENTS WERE NOTED HOWEVER A SURVEY WAS NOT PROVIDED. THE APPRAISER CANNOT GUARANTEE THAT PROPERTY IS FREE OF ENCROACHMENTS OR EASEMENTS. // FLOOD ZONE "X" MAP # 12025 C 0276 J - MAP DATE 03/02/1994 **LAND USE IS PERMISSIBLE UNDER CURRENT ZONING CLASSIFICATION. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to or more favorable than the subject property, a minus ( -) adjustment is made thus reducing the indicated value of subject; if a significant item in the comparable is inferior to or less favorable than the subject property, a plus ( +) adjustment is made thus increasing the indicated value of the subject. ITEM I SUBJECT PROPERTY COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 Address 6477 SW 60TH AVENUE 6040 SW 62ND TERRACE 5889 SW 67TH STREET 6411 SW 57TH PLACE SOUTH MIAMI SOUTH MIAMI SOUTH MIAMI SOUTH MIAMI Proximity to Subject Mil, 0.17 miles 0.17 miles 0.29 miles Sales Price N/A . 125 000 125 000 134.800 Price S.F.OF LAND N/A ,` ,' 21.73; 17.48 22.33 Data Source INSP. /COUNTY.REC REALQUEST / ML# D1277737 REALQUEST / ML# D1230090 REALQUEST / ML# D1257070 Date of Sale and DESCRIPTION DESCRIPTION ]+(-)$ Adjust. DESCRIPTION + - Ad'ust DESCRIPTION + - Adjust. _ Time Adjustment N/A 07/2008 07/2008 07/2008 Location AVERAGE AVERAGE AVERAGE AVERAGE Site/View 5,875 S.F. 5,750 S.F. 7,150 S.F. 6,000 S.F. Improvements VACANT 1,108 S.F FRAME NO ADJ. 941 S.F FRAME NO ADJ. 1,094 S.F CBS -10,000 ZONING C -1 RS -4 RS -4 RS-4 ROAD ACCESS PV.ASPHALT PV.ASPHALT PV.ASPHALT PV.ASPHALT Functional Utility AVERAGE AVERAGE AVERAGE AVERAGE Sales or Financing ML# M1203144 122 DAYS ON 272 DAYS ON 141 DAYS ON Concessions LISTED SINCE 01/08 MARKET MARKET MARKET Net Aft (Total) + I + + -10 000 Indicated Value of Subject . -- Net , N 125 000 , Net 125,00 N81 79 ° 124,800 Comments on Market Data: THE SALES SELECTED ARE WITHIN THE SUBJECTS MARKETPLACE AND STRONG INDICATORS OF THE SUBJECTS CURRENT ESTIMATED MARKET VALUE REFLECTING THE ACTIONS OF BUYERS AND SELLERS IN THE RECENT PAST. Comments and Conditions of Appraisal: THE CONCLUSION OF VALUE IS BASED ON THE ASSUMPTION THAT THE SUBJECT PROPERTY IS A PORTION OF A BUILDABLE LOT 5,875 S.F. Anal Reconciliation: ONLY THE MARKET APPROACH TO VALUE WAS USED WHEN ARRIVING AT THE SUBJECTS FINAL ESTIMATE OF VALUE. THESE LES SELECTED WERE CONSIDERED THE BEST INDICATORS OF VALUE. • 1 ESTIATHE T VALUE, AS 0 INE , OF SO CT PROPER TY AS OF NOVEMBER 3 2008 to be $ 80 000 THE ISAL PREMI T T ARKET VALUE OF REAL ESTATE IS INFLUENCED BY THE COST OF ACQUIRING A SUOMEARA E PR . FRALA NCISCO DA SILVA ® Did Did Not Physically Inspect Property A ral Review Appraiser if applicable) (Y2K) �'`� Victoria Appraisals, Inc. (305) 448.2322 Form LND — "WinTOTAL" appraisal software by a la mode, Inc. —1- 800 - ALAMODE LAND APPRAISAL REPORT MARKET DATA ANALYSIS File No. 1008038 ITEM I SUBJECT PROPERTY COMPARABLE NO. 4 COMPARABLE NO. 5 COMPARABLE NO. 6 Address 6477 SW 60TH AVENUE SOUTH MIAMI 6301 SW 59TH PLACE SOUTH MIAMI 6461 SW 59TH COURT SOUTH MIAMI 6000 SW 64TH STREET SOUTH MIAMI ProArnity to Sub'ect ` „ 0.13 miles 0.10 miles 0.06 miles Sates Price N/A. 140 000 a; 74 900 ,` 85 000 Price S.F.OF LAND N/A 28.86 12.38 14.78 Data Source INSP. /COUNTY.REC REALQUEST / ML# N259732 REALQUEST / ML# D1305530 REALQUEST / ML# D1273655 Date of sale and DESCRIPTION DESCRIPTION + - Ad'ust. DESCRIPTION + - Adjust. DESCRIPTION Time Ad'ustment N/A 09/2008 LISTED LISTED Location AVERAGE AVERAGE AVERAGE AVERAGE = Sit iew 5 875 S.F. 4 850 S.F. 6 050 S.F. /RESD. 5 750 S.F. /RESD. ; Im rovements VACANT 1 334 SY CBS -15 000 922 S.F FRAME VACANT = ZONING C -1 RS-4 RS-4 RS-4 ROAD ACCESS PV.ASPHALT PV.ASPHALT PV.ASPHALT PV.ASPHALT Functional Utili AVERAGE AVERAGE AVERAGE AVERAGE Sales or Financing Concessions ML# M1203144 LISTED SINCE 01/08 131 DAYS ON MARKET LISTED SINCE 10/25/2008 LISTED SINCE 05/09/2008 Net Ad'. otal + -15 000 + + ofdSub'ect aloe � � . 10 „7, 125 000 / y 74 900 e1 , , �, -' 85 000 Comments: THE APPRAISER PROVIDED COMPARABLE SALE # 4 IS A CLOSED SALE AND COMPARABLE SALES # 5 AND # 6 ARE LISTED FOR SALE IN THE SUBJECTS NEIGHBORHOOD. APPRAISER'S CONCLUSION OF VALUE IS BASED UPON THE ASSUMPTION THAT THERE ARE NO HIDDEN OR UNAPPARENT CONDITIONS OF THE PROPERTY THAT MIGHT IMPACT UPON BUILDABILITY. APPRAISER RECOMMENDS DUE DILIGENCE BE CONDUCTED THROUGH LOCAL BUILDING DEPARTMENT OR MUNICIPALITY TO INVESTIGATE BUILDABILITY AND WHETHER PROPERTY IS SUITABLE FOR INTENDED USE. APPRAISER MAKES NO REPRESENTATIONS, GUARANTEES OR WARRANTIES. 'IT SHOULD BE NOTED THAT THE SIGNATURE W ILL ONLY BE DISPLAYED AND INSERTED BY THE SUPERVISORY APPRAISER ONCE THE REPORT IS SIGNED IT CANNOT BE EDITED UNLESS THE SUPERVISORY APPRAISER REMOVES IT. THE SIGNATURE OF THE REGISTER ASSISTANT REAL ESTATE APPRAISER AND THE CERTIFIED REAL ESTATE APPRAISER ARE PASSWORD PROTECTED. Victoria Appraisals, Inc. (305) 448 -2322 Form LND.(AC) — °WinTOTAL° appraisal software by a la mode, Inc. —1- 800 - ALAMODE File No. 1008038 Pa a #1 EXHIBIT C LAND APPRAISAL LOCATED AT: 6477 SW 60TH AVENUE FRANKLIN SUB PB 5 -34 LOT 6 LESS W2.51FT BILK 1 SOUTH MIAMI. FL 33143 FOR: CITY OF SOUTH MIAMI 6130 SUNSET DRIVE SOUTH MIAMI, FL 33143 AS OF: NOVEMBER BY: FRANCISCO DA SILVA Form GAt — 'WinTOTAL° appraisal software by a la mode, inc. —1- 800- ALAMODE Subject Photo Page Borrower /Client N/A Property Address 6477 SW 60TH AVENUE Cq SOUTH MIAMI Counly MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Oubjetl rruul 6477 SW 60TH AVENUE Sales Price N/A Oiuss Living Area Total Rooms Tow Bedrooms Tutal Dahuuws Luuutlull HVL'MAOr- View 5,875 S.F. Site Quality Age Form PIC3x5.SR — 'WinTOTAL' appraisal software by a la mode, inc. —1- 800 - ALAMODE Subiert Frnnt Subject Street File No. 1008038 Pa e # Comparable Photo Page Borrower /Client N/A Property Address 6477 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Comparablo 604n SW R ?Nin TFPPAC6 Prox. to Subject 0.17 miles Sales Price 125,000 Gross Living Area Total Rooms Total Redrnng Total Bathrooms LUI.dilun AVERAGL View 5, 1 SUS.F. RIM nianty Age I'nmparable Z 0005 JVv U In 61 BELT Prox. to Subject 0.17 miles Sales Price 125,000 Gross Living Area Total Rooms I Otal bedrooms Total Bathrooms Location AVERAGE View 7,150 S.F. Site Quality Age Comparable 6411 SW 57TH PLACE Prox to Subject 0.29 miles Sales Price 134,800 Gross Living Area 1 UO MUU1119 Tulal 8010111IN Total Bathrooms Location AVERAGE View a ()nn c c Site Uudury Age Form PIC3 UR — WnTOTAL' appraisal software by a la mode, inc. —1- 800- ALAMODE File No. 1008038 Pa a #6 Comparable Photo Page Borrower /Client N/A Property Address 6477 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Comparable 4 6301 SW 59TH PLACE Prox. to Subject 0.13 miles SAIPS POP 14n,nnn Gross Living Area I ulal nuui us Total Bedrooms 111181 11aIIIIIIII111,S L000tion VEIFLNIDE View 4.850 S.F. Site Onality Age Comparable 5 0401 3vv ua i n v,uum I Prou. to Gubjoat 0.10 .. Jl" Sales Price 74,900 Gross Living Area Total Rooms Total Ndi vvl l p Tntal Rathrnnmc Lut,aliuu r<v'CRH3C View 6,050 S.F.IRFFD Site Quality Auk, Comparable 6 6000 SW 64TH STREET Prox. to Subject 0.06 miles Sales Price 85,000 Gross Living Area Total Rooms Total Bedrooms Tulal Dallauuu a Location AVERAGE UIP,w 5 7Fn S F IAF4rl Site Quality Age Form PIC3x5.CR — "WinTOTAL" appraisal software by a la mode, inc. —1- 800 - ALAMODE Location Map Borrower /Client N/A Property Address 6477 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL hp Code 33143 Lender CITY OF SOUTH MIAMI a la mode, inc.' b t _ L._ ____.__ –1 l_- �— J Ancona Ave* -- me weer •nweexe uovbwH j f 3W 53rd TwwDs ` " l tr r IL IL�__ i t SW 54th Teiraoc Samme Ara...._. ... -� f""' Ttiio Ave.- .-. � I ---.� Brower `perk ` ; t ;SW 589i.Turaco Zelrrta Avc.� -� y�C j `. 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Q�,�'peq, ..MonzeAVf', .. * \+S I ell y >,r mom L - —tl 0.17 Ave- ' pP r S. ; Ij A- N2 _ �._- ...._i iL_ . —= -Y ..._- N. - San _ SW 79th S1 4 t - ' o Shope at Suneatl r � `3{ a g t 1 p6ace ,� $ - Station IhEtiar.4.soulh Mlem1 i s '- + USW7E L-- Stwth Mlcmi 9 SW72rd t St /� ( 72nd St . ^."� ° _ , SW 73rd S!'== SW 73rd St I . J $ 3 SW 73rd st, A• > s fy i �% 5' j .. -.-�1 L..� >:. -SW 74th St '_.SW74ihSt " °�- -_ r SW 74th St iS A Mlang Hospital >, '` ref ' �� — W 74th Terrine' J SW . SW Telh 51. ....- -- I r- . -� r-. r..... a. 5W 779 Tarreoa� g _ 300 yds i prt ue h M4m1 - Form MAROC — 'WinTOTAL' appraisal software by a la mode, Inc. —1- 600 - ALAMODE Flood Map Borrower /Client N/A Property Propeny Address 6477 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Form MAP.FLOOD — "WinTOTAL" appraisal software by a la mode, inc. —1- 800 - ALAMODE Plat Map Borrower /Client N/A Property Address 6477 SW 60TH AVENUE City SOUTH MIAMI County MIAMI -DADE State Fl- LZIp Code 33143 Lender CITY OF SOUTH MIAMI LEE Na 239 Form MAP.PLAT— "WnTOTAL° appraisal software by a la mode, inc. —1- 800- ALAMODE_, EXHIBIT D Vacant Land Contract ' FLORIDA ASSOCIATION OF REALTORS® RESIDENTIAL REAL ESTATE 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 sgft or 20148 - 3693 -3700 11/2001 4 (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: $ payable by Buyer in U.S. funds as follows: 17* (a) $ 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) $ 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 price will be determined based on a per unit cost instead of a fixed price) The unit used to 29* determine the purchase price is ❑ 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 * ❑ (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. 4/07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 -499 -9612 REALTOR- �= 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. Sellerwill, within 10 days from Effective Date, give Buyerwritten notice of whether or not Sellerwill 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* X (2) Seller will provide an abstract as specified in Paragraph 8(a)(2) as title evidence. ❑ Seller X 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. 4/07 © 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 X (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 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 line, 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 ( U 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 C 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" www.TrueForms.com 800 -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 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 3058563 Coldwell Banker 333 * Selling Sales Associate /License No. Selling FirmBrokerage 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 Buyer(s) and /or Seller(s) as agreed to in the Buyer's Disclosure and Information Form and /or 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 © 2007 Florida Association of REALTORS® All Rights Reserved Fnrm nwnwratwd hv. Tr neFnrma" www_TmPFnrmsrnm Ann-Aw -QR17 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: ❑ 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 ❑ a.m. ❑ p.m. on 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: Buyer: 387* Print name: South Miami CRA 388* Date: 389* Phone: 390* Fax: 391 * E -mail: 392* Date: 393* 394* Date: 395* Phone: 396* Fax: 397* E -mail: KTRI- i1 Buyer: _ Print name: 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 ( 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 C 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms www.TrueForms.com 800499 -9612 To: Honorable Chair SMCRA BoaPd'S From: Steph SMCI M ►tl RO 2001 "Making our Neighborhood a Great Place to live, Work and Play" Date: November 10, 2008 ITEM No. q PROPERTY PURCHASE AGREEMENT FOR 6487 SW 60TH AVENUE 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6487 SW 60TH AVENUE (FOLIO NO. 09- 4025- 010 -0080) FOR A TOTAL PURCHASE PRICE OF $76,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 -1110- 583-61-10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the October 13, 2008 Meeting, the Board directed staff to obtain a forth property appraisal on blighted property located at 6487 SW 60th Avenue (Exhibits A) and to negotiate for the potential purchase of the property. Staff subsequently obtained a forth property appraisal which has been provided in Exhibits B and C. Based on recent purchase negotiations with the seller, a proposed purchase price of $76,000 has been determined. Approval of the attached resolution shall authorize the SMCRA Director to enter into agreement to purchase the above referenced property for a total contract amount of $76,000. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director enter into a purchase and sale agreement with Fredrick and Lawrence Kennedy for a total contract amount of $76,000 to purchase 6487 SW 60th Avenue (Exhibit D). Attachments: Draft Resolution Property Appraisal Spreadsheet Property Appraisal — 6487 SW 60 °i Avenue Draft Purchase and Sale Agreement SD /MCGRUFF\PLANNING \CRA \Property Purchase Agreement for 6487 SW 60'h 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 39 28 29 30 31 32 33' 34 35 36 37 38 39 V 42 43 44 45 RESOLUTION NO. 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6487 SW 60Tn AVENUE (FOLIO NO. 09- 4025- 010 -0080) FOR A TOTAL PURCHASE PRICE OF $76,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 583 -61- 10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, during the October 13, 2008 Meeting, the Board directed staff to obtain a forth property appraisal on blighted property located at 6487 SW 60th Avenue and to negotiate for the potential purchase of the property; and, WHEREAS, staff subsequently obtained a forth property appraisal on the above referenced property for a total appraised value of $80,000; WHEREAS, the four recently obtained appraisals for 6487 SW 60th Avenue indicated the following property values: Appraisal #I $70,000 Appraisal #2 $100,000 Appraisal #3 $250,000 Appraisal #4 $80,000; and WHEREAS, Appraisal Value #3 has not been included in the final estimation of the property's value based on the fact that it appears to be in ordinarily high and inaccurate; and WHEREAS, based on subsequent negotiations with the seller, a purchase price of $76,000 has been determined; and WHEREAS, the above referenced property is located within a depressed area of the SMCRA area and if purchased will provide a solid opportunity for meaningful redevelopment. WHEREAS, the SMCRA Board desires to improve the existing conditions in the SMCRA District through the purchase and improvement of slum and blighted property. Page 1 of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 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 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, with Frederick and Lawrence Kennedy to purchase property located at 6487 SW 60th Avenue (Folio No. 09- 4025- 010 -0080) for a total contract amount of $76,000 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 $938,059. Section 3. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of November, 2008. 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 Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison Square Land Acquisition Map - July 28, 2008 South Miami Community Redevelopment Agency Area 1911k. - N KF AIML SMCRA S INN ©� ie��oo© a0000 ©oo Q � �® i��o ®® Qmmo © ©oQ a© ,: M aim WIN . aQ aoo a ©Q, a A ��oo ©oO D OD DD vo 4-1111 = a-in M E C ■ �� Clio, ■ WIN 11 00 Miles � fl° ... ....................................... . ..... . ....... .................. .. .............................. ............................... - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- -- - - - - - - - - - - - - - - - - - - - SMCRA Acquired and Owned Land Parcels Including Madison Square H J _H d CL Q W CL cz CL G W N_ 2 O S H M a a O sm G N d 10 R O t0 G M C O tC LO M d d > N LO W) N 00 OD �_ 12 Q Q tY h 3• a a ` > O O O O O a Q Q O O O O O N R O O Nr O O O 00 O 00 O 00 R w EA Ef3 t!3 EA � v Q. CL .- a Cl) m 3 m U O O O O O O CD Nlt•) 1,() LO .R C N N Q . U CL Q N d i O O O O O 4 d O O O O LO O O N O O Cl) N Op (O O 000 � to 61. EA 61k CL CL Q ea o o O 0O_ O 0O_ O 0O 0 N c (D Oo ao O � Ni v (R � Q LLL t2 Q L a 00 O O O Co O O o O O E 0 0 0 0 0 Z O O O �- O O O C O N O N � N to N U') N °v, o v v U. rn rn rn rn rn C) o O o O N 3 7 3 t= :_ > Q Q Q Q N Q i 'C O t0 O O O O O O O to Q U) r OOD O r- 00 O cfl (C) O O t0 O 0-1 17,1 1 N c d N r O 5 a Q U� G m O � d 'y a G tq U o j V Q y n m Q r � d n o � a o i EXHIBIT B LAND APPRAISAL REPORT Fila Nn 1008036 Borrower N/A Census Tract 113.0 Map Reference 54 -40 -25 Property Address 6487 SW 60TH AVENUE City SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Legal Description FRANKLIN SUB PB 5 -34 LOT 7 LESS W2.5FT BLK 1 & 4FT ALLEY LYG S & ADJ CLOSED Sale Price $ N/A Date of Sale N/A Loan Term N/A yrs. Property Rights Appraised ® Fee ❑ Leasehold ❑ De Minimis PLO Actual Real Estate Taxes $ 4,329.92 (yr) Loan charges to be paid by seller $ N/A Other sales concessions N/A _ Lender /Client CITY OF SOUTH MIAMI Address 6130 SUNSET DRIVE SOUTH MIAMI FL 33143 Occupant VACANT Appraiser FRANCISCO DA SILVA Instructions to AppraiserAPPRAISER TO ESTIMATE MARKET VALUE Location El Urban X Suburban LJ Rural Good Avg. Fair Poor Built Up ❑ Over 75% ® 25% to 75% ❑ Under 25% Employment Stability ❑ ® ❑ ❑ Growth Rate ❑ Fully Dev. ❑ Rapid ® Steady ❑ Slow Convenience to Employment ® ❑ ❑ ❑ Property Values ❑ Increasing ❑ Stable ® Declining Convenience to Shopping ®❑ ❑ ❑ Demand/Supply ❑ Shortage ❑ In Balance ® Oversupply Convenience to Schools ® ❑ ❑ ❑ Marketing Time ❑ Under 3 Mos. ❑ 4 -6 Mos. ® Over 6 Mos. Adequacy of Public Transportation . ® ❑ ❑ ❑ Present Land Use 60% 1 Family 15% 2 -4 Family 5% Apts. _% Condo 20% Commercial Recreational Facilities ❑ ® ❑ ❑ % Industrial Vacant % Adequacy of Utilities ❑ ®❑ ❑ _% Change in Present Land Use ❑ Not Likely ❑ Likely ( *) ® Taking Place ( *) Property Compatibility E] ®❑ 1:1 ( *) From VACANT To MULTI FAMILY Protection from Detrimental Conditions ❑ ® ❑ ❑ Predominant Occupancy ® Owner ❑ Tenant 5 % Vacant Police and Fire Protection ❑ ® ❑ ❑ Single Family Price Range $ 125,000 to $ 1,250,000 Predominant Value $ 365,000 General Appearance of Properties ❑ ® ❑ ❑ Single Family Age NEW yrs. to 90 yrs. Predominant Age 50 yrs. Appeal to Market ❑ ® ❑ ❑ Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, view, noise):THERE WERE NO UNFAVORABLE FACTORS OBSERVED THAT WOULD AFFECT MARKETABILITY. ADEQUATE ACCESS TO MAIN ARTERIES OF TRANSPORTATION. PROPERTY VALUES APPEAR TO BE DECLINING ATTRIBUTED TO AN OVERAGE SUPPLY OF SIMILAR PROPERTIES IN THE MARKET AREA. THE MARKETING TIME FOR SIMILAR PROPERTIES ESTIMATED TO BE OVER SIX MONTHS. Dimensions 6.180 "AS RECORDED" = 6,180 Sq. Ft. or Acres Corner Lot Zoning classification C -1 "RESTRICTED COMMERCIAL" " Present Improvements ® do ❑ do not conform to zoning regulations Highest and best use ❑ Present use M Other (specify) MULTI - FAMILY & COMMERCIAL Public Other (Describe) OFF SITE IMPROVEMENTS Topo LEVEL STREET GRADE Elec. ® Street Access ® Public ❑ Private Size TYPICAL OF THE AREA Gas ® Surface PAVED ASPHALT Shape RECTANGULAR Water ® Maintenance ® Public ❑ Private Mew RESIDENTIAL San. Sewer ® ® Storm Sewer ® Curb /Gutter Drainage APPEARS ADEQUATE ❑ Underground Elect. & Tel. M Sidewalk Z Street Lights Is the property located in a HUD Identified Special Flood Hazard Area? ❑ No ® Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions): THERE WERE NO UNFAVORABLE FACTORS OBSERVED THAT WOULD AFFECT MARKETABILITY. ADEQUATE ACCESS TO MAIN ARTERIES OF TRANSPORTATION. PROPERTY VALUES APPEAR TO BE DECLINING ATTRIBUTED TO AN OVERAGE SUPPLY OF SIMILAR PROPERTIES IN THE MARKET AREA. THE MARKETING TIME FOR SIMILAR PROPERTIES ESTIMATED TO BE OVER SIX MONTHS. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment reflecting market reaction to those items of significant variation ,between the subject and comparable properties. It a significant item in the comparable property is superior to or more favorable than the subject property, a minus ( -) adjustment is made thus reducing the indicated value of subject; if a significant item in the comparable is inferior to or less favorable than the subject property, a plus ( +) adjustment is made thus increasing the indicated value of the subject. ITEM I SUBJECT PROPERTY COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 Address 6457 SW 60TH AVENUE 6040 SW 62ND TERRACE 5889 SW 67TH STREET 6411 SW 57TH PLACE SOUTH MIAMI SOUTH MIAMI SOUTH MIAMI SOUTH MIAMI Proximity to Subject Via' 0.17 miles 0.17 miles 0.29 miles Sales Price N/A ; � 125 000 OW 125 000 a . 134,800 Price S.F.OF LAND N/A 21.73 1 IS 17.48 i MLwa— I s 22.33 Data Source INSP. /COUNTY.REC REALQUEST/ ML# D1277737 REALQUEST/ ML# D1230090 REALQUEST/ ML# D1257070 Date of Sale and DESCRIPTION DESCRIPTION 1+(-)$ Adjust. DESCRIPTION 1+(-)$ Adjust DESCRIPTION + - Adjust. _ Time Adjustment N/A 07/2008 07/2008 07/2008 Location AVERAGE AVERAGE AVERAGE AVERAGE Site/View 6,180 S.F. 5,750 S.F. 7,150 S.F. 6,000 S.F. Improvements 1,040 S.F FRAME 1,108 S.F FRAME NO ADJ. 941 S.F FRAME ; NO ADJ. 1,094 S.F CBS -10,000 ZONING C -1 RS-4 RS -4 RS -4 ROAD ACCESS PV.ASPHALT PV.ASPHALT PV.ASPHALT PV.ASPHALT Functional Utility AVERAGE AVERAGE AVERAGE AVERAGE Sales or Financing ML# M1203124 122 DAYS ON 272 DAYS ON 141 DAYS ON Concessions LISTED SINCE 01/08 MARKET MARKET MARKET Net Ad'. (Total) a '..�° + + + - 10 000 Indicated Values `. �e of Subject x -„ e ' 125,000 ` °lo, _ 125,000 !., 7 h 124 800 Comments on Market Data: THE SALES SELECTED ARE WITHIN THE SUBJECTS MARKETPLACE AND STRONG INDICATORS OF THE SUBJECTS CURRENT ESTIMATED MARKET VALUE REFLECTING THE ACTIONS OF BUYERS AND SELLERS IN THE RECENT PAST. Comments and Conditions of Appraisal: THE CONCLUSION OF VALUE IS BASED ON THE ASSUMPTION THAT THE SUBJECT PROPERTY IS A PORTION OF A BUILDABLE LOT 6,180 S.F. Final Reconciliation: ONLY THE MARKET APPROACH TO VALUE WAS USED WHEN ARRIVING AT THE SUBJECTS FINAL ESTIMATE OF - VALUE. THESE SALES SELECTED WERE CONSIDERED THE BEST INDICATORS OF VALUE. I ESTIMATE THE MA ET VALUE, AS 0 HE , OF SO ECT PROPERTY AS OF NOVEMBER 3 2008 to be $ 80,000 THE BASIC APP SAL PREMI T , T ARKET VALUE OF REAL ESTATE IS INFLUENCED BY THE COST OF ACQUIRING A SUBSTITUT OMEARA E PR FRAN IL A CISCO DA SILVA ® Did ❑ Did Not Physically Inspect Property Appr al Review Appraiser if applicable). (Y2K) `�,f Victoria Appraisals, Inc. (305) 448 -2322 Form LND — "WinTOTAL" appraisal software by a la mode, Inc. —1. 800 - ALAMODE LAND APPRAISAL REPORT [File No. 10080361 Paoe #3 MARKET DATA ANALYSIS File No. 1008036 ITEM SUBJECT PROPERTY COMPARABLE NO. 4 COMPARABLE NO. 5 COMPARABLE NO. 6 Address 6457 SW 60TH AVENUE SOUTH MIAMI 6301 SW 59TH PLACE SOUTH MIAMI 6461 SW 59TH COURT SOUTH MIAMI 6000 SW 64TH STREET SOUTH MIAMI Pro)dm'n to Sub'ect v 'v ;.:: 0.13 miles 0.10 miles 0.06 miles Sales Price N/A ,: w' °, 140,000 - J 74,900 040,161MA . % 85,000 Price S.F.OF LAND N/A ' % 28.86 ,, ' :, 12:38 , 4W. 14.78 Data Source INSP. /COUNTY.REC REALQUEST / ML# N259732 REALQUEST / ML# D1305530 REALQUEST / ML# D1273655 Date of sale and DESCRIPTION DESCRIPTION + - Ad ust. DESCRIPTION + - Ad'ust. DESCRIPTION + - Ad'ust. Time Ad'ustment N/A 09/2008 LISTED LISTED Location AVERAGE AVERAGE AVERAGE AVERAGE Site/View 6.180 S.F. 4,850 S.F. 6,050 S.F. /RESD. I 5,750 S.F. /RESD. Improvements 1.040 S.F FRAME 1,334 S.F CBS -15,000 922 S.F FRAME VACANT = ZONING C -1 RS-4 RS -4 RS-4 ROAD ACCESS PV.ASPHALT PV.ASPHALT PV.ASPHALT PV.ASPHALT Functional Utiljtv AVERAGE AVERAGE AVERAGE -AVERAGE Sales or Financing Concessions ML# M1203124 LISTED SINCE 01/08 131 DAYS ON MARKET LISTED SINCE 10/25/2008 LISTED SINCE 05/09/2008 Net Ad. Total " + -15 000 + - + - Indicated Value of Subject ✓ 0.7 „' $ 125 000 , ;, diet .�,. -', $ 74,900 Nela $ 85,000 Comments: THE APPRAISER PROVIDED COMPARABLE SALE # 4 IS A CLOSED SALE AND COMPARABLE SALES # 5 AND # 6 ARE LISTED FOR SALE IN THE SUBJECTS NEIGHBORHOOD. APPRAISER'S CONCLUSION OF VALUE IS BASED UPON THE ASSUMPTION THAT THERE ARE NO HIDDEN OR UNAPPARENT CONDITIONS OF THE PROPERTY THAT MIGHT IMPACT UPON BUILDABILITY. APPRAISER RECOMMENDS DUE DILIGENCE BE CONDUCTED THROUGH LOCAL BUILDING DEPARTMENT OR MUNICIPALITY TO INVESTIGATE BUILDABILITY AND WHETHER PROPERTY IS SUITABLE FOR INTENDED USE. APPRAISER MAKES NO REPRESENTATIONS GUARANTEES OR WARRANTIES. `IT SHOULD BE NOTED THAT THE SIGNATURE WILL ONLY BE DISPLAYED AND INSERTED BY THE SUPERVISORY APPRAISER ONCE THE REPORT IS SIGNED IT CANNOT BE EDITED UNLESS THE SUPERVISORY APPRAISER REMOVES IT. THE SIGNATURE OF THE REGISTER ASSISTANT REAL ESTATE APPRAISER AND THE CERTIFIED REAL ESTATE APPRAISER ARE PASSWORD PROTECTED. Victoria Appraisals, Inc. (305) 448 -2322 Form LND.(AC) — "WinTOTAL" appraisal software by a la mode, Inc. —1- 800 - ALAMODE EXHIBIT C LAND APPRAISAL LOCATED AT: 6487 SW 60TH AVENUE -IN SUB PB 5 -34 LOT 7 LESS W2.5FT BLK 1 & 4FT ALLEY LYG S & ADJ C SOUTH MIAMI, FL 33143 FOR: CITY OF SOUTH MIAMI 6130 SUNSET DRIVE SOUTH MIAMI, FL 33143 AS OF: NOVEMBER BY: FRANCISCO DA SILVA Form GA1— "WinTOTAL° appraisal software by a la mode, Inc. —1- 800- ALAMODE IFIle No. 10080361 #4 Subject Photo Page Borrower /Client N/A Property Address 6487 SW 60TH AVENUE City SOUTH MIAMI County MIAMI -DADE State FL Zlp Code 33143 Lender CITY OF SOUTH MIAMI Subject Front 6457 SW 60TH AVENUE Sales Price NIA Gross Living Area Tulal Rnnms Tuiai oewunrns Total Bathrooms Location AVERAGE View 6,180 S.F. Cito Quality Age Form PIC3x5.SR — "WinTOTAL" appraisal software by a la mode, inc. —1- 800 - ALAMODE cuhjoct Front Subject Street IFile No. 10080361 Pa e #5 Comparable Photo Page Borrower /Client N/A Property Address 6487 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Comparable f304n .wt R?MI 1 —RR,%crs Prox. to Subject 0.17 miles Sales Price 125,000 Gross Living Area Total Rooms T„ L,I n,, i Total Dathmai u Location AVFRAGF Vicw F,7Rn 9,F, Ntu Quality Age Comparable 2 5889 SW 67TH STREET Prox. to Subject 0.17 miles Sales Price 125,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location AVERAGE View 7,150 S.F. We Quality AUP Comparable 6411 SW 57TH PLACE Prox to Subject 0.29 miles Sales Price 134,800 Gross Living Area IO I Hooms Total Dadruunu Total BathrOgM5 Location AVERAAF Mall, o,000 ox. $Ito Quality Age Form PIC3x5.CR — "WInTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODE lFile No. 10080361 Facie # Comparable Photo Page Borrower /Client N/A Property Address 6487 SW 60TH AVENUE Gity SOUTH MIAMI County MIAMI -DADE State FL Tip Code 33143 Lender CITY OF SOUTH MIAMI Comparable 4 6301 SW 59TH PLACE PmY to Cuhlart 9,12 rllilnn Sales Price 140,000 GIUS5 LIVlhg area Total Rooms Total Bedrooms Total Bathrooms Location AVERAGE View 4,050 S.F. Sit@ Quality Age Comparable 5 6461 SW 59TH COURT Prox to Subject 0.10 miles ShcUb PIIUU /4,900 Gross Living Area Tntil Rv@m@ Td Al IVtlIUUIIIU TMaI R,thrO @mg Location AVERAGE View u,000 a.r.JKLbU. Oitc Quality AOP Comparable 6 6000 SW 64TH STREET Prox to Subject 0.06 miles Sales Price 85,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location AVERAGE Ww 5,7GO O.FIREOD. Site Oudllty Age Form PIC3x5.CR — "WinTOTAL" appraisal software by a la mode, inc. —1- 800 - ALAMODE Location Map Borrower Client N/A Property Address 6487 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI a j„• A SW4131 St' :SW41nt St a la mode Inc. L � { s,,42ad St `� Canton Ave Tgen 1SrMrYltltNlteCncbh• 'yi y; °'�' .r St Sw SW and Twaca' Gmd° tirt .3 Swr1a Ave - i SW' 43'd St SW 430 St 4 : Country Club L1 5 1 sW 44m si. SW 44th St _.... q ' ty� Aw R a ra Country SW45th St... t ,� �i• S. OrAI ttt- - Msrcai7°Aw Club 2 '1 ., iAkB't ..� SW 45N St 3 _ i L ... _ Mendevl.lAVC SW 461h St �.- � .. �. SW 461h Tan°°. .. .. r . }fl jam Ave vqev�� f. „. .. ....... 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Dante a ISW 87th st _ s i Fascoll i � A �,,P.,a + i._' :.`SW 8861 °st .:_. 94 — awwor T5 -----_ ..._. -_ st4i een,•S� � r--- -' _" C 7 0- D -p-a•-s Virtual Faith' M � ° > a •6jx! m s ,-_. • o Form MAP.LOC — WnTOTAL• appraisal software by a la mode, Inc. —1- 800 - ALAMODE Flood Map Borrower /Client N/A Property Address 6487 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Prepared for: InteiFloo Victoria Appraiser & Realty (305) 446 -2322 e=s 1r7a W ersd 6457 SW 60TH AVENUE wwwAniberttood.mm • 1- 800 -252 -6633 SOUTH MIAMI, FL 33143 6a.,D yr D de Cot A1no rporate8.1 120635 $w Form MAP.FLOOD — °WinTOTAL° appraisal software by a la mode, inc. —1- 800 - ALAMODE CI TM Ti i u �w 4 SW City of Sn gFYH .$FSouth ....... �. ...�.......... ................. - 25 NU 120 Flood 'Hazards Map - SW a H. o Map Number t� sr x 12025CO276J Effective Date March 2,1994 5w ?Gx�, 5T w iw 0 40U 800' 1200' 1600' =- - Powered by Floodsouroe 877.77.FLOOD .- °-- °•••'. www.floodsouroe.00m © 1999 -2008 Source Prose andlor Flood Source Corporations. WI rights reserved. Patents 8,631,328 and 6,878,815. Other patents pending. For Info: into(7floodsoume.00m. Form MAP.FLOOD — °WinTOTAL° appraisal software by a la mode, inc. —1- 800 - ALAMODE Plat Map Borrower /Client N/A Property Address 6487 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Form MAP.PLAT — °WinTOTAL° appraisal software by a la mode. inc. — 1- 800•ALAMODE IN _ F3zzv-LQ ,7& 1 r ® LIM W= r TOR SCHOOI 5u6jec[ am 11" + mm Sk 64875W 60TH AYEfYUE `MM mn His �, ®� �{�`IIL_Ji►i,�i� %`D7AL �"" wag f111■ Form MAP.PLAT — °WinTOTAL° appraisal software by a la mode. inc. — 1- 800•ALAMODE EXHIBIT D Residential Sale and Purchase Contract - 4 FLORIDA ASSOCIATION OF REALTORS(g) ResInemmAL Reap Esrnre 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 L ra S & Adj Closed per R -92 -1517 7 * Lot Size 6180sft or 20148 - 3693 -3700 11/2001 4 (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: $ payable by Buyer in U.S. currency as follows: 20* (a) $ 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) (3666 -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) $ 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 C -.... - .........a -J 1.... Tsn.w C...�..m .. -.... T- ....L....�- ........ nnn inn nn_w� 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- % (1.5% 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 Lenders 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 A ❑ (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 owner's title policy, search, examination and related charges or ❑ Buyer will select the title 79 * agent and pay for the owner's title policy, search, examination and related charges or ❑ Buyer will select the title agent 80 and Seller will pay for the owner's title policy, search, examination and related charges. 81 * X (2) Seller will provide an abstract as specified in Paragraph 10(a)(2) as title evidence. ❑Seller XBuyer 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 Seller 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( and Seller (_� (_� acknowledge receipt of a copy of this page, which is Page 2 of 8 Pages. FAR -9 4/07 ©2007 Florida Association of REALTORS® All Rights Reserved 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, Seller 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 /driveways /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 acknowledge receipt of a copy of this page, which is Page 3 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 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( and Seller ( U acknowledge receipt of a copy of this page, which is Page 4 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 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 4/07 02007 Florida Association of REALTORS® All Rights Reserved Form generated by: True Forms'" 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 Sellers 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 4/07 ©2007 Florida Association of REALTORS® 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. X H. As Is w /Right to Inspect ❑ O. Interest - Bearing Account XI 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 X 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 [:IT. 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 Buyer(s) and /or Seller(s) as agreed to in the Buyer's Disclosure and Acknowledgment and /or 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( ( 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 ❑ a.m. ❑ p.m. on this offer will be 416 revoked and Buyer's deposit refunded subject to clearance of funds. 417 COUNTER OFFER/REJECTION 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: 422 * 423 * Date: 424 * Phone: 425 * Fax: * 426 * E -mail: 427 * Date: 428 * 429 * Date: 430 * Phone: 431 * Fax: * 432 * E -mail: 433 * Buyer: Print name: South Miami CRA Buyer: _ Print name: Address: Seller: Print name: Seller: Print name: Address: Effective Date: (The date on which the last party signed or initialed and delivered the final offer or counteroffer.) 434 Buyer( ( ) and Seller ( U 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 ® q uu R 2001 Making our Neighborhood a Great Place to Live, War* and Play/' To: Honorable Chair and Date: November 10, 2008 SMCRA. Boa -d Z—em—bD From: Stephen/David, ITEM No. SMCRA Direc PROPERTYPURCHASE. AGREEMENT FOR 6488 SW 60TH A VENUE 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 NAOMI WILLIAMS, ETALS AND FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6488 SW 60TH AVENUE (FOLIO NO. 09- 4025- 000 -0850) FOR A TOTAL PURCHASE PRICE OF $452,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 583 -61 -10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. BACKGROUND During the October 13, 2008 Meeting, the Board directed staff to obtain a forth property appraisal on blighted property located at 6488 SW 601h Avenue (Exhibits A) and to negotiate for the potential purchase of the property. Staff subsequently obtained a forth property appraisal which has been provided in Exhibits B and C. Based on recent purchase negotiations with the seller, a proposed purchase price of $452,000 has been determined. Approval of the attached resolution shall authorize the SMCRA Director to enter into agreement to purchase the above referenced property for a total contract amount of $452,000. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director enter into a purchase and sale agreement with Naomi Williams Etals and Fredrick and Lawrence Kennedy for a total contract amount of $452,000 to purchase 6488 SW 601h Avenue (Exhibit D). Attachments: Draft Resolution Property Appraisal Spreadsheet Property Appraisal — 6488 SW 60 "' Avenue Draft Purchase and Sale Ageement SD/MCGRUFF \PLANNING \CRA \Property Purchase Agreement for 6488 SW 60 "' 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 39 2q8 30 31 32 33 34 35 36 N 39 40 41 42 43 44 45 46 RESOLUTION NO. 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 FREDERICK AND LAWRENCE KENNEDY TO PURCHASE PROPERTY LOCATED AT 6488 SW 60TH AVENUE (FOLIO NO. 09- 4025 - 000 -0850) FOR A TOTAL PURCHASE PRICE OF $452,000 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610- 1110 - 583 -61- 10 (LAND ACQUISITION ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, during the October 13, 2008 Meeting, the Board directed staff to obtain a forth property appraisal on blighted property located at 6488 SW 60th Avenue and to negotiate for the potential purchase of the property; and, WHEREAS, staff subsequently obtained a forth property appraisal on the above referenced property for a total appraised value of $450,000; WHEREAS, the four recently obtained appraisals for 6488 SW 60th Avenue indicated the following property values: Appraisal 41 $460,000 Appraisal 42 $500,000 Appraisal #3 $410,000 Appraisal #4 $450,000; and WHEREAS, based on subsequent negotiations with the seller, a purchase price of $452,000 has been determined; and WHEREAS, the above referenced property is located within a depressed area of the SMCRA area and if purchased will provide a solid opportunity for meaningful redevelopment. WHEREAS, the SMCRA Board desires to improve the existing conditions in the SMCRA District through the purchase and improvement of slum and blighted property. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Page 1 of 2 1 2 3 4 5 6 7 8 9 0 111 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 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, with Frederick and Lawrence Kennedy to purchase property located at 6488 SW 60I' Avenue (Folio No. 09- 4025- 000 -0850) for a total contract amount of $452,000 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 $486,059. Section 3. 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 November, 2008. 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 Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: EXHIBIT A Madison Square Land Acquisition Map - July 28, 2008 South Miami Community Redevelopment Agency Area N W T ftSMCRAk- S O it'-nol av -jgU-1 ......................................................... F --W low, son 0. Io0 0 � �© � 0 © ®00 ©00 ©o o i® ................................. ............................ - ------------------- ----- --- - -------- SMCRA Acquired and Owned Land Parcels Including Madison Square H J H a W C9 W N_ ri D Q Q gm fir ♦i CV G N d CD CO) e`3 p O CO (LO M G y d > N 1A W) N Go t0 („ j 00 o0 a Q. CL a d H t6 > a ° °o_ O o0 O O 00 O °o a C0 as 1° ° 0 00 C 00 0 00 0 00 ep w Ef3 64 ER L C) CL CL a Cl) 4t d i+ R � U O O O O CD 13 0 O U) H to Lo C5 � 0 LO N N cli C CL U CL Q N 3 t6 C >` O Cl O O O O O O LO O O m N = O O O M � O O O 00 LO N L 64 614 (A ifi Q Q Q d v 3 � <a > ° O 0O o o oo_ Co ° C) C) CO H C CD O 00 O � T L `r CL a O O O O O L d ,p 00 o O O O o O o Co Cl E 0 0 C) 0 0 3 Z ° o •- 0 �- 0 o `- O O LO N In N In N to N In N _ O v v v v v LL m m CD 0 0 0 0 0 _ c � c c :3 c > N Q Q Q Q Q 4) t L c w L O co (0 co ° (0 (D Q U) cn cn U) cn LO r- L d 000 'C O IV- O LO O (O to CO CO (0 CL N M N a) ! t O 5 Q. Q LL Li c m o a d G y (j O L y V 4 y a d d a o � a o EXHIBIT B LAND APPRAISAL REPORT File No. 1008034 Borrower N/A Census Tract 113.00 Map Reference 54 -40 -25 Property Address 6488 SW 60TH AVENUE _ City SOUTH MIAMI County MIAMI -DADE State FL Zlp Code 33143 Legal Description 25 54 40.815 AC MIL S444FT OF E1/2 OF NW 1/4 OF NW1 /4 OF SE1 /4 LESS W10OFT & LESS S80FT OF N296FT OF E50 Sale Price $ N/A Date of Sale N/A Loan Term N/A yrs. Property Rights Appraised ® Fee ❑ Leasehold E] De Minimis PUD Actual Real Estate Taxes $ 17,343.99 (yr) Loan charges to be paid by seller $ N/A Other sales concessions N/A _ Lender /Client CITY OF SOUTH MIAMI Address 6130 SUNSET DRIVE SOUTH MIAMI FL 33143 Occupant VACANT Appraiser FRANCISCO DA SILVA Instructions to AppraiserAPPRAISER TO ESTIMATE MARKET VALUE OF LAND AS PORTION OF A BUILDABLE LOT. Location L Urban ® Suburban ❑ Rural Good Avg. Fair Poor Built Up ❑ Over 75% ® 25% to 75% ❑ Under 25% Employment Stability ❑ ®❑ ❑ Growth Rate ❑ Fully Dev. ❑ Rapid ® Steady ❑ Slow Convenience to Employment ® ❑ ❑ ❑ Property Values ❑ Increasing ❑ Stable ® Declining Convenience to Shopping ® ❑ ❑ ❑ Demand/Supply ❑ Shortage ❑ In Balance ® Oversupply Convenience to Schools ® ❑ '❑ ❑ Marketing Time ❑ Under 3 Mos. ❑ 4.6 Mos. ® Over 6 Mos. Adequacy of Public Transportation ® ❑ ❑ ❑ Present Land Use 60% 1 Family 15% 2 -4 Family 5% Apts. _% Condo 20% Commercial Recreational Facilities El ❑ El % Industrial _% Vacant _% Adequacy of Utilities ❑ ® ❑ ❑ Change in Present Land Use ❑ Not Likely ❑ Likely ( *) ® Taking Place ( *) Property Compatibility ❑ ®❑ ❑ ( *) From VACANT To MULTI FAMILY Protection from Detrimental Conditions ❑ ® ❑ ❑ Predominant Occupancy ® Owner ❑ Tenant 5 % Vacant Police and fire Protection ❑ ®❑ ❑ Single Family Price Range $ 125,000 to $ 1,250,000 Predominant Value $ 365,000 General Appearance of Properties ❑ ® ❑ ❑ Single Family Age NEW yrs. to 90 yrs. Predominant Age 50 yrs. Appeal to Market ❑ ® ❑ ❑ Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, view, noise):THERE WERE NO UNFAVORABLE FACTORS OBSERVED THAT WOULD AFFECT MARKETABILITY. ADEQUATE ACCESS TO MAIN ARTERIES OF TRANSPORTATION. PROPERTY VALUES APPEAR TO BE DECLINING ATTRIBUTED TO AN OVERAGE SUPPLY OF SIMILAR PROPERTIES IN THE MARKET AREA. THE MARKETING TIME FOR SIMILAR PROPERTIES ESTIMATED TO BE OVER SIX MONTHS. Dimensions 35,512 "AS RECORDED" = 35,512 Sq. Ft. or Acres Ll Corner Lot Zoning classification RS-4 "SINGLE FAMILY' " Present Improvements ® do ❑ do not conform to zoning regulations Highest and best use ❑ Present use X Other s eci SINGLE FAMILY Public Other (Describe) OFF SITE IMPROVEMENTS Topo LEVEL STREET GRADE Elec. ® Street Access ® Public ❑ Private Size TYPICAL OF THE AREA Gas ® Surface PAVED ASPHALT Shape RECTANGULAR Water ® Maintenance ® Public ❑ Private View RESIDENTIAL San. Sewer ® ® Storm Sewer ® Curb /Gutter Drainage APPEARS ADEQUATE El underground Elect. & Tel. Z Sidewalk Z Street Lights Is the property located in a HUD Identified Special Flood Hazard Area? ❑ No ®Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions): AT THE TIME OF INSPECTION NO ADVERSE EASEMENTS WERE NOTED, HOWEVER A SURVEY WAS NOT PROVIDED. THE APPRAISER CANNOT GUARANTEE THAT PROPERTY IS FREE OF ENCROACHMENTS OR EASEMENTS. ll FLOOD ZONE "X" MAP # 12025 C 0276 J - MAP DATE 03/02/1994 **LAND USE IS PERMISSIBLE UNDER CURRENT ZONING CLASSIFICATION. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to or more favorable than the subject property, a minus ( -) adjustment is made thus reducing the indicated value of subject; if a significant ftem in the comparable is inferior to or less favorable than the subject property, a plus ( +) adjustment is made thus increasing the indicated value of the subject. ITEM I SUBJECT PROPERTY COMPARABLE NO.1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address 6488 SW 60TH AVENUE 6790 SW 72ND TERRACE 7601 SW 63RD COURT 7005 SW 76TH STREET SOUTH MIAMI SOUTH MIAMI SOUTH MIAMI MIAMI Proximity to Subject .• 0.87 miles 0.75 miles 1.21 miles Sales Price N/A ; " Vii' -' 450,000 270,000 '. ", s`'.. `': IS 600,000 Price S.F.OF LAND N/A N '` 12.47' ` 12.51 ce` 12.52 Data Source INSP. /COUNTY.REC REALQUEST / ML# D1277737 REALQUEST / ML# D1230090 REALQUEST / ML# D1278071 Date of Sale and DESCRIPTION DESCRIPTION 1+(-)$ Adjust. DESCRIPTION + - Adjust DESCRIPTION Time Adjustment N/A 03/2008 10/2008 0812008 Location AVERAGE AVERAGE AVERAGE AVERAGE Site /View 35,512 S.F. 36,067 S.F. 21,568 S.F. ; +174,300 47,916 S.F. -155,050 IMPROVEMENTS 832 S.F FRAME VACANT NO ADJ. 2,038 S.F CBS NO ADJ. 1,373 S.F CBS NO ADJ. ZONING RS-4 RB -9 RS -3 EU -1 ROAD ACCESS PV.ASPHALT PV.ASPHALT PV.ASPHALT PV.ASPHALT FUNCTIONAL UTILITY AVERAGE AVERAGE AVERAGE AVERAGE Sales or Financing ML# Ml 203304 216 DAYS ON 103 DAYS ON 520 DAYS ON Concessions LISTED SINCE 01/08 MARKET MARKET MARKET Net Ad'. (Total) v + + 174 300 + -155,050 1$ Indicated Value of Subject , > iV@t % :, 450 000. " �A:�%_„ $ 444 300 u. Net 5$, °/a 444,950 Comments on Market Data: THE SALES SELECTED ARE WITHIN THE SUBJECTS MARKET PLACE AND STRONG INDICATORS OF THE SUBJECTS CURRENT ESTIMATED MARKET VALUE REFLECTING THE ACTIONS OF BUYERS AND SELLERS IN THE RECENT PAST. Comments and Conditions of Appraisal: THE CONCLUSION OF VALUE IS BASED ON THE ASSUMPTION THAT THE SUBJECT PROPERTY IS A PORTION OF A BUILDABLE LOT 35,512 S.F. iliation: ONLY THE MARKET APPROACH TO VALUE WAS USED WHEN ARRIVING AT THE SUBJECTS FINAL ESTIMATE OF HESE LES SELECT D WERE CONSIDERED THE BEST INDICATORS OF VALUE. THE MA E ET VALUE, AS 0 INE , OF SO CT PROPERTY AS OF NOVEMBER 3 2008 to be $ 450 000 QQ IL AW NCISCO DA SILVA ® Did ❑ Did Not Physically Inspect Property Review Appraiser if applicable) [Y2&] ~` `� Victoria Appraisals, Inc. (305) 448 -2322 Form LND — "WinTOTAL" appraisal software by a la mode, Inc. —1- 800 - ALAMODE LAND APPRAISAL REPORT MARKET DATA ANALYSIS File No. 1008034 ITEM I SUBJECT PROPERTY COMPARABLE NO. 4 COMPARABLE NO. 5 COMPARABLE NO. 6- Address 6488 SW 60TH AVENUE SOUTH MIAMI 7709 SW 67TH AVENUE SOUTH MIAMI Proximity to Subject ` 1.00 MILE Sales Price N/A r 549,000 3 ., i„ Price S.F.OF LAND N/A H $ 16.92 Data Source INSP. /COUNTY.REC REALQUEST /vML# M1258008 Date of sale and DESCRIPTION DESCRIPTION 1+(-)$ Ad ust. DESCRIPTION + - $ Adjust. DESCRIPTION + - Ad ust. Time Adjustment N/A LISTED -100,000 Location AVERAGE AVERAGE Sit iew 35,512 S.F. 32,452 S.F. +38,250 IMPROVEMENTS 832 S.F FRAME VACANT ZONING RS-4 RS -3 ROAD ACCESS PV.ASPHALT PV.ASPHALT FUNCTIONAL UTILITI AVERAGE AVERAGE Sales or Financing Concessions ML# M1203304 LISTED SINCE 01/08 LISTED SINCE 08/15/2008 Net Ad . (Total) a16 a- I% + -61,750 + + Indicated Value of Sub ect \ Net 11.2% ` 487 250 All," ', ,6� $ Comments: THE APPRAISER PROVIDED COMPARABLE SALE # 4 IS A CLOSED SALE IN THE SUBJECTS NEIGHBORHOOD IS PRESENTED AS ADDITIONAL SUPPORT FOR THE SUBJECTS ESTIMATED MARKET VALUE. APPRAISER'S CONCLUSION OF VALUE IS BASED UPON THE ASSUMPTION THAT THERE ARE NO HIDDEN OR UNAPPARENT CONDITIONS OF THE PROPERTY THAT MIGHT IMPACT UPON BUILDABILITY. APPRAISER RECOMMENDS DUE DILIGENCE BE CONDUCTED THROUGH LOCAL BUILDING DEPARTMENT OR MUNICIPALITY TO INVESTIGATE BUILDABILITY AND WHETHER PROPERTY IS SUITABLE FOR INTENDED USE. APPRAISER MAKES NO REPRESENTATIONS, GUARANTEES OR WARRANTIES. ALTHOUGH COMPARABLE SALE# 3 IS LOCATED IN A NEIGHBORING MUNICIPALITY THEY ARE WITHIN THE SUBJECTS MARKET AREA AND ARE CONSIDERED GOOD INDICATORS OF THE SUBJECTS CURRENT ESTIMATE OF MARKET VALUE. THE MUNICIPAL TAX BASE IS SIMILAR. 'IT SHOULD BE NOTED THAT THE SIGNATURE WILL ONLY BE DISPLAYED AND INSERTED BY THE SUPERVISORY APPRAISER ONCE THE REPORT IS SIGNED IT CANNOT BE EDITED UNLESS THE SUPERVISORY APPRAISER REMOVES IT. THE SIGNATURE OF THE REGISTER ASSISTANT REAL ESTATE APPRAISER AND THE CERTIFIED REAL ESTATE APPRAISER ARE PASSWORD PROTECTED. Victoria Appraisals, Inc. (305) 448 -2322 Form LND.(AC) — "tMnTOTAL" appraisal software by a la mode, Inc. —1- 800- ALAMODE File No. 10080341 Pa e #1 EXHIBIT C Form GA1 — "WinTOTAL" appraisal software by a la mode, inc. —1- 800 - ALAMODE File No. 10 8 4 Pa a #4 Subject Photo Page Borrower /Client N/A Property Address 6488 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Ap Code 33143 Lender CITY OF SOUTH MIAMI Subject Front 6488 SW 60TH AVENUE No No NIA Gross Living Area Total Rooms Total Bedrooms 16191 batnroom9 Location AVERAGE View 35,512 S.F. Site Quality Age Form PIC3x5.SR — "WinTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODE Subject Front sualect street Comparable Photo Page Borrower /Client N/A Property Address 6488 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL ZJp Code 33143 Lender CITY OF SOUTH MIAMI Comparable 1 6790 SW 72ND TERRACE Prox in ,nhiect n 87 mllfis Sales Price 450,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location AVERAGE View 36,067 S.F. Site Quality Age Comparable 2 7601 SW 63RD COURT Pmx in Snhirct n 75 mIIPg Sales Price 270,000 Gross Living Area Total Rooms I otal Bedrooms Tulal BalhfuemS Location AVFRAOF View 21,568 S.F. Site Quality Age Comparable 3 7005 SW 76TH STREET Prox to Subject 1.21 miles Sales Price 600,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location AVERAGE 1fiRIAl 47,111R C G Site Quality Age Form PIC3x5.CR — °WnTOTAL" appraisal software by a la mode, Inc. —1- 800 - ALAMODE Comparable Photo Page Borrower /Client N/A Property Address 6488 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL ZIp Code 33143 Lender CITY OF SOUTH MIAMI Comparable 4 7709 SW 67TH AVENUE Prox. to Subject 1.00 MILE Sales Price 549,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location AVERAGE View 32,452 S.F. 511" Uualdy Age Form PIC3x5.CR — "WinTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODE Location Map Borrower /Client NIA Property Address 6488 SW 60TH AVENUE city SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI .a ... sw 16th Tmmtre y SW fin St a la mode, inc. . ' d 4 1 i �. i Sw 1911 Si is . Aha das ttalya osAwg �n _ Thti1lw.. a.ast txal ".-Ow"Y sw 18th st 't2 N6tepMtay d' , °•q�,.-L^ id _ -SW t94h Ton- - - I -_ 3 ''. - ' SW 2011 St n y a SW 2&4 St I SW 71n06t i p ya . t $ - i 3w 23rd S1 I- SW23rd Carol Wtiy M- -,872, _T ,3 _.._. -._ —'T SW 24th St SW 24th st... _ 7 ... L.. — - i i t Atghhnte AVn � 1 i �.3W 25th St > 1 � , Vhgtvtla Avtr - SW 24th $1 < 4 ( 612" St - � � 1 d 1 - r Atiae11. AVG. ,Ahn ri Ave ..... .. t I kI SW 271h St SW 27th S' Ills Av 9ev1116 Ave t ' d4 ,6.> t.._ SW 28th St�,� I { Y SwCla Aa 5" e Coral Wa K3 a a #dn Aw eVlilage . 9 G a ... ` . age _ - -. - l m .. _w 36 w lao s 1 i .. i $ Atlastalle Avs Y t a� SW 31st St �+ , a.. SW Sind St i 1 _ > ar Or SW 33es SF I y,.itrA1WOA�,. ..... _.. SW 34th St 3111, 1st 'sw 34th st jj' m - V 826 c �i. 8W351h S1 SW 37th 3W 36th 54 sw 37th sts -SW 37ths11 SW 38th 81 5 u:. - .. Sw 38th St : - - ` ' 4 SW 18th St y i SW 381h !A i 1 i > �i Svp4re AVa Maros Q __' �.1 .. sW 39th SI - ` �. -56V 4t11h St 1� 3 Tmrege' $Y140tn 5t ..wdlan ,,, 876_ 9Yfa0th Si_ _ ....._. ...._ e I `',- ..: -� j> Sw42rost , ..... .. i �A�F Y SW 42na St m ( t y 1 I ( _ � m t) � ; _ Gafda Avc I + i tt - SWA3r41 St I „1 t C 'SW44dt St n. p - Y 1.... -` && 19 a Tropical Park a .s- rh ._ iN45m Si, a .' ffiN aBlh S�t I LAIF9 6 � Ofi� Rd Sw ` SW 49il SW 491h 61 SW t;�Sat•o.P'' I �l iWSHtst I CeMeaA"mt Cokd 874 f tt > 9 5 V, UEIno AVe, I �r .y�A Cnt Jna 1 F a r ( b $ attanAVG; r /� 1; > As N ' L. L. 5641 Si - t,TOOAVG '•U0Iv8ts� •� _l.� /- o f� I Sv s ° sw s6 h st .... .., ! ' 6661 St SUbject MI iQd�� 871 .shV 5891 S1 2 - ISW 56d1 Si i.. i t -" 6488 SW 60TH ,,r� ...Sw 50th. S1 Si T I !$ Comparable ] 6790 SW 72ND TERRACE sw 04 90 1 6881 �., Sri.._ 5l Ave L i 1 ..., `e p' ,� " a . 1 v� y ...6W 691h si 3�4i - i 5 AlMmhre L'myt, - i - SW i16d1 & � � �� 826 2 g° � �1 g. � � l , t � SW 70th sl -i - � m m_� - 1_' '— ...-.� > Q a I I C South Mlam( SW 72h0 sl �� W 74el 61 S ltryy(' y j } •1 1 1 .S�StN 7801 Si SW - sw0ahsi... ,., ..9_SW' _ TW61at Bt` I I sw m� st i i eam s ] SW 8301 7005 �Yd 85th St ,N SW I - I 1.21 miles 1 ' —SYd 80th Si „ Y - � 11 mile 0; 7 +c _swcmh st � � �S . sw 92At St � 6dt 94th St SW 9 s< - - F L '� a !R D A �y5w96thst... y a .._ .I SW 461.1 sf I, ` sw 113th af sw 90m 31 'M ( A M 1 D A -D _ j $ - o ! 1' ' -.. _ Oral St / Paaple d M ... 5A /tmta st 5w t, i. Traptcal Hamm s Sw t02ad asw room St � � � � I ! Gard9n 61 ' _.' 7 _ _ SW 904tH St ._ .. - �... I 2 _ .. 'SVd 104th, 3t...._ ,.SW 104th St _.. to - sw 105Yt St .. t ... sw tosth Tom - m (_. - - SW 1001h St - _ _ 'o QQ sw 10101h Sf ,007+5, -SYd 108th St d�� r ._ _ , f ' . tl� 1 i sy,/ 1119th 51 I Pin rcrest� .S1I SW 10901 Tg"O? wt Om,s 1 Gardens!, s t t � sW1tzu�st _� - ..:' 0.8 miles . Mictoc9it_r-_ i 17 Virtual Earth Pfnaerase ! ` sv+114mst','! ' g sw1/4mst s _.... a a J.AI.Grr:tit -a}r.� �1J3t7?'7SE'i 9P1J Form MAP.LOC - 'WinTOTAL' appraisal software by a la mode, inc. -1- 800- ALAMODE Flood Map Borrower /Client N/A Property Address 6488 SW 60TH AVENUE City SOUTH MIAMI County MIAMI -DADE State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Prepared for: InterF1 Victoria Appraiser & Realty (306) 448 -2322 nv e 6457 SW 60TH AVENUE www.interflood.com . 1- 800 - 252 -6633 SOUTH MIAMI, FL 33143 ..1�.. - �..xrra 0 R ¢ Gy - - -- no rporated h _. _. _ - - fl20635 NOR s� x Form MARFLOOD — "WinTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODE q sw t.ST 1E C1Ly - 0 South -� 25 FLOODSCAPE 120 F'600d Hazards Map Map Number in sT' s 12025CO276J - Etiectme Date 5'� 69rN 5� qF March 2,1994 t;,er r 0' 400" 800' 1200' IN Powered by Flood Source 877.77.FLOOD www floodsouroe oorn O 1999 -2008 Souroe Prose and /or Flood Source Corporations. Al rights reserved. Patents 6,631,326 and 6,678,615. Other patents pending. For Info: info@floodsouroe.corn. Form MARFLOOD — "WinTOTAL" appraisal software by a la mode, inc. —1- 800- ALAMODE Plat Map Borrower /Client N/A Property Address 6488 SW 60TH AVENUE City SOUTH MIAMI County MIAMI -DADS State FL Zip Code 33143 Lender CITY OF SOUTH MIAMI Form MAP.PLAT — "WinTOTAL° appraisal software by a la mode, Inc. —1- 800 - ALAMODE -ism 4 WNWR "Ami IffuntcARNIN '7600 XMININF, ff 31 101 1A SIR.; Al 014 rV_jVjtV-- adh �� MENU 2 ffin [arl Kw M34 1111W I c amili a��. ■ ■� �� i�Iluilll, n f:� i 4 f �I.ca�l KIF �r �� .,�I�� M. ��se IIi11IP� �. s�.l�i !! !! ■1!ll r�� ■�,�� 6��1�Y�' l;1I11L1� "� s Imo.: or mr f7M ss !! Mn ■f !' ' !! i ` —�i+ � � v■i� �� Ap! ELM1� ! ,I - �! '7'J"c+:f=, WIN; rye irererE+RSc?Sl!tirfi' O ��pj �I�K 6488sw611rnAVENUE L__ �� s :�:�1 i�q■i��I�IIV��'i�I t�– Form MAP.PLAT — "WinTOTAL° appraisal software by a la mode, Inc. —1- 800 - ALAMODE EXHIBIT D Vacant Land Contract ' " I " 4 FLORIDA ASSOCIATION OF REALTORS® 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 & less S80ft of N296ft of 7* E50ft of W150ft of E1/2 of NW1 /4 of NW1 /4 of SE1 /4 & less bed 1 00f of SW cor of E1/2 ofNW1 /4 of NW1 /4 of SE1 /4 TH 8* N184ft El27.59ft N55ft E105ft S235ft W232.59ft TO POB & less El 37.1 Oft 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: $ payable by Buyer in U.S. funds as follows: 17* (a) $ 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) $ 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 price will be determined based on a per unit cost instead of a fixed price) The unit used to 29* determine the purchase price is ❑ 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 * ❑ (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 fora late payment fee and acceleration at the mortgagee's 50 Buyer ( U and Seller ( acknowledge receipt of a copy of this page, which is Page 1 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 REALM" W•° 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. Sellerwill, within 10 days from Effective Date, give Buyerwritten notice of whether or not Sellerwill 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* X (2) Seller will provide an abstract as specified in Paragraph 8(a)(2) as title evidence. ❑ Seller X 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. 4/07 © 2007 Florida Association of REALTORS® All Rights Reserved Form generated by: TirueForms" 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 X (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 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 line, 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 C 2007 Florida 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, 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 800- 499 -9612 300 ESCROW AGENT AND BROKER 301 16. 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 Associate/License No. Selling FinnBrokerage Fee: ($ or % of Purchase Price) 3% 334 * Oliver von Gundlach Coldwell Banker 335 * Listing Sales Associate/License No. Listing Fimr/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 Buyer(s) and /or Seller(s) as agreed to in the Buyer's Disclosure and Information Form and /or 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 ( U and Seller ( acknowledge receipt of a copy of this page, which is Page 6 of 7 Pages. VAC -9 Rev. 4/07 © 2007 Florida Association of REALTORS® All Rights Reserved P— man —tort hv� Trnn Fnrme wane TruaFnrmc nnm RM -AOQ -QR1) 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: ❑ 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 ❑ a.m. ❑ p.m. on 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: 387* 388* Date: 389* Phone: 390* Fax: 391 * E -mail: 392* Date: 393* 394* Date: 395* Phone: 396* Fax: 397* E -mail: 398* Buyer: Print name: South Miami CRA Buyer: Print name: 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 (� (�> 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 800 -499 -9612 1 1 I'® 5t INC; RA. ` 2001 Making our Neighborhood a Great Place to Live, Work and Play" To: Honorable Cha�ir -ands SMCRA Board Members From: Stephen David, SMCRA Direct z, Date: November 10, 2008 ITEM No. f I PAYMENT FOR OUTSTANDING PROPERTY TAXES ON SMCRA CONVEYED AFFORDABLE HOUSING LOTS A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO AFFORDABLE HOUSING DEVELOPMENT; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE FUNDING IN THE TOTAL AMOUNT OF $9,683 TO THE EDFM CORPORATION FOR PAYMENT OF OUTSTANDING PROPERTY TAXES ON FORMALLY OWNED AND CONVEYED SMCRA AFFORDABLE HOUSING PROPERTIES LOCATED AT 5899 SW 67TH STREET (FOLIO 09- 4025- 028 -0300) AND 6400 SW 57" COURT (FOLIO 09- 4025- 015- 0030); AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 583 -31 -25 (PROPERTY MANAGEMENT/PROPERTY TAXES ACCOUNT); AND PROVIDING AN EFFECTIVE DATE BACKGROUND During the August 11, 2008 Meeting, staff presented information to the Board regarding outstanding property taxes on SMCRA conveyed affordable housing lots located at 5899 SW 67th Street and 6400 SW 57th Court (Exhibit A). Each of the two lots were previously conveyed to Greater Miami Neighborhoods Inc. for the development of affordable housing. During ownership by Greater Miami Neighborhoods, property taxes accrued on both properties due to neglect on the part of Greater Miami Neighborhoods in filing for tax exemption. Prior to the SMCRA conveying the properties to the newly approved developer, the EDFM Corporation the Agency was unaware of these previously incurred property taxes. As a result, the EDFM Corporation was required to satisfy these outstanding taxes during the official closing of the construction loans for the two properties (Exhibit B and Q. The total amount expended by the EDFM Corporation to satisfy the outstanding taxes is $5,266.77 for the affordable housing property located at 5899 SW 67th Street and $4,416.35 for 6400 SW 57th Court. Staff subsequently contacted the Miami -Dade County Tax Collector's Office and has requested relief of the outstanding property taxes based on the fact that the currently defunct Greater Miami Neighborhoods was a non - for - profit corporation. However at this time, staff has been unable to obtain relief or exemption of the outstanding property taxes. Based on the fact the EDFM Corporation was required to pay outstanding property taxes on SMCRA conveyed properties under the assumption of clear title, a reimbursement is due to the EDFM Corporation. Approval of the attached resolution shall authorize the SMCRA Director to disburse funding in the total amount of $9,683 to the EDFM Corporation for outstanding property taxes paid for SMCRA previously conveyed ,affordable housing properties located at 5899 SW 67th Street and 6400 SW 57th Court. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director to disburse funding in the total amount of $9,683 to the EDFM corporation for outstanding property taxes paid for SMCRA previously conveyed affordable housing properties located at 5899 SW 67t11 Street and 6400 SW 57th Court. Attachments: Draft Resolution August 11, 2008 Agenda Item Regarding Outstanding Taxes EDFM Construction Loan Closing Statements SD /MCGRUFF \PLANNING \CRA \Payment for Outstanding Property Taxes on SMCRA Conveyed Properties.doc I RESOLUTION NO. 2 3 4 A RESOLUTION OF THE CITY OF SOUTH MIAMI 5 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 6 RELATING TO AFFORDABLE HOUSING DEVELOPMENT; 7 AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE 8 FUNDING IN THE TOTAL AMOUNT OF $9,683 TO THE 9 EDFM CORPORATION FOR PAYMENT OF 10 OUTSTANDING PROPERTY TAXES ON FORMALLY 11 OWNED AND CONVEYED SMCRA AFFORDABLE 12 HOUSING PROPERTIES LOCATED AT 5899 SW 67TH 13 STREET (FOLIO 09- 4025 - 028 -0300) AND 6400 SW 57TH 14 COURT (FOLIO 09- 4025- 015 - 0030); AND CHARGING THE 15 TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 583 -31 -25 16 (PROPERTY MANAGEMENT/PROPERTY TAXES 17 ACCOUNT); AND PROVIDING AN EFFECTIVE DATE. 18 19 20 WHEREAS, during the August 11, 2008 Meeting, staff presented information 21 to the Board regarding- outstanding property taxes on SMCRA conveyed affordable 22 housing lots located at 5899 SW 67t' Street and 6400 SW 57ffi Court; and, 23 24 WHEREAS, each of the two lots were previously conveyed to Greater Miami 25 Neighborhoods Inc. for the development of affordable housing and during ownership 26 by Greater Miami Neighborhoods, property taxes accrued on both properties due to 27 neglect on the part of Greater Miami Neighborhoods in filing for tax exemption; and, 28 29 WHEREAS, prior to the SMCRA conveying the properties to the newly 30 approved developer, the EDFM Corporation the Agency was unaware of these 31 previously incurred property taxes and as a result, the EDFM Corporation was 32 required to satisfy these outstanding taxes during the official closing of the 33 construction loans for the two properties; 34 35 WHEREAS, the total amount expended by the EDFM Corporation to satisfy 36 the outstanding property taxes is $5,266.77 for the affordable housing lot located at 37 5899 SW 67th Street and $4,416.35 for the affordable housing lot located at 6400 SW 38 57th Court; 39 40 WHEREAS, staff subsequently contacted the Miami -Dade County Tax 41 Collector's Office and requested relief of the outstanding property taxes due to the 42 fact that the now defunct Greater Miami Neighborhoods was a non - for - profit 43 corporation but has been unable to obtain relief or an exemption for the outstanding 44 property taxes; and 45 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 44 WHEREAS, based on the fact the EDFM Corporation was required to pay the outstanding property taxes on SMCRA conveyed properties with clear title, a reimbursement for the total amount expended is due to the EDFM Corporation. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY: Section 1. The SMCRA Board authorizes the SMCRA Director to disburse funding in the total amount of $9,683 to the EDFM Corporation for outstanding property taxes paid for previously conveyed SMCRA owned affordable housing properties located at 5899 SW 67th Street (Folio No. 09- 4025- 028 -0300) and 6400 SW 57th Court (Folio No. 09- 4025 -015 -0030) . The total amount of $9,683 shall be charged to Account No. 610- 1110 -583 -3125 (Property Management/Property Taxes Account). Following funding disbursement the remaining balance in Account No. 610 - 1110 - 583 -31 -25 shall be $60,317. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of November, 2008. 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 Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: '1VSMCRA 2001 v,akino o:rr Pdeighb whoad o Great Place to Live, l /b, rr. and To: Honorable Chair and SMCRA Board Mewl From: Stephen SMCRA Date: August 11, 2008 ITEM No. AFFORDABLE HOUSING CONSTRUCTION UPDATE EXHIBIT A Regarding the two former Greater Miami Neighborhood's properties, construction by the EDFM Corporation has now commenced on both properties. The expected time for completion is approximately four months. The properties were previously conveyed by the SMCRA to the EDFM Corporation to complete construction of the homes. During the process of closing on their construction loan, the EDFM Corporation was required to pay outstanding property taxes on 'one of the affordable housing lots and were also informed that outstanding property taxes are also outstanding on the second property. While following up on this matter with Miami -Dade County, staff was informed that while under ownership by Greater Miami Neighborhoods, a not - for - profit tax exemption for the two properties was never filed with the County. As a result, outstanding taxes accrued on the two properties during ownership by Greater Miami Neighborhoods (Exhibit A). Staff subsequently requested that Miami -Dade County release the outstanding property taxes due to the fact that Greater Miami Neighborhoods was a not - for - profit corporation and because of the fact that affordable housing project was a City of South Miami initiated project. The amount of outstanding property taxes on the two properties is listed below: 6400 SW 57th Court (Folio No. 09- 4025 -015 -0030) 2006 Tax Year - $2,526.96 2007 Tax Year - $1,889.39 5895 SW 67th Street (Folio No. 09 -4025- 028 -0300) 2006 Tax Year - $3,009.33 2007 Tax Year - $2,257.44 Attachments: Letter Fran Miami -Dade County Regarding 2006 and 2007 Property Taxes SD /MCGRUFF \PLANNING \CRA \Affordable Housing Construction Update.doc August 5, 2008 Stephen David Director 6130 Sunset Drive South Miami, Fl. 33140 RE: Folio #09 - 4025 - 015 -0030 Folio #09 - 4025 - 028 -0300 Dear Mr. David: FINANCE DEPARTMENT OFFICE OF THE TAX COLLECTOR 140 W. FLAGLER STREET, ROOM 1407 MIAMI, FLORIDA 33130 -1574 Fax (305) 375 -4214 Phone (305) 375 -5762 This letter is in response to your inquiry to the Property Appraiser's Office regarding the above- mentioned folios. As of August 1, 2008 property taxes remained in unpaid status for . Folio #09 - 4025 - 015 -0030 and Folio# 09 -4025- 028 -0300 for the 2006 and 2007 tax year. I have provided you with a breakdown by folio and tax year for the folio numbers in question. Folio #09 - 4025 - 015 -0030 2006 Tax Year • Total taxes due are $2,526.96 through March 31, 2009 2007 Tax Year • Total taxes due are $1,889.39 through August 31, 2008 Folio #09 - 4025 - 028 -0300 2006 Tax Year •- Total taxes due are $3,009.33 through March 31, 2009 2007 Tax Year • Total taxes due are $2,257.44 through August 31, 2008 In order to bring your records to current paid status, please remit payment in the form of cashier's check or money order made payable to Miami -Dade Tax Collector's Office for the outstanding taxes and send to the attention of: Luis Mendoza Tax Collector Supervisor 2, Delinquent Unit Tax Collector's Office 140 West Flagler Street, 14th Floor Miami, Fl. 33130 If you require further assistance regarding this matter or additional information regarding property taxes, please contact Ms. Cristina Raposo, Tax Collector Manager, Ad Valorem Section of the Tax Collector's Office at raposo(a-),miamidade.gov or by calling 305 - 375 -5486. Sincerely, Cristina Raposo Tax Collector Manager EDFkA CORPORAT!ON 10021 SW 98th AVENUE MIAMI, FL 33176 Property Location (d different from above, 5895 -5899 SW 67 STREET MIAMI, FL 33143 Loan Number E08065244 L Settlement Charges 800 Items Payable in Connection 801. Loan Origination Fee % H( Appraisal Review to Credit Report - to 806. 807. 809. Tax Service Fee 810. Processing Fee 814. 815. to 901. Interest from 08/04/08 902. Mitigation Inspection 903. HAZ/HOMEOW /B. RISK Mtg Insurance Case No. with 1 TAX 6 9.96 to yrs to 1001 HAZ/COMM/B RISK 2 mo.@,$ 107151 imo. 1_002. Flood Ins mo.@$ /mo. 1003 City property taxes mo. $ /mo. 1004 County property taxes Mo.@$ /mo. 1005 Liability Ins mo Cam$ /mo. 1006. mo. @$ /mo. 1007. mo. @$ /mo. 1008. Aggregate Reserve 1100 Title Charges 1503.2007 Taxes(ESTIMATE) DADE COUNTY TAX COLLECTOR 1101 Settlement or Closing Fee to MYRON J. RAYVIS, ESQ. 1102. Abstract or Title Search to MYRON J. RAYVIS, ESQ. 1103. Cashier's Check to MYRON J. RAYVIS, ESQ. 1104 Doc Preparation Fee to 1505. 1105 Attorney's Fees to - 1106. Courier Fees to MYRON J. RAYVIS, ESQ. 1107. Certified Copies to (includes above item numbers: MYRON J. RAYVIS, ESQ. ) 1108. Title Ins. Policy/Mtge Modf to (includes above item numbers ATTORNEYS' TITLE INS l I. _ 1109 Lender's coverage 153,750-00 - 844.00 1110 Owner's coverage 1111 Lender's AttomnT' Fee MYRON J. RAYVIS, ESQ. 1112. AIM Endors MYRON J. RAYVIS, ESQ. 1113. 1200 Government Recording) and Transfer Charges 1201 Recording fees -_ HOME EQUITY MORTGAGE CORPL)RAI IUN, rIs successors anwor assigns EXHIBIT B 7333 CORAL WAY MIAMI, FL 33155 Settlement Agent . MYRON J. RAYVIS, ESQ. Place of Settlement 7333 CORAL WAY SUITE C Miami, Florida 33155 Settlement Date Disbursement Date File No. O8 /04 /08 08/04/08 08-1 is" M. Disbursement to Others 1501. HOLDBACK HEMC 87,469.85 1,535.00 3,765.00 1502.INTEREST RESERVE HEMC 10,000.00 1503.2007 Taxes(ESTIMATE) DADE COUNTY TAX COLLECTOR 2,708.8 100.00 1504.2006 TAXES (ESTIMATE) DADE COUNTY TAX COLLECTOR 3,611.19 195.00 1505. 55.00 300.00 1506. 1,200.00 1507. 1508. 1509. 278.88 1510. 1,294.00 1511. 1512. 1513. 215.66 1514. 1515. 1520. TOTAL DISBURSED enter on line 1603 N. NET SETTLEMENT 1600. Loan Amount Plus P.O.C. Credit 1601. Plus Cash /Check from Borrower 1602. Minus Total Settlement Charges line 1400 1603. Minus Total Disbursements to Others (line 1520 l 1604. Equals Disbursements to Borrower (after expiration of any applicable 103,789.96 123,000.00 19,210.04 103,789.9E n nr 350.00 150.00 27.50 100.00 100.00 844.00 have carefully rewe"a me nuu-,n �Q �•.• .. - ... - - beiief, it is a true and accurate statement of all remipts and disbursements made on my account or by me in this transaction. I further certify that I have received a copy of the HUD-1A Settlement statement EDFM A c6RPOR ION , FLORIDA CORPORATION MIRIAM i). RODRIGUF7. President -_ -/ Nov 06 08 02:51 p Fernando R. Rodriguez CHANGE ORDER 305 - 428 -3724 p.2 Loan # NA Date: Sept. 23, 2008 Owner's Name: City of South Miami Change Order #:1 Property Address: 5895 SW 67h Street Contractors Name: EDFM Corporation Contractors Address: 10021 SW 98t° Ave. Description of Work Change: • 11 1. County taxes 2006 2. County taxes 2007 TOTAL Owner Approval:. Contractor Approval: Date: Date: Estimator Approval: Date: $ 2,526.96 1,889.39 $4,416.35 ivau10 auu nuu#ca. an vvi,..rrc, [ EDFM CORPORATION 10021 SW 98th Avenue MIAMI, FL 33176 - - - °-- ---- - - - -- - HOME EQUITY MORTGAGE CORPORKIION, its successors ono /fir assigns 7333 CORAL WAY EXHIBIT C MIAMI, FL 33155 Property Location (if different from above) 6400 SW 57 COURT SOUTH MIAMI. FL 33143 Settlement Agent MYRON J. RAYVIS, ESQ. Place of Settlement 7333 CORAL WAY SUITE C Miami, Florida 33155 Loan Number Mtg Insurance Case No. E080785256 Settlement Date Disbursement Date File No. 09/24/08 09/24/08 08 -11562 L. Settlement Charges M. Disbursement to Others Boo. Items Payable in Connection with Loan 15ol. HOLDBACK HEMC 84,700.00 801. Loan Origination Fee % HOME EQUITY MORTGAGE 5,265.00 802. Loan Discount % HOME EQUITY MORTGAGE 6,435.00 1502. INTEREST RESERVE HEMC 10.000.00 803. Appraisal Review to 804. Credit Report to 1503. 2006 TAX CERT(ESTIMATE) DADE COUNTY TAX COLLECTOR 3,032.35 805. Lender's Inspection Fee to HOME EQUITY MORTGAGE 100.00 806. Mortgage broker Fee to 1504. 2007 TAXES(ESTIMATE) DADE COUNTY TAX COLLECTOR 2.298.90 807. Application Fee to 808. Funding Fee HOME EQUITY MORTGAGE 195.00 1505. eos. Tax Service Fee LSI TAX SERVICE 67.00 81o. Processing Fee HOME EQUITY MORTGAGE 300:00 1506. 811. Underwriting Fee HOME EQUITY MORTGAGE 1,200.00 812. 1507. 813. 814. .1508. 815. goo. Items Required by Lender to be Paid in Advance 1509. 901- Interest from 09/24 to 10 /01 @$ 41.63 /day 291.41 902. MIP/Mortgage Ins for to 1510. 903. HA7,/HOMEOW /B. RISK for yrs to 1511. 904. Builders' Risk P.O.C. - 1294.8 1512. 905. 1000. Reserves Deposited with Lender 1513. 1001. HAZ/COMM /B.RISK mo.@$ /mo. 1002. Flood Ins mo.@$ /mo. 1514. 1003. City property taxes mo. @$ /mo. 1004. County property taxes mo. @$ /mo. 1515. 1005. Liability Ins mo. @$ /mo. 1006. mo. @$ /Mo. 1520. TOTAL DISBURSED (enter on line 1603) 100,031.2 1007. mo.@$ /mo. 1008. N. MET SETTLEMENT 1100. Title Charges 1101. Settlement or Closing Fee to MYRON J. RAYVIS. ESQ. 300.00 1600. Loan Amount 117,000.0 1102. Abstract or Title Search to MYRON J. RAYVIS, ESQ. 200.00 1103. Cashier's Check to MYRON J. RAYVIS, ESQ. 60.00 Plus P.O.C. Credit 1601. Plus Cash /Check from Borrower 1104. Doc Preparation Fee to 1105. Attorney's Fees to 1602. Miners Total Settlement Charges (line 1400) 16,968.7 1106. Courier Fees to MYRON J. RAYVIS. ESQ. 65.00 1107. Certified Copies to MYRON J. RAYVIS, ESQ. (includes above item numbers: ) 100.00 1603. Minus Total Disbursements to Others (line 1520) 100,031.2 1108. Title Ins. Policy/Mtge Modf to ATTORNEY'S TITLE (includes above item numbers: ) 806.50 1604. Equals Disbursements to Borrower (after expiration of any applicable rescission period required by law) 0A 1109. Lender's coverage $ 146,250.00 -- 806.50 1110. Owner's coverage $ EDFM CORPORATION r ;:- :- 1111. Lender's Attorneys' MYRON J. RAYVIS, ESQ. 680.84 1112. A/M Endors MYRON J. RAYVIS, ESQ. 25.00 1113. 1200. Government Recording and Transfer Charges 1201, Recording fees 95.00 BYE. MIRIAM D. RODRIGUEZ, Pres)dent -- , 1202. City/county/stamps. Nov 06 08 02:53p Fernando R. Rodriguez CHANGE ORDER Loan # NA Date: Sept. 27.2008 Owner's Name: City of South Miami Change Order #:2 Property Address: 6400 SW 574h Court Contractors Name: EDFM Corporation Contractors Address:] 0021 SW 98`h Ave. Description of Work Change: •71 I 1. County taxes 2006 2. County taxes 2007 TOTAL Owner Approval: Contractor Approval: Estimator Approval: 305 - 428 -3724 p.7 $ 3,009.33 2,257.44 $5,266.77 Date: Date: Date: AZT L01 : f =1 2001 'Making our Neighborhood a Great Place to Live, Work and Play' To: Honorable Chair and SMCRA Board -Meml From: Stephen David / SMCRA Directo rle Date: November 10, 2008 ITEM No. / a% MULTI-FAMILY REHAB GRANT (BONNIE GILLIS) A RESOLUTION OF THE CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) RELATING TO HOUSING REHABILITATION; AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE MULTI - FAMILY REHABILITATION GRANT FUNDING IN THE AMOUNT OF $2,435 TO BONNIE GILLIS TO ASSIST IN THE REPLACEMENT OF DAMAGED KITCHEN CABINETS AT 6119 SW 69TH STREET, UNIT #43 AND CHARGING THE TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 553 -99 -30 (RESIDENTIAL REHABILITATION/MULTI- FAMILY GRANT ACCOUNT); AND PROVIDING AND EFFECTIVE DATE. BACKGROUND As part of the FY 08/09 Budget approval process, a total of $6,000 has been allocated by the Board for the SMCRA Multi- Family Rehabilitation Program. Based on prior direction by the Board the rehabilitation program currently focuses on serving the elderly and income challenged. Staff recently received a multi - family rehabilitation grant application from Ms. Bonnie Gillis. Ms. Gillis is an elderly homeowner within the Lee Park Condominium Community. The request is for a grant funding in the amount of $2,435 to replace badly damaged kitchen cabinets at 6119 SW 69th Street, Unit # 43. Attached as Exhibit A, is a checklist of program eligibility requirements and a copy of the application submitted by Ms. Gillis. All requirements of the program have been met by Ms. Gillis. Three individual cost repair estimates have been provided as Exhibits B, C and D. Based on the estimates received, the estimate from A.L. Jackson Superior Home Improvements in the amount of $2,435 appears to be the most cost effective. Approval of the attached resolution shall authorize the SMCRA Director to disburse funding in the total amount of $2,435 to Ms. Bonnie Gillis to replace badly damaged kitchen cabinets. RECOMMENDATION Staff recommends approval of the attached resolution authorizing the SMCRA Director to enter into the grant agreement attached as Exhibit E for grant funding in the total amount of $2,435 to Ms. Bonnie Gillis to replace badly damaged kitchen cabinets at 6119 SW 69" Street, Unit # 43. Attachments: Program Requirement Checklist Grant Application and Ancillary Documents Home Improvement Estimates (3) Draft Grant Agreements SD/MCGRUFF \PLANNING \CRA\Ivlulti- Family Rehabilatation Grant Award - Bonnie Gillis.doc I RESOLUTION NO. 2 3 4 A RESOLUTION OF THE CITY OF SOUTH MIAMI 5 COMMUNITY REDEVELOPMENT AGENCY ( SMCRA) 6 RELATING TO HOUSING REHABILITATION; 7 AUTHORIZING THE SMCRA DIRECTOR TO DISBURSE 8 MULTI - FAMILY REHABILITATION GRANT FUNDING IN 9 THE AMOUNT OF $2,435 TO BONNIE GILLIS TO ASSIST IN 10 THE REPLACEMENT OF DAMAGED KITCHEN CABINETS 11 AT 6119 SW 69TH STREET, UNIT #43 AND CHARGING THE 12 TOTAL AMOUNT TO ACCOUNT NO. 610 - 1110 - 553 -99 -30 13 (RESIDENTIAL REHABILITATION /MULTI- FAMILY 14 GRANT ACCOUNT); AND PROVIDING AND EFFECTIVE 15 DATE 16 17 WHEREAS, as part of the FY 08/09 Budget approval process, a total of 18 $6,000 has been allocated by the Board for the SMCRA Multi- Family Rehabilitation 19 Program; and 20 21 WHEREAS, based on prior direction by the Board the rehabilitation program 22 currently focuses on serving the elderly and income challenged; and 23 24 WHEREAS, staff recently received a multi- family rehabilitation grant 25 application from Ms. Bonnie Gillis, an elderly homeowner within the Lee Park 26 Condominium Community for a total grant request of $2,435 to replace badly 27 damaged kitchen cabinets at 6119 SW 69th Street, Unit # 43; and 28 29 WHEREAS, Three individual cost repair estimates have been provided for 30 the kitchen cabinet replacement work in the amounts of $2,435, $2,500 and $3,210; 31 and 32 33 WHEREAS, of the three estimates received, the cost estimate received from 34 A.J. Jackson Inc. in the amount of $2,435 is the most cost effective; and 35 36 WHEREAS, based on the established eligibility criterion established for the 37 program, Ms,. Gillis has substantially met each of the criterion; and 38 39 WHEREAS, the SMCRA Board desires to facilitate new construction and 40 residential rehabilitation of existing housing throughout the SMCRA district. 43 NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH MIAMI 44 COMMUNITY REDEVELOPMENT AGENCY: Page 1 of 2 1 2 3 4 5 6 7 8 11 1� 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 43 44 45 Section 1. The SMCRA Board authorizes the SMCRA Director enter into agreement with Bonnie Gillis to disburse funding in the total amount of $2,435 for the replacement badly damaged kitchen cabinets at 6119 SW 69th Street, Unit # 43 and charging the total amount to Account No. 610 - 1110 - 553 -99 -30 (Homeowner Assistance Grant Funding Account). Following funding disbursement the remaining balance in Account No. 610 -1110- 553 -99 -30 shall be $3,500. 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 November, 2008. 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 Wiscombe: Board Member Palmer: Board Member Beckman: Board Member R. Williams: Board Member L. Williams: 2001 "Making our Neighborhood a Great Place to Live, Work and Play " EXHIBIT A SINGLE - FAMILY RESIDENTIAL REHABILITATION PROGRAM (Grant Eligibility Checklist) Applicant:. Ms. Elaine Butler Program Eligibility Criteria Age 65 Years or Older Annual Income of $21,244 or Less Health and or Safety Related Improvements Eligible Functional Home Improvements ❑ Improvements Correct Code Infractions Required Program Documentation Completed Application Form Letter of Intent Valid Photo Identification a Income Verification Statement Miami -Dade County Tax Notice Cost Estimates From At Least Two Firms Photographs of Existing Conditions " 'Oury Community Redevelopment Agency CRA • A-CORP RATED 6130 Sunset Drive, South Miami, Florida 33143 o RA r Telephone: (305)663 -6338 Telefacsimile: (305)663 -6345 Multifamily Rehabilitation Program Application Form TAME OF APPLICANT: PHONE #:3o n �� ' �� FAX #: ROR R Y ADDRESS t� EGA, DESCRIPTION. LOTS) BLOCK SUBDIVISION NAME OF PROPER Y OWNER: �7 _ (!T� PHONE #: 3 &S7 JCS i rl N� d t FAX #: OWNER'S ADDRESS: AGENT (e.g., attorney, architect, engineer, or contractor) PHONE #: AGENT'S ADDRESS: FAX #: DESCR /IPTIlON OF MULTIFAMILY REHABILITATION PROJECT: r PLEASE CHECK ALL THAT APPLY: Letter of intent / Proof of ownership or letter from owner Current survey (if required by City Code Site Plan (if required by City Code) �:- Contractors' Price Estimates (estimates from a minimum of three firms shall be provided.) Letter from owner stating commitment to non - eviction and rent stabilization requirements The undersigned has read this completed application and represents that the information and all submitted materials are true and correct to the best of the applicant's knowledge and belief.. Applicant's Signature and U �� Date OFFICE USE ONLY: Date Filed Date of CRA Advisory Board Meeting Date of CRA Board Meeting_ LF-E 9_%4 Coi2dom&21um 6110 cS.(IV 68tg cStzeet i ). Box 43132& cSouL Aaml, 9folida 33143 (305 ) 665 -6221 13.x - 666 -3856P mall.' f #aJ 6110 @ of co. AUGUST 25,2008 TO: CITY OF SOUTH MIAMI,CRA. FROM: JEAN LARKIN - SCOTT, SITE MANAGER RE: BONNIE GILLIS 6119 SW. 69th STREET UNIT#43 SOUTH MIAMI,FL. 33143 MRS. GILLIS, IS A ELDERY LADY,LONG TIME RESIDENT OF LEE PARK CONDOMINUM. PAYS HER ASSOCATION FEE /WATER BILL IN A TIMELY MANNER. ANY QUESTIONS FEEL FREE TO CALL ME AT 305 - 665 =6221. if-,�c CAROO�Inu w �•q hr f The Sunshine State nR n•,; ' E6'HN MAE GT1:II5 6119 SW 69 ST MIAMI,,.FL, 33149-0000' 12 -08 -22 .,F Sr-;02 r •. •. < 12 i.6 -1993 t 0420 073- 22 -9 4$ -0 a..•PERMANENT ID CARD FL RESIDENT —YES .'`00 -00 =0000. /5 o, L'o . (p CA �7i��s Miami -Dade County. Real Estate Tax Information Page 1 of 1 Show Me: Prior Years Property Taxes Today's Date: 11/05/2008 Last Update: 11/03/2008 Tax Year: 2008 Folio Number: 09 40250730430 SOUTH MIAMI Search By: Owner's Name: BONNIE MAE GILLIS Select Item ��, Property Address: 6119 SW 69 ST 43 Detail Tax Information: Real Estate Tax Info 2008 Taxes Prior Years Taxes Due 2008 Ad Valorem 2008 Non -Ad Valorem 2008 Back Assessments 2008 Enterprise Folio 2008 Historical Abatements 2009 Quarterly Payments 2008 Tax Notice /Memorandum © 2002 Miami -Dade County. All rights reserved. As of 11/05/2008 no prior years taxes due. Amounts due are subject to change without notice. Contact Information E -Mail: ro tax miamidade.gov (305) 270 -4916 Downtown Office: 140 W Flagler St., Room 101 Miami, FL 33130 South Miami -Dade Office: 10710 SW 211 St, Room 104 Miami, FL 33189 Office Hours: Mon - Fri 8:00 am - 5:00 pm Related Links: Tax Collector Property Appraiser Florida State Dept of Revenue 0 Property Tax Home I Real Estate Tax Info 12008 Taxes I Prior Years 12008 Non -Ad Valorem 2008 Back Assessments 1 2008 Enterprise Folio 12008 Historical Abatements 12009 Quarterly Payments 1 2008 Tax Notice /Memorandum Miami -Dade Home I Using Our Site I About I Phone Directory I Privacy I Disclaimer E -mail your comments, questions and suggestions to Webmaster http: / /egvsys.miamidade.gov :1608 /wwwsery /ggvt /txcaw03.dia ?folio= 094025073 0430 11/5/2008 * ** REC 2008247 155044 H69D5CE0 C4O6 CIPQYAG PQAG (F -G51 ) SOCIAL SECURITY ADMINISTRATION Date: September 3, 2008 Claim Number: BONNIE MAE GILLIS 6119 SW 69 ST MIAMI FL 33143 -3416 * ** You asked us for information from your record. The information that you requested is shown below. If you want anyone else to have this information, you may send them this letter. Information About Current Social Security Benefits Beginning December 2007, the full monthly Social Security benefit before any deductions is ...... $ 838.80 We deduct $96.40 for medical insurance premiums each month. The regular monthly Social Security payment is ........ $ 741.00 (We must round down to the whole dollar.) Social Security benefits for a given month are paid the following month. (For example, Social Security benefits for March are paid in April.) Your Social Security benefits are paid on or about the third of each month. Information About Past Social Security Benefits From December 2006 to November 2007, the full monthly Social Security benefit before any deductions was .......... ..............................$ 820.00 We deducted $93.50 for medical insurance premiums each month. The regular monthly Social Security payment was ....... $ 726.00 (We must round down to the whole dollar.) Date of Birth Information The date of birth shown on our records is December 8, 1922. Other Important Information SENT BY I04. Medicare Information You are entitled to hospital insurance under Medicare beginning December 1987. You are entitled to medical insurance under Medicare beginning December 1987. Type of Social Security Benefit Information You are entitled to monthly retirement benefits. If You Have Any Questions If you have any questions, you may call us at 1- 800 - 772 -1213, or call your local Social Security office at 305 - 227 -2726. We can answer most questions over the phone. You can also write or visit any Social Security office. The office that serves your area is located at: SOCIAL SECURITY 11401 W FLAGLER ST MIAMI; FL 33174 If you do call or visit an office, please have this letter with you. It will help us answer your questions. OFFICE MANAGER v� ,l` el{ a ♦i'1\► / \JV /r ✓vr a..avvaa a ff'o . _�� _ - - - - -- CELL 305 - 905- 7083.OFFICE 305 - 254- 2080• FAX 305 - 254 -9610 Vann <aL SUBMITTED TO: NAME 2; i ; i1,1I'�/1 -- i ADDRESS PHONE WE HEREBY PROPOSE TO OF WORK TO BE PERFOMED AT: EXHIBIT B DATE OF PLANS NECESSARY FOR THE COMPLETION All Material is guaranteed to be as specked, and the above work to be performed in accordance with the drawings and /or`specfications submitted for above work, and completed in a substantial workmanlike manner for the sum of Dollars ($ ) with payments to be made as follows: DEPOSIT % 24 HRS BEFORE JOB STARTS BALANCE -% 24 HRS BEFORE JOB ENDS Any alteration or deviation from above spedjlcotions Involving extra costs will be executed only upon written order, and will become an extra charge over and above the estimate. All agreements contingent upon strikes, accidents, or delays are beyond our control. Respectfully submitted Per Note this proposal may be withdrawn by us if not accepted within 10 days ACCEPTANCE OF PROPOSAL The above prices, specifications and conditions are satisfactory and are hereby accepted. You are authorized to do the work as specified. Payments will be made as outlined above. Signature Date Signature *A.L. JACKSON SUPERIOR HOME IMPROVEMENTS* CELL 305-905-7083e OFFICE 305 - 254 - 2080 *FAX 305- 254 -9610 PROPOSAL SUBMITTED TO: NAME ADDRESS PHONE WORK TO BE PERFOMED AT: ADDRESS DATE OF PLANS WE HEREBY PROPOSE TO PERFORM THE LABOR NECESSARY FOR THE COMPLETION r.TA All Material is guaranteed to be as specked, and the above work to be performed in accordance with the drawings and /or specifications submitted for above work, and completed in a substantial workmanlike manner for the sum of Dollars ($ _)with payments to be made as follows: DEPOSIT % 24 HRS BEFORE JOB STARTS BALANCE �y % 24 HRS BEFORE JOB ENDS Any alteration or deviation from above specifications involving extra costs will be executed only upon written order, and will become an extra charge over and above the estimate. All agreements contingent upon strikes, accidents, or delays are beyond our control. I ACCEPTANCE OF PROPOSAL The above prices, specifications and conditions are satisfactory and are hereby accepted. You are authorized to do the work as specified. Payments will be made as outlined above. Signature Date Signature EXHIBIT C Al material is guaranteed to be as specified. An work to be completed in a workmanlike AL16aZed manner according to standard practices. Any alteration or deviation from above specifications Signature involving extra costs will be executed only upon written orders, and will become an extra charge over and above the estimate. All agreements contingent upon strikes, accidents or delays beyond our control. Owner to carry fire, tomado, and other necessary insurance. Note: This proposal maybe withdrawn We carry general liability insurance. by us if not accepted within Days Lkre tmtrB of Fropusal —The above prices, specifications and conditions are satisfactory and are hereby accepted. You are authorized to do the work specified. Payment will be made as outlined above. Date of Acceptance 2 t 1 1 CUMMINGS HOME IMPROVEMENT CORP. D /B /A CUMMINGS KITCHEN & BATH For Fine Cabinetry & interior Remodeling .9336 NW 13 St., Miami, FI 33172 Ph. (305) 593 -5776 • Fx. (305) 593 -5776 PROPOSAL SUBMITTEDTO tJl PHONE 3OG 6 DATE 3t STREET JOB NAME CITY, STATE. ZIP CODE i JOB LOCATION lQ t ARCHITECT DATE OF PLANS JOB PHONE We hereby submit specifications and estimates for. C A -T--6 6 1q: -0L—EX-% . T , -D - cAS�_cow_(�. —_ w�_Lp— c�uL3. Too u.— zAc.Ac-.T-FLmj L p_ es II ZE Fr"jaoje hereby to furnish material and labor - complete in accordance with above specifications, for the sum of: Dollars ($ 2 ti O O . O�0 ). Payment to b made as follows: %0 Al material is guaranteed to be as specified. An work to be completed in a workmanlike AL16aZed manner according to standard practices. Any alteration or deviation from above specifications Signature involving extra costs will be executed only upon written orders, and will become an extra charge over and above the estimate. All agreements contingent upon strikes, accidents or delays beyond our control. Owner to carry fire, tomado, and other necessary insurance. Note: This proposal maybe withdrawn We carry general liability insurance. by us if not accepted within Days Lkre tmtrB of Fropusal —The above prices, specifications and conditions are satisfactory and are hereby accepted. You are authorized to do the work specified. Payment will be made as outlined above. Date of Acceptance 2 t 1 1 From (480.1 393-4334 Wed 27 Aug 2008 08:04:15 PRA kIST Page I of 2 EXHIBIT D KITCHEN & BATH CABINET REF, INC. www.Glhan QeY o u rKitc lien. coin CONTRACT Warehouze:1=44 s.w. 128 at Miami F! 33100 Ph:(305)342-5173 (954)446-8949 Fax-.(480)393-4334 C3ate: 13(2712008 Lie Z, ! ns 9 C.C.002BS001 17 E-nall : Customer Name, LEE PARK APT 4t Address: City: Istate: KITCHEN CABINETS -Phone: orty Descrlptlon UNIT Total T- I Coin late now set of Htchan cabinets made of melamine inside &decorative lhermoloildoors cathedral and sqq acre design. INCLUDED: Wilsonart countert op & backzplash. waste basket crown inalditig,decorative glass doors,stainless steel knobs. Delivefy and Installation. Waste and removal. $3,000.00 Option 2. The same kitchen cabinets but gWn doors j Melamine 13 c will be $ 2,400.00 + tax .... $2,563.00 TOTAL...... ............ COLORS; 50% DEPOSIT 40% DELIVERY 10% COMPLETION SUBTOTAL. $3,000.00 $1,805.00 $1,264.00 Tax 70/0 $210.00 $321.00 Instal lab on Date: 4weeks work completed. Notes: Thlsprlms app4e3 for all apts at lee park which kitchen are considered the same lay -out. No elect,ical or p!urnbirG �:vork included No appltances included. TOTAL $3,210.00 Accepled:— Dale! ww I Cie Q-w ltg EXHIBIT E SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY GRANT PROGRAM AGREEMENT FOR MULTI - FAMILY REHABILITATION THIS GRANT AGREEMENT is entered into this I 11h. day of November 2008 between the SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY (Agency), and Mrs. Bonnie Gillis of 6119 SW 691h. Street Unit 43 building 8 Miami, Florida 33143 (Grantee), (the Parties). WITNESSETH: WHEREAS, the Agency has budgeted funds to provide grants benefiting applicants who rehabilitate single - family property in the Agency's redevelopment area; and WHEREAS, the Grantee will perform the services required under the Agency's program. NOW, THEREFORE, the Parties agree as follows: ARTICLE I SCOPE OF SERVICES The Grantee shall provide the rehabilitation of single - family property as shall be approved by the City of South Miami's building official, and as attached in the Scope of Services labeled Exhibit "1." ARTICLE II CONDITION OF SERVICES The Grantee agrees to the following: a) The rehabilitation shall benefit very low, low, or moderate income City of South Miami residents. b) Maintain records including, but not be limited to, the following: 1. Information identifying household income, head of household, ethnicity, race and gender, to the extent allowed by law; 2. Other documentation required by the Agency. C) The Grantee shall not, for a period of three (3) years from the execution of this agreement, rent or otherwise convey the property or any portion of the property. d) Allow the Agency and /or City of South Miami officials on the premises and give access to inspect the site and building for code violations. This right may be exercised at any time, upon reasonable notice of not less than forty -eight (48) hours, except in an emergency. C) The Grantee shall, to the extent permitted by law, allow all necessary personal and financial background investigations to be conducted by the Agency. f) The Grantee shall not use the Premises, or any portion, or permit the same to be used for any illegal, immoral or improper purposes, nor to make, or permit to be made, any disturbance, noise or annoyance whatsoever detrimental to the premises or the comfort and peace of the inhabitants of the vicinity of the demised premises. Any violation of this provision within three (3) years from the execution of this Agreement shall result in the entire grant being repaid by the Grantee to the Agency. ARTICLE III TERM OF AGREEMENT This Agreement shall be deemed effective upon execution by both parties, and shall terminate on Three (3) years from November 11, 2008. A schedule of completion regarding all exterior and interior improvements is attached as Exhibit "2." ARTICLE IV AMOUNT OF GRANT The Agency shall award the Grantee an amount not to exceed, $2,435' Dollars. Payment shall be made by providing 50% of the total grant amount within.forty -five (45) days of the execution of all necessary documents, including this Agreement, and the remaining 50% within 14 days of all required certificates and approvals from any governmental entity of the rehabilitation work and submittal of proof of expenditures. Never shall the amount of the grant exceed the cost of the expenditures relating to the rehabilitation. ARTICLE V DEFAULT For purposes of this Agreement (and the documents referenced or incorporated), a default shall include without limitation the following acts or events of the Grantee, its agents and employees, as applicable and as further detailed below: (1) Failure to comply with applicable federal, state and local regulations and laws. (2) Breach regarding any of the terms and conditions of this Agreement. 2 In the event of a breach, the Agency shall receive back the Grant amount and may exercise all rights including the rights to bring all legal and /or equitable actions in Miami -Dade County, Florida, in order to enforce the Agency's right and remedies against the Grantee. The Agency shall be entitled to recover all costs of such actions including a reasonable attorney's fee, at trial and appellate levels, to the extent allowed by law. ARTICLE VI AMENDMENTS Any alterations, variations, modifications or waivers or provisions of this Agreement shall only be valid when they have been reduced to writing, duly approved and signed by both parties, and attached to the original of this Agreement. This Agreement contains all the terms and conditions agreed upon by the parties. No other agreement, oral or otherwise, regarding the subject matter of this Agreement shall be deemed to exist or bind any of the parties. ARTICLE VII TERMINATION It is expressly understood and agreed that in the event of curtailment or non - availability of Grant funds, this Agreement will terminate effective as of the time that it is determined by the Agency that funds are no longer available. In the event of such determination, the Grantee agrees that it will not look to nor seek to hold liable the Agency for the further performance of this Agreement and the Parties shall be released from further liability each to the other under the terms of this Agreement. ARTICLE VIII INDEMNIFICATION The Grantee shall defend, indemnify and hold harmless the Agency, its officers, employees and agents, against any claims, suits, actions, damages, proceedings, liabilities and costs (including attorney's fees) arising from or in connection with this Agreement or any contracts the Grantee may enter into with third parties pursuant to this Agreement. The Grantee shall pay all claims and losses of any nature, and shall defend all suits, on behalf of the Agency, its officers, employees or agents when applicable and shall pay all costs and judgments which may issue. ARTICLE IX AUDIT AND INSPECTIONS At any time during normal business hours and as often as the Agency may deem necessary, there shall be made available to the Agency the right to audit and examine all contracts, invoices, materials, payrolls, records of personnel, conditions of employment and other 3 data relating to matters covered by this Agreement. It is further understood that all records and supporting documents pertaining to this Agreement shall be kept for a minimum period of three (3) years from the date of expiration of this Agreement and shall be to the extent required by law, be public records available for inspection and copying. If any litigation, claim, negotiation, audit or other action involving the records has been started before the expiration of the three year period, the records must be retained until completion of the action and resolution of all issues which arise. If during the course of an audit, the Agency determines that any payments made to the Grantee do not constitute an allowable expenditure, the Agency will have the right to deduct /reduce those amounts from their related invoices. The Grantee must maintain records necessary to document compliance with the provisions of the Agreement. ARTICLE X NOTICES It is understood and agreed between the parties that all notices which may arise in connection with this Agreement shall be considered sufficient when made in writing and mailed or delivered to the appropriate address: If to the Agency: South Miami Community Redevelopment Agency 6130 Sunset Drive South Miami, FL 33143 Attn: Executive Director Grantee: Bonnie Gillis 6119 SW 69th. Street South Miami, FL 33143 (305) 666 -4259 ARTICLE XI SUBCONTRACTS The Grantee agrees that no assignment or subcontract will be made in connection with this Agreement without the express written consent of the Agency. 4 ARTICLE XII SEVERABILITY OF PROVISIONS If any provision of this Agreement is held invalid, the remainder of this Agreement shall not be affected thereby if such remainder would then continue to conform to the terms and requirements of applicable law. ARTICLE XIII PROJECT PUBLICITY The Grantee agrees that any news release or other type of publicity pertaining to the Program must recognize the Agency as an entity which provided funds for the project. [The rest of this page is intentionally left blank.] ARTICLE XV LIMITATION OF LIABILITY The Agency desires to enter into this Agreement only if in so doing the Agency can place a limit on the Agency's liability for any cause of action arising out of the Agreement, so that its liability will never exceed the agreed sum of $2,435 Dollars Grantee expresses its willingness to enter into this Agreement with Grantee's recovery from the Agency for any action or claim arising from this Agreement to be limited to 1. $2,435 ' Dollars. Payments under the Agreement shall be set -offs against any award of damages against the Agency. Accordingly, and notwithstanding any other term or condition of this Agreement, Grantee agrees that the Agency shall not be liable to Grantee for damages in an amount excess of _ Dollars, for any action or claim of the Grantee . or any third party arising out of this Agreement. Nothing contained in this paragraph or elsewhere in this Agreement is in any way intended to be a waiver of the limitation placed upon Agency's liability as set forth in Chapter 768, Florida Statutes. Additionally, the Agency does not waive sovereign immunity, and no claim or award against the Agency shall include attorney's fees, investigative costs or prejudgment interest. IN WITNESS WHEREOF, the parties have executed this Agreement by their respective proper officers duly authorized the day and year first above written. ATTEST GRANTEE ATTEST Secretary APPROVED AS TO FORM General Counsel 6 Title: SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY Executive Director CITY OF SOUTH MIAMI COMMUNTIY REDEVELOPMENT AGENCY MULTI - FAMILY RESIDNTIAL PROGRAM MORTGAGE This Mortgage made on the 111nday of November 2008, between Bonnie Gillis, a single, woman, hereinafter called the Mortgagor, residing at 6119 SW 69th Street Miami Florida Unit 43 Building 8 and the City of South Miami Community Redevelopment Agency (Mortgagee). WITNESSETH: WHEREAS, the Mortgagor desires to secure the payment of an indebtedness in the principal amount of .$2,435' Dollars with interest payable in accordance with a Promissory Note bearing even date with this Mortgage which is attached as "Schedule A" and made a part of this Mortgage, and all other indebtedness which the Mortgagor is obligated to pay to the Mortgagee pursuant to the provisions of the Note of this Mortgage, hereby grants, conveys and mortgages to the Mortgagee the parcel of land situated in Miami -Dade County, Florida and described as follows: LEE PARK CONDO UNIT 43 BLDG 8 UNDIV 091061 % INT IN COMMON ELEMENTS OFF REC 18758-611 OR 18770 -2805 0899 5 TOGETHER with all appurtenances and all the estate and rights of the Mortgagor in and to such property or in any way appertaining, all buildings and other structures attached to, or used in or in the operation of, any such land, buildings or structures which are necessary to the complete use and occupancy of such buildings or structures for the purposes for which they were or are to be erected or installed, including but not limited to all heating, plumbing, bathroom, lighting, cooking, laundry, ventilating, refrigerating, incinerating and air - conditioning equipment and fixtures, and all replacements and additions, whether or not the same are or shall be attached to such land, buildings or structures in any manner. TOGETHER with any and all awards made for the taking of the mortgaged property, or any part thereof (including any easement) by the exercise of the power of eminent domain, including any award for change of grade of any street or other roadway, which awards are assigned to the Mortgagee and are deemed a part of the mortgaged property, and the Mortgagee is authorized to collect and receive the proceeds of such awards, to give the proper receipts and acquittance, and to apply the same toward the payment of the indebtedness secured by this Mortgage, notwithstanding the fact that the amount owing may not then be due and payable; and the Mortgagor agrees, upon request by the Mortgagee, to make, execute and deliver any and all assignments and other instruments sufficient for the purpose of assigning each such award to the Mortgagee, free, clear and discharged of any encumbrances or any kind and nature; and TOGETHER with all right, title and interest of the Mortgagor in and to the land lying in the streets and roads in front of and adjoining the above described land (all the above described land, buildings, other structures, fixtures, articles of personal property, awards and other rights and interests being collectively call the "Mortgaged Property "). TO HAVE AND TO HOLD the Mortgaged Property and every part unto the Mortgagee, its successors and assigns forever for the purpose and uses set forth. The Mortgagor further covenants and agrees with the Mortgagee, as follows: 1. The Mortgagor will promptly pay the principal of and interest on the indebtedness evidenced by the Note, and all other charges and indebtedness provided in the Note and in this Mortgage, at the times and in the manner provided in the Note and in this Mortgage. 2. The Mortgagor will pay when due all ground rents, if any, and all taxes, assessments, waiver rates and other governmental charges, fines, and impositions of every kind and nature imposed on the mortgaged property or any part, and will pay when due every amount of indebtedness secured by any lien to which the lien of this Mortgage is expressly subject. 3. This Mortgage and the Note were executed and delivered to secure moneys advanced in full to the Mortgagor by the Mortgagee as or on account of a loan evidenced by the Note, for the purpose(s) described or referred to in the City of South Miami Community Redevelopment Agency Multi - Family Program dated_March 5, 2001, to or on the mortgaged Property, and for such other purpose, if any. 4. No building or other structure or improvement, fixture, or personal property managed shall be removed or demolished without the prior written consent of the Mortgagee. The Mortgagor will not make, permit or suffer any alteration of or addition to any building or other structure or improvement to be erected or installed upon the mortgaged property or any part, nor will the Mortgagor use, or permit or suffer the use of any of the mortgaged property for any purpose other than the purpose or purposes for which the same is now intended to be used, without the prior written consent of the Mortgagee. The Mortgagor will maintain the mortgaged property in good condition and state of repair and will not suffer or permit any waste to any part and will promptly and with all the requirements of federal, state and local governments, or of any departments, divisions or bureaus, pertaining to such property. 5. The Mortgagor will not voluntarily create, or permit or suffer to be created or to exist, on or against the mortgaged property, or any part, any lien superior to the lien of this Mortgage, exclusive of the lien or liens, if any, to which this Mortgage is expressly subject, as set forth in the granting clause above, and will keep and maintain the same from the claims of all parties supplying labor or materials which will enter into the construction or installation of improvements. This Mortgage shall have priority over all other encumbrances except a purchase money first mortgage. 6. a) The Mortgagor will keep all buildings, other structures and improvements, including equipment, now existing or which may be erected or installed on the land mortgaged, insured against loss by fire and other hazards, casualties and contingencies, in such amounts and manner, and for such periods, all as may be required from time to time by the Mortgagee. Unless otherwise required by the Mortgagee, all insurance shall be affected by Standard Fire and Extended Coverage Insurance policies, in amounts not less than necessary to comply with the coinsurance clause percentage of the value applicable to the location and character of the property to be covered. All such insurance shall be carried in companies approved by the Mortgagee and applicable to the location and character of the property to be covered. All such insurance shall be carried in companies approved by the Mortgagee and all policies shall be in such form and shall have attached loss payable clauses in favor of the Mortgagee and any other parties as shall be satisfactory to the Mortgagee. All policies and attachments shall be delivered promptly to the Mortgagee unless they are required to be delivered to the holder of a lien of a mortgage or similar instrument to which this Mortgage is expressly subject, in which latter event, certificates, satisfactory to the Mortgagee, shall be delivered promptly to the Mortgagee. The Mortgagor will pay promptly when due, as provided, all premiums on such insurance, and in every case in which payment is not made from the deposits required by this Mortgage, promptly submit to the Mortgagee for examination receipts or other evidence of such payment as shall be satisfactory to the Mortgagee. The Mortgagee may obtain and pay the premium on (but shall be under no obligation to do so) every kind of insurance required if the amount of such premium has not been deposited as required by this Mortgage, in which event the Mortgagor will pay the Mortgagee every premium so paid by the Mortgagee. b) In the event of loss or damage to the mortgage property, the Mortgagor will give to the Mortgagee immediate notice by mail, and the Mortgagee may make and file proof of loss if not made otherwise promptly by or on behalf of the Mortgagor. Each insurance company issuing any such policy is hereby authorized and directed to make payment for such loss to the Mortgagor and the Mortgagee jointly, unless the amount of loss is payable first to the lienholder under a mortgage or similar instrument to which this Mortgage is expressly subject, and the insurance proceeds, or any part, if received by the Mortgagee, may be applied by the Mortgagee, at its option, either in reduction of the indebtedness secured, or to the restoration or repair of the mortgaged property in extinguishment of such indebtedness, all right, title and interest of the Mortgagor in and to every such insurance policy then in enforce, subject to the rights and interest of the holder of any such prior lien, shall pass to the grantee acquiring title to the mortgaged property together with such policy and appropriate assignment of such right, title, and interest which shall be made by the Mortgagor. 7. The Improvements and all plans and specifications shall comply with any and all applicable municipal, county, state and federal ordinances, regulations and rules made or promulgated by lawful authority, and upon their completion, shall comply with the rules of the Board of Fire Underwriters having jurisdiction. 8. Upon any failure by the Mortgagor to comply with or perform any of the terms, covenants or conditions of the Mortgage requiring the payment of any amount of money by the Mortgagor, other than ,the principal amount of the loan evidenced by the Note, interest and other charges, as provided in the Note, the Mortgagee may at its option make such payment. Every payment so made by the Mortgagee (including reasonable attorney's fees incurred), with interest thereon from date of such payment, at the rate of four percent (4 %) per annum, except any payment for which a different rate of interest is specified herein, shall be payable by the Mortgagor to the Mortgagee on demand and shall be secured by this Mortgage. This Mortgage with respect to any such amount and the interest thereon shall constitute a lien on the mortgaged property prior to any other lien attaching or accruing subsequent to the lien of this Mortgage. The Mortgagee, by any of its agents or representatives, shall have the right to inspect the mortgaged property from time to time at any reasonable hour of the day. Should the mortgaged property at any time require inspection, repair, care or attention of any kind or nature not provided by the Mortgagor as determined by the Mortgagee in its sole discretion, the Mortgagee may, after notice to the Mortgagor, enter or cause entry to be made upon the mortgaged property and inspect, repair, protect, care for or maintain such property, as the Mortgagee may in its sole discretion deem necessary, and may pay all amounts of money, as the Mortgagee may in its sole discretion deem necessary. 10. The principal amount owing on the Note together with interest and all other charges, as provided in the Note, and all other amounts of money owing by the Mortgagor to the Mortgagee pursuant to and secured by this Mortgage, shall immediately become due and payable without notice or demand upon the transfer or alienation of the Mortgaged Property to another person other than the Mortgagor, except is such transfer is to the surviving spouse, appointment of a receiver or liquidator, whether voluntary or involuntarily, for the Mortgagor or any of the property of the Mortgagor, or upon the filing of a petition by or against the Mortgagor under the provisions of any State insolvency law, or under the provisions of the Bankruptcy Act of 1898, as amended, or upon the making by the Mortgagor of an assignment for the benefit of the Mortgagor's creditors. The Mortgagee is authorized to declare, at its option, all or any part of such indebtedness immediately due and payable upon the happening of any of the following events, which shall constitute a default on that Note, and any other Note which this mortgage secures: a) Failure to pay the amount of any installment of principal and interest, or other charges payable on the Note which shall have become due; b) Nonperformance by the Mortgagor of any covenant, agreement, term or condition of this Mortgage, or the Note (except as otherwise provided in subdivision (a) or of any other agreement made by the Mortgagor with the Mortgagee in connection with such indebtedness, after the Mortgagor has been given due notice by the Mortgagee of such nonperformance; c) Failure of the Mortgagor to perform any covenant, agreement, term or condition in any instrument creating a lien upon the mortgaged property, or any part, which shall have priority over the lien of this Mortgage; d) The Mortgagee's discovery of the Mortgagor's failure in any application of the Mortgagor to disclose any fact deemed by the Mortgagee to be material, or of the making, or in any of the agreements entered into by the Mortgagor with the Mortgagee (including, but not limited to, the Note and this Mortgage) of any misrepresentation by, on behalf of, or for the benefit of the Mortgagor; e) The sale, lease or other transfer of any kind or nature of the mortgaged property, or any part, without the prior written consent of the Mortgagee, including the subordination of this mortgage or owner /s refinancing of the mortgage property. The Mortgagee's failure to exercise any of its rights shall not constitute a waiver. All the events in this Paragraph enumerated upon the happening of any of which the Note shall become, or may be declared to be, immediately due and payable are in this Mortgage called "events of default ". 11. The Mortgagee may from time to time cure each default under any covenant or agreement in any instrument creating a lien upon the mortgaged property, or any part which shall have priority over the lien of this Mortgage, to such extent as the Mortgagee may exclusively determine, and each amount paid, if any, by the Mortgagee to cure any such default shall be paid by the Mortgagor to the Mortgagee, and the Mortgagee shall also become subrogated to whatever rights the holder of the prior lien might have under such instrument. 12. a) After the happening of any default, the Mortgagor shall, upon demand of the Mortgagee, surrender possession of the mortgaged property to the Mortgagee, and the Mortgagee may enter such property, and let the same and collect all the rents therefrom which are due or to become due, and apply the same, after payment of all charges and expenses, on account of the indebtedness secured, and all such rents and all losses existing at the time of such default are assigned to the Mortgagee as further security for the payment of the indebtedness secured, and the Mortgagee may also dispossess, by the usual summary proceedings, any tenant defaulting in the payment of any rent to the Mortgagee. b) In the event that the Mortgagor occupies the mortgaged property or any part, the Mortgagor agrees to surrender possession after such default, such possession shall be as a tenant of the Mortgagee, and the Mortgagor shall pay in advance, upon demand by the Mortgagee, as a reasonably monthly rental for the premises occupied by the Mortgagor, an amount at least equivalent to one - twelfth the aggregate of the twelve monthly installments payable under the Note in the current calendar year, plus the actual amount of the annual ground rent, if any, taxes, assessments, water rates, other governmental charges, and insurance premiums payable in connection with the mortgaged property during such year, and upon the failure of the Mortgagor to pay such monthly rental, the Mortgagor may also be dispossessed by the usual summary proceedings applicable to tenants. This covenant shall become effective immediately upon the happening of any such default, as determined in the sole discretion of the Mortgagee, who shall give notice of such determination to the Mortgagor, and in the case of foreclosure and the appointment of a receiver of the rents, the covenant shall inure to the benefit of such receiver. 13. The Mortgagee in any action to foreclose this Mortgage shall be entitled to the appointment of a receiver without notice, as a matter of right and without regard to the value of the mortgaged property, or the solvency or insolvency of the Mortgagor or other party liable for the payment of the Note and other indebtedness secured by this Mortgage. 14. The Mortgagor, within ten (10) days upon request in person or within twenty (20) days upon request by mail, will furnish promptly a written statement in form satisfactory to the Mortgagee, signed by the Mortgagor and duly acknowledged, of the amount then owing on the Note and other indebtedness secured by this Mortgage, and whether any offsets or defenses exist against such indebtedness or any part. 15. The Mortgagor shall give immediate notice by registered or certified mail to the Mortgagee of any fire, damage or other casualty affecting the mortgaged property, or of any conveyance, transfer or change in ownership of such property, or any part. 16. Notice and demand or request may be made in writing and may be served in person or by mail. 17. In case of a foreclosure sale of the mortgaged property, it may be sold in one parcel. 18. The Mortgagor will not assign the rents, if any, in whole or in part, from the mortgaged property, or any part, without the prior written consent of the Mortgagee. 19. The Mortgagor is lawfully seized of the mortgaged property and has good right, full power and lawful authority to sell and convey the same in the manner above provided, and will warrant and defend the same to the Mortgagee forever against the lawful claims and demands of all parties whatsoever. 20. The Mortgagor waives the benefit of all homestead exemptions as to the debt secured by this Mortgage and as to any expenditure for insurance, taxes, levies, assessments, dues or charges incurred by the Mortgagee pursuant to any provision of this Mortgage. 21.This Mortgage and all the covenants, agreements, terms and conditions herein contained shall be binding upon and inure to the benefit of the Mortgagor and the heirs, legal representatives and assigns of the Mortgagor, and to the extend permitted by law, every subsequent owner of the mortgaged property, and shall be binding upon and inure to the benefit to the Mortgagee and its assigns. If the Mortgagor consists of two or more parties, this Mortgage shall constitute a grant and mortgage by all of them jointly and severally, and they shall be obligated jointly and severally under all these provisions and under the Note. The word "Mortgagee" shall include any person, corporation or other party who may from time to time be the holder of this Mortgage. Wherever used, the singular number shall include the plural, the plural number shall include the singular, and the use of any gender shall be applicable to all genders wherever the sense requires. IN WITNESS WHEREOF, this Mortgage has been duly signed and sealed by the Mortgagor on or as of the day and year first above written. Signed, sealed and delivered in the presence of: Witness (Print Name) [Name] Owner Witness (Print Name) Owner Address: STATE OF FLORIDA COUNTY OF MIAMI -DADE The foregoing Mortgage was acknowledged before me this day of , 2008, by who is /are personally known to me, or who has produced the following: as identification and who did not take an oath. Typed /Printed Name: Title: Notary Public, State of Florida This instrument prepared by: John C. Dellagloria General Counsel City of South Miami Community Redevelopment Agency 6130 Sunset Drive South Miami, FL 33143 RESIDENTIAL REHABILITATION PROGRAM AGREEMENT NUMBER:CRA BORROWER (S) : PROPERTY ADDRESS: STATE OF FLORIDA COUNTY OF MIAMI -DADE BEFORE ME, the Bonnie Gillis who, deposes and says: Bonnie Gillis 6119 SW 59th St. South Miami, Florida 33143 A F F I D A V I T undersigned Notary Public, personally appeared having been duly sworn according to law, 1. Affiant is the owner of the real property described in Exhibit "A" attached hereto, hereinafter referred to as the "Premises" attached hereto. 2. That the South Miami Community Redevelopment Agency ( "SMCRA ") has approved Affiant's application under the Residential Rehabilitation Program for Single Family Homes and is issuing a grant to Affiant pursuant thereto. 3. Affiant states that there are no actions, proceedings, judgments, bankruptcies, liens or executions recorded among the Public Records of Dade County, Florida, or any other county in Florida or pending against Affiant in the courts of Dade County, or other courts in any other State or Federal Liens that could be recorded in the Public Records. 4. There has been no change in title to the above described Premises from that which was shown in the title evidence previously submitted by me to the SMCRA and there are no matters pending against me that could give rise to a lien that would attach to the Premises. 5. Affiant has not and hereby agrees and represents that Affiant will not execute any instrument, or do any act whatsoever, that in any way would affect the title to the Premises including, but not limited to, the mortgaging or conveying the Premises or any interest in it or causing any liens to be recorded against the Premises or the Affiant. 6. Affiant agrees to indemnify and save the South Miami Community Redevelopment Agency harmless from and against any loss, damage, cost, expense and outlay, including without limitation all attorneys' fees and court costs, which it may at any time sustain, incur or be exposed to by reason or in consequence of the representations made herein by Affiant. STATE OF FLORIDA) SS COUNTY OF MIAMI -DADE) I HEREBY CERTIFY that on this day before me, an officer duly qualified to take acknowledgments, personally appeared to me known to be the persons described in and who executed the foregoing instrument and acknowledged before me that he /she /they executed the same, and who presented as identification the following:, and he /she /they did take an oath. WITNESS my hand and official seal in the County and State last aforesaid this day of , 2008. Notary Public Printed: CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY RESIDENTIAL REHABILITATION PROGRAM PROMISSORY NOTE Schedule A AgreementNo:CRA Amount', $2,435 Date: November 11,2008 FOR VALUE RECEIVED, promise (s) to pay to Redevelopment Agency (her the_ manner hereinafter $2,435 herein below or otherwise the undersigned jointly and severally the City of South Miami Community einafter referred to as the "Agency "), in specified, the principal sum of payable without interest except as provided. This Promissory Note is made to evidence the loan made to the undersigned by the Agency pursuant to the City of South Miami Community Redevelopment Agency Residential Rehabilitation Program. So long as the undersigned has not provided false information in support of the application for the loan, or has not otherwise violated the City of South Miami Community Redevelopment Agency Residential Rehabilitation Program, the aforementioned principal sum shall be partially forgiven in the amount of $ 833.33 each year over a 3 year period, until fully forgiven at the conclusion of 3 years. This Note is secured by a mortgage, of even date herewith, on the real property owned and occupied by the undersigned located at 6119 SW 69th. Street South Miami, Florida 33143 (the "Property ") . If the undersigned fails to occupy the Property as a single family dwelling, has provided false information in support of the application for loan or has otherwise violated the City of South Miami Community Redevelopment Agency Residential Rehabilitation Program, or if the Property securing this Note is sold or in any way alienated or transferred, except if such .transfer is to a surviving spouse, such an event shall constitute a default, and the aforementioned principal sum shall, at the option of the holder hereof, become at once due and collectable without notice, time being of the essence, and shall bear interest from such time until paid at the rate of four percent (40) simple interest per year on the unpaid principal amount then owing. Determination that the Property is occupied by the undersigned as a single family dwelling, the alienation, transfer or sale of the Property, or the undersigned's violation of the City of South Miami Community Redevelopment Agency Residential Rehabilitation Program sufficient to call for payment of this Note shall rest with the Agency and /or its designated agents and the maker shall be notified of the time and place of payment. Subordination of this Note or the Owner's refinancing of the subject Property shall also constitute default. The undersigned reserve(s) the right to repay at any time all or any part of the principal amount of this Note without the payment of penalties or premiums. If the principal amount of this Note is not paid when due, the undersigned's action shall constitute a default and the undersigned shall, at the option of the Agency, pay to the Agency the late charge of one percent per calendar month, or fraction thereof, on the amount past due and remaining unpaid. Failure of the Agency to exercise such option shall not constitute a waiver of such default. If the undersigned shall default on payment under this Note, or provide false information in support of the application for loan, or otherwise violate the City of South Miami Community Redevelopment Agency Residential Rehabilitation Program, the undersigned may be subject to penalties authorized by state and local laws, codes, rules and regulations. If this Note be reduced to judgment, such judgment shall bear the statutory interest rate on judgments. If suit is instituted by the Agency to recover on this Note, the undersigned agree(s) to pay all costs of such collection including reasonable attorney's fees, at trial and appellate levels, and court costs. DEMAND, protest and notice of demand and protect are hereby waived, and the undersigned hereby waives, to the extent authorized by law, all Homestead and exemption rights which otherwise would apply to the debt evidenced by this Note. Whenever used herein the terms "holder ", "maker" and "payee" shall be construed in the singular or plural as the context may require or.admit. IN WITNESS WHEREOF, this Note has been duly executed by the undersigned as of its date.