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HomeMy WebLinkAboutBackupCITY OF MIAMI OFFICE OF THE CITY ATTORNEY MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Victoria Mendez, City Attorney DATE: April 25, 2022 RE: HUD Document related to Workforce Housing Covenant 70 Northeast 171h Street Matter ID No.: 22-825 The owner of the property located at 70 Northeast 17th Street, Miami, Florida ("Property") proffered a Declaration of Restrictive Covenants ("Covenant") dated March 29, 2018 to the City of Miami's ("City") Planning Department pursuant to the public benefits program under the then Section 3.14.4(a)(1) of Ordinance No. 13114, the Zoning Ordinance of the City of Miami, Florida as amended ("Miami 21"). The Covenant was recorded on August 1, 2018 in Official Records Book 31084, Page 1411-1420, in public records of Miami -Dade County. The Covenant restricted the development of the Property to provide a percentage of Workforce Housing serving residents at or below one -hundred forty percent (140%) Area Median Income ("AMP'), specifically ten percent (10%) of the units as Workforce Housing if the units are sold as condominium units or fourteen percent (14%) of the units as Workforce Housing if leased to tenants. In exchange, for each square foot of Workforce Housing provided on site, the development shall be allowed two (2) square feet of additional area up to the bonus height and Floor Lot Ratio (" FLR" ), as described in the then Section 3.14.1 of Miami 21. Paragraph 8 of the Covenant, titled "Modification, Amendment, and Release", provides that the Covenant may be modified, amended, or released only after either (1) satisfaction of the public benefits by other means including payment into the City's Affordable Housing Trust Fund or (2) a public hearing before the Planning, Zoning and Appeals Board ("PZAB") and the City Commission. It further states that any modification, amendment, or release approved by the City Commission shall be executed by the City Manager, or his authorized designee, and be in a form acceptable to the City Attorney. The Covenant is attached. The City was informed that the property owner is obtaining a mortgage that will be insured by the United States Department of Housing and Urban Development ("HUD") and that HUD requires the City to execute a document which states that the City, in enforcing the Covenant, will not file any claim against the development project, the mortgage loan proceeds, any reserve or deposit required by HUD in connection with the security instrument or HUD Regulatory Agreement, or the rents or other income from the property other than a claim for (i) available surplus cash, if the property owner is a for -profit entity; (ii) available distributions of surplus cash and residual receipts authorized for release by HUD, if the Borrower is a limited distribution entity; (iii) Available residual receipts authorized for release by HUD, if the Borrower is a non-profit entity; and (iv) Specific performance of the non -monetary obligations of the Restrictive Covenants. The document also provides that amending the Covenant would require HUD's prior written consent, except for clerical errors or administrative correction of non -substantive matters. In other words, the document required by HUD would not affect the 1 City's ability to enforce the Covenant by specific performance, i.e., requiring the Workforce Housing, but may affect the City's ability to collect monetary penalties for noncompliance with the Covenant. The City was further informed that the closing for this financing is fast approaching and the document required by HUD is necessary to allow the financing to move forward. Our office has reviewed the document and provided comments. The HUD document is attached hereto. Due to the nature of this request, our office wants to ensure that the City Commission is aware and has no objections to the document required by HUD as described herein. It is the intention for the City Manager to execute the document provided that you express no objection by Thursday, April 28, 2022. NOTICE OF OBJECTION TO EXECUTE HUD DOCUMENT I, Commissioner , hereby object to the City executing the HUD document as described herein. [Please email to aketterer(2miamigov.com]. Signature Enclosure(s) ALK Date This instrument prepared by, and after recording return to: Name: Iris V. Escarra, Esq. Address: Greenberg Traurig, P.A. 333 SE 2"" Avenue Miami, Florida 33131 CFN 201BRO465849 OR BK 31084 P9s 1411-1420 Q0P9s) RECORDED 08/01/2018 15:06:31 (Space reserved for ,VQ,,,RUVIN► CLERK OF COURT Ififli—UHUt COUNTY► FLORIDA DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION OF RESTRICTIVE COVENANTS (the "Declaration"), made this day of 2018, by NR Investments 11, LLC, a Florida limited liability company, and La Nonna Management, LLC, a Florida limited liability company, (collectively, the "Owner"), in favor of the City of Miami, Florida, a municipality of the State of Florida (the "City"). WITNESSETH: WHEREAS, Owner holds fee -simple title to certain property in the City of Miami, Florida, 70 NE 17 Street, Miami, Florida 33132, legally described in Exhibit "A" attached hereto and made a part hereof (the "Property"); and WHEREAS, Owner intends to develop the Property as a mixed -use residential building with residential units and a commercial area on the ground floor pursuant to Zoning Ordinance 13114, as amended, of the City of Miami ("Miami 21 ") Section 3.14 Public Benefits Program; and WHEREAS, Owner has agreed to satisfy the Public Benefits Bonus in accordance with Miami 21 Section 3.14.4 (a)(1)1 with the reservation of at least (a) ten percent (10%) of the total number of residential units on the Property as workforce housing units, if the residential units are ' Affordable/workforce housing on site of the development. For each square foot of affordable/workforce housing (including pertaining shared space such as parking and circulation) provided on site, the development shall be allowed two square feet of additional area up to the bonus Height and FLR as described in Section 3.14.1. Book31084/Page1411 CFN#20180465849 Page 1 of 10 - NR Investments 11, LLC Public Benefits Covenant - sold as condominium units, or (b) fourteen percent (14%) of the total number of residential units on the Property as workforce housing units if the residential units are leased to tenants as an apartment building; and WHEREAS, workforce housing units shall be as defined in City Code Section 13-52 (the "Units for Workforce Housing"); and WHEREAS, Owner shall designate the specific Units for Workforce Housing and identify the maximum purchase price(s) and/or maximum rental amounts through a workforce housing covenant (the "Workforce Housing Covenant") to be recorded at such time as the Units for Workforce Housing are identified, which must be no later than the completion of the design of the building; and WHEREAS, upon recordation of the Workforce Housing Covenant identifying the specific Units for Workforce Housing, all other Property shall be released from this Declaration. NOW, THEREFORE, Owner voluntarily covenants and agrees that the Property shall be subject the following covenants that are intended and shall be deemed to be covenants running with the land and binding upon the Owner of the Property, its successors in interest, heirs, and assigns, as follows: 1. Recitals. The recitals and findings set forth in the preamble of this Declaration are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. z Workforce housing shall mean, solely for purposes of this article, owner -occupied and/or rental housing with a purchase cost, value, or monthly rental, as applicable, equal to or less than the amounts established by the applicable standards for those individuals whose income is between 80 percent to 140 percent of area median income as determined by the City's Department of Community and Economic Development in relation to the affordable housing and workforce housing impact fee deferral program provided for in this article. 2 Book31084/Page1412 CFN#20180465849 Page 2 of 10 NR Investments 11, LLC Public Benefits Covenant 2. Public Benefit Program: Workforce Housing Restriction. Owner has agreed to satisfy the Public Benefits Bonus in accordance with Miami 21 Section 3.14.4 (a)(1) with the reservation of the Units for Workforce Housing. The Units for Workforce Housing shall contain design finishes consistent with the standard market rate units. Furthermore, Owner shall not sell, lease, or otherwise convey any interest in the Units for Workforce Housing for any consideration to a household with an income in excess of 140% of the area median income of Miami -Dade County as determined by the Department of Community and Economic Development. Upon recordation of the Workforce Housing Covenant identifying the specific Units for Workforce Housing, all other Property shall be released from this Declaration. 3. Effective Date. This instrument shall constitute a covenant running with the title to the Property and be binding upon Owner, its successors, heirs, and assigns upon recordation by the Owner in the Public Records of Miami -Dade County, Florida. These restrictions shall be for the benefit of, and a limitation upon, all present and future owners of the Property and for the public welfare. 4. Term of Covenant. This voluntary covenant on the part of the Owner shall remain in full force and effect and shall be binding upon the Owner, its successors in interest, heirs and assigns for an initial period of thirty (30) years from the date this instrument is recorded in the public records, and shall be automatically extended for periods of ten (10) years, unless modified, amended or released pursuant to this Declaration prior to the expiration thereof. However, use restrictions regarding Units for Workforce Housing shall not exceed thirty (30) years, commencing from the date of the Close -Out of the Project, which is in 3 Book31084/Page1413 CFN#20180465849 Page 3 of 10 NR Investments 11, LLC Public Benefits Covenant - accordance with Florida Statute 420. Close -Out of the Project is defined as the date on which the Project has obtained all of the required Certificate(s) of Occupancy and all Public Benefits Bonus assisted Units have been leased to eligible tenants. 5. Applicable Law. The restrictions within this Declaration on the part of the Owner are being made under the applicable laws of the City and of the State of Florida at the time of the Effective Date. 6. Governing Law. The Agreement shall be construed in accordance with the laws of the State of Florida and any proceedings arising between the parties in any manner pertaining or relating to this Agreement shall, to the extent permitted by law, be held in Miami -Dade County, Florida. 7. Inspection and Enforcement. It is understood and agreed that any official inspector of the City of Miami may have the right at any time during normal working hours of the City of Miami's inspector to enter upon the Property for the purpose of investigating the use of the Property, and for determining whether the conditions of this Declaration and the requirements of the City's building and zoning regulations are being complied with. An action to enforce the terms and conditions of this Declaration may be brought by the City and may be by action at law or in equity against any party or person violating or attempting to violate any covenants of this Declaration or provisions of the building and zoning regulations, either to restrain violations or to recover damages. This enforcement provision shall be in addition to any other remedies available under the law. Each party shall bear their own attorney's fees. 4 Book31084/Page1414 CFN#20180465849 Page 4 of 10 NR Investments 11, LLC Public Benefits Covenant 8. Modification, Amendment, and Release. This instrument may be modified, amended, or released as to any portion or all of the Property only after occurrence of either (1) satisfaction by other means permitted by Section 3.14 of Miami 21, including but not limited to payment into the City of Miami Affordable/Workforce Housing Trust Fund as satisfaction of the Public Benefit Program; or (2) a public hearing before the Planning Zoning and Appeals Board and the City Commission. All costs associated with all public hearings shall be paid by the Owner. Any modification, amendment, or release approved by the City Commission shall be executed by the City Manager, or his authorized designee, and be in a form acceptable to the City Attorney. 9. Severability. Invalidation of any one of these covenants by judgment of Court shall not affect any of the other provisions of this Declaration, which shall remain in full force and effect. 10. Recordinya. This Declaration shall be filed of record among the Public Records of Miami -Dade County, Florida, by Owner and at the cost of Owner. Owner shall furnish a certified copy of the recorded Declaration to the City Department of Hearing Boards and the Planning Department within thirty (30) days of recordation. 11. No Vested Rights. Nothing in this covenant shall be construed to create any vested rights whatsoever for the Owner, its successors, heirs, and assigns. 5 Book31084/Page1415 CFN#20180465849 Page 5 of 10 - NR Investments 11, LLC Public Benefits Covenant SIGNATURE PAGES TO FOLLOW Book31084/Page1416 CFN#20180465849 Page 6 of 10 NR Investments 11, LLC Public Benefits Covenant IN WITNESS WHEREOF, the undersigned has set his hand and seal this � day of M6rC,� ,2018. Witnessed by: Name: Gj1 /Va��- Name: % Hari a I� STATE OF FLORIDA ) ) ss: COUNTY OF MIAMI-DADE ) NR Investme , LLC, A Florid imited 14ability,,e By:ell v Terry WejKns, Authorized Manager The foregoing instrument was acknowledged before me this 0dafkqcei., 2018 by Terry Wellons, of NR Investments 11, LLC. He personally appeared before me, is personally known to n>e-or produced as identification. Name: �IW Notary Public, State ofFlopda Commission No. 13616 PO��, My commission expires: 11111 , MARIA 0. COWARD • ' ` � Notary Public -State of Florida My Comm. Expires Aug 10, 2018 �� EorF�o Commission # FF 132602 7 Book31084/Page1417 CFN#20180465849 Page 7 of 10 - NR Investments 11, LLC Public Benefits Covenant IN WITNESS WHEREOF, the undersigned has set his hand and seal this q day of At P,4,I , 2018. Witnessed by: NamelliZ1.iYJ& &mca STATE OF FLORIDA ) ) ss: COUNTY OF MIAMI-DADE ) La Nonna Management, LLC, A Florida limited liability company By: Ricardo Immediato-Scuotto, Authorized Member The foregoing instrument was acknowledged before me this � day of , 2018 by Ricardo Immediato-Scoutto, of La Nonna Management, LLC. He personal y appeared before me is personally knowno me or produced as identification. Name:_Aa,n a It, Notary Public, State of Florida Commission No. / 3 oZ �p 0 A My commission expires: ¢gd 0--l8 otiP Y P(, MARIA D. COWARD Notary Public - State of Florida My Comm. Expires Aug 10, 2018 i q• '•,;o���Q.•� pJ� Commission # FF 132602 Book31084/Page1418 CFN#20180465849 Page 8 of 10 - NR Investments 11, LLC Public Benefits Covenant AS TO LEGAL SS: Vic o a Mended, Q City' -Attorney I APP VED AS TO CONTENTS: r r cisco Garcia, Director Planning and Zoning Department Book31084/Page1419 CFN#20180465849 Page 9 of 10 OR BK 31084 PG 14.20 LAST PAGE - NR Investments 11, LLC Public Benefits Covenant Exhibit "A" Lots 3 and 4, LESS the East ten feet of Lot 4, Block 8, of NORTH MIAMI ROBBINS, GRAHAM & CHILLNGWORTH ADDITION, according to the Plat thereof recorded in Plat Book "A", at Page 49 1/2, of the Public Records of Miami —Dade County, Florida. TOGETHER WITH: Lot 1. LESS the North five feet and the East ten feet. Black 8, of NORTH MIAMI ROBBINS. GRAHAM do CHILLNGWORTH ADDITION, according to the Plat thereof recorded in Plat Book "A", at Page 49 1/2. of the Public Records of Miarn—[lade County, FlaHda. TOGETHER WITH: Lot 2. LESS the North ten feet., Block B, of NORTH MIAMI ROBBINS. GRAHAM & CHILLNGWORT11 ADDITION. according to the Plat thereof recorded in Plat Book "A", at Page 49 1/2, of the Public Records of Miami —Dade County, Florida. TOGETHER WITH -- THAT PORTION OF THE 10' ALLEY THAT WAS VACATED AND RESERVED AS A UTILITY EASEMENT BY THE CITY OF MIAMI ORDINANCE NO. 13492 REFERENCE NAS INDEX" 231-114 AS RECORDED IN OFFICIAL RECORDS BOOK 29877. PAGE 4214. A portion of the ten (10) foot Wide alley lying adjacent to Lots 1, 2, 3 and 4, Black 8, of NORTH MIAMI (ALSO KNOWN AS ROBBINS, GRAHAM AND CHILLINGWORTH SUBDIVISION), according to the Plat thereof as recorded in Plat Book A, Page 49 %. of the Public Records of Mlamr—Dade County, Florida, oil being more particularly descrlbed as follo*s. Begin at the Southwest corner of said Lot 4. Block S; thence North 00'39'54" East along the West line of said Lots 4 and 1, Block 8. for 114.92 feet. thence South 90'00'00" West along a line 30.00 feet South of and parallel with the center line of N.E. 17th Street as shown on said Plat Book "A" at Pages 49 % and Plat Book 4 at Page 60, for 5.00 feet to a point on the centerline of said ten (10) foot wide alley; thence South 00'39'54" West, along said centerline of the alley, for 5.00 feet; thence South 98'OO'00" West for 5,00 Feet to a point on the East line of said Lot 2, Block B thence South W39'54" West along the East line of said Lots 2 and 3, Block 19, for 109.92 feet to the Southeast corner of said Lot 3, Block 8; thence along the Easterly extension of the South line of said Lot 3. Block S, for 10,00 feet to the Point or Beginning. 10 Book31084/Page1420 CFN#20180465849 Page 10 of 10 Prepared by, and after recording return to: Kristofor W. Nelson, Esq. N. R. Group Management, Inc. 1600 Northeast 1st Avenue, Suite 3800 Miami, Fl, 33132 Tel: (305) 625-0949 Property Addresses: 90 NE 17th Street, 70 NE 17th Street, 1642 NE 1st Avenue Folios: 01-3136-005-0310, 01-3136-0005-0320, 01-3136-005-0330 HUD Rider To Declaration of Restrictive Covenants with the City of Miami This RIDER TO DECLARATION OF RESTRICTIVE COVENANTS (this "Rider") is made as of April , 2022, by UNI 17' Street, LLC, a Florida limited liability company ("Borrower"), as successor -in -interest to both NR Investments 11, LLC and La Norma Management, LLC, and the City of Miami, Florida, a municipality of the State of Florida ("Agency"). WHEREAS, Borrower has obtained financing from Walker & Dunlop, LLC, a Delaware limited liability company ("Lender") for the benefit of the project known as UNI Tower ("Project"), which loan is secured by a Multifamily Mortgage, Assignment of Leases and Rents, and Security Agreement ("Security Instrument") dated as of April , 2022, and recorded in the Clerk of court's Office of Miami -Dade County, Florida ("Records"), and is insured by the United States Department of Housing and Urban Development ("HUD"); WHEREAS, Borrower has received zoning benefits which required certain restrictions be recorded against the Project; and WHEREAS, the NR Investments 11, LLC and La Nonna Management, LLC entered into that certain Declaration of Restrictive Covenants ("Restrictive Covenants"), which encumbers the Project that is now owned by the Borrower, which Project is more particularly described in Exhibit A attached hereto, dated as of March 29, 2018 and recorded in the Records in Book 31084, Pages 1411-1420; and NOW, THEREFORE, in consideration of the foregoing and for other consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: (a) In the event of any conflict between any provision contained elsewhere in the Restrictive Covenants and any provision contained in this Rider, the provision contained in this Rider shall govern and be controlling in all respects as set forth more fully herein. (b) The following terms shall have the following definitions: "Code" means the Internal Revenue Code of 1986, as amended. "HUD" means the United States Department of Housing and Urban Development. "HUD Regulatory Agreement" means the Regulatory Agreement between Borrower and HUD with respect to the Project, as the same may be supplemented, amended or modified from time to time. "HUD Requirements" means the obligations set forth in the Mortgage Loan Documents and the Program obligations. "Lender" means Walker & Dunlop, LLC, its successors and assigns. "Mortgage Loan" means the mortgage loan made by Lender to the Borrower pursuant to the Mortgage Loan Documents with respect to the Project. "Mortgage Loan Documents" means the Security Instrument, the HUD Regulatory Agreement and all other documents required by HUD or Lender in connection with the Mortgage Loan. "National Housing Act" means the National Housing Act, 12 USC § 1701 et seq., as amended. "Program Obligations" has the meaning set forth in the Security Instrument. "Residual Receipts" has the meaning specified in the HUD Regulatory Agreement. "Security Instrument" means the mortgage or deed of trust from Borrower in favor of Lender, as the same may be supplemented, amended or modified. "Surplus Cash" has the meaning specified in the HUD Regulatory Agreement. (c) Borrower covenants that it will not take or permit any action that would result in a violation of the Code, HUD Requirements or Restrictive Covenants. In the event of any conflict between the provisions of the Restrictive Covenants and the provisions of the HUD Requirements, HUD shall be and remains entitled to enforce the HUD Requirements. Notwithstanding the foregoing, nothing herein limits the Agency's ability to enforce the terms of the Restrictive Covenants, provided such terms do not conflict with statutory provisions of the National Housing Act or the regulations related thereto. The Borrower represents and warrants that to the best of Borrower's knowledge the Restrictive Covenants impose no terms or requirements that conflict with the National Housing Act and related regulations. (d) Intentionally Omitted; (e) Borrower and the Agency acknowledge that Borrower's failure to comply with the covenants provided in the Restrictive Covenants does not and will not serve as a basis for default under the HUD Requirements, unless a separate default also arises under the HUD Requirements. (f) In enforcing the Restrictive Covenants, the Agency will not file any claim against the Project, the Mortgage Loan proceeds, any reserve or deposit required by HUD in connection with the Security Instrument or HUD Regulatory Agreement, or the rents or other income from the property, other than a claim for: i. Available surplus cash, if the Borrower is a for -profit entity; ii. Available distributions of surplus cash and residual receipts authorized for release by HUD, if the Borrower is a limited distribution entity; or iii. Available residual receipts authorized for release by HUD, if the Borrower is a non-profit entity. iv. Specific performance of the non -monetary obligations of the Restrictive Covenants. (g) For so long as the Mortgage Loan is outstanding, Borrower and Agency shall not amend the Restrictive Covenants, with the exception of clerical errors or administrative correction of non -substantive matters, without HUD's prior written consent. (h) Subject to the HUD Regulatory Agreement, the Agency may require the Borrower to indemnify and hold the Agency harmless from all loss, cost, damage and expense arising from any claim or proceeding instituted against Agency relating to the subordination and covenants set forth in the Restrictive Covenants, provided, however, that Borrower's obligation to indemnify and hold the Agency harmless shall be limited to available surplus cash and/or residual receipts of the Borrower. (1) Intentionally Omitted. The statements and representations contained in this rider and all supporting documentation thereto are true, accurate, and complete. This certification has been made, presented, and delivered for the purpose of influencing an official action of HUD in insuring a multifamily loan, and may be relied upon by HUD as a true statement of the facts contained therein. Warning: Federal law provides that anyone who knowingly or willfully submits (or causes to submit) a document containing any false, fictitious, misleading, or fraudulent statement/certification or entry may be criminally prosecuted and may incur civil administrative liability. Penalties upon conviction can include a fine and imprisonment, as provided pursuant to applicable law, which includes, but is not limited to, 18 U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729, 3802, 24 C.F.R. Parts 25,28 and 30, and 2 C.F.R. Parts 180 and 242 UNI 17' Street, LLC, a Florida limited liability company Ron Gottesman, Manager Witness 91 Signature Printed Name STATE OF COUNTY OF Witness 92 Signature Printed Name The foregoing instrument was sworn to (or affirmed) and subscribed before me, by means of ❑ physical presence, or, ❑ online notarization, on this day of , 2022, by the duly appointed Manager of UNI 17th Street, LLC, a Florida limited liability company, who acknowledged that he executed the foregoing instrument for and on behalf of the limited liability company by authority duly vested in him to do so. Notary Public Signature AGENCY: City of Miami, Florida, a municipality of the state of Florida in Name: Title: Witness 91 Signature Printed Name Witness 92 Signature Printed Name Exhibit A — Legal Description Parcel 1: Lot 1, LESS the North 10 feet and the East 10 feet, Block 8, ROBBINS, GRAHAM AND CHILLINGSWORTH ADDITION NORTH MIAMI, according to the Plat thereof, as recorded in Plat Book "A", Page 49 1/2, of the Public Records of Miami - Dade County, Florida, TOGETHER with the East 1/2 of the 10 foot vacated alley right of way adjacent to and abutting the West line of said Lot 1, less the North 10 feet. Parcel 2: Lots 3 & 4, LESS the East 10 feet of Lot 4, Block 8, ROBBINS, GRAHAM AND CHILLINGSWORTH ADDITION NORTH MIAMI, according to the Plat thereof, recorded in Plat Book "A", Page 49 1/2 of the Public Records of Miami -Dade County, Florida, together with that portion of the 10 foot vacated alley right of way situated between said Lots 3 and 4. Parcel 3: Lot 2, LESS the North 10 feet, Block 8, ROBBINS, GRAHAM AND CHILLINGSWORTH ADDITION NORTH MIAMI, according to the Plat thereof, as recorded in Plat Book "A", Page 49 1/2 of the Public Records of Miami -Dade County, Florida and the Westerly 5 feet of a 10 foot alley vacated by City of Miami Ordinance No. 13492 Reference "MAS INDEX" 23H10 Ordinance and Vacation recorded in Official Records Book 29757, Page 1686, Official Records Book 29778, Page 3598, Official Records Book 29877, Page 4214 and in Official Records Book 30125, Page 2511, all of the Public Records of Miami -Dade County, Florida, lying adjacent to Lot 2, Block 8, of ROBBINS, GRAHAM AND CHILLINGSWORTH ADDITION NORTH MIAMI, according to the Plat thereof, as recorded in Plat Book "A", Page 49 1/2 of the Public Records of Miami -Dade County, Florida, and being bound of the North by an extension of a line 10 feet Southerly of the North boundary line of Lot 2, Block 8, extending Easterly for 5 feet on the South by an extension of the Southerly boundary line of Lot 2, Block 8, Easterly for 5 feet. LESS from Parcels 1 and 3 those portions of land conveyed as Right-of-way, recorded in Official Records Book 32192, Page 4087, of the Public Records of Miami -Dade County, Florida, being more particularly described as follows: That portion of Lots 1 and 2, Block 8, NORTH MIAMI, according to the plat thereof, as recorded in Plat Book A at Page 49 1/2, of the Public Records of Miami -Dade County, Florida, being more particularly described as follows: The external arc of a circular curve having a radius of 25 feet and tangents which are 35 feet South of and parallel with the centerline of N.E. 17th Street and 25 feet East of and parallel with the centerline of N.E. Miami Place. AND The external arc of a circular curve having a radius of 25 feet and tangents which are 35 feet South of and parallel with the centerline of N.E. 17th Street and 35 feet West of and parallel with the centerline of N.E. 1st Avenue.