HomeMy WebLinkAboutCorrective City Deed 2This Instrument Prepared By
and Return To:
Ilene Temchin. Esq.
City of Miami
Office of the City Attorney
444 S.W. 2N'1 Avenue
Miami. Florida 33130-1910
CORRECTIVE CITY DEED
THIS CORRECTIVE CITY DEED is made as of the 27`h day of April, 2004, by the City
of Miami, a municipal corporation of the State of Florida, with an address at 444 S.W. 2"d
Avenue, Miami, Florida 33130 (hereinafter referred to as the ".City") to Allapattah Business
Development Authority, Inc., a not for profit corporation with offices at 2634 NW 21St Avenue,
Miami, Florida 33142 (hereinafter referred to as the "Grantee").
WITNESS: That the City, for and in consideration of the sum of Ten Dollars ($10.00) to
it in hand paid by the Grantee, receipt of which is hereby acknowledged, does hereby remise,
release, convey and quit -claim unto the Grantee, its heirs and its assigns, subject to the right of
reverter set below, all of the Grantor's right, title and interest in that certain land situate in
Miami -Dade County, Florida, hereinafter referred to as the "Property", to wit:
Lot 1, Block 2, BOULEVARD PARK, according to the Plat thereof, as
recorded in Plat Book 7, Book 55, of the Public Records of Miami -Dade
County, Florida.
Street address: 790 NW 29th Terrace, Miami, FL
hereinafter referred as the "Property".
This Corrective City Deed conveys only the interests of the City in the Property described
herein, and shall not warrant title thereto.
This Corrective City Deed is made and executed upon, and is subject to, the following
conditions, restrictions and covenants, which are part of the consideration for the Property
conveyed and are taken and construed as running with the land:
I. The Grantee agrees for itself and its successors and assigns that for a period of
twenty (20) years from the completion of construction, as evidenced by the receipt of all required
certificates of occupancy for both homes hereinafter described, the Property shall only be used to
provide two (2) owner occupied single family homes for individuals and/or families within the
economic affordability range of low income families and/or individuals, based on criteria
established by federal and/or state law or by the City Commission of the City of Miami, and shall
be subject to the covenants set forth hereunder.
ONLY WITH REGARD TO THE PROPERTY LEGALLY DESCRIBED ABOVE, THIS DEED
CORRECTS CONDITIONS/RESTRICTIONS STATED IN THAT CERTAIN CITY DEED
DATED APRIL 27, 2004, RECORDED APRIL 30, 2004, IN OFFICIAL RECORDS BOOK 22256,
AT PAGE 0033, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY. FLORIDA.
2. Grantee shall commence the construction of two (2) single family homes (the
"Improvements") on the Property on or before October 31, 2008, or such later date as may be
approved by the City Commission of the City of Miami, and shall continue diligently with the
construction of the Improvements to completion. Construction shall be completed, as evidenced
by the receipt of all required certificates of occupancy for both such homes and both such homes
shall be sold to Low Income homebuyers approved by the City, on or before December 31, 2009,
or such later date as may be approved by the City Commission of the City of Miami.
3. The Grantee agrees for itself and its successors and assigns, not to discriminate
upon the basis of race, color, religion, marital status, sex or national origin in the sale of the
Property, or any Improvements erected or to be erected thereon or on any part thereof.
4. The Grantee agrees for itself and its successors and assigns, to pay the real estate
taxes and assessments on the Property or any part thereof when due. In the event that the
Property is declared to be "immune" or "exempt" from the payment of ad valorem taxes, the
Grantee agrees for itself and its successors and assigns, to pay to the City an annual payment
which shall be in an amount equal to the amount the City would have received as ad valorem
taxes based on the valuation method employed by the county property appraiser pursuant to
Chapter 193 Florida Statutes, (1997), as amended from time to time.
5. Grantee agrees for itself and its successors and assigns not to suffer any levy or
attachment to be made, or any materialman's or mechanic's lien, or any encumbrance or lien to
attach to the Property, except:
a) Any mortgage(s) in favor of an 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
acceptable to the City;
b) Any mortgage(s) in favor of any 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 acceptable to the City.
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 fund, the Federal National Mortgage Association, agency of
the United States Government or other governmental agency, Miami -Dade County, the City and
their respective successors and assigns.
6. Grantee shall not transfer the Property or any part thereof; or change the
ownership or control of the Grantee, without the prior ATitten consent of the City.
The restrictions, conditions and covenants set forth in Sections 1 through 6 of this
Corrective City Deed shall be deemed covenants running with the land and shall be binding to
the fullest extent permitted by law and equity, and enforceable by, for the benefit and in favor of,
the City. The City shall have the right to exercise all the rights and remedies and to maintain any
and all actions or suits at law or in equity, as it deems appropriate to enforce the foregoing
restrictions, conditions and covenants. The restrictions, conditions and covenants set forth in
Sections 1 through 6 of this Corrective City Deed shall be binding for a period of twenty (20)
years from the completion of construction as provided above, at which time, the Property shall no
longer be subject to the restrictions, conditions and covenants contained in this Corrective City
Deed.
In the event the Grantee or its successors or assigns shall violate or otherwise fail to
comply with any of the restrictions, conditions and covenants set forth in this Corrective City
Deed, the Grantee or its successors or assigns shall correct or cure the default/violation within
thirty (30) days of notification of the default by the City (the "Cure Period"). If Grantee or its
successors or assigns fails to remedy the default within the Cure Period. the City shall have the
right to reenter and take possession of the Property or any portion of the Property. It is the intent
of this conveyance that it is made upon the condition that, in the event of any default, failure or
violation of any such condition which. is not cured within the Cure Period, title to the Property
shall immediately and automatically revert to the City.
IN WITNESS WHEREOF, the City has caused this Corrective City Deed to be executed
the day and year first above written.
Signed, sealed and delivered
in our presence:
Print Name:
Print Name:
City of Miami, a municipal corporation
of the State of Florida
Pedro G. Hernandez
City Manager
Approved as To Form And Attest:
Correctness:
Julie O. Bru Priscilla A. Thompson
City Attorney City Clerk
STATE OF FLORIDA )
) SS
COUNTY OF DADE )
The foregoing instrument was acknowledged before me this I day of
, 2008 by as City Manager of the City of
Miami, a municipal corporation of the State of Florida, who is personally known to me or who
has produced as identification and who did/did not take an oath.
Printed Name:
Notary Public
My Commission Expires:
The foregoing conveyance was approved pursuant to Resolution No. of the City
Commission of the City of Miami, a municipal corporation of the State of Florida, passed and
adopted on A copy of Resolution No. is attached hereto as Exhibit
„A"
4
Exhibit A
Resolution No. of the City Commission of the City of Miami. passed and adopted
on