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HomeMy WebLinkAboutLegislation Exhibit 2 SUBThis Instrument Prepared By and Return To: Denise Wallace, Esq, City of Miami Office of the City Attorney 444 S,W. 2ND Avenue Miami, Florida 33130-1910 SECOND CORRECTIVE CITY DEED be THIS SECOND CORRECTIVE CITY DEED is made as of the day of , 2009, by the City of Miami, a municipal corporation of the State of Florida, with an address at 444 S.W. 2nd 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 City's rights, title and interest in that certain land situate in Miami -Dade County, Florida, hereinafter referred to as the "Property", to wit: As described in Exhibit "A" attached hereto and made a part hereof, and hereinafter referred as the "Property". This Second Corrective City Deed conveys only the interests of the City in the Property described herein, and shall not warrant title thereto. This Second 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: 1. 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 one (1) owner occupied twin home (single-family home) 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. THIS DEED CORRECTS CONDITIONS/RESTRICTIONS STATED IN PARGRAPH NUMBERS 1 AND 2 IN THAT CERTAIN CITY DEED DATED DECEMBER 10, 2004, RECORDED MARCH 21, 2005, IN OFFICIAL RECORDS BOOK 23186, AT PAGE 3483, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. 1 Dw: Second Corrective City Deed: 153098 2. Grantee shall commence the construction of one (1) owner occupied twin home (the "Improvements") on the Property on or before December 31, 2009, 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 on or before December 31, 2010, 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 written consent of the City. The restrictions, conditions and covenants set forth in Sections 1 through 6 of this Second Corrective City Deed shall be deemed covenants running with the land and shall 2 Dw: Second Corrective City Deed:153098 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 Second 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 Second 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 Second Corrective City Deed to be executed the day and year first above written. Signed, sealed and delivered in our presence: Print Name: Print Name: Approved as To Form And Correctness: Julie O. Brit City Attorney LeeAnn Brehm Risk Management 3 Dw: Second Corrective City Deed: 153098 City of Miami, a municipal corporation of the State of Florida Pedro G. Hernandez City Manager Attest: Priscilla A. Thompson City Cleric STATE OF FLORIDA ) ) SS COUNTY OF DADE ) The foregoing instrument was acknowledged before me this day of , 2009 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 "B". 4 Dw: Second Corrective City Deed: 153098 Exhibit A Leal Description 1264 NW 31 st Street, Miami, Fla. Lot 20, Block 6, WESTEND PARK AMENDED, according to the Plat thereof, as recorded in Plat Book 6, Book 142, of the Public Records of Miami -Dade County, Florida. Dw; Second Corrective City DeedJ 53098 Exhibit B Resolution No. of the City Commission of the City of Miami, passed and adopted on Dw; Second Corrective City DeedA53098 This Instrument Prepared By and Re ro To: Denise Walace, Esq. City of Mia i Office of the Attorney 444 SX 2ND A`(�nie Miami, Florida 3313.Q1-1910 OND CO M7 THIS SECOND C1RRECTIVE CITY DEED is made as of the day of 2009, by We City of Miami, a municipal corporation of the State of Florida, with an address aAA4 S.W. 2nd Avenue, Miami, Florida 33130 (hereinafter referred to as the "City") to A apattah Business Development Authority, Inc., a not for profit corporation with offices at 2634 NW 21St Avenue, Miami, Florida 33142 (hereinafter referred to as the "Gra tee"). WITNESS: That the City, f6k and in consideration of the sum of Ten Dollars ($10,00) to it in hand paid by the Grant , receipt of which is hereby acknowledged, does hereby remise, release, convey and qui%aim unto the Grantee, its heirs and its assigns, subject to the right of reverter set below, l1 of the City's rights, title and interest in that certain land situate in Miami -Dade Coun Florida, hereinafter referred to as the "Property", to wit: As described in Exhibit "A" attached her to and made a part hereof, and hereinafter referred as the "Property". This Second Corrective City Deed conveys Orielthe interests of the City in the Property described herein, and shall not warrant title the' This Second Corrective City Deed is made and exec tedupon, and is subject to, the following conditions, restrictions and covenants, which a part of the consideration for the Property conveyed and are taken and construed as ruQ with the land: 1, The Grantee agrees for itself and its successors a d assigns that for a period of twenty (20) years from the completion of construction, 4 evidenced by the receipt of all required certificates of occupancy for both homes herein er described, the Property shall only be used to provide one (1) owner occupied twin ho e (single-family home) for individuals and/or families within the economic affordabilit range of low income families and/or individuals, based on criteria established by feder k and/or state law or by the City Commission of the City of Miami, and shall be subject to the covenants set forth hereunder. THIS DEED CORRECTS CONDITIONS/RESTRICTIONS STATED IN PAR PH NUMBERS 1 AND 2 IN THAT CERTAIN CITY DEED DATED DECEMBER 10, 004, RECORDED MARCH 21, 2005, IN OFFICIAL RECORDS BOOK 23186, AT PAGE 3 83, OF THE PUBLIC RECORDS OF MIAMI -RADE COUNTY, FLORIDA. 1 Dw: Second Corrective City Deed: 153098 2. Grantee shall commence the construction of one (1) owner occupied twin home'_.,(the "Improvements") on the Property on or before June 30, 2009, or such later date as .may be approved by the City Commission of the City of Miami, and shall continuediligently 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 on or before June 30, 2010, 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 leery or attachment to be made, or any materialman's or mechanic's lien, or any encumbrance or 1 ien 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 tisoft costs relating to the construction of the Improvements in an amount(s) not, to exceed the value of the Improvements as detennined 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 Governrrient 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 written consent of the City. The restrictions, conditions and covenants set forth in Sections 1 through 6 of this Second Correcti-ve City Deed shall be deemed covenants running with the land and shall 2 Dw: Second Corective City Deed:153098 bending to the fullest extent permitted by law and equity, and enforceable by, for the bene I4 and in favor of, the City. The City shall have the right to exercise all the rights and reri)edies 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 Second 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 Second 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, tl�' Grantee or its successors or assigns shall correct or cure the default/violation within tHiTty (30) days of notification of the default by the City (the "Cure Period"). If Grantee ''qr 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,1 to be executed the day and year first Signed, sealed and delivered in our presence: Print Name: Print Name: Approved as To Form And Correctness: Julie 0, Bru City Attorney LeeAnn Brehm Risk Management City has caused this Second Corrective City Deed S,ve written. 3 Dw: Second Corrective City Deed: 153098 City of Miami, a municipal corporation of the State of Florida Pedro G. Hernandez City Manager Priscilla A. Thompson City Clerk ATE OF FLO RIDA ) ) SS kUNTY OF DADE ) The foregoing instrument was acknowledged before me this day of 2009 by as City Manager of the City of Miam\aniatli municipal corporation of the State of Florida, who is personally known to me or who produced as identification and who did/did not take, Printed Name: Notary Public My Commission Expires: The foregoing conveyance was app% ved pursuant to Resolution No. of the City Commission of the City of Mia ', a municipal corporation of the State of Florida, passed and adopted on A copy of Resolution No. is attached hereto as Exhibit "B". 4 Dw: Second Corrective City Deed: 153098 law: Second Corrective City Deed: 153098