HomeMy WebLinkAboutexhibit4OPINION OF TITLE
To: CITY OF MIAMI, FLORIDA, a municipal corporation
With the understanding that this opinion of title is furnished to CITY OF MIAMI, FLORIDA, a
municipal corporation, in compliance with Section 55-8 of the Miami City Code and as an inducement for
acceptance of a proposed final subdivision plat covering the real property described in Exhibit "A"
attached hereto ("Property"). It is hereby certified that we have examined (i) Title Insurance
Commitment No. 300312221 issued by Chicago Title Insurance Company, with an effective date of
November 14, 2004 at 11:00 p.m. (the "Title Evidence"), which title information covers the period from
the BEGINNING through November 14, 2004 at 11:00 p.m., inclusive, with respect to the Property.
Basing our opinion solely on the aforesaid Title Evidence covering said period, we are of the
opinion that on the last mentioned date, the fee simple title to the Property was vested in:
Urban One Development, LLC, a Florida limited liability company
Subject to the following liens, encumbrances, and other exceptions:
1. RECORDED MORTGAGES:
(a) Mortgage from Urban One Development, LLC, a Florida limited liability company, to
Walden Capital Corporation, a Florida corporation, dated February 14, 2003, and
recorded February 26, 2003 in Official Records Book 21060 at Page 292, along with
UCC-1 Financing Statement filed February 26, 2003 in Official Records Book 21060 at
Page 289, as amended by that certain UCC-1 Financing Statement Amendment Form
filed June 9, 2004 in Official Records Book 22380 at Page 3412, as affected by that
certain Future Advance Receipt and Modification of Mortgage and other Loan
Documents, dated July 11, 2003, and recorded July 17, 2003 in Official Records Book
21434 at Page 4141, as affected by that certain Second Future Advance Receipt and
Modification of Mortgage and other Loan Documents, dated February 27, 2004, and
recorded March 5, 2004 in Official Records Book 22096 at Page 22, as affected by that
certain Subordination Agreement, dated June 6, 2004, and recorded June 9, 2004 in
Official Records Book 22380 at Page 3379.
(b) Mortgage from Urban One Development, LLC, a Florida limited liability company, to
Ocean Bank, a Florida banking corporation, dated June 4, 2004, and recorded June 9,
2004 in Official Records Book 22380 at Page 3384, along with that certain Assignment
of Leases, Rents, and Profits, dated June 4, 2004, and recorded June 9, 2004 in Official
Records Book 22380 at Page 3399, and that certain UCC-1 Financing Statement filed
June 9, 2004 in Official Records Book 22380 at Page 3406, and that certain Collateral
Assignment of Development Documents and Covenants, dated June 4, 2004, and
recorded June 9, 2004 in Official Records Book 22380 at Page 3408.
2. RECORDED MECHANICS LIENS, CONTRACT LIENS AND JUDGMENTS:
None.
3. GENERAL EXCEPTIONS:
(a) All taxes or assessments for the year 2005 and all subsequent years.
Opinion of Title
Urban One Development, LLC
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(b) Rights of parties in possession other than the above owner.
(c) Facts that would be disclosed by an accurate survey of the Property.
(d) Any unrecorded laborer's, mechanics' or materialmens' liens and municipal liens.
(e) Zoning and other restrictions imposed by governmental authority.
(0 Any adverse claim to any portion of said land which has been created by artificial means
or has accreted to any such portion so created and riparian rights, if any.
4. SPECIAL EXCEPTIONS:
(a) Covenant Running With The Land in favor of the City of Miami recorded June 15, 1990
in Official Records Book 14588, Page 3468.
(b) Miami Zoning Board Resolution No. 2002-0591 recorded in Official Records Book
20667, Page 3258, as modified by Resolution 2003-0719, filed September 18, 2003 and
recorded in Official Records Book 21657, at Page 4595.
(e)
The Northerly 5 feet of Lots 2 and 3, Block 7, conveyed to the City of Miami by
Deeds filed in Deed Book 1094, Page 521 and Deed Book 1101, Page 255.
(d) Covenants, conditions and restrictions set out in that Agreement of Water and
Sanitary Sewage Facilities between Miami -Dade County and Urban One Development,
LLC, a Florida limited liability company, filed August 22, 2003 and recorded in Official
records Book 21560, at Page 3351.
(e)
Resolution No. 2003-0718 of the Miami Zoning Board, filed September 18, 2003
and recorded in Official Records Book 21657, at Page 4592.
(fj Addendum Number One to Agreement by and between Miami -Dade County and Urban
One Development, LLC filed October 15, 2003 and recorded in Official Records Book
21740, at Page 1598.
(g)
Notice of Commencement recorded June 9, 2004 in Official Records Book 22380 at Page
3413.
(h) Hold Harmless and Indemnification Agreement by and between Urban One
Development, LLC, a Florida limited liability company and the City of Miami, Florida, a
municipal corporation, dated February 29, 2004, and recorded June 10, 2004 in Official
Records Book 22385 at Page 4163.
All of the recording information contained herein refers to the Public Records of Miami -Dade
County, Florida.
Therefore, it is our opinion that the following parties must join in the platting of the above
described real property in order to grant CITY OF MIAMI, FLORIDA and the public, a good and proper
title to any dedicated areas shown on the final plat of the Property, the subdivision thereof to be known as
PARC LOFTS:
Opinion of Title
Urban One Development, LLC
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NAME
INTEREST SPECIAL EXCEPTION NUMBER
Urban One Development, LLC
a Florida limited liability
company
Fee simple
Walden Capital Corporation, Mortgagee
a Florida corporation
Ocean Bank, a Florida banking Mortgagee
corporation
With respect to the reversionary rights for the right-of-way portion of the Property to be closed
and vacated, as more particularly described in Exhibit "B" attached hereto and incorporated herein
("Alleys"), we have examined the Florida Statute and have determined that Section 177.085 of the Florida
Statutes ("Statute") reads as follows:
"When any owner of land subdivides the land and dedicates streets, other roadways, alleys or
similar strips on the map or plat, and the dedication contains a provision that the reversionary
interest in the street, roadway, alley or other similar strip is reserved unto the dedicator or his
heirs, successors, assigns, or legal representative, or similar language, and thereafter conveys
abutting lots or tracts, the conveyance shall carry the reversionary interest in the abutting street to
the center line or other appropriate boundary, unless the owner clearly provides otherwise in the
conveyance."
Based upon the presumption that proper and appropriate steps have been taken to close the
Alleys, the presumption that none of the deeds in the chain of title of the abutting land contained a
personal reversionary interest in the abutting streets, and further presumption that none of the plats as
described in Exhibit "A" contained a personal reversionary interest, or required the joinder of any other
parties, it is our opinion that by virtue of the conditions set forth in the Statute, that that the Alleys have
become the property of the abutting land owners to the centerline on each side: Since the same owners
own all lots and the abutting land, that ownership by virtue of the closing of the Alleys adjoining the
respective land, has placed title to the Alleys in the abutting land owners, Urban One Development, LLC;
further, since the Property encompasses the Alleys, it is our opinion that fee simple ownership of the
Alleys, upon proper vacation, shall revert to the existing titleholder of the Property, Urban One
Development, LLC.
[signature on following page]
Opinion of Title
Urban One Development, LLC
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I, the undersigned, further certify that I am an attorney -at -law duly admitted to practice in the
State of Florida, and am a member in good standing of the Florida Bar.
STATE OF FLORIDA
) SS:
COUNTY OF MIAMI-DADE
Respectfully submitted this
f day of December, 2004
GREENBERG TRAURIG, P.A.
By:
Carlos'M Rodrigue
1221 Brickell Avenue
Miami, Florida 33131
(305) 579-0500
The foregoing instrument was acknowledged before me this day of December 2004,
by Carlos M. Rodriguez, who is personally known to me and did take an oath.
Print Name
Notary Public, State of Florida
Commission No.
My Commission Expires:
Opinion of Title
Urban One Development, LLC
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