HomeMy WebLinkAboutexhibit1This Instrument was prepared by:
William R. Bloom
Holland & Knight LLP
701 Brickell Avenue
Suite 3000
Miami, FL 33131
RELEASE
This Release is made this day of , 2005, by the CITY OF MIAMI, a
municipal corporation of the. State of Florida of 444 S.W. 2nd Avenue, Miami, Florida 33130
(the "CITY").
RECITALS
A. The CITY conveyed the property described on Exhibit "A" attached hereto and
made a part hereof (the "Property") to OMNI Community Redevelopment Agency, a body
corporate and politic of the State of Florida (the "CRA") by Quit Claim Deed dated March 15,
2002 and recorded April 5, 2002 in the Official Records Book 20315, at Page 1675 of the Public
Records of Miami -Dade County, Florida (the "Deed').
B. The Deed contained the following restrictions (the "Restrictions"):
Subject to the following restrictions, conditions and reverter
provisions thus limiting the conveyance herein for redevelopment
purposes only:
(1) The property subject to this conveyance shall only
be used for development of a mixed -use (for profit) residential
project, with residential buildings of alternating heights, and
containing a commercial component along Biscayne Boulevard,
per plans on file with the City of Miami, Florida.
(2) The residential component of any project or
development that includes any part of the property subject to this
conveyance shall be limited to no more than 450 residential units.
(3) The project or development that includes any part of
the property subject to this conveyance shall be developed in
accordance with plans on file, reviewed and approved by the City
of Miami, Florida, Planning and Zoning Departments.
(4) Any developer who intends to develop the property
subject to this conveyance shall construct the portion of North
Bayshore Drive required to connect the existing portion of North
Bayshore Drive on the north to Northeast 19th Street on the south.
Plans and specifications for the construction of this portion of
North Bayshore Drive, including but not limited to, sidewalk,
baywalk, curb and gutter, access to Margaret Pace Park, landscape
and lighting (collectively, the "Street Improvements"), total cost of
which Street Improvements shall be the sole responsibility of the
developer, shall not be less than $355,410.00 and shall be
approved by the City Manager or his/her authorized designee prior
to the issuance of any building permit for any development that
includes the property subject to this conveyance. The construction
of the Street Improvements shall be completed and dedicated to the
City of Miami, Florida, as public right-of-way prior to the issuance
of a Certificate of Occupancy, either temporary or permanent, for
any development that includes the property subject to this
conveyance.
(5) Any developer who intends to develop the property
subject to this conveyance shall obtain design review and approval
from the Director of the City of Miami, Florida, Department of
Planning and/or the City of Miami Urban Development Review
Board ("UDRB"), as applicable, before the issuance of any
building permit for any development that includes the property
subject to this conveyance.
(6) Any developer who intends to develop the property
subject to this conveyance shall release all legal right, title or
interest in Margaret Pace Park in favor of the City of Miami,
Florida, before the issuance of any building permit for any
development that includes the property subject to this conveyance.
(7) Any development shall be subject to current
comprehensive planning, zoning regulations, subdivision
restrictions, plat restrictions and easements, if any, and taxes for
the current year and subsequent years.
C. The Deed further provided that title to the Property would revert to the CITY if
the Restrictions were not complied with.
D. The Deed further provided that after a final Certificate of Occupancy was issued
for the project on the Property subject to the conveyance evidencing compliance with the
restrictions and conditions set forth in the Deed, that at the request of the CRA, or its successors
and assigns, the CITY would execute a release evidencing the satisfaction of the restrictions and
terminating the reverter rights in favor of the CITY.
E. Final Certificates of Occupancy have been issued for the project located on the
Property and MCZ Bayshore, LLC, successor by merger to Finger Biscayne, LLC; and successor
in interest in the Property to the CRA has requested a release evidencing the satisfaction of the
restrictions and termination of the reverter rights in favor of the CITY.
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NOW THEREFORE, in consideration of the sum of Ten Dollars ($10.00) and other
valuable consideration, receipt of which is hereby acknowledged, the CITY hereby
acknowledges the following:
1. Recitals: The recitals to this Release are hereby incorporated herein and made a
part hereof.
2. Compliance with Restrictions. The CITY acknowledges that final Certificates of
Occupancy have been issued for the project located on the Property evidencing compliance and
satisfaction of the restrictions and conditions set forth in the Deed.
3. Release of Reverter. The CITY hereby terminates the right of reverter in favor of
the CITY contained in the Deed.
IN WITNESS WHEREOF, the CITY has executed this Release as of the day and year
first above written.
ATTEST: CITY OF MIAMI, A MUNICIPAL CORPORATION
OF THE STATE OF FLORIDA
PRISCILLA A. THOMPSON, JOE ARRIOLA,
CITY CLERK CITY MANAGER
WITNESS
WITNESS
APPROVED AS TO FORM AND
CORRECTNESS:
JORGE L. FERNANDEZ,
CITY ATTORNEY
STATE OF FLORIDA)
) SS
COUNTY OF DADE )
The foregoing instrument was acknowledged before me this day of
, 2005 by Joe Arriola as City Manager of CITY OF MIAMI, a municipal
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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, Miami -Dade County, Florida, passed and adopted on
, 2005. A copy of Resolution No, is attached hereto as Exhibit "B".
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