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Home My WebLink AboutAttachment CThis Instrument Prepared By and Return To: Kirk R. Menendez, Esq. City of Miami City Attorney's Office 444 S.W. 2N Avenue Miami, Florida 33130-1910 ATTACHMENT C DECLARATION OF RESTRICTIVE COVENANTS 111E.41111111111111111111111111111111111111 CFN 2007FL07 5;3013 OR 8k 25820 Pss 1439 - 1443; (sass RECORDED 07 /31/ 2i t0 7 13:11: 56 HARVEY RUVIN, CLERK OF COURT MIAMI-GAGE COUNTY, FLORIDA This Declaration of Restrictive Covenants (the "Covenant") made this 28th day of June 2007 by 1035 N. Miami Ave, LLC a Florida for -profit corporation (hereinafter referred to as "Property Owner"), is in favor of the City of Miami, a municipal corporation of the State of Florida (hereinafter referred to as the "City"). RECITALS WHEREAS, the City Commission, by Resolution No. 05-0684, adopted November 17, 2005, amended Resolution No. 05-0382, adopted June 9, 2005, and Resolution No. 05-0477, adopted July 28, 2005, allocated funds and awarded a grant to Downtown Miami Partnership, Inc., a Florida not -for -profit corporation ("DMP"), for the impleme station of an Urban Neighborhood Job Creation Program which will -provide rehabilitation of building exteriors and job creation opportunities for City of Miami residents ("Project"). WHEREAS, the City and the Property Owner intend and agree that DMP shall provide commercial rehabilitation improvements to a commercial building(s) owned by the owner on the property located at 1035 N. Miami Ave. (the "Property") as more particularly described in Exhibit A; and WHEREAS, Property Owner desires to make a binding commitment to assure that the Property shall be developed in accordance with the provisions of this Covenant. NOW THEREFORE, Property Owner voluntarily covenants and agrees that the Property shall be subject to the following restrictions that are intended and shall be deemed to be covenants running with the land and binding upon Property Owner, and its heirs, successors and assigns as follows: Section 1. The recitals and findings set forth in the preamble of this Coven hereby adopted by reference thereto and incorporated herein as if fully set forth in this Sect Section 2. Use of Grant: The Grant shall be used exclusively for constructio resulting in the creation of jobs associated with the Project as more particularly describ Exhibit B attached hereto and made part hereof. Section 3. Term of Covenant: This Covenant shall remain in full force and effect { sA and shall be binding upon the Property Owner, its successors and assigns for a period of five (5) `�,k6,;� years commencing on the date of final allocation of funds for the project. Property Owner is required to reimburse the City if the Property is sold before 5 years after the final allocation is made. In addition, if the required jobs are not created within a 6 month period after the Certificate of Occupancy is issued or its equivalent is accepted by the City, the Property Owner is required to reimburse the City completely (100%) in the amount of $75,000.00. If the Property is sold after 5 years and the business has met the job creation requirements, there will be no requirement for reimbursement of funds. Section 4. Property Owner covenants and agrees not to encumber or convey any interest in the Property without the prior written consent of the City. For the purposes of this Covenant, any change in the ownership or control of Property Owner shall be deemed a conveyance of an interest in the Property. Section 5. Property Owner covenants and agrees that in the event (i) of a conveyance of any interest in the Property without the prior written consent of the City, or, (ii) that Property Owner ceases to exist as an organization, Property Owner shall immediately reimburse the City completely 100%. Section 6. Property Owner covenants and agrees that any deed conveying the Property to a buyer shall contain the following restrictive covenant: "This property, in accordance with the Declaration of Restrictive Covenant executed in favor of the City of Miami, is subject to the following restrictions and requirements for a period of five (5) years from the date of issuance of the certificate(s) of occupancy (the "Covenant Period"): (i) that the property owner is required to reimburse the City of Miami completely (100%) in the amount of $75,000.00 if the Property is sold before 5 years after the final allocation is made: in addition, if the required jobs are not created within a 6 month period after the Certificate of Occupancy is issued or its equivalent is accepted by the City of Miami, the property owner is required to reimburse the City of Miami completely (100%) in the amount of $75,000.00; and (ii) that any purchaser or other prospective owner of the property during the Covenant Period must receive prior written approval of the City of Miami." Section 7. Inspection and Enforcement: It is understood and agreed that any official inspector of the City shall have the right any time during normal working hours to enter the Property and investigate the use of the Project/Property to determine whether the conditions of this Covenant are being complied with. Section 8. Amendment and Modification: This Covenant may be modified, amended, or released as to any portion of the Project/Property by a written instrument executed on behalf of the City and by the then owner of the fee simple title to the land to be affected by such modification, amendment or release. Should this instrument be modified, amended or released, the City Manager shall execute a written instrument in recordable form to be recorded in the Public Records of Miami -Dade County, Florida, effectuating and acknowledging such modification, amendment, or release. Section 9. Severability: Invalidation of one of the provisions of this Covenant by judgment of Court shall not affect any of the other provisions of the Covenant, which shall remain in full force and effect. -2- Section 10. Recordation: This Covenant shall be filed of record among the Public Records of Miami -Dade County, Florida, by the City of Miami at the sole cost and expense of Property Owner. Section 11. This Covenant is a covenant running with the land. After the expiration of the Covenant Period, this Covenant shall lapse and be of no further force and effect. Section 12. All capitalized terms not defined herein shall have the meanings provided in the Agreement. IN WITNESS WHEREOF, Property Owner has caused this Declaration of Restrictive Covenants to be executed by its duly authorized officers and the corporate seal to be affixed hereto on the day and year first above -written. Josie Correa, Executive Director Downtown Miami Partnership, Inc. 25 SE 2nd Ave., #1007 Miami, FL 33131 1035 N. MI ,u I AE. LLC a Florida or-; rporation By: Chris , Managing Partner -3- STATE OF FLORIDA ACKNOWLEDGMENTS ) SS: COUNTY OF MIAMI-DADE ) THE FOREGOING INSTRUMENT was acknowledged before me on this . luCl r , 2041-by Cnrtsler [ic,l acd as CLI.Ma.fs of /03SN th icuL{. atlei-44-behalf of SK ,tet• JOE a.(', who is personally known to me or who produced F(A f)tt ti.fi-c L-iCCn1S' . as identification and did/did not take an oath. Declaration of Restrictive Covenant — DMP Project 2-7-06 O day of . tcSe-ioli '-( Signature of Notary Public AYThJ' C., W Name of Notary Public, typed, printed or stamped Notary Public State of Florida at Large Serial number, if any: 4l ANGELA C. Ylu MY COMMISSION NOG 282008 EXPIRES: Amoy It 2008 UAW ihnu taro Aft Und wnt«. -4- OR "'•K 25320=0 PG 1 4-4-3 LA " PAGE EXHIBIT A Legal Description of the Property Folio Number: 01-0101-080-1070 MIAMI NORTH PB B-41 N125FT OF LOT 10 BLK 18 LOT SIZE 5000 SQUARE FEET OR 19486-0486 0101 6 COC 22526-1465 07 2004 1 STATE OF FLORIDA, COUNTY Of DADE f HEREBY CERTIFY Mal Mra is a true Dopy of Mee ()whet hied in this dnce on - r di)/ of , A D 20 WITNESS, y nand 9nd Official Seal. HARVEY MAIN, CLERK, of Crrrurt n 1 County Courts Qy _mac ii,ty D.C. -5-