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HomeMy WebLinkAboutDevelopment Agreement-SUBDEVELOPMENT AGREEMENT BETWEEN CITY OF MIAMI, FLORIDA AND MIAMI WORLDCENTER GROUP, LLC REGARDING DEVELOPMENT OF THE MIAMI WORLD CENTER PROJECT THIS AGREEMENT is entered this day of November, 2008, by and between MIAMI WORLDCENTER GROUP, LLC., a Florida limited liability company ("MWC") and its undersigned affiliates (collectively the "Developer Parties"), and the CITY OF MIAMI, FLORIDA, a municipal corporation and a political subdivision of the State of Florida ("City"). WITNESSETH: WHEREAS, the City wishes to encourage redevelopment of the property bounded by NE 2"d Avenue on the east, North Miami Avenue on the west, NE 11t1i Street on the north, and NE 6t1i Street on the south ("Miami WorldCenter District"); WHEREAS, on November 13, 2008 the City Commission approved the rezoning of the Miami WorldCenter District from SD-16.1 to SD-16.3; WHEREAS, Developer Parties hold the fee simple title to certain real property situated in the Miami WorldCenter District (the "Property" and collectively, as the "Properties"; legal descriptions of which are attached as Exhibit "A"). The Property only includes land held in fee simple by the Developer Parties; WHEREAS, Developer Parties may acquire fee simple title to certain other real property situated in the Miami WorldCenter District (the "Property Not -Included", legal descriptions of which are attached as Exhibit "B"). The Property Not -Included is land that is not held in fee simple by any of the Developer Parties; WHEREAS, the Developer Parties contemplate constructing within the Miami WorldCenter District a large, high -density, mixed -use development consisting of multiple buildings, public open space, enhanced pedestrian areas and access to mass transit, commonly referred to as the Miami World Center ("Project"); WHEREAS, the Developer Parties contemplate that the Project will have a site plan, including open spaces and building layout, substantially in accordance with the Conceptual Site Plan attached as Exhibit "C" ("Conceptual Site Plan"); WHEREAS, the Developer Parties and the City acknowledge that the Conceptual Site Plan and each of its elements may only be achieved if the Developer Parties own sufficient property to make each of the open spaces and buildings both physically and financially feasible; WHEREAS, the lack of certainty in the approval of development can result in a waste of economic and land resources, discourage sound capital improvement planning and financing, escalate the cost of housing and development, and discourage commitment to comprehensive planning; {M2727171;7} 1 30b$1 i4Qd Hum- r WHEREAS, assurance to a developer that it may proceed in accordance with existing laws and policies, subject to the conditions of a development agreement, strengthens the public planning process, encourages sound capital improvement planning and financing, assists in assuring there are adequate capital facilities for the development, encourages private participation in comprehensive planning, and reduces the economic costs of development; WHEREAS, the Property in the Miami WorldCenter District is designated Restricted Commercial in the Comprehensive Plan, and zoned as SD-16.3 in the Existing Zoning; WHEREAS, the Property outside the Miami WorldCenter District are zoned various other designations according to the Existing Zoning; WHEREAS, the Developer Parties and the City mutually desire that the Properties be developed as permitted in the Existing Zoning, the Comprehensive Plan and this Agreement; WHEREAS, the City Commission pursuant to Resolution No. , adopted November 13, 2008 has authorized the City Manager to execute this Agreement upon the teiins and conditions as set forth below, and the Managing Members or Boards of Directors of the Developer Parties or their parent or controlling entities have authorized the Developer Parties to execute this Agreement upon the teiliis and conditions set forth below; WHEREAS, the Project is located in the Southeast Overtown Park West Development of Regional Impact ("SEOPW DRI") and the Southeast Overtown Park West Community Redevelopment Area ("CRA"); WHEREAS, as of the Effective Date the SEOPW DRI has insufficient development capacity to accommodate the Project; and WHEREAS, to facilitate the Project, the CRA plan and the SEOPW DRI may need to be amended, subject to any required legal procedures and approvals; NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained, the parties mutually agree and bind themselves as set forth herein: Section 1. The parties hereby agree that the consideration and obligations recited and provided for under this Agreement constitute substantial benefits to both parties and thus adequate consideration for this Agreement. This covenant shall be binding upon, and inure to, the benefit of the parties, their successors, assigns, heirs, legal representatives, and personal representatives. Section 2. Rules of Legal Construction. For all purposes of the Agreement, unless otherwise expressly provided: (a) A defined term has the meaning assigned to it; (b) Words in the singular include the plural, and words in plural include the singular; {M2727171;7} 2 (c) A pronoun in one gender includes and applies to other genders as well; (d) The terms "hereunder", "herein", "hereof, "hereto" and such similar teiiiis shall refer to the instant Agreement in its entirety and not to individual sections or articles; (e) The Parties hereto agree that this Agreement shall not be more strictly construed against either the City or any Developer Party as all parties are drafters of this Agreement; and (f) The recitals are true and correct and are incorporated into and made a part of this Agreement. The attached exhibits shall be deemed adopted and incorporated into the Agreement; provided however, that this Agreement shall be deemed to control in the event of a conflict between the attachments and this Agreement. Section 3. Definitions. "Agreement" means this Agreement between the City and Developer Parties. "City" means the City of Miami, a municipal corporation and a political subdivision of the State of Florida, and all departments, agencies and instrumentalities subject to the jurisdiction thereof. "Comprehensive Plan" means the comprehensive plan adopted by the City pursuant to Chapter 163, Florida Statutes (2008), meeting the requirements of Section 163.3177, Florida Statutes (2008), Section 163.3178, Florida Statutes (2008) and Section 163.3221(2), Florida Statutes (2008), which is in effect as of the Effective Date. "County" means Miami -Dade County, a political subdivision of the State of Florida. "Development" means the carrying out of any building activity, the making of any material change in the use or appearance of any structure or land, or the dividing of land into three or more parcels and such other activities described in Section 163.3221(4), Florida Statutes (2008). "Effective Date" is the latter of the dates of recordation of this instrument or thirty days after this instrument has been received by the state land planning agency pursuant to Section 163.3239, Florida Statutes (2008). "Existing Zoning" is (a) the City of Miami Ordinance No 11000, adopted March 8, 1990, and amended through the Effective Date, specifically including the SD 16.3 zoning district regulations and subject to an escalating Affordable Housing Trust Fund contribution to be determined at the time of building permit, and (b) the provisions of the Charter and City Code of Miami ("Code") which regulate development, specifically including Chapters 10, 13, 22, 23, 36, 54, 55 and 62 of the Code as amended through the Effective Date, which together comprise the effective land development regulations governing development of the Property as of the Effective Date. {M2727171;7 } 3 "Land" means the earth, water, and air, above, below, or on the surface and includes any improvements or structures customarily regarded as land. "Laws" means all ordinances, resolutions, regulations, comprehensive plans, land development regulations, and rules adopted by a local government affecting the development of land. "Property Interest" means any interest or rights in real property or appurtenances of the Properties, including but not limited to, fee simple, leasehold, condominium, transferable development right or air rights, and licenses, however acquired, including any interests or rights in real property acquired through foreclosure, deed in lieu of foreclosure or any other realization of a security interest in real property. Without limiting the foregoing, a Community Development District and/or a master property owners' association with appropriate authority relating to one or more of the Properties shall be deemed to hold a Property Interest. "Public Facilities" means major capital improvements, including, but not limited to, transportation, sanitary sewer, solid waste, drainage, potable water, educational, parks and recreational, streets, parking and health systems and facilities. Section 4. Purpose. The purpose of this Development Agreement is to establish certain conditions which will result in the Developer Parties providing Open Spaces to the City, and to freeze, as of the Effective Date, the land development regulations which will govern development of the Project. This Agreement will provide both parties with additional certainty during the development process. S^eti*-4;Section 5. Intent. The Developer Parties and the City intend for this Agreement to be construed and implemented so as to effectuate the purpose of this Development Agreement and the purpose and intent of the Florida Local Government Development Agreement Act, Section 163.3220 - 163.3243, Florida Statutes (2008). Section 6. Applicability. This Agreement applies only to the Properties located in the Miami WorldCenter District. Additional property may be subsequently incorporated into this agreement and bound by the rights and obligations established hereunder, only if such additional property is acquired by a Developer Party and is incorporated pursuant to the joinder provisions of Section 20. Section 5.Section 7. Tenn and Effective Date. This Agreement shall have a teiin of twenty (20) years from the Effective Date and shall be recorded in the public records of Miami -Dade County and filed with the City Clerk. The term of this Agreement may be extended upon execution of a written instrument approved by the Developer Parties and the City Commission or any other legally required authority. This Agreement shall become effective on the Effective Date and shall constitute a covenant running with the land See-tion-6,Section S. Peiunitted Development Uses and Building Intensities. (a) SD-16.3 Zoning District Designation. The City has designated the area bounded by NE 2" a Avenue on the east, North Miami Avenue on the west, NE 11t1' Street on the north, and NE 6th Street on the south as SD-16.3 on the official zoning {M2727171;7} 4 Atlas of the City, pursuant to the applicable procedures in the Existing Zoning. The SD-16.3 zoning district regulations are attached as Exhibit "D". In approving the SD 16.3 zoning district designation, the City has determined that the uses, intensities and densities of development permitted thereunder are consistent with the Comprehensive Plan and the Existing Zoning. (b) Density, Intensity, Uses and Building Heights. (1) As of the Effective Date and pursuant to the Existing Zoning, the density permitted on the Property is approximately 300 units per acre, and the intensity permitted on the Property is measured by a base floor area ratio of approximately 4.32, plus any applicable bonuses provided in the Existing Zoning. (2) The non-residential development permitted on the Property includes, but is not limited to, the following uses: office, hotel, retail, convention space, academic space and any other uses permitted by the Existing Zoning. (3) The height for any development on the Properties shall be regulated by the Existing Zoning and the Comprehensive Plan. (4) Nothing herein shall prohibit an increase in the density or intensity of development permitted on the Properties in a manner consistent with (a) the Existing Zoning and/or the Comprehensive Plan, (b) any zoning change subsequently requested or initiated by any Developer Party in accordance with applicable provisions of law or (c) any change to the zoning district regulations, the zoning atlas or the land development regulations subsequently enacted by the City. Section 9. Public Facilities. As of the Effective Date, the Developer Parties are conducting an extensive analysis of the Public Facilities available to serve the Project. In the event that the Existing Zoning and/or the Comprehensive Plan require the Developer Parties to provide additional Public Facilities to accommodate the Project, the Developer Parties will provide such Public Facilities consistent with the timing requirements of Section 163.3180(2)(a), (b) and (c), Florida Statutes (2008), or as otherwise required by a DRI development order and Chapter 13 of the City Code, as amended from time to time, if applicable. Section 10. Project Approval. (a) Further Development Review. The Existing Zoning, the Comprehensive Plan and this Agreement establish the criteria upon which the Properties shall be developed during the term of this Agreement. (b) Prohibition on Downzoning. (1) The Existing Zoning, the Comprehensive Plan and this Agreement shall govern development of the Properties for the duration of the Agreement. City's laws and policies adopted after the Effective Date may be applied to {M2727171;7} 5 (c) the Properties only if the deteiiuinations required by Section 163.3233(2), Florida Statutes (2008) have been made after 30 days written notice to the Developer Parties and at a public hearing. (2) Pursuant to Section 163.3233(3), Florida Statutes (2008), this prohibition on downzoning supplements, rather than supplants, any rights that may vest to the Developer Parties under Florida or Federal law. As a result, the Developer Parties may challenge any subsequently adopted changes based on (a) common law principles including, but not limited to, equitable estoppel and vested rights, or (b) statutory rights which may accrue by virtue of Chapter 70, Florida Statutes (2008). Development of Regional Impact. (1) City acknowledges that the development entitlements remaining in the SEOPW DRI are not sufficient to accommodate the Project. City further acknowledges that the development entitlements currently remaining in the SEOPW DRI are not sufficient to allow build -out of properties within the boundaries of the SEOPW DRI, as permitted under the Existing Zoning and the Comprehensive Plan. (2) Subject to required legalprocesses and approvals, the City and the Developer Parties shall cooperate, and the City shall expeditiously consider (a) the application to approve Increment III to the SEOPW DRI and (b) amendment of the SEOPW DRI to accommodate the Project, as well as additional development within the boundaries of the SEOPW DRI. If applicable, the City also agrees (a) to expeditiously consider the Developer Parties' application for a new Development of Regional Impact for the Project or (b) to support other applications or legislation that either (i) increases the allowable thresholds for development so that the Project is not required to be reviewed under Section 380.06, Florida Statutes (2008), or (ii) exempts the Project from review under Section 380.06, Florida Statutes (2008). (3) (4) City agrees that any DRI development order which the City adopts after the Effective Date and which applies to the Properties, will include a Use/Intensity conversion table to allow for a reasonable level of flexibility with respect to the mix and intensity of uses in order to respond to changing market conditions. (5) In the event Project is not exempt from DRI review and is developed pursuant to a DRI development order, Developer Parties agree to pay their proportionate share of the costs of mitigating the off -site impacts to regional infrastructure, as determined by the DRI development order or as required by Chapter 13 of the City Code, as amended from time to time. Section 11. Reservation or Dedication of Land. {M2727171;7} 6 (a) Except as otherwise provided in this Agreement and pursuant to applicable subdivision regulations, the Developer Parties shall not be required to dedicate or reserve any land within the Properties for municipal purposes. (b) The Developer Parties agree to create within the Project (1) one public open space of at least 20,000 square feet, (2) one public open space of at least 14,000 square feet, (collectively the "Open Spaces") and (3) wide sidewalks designed to accommodate increased pedestrian activity that will include shopping, entertainment and outdoor seating, as generally labeled on the Regulating Plan attached as Exhibit "E". (c) The Developer Parties will retain ownership of the Open Spaces but hereby agree to grant the City a non-exclusive easement which will allow public access to the Open Spaces (the "Open Space Easement"). The Developer Parties and the City also agree to execute a maintenance, operation and liability agreement (the "Open Space Agreement") to assign certain responsibilities and obligations regarding the Open Spaces. (d) The City and Developer Parties agree to execute and record the Open Space Easement and the Open Space Agreement prior to the City issuing a building permit for more than 4 million square feet of development on the Property. The general location and dimensions of the Open Spaces shall be substantially in accordance with the Regulating Plan, or as otherwise mutually agreed by the Developer Parties and the City. The specific location and dimensions of the Open Spaces will be determined in the Open Space Easement. Developer Parties retain the exclusive right to design, landscape and program the Open Spaces. The conceptual design of the Open Spaces will reviewed by the City and included as part of the Open Space Agreement. (e) (f) Section 12. Job Creation. Developer Parties shall consult with local and state economic development entities, such as Beacon Council, South Florida Workforce, Enterprise Florida, Florida International University School of Hospitality & Tourism Management, and Miami -Dade College in developing a plan for job training and job placement services to city residents seeking employment opportunities with potential employers which will locate or establish business within the Project. tion-9.Section 13. Local Development Permits. (a) The development of the Properties in accordance with the Existing Zoning is contemplated by the Developer Parties. The Project may require additional peiiiiits or approvals from the City, County, State, or Federal government and any division thereof. Subject to required legal process and approvals, the City shall make a good faith effort to take all reasonable steps to cooperate with and facilitate all such approvals. Such approvals include, without limitation, the following approvals and permits and any successor or analogous approvals and peuniits: {M2727171;7} 7 (1) Class II Special Permit and other site plan approvals (including major use special permit, if applicable); (2) Subdivision plat and/or waiver of plat approvals; (3) Covenant or Unity of Title acceptance or the release of existing unities or covenants; (4) (5) (6) (7) Building permits; Certificates of use and/or occupancy; Stormwater Permits; Development of Regional Impact approval, modification or exemption; and (8) Any other official action of the City or other government agency having the effect of peiniitting development of the Properties, (b) In the event that the City substantially modifies its land development regulations regarding site plan approval procedures, authority to approve any site plan for a project on one of the Properties shall be vested solely in the City Manager, with the recommendation of the Planning Director. Any such site plan shall be approved if it meets the requirements and criteria of the Existing Zoning, the Comprehensive Plan and the terms of this Agreement. Seetion40Section 14. Consistency with Comprehensive Plan, The City finds that development of the Properties in conformity with the Existing Zoning is consistent with the Comprehensive Plan. Section 11.Section 15. Necessity of Complying with Local Regulations Relative to Development Peiiuits. The Developer Parties and the City agree that the failure of this Agreement to address a particular permit, condition, fee, term, license, or restriction in effect on the Effective Date shall not relieve the Developer Parties of the necessity of complying with the regulation governing said permitting requirements, conditions, fees, teiuis, licenses, or restrictions as long as compliance with said regulation and requirements does not require any Developer Party to develop a Property in a manner that is inconsistent with Existing Zoning, the Comprehensive Plan and/or the Agreement. Section 12.Section 16. Reservation of Development Rights. (a) For the teini of this Agreement, the City hereby agrees that it shall permit the development of the Properties in accordance with the Existing Zoning, the Comprehensive Plan and the Agreement. (b) Nothing herein shall prohibit an increase in the density or intensity of development permitted on the Properties in a manner consistent with (a) the {M2727171;7} 8 (c) Existing Zoning and/or the Comprehensive Plan, (b) any zoning change subsequently requested or initiated by any Developer Party in accordance with applicable provisions of law or (c) any zoning change subsequently enacted by the City. The expiration or termination of this Agreement shall not be considered a waiver of, or limitation upon, the rights, including, but not limited to, any claims of vested rights or equitable estoppel, obtained or held by any Developer Party or its successors or assigns to continue development of the Property in conformity with Existing Zoning and all prior and subsequent development peitiiits or development orders granted by the City. Section 17. Streetcar. Developer Parties acknowledge that the City is currently planning to construct a light rail transit system commonly referred to as the streetcar, which may traverse or abut the Miami WorldCenter District. Developer Parties agree to cooperate with the City so that any portion of the streetcar route which runs through, or adjacent to, the Miami WorldCenter District can be accommodated within the dedicated public rights -of -way. Section 18. Community Development District. (a) City shall support the creation of a community development district or other independent special district ("District") to assist in funding and constructing onsite and offsite infrastructure and to provide services required to support the Project, and Developer Parties may establish, or cause to be established, such District. (b) In the event that the City and County establish a District for the Project, the District may assume any responsibility of any Developer Party under this agreement. Section 19. Annual Review. (a) The City shall review the development that is subject to this Agreement every 12 months, commencing 12 months after the Effective Date. The City shall begin the review process by giving notice to the Developer Parties, a minimum of 30 days prior to the anniversary date of the Agreement, of its intention to undertake the annual review of this Agreement. (b) Any information required of the Developer Parties during an annual review shall be limited to that necessary to determine the extent to which the Developer is proceeding in good faith to comply with the teiius of this Agreement. For each annual review conducted during the years 6 through 10 of this Agreement, the City shall prepare a written report which will be submitted to the parties to this Agreement and the State land planning agency. (c) If the City finds on the basis of competent substantial evidence that there has been a failure to comply substantially with the terms of the Agreement, the City may {M2727171;7} 9 terminate or amend this Agreement after providing 30 days written notice to the Developer Parties and at a public hearing. Section 20. Notices. (a) All notices, demands and requests which may or are required to be given hereunder shall, except as otherwise expressly provided, be in writing and delivered by personal service or sent by telex, telecopy, telegram, United States Registered or Certified Mail, return receipt requested, postage prepaid, or by overnight express delivery, such as Federal Express, to the parties at the addresses and telecopy numbers listed below. Any notice given pursuant to this Agreement shall be deemed given when received. Any actions required to be taken hereunder which fall on Saturday, Sunday, or United States legal holidays shall be deemed to be perforrued timely when taken on the succeeding day thereafter which shall not be a Saturday, Sunday or legal holiday. To the City: City Manager City of Miami 3500 Pan American Drive Miami, FL 33133 With a copy to: City Attorney Miami Riverside Center 444 S.W. 2nd Ave., 9th Floor Miami, FL 33130 To the Developer Parties: Managing Member Miami WorldCenter LLC. 700 NE 2nd Avenue Miami, FL 33132 With copies to: Berger Singerman Attn: Sam Poole 200 S Biscayne Blvd, Ste. 1000 Miami, FL 33131 With copies to: Akerman Senterfitt Attn: Neisen Kasdin 1 SE 3rd Avenue, 25th Floor Miami, FL 33131 To the SEOPW CRA as courtesy notice: Executive Director {M2727171;7} 10 SEOPW CRA 49 NW 5th Street, Suite 100 Miami, Florida 33128 (b) Any Party to this Agreement may change its notification address(es) by providing written notification to the remaining parties pursuant to the terms and conditions of this section. Section 21. Joinder. (a) If a Developer Party acquires fee simple title to a Property Not -Included subsequent to the Effective Date, the Developer Party may incorporate that property into this Agreement, subjecting it to the rights and obligations established hereunder, provided that the Developer Party executes the Joinder Form and Acknowledgement of Joinder attached as Exhibit "F". Once executed, the Developer Party shall record the executed Joinder Form in the public records of Miami -Dade County and file same with the City Clerk. (b) The parties agree that any property which is incorporated into the Agreement through this Joinder provision shall be subject to the Existing Zoning, the Comprehensive Plan and the teuus of this Agreement. In the event that the City does not afford any subsequently incorporated property with the protections of the Existing Zoning, the Comprehensive Plan and the terms of this Agreement, the City will be deemed to have breached this Agreement. Nothing herein shall prohibit the Developer Parties from objecting to any policy which would not afford a subsequently incorporated property with the protections of the Existing Zoning, the Comprehensive Plan and the terms of this Agreement. ,n-4 Section 22. Exclusive Venue, Choice of Law, Specific Performance. It is mutually understood and agreed by the parties hereto, that this Agreement shall be governed by the laws of the State of Florida, and any applicable federal law, both as to interpretation and performance, and that any action at law, suit in equity or judicial proceedings for the enforcement of this Agreement or any provision hereof shall be instituted only in the courts of the State of Florida or federal courts and venue for any such actions shall lie exclusively in a court of competent jurisdiction in the County. In addition to any other legal rights, the City and the Developer Parties shall each have the right to specific performance of this Agreement in court. Each party shall bear its own attorney's fees. Each party waives any defense, whether asserted by motion or pleading, that the aforementioned courts are an improper or inconvenient venue. Moreover, the parties consent to the personal jurisdiction of the aforementioned courts and irrevocably waive any objections to said jurisdiction. The parties irrevocably waive any rights to a jury trial. Section-' 6 Section 23. Voluntary Compliance. The Developer Parties and the City agree that in the event all or any part of this Agreement is struck down by judicial proceeding or preempted by legislative action, the Developer Parties and the City shall continue to honor the terms and conditions of this Agreement to the extent allowed by law. (c) {M2727171;7} 11 Seetien47Section 24. No Oral Change or Tennination. This Agreement and the exhibits and appendices appended hereto and incorporated herein by reference, if any, constitute the entire Agreement between the parties with respect to the subject matter hereof. This Agreement supersedes any prior agreements or understandings between the parties with respect to the subject matter hereof, and no change, modification or discharge hereof in whole or in part shall be effective unless such change, modification or discharge is in writing and signed by the party against whom enforcement of the change, modification or discharge is sought. This Agreement cannot be changed or terminated orally. Seetiou-4-8:Section 25. Compliance with Applicable Law. (a) Subject to the terms and conditions of this Agreement, throughout the Term of this Agreement, the Developer Parties and City shall comply with all applicable federal, state or local laws, rules, regulations, codes, ordinances, resolutions, administrative orders, permits, policies and procedures and orders that govern or relate to the respective Parties' obligations and performance under this Agreement, all as they may be amended from time to time. Sec-Lion-49:Section 26. Representations; Representatives. Each party represents to the others that this Agreement has been duly authorized, delivered and executed by such party and constitutes the legal, valid and binding obligation of such party, enforceable in accordance with its terms. Section 20.Section 27. No Exclusive Remedies. No remedy or election given by any provision in this Agreement shall be deemed exclusive unless expressly so indicated. Wherever possible, the remedies granted hereunder upon a default of the other party shall be cumulative and in addition to all other remedies at law or equity arising from such event of default, except where otherwise expressly provided. Section 21.Section 28. Failure to Exercise Rights not a Waiver: Waiver Provisions. The failure by either party to promptly exercise any right arising hereunder shall not constitute a waiver of such right unless otherwise expressly provided herein. No waiver or breach of any provision of this Agreement shall constitute a waiver of any subsequent breach of the same or any other provision hereof, and no waiver shall be effective unless made in writing. Saectinn Section 29. Events of Default. (a)(a) A Developer Party shall be in default under this Agreement if any of the following events occur and continue beyond the applicable grace period: a Developer Party fails to perform or breaches any term, covenant, or condition of this Agreement which is not cured within thirty (30) days after receipt of written notice from the City specifying the nature of such breach; provided, however, that if such breach cannot reasonably be cured within thirty (30) days, then a Developer Party shall not be in default if it commences to cure such breach within said thirty (30) day period and diligently prosecutes such cure to completion. (b)(b) The City shall be in default under this Agreement if the City fails to perform or breaches any term, covenant, or condition of this Agreement and such failure is {M2727171;7} 12 (c) not cured within thirty (30) days after receipt of written notice from a Developer Party specifying the nature of such breach; provided, however, that if such breach cannot reasonably be cured within thirty (30) days, the City shall not be in default if it commences to cure such breach within said thirty (30) day period and diligently prosecutes such cure to completion. It shall not be a default under this Agreement if either party is declared bankrupt by a court of competent jurisdiction. All rights and obligations in this Agreement shall survive such bankruptcy of either party. The parties hereby forfeit any right to terminate this Agreement upon the bankruptcy of the other party. (d) The default of any Developer Party or successor or assignee of any portion of a Developer Party's rights hereunder shall not be deemed a breach by any other Developer Party or any other successor or assignee of any portion of the rights of a Developer Party hereunder or any other successor or assignee. Mien-3-.Section 30. Remedies Upon Default. (a) Neither party may terminate this Agreement upon the default of the other party, but shall have all of the remedies enumerated herein. (b) Upon the occurrence of a default by a party to this Agreement not cured within the applicable grace period, the Developer Parties and the City agree that any party may seek specific perfoitilance of this Agreement, and that seeking specific performance shall not waive any right of such party to also seek monetary damages or any other relief other than termination of this Agreement. The City hereby acknowledges that any claim for damages under this Agreement is not limited by sovereign immunity or similar limitation of liability. In addition to any other remedies available to the City hereunder, in the event of default by any Developer Party or any successor or assignee, the City may withhold any permit or other approval, but only for the party in breach. Seetion-34rSection 31. Severability. If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, hereafter be determined to be invalid or unenforceable, the remainder of this Agreement or the application of such tern or provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby and shall continue in full force and effect. Section--25:Section 32. Assignment and Transfer. This Agreement shall be binding on the Developer Parties and their heirs, successors and assigns, including the successor to or assignee of any Property Interest. A Developer Party, at its sole discretion, may assign, in whole or in part, this Agreement or any of its rights and obligations hereunder, or may extend the benefits of this Agreement, to any holder of a Property Interest without the prior written consent or any other approval of the City. In addition, additional parties that are affiliates or assignees of the Developer Parties may be added to this Agreement if the party added holds a Property Interest in or adjacent to the Miami WorldCenter District and executes a joinder form in the fore attached as Exhibit "F", and records such joinder faun in the public records of Miami -Dade County. Such {M2727171;7} 13 party shall be a Developer Party, and such joinder form shall be acknowledged by the City Manager or his or her designee. Any such assignee or additional party shall assume all applicable rights and obligations under this Agreement. tion-.TSecdon 33. Obligations Surviving Termination Hereof. Notwithstanding and prevailing over any contrary term or provision contained herein, in the event of any lawful termination of this Agreement, the following obligations shall survive such teinrination and continue in full force and effect until the expiration of a one year term following the earlier of the effective date of such termination or the expiration of the Term: (i) the exclusive venue and choice of law provisions contained herein; (ii) rights of any party arising during or attributable to the period prior to expiration or earlier termination of this Agreement, and (iii) any other term or provision herein which expressly indicates either that it survives the termination or expiration hereof or is or may be applicable or effective beyond the expiration or permitted early termination hereof. Seetion-2-Section 34. Lack of Agency Relationship. Nothing contained herein shall be construed as establishing an agency relationship between the City and any Developer Party and neither any Developer Party nor its employees, agents, contractors, subsidiaries, divisions, affiliates or guests shall be deemed agents, instrumentalities, employees, or contractors of the City for any purpose hereunder, and the City, its contractors, agents, and employees shall not be deemed contractors, agents, or employees of any Developer Party or its subsidiaries, divisions or affiliates. Section 28-Section 35. Cooperation; Expedited Permitting and Time is of the Essence. (a) The parties agree to cooperate with each other to the full extent practicable pursuant to the terms and conditions of this Agreement. The parties agree that time is of the essence in all aspects of their respective and mutual responsibilities pursuant to this Agreement. The City shall use its best efforts to expedite to the extent reasonably practical the permitting and approval process in an effort to assist any Developer Party in achieving its demolition, development and construction milestones. The City will accommodate requests from a Developer Party's general contractor and subcontractors for review of multiple permitting packages, such as those for site work and foundations, and building shell, core and interiors. In addition, the City will designate an individual within the City Manager's office who will have a primary (though not exclusive) duty to serve as the City's point of contact and liaison with the Developer Parties in order to facilitate expediting the processing and issuance of all permit and license applications and approvals across all of the various departments and offices of the City which have the authority or right to review and approve all applications for permits and licenses. (b) Notwithstanding the foregoing, the City shall not be obligated to issue development permits to the extent a Developer Party does not comply with the applicable requirements of the Existing Zoning, the Comprehensive Plan, this Agreement and applicable building codes. {M2727171;7} 14 Seetien Section 36. Enforcement. (a) In the event that a Developer Party, its successors and/or assigns fails to act in accordance with the terms of the Existing Zoning, the City shall seek enforcement of said violation upon the subject Property. (b) Enforcement of this Agreement shall be by action against any parties or person violating, or attempting to violate, any covenants set forth in this Agreement. The prevailing party in any action or suit pertaining to or arising out of this Agreement shall be entitled to recover, in addition to costs and disbursements allowed by law, such sum as the Court may adjudge to be reasonable for the services of this/her/its attorney. (c) This enforcement provision shall be in addition to any other remedies available at law, in equity or both. Section 37. Amendment or Termination by Mutual Consent. This Agreement may not be amended or terminated during its term except by mutual agreement of the Developer Parties and the City. Prior to amending or terminating this Agreement during its term, the City shall hold two public hearings. Section 38. Third Party Defense. City and Developer Parties shall, at their own cost and expense, vigorously defend any claims, suits or demands brought against it by third parties threatening the Agreement, challenging its enforceability, or objecting to any aspect thereof, including, without limitation, any claims for loss, damage, liability, or expense (including reasonable attorneys' fees). City and Developer Parties shall promptly give the other written notice of any such action, including those that are pending or threatened, and all responses, filings, and pleadings with respect thereto. Section 39. No Conflict of Interest. The Developer Parties agree to comply with Section 2- 612 of the City Code as of the Effective Date, with respect to conflicts of interest. Section 40. No Third -Party Beneficiary. No persons or entities other than the Developer Parties and the City, their heirs, permitted successors and assigns, and any party that has executed a copy of the attached Joinder Form, shall have any rights whatsoever under this Agreement. Section 41. Counterparts. This Agreement may be executed in three or more counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute one and the same agreement. NOW, WHEREOF, the City and the Developer Parties have caused this Agreement to be duly executed. [Signature blocks for City and all Developer Parties] {M2727171;7 } 15 MIAMI WORLDCENTER GROUP, LLC., a Florida limited liability company BY: Name: Title: MR 44F LLC, a Florida limited liability company BY: Name: Title: PARK WEST 3 LLC, a Florida limited liability company BY: Name: Title: 915 N MIAMI LLC, a Florida limited liability company BY: Name: Title: MIAMI AUCTION PROP LLC, a Florida limited liability company BY: Name: Title: PARK WEST 5 LLC, a Florida limited liability company BY: Name: Title: 701 N MIAMI LLC, a Florida limited liability company BY: {M2727171;7} 16 Name: Title: {M2727171;7} 17 46 NE l OTH LLC, a Florida limited liability company BY: Name: Title: 13 PARCELS LLC, a Florida limited liability company BY: Name: Title: 700 NE 1ST LLC, a Florida limited liability company BY: Name: Title: 44 NW 11TH LLC, a Florida limited liability company BY: Name: Title: 100 NE 11TH LLC, a Florida limited liability company BY: Name: Title: MIAMI 941 PROPERTY LLC, a Florida limited liability company BY: Name: Title: {M2727171;7 } 18 701 NE 1ST LLC, a Florida limited liability company BY: Name: Title: 950 NE 2ND LLC a Florida limited liability company BY: Name: Title: 717 NE 1ST LLC, a Florida limited liability company BY: Name: Title: {M2727171;7} 19 Exhibit "A" Legal Descriptions of the Property {M2727171;7} 20 Exhibit "B" Legal Descriptions of the Property Not -Included {M2727171;7} 21 Exhibit "C" Conceptual Site Plan {M2727171;7} 22 Exhibit "D" SD-16.3 Zoning District Regulations {M2727171;7} 23 Exhibit "E" Regulating Plan {M2727171;7 } 24 Exhibit "F" ASSIGNEE OR ADDITIONAL PARTY TO DEVELOPMENT AGREEMENT JOINDER FORM AND ACKNOWLEDGEMENT OF JOINDER This ASSIGNEE OR ADDITIONAL PARTY TO DEVELOPMENT AGREEMENT JOINDER FORM ("Joinder Fottil") is executed of this day of , 20 by the undersigned entity. RECITALS Whereas the City has entered into a Development Agreement dated 20 and recorded in the public records of Miami -Dade County, Book , Page ("Development Agreement") with certain Developer Parties as defined therein. Whereas the Development Agreement secures certain benefits and obligations for the mutual benefit of the City and the Developer Parties, as set forth in the Development Agreement. Whereas the Development Agreement allows joinder of additional property when a Developer Party acquires fee simple title to any Property Not -Included within the Miami WorldCenter District (as those teitus are defined in the Development Agreement). Whereas the Development Agreement requires that such additional party execute this joinder form in order to become a party to the Development Agreement. Whereas the undersigned desires to enjoy the benefits conferred upon the Developer Parties under the Development Agreement, and in consideration for such benefits agrees to be bound by the obligations imposed therein upon the Developer Parties. Whereas the undersigned owns property or a Property Interest in the Miami WorldCenter District, more particularly described in Exhibit " " attached hereto. Now therefore, in consideration of the benefits conferred upon any Developer Party by the aforementioned Development Agreement, and certifying that the above recitals are true and correct, and incorporating such recitals herein, the undersigned does hereby execute this Joinder Foim and become a Developer Party to the Development Agreement. The undersigned shall assume all of the benefits, and be bound, comply with, and perform all of the obligations, as set forth in the Development Agreement and as applicable to the property or Property Interest which the undersigned owns. The undersigned shall be obligated to the City for the benefit of the City, and the City shall have all rights and remedies set forth in the Development Agreement to enforce the terms of the Development Agreement against the undersigned, to the extent applicable to the property or Property Interest owned by the undersigned. {M2727171;7} 25 The undersigned also hereby represents that it has full power and authority to execute this Joinder Foim, and certifies to City that none of its owners or officers, nor any immediate family member of any of such owners or officers, is also a member of any board, commission, or agency of the City. [Signature block] The City hereby acknowledges and consents to the joinder of the above signatory as a Developer Party to the Development Agreement. [Signature of City Manager] {M2727171;7) 26 Third District Court of Appeal Case Docket Page 1 of 2 Coarts Opinions New Query Florida Third District Court of Appeal Docket He p Case Docket Case Number: 3D07-465 Civil Certiorari Petition from Dade County CESAR HERNANDEZ-CANTON, ET AL., vs. MIAMI CITY COMMISSION, ETC., ET AL., Lower Tribunal Case(s): 06-291 AP, 03-415 List of Abbreviations, Printer Friendly View Date Docketed Description Date Due Filed By Notes 02/26/2007 Petition Filed Michael A. Sastre 0070335 02/26/2007 1 Appendix Michael A. Sastre 0070335 03/01/2007 • Appellant to Submit Correct $$ Filing Fee (OR141.) 03/11/2007 03/07/20(17 Case Filing Fee 03/13/2007 Notice of Appearance • 03/15/2007 Order Resp. on all Petitions except Prohibi(OR12L) 04/04/2007 04/04/2007 RESPONSE and appendix 04/06/2007 Notice Rafael Suarez -Rivas notice of adoption 04/11/2007 Motion for Extension of Time Michael A. Sastre 0070335 04/27/2007 Request for Oral Argument AA :Michael A. Sastre 007(1335 04/27/2007 REPLY' Michael. A. Sastre 0070335 04/30/2007 Ext-granted to reply to response on pet. (0C101D) 05/10/2007 Petitioners' motionfor extension of time :to file a reply •to the response to the petition for writ of certiorari is granted, and petitioners' reply to Kubik, LLC's response filed on April 27, 2007 is accepted by this Court. PetitionerS' motion for extension of time to file a reply to the response to the petition for writ of certiorari is granted to and including May 10, 2007. 05/16/2007 ORAL ARGUMENT AA Michael A. Sastre 0070335 http://199.242.69.70/p1s/ds/ds_docket 1/14/2009 Third District Court of Appeal Case Docket Page 2 of 2 RECEIPT 05/21/2007 Notice of Oral Argument Elliot H. Scherker 202304 07/11/2007 . Notice of Supplemental Authority Michael A. Sastre 0070335 . , ...._ 07/17/2007 Notice of Supplemental Authority Michael A. Sastre 0070335 08/20/2007 Oral Argument Date Set 3rd DCA 10/1.7/2007 Granted - Authored Opinion and remanded. 10/30/2007 Motion For Rehearing Elliot H. Scherker 202304 10/30/2007 Motion .For Rehearing EN BANC Elliot H. Seherker 202304 11/02/2007 Notice notice of adoption of motion for rehearing, enbanc 11/14/2007 RESPONSE 01/02/2008 West Publishing 01/02/2008 Rehearing & Rehearing en bane denied (0D57A) 01/18/2008 Mandate List of Abbreviations Printer Friendly View http://199.242.69.70/p1s/ds/ds_docket 1/14/2009 IN THE DISTRICT COURT OF APPEAL OF FLORIDA THIRD DISTRICT JULY TERM, A.D. 2008 JANUARY 2, 2008 CESAR HERNANDEZ-CANTON, ET AL., Appellant(s)/Petitioner(s), vs. MIAMI CITY COMMISSION, ETC.,. ET AL., Appellee(s)/Respondent(s). CASE NO.: 3D07-465 LOWER TRIBUNAL NO. 03-415 06-291 AP Upon consideration, respondents Kubik, LLC and Biscayne Premier Investments, Inc.'s motion for rehearing is hereby denied. COPE, RAMIREZ and SALTER, JJ., concur. Respondents Kubik, LLC and Biscayne Premier Investments, Inc.'s motion for rehearing en banc is hereby denied. cc: Michael A. Sastre Rafael Suarez -Rivas Elliot H. Scherker Hon. Ivan F. Fernandez Hon. J. Douglas Chumbley M. Catherine Hite Hon. Jeffrey Rosinek la MANDATE DISTRICT COURT OF APPEAL OF FLORIDA THIRD DISTRICT DCA # 3D07-465 CESAR HERNANDEZ-CANTON, ET AL., vs. MIAMI CITY COMMISSION, ETC., ET AL., This cause having been brought to this Court by appeal, and after due consideration the Court having issued its opinion; YOU ARE HEREBY COMMANDED that such further proceedings be had in said cause in accordance with the opinion of this Court attached hereto and incorporated as part of this order, and with the rules of procedure and laws of the State of Florida. Case No. 06-291 AP WITNESS, The Honorable DAVID M. GERSTEN, Chief Judge of said District Court and seal of said Court at Miami, this day January 18, 2008. CC W/O OPINION: Michael A. Sastre;'Blliot H. Scherker and Lucia Dougherty and Brigid F. Cech Samole; Jorge L. Fernandez and Rafael Suarez -Rivas la DEVELOPMENT AGREEMENT BETWEEN CITY OF MIAMI, FLORIDA AND MIAMI WORLDCENTER GROUP, LLC REGARDING DEVELOPMENT OF THE MIAMI WORLD CENTER PROJECT THIS AGREEMENT is entered this day of November, 2008, by and between MIAMI WORLDCENTER GROUP, LLC., a Florida limited liability company ("MWC") and its undersigned affiliates (collectively the "Developer Parties"), and the CITY OF MIAMI, FLORIDA, a municipal corporation and a political subdivision of the State of Florida ("City"). WITNESSETH: WHEREAS, the City wishes to encourage redevelopment of the property bounded by NE 2nd Avenue on the east, North Miami Avenue on the west, NE 11th Street on the north, and NE 6th Street on the south ("Miami WorldCenter District"); WHEREAS, on November 13, 2008 the City Commission approved the rezoning of the Miami WorldCenter District from SD-16.1 to SD-16.3; WHEREAS, Developer Parties hold the fee simple title to certain real property situated in the Miami WorldCenter District (the "Property" and collectively, as the "Properties"; legal descriptions of which are attached as Exhibit "A"). The Property only includes land held in fee simple by the Developer Parties; WHEREAS, Developer Parties may acquire fee simple title to certain other real property situated in the Miami WorldCenter District (the "Property Not -Included", legal descriptions of which are attached as Exhibit "B"). The Property Not -Included is land that is not held in fee simple by any of the Developer Parties; WHEREAS, the Developer Parties contemplate constructing within the Miami WorldCenter District a large, high -density, mixed -use development consisting of multiple buildings, public open space, enhanced pedestrian areas and access to mass transit, commonly referred to as the Miami World Center ("Project"); WHEREAS, the Developer Parties contemplate that the Project will have a site plan, including open spaces and building layout, substantially in accordance with the Conceptual Site Plan attached as Exhibit "C" ("Conceptual Site Plan"); WHEREAS, the Developer Parties and the City acknowledge that the Conceptual Site Plan and each of its elements may only be achieved if the Developer Parties own sufficient property to make each of the open spaces and buildings both physically and financially feasible; WHEREAS, the lack of certainty in the approval of development can result in a waste of economic and land resources, discourage sound capital improvement planning and financing, escalate the cost of housing and development, and discourage commitment to comprehensive planning; {M2727171;7} 1 WHEREAS, assurance to a developer that it may proceed in accordance with existing laws and policies, subject to the conditions of a development agreement, strengthens the public planning process, encourages sound capital improvement planning and financing, assists in assuring there are adequate capital facilities for the development, encourages private participation in comprehensive planning, and reduces the economic costs of development; WHEREAS, the Property in the Miami WorldCenter District is designated Restricted Commercial in the Comprehensive Plan, and zoned as SD-16.3 in the Existing Zoning; WHEREAS, the Property outside the Miami WorldCenter District are zoned various other designations according to the Existing Zoning; WHEREAS, the Developer Parties and the City mutually desire that the Properties be developed as permitted in the Existing Zoning, the Comprehensive Plan and this Agreement; WHEREAS, the City Commission pursuant to Resolution No. , adopted November 13, 2008 has authorized the City Manager to execute this Agreement upon the teiius and conditions as set forth below, and the Managing Members or Boards of Directors of the Developer Parties or their parent or controlling entities have authorized the Developer Parties to execute this Agreement upon the terms and conditions set forth below; WHEREAS, the Project is located in the Southeast Overtown Park West Development of Regional Impact ("SEOPW DRI") and the Southeast Overtown Park West Community Redevelopment Area ("CRA"); WHEREAS, as of the Effective Date the SEOPW DRI has insufficient development capacity to accommodate the Project; and WHEREAS, to facilitate the Project, the CRA plan and the SEOPW DRI may need to be amended, subject to any required legal procedures and approvals; NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained, the parties mutually agree and bind themselves as set forth herein: Section 1. The parties hereby agree that the consideration and obligations recited and provided for under this Agreement constitute substantial benefits to both parties and thus adequate consideration for this Agreement. This covenant shall be binding upon, and inure to, the benefit of the parties, their successors, assigns, heirs, legal representatives, and personal representatives. Section 2. Rules of Legal Construction. For all purposes of the Agreement, unless otherwise expressly provided: (a) A defined term has the meaning assigned to it; (b) Words in the singular include the plural, and words in plural include the singular; {M2727171;7} 2 (c) A pronoun in one gender includes and applies to other genders as well; (d) The terms "hereunder", "herein", "hereof, "hereto" and such similar terms shall refer to the instant Agreement in its entirety and not to individual sections or articles; (e) (f) The Parties hereto agree that this Agreement shall not be more strictly construed against either the City or any Developer Party as all parties are drafters of this Agreement; and The recitals are true and correct and are incorporated into and made a part of this Agreement. The attached exhibits shall be deemed adopted and incorporated into the Agreement; provided however, that this Agreement shall be deemed to control in the event of a conflict between the attachments and this Agreement. Section 3. Definitions. "Agreement" means this Agreement between the City and Developer Parties. "City" means the City of Miami, a municipal corporation and a political subdivision of the State of Florida, and all departments, agencies and instrumentalities subject to the jurisdiction thereof. "Comprehensive Plan" means the comprehensive plan adopted by the City pursuant to Chapter 163, Florida Statutes (2008), meeting the requirements of Section 163.3177, Florida Statutes (2008), Section 163.3178, Florida Statutes (2008) and Section 163.3221(2), Florida Statutes (2008), which is in effect as of the Effective Date. "County" means Miami -Dade County, a political subdivision of the State of Florida. "Development" means the carrying out of any building activity, the making of any material change in the use or appearance of any structure or land, or the dividing of land into three or more parcels and such other activities described in Section 163.3221(4), Florida Statutes (2008). "Effective Date" is the latter of the dates of recordation of this instrument or thirty days after this instrument has been received by the state land planning agency pursuant to Section 163.3239, Florida Statutes (2008). "Existing Zoning" is (a) the City of Miami Ordinance No 11000, adopted March 8, 1990, and amended through the Effective Date, specifically including the SD 16.3 zoning district regulations and subject to an escalating Affordable Housing Trust Fund contribution to be determined at the time of building permit, and (b) the provisions of the Charter and City Code of Miami ("Code") which regulate development, specifically including Chapters 10, 13, 22, 23, 36, 54, 55 and 62 of the Code as amended through the Effective Date, which together comprise the effective land development regulations governing development of the Property as of the Effective Date. {M2727171;7} 3 "Land" means the earth, water, and air, above, below, or on the surface and includes any improvements or structures customarily regarded as land. "Laws" means all ordinances, resolutions, regulations, comprehensive plans, land development regulations, and rules adopted by a local government affecting the development of land. "Property Interest" means any interest or rights in real property or appurtenances of the Properties, including but not limited to, fee simple, leasehold, condominium, transferable development right or air rights, and licenses, however acquired, including any interests or rights in real property acquired through foreclosure, deed in lieu of foreclosure or any other realization of a security interest in real property. Without limiting the foregoing, a Community Development District and/or a master property owners' association with appropriate authority relating to one or more of the Properties shall be deemed to hold a Property Interest. "Public Facilities" means major capital improvements, including, but not limited to, transportation, sanitary sewer, solid waste, drainage, potable water, educational, parks and recreational, streets, parking and health systems and facilities. Section 4. Purpose. The purpose of this Development Agreement is to establish certain conditions which will result in the Developer Parties providing Open Spaces to the City, and to freeze, as of the Effective Date, the land development regulations which will govern development of the Project. This Agreement will provide both parties with additional certainty during the development process. Saab .Section 5. Intent. The Developer Parties and the City intend for this Agreement to be construed and implemented so as to effectuate the purpose of this Development Agreement and the purpose and intent of the Florida Local Government Development Agreement Act, Section 163.3220 - 163.3243, Florida Statutes (2008). Section 6. Applicability. This Agreement applies only to the Properties located in the Miami WorldCenter District. Additional property may be subsequently incorporated into this agreement and bound by the rights and obligations established hereunder, only if such additional property is acquired by a Developer Party and is incorporated pursuant to the joinder provisions of Section 20. Seetkn -5 Section 7. Term and Effective Date. This Agreement shall have a term of twenty (20) years from the Effective Date and shall be recorded in the public records of Miami -Dade County and filed with the City Clerk. The term of this Agreement may be extended upon execution of a written instrument approved by the Developer Parties and the City Commission or any other legally required authority. This Agreement shall become effective on the Effective Date and shall constitute a covenant running with the land Seetion-6-Section 8. Permitted Development Uses and Building Intensities. (a) SD-16.3 Zoning District Designation. The City has designated the area bounded by NE 2" a Avenue on the east, North Miami Avenue on the west, NE 11th Street on the north, and NE 6th Street on the south as SD-16.3 on the official zoning {M2727171;7 } 4 Atlas of the City, pursuant to the applicable procedures in the Existing Zoning. The SD-16.3 zoning district regulations are attached as Exhibit "D". In approving the SD 16.3 zoning district designation, the City has determined that the uses, intensities and densities of development permitted thereunder are consistent with the Comprehensive Plan and the Existing Zoning. (b) Density, Intensity, Uses and Building Heights. (1) As of the Effective Date and pursuant to the Existing Zoning, the density permitted on the Property is approximately 300 units per acre, and the intensity permitted on the Property is measured by a base floor area ratio of approximately 4.32, plus any applicable bonuses provided in the Existing Zoning. (2) The non-residential development permitted on the Property includes, but is not limited to, the following uses: office, hotel, retail, convention space, academic space and any other uses permitted by the Existing Zoning. (3) The height for any development on the Properties shall be regulated by the Existing Zoning and the Comprehensive Plan. (4) Nothing herein shall prohibit an increase in the density or intensity of development permitted on the Properties in a manner consistent with (a) the Existing Zoning and/or the Comprehensive Plan, (b) any zoning change subsequently requested or initiated by any Developer Party in accordance with applicable provisions of law or (c) any change to the zoning district regulations, the zoning atlas or the land development regulations subsequently enacted by the City. Section 9. Public Facilities. As of the Effective Date, the Developer Parties are conducting an extensive analysis of the Public Facilities available to serve the Project. In the event that the Existing Zoning and/or the Comprehensive Plan require the Developer Parties to provide additional Public Facilities to accommodate the Project, the Developer Parties will provide such Public Facilities consistent with the timing requirements of Section 163.3180(2)(a), (b) and (c), Florida Statutes (2008), or as otherwise required by a DRI development order and Chapter 13 of the City Code, as amended from time to time, if applicable. Section 10. Project Approval. (a) Further Development Review. The Existing Zoning, the Comprehensive Plan and this Agreement establish the criteria upon which the Properties shall be developed during the term of this Agreement. (b) Prohibition on Downzoning. (1) The Existing Zoning, the Comprehensive Plan and this Agreement shall govern development of the Properties for the duration of the Agreement. City's laws and policies adopted after the Effective Date may be applied to {M2727171;7} 5 the Properties only if the determinations required by Section 163.3233(2), Florida Statutes (2008) have been made after 30 days written notice to the Developer Parties and at a public hearing. (2) Pursuant to Section 163.3233(3), Florida Statutes (2008), this prohibition on downzoning supplements, rather than supplants, any rights that may vest to the Developer Parties under Florida or Federal law. As a result, the Developer Parties may challenge any subsequently adopted changes based on (a) common law principles including, but not limited to, equitable estoppel and vested rights, or (b) statutory rights which may accrue by virtue of Chapter 70, Florida Statutes (2008). (c) Development of Regional Itnpact. (1) City acknowledges that the development entitlements remaining in the SEOPW DRI are not sufficient to accommodate the Project. City further acknowledges that the development entitlements currently remaining in the SEOPW DRI are not sufficient to allow build -out of properties within the boundaries of the SEOPW DRI, as permitted under the Existing Zoning and the Comprehensive Plan. (2) Subject to required legal processes and approvals, the City and the Developer Parties shall cooperate, and the City shall expeditiously consider (a) the application to approve Increment III to the SEOPW DRI and (b) amendment of the SEOPW DRI to accommodate the Project, as well as additional development within the boundaries of the SEOPW DRI. (3) If applicable, the City also agrees (a) to expeditiously consider the Developer Parties' application for a new Development of Regional Impact for the Project or (b) to support other applications or legislation that either (i) increases the allowable thresholds for development so that the Project is not required to be reviewed under Section 380.06, Florida Statutes (2008), or (ii) exempts the Project from review under Section 380.06, Florida Statutes (2008). (4) City agrees that any DRI development order which the City adopts after the Effective Date and which applies to the Properties, will include a Use/Intensity conversion table to allow for a reasonable level of flexibility with respect to the mix and intensity of uses in order to respond to changing market conditions. (5) In the event Project is not exempt from DRI review and is developed pursuant to a DRI development order, Developer Parties agree to pay their proportionate share of the costs of mitigating the off -site impacts to regional infrastructure, as determined by the DRI development order or as required by Chapter 13 of the City Code, as amended from time to time. Section 11. Reservation or Dedication of Land. {M2727171;7} 6 (a) Except as otherwise provided in this Agreement and pursuant to applicable subdivision regulations, the Developer Parties shall not be required to dedicate or reserve any land within the Properties for municipal purposes, (b) The Developer Parties agree to create within the Project (1) one public open space of at least 20,000 square feet, (2) one public open space of at least 14,000 square feet, (collectively the "Open Spaces") and (3) wide sidewalks designed to accommodate increased pedestrian activity that will include shopping, entertainment and outdoor seating, as generally labeled on the Regulating Plan attached as Exhibit "E". (c) The Developer Parties will retain ownership of the Open Spaces but hereby agree to grant the City a non-exclusive easement which will allow public access to the Open Spaces (the "Open Space Easement"). The Developer Parties and the City also agree to execute a maintenance, operation and liability agreement (the "Open Space Agreement") to assign certain responsibilities and obligations regarding the Open Spaces. (d) The City and Developer Parties agree to execute and record the Open Space Easement and the Open Space Agreement prior to the City issuing a building permit for more than 4 million square feet of development on the Property. The general location and dimensions of the Open Spaces shall be substantially in accordance with the Regulating Plan, or as otherwise mutually agreed by the Developer Parties and the City. The specific location and dimensions of the Open Spaces will be determined in the Open Space Easement. (f) Developer Parties retain the exclusive right to design, landscape and program the Open Spaces. The conceptual design of the Open Spaces will reviewed by the City and included as part of the Open Space Agreement. (e) Section 12. Job Creation. Developer Parties shall consult with local and state economic development entities, such as Beacon Council, South Florida Workforce, Enterprise Florida, Florida International University School of Hospitality & Tourism Management, and Miami -Dade College in developing a plan for job training and job placement services to city residents seeking employment opportunities with potential employers which will locate or establish business within the Project. Seet-ion-:Section 13. Local Development Permits. (a) The development of the Properties in accordance with the Existing Zoning is contemplated by the Developer Parties. The Project may require additional permits or approvals from the City, County, State, or Federal government and any division thereof. Subject to required legal process and approvals, the City shall make a good faith effort to take all reasonable steps to cooperate with and facilitate all such approvals. Such approvals include, without limitation, the following approvals and permits and any successor or analogous approvals and permits: {M2727171;7} 7 (1) Class II Special Permit and other site plan approvals (including major use special permit, if applicable); (2) Subdivision plat and/or waiver of plat approvals; (3) Covenant or Unity of Title acceptance or the release of existing unities or covenants; (4) (5) (6) (7) (8) Building permits; Certificates of use and/or occupancy; Stoiiiiwater Permits; Development of Regional Impact approval, modification or exemption; and Any other official action of the City or other government agency having the effect of peiiiiitting development of the Properties. (b) In the event that the City substantially modifies its land development regulations regarding site plan approval procedures, authority to approve any site plan for a project on one of the Properties shall be vested solely in the City Manager, with the recommendation of the Planning Director. Any such site plan shall be approved if it meets the requirements and criteria of the Existing Zoning, the Comprehensive Plan and the terms of this Agreement. Section-ItSection14. Consistency with Comprehensive Plan. The City finds that development of the Properties in conformity with the Existing Zoning is consistent with the Comprehensive Plan, Seet-ien4bSection 15. Necessity of Complying with Local Regulations Relative to Development Permits. The Developer Parties and the City agree that the failure of this Agreement to address a particular permit, condition, fee, term, license, or restriction in effect on the Effective Date shall not relieve the Developer Parties of the necessity of complying with the regulation governing said peiriiitting requirements, conditions, fees, terms, licenses, or restrictions as long as compliance with said regulation and requirements does not require any Developer Party to develop a Property in a manner that is inconsistent with Existing Zoning, the Comprehensive Plan and/or the Agreement. Section-1- Section 16. Reservation of Development Rights. (a) For the term of this Agreement, the City hereby agrees that it shall permit the development of the Properties in accordance with the Existing Zoning, the Comprehensive Plan and the Agreement. (b) Nothing herein shall prohibit an increase in the density or intensity of development permitted on the Properties in a manner consistent with (a) the {M2727171;7} 8 Existing Zoning and/or the Comprehensive Plan, (b) any zoning change subsequently requested or initiated by any Developer Party in accordance with applicable provisions of law or (c) any zoning change subsequently enacted by the City. (c) The expiration or termination of this Agreement shall not be considered a waiver of, or limitation upon, the rights, including, but not limited to, any claims of vested rights or equitable estoppel, obtained or held by any Developer Party or its successors or assigns to continue development of the Property in conformity with Existing Zoning and all prior and subsequent development peiinits or development orders granted by the City. Section 17. Streetcar. Developer Parties acknowledge that the City is currently planning to construct a light rail transit system commonly referred to as the streetcar, which may traverse or abut the Miami WorldCenter District. Developer Parties agree to cooperate with the City so that any portion of the streetcar route which runs through, or adjacent to, the Miami WorldCenter District can be accommodated within the dedicated public rights -of -way. Section 18. Community Development District. (a) City shall support the creation of a community development district or other independent special district ("District") to assist in funding and constructing onsite and offsite infrastructure and to provide services required to support the Project, and Developer Parties may establish, or cause to be established, such District. (b) In the event that the City and County establish a District for the Project, the District may assume any responsibility of any Developer Party under this agreement. Section 19. Annual Review, (a) The City shall review the development that is subject to this Agreement every 12 months, commencing 12 months after the Effective Date. The City shall begin the review process by giving notice to the Developer Parties, a minimum of 30 days prior to the anniversary date of the Agreement, of its intention to undertake the annual review of this Agreement. (b) Any infotmation required of the Developer Parties during an annual review shall be limited to that necessary to determine the extent to which the Developer is proceeding in good faith to comply with the terms of this Agreement. For each annual review conducted during the years 6 through 10 of this Agreement, the City shall prepare a written report which will be submitted to the parties to this Agreement and the State land planning agency. (c) If the City finds on the basis of competent substantial evidence that there has been a failure to comply substantially with the teirns of the Agreement, the City may {M2727171;7 } 9 terminate or amend this Agreement after providing 30 days written notice to the Developer Parties and at a public hearing. Section 20. Notices. (a) All notices, demands and requests which may or are required to be given hereunder shall, except as otherwise expressly provided, be in writing and delivered by personal service or sent by telex, telecopy, telegram, United States Registered or Certified Mail, return receipt requested, postage prepaid, or by overnight express delivery, such as Federal Express, to the parties at the addresses and telecopy numbers listed below. Any notice given pursuant to this Agreement shall be deemed given when received. Any actions required to be taken hereunder which fall on Saturday, Sunday, or United States legal holidays shall be deemed to be performed timely when taken on the succeeding day thereafter which shall not be a Saturday, Sunday or legal holiday. To the City: City Manager City of Miami 3500 Pan American Drive Miami, FL 33133 With a copy to: City Attorney Miami Riverside Center 444 S.W. 2nd Ave., 9th Floor Miami, FL 33130 To the Developer Parties: Managing Member Miami WorldCenter LLC. 700 NE 2nd Avenue Miami, FL 33132 With copies to: Berger Singerinan Attn: Sam Poole 200 S Biscayne Blvd, Ste. 1000 Miami, FL 33131 With copies to: Akerman Senterfitt Attn: Neisen Kasdin 1 SE 3rd Avenue, 2501 Floor Miami, FL 33131 To the SEOPW CRA as courtesy notice: Executive Director {M2727171;7} 10 SEOPW CRA 49 NW 5th Street, Suite 100 Miami, Florida 33128 (b) Any Party to this Agreement may change its notification address(es) by providing written notification to the remaining parties pursuant to the terms and conditions of this section. Section 21. Joinder. (a) If a Developer Party acquires fee simple title to a Property Not -Included subsequent to the Effective Date, the Developer Party may incorporate that property into this Agreement, subjecting it to the rights and obligations established hereunder, provided that the Developer Party executes the Joinder Form and Acknowledgement of Joinder attached as Exhibit "F". Once executed, the Developer Party shall record the executed Joinder Form in the public records of Miami -Dade County and file same with the City Clerk. (b) The parties agree that any property which is incorporated into the Agreement through this Joinder provision shall be subject to the Existing Zoning, the Comprehensive Plan and the teens of this Agreement. In the event that the City does not afford any subsequently incorporated property with the protections of the Existing Zoning, the Comprehensive Plan and the terms of this Agreement, the City will be deemed to have breached this Agreement. (c) Nothing herein shall prohibit the Developer Parties from objecting to any policy which would not afford a subsequently incorporated property with the protections of the Existing Zoning, the Comprehensive Plan and the terms of this Agreement. S'eet-ienw4€hSeel ion. 22. Exclusive Venue, Choice of Law, Specific Performance. It is mutually understood and agreed by the parties hereto, that this Agreement shall be governed by the laws of the State of Florida, and any applicable federal law, both as to interpretation and performance, and that any action at law, suit in equity or judicial proceedings for the enforcement of this Agreement or any provision hereof shall be instituted only in the courts of the State of Florida or federal courts and venue for any such actions shall lie exclusively in a court of competent jurisdiction in the County. In addition to any other legal rights, the City and the Developer Parties shall each have the right to specific performance of this Agreement in court. Each party shall bear its own attorney's fees. Each party waives any defense, whether asserted by motion or pleading, that the aforementioned courts are an improper or inconvenient venue. Moreover, the parties consent to the personal jurisdiction of the aforementioned courts and irrevocably waive any objections to said jurisdiction. The parties irrevocably waive any rights to a jury trial. 8ee-1ien-1-€-.Section 23. Voluntary Compliance. The Developer Parties and the City agree that in the event all or any part of this Agreement is struck down by judicial proceeding or preempted by legislative action, the Developer Parties and the City shall continue to honor the teitus and conditions of this Agreement to the extent allowed by law. {M2727171;7} 11 Section 17.-Section 24. No Oral Change or Termination. This Agreement and the exhibits and appendices appended hereto and incorporated herein by reference, if any, constitute the entire Agreement between the parties with respect to the subject matter hereof. This Agreement supersedes any prior agreements or understandings between the parties with respect to the subject matter hereof, and no change, modification or discharge hereof in whole or in part shall be effective unless such change, modification or discharge is in writing and signed by the party against whom enforcement of the change, modification or discharge is sought. This Agreement cannot be changed or terminated orally. Section--1&Section 25. Compliance with Applicable Law. (a) Subject to the teitns and conditions of this Agreement, throughout the Term of this Agreement, the Developer Parties and City shall comply with all applicable federal, state or local laws, rules, regulations, codes, ordinances, resolutions, administrative orders, permits, policies and procedures and orders that govern or relate to the respective Parties' obligations and performance under this Agreement, all as they may be amended from time to time. Seetion-49-.Section 26. Representations; Representatives. Each party represents to the others that this Agreement has been duly authorized, delivered and executed by such party and constitutes the legal, valid and binding obligation of such party, enforceable in accordance with its terms. S ectIon4Q Section 27. No Exclusive Remedies. No remedy or election given by any provision in this Agreement shall be deemed exclusive unless expressly so indicated. Wherever possible, the remedies granted hereunder upon a default of the other party shall be cumulative and in addition to all other remedies at law or equity arising from such event of default, except where otherwise expressly provided. Section 21.Section 28. Failure to Exercise Rights not a Waiver: Waiver Provisions. The failure by either party to promptly exercise any right arising hereunder shall not constitute a waiver of such right unless otherwise expressly provided herein. No waiver or breach of any provision of this Agreement shall constitute a waiver of any subsequent breach of the same or any other provision hereof, and no waiver shall be effective unless made in writing. Se 4ift-2-2Section 29. Events of Default. fa (a) A Developer Party shall be in default under this Agreement if any of the following events occur and continue beyond the applicable grace period: a Developer Party fails to perfouii or breaches any teen, covenant, or condition of this Agreement which is not cured within thirty (30) days after receipt of written notice from the City specifying the nature of such breach; provided, however, that if such breach cannot reasonably be cured within thirty (30) days, then a Developer Party shall not be in default if it commences to cure such breach within said thirty (30) day period and diligently prosecutes such cure to completion. (b)(b) The City shall be in default under this Agreement if the City fails to perfoitii or breaches any term, covenant, or condition of this Agreement and such failure is {M2727171;7} 12 not cured within thirty (30) days after receipt of written notice from a Developer Party specifying the nature of such breach; provided, however, that if such breach cannot reasonably be cured within thirty (30) days, the City shall not be in default if it commences to cure such breach within said thirty (30) day period and diligently prosecutes such cure to completion. (c) It shall not be a default under this Agreement if either party is declared bankrupt by a court of competent jurisdiction. All rights and obligations in this Agreement shall survive such bankruptcy of either party. The parties hereby forfeit any right to terminate this Agreement upon the bankruptcy of the other party. (d) The default of any Developer Party or successor or assignee of any portion of a Developer Party's rights hereunder shall not be deemed a breach by any other Developer Party or any other successor or assignee of any portion of the rights of a Developer Party hereunder or any other successor or assignee. Sreetion-:Section 30. Remedies Upon Default. (a) Neither party may terminate this Agreement upon the default of the other party, but shall have all of the remedies enumerated herein. (b) Upon the occurrence of a default by a party to this Agreement not cured within the applicable grace period, the Developer Parties and the City agree that any party may seek specific performance of this Agreement, and that seeking specific performance shall not waive any right of such party to also seek monetary damages or any other relief other than termination of this Agreement. The City hereby acknowledges that any claim for damages under this Agreement is not limited by sovereign immunity or similar limitation of liability. In addition to any other remedies available to the City hereunder, in the event of default by any Developer Party or any successor or assignee, the City may withhold any permit or other approval, but only for the party in breach. S--tom. 4-Section 31. Severability. If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, hereafter be determined to be invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby and shall continue in full force and effect. Sgtiun- :Section 32. Assignment and Transfer. This Agreement shall be binding on the Developer Parties and their heirs, successors and assigns, including the successor to or assignee of any Property Interest. A Developer Party, at its sole discretion, may assign, in whole or in part, this Agreement or any of its rights and obligations hereunder, or may extend the benefits of this Agreement, to any holder of a Property Interest without the prior written consent or any other approval of the City. In addition, additional parties that are affiliates or assignees of the Developer Parties may be added to this Agreement if the party added holds a Property Interest in or adjacent to the Miami WorldCenter District and executes a joinder fouirl in the form attached as Exhibit "F", and records such joinder form in the public records of Miami -Dade County. Such {M2727171;7} 13 party shall be a Developer Party, and such joinder form shall be acknowledged by the City Manager or his or her designee. Any such assignee or additional party shall assume all applicable rights and obligations under this Agreement. Seeti 64Section 33. Obligations Surviving Termination Hereof. Notwithstanding and prevailing over any contrary tenii or provision contained herein, in the event of any lawful termination of this Agreement, the following obligations shall survive such termination and continue in full force and effect until the expiration of a one year term following the earlier of the effective date of such termination or the expiration of the Term: (i) the exclusive venue and choice of law provisions contained herein; (ii) rights of any party arising during or attributable to the period prior to expiration or earlier termination of this Agreement, and (iii) any other teiiii or provision herein which expressly indicates either that it survives the termination or expiration hereof or is or may be applicable or effective beyond the expiration or peiniitted early termination hereof. 8eetion--24Section 34. Lack of Agency Relationship. Nothing contained herein shall be construed as establishing an agency relationship between the City and any Developer Party and neither any Developer Party nor its employees, agents, contractors, subsidiaries, divisions, affiliates or guests shall be deemed agents, instrumentalities, employees, or contractors of the City for any purpose hereunder, and the City, its contractors, agents, and employees shall not be deemed contractors, agents, or employees of any Developer Party or its subsidiaries, divisions or affiliates. Sectickn Section 35. Cooperation; Expedited Permitting and Time is of the Essence. (a) The parties agree to cooperate with each other to the full extent practicable pursuant to the -Willis and conditions of this Agreement. The parties agree that time is of the essence in all aspects of their respective and mutual responsibilities pursuant to this Agreement. The City shall use its best efforts to expedite to the extent reasonably practical the permitting and approval process in an effort to assist any Developer Party in achieving its demolition, development and construction milestones. The City will accommodate requests from a Developer Party's general contractor and subcontractors for review of multiple permitting packages, such as those for site work and foundations, and building shell, core and interiors. In addition, the City will designate an individual within the City Manager's office who will have a primary (though not exclusive) duty to serve as the City's point of contact and liaison with the Developer Parties in order to facilitate expediting the processing and issuance of all peiiirit and license applications and approvals across all of the various departments and offices of the City which have the authority or right to review and approve all applications for permits and licenses. (b) Notwithstanding the foregoing, the City shall not be obligated to issue development permits to the extent a Developer Party does not comply with the applicable requirements of the Existing Zoning, the Comprehensive Plan, this Agreement and applicable building codes. {M2727171;7} 14 Se ion 2:9:Section 36. Enforcement. (a) In the event that a Developer Party, its successors and/or assigns fails to act in accordance with the terms of the Existing Zoning, the City shall seek enforcement of said violation upon the subject Property. (b) Enforcement of this Agreement shall be by action against any parties or person violating, or attempting to violate, any covenants set forth in this Agreement. The prevailing party in any action or suit pertaining to or arising out of this Agreement shall be entitled to recover, in addition to costs and disbursements allowed by law, such sum as the Court may adjudge to be reasonable for the services of this/her/its attorney. (c) This enforcement provision shall be in addition to any other remedies available at law, in equity or both. Section 37. Amendment or Teiiilination by Mutual Consent. This Agreement may not be amended or terminated during its term except by mutual agreement of the Developer Parties and the City. Prior to amending or terminating this Agreement during its term, the City shall hold two public hearings. Section 38. Third Party Defense. City and Developer Parties shall, at their own cost and expense, vigorously defend any claims, suits or demands brought against it by third parties threatening the Agreement, challenging its enforceability, or objecting to any aspect thereof, including, without limitation, any claims for loss, damage, liability, or expense (including reasonable attorneys' fees). City and Developer Parties shall promptly give the other written notice of any such action, including those that are pending or threatened, and all responses, filings, and pleadings with respect thereto. Section 39. No Conflict of Interest. The Developer Parties agree to comply with Section 2- 612 of the City Code as of the Effective Date, with respect to conflicts of interest. Section 40. No Third -Party Beneficiary. No persons or entities other than the Developer Parties and the City, their heirs, permitted successors and assigns, and any party that has executed a copy of the attached Joinder Form, shall have any rights whatsoever under this Agreement. Section 41. Counterparts. This Agreement may be executed in three or more counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute one and the same agreement. NOW, WHEREOF, the City and the Developer Parties have caused this Agreement to be duly executed. [Signature blocks for City and all Developer Parties] {M2727171;7} 15 MIAMI WORLDCENTER GROUP, LLC., a Florida limited liability company BY: Name: Title: MR 44F LLC, a Florida limited liability company BY: Name: Title: PARK WEST 3 LLC, a Florida limited liability company BY: Name: Title: 915 N MIAMI LLC, a Florida limited liability company BY: Name: Title: MIAMI AUCTION PROP LLC, a Florida limited liability company BY: Name: Title: PARK WEST 5 LLC, a Florida limited liability company BY: Name: Title: 701 N MIAMI LLC, a Florida limited liability company BY: {M2727171;7 } 16 Name: Title: {M2727171;7 } 17 46 NE LOTH LLC, a Florida limited liability company BY: Name: Title: 13 PARCELS LLC, a Florida limited liability company BY: Name: Title: 700 NE 1ST LLC, a Florida limited liability company BY: Name: Title: 44 NW 11TH LLC, a Florida limited liability company BY: Name: Title: 100 NE 11TH LLC, a Florida limited liability company BY: Name: Title: MIAMI 941 PROPERTY LLC, a Florida limited liability company BY: Name: Title: {M2727171;7} 18 701 NE 1ST LLC, a Florida limited liability company BY: Name: Title: 950 NE 2ND LLC a Florida limited liability company BY: Name: Title: 717 NE 1ST LLC, a Florida limited liability company BY: Name: Title: {M2727171;7 } 19 Exhibit "A" Legal Descriptions of the Property {M2727171;7} 20 Exhibit "B" Legal Descriptions of the Property Not -Included {M2727171;7) 21 Exhibit "C" Conceptual Site Plan {M2727171;7} 22 Exhibit "D" SD-16.3 Zoning District Regulations {M2727171;7} 23 Exhibit "E" Regulating Plan {M2727171;7} 24 Exhibit "F" ASSIGNEE OR ADDITIONAL PARTY TO DEVELOPMENT AGREEMENT JOINDER FORM AND ACKNOWLEDGEMENT OF JOINDER This ASSIGNEE OR ADDITIONAL PARTY TO DEVELOPMENT AGREEMENT JOINDER FORM ("Joinder Form") is executed of this day of , 20 by the undersigned entity. RECITALS Whereas the City has entered into a Development Agreement dated 20 and recorded in the public records of Miami -Dade County, Book , Page ("Development Agreement") with certain Developer Parties as defined therein. Whereas the Development Agreement secures certain benefits and obligations for the mutual benefit of the City and the Developer Parties, as set forth in the Development Agreement. Whereas the Development Agreement allows joinder of additional property when a Developer Party acquires fee simple title to any Property Not -Included within the Miami WorldCenter District (as those terms are defined in the Development Agreement). Whereas the Development Agreement requires that such additional party execute this joinder form in order to become a party to the Development Agreement. Whereas the undersigned desires to enjoy the benefits conferred upon the Developer Parties under the Development Agreement, and in consideration for such benefits agrees to be bound by the obligations imposed therein upon the Developer Parties. Whereas the undersigned owns property or a Property Interest in the Miami WorldCenter District, more particularly described in Exhibit " " attached hereto. Now therefore, in consideration of the benefits conferred upon any Developer Party by the aforementioned Development Agreement, and certifying that the above recitals are true and correct, and incorporating such recitals herein, the undersigned does hereby execute this Joinder Form and become a Developer Party to the Development Agreement. The undersigned shall assume all of the benefits, and be bound, comply with, and perform all of the obligations, as set forth in the Development Agreement and as applicable to the property or Property Interest which the undersigned owns. The undersigned shall be obligated to the City for the benefit of the City, and the City shall have all rights and remedies set forth in the Development Agreement to enforce the terms of the Development Agreement against the undersigned, to the extent applicable to the property or Property Interest owned by the undersigned. {M2727171;7} 25 The undersigned also hereby represents that it has full power and authority to execute this Joinder Form, and certifies to City that none of its owners or officers, nor any immediate family member of any of such owners or officers, is also a member of any board, commission, or agency of the City. [Signature block] The City hereby acknowledges and consents to the joinder of the above signatory as a Developer Party to the Development Agreement. [Signature of City Manager] {M2727171;7} 26 DEVELOPMENT AGREEMENT BETWEEN CITY OF MIAMI, FLORIDA AND MIAMI WORLDCENTER GROUP, LLC REGARDING DEVELOPMENT OF THE MIAMI WORLD CENTER PROJECT HIS AGREEMENT is entered this day of November, 2008, by and between MIAMI \. ORLDCENTER GROUP, LLC., a Florida limited liability company ("MWC") and its undersized affiliates (collectively the "Developer Parties"), and the CITY OF MIAMI, FLORIDA, a t unicipal corporation and a political subdivision of the State of Florida ("City"). WITNESSETH: WHEREAS, e City wishes to encourage redevelopment of the property bounded by NE 2nd Avenue on the st, North Miami Avenue on the west, NE 11t1i Street on the north, and NE 6th Street on the south "Miami WorldCenter District"); WHEREAS, on Nov='+ ber 13, 2008 the City Commission approved the rezoning of the Miami WorldCenter District fro 1 SD-16.1 to SD-16.3; WHEREAS, Developer Par es hold the fee simple title to certain real property situated in the Miami WorldCenter District (th "Property" and collectively, as the "Properties"; legal descriptions of which are attached as E ibit "A"). The Property only includes land held in fee simple by the Developer Parties; WHEREAS, Developer Parties may acquire fee simple title to certain other real property situated in the Miami WorldCenter District (the 'Property Not -Included", legal descriptions of which are attached as Exhibit "B"). The Proper Not -Included is land that is not held in fee simple by any of the Developer Parties; WHEREAS, the Developer Parties contem ate constructing within the Miami WorldCenter District a large, high -density, mixed -use development consisting of multiple buildings, public open space, enhanced pedestrian areas anaccess to mass transit, commonly referred to as the Miami World Center ("Project"); WHEREAS, the Developer Parties contemplate that the roject will have a site plan, including open spaces and building layout, substantially in accordano with the Conceptual Site Plan attached as Exhibit "C" ("Conceptual Site Plan"); WHEREAS, the Developer Parties and the City acknowledge that he Conceptual Site Plan and each of its elements may only be achieved if the Developer Part' - s own sufficient property to make each of the open spaces and buildings both physically and final ially feasible; WHEREAS, the lack of certainty in the approval of development can resu in a waste of economic and land resources, discourage sound capital improvement planning and nancing, escalate the cost of housing and development, and discourage commitment to compr- . ensive planning; {M2727171;7} 1 HEREAS, assurance to a developer that it may proceed in accordance with existing laws and olicies, subject to the conditions of a development agreement, strengthens the public planning p a cess, encourages sound capital improvement planning and financing, assists in assuring the are adequate capital facilities for the development, encourages private participation in • • mprehensive planning, and reduces the economic costs of development; WHEREA , the Property in the Miami WorldCenter District is designated Restricted Commercial in the Co ' prehensive Plan, and zoned as SD-16.3 in the Existing Zoning; WHEREAS, the roperty outside the Miami WorldCenter District are zoned various other designations accordin to the Existing Zoning; WHEREAS, the Deve per Parties and the City mutually desire that the Properties be developed as permitted in the Exi ting Zoning, the Comprehensive Plan and this Agreement; WHEREAS, the City Co ission pursuant to Resolution No. , adopted November 13, 2008 has authorized the City Manager to execute this Agreement upon the terms and conditions as set forth below, and he Managing Members or Boards of Directors of the Developer Parties or their parent or contra ling entities have authorized the Developer Parties to execute this Agreement upon the terms and • • nditions set forth below; WHEREAS, the Project is located in the Southeast Overtown Park West Development of Regional Impact ("SEOPW DRI") and the outheast Overtown Park West Community Redevelopment Area ("CRA"); WHEREAS, as of the Effective Date the SEOPW DRI has insufficient development capacity to accommodate the Project; and WHEREAS, to facilitate the Project, the CRA plan .nd the SEOPW DRI may need to be amended, subject to any required legal procedures and appro Is; NOW, THEREFORE, in consideration of the mu al covenants and agreements hereinafter contained, the parties mutually agree and bind themsel es as set forth herein: Section 1. The parties hereby agree that the consideration a ' d obligations recited and provided for under this Agreement constitute substantial benefits ,o both parties and thus adequate consideration for this Agreement. This covenant shall be bining upon, and inure to, the benefit of the parties, their successors, assigns, heirs, legal represe tatives, and personal representatives. Section 2. Rules of Legal Construction. For all purposes of the Agreement, unless otherwise expressly provided: (a) A defined term has the meaning assigned to it; (b) Words in the singular include the plural, and words in plural include the sinular•; (c) A pronoun in one gender includes and applies to other genders as well; {M2727171;7} 2 (d) The terms "hereunder", "herein", "hereof', "hereto" and such similar terms shall refer to the instant Agreement in its entirety and not to individual sections or articles; (e) (f) The Parties hereto agree that this Agreement shall not be more strictly construed a_,ainst either the City or any Developer Party as all parties are drafters of this Ag - ement; and The re•'tals are true and correct and are incorporated into and made a part of this Agreeme t. The attached exhibits shall be deemed adopted and incorporated into the Agree -nt; provided however, that this Agreement shall be deemed to control in the event a conflict between the attachments and this Agreement. Section 3. Definitions. "Agreement" means this reement between the City and Developer Parties. "City" means the City of Mia i. i, a municipal corporation and a political subdivision of the State of Florida, and all departments, .genies and instrumentalities subject to the jurisdiction thereof. "Comprehensive Plan" means the c prehensive plan adopted by the City pursuant to Chapter 163, Florida Statutes (2008), meetin the requirements of Section 163.3177, Florida Statutes (2008), Section 163.3178, Florida Sta tes (2008) and Section 163.3221(2), Florida Statutes (2008), which is in effect as of the Effecti Date. "County" means Miami -Dade County, a polite al subdivision of the State of Florida. "Development" means the carrying out of any building activity, the making of any material change in the use or appearance of any structure or land, or the dividing of land into three or more parcels and such other activities described in Section 163.3221(4), Florida Statutes (2008). "Effective Date" is the latter of the dates of recordation o this instrument or thirty days after this instrument has been received by the state land planning agency pursuant to Section 163.3239, Florida Statutes (2008). "Existing Zoning" is (a) the City of Miami Ordinance No 1 000, adopted March 8, 1990, and amended through the Effective Date, specifically including the D 16.3 zoning district regulations and subject to an escalating Affordable Housing Trust Fund contribution to be determined at the time of building permit, and (b) the provisions of the Charter and City Code of Miami ("Code") which regulate development, specifically including Chapters 0, 13, 22, 23, 36, 54, 55 and 62 of the Code as amended through the Effective Date, which toget er comprise the effective land development regulations governing development of the Prop y as of the Effective Date. "Land" means the earth, water, and air, above, below, or on the surface and inudes any improvements or structures customarily regarded as land. {M2727171;7} 3 "Laws" means all ordinances, resolutions, regulations, comprehensive plans, land development regulations, and rules adopted by a local government affecting the development of land. "Property Interest" means any interest or rights in real property or appurtenances of the Properties, including ut not limited to, fee simple, leasehold, condominium, transferable development right or air fights, and licenses, however acquired, including any interests or rights in real property acquired t ough foreclosure, deed in lieu of foreclosure or any other realization of a security interest in al property. Without limiting the foregoing, a Community Development District and/or \master property owners' association with appropriate authority relating to one or more of the Properties shall be deemed to hold a Property Interest. "Public Facilities" means i' ajor capital improvements, including, but not limited to, transportation, sanitary sewer, solid waste, drainage, potable water, educational, parks and recreational, streets, parking and health stems and facilities. Section 4. Purpose. The purpose of t is Development Agreement is to establish certain conditions which will result in the Developer ' arties providing Open Spaces to the City, and to freeze, as of the Effective Date, the landevelopment regulations which will govern development of the Project. This Agreement wi provide both parties with additional certainty during the development process. Section 5. Intent. The Developer Parties and th City intend for this Agreement to be construed and implemented so as to effectuate the purp s e of this Development Agreement and the purpose and intent of the Florida Local Government evelopment Agreement Act, Section 163.3220 - 163.3243, Florida Statutes (2008). Section 6. Applicability. This Agreement applies only to th- Properties located in the Miami WorldCenter District. Additional property may be subsequently i corporated into this agreement and bound by the rights and obligations established hereunder, onl if such additional property is acquired by a Developer Party and is incorporated pursuant to the j s'nder provisions of Section 20. Section 7. Term and Effective Date. This Agreement shall have a ter i of twenty (20) years from the Effective Date and shall be recorded in the public records of Mia i-Dade County and filed with the City Clerk. The term of this Agreement may be extended upon execution of a written instrument approved by the Developer Parties and the City Commis on or any other legally required authority. This Agreement shall become effective on the Ef : ctive Date and shall constitute a covenant running with the land Section 8. Permitted Development Uses and Building Intensities. (a) SD-16.3 Zoning District Designation. The City has designated the area : unded by NE 21th Avenue on the east, North Miami Avenue on the west, NE 1 treet on the north, and NE 6th Street on the south as SD-16.3 on the official zo ing Atlas of the City, pursuant to the applicable procedures in the Existing Zoni g. The SD-16.3 zoning district regulations are attached as Exhibit "D". In approvin the SD 16.3 zoning district designation, the City has determined that the uses, { M2727171;7} 4 (b) Section 9. intensities and densities of development permitted thereunder are consistent with the Comprehensive Plan and the Existing Zoning. Density, Intensity, Uses and Building Heights. 1) As of the Effective Date and pursuant to the Existing Zoning, the density permitted on the Property is approximately 300 units per acre, and the intensity permitted on the Property is measured by a base floor area ratio of approximately 4.32, plus any applicable bonuses provided in the isting Zoning. (2) The gin -residential development permitted on the Property includes, but is not li 'ted to, the following uses: residential, office, hotel, retail, convent]. . e space, academic space and any other uses permitted by the Existing Zo ing. The height for Existing Zoning y development on the Properties shall be regulated by the d the Comprehensive Plan. Nothing herein shal .rohibit an increase in the density or intensity of development permitte . on the Properties in a manner consistent with (a) the Existing Zoning an or the Comprehensive Plan, (b) any zoning change subsequently requ ted or initiated by any Developer Party in accordance with applicable o ovisions of law or (c) any change to the zoning district regulations, th zoning atlas or the land development regulations subsequently enacted o the City. Facilities. As of the Effective Date, an extensive analysis of the Public Facilities available to ser Existing Zoning and/or the Comprehensive Plan require th additional Public Facilities to accommodate the Project, the Dev Public Facilities consistent with the timing requirements of Sectio Florida Statutes (2008), or as otherwise required by a DRI developm the City Code, as amended from time to time, if applicable. Public Section 10. Project Approval. e Developer Parties are conducting the Project. In the event that the Developer Parties to provide oper Parties will provide such 163.3180(2)(a), (b) and (c), t order and Chapter 13 of Further Development Review. The Existing Zoning, the Comp -hensive Plan and this Agreement establish the criteria upon which the Properties s .11 be developed during the term of this Agreement. Prohibition on Downzoning. (1) The Existing Zoning, the Comprehensive Plan and this Agreem- t shall govern development of the Properties for the duration of the Agre lent. City's laws and policies adopted after the Effective Date may be appli 4 to the Properties only if the determinations required by Section 163.3233 {M2727171;7} 5 (c) Florida Statutes (2008) have been made after 30 days written notice to the Developer Parties and at a public hearing. (2) Pursuant to Section 163.3233(3), Florida Statutes (2008), this prohibition on downzoning supplements, rather than supplants, any rights that may vest to the Developer Parties under Florida or Federal law. As a result, the Developer Parties may challenge any subsequently adopted changes based on (a) common law principles including, but not limited to, equitable stoppel and vested rights, or (b) statutory rights which may accrue by v tue of Chapter 70, Florida Statutes (2008). Develo •men of Re • Tonal Im • act. (1) City ac owledges that the development entitlements remaining in the SEOPW D'' I are not sufficient to accommodate the Project. City further acknowledge that the development entitlements currently remaining in the •SEOPW D are not sufficient to allow build -out of properties within the boundaries • the SEOPW DRI, as permitted under the Existing Zoning and the Co •rehensive Plan. (2) Subject to required 1- al processes and approvals, the City and the Developer Parties shall cooperate, and the City shall expeditiously consider (a) the application to approve Increment III to the SEOPW DRI and (b) amendment of the S OPW DRI to accommodate the Project, as well as additional development ithin the boundaries of the SEOPW DRI. (3) If applicable, the City also agrees (a) to expeditiously consider the Developer Parties' application for a new Development of Regional Impact for the Project or (b) to support other a•.lications or legislation that either (i) increases the allowable thresholds for • evelopment so that the Project is not required to be reviewed under Section 380.06, Florida Statutes (2008), or (ii) exempts the Project from re iew under Section 380.06, Florida Statutes (2008). (4) City agrees that any DRI development order whi the City adopts after the Effective Date and which applies to the Prop rties, will include a Use/Intensity conversion table to allow for a reasonab level of flexibility with respect to the mix and intensity of uses in orer to respond to changing market conditions. (5) In the event Project is not exempt from DRI review and 's developed pursuant to a DRI development order, Developer Parties agree o pay their proportionate share of the costs of mitigating the off -site i pacts to regional infrastructure, as determined by the DRI development orer or as required by Chapter 13 of the City Code, as amended from time to ti, e. Section 11. Reservation or Dedication of Land. { M2727171;7} 6 (a) xcept as otherwise provided in this Agreement and pursuant to applicable subdivision regulations, the Developer Parties shall not be required to dedicate or res ve any land within the Properties for municipal purposes. (b) The D- eloper Parties agree to create within the Project (1) one public open space of at leas . 20,000 square feet, (2) one public open space of at least 14,000 square feet, (colle tively the "Open Spaces") and (3) wide sidewalks designed to accommodat- increased pedestrian activity that will include shopping, entertainment . d outdoor seating, as generally labeled on the Regulating Plan attached as Exhib t "E". (c) The Developer Part-'. will retain ownership of the Open Spaces but hereby agree to grant the City a non exclusive easement which will allow public access to the Open Spaces (the "Op Space Easement"). The Developer Parties and the City also agree to execute a maintenance, operation and liability agreement (the "Open Space Agreement' to assign certain responsibilities and obligations regarding the Open Spaces. (d) The City and Developer Parties . gree to execute and record the Open Space Easement and the Open Space A eement prior to the City issuing a building permit for more than 4 million square eet of development on the Property. (e) The general location and dimensions of . e Open Spaces shall be substantially in accordance with the Regulating Plan, o as otherwise mutually agreed by the Developer Parties and the City. The specifiL location and dimensions of the Open Spaces will be determined in the Open Space . asement. (f) Developer Parties retain the exclusive right to d ign, landscape and program the Open Spaces. The conceptual design of the Op Spaces will reviewed by the City and included as part of the Open Space Agree nt. Section 12. Job Creation. Developer Parties shall consult with ocal and state economic development entities, such as Beacon Council, South Florida Work rce, Enterprise Florida, Florida International University School of Hospitality & Tourism Manag ent, and Miami -Dade College in developing a plan for job training and job placement services to ity residents seeking employment opportunities with potential employers which will locate o establish business within the Project. Section 13. Local Development Permits. (a) The development of the Properties in accordance with the Existin,, Zoning is contemplated by the Developer Parties. The Project may require additional permits or approvals from the City, County, State, or Federal governmen, and any division thereof. Subject to required legal process and approvals, the Cr shall make a good faith effort to take all reasonable steps to cooperate wit and facilitate all such approvals. Such approvals include, without limitation, the following approvals and permits and any successor or analogous approvals 1d permits: {M2727171;7} 7 (1) Class II Special Permit and other site plan approvals (including major use special permit, if applicable); (2) Subdivision plat and/or waiver of plat approvals; (3) ovenant or Unity of Title acceptance or the release of existing unities or c enants; (4) Build g permits; (5) Certificate.. of use and/or occupancy; (6) Stormwater ''-rmits; (7) Development o egional Impact approval, modification or exemption; and (8) Any other official acti n of the City or other government agency having the effect of permitting - velopment of the Properties. (b) In the event that the City substanti:, ly modifies its land development regulations regarding site plan approval procedu es, authority to approve any site plan for a project on one of the Properties shall - vested solely in the City Manager, with the recommendation of the Planning l irector. Any such site plan shall be approved if it meets the requirements an criteria of the Existing Zoning, the Comprehensive Plan and the terms of this A. cement. Section 14. Consistency with Comprehensive Plan. The '.ty finds that development of the Properties in conformity with the Existing Zoning is consistent 'th the Comprehensive Plan. Section 15. Necessit of Com.1 in • with Local Re ulations Relative to Development Permits. The Developer Parties and the City agree that the failure of t'i is Agreement to address a particular permit, condition, fee, term, license, or restriction in effect o the Effective Date shall not relieve the Developer Parties of the necessity of complying with th- regulation governing said permitting requirements, conditions, fees, terms, licenses, or re ictions as long as compliance with said regulation and requirements does not require any eveloper Party to develop a Property in a manner that is inconsistent with Existing Zoning, t Comprehensive Plan and/or the Agreement. Section 16. Reservation of Development Rights. (a) For the term of this Agreement, the City hereby agrees that it shall ermit the development of the Properties in accordance with the Existing Zon'. g, the Comprehensive Plan and the Agreement. (b) Nothing herein shall prohibit an increase in the density or intensity of development permitted on the Properties in a manner consistent with (a) t :e Existing Zoning and/or the Comprehensive Plan, (b) any zoning change {M2727171;7} 8 (c) subsequently requested or initiated by any Developer Party in accordance with applicable provisions of law or (c) any zoning change subsequently enacted by the City. he expiration or termination of this Agreement shall not be considered a waiver o ', or limitation upon, the rights, including, but not limited to, any claims of vested rights or equitable estoppel, obtained or held by any Developer Party or its succe ors or assigns to continue development of the Property in conformity with Existing Zoning and all prior and subsequent development permits or developm- t orders granted by the City. Section 17. Streetcar. De eloper Parties acknowledge that the City is currently planning to construct a light rail transit sys -m commonly referred to as the streetcar, which may traverse or abut the Miami WorldCenter Dis ict. Developer Parties agree to cooperate with the City so that any portion of the streetcar route hich runs through, or adjacent to, the Miami WorldCenter District can be accommodated within he dedicated public rights -of -way. Section 18. Communit Develo ement 'strict. (a) City shall support the creati o n of a community development district or other independent special district (' istrict") to assist in funding and constructing onsite and offsite infrastructure . d to provide services required to support the Project, and Developer Parties ma establish, or cause to be established, such District. (b) In the event that the City and County `-stablish a District for the Project, the District may assume any responsibility of any Developer Party under this agreement. Section 19. Annual Review. (a) The City shall review the development that is subj act to this Agreement every 12 months, commencing 12 months after the Effective 1 ate. The City shall begin the review process by giving notice to the Develope Parties, a minimum of 30 days prior to the anniversary date of the Agreement, o ts intention to undertake the annual review of this Agreement. (b) Any information required of the Developer Parties during at annual review shall be limited to that necessary to determine the extent to whic the Developer is proceeding in good faith to comply with the terms of this Agreement. For each annual review conducted during the years 6 through 10 of this greement, the City shall prepare a written report which will be submitted to the . arties to this Agreement and the State land planning agency. (c) If the City finds on the basis of competent substantial evidence that there as been a failure to comply substantially with the terms of the Agreement, the ty may terminate or amend this Agreement after providing 30 days written notice o the Developer Parties and at a public hearing. {M2727171;7} 9 ction 20. Notices. (a) {M2727171;7} All notices, demands and requests which may or are required to be given hereunder shall, except as otherwise expressly provided, be in writing and delivered by personal service or sent by telex, telecopy, telegram, United States Registered or Certified Mail, return receipt requested, postage prepaid, or by vernight express delivery, such as Federal Express, to the parties at the addresses a • telecopy numbers listed below. Any notice given pursuant to this Agreement sha . be deemed given when received. Any actions required to be taken hereunder whic fall on Saturday, Sunday, or United States legal holidays shall be deemed to be p. formed timely when taken on the succeeding day thereafter which shall not be a turday, Sunday or legal holiday. To th- City: City Ma i ager City of mi 3500 Pan A erican Drive Miami, FL 33', 33 With a copy to: City Attorney Miami Riverside Cen`-r 444 S.W. 2nd Ave., 9th loor Miami, FL 33130 To the Developer Parties: Managing Member Miami WorldCenter LLC. 700 NE 2nd Avenue Miami, FL 33132 With copies to: Berger Singerman Attn: Sam Poole 200 S Biscayne Blvd, Ste. 1000 Miami, FL 33131 With copies to: Akerman Senterfitt Attn: Neisen Kasdin 1 SE 3rd Avenue, 25th Floor Miami, FL 33131 To the SEOPW CRA as courtesy notice: Executive Director SEOPW CRA 49 NW 5th Street, Suite 100 Miami, Florida 33128 10 (b) Any Party to this Agreement may change its notification address(es) by providing written notification to the remaining parties pursuant to the terms and conditions of this section. Section 21. Joinder. (a) If Developer Party acquires fee simple title to a Property Not -Included subsequent to the Effective Date, the Developer Party may incorporate that proper into this Agreement, subjecting it to the rights and obligations establish`: d hereunder, provided that the Developer Party executes the Joinder Form and cknowledgeinent of Joinder attached as Exhibit "F". Once executed, the Develop Party shall record the executed Joinder Form in the public records of Miami -Dade County and file same with the City Clerk. (b) The parties agree hat any property which is incorporated into the Agreement through this Joinde provision shall be subject to the Existing Zoning, the Comprehensive Plan a ; d the terms of this Agreement. In the event that the City does not afford any subs uently incorporated property with the protections of the Existing Zoning, the Comrehensive Plan and the terms of this Agreement, the City will be deemed to have e eached this Agreement. Nothing herein shall prohibit the Developer Parties from objecting to any policy which would not afford a subsequ tly incorporated property with the protections of the Existing Zoning, the Compreh nsive Plan and the terms of this Agreement. Section 22. Exclusive Venue, Choice of Law, , ecific Performance. It is mutually understood and agreed by the parties hereto, that this A keement shall be governed by the laws of the State of Florida, and any applicable federal law, bot as to interpretation and performance, and that any action at law, suit in equity or judicial proce \ dings for the enforcement of this Agreement or any provision hereof shall be instituted only in t e courts of the State of Florida or federal courts and venue for any such actions shall lie exclu 'vely in a court of competent jurisdiction in the County. In addition to any other legal right the City and the Developer Parties shall each have the right to specific performance of this Agr ement in court. Each party shall bear its own attorney's fees. Each party waives any defense, whe er asserted by motion or pleading, that the aforementioned courts are an improper or inconvenie venue. Moreover, the parties consent to the personal jurisdiction of the aforementioned courts d irrevocably waive any objections to said jurisdiction. The parties irrevocably waive any rights a jury trial. Section 23. Voluntary Compliance. The Developer Parties and the City ree that in the event all or any part of this Agreement is struck down by judicial proceeding o .reempted by legislative action, the Developer Parties and the City shall continue to honor t e terms and conditions of this Agreement to the extent allowed by law. Section 24. No Oral Change or Termination. This Agreement and the exhi •'ts and appendices appended hereto and incorporated herein by reference, if any, constitute the -ntire Agreement between the parties with respect to the subject matter hereof. This Agree sent supersedes any prior agreements or understandings between the parties with respect to Ie subject matter hereof, and no change, modification or discharge hereof in whole or in part shah, (c) {M2727171;7} 11 be effective\ nless such change, modification or discharge is in writing and signed by the party against whom -nforcement of the change, modification or discharge is sought. This Agreement cannot be changod or terminated orally. Section 25. Com•liance with Applicable Law. (a) Subject ,• the terms and conditions of this Agreement, throughout the Term of this Agree ent, the Developer Parties and City shall comply with all applicable federal, step\ or local laws, rules, regulations, codes, ordinances, resolutions, administrative orders, permits, policies and procedures and orders that govern or relate to the .espective Parties' obligations and performance under this Agreement, all asp, ey may be amended from time to time. Section 26. Representations; Re esentatives. Each party represents to the others that this Agreement has been duly authorized, • elivered and executed by such party and constitutes the legal, valid and binding obligation of su party, enforceable in accordance with its terms. Section 27. No Exclusive Remedies. '• remedy or election given by any provision in this Agreement shall be deemed exclusive unle expressly so indicated. Wherever possible, the remedies granted hereunder upon a default of t e other party shall be cumulative and in addition to all other remedies at law or equity arising fro such such event of default, except where otherwise expressly provided. Section 28. Failure to Exercise Rights not a Waive Waiver Provisions. The failure by either party to promptly exercise any right arising hereunder shall not constitute a waiver of such right unless otherwise expressly provided herein. No waiv or breach of any provision of this Agreement shall constitute a waiver of any subsequent breah of the same or any other provision hereof, and no waiver shall be effective unless made in writin Section 29. Events of Default. (a) A Developer Party shall be in default under thi . Agreement if any of the following events occur and continue beyond the a •licable grace period: a Developer Party fails to perform or breaches any term, venant, or condition of this Agreement which is not cured within thirty (30) days fter receipt of written notice from the City specifying the nature of such breach; pr vided, however, that if such breach cannot reasonably be cured within thirty 30) days, then a Developer Party shall not be in default if it commences to cure ch breach within said thirty (30) day period and diligently prosecutes such cure to completion. (b) The City shall be in default under this Agreement if the City fails perform or breaches any term, covenant, or condition of this Agreement and su failure is not cured within thirty (30) days after receipt of written notice from a eveloper Party specifying the nature of such breach; provided, however, that if suc ` breach cannot reasonably be cured within thirty (30) days, the City shall not be in • -fault if it commences to cure such breach within said thirty (30) day period and diligently prosecutes such cure to completion. {M2727171;7) 12 (c) It shall not be a default under this Agreement if either party is declared bankrupt by a court of competent jurisdiction. All rights and obligations in this Agreement shall survive such bankruptcy of either party. The parties hereby forfeit any right to terminate this Agreement upon the bankruptcy of the other party. (d) T ` - default of any Developer Party or successor or assignee of any portion of a Dev oper Party's rights hereunder shall not be deemed a breach by any other Devel . . er Party or any other successor or assignee of any portion of the rights of a Develo er Party hereunder or any other successor or assignee. Section 30. Remedies U en Default. (a) Neither party m:\ terminate this Agreement upon the default of the other party, but shall have all o \the remedies enumerated herein. (b) Upon the occurrence r a default by a party to this Agreement not cured within the applicable grace pe'.od, the Developer Parties and the City agree that any party may seek specific pe ormance of this Agreement, and that seeking specific performance shall not wai - any right of such party to also seek monetary damages or any other relief o er than termination of this Agreement. The City hereby acknowledges that any aim for damages under this Agreement is not limited by sovereign immunity or ''inilar limitation of liability. In addition to any other remedies available to the Cit hereunder, in the event of default by any Developer Party or any successor or signee, the City may withhold any permit or other approval, but only for the party breach. Section 31. Severability. If any term or provision of thi Agreement or the application thereof to any person or circumstance shall, to any extent, herea er be determined to be invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances other than those as to which it is held i valid or unenforceable shall not be affected thereby and shall continue in full force and effect. Section 32. Assignment and Transfer. This Agreement shall beinding on the Developer Parties and their heirs, successors and assigns, including the successor to or assignee of any Property Interest. A Developer Party, at its sole discretion, may assign, whole or in part, this Agreement or any of its rights and obligations hereunder, or may extenthe benefits of this Agreement, to any holder of a Property Interest without the prior written c nsent or any other approval of the City. In addition, additional parties that are affiliates or assignees of the Developer Parties may be added to this Agreement if the party added holds a Pr b •erty Interest in or adjacent to the Miami WorldCenter District and executes a joinder form in the form attached as Exhibit "F", and records such joinder form in the public records of Miami -Dade ounty. Such party shall be a Developer Party, and such joinder form shall be acknowledged the City Manager or his or her designee. Any such assignee or additional party shall aume all applicable rights and obligations under this Agreement. Section 33. Obligations Surviving Termination Hereof. Notwithstanding and prevailing sver any contrary term or provision contained herein, in the event of any lawful termination of t' is Agreement, the following obligations shall survive such termination and continue in full forc {M2727171;7} 13 and effect until the expiration of a one year term following the earlier of the effective date of such ermination or the expiration of the Term: (i) the exclusive venue and choice of law provisio , s contained herein; (ii) rights of any party arising during or attributable to the period prior to ex ration or earlier termination of this Agreement, and (iii) any other term or provision herein whit\ xpressly indicates either that it survives the termination or expiration hereof or is or may be appli able or effective beyond the expiration or permitted early termination hereof. Section 34. Lacks f A enc Relationshi . Nothing contained herein shall be construed as establishing an agent relationship between the City and any Developer Party and neither any Developer Party nor its e , ployees, agents, contractors, subsidiaries, divisions, affiliates or guests shall be deemed agents, in umentalities, employees, or contractors of the City for any purpose hereunder, and the City, its c tractors, agents, and employees shall not be deemed contractors, agents, or employees of any De eloper Party or its subsidiaries, divisions or affiliates. Section 35. Cooperation; Expedit-d Permitting and Time is of the Essence. (a) The parties agree to co pursuant to the terms and time is of the essence in all a pursuant to this Agreement. extent reasonably practical the assist any Developer Party in construction milestones. The City Party's general contractor and subcon packages, such as those for site work a and interiors. In addition, the City will d Manager's office who will have a primary (th the City's point of contact and liaison with facilitate expediting the processing and issua applications and approvals across all of the various City which have the authority or right to review an permits and licenses. erate with each other to the full extent practicable onditions of this Agreement. The parties agree that ects of their respective and mutual responsibilities e City shall use its best efforts to expedite to the rmitting and approval process in an effort to achieving its demolition, development and 1 accommodate requests from a Developer actors for review of multiple permitting foundations, and building shell, core ignate an individual within the City ugh not exclusive) duty to serve as e Developer Parties in order to ce of all permit and license epartments and offices of the approve all applications for (b) Notwithstanding the foregoing, the City shall not b obligated to issue development permits to the extent a Developer Party does of comply with the applicable requirements of the Existing Zoning, the Compr hensive Plan, this Agreement and applicable building codes. Section 36. Enforcement. In the event that a Developer Party, its successors and/or assigns fail accordance with the terms of the Existing Zoning, the City shall seek en of said violation upon the subject Property. to act in rcement Enforcement of this Agreement shall be by action against any parties or pe on violating, or attempting to violate, any covenants set forth in this Agreement. e prevailing party in any action or suit pertaining to or arising out of this Agreemen shall be entitled to recover, in addition to costs and disbursements allowed by law, {M2727171;7} 14 s ' h sum as the Court may adjudge to be reasonable for the services of this/her/its atto ey. (c) This en'®rcement provision shall be in addition to any other remedies available at law, in eq ' ty or both. Section 37. Amendment i , Termination b Mutual Consent. This Agreement may not be amended or terminated during term except by mutual agreement of the Developer Parties and the City. Prior to amending or rminating this Agreement during its term, the City shall hold two public hearings. Section 38. Third Party Defense. City and Developer Parties shall, at their own cost and expense, vigorously defend any claim., suits or demands brought against it by third parties threatening the Agreement, challenging ts enforceability, or objecting to any aspect thereof, including, without limitation, any claim . for loss, damage, liability, or expense (including reasonable attorneys' fees). City and Deve oper Parties shall promptly give the other written notice of any such action, including those t at are pending or threatened, and all responses, filings, and pleadings with respect thereto. Section 39. No Conflict of Interest. The Deve per Parties agree to comply with Section 2- 612 of the City Code as of the Effective Date, with r pect to conflicts of interest. Section 40. No Third -Party Beneficiary. No perso s or entities other than the Developer Parties and the City, their heirs, permitted successors and assigns, and any party that has executed a copy of the attached Joinder Form, shall ha e any rights whatsoever under this Agreement. Section 41. Counterparts. This Agreement may be execut: • in three or more counterparts, each of which shall constitute an original but all of which, whei taken together, shall constitute one and the same agreement. NOW, WHEREOF, the City and the Developer Parties have •.used this Agreement to be duly executed. [Signature blocks for City and all Developer Partie {M2727171;7} 15 MIAM WORLDCENTER GROUP, LLC., a Florida limited liability company BY: Na e: Title: MR 44F LLC, a Florida ited liability company BY: Name: Title: PARK WEST 3 LLC, a Florida limited 'I ability company BY: Name: Title: 915 N MIAMI LLC, a Florida limited liability compa BY: Name: Title: MIAMI AUCTION PROP LLC, a Florida limited liability compa BY: Name: Title: PARK WEST 5 LLC, a Florida limited liability company BY: Name: Title: {M2727171;7} 16 701 N MIA I LLC, a Florida limited liability company BY: Name. Title: 46 NE 10TH LLC, a Flori BY: Name: Title: limited liability company 13 PARCELS LLC, a Florida limited lia BY: Name: Title: ility company 700 NE 1ST LLC, a Florida limited liability compan BY: Name: Title: 44 NW 11TH LLC, a Florida limited liability company BY: Name: Title: 100 NE 11TH LLC, a Florida limited liability company BY: Name: Title: {M2727171;7} 17 MIAMI ' 41 PROPERTY LLC, a Florida limited liability company BY: Na Title: 701 NE 1ST LLC, a Florida imited liability company BY: Name: Title: 950 NE 2ND LLC a Florida limited liabilit company BY: Name: Title: 717 NE 1ST LLC, a Florida limited liability company BY: Name: Title: {M2727171;7} 18 ATTE ED TO: CITY OF MIAMI, a municipal corporation of the State of Florida PRISCILLA A. T AMPSON CITY CLERK STATE OF FLORIDA COUNTY OF MIAMI-DADE Sworn to and subscribed before me is 20 , by Pedro G. Hernandez, as City Man ; • er of the State of Florida. He is personally known o as ide APPROVED AS TO LEGAL FORM AND CORRECTNESS: JULIE O. BRU CITY ATTORNEY { M2727171;7 } 19 PEDRO G. HERNANDEZ CITY MANAGER day of of the City of Miami, a municipal corporation me or has produced ification. Nota Public, State of Florida Print o stamp name: Commis on No.: My Co ssion Expires: Legal Descripti ns of the Property {M2727171;7} 20 Ex •bit "B" Legal Descriptions of the 'roperty Not -Included {M2727171;7) 21 Exhibit "C" Conce u,tual Site Plan {M2727171;7) 22 E ibit "D" SD-16.3 Zoning 1" trict Regulations { M2727171;7 } 23 Exhi 't "E" Regulatin:SPlan {M2727171;7} 24