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CRA-R-12-0082 11-26-12 Back-Up
Miami -Dade My Home Page 1 of 2 My Home mia 7i ,. ado.go Show Me: Property Information Search By: Select Item • 12 Text only Property Appraiser Tax Estimator Property Appraiser Tax Comparison Summary Details: Folio No.; 01-0102-060-1160 Property: _ 920 NW 2 AVE Mailing 920 AND FROW LLC Address: CIO GEORGE A MINIM 20818 W DIXIE HWY AVENTURA FL 33180- Property Information: Primary Zone: 6100 COMMERCIAL - NEIGHBORHOOD CLUC: 0009 MIXED USE - RESIDENTIAL BedsiBaths: 010 Floors: 2 Living Units: 0 AdJ Sq Footage: 7,684 Lot Size: 7,218 SO FT Year Bullt: 1954 P W WHITES RESUB OF BLK 28 NORTH PB B-34 Legal LOTS 25 & 32 & Description: N15.62FT OF LOT 33 LOT SIZE 65.620 X 110 OR 15030-2308 0591 4 Assessment Information: Year: 2012 2011 Land Value: $158,796 $158,796 Building Value: $35,000 $35,000 Market Value: $193,790 $193,796 Assessed Value: $193,796 $193,796 Taxable Value Information: Year: 2012 2011 Applied Applied Taxing Authority: Exemption/ Taxable Exemption/ Taxable Value: Value: Regional: $04193,796 $0/$193,796 County: $04193,796 $01$193,796 City: $01$193,796 $14193,796 School Board: $01$193,796 $0l$193,796 Sale Information: Sale Date: 4/2012 Sale Amount: $100 Sale O/R: 28220-0014 Sales Deeds to or from financial Qualification Description: Institutions View Additional Sales Additional Information: Click here to see more information for this sporty: Community Development District Community Redevelopment Area ACTIVE TOOL: SELECT Aerial Photography - 2012 4 • 0 My Home I Property Information I Property Taxes I My Neighborhood 1 Property Appraiser Home I Using Our Site I Phone Directory I Privacy I Disclaimer 'wawa, 110ft If you experience technical difficulties with the Property Information application, or wish to send us your comments, questions or suggestions please email us at Webmaster. Web Site ® 2002 Miami -Dade County. All rights reserved, Legend • Property Boundary • Selected • Property Street ♦I Highway Miami -Dade County Water WE http://gisims2.miamidade.gov/myhome/propmap.asp 11/20/2012 SUPPORTING DOCUMENTATION THiS FORM HAS 19EEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS' AND THE FLORIDA BAR "As Is" Contract For Sale And Purchase FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR "As Is" 1* PARTIES: 920 AND FROW, LLc, a Honda limited liabilttycpmpanv ('Suer"), 21 and Southeast OvertoWn/Park West Community Redevelopment Ageriwy (`Buyei 3 hereby agree that Seller shalt sets and Buyer shall buy the following described Beat Property and Personas Property (collectively 'Property) 4 pursuant to the terms and conditions of this Contract for. Sale and Purchase; and any riders and ,addencla ('Contract') 5 I. DESCRIPTION; 6' (a) Legal description of the 'Real Property located in Miami -Dade County, Florida Lots 25, 32 and 7* Nerth 15 62-feet of Lot 33 B.lock:26 North PB "B" at Facie 34 (Folio No 01 -0102 060 1150) 8* (b) Street address, city, zip, of the Property '920 NW 2nd Avenue, Meats, FL . 9 (c) Personal Property includes existing range(s), refrigerator(e), dishwasher(s), ceiling fan(s), light fixture(s), and window treatment(e) unless 10 specifically pxgluded below 11* Other items included are all personal property located on the property owried by Seiler 12* 13* Items of Personal Property (and leased items, if any) excluded are 14* 15* II. PURCHASE PRICE (OS currency) 16 PAYMENT: 17* (a) Deposit held rn escrow.by Holland. & Knraht LLP ('Escrow Agent ) in the amount of (checks subject to cleararide) $ 5.000 00 18* Escrow Agent's address lot •anckoll Avenue -Sofa soon Mini rr. 3313i phone 305 789 7712 * pAgent within days after Etlective Date iri the amount'of $ 19 @) Additional escrow deposit to be Made to Escrow 20* (c) Financing in the amount of rLoan Amount) see Paragraph IV below $ 21* (0) (Mar 22 (c) Balance to close by cash wire transfer or .LOCALLY DRAWN cashiers er official bank check(s) subject 23* to adluslnienls or proratfons $ 145,nQr1 on 24 III. TIME FOR.ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE PATE: 25 (a) If this offer is not axeculed by and ,delivered to all pares OR FACT OF D(ECU11ON communicated in Writing between the parties on or 26* before -see addendum , the deposit(s) will, at Buyer's option, be_returned and this rifler withdrawn Unless other- 27 Wise stated, the trrne for acceptance of any counteroffers shall be 2 days from the date the counteroffer is delivered. 28 (b) The date of Contract ('Effective Date') will be the date when the last one of the Buyer and Seller has signed or initialed this offer or the 29 final counteroffer If such date is not otherwtse set forth in this Contract, than the "Effective Date' shall be the dale determined above for 30 acceptance of this offer or, if applicable, the treat counteroffer 31 ty, .FINANCING: 32* ih (a) This is a cash transaction with no contingencies for financing, 33' ❑ (b) This Contract is c.Onen9ent en Buye r obtaining written Joan'commltment which confirms underwriting loan approval for a loan to purchase 34* thr3 Property ('Loan Approval, within days (if bank, then 30 days) after Effective Date (than Approval Date') for (CHECK ONLY 35* ONE) Li a fixed, Ll an adjustable, or 1 e fixed or adjustable rate loan, in the Loan Amount (See Paragraph II Co)) at an initial interest rate not to rs B 36* exceed 56, and for a term of yeauyer will -make apghoatron within days if blank, then .5 days) after Effective Date 37 BUYER: Buyer shall use reasonable diligence.to obtain Loan Approval_, notify Seller in witting of receipt of Loan Approval by Loan,Approval 38 Date, satisfy terms of the Loan Approval, and close the roan Loan Approval which requires a condition related :to the. sale of other property shall 39 not be deerned.Loan Approval for lurposes of this subparagraph 8uyersholl_ pay.all loan expenses Buyer authonxes the mortgage broker(s) and 40 lender(s) to disclose infomialion regarding_ he conditions, .status, and progress of loan application and Loan Approval to Seller, Sollerb-attorney, 41 real palate licensee(s), and :Closir g Agent- 42 SELLER: If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may thereafter cancel this Contract by 43 dets enng written notice ('Seller's. Cancallafion.Notrce") to Buyer, but not later than seven (7) days pnor.to Closing Seller's Cancellation Notice.shall 44 rratiiy Buyer that Buyer has :three(3) days to-delrver to Seller written iietrce waiving this Financing contingency; or the Contract shst be oenoelled 45 DEPOSIT(S) (for purposes of this Financing Paiagraph.IV(b) only); If Buyer has used reasonable diligence but does not obtain Loan.Approva! 46 by Loan Approval Date, and thereafter either petty elects to cancel this Contract, the deposits) shall be returned to Buyer If Buyer obterns-Loan 47 Approval or waives this Financing corntingcncy; and thereafter the Centred door not close, then the deposit(s) shall be paid to.'Seller, provided how- 48 ever, if the fedora to close 8 due to (i) Seller's fatl,ire or refusal to close or Saga' otheivinse•teuls to meet the terms of the Contract, .or (j) Buyers: lender 49 fails to mo; roe and approve an appraisal of the Property in en amount sufficientto meet the terms of the Loan Approval, then the deposits) shall be 50 retur eed to [3uyer 51* 0 (c) Assumption of existing mortgage (see .nder for terms), or 62* 0 (d) purchase:rrioney note and mortgage to Seller (sae 'As is" Standards B end K and riders, addenda, or special clauses for terms) 53* V, TITLE EVIDENCE: At least days .lrl blank, then b days) before Closing. a title insurance oornrnitrtlent with legible copies of instruments listed as 54 exceptions attached thereto ( Title Comrnitment")arnd, after Closing., an owner's policy oftitle insurance (see Standard A for terms) shall be obtained by 65* (CHECK ONLY ONE) l (1) Seller, al .Sellers expense and `delivered to Buyer or Buyer's attorney, or 56*! (2) Buyer at Buyers expense 57* (CHECK. HERE); 0 If an abstract of title la to be furnished instead of title -insurance, and attach rider for terms 58' VI CLOS)NC DATe This transaction shall be. closed and the closing documents delivered on see addendum ("Closng'1, unless 59 modified by other pin visions oMies Contract In the event .of extreme weather or other conditions or events constituting *force maieure", Closing will be 60 extended a reasonable time until (r) restoration Qf uti hies and otherservices. essential to ClOsir j, aind (() availability of Hazard, Wind, Rt d,.or Horheowners' 61' insurance If such conditions continue mcxe than days (if blank. then 14 clays) beyond Closing pate, uteri ether party. may cancel this Contrail FAR/13AR ASIS 2x Rev 2/08 0 2008 Florida Association of Ra ions* and The Ronda Bar All Rights Reserved Pagel of 6 $ 1511000.00 62 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to comprehensive land use plans, zoning, 63 restrclions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing an the plat or otherwise 64 common to the subdivision, oatsia , unplatted public utility easements of record 65 (located contiguous to real property lines and not more than 10 feet in wdth as to the rear or front lines and 7 1/2 feet in width as to the side 66 lines), taxes for year of Closing and subsequent years, and assumed mortgages and purchase money mortgages, if any (if additional Items, see 67' addendum), provided, that none prevent use of the Property for 68" purpose(e) 60 VIII. OCCUPANCY: Seller shaft deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein. If Property is intended 70 to be rented oroccupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to "AS IS" Standard 71 F If occupancy is to be delivered before Closing, Buyer assumes all nsks of loss to Property from date of occupancy, shall be responsible and liable 72 for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy. 73 IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS; Typewritten or handwritten provisions, riders and addenda shall control all punted pro- 74 visions of this Contract in conflict with them 75" X. ASSIGNABILITY: (CHECK ONLY ONE) Buyer Ci may assign and thereby be released from any further liability under this Contract, CI may 76" assign but not be released from liability under this Contract, or t may not assign this Contract 77 XI, DISCLOSURES: 78 (a) The Property may be subject to unpaid special assessment liens) Imposed by a public body ("public body" does not include a 79 Condominium or Homeowners' Association) Such Iren(s), if any, whether certified, confirmed and ratified, pending, or payable in installments, 80* as of Closing, shall be paid as follows CI by Seller at closing 0 by Buyer (If left blank, then Seller at Closing). If the amount of any 81 assessment to be paid by Seller has not been finally determined as of Closing, Seller shall be charged at Closing an amount equal to the 92 last estimate or assessment for the improvement by the public, body B3 (b) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks b pee 84 sons who are exposed to it over time Levels of radon that exceed federal and state guidelines have been found in buildings in Florida B5 Additional information regarding radon or radon .testing may be obtained from your County Public Health unit. 86 (c) Mold is naturally occurnng and may cause health nsks or damage to property If Buyer is concerned or desires additional information 87 regarding mold, Buyer should contact an eppropnate professional 88 (d) Buyer acknowledges receipt of the Florida Energy -Efficiency Rating Information Brochure required by Section 558 996, F.S 89 (e) If the Real Property includes pre-1978 residential housing, them a lead -based paint nder is mandatory 90 (I) If Seller is a °foreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with that Aol 91 (g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIA- e2 T1ON/COMMUNITY DISCLOSURE. 93 (h) PROPERTY TAX DISCLOSURE SUMMARY BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE AMDUI4T 94 OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE A CHANGE OF OWNER- 95 SHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES, 96 IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION 97 XII. MAXIMUM REPAIR COSTS: DELETED 98* XIII. HOME WARRANTY: CI Seller O Buyer 0 N/A will pay for a home warranty plan issued by 99* at a cost not to exceed $ 100* WI. NSPEe-Tlefl-PERferlerANEr Rleff'FTerli6Etryer-eirefiene-Effeative-aate-einepeietien-Preeiezeteevi 101 which to have such inspections of the Properly performed as Buyer shall desire and utilities service shell be made : . . + e •y the 102 Seller during the lnspectien Period; (b) Buyer shall be responsible for prompt payment for such ins • • nil repair of damage 103 to and restoration of the Property resulting from such inspections and this provision • urvfve termination of this Contract; 104 and (c) if Buyer determines, in Buyer's sole discretion, that the Property Is + = ptable to Buyer, Buyer may cancel this Contract 105 by delivering facsimile or written notice of such election to - r or to the expiration of the Inspection Period. If Buyer timely 106 cancels this Contract, the deposit(s) paid she e • lately returned to Buyer; thereupon, Buyer and Seller shall be released of 107 a / further obligations under th! , except as provided in this Paragraph X114 Unless Buyer exercises the right to cancel 108 granted herein, B . _ - opts the Property in its present physical condition, subject to any violation of governmental, building, 109 envi • - , and safety codes, restrictions or requirements and shall be responsible for any and all repairs and improvements 110 qulred-by Buyer 3 lerrVI. 111 XV. RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attaohed to and made part of this Contract 112" 0 CONDOMINIUM C3 VA/FHA Ct HOMEOWNERS' ASSN. CI LEAD -BASED PAINT ❑ COASTAL CONSTRUCTION CONTROL LiNE 113" 0 INSULATION C1 EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions le Addenda 114* Special Clause(s) 115" 116" 117" 118" 119" 120* 121* 122* 123* 124* 125* 126 XVI. "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS 1S" Standards): Buyer and Seller acknowledge receipt of a copy 127 of "AS IS" Standards A through Z on the reverse side or attached, which are incorporated as part of this Contract FAR/BAR ASIS-2x Rev 2/06 0 2008 Florida Association of Ru :roar and The Florida Bar All Rights Reserved t Page 2 of 5 128 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, 129 SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING, 130 THIS "AS IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS° AND THE FLORIDA BAR. 131 Approval does not constitute an opsmon that any of the terms and conditions in this Contract should be accepted by the parties in a 132 particular transaction Terms and conditions should be negotiated based upon the respective interests, objectives and bargaining 133 positions of all interested persons. 134 AN ERISK(') FOLLOWING A NUMBER IN E MARGIN INDICATES THE LI CONTAINS A BLANK TO BE COMPLETED, Soothe: adown/Pork c.: al r rI g2D e FR W, LL 1351Fled �..e a — % %,, f2' ay t3Z 3 +�rces iec� / 136 (BY i� � Af / I Ki ay ✓ Wends III, t xecutive ()nectar 137*. 138 (BUYER) (DATE) 130* Buyers' address for purposes of notice Sellers' address for purposes of notice 140` 141' Phone Phone 142 BROKERS: The brokers (including cooperating brokers, if any) named below are the only brokers entitled to compensation in connection with 143 this Contract: 144* Name see addendum NIA 145 Cooperating Brokers, If any Listing Broker FAR/BAR AM-2x Rav 2/08 ti 20013 Florida Association of RCnr ions'° and 'Me Florida Bar All Rights Reserved Pogo 3 of 6 (DATE) 146 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS 147 A. TIRE INSURANCE; The Title Commitment shall be issued by a Florida Ocenaod tele insurer agreeing to issue Buyer, upon recording of the deed to Buyer, 148 an owners policy of title insurance in the amount of the purchase pace, insunng Buyer's marketable idle to the Real Property, sutt)eot only to matters contained 149 in Paragraph VII and those to be discharged by Seller at or before Closing Marketable true shall be determined aoaordng to applicable Trite Standards adopt 150 ed by authority of The Florida Bar and in accordance with law Buyer shall have 6 days from date of receiving the Title Commitment to examine d, and d tale is 151 found defective, notify Selterr in writing specifying defect(s) which render title unmarketable Seller shall have 30 days from receipt of notice to remove the 152 defects, fading which Buyer shall, within 5 days after expiration of the 30 day penod, detrver written notice to Seder either (1) extending the time for a reason- 153 able period not to exceed 120 days within which Saver shall use diligent effort to remove the defects, or (2) requestng a refund of deposd(s) paid which shall 154 be returned to Buyer If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then is Seller shall, if title is found unmarketable, 155 use dAigant effort to correct dsfect(s) within the time provided ff, alter diligent effort, Seller is unable to timely correct the defecte, Buyer shall either waive tho 156 defects, or receive a refund of deposit(s), thereby releasing Buyer end Seller from ail further obligations under this Contract If Seiler is to provide the Title 157 Commitment and it is detnered to Buyer less than 6 days prior to Closing, Buyer may extend Closing so that Buyer shall have up to 5 days from date of receipt 158 to examine same in accordance with this "AS IS" Standard 159 B. PtIRCIIASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage note to Seller shall provide for a 160 30 day grace period in the event of default if a first mortgage and a 15 day grace penod if a second or leaser mortgage, shall provide for nght of prepayment 161 in whole or in part without penalty, shall permt acceleration in event of transfer of the Real Property, shall require all pnor liens and encumbrances to be kept 182 in good standing, shall forbid modifications of, or future advances under, prior mortgage(s), shall require Buyer to maintain policies of Insurance oontaenrng a 163 standard mortgagee clause covering all improverents boated on the Real Property aflsinat fire and all penis included within the term "extended coverage 164 endorsements" and such other asks and penis as Seiler may reasonably require, in an amount equal to their highest insurable value, and the mortgage, note 165 and security agreement shall be otherwise in form and content required by Seger, but Seller may only require clauses and coverage customanty found in mort- 166 gages, mortgage notes and Security agreements generally utilized by savings and roan institutions or state or national banks located in the county wherein the 167 Real .Property is located All Personal Property and leases being conveyed or assigned we, at Seifert option, be subplot to the hen of a security agreement eve 168 denied by recorded ar died financng statements or certificates of elle If a balloon mortgage, the final payment will exceed the pewee payments thereon 169 C. SURVEY Buyer, at Buyers expense, within time allowed to deliver evidence of tips and to examine same, may have the Real Property surveyed and cere- 170 had by a registered Ronda surveyor If the survey discloses encroachments on the Real .Property or that improvements located thereon encroach on setback 171 fines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a title defect 172 D. WOOD DESTROYING ORGANISMS: DELETED 173 E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as descnbed 174 in Paragraph VII hereof and idle to the Real Property is insurable in accordance with "AS IS Standard A without exception for lack of legal right of access 176 ",•� c, 'm - r ,r_ .•s u. r r �•.. . 176 and duration of the tenants occupancy, rental rates, advanced rent and eeounty deposes paid by ten: i r, =tterfrom each ten- 177 ant, the same information shall be furnished by Salter to = = r ., . • • orm of a Seller's alfidavrt, and Buyer may thereafter contact ten- 176 ant to oonttim such in differ matenaty from Seller's representations, Buyer may terminate the Contract by delivering written 179 180 G. LIENSt Seller shall furnish to Buyer at time at Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any fenenolng statement, 1 e1 claims of hen or potential honors known to Seller and further attesting that them have been no improvements or repairs to the Real Property for 90 days versa- 182 diately preceding date of Closing if the Rea! Property has been improved or repaired within that time, Seller shall deliver releases or waivers of construction 183 liens executed by ell general contractors, sub contractors, suppliers and matenatrnen in addition to Seler's lien affidavit setting forth the names of all such gen- 184 eral contractors, subcontractors, suppliers and matenalmen, further affirming that ail charges for improvements or repairs which could serve as a basis for a 185 oonstructron lien or a claim for damages have been pad or will be paid at the Closing of this Contract 186 H. PLACE OF CLOSING: Closng shall be held in the county wherein the Real Property is tocated at the office of the attorney or other dosing agent ("Closing 187 agent') designated by the party paying for title insurance, or. if .no tele ahsuranoe, designated by Seiler 138 I.71ME: Calendar days shell be used in computing time periods except periods of less than sa (6) days, in which event Saturdays, Sundays and state ar nation• 189 et legal holidays shall be excluded Any time periods provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 500 p m of the 190 next business day Time is of the essence in this Contract: 191 J. CLOSING DOCUMENTS: Seller shall furnish the deed, bull of Bale, certificate of telo,aonstruchon hen effidait, owner's possession .affidavit, asxgnmanlsi 192 teetereefeendynortgergerresteepaHetterreantecorseetivelestrornenter Buyer shall furnish mortgage. mortgage note, security agreement and financing statements 193 K. EXPENSES: Documentary stamps on the deed and recording of con'eclnre instruments shall be paid by Seller Alt costs of Buyer's ban (whether obtained 1g4 from Seler or third parts), secluding, but not knitted to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, lee movtgagee title insurance commitment with related fees, and recordng.of purchase money mortgage, deed and tinanchg statements shall be paid by %e'er 196 Unease otherwise provided by law or rider to this Contract, charges for related closing services, tele search, and closing fens enduring preparation of dosing 197 statement), Shall be paid by the party msponsibte for furnishing the tilts evrdenoe in accordance with Paragraph V 198 L PROBATIONS; ITS:Taxes ants, rent, interest, insurance and other =• r,:,- v.. of the Property shall be prorated through the day before Closing 199 Buyer shaft) e option of over exislirig policies • surance, d assu , :, in which event pre be prorated Cash wing shall be 200 in decreased as required by prorate .. o be made th y pnor to Closing, or oocu , d occupancy occurs Closing Advance 201 rent securely depo I be credited to : - • , deposits ,; • • mortgagee will be o Seller Taxes shall be p ed based on the 202 tauc with due wane made for .,. um allowable disco , ornestead and other exe tr Closing occurs at a when the current :. 1l- 203 age a not fix d current year's t rs available, i ae will be prorated based u ch assessment and ar's mrllege If current assess- 204 mint is n le. then taxes r : prorated on prior - tax If there are comele mpravemertts on the R roperiy by January i st of of Closing 205 provernents were n• existence on Jen :. at of pnor year, then taxes be prorated based or year's miltage and at :. eq.:table 206 to be agreed upo * : wean the reveres, f rig which, request shall to the County P Appraiser for an info merit rig into 207 account available exemptions A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of current year's tax bill 208 M. (RESERVED - purposely left blank) 209 N. INSPECTION AND REPAIR: DELETED 210 O. RISK OF LOSS If, after the Effective Date, the Property is damaged by fire or other casualty ('Casualty Loss") before Closing end cost of restoration (which 211 shall include the cost of pruning or removing damaged trees) does not exceed 1 5% of the Purchase Price, cost of restoration shall be an Megaton of Seller and 212 Closing shall proceed pursuant to the terms of this Contract, and if restoration is not oaripteled as of Cbsing, restoration costs will be escrowed at Closing 11 213 the cost of restoration exceeds 1 5% of the Purchase Price, Buyer shall other take the Property as is, together with the 1 5% or receive a refund of depose(s) 214 thereby releasing Buyer and Seller from ail further obligations under this Contract Seller's sole obligation with respect to tree damage by casualty or other natu- 215 ral occurrence shall be the cost of pruning or removal 216 P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds If the title agent insures adverse matters pursuant to Section 827 7641, 217 FS , as amended, the escrow and closing procedure required by this 'AS IS` Standard shell be warred Unless waived as ail forth above the following FAR/BAR ASIS-2x Rev 2/08 0 2008 Honda Association of ReeLeoas" and The Fonda Bar All Rights Reserved Page 4 of 6 218 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 219 closing procedures shall apply (1) all closing proceeds shall be held in escrow by the Closing Agent for a period of not more than 5 days after Closing, (2) 220 if Seller% tale is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day penod, notify Seller in wnting of the defect and Seller shall 221 have 30 days from date of receipt of such notification to cure the defect, (3) if Seller fails to timely cure the defect, all deposits and closing funds shall, upon 222 written demand by Buyer and within 5 days after demand, be returned to Buyer and, sirnullaneously with such repayment, Buyer shall return the Personal 223 Property, vacate the Real Property and reconvey the Property to Seller by special warranty deed and bill of sale, and (4) if Buyer fails to make timely demand 224 for refund, Buyer shall take tale as is, waiving all nghts against Seller as to any intervening defect except as may be available to Buyer by virtue of war- 225 rentros contained in the deed or bffl of sere 228 O. ESCROW: Pi y Closing Agent or escrow agent (collectively "Agent') receiving funds cr equivalent is authonzed and agrees by acceptance of then to deposit 227 them promptly, hold same in escrow and, subject to olearanee, disburse them in accordance with terms and conditions of this Contact Failure of funds to 228 clear shall not excuse Buyer's perlormance II in doubt as to Agent's duties or irabitthes under the provisions of this Contract, Agent may, at Agents option, con- 229 trrtue to hold the subject matter of the escrow until the palms hereto agree to as disbursement or until a judgment of a court of competent jurisdiction shall 230 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute An attorney who represents 231 a party and also acts as Agent may represent such party in such action Upon notifying all parties concerned of such action, all liability on the part of Agent 232 shall fully temnnate, except to the extent of accounting for any items previously delivered out of escrow If a licensed real estate broker, Agent will comply with 233 provisions of Chapter 475, FS , as amended My suit between Buyer and Seler wherein Agent is made a party because of acting as Agent hereunder, or in 234 airy suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attomaye fees and costs incurred with these amounts to 235 be paid from and out of the escrowed funds or equivalent and charged and awarded as Court costs in favor of the pre/Wing party The Agent shall not be table 236 to any party or person for mrsdelivery to Buyer or Seller of items subect to the escrow, unless such misdelivery is due to willful breech of the provisions of this 237 Contract or gross negligence of Agent 238 R, AT•TORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such lit• 239 gation, which, for purposes of this AS IS" Standard, shell include Seller, Buyer and any brokers acting in agency or nonagency relationships authonxed by 240 Chapter 476, F S , 8s amended, shall be entitled to recover from the non-pm/Ming party reasonable attorney's fees, costs and expenses 241 8. FAILURE OF PERFORMANCE: If Buyer fads to perform this Contract within the hrne specified, including payment of all deposits, the deposit(sj pail by 242 Euyer and deposit(s) agreed to be paid, may be recovered end retained by and for the account Of Seller as agreed upon liquidated damages, consideration for 243 the execution of this Contract and in full settlement of any charms, whereupon, Buyer and Seller shall be relieved of all obligations under this Contract, or Seller, 244 at Setter's option, may proceed in equity to enforce Sellers nghts under this Contract If for any reason other than failure of Seller to make Seller's title mar- 245 kettle after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specific performance or eiact to receive the return of Buyer's 248 deposits) without thereby waMrg any action for damages resulting from Seller's breach 247 T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Conirect nor any notice of it shall be recorded in any public records 248 This Contract shall bind and inure to the benefit of the parties and their successors in tntetest Whenever the context penes, singular shall include plural and 249 one gender shell include alt Notice and delrverygiven by or to the attorney or broker representing any party shall be as effective 88 if given by or to that party 260 All notices must be in writing and may be made by mail, personal delivery or electronic media A legible facsimile or electrons (including "pat') copy of ibis 251 Contract and any signatures hereon shall be considered for all purposes as an onginal 252 U. CONVEYANCE: Seler shay convoy marketable title to the Real Properly by statutory warranty, tasters, personal represontativet, or guardian deed, as 253 appropriate to the status of Seller, subject only to matters contained in Paragraph VII and those otherwise accepted by Buyer Personal Property shall, at the 254 request of Buyerbe transferred by an absolute bill of sale with warranty of tale, subject only to such matters as may be otherwise provided for herein 255 V. OTHER AGREEMENTS: No pnor or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract No mod- 256 ification to or change in thus Contract shall be valid or banding upon the parties unless in venting and executed by the padres intended to be bound by rl 257258 which have not been disclosed to Buyer, (2) Seller extends and intends no warranty and makes no re er express orimplied, 259 as to the physical condition or history of the Property; (3) Seller r :: ,w :. • al notice from any governmental entity or agency as 260 to a currently uncorrected , , ,i :, se code violation; (4) Sa ter has no knowledge of any repairs or Improvements made to the 261 • 262 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES Seller shall maintain the Properly, =hiding, 263 but not limited to lawn, shrubbery, and pool in the condition existing as of Effective Date, ordinary wear and tear and Casualty Loss excepted Seller shall, upon 264 reasonable notice, provide utilities seance and access to the Property for appraisal and inspections, tnctuding a walk-through prior to Closing, to confirm that 265 al items of Personal .Property are on the Real Property and that the Property has been maintained as required by this "AS IS Standard Seller will assign ell 268 assignable repair and treatment contracts and warranties to Buyer at Closing 267 Y. 1031 EXCHANGE: If either Seler or Buyer wish to enter into a hke-kind exchange (either simultaneous with Closing or deferred) with respect to the Property 268 under Section 1031 of the Internal Revenue Code ("Exohange"i, the other party shall cooperate in all reasonable respects to effectuate the Exchange, induct- 269 trig the execution of documents, provided (1) the cooperating early shall incur no lieixMy or expense related to the Exchange and (2) the Closing shall not be 270 contingent upon, nor extended or delayed by, such Exchange 271 Z. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted bylaw, against any real estate licensee involved 272 in the negotiation of the Contract, for any defects or other damage that may exist at Closing of the Contraat and be subsequently discovered by the 273 Buyer or anyone claiming by, through, under or against the Buyer. FAR/BAR ASIS-2x Rev 2/08 C 2008 Flonda Association of REALTORS* and The Ronda Bar Ail Rrghts Reserved i age 5 of 5 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE (THE "AGREEMENT") BY AND BETWEEN 920 AND FROW, LLC, A FLORIDA LIMITED LIABILITY COMPANY AND SOUTHEAST OVERTOWN/PARKWEST COMMUNITY REDEVELOPMENT AGENCY THIS ADDENDUM is made and entered into as of the 19 day of March, 2012, by and between 920 AND PROW, LLC, A FLORIDA LIMITED LIABILITY COMPANY (the "Seller") and SOUTHEAST OVERTOWN/PARKWEST COMMUNITY REDEVELOPMENT AGENCY (the "Buyer"). 1. Inspection. A. Seller grants to Buyer and its agents, as well as contractors employed by or hired by Buyer, the right to enter the Property during normal business hours to do and perform such reasonable acts and things as Buyer deems necessary or appropriate, to make soil tests, borings, engineering studies, environmental tests, surveys and conduct any other tests and studies that Buyer deems appropriate. Buyer agrees to repair or restore promptly any damage to the Property caused by Buyer, its agents and contractors and restore same to its original condition. Buyer agrees to pay for all such work, labor and services that shall be performed and to obtain waivers of lien or paid bills therefore and shall indemnify and hold Seller harmless from any claims of any such persons. This provision shall survive the termination of the Agreement. B. Buyer shall have thirty (30) days from the Effective Date (the "Inspection Period") to inspect any and all natters concerning the Property which Buyer, in Buyer's sole discretion, deems significant, including, without imitation environmental matters, the condition of the improvements, soil conditions, ingress and egress, utilities and obtain an appraisal of the Property. In the event that Buyer is not satisfied with the condition of the Property, in Buyer's sole discretion, for any reason on or prior to the expiration of the Inspection Period, buyer shall have the option of either: (i) waiving the condition and Closing in accordance with the terms of the Agreement without reduction in the purchase price, or (ii) canceling the Agreement by written notice to Seller given on or prior to the end of the Inspection Period, in which event the Escrow Agent shall return the Deposit to Buyer, whereupon the parties shall be released from any further obligations under the Agreement except for those obligations contained in Section 1(A). C. Except as otherwise expressly provided herein, upon the expiration of the Inspection Period, Buyer shall be deemed to have accepted the Property in its present condition and shall be deemed to represent to Seller that it has concluded whatever studies, tests and investigations Buyer desires relating to the Property and the sale shall proceed' on an "AS IS" condition, except with respect to such warranties and representations set forth in this Agreement. D, Buyer and Seller agree that the Property is being sold in "AS IS" "WHERE IS" and "WITH ALL FAULTS" condition. Buyer acknowledges and agrees that: "(i) it is purchasing the Property on an "AS IS" basis based on its own independent investigation thereof; (ii) that, except as expressly set forth in this Agreement, Seller has not made any warranties, representations or guaranties, expressed, implied or statutory, written or oral, including but not limited to, any implied warranty of merchantability or fitness for any use or purpose, concerning the Property; and (iii) that Seller has not made any such warranties, representations or guaranties with regard to any governmental limitation or restriction, or the absence thereof, pertaining to the Property, or with regard to the physical condition of the Property, including latent defects, environmental conditions or subsurface sail conditions. Except as otherwise expressly provided herein, Buyer agrees that the entire risk as to the quality and performance of the Property is with the Buyer. Except as otherwise expressly provided herein, should the Property prove defective, in any manner, Buyer and not Seller, assumes the entire cost of all necessary repairs of such defects. Except as otherwise expressly provided herein, Seller makes no representations or warranties as to any land use controls or other laws, rules, and regulations of any governmental agency having jurisdiction applicable to the Property. E. Except as required by applicable law, Buyer acknowledges and agrees that Seller shall be under no duty to make any affirmative disclosure regarding any matter which may be known to Seller or its officers, directors, contractors, agents or employees, and that it is relying solely upon its own Inspections of the Property and not upon any representations made to it by any person whomsoever. Buyer agrees that there is no obligation on the part of Seller to make any changes, alterations, or repair to the Property, Buyer agrees and acknowledges that Buyer's obligations under this Agreement shall remain in full force and effect with Buyer having no right to delay the Closing or terminate this Agreement regardless of any facts or information learned by Buyer after the expiration of the Inspection Period, except as otherwise provided in this Agreement. F. Seller has not made and does not make in or by this Agreement any representation or warranty about the truth, reliability, accuracy, completeness, or enforceability of any materials, reports and other information about the Property given to Buyer, if .any, prepared by any person or about the qualifications or expertise of any such person, and Buyer has not relied, and is not relying, upon Seller with respect to any such materials, reports and other information which may have been provided by or on behalf of Seller or otherwise, 2. Board Approval. Buyer shall have until December 1, 2012 to obtain approval from the Board of Commissioners of the Buyer ("Board Approval") to the transaction contemplated by the Agreement. If Board Approval is not obtained by December 1, 2012 the Agreement shall be of no further force and effect and Escrow Agent shall return the Deposit to the Buyer. 3. Tenants. Seller shall delivery the Property to Buyer at Closing, free and clear of all tenancies. 4. Brokers. Buyer and Seller each represent and warrant to the other that no real estate brokers, salesmen or finders are involved in this transaction other than Keller Williams, 11420 N. Kendall Drive, Suite 207, Miami, FL 33176 (305-636-5000) (the "Broker") on behalf of the Seller. Seller shall pay the Broker pursuant to the terms of a separate agreement. If a claim for brokerage in connection with this transaction is made by any broker, salesman or finder claiming to have dealt through or on behalf of Buyer, Buyer shall indemnify, defend and hold 2 Seller and its officers, directors, agents and representatives and any of the brokers, harmless from all liabilities, damages, claims, costs, fees and expenses whatsoever (including reasonable attorneys' fees and court costs) with respect to said claim for brokerage. If a claim for brokerage in connection with this transaction is made by any broker, salesman or finder claiming to have dealt through or on behalf of Seller (other than the above named Broker), Seller shall indemnify, defend and hold Buyer and its officers, directors, agents and representatives and any of the brokers, harmless from all liabilities, damages, claims, costs, fees and expenses whatsoever (including reasonable attorneys' fees and court costs) with respect to said claim for brokerage. This provision shall survive the termination of this Agreement. 5. Escrow Agent. The Deposit shall be held by the Escrow Agent, in trust on the terms hereinafter set forth: 5.1. If the Closing takes place under this Agreement, the Escrow Agent shall deliver the Deposit thereon to Seller. 5.2. Subject to the provisions of Section 5.4 below, if the Agreement is terminated in accordance with the terms hereof or if the Closing does not take place under this Agreement by reason of the failure of either party to comply with its obligations hereunder, the Escrow Agent shall deliver the Deposit to the party entitled thereto in accordance with the provisions of the Agreement. 5.3. It is agreed that the duties of the Escrow Agent are only as herein specifically provided and purely ministerial in nature, and the Escrow Agent shall incur no liability whatever except for willful misconduct or gross negligence, as long as the Escrow Agent has acted in good faith. The Seller and Buyer each release the Escrow Agent from any act done or omitted to be done by the Escrow Agent in good faith in the performance of its duties hereunder, 5.4. The Escrow Agent is acting as stakeholder only with respect to the Deposit and the cash to close. If there is any valid dispute as to whether the Escrow Agent is obligated to deliver the Deposit or the cash to close or as to whom the Deposit or cash to close is to be delivered, the Escrow Agent shall not make any delivery, but in such event, the Escrow Agent shall hold same until receipt by it of an authorization in writing, signed by all parties having interest in such dispute, directing the disposition of same; or in the absence of such authorization, the Escrow Agent shall hold the Deposit and/or the cash to close until final determination of the rights of the parties in the appropriate proceedings. If such written authorization is not given or proceedings for such determination are not begun within thirty (30) days of the Closing date and diligently continued, the Escrow Agent may bring an appropriate action or proceeding to interplead the Deposit. Upon making delivery of the Deposit and/or the cash to close, the Escrow Agent shall have no further liability unless such delivery constituted willful misconduct or gross negligence. Buyer acknowledges that the Escrow Agent is counsel to Seller and can represent Seller hereunder in the event of any dispute hereunder, concerning the Deposit and/or the cash to dose or otherwise, and Buyer waives any right to object to same. 6. Default. 3 A. If Buyer, in breach of provisions of the Agreement, fails to conclude the transaction described herein, or otherwise fails to comply with any of the requirements on the part of the Buyer to be performed hereunder, and Seller is capable of performing hereunder, Seller may retain the Deposit as agreed upon and as liquidated damages as the result of such breach by the Buyer, whereupon the parties shall be released and relieved of all other and further obligations or liabilities hereunder except for the liabilities under Section 1(A) of this Addendum. It is agreed by the parties that such amount being paid to Seller is a fair and reasonable measure of the damages which will be suffered by Seller in the event of such default, the parties recognizing that Seller will, in such event, have relinquished potential offers from other parties to purchase the property, the parties recognizing that such occurrences cannot be subject to the ascertainment of any exact amount of damages. Said liquidated and agreed upon damages are, however, bona fide provisions for such and are not a penalty, B. if Seller defaults in the performance of its obligations under the Agreement, Buyer may elect to receive the return of the Deposit or, in the alternative, seek specific performance of the Agreement, Buyer, at Buyer's option and in Buyer's sole discretion, may waive any default by Seller and close pursuant to the Agreement. 7. Adjustments and Prorations. The following items shall be prorated and adjusted as of Midnight of the day prior to the Closing Date or as otherwise provided herein: A. Real Estate taxes and assessments shall not be prorated and Buyer shall accept title to the Property subject to outstanding real estate taxes and City of Miami code enforcement liens. B. Seller shall be entitled to the return of all utility deposits and other deposits with respect to the Property. Telephone, electric, gas, water charges and sewer charges shall not be adjusted. Seller shall make arrangements for final bills to be obtained from the applicable utility companies involved as of the Closing Date and Seller shall be responsible for all such bills. Buyer shall be responsible for making arrangements with all applicable utilities in connection with providing telephone, electric, gas, water and sewer services from and after the Closing, including without limitation paying all necessary deposits. Seller and Buyer shall coordinate their actions under this paragraph so that services provided to tenants are not disrupted. C. Seller shall pay the State Documentary Stamps and the Surtax, if any, which is required to be affixed to the Deed and the cost to record any corrective documents. The cost of recording the Deed, the cost for the Survey, and the cost for the Owner's Title Policy shall be paid by Buyer. Each party shall bear the cost of the fees of their own respective attorneys and other professionals and the cost of their own respective performance under the Contract. D. All insurance policies with respect to the Property shall be cancelled on the Closing Date and not prorated. E. Seller shall deliver to Buyer all keys and building plans in Seller's possession, if any. Possession of the Property shall be given to Buyer at Closing. 8. Effective Date. The Effective Date of the Contract will be the date that Seller executes this Agreement and provides Buyer with the fully executed Agreement. 4 did ( 9. Closing Date. The Closing Date shall occur ten (10) business days after the end of the Inspection Period, time being of the essence. 10. Notice. All notices, consents, approvals, waivers and elections which any party shall be required or shall desire to finale or give under the Contract shall be in writing and shall be sufficiently made when hand -delivered, telecopied, or mailed by certified mail/return receipt requested with proper postage affixed, addressed: As to Seller: With a copy to: As to Buyer: With a copy to: 920 AND PROW, LLC 13320 SW 128 Street Miami, FL 33186 Fax: ze).3 'a 3.'S", 73 B'7 A-Z %cletvGCry-U Coilia �1= sz i-s c or7 tase rlr rc- gat gt .2t46..4geze.?3.s/ Southeast Overtown/Park West Community Redevelopment Agency 1490 NW 3`1 Avenue, Suite 105 Miami, FL 33132 Attention: Clarence E. Woods 111, Executive Director Fax: 305-679-6836 William R. Bloom, Esq. Holland & Knight LLP 701 Brickell Avenue, Suite 3000 Miami, FL 33131 Fax: 305-789-7799 As to Escrow Agent: William R. Bloom, Esq. Holland & Knight LLP 701 Brickell Avenue, Suite 3000 Miami, FL 33131 Fax: 305-789-7799 Or to such other address as any party hereto shall designate by like notice given to the other parties hereto. Notices, consents, approvals, waivers and elections given or made as aforesaid shall be deemed to have been given or received when hand -delivered, upon receipt of a telecopy, upon receipt or on the date delivery is refused if mailed certified mail/return receipt requested. 11. Ratification. Except as herein modified, Buyer and Seller hereby ratify and reaffirm all the terms and provisions of the Agreement. To the extent of a conflict between the terms and provisions of the Agreement and this Addendum, the terms and provisions of this Addendum shall control. 5 (z) 12. Counterparts. This Addendum may be executed in counterparts by the parties hereto and each shall be considered an original insofar as the parties are concerned by together said counterparts shall comprise only one agreement. IN WITNESS WHEREOF, Seller and Buyer have caused this Addendum to be executed on the date first above written. SELLER: 920 AND FROW, LLC, a Florida limited liability company ervices rp., its rn. ager By: Name: Title: Date Executed:///t3// BUYER: SOUTHEAST OVERTOWN/PARKWEST COMMUNITY REDEVELOPMENT A r NCY By nce E. Woods III, Executive Director Date Executed: // 6 # 1 1786I31_V2 df,c) Miami -Dade My Home Page 1 of 2 My Home t+t %adaago Show Me: Property Information Search By: Select Item • Text only Property Appraiser Tax Estimator Property Appraiser Tax Comparison Summary Details: Folio No.: 401-0102-060-1100 . Property: 930 NW 2 AVE Mailing 216 NW 9TH ST INC Address: 801 BRICKELL KEY BLVD #1109 MIAMI FL 33136-3423 Property Information: Primary Zone: 6100 COMMERCIAL - NEIGHBORHOOD CLUC: 0081 VACANT LAND Beds/Baths: 0/0 Floors: 0 Living Units: 0 Adj Sq Footage: 0 Lot Size: 2,750 SQ FT Yea_r Built: 0 P W WHITES RESUB OF BLK 26 NORTH PB B-34 Legal LOT 17 LOT SIZE 25.000 Description: X 110 OR 20700-1317 0902 4 CDC 25632-4711 05 2007 1 Assessment Information: Year: 2012 2011 Land Value: $60,500 $60,500 Building Value: $0 $0 Market Value: $60,500 $60,500 Assessed Value: $60,500 $60,500 Taxable Value Information: Year: 2012 2011 Applied Applied Taxing Authority: Exemptlenr ExemptIenl Value: Value; Regional: $0460,500 $0/$60,500 County: $01$60,500 $01$60,500 City: 501560,500 501560,500 School Board: $0/$60,500 30/$60,500 Sale Information: ACTIVE TOOL: SELECT Sale Dale: /512007 Sale Amount: $96,250 Sale OIR: 25632-4711 Sales Qualification Sales which are qualified Description: View Additional Sales Additional Information: Click here to see more information for this property: Community Development District Community Redevelopment Area Emnowerment Zone Aerial Photography - 2012 el 0 110 ft My Home I Property Information I Property Taxes MY Neighborhood I Property Appraiser Horne I Using Our Site I Phone Directory I Privacy I Disclaimer If you experience technical difficulties with the Property Information application, or wish to send us your comments, questions or suggestions please email us at Webmaster. Web Site 2002 Mlaml-Dade County. All rights reserved. Legend Property led Boundary del Selected Property 1 Street ,// Highway PA Mlaml-Dada County ■ Water W4IME 5 http://gisims2.miamidade.gov/myhome/propmap.asp 11/20/2012 Miami -Dade My Home Page 1 of 2 My Home laif111 adiekgo Show Me: Property Information Search By: Select Item E1 Text only j I+ Property Appraiser Tax Estimator la Property Appraiser Tax Comparison Summary Details: Folio No.: 01-0102-060-1090 Property; 934 NW 2 AVE Mailing 216 NW 9TH STREET INC Address: 801 BRICKELL KEY BLVD #1109 MIAMI FL 33131- Property Information: Primary Zone: 6100 COMMERCIAL - NEIGHBORHOOD CLUC: 0061 VACANT LAND Beds/Baths: 0/0 Floors: 0 Living Units: 0 AdJ Sq Footage: 0 Lot Size: 2,750 SQ FT Year Built: 0 P W WHITES RESUB OF BLK 26 NORTH PB B-34 Legal LOT 16 LOT SIZE 25,000 Description: X 110 25632-4842 05 20071 OR 25632-4842 0507 01 Assessment Information: Year: 2012 2011 Land Value: $60,500 $60,500 Building Value: $0 $0 Market Value: $60,500 $60,500 Assessed Value: $60,500 $60,500 Taxable Value Information: Year: 2012 2011 Applied Applied Taxing Authority: Exemption/ Exemption/ Taxable Taxable Value: Value: Regional: $0l$60,500 $0/$60,500 County: 30/$60,500 $0/660,500 City: 30460,500 $0/$60,500 School Board: $01$60,500 60/360,500 Sale Information: Sale Date: 5/2007 Sale Amount: 396,300 Sale OIR: 25632-4842 Sales Quallflcatlon Sales which are qualified Description: View Additional Sales Additional Information: Click here to see more Information for this property: Community Development District Community Redevelopment Area Empowerment Zone ACTIVE TOOL: SELECT Aerial Photography - 2012 0 110ft My Home I Property Information I Property Taxes My Neighborhood I Property Appraiser Horne I Using Our Site 1 Phone Directory I Privacy l Disclaimer If you experience technical difficulties with the Property Information application, or wish to send us your comments, questions or suggestions please email us at Webmaster, Web Site ® 2002 Miami -Dade County. All rights reserved. Legend Property edf Boundary Selected Property 111 Street 1 Highway Mta m l-Dade County Water http://gisims2.miamidade.goy/myhome/propmap.asp 11 /7.n/71117 Miami -Dade My Home Page 1 of 2 My Home t3ian idadcigo Show Me: Property Information Search By: Select Item • El Text only Itrr� Property Appraiser Tax Estimator Property Appraiser Tax Comparison Folio No.: Property: Summa!y Details: 91-0102-060-1020 226 NW 10 ST Mailing Address: 216 NW 9TH ST INC 801 BRICKELL KEY BLVD #1109 MIAMI FL 33131- Property Information: Primary Zone: 5000 HOTELS & MOTELS -GENERAL CLUC: 0081 VACANT LAND Beds/Baths: 010 Floors: 0 Living Units: 0 Adj Sq Footago: 0 Lot Size: 4,127.25 SO FT Year Built: 0 P W WHITES RESUB OF BLK 26 NORTH PH B-34 Legal E55.03FT OF LOTS 2 & Description: 7 & 10 LOT SIZE 55.03 X 75 OR 21118-3530 03 2003 3 OR 27908-2838 0911 11 Assessment Information; Year: 2012 2011 Land Value: $41,268 $14,766 Building Value: $0 $0 Market Value: $41,268 $14,766 Assessed Value: $41,268 $14,768 Taxable Value Information: ACTIVE TOOL: SELECT Year: 2012 2011 Applied Applied Taxing Authority: ExT xablenl ETexahle tion1 Value: Value: Regional: $01$41,268 $0/$14,766 County: $01$41,268 $01$14,766 City: $0/$41,268 $01$14,766 School Board: '$01$41,268 $01$14,766 Sale Information: Sale Amount: Sale o1R: 27908-2838 Corrective deed, quit taim deed, or tax deed; Deed bearing Florida Documentary Stamp at he minimum rate Sates prescribed under Chapter Qualification 201, F.S,; Transfer of Description: ownership where no doc stamps were paid; or, renafer of nwnerehln by Aerial Photography - 2012 0 110ft My Home I Property Information I property Taxes My Neighborhood { Property Appraiser Home I Using Our Site I Phone Directory I Privacy I Disclaimer If you experience technical difficulties with the Property Information application, or wish to send us your comments, questions or suggestions please email us at Wobmaster. Web Site 02002 Miami -Dade County, All rights reserved. Legend Property iired Boundary Selected aird Property drd Street ,/ Highway Miami -Dade County Water W+ http://gisims2.miamidade.govlmyhomelpropmap.asp 11/20/2012 DOCUMENTATION THIS FORM HAS BEEN APPROVED BY THE FLORIDALTORSm AND THE FLORIDA BAR "As Is" Contract For Sale And Purchase FLORIDA ASSOCAT1ON OF REALTORS' AND THE FLORIDA BAR "As Is" 1* PARTIES: 216 NW 9th Street, inc., a Florida corporation ("Seller"), 2* and Southeast Overtown/Park West Community Redevelopment Agency ("Buyer"), 3 hereby agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively ' Property") 4 pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract') 5 I. DESCRIPTION: 6* (a) Legal description of the Real Property located in Mrami-Dade 7* 8* (b) Street address, city, zip, of the Property 9 (c) Personal Property includes existing range(s), refngerator(s), dishwasher(s), ceiling tan(s), light fixture(s), and window treatment(s) unless 10 specifically excluded below 11* Other items included are 12* 13* Items of Personal Property (and leased items, if any) excluded are 14* County, Florida see addendum 15* II. PURCHASE PRICE (U S currency) 16 PAYMENT $ _ $50.0Q0.0Q 17* (a) Deposit held in escrow by Holland & Kniaht LLP ("Escrow Agent") in the amount of (checks subject to clearance) $ 5,000 00 18* Escrow Agents address 701 Linckell Avenue Style 3000 Miami EL 33131 Phone 305 789 7712 19* (b) Additional escrow deposit to be made to Escrow Agent within days after Effective Date in the amount of $ 20* (c) Financing in the amount of ("Loan Amount") see Paragraph N below $ 21* (d) Other $ 22 (e) Balance to close by cash, wire transfer or LOCALLY DRAWN cashier's or official bank check(s) subject 23* to adjustments or prorations $ 245n00_on 24 III. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE: 25 (a) If this offer rs not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or 26* before see addendum , the deposit(s) will, at Buyer's option, be returned and this offer withdrawn Unless other- 27 wise stated, the time for acceptance of any counteroffers shall be 2 days from the date the counteroffer is delivered. 28 (b) The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed or initialed this offer or the 29 final counteroffer If such date is not otherwise set forth in this Contract, then the "Effective Date" shall be the date determined above for 30 acceptance of this offer or, if applicable, the final counteroffer 31 IV. FINANCING: 32* (a) This is a cash transaction with no contingencies for financing, 33* ❑ (b) This Contract is contingent on Buyer obtaining written loan commitment which confirms underwriting loan approval for a loan to purchase 34* the Property ('Loan Approval") within days (if blank, then 30 days) after Effective Date ("Loan Approval Date") for (CHECK ONLY 35* ONE) LI a taxed, 0 an adjustable, or Q a fixed or adjustable rate loan, in the Loan Amount (See Paragraph II (c)) at an initial interest tate not to 36* exceed %, and for a term of years Buyer will make application within days (if blank, then 5 days) after Effective Date 37 BUYER: Buyer shall use reasonable diligence to obtain Loan Approval, notify Seller in writing of receipt of Loan Approval by Loan Approval 38 Date, satisfy terms of the Loan Approval, and close the loan Loan Approval whrch requires a condition related to the sale of other property shall 39 not be deemed Loan Approval for purposes of this subparagraph Buyer shall pay all loan expenses Buyer authonzes the mortgage broker(s) and 40 fender(s) to disclose information regarding the condctions, status, and progress of loan application and Loan Approval to Seller, Seller's attorney, 41 real estate liconsee(s), and Closing Agent 42 SELLER: If Buyer does nal deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may thereafter cancel this Contract by 43 delivering wntten notice ("Seller's Cancellation Notice") to Buyer, but not later than seven (7) days prior to Closing Seller's Cancellation Notice shall 44 notify Buyer that Buyer has three (3) days to deliver to Seller written notice waiving this Financing contingency, or the Contract shall be cancelled 45 DEPOSIT(S) (for purposes of this Financing Paragraph IV(b) only): If Buyer has used reasonable diligence but does not obtain Loan Approval 46 by Loan Approval Date, and thereafter either party elects to cancel this Contract, the deposit(s) shall be returned to Buyer If Buyer obtains Loan 47 Approval or waives this Fnanong contingency, and thereafter the Contract does not close, then the deposit(s) shall be paid to Seller, provided how- 48 ever, if the failure to close is due to (i) Seller's failure or refusal to close or Seller otherwise fails to meet the terms of the Contract, or (l) Buyer's lender 49 fails to receive and approve an appraisal of the Property in an amount sufficient to meet the terms of the Loan Approval, then the deposit(s) shall be 50 returned to Buyer 51* >a (c) Assumption of existing mortgage (see rider for terms), or 52* U (d) Purchase money note and mortgage to Seller (see As Is" Standards B and K and riders, addenda, or special clauses for terms) 53* V. TITLE EVIDENCE: At feast ` days (if blank, then 5 days) before Closing a title insurance commitment with legrble copies of Jnstrurnents listed as 54 exceptions attached thereto ("Title Commitment") and, after Closing, an owner's policy of title insurance (see Standard A for terms) shall be obtained by 55* (CHECK ONLY ONE): ❑ (1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney, or 56* ICI (2) Buyer at Buyer's expense 57* (CHECK HERE): U if an abstract of title is to be furnished instead of title insurance, and attach rider for terms 58* VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on _see addendum ("Closing'), unless 59 modified by other provisions of this Contract In the event of extreme weather or other conditions or events constituting "force majeure' Closing will be 60 extended a reasonable time until ( restoration of utilities and other seances essential to Closing, and (ri) availability of Hazard, Wind, Rood, or Homeowners' 61* insurance If such conditions continue more than days (if blank, then 14 days) beyond Closing Date, then either party may cancel this Contract FAR/BAR ASIS-2x Rev 2/08 0 2008 Ronda Association of REALTORS10 and The Ronda Bar All Rights Reserved Page 1 of 5 62 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to comprehensive land use plans, zoning, 63 restrictions, prohibitions and other requirements imposed by governmental authority, restrictions and matters appeanng on the plat or otherwise 64 common to the subdivision, , unplatted public utility easements of record 65 (located contiguous to real property lines and not more than 10 feet in width as to the rear or front lines and 7 1/2 feet in width as to the side 66 lines), taxes for year of Closing and subsequent years, and assumed mortgages and purchase money mortgages, if any (if additional items, see 67* addendum), provided, that none prevent use of the Property for 68* purpose(s). 69 VIII. OCCUPANCY Seller shall deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein If Property is intended 70 to be rented or occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to "AS IS" Standard 71 F If occupancy rs to be delivered before Closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable 72 for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy 73 IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed pro- 74 visions of this Contract in conflict with them 75* X. ASSIGNABILITY: (CHECK ONLY ONE) Buyer 0 may assign and thereby be released from any further liability under this Contract, LI may 76* assign but not be released from liability under this Contract, or ❑ may not assign this Contract 77 XL DISCLOSURES: 78 (a) The Property may be subject to unpaid speoial assessment lien(s) imposed by a public body ("public body" does not include a 79 Condominium or Homeowners' Association) Such lien(s), if any, whether certified, confirmed end ratified, pending, or payable in installments, 80* as of Closing, shall be paid as follows ❑ by Seller at closing Q by Buyer (If left blank, then Seller at Closing). If the amount of any 81 assessment to be paid by Seller has not been finally determined as of Closing, Seller shall be charged at Closing an amount equal to the 82 last estimate or assessment for the improvement by the public body 83 (b) Radon is a naturally occurnng radioactive gas that when accumulated in a building in sufficient quantities may present health risks to per- 84 sons who are exposed to it over time Levels of radon that exceed federal and state gurdelines have been found in buildings in Florida 85 Additional information regarding radon or radon testing may be obtained from your County Public Health unit. 86 (c) Mold is naturally occumng and may cause health nsks or damage to property If Buyer is concerned or desires additional information B7 regarding mold, Buyer should contact an appropnate professional 88 (d) Buyer acknowledges receipt of the Flonde Energy -Efficiency Rating Information Brochure required by Section 553 996, FS 89 (e) If the Real Property includes pre-19713 residential housing, then a lead -based paint rider is mandatory 90 (f) If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with that Act 91 (g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIA- 92 TION/COMMUNITY DISCLOSURE. 93 (h) PROPERTY TAX DISCLOSURE SUMMARY BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY FAXES AS THE AMOUNT 94 OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE A CHANGE OF OWNER- 95 SHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OFTHE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES 96 IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION 97 XII. MAXIMUM REPAIR COSTS: DELETED 98* XIII. HOME WARRANTY: 0 Seller 0 Buyer 0 N/A wilt pay for a home warranty plan issued by 99* at a cost not to exceed $ 100* 101 which to have such inspections of the Property performed as Buyer shall desire and utilities service shall be mad: - - + e by the 102 Seller during the Inspection Period; (b) Buyer shall be responsible for prompt payment for such Ins • : - and repair of damage 103 to and restoration of the Property resulting from such Inspections and this provision - urvive termination of this Contract; 104 and (c) if Buyer determines, In Buyer's sole discretion, that the Property 1 - eptable to Buyer, Buyer may cancel this Contract 105 by delivering facsimile or written notice of such election to •ror to the expiration of the Inspection Period, If Buyer timely 106 cancels this Contract, the deposit(s) paid shai . _ - = * lately returned to Buyer; thereupon, Buyer and Seller shall be released of 107 all further obligations under this - , except as provided in this Paragraph X& Unless Buyer exercises the right to cancel 10B granted herein, Bu = = = % s the Property In its present physical condition, subject to any violation of governmental, building, 109 enviro - . , and safety codes, restrictions or requirements and shall be responsible for any and all repairs and improvements 110 .. _. . 111 XV. RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to and made part of this Contract 112* 13 CONDOMINIUM 0 VA/FHA ❑ HOMEOWNERS' ASSN ❑ LEAD -BASED PANT 0 COASTAL CONSTRUCTION CONTROL LINE 113* 0 INSULATION O EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions ❑ Addenda 114* Special Clause(s) 115* 116* 117* 118* 119* 120* 121* 122* 123* 124* 125* 126 XVI. "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS IS" Standards): Buyer and Seller acknowledge receipt of a copy 127 of "AS IS" Standards A through Z on the reverse side or attached, which are incorporated as part of this Contract. FAR/BAR ASIS-2x Rev 2/48 0 2048 Florida Association of REALTORs* and The Florida Bar All Rights Reserved Page 2 of 5 128 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, 129 SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. 130 THIS "AS 1S" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS' AND THE FLORIDA BAR, 131 Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a 132 particular transaction Terms and conditions should be negotiated based upon the respective interests, objectives and bargaining 133 positions of all interested persons 134 AN ASTERISK(*) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO BE COMPLETED Southeast Overtown/Parh West Community 216 NW 9th Street, Inc /35. Redevelopment Agency By 136 1 (DATE) NamToe e (DATE) Clarence E Woods III Executive Director 137* 138 (BUYER) (DATE) (SELLER) (DATE) 139* Buyers' address for purposes of notice Sellers' address for purposes of notice 140* 141* Phone Phone 142 BROKERS: The brokers (including cooperating brokers, if any) named below are the only brokers entitled to compensation :n connection with 143 this Contract 144* Name. see addendum N/A 145 Cooperating Brokers, if any Listing Broker FAR/BAR ASI8-2x Rev 2/08 ® 2008 Florida AssociatFon of REALTon " and The Florida Bar All Rights Reserved Page 3 of 5 146 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS 147 A. TITLE INSURANCE: The Title Commitment shall be issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer, 148 an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's marketable title to the Real Property, subject only to matters contained 149 in Paragraph VII and those to be discharged by Seiler at or before Closing Marketable title shall be determined according to applicable Title Standards adopt- 150 ed by authority of The Florida Bar and in accordance with law Buyer shall have 5 days from date of receiving the Title Commitment to examine i1, and if title is 151 found defective, notify Seller in writing specifying defect(s) which render title unmarketable Seller shall have 30 days from receipt of notice to remove the 152 defects, failing which Buyer shall, within 5 days after expiration of the 30 day penod, deliver wntten notice to Seller either (1) extending the time for a reason- 153 able period not to exceed 120 days within which Seller shall use diligent effort to remove the defects, or (2) requesting a refund of deposits) paid which shall 154 be returned to Buyer If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as rt then is Setter shall, if title is found unmarketable, 155 use diligent effort to correct defact(s) within the time provided If, after diligent effort, Seller is unable to timely correct the defects, Buyer shall either waive the 156 defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under this Contract If Seller is to provide the Title 157 Commitment and it is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer shall have up to 5 days from date of receipt 158 to examine same in accordance with this "AS IS" Standard 159 B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage note to Seller shall provide for a 160 30 day grace period in the event of default if a first mortgage and a 15 day grace penod if a second or lesser mortgage, shall provide for nght of prepayment 161 in whole or in part without penalty, shall permit acceleration in event of transfer of the Real Property, shall require all pnor liens and encumbrances to be kept 162 in good standing, shall forbid modifications of, or future advances under, prior mortgage(s), shall require Buyer to maintan policies of insurance containing a 163 standard, mortgagee clause covering all Improvements looated on the Real Property against fire and all perils included within the term "extended coverage 164 endorsements" and such other risks and perils as Seller may reasonably require, in an amount equal to their highest insurable value, and the mortgage, note 165 and security agreement shall be otherwise rri form and content required by Seller, but Seller may only require clauses and coverage customarily found in mort- 166 gages, mortgage notes and secunty agreements generally utilized by savings and loan institutions or state or national banks looated n the county wherein the 167 Real Property is located All Persona! Property and leases being conveyed or assigned will, at Seller's option, be subject to the lien of a secunty agreement evi- 168 dented by recorded or filed financing statements or certificates of title if a balloon mortgage, the final payment will exceed the periodic payments thereon 169 C. SURVEY Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have the Real Property surveyed and certr- 170 fled by a registered Ronda surveyor If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback 171 lines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a tree defect 172 D. WOOD DESTROYING ORGANISMS: DELETED 173 E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as described 174 in Paragraph VII hereof and title to the Real Property is insurable in accordance with "AS IS" Standard A without exception for lack of legal right of access 175 + G •. r:. _ :. ... . . .. rv,...,..._ 176 and duration of the tenant's occupancy, rental rates, advanced rent and security deposits paid by tenant If :. .... etter from each ten- 177 ant, the same information shall be furnished by Seller to Buyer with + _ .• - : orm o a Seller's affidavit, and Buyer may thereafter contact ten- 178 ant to confirm such inform- . es -r rnatenaliy from Seller's representations, Buyer may terminate this Contract by delivering written 179 -. �nr•,raw5a._ .. 180 G. LIENS: Seller shall furnish to Buyer at time of Closng an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statement, 181 claims of hen or potential honors known to Seller and further attesting that there have been no improvements or repairs to the Real Property for 90 days imme- 182 diately preceding date of Closing If the Real Property has been improved or repaired within that time, Seller shall deliver releases or waivers of construction 183 liens executed by all general contractors, subcontractors, suppliers and matenalmen in addition to Seller's lien affidavit setting forth the names of ail suoh gen- 184 eral contractors, subcontractors, suppliers and matenalmen, further affirming that all charges for improvements or repairs which could serve as a basis for a 185 construction lien or a claim for damages have been paid or will be pad at the Closing of this Contract 186 H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real Property is looated al the office of the attorney or other closing agent ("Closing 187 Agent') designated by the party paying for title insurance, or, if no title insurance, designated by Seller 188 i. TIME: Calendar days shall be used in computing time periods except periods of less than six (6) days, in which event Saturdays, Sundays and state or nation- 189 al legal holidays shall be excluded Any time periods provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5 00 p m of the 190 next business day Time is of the essence in this Contract. 191 J. CLOSING DOCUMENTS: Seller shall furnish the deed, bill of safe, certificate of title, construction hen affidavit, owner's possession affidavit, aoorgnmcnto of too 192 Buyer shall furnish mortgage, mortgage note, secunty agreement and financing statements 193 K. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by Seller All costs of Buyer's loan (whether obtained 194 from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, 195 mortgagee tele insurance commitment with related fees, and recording of purchase money mortgage, deed and financing statements shall be paid by Buyer 196 Unless otherwise provided by law or rider to this Contract, charges for related closing services, title search, and closing fees (including preparation of closing 197 statement), shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph V 198 L. PRORATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day before Closing 199 Buyer shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated Cash at Closing shall be 200 increased or decreased as may be required by proratrons to be made through day prior to Ciosrng, or occupancy, of occupancy occurs before Closing Advance 201 rent and security deposits will be credited to Buyer Escrow deposits held by mortgagee will be credited to Seller Taxes shall be prorated based on the current 202 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions If Closing occurs at a date when the current year's mill- 203 age is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage If currant year's assess- 204 ment is not available, then taxes will be prorated on prior year's tax If there are completed improvements on the Real Property by January let of year of Closing, 205 which improvements were not in existence on January lit of prior year; then taxes shall be prorated based upon prior year's millage and at an equitable assess- 206 merit to be agreed upon between the parties, failing which, request shall be made to the County Property Appraiser for an informal assessment teleng into 207 account avertable exemptions A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of current year's tax bill 208 M. (RESERVED - purposely left blank) 209 N. INSPECTION AND REPAIR: DELETED 210 0. RISK OF LOSS: tf, after the Effective Date, the Property is damaged by fire or other casualty ("Casualty Loss') before Closing and cost of restoration (which 211 shall include the cost of pruning or removing damaged trees) does not exceed 1 5% of the Purchase Price, cost of restoration shall be an obligation of Seller and 212 Closing shall proceed pursuant to the terms of this Contract, and if restoration is not completed as of Closing, restoration costs will be escrowed at Closing If 213 the cost of restoration exceeds 1 5% of the Purchase Pnce, Buyer shall either take the Property as is, together with the 1 5% or receive a refund of depesd(s) 214 thereby releasing Buyer and Seller from all further obligations under this Contract Sellers sole obligation with respect to tree damage by casualty or other natu- 215 ral occurrence shall be the cost of pruning or removal 216 P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds If the title agent insures adverse matters pursuant to Section 627 7841, 217 F S , as amended, the escrow and closing procedure required by this 'AS IS" Standard shall be waived Unless waived as set forth above the following FAR/BAR ASIS-2x Rev 2/08 i 2008 Ronda Association of REACTORS and The Ronda Bar All Rights Reserved Page 4 of 5 218 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 219 closing procedures shall apply (1) all closing proceeds shall be held in escrow by the Closing Agent for a period of not more than 6 days after Closing, (2) 220 if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller m writing of the defeot and Seller shall 221 have 30 days from date of receipt of such notification to cure the defect, (3) if Seller fails to timely cure the defect, all deposits and closing funds shall, upon 222 written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall return the Personal 223 Property, vacate the Real Property and reconvoy the Property to Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand 224 for refund, Buyer shall take title as is, waiving all rights aganst Seller as to any intervening defect except as may be available to Buyer by virtue of war- 225 rarities contained in the deed or bill of sale 226 0. ESCROW: Any Closing Agent or escrow agent (colleotively "Agent") receiving funds or equivalent is authorized and agrees by acceptance of them to deposit 227 them promptly, hold same in escrow and, subject to clearance, disburse them in accordance with terms and conditrons of this Contract Failure of funds to 228 clear shall not excuse Buyer's performance If in doubt as to Agent's duties or lrabditres under the provisions of this Contract, Agent may, at Agent's option, con- 229 tinue to hold the subject matter of the escrow until the parties hereto agree to its disbursement or until a judgment of a court of competent jurisdiction shall 230 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute An attorney who represents 231 a party and also acts as Agent may represent such party in such action Upon notifying all parties concerned of such action, all liability on the part of Agent 232 shall fully terminate, except to the extent of accounting for any items previously delivered out of esorow If a licensed real estate broker, Agent will comply with 233 provisions of Chapter 475, F S , as amended Any suit between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, or in 234 any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorneys fees and costs incurred with these amounts to 235 be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party The Agent shall not be liable 236 to any party or person for misdelivery to Buyer or Seller of items subject to the escrow, unless such misdelrvery is due to willful breach of the provisions of this 237 Contract or gross negligence of Agent 238 R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litr- 239 gation, which, far purposes of this "AS IS" Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authonzed by 240 Chapter 475, FS , as amended, shall be entitled to recover from the non -prevailing party reasonable attorneys fees, costs and expenses 241 S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposlt(s) paid by 242 Buyer and deposit(s) agreed to be paid, may be recovered and returned by and for the account of Seller as agreed upon liquidated damages, consideration for 243 the exec utien of this Contract and in full settlement of any claims, whereupon, Buyer and Seller shall be relieved of all obligations under this Contract, or Seller, 244 at Sellers option, may proceed in equity to enforce Sellers rights under this Contract If for any reason other than failuns of Seller to make Sellers title mar- 245 ketabls after diligent effort, Seller fads, neglects or refuses to perform this Contract, Buyer may seek specific performance or elect to receive the return of Buyer's 246 deposit(s) without thereby waiving any action for damages resulting from Seller's breach 247 T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any notice of it shall be recorded in any public records 248 This Contract shall bind and inure to the benefit of the parties and their successors in interest Whenever the context permits, singular shall include plural and 249 one gender shall include all Notice and delivery given by or to the attorney or broker representing any party shall be as effective as If given by or to that party 250 All notices must be in wntrng and may be made by marl, personal delivery or electronic media A legible facsimile or electronic (including "pdf") copy of this 251 Contract and any signatures hereon shall be considered for all purposes as an original 252 U. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustees, personal representatives, or guardian's deed, as 253 appropriate to the status of Seller, subject only to matters contained in Paragraph VII and those otherwise accepted by Buyer Personal Property shall, at the 254 request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein 255 V. OTHER AGREEMENTS: No pnor or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract No mod- 256 location to or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the parties intended to be bound by 1 257 . - • .: . .. .. .. , .. 258 which have not been disclosed to Buyer, (2) Seller extends and intends no warranty and makes no re• re . = • • . er express or implied, 259 as to the physical condition or history of the Property; (3) Se!! _ n or verbal notice from any governmental entity or agency as 260 to a currently unoorrecte, . • • • = • - or safety code violation; (4) Seller has no knowledge of any repairs or improvements made to the 281 Gir hq.a rnA a5ewu yrr. 262 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES Seller shall mantarn the Property, including, 263 but not limited to lawn, shrubbery, and pool in the condition existing as of Effective Date, ordinary wear and tear and Casualty Loss excepted Seiler shall, upon 264 reasonable notice, provide utilities service and access to the Property for appraisal and inspections, including a walk-through pnor to Closing, to confirm that 265 all items of Personal Property are on the Real Property and that the Property has been maintained as required by this "AS 1S" Standard Seller will assign all 266 assignable repair and treatment contracts and warranties to Buyer at Closing 267 Y. 1031 EXCHANGE: If either Setter or Buyer wish to enter into a like -kind exchange (either simultaneous with Closing or deferred) with respect to the Property 268 under Section 1031 of the Internal Revenue Code ("Exchange), the other party shall cooperate in all reasonable respects to effectuate the Exchange, includ- 269 rig the execution of documents, provided (1) the cooperating party shall incur no liability or expense related to the Exchange and (2) the Closing shall not be 270 contingent upon, nor extended or delayed by, such Exchange 271 Z, BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by law, against any real estate licensee involved 272 rn the negotiation of the Contract, for any defects or other damage that may exist at Closing of the Contract and be subsequently discovered by the 273 Buyer or anyone claiming by, through, under or against the Buyer. FAR/BAR ASIS-2x Rev 2/08 © 2008 Ronda Association of REALTaRS* and The Florida Bar All Rights Reserved Page 5 of 6 SUPPORTING DOCUMENTATION ADDENDUM TO CONTRACT FOR SALE AND PURCHASE (THE "AGREEMENT") BY AND BETWEEN 216 NW 9T11 STREET, INC., A FLORIDA CORPORATION AND SOUTHEAST OVERTOWN/PARKWEST COMMUNITY REDEVELOPMENT AGENCY THIS ADDENDUM is made and entered into as of the 19 day of March, 2012, by and between 216 NW 9th STREET, INC, a Florida corporation (the "Seller") and SOUTHEAST OVERTOWN/PARKWEST COMMUNITY REDEVELOPMENT AGENCY (the "Buyer"). 1. Legal Description. (a) East 55.03 feet of Lots 2, 7 and 10, Block 26 North PB "B" at Page 34. (Folio 01-0102-060-1020).4,127 square feet Address: 226 NW loth Street (b) Lot 17 Block 26 North PB "B" at Page 34 (Folio 01-0102-060- 1100) 2,750 square feet Address: 930 NW 2nd Avenue (c) Lot 16 Block 26 North PB "B" at Page 34 (Folio 01-0102-060- 1090) 2,750 square feet Address: 934 NW 2nd Avenue 2. Inspection. A. Seller grants to Buyer and its agents, as well as contractors employed by or hired by Buyer, the right to enter the Property during normal business hours to do and perform such reasonable acts and things as Buyer deems necessary or appropriate, to make soil tests, borings, engineering studies, environmental tests, surveys and conduct any other tests and studies that Buyer deems appropriate. Buyer agrees to repair or restore promptly any damage to the Property caused by Buyer, its agents and contractors and restore same to its original condition. Buyer agrees to pay for all such work, labor and services that shall be performed and to obtain waivers of lien or paid bills therefore and shall indemnify and hold Seller harmless from any claims of any such persons. This provision shall survive the termination of the Agreement. B. Buyer shall have thirty (30) days from the Effective Date (the "Inspection Period") to inspect any and all matters concerning the Property which Buyer, in Buyer's sole discretion, deems significant, including, without imitation environmental matters, the condition of the improvements, soil conditions, ingress and egress, utilities and obtain an appraisal of the Property. In the event that Buyer is not satisfied with the condition of the Property, in Buyer's sole discretion, for any reason on or prior to the expiration of the Inspection Period, Buyer shall have the option of either: (i) waiving the condition and Closing in accordance with the terms of the Agreement without reduction in the purchase price, or (ii) canceling the Agreement by written notice to Seller given on or prior to the end of the Inspection Period, in which event the Escrow Agent shall return the Deposit to Buyer, whereupon the parties shall be released from any further obligations under the Agreement except for those obligations contained in Section 1(A). C. Except as otherwise expressly provided herein, upon the expiration of the Inspection Period, Buyer shall be deemed to have accepted the Property in its present condition and shall be deemed to represent to Seller that it has concluded whatever studies, tests and investigations Buyer desires relating to the Property and the sale shall proceed on an "AS IS" condition, except with respect to such warranties and representations set forth in this Agreement. D. Buyer and Seller agree that the Property is being sold in "AS IS" "WHERE IS" and "WITH ALL FAULTS" condition. Buyer acknowledges and agrees that: "(i) it is purchasing the Property on an "AS IS" basis based on its own independent investigation thereof; (ii) that, except as expressly set forth in this Agreement, Seller has not made any warranties, representations or guaranties, expressed, implied or statutory, written or oral, including but not limited to, any implied warranty of merchantability or fitness for any use or purpose, concerning the Property; and (iii) that Seller has not made any such warranties, representations or guaranties with regard to any governmental limitation or restriction, or the absence thereof, pertaining to the Property, or with regard to the physical condition of the Property, including latent defects, environmental conditions or subsurface soil conditions. Except as otherwise expressly provided herein, Buyer agrees that the entire risk as to the quality and performance of the Property is with the Buyer. Except as otherwise expressly provided herein, should the Property prove defective, in any manner, Buyer and not Seller, assumes the entire cost of all necessary repairs of such defects. Except as otherwise expressly provided herein, Seller makes no representations or warranties as to any land use controls or other laws, rules, and regulations of any governmental agency having jurisdiction applicable to the Property. E. Except as required by applicable law, Buyer acknowledges and agrees that Seller shall be under no duty to make any affirmative disclosure regarding any matter which may be known to Seller or its officers, directors, contractors, agents or employees, and that it is relying solely upon its own Inspections of the Property and not upon any representations made to it by any person whomsoever. Buyer agrees that there is no obligation on the part of Seller to make any changes, alterations, or repair to the Property. Buyer agrees and acknowledges that Buyer's obligations under this Agreement shall remain in full force and effect with Buyer having no right to delay the Closing or terminate this Agreement regardless of any facts or information learned by Buyer after the expiration of the Inspection Period, except as otherwise provided in this Agreement. F. Seller has not made and does not make in or by this Agreement any representation or warranty about the truth, reliability, accuracy, completeness, or enforceability of any materials, reports and other information about the Property given to Buyer, if any, prepared by any person or about the qualifications or expertise of any such person, and Buyer has not relied, and is not relying, upon Seller with respect to any such materials, reports and other information which may have been provided by or on behalf of Seller or otherwise. 2 3. Board Approval. Buyer shall have until December 1, 2012 to obtain approval from the Board of Commissioners of the Buyer ("Board Approval") to the transaction contemplated by the Agreement. If Board Approval is not obtained by December 1, 2012 the Agreement shall be of no further force and effect and Escrow Agent shall return the Deposit to the Buyer. 4. Tenants. Seller shall delivery the Property to Buyer at Closing, free and clear of all tenancies. 6. Brokers. Buyer and Seller each represent and warrant to the other that no real estate brokers, salesmen or finders are involved in this transaction other than Keller Williams, 11420 N. Kendall Drive, Suite 207, Miami, FL 33176 (305-636-5000) (the "Broker") on behalf of the Seller. Seller shall pay the Broker pursuant to the terms of a separate agreement. If a claim for brokerage in connection with this transaction is made by any broker, salesman or finder claiming to have dealt through or on behalf of Buyer, Buyer shall indemnify, defend and hold Seller and its officers, directors, agents and representatives and any of the brokers, harmless from all liabilities, damages, claims, casts, fees and expenses whatsoever (including reasonable attorneys' fees and court costs) with respect to said claim for brokerage. If a claim for brokerage in connection with this transaction is made by any broker, salesman or finder claiming to have dealt through or on behalf of Seller (other than the above named Broker), Seller shall indemnify, defend and hold Buyer and its officers, directors, agents and representatives and any of the brokers, harmless from all liabilities, damages, claims, costs, fees and expenses whatsoever (including reasonable attorneys' fees and court costs) with respect to said claim for brokerage. This provision shall survive the termination of this Agreement. 6. Escrow Agent. The Deposit shall be held by the Escrow Agent, in trust on the terms hereinafter set forth: 6.1. If the Closing takes place under this Agreement, the Escrow Agent shall deliver the Deposit thereon to Seller. 6.2. Subject to the provisions of Section 5.4 below, if the Agreement is terminated in accordance with the terms hereof or if the Closing does not take place under this Agreement by reason of the failure of either party to comply with its obligations hereunder, the Escrow Agent shall deliver the Deposit to the party entitled thereto in accordance with the provisions of the Agreement. 6.3. It is agreed that the duties of the Escrow Agent are only as herein specifically provided and purely ministerial in nature, and the Escrow Agent shall incur no liability whatever except for willful misconduct or gross negligence, as long as the Escrow Agent has acted in good faith. The Seller and Buyer each release the Escrow Agent from any act done or omitted to be done by the Escrow Agent in good faith in the performance of its duties hereunder. 6.4. The Escrow Agent is acting as stakeholder only with respect to the Deposit and the cash to close. If there is any valid dispute as to whether the Escrow Agent is obligated to deliver the Deposit or the cash to close or as to whom the Deposit or cash to 3 close is to be delivered, the Escrow Agent shall not make any delivery, but in such event, the Escrow Agent shall hold same until receipt by it of an authorization in writing, signed by all parties having interest in such dispute, directing the disposition of same; or in the absence of such authorization, the Escrow Agent shall hold the Deposit and/or the cash to close until final determination of the rights of the parties in the appropriate proceedings. If such written authorization is not given or proceedings for such determination are not begun within thirty (30) days of the Closing date and diligently continued, the Escrow Agent may bring an appropriate action or proceeding to interplead the Deposit. Upon making delivery of the Deposit and/or the cash to close, the Escrow Agent shall have no further liability unless such delivery constituted willful misconduct or gross negligence. Buyer acknowledges that the Escrow Agent is counsel to Seller and can represent Seller hereunder in the event of any dispute hereunder, concerning the Deposit and/or the cash to close or otherwise, and Buyer waives any right to object to same. 7. Default. A. If Buyer, in breach of provisions of the Agreement, fails to conclude the transaction described herein, or otherwise fails to comply with any of the requirements on the part of the Buyer to be performed hereunder, and Seller is capable of performing hereunder, Seller may retain the Deposit as agreed upon and as liquidated damages as the result of such breach by the Buyer, whereupon the parties shall be released and relieved of all other and further obligations or liabilities hereunder except for the liabilities under Section 1(A) of this Addendum. It is agreed by the parties that such amount being paid to Seller is a fair and reasonable measure of the damages which will be suffered by Seller in the event of such default, the parties recognizing that Seller will, in such event, have relinquished potential offers from other parties to purchase the property, the parties recognizing that such occurrences cannot be subject to the ascertainment of any exact amount of damages. Said liquidated and agreed upon damages are, however, bona fide provisions for such and are not a penalty. B. If Seller defaults in the performance of its obligations under the Agreement, Buyer may elect to receive the return of the Deposit or, in the alternative, seek specific performance of the Agreement, Buyer, at Buyer's option and in Buyer's sole discretion, may waive any default by Seller and close pursuant to the Agreement. 8. Adjustments and Prorations. The following items shall be prorated and adjusted as of Midnight of the day prior to the Closing Date or as otherwise provided herein: A, General real estate taxes for the year of closing relating to the Property and personal property taxes, if any, for the year of closing relating to the Personal Property, if any, shall be prorated as of midnight of the day preceding the Closing Date with due allowance for the maximum discount allowed by law. Buyer and Seller agree to readjust the tax prorations when the actual charges are determined. This provision shall survive closing. B. Seller shall be entitled to the return of all utility deposits and other deposits with respect to the Property. Telephone, electric, gas, water charges and sewer charges shall not be adjusted. Seller shall make arrangements for final bills to be obtained from the applicable utility companies involved as of the Closing Date and Seller shall be responsible for all such bills. 4 Buyer shall be responsible for making arrangements with all applicable utilities in connection with providing telephone, electric, gas, water and sewer services from and after the Closing, including without limitation paying all necessary deposits. Seller and Buyer shall coordinate their actions under this paragraph so that services provided to tenants are not disrupted. C. Seller shall pay the State Documentary Stamps and the Surtax, if any, which is required to be affixed to the Deed and the cost to record any corrective documents. The cost of recording the Deed, the cost for the Survey, and the cost for the Owner's Title Policy shall be paid by Buyer. Each party shall bear the cost of the fees of their own respective attorneys and other professionals and the cost of their own respective performance under the Contract, D. Certified liens for governmental improvements as of the end of the Inspection Period, if any, shall be paid in full by Seller and pending liens for governmental improvements as of the end of the Inspection Period shall be assumed by Buyer. "Certified" for this purpose shall be deemed to mean that the improvement has been substantially completed as of the end of the Inspection Period. E. All insurance policies with respect to the Property shall be cancelled on the Closing Date and not prorated. F. Seller shall deliver to Buyer all keys and building plans in Seller's possession, if any. Possession of the Property shall be given to Buyer at Closing. 9. Effective Date. The Effective Date of the Contract will be the date that Seller executes this Agreement and provides Buyer with the fully executed Agreement. 10. Closing Date. The Closing Date shall occur ten (10) business days after the end of the Inspection Period, time being of the essence. 11. Notice. All notices, consents, approvals, waivers and elections which any party shall be required or shall desire to make or give under the Contract shall be in writing and shall be sufficiently made when hand -delivered, telecopied, or mailed by certified mail/return receipt requested with proper postage affixed, addressed: As to Seller: With a copy to: As to Buyer: 216 NW 9t' Street, Inc. 2000 South Bayshore Drive, Suite 62 Miami, FL 33133 Attention: Daniel Arias, Vice President Fax: Valoria Aris, Esq. 801 Brickell Key Blvd., Suite 1109 Miami, FL 33131 Fax: Southeast Overtown/Park West Community Redevelopment Agency 1490 NW 3rd Avenue, Suite 105 5 Miami, FL 33132 Attention: Clarence E. Woods III, Executive Director Fax: 305-679-6836 With a copy to: William R. Bloom, Esq. Holland & Knight LLP 701 Brickell Avenue, Suite 3000 Miami, FL 33131 Fax: 305-789-7799 As to Escrow Agent: William R. BIoom, Esq. Holland & Knight LLP 701 Brickell Avenue, Suite 3000 Miami, FL 33131 Fax: 305-789-7799 Or to such other address as any party hereto shall designate by like notice given to the other parties hereto. Notices, consents, approvals, waivers and elections given or made as aforesaid shall be deemed to have been given or received when hand -delivered, upon receipt of a telecopy, upon receipt or on the date delivery is refused if mailed certified mail/return receipt requested. 12. Ratification. Except as herein modified, Buyer and Seller hereby ratify and reaffirm all the terms and provisions of the Agreement. To the extent of a conflict between the terms and provisions of the Agreement and this Addendum, the terms and provisions of this Addendum shall control, 13. Counterparts. This Addendum may be executed in counterparts by the parties hereto and each shall be considered an original insofar as the parties are concerned by together said counterparts shall comprise only one agreement. IN WITNESS WHEREOF, Seller and Buyer have caused this Addendum to be executed on the date first above written. SELLER: 216 NW 9" STREET, INC., a Florida corporation By: Name: Daniel Arias, Vice President Date Executed: 6 BUYER: SOUTHEAST OVERTO WN/PARKWEST COMMUNITY REDEVELOPMENT AGENCY By: Clarence E. Woods III, Executive Director Date Executed: 7 # 11786645_V2