HomeMy WebLinkAbout25485AGREEMENT INFORMATION
AGREEMENT NUMBER
25485
NAME/TYPE OF AGREEMENT
OMNI CRA & KUSH PROPERTY, LLC
DESCRIPTION
INDEMNITY AGREEMENT/$3.1 MILLION DOLLAR
LOAN/MATTER ID: 24-2085
EFFECTIVE DATE
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
2/25/2025
DATE RECEIVED FROM ISSUING
DEPT.
2/26/2025
NOTE
DOCUSIGN AGREEMENT BY EMAIL
OLD REPUBLIC NATIONAL TITLE INSURANCE
INDEMNITY AGREEMENT
County: Miami -Dade
State: Florida
Fund File No.: 1585949
WHEREAS, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation, either
directly or through its agent, DAVID B. HENDLER, P.A. (hereinafter referred to as the "Title Agent") (collectively,
hereinafter referred to as the "Company"), is about to issue its title insurance policy or commitment (hereinafter referred
to as "the Title Insurance Policy") in respect to the land described in the above -numbered commitment; and
WHEREAS, Omni Redevelopment District Community, Redevelopment Agency, a public agency and
body corporate created pursuant to Section 163.356, Florida Statutes (hereinafter referred to as the "Lender") is
lending $3,100,000.00 to KUSH PROPERTY, LLC, a Florida limited liability company (hereinafter referred to as
"BORROWER"). Such loan is guaranteed by MATTHEW KUSCHER ("KUSCHER"), (KUSCHER shall be referred to as
"a GUARANTOR" and collectively shall be referred as "the GUARATOR").
WHEREAS, the Company, in its search and examination preparatory to fulfilling said request, has noted as
exceptions to the aforesaid title the following actual or supposed rights, interests, liens, claims, encumbrances, or
defects in title:
(i) any and all liens arising in connection with the list of liens, fines and other such violations shown in Schedule "A"
(collectively, the "Violation");
and
WHEREAS, the Company has been requested to issue its title insurance policy as aforesaid, either without
mention of the aforesaid exceptions or insuring against loss by reason thereof; and
WHEREAS, the Company may issue either concurrently herewith or hereafter and in the ordinary course of its
business another policy or other policies in the form or forms now or then commonly used by the Company, insuring
against loss by reason of defects in the title to said premises or to some part or parts thereof or interest therein, either
without mention of the aforesaid exceptions or insuring against loss by reason thereof;
NOW, THEREFORE, in consideration of the issuance of said title insurance policy as aforesaid, the
undersigned, BORROWER AND GUARANTOR, (each, and collectively, hereinafter referred to as the "INDEMNITOR")
jointly and severally covenant for themselves, their heirs, personal representatives or assigns, hereby, and agree with
the Company and the Lender forever to fully protect, defend and save harmless the Company and the Lender from
and against the above -mentioned rights, interests, liens, claims, encumbrances and defects in title, and each and every
one of them, and against all loss, costs, damages, and attorneys' fees and expenses of every kind and nature which it
may suffer, expend or incur under or by reason, or in consequence of, said title insurance policy or policies, including
loss, costs, damages, fees and expenses incurred in actions brought to enforce this Agreement.
Nothing contained herein shall be construed as to obligate the Company to issue its Title Insurance Policy in
the form requested herein. However, should the Company issue any such Title Insurance Policy, it will do so in reliance
upon the undertaking of the undersigned and the issuance of such Title Insurance Policy shall be the consideration for
the above undertakings by the undersigned.
INDEMNITOR shall simultaneously deposit the sum of THREE HUNDRED THOUSAND and 00/100 Dollars
($300,000.00) with the Title Agent, which shall only be returned to INDEMNITOR upon the expiration/termination of this
Agreement.
The Company and the Lender shall have the right at any time hereafter, after notice to the undersigned, when
it shall deem necessary, expedient or desirable to do so, in its sole discretion, to pay, discharge, satisfy or remove from
the title to said real estate all or any of the items set out above. The undersigned covenants and agrees to pay the
Company and the Lender, if applicable, all amounts so expended on demand. In the event the liens, claims,
encumbrances or defects set out above are paid, discharged, satisfied or removed from the title to said real estate to the
satisfaction of the Company, in its sole discretion, then the obligations created and imposed under this Agreement shall
be void and of no further force and effect.
This Agreement shall terminate and expire on the date that the Company can update the public records of
Miami -Dade County, Florida, to a date that is sixty (60) days after the date of the recordation of the Satisfaction of Lien
and complete termination and/or release of the Violation. If such title update reflects the filing of a claim of lien relating
or in addition to the Violation, the undersigned shall, within ten (10) business days:
a. Cause a release of the lien to be filed in the public records; or
b. Transfer the lien to bond in accordance with Florida law; or
c. Deposit with the Company an amount equal to one and one-half times the amount claimed, including
attorney's fees, interests, and costs to be held by the Company in escrow until the lien is released of
record, or if the lienholder institutes proceedings to foreclose such lien, the Company may use such
funds to obtain a release of the lien.
In the event any provision of this agreement shall be held invalid or unenforceable by any court having jurisdiction,
such provision shall be deemed severable and shall not effect the validity of any other provisions or the balance
hereof. The failure of the Company from time to time to demand the performance of any act which it might require of
INDEMNITOR hereunder shall not be construed as a waiver of the right to enforce such performance at a later time
upon appropriate demand.
All written notices permitted or required to be given under this agreement may be personally delivered to each of the
parties thereto, or mailed to each party by Registered United States Mail or Certified United States Mail, and shall be
considered duly mailed when addressed with postage prepaid as follows:
To the Company:
Old Republic National Title Insurance Company
c/o David B. Hendler, P.A.
1650 87th Avenue
2nd Floor
Miami, FL 33172
To INDEMNITOR:
KUSH PROPERTY LLC
4621 Ponce de Leon Boulevard
Coral Gables, FL 33146-2185
To LENDER:
Omni Redevelopment District Community
1401 N. Miami Avenue
Miami, Florida 33136
This Agreement shall benefit and bind the parties hereto and their respective successors, assigns and, in the case of
individual INDEMNITOR, their heirs and personal representatives. This Agreement may not be amended or modified
without the written Endorsement thereof by the Company and Indemnitor.
[SIGNATURES ON FOLLOWING PAGE]
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IN WITNESS WHEREOF, this instrument has been executed as of this 18th day of December, 2024.
INDEMNITOR:
KUSH PROPERTY, LLC, a Florida
limited liability company
Litt
DocuSigned byl
.a�=(mew, Manager
MATTHEW KUSCHER, individually
EDocuSigned by:
.a{gu.w saux
0208638B0A904E3
ATTE
DocuSigned by:
BY: FAR 07F6nnrpiaQ
Todd B. Hannon
Clerk of the Board
APPROVED AS TO LEGAL FORM AND
CORRECTNESS:
BY:
DocuSigned by:
AbrOG RISbIA111
48.-7€€&PE0024 ...
George K. Wysong III
General Counsel
RP #24-2085
COMPANY:
Old Republic National Title Insurance Company
DocuSigned by:
\— A984DDB3EF494D1...
AUTHORIZED SIGNATORY
David B. Hendler, P.A.
3679401
LENDER:
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT
AGENCY, of the City of Miami, a public
agency and body corporate created pursuant
to Section 163.356, Florida Statutes
BY:
„...---DocuSigned by:
Siaa ,JotA.t-s
'`•-72. BVa F4F46
A. "o...
Isiaa . Jones
Executive Director
APPROVED AS TO INSURANCE
REQUIREMENTS:
BY:
DocuSigned by:
FratAk GbwAt,)
Ann -Marie Sharpe
Director of Risk Management
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SCHEDULE "A"
Lien No.
CE11007599
Case Number
CE2011007599
Description
AL45-Code Enforcement Low Income Areas for
failure to have Certificate of Use and LBTR
Code Enforcement Lien duly recorded February 1, 2012, in
O.R. Book 27981, Page 1295, Public Records of Miami -Dade
County, Florida.
SWT0282120
CE2011008311
Trash Citation Lien
Violation recorded at O.R. Book 28909, Page 3326 and O.R.
Book 28200, Page 4714
US2003897
BB2012003897
Building Department/Demolition
Violation recorded at O.R. Book 32655, Page 967
US6006167
BB2016006167
Unsafe Structure
Violation recorded at O.R. Book 32562, Page 223and O.R.
Book 32655, Page 992
TK0021939
CE2004005454
AL82-Code Enforcement Ticket Lien
• Notice of Commencement recorded in O.R. Book 34284, Page 4873, Public Records of
Miami -Dade County, Florida.
• Notices of Violations recorded in O.R. Book 34507, Page 78; O.R. Book 34507, Page 85; O.R.
Book 34507, Page 99, O.R. Book 32562, Page 223; O.R. Book 34049, Page 4815; O.R.
Book 34049, Page 4857; O.R. Book 34049, Page 4868; O.R. Book 33743, Page 3587;
O.R. Book 33743, Page 3591; O.R. Book 33743, Page 3595; O.R. Book 33428, Page
3678; O.R. Book 33428, Page 3705; O.R. Book 33400, Page 1048; O.R. Book 32655,
Page 967; O.R. Book 32655, Page 992; O.R. Book 28909, Page 3326, Public Records of
Miami -Dade County, Florida.
• Code Enforcement Liens recorded in O.R. Book 33534, Page 3355; O.R. Book 28200,
Page 4714; O.R. Book 27981, Page 1295, Public Records of Miami -Dade County,
Florida.
• Violation No. BB2011023045 - Work without a Permit
• Code Violation/Lien No. BB2011023045 and Lien No. US1023045
• Lien No. 00009723
Olivera, Rosemary
From: De Los Santos, Jesly
Sent: Wednesday, February 26, 2025 2:34 PM
To: Hannon, Todd
Cc: Olivera, Rosemary; Ewan, Nicole; Jones, Isiaa; Pereira, Raymond; Senexant, Ashleen
Subject: 24-2085 Indemnity Agreement - Old Republic National Title Insurance
Attachments: Indemnity Agreement - Old Republic National Title Insurance - Kush Korner - Fully
Executed.pdf
Good afternoon,
Please find attached a fully executed copy of an agreement from DocuSign that is to be considered an
original agreement for your records.
Best regards,
Jesly De Los Santos
Executive Assistant, OMNI-CRA
1401 N. Miami Avenue, Miami, FL 33136
Off: 305 679-6856
Email: irjelossantos@mlar v ir.�..r
Website: www.omnicra.com
1111111111111111111
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