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HomeMy WebLinkAbout23298AGREEMENT INFORMATION AGREEMENT NUMBER 23298 NAME/TYPE OF AGREEMENT RESIDENCES AT DR. KING BOULEVARD, LTD. DESCRIPTION RENT REGULATORY AGREEMENT/RENT-RESTRICTED BOND -ASSISTED UNITS/FILE ID: 5562/R-19-0141 EFFECTIVE DATE ATTESTED BY TODD B. HANNON ATTESTED DATE 9/28/2020 DATE RECEIVED FROM ISSUING DEPT. 9/30/2020 NOTE a3aR g Prepared by, and, after recording return to: Victoria Mendez, Esq. City Attorney City of Miami 444 S.W. 2nd Avenue Miami, FL 33130-1910 Folios: 01-3114-027-1290, 01-3114-027-1250, 01-3114-027-1240,01-3114-027-1230, 01-3114-027-1220,01-3114-027-1210, 01-3114-035-2000,01-3114-035-2020, 01-3114-035-2030,01-3114-035-2035 Addresses: 6240 NW 15 Ave. Miami, FL 33147, 1501 NW 62 St. Miami, FL 33147, 1515 NW 62 St. Miami, FL 33147, 1525 NW 62 St. Miami, FL 33147, 1535 NW 62 St. Miami, FL 33147, 1551 NW 62 St. Miami, FL 33147, 1560 NW 62 St. Miami, FL 33147, 1520 NW 62 St. Miami, FL 33147, 1500 NW 62 St. Miami, FL 33147, Adjacent North of 1500-1520 NW 62 Street, Miami, FL33147 RENT REGULATORY AGREEMENT FOR RESIDENCES AT DR. KING BOULEVARD, LTD. THIS RENT REGULATORY AGREEMENT ("Regulatory Agreement") is entered into this day of , 2020, between RESIDENCES AT DR. KING BOULEVARD, LTD., a Florida limited partnership (hereinafter referred to as "Borrower") and the CITY OF MIAMI, a municipal corporation of the State of Florida (hereinafter referred to as the "City"). The execution of this Regulatory Agreement by the Borrower is in connection with the loan of Miami Forever Bond ("Bond") funds, (the "Loan"), secured by certain loan documents to be executed in connection therewith (the "Loan Documents"), for the construction of a total of one hundred twenty (120) residential apartment units, all of which will be rent -restricted bond -assisted units (the "Bond -Assisted Units" or "Assisted Units") of that certain project known as Residences at Dr. King Boulevard (hereinafter referred to as the "Project"). The Project will be two newly constructed residential buildings located approximately at 6240 NW 15 Ave. Miami, FL 33147, 1501 NW 62 St. Miami, FL 33147, 1515 NW 62 St. Miami, FL 33147, 1525 NW 62 St. Miami, FL 33147, 1535 NW 62 St. Miami, FL 33147, 1551 NW 62 St. Miami, FL 33147, 1560 NW 62 St. Miami, FL 33147,1520 NW 62 St. Miami, FL 33147, 1500 NW 62 St. Miami, FL 33147, Adjacent North of 1500-1520 NW 62 Street, Miami, FL33147, Tax Folios: 01-3114-027-1290, 01-3114-027-1250, 01-3114-027-1240, 01-3114-027-1230, 01-3114-027-1220, 01-3114-027- 1210, 01-3114-035-2000, 01-3114-035-2020, 01-3114-035-2030, 01-3114-035-2035 (hereinafter collectively referred to as the "Property"). In accordance with the requirements set forth in (i) that certain Miami Forever Bond Loan Agreement to be executed by the Borrower and the City for the Bond funds (the "Agreement" or "Loan Agreement"), and (ii) the other Loan documents of even date therewith between the Borrower and the City, all Project units are considered "Bond -Assisted" and all of the Bond - Assisted Units are subject to the restrictions provided herein. Borrower hereby agrees to the following terms, conditions and covenants until the end of the Affordability Period: Occupancy Requirements. The Bond -Assisted Units shall be occupied only by Extremely Low Income Households, Very Low Income Households, Low Income Households, and Workforce Income Households. Bond -Assisted units shall be made available to tenants who qualify under the occupancy requirements of Florida Housing Page 1 of 12 RFA_MFB RRA v2 Finance Corporation ("FHFC") and fit the income requirements. Workforce Income Households, for the purposes of this Regulatory Agreement, shall mean households whose annual incomes that do not exceed one hundred forty percent (140%) of the median income for the area (e.g. Miami -Dade County Florida), as determined by Florida Housing Finance Corporation and adjusted for family size. Low Income Households, for the purposes of this Regulatory Agreement, shall mean households whose annual incomes that do not exceed eighty percent (80%) of the median income for the area (e.g. Miami -Dade County Florida), as determined by Florida Housing Finance Corporation and adjusted for family size. Very Low Income Households, for the purposes of this Regulatory Agreement, shall mean households whose annual incomes that do not exceed sixty percent (60%) of the median income for the area (e.g. Miami -Dade County Florida), as determined by Florida Housing Finance Corporation and adjusted for family size. Extremely Low Income Households, for the purposes of this Regulatory Agreement, shall mean households whose annual incomes that do not exceed thirty percent (30%) of the median income for the area (e.g. Miami -Dade County Florida), as determined by Florida Housing Finance Corporation and adjusted for family size. (2) Maximum Rent Levels. The rents charged on all of the Bond -Assisted Units shall be subject to the rent limits released annually by Florida Housing Finance Corporation. The Rent maximums for leases signed in Miami, Florida effective as of July, 2020, are as follows: No. of Bond - No. of Bedrooms No. of Bond Rent AMI % Assisted Units Bathrooms Maximum 12 1 1 $2,401.00 140% 9 1 1 $1,371.00 Y:80%0.. 75 1 1 $857.00 60% , 24 1 1 $514.00 .: 30%: 47 The foregoing maximum rents include tenant paid utilities. Maximumxents will be. reduced for the amount of the applicable HUD Utility Allowance for any; utilities.'paid by the tenant. In no event will the monthly rent on a Bond -Assisted Unit exceedthirty percent (30%) of the applicable percentage of area median income set forth in Paragraph 1 above. Rents shall not be adjusted for changes in income or HUD published maximums until lease renewal. (3) Income Re -certification. Tenant income for Bond -Assisted Units shall be certified by the Borrower annually on the anniversary of each tenant's lease and maintained in the tenant file, subject to inspection by the City, in accordance with Paragraph 9 of this Regulatory Agreement. .(4) Deposits and Pre -payments. Borrower shall not require, as a condition of occupancy or leasing of any Bond -Assisted Unit, any other consideration or deposit from the Page 2 of 12 tenant, except for the prepayment of one month's rent and plus a security deposit not to exceed one additional month's rent. (5) Prohibited Lease Provisions. The Borrower's leases for Bond -Assisted Units shall not contain any of the following provisions: a. Agreement to be sued. A tenant lease may not contain a provision whereby the tenant agrees to be sued, admits guilt or consents to judgment in favor of the landlord in a lawsuit brought in connection with the lease. b. Agreement regarding treatment of property. A tenant lease may not contain a provision whereby the tenant agrees that the landlord may take, hold or sell personal property of the tenant household without notice and a court decision. This prohibition does not apply to personal property remaining in the Bond -Assisted Unit after the tenant has moved out. c. Waiver of notice. A tenant lease may not contain a provision whereby the tenant agrees that the landlord may institute a lawsuit without notice to the tenant. d. Waiver of legal proceedings. A tenant lease may not contain a provision whereby the tenant agrees that the landlord may evict the tenant or a household member without instituting a civil court proceeding in which the tenant has the opportunity to present a defense or before a court decision on the rights of the parties. e. Waiver of a jury trial. A tenant lease may not contain a provision whereby the tenant agrees to waive any right to a jury trial. f. Waiver of right to appeal a court decision. A tenant lease may not contain a provision whereby the tenant agrees to waive the tenant's right to appeal or otherwise challenge in court a court decision in connection with the lease. Agreement to pay legal costs, regardless of outcome. A tenant lease may not contain a provision whereby the tenant agrees to pay attorney's fees or other legal costs even if the tenant wins the court proceeding brought by the landlord against the tenant. The tenant, however, may be obligated to pay costs if the tenant loses. g. h. Excusing owner from responsibility. A tenant lease may not contain a provision whereby the tenant agrees not to hold the landlord on the landlord's agents legally responsible for any action or failure to act, whether intentional or negligent. (6) Annual Reporting. Each year, on the anniversary of the issuance of the certificate of occupancy/certificate of completion for the Project, and at other times at the request of the City, the Borrower shall furnish occupancy reports in a form approved by the City, and shall provide the City with such other information as may be requested by the City relative to income, expenses, assets, liabilities, contracts, operations, and condition of the Project and/or the Bond -Assisted Units. (7) Inspections. The Borrower agrees to submit the Bond -Assisted Units to an annual re -inspection to insure continuing compliance with all applicable housing codes, Page 3 of 12 federal and local housing quality standards and regulatory requirements. The Borrower will be furnished a copy of the results of each inspection within thirty (30) days of completion, and will be given thirty (30) days thereafter to correct any deficiencies or violations. At any time other than an annual inspection, the City may, in its discretion, inspect any Bond -Assisted Unit. The Borrower and the tenant will be provided with the results of the inspection and the time and the method of compliance and corrective action that must be taken. (8) Record -keeping. The Property, including the Bond -Assisted Units, equipment, buildings, plans, offices, apparatus, devices, books, contracts, records, documents, and other papers relating thereto shall at all times be maintained in reasonable condition for proper audit and shall be subject to examination and inspection at any reasonable time by the City. Borrower shall keep copies of all written contracts and other instruments which affect the Bond -Assisted Units, all or any of which may be subject to inspection and examination by the City. Specifically, the foregoing includes all records, calculations and information necessary to support tenant occupancy eligibility and monthly rental charges in addition to all leases and written notices to tenants with respect to the terms of this Regulatory Agreement, as required by Paragraph 12 of this Regulatory Agreement. (9) Default. Upon the occurrence of a violation of any provision of this Regulatory Agreement, the City shall give written notice thereof to the Borrower, by registered or certified mail, addressed to the Borrower's address as stated in this Regulatory Agreement, or to such other address(es) as may subsequently, upon appropriate written notice thereof to the City, be designated by the Borrower. In the case of a Borrower which is a corporation or partnership, notices may also be sent by the City to the address of the corporation's chief executive officer or to all general partners, as applicable, at the City's discretion. If such violation is not corrected to the City's satisfaction, within thirty (30) days after the date such notice is mailed, or within such further time as the City reasonably determines is necessary to correct the violation, without further notice the City may declare a default under this Regulatory Agreement and under the Agreement and the Loan Documents executed in connection therewith, and may proceed to initiate any or all remedies at law or in equity provided for in the event of a default under such agreements and Loan Documents. All notices under this Regulatory Agreement shall be in writing and addressed as follows: To Borrower: With Copy to: Residences at Dr. King Boulevard, Ltd. 2950 SW 27 Avenue, Suite 200 Miami, FL 33133 Attn: Kenneth Naylor Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. 150 West Flagler Street, Suite 2200 Miami, FL 33130 Page 4 of 12 To City: With Copy To: Attn: Brian J. McDonough City of Miami Department of Housing and Community Development One Flagler Building 14 Northeast 1st Avenue, Second Floor Miami, Florida 33132 Attn: George Mensah, Director Victoria Mendez Office of the City Attorney, City of Miami 444 S.W. 2nd Avenue Miami, FL 33130-1910 City will endeavor to send a copy of the notice sent to the Borrower to Investor, as defined in the Loan Agreement, at the following address; however, any failure of the City to provide such copy to Investor shall not affect the effectiveness of the notice to Borrower: Wells Fargo Affordable Housing Community Development Corporation MAC D1053-170 301 South College Street, 17th Floor Charlotte, NC 28288 Attn: Director of Tax Credit Asset Management (10) Fines. Upon the occurrence of a violation of any provision of this Regulatory Agreement, and regardless of the nature of the violation, the City will assess a flat monthly fine in the amount of Fifty Dollars and no/cents ($50.00) per Bond -Assisted Unit that is the subject of such violation up to a maximum of Five Thousand Dollars and no/cents ($5,000.00) per month, for each month the violation is not corrected, and pay same over to the City. The remedy for violation provided in this section of this Regulatory Agreement is cumulative with any and all remedies at law or in equity provided in the event of a default under this Regulatory Agreement and/or the Loan Documents. f11) Tenant Notice. Borrower agrees during the term of this Regulatory Agreement, to furnish each tenant of a Bond -Assisted Unit, at the execution or renewal of any lease or upon initial occupancy, if there is no lease, with a written notice in the following form: The rent charged for your apartment and the services included in that rent are subject to a Rent Regulatory Agreement between the landlord and the City of Miami, for the term of the Affordability Period. A copy of the Rent Regulatory Agreement will be made available by the landlord to each tenant upon request. Page 5 of 12 If there is no lease for a Bond -Assisted Unit, Borrower shall maintain a file copy of such notice delivered to the tenant, with a signed acknowledgement of receipt by the tenant. All such notices to tenants will be made available for inspection upon request by the City. (12) No Conflict with Loan Documents. The provisions of this Regulatory Agreement are in addition to, and do not amend, alter, modify, or supersedein any respect, the provisions of the mortgage and/or any of the other Loan Documents executed in connection with the Loan. (13) Partial Invalidity. The invalidity of any paragraph or provision of this Regulatory Agreement shall not affect the validity of the remaining paragraphs and provisions hereof. (14) Term. This Regulatory Agreement shall be effective until the Expiration of the Affordability Period. On the Expiration of such period, this Regulatory Agreement shall immediately lapse and be of no further force and effect without the necessity of any other written document or instrument. Notwithstanding the foregoing, upon such Expiration, the Borrower shall be permitted to prepare and record an instrument evidencing the expiration of and other termination of this Regulatory Agreement in the Public Records of Miami -Dade County, Florida. (15) Definitions. All capitalized terms used herein and not otherwise defined shall have the meanings provided in the Regulation and/or in the Loan Documents. (16) Exclusion of Commercial Spaces. Notwithstanding anything to the contrary in this Regulatory Agreement or in the Agreement, it is expressly understood and agreed that the Regulation and all other terms, conditions, restrictions, and requirements of this Regulatory Agreement shall exclude, and shall not apply to, or otherwise restrict or affect, the operation, maintenance, leasing, improvement, base rent and other additional rent determination and collection, and all other aspects of the Borrower's management, leasing, and ownership of all or any portion of the commercial and retail spaces located in the Project, if applicable. (17) Severability. Invalidation of one of the provisions of this Regulatory Agreement by judgment of Court shall not affect any of the other provisions of the Covenant, which shall remain in full force and effect. (18) Recordation. This Regulatory Agreement shall be filed of record among the Public Records of Miami -Dade County, Florida, at the sole cost and expense of the Borrower. (19) Governing Law and Venue. This Regulatory Agreement shall be construed and enforced pursuant to the laws of the State of Florida, excluding all principles of choice of laws, conflict of laws and comity. Any action pursuant to a dispute under this Regulatory Agreement must be brought in Miami -Dade County and no other venue. All meetings to resolve said dispute, including voluntary arbitration, mediation, or other alternative dispute resolution mechanism, will take place in this venue. The parties both waive any defense that venue in Miami -Dade County is not convenient. Page 6 of 12 (20) Counterparts. This Regulatory Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, and such counterparts shall together constitute but one and the same Regulatory Agreement. The parties shall be entitled to sign and transmit an electronic signature of this Regulatory Agreement (whether by facsimile, PDF or other email transmission), which signature shall be binding on the party whose name is contained therein. Any party providing an electronic signature agrees to promptly execute and deliver to the other parties an original signed Regulatory Agreement upon request. (21) Attorney's Fees. In the event litigation, arbitration, or mediation, between the parties hereto, arises out of the terms of this Regulatory Agreement, each party shall be responsible for its own attorney's fees, costs, charges, and expenses through the conclusion of all appellate proceedings, and including any final settlement or judgment. [Signature Page Follows] Page 7 of 12 THIS REGULATORY AGREEMENT has been executed and delivered as of the day and year first above written. WITNESSES: 4-1M eAt).400 Print Name: UV CZ )a Print Name: Mi'CNI/lC( /). ijntpi PROJECT SPONSOR'S 161 NW 6th Street, Suite 1020 Miami, Florida 33136 Print Name: Print Name: RFA MFB RRA_v2 SS PROJECT SPONSOR: RESIDENCES AT DR. KING BOULEVARD, LTD., a Florida limited partnership By: APC Residences at Dr. King Boulevard, LLC, Florida limited liability company, its general partner By: Name: Title: andy Weisbur President By: MLK 62nd Street Apartments GP, LLC, a Florida limited liability company, its co -general partner By: Name: Title: [ACKNOWLEDGMENTS APPEAR ON FOLLOWING PAGE] Page 7 of 10 ACKNOWLEDGMENT STATE OF FLORIDA } COUNTY OF MIAMI-DADE } SS: The foregoing instrument was acknowled ed before me by means of [ physical presence 9r ❑ online notarization this Z( day of S e)t-• , 2020 by ill • Di Gk) (IS13Ut ' , as -P(LE5 \W\J[ of APC Residences at Dr. King Boulevard, LLC, a Florida limited liability company, the general partner of Residences at Dr. King Boulevard, Ltd., a Florida limited partnership, who is personally known to me or who produced a _as identification: ..... �aYA� SILVIAACAMPOS ?�• fir. Notary Public - State of Florida „\• 1t)! Commission U GG 234701 •• 'rif \°°•` My Comm. Expires Jul 4, 2022 '• Bonded through National Notary Assn. STATE OF FLORIDA } COUNTY OF MIAMI-DADE } SS: Print Name: SI LV )15, A-• cis Notary Public, State of Florida at large The foregoing instrument was acknowledged before me by means of D physical presence or ❑ online notarization this day of , 2020 by as of MLK 62nd Street Apartments GP, LLC, a Florida limited liability company, the co -general partner of Residences at Dr. King Boulevard, Ltd., a Florida limited partnership, who is personally known to me or who produced a as identification. Print Name: Notary Public, State of Florida at large Page 8 of 10 RFA_MFB RRA_v2 THIS REGULATORY AGREEMENT has been executed and delivered as of the day and year first above written. WITNESSES: Print Name: Print Name: PROJECT SPONSOR'S ADDRESS 161 NW 6th Street, Suite 1020 Miami, Florida 33136 Print Name: PnntName: Marlene Sanchez RFA_MFB RRA_v2 PROJECT SPONSOR: RESIDENCES AT DR. KING BOULEVARD, LTD., a Florida limited partnership By: APC Residences at Dr. King Boulevard, LLC, Florida limited liability company, its general partner By: Name: Title: By: MLK 62nd Street Apartments GP, LLC, a Florida limited liability company, its co -general partner By: Name: Title: [ACKNOWLEDGMENTS APPEAR ON FOLLOWING PAGE] Page 7 of 10 ACKNOWLEDGMENT STATE OF FLORIDA } COUNTY OF MIAMI-DADE } SS: The foregoing instrument was acknowledged before me by means of ❑ physical presence or ❑ online notarization this day of , 2020 by , as of APC Residences at Dr. King Boulevard, LLC, a Florida limited liability company, the general partner of Residences at Dr. King Boulevard, Ltd., a Florida limited partnership, who is personally known to me or who produced a _as identification. Print Name: Notary Public, State of Florida at large STATE OF FLORIDA } COUNTY OF MIAMI-DADE } SS: The foregoing instrument was acknowledged b-ef e me by means of.< ph sical presence or ❑ online n tarization this day of 1P� , 2020 by ' Z , . k r" , as Gix of MLK 62nd Streit Apartments GP, LLC, a Florida limited lia ility cofxlpany, the co -general partner of Residences at Dr. King Boulevard, Ltd., a Florida limited partnership, who is personally known to me or who produced a as identification. Y Poe MARLENE CASAR SANCHEZ ro .r Notary Public - State of Floriaa moo= Commission // GG 921883 „„9t-. r...... My Comm. Expires Oct 19, 2023 e Bonded through National Notary Assn. RFA_MFB RRA_v2 Pint Name: r, Var,lee,Rtichrz Notary Public, State of Florida at large Page 8 of 10 a7O THIS REGULATORY AGREEMENT has been executed and delivered as of the day and year first above written. ATTEST: Todd B. Hanno City Cle Date: APPROVED AS • a Mendez Attorney CITY: CITY OF MIAMI, a municipal corporation of the State of Florid By: hur Norm .a V City Manager Page 10 of 12 Exhibit A Legal Description Of The Property Parcel 1 LOT 15, BLOCK 6, OF EAST LIBERTY CITY SECTION A, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 39, PAGE 19 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. Parcel 2 LOTS 11, 12, 13, AND 14, OF BLOCK 6, OF EAST LIBERTY CITY SECTION A, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 39, AT PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. Parcel 3 LOT 9, IN BLOCK 6, OF EAST LIBERTY CITY, SECTION A, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 39, AT PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, A/K/A 1515 N.W. 62ND ST., MIAMI, FLORIDA. Parcel 4 LOT 8, BLOCK 6, OF EAST LIBERTY CITY SECTION A, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 39, AT PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. Parcel 5 LOT 7, BLOCK 6, OF EAST LIBERTY CITY SECTION A, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 39, AT PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. Parcel 6 LOT 6, BLOCK 6, OF EAST LIBERTY CITY SECTION A, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 39, AT PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. Parcel 7 LOTS 19 AND 20, IN BLOCK 11, ORANGE HEIGHTS, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 14, PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, LESS THE NORTH 30 FEET; TOGETHER WITH THE NORTH 1/2 OF ALLEY LYING SOUTH AND ADJACENT TO LOTS 19 AND 20, SAID ALLEY CLOSED PER ORDINANCE 13492, RECORDED IN OFFICIAL RECORDS BOOK 31981, PAGE 1923. Page 11 of 12 Parcel 8 LOTS 21 THROUGH 25 AND THE WEST 16 FEET OF LOT 26, LESS THE NORTH 30 FEET OF ALL LOTS IN BLOCK 11, OF ORANGE HEIGHTS, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 14, AT PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA; TOGETHER WITH THE NORTH 1/2 OF ALLEY LYING SOUTH AND ADJACENT TO LOTS 21, 22, 23, 24, 25 AND THE WEST 16 FEET OF LOT 26, SAID ALLEY CLOSED PER ORDINANCE 13492, RECORDED IN OFFICIAL RECORDS BOOK 31981, PAGE 1923. Parcel 9 LOTS 27 AND 28 AND THE EAST 9 FEET OF LOT 26, LESS THE NORTH 30 FEET OF ALL LOTS, IN BLOCK 11 OF ORANGE HEIGHTS, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 14, PAGE 62 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA; TOGETHER WITH THE NORTH 1/2 OF ALLEY LYING SOUTH AND ADJACENT TO LOTS 27, 28 AND THE EAST 9 FEET OF LOT 26, SAID ALLEY CLOSED PER ORDINANCE 13492, RECORDED IN OFFICIAL RECORDS BOOK 31981, PAGE 1923. LESS AND EXCEPT: A PORTION OF LOT 28 IN BLOCK 11, ORANGE HEIGHTS, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 14, PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BOUNDED ON THE NORTH BY THE SOUTH LINE OF THE NORTH 30.00 FEET OF LOT 28 OF SAID BLOCK 11, BOUNDED ON THE EAST BY THE EAST LINE OF SAID LOT 28, AND BOUNDED ON THE SOUTHWEST BY A 25.00 FOOT RADIUS ARC CONCAVE TO THE SOUTHWEST, TANGENT TO THE EAST LINE OF SAID LOT 28, AND TANGENT TO THE SOUTH LINE OF THE NORTH 10.00 FEET OF SAID BLOCK 11. Parcel 10 THE SOUTH 20.00 FEET OF THE NORTH 30.00 FEET OF LOTS 21 THROUGH 28, BLOCK 11 OF ORANGE HEIGHTS, ACCORDING TO THE PLAT THEREOF RECORDED IN PLAT BOOK 14, PAGE 62, OF THE PUBIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, LESS THAT PORTION OF LOT 28 WHICH LIES WITHIN THE EXTERNAL AREA FORMED BY A 25.00 FOOT RADIUS ARC CONCAVE TO THE SOUTHWEST, TANGENT TO THE EAST LINE OF SAID LOT -,... 28, AND TANGENT TO THE SOUTH LINE OF THE NORTH 10.00 FEET OF SAID BLOCK 11. Page 12 of 12