HomeMy WebLinkAbout23368AGREEMENT INFORMATION
AGREEMENT NUMBER
23368
NAME/TYPE OF AGREEMENT
NR INVESTMENTS 11, LLC
DESCRIPTION
AMENDMENT OF THE RENT REGULATORY AGREEMENT
FOR UNI TOWER
EFFECTIVE DATE
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
4/9/2021
DATE RECEIVED FROM
ISSUING DEPT.
4/26/2021
NOTE
Prepared by,
Kristofor W. Nelson, Esq.
General Counsel
N.R. Group Management, Inc.
1111 Park Centre Boulevard, Suite 450
Miami, Florida 33169
After recording return to:
Victoria Mendez, Esq.
City Attorney, City of Miami
444 S.W. 2nd,Avenue
Miami, FL 33130-1910
Tel: (305) 416-1800
Property Address: 70 NE 17th Street, Miami, Florida, 90 NE ITh Street, Miami, Florida,
1642 NE 1st Avenue, Miami, Florida
AMENDMENT OF THE RENT REGULATORY AGREEMENT FOR
UNI TOWER
This an amendment to the original Rent Regulatory Agreement for Unit Tower dated May 21 st, 2020 and recorded on
June 5'h, 2020 in Official Records Book 31961, Page 2604 and Clerk's File Number 20200318802 of the Public
Records of Miami -Dade County, Florida to amend the unit mix structure and assign the rights and obligations to NR
Investments 11, LLC's parent and sole member, UNI 17th Street, LLC.
THIS AMENDMENT OF THE RENT REGULATORY AGREEMENT rAmendment")
is entered into this day of' : April:, 2021,.between NR INVESTMENTS 11, LLC, .a Florida
limited liability company ("NR 11"), its parent company and sole member, UNI 17th STREET,
LLC, a Florida limited liability company (".UNI") , and their assigns or successors in interest,
with theirprincipal office located at 1111 Park Centre Boulevard, Suite 450, Miami Gardens,
Florida 33169 and the OMNI COMMUNITY REDEVELOPMENT AGENCY, a public agency
and body corporate created by the City of Miami (the "City") in 1987 pursuant to Florida Statutes
Section163.356, with a principal office located at 1401 N. Miami Avenue, 2nd Floor, Miami,
Florida 33136 (hereinafter the "CRA") modifies that certain Rent Regulatory Agreement for Uni
Tower executed on May 21St, 2020 and recorded on June 5th, 2020 in Official Records Book 31961,
Page 2604 and Clerk's File Number 20200318802 of the Public Records of Miami -Dade County,
Florida (the "Rent Regulatory. Agreement").
RECITALS:
WHEREAS, NR 11 transferred the Project including fee simple title to the underlying real
estate property located at 70 NE 17th Street, 90 NE 17th Street and 1642 NE 1 Avenue, Miami,
Florida (the legal descriptions of such properties are attached hereto as Exhibit A) to its sole
member and parent company, UNI. As a result, NR 11 wishes to assign and UNI wishes to assume
all of the rights, interests and obligations in the Rent Regulatory Agreement;
WHEREAS, the UNI, at the direction of HUD, has redesigned the unit mix 'of the project
to include more one bedroom apartments and less studio apartments without changing the number
of restricted overall units in the Project or at any of the previously approved AMI levels;
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NOW, THEREFORE, in consideration of the foregoing and of the covenants and
agreements hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, NR 11, UNI and the CRA hereby agree as follows:
1. Incorporation of Recitals. The recitals set forth. above are hereby incorporated by
reference as if fully set forth herein.
2. Capitalized Terms. All capitalized terms not specifically defined herein will have the
meanings ascribed to them in the Rent Regulatory Agreement.
3. All Other •Tents and . Rights Unchanged. Unless expressly modified by this
Amendment, all other terms, conditions and rights remain in or created by the Rent
Regulatory Agreement remain unchanged.
4. Assignment and Assumption. NR 11 hereby assigns and UNI hereby assumes all rights,
interests. and obligations included in the Rent Regulatory Agreement as amended
herein.
5. Unit -Mix. The unit structure provided in the chart following the third paragraph in the
Rent Regulatory Agreement is hereby deleted and replaced in its entirety by the chart
below and the Project, during the Affordability Period, will maintain the following unit
mix structure:
Unit -Mix
Unit Type
No. of Units
AMI
(as defined below)
Efficiency
3
60%
Efficiency
5 _ .
80%
Efficiency.
8
100%
Efficiency
10
120%
Efficiency .
28
140%
1 Bedroom
10
60% .
1 Bedroom
20
80%
1 Bedroom
30
100%
1 Bedroom, .
40
120%
1 Bedroom
98
140%
Total: 252
6. Recordation. This Amendment shall be filed of record among the Public Records of
Miami -Dade County, Florida, at the sole cost and expense of the Developer within
fifteen (15) calendar days after all parties have executed this Amendment.
7. Counterparts: Electronic Signatures. This Amendment may be executed in any number
of counterparts, each of which shall be deemed an original, but all of which shall
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constitute one and the same instrument. Facsimile, .pdf and other electronic signatures
to this Amendment shall have the same effect as original signatures.
THIS AMENDMENT has been executed and delivered as of the day and year first above
written.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
their undersigned officials as duly authorized.
NR 11:
NR INVESTMENTS 11, LLC, a Florida
WITNESSES: limited li. corn
By:
Name: Ter i'We Ions
Title: M'arnager
ACKNOWLEDGEMENT
STATE OF FLORIDA
COUNTY OF MIAMI-DADE )
The foregoing instrument was acknowledged before me by means of physical presence
or O online notarization, this 31 day of March, 2021, by Terry Wellons, as Manager of NR
Investments I 1, LLC, a Florida limited liability company, on behalf of the limited liability
company, who is personally OWIl to me or has produced as identification.
lie ley
My Commission Expires:
Notary
NATALIE.B4EY
COMMISSION ti eco 193451
E(PIRES: p.r5 27,-2022
BoridedThriitiotryPubllo Wenders
a of Florida
.3 0(6
UNI:
IJNI 17th Street, LLC, a Florida limited
WITNESSES: com
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
By:
Name: rry Wellons
Titl Manager
ACKNOWLEDGEMENT.
)
The foregoing instrument was acknowledged before me by means of ElVphysical presence
or E1 online notarization, this day of March, 2021, by Terry Wellons, as Manager of UNI
17th Street, LLC, a Florida limited liability company, on behalf of the limited liability company,
who is personally own to me or has produced as identification.
My Commission Expires:
NATALIE BA)LEY
• lAY COMMISSION # Ge 191451
EXPIRES:Mill 27. 2022
" f INV Bonded Thru Notary PubIto Undekiterc
1
Notay-Publit;Slate of Florida
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IN WITNESS WHEREOF, the parties hereto have caused this AMENDMENT to be executed
by their undersigned officials as duly authorized.
ATTEST:
Todd Hannon, the Board
Date: cl a.p',1
APPROVED AS TO INSURANCE
REQUIREMENTS
Ann -Marie Sharpe
Director of Risk Management
CRA:
OMNI COMMUNITY REDEVELOPMENT
AGENCY, a public agency and body
corporate created by the City of Miami
pursuant to Florida Statutes Section 163.356
("CRA")
By:
Jason 1Va1I r, F, cutive Director
APPROVED AS TO FORM AND
CORRECTNESS
9'a ,L_. 7 e/6/9
Victoria endez
General Counsel
RFA #21-370
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a3Le8
Exhibit A
Legal Description of the Properties at 70 NE 17th Street, 90. NE 17th .Street.
and 1642 NE Pt Avenue,Miami, Florida
Full Legal Description
Parcel 1:
Lot 1, less. the North 10. feet, and the East 10 feet, Block 8, Robbins, Graham and Chillingsworth
Addition North Miami, according to the Plat thereof, as recorded in Plat Book "A", Page 49 1/2,
of the Public Records of Miami -Dade County, Florida, together with the East 1/2 of the 10 foot.
vacated alley right of way adjacent to and abutting the West line of said Lot 1, less the North 10
feet.
Parcel 2:
Lots 3 and .4,:less the East 10 feet of Lot 4, Block 8, Robbins, Graham and Chillingsworth Addition
North Miami, according to. the Plat thereof, recorded in Plat Book "A", Page 49 1/2, of the Public
Records of Miami -Dade County, Florida, together with that portion of the 10 foot vacated alley
right of way situated between said Lots 3 and 4.
Parcel 3:
Lot 2, less the North 10 feet, Block 8, of Robbins, Graham and Chillingsworth Addition North
Miami, according to the Plat thereof, as recorded in Plat Book "A", Page 49 1/2, of the Public
Records of Miami -Dade County, Florida and the Westerly 5 feet of a 10 foot alley vacated by City
of Miami Ordinance No. 13492 "Mas Index" 23H10 Ordinance and Vacation recorded in Official
Records Book 29757, Page .1686, Official Records Book 29778, Page 3598, Official Records Book
29877, Page 4214 and in Official Records Book 30125, Page 2511, all of the Public Records of
Miami -Dade County, Florida, : lying adjacent to Lot 2, Block 8, of Robbins, Graham and
Chitiingsyvorth Addition North Miami, according to the Plat thereof, as recorded in Plat Book "A",
Page 49 1/2, of the Public Records of Miami -Dade County, Florida, and being bound of the North
by an extension of a line 10 feet Southerly of the North boundary line of Lot 2, Block 8, extending
Easterly for 5 feet and on the South by an extension of the Southerly boundary line of Lot 2, Block
8, Easterly for 5 feet.
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