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HomeMy WebLinkAboutR-73-0069iY1li'F.+LiriT:lvs.. irPF HY/f 1 1/12/73 RESOLUTION NO.. 7a- 6 A RESOLUTION CONSENTING TO ASSIGNMENT OF COVENANT TO RUN WITH THE LAND FROM PAUL L. LOWMAN AND BARBARA J. LOWMAN, HIS WIFE, TO HESSEN, LAZARE & FEISLER, A PARTNERSHIP, ADAIR MORTGAGE COMPANY AND UNION MUTUAL LIFE INSURANCE COM- PANY, SAID COVENANT HAVING BEEN ORIGIN- ALLY EXECUTED BY PAUL L. LOWMAN AND BARBARA J. LOWMAN, HIS WIFE, TO THE CITY OF MIAMI DATED AUGUST 18, 1972, AND RECORDED IN OFFICIAL RECORDS BOOK 7878, PAGE 271, OF THE PUBLIC RECORDS OF DADE COUNTY, FLORIDA; AUTHORIZING AND DIRECTING THE CITY MANAGER AND CITY CLERK TO EXECUTE THE CONSENT OF THE CITY OF MIAMI TO ASSIGNMENT OF COVENANT TO RUN WITH THE LAND; AND DIRECTING THAT THE DOCUMENT STATED HEREIN BE RECORDED IN THE PUBLIC RECORDS OF DADE COUNTY, FLORIDA, AT THE EXPENSE OF THE MAKERS OF SAID DOCUMENT, A COPY OF ASSIGNMENT OF COVENANT TO RUN WITH THE LAND TO WHICH IS.ATTACHED A COPY OF THE ORIGINAL COVEN- ANT TO RUN WITH THE LAND BEING ATTACHED HERETO AND MADE A PART HEREOF. WHEREAS, on August 18, 1972, Paul L. Lowman and Barbara J. Lowman, his wife, executed a Covenant to Run With the Land to the City of Miami, which was duly recorded in Official Records Book 7878, Page 271, of the Public Records of Dade County, Florida; and WHEREAS, Mr. and Mrs. Lowman have conveyed all of their interest in and to the real property described in said Covenant to Hessen, Lazare & Feisler, a partnership; and WHEREAS, Adair Mortgage Company and Union Mutual Life Insurance Company have made financial committments to provide IM IIIIIAHhIIIAOuoiirio i:� 4 Hessen, Lazare & Feislerwith financing, but require an Assignment of Covenant to Run With the Land from Mr. and Mrs. Lowman and to also contain a Consent to said Assignment of Covenant from the City of Miami; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The Consent to Assignment of Covenant to Run With the Land, as reflected in the document attached hereto, be and the same is hereby approved. Section 2. The City Manager and City Clerk are hereby authorized and directed to execute on behalf of the City of Miami the Consent to said Assignment of Covenant. Section 3. The proper official of the City of Miami is hereby authorized and directed to record the Assignment of Covenant to Run With the Land in the Records of Dade County, Florida, at the expense of the makers thereof. PASSED AND ADOPTED this cday of, PREPARED AND APPROVED BY: PREPARED AND APPROVED BY: REVIEWED BY: Za."047 1973. R. Harri Turner, Asst. City Attorney Harold Young, Ass. Cant C' Attorney Y John S. Lloyd, Assistant to Director APPROVED AS TO FORM AND CORRgCTNESS: r � Alan H. Rothstein, City At, :orney 2 • ASSIGNMENT OF COVENANT TO RUN WITH THE LAND WHEREAS, a covenant to run with the land was entered into on the 18th day of August, 1972 by and between PAUL L. LOWMAN and BARBARA J. LOWMAN, his wife, and the City of Miami, a municipal corporation of the State of Florida, wherein certain land described therein were to be benefited by the covenants contained therein, a copy of said covenant being attached hereto and incorporated herein, and WHEREAS, PAUL L. LOWMAN and BARBARA J. LOWMAN, his wife, have conveyed all of their interest in and to the property described in the aforesaid covenant to HESSEN, =& FEISLER, a partnership, which intends to construct on said site a 52 unit residential apartment building; and WHEREAS, ADAIR MORTGAGE and UNION MUTUAL LIFE INSURANCE COMPANY have made financial commitments to provide HESSEN, = & FEISLER with financing for the aforedescribed project; and WHEREAS, HESSEN, = & FEISLER and ADAIR MORTGAGE and UNION MUTUAL LIFE INSURANCE COMPANY are desirous of securing and perfecting for themselves the same rights and benefits originally granted and secured by PAUL L. LOWMAN and BARBARA J. LOWMAN, his wife, from the City of Miami. NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS that PAUL L. LOWMAN and BARBARA J. LOWMAN, his wife, 5099 Ponce de Leon Boulevard, Coral Gables, Florida, assignors, for a valuable consideration to them in hand paid by HESSEN, = & FEISLER, a partnership, ADAIR MORTGAGE COMPANY, and UNION MUTUAL LIFE INSURANCE COMPANY, assignees, hereby assign unto the assignees, their heirs, successors and assigns, all of their rights under a covenant to run with the land made by them with the City of Miami, Florida, dated the 18th day of August, 1972; 'j44 7'3-9 TO HAVE AND TO HOLD the same, to the said =MEM FEISLER, a partnership, ADAIR MORTGAGE COMPANY, and UNION MUTUAL LIFE INSURANCE COMPANY, absolutely and to the extent necessary to perfect their respective interests in and to the following described parcel of land, to -wit: Tract 28, and the West 5 feet of Tract 29, less the South 5 feet thereof, of NORTHWEST SEVENTH STREET OF GARDEN HOMESITES, according to the Plat thereof, as recorded in Plat Book 40, at Page 28 of the Public Records of Dade County, Florida. The assignees do hereby accept the assignment of the contract herein mentioned and the assignees to the extent of their interest in said property which they now or in the future shall hold do hereby covenant and agree to perform all of the terms, conditions and agreements contained herein on their part to be performed. IT IS FURTHER mutually agreed that as long as the interests of ADAIR MORTGAGE and UNION MUTU AL is limited to a security interest into the aforedescribed property, said ADAIR MORTGAGE and UNION MUTUAL shall no way be liable to the assignor as a result of any failure to perform any of the covenants, conditions and obligations contained herein by any of the assignees. IT IS FURTHER mutually agreed that at such time as the security interest of ADAIR MORTGAGE and UNION MUTUAL vests from a security interest to a possessory interest in the aforedescribed real property, said ADAIR MORTGAGE and UNION MUTUAL shall be bound to perform all of the terms, conditions, obligations and covenants contained herein on their part to be performed. This Assignment of Covenant To Run With the Land shall in no way affect, alter, change, modify or affect the original covenant to run with the land executed by PAUL L. LOWMAN and BARBARA J. LOWMAN, -2- P*4 '13-6y his wife, dated August 18, 1972, recorded in the Public Records of Dade County, Florida, in Official Records Book 7878, Page 271 on September 6, 1972. 2/ day of t s.. , 1973. DATED this • C„ . /r mum i < < .c ASSIGNORS: PAUL L. LOWMAN (SEAL) c'_ t c(.. �. 1 � -1 e 1 ,..... (SEAL) BARBARA J. LOWMAN, his wife ASSIGNEES: - 3 .. HESSEN, NIXIE=& FEISLER, a partnership (SEAL) Stephen Hessen, Managing Partner ADAIR 14O • TGAGE COMPANY By (SEAL) UNION MUTUAL LIFE INSURANCE COMPANY B ,�- Second Vice Presidr�ent-' ; (SEAL • 1, STATE OF FLORIDA ) COUNTY OF DA.DE ) BEFORE ME, the undersigned authority, this day personally , who is the nscistant Vi rP president appeared M, L. Ely ss. of ADAIR MORTGAGE COMPANY, who, after being by me first duly sworn deposes and says that he has read the foregoing Assignment of Covenant to Run With the Land and that he has signed same for the purposes and intentions contained therein. SWORN TO AND SUBSCRIBED before me this 29th day of August , 1973. My Commission Expires: BECKY B. Pro; TOWER Notary Pubh , C•iecrur era+a My Commission EN.; ,res Jan. 31, 19; 7 z NOTARY PUBLIC, S • �' . • • ale' df Floi�'id��-= J at large 1 CITY OF MIAMI'S CONSENT TO ASSIGNMENT In consideration of the foregoing mutual covenants and the assi n- assi nees' acceptance of the obligations contained in the foregoing g g ment, the CITY OF MIAMI, Dade County, Florida, consents to the foregoing assignment and the terms and ondition L v 1973. DATED this day of CIT OF MIAMI City Manager (SEAL) Attest: _. City Clerk ST.A TE' OF FLORIDA ) SS. 'G't3Uti'T • OF DADS ) , - BEFORE ME, the undersigned authority, this day personally appeared as City Manager of the City of Miami, and , as City Clerk of the City of Miami, who, �— ose and say that they have read the after being by me first duly sworn dep foregoing instrument and that they have signed same for the purposes and intentions contained therein. day of SWORN TO AND SUBSCRIBED before me this , 1973. My Commission Expires: NOTARY PUBLIC, STATE of FLORIDA at LAME MY COMMISSION LX.Pli;'ES MAY 10, 1974 eatJULD TliFtOtk.H i HI.) W. Oil 1ii HHORST NOTARY PUBLIC, State of Florida at large -4 _ 1144 1-01 MA INE STATE OF natale i ss. COUNTY OF katYk ) CUMBERLAND BEFORE ME, the undersigned authority, this day personally , who is the of Vice President appeared James F. Keenan _ of UNION MUTUAL LIFE INSURANCE COMPANY, who, after being by me de oses and says that he has read the foregoing Assignment first duly sworn P of Coven ant to Run With the Land and that he has signed same for the purposes and intentions contained therein. SWORN TO AND SUBSCRIBED before me this 21st_ day of January �• t973. NOTARY PUBLIC, Statef offilorictic,"� at large e.:. ' My Commission Expires: if, 13 -el STATE OF FLORIDA ) ss. COUNTY OF DAD,E. ) BEFORE ME, the undersigned authority, this day personally appeared PAUL L. LOWMAN and BARBARA J. LOWMAN, his wife, who, after being by me first duly sworn depose and say that they have read the foregoing Assignment of Covenant to Run With the Land, and that they have signed same for the purposes and intentions contained therein. SWORN TO AND SUBSCRIBED before r_:e this day of 1973. My Commission Expires: -5- NOTARY -PUBLIC, at large STATE OF FLORIDA ) ss. COUNTY OF DADE ) BEFORE ME THE undersigned authority, this day -personally appeared, STEPHEN HESSEN, the Managing Partner of HESSEN, & FEISLER, a partnership, who, after being by me first sworn, deposes and says that he has read the foregoing Assignment of C, ve :ant to Run With the Land, and that he has signed the Assignment for the .rposcs and intentions contained therein. SWORN TO AND SUBSCRIBED before me thi- day of , 1973. NOTARY PUB; ; i -.ate of Florid?/1,, at large My Commission Expires: Notery Pet ' , State of rtorida of Largo My Commission Expires Nov. 12, 1976 This Instrument Executed Pursuant to Resolution No. 73-69 Passed and Adopted January 25, 1973 APPROVED AS TO FORM APPROVED A DESCRIPTION City Attorney G //f`t. 44.„. Diregtor , This Instrument Processed Anthony C. Bacotti Department of Public Work- City of Miami, Florida >( of 'ub i Works 1 ls • b.,= fr t aRI'v Kr li.