Letter from Brian Tague, Tew CardenasTEW • CARDENAS l.la>
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NIAVI ~ TA LL.1H Ae SCL ~ NA9NIFCTON llC
Ftr,pund In: BLian Ta;;uc
Ititecl: 13aci Sib-N130
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tv'larch 31, 2009
Cite of \liami Beach
1?00 Convention Ccotcr 1)t'ive
~9iami Beach, Florida 33139
:\1ut: Tint liernstrenl
Scott Robins Companies, Inc.
i'urdv ParotersL)L) L.I.C'
149 Purdy Partners, L.LC'
Bav Koad Fanners, LLC'
230 Piftlt Street
Tv'liami Beach, Florida 33139
;1ttn: Scott Robins
Re: A~reclnent (the''.~greement") by and bebveen City of \~9iami Beach ("City") and
Scott Robins ('oropanics, 6tc., Purdy Partncrsl9L) LLC, 1 fi~9 Purdy Manners, LLC
as partially :tssi,~ncd to Bay Road Varutcrs, LLC (all collectively "Seller"1. All
capitalized tents used herein without being dclined )rave the meanings ascribed to
Ihern in the agreement.
Ladies and Cicntlcnten:
1'Ve herehy confirm out' agreement to act as Gscro+~• Agent in connection ++ilh the First
Closing of the Agreement on the tet'ms and conditions specified in This letter. 14'e hereby
ackno++•led~c receipt of the C'anccllation of Memorandum ("Cancellation") esecutcd by City and
Seller, a copy of which is attached hereto as Exhibit A.
)f the Financing Contingency is oot satisfied and the Agreement is turntinatcd pursutuu to
Section 8.1(d)and such terntinution is not tendered void, Escrow Agent shall record the
Cancellation in the Public Records of Riiami-llade Cottnly- Florida simultaneously with the closing
that occurs pursuant to Section S.1(d)(i)(y) or Section 3.1(d)(i)(,z) of the Agreement, +vhichever is
applicable; provided, however. if prior w recording the Cancellation Gset'ow Agent receives ++ritrou
notice Goat either City or any entity complisin~ Scllet' oot to record the Cancellation. then and in
that event Escrow At~enl shall continue to hold the Cancellation until such time as either:
i} C'ily and Seller.loinlly instruct Escrow Agent in +vrilin~ specifying+a~hat kt do with
the Cancellation: or
ii) a court having.lurisdiction has issued a final non-appealable order' iusuucting
Nscrow :lecltt what to do with the C'anccllation.
~lotwiths4mdine anything to the contrary Escro+m' A~enr may al any tints elect to deposit the
Cancellation +a ilh a coon of competutt jurisdiction and commence an action for interplcader, the
costs ul' which will he home equally by City and Seller. City and Seller shall reimburse Lscrow'
:Agent for all atu)ntcys' fees and court cost, incurred by Escrow ;Agent in connection lhere+vith.
Upon Lsctti+v Agent tal.ing of any of the actions in accordance ++'ilh the iustruetious
specified ahc» a (cithor (i) or (ii)) or i f Escrow :Agent shat l commence an action for inter)tlcader
Lscrow• Agent shall be released fi'om xll obligations hereunder.
a) Lscrow Agent is acting as a depository only and is not. responsible or liable in any
nt.nmer whatsoever for the sufficiency, eorrcctness. genuineness or validity ofany inslnununt
deposited wish it or any notice or demand g ivun to it or for the form of execution of such
inshuutent. notice or dcntand, or tot' the idenli fication, authority or rights ofany person executing,
depositing or' giving the same or lix the tetras and conditions of arty insu'untent, pursuant lu +vhich
the parties Wray act.
h) Escro+v Agent shall nut have any duties or respousibilitics; cxcopt thoso set forth in
this liscrow Agreement and shall not incur any liability in acting upon any signature; notice,
dcntand, request, waiver, consent; receipt or other paper or docurrtcnt believed by Escro+v Agent to
be a~cnuinc. Cscro+v Agent may assurnc that arty pet'sou purporting to give it airy notice on behalf
ofany party in aecot'dance with [he provisions hereof has been duly authorized to do so, or is
othet~+ise acting or failing to act under ibis Fscro+v :lgrocment except in the case of Fscro+v'
;'lgeut's gross negli_ence or willlul misconduct.
A'c'ithoul limiting the ,~cncralitY of any of the foregoin, Lscrow Agent shall not. he
liable li)r any loss of damage resullin~ 1-tom the lollowiug:
(1) The eflcct of the hausaction underlying this escrow of of any element.
of that transaction, including without limitation, the financial status or insoh-cnc_~' of any
other party, and anv utisrepresentation made by any other party.
(Z) Any legal effect, insufticicncy, or undesirability of any instrument
deposited with or delivered by Fscruw Agent or exchanged by the panics hereunder'.
whedter or not Fscro+v ;~~~ettt pt'cpared such inslruntcnt.
(Z) Che default, crTOr, action or omission ofany party to the esct'ow.
(4) Csct'oty Agent's compliance ++•ith arty Iegal process, subpoena; writs.
orders, .judgutents and decree ofany court wdtelher issued with or without jurisdiction and
whether or not eottscquently vacated, nu)dilicd, sot aside or reversed.
c) The ternts and provisions of this Fscrow :ya-ceanent shall create no right in anp•
person, lirm or corporation other than the patties hereto and their respective successors and
pennitled assigns and no Hurd party shall have the right to ctitorce or benefit from the terms hereof.
d) Escrow Agent has executed this Gscro+v Agrewnent far the sole purpose of agreeing
to act as escrow' agent in accordance with the touts Of this Hscrow :lgreutnent and the terms of the
1~~recntcut.
c) This escrow agreement may be signed iu one or more countcepau'ts. each of which
shall he dcented an original, but all of which together shall constitute one original document.
'I'r.w ('.aleurx ~; LLP 123:69 I
Four Sca>.n;lewcr. lth floor, Iltl Rr:ckcll A~c:tuc.\lounti. Pfurida iU?I~?4U?•pi-;,ib~l li^_
:\ddilionally, lacsimilz signatures on counlelparts of this escro\v agreement are hzreby authorized
and shall be acknom~icdecd as if such facsimile si~mauu-es were an original execution.
[) Escrow Agent is Icgal zounsel to City. Lt the event of any 1iti~ation behvccn City
and Seller, Iacrow Aeent shall be entitled to rzprescnt City, and Seller hereby waives the rigPlt to
file auv objection thereto arising from this letter or Escro\v :\gcnt's services hereunder.
g~ \oticc shall he effective upon receipt if dclir°cred to the parties at the addrzsses set
I~,rth abovz.
Tf you agree \vith the terms and provisions ol'this Gscro\v A~eement. please ackno\\iedgc
your agreement by executing in the space provided Fizlow and returning a copy of this letter to the
undcrsicned via facsirnilc.
Very truly yours,
n 1'ague
For the Firnt
SF.I:I.F,R:
SC:U'1"i' ItOBI~`S C'OWP.aVIIrS, IVC.,
a Flot'ida corporation
By: -
Scott Rubins. President
Pi:RDI PAR1'NLRS, i.I:C
a Florida limitzd liability company
By: Purdy Partners S12C. T.T:C'. Niauagir
Scott Robins, b'lanavin~~ ~~icmbcr
fSi;{mNtrrr~~ rnxtiuue err tlr. ~Ollp rt ll!; pag,;!
Tru~ G~aur.nas LLP 52'_'169_ I
Fero Sea>one Tower. 19th Plaoe 1441 Driekcll Ac, nnc. Miamr, I IoriJa 33151-i40? • :P<-S:G-1112
(:$lquano~ea• (~onrinerr~(,1irn» En~c•tivauro p(rgej
APPROVED AS TO
FORM & LANGUAGE
tk FOR ELUTION
,cam %~ ~tii, 3 zip tf~
- It rney ate
PI!RllY' I';~RT\L•:Rti 1919, 1:LC
s Florida limited liability company
13y: Purity Partner's 1919 SRC', LLC.
Manager
13v:
Scutt Rubins, \4anaging 1`lcmbcr
IR49 PCRI)1' PAR1:Vb:RS, LLC
a Florida limited liability company
Bv: PurdY Yaruiers 1 b49 SRC, LLC.
DTanagcr
B ~•: --
Scott Rubins, ~'Iana~inc J~lembcr
AAY RQ:~D P:`,K'fnF.RS, LLC
a Flot'ida limited liability company
l;v: Bav Itoael Partners SRC. LLL'
B v:
Scow Robins, ~Tanaging \4embcr
CI'f Y:
CITY OF ~71AMI 13lJACH, FLORIDA, a
municipal corporation oftltc Slalc oI Florida
A'1"fF:ST:
Tew Cnl(oFV.~i I.LP i'_?tfi9 I
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