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Report to Agent on Status of Title File No. 300902408Chicago Title Insurance Company 6600 N. Andrews Avenue, Suite 300, Ft. Lauderdale, FL 33309 (954)971-2200 FAX (954}971-4111 REPORT TO AGENT ON STATUS OF TITLE File No.: 300902408 Agent Order/File No.: BAY ROAD OUTPARCEL To: Tew Cardenas, LLP ATTN: Irma S. Duran 1441 Brickell Ave, Four Seasons Tower, 16th Floor Miami, FL 33131 This report on the status of title is being furnished at your request to assist ir. the preoaretion of a CHICAGO TITLE INSURANCE COMPANY (the Company) title insurance commitment and policy to be ssued by your office. Only the result of an examination of the record title are reflected herein. After you have reviewed this report, you must still - (a) Add requirements to Schedule 8 you find necessary from your analysis of the present transaction, surveys, prior title evidence and exceptions to Scnedule B reflecting matters you mey have actual knowledge of which are not a;ready shown in Schedu'e B. ib) Review the transaction in accordance with critoria discussed in :he Standard Underwriting Risk section of the Undowmling Guide (c) If the amount of the policy(Ies) to be issued exceed your agency limits obtain written authorization to issue the commitment from the Company. This report is NOT authorization to issue the commitment. This report has been furnished to you In a format that will allow for part of it to be used as the Inserts for the title 'nsurance commitment to be issued. You will need to complete Schedule A as well as add any additional requirements you deem necessary as a result of the abovo. You must keep a copy of tho entire report in your file. 'This report consists of the following: This leader sheet Scnedule A Schedule B -Section 1 Schedule B -Section 2 NOTE: Persoral property tax information has NOT been searched THIS REPORT IS PROVIDED FOR THE SOLE PURPOSE OF THE ISSUANCE OF A CHICAGO TITLE INSURANCE COMPANY COMMITMENT AND POLICY BV 7HE ADDRESSEE AS AUTHORIZED BY THE COMPANY. CHICAGO TITLE INSURANCE COMPANY DISCLAIMS LIABILITY TO THE ADDRESSEE OR ANY THIRD PARTY IN THE EVENT THIS REPORT IS USED FOR A PURPOSE OTHER THAN AS STATED. Dated: March 25 2009 CHICAGO TITLE INSURANCE COMPANY By Pat Guilmette Chicago Title Insurance Company COMMITMENT FOR TITLE INSURANCE SCHEDULE A Agent OrderlF Ie No : BAY ROAD OUTPARCEL Title No.: 300902408 1. Effective Date: March 2, 2009 at 11:00 PM 2. Policy or Policies to be Issued: (a) ALTA Owner Policy (10-17-92) with Florida Mod flcations Policy Amounb $ 3,580,000.00 Proposed Insured: Bay Road Partners, LLC, a Florida limited liability compary 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 4. Title to the estate or interest in said land is at the effective date hereof vested in: Edwin F. Gonzalez and Grace Gonzalez 5. The land referred to in the Commitment s described as follows: TREMONT LOWER PARCEL All of Lot 1 and Lot 2, less the North tour (4) feet of the East 112 of said Lot 2, Block 14-A, ISLAND VIEW ADDITION, according to the plat thereof, as recorded in Plat Book 9 at Page 144, and together with the East 12 of Lot 7 end all of Lot 8, Block 14, THE ALTON BEACH REALTY COMPANY'S PLAT OF ISLAND VIEW SUBDIVISION, according to the plat thereof, as recorded in Ptat Book 6 at Pago 115, both being recorded in the Public Recortl of Miami-Dade County, Florida The above described perimetrical boundary being below aievalion 20.80 feet, relative to the National Geodetic Vertical Datum of 1929. Underwritten by, Chicago Tdle insurance ComCany SCHEDULE a -PART 1 Agent OrderiFile No.: 300902408 The following are requirements to be complied with: 1. Instrument(s) necessary to create the estate or interest to be insured must be droperty executed, delivered and euly filed for record. A. Warranty Deed from Edwin F. Gonzalez and Grace Gonzalez, to the Proposed Ensured, conveying the lend described in Exhibi: B. NOTE: If the Grantor(s) is/are individuals and the Froperry is homestead properly, the spouse(s) of said Grantors} must join in the execution of the Deed. If not homestead, then a statement to that effect must be reflected on the Deed. B We will require compliance with Chapter 718 Ftorida Statutes for creation of a condominium. C. Record the Declaration of Condominium of Purdy Avenue Commercial Condominium, a Condominium. on the lands described in Exhibit B. Note: We reserve the right to make eddRional requirements or exceptions upon review of a copy of the fully executed and acknowledged Declaration of Condomini,am •eferred to above with all exhibits. Note: The legal description en Schedu~e A must be revised to reflect the new Legal description of the BRP Unit created by virtue of the Declaration of Declarebon of Condominium including the unit numbers and the recording information of the Declaration of Condominium. D. Quit Claim Deed from the City of Miami Beach to the Proposed Insured, conveying the BRP Unit created by virtue of the Declaration of Condominium, including tse unit number or description and the recording information of the Declaration of Condomin'um. Note: Deeds by a municipal corporation usually are signed in the name of the city or town by the mayor or soma other person authorised by the charter, in the oresence of two subscribing witnesses. The conveyance also should be attested by the cRy clerk, sealed with the municipal seal and made upon a proper resolution oy the municipal ty's governing body authorizing a conveyance of the property. The Agent should determine that such a deed is executed by ar. official authorized by the charter and that it Is duly attested to by the city clerk. A Certificate from the City Attorneys' Office evidencing the proper adoption of the resolution should be attached to the deed of conveyance and recorded with it. NOTE: Closing agent must verify that the unit number or description that appears on the Warranty Deed is a Unit number that actually appears in the list of Units andlor the Condominium Sketch included in the recorded Declaration of Condominium. 2 Payment of the full consideration to, or for the account of, the grantors or moRgagors. 3- Payment of all taxes. charges, assessments, levied and assessed against subject premises, which are due and payable. 4 Satisfaction of the Mortgage and Security Agreement dated July 25, 2008 from Edwir F. Gonzalez and Grace Gonza'ez to Bank of Florida -Southeast, recorded July 31, 2008 in Official Records Book 26504, Page 4500, of the Public Records of Miami-Dade County, Florida, together with Release of the following collateral security Instruments. A. Assignment of Leases, Rents and Profds recorded in Official Rew•ds Boo< 26504, Page 4520. B. UCC-1 Financing Statement recorded in Official Records Book 26504, Page 4628. ALTA CanrniLnmiF 73a6 5. Affidavit to be recorded in the Public Records of Miami-Dade County. Florida, confirming that Edwin F. Gonzalez and Grace Gonzalez have been continuousty married to each other from a date prior to October 20, 2000 through the date of closing. 6. Determination must be made that there are no unrecorded special assessment Ilens or unrecorded Ilens aris ng by virtue of ordinarces, unrecorded agreements as to :mpauK or other development fees, unpaid waste fees payable to the county or municipality, or unpaid service charges under Ch. 159, F.S., or county ordinance. 7. In the event the Company is requested to delete Items 2(a) through 2(d) of Schedule B -Section 2. the following will be required: A Owners No lien and Possession Affidavit in form satisfactory to the Company. The policy issued hereunder will be subject to a special exception for the rights of parties disclosed by said Affidavit. (Chapter 627.7842 Forida Statutes) 8. WRh regard to Bay Road Partners, LLC, a Florida limited liability company, the following is required. A. Satisfactory evidence must be furnished showing that Bay Road Partners, LLC is cu~rontly in good standing. (Note) Proof of the issuance of the Certificate of Organization by the Secretary of State in the event said company was formed prior to October ^, 1993. B. A certified copy of the ArtiGes of Organizaton and Operating Agreement must be furnished and the Compary reserves the right to make additional requirements and/or exceptions upor review of same, -or- Record in the Public Records of Miami-Dade County: Florkla, a Certificate from the keeper of the records of the cornpa~y certifying: 1. Whether the management of the company is vested in the members or in the manager(s); 2. The names and positions, if any, that the managing members have of the company, on the date of the Declaration of Cordominlum. C. Affidavit from the managing member or the manager(s), whichever is applicable. confirming the: there has been no dissolution of the company resultiny from transrers of member's interest, or othev+ise. END OF 3CHEDULE B -PART 1 AITA G:+mmitment-1968 SCHEDULE B -PART II Agent OrderlFi:a No : 300902408 Schedue B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed o` to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or othor matters, if any, created, first appearing in the Public Racortls or attaching subsequent to the effective date hereof but pricr to the date the proposed insured acquires for value of record the estate or interest or mortgage thereon covereo by this Commitment. 2 Standard Exceptions A. Rights or claims of parties in possession not shown by the Public Records. B. Intentionally deleted. C. lntenllonally deleted. p. Any lien or right to a tier, for services, labor or malaria's now or hereafter furnished, imposed by law and not shewn by the Public Records. E. Taxes or special assessments which are not showr as existing liens by the Public Records. F. Any claim that any portion o` said lands are sovereign lands of the State of Florida, including submorged, filled o' artificially exposed lands accreted to such lands. G. Taxes and assessments for the yea^ 2009 and subsequent years. Standard Exception 2(f) of Schedule B -Part II is hereby deleted. 3. Standard exceptions (B) and (C) may be removed from the policy when a satisfactory survey and surveyor's report and'nspection of the premises's made. 4. Standard exceptions (A) and (D) may be removed upon receipt of a satisfactory affidavit-indemnity from the party shown in title and in possession stating who is in possession of the lands and whether there are improvements being made at date of commitment or contemplated to commence prior to the date of closing which will rot have been paid for In full prior to the closing. 5. Matters set forth on the plat of ALTON BEACH REALTY COMPANY'S PLAT OF ISLAND VIEW SUBDIVISION, as recorded in Plat Book 6, Page 115. 6. Matters set forth on the plat of ISLAND VIEW ADDITION, as recorded in Pla: Book 9, Page 144. 7. Order of the Clty of Miami Boach Design Review Board recorded In Official Records Book 26628, Page 2828. f?. Subject ;o the terms and conditions set forth in that certain Conditional Use Permit recorded December 2, 2008 in Official Records Book 26669, Page 2501. NOTE: Division of LandlLol Split Final Order recorded December 2, 2008 in Official Records Book 26669, Page 2496. 9. Sketch of Survey made by Fortion, Leavy, Skills, Inc. dated Marcn 17, 2009, Job No. 090217 discloses the folowing: A. Possible unrecorded utility rights evidenced by Gght pole and drop pole, B. Encroachment of building overhang onto Lot 2, Block 14A. Standard Exceptions No. 2(b; and 2(c) era hereby deleted provided that a signed, sealed survey is proviaetl. ALTA Conanttmenb1966 11?. All the covenants, condlbons, restrictions, easements, assessments and possible Liens, terms and other provisions o! Declaration of Condominium of PURDY AVENUE COMMERCIAL CONDOMINIUM and Exhibits thereto, recorded in Official Records Book ,Page , of the Public Records of Miami-Dade County, Flo-ida, and as further amended, including, but not limited to one or more of the follow'ng: provisions for private charges o-assessments; liens for liquidated damages; andlor option, right of first refusal or prior approval of a future purchaser or occupant. NOTE: With respect to any Exceptior in Schedule B rattling covenants end restrictions said Exception(s) omits any covenant cr restriction based on race, color, relicion, sex, handicap, famiPal status or national origin unless and only to the extent that said coverant (a) is exempt under Chapter 42, Section 3fi07 of the United States Code or !b) relates to handicap but does not discriminate against handicapped persons. NOTE: All of the recording information wntalned herein refers to the Public Records of Miami-Dade County, Floritla, uNess otherwise indicated. END OF SCHEDULE B -PART II AL?A Commionent-1986 LEGAL DESCRIPTION EXHIBIT "A" TREMONT LOWER PARCEL Agent OrderlFile No.: 300902408 AI' of Lot 1 and Lot 2, Less the North four (4) feet of the East 112 of said tot 2, Block 14-A, ISLAND V1EW ADDITION, according to the plat thereof, as recorded in Plat Book 9 at Page 144, end together with the Eesl 112 of Lot 7 and all of Lot 8, Block 14, THE ALTON BEACH kEALTY COMPANY'S PLAT OF ISLAND VIEW SI~BDIVISION, according to the plat thereof, as recorded in Plat Book 6 at Paga ~ 15, both being recorded in the Public Record of M~aml-Dade County, Florida. The above described perimetrical boundary being below elevation 20.80 `eet, relative to the National Geodetic Vertical Datum of 1929. ALTA Commitment-1968 Fidelity National Financial, Inc. Privacy Statement Gf2'ective Datn: 51{/2008 Fidelity National Pinar-cial, lno, and its subsidiaries f,"F•KF") rospect the privacy and security of your non- public personal information ("Personal Information°) and protecting your Personal Information is one of our top priorities. 'f}tis Privacy Statement explains F1vF's privacy practices, including how we use [he Personal Information we roceive from you and from other specified sources, and to whom it may he disclosed. 1'NP' follows the privacy practices described in the Privacy Statement and, depending on the business performed, FNF companies may share information as described heroin. Personal Information Collected We may collect Personal Gtfonnation about you from the following sources: • Information we receive from you on applications or other forms, such as year name, nddress, social security number, :ax identilicatiur- number, asset information, and income inlormatior.; • [rformalion we receive from you through our Internet websites, such as your name, address, omail address, Internet Protocol address, the w•absite links you used to gat to our websites, and your activity while using or reviewing our wobsitcs; + Information about your tr ansactioru with or sen~ices performed by us, our a foliates, or others, such as information concerning your policy, premiums, payment history, information about your hemc or other real pruacrty, information from lenders and other third parties involved in such transaction, account balances, and credit card infermation; and + htformalion we receive from cortswner or other reporting agencies and publicly recordeddacuments. 1Disclosure of Personal Information We may provide your Personal lnfurnation {excluding information we receive from consorter or other credit reporting agencies) to various individuals and companies, as permitted 'ay law: w•ititout oblairung yor:r prior authorization. Such taws do not allow amsr:nters to restrict these disclosures. Disclosures may inclcde, without limitation, the following: • To insurance agents, brokers, representatives, support organizationx, or otltcrs to provide you wish services you have requested, and to enable us to detect or prevent criminal activity, fraud, malarial misrepresenWlion, or nondisclosure in comtection with an insurance transaction; • "I'u third-pang contractors or service providers for the purpose of determining your eligihility far an insurance benefit or payment and/or providing you with services you have requested; • To an insurance regulatory authority, or a law enforcement er other governmental authority, in a civil action, in connection with a subpoena or u governmemal investigation; • T'o companies that perform marketing sen~ices on our behnlf or to other f nancial institutions with which +ve `rave joint marketing agreements end/or • To lenders, lien holders, judgment creditors, or other parties claiming an encumbrance or an interest in title whose claim or irtcrest must bu determined, settled, paid or roleased prior to a title or escrow closing. VM'e may also disclose your Personal lnfornu~tion to others when we believe, in good faith, that such disclosure is rcasonab'.y necessary to comply with the law or to protect the safety of our cuswmen, empluycce, ur property andlor to comply with a judicial proceeding, court order or Icgal process. ALTA Commdm•n:-1956 E`,'f8ctivc llate: 5/1/2008 Disclosure to A(f':iated Cn~anics - We arc permil:cd by ;aw• to share your name, address and facts about your transaction with other PNP companies, such as insurance companies, agents, and other real estate sen•ico providers to provide you with sen•ices you have roquosted, for marketing or product develops+ent research, or w market products or services to you. We do nut, how•evc:r, disc:ose information we collect from consumer er credit reporting agencies with our affiliates ur others without your wnscnt, in conformity with applicable law, unless such disclosure is otherwise perntitlcd by law. Disclosure to NonrfFiiated.'I'hird Patiica - Vr'e do not disclose Personal Information about our customers or former customers to nonaffiliated third patties, except ax outlined herein or as athcnvisc permitted by law. ContSdentialily and Security of Personal Information V1'e restrict access to Personal Information about you to thoxe c:np!cyces who need to know that information to provide products or services to you. We maintain physical, elec:Inmic, and procedural safeguards that comply with fedoral regulations to guard Pcrsonnl Ir.furntation. Access to Personal lufa•mation/ Requests for Correction, Amendment, or Deletion oP Personal Informatiuu As required by applicable law, we will alli+rd you the right to access your Personal lnfornarior., under certain cin;umstancos to find out to whom yocr Personal lnformation has bwn disclosed, and request correction or dc'.etion of your Personal Infornation. However, FNF's curwnt policy is w maintain cusw;ngrs' Personal Information for no less thap_your stato's re uirc record ro1~11~Qn requirements for the ournyse of handling futuro cuvaraee_ Ir aims. Por your protection, la I requests made under this sgclion must be p w•ritint: and must in de vour notarized_ signature Ip establj~h Lur identi,>k. \Vherc pumitted by ;aw, we may charge a rcasunabie fee to cover the costs incurred in responding to sttch requests. Please send requests to: Chief Privacy Officer Fidelity 1\alional Financial, hr. 601 Riverside Avenac Jacksonville, PL 32204 Changes to this Privacy Statement , This Privacy Statement may be amended from time w lime consistent with applicable prvacy laws. When we amend this Privacy Statement, we will post a notice of such changes on our wcbsite. The el'iuctive dote of this Privacy Sta:emen[, as stated above, indicates the last iime this Privacy Statement was revised or materially changed. ALTA Gorrmllment• ~ 988 Exhlbk B All of Lot 1 and Lot 2, Less the North four (4) feet of the East 1!2 of said Lot 2, Block 14•A, ISLAND VIEW ADDITION, according to the plat thereof, as recorded in Plat Book 13 at Page 144, and toaethar with the F..ast 1±2 of Lot 7 and all of Lol 8, Blcck 14, THE ALTON BEACH REALTY COMPANY'S PLAT OF ISLAND VIEW SUBDIVISION, according to the plat thereof, as recorded In Plat Book 6 at Page 115, both being recorded in [he Public Record of Miami-Dade County, Florida. exhwn a 001815C033,r4w