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DD 30 I (2) BOOK 3300 P.tiGc 7:3 THIS AGREEMENT, Made and entered into this~~~ay of ~A- V _. A. D. 19\.~ by and bet1;Jeen JOHN N. HURRELL and If, / DANIELAREDFEARH, as Receivers for Deauville Corporation, a cor- poration organized and existing under the lavJs of the State of Delaware, duly qualified and acting, having been heretofore ap- pointed as such Receivers in that certain case now pending in the United States District Court in and for the Southern District of Florida, Niami Division, bearing No. 1148-N-Civil, entitled Lucy Eristavi-Tchitcherine et al, Plaintiffs, versus Deauville Corpora- tion, etc., et aI, Defendants, Parties of the First Part, herein- after referred to as the "OvJners" and The Hestern and Southern 1..... Life Insurance Company, an Ohio Corporation, Party of the second part, hereinafter referred to as the "Lienor", and the CITY OF ML4JH BEACH, a Florida Nunicipal Corporation, Party of the third part, hereinafter referred to as the "City", . WIT N E SSE T H : 'dHEREAS, Deauville Corporation is the owner of the fee simple ti tle in and to the follovJing described land, situate, lying and being in the City of Miami Beach, County of Dade, State of Florida, to-,.,i t: Lot Twenty-eight (28) of Block Three (3) of the SECOIID OCEAN FRONT SUBDIVISION, according to the Amended Plat thereof, recorded in Plat Book 28, at page 28, of the Public Records of Dade County, Florida, and :'IHEREAS, the"Lienor" is the mmer and holder of a mortgage encumbering said land, and WHEREAS, the City Council of the City of Miami Beach deems it to be to the best interest of the "City" to acquire, for the use of the public, an easement across the easterly portion of said land, for the purpose of widening Indian Creek Drive, a public street in said City, for street and sidewalk purposes, said easterly por- -1- / OFFI'CE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA BOOK 3300 PAGE 1Z,1 tion of said land being hereinafter more fully described, and vlHEREAS, the "Owners" have indicated their willingness to dedicate to the public for street and sidewalk uses, said strip of land, and the "Lienor" has expressed its willingness to release said strip of land from the lien of its mortgage, both in con- sideration of the filling, by the "City", at the "City's" expense, of a tract of submerged land noW lying westerly of and adjacent to the lands hereinbefore described, equal in depth and area at least to the depth and area of the strip of land to be required by the "City" for the street and sidewalk purposes hereinbefore referred to, said fill to consist of material to be dredged from Indian Creek and to be filled to an elevation of at least 2.5 feet above mean high water, and \IHEREAS, the construction of a seawall or bulkhead is deemed by all the parties hereto to be necessary for the purpose of re- taining and protecting the fill to be made by the "Ci tytl as afore- said and to be of special benefit to the land so filled and to the land adjacent thereto and hereinbefore described, and \'nIEREAS, it is desired by the parties hereto that the full cost of the construction of the seawall or bulkhead, hereinbefore referred to, shall be met in the first instance by the "City" and that a portion of such cost shall be assessed against the land filled as aforesaid and the l~~d hereinbefore described, the construc- tion of said sea-vIall or bulkhead and the assessment for the cost thereof to be done and performed substantially as provided for in Sections 29 and 30 of the Charter of the "City". NOVI, THEREFORE, in consid.eration of the mutual covenants hereinafter set forth, the parties agree as follows: 1. The "O'mers" have deposited a Deed of Dedication and the "Lienor" has deposited a "Release of Lien", both documents describing -2- OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA ./ BOOK 3300 PAGE 75 the strip of land off of the easterly side of the land herein- before described which it is contemplated will be used for street and sidewalk purposes, with the City Clerk of the "City", which Deed perpetually dedicates said strip to the use of The Public and which Release discharges the "Lienor's" Lien as to said strip. 2. The said Deed and Release above-mentioned shall be re- tained by the said City Clerk until such time as the City Engineer of the "Ci tyll shall have certified to him, in "Jriting, that the filling and bulkheading to the west of said land has been substan- tially completed as herein contemplated, and there has been pro- cured by the "Cityll at the "City's" expense, and delivered to said "Owners", a deed from the Trustees of the Internal Improvement Fund of the State of Florida, conveying to DEAUVILLE CORPORATION, a Delaware corporation, that certain tract of submerged land bounded as follovlS: Bounded on the westerly side by a portion of the line described as follows: Beginning at a point on the westerly extension ~fthe northerly line of Lot Twenty-six (26), Block Three (3), Amended Plat of Second Ocean Front Subdivision, accord- ing to Plat thereof, recorded in Plat Book 28, page 28, of the Public Records of Dade County, Florida, said point being thirty-five (35) feet westerly of the westerly line of said Block Three (3); thence run in a northerly di- rection to a point on the westerly extension of the north- erly line of Lot Twenty-eight (28) of said Block Three (3); said point being forty (40) feet westerly of the westerly line of said Block Three (3); bounded on the southerly side by the westerly extension of the southerly line of said Lot Twenty-eight (28) to its intersection with the above described westerly boundary, said point of inter- section being forty-one (41) feet, more or less) westerly of the westerly line of said Block Three (3); bounded on the northerly side by the westerly extension of the northerly line of said Lot Twenty-eight (28) to its inter- section with the above described westerly boundary, said point of intersection being forty (40) feet westerly of the westerly line of said Block Three (3); bounded on the easterly side by the westerly line of said Block Three (3); whereupon said City Clerk shall make such disposal of said Deed of Dedication and Release as shall be directed by the City Manager of said City. -3- OFFICE OF CITY ATT1lRNEY - CITY HALL - MIAMI BEACH 39, FLORIDA BOOK3300 P.~GE 76 3. The additions to Deauville Corporation's land by reason of such bulkheading and filling shall be encumbered by "Lienor's" lien to the same effect and extent as though the same had been in existence at the date of said lien and had been expressly described in and encumbered thereby as a part of the original security thereof. 4. The "Ovmers" and the "Lienorll do hereby waive any and all irregularity and defects in the various proceedings incidental to the assessing of the ltO,merslll property (including additions made by bulkheading and filling but excluding the part thereof to be used for street purposes as herein contemplated) and they do waive any and all objections to the legality of the assessment herein provided for, and the power and authority of the "City" to make such assessment, and they do waive all notices required for the purpose of making a final, binding and valid assessment against said lands for bulkheading the same and they severally agree that the pro-rata cost of such bulkheading, determined substantially in the manner provided by the Charter of the City, shall be and constitute a valid and enforceable lien in favor of the City against the said land of Deauville Corp~a- tion (including additions made pursuant to the plan above set forth and excluding the portion thereof to be used for street and sidewalk purposes), which lien shall be superior to ltLienor's" lien against the same, and said assessment lien of the City shall be as effective as though each and all requirements of law relative thereto had been followed and observed without any deviation, error or irregularity whatsoever, and this agreement, without any other thing or act what- soever, shall be sufficient to create such lien as of but not prior to the completion of the work to be done by or under the direction of the City, either by its O1m personnel or by independent contractor, at the option of the "Cityll. -4- OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA SqOK 33(;0 PAGE 77 5. The pro-rata cost of bulkheading which shall be assessed against the said land of Deauville Corporation shall be payable in ten equal, annual installments, begilLning one year after the com- pletion of said bulkheading, with interest from said date of com- pletion at the rate of 4% per annum, payable annually upon sums remaining from time to time unpaid, provided the "Ovmers" shall have the option to pay the entire assessment together with accrued interest, at any time; provided, hovrever, that the principal amount of such assessment shall not exceed the sum of $35.00 per lineal fod of bulkhead. 6. The amount to be assessed against Deauville Corporation's property for said bulkheading shall be fixed and determined sub- stantially in the manner set forth in the Charter of the City to the end that each property owner shall bear no more than a just share of the cost of improvement made in the area of his property. 7. The widening and paving of Indian Creek Drive shall be undertaken, commenced and completed in the shortest practicable time after the required right of way shall have been obtained to the end that the purposes and objects hereof may be consummated and realized as soon as possible and the "City" agrees that the full cost of paving, sidei.ralks and street lighting "rill be borne by the ItCi ty". 8. If any part of the land described in the documents de- posited as above recited shall be entered upon by the lfCityl1 and ivork shall be commenced for the purpose of widening Indian Creek Drive, then the City shall be obligated to complete the same and to carry forward to completion the work of bulkheading and filling as contem- plated hereby. 9. The right of the City to assess the cost of bulkheading as herein contemplated against the said land of Deauville Corporation shall not be dependent upon the beginning or completion of the vrork of ,.ridening Indian Creek Drive, but if the ItCi tyll commences the vlOrk of bulkheading and/or filling on the ground as herein contemplated, then it shall be bound and obligated to complete the same, whereupon -5- OFFICE OF CITY ATT1lRNEY - CITY HALL - MIAMI BEACH 39, FLORIDA ~ BOOK 3300 PAGE 78 it shall be entitled to assess the cost of the same against the property of Deauville Corporation as herein contemplated. 10. The filling and bulkheading herein contemplated shall be substantially completed not later than September 1, 1950. 11. If the filling and bulkheading herein contemplated shall not have been substantially completed by the ~ate mentioned in Para- graph 10 above, then the "Owners" and "Lienor" shall have the right to withdraw the documents deposited as above recited with the City Clerk of the City, upon demand and without prior notice. 12. If at any time prior to actual commencement of the work upon the ground, the "City" shall determine not to undertake the work of bulkheading and filling herein contemplated, it shall return the documents deposited as above set forth to the "O"mers" and "Lienor" "Thereupon this agreement shall be at an end and there shall be no liability on the part of the "City" to either "Ovrners" or "Lienor". 13. After September 1, 1950, this agreement shall in any event be at an end and the "City's" right, title and interest in the lands above described shall rest and depend solely upon the documents de- posited hereunder, provided the "Cityll shall have become entitled to take possession of said documents by doing the work herein contemplated, and after the date last mentioned no person shall be charged with notice hereof or of any claim or interest in said lands by virtue hereof on the part of said "City" and thereafter all persons dealing with the "O"mers" or with the "Lienor" relative to the property of Deauville Corporation shall be entitled to treat this document as a nullity and as an option which has expired, provided the expiration of this document by limitation of time shall not in any wise affect the ItCity's" lien acquired by actually doing the bulkheading at or adjacent to the 1l0wnersll property as herein contemplated, by the doing of ,v-hich the "Ci ty" shall become entitled to the documents deposited hereunder as above recited and to a lien therefor as herein provided; and the ltCity" agrees that it ..Till execute and deliver any further document deemed necessary by the "Ovrners" or -6- OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA BOOK 3aOO PAGE 79 f1Lienorfl for the purpose of relinguishing any rights acquired hereby, in the event the work herein contemplated is not under- taken by the IlCityll, provided that one blanket document shall be deemed sufficient for all 1l0wnersll and Lienors" in the event such should become proper by reason of the "Cityl Sll failure to do the work contemplated. 14. f10wnerslfl property which is to be used for street and sidaGlk purposes is described as follows: Beginning at a point which is the intersection of the southerly line of Lot Twenty-eight (28), blook Three (3) of the SECOND OCEill~ }~ONT SUBDIVISION, according to the Artlended Plat thereof, recorded in Plat Book 28, at page 28, of the Public Rec ords of Dade County, J:i'lorida, and the westerly line of Harding Drive, as shown on said Plat, (now Indian Creek Drive); thence westerly along the said southerly line of Lot Twenty-eight (28) for a distance of thirty-seven (37) feet to a point; thence nortllerly along a line for a distance of seventy-nine and seven tenths (79.7) feet, more or less, to a point on the northerly line of said Lot 'I'wenty-eight (28), said point being forty (40) feet westerly of said westerly line of Harding Drive (now Indian Creek Drive); thence easterly along said northerly line of Lot rrwenty-eight (28) for a distance of forty (40) feet to a point on said westerly line of llarding Drive (now Indian Creek Drive); thence southerly along said westerly line of Harding Drive (now Indian Greek Drive) for a distance of seventy-nine and seven-tenths (79.7) feet, more or less, to the point of beginning. 15. Each and all of the tenns and conditions hereof shall be valid and binding and shall enure to the benefit of the respec- tive heirs, successors, legal representatives and assigns of the several parties and the record hereof shall be effective to that end, except as limited by Paragraph 13 hereof. IN WITNESS WHEREOF, the several parties have hereunto set their respective hands and seals as of the Qfllday orVl. ~ A. D. 1950. J~m. ~se.'l ~ 'fI. (Seal) Aseceivers 1'0 Deauvil~ Corporation, a orporation organized and xisting under the laws of the ate of Delaware. F MIAMI BEACH ~1~J Mayor THE WESTERN AND SOUTHERN LIFE. INSURANCE COMPANY ,,,,\\' l~!",,/ ...{ff~ . -~/ ,,# By - IJ >,",- .-:;,. Vice r~."".. '... //,. ,"_~ ~("+-'<'...il~ti~.:;l~ . .;::>. . . <". . ATTEST 1/ ,- '"' / . i -. ",.\ *---- /y~~~~~-:.'\,.--- ..;..../~"y Secreta-- ~o.. .-~ .' ... J '-. ~, _ ...._,..,~ _. ..- '.~ ;I _ '~-,4..""'",~.;}'ils;r<"', . OFFICE OF CITY ATT{)RNEY - CITY HALL - MIAMI BEACH 39, FLORIOA SOOK3300 PAGE 80 ss . state of 'Florida. County of Oade. " lhis instument was filed for record them_~/-dJY O~"":6--' 1950atP:~L':M and duly recorded IL~<<e?---------_._.-- Book____~.l1,€'_Of1 Page.Z"",f:ie No Z1<X.r?~.;r::- E. \:?'. LEATHERN1AN CIN;, CireUil Court B~_._.M?~k:$,e~!:~:L_..D.C. STATE OF FLORIDA: COUNTY OF DADE: WIT}~SS my hm1d and official seal at \\,.,.J;."" "', 'tt:. ,,<Qbt#;r",.,and State, this S- '.' , "', ~ ~~ ~~ t:- day of A. D. 19~. (. ','. '-,I' '"", " . --:"" .... .< 't.. / r........,...~ <I;. ' , .1, ~'c0mmission expires: i':';lJl" Notary Public, State of Large .;. ~', 1"'.1 t"" .........".. " , ((! (";." '. \ ..:- , ... L.~j <' ( - - - - - - - - - - - - - - - - - STATE OF FLORIDA: SS COUT'TY OF DADE: I HEREBY CERTIFY that on this day personally appeared before me, an officer duly authorized to administer oaths and take ack- nOvlledgmen ts President and Secretary, respectively, of The l.ifestern and Southern Life Insurance Company, an Ohio Corporation, to me well known to be the persons described in and who executed the foregoing instrument and duly acknowledged before me that they executed the same for the purposes therein expressed as the act and deed of said corporation. IN 1.JITNESS U}lliREOF, my official seal at of Florida, this I have hereunto set my hand and affixed County of Dade and State day of A. D. 19 . Notary Public, State of Florida; at Large My commission expires: Sf ATE OF OHIO, COUNTY OF HAMILTON, SS: I HEREBi CERTIFY that on this day personally appeared before me, an officer duly authorized to administer oaths and take acknowledgments, Wm. C. Willging and J. E. Meehan, Vice~President and Secretary, respectively, of The Western and Southern life Insurance Company, an Ohio Corporation, to me well known to be the persons described in and who executed the foregoing instrument and duly acknow- ledged before me that they execute~ the same for the purposes therein expressed as the act and deed of said corporation. , " ,'''''.../. IN W:ITNESS WHEREOF, I have hereunto set Il\Y hand and affixed ll\Y~rii:~~~..~(~J;.~ , . 1<"'" ,. ". )- -;;:.. at Cincinnati, County of Hamil ton and State of " this 11th day ~ii- .M,ay;/ A,D. ". 0-. 1950 ::',,: ":..': ~, . ::- :0,. :~; _ . ~~ l' "" My Commission Expires: September 3, 1950. OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA