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Covenant Running with the Land Regarding Crane Pad Removal a /409-2709S CFN: 20100642144 BOOK 27429 PAGE 275 • DATE:09/22/2010 08:12:52 AM HARVEY RUVIN, CLERK OF COURT, MIA -DADE CTY This instrument prepared by and after recording return to: Adam D. Lustig, Esq. Bilzin Sumberg Baena Price & Axelrod LLP 200 South Biscayne Boulevard, Suite 2500 Miami, Florida 33131 • COVENANT RUNNING WITH THE LAND REGARDING CRANE PAD REMOVAL KNOW ALL BY THESE PRESENTS THAT MBEACH1, LLLP, a Delaware limited liability limited partnership ("MBeachl") hereby makes, declares and imposes on the land herein described, covenants running with the title to the land, which shall be binding on MBeachl, its heirs, successors in interest and assigns, personal representatives, mortgagees, lessees, and against all persons claiming by, through or under them; WHEREAS, MBeachl is the fee simple owner of the property located at 1111 Lincoln Road and 1666 Lenox Avenue in Miami Beach, Florida, as more particularly described on the attached Exhibit "A" (the "MBeachl Property"); WHEREAS,. the City of Miami Beach, Florida, a municipal corporation of the State of Florida (the "City "), is the owner of that certain land located on Lincoln Road between Lenox Avenue and Alton Road, in Miami Beach, Florida, as more particularly described in the attached Exhibit "B" (the "Project Site"); WHEREAS, MBeachl has been constructing certain improvements on the MBeachl Property (the "MBeachl Improvements "), and in connection therewith, constructed a crane pad and foundation on the Project Site (collectively, the "Crane Pad ") for the use of a crane in connection with the MBeachl Improvements, the location of which is show on the attached Exhibit "C "; • WHEREAS, MBeachl has removed the crane but desires to keep the Crane Pad on the Project -Site; and WHEREAS, as a'condition to the City's agreement to allow MBeachl to keep the Crane • Pad on the Project Site, the City is requiring that MBeachl record a covenant against the MBeachl Property regarding the future removal of the Crane Pad. NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, MBeachl agrees as follows: 1. The foregoing WHEREAS clauses are true and correct and incorporated herein by reference. 2. As a material inducement for the City to agree to allow MBeachl to keep the Crane Pad on the Project Site, MBeachl agrees that to the extent the Crane Pad needs to be MIAMI 2118722.17678122013 removed in connection with any future improvements to be performed by the City on the Project Site, as determined by the City's engineers, the City shall have the right to demolish and remove the Crane Pad and restore the area in which the Crane Pad was located. MBeachl shall be responsible for reimbursing the City for the actual costs incurred by the City to demolish and remove the Crane Pad and restore the area where the Crane Pad was located, but not to exceed $10,000. 3. The provisions of this Covenant Running with the Land for Crane Pad Removal (this "Covenant ") shall become effective upon their recordation in the public records of Miami - Dade County, Florida, and shall continue in effect and be binding upon MBeachl, its successors in interest and assigns, for a period of thirty (30) years after the date of such recordation, after which time they shall be extended automatically for successive periods of ten (10) years each, unless released in writing by the then owners of the MBeachl Property and the City Manager, acting for and on behalf of the City of Miami Beach, Florida, upon the demonstration and affirmative finding that the same is no longer necessary for the purposes herein intended. 4. The provisions of this Covenant may only be amended, modified or released by a written instrument executed by the then owner or owners of the MBeachl Property, with joinders by all mortgagees, if any. Should this Covenant be so modified, amended or released, and the City Manager, approves, then the City Manager shall forthwith execute a written instrument effectuating and acknowledging such amendment, modification or release. 5. No modification, amendment, or release shall be effective without the City Manager's prior approval. 6. An action to enforce the terms and conditions of this Covenant may be brought by the City and may be by an action at law or in equity against any parties or persons violating or attempting to violate any provisions of this Covenant. The prevailing party to any action or suit pertaining to or arising out of this Covenant shall be entitled to recover, in addition to costs and disbursements, allowed by law, such sum as the Court may adjudge to be reasonable for the services of his attorney. This enforcement provision shall be in addition to any other remedies available at law, in equity or both. 7. Invalidation of any of these covenants by judgment of a Court of competent jurisdiction shall not affect any of the other provisions, which shall remain in full force and effect. 8. This Covenant shall be recorded in the public records of Miami -Dade County at MBeachl's expense. 9. All rights, remedies and privileges granted . herein shall be deemed to be cumulative and the exercise of any one or more shall neither be deemed to constitute an election of remedies, nor shall it preclude the party exercising the same from exercising such other additional rights, remedies or privileges. 10. Upon written request from MBeachl, the City shall provide MBeachl with an estoppel certificate regarding MBeachl's compliance with the terms of this Covenant. 2 11. Any and all notices required or desired to be given hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand (including recognized overnight courier services, such as Federal Express) or three (3) business days after deposit in the United States mail, by registered or certified mail, return receipt requested, postage prepaid, and addressed to the recipient at the address for MBeachl at 1111 Lincoln Road, Suite 760, Miami Beach, Florida 33139, or to the City at 1700 Convention Center Drive, Miami Beach, Florida 33139 (Attn: City Manager) (or to such other address as any party shall hereafter specify to the other in writing). 12. This Covenant shall be construed in accordance with, and governed by, the laws of the State of Florida. Venue for all actions under this Covenant shall be in Miami -Dade County, Florida. Signed, witnessed, executed and acknowledged on this f day of Aft , 2010. (J APPROVED AS TO FORM & LANGUAGE & FOR EXECUTION A a ,,, 40. I -. �[ 14te At1 ey Date L --7/2 o City Pia ing Director Date [SIGNATURES CONTINUE ON NEXT PAGE] 3 Witnesses: MBEACH1, LLLP, a Delaware limited liability limited partnership By: MBEACH1 GP, LLC, a Delaware limited liability company, its General Partner By: Urban Investments Advisors, LLC, a Delaware limited liability company, its Sole Member By: Wellspring Investments Management I, LLC, a Delaware limited liability company, its Managing Member Sign: ` Print let. A-00 w' Le/e /q f By: �/. Name: Robert S. Wennett Title: Managing Member Sign: (7, Print Ndrne 1 � J7 v STATE OF FLORIDA ) COUNTY OF MIAMI -DADE ) The foregoing instrument was acknowledged before me by Robert S. Wennett, the Managing Member of Wellspring Investments Management I, LLC, a Delaware limited liability company, the Managing Member of Urban Investments Advisors, LLC, a Delaware limited liability company, the Sole Member of MBEACH1 GP, . LLC, a Delaware limited liability company, the General Partner of MBEACH1, LLLP,. a Delaware limited liability limited partnership. He is personally known to me or has prod uced a driver's license as identification. Witness my signature and official seal this 4 day of, ,?,Qt , 2010, in the County and State aforesaid. , , o ;,.P� Heather Leigh a ,�� COMMISSION # 00939320 . EXPIRES: NOV.17, 2013 ,,9� • o . WWW.AARONNOTARY.com No r y Public -S t- • f 'Vida •,,, 1 LL.ic7' • ' Print Name My Commission Expires: /( fril JOINDER BY MORTGAGEE CORPORATION Sabadell United Bank, N.A., formerly known as Mellon United National Bank, being the holder of that certain Renewal Mortgage, Notice of Future Advance, Assignment of Leases and Rents, Security Agreement and Fixture Filing executed by MBEACH1, LLLP, a Delaware limited liability limited partnership, to Mellon United National Bank, a national banking association, dated June 26, 2008, filed June 27, 2008, in Official Records Book 26455, at Page 344, Public Records of Miami -Dade County, Florida (the "Mortgage "), hereby consents to the filing of, and agrees that the Mortgage shall be subject and subordinate to the terms of, the foregoing Covenant Running with the Land Regarding Crane Pad Removal. Signed, Se. led and Delivered Sabadell United 1 .nk, .A., formerly in the press' nce of: / know as Me Un ed National Bank Sign // . _ . JJI._ J By ; ! _ i vie i /' / Name: G- /1- ut" T • . A 17 4. e P✓ Prim . ame ( ( 1 Title:?.-- 'v . \ C e -- ?4 - e` - • ' 'elk T �U`P, Si � 241 q 1 Print Name M j 4 prof £ eir ly el - STATE OF FLORIDA ) ) SS: COUNTY OF MIAMI -DADE ) The foregoing instrument was acknowledged before me this 2 a day of d z37 , 2010, by fv; / /.gin 1. aj /A es Vice President of Sabadell United Ba, N.A., formerly known as Mellon United Nati nal Bank, on behalf of said bank. He /She is personally known to me or has produced a Florida driver's license as identification. --------------- 4 , y /- 7 ` ..\, \NE Ropo C 6 ). ... .�ssiotiF Nota / Public, State of Flor . w �� �y 12 ' 204 9 *. 1 ' *• ..•.• : *� My Cors3ol€E ires o i 99 a B onded lhN l:. q' *:68 111 ._ Off \\\`\ • EXHIBIT "A" LEGAL DESCRIPTION OF MBEACH1 PROPERTY Lots 1, 2, 3, 4, 5 and 6, Block 39, COMMERCIAL SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 6, at Page 5, of the Public Records of Miami -Dade County, Florida, Together with: Lots 7 and 8, Block 39, PALM VIEW SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 6, at Page 29, of the Public Records of Miami -Dade County, Florida, Less and except: A portion of Lot 7, Block 39, PALM VIEW SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 6, at Page 29, of the Public Records of Miami -Dade County, Florida, being more particularly described as follows: Begin at the Northwest corner of said Lot 7; Thence South 00 °48'26" East along the West line of said Lot 7, a distance of 22.02 feet to a point on a tangent curve concave to the Northeast; Thence Southeasterly along the arc of said curve, having a radius of 8.00 feet, a central angle of 90 °02'39" and an arc distance of 12.57 feet; Thence North 89 °08'55" East along the South line of said Lot 7, a distance of 22.02 feet to a point on a tangent curve concave to the Northeast; Thence Northwesterly along the arc of said curve, having a radius of 30.00 feet, a central angle of 90 °02'39" and an arc distance of 47.15 feet to the Point of Beginning. Said land situate, lying and being in the City of Miami Beach, Miami -Dade County, Florida; containing 180 square feet, more or less. EXHIBIT "B" LEGAL DESCRIPTION OF PROJECT SITE [attached] \ COUSINS SURVEYORS & ASSOCIATES; INC. (PROJECT NUMBER : 5085704 ) 3921 SW 47TH AVENUE, SUITE 1011 CLIENT DAVIE, FLORIDA 33314 MBEACHI, LLLP ••►• PHONE (954) 680- 9885 (954) 680 -0213 LAND DESCRIPTION AND SKETCH LAND DESCRIPTION : A PORTION OF LINCOLN ROAD LYING BETWEEN ALTON ROAD AND LENOX AVENUE, AS SHOWN 014 "COMMERCIAL SUBDIVISION ", ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 6, AT PAGE 5 OF THE PUBLIC RECORDS OF MIAMI /DADE COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS; BEGIN AT THE WESTERN MOST SOUTHWEST CORNER OF LOT 1, BLOCK 39 OF SAID "COMMERCIAL SUBDIVISION"; • I THENCE SOUTHEASTERLY ALONG THE ARC OF A CURVE, CONCAVE TO THE NORTHEAST, HAVING A RADIUS OF 15.00 FEET; A CENTRAL ANGLE OF 90'02'39" AND AN ARC DISTANCE OF 23.57 FEET; I -- -° THENCE TANGENT TO THE LAST DESCRIBED CC RV "WORTH 89'08'55" EAST =. -- -- ,-- -- _---------- ......_ ALONG THE SOUTH LINE OF SAID BLOCK 39, A DISTANCE OF 290 FEET TO A POINT ON A TANGENT CURVE CONCAVE TO THE NORTHWEST; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, HAVING A RADIUS OF 15.00 FEET, A CENTRAL ANGLE OF 89'57'21" AND AN ARC DISTANCE OF 23.55 FEET; . THENCE SOUTH 00'48'26" EAST, A DISTANCE OF 130.00 FEET TO A POINT ON A TANGENT CURVE CONCAVE TO THE SOUTHWEST; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, HAVING A RADIUS OF 15.00 FEET; A CENTRAL ANGLE OF 90'02'39" AND AN ARC DISTANCE OF • 23.57 FEET; THENCE SOUTH 89'08'55' WEST ALONG -THE NORTH LINE OF BLOCK 46 OF SAID "COMMERCIAL SUBDIVISION ", A DISTANCE OF 290.00 FEET TO A POINT ON A TANGENT CURVE CONCAVE TO THE SOUTHEAST; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, HAVING A RADIUS OF 15.00 FEET, A CENTRAL ANGLE OF 89'57'21" AND AN ARC DISTANCE OF 23.55 FEET; f THENCE NORTH 00'48'26" WEST, A DISTANCE OF 130.00 FEET TO THE POINT OF BEGINNING. SAID "LAND SITUATE "LYING AND' BEING TN "THE "CITY " OF MIAMI BEACH; MIAMI /DADE COUNTY, FLORIDA; CONTAINING 32,193 SQUARE FEET, MORE OR LESS. REVISIONS • DATE FB /PG DWN CKD\ PROPERTY ADDRESS : A ) LAND DESCRIPTION & SKETCH 03/06/07 -- - -- AV REC LAND DESCRIPTION 1111 LINCOLN ROAD & SKETCH FOR LINCOLN ROAD ( SCALE: N/A , ) BETWEEN ALTON ROAD ` & LENOX AVE (SHEET 1 OF 3 ) . , COUSINS SURVEYORS & ASSOCIATES, INC. (PROJECT NUMBER : 5085 -04 ) 3921 SW 47TH AVENUE, SUITE 1011 CLIENT ' CERTIFICATE I F AUTHORIZATION : LB # 6448 MBEACH1, LLLP vii - PHONE (954) 680 -9885 FAX (954) 680 -0213 ' LAND DESCRIPTION AND SKETCH ( I ■ , A L T O N R O A D ".'l . pOB • `.,� WESTERN NOST SOUTHWEST CORNER LOT 1, BLOCK 30 - . NO0'48'26 "W 130.00' (P.11 8, PO. 5, N /O.C.R.) - . WEST LIRE - LOT 11 `'� W EST LINE - LOT 1 D \ aHA a�� N4 100.00' , m I++wtn Rs ° [f7 . VW0 m $N ° P "•" Ng w e • - _ _FAST T WE LIT 1_ — — co FJ,ST EE - LOT 2 WES LINE -LI NT 2 - I _ WEST UN -LOT 7 • m N EAS UNE ^ T 11 — Z E'tsi 11NE ^ . EOT 1 — WEST T UNE - LOT 10 WEST LINE - 3 — 0 a Z co 0 z. h co . o ° n co ° g o. ° Z N u m — EAITUHL-- toito _ tD - W U ORRE - m7 WEST UNE - LOT B i 144 pt in O p . 6. 8 - i � n O � . O m .s I 0 m K~ . y A _ _ _ — — -- E/ST U _1AT0 EA ST NE �- LO7 4. I ' WEST UNE - LOT 0 5 Is m r S ... __..._.._ _: _._. ._.._ .. ... .... .. ._... ..._........_. :_..._... _ . t m ._. ._._.. .. ... _....._ ............_ . ........ .... ... .. ....... ......_..._._. ._.. ..._. __ IWO �'._.._......_. _...... _ __. _.. ...._...._.. ._.. ._..._. ..._.. .._.. EAT LIN 7.-Lt-Tr ' . EIST UNE - LOT 5_ _ ••_ _ -'- yfC3f =COT 6 ^ WE S ST LINE E 7 f 1 5, D 1 ^ DO 100.00 a � 1 R LR tl1 A i LEGEND: (/, N G f.N p '� _ VWp. � pt0 CKD CHECKED BY ` DWN DRAWN BY / ° EAST UNE - LOT s FB /PG FIELD BOOK AND PAGE EAST UNE - WT 7 I PDB POINT OF BEGINNING S00'48'26 "E 130.00' POC POINT OF COMMENCEMENT. P.B. PLAT BOOK M /O.C.R. MIAMI /DADE COUNTY RECORDS A AR1D5STAN� L E N O X' A V E N U E A CENTRAL ANGLE . REVISIONS DATE ' FB /PG DWN CKD‘ LAND DESCRIPTION PROPERTY ADDRESS : LAND DESCRIPTION & SKETCH 03/06/07 -- - -- AV REC 1 V W UNCOLN ROAD ) & SKETCH FOR LINCOLN ROAD ( SCALE: 1 "= 40' ) BETWEEN ALTON ROAD & LENOX AVE SHEET 2 OF 3 ) - ` COUSINS SURVEYORS & ASSOCIATES, INC" (PROJECT NUMBER : 5085 -04 ) 3921 SW 47TH AVENUE, SUITE 1011 CLIENT �/1` DAVIE, FLORIDA 33314 MBEACHI, LLLP. ,'\V CERTIFICATE• OF AUTHORIZATION : L9 # 6448 PHONE (954) 680 -9885 FAX (954) 680 -0213 LAND DESCRIPTION AND SKETCH • • t , NO7E5: 1, NOT VAUD WITHOUT THE SIGNATURE AND THE ORIGINAL RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND MAPPER. 2. LANDS SHOWN HEREON WERE NOT ABSTRACTED FOR RIGHTS -OF -WAY, EASEMENTS, OWNERSHIP, OR OTHER INSTRUMENTS OF RECORD. 3. DATA SHOWN HEREON DOES NOT CONSTITUTE A FIELD SURVEY AS SUCH. 4, THE LAND DESCRIPTION SHOWN HEREON WAS PREPARED BY THE SURVEYOR. 5. BEARINGS SHOWN HEREON ARE ASSUMED. THE SOUTH UNE OF LOT 20, BLOCK 39 "COMMERCIAL SUBDIVISION, FIRST ADDITION ", P.B. 6, PC. 30, M /D.C.R. SAID LINE BEARS 589'08'55 "W. I HEREBY CERTIFY THAT THE ATTACHED "LAND DESCRIPTION AND SKETCH" 15 TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF AS PREPARED UNDER MY DIRECTION IN MARCH, 2007. I FURTHER CERTIFY THAT THIS "LAND DESCRIPTION AND SKETCH" MEETS THE MINIMUM TECHNICAL STANDARDS FOR SURVEYING IN THE STATE OF FLORIDA ACCORDING TO CHAPTER 61017 OF THE FLORIDA ADMINISTRATIVE CODE. PURSUANT TO SECTION 472.027, FLORIDA STATUTES. SUBJECT TO THE QUALIFICATIONS NOTED HEREON. I , FOR THE FIRM, BY: RICHARD E. COUSINS PROFESSIONAL SURVEYOR AND MAPPER I ` FLORIDA REGISTRATION NO. 4188 REVISIONS DATE FB /PG DWN CKDN PROPERTY ADDRESS : LAND DESCRIPTION & SKETCH 03/D6/07 AV REC LAND DESCRIPTION C 1111 LINCOLN ROAD & SKETCH FOR LINCOLN ROAD r (SCALE: N/A ) BETWEEN ALTON ROAD ` & LENOX AVE ( SHEET 3 OF 3 ) EXHIBIT "C" SURVEY OF CRANE PAD 4 t i - COUSINS SURVEYORS & ASSOCIATES, INC. PROJECT NUMBER 5085 -04 3921 SW 47TH AVENUE, SUITE 1011 AN& DAVIE, FLORIDA 33314 CLIENT : 744411® CERTIFICATE OF AUTHORIZATION : L8 # 6448 G.T. McDONALD ENTREPRISES, INC. PHONE (954) 680-9885 FAX (954) 680 -0213 Ark � 0 -90 °02'39" "COMMERCIAL SUBDIVISION" r� r A= 23.57 (P.B. 6, PG. 5, M /D. C.R.) S89 °08'55 "W 290.00' NORTH 'RIGHT-OF 'LINE W . z :� LINCOLN ROAD L.,_ 0 F__. z u. cc a W o 0 67.6' � Q , � 419� I 420 / 421 / 1 � PROPOSED. PILE / Z 0 \ `�____ LOCATION / O Z 1 \ 426 \ o f , (TYPICAL) j 22 o CRANE PILE., Q z CAP N i--- 1 / / ELEVATION TOP OF ':\ Lu W PILE CAP =3.25' 1 ' ' 425 424 423 1 1 0 0 0 c L -_J _N 03 : o 0 z LEGEND: I R RADIUS. A CENTRAL ANGLE A ARC DISTANCE ■ 425 PILE NUMBERS ■ • °PROPERTY . ADDRESS : REVISIONS DATE FB /PG DWN CKD' ■ PROPOSED CRANE PILE CAP LOCATION 09/02/09 AV REC PROPOSED l 1111 LINCOLN ROAD - -- ! - - - ='— — CRANE PILE CAP ( SCALE: 1 5' — - — - LOCATION r / SHEET 1 OF 1 \ I I ■