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Grant of Perpetual Easement (87th Terrace) o?oA/- 0? 8S�3q Prepared by and Return to: Jeffrey Be rcow, Esq. Bercow Radell & Fernandez, P.A. 200 S. Biscayne Blvd., Suite 850 Miami, FL 33131 GRANT OF PERPETUAL EASEMENT (87t' TERRACE) 01� ( THIS GRANT OF PERPETUAL EASEMENT (this "Easement") is made thisNay of Wtnt2w , AI , by 8701 COLLINS DEVELOPMENT, LLC, a Florida limited liability company (the "Owner") having its principal place of business at 2665 S. Bayshore Drive, Miami, Florida 33133 in favor of the CITY OF MIAMI BEACH, a Florida municipal corporation (the "City"), having its principal place of business at 1700 Convention Center Drive, Miami Beach, Florida 33139. WHEREAS, the Owner owns that certain property situated, lying and being in Miami- Dade County, Florida, located at 8701 Collins Avenue, Miami Beach, Florida, and as more particularly described in Exhibit "A" attached hereto (the "Property"); WHEREAS, the City and the Owner entered into that certain Development Agreement dated as of , 2014, recorded in Official Records Book , at Page of the Public Records of Miami-Dade County (the "Development Agreement"), which constitutes a development agreement pursuant to the Florida Local Government Development Act, Section 163.3220, et. seq., Florida Statutes (the "Act") and which contemplates the renovation and/or redevelopment of the Property (the "Project WHEREAS, pursuant to the Development Agreement, the Owner has agreed to grant to the City a ten (10) foot wide perpetual easement for the purpose of providing public pedestrian access through and over a portion of the former, recently vacated, road right-of-way for 87th Terrace lying East of the Eastern right-of-way line of Collins Avenue and which is more particularly described in Exhibit "B" attached hereto (the "Easement Parcel"); WHEREAS, granting the easement is a condition of the effectiveness of the vacation of the road right-of-way for 87th Terrace and the issuance of development permits and approvals in order to develop the Project; WHEREAS, pursuant to the Development Agreement, the Owner has agreed to construct certain improvements (the "87th Terrace Improvements") to be made to 87th Terrace Property (as defined in the Development Agreement) as depicted in the 87th Street and Terrace Plans (as defined in the Development Agreement) in and on the Easement Parcel in order to provide 285975/4rrAMPA enhanced and upgraded public access to the beach and the Atlantic Ocean and the Owner has agreed to construct the 87th Terrace Improvements. NOW THEREFORE, in consideration of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Owner by these presents hereby grants, and conveys to the City, its successors and assigns, a perpetual easement on, in, and over the Easement Parcel for the purpose of providing public pedestrian access through and over the Easement Parcel. The Owner and the City further agree to the following: 1. The Owner hereby grants to the City its employees, contractors, or representatives, the permanent right and license for purposes of ingress and egress to and from the Easement Parcel for the purposes of inspecting, maintaining, repairing, and replacing the public sidewalks and all related public pedestrian improvements to be constructed on the Easement Parcel. The Owner hereby also grants the City the right to use and occupy the subsurface of the Easement Parcel for any utility or drainage or other use or purpose, including, without limitation, the right to construct, install, maintain and operate therein electrical, telephone, telegraph, telecommunication, gas, gasoline, sewer, water, and drainage fixtures and the Owner grants to the City-the right to grant easements to third parties to do the same. The City and third parties to whom the City grants easements over the Easement Parcel shall bear the cost for repairing any damage that they cause to the Easement Parcel while acting in such party's official capacity and for the purposes stated in this paragraph or otherwise working at the direction of the City. 2. Following Owner's completion of the 87th Terrace Improvements, the Owner shall have the sole responsibility and shall bear the total cost for the repair and maintenance of same, except for any repairs and maintenance arising from the gross negligence of the City, its employees, contractors, representatives, any third parties to whore the City has granted easements over the Easement Parcel, or any successors, while acting in such party's official capacity or otherwise working at the direction of the City. 3. The Owner shall provide the same level of maintenance on the Easement Parcel and the improvements thereon as the City currently provides for its public sidewalks. The Owner shall include the Easement Parcel as part of any security plan for the Property. Such security program shall require, at minimum, a roving security guard or video monitoring of the Easement Parcel. As part of the security program, the Owner shall be responsible for enforcing the hours of access limitations; the Easement Parcel shall generally be open to the public and/or guests or invitees of the Owner from sunrise to sunset daily. 4. The Owner shall maintain insurance on the Easement Parcel at all times as is reasonably customary for such property, and in any event with the minimum amounts as follows: a. Commercial General Liability: $1,000,000 per occurrence; $2,000,000 in the 285975/4rrAMPA aggregate. b. Property: Full replacement value for any improvements within the Easement Area. Such insurance policies shall name the City as an additional insured and loss payee (with respect to property coverage) thereunder; shall be written by insurance companies licensed to do business in Florida and with general policyholder rating of no less than A- and a financial rating of at least VII; and shall contain a requirement that the insurer provide 30-days written notice to the City of any cancellation of coverage to the attention of Risk Manager, 1700 Convention Center Drive, Miami Beach, Florida 33139. The Owner shall provide the City with a certificate of insurance evidencing said coverages. 5. The Owner reserves unto itself, its successors and assigns, the perpetual right and privilege of: a. Right.of ingress and egress to and from the Easement Parcel for construction access to the Property, and Owner shall bear the cost for repairing any damage to the Easement Parcel, resulting from such construction; b. Unrestricted vehicular and pedestrian access to, over, across and in the Easement Parcel, provided that such use does not materially interfere with the continued use of the Easement Parcel as permitted herein by the City and the public; and c. Using and occupying, and granting to any parties providing utility service, telephone service and to other similar parties, the right to use and occupy the subsurface of the Easement Parcel for any utility or drainage or other use or purpose which does not materially interfere with the non-exclusive rights herein granted to the City, and its authorized invitees, agents, employees, guests lessees and licensees, including, without limitation, the right to construct, install, maintain and operate therein electrical, telephone, telegraph, telecommunication, gas, gasoline, sewer, water, and drainage fixtures. 6. The parties agree that in connection with each of their respective rights to install and maintain utilities in the subsurface of the Easement Parcel pursuant to this grant of easement, each party (i) shall notify the other of its intention to install, repair or otherwise maintain such utilities, (ii) shall cooperate fully with the other party and take such steps as may be necessary to insure that any such installation, maintenance or repair of said utilities will not interfere with the use or functioning of existing utilities, (iii) shall, to the extent feasible, integrate any proposed installation, maintenance or repair with any proposed work of a similar nature by the other party, and (iv) shall not unreasonably interfere with the use of the Easement Parcel by the other party as permitted under this grant of easement. 285975/4/TAMPA 7. City shall not construct or permit to be constructed any structure or obstruction on or over or interfering with the construction or any other aspect of the 87th Terrace Improvements located upon the Easement Parcel. 8. Owner covenants, warrants and represents that it is the fee simple owner of the Easement Parcel and has the right, title, and capacity to grant the perpetual easement granted herein. 9. This grant of perpetual easement shall inure to the benefit of and be binding upon the heirs, legal representatives, successors and assigns of the parties hereto, as applicable. 10. Any notices required or permitted to be given under this Easement shall be in writing and shall be deemed to have been given if delivered by hand, sent by recognized overnight courier (such as Federal Express) or mailed by certified or registered mail, return receipt requested, in a postage prepaid envelope, and addressed as follows: If to the City at: City of Miami Beach, City Hall 1700 Convention Center Drive Miami Beach, Florida 3313 Attn: City Manager, City Attorney With a copy to: Squire Patton Boggs (US) LLP 201 North Franklin Street, Suite 2100 Tampa, Florida 33602 Attn: Stacy Krumin. Esq. If to Owner at: 8701 Collins Development, LLC c/o Terra Group 2675 S. Bayshore Drive Miami, FL 33133 Attn: David Martin With a copy to: Jeffrey Bercow, Esq. Bercow Radell & Fernandez, P.A. 200 S. Biscayne Blvd. Suite 850 Miami, Florida 33131 Notices personally delivered or sent by overnight courier shall be deemed given on the date of delivery and notices mailed in accordance with the foregoing shall be deemed given three (3) days after deposit in the U.S. mails. The terms of this Section shall survive the termination of this Easement. 285975/4/TAMPA 11. Construction. a. This Easement shall be construed and governed in accordance with the laws of the State of Florida. All of the parties to this Agreement have participated fully in the negotiation and preparation hereof; and, accordingly, this Easement shall not be more strictly construed against any one of the parties hereto. b. In construing this Easement, the use of any gender shall include every other and all genders, and captions and section and paragraph headings shall be disregarded. c. All of the exhibits attached to this Easement are incorporated in, and made a part of, this Agreement 12. Severability. In the event any term or provision of this Easement be determined by appropriate judicial authority to be illegal or otherwise invalid, such provision shall be given its nearest legal meaning or construed as deleted As such authority determines, and the remainder of this Easement shall be construed to be in full force and effect. 13. Litigation. In the event of any litigation between the parties under this Easement for a breach hereof, the prevailing party shall be entitled to reasonable attorney's fees and court costs at all trial and appellate levels. The terms of this Section shall survive the termination of this Easement. 14. Time of Essence. Time shall be of the essence for each and every provision hereof. 15. Entire Agreement. This Easement, together with the documents referenced herein, constitute the entire agreement and understanding among the parties with respect to the subject matter hereof, and there are no other agreements, representations or warranties other than as set forth herein. This Easement may not be changed, altered or modified except by an instrument in writing signed by the party against whom enforcement of such change would be sought. 16. Force Maieure. Any prevention, delay or stoppage due to strikes, lockouts, labor disputes, acts of God, inability to obtain labor or materials or reasonable substitutes therefor, riot, civil commotion, fire or other casualty, and other causes beyond the reasonable control of the party obligated to perform, excluding the financial inability of such party to perform shall excuse the performance by such party for a period equal to any such period of prevention, delay or stoppage. [Signature pages to follow] 285975/4/TAMPA i IN WITNESS WHEREOF, the undersigned has caused this grant of perpetual easement to be executed by execution of this instrument as of this -,A 'day of A1JW01b1� 2014. Witnesses: THE OWNER 8701 COLLINS DEVELOPMENT, LLC a Florida limited bit' y c mpany Sign Name: ��/7 S' , g Print Name: �r �'� S By: Print me: i &"Aki Sign Name: Print Name: C �- STATE OF FLORIDA ) SS: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this �Lf day of Nell , 2014 by David Martin, as manager of 8701 COLLINS DEVELOPMENT, LLC a Florida limited liability company, on behalf of the company. He is personally known to me or has produced �6 ICl6 as identification. NOTARY PUBLIC Typed or Printed Name of Notary My Commission Expires: Serial No., if any: ••, DINORAH ALONSO Notary Public-State of Florida =•® :• My Comm.Expires Sep 18,2018 Commission#�FF 125324 R Thro*National Assn. 285975/4(TAMPA ACKNOWLEDGED AND ACCEPTED this day ofd °, 2014 by: Al Witnesses: CITY OF MIAMI BEACH A, a municipal corporati n F / Sign Nam By: Mayor Sign Name: Print Name. ATTEST: City Clerk STATE OF FLORIDA ) uJJ�la. °:' i 1. ~` SS: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this 25 day of NOU 2014 by Philip Levine, as mayor of the City of Miami Beach, Florida, a Florida municipal corporation, on behalf of the City. He is personally known to me or has produced as identification. ZD LAYDA HERNANDQ NO AR UBLIC i,y.T IV �/ MY COMMISSION#F-025,09 L cz,4 ct a e,,-n awo cL c z EXPIRES:JUN 09,2017 Bonded through 1st State lnsurance Typed or Printed Name of Notary My Commission Expires: Serial No., if any: APPROVED AS TO FORM & LANGUAGE �C FQR EXECUTION i City Attorney ; ��. Date 285975/4/TAM PA CONSENT AND SUBORDINATION The undersigned lien or, owner and holder of that certain [Mortgage] recorded in Official Records Book ' at Page , of the Public Records of Miami-Dade County, hereby consents to the grant of easement rights as provided herein and subordinates the lien and effect of its security interest to this Easement. Sign Name: By: Print Name: Name: Title: Sign Name: Print Name: STATE OF ) SS: COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 2014 by , as of , a on behalf of the He/she is personally known to me or has produced as identification. NOTARY PUBLIC Typed or Printed Name of Notary My Commission Expires: Serial No., if any: 285975/4/TAMPA