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Easement Agreement with Beach Plaza South Condominium Association, Inc.01 7 -029r -ivy This Instrument Prepared by and return to: Raul J. Aguila, City Attorney City of Miami Beach, Florida 1700 Convention Center Drive Miami Beach, Florida 33139 SPACE ABOVE THIS LINE FOR PROCESSING DATA SPACE ABOVE THIS LINE FOR PROCESSING DATA Easement Agreement This Easement Agreement ("Agreement") is made this 6th day of November , 2017, by and between BEACH PLAZA SOUTH CONDOMINIUM ASSOCIATION, INC. a Florida not for profit corporation, whose address is 2939 Indian Creek Drive #201, Miami Beach, Florida 33140 ("Grantor") and City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, whose address is 1700 Convention Center Drive, Miami Beach, Florida 33139 ("Grantee") (Grantor or the Grantee or may be referred to herein individually as a "party" or collectively as "parties"); WHEREAS, pursuant to Florida Statutes Section 718.111(10), Grantor has authority to enter into this Agreement and to grant a perpetual, non-exclusive easement appurtenant to the real property located in Miami -Dade County, legally described in Exhibit "A" attached hereto (the "Property"): WHEREAS, the Property abuts Indian Creek (the "Waterbody") and includes the area containing a seawall that is adjacent to the Waterbody (the "Seawall Area"); WHEREAS, Grantee is replacing seawalls and elevating roadways along the Waterbody to benefit Grantor and other property owners abutting Indian Creek whose land is subject to inundation during certain tidal events; and WHEREAS, Grantee needs access to and use of the Property in connection with the development of Public Related Uses (As defined in Section 3), which, at minimum, will include the construction of a new seawall ("New Seawall"), as may be upgraded from time to time by Grantee for the protection of the health, safety or welfare of the general public, and the development of a greenway and/or other type of walkway for public access and use; and WHEREAS, Grantor has agreed to grant a perpetual, non-exclusive access and use easement to Grantee in, on, over, through and across the Property, including riparian rights and public access; and WHEREAS, Grantor requests that Grantee, and Grantee hereby agrees to, demolish the existing seawall and construct, install and maintain a New Seawall; and 1 WHEREAS, the City Manager as referenced in this Agreement shall mean the chief executive officer of the City or such person (the City Manager's designee) as may from time to time be authorized in writing by such administrative official to act for him/her with respect to any or all matters pertaining to the administration of this Agreement on behalf of the City, except where such authority has been expressly delegated herein to the City Commission. NOW, THEREFORE, for and in consideration of the mutual covenants, benefits and agreements of the parties and the sum of Ten and No/100 Dollars ($10.00) and other .good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. The above recitals are true and correct and are incorporated herein as part of this Agreement. 2. Grant of Easement, a. Grantor hereby grants, bargains, sells and conveys to Grantee, its successors and assigns, for use by Grantee, its employees, agents and contractors, and representatives and licensees, a perpetual, non-exclusive access and use easement in, on, over, through and across the Property, legally described in Exhibit "A", in connection with the construction, installation, operation, repair, replacement, upgrade and maintenance of City improvements (as defined in Section 4) and the operation of Public Related Uses (As defined in Section 3), subject to the terms and conditions set forth herein. The easement rights include non-exclusive riparian rights, as may be required under applicable Laws and any governmental authority (including the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida) having jurisdiction over the Property or the sovereign lands located adjacent thereto, to construct, install, repair, replace, upgrade or maintain the New Seawall or any future seawall developments. Additionally, the easement rights shall permit Grantee, its employees, agents and contractors and representatives and licensees to survey, mobilize, excavate, demolish, construct, inspect, store materials and equipment, install utilities, and take all other actions on the Property necessary to develop any City Improvements or operate any Public Related Uses. b. Public Access Easement. Grantor hereby grants, bargains, sells and conveys to Grantee, its successors and assigns, for use by members of the general public, a perpetual, non-exclusive access and use easement in, on, over, through and across the Property, in connection with the general public's use of any City Improvement or Public Related Uses developed on the Property. 3. Public Related Uses. As referred to herein, Public Related Uses shall include, without limitation, a seawall/retaining wall, flood mitigation elements, a greenway, public transportation stops, kiosks, bicycle paths, walkways and decks (excluding docks), parks, playgrounds, lighting or any other use which Grantee, in its reasonable discretion, deems necessary for the protection of the health, safety or welfare of the general public. 2 4. City Improvements. Grantee will have the right to construct, install, operate, repair, replace, upgrade and maintain, at its sole cost and expense, improvements in connection with any Public Related Uses (the "City Improvements"). 5. Grantee Obligations. Grantee will cause plans and specifications to be prepared for any construction work related to the installation of any City Improvements (collectively the "Work") and obtain any and all governmental permits and approvals required in connection with the Work (the "Permits"). Grantor will approve said plans and specifications (the "Approved Plans"). Grantor shall not withhold, condition or delay the approval of the plans and specifications relating to the Work. Upon completion of the Work, Grantee will accept ownership of any City Improvement, and will assume the sole responsibility to maintain any City Improvement in a good and safe condition and to repair and/or replace same as necessary from time to time, all in accordance with the Permits and any and all federal, state and local laws, rules, ordinances, and regulations (collectively, the "Laws") applicable thereto. Notwithstanding the foregoing, should Grantor develop a dock or any other marine related use or improvement contiguous to the Seawall Area, Grantor will be deemed to have accepted ownership of the New Seawall and will thereafter assume the sole responsibility to maintain the New Seawall in a good and safe condition and to repair and/or replace same as necessary from time to time, all in accordance with the Permits and any and all Laws applicable thereto. 6. Grantee's responsibility with respect to the installation of any approved City Improvements shall include the construction and installation of such City Improvements in accordance with the Approved Plans and Permits and, upon completion of the City Improvements, the repair, replacement and maintenance of the constructed City Improvements; it being understood and agreed that (i) Grantee makes no warranty regarding the City Improvements, and (ii) Grantor disclaims any and all implied warranties of merchantability and fitness, fitness for a particular purpose, intended use, workmanship or construction respecting the City Improvements imposed by statute, case law or otherwise. 7. Grantor Obligations. At all times prior to completion of the Work, Grantor will cooperate and provide support to Grantee in connection with the Work, including, without limitation, by executing, or causing to be executed, within thirty (30) days of a request from Grantee, any application or other documentation (in recordable form if necessary) necessary to connection therewith. However, in so doing, the Grantee shall not be obligated to undertake any action that will cause it to incur an expense in the undertaking thereof, it being the intent of the Grantor and Grantee that Grantee shall be responsible for any and all costs associated with the Work. In furtherance thereof, Grantor hereby grants the Grantee a power of attorney to execute and submit all such applications and documentation required by any governmental authority (including the Board of Trustees of the Internal Improvement Fund of the State of Florida) having jurisdiction over the Property or the sovereign lands, which may be necessary to obtain the Permits and perform the Work in accordance with the Approved Plans. 8. Access. Grantor shall not withhold or obstruct Grantee's access to any City Improvements or Public Related Uses through the installation of a fence or other similar means. Grantee shall not withhold or obstruct Grantor's access to the Property through the installation of a fence or any other similar means, except as may be necessary in connection with any repairs to or installation of City Improvements, such as the 3 installation of a new seawall/retaining wall, or as may be necessary for the health, safety, or welfare of the general public. 9. Amendment. This Agreement may only be modified, amended, terminated or released, by a recordable instrument executed by both parties hereto or their successors or assigns, and approved by the City Commission. 10. inspection. It is understood and agreed that any City official has the right to enter and investigate the Property, to verify compliance with the conditions of this Agreement or any applicable Laws. 11. Indemnification. Grantor, and its successors and assigns, agrees to save, defend, indemnify and hold harmless Grantee, its employees, agents and contractors (collectively, "Grantee Indemnified Parties"), from and against any and all loss, liability, damages, claims, costs, attorneys' fees and expenses (collectively, "Losses"), arising out of or relating to Grantor's negligence or willful misconduct. In consideration for this Agreement, Grantee, its successors and assigns, to the extent allowable, and subject to the limitation on its liability, as set forth in Section 768.28, Florida Statutes, as may be amended from time to time, expressly agrees to save, defend, indemnify and hold harmless Grantor, its employees, agents and contractors (collectively, "Grantor Indemnified Parties"), from and against any and all loss, liability, damages, claims, costs, attorneys' fees and expenses (collectively "Losses"), arising out of or relating to the Grantee's negligence or willful misconduct. Additionally, nothing contained in this Agreement shall be deemed a waiver of sovereign immunity by the Grantee. 12. Notices. Any notices required or permitted to be given under this Agreement 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 Grantor at: With a copy to: If to the Grantee at: With a copy to: Beach Plaza South Condominium Association, Inc. 2939 Indian Creek, Unit 201 Miami Beach, Florida 33140 City of Miami Beach, City Hall 1700 Convention Center Drive Miami Beach, Florida 33139 Attention: City Manager City of Miami Beach, City Hall 1700 Convention Center Drive Miami Beach, Florida 33139 Attention: City Attorney 4 Notices personally delivered or sent by overnight courier, or mailed in accordance with the foregoing shall be deemed given upon receipt. The terms of this Section shall survive the termination of this Agreement. 13. Remedies. The terms of this Agreement may be enforced by injunctive relief and any other available remedies. In any action at law or in equity between the parties occasioned by a default hereunder, the Prevailing 'Party shall be entitled to collect its reasonable attorneys' fees actually incurred in the action from the non -prevailing party at trial and all appellate levels. As used herein, the term "Prevailing Party" shall mean the party who receives substantially the relief sought. 14. Governing Law, This Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida. The exclusive venue for any litigation arising out of this Agreement shall be Miami Dade County, Florida. BY ENTERING INTO THIS AGREEMENT, GRANTOR AND GRANTEE EXPRESSLY WAIVE ANY RIGHTS EITHER PARTY MAY HAVE TO A TRIAL BY JURY OF ANY CIVIL LITIGATION RELATED TO, OR ARISING OUT OF, THIS AGREEMENT. 15. Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and arrangements, both oral and written relating to the subject matter hereof. 16. Grantor Representations. Grantor covenants, warrants and represents (i) that Grantor has the authority to grant the perpetual easement granted herein, and (ii) there are no lienholders on the Property. 17. Easements and Covenants Run with the Land. Each and all of the easements, covenants, obligations and rights granted or created under the terms of this Agreement are appurtenant to the Property. The provisions of this Agreement shall constitute covenants running with the land, shall be binding upon the parties hereto, their successors and assigns, and shall inure to the benefit of the Grantee, its successors and/or assigns, having or hereinafter acquiring any right title or interest in the Property. 18. Miscellaneous. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original. The parties to this Agreement have participated in the negotiation of this Agreement and have been represented by legal counsel (or have been afforded the opportunity to do so and have declined). Accordingly, this Agreement shall not be construed more strictly against any one of the parties hereto The paragraph headings in this Agreement are for convenience only, shall in no way define or limit the scope or content of this Agreement, and shall not be considered in any construction or interpretation of this Agreement or any part hereof. With respect to words used in this Agreement, the singular shall include the plural, the plural the singular and use of any gender in this Agreement shall include all genders. Enforcement of the terms and provisions of this Agreement shall be at the reasonable discretion of the aggrieved party, and no waiver of any of the provisions of this Agreement shall be effective unless it is in writing, signed by the party against whom it is asserted and any such waiver shall only be applicable to the specific instance in which it relates and shall not be deemed to be a 5 continuing or future waiver. The Grantor agrees to execute such further documents as may be reasonably requested by Grantee to carry out the intent and purpose of this Agreement. The invalidation of any one of these covenants or provisions of this Agreement by judgment or court order shall in no way affect any other provisions hereof, which shall remain in full force and effect to the maximum extent possible, consistent with such invalidation. [Signature Pages Follow] 6 Signed, witnessed, executed and acknowledged this day of Vie:, 1,eAr , 2017. Signed, sealed and delivered in the presence of: Wites Print Name: De,-) eaTe-r Print Name: STATE OF FLORIDA ss: COUNTY OF MIAMI-DADE BEACH PLAZA SOUTH CONDOMINIUM ASSOCIATION, INC. a Florida not for profit corporation Title: The foregoing instrument was acknowledged before me. ,;' this %a day of f , 2017 by A*ibo v/CTti-'/ii as /-'2264..5/7-?9197- , on behalf of Beach Plaza South Condominium Association, Inc. who is personally known to me or who has produced 05 " A 7& " as identification. My Commission Expires: Leida G. Toro Commission GG102116 Expires: May 8, 2021 -0,1110\ Bonded thru Aaron Notary 7 Nofry Public, State of Florida Signed, witnessed, executed and acknowledged this 6th day of November , 2017. Signed, sealed and delivered in the presence of: Witness: STATE OF FLORIDA ss: COUNTY OF MIAMI-DADE ) City of Miami Beach, a Florida i, nicipal corp tion Rafael Granado, Clerk The foregoing instrument was acknowledged before me this 6th day of November , 2017 by Jimmy L. Morales and Rafael E. Granado, as City Managerpnd City Clerk, respectively, of the City of Miami Beach, a Florida municipal corporation,✓who are personally known to me or who have produced aj identification. My Commission Expires: Ndfary Public, State of Florida 8 LINA CARDILLO MY COMMISSION # FF 155322 a = EXPIRES: August 27, 2018 Bonded Thru Notary Public Underv'ritors APPROVED AS TO FORM & LANGUAGE & FOR EXEC TION (7(7lY' Ili V City Attorney Date EXHIBIT "A" The strip of land lying between the East shoreline of Indian Creek Drive and South of the North line of Lot 12, in Block 12 of MIAMI BEACH IMPROVEMENT COMPANY'S OCEANFRONT PROPERTY, according to the Amended Plat thereof, as recorded in Plat Book 5, at Pages 7 and 8 of the Public Records of MIAMI-DADE County, Florida, extended to Indian Creek and North of the South line of Lot 13 in said Block 12, extended to Indian Creek. A portion of Folio No.: 02-3226-019-0001 9 F:\DOCS\247\174\28\Easement.Beach Plaza South Condominium-10-11-2017.doc Settlement Statement Grantee: City of Miami Beach, a Florida -municipal corporation 1700 Convention Center Drive, 4th Floor, Miami Beach, Florida 33139 Grantor: Beach Plaza South _Condominium Association, Inc., a Florida not for profit corporation 2939 Indian Creek Dive #201, Miami Beach, FL 33140 Property Location: 2939 Indian Creek Drive, Miami Beach, Florida 33140 (See Exhibit A attached) Date: , 2017 Settlement Agent: Suzanne A. Dockerty, P.A. 110 Merrick Way, Suite 3B, Coral Gables, Florida 33134 Consideration Amount $10.00 Grantee Settlement Fees: Title Search Reports and Updates: (POC $250) $ 0 Title Insurance Premium ($163,000): $890.00 Settlement Fee: (POC $500) $500.00 Clerk of Court Recording Fee: Easement Agreement: Documentary Stamp Tax: Certified Copies: Wire Transfer Fee/FedEx: Total Grantee Settlement Fees: $ 78.00 $ 1.05 $ 25.00 $ 100.00 $ 1,594.05 I have carefully reviewed the Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made on account of this transaction. 'Grantee: 'City of Mia ^ i Beach, a orida municipal corporation By: Print Nam Approved as to for n and Language for Exec io "PA -44214/ City Att`rn •y y 7 V By: Exhibit "A" Legal Description The strip of land lying between the East shoreline of Indian Creek .Drive and South of the North line of Lot 12, in Block 12 of MIAMI BEACH IMPROVEMENT COMPANY'S OCEANFRONT PROPERTY, according to the Amended Plat thereof, as recorded in Plat Book 5, at Pages 7 and 8 of the Public Records of MIAMI-DADE County, Florida, extended to Indian Creek and North of the South line of Lot 13 in said Block 12, extended to Indian Creek. A portion of Folio No,: 02-3226-019-0001 Closing Affidavit (Grantor) Before me, the undersigned authority, personally appeared the undersigned ("Affiant"), who being by me first duly sworn, on oath, depose(s) and say(s) that: 1. Beach Plaza South Condominium Association, -Inc., a Florida not for profit corporation ("Grantor"), is the owner of and is granting an easement for the following described property to City of Miami Beach, a Florida municipal corporation ("Grantee"), to wit: The strip of land lying between the East shoreline of Indian Creek -Drive and South of the North line of Lot 12, in Block 12 of MIAMI BEACH IMPROVEMENT COMPANY'S OCEANFRONT PROPERTY, according to the Amended Plat thereof, as recorded in Plat Book 5, at Pages 7 and 8 of the Public Records of MIAMI-DADE County, Florida, extended to Indian Creek and North of the South line of Lot 13 in said Block 12, extended to Indian Creek. To the best of affiant's knowledge, the above described property is free and clear of all liens, taxes, encumbrances and claims of every kind, nature and description of record whatsoever, except for mortgage or mortgages, if any, described in the Deed and except for real estate and personal property taxes for the year 2017, which are not yet due and payable. 3. There have been no improvements, alterations, or repairs since acquisition by the Grantor to the above described property for which the costs thereof remain unpaid, that there are no claims for labor or material furnished for repairing or improving the same, which remain unpaid since the acquisition by Grantor, and that there are no mechanic's, materialmen's, or laborer's liens since acquisition by Grantor against the above described property. 4. There have been no documents recorded in the Public Records of Miami -Dade County, Florida subsequent to October 2, 2017, which affect title to the Property and Grantor has not entered into any contracts for the sale, disposition or leasing of the Property since said date except as may have been disclosed to SUZANNE A. DOCKERTY, P.A. in writing, and Grantor has no knowledge of any matter affecting title to the Property. 5. The Grantor knows of no violations of Municipal or County Ordinances pertaining to the above described property. No judgment or decree has been entered in any court in this State or the United States against said Grantor which remains unsatisfied. There are no persons other than Grantor in possession of the above described property. 6. To the best of affiant's knowledge, there are no matters pending against the Grantor that could -give rise to a lien that would attach to the property between the effective date of commitment and the recording of the interest to be insured. Grantor has not and will not execute any instruments that would adversely affect the interest to be insured. 7. Grantor's title to, and possession and enjoyment of, the property have been open, notorious, peaceable and undisturbed, and have never been disputed nor questioned. 8. To the best of affiant's knowledge, there are no disputes concerning the boundary lines of the property. 9. There are no actions or proceedings now pending in any State or Federal Court to which the Grantor is a party, including but not limited to, proceedings in bankruptcy, receivership or insolvency, nor are there any judgments, bankruptcies, liens or executions of any nature which constitute or could constitute a charge or lien upon said property. 10. To the best of affiant's knowledge, there are -no unrecorded easements, claims of easement or rights-of-way affecting all or any portion of the property. 1 1. a. The Property does not constitute all or substantially all of the assets of the Grantor. b. Grantor is duly organized, validly existing, and in good standing under the laws of the State of -Florida. c, The granting of the easement of the Property to the -City does not violate any of the terms of the Grantor's articles of incorporation or bylaws. File Humber: 247174-2R DoubleTimev 12. This affidavit is given for the purpose of clearing any possible question or objection to the title to the above referenced property and, for the purpose of inducing SUZANNE A. DOCKERTY, P.A. and Old Republic National Title Insurance Company to issue title insurance on the subject property, with the knowledge that said title companies are relying upon the statements set forth herein. "Aft -mitt", "Grantor" and "Grantee" include singular or plural as context so requires or admits. Grantor further states that he/she is familiar with the nature of an oath and with the penalties as provided by the laws of the United States and the State of Florida for falsely swearing to statements made in an instrument of this nature. Grantor further certifies that he/she has read, or heard read, the full facts of this Affidavit and understands its context. Under penalties of perjury, I declare that 1 have read the foregoing Affidavit and that the facts stated in it are true. Beach Plaza South Condominium Assoei trop •ine�, a Florida not for proficoomoratio B Print Name: ` ' d. Title: t State of Florida County oF,.The foregoing instrument was sworn to and subscribed before me this 7 day of_ C7Zez 2017 by 4/01/70/4 _}/(C7 /f1 (print name), as _ 5'i� � (title) of Beach Piaza South Condominium Association, Inc., on behalf of the corporation. who [s is personally known to me or [ ] has produced a driver's license as identification. [Notary Seal] Notatiy-Public A.0.04,, Leiria G. Toro Printed Name: �a. = Commission # GG1021.16 ?II Expires: May 8, 2021 ' Bonded thru Aaron Notary »htttt Closing Affidavit (Seller) - Page 2 File Number:. 247.174-28 z ?,.D ?._ My Commission Expires: DoubleTimes CORPORATE RESOLUTION OF BEACH PLAZA SOUTH CONDOMINIUM ASSOCIATION, INC., A FLORIDA NOT FOR PROFIT CORPORATION The undersigned certifies that at a meeting of all of the directors of Beach Plaza South Condominium Association, Inc., a Florida not for profit corporation held on v` 7 , 2017, the following resolution was duly adopted and voted, and it is in full force and effect and has not been rescinded or countermanded as of the date hereof: RESOLVED, that Amanda Victoria, as President of Beach Plaza South Condominium Association, Inc., a Florida not for profit corporations hereby authorized and directed to execute and deliver any and all such instruments, and such other documents and take such other action on behalf of Beach Plaza South Condominium Association, Inc. as may be necessary or appropriate to grant that certain -Easement Agreement attached hereto and made a part hereof, and to otherwise carry out the transaction contemplated by or to be taken by Beach Plaza South Condominium Association, Inc. All documents shall be in such form as is deemed in the best interest of Beach Plaza South Condominium Association, Inc. in the opinion of Amanda Victoria, whose determination thereof shall be conclusive and final. RESOLVED, that (i) The Property does not constitute all or substantially all of the assets of the Association; (ii) Association is duly organized, validly existing, and in good standing under the laws of the State of Florida; (iii) The granting of the easement of the Property to the City does not violate any of the terms of the Association's articles of incorporation or bylaws. FURTHER RESOLVED, that the Conveyance described herein does not constitute all or substantially all of the assets of Beach Plaza South Condominium Association, Inc. CERTIFIED TO this day of a ,-a--z, kve v- 2017. Witness Nam 0(0 Cre-L-: 0419— Beach Plaza South Condominium Association, Inc., a F s 'da not for profit corp Print Name: / ' 77 C1 : ! -� Witness Name: o � � r �`.-€Title: Old Republic National Tf> a Insurance Company COMMITMENT Schedule A Effective Date: Agent's File Reference: Premium October 2, 2017 @ 11:00 PM 247174-28 $ TBD 1. Policy or Policies to be issued: Proposed Amount of Insurance: OWNER'S: ALTA Owner's Policy (6+17106). (With Florida Modifications) $163,000.00 Proposed Insured: City of Miami Beach, a Florida municipal corporation MORTGAGEE: ALTA Loan Policy (6/17/06). (With Florida Modifications) $ Proposed Insured: 2. The estate or interest in the land described or referred to in this Commitment is Easement. 3, Title to the FEE SIMPLE estate or interest in the land is at the Effective Date vested in: Beach Plaza South Condominium Association, Inc,, a Florida not for profit corporation 4. The land referred to in this Commitment is described as follows: The strip of land lying between the East shoreline of Indian Creek Drive and South of the North line of Lot 12, in Block 12 of MIAMI BEACH IMPROVEMENT COMPANY'S OCEANFRONT PROPERTY, according to the Amended Plat thereof, as recorded in Plat Book 5, at Pages 7 and 8 of the Public Records of MIAMI-DADE County, Florida, extended to Indian Creek and North of the South line of Lot 13 in said Block 12, extended to Indian Creek.. OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 400 Second Avenue South, Minneapolis, Minnesota M401, (612) 371-1111 Issuing Agent: SUZANNE A. DOCKERTY, P.A. 110 Merrick Way Suite 3-B Coral Gables, FL 33134 Form CF6 SCH,-A (rev, 1 11,))(Witir Ploilda Modifications) Agent No.: 22264 Agent's Signature Page 1 of 3 DoubleTimee 7.O.6 Old Republic National Title Insurance Company -COMMITMENT Schedule B -I Agent's =File Reference: 247174-28 I. The following are the requirements to be complied with: 1. Payment of the full consideration to, or for the account of, the grantors or mortgagors. 2. Instruments creating the estate or interest to be insured which must be executed, delivered and -filed for record: A. :Easement Agreement from Beach Plaza South Condominium Association, Inc., a Florida not for profit corporation, to the proposed insured purchaser(s), B. Approval of the percentage of the Condominium Unit owners required to authorize the Board of Directors of Beach Plaza South Condominium Association, Inc., a Florida not for profit corporation, for the sale of the subject property to the proposed insured purchaser(s). 3. A search commencing with the effective date of this commitment must be performed at or shortly prior to the closing of this transaction. If this search reveals a title defect or other objectionable matters, an endorsement will be issued requiring that this defect or objection be cleared on or before closing. 4. Affidavit to be executed by Beach Plaza South Condominium Association, Inc., a Florida not for profit corporation stating: 1) There are no matters pending against the affiant that could give rise to a lien that would attach to the property between October 2, 2017 and the recording of the interest to be insured. 2) That the affiant(s) have not and will not execute any instruments that would adversely affect the interest to be insured. 5. Affidavit from the owner of the subject property, or some other person having actual knowledge, establishing that no person other than the owner is in possession. 6. Affidavit from a reliable person must be furnished establishing that more than 90 days has elapsed since the completion of all improvements for which payment has not been made in full. 7. Satisfactory evidence must be furnished establishing that Beach Plaza South Condominium Association, Inc., a Florida not for profit corporation, is duly organized, validly existing, and in good standing under the laws of Florida (at date of acquisition of the interest or lien on the insured property and at the present time, or at date of purchase and at date of sale). 8. Verified copy of bylaws must be checked for any provisions as to the powers of the directors and officers and any procedure relating to the transaction to be insured. 9. Record resolution from the governing board consistent with the bylaws authorizing the transaction and specifying the officers who are to execute the instrument to be insured to be attached to the instrument to be insured. 10. Compliance with Sec. 617.1201 or 617.1202, F.S., from membership if the subject property constitutes all or substantially all of the assets of the corporate ,grantor. 11. NOTE: Agent must comply with Rule 690-186.003(1)(a)2 F.A.C.°which prohibits issuance of an Owner title policy with coverage amount more than or less than the "full insurable value" of the property. Page 2 of Form Clad SCH.•B•I (rev. 121W)}(lith Florida Modifications) DoubtcTime® 7.0.6 Old Republic Na>Lirtnal Titielnsurance Citiaaapa ny ,COMMITMENT Schedule B -II Agent's File Reference: 247174-28 :II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the Public Records or attaching subsequent to the Effective Date hereof but .prior -to the date the Proposed Insured acquires for value of record the estate or interest or Mortgage thereon covered by this Commitment. 2. a. General or special taxes and assessments required to be paid in the year 2017 and subsequent years. b. Rights or claims of parties in possession not recorded in the Public Records. c. Any encroachment, encumbrance, violation, variation, or adverse circumstance that would be disclosed by an inspection or an accurate and complete land survey of the Land and inspection of the Land. d. Easements, or claims of easements, not recorded in the Public Records. e, Any lien, or right to a lien, for services, labor, or material furnished, imposed by maw and not recorded in the Public Records, 3. Any Owner's Policy issued pursuant hereto will contain under Schedule B the following exception: Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the Land insured hereunder, including subnrerged, filled and artificially exposed lands, and lands accreted to such lands. 4. All matters contained on the Plat of Amended Map of The Ocean Front Property of the Miami Beach Improvement Company, as recorded in Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. 5. Rights of the United States of America and/or the State of Florida to any portion of said land which has been created —by artificial means or has accreted to any such portion as so created. 6. Those portions of the property herein described being artificially filled in land in what was formerly navigable waters, are subject to the right of the United States Government arising by reason of the United States Government control over navigable waters in the interest of navigation and commerce. 7. The rights, if any, of the public to use as a public beach or recreation area any part of the land lying or formerly lying between the body of water abutting the subject property and the natural line of vegetation, bluff, extreme high-water line or other apparent boundary lines separating the publicly used area from the upland private area, as it may have existed prior to the construction, if any, of sea wall or bulkhead thereon. 8. This policy does not insure any portion of the insured parcel lying waterward of the mean -high water line of Indian Creek. 9. Riparian and littoral rights are not insured. Page 3 or3 Form CFb SCH 8-11 (rel.. 0)(With Florida Modifications) - Doublamet) 7.0.6