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Quit-Claim Deed with The Alden Hotel Condominium Owners Association, Inc.avrri-a 97Vf MIAMI BEACH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www,miamibeachfl.gov OFFICE OF THE CITY ATTORNEY Tel: 305 -673 -7000 Ext 6955 MEMORANDUM Date: February 12, 2018 To: Rafael Granado, City Clerk From: Gisela Nanson Torres, Senior Assistant City Attorney Ext. 6955/Fax: 305 -673- 7002/ giselatorres(a�miamibeachfl.gov Re: Indian Creek Project — Quit Claim Deed transaction 2925 Indian Creek Drive Resolution No. 2017 -29749 Attached please find the following documents in regards to the referenced transaction: 1) Copy of Quit Claim Deed (you should have original) 2) Copy of Partial Release of Collateral Assignment 3) Original Old Republic National Title Insurance Company Owner's Policy 4) Original Settlement Statement 5) Office of the Property Appraiser Summary Report Kindly advise if you do not need all these documents so we can make the adjustment moving forward. Thank you. GNT/ym Attachments This instn.unent prepared by, or under the supervision of (and after recording, return to): Raul Aguila City Attorney City of Miami Beach 1700 Convention Center Drive Miami Beach, Florida 33139 CFN: 20170086909 BOOK 30421 PAGE 3577 DATE:02/14/2017 12:27:19 PM HARVEY RUVIN, CLERK OF COURT, MIA-DADE CTY (Reserved for Clerk of Court) 91.1ff-CLAINI,DEED THIS QUIT-CLA1M DEED, made as of this 24 day of 19 M016( 2016 (the Effective Date), by The Alden Hotel Condominium Owners Association, Inc., a Florida Corporation whose address is 2925 Indian Creek Drive, Miami Beach, Florida, 33140, first party, in its legislative capacity, to the City of Miami Beach, .1700 Convention Center Drive, Miami Beach, Florida second party, in its proprietary capacity: (Wherever used heroin the terms first party and second pPety shall include singular and plural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, wherever the context so admits or requires). WITNESSETH, that the said first party, for and in consideration of the sum of TEN DOLLARS and other good and valuable consideration ($10.00) in hand paid by the said second party, the receipt whereof is hereby acknowledged, does hereby remise, release and quit-claim unto the said second party forever, all the right, title, interest, claim and demand which the said first party has in and to the following described property being situated in Miami-Dade County, Florida, and legally described as follows: That strip of land bounded on the Easterly sick by Indian Creek. Drive, on the Westerly side by Indian Creek, on the Northerly side by the Northerly line of Lot 14, Block 12, extended Westerly, and on the Southerly Side by the South line of lot 15, Block 12, Extended Westerly. See attached composite Exhibit "A" (the Property) (from Official Record Book 21621, Page 3755, 3827-3832) TO HAVE AND TO HOLD 'the same together with all the tenements, hereditaments and appurtenances thereunto belonging, 11 is the intent of first party, by this instrument, to convey to second party the Property described above, and in Exhibit "A" hereto, subject to and contingent upon the terms and conditions approving and granting first party's vacation of the Property to second party, as provided in City of Miami Beach Resolution No, 2016-29584. CFN: 20170086909 BOOK 30421 PAGE 3578 IN WITNESS WHEREOF, The said first party has signed and sealed these presents the day and year first above written. Signed, sealed and delivered in the presence of: STATE OF FLORIDA) COUNTY OF MIAMI-DADE) ominium Owners Assoc. Inc. CL Print N Title: The foregoing instnunent was acknowledged before Deceviee , 2016 by (-1 it%0 (:) Nt 0 eit personally known to me or who has produced not) take an oath. My Commission Expires: me this _!2 day of who is tification and did (did 2 RAFAEL P AQUINO .0 MY COMMISSION is FF941091 EXPIRES My 08.2020 4114,53 gam EXHIBIT "A" • CFR 20170086909 BOOK 30421 PAGE 3579 EXHIBIT "A' --TO DECLARATION OF CONDOMINIUM. THE ALDEN HOTEL, A CONDOMINIUM LEGAL DESCRIPTION Book21621/Page3827 Page 53 of 124 EXHIBIT "A" QUITCLAIM CFN: 20170088909 BOOK 30421 PAGE 3580 LEGAL buseRarnoN Lots 14 and 15; in Block 12; of OCEAN FRONT PROPERTY, OP THE MIAMI REACH IMPROVEMENT COMPANY'S 51.1,8DIVISION, according to the Plat thereof, at recorded in Plat Book 5. at Pages 7 and 8. of the Public Records- of Dade County, Florida. Also that wtp of land botifided nit the Easterly side by Indian Creek DriVe, on the Weston), side by hitilah Creek., on the Northerly side by the Northerly line or Lot 14, Block 12, extent:Ica Westerly, and an the Southerly side by the Sauthline of Lig 15, Block I2, extended Westerly. Book21621/Page3828 Page 54 of 124 EMMET "A" CFN: 20170086909 BOOK 30421 PAGE 3581 EXHIBIT DECLARATION' OF CONDOMINIUM THE A EN HOTEL, A CONDOMINIUM SURVEY-PLOT FUN-FLOOR PLANS B,00k21621/Page3829 Page 55 of 124 EXHIBIT "A" QUIT-CLAIM ItAl NW. to VOIXOTAL•44 142 Lama, 11C1404311t, ttldittOdt 414411414.11 Aft CA:4) Mt= MI: 20170086909 BOOK 30421 PAGE 3582 NiAla gitnitqatEr clItt LAND SURVEY011S ° . t SEE PACE 3 OF 3 FOR 'LECAI, DESCRIPTION alomulanommommlowOol, lorwar„,,, 2'40002,498 sti.oPlfig Property-Addreess 2925 /ND/AN CREEK DK, MIAMI MACH, FL 13140 For: KINNERET REALTY L.L.C„ A FLORIDA Date: 03/05/2002 LOCATION SKETCH 1r :Seale 1 ,01/e7 L v crec . Qv. . 44fl corona/la rm. • .acme f.Aetuvrr, un • Attimeei N'S 441.41144161•EC. AVH • ArtIALT. • lace conntn DM, • ILALOn41. at • IVAN 14414. LOA, SAVII aemewie C. • ad.CIAAVE11, dd. • CAHN USK CM. • COICAIITI Met 1111WLIde. OW • CONMITILICCKWALL pl. • POW reSTAffX Ott •C4170 BEA/4141 CL • CLLGA. 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LS ONDVEMVI SWAMP Hio Oto Pio vont Mr 84,11WIRed pcdrUesvantnil OMAN Man& BIANOMOS IST /CMM THIS ROMA IMMO OE 1440415140NAL Lite ILIVIWYCiialdoesonol nem ousep• monanoinver Cool KIAVJA111 inerAitairm tram' a ' P' Kuno. UM luvviriOnNta 171 trete Or ROCCA. OPAL COMM 00 MI opeoly.tu, UM IRO mance KAI, Of Olt ATITITioa ImE1 WALE D LBW rot--.--••••,,_ 'Situated in Zone; AB coraniunity/Panel/Buf ix; 120553.-0184-J Date of Firm: 07/17/1995 Base Flood Elevation: $FT Certified to KINNERET REALTY' ta.L.C., A FLORIDA LIMITED ATTOWEYS, TXTLE INSURANCE FUND, INC. LIABILITY COHPANY COHKEICIAL HANK oly pLosciDA,ITS SUCCESSORS AHD/OR ASSIGNS t • Book21621/Page3830 Page 56 of 124 EX o •' IT "A" QUIT -CLAIM CFN: 20170086909 BOOK 30421 PAGE 3583 id Y fiV 4, o 6 "' ot 'wag ° / 4i ,f4i7 f G ©r�� L va-a Scala V14 *AP fikke. w .64404 ',sa, x•15 2 afar "' rsryp 11";177 014 i • ♦rein N ikslre at Book21621 /Page3831 Page 57 of 124 C"Nr,44 .ul ✓m. <s:Irf`",t sy EXHIBIT "A" • QUIT-CLAIM son Kw" Nut No ia44 nerto41.114• Litman, mil wtm• 6004011b*44n• CFN: 20170086909 BOOK 30421 PAGE 3584 ova guturtjaro $rtr. LAND SURVEYORS gendar 4:f! g 400 040 j.„,„01° n Lot 14 and I$, in Block 12, of-OCEAN MONT PROPERTY, OF TIIE MIAMI t3EACII 114PROVEMENT COMPANY'S SUBDIVISION, according to Ihe Plat !hereof, as rccorded k Nal Bonk 5, al Pages 7 and g, of the Public Rconls of Dade County, Ploridn, Also that strip orbital bounded up the linslerly side hy Milton Crock Drive, on the Wcatcrly side by Indian Creek, on Ilya Nortlielli, attic lobe Northerly lino of Lol 14, Mock 12, mdcoded Weaterly, and on the Soutlicrly chic by the South Iltic of Lot IS, Block 12,pataided Weilerly. Book21621/Page 8 2 Page 5 8 of 124 This instrument was prepared by and return to; Suzanne A. Dockerty, Esq, Suzanne A. Dockerty, P.A, 110 Merrick Way, 3 -13 Coral Gables, FL 33134 PARTIAL RELEASE OF COLLATERAL ASSIGNMENT OF RIGHT TO COLLECT ASSESSM) NJ AND ASSIGNMENT OF LIEN RIGHTS KNOW ALL MEN BY THESE PRESENTS: WHEREAS, EXECUTIVE NATIONAL BANK, A FLORIDA NATIONAL BANKING ASSOCIATION, (the "Assignee "), whose address is 9600 North Kendall Drive, Miami, FL 33176, is the owner and holder of a Collateral Assignment of Right to Collect Assessment and Assignment of Lien Rights executed as of December 1, 2016, by THE ALDEN HOTEL CONDOMINIUM OWNERS ASSOCIATION, INC., a Florida corporation ( "Assignor "), in favor of Assignee, and recorded in Official Records Book 30350, at Page 3491, of the Public Records of Miami -Dade County, Florida (the "Security Yreement "). WHEREAS, the said Assignor has requested the said Assignee to release the premises hereinafter described, being part of said premises, from the lien and operation of said Security Agreement. NOW, THEREFORE, that the said Assignee as well in consideration of the premises as of the sum of TEN DOLLARS ($10,00) to it paid by the said Assignor at the time of the execution hereof, the receipt whereof is hereby acknowledged, does remise, release, quit - claim, exonerate and discharge from the lien and operation of said Security Agreement unto the said Assignor and its successors or assigns, all that piece, parcel or tract of land, being a part of the premises conveyed by said Security Agreement , to -wit: See Exhibit '`A " attached hereto for legal description (the "Released Property"). TO HAVE AND TO HOLD the same, with the appurtenances, unto the said Assignor and its successors or assigns forever, freed, exonerated and discharged of and from the lien of said Security Agreement, and every part thereof; Provided always, nevertheless, that nothing herein contained shall in anywise impair, alter or diminish the effect, lien or encumbrance of the aforesaid Security Agreement on the remaining part of said collateral described in the Security Agreement not hereby released therefrom, or any of the rights and remedies of the holder thereof. [SIGNATURE PAGE TO FOLLOW] IN WITNESS WHEREOF, the said Assignee has caused these presents to be executed as of this day of_ 2017. Signed, sealed and delivered in the pres n of Z4/ a 6/6 Print Na e: aiie Iita1 . Print NameL: STATE OF FLORIDA COUNTY OF MIAMI-DADE ) SS: EXECUTIVE NATIONAL BANK By: Print Name: Title: foregoing instrument was acknpfl:edged befo me this a. tr day of Alla^ 2017, by ■ 1-"a as tzio _ of EXECUTIVE, NATIONAL BANK, on behalf o the bank. He/She i ( ) personally known to me or ( ) has produced as identification. Notary bli , t Florida Print Name of No My commission NORA CUESTA 'Is. Notary Public • State ol Florida • My Comm. Expires Mar 7,2019 Commission # FF 176536 /moo's' Bonded through National Notary Assn. IIP smir, mor EXHIBIT "A" That strip of land bounded on the Easterly side of Indian Creek Drive, on the Westerly side by Indian Creek, on the Northerly side by the Northerly line of Lot 14, Block 12, extended Westerly, and on the Southerly side by the South line of Lot 15, Block 12, extended Westerly, of Ocean Front Property of the Miami Beach Improvement Company's Subdivision, according to the rnap or plat thereof as recorded in Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. A Portion of Folio Numbers: 02- 3226 - 049.0010 and 02- 3226 - 001 -0920 3 Closing Affidavit (city) 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. City of Miami Beach, a Florida municipal corporation ( "City"), is the owner of the following described property to wit: That strip of land bounded on the Easterly side of Indian Creek Drive, on the Westerly side by Indian Creek, on the Northerly side by the Northerly line of Lot 14, Block 12, extended Westerly, and on the Southerly side by the South line of Lot 15, Block 12, extended Westerly, of Ocean Front Property of the Miami Beach Improvement Company's Subdivision, according to the map or plat thereof as recorded in Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. 2. 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 real estate and personal property taxes for the year 2017, which are not yet due and payable and the Collateral Assignment of night to Collect Assessment and Assignment of. Lien Rights, from the Alden Hotel Owners Association, Inc. to Executive National Bank, dated December 1, 2016 and recorded in O.R. Book 30350, Page 3491, of the Public Records of Miami -Dade County, Florida. 3. To the best of Affiant's knowledge, but without further independent inquiry, there have been no improvements, alterations, or repairs to the above described property for which the costs thereof remain unpaid, and there are no claims for labor or material furnished for repairing or improving the same which remain unpaid. 4. There have been no documents recorded in the Public Records of Miami -Dade County, Florida, subsequent to March 14, 2017, which affect title to the Property and City 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 City has no knowledge of any matter affecting title to the Property. 5. The City 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 Borrower which remains unsatisfied. There are no persons other than City in possession of the above described property. 6. There are no matters pending against the City 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. City has not and will not execute any instruments that would adversely affect the interest to be insured. City'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, but without further independent inquiry, there are no disputes concerning the boundary lines of the property, and the operation of any buildings on said property has been in compliance with the applicable building codes, ordinances and statutes. 9. Affiant has received no notice of any public hearing regarding assessment for improvements or changes in applicable zoning laws concerning said property within the past ninety (90) days. 10. There are no actions or proceedings now pending in any State or Federal Court to which the City 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. 11. To the best of Affiant's knowledge, but without further independent inquiry, there are no unrecorded easements, claims of easement or rights -of -way affecting all or any portion of the property. 12. This affidavit is given for the purpose of clearing any possible question or objection to the title to the above referenced property and to induce SUZANNE A. DOCKERTY, P.A. and Old Republic National Title Insurance Company to File Number 247174 -6 DoubteTimeo issue title insurance on the subject property with the knowledge that said title companies are relying upon the statements set forth herein. 13. City hereby holds SUZANNE A. DOCKERTY, P.A. and Old Republic National Title Insurance Company harmless and fully indemnifies same (including but not limited to attorney's fees, whether suit be brought or not, and at trial and all appellate levels, and court costs and other litigation expenses) with rasped to the matters set forth herein. "Affiant" and "City" include singular or plural as context so requires or admits. City 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. City 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 I have read the foregoin Affidavit and ot the facts stated in it are true. City of Miami Beach, a Flo municipal corporation State of Florida County of Miami-Dade The foregoing instrument was sworn to and subscribed by jimmy L. Moraies, City Manager behatioTtitecarp k is personally known [Notary Seal] A , GISELA NANSON TORRES .1"' Notary Public • State of Florida COMMI8111011 # FF 943957 My Comm. Empires Apr B, 2020 404' Bonded throui National Nolary Assn, 41pompilsmr wrmarmapesarlwww.ap.w% Closing elifirlarlt (!a:Nance) .• Pap 2 File Numtvr 247174.6 13y: Print Name: Tide: Cit :Lanny . Morales Manager 1,7 be fore tne this day of. 2017 of City of MiainiJ3ach , aFIOrida municipal corporation, on 10 me or ] has pro n drive3license as identification A*4t, awry Public Printed Name: My Commissiota Expires: APPROVED AS TO FORM & LA UAGE gnE UTION City Attorney Dot Doublehimm (American Land Title F ^ ,•ociation - Owner's Policy Adopted 6/17/2006) (With F' ^rida Modifications) i t OWNER'S POLICY OF TITLE INSURANCE OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY Any notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Florida corporation (the "Company ") insures, as of Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid, (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning). restricting, regulating, prohibiting, or relating to (a) the occupancy, use, or enjoyment of the Land; (b) the character, dimensions, or location of any improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice, (Covered Risks continued) In Witness Whereof, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of the Company. OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY A Stock Company 400 Second Avenue South, Minneapolis, Minnesota 55401 (612)371.1111 President Secretary SERIAL OF6- 8511005 FORM OF6 (rev. 12/10) (With Florida Modifications) File Number: 247174 -6 Page 1 of 5 DoubleTime® 7.0.6 Old Republic National Title Insurance t;ompany OWNER'S POLICY Schedule B Policy No.: OF6- 8511005 Agent's File Reference: 247174 -6 This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses that arise by reason of: 1. General or special taxes and assessments required to be paid in the year 2017 and subsequent years. 2. Restrictions, conditions, reservations, easements, and other matters contained on the Plat of Ocean Front Property of the Miami Beach Improvement Co., as recorded in Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. 3. Rights of others to use that portion of the insured land lying within the waters of canal shown on Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. 4. 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. 5. 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. 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. Riparian and littoral rights are not insured. Page 2 of 2 Form OF6 -SCH.-B (rev. 12 /10)(With Florida Modifications) DoubleTime® 7.0,6 Old Republic National Title Insurance Company OWNER'S POLICY Schedule A Policy No.: Date of Policy: Agent's File Reference: 0F6- 8511005 August 23, 2017 @ 12:27 PM 247174 -6 Amount of Insurance: $160,000.00 Premium: $875.00 Address Reference: 2925 Indian Creek Drive, Miami, FL 33140 1. Name of Insured: City of Miami Beach, a Florida municipal corporation 2. The estate or interest in the Land that is insured by this policy is: Fee Simple as shown by instrument recorded as Document No. 20170086909 in Official Records Book 30421, Page 3577, of the Public Records of Miami -Dade County, Florida. 3. Title is vested in: City of Miami Beach, a Florida municipal corporation 4. The Land referred to in this policy is described as follows: That strip of land bounded on the Easterly side of Indian Creek Drive, on the Westerly side by Indian Creek, on the Northerly side by the Northerly line of Lot 14, Block 12, extended Westerly, and on the Southerly side by the South line of Lot 15, Block 12, extended Westerly, of Ocean Front Property of the Miami Beach Improvement Company's Subdivision, according to the map or plat thereof as recorded in Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. Old Republic National Title Insurance Company 400 Second Avenue South, Minneapolis, Minnesota 55401, (612) 371 -1111 Issuing Agent: SUZANNE A. DOCKERTY, P.A. 110 Merrick Way Suite 3 -B Coral Gables, FL 33134 8;20120118 Form OF6 -SCH.-A (rev. 12 /10)(With Florida Modifications) Agent No.: 22264 Agent's Signature Suzanne A. Dockerty Attorney at Law Page 1 of 2 DoubleTime® 7.0.6 (Covered Risks continued) 6. An enforcement action based on the exerctoe of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1, (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii)the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Flown to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy, 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS 1. DEFINITION OF TERMS The following terns when used in this policy mean: (a) "Amount of Insurance ": The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b), or decreased by Sections 10 and 1 1 of these Conditions. (b) "Date of Policy ": The date designated as "Date of Policy" in. Schedule A. (c) "Entity": A corporation, partnership, trust, limited liability company, or other similar legal entity. (d) "Insured ": The Insured named in Schedule A. (i) the term "Insured" also includes (A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives, or next of kin; (B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization; (C) successors to an Insured by its conversion to another kind of Entity; (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title (1) if the stock, shares, memberships, or other equity interests of the grantee are wholly -owned by the named Insured, (2) if the grantee wholly owns the named Insured, FORM OF6 (rev. 12/10) (With Florida Modifications) Page 2 of 5 (3) if the grantee is wholly -owned 1i affiliated Entity of the named Insured, provided tjl ti1iated Entity and the named Insured are both wholly -owned by the same perso;, , Entity, or (4) if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate planning purposes. (ii) With regard to (A), (B), (C), and (D) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor Insured. (e) "Insured Claimant ": An Insured claiming loss or damage. (f) "Knowledge" or "Known ": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting the Title, (g) "Land ": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy. (h) "Mortgage ": Mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized by law. (i) "Public Records ": Records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection Liens filed in the records of the clerk of the United States District Court for the district where the Land is 'located. (j) "Title": The estate or interest described in Schedule A. (k) "Unmarketable Title ": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if the Title, as insured, is rejected as Unmarketable Title, If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice, 4. PROOF OF LOSS In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS (a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only' those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right, in its sole discretion, to appeal any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e- mails, disks, FORM OF6 (rev. 12/10) (With Florida Modifications) Page 3 of 5 tapes, and videos whether bearing a date be` or after Date of Policy, that reasonably pertain t� • loss or damage. Further, if requested by any authorized representative of the Company, 'L._.. Insured Claimant shall grant its permission, in b,..ttng, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Cotnpany pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim, Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall tcrrninate, including any liability or obligation to defend, prosecute, or continue any litigation. S. DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured, (i) the Amount of Insurance shall be increased by 10 %, and (ii) the Ensured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of 'Unmarketable Title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment, 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. FORM OF6 (rev. 12/10) (With Florida Modifications) Page 4 of 5 If a payment on account of a claim does no; iy cover the loss of the Insured Claimant, the Coni y shall defer the exercise of its right to recover until after the Insured Claimant shall have ret,- vetted its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARBITRATION Unless prohibited by applicable law, arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed to by both the Company and the Insured at the time of the controversy or claim. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, and service of the Company in connection with its issuance or the breach of a policy provision or other obligation. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the Ensured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the Land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator (s) may be entered in any court having jurisdiction thereof The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO TEIIS POLICY; POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole, (b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim whether or not based on negligence shall be restricted to this policy. (e) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. 16. SEVERABILITY Inn the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM (a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the '.law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located, Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction, 18. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at 400 Second Avenue South, Minneapolis, Minnesota 55401.2499, Phone: (612) 371 -1111. FORM OF6 (rev. 12/10) (With Florida Modifications) Page 5of5 o vo .41 g 0, 0 tm 0 Q Settlement Statement Grantee: City of Miami Beach, a Florida municipal corporation 1700 Convention Center Drive, 4th Floor, Miami Beach, Florida 33139 Grantor: The Alden 2925 Indian Creek Drive, Miami Beach, Florida 33140 Property Location: 2925 Indian Creek Drive, Miami Beach, Florida 33140 (See Exhibit A attached) Date: S tPT- f0(67' !/G l' , 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 $350) $ 0 Title hlsurance Premium ($171,220): $ 875.00 Settlement Fee: (POC $250) $ 250.00 Clerk of Court Recording Fee: Easement Agreement: Documentary Stamp Tax: Certified Copies: Wire Transfer Fee /FedEx: Total Grantee Settlement Fees: $ 61.00 $ 1.05 $ 10.00 $ 100.00 $ 1,297.05 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 Miami Beach, a Florida i`iunicipal corporation. By: Print Name /Title Approved as to form and Language for Execution By: City'? ttorney Exhibit "A" Legal Description That strip of land bounded on the Easterly side of Indian Creek Drive, on the Westerly side by Indian Creek, on the Northerly side by the Northerly line of Lot 14, Block 12, extended Westerly, and on the Southerly side by the South line of Lot 15, Block 12, extended Westerly, of Ocean Front Property of the Miami Beach Improvement Company's Subdivision, according to the map or plat thereof as recorded in Plat Book 5, Page 7, Public Records of Miami -Dade County, Florida. Property Search Application - Miami -Fade County Page 1 of 1 OFFICE OF THE PROPERTY APPRAISER Property Information Folio: Property Address: Owner Mailing Address 02 -3226- 049 -0760 Summary Report Generated On : 10/6/2017 PA Primary Zone Primary Land Use CITY OF MIAMI BEACH 1700 CONVENTION CENTER DR MIAMI BEACH, FL 33139 USA 9701 RECREATIONAL 8080 VACANT GOVERNMENTAL : VACANT LAND - GOVERNMENTAL Beds /Baths /Half 0 /0 /0 Floors Living Units 0 Actual Area Living Area Adjusted Area 0 0 Sq.Ft 0 Sq.Ft 0 Sq.Ft Lot Size Year Built 2,971 Sq.Ft Assessment Information Year Land Value 0 2017 $29,710 2016. 2015 Building Value XF Value $0 $0 Market Value $29,710 Assessed Value $29,710 Benefits Information Benefit Municipal Type 2017 2016 2015 Exemption $29,710 Note: Not all benefits are applicable to all Taxable Values (i.e. County, School Board, City, Regional). Short Legal Description M B IMPROVEMENT CO SUB PB 5 -7 STRIP OF LAND BOUNDED BY ELY SIDE BY INDIAN CREEK DR ON WLY SIDE OF INDIAN CREEK ON NLY SIDE OF Taxable Value Information 2017 2016 2015 County Exemption Value Taxable Value School Board Exemption Value Taxable Value $29,710 $0 $29,710 City Exemption Value Taxable Value Regional $0 $29,710 $0 Exemption Value Taxable Value Sales Information Previous OR Book- Price Price Page $29,710 $0 Qualification Description 10/20/2016 $0 30421 -3577 Corrective, tax or QCD; min consideration The Office of the Property Appraiser is continually editing and updating the tax roll, This website may not reflect the most current information on record. The Property Appraiser and Miami -Dade County assumes no liability, see full disclaimer and User Agreement at http: / /www.miamidade,gov /info /disclaimer.asp Version: http://www.miamidade.gov/propertysearch/ 10/6/2017