Marked-Up Title Commitment RESOLUTIONS
2023-32637
2023-32638
MARKED-UP TITLE COMMITMENT
� ) Fidelity National Title Insurance company
Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment
Condition 5.e.:
Issuing Agent: Stearns Weaver Miller Weissler Alhadeff&Sitterson, P.A.
Issuing Office: 150 West Flagler Street, 2200 Museum Tower
Miami, FL 33130
Issuing Office's ALTA®Registry ID:
Loan ID Number:
Commitment Number: 11389795
Issuing Office File Number: 41191.0066
Property Address: 165-185; 280-300 S. Shore Drive
Miami Beach, FL 33141
Revision Number: I
SCHED LEA � �j�rL'*-'
1. Commitment Date / ()
2. Policy to be issued:
A. 2006 ALTA Owner's Policy with Florida Modifications
Proposed Insured: Vista Breeze, Ltd., a Florida limited partnership
Proposed Amount of Insurance: $57,332,741.00
B. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Housing Finance Authority of Miami-Dade County, a public body corporate and politic,
the Bank of New York Mellon Trust Company, N.A., a national banking association, as Fiscal Agent on
behalf of Bank of America, N.A., a national banking association, as Initial Funding Lender, pursuant to a
Funding Loan Agreement dated , 2023, their successors and/or assigns as their interests may
appear.
Proposed Amount of Insurance: $32,500,000.00
C. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Florida Housing Finance Corporation (VIABILITY)
Proposed Amount of Insurance: $4,300,000.00
D. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Florida Housing Finance Corporation (SAIL)
Proposed Amount of Insurance: $3,000,000.00
E. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Florida Housing Finance Corporation (ELI)
Proposed Amount of Insurance: $600,000.00
F. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Florida Housing Finance Corporation (NHTF)
Proposed Amount of Insurance: $1,301,500.00
G. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Miami-Dade County(SURTAX)
Proposed Amount of Insurance: $5,950,000.00
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I 1
#121840'4v7
H. INTENTIONALLY DELETED.
I. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: City of Miami Beach(HOME)
Proposed Amount of Insurance: $1,003,969.00
J. 2021 ALTA Loan Policy with Florida Modifications
Proposed Insured: Housing Authority of the City of Miami-Beach
Proposed Amount of Insurance: $8,800,000.00
3. The estate or interest in the Land at the Commitment Date is: (Identify each estate or interest covered, i.e.,
fee, leasehold, etc.)
Leasehold
4. The Title is, at the Commitment Date, vested in: (Identify vesting for each estate or interest identified in Item 3
above)
Vista Breeze, Ltd., a Florida limited partnership by virtue of the Lease dated August 6, 2021, as evidenced
by the Memorandum of Lease recorded June 30, 2023, in Official Records Book 33775, Page 3426 (As to
Parcel 1), and the Lease dated August 6, 2021, as evidenced by the Memorandum of Lease recorded
June 30, 2023, in Official Records Book 33775, Page 3421 (As to Parcel 2)
5. The Land is described as follows in Exhibit"A"attached hereto and made part hereof.
Countersigned:
By:
Authoriz fficer or Agent
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AME-
IANI)TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association
Page I2
Order Number: 11389795
Fidelity National Title Insurance Company 41191.0066
SCHEDULE B, PART I Requirements
All of the fo swing Requirements must be met:
1. The Propo ed Insured must notify the Company in writing of the name of any party not referred to in this
Commitmen who will obtain an interest in the Land or who will make a loan on the Land. The Company may
then make as•itional Requirements or Exceptions.
2. Pay the agreed .,mount fo he estate or interest to be insured.
3. Pay the premiums fee nd c arges for the Policy to the Company.
4. Documents satisfact•ry to the Co pany that convey the Title or create the Mortgage to be insured, or both,
must be properly authorized, executed,delivered, and recorded in the Public Records.
A. Recordation of a Se.on.-A • _i deb -nd Restated Ground Lease, or an Amended and Restated
Memorandum of Gro d Leas- ereof, by and between Vista Breeze, Ltd., a Florida limited partnership,
and the Housing Autho ty - he •,ty of Miami Beach, a public body corporate and politic, amending and
restating the following --se:
Amended and Restated G •und Lease greement dated August 6, 2021, by and between the Housing
Authority of The City of Mia i Beach blic body corporate and politic, as Landlord, and Vista Breeze,
Ltd., Florida limited partnersh •, as Tenant as evidenced by those Memoranda of Lease, recorded June
30, 2023, in Official Records Book--33775-, Page 3426(As to Parcel 1), and in Official Records Book
33775, Page 3421 (As to Parcel ).
Said Second Amended and Resta :d Gro nd L-ase must be in strict compliance with all state laws, By
Laws, Resolutions and Ordinance N.;ge' mu verify that the person executing the Second Amended
and Restated Ground Lease/Amender an. Re • -d Memorandum of Ground Lease on behalf of the
Housing Authority of The City of Miami :-- - pu• .c body corporate and politic has the authority to
execute said instruments.
b. The Company will require the following _ •- ' ited Partnership:
1. Proof that the Limited Partnership w- _ •.t.'•r to acquiring title and is currently in good
standing.
2. Present for review a copy of the Limite. rtn-rship agreement and amendments thereto. Proof
of compliance with the terms of the agreement.
3. If the transaction is a lease of all or subst:ntially al .f t e Limited Partnership's assets or is
outside the ordinary course of its business, pro.f to. gener partners and the limited partners owning
a majority in interest have consented to the trans:ct'•n as re. fired by sections 620.1402 and 620.1406,
Florida Statutes.
4. Record in the Official Records an affidavit in a,cordance with Florida Statute 689.045(3)executed
by a general partner stating:
a) The names of the current general partners;
b) The general partner(s)executing the lease has a thority to lease;
c) Whether the transaction is a lease of all or substa Tally all of the Limited Partnership's assets;
d) Whether the transaction is in the ordinary course of'he Limited Partnership's business;
e) If the transaction is a lease of all or substantially all • the Limited Partnership's assets or is
outside the ordinary course of its business, that all general pa ners and the limited partners owning a
majority in interest have consented to the transaction; and
C170B09 ALTA ommitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA me bers in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American and Title Association.
PageI3
Order No.: 11389795
Fidelity National Title Insurance Company 41191.0066
SCHEDULE B, PART I Requirements
f) Neither the general partner(s)executing the lease, nor the Limited Partnership, has been a debtor
in ban• uptcy during the existence of the Limited Partnership.
5. any general partner(s)executing the lease is a business entity, proof of the good standing of the
entity an• •roof of authority of the person(s)who will sign on behalf of the entity.
The Compan reserves the right to make additional requirements upon review of the information above.
B. INTENTIONALL DEL` D
C. Duly executed Firs I - .age from Vista Breeze, Ltd., a Florida limited partnership, Mortgagor, (the
"Limited Partnership"W_, .y a general partner(s), to the Housing Finance Authority of Miami-Dade
410.
County, encumbering t e • .
1
The Company will require e follow',g as to the Limited Partnership:
1. Proof that the Limite• '-rtrl. was created prior to acquiring title and is currently in good
standing.
2. Present for review a cop f the imited Partnership agreement and amendments thereto. Proof
of compliance with the terms of th- e t.
3. If the transaction is a mortg _e all or substantially all of the Limited Partnership's assets or is
outside the ordinary course of its bust,ess, •r• that all general partners and the limited partners owning
a majority in interest have consented t. tfj- �'.-,n a ' n as required by sections 620.1402 and 620.1406,
Florida Statutes.
4. Record in the Official Records an :ffidavi accordance with Florida Statute 689.045(3)executed
by a general partner stating: `— ,_,
4iiii a) The names of the current general pa•ners;
b) The general partner(s)executing the •rtg e s authority to mortgage;
c) Whether the transaction is a mortgage • stantially all of the Limited Partnership's
assets;
d) Whether the transaction is in the ordinary c•u oft -_Limited Partnership's business;
e) If the transaction is a mortgage of all or subs-Ai all o the Limited Partnership's assets or is
outside the ordinary course of its business, that all ge - : •-• --rs and the limited partners owning a
majority in interest have consented to the transaction; a Id
f) Neither the general partner(s)executing the mo '•age, nor the Limited Partnership, has been a
debtor in bankruptcy during the existence of the Limited P- nership.
5. If any general partner(s)executing the mortgage is : business entity, proof of the good standing
of the entity and proof of authority of the person(s)who will si n on behalf of the entity.
The Company reserves the right to make additional requirement. upon review of the information above.
D. Duly authorized and executed Assignment of Mortgage from the Housing Finance Authority of Miami-
Dade County,to the Bank of New York Mellon Trust Company, N.A., -ssigning the above described First
Mortgage.
E. Duly executed Second Mortgage from Vista Breeze, Ltd., a Florida limit:d partnership, Mortgagor, (the
"Limited Partnership"), executed by a general partner(s), to the Florida •using Finance Corporation
(VIABILITY), in the amount of$4,300,000.00, encumbering the Land.
The Company will require the following as to the Limited Partnership:
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
lik
Page I 4
Order No.: 11389795
} 41191.0066
ot"' Fidelity iVationa! Title Insurance Company
SCHEDULE B, PART I Requirements
1. Proof that the Limited Partnership was created prior to acquiring title and is currently in good
standi
2. resent for review a copy of the Limited Partnership agreement and amendments thereto. Proof
of compli ce with the terms of the agreement.
3. If th- transaction is a mortgage of all or substantially all of the Limited Partnership's assets or is
outside the o •inary course of its business, proof that all general partners and the limited partners owning
a majority in in'-rest have consented to the transaction as required by sections 620.1402 and 620.1406,
Florida Statutes.
4. Record in he Official Records an affidavit in accordance with Florida Statute 689.045(3)executed
by a general partne stating:
a) The names . the cur e eneral partners;
b) The general p-rtner(s)exec ing the mortgage has authority to mortgage;
c) Whether the tra' actio is a m rtgage of all or substantially all of the Limited Partnership's
assets;
d) Whether the trans. I n is in the ordinary course of the Limited Partnership's business;
e) If the transaction is mortgage of all or substantially all of the Limited Partnership's assets or is
outside the ordinary course o . s , at all general partners and the limited partners owning a
majority in interest have conse ed e tr nsaction; and
f) Neither the general part r(s)ex u 'rig the mortgage, nor the Limited Partnership, has been a
debtor in bankruptcy during the ex ten o th imited Partnership.
5. If any general partner(s)ex ting the m gage is a business entity, proof of the good standing
of the entity and proof of authority t e person(s) ho will sign on behalf of the entity.
The Company reserves the right to mak additi al requirements upon review of the information above.
\ i'(. F. Duly executed Third Mortgage from Vista B eze, Lt , a Florida limited partnership, Mortgagor, (the
"Limited Partnership"), executed by a genera a er(s), to the Florida Housing Finance Corporation
(SAIL), in the amount of$3,000,000.00, encu ering th d.
The Company will require the following as to the L. ited P rtnership:
1. Proof that the Limited Partnership was creat prior to equi\g title and is currently in good
standing.
2. Present for review a copy of the Limited Partne ip agre rQent and amendments thereto. Proof
of compliance with the terms of the agreement.
3. If the transaction is a mortgage of all or substantia all of •- imited Partnership's assets or is
outside the ordinary course of its business, proof that all gen- - partners and the limited partners owning
a majority in interest have consented to the transaction as req,ired by sc'•ns 620.1402 and 620.1406,
Florida Statutes.
4. Record in the Official Records an affidavit in accordance`it .,da S ute 689.045(3)executed
by a general partner stating:
a) The names of the current general partners;
b) The general partner(s)executing the mortgage has authority • mortgage;
c) Whether the transaction is a mortgage of all or substantially all •f t,e Limit Partnership's
assets;
d) Whether the transaction is in the ordinary course of the Limited P- ners, p's business;
e) If the transaction is a mortgage of all or substantially all of the Limi :• 'artnership's assets or is
outside the ordinary course of its business, that all general partners and the ited partners owning a
majority in interest have consented to the transaction; and
C170B09 ALTA Commitment for Titl= Insurance(7-1-21)w-FL Mod
nimi
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND TITLL
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page15
Order No.: 11389795
41191.0066
Fidelity National Title Insurance Company
SCHEDULE B, PART I Requirements
f) Neithe the general partner(s)executing the mortgage, nor the Limited Partnership, has been a
debtor in bankru tcy during the existence of the Limited Partnership.
5. If any ge -ral partner(s)executing the mortgage is a business entity, proof of the good standing
of the entity and proof of authority of the person(s)who will sign on behalf of the entity.
The Company reserv- the right to make additional requirements upon review of the information above.
G. Duly executed Fourth Mortgage from Vista Breeze, Ltd., a Florida limited partnership, Mortgagor, (the
"Limited Partnership"), ex:cuted by a general partner(s), to the Florida Housing Finance Corporation
(ELI), in the amount of$600,000.51, encumbering the Land.
The Company will require th��.1 ' 'ng as to the Limited Partnership:
1. Proof that the Limited P: •- . was created prior to acquiring title and is currently in good
standing.
2. Present for review a copy of the Li.•'ed Partnership agreement and amendments thereto. Proof
of compliance with the terms of the -emen .
3. If the transaction is a mortga. of II or substantially all of the Limited Partnership's assets or is
outside the ordinary course of its busi s, of that all general partners and the limited partners owning
a majority in interest have consented to h ansaction as required by sections 620.1402 and 620.1406,
Florida Statutes.
4. Record in the Official Records a Id it in ccordance with Florida Statute 689.045(3)executed
by a general partner stating:
a) The names of the current general p rtra
b) The general partner(s)executing the ortga•e has authority to mortgage;
c) Whether the transaction is a mortgag •l r ubstantially all of the Limited Partnership's
assets;
d) Whether the transaction is in the ordina c.urse of the Limited Partnership's business;
e) If the transaction is a mortgage of all or s bstanti ' all of the Limited Partnership's assets or is
outside the ordinary course of its business, tha all ral pa'ners and the limited partners owning a
majority in interest have consented to the tran•acti ; and
f) Neither the general partner(s)executin• the ortgag-, nor the Limited Partnership, has been a
debtor in bankruptcy during the existence of the Li' ' -• nership.
5. If any general partner(s)executing the mortgage is a business entity, proof of the good standing
of the entity and proof of authority of the person(s)who will sign on behalf of the entity.
The Company reserves the right to make additional requi ements upon review of the information above.
H. Duly executed Fifth Mortgage from Vista Breeze, Ltd., a Fl• ida limited partnership, Mortgagor, (the
"Limited Partnership"), executed by a general partner(s), to e Florida Housing Finance Corporation
(NHTF), in the amount of$1,301,500.00, encumbering the L-nd.
The Company will require the following as to the Limited Partn:rship:
1. Proof that the Limited Partnership was created prior to aE quiring title and is currently in good
standing.
2. Present for review a copy of the Limited Partnership agree ent and amendments thereto. Proof
of compliance with the terms of the agreement.
3. If the transaction is a mortgage of all or substantially all of th Limited Partnership's assets or is
outside the ordinary course of its business, proof that all general partn rs and the limited partners owning
C170B09 ALTA Commit ent for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AMkAN
LAND TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIAI ION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Pagel6
Order No.: 11389795
41191.0066
Fidelity National Title Insurance Company
Ma
SCHEDULE B, PART I Requirements
a majorit in interest have consented to the transaction as required by sections 620.1402 and 620.1406,
Florida Sta utes.
4. Record in the Official Records an affidavit in accordance with Florida Statute 689.045(3)executed
by a general •.rtner stating:
a) The na, es of the current general partners;
b) The gen:ral partner(s)executing the mortgage has authority to mortgage;
c) Whether t e transaction is a mortgage of all or substantially all of the Limited Partnership's
assets;
d) Whether the ansaction is in the ordinary course of the Limited Partnership's business;
e) If the transacti.n is a mortgage of all or substantially all of the Limited Partnership's assets or is
outside the ordinary cou e of its blusi ess, that all general partners and the limited partners owning a
majority in interest have consentedto th transaction; and
f) Neither the genera •artner(s)executing the mortgage, nor the Limited Partnership, has been a
debtor in bankruptcy during t e -xistence of the Limited Partnership.
5. If any general partner e :. ting V..mortgage is a business entity, proof of the good standing
of the entity and proof of authors o• - •efon(s)who will sign on behalf of the entity.
The Company reserves the right to ake ad itional requirements upon review of the information above.
I. Duly executed Sixth Mortgage from Vi.to Bre , Ltd., a Florida limited partnership, Mortgagor, (the
"Limited Partnership"), executed by a g=, al partner(s), to the Miami-Dade County(PHCD), in the
amount of$5,950,000.00, encumbering t'e La •
\/0 The Company will require the following as to the Li•Iited Partnership:
1. Proof that the Limited Partnership was --t•d prior to acquiring title and is currently in good
standing.
2. Present for review a copy of the Limited •- •-1.. • -•reement and amendments thereto. Proof
of compliance with the terms of the agreement.
3. If the transaction is a mortgage of all or sub 'antially all of the Limited Partnership's assets or is
outside the ordinary course of its business, proof that :II ene-al partners and the limited partners owning
a majority in interest have consented to the transaction .s e d by sections 620.1402 and 620.1406,
Florida Statutes.
4. Record in the Official Records an affidavit in acco da w h Florida Statute 689.045(3)executed
by a general partner stating:
a) The names of the current general partners;
b) The general partner(s)executing the mortgage h.'s - thor • to mortgage;
c) Whether the transaction is a mortgage of all or sub .1 ally all of the Limited Partnership's
assets;
d) Whether the transaction is in the ordinary course of the ►imited Partnership's business;
e) If the transaction is a mortgage of all or substantially all o the Limited Partnership's assets or is
outside the ordinary course of its business, that all general partner and the limited partners owning a
majority in interest have consented to the transaction; and
f) Neither the general partner(s)executing the mortgage, nor tre Limited Partnership, has been a
debtor in bankruptcy during the existence of the Limited Partnership.
5. If any general partner(s)executing the mortgage is a business ntity, proof of the good standing
of the entity and proof of authority of the person(s)who will sign on behalf
of the entity.
The Company reserves the right to make additional requirements upon re 'ew of the information above.
C170B09 ALTA Commitment r Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I 7
Order No.: 11389795
41191.0066
8s Fidelity National Title Insurance Company
SCHEDULE B, PART I Requirements
J. INTENTIONALLY 'ELETED.
K. Duly executed Amended and Restated Leasehold Mortgage, Security Agreement and Fixture Filing by
and between Vista Br=-ze, Ltd., a Florida limited partnership, and the City of Miami-Beach(HOME),
amending and restating that Leasehold Mortgage, Security Agreement and Fixture Filing in favor of the
City of Miami Beach, Flo da, dated September 21, 2023, recorded September 27, 2023, in Official
Records Book 33902, Pag: 1175.
The Company will require the ollowi • to the Limited Partnership:
1. Proof that the Limited •-h•li hip was created prior to acquiring title and is currently in good
standing.
2. Present for review a copy o` 1t1":Partnership agreement and amendments thereto. Proof
of compliance with the terms of the -. eement.
3. If the transaction is a mortga•- of all or ubstantially all of the Limited Partnership's assets or is
outside the ordinary course of its busine s, pro at all general partners and the limited partners owning
a majority in interest have consented to th ransa tion as required by sections 620.1402 and 620.1406,
Florida Statutes.
4. Record in the Official Records an a I in accordance with Florida Statute 689.045(3)executed
by a general partner stating:
a) The names of the current general part
b) The general partner(s)executing the m g has authority to mortgage;
c) Whether the transaction is a mortgage of -II or substantially all of the Limited Partnership's
assets;
d) Whether the transaction is in the ordinary cur - of ',e Limited Partnership's business;
s‘4\ e) If the transaction is a mortgage of all or subs anti- ly : of the Limited Partnership's assets or is
outside the ordinary course of its business,that all ge'eral partners and the limited partners owning a
majority in interest have consented to the transaction; . •
f) Neither the general partner(s)executing the mo •a•e, • the Limited Partnership, has been a
debtor in bankruptcy during the existence of the Limited
5. If any general partner(s)executing the mortgage ii . nes entity, proof of the good standing
of the entity and proof of authority of the person(s)who will I•to be alf of the entity.
The Company reserves the right to make additional requirem;nts .on eview of the information above.
L. Duly executed Amended and Restated Declaration of Restricti - Cove :nts amending and restating that
certain Declaration of Restrictive Covenants by and between • • s •eze, Ltd., Housing Authority of the
City of Miami Beach, and the City of Miami Beach, Florida, recorded September 27, 2023, in Official
Records Book 33902, Page 1195.
M. Duly executed Eighth Mortgage from Vista Breeze, Ltd., a Florida li 'ited partnership, Mortgagor, (the
"Limited Partnership"), executed by a general partner(s),to the Hous g Authority of the City of Miami-
Beach, encumbering the Land.
The Company will require the following as to the Limited Partnership:
1. Proof that the Limited Partnership was created prior to acquiring itle and is currently in good
standing.
2. Present for review a copy of the Limited Partnership agreement a d amendments thereto. Proof
of compliance with the terms of the agreement.
C170B09 ALTA Commitment r Title Insurance(7-1-21)w-FL Mod
milmm
Copyright 2021 American Land Title Association.All rights reserved. AMMICAN
LAND TITLL
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good s nding ASSOC IATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Ass ciation.
Page l8
Order No.: 11389795
Fidelity National Title Insurance Company 41191.0066
SCHEDULE B, PART I Requirements
3. If the transaction is a mortgage of all or substantially all of the Limited Partnership's assets or is
outside t,e ordinary course of its business, proof that all general partners and the limited partners owning
a majority ' interest have consented to the transaction as required by sections 620.1402 and 620.1406,
Florida Stat es.
4. Reco • in the Official Records an affidavit in accordance with Florida Statute 689.045(3)executed
by a general pa ner stating:
a) The nam_s of the current general partners;
b) The gener:I partner(s)executing the mortgage has authority to mortgage;
c) Whether the ransaction is a mortgage of all or substantially all of the Limited Partnership's
assets;
d) Whether the tr. sact in is in the ordinary course of the Limited Partnership's business;
e) If the transactie 's a • age of all or substantially all of the Limited Partnership's assets or is
outside the ordinary cours. • is bus' ss, that all general partners and the limited partners owning a
majority in interest have co sented to the transaction; and
f) Neither the general •.rtner(s)executing the mortgage, nor the Limited Partnership, has been a
debtor in bankruptcy during the'exi '-a •f the Limited Partnership.
5. If any general partner( exec the mortgage is a business entity, proof of the good standing
of the entity and proof of authori of : person(s)who will sign on behalf of the entity.
The Company reserves the righ o - - :•. itional requirements upon review of the information above.
5. INTENTIONALLY DELETED.
6. Proof of payment of any outstanding asse ' ' favor of Miami-Dade County, Florida, any special taxing
district and any municipality. NOTE: If this re•uirement is not satisfied the following exception will appear on
Schedule B:
Any outstanding assessments in favor of Miam .de ounty, Florida, any special taxing district and any
municipality.
7. Proof of payment of service charges for water, sew: : to and •.s, if any, through the date of closing.
NOTE: If this requirement is not met the following - ,ception appear on Schedule B:
Any lien provided for by Florida Statutes in favor of an citsrgiCriirvillage or port authority for unpaid service
charges for service by any water, sewer,waste or gas - stem suppl 'ng the insured land or service facilities.
8. An Affidavit in form acceptable to Fidelity National Title I rance omp ny("Company")and executed by or
on behalf of the current record owner(s)of the subject prd rty statin th t: (A)there are no parties in
possession of the subject property other than said current ec owner(s). (B)there are no encumbrances
upon the subject property other than as may be set forth in his Commit t; (C)there are no unrecorded
assessments which are due and payable and; (D)there ha been mpr vements made to or upon the
subject property within the last ninety(90)day period for whi h t e re in any outstanding and unpaid bills
for labor, materials or supplies for which a lien or liens may must be furnished to the Company, or,
in lieu thereof, an exception to those matters set forth in said ffidavit which are inconsistent with or deviate
from the foregoing requirements will appear in the policy or po"cies to be issued pursuant to this
Commitment.
9. Issuing agent must obtain from the Company or perform themse ves a title update three(3)business days
prior to closing,to verify that no adverse matters or defects appe r in the public records.
C170809 LTA Commitment for Title Insurance(7-1-21)w-FL Mod
ININIIIIIIN
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND IITLL
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALT members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page 19
Order No.: 11389795
'l Fidelit National Title Insurance Company 41191.0066
SCHEDULE B, PART I Requirements
10. Certificati• to the company of those maps of survey by Delta Mapping and Surveying, Inc., dated August 24,
2023, unde Drawing Nos. 23-0134 and 23-0135.
11. To terminate th followi •:
Notice of Comme -- t record-d on October 3, 2023 in Official Records Book 33910, Page 469.
1. Record a notice of : r natio ,to•ether with a contractor's final payment affidavit(with lien waiver).A
separate notice of ter ation, a►. contractor's final payment affidavit(with lien waiver), is required for each
notice of commenceme .
2. Obtain an owner's const - - (davit identifying all parties who have a direct contract with the owner, all
parties who served a notice • owner, •.• all parties who began furnishing labor, services or materials within
the last 45 days.
3. Obtain a waiver and release • lien u, ..final payment from (i)all lienors showing as unpaid in the
contractor's final payment affidavi P, lien waiver), (ii)all those who served a notice to owner or had a direct
contract with the owner as listed 'n he owner's construction affidavit, and (iii) all those who began furnishing
labor, services or materials within the las , days.
4. Obtain the Company's indemnity ag -:A signed by the owner/borrower.
NOTE: If the notice of commencement is •- - i- ed prior to completion of the construction or if the
subject transaction exceeds your agency' - orized limits,then approval of a Company State or Regional
Underwriter is required.
12. Record Termination of Declaration of Restricti - Covenant recorded in Official Records Book 24997, Page
546, Public Records of Miami-Dade County, Florida.
For 2023 Tax Year Parcel/ID#02-3203-007-1360, gross tax amount is$not available, exemption type is State,
and payment status is EXEMPT.
For 2023 Tax Year Parcel/ID#02-3203-007-1370, gross tax amount is$not available, exemption type is State,
and payment status is EXEMPT.
For 2023 Tax Year Parcel/ID#02-3203-007-1380, gross tax amount is$not available, exemption type is State, •
and payment status is EXEMPT.
For 2023 Tax Year Parcel/ID#02-3203-007-1160, gross tax amount is$not available, exemption type is State,
and payment status is EXEMPT.
For 2023 Tax Year Parcel/ID#02-3203-007-1170, gross tax amount is$not available, exemption type is State,
and payment status is EXEMPT.
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AME-
LAND TITLC
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIAL ION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I10
Order Number: 11389795
i 41191.0066
OA'R ,i Fidelity National Title Insurance Company
SCHEDULE B, PART II Exceptions
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law.
This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in
Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or
recirculated.Only the remaining provisions of the document will be excepted from coverage.
The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or
easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of
the Company: — -__
1. Defects, liens, encumbran s, adverse claims or other matters, if any, created, first appearing in the public
records or attaching s sequent to the effective date hergof but-prior_to_the-date-the--prt used--insured
acquires for value of re •d--the,estate-o Ir-nferest or mortgage thereon covered by this form.
2. Taxes and assessments for the year 2024 and subsequent years,which are not yet due and payable.
3. Standard Exceptions:
A. INTENTIONALLY DELETED.
`'n B-�R.igt-Rights-or eldint's of parties in poss stars not-sttavvn by the-public-moat-t
�/ C. lie ht t r services labor, or meterials heretofore-or--hereafterJtifni;ihed,_impo_sedby
Y"I -la an no shown by the public records.
It, D,--faxdg irassessments-which-are_not_shown_asgxisting liens in the public records
4.--Any-lien-provided-bar County-0rdine+ace-orby_Cbapter 159, Florida Statutes,inn favor of f_city,tow villa ems,
or eau aetxt_43r-unpaid-service charges for service _any meter, sewer or gas-system-supp in the .
VI -insur a land.
5. Restrictions, dedications, conditions, reservations, easements and other matters shown on the plat of
NORMANDY GOLF COURSE SUBDIVISION, as recorded in Plat Book 44, Page(s)62.
6. The nature, extent or existence of riparian rights or littoral rights is not insured. (As to Lots 6,7, and 8, Blk 56)
7. Any and all rights of the United States of America over artificially filled lands in what were formerly navigable
waters, arising by reason of the United States of America's control over navigable waters in the interest of
navigation and commerce, and any conditions contained in any permit authorizing the filling in of such areas.
8. Declaration of Restrictive Covenant recorded in Official Records Book 24997, Page 546, Public Records of
Miami-Dade County, Florida.
9. Terms, conditions and covenants contained in that Order before the Historic Preservation Board of the City of
Miami Beach recorded July 13, 2022, in Official Records Book 33287, Page 4767. (As to Lots 6, 7, and 8, Blk
56)
10. Terms, conditions and covenants contained in that Order before the Historic Preservation Board of the City of
Miami Beach recorded July 13, 2022, in Official Records Book 33287, Page 4800. (As to Lots 3, 4, and 5, Blk
55)
C170809 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Mom
Copyright 2021 American Land Title Association.All rights reserved. AMkRICAN
LAND 7ITLL
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I11
Order No.: 11389795
41191.0066
Fidelity National Title Insurance Company
SCHEDULE B, PART II Exceptions
11. Declaration of Restrictive Covenants in Lieu of Unity of Title recorded April 4, 2023, in Official Records Book
33649, Page 2944. (As to Lots 3, 4, and 5, Blk 55)
12. Declaration of Restrictive Covenants in Lieu of Unity of Title recorded April 17, 2023, in Official Records Book
33668, Page 2142. (As to Lots 6, 7, and 8, Blk 56)
13. Declaration of Restrictive Covenants in Lieu of Unity of Title recorded April 26, 2023, in Official Records Book
33681, Page 2327. (As to Lots 6, 7, and 8, Blk 56)
14. INTENTIONALLY DELETED.
15. INTENTIONALLY DELETED.
16. Amended and Restated Declaration of Restrictive Covenants by and between Vista Breeze, Ltd., Housing
Authority of the City of Miami Beach, and the City of Miami Beach, Florida, dated , 2023, recorded
, 2023 in Official Records Book_, Page— (NOTE:This item will appear as a B-2 subordinate
matter in the final loan policies.)
17. Pending disbursement of the full proceeds of the loan secured by the mortgage insured, this policy only
insures the amount actually disbursed, and the amount of insurance under this policy shall increase to the
extent of such disbursement up to the amount of insurance stated in Schedule A, but neither the date of policy
nor any other part of the policy shall be deemed changed by virtue of such disbursement. (As to the loan
policies)
18. Liability under this policy is presently limited to the value of the land, but will increase in direct proportion to
the actual cost of improvements erected thereon and fully paid for. Liability under this policy shall never
exceed the face amount of this policy. The effective date of this policy will not change and will be as stated in
Schedule A as are all other matters. (As to the owner's policy.)
19. Amended and Restated Leasehold Mortgage, Security Agreement and Fixture Filing in favor of the City of
Miami Beach, Florida, dated , 2023, recorded , 2023, in Official Records Book , Page—
(NOTE:This item will appear as a B-2 subordinate matter in the insured loan policies.)
20. The following matters disclosed by survey prepared by Delta Mapping and Surveying, Inc., dated October 23,
2023, under Drawing No. 23-0275:
a)Metal fence encroaches over the east boundary line of Lot 5, Block 55;
b)Seawall and wood dock encroach over the south boundary line of Lots 4 and 5 of Block 55; and
c)Wood fence encroaches over the west boundary line of Lot 3, Block 55.
21. The following matters disclosed by survey prepared by Delta Mapping and Surveying, Inc., dated October 23,
2023, under Drawing No. 23-0270:
a)Overhead wire and guy anchor encroach over the south boundary line of Lot 7, Block 56.
22. Terms and conditions of the Second Amended and Restated Ground Lease dated ,2023, by and
between Vista Breeze, Ltd., a Florida limited partnership, and Housing Authority of The City of Miami Beach, a
public body corporate and politic, as evidenced by that Amended and Restated Memorandum of Ground
Lease recorded , 2023, in Official Records Book_, Page—
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND TITLE
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.At other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I12
Order No.: 11389795
Fidelity National Title Insurance Company 41191.0066
SCHEDULE B, PART II Exceptions
INFORMATIONAL NOTE: South Florida Water Management District Environmental Resource Permit Notice
recorded in Official Records Book 24302, Page 3184.
NOTE: Exception 1 above shall be deemed deleted as of the time the settlement funds or proceeds of the loan to
be secured by the insured mortgage, as applicable, are disbursed by the Company or its authorized agent.
Neither the Company nor its agent shall, however, be under any duty to disburse any sum except upon a
determination that no such adverse intervening matters have appeared of record or occurred.
NOTES ON STANDARD EXCEPTIONS:
Items 3B, 3C, and 3D will be deleted from the policy(ies)upon receipt of an affidavit acceptable to the Company,
affirming that, except as disclosed therein (i) no parties in possession of the Land exist other than the record
owner(s); (ii) no improvements have been made to the Land within 90 days prior to closing which have not have
been paid for in full; and (iii) no unpaid taxes or assessments are against the Land which are not shown as
existing liens in the public records. Exception will be made for matters disclosed in the affidavit.
NOTE: Notwithstanding anything to the contrary contained herein,the final owner's policy will include ALTA
Endorsement Form(s) 13,without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final loan policies will include ALTA
Endorsement Form(s) 13.1, without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final owner's policy will include Florida
Endorsement Form(s)9.1,without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein,the final loan policy will include Florida
Endorsement Form(s)9,without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final owner's and loan policies will include
Florida Endorsement Form(s) Survey,without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final owner's and loan policies will include
Florida Endorsement Form(s) Contiguity, without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein,the final owner's policy will include Florida
Endorsement Form(s)Change of Partners, without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final loan policy will include ALTA
Endorsement Form(s) 14,without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final loan policy will include ALTA
Endorsement Form(s)6, without deletion or modification.
NOTE: Notwithstanding anything to the contrary contained herein, the final loan policy will include ALTA
Endorsement Form(s)8.1,without deletion or modification.
NOTE:All recording references in this form shall refer to the public records of Miami-Dade County, Florida, unless
otherwise noted.
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
ti
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND ITLL
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIA1 ION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association
Page I13
Order No.: 11389795
Rri
Fidelity National Title Insurance Company 41191.0066
SCHEDULE B, PART II Exceptions
NOTE: In accordance with Florida Statutes section 627.4131, please be advised that the insured hereunder may
present inquiries, obtain information about coverage, or receive assistance in resolving complaints, by contacting
Fidelity National Title Insurance Company, 13800 NW 14th Street, Sunrise, FL 33323; Telephone 954-217-1744.
Searched By: Patrick Quirk
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
EMMEN
Copyright 2021 American Land Title Association.All rights reserved. AMERICAN
LAND Ill LC
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOCIATION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I14
Order Number: 11389795
Ont" Fidelity National Title Insurance Company 41191.0066
EXHIBIT"A"
That leasehold estate created by that Second Amended and Restated Ground Lease dated , 2023, by and
between Vista Breeze, Ltd., a Florida limited partnership, and the Housing Authority of The City of Miami Beach, a
public body corporate and politic, as evidenced by that Amended and Restated Memorandum of Lease recorded
, 2023, in Official Records Book_, Page_, over the following described lands:
PARCEL 1:
LOT 3,4 and 5, Block 55, OF NORMANDY GOLF COURSE,ACCORDING TO THE PLAT THEREOF,AS
RECORDED IN PLAT BOOK 44,AT PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY,
FLORIDA.
PARCEL 2:
LOTS 6, 7 and 8, BLOCK 56, NORMANDY GOLF COURSE SUBDIVISION,ACCORDING TO THE PLAT
THEREOF RECORDED IN PLAT BOOK 44, PAGE 62, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY,
FLORI DA.
C170B09 ALTA Commitment for Title Insurance(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. AME
LAND TITLI
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing ASSOC ION
as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Page I15
Order No.:11389795
. •
Customer Reference: 41191.0066
�� , Fidelity National Title Insurance Company
ALTA 8.1 ENVIRONMENTAL PROTECTION LIEN ENDORSEMENT
This endorsement is issued as part of
Policy Number
issued by
Fidelity National Title Insurance Company
1. The Company insures against loss or damage sustained by the Insured by reason of lack of priority
of the lien of the Insured Mortgage over:
a. any environmental protection lien that, at the Date of Policy, is recorded in those records
established under State statutes at the Date of Policy for the purpose of imparting
constructive notice of matters relating to real property to purchasers for value and without
Knowledge, or is filed in the records of the clerk of the United States district court for the
district in which the Land is located, except as set forth in Schedule B; or
b. any environmental protection lien provided by any State statute in effect at the Date of Policy,
except environmental protection liens provided by the following State statutes: NONE
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any
of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of
Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous
endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.
Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
Dated: Stearns Weaver Miller Weissler Alhadeff&
Sitterson, P.A.
Authorized Signatory
E92609 ALTA 8.1 Environmental Protection Lien Endorsement(7-1-21)w-FL Mod
Copyright 2021 American Land Title Association.All rights reserved. sa
The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing as of the date of
use.All other uses are prohibited.Reprinted under license from the American Land Title Association.
Order No.:11389795
Olt \i I%•
fidelity National Title Insurance Company 41191.0066
ALTA 9-06 ENDORSEMENT
RESTRICTIONS, ENCROACHMENTS, MINERALS
LOAN POLICY
(with Florida Modifications)
Attached to Policy No. PRO FORMA
Issued By
Fidelity National Title Insurance Company
The insurance provided by this endorsement is subject to the Exclusions from Coverage, the Exceptions from Coverage contained
in Schedule B, and the Conditions in the policy.
The Company insures the owner of the Indebtedness secured by the Insured Mortgage against loss or damage sustained by reason
of:
1. Any incorrectness in the assurance that, at Date of Policy:
(a) There are no covenants, conditions or restrictions under which the lien of the Mortgage referred to in Schedule A can
be divested,subordinated or extinguished, or its validity, priority or enforceability impaired.
(b) Unless expressly excepted in Schedule B:
(1) There are no present violations on the Land of any enforceable covenants, conditions or restrictions, nor do
any existing improvements on the Land violate building setback lines shown on a plat of subdivision
recorded or filed in the Public Records.
(2) Any instrument referred to in Schedule B as containing covenants, conditions or restrictions on the Land
does not, in addition,
(i)establish an easement on the Land; (ii) provide a lien for liquidated damages; (iii) provide for a private
charge or assessment; (iv)provide for an option to purchase, a right of first refusal or the prior approval of a
future purchaser or occupant.
(3) There is no encroachment of existing improvements located on the Land onto adjoining land, nor any
encroachment onto the Land of existing improvements located on adjoining land.
(4) There is no encroachment of existing improvements located on the Land onto that portion of the Land
subject to any easement excepted in Schedule B.
(5) There are no notices of violation of covenants, conditions and restrictions relating to environmental
protection recorded in the Public Records.
2. Any future violation on the Land of an existing covenant, condition or restriction occurring prior to the acquisition of title to
the estate or interest in the Land, provided the violation results in:
(a) invalidity, loss of priority or unenforceability of the lien of the Insured Mortgage;or
ALTA 9-06 Endorsement Restrictions,Encroachments,Minerals
E10309 1 of 2 (6/17/06)(Florida modified 12/1/13)
Copyright American Land Title Association. All rights reserved.
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of
the date of use. All other uses are prohibited. Reprinted under license from the American Land
Title Association.
Order No.: 11389795
.� 41191.0066
IIn Fidelity National Title Insurance Company
(b) loss of Title to the estate or interest in the Land if the Insured shall acquire Title in satisfaction of the Indebtedness
secured by the Insured Mortgage.
3. Damage to existing improvements(excluding lawns, shrubbery or trees):
(a) which are located on or encroach upon that portion of the Land subject to any easement excepted in Schedule B,
which damage results from the exercise of the right to maintain the easement for the purpose for which it was granted
or reserved; or
(b) which results from the future exercise of any right to use the surface of the Land for the extraction or development of
minerals excepted from the description of the Land or excepted in Schedule B.
4. Any final court order or judgment requiring the removal from any land adjoining the Land of any encroachment excepted in
Schedule B.
5. Any final court order or judgment denying the right to maintain any existing improvement on the Land because of any
violation of covenants, conditions or restrictions or building setback lines shown on a plat of subdivision recorded or filed in
the Public Records.
Wherever in this endorsement the words "covenants, conditions or restrictions" appear, they shall not be deemed to refer to or
include the terms, covenants, conditions or limitations contained in an instrument creating a lease.
As used in paragraphs 1(b)(1) and 5, the words"covenants, conditions or restrictions"shall not be deemed to refer to or include any
covenants, conditions or restrictions relating to environmental protection.
The failure to expressly except any matter delineated in paragraphs 1(b)(1), 1(b)(2) or 1(b)(5) of this endorsement constitutes the
Company's agreement to indemnify against loss or damage resulting from any matters delineated in paragraphs 1(b)(1), 1(b)(2) or
1(b)(5)only and provides no coverage for any other matters set forth in the covenants, conditions and restrictions.
This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior
endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and
any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the
face amount thereof.
Dated: Stearns Weaver Miller Weissler Alhadeff&Sitterson,
P.A.
Authorized Signatory
ALTA 9-06 Endorsement Restrictions,Encroachments,Minerals
E10309 2 of 2 (6/17/06)(Florida modified 12/1/13)
Copyright American Land Title Association. All rights reserved.
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of
the date of use. All other uses are prohibited. Reprinted under license from the American Land
Title Association.
Order No.: 11389795
Fidelity National Title Insurance Company 41191.0066
ENDORSEMENT
LEASEHOLD LOAN
Attached to Policy No.: PRO FORMA
Issued By
Fidelity National Title Insurance Company
1. As used in this endorsement,the following terms shall mean:
a. "Evicted"or"Eviction": (a)the lawful deprivation,in whole or in part,of the right of possession insured by this policy, contrary to the
terms of the Lease or (b) the lawful prevention of the use of the Land or the Tenant Leasehold Improvements for the purposes
permitted by the Lease,in either case as a result of a matter covered by this policy.
b. "Lease":the lease agreement described in Schedule A.
c. "Leasehold Estate":the right of possession granted in the Lease for the Lease Term.
d. "Lease Term":the duration of the Leasehold Estate,as set forth in the Lease,including any renewal or extended term if a valid option
to renew or extend is contained in the Lease.
e. "Personal Property":property,in which and to the extent the Insured has rights,located on or affixed to the Land on or after Date of
Policy that by law does not constitute real property because (i) of its character and manner of attachment to the Land and (ii) the
property can be severed from the Land without causing material damage to the property or to the Land.
f. "Remaining Lease Term":the portion of the Lease Term remaining after the Tenant has been Evicted.
g. "Tenant":the tenant under the Lease and,after acquisition of all or any part of the Title in accordance with the provisions of Section 2
of the Conditions of this policy,the Insured Claimant.
h. "Tenant Leasehold Improvements": Those improvements, in which and to the extent the Insured has rights, including landscaping,
required or permitted to be built on the Land by the Lease that have been built at the Tenant's expense or in which the Tenant has an
interest greater than the right to possession during the Lease Term.
2. Valuation of Estate or Interest Insured:
If in computing loss or damage it becomes necessary to value the Title,or any portion of it,as the result of an Eviction of the Tenant,then,as to
that portion of the Land from which the Tenant is Evicted,that value shall consist of the value for the Remaining Lease Term of the Leasehold
Estate and any Tenant Leasehold Improvements existing on the date of the Eviction. The Insured Claimant shall have the right to have the
Leasehold Estate and the Tenant Leasehold Improvements affected by a defect insured against by the policy valued either as a whole or
separately. In either event,this determination of value shall take into account rent no longer required to be paid for the Remaining Lease Term.
3. Additional items of loss covered by this endorsement:
If the Insured acquires all or any part of the Title in accordance with the provisions of Section 2 of the Conditions of this policy and thereafter is
Evicted, the following items of loss, if applicable to that portion of the Land from which the Insured is Evicted shall be included, without
duplication, in computing loss or damage incurred by the Insured,but not to the extent that the same are included in the valuation of the Title
determined pursuant to Section 2 of this endorsement,any other endorsement to the policy,or Section 8(a)(iii)of the Conditions:
a. The reasonable cost of(i) removing and relocating any Personal Property that the Insured has the right to remove and relocate,
situated on the Land at the time of Eviction, (ii)transportation of that Personal Property for the initial one hundred miles incurred in
connection with the relocation, (iii) repairing the Personal Property damaged by reason of the removal and relocation, and (iv)
restoring the Land to the extent damaged as a result of the removal and relocation of the Personal Property and required of the
Insured solely because of the Eviction.
b. Rent or damages for use and occupancy of the Land prior to the Eviction that the Insured as owner of the Leasehold Estate may be
obligated to pay to any person having paramount title to that of the lessor in the Lease.
c. The amount of rent that, by the terms of the Lease,the Insured must continue to pay to the lessor after Eviction with respect to the
portion of the Leasehold Estate and Tenant Leasehold Improvements from which the Insured has been Evicted.
d. The fair market value, at the time of the Eviction, of the estate or interest of the Insured in any lease or sublease permitted by the
Lease and made by Tenant as lessor of all or part of the Leasehold Estate or the Tenant Leasehold Improvements.
Copyright American Land Title Association. All rights reserved. ainonnn
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are
prohibited. Reprinted under license from the American I.and Title Association •:
End ALTA Form 13.1-06 Leasehold Loan (6/17/06)
Revised 4/2/20I2
Order No.: 11389795
pFidelity National Title Insurance Company 41191.0066
e. Damages caused by the Eviction that the Insured is obligated to pay to lessees or sublessees on account of the breach of any lease
or sublease permitted by the Lease and made by the Tenant as lessor of all or part of the Leasehold Estate or the Tenant Leasehold
Improvements.
f. The reasonable cost to obtain land use, zoning, building and occupancy permits, architectural and engineering services and
environmental testing and reviews for a replacement leasehold reasonably equivalent to the Leasehold Estate..
g. If Tenant Leasehold Improvements are not substantially completed at the time of Eviction,the actual cost incurred by the Insured,less
the salvage value,for the Tenant Leasehold Improvements up to the time of Eviction. Those costs include costs incurred to obtain
land use, zoning, building and occupancy permits, architectural and engineering services, construction management services,
environmental testing and reviews,and landscaping.
This endorsement is issued as part of the policy. Except as it expressly states, it does not(i) modify any of the terms and provisions of the
policy,(ii)modify any prior endorsements,(iii)extend the Date of Policy,or(iv)increase the Amount of Insurance.To the extent a provision of
the policy or a previous endorsement is inconsistent with an express provision of this endorsement,this endorsement controls. Otherwise,this
endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
IN WITNESS WHEREOF,the Company has caused this Endorsement to be signed with the facsimile signatures of its President and Secretary
and sealed as required by its By-Laws.
FIDELITY NATIONAL TITLE INSURANCE COMPANY
Dated: )4/IVe
- Countersigned: By:
T• President
By:
Authorized Officer or Agent •
Attest:
Secretary
4. This endorsement does not insure against loss,damage or costs of remediation(and the Company will not pay costs, attorneys'fees or
expenses)resulting from environmental damage or contamination.
Copyright American Land Title Association. All rights reserved. nmam
The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are ,
prohibited. Reprinted under license from the American Land Title Association.
End ALTA Form 13.1-06 Leasehold Loan (6/17/06)
Revised 4/2/2012
Order No.: 11389795
j Fidelity National Title Insurance Company 41191.0066
ENDORSEMENT
CONTIGUITY
Attached to Policy No.: PRO FORMA
Issued by:
Fidelity National Title Insurance Company
The Company insures the insured herein against loss or damage by virtue of any inaccuracy in the following
statement,to wit:
Lot 3 is contiguous with Lot 4 on the east side of Lot 3 and the west side of Lot 4; Lot 4 is contiguous with Lot 5
on the east side of Lot 4 and the west side of Lot 5; and
Lot 6 is contiguous with Lot 7 on the east side of Lot 6 and the west side of Lot 7; Lot 7 is contiguous with Lot 8 on
the east side of Lot 7 and the west side of Lot 8.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of
the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or
(iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is
inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this
endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
Dated: Stearns Weaver Miller Weissler Alhadeff&
Sitterson, P.A.
Authorized Signatory
Endorsement Contiguity
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Order No.: 11389795
41191.0066
Fidelity National Title Insurance Company
ENDORSEMENT
SURVEY
Attached to Policy No. PRO FORMA
Issued By
Fidelity National Title Insurance Company
The Company hereby acknowledges the lands described in Schedule A are the same lands described in the
survey prepared by Delta Mapping and Surveying, Inc., dated October 23, 2023, survey certification dated
December 5, 2023, under Drawing No. 23-0275 and Delta Mapping and Surveying, Inc., dated October 23, 2023,
survey certification dated December 12, 2023, under Drawing No. 23-0270 ; however, the Company does not
insure the accuracy or completeness of said survey.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of
the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or
(iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is
inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this
endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
Dated: Stearns Weaver Miller Weissler Alhadeff&
Sitterson, P.A.
Authorized Signatory
Endorsement Survey
Fidelity National Title Insurance
Attached to and made a part of Policy Number: PRO FORMA
Issued By:
Fidelity National Title Insurance Company
When the policy is issued by the Company with a policy number and Date of Policy, the
Company will not deny liability under the policy or any endorsements issued with the policy
solely on the grounds that the policy or endorsements were issued electronically or lack
signatures in accordance with the Conditions.
This endorsement is issued as part of the policy. Except as it expressly states, it does not (i)
modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii)
extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision
of the policy or a previous endorsement is inconsistent with an express provision of this
endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the
terms and provisions of the policy and of any prior endorsements.
Dated:
Stearns Weaver Miller Weissler Alhadeff& Sitterson, P.A.
150 West Flagler Street, Miami, FL 33130
Authorized Officer or Licensed Agent
ALTA 39-06 Policy Authentication Page 1 of 1
(4-2-13)
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