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Resolution 2025-33680 RESOLUTION NO. 202533680 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, APPROVING, FOLLOWING SECOND READING/PUBLIC HEARING, A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT, DATED JULY 31, 2019, CURRENTLY AMONG THE CITY OF MIAMI BEACH ("CITY"), 7450 OCEAN TERRACE LLC, OCEAN TERRACE TRUSTEE LLC, OCEAN TERRACE RESIDENTIAL LLC, OCEAN TERRACE SHARED FACILITIES LLC, AND OCEAN TERRACE RETAIL LLC (COLLECTIVELY, "PROJECT DEVELOPER"), AND OTH STREETSCAPE, LLC ("PARK DEVELOPER"), FOR THE DEVELOPMENT OF THE OCEAN TERRACE PROPERTY, GENERALLY LOCATED AT 7409, 7421, 7433, 7435, 7437, 7439, 7441, AND 7449 COLLINS AVENUE, AND 7400, 7410, 7420, 7430, 7436, AND 7450 OCEAN TERRACE("DEVELOPMENT SITE"), AS AUTHORIZED UNDER SECTION 2.11.1 OF THE MIAMI BEACH RESILIENCY CODE (FORMERLY SECTION 118-4 OF THE CITY CODE), AND SECTIONS 163.3220 — 163.3243, FLORIDA STATUTES, WHICH FIRST AMENDMENT ELIMINATES THE REQUIREMENT THAT THE PROJECT INCLUDE AT LEAST 75 HOTEL UNITS. WHEREAS, the City, the Project Developer, and the Park Developer are the parties to that certain Development Agreement dated as of July 31, 2019, originally entered into by and among the City and 7450 OCEAN TERRACE LLC, 7436 OCEAN TERRACE LLC, 7420 OCEAN TERRACE INVESTMENT, LLC, 7410 OCEAN TERRACE LLC, 7400 OCEAN TERRACE, LLC, 7409 COLLINS AVE INVESTMENT, LLC, 7421 COLLINS AVE INVESTMENT, LLC, 7433 COLLINS AVE INVESTMENT, LLC, 7439 COLLINS AVE INVESTMENT LLC, 7441 COLLINS AVE INVESTMENT, LLC (collectively, the "Initial Developer Parties"), recorded at Book 31563, Page 1201, of the Official Records of Miami- Dade County, Florida; and WHEREAS, the Development Agreement authorizes the development of the Development Site as a mixed-use development (the "Project"), and contemplates the construction of certain public park and streetscape improvements in the vicinity of Ocean Terrace between 73rd Street and 75th Street, having an estimated value upon completion of approximately $14.8 million (the "Park/Streetscape Improvements"); and WHEREAS, the Initial Developer Parties assigned to the Park Developer, and the Park Developer assumed from the Initial Developer Parties, all of the rights and obligations of the "Developer" under the Development Agreement relating to the Park/Streetscape Improvements, pursuant to that certain Partial Assignment and Assumption of Development Agreement dated November 6, 2024, by and among the Initial Developer Parties and Park Developer, notice of which was delivered to the City on November 8, 2024; and WHEREAS, the Initial Developer Parties assigned to the Project Developer, and the Project Developer assumed from the Initial Developer Parties, all of the rights and obligations of the"Developer" under the Development Agreement other than those relating to the Park/Streetscape Improvements, pursuant to that certain Partial Assignment and Assumption of Development Agreement dated March 10, 2025, by and among the Initial Developer Parties and Project Developer, notice of which was delivered to the City on March 11, 2025; and WHEREAS, in accordance with the Development Agreement, the Park Developer is in process of completing the Park/Streetscape Improvements, and the Project Developer is in process of developing the Project; and WHEREAS, the Development Agreement specifies that the Project must include at least 75 hotel units; and WHEREAS, in response to market conditions that currently favor residential uses over hotel uses, the City and the Project Developer desire to amend the Development Agreement to eliminate the requirement that the Project include a minimum number of hotel units; and WHEREAS, Sections 163.3220 — 163.3243, Florida Statutes, and Section 2.11.1 of the Miami Beach Resiliency Code(formerly Section 118-4 of the City Code) require two public hearings for an amendment to a Development Agreement; and WHEREAS, the Administration and the Project Developer have negotiated the First Amendment to Development Agreement, a copy of which is attached hereto as Exhibit"A" to the Commission Memorandum accompanying this Resolution; and WHEREAS, in consideration of the City's approval and execution of the First Amendment to Development Agreement, Ocean Terrace Trustee LLC, as the fee-simple owner of the Tower Building within the Ocean Terrace project, has agreed to execute and record a Declaration of Restrictive Covenants, substantially in the form attached to the First Amendment to Development Agreement, against title to the Tower Building, providing that none of the residential units within the Tower Building shall be leased or rented for a period of less than six (6) months and one (1) day; and WHEREAS, on April 23, 2025,the City Commission approved the First Amendment to Development Agreement on first reading/public hearing; and WHEREAS, for the reasons as outlined in the Commission Memorandum accompanying this Resolution, the Administration recommends that the City Commission approve the First Amendment to Development Agreement following the second and final reading/public hearing; NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby approve, following second reading/public hearing, a First Amendment to the Development Agreement, dated July 31, 2019, currently among the City, 7450 Ocean Terrace LLC, Ocean Terrace Trustee LLC, Ocean Terrace Residential LLC, Ocean Terrace Shared Facilities LLC, and Ocean Terrace Retail LLC (collectively, "Project Developer"), and OTH Streetscape, LLC ("Park Developer"), for the development of the Ocean Terrace property, generally located at 7409, 7421, 7433, 7435, 7437, 7439, 7441, and 7449 Collins Avenue, and 7400, 7410, 7420, 7430, 7436, and 7450 ocean Terrace ("Development Site"), as authorized under Section 2.11.1 of the Miami Beach Resiliency Code (formerly Section 118-4 of the City Code), and Sections 163.3220 — 163.3243, Florida Statutes, which First Amendment eliminates the requirement that the Project include at least 75 hotel units. PASSED AND ADOPTED this .7/ day of Pecr 2025. ATTEST: MAY 7 7 2025 Steven Meiner, Mayor Rafael E. Granada, City Clerk APPROVED AS TO kiwcoRP NATO : FORM AND LANGUAGE & FOR EXECUTION *cr.City Attorney ov_. Date Resolutions - R7 C MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Eric Carpenter, City Manager DATE: May 21, 2025 9:25 a.m. Second Reading Public Hearing TITLE: OCEAN TERRACE DEVELOPMENT AGREEMENT -AMENDMENT A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, APPROVING, FOLLOWING SECOND READING/PUBLIC HEARING, A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT, DATED JULY 31, 2019, CURRENTLY AMONG THE CITY OF MIAMI BEACH ("CITY"), 7450 OCEAN TERRACE LLC, OCEAN TERRACE TRUSTEE LLC, OCEAN TERRACE RESIDENTIAL LLC, OCEAN TERRACE SHARED FACILITIES LLC, AND OCEAN TERRACE RETAIL LLC (COLLECTIVELY, "PROJECT DEVELOPER"),AND OTH STREETSCAPE, LLC ("PARK DEVELOPER"),FOR THE DEVELOPMENT OF THE OCEAN TERRACE PROPERTY, GENERALLY LOCATED AT 7409, 7421, 7433, 7435, 7437, 7439, 7441, AND 7449 COLLINS AVENUE, AND 7400, 7410, 7420, 7430, 7436, AND 7450 OCEAN TERRACE ("DEVELOPMENT SITE"), AS AUTHORIZED UNDER SECTION 2.11.1 OF THE MIAMI BEACH RESILIENCY CODE (FORMERLY SECTION 118-4 OF THE CITY CODE), AND SECTIONS 163.3220 — 163.3243, FLORIDA STATUTES, WHICH FIRST AMENDMENT ELIMINATES THE REQUIREMENT THAT THE PROJECT INCLUDE AT LEAST 75 HOTEL UNITS. RECOMMENDATION The Administration recommends that the Mayor and City Commission(City Commission)approve the attached Resolution, approving the proposed amendments to the Ocean Terrace development agreement at Second Reading Public Hearing. BACKGROUND/HISTORY On July 31, 2019, pursuant to Resolution No. 2019-30927, a Development Agreement was entered into by and among the City of Miami Beach and the developer of the Ocean Terrace parcel, generally bounded by 740, Street on the south, Collins Avenue on the west, 75th Street on the north and Ocean Terrace on the east. The terms of the Development Agreement apply to both the Ocean Terrace parcel (private land) and a proposed park along and directly to the east of the Ocean Terrace parcel (public land). The Development Agreement also authorized the vacation of portions of the Ocean Terrace, 74th Street and 75th Street rights-of-way (totaling approximately 45,920 square feet)to the developer and requiring the developer to grant a perpetual easement to the City for the vacated rights-of- way. In addition to the proposed project on the Ocean Terrace parcel, the developer agreed, and is required to develop, design, and construct, at the developer's sole cost and expense, certain public park and streetscape improvements along and to the east of Ocean Terrace shall be complete by June 2025. ANALYSIS 1808 of 2719 Ocean Terrace Project In 2021, the HPB approved a Certificate of Appropriateness for the redevelopment of the Ocean Terrace parcel. This included the renovation of existing, contributing structures within the parcel, as well as the construction of a new 235' residential tower building (Tower Building)located at the southeast corner of the development site and a new 7-story hotel building at the northwest corner of the site.The project also includes accessory commercial uses along Collins Avenue and Ocean Terrace, as well as a parking podium. On September 13, 2021, the HPB approved a Certificate of Appropriateness for the proposed park and streetscape improvements along and to the east of Ocean Terrace. In accordance with the Development Agreement, the developer is in process of completing the Ocean Terrace park and streetscape Improvements. The developer has also indicated that the development of the private parcel is moving forward. Proposed Amendments to the Development Agreement The Development Agreement specifies that the project on the Ocean Terrace parcel must include at least 75 hotel units. In response to market conditions that currently favor residential uses over hotel uses, the developer has proposed to amend the Development Agreement to eliminate the requirement that the project includes a minimum number of hotel units. The Administration is supportive of this proposed amendment, as the developer has agreed to execute and record a Declaration of Restrictive Covenants, substantially in the form attached to the First Amendment to Development Agreement, against title to the Tower Building, providing that none of the residential units within the Tower Building shall be leased or rented for a period of less than six (6) months and one (1) day. The Administration and the developer have negotiated the First Amendment to the Development Agreement, a copy of which is attached, which includes all agreed upon provisions related to the number of hotel units and the proffer to forgo the short-term rental of the residential units. UPDATE The proposed amendments to the Development Agreement were approved by the City Commission at First Reading on April 23, 2025, with no changes. FISCAL IMPACT STATEMENT No Fiscal Impact Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY) If applicable, the Business Impact Estimate (BiE)was published on: See BIE at: https:llwww.miamibeachg.gov/city-halllcityclerk/meetinq-notices/ FINANCIAL INFORMATION Not Applicable CONCLUSION The Administration recommends that the City Commission approve the attached Resolution, approving the proposed amendments to the Ocean Terrace development agreement at Second Reading Public Hearing. 1809 of 2719 Applicable Area North Beach Is this a "Residents Right to Know" item. Is this item related to a G.O. Bond pursuant to City Code Section 2-17? Project? Yes No Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481 includes a principal engaged in lobbying? Yes If so, specify the name of lobbyist(s) and principal(s): Neisen Kasdin Department Planning Sponsor(s) City Manager Co-sponsortsi, Condensed Title 9 25 a.m. 2nd Rdg PH, Ocean Terrace Development Agreement - Amendment. (CM) PL Previous Action (For City Clerk Use Only), First Reading Public Hearing on 4/23/2025 — R7 A 1810 of 2719 This instrument was prepared by(record and return to)'. Akerman LLP 98 SE 7th Street So.e 1100 Miami, Florida 33131 Attn KratoferU Machado, Esq (Space reserved for Clerk) FIRST AMENDMENT TO DEVELOPMENT AGREEMENT THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT the 'Amendment) Is made and entered into as of the day of 2025(the-Effective Date'L by and among the CITY OF MIAMI BEACH.a Florida municipal corporation(the`City').and,jointly and severally. OCEAN TERRACE TRUSTEE LLC, a Delaware limited liability company. OCEAN TERRACE RESIDENTIAL LLC. a Delaware limited liability company. OCEAN TERRACE SHARED FACILITIES LLC. a Delaware limited liability company. OCEAN TERRACE RETAIL LLC.a Delaware limited liability company,and 7450 OCEAN TERRACE LLC.a Delaware limited liabdily company;collectively.Project Developer).and OTH STREETSCAPE, LLC.a Delaware limited liability company ()Park Developer and. together with the Prolect Developer. the 'Developer'). City and Developer are each a Party' and collectively are the 'Parties to this Amendment. Introduction A The C ty and Dee/Ripper are the parties to that certain Development Agreement dated as of July 31 2019, originally entered into by and among the City and 7450 OCEAN TERRACE LLC, 7436 OCEAN TERRACE LLC. 7420 OCEAN TERRACE INVESTMENT, LLC. 7410 OCEAN TERRACE LLC, 7400 OCEAN TERRACE. LLC. 7409 COI LINS AVE INVESTMENT. LLC. 7421 COLLINS AVE INVESTMENT. LLC. 7433 COLLINS AVE INVESTMENT LLC. /439 COLJNS AVE INVESTMENT LLC. 7441 COLLINS AVE INVESTMENT, LLC (collectively,the Initial Developer Parties"),recorded at Book 31563, Page 1201, of the Official Records of Miami Dade County. Florida the 'Original Development Agreement) as affected by that certain Letter Agreement dated December 10. 2019 by and between the City and the Initial Developer Parties that certain Closing Cern'cate dated as of December 10.2019.by and among the Initial Developer Parties,the City.and Prst American Title Insurance Company recorded al Book 31720.Page 4947 of the Official Records of Miami Dade County. Florida. That certain Settlement Agreement dated May 3.2021 by and among the Initial Developer Parties and Ocean Terrace Holdings. LLC. the City and Thomas R Mooney. in his o cial capacity as Planning Director for the City.that certain Partial Assignment and Assumption of Development Agreement dated November 6.2024.by and among the Initial Developer Pates and Park Developer notice of which was celivered to the City on November 8.2024:that certain Estoppel Certificate issued by the City on November 14.2024.and that certain Partial Assignment and Assumption of Development Agreement dated March 10. 2025 by and among the Initial Developer Parties and Project Developer notice of which was delivered to the Cry on March 11. 2025 1811 of 2719 B Developer is in process of developing the Project and the Park:Slreetscape Improvements. which together will help revitalize and improve the character and appearance of the surrounding neighborhood will have a significant positive fiscal impact for the City, and rWl provide a significant public amenity and increase recreational open space in the City C. The Original Development Agreement specifies that the Project must nclude at least 75 hotel units In response to market conditions that currently favor residential uses over hotel rises. the City and Developer desire to amend the Original Development Agreement to eliminate the requirement that the Project include a minimum number of hotel units. D. Having fully considered this Amendment at two duly noticed public hearings in compliance with Section 163 3225 of the Act. and having determined that it is in the City s best interest to enter into this Amendment in compliance with the Apt and with all other applicable I aws and Requirements.the City has agreed to enter into this Amendment with the Developer. NOW. THEREFORE in consideration of the foregoing and other good and valuable considerat on,the receipt and sufficiency of which are hereby acknowledged.the Panes hereby agree as follows. Terms and Conditions t Recitations The foregoing recitations are true and correct and are incorporated herein by this reference 2 Authority.This Agreement is entered into pursuant to the authority and procedures provided by the Art and the City's t and Development Regulations 3 Definitions. All capitalized terms used but not defined in this Amendment shall have the definit oils set forth in the Original Development Agreement. The term-Agreement'as used in the Original Development Agreement and this Amendment shall mean the Original Development Agreement as modified by this Amendment. 4 Amendment The definition of Protect"in Section 3 43 of the Original Development Agreement is hereby amended and restated in its entirety as follows f' v ffirr IP indicates deletions). '3.43 -Protect shall mean the development. design and constructon of the Devebpment Site{including atter the Closing,the Developers right. title. and interest in and to the City Parcel)consistent with the City s Land Development Regulations for the Ocean Terrace Overlay District and the underlying CD-2 and MXE zoning districts, as the same may be amended from time to time. but subject to Section 28 of this Agreement, and provided that the Project t ok d -et le.4 iti.tetel et.. me may only include one lower in excess of 125 feet` 5 Short-Term Rental Covenant. The Project Developer anticipates that the Project will contain seventy-six(76) units, including fifty-two (52)residential units in the tower building that is legally described in Exhibit "1" attached hereto (the "Tower Building). and twenty-four (24I condo hotel units in a mid-rise building.in addition to other uses. In consideration of the City's approval and execution of this First Amendment Ocean Terrace Trustee LLC. as the fee-s mple owner of the Tower Building. shall execute and record a Declaration of Restrictive Covenants. 2 1812 of 2719 substantially in the form of Exhibit "2' attached hereto. against title to the Tower Building. providing that none of the residential units within the Tower Building shall be leased or rented for a period of less than six(61 months and ore(II day. 6. Consistency with the Act The Parties hereby incorporate by reference each and every applicable requirement set forth in the Act.In accordance with the Act and the City s Land Development Regulations.the City hereby reaffirms and ratifies the findings made in the Original Development Agreement pursuant to the Act.and hereby finds and declares that. (a)the Project and the ParkStreetscape Improvements will continue to benefit the City and the public, I b)the conditions.terms restrictions and requirements of this Amendment are sary for the public health. safety or welfare of its citizens. (o)the development permitted or proposec pursuant to this Amendment is consistent with the City s Comprehensive Plan and Land Development Regulations (subject to all applicable requirements permits and approvals). and tdl this Amendment meets all of the requirements of the Act and all other applicable Laws and Requirements. Further the failure of this Amendment to address a particular permit, condition. term or restriction shall not relieve the Developer of the necessity of complying with the law governing said permitting requirements.conditions,term or restriction. ] Severability. In the event any term or provision of this Amendment be determined by appropriate judicial authority to be illegal or otherwise invalid,such provision shall be given its nearest legal meaning or construed as deleted,as such authority determines and the remainder of this Amendment shall be construed to be in full force and effect 8. Reservation of Rights This Amendment is intended to grant Developer additional flexibility in developing the Project and is not intended to and does not reduce or otherwise adverse y affect any of Developer's rights. whether existing by contract, at law. in equity. by statute. pursuant to any Permits and Approvals, or otherwise. Developer hereby expressly reserves any and all of such rights. 9 Further Assurances. The parties shall execute and deliver all other appropriate supplemental agreements and other instruments,and take any other action necessary to make this Amendment fully and legally effective binding- and enforceable as between them and as against third parties. 10. R tificatan Recording Binding Effect The Original Development Agreement.as modified by this Amendment. is hereby ratified and confirmed.and remains valid.binding. and in full force and effect. Within fourteen (14i days following approval at two public hearings and execution by the Parties the City shall record this Amendment in the Public Records of Miami- Dade County. Florida_The terms and conditions of this Amendment are covenants running with the Development Site,and this Amendment shall be binding upon and enforceable by and against the parties hereto and their personal representatives,heirs,successors,grantees and ass gns 11. Conflict. In the event of as inconsistency or concoct between the terms of this Amendment and the Original Development Agreement or any other document or instrument the terms of this Amendment shall control. (Sgnalures Fellow) t 1813 of 2719 EXECUTED as of the date first above written in several counterparts. each of which span be deemed an original, but all constituting only one agreement. Signed, sealed and delivered CITY OF MIAMI BEACH, in the presence of. a Florida municipal corporation By Print Name. By Steven Meiner Mayor Address. Attest By. Rafael E.Granada. City Clerk Print Name. Address STATE OF FLORIDA )SS COUNTY OF MIAMI-DADE The foregoing'instrument was acknowledged before me.by means of=physical presence or C online notanzation. this day of 2025, by Steven Meiner. as Mayor of the City of Miami Beach a municipal corporation. on behalf of the Corporation He is personally known to me or has produced as identification and who did(did not) lase an oath. NOTARY PUBLIC Typed or Printed Name of Notary My Commission expires- Serial No. if any APPROVED AS TO FORM AND LANGUAGE AND FOR EXECUTION City Attorney Date 1814 of 2719 Signed. sealed and delivered OCEAN TERRACE TRUSTEE LLC, in the presence of a Delaware limited liability company By _._ By Print Name. Name Address. Title By: Print Name. Address STATE OF FI ORIDA )SS COUNTY Or MIAMI-DADE The foregoing instrument was acknowledged before me by means of_physical presence ur"'online notarization,des_ _day of 2025 by _ as of OCEAN TERRACE TRUSTEE LLC, a Delaware limited liability comnany, on behalf of the company. He is personally known to me or has produced as idenlifcaton and who dldldid not take an oath NOTARY PUBLIC Typed or printed Name of Notary My Commission expires Serial No..if any 1815 of 2719 Signed. sealed and delivered OCEAN TERRACE RESIDENTIAL LLC, m the presence of a Delaware limited liability company By By Print Name _ Name Address Title By Print Name Address S TATE OF FLORIDA 1 1SS COUNTY OF MIAMI-DADE The foregoing instrument was acknowledged before me by means of C physical presence or EC online notarization this day of 2025 by as of OCEAN TERRACE RESIDENTIAL LLC. a Delaware limited liability company, on behalf of the company He Is personally known to me or has produced as identification and who didldid not take an oath. NOTARY PUBLIC Typed or printed Name of Notary My Commission expires. Serial No if any 1816 of 2719 Signed,sealed and delivered OCEAN TERRACE SHARED FACILITIES in the presence of LLC,a Delaware limited liability company By By - Print Name- Name. _ Address: Title - By. Print Name. _ Address. . STATE OF FLORIDA SS- COUNTY OF MIAMI-DADE The foregoing instrument was acknowledged before me.by means of-physical presence or I online notarization.this day of 2025 by as of OCEAN TERRACE SHARED FACILITIES LLC a Delaware limited liability company, on behalf of the company. He is personally known to me or has produced as identification and who did/did not lake an oath NOTARY PUBLIC Typed or printed Name of Notary My Commission expires. Serial No if any _ 1817 of 2719 Signed sealed and delrrered OCEAN TERRACE RETAIL LLC, in the presence of- a Delaware limited liability company By By Print Name: Name. Address Title By: Print Name. _ Address STATE OF FLORIDA )SS COUNTY OF MIAMI-DADE I The foregoing instrument was acknowledged before me by means of 52 physical presence or❑online notarization,this_ day of 2025 by of OCEAN TERRACE RETAIL LLC.a Delaware limited liability company. on behalf of the company. He is personally known to me or has produced as identification and who didldid not take an oath. NOTARY PUBLIC Typed or printed Name of Notary My Commission expires. Sena]No..if any 1818 of 2719 Signed,sealed and delivered 7450 OCEAN TERRACE LLC. m tie presence of a Delaware limited liability company By. _ By Print Name Name. Address' Title By - PimtName Address S TATE OF FLORIDA 1SS COUNTY OF MIAMI-DADE The foregoing instrument was acknowledged before me.by means of=physical presence or" I online notarization this day of . 2025 by _ as of 7450 OCEAN TERRACE LLC.a Delaware limited liability company on behalf of the company He is personally known to me Or has produced as identification and who did%did not take an oath. NOTARY PUBLIC Typed or printed Name of Notary My Commission expires Serial No_if any 1819 of 2719 Signed.sealed and delivered OTH STREETSCAPE.LLC, rn the presence of a Delaware limited liability company BY By Print Name. Name. Address- Title By: Print Name._ Address S TAT F OF FI ORIDA SS: COUNTY OF MIAMI-DADE The foregoing instrument was acknowledged before me.by means of=physical presence or❑online notarization the day of .2025 by as of OTH STREETSCAPE, LLC. a Delaware landed liability company. on behalf of the company He rs personally known to me or has produced as rdenUecalion and who did/did not take an oath. NOTARY PUBLIC Typed or printed Name of Notary My Commission expires Serial No.,if any 1820 of 2719 EXHIBIT"1" Tower Bidding Legal Description [Attached[ 1821 of 2719 EXHIBIT"2 Declaration of Restrictive Covenants [Attached' 1822 of 2719 This instrument prepared by.and after recording return to'. Ricardo J. Depico City Attorney City of Miami Beach, Flonda 1700 Convention Center Drive Miami Beach. Florida 33139 (Space reserved for Clerk of Court) DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION OF RESTRICTIVE COVENANTS ("Declaration"), is made by OCEAN TERRACE TRUSTEE LLC,a Delaware limited liability company,together with its successors and assigns (collectively, "Owner"), in favor of the CITY OF MIAMI BEACH, FLORIDA, a municipality of the State of Florida ("City'). This Declaration has been accepted by the City as part of the City's issuance of development orders and development permits for Owner's proposed development of the Ocean Terrace project (as more particularly defined in the Development Agreement, as amended, the"Project")at 7409 Collins Avenue (02-3202-003-0120), 7421 Collins Avenue (02-3202-003-0110), 7433 Collins Avenue (02-3202-003-01001. 7435, 7437. and 7439 Collins Avenue (02-3202-003-0090). 7441. 7443, and 7445 Collins Avenue (02-3202-003-0080), 7449 and 7451 Collins Avenue (02-3202-003-0070). 7400 Ocean Terrace (02-3202-003-0060), 7410 Ocean Terrace (02-3202-003-0050), 7420 Ocean Terrace (02-3202-003-0040), 7430 Ocean Terrace (02-3202-003-0030), 7436 Ocean Terrace (02-3202-003-0020), 7450 Ocean Terrace (02-3202-003-0010), and the vacated rights-of-way of Ocean Terrace, 74th Street, and 75th Street (02-3202-003-0135). WITNESSETH : WHEREAS. the City, Owner, Ocean Terrace Residential LLC, Ocean Terrace Shared Facilities LLC. Ocean Terrace Retail LLC, 7450 Ocean Terrace LLC, and OTH Streetscape. LLC (collectively, the "Developer) are the current parties to that certain Development Agreement, dated as of July 31, 2019, originally entered into by and among the City and 7450 Ocean Terrace vnr>n,r.. s 1823 of 2719 LLC, 7436 Ocean Terrace LLC, 7420 Ocean Terrace Investment, LLC, 7410 Ocean Terrace LLC, 7400 Ocean Terrace, LLC, 7409 Collins Ave Investment. LLC. 7421 Collins Ave Investment, LLC, 7433 Collins Ave Investment, LLC, 7439 Collins Ave Investment LLC, and 7441 Collins Ave Investment, LLC (collectively, the "Initial Developer Parties"), recorded at Book 31563, Page 1201. of the Official Records of Miami Dade County. Florida, as affected by that certain Letter Agreement dated December 10, 2019, by and between the City and the Initial Developer Parties; that certain Closing Certificate dated as of December 10, 2019, by and among the Initial Developer Parties, the City, and First American Title Insurance Company, recorded at Book 31720, Page 4947, of the Official Records of Miami Dade County, Florida; that certain Settlement Agreement dated May 3, 2021, by and among the Initial Developer Parties and Ocean Terrace Holdings, LLC, the City, and Thomas R. Mooney, in his official capacity as Planning Director for the City; that certain Partial Assignment and Assumption of Development Agreement dated November 6, 2024. by and among the Initial Developer Parties and Park Developer, notice of which was delivered to the City on November 8, 2024; that certain Estoppel Certificate issued by the City on November 14. 2024, and that certain Partial Assignment and Assumption of Development Agreement dated March 10, 2025, by and among the Initial Developer Parties and Project Developer, notice of which was delivered to the City on March 11, 2025 (collectively, the "Development Agreement"); and WHEREAS, capitalized terms used but not defined in this Amendment shall have the definitions set forth in the Development Agreement; and WHEREAS, the Development Agreement specifies that the Project must include at least seventy-five (75) hotel units; and WHEREAS, the Developer anticipates that the Project will contain seventy-six (76) residential units, including fifty-two (52) residential units within that certain tower building legally described in Exhibit "A" attached hereto and made a part hereof (the 'Tower Building"), and twenty-four (24) condo hotel units in a mid-rise building, in addition to other uses; and 2 1824 of 2719 WHEREAS. the City and Developer have entered into that certain First Amendment to Development Agreement, dated , 2025, recorded at Book , Page , of the Official Records of Miami Dade County, Florida(the"First Amendment"), which amends the Development Agreement by eliminating the requirement that the Project include a minimum number of hotel units, and WHEREAS, the rental of residential units within the Project on a short-term basis (i.e. for a period of less than six (6) months and one (1) day) is permitted under the City's Land Development Regulations, and WHEREAS, in consideration of the City's approval of the First Amendment, Owner, as the holder of fee-simple title to the Tower Building, hereby desires to make a binding covenant to the City that none of the residential units within the Tower Building shall be leased or rented for a period of less than six (6) months and one (1) day. said covenant to run with the land and be binding on all persons claiming ownership of all, or any portion of the Tower Building, including, without limitation, all owners of individual condominium units within the Tower Building and their successors, NOW, THEREFORE. Owner voluntarily covenants and agrees that the Tower Building shall be subject to the following restrictions that are intended and shall be deemed to be covenants running with the land, binding upon Owner and all successors in interest to the Tower Building, including purchasers of individual condominium units within the Tower Building and their successors, as follows: 1. The recitals and findings set forth in the preamble of this Declaration are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. 2. Commencing on the date this Declaration is recorded in the Official Records of Miami Dade County, Florida, and continuing for a period of thirty(30) years thereafter, after which time the Declaration shall be extended automatically for successive periods often (10)years each unless released, none of the residential units within the Tower Building shall be leased or rented 3 1825 of 2719 for a period of less than six (6) months and one (1) day. It is the intention of the Owner that the restrictions contained in this Declaration shall run with the land and with the title to all, or any portion of, the Tower Building, including, without limitation, all owners of individual condominium units within the Tower Building and their successors. This Declaration shall not be released without the prior written consent of the Mayor and City Commission of the City of Miami Beach, Florida. 3. Except for Owner's obligation to replace the legal description for the Tower Building with the as-built legal description, if necessary, as described in Section 9 below, this Declaration may be modified, amended, or released as to any portion of the Tower Building only with the approval of the then-Owner of the Tower Building and the Mayor and City Commission of the City of Miami Beach, or such other board with jurisdiction over the matter, at a public hearing, which public hearing shall be applied for by and at the expense of Owner. Should this instrument be so modified, amended, or released. the Planning Director, or other administrative officer with jurisdiction over the matter, shall execute a written instrument in recordable form effectuating and acknowledging such modification. amendment or release. 4. Invalidation of any provision of this Declaration by judgment of court shall not affect any of the other provisions of this Declaration, which shall remain in full force and effect. If the First Amendment is stayed, enjoyed. or invalidated by any court or other lawful authority, or the City adopts or imposes, following the date of recording of this Declaration, any requirement that the Development Site include a minimum number of hotel units (and the Owner or Developer, as applicable, complies with such requirement), then the restrictive covenant in Section 2 above shall automatically cease to be effective for the period of such stay, injunction, invalidation, or requirement. 5. This Declaration shall be recorded in the Public Records of Miami-Dade County, Florida, at the cost of Owner. 4 1826 of 2719 6. It is understood and agreed that any official of the City of Miami Beach has the right at any time during normal business hours, with reasonable prior written notice to Owner, of entering and investigating the use of the Tower Building, to determine whether the conditions of this Declaration and the requirements of the City's building, zoning, and land development regulations are being complied with. 7. An action to enforce the terms and conditions of this Declaration may be brought by the City and may be, at law or in equity, against any party or person violating or attempting to violate any provision of this Declaration or provisions of the building, zoning, or land development regulations, either to restrain violations or to recover damages. The prevailing party in the action shall be entitled to recover costs and reasonable attorneys' fees, at all levels of trial and appeal, This enforcement provision shall be in addition to any other remedies available under the law. 8. Upon Owner's conveyance or transfer of its interest in the Tower Building or any portion thereof, the transferor shall cease to be the Owner for purposes of this Declaration. and the transferee shall automatically become Owner as to the portion conveyed or transferred. Further, the City, by approving this Declaration, acknowledges and agrees that the Tower Building is intended to be submitted to a condominium form of ownership and, accordingly, any consent or approval to be given or withheld by the "Owner" with respect to this Declaration (including but not limited to any consent or approval needed to modify, amend, or release this Declaration)shall be granted or withheld by the Tower Building developer or the condominium association for the Tower Building, as applicable, pursuant to the terms and conditions of the applicable declaration of condominium for the Tower Building and applicable law, it being understood and agreed that individual unit owners within the Tower Building shall be bound by this Declaration but shall not have individual consent or approval rights with respect to this Declaration. 9. Notwithstanding anything to the contrary contained herein, the parties acknowledge and agree that Exhibit -A" is a preliminary legal description for the proposed Tower 5 1827 of 2719 Building and that following the substantial completion of the Tower Building, Owner shall record an amendment to this Declaration in a form to be approved by the City to replace Exhibit "A'with the correct legal description for Exhibit "A" based on the as-built construction if the legal description of the as-built construction differs from the legal description in Exhibit "A" attached hereto. [Signatures follow] 6 1828 of 2719 IN WITNESS WHEREOF, Owner executes this Declaration this day of , 2025. Witnesses: OCEAN TERRACE TRUSTEE LLC, a Delaware limited liability company Name: By: Address: Name: Title: Name: Address: STATE OF FLORIDA ) SS: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me by means of❑ physical presence or C online notarization, this day of , 2025, by , in his capacity as of OCEAN TERRACE TRUSTEE LLC. a Delaware limited liability company, who is personally known to me or who has produced as identification. My commission expires: NOTARY PUBLIC — State of Florida Print Name 1829 of 2719 APPROVED APPROVED AS TO FORM 8 LANGUAGE 8 FOR EXECUTION Planning Director Date City Attorney Date 1830 of 2719 EXHIBIT "A" Tower Building Legal Description [Attached] 1831 of 2719 TOWER BUILDING LEGAL DESCRIPTION BASEMENT LEVEL A portion of Lots 3,4,5,6, 11 and 12. Block 1,TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County,Florida,being more part afarly described as follows Commence at the Northwest corner of said Block 1,thence S 02'S8'50' E along the West line of said Block 1,also being the East right of way line of Coir,ns Avenue for 152.52 feet.thence N gT-Or 10"E for 135.00 feet to the Point of Beginning;thence S 02'S8 SO"E fur /8.17 feet.thence N 87'01'10"E for 41.17 feet,thence 5 02'58'50" E for 31.92 feet,thence N 87°01'10"E for 26.67 feet; thence N 02`58'50"W for 65.6/Met,thence S 87'01'10"W for 10.92 feet;thence N 02'58'50"W for 11.67 feet;thence N 87°01'10"E for 2.08 feet,thence N 02'58'50"W for 45.08 feet, thence 5 82°01'10'W far 20.58 feet;thence N 02'58'50"W for 8.83 feet;thence S 87.01'10"W(or 16.42 feet;thence S 02'58'50"E for 21.17 feet;thence 5 87'01'10"W for 22.DO feet to the Point of Beginning. The above described perimetrical boundary being between elevation-2.0 to a10.0 feet,relative to the National Geodetic Vertical Datum of 1929. GROUND LEVEL A portion of Lot 7,Block 1. TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County, Florida.being more part'culariy described as follows_ Commence at the Southeast corner of said Block I,thence N 02'58'50"W along the East the of said Block 1,also being the West right of way lire of Ocean Terrace for 13.0R feet.thence 87'Ol'10"W for 5.50 feet to the Point of Beginning,thence continue S 87'01'10"W for 13.00 feet. thence 502'58'50"E for 8.17 feet,thence N 87'01'10'E for 13.00 feet;thence N 02'58'SO'W for 8.17 feet to the Point of Beginning. AND A portion of Lots 4,5 and 6.Block 1,TOWNSI IL Of HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County,Florida,being more particularly described as follows. Commence at the Southeast corner of said Block 1;thence N 02°58'50'W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 155.06 feet;thence 5 87'01'10'W for 61.25 feet to the Point of Beginning,thence S 02°58'S0"E for 21 81 feet,thence 8T01'10"W for 11.42 feet;thence S 02'58'49"E for 1642 feet,thence N 87'01'10"E for 11 42 feet, thence 5 02'58'50' E for 26.33 feet;thence S 87°01'10"W for 30.58 feet,thence S 02°S8'52"E for 5 25 feet,thence 5 87'01'08"W for 1225 feet;thence N 02'58'50'W for 10.75 feet;thence S 87'01'10"W for b 42 feet;thence 5 02'58'43'E for 10 94 feet;thence s 87"01'10"W for 11.50 feet, thence N 02'58'50'W for 34.25 feet;thence N 87'01'10"E for 10.83 feet;thence N 02'58'50"W for 11 42 feet,thence 587°Ol'lo"W for 10.83 feet,thence N 02'58 50"W for 24.33 feet,thence N 87'Ol'10"E for 60 75 feet to the Point of Beginning. 1832 of 2719 The above descr bed perimetrical boundary being between elevation +10 0 to 421.3 feet,relative to the National Geodetic Vertical Datum of 1929. 2'd'LEVEL A portion of Lot 7,Black 1,TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4 of the Public Records of Miami Dade County,Flor da,being more particularly dc'c ,bed as follows. Commence at the Southeast corner of said Block 1,thence N 02°58'50"W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 13.08 feet,thence S 87°0110"W for 5.50 feet to the Point of Beginning;thence continue S 8[01'10"W for 13.00 feet, thence 5 02'58'50"E for 8.17 feet;thence N 87'Ol'10"E for 13.00 feet;thence N 02'58'50"W for 8.17 feet to the Point of Beginning. AND A portion of Lots 4,5 and 6,Block 1,TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County,Florida,being more Particularly described as follows Common(P ar the Southeast corner of said Block 1;thence N 02°58'50'W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 155.06 feet;thence S 87'01'10"W for 12.50 feet to the Point of Beginning:thence S 02"58'S0' E for 64 75 feet:thence 5 87'01'10"W for 19.33 feet,thence S 02'58'S0"E for 19.75 feet thence S 87'01'10'W for 19 33 feet,thence N 02°58'56"W Mr 14.46 feet: thence S 87'01'10' W for 10.85 feet.thence N 01'58'50"W for 34.27 feet.thence N 87'O110"E for 10.85 feet,thence N 02'58'S0"W for 1142 feet.thence S 87"O 1'10"W for 10.83 feet.thence N 03'0147"W for 24 33 feet,thence N 86'5993"F for 49.5?feet to the Point of Beginning. The above descr bed perimetrical boundary being between elevation+21 3 to+34.5 feet,relative to the National Geodetic Vertical Datum of 1929. 3°O LEVEL A portion of lots 4,5,6 and 7 Block 1,TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4.of the Public Records of Miam.-Dade County,Florida,being more Part;cul arty described as follows Commence at the Southeast corner of said Block 1,thence N 02'58'50"W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 45.12 feet,thence 5 87'01'10"W for 20.17 feet to the Point of Beginning,thence S 02°58'50'E for 25.21 feet,thence S 87'Ol'10"W for 0.67 fees.thence S 02°58'50"E for 6.83 feet,thence N 87°01'10"E'or 15.17 feet, thence 5 02°58'50"E for 8 1/feet,thence 5 87'01'10"W for 12.83 feet:thence N 02'5850"W for 418 feet,thence S 87'01'10 W for 83.82 feet,thence N 02'58'50"W for 10.82 feet,thence S 87601'10"W for 2 84 feet,thence N 81'43'50"W`or 241 feet,thence N 59°13'50'W for 2.41 feet, thence N 36'43'50"W for 2.41 feet;thence N 14'13'50"W for 2.41 feet,thence N 02'58'50"W for S8.98 feet,thence S87'01'10'W for 10.67 feet,thence N 02'58'50"W for 34.25 feet,thence 1833 of 2719 N 87"01'10"E for 10.83 feet;thence N 02°58'S0"W far 11.42 feet:thence 5 87'01'10"W for 10.83 feet; thence N 024458'S0"W for 24.33 feet;thence N 87°01'10"E for 49.50 feet:thence S 02'S8'50'E for 54.75 feet;thence S 87°01'14"W for 19 22 feet;thence S 02°58 50"F for 15.57 feet thence S 10°18437'E for 6.68 feet;thence 5 25°19'49°E for 6.68 feet;thence S 40°21'01" E for 6 68 feet,thence 55°22'13° E for 6 68 feet,thence S 70°23'25"E for 6.68 feet;thence S 85'24437" E for 6 68 feet.thence N 89°05'19"E for 3.10 feet;thence S 82'40'22"E for 3.10 feet;thence S 7425'04"E for 3.10 feet:thence 5 60°53'52"E for 1 63 feet,thence 5 62°23'39"E for 1.82 feet;thence 75'11424"E for 1.82 feet;thence N 87°Ol'10"E for 32 28 feet to the Paint of Beginning. The above descr-bed perimetrical boundary being between elevation•34.5 to•41.2 feet,relative to the National Geodetic Vertical Datum of 1929. 4'LEVFL A portion of Lots 4,5 and 6,Block 1,TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County,Florida,being more particularly described as follows- Commence at the Southeast corner of said Block I;thence N 02'S8'50"W along the East line of said Black 1,also being the West right of way line of Ocean Terrace for 155 06 feet,thence S 87°01'10"W for 72.50 feet to the Paint of Beginning;thence S 02'S84S0"E for 64.75 feet;thence 5 87'01'10"W far 19.33 feet;thence S 02°58'50"E for 5.29 feet;thence S 87°01'I D"W for 30.19 feet. thence N 02'58'50"W for 34.29 feet;thence N 87°O1'10"E for 10.85 feet,thence N 02'58'S0"W for 11.37 feet,thence S 87°01'10"W for 10.85 feet,thence N 02°58'50"W for 24.35 feet.thence N 86'59'63"F for 49.52 feet to the Point of Beginning. The above described perimetrical boundary being between elevation-41.2 to+49.3 feet, relative to the National Geodetic Vertical Datum of 1929. 5"'LEVEL A portion of Lots 3,4, 5,6,7 and 12,Block 1,TOW NSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County, Florida,being more particularly described as follows. Commence at the Southeast corner of said Block 1,thence N 02658S0"W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 90.24 feet;thence 5 87°01'10"W for 1I.37 feet to the Point of Beginning;thence S 00'35'03"E for 14.55 feet,thence S 02°03'36"E for 14.55 feet;thence S 03°32'09'E for 14.55 feet;thence S 05°00'42"E for 14.55 feet; thence 5 01°08'02"W for 4 68 feet,thence 516'15'18"W for 4.68 feet;thence S 31°22'34°W for 4 68 feet;thence S 46'29'S0"W for 4 68 feet;therce S 61°37'064'W for 4.68 feet;thence 5 76°44'22"W for 4.68 feet;thence S 87'42'44"W for 3.06 feet,thence N 89°31'53"W for 3.06 feet; thence N 86°52'20"W far 5.32 feet;thence N 87'27'S1"W for 6 70 feet;thence S 88°58'53"W for 6 70 feet,thence S 85'25'38"W for 6.70 feet;thence S 83°40'03"W for 7.72 feet;thence 5 84°03'25"W far 7.72 feet,thence S 84°26'46"W for 7,72 feet;thence S 85'17'41"W for 5 41 feet; thence S 8626'31"W for 541 feet;thence 5 87°35'21"W for 5 41 feet;thence 5 88'04'364'W for 4 42 feet;thence N 88'57'14"W for 4.42 feet;thence N 79°31'47"W far 3.46 feet;thence N 63°58'12"W for 3.06 feet;thence N 48°24'36"W for 3.46 feet;thence N 26°25'57"W for 3.41 feet; thence N 12'11'36"W for 3.41 feet;thence N 02'02'44"E for 3 41 feet.thence N 04°54407"E for 3.13 feet,thence N 00°26'12"E for 3 13 feet,thence N 04°01'44"W for 3.13 feet;thence N 18°04'05"W for 3.54 feet.thence N 26°06'21"W for 3.54 feet,thence N 34'08'36'W for 3.54 feet;thence 1834 of 2719 N 42°10'52"W for 3.54 feet;thence N 43'07'47'W for 13.36 feet;thence N 45°2128"W for 3 01 feet; thence N 57°02'42"W for 301 feet;thence N 68'43 55"W for 3.01 feet;thence N 66'45'10"W for 2.45 feet,thence N 52°06'09"W for 2 45 feet,thence N 3)"27'07"W for 2 45 feet,thence N 22'48'06'W for 2.45 feet;thence N 08°09'05"W for 245 feet;thence N 06°29'57"E for 2 45 feet; thence N 11°56'00"E for 3 00 feet,thence N 14°03'49"E for 3 00 feet;thence N 16'08'29"E for 5.93 feet;thence N 11°50'02"E for 2 95 feet;thence N 01°52'52"E for 2.95 feet;thence N 08'134'18"W for 2.95 feet,thence N 18'01'29"W for 2.95 feet;thence N 27'58'39"W for 2.95 feet,thence N 37'55'49"W for 2 95 feet;thence N 53'06'52"W for 2,33 feet;thence N 62'58'17"W for 2.33 feet, thence N 72"49'41"W for 2.33 feet,thence N 82'41 06"W for 2 33 feet,thence N ST1TOS"W for 2 33 feet,thence 5 82°56 31"W for 2.33 feet,thence 73°05'06"W for 2.45 feet,thence N 02'58'50"W for 3186 feet;thence S 75°58'59"E for 3 60 feet, thence N 86'2613"E for 3 58 feet;thence N 76'57'20"E for 3 58 feet:thence N 59'22'33"E for 3 58 feel thence N 41°47'45"E for 3.58 feet;thence N 24'12'S8"E for 3.58 feet;thence N 06538'11"E for 3 58 feet;thence N 10'56'36°W for 3.58 feet;thence N 2222'46"W far 5.06 feet;thence N 20'20'59"W for 2.05 feet;thence N 11'13'48'4 W for 2 05 feet,thence N 02°06'36"W for 2 05 feet; thence N 0T00'35"E for 2 05 feet;thence N 16°07'47"E for 2.05 feet;thence N 25'14'59'E for 2.05 feet;thence N 34°28'06"E for 7.95 feet,thence N 3T45'51"E for 7.65 feet;thence N 3610'10"E for 12.76 feet;thence N 46'36'53"E for 4.65 feet;thence N 61°34'56"E far 4.65 feet;thence N 89°31'24"E for 4.06 feet;thence S 82°18'52"E for 4.06 feet;thence S 89°26'29"E for 5 11 feet,thence N 80°28'11"E for 5.11 feet;thence N 73°03'33'E for 10.31 feet,thence N 78'11'33"E for 2 04 feet; thence N 87°06'29"E for 8.60 feet,thence S 84'12'06"E for 8.60 feet;thence 5 75°30'40"E for 8.60 feet,thence S 74'23'24"E for7 82 feet;thence S 81°12'51'4 E for 7.82 feet,thence N 86°10'42"E for 6.97 feet;thence N 76°33'20'E for 6 97 feet,thence N 77°17'26"E for 1.70 feet: thence N 88°23'Ol"E for 1.70 feet;thence 5 79'12'39"E for 2.33 feet,thence S 65°79'33" E for).33 feet; thence 5 51'46'26"E for 2 33 feet,thence S 38'03 20'E(or 2.33 feet,thence 24°20'13' E cur 2.33 feet thence 512"9'17"E for D.91 feet,thence 503°54'30"E for 0.91 feet.thence 5 02'22'53"W fo-2 06 feet,thence S 05'54'51"W for 2.06 feet,thence S 04°03'34"W for 4 58 feet, thence 5 01'19'30" E for 4 58 feet;thence 5 06'42'33" E for 4.58 feet,theme 12'05'37"E fora 58 feet,thence 5114'53'53"E tan 18 feet,thence S 08°44 48" E for 4 18 feet thence 505'35'43"F for 4 18 feet,thence S 06"18'32"W for 3 68 feet;thence S 24'57'21"W for 3 68 feet; thence S 43'36'10'W for 3 68 feet:thence S 62'15'00'W for 3.68 feet,thence S 80'53'49"W for 3.68 feet;thence S 69'39'45' W for 1.21 feet,thence S 53"57'274'W for 1 21 feet,thence S 31°16'32"W for 1 11 feet,thence S 17'03'55"W for 1.11 feet,thence 5 02°51'18"W for 1 11 feet, thence S 07°02'43" E for 1 77 feet;thence S 12'22'30"E for 1.72 feet;thence S 17°42'18" E for 1 72 feet, thence S 1T41'59'E for 1.81 feet;thence S 12°29'25"E for 1.81 feet;thence S 07°16'51" E for 1.81 feet; thence S 04"53'17"W for 246 feet,thence 513°57'22"W for 2.46 feet,thence 5 15°D1'16"W for 2.10 feet;thence S 07'56'06"W for 2.10 feet,thence S 08'4)'19"F for 3.0)feet, thence S 27'50'19"E for 3.07 feet,thence 5 4653'18"E for 3 07 feet,thence 5 66°30'52" E for 3 33 feet, thence S 86'47'39'E for 3 33 feet;thence N 88°46'14' E for 2.54 feet,thence S 79'49'04"E for 2.54 feet; thence 5 66'50'09"E for 3 96 feet,thence S 52°17'02" E for 3.96 feet,thence 37°43 55"E for 3.96 feet;thence S 23°10'48"E for 3.96 feet,thence S 08'37'41" E for 396 feet to the Point of Beginning. The above described perimetrical boundary being between elevation+49.3 to+65 4 feet.relative to the National Geodetic Vertical Datum of 1929. -111"LEVEL A portion of Lots 3,4.5,6,and 7,Block 1,TOWNSITE OF HANDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4.of the Public Records of Miami-Dade County,Florida.being more particular y described as follows' Commerce at the Southeast corner of said Block 1,thence N 02°58'50"W along the East line of said Block 1.also being the Weat right of way line of Ocean Terrace for 44.00 feet;thence 1835 of 2719 S87"01'10"W for 46.02 feet to the Point of Beginning;thence N 02°58'50"W for 157.18 feet;thence S 87'01'10"W for 101.82 feet.thence S 02'58'30"E for 157.18 feet,thence N 87'01'10"E for 101.82 feet to the Point of Beginning. The above described perimetrical boundary being between elevation '65 4 to r 13,9 feet,relative to the National Geodetic Vertical Datum of 1929. 12 "LEVEL A portion of lots 3,4,5,6,and 7.Block 1,TOWNSITE OF HARDING,according to tne Plat thereof,as recorded in Plat Book 34 at Page 4.of the Public Records of Miami-Dade County,Florida,being more particularly described as follows: Commence at the Southeast corner of said Block 1.thence N 02°S8'SO"W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 44.00 feet;thence 5 87'01'10'W for 46.02 feet to the Point of Beginning;thence N 02658'50"W far 157.18 feet',thence 5 87°01'10"W for 101.82 feet,thence S 02'58'50"E for 157.18 feet,thence N 87°01'10"E for 101.82 feet to the Point of Beginning. The above described perunetrical boundary being between elevation+131 9 to•142.8 feet,relative to the National Geodetic Vertical Datum of 1929. -23'LEVEL A portion of I ors 3,4,5.6,and 2.Black 1,TOWNSITE OF HARDING.according to the Plat thereof as recorded in Plat Book 34 at Page 4,of the Public Records of Miami Dade County,Florida.being more particularly described as follows. Commence at the Southeast corner of said Block 1,thence N 02' 8'50"W along the fact line of said Block 1,also being the West right of way line of Ocean Terrace for 44.00 feet,thence S 87'01'10"W for 46.02 feet to the Point of Beginning;thence N 02658'50"W for 157.18 feet.thence 5 87'01'10"W for 101.82 feet.thence 502'58'50'd E for 157.18 feet;thence N 87°01'10"E for 101.82 feet to the Point of Beginning. The above deserted perimetrical boundary being between elevation+142 8 to-259.2 feet,relative to the National Geodetic Vertical Datum of 1929. ROOF LEVEL A portion of Lots 4,5 and 6,Block 1, TOWNSITE OF HARDING,according to the Plat thereof,as recorded in Plat Book 34 at Page 4,of the Public Records of Miami-Dade County.Florida,being more particularly described as follows. Commence at the Southeast corner of said Block 1;thence N 02°58'50"W along the East line of said Block 1,also being the West right of way line of Ocean Terrace for 86.58 feet;thence 87'01'10"W for 92.67 feet to the Paint of Beginning;thence N 02°58'50"W for 9.11 feet;thence S 87'01'10"W for 5.64 feet,thence N 02'58'50"W for 48.67 feet;thence N 87°01'10" E for 5.64 feet;thence N 02'58'S0"W for 9 17 feet; thence 5 86'07'52'W for 10 75 feet;thence N 02°58'S0"W for 0 67 feet;thence S 87°O1'10'W for 6 08 feet,thence N 02°58'S1"W for 12.50 feet:thence S 87'01'09"W for 19.37 feet,thence 1836 of 2719 5 77'51'01'W fur 3 43 feet;tnence 559'53'16'W for 3 43 feet,thence 5 41°55'31"W for 343 feel; thence 5 23'57'47'W for 343 feet.thence S 06.'00'02"W for 343 feet;thence S 02°58'50"E for 71.25 feet,thence S 11'58'50' E for 3.44 feet.thence S 29°58'50" E for 3 44 feet,thence 47'58 50"E fora 44 feet thence 5 65658'S0"E for 344 feet;thence S 83'58'S0"E for 3 44 feet,tnence N 87'01'10'E for 19.33 feet',thence N 02'58'50"W for 12 75 feet;thence N 87'01'10"E for 6.08 feet, thence N 02°S8'50"W for 0.50 feet;thence N 87°0110"E for 10.75 feet to the Point of Beginning. The above described perimetrical boundary being between elevation+259 7 to+290 0 feet,relative to the National Geodetic Vertical Datum of 1929. 1837 of 2719 CONSENT OF MORTGAGEE AND SUBORDINATION OF MORTGAGE The undersigned. holder of that certain MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS, AND FIXTURE FILING. dated as of February 7, 2025. and recorded in Book 34628, at Page 3562, of the Official Records of Miami-Dade County, Florida (as may be amended from time to time, the "Mortgage"), encumbering the real property to be subjected to the foregoing Declaration of Restrictive Covenants made by OCEAN TERRACE TRUSTEE LLC, a Delaware limited liability company, in favor of the CITY OF MIAMI BEACH, a Florida municipal corporation, hereby consents to said Declaration of Restrictive Covenants and agrees that the lien of said Mortgage shall be subject and subordinate to the terms of said Declaration of Restrictive Covenants. IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of , 2025. JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association charted under the laws of the United States of America By: Name: Title: STATE OF SS: COUNTY OF The foregoing instrument was acknowledged before me by means of C physical presence or D online notarization, this _ day of , 2025, by . in his/her capacity as of JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, who is personally known to me or has produced as identification. My commission expires: NOTARY PUBLIC— State of Florida Print Name 1838 of 2719 415.25.33E PM Legal Ads B Public Notices ovMeepOgS Calendar Tranelde IL9looal/311!noriepagtl Nglopal/weOcastina�finepage) IG9lababnaleflar/glogp_nd( (Ilnys Pwwa midmIdadegPm0PBal a page) Mrrn Home'/globaI/tome page)>News&Sinai Media'(global/nangaUon/news-Mra.0a9G>Pudic Notices Legal Ads and Public Notices Share Public Gaming-Notice Qf Pudic HNdng SaS lntmt To Dencider A vevelgpmM9tAgraarnent(/rcauaceMituk ING2ILUNDIRIBIIas/inland-beMV05-04232025-ib05212D75-06ocwrtmarederapr�tOS,L�f) Miami Beach I Publish Dace:Apr 15,2025 NOTICE IS HEREBY GIVEN that on April 23,2025 at 9.17 a m.or as soon thereafter as the mailer can be heard, the Mayor and City Commission of the City of Miami Beach will fold a First Reading/Public hearing on the following proposed First Amendment to Development Agreement.A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH,APPROVING,FOLLOWING FIRST READING/PUBLIC HEARING,A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT,DATED JULY 31.2019,CURRENTLY AMONG THE CITY OF MIAMI BEACH("CITY),7450 OCEAN TERRACE LLC,OCEAN TERRACE TRUSTEE LLC,OCEAN TERRACE RESIDENTIAL LLC OCEAN TERRACE SHARED FACII(TIES LLC,AND OCEAN TERRACE RFTAII I I C (COLLECTIVELY PROJECT DEVELOPER-).AND 0TH STREETSCAPE,LLC(PARK DEVELOPER-),FOR THE DEVELOPMENT OF THE OCEAN TERRACE PROPERTY,GENERALLY LOCATED AT 7409,7421,7433,7435,7437. 7439,7441,AND 7449 COLLINS AVENUE,AND 7400 7410,7420.7430,7436.AND 7450 OCEAN TERRACE (-DEVELOPMENT SITE).AS AUTHORIZED UNDER SECTION 2.11.1 OF THE MIAMI BEACH RESILIENCY CODE (FORMERLY SECTION 118-4 OF THE CITY CODE).AND SECTIONS 163 3220—163 3243.FLORIDA STATUTES. WHICH FIRST AMENDMENT ELIMINATES THE REQUIREMENT THAT THE PROJECT INCLUDE AT LEAST 75 HOTEL UNITS,AND FURTHER,SETTING THE SECOND AND FINAL READING/PUBLIC HEARING OF THE FIRST AMENDMENT TO DEVELOPMENT AGREEMENT FOR A TIME CERTAIN. Pubic Hearing 1-MUD Beat Biylrunt Dredar Galnct-Can (' Ms/mulicl eh aclt yframm'erlayl. Miami Bead I Publish Dale:Apr 12,2025 NOTICE IS HEREBY GIVEN that on April 23,2025.at 5 01 p m,or as soon thereafter as the matter can be heard, The Mayor and City Commissioners of the City of Miami Beach will hold a First Reading/Public Hearing on the following proposed Ordinance nil Nurina 2-Muth Bead Gunnison'Ovarlay-LDR MSDAM d ifesifet•MItgil a dumunlclpaf lee/miami-baacM12- ga232025-13no(Nbeaclad Wang manuall) Miami Beach I Publish Data:Apr 12,2025 mint www rnamidade.3ov glooal'ravigao0n le0ul-amnoex.page 1842 of 2719 CITY OF MIAMI BEACH NOTICE OF PUBLIC HEARINGS AND INTENT TO CONSIDER A DEVELOPMENT AGREEMENT APRIL 23, 2025 AND MAY 21, 2025 CITY COMMISSION MEETINGS NOTICE IS HEREBY GIVEN that on April 23, 2025 at 9:17 a.m. or as soon thereafter as the matter can be heard, the Mayor and City Commission of the City of Miami Beach will hold a First Reading/Public Hearing on the following proposed First Amendment to Development Agreement: 9:17 a.m. First Reading Public Hearing A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, APPROVING, FOLLOWING FIRST READING/PUBLIC HEARING, A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT, DATED JULY 31, 2019, CURRENTLY AMONG THE CITY OF MIAMI BEACH ("CITY"),7450 OCEAN TERRACE LLC, OCEAN TERRACE TRUSTEE LLC, OCEAN TERRACE RESIDENTIAL LLC, OCEAN TERRACE SHARED FACILITIES LLC, AND OCEAN TERRACE RETAIL LLC (COLLECTIVELY, "PROJECT DEVELOPER"), AND OTH STREETSCAPE, LLC ("PARK DEVELOPER"), FOR THE DEVELOPMENT OF THE OCEAN TERRACE PROPERTY, GENERALLY LOCATED AT 7409, 7421, 7433, 7435, 7437, 7439, 7441, AND 7449 COLLINS AVENUE, AND 7400, 7410, 7420, 7430, 7436,AND 7450 OCEAN TERRACE ("DEVELOPMENT SITE"), AS AUTHORIZED UNDER SECTION 2.11.1 OF THE MIAMI BEACH RESILIENCY CODE (FORMERLY SECTION 118-4 OF THE CITY CODE), AND SECTIONS 163.3220—163.3243, FLORIDA STATUTES, WHICH FIRST AMENDMENT ELIMINATES THE REQUIREMENT THAT THE PROJECT INCLUDE AT LEAST 75 HOTEL UNITS; AND FURTHER, SETTING THE SECOND AND FINAL READING/PUBLIC HEARING OF THE FIRST AMENDMENT TO DEVELOPMENT AGREEMENT FOR A TIME CERTAIN. If this proposed First Amendment to Development Agreement is approved on First Reading, then on May 21, 2025, at 9:25 a.m., or as soon thereafter as the matter can be heard. the Mayor and City Commission of the City of Miami Beach will hold a Second Reading/Public Hearing on the proposed First Amendment to Development Agreement. The City of Miami Beach Commission will host a Hybrid Commission Meeting on April 23, 2025 and May 21, 2025. During the April 23, 2025 and May 21, 2025 Hybrid Commission Meetings, the City Commission will be physically present in the Commission Chamber, at Miami Beach City Hall, 1700 Convention Center Drive, 3'd Floor, Miami Beach, Florida 33139. Members of the public who wish to attend these Commission Meetings or provide public comment in person may appear at the Commission Chamber. Applicants and members of the public who want to participate or provide comment virtually during the Commission Meeting(s) may join the webinar at https://miamibeachfl-gov.zoom.us/i/81392857671 or via telephone at 1.305.224.1968 (U.S.) or 888.475.4499 (Toll-Free). Webinar ID: 81392857671#. Members of the public wanting to speak virtually on an Item during the meeting(s) must dick the 'raise hand" icon if using the Zoom app or press *9 on the telephone to raise their hand. PROPERTY:The Development Site consists of 7409 Collins Avenue(02-3202-003-0120), 7421 Collins Avenue (02-3202-003-0110). 7433 Collins Avenue (02-3202-003-0100), 7435. 7437, 1843 of 2719 and 7439 Collins Avenue(02-3202-003-0090), 7441, 7443, and 7445 Collins Avenue (02-3202- 003-0080), 7449 and 7451 Collins Avenue(02-3202-003-0070), 7400 Ocean Terrace(02-3202- 003-0060), 7410 Ocean Terrace (02-3202-003-0050), 7420 Ocean Terrace (02-3202-003- 0040), 7430 Ocean Terrace (02-3202-003-0030), 7436 Ocean Terrace (02-3202-003-0020), 7450 Ocean Terrace (02-3202-003-0010), and the vacated rights-of-way of Ocean Terrace, 74th Street, and 75th Street (02-3202-003-0135). collectively consisting of approximately 142,220 square feet (3.265 acres) of land. ZONING DISTRICTS: The Development Site is currently located within the Ocean Terrace Overlay District, and two separate underlying zoning districts: CD-2, "Commercial Medium Intensity," and MXE, "Mixed-Use Entertainment." USES: The existing Development Agreement provides that the Project will be developed consistent with the City's Land Development Regulations for the Ocean Terrace Overlay District and the underlying CD-2 and MXE zoning districts. The current man permitted uses in the Ocean Terrace Overlay District include (a) apartments; (b) apartment/hotels; (c) hotels; (d) commercial; and (e) uses that serve alcoholic beverages. At this time, the Project Developer anticipates that the Project will contain seventy-six (76) units, including fifty-two (52) residential units in a tower building and twenty-four(24) condo hotel units in a mid-rise building, in addition to other permitted uses. The proposed First Amendment to Development Agreement will eliminate the Development Agreement's requirement that the Project include at least seventy- five (75) hotel units. POPULATION DENSITIES: In the MXE and CD-2, the maximum residential density is 100 dwelling units per acre. BUILDING INTENSITIES: In the CD-2, the maximum floor area ratio (FAR)is 2.0 for mixed-use buildings. In the MXE, the maximum FAR is 2.0, BUILDING HEIGHT: Within the Ocean Terrace Overlay District, the maximum height of a main use residential building within the Development Site shall not exceed 235 feet, and the maximum height of a main use hotel building within the Development Site shall not exceed 125 feet.The existing Development Agreement provides that the Project may only include one tower in excess of 125 feet. A copy of the proposed First Amendment to Development Agreement is available for public inspection during normal business hours in the Office of the City Clerk, 1700 Convention Center Drive, 1st Floor. City Hall, Miami Beach, Florida 33139. INTERESTED PARTIES are invited to take part in these meetings or be represented by an agent. The public may submit written comments by sending an email to: CitvClerkgwmiamibeachfl.Qov by 5:00 p.m. the day before the City Commission meeting. Please identify the agenda item number in the subject line of the email. Emails received will be forwarded to the Mayor and Commissioners and will be included as a part of the meeting record. This Item is available for public inspection during normal business hours in the Office of the City Clerk, 1700 Convention Center Drive. 1s' Floor, City Hall, Miami Beach, Florida 33139. These meetings, or any Item therein, may be continued, and under such circumstances, additional legal notloe need not be provided. Pursuant to Section 286.0105, Ha. Stat., the City hereby advises the public that if a person decides to appeal any decision made by the City Commission with respect to any matter considered at its meetings or its hearings, such person must ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based.This notice does not constitute consent by the City for the introduction or admission 1844 of 2719 of otherwise inadmissible or irrelevant evidence, nor does it authorize challenges or appeals not otherwise allowed by law. To request this material in an alternate format, sign language interpreter(five-day notice required), information on access for persons with disabilities, and/or any accommodation to review any document or participate in any City-sponsored proceedings, call 305.604.2ADA(2232)and select 1 for English or 2 for Spanish; TTY users may call via 711 (Florida Relay Service). The City Commission Meetings will be broadcast live on Miami Beach TV (MBTV), v ewable on the City's website at https://www.miamibeachfl.qov/government/mbty/, as well as on Breezeline Cable channel 660, AT&T U-verse channel 99. Hotwire Communications channel 395,and ROKU device on PEG.TV channel, and on social media at https7/www.facebook.com/cityofmiamibeach. Parking Meeting attendees can park at the City Hall Garage, 1755 Meridian Avenue, Miami Beach, Florida 33139. Rafael E. Granado, City Clerk City of Miami Beach CitvClerkna miamibeach0.gov 305.673.7411 AD: 04232025.16 105212025-06 WEBSITE I MAILER 1845 of 2719 Agenda Item RS A Date 5-21- P u b I i x , Publix Super Markets, Inc. PO Box 32024 Lakeland FL.33802 863-688-7407 www.publix.com May 20, 2025 City of Miami Beach Mayor&Commissioners Miami Beach City Hall 1700 Convention Ctr Dr Miami Beach, FL 33139 Dear Mayor and City Commissioners, On behalf of Publix Super Markets, we are writing to express our support for Commissioner Fernandez's proposed amendment to chapter 46, article IV, section 46-152 of the city's code.This thoughtful revision would allow businesses like ours the ability to perform necessary sanitation services one day each month during extended hours. This amendment strikes a balance between operational needs, public safety, and community standards. Under the current ordinance, our ability to perform essential sanitation services like pressure washing has been limited due to time restrictions.These limitations have made it difficult to clean our store exteriors during hours that do not pose safety concerns by having equipment and wet surfaces interfere with customer traffic.The proposed amendment provides a practical solution by permitting extended hours on the first Friday of each month, allowing us to complete thorough exterior cleaning after normal business hours. Publix appreciates Commissioner Fernandez's leadership on this issue and the City's ongoing commitment to supporting businesses that strive to maintain high standards of safety and cleanliness.As a company we respectfully urge your support in approving this amendment. Sincerely, Savannah Sipsy Government Relations Manager Publix Super Markets, Inc.