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HomeMy WebLinkAboutResolution 2026-34073RESOLUTION NO, 2026-34073 RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE CITY MANAGER AND THE CITY CLERK TO EXECUTE THE FOLLOWING INSTRUMENTS IN FAVOR OF FLORIDA POWER & LIGHT (FPL): (1) A PERPETUAL NON-EXCLUSIVE EASEMENT, ATTACHED TO THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS RESOLUTION AS EXHIBIT "A", HAVING AN AREA OF APPROXIMATELY 14,925 SQUARE FEET, LYING IN SECTION 34, TOWNSHIP 53 SOUTH, RANGE 42 EAST, ALSO BEING A PORTION OF THE LANDS KNOWN AS THE MIAMI BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COURSE (MIAMI BEACH GOLF CLUB PROPERTY), AS MORE PARTICULARLY DESCRIBED IN THE EASEMENT, FOR THE CONSTRUCTION, OPERATION AND MAINTENANCE OF AN UNDERGROUND ELECTRIC TRANSMISSION LINE, IN CONSIDERATION FOR THE PAYMENT TO THE CITY OF A TOTAL ONE-TIME USE FEE OF $682,500.00; AND TWO (2) TEMPORARY CONSTRUCTION LICENSE AND USE AGREEMENTS FOR USE OF A PORTION OF THE MIAMI BEACH GOLF CLUB PROPERTY FOR THE STAGING OF CONSTRUCTION EQUIPMENT AND SUPPLIES AND PARKING OF CONSTRUCTION VEHICLES IN CONNECTION WITH THE PROJECT: (i) A LICENSE AND USE AGREEMENT, ATTACHED TO THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS RESOLUTION AS EXHIBIT "B", FOR USE OF APPROXIMATELY 1,942 SQUARE FEET OF LAND, IN CONSIDERATION FOR THE PAYMENT TO THE CITY OF AN ANNUAL USE FEE OF $18,000.00; AND (ii) A LICENSE AND USE AGREEMENT, ATTACHED TO THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS RESOLUTION AS EXHIBIT "C", FOR USE OF APPROXIMATELY48,717 SQUARE FEET OF LAND, IN CONSIDERATION FOR THE PAYMENT TO THE CITY OF AN ANNUAL USE FEE OF $457,000.00. WHEREAS, on July 28, 2021, the Mayor and City Commission (the "City Commission") approved a request from Florida Power and Light ("FPL"), authorizing the City Manager and the City Clerk to execute two (2) perpetual, non-exclusive Easements and three License and Use Agreements in favor of FPL; and WHEREAS, these Easements and associated License and Use Agreements were associated with the installation, operation, and maintenance of underground utility facilities related to the Miami Beach Alton -Venetian Underground Transmission Line Project, and are described as follows: (1) Aten (10) foot -wide Easement, having an area of approximately 3,352 square feet, located at Flamingo Park, within a portion of Lot 7, Block 63, of the "Ocean Beach Florida Addition No. 3," recorded in Plat Book 2, Page 81, for a total one-time use fee of $258,500.00; and (II) An Easement having an area of approximately 3,803 square feet, located at the Miami Beach Golf Course, along a portion of Lots 13 and 14, Block 11-A, of the "Subdivision of Block 11-A Island View Addition," recorded in Plat Book 40, Page 12, for a total one-time use fee of $172,900.00; and (III)Three (3) License and Use Agreements for the staging of construction equipment and parking of construction vehicles in connection with the project: (i) a License and Use Agreement for approximately 43,011 square feet, located at Flamingo Park along Michigan Avenue, for an annual use fee of $437,300.00; (ii) a License and Use Agreement for a working area of approximately 10,302 square feet, located at the Miami Beach Golf Course along Michigan Avenue, for an annual use fee of $102,500.00; and (iii) a License and Use Agreement for the pipe perimeter, covering approximately 35,581 square feet, located at the Miami Beach Golf Course along North Michigan Avenue and Alton Road, for an annual use fee of $340,000.00. WHEREAS, FPL recently notified the City of the continuation of this infrastructure initiative as part of an ongoing effort to strengthen the existing transmission infrastructure and accommodate future load growth on Miami Beach; and WHEREAS, FPL is proposing the installation of three (3) 8-inch-diameter and three (3) 4- inch-diameter high -density polyethylene (HDPE) conduits to house electrical transmission cables, which will be installed using jetting/trenching and horizontal directional drilling (HDD); and WHEREAS, the proposed underground installation is expected to originate from an existing manhole north of the intersection of Michigan Avenue and Dade Boulevard, travel south to Dade Boulevard, and continue northeast along Dade Boulevard, beneath Collins Canal, and into the Roney Substation; and WHEREAS, trenching is proposed in upland areas from the existing manhole to the proposed bore entry location southwest of the intersection of Meridian Avenue and Dade Boulevard (Location 1), with the remainder of the underground installation to be completed via HDD from Location 1 to the proposed bore entry location outside the Roney Substation (Location 2), located at 2330 Liberty Avenue, followed by jetting/trenching from Location 2 into the Roney Substation, and conduit stringing proposed within the northeastern end of Collins Canal and the southern end of Indian Creek; and WHEREAS, permitting will be required for the proposed work between Location 1 and Location 2, between Location 2 and the Roney Substation, and along the conduit stringing route in Collins Canal and Indian Creek; and WHEREAS, construction is anticipated to begin in the first quarter of 2026 and is expected to take approximately six to nine months to complete; and WHEREAS, in connection with this work, FPL has requested that the City grant FPL the following property rights on the Miami Beach Golf Club property, lying in Section 34, Township 53 South, Range 42 East, also being a portion of the lands known as the Miami Beach Golf Club, formerly Bayshore Golf Course (Miami Beach Golf Club Property): (1) One (1) perpetual, non-exclusive easement ("Easement"), having an area of approxi- mately 14,925 square feet, as more particularly described in the Easement attached to the City Commission Memorandum accompanying this Resolution as Exhibit "A" for the con- struction, operation and maintenance of the proposed underground electric transmission line; and (2) Two (2) temporary construction License and Use Agreements for the staging of construc- tion equipment, which could include HDD equipment and excavation equipment; HDD supporting equipment and supplies, such as tanks and bins; and parking of construction vehicles in connection with the project: (i) a License and Use Agreement for use of approximately 1,942 square feet of land, a copy of which is attached to the City Commission Memorandum accompanying this Resolution as Exhibit "B" (1,942 License Agreement"); and (ii) a License and Use Agreement for use of approximately 48,717 square feet of land, attached to the City Commission Memorandum accompanying this Resolution as Exhibit "C" ("48,717 License Agreement"), and WHEREAS, City staff followed the same protocol as the Miami Beach Alton -Venetian Underground Transmission Line Project, which included ordering an appraisal to estimate the fair market value of the one-time use fee for the proposed new Easement and annual use fee for the proposed new License and Use Agreements; and WHEREAS, the appraisal secured by the City is attached to the City Commission Memorandum accompanying this Resolution as Exhibit "D" and includes the valuation methods for (i) an easement estate interest, which includes use of the surface space, up to 10 feet of the air rights above the surface space, and 10 feet of subsurface space for installation of underground utility infrastructure; and (ii) a fee simple estate interest, which also includes the easement estate interest plus use of the air rights above 10 feet from the surface area; and WHEREAS, since FPL will be using the surface and the 10 feet below the surface for the installation of its utility infrastructure, the City Administration recommends utilizing the one-time use fee for an easement estate interest, in the total sum of $682,500.00, as the appropriate valuation for the Easement; and WHEREAS, for the License and Use Agreements, the City Administration recommends utilizing the annual rent valuation based upon the fee simple estate interest of the City's property, in that, FPL will be storing and using equipment, such as excavation equipment, which could include use of air rights above 10 feet from the surface; and WHEREAS, based upon the foregoing analysis, the City will be receiving the following consideration in connection with the Easement and two (2) temporary construction License and Use Agreements: • One -Time Use Fee for the Easement, based the purchase of an easement estate interest, in the amount of $682,500.00; • Annual Use Fee for the 1,942 License Agreement, based upon the rent/use of a fee simple estate interest, in the amount of $18,000.00, payable on a monthly basis, in the amount of $1,500.00 per month; and • Annual Use Fee for the 48,717 License Agreement, based upon the rent/use of a fee simple estate interest, in the amount of $457,000.00, payable on a monthly basis, in the amount of $38,083.33, with one monthly payment of $38,083.37 per year; and WHEREAS, the City Manager recommends approving the proposed Easement and License and Use Agreements in order to accommodate future load growth for the City of Miami Beach. NOW, THEREFORE BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby approve and authorize the City Manager and the City Clerk to execute the following instruments in favor of Florida Power & Light (FPL): (1) a perpetual non-exclusive Easement, attached to the City Commission Memorandum accompanying this Resolution as Exhibit "A", having an area of approximately 14,925 square feet, lying in Section 34, Township 53 South, Range 42 east, also being a portion of the lands known as the Miami Beach Golf Club, formerly Bayshore Golf Course (Miami Beach Golf Club Property), as more particularly described in the Easement, for the construction, operation and maintenance of an underground electric transmission line, in consideration for the payment to the City of a total one-time use fee of $682,500.00; and two (2) temporary construction License and Use Agreements, lying in a portion of the Miami Beach Golf Club Property, for the staging of construction equipment and supplies and parking of construction vehicles in connection with the project: (i) a License and Use Agreement, attached to the City Commission Memorandum accompanying this Resolution as Exhibit "B", for use of approximately 1,942 square feet of land, in consideration for the payment to the City of an annual use fee of $18,000.00; and (ii) a License and Use Agreement, attached to the City Commission Memorandum accompanying this Resolution as Exhibit "C", for use of approximately 48,717 square feet of land, in consideration for the payment to the City of an annual use fee of $457,000.00. PASSED and ADOPTED this 5" day of r­ebnea2025. ATTEST: FEB 0 9 2026 Rafa E. Gr nado, City Clerk Steven Meiner, Mayor APPROVED AS TO FORM & LANGUAGE R EXECUTION r hI I2ov, City Attorney Date Resolutions - C7 M MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Eric Carpenter, City Manager DATE February 5, 2026 TITLE A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE CITY MANAGER AND THE CITY CLERK TO EXECUTE THE FOLLOWING INSTRUMENTS IN FAVOR OF FLORIDA POWER & LIGHT (FPL): (1) A PERPETUAL NON-EXCLUSIVE EASEMENT, ATTACHED TO THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS RESOLUTION AS EXHIBIT "A", HAVING AN AREA OF APPROXIMATELY 14,925 SQUARE FEET, LYING IN SECTION 34, TOWNSHIP 53 SOUTH, RANGE 42 EAST, ALSO BEING A PORTION OF THE LANDS KNOWN AS THE MIAMI BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COURSE (MIAMI BEACH GOLF CLUB PROPERTY), AS MORE PARTICULARLY DESCRIBED IN THE EASEMENT, FOR THE CONSTRUCTION. OPERATION AND MAINTENANCE OF AN UNDERGROUND ELECTRIC TRANSMISSION LINE, IN CONSIDERATION FOR THE PAYMENT TO THE CITY OF A TOTAL ONE-TIME USE FEE OF $682,500.00, AND TWO (2) TEMPORARY CONSTRUCTION LICENSE AND USE AGREEMENTS FOR USE OF A PORTION OF THE MIAMI BEACH GOLF CLUB PROPERTY FOR THE STAGING OF CONSTRUCTION EQUIPMENT AND SUPPLIES AND PARKING OF CONSTRUCTION VEHICLES IN CONNECTION WITH THE PROJECT: (i) A LICENSE AND USE AGREEMENT, ATTACHED TO THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS RESOLUTION AS EXHIBIT B", FOR USE OF APPROXIMATELY 1.942 SQUARE FEET OF LAND, IN CONSIDERATION FOR THE PAYMENT TO THE CITY OF AN ANNUAL USE FEE OF $18.000.00; AND (ii) A LICENSE AND USE AGREEMENT. ATTACHED TO THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS RESOLUTION AS EXHIBIT "C", FOR USE OF APPROXIMATELY 48,717 SQUARE FEET OF LAND, IN CONSIDERATION FOR THE PAYMENT TO THE CITY OF AN ANNUAL USE FEE OF $457,000.00. RECOMMENDATION The Administration recommends approving the Resolution. BACKGROUND/HISTORY On July 28, 2021, the Mayor and City Commission (the 'City Commission") approved a request from Florida Power and Light (' FPL"), authorizing the City Manager and the City Clerk to execute two (2) perpetual, non-exclusive easements in favor of FPL. These easements were associated with the installation, operation, and maintenance of underground utility facilities related to the Miami Beach Alton -Venetian Underground Transmission Line Project. and are described as follows: (1) A ten (10) foot -wide easement, having an area of approximately 3,352 square feet, located at Flamingo Park, within a portion of Lot 7. Block 63, of the "Ocean Beach Florida Addition No. 3." recorded in Plat Book 2, Page 81, for a total one-time use fee of $258,500. and 394 of 2180 (II) An easement having an area of approximately 3,803 square feet, located at the Miami Beach Golf Course, along a portion of Lots 13 and 14, Block 11-A, of the Subdivision of Block 11-A Island View Addition." recorded in Plat Book 40.. Page 12, for a total one-time use fee of $172,900. and (III) Three (3) license and use agreements for the staging of construction equipment and parking of construction vehicles in connection with the project: (i) A license and use agreement for approximately 43,011 square feet, located at Flamingo Park along Michigan Avenue, for an annual use fee of $437,300, (ii) A license and use agreement for a working area of approximately 10,302 square feet, located at the Miami Beach Golf Course along Michigan Avenue, for an annual use fee of $102.500, and (iii) A license and use agreement for the pipe perimeter, covering approximately 35,581 square feet, located at the Miami Beach Golf Course along North Michigan Avenue and Alton Road, for an annual use fee of $340,000. FPL recently notified the City of the continuation of this infrastructure initiative. This is an ongoing effort to strengthen the existing transmission infrastructure and accommodate future load growth on Miami Beach FPL is proposing the installation of three (3) 8-inch-diameter and three (3) 4- inch-diameter high -density polyethylene (HDPE) conduits to house electrical transmission cables The conduits will be installed using jetting/trenching and horizontal directional drilling (HDD). The proposed underground installation is expected to originate from an existing manhole north of the intersection of Michigan Avenue and Dade Boulevard, travel south to Dade Boulevard, and continue northeast along Dade Boulevard. beneath Collins Canal, and into the Roney Substation Trenching is proposed in upland areas from the existing manhole to the proposed bore entry location southwest of the intersection of Meridian Avenue and Dade Boulevard (Location 1). The remainder of the underground installation will be completed via HDD from Location 1 to the proposed bore entry location outside the Roney Substation (Location 2), located at 2330 Liberty Avenue. This will be followed by jetting/trenching from Location 2 into the Roney Substation Conduit stringing is also proposed within the northeastern end of Collins Canal and the southern end of Indian Creek Permitting will be required for the proposed work between Location 1 and Location 2, between Location 2 and the Roney Substation. and along the conduit stringing route in Collins Canal and Indian Creek. Construction is anticipated to begin in the first quarter of 2026 and is expected to take approximately six to nine months to complete In connection with this work, FPL has requested that the City grant FPL the following property rights on the Miami Beach Golf Club property, lying in Section 34, Township 53 South, Range 42 East, also being a portion of the lands known as the Miami Beach Golf Club. formerly Bayshore Golf Course (Miami Beach Golf Club Property): (1) One (1) perpetual, non-exclusive easement ("Easement"), having an area of approximately 14,925 square feet. as more particularly described in the Easement attached hereto as Exhibit "A" for the construction, operation and maintenance of the proposed underground electric transmission line: and (2) Two (2) temporary Construction License and Use Agreements for the staging of construction equipment, which may include HDD equipment and excavation equipment, HDD supporting equipment and supplies, such as tanks and bins: and parking of construction vehicles in connection with the project: 395 of 2180 (i) A License and Use Agreement for use of approximately 1,942 square feet of land, a copy of which is attached hereto as Exhibit "B" (1,942 License Agreement"); and (ii) A License and Use Agreement for use of approximately 48,717 square feet of land, attached hereto as Exhibit "C" ("48,717 License Agreement"). ANALYSIS City staff followed the same protocol as the Miami Beach Alton -Venetian Underground Transmission Line Project. This included ordering an appraisal to estimate the fair market value of the one-time use fee for the Easement and annual use fee for the proposed License and Use Agreements. The appraisal secured by the City ("Appraisal"), attached here to as Exhibit "D", includes the valuation methods for (i) an easement estate interest, which includes use of the surface space, up to ten (10) feet of the air rights above the surface space, and ten (10) feet of subsurface space for installation of underground utility infrastructure; and (ii) a fee simple estate interest, which also includes the easement estate interest plus the air rights above ten (10) feet from the surface area. Since FPL will be using the surface and the ten (10) feet below the surface for the installation of its utility infrastructure, the City Administration recommends utilizing the one-time use fee for an estate easement interest, in the total amount of $682,500.00, as the appropriate valuation for the Easement. For the License and Use Agreements, the City Administration recommends utilizing the annual rent valuation based upon the fee simple estate interest of the City's property, in that, FPL will be storing and using equipment, such as excavation equipment, which could include use of air rights above ten (10) feet from the surface. Based upon the foregoing analysis, the City will be receiving the following consideration in connection with the Easement and two (2) temporary construction License and Use Agreements: • One -Time Use Fee for the Easement, based upon use of an easement estate interest, in the amount of $682,500.00; • Annual Use Fee for the 1,942 License Agreement, based upon use of a fee simple estate interest, in the amount of $18,000.00, payable on a monthly basis, in the amount of $1,500.00; and • Annual Use Fee for the 48,717 License Agreement, based upon use of a fee simple estate interest, in the amount of $457,000.00, payable on a monthly basis, in the amount of $38,083.33, with one monthly payment of $38,083.37. The Administration recommends approving the proposed Easement and License and Use Agreements in order to accommodate future load growth for the City of Miami Beach. 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://www.miamibeachfi.gov/city-hall/city-clerk/meeting-notices/ 396 of 2180 FINANCIAL INFORMATION Based on the appraisal results, the City will be receiving: • One -Time Use Fee for the Easement, in the amount of $682,500.00; • Annual Use Fee for the 1,942 License Agreement, in the amount of $18,000.00, payable on a monthly basis; and • Annual Use Fee for the 48,717 License Agreement, in the amount of $457,000.00, payable on a monthly basis. CONCLUSION The Administration recommends approving the Resolution. Applicable Area South Beach Is this a "Residents Right to Know" item, pursuant to City Code Section 2-17? Yes Is this item related to a G.O. Bond Project? 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): Chelsea Lunn, FPL External Affairs Manager Department Public Works Sponsor(s) Co-sponsor(s) Condensed Title Execute 1 Perpetual Easement & 2 Temporary Construction License/Use Agmts for FPL. PW Previous Action (For City Clerk Use Only) Deferred from 12/17/2025 - C7 AJ 397 of 2180 Prepared by and Return to Ignacio Sarmiento Florida Power and Light Company 4200 West Flagler Street Miami, Florida 33134 Property ID#: 02-3227-000-0100 EXHIBIT "A" EASEMENT THIS EASEMENT ("Easement") dated this day of , 202_ is by and between the CITY OF MIAMI BEACH, FLORIDA, a Florida municipal corporation, and its successors and assigns, whose address is 1700 Convention Center Drive, Miami Beach, Florida 33139 ("Owner"), and FLORIDA POWER & LIGHT COMPANY, a Florida corporation, and its successors and assigns, whose address is P.O. Box 14000, Juno Beach, Florida 33408-0420 ("Company"). For and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration paid by Company, the receipt and sufficiency whereof is hereby acknowledged by Owner, Owner does hereby grant, bargain, sell and convey to Company, its licensees, agents, successors and assigns, easement interests and rights for the purposes described and set forth in the attached Exhibit A in, on, over, under, upon and across the lands located in Miami -Dade County, Florida described in the attached Exhibit B, each exhibit being incorporated herein by reference. (Executions and Acknowledgments on following pages.) 398 of 2180 IN WITNESS WHEREOF, the undersigned has signed and sealed this instrument on the date set forth below. Signed, sealed and delivered in the presence of: Witness Signature: Print Name: Address: Witness Signature: Print Name: Address: STATE OF FLORIDA COUNTY OF MIAMI-DADE CITY OF MIAMI BEACH, FLORIDA, a Florida municipal corporation By: Print Name: Eric T. Carpenter Title: City Manager Attest: Print Name: Rafael E. Granado Title: Ci Clerk ACKNOWLEDGMENT )ss: The foregoing instrument was acknowledged before me by means of ❑ physical presence or ❑ online notarization, this day of , 202_, by Eric T. Carpenter, as City Manager and attested by Rafael E. Granado, as City Clerk, of the CITY OF M1AMI BEACH, FLORIDA, a Florida municipal corporation, on behalf of the City. They ❑ are Personally Known to me ❑ OR Produced as Identification IN WITNESS WHEREOF, I hereunto set my hand and official seal. NO'CARY PUBLIC, STATE OF FLORIDA Print Name: Commission No.: My Commission Expires: 2 399 of 2180 IN WITNESS WHEREOF, the undersigned has signed and sealed this instrument on the date set forth below. Signed, sealed and delivered Witness Signature: Print Name: Address: 700 Universe Boulevard Juno Beach, Florida 33408 Witness Signature: Print Name: Address: 700 Universe Boulevard Juno Beach. Florida 33408 FLORIDA POWER & LIGHT COMPANY, a Florida corporation By: Print Name: Title: ACKNOWLEDGMENT STATE OF FLORIDA ) )ss: COUNTY OF ) The foregoing instrument was acknowledged before me by means of ® physical presence or ❑ online notarization, this day of , 202 by , as of FLORIDA POWER & LIGHT COMPANY, a Florida corporation, on behalf of corporation. He/She 19 is Personally Known to me ❑ OR Produced as Identification IN WITNESS WHEREOF, I hereunto set my hand and official seal. NOTARY PUBLIC, STATE OF FLORIDA Print Name: Commission No.: My Commission Expires: 400 of 2180 Exhibit A Underground Easement Rights To Be Acquired (Perpetual Underground Transmission Easement) A perpetual, non-exclusive easement for use by the Company, and its contractors, licensees, agents, successors and assigns, for the construction, operation and maintenance of an underground electric transmission line, and all necessary appurtenant equipment associated therewith, including cables, wires, fiber optic, markers, boxes, manholes and conduits to be used in connection with the construction, operation and maintenance of the underground electric transmission line (collectively, the "Electrical Facilities"), under, on, through and across those certain lands located in Miami -Dade County, Florida, more particularly described in Exhibit B attached hereto and incorporated herein by this reference (the "Transmission Easement Area"); together with the rights to repair, reconstruct, inspect, alter, improve, change the voltage as well as the size of, abandon in place, replace with another, remove or relocate within the Transmission Easement Area such Electrical Facilities in, under, on, through and across the Transmission Easement Area; together with all rights necessary or convenient for the full enjoyment or use thereof for the above - mentioned purposes; provided that, except in the event of an emergency, Company will coordinate all work authorized pursuant to this Easement with Owner in order to minimize disruption of the Owner's use of its lands; further provided that, Company accepts the Transmission Easement Area on an "as is" "where is" basis and assumes all risk with respect to the condition thereof, without limitation, thereunder or appurtenant thereto, whether known or unknown to Owner; further provided that, Company shall not (either with or without negligence) cause or permit the use, storage, generation, escape, disposal or release of any Hazardous Substances (as defined below) in any manner not sanctioned by law. For the purposes of this Easement, "Hazardous Substances" shall mean, without limitation, all hazardous toxic substances, wastes and materials, all pollutants and contaminants and any other similar substances or materials which are included under or regulated by any present or future Environmental Laws (as defined below). For purposes of this Easement, the term "Environmental Laws" means any local, state or federal law, rule or regulation pertaining to protection of human health and the environment, or environmental contamination, clean-up or disclosure including, without limitation, the federal Comprehensive Environmental Response Compensation and Liability Act of 1980, the federal Resource Conservation and Recovery Act of 1976, and any applicable law concerning waste management for the state where the Transmission Easement Area is located, and amendments thereto, and regulations adopted pursuant to all such laws, rules or regulations, as amended. In all events, Company shall be responsible for remediating any damage caused from the release of any Hazardous Substances within on the Transmission Easement Area or any surrounding areas caused by Company or persons acting under Company; further provided that, no surface structures shall be placed within the Transmission Easement Area by the Company and that the Company shall not restrict vehicular or pedestrian access through, or otherwise enclose the Transmission Easement Area except during times of Company's installation, construction and/or maintenance of the Electrical Facilities located therein; 4 401 of 2180 further provided that, subject to the Company's acquired easement rights herein, to the extent the Company's use of the Transmission Easement Area results in damage to improvements, including Permitted Structures (as defined below), within the Transmission Easement Area, the Company will repair or replace such improvements with the same, like or better quality; further provided that, any existing buildings or structures, and appurtenances thereto, located within the Transmission Easement Area on the effective date of this Easement (collectively, "Existing Structures") shall be allowed to remain, and to be maintained, repaired and reconstructed in their current location(s), and provided further that, to the extent otherwise legally permissible, such Existing Structures may be enlarged or expanded with the express prior written consent of the Company, but specifically excluding any Permitted Structures (as defined below) and Other Utility Structures (as defined below), which Permitted Structures and Other Utility Structures do not require the express prior written consent of the Company provided that such work does not (i) interfere with the Company's Electrical Facilities or the ability to access and/or enter its manhole located within the Transmission Easement Area or (ii) excavate any portion of the Transmission Easement Area deeper than four (4) feet from ground surface, otherwise, any such work shall require Company's express prior written consent; further provided that, subject to the foregoing, the following shall be reserved to the owner(s) of each said property, and its agents, successors and assigns (each individually and collectively, the "Owner'): the right and privilege to use the Transmission Easement Area for all other lawful purposes permitted, except as otherwise expressly herein stated, or as might interfere or be inconsistent with the Company's use, occupation, maintenance or enjoyment thereof, provided that no building or structures, other than fences, driveways, entry roads, surface parking, sidewalks, landscaping, or traffic signs (collectively, the "Permitted Structures"), will be located or constructed by the Owner, its contractors, licensees, agents, successors and assigns on the Transmission Easement Area, without the express prior written consent of the Company, and provided further, that the Owner shall not excavate any portion of the Transmission Easement Area deeper than four (4) feet below ground surface without the express prior written consent of the Company, including for Permitted Structures. Notwithstanding the foregoing, in addition to Permitted Structures, Owner and its contractors, licensees, agents, successors and assigns may also install streetlights and typical right-of-way utilities (such as sewer lines, water lines, landscaping irrigation pipes, cable, television and other communication utility facilities and any other utilities etc.) (collectively, "Other Utility Structures') within the Transmission Easement Area without the express prior written consent of the Company, provided that such work does not (i) interfere with the Company's Electrical Facilities or its ability to access and/or enter its manhole located within the Transmission Easement Area, (ii) excavate any portion of the Transmission Easement Area deeper than four (4) feet from ground surface, or (iii) contain less than a minimum of a two (2) foot separation from edge of the Electrical Facilities, otherwise, any such work shall require Company's express prior written consent. further provided that, for sake of clarity, where provided anywhere in this Easement that the Owner's use of the Transmission Easement Area is subject to the express prior written consent of the Company, such consent shall not be unreasonably withheld, delayed or conditioned by the Company, nor will the Company require any cost from Owner for such consent or execution of any additional consent form that conflicts with this Easement; 5 402 of 2180 further provided that, the Company shall have the right to temporarily remove any Permitted Structures located within the Transmission Easement Area the Company reasonably deems necessary in order to access the Transmission Easement Area and perform its easement rights granted herein, whereupon in such event the Company will reinstall, repair or replace such Permitted Structures removed by the Company hereunder with the same, like or better quality; further provided that, all notices hereunder shall be in writing and shall be given by (i) established national courier service which maintains delivery records, (ii) hand delivery, or (ii) certified or registered mail, postage prepaid, return receipt requested to the addressees contained herein, effective upon receipt, or upon attempted delivery if delivery is refused; If to Owner: City of Miami Beach, Florida 1700 Convention Center Drive Miami Beach, Florida 33139 Attention: City Manager With copy to: City of Miami Beach City Manager 1700 Convention Center Drive Miami Beach, Florida 33139 Attention: City Attorney If to Company: Florida Power & Light Company 700 Universe Boulevard Juno Beach, Florida 33408 Attention: Corporate Real Estate Department With copy to: Florida Power & Light Company 700 Universe Boulevard Juno Beach, Florida 33408 Attn: General Counsel; and further provided that, the parties further agree that nothing contained herein shall be construed or interpreted as (1) denying Owner any remedy or defense available to Owner under the laws of the State of Florida, (2) the consent of Owner to be sued; or (3) a waiver of sovereign immunity by Owner beyond the waiver provided in Section 768.28, Florida Statutes. Ci 403 of 2180 Exhibit B Easement Area 404 of 2180 A PARCEL OF LAND LYING IN SECTION 34, TOWSHIP 53 SOUTH, RANGE 42 EAST ALSO BEING A PORTION OF THE LANDS KNOW AS MIAN BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COURSE PER THE BOUNDARY SURVEY PREPARED BY FR ALEMAN & ASSOCIATES SIGAEOBY FRANK PARUAS, DATED ,✓GYVE 10,2016, LYING AND BEING /N THE CITY OF MIAMI BEACH, MIAMI-DARE COUNTY, FLORIOA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS COMMENCE AT A FOUND IRON ROD (NO IDEN 77RCA 770N) MARKWG THE NORTHEAST CORNER OF LOT 13 OF THE PLAT TITLED R£SUBD/VISION OF BLOCK 11-A /SLAND VIEW ADDITION" PER PLAT BOOK 40, PAGE 12 OF THE PUBLIC RECORDS OF AMAMI-DARE COUNTY THENCE RUN S8/57.34 E FOR 9242 FEET TO A FOUND MAG-NAIL (NO A0EN77FICA710N), SAID POINT BEING AN THE EASTERLY RIGHT-OF-WAY LINE OF NORTH M FCHIGAN AVENUE (A 70 FOOT WOE PUBLIC RICHT-OF-WAY PER SAID PLAT BOOK 40, PACE 12. OF THE PUBLIC RECORDS OF MMAMI-DADE COUNTY), SAID PANT ALSO BEING A POINT OF CURVATURE OF A 107.20 FOOT .RADIUS CURIE CONCAVE TO THE NORTHEAST. THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 2774 22" A CHORD BEARING OF S4510541 "E, A CHORD DISTANCE OF 50.79 FEET, AN ARC DISTANCE OF 51.28 FEET TO A POINT, SAID POINT BEING THE SOUTHEAST CORNER Of- CFN 20210947161 BOOK 32911 PAGE 4078 AND ►HE POINT OF BEGINNING; THENCE DEPARTING SAID RIGHT-OF-WAY LINE RUN N014625W ALONG THE EAST ONE OF SAID EASEMENT FOR 25IJ FEET TO A POINT ON A NON -TANGENT CURVE 20 FEET NORTHERLY OF AND PARALLEL WTH THE NORTHERLY RIGHT-OF-WAY LINE OF DADS BOULEVARD (A VARIABLE WOTH PUBLIC RfGHT-Or-WAY), SMD CURVE HAVING AN 87.20 FOOT RADIUS CONCAVE TO IH£ NORTH,- THENCE RUN EASTERLY ALONG SAID PARALLEL CURVE THROUGH A CENTRAL ANGLE OF 7177'03" A CHORD BEARING OF S8579 59 E; A CHORD LENGTH OF 101.83 FEET, AN ARC DISTANCE OF 108.74 FEET TO A POINT Of' TANGENCY; THENCE COOV77NUE ALONG A LINE 20 FEET NORTHERLY OF AND PARALLEL TO SAID NORTHERLY RIGHT OF WAY OF DADE BOULEVARD, N5846'30 E FOR 652.77 FEET TO A POINT ON THE KCSTERLY RIGHT-OF-WAY UNE OF NORTH MERIDIAN AVENUE (A 70 FOOT WDE PUBLIC RIGHT-OF-WAY PER PLAT BOOK 30, PACE 19, OF THE PUBLIC RECORDS OF M/AAN-DAD£ COUNTY); THENCE RUN ALONG SAID NESTERLY RIGHT-ar-WAY LINE S213720'W FOR 1.26 FEET TO A POINT OF CURVATURE OF A 100.00 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST,7HENCE COW RNUE SOUTHNESFERL Y ALONG SAID R16HT OF -WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 36 09'09' A CHORD BEARING OF S40 4155'W, A CHORD LENGTH OF 62.06 FEET AN ARC DISTANCE OF 63.10 FEET TO A POINT ON THE NORTHERLY RIGHT -CIF -WAY LINE OF SAID DADE BOULEVARD AND A POINT OF TANGENCY,THENCE RUN ALONG SAID NORTHERLY RIGHT-OF-WAY LINE S584630'W FOR 592.76 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LINE OF SAID NORTH WCHIGAN AVENUE AND A PANT OF CURVAILARE OF A 107.20 FOOT RADIUS CURVE CONCAVE 70 THE NORTH; THENCE RUN EASTERLY ALONG SAID EASTERLY RIGHT-OF-WAY LNVE AND SAD CURVE THROUGH A CENTRAL ANGLE OF 6275 38 , A CHORD BEARING OF S6959'19'W, A CHORD LENGTH OF 111.11 FEET, AN ARC DISTANCE OF 116.80 FEET TO THE POINT OF BEGINNING. CONTAINING 14,925 SQUARE FEET (0.34 ACRES) MORE OR LESS SKETCH NOTES• 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY RIGHT-OF-WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING S3173'30 E AS SHOWN ON THE FR ALEMAN & ASSOCIATES SURVEY, SIGNED BY FRANK PARUAS, DATED DUNE 10, 2016. 2 LANDS SHOWN HEREON WIRE NOT ABSTRACTED FOR RIGHTS -OF -WAY, EASEMENTS, OWNERSHIP, ADJOINERS OR OTHER INSTRUMENTS OF RECORD. 3 THIS SKETCH MEETS THE APPLICABLE STANDARDS OF PRAC77CE" AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN RULE 5J17.050-.052, FLORIDA ADMINISTRATIVE CODE. 4. THIS /S NOT A BOUNDARY SURVEY SKETCH OF DESCRIPTION ONLY. THIS SKETCH OF DESCRIPTION OF FPL EASEMENT LOCH nm AV SEC AX 34, M WMSW 33 SWN RAVff 4 CAST MAN-aW WWTY, RaWA PREPARED FOR: FLORIDA POWER & LIGHT COMPANY N .4p sz= NORTH �l' M Ckfr.AN A~ S VICINITY MAP (NOT TO SCALE) LEGEND: —it--� Pr Rd/P��Qr Lff &WAK PA r QF LIAPVA PPGOII�FW/ AGF� WHY rRErMS 9" A T. g¢ACC DEPAN r%�TA ik]Ni F*M YAG-mm © FOU10 mm t " O FOU V #MV AIDE FOLM ARM ROD EASEAIENr SHEET INDEX, SHEET 1: KCINTY MAP, NOTES, LEGAL DESCRIP77ON SHEETS 2-4: SKETCH OF DESCRIPTION CERTIFIED TO CITY OF MIAMI BEACH -_W N v "qc' waa V. 12/01/2025 CHAD NOL T£ DA 7E PROFESSIONAL SUR If YOR & MAPPER LICENSE NUMBER LS 7596 NOT VAW W POJT IW a%GWAL 90WA RW AAO RAISED SrAL 07 AN llFCMCW SK,YYAnW Or A R0WA LAf3AISEo SIRWYM AAO MAPPER. (.SEE SHEETS 2-4 FOR SKETCH OF DESCRIP770N) IS NOT A SURVEY. SHEET 1 OF 4 1G/NEERING, L L C SUKVBY Ally 1iMPMW 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONF (800) 581.4031 VWVW.SGCSURVEY.COM LB 7979 DATE 05/08i2025 SCALE 1" = 40' SGC DRAWN SAS 405 of 2180 FOUND NAIL & DISK (FDOT IT/"' FOLIO 02-J234-001-01-; AL TON POWTE LLl FOLIO 02-3234-001-C AL TAW POW TE LOT 13 PLAT BOOK 40, PAGE /2 1000, 0 7b 40 1 WCH - 40 FEET KA I bFUUK 4U I-Aa 1[ FOUND 1/2" IRON ROD (NO ID) N: 5J2165.86 ; E: 939J92.95' POINT OF BEGINNING SOUTHEAST CORNER OF EASEMENT CFN:20210947161 BOOK 32911 PAGE 4078. N: 5J2117.08, E 9J9520.44' CURVE TABLE LENGTH RADIUS DELTA CHORD BEARING 4.30' 7500 Oa" 7'06' 00' S2944571E 51.28' 107.20 0277472' S079' S45V5'411E 10R74' 87.20 0712rW* 101.&r 585291591 1/Sd0" 107.20 0B275J?' 1 111.11' S99309AW 20' FPBL EASEMENT PER KG SKETCH AND DESCRIPTION N. 20210947161 BOOK J2911 PAGE 4078 FOLIO 02-3227-000-0100 CITY OF MIAMI BEACH EAST LINE OF KCI FP&L EASEMENT N58'46'30"E 652.77' I Q FPL EASEMENT (t0.34 A� t/4,925 50. FT.) PT I� C3 J / �PCI C NORTHERL Y R/W LINE OF DADE BL W. S58'46'30"W 592.76' I I SKETCH OF DESCRIP77ON ONLY. THIS 1S NOT A SURREY. SHEET 2 OF 4 SKETCH OF DESCRIPTION OF FPL EASEMENT LOCATED M Sc4cA011' 34, mv4s L° 53 SOYA{ RAAkx 42 EASr Miff " =NTY. AOM4 PREPARED FOR. FLORIDA POWER & LIGHT COMPANY SURVEY AND A14PPM 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE: (800) 581-4031 WWW.SGCSURVEY.COM LB 7979 DATE 05/08/2025 SCALE: V = 40' GC DRAWN: SAS 406 of 2180 i I I I I I I I I I II �I Q PAP FOLIO: 02- 3227- 000 - 0100 ORB N/A, PG N/A OTY OF MIAAI1 BEACH FPL EASEMENT (t0.34 AC, 114,925 SO. FT) I 1.1' SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC FPL EASEMENT SUMEpAA0 A"RM LGG►e0 N 1001 TOWN PLAZA COURT, SUITE 1032 5£CWv Jlk FOONSW W ant RANff 42 CASE RAM -WE COUNTY fLOWA WINTER SPRINGS, FLORIDA 32708 PHONE. (800) 581-4031 PREPARED FM PHONE. FLORIDA POWER & LIGHT COMPANY La 7979 DATE 06/08/2025 SCALE: 1" = 40' Im IZ NOR THERL Y R/W LINE Or DADE & I� I N I I I I I 0 220 0 SHEET 3 OF 4 GC DRAWN SAS 407 of 2180 I � I I / 0� I o�° ao I fPL EASEMENT Z(t0.34 AC, 114,925 50. FT..) �I FOLIO 02—,3227—OW-0100 Gk WESTERLY R/lY LINE CITY OF MI AMIBEACH n 11NIA AWNNRIH MERIDIAN 65 NUE PT I io I NOR THERL Y R/W \` LINE OF DADE BL W N I ( 5gZ1 0 TO 10 .� - w aTT SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 4 OF 4 SKETCH OF DESCRIPTION OF SOC ENG/NEER/NG, LLC FPL EASEMENT SURMY M �PPIW LOCATED Av 1001 TOWN PLAZA COURT, SUITE 1032 9FCACw x rowvswO" st s rY awry u c sr WINTER SPRINGS, FLORIDA 32708 GC /GiN-ONAf C�CNn; RCALbI PREPARED FOR: PHONE. (800) 581-4031 VWVW.SGCSURVEY.COM FLORIDA POWER & LIGHT COMPANY Le 7979 DATE 05/08/2025 SCALE: "' = 40' DRAWN SAS GTJRVE TABL£ CtlRME LENGTH RADIUS DEL TA CH01R0 BEARNVG G 6110' 1OQ00 OIAiL�ibo' 6?.OA' SID'�/ SS1Y uNE TA LINE BEARING LENGTH t? $117i10"W 1.16' 408 of 2180 EXHIBIT "B" LICENSE AND USE AGREEMENT THIS LICENSE AND USE AGREEMENT ("Agreement") is made effective this day of , 202_ ("Effective Date") by and between the CITY OF MIAMI BEACH, FLORIDA, a Florida municipal corporation ("City" or "Licensor'), and FLORIDA POWER & LIGHT COMPANY, a Florida corporation ("Licensee"). Licensor and Licensee may also sometimes be referred to individually as a "Party" and collectively as the "Parties". NOW, THEREFORE, and in consideration of the mutual promises, covenants, agreements, terms and conditions, herein contained, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereto do agree as follows: 1. City Manager's Designee. For purposes of administering this Agreement on behalf of the City, the City Manager's Designee shall be the Public Works Department Director. 2. Permitted Uses. Licensor hereby grants to Licensee a license to occupy and use that certain portion of the City's property as more particularly described in the sketch and legal description attached hereto as Exhibit "A" and incorporated herein by this reference ("Staging Site"), subject to all of the terms and conditions hereof. Licensee may occupy and use the Staging Sites solely for the purpose of staging construction equipment, parking construction vehicles, and storage of construction materials, including pvc pipes and cable reels, in connection with the utility undergrounding work being undertaken by the Licensee along Michigan Avenue with the Staging Site being located along the South perimeter of the Miami Beach Golf Club property, which is the subject of City of Miami Beach permit number RWP0525-13355 (hereinafter referred to as the "Project"). As a condition precedent to using the Staging Site, Licensee shall be required to install an at least six (6) foot high construction fence with windscreen around the Staging Site. Licensee shall be responsible for securing any required governmental approvals/permits from the City's Building Department in connection with the installation of the fence and the approved uses. During the term of this Agreement, Licensee shall be responsible for maintaining, repairing and replacing, as needed, the windscreen and fence in order to keep it in good repair. Licensee shall only be permitted to access the Staging Site from the public right-of-way, through an area mutually agreed upon by the parties and reflected on Exhibit "A". If at the time the parties execute this Agreement the access point has not been determined, Exhibit "A" shall be amended to include the access point once determined. 3. No Improper Use. Licensee will not use, nor suffer or permit any person to use, in any manner whatsoever, the Staging Site for any illegal use, or for any other purpose in violation of any Federal, State, County, or municipal ordinance, rule, order or regulation, or of any governmental rule or regulation now in effect or hereafter enacted or adopted. Licensee will protect, indemnify, and forever save and keep harmless the City, its officials, employees, contractors, and agents from and against damage, penalty, fine, judgment, expense or charge suffered, imposed, assessed or incurred for any violation, or breach of any law, ordinance, rule, order or regulation occasioned by any act, neglect or omission of Licensee, or any official, director, agent, contractor, or servant of Licensee arising out of Licensee's use of the Staging Site; provided, however, Licensee shall not be liable for special, punitive, or consequential damages. In the event of any violation of the terms of this Section 3 of the Agreement by Licensee, the City shall have the right to suspend the use of the Staging Site should Licensee fail to correct any such violation within seventy-two (72) hours following written notice of the nature and extent of such violation. Such suspension shall continue until the violation is cured. 4. Use Fee. Licensee shall pay the City a "Use Fee" in the amount of $18,000.00 per year. The Use Fee shall be payable in advance, on a monthly basis, in the amount of $1,500.00 per 409 of 2180 month, due on the first day of each month during the term of this Agreement. The Use Fee for any partial month shall be prorated, based upon the number of days in the given month. 5. Term/Termination, A. Term. The term of this Agreement shall commence upon the date of the last Party to execute this Agreement, which shall be referenced as the "Effective Date" on page 1 (above) of this Agreement, and shall expire upon the earlier of: (a) one (1) year from the Effective Date; (b) issuance by the City's Building Department of a certificate of completion for the Project; or (c) upon written notification from Licensee that use of the Staging Site is no longer be necessary, whichever occurs first. B. Termination for Cause. If Licensee shall fail to fulfill in a timely manner, or otherwise violates, any of the covenants, agreements, or stipulations material to this Agreement, the City, through its City Manager, shall thereupon have the right to terminate this Agreement for cause after the expiration of the below notice and cure period. Prior to exercising its option to terminate for cause, the City shall notify Licensee of its violation of the particular term(s) of this Agreement and shall grant Licensee thirty (30) days to cure such default. In the event that a default is not reasonably susceptible to being cured within the thirty (30) day cure period, the Licensee shall not be considered in default if it shall, within such period, commence with due diligence and dispatch to cure such default and thereafter completes with dispatch and due diligence the curing of such default. Except with respect to remediations which may be required under Section 11(B), which may reasonably require an extended cure period, all other cure periods shall not exceed one hundred twenty (120) days from the date of written notice thereof. In the event Licensee cures any default pursuant to this subsection, it shall promptly provide the City Manager's designee with written notice of same. If such default remains uncured at the end of the cure period, the City may terminate this Agreement upon delivering written notice of termination to Licensee. Upon termination, the Parties shall be fully discharged from any and all liabilities, duties, and terms arising out of, or by virtue of, this Agreement, except those that expressly survive termination hereof including, without limitation, Sections 7, 11(B) and 13. Notwithstanding the above, Licensee shall not be relieved of liability to the City for damages sustained by the City by any breach of the Agreement by Licensee. The City, at its sole option and discretion, shall be entitled to bring any and all legal and/or equitable actions that it deems to be in its best interest in order to enforce the City's rights and remedies against Licensee. The City shall be entitled to recover all costs of such actions, including reasonable attorneys' fees; provided, however, Licensee shall not be liable for special, punitive, or consequential damages. 6. Performance Bond or Alternate Security. Prior to commencing using the Staging Site, Licensee shall furnish to the City Manager or City Manager's designee a payment and performance bond, in the sum of Fifty Thousand and 00/100 ($50,000.00) Dollars, for which Licensee shall bind itself for the faithful performance of the terms and conditions of this Agreement. A cash deposit, irrevocable letter of credit, or certificate of deposit may also suffice, as determined by the City Manager or City Manager's designee, in his/her sole and reasonable discretion. The form of the performance bond or alternate security shall be reasonably approved by the City's Chief Financial Officer. In the event that a certificate of deposit is approved, it shall be a Fifty Thousand and 00/100 ($50,000.00) Dollar one-year certificate of deposit in favor of the City, which shall be automatically renewed, the original of which shall be held by the City's Chief Financial Officer. Licensee shall be required to maintain said performance bond or alternate security in full force and effect throughout the term of this Agreement. Licensee shall have an 2 410 of 2180 affirmative duty to notify the City Manager or City Manager's designee, in writing, in the event said performance bond or alternate security lapses or otherwise expires. All interest that accrues in connection with any financial instrument or sum of money referenced above shall be the property of Licensee, except in an event of default, in which case the City shall be entitled to all interest that accrues after the date of default. 7. Indemnification. Licensee shall indemnify, hold harmless and defend the City, and its officials, directors, members, employees, contractors, agents, and servants from and against any and all actions (whether at law or inequity), claims, liabilities, losses, and expenses, including, but not limited to, attorneys' fees and costs, for personal, economic or bodily injury, wrongful death, loss of or damage to property, which may arise or be alleged to have arisen from Licensee's performance of its activities under this Agreement or use of the Staging Site. To that extent, Licensee shall pay all such claims or losses and shall pay all such costs and judgments which may issue from any lawsuit arising from such claims and losses, and shall pay all costs and attorneys' fees expended by the City in the defense of such claims and losses, including appeals; provided, however, Licensee shall not be liable for special, punitive, or consequential damages. This Section 7 shall survive the termination or earlier expiration of this Agreement. 8. Insurance. Licensee shall not commence use of the Staging Site under this Agreement until all insurance required under this section has been obtained and such insurance has been approved by the City's Risk Manager. Licensee shall carry and maintain the following insurance coverages during the term of this Agreement: A. Worker's Compensation Insurance as required by Florida, with Statutory limits and Employer's Liability Insurance limit of no less than $1,000,000 per accident for bodily injury or disease. B. Commercial General Liability Insurance on an occurrence basis, including products and completed operations, contractual liability, property damage, bodily injury and personal & advertising injury for vehicles while in the Licensee's care, custody and control with limits no less than $1,000,000 per occurrence, and $2,000,000 general aggregate. City of Miami Beach must be shown as an additional insured with respect to this coverage. C. Automobile Liability Insurance covering all owned, non -owned and hired vehicles used in connection with the work, in an amount not less than $1,000,000 combined single limit per occurrence for bodily injury and property damage. Additional Insured Status The City of Miami Beach must be covered as an additional insured with respect to liability arising out of work or operations performed by or on behalf of the Licensee. Waiver of Subrogation Licensee hereby grants to the City of Miami Beach a waiver of any right to subrogation which any insurer of the Licensee may acquire against the City of Miami Beach by virtue of the payment of any loss under such insurance. Licensee agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation, but this provision applies regardless of whether or not the City of Miami Beach has received a waiver of subrogation endorsement from the insurer. Acceptability of Insurers. The insurance must be furnished by insurance companies authorized to do business in the State of Florida. All insurance policies must be issued by companies rated no less than "A-" as to management and no less than "Class VI" as to strength by the latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick New Jersey, or its equivalent. 3 411 of 2180 Acceptability of Insurers The insurance must be furnished by insurance companies authorized to do business in the State of Florida. All insurance policies must be issued by companies rated no less than "B+" as to management and not less than "Class VI" as to strength by the latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick, New Jersey, or its equivalent. Verification of Coverage Licensee shall provide the required insurance certificates, endorsements or applicable policy language effecting coverage required by this Section. All certificates of insurance and endorsements are to be received prior to any work commencing. However, failure to obtain the required coverage prior to the work beginning shall not waive the Licensee's obligation to provide them. Timely renewal certificates will be provided to the City as coverage renews. Licensee's insurance shall be primary and not contributory for direct claims arising out of the Agreement under the Commercial General Liability policy. In the event of an alleged claim under this Agreement, the City reserves the right, upon reasonable notice to Licensee, to examine the original or true copies of all insurance policies, including endorsements required by these specifications. Licensee agrees to permit such inspection at the offices of Licensee. Special Risks or Circumstances The City of Miami Beach reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special circumstances. Certificate Holder CITY OF MIAMI BEACH c/o INSURANCE TRACKING SERVICES 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FL 33139 Compliance with the foregoing requirements shall not relieve Licensee of his liability and obligation under this section or under any other section of this Agreement. Self -Insurance Licensee may meet the requirements in this Section 8 using any combination of primary, umbrella/excess, or self-insurance programs. Upon the request of the City, Licensee shall provide the City with written evidence of an established self-insurance program meeting the requirements of this Agreement. 9. Inspection. The City shall have the right to inspect the Staging Site (including, without limitation, Licensee's Property thereon) at any time by the City Manager's designee or by any other municipal, County, State officer, or officers of any other agency(ies) having responsibility and/or jurisdiction for inspections of such operations upon at least twenty-four hours prior written notice, except in the event of an emergency. Licensee hereby waives all claims against the City for compensation for loss or damage sustained by reason of any interference with Licensee's operations as a result of inspection by any public agency(ies) or officials, (including, without limitation, by reason of any such public agency or official in enforcing any laws, ordinances, or regulations as a result thereof), unless caused by the City's gross negligence or intentional misconduct. 10. Safety and Workmanship. Licensee shall coordinate all work to the Staging Site with the City Manager's designee in order to minimize impact on the City's operations. Licensee shall take all necessary and reasonable safety precautions, secure the Staging Site by appropriate construction fencing with a dust curtain, and coordinate with the City Manager's designee to 4 412 of 2180 assure the safety of City employees, contractors, residents, guests, invitees, visitors, and the general public at all times during the Term. Licensee shall resolve any safety or workmanship issues to the conditions reasonably mandated by the City. 11. No Dangerous Materials. A. Licensee agrees not to use or permit the storage and/or use of gasoline, fuel oils, diesel, illuminating oils, oil lamps, combustible powered electricity producing generators, turpentine, benzene, naphtha, propane, natural gas, or other similar substances, combustible materials, or explosives of any kind, or any substance or thing prohibited in the standard policies of fire insurance companies in the State of Florida, on or within the Staging Site, or on any City property and/or right of way. Notwithstanding the foregoing, Licensee shall be permitted to store construction equipment, construction vehicles, and construction materials, including pvc pipes in connection with the Project at the Staging Site. Further, for purposes of this Agreement, materials in the process of being prepared and laid out for installation, and/or equipment actively working or in the process being readied for installation of Licensee's improvements shall not be considered storage. B. Licensee shall indemnify and hold the City harmless from any loss, damage, cost, or expense of the City, including, without limitation, reasonable attorney's fees, incurred as a result of, arising from, or connected with the placement by Licensee of any "hazardous substance" or "petroleum products" on, under, in or upon the Staging Site as those terms are defined by applicable Federal and State Statute, or any environmental rules and environmental regulations promulgated thereunder; provided, however, Licensee shall have no liability in the event of the willful misconduct or gross negligence of the City, its agents, servants or employees. The provisions of this Section 11.13 shall survive the termination or earlier expiration of this Agreement. 12. Storm Water Pollution Prevention Plan. Licensee shall submit a Storm -water Pollution Prevention Plan for the Staging Site within sixty (60) days of the Effective Date. The purpose of this Plan is to reduce the potential of sediments and construction debris from entering the City's storm water system from the Licensee's construction staging activities: A. The Licensee should describe and provide indication on a site map of all erosion and sediment controls and storm water best management practices to reduce erosion, sedimentation, and storm water pollution. These controls may include silt fences, entrance/exit controls, storm drain inlet protection, and reinforced soil retaining systems. The Licensee should establish a maintenance plan for all structural and non-structural controls to assure that they remain in good and effective operating condition. B. The Licensee should implement good housekeeping techniques to reduce contamination of storm water runoff. The Licensee should describe in detail controls for the following potential pollutants: (i) waste disposal, this may include construction debris, chemicals, litter, and sanitary waste; (ii) offsite vehicle tracking from construction entrances/exits; and (iii) the storage, application, generation and migration of all toxic substances. C. The Licensee should implement good housekeeping techniques to eliminate contamination of site from machinery oil and fluid, temporary construction bathroom facility, contaminated soil or any other contaminated material. 5 413 of 2180 13. Surrender of Staging Area/Licensee's Obligation for Restoration. Prior to expiration, or earlier termination of this Agreement, Licensee shall immediately surrender the Staging Site, remove Licensee's property from the Staging Site, and restore the Staging Site to the same condition as existed immediately prior to the Effective Date of this Agreement. Licensee's obligation to observe or perform this covenant shall survive the expiration or earlier termination of this Agreement. Continued occupancy of the Staging Site after expiration, or early termination, of the Agreement shall constitute trespass by the Licensee, and may be prosecuted as such. Additionally, the Use Fee shall continue to accrue until such time as Licensee has completely surrendered the Staging Site, removed all of Licensee's property and restored the Staging Site. 14. Construction of Agreement. The Parties to this Agreement have substantially contributed to the drafting and negotiation of this Agreement, and this Agreement shall not, solely as a matter of judicial construction, be construed more severely against one of the Parties than any other. The Parties acknowledge that they have thoroughly read this Agreement, including all exhibits and attachments hereto, and have sought and received whatever competent legal advice and counsel was necessary for them to form a full and complete understanding of all rights and obligations herein. 15. Notices. All notices and communications in writing required or permitted hereunder may be delivered personally to the representatives of Licensor and Licensee listed below or may be mailed by registered mail, postage prepaid (or airmailed if addressed to an address outside of the city of dispatch). Until changed by notice in writing, all such notices and communications shall be addressed as follows: TO LICENSEE: Florida Power & Light Company 700 Universe Boulevard Juno Beach, Florida 33408 (561) 805-2599 Attn: Ray Madison With copy to: Florida Power & Light Company 700 Universe Boulevard Juno Beach, Florida 33408 Attn: General Counsel TO LICENSOR: City of Miami Beach Parks and Recreation Director 1700 Convention Center Drive Miami Beach, Florida 33139 (305) 673-7000, Ext. 6399 With copy to: City of Miami Beach City Manager 1700 Convention Center Drive Miami Beach, Florida 33139 (305) 673-7000, Ext. 6399 16. Entire Agreement. The making, execution and delivery of this Agreement by Licensor has been induced by no representations, statements, warranties, or agreements other than those contained herein. This Agreement embodies the entire understanding of the Parties and there are 6 414 of 2180 no further or other agreements or understandings, written or oral, in effect between the Parties relating to the subject matter hereof. 17. Counterparts. This Agreement may be executed simultaneously or in counterparts, each of which together shall constitute one and the same agreement. For purposes of this Agreement, a facsimile, electronic or PDF copy shall be deemed to be an original. [Signatures appear on following page] 7 415 of 2180 EXECUTED as of the day and year first above written. Attest: Rafael E. Granado, City Clerk Date Witness Signature Print Name Signature Print Name Date LICENSOR: CITY OF MIAMI BEACH, FLORIDA, a Florida Municipal Corporation By: Name: Eric T. Carpenter Title: City Manager LICENSEE: FLORIDA POWER & LIGHT COMPANY, a Florida corporation By: Name: Title: I-] 416 of 2180 EXHIBIT "A" STAGING SITE 417 of 2180 A PARCEL OF LAND LYING IN SECTION 34, TONIVSHIP 53 SOUTH, RANGE 42 CAST, ALSO BEING A PORTION Of IH£ LANDS KNOWN AS MIAMI BEACH GOLF CLUB, FORMERLY BAYSHORE G&F COURSE PER THE BOUNDARY SURREY PREPARED BY FR AL£MAN 8 ASSOCIATES, SIGACD BY FRANK PARUAS, DATED J)NE 10, 2016, LYING AND BEING IN THE CITY OF MIAMI BEACH, MIAM1-DADE COUNTY, FLORIOA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS. - COMMENCE AT A FOUND IRON ROD (NO ID£NITFICATION) MARKING THE NORTHEAST CORNER OF LOT 13 OF THE PLAT TIRED VESUBDIVISION OF &I" 11-A ISLAND VIEW ADDITION' PER PLAT BOOK 40, PAGE Q OF THE PUBLIC RECORDS OF WAN -DADS COUNTY,• THENCE RUN S8157'34 E FOR 9242 FEET TO A FOUND MAG-NAQ (NO IDENTIFICATION) ON THE EASTERLY R1CHF-OF-WAY LINE OF NORTH MICHIGAN AVENUE (A 70 FOOT INDE PUBLIC RIGHT-OF-WAY PER PLAT BOOK 44 PAGE 12, OF THE PUBLIC RECORDS OF MIAMI-DAD£ COUNTY), SAID POINT ALSO BEING THE NORTHEEST CORNER CIF AN EASEMENT DESCRIBED IN A SKETCH PREPARED BY KC4 SK.14 0 BY 39"" HOYLE AND DATED 1112412020. AND THE POINT OF BEGINNING, • THENCE RUN ALONG SAID RIGHT-OF-WAY N317330-W FOR 10873 FEET,• PfNC£ DEPARTING SAID RIGHT-OF-WAY LINE, RUN ALONG SAID NESIERLY EASEMENT LINE THE FOLLONMVG FIVE (5) COURSES.• (1) N5841'08E FOR 4.10 FEET TO A POINT OF CURVATURE OF A 10.00 FOOT RADIUS CURVE CONCAVE TO THE SOUTH; (2) THENCE RUN EASTERLY ALONG SAID CURVC THROUGH A CENTRAL ANGLE OF 8770'27, A CHORD BEARING OF S77'38'JBT A CHORD LENGTH OF 1381 FEET, AN ARC DISTANCE OF 15.24 FEET TO A POINT OF TANGENCY- (3) THENCE RUN S335825E FOR 8534 FEET TO A POINT OF CURVATURE OF A 40.00 FOOT RADIUS CURVE CONCAVE• TO THE NEST (4) THENCE RUN SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF J27200 . A CHORD BEARING OF S175225 E A CHOP LENGTH OF 22.19 FEET, AN ARC DISTANCE OF 22.48 FEET TO A POINT OF TANGENCY,- (5) THENCE RUN S01'46 25 E FOR 19.84 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LINE OF SAID NORTH MICHIGAN AVENUE, SAID POINT ALSO BEING ON A 107.20 FOOT RADIUS NON -TANGENT CURVE CONCAVE TO THE NORTHEAST' THENCE RUN NORIHNESTFRLY ALONG SAID RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 137544, A CHORD BEARING OF N36V6 22"W, A CHORD LENGTH OF 25.07 FEET, AN ARC D!STANC£ OF 25.13 FEET TO THE POINT OF BEGINNING CONTAAIWNG 1,942 SOUAR£ FEET (0.04 ACRES) MORE OR LESS: ,SKETCH NOTES.• 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY RIGHT-OF-WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING S3173'30 E AS SHOWN ON THE FR ALEMAN & ASSOCIATE'S SURVEY, SIGNED BY FRANK PARUAS, DATED JUNE 10, 2016. 2. LANDS SHOWN HEREON WERE NOT ABSTRACTED FOR RIGHTS -OF -WAY, EASEMENTS, OWNERSHIP, ADJOVNERS OR OTHER INSTRUMENTS OF RECORD. 3. THIS SKETCH MEETS THE APPLICABLE STANDARDS OF PRACTICE" AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN RULE 5J17.050-.052, FLORIDA ADMINIVRA T1 VE CODE. N SITE NORTH WCHIGAN i A VEND 1 VICINITY MAP (NOT TO SCALE) LEGEND: —4— L8WAK PC POINTIB T OF UAPVA nW P7 ArWy T �WIA REL1fv5 BOOS P FEET salOM C IA1iCNT ® -NAll ® FOLM NAK & DW O FOU10 ATQV PIPE FgA10 AM RW EASLWENT CERTIFIED TO CITY OF MIAMI BEACH Nllkt� 1 sTRI of FLORIDA CHAD NOILTE DATE PROFESSIONAL SURVEYOR A! MAPPER LICENSE NUMBER LS 7596 NOT VALD MlWr PC 09YNAL 9(i IAW AND 94W SEAL OR AN ELECT OW SGWIRW 0' A 01090A LILEMSFD-9A?WKR AW NAPPER 4. THIS IS NOT A BOUNDARY SURVEY (SEE SHEET 2 FOR SKETCH OF DESCRIPTION) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 1 OF 2 SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION LICENSE & USE AGREEMENT LOG MD N SECMV J6 TOWSW 53 SWN RANI? 47 EAST YAY-DAOE COWY R01DA PREPARED FOR, FLORIDA POWER & LIGHT COMPANY SERVEY AND A94PPM 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 GC PHONE: (800) 581-4031 W1MN.SGCSURVEY.COM LB 7979 DATE 05i0812025 SCALE 1" = 40' DRAWN SAS 418 of 2180 FOUND NAIL do DISK TDOT R/W) FOUND I' IRON PIPE (FDO T R/W) T 1 EASTERLY PAV LINE OF NORTH MICHIGAN AVENUE CURVE TABLE CURVE LENGTH RADIUS DEL TA CHORD BEARING Cl 4.30' 7500 o0Jti7W' 4.J0• S29*44371t C2 1124' taco 05770.27" 1181' s7r a,3a!'i CJ 22 4e• 4000 03YI2170' 22' 19• s17w75'E C4 2513• 107.20 01J75'N' 210r KSLW 22"W O — \ �2 � TEMPORARY P �'! y PT CONSTRUCTIAN EASEMENT C^� (t 0. 04 AC, t I, 942 SO. FT.) POINT OF BEGINNING N: 532152 95' E9J9484.47' FOLIO 02-3234-001-0130 AL TON POINTS LLC 58137:34 FOLIO 02—J234-001-0120 POINT OF PT AL TON POINIF LLC COMMENCEMENT NORTHEAST CORNER OF LOT 13 LOT 13 PLAT BOOK 40, PAGE 12 PLAT BOOK 40, FOUND 1/2' IRON ROD (NO 10) PAGE 12 N N: 5J2165.86 , E.-939J92.95' 100, 0 20 40 1W04-40FEFT NEST LINE OF KCI FP&L EASEMENT LINE TABLE LINE BEARING LENGTH L I MJ17J70.11' 1011 7X L2 Amn10S E 410' L3 SJ3WZT 85.34' L4 Sfyd'251r IQ841 \ 20' FP&t EASEMENT PER K0 SKETCH AND OESCRIPT)AN CFN. 20210947161 BOOK 32911 PAGE 4078 \ FOLIO 02-3227-000-0100 CITY OF MIAMI BEACH J :)T VJ0' wDE R+L ` 1 --_ 10,7 CB'S>'67g• 01 30 CyaTST ,iB E O \p R SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 2 OF 2 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC TEMPORARY CONSTRUCTION S,NyEYAND MAPPM LICENSE & USE AGREE1tIENT 1001 TOWN PLAZA COURT, SUITE 1032 � GC WCAIM OW WINTER SPRINGS,FLORIDA 32708 src" 34 11711114IW 5J S W1K "VGE 42 EAST PHONE (800) 58t 403t LWI--MOE CM*rY,, FIOWA PREPARED FOR VWVW SGCSURVEY COM FLORIDA POWER &LIGHT COMPANY LB 7979 DATE 05/08/2025 SCALE 1"=40' DRAWN SAS 419 of 2180 EXHIBIT "C" LICENSE AND USE AGREEMENT THIS LICENSE AND USE AGREEMENT ("Agreement") is made effective this day of , 202_ ("Effective Date") by and between the CITY OF MIAMI BEACH, FLORIDA, a Florida municipal corporation ("City" or "Licensor'), and FLORIDA POWER & LIGHT COMPANY, a Florida corporation ("Licensee"). Licensor and Licensee may also sometimes be referred to individually as a "Party" and collectively as the "Parties". NOW, THEREFORE, and in consideration of the mutual promises, covenants, agreements, terms and conditions, herein contained, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereto do agree as follows: 1. City Manager's Designee. For purposes of administering this Agreement on behalf of the City, the City Manager's Designee shall be the Public Works Department Director, 2. Permitted Uses. Licensor hereby grants to Licensee a license to occupy and use that certain portion of the City's property as more particularly described in the sketch and legal description attached hereto as Exhibit "A" and incorporated herein by this reference ("Staging Site"), subject to all of the terms and conditions hereof. Licensee may occupy and use the Staging Sites solely for the purpose of staging construction equipment, parking construction vehicles, and storage of construction materials, including pvc pipes and cable reels, in connection with the utility undergrounding work being undertaken by the Licensee along Michigan Avenue with the Staging Site being located along the South perimeter of the Miami Beach Golf Club property, which is the subject of City of Miami Beach permit number RWP0525-13355 (hereinafter referred to as the "Project"). As a condition precedent to using the Staging Site, Licensee shall be required to install an at least six (6) foot high construction fence with windscreen around the Staging Site. Licensee shall be responsible for securing any required governmental approvals/permits from the City's Building Department in connection with the installation of the fence and the approved uses. During the term of this Agreement, Licensee shall be responsible for maintaining, repairing and replacing, as needed, the windscreen and fence in order to keep it in good repair. Licensee shall only be permitted to access the Staging Site from the public right-of-way, through an area mutually agreed upon by the parties and reflected on Exhibit "A". If at the time the parties execute this Agreement the access point has not been determined, Exhibit "A" shall be amended to include the access point once determined. 3. No Improper Use. Licensee will not use, nor suffer or permit any person to use, in any manner whatsoever, the Staging Site for any illegal use, or for any other purpose in violation of any Federal, State, County, or municipal ordinance, rule, order or regulation, or of any governmental rule or regulation now in effect or hereafter enacted or adopted. Licensee will protect, indemnify, and forever save and keep harmless the City, its officials, employees, contractors, and agents from and against damage, penalty, fine, judgment, expense or charge suffered, imposed, assessed or incurred for any violation, or breach of any law, ordinance, rule, order or regulation occasioned by any act, neglect or omission of Licensee, or any official, director, agent, contractor, or servant of Licensee arising out of Licensee's use of the Staging Site; provided, however, Licensee shall not be liable for special, punitive, or consequential damages. In the event of any violation of the terms of this Section 3 of the Agreement by Licensee, the City shall have the right to suspend the use of the Staging Site should Licensee fail to correct any such violation within seventy-two (72) hours following written notice of the nature and extent of such violation. Such suspension shall continue until the violation is cured. 4. Use Fee. Licensee shall pay the City a "Use Fee" in the amount of $457,000.00 per year. The Use Fee shall be payable in advance, on a monthly basis, in the amount of $38,083.33 420 of 2180 per month, due on the first day of each month during the term of this Agreement, with the twelfth payment being $38,083.37. The Use Fee for any partial month shall be prorated, based upon the number of days in the given month. 5. Term/Termination. A. Term. The term of this Agreement shall commence upon the date of the last Party to execute this Agreement, which shall be referenced as the "Effective Date" on page 1 (above) of this Agreement, and shall expire upon the earlier of: (a) one (1) year from the Effective Date; (b) issuance by the City's Building Department of a certificate of completion for the Project; or (c) upon written notification from Licensee that use of the Staging Site is no longer be necessary, whichever occurs first. B. Termination for Cause. If Licensee shall fail to fulfill in a timely manner, or otherwise violates, any of the covenants, agreements, or stipulations material to this Agreement, the City, through its City Manager, shall thereupon have the right to terminate this Agreement for cause after the expiration of the below notice and cure period. Prior to exercising its option to terminate for cause, the City shall notify Licensee of its violation of the particular term(s) of this Agreement and shall grant Licensee thirty (30) days to cure such default. In the event that a default is not reasonably susceptible to being cured within the thirty (30) day cure period, the Licensee shall not be considered in default if it shall, within such period, commence with due diligence and dispatch to cure such default and thereafter completes with dispatch and due diligence the curing of such default. Except with respect to remediations which may be required under Section 11(B), which may reasonably require an extended cure period, all other cure periods shall not exceed one hundred twenty (120) days from the date of written notice thereof. In the event Licensee cures any default pursuant to this subsection, it shall promptly provide the City Manager's designee with written notice of same. If such default remains uncured at the end of the cure period, the City may terminate this Agreement upon delivering written notice of termination to Licensee. Upon termination, the Parties shall be fully discharged from any and all liabilities, duties, and terms arising out of, or by virtue of, this Agreement, except those that expressly survive termination hereof including, without limitation, Sections 7, 11(B) and 13. Notwithstanding the above, Licensee shall not be relieved of liability to the City for damages sustained by the City by any breach of the Agreement by Licensee. The City, at its sole option and discretion, shall be entitled to bring any and all legal and/or equitable actions that it deems to be in its best interest in order to enforce the City's rights and remedies against Licensee. The City shall be entitled to recover all costs of such actions, including reasonable attorneys' fees; provided, however, Licensee shall not be liable for special, punitive, or consequential damages. 6. Performance Bond or Alternate Security. Prior to commencing using the Staging Site, Licensee shall furnish to the City Manager or City Manager's designee a payment and performance bond, in the sum of Fifty Thousand and 00/100 ($50,000.00) Dollars, for which Licensee shall bind itself for the faithful performance of the terms and conditions of this Agreement. A cash deposit, irrevocable letter of credit, or certificate of deposit may also suffice, as determined by the City Manager or City Manager's designee, in his/her sole and reasonable discretion. The form of the performance bond or alternate security shall be reasonably approved by the City's Chief Financial Officer. In the event that a certificate of deposit is approved, it shall be a Fifty Thousand and 00/100 ($50,000.00) Dollar one-year certificate of deposit in favor of the City, which shall be automatically renewed, the original of which shall be held by the City's Chief Financial Officer. Licensee shall be required to maintain said performance bond or alternate 2 421 of 2180 security in full force and effect throughout the term of this Agreement. Licensee shall have an affirmative duty to notify the City Manager or City Manager's designee, in writing, in the event said performance bond or alternate security lapses or otherwise expires. All interest that accrues in connection with any financial instrument or sum of money referenced above shall be the property of Licensee, except in an event of default, in which case the City shall be entitled to all interest that accrues after the date of default. 7. Indemnification. Licensee shall indemnify, hold harmless and defend the City, and its officials, directors, members, employees, contractors, agents, and servants from and against any and all actions (whether at law or inequity), claims, liabilities, losses, and expenses, including, but not limited to, attomeys' fees and costs, for personal, economic or bodily injury, wrongful death, loss of or damage to property, which may arise or be alleged to have arisen from Licensee's performance of its activities under this Agreement or use of the Staging Site. To that extent, Licensee shall pay all such claims or losses and shall pay all such costs and judgments which may issue from any lawsuit arising from such claims and losses, and shall pay all costs and attomeys' fees expended by the City in the defense of such claims and losses, including appeals; provided, however, Licensee shall not be liable for special, punitive, or consequential damages. This Section 7 shall survive the termination or earlier expiration of this Agreement. 8. Insurance. Licensee shall not commence use of the Staging Site under this Agreement until all insurance required under this section has been obtained and such insurance has been approved by the City's Risk Manager. Licensee shall carry and maintain the following insurance coverages during the term of this Agreement: A. Worker's Compensation Insurance as required by Florida, with Statutory limits and Employer's Liability Insurance limit of no less than $1,000,000 per accident for bodily injury or disease. B. Commercial General Liability Insurance on an occurrence basis, including products and completed operations, contractual liability, property damage, bodily injury and personal & advertising injury for vehicles while in the Licensee's care, custody and control with limits no less than $1,000,000 per occurrence, and $2,000,000 general aggregate. City of Miami Beach must be shown as an additional insured with respect to this coverage. C. Automobile Liability Insurance covering all owned, non -owned and hired vehicles used in connection with the work, in an amount not less than $1,000,000 combined single limit per occurrence for bodily injury and property damage. Additional Insured Status The City of Miami Beach must be covered as an additional insured with respect to liability arising out of work or operations performed by or on behalf of the Licensee. Waiver of Subrogation Licensee hereby grants to the City of Miami Beach a waiver of any right to subrogation which any insurer of the Licensee may acquire against the City of Miami Beach by virtue of the payment of any loss under such insurance. Licensee agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation, but this provision applies regardless of whether or not the City of Miami Beach has received a waiver of subrogation endorsement from the insurer. Acceptability of Insurers. The insurance must be fumished by insurance companies authorized to do business in the State of Florida. All insurance policies must be issued by companies rated no less than "A-" as to management and no less than "Class VI" as to strength by the latest edition 3 422 of 2180 of Best's Insurance Guide, published by A.M. Best Company, Oldwick New Jersey, or its equivalent. Acceptability of Insurers The insurance must be furnished by insurance companies authorized to do business in the State of Florida. All insurance policies must be issued by companies rated no less than "B+" as to management and not less than "Class VI" as to strength by the latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick, New Jersey, or its equivalent. Verification of Coverage Licensee shall provide the required insurance certificates, endorsements or applicable policy language effecting coverage required by this Section. All certificates of insurance and endorsements are to be received prior to any work commencing. However, failure to obtain the required coverage prior to the work beginning shall not waive the Licensee's obligation to provide them. Timely renewal certificates will be provided to the City as coverage renews. Licensee's insurance shall be primary and not contributory for direct claims arising out of the Agreement under the Commercial General Liability policy. In the event of an alleged claim under this Agreement, the City reserves the right, upon reasonable notice to Licensee, to examine the original or true copies of all insurance policies, including endorsements required by these specifications. Licensee agrees to permit such inspection at the offices of Licensee. Special Risks or Circumstances The City of Miami Beach reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special circumstances. Certificate Holder CITY OF MIAMI BEACH c/o INSURANCE TRACKING SERVICES 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FL 33139 Compliance with the foregoing requirements shall not relieve Licensee of his liability and obligation under this section or under any other section of this Agreement. Self -Insurance Licensee may meet the requirements in this Section 8 using any combination of primary, umbrella/excess, or self-insurance programs. Upon the request of the City, Licensee shall provide the City with written evidence of an established self-insurance program meeting the requirements of this Agreement. 9. Inspection. The City shall have the right to inspect the Staging Site (including, without limitation, Licensee's Property thereon) at any time by the City Manager's designee or by any other municipal, County, State officer, or officers of any other agency(ies) having responsibility and/or jurisdiction for inspections of such operations upon at least twenty-four hours prior written notice, except in the event of an emergency. Licensee hereby waives all claims against the City for compensation for loss or damage sustained by reason of any interference with Licensee's operations as a result of inspection by any public agency(ies) or officials, (including, without limitation, by reason of any such public agency or official in enforcing any laws, ordinances, or regulations as a result thereof), unless caused by the City's gross negligence or intentional misconduct. 10. Safety and Workmanship. Licensee shall coordinate all work to the Staging Site with the City Manager's designee in order to minimize impact on the City's operations. Licensee shall take 4 423 of 2180 all necessary and reasonable safety precautions, secure the Staging Site by appropriate construction fencing with a dust curtain, and coordinate with the City Manager's designee to assure the safety of City employees, contractors, residents, guests, invitees, visitors, and the general public at all times during the Term. Licensee shall resolve any safety or workmanship issues to the conditions reasonably mandated by the City. 11. No Dangerous Materials. A. Licensee agrees not to use or permit the storage and/or use of gasoline, fuel oils, diesel, illuminating oils, oil lamps, combustible powered electricity producing generators, turpentine, benzene, naphtha, propane, natural gas, or other similar substances, combustible materials, or explosives of any kind, or any substance or thing prohibited in the standard policies of fire insurance companies in the State of Florida, on or within the Staging Site, or on any City property and/or right of way. Notwithstanding the foregoing, Licensee shall be permitted to store construction equipment, construction vehicles, and construction materials, including pvc pipes in connection with the Project at the Staging Site. Further, for purposes of this Agreement, materials in the process of being prepared and laid out for installation, and/or equipment actively working or in the process being readied for installation of Licensee's improvements shall not be considered storage. B. Licensee shall indemnify and hold the City harmless from any loss, damage, cost, or expense of the City, including, without limitation, reasonable attorney's fees, incurred as a result of, arising from, or connected with the placement by Licensee of any "hazardous substance" or "petroleum products" on, under, in or upon the Staging Site as those terms are defined by applicable Federal and State Statute, or any environmental rules and environmental regulations promulgated thereunder; provided, however, Licensee shall have no liability in the event of the willful misconduct or gross negligence of the City, its agents, servants or employees. The provisions of this Section 11.13 shall survive the termination or earlier expiration of this Agreement. 12. Storm Water Pollution Prevention Plan. Licensee shall submit a Storm -water Pollution Prevention Plan for the Staging Site within sixty (60) days of the Effective Date. The purpose of this Plan is to reduce the potential of sediments and construction debris from entering the City's storm water system from the Licensee's construction staging activities: A. The Licensee should describe and provide indication on a site map of all erosion and sediment controls and storm water best management practices to reduce erosion, sedimentation, and storm water pollution. These controls may include silt fences, entrance/exit controls, storm drain inlet protection, and reinforced soil retaining systems. The Licensee should establish a maintenance plan for all structural and non-structural controls to assure that they remain in good and effective operating condition. B. The Licensee should implement good housekeeping techniques to reduce contamination of storm water runoff. The Licensee should describe in detail controls for the following potential pollutants: (i) waste disposal, this may include construction debris, chemicals, litter, and sanitary waste; (ii) offsite vehicle tracking from construction entrances/exits; and (iii) the storage, application, generation and migration of all toxic substances. 5 424 of 2180 C. The Licensee should implement good housekeeping techniques to eliminate contamination of site from machinery oil and fluid, temporary construction bathroom facility, contaminated soil or any other contaminated material. 13. Surrender of Staging Area/Licensee's Obligation for Restoration. Prior to expiration, or earlier termination of this Agreement, Licensee shall immediately surrender the Staging Site, remove Licensee's property from the Staging Site, and restore the Staging Site to the same condition as existed immediately prior to the Effective Date of this Agreement. Licensee's obligation to observe or perform this covenant shall survive the expiration or earlier termination of this Agreement. Continued occupancy of the Staging Site after expiration, or early termination, of the Agreement shall constitute trespass by the Licensee, and may be prosecuted as such. Additionally, the Use Fee shall continue to accrue until such time as Licensee has completely surrendered the Staging Site, removed all of Licensee's property and restored the Staging Site. 14. Construction of Agreement. The Parties to this Agreement have substantially contributed to the drafting and negotiation of this Agreement, and this Agreement shall not, solely as a matter of judicial construction, be construed more severely against one of the Parties than any other. The Parties acknowledge that they have thoroughly read this Agreement, including all exhibits and attachments hereto, and have sought and received whatever competent legal advice and counsel was necessary for them to form a full and complete understanding of all rights and obligations herein. 15. Notices. All notices and communications in writing required or permitted hereunder may be delivered personally to the representatives of Licensor and Licensee listed below or may be mailed by registered mail, postage prepaid (or airmailed if addressed to an address outside of the city of dispatch). Until changed by notice in writing, all such notices and communications shall be addressed as follows: TO LICENSEE: Florida Power & Light Company 700 Universe Boulevard Juno Beach, Florida 33408 (561) 805-2599 Attn: Ray Madison With copy to: Florida Power & Light Company 700 Universe Boulevard Juno Beach, Florida 33408 Attn: General Counsel TO LICENSOR: City of Miami Beach Parks and Recreation Director 1700 Convention Center Drive Miami Beach, Florida 33139 (305) 673-7000, Ext. 6399 With copy to: City of Miami Beach City Manager 1700 Convention Center Drive Miami Beach, Florida 33139 (305) 673-7000, Ext. 6399 6 425 of 2180 16. Entire Agreement. The making, execution and delivery of this Agreement by Licensor has been induced by no representations, statements, warranties, or agreements other than those contained herein. This Agreement embodies the entire understanding of the Parties and there are no further or other agreements or understandings, written or oral, in effect between the Parties relating to the subject matter hereof. 17. Counterparts. This Agreement may be executed simultaneously or in counterparts, each of which together shall constitute one and the same agreement. For purposes of this Agreement, a facsimile, electronic or PDF copy shall be deemed to be an original. [Signatures appear on following page] 426 of 2180 EXECUTED as of the day and year first above written. Attest: Rafael E. Granado, City Clerk Date Witness Signature LICENSOR: CITY OF MIAMI BEACH, FLORIDA, a Florida Municipal Corporation By: Name: Eric T. Carpenter Title: City Manager LICENSEE: FLORIDA POWER & LIGHT COMPANY, a Florida corporation By: Name: Print Name Title: Signature Print Name Date 11 427 of 2180 EXHIBIT "A" STAGING SITE 428 of 2180 LEGAL DESCRIPTION.• A PARCEL OF LAND LYING IN SECTION 34, TONNS41P 53 SOUTH, RANGE 42 EAST, ALSO BEING A PORnON OF THE LANDS KNOWN AS INAAN BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COARSE PER THE 6VLMIDARY SLOWY PREPARED BY FR ALEMAN & ASSOCIATES, g94ED BY FRANK PARUAS, DATED AME 10,201A LYING AND BEING IN THE CITY OF YAM BEACH, WAIT-DADE COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRWD AS FOLLOWS' COMMENCE AT A FOUND IRON ROD (NO IDEN77FICA710N) MARKING 7H£ NORTHEAST CORNER OF LOT 13 OF THE PLAT TIRED RESUBDINSION OF BLOCK 11-A ISLAND NEW ADDITION' PER PLAT BOOK 40, PAGE 12 OF THE PUBLIC RECORDS OF MIAMI-DADE CL7UNT7;, THENCE RUN 58157'34 E FOR 92.42 FEET TO FOUND MAG-NAIL (NO CEN77F1CATION) SAID PANT BEING ON THE EASTERLY RIGHT-OF-WAY LINE OF NORTH MICHIGAN AVENUE (A 70 FOOT WIDE PUBLCC RIGHT-OF-WAY PER SAID PLAT BOOK 40, PAGE 12, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY), SAID POINT ALSO BEING A POINT OF CURVATURE OF A iv..26 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST AND A CHORD BEARING 04F S45'0541 E AND A CHORD DISTANCE OF 50.79 FEET - THENCE: SOUWASIERL Y ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 2774 22' AND AN ARC DISTANCE OF 51.2E FEET TO A POINT OF NON -TANGENCY SAID POINT ALSO BEING THE SOUTHEAST CORNER OF AN EASEMENT DESCRIBED IN A SKETCH PREPARED BY KCI, SIGNED BY BENJAMI N HOLE AND DATED 1112412020, AND THE POINT OF BEGNNING, THENCE DEPARTING SAID RIGHT-OF-WAY LAV& RLN ALONG SAID EASTERLY EASEMENT LINE 801'46251Y M59 FEET TO A PANT OF A 6000 FOOT RADIUS cuRw CONCAVE TO THE WEST,• 7wNCE RUN NORTHERLY ALONG SAID CURVE AND SAID EASTERLY EASEMENT LWE THROUGH A CENTRAL ANGLE OF 024424. A 04ORD BEARING OF NO.JVB'37'W; A 044ORD LENGTH OF 2.87 FEET, AN ARC DISTANCE OF 2.87 FEET TO A POINT ON A NON -TANGENT CURVE PARALLEL TO AND 30 FEET NORTHERLY OF THE NORTHERLY RIGHT-OF-WAY UAE OF DADE BOULEVARD (A 65 FOOT WDE PUY/C RIGHT-OF-WAY PER PLAT BOOK 6, PAGE 115, OF THE PUBLIC RECORDS OF MIAY-DACE COUNTY), SAID CAARVE HAVING A 77.20 FOOT RADIUS AND BONG CONCAVE 70 THE NOR7H; THIENCE RUN EASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 78J7'17 , A CHORD BEARING OF 5815447E, A CHORD LENGTH OF 97.82 FEET, AN ARC DISTANCE OF 105.94 FEET 70 A POINT OF TANGENCY ON A LINE 30 FEET NORTHERLY OF AND PARALLEL WITH SAID RIGHT-OF-WAY LANE: THENCE CONTYVUE ALONG SAID PARALLEL LAZE N584630E 27753 FEET, nAENCE DEPARTING SAID PARALLEL LUC RUN NM'23'19W 6&21 FEET, n*W RUN N63508F 76.43 FEET - THENCE RUN N58J501F 71.31 FEET TO A POINT ON A 119.91 FOOT RADIUS NON -TANGENT CURVE CONCAVE TO TH£ NORTHWEST, THENCE NORTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 5476'09. A CHORD BEARING OF 1166W'161; A CHORD LENGTH OF 109.69 FEET AN ARC DISTANCE OF 1lJ93 FEET TO A POINT O' NON -TANGENCY, THENCE RUN N3676'30'E 79.42 FEET,• THENCE RUN N6375'0O£ 29.12 FEET,- THENCE RUN N62J1'49LF 37.54 FEET; THENCE RUN N673000£ 41.18 FEET; THENCE RUN S72J4'18E 2710 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY LINE OF NORTH MERIDIAN AWNUF (A 70 FOO7 WOE PUBLCC RIGHT-OF-WAY PER PLAT BOOK 30. PAGE 19. OF THE PUBLIC RECORDS OF MAY-DADE COUNM ]HENCE RUN ALONG SAID WESTERLY RIGHT -OF -WHY LAW S22J7'201V 96.57 FEET TO A PONT OF CURVATURE OF A 100.00 FOOT RADIUS CU9W CONCAVE 70 THE NORTHWEST,• THENCE CONTWUE SOUTHWESTERLY ALONG SAID RIGHT-OF-WAY LAVE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 3617909' A CHORD BEARING OF S4041'55'W, A CHORD LENGTH OF 6206 FEET, AN ARC DISTANCE OF 6J.10 FEET TO A POINT ON THE NORTHERLY RIGHT-OF-WAY LN£ OF SAID DADE BOULEVARD AND A POINT OF TANGENCY, THENCE RUN ALONG SAID NORTHERLY RIGHT-OF-WAY LNE SW46J0'W FOR 592.76 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY UNE AF SAID NORTH YCHIGAN AVENUE AND A POINT OF CURVATURE OF A 107.20 FOOT RADIUS CUR COACAW TO THE NORTH; THENCE RUN WESTERLY ALONG SAID EASTERLY RFGHT-OF-WAY LINE AND SAID CARVE THROUGH A CENTRAL ANGLE OF 6275J8, A CHORD BEARING OF 56959'19'W, A CHORD LENGTH OF 111.11 FEET, AN ARC DISTANCE OF 116.80 FEET TO THE POINT OF BEGINNING CONTAINING 48,717 SOUARE FEET (1.12 ACRES) UORE OR LESS N t 4 SITE NORTH A 4 i .' 17 S�l� VICINITY MAP (NOT TO SCALE) LEGEND: -4- LAVE SWAK C A%OR,%WjS PC>lf4T OF 9ALOM1IA� �lCBOCMC51FEET 4 AR,TAAEHT OALM ® AID AUG-T�Y ® Fl7UW NA[ t " C FOUID ML V WE FOIA10 ROW R00 EASEMENT SHEET INDEX.• SHEET 1: VICINITY MAP, NOTES, LEGAL DESCRIP77ON SHEETS 2-4: SKETCH Of' DESCRIP7ON CER77FIED TO CITY OF MIAMI BEACH ON nz., SKETCH NOTES-- v 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY - RIGHT-OF-WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING 53173'30'E AS SHOWN ON THE FR ALEMAN & ASSOCIATES SURVEY, 12101125 SIGNED BY FRANK PARUAS� DA TED JJN£ 10, 2016. 2. LANDS SHOWN HEREON HERE NOT ABSTRACTED FOR RIGHTS -OF -WAY, pR�S ANAL SURVEYOR & MAPPER OAIE EASEMENTS, OWNERSHIP, AD.AOINERS OR OTHER INSTRUMENTS OF RECORD. UCENSE NUMBER LS 7596 3. THIS SKETCH MEETS THE APPLICABLE 'STANDARDS OF PRACTICE' ASSET Wr VAW WITHOUT THE aA1GIVAL Si6NATLW AND RINSED SEA[ OR AN FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND aECmaW SVVAR E O' A FLOWA UMNSM ROWY rP ANp MAPPER. MAPPERS IN RULE 5J17.050-.052, FLORIDA ADMMNSTRA77W CODE. 4. THIS IS NOT A BOUNDARY SURVEY (SEE SHEETS 2-4 FOR SKETCH OF DESCRIPTION) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 1 OF 4 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC TEMPORARY CONSTRUCTION SURMAM A14PPDYU LICENSE & USE AGREEMENT 1001 TOWN PLAZA COURT, SUITE 1032 GC LWAIM LN WINTER SPRINGS, FLORIDA 32708 SFCIKIN 31, WOW W SO//K RAW 4 [AST PHONE: 800 581 4031 PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT COMPANY DATE 06/17t2025 SCALE 1" = 40' DRAWN SAS 429 of 2180 I t FOUND NAIL k DISK (FDOT R/W) FOUND I' ,'RON PIPE (FDOT R/W) CURVE TABLE CURVE LENGTH RADIUS DEL TA CHORD BEARING E1 4.J0" 7100 00317*05• 4.J0' S"144'37'f C2 31.26' 107.20 0777472' 5a79' S45V541E C3 Zar saw 00244*24' Z8r AWVIrJrW C4 la 94' 77.20 078'3rJ0- 9782 sats4's7E I I I EASTERLY R/W 20' FP&rL EASEMENT PER I LINE OF NORTH KCI SKETCH AND DESCRIPTION I i �F` MICHIGAN AVENUE CFN: 2021094716t BOOK 3291 f PACE 4078 I �r- -� TEMPORARY 1Z- \ CONSTRUCTION EASEMENT I y� (t1.12 AC, 14A717 Sa Ft) I EASTERLY LINE OF KO I FOLIO �0 2. 'J •� FP& EASEAlENT FOLIO 01-3227-000-0100 02-3234-001-0130 y� G CITY OF AI/AA/I BEACH Q AL TON POWE LLC C� I 3s E sel``LLJ �`? _ N58'46'30'E 277.53' j Fort o PC 1 U 02-3234-001-0120 i PT AL TON POINTE LLC ^ C4 i Q POINT OF COMMENCEMENT —� /j; / LOT 13 NORTHEAST CORNER OF LOT 13 PLAT BOOK 40, PLAT BOOK 40. PAGE 12 PAGE 12 FOUND 1/2" IRON ROD (NO ID) g" N.• 532165.86', E.• 939392. 95' ---�'N C7 I POINT OF BEGINNING J ., SOUTHEAST CORNER OF EASEMENT S58 46 3O W 592.76 I PREPARED BY KC! TECHNOLOGIES, INC. NORTHERLY N.• 53211706, E.•939520.44' R/W LINE OF DADE BL W. 10 P �° 40 r INCH - 40 FEEL SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 2 OF 4 LINE TABLE LINE BEARING LENGTH Lr V?',MW-W AM' SKETCH OF DESCRIPTION OF SGC ENGINEERING, LL_ C TEMPORARY CONSTRUCTION SERW,V MMEW LICENSE & USE AGREEMENT 1001 TOWN PLAZA COURT, SUITE 1032 GCLOCAL W AV WINTER RINGS, FLORIDA 32708 SECMN J4, TOWSiF W 501 N RV#a 0 EASE PHONE: 800) 581 4031 mm#-a4OE COLD TY, FLOMA PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT COMPANY DATE 06/17/2025 SCALE. 1" = 40' DRAWN. SAS 430 of 2180 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LL_ C TEMPORARY CONSTRUCTION SERW,V MMEW LICENSE & USE AGREEMENT 1001 TOWN PLAZA COURT, SUITE 1032 GCLOCAL W AV WINTER RINGS, FLORIDA 32708 SECMN J4, TOWSiF W 501 N RV#a 0 EASE PHONE: 800) 581 4031 mm#-a4OE COLD TY, FLOMA PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT COMPANY DATE 06/17/2025 SCALE. 1" = 40' DRAWN. SAS 430 of 2180 i I I I I I I I I I I I I el Lu �I �I �I I I I I I I I I FOLIO: 02- 3227- 000- 0100 CITY OF MIAMI BEACH lJ NOR THERL Y R/W LINE OF DADE & W. SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION LICENSE & USE AGREEMENT tuG RD X SECT M 34, T0WV91P 53 SOU1K "1" 42 EAST mw-OAOf C WrY fIaA PREPARED FOR FL OR/DA POWER &LIGHT P N58'35'Of T 71. Jl ' 16•�3 I I TEMPORARY CONSTRUCl10N EASEMENT (f 1.12 AC, f,fa 717 SO. FT.) 1 THIS IS NOT A SURVEY. SGC ENGINEERING. LLC SERW AM AUPMM 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE. (800) 581-4031WW W.SGCSURVEY.COM LB 7979 SHEET 3 OF 4 ig) CANY 1 DATE. 06/17/2025 SCALE: 1" = 40' DRAWN SAS 431 of 2180 a R►£ MAE AfAPVF DELTA OIC1Q0 �ARlVCa 7aWG�TPHIR.ALWIS OHaru• Naw wrwwt n axw r star 1404116w LAB' TABLE LAVE BEARAYG LENGTH u Aamwi' 21rr v hWM',Vt MAC u wr>owt a rr l! i S7mwT 97.ro' MESTERL Y R/W LINE OF - NORTH MERIDIAN AVENUE FOLIO 02-3227-000-0100 L4 CITY DF MIAMI BEACH i TEMPORARY CONSTRUCTION EASEMENT (f 1.12 AC, 148,717 50. FT.) i PT NORTHERLY R/W LINE OF DADE BL f� 5g2• � PD�a~;� 4 Vfl N 0 so 40 1 MOH - 40 FEET SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 4 OF 4 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC TEMPORARY CONSTRUCTION SEIRW AAD MUMM LICENSE & USE AGREEMENT 1001 TOWN PLAZA COURT, SUI E 1032 GC L�+W #V WINTER SPRINGS. FLORIDA 32708 SECAgY A TOWdW 53 SIVIX RANGE 42 EAST PHONE: (800} 581-4031 YAWL-Wor Cowry FiL1Q11DA PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT COMPANY DATE 06/17/2025 SCALE: 1" = 40' DRAWN SAS 432 of 2180 EXHIBIT "I)" CBRE Valuation & Advisory Services Appraisal Report MIAMI BEACH GOLF CLUB - FPL EASEMENT 1900 N. Michigan Avenue Miami Beach, Florida 33139 Prepared for: City of Miami Beach, Florida Date of Report: December 10. 2025 CBRE File No.: CB25US111339-1 cbre.com/valuation CBRE Valuation & Advisory Services CBRE 777 Brickell Ave. Ste. 1100 Miami. FL 33131 T (305)381-6472 Date of Report: December 10, 2025 Mr. John C Norris, Director CITY OF MIAMI BEACH, FLORIDA 1700 Convention Center Drive Miami Beach, Florida 33139 RE: Appraisal of: Miami Beach Golf Club - FPL Easement 1900 N. Michigan Avenue Miami Beach, Miami -Dade County, Florida CBRE File No.: CB25US111339-1 Dear Mr. Norris: At your request and authorization, CBRE Inc. has prepared an appraisal of the market value of the referenced property. Our analysis is presented in the following Appraisal Report. The subject property is a proposed 20-foot wide, 14,925-square foot perpetual, non-exclusive easement for Florida Power & Light (FPL) for installation of high -density polyethylene (HDPE) conduits to house electrical transmission cables. The proposed underground installation is expected to originate from an existing manhole north of the intersection of Michigan Avenue and Dade Boulevard, travel south to Dade Boulevard, and continue northeast along Dade Boulevard. In addition, to the permanent easement, FPL is requesting two (2) temporary construction easements comprising 1,942-SF and 48,717-SF for the staging of construction equipment and parking of construction vehicles in connection with this project. Because there are limited "arm's length comparable sales of linear strips necessary for a reasonable & supportable valuation process, we have applied the "across the fence" (ATF) valuation methodology. In theory, ATF is applicable when undevelopable sites with limited marketability can be joined to an adjacent parcel and can legally assume the adjacent parcel's highest & best use and unit value. Based on the analysis contained in the following report, the fair market value and the fair market annual rent of the proposed permanent easement area is concluded as follows: MARKET VALUE CONCLUSION - PERMANENT EASEMENT Appraisal Premise Interest Appraised Date of Value Value Contusion Fair Market Value Fee Simple Estate November 25, 2025 $2,100,000 Fair Market Annual Rent Fee Simple Estate November 25, 2025 $140,000 Fair Market Value Easement Estate November 25, 2025 $682.500 Fair Market Annual Rent Easement Estate November 25. 2025 $45.500 Compiled by CBRE 434 of 2180 CBRE Valuation & Advisory Services The fair market value and the fair market annual rent of the temporary construction easement 1 area is concluded as follows: MARKET VALUE CONCLUSION - TEMPORARY CONSTRUCTION EASEMENT 1 Fair Market Value Fee Simple Estate November 25. 2025 $270.000 Fair Market Annual Rent Fee Simple Estate November 25, 2025 $18.000 Fair Market Value Easement Estate November 25, 2025 $87,750 Fair Market Annual Rent Easement Estate November 25. 2025 $5.850 Compiled by CBRE The fair market value and the fair market annual rent of the temporary construction easement 2 area is concluded as follows: MARKET VALUE CONCLUSION - TEMPORARY CONSTRUCTION EASEMENT 2 Fair Market Value Fee Simple Estate November 25, 2025 $6.800,000 Fair Market Annual Rent Fee Simple Estate November 25, 2025 $457,000 Fair Market Value Easement Estate November 25, 2025 $2,210,000 Fair Market Annual Rent Easement Estate November 25, 2025 $148,525 Compiled by CBRE The report, in its entirety, including all assumptions and limiting conditions, is an integral part of, and inseparable from, this letter. The analyses, opinions and conclusions were developed based on, and this report has been prepared in conformance to the guidelines and recommendations set forth in the Uniform Standards of Professional Appraisal Practice (USPAP), and the requirements of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute. The intended use and user of our report are specifically identified in our report as agreed upon in our contract for services and/or reliance language found in the report. As a condition to being granted the status of an intended user, any intended user who has not entered into a written agreement with CBRE in connection with its use of our report agrees to be bound by the terms and conditions of the agreement between CBRE and the client who ordered the report. No other use or user of the report is permitted by any other party for any other purpose. Dissemination of this report by any party to any non -intended users does not extend reliance to any such party, and CBRE will not be responsible for any unauthorized use of or reliance upon the report, its conclusions or contents (or any portion thereof). It has been a pleasure to assist you in this assignment. If you have any questions concerning the analysis, or if CBRE can be of further service, please contact us. Respectfully submitted, CBRE - VALUATION & ADVISORY SERVICES Stuart Lieberman, MAI Title: VAS - Vice President Phone: (305) 381-6472 Email: Stuart. Lieberman@cbre.com Cert Gen RZ1074 435 of 2180 Certification Certification We certify to the best of our knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are our personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 4. Stuart Lieberman, MAI has provided services as an appraiser regarding the property that is the subject of this report within the three -to -five-year period immediately preceding the agreement to perform this assignment. 5. We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 6. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 8. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Uniform Standards of Professional Appraisal Practice. 9. Stuart Lieberman, MAI has made a personal inspection of the property that is the subject of this report. 10, No one provided significant real property appraisal assistance to the persons signing this certification. 1 1. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute. 12. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 13. As of the date of this report, Stuart Lieberman has completed the continuing education program for Designated Members of the Appraisal Institute. 14. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the State of Florida. l Stuart Lieberman, MAI Cert Gen RZ1074 436 of 2180 r Y �' � a „t"ar. • Ea to Allot, f • dft WI- loft- • jlMEli r ' d —do ttf i... ti'YI► 0'' h 47 sr 41 a � � r.•'L�.� � .A ^.' •, i � .. _'_` � •sir .; , .. qp rk • r.r�•'� w• -� ice: .�`•• ` � * '^ Lj�*�7� J�� . } '--•�!� ws� � fir" •;�•. ii Q .�_S'1. Aerial View � Al i " `•"'��( �� a.UZI f7�=�M!f•! - I� 0 A Photo 1 - N. Meridian Ave Looking SE Photo 2 - Dade Boulevard Looking SE t� LAW Photo 3 - Dade Blvd/Michigan Ave Intersect Photo 4 - Infrastructure In -Place r- yvowel Photo 5 - N. Michigan Ave Lookinsa West ■ Photo 6 - Infrastructure In -Place Executive Summary Executive Summary Property Name Miami Beach Golf Club - FPL Easement Location 1900 N Michigan Avenue Miami Beach. Miami -Dade County County. FL Parcel Number(s) Part of. 02-3227-000-0100 Client City of Miami Beach, Florida Highest and Best Use As If Vacant Parks & recreational uses. and government buildings and civic uses including office building, parking garage, surface parking lot. school uses & utility service provider uses As Improved Existing municipal golf course & infrastructure with potential redevelopment for a government building, school, parking and -or utility service provider uses Property Rights Appraised Fee Simple Estate & Easement Estate Date of Inspection November 25, 2025 Estimated Exposure Time 3 to 12 Months Estimated Marketing Time 3 to 12 Months Land Area - Permanent Easement 0 34 AC 14,925 SF Land Area - Temporary Construction Easement 1 0 04 AC 1.942 SF Land Area - Temporary Construction Easement 2 1 12 AC 48.717 SF Zoning GU, Government Use District Buyer Profile Municipal Government Or Utility Provider VALUATION rota/ Per SF Market Value Of Permanent Easement On November 25, 2025 Sales Comparison Approach S2.100.000 $140 70 Income Approach - Annual Market Rent S140.000 S9 38 Market Value Of Temporary Easement 1 On November 25. 2025 Sales Comparison Approach S270.000 S139 03 Income Approach - Annual Market Rent $18,000 $9 27 Market Value Of Temporary Easement 2 On November 25, 2025 Sales Comparison Approach S6.800.000 $139 58 Income Approach - Annual Market Rent S457,000 $9 38 CONCLUDED MARKET VALUES - PERMANENT EASEMENT Appraisal Premise Interest Appraised Date of Value Values Fair Market Value Fee Simple Estate November 25. 2025 $2.100,000 Fair Market Annual Rent Fee Simple Estate November 25, 2025 $140,000 Fair Market Value Easement Estate November 25. 2025 $682,500 Fair Market Annual Rent Easement Estate November 25, 2025 S45,500 CONCLUDED MARKET VALUES - TEMPORARY CONSTRUCTION EASEMENT 1 Appraisal Premise Interest Appraised Date of Value Values Fair Market Value Fee Simple Estate November 25, 2025 S270,000 Fair Market Annual Rent Fee Simple Estate November 25, 2025 $18.000 Fair Market Value Easement Estate November 25, 2025 $87.750 Fair Market Annual Rent Easement Estate November 25. 2025 $5.850 CONCLUDED MARKET VALUES - TEMPORARY CONSTRUCTION EASEMENT 2 Appraisal Premise Interest Appraised Date of Value Values Fair Market Value Fee Simple Estate November 25, 2025 $6.800,000 Fair Market Annual Rent Fee Simple Estate November 25, 2025 $457 000 Fair Market Value Easement Estate November 25 2025 $2.210,000 Fair Market Annual Rent Easement Estate November 25 2025 $148.525 Cd+pied by CeRE 439 of 2180 Executive Summary Strengths, Weaknesses, Opportunities and Threats (SWOT) Strengths/ Opportunities • The subject property is part of a municipal golf course located on a built -out, barrier island & resort community. • Real estate tax exemption from the municipal park location & ownership. • The subject property has good walkability and proximity to residential & retail land uses. • The South Florida and Miami Beach real estate market is very active as high net worth individuals, celebrities. domestic & foreign investors, hedge fund advisors, local, regional & national developers and "star" architects seek out mixed -use development opportunities for boutique hotels, retail, restaurant, entertainment & office projects. • Investor and developer interest is very robust for vacant lots and redevelopment opportunities in the submarket. Weaknesses/ Threats • Linear strip configuration. • The subject property location is impacted by climate change and sea level rise that require any future development and engineering to be at higher elevations & cost. • Commercial real estate market conditions have deteriorated at the macro level due to the significant increase in the cost of capital beginning in 2022, reducing the volume of transaction activity. Over the past few years, this has impacted price discovery and created an increase in uncertainty. • Recent tariffs implemented by the US have created global economic uncertainty. The outcome of the US tariffs, retaliatory tariffs, and global trade disruption is uncertain as of the date of value. Macro -economic conditions may change and impact the value of commercial real estate. Market Volatility Recent reductions to the Federal Funds Rate will continue to support capital markets activity by bolstering investor sentiment and reducing borrowing costs. Improved liquidity will benefit most sectors, and we expect to see continued refinancing opportunities. However, challenges persist, particularly for distressed office assets. CBRE forecasts limited cap rate compression this cycle, as long-term interest rates are expected to remain elevated. This points toward a more income -focused investment cycle that underscores the importance of strategic investment decisions and careful asset selection. Experience has shown that consumer and investor behavior can quickly change during periods of heightened volatility. Lending or investment decisions should consider the potential for a continuation of recent volatility, which may affect market conditions disproportionately, depending on asset class. It is important to note that the conclusions set out in this report are valid as at the valuation date only. Where appropriate, we recommend that the valuation is closely monitored, as we continue to track how markets respond to evolving events. 440 of 2180 Executive Summary Extraordinary Assumptions An extraordinary assumption is defined as "an assignment -specific assumption as of the effective date regarding uncertain information used in an analysis which, if found to be false, could alter the appraiser's opinions or conclusions." 1 • Our value conclusions assume stable geotechnical subsurface conditions and no environmental hazards or concerns. If there are any unstable subsurface conditions and -or environmental deficiencies or concerns, our value conclusions could be impacted, and we reserve the right to amend or revise this report accordingly The use of these extraordinary assumptions may have affected the assignment results. Hypothetical Conditions A hypothetical condition is defined as "a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results but is used for the purposes of analysis." 2 • None noted. Ownership and Property History Title to the subject property is vested to the City of Miami Beach, a municipal government. According to historical accounts, the Miami Beach Golf Course was originally opened as Bayshore Golf Course in 1923 as part of pioneering developer Carl Fisher's ambitious Alton Beach subdivision that was designed to lure wealthy winter residents from New York, Indianapolis and Detroit The following timeline ensued: • During World War 11, the U.S. Army rented the course for $1 a year as a training ground, and helmeted, rifle -toting soldiers ran through the course's palm trees amid the smoke from smoke grenades. • In 1944, Chicago investors moved to buy the course, planning to build 650 upscale homes there. However, the neighbors persuaded the city to condemn and buy the land and keep the golf course. • In 1954, the omate, Mediterranean clubhouse that Fisher had built on the course was replaced by a new one. • In 2002, the City of Miami Beach hired Arthur Hills/Steve Forrest and Associates to oversee a $10 million face-lift including re -landscaped, redesigned & refilled lakes, new irrigation system, hills & bunkers were sculptured, and the old clubhouse was demolished and replaced with a new clubhouse. • In 2011 the Inaugural South Beach International Amateur was played at Normandy Shores and Miami Beach Golf Clubs, becoming the highest ranked inaugural amateur tournament since rankings were introduced. 1 The Appraisal Foundation, USPAP, 2024 Edition (Effective January 1, 2024) z The Appraisal Foundation, USPAP, 2024 Edition (Effective January 1, 2024) 441 of 2180 Executive Summary • Fast forward to 2019 and the South Beach International Amateur has for 5 straight years been considered a major amateur event always ranking between the 5th and 8th ranked field in the world. CBRE is unaware of any arm's length ownership transfers of the property within three -to -five years of the date of appraisal. Further, the property is not reportedly being offered for sale as of the effective date of this appraisal. Exposure/Marketing Time Current appraisal guidelines require an estimate of a reasonable time period in which the subject could be brought to market and sold. This reasonable time frame can either be examined historically or prospectively. In a historical analysis, this is referred to as exposure time. Exposure time always precedes the date of value, with the underlying premise being the time a property would have been on the market prior to the date of value, such that it would sell at its appraised value as of the date of value. On a prospective basis, the term marketing time is most often used. The exposure/marketing time is a function of price, time, and use. It is not an isolated estimate of time alone. In consideration of these factors, we have analyzed the following: • exposure periods for comparable sales used in this appraisal; • exposure/marketing time information from the PwC Real Estate Investor Survey; and • the opinions of market participants. The following table presents the information derived from these sources. EXPOSURE/MARKETING TIME DATA Exposure/Mktg. (Months) Investment Type Range Average Off - Comparable Sales Data Market - 17.0 85 PwC Investor Survey (3rd Qtr. 2025) National Development Land Market 1.0 - 18.0 11.0 PwC Net Lease (3rd Qtr. 2025) National Data 1.0 - 18.0 6.6 CBRE Exposure Time Estimate 3 to 12 Months CBRE Marketing Period Estimate 3 to 12 Months Vanous Sources Compiled by CBRE 442 of 2180 Table of Contents Table of Contents Certification........ SubjectPhotographs ..»......................... »...................................................................................... ................................. ii ExecutiveSummary.......................................................................................................................................................iv Tableof Contents......................................................................».....„.....................................»...................................viii Scopeof Work .......................................... ....................... ..................................................................... „..„................. ...... 1 AreaAnalysis ........................ „......... ».......... »..»..... »..»..„.......... ».».......... „......... »..„..„..„..»..................... ............... ... 6 NeighborhoodAnalysis .....„......„ ......... »..»..„..„.»......................... »..................... »..»...... „..„..... „..„............. „..„..„.... 8 SiteAnalysis ...................... ............... ................................................................................ ............................. 12 Zoning............... »..».....„..»..»..„..„..„.„..„..........„..„.....„..»..„..„..„.»....................„...... ................ 26 .................................. Taxand Assessment Data........„ ..................... „......... „..„..»................................................ .................................. „..29 Highestand Best Use..................................................................................................................................................30 Sales Comparison Approach - Permanent Easement.......................................................................................32 Sales Comparison Approach - Temporary Easement 1....................................................................................38 SalesComparison Approach - Temporary Easement 2..„..„..„..„..„.........„..»......„.....»..»..„.............„..»..„..41 Value of Permanent & Temporary Easements ............................ ........................... ................................... 44 Income Approach - Fee Simple Fair Market Annual Rent..........„..»...........„....„..„.„..„..„..„..»................ 46 Proposed Easement Estate Fair Market Annual Rent .............. „......................... ....»........................................ 51 Assumptions and Limiting Conditions ....................... ........... ...................................................................... 52 ADDENDA A _.:;u 5ale Data Sheets B Legal Description C Client Contract Information D Oualifications 443 of 2180 Scope of Work Scope of Work This Appraisal Report is intended to comply with the real property appraisal development and reporting requirements set forth under Standards Rule 1 and 2 of USPAP. The scope of the assignment relates to the extent and manner in which research is conducted, data is gathered, and analysis is applied. Intended Use Of Report This appraisal is to be used for internal decision -making and negotiations for a proposed perpetual, non- exclusive easement and temporary construction easement agreements between the City of Miami Beach and Florida Power & Light (FPL), and no other use is permitted. Client The client is City of Miami Beach, Florida. Intended User Of Report This appraisal is to be used by City of Miami Beach, Florida. No other user(s) may rely on our report unless as specifically indicated in this report. Intended users are those who an appraiser intends will use the appraisal or review report. In other words, appraisers acknowledge at the outset of the assignment that they are developing their expert opinions for the use of the intended users they identify. Although the client provides information about the parties who may be intended users, ultimately it is the appraiser who decides who they are. This is an important point to be clear about: The client does not tell the appraiser who the intended users will be. Rather, the client tells the appraiser who the client needs the report to be speaking to, and given that information, the appraiser identifies the intended user or users. It is important to identify intended users because an appraiser's primary responsibility regarding the use of the report's opinions and conclusions is to those users. Intended users are those parties to whom an appraiser is responsible for communicating the findings in a clear and understandable manner. They are the audience. 3 Reliance Language Reliance on any reports produced by CBRE under this Agreement is extended solely to parties and entities expressly acknowledged in a signed writing by CBRE as Intended Users of the respective reports, provided that any conditions to such acknowledgement required by CBRE or hereunder have been satisfied. Parties or entities other than Intended Users who obtain a copy of the report or any portion thereof (including Client if it is not named as an Intended User), whether as a result of its direct dissemination or by any other means, may not rely upon any opinions or conclusions contained in the report or such portions thereof, and CBRE will not be responsible for any unpermitted use of the report, its conclusions or contents or have any liability in connection therewith. 3 Appraisal Institute, The Appraisal of Real Estate, 151' ed (Chicago: Appraisal Institute, 2020), 40 444 of 2180 Scope of Work Purpose of the Appraisal The purpose of this appraisal is to develop an opinion of the fair market value and fair market annual rent of the subject property permanent & temporary easements. Definition of Value The current economic definition of market value agreed upon by agencies that regulate federal financial institutions in the U.S. (and used herein) is as follows: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised, and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. ° DEFINITION OF MARKET RENT Market rent is defined in the 14th Addition of The Appraisal of Real Estate as the most probable rent that a property should bring in a competitive and open market reflecting all conditions and restrictions of the lease agreement, including permitted uses, use restrictions, expense obligations, term, concessions, renewal and purchase options, and tenant improvements (Tls). Interest Appraised The value estimated represents Fee Simple Estate and the Easement Estate as defined below: Fee Simple Estate - Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power and escheat. 5 Easement Estate — A nonpossessory (incorporeal) interest in real property conveying use, but not ownership, of a portion of that property. 6 The subject includes construction areas intended to be for temporary use and is assumed to be non- exclusive and a revocable license agreement. According to Thomson Reuters FindLaw, a license is permission from the owner to a licensee to do something on the owner's property, with the following limitations highlighted: 12 CFR, Part 34, Subpart C-Appraisals, 34 42(h). s Appraisal Institute, The Dictionary of Real Estate Appraisal, 7th ed. (Chicago: Appraisal Institute, 2022), 73. 6 The Dictionary of Real Estate Appraisal, 5th ed . Chicago Appraisal Institute, 2010.. p 246 445 of 2180 Scope of Work • A license does not always require a written agreement. • A license does not grant any interest in the property. • A license cannot be transferred. • A license is revocable. Extent to Which the Property is Identified The property is identified through the following sources: • postal address • assessor's records • legal description & sketch Extent to Which the Property is inspected #CALC! inspected the interior and exterior of the subject, as well as its surrounding environs on the effective date of appraisal. This inspection was considered adequate and is the basis for our findings. Type and Extent of the Data Researched CBRE reviewed the following: • applicable tax data • zoning requirements • flood zone status • demographics • comparable sale, listing & rental data Type and Extent of Analysis Applied CBRE, Inc. analyzed the data gathered through the use of appropriate and accepted appraisal methodology to arrive at a probable value indication via each applicable approach to value. For vacant land, the sales comparison approach has been employed for this assignment. Statement of Competency The appraisers have the appropriate knowledge, education, and experience to complete this assignment competently. 446 of 2180 Scope of Work Data Resources Utilized in the Analysis DATA SOURCES Item: Source(s): Site Data Size Legal description and proposed easement sketch provided by client Excess/Surplus Improved Data Building Area Not applicable No Bldgs. Not applicable Parking Spaces Not applicable Year Built/Developed Not applicable Economic Data Deferred Maintenance: Not applicable Building Costs: Not applicable Income Data. Market data Expense Data Market data Compiled by CBRE Appraisal Methodology In appraisal practice, an approach to value is included or omitted based on its applicability to the property type being valued and the quality and quantity of information available. Depending on a specific appraisal assignment, any of the following four methods may be used to determine the market value of the fee simple interest of land: • Sales Comparison Approach; • Income Capitalization Procedures; • Allocation; and • Extraction. The following summaries of each method are paraphrased from the text. The first is the sales comparison approach. This is a process of analyzing sales of similar, recently sold parcels in order to derive an indication of the most probable sales price (or value) of the property being appraised. The reliability of this approach is dependent upon (a) the availability of comparable sales data, (b) the verification of the sales data regarding size, price, terms of sale, among others, (c) the degree of comparability or extent of adjustment necessary for differences between the subject and the comparables, and (d) the absence of nontypical conditions affecting the sales price. This is the primary and most reliable method used to value land (if adequate data exists). The income capitalization procedures include three methods: land residual technique, ground rent capitalization, and Subdivision Development Analysis. A discussion of each of these three techniques is presented in the following paragraphs. The land residual method may be used to estimate land value when sales data on similar parcels of vacant land are lacking. This technique is based on the principle of balance and the related concept of contribution, which are concerned with equilibrium among the agents of production—i.e. labor, capital, coordination, and land. The land residual technique can be used to estimate land value when: 1) building value is known or can be accurately estimated, 2) stabilized, annual net operating income to the property is known or estimable, and 3) both building and land capitalization rates can be extracted from the market. Building value can be 447 of 2180 Scope of Work estimated for new or proposed buildings that represent the highest and best use of the property and have not yet incurred physical deterioration or functional obsolescence. The subdivision development method is used to value land when subdivision and development represent the highest and best use of the appraised parcel. In this method, an appraiser determines the number and size of lots that can be created from the appraised land physically, legally, and economically. The value of the underlying land is then estimated through a discounted cash flow analysis with revenues based on the achievable sale price of the finished product and expenses based on all costs required to complete and sell the finished product. The ground rent capitalization procedure is predicated upon the assumption that ground rents can be capitalized at an appropriate rate to indicate the market value of a site. Ground rent is paid for the right to use and occupy the land according to the terms of the ground lease; it corresponds to the value of the landowner's interest in the land. Market -derived capitalization rates are used to convert ground rent into market value. This procedure is useful when an analysis of comparable sales of leased land indicates a range of rents and reasonable support for capitalization rates can be obtained. The allocation method is typically used when sales are so rare that the value cannot be estimated by direct comparison. This method is based on the principle of balance and the related concept of contribution, which affirm that there is a normal or typical ratio of land value to property value for specific categories of real estate in specific locations. This ratio is generally more reliable when the subject property includes relatively new improvements. The allocation method does not produce conclusive value indications, but it can be used to establish land value when the number of vacant land sales is inadequate. The extraction method is a variant of the allocation method in which land value is extracted from the sale price of an improved property by deducting the contribution of the improvements, which is estimated from their depreciated costs. The remaining value represents the value of the land. Value indications derived in this way are generally unpersuasive because the assessment ratios may be unreliable and the extraction method does not reflect market considerations. Methodology Applicable to the Subject Because there are limited "arm's length" comparable sales of linear strips necessary for a reasonable & supportable valuation process, we have applied the "across the fence" (ATF) valuation methodology. In theory, ATF is applicable when undevelopable sites with limited marketability can be joined to an adjacent parcel and can legally assume the adjacent parcel's highest & best use and unit value. For the purposes of this analysis, we have utilized the sales comparison approach to estimate the market value of the subject property. We have also employed the income approach to develop an annual market rent for the subject property via a comparable rent survey and a rent multiplier method. 448 of 2180 Area Analysis Area Analysis La ttj .1T.. -« Rf _ _ rM tiYf>l`T 4 The subject is located in Miami -Dade County. Key information about the area is provided in the following tables. Population The area has a population of 2,744,751. Population has increased by 248,316 since 2010, reflecting an 3,000000 OW annual increase of 0.7%. Population is projected to 20W 2_00 00000 increase by 53,944 between 2024 and 2029, 1.500000 reflecting a 0.4% annual population growth. 1 000 WO 500 000 0 S_ ESM Sawa ESRI d—rA..OW - Dm 92025 POPULATION BY YEAR 2010 2024 2021) 449 of 2180 Area Analysis Income The area features an average household income of $115,733 and a median household income of f100000 $76,566. Over the next five years, median SKOW household income is expected to increase by "O.Ow 16.7%, or $2,556 per annum. $40DOO SM.000 SO Sy ESM Education A total of 36.4% of individuals over the age of 24 have a college degree. with 22.4% holding a bachelors degree and 14.0% holding a graduate degree. Employment Head, Cre,SOCW AatratanCe Rated Trade Construcbon Pr0VsCW*1V_1Te0 Serwas TraMP011abM^0Vareh0UWq AaommodabMT-00d Sambon MEDIAN INCOME BY YEAR 2024 2029 POPULATION BY DEGREE Bauntar's D" . Graduate D.pee . ome+ Sara ESM EducaeaW Servrces A4mn,sL")0dM"% Mg" srvcs 0111er Services (ezd Pubs Adm) Fnance+�a�uarxe Syr ESM 0% 2% 4% 6% 8% 10% 12% 14% 16% The area includes a total of 1,427,176 employees. The top three industries within the area are Health Care/Social Assistance, Retail Trade and Construction, which is a combined total of 32% of the workforce. So EM dow oDa d w Dec 9. 2023. BLS grn dowd im 0 19M CONCLUSION The economy in Miami -Dade County will continue to experience an increase in population, an increase in household income, and an increase in household values. In addition, MIA's intemational character and its high -skilled, bilingual workforce will help it exceed the U.S. in income growth over the long term. The Miami - Dade County market area is enjoying a high velocity of growth while burdened with an affordable housing crisis and the nuisance of heavy traffic congestion. 450 of 2180 Neighborhood Analysis Neighborhood Analysis wu The subject property is located along the northwest corner of North Michigan Avenue and Dade Boulevard in the South Beach submarket in the City of Miami Beach, Miami -Dade County, Florida 33140. The City of Miami Beach is a barrier island approximately one mile wide, ten miles long and extends in a north -south direction along the eastern seaboard parallel to mainland Miami -Dade County between Biscayne Bay and the Atlantic Ocean. The subject is located approximately 4 miles southeast of the Miami Central Business District (CBD). Boundaries The neighborhood boundaries are detailed as follows: North: Arthur Godfrey Road / West 41" Street South: Atlantic Ocean/Government Cut East: Atlantic Ocean/South Beach West: Biscayne Bay Land Use Land uses within the subject neighborhood consist of a wide variety of commercial and residential developments. Residential uses are largely concentrated along Michigan Avenue, Meridian Avenue and North Bay Road, with retail and office uses clustered along the Alton Road, Washington Avenue, Collins Avenue and Dade Boulevard/Venetian Causeway corridors, as well as, the pedestrian -only areas of Lincoln 451 of 2180 Neighborhood Analysis Road Mall. Hotels, condominiums, restaurants and retail are primarily concentrated along Collins Avenue and Ocean Drive with additional retail uses, nightclubs and restaurants on Washington Avenue. Residential uses in the neighborhood are primarily single family and low-rise multifamily in design and date back to the 1920's and 1930's with higher density resort hotels and residential condominium towers found along the Atlantic Ocean/beach and Biscayne Bay shorelines. The waterfront is where the large-scale. high-rise multifamily residential projects are located, including rental apartments, condominiums and hotels. Land uses in the immediate vicinity of the subject comprise mostly 1 & 2-story single family residential dwellings in the $2,500,000 to $51,000,000 +/- range including renovated and new, ground up luxury estates overlooking Biscayne Bay; and the 114.E-acre Miami Beach municipal golf course. The Miami Beach Golf Club was re -designed in 2002 by Arthur Hills/Steve Forrest and consists of 18-holes with a par of 72. It is also home to the Jim McLean Golf School, offering lessons and clinics throughout the year and a modem clubhouse with restaurant overlooking the greens. The subject location is several blocks north of the Lincoln Road Mall. The Lincoln Road pedestrian mall runs east -west from Collins Avenue to Alton Road between 16th and 17th Streets with storefronts on Lincoln Road and to a lesser extent along the side streets. Since the capital improvement project in 1996, Lincoln Road has experienced substantial changes in tenant mix, including more restaurants and sidewalk cafes, and a shift to traditional retail shopping. At the west end of the mall. Regal Cinema opened an 18-screen stadium style movie theater in 1999. This development was strongly supported by the local municipality and more recently has proved vital in attracting new -to - market and national retailers, such as Nike, Apple, Showfields, Sephora, Lululemon, Cheesecake Factory, Mila Rooftop Restaurant & Bar, Juvia Rooftop Restaurant, Chotto Matte Miami, Issabella's, Har y's Pizzeria, Osteria da Fortunata, Zara, Paris St. Germain, Habitat Hyett, Ecco, BonBonEtc, Voyage Luggage, H&M, J.Crew, Scotch & Soda, West Elm, Pottery Barn and Williams —Sonoma. According to the Lincoln Road Business Improvement District (BID), the Lincoln Road mall supports more than 300 designer boutiques, local merchants, national retail stores, and a variety of restaurants and bars. Anchoring at the east end of Lincoln Road Mall was the former New World Symphony, which was housed within the subject property, also known as the Lincoln Theatre building. Established in 1987 under the artistic direction of Michael Tilson Thomas, the New World Symphony provides an instructional program to prepare graduates of distinguished music programs for leadership positions in orchestras and ensembles around the world. The New World Symphony recently relocated to 500 17th Street, just north of the subject's Lincoln Theatre location into a Frank Gehry designed concert hall and a 7,000 square foot projection wall on which concerts, video art and films are shown free -of -charge to audiences in Soundscape, a 2.5-acre public park, designed by Dutch architectural firm West 8. Other primary influences in proximity to the Lincoln Road mall include the Miami Beach Convention Center which provides about one million square feet of exhibition space and meeting hall facilities and is rated as one of the top convention centers in the United States; the Jackie Gleason Theater of the Perfuming Arts at the intersection of Washington Avenue and 17th Street; Alton Road, a commercially oriented, north -south primary arterial street; and the aforementioned Lincoln Road Pedestrian Mall which provides retail shops, restaurants, cafes and a movie theater complex located at Lincoln Road and Alton Road. To the east is Ocean Drive, which runs parallel to the Atlantic Ocean and South Beach and is one of the area's premier attractions. The pristine beaches and warm waters of the Atlantic Ocean are to the east side of Ocean Drive, while a host of al fresco dining establishments and some of Florida's most luxurious, high -end hotels such as the Ritz -Carlton, The Delano, The Setai, The Shore Club and The Tides. 452 of 2180 Neighborhood Analysis ACCESS Overall, access to and throughout the subject neighborhood is considered good. The major east -west thoroughfares providing direct access to the subject area from the Miami mainland include the Venetian Causeway that becomes 17th Street, located immediately north of the subject; 5th Street/MacArthur Causeway (US Highway No. 41/State Road A1A), located to the south of the subject property; and Arthur Godfrey/Julia Tuttle Causeway (1-195 located approximately two (2) miles north of the subject property. The Miami Tunnel opened in 2014 to alleviate congestion from PortMiami along the MacArthur Causeway. These arteries connect South Beach to mainland Miami to the west, as well as intersect with the primary north -south arteries of Alton Road, Collins Avenue, Washington Avenue and Ocean Drive. Interstate 95 is the major north -south expressway providing direct access to Miami -Dade County, as well as points north along the eastern seaboard. Biscayne Boulevard (U.S. Highway No. 1) is a well -traveled artery providing north -south access from S.E. 3rd street in downtown Miami to the Broward County line to the north. Direct access to the subject property is provided via Washington Avenue which acts as the subject's eastern boundary line and is a two-way, two-lane, north -south city street with divided median and parallel (metered) street parking. The immediate subject area has good access via the local artery/highway network, and to the area business and commercial community. In addition to the existing access points, there is a proposal to connect Miami Beach with downtown Miami via a monorail line. The elevated monorail would include three (3) stations and run along the south side of the MacArthur Causeway. One station would be built on the Miami side of the line and close to where the causeway begins, while the other two stations would be on Miami Beach near the end of the causeway, and the other at the intersection of Washington Avenue and 5th Street. Demographics Selected neighborhood demographics in 1-, 3- and 5-mile radius from the subject are shown in the following table: 453 of 2180 Neighborhood Analysis SELECTED NEIGHBORHOOD DEMOGRAPHICS 1900 N Michigan Avenue 1 Mile 3 Mile 5 Mile 33140 - Miami Miami -Dade Miami Beach. FL 33139 Radius Radius Radius Beach Florida County Population 2029 Total Population 2024 Total Population 2010 Total Population 2000 Total Population Annual Growth 2024 - 2029 Annual Growth 2010 - 2024 Annual Growth 2000 - 2010 Households 2029 Total Households 2024 Total Households 2010 Total Households 2000 Total Households Annual Growth 2024 - 2029 Annual Growth 2010 - 2024 Annual Growth 2000 - 2010 23,586 52,701 330,881 19,687 24,297,976 2,798,695 23.625 52,830 298,927 19,807 23,027,836 2,744,751 26.251 58,293 246,976 21.901 18,801,310 2,496,435 26,828 56,746 218.506 20,110 15.982.378 2.253,362 -0.0301c -005% 2.05% -0.12% 1.08% 0.39% -0.75% -0.70% 1.37% -0.72% 1.46% 0.68% -0.22% 0.27% 1.23% 0.86% 1.64% 1.03% 13,888 29,508 168,911 9,405 9,873.376 1,046,197 13.836 29,431 149,921 9,416 9,263,074 1,008,719 15,691 33,058 116,838 10,552 7.420.802 867,352 16,099 32.296 97,752 9,773 6,337,929 776,774 0.06% 0.05% 2.41 % -0.02% 1.28•10 0. 73% -0.89% -083% 1.8001a -0.81% 1,60% 1.08% -0, 26% 0.23% 1.80% 0. 77% 1. 59% 1.11 % Income 2024 Median Household Income $84,139 $86.797 $81.171 $127.480 $78,205 $76,566 2024 Average Household Income $157,287 $181.068 $139,409 $233,338 $111,382 $115.733 2024 Per Capita Income $92,007 $100.800 $69.895 $110.938 $44,891 $42,607 2024 Pop 25+ College Graduates 11,832 25,585 120,227 10.048 6,067,063 728,554 Age 25+ Percent College Graduates - 2024 59.8% 59.6% 51.5% 67.1 % 36 0% 36.4% Source ESRI Conclusion The subject neighborhood location is mature and built -out with growth in population and households through higher density, redevelopment opportunities along the major thoroughfares and waterfront. The local demographic profile is middle -to -upper -middle -income and the overall outlook is for favorable performance over the foreseeable future. Many neighborhood improvements are renovated, historically rehabilitated and -or in good -to -excellent condition. Access to the neighborhood is good and utility services are adequate. Supporting commercial uses are good and surrounding land uses are compatible. Overall, it is our opinion that the subject neighborhood will continue to remain a very desirable area, with continued potential for appreciation. In addition, the Miami Beach submarket is a destination resort community and international "hot spot" that continues to flourish over the long term despite adverse macro -economic cycles. 454 of 2180 Site Analysis The following chart summarizes the salient characteristics of the subject site. SITE SUMMARY AND ANALYSIS Physical Description Gross Site Area - Miami Beach Golf Club Net Site Area - Permanent Easement Net Site Area - Temporary Construction Easement 1 Net Site Area - Temporary Construction Easement 2 Primary Road Frontage Additional Frontage Shape Topography Primary Traffic Counts (24 hrs.) Parcel Number(s) Zoning District Future Land Use Flood Map Panel No. & Date Flood Zone Adjacent Land Uses Site Analysis 114 64 Acres 4,993,718 Sq, Ft. 0.34 Acres 14,925 Sq, Ft 0.04 Acres 1,942 Sq. Ft. 1.12 Acres 48,717 Sq. Ft. Dade Boulevard 593 Feet Miami Beach Golf Club 593 Feet Linear strip Improved to road grade Dade Boulevard 11,000 Part of. 02-3227-000-0100 GU, Government Use District ROS, Recreation & Open Space 12086CO317L 11-Sep-09 Zone AE (EL 8 Feet) Miami Beach municipal golf course, low -to - mid -rise multi -family residential apartments and commercial retail uses Comparative Analysis wing Visibility Excellent along N. Michigan Avenue, 19th Street & Dade Blvd. Functional Utility Good for recreation & open space uses Traffic Volume Heavy commuter, neighborhood and seasonal tourist traffic Adequacy of Utilities Municipal services provided Landscaping Urban streetscape Drainage Municipal stormwater drainage system Mass Transit Miami -Dade Transit (MDT) Metrobus service & Miami Beach Trolley Utilities Provider Availobilitr Water City of Miami Beach Yes Sewer City of Miami Beach Yes Natural Gas Contract service Yes Electricity FPL Yes Telephone/Cable/Intemet AT&T land lines Yes Other Yes No Unknown Detrimental Easements X Encroachments X Deed Restrictions Public Use Reciprocal Parking Rights X Various sources compiled by CBRE 455 of 2180 Site Analysis Land Area The subject site is part of the 114.6-acre Miami Beach Golf Club and utility complex. We have relied on the preliminary legal description and site sketch provided by the client and reference in this report. Shape and Frontage The site is a 20-foot-wide linear strip running along Dade Boulevard between Meridian Avenue and N. Michigan Avenue Ingress/Egress Pedestrian and vehicular ingress/egress is available to the site via the Alton Road, North Michigan Avenue & Dade Boulevard frontage and public sidewalks and internal golf cart pathways that lead up to and abut the subject site. Street improvements include asphalt paved traffic lanes, signalized crosswalks, permit street parking, concrete curbs, gutters and sidewalks, and street lighting. Topography and Drainage The site is generally level and clear at road grade. The topography of the site is not seen as an impediment to the development of the property. Soils A soils analysis for the site has not been provided for the preparation of this appraisal. In the absence of a soils report, it is a specific assumption that the site has adequate soils to support the highest and best use. Easements and Encroachments There are no known easements or encroachments impacting the site that are considered to affect marketability or highest and best use. It is recommended that the client/reader obtain a current title policy outlining all easements and encroachments on the property, if any, prior to making a business decision. Covenants, Conditions and Restrictions There are no known covenants, conditions or restrictions impacting the site that are considered to affect marketability or highest and best use. It is recommended that the client/reader obtain a copy of the current covenants, conditions and restrictions, if any, prior to making -a business decision. Utilities and Services The site includes all municipal services, including police, fire and refuse garbage collection. All utilities are available to the site in adequate quality and quantity to service the highest and best use. Environmental Issues Although CBRE was not provided an Environmental Site Assessment (ESA), a tour of the site did not reveal any obvious issues regarding environmental contamination or adverse conditions. 456 of 2180 Site Analysis The appraiser is not qualified to detect the existence of potentially hazardous material or underground storage tanks which may be present on or near the site. The existence of hazardous materials or underground storage tanks may affect the value of the property. For this appraisal, CBRE, Inc. has specifically assumed that the property is not affected by any hazardous materials that may be present on or near the property. Conclusion The site is well located along the northwest corner of N. Michigan Avenue & Dade Boulevard. 457 of 2180 Site Analysis Permanent Easement A 040D t O< t AAO t YYAG 4T V .'.' 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SHEET 1 OF 4 SKETCH OF DESCRSr710N OF jw ffmingw uc TEMPQ ARY C&MUCTICN _ JUrOW AAD AM1FM EASEMENT rapt COURT SURE1113i ,c « TER PRIM WIt1TFJt t3PRtttOO FtORIDA 7:709 3) A.w stir =N/+ ytAtr PHONE f800rS41-4071 PREPAAMFM www SGCSURVEV cow ...._ . to 7979 `,A iiA4$ 1* + DATE 06M2025 SCALE A" = 40 DRAWN SAS 464 of 2180 Site Analysis iempurdry kunstruction casement z ----------'VWX IA&f "INV 40 W h, RAJV5 W' TA A~, v 4jr ft- fOUW NA& DISX (mor I Aw, agog �awww- -A~D*w + FOLOW I' OCR fty V, ulury "Asro"r M Ka SW 01 AAV 1"� A V-MMW_PW-FAS r- M 5119OX49 W OF- C"SF P� 0 140 MCOROW MO AKMLAAE OW ftMM RfCal&S TEMPORARY CONSMUC77ON EASrWIVr ALTOM PMT uC tr arr ar MAN WAOf Ire, 3, J4 - 27753 AL MN PONV?r uC Pawr or comAmwaywr NOR [WAS r COPY" OF i OF 13 ftAr BOOK 44 Ma 12 ram 1/2- A?av RM (NO V) I sysJU96, POWT OF BEGANM swmAsr capaim or rAsEA"r PREPARED Br KC fF0WJO( VGM IAOC W" BY WXAM NO "X. DATED 011241=0 NO REC09AM ##UVW OOV A VMA&E. N. STptzolg,. f 93952044, SKETCH OF DESCRIPTION ONLY SKETCH OFF DEOMPVOM OF TEMPORARY ij�STkICT70N F.ASEMENT ,=Or * iv 31. P. -mwvlw IV 5w, 4A.V 41 r-S aw Imw -^%*" %*W PREPAWD FOR SW*46*50*W THIS S NOT .,, 7uRVEY ENGIAOtwo, ue— SUAVY AND MV"M; 1001 TOWN PLAZA COURT surrE 1032 WWTER SPRING& FLOMDASrOb PHONE Mot W 4031 WWW SQCVURVEV COM LB 7979 SHEET 2 OF 4 DATE OUOMMS SCALE V z 40 DRAWN SAS 465 of 2180 Site Analysis Temporary Construction Easement 2 I I I I i I I N5B'35'011�• 7f.31' I i I �6� I s I rauq w- wi-000-moo MUCTM Fi4Sf�14E1V T� drr W 9" AA04 I I I I I I ti t' I SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET s of a SKETCH OF DESCRs1TIM Oc TEMPORARY CONSTRUCTION SUI&FY AND AMMAIG - EASEMENT I OW TOVM PLAZA COURT SU„TE I= cou--+C R YCX7. 1• e=wN St YVM1 +eMQ Il f�I! We Aw "Amw WHITER SPRR400 F100DA 7270E S G C PHONE MM SV 40,31 PREiaARE17 FOR WW W SW%RVEY COM LS 797V `P.4d;A G✓ & . r`.7 f ' DATE OBA8 MS SCALE 1' a W DRAWN SAS 466 of 2180 Site Analysis Site Analysis rloua ridln Md National Flood Hazard Layer FIRMette 4 t'LMA n" , S.— /865 0rtN1/ eM S 0:1 t ogwia .eMY..wY! � 018.0 erwrWrt7 O[OYl old-MM YMM.O eleewel ! 1Y enn.rr cMae rW ruesJ. ewer awn rY* en a nn a a a �w.p wY wr., e..' Y..aY• �..w •.. . eV.r.:rirra t�U..W c irr.0kw w.e.H ... WeeM YM .O.rW bl Mero 61KA.RNa r tOOp nmo &* ./ e.H eM r1..e a }w'.1.rw •. . e[es W.MY.wYOW rYwN •. [rlww lOYeh OTrf�/KA! W..tYyYYrrvMOW wYH .,... 49wwA �� CSYVr fa►Yr rerr+ — lTgr{.1liK'! • 7r� i l..w CJ•e I.baO.r1 <wr e W W wrF IY MYr f MM _Yl iso. ioE— 468 of 2180 Zoning Zoning The following chart summarizes the subject's zoning requirements. ZONING SUMMARY Current Zoning GU, Government Use District Intent d Purpose Any land or air rights owned by or leased to the city or other governmental agency for no less than an initial form of 20 years shall automatically convert to o GU government use district Uses Permitted The main permitted uses in the GU government use district are government buildings and uses, including but not limited to parking lots and garages, parks and associated parking, schools, performing arts and cultural facilities, monuments and memorials Any use not listed above shall only be approved after the city commission holds a public hearing. See subsection 142-425(s) for public notice requirements. Private Uses Private or joint government/private uses in the GU government use district, including air rights, shall be reviewed by the planning board prior to approval by the city commission. See subsection 142-425(s) for public notice requirements. Accessory Uses Accessory uses in the GU government use district are as required in section 142-903 Development Regulations (a) The development regulations (setbacks, floor area ratio, signs, parking, etc,) in the GU government use district shall be the average of the requirements contained in the surrounding zoning districts as determined by the planning and zoning director, which shall be approved by the city commission. Upon the sale of GU property, the zoning district classification shall be determined, after public hearing with notice pursuant to Florida Statutes, by the city commission in a manner consistent with the comprehensive plan Upon the (b) expiration of a lease to the city or o"r govemment agency, the district shall revert to the zoning district and its regulations in effect at the initiation of the lease (cj Setback regulations for parking lots and garages when they are the main permitted use are listed in subsection 142.1132(n). (d) Following a public hearing, the development regulations required by these land development regulations, except for the historic preservation and design review processes, may be waived by a five. sevenths vote of the city commission for developments pertaining to governmental owned or leased buildings, uses and sites which are wholly used by, open and accessible to the general public, or used by nol- for-profit, educational, or cultural organizations, or for convention center hotels, or convention center hotel accessory garages, or city utilized parking lots, provided they are continually used for such purposes. Notwithstanding the above, no GU property may be used in a manner inconsistent with the comprehensive plan. In all cases involving the use of GU property by the private sector, or joint govemment/private use, development shall conform to all development regulations in addition to all applicable sections contained in these land development regulations and shall be reviewed by the planning board prior to approval by the city commission. All such private or joint government/private uses are allowed to apply for any permittee variances and shall not be eligible to waive any regulations as described in this paragraph However, not -for - profit, educational, or cultural organizations as forth herein, shall be eligible for a city commission waiver of development regulations as described in this paragraph, except for the historic preservation and design review processes. Additionally, private uses on the GU lots fronting Collins Avenue between 79th and 87th Streets approved by the city commission for a period of less than ten years shall be eligible for a city commission waiver of the development regulations as described in this paragraph, for temporary structures only Such waivers applicable to GU lots fronting Collins Avenue between 79th and 87th Streets may include, but not be limited to, the design review process, provided the city commission, as part of the waiver process, evoluaM and considers all applicable design review requirements and criteria in chapter 118 of the land development regulations Source City of Miami Beach Planning 6 Zoning Dept 469 of 2180 Zoning ZONING SUMMARY - Continued (e) When a public hearing is required to waive development regulations before the city commission, the public notice shall be advertised in a newspaper of general paid circulation in the city at least 15 days prior to the hearing. Fifteen days prior to the public hearing date, both a description of the request and the time and place of such hearing shall be posted on the property, and notice shall also be given by mail to the owners of land lying within 375 feet of the property. A five -sevenths vote of the city commission is required to approve a waiver or use that is considered under this regulation. (f) The following regulations shall apply to the use or development of GU property by entities other than the city. 11 In all cases involving the use of GU property by the private sector, or joint govemment/private use, development shall conform to all development regulations in addition to all applicable sections contained in these land development regulations and shall be reviewed by the planning board prior to approval by the city commission All such private or joint government/private uses are allowed to apply for any permitted variances but shall not be eligible for a waiver of any regulations as described in this paragraph However, not -for -profit, educational, or cultural organizations as forth herein, shall be eligible for a city commission waiver of development regulations as described in this paragraph, except for the historic preservation and design review processes. 21 In cases involving the use of GU property by the private sector, for developments incorporating public parking spaces within the structure(a), owned by and/or operated by or for the benefit of the city, the permitted building height shall be 100 feet for those sites located within the area bounded by 1 7th Street on the north, North Lincoln Lane on the south, Alton road on the west, and Washington Avenue on the east 3) Private uses on the GU lots fronting Collins Avenue between 79th and 87th Streets approved by the city commission for a period of less than ten years shall be eligible for a city commission waiver of the development regulations, as described in this paragraph, for temporary structures only. Such waivers applicable to GU lots fronting Collins Avenue between 79th and 87th Streets may include, but not be limited to, the design review process, provided the city commission, as part of the waiver process, evaluates and considers all applicable design review requirements and criteria in chapter 118 of the land development regulations. (g) If a waiver for eligible GU property under this subsection pertains to building height, and the subject property is located within a local historic district the city commission shall first refer the proposed height waiver to the historic preservation board for the board's review and to obtain an advisory recommendation as to whether the proposed waiver should be approved or denied. The historic preservation board shall review the proposed waiver and provide an advisory recommendation within 45 days of the referral by the city commission. Notwithstanding the foregoing, the requirement set forth in this paragraph shall be deemed to have been satisfied in the event that the board fails, for any reason whatsoever, to review a proposed height waiver and/or provide a recommendation to the city commission within the 45-day period following the referral (h) When a public hearing is required to waive development regulations before the city commission, the public notice shall be advertised in a no-Woper of general paid circulation in the city at least 15 days prior to the hearing. Fifteen days prior to the public hearing dote, both a description of the request and the time and place of such hearing shall be posted on the property, and notice shall also be given by moil to the owners of land lying within 375 feet of the property. A five -sevenths vote of the city commission is required to approve a waiver or use that is considered under this regulation. Source Ctty of Memo Beam Ptannng 6 Zonog Dept Analysis and Conclusion The existing recreational, open space and proposed FPL perpetual, non-exclusive easement appear to be reasonable and conforming uses for the subject site. Additional information may be obtained from the City of Miami Beach Planning & Zoning Department. For purposes of this appraisal, CBRE has assumed the information obtained is correct. 470 of 2180 wollils Elam, F o%AL ZONING r Of OF TN! 4A CITY OF MIAMI BEACH • FLORIDA is Zoning 471 of 2180 Tax and Assessment Data Tax and Assessment Data AD VALOREM TAX INFORMATION Pro Forma Pro Fame Pro Forma Permanent Temporary Temporary Easement Easement 1 Easement 2 Parcel Assessors Parcel No. Parcel Descnptan 2024 2025 1 Part of 02.3227-000-0100 114 6-ocro municipal golf course & u4ty complo $10.624.120 $10 525 383 $2100.000 S270.000 S6.800.000 Su1>10421 $10.624,120 S10.525.383 S2,100.000 S270.000 $6.800,000 % of Assessed Value Final Assessed Value General Tax Rate (per $100 A V ) Total Taxes 4% Tax Reduction for Early Pay Discount Total Adjusted Taxes Taxes per SF Source Anessors Office 100% 100% 75% 100% 100% 10,624.120 10,525.383 $1.575.000 $270.000 S6 800.000 1879130 1876010 1.876010 1876010 1876010 Exempt Exempt $0 $0 Exempt Exempt 0,547 $6,066 3127,60 $0 SO SO f2l,647 $5,066 $127,60 The local Assessor's methodology for valuation is sales comparison approach to value. The next re- assessment of the subject was previously scheduled for January 1, 2026. If the subject were to be subdivided from the parent tract and sold off to a third party, a reassessment at that value could occur based on the "just value" statute, less cost of sale. It should also be noted that the subject property is exempt from real estate property taxes based on city government ownership. However, if the subject property were sold -off to a third -party developer or user, the exemption would be rescinded. In addition, under a ground lease scenario, the land component would remain exempt while the third -party leasehold improvements would be taxable, unless a non-profit or municipal government entity developed and operated the leasehold improvements. According to the "just value" statute for all Counties within the State of Florida, the assessment for taxation purposes, is supposed to reflect 100% of market value, less cost of sale, i. e. marketing & real estate commissions, transaction & mortgage recording fees, etc., which typically equates to 65% to 85% of a recorded sale price and/or a market value estimate. According to a representative of Miami -Dade County Revenue Collector, there are no delinquent property taxes encumbering the subject. 472 of 2180 Highest and Best Use Highest and Best Use In appraisal practice, the concept of highest and best use represents the premise upon which value is based. The four criteria the highest and best use must meet are: • legally permissible; • physically possible; • financially feasible; and • maximally productive. The highest and best use analysis of the subject is discussed below. As Vacant Legal Permissibility The legally permissible uses were discussed in the Site Analysis and Zoning Sections. Physical Possibility The subject property is a small 3,544 square foot linear strip that would be difficult to develop as a standalone property. However, an abutting user and -or developer could acquire the site and develop to a higher & better use, subject to unity of title, and benefit from the additional site area and density. Additional physically possible uses include underground & above ground utility easements, public space, storm water drainage and -or retention. Furthermore, existing residential and multi -purpose parks & recreational structures on similar sites provide additional evidence for the physical possibility of development. Financial Feasibility The determination of financial feasibility is dependent primarily on the relationship of supply and demand for the legally probable land uses versus the cost to create the uses. With respect to the legal uses for the subject property, the site location has the potential for government & civic uses including office & multi -purpose buildings, surface parking lot and parking garage uses. However, the physical constraints of the small site size limits stand-alone development. Therefore, the most obvious use is to sell to an abutting owner/user or developer or utility provider. Additional uses would be for underground & above ground utility easements, public space, storm water drainage, retention area or other commercial recreational uses that would be supportive of and relate to the existing golf course. Maximum Productivity - Conclusion The final test of highest and best use of the site as vacant is that the use be maximally productive, yielding the highest return to the land. Based on the information presented above and upon information contained in the neighborhood & site analysis sections, we conclude that the highest and best use of the subject parcel would be a commercial recreational activity that relates to the existing golf course use or sell-off to an abutting owner/user, developer or utility service provider. 473 of 2180 Highest and Best Use As Improved Legal Permissibility The site has been improved as landscaped open space in concert with the Miami Beach municipal golf course. Physical Possibility The linear corridor shape & configuration renders the site undevelopable as a standalone property. Therefore, redevelopment is physically possible, if subject site were to be assembled into a larger, developable site. Financial Feasibility & Maximum Productivity - Conclusion Based on the information presented above and upon information contained in the neighborhood & site analysis sections, we conclude that the highest and best use, as improved, is consistent with the existing use as recreational open space and buffer area for the Miami Beach golf course. Additional uses include utility easements, public space, storm water drainage or retention. 474 of 2180 Sales Comparison Approach - Permanent Easement Sales Comparison Approach - Permanent Easement The following map and table summarize the comparable data used in the valuation of the subject site for the permanent easement. A detailed description of each transaction is included in the addenda. } i MI 475 of 2180 Sales Comparison Approach - Permanent Easement SUMMARY OF COWARAMILE LAW SAM • PERMAMIWT EASEIM W Transaction Actual Sde Adjusted Sale size Size Prfu No. Property Location Type Oats Proposal Use Price Price' (Acres) (SF) Per sF 1 Pennsytvarne To nhW*S Sale Ju623 Tovnhomes $1 125000 $1.125.000 0 16 7000 $160 71 1020 Perutsytvanta Avenue AMamrBeecn FL 33119 2 1425 Bay Road TowMomes sale Sep-23 Urban towrMwmes $6,295,000 $6.295 000 039 16104 S372 40 1425 Bay Road M wni Beach. FL 33139 3 T729 Caryl% Avenue sale Oct-23 Urban tbwnnurnes $925,000 $925 000 013 5.625 $164 44 T729 Cerlyl! Avenue Mienl Beady, FL 33141 4 Vila 17 Sate Nov-23 Urban vslas $4.350.000 $4.350.000 052 22,454 $193 73 1709 Jefferson Avenue M1am4 Beach, FL 33139 5 1440 Michigan Avenue sale Aug-24 Mum -family rental spartrnants $5.250,000 $5,250.000 053 23.040 $227 86 1440 Michigan Avenue Miami Beech. FL 33139 6 1240 71 st Street sale Apr-25 TBO $750.000 $750,000 016 7.087 S105 83 1240 71 st Street Miami Beach, FL 33141 7 Sunset House sale Sep-25 Mixed -use relad. Mace 8 residential S4,250.000 $4 250,000 0.37 16.000 $265.63 1840 Alton Road Miami Beech FL 33139 8 1101 71st Street Sale Nov-25 AfkxGsds housing S5.900 000 $5.900.000 043 18,614 $316 97 1101 71 st Street Mom Beech. FL 33141 Subl 1900 N Michigan Avenue -- -- Perks a recree6onal uses. and -- -- 0.34 14,925 — Mftami Beach. FL 33139 9ovemmenl bu*WVs and aw uses Including Mike building, parking 9an9e. surface Parklq tot, scrod uses 8 uWy sarvrce provider uses Adruv" sale pnce b cah ow.slsrcV arnd'ar d wpn;ant coats (rim* apphccAb* r C 10"d by CBR£ The sales utilized represent the best data available for comparison with the subject and were selected from the greater Miami Beach market area. These sales were chosen based primarily on recent sale transaction dates, location, low intensity zoning/density, office, school, parking lot and -or municipal government end uses. Discussion/Analysis of Land Sales We have considered similarities and differences for each of the comparable land sales in direct comparison to the subject site, as vacant and available to be put to its highest & best use. We have also considered and -or applied adjustments to the comparable sales for differences in favorable financing terms, conditions of sale, i.e. seller motivations, distress and/or assemblage premiums, market conditions (time), sizetvalue, shape/configuration, corner influence, frontage/access, topography/site conditions, location, view corridors and zoning/density in comparison to the subject property. Land Sale One This comparable land sale is located along the west side of Pennsylvania Avenue, just north of 10th Street in the Flamingo Park Historic District in the South beach submarket in the City of Miami Beach, Florida. The seller purchased the property in September 2013 for $1,000,000 and demolished the prior obsolete structures in 2014. The current buyer/developer submitted an application in April 2025 to the Planning Department for development of three (3), 3-story urban townhomes. We adjusted Land Sale 1 downwards for superior location in comparison to the subject property. 476 of 2180 Sales Comparison Approach - Permanent Easement Land Sale Two This comparable land sale is a two-part assemblage of three (3) single family residential lots located along the east side of Bay Road from Flamingo Way south to 14th Terrace in the West Bayfront Overlay District in the South Beach submarket in the City of Miami Beach, Florida. All three (3) lots are zoned RM-1 with a maximum 1.25 FAR. Lot 12 in Block 79 of the Alton Beach Bay Front subdivision at the comer of Bay Road & 14th Terrace was previously purchased in May 2022 for $2.150,000 and cleared for development of a 3-unit townhome development. However, Lots 1 & 2 in Block 79 were purchased in May 2023 by another developer for $1.800,000 each and then acquired Lot 1 for $2,695,000 in September 2023 and secured approvals for a total of 10, 4-story townhomes with 3-bedrooms, 3.5 bathrooms and 2-car garages. The buyer/developer demolished two (2) vintage 1940's single family dwellings on Lots 1 & 2 and is redeveloping the entire site with eco-resilient buildings featuring rooftop solar arrays, 2,480-square-feet of gross area per unit, saltwater resilient landscaping, a rainwater retention system for irrigation, insulation & energy efficiency, nontoxic materials and automated ventilations and expected to achieve LEED Gold and WELL certified. We adjusted Land Sale 2 downwards for superior location in comparison to the subject property Land Sale Three This is the sale of a 0.13-acre site located at 7729 Carlyle Avenue in the City of Miami Beach, Miami -Dade County, Florida. The property was improved with a 2BR/1 BA single-family residence with 713 SF. It was built during 1936 and considered to have no contributory value. The seller purchased the property in October 2022 for $670,000 and re -listed it at $950.000. It sold for $925,000 and was facilitated with a $450,000 purchase money mortgage. The buyer/developer is proposing a 6-unit townhome development with 4-stories, covered parking, 2-bedroom / 2-bath floor plans and rooftop terraces. Units will range from 1,074 to 1,194 square feet of air-conditioned living area. No adjustments warranted for Land Sale 3 in comparison to the subject property. Land Sale Four This comparable land sale is located along the northeast corner of Jefferson Avenue and 10th Street in the South Beach submarket in the City of Miami Beach, Florida. The site is improved as a surface parking lot and was previously acquired in August 2021 as part of the 1688 Meridian office building acquisition that is situated across the street to the south of this lot. The buyer/developer submitted a site plan application for a 10-unit townhome/villa development featuring 4-stories plus balconies and rooftop terraces, 2-car garages and 4-bedroom / 4-bath floor plans. We adjusted Land Sale 4 downwards for superior location in comparison to the subject property. Land Sale Five This comparable land site is located at 1440 Michigan Avenue in the South Beach submarket in the City of Miami Beach, Florida. This location is just south of 15th Street, a well travelled collector road that connects Alton Road to Collins Avenue and Ocean Drive. The site was historically owned & occupied by AT&T and was improved with a surface parking lot with 25-spaces, perimeter wall & rolling gates and a 456-SF office pod. The north half of the site fronting 15th Street was previously sold -off to Shoma Homes who developed urban townhomes, while AT&T retained the south half. The seller acquired the south half of the AT&T property in November 2021 for $1,975,000 in an "all cash" sale transaction and decided to re -list it "for sale" in Q1 2023 at an asking price of $6,999,999 or $303.82-PSF. The current buyer/developer has a site plan submittal for a multi -family rental project with 3-stories, 23-units and covered parking. The unit mix is for 477 of 2180 Sales Comparison Approach - Permanent Easement one, two & three bedroom floor plans and 620 to 1,400 square feet of living area for a total of 23,690-SF of FAR. We adjusted Land Sale 5 downwards for superior location in comparison to the subject property. Land Sale Six This is the sale of a 0.16-acre vacant lot located at the southeast comer of 71st Street and Rue Notre Dame in the Normandy Isle submarket in the City of Miami Beach, Miami -Dade County, Florida. The site is vacant and in buildable condition. It is zoned RO, residential/office district that is designed to accommodate an office corridor or development compatible with the scale of surrounding residential neighborhoods and designed to maintain a residential character with a maximum floor -area -ratio of 0.75 and a maximum height of 33-feet. The property transferred in April 2025 for $750,000 in an "all cash" sale transaction, which equates to $105.83/SF of land area. This was an arm's length transaction. No adjustments warranted for Land Sale 6 in comparison to the subject property. Land Sale Seven This comparable land sale is an operating service station located along the west side of Alton Road, just north of Dade Boulevard in the South Beach submarket in the City of Miami Beach, Florida. The buyer/developer is proposing a 4-story, mixed -use retail, office & residential building redevelopment with 31,996-SF of rentable FAR and 67,641-SF of gross building area including structured parking with EV charging stations. The seller is a long term owner and the buyer facilitated the transaction with a $4,500,000 third party loan with a 2-year balloon. The new project will feature ground level retail/restaurant, high quality office space, a top floor live -work residential unit with terrace, pocket gardens, 16-foot ceilings and floor -to - ceiling glass. We adjusted Land Sale 7 downwards for superior location and superior zoning/density in comparison to the subject property. Land Sale Eight This comparable land sale is a former Chase branch bank located along the north side of 71st Street on Normandy Isle in the City of Miami Beach, Florida. The seller acquired the property in April 2001 for $600,000 as improved with a 1,136-SF bank building that dates back to 1981. The City of Miami Beach paid "all cash" for the site and has plans to issue an development RFQ for a 235-foot, 98-unit residential tower for tenants earning up to 80 percent of the area median income (AMI). The proposed development is based on density & height incentives under the Live Local Act. The Live Local Act allows the development to exceed local height and density zoning regulations to build multifamily on commercial -zoned sites without a public hearing, as long as at least 40% of the units are workforce housing. We adjusted Land Sale 8 downwards for superior zoning/density in comparison to the subject property. Summary of Adjustments Based on our comparative analysis, the following chart summarizes the adjustments warranted to each comparable. 478 of 2180 Sales Comparison Approach - Permanent Easement LAND SALES ADJUSTMENT GRID - PERMANENT EASEMENT Con cable Nunber 1 2 3 4 5 6 7 8 %kled Trarsacom Type Sale Sale Sale safe Sae sale Sae safe — Trensacom Dale AiZ3 Sep-23 Oct-23 Nov-23 Aap-24 Apr-25 SW25 Na-25 — Proposed Use TOM*07 s Urban Urban Urban ,nibs yul 4w* T'BD kk,ed-aase Affordable Parks d •easaeaW uses 17-rAornes to-rolmes renal Mai. alke d 11-9 and gavenvr*N brMdrgs apertrr-ts resrderrbal and am uses ndudrg olke buide9. Prkng Ovalle surface Pff" lot, sdad uses d UON sennot provrdr an Acker Sale Pnce 51 125,000 $6.295 000 $925 000 $4.350 000 65 250.000 $750-ODD 14 250 ODD $5 9D0.000 -- A41AWSale Pnce, $1,125000 $6295,000 90000 $4350.000 S5250000 S750000 $4.250000 $5900000 LL- Size (Acres ) 016 039 013 052 053 016 037 043 0 34 Sae USF) 7,000 16 904 5 625 22454 23040 7,067 16,000 18,614 14.925 Density (UPA) 37 3 dulac 25 8 &ac 46 5 &&c 19 4 chat 43 5 dWac — — 229 4 dWac Alma* Urea 6 Urva 10 WAS 6 U rVa 10 Urnts 23 Ured — — 98 Unis Allowable BWg Area (SF) 8 750 SF 21 13D SF 6,980 SF 28.067 SF 23.690 SF 5.315 SF 31,996 SF 115 7% SF -- kxkakd FAR 125 125 124 125 103 0 75 2 00 622 — Pnce Per SF S160.71 $372 40 $164 44 $193.73 =7 86 $105.93 S265 63 $316 97 — Pnce Per Bldg Area $128 57 $297 92 $132 52 $154 99 S22161 $141 11 $132.83 $50 95 -- Pnoe Per Lim $187 500 5629,500 St k %7 $435 000 $228261 — — $60.204 -- Pnce (S PSF) $160 71 $372 40 S164 M $193 73 SW 86 $105 83 $265 63 $316 97 Pnowty R#ft Conveyed 0% 0% 0% 0% 0% 0% 0% D% Fffww g Tom' 0% 0% 0% 0% 0% 0% 0% 0% con4i♦a1s Of sale 0% 0% 0% 0% 0% D% D% 0% Market Candbons jrwe 0% 0% 0% 0% 0% 0% 0% 0% Subtotal $160 71 $372 40 1164 44 $193 73 1227 86 $105 93 5265 63 $316.97 Size 0% 0% 0% 0% 0% 0% 0% 0% Sl"We 0% 0% 0% 0% 0% 0% 0% 0% cow D% 0% 0% 0% 0% 0% 0% 0% Frontage 0% 0% 0% 0% 0% 0% 0% 0% Thy D% 0% 0% 0% 0% 0% 0% 0% Loabon -10% -25% 0% -10% -10% 0% -10% D% Zorr0-0ty D% 0% 0% 0% 0% 0% -30% -30% UNION 0% 0% 0% 0% 0% 0% 0% 0% Ngtest d Best the 0% D% 0% 0% 0% 0% 0% 0% Total Oew Adjuskrents -10% -25% 0% -10% .10% 0% 40% -30% Vm" bldea0on for Subject 61"64 S27l.30 S11"Adt $17436 S20SA7 5105M $119.38 SZt ,W Abwk* Adj A"W 10% 25% 0% 10% 10% 0% 40% 30% Aqiged sa4 prce to can eq riafency ndor devepo n acts (»here Wpkable) Carpeed ty C8RE Conclusion The comparables sales presented produced an overall unadjusted value indicator range from $105.83 to $372.40 per square foot of site area. After adjustments were applied for property rights conveyed, conditions of sale, i-e. distress, discount or assemblage premium, market conditions (time), size, comer or frontage influence, topography/site conditions, location and zoning/density when compared to the subject property, the range of value indicators was narrowed to $105.83 to $279.30 per square foot of site area. Based on the preceding presentation & analysis, Comparables 1, 3, 4 & 6 were the most representative of the subject site, and warranted greatest consideration because of buyer/seller motivations, recent sale transaction dates, size, location and zoning/density. In conclusion, a price per square foot of site area within the overall unadjusted range and narrow adjusted range were most appropriate for valuing the fee simple interest in the subject property permanent easement area, calculated as follows: 479 of 2180 Sales Comparison Approach - Permanent Easement CONCLUDED LAND VALUE FOR PERMANENT EASEMENT $ PSF Subject SF Total $105.00 x 14,925 = $1,567,125 $175.00 x 14,925 = $2,611,875 Indicated Value: $2,100,000 Rounded $2,100,000 (Concluded Value $ PSF) $140.70 Compiled by CBRE 480 of 2180 Sales Comparison Approach - Temporary Easement 1 Sales Comparison Approach - Temporary Easement 1 The following table summarizes the comparable data used in the valuation of the subject site for the temporary construction easement 1 and the process parallels the preceding section. A detailed description of each transaction is included in the addenda. SUMMARY OF COMPARABLE LAND SALES • TEMPORARY CONSTRUCTION EASEMENT 1 Transaction Actual Sale AdjuMad Sale SW Sift Price No. Property Location Type Date Proposed Use Price Price (A—) (SF) Per SF 1 Pennsylvania Tpnrlhomes Sale Jut- 3 Tow !-,orr*s $1.125.WC S1 125.000 016 7 000 S160 71 1020 Pennsylvania Avenue Mtarra Beach FL 33139 2 1425 Bay Road TowMgmes Sale Sep-23 Urban towTx routes S6295 000 $6 295 000 039 16,904 S372 40 1425 Bay Road Myrrh Beach FL 33139 3 7729 Carlyie Avenue Sale Oct-23 Urban m+vrinorrtes $925 000 S925,000 013 5.625 $164 44 7729 Carlyle Avenue Miam Beach. FL 33141 4 Vela 17 sale Nov-23 Urban vMas $4,350.000 S4 350,000 0 52 22 454 $193 73 1709 JERErSOn Avenue! Mym Beach FL 33139 5 1440 Mrchgan Avenue sale Au¢24 Multi -tamely rental aparbnents S5 250.000 S5.250 000 0.53 23.040 =7 86 1"0 Archgan Avenue Myrtk Beach. FL 33139 6 1240 71st Street Sale Apr-25 TBD $750,000 $750 000 016 7,087 $105 83 1240 71st street Miam Beards. FL 33141 7 sunset House Sale Sep-25 b6aed-use retail. office 6 res4ential $4.250.000 $4 250 000 037 16.000 $265 63 1"0 Alton Road Miam Beach. FL 33139 8 1101 71st Street Sale Nov-25 Affordable housing $5,900.000 S5.960.000 043 18.614 $316 97 1101 71 st Sheet Miam Beach.. FL 33141 Subl 1900 N Michigan Avenue -- Parks b recreational uses and --- — 0 04 1 942 --- Miam Beach. FL 33139 government buildings and civic uses trvdudmg office building, parking garage surfs" parking lot schod uses 6 utility service provider uses Adrysted sak Vu for cash eqK a(ency wd a dwebpmem costs (where appMcab41 Co paed by CBRE The sales utilized represent the best data available for comparison with the subject and were selected from the greater Miami Beach market area. These sales were chosen based primarily on recent sale transaction dates, location, low intensity zoning/density, office, school, parking lot and -or municipal government end uses. Discussion/Analysis of Land Sales We have considered similarities and differences for each of the comparable land sales in direct comparison to the subject site, as vacant and available to be put to its highest & best use. We have also considered and -or applied adjustments to the comparable sales for differences in favorable financing terms, conditions of sale, i.e. seller motivations, distress and/or assemblage premiums, market conditions (time), size/value, shape/configuration, comer influence, frontage/access, topography/site conditions, location, view corridors and zoning/density in comparison to the subject property. 481 of 2180 Sales Comparison Approach - Temporary Easement 1 Summary of Adjustments Based on our comparative analysis, the following chart summarizes the adjustments warranted to each comparable. LAND SALES ADJUSTMENT GRID • TEMPORARY CONSTRUCTION EASEMENT 1 Conrparade Number 1 2 3 4 5 6 7 8 Transacbw Type Sale Safe Seat Sere sate sale Safe sate TrarnacWn Dab Ak23 SOP-23 OCt-23 Nov-23 Aug-24 Apr-25 Sep-25 Nov-25 Proposed Use Townhomas Urban Urban Urban vlbs mum-forwy T8D Aftsd a Aftdabb bvrrWorrles 07.1earnes rW'W apartnerrts reW al8ce8 ItWWV resKler" sutrect Parks 8 reVeabOrW uses ana gpvemrlma buidags and awc uses ndudng ofce tnradrg. par" 9-or uxfarx Par" kA %U uses 8 UWy serHee Prowler uses AC%W Sale Pnoe 21 125.000 56.295.000 SM,DD0 $4.350.000 $5250.000 $750,000 S4.250.000 $5.900.000 — A*AW Sao Pnce $1. 125,000 $6 295.000 $925 000 $4.350.000 $5.250 ODD $750000 $4,250,000 $5,900.000 — Srze [Acres, 016 039 013 052 053 0.16 0.37 043 004 See (SF) 7000 16904 5625 22.454 23,040 7.007 16000 18614 1,942 Dens4y (UPAI 37.3 da'ac 25 8 dwac 46 5 dwac 19 4 C WaC 43.5 dWeC -- — 2294 dWaC -- ASowabb Una 6 tJnas 10 Unds 6 Urea 10 Unft 23 Urab — — 96 Unas — ABw+abb Bqg Area (SF) 8.750 SF 21,130 SF 6.980 SF 28.067 Sr 23,690 SF 5,315 SF 31.996 SF 115,795 SF — 1ndPcabd FAR 125 125 1 24 125 103 075 200 622 — Price Per SF $16071 $372.40 $16444 $19313 =786 $10581 $26563 $316.97 --- Pnce Per Bldg Area $128 57 $297 92 $132 52 $154 99 S221 61 S141 11 $132 83 S90 95 — Pnce (S PSFr S167 SW 5629.506 $154,167 $435.000 S228261 — — $60204 — Pnce (S PSF) $160 71 s3T2eo f164 M 519173 5227 86 S105 83 5265 63 S316 97 Prop" R*As Cpmeyed 0% 0% 0% 0% 0% 0% 0% 0% Frlarlarg Terms' 0% 0% 0% 0% 0% 0% 0% 0% condlborls of sae 0% 0% 0% 0% 0% 0% 0% 0% Market Condnwrn 0% 0% 0% 0% 0% 0% 0% 0% subtotal 5160 71 937240 S164 44 $193 73 $227 86 $105 83 $265 63 $316 97 swe D% 0% 0% 0% 0% 0% 0% 0% shape 0% 0% 0% 0% 0% 0% 0% 0% ContLr 0% 0% 0% 0% 0% 0% 0% 0% Frontage 0% 0% 0% 0% 0% 0% 0% 0% Topogr wry 0% 0% 0% 0% 0% 0% 0% 0% Locabon 40% -2514 0% -10% .10% 0% -10% 0% Zor-9`0- y 0% 0% 0% 0% 0% 0% -30% -30% L1MIOes 0% 0% 0% 0% 0% a% Or% 0% Highest t Best Use 0% 0% 0% 0% 0% 0% 0% 0% Total Oerer A*rsbrents -10% 25i 0% -1014 -10% 0% -40% -30% Vak» MdlcaMm for Surgact S144.64 $279.30 S164.44 S17t.38 $me? $105.43 $150.36 $221.88 Absofula A,*ustr.wnt 70% 25% 0% 10% 10% 0% 40% 30% AdAo ad sale wwe W own gL wencW andW dMrapn oar male (.4rara appb awe i C— Vrad by CBRE Conclusion The comparables sales presented produced an overall unadjusted value indicator range from $105.83 to $372.40 per square foot of site area. After adjustments were applied for property rights conveyed, conditions of sale, i.e. distress, discount or assemblage premium, market conditions (time), size, comer or frontage influence, topography/site conditions, location and zoning/density when compared to the subject property, the range of value indicators was narrowed to $105.83 to $279.30 per square foot of site area. Based on the preceding presentation & analysis, Comparables 1, 3, 4 & 6 were the most representative of the subject site, and warranted greatest consideration because of buyer/seller motivations, recent sale transaction dates, size, location and zoning/density. In conclusion, a price per square foot of site area within the overall unadjusted range and narrow adjusted range were most appropriate for valuing the fee simple interest in the subject property temporary construction easement 1 area, calculated as follows: 482 of 2180 Sales Comparison Approach - Temporary Easement 1 CONCLUDED LAND VALUE FOR TEMPORARY EASEMENT 1 $ PSF Subject SF Total $105.00 x 1,942 = $203,910 $175.00 x 1,942 = $339,850 Indicated Value: $270,000 Rounded $270,000 (Concluded Value $ PSF) $139.03 Compiled by CBRE 483 of 2180 Sales Comparison Approach - Temporary Easement 2 Sales Comparison Approach - Temporary Easement 2 The following table summarizes the comparable data used in the valuation of the subject site for the temporary construction easement 2 and the process parallels the preceding section. A detailed description of each transaction is included in the addenda. SUMMARY OF COMPARABLE LAND SALES - TEMPORARY CONSTRUCTION EASEMENT 2 Transaction Actual Sale Adjusted Sale Size Size Price No. Property Location Type Date Proposed Use Price Price' (Acres) (SF) Per SF 1 Pennsylvania Townhomes Sale Jul-23 To —homes S1 125 000 S1 125.000 0.16 7,000 $160.71 1020 PmnsyNama Avenue Muni Beach. FL 33139 2 1425 Say Road Townhomes Sale Sep-23 Urban townhomes $6.295,000 $6.295.000 0.39 16.904 $372 40 1425 Bay Road Miami Beach. FL 33139 3 7729 Caryle Avenue Sale Oct-23 Urban tavnhomes $925.000 $925.000 0 13 5,625 S 164 44 T729 Cartyle Avenue Miami Beach, FL 33141 4 V41a 17 Sale Nov-23 Urban villas $4,350.000 54.350,0D0 0.52 22,454 $193 73 1709 Jefferson Avenue Miami Beach, FL 33139 5 1440 Michigan Avenue safe Aug-24 Mulb-family rental apartments $5.250.000 $5.250.000 0.53 23 040 $227 86 1440 Michigan Avenue Miami Beach, FL 33139 6 1240 71st Street Sale Apr-25 TBD 5750.000 $750,000 0.16 7,087 $105.83 1240 71 st Street Miami Beach, FL 33141 7 Sunset House Sate Sep-25 Mixed -use retail, office S residential $4.250,000 $4.250.000 037 16.000 $265 63 1840 Aeon Road Miami Beach, FL 33139 8 1101 71st Street Sale Nov-25 Affordable housing 55.900,000 S5.9DO.000 043 18,614 $316 97 1101 71 st Street Miami Beach. FL 33141 Subj 1900 N. Michigan Avenue — -- Parks d recreational uses. and — — 1 12 48,717 — Miami Beach. FL 33139 government buildings and civic uses including office building, parking garage. surface parking lot, school uses a utility service provider uses Aqusted sage pnoe fur cash epuuvaier" and'or dev knxr,ent costs iwhere applicable) Co,n try CORE The sales utilized represent the best data available for comparison with the subject and were selected from the greater Miami Beach market area. These sales were chosen based primarily on recent sale transaction dates, location, low intensity zoning/density, office, school, parking lot and -or municipal government end uses. Discussion/Analysis of Land Sales We have considered similarities and differences for each of the comparable land sales in direct comparison to the subject site, as vacant and available to be put to its highest 8 best use. We have also considered and -or applied adjustments to the comparable sales for differences in favorable financing terms, conditions of sale, i.e. seller motivations, distress and/or assemblage premiums, market conditions (time), size/value, shape/configuration, corner influence, frontage/access, topography/site conditions, location, view corridors and zoning/density in comparison to the subject property. 484 of 2180 Sales Comparison Approach - Temporary Easement 2 Summary of Adjustments Based on our comparative analysis, the following chart summarizes the adjustments warranted to each comparable. LAND SALES ADJUSTMENT GRID - TEMPORARY CONSTRUCTION EASEMENT 2 Cargaao:e Nvltla 1 2 3 4 5 6 7 8 $fit Transaction Type Safe Sala sale sale Sale Sale Sale Transaction Dame .Ad-23 Sep-23 Ort-23 Nov-23 Aug-24 AP-25 Sep-25 Nov-25 _- Propoted Use Ta—vnm+es Urban Lxban Lrban Was %&A-hmay TRO Mu ed-use AftnWiie Prks a reaeaporW 1o.rttames W-rownes rental ratat, oAoe a ttousng uses and yovernmert Actual Sale Pnce $1.125 000 $6 2" 000 $925 000 S4 350 000 $S 250.000 5750.000 $4.250,000 $5,900.000 AdpMed Sale Pnce' Sl.125,DD0 $6.295.000 S925000 S4350000 $5.250.DD0 $750000 $4.250.000 $5,900.ODD Slav tAcres) 016 039 013 0 52 0.53 016 0 37 043 Stm (SF) 7.000 16.904 5.625 22.454 23,040 7.087 16.000 18.614 Density (UPA) 37 3 dulac 25 8 dwac 46 5 dwaC 19 4 dwac 43 5 dwac --- — 229 4 dwaC A&D.A a Units 6 Urvts 10 Unds 6 Units 10 Units 23 Unds — — 98 Units AWwapte Bldg Area (SF) 8.750 SF 21.130 SF 6.980 SF 28.D67 SF 23 690 SF 5.315 SF 31 996 SF 115.795 SF N0cated FAR 125 125 124 125 103 075 200 622 Pnce Per SF $160 71 $372 40 $164 44 $193 73 $227 86 SID5 83 $265 63 $316 97 Pnoe Per Bldg Area $128 57 S297 92 $132 52 $154 99 5221 61 $141 11 $132 W SW 95 Pnee ($ PSF) S187.5m $629.5W $154 167 $435.DD0 S228 261 -- — S60 204 Pr" (S PSF) $160 71 $372 40 S164 44 $193 73 S227 86 $105 83 S265 63 S316 97 Property Rgtft Conveyed 0% 0% 0% 0% 0% 0% 0% 0% Fnasng Terris' 0% 0% 0% 0% 0% 0% 0% 0% Cardmns of sale 0% 0% 0% 0% 0% 0% 0% 0% Martel Catdrbwls 0% 0% 0% 0% 0% 0% 0% D% SuEbtal $160 71 537240 $164 44 1119373 5227 86 5/05 83 S26s 63 $316 97 sue D% 0% 0% D% 0% 0% 0% 0% shape 0% 0% 0% 0% 0% 0% 0% 0% Cana 0% 0% 0% 0% 0% D% O% 0% Flan%" 0% 0% 0% 0% 0% 0% 0% 0% Topography 0% 0% 0% 0% 0% 0% 0% D% Lin -10% -25% 0% -10% -10% D% -10% 0% Zorwo'Dwsrry 0% 0% 0% 0% 0% 0% -3D% -30% Utilities 0% 0% 0% 0% D% D% 0% D% Ho" Best Use 0% 0% 0% D% D% 0% 0% 0% Toted OOW Adp6tmwits -10% -25% 0% -10% -1D% 0% 40% -V1% mid. Adweed sale Pnw Iw CaO aanaWWV avtw dNerowneot Owls !Mara aGPecr6fe Cwrp4ed W CBW Conclusion tx,adtr s and cr c uses atUude+p oft, otridutg. Par" 9-ar W0180e paamg lot, Wool uaes a utility service Provider uses 112 48.717 The comparables sales presented produced an overall unadjusted value indicator range from $105.83 to $372.40 per square foot of site area. After adjustments were applied for property rights conveyed, conditions of sale, i.e. distress, discount or assemblage premium, market conditions (time), size, comer or frontage influence, topography/site conditions, location and zoning/density when compared to the subject property, the range of value indicators was narrowed to $105.83 to $279.30 per square foot of site area. Based on the preceding presentation & analysis, Comparables 1, 3, 4 & 6 were the most representative of the subject site, and warranted greatest consideration because of buyer/seller motivations, recent sale transaction dates, size, location and zoning/density. In conclusion, a price per square foot of site area within the overall unadjusted range and narrow adjusted range were most appropriate for valuing the fee simple interest in the subject property temporary construction easement 2 area, calculated as follows: 485 of 2180 Sales Comparison Approach - Temporary Easement 2 CONCLUDED LAND VALUE FOR TEMPORARY EASEMENT 2 $ PSF Subject SF Total $105.00 x 48,717 = $5,115,285 $175 00 x 48.717 = $8,525,475 Indicated Value $6.800.000 Rounded $6,800,000 (Concluded Value $ PSF) $139.58 Compiled by CBRE 486 of 2180 Value of Permanent & Temporary Easements Value of Permanent & Temporary Easements In this section, we have estimated the value of subject proposed underground easement area "at & below" surface grade by dividing the fee simple interest in the land value between surface rights, the air rights. and the sub -surface rights. In order to determine the ratio and allocations of value for surface, air and sub -surface rights, we have referenced the Development Regulations in the Zoning section, as follows: "The development regulations (setbacks, floor area ratio, signs, parking, etc.) in the GU government use district shall be the average of the requirements contained in the surrounding zoning districts as determined by the planning and zoning director, which shall be approved by the city commission." The surrounding zoning districts for the subject property are identified as RM-1, Residential Multi -Family, Low Intensity to the southwest of the subject property location. The RM-1 district permits a maximum building height of 50 feet, which equates to a maximum of 5-stories and 10-feet per story. The area to the south of the subject property is zoned CD-1, Commercial, Low Intensity, which permits a maximum building height of 40-foot or 4-stories and 10-feet per story. As such, we have concluded a property rights value allocation of 22.5% for the surface rights "at grade" level, calculated as the average of: 1-story / 5-stories = 0.20 + 1-story / 4-stories = 0.25 or an average of 0.225; and, an average story height of 10.0-feet, calculated as the average of 10-feet per story. Based on the foregoing calculation & presentation, we have concluded a property rights value allocation of 22.5% for the surface rights up to 10.0 feet; and 77.5% for the air rights above 10.0 feet. Furthermore, we have split the air rights allocation as follows: 67.5% for the air rights above 10.0 feet; and a nominal 10.0% for sub -surface rights necessary for underground infrastructure necessary to support the surface rights. Once the fee simple interest of 100% is established via sales comparison approach, the ratios of 22.5% for surface plus 10% for sub -surface = 32.5%; and 67.5% for air rights can be calculated for the proposed sub -surface & surface rights of the permanent easement estate, as follows: PROPOSED PERMANENT EASEMENT AREA Fee Simple Market Value 100.00% $2,100,000 Proposed Easement Area Surface Rights to 10.0 Feet + Sub -Surface Rights @ 32.50% = $682,500 Air Rights Above 10.0 Feet @ 67.50% = $1,417,500 Compiled by CBRE We have also calculated the proposed sub -surface & surface rights of the temporary construction easement 1 area, as follows: PROPOSED TEMPORARY EASEMENT 1 AREA Fee Simple Market Value 100.00% $270,000 Proposed Easement Area Surface Rights to 10.0 Feet + Sub -Surface Rights @ 32.50% = $87,750 Air Rights Above 10.0 Feet @ 67.50% = $182,250 Compiled by CBRE 487 of 2180 Value of Permanent & Temporary Easements And the proposed sub -surface & surface rights of the temporary construction easement 2 area are calculated as follows: PROPOSED TEMPORARY EASEMENT 2 AREA Fee Simple Market Value 100.00% $6,800,000 Proposed Easement Area Surface Rights to 10.0 Feet + Sub -Surface Rights @ 32.509'0 = $2,210,000 Air Rights Above 10.0 Feet @ 67.50% _ $4,590,000 Compiled by CBRE 488 of 2180 Income Approach - Fee Simple Fair Market Annual Rent Income Approach - Fee Simple Fair Market Annual Rent The following maps and table summarize the comparable data used in the estimated of market rent of the subject property. Hialeah �V, �1 S �?k4Ar�R ♦, 1 t t; t. BN _5 ' Ka a Mraoa7ch Miami e K7 0 SUMMARY OF COMPARABLE GROUND LEASES Prop" Meru YOC / TenarM L— Luse Lcaae No. and LocA0n1 Rsew'd Occ. Na Are. (SF) Due Term Bow ReM Reartarswnenra Eacah*tl 1 Wawa G,-, d Lane 2022 100% Wn.a GL 47 065 Dec 22 20 0 Yn S8 82 PSF AbMr1e Nsl a% every 5. start Y, 11 7070 W Fuper St N }Yr Cpeara Mum. FL 331" 2 CVS hwrlwy Ground Lease 2022 100% CVS+PhWMWy 45,738 Mar.23 200 Yrs W 18 PSF NNN Fiat 13190 SW 1121h Stoat . 5 }Yee OPWO Marrs, FL 33188 3 Chat-FY-A Ground Lnn M24 100% cNa-F" Win M-24 15 0 Y. SS a5 PSF AMo+rti Nw 9% —Y 5 Y.- 1 a240 S Dr— M^'y 1 . d. 5.,— Cpeore West Patme. FL 33157 4 Proposed Ch &F" Wound Leas 2024 100% ChKkA-A 54 {50 Od-24 10 0 Yrs S7 53 PSF ApaokAe Not B%.Yn 6 and 11 13001 S Dnr" •n0. }Yen pppw Prratraet. FL 3315a 5 Murphy Eepaw 2025 100% Murphy tad USA_ ktc 51,836 J8n25 20 0 Yrs $7 81 PSF Absokde Nor 8% awry 5 ye 7362 NW 72nd Avenue .4.5-br, y— Cp Mum. FL 33166 6 ChrAFe-A 2024 10D% CMckF" 36,333 Apr 24 20.0 Yrs. W 13 PSF ADapkN Nat 10%—v 5 Yean 9190 Bscaple BaNvrd .10 }Yr Opm— Mum Show, FL 33138 S61 M,W B—h Gdt Ckk - FPL Ease nem — — _ 14925 TBO 19M N Michq n Awrere 1,942 Murm BOWK FL 33139 48 71 ? Cooped by C WE 489 of 2180 Income Approach - Fee Simple Fair Market Annual Rent In this section, we have estimated the annual market rent for the subject property by performing a traditional market rent survey of comparable ground lease transactions and via the rent multiplier method. Market Rent Comparables We have extracted ground rents from comparable low intensity commercial developments in the Miami - Dade County market area. The comparables surveyed produced a wide range from $5.65 to $9.18 per square foot of site area. Based on the subject's site size, low intensity zoning and barrier island location, the market rent should fall above the midpoint of the overall range, at say $9.00 per square foot of site area. Market Rent Estimate Our estimate of the annual market rent for the subject property based on the market rent survey, is summarized as follows: COMPARABLE MARKET RENT ESTIMATES Miami Beach Golf Course - Miami Beach Goff Course - Miami Beach Golf Course - Category Permanent Easement Temporary Easement 1 Temporary Easement 2 Land Area (SF) 14,925 1,942 48,717 Market Rent (S/SF/Yr.) S9.00 $9.00 $9.00 Market Rent ($/Yr.) (Rounded) $134,330 $17,480 $438,450 Concessions 3 to 6 Months Build Time None None Reimbursements Annual Escalation Site Improvements (New Tenants) Tenant Improvements (Renewals) Average Loose Term Absolute net 3% Annually Tenant responsibility Tenant responsibility 1 Year + 3, 1 Year Options Loosing Commissions (New Tenants) 5.0% 5.0% 5.0% Leasing Commissions (Renewals) 2.0% 2.0% 2.0% Compiled by CBRE Absolute net 10% every 5 years Tenant responsibility Tenant responsibility Absolute net 3% Annually Tenant responsibility Tenant responsibility 20 Years + 4, 5 Year Option Terms 1 Year + 3, 1 Year Options Rent Multiplier Method As a cross check to the preceding market rent comparison method, we have also employed a rent multiplier method to determine market rent. The rent multiplier method is based on the difference or spread between the agreed upon rental rate and the overall capitalization rate used to determine prospective value of what an investor would pay for a leased fee investment. The spread represents the profit expectation that a developer would require in order to secure a site, negotiate a long-term ground lease with a prospective tenant and perform earthwork & site improvements, if necessary, in order to secure the long term ground lease. An appropriate profit spread for a ground lease transaction of this type would be between 200 and 300 basis points between rent multiplier and overall capitalization rate. To determine a reasonable overall capitalization rate, we have presented the national investor survey for triple net lease and land lease investors: 490 of 2180 Income Approach - Fee Simple Fair Market Annual Rent OVERALL CAPITALIZATION RATES Investment Type OAR Range Average Rea/tyRates.com - Land Leases - 3rd Qtr. 2025 All Properties 4.34% 18A2a% 10.07% Apartments 4.34% - 11.22% 8,84% Golf 5.06% - 16.42% 10.65% Health Care/Senior Housing 5.06% - 12.47% 9.81 % Industrial 4.89% - 12.24% 9.35% Lodging 516% - 16.30°% 9 44% Mobile Home/RV Park 4.96% - 14.90% 10.60% Office 4.91 °% - 13.16% 9.34% Self -Storage 4.91 % - 12.36% 1 1.56% Special Purposes 5.30°% - 18.42% 10.07% PwC National Investor Survey - 3rd Qtr. 2025 National Self -Storage 4.00% - 7.50% 5.95% National Outdoor Storage 6.70°% - 7 00% 7,30% National Net Lease 6.00% - 9.00% 7 16% Kawa - Private Hedge Fund Ground Lease Funding 3.55% - 6 00% 4.78°% Safehold Inc. - REIT Office, Multfamily & Hotel 4.50% - 7.00% 575% Indicated OAR: 4.50% - 5.50% Compiled by CBRE We have also extracted the profit spread from several comparable ground lease and triple net build -to -suit leased properties presented as follows: SUMMARY OF COMPARABLE RETURN ON COST VS. OVERALL CAPITALIZATION RATE PROFIT SPREADS Land Year Site R Annual Rehm Sale/Market Basi: Point No. Property Location (SF) Built Development Costs NOI on Cost OAR Spread/Profit 1 Chick-Fil-A SE Florida 68,000 2024 $6,000,000 $380,000 6 33% 4.20% 213 Ground Lease 2 7-Eleven SE Florida 60,743 2020 Ground Lease 3 Bank Branch SE Florida 19,316 2018 4 Medical Office SE Florida 31.559 2018 5 Wawa SE Florida 81,031 2017 Ground Lease 6 Bank Branch SE Florida 20,460 2014 $4,388,212 $267,500 6.10% 4 75`b 135 51,890,000 $160,650 8 50% 5.00% 350 $2,145,600 $187,740 8 75% 5.19% 356 $6,225,000 $420,000 6.75% 4 75% 200 $3,472,000 $333,000 9.59% 5 50% 409 Compiled by CBRE The corresponding overall capitalization rate range for a long-term prospective land lease investment based on the potential development Density, would be 4.50% plus a 200 to 300 basis point spread for anticipated profit. This would produce a rent multiplier range of 0.065 to 0.075. 491 of 2180 Income Approach - Fee Simple Fair Market Annual Rent The following tables present the rent multiplier method conclusions for the subject permanent and temporary easement site areas, as proposed: RENT MULTIPLIER METHOD Land Value Potential Rent 0.065 x 0.075 x Indicated Market Rent As Is: Indicated Market Rent PSF: $2,100,000 $2,100,000 = $136,500 = S157,500 $147,000 $9.85 Compiled by CBRE RENT MULTIPLIER METHOD Land Value Potential Rent 0.065 x 0.075 x Indicated Market Rent As Is: Indicated Market Rent PSF: $270,000 = $270,000 = $17,550 $20,250 $18,900 $9.73 Compiled by CBRE RENT MULTIPLIER METHOD Land Value Potential Rent 0.065 x 0.075 x Indicated Market Rent As Is: Indicated Market Rent PSF: $6,800,000 = $6,800,000 = $442,000 S510,000 $476,000 $9.77 Compiled by CBRE Reconciliation of Market Rent Survey & Rent Multiplier Method The fair market annual rent for the subject permanent and temporary easement area is reconciled as follows: INCOME APPROACH VALUE - PERMANENT EASEMENT Appraisal Premise Market Rent Market Rent Comparables Rent Multiplier Method $134,330 $147,000 Reconcilied Fair Market Annual Rent $140,000 Compiled by CBRE INCOME APPROACH VALUE - TEMPORARY CONSTRUCTION EASEMENT 1 Appraisal Premise Market Rent Market Rent Comparables Rent Multiplier Method $17,480 $18,900 Reconcilied Fair Market Annual Rent $18,000 Compiled by CBRE 492 of 2180 Income Approach - Fee Simple Fair Market Annual Rent INCOME APPROACH VALUE - TEMPORARY CONSTRUCTION EASEMENT 2 Appraisal Premise Market Rent Market Rent Comparables 5438,450 Rent Multiplier Method 5476,000 Reconcilied Fair Market Annual Rent 5457,000 Compiled by CBRE 493 of 2180 Proposed Easement Estate Fair Market Annual Rent Proposed Easement Estate Fair Market Annual Rent In this section, we have estimated the annual market rent of subject proposed easement area "at & below" surface grade by dividing the fee simple interest in the land value between surface rights, the air rights, and the sub -surface rights. We have employed the same methodology as the preceding sections with regards to the proposed easement estate allocation of 22.5% for the surface rights up to 10.0 feet; and 77.5% for the air rights above 10.0 feet. Furthermore, we have split the air rights allocation as follows: 67.5% for the air rights above 10.0 feet; and a nominal 10.0% for sub -surface rights necessary for underground infrastructure necessary to support the developable air rights. Once the fee simple annual market rent is established via income approach, the ratios of 22.5% for surface plus 10% for sub -surface = 32.5%; and 67.5% for air rights can be calculated for the proposed sub -surface & surface rights of the permanent and temporary easement estates, as follows: PROPOSED PERMANENT EASEMENT AREA Annual Market Rent 100.00% $140,000 Proposed Easement Area Surface Rights + Sub -Surface Rights + Air Rights @ Air Rights Above 10.0 Feet @ 32.50% _ 67.50% = $45,500 $94,500 Compiled by CBRE PROPOSED TEMPORARY CONSTRUCTION EASEMENT 1 AREA Annual Market Rent 100.00% $18,000 Proposed Easement Area Surface Rights + Sub -Surface Rights + Air Rights @ Air Rights Above 10.0 Feet @ 32.50% _ 67.50% = $5,850 $12,150 Compiled by CBRE PROPOSED TEMPORARY CONSTRUCTION EASEMENT 2 AREA Annual Market Rent 100.00% $457,000 Proposed Easement Area Surface Rights + Sub -Surface Rights + Air Rights @ Air Rights Above 10.0 Feet @ 32.50% _ 67.50% = $148,525 $308,475 Compiled by CBRE 494 of 2180 Assumptions and Limiting Conditions Assumptions and Limiting Conditions 1. CBRE, Inc. through its appraiser (collectively, `CBRE") has inspected through reasonable observation the subject property. However, it is not possible or reasonably practicable to personally inspect conditions beneath the sod and the entire interior and exterior of the improvements on the subject property. Therefore, no representation is made as to such matters 2. The report. including its conclusions and any portion of such report (the 'Report"), is as of the date set forth in the letter of transmittal and based upon the information, market, economic, and property conditions and projected levels of operation existing as of such date. The dollar amount of any conclusion as to value in the Report is based upon the purchasing power of the U.S. Dollar on such date. The Report is subject to change as a result of fluctuations in any of the foregoing. CBRE has no obligation to revise the Report to reflect any such fluctuations or other events or conditions which occur subsequent to such date. 3. Unless otherwise expressly noted in the Report, CBRE has assumed that: (i) Title to the subject property is clear and marketable and that there are no recorded or unrecorded matters or exceptions to title that would adversely affect marketability or value. CBRE has not examined title records (including without limitation liens, encumbrances, easements, deed restrictions, and other conditions that may affect the title or use of the subject property) and makes no representations regarding title or its limitations on the use of the subject property. Insurance against financial loss that may arise out of defects in title should be sought from a qualified title insurance company. (ii) Existing improvements on the subject property conform to applicable local, state, and federal building codes and ordinances, are structurally sound and seismically safe, and have been built and repaired in a workmanlike manner according to standard practices; all building systems (mechanical/electrical, HVAC, elevator, plumbing, etc.) are in good working order with no major deferred maintenance or repair required, and the roof and exterior are in good condition and free from intrusion by the elements. CBRE has not retained independent structural, mechanical, electrical, or civil engineers in connection with this appraisal and, therefore, makes no representations relative to the condition of improvements. CBRE appraisers are not engineers and are not qualified to judge matters of an engineering nature, and furthermore structural problems or building system problems may not be visible It is expressly assumed that any purchaser would, as a precondition to dosing a sale, obtain a satisfactory engineering report relative to the structural integrity of the property and the integrity of building systems. (iii) Any proposed improvements, on or off -site, as well as any alterations or repairs considered will be completed in a workmanlike manner according to standard practices. (iv) Hazardous materials are not present on the subject property. CBRE is not qualified to detect such substances The presence of substances such as asbestos, urea formaldehyde foam insulation, contaminated groundwater, mold, or other potentially hazardous materials may affect the value of the property- (v) No mineral deposit or subsurface rights of value exist with respect to the subject property, whether gas, liquid, or solid, and no air or development rights of value may be transferred. CBRE has not considered any rights associated with extraction or exploration of any resources, unless otherwise expressly noted in the Report. (vi) There are no contemplated public initiatives, governmental development controls, rent controls, or changes in the present zoning ordinances or regulations governing use, density, or shape that would significantly affect the value of the subject property (vii) All required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can be readily obtained or renewed for any use on which the Report is based. (viii)The subject property is managed and operated in a prudent and competent manner, neither inefficiently, nor super -efficiently. (ix) The subject property and its use, management, and operation are in full compliance with all applicable federal, state, and local regulations, laws, and restrictions, including without limitation environmental laws, seismic hazards, flight pattems, decibel levels/noise envelopes. fire hazards, hillside ordinances, density, allowable uses, building codes, permits, and licenses. (x) The subject property is in full compliance with the Americans with Disabilities Act (ADA). CBRE is not qualified to assess the subject property's compliance with the ADA, notwithstanding any discussion of possible readily achievable barrier removal construction items in the Report. (xi) All information regarding the areas and dimensions of the subject property furnished to CBRE are correct, and no encroachments exist. CBRE has neither undertaken any survey of the boundaries of the subject property, nor reviewed or confirmed the accuracy of any legal description of the subject property. 495 of 2180 Assumptions and Limiting Conditions Unless otherwise expressly noted in the Report, no issues regarding the foregoing were brought to CBRE's attention, and CBRE has no knowledge of any such facts affecting the subject property. If any information inconsistent with any of the foregoing assumptions is discovered, such information could have a substantial negative impact on the Report and any conclusions stated therein Accordingly, if any such information is subsequently made known to CBRE, CBRE reserves the right to amend the Report, which may include the conclusions of the Report. CBRE assumes no responsibility for any conditions regarding the foregoing, or for any expertise or knowledge required to discover them. Any user of the Report is urged to retain an expert in the applicable field(s) for information regarding such conditions. 4. CBRE has assumed that all documents, data and information furnished by or on behalf of the client, property owner or owner's representative are accurate and correct, unless otherwise expressly noted in the Report. Such data and information include, without limitation, numerical street addresses, lot and block numbers, Assessor's Parcel Numbers, land dimensions, square footage area of the land, dimensions of the improvements, gross building areas, net rentable areas, usable areas, unit count, room count, rent schedules, income data, historical operating expenses, budgets, and related data. Any error in any of the above could have a substantial impact on the Report and any conclusions stated therein. Accordingly, if any such errors are subsequently made known to CBRE, CBRE reserves the right to amend the Report, which may include the conclusions of the Report. The client and intended user should carefully review all assumptions, data, relevant calculations, and conclusions of the Report and should immediately notify CBRE of any questions or errors within 30 days after the date of delivery of the Report. 5. CBRE assumes no responsibility (including any obligation to procure the same) for any documents, data or information not provided to CBRE, including, without limitation, any termite inspection, survey or occupancy permit. & All furnishings, equipment and business operations have been disregarded with only real property being considered in the Report, except as otherwise expressly stated and typically considered part of real property- 7 Any cash flows included in the analysis are forecasts of estimated future operating characteristics based upon the information and assumptions contained within the Report. Any projections of income, expenses and economic conditions utilized in the Report, including such cash flows. should be considered as only estimates of the expectations of future income and expenses as of the date of the Report and not predictions of the future. This Report has been prepared in good faith, based on CBRE's current anecdotal and evidence -based views of the commercial real estate market. Although CBRE believes its views reflect market conditions on the date of this Report, they are subject to significant uncertainties and contingencies, many of which are beyond CBRE's control. In addition, many of CBRE's views are opinion and/or projections based on CBRE's subjective analyses of current market circumstances. Actual results are affected by a number of factors outside the control of CBRE, including without limitation fluctuating economic, market, and property conditions. Actual results may ultimately differ from these projections, and CBRE does not warrant any such projections. Further, other firms may have different opinions, projections and analyses, and actual market conditions in the future may cause CBRE's current views to later change or be incorrect. CBRE has no obligation to update its views herein if its opinions, projections, analyses or market circumstances later change. 8 The Report contains professional opinions and is expressly not intended to serve as any warranty, assurance or guarantee of any particular value of the subject property. Other appraisers may reach different conclusions as to the value of the subject property. Furthermore, market value is highly related to exposure time, promotion effort, terms, motivation, and conclusions surrounding the offering of the subject property. The Report is for the sole purpose of providing the intended user with CBRE's independent professional opinion of the value of the subject property as of the date of the Report. Accordingly, CBRE shall not be liable for any losses that arise from any investment or lending decision based upon the Report that the client, intended user, or any buyer, seller, investor, or lending institution may undertake related to the subject property, and CBRE has not been compensated to assume any of these risks Nothing contained in the Report shall be construed as any direct or indirect recommendation of CBRE to buy, sell. hold, or finance the subject property. 9. No opinion is expressed on matters which may require legal expertise or specialized investigation or knowledge including, but not limited to, environmental, social, and governance principles ("ESG"), beyond that customarily employed by real estate appraisers. Any user of the Report is advised to retain experts in areas that fall outside the scope of the real estate appraisal profession for such matters. 10. CBRE assumes no responsibility for any costs or consequences arising due to the need, or the lack of need, for flood hazard insurance. An agent for the Federal Flood Insurance Program should be contacted to determine the actual need for Flood Hazard Insurance. 11. Acceptance or use of the Report constitutes full acceptance of these Assumptions and Limiting Conditions and any special assumptions set forth in the Report. It is the responsibility of the user of the Report to read in full, comprehend and thus become aware of all such assumptions and limiting conditions. CBRE assumes no responsibility for any situation arising out of the user's failure to become familiar with and understand the same. 12. The Report applies to the property as a whole only, and any pro ration or division of the title into fractional interests will invalidate such conclusions, unless the Report expressly assumes such pro ration or division of interests. 496 of 2180 Assumptions and Limiting Conditions 11 The allocations of the total value estimate in the Report between land and improvements apply only to the existing use of the subject property. The allocations of values for each of the land and improvements are not intended to be used with any other property or appraisal and are not valid for any such use. 14. The maps, plats, sketches, graphs, photographs, and exhibits included in this Report are for illustration purposes only and shall be utilized only to assist in visualizing matters discussed in the Report. No such items shall be removed, reproduced, or used apart from the Report. 15. The Report shall not be duplicated or provided to any unintended users in whole or in part without the written consent of CBRE, which consent CBRE may withhold in its sole discretion. Exempt from this restriction is duplication for the internal use of the intended user and its attorneys, accountants, or advisors for the sole benefit of the intended user. Also exempt from this restriction is transmission of the Report pursuant to any requirement of any court, governmental authority, or regulatory agency having jurisdiction over the intended user, provided that the Report and its contents shall not be published, in whole or in part, in any public document without the written consent of CBRE, which consent CBRE may withhold in its sole discretion. Finally, the Report shall not be made available to the public or otherwise used in any offering of the property or any security, as defined by applicable law. Any unintended user who may possess the Report is advised that it shall not rely upon the Report or its conclusions and that it should rely on its own appraisers, advisors and other consultants for any decision in connection with the subject property. CBRE shall have no liability or responsibility to any such unintended user. 497 of 2180 Addenda Addenda 498 of 2180 Addenda Addendum A Land Sale Data Sheets 499 of 2180 ,aule LanaMmulti Unit Residential Property Name Pennsylvania Townhomes Address 1020 Pennsylvania Avenue Miami Beach, FL 33139 United States Government Tax Agency Miami -Dade Govt-/Tax ID 02-4203-009-1160 Site/Csovem"wnt Regulations Acres Square feet Land Area Net 0.161 7,000 Land Area Gross 0 161 7,000 Site Development Status Finished Shape Rectangular Topography Level, At Street Grade Utilities All Available Maximum FAR 1.25 Min Land to Bldg Ratio N/A Maximum Density 37.34 per ac Frontage Distance/Street 50 ft Pennsylvania Avenue Frontage Distance/Street 50 ft Ailey General Plan Multi -family residential uses Specific Plan Urban townhomes Zoning PM-1, Residential Multifamily, Low Intensity Entitlement Status N/A jm� "Wm�wl E fi s Recorded Buyer 1020 Pennsylvania Investments LLC Marketing Time N/A True Buyer Humberto Rinaldi Buyer Type Developer Recorded Seller 1020 Pennsylvania Ave LLC Seller Type Private Investor True Seller Adam Hendry Primary Verification Michael Benmeleh, Listing Agent Interest Transferred Fee Simple Type Sole Current Use Vacant land Date 7/28/2023 Proposed Use Townhomes Sole Price $1,125,000 Listing Broker Beach City Realty *305 978-5988 Firwncing All Cash Selling Broker N/A Cash Equivalent $1,125,000 Doc # 33830/0890 Capitol Adjustment $0 Adjusted Price $1,125,000 Transaction Date Transaction Tvae Swer Selig Price/ae and /sf 07/2023 Sale 1020 Pennsylvania 1020 Pennsylmnia Ave $1,125,000 $7,000,622 / $160.71 Ica estm.nts LLC LLC 500 of 2180 CBRE ale Land - Multi Unit Residential No. 1 $160.71 / sf $7,000,622.28 / cc $375,000 / Unit S 187,500 / Allowable Bldg. Units $128.57 / Building Area No information recorded This comparable land sale is located along the west side of Pennsylvania Avenue, iust north of 1 Oth Street in the Flamingo Park Historic District in the South beach submarket in the City of Miami Beach, SOUT�EACH Florida. The seller purchased the property in September 2013 for $1,000,000 and demolished the prior I obsolete structures in 2014. The current buyer/developer submitted an application in April 2025 to the 0 FLAMINGO Planning Department for development of three (3), 3-story urban townhomes. ,,,� -1 LUMMUS •' •• ty3ap ::ata :==.Z:i.25 Googte 501 of 2180 CBRE A • Land11101115ingle• • Property Name 1425 Bay Road Townhomes Address 1425 Bay Road Miami Beach, FL 33139 United States a '' Government Tax Agency Miami -Dade Govt./Tax ID Multiple Site/Govemment Regulations Acres Square feet Land Area Net 0.388 16,904 Land Area Gross N/A N/A Site Development Status Finished Shape I. Shaped Topography Level, At Street Grade Utilities All Available Maximum FAR 1.25 Min Land to Bldg Ratio 0-80:1 Maximum Density 25.77 per ac Frontage Distance/Street 200 ft Bay Rood Frontage Distance/Street 60 ft 14th Terrace Frontage Distance/Street 110 ft Flamingo Way General Plan Residential uses Specific Plan Townhomes Zoning RM-1, Residential Multifamily, Low Intensity Entitlement Status Final Tract Pampa Sunbelt 16 LLC & Pampa Sunbelt 18 Recorded Buyer LLC Marketing Time N/A True Buyer N/A Buyer Type Developer Recorded Seller B & B Capital Management LLC & 1425 Bay Seller Type Private Investor SPE LLC True Seller Blanca Beaumont & Brendan Fucci Primary Verification Gary Silberman, Buyers Attorney #305 -285-0377 & Miami Beach P&Z Interest Transferred Fee Simple Type Sole Current Use vacant lot & obsolete single family residential Date 9/11/2023 Proposed Use Urban townhomes Sole Price $6,295,000 Listing Broker Mina Taskiran - Sotheby's 305.206.4551 Financing All Cash Selling Broker N/A Cash Equivalent S6,295,000 Doc # 33753/4521, 33753/4519 & 33889/2642 Capital Adjustment s0 Adjusted Price S6,295,000 Transaction Date Transaction Tvoe KM Seller Price Price/ac and /sf 09/2023 Sale Pampa Sunbeft 16 LLC & B & B Capital S6,295,000 $16,220,046 / $372.40 Pampa Sunbelt 18 LLC Management LLC & 1425 Bay SPE LLC 05/2022 Sale 1425 Bay SPE, LLC N/A $2,150,000 $15,613,653 / $358.33 502 Of 2180 CBRE Sale e - Unit Residential $372.40 / sf $629,500 / Unit $16,220,046.38 / ac $629,500 / Allowable Bldg. Units $297.92 / Building Area No information recorded This comparable land sale is a two -port assemblage of three (3) single family residential lots located yalong the east side of Bay Road from Flamingo Way south to 14th Terrace in the West Bayfront Overlay District in the South Beach submarket in the City of Miami Beach, Florida. All three (3) lots are zoned D RM-1 with a maximum 1.25 FAR. Lot 12 in Block 79 of the Alton Beach Bay Front subdivision at the t1 '(IDI corner of Bay Road & 14th Terrace was previously purchased in May 2022 for $2,150,000 and cleared 14th Terrace for development of a 3-unit townhome development. However, Lots 1 & 2 in Block 79 were purchased in e e e Map data 2025 Goggle May 2023 by another developer for S1,800,000 each and then acquired Lot 1 for $2,695,000 in September 2023 and secured approvals for a total of 10, 4-story townhomes with 3-bedrooms, 3.5 bathrooms and 2-car garages. The buyer/developer demolished two (2) vintage 1940's single family dwellings on Lots 1 & 2 and is redeveloping the entire site with eco-resilient buildings featuring rooftop solar arrays, 2,480-square-feet of gross area per unit, saltwater resilient landscaping, a rainwater retention system for irrigation, insulation & energy efficiency, nontoxic materials and automated ventilations and expected to achieve LEED Gold and WELL certified. 503 of 2180 CBRE Lanciliftulti Unit Residential c Property Name 7729 Carlyle Avenue Address 7729 Carlyle Avenue r, , Miami Beach, FL 33141 United States, Government Tax Agency Miami -Dade Govt /Tax ID 02-3202-007-1650 Sift/Govemment Regulations Acres Square feet Land Area Net 0.129 5,625 Land Area Gross N/A N/A Site Devolopmwd Status FinWwd Shape Redanguiar Topography level, At Street Gmde utilities All Available Maximum FAR 1.24 Min Land to Bldg Ratio 0.81 1 Maximum Density 46.48 per ac Frontage Distance/Strett 50 ft Carlyle Avenue General Plan Multi -family residential uses Specific Plan Urban townhomes Zoning RM-1, Residential Mufti -Family, Low Intensity Entitlement Status N/A Recorded Buyer 7729 Carlyle Holdings LLC Marketing Time N/A True Buyer Pnino Revach Buyer Type Developer Recorded Seller Carlyle Property Holdings, LLC c/o PBYBA Seller Type Private Investor True Seller Ricardo Baiandas Primary Verification Seller/Attomey #305-377-0086 8 Public Records Interest Transferred Fee Simple Type Sale Current Use Single -Family Residence Date 10/16/2023 Proposed Use Urban townhomes Salt Price $925,000 Listing Broker United Realty Group Financing Othtr(Ste Commwds) Selling Broker N/A Cash Equivalent $925,000 Doc # 33941-0554 Capital Adjustment SO Adjusted Price $925,000 Transaction Dato Transaction Trot §MM Sell _rr $jet Price/ac and /d 10/2023 Sal* 7729 Carlyle Holdings Corfyle Property $925,000 $7,164,988 / $164.44 LLC Hoklings, LLC c% POY&A 504 of 2180 CBRE e LancWhAulti Unit Residential $164.44 / sf $ 7,164,988.38 / ac No information mcor&d $154,167 / Unit $154,167 / Allowable Bldg. Units $132.52 / Building Area 78th St 78th St f This is the sale of a 0.13-acre site located at 7729 Carlyle Avenue in the City of Miami Beach, Miami - Dade County, Florida. The property was improved with a 2BR/1 BA single-family residence with 713 SF. yW It was built during 1936 and considered to have no contributory value. The seller purchased the property 7�c p in October 2022 for 5670,000 and re -listed it at $950,000. It sold for $925,000 and was facilitated with �p D a $450,000 purchase money mortgage. The buyer/developer is proposing a 6-unit townhome y < development with 4-stories, covered parking, 2-bedroom / 2-bath floor plans and rooftop terraces. Units A e e e ill range from 1,074 to 1,194 square feet of air conditioned living area. Map data 2025 Googte w 505 of 2180 C BR E Property Name Villa 17 Address 1709 Jefferson Avenue Miami Beach, FL 33139 United States Government Tax Agency Miami -Dade Govt./Tax ID Multiple Site/Government Regulations Acres Square feet Land Area Net 0.516 22,454 Land Area Gross N/A N/A Site Development Status Finished Shape Rectangular Topography Level, At Street Grade Utilities AN Available Maximum FAR 1 25 Min Land to Bldg Ratio 0 80:1 Maximum Density 19.40 per oc Frontage Distance/Street N/A Jefferson Avenue Frontage Distance/Street N/A 17th Street General Plan Multi -family residential uses Specific Plan Urban villas Zoning PM-1, Residential Multifamily, Low Intensity Entitlement Status N/A Recorded Buyer Miami Beach Development Group LLC Marketing Time N/A True Buyer Alex Troyanovsky Buyer Type Developer Recorded Seller 1688 Property Owner LLC Seller Type Private Investor True Seller Ophira Cukierman Primary Verification Manuel E. Gonzalez, Attorney & Public Records Interest Transferred Fee Simple Type Sole Current Use Surface parking lot Date 11/17/2023 Proposed Use Urban villas Sale Price f4,350,000 Listing Broker Off -market transaction Financing Market Rate FiinmKing Selling Broker N/A Cosh Equivalent $4,350,000 Doc # 34006-2771 Capital Adjustment SO Adjusted Price $4.350,000 Transaction Date Transaction Tree Over Salle Price Price/ac and /sf 11/2023 Sale Miami Beach 1688 Property Owner 54,350,000 58,438,409 / $193.73 Development Group LLC LLC 506 of 2180 CBRE S,ale Land - Multi Unit Residential No. 4; unns $193.73 / sf $435,000 / Unit $8,438,409.31 / ac $435,000 / Allowable Bldg. Units $154.99 / Building Area This comparable land sale is located along the northeast comer of Jefferson Avenue and 1 Oth Street in rD the South Beach submarket in the City of Miami Beach, Florida The site is improved as a surface parking vs 10 lot and was previously acquired in August 2021 as part of the 1688 Meridian office building acquisition that is situated across the street to the south of this lot. The buyer/developer submitted a site plan D application for a 10-unit townhome/villa development featuring 4-stories plus balconies and rooftop terraces, 2-car garages and 4-bedroom / 4-bath floor plans. ' ' ' - Map dale OZ>2025 Google 507 of 2180 CBRE LanclIMMulti Unit Residential r Property Name 1440 Michigan Avenue Address 1440 Michigan Avenue Miami Beach, FL 33139 United States ' .. Government Tax Agency Miami -Dade Govt./Tox ID 02-4203-009-6980 "--- Site/Government Regulations lie Land Area Net Land Area Gross Site Development Status Shape Topography Utilities Maximum FAR Min Land to Bldg Ratio Maximum Density Frontage Distance/Street Frontage Distance/Street Acres Square feet 0.529 23,040 N/A N/A Finished Rectangular Level, At Street Grade Available to site 1.03 0.97:1 43.49 per ac 72 ft Michigan Avenue 72 ft Lenox Avenue General Plan Multi -family residential Specific Plan TBD Zoning RM-1, Residential Multi -Family, Low Intensity Entitlement Status N/A Recorded Buyer Qrior Rental Michigan, LLC Marketing Time True Buyer Luis Nelva Silveira Buyer Type Recorded Seller AMM Family Trust Seller Type True Seller Andrew Mirmelli Primary Verification Interest Transferred Fee Simple Current Use Voconf land Proposed Use Multi-fomily rental apartments Listing Broker Marcus & Millichap #786-522-7087 Selling Broker N/A Doc # 34367/1425 Tram;saction Date Transaction Type Rao 08/2024 Sale Qrior Randal Michigan, LLC 11 /2021 Sole AMM Family Trust Type Date Sale Price Fawning Cash Equkdent Cates AdOstment Adjusted Prim Seller AMM Faealy Trust "Mouth Telecommunications, LLC 17 Month(s) Developer Private Investor Ryan Shaw, Listing Broker Sale 8/14/2024 $5,250,000 All Cash $5,250,000 $0 $5,250,000 pristE !rice/oc and /sf $5,250,000 $9,926,262 / $227.86 $1,975,050 $3,734,260 / S85.72 508 of 2180 LZ_=1 V 'Sale $227,86 / sf $228,261 / Unit $9,926,262.05 / ac $228,261 / Allowable Bldg. Units S221.61 / Building Area No information recorded 2 t tNCOLN ROAD This comparable land site is located at 1440 Michigan Avenue in the South Beach submarket in the City w' of Miami Beach, Florida. This location is just south of 15th Street, a well travelled collector road that connects Alton Rood to Collins Avenue and Ocean Drive. The site was historically owned & occupied by St AT&T and was improved with a surface parking lot with 25-spaces, perimeter wall & rolling gates and a 456-SF office pod The north half of the site fronting 15th Street was previously sold -off to Shoma Homes WEST A NUE who developed urban townhomes, while AT&T retained the south half. The seller acquired the south half `all k • • data �2025 GOO+giO of the AT&T property in November 2021 for $1,975,000 in an cash" sale transaction and decided to re -list it 'for sale" in Q1 2023 at an asking price of $6,999,999 or $303 82-PSF The current buyer/developer has a site plan submittal for a multi -family rental project with 3-stories, 23-units and covered parking The unit mix is for one, two & three bedroom floor plans and 620 to 1,400 square feet of living area for a total of 23,690-SF of FAR. 509 of 2180 CBRE Property Name Address 1240 71 st Street 1240 71 st Street _ a Miami Beach, FL 33141 United States -� 1 Government Tax Agency Miami -Dade Govt /Tax ID 02-3210-013-1570 Site/Govemment Regulations Acres Square feet Land Area Net 0.163 7,087 1 Land Area Gross N/A N/A Site Development Status Finished Shape Rectangular Topography Level, At Street Grade Utilities Al Available Maximum FAR 0.75 Min land to Bldg Ratio 1.33.1 Maximum Density N/A Frontage Distance/Strwt N/A 71 st Street Frontage Distance/Street N/A Rue Notre Dome General Plan Multi -family residential uses Specific Plan TBD Zoning RO, Residential Office Entitlement Status N/A Recorded Buyer The Beach Loft LLC Marketing Time N/A True Buyer N/A Buyer Type Developer Recorded Seller MIA 71, LLC Seller Type Private Investor True Seller Leonardo I. Germano Primary Verification John Chase Fabian, Attorney #305- 397-8595 & Public Records Interest Transferred Fee Simple Type Sole Current Use Vacant Land Date 4/22/2025 Proposed Use TBD Sale Price $750,000 Listing Broker Off -market transaction Financing All Cash Selling Broker N/A Cash Equivalent $750,000 Doc # 34766-1186 Capitol Adjustment SO Adjusted Prig $750,000 Transaction Date Transaction Tvae Rmys Seller price Price/cc and /af 04/2025 Sale The Beach Loft LLC MIA 71, LLC $750,000 54,609,711 / S105.83 510 Of 2180 CBRE Sole Lan fixed -Use S 105.83 / sf $4,609,711.12 / ac No information recorded N/A / Unit N/A ! Allowable Bldg. Units 5141.11 / Building Area This is the sale of a 0.16-acre vacant lot located at the southeast comer of 71 st Street and Rue Notre Q Dame in the Normandy Isle submarket in the City of Miami Beach, Miami -Dade County, Florida. The site is vacant and in buildable condition It is zoned RO, residential/office district that is designed to accommodate an office condor or development compatible with the scale of surrounding residential neighborhoods and designed to maintain a residential character with a maximum floor -area -ratio of 0.75 and a maximum height of 33-feet. The property transferred in April 2025 for $750,000 in an 'all e O - Map data s 2025 Google cash' sale transaction, which equates to $105 83/SF of land area This was an arm's length transaction. 511 of 2180 CBRE Sale LancliftAixed-Use Property Name Sunset House Address 1840 Alton Road ' Miami Beach, FL 33139 ' United States Government Tax Agency Miami -Dade Govt./TaxID 02-3233-012-0170 Site/Government Regulations Acres Square feet Land Area Net 0 367 16,000 Land Area Gross 0.367 16,000 Site Development SWM Finished Shope Rodongulkw Tapography, Level, At Street Grade Utilities All avadoNe Maximum FAR 2-00 Min Land to Bldg Ratio 0.50 1 Maximum Density N/A Frontage Distance/Shoot 100 ft Alton Road General Plan Mixed -use Specific Plan N/A Zoning CD-2, Commercial, Medium Intensity Entitlement Status N/A Recorded Buyer 1840 Alton Partners LLC Marketing Time N/A True Buyer David Aaron Buyer Type Developer Recorded Seller Alton Road Supreme Services Inc Seller Type Private Investor True Seller Jose M. Sourez Primary Verification Mika Mattingly, Listing Broker Interest Transferred Fee Simple Type Sale Current Use Gas station 8 retail/office Date 9/4/2025 Proposed Use Mixed -use retail, office 8 residential Sole Price $4,250,000 Listing Broker Colliers #786-486-4391 Financing Market Rate Financing Selling Broker N/A Cash Equivalent $4,250,000 Doc # 34931 /2688 Capitol Adjustment f0 Adjusted Price $4.250,000 Transudion Date Transaction Type jSOf![ Seller $lit Prke/ac and /sf 09/2025 Sale 1840 Alton Partners LLC Alton Road Suprenn $4,250,000 $11,570,923 / $265,63 Services Inc 512 of 2180 CBRE $265.63 / sf N/A / Unit $11,570,922.95 / ac No information recorded N/A / Allowable Bldg. Units $132,83 / Building Area This comparable land sale is an operating service station located along the west side of Alton Road, just north of Dade Boulevard in the South Beach submarket in the City of Miami Beach, Florida. The 0 buyer/developer is proposing a 4-story, mixed -use retail, office & residential building redevelopment with • 31,996-SF of rentable FAR and 67,641-SF of gross building area including structured parking with EV IC A charging stations. The seller is a long term owner and the buyer facilitated the transaction with a $4,500,000 third party loan with a 2-year balloon. The new project will feature ground level e e e map data C12025 G000g«e retail/restaurant, high quality office space, a top floor live -work residential unit with terrace, pocket gardens, 16-foot ceilings and floor -to -ceiling glass. 513of2180 CBRE Property Name 1 101 71 st Street Address 1 101 71 st Street Miami Beach, FL 33141 United States Government Tax Agency Miami -Dade Govi /Tax ID 02-3210-013-1300 Site/Government Regulations Acres Square feet Land Area Net 0.427 18,614 Land Area Gross 0.427 18,614 Site Devoloprnerrt Status Finished Shope Rectangular Topography Level. At Street Crrade Utilities All available Maximum FAR 6.22 Min Land to Bldg Ratio 0.16.1 Maximum Density 229.35 per ac Frontage Distance/Ureet N/A 71 st Street General Plan Mixed -use Specific Plan Affordable housing Zoning CD-2, Commercial, Medium Intensity Entitlement Status N/A Recorded Buyer Housing Authority of the City of Miami Beach Marketing Time True Buyer N/A Buyer Type Recorded Seller lerika Properties Inc Seller Type True Seller Alan Waserstein Primary Verification Interest Transferred Current Use Proposed Use Listing Broker Selling Broker Doc Fee Simple Obsolete branch bank Affordable housing FISBO N/A 35021/4724 Type Date Sale Price Cash Equirolerrt CopiW Adjust - Adjusted Price Traroaction Date Transaction Troe Amer Seller 11/2025 Sole dousing Authority of the Jerika Properties Inc City of Miami Beach N/A Other Private Investor Denise L. Ben -David, Attorney 8 Public Records Sale 11/3/2025 55,900,000 All Cosh 55,900,000 $0 $5,900,000 E1112 Price/ac and /sf $5,900,000 $13,807,629 / $316.97 514 of 2180 CBRE Sale Land - Mixed -Use No. 8 S316.97 / sf $60,204 / Unit S13,807,629.30 / ac $60,204 / Allowable Bldg Units $50.95 / Building Area No information recorded This comparable land sale is a former Chase branch bank located along the north side of 71st Street on Mai Monide St Normandy Isle in the City of Miami Beach, Florida The seller acquired the property in April 2001 for $600,000 as improved with a 1 ,136-SF bank building that dates back to 1981 . The City of Miami Beach paid 'all cosh' for the site and has plans to issue an development RFQ for a 235-foot, 98-unit residential tower for tenants earning up to 80 percent of the area median income (AMI). The proposed 934 0 development is based on density & height incentives under the Live Local Act The Live Local Act allows 0 Map data 2025 Google the development to exceed local height and density zoning regulations to build multifamily on commercial -zoned sites without a public hearing, as long as at least 40% of the units are workforce housing. 515 of 2180 CBRE Addenda Addendum B Legal Description 516 of 2180 LEGAL DESCRIP770N: A PARCEL OF LAND LYING IN SECTION 34, TOWNSHIP 53 SOUTH, RANGE 42 EAST, ALSO BEING A PORTION OF THE LANDS KNOWN AS MIAMI BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COURSE PER THE BOUNDARY SURVEY PREPARED BY FR ALEMAN & ASSOCIATES, SIGNED BY FRANK PARUAS, DATED DUNE 10,2016, LYING AND BEING IN THE C17-Y OF MIAMI BEACH, MIAMI-DADE COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT A FOUND IRON ROD (NO IDEN77FICAT70N) MARKING THE NORTHEAST CORNER OF LOT 13 OF THE PLAT 777LED "RESUBDIVISION OF BLOCK 71-A ISLAND VIEW ADDITION' PER PLAT BOOK 40, PAGE 12 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY; THENCE RUN S815734 E FOR 9242 FEET TO A FOUND MAG-NAIL (NO IDENTIFICATION), SAID POINT BEING ON THE EASTERLY RIGHT-OF-WAY LINE OF NORTH MICHIGAN AVENUE (A 70 FOOT WIDE PUBLIC RIGHT-OF-WAY PER SAID PLAT BOOK 40, PAGE 12, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY), SAID POINT ALSO BEING A POINT OF CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 2724 22`, A CHORD BEARING OF S45 05'41 "E, A CHORD DISTANCE OF 50.79 FEET, AN ARC DISTANCE OF 51.28 FEET TO A POINT SAID POINT BEING THE SOUTHEAST CORNER OF AN EASEMENT DESCRIBED IN A SKETCH PREPARED BY KCI, SIGNED BY BENJAMIN HOnE AND DATED 1112412020, AND THE POINT OF BEGINNING THENCE DEPARTING SAID RIGHT-OF-WAY LINE RUN NOl'4625"W ALONG THE EAST LINE OF SAID EASEMENT FOR 25.13 FEET TO A POINT ON A NON -TANGENT CURVE 20 FEET NORTHERLY OF AND PARALLEL WITH THE NORTHERLY RIGHT-OF-WAY LINE OF DADE BOULEVARD (A VARIABLE WIDTH PUBLIC RIGHT OF -WAY), SAID CURVE HAVING AN 87.20 FOOT RADIUS CONCAVE TO THE NORTH; THENCE RUN EASTERLY ALONG SAID PARALLEL CURVE THROUGH A CENTRAL ANGLE OF 7127'03" A CHORD BEARING OF S852959 E, A CHORD LENGTH OF 101.83 FEET, AN ARC DISTANCE OF 108.74 FEET TO A POINT OF TANGENCY. THENCE CONTINUE ALONG A LINE 20 FEET NORTHERLY OF AND PARALLEL TO SAID NORTHERLY RIGHT OF WAY OF DADE BOULEVARD, N584630 E FOR 652.77 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY LINE OF NORTH MERIDIAN AVENUE (A 70 FOOT WIDE PUBLIC RIGHT-OF-WAY PER PLAT BOOK 30, PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY); THENCE RUN ALONG SAID WESTERLY RIGHT-OF-WAY LINE S22'3720"W FOR 1.26 FEET TO A POINT OF CURVATURE OF A 100.00 FOOT RADIUS CURVE CONCAVE TO THE NORTHWEST, THENCE CONTINUE SOUTHWESTERLY ALONG SAID RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 3609'09' A CHORD BEARING OF S40 41 '55 "W, A CHORD LENGTH OF 62.05 FEET, AN ARC DISTANCE OF 63.10 FEET TO A POINT ON THE NORTHERLY RIGHT-OF-WAY LINE OF SAID DADE BOULEVARD AND A POINT OF TANGENCY- THENCE RUN ALONG SAID NORTHERLY RIGHT-OF-WAY LINE S584630"W FOR 592.76 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LINE OF SAID NORTH MICHIGAN AVENUE AND A POINT OF CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORTH; THENCE RUN WESTERLY ALONG SAID EASTERLY RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 622538" A CHORD BEARING OF S89 59'19"W, A CHORD LENGTH OF 111.11 FEET, AN ARC DISTANCE OF 116.80 FEET TO THE POINT OF BEGINNING. CONTAINING 14,925 SQUARE FEET (0.34 ACRES) MORE OR LESS. SKETCH NO TES 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY RIGHT—OF—WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING S3123'30 E AS SHOWN ON THE FR ALEMAN & ASSOCIATES SURVEY, SIGNED BY FRANK PARUAS, DATED JUNE 10, 2016. 2. LANDS SHOWN HEREON WERE NOT ABSTRACTED RIGHTS —OF —WAY, EASEMENTS, OWNERSHIP, ADJOINERS OTHER INSTRUMENTS OF RECORD. 3. THIS SKETCH MEETS THE APPLICABLE STANDARDS PRACTICE" AS SET FORTH BY THE FLORIDA BOARD PROFESSIONAL SURVEYORS AND MAPPERS IN 5J17.050—. 052, FLORIDA ADMINISTRATIVE CODE. 4. THIS IS NOT A BOUNDARY SURVEY. FOR REVISION PRIOR TO FINAL ISSUE XX/XX/XX OR KRIS77E KAJFASZ DATE PROFESSIONAL SURVEYOR & MAPPER OF LICENSE NUMBER LS 7116 OF NOT VALID WTHO/T THE ORIGINAL 90YAIURE AND RAISED SEAL OR AN RULE ELECTRONIC SIGNATURE OF A FLORIDA UC£NSED SURWYW AND MAPPER. N � 4� 2 t o SITE NORTH It! MICHIGAN o AVENU a e 17TH ST-Z 2 � W $ WCINI TY MAP (NOT TO SCALE) LEGEND: —R;; LINE BREAK PC POVNT OF CURVATURE PT PGYNT OF TANGENCY R RIGHT OF WAY BOOK BOL PG(S) PAOCE(S) 50. FT. SQUARE FEET AC ACRESFAT C FLORIDA DEPARTMENT OF TRAN ORTA PON �. FOUND MAC -NAIL QO FOUND NAIL & DISK O FOUND IRON PIPE FOUND IRON ROD ® EASEMENT SHEET INDEX.• SHEET 1: VICINITY MAP, NOTES, LEGAL DESCRIPTION SHEETS 2-4: SKETCH OF DESCRIP77ON PRELIMINARY NOT FOR PROPERTY CONVEYANCE INFORMATION SHOWN HEREON IS SUBJECT TO (SEE SHEETS 2-4 FOR SKETCH OF DESCR/PRON) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 1 OF 4 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC FPL EASEMENT SMEY NO MURM LOCATED IN 1001 TOWN PLAZA COURT, SUITE 1032 S GC SECTION 34, TONNSHIP 53 SOUTH, RANGE 42 EAST WINTER SPRINGS, FLORIDA 32708 MIAMI-DADE COUNTY, FLORIDA PHONE: (800) 581-4031 PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLOROA POWER & LIGHT DATE: 05/08/2025 SCALE: 1" = 40' DRAWN: SAS FOUND NAIL & DISK (FDOT R/W) FOUND I' IRON PIPE (FD0T R/W) EAVERL Y R/W G -o LINE TABLE LINE BEARING LENGTH L 1 N I'4615 "W 25. I J' LJ N6153'J5 E 700' \ J_�INE OF NORTH CURVE TABLE CURVE LENGTH RADIUS DELTA CHORD BEARING Cl 4.30' 75.00 003'17'05' 4.30' S29 44 57 E C2 51.18' 10720 02724 22" 50. 79' S45 V5 "41 E C3 108.74' 87.20 071Z703" IX83' S857959E C5 I 116W' 107.20 0622538" 111.11' 58959'19-W �n�, MICHlGAN AVENUE 20' U7ILITY EASEMENT PER KCI SKETCH AND DESCRIP77ON 511900148 SD-AV_PERM_HDD_EAST-GOLF_COURSE.PDFI NO RECORDING INFO AVAILABLE IN PUBLIC RECORDS it FOLIO 02-3227-000-0100 FOLIO CITY OF MIAMI BEACH 02-3234-001-0130 \ EAST LINE OF KCI ALTON POINTE LLC_ UTILITY EASEMENT N5846'30 "E 652.77' FOL/o PG FPL EA SEMEN T 02-3234-001-0120 Lu AL TON POINTE LLC (t0.34 AC, f14,925 50. FF.) ? LOT 13 ��' o PL AT BOOK 40, POINT OF COMMENCEMEN T PAGE 12 NORTHEAST CORNER OF LOT 13 PLAT BOOK 40, PAGE 12 C NFOUND 1/2" IRON ROD (NO ID) -� N. 532165. 86 , E.• 939392. 95' POINT OF BEGINNING SOUTHEAST CORNER OF EASEMENT PREPARED BY KC/ TECHNOLOGIES, INC. SIGNED BY BENJA MIN HOYLE, DA7E0 1112412020 NO RECORDING INFORMA77ON AVAILABLE. N. 532117.08, E.• 939520.44' 0 20 40 I INCH - 40 FEET PT C3 P C NOR THERL Y R/W J LINE OF DADE BL VD, S58 46'30 "W 592.76'- � PR\Pe�E SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY SKETCH OF DESCRIPTION OF FPL EASEMENT LOCATED IN SECTION 34, TONNSHA° 53 SOUTH, RANGE 42 EAST MUN UMI-DADE COUNTY, FLORIOA DPr-DAaGn r IP FLORIDA POWER & LIGHT SGC LL SURVEY AAD WPM 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE: (800) 5814031 WWW.SGCSURVEY.COM LB 7979 DATE: 05/08/2025 SCALE: 1" = 40' SHEET 2 OF 4 GC DRAWN: SAS FOLIO.• 02-3227-000-0100 ORB N/A, PG N/A CITY OF MIAMI BEACH 0 P 01) �J PR\p,0 SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF FPL EASEMENT LOCATED A4 SECMIN 34. rOW6 W 5J SOUTH, RANG 42 EAsr ANAAN-DADS COUNTY, FL"A DDCDADCII CnD- FLORIDA POWER & LIGHT FPL EASEMENT (t 0. 34 AC, ± 14, 925 SO, FT.) THIS IS NOT A SURVEY. SGC ENGINEERING, LLC SURVEY AAD MAPPEW 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE (800) 581-4031 WWW.SGCSURVEY.COM LB 7979 IZ NOR THERL Y R/W I v LINE OF DADE BLVD. I� I N I I I w I I I f INCH - 40 FEET I I SHEET 3 OF 4 SGC DATE: 05/08/2025 SCALE: 1" = 40' DRAWN: SAS 00 LAJ T ti CURVE TABLE CURVE LENGTH RADIUS DEL TA I CHORD BEARING C4 6J.10' 100.00 036 V9'09" 1 62.06' S40 4155 "W LINE TABLE LINE BEARING LENGTH L2 527J720'W 1 1.26' FPL EASEMENT (1-0. 34 AC, 114,925 SO. FT.) FOLIO 02-3227-000-0100 ORB N/A, PG N/A , CITY OF MIAMI BEACH 11 C 652 6 �g2 � SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF FPL EASEMENT LOCATED AV SEC110V 34, rOON570D 53 SOUTH, RAND 42 EAST A/IAMI-DADE COUNTY, FLORIDA PREPARED FOR. FLORIDA POWER & LIGHT AJj / '--L2 D� WESTERLY R/W LINE OF NORTH MERIDIAN A VENUE PT NOR THERL Y R/W LINE OF DADE BLVD. THIS IS NOT A SURVEY. SGC ENGINEERING. LLC SURVEY AM M4PMVG 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE (800) 581-4031 WWW.SGCSURVEY COM LB 7979 0 20 40 1 /NCH - 40 FEET SHEET 4 OF 4 SGC DATE 05/08/2025 SCALE 1" = 40' DRAWN' SAS LEGAL DESCRIPTION: A PARCEL OF LAND LYING IN SEC77ON 34, TOWNSHIP 53 SOUTH, RANGE 42 EAST, ALSO BEING A PORTION OF THE LANDS KNOWN AS MIAMI BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COURSE PER THE BOUNDARY SURVEY PREPARED BY FR ALEMAN & ASSOCIATES, SIGNED BY FRANK PARUAS, DATED JUNE 10,2016, LYING AND BEING IN THE CITY OF MIAMI BEACH, MIAMI-DADE COUNTY, FLORIDA AND BEING MORE PAR77CULARLY DESCRIBED AS FOLLOWS: COMMENCE AT A FOUND IRON ROD (NO IDEN7IFICA770N) MARKING THE NORTHEAST CORNER OF LOT 13 OF THE PLAT 7771ED R£SUBDIVISION OF BLOCK 11-A ISLAND VIEW ADDITION" PER PLAT BOOK 40, PAGE 12 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, 774ENCE RUN S8157'34 E FOR 92.42 FEET TO A FOUND MAC -NAIL (NO IDEN7IFICA770N) ON THE EASTERLY RIGHT-OF-WAY LINE OF NORTH MICHIGAN AVENUE (A 70 FOOT WIDE PUBLIC RIGHT-OF-WAY PER PLAT BOOK 40, PAGE 12, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY), SAID POINT ALSO BEING THE NORTHWEST CORNER OF AN EASEMENT DESCRIBED IN A SKETCH PREPARED BY KCI, SIGNED BY BENJAMIN HOYLE AND DATED 1112412020, AND THE POINT OF BEGINNING; THENCE RUN ALONG SAID RIGHT-OF-WAY N3173'30"W FOR 108.73 FEET' THENCE DEPAR77NG SAID RIGHT-OF-WAY LINE, RUN ALONG SAID WES7ERL Y EASEMENT LINE THE FOLLOWING F7VE (5) COURSES: (1) N58'41'08 E FOR 4.10 FEET TO A POINT OF CURVATURE OF A 10.00 FOOT RADIUS CURVE CONCAVE TO THE SOUTH; (2) THENCE RUN EASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 8770 27" A CHORD BEARING OF S77'38'38"E, A CHORD LENGTH OF 1381 FEET, AN ARC DISTANCE OF 15.24 FEET TO A POINT OF TANGENCY, (3) THENCE RUN S335825 E FOR 85.34 FEET TO A POINT OF CURVATURE OF A 4000 FOOT RADIUS CURVE CONCAVE TO THE WEST (4) THENCE RUN SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 3272'00', A CHORD BEARING OF S1752 25 E A CHORD LENGTH OF 22.19 FEET AN ARC DISTANCE OF 22.48 FEET TO A POINT OF TANGENCY, (5) THENCE RUN SOl 46 25 E FOR 19.84 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LINE OF SAID NORTH MICHIGAN AVENUE, SAID POINT ALSO BEING ON A 10720 FOOT RADIUS NON -TANGENT CURVE CONCAVE- TO THE NORTHEAST - THENCE RUN NORTHIWS7ERLY ALONG SAID RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF-137544" A CHORD BEARING OF N38V622"W, A CHORD LENGTH OF 25.07 FEET, AN ARC DISTANCE OF 25.13 FEET TO THE POINT OF BEGINNING. CONTAINING 1,942 SOUARE FEET (0.04 ACRES) MORE OR LESS. N � s � SITE NORTH MICHIGAN �v AVENUE 1 TH S T Z 2 a R U KCINI TY MAP (NOT TO SCALE) LEGEND: —4— LINE BREAK PT PANT OF >AN ENCy R/8 RIGHTWAY 4RECORDS 2;( LYPO BOOK PAGE(S) S0. FEET 4AC CC T $£��ARE O D£PAR740VT Q OF FOUND MAAPCA-NAK QO FOUND NAIL & DISK O FOUND IRON PIPE FOUND IRON ROD EASEwENT SKETCH N0 TES: 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY RIGHT-OF-WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING S3123'30 E AS SHOWN ON THE FR ALEMAN & ASSOCIATES SURVEY, SIGNED BY FRANK PARUAS, DATED JUNE 10, 2016. PRELIMINARY 2. LANDS SHOWN HEREON WERE NOT ABSTRACTED FOR RIGHTS -OF -WAY, EASEMENTS, OWNERSHIP, AOJOINERS OR OTHER NOT FOR PROPERTY CONVEYANCE INSTRUMENTS OF RECORD. INFORMATION SHOWN HEREON IS SUBJECT TO REVISION PRIOR TO FINAL ISSUE XX/XX/XX 3. THIS SKETCH MEETS THE APPLICABLE "STANDARDS OF PRACTICE" KRIS77E KAJFASZ DATE - AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL PROFESSIONAL SURVEYOR & MAPPER SURVEYORS AND MAPPERS IN RULE 5J17.050-.052, FLORIDA LICENSE NUMBER LS 7116 ADM/NISTRA 77 VLF CODE. NOT VALID NITNOUT 7HE OR NAL SIGNATURE AND RAISED SEAL OR AN £LEC7ROwC SIGNATURE OF A RORIDA LICENSED WRWYOR AND MAPPER. 4. THIS IS NOT A BOUNDARY SURVEY. (SEE SHEET 2 FOR SKETCH OF DESCRIPTION) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 1 OF 2 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC TEMPORARY CONSTRUCTION SMEYAAD M4ppRW EASEMENT 1001 TOWN PLAZA COURT, SUITE 1032 LOCATED W WINTER SPRINGS, FLORIDA 32708 SECn0N 34, 701019W V SOUTH, RANGE 42 EAST GC MIAMI-DADE COUNTY, RGRIDA PHONE (00) 581-4031 PREPARED FOR: WWW SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT DATE: 05/08/2025 SCALE 1" = 40' DRAWNSAS FOUND NAIL & DISK (FDOT R/W) FOUND I' IRON PIPE (FD0T R/W) T C EAS7ERL Y R/W LINE OF NORTH MICHIGAN AVENUE v w C2 CURVE TABLE CURVE LENGTH RADIUS DELTA CHORD BEARING Ct 4,30' 75.00 OOJ77105' 4.30' S29'44571E C2 1124' 10.00 087'2027' IJ81' S77J8J8E CJ 2248' 40.00 03272*00' 22.19' S173225'E C4 25.13' 107.20 013?544' 25.07' N381)6'22'W O O c2 TEMPORARY PT CONSTRUCTION EASEMENT � (10.04 AC, t 1, 942 SO, FT.) G WEST LINE OF KCI U77L/TY EASEMENT POINT OF \ r BEGINNING j N: 532152.95' E.- 939484.47' FOLIO 02-3234-001-0130 AL TON POIN7E LLC S8137,7=92 4? Facto POINT OF PT 02-3234-001-0120 AL TAN POINTE LLC COMMENCEMENT NORTHEAST CORNER OF LOT 13 LOT 13 PLAT BOOK 40, PAGE 72 PLAT BOOK 40, FOUND 1/2" IRON ROO (NO ID) PAGE 12 N N: 532165.86 , E: 939392. 95' i i 0 20 40 I INCH 40 FEET SKETCH OF DESCRIPTION ONLY SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION EASEMENT LOCATED IN SECTION J4, TOMNS?NP 53 SOUTH, RANGE 42 EAST IMAMI-DADS COUNTY, FLORVA PREPARED FOR: FLORIDA POWER & LIGHT 1U 7P T LINE TABLE LINE BEARING LENGTH Ll NJ12JJ0'W 1087J' 1-2 N581I106 E 4.10' LJ SJJ'58251 85.34' L4 S14625 E 19.84' 20' U77LITY EASEMENT PER KCI SKETCH AND DESCRIP77ON 511900148 SO -AV PERM-I00-EAST--GOLF COURSEPOF NO RECORDING INFO AVAILABLE IN PUBLIC RECORDS FOLIO 02-3227-000-0100 OTY OF MIAMI BEACH Rx107o, C �8'9 S7578. cy->•s,,� E 0 PPR�PB \G � Ill THIS IS NOT A SURVEY. SGC ENGINEERING, LLC SURVEY AND MAPPM 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE (800) 5814031 WWW SGCSURVEY COM LB 7979 DATE: 05/08/2025 SCALE: 1" = 40' SHEET 2 OF 2 GC DRAWN: SAS LEGAL DESCRIPTION: A PARCEL OF LAND LYING IN SECTION 34, TOWNSHIP 53 SOUTH, RANGE 42 EAST, ALSO BEING A PORTION OF THE LANDS KNOWN AS MIAMI BEACH GOLF CLUB, FORMERLY BAYSHORE GOLF COURSE PER THE BOUNDARY SURVEY PREPARED BY FR ALEMAN & ASSOCIATES, SIGNED BY FRANK PARUAS, DATED JUNE 10,2016, L 14NG AND BEING IN THE CITY OF MIAMI BEACH, MIAMI-DADE COUNTY, FLORIDA AND BEING MORE PAR77CULARL Y DESCRIBED AS FOLLOWS., COMMENCE AT A FOUND IRON ROD (NO IDEN77FICA770N) MARKING THE NORTHEAST CORNER OF LOT 13 OF THE PLAT 777L£D "RESUBDINSION OF BLOCK 11-A ISLAND VIEW ADDI77ON' PER PLAT BOOK 40, PAGE 12 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY; THENCE RUN S815734 E FOR 92.42 FEET TO FOUND MAG-NAIL (NO IDEN77FICAT70N) SAID POINT BEING ON THE EASTERLY RIGHT-OF-WAY LINE OF NORTH MICHIGAN AVENUE (A 70 FOOT WIDE PUBLIC RIGHT-OF-WAY PER SAID PLAT BOOK 40, PAGE 12, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY), SAID POINT ALSO BEING A POINT OF CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST AND A CHORD BEARING OF S45 05'41 E AND A CHORD DISTANCE OF 50.79 FEET THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 277422", AND AN ARC DISTANCE OF 51.28 FEET TO A POINT OF NON -TANGENCY SAID POINT ALSO BEING THE SOUTHEAST CORNER OF AN EASEMENT DESCRIBED IN A SKETCH PREPARED BY KCI, SIGNED BY BENJAMIN HOYLE AND DATED 1112412020, AND THE POINT OF BEGINNING- THENCE DEPAR771VG SAID RIGHT-OF-WAY LINE, RUN ALONG SAID EASTERLY EASEMENT LINE N014625•W 36.59 FEET TO A POINT OF A 60.00 FOOT RADIUS CURIE CONCAVE TO THE WEST THENCE RUN NORTHERLY ALONG SAID CURVE AND SAID £A57ERL Y EASEMENT LINE THROUGH A CENTRAL ANGLE OF 0144 24" A CHORD BEARING OF N030837'W, A CHORD LENGTH OF 2.87 FEET, AN ARC DISTANCE OF 2.87 FEET TO A POINT ON A NON -TANGENT CURVE PARALLEL TO AND 30 FEET NORTHERLY OF THE NORTHERLY RIGHT-OF-WAY LINE OF DADE BOULEVARD (A 65 FOOT WIDE PUBLIC RIGHT-OF-WAY PER PLAT BOOK 6, PAGE 115, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY), SAID CURIE HAVING A 77.20 FOOT RADIUS AND BEING CONCAVE TO THE NORTH; THENCE RUN EA57ERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 78'37'27' A CHORD BEARING OF 5815447"E, A CHORD LENGTH OF 97.82 FEET AN ARC DISTANCE OF 105.94 FEET TO A POINr OF TANGENCY ON A LINE 30 FEET NORTHERLY OF AND PARALLEL WITH SAID RIGHT-OF-WAY LINE,' THENCE CONANUE ALONG SAID PARALLEL LINE N5846'30E 27753 FEET; THENCE DEPAR77NG SAID PARALLEL LINE, RUN N3373'19•W 68.21 FEETTHENCE RUN N6339'18E 76.41 FEET. THENCE RUN N5835'01 E 71.31 FEET TO A POINT ON A 119.91 FOOT RADIUS NON -TANGENT CURVE CONCAVE TO THE NORTHWEST • THENCE NORTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 5476'09', A CHORD BEARING OF N6606'16 E A CHORD LENGTH OF 109.69 FEET, AN ARC DISTANCE OF 113.93 FEET TO A POINT OF NON -TANGENCY- THENCE RUN N362630T: 79.42 FEET, THENCE RUN N6375'001= 29.12 FEET; THENCE RUN N62 31 '49 F J7.54 FEET,- THENCE RUN N6730'001= 41.18 FEET, THENCE RUN S7234'181: 2710 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY LINE OF NORTH MERIDIAN AVENUE (A 70 FOOT WIDE PUBLIC RIGHT-OF-WAY PER PLAT BOOK 30, PAGE 19, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY), THENCE RUN ALONG SAID WESTERLY RIGHT-OF-WAY LINE S2237'20'W 96.57 FEET TO A POINT OF CURVATURE OF A 100.00 FOOr RADIUS CURVE CONCAVE TO THE NORTHWEST,' THENCE CON77NUE SOUTHWESTERLY ALONG SAID RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 3609'09', A CHORD BEARING OF S4041'55'W, A CHORD LENGTH OF 62.06 FEET AN ARC DISTANCE OF 63.10 FEET TO A POINT ON THE NORTHERLY RIGHT-OF-WAY LINE OF SAID DADE BOULEVARD AND A POINT OF TANGENCY, THENCE RUN ALONG SAID NORTHERLY RIGHT-OF-WAY LINE S584630"W FOR 592.76 FEET TO A POINT ON THE EASTERLY RIGHTOF-WAY LINE OF SAID NORTH MICHIGAN AVENUE AND A POINT OF CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORTH, THENCE RUN WESTERLY ALONG SAID EASTERLY RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 6275 38 , A CHORD BEARING OF S8959'19 "W, A CHORD LENGTH OF 111.11 FEET, AN ARC DISTANCE OF 116.80 FEET TO THE POINT OF BEGINNING. CONTAINING 48,717 SQUARE FEET (1.12 ACRES) MORE OR LESS. SKETCH NOTES N Q �a s SITE NORTH MICHIGAN AVENUE < � 17TH ST a �_ z i � O U z W < OCINI TY MAP (NOT TO SCALE) LEGEND: —4— LINE BREAK PT POINT OF AN ENCR£ RA RICH OF WAY Oq8 PG(S) OFFICIRECORDS BOOK PPpAUG£(S) SO.ggAC FEET AS�C�REE FDOT FLORIDA DEPARTMENT O OU 0 MACD NrA'Inav @O FOUND NAIL & DISK C FOUND IRON PIPE FOUND IRON ROD ® EASEMENT SHEET INDEX SHEET 1: OCINl TY MAP LEGAL DESCRIP77ON SHEETS 2-4: SKETCH NOTES, OF DESCRIP77ON N kyj , iila-Lyj 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY NOT FOR PROPERTY CONVEYANCE RIGHT-OF-WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING INFORMATION SHOWN HEREON IS SUBJECT TO S3123'30 E AS SHOWN ON THE FR ALEMAN & ASSOCIATES SURVEY, REVISION PRIOR TO FINAL ISSUE XX/XX/XX SIGNED BY FRANK PARUAS, DATED JUNE 10, 2016. KRIS77E KAJFASZ DATE 2. LANDS SHOWN HEREON WERE NOT ABSTRACTED FOR RIGHTS -OF -WAY, PROFESSIONAL SURVEYOR & MAPPER EASEMENTS, OWNERSHIP, ADJOINERS OR OTHER INS7RUMENTS OF RECORD. LICENSE NUM8ER LS 7116 3. THIS SKETCH MEETS THE APPLICABLE "STANDARDS OF PRACTICE" ASSET Nor vALIO wTHOU r RV£ ORIGINAL gGNATVRE AND RAlso SEAL OR AN FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND ELECIRCWIC SIGNATURE OF A FLORIDA LIL£IVIVSED SURVEYOR AND MAPPER. MAPPERS IN RULE 5,117.050-.052, FLORIDA ADM1NISTRA77VE CODE. 4. THIS IS NOT A BOUNDARY SURVEY (SEE SHEETS 2-4 FOR SKETCH OF DESCRIPTION) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY SHEET 1 OF 4 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC TEMPORARY CONSTRUCTION SURVEY AND M4PPM EASEMENT 1001 TOWN PLAZA COURT, SUITE 1032 S G C LOCATED IN WINTER SPRINGS, FLORIDA 32708 SECTION 34, TOWVSW 53 SOUTH, RANGE 42 EAST PHONE: 800 581 4031 MIAMI-DADE COUNTY, RORIDA PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT DATE' 05/08/2025 SCALE: 1" = 40' DRAWN SAS 1 FOUND NAIL & DISK (FDOT R/W) FOUND I' IRON PIPE FDOT R r T CURVE TABLE CURVE LENGTH RADIUS DELTA CHORD BEARING Cl 4.30' 75.00 OOJ77'05" 4.30' 529 4457'E C2 51.28' 10720 0277422' 50.79' S45054FT CJ 2 87' 60.00 002 44 24' 2 87' NOJT78 37'W C4 105.94' 7720 078J727' 9782' S815447E C7 116.80' 10710 0617538" 111.11' S8959'19'W LINE TABLE LINE BEARING LENGTH L1 NI46 25"W 36.59' EASTERL Y R/W 20' ULITY EASEMENT PER LINE OF NORTH KCI SKETCH AND DESCRIP77ON f \ MICHIGAN AVENUE 511900148 SD -AV PERM-HOO-EAST--GOLF COURSE.POJ \ \ NO RECORDING INFO AVAILABLE /N PUBLIC RECORDS s '33 N TEMP ORAR Y I CONSTRUCTION EASEMENT (f1.12 AC, ±48,717 SO. FT.) EASTERLY LINE OF KCI FOLIO O �Z ✓ \ UTILITY EASEMENT 02-3234-001-0130 y G \ FOLIO 02-3227-000-0100 I Q ALTON POINTE LLC C� CITY OF MIAAII BEACH --- --�-�S8157a4. �1 --`9? 4?' N58'46'30 "E 277.53' FOLIO PC II U V 02-3234-001-0120 1 P ALTON POINTE LLC C4 wo LOT 13 cl PLAT BOOK 40, PAGE 12 POINT OF COMMENCEMENT NORTHEAST CORNER OF LOT 13 PLAT BOOK 40, PAGE 12 FOUND 1/2" IRON ROD (NO ID) N N: 532165. 86 , E.• 939392, 95' POINT OF BEGINNING SOUTHEAST CORNER OF EASEMENT PREPARED BY KCI TECHNOLOGIES, INC. SIGNED BY BENJAMIN HOYLE, DATED 1112412020 NO RECORDING INFORMATION AVAILABLE N: 53211ZO8', E.• 939520.44' 0 20 40 1 INCH - 40 FEET / , I C7 I 558 46'30 "W 592.76' I NOR THERL Y R/W LINE OF DADE BL VD. \p' SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY SHEET 2 OF 4 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC TEMPORARY CONSTRUCTION "YEYAAD AUppM EASEMENT 1001 TOWN PLAZA COURT, SUITE 1032 S GC LOCAIFD IN WINTER SPRINGS, FLORIDA 32708 SEC70V 34, TOWNSHIP 53 SOWN, RANGE 42 EAST PHONE: 800 581�031 1(IAYI-DADE COVNTY, FLORIDA PREPARED FOR: WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT DATE: 05/08/2025 SCALE: 1" = 40' DRAWN: SAS i I I I I I i I I I I I I �I ?I I I i I I I I I FOLIO. 02 - 322 7- 000 - 0100 CITY OF M/AM/ BEACH c' 0 pA pP 0 NOR THERL Y R/W LINE OF DADE BLVD. SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION EASEMENT LOCA IED kV SEODV 34, 1'UMN&W 53 SOU7N, RAM,E 41 EAST WAW-DADS COUNrY. FLORIDA PREPARED FOR. FLORIDA POWER & LIGHT N5835'01 "E 71. 31 ' TEA,lPOf'AkY" " " / / C'Milt/ r.ir nfnAl /�A f-1 ir THIS IS NOT A SURVEY. SGC ENGINEERING, LLC SURVEY AND MAPPRW 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS. FLORIDA 32708 PHONE (800) 581-4031 WWW SGCSURVEY.COM LB 7979 0 10 40 1 INCH . 40 FEET SHEET 3 OF 4 G C DATE: 05/08/2025 SCALE: 1" = 40' DRAWN: SAS IN CURVE TABLE CURVE LENGTH RADIUS DELTA CHORD BEARING C5 11J 93' 119.91 05476'09' 109.69' 1V66t*'16'E C6 6310' 100.00 036V9'09' 6206' S40'41'55'W LINE TABLE LINE BEARING LENGTH L2 N6J75'00i 29.12' LJ N6231'49E J754' 14 N67'JO'00'E 41.19' LS 57234'18f 2710" FOLIO 02-3227-000-0100 CJTY OF MIAMI BEACH SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION EASEMENT LOCAIW Av SEC710N J4. TOWNW 5J SOUIN. RANGE 41 EAST MAW-OAOE COUNTY, RORMA PREPARED FOR: FLORIDA POWER & LIGHT OESTERL f R/W LINE OF NORTH MERIDIAN AVENUE NOR THERL Y R/W LINE OF DADE BL VD. THIS IS NOT A SURVEY SGC ENGINEERING. LLC SURVEY AND MAPPM 1001 TOWN PLAZA COURT, SUITE 1032 WINTER SPRINGS, FLORIDA 32708 PHONE: (800) 581-4031 WWW.SGCSURVEY.COM LB 7979 0 20 40 1 W1CH - 40 FEET SHEET 4 OF 4 SGC DATE 05/08/2025 SCALE: 1" = 40' DRAWN SAS Addenda Addendum C Client Contract Information 527 of 2180 Docusign Envelope ID: D3DBECDD-D4A8-4E87-9D51-1D6E20SE1DOF CORE, Inc. 777 Brickell Ave. Ste, 1100 Miami. Ft. 33131 www.Cbr.,us/V4IU*t10" October 27, 2025 ftuwrt Uebormmn. MAI VAS • Vice President John C Norris Director, Public Works CITY OF MIAMI BEACH, FLORIDA 1700 Convention Center Drive, 4th Floot Miami Beach, FL 33139 Phone 305.673-7080 Email: Iohnnorris@miamibeachfi.gov RE_ Assignment Agreement I CB25US111339 FPL Transmission Protect -- Temporary & Permanent Easements - 30382 - FPL Venetian Roney Miami Beach Golf Course at approximately 1900 N Michigan Avenue, Miami Beach, FL 33139 Dear Norris. CBRE, Inc (CBRE-) is pleased to submit this proposal and our Terms and Conditions for this assignment. PROPOSAL SPECIFICATIONS Purpose To estimate the fee simple and easement estate Fair Market Value and Annual Market Rent of the Proposed temporary and permanent easements on or across the above referenced real estate Premise: As Is Rights Appraised: Fee Simple and Easement Estate Intended Use: Due diligence, and Internal decision making for negotiating temporary and permanent easements Intended User: The intended. user is CITY OF MIAMI BEACH ("Client-1 and such other parties and entities Cif any) expressly recognized by CBkE as intended users (each an "Intended Users" and collectively the "Intended Users) provided that any Intended User's use of, and reliance upon, any report produced by CBRE under this Agreement shall be subject to the Terms and Conditions attached hereto and incorporated herein (including, without limitation, any limitations of liability set forth in the attached Terms and Conditions). Reliance- Reliance on any reports produced by CBRE under this Agreement is extended solely to parties and entities expressly acknowledged in a signed writing by CBRE as Intended Users of the respective reports, provided that any conditions to such acknowledgement required by CBRE or hereunder have been satisfied. Parties or entities other than Intended Users who obtain a copy of the report 528 of 2180 Docusign Envelope ID D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF or any portion thereof, whether as a result of its direct dissemination or by any other means, may not usp or rely upon any opinions or conclusions contained in the report or such portions thereof, and CBRE will not be respnnsibte for any unpermitted use of the report, its conclusions or contents or have any liability in connection therewith. Unless otherwise expressly identified in this Agreement, there are no third -party beneficiaries of this Agreement pertaining to this appraisal assignment or any reports produced by CBRE under this Agreement, and no other person or entity shall have any right, benefit of interest under this Agreement or with respect to any reports produced by CBRE under this Agreement Scope of Inspection A full interior and exterior inspection of the property *YiC be conducted and arranged with the property contact and performt!d by CHRF Valuations. if this expected property inspection is not possible due to unforeseen issues (such as lack of on - site personnel cooperation, physical obstructions, or appraiser/property contact health and safety concerns), the client will be promptly advised. The client may continue this assignment based on utltro n+slarc.liu+ uirtiuti, ayt.:i;d ut.vr+ by CCRt. and client or. provide CDR[ with a written notice to cancet If CBRE determines that a credible appraisal result cannot be achieved due to inspection limitations, it will promptly provide the client with a written cancellation of this assignment. Valuation Approaches: Sales Comparison and income Approaches to value will be employed. Report Type: Appraisal Report Appraisal Standards: VSPAP Appraisal Fee- $9,000.00 It cancelled by either party before a completion, the fee will be based on CBRE's hourly rates for the time expended. plus dctual expenses Expenses: Fee includes all associated expenses except to the extent otherwise provided in the attached Terms and Cunditions. Retainer. A retainer is not required for this assignment Payment Terms: Final payment is due :.popt"y nr +ha f�--t ;NPOwithin thirty (30) days of your receipt of JM`tjlcfasfkreport# The full appraisal fee is considered earned upon delivery of (tom,, —the draft report. We will invoice you for the assignment in its entirety at the completion of the J� t assignment. AV Delivery Instructions: CBRE encourages our clients to join in our environmental sustainability efforts by accepting an electronic copy of the report. An Adobe PDF file via email will be delivered to John+it,eris(,rnithm+beacteti-gov.The client has requested 0 hound final copy (ies) Delivery Schedule Preliminary Value: Not Required 529 of 2180 Docusign Envelope ID: D3DBECDD-D4A8-4EB7-9D51-1D6E208EtDOF Draft Report Not Required Final Report 20 business days 14 weeks after the Start Date Start Date: The appraisal process will start upon receipt of your signed agreement and the property specific data. Acceptance Date These specifications are subject to modification or withdrawal if this proposal is not accepted within 5 business days from the date of this letter. When executed and delivered by all parties, this letter, together with the Terms and Conditions and the Specific Property Data Request attached hereto and incorporated herein, will serve as the Agreement for appraisal services by and between CORE and Client. Each person signing below represents that it is authorized to enter into this Agreement and to bind the respective parties, including all intended users, hereto. We appreciate this opportunity to be of service to you on this assignment If you have additional questions, please contact us. Sincerely. CBRE, Inc. Valuation 6 Advisory Services U / Stuart Lieberman, MAI VAS - Vice President As Agent for CBRE, Inc. T 305.381.6477 Stuart.LiebermanWbre.com Enclosures. PROPERTY LIST Property Name Property Location Miami Beach Golf Course 1900 N Michigan Ave. FasementlK pV V Miami Beach, FL 33139 Assigrinent Total: V< t'_ try A&Js ' Report Type Appraisal Report Appraisal Fees $9,000.00 530 of 2180 Docusign Envelope ID D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF AGREED AND ACCEPTED FOR CITY OF MIAMI REACH C°CLIf NT"): FYZby 110"4* 10/28/2025 15 09 PM EDT urr Date John C Norris Director Name I+tte 305-673- /080 Ptwxv Number ADDITIONAL OPTIONAL SERVICES johnnorris@miamibeachfl.gov F Kirl Address Assessment & Consulting Services: CBRE's Assessment & Consulting Services group has the capability of providing a wide array of solution -oriented due diligence services in the form of property condition and environmental site assessment reports. AL TA Surveys, and other necessary due diligence service (seismic risk analysis, zoning compliance service, construction risk management, annual inspections, etclinitial below if you desire CBRE to contact you to discuss a proposal for any part or the full complement of consulting services, or you may reach out to us at ACSProposelm*cbre.com We will route your request to the appropriate manager. For more information. please visit vww.cbrexom/assessment. 531 of 2180 Docusign Envelope ID D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF TERMS AND CONDITIONS I The Terms and Conditions herein are part of an assignment agreement (the "Agreement") for appraisal services C'Services') between CBRE, Inc ("CORE") and the client signing this Agreement and for whom the Services will be performed (the "Client-) for the property identified herein (the "Property") and shall he deemed a part of such Agreement as though fully set forth therein. In addition, with respect to any appraisal report prepared by CBRE pursuant to the Agreement (the "Report-), any use of, or reliance on the Report by any Intended User constitutes acceptance of these Terms and Conditions as well as acceptance of all qualifying statements, limiting conditions. and assumptions stated in the Report. The Agreement shalt be governed and construed by the laws of the state where the CORE office executing this Agreement is located without regard to conflicts of laws principles. 2. Client shall be. responsible for the payment of all fees stipulated in this Agreement. Payment of the fees and preparation of the Report are not contingent upon any predetermined value or on any action or event resulting from the analyses, opinions, conclusions, or use of the Report. Final payment is due as provided in the Proposal Specifications Section of this Agreement If a draft Report is requested, the fee is considered earned upon delivery of the draft Report. It is understood that the Client may cancel this assignment in writing at any time prior to delivery of the completed Report. In such event, the Client is obligated to pay CBRE for the time and expenses incurred (including, but not limited to, travel expenses to and from the job site) prior to the effective date of cancellation, with a minimum charge of $sod. Hard copies of the Reports are available at a cost of $250 per original color copy and $100 per photocopy (black and white), plus shipping fees of $30 per Report. 3. If CORE is subpoenaed or ordered to give testimony, produce documents or information, or otherwise required or requested by Client or a third party to participate in meetings, phone calls and conferences (except routine meetings, /\ phone calls and conferences with the Client for the sole purpose of preparing the Report), litigation, or other legal �hr proceedings (including preparation for such proceedings) because of, connected with or in any way pertaining to this assignment, the Report. CBRE's expertise, or the Property, Client shall pay CORE's additional out-of-pocket costs and expenses, including additional time incurred by CBRE based on J `� CORE's then -pre' v- aTng--hourly rates and related reesiSuch charges include and pertain to, but are not limited to, time ,l.v spent in preparing for and providing court room testimony, depositions. travel time, mileage and related travel expenses. `r 19, waiting time, document review and production, and preparation time (exckiding preparation of the Report), meeting participation, and CORE's other related commitment of time and expertise. Hourly charges and other fees for such 6V participation will be provided upon request. In the event Client requests additional Services beyond the scope and purpose stated in the Agreement, Client agrees to pay additional fees for such services and to reimburse related expen s, whether or pot the completed Report has been d liv red to Client at t ti a of such request A,*di tt tric Afr%J vl s'tirtt Iasi •' �i� Mtflt"1r W SM04�.t.glililb1e i.ri.�...f t. 1N•�. w it 1 4. CBRE shall have the right to terminate this Agreement at any time for cause effective immediately up"if written nuti, 06ePrN� to Client on the occurrence of fraud or the willful misconduct of Client, its employees or agents, or without cause upon 0{ days written notice. 5. In the event Client fails to snake payments when due then, from the date due until paid, the amount due and payable shall Pei, o �O bear interest at the maximum rate permitted in the state where the CBRE office executing this Agreement is located Il? EACH PARTY, AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL OF ITS CHOICE, KNOWINGLY �n04 �- AND VOLUNTARILY. WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION IN ANY WAY RELATED TO THIS AGREEMENT. C t SV� 6. CBRE assumes there are no major or significant items or issues affecting the Property that would require the expertise al of a professional building contractor, engineer, or environmental consultant for CBRE to prepare a valid Report hereunder Grd'�' Client acknowledges that such additional expertise is not covered in the fee and agrees that, if such additional expertise t,✓0f is required, it shall be provided by others at the discretion and direction of the Client, and solely at Client's additional cost and expense. 532 of 2180 Docusign Envelope ID: D30BECDD-D4A8-4E87-9D51-1D6E20BE1DOF Client acknowledges that CBRE is being retained hereunder as an indepeiident contractor to perform the Services described herein and nothing in this Agreement shall be deemed to create any other relatwnship between Client and CBRE. Unless otherwise stated in this Agreement, Client shall not designate or disclose CBRE or any of its agents or employees as an expert or opinion witness in any court, arbitration. or other legal proceedings without the prior written consent of CBRE:. H. This assignment shall be deemed concluded and the Services hereunder completed upon delivery to Client of the Report discussed herein All statements of (act in the Report which are used as the basis of CBRE's analyses, opinions, and conclusions will be true and correct to CBRE's actual knowledge and belief CBRE does not make any representation or warranty, express or implied, as to the accuracy or completeness of the information or the condition of the Property furnished to CBRE by Client or others. TO THE FULLEST EXTENT PERMITTED BY LAW, CBRE DISCLAIMS ANY GUARAN FEE OR WARRANTY AS TO THE OPINIONS AND CONCLUSIONS PRESENTED ORALLY OR IN ANY REPORT, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF FITNESS FOR ANY PARTICULAR PURPOSE EVEN IF KNOWN TOCBRE. Furthermore, the conclusions and any permitted reliance on and use of the Report shall be subject to the assumptions, limitations, and qualifying statements contained in the Report. 10 CBRE shall have no responsibility for legal matters, including toning, or questions of survey or title, soil or subsoil conditions, engineering, or other similar technical matters. The Report will not constitute a survey of the Property analyzed. 11 Client shall provide CBRE with such materials with respect to the assignment as are requested by CBRE and in the possession or under the control of Client. Client shall provide CBRE with sufficient access to the Property to be analyzed, and hereby grants permission for entry unless discussed in advance to the contrary. 12. The data gathered in the course of the assignment (except data furnished by Client, " _lent Information") aril the Report prepared pursuant to the Agreement are, and will remain, the property of CBRE With respect to Client the provided by Client, CBRE shall not violate the confidential nature of the appraiser -client relationship by improperly disclosing any confidential and proprietary Client Information furnished to CBRE Notwithstanding the foregoing to the contrary, CBRE is authorized by Client to disclose all or any portion of the Report and related data as may be required by applicable law, statute. government regulation, legal process, or judicial decree. including to appropriate representatives of the Appraisal Institute if such disclosure is required to enable CBRE or its employees and agents to comply with the Bylaws and Regulations of the Appraisal institute as now or hereafter in effect. a tlnl@-A .9x!cificalty noted; in-pr6paring ttfe-Repcirf CBOE•witl not -9p*con5iberifig Hie posOb(e existence of asbestos, PCY transformers, or other toxic, hazardous, or contaminated substances and/or underground storage tanks (collectively, "Hazardous Materials") on or affecting the Property, or the cost of encapsulation or removal thereof. Further. Client represents that there are no major or significant repairs, improvements or deferred maintenance of the Property that would require the expertise of a professional cost estimator, engineea, architect or contractor If any such repairs, improvements or maintenance are needed, the estimates for such repairs, improvements or maintenance are to be prepared by other parties pursuant to a separate written agreement in Client's sole discretion and direction, and are not deemed part of the Services or otherwise covered as part of the fee hereunder. 14 In the event Client intends to use the Report in connection with a tax matter. Client acknowledges that CBRE provides no warranty, representation or prediction as to the outcome; of such tax matter. Client understands and acknowledges ftt any relevant taxing authority (whether the Internal Revenue Service or any other federal, state or local taxing authority) may disagree with or reject the Report or otherwise disagree with Client's tax position. and further understands and acknowledges that the taxing authority may seek to collect additional taxes, interest, penalties or fees from Client beyond what may be suggested by the Report. Client agrees that CBRE shall have. no responsibility or liability to Client or any other party for any such taxes, interest, penalties or fees and that Client will not seek damages or other cl raa4b� d. { i e& e t rt-o v6 -� Vhc s+C r�! �0 r�' ti ^, it 0 0. VA t� i �xt, U,-, r � y1A2 '�+n1.+s Ct. e'(,�'cY � e�� v 4-t., Qt (i aAt� 't �,, P �616 1. w.,. ; tY�) `�"�'t � r l t , ;i✓t V r; of 4— 5 t wu% w- ptJb l G �'� "-C I i-,�j a.- 6'e- .• Docusign Envelope ID D3DBECDD-D4A8-4E87.4D51-1D6E20BE1DOF compensation from CORE relating to any such taxes, interest, penalties or fees imposed on Client, or for any attorneys fees, costs or other expenses relating to Client's tax matters. 15. UM(TATiON_Of LIABfUTY. NOTWITHSTANDING ANY PROVISION OF THIS AGREEMENT TO THE CONTRARY: (A) EXCEPT TO THE EXTENT ARISING FROM SECTION 16, OR SECTION 17 IF APPLICABLE, IN NO EVENT SHALL EITHER PARTY OR ANY OF ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, OR CONTRACTORS BE LIABLE TO THE OTHER PARTY, FOR ANY LOST OR PROSPECTIVE PROFITS OR ANY OTHER INDIRECT, CONSEOUENTIAL, SPECIAL, INCIDENTAL, PUNITIVE. INDIRECT OR OTHER EXEMPLARY LOSSES OR DAMAGES, WHETHER BASED iN CONTRACT, WARRANTY, INDEMNITY, NEGLIGENCE, STRICT LIABILITY OR OTHER TORT OR OTHERWISE, REGARDLESS OF THE FORESEEABIt ITY OR THE CAUSE THEREOF. (B) EXCEPT TO THE EXTENT ARISING FROM 5E- ILQh!_M OR ULTIQ 2 IF APPLICABLE, AGGREGATE DAMAGES IN CONNECTION WITH THIS AGREEMENT FOR EITHER PARTY (EXCLUDING THE OBLIGATION TO PAY THE FEES AND COSTS REQUIRED HEREUNDER) SHALL NOT EXCEED THE GREATER OF THE TOTAL FEES PAYABLE TO CBRE UNDER THIS AGRFF MENT OR TEN THOUSAND DOLLARS ($10.000). (C) CBRE SHALL HAVE NO LIABILITY WITH RESPECT TO ANY LOSS, DAMAGE. CLAIM OR EXPENSE INCURRED BY OR ASSERTED AGAINST CLIENT ARISING OUT OF, BASED UPON OR RESULTING FROM CLIENT'S OR ANY INTENDED USER'S FAILURE TO PROVIDE ACCURATE OR COMPLETE INFORMATION OR DOCUMENTATION PERTAINING TO ANY SERVICES OR REPORT ORDERED UNDER OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING CLIENT'S OR ANY INTENDED USER'S FAILURE, OR THE FAILURE OF ANY OF CLIENT'S OR ANY IN TENDER USER'S RESPECTIVE OFFICERS. DIRECTORS, MEMBERS, PRINCIPALS, AGENTS OR EMPLOYEES, TO PROVIDE A COMPLETE' AND ACCURATE COPY OF THE REPORT TO ANY THIRD PARTY. CORE SHALL HAVE NO LIABILITY WHATSOEVER FOR REPORTS OR DELIVERABLES THAT ARE SUBMITTED IN DRAFT FORM. (D) THE LIMITATIONS OF LIABII ITY IN SUBSECTIONS 15(A) AND 15(B) ABOVE SHALL NOT APPLY IN THE rVL"NT OF A FINAL FINDING BY A COURT OF COMPETENi JURISDICTION THAT SUCH LIABILITY IS THE RESULT OF A PARTY'S FRAUD OR WILLFUL MISCONDUCT. 16. (a) Client shall not disseminate, distribute, make available or otherwise provide any Report prepared hereunder to any third party (including without limitation, incorporating or referencing the Report, in whole or in part. in any offering. including, but not limited to any offering of the Property or any securities offering as defined by applicable law, or other material intended for review by other third parties) except (i) to any third party (a) identified in the Agreement as an Intended User subject to the terms and conditions of this Agreement or (b) otherwise expressly acknowledged in a separate writing executed by CBRE, such third party and Client, setting forth that such third party is an "intended User" of the Report and providing CBRE with an acceptable release from such third party with respect to such Report or wherein Client provides acceptable indemnity protections to CBRE against any claims resulting directly from the distribution of the Report to such third party. 00 to any third party service provider (including accountants, attorneys, rating agencies and auditors) using the Report in the course of providing Services for the sole benefit of an Intended User and ►imited to the Intended Use of the Report as defined in this Agreement. or Gn) to the extent required by applicable law, statute, government regulation, legal process, or judicial decree (b) In the event CBRE consents, in writing, to Client incorporating or referencing the Report in any offering or other materials intended for review by other parties, Client shall not distribute. file, or otherwise make such other materials available to any such parties unless and until Client has provided CBRE with complete copies of such offering or other materials and CBRE has approved the inclusion of the Report, of reference to the Report and/or CORE, in such offering and other materials in writing, Further, CORE's consent to such inclusion of the Report, or reference to the Report and/or CBRE, in any securities offering is subject to (0 CBRE's and CBRE's securities counsel's review and approval, in writing, of any inclusion of the Report, or reference to the Report and/or CBRE, in such securities offering, (ii) Client shall not modify the Report, any such inclusion of or reference to the Report and/or CBRE in such securities offering once approved 534 of 2180 Docusign Envelope ID: D3DBECDD-D4A84E87-9D51-1D6E20BE1DOF by CBRE and its securities counsel in writing; and (iii) Client shall reimburse CBRE for its out -of pocket costs and expenses, lasludbmS err reas arising (rum legal review of such securities offering and related materials on CBRE's behalf. (c) In the absence of satisfying the conditions of this Smitian 16 with respect to any party who is not designated as an Intended User, in no event shall the receipt of a Report by such party extend any right to the party to use and rely on such Report, and CBRE shall have no liability for such unauthorized use and reliance on any Report. (d) In indemnify. defend s affiliates and their officers, direct, rnp orsea ents an ntatives (CBRE and each of the foregoing an "Indemnified Party" and collective) t mless from and against all losses, liabilities, damages and expense a y, "Damages') claimed against, sustained or r any Indemnified Party arising ou part o any Inde 17 In lh1 Fe r any offeror Property or any securities offering as defined by applicable law, or other material inte or review by other parties, Clien indemnify, defend and hold each of the Indemnified Parties harmles rn and against any Damages in connection with (i) a saction contemplated by this Agreement or in con ton with the Report or the engagement of or performance of Service ny Indemnified Party hereunder, 00 amages claimed by any user or recipient of the Report, whether or not an Intende er, (iii) any actual or all untrue statement of a material fact, or the actual or alleged failure to state a material fact n . C ary to m a statement not misleading in light of the circumstances under which it was made with respect to all in tion furnished to any Indemnified Party or made available to a prospective party to a transaction, or (iv) ual or a violation of applicable law by an Intended User (including, without limitation, securities laws) or negligent or intention - is or umissions of an Intended User (including the failure to perform any duty impo y law); and will reimburse each to nified Party for all reasonable fees and expenses (including fees and , _nses of counsel) (collectively, "Expenses") as i rred in connection with investigating, preparing, pursuin efending any threatened or pending claim, action, procee i or investigation (collectively, "Proceedings" sing therefrom, and regardless of whether such Indemnified Party is a I party to such Proceeding. Cli agrees not to enter into any waiver, release or settlement of any Proceeding (whet h r not any Indemnifie rty is a formal party to such Proceeding) without the prior written consent of CBRE (which con will not reasonably withheld or delayed) unless such waiver, release or settlement includes an unconditional release 18. Ti e Period for Legal Action. Unless the fore Period 10 and Section a that any legal action or lawsuit by one party again r party or its affiliates, officers, directors, employees, contractors, a r represen ether based in contract, warranty. indemnity, negligence, strict liability or other tort or other ing eement, (b) any Services or Reports under this Agreement or (c) any acts or con ing to such Services or Reports, sha ithin two (2) years from the date of delivery to a Report to which the claims or causes of action in the legal ac r wsuit relate. The ti stated in this section shall not be extended by any incapacity of a party or any delay in the divAwr Tor accr 19 Mi�cettartciau_:, (a) This Agreement contains the entire agreement and understanding of the parties with respect to the subject matter hereof. This Agreement may not be amended, modified or discharged, nor may any of its terms be waived except by written agreement of both parties. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which -hail constitute one and the same instrument. A signed ropy of this Agreement 535 of 2180 Docusign Envelope ID: D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF SPECIFIC PROPERTY DATA REQUEST In order to complete this assignment under the terms outlined, CBRE, Inc.. Valuation & Advisory Services, will require the following specific information for the property? 1. PLEASE NOTIFY US IMMEDIATELY IF ANY OTHER CBRE SERVICE LINE (INCLUDING CAPSTONE) IS INVOLVED IN THE BROKERAGE, FINANCING, INVESTMENT OR MANAGEMENT OF THIS ASSET. I. (DataRequcstListj If any of the requested data and information is not available. CBRE:, Inc., reserves the right to extend the delivery date by the amount of time it takes to receive the requested information or make other arrangements. Please have the requested information delivered to the following: Stuart Lieberman, MAI VAS - Vice President Stuart.Lieberman@)cbre.com CBRE, Inc. Valuation & Advisory Services 777 B►ickeli Ave. Ste. 1100 Miami, FL 33131 536 of 2180 Docusign Envelope ID D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF transmitted by facsimile, email, or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original executed copy of this Agreement for all purposes. (b) Neither party shall assign this Agreement in whcile or in part (other than by operation of law) to any person or entity without the prior written consent of the uthei party Subject to the foregoing, this Agreement and all of its provisions shall be binding upon and shall inure to the benefit of (he parties and their respective successors and permitted assigns. (c) No consent or waiver, either expressed or implied, by a party to or of any breach or default, shall be construed to be a consent or waiver to or of any other breach or default in the performance of nny obligations hereunder. Failure of a party to complain or declare the other party in default shall not constitute a waiver by such party of rights and remedies hereunder. (d) Except as hereinafter provided, no delay or failure in performance by a party shall constitute a default hereunder to the extent caused by Force Maieure. Unless the Force Majeure substantially frustrates performance of the Services. Force Majeure shall not operate to excuse_, but only to delay, performance of the Services. If Services are delayed by reason of Force Majeure, CRRE promptly shall notify Client. Once the Force Majeure event ceases, CBRE shall resume performance of the Services as soon as possible. As used herein, "Force Majeure" means any event beyond the control of the Party claiming inability to perform its obligations and which such Party is unable to prevent by the exercise of reasonable diligence, including, without limitation, the combined action of workers, fire, acts of teriorisrn, catastrophes, changes in laws, condemnation of property, governmental actions or delays, national emergency, war, civil disturbance, floods, unusually severe weather conditions, endemic or pandemic, or other acts of God. Inability to pay or financial hardship shall not constitute Force Majeure regardless of the cause thereof and whether the reason is outside a party's control. (c) Any provision of this Agreement that, by its language, contemplates performance or observation subsequent to any termination or expiration of this Agreement shall survive such termination or expiration and shall continue in full force and effect. (f) If any provision of this Agreement, or application thereof to any person or circumstance, shall to any extent be invalid, then such provision shall be modified, if possible, to fulfill the intent of the parties reflected in the original provision. The remainder of this Agreement, or the application of such provision to person or circumstance other than those as to which it is held invalid, shall not be affected thereby, and each provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 537 of 2180 Docusfgn Envelope ID: D3DBECDD-D4A84E87-9D51-1D6E20BE1DOF f JP-P j r IAA, %+sFWFiL -- A PARCEL OF LAND LYING IN SECTION 34, TOWNSHIP 53 SOUTH, RANGE 42 EASI, ALSO BEING A POR7)ON OF THE' LANDS KNOWN AS MIAMI BEACH GOLF CLUB, FORM£RL Y SAYSHORE GOLF COURSE PER THE BOUNDARY SURVEY PREPARED BY FR ALEMAN & ASSOC7A IPS SrCN£D BY FRANK PARUA$ DATED ,RIME 10,2016, LYING AND BEING IN THE CITY OF MIAMI BEACH, WAMI-DADS COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS COMq/£NCE AT A FOUND IRON ROD (NO IDENTY-(CATKIN) MARKING THE NORTHEAST CORNER OF LOT 13 or THE PLAT AILED 7EWDIKTON OF &OCK 11-A 12AND KEW ADJDIITGW PER PLAT BOOM( 4Q PACE 12 OF THE PUBLIC RECORDS OF M/AW-DAO£ COLINTr TNENC£ RUN S6157'34 E FOR 9242 FEET TO A FOUND MAG-NAIL (NO IDENrOCA RO N), SAID POINT BEING ON THE EASTERLY RIGHT-OF-WAY LMIE OF NORTH AA"GAN AVENUE (A 70 FOOT WE PUBLIC RIGHT-OF-WAY PER SANO PLAT BOOK 40. PAGE 12, OF THE PUBLIC RECORDS OF WAMI-DADS COUNTY), SAC POINT ALSO BEING A Paw OF CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST. THENCE SOUTHEASTERLY ALONG SAID CURVE TNROLICH A CENTRAL ANGLE OF 2774 22 , A CHORD BEARING OF S45125'41 & A CHORD DISTANCE OF 50.79 FEET AN ARC DISTANCE' OF 51.28 FEET TO A POINT, SAKI PANT BEING THE SOUAIEAST CORNER OF AN £ASEl14FNT DESOWD 4V A SK£TCH PREPARED BY KCI, S1G7N£D BY BEMIAMIN HOYL£ AND DATED IfI24/2020, AND THE POWT OF fir"1NG THENCE DEPARTING SAID RIGHT-OF-WAY LINE RUN N01'4625W ALONG THE EAST LINE OF SAID EASEMENT FOR 28:13 FEET TO A POINT ON A NON -TANGENT CURVE 26 FEET NOIRTHERLY or AND PARALLEL WTH THE NORTHERLY RIGHT-OF-WAY LINE OF DADE 80ULCVARD (A VARA&E MOTH PUBLIC RIGHT-OF-WAY), SW CURVE HA14NG AN 8720 FOOT RADIUS CONCAVE TO THE NORTH, WAKE RUN EASTERLY ALONG SAID PARALLEL CURVE THROUGH A CENTRAL ANGLE OF 717710 '. A CHORD BEARING OF S8579'59E, A CHORD LENGTH OF 101.83 FEET, AN ARC DISTANCE OF 10874 FEET TO A PANT OF TANGE7NCr 10-6-ENCE CONTINUE ALONG A UNE 20 FEET NORTHER[ Y OF AND PARALLEL To SAID NORTHERLY R1CHT OF WAY OF DAD£ BOULEVARD, N5646'30'E FOR 652.77 FEET TO A POWT ON THE WESTERLY RIGHT-OF-WAY LINE OF NORTH MEMXOAN AVENUE (A 70 FOOT WIDE PUBLIC RGgT-OF-WAY PER PLAT BOOK 30. PAGE 19. OF THE PWIC RECOWS OF MIAMY-DAO£ COUNTY): THENCE RUN ALONG SAID WESTERLY RKGIT-OF- WAY LINE SZ2'37'20'W FOR 1.26 FEET TO A PORT OF CURVATURE OF A TOa00 FOOT RADIUS CUR(- CONCAVE TO THE NORTHWEST,• THENCE CONTINUE SWTHWE57MY ALONG SAID RIGHT-OF-WAY LINE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 36V9'09" A CHORD BEARING OF S4014155'W, A CHORD LENGTH OF 6206 FEET AN ARC OISTANCE OF 6310 FEET TO A POINT ON THE NORTHERLY RIGHT-OF-WAY LIVE OF SAID DADS BOULEVARD Mal A Pawr OF TANGENCY, THENCE RUN ALONG SAID NORTHERLY RIGHT-OF-WAY LhE W46:30"W FOR 39276 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LONE• OF SAID NORTH A#CHIGAN AVENUE AND A POINT OF CURVATURE OF A 107.20 FOOT RADIUS CURVE CONCAVE TO THE NOR Th. NENC£ RUN WESTERLY ALONG SAID EASTERLY RIGHT-OF-WAY LINE AND SAID CURVE WOUGN A CENTRAL ANGLE OF 6275 j8', A CHORD REARING OF S89'59'19*W A CHORD LENGTH OF III.1T FEET, AN ARC DISTANCE OF 116.80 FEET TO THE POINT OF BEO WNG CONTAINWG /4.925 SQUARE FEET (034 ACRES) MORE OR LESS SKETCH NO TES. T. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY RIGHT—OF—WAY LINE OF THE NORTH MICHIGAN AVENUE, AS BEING S3173'30E AS SHOWN ON THE FR AL£MAN & ASSOCIATE'S SURVEY, SIGNED BY FRANK PARUAS, DATED XNE 10, 2076. 2. LANDS SHOWN HEREON MERE NOT ABSTRACTED FOR RIGHTS —OF —WAY, EASEMENTS, OWNERSHIP, ADJO/NERS OR OTHER INSTRUMENTS OF RECORD. J. THIS SKETCH MEETS THE APPLICABLE "STANDARDS OF PRACTICE' AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN RULE 5JI7.050—.052, FLORIDA ADM/NISTRA nW CODE. 4. THIS /S NOT A BOUNDARY SURVEY. SKETCH OF DESCRIPTION ONLY. THIS i _ SITE - MORTN AtrG#C1N AVENUE WONITY MAP (NOT TO SCALE) LATE Biwm Pr �ii � � r P T �R�c�was eooFl 0 SET f�D7 �AfNr ® FLkA10 MAC-N" ® �O NM t " O FOUND MO/ PFE FOLAO 0pv Rw ® EAS010VT SHEET INDEX SHEET 1: KCYNITY MAP. NOTES, LEGAL DESCRIPI)CN SHEETS 2-4: SKETCH OF D£SMPTION C ie-n FI fA fC C f G{ PRELIMINARY 15166 NOT FOR PROPERTY CONVEYANCE INFORMATION SHONM NHREON IS SmAct to REVISION PRIOR TO FINAL ISSUE XX/XJU/XX KRISRE KA AFASZ DA IE PROFFESSIONAL SURVEYOR & MAPPER LICENSE NUMBER LS 7116 Ngr VAW WrHOUT pit 010W SiW&W AND RAW SEAL OR AN ELEC►WOW 9gM Off Of A FLORRIA LrC£NCS'EO IRWAV AW IIA FC9 (SEE SHEETS 2-4 FOR SKETCH OF DESCRIPnON) IS NOT A SURVEY. SHEET 1 OF 4 SKETCH OF DESCRIPTION OF SGC ENG/NEER/NGl LLC - -- FPL EASEMENT SURVEY AM LOCH nT NI 1001 TOWN PLAZA COURT. SUITE 1032 27CMV X 70*V9W 53 SITAR; RANUX 42 CAST WINTER SPRINGS. FLORIDA 32709 AW-OAOE COUNTY. I1avVA GC PHONE: (SM) 581-4031 PREPARED FOR: WWW.SGCSURVEY COM FL ORIDA POWFR & L ICH T L8 7979 DATE: 05/08/2025 SCALE. 1" = 40' DRAWN: SAS 538 of 2180 Docusgn Envelope ID: D3DBECDD-D4A6-4EB7-9D51-1D6E20BE1DOF FOUND NAIL d DISK (FDOT R/W) FOUND 1 * IRON PAo£ (FOOT R/W) Cl- PT Li 2 /-N O�;,p A UNE TABLE L!N£ BEARING LENGTH L 1 AAI %62" 25 13' 0 AillywMT 7.00' rt�C�E£AS`TERLY R%W / of NOR IN CURVE TABLE CURVE LENGTH RADIUS DELTA CHORD BEARING C1 t..AO' T100 W37rQ5- 430' S"37T C2 51.26' 107-V 0277171' TO 79' S{ V5411 C3 10Q71' 8720 07/77'RY WAY =79VT cs IIUM' 1 W20 I Mrmir "? it, Shc91Y991 4widw 20' UTILITY EASEMENT PER KO SKETCH AND DESCRIPTION 511900I48 - .SO- A V_PERAI_HOID-EAST-GLtiF-COURSE. PDF I NO RECOBL RDING INFO AVAILAE IN PUBLIC RECORDS r -O� \ FOLIO 02-3227-000-0100 I FOLIO p G OTY OF AaArMN BEACH I 02-3234-OOt-0130 EAST LINE OF KO I AL TON POYNTE LLC UTILITY EASEMENT N58 4630 "E 652.77' FOLIO??. 'o I FPL EASEMENT 02-3234 00t- 01?D lv AL TON POINrF LLC LOT 1J cr, PLAT BOOK 4a POIN T OF COMMENCEMEN T PACE 12 NORTHEAST CORNER OF LOT 13 110 PLAT BOOK 4a PAGE 12 i N FOUND 1/2- 1RON ROD (NO ID) --�' N• 532165.86 , E., 939392.95' POINT OF BEGINNING SOUTHEAST CORNER OF EASEMENT PREPARED BY KC 71FOWA OGC.S NVC SIGNED BY BEN. MM+ HOIT&, DATED 1112412020 NO RECORDING WFORMA 77ON AVAILABLE. N,' 5J2117.08; E.- 939520.4I' 0 llf 40 MOO _ b 7ET7 (t0 34 AC. t 14, 925 SO FT) PT J ao Vci �.. Q C5 NORTHERL Y L INE OF DADE EY W. S58'46'30"W 592.76' I o pp�o� P I l I SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 2 OF 4 SKETCH OF DESCRIPTION OF SO -ENGINEERING, LLC FPL EASEMENT SURVEY MID ANPPDN^ 4=7m « I W1 TOVVN PLAZA COURT. SUITE 1032 zcAmV R I001Y.W 33 SWA# kwa 4p LAST ~-QAQf C6AIT1, ROkOA WINTER SPRINGS, FLORID, 3Z706 GCPREPARED FOR: PHONE (800) 581-4031 WWW.SGCSURVEY.COM FLORIDA POWER & LIGHT L87979 DATE (k51(>f312025 SC -ALE 1" = 4a DRAWN SAS 540 of 2180 Docusign Envelope ID: D3DBECDD-D4A8-4E87-9D51 -1 D6E20BE 1 DOF FPL EASEMENT (10J4 AC, t14,925 SO FT) FOV& 02-3227—OW-0100 ORB NIA, PG N/A pTY of A#AAN BEACH SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SKETCH OF DESCRIPTION OF I SGC ENGINEERING, LLC FPL EASEMENT eOCAmr w s cnm .14, mrmv xt smik u usr PREPARED FOR FLORIDA POWER & L IGH T SE RVEY AND WNW 1001 TOWN PLAZA COURT SURE 1032 WINTER SPRINGS. FLORIDA 32708 PHONE (800) 581-4031 W WN.SGCSURVEY-COM LB 7979 DATE 05/08/2025 SCALE 1" = 40' I Im 12 NW MM Y R1* I `j LINE Or DAOLE BL W I I� ( N I I I I 0 10 10 I r M20 . 40 Fir I SHEET 3 OF 4 SGC DRAWN: SAS 542 of 2180 Docusign Envelope ID D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF CUR4£ TA&E ��l Y-- CUR W LENG Ai RADIUS QEL TA I CHORD WEARING C4 Mum, I ra¢ao I atstow I a aw s+avrw-w LAVE TABLE LAVE I WARING I LENGTH L2 522:T7''2WV f.X' FPL EASEMENT (t0 .J4 AC, t14,925 50 f 1. ) FOLIO 02-3227-000-0100 ORB N/A, PG N/A CITY OF WAW BEACH 0 6 5g21 1 0,0 os�15be� * � ltklo� J P�1P0�, SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF FPL EASEMENT LOCAkD N SFC7eW A, 101rAW 5J SOMIN ""1 42 EAST ww-aur OWN, aaAw PREPARED FOR: FLORIDA POWER & LIGHT \_ WSrERLY R/W LINE OF NW TH MERIDIAN A 4ENUE rm NOR WRL Y RIW LINE OF DADE & W THIS IS NOT A SURVEY 'GC ENG/NEMO. LLC SEfitVff AM MM4FF Mti 1001 TOWN PLAZA COURT, SUITE I WINTER SPRINGS, FLORIDA 32706 PHONE. (800) 581-4031 WWW.SGCSUR\ EY.COIM LB 7979 0 20 *0 SHEET 4 OF 4 DATE 05/08/2025 SCALE 1" = 40` DRAWN SAS 544 of 2180 Docusign Envelope ID D3DBECDD-D4AB-4EB7-9D51-1D6E20BE1DOF A PARCEL OF LAND L MNG ITV SECTION 34, TOMN9WP SJ SOUN RANGE 42 EAST, ALSO BEING A PORTOV OF I}{£ LANDS KNOIMI AS M1A1I BEACH GOLF CLUB, FORMERL Y BAYSMQRE GOLF COURSE PER TN£ BOUNDARY SURVEY PREPARED BY FR ALEMAN tt ASSWA TES, SIGNED BY FRANK PARUAS DA7FD ,RAVE 1Q2016, L MG AND BCNG IN THE p7Y OF WAMI BEAM MAMN-RARE COUNTY, FLORIDA AND BEING MORE PARACULARLY DESCRIBED AS FOLLOWS CDMMENOE AT A FOUND IRON ROD (NO AWNT)FICAI") MARKING 7HE NORTHEAST CORNER OF LOT IJ OF ii+f• PLAT TITLED 'RESU6KJ 1490N OF BLOCK 11-A ISLAND NEW ADDITION ; PER PLAT BOOK 4Q PAGE 12 OF 7W PU& C RECORDS OF MAW-DADE COUNTY,• THENCE RUN S&,57 341 FOR 9242 FEET rD A FOUND MAG-NAIL (NO IDEN RFICA nAN) ON INE EASTERLY WNT-OF-WAY LM'ME OF N07774 10CHIGAY AVENUE (A 70 FOOT MID£ PUBLIC 1704r-OF-WAY PER PLAT BOOK 40, PAGE 12, OF THE PUBLIC REGARDS OF WAMI-DAD£ COUNTY), SAID Pow ALSO B£NVG TH£ NAR7HWSr CORNER OF AN EASEMIENT DE$(2WD Rv A SKtrcH PREPARED BY Ka sIcAa BY BENJAYIN HDYLE AAK1 DATED 1 t/24/2ox AND IHE PONT Or BEOM00, THENCE RUN ALONG SAX? R",r OF -WAY NJI7J30'W FOR 10973 FEET- 7HENCE DEPARTING SAX) RIGHT-OF-WAY LINE, RUN ALONG SAID WSTERLY EASEMENT LINE THE FOLLOWVG FIVE (5) COURSES- (1) N584100-E FOR 4.10 FEET TO A POINT OF CURVATURE OF A T000 FOOT RADIUS CURD CONCAVE TO THE SOUTH,- (2) THENCE RUN EA57FRLY ALONG SAC CURVE INROUGH A Ci'NMAL ANGLE OF 8770'27' A CHORD 8FARING OF S77:78'38': A CHORD LENGTH OF 1J.81 FEET, AN ARC DISTANCE OF 15.24 FEET ro A POINT OF rANCENCY, (3) THENCE RUN SJ358 25 E FOR 8134 FEET TO A PONT OF CURVATURE OF A 40.00 FOOT RADIUS CURVE CONCAVE TO 7NE WST, (4) THENCE RUN SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 3272'00" A CHORD BEARING OF S175225E A 049D LENGTH OF 22.19 FEET, AN ARC OISTANCE OF 22.48 FEET TO A POINT OF TANGENCY,- (5) WNCE RUN SOt 46 25 E FAR 1,9.84 FEET TO A PCWNT ON 7HE EASTERLY RIGHT-OF-WAY LINE OF SAX) NORTH MICHIGAN AVENUE, SAD POINT ALSO BEING ON A 10720 FOOT RADIUS NON -TANGENT CURVE CONCAVE 70 7HE NORTHEAST INENC£ RUN NORTHNESTFRL Y ALONG SAID RIGHT-OF-WAY LINE AND SAO CURVF 7HROUGH A CENTRAL ANGLE OF /375'44 ; A CHORD WARAVC OF N38 D6 22 W, A CHORD LENGTH OF 25.07 FEET AN ARC LNSTANCE OF 25.11 Far r0 THE POINT OF BEG~va CLNrANING 1,942 SOUARE FEET (0.04 AMS) MORE OR LESS. SKETCH NOTES: 1. BEARINGS SNOW* HEREON ARE ASSUMED AND BASED ON THE EASTERLY RIGHT -GAF -WAY UNE OF THE NORTH MICWGAN AVENUE, AS BEING SJ173305 AS SHOWN ON THE FR ALEMAN & ASSOCIATES SURVEY, SIGNED BY FRANK PARUAS� DATED ,LWE 10, 2016 2. LANDS SHOWN HEREON WFRE NOT ABSTRACTED FOR RIGHTS -OF -WAY, EASEMENTS, OWERSHIP, ADJOINERS OR OTHER INSTRUMENTS OF RECORD, J. THIS SKETCH MEETS THE APPLICABLE STANDARDS OF PRACTICE' AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN RULE 5J17.050-.052, FLORIDA ADMINIS TRA 77 VE CODE N SITE NOR TH WCMGAN AVENUE � I WCA171 MAP (NOT TO SCALE) LEGEND. Pt Pm or aRVARM AN RK:Fr ormy_R¢/I[ PAa 11P05 a"a" iT�iTf r GI��Ah$tsp4� itANr FL7<M MAC-NA4 ® FO&W NAB. R " O mtm moo PFE FlIM " RID ® EA-gWhr efz"6f4 'tID <6IttO) PRELIMINARY NOT FOR PROPERTY CONVEYANCE (stwfl�) OFORYATICh SHCNW rMO60 IS SLjRArT TO Revism Prop► To FwL 95SUE XX/XX/11X KRS77E KAJF'ASI DA IF PROFESSIOWAL SURV£YCH & MAPPER LICENSE NUAA" LS 7116 NO? IALV W MWr RE OU(WAk "ARIA ADD BARBED SEA OR AN ELfCMOW SI67O MW dr A FLO CA LAO MV "10W AWp II~ 4, THIS IS NOT A BOUNDARY SURVEY (SEE SHEET 2 FOR SKETCH OF DESCRIPRON) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 1 OF 2 SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION 9c" J4, u SWIyVie, R I? fAS1 NAM' -!TARE LXX M FLOWA PREPARED FOR FLORIDA POWER & LIGHT 'GC ENGINEERING, LLC SURVEY AM WPM 1001 TOWN PLAZA COURT. SUITE 1032 WINTER SPRINGS. FLORIOA 32708 PHONE. (800) 581-4031 WWW.SGCSURVEY.COM LB 7979 DATE 061=2026 SCALE 1" = 40' $ GC DRAWN SAS 546 of 2180 Docusign Envelope ID: D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF FOLWD NAk d D19( (FDOT R/W) FOUND 1 `IRON PFE (FDOT R/W) T EASTERL Y � R/W y LINE OF NORTH ANCMGAN AVENUE m i 7+� 7Z J$' L2 V PC T i 7A ` POINT OF £GINNING � CURVE TAB? E CURVE LENGTH RAON/S DEL TA CHORD BEARAVC G 4 m, 7100 oa777W' i -W S29 W'S7t C2 1124' laao osmo'2Y r39r' S7rJajut cJ 2r46' oaao aJt72bo' mis, sr7w75T G 21 rJ' I r07.20 arns l idor N309 2?,w TEMPORAR Y CONSTRUCTION EASEMENT (t0.04 AC, ±1,942 SO Fr) � N. 532152, 95' E 9.39484.47' FOLIO 02-3234-001-0130 AL TON POWTE L L C — - - - - Sal 37.34'r ?' Faro PO/N T OF PT 02-3234-001-0120 AL TON POW7E IC COMMENCEMENT NORTWAST CORNER OF LOT 13 LOT 13 PLAT BOOK 4a PACE 12 Pt A T aox 40. FOUND 1/2" IRON ROD (NO ID) PAGE 12 N N: 532165 86. E, 939392.95' 0 1a .o r ,wav - .o rm SKETCH NESr LINE OF KG U77U rY EASEMENT LINE TABLE LINE BEARANC LEAWN Lr AWZJ'J9'b 1017.r L2 NSQYr 091 # ro' LJ SMV232 AU' 34' Ls VW575'E 1 am- \ 20' U771JTY £ASEWAtr PER KO SKETCH AND D£SOWP 770N 511900148 SO-AV-PER#d-NDO_EAST-GOLF-COURSE.PDF NO RECOROAW INFO AVAILABLE IN PUWC RECORDS C F000 02-3227-000-0100 pTY OF W/AMI BEACH M U T et J Ra707,08 , Y� cc si �J PQ\3Oti\G OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 2 OF 2 SKETCH OF DESCRIPTION OF OLKo C/rW/rCC/CHT4, LLL, TEMPORARY CONSTRUCTION - - _ r SiIRVEY A1VD AUPPDVt3 prft� /� �t,Q01 TOWN PLAZA COURT. SUITE 1032 S GC urca uAIv v Sd Aii G' & yHn1TER SPRINGS. FLORIDA 3270d SCC" )A MWO10 S.r SWIM *W" Q EASr PHONE' 800 561.1031 PREPARED FOR. WWW.SGCSURVEY.COM LB 7979 FLORIDA POWER & LIGHT DATE 05108/2025 SCALE 1" = 40' DRAWN SAS 548 of 2180 Docusign Envelope ID: D3DBECDD-D4A84E87-9D51-1D6E20BE1DOF A PARCEL OF LAND LYING WN SECT1AN 34. TONNSFWP 53 SOUTH. RANGE 42 EAST. ALSO BONG A PORIKAV OF 1HE LANDS KNOWN AS AWAM/ BEAC:I GOLF CLUB. FORMERLY BAYSHME GOLF COURSE PER THE BOUNDARY SURi£Y PREPARED BY FR ALEMAN & ASS0007ES -W#fD BY FRANK PARUA5 DATED ,,ENE 10,2016, LYING AND SENG WN THE arY Of AWAAf BEACH, ARAW-DADS COUNTY, FLORIDA AND BEING AK RE PAR RaAARL Y DESOW D AS FOLLOWS C0*WENGE AT A FOUND JRO N ROD (NO ID£N TIF7CA 7JLN) MARKING THE NORTHEAST CORNER OF LOT I3 OF THE PLAT 7/FLED IRESUBDIVISION OF BLOCK 11-A ISLAND NEW ADDIAON' PER PLAT BOOK 40. PACE 12 OF 7H£ PUBLIC RECORDS OF MAIN -DADS COUNTY, • THENCE RUN S815734 f FOR 9242 FEET TO FDUNO MAC -NAIL (NO IDENTIFICATION) SAND POINT BEING ON THE EASTERLY RIGHT. OF -WAY UNE OF NORTH A&CHNGAN AVENUE (A 70 FOOT WOE PUBLIC RIGHT -Or -WAY PER SAID PLAT BOOK 40, PAGE 12, OF THE PUBLIC RECORDS OF MAMI-DADS" COUNTY). SANG POINT ALSO BEING A POINT Of CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST AND A 00Q9 BFARWVG OF S45175 4I'E AND A 009D DISTANCE OF 50. 79 FEET' THENCE SOUTHEASIERLY ALONG SAND CURVE niROUCH A CENTRAL ANGLE OF 17742Y, AND AN ARC DISTANCE OF 51.28 FEET TO A POINT OF NON -TANGENCY SAND POINT ALSO BEING THE SOUTHEAST CORNER OF AN EASEMENT DESCRIBED IN A SKETCH PREPARED BY KQ, W&-D BY BENJ"W HOYLE AND DATED 1112412020, AND THE POINT OF BEGxNAWNQ THENCE DEPARIIMG SAO RIG4T-0E-1141Y LINE RUM ALONG SAID EASTERLY EASEAkNT LINE N011525W 3659 FEET TO A POINT OF A 60.00 FOOT RADIUS c'G W CONCAVE TO THE wFST THENCE RUN NORTHERLY ALONG SAID CURVE AND SAND EASTERLY EASEMENT LWv£ THROU6 N A CENTRAL ANGLE OF 02'4424' A 0 090 BEARING OF NO3V8J7"W, A 0140W LENGTH OF 2.87 FEET, AN ARC DISTANM Or 287 FEET TO A POINT ON A NON-TANG£1V7 CURVE PARALLEL To AND JO FEET NORYWRLY OF THE NORTHERLY R1GN7-G1r-WAY LINE OF DADE 80ULEVARD (A 65 FOOT WDE PUBLIC MGHr-OF-WAY PV? PLAT BOW a PAGE 115. OF THE PGN3LIC REO ms OF AkAAR-DADS COUNTY), SAID CURVE HAMNC A 7720 FOOT RADIUS AND 8EWNG COMCAV£ TO THE NORItI IWACE RUN EASTERLY ALONG SAD CURVE 7HROUCH A CENTRAL .ANGLE OF 783727. A CHORD BEARING OF S8134 47t A 04OW LENGTH OF 97.82 FEET. AN ARC DISTANCE Or 105.94 FEET 70 A POINT OF TANGENCY ON A LAC 30 FEET NORTHERLY OF' AND PARALLEL WIN SAID RIGHT-OF-WAY L#C THENCE CONTINUE ALONG SAND PARALLEL LME N-W4630E 277.53 FEET- WINCE DEPARTING SAND PARALLEL GME, RUN NJJ23'191Y 68,21 FEETTHENCE RUN N6359'18T 76,41 FEET. 7WACE RUN N5B'JS'01 f 7131 FEET TO A POINT ON A 119.91 FOOT RADIUS NON- TANGENT. CURVE CONCAVE TO 1HE NORTHNEST 1WNCE NORrWASTLF'RLY ALONG SAD CURVE 17NROUGH A CENMAL ANGLE OF 5426 09 , A CHORD BEARING OF N66D6'16'F A CHORD LENGTH OF 109.69 FEET AN ARC DISTANCE OF 11J 9J FEET TO A POINT OF NCR -TANGENCY: THENCE RAM N3676 JV F 79.42 FEE r. T14rha RUN N6J25 00 f 29.12 FEET, r ENCE RUN N62'31'49'E 3754 FEET. • NO C£ RUN N67'30'O0 F 41 J8 FEET. MENCE RUN S7.7308f 2710 FEET TO A POINT ON TW WSTERI.Y RfQNT-OF-WAY LAW OF KOM ME'RAONAN AVENUE (A 70 FOOT NIO£ AaJC RIQHT--OF-WAY PER PLAT 9" 30. PACE I9 OF THE ftaiC RECAROS OF ARAAR-DADS GXJ ryT Tht'NCE RUN ALDNG SAID wE5TEIiLY RK:HT-OF-WAY UlE S22'3720W 9657 FEET TO A POINT OF a*VATUR£ OF A 10a00 FOOT RADIUS CLRPV£ CONCAVE TO rW MCRINNE'.ST. MACE E C'aVM" SOUTHNESIERLY ALONG SAID OGHT-OF-NAY LANE AND SAND CTARW ThOROUGH A CENTRAL ANGLE OF 35V909'. A 040RO E1FARWNG OF S404155'K A 04ORD LENGTH OF 62.06 FEET, AN ARC DISTANCE OF 6J. tO FLEET TO A PONT ON rME AOR7NiERLY RIGHT-OF-WAY LINE OF SAND OAD£ BOULEVARD AND A POINT OF TANGENCY• TFIENCE RUN ALONG SAS NORTHERLY mGHr-OF-WAY UN£ S58'46m*w FOR 592.76 Far TO A PANT ON rw EASTERLY RIGYNT-OF-WAY LINE OF SAID NORTH AA W.AlN A OAX AND A PORT Or CURVATURE OF A 10720 FOOT RADIUS CURVE CONCAVE TO THE NORI)t WVCf RIAN NESIERLY ALONG SAID EASTERLY RIOW-OF-WAY LINE AND SAND CL49W 7HRO 04 A CENTRAL ANGLE O' 6225'.38' A CHORD BEARING OF 58959'19'W, A CHORD LENGTH OF 111.Tr IMr,, AN ARC D(STANCl OF 116.80 FEET TO THE POINT OF BEGII+ c com rA#mG 48 717 SOVARE FEET 0 12 ACRES) MORE OR LESS N" V SITE wwrH A~ O I 5 MINI TY MAP (NOT TO SCALE) LEGEND: LOW SWAK RWAY S r IiFL'YXlAS 11�7pK fE£t ti 7 A7 Rr ® nXA0 NA& t 019E C Fr w AM PIP'£ mm ROM RILY1 ® FASIAA%t SHEET INDEX SHEET 1: VICINITY MAP, NOTES, LEGAL DESCRIPTION SH££TS 2-4: SKETCH OF DIESCRIP77ONN P r�ri rt Is to (`�t'*Lj SKETCH NO PRELIMINARY 1. BEARINGS SHOWN HEREON ARE ASSUMED AND BASED ON THE EASTERLY NOT FOR PROPERTY CONVEYANCE C S I d ?A RIGHT-OF-WAY LINE OF THE NORTH AHCiNGAN AVENUE. AS BEING tNFUR#AAnok 9HOWON HEREON 15 SLSrtCT TO 53173'30 E AS SHOWN ON THE FR ALEMAN & ASSOCIATE'S SURVEY, REVISION PRIOR To FINAL ISSUE XX/XX/kX SIGNED BY FRANK PARUAS DATED DUNE 10, 2016. KRIS77E KA„FASZ DATE 2, LANDS SHOWN HEREON 1WR£ NOT ABSTRACTED FOR RIGHTS -OF -WAY, pROFES5700VAL SURVEYOR & MAPPER EASEMENTS, OWN£RVOP. A0JOINERS OR OTHER INSTRUMENTS OF RECORD. LICENSE NUMBER LS 7116 3. THIS SKETCH MEETS THE APPLICABLE STANDARDS OF PRACTICE' AS SET Nor VALO wnvovr 1W G1i GIM XW?t M MD RAW sm OR AN FORTH BY THE fLORIDA BOARD OF PROFFS90NAL SURVEYORS AND 1fCM0W 9OYAAW Or A nXAVA UC MD RRIt-YOR AND AIAPPCR MAPPERS ITV RULE 5JI7 050-. 052, FI GRIOA ADMINN571?A RVE CODE, 4, THIS IS NOT A BOUNDARY SURVEY. (SEE SHEETS 2-4 FOR SKETCH OF DESCRIPTION) SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY. SHEET 1 OF 4 SKETCH OF DESCRIPTION OF SGC ENGINEERING, LLC rrTEMPORARY CONSTRUCTION �„ SE4MY,� �ppM toOArfn w �£ s� 1001 TOWN PLAZA COURT, SUITE 1032 RENTER SPRLNGS, FLORIDA 32708 SGC SECIOV 34 MWi9V 5J 50Vrk WCE 42 EAST. WA60-0W CMNrY FIaWA PHONE' (800) 581-4031 PREPARED FOR: WWNV.SOCSURVEY.CONi LB 7979 FLORIDA POWER & LICHT DATE D510812025 SCALE 1" = 40' DRAWN SAS 550 of 2180 DocusW Envelope ID: D3DBECDD-D4A8-4E87-9D51-1D6E20BE1DOF i I FOUNO NAIL a DISK (FOOT R/W) FOUND 1. IRON PIPE (FOOT R/W) CURW TABLE CURVE LENGTH RADIUS Oft TA OOW BEARING cl 4 v. nac 00.197170' 4.f0' Qsw's7'Lr 67 31.26* 10720 0?774'2?' 3A 72' s4m'Il ci 287, saw gar## N' ter A0Jt70"s7'D C4 10194' 1 )710 07a'l777' 9782' 51111.54477 C7 t16.tib` 10710 016?75as' �nr ►1' m39'1911 LINE TABLE LINE I BEAMWG LENGTH L1 NI W'2511' J6 M' 1 £AST£RLY R/W 20' UIXITY EASEMENT PER LINE OF NO511900148 _ Sr PC4l NOR KCI W701 AND D£SOWTTOW 1 \ MICMIGAN AVENUE NO RECORDING M1FC AKABLE NV PUBLIC RECORDS I TEMPORARY 'Rye CONSTRUCTION EASEMENT I (t112 AC.' 144717 SG: FT. EASTM Y L#VE OF KO FOLIO q �� ✓ UT&JTY EASEMENT I 02-J234-001-0130 y G FOLIO 01-3227-000-0100 AL TOIN POINT£ LLC Cn CITY OF WAMI BEACH N58'46 "30T 277. 5J' FOLIO PC U Z 01-3234-001-0120 P E. ALTaw POW LLC C4 j:S./ice LOT 13 PLAT BOOK 40, PAX 12 POINT OF COMMENCEMENT NOIRIWAST CARAE'R OF LOT 13 PLAT BOCK 4a PAGE 12 FOUND 1/2" IRON ROD (NO ID) N M 532165 86, E: 9J9392.95- POINT OF BEGINNING SOUTHEAST CORNER OF EASEMENT PREPARED BY KCI TEL:tMIO "SI INC. 9OVED BY SENJAMIN NOYL& DATED 1112412020 NO RECORMG OWORMA 77ON AVAILABLE. N.532117.08, E.- 939520.44' 0 X 40 C7 S58'46'300W 592.76' NORTHERLY I R/W UNE OF DAOE BL W. I LJ� -�r �d 0 l JPR,PO I SKETCH OF DESCRIPTION ONLY. THIS IS NOT A SURVEY, SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION W rA"c6 C '45'�ux J} its ✓S ttt'A MV N c�+ SURN A 1DWOW W SOVIK I1 IM 41 £AST iG cur► -war camly. na w PREPARED FOR FLORIDA POWER & LIGHT SURVEY AND AUPPAU � 1.001 TOWN PLAZA COURT, SUITE 1032 P(I+-WINTER SPRINGS, FLORIDA 32708 PHONE (800) 581.4031 WWW.SGCSURVEY COM LS 7970 DATE 05t0&2025 SCALE 1" = 4a SHEET 2 OF 4 SGC DRAWN SAS 552 of 2180 Docusign Envelope ID: D3DBECDD-D4A8-4E87-9D51-1D6E2OBEtDOF N58'35 O1 "E FOUO: 02-3227-000-0100 CY rY OF MIAM1 BEACH j $ � 55�.q,6 � JO 8 90 NOR 1NERL Y R/W UNE OF DARE BL W SKETCH OF DESCRIPTION ONLY SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCTION j,gwr jF, ' &vl% V6 COCA tED N EAST OR CnOn 3�. ►01MSMP S! SGU1 ►iC RrNC£EAST MUM-OA" COWR.. RaWA PREPARED FOR: FLORIDA POWER & LIGHT %��/�lAi C`7nfil/ 77nu r'Arrur-At / THIS IS NOT A SURVEY SGC ENGINEERING. LLC ST/ M AND MAPMW 1001 TOWN PLAZA COURT, SUITE 1032 )► VANTER SPRINGS, FLORIDA 32708 1 PHONE (8W) 581.4031 WWW.SGCSURVEV.COM L8 7979 0 70 .0 r#Ail• I0iWl SHEET 3 OF 4 SGC DATE 05108/2025 SCALE 1" = 40' DRAWN SAS 554 of 2180 Docusign Envelope ID D3DBECDD-D4A811E87-9D51-1D6E20BE1DOF CURVE TABLE CLIRYF LENGTH RADIUS DELTA CHORD BEARING cs r r19J' I r9 91 0547610' In of N V676'F cti 6Jr0' moo a16wo!' uat' S.0tir3s•W LNVE TABLE UNE BEARING LENGTH L2 AA6.T W*E 29 17' LJ A52'31.9T 37.54' L4 A067WWT sr.ra' Ls S72*3081 n ro PT% v P�\PBL� FOLIO 02-3227-000-01010 CITY OF AVAAN BEACH SKETCH OF DESCRIPTION ONLY. SKETCH OF DESCRIPTION OF TEMPORARY CONSTRUCT TON j-4�' S L=Um w f}a �� SiCDd 34 MWWW W SOVI t "%W ill EAST ~-ao[ awry. ha w PREPARED FOR: FLORIDA POWFR & LIGHT ovz- U�' MFSrFRI Y R/1M LOVE Of / NORTH MERLJVAN A WNU£ � 7RUC77ON EA SEMEN 1.12 AC, ±48.717 SO. FT. ) T 5- U NORTNER1 Y R/W L A4£ OF DAD£ & W THIS IS NOT A SURVEY WC ENGINEERING. LLC 1001 TORN PLAZA COURT, SUITE 1032 WINTER SPRINGS. FLORIOA 32708 Pw)NE (800) 58/-4031 WWW SGCSURVEY COM LB 7979 0 20 /0 r wav - .0 fur SHEET 4 OF 4 SGC DATE 05/0812025 SCALE 1" = 40- DRAWN SAS 556 of 2180 Addenda Addendum D Qualifications 558 of 2180 PROFILES Clients Represented Conventional Lenders - Credit Unions - Insurance Companies Mortgage Brokers Private Investment Funds Public Investment Funds Sovereign Wealth Funds Hard Equity Lenders Family Offices - Municipal Governments State & Federal Government Corporations - Asset Managers Special Servicers Developers Individuals - Attorneys Non -Profits - Religious Institutions Professional Affiliations Designated Member, Appraisal Institute No. 12003 Education - Bachelor of Arts - Political Science. University of South Florida - 1985 CBRE VALUATION & ADVISORY SERVICES Stuartj. Lieberman, MAI Vice President - Florida/Caribbean Region T *1 305 3816472 M * 1 954 295 2133 E stuart lieberman�Z>cbre com Professional Experience Stuart J. Lieberman. MAI is a Vice president with over 35 years of real estate appraisal and consulting experience. Mr. Lieberman is in the Valuation & Advisory Services Group's Miami office in the South Florida/Caribbean Region. Since 1987, Mr. Lieberman has provided real estate valuation and consulting services to the financial lending community, institutional clients. government agencies, corporate entities, legal & accounting professionals. developers and private individuals. Mr. Lieberman has experience providing market studies, feasibility studies, highest & best use analysis, market rent studies, expert testimony & litigation support and portfolio analysis. Mr. Lieberman's experience encompasses a wide variety of property types including single & multi -family residential, senior housing, mobile home parks, high density urban & ocean front developments, open space & public parks, automobile dealerships, service stations & convenience stores, funeral homes, medical office & surgical centers, mixed - use office, financial institutions & branch banks, retail shopping centers & regional malls, parking garages, restaurants & night clubs, movie theatres. health & fitness clubs. marinas & shipping terminals, FBOs (fixed base operations), industrial flex warehouses, bulk distribution, truck terminals, refrigeration warehouses, R&D, business parks, self - storage facilities; and, special purpose properties, including bowling alleys, broadcasting facilities, car wash, historical properties, public & private schools, day care facilities, houses of worship & religious facilities, tourist attractions, sport arenas and entertainment venues & theatres. Licenses Certified General Real Estate Appraiser, State of Florida License RZ 1074 Licensed Real Estate Broker - Associate. State of Florida License BK 0477878 559 of 2180 Ron DeSantis, Governor Melanie S. Griffin, Secretary I, pr STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BD THE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THE Mir g • j ' Mss.-� • • gal 1b • • SUITE 1100�a L 33131 AZA LICENSE NUMBER: RZ1©f4 EXPIRATION DATE: NOVEMBER 30, 2026 Always verify licenses online at MyFloridaLicense.com ❑��' }.y❑■ ISSUED: 11/15/2024 Do not alter this document in any form. l� Q+ This is your license. It is unlawful for anyone other than the licensee to use this document. CBRE Valuation & Advisory Services CBRE Delivering more than just a number At CBRE, we offer more than expert appraisal services, we consult and advise to help you see the full picture of a property or portfolio. Valuation & Appraisal Understand all aspects of value - Lending & Debt Valuations - Portfolio Valuations - Institutional Fund Valuations Litigation Support & Testimony Right -of -Way & Eminent Domain - Evaluations/Alternative Valuations Quality You Can Count On Assessment & Consulting Property & Transaction Tax Understand ail aspects of value Understand all aspects of value - Property Condition Assessments - Assessment Reviews & Appeals - Environmental Site Assessments - Real Estate Transaction Tax - Land Surveying - Property Tax Payment Services Seismic Risk Analysis Pre -Acquisition Due Diligence Radon, Asbestos. Indoor Air Quality Pre -Construction Due Diligence - Zoning Reports & Compliance - Budgeting & Accruals Reliable valuations depend on accurate insights. Our quality and risk management (ORM) framework ensures the highest -quality reports and analyses, giving you confidence in our calculations. o Q 11 o Upfront conflict and Embedded risk detection Landmark training, practice Dedicated, global team qualification checks and leadership reviews guidelines and governance of ORM experts Mdustry-leading people, data and technologies Experience You Can Trust CBRE is the global leader in commercial real estate services, with more than 100 years of industry experience. We provide unmatched market coverage and sector expertise across every dimension of our Valuation & Advisory Services, delivering insights you can't get anywhere else r• • U.S. Valuation Offices U.S. Yearly Assignments 600k+ Global Yearly Assignments 200+ Global Valuation Offices 561 of 2180