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Grant of Perpetual Easement :#5 Prepared by and Return to: Joseph M. Hernandez, Esq. Greenberg Traurig, P .A. 1221 Brickell Avenue Miami, FL 33131 GRANT OF PERPETUAL EASEMENT (LINCOLN ROAD) THIS GRANT OF EASEMENT (this "Easement") is made this _ day of September, 1999, by DI LIDO BEACH HOTEL CORPORATION, a Florida corporation (the "Owner") having its principal place of business at 155 Lincoln Road, Miami Beach, Florida in favor of the CITY OF MIAMI BEACH, a Florida municipal corporation (the "City"), having its principal place of business at 1700 Convention Center Drive, Miami Beach, Florida. WHEREAS, the Owner owns that certain property situated, lying and being in Dade County, Florida, known as the Di Lido Beach Hotel located at 155 Lincoln Road, Miami Beach, Florida, and as more particularly described in Exhibit "A" attached hereto (the "Property"); WHEREAS, the City and the Owner entered into that certain Agreement dated as of June 11, 1999, recorded in Official Records Book 18165, at Page 955, of the Public Records of Miami-Dade County (the "Development Agreement"), whicp. constitutes a development agreement pursuant to the Florida Local Government Development Act, Section 163.3220, et. seq., Florida Statutes (the "Act") and which contemplates the renovation of the existing hotel and commercial building located on the Property (the "Planned Development"); WHEREAS, pursuant to the Development Agreement, the Owner has agreed to grant to the City a perpetual easement for the purpose of providing public pedestrian and vehicular access through and over that portion of Lincoln Road North of the center line of the existing road right- of-way lying East of the Eastern right-of-way line of Collins Avenue and which is more particularly described in Exhibit "B" attached hereto (the "Easement Parcel") in exchange for, among other things, the City vacating its rights in and to the Easement Parcel and the issuance of development permits and approvals in order to develop the Planned Development; and WHEREAS, pursuant to the Development Agreement, the Owner has agreed to construct certain improvements as described therein (the "Lincoln Road Improvements") in and on that portion of Lincoln Road lying East of Collins Avenue (the "Lincoln Road Section") and on that portion of the Property which the Owner has granted the City certain easement rights in order to provide public access to the beach and the Atlantic Ocean and the City has agreed to construct the Lincoln Road Improvements. \\C_ H\SYS\A 1TO\LEVL\DILJOO\LlncolnRoadEaIemenl.doc ~i NOW THEREFORE, in consideration of Ten and NollOO Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Owner by these presents hereby grants, sells, and conveys to the City, its successors and assigns, a perpetual easement on, in, and over the Easement Parcel for the purpose of providing public pedestrian and vehicular access through and over the Easement Parcel and for the purpose of laying, constructing, maintaining, repairing and replacing the Lincoln Road Improvements. The Owner and the City further agree to the following: 1. The Owner hereby grants to the City its employees, contractors, or representatives, the permanent right and license for purposes of ingress and egress to and from the Easement Parcel for the purposes of laying, constructing, operating, inspecting, maintaining, repairing, and replacing the public roadway, public sidewalks, landscaping, lighting, utilities and irrigation, and all other related improvements to be constructed on the Easement Parcel. The Owner hereby also grants the City the right to use and occupy the subsurface of the Easement Parcel for any utility or drainage or other use or purpose, including, without limitation, the right to construct, install, maintain and operate therein electrical, telephone, telegraph, telecommunication, gas, gasoline, sewer, water, and drainage fixtures and the Owner grants to the City the right to grant easements to third parties to do the same. 2. Following the completion of the Lincoln Road Improvements, the City shall have the sole responsibility and shall bear the total cost for the repair and maintenance of same, except for any repairs and maintenance arising from the negligence of the Owner or any successor thereto. 3. The City shall provide the same level of maintenance on the Easement Parcel and the improvements thereon as it currently provides for the Lincoln Road Mall. The City agrees that it shall insure and provide security for the Lincoln Road Section in the same manner as it provides security for its public sidewalks and right-of-ways. 4. The Owner reserves unto itself, its successors and assigns, the perpetual right and privilege of: a. Right of ingress and egress to and from the Easement Parcel for construction access to the Property, provided that Owner shall bear the cost for repairing any damage to the Easement Parcel, resulting from such construction; b. Unrestricted access to, over, across and in the Easement Parcel, provided that such use does not materially interfere with the continued use of the Easement Parcel as permitted herein by Grantee and the public; and 2 .Jo'. c. Using and occupying, and granting to any parties providing utility service, telephone service and to other similar parties, the right to use and occupy the subsurface of the Easement Parcel for any utility or drainage or other use or purpose which does not materially interfere with the non-exclusive rights herein granted to Grantee, and its authorized invitees, agents, employees, guests, lessees and licensees, including, without limitation, the right to construct, install, maintain and operate therein electrical, telephone, telegraph, telecommunication, gas, gasoline, sewer, water, and drainage fixtures. 5. The parties agree that in connection with each of their respective rights to install and maintain utilities in the subsurface of the Easement Parcel pursuant to this grant of easement, each party (i) shall notify the other of its intention to install, repair or otherwise maintain such utilities, (ii) shall cooperate fully with the other party and take such steps as may be necessary to insure that any such installation, maintenance or repair of said utilities will not interfere with the use or functioning of existing utilities, (iii) shall, to the extent feasible, integrate any proposed installation, maintenance or repair with any proposed work of a similar nature by the other party, and (iv) shall not unreasonably interfere with the use of the Easement Parcel by the other party as permitted under this grant of easement. 6. Owner shall not construct or permit to be constructed any structure or obstruction on or over or interfering with the construction, maintenance, or any other aspect of the Lincoln Road Improvements located upon the Easement Parcel. 7. Owner covenants, warrants and represents that (i) it is the fee simple owner of the Easement Parcel and has the right, title, and capacity to grant the perpetual easement granted herein, and (ii) Commercial Bank of Florida is the sole lienor and holder of a recorded (or unrecorded) security interest in the Easement Parcel. 8. This grant of perpetual easement shall inure to the benefit of and be binding upon the heirs, legal representatives, successors and assigns of the parties hereto, as applicable. 9. Notices. Any notices required or permitted to be given under this Easement shall be in writing and shall be deemed to have been given if delivered by hand, sent by recognized overnight courier (such as Federal Express) or mailed by certified or registered mail, return receipt requested, in a postage prepaid envelope, and addressed as follows: If to the City at: City of Miami Beach, City Hall 1700 Convention Center Drive Miami Beach, Florida 33139 Attn: City Manager, 3 City Attorney If to Owner at: c/o Bruce Lazar, Esq. Seville Beach Hotel, Suite M 2901 Collins Avenue Miami Beach, FL 33140 (if not in leave with concierge) With a copy to: Juan P. Loumiet, Esq. Greenberg Traurig, P.A. 1221 Brickell Avenue Miami, Florida 33131 Notices personally delivered or sent by overnight courier shall be deemed given on the date of delivery and notices mailed in accordance with the foregoing shall be deemed given three (3) days after deposit in the U.S. mails. The terms of this Section shall survive the termination of this Easement. 10. Construction. (a) This Easement shall be construed and governed in accordance with the laws of the State of Florida. All of the parties to this Agreement have participated fully in the negotiation and preparation hereof; and, accordingly, this Easement shall not be more strictly construed against anyone of the parties hereto. (b) In construing this Easement, the use of any gender shall include every other and all genders, and captions and section and paragraph headings shall be disregarded. (c) All of the exhibits attached to this Easement are incorporated in, and made a part of, this Agreement. 11. Severability. In the event any term or provision of this Easement be determined by appropriate judicial authority to be illegal or otherwise invalid, such provision shall be given its nearest legal meaning or construed as deleted as such authority determines, and the remainder of this Easement shall be construed to be in full force and effect. 12. Litigation. In the event of any litigation between the parties under this Easement for a breach hereof, the prevailing party shall be entitled to reasonable attorney's fees and court costs at all trial and appellate levels. The terms of this Section shall survive the termination of this Easement. 13. Time of Essence. Time shall be of the essence for each and every provision hereof. 4 14. Entire Agreement. This Easement, together with the documents referenced herein, constitute the entire agreement and understanding among the parties with respect to the subject matter hereof, and there are no other agreements, representations or warranties other than as set forth herein. This Easement may not be changed, altered or modified except by an instrument in writing signed by the party against whom enforcement of such change would be sought. 15. Force Maieure. Any prevention, delay or stoppage due to strikes, lockouts, labor disputes, acts of God, inability to obtain labor or materials or reasonable substitutes therefor, riot, civil commotion, fire or other casualty, and other causes beyond the reasonable control of the party obligated to perform, excluding the financial inability of such party to perform shall excuse the performance by such party for a period equal to any such period of prevention, delay or stoppage. IN WITNESS WHEREOF, the undersigned has caused this grant of perpetual easement to be executed by execution of this instrument as of this day of September, 1999. Witnesses: THE OWNER DI LIDO BEACH HOTEL CORPORATION, a Florida corporation Sign Name: Print Name: Sign Name: Print Name: By: Name: Bruce Lazar Title: Vice President 5 ~ CONSENT The undersigned lienor, owner and holder of a mortgage encumbering the Property, hereby consents to the grant of easement rights as provided herein and subordinates the lien and effect of its security interest to this Easement. COMMERCIAL BANK OF FLORIDA, a Florida banking corporation By: Name: Title: Sign Name: Print Name: Sign Name: Print Name: 6 STATE OF FLORIDA ) ) SS: COUNTY OF MIAMI-DADE) The foregoing instrument was acknowledged before me this _ day of September, 1999 by Bruce Lazar, as Vice President of Di Lido Beach Hotel Corporation, a Florida corporation, on behalf of the corporation. He is personally kllown to me or has produced as identification and who did (did not) take an oath. NOTARY PUBLIC Typed or Printed Name of Notary My Commission expires: Serial No., if any: ACKNOWLEDGED AND ACCEPTED this f#;- day of September, 1999 by: Sign Name: Print Name: CITY OF MIAMI BEACH, FLORIDA, a :~CiWI/tion . Witnesses: Neisen O. Kasdin, Mayor ~ f:udv.-- Robert Parcher, City Clerk APPROVED AS m FORM & LANGUAGE & FOR EXECUTION d1tm~ .J ~ mey ~/V.~J 7 STATE OF FLORIDA ) )SS: COUNTY OF MIAMI-DADE) The foregoing instrument was acknowledged before me this 91!i- day of September, 1999, by Neisen O. Kasdin, as Mayor of the City of Miami Beach, a municipal corporation, on behalf of the Corporation. He is personally known to me,. Qf-- l.ns ereatlcca- as identification and who d~: take an oath. ~tdEZvl' NOTARY PUBLIC \"Hlll" /#..1f'.'. r~~. Ruth Rub' b<"8);l MY COMMISSION # CC624373 EXPIRES <Jf/......~'.'< Apr1125,2001 '..9f.o~"" BONDED THRU TROY FAIN INSURANce. INC. Typed or Printed Name of Notary My Commission expires: Serial No., if any: . MIAMI/HERNANDEZJ/947176/k@%g07!.DOC/9/08/99 8