Memorandum of Option
MEMORANDUM OF OPTION
NOTICE IS HEREBY GIVEN that pursuant to the terms of that certain
Acquisition, Construction and Development Agreement ("Agreement"), executed and
delivered on June 6, 1994, between the CITY OF MIAMI BEACH, a Florida municipal
corporation ("Optionor") and THE BALLET VALET PARKING COMPANY, LTD., a Florida
limited partnership ("Optionee"), Optionor granted to Optionee an option to
purchase the property described on Exhibit "A" attached hereto ("City Property").
.1
The terms and conditions of the Option to Purchase are set forth in Article
IX of the Agreement. The Option must be exercised pursuant to the terms of said
Article IX and Optionee must exercise the Option during the period of thirty (30)
days commencing on the date which is the later of thirty (30) years after the
date the Optionor opens the Garage for service ,or the date upon which City
Financing Proceeds, including any bond financing utilized by the City to finance
and purchase of the City Property and the construction of the Garage have been
repaid or retired.
Capitalized terms used in this Memorandum of Option and not defined herein
shall have the definitions assigned to them in the Agreement.
This Memorandum of Option is executed for purposes of recordation in the
office of the Clerk of the Circuit Court of Dade County, Florida in order to give
notice of the existence of the Option contained in the Agreement, reference to
which is hereby made for any and all purposes.
This Memorandum of Option does not amend, modify or change any of the terms
and provisions to the Agreement and terms and conditions of the Agreement shall
prevail, in the event of any inconsistency, over any statements contained herein.
Memorandum of Option has been executed this ~~
I~~. t~S WHEREOF, this
day of ... I, 1/:.\, 1997.
Signed, sealed and delivered
i p sen e 0
(
/-cz/ By:
Pr1ntName
ATTEST:
"'---
Pr1ntName
APPR ED AS TO
FORM & LANGUAGE(SIGNATURES CONTINUED ON PAGE 2.)
& FOR EXECUTION
4'f4~ 511//~n
City Attorney ~
THE uu.ET vALft PAlUNQ COKFANt.
LTD., . Florida limited partnerahip
By:
"
By:
J.. ANTBO
[COUOUTI SUL]
STATI or FLORIDA )
cottMT! OF DAPI )
The fong01nl lnnrument was ac.knovledged before 116 thb J.L. day of.Au6
1997. by ~~ epJ~Jn.. "'.J::l~-Vt _alld , off1cials
of the City of ~~1.'e.eh, . Florida ~1cip.l corporat1Qn, on behalf of .aid
corporation. ~.#I (v-5 personally known to me or ( ) produced
.. 1dentlflcatlo~ and did not take an oath.
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M]A~J C_ ~~~
~~y llJB1.IC. STATI OF F1.O DA
(.OT~ lEAL)
COORTr or .- ) f"'^--. (
The forego1ng lutrWIent wu acknowlecis.d before .. thb x.. day of K..
1997, by 1. ANTHON! GOLDKiI, lres16ent of TKS BALLET VALET COil., . F1orl~
corporation, .ole ceneral partner of THE BALLET VALET FAKlINO COHPANY. LTD.. ·
Florlr:Sa ltm1te4 partnarahlp, on behalf of .aid coloration acting fol' ..1d limited
partner.hip, and who 18 penonally known to me and 61d. not take an oath.
)
STATI or
My Comml..1on Expir..:
(NOTAaUL SEAL)
clieDt.\~ol~\"',,~.~
2 NANCY P. QUINN
Notary Public, State of New York
No. 31-5002600
Co qu~lifie<! in Naw Yor~ Count
mmlSSJon EXPllH~ > ~ '! . /J (')
/Uv,7-/ 5r J
U~/U~/97 FRI 12:26 F.U 30561
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ROTH & SCHOLL
~ O(il
EXHIBIT A
CITY or MIAMI BEACH P~O~tRTY:
A p~rt ot Lot 1 tnxouqh 6. inclusive, Block 34, OCeAN BEACH, FLA.. ADDITION No.1.
· subdivision J;.corded in Plat Book 3 at p~g. 11 or the pUblic records of Dade
County, Florid~; said part described as follows: (Begin P.O.8.) .e the S.N. corn.~
of .aid Lot 6 and !;\)n S. 79"12'25" t. along the Sogth line of Lot 6, 45.16 teet;
thencQ run N.IO"47'JS" E. aCJ;OSS Lots 6, 5, 4 and 3, a distance or 200.00 feet to
a point on the ~oreh line of LOt Z, said point be1nq 45.16 teet Easterly of the
Southwest corner of said Lot 2; thence run N.29"55'12" E. a d~,tanee of 52.92 teet
to a po~nt on the North line of Lot 2, sai~ point being 6Z.~O trom the Northwest
COrner ot Lot Z; thQnce run ~.10.~7']S" e. a di~tance of 50.00 teet to the North
line of ~ot 1; thence run N.79'12'25~ W. alon9 t~e North line of Lot 1, 62.50 f.et
to the Northwest ;;orner ot Lot 1; thence 5.10.47'35" W. along the Westerly 11ne of
Block 34. along the Wesl:ar1y line of Lot. 1 through 6 inclusive, a d.S1;i1nce of
300.00 feet ~o the Point of aeqinning (P.O,8.).
Area of City of Miami Beach Proper~y lS 14,949 aquare :eet, more or less or ~.341
4cres, more ~r 1~3s.
ALSO:
The Horizontal Boundar, of . ~ilrt of Lot, 1 through 6, inclusive, Block 34; OC~
BEACH, PLA., AOOITtON No.1, iI subdivision record~d in Plat Boo~ 3 at page 11 of
the public :ecords ~f Dade coun~y, ~loridil; said part bounded as fo:low$; Bounded
'In the east by the E:asterly line of s~id Lots 1 throu9h 6, inclu,ive, bounded on
the ijorth by th~ Northerl, line of Lot 1; boundeci on the South by the Southerly
li:le of' Lot 6; bounded on the ioJellt by a l.;.ne desoribed ii' follows: CQImIBnCe
(P.O,C.; at the Southwesterll cornor of Lot 6 and run S.79'12'Z!l" &:. alon; the
Souther,1y line of Lot 6, ~ d15tance of 45.16 feet eo the P01.nt of Begi.nning
(?O.S.) of ~ald line; thence run N.10'4"3S. t. ~lon9 a line 4S.1~ feet Ea~terll
of the We~teIly line of Lots 6 th:ough 3, ~ dllltance ot 200,00 feet to t!'le
Nor:herly. line o~ te!ereneed lot 3; thenee run 101.29"55'12" 1::. acro.. Lot. Z, a
distance of 52.92 feet to the NOJ;therly 11ne of ~aid :.ot ~, 'ilid point being 62.5')
feet ~=om th. Northwe3t corner of Lot. Z; thence run N.:0.47'35/1 ~. acro,s Lot 1,
50.00 feet to a pctnt on the NOJ;:h line of Lot 1, ,aid polnt be1ng S2.50 teet from
the N.~. ~Orner of Lot 1. 8a.. ot Area described cont~ins sq~4re feet, morQ or
le,s, or actQS, more or le~s.
LESS ^IJD EXCI::PTING THEREfROM;
Air ~iltht~ R:~~@m@nl' l'AII
Air Righc, 'or th. Ea'te~ly 13.16 feet of Lot 1 :hrou9h 6, incl~,ive, Block 34,
OCEAN B€1\Cli, fr.A.. ADDITICN No. 1, I\ecoJ;ded ~n Plat Sock J, at page 11 of the
~ublic Record, of Dade County, Florida.
The ~owest Ver:ical Boundary of the above de3cr~bed Air Riqht~
of 40.00 feet, Nation;al GeodQtic Vertlcal Datum (N.G.V.D.I,
boundary ~f the 5a~d Air Right' is an ~lQvat.on of inf~nity.
Beach owns tho Air Ri;ncs from 40.00 ~Q.~ to ~nti~ity.
i, at an E:evation
1929. The upper
The City of Miami
Area 0' :he 8~~c of th~ A~r Right' is 2,632 square feet.
ALSO L~SS AND exCEPT!~G THE~EFRC~:
Air Ri.o:1hr~ ~~~f!mt!n~ lie"
Air Rights for a part of Lot$ 1 through S, inclusive, Bloek 34, OCEAN BeACH, rLA..
ADDITION No. 1, ~ecord.d 1n Pl~t Book J, at page 11 of the publie r.co~~s of Dace
Councy, noddil; ::.ud part bounded 3~ follows: Bound.d on th'll &:;ast: by II 11ne 13.16
feet ~e~tcrly o~ :hQ Eas~erly line ~t said Lots 1 through 6, lncl~s1ve, oounded on
the North by the Northerly linQ o~ Lot 1; bounded on the South by the Southerly
11". of l.ot 6; bounded on the Wp.st by <) line de.scribed .!s follows: COlMlence
(t'.O.C.) at thQ Southwel\tel'ly corner of Lot 0 and =un S.7So1Z'25" 5:.. along the
So~ner.Ly !info) of Lot 6, a di,tance of 45.16 teet to :he E'o.lnt of Be9inninq
:P.O.B.) of 'aid Ena; thence rut, N.10047'3S. ::. along a line ot 45.16 feet
Easeerly ot the ~esterly line ot Lots 6 tMrough 3, a distance of 200.00 tegt :0 the
tlort:herly line of reterenced Lot 3; thence run t-I.29"'i5'12" E. AcroSS Lot 2, a
distance of 52.92 feet to the Northe~~y line of said Lot 2, ,aid point being 62.50
feet !tom the ~orthwest corner 0' Lot 2; thence run N.10047'3S" E. acros, Lot 1,
SO.OO f.~t to ~ point or. the North line of Lot I, ,aid point being 62.50 feat from
the N.W. corner ot Lot 1.
The LO....I!~: Vertical Boundary of the above ~h~$Crlbed Air Ri;hts ':'11 at olin elevation
as shown on the adjacent aketch, Nat~onal Geode:ic Vertical Datum (N.G.V.D.); 1~29.
The upper boundary of the said Ai= Rights i, an elevation of in!~nity. The City
of Miami aeaeh owns :he Air Rights above the low.st vertical boundary to infinity.