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Recorded Acknowledgement & Agrm Return copy to: Murray D. Shear, Esq. 17~ N.W. 1st Avenue, #2000 Mi~, Florida 33128 ~~~: I 6396rr080 I 94R280381 1994 JUH 08 15:58 ACKHOwr.F.DGEMENT AND AGREKMERT This Acknowledgement and Agreement is undertaken by Leo-James, Insp-, a Florida corporation, ("Leo-James") and is dated the I/~ day of June, 1994. RECITALS: WHEREAS, Leo-James owns the real property legally described on Exhibit "A" attached hereto and made a part hereof ("Lot 1"); WHEREAS the city of Miami Beach, a Florida municipal corporation, (the "City") and Ballet Valet Parking Company, Ltd., a Florida limited partnership, ("Ballet Valet") have entered into a certain Acquisition, Construction and Development Agreement for the development of a garage (the "Garage") and contiguous retail space ("Retail Space") (collectively, the "Project") on the property legal described on Exhibit "A" and attached hereto and made a part hereof; WHEREAS, Lot 1 will become part of the Retail Space after its development and renovation pursuant to the terms of a separate agreement by and between Leo-James and Ballet Valet; WHEREAS, the contiguity of the Garage and Retail Space require easements for support of the Garage. NOW, THEREFORE, Leo-James does hereby acknowledge and agree with respect to Lot 1 as follows: 1. Standard of Maintena~ Leo-James hereby agrees to maintain Lot 1 (exclusive of the City's easement areas) consistent with the overall attractive quality of the Project. 2. Covenant for Payment of Public Charaes. Leo-James covenants and agrees to pay and discharge, before any fine, penalty, interest or cost may be added, all taxes, service charges, water rents, and other public charges (hereinafter called "Public Charges") which, if not paid, would be a charge, claim or lien upon or against Lot 1, or any part thereof). Leo-James shall not take any action which would result in any charge, claim or lien upon or against the City Property including any portion of the Garage. Notwithstanding the provisions of the preceding sentence, Leo-James shall have the right to pay Public Charges in installments if permitted by law, ? ~~ Ofr. '639&~0802 REC. and to contest the amount or validity, in whole or in part, of any Public Charges by appropriate proceedings, provided, however, that Leo-James shall prosecute such proceedings with reasonable diligence, and either pay all disputed Public Charges or escrow an appropriate sum as reasonably required by the City or the taxing authority for the full payment of such Public Charges being contested after completion of such proceedings. In the event that the City pays any of the Public Charges after 10 days written notice to Leo-James and Leo-James' failure to pay same, as provided herein, the City shall have a lien on Lot 1 and the improvements thereon and may evidence such lien by a notarized statement executed by any authorized City official which the City, at its option, may record in the Public Records of Dade County, Florida, confirming the date of payment by the City of the Public Charges, a description of the type of Public Charges paid by the City, and the amount of the Public Charges. If, within 30 days after filing of the notarized statement and written notice to Leo-James of its filing, Leo-James does not reimburse the City for payment of the Public Charges together with interest thereon at the highest lawful rate from date of payment thereof by the City, the City shall have the right to declare a default by Leo-James of the covenant to pay Public Charges contained herein and on the Easements as defined in Paragraph 4 hereof, in addition to all other remedies provided to remedy a default by Leo-James, to foreclose the lien and sell Lot 1, as improved, to recover the amount paid to satisfy the Public Charges, plus interest at the highest lawful rate and reasonable attorneys' fees, costs and expenses incurred in enforcing its rights hereunder. The City, its assignee or designee may be purchaser of the Lot 1 at said sale and may bid the amount of its lien and any judgment it holds in lieu of cash. The City's lien rights hereunder shall be a covenant running with the land and shall be contained in the instrument to be recorded against Lot 1 containing the Easements. 3. Evidence of Payment of Public Charaes. Leo-James shall, upon request by the City, furnish or cause to be furnished, to the City, on or before a penalty is due, official receipts of the appropriate taxing authorities or other proof satisfactory to the City, evidencing the payment of any Public Charges which were due and payable on Lot 1 and shall furnish same at any time within ten (10) days after the date of any request by the City. 4. Grant of Easement. Easements. Leo-James hereby agrees to grant the City the following easements on Lot 1 (the "Easements") at such time as the final plans and specifications for the Project are complete: -2- ~t~: , 63900r0803 (A) the right of the City, its successors, assigns, patrons, tenants, invitees and all other persons designated by or having business with the City to access and use alone or in conjunction with Leo-James, and all others of all public sidewalks, streets, avenues, curbs and roadways fronting on and abutting the Premises; (B) the right of support and right of use in respect of, and to maintain and access within the Retail Space located on the portion of Lot 1 owned by Leo James, all essential structural support elements, pertaining to the support, use and operation of the Garage; such easements being preliminarily described on Exhibit A. At such time as the plans and specifications for the Garage are finalized, Leo-James, and the City shall enter into an easement agreement granting the City the Easements described aforesaid. In the event the final plans and specifications for the Garage require relocation of the easements presently described on Exhibit "A," the City shall have the right to relocate the location of the easements with the prior written consent of Leo-James, which consent shall not be withheld, provided such relocation is minor and does not materially and adversely affect the use of the improvements to be constructed on Lot 1. (C) the right to access, use, inspect, maintain, repair, renew and replace such columns, supports, foundations and any drains or utility lines. (D) the right to reasonably close, disturb and interrupt the business, use and operations within the premises or any part thereof, including any business and use being conducted by Leo-James, or any successor, assign, tenant or licensee of Leo-James, during any period of maintenance or work by the City of any of Lot 1 pursuant to the easements; provided, however, that the City shall use its best effort not to close, disturb or interrupt the business within or use of the premises and that any closure of a business or use would occur only if the City had no other reasonable alternative in connection with the repair, maintenance or replacement of the improvements in the Easement area. The Easements shall be continuing and shall be a covenant running with Lot 1 and shall apply to the original construction of the Garage and to any replacements and relocation of the Garage and of any of the improvements within the Easements and within Lot 1. The City shall permit the columns in the Easements to be decorated so long as such decoration does not impact the structural integrity of the columns. 5. Successors and Assions. The covenants, agreements and acknowledgements contained herein are intended to bind Leo-James, its successors and assigns and shall be construed as a covenant with Lot 1. All purchasers of Lot 1 or and portion thereof, are hereby put on notice of the continuing obligations contained herein. -3- Off. \ 6~9fi(0804 REC. '" IN WITNESS WHEREOF, Leo-James has caused this Acknowledgement and Agreement to be executed as of the first date above written. Witnesses: LEO_JAMES~INC" a Florida corporati By: ~ \,},'CIl - Pr sldent ~~c>~ N : -.Jo~ 8,. ~...,., ~C\Zr~ Name: STATE OF FLORIDA ) )ss COUNTY OF DADE ) I HEREBY CERTIFY that on this day, before me, an officer duly authorized in the State and County aforesaid to take acknowledgements, personally appeared :1a~s. "ep...""tdc...... as VirQ.-PW'~s~,~t~ of Leo-James, Inc. a Florida corporation, who is personally known to me and who executed the foregoing instrument on behalf of Leo-James, Inc., a Florida corporation. WITNESS mt hand and seal in the County and State last aforesaid this \ ~- day of 'rlo"",~_ ' 1994. ~~.~-? otary Publ c AL1/2699 #~^' .11. ~1t.ft.t' JOSEPH B RYAN III My Cu.......n CC318782 EJcpirw Sep. 27.1.7 Bonded by HAl IlOO-422-1555 -4- Ofr. 1639&r0805 REC. ~.. . . - -.- T~'e ::OIS;ar11 -'Z.6:: Df.eet of the Southerly 4Z.00 fJet of lqt '1 .afl<! -" " -t:1e ~astH11 ?D.IC feetofth'~,pjor.i.~.~r1Y 8;00 fe,et; ofLQt"l. Jll.r,t~' """:""{; :JloclC. 34. OUn ,Beach; Ph.. 'Ad(Utfoo'.R~," 1.r(H;ordeq:tn:.p.l~t'aj)o~:3,~>~/_,; ;cl t. poage 11 af t.io::" pub 1 i c records )~'f Oade County. .nor.hla~, . '., ',;' :;.::: . j}o~~'riY-'~ sc,Hjc;;~- 'GiJ:t,~ f D~ 'jA.i~~~ .:,';'{~ '-~~~'~~:1;~~'~:: ," .":~-~~~::;; .~~\:i<~ > _. _~ .'::.'._~_ - '"'. . ~ -.' -~--:J-' a'~' ". .-', <:,.,:_":~-:.,,,"'_: '."'~' _" - : - . . t. - -. . ,'. EXHIBIT "A" THEIlREL BAISDEN' & MEYER WEISS MAY-25-1994 08:33 , " . \ ~.)': \ .; " i 1 1 FI': ROSEN FND SW I TKES _......--:../ ~ft: I Q396r~0806 . TO ...J 67408la7 ''1.0.:'''-0' ...:..... . ----.-........... . . _~ ,,'.41' .-- ------- I I. I ~ !~ ~ I~ ~ t :e l!l~ ~ _ \~ ~ "'2:..- . I ....--- ,.,. . t , \. : ~r\ 11. 0 CJ:J ~ n- . ~ ~..\. al '.~ . :..,.., ..,- . -0--' ~ .\ I -\ " , ,I ~ ~ ~ \ . '. \ ~_J .--~f-l. I J : I \ . . . \ '. I I , e , .. \ "'- , . I I .\ I . " l' . I \ ~' co ., I. . \,r .. \ . I ' r-\.. '" r \+ . ' \' I ! . . .-. . .. . -~ -- -~-- II<l ......A -t- ~ .. ,"'. ,. \ ,l\.: ~. '., ./, 0 .......~f _1_---. .- . \ ''C'll . : (1 ~ · . T r \.:t,. "., ' \ \f ~ '" _ __J ..' I 0..1 ) ~- ',' ~....~ po-- _.......-wt. P.05 -:p ( ( ~0 ( f: , (jJ t.. (v\ \A ." 0 ~ ~ ;1,' :, ......:: (,<) I Y- o ' "'L.2 \ :c .. . .. j , , I , I I ~ . j' I ,I 0\' \ \ I I I \ I , I \ \ RECORDED IN Off ICIAL REcoRDS I?o& Of DADE COUNTY. fLOR/DA. ' RfrOR~ vfR'<'~" HARVE't' RUV1Nl' ~Ielk ot CirCUit & Coun\! CoUrts ~J 'I' , 1 , i " , , , ; ~::t:. . . ,/.