Declaration of Restrictive Covenants 1965/1975 Washington Avenue~1.IIIN1f11111111Nllllllllltlllllllllllllllll! -
a CFN 2Ut]7R0453325
C . ° DR Bk 23591 Pss 101b - 10211 (bass)
~ RECORDED 03/04/2007 15:04:08
0
~~,~,• ~ Thisinshwnentpreparedby: HARVEY RUVINr CLERK OF COURT.
~r° Raul J.~Aguila tIIAtII-OADE COUNTYr FLORIDA
,~.~ = Office of the City Attorney
.~°~ c City of Miami Beach
- '-' 1700 Convention Center Drive
-' "' Miami Beach, Florida 33139 (Sneoe reserved for Clerk of court)
. ~ °a
~.F O
_~n ~•+. ._ DECLARATION OF RESTRICTIVE COVENANTS„ -
~~~' r. _. ._ _.. ... ... _ .. I.
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~'a E .This DeclarationofRestrictiveCovenants(hereinaftarthe"CovenanY~,iamadethis~dayof,2007
~w .a• F= by MBCDC: The London LLC, a Florida limited liability companywhose address is 945 Pennsylvania Avenue, Miami
N ~ Beach, Florida, 33139 (]ureinafter the "Owner'7.
~N» v
~m ~ o RECITALS:
° o w WHEREAS, Owner is a Florida limited Uability compatty whose sole member is Miami Beach Community
~ Development Corporation, Inc., a Flarida not-fdr-profit housing corporation which' is also the City of Miami Beach,
a ~ ~ Florida's designated Community Housing Development Organization (CHDO); and
cc3
,~,.o~ WHEREAS, Owner is undertaking a project ro acquire and renovatehehabilitate that ccxtain hisrorically
r°~a ~ w designated real properly located at 1965 Washington Averrue and 1975 Washington Avenue, MiamiBeach, Florida (and
z ° ~ hereinafter referred ro as the "Premises", as defined heroin and in Exhibit "A"attached and incorporatedhareto) for the
~ a i pnrpoae ofproviding affordable rental housing for low ro moderate i~ome individuals and families (the "Projecf~; and
WHEREAS, the Premises and Project arelis located within the City Center/Hisroric Convention Village
Redevelopment Ares, a community redevelopment area in the City of Miami Beach, Florida, designated aad created
pursuant ro Sections 163.330'! 163.463, Florida Statutes (the "Community Redevelopment Act of 1969" or the "Act")
(hereinafter referred ro as the;"City Center RDA"); and
WHEREAS, the Project is consistent with the City Center/Historic Convention Village Redevelopment and
Revitalization Area Plan, as adopted by the City of Miami Beach Commission and the Miami Beach Redevelopment.
Agency, respectively, and as approvedby the Miami-Dade County Board of County Commissioners (hereinafterreferred
to as, the "Redevelopment Plan"); and
WHEREAS, the Project wiU promote the Redeveloprn~nt Plan objectives by (i) restoring aad preserving
historically contnbuting properties within the City Center RDA; end (ii) creating pew affordable housing opportunities
within said RDA for low and moderate income individuals and families; and
WHEREAS, pursuant ro Miami Beach RedevelopmentAgencyReaolution No.540-2007, passed and adopted
on January 17,2007, andMiamiBeachRedevelopmentAgencyResolutionNo.545-2007, passedandadoptedonMarch
14, 2007, and subject further to the terms and conditions hereinafter contained, the RDA has agreed ro loan Owner the
funds for Owner's acquisition of the Premises.
WHEREAS, Owner and the Miami Beach Redevelopment Agency, a public body corporate and politic (the
"RDA'7 have entered into a LoanAgreement, datedApri130, 2007 (the "LoanAgreemenf~, whichprincipal amount was
ufilized by Owner in the ptuchaee of the Premises to accomplish the stated purposes of the Project; and
WHEREAS, the RDA desires, and Owner hereby acknowledges and agrees, to impose cerfainprovisions ofthe
Loan Agreement ae covenants and restrictions uponthe Premises and any irr~rovements located orhereinafti:rro be made
thereon.
NOW, THEREFORE, Owner voluntarily covenanb and agrees that the following Promises locatedin the City
of Miami Beach, Miami-Dade County, Florida, and legally described in Exhibit "A" attached and i»corporeted hereto
(hereinafter the "Prernises'y, shall be subject to the following restrictions that are intended and shall be deemes
r
NOTE: This Declaration of Restrictive Covenants is being re-re
eliminate the contents of the third page being deleted herein.
covenants conning with the land and binding upon Owner, and its s~ceasore in interest and asslgna, as follows:
1. ThefmdingasetforthinthoRecitslsofOdaCavemntareherebyadoptedbyreferonceandincorporated
herein as if fully set forth in this Section.
2. Miami Beach Redevelopment Agency(RDA)fuods,inOreamount ofFourMillionSixHundredThree
ThousandEightHundrodFiRyTwoDollarsand.50/100 ($4,603,852.50).(the"PrincipalAmouat'7,wereutiliudinthe
..purchase of the Premisea,_in order.to provide affordable housingfor tenants in accordance wifh.andconaiatentwlth the
powers granoed to the RDA pursuant to the Act, and the rents charged and the tenants theroofshaU qualityunder the roles
and regulations promulgated by the United States Department of Housing and Urban Development, as same maybe
amended from lima to time. Inconsideration of thesefunda, the Premises shall be subjectto the following restrictions for
aperiod ofthirty (30) years (Affordabdity Period), which period shall commence upon the date of issuance bl'the City of
Miami Heach Building Department of a Final Certificate of Completion for the renovation and rehabilitation of the
Premises for the stated use and purposes eomemplated by the Projeck
3. Restrictive Covenants. Owner shall be subject to the following covenants and restrictions:
(i) Owner moat use the Promises as as affordable rental property for a thirty (30) year period,
commencing from the date of issuance by the City ofMiami Beach Building Department of a Final
Certificate of Completion for the rehabilitnOonhenovatlon of the Piemiees (the "Affordability
Period'7, and the rents charged and the tenants thereof moat queUty under the xulea and regulations
promulgated by Ora United States Depermtent ofHousing end Urban Development at CFR Part 92, as
same maybe amended from time to time. Tema defined in 24 CFR Part 92, and soy arrnmlments
thereto, not otherwise defined in this Covenant, shall have the meaning set forth therein. In order to
further enauro the enforcement of this 3ecHon (3), Owner hereby recognizes, agrees, authorizes, and
covenants Otat the Premises shall notbe sold,transferred, disposed of, or otherwise conveyed, except
to the RDA, as provided herein.
(ii) If at any time during the Affordability Period, the Premises axe no longer used as .an
affordable rentalpropertyby the Owner, then the RDA, at its sole option and discroton, may electone
ofthe following options:
(a) Require Owner to re-pay the Principal Amount, fn fitU, together with all interest
thereon, and any and all other amounts as may then be or become due pursuant to the Loan
Agreement; or
(b) Require Owner, automatic~ily and without further action required by the RDA, to
promptly, on written demand, execute and deliver a Special Werramy Dad (subject to no
Uene or encumbrances creafedby through or undei Owner), conveying good and marketable
fen simple title in the Premises to the RDA. Owner shall be reaponaibk for the cost of
documentary stempsand/or other tax(es) imposed as a rosultofOre conveyance contemplated
by this subsection (ii)(b).
(iii) Upon the conclusion of the AffotdabiUy Period, the RDA may, at its sole option and
discretion, elect one of the following options:
(a) Hxtend the Loan Agreement and the Affordability Period for an additional term,
with such farm to be determined in the sole judgment and diacrotion of the RDA; or
(b) Requir6 Owner, automatically and without further action required by the RDA, to
promptly, on written demand, execute and deliver a Special Warranty Deed (subject to no
linos or encumbrances created by through or under Ownex), conveying good and markoable
fee simple title in the Premises to rho RDA. Ownex shall be reapoffiibk for the cost of
1. ThefmdingssetforthinthaRecitalsofthisCovenantareherobyadoptedbyreferenceand' orpbmted
herein as if folly set forth in this Section
2. Miami Beach Redevelopment Agency (RDA) funds, in the amount of Five Milli Six Hundred
Ninety Two Thousand FourHundredDollsrsand.00/100 (35,692,400.00)(ihe"PrincipalAmount'~, utilizedintha
purchase of the Premises, in order to provide affordable housing for tenants in accordance with and onsistent with the
powersgrantedtotheRDApursuanttotheAct,andtherentschargedaadthetenantsthereofahall alifyundorthemles
and regulations promolgated by the United States Department of Housing and Urban Develop t, as same tray be
amended from firm to tithe. In consideration of these funds, the Premises shell ba subject to the llowiag reatrictiom for
aperiodofthirty(30)years(AffordabilityPeriod),whichperiodahellcotnmenceuponthede ofiasuancebytheCityof
Miami Beach Building Dopatttmnt of a Finai Certificate of Completion for the renovati and rehabilitation of the
Premieres for the stated use and proposes contemplated by the Project.
3, Restrictive Covenants. Owner shall be subject to the following cov~nants and restrictions:
(i) Owner moat use the Premises as an affordable rental pr arty for a thirty (30) year period,
commencing from the date of issuance by Ote City of Miami B ch Building Department of a Final
Certiflcata of Completion for the rehabilitarion/renovatlon f the Pretniaes (the "Affordability
Period"), and the rents charged and the tenants thereof mos uelity under the rules and regulations
promulgatedbytiteUnited5tatesDepatlmetrtofHousinga UrbanDevslopmentatCFRPart92,as
same maybe amended from time to limo. Terms de in 24 CFR Part 92, and any amendments
thereto, not otherwise defun=din this Covenant, slmll a the meatting act fotUt therein. In order to
Nrtber ensure the enforcement of this Section (3), 0 heroby recognizes, agrees, authorizes, and
covenants that the Premises shall notbe sold, transf d, disposed of,'or otherwise conveyed, except
to the RDA, as provided herein.
(ii) If at any titter: during the
affordable rentalpropertyby the Oa
of the following options:
(s) Require Owtter to re
thereon, and any and all other
Agreement; or
Period, the Premises aro no longer used es an
DA, at its sole opton and discretion, may elect one
the Principal Amount, in full, together with all irdereat
ums ere may thenbe or becomo dun pursuant to the Loan
(b) Require Owner, utomaticelly and without further action required by the RDA, to
promptly, on written de nd, execute and deliver a Special Warsanty Deed (subject to no
liens or encurnbromes sled by through or under Owner), conveying goad end marketable
fen simple title in Premises to the RDA. Owner shall be responsible for the coat of
documentary slam andlor other tax(es) imposed as a result of the conveyance contemplated
by this subsecHo ii)(b).
(iii) Upon the co usion of the Affordability Period, the RDA may, at its sole option and
discretion, elect one the folowing options:
(a) tend the Loan Agreement and the Affordability Period for an additional term,
with su term to be determined in the sole judgment and discretion of the RDA; or
(b) Require Owner, automatically and without further action required by the RDA, to
pr tly, on written demand, execute and deliver a Special Warranty Deed (subject to no
li or encumbrances created by through orunder Owner), conveying good and marketable
NOTE: All of the above contents is, deleted in its entirety.
documentary stampsand/or other tax(es) imposed as a result ofthe conveyance contemplated
by this subsection (ii)(b).
(iv) The Principal Amount, together with all interestthereon, and any and all other amounts which
may become due and payable to the RDA under the Loan Agreement, shall remain a lien superior in
dignity to ell other liens, titles, claims, Agreements, and/or other encumbrances, until satisfied in the
manner provided in this Covenant, or in the Loan Agreement,
4. IT IS SPECD?ICALLY ACKNOWLEDGED BY THE PARTIES HERETO THAT THE
PREMISES ARE TO BE USED, OPERATED, AND MAINTAINED ONLY AS AN AFFORDABLE HOUSING
RESIDENTIAL RENTAL PROPERTY, AND FOR NO OTHER PURPOSE. USE OF THE PREMISES FOR
PURPOSES OTHERTHAN AS pN AFFORDABLE HOUSING RESIDENTIAL RENTAL PROPERTY SHALL
BE DEEMED A DEFAULT UNDER SECTION 3 HEREOF.
5. The foregoing covenants and reatYictlons shall be considered and construed as covenants and
restrictlone running with the land, and the same shall bind all persona claiming ownership of ell, or any portion of, the
Premises, Tha Owner hereby aclmowledges and agrees that the RDA and the City of Miami Bosch, Florida ("City'7,
respectlvaly, am intended to be the sole beneficiaries of this Covenant,'and nothing in this Covenant shall wafer upon
any person or entity, other than the RDA endlor the City, any rights or remedies under or by reason of this Covenant..
6. The Owner shall not release or amend tlds Covenant without the prior written consent of the RDA,
7. Invalidation of arty of these covenants by a court ofcompetent jurisdiction shall in no wayaffect any of
the other wvenante, which shall rerrrain in full force and affect.
8. This Covenant shall be recorded in the Public Records ofMiami-Dade County, Florida, at the cost of
the Owner.
9. It is understood and agreed that any o~ciel of the Miami BeachRedevelopment Agency (RDA) may
have the right at any time during normal working hours of entering and investigatingthe use ofthe Premises, to determine
whether the conditions of this Covenant and the requirements set forth herein, are being complied with.
10. An active to enforce the terms and conditions of this Covenantmay be brought by the RDA and/or the
City end tnay be by action et law or in equity against any party or peraoavialating or attempting to violate anypmvision
of this Covenant, either to restrain violations or to recover damages. The prevailing party in the action or suit shall be
entitled to rewver costs and reasonable attorneys' fees, at all levels of trial and appeal, This enforcementprovision shall
be in addition to any other remedies available under the law.
11. This Covenant is ro be coasnued in all respects and enforced acwrding to the laws of the State of
Florida. This Covenant shall ba governed by, and construed in accordance with, the laws of the State of Florida, both
substantive and remedial, withwt regard to the principles of conflict of levee, The exclusive venue Cor any litigation
arising out of this Covenant shall be Miami-Dade County, Florida, if in State court, on the U.S. District Cwrt, Southern
District of Florida, if in federal court.
F:lattoWGURWGRERMN7IMBCDC (7Le [.ondon, LLC Closing - Restrictive Cavennnt (Final 4-27-07).doe
[REMAINDER OF THIS PAGE LHFT INTBNTIONALLY BLANK].
IN WITNESS WHF.~,LBOF, rho 0 er has hereunto caused these presents to be signed and, attested by the
respective witnesses on this ~ day of _ .2007.
NITNBSSBS:
OWNER:
MBCDC: The London, LLC, a Florida limited liability company
By: Miami Beech Community Development Corporation, A
_ Florida non-pjrofit cot~pomti~on; its-sole member -
PrlntNampe: ~,zr `7^~'~~
UnA7~-~ By:
Naine: Roberto Datorre
Print Name: Title: President
STATE OF FLORIDA )
COUNTY OF MIAMI-DARE )
The foregoing Restrictive Covenant was acknowledged beforo me this3U day of 't r~ , 2007, by
Roberto Detest, as President ofMiami Beach CommunityDevelopment Corporation, a Florida non-profit corporation,
thesolemembetofM$CDC; The London,LLC,aFloridalinritedliability company,onbehalfofthecorlwration. Heis
personally known to me or bas produced Florida Driver's Incense No. _ ~~ as identification.
~~ ~
Natne:
Notary Public
State of Florida at Large
My commission expires:
4
EXHIBIT "A"
LEGAL DESCRIPTION
Tl~ Premises shall bo defined as the real property (the Land) located at 1965 Washington Avenue and 1975 Washington
Avenue, Miami Beach, Miami-Dada County, Florida, and legally described u. follows; _ .
That portion of Lot 1, Block H of Resubdivision of Blacks G, H, J and K and Triangular Tract lying
South of Block K and West ofBlock G, toge0ter with Cardinal Street (nowvacated), according to the
Amended Map of Ocean Fro~Property, of the Miami Beach ImprovomentCompany (said mapbeing
recorded in PlatBook 5 on Pege 7 and 8 of the Public Records ofDade County, Florida) according to
the Plat thereof, recorded in Plat Book 6, Page ]02 of the Public Records of Bade County, Florida,
more particularly described as follows, to win Commence at the Northeast corner ofLot 1, Block H of
a resubdivision of Blocks G, H, J, K and Triangular Tract lying South ofBlock K and West of Block
G, together with Cardinal Street (now vacated} according to the Amended Map of Ocean Front
Property of Miami Beach Improvement Company (recorded in Plat Book S on Pages 7 and 8 of the
Public Records of Dade County, Florida) according to the Plat thereof, recorded in Plat Book 6, Page
102 of the Public Records of Dade County, Plorida; thence Northwesterly along the Northerly
boundary line of said Lot 1, far a distance of 120 feet to aniron pipe; thence Southweaterlyparellel to
the Easterly boundary line of said Lot 1 for a distance of 61.19 feet to an uon pipe which ironpipe is
located 64 feet Northerly from the Southerly boundary line of said Lot 1, measured along the
prolongation Southwesterly of rho lastpreceding course and said iron pipe is the point ofboginning of
the parcel of land herein described; thence continue Southwesterly parallel with the Easterlyboundary
line of said Lot 1 for a distance of 44 feet to an iron pipe located 20 feet Northerly from the Southerly
line of said Lot 1 measured along the prolongatlon Southwesterly ofthe last preceding course; thence
Northwesterly along a line 20 feet Northeasterly from andparallel to the Southerly boundary line of
said Lot ] for a distance of 93.78 feet to an ironpipe located on the Westerlyboundary line ofsaid Lot
1 at a distance of 21,53 feet Northerly from the Southwesterly corner of saidLot 1, meastved along the
Westerly boundary line of said Lot 1; !hence Northerlyalong the W esterly boundary ]ins ofsaidlot 1
for a distance of 47.79 feet to an iron pipe; thence Southwesterly parallel with the Northerly boundary
lino of said Lot 1 and 61,19 feet Southwesterly therefrom, measured at right angles thereto for a
diatenca of 111.61 feet to the Point of Beginning of fha parcel of land herein described.
AND
Thatportion of Lot 1, B1ockH, of a Resubdivision ofBlocks G, H, J and K and Triangulaz Tract lying
South oCBlock K and West ofBiock G, together with Cardinal Street (now vacated) according to the
Amended Map of Ocean Front Property ofthe Miami Beach Improvement Company (said map being
recorded in Plat Book 5, Pages 7 and 8 of the Public Records ofDade County, Florida), acoording to
the Plat thereof, recorded in Plat Haok 6, Page 102, of the Public Records ofDade County, Florida,
more particularly described as follows, to wit:
Commence at the Northeasterly comer of Lot 1, Block H of a Resubdivision ofBlocks G, H, J, K and
Triangular Tract lying South of Brock K and West of Hlock G, together with Cardinal Street (now
vacated) according to the Amended Map of Ocean From Property of the Miami Beach Improvement
Company (recorded in Plat Book S, Pages 7 and 8 of the Public Records ofDade County, Florida),
according to the Plat thereof, recorded in Plat Book 6, Page 102, of the Public Records of Dade
County, Florida; thence Northwesterly along the Northerly boundary line of said Lot 1 for a distance
of 120 feet to an 'non pipe marking the Point of Beginning of the parcel of land herein described;
thence Southwwtetly parallel to the Basterlyboundary line of said Lot 1 for a distance of 61.19 feet to
a point which is 64 feet Northerly from the Southerly boundary line ofseid Lot 1 measured along the
prolongation Southwesterly of the lest preceding course; thence Northwesterly parallel with the
5
DR BK 2SSF1 PG 1a72i
'~ LAST PAGE
ll)
~' Northerly boundary of said Lot 1 for a distanco of 111.64 feet to an iron pipe located on the Westerly
~ boundary lineofsaidLotlatadistanceof69.32feetNortherlyfromtheSouthwesterlycomerofsaid
tj Lot 1, measured along the Wessterly boundary line of said Lat 1; thence Northerly along the Westerly
fL boundary line of said Lot 1 for a distance of 43.76 feet to the beginning ofa tangential circular curve;
thence Northerly and Easterly along the Northwesterly boundary line of said Lot l and along a
~ W tangential circular curve having a radius of 15 feet through a central angle of 111 degrees 56 minutae
~ ~ 30 seconds for an arc distance of 29.31 feet to the end of said curve; thence Southeasterly along the
u„i ~ Northerly boundary line ofsaid Lot 1 for a distance of 114.09 feet.to the point of Beginning of the
~,~ ~ parcel of land herein described.
~ F. and shall include the Land thereof together with anybuildings (including footings and foundations), equipment, fixtures,
(;1 N and other improvements and appurtenances of every Idnd and description now or hereafter executed, constntcted or
0 Q plaid upon the Land and any and all alterations and replacements thereof, additions thereto and substitutions therefor.
Cil .l
STATE OF FLORIDA, COUNTY OF DADE y~r.
I HEREBYCERTIFYfha! N/S /s a five
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6