Subordination of Lien
This instrument was prepared by:
Debi Evans Galler, Esq.
Berger Singerman, P.A.
200 S. Bayshore Drive
Suite 1000
Miami, FL 33131
SUBORDINATION OF LIEN
WHEREAS, the City of Miami Beach, Florida (City), whose address is 1700 Convention Center
Dr., Miami Beach, FL 33139, is the holder of a lien, dated September 21S`, 2000, and recorded
November 18, 2000, in Official Records Book 19370, at Page 1686 of the Public Records of
Miami-Dade County, Florida (and herein referred to as the "Master Lien") on the following
described property:
All air rights at and above a horizontal plane conforming to the lot size, and
commencing at elevation 23.81 feet bay datum, above the premises on Sixth
Street and Collins Avenue, Miami Beach, Florida, more particularly:
That certain parcel of land consisting of .57 acres, more or less, situate, lying
and being at or about the Southeast corner of Sixth Street and Collins Avenue,
Miami Beach, Dade County, Florida, to wit: the North 26 feet of Lot 9, all of
Lots 10, 11 and 12, LESS the North 5 feet of Lot 12, Block 2, FRIEDMAN AND
COPE SUBDIVISION OF EDMUND WILSON TRACT, according to the Plat
thereof recorded in Plat Book 4, page 83, of the Public Records of Miami-Dade
County, Florida.
WHEREAS, The Miami Beach Senior Citizens Housing Development Corporation, Inc., a
Florida non-profit corporation, as owner of said property ("Owner") desires to obtain a second
mortgage on said property;
WHEREAS, it is necessary that the mortgage in favor of Florida Housing Finance Corporation,
its successors and/or assigns, (the "Lender"), which secures a note in the amount of One
Hundred Seventy Five Thousand Seven Hundred Forty and NO/100 Dollars ($175,740.00)
hereinafter referred to as, (the "Second Mortgage"), be a second lien on the property in question
junior only to the lien in favor of the Secretary of Housing and Urban Development, recorded in
Official Records Book 9967, page 275, of the Public Records of Miami-Dade County, Florida, in
the original principal amount of $7,796,700.00;
WHEREAS, the City is willing to subordinate the lien of the Master Lien to the lien of the
Second Mortgage, subject to and conditioned upon those certain terms and conditions as set forth
in City Resolution No. 2007-26670, attached and incorporated as Exhibit "A" hereto, and
Owner's compliance with same.
NOW THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt of which is hereby acknowledged, the City hereby subordinates the lien
of its Master Lien to the lien of the Second Mortgage, said subordination subject to and
conditioned upon Owner's compliance with City Resolution No. 2007-26670, so that the Second
Mortgage will be prior in all respects and with regard to all funds advanced thereunder to the lien
of the Master Lien.
IN WITNESS WHEREOF, the said City has executed this Subordination of Lien this
/:~ day of e~'~~a~/3~12-, 2007.
Attest:
By:
lC~~.t ~ ~Cxti L~c~-
Signature
~v I~ ~T ~'~~~~ Cyr ~. c ~ltl~.
Print Name/Title
CITY OF MIAMI BEACH, FLORIDA
By: . ~~~
Sign re
Print Name/Title
STATE OF FLORIDA )
SS
MIAMI-DADE COUNTY )
The fore oing instrument was acknowledged before me this
by H ~ I c~t~M • ~'Prn3Q~Jl~P7., as f)C7"in-c- C i TY ~-f ~in,'gGP ~"
Florida, who is personally known to me or 1}~se
~---~~,
7 day of ' Vt?I~~'r" 2007,
for the City of Miami Beach,
~ ~ L tC.C,~~t
Notary Publi ~%/%~l~t'~i~r' kn~~
Printed Name: S TO
[NOTARY SEAL] M co expires~A~UAGE
~" " ~• uu~ ~"a'"P ~ FOR CUTION
MY COMMISSION # DD 530416
EXPIRES: April29, 2010 ~
~~ °f r •r BOA~°d Thru NomY FUbNc Urdenvdlus , f /~`~ ,j _'/f
1 C/
ity Attorney ~- '~\ Date
Page 1 of 1
Hernandez, Kerry
From: Parcher, Robert
Sent: Thursday, November 15, 2007 3:12 PM
To: Aguila, Raul; Hernandez, Kerry
Subject: Subordination of Lien
Raul the Subordination of Lien was executed this afternoon. Once recorded, will you pls send me a copy of the
recorded document.
Kerry, I left the copy on your chair. Please file with resolution 2007-26670 and place in pending, until the
recorded copy arrives.
Thanks all.
Bob
MIAMIBIEACH
Robert Parcher, City Clerk
CITY CLERK'S OFFICE
1700 Convention Center Drive, Miami Beach, FL 33139
Tel: 305-673-7411 I Fax: 305-673-7254 ! www.miamibeachfl.gov
We are committed to providing excellent public service and safety to all who live, work and play in our vibrant, tropical, historic community.
11 / 16/2007