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Agenda 11-13-12
I 11. Invocation and Pledge to the Flag I ! I 92NNUS�--� V. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda VI. Informational Items and Disclosures by Board Members and CRA Staff-. A. Disclosure of Conflicts, Contacts and Relationships for Items Presented to the CRA Boari on Agenda Items I VIII. Consent Agenda: �Z- Approval of Period Ended October 31, 2012 Financial Report 5141005 11 9111111M• �- IX. Pulled Consent Agenda Items: X. Information Only: 0222��W. v. !1;71 1111111��111��IIIIIIIJ p, M -M X1. Public Comments: (Note: comments are limited to 3 minutes in duration) M 0 A. Consideration of Approval of Sidewalk C66 Permit for The Little House — 480 E. Ocean Avenue r.01 A. Update on Haunted Pirates Fest B. Consideration of Transfer of Properties located at 118 & 124 NW 10"' Avenue to the City of Boynton Beach XIV. New Business: A. Consideration of Request from HAP Grant Recipients, Teasha & Kelly Thomas, to Accep! Terms of Short Sale Negotiation (Tabled 10/9/12) Consideration of Request from HAP Grant Recipient, Erica. Poag, to Accept Terms of Shco Sale Negotiation C. Consideration of Request from HAP Grant Recipient, Lauren Godden, to Accept Terms of Short Sale Negotiation D. Consideration of Request from HAP Grant Recipients, Hector & Jennifer Lopez, to Accept Terms of Short Sale Negotiation F. Consideration of Submittal of Application for Local Historic Register for 211 E. Ocejj H. Consideration of Issuing an RFP/RFQ for the Sale and Redevelopment of 211 E. Ocean Avenue 1. Consideration of Approval of Resolution 12-09 Waiving the CRA's Right to Declare a Default of Direct Incentive Funding Agreement ("DIFA") between the CRA and Boynton Waterways Investment Associates, LLC and Consenting to Assignment of the DIFA to CJUF III Promenade J. Consideration of Kimley Horn & Associates Contract for Design and Engineering Services for the Proposed Parking Lot Project at the Comer of NE I"' Avenue and NE I" Street 1 Future Agenda Items XVIl. Adjournment NOTICE THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CITY. PLEASE CONTACT THE CRA AT (561) 737 -3256 AT LEAST TWENTY -FOUR HOURS PRIOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ,,,, BOYNTON cR A BE ACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda 1 1 Old Business 1 1 New Business 1 1 Legal 1 1 Executive Director's Report SUBJECT: Holiday Extravaganza 2012. • SUMMARY: On Saturday, December 1, 2012, the Boynton Beach CRA presents Holiday Extravaganza. • The Parade runs from 5:OOpm to 6:30pm, North in the Southbound lane of Federal Hwy., from SE 12 Avenue to E. Ocean Avenue. • The Tree and Menorah Lightings will take place at 6:45pm at the Schoolhouse Children's Museum at 129 East Ocean Avenue (just east of Seacrest). • The FREE Concert features THE CONTOURS — an original Motown group doing their MOTOWN SHOW which showcases their original hits along with those of the Temptations, 4 Tops, The Miracles and Stevie Wonder. • The concert starts at 7:OOpm until 10:OOpm on East Ocean Avenue between Seacrest and NE 1St Street. • Food and beverage vendors will be available. • No pets please. • Free shuttle service from the NE corner of Federal Hwy. & Ocean Ave. to the concert site from 6:30pm until 10:OOpm. • Everyone is encouraged to bring new unwrapped toys for Toys for Tots. FISCAL IMPACT: CRA PLAN, PROGRAM OR PROJECT: Budgeted in line item 02 -58500 -480. RECOMMENDATIONS /OPTIONS: Kathy Biscuit' Special Event Director BOYNTON �� ��::�BEACH$ CRA BOARD MEETING OF: November 13, 2012 I Consent Agenda I I Old Business J I New Business I I Legal I 1 Executive Director's Report SUBJECT: Holiday Boat Parade, Friday, December 7, 2012. • SUMMARY: On Friday, December 7, 2012, the Boynton Beach CRA presents the Holiday Boat Parade. • Parade starts at 6:30 pm and runs south from the Boynton Inlet to the C -15 canal south of Delray Beach. • Public viewing area at the Boynton Harbor Marina — festivities begin at 5:30pm. • Live entertainment and a visit from Santa. • Food and drinks available for purchase. • Please bring new, unwrapped toys for Toys for Tots • US Marines will be on land and water for toy collection • No pets please. • Parking onsite in the parking garage and on the NE corner of N. Federal Hwy. and E. Ocean Avenue. • To enter your boat in the parade, call the CRA 737 -3256 x -212. FISCAL IMPACT: Budgeted in line item 02 -58500 -480. CRA PLAN, PROGRAM OR PROJECT: RECOMMENDATIONS /OPTIONS: kW/4 Ka y Biscuiti Special Events t irector MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING, HELD ON TUESDAY, OCTOBER 9, 2012, AT 6:30 PM IN COMMISSION CHAMBER 100 E. BOYNTON BEACH BLVD. BOYNTON BEACH, FL PRESENT: Woodrow Hay, Chair Vivian Brooks, Executive Director Mack McCray, Vice Chair James Cherof, Board Counsel James "Buck" Buchanan Steven Holzman Mark Karageorge Marlene Ross I. Call to Order Chair Hay called the meeting to order at approximately 6:30 p.m. II. Invocation and Pledge to the Flag Chair Hay gave the invocation and Vice Chair McCray led the Pledge of Allegiance to the Flag. III. Roll CaII The Recording Secretary called the roll. A quorum was present. IV. Legal: None V. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda Chair Hay announced XIII. New Business, Item D was pulled. Mr. Buchanan had no disclosures or items to add or remove. Mr. Holzman pulled Consent Agenda Items, E, F, and G. Vice Chair McCray disclosed he met with Attorney Bonnie Miskel regarding New Business, Item D that was pulled. For Informational Items, he announced Pastor Lance Chaney's 10th Anniversary would be celebrated the fourth Sunday of October at 10 a.m. 1 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 Ms. Ross received an invitation to the 2012 South Florida Veterans Day Dinner at Benvenuto to be held on November 12, 2012, at 6:30 p.m. The speakers were Congressmen Allen West and Ted Deutsch. The American Military Organization was the sponsor, and other veteran's organizations would be involved. Ms. Ross also disclosed a friend of hers was involved in XIII New Business, Item E, which was added to the amended agenda. Mr. Karageorge also disclosed he knew the realtor involved in New Business, Item E, which was on the amended agenda and that he would not receive any personal gain. He pulled Items 8 B and D. For Informational Items, he announced he attended the Annual Blessing of the Animals and reported it was an enjoyable event Chair Hay announced he also attended the Blessing of the Animals. He thanked staff for participating with the read to the kids at the various elementary schools this week. The book read was "Lady Bug Girl and the Bug Squad ". He thought they would beat out West Palm Beach. B. Adoption of Agenda Motion Vice Chair McCray moved to approve the agenda as amended. Mr. Holzman seconded the motion that unanimously passed. VI. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts and Relationships for Items Presented to the CRA Board on Agenda Items B. Informational Announcements These items were addressed under Agenda Approval. VII. Announcements & Awards: A. Boynton Beach Haunted Pirate Fest Kathy Biscuiti, Special Events Director, announced the First Annual Haunted Pirate Fest would be held on October 27 and 28th, from 10 a.m. to 5 p.m. on Ocean Avenue. The entire block would be closed and there would be three stages, continuous entertainment, pirate enactments, sword fights, a mermaid tank, a comedy and magic show, children's treasure hunts and events for children such as a bounce house, a pirate ship slide and a rock climbing wall. Over 70 pirates would be on site the entire weekend. Continuous music would be on the amphitheater stage and there would be a 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 60 -foot dining tent with food and beverages. It was hoped each year, this event would grow. C. Sunday in the Park This past Sunday was the first Sunday in the Park; however; due to the rain, the event was cancelled. The next event was November 7, from 12 noon to 3 p.m. with Paul Bee. Mr. Bee plays several instruments. He records himself on some instruments and plays others resulting in many types of music. Ms. Biscuiti pointed out the park was located on the corner of 4th and Ocean. Vivian Brooks, Executive Director, announced the Community Redevelopment Agency won the Florida Sustainability Award with the City for the Seaboum Cove project in the Government category. This was the largest green project of its kind in the U.S. The City /CRA partnership helped offset the cost of the green elements and for that effort, received the award. Chair Hay acknowledged the award was a nice award, which was in the Commissioner's Office and he noted Boynton Beach beat out big cities such as Tallahassee and Orlando. He also recognized the developer Rick Lococo for a great job. VIII. Consent Agenda: A. Approval of Minutes — CRA Budget Meeting, August 22, 2012 B. Approval of Minutes — CRA Board Meeting, September 11, 2012 This item was pulled. C. Approval of Period Ended September 30, 2012 Financial Report D. Monthly Purchase Orders This item was pulled. E. Approval of Contract between Dee Dee Morrison and the CRA for Art on Ocean Avenue in the Amount of $10,000 — Tabled 9/11/12 This item was pulled. F. Approval of Contract between David Langley and the CRA for Art on Ocean Avenue in the Amount of $17,925 — Tabled 9/11/12 This item was pulled. 3 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 G. Approval of Contract between Jo Chamness and the CRA for Art on Ocean Avenue in the Amount of $10,000 — Tabled 9/11/12 This item was pulled. IX. Pulled Consent Agenda Items: B. Approval of Minutes — CRA Board Meeting, September 11, 2012 Mr. Karageorge noted a change on page 2, Item VI. A of the minutes that he attended Ms. Smallridge's son's football game, not softball game. Motion Mr. Karageorge moved to approve the minutes. Vice Chair McCray seconded the motion that unanimously passed, D. Monthly Purchase Orders Mr. Karageorge inquired if the purchase orders were for items to be acquired in October and November. Along that line, he had a question on the Swan Development Proforma Analysis. Ms. Brooks explained staff was directed to have them look at the numbers. They had a purchase order open when that would occur. The Kimley -Horn purchase order was for their services for work on Boynton Beach Boulevard, Motion Mr. Karageorge moved to approve Vice Chair McCray seconded the motion that unanimously passed. E. Approval of Contract between Dee Dee Morrison and the CRA for Art on Ocean Avenue in the Amount of $10,000 — Tabled 9/11/12 F Approval of Contract between David Langley and the CRA for Art on Ocean Avenue in the Amount of $17,925 — Tabled 9/11/12 G. Approval of Contract between Jo Chamness and the CRA for Art on Ocean Avenue in the Amount of $10,000 — Tabled 9/11/12 Motion Vice Chair McCray moved to remove from the table. Mr Karageorge seconded the motion that unanimously passed. 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 There were no objections to hearing Items E, F, and G together and Mr. Holzman inquired if the artists were from Boynton Beach, and if not, why. Debby Coles - Dobay, Public Art Administrator, explained the Call to Artist procedure. The Call to Artists for this project was posted in numerous places and through numerous media. About 30 responses were received, many from local artists. A selection committee composed of Community Redevelopment Agency staff, Arts Commission Board members, a public artist and other stakeholders in the project, such as Glenda Hall, narrowed the submissions down based on the artist's qualifications and how the pieces would look collectively. Preference is given to artists residing in Boynton Beach; however, the artists from the area did not have the skill sets and could not match the criteria needed. An overview is given so artists were made aware of the process. Barbara Ready, Arts Commission Chair, explained the criterion the art was selected on was contingent on other factors aside from where the artist lived, and that there was a difference between public artists and other artists. Ms. Coles -Dobay clarified public artists have training in different materials that last outdoors. They are familiar with the structural components each piece needs to have to ensure its durability and public safety. The subject pieces were unusual as they would be displayed as art hanging from the trees. The pieces were lightweight, illuminated, and not all artists could deal with these types of materials and with the lighting needed for them. The Arts Commission gives opportunities to all kinds of artists and all could apply, but with this project, the artists had to demonstrate they were familiar with these aspects and prove they had done so in the past. These individuals could install their own artwork and had the training to do so. Mr. Holzman suggested giving a greater preference to local artists in the future. He noted they keep hearing about a group of local artists in Boynton Beach. When opportunities arise, much effort should be given to ensure they are supported. Further discussion ensued about the electrical components to the artwork and Mr. Karageorge inquired if an electrician would be used. Ms. Brooks responded they were waiting for prices, and they would try to use a local electrician as long as it was within the budget. The figures provided were not inclusive of the electric and many electricians cannot do this type of work. Mr. Karageorge recalled this project was delayed due to issues with the electricity. The project was a tricky project, but he was concerned the electrical cost may come in at a level that would make it uncomfortable when considering the total cost. He preferred to have a better grasp of the cost before moving forward with the item. Ms. Brooks explained they received enough information to know the total cost would be within budget. Both Ms. Brooks and Ms. Harris were comfortable with the numbers. Vice 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 Chair McCray preferred to see the cost beforehand and inquired if the item had to be passed at this meeting. Ms. Brooks explained the artists have to get started making the item. The Community Redevelopment Agency had a budget for the item and with the electrical figures they received to -date, they were within budget. Mike Simon, Development Director, commented the electric was negotiated down from $26,000 to $13,000. Another bid had the cost around $11,000 that did not include the individual controllers. He expressed, with the electric, they would be close to the budget. Vice Chair McCray recommended that information be included in the future. Ms. Brooks clarified the action was to approve the artists. They would go through the procurement process for an electrician. The total project budget was $50,000. Staff tabled the item last month because the cost of the art was over $50,000 so they negotiated with the artists to reduce the price. That was why the item returned to the Board. Mr. Simon explained there were components of the project, such as brackets, installation, the lift to hang the art, and the electrician. The only advantage to approving the contracts for the artists was so they could commence work. It was up to the Board whether they wanted to defer the item to next month. Vice Chair McCray agreed staff could provide the information to him after the meeting. The electrical costs would come back to the Board. If it exceeded the budget, staff would advise where the funds would come from. Vice Chair McCray expressed he was uncomfortable moving forward with it. Motion Mr. Holzman moved to approve Items E, F, and G, Mr. Buchanan seconded the motion that passed 5 -1 (Vice Chair McCray dissenting). Mr. Buchanan thanked Ms. Coles -Dobay for bringing the Kinetic Art Symposium to the City. He commented he was already enjoying the art that was installed. X. Information Only: A. Public Comment Log There were no comments on this item. B. Commercial Familiarization Tour Information Ms. Ross inquired if most of the information for the tour was ready to go. Ms. Brooks responded the tour was in January. They had a list of commercial brokers, a Save the Date card designed, the speakers and presenters aligned, and the format. The tour route was scheduled and another planning meeting was scheduled for this week. She anticipated meeting every few weeks up until the event as there was a lot of information 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 to be presented in the half -day event. Staff sought to showcase what was new in Boynton, what was coming and good in Boynton, and why prospects should be sent to the City. Most of it would highlight incentives and how one could layer the incentives between the City, County, and State. They would also discuss development opportunities within the City and unincorporated area by Canyon and they would take a tour. Mr. Karageorge thought all parties did a great job putting the program together and they were receiving many inquiries. The tour educated brokers on all the incentives that other markets did not have. It allowed Boynton Beach to shine and the tour could yield major dividends. Ms. Brooks noted the last Familiarization Tour provided great coverage for Boynton Beach. Sweet Waters was featured on the cover of the Sun - Sentinel Weekend and the last Familiarization Tour paid off. Many individuals do not think of Boynton Beach. By the time the participants enjoyed two meals and saw what was offered, they would have a better feel for the City. C. Update on Seamist Project at Marina There were no comments on this item. D. Media Outreach and Editorial Coverage Vice Chair McCray felt the information was not self- explanatory and recommended including the year with the information. Ms. Walsh explained last month she was out and could not attend the meeting so they had to table the media coverage presentation. She combined the two months for this meeting, which was why there was a press release for Sunday in the Park from last month. Typically, the information would be presented month by month. E. E -mail from County Administrator Robert Weisman to Lynn Simmons of Splashdown Vice Chair McCray had read the email and upon his inquiry was told there was nothing else the Community Redevelopment Agency needed to do. XI. Public Comments: (Note: comments are limited to 3 minutes in duration) Lynn Simmons, Splashdown Divers, 640 E. Ocean Avenue, explained last month, the Board discussed the grant monies approved for Splashdown and the Board reduced the funding by about $15,000. She requested the Board reconsider that action. Ms. Simmons explained she moved everything she had over to the location. The unit was inspected and approved. She obtained her license and was fine. In March, she received a violation notice from the City as she had installed a compressor without a permit. She 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 explained once one pulls a permit, all of the property had to be brought to Code, which included a handicapped restroom. The restroom increased the cost of the improvements to over $30,000. When Ms. Simmons first applied for grant funding, there was a little wiggle room where the funds could be spent. Ms. Simmons intended to use the back door area of the building for the entrance to her business with fancy signage and a better entranceway. There would have been enough money, had they received the funds originally promised, to do both. With $6,000 left, Ms. Simmons commented she could not satisfy the Code's requirements Ms. Simmons contended the consequences were not only to her. Her landlord was happy to have the unit occupied as it was unoccupied for over two years. Another business that uses her services to fill air tanks would no longer be able to do so. She requested, for wisdom and justice, that the Board think about what they did and how it would affect other people. She requested the Board reconsider and reinstitute all of the grant monies the Board had made available to Splashdown Divers for the move. Chair Hay closed Public Comments. XII. Old Business: A. Update on Boynton Beach Blvd. Improvement Project Ms. Brooks explained Adam Kerr, of Kimley Horn, was present to provide an update. Staff sent information to FDOT and Mr. Kerr would apprise what has transpired since then. Adam Kerr, Kimley Horn and Associates, 5732 57th Way, West Palm Beach, explained they submitted a study to the Florida Department of Transportation regarding the impact of the beautification and the potential lane reduction. In general, the State was very supportive. They met with the department heads from the FDOT and minor technical comments were received. The comments were addressed and resubmitted to the State. The next step was reviewing a site plan to understand what the road may look like, in terms of what was permissible to the Florida Department of Transportation. Vice Chair McCray inquired if there was a time certain the Board would receive something in writing when the project would start. Mr. Kerr anticipated it would be about another two months for FDOT to respond. At that point, they would start the conceptual design which would take about six to nine months. A public meeting would then be held, when they had a plan that was acceptable to the FDOT. From there, they would go to the design phase which was construction documents. 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 1 B. Consideration of Resolution No. R12 -07 — Bond Refunding Series 2004 and Series 2005A and Authorizing the Issuance of Series 2012 in Principal Amount of $16,185,000 Motion Mr. Holzman moved to approve. Vice Chair McCray seconded the motion that unanimously passed. Susan Harris, Finance Director, thanked Jay Glover, the City and Community Redevelopment Agency's financial advisor for going to the market and obtaining a great deal. She also thanked Mark Raymond, the City and Community Redevelopment Agency bond counsel who was instrumental in moving through this process smoothly and efficiently. As a result of their efforts, a 2.56% reduction was achieved, saving $2.6 million over the life of the loan and over $200,000 a year in interest payments. Vice Chair McCray also recognized the City's Finance Director for his assistance. C. Update on the Ocean Breeze West Project Vice Chair McCray disclosed he knew Mr. Campbell, but not personally. Mike Campbell, Habitat for Humanity, 181 SE 5th Avenue, Delray Beach, explained there were 10 lots drawn down for the project, with three lots currently in construction. One lot was in permitting. Habitat for Humanity had some difficulty from March to August drawing down seven lots and those issues were resolved. They were trying to ensure there would be no additional closing costs to transfer lots from the land trust to the CDC. They incurred about $120,000 due to FPL, the cable, and irrigation systems that would be divided amongst the property owners resulting in a cost of about $5,700 to each. He explained both Mike Williams and Keturah Joseph were present to give an update on the construction of the homes. In response to an inquiry, Mr. Campbell explained if a two -story home would be constructed, it would be constructed on one of the four center lots. Keturah Joseph, Boynton Beach Faith Based Community Development Corporation, 2191 N. Seacrest Boulevard, explained it took about five months to transfer the lots from the Community Redevelopment Agency through Habitat to Humanity to the CDC. It finally took place in August and was why they had not started construction. There were about seven approved buyers. Some buyers became discouraged because the process lagged and two of the buyers purchased homes on the open market. Two others purchased existing Community Development Corporation, Neighborhood Stabilization Program homes and three homes were completely rehabbed and were just closed. The first three lots were ready for permitting and they were waiting on the 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 surveys which would be submitted by next week. Ms. Joseph hoped to start construction on the three units soon. The construction timeline was three to four months, and it was hoped they would close on the three Tots around the end of March, Ms. .Joseph explained the CDC decided not to build more than three homes at a time for various reasons, one of which was to hold the absorption rate. If someone dropped out, they would not be left with a bunch of houses. When they neared completion of the three homes, they would start on the next three. Three approved buyers were still interested in purchasing CDC units. One approved buyer just dropped out because she was working part time, but the CDC would put her into an NSP home. They had two approved buyers they hoped would hold until they were ready to start the next three units. She reported they were moving along, the builder was in place, all was ready and they were moving through the permitting process. Once the permit was received, they would start construction. Mr. Holzman thought there was a discrepancy in the number of approved buyers. Ms. Joseph explained they have a pipeline of buyers and she offered to email the members the names of the approved buyers Ms. Brooks explained ten homes had to be under construction by June and Ms. Joseph anticipated they would meet that deadline. It was noted the developers would be making quarterly reports to the Board. Mr. Karageorge encouraged individuals to help with the project. He recommended contacting Diane Barbosa of Habitat for Humanity. Habitat was building Thursdays through Saturdays and it was a great experience. Chair Hay agreed with Mr. Karageorge and issued a challenge to the Board members to participate in the project. It would be a good image builder. Mike Williams, Habitat for Humanity, South Palm Beach County, 181 SE 5th Avenue, Delray Beach, gave an update on the Ocean Breeze West project Three homes were under construction. One was in permitting. The three under construction were not complete due to issues with FPL; however, they committed to having the issue resolved by the end of October. He hoped to have dedications for at least two of the homes by the end of November. They were submitting permits for an additional five Tots so at the beginning of the year, they could prepare for the Collegiate Challenge, and blitz builds in the beginning of May. Both of those activities should expedite the completion of the project and all 11 homes should be completed by the end of June 2013. Mr. Karageorge thanked Mr. Williams for his efforts as they were above and beyond D. Reconsideration of Rent Increase for Slip Tenants Mr. Buchanan explained he requested this item be revisited. He received a letter from fishing boat owners at the Marina, a copy of which was enclosed in the meeting materials. It was his thought that the increase previously approved would be passed on 10 Meeting Minutes Community Redevelopment Agency Board Bo nton Beach, FL October 9, 2012 to customers. He requested the increase be postponed to January when they would be in season. Motion Mr. Buchanan moved to maintain the increase but not start it until January. Ms. Ross seconded the motion that unanimously passed. XIII. New Business: A. Consideration of Resolution No. 12 -06 - Budget Amendment No. 1 — FY 2012 -2013 Ms. Harris explained in September when the Community Redevelopment Agency budget was approved, the City had not yet finalized the millage rate for the new fiscal year. When they did, the millage was increased which resulted in an extra $185,000 in revenue for the Community Redevelopment Agency. In addition to that, there were some commercial facade grants that did not utilize all of the funds in the last fiscal year. The unused amount totaled $28,000. All together, there was $213,840 extra. From that amount, they needed to increase DIFA payments to developers by $28,000. Staff recommended another $100,000 be put into the economic development grant program which was funded at $185,000. For the new fiscal year, it would bring the total to $285,000, which was close to the $310,000 which was almost entirely expended during the last fiscal year. Staff also recommended $85,840 be allocated for parking / redevelopment planning in the Community Redevelopment Agency District. Mr. Holzman suggested taking the $85,000 for parking and increasing the amount for the economic development program to the original amount of $310,000. The difference was $25,000. Motion Mr. Holzman moved to approve, with the shifting of the $25,000 from parking to economic development. Mr. Karageorge seconded the motion. Ms. Ross requested Ms. Brooks' input regarding the transfer from parking to economic development. Ms. Brooks explained next year there would be additional funds from the Manna, and staff would come back with the additional $200,000 they saved. They could fund parking at that time as it would be needed. The motion unanimously passed. B. Consideration of Improvements to Veteran's Park at Ocean Avenue /4 Street 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 Motion Mr. Holzman moved to approve. Vice Chair McCray seconded the motion that unanimously passed. C. Florida Redevelopment Association Annual Conference Board Travel Ms. Brooks explained Mr. Buchanan and Chair Hay were interested in attending the conference and it was the policy of the Agency that the Board must approve the travel. She pointed out the cost for each member was approximately $982. Motion Vice Chair McCray moved to approve. Mr. Holzman seconded the motion. This year, the Conference would be held in Daytona. Mr. Karageorge had attended in the past and found it to be beneficial. He urged all to attend. Additionally, he announced this year the Community Redevelopment Agency was nominated for awards in four or five categories. The Community Redevelopment Agency was already under consideration for an award next year due to missing a deadline this year. He explained it was obvious how good staff was when one attended the Conference. The Agency had been recognized last year for best practices for various projects and he commended all of the staff. Chair Hay agreed and noted Ms. Brooks was a speaker at the Conference and would discuss redevelopment incentives on day two of the Conference. There was a vote on the motion that unanimously passed. D. Request by The Related Group to Set Aside Section 8.1.6 of The Promenade DIFA for a Certain Time Period (Back -up to follow at a later date) This item was pulled at the request of the applicant. E. Consideration of Request from HAP Grant Recipients, Teasha & Kelly Thomas, to Accept Terms of Short Sale Negotiation Mr. Simon explained this item was added at the request of the Community Redevelopment Agency Attorney and the recipient of Housing Assistance Program (HAP) funds, Teasha and Kelly Thomas, who were present with their realtor and attorney. Mr. Simon reviewed in July of 2008, the Board approved Ms. Thomas for the HAP grant and she closed on her unit. Close to $2,000,000 was spent under the program with the typical award being $50,000. 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 In December 2011, the Board set a foreclosure policy to pursue the indebtedness to the Community Redevelopment Agency subsequent to the foreclosure proceedings. This was done at least three times and the Board had not given any waivers. Recently, staff was approached by Ms. Thomas who was negotiating a short sale. In this instance, the issue was not yet a foreclosure, so no direction was given. He noted if it was the Board's desire, they could hear from the applicant. Alex Bandien, 1851 Via Granada, Boynton Beach, the listing agent was also representing the buyer, explained he marketed the property for about a month. The value had dropped dramatically. When they had the property under contract in 2009, its value was $211,000. The property was now worth $73,000 and it was under contract for $76,333. The attorney, Angelina Namia, was present who was negotiating with the first lien holder, Bank of America. The mortgage was an FHA mortgage and they were willing to waive deficiencies. They received a verbal preapproval of a payoff for $63,000 and the original loan amount was $161,000. Mr. Bandien explained the proposal was to offer the typical average for second lien holders, which was about 10% of the total mortgage to the Board. They appropriated funds through a draft pre -HUD settlement statement in the amount of about $5,000. Mr. Bandien explained the homeowner had an extreme hardship and no longer had the ability to pay for the property. Angelina Namia, Esq. 2010 Belmont Place, Boynton Beach, the attorney through Mr. Bandien's office, having the authorization and disclosure of the homeowner pointed out the mortgagee was Bank of America. Normally, there were two different banks involved and if the short sale was not approved, all parties lose. The conditional approval granted by Bank of America was conditioned upon meeting FHA Guidelines for the short sale as well as submitting paperwork. She clarified the paperwork was submitted in May through July. It was now October, and due to delays would have to be resubmitted. Although the Board has pursued deficiencies on foreclosures, she pointed out if the homeowner had nothing to come after; good money was being spent in vain. Ms. Thomas was a local teacher and she and her sister love the home, but circumstances warranted the sale. If the Board did not approve the request, the only option was foreclosure. Ms. Namia submitted documentation and explained they would be happy to address any questions the Board may have. The Board had not recaptured any funds from foreclosures involving HAP recipients. Mr. Karageorge thought this was a win -win situation as previously, recipients went into foreclosure and then came to the Board; however, he did not want to set a precedent. Attorney Cherof explained the Board had not seen any documentation from the Bank. Attorney Namia explained this would be the first month the property would be in default and the first time the homeowner could not make the mortgage payment. A demand letter was not yet received. The homeowner initiated the short sale process. Because 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 the loan was an FHA loan, there were steps to follow which they qualified for up until this point. Mr. Holzman expressed the pitch was if the Board did not approve the request, it would go into foreclosure. He noted it was only one month and foreclosures take several months. He thought it would be a mistake for this Board to rush to accept 10% of the grant and that the Board was not the Bank. The funds were taxpayer dollars and the Board must be extremely vigilant about what the Board does and does not do with the dollars. He thought it was premature for the Board to accept 10% Further discussion followed the owner was still employed and had only missed one month of mortgage payment. There was no demand letter from the Bank. Mr. Karageorge related to individuals in much worse hardship situations and noted this was not to that point and the short sale was rushed. There could be another 10 individuals from the Preserve coming forward with a similar situation and he did not want an avalanche of requests. Attorney Namia explained they expedited the matter because the client came to the realtor. Once a foreclosure starts, the Board would no longer have the opportunity to recapture any funds. The buyer was a cash buyer who could walk and they had to start the process early. Because the mortgage was a FHA loan, the buyer qualified. The owner tried a modification, getting a second job while going to graduate school, and helped her sister with a minor child, but the situation would get worse and then the opportunity would be lost. She asked the Board to consider all of the documentation submitted and any additional documents the Board requests. Mr. Buchanan noted there were three foreclosures and inquired if any funds were recaptured. Attorney Cherof offered to check and advise the Board of their status as he believed two cases were dismissed. Teasha Thomas, 1763 NE 6th Street, explained the way the City wrote the grant, she was not able to refinance unless done so at a higher rate which was cost prohibitive. She was unable to rent the unit because of the grant agreement, This was her only option. She explained it was a struggle to maintain the mortgage. Mr. Holzman acknowledged Ms. Thomas's situation and thought any decision made would set a precedent going forward. He suggested accepting 50% of the $50,000 that would close, bringing $25,000 back to the Board. This would allow her to close while safeguarding citizen dollars that were expended in her situation and others Motion Mr. Holzman moved as stated. The motion died for lack of a second. 14 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 Attorney Namia acknowledged the amount suggested by Mr. Holzman would be generous under typical circumstances, but in this instance with the value of the home, the cash buyer's offer and what the bank, who was waiving over $100,000 in deficiencies offered, it would not possible. Attorney Cherof suggested the Board table the matter and gather more facts to determine if it is a win or lose situation. Motion Mr. Holzman so moved. Vice Chair McCray seconded the motion. Mr. Karageorge indicated a short sale could still occur once the lis pendens was filed and with the tabling. Since the lis pendens had not yet been filed, there was still time. He agreed tabling the request was appropriate to allow the Board time to review the matter more closely. The motion unanimously passed. XIV. Executive Director's Report A. Project Status Update There were no comments on this item XV. Future Agenda Items There were no comments on this item. XVI. Adjournment There being no further business to discussed, the meeting was properly adjourned at 7:57 p.m. aukwiyutz_ Catherine Cherry t. Recording Secretary 101012 15 BOYNTON c R A mom' BEACH CRA BOARD MEETING OF: November 13, 2012 X Consent Agenda 1 Old Business 1 1 New Business 1 1 Public Hearing 1 Other SUBJECT: Monthly Financial Report SUMMARY: Monthly budget report to the CRA Board representing the revenues and expenses for the month ending October 31, 2012 FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS: Approve October financials. 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M I M W H In 11 H F 0 o W 0 0 0 ' er N W W H o o z .`37-,1 0 o o0 o M W N ui W U N .-1 b 0 rn I H ij m N a M II 01 o Q W 0 1 o E W 0 0 E 1 _ ,I s 0 0 0 WW o 0 E A U N I ..-1 C a N H " r �a - H ppff 1 N I .� U 14 E l ai H 0 I 0 PI 0 W x H N I 1n P7 O H 4.1. I a O 1 •• I 0 z 4 1 Si 11 { W cq o W 0 Cl o U3 4 U <r I �7 N I' g 0 cn M M 11 Mi II y 1 p H o a 1 W H q H ( � U) ca Z , co cs3 41 0 ^ yQQ '� W O 1 W z d 4 H a 0 8 H W P PI o C4 N o a' W EI w W CO M 1 1 N A 8 2 .1 0 E BOYNTON BEACH CRA BOARD MEETING OF: November 13, 2012 X Consent Agenda f 1 Old Business 1 1 New Business 1 1 Public Hearing 1 1 Other SUBJECT: Purchase Orders SUMMARY: Attached is the purchase order report for October 2012. FISCAL IMPACT: See attached CRA PLAN, PROGRAM OR PROJECT: None RECOMMENDATIONS: Approve the purchase order report. Susan Harris Finance Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meebng \FY 2012 - 2013 Board Meetings \November 20121Purchases Less Than $25,000 doc L__________ Boynton Beach CRA ---- _- -__ __ _.. _ - -_ _. Purchase Order Report Month: October 2012 Vendor _ Amount Fundin. Source _ Description City of Boynton Beach $ 21,714 General Fund 01- 51650 -210 IT ILA Services - FY 2012 -2013 --f 4 T 4 _ ___ , t f i _ _ i T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \Monthly Purchase Order Report I C O co E O C LLO a) to -0 a C 5 a) y p > � -c 'O as o i C N t C O m w L / 2 co ._ > L_ N V Y c6 N L O a)-O Om 2 .Q 6. O C 3 U > .`, Q a) O C O m 5 0 c f • 0 m o IT — - m 0 ac : - m o�j = c m c D C0 I s > m as N a c.) rn .o a) ♦^ , '2 0 E2 Ct/ I .- - o - _ o cv0 _ ( V E m ja >g'ca 0 (� aa) O O � ° c c ` v O Q. U H LL. a) '6)-c - 1 - cc m -v co co U > o -J F-- o Z W °' a. 2 2 0 0 '4 - GC c o 1 3 '' ` 2 C o V � � c o E a) N a Y Q O o o 1- N _ a) in O) _ f6 O co 5 W U a) W v O O N N N N N a-- r ,- , r N N N N N j cm O o CO N N CO � O O O T' e- e- r t, Utterback, Theresa From: Jonathan Mason [cabletow112 @gmail corn; Sent: Thursday, October 25, 2012 11 13 AM To: undisclosed - recipients Subject: Boynton Beach Haunted Pirate Fest Pirates should not be celebrated. What are we telling our children when the city of Bovnton Beach has an event that glorifies crime? Isn't our crime rate already high' Piracy is typically an act of robber ■ or criminal violence at sea. The term can include acts committed on land, in the air, or in other major bodies of water or on a shore. It does not normally include crimes committed against persons traveling on the same vessel as the perpetrator (e.g. one passenger stealing from others on the same vessel). The term has been used throughout history to refer to raids across land borders by non -state agents Piracy is the name of a specific crime under customary international law and also the name of a number of crimes under the municipal law of a number of States. Those who engage in acts of piracy are called pirates. Historically, offenders have usually been apprehended by military personnel and tried by military tribunals Tuesday, October 30, 2012 6 — 8 p.m. The Little House First, there is no signage anywhere stating this was an eating establishment (luckily I was familiar with the area). There was self- seating which was no problem since the only other 6 customers were sitting at the bar. Once seated (on stools without backs — a little uncomfortable) the waitress, Allison, came over with the menus. She was pleasant and knew the menu well. The menu was somewhat limited. Ordered the artichoke dip which was delivered promptly. It was good, with a little kick to it, and the bread was hot. Food, white bean chili and pulled pork sandwich (substituted small salad for cole slaw; other choice was tater tots!) was tasty and filling. The waitress was very attentive. The bartender heard me mention how I would have loved seeing the house before it was razed and came over with her phone to show me a picture of the original floor plan. During the meal, 5 more customers came in. No signage, cozy atmosphere, uncomfortable seating, food is simple but filling, very pleasant and attentive staff. Forwarded Message From Terry Armour <Terry @IUVmag.com> Date: Tue, 06 Nov 2012 13:07:56 -0500 To: <SimonM@bbfl.us> Conversation: Marina Village - Pavers Subject: Marina Village - Pavers Hi Michael, First of ai'i regarding your participation at last night's Marina Village Board /HOA meeting - Z Nant to thank you for your in depth and very comprehensive explanation regarding the Dive Shop and projects slated for the Harbor area a` was the person (in the first row)) inquiring about who eras responsible for the repair and maintenance to the damaged border pavers that surround the planted areas up and doS ^,^n Boyntor Bear' Blvd which encompasses Marini Village and down tc the � CCrrieniad€ CoTI,dcr'.ir!`1frn 'ffi is piost likely not CRA issue, but perhaps you can point me in the right direction ME disrepair ;4 r €rP - ibis dnsightly ft has been thas na> fc• , erg long time, at least t yea*, nci- speaks volumes to the lack of , nterest that is shown for ti-15.= area otih,.f_t: the residential foundation' to the Harbor area wvhict we are all in ! ^, `eeir'c moo: creel become ? meat commercisai success for Boynton Beach ;Aare orr ■;akir'd pictures of each area nano can tend them to you so you Knew exactly e4 hat Fin referring to), Or, [ can send therm with art email/'letter to whomever � suggest II need to contact Any assistance or input you can provide would be greatly appreciated Thank you Kind regards, Terry Armour Resident Marina Village End of Forwarded Message B Y T g NOM BEACH CRA BOARD MEETING OF: November 13, 2012 1 Consent Agenda 1 1 Old Business 1 New Business 1 Public Hearing 1 X Other SUBJECT: Media Outreach and Editorial Coverage SUMMARY: As a direct result of the CRA's public relation efforts, the Agency continuous to receive extensive editorial coverage in numerous articles. (See backup) The following media advisories, press releases and social media posts promoting CRA projects, programs and events were distributed in October to members of local, and national press: • Boynton Beach Haunted Pirate Fest • Sunday in the Park • Boynton Beach Wins Literacy Coalition "Read for the Record" Google Analytics: There has been significant increase in new visitors to CRA website! This is a direct result of our combined social media outreach efforts and online campaign launched in mid - October to promote the Pirate event: 73.83% New Visitors 5,443 Visits 26.17% Returning Visitors 1,929 Visits FISCAL IMPACT: N/a CRA PLAN, PROGRAM OR PROJECT: Marketing Department RECOMMENDATI A NS: Information only Q AL Margee lsh, Marketing Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\ Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \Media Outreach and Editorial Coverage doc MEDIA ADVISORIES & WEBSITE POSTS BOYNTON cA MOO BEACH MEDIA ADVISORY Media contacts: Margee Walsh Marketing Director (561) 737 -3256, ext. 204 FOR IMMEDIATE RELEASE Walshm @bbfl.us October 12, 2012 WHO: Boynton Beach Community Redevelopment Agency (CRA) (www.boyntonbeachcra.com) WHAT: Boynton Beach "Haunted Pirate Fest" v 110 nton +ca.lj / r�i✓TjP P T£ r£ST Insert video Zink Arrh, the pirates are coming! Downtown Boynton Beach is getting ready for a two -day pirate invasion, but its going to be all fun — and no fighting! Well, maybe some professional sword fighting, but that's part of the exciting lineup of free, "pirate themed" activities happening at the "Boynton Beach Haunted Pirate Fest," taking place just before Halloween, on Saturday, October 27 and Sunday, October 28. The Boynton Beach CRA is hosting this free event, where Captain Jack Sparrow will be on hand, with his crew of over 70 buccaneers, to entertain the crowd and pose for pictures. The non -stop fun will include continuous live music and entertainment performed at the Ocean Avenue Amphitheater and two additional stages. Other activities include: *Pirate Reenactments *Mermaid Tank *Children's Treasure Hunt *Acrobats *Live Music *Pirate Stunt Show *Street Performers *Magic and Comedy Shows For those brave mates, the Schoolhouse Children's Museum, located at 129 East Ocean Avenue, is presenting the Spooktacular Haunted House, with a $5.00 donation fee, with all proceeds benefiting the Museum. http : / /www.schoolhousemuseum.org. -con t'd- BOYNTON icRA =BEACH A delicious selection of pirate - themed fare will be available for purchase, such as turkey legs, grilled conch and conch fritters, sausage and peppers, and fried macaroni -n- cheese. If you have a sweet tooth, be sure to check out the tasty menu at the Dessert Trailer, and adults can have fun sampling Due South draft beer, provided by Boynton Beach's Due South Brewing Company, or frozen rum drinks. Adding to the festive atmosphere will be a sixty foot tent onsite to accommodate diners, with plenty of seating. So don your best pirate costume, grab your mateys and join us in downtown Boynton Beach for this free community event, open to all ages! Arrhh!!! WHEN: Saturday, October 27 and Sunday, October 28, 2012, Daily, from 10:00 a.m. — 5:00 p.m WHERE: East Ocean Avenue, between Seacrest Blvd. and N.E. 1 Street, Boynton Beach : http: // maps .google.com /maps ?h1= en&tab =11 For more event information, logon to boyntonbeachpiratefest.com, or call Kathy Biscuiti, 561 - 742 -6246, ext. 212. Visit the CRA at www b .com /newsevents.php, or follow us on 11 or D. ; OYNTO =BEACH . LRA MEDIA ADVISORY Media contact: Margee Walsh Marketing Director (561) 737 -3256, ext. 204 FOR IMMEDIATE RELEASE Walshm @bbfl.us October 31, 2012 WHO: Boynton Beach CRA (www.boyntonbeachcra.com) WHAT: Sunday in the Park Concert Series Sunda: d/1 V '�,' pa`s k Plan your Sunday afternoon around a free event that includes live, classic rock by local musician Paul Bee, who will be performing outdoors, in a beautiful park setting. This new concert series is held the first Sunday of every month — except December- and is a great opportunity to visit one of downtown Boynton Beach's popular dining spots for brunch, or stroll the docks of the Boynton Harbor Marina, before or after the show! Remember to bring your folding chairs or blankets so you can kick back and listen to some great tunes, under the shady trees! WHEN: Sunday, November 4, 2012, from 12:00 p.m. — 3:00 p.m. Future dates: *January 6 `April 7 *February 3 *May 5 *March 3 WHERE: Veteran's Park: http: / /goo.gl /maps /JGTJe Northeast corner of East Ocean Avenue and NE 4th Street Boynton Beach, FL (Located across the street from The Little House restaurant) This is a free community event, open to all ages. Call 561-742-6246, visit www. boyntonbeachcra .com /newsevents.php, or follow us on ti or I- i ### Classic Rock to be featured in Boynton Beach http: / /www.palmbeachpost.com/ news / entertainment /musiciacoustic- blues- to -be- featured- in- boynton /nSgxP/ By Eliot Kleinberq, Palm Beach Post Staff Writer , Oct. 30, 2012 unda a BOYNTON BEACH — The next installment of this year's "Sunday in the Park" concert series is set for noon to 3 p.m. Sunday at Veterans Park, at 100 N.E. 4 St., at the corner of East Ocean Avenue. Local musician Paul Bee will perform classic rock. The free live music events are held the first Sunday of each month except December. Bring folding chairs or blankets. Future dates: Jan. 6, Feb. 3, March 3, April 7, and May 5. Call the Boynton Beach Community Redevelopment Agency at (561) 742 -6246, or visit www.boyntonbeachcra.com. CRA website post: October 24, 2012 Boynton Beach Wins Literacy Coalition "Read for the Record" As part of a Literacy Coalition program titled 2012 Mayors' Literacy Initiative the City participated in the "Read for the Record" contest. The contest goals were for adults to read the children's book "Ladybug Girl and the Bug Squad" to as many children throughout the nation as possible in one day. Boynton Beach elected officials and staff (including CRA staff) read to 1769 students on October 4, 2012. The City won the award for the Large Cities category for reaching the most students. This contest was sponsored by the Literacy Coalition of Palm Beach County. The award, a large basket of books, were donated to the City Library children's book collection. ' 1 7 • § Lire City Manager Lori LaVerriere, Mayor Woodrow Hay, Farrah Persaud, CRA Development Director Mike Simon EDITORIAL COVERAGE Pirate Fest' planned in Boynton Beach http: / /www. palmbeachpost.com/ news / news /local/ pirate -fest- planned -in- boynton- beach /nSZ9j/ By Eliot Kleinberq, Palm Beach Post, Oct. 14, 2012 BOYNTON BEACH — As many as 70 "pirates" are expected to infest the city's first -ever "Haunted Pirate Fest," set for 10 a.m. to 5 p.m. Saturday and Sunday, Oct. 27 -Oct. 28, along East Ocean Avenue, between Seacrest Boulevard and Northeast First Street. People are encouraged to attend in costume. The city hosted a "Pirates of the Intracoastal" event in 2006 and has been trying to bring back a similar event since, special events coordinator Kathy Biscuiti said. This year's two -day free event features continuous pirate stunts and sword fights, children's activities, live music, and food vendors. The nearby Schoolhouse Children's Museum will host a haunted house; admission is $5. Call the Boynton Beach Community Redevelopment Agency at (561)- 737 -3256, Ext. 212, or visit www.boyntonbeachcra.com. j hr. 8 '- gil .. ,' °4 • T * t , ,' 0 J 1 Q O !.V k l an O Q C 40 C 5 E c., x ae al Q Z D"p go ♦ .V O Q l. H 11) CC Z _, o E o cm ze p CA >- U TIMM' U c LJJ w ' c R Z ,. �. C - r ..r, .C) P z O O :E O ,'•t a 3 Z rr aa. = • cin a ° � � = .o : Ex c ' 5 4 , , O 0 ca,o ° 4 ". 4 ., .2 gib � o cU en 0 j C b0 ° +,, .� s• 'C C �1/ N 0 ai c 0 a ago v°) `° d °° a, � ,z #4 d Z O �=��C a , ab ° a3 C. — o 011111.1111 N. f,� 2 oo � o 5 y o ct t:11 rt w.. I 44 > C �, c c o bi) 0 5 U ox 1:1 2 1 yi cc Ike , te r, o0.r ti oU • . 41 O • z S 0 . . 4., . . ' ccu a. v, ca a.0 m ( :4 • 5 iv D m csC. C w�a Va) 0p0s y A p p 4 .)— x" u� C p U› C V o U b0 . 0 eV W4 Q ›' C ca y G 7.-:, w � : : C rn a v 0 •0 1 E) v y 'A 1� ai o M Ul get c� o U O b �b o �, c.°):> cc aw � N a, y ° I--. w U U C^ V 0 + , C s L 1:' o b0 0 b �. .. 00 � m o o c �a,ct a , C v,ca>, ip ld 41 lei — a,c��caca4, �. a�vca� d a i A a' . SO n P O \ / f LU o a - w Q UO - °• ■ THE WEEK IN PICTURES ._ , ,, , ..,_ . __ ..... ,....-, :,--..-„, 4 ,4„ , , . . , ..,_ 46 m •l y . ' i f, :. 1 „4 , t „ 3 a L of U I O \� a 1'� �' t, o A 0 U N e Afffialli PIRATE HAVEN Top left: Captain Bob, left, r c s ' "*'a along the main drag at the Pirate Festival i (lc Hanafourde, of Miami, enjoys the festival. 1 whips (literally!) open a can of soda. STAFF F r_ 44 IIIIIIIIIIIIIIIIIIIEITBMI S J co .a 1.5 r - -- 1 X11' r Scheel news , .• - .;,,,-. i. , , q. „......a. , 9 s I .,. „,,,, :l • i to ^ ,4 Boynton Beach Mayor Woodrow Hay reads "Ladybug Girl and the Bug Squad "by David Soman and Jacky Davis to a group of students at Poinciana Elementary. He was one of several city representatives who visited the school recently to celebrate literacy. OLYMPIC HEIGHTS 1 best music, visual effects, ; urday, and 2 p.m. Sun - HIGH , general effects and per- � day in the school's Count - cussion. The band was 1 ess de Hoernle Theatre, The Mighty Lions crowned best band in its 1 5100 Jog Road, Boca Ra- Marching Band, under division. I ton. Ticket prices are $10 the direction of Jackie and are available at www. Parsons, swept the Ru- POINCIANA spanishrivertheatre.org by Division at the recent ELEMENTARY Vero Beach Crown Jew- BRIEFLY el Band Competition. The Safety patrols are band was given a superi hosting their annual pan ! The fifth annual Engi- or rating in auxiliary, per - cake breakfast and craft neering Family Fun Day cussion and drum major fair from 8 a.m. to noon will be held 10 a.m. to 2 in the preliminary round on Nov. 10. Activities in- p.m. Saturday in Dreher of competition. In the clude kids' crafts, bounce Park, Pavilion 3, in West same round, the band al- houses and a silent auc- Palm Beach. Students so won best in its size di- tion. Admission is free. vision for music, visual effects, general effects, percussion and drum ma- and their families, teach I Tickets for the pancake ers and counselors can brea are $5 and a re enjoy a fun filled, educa avail at the door. tional event focusing on jor, and best overall band in that category. Senior Brianna Silva was award- ed best drum major over- opportunities available SPA RIVER in engineering. The goal HIG is to inspire an interest in the areas of math and all. After advancing to Th Theatre Arts science in students in the finals, the band per- and Drama Depart grades four through 12. formed for a second time ment will present the -- and won additional fi comedy "Jabberwock" soneill @pbpost.com nals -level trophies fdr at 7 p.m. Friday and Sat- Boynton to convert Veterans Park into urban pocket By Eliot Kleinberq, Palm Beach Post, Oct. 18, 2012 BOYNTON BEACH — It's called an "urban pocket park " Such oases of green, dotting big cities such as New York, are popular magnets for folks to gather for chess, checkers, conversation and fellowship Why not one in Boynton Beach? The city's Community Redevelopment Agency has one in mind: tiny Veterans Park, a half -acre tract featuring two towering banyans that sits at the northeast corner of Ocean Avenue and Northeast Fourth Street, next to the historic strip of real estate that includes the insurance office of the late pioneer Harvey Oyer, Jr., as well as the popular eatery Hurricane Alley. At its Oct 9 meeting, the CRA board unanimously approved the $8,600 to install three game tables, with stools, in the park. Patrons would bring their own game pieces The tables should be in place in about 10 weeks They're made of concrete, are durable and graffiti resistant. Veterans Park is "a perfect example of an urban pocket park with its mature trees providing shade and green space amongst an urban setting," CRA executive director Vivian Brooks wrote the CRA board, comprised of commissioners plus two outside appointees. "Anything that will improve the functionality and the cosmetics of an area is going to be a benefit in the long run," city Recreation and Parks director Wally Majors said "It will bring people there to relax and contemplate and use it as it was meant to be " Chrissy Benoit, who took over the historic Ruth Jones cottage, moved to a site catty- corner from the little park, and opened it in July as the Little House cafe. "It's great," she said of the "pocket park" idea "I'm a fan of spaces for people to gather and hang out " But, she said, "there's people hanging out and then there's squatting and loitering It's a fine line " Benoit said so far she's had no trouble with loiterers, "I'd like to think that if they put that park together people will come and enjoy it and it will be a community thing " Such parks also are known as mini -parks and vest - pocket parks. Nearby Lake Worth boasts several pocket parks, including one along Federal Highway, one at the west end of the Lake Worth Bridge, and once called Lend A Hand Park, on the corner of A Street and Third Avenue North, that features a children playscape. The Boynton Beach CRA will be installing art lighting in the Veterans Park trees in November, which will have the added bonus of improving safety in the area. Chess and checkers also are popular at a vacant lot the CRA owns in a two- to three -block stretch of Martin Luther King Jr. Boulevard east of Seacrest Boulevard, in the Heart of Boynton area, which residents, social groups and the city are trying to revitalize. But the agency says people loiter there, and it suspects drug deals and prostitution take place there as well In August, it bought a surveillance camera for the area The tiny Veterans Park tract, acquired in the 1960s through a foreclosure, was upgraded with diagonal sidewalks during the mid -1990s It sports a picnic bench and a sitting bench. In 2011, commissioners asked parks and recreation to look into options for the parcel, including possibly selling it, but decided against that. Instead, the CRA determined its best use continued to be as green space The staff report did suggest the city and the CRA cooperate to "pump new life" into the park. The little park, meanwhile, has its own identity crisis of sorts Not far away is another park with a similar name: in late 2011, Veterans Bicentennial Park, on Federal Highway, was renamed Veterans Memorial Park. The city commission then considered but shelved a plan to rename little Veterans Park for pioneer couple Fred S Dewey and his wife, Byrd Spilman Dewey, who bought the 40 acres that constitute the city's original plat http / /cbs12 com/ news /top - stories /stories /vid_2565 shtm! Seabourn Cove: A "green" way of living makes big splash in PBC Karl Man / CBS12 News, Oct 2012 PALM BEACH COUNTY, Fla -- If you are interested in saving money while helping the environment then you may want to move That's because a new apartment complex just opened up in Palm Beach County which is being billed the "greenest" in the country Gina Vanacore just moved in to her new apartment at Seabourn Cove in Boynton Beach 2 days ago. What attracted her to this sprawling development on Federal Highway is the designation as the "greenest" condo complex in the country Seabourn Cove features an electric car charging station in every apartment. a sophisticated storm - water - retention system that treats the water and returns it into the ground cleaner Every light bulb in the place is the latest CFL type which can burn thousands of hours longer Developers says energy efficient appliances and tinted windows add up to big savings GOGGLE ANALYTIC S REPORT http Hwy.'s.' boyntonbeachcra com - I www.boyntonbeachcra com r Language 1)c; 5 2012 Nov 4 2012 41 49 change in '2 Of visits Explorer Site Usage Oct 5, 2012 - Nov 4, 2012: Visits Sep 4, 2012 - Oct 4, 2012 Visits 801 4 00 * * * 4 ' 4 Oct 8 Oct '5 Oct 22 ' - \ Visits Pages i Visit Avg Visit Dura800 : "t, Nevt 4h515 , .. '26.02 -24.10% -33.07% 5 088 vs 2 25 0 , , 2 81 Language Visas Pages / Visit Avg. Visa Duration '0, New Visits Bounce Rate 1 , Oct 5, 2012 - Nov 4 2012 4,650 i 21 00 01 50 '6 35 o4 225, Sep 4, 2012 - Oct 4 2012 2 12 2 88 00 02 38 68 8450 48 47" % Change , , 2.2 10405 45 2 Oct 5, 2012 - Nov 4 2012 346 i 68 00 01 4 - '. 23 55615 Sep 4, 2012 - Oct 4 2012 96 r 4 5 00 04 2i "4 2°'2 5895" % Change 84 , 5'1 00 3 Oct 5, 2012 - Nov 4 2012 20 i 35 00 00 1, 8.5 00% - 5 00 Sep 4, 2012 - Oct 4, 2012 ti 1 20 00 00 32 00 00" 8000" % Change 09 4 Oct 5, 2012 - Nov 4, 2012 13 i 00 00 00 00 '00 005, 100 004 Sep 4, 2012 - Oct 4 2012 2 '3 00 00 00 00 005 , _ 00 % Change '100', 5 Oct 5, 2012 - Nov 4 2012 12 ' 00 10 03 0' i 00 00°/, 60 00", Sep 4, 2012 - Oct 4, 2012 4 50 00 01 04 ' 005 "5 00' % Change 6 4 ' 22 00 00 0 '00 00°/- % Change euo 0(P/ 22 22'`• 0.00% - 22 22 % 7 en - gb OCt 5, 2012 - Nov 4, 2012 7 1 57 00 00 22 100 00% 57 14% Sep 4, 2012 - Oct 4, 2012 7 2 86 00 02 53 85 71% 57 14% % Change 0.00% .45.00% -87 53% 16 67% 0.00% 8 es Oct 5, 2012 - Nov 4, 2012 4 1 25 00 0013 75 00% 7500% Sep 4, 2012 - Oct 4, 2012 1 17 00 00 16 30 100 00% 0 00% % Change 300 00% - 92.65% - 98.69% -25.00% ,0% 9. es - es Oct 5, 2012 - Nov 4, 2012 4 1 25 00 00 49 100 00% 75 00% Sep 4, 2012 - Oct 4, 2012 2 1.00 00 00 00 100 00% 100 00% % Change 100 00' 25 00% 0.00% - 25 00% 10 fr - fr Oct 5, 2012 - Nov 4, 2012 4 2 75 00 01 22 0 00% 50 00% Sep 4, 2012 - Oct 4, 2012 5 1 20 00 00 37 20 00% 80 00% % Change - 20.00% 129 17% 124 73% - 100.00% - 37 50% Rows 1 - 10 of 30 © 2012 Google SOCIAL MEDIA REPORTS Media Outreach Facebook, Twitter and Media Advisory Updates 'Date I Media Tool Weekly Posts /Distribution I 10/9 - 11/04/12 Facebook 28 Twitter 5 Media Advisories and Releases 1 TOO 34 TIMARKETING\Social MedialWeekly Reports\Weekly Report 10 3 toll 4.xls FAC E BOOK POSTS 10/9 — 11/04/12 Boynton Beach CRA New like's- dItctrict About 11 t+\'eteklt titd, 6 84 1 96.58 Total Posts: 28 394 1.55GA o Friends of Fans Frenn O Of eon+ 'Aih( 4.'P tr+enr+ neorie like() tiout bdC 185,898 3,45°A • 0 People Talking About This rLateC, 1/() +)a 51c) 'dgt tt ;° .ty ut` ittj - but your 'daoe tact ,,'+ t)+ rtttlec+tt- y++1 4 1 44,4: o 0 A VI* Weekly Total Reach Week oto u , t),ften, dssut., +( I rd0 nC1' ;)'■ 1 722 , M rn- 4,4* CRA TWITTER PAGE 10/09 — 11/04/12 "Tweets 5 30 Oct Boynton Beach CRA (a BoyntonBeachCRA Thank you for coming see you at the next CRA event http://icont.ac/IIQLb 26 Oct Boynton Beach CRA 4BoyntonBeachCRA Washing Sandy Out n' Bringing th' Pirates in! http: / /icont.ac /l lsgk 24 Oct Boynton Beach CRA ( BoyntonBeachCRA Rain or Shine! http: / /icont.ac /118VF 7:15 AM - 24 Oct 12 • Details 10 Oct Boynton Beach CRA { BoyntonBeachCRA Oktoberfest in Boynton: Super suds from an accidental brewer http: / /shar.es /5KIAi via ( sharethis 4 Oct Boynton Beach CRA fwBoyntonBeachCRA CRA and City participate in "Read for the Record" Literacy Program http://www.boyntonbeachera.com/?p=4190 Boynton Beach ('P " t,r r fn peope paces , r( tni q `v Boyri 4 wale Paco Overview A bow �� -.^ MI dates and tunes are in Part's i^ Export Data Total Likes 1 rends o' I as People Taikm, Abos. - 4`JeeK . ota keo is 394 1.55"/c 185,898 3.45 " /c 84 ba" c 1,722 96 58 the aecRA serves Or ommunity by guiding edevelopment activrtie that create a vlbarir r �c People Talking Aborr This MI isees, , r r. I romote Votrr Page Page Posts !Updated d T f= All Post Types Date Post Reach Engaged Users Talking About virahty This H2" «. yr Boynton Beach CRA Page 2 of 2 10 /6Oitbontiii00116101111101fich thingd76 10 4 2 27% ® Boynton Beach CRA Home 10/17/12 Seabourn Cove in downtown Boynton Be 88 6 3 3 41% Create Page 10/17/ 12 Seabourn Cove in downtown Boynton Be 50 2 1 2% 10/17/12 Seabourn Cove in downtown Boynton Be 50 2 - -- 10/16/12 Galaxy Elementary 89 6 1 1 12% 1D/16/12 Only ten more clays until the Boynton Be 127 38 12 9 45% 10/16/12 Ord you know Boynton Beach has its own 149 54 28 18 79% 10/15/12 LIKE NEW Consignment Boutique, 1120 105 10 4 3 81% 10/11/12 Fifteen more days until the mvason nu 95 14 8 8 42% 10/11/12 Do you own a business in downtown Boy 90 1 -- 10/11/12 Buy your tickets now for the Breezm' Tnr 99 6 2 2 0290 10/10/12 http / /www pbpulse com /news /entertain 107 8 2 1 87% 10/9/12 Boynton Beach City Commission changes 94 3 -- 10/9/ 12 Boynton Beach City Commission changes 59 1 - -- Older Posts Facebook © 2012 English (US) About Create an Ao Create a Page Developers Careers Privacy Cookies Terms Help BOYNTON c ornisBEACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda Old Business New Business ' Legal Executive Director's Report SUBJECT: Information Only: Update on Budget for Ocean Avenue Specimen Tree Art & Lighting Project. SUMMARY: The CRA Board approved the Ocean Avenue Tree Art project in FY 11/12. The Arts Commission selected three artists to install art within major trees along Ocean Avenue and the CRA Board approved the Artists' Agreements at their October 9, 2012 meeting. Attached is a budget spreadsheet reflecting the costs associated with completion of the project by the end of January 2013. As indicated within the spreadsheet, the project budget is $48,000 and the total project costs total $46,795.00, which is $1,241.00 under the existing budget. FISCAL IMPACT: $48,000 budgeted in Project Fund 02- 58200 -406. CRA PLAN, PROGRAM OR PROJECT: Downtown Vision and Master Plan RECOMMENDATIONS /OPTIONS: N/A Michael Simon Development Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \Specimen Tree Art - Budget Update Info Only.doc 0 0 0 0 0 0 0 0 0 0 0 d' 0 N O 'I: b- 0 N .--i 45 d, .-a O 64 ff3 3 404 O a 0 ° a) v p, a) a) 0 0 '64 Vi z ,, �,o ° � �6, N ¢ w 0 N S"y N G "2. c O O 0 O � U ca - � , w pp p 0 U "' g • s" bA v) O ,� cn O ,w.-, a) c � 0 —1 U 4- y '° ti P. O s r, . 0 U U O 6 r " U '> . '� b4 WO U N -i.- bA Q ) U O ' Q ` O o • 7 c 0 ca 64 W > O an O + TS O �, cn at 0 in cn O cd d a) , +� cd a) W v) cf CID u) • v) H a) °t v) ) a) U a) U a t U Q d d d al U > U in cn U TA 0 U P.. O U 5 as a) U as c d a) O a Q 0 0 -.. U a) a) a) o Q w H a Q Utterback, Theresa 'rom: Utterback, Theresa Sent: Tuesday, October 09, 2012 11:33 AM To: Brooks, Vivian Cc: DeGraffenreidt, Mary; Shea, Virginia Subject: RE: MLK Committee - Heritage Park Hi: Here's an update on the plaque in Heritage Park - Harry Meeks (561)547 -4047 is the President of the Martin Luther King Jr. Committee. They do a plaque every other year for an outstanding citizen. It is open to all. If there is someone you would like to nominate, please call Mr. Meeks. There will be a dedication made this year and he will send out information as soon as it becomes available. Thank you, Theresa Utterback Administrative Services Manager Boynton Beach CRA 710 North Federal Highway Boynton Beach, FL 33435 P: 561 - 737 -3256 ext. 216 F: 561- 737 -3258 utterbackt @bbfl.us Scan this QR Barcode with your phone and learn more about all the grants available through the CRA Get FREE barcode scanning software at: www.i - nigma.mobi Original Message From: Brooks, Vivian Sent: Monday, October 08, 2012 4:35 PM To: Utterback, Theresa Subject: RE: MLK Committee - Heritage Park Great thanks. Vivian L. Brooks Executive Director Boynton Beach CRA 710 N. Federal Highway Boynton Beach, FL 33435 561 - 737 -3256 Ext. 211 brooksvi @bbf1.us Web site - www.boyntonbeachcra.com Catch a wave, Catch a fish, Catch your breath, Breeze into Boynton Beach, America's Gateway to the Gulfstream. 1 - - - -- Original Message From: Utterback, Theresa Sent: Monday, Octobei 08, 2012 t 2', P4 To: DeGraffenreidt, Mary Cc: Brooks, Vivian, Shea, Virginia Subject: RE- MLK Committee - Heritage Park Hi Mary: Thank you. I spoke to Dr Light and she referred me to Willie or Libby Stroud. I will keep trying to reach them Thanks for your help. Theresa Utterback Administrative Services Manager Boynton Beach CRA 710 North Federal Highway Boynton Beach, FL 33435 P: 561 - 737 -3256 ext 216 F: 561- 737 -3258 utterbackt @bbfl.us Scan this QR Barcode with your phone and learn more about ate the grants availabie tnrougt the CRA Get FREE barcode scanning software at www i nigma. mob. Original Message From: DeGraffenreidt, Mary Sent: Monday, October 08, 2012 4:03 PM To: Utterback, Theresa Cc: Shea, Virginia Subject: FW: MLK Committee - Heritage Park Good afternoon, To the best of my Knowledge the Heritage Committee Members are; Victor Norfus, Martha Meeks Light, and Willie Aikens Since the death of Mrs Sullivan, Willie Aikens _ thr- president of the committee. Mary DeGraffenreidt, Sr Recreation Manages City of Boynton Beach 561 742 -6642 Good, Better, Best Never let it rest Unti your -ood ,a Bettei and your Better. Best Original Message- - From: Shea, Virginia Sent: Monday, October 08, 2012 3.42 PM To: Utterback, Theresa Cc: DeGraffenreidt, Mary Subject: Re: MLK Committee - Heritage Park Teresa, Mary might know I am forwarding to nei I am attending training bet , f oB e:no will return Thursday If Mary cat help, I'l'_ see 1 ran later this .aeeY Sent from my iPad On Oct 8, 2012, at 3 34 PM, "Utterback, Theresa" tiUtterbackT @bbfl us •rote > Hi: > > > Would you by chance know who made up this committee? > > > I've tried to reach Willie Aikens with no luck. > > > > Trying to follow up for the CRA Board for the Citizen of Year Award. > > > > Thank you, > > > > Theresa Utterback > > Administrative Services Manager > > Boynton Beach CRA > > 710 North Federal Highway > > Boynton Beach, FL 33435 > > P: 561 - 737 -3256 ext. 216 > > F: 561 -737 -3258 > utterbackt @bbfl.us > > Scan this QR Barcode with your phone and learn more about all the grants available through the CRA > > Get FREE barcode scanning software at: www.i - nigma.mobi > < http:// www. twitter.com / #! /boyntonbeachcra> <http: / /www.facebook.com /? ref = home #1/pages /Boynton- Beach- CRA/123938034365> > > <9.11.12 Agenda -Info Only- Heritage Park Citizen Award.pdf> > <image001.emz> > <image003.gif> > <oledata.mso> 3 BOYNTON ' c RA BEACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda I I Old Business I New Business I I Legal I 1 Executive Director's Report SUBJECT: Update on 3 CDC Contracts for Ocean Breeze West SUMMARY: At the October 9, 2012, CRA Board meeting the Board requested copies of the contracts of the homes sold by the CDC on the Ocean Breeze West project. Attached are the three contracts the CDC currently has in place. The CDC is in for permitting with the City for all three houses. FISCAL IMPACT: N/A CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS /OPTIONS: N/A Vivian L. Brooks Executive Director T.\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \CDC Contracts OBW doc "AS IS" Residential Contract For Sale And Purchase fin, Florida THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR v r PARTIES: BOYNTON BEACH FAITH BASED COMMUNITY DEVELOPMENT CORP. ( "Seller"), r and KATRESS THADDIES ("Buyer") 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively "Property") pursuant to the terms and conditions of this AS IS Residential Contract For Sale s And Purchase and any riders and addenda ( "Contract ") 6 1. PROPERTY DESCRIPTION: 7" (a) Street address, city, zip: XXX OCEAN BREEZE CIR, BOYNTON BEACH, FL 33435 8• (b) Property is located in: PALM BEACH County, Florida. Real Property Tax ID No: 08434521380000040 s• (c) Legal description of the Real Property: LOT 4 OF OCEAN BREEZE WEST, according to the plat thereof, as 10 - recorded in Plat Book 114, Pages 23 -24 of the Public records of Palm Beach County, Florida 11 together with all existing improvements and fixtures, including built -in appliances, built -in fumishings and 12 attached wall -to -wall carpeting and flooring ( "Real Property ") unless specifically excluded below. 13 (d) Personal Property: The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are included in the purchase ( "Personal Property"): (1) range(s) /oven(s), dishwasher(s), 15 disposal, ceiling fan(s), intercom, Tight fixtures, rods, draperies and other window treatments, garage door 16 openers, and security gate and other access devices, and (ii) those additional items checked below if 17' additional details are necessary, specify below If left blank, the item below is not included: M Refrigerator(s) Smoke detector(s) 0 Pool barrier /fence ❑ Storage shed Microwave oven ® Security system Pool equipment Ed antenna/satellite dish © Washer Window /wall a/c Pool heater Water softener /purifier © Dryer ❑ Generator Spa or hot tub with heater p Storm shutters and 0 Stand -alone ice maker 0 Above ground pool panels 18 The only other items of Personal Property included m this purchase, and any additional details regarding 19' Personal Property, if necessary, are' NONE ___.. - .__�_ 20' 21 Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer 22' (e) The following items are excluded from the purchase. _ ___ .. __��.. 23 ' _ . __ _- __- _ ______ 24- 2. PURCHASE PRICE (U.S. currency):.....—.. . ....... 140,000.00 25' (a) initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ 26 The initial deposit made payable and delivered to "Escrow Agent" named below 27' (CHECK ONE):® accompanies offer or ❑ is to be made upon acceptance (Effective Date) 28' or ❑ is to be made within (if blank, then 3) days after Effective Date 29• Escrow Agent Information: Name: LEWIS LONGMAN & WALKER, P.A. 30 Address 515 N Flagler Dr, Ste. 1500, WPB, FL 33401 Phone (561)640 -0820 31" E -mail: Fax. (561)640 -0802 32' (b) Additional deposit to be delivered to Escrow Agent within 60 (if blank, then 3) 33' days after Effective Date... .. .. .. . $ 3,900.00 34 (All deposits paid or agreed to be paid, are collectively referred to as the "Deposit ") 35' (c) Financing: Express as a dollar amount or percentage ( "Loan Amount ") see Paragraph 8 36• (d) Other: $_ 37 (e) Balance to close (not including Buyer's closing costs, prepaids and prorations) by wire 38' transfer or other COLLECTED funds, $ _ 135,100.00 39 NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARD S. 40 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER -OFFERS; EFFECTIVE DATE: 41' (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 9/13/2012 42* , this offer shall be deemed withdrawn and the Deposit, if any, will be returned to Buyer 43 Unless otherwise stated, time for acceptance of any counter -offers shall be within 2 days after the day the 44 counter -offer is delivered. 4s (b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 46 initialed this offer or final counter -offer ( "Effective Date "). 47 4. CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this transaction shall occur 48 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49• ("Closing') oon�, Or Before 1/30/2013 ( "Closing Date "), at the time established by the Closing Agent Buyer's Initials 1L� Page 1 of 10 Seller's Initials et, _ ------ _ FloridaRealtors /FloridaBar-- ASIS - - 1 Rev 6/10® 2010 Florida Realtors® and The Flonda Bar All rights reserved so 5. EXTENSION OF CLOSING DATE: 51 (a) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In Lending Act (TILA) 52 notice requirements, Closing shall be extended for such period necessary to satisfy TILA notice requirements, 53 not to exceed 7 days. 54 (b) If extreme weather or other condition or event constituting "Force Majeure' (see STANDARD G) causes: 55 (i) disruption of utilities or other services essential for Closing, or (ii) Hazard, Wind, Flood or Homeowners' 56 insurance, to become unavailable prior to Closing, Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard, Wind, s8 Flood or Homeowners' Insurance. If restoration of such utilities or services and availability of insurance has not 59' occurred within (if left blank, 14) days after Closing Date, then either party may terminate this 60 Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seiler from all further obligations under this Contract. e2 6. OCCUPANCY AND POSSESSION: Unless otherwise stated herein, Seller shall at Closing, have removed all 63 personal Items and trash from the Property and shall deliver occupancy and possession, along with all keys, 64 garage door openers, access devices and codes, as applicable, to Buyer. If Property is intended to be rented or 65 occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant 6s to STANDARD D. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from 67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy. 69' 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from an further liability 7o• under this Contract; ❑ may assign but not be released from Liability under this Contract; or El IM may not assign 71 this Contract. 72 FINANCING 73 8. FINANCING: 74' ❑ (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing 75 contingency to Buyer's obligation to close. 76' ❑ (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a IN conventional ® FHA 77* ❑ VA loan on the following terms within 60 (t blank, then 30 days after Effective Date ( "Loan 78' Commitment Date ") for: (CHECK ONE): foxed, adjustable, LJ fixed or adjustable rate loan in 79' the principal amount of $ 115.000.00 or % of the Purchase Price, at an initial interest rate 80' not to exceed % (if blank, then prevailing rate based upon Buyer's creditworthiness), and for a 81' term of years ( "Financing "). 82' Buyer will make mortgage loan application for the Financing within 30 (if blank, then 5) days after 83 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing 84 ( "Loan Commitment ") and close this Contract. Buyer shall keep Seller and Broker fully informed about 85 the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and 86 Buyer's lender to disclose such status and progress to Seller and Broker. 87 If Buyer does not receive Loan Commitment, then Buyer may terminate this Contract by delivering written 88 notice to Seller, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all 89 further obligations under this Contract. 90 If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of 91 this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations under this Contract. 94 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not 95 thereafter close, the Deposit shall be. paid to Seller unless failure to close is due to: (1) Seller's default; 96 (2) Property related conditions of the Loan Commitment have not been met (except when such conditions 97 are waived by other provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is 98 insufficient to meet terms of the Loan Commitment; or (4) the loan is not funded due to financial failure of 99 Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seller 100 from all further obligations under this Contract. 101" ❑ (c) Assumption of existing mortgage (see rider for terms) ,or ❑ (d) Purchase money note and mortgage to Seller (see riders; addenda; or special clauses for terms). Buyer's Initials Page 2 of 10 Seller's Initials e n FloridaRealtors/FloridaBar- ASIS -1 Rev. 6/1002010 Florida Realtorse and The Florida Bar. All rights reserved. 103 CLOSING COSTS, FEES AND CHARGES 104 9. CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 105• (a) COSTS TO BE PAID BY SELLER: • Documentary stamp taxes and surtax on deed, if any • HOA/Condominium Association estoppel fees • Owner's Policy and Charges Of Paragraph 9(c)(1) is checked) • Recording and other fees needed to cure title • Title search charges (if Paragraph 9(c)(iii) is checked) • Seller's attorneys' fees • Other: 106 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 1 107 a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 108 Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs. Any unused portion of escrowed amount shall be retumed to Seller iio• (b) COSTS TO BE PAID BY BUYER: • Taxes and recording fees on notes and mortgages ° Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) • Buyer's inspections • Survey (and elevation certification, if required) • Buyer's attorneys' fees • Lender's title policy and endorsements • .All property related insurance • HOA/Condominium Association application/transfer fees • Other: 11i• (c) TITLE EVIDENCE AND INSURANCE: At least (if blank, then 5) days prior to Closing Date, a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ( "Title Commitment") and, after Closing, an owner's policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title 115 insurance covering the Real Property, a copy shall be furnished to Buyer and Closing Agent within 5 days after 116 Effective Date, The owner's title policy premium and charges for owner's policy endorsements, title search, 117 and closing services (collectively, "Owner's Policy and Charges ") shall be paid, as set forth below 118 (CHECK ONE): 119• ® (1) Seller will designate Closing Agent and pay for Owner's Policy and Charges (but not including charges 120 for closing services related to Buyer's lender's policy and endorsements and loan dosing, which amounts 121 shall be paid by Buyer to Closing Agent or such other provider(s) as Buyer may select); or 122' ❑ (ii) Buyer will designate Closing Agent and pay for Owner's Policy and Charges and charges for closing 123 services related to Buyer's lender's policy, endorsements, and loan closing; or 124• ❑ (iii) (MIAMI - DADE/BROWARD REGIONAL PROVISION): Seller will fumish a copy of a prior owner's policy 125 of title insurance or other evidence of title and pay fees for. (A) a continuation or update of such title evidence 126 which is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; and 127 (C) municipal lien search. Buyer shall obtain and pay for post - Closing continuation and premium for Buyer's 128 owner's policy, and if applicable, Buyer's lender's policy. Seller shall not be obligated to pay more than 129• $ (if blank, $200.00) for abstract continuation or title search ordered or performed by Closing 130 Agent. 131 (d) SURVEY: At least 5 days prior to Closing, Buyer may, at Buyer's expense, have the Real Property surveyed 132 and certified by a registered Florida surveyor ( "Survey ") If Seller has a survey covering the Real Property 133 copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. 134• (e) HOME WARRANTY: At Closing, ❑ Buyer ❑ Seller © N/A will pay for a home warranty plan issued by 135' at a cost not to exceed $ A home 136 warranty plan provides for repair or replacement of many of a home's mechanical systems and major built -in 137 appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period 138 (f) SPECIAL ASSESSMENTS: At Closing, Seller will pay: (i) the full amount of liens imposed by a public body 139 ( "public body" does not include a Condominium or Homeowner's Association) that are certified, confirmed and 140 ratified before Closing; and (10 the amount of the public body's most recent estimate or assessment for ar 141 improvement which is substantially complete as of Effective Date, but that has not resulted in a lien being 142 imposed on the Property before Closing. Buyer will pay all other assessments. If special assessments may 143 be paid in installments (CHECK ONE): 144 © (a) Seller shall pay installments due prior to Closing and Buyer shall pay installments due after 145 Closing. installments prepaid or due for the year of Closing shall be prorated. 146• ❑ (b) Seller shall pay the assessment(s) in full prior to or at the time of Closing. 147 IF NEITHER BOX IS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. 148 This Paragraph 9(f) shall not apply to a special benefit tax lien imposed by a community development district 149 (CDD) pursuant to Chapter 190 F S which lien shall be treated as an ad valorem tax and prorated pursuant to 150 STANDARD K, Buyer's Initials � Page 3 of 10 Seller's Initials FlondaRealtors/Florida ar -A IS -1 Rev 6/10 ® 2010 Florida Realtors® and The Florida Bar All rights reserved 151 DISCLOSURES 152 10. DISCLOSURES: 1s3 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 suffdent quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding 156 radon and radon testing may be obtained from your county health department 157 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, 156 Seller does not know of any Improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed. 160 (c) MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concemed or 161 desires additional information regarding mold, Buyer should contact an appropriate professional. 162 (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in, whether flood Insurance is required by Buyer's lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty. If Property Is in a "Special Flood Hazard Area 165 or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days after Effective Date, fading which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property. 168 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy- Efficiency Rating Information Brochure 169 required by Section 553.996, F.S. 170 (f) LEAD -BASED PAINT: If Property includes pre -1978 residential housing, a lead -based paint rider is 171 mandatory. 172 (g) HOMEOWNERS' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' 174 ASSOCIATION /COMMUNITY DISCLOSURE, IF APPLICABLE. 175 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE 180 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 181 (1) TAX WITHHOLDING: If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act ("FIRPTA "), Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at Closing. 184 (j) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in•the preceding sentence 186 or otherwise disclosed in writing: (1) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building, environmental or safety code violation; and (2) Seller 188 extends and intends no warranty and makes no representation of any type, either express or implied, as to the 189 physical condition or history of the Property. 190 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS 191 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the 192 Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date 193 ( "AS IS Maintenance Requirement "). 194 12. PROPERTY INSPECTION; RIGHT TO CANCEL: 195* (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 10 (If blank, 15) days from 196 Effective Date ( "Inspection Period ") within which to have such inspections of the Property performed 197 as Buyer shall desire during the inspection Period. If Buyer determines, in Buyer's sole discretion, that 198 the Properly is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be Immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract; however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such inspections, and shaft provide Seller with paid receipts for all work done on the 204 Property (the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 208 violation of governmental, building, environmental, and safety codes, restrktions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender. Buyer's Initials i7" _ Page 4 of 10 Seiler's Initials L FloridaRealtors lFloridaBar- ASIS -1 Rev. 6/10 0 2010 Florida Realtors® and The Florida Bar. All rights reserved. 209 (b) WALK - THROUGH INSPECTION /RE- INSPECTION: On the day prior to Closing Date, or on Closing Date pnoi 210 to time of Closing, as specified by Buyer, Buyer or Buyer's representative may perform a walk - through (and 211 follow -up walk- through, if necessary) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations. 214 (0) SELLER ASSISTANCE AND COOPERATION IN CLOSE -OUT OF BUILDING PERMITS: If Buyer's 215 inspection of the Property identifies open or needed building permits, then Seller shall promptly deliver to 216 Buyer all plans, written documentation or other information in Seller's possession, knowledge, or control 217 relating to improvements to the Property which are the subject of such open or needed Permits, and shall 218 promptly cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary 220 authorizations, consents, or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared, but in fulfilling such obligation, Seller shall not be required to expend, or 222 become obligated to expend, any money. 223 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and 224 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer 226 ESCROW AGENT AND BROKER 227 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively "Agent ") receiving the Deposit, other funds 228 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 229 within the State of Flonda and, subject to COLLECTION, disburse them in accordance with terms and conditions 230 of this Contract. Failure of funds to become COLLECTED shall not excuse Buyer's performance When conflicting 231 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 232 may take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent's duties 233 or liabilities under this Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow 234 until the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shall 235 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 236 of the dispute. An attomey who represents a party and also acts as Agent may represent such party in such 237 action Upon notifying all parties concemed of such action, all liability on the part of Agent shall fully terminate, 236 except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate 239 broker, Agent will comply with provisions of Chapter 475, F.S , as amended and FREC rules to timely resolve 240 escrow disputes through mediation, arbitration, interpleader or an escrow disbursement order 241 Any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder 242 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 243 attomey's fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent 244 Agent shall not be liable to any party or person for mis- delivery of any escrowed items, unless such mis- delivery is 245 due to Agent's willful breach of this Contract or Agent's gross negligence. This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition, 248 square footage, and all other facts and representations made pursuant to this Contract and to consult appropriate 249 professionals for legal, tax, environmental, and other specialized advice concerning matters affecting the Property 250 and the transaction contemplated by this Contract. Broker represents to Buyer that Broker does not reside on the 251 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or 252 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (individually, the "Indemnifying Party ") each 256 individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and 257 employees from all liability for loss or damage, including all costs and expenses, and reasonable attomey's fees 256 at all levels, suffered or incurred by Broker and Broker's officers, directors, agents and employees in connection 259 with or arising from claims, demands or causes of action instituted by Buyer or Seller based on (1) inaccuracy of 260 information provided by the Indemnifying Party or from public records; (it) indemnifying Party's misstatement(s) or 261 failure to perform contractual obligations; (iii) Broker's performance, at Indemnifying Party's request, of any task 262 beyond the scope of services regulated by Chapter 475, F S., as amended, including Broker's referral, 263 recommendation or retention of any vendor for, or on behalf of, Indemnifying Party, (iv) products or services 264 provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any such 265 vendor. Buyer and Seller each assumes full responsibility for selecting and compensating their respective vendors 266 and paying their other costs under this Contract whether or not this transaction closes This Paragraph 14 will not 267 relieve Broker of statutory obligations under Chapter 475 F 5 as amended For - purposes of this Paragraph 14 _P� Buyer's Initials � Page 5 of 10 Seller's Initials __., FloridaRealtors /Flo ASIS -1 Rev 6/10 0 2010 Florida Realtor;® and The Florida Bar All rights reserved 268 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 15. DEFAULT: 272 (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer's obligations under this Contract, 273 including payment of the Deposit, within the time(s) specified, Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this 275 Contract, and in full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity 277 to enforce Seller's rights under this Contract. The portion of the Deposit, If any, paid to Listing Broker upon 278 default by Buyer, shall be split equally between Usting Broker and Cooperating Broker, provided however, 279 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's title marketable after 282 reasonable diligent effort, Seller faits, neglects or refuses to perform Seller's obligations under this Contract, 283 Buyer may elect to receive return of Buyer's Deposit without thereby waiving any action for damages resulting 284 from Seller's breach, and, pursuant to Paragraph 16, may seek to recover such damages or seek specific 285 performance. This Paragraph 15 shall survive Closing or termination of this Contract. 286 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and 287 Seller arising out of, or relating to, this Contract or its breach, enforcement or interpretation ( "Dispute) will be 288 settled as follows: 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute, failing which, Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16(b). 292 (b) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court- Appointed Mediators and Chapter 44, F.S., as amended (the "Mediation Rules'). 294 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 295 sought without first complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 16 297 shall survive Closing or termination of this Contract. 298 17. ATTORNEY'S FEES; COSTS: The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs, expenses and fees, including attomey's fees, incurred in 300 conducting the mediation. in any litigation permitted by this Contract, the prevailing party shall be entitled to 301 recover from the non - prevailing party costs and fees, including reasonable attomey's fees, incurred in conducting 302 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract. 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ( "STANDARDS ") 304 18. STANDARDS: 305 A. TITLE: 3os (i) TITLE EVIDENCE; RESTRICTIONS; EASEMENTS; LIMITATIONS: Within the time period provided in 307 Paragraph 9(c), the Title Commitment, with legible copies of instruments listed as exceptions attached thereto, shall we be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner's policy of title insurance in the 310 amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property, 311 subject only to the following matters: (a) comprehensive land use plans, zoning, and other land use restrictions, 312 prohibitions and requirements imposed by governmental authority; (b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision; (c) outstanding oil, gas and mineral rights of record without right of entry; 314 (d) unptatted public utility easements of record (located contiguous to real property lines and not more than 10 feet in 315 width as to rear or front lines and 7 1/2 feet in width as to side lines); (e) taxes for year of Closing and subsequent 316 years; and (t) assumed mortgages and purchase money mortgages, if any (if additional items, attach addendum); 317 provided, that none prevent use of the Property for RESIDENTIAL PURPOSES. If there exists at Closing any 318 violation of items identified in (b) - (f) above, then the same shall be deemed a title defect. Marketable title shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with 320 law. 321 (ii) TITLE EXAMINATION: Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it 323 IS delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days ( "Cure Period ") 325 after receipt of Buyer's notice to take reasonable diligent efforts to remove defects. 0 Buyer fails to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period, Seller will Buyer's Initials J Page 6 of 10 Seller's Initials Ce, FloridaRealtors /Floridaear- ASIS -1 Rev. 6/10 ® 2010 Florida Realtorse and The Florida Bar. All rights reserved. ' — 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt of Seller's 330 notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of 331 Cure Period, deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects ("Extended Cure 333 Period "); or (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed, within the earlier of 10 days after end of Extended Cure Period or Buyer's receipt of Seller's notice), or 335 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from 336 all further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects, 337 and Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit. 338 thereby releasing Buyer and Seller from ail further obligations under this Contract 339 B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 340 encroach on setback lines, easements, or lands of others; or violate any restrictions, covenants, or applicable 341 governmental regulations described in STANDARD A (i)(a), (b) or (d) above, Buyer shall deliver written notice of such 342 matters, together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later than 343 Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seiler has delivered a prior 345 survey, Seller shall, at Buyer's request, execute an affidavit of "no change" to the Real Property since the 346 preparation of such prior survey, to the extent the affirmations therein are true and correct 347 C. INGRESS AND EGRESS: Seller represents that there is ingress and egress to the Real Property and title to 34e the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access. 34s D. LEASES: Seller shall, within 5 days after Inspection Period, furnish to Buyer copies of all written leases and 3so estoppel letters from each tenant specifying nature and duration of tenant's occupancy, rental rates, advanced rent 351 and security deposits paid by tenant, and income and expense statements for preceding 12 months ( "Lease 352 Information "). If Seller is unable to obtain estoppel letters from tenant(s), the same information shall be furnished by 353 Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenant(s) 354 to confirm such infonnation If terms of the lease(s) differ materially from Seller's representations, Buyer may deliver 355 written notice to Seller within 5 days after receipt of Lease Information, but no later than 5 days prior to Closing 356 Date, terminating this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all 357 further obligations under this Contract. Seller shall, at Closing, deliver and assign all original leases to Buyer who 358 shall assume Seller's obligation thereunder. 359 E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting; (1) to the absence of any financing 360 statement, claims of lien or potential lienors known to Seller, and (ii) that there have been no improvements or repairs 361 to the Real Property for 90 days immediately preceding Closing Date. If the Real Property has been improved 01 362 repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all general 3s3 contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth names of all 364 such general contractors, subcontractors, suppliers and materialmen, further affirming that all charges for 365 improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been paid 366 or will be paid at Closing. 367 F. TIME: Calendar days shall be used in computing time periods. Any time periods provided for in this Contract 368 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U.S C 6103) shall extend to 5'00 p m 369 (where the Property is located) of the next business day. Time Is of the essence In this Contra ct. 370 G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non - performance of the obligation is delayed, caused or 372 prevented by Force Majeure "Force Majeure" means hurricanes, earthquakes, floods, fire, acts of God, unusual 373 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control of 374 Buyer or Seller, and which, by exercise of reasonable diligent effort, the non - performing party is unable in whole or in 375 part to prevent or overcome. All time periods, including Closing Date, will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract. 380 H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, 381 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters described 362 in STANDARD A and those accepted by Buyer Personal Property shall, at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this Contract 384 I. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE: 385 (1) LOCATION: Closing will take place in the county where the Real Property is located at the office of the 386 attorney or other closing agent ( "Closing Agent ") designated by the party paying for the owner's policy of title Buyer's Initials Page 7 of 10 Seller's Initials lir FloridaRealtors /Florid Bar - ASIS -1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar All rights reserved 387 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 388 insurance, or, if no title insurance, designated by Seller. Closing may be conducted by mait or electronic means. 389 (ii) CLOSING DOCUMENTS: At Closing, Seller shall furnish and pay for, as applicable, deed, bill of sale, 3so certificate of title, construction lien affidavit, owner's possession affidavit, assignments of leases, and corrective 391 instruments. Seller shall provide Buyer with paid receipts for all work done on the Property pursuant to this Contract. 392 Buyer shall furnish and pay for, as applicable, mortgage, mortgage note, security agreement, financing statements, 393 survey, base elevation certification, and other documents required by Buyer's lender. 394 (iii) PROCEDURE: The deed shall be recorded upon COLLECTION of all closing funds. If the Title 395 Commitment provides insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the 396 escrow closing procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to 397 COLLECTION of all closing funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to 398 Seller. 399 J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide 400 for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following escrow 401 and closing procedures shall apply: (1) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing; (2) if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer 403 shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect (3) if Seiler fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, simultaneously with 406 such repayment, Buyer shall retum the Personal Property, vacate the Real Property and re- convey the Property to 407 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the 408 Deposit, Buyer shall take title as is, waiving ail rights against Seller as to any intervening defect except as may be 409 available to Buyer by virtue of warranties contained in the deed or bill of sale. 410 K. PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as of 411 the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes 412 (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents 413 and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if assumable, in 414 which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by 415 prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited to 416 Buyer. Escrow deposits held by Seller's mortgagee will be" paid to Seller. Taxes shall be prorated based on current 417 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing 418 occurs on a date when current year's millage is not fixed but current year's assessment is available, taxes will be 419 prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then 420 taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1st of 421 year of Closing, which improvements were not in existence on January 1st of prior year, then taxes shall be prorated 422 based upon prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, 423 request shall be made to the County Property Appraiser for an informal assessment taking into account available 424 exemptions. A tax proration based on an estimate shall, at either party's request, be readjusted upon receipt of 425 current year's tax bill. This STANDARD K shall survive Closing. 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK - THROUGH: Seller 427 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, 42e including a walk- through (or follow -up walk -through if necessary) prior to Closing. 429 M. RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire or other casualty 430 ("Casualty Loss ") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1.5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing, a sum equal to 125% of estimated 433 cost to complete restoration (not to exceed 1.5% of Purchase Price), will be escrowed at Closing. If actual cost of 434 restoration exceeds escrowed amount, Seller shall pay such actual costs (but, not in excess of 1.5% of Purchase 435 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1.5% of 43s Purchase Price, Buyer shall elect to either take Property as is together with the 1.5 %, or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation 438 with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. 439 N. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like -kind exchange (either simultaneous with 440 Closing or deferred) under Section 1031 of the Internal Revenue Code ( "Exchange "), the other party shall cooperate 441 in all reasonable respects to effectuate the Exchange, including execution of documents; provided, however, 442 cooperating party shall incur no liability or expense related to the Exchange, and Closing shall not be contingent 443 upon, nor extended or delayed by, such Exchange. 444 O. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any 445 notice of it shall be recorded in any public records. This Contract shall be binding on, and inure to the benefit of, the 446 parties and their respective heirs or successors in interest. Whenever the context permits, singular shall include_plural Buyer's Initials Page 8 of 10 Seller's Initials e FloridaRealtors/Florida ar- ASIS -1 Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar All rights reserved. 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 448 and one gender shall include all. Notice and delivery given by or to the attorney or broker (including such broker's real 449 estate licensee) representing any party shall be as effective as if given by or to that party All notices must be in aso writing and may be made by mail, personal delivery or electronic (including "off') media. A legible facsimile or 451 electronic (including "pdf") copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original. 453 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement 454 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or ass representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change 456 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. 458 Q. WAIVER: Failure of Buyer or Seller to insist on compliance with, or strict performance of, any provision of this ass Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 460 rights. 461 R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 482 or handwritten provisions shall control all printed provisions of this Contract In conflict with them. 463 S. COLLECTION or COLLECTED: "COLLECTION- or "COLLECTED" means any checks tendered or received, 484 including Deposits, have become actually and finally collected and deposited in the account of Escrow Agent 465 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 486 Closing Agent until such amounts have been COLLECTED in Closing Agent's accounts. 467 T. LOAN COMMITMENT: "Loan Commitment' means a statement by the lender setting forth the terms and 468 conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. 469 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of 47o Florida and venue for resolution of all disputes, whether by mediation, arbitration or litigation, shall lie in the county in 471 which the Real Property is located. 472 X. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 476 ADDENDA AND ADDITIONAL TERMS 477 19. ADDENDA: The following additional terms are included in the attached addenda and incorporated into this 478' Contract (Check if applicable): ❑ A. Condominium Assn. ❑ L. RESERVED ❑ R. Rezoning ❑ Y Seller's Attorney ❑ B. Homeowners' Assn. 0 S. Lease Purchase / Approval ❑ C. Seller Financing ❑ M. Defective Drywall Lease Option ❑ Z. Buyer's Attorney ❑ D. Mortgage Assumption ❑ N. Coastal Construction ❑ T Pre - Closing Approval ❑ E. FHA/VA F inancing Control Line Occupancy ❑ M. Licensee- Personal ❑ F. Appraisal Contingency ❑ O. Insulation Disclosure ❑ U. Post- Closing interest in Property ❑ G. Short Sale © P. Pre -1978 Housing Occupancy ❑ BB. Binding Arbitration ❑ H. Homeowners' Insurance Statement (Lead ❑ V. Sale of Buyer's Other - ❑ I. FIRPTA Based Paint) Property _.- ❑ J Interest - Bearing Acct. ❑ Q. Housing for Older ❑ W. Back -up Contract ❑ K. RESERVED Persons ❑ X Kick -out Clause 479 20. ADDITIONAL TERMS: Seller will provide a zero interest 2 second mortgage to buyer in a an amount and term 480' to be determined. 481' 482• Seller is construction a new 3 /bedrooms /2bathsllcar garage home described as Model C (Sheet 4) as selected by 483• buyer 484' 485' _�_--- 486' - - -- 487` 488' 489' 490' 491* 492' 492' 493' � n Buyer's Initials Page 9 of 10 Seller's Initials FloridaRealtors /FloridaBar- ASIS -1 Rev 6/10 O 2010 Flonda Realtors® and The Flonda Bar All nghts reserved 494 COUNTER- OFFER/REJECTION ass ❑ Seller counters Buyer's offer (to accept the counter- offer, Buyer must sign or initial the counter- offered terms and a96 deliver a copy of the acceptance to Seller). 497* ❑ Seller rejects Buyer's offer. 496 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING. Soo THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all Interested 504 persons. 505 AN ASTERISK ( *) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 506 BE COMPLETED. 507* Buyer: :2- U Date: 9-47. /Z 506 Buyer. Date: 9.....49 / 2 s09• Seller: ../<- fl:*:.----, Date: 510' Seller: Date: 511 Buyer's address for purposes of notice Seller's address for purposes of notice 512* 513' 514* 515 BROKER: Listing and Cooperating Brokers, if any, named below (collectively, "Broker "), are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 518 agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has 519 retained-such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation 520 made by Seller or Listing Broker to Cooperating Brokers. 521• N/A N/A 522 Cooperating Sales Associate, if any Listing Sales Associate 523' 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FlondaRealtors/FloridaBar- ASIS -1 Rev 6/10 0 2010 Florida Realtors® and The Florida Bar. All rights reserved. , ( � H A Residential R APPROVED B THE FLORIDA REALTORS And THE FLORIDA r i n Florida Realtors* i• PARTIES: BOYNTON BEACH FAITH BASED COMMUNITY DEVELOPMENT CORP. ("Seller, 2' and JESSICA JONES- BRIDGETT ("Buyer"), 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively "Property) pursuant to the terms and conditions of this AS IS Residential Contract For Sale 5 And Purchase and any riders and addenda ( "Contract"): 6 1. PROPERTY DESCRIPTION: r (a) Street address, city, zip: XXX NW 6TH AVENUE, BOYNTON BEACH, FL 33435 a (b) Property is located in: PALM BEACH County, Florida. Real Property Tax ID No: 08434521380000200 9' (c) Legal description of the Real Property: LOT 20 OF OCEAN BREEZE WEST, according to the plat thereof, 10' as recorded In Plat Book 114, Pages 23 -24 of the Public records of Palm Beach County, Florida 11 together with all existing improvements and fixtures, including built -in appliances, built-in furnishings and 12 attached wall -to -wall carpeting and flooring (`Real Property") unless specifically excluded below. 13 (d) Personal Property: The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are included in the purchase ('Personal Property"): (i) range(s) /oven(s), dishwasher(s), 15 disposal, ceiling fan(s), intercom, light fixtures, rods, draperies and other window treatments, garage door 16 openers, and security gate and other access devices; and (H) those additional items checked below. if 1r additional details are necessary, specify below. If left blank, the item below is not included: Refrigerator(s) Smoke detector(s) Pool barrier /fence Storage shed Mcrowave oven Security system Pool equipment TV antenna/satellite dish Washer Window/wail a/c Pool heater Water softener /purifier Dryer Generator Spa or hot tub with heater Storm shutters and Stand -atone ice maker Above ground pool panels 18 The only other items of Personal Property included in this purchase, and any additional details regarding 19' Personal Property, if necessary, are: NONE 20' 21 Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. ( 22• (e) The following items are excluded from the purchase: 23' 24' 2. PURCHASE PRICE (U.S. currency) $ 160,000.00 25' (a) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ 1,000.00 28 The initial deposit made payable and delivered to "Escrow Agent" named below 27' (CHECK ONE):® accompanies offer or ❑ is to be made upon acceptance (Effective Date) 28' or ❑ is to be made within (if blank, then 3) days after Effective Date 29• Escrow Agent Information: Name: — ELVIS LONGMAN & WALKER, P.A. 30* Address: 515 N Flagler Dr, Ste. 1500, WPB, FL 33401 Phone: (561)640 -0820 31* E -mail: Fax: (541)640 -0802 32' (b) Additional deposit to be delivered to Escrow Agent within 60 (if blank, then 3) 33• days after Effective Date $ 4,600.OQ 34 (All deposits paid or agreed to be paid, are collectively referred to as the "Deposit ") 35• (c) Financing: Express as a dollar amount or percentage ( "Loan Amount ") see Paragraph 8 36' (d) Other: $ 37 (e) Balance to close (not including Buyers closing costs, prepaids and prorations) by wire 38• transfer or other COLLECTED funds $ 154,400.00 39 NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARD S. 40 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER -OFFERS; EFFECTIVE DATE: 41' (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 9/13/2012 42' , this offer shall be deemed withdrawn and the Deposit, if any, will be retumed to Buyer. 43 Unless otherwise stated, time for acceptance of any counter -offers shall be within 2 days after the day the 44 counter -offer is delivered. 45 (b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 46 initialed this offer or final counter -offer ( "Effective Date "). 47 4. CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this transaction shall occur 48 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49* ("Closing"). on Or Before 1/30/2013 ( "Closing Date "), at the time established by the Closing Agent. Buyer's Initials ' J Page 1 of 10 Seller's initials eC ._- _ FloridaReafors/Flo agar- ASiS -1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. Ali rights reserved. so 5. EXTENSION OF CLOSING DATE: si (a) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth in Lending Act (VILA) 52 notice requirements, Closing shall be extended for such period necessary to satisfy TILA notice requirements 53 not to exceed 7 days. 54 (b) If extreme weather or other condition or event constituting "Force Majeure" (see STANDARD G) causes. 55 (i) disruption of utilities or other services essential for Closing, or (ii) Hazard, Wind, Flood or Homeowners° 56 insurance, to become unavailable prior to Closing, Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard, Wind, se Flood or Homeowners' insurance. If restoration of such utilities or services and availability of insurance has not 59° occurred within (if left blank, 14) days after Closing Date, then either party may terminate this 60 Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract. 62 6. OCCUPANCY AND POSSESSION: Unless otherwise stated herein, Seller shall at Closing, have removed ail 63 personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, 64 garage door openers, access devices and codes, as applicable, to Buyer. If Property is intended to be rented or 6s occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant 66 to STANDARD D. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from 67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy. 69' 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from an further liability 70' under this Contract; ❑ may assign but not be released from liability under this Contract; or any not assign 71 this Contract 72 FINANCING 73 8.FINANCING: 74' ❑ (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing 75 contingency to Buyer's obligation to close. 76' ❑ (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a © conventional p FHA 77' ❑ VA loan on the following terms within 60 if blank, then 30) days after Effective Date ( "Loan 78' Commitment Date ") for: (CHECK ONE): © fixed, D] adjustable, ❑ fixed or adjustable rate loan in 79. the principal amount of $ 115,000.00 or % of the Purchase Price, at an initial interest rate BO' not to exceed % (if blank, then prevailing rate based upon Buyer's creditworthiness), and for a 81° term of years ( "Financing ') 82' Buyer will make mortgage loan application for the Financing within 30 (if blank, then 5) days after 83 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing 84 ( "Loan Commitment and close this Contract. Buyer shall keep Seller and Broker fully informed about 85 the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and 86 Buyer's lender to disclose such status and progress to Seller and Broker. 87 If Buyer does not receive Loan Commitment, then Buyer may terminate this Contract by delivering written B8 notice to Seiler, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from ali 89 further obligations under this Contract 90 If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of 91 this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations under this Contract 94 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not 95 thereafter close, the Deposit shall be paid to Seller unless failure to close is due to (1) Seller's default 96 (2) Property related conditions of the Loan Commitment have not been met (except when such conditions 97 are waived by other provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is 98 insufficient to meet terms of the Loan Commitment; or (4) the loan is not funded due to financial failure of 99 Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seller too from all further obligations under this Contract. 1o1• ❑ (c) Assumption of existing mortgage (see rider for terms) 102' ❑ (d) Purchase money note and mortgage to Seller (see riders; addenda; or special clauses for terms) Buyer's Initials - Page 2 of 10 Seller's Initials _ FlondaRealtors /Flo . - ASIS -1 Rev 6/10 ® 2010 Florida Realtors® and The Florida Bar All rights reserved 103 CLOSING COSTS, FEES AND CHARGES 104 9. CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 10s• (a) COSTS TO BE PAID BY SELLER: • Documentary stamp taxes and surtax on deed, if any • HOA/Condominium Association estoppel fees • Owner's Policy and Charges (if Paragraph 9(c)(i) is checked) • Recording and other fees needed to cure title • Title search charges (if Paragraph 9(c)(iii) is checked) • Seller's attomeys' fees • Other: 106 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 108 Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs. Any unused portion of escrowed amount shall be retumed to Seller. 110. (b) COSTS TO BE PAID BY BUYER: • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner's Policy and Charges (if Paragraph 9(c)(1i) is checked) • Buyer's Inspections • Survey (and elevation certification, if required) • Buyer's attomeys' fees • Lender's title policy and endorsements • All property related insurance • HOA/Condominlum Association application/transfer fees • Other: i• (c) TITLE EVIDENCE AND INSURANCE: At least (if blank, then 5) days prior to Closing Date, a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ( "Title Commitmenr) and, after Closing, an owner's policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. if Seller has an owner's policy of title 115 insurance covering the Real Property, a copy shall be furnished to Buyer and Closing Agent within 5 days after 118 Effective Date. The owner's title policy premium and charges for owner's policy endorsements, title search, 117 and closing services (collectively, "Owner's Policy and Charges ') shall be paid, as set forth below 118 (CHECK ONE): 119• © (1) Seller will designate Closing Agent and pay for Owner's Policy and Charges (but not including charges 120 for closing services related to Buyer's lender's policy and endorsements and loan closing, which amounts 121 shall be paid by Buyer to Closing Agent or such other provider(s) as Buyer may select); or 122 ❑ (ii) Buyer will designate Closing Agent and pay for Owner's Policy and Charges and charges for closing 123 services related to Buyer's lender's policy, endorsements,.and loan closing; or 124' ❑ (iii) (MIAMI - DADE/BROWARD REGIONAL PROVISION]: Seller will fumish a copy of a prior owner's policy 125 of title insurance or other evidence of title and pay fees for: (A) a' continuation or update of such title evidence, 126 which is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; and 127 (C) municipal lien search. Buyer shall obtain and pay for post - Closing continuation and premium for Buyer's 128 owner's policy, and if applicable, Buyer's lender's policy. Seller shall not be obligated to pay more than 129 $ (if blank, $200.00) for abstract continuation or title search ordered or performed by Closing 130 Agent. 131 (d) SURVEY: At least 5 days prior to Closing, Buyer may, at Buyer's expense, have the Real Property surveyed 132 and certified by a registered Florida surveyor ( "Survey "). If Seller has a survey covering the Real Property, a 133 copy shall be fumished to Buyer and Closing Agent within 5 days after Effective Date. 134• (e) HOME WARRANTY: At Closing, ❑ Buyer ❑ Seller ® N/A will pay for a home warranty plan issued by 135 at a cost not to exceed $ . A home 136 warranty plan provides for repair or replacement of many of a home's mechanical systems and major built -in 137 appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period. 138 (f) SPECIAL ASSESSMENTS: At Closing, Seller will pay: (i) the full amount of liens imposed by a public body 139 ( "public body" does not include a Condominium or Homeowner's Association) that are certified, confirmed and 140 ratified before Closing; and (ii) the amount of the public body's most recent estimate or assessment for an 141 improvement which is substantially complete as of Effective Date, but that has not resulted in a lien being 142 imposed on the Property before Closing. Buyer will pay all other assessments. If special assessments may 143 be pald in installments (CHECK ONE): 144' © (a) Seller shall pay installments due prior to Closing and Buyer shall pay installments due after 145 Closing. Installments prepaid or due for the year of Closing shall be prorated. 146• ❑ (b) Seller shall pay the assessment(s) in full prior to or at the time of Closing. 147 IF NEITHER BOX iS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. 148 This Paragraph 9(f) shall not apply to a special benefit tax lien imposed by a community development district 149 (CDD) pursuant to Chapter 190 F.S. which Hen shall be treated as an ad valorem tax and prorated pursuant to 150 STANDARD K. Buyer's Initials Page 3 of 10 Seller's initials FloridaReaitors/Flo SIS -1 Rev. 6/1062010 Florida Realtors® and The Florida Bar. All rights reserved. 151 DISCLOSURES 152 10. DISCLOSURES: 153 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a budding in 154 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding 156 radon and radon testing may be obtained from your county health department. 157 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, 158 Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed. 160 (c) MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or 161 desires additional information regarding mold, Buyer should contact an appropriate professional. 162 (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in, whether flood insurance is required by Buyer's lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area' 165 or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days after Effective Date, failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property. 1sa (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy- Efficiency Rating Information Brochure 169 required by Section 553.996, F.S i70 (f) LEAD -BASED PAINT: If Property includes pre -1978 residential housing, a lead -based paint rider IS 171 mandatory. 172 (g) HOMEOWNERS' ASSOCIATION /COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' 174 ASSOCIATION /COMMUNITY DISCLOSURE, IF APPLICABLE. 175 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION CONTACT THE 18o COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 181 (i) TAX WITHHOLDING: If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act ( "FIRPTA "), Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at Closing. 184 (j) SELLER DISCLOSURE: Seller knows of no facts matenally affecting the value of the Real Property which are 166 not readily observable and which have not been disclosed to Buyer Except as stated in the preceding sentence 186 or otherwise disclosed in writing: (1) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building, environmental or safety code violation; and (2) Seller lea extends and intends no warranty and makes no representation of any type, either express or implied, as to the 189 physical condition or history of the Property 190 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS 191 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the 192 Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date 193 ( "AS IS Maintenance Requirement "). 194 12. PROPERTY INSPECTION; RIGHT TO CANCEL: 19s• (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 10 (if blank, 15) days from 196 Effective Date ( "Inspection Period') within which to have such inspections of the Property performed 197 as Buyer shall desire during the inspection Period. If Buyer determines, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seiler shall 201 be released of all further obligations under this Contract; however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such inspections, and shall provide Seller with paid receipts for all work done on the 204 Property (the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmental, and safety codes, restrictions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender Buyer's Initials r Page 4 of 10 Seller's Initials FloridaRealtors /Flo ASIS -1 Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar All rights reserved 209 (b) WALK- THROUGH INSPECTION /RE- INSPECTION: On the day prior to Closing Date, or on Closing Date prior 210 to time of Closing, as specified by Buyer, Buyer or Buyer's representative may perform a walk- through (and 211 follow -up walk- through, if necessary) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations. 214 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE -OUT OF BUILDING PERMITS: if Buyer's 215 inspection of the Property identifies open or needed building permits, then Seller shall promptly deliver to 216 Buyer all plans, written documentation or other information in Seller's possession, knowledge, or control 217 relating to improvements to the Property which are the subject of such open or needed Permits, and shall 218 promptly cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary 220 authorizations, consents, or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared, but In fulfilling such obligation, Seller shall not be required to expend, or 222 become obligated to expend, any money. 223 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and 224 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer. 226 ESCROW AGENT AND BROKER 227 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively "Agent") receiving the Deposit, other funds 228 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 229 within the State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 230 of this Contract. Failure of funds to become COLLECTED shall not excuse Buyer's performance. When conflicting 231 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 232 may take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent's duties 233 or liabilities under this Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow 234 until the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shall 235 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 238 of the dispute. An attorney who represents a party and also acts as Agent may represent such party in such 237 action. Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, 238 except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate 239 broker, Agent will comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve 240 escrow disputes through mediation, arbitration, interpleader or an escrow disbursement order. 241 Any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, 242 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 243 attomey's fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person for mis- delivery of any escrowed items, unless such mis- delivery is 245 due to Agent's willful breach of this Contract or Agent's gross negligence. This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises, Buyer and Seller to verify Property condition, 248 square footage, and all other facts and representations made pursuant to this Contract and to consult appropriate 249 professionals for legal, tax, environmental, and other specialized advice conceming matters affecting the Property 250 and the transaction contemplated by this Contract. Broker represents to Buyer that Broker does not reside on the 251 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or 252 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL. INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (individually, the "Indemnifying Party") each 256 individually Indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and 257 employees from ail liability for loss or damage, including all costs and expenses, and reasonable attomey's fees 258 at all levels, suffered or incurred by Broker and Broker's officers, directors, agents and employees in connection 259 with or arising from claims, demands or causes of action instituted by Buyer or Seller based on: (i) inaccuracy of 260 information provided by the Indemnifying Party or from public records; (ii) Indemnifying Party's misstatement(s) or 261 failure to perform contractual obligations; (iii) Broker's performance, at Indemnifying Party's request, of any task 262 beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral, 263 recommendation or retention of any vendor for, or on behalf of, Indemnifying Party; (iv) products or services 264 provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any such 265 vendor. Buyer and Seller each assumes full responsibility for selecting and compensating their respective vendors 266 and paying their other costs under this Contract whether or not this transaction closes. This Paragraph 14 will not 267 relieve Broker of statutory obligations under Chapter 475, F.S., as amended. For purposes of this Paragraph 14, Buyer's Initials Page 5 of 10 Seller's Initials E,fd FloridaRealtors/FI - ASIS -1 Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. 268 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of thic, 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 15. DEFAULT: 272 (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer's obligations under this Contract, 273 including payment of the Deposit, within the times) specified, Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this 275 Contract, and In full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity 277 to enforce Seller's rights under this Contract. The portion of the Deposit, if any, paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker; provided however, 279 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's title marketable after 282 reasonable diligent effort, Seller fails, neglects or refuses to perform Seller's obligations under this Contract, 293 Buyer may elect to receive retum of Buyer's Deposit without thereby waiving any action for damages resulting 284 from Sellers breach, and, pursuant to Paragraph 16, may seek to recover such damages or seek specific 285 performance. This Paragraph 15 shall survive Closing or termination of this Contract. 286 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and 287 Seller arising out of, or relating to, this Contract or its breach, enforcement or interpretation ( "Dispute ") will be 288 settled as follows: 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to z90 resolve such Dispute, failing which, Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16(b). 292 (b) Buyer and Seller shall attempt to settle Disputes in an amicable mariner through mediation pursuant to Florida 293 Rules for Certified and Court- Appointed Mediators and Chapter 44, F S , as amended (the "Mediation Rules ") 294 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 295 sought without first complying with this Paragraph 16(b) Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropnate court having jurisdiction of the matter This Paragraph 16 291 shall survive Closing or termination of this Contract. 298 17. ATTORNEY'S FEES; COSTS: The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs, expenses and fees, including attorney's fees, incurred In 300 conducting the mediation. In any litigation permitted by this Contract, the prevailing party shall be entitled to 301 recover from the non- prevailing party costs and fees, including reasonable attomey's fees, incurred in conducting 302 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ( "STANDARDS ") 304 18. STANDARDS: 305 A. TITLE: 3os (I) TITLE EVIDENCE; RESTRICTIONS; EASEMENTS; LIMITATIONS: Within the time period provided it 307 Paragraph 9(c), the Title Commitment, with legible copies of instruments listed as exceptions attached thereto, shall 308 be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner's policy of title insurance in the 310 amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property 311 subject only to the following matters: (a) comprehensive land use plans, zoning, and other land use restrictions 312 prohibitions and requirements imposed by governmental authority; (b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision; (c) outstanding oil, gas and mineral rights of record without right of entry 314 (d) unplatted public utility easements of record (located contiguous to real property lines and not more than 10 feet In 315 width as to rear or front lines and 7 1/2 feet in width as to side lines); (e) taxes for year of Closing and subsequent 316 years, and (f) assumed mortgages and purchase money mortgages, if any (if additional items, attach addendum), 317 provided, that none prevent use of the Property for RESIDENTIAL PURPOSES. If there exists at Closing any 318 violation of items identified in (b) - (f) above, then the same shall be deemed a title defect Marketable title shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with 320 law 321 (ii) TiTLE EXAMINATION: Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A, Seller shall have 30 days ( "Cure Period "? 325 after receipt of Buyer's notice to take reasonable diligent efforts to remove defects. If Buyer fails to so notify Seller 326 Buyer shall be deemed to have accepted title as it then is If Seller cures defects within Cure Period Seller wil` Buyer's Initials — : Page 6 of 10 Seller's initials FloridaRealtors /Fiond IS -1 Rev 6/10 0 2010 Florida Realtors® and The Florida Bar Alt nghts reserved 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt of Seller's 330 notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of 331 Cure Period, deliver written notice to Seiler: (a) extending Cure Period for a specified period not to exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects ( "Extended Cure 33s Period"); or (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Hate 334 has passed, within the earlier of 10 days after end of Extended Cure Period or Buyer's receipt of Seller's notice), or 335 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from 336 all further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects, 337 and Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 34o encroach on setback lines, easements, or lands of others; or violate any restrictions, covenants, or applicable 341 governmental regulations described in STANDARD A (1)(a), (b) or (d) above, Buyer shall deliver written notice of such 342 matters, together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later than 343 Closing. if Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered a prior 345 survey, Seller shall, at Buyer's request, execute an affidavit of no change" to the Real Property since the 348 preparation of such prior survey, to the extent the affirmations therein are true and correct. 347 C. INGRESS AND EGRESS: Seller represents that there is ingress and egress to the Real Property and title to 348 the Real Property Is insurable in accordance with STANDARD A without exception for lack of legal right of access. 349 D. LEASES: Seller shall, within 5 days after Inspection Period, furnish to Buyer copies of all written leases and 350 estoppel letters from each tenant specifying nature and duration of tenant's occupancy, rental rates, advanced rent 351 and security deposits paid by tenant, and income and expense statements for preceding 12 months ( "Lease 352 Information "). If Seller is unable to obtain estoppel letters from tenant(s), the same information shall be furnished by 353 Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenant(s) 354 to confirm such information. If terms of the lease(s) differ materially from Seller's representations, Buyer may deliver 355 written notice to Seller within 5 days after receipt of Lease Information, but no later than 5 days prior to Closing 356 Date, terminating this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all 357 further obligations under this Contract. Seller shall, at Closing, deliver and assign all original leases to Buyer who 358 shall assume Seller's obligation thereunder. 359 E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting; (i) to the absence of any financing 360 statement, claims of lien or potential lienors known to Seller, and (it) that there have been no improvements or repairs 361 to the Real Property for 90 days immediately preceding Closing Date. If the Real Property has been improved or 362 repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all general 363 contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth names of all 364 such general contractors, subcontractors, suppliers and materialmen, further affirming that all charges for 365 improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been paid 366 or will be paid at Closing. 367 F. TIME: Calendar days shall be used in computing time periods. Any time periods provided for in this Contract 368 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U.S.C. 6103) shall extend to 5:00 p.m. 369 (where the Property is located) of the next business day. Time is of the essence In this Contract. 376 G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non - performance of the obligation is delayed, caused or 372 prevented by Force Majeure. °Force Majeure" means: hurricanes, earthquakes, floods, fire, acts of God, unusual 373 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control of 374 Buyer or Seller, and which, by exercise of reasonable diligent effort, the non - performing party is unable in whole or in 375 part to prevent or overcome. All time periods, including Closing Date, will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shalt be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract. 380 H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, 381 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be .transferred by 383 absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this Contract. 384 I. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE: 385 (1) LOCATION: Closing will take place in the county where the Real Property is located at the office of the 386 attomey or other closing agent ( "Closing Agent') designated by the party paying for the owner's policy of title Buyer's Initials � Page 7 of 10 Seller's initials C. i FloridaRealtors/FI. ' ' ar- ASiS -1 Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. 387 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 388 insurance, or, if no title insurance, designated by Seller. Closing may be conducted by mail or electronic means. 389 (ii) CLOSING DOCUMENTS: At Closing, Seller shall furnish and pay for, as applicable, deed, bill of sale, 390 certificate of title, construction lien affidavit, owner's possession affidavit, assignments of leases, and corrective 391 instruments. Seller shall provide Buyer with paid receipts for all work done on the Property pursuant to this Contract 392 Buyer shall furnish and pay for, as applicable, mortgage, mortgage note, security agreement, financing statements, 393 survey, base elevation certification, and other documents required by Buyer's lender. 394 (iii) PROCEDURE: The deed shall be recorded upon COLLECTION of all closing funds. if the Title ass Commitment provides insurance against adverse matters pursuant to Section 627.7841, F S., as amended, the 396 escrow closing procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to 397 COLLECTION of all closing funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to 398 Seller. 399 J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide 40o for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following escrow 401 and closing procedures shall apply: (1) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing, (2) if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer 4o3 shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect (3) if Seller fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, simultaneously with 406 such repayment, Buyer shall return the Personal Property, vacate the Real Property and re- convey the Property to 4o7 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the 406 Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be 4os available to Buyer by virtue of warranties contained in the deed or bill of sale 410 K. PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as of 411 the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes 412 (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents 413 and other expenses of Property. Buyer shall have option of taking over existing policies of Insurance, if assumable, al 414 which event premiums shall be prorated. Cash at Closing shall be Increased or decreased as may be required by 415 prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited to 418 Buyer. Escrow deposits held by Seller's mortgagee will be paid to Seller Taxes shall be prorated based on current 417 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing 418 occurs on a date when current year's millage is not fixed but current year's assessment is available, taxes will be 419 prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then 420 taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1st of 421 year of Closing, which improvements were not in existence on January 1st of prior year, then taxes shall be prorated 422 based upon prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which 423 request shall be made to the County Property Appraiser for an informal assessment taking into account available 424 exemptions. A tax proration based on an estimate shall, at either party's request, be readjusted upon receipt ni 425 current year's tax bill. This STANDARD K shall survive Closing. 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK - THROUGH: Seller 427 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and Inspections 428 including a walk- through (or follow -up walk- through if necessary) prior to Closing 429 M. RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire or other casualty 43o ( "Casualty Loss ") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1.5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract If restoration is not completed as of Closing, a sum equal to 125% of estimated 433 cost to complete restoration (not to exceed 1.5% of Purchase Price), will be escrowed at Closing. If actual cost o 434 restoration exceeds escrowed amount, Seller shall pay such actual costs (but, not in excess of 1.5% of Purchase 435 Price). Any unused portion of escrowed amount shall be returned to Seiler. If cost of restoration exceeds 1 5% of 436 Purchase Price, Buyer shall elect to either take Property as is" together with the 1.5 %, or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract Seller's sole obligation 438 with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. 439 N. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like -kind exchange (either simultaneous with 440 Closing or deferred) under Section 1031 of the internal Revenue Code ( "Exchange "), the other party shall cooperate 441 in all reasonable respects to effectuate the Exchange, Including execution of documents, provided, however, 442 cooperating party shall incur no liability or expense related to the Exchange, and Closing shall not be contingent 443 upon, nor extended or delayed by, such Exchange. 444 O. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract not and 445 notice of it shall be recorded in any public records This Contract shall be binding on, and inure to the benefit of, the 446 parties and their respective heirs or successors m Interest Whenever the context permits, singular shall include plum' Buyer's Initials rage 8 of 10 Seller's Initials w _ __a_ FloridaRealtors /Floc Berr- ASIS -1 Rev, 6/10 © 2010 Florida Realtors® and The Florida Bar All nghts reserved 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONT(NUED) 448 and one gender shall include ail. Notice and delivery given by or to the attorney or broker (including such broker's real aaa estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in ass writing and may be made by mail, personal delivery or electronic (including "pdf") media. A legible facsimile or 451 electronic (including 'pdf") copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original. - 453 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement 4s4 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seller unless Included in this Contract. No modification to or change 456 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. ass Q. WAIVER: Failure of Buyer or Seller to insist on compliance with, or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 460 rights. 461 R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 462 or handwritten provisions shall control all printed provisions of this Contract in conflict with them. 463 S. COLLECTION or COLLECTED: "COLLECTION" or "COLLECTED" means any Checks tendered or received, 4s4 including Deposits, have become actually and finally collected and deposited in the account of Escrow Agent 465 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 466 Closing Agent until such amounts have been COLLECTED In Closing Agent's accounts. 467 T. LOAN COMMITMENT: _ "Loan Commitment' means a statement by the lender setting forth the terms and ass conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. 469 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of 470 Florida and venue for resolution of all disputes, whether by mediation, arbitration or litigation, shall lie in the county in 471 which the Real Property is located. 472 X. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 476 ADDENDA AND ADDITIONAL TERMS 477 19. ADDENDA: The following additional terms are included in the attached addenda and incorporated into this 47a• Contract (Check if applicable): ❑ A. Condominium Assn. ❑ L. RESERVED ❑ R. Rezoning ❑ Y. Seller's Attorney ❑ B. Homeowners' Assn. ❑ S. Lease Purchase/ Approval ❑ C. Seller Financing ❑ M. Defective Drywall Lease Option ❑ Z. Buyer's Attorney ❑ D. Mortgage Assumption ❑ N. Coastal Construction ❑ T. Pre - Closing Approval ❑ E. FHANA Financing Control Line Occupancy ❑AA. Licensee - Personal ❑ F. Appraisal Contingency ❑ O. Insulation Disclosure ❑ U. Post - Closing Interest in Property ❑ G. Short Sale ® P. Pre -1978 Housing Occupancy ❑ BB. Binding Arbitration ❑ H. Homeowners' Insurance Statement (Lead ❑ V. Sale of Buyer's 0 Other ❑ I. FIRPTA Based Paint) Property ❑ J. Interest - Bearing Acct. ❑ Q. Housing for Older ❑ W. Back -up Contract ❑ K RESERVED Persons ❑ X. Kick -out Clause 479 20. ADDITIONAL TERMS: Seller will provide a zero Interest 2 second mortgage to buyer in a an amount and teen aso• to be determined. 481 482 Seller is construction a new 4/bedroomsl2bathsl1car garage home described as Model B-4 (Sheet 3) as selected by 483• buyer 484' 485' 486' 487' 488' 489• 490' 491' 492' 493 Buyer's Inrtlals ? Page 9 of 10 Seller's Initials C... FloridaRealtors/Flond ASIS -1 Rev. 6/1 0 0 2010 Florida Realtors® and The Florida Bar. All rights reserved. 1 494 COUNTER - OFFER/REJECTION 495* ❑ Seller counters Buyer's offer (to accept the counter - offer, Buyer must sign or initial the counter- offered terms and 496 deliver a copy of the acceptance to Seller). 49r ❑ Seller rejects Buyer's offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING, 500 THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. sot Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction Terms and conditions 503 should be negotiated based upon the respective Interests, objectives and bargaining positions of all interested 504 persons 505 AN ASTERISK ( *) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 506 BE COMPLETED n//��//�� q . !3 .20) 2 507' Buyer: r���A., Date: sow Buyer: Date 509• Selier: Da ,. _ 510• Seiler: Date. 511 Buyer's address for purposes of notice Seller's address for purposes of notice 512' 513• 514* 515 BROKER: Listing and Cooperating Brokers, If any, named below (collectively, *Broker"), are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent Seiler and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 518 agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has 519 retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation 520 made by Seller or Listing Broker to Cooperating Brokers. 521' N/A N/A .__ 522 Cooperating Sales Associate, if any Listing Sales Associate 523' _._., _ 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FloridaRealtors /FloridaBar- ASIS -1 Rev 6110 © 2010 Florida Realtors® and The Florida Bar AS rights reserved 1 .e—L.,' -1.w ,&AV Oi,. w _._. r< -•''W. .. -CS ..:Y` 'Je3 z . .. .f .-- .. ... _ Jessica L. Jones 306 3100SDbdeH�� Apt G75 Boca Ratan, FI. Dine Pay to the L t 1015 I .. .... '1 P a_ $1,060,3b . .. 1 1 111.'. / Al k 4 Dollars in - J M ASSOCIATES ' dijil FEDERAL CREDIT UNI ifr � 4. 111 B •: HIND. V:.: . I: , BBAm 33331 For f 1 1 S A A It tiL li AP 1 : 2630898001: 18 ? 6507 0 1 30 6 I I 1 I "AS 1S" Residential Contract For Sale And Purchase FloridaRealtors' THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR � 1 r r PARTIES: BOYNTON BEACH FAiTH BASED COMMUNITY DEVELOPMENT CORP. ("Sew, 2• and LAWRENCE SHULER & CHUNDRA SHULER A MARRIED COUPLE ('Bu Yery. 3 agree that Seller shall sell and Buyer sisal buy the following described Real Property and Personal 4 Property (collectively ' Property') pursuant to the terms and conditions of this AS IS Residential Contract For Sale 6 And Purchase and any riders and addenda ("Contract): e 1. PROPERTY•DESCRIPTION: r (a) Street address, city, zip: XXX OCEAN BREEZE CIR, BOYNTON BEACH FL 33435 r (b) Property is located in: PALM BEACH County, Florida. Real Property Tax ID No: 08434521380000160 e• (c) Legal description of the Real Property: LOT 16 OF OCEAN BREEZE WEST, according to the plat thereof, to• as recorded In Plat Book 114, Pages 23-24 of the Public Records of Palm Beach County, Florida 11 together with all existing improvements and futures, including built - in appliances, buOt - in furnishings and 12 attachpd wall-to-wall carpeting and flooring ("Real Property') unless specifically excluded below. 13 (d) Personal Property: The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are included In the purchase ("Personal Property'): (I) range(s)/oven(s), dishwasher(s), 16 disposal, ceiling fan(s), intercom, light fbdures, rods, draperies and other window treatments, garage door 16 openers, and security gate and other access devices; and (t) those additional items checked below. If 17' additional details are necessary, specify below. If left blank, the Item below is not Included: Refrigerator(s) Smoke detector(s) Pool barrier/fence Storage shed Microwave oven Security system Pool equipment TV antenna/satellite dish Washer IMndow/wall a/c Pool heater Water softener/puritier Dryer Generator Spa or hot tub with heater Storm shutters and Stand -alone ice maker Above ground pool panels 18 The only other items of Personal Property included In this purchase, and any additional details regarding '9• Personal Property, If necessary, are: NONE 20• °. Personal Property is included In the Purchase Price, has no contributory value, and shall be left for the Buyer. (e) The following Items are excluded from the purchase: ' 23' 24 2. PURCHASE PRICE (U.S. currency)• $ 140. 000.00 2s' (a) initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ 1,000.00 28 The Initial deposit made payable and delivered to 'Escrow Agent" named below 27' (CHECK ONE); ►y. accompanies offer or ❑ is to be made upon acceptance (Effective Date) 28' or ❑ is to be made within (if blank, then 3) days after Effective Date 29• Escrow Agent Information: Name: — reads, Longman & Walker, P.A. 30• Address: 516 N Flagler Dr. Suite 1600 WPF, FL 33401 phone: 661440 31• E - mail: Fax: 561440 - 0802 32' (b) Additional deposit to be delivered to Escrow Agent within 60 (if blank, then 3) 33• days after Effective Date $ 3,900.0Q 34 (All deposits paid or agreed to be paid, are collectively referred to as the 'Deposit ") 35• (c) Financing: Express as a dollar amount or percentage ('Loan Amount ") see Paragraph 8 ss• (ki) Other. $ 37 (e) Balance to close (not including Buyer's closing costs, prepaids and proration) by wire 38• transfer or other COLLECTED funds $ 135,100.00 3 NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARD S. 40 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER -OFFERS; EFFECTIVE DATE: 41. (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 9/13/2012 42• , this offer shall be deemed withdrawn and the Deposit, If any will be retumed to Buyer. 43 Unless otherwise stated, time for acceptance of any counter- offers shall be within 2 days after the day the 44 counter -offer Is delivered. as (b) The effective date of this Contract will be the date when the last one of the Buyer and Seiler has signed or 48 initialed this offer or final counter -offer ( "Effective Date "). 7 4. CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this transaction shall occur 8 and the dosing docume s required to be furnished by each party pursuant to this Contract shall be delivered ( "Closing ") on On or afore 1/30/2013 ( "Closing Date "), at the time established by the Closing Agent. Buyer's imitate J Page 1 of 10 Seller's Initials ( eS FlorldaReadtews/FloddaBar- AStS -1 Rev. 6/10 0 2010 Florida Rooftree and The Florida Bar. An rights reserved. so 5. EXTENSION OF CLOSING DATE: 51 (a) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In Lending Act (TILA) 52 notice requirements, Closing shad be extended for such period necessary to satisfy TILA notice requirements, 53 not to exceed 7 days. 54 (b) If extreme weather or other condition or event constituting "Force Majeure" (see STANDARD G) causes; 55 (1) disruption of utilities or other services essential for Closing, or (ii) Hazard, Wind, Flood or Homeowners' 56 insurance, to become unavailable prior to Closing, Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard, Wind, 58 Flood or Homeowners' insurance. If restoration of such utilities or services and availability of insurance has not 59• occurred within (If left blank, 14) days after Closing Date, then either party may terminate this 60 Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract. 62 6. OCCUPANCY AND POSSESSION: Unless otherwise stated herein, Seller shall at Closing, have removed all 63 personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, 64 garage door openers, access devices and codes, as applicable, to Buyer. If Property is Intended to be rented or 65 occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant 66 to STANDARD D. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from 67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy. 6s• 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from any further liability 70• under this Contract; ❑ may assign but not be released from liability under this Contract; or ® may not assign 71 this Contract. 72 FINANCING 73 8. FINANCING: 74• ❑ (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing 75 contingency to Buyer's obligation to close. 7s• ❑ (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a © conventional © FHA 77' ❑ VA loan on the following terms within 60 (if blank, then 30) days after Effective Date ( "Loan 78' Commitment Date') for: (CHECK ONE): X❑ fixed, ❑ adjustable, ❑ fixed or adjustable rate loan in 15' the principal amount of $ 115.000.00 or % of the Purchase Price, at an initial interest rate 80• not to exceed % (if blank, then prevailing rate based upon Buyer's creditworthiness), and for a 81• term of years ( "Financing "). 82' Buyer will make mortgage loan application for the Financing within 30 (if blank, then 5) days after 83 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing 84 ( "Loan Commitment') and close this Contract. Buyer shall keep Seller and Broker fully informed about 85 the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and B6 Buyer's lender to disclose such status and progress to Seller and Broker. 87 If Buyer does not receive Loan Commitment, then Buyer may terminate this Contract by delivering written BB notice to Seller, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all 89 further obligations under this Contract. so If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of 91 this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations under this Contract. 94 If Buyer delivers written notice of receipt of Loan Commitment to Seller and thls Contract does not 95 thereafter close, the Deposit shall be paid to Seller unless failure to close is due to: (1) Seller's default; 96 (2) Property related conditions of the Loan Commitment have not been met (except when such conditions 97 are waived by other provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is 98 insufficient to meet terms of the Loan Commitment; or (4) the loan is not funded due to financial failure of ss Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seller 100 from all further obligations under this Contract. 101• ❑ (c) Assumption of existing mortgage (see rider for term 102' ❑ (d) Purchase money note and mortgage to Seller (see riders; addenda: or special clauses for terms) Buyer's Initials (.S Page 2 of 10 Seller's Initials e, ___ FloridaRealtors /FloridaBar- ASIS -1 Rev. /1 ® 2010 Florida Realtors® and The Florida Bar All rights reserved 103 CLOSING COSTS, FEES AND CHARGES 1o4 9. CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 105• (a) COSTS TO BE PAID BY SELLER: • Documentary stamp taxes and surtax on deed, if any • HOA/Condominlum Association estoppel fees • Owner's Policy and Charges (if Paragraph 9(c)(i) is checked) • Recording and other fees needed to cure title • Title search charges (If Paragraph 9(c)(111) is checked) • Seller's attomeys' fees • Other: 106 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 108 Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 1o9 pay such actual costs. Any unused portion of escrowed amount shall be retumed to Seller. 110• (b) COSTS TO BE PAID BY BUYER: • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) • Buyer's inspections • Survey (and elevation certification, if required) • Buyer's attomeys' fees • Lender's title policy and endorsements • All property related insurance • HOA/Condominium Assodation application/transfer fees • Other: 111• (c) TITLE EVIDENCE AND INSURANCE: At least ('d blank, then 5) days prior to Closing Date, a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ( - Title Commitment") and, after Closing, an owner's policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title 115 insurance covering the Real Property, a copy shall be fumished to Buyer and Closing Agent within 5 days after 116 Effective Date. The owner's title policy premium and charges for owner's policy endorsements, title search, 117 and closing services (collectively, "Owner's Policy and Charges ") shall be paid, as set forth below 118 )CHECK ONE): 119' (i) Seller will designate Closing Agent and pay for Owner's Policy and Charges (but not including charges 120 for dosing services related to Buyer's lender's policy and endorsements and loan closing, which amounts 121 shall be paid by Buyer to Closing Agent or such other provider(s) as Buyer may select); or 122 0 (k) Buyer will designate Closing Agent and pay for Owner's Policy and Charges and charges for closing 123 services related to Buyer's lender's policy, endorsements, and loan closing; or 124' ❑ (iii) [MIAMI- DADE/BROWARD REGIONAL PROVISION]: Seller will furnish a copy of a prior owner's policy 125 of title insurance or other evidence of title and pay fees for. (A) a continuation or update of such title evidence, 126 which is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; and 127 (C) municipal lien search. Buyer shall obtain and pay for post - Closing continuation and premium for Buyer's 128 owner's policy, and if applicable, Buyer's lender's policy. Seiler shall not be obligated to pay more than 129' $ (if blank, $200.00) for abstract continuation or title search ordered or performed by Closing 130 Agent. 131 (d) SURVEY: At least 5 days prior to Closing, Buyer may, at Buyer's expense, have the Real Property surveyed 132 and certified by a registered Florida surveyor ("Survey"). If Seller has a survey covering the Real Property, a 133 copy shall be fumished to Buyer and Closing Agent within 5 days after Effective Date. 134• (e) HOME WARRANTY: At Closing, ❑ Buyer 011 Seller ® N/A will pay for a home warranty plan issued by 135' at a cost not to exceed $ . A home 136 warranty plan provides for repair or replacement of many of a home's mechanical systems and major built -in 137 appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period. i38 (f) SPECIAL ASSESSMENTS: At Closing, Seller will pay: (i) the full amount of liens imposed by a public body 139 ( "public body" does not include a Condominium or Homeowner's Association) that are certified, confirmed and 140 ratified before Closing; and (1) the amount of the public body's most recent estimate or assessment for an 141 improvement which is substantially complete as of Effective Date, but that has not resulted in a lien being 142 imposed on the Property before Closing. Buyer will pay all other assessments. If special assessments may 143 be paid in installments (CHECK ONE): 144• ® (a) Seiler shall pay installments due prior to Closing and Buyer shall pay installments due after 145 Closing. installments prepaid or due for the year of Closing shall be prorated. 146• ❑ (b) Seller shall pay the assessment(s) in full prior to or at the time of Closing. 147 IF NEITHER BOX IS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. 148 This Paragraph 9(1) shall not apply to a special benefit tax lien imposed by a community development district 149 (CDD) pursuant to Chapter 190 F.S. which lien shall be treated as an ad valorem tax and prorated pursuant to 150 STANDARD K. Buyer' s h itials 1 - 4 Page 3 of 10 Sellers Initials e. FloridaR,attors!FbridaBar- AStS -1 Rev. 10O 2010 Florida Realtors/Po and The Florida Bar. All rights reserved. 151 DISCLOSURES 152 10. DISCLOSURES: 153 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding 156 radon and radon testing may be obtained from your county health department. 157 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, 158 Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed. 160 (c) MOLD: Mold Is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or 161 desires additional information regarding mold, Buyer should contact an appropriate professional. 162 (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood 163 zone the Property Is in, whether flood insurance is required by Buyer's lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area 165 or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days after Effective Date, failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property. 168 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy - Efficiency Rating Information Brochure 169 required by Section 553.996, F.S. 170 (f) LEAD -BASED PAINT: If Property includes pre -1978 residential housing, a lead -based paint nder is 171 mandatory. 172 (9) HOMEOWNERS' ASSOCIATION /COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' 174 ASSOCIATION /COMMUNITY DISCLOSURE, IF APPLICABLE. 175 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURREN1 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE 180 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 181 (i) TAX WITHHOLDING: If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act ("FIRPTA "), Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at Closing. 184 (j) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in the preceding sentence 186 or otherwise disclosed in writing: (1) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building, environmental or safety code violation; and (2) Seller 188 extends and intends no warranty and makes no representation of any type, either express or implied, as to the 189 physical condition or history of the Property 190 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS 191 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the 192 Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement "). 194 12. PROPERTY INSPECTION; RIGHT TO CANCEL: 195' (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 10 (if blank, 15) days from 196 Effective Date (`Inspection Period ") within which to have such inspections of the Property performed 197 as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract; however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such inspections, and shall provide Seller with paid receipts for all work done on the 204 Property (the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmental, and safety codes, restrktlons, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender (2....e_ Buyer's Initials Les. C_) J Page 4 of 10 Seller's Initials - FloridaRealtorslFlorldaBar- ASIS -1 Rev. 6/10 © 2010 Fonda Realtors® and The Florida Bar All rights reserved 209 (b) WALK- THROUGH iNSPECTIONiRE- INSPECTION: On the day prior to Closing Date, or on Closing Date prior 210 to time of Closing, as specified by Buyer, Buyer or Buyer's representative may perform a walk- through (and 211 follow -up walk - through, if necessary) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations. 214 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE -OUT OF BUILDING PERMITS: If Buyer's 215 inspection of the Property identifies open or needed building permits, then Seiler shall promptly deliver to 216 Buyer all plans, written documentation or other information in Seller's possession, knowledge, or control 217 relating to improvements to the Property which are the subject of such open or needed Permits, and shall 218 promptly cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues. Seller's obligation to cooperate shall include Setter's execution of necessary 220 authorizations, consents, or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared, but in fulfilling such obligation, Seller shall not be required to expend, or 222 become obligated to expend, any money. 223 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and 224 cost, Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer. 226 ESCROW AGENT AND BROKER 227 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively 'Agent") receiving the Deposit, other funds 228 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 229 within the State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions 230 of this Contract. Failure of funds to become COLLECTED shall not excuse Buyer's performance. When conflicting 231 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 232 may take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent's duties 233 or liabilities under this Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow 234 until the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shall 235 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 236 of the dispute. An attorney who represents a party and also acts as Agent may represent such party in such 237 action. Upon notifying all parties concemed of such action, alt liability on the part of Agent shall fully terminate, 238 except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate 239 broker, Agent will comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve 240 escrow disputes through mediation, arbitration, interpleader or an escrow disbursement order. 241 Any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, 242 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable 243 attomey's fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person for mis- delivery of any escrowed items, unless such mis- delivery is 245 due to Agent's willful breach of this Contract or Agent's gross negligence. This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition, 248 square footage, and all other facts and representations made pursuant to this Contract and to consult appropriate 249 professionals for legal, tax, environmental, and other specialized advice conceming matters affecting the Property 250 and the transaction contemplated by this Contract. Broker represents to Buyer that Broker does not reside on the 251 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or 252 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (individually, the "Indemnifying Party') each 256 individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and 257 employees from all liability for loss or damage, including all costs and expenses, and reasonable attorney's fees 258 at all levels, suffered or incurred by Broker and Broker's officers, directors, agents and employees in connection 259 with or arising from claims, demands or causes of action instituted by Buyer or Seller based on: (t) inaccuracy of 260 information provided by the indemnifying Party or from public records; (ii) Indemnifying Party's misstatement(s) or 281 failure to perform contractual obligations; (111) Broker's performance, at Indemnifying Party's request, of any task 262 beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral, 263 recommendation or retention of any vendor for, or on behalf of, Indemnifying Party; (iv) products or services 264 provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any such 265 vendor. Buyer and Seller each assumes full responsibility for selecting and compensating their respective vendors 266 and paying their other costs under this Contract whether or not this transaction closes. This Paragraph 14 will not 267 relieve Broker of statutory obligations under Chapter 475, F.S., as amended. For purposes of this Paragraph 14, Buyer's Initials ( . ! _ Page 5 of 10 Seller's Initials FloridaReaftors/FioridaBar ASIS -1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved. 268 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 15. DEFAULT: 272 (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer's obligations under this Contract, 273 including payment of the Deposit, within the time(s) specified, Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this 275 Contract, and in full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further 275 obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity 277 to enforce Seder's rights under this Contract. The portion of the Deposit, if any, paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker; provided however, 279 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's title marketable after 282 reasonable diligent effort, Seller fails, neglects or refuses to perform Seller's obligations under this Contract, 283 Buyer may elect to receive return of Buyer's Deposit without thereby waiving any action for damages resulting 284 from Seller's breach, and, pursuant to Paragraph 16, may seek to recover such damages or seek specific 285 performance. This Paragraph 15 shall survive Closing or termination of this Contract. 286 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and 287 Seller arising out of, or relating to, this Contract or its breach, enforcement or interpretation ( "Dispute ") will be 288 settled as follows: 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute, failing which, Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16(b). 292 (b) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court- Appointed Mediators and Chapter 44, F,S., as amended (the "Mediation Rules ") 294 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 295 sought without first complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter This Paragraph 16 297 shall survive Closing or termination of this Contract. 298 17. ATTORNEY'S FEES; COSTS: The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs, expenses and fees, including attomey's fees, incurred in 300 conducting the mediation. in any litigation permitted by this Contract, the prevailing party shall be entitled to 301 recover from the non - prevailing party costs and fees, including reasonable attomey's fees, incurred in conducting 302 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract. 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ( "STANDARDS ") 304 18. STANDARDS: 305 A. TITLE: 306 (1) TITLE EVIDENCE; RESTRICTIONS; EASEMENTS; LIMITATIONS: Within the time period provided in 3o7 Paragraph 9(c), the Title Commitment, with legible copies of instruments listed as exceptions attached thereto, shall 308 be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner's policy of title insurance in the 310 amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property, 311 subject only to the following matters: (a) comprehensive land use plans, zoning, and other land use restrictions, 312 prohibitions and requirements imposed by governmental authority; (b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision; (c) outstanding oil, gas and mineral rights of record without right of entry; 314 (d) unplatted public utility easements of record (located contiguous to real property lines and not more than 10 feet in 315 width as to rear or front lines and 7 1/2 feet in width as to side lines); (e) taxes for year of Closing and subsequent 316 years; and (f) assumed mortgages and purchase money mortgages, if any (if additional items, attach addendum), 317 provided, that none prevent use of the Property for RESIDENTIAL PURPOSES. if there exists at Closing any 318 violation of items identified in (b) - (f) above, then the same shad be deemed a title defect. Marketable title shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with 320 law. 321 (ii) TITLE EXAMINATION: Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days ( "Cure Period ") 325 after receipt of Buyer's notice to take reasonable diligent efforts to remove defects. If Buyer falls to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is if Seiler cures defects within Cure Period Seller wiii Buyer's In itials L - 5. Page 6 of 10 Seller's Initials _ __ ___ __ FloridaRealtors /FlorldaBar- ASIS -1 Rev 0 t) 2010 Florida Realtors® and The Florida Bar All rights reserved 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attomey) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt of Seller's 330 notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after expiration of 331 Cure Period, deliver written notice to Seller. (a) extending Cure Period for a specified period not to exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects ('Extended Cure 333 Period"); or (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed, within the earlier of 10 days after end of Extended Cure Period or Buyer's receipt of Seller's notice), or 335 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from sae all further obligations under this Contract. If after reasonable diligent effort, Seiler is unable to timely cure defects, 337 and Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 33s B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon so encroach on setback lines, easements, or lands of others; or violate any restrictions, covenants, or applicable 341 governmental regulations described in STANDARD A (I)(a), (b) or (d) above, Buyer shall deliver written notice of such 342 matters, together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later than 343 Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect, subject to cure obligations of STANDARD A above. if Seller has delivered a prior 345 survey, Seiler shall, at Buyer's request, execute an affidavit of 'no change' to the Real Property since the 346 preparation of such prior survey, to the extent the affirmations therein are true and correct. 347 C. INGRESS AND EGRESS: Seller represents that there is ingress and egress to the Real Property and title to 348 the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access. 349 D. LEASES: Seller shall, within 5 days after Inspection Period, fumish to Buyer copies of all written leases and 350 estoppel letters from each tenant specifying nature and duration of tenant's occupancy, rental rates, advanced rent 351 and security deposits paid by tenant, and income and expense statements for preceding 12 months {"Lease 352 Information'). If Seller is unable to obtain estoppel letters from tenant(s), the same information shall be fumished by 353 Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenant(s) 354 to confirm such information. If terms of the lease(s) differ materially from Seller's representations, Buyer may deliver 355 written notice to Seller within 5 days after receipt of Lease Information, but no later than 5 days prior to Closing 356 Date, terminating this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all 357 further obligations under this Contract. Seller shall, at Closing, deliver and assign all original leases to Buyer who 358 shall assume Seller's obligation thereunder. 359 E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting; (1) to the absence of any financing 360 statement, claims of lien or potential Iienors known to Seller, and (ii) that there have been no improvements or repairs 361 to the Real Property for 90 days immediately preceding Closing Date. If the Real Property has been improved or 362 repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all general 363 contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth names of all au such general contractors, subcontractors, suppliers and materialmen, further affirming that all charges for 365 improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been pald 366 or will be paid at Closing. 367 F. TiME: Calendar days shall be used in computing time periods. Any time periods provided for in this Contract 388 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U.S.C. 6103) shall extend to 5:00 p.m. 36s (where the Property Is located) of the next business day. Time Is of the essence in this Contract. 37o G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non- performance of the obligation is delayed, caused or 372 prevented by Force Majeure. "Force Majeure' means: hurricanes, earthquakes, floods, fire, acts of God, unusual 373 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control of 374 Buyer or Seller, and which, by exercise of reasonable diligent effort, the non - performing party is unable in whole or in 375 part to prevent or overcome. All time periods, including Closing Date, will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate this 376 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract. no H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, 381 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this Contract. 384 1. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE: 385 (1) LOCATION: Closing will take place in the county where the Real Property is located at the office of the 386 attorney or other closing agent ("Closing Agent") designated by the party paying for the owner's policy of title Buyer's Init L 4 0) Page 7 of 10 Seller's Initials et FloridaRealtors /FloridaBar- ASIS -1 Rev. 6 /10 ® 2010 Florida Realtors& and The Florida Bar. All rights reserved. 387 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 388 insurance, or, if no title insurance, designated by Seller. Closing may be conducted by mail or electronic means. 389 (ii) CLOSING DOCUMENTS: At Closing, Seller shall furnish and pay for, ' as applicable, deed, bill of sale, 390 certificate of title, construction lien affidavit, owner's possession affidavit, assignments of leases, and corrective 391 instruments. Seller shall provide Buyer with paid receipts for all work done on the Property pursuant to this Contract. 392 Buyer shall furnish and pay for, as applicable, mortgage, mortgage note, security agreement, financing statements, 393 survey, base elevation certification, and other documents required by Buyer's lender. 394 (111) PROCEDURE: The deed shall be recorded upon COLLECTION of all dosing funds. If the Title 395 Commitment provides insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the 396 escrow closing procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to 397 COLLECTION of all closing funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to 398 Seller. 399 J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide 400 for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following escrow 401 and closing procedures shall apply: (1) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing; (2) if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer 403 shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; (3) if Seller fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, simultaneously with 406 such repayment, Buyer shall retum the Personal Property, vacate the Real Property and re- convey the Property to 407 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the 408 Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be 400 available to Buyer by virtue of warranties contained in the deed or bill of sale. 410 K. PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as of 411 the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes 412 (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents 413 and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if assumable, in 414 which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by 415 prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited to 416 Buyer. Escrow deposits held by Seller's mortgagee will be paid to Seller. Taxes shall be prorated based on current 417 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing 418 occurs on a date when current year's millage is not fixed but current year's assessment is available, taxes will be 419 prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then 420 taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1st of 421 year of Closing, which improvements were not in existence on January 1st of prior year, then taxes shall be prorated 422 based upon prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, 423 request shall be made to the County Property Appraiser for an informal assessment taking into account available 424 exemptions. A tax proration based on an estimate shall, at either party's request, be readjusted upon receipt of 425 current year's tax bill. This STANDARD K shall survive Closing. 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK - THROUGH: Seller 427 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, 428 including a walk- through (or follow -up walk- through if necessary) prior to Closing. 429 M. RISK OF LOSS: lf, after Effective Date, but before Closing, Property is damaged by fire or other casuatty 430 ( "Casualty Loss") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1.5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing, a sum equal to 125% of estimated 433 cost to complete restoration (not to exceed 1.5% of Purchase Price), will be escrowed at Closing. If actual cost of 434 restoration exceeds escrowed amount, Seller shall pay such actual costs (but, not in excess of 1.5% of Purchase 435 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1.5% of 436 Purchase Price, Buyer shall elect to either take Property as is together with the 1.5 %, or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation 438 with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. 439 N. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like -kind exchange (either simultaneous with 440 Closing or deferred) under Section 1031 of the Internal Revenue Code ( "Exchange "), the other party shall cooperate 441 in all reasonable respects to effectuate the Exchange, including execution of documents; provided, however, 442 cooperating party shall incur no liability or expense related to the Exchange, and Closing shall not be contingent 443 upon, nor extended or delayed by, such Exchange. 444 O. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any 445 notice of it shall be recorded in any public records, This Contract shall be binding on, and inure to the benefit of, the 446 parties and their respective heirs or successors in interest Whenever the context permits, singular shall include plural L Buyer's Initials L. ,! y' Page 8 of 10 Seller's Initials �i� FloridaRea ltors/FloridaBar- ASIS -1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar All rights reserved. 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 44e and one gender shall include all. Notice and delivery given by or to the attorney or broker (including such broker's real estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in writing and may be made by mail, personal delivery or electronic (including 'pdt') media. A legible facsimile or 451 electronic (Including'pdf") copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original. 453 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement 454 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seller unless included In this Contract No modification to or change 456 in this Contract shall be valid or binding upon Buyer or Seiler unless in writing and executed by the parties intended 457 to be bound by 458 Q. WAIVER: Failure of Buyer or Seller to Insist on compliance with, or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 4ea rights. 461 R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 462 or handwritten provisions shall control all printed provisions of this Contract in conflict with them. 463 S. COLLECTION or COLLECTED: "COLLECTION" or "COLLECTED" means any checks tendered or received, 464 including Deposits, have become actually and finally collected and deposited In the account of Escrow Agent 485 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 466 Closing Agent until such amounts have been COLLECTED in Closing Agent's accounts. 467 T. LOAN COMMITMENT: "Loan Commitment means a statement by the lender setting forth the terms and ass conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. 469 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of 470 Florida and venue for resolution of all disputes. whether by mediation, arbitration or litigation, shall lie In the county in 471 which the Real Property is located. 472 X. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. ' ADDENDA AND ADDITIONAL TERMS ' 19. ADDENDA: The following additional terms are included in the attached addenda and incorporated into this 478• Contract (Check if applicable): ❑ A. Condominium Assn. ❑ L. RESERVED ❑ R. Rezoning ❑ Y. Seller's Attomey ❑ B. Homeowners' Assn. ❑ S. Lease Purchase/ Approval ❑ C. Seiler Financing ❑ M. Defective Drywall Lease Option ❑ Z. Buyer's Attorney ❑ D. Mortgage Assumption ❑ N. Coastal Construction ❑ T. Pre - Closing Approval ❑ E. FHANA Financing Control Line Occupancy ❑ AA. Licensee - Personal ❑ F. Appraisal Contingency ❑ O. Insulation Disclosure ❑ U. Post-Closing interest in Property ❑ G. Short Sale ❑ P. Pre -1978 Housing Occupancy ❑ BB. Binding Arbitration ❑ H. Homeowners' Insurance Statement (Lead ❑ V. Sale of Buyer's ❑ Other ❑ I. FIRPTA Based Paint) Property ❑ J. Interest - Bearing Acct. ❑ Q. Housing for Older ❑ W.Back -up Contract ❑ K. RESERVED Persons ❑ X. Kick -out Clause 479* 20. ADDITIONAL TERMS: Seller will provide a zero Interest second mortgage to buyers in an amount and term to aao• be determined prior to closing 481• aar Seiler is constructing a new 3 bedrooms/2 baths /1 car garage home described as "Model A" as selected by buyers 483' 484' 485• 486' 487' 488' 489• 490• 491* 492' Buyers Initials L. S Page 9 of 10 Seller's initials C1 _ Flo ridaRealtors /FloridaBar- ASIS -1 Rev. 6110 42 2010 Florida Realtorst& and The Florida Bar. All rights reserved. 494 COUNTER -OFFER /REJECTION 495• ❑ Seller counters Buyer's offer (to accept the counter -offer, Buyer must sign or initial the counter - offered terms and 496 deliver a copy of the acceptance to Seller). 497. ❑ Seller rejects Buyer's offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING. 500 THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. 505 AN ASTERISK ( *) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 506 BE COMPLETED n y 507' Buyer: Date: Q sow Buyer. _ Date: 5'- ` ` Z •i L ` r * IS -� a a1g- sow' Seller: ......s..._ _._..____._ ^_ ______ _� Date: sio' Seller. Date: 511 Buyer's address for purposes of notice Seller's address for purposes of notice 512' 513' 514' 515 BROKER: Listing and Cooperating Brokers, if any, named below (collectively, "Broker"), are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 518 agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has 51s retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation 520 made by Seller or Listing Broker to Cooperating Brokers. 521' N/A NIA 522 Cooperating Sales Associate, if any Listing Sales Associate 523' 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FlondaRealtors/FloridaBar- ASIS -1 Rev 6110 © 2010 Florida Realtors® and The Florida Bar. All nghts reserved :s w.t i �! - . ,rg • 1 ♦'�. — J 1 a 'C , "r ri r 476 .1 ..r; . 4. s rt ,i r S • • M wF 1 f r ,,;, 3�t f >r 7 * fi r . C i i k .,� l .1, C.yY „ � , y • illi I, �t M '^` c • I316,' i u III ,i � { 1 :', " i . � h - yr 7 ; . 5 ' I iii ;;; I - � r . r 1l I i+' l K^ I- � t '} I I } rl WFr l;�f � Al I� I � I t _ l • • �I l x .,: p it?{ I rr I I , C' S Y •- -1 • Y • • { • 11 �4 ' BOYNTON BEACH :CRA CRA BOARD MEETING OF: November 13, 2012 Consent Agenda 1 I Old Business I 1 New Business 1 X 1 Public Hearing I 1 Other SUBJECT: Consideration of the approval of a Sidewalk Cafe Permit for the Little House located at 480 E. Ocean Avenue. SUMMARY: The City of Boynton Beach Land Development Regulations (LDR) requires a Sidewalk Cafe Permit be issued in order for a business to operate outdoor dining abutting any sidewalk or when the outdoor seating will use the public right -of -way. The code also limits the location of "sidewalk cafes" to the boundaries of the Community Redevelopment Area subject to any limitations of the particular zoning district. Because the sidewalk cafe application is within the CRA boundaries, the application requires the CRA Board to provide the Development Services Department with a recommendation of support prior to the application going before the City Commission for final approval and issuance. Chrissy Benoit, owner of the Little House Restaurant located at 480 E. Ocean Avenue, has submitted a sidewalk cafe permit application to the City of Boynton Beach Department of Development Services for approval of 4 tables with 4 seats each for a total of 16 outdoor dining seats. The application documents have been reviewed by Ed Breese, Principle Planner, as well as CRA staff for compliance under the ordinance. FISCAL IMPACT: None RECOMMENDATIONS: CRA Board forward a recommendation of approval to the City Commission for final action regarding the Sidewalk Cafe Permit application as submitted by the Little House located at 480 E. Ocean Avenue. Michael Simon, Development Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings\November 2012 \Sidewalk Cafe Permit -Little House doc CITY OF BOYNTON BEACH ,« ` ^»plscation^^^" = Oa~ ~~"^^ ^ ' W"bS~ ������UN����Z0N�G����SN0N ` ��u��'^=^�`� `^��.��"�nnw�"m�^�� 100 East Boynton Beach Boulevard ' '' Boynton Beach, FL 33435 Phone: (561) 742-6260 SIDEWALK CAFE APPLICATION GENERAL INFORMATION: This application must be filled out completely, accurately uue submitted as an on i | to the P]anning and Zoning Division an incomplete application will not be processed Print legibly (in ink) or type all information In addition to 1bemngumo]. provide a copy of the completed application as part of the submittal. and pay the applicable fee as adopted b) the City Commission This process is further described in Chapter 2. Article 11 Section (5 D of the Land Development Regulations /` . . � A. NAME: '/ ��' ' '^ --_ '--_-- __ _ _-_— ----- B SIDEWALK CAFE INFORMATION' 1 Restaurant Information' ^ Pursuant to Chapier l Article ' Section » ^/ thc izno Development Regulations, ^ sidewalk cafe ^ ,n/% allowed m connection with a legally operating osmwux' or nightclub establishment located within the hounuoor^ of the Community Redevelopment Agency xxA,are, a Name / ' � ' ^ � -_ __--_--- _ _'.-- -- -"/ . ^ b Address ' ` 2 Number of Proposed Chairs __'_ - __--- 3 Which of the foHowing best describes tre proposeo reques> New construction' ' Restaurant Building ' I/ new ,onva:uon, thcupphoao/ shall be requ'rext in comrm' ' *x plan application :nu sum', concur/ono `,th this request for sidewalk cafe opppv; 4 Existing Land Use Classification (from Fudure Land Use Map). ______ 5 Existing Zoning District (frorn Ofticial Zoning Map) _ __' C APPi|CAN7 /NF Name ' __'__--_- -- -- — - - GonnponyNmnxe /�. . '� (�- _ 2 Address ����_- � � �__ ________ State �o�uoe City ' --_ --- ------- / ' ------ Phone - ^ ' t7.7o`ati ' '/)''� `�/// '� )/6 D. PROPERTY OWNER INFORMATION: /� /� 1 Name of Property Owner (Trustee): C' 1\ �° 2. Owner Address: hi ) to I ( -A-y City: / (f 7Y1 L State: 7 / ' Zip Code: 33 Phone: 73 1 Email: tA 40h1C1[.f I ,A E. CERTIFICATION: (I) (We) understand that this application and all papers and plans submitted herewith become part of the permanent records of the Planning and Zoning Division. (I) (We) hereby certify that the above statements or showings in any papers or plans submitted herewith are true to the best of (tny) (our) knowledge and belief. This application will not be accepted unless signed according to the instructions below. )2,p) c a . { a Signature of wner(s) or Trustee, of Date authorized principal if property is owned by a corporation or other business entity. OR Signature of contract purchaser (if applicant) Date II. MANDATORY DOCUMENTS: Unless otherwise specified below, the applicant shall be required to submit to the Planning and Zoning Division, the non - refundable $40 application fee and each of the following: A. CONSENT: The applicant shall have written consent from the property owner(s) to operate a sidewalk cafe. B. BUSINESS TAX RECEIPT: The applicant shall provide a copy of the valid business tax receipt from the associated Restaurant or Nightclub. C. INSURANCE: The applicant shall provide proof of liability insurance in the amount of $1,000,000.00 per occurrence, and to include City of Boynton Beach as an additional insured on policy. The policy should also state that the City shall receive 30 day notification of cancellation Continued on next page. 2 D HOLD HARMLESS AGREEMEN1 T'r1( Ippwar shan enter into noid harmless agiterc,ct, with the CM' of 'Boynton Beaci CITY OF BOYNTON BEACH SIDEWALK CAFE HOLD HARMLESS AGREEMEN1 This Hold Harmless Agreement is made on by and between flan the City of Boynton Beach Honda (the Cityl and 44licant WI TNESSTH WHEREAS „ • :ocated It\ of Boynton Beach. Honda, has requested Permit for a sidewalk cafe pursuant to the requirements as contained herein, and of (Mantel Article IL Section 6 D and Chapter Anicie Section 9 of the and Developmeni Regulations. and WHEREAS_ pnor to authonzing the establishment of a sidewalk cafe„ the applicant mu' enter into a hold harmless agreement with the City of Boynton Beach, and provide proof of insurance in conformance with the requirements contained in Part fl C above of this apricatio and with the applicable Land Development Regulations arlf, WHEREAS. _ _ _ agrees to abide by' all the regulations gevernmg siciev,'ak cafes as contained herein and ;if, the (lBoynton Beac Land Development Regulations N,10\ THFREFOR FOR ":.(1\jENA3 ‘‘ AND V, ATTFRS SE' FORT)- HEREIN A SFT FORTH ,/-030VE, T'HF PARTIES HEREB L,GR,EF FOLLOW he recitations set forth above are incorporated herein _ acknowledges that the Cm shall assum no responsibility for such and structures, improvements, matenals, appurtenances o forruturi or the partial or complete destruct' n orremoval on e ject properi, T /, ;U / , e y 3. , UZ-1 6c shall defend, indemnify, and hold harmless, the City, its agents, officers, employees, and servants from any and all claims, suits, causes of action or any claim whatsoever made, arising from the permit of the City to establish a sidewalk cafe or from any claims for damages to property or injuries to persons which may be occasioned byany activity carried on under the terms of the permit. 4. - C , 1-¢ (., ( 4 : ,- ,,- -1- - , agrees to provide all insurance required as contained herein and pursuant to the applicable Land Development Regulations. Failure to maintain the required insurance shall be sufficient cause for the City of Boynton Beach to suspend or revoke the Sidewalk Cafe permit issued pursuant to this application and the applicable Land Development Regulations , -) /--) * U de,/ 4 .?9 / /) Apphcap?'s Signature Witness's Signature , ! 5 ( 1 1/1 \\, e ,, CU n, / 6 k i'U' Applicant's Rrinted Namc Witness's Pnnted Name Witness's Signature Witness's Pnnted Name STATE OF 1 L COUNTY OF 7 l /r) (,4 ( / The foregoing instrument was acknowledged before me this on 0 (4 JJ { i_iy Pk),J Q ( t. (name of officer or agent, title of officer or agent), of 'l k /t / (name of corporation acknowledging), a L - -�.-- �- (state or place of incorporation) corporation, on behalf of the corporation. He (She is personally known to m)r has produced (type of identification) identification/ 4 i U1 U� U tfr 4 c� .J'''.7 ' UTTEfi$ACK Signature of Notary Public Noisy rrwe - SUN o1 pats t .111:4 A N am.EmJon 11,2014, '•. ? a! N n 95 ASO i City Clerk it\ Manager Approved as to Form and Legal Sufficienc City Attorney E. S1'ATEMEN1 The applicant shall submit a signed statement acknowledging receipt anti understanding of the City's sidewalk cafe regulations, and a promise of future compliance with sued regulations. ' - — , acknowledge receipt of a copv or the Clt\ nl Applicant's Printed Nam( Boynton Beach Sidewalk Cafe permit regulations hal read and understand the regulationi, Restaurant Name and A ddrey App)canr's Signarui F DRAWING scaled drawing depicting the layout and dimensions thc ti,xisting sdewafl no contiguous pnvatc property On on (i ; sheet. the drawing shall illustrate size aria tables, steps, trees. bus shelters. skiewalk benches trash receptacle, freestanding lighting fixtures ri,Ni signs. handicap ramps. and anything else that could potennalhs obstruct the siaewali; of impeci( pedestnan traffic 'he illustration shall include distances between the aforementioned lerns crisnr the design is functional and compl:cs ith handicap ;accessibility regulations F ELEVATIONS OR PHOTOGRAPHS [he applicant shal; su bin): ev awn &awing:, photographs. or the manufacturet brochures of all tables chairs umbrellas etc Ihr A will be ,iseci as of tne application S Tlarunri orm, Appi:catAnn, R t nit ( SIDEWALK CAFE CHECKLIST Name of Restaurant: T{f[ L, n //o as E. Address• p E c.,,x,,t) 4-1' u Telephone Number: 56./ — 4 — D573 Name of Applicant: c. ssy t T Address : Telephone Number: 541 — 57i...... 4_3 Emergency Number. Written approval of owner to operate said sidewalk cafe: Yes ( v i No ( 1 Copy of Business tax receipt to operate the associated restaurant/nightclub Yes No adjacent to subject of application: If no. explain: Copy of Certificate of Occupancy if new / major construction Yes No 1 If no, explain. Proof of Liability Insurance In the amount of 51,000,000 00 per occurrence Yes No and to include City of Boynton Beach as an additional insured on policy). 1 a'_ ] Policy should also state the City shall receive 30 day cancellation notification. Hold Harmless Agreement Yes No ( � 4 Signed statement acknowledging receipt of copy of the sidewalk cafe ` Yes No 1 1 ' regulations and understand them Scaled drawing depicting layout and dimensions of the existing sidewalk ` Yes No ( 1 area and adjacent pnvate property: (Drawing to include size and location of ' tables, chairs, steps, trees, bus shelters, sidewalk benches. trash receptacles, light poles, street signs, handicap ramps and any other sidewalk obstructions within pedestrian area and distance from the tables and chairs from all of the above). --I Photographs, drawings, specifications r' manufacturers brochures of tables. Yes No r----1 chairs, umbrellas, etc j j Non- refundable application fee (S40 00). ' Yes No I 1 L — — I _ FOR OFFICE USE ONLY _ _ Date submitted 1 Date deemed complete ii _ / — fZ ____ _ r Date of approval for transmittal to Board a_ / _ / Z i Reviewer �p 12 S \ Planning' SHARED' WPhFORMS\APPLICATIONS'SIDEWA1.K CAFE CHECKLIST doc Section 9. Sidewalk Cafes. A. Definitions. See Chapter 1, Article II for the definition pertaining to sidewalk cafes B. Approval Required. It shall be unlawful for any person to operate a sidewalk cafe on any sidewalk or public right -of -way within the city without obtaining approval in accordance with Chapter 2. Article II. Section 6.E. C. Applicability. A sidewalk cafe may be allowed, subject to review and approval as outlined herein, on an abutting public sidewalk (right -of -way) and as an accessory use to a legally operating RESTAURANT or NIGHTCLUB establishment, provided that such establishment is located within the boundaries of the Community Redevelopment Agency (CRA) area. A sidewalk cafe shall be subject to any additional limitations or restrictions of the zoning district for which it is located. A sidewalk cafe is prohibited outside the boundanes of the CRA. U. Regulations. J. Private Sidewalk. Chairs, tables and related sidewalk cafe components shall be restricted to the sidewalk frontage of the building where the N alidly licensed restaurant or nightclub is located, unless written authorization is provided by the owner of the adjacent property and submitted with the application for sidewalk cafe approval 2. Accessibility. Tables or chairs shall be located a minimum of five L5t feel from a pedestrian crosswalk or handicap ramp bus stop shelter. bus stop sign. taxi stand. stop sign or fire - hydrant it A clear pathway, parallel with the street. NA ith a nmi iitdth of four (4) feel. shall he maintaineo ti't through pedestnan traffic. How e\ er. minimum width c f iiyc (` feet shall be maintained between the scats \ \herc the t)cdestrian path bisects the pioposeo seating_ atrangemrrit t� In areas of congested pedestnan activit'. Inc ( t`- may require: c; ti, idei pedestrian path_ as circumstance dtctatc 3. Perimeter. No objects shat) he pernitted around the perimeter of a sidewalk area occupied by tables and chairs unless placed in a manner so as not to discourage the use of the pedestrian path of the sidewalk. 4. Safety. Tables, chairs, umbrellas, canopies, awnings, and any other objects utilized as part of the sidewalk cafe shall be of quality design, materials, size, elevation, and workmanship, both to ensure the safety and convenience of users. Awnings, umbrellas, and other decorative material shall be fire - retardant, pressure treated or manufactured, or fire resistant material. The City may require relocation of tables, chairs, and other objects at any time for safety or pedestrian flow consideration. 5. Design. All tables, chairs, umbrellas, canopies, awnings, and any other objects as part of the sidewalk cafe shall meet the following minimum design standards: a. Contribute to the aesthetic appearance of the area where the sidewalk cafe is proposed by promoting the design and color theme applicable to that area; b. Contribute to the efforts of community identity and redevelopment; c. Not constitute or create traffic or pedestrian hazards: and d. Respect Community standards relative to decency and obscenity. 6. Outstanding Debt Prior to forwarding the application to the CRA Board, the CRA Director or designee shall certify that there are no outstanding fines, moneys, fees, taxes or other charges owed to the City by the current or past owners or operators of the property requesting a sidewalk cafe approval. Final approval of a sidewalk cafe shall not commence until all outstanding debts to the City are paid in full. 7. Menu Board. The proposed location and design of the menu sign shall be considered a part of the review for a sidewalk cafe application, and be subject to any applicable standards of the Sign Code. 8. Conditions for all Approvals. The following conditions shall apply to all sidewalk cafes: a. The City and its officers and employees shall not be responsible for sidewalk cafe components relocated during emergencies b. The approval shall be specifically limited to the area shown on the "exhibit" attached to and made a part of the permit. The City shall have the right to remove without notice, any tables, chairs or other objects not in the permit area. c. The operator shall act to assure that its use of the sidewalk in no way interferes with sidewalk users or limits their free unobstructed passage. The City may require relocation of tables, chairs and other objects at any time for safety or pedestrian flow consideration d. Operators holding a Business Tax Receipt limited to take -out food shall not be permitted to provide table service on the sidewalk. This provision shall not include an ice cream shop or coffee bar which is duly licensed for eat- in service Tables. chairs. umbrellas, and any othei objects permitted as part of a sidewalk cafe shall be maintained ith a clean and attractive appearance and shall be in gooc repair at all time I. 1 he sidewalk area coy erect by the application and sidewalk and roadway irnmediatel} adjacent lc it shat he maintained in new and orderly appearance all iiTncs and the area shall be cleared a, all debris as needed eurinl2 the day. and again at the close of each business oaN Unless otherwise provided herein rgi, associated with the sidewalk cafe shall be allowed uvithit' the public right-of-w a v lr. - s[o tables chair ;1 an) other parts sidewal, cafes shall be attached, chained. or ir: an) manner affixed to any tree, post, sign of other fixture. curb or sidewalk with1Ti of near the permitted area 1 he area between the exterior :ins RESTAURAN1 of a .A1GH1( 1 UH and the edge of sidewalk shall he designated as public space The placement of tables and chairs in this public space shall not constitute a building improvement which otherwise triggers structural improvements to the operating business under the provisions of the Florida Building Code (FBC) or any State Statute. In the event an operator of a RESTAURANT or a NIGHTCLUB creates a sidewalk cafe pursuant to the terms of this section and such creation entails actual structural improvements to any portion of the structure other than the permanently obstructed ingress or egress to the restaurant or nightclub then, in that event, all applicable provisions of the FBC or State Statutes necessitating improvements to the property shall apply. j. No food preparation; fire; fire apparatus; or drink preparation or dispensing equipment shall be allowed on the public sidewalk, other than that employed in the course of ordinary tabieside service, including but not limited to menu items which require table preparation, whether or not such area is covered by the approval. b. Upon the issuance of a "Hurricane Warning" or "Hurricane Watch" by the authorities, the operator shall forthwith remove and place indoors all tables, chairs, awnings and other equipment located on the sidewalk. E. Liability and Insurance. 1. Liability. The operator agrees to indemnify, defend, save and hold harmless the city, its officers and employees from any and all claims, liability, lawsuits, damages and causes of action which may arise out of this permit or the permittee's activity on the premises by executing a written hold harmless agreement. 2. Insurance. The operator agrees to meet and maintain for the entire approval period, at his / her own expense, the following requirements: a. Commercial general liability insurance in the amount of one million dollars ($1,000,000.00) per occurrence for bodily injury and property damage. The City must be named as an additional insured on this policy, and an endorsement must be issued as part of the policy reflecting this requirement. b. Worker's compensation and employer's liability as required by the state. c. All policies must be issued by companies authorized to do business in the state and rated B +: VI or better per Best's Key Rating Guide, latest edition, d. The City must receive 30 days written notice pnor to any cancellation, nonrenewal or material change in the coverage provided. e. A certificate of insurance showing evidence that the above requirements have been met must be included in the renewal application. Failure to maintain these requirements shall justify a suspension or revocation of a sidewalk cafe permit by the city manages. 1. The approval period shall run and insurance requirements as described in subsection h. above shall be effective from Octobci ` until September ;f) of the following calendar Year F. Penalties. Ant- Violators of this section shall be fined in accordance with Chapter Article 1. Section 7 A of these Land Development Regulations see Chapter 2. ,4rticle. 11. Section 6 E for additional information regarding the denial of revocation of a sidewalk cafe permit. G. Recovery' of Unpaid Fines. The (:ode (ompliancc Board shall have the power and jurisdiction to hold hcanng for recover) of unpaid fees under this chapter as mandated undo Pan 11. Chapter 2. Article f The Board al its option ma) impose hem, irovided in Article 5 of rhantei ' i'hc City of Boynton Beach :nay institute proceedings cow-. c. ,iompctent iunsdictimrm 1 compel payment of civil fines r."', LITTL -7 OP ID: DE ACCORD" D ATE (MM/DD1Y1'YY) `..r.- CERTIFICATE OF LIABILITY INSURANCE 10/29/12 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: if the certHicate holder is an ADDITIONAL INSURED, the policy(tes) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER Phone: 561-691-4710 CONTACT RPA - FL - - FAX uit -- — 4500 PGA Boulevard, Se 301B Fax: 561. 691.4712 P ' �h I IA/C, NO Palm Beach Gardens, FL 33418 l-Alf ADDRESS' • INSURERS) AFFORDING COVERAGE I -- P AIC • INSURER A : SCOTTSDJLLE INSURANCE ? INSURED The Little House INSURER B -- -_` -- - - - -- - Adventurous Palate LLC "— — Chris$y Benoit INSURER C • 480 East Ocean Avenue INSURER 0 • Boynton Beach, FL 33435 — — — { - -- INSURER E - --_ -- } INSURER F . • COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: 1 THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. TRW -` - - -- - -- - -- iADOUSUBRI - ~ -"-- 1 POLICY EFF I POLICY EXP I - ' LTR 1 TYPE OF INSURANCE • INSR) WV0 1 POLICY NUMBER i IMM/DEVYYYYI • (MM1DONYYY1 I LIMITS ' GENERAL LIABILITY ' EACH OCCURRENCE __ ' $ 1,000,000 A X COMMERCIAL X 'CPS1638947 10/17/12 10/17/13 p RENTED — $ 100,000 I —, - - ,(Ea occurrence) ' CLAIMS -MADE X I OCCUR 1 MED EXP (Any one person) $ -- V 5,000 _ _ I PERSONAL & AOV INJURY I $ 1 X Liquor Liab - GENERAL AGGREGATE $ 2,000,000 GEN'L AGGREGATE LIMIT APPLIES PER ' PRODUCTS - COMP/OP AGG $ 2,000,000 POLICY ; PR o- ( Loc ILiquor - - -- - -- 1 1,000,000 AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT i _Ma acgdent) $ -- ANY AUTO , BODILY INJURY (Pe person, I $ ' ALL OWNED SCHEDULED I i I BODILY INJURY (Per accident) $ AUTOS ■ NON-OWNED ' PROPERTY DAMAGE - - - - ^ -- - i - - -- HIRED AUTOS AUTOS ,, (Per accident) _ $ _ _ _ - _ _ i 1 UMBRELLA LIAR OCCUR EACH OCCURRENCE I $ EXCESS LIAB _ 1 _ CLAIMS -MADE , AGGREGATE $ __ DED , RETENTIONS _ _ — _ ^_ _ -- - -- $ WORKERS COMPENSATION WC STATU OTH - AND EMPLOYERS' LIABILITY Y 1 M .TQRY (:R , _ _ __ /P ANY PROPRIETORARTNFR ' E L EACH ACCIDENT , OFFICER/MEMBER EXCLUDED? N / A - - -- - -- I (Mandatory In NH) E L DISEASE - EA EMPLOYEE $ If s, descnbe under - - DESCRIPTION OF OPERATIONS below ' ^— -__ _ �_ E L DISEASE - POLICY LIMIT ' $ DESCRIPTION OF OPERATIONS /LOCATIONS 1 VEHICLES (Attach ACORD 101, Additional Remarks Schedule, lf more space is required) J Certificate holder is named as additional insured with respects to the General Liability Policy CERTIFICATE HOLDER CANCELLATION CITYBBC SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN City of Boynton Beach ACCORDANCE WITH THE POLICY PROVISIONS. Boynton Beach Community Redevelopment Agency AUTHORIZED REPRESENTATIVE 710 N Federal Hwy 1 Boynton Beach, FL 33435 e ® 1988-2010 ACORD CORPORATION. All rights reserved. ACORD 25 (2010/05) The ACORD name and Togo are registered marks of ACORD _.,�,....N I T i. OP ID. CIE A R CERTIFICATE OF LIABILITY INSURANCE DATE 10/25112 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(tes) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement A statement on this certificate does not confer rights to the certificate holder In lieu of such endorsement(s). PRODUCER Phone: 561 - 691 - 4710 fiafeCT RPA - 4500 GA Boulevard, Suite 3018 Fax 561- 691 -4712 �j ,t, JA/ No, Palm Beach Gardens, FL 33418 E-MAIL ADDRESS { INSURER(S) AFFORDING COVERAGE .*.AK, e INSURER A Associated Industries Ins Co INSURED The Little House INSURER E Adventurous Palette LLC Chrissy Benoit NSURER c 480 East Ocean Avenue ; INSURER t Boynton Beach, FL 33435 INSURER E INSURER F - -___ _ _ COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: _ _ THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT 'O AL 1 HE TERMS EXCLUSIONS AND CONDITIONS OF SUCH POLICIES LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS 'ADDQ?LUS POLICY EFF POLICY EXP ILTRR TYPE OF INSURANCE (ySR VJVD POLICY NUMBER_ , jMM/DDIYVYY1, (MMIDDIY YY_YA, LIMtTS GENERAL LIABILITY EACH OCCURRENCE DAMAM COMMERCIAL GENERAL LIABIL T r PREMISES (Ea ocamence CLAIMS -MADE OCCU1, MFI EAP A'r o , pr ', • ?ERSONA, 5 ALP i�.,ic, GENERA! AGGkEO'- t ' GENL AGGREGATE LIMIT APPLIES PE F ` kODU``` c C 7MF O` 6, PRO POLICY JECT_ ,� U:. __ _ _ - COMBINED SINGL 1 i'MI AUTOMOBILE LIABILITY Ea acOden,' -, )DL > INJUP" c* [, ANY AUTO ALLOWNEC SCHEDU.EI ( -,;,,_* Itv,UFy , e or AUTOS NON-OWNED PROPERTY DAMAO' HIRED AUTOS- AUTOT Pe aciideni UMBRELLA LIAE OCCct, -F - ( -a,RiA EXCESS LIAE C LA, M' -0.1ADr ' , i C',A , _ DED _ RETENTION. _ WORKERS COMPENSATION X wc. S * h , 7 ,, ORY' iV , : AND EMPLOYERS' LIABILITY Y r N A hNY PROPRIETOR /PFRThE S'E rr AWCIO158OE 071/3 ('7I13I1 :1 , 500,000 � CFFICER'MEMBER EXCLUDE'' N A I , � Ai , , t $00,000 (Mandatory in NH) It yes, Describe u1ci ursEASi 500,000 DESCRIPTION OF OPERATIONS Pe,, DESCRIPTION Or OPERATIONS LOCATIONS ' VEHICLES (After' ACORD 151 Addn,r,np' Remark's Schedule, I( merr spec, ,. , rgLared) CERTIFICATE HOLDER___ CANCELLATION I — - - - - CITYBBG -- -- SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE ' THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN City of Boynton Beach ACCORDANCE WITH THE POLICY PROVISIONS Boynton Beach Community Redevelopment Agency AUTHORIZED REPRESENTATIVE 710 N Federal Hwy. Boynton Beach, FL 33435 !.�+ _____ _ _ 4)1988 - 2010 ACORD CORPORATION All rights reserved ACORD 25 (2010105) The ACORD name and logo are registered marks of ACORD A___/ ...,''' , eiq gM iii ilp is ...„„„„,„,„.. „ w , e ir r </, i \ 1 ti b # \ Iris x ` 1 - - - 7 Z� , �S T _fl .1.. 1 n ..„7, 1 D Wg i7D z . 1 i J I , - ' t i1 { L1_ _ 1,,, . J N 1 / \ 1 4 Mi - , 1 I } ,\ 1 1 y 1 f; -- , 1 1 I _ , , L- - - - -,1 � 11 \ 11 Z i: ;' I i ! �c 1 i J � G' r- w p 1 i ' I ■ r r t i 1 p;, e I A ` i f , •` 1 t 1 i iI r r Jti ! k, f 1 II CD 4 _. �Iq Sy ' \t P it:4 •—j wart - t ' ."-''''' ; .-. '-. ... ' "'"--. "e.:-.:.7 _ "":7 ._ _ _ -'_:- ' - V ` 9 c CD + — . . CG 1 , 1 • H / # \ t 1 it / f f . c_1 r1 / :.z , g 4 / f / �1 \\ 1 �. _j C� t .' :� \ ■ ' , en 11 \ L , \\ 1 1 1 _ _JAS i 1:.-- © rt ` f V. V ✓ 2 t e Ai Zi t o s \ ow _ n § 4 . pJo BOYNTO cRA iiiiBEACH 1 CRA BOARD MEETING OF: November 13, 2012 Consent Agenda Old Business ( New Business Legal 1 j Executive Director's Report SUBJECT: Boynton Beach Haunted Pirate Fest 2012. SUMMARY: Swashbucklers of all ages converged in downtown Boynton Beach on October 27 & 28 for the 1st Annual Boynton Beach Haunted Pirate Fest. This free two day event took place along E. Ocean Avenue between Seacrest and NE 1 and transformed Downtown Boynton Beach into a lively pirate village with 3 stages of continuous live music, children's activities, pirate re- enactments and pirate stunt- shows. Additional highlights from the 2012 Boynton Beach Haunted Pirate Fest included; Captain Jack Sparrow, with his crew of over 70 buccaneers who made this event a totally interactive experience, which actually mesmerized the 2000+ attendees each day. A Spooktacular Haunted House presented by the Schoolhouse Children's Museum, along with music acts The Bawdy Boys and Celtic Mayhem and numerous performance groups... made the weekend entertainment complete! This was an absolutely AWESOME event and we are very proud to have it as our signature event. FISCAL IMPACT: CRA PLAN, PROGRAM OR PROJECT: Budgeted in line item 02 -58500 -480. RECOMMENDATIONS /OPTIONS: - okor )6(4e, Kathy Biscuiti Special Events Director BOYNTON =BEACH CRA BOARD MEETING OF: November 13, 2012 I Consent Agenda 1 X 1 Old Business 1 New Business 1 1 Legal 1 1 Executive Director's Report SUBJECT: Consideration of Transfer of the Properties located at 118 -120 NW 10 Avenue & 124 -124 NW 10 Avenue to the City of Boynton Beach. SUMMARY: At their June 12, 2012 meeting, the CRA Board approved the funding and acquisition of the properties located at 118 -120 NW 10 Avenue and 124 -124 NW 10 Avenue (see Attachment I). These vacant and boarded properties have been a nuisance to the community as well as a haven for illegal activity for many years. Acquisition of these parcels was intended to not only eliminate slum and blight but had been identified for use as part of the City of Boynton Beach's future redevelopment of the Sara Sims Park Master Plan Project (see Attachment II). On November 2, 2012, the CRA took ownership of the two parcels at a cost of $143,393.20 (see Attachment III). As was contemplated during the purchase negotiations, the CRA would like to transfer the two parcels to the City of Boynton Beach for incorporation into the Sara Sims Master Plan Project. The City intends to demolish the existing boarded structures and placing bahia sod on the vacant lots until such time as they can be utilized by the park redevelopment project. FISCAL IMPACT: Purchase and closing costs totaling $143,393.20 encumbered from FY 2011 -2012. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Heart of Boynton Redevelopment Plan, Sara Sims Park Master Plan RECOMMENDATIONS /OPTIONS: Approval of the Transfer of the CRA owned properties located at 118 -120 NW 10 Avenue & 124 -124 NW 10 Avenue to the City of Boynton Beach. Michael Simon, Development Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings\November 20121Transfer of Luchey Properties to City of BB.doc ATTACHMENT I ■ • • Mir t +.• ,. , 4 „ . iii . II 1 R t � .. ..�..j i . 9 . ' Njj St St ''` \ ti i _. _. a s .un , 0... ;} _ i. fi x:. • M _�M �. _Ar Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 12, 2012 Mr. Orlove inquired about the multi -year financial plan from Habitat and questioned some of the figures. Ms. Brooks believed it was their cash flow, and why they were proposing to construct two homes at a time as opposed to all 11 homes. Mike Williams, Habitat for Humanity, South Palm Beach County, responded the figures were put together by finance and he could only speculate. He believed it was their ending cash to construct the home(s) based on cost and then what cash was needed to start. If they kept the schedule the way it was, the budget would be in the red by July of this year. Adjustments were made, and later on in the meeting they would be seeking an extension for four other Tots. B. Consideration of Resolution 12 -02 Authorizing the funding and execution of Purchase Agreements for the Luchey Properties located at 118 and 124 NW 10th Avenue in the amount of $140,000 This item was brought to the Board in the past regarding properties on NW 10th, just west of Seacrest in the HOB. The properties were multi - family properties with high code liens. The City brought the properties to the CRA to purchase if the City foreclosed on the code liens which CRA agreed to do. There would be two short-sale purchase contracts, with a short-sale clause: one for each property. The property was also to the right of the Brandom property, which was also another multi - family problematic property. The CRA also purchased that property, demolished the structure, put sod on the lot, and gave the land to the City for the Sara Sims property. The same thing would happen if the bank agreed to the purchase price. Since the property was a short sale, it was below appraised value. Staff recommended approval of the resolution and purchase contracts. Vice Chair McCray commented he was glad to see something was done with the property. When the HOB study was done, they tried to address these properties to clean up the area and the price to acquire the homes was astronomical. He was glad to be able to obtain them at such a good price. Motion Mr. Karageorge moved to approve Resolution 12 -02, authorizing the funding and execution of the Purchase Agreements for the Luchey properties located at 199 and 124 NW 10th Avenue in the amount of $140,000. He noted the liens would go away once acquired. Vice Chair McCray seconded the motion. Mr. Orlove inquired about the status of the two properties to the west. Ms. Brooks explained the property immediately to the left had no liens and staff had someone looking at it to see if they would sell. The property to the left of that property was owned by Mr. Jenkins, who wanted to sell. An appraisal was done, but Mr. Jenkins wanted too much money. She was working with the City. There was some money available through the Community Development Block Grant program and the City may purchase it. If Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 12, 2012 done, that block would be cleaned up. The Community Redevelopment Agency paid for a master plan for Sara Sims Park, and these four acquisitions, in addition to the Brandom property, would be added to the Park. Ms. Brooks planned to put railroad ties on the properties to prevent cars parking on the premises, and lay drought resistant sod. This would make a big difference in the streetscape on Seacrest. It was noted there was an eyesore across the street. Ms. Brooks agreed and suggested starting with Code Enforcement. She pointed out anyone wanting to go to the Carolyn Sims Center understood the gauntlet they had to pass through to get to the Center. It was in everyone's best interest to clean up the area. Once this area was cleaned up, the City could begin looking to build single - family homes in partnership with the private sector. Vice Chair McCray explained years ago, cleaning up the area was in the HOB plan, but since this opportunity presented itself, staff would have these properties cleaned up and then continue across the street on the other properties. He thought it was a shame the public had to pass by such a condition to get to a lovely elementary school. Attorneys Cherof and Tolces were thanked for their efforts. Vote The motion unanimously passed. C. Update on the Request to the PBCC for an amendment to the Waterfront Easement Agreement at the Boynton Harbor Marina and status of ongoing issues with Splashdown Divers, Inc. Mike Simon, Development Director, recalled at the May meeting, staff reported that Commissioner Orlove, Attorney Cherof, Ms. Brooks, and he attended the Palm Beach County Board of County Commissioners meeting. They listened to a continued discussion of the item and another 30 -day extension of the tabled item was granted. At the May 15th Community Redevelopment Agency meeting, he presented several options to the Board in an attempt to assist Ms. Simmons locate in Marina Village, which would provide a solution and respond to the County's direction to get her back into the Marina if possible. In a good faith effort, he met with the owners of Z Management who own property Unit H next to their office in Marina Village. He facilitated a meeting on May 21st with Ms. Simmons, her husband, a crew member from her vessel, George Zarcadoolas - one of the principals of Z Management, and their realtor Adolfo Castellano, Jr. The meeting was a good meeting, and he attended it to gauge where both parties were as a potential 6 i t , BOYNTON c =BEACH CRA BOAR D MEETING OF: June 12, 2012 Consent Agenda I X I Old Business I New Business I Legal I ( E:ecutfve Director's Report SUBJECT: Consideration of Approval of Resolution No. 12 -02 Authorizing the Funding and Execution of Purchase Agreements for the Luchey Properties located at 118 and 124 NW 10 Avenue in the Amount of $140,000 SUMMARY: At the February 14, 2012, CRA Board meeting the Board approved offering the lender on the two properties located at 118 and 124 Martin Luther King, Jr. Blvd. for a total of $140,000. Attached are the Purchase Agreements drafted by the CRA attomey and executed by the owners of the property. FISCAL IMPACT: $140,000 plus closing costs for both properties. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS /OPTIONS: Approve Resolution 12 -02 and execution of the two purchase agreements in the total amount of $140,000. Vivian L. Brooks Executive Director T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Completed Agenda Item Request Forms by Meeting1FY 2011 - 2012 Board RESOLUTION NO. 12-02 A RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, TO AMEND THE 2011 -2012 BUDGET TO INCREASE THE TOTAL APPROPRIATIONS FOR THE GENERAL FUND AND THE PROJECT FUND AND REFLECT MOVEMENT OF FUNDS FROM THE GENERAL FUND TO THE PROJECT FUND AND ALLOCATE PROJECT FUNDS; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Boynton Beach Community Redevelopment Agency Board (hereafter "CRA ") has adopted the fiscal 2011 -2012 budget and does allow program changes as necessary; and WHEREAS, it is the objective to maintain accuracy of the budget document to reflect policy determinations of the Board as to the proper and legally defensible appropriation of funds authorized by the Community Redevelopment Plan.; and WHEREAS, the CRA Board has approved at the February 14, 2012 meeting a potential property purchase unbudgeted in FY 2011 -2012 in the amount of $140,000; and WHEREAS, the source of funds are available in General Fund Unassigned Fund Balance; and WHEREAS, the Director of Finance, based on the Board's policy determination has identified certain line item appropriations that require budget adjustments hereinafter reflected. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY THAT: SECTION 1. The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby incorporated herein. SECTION 2. The CRA hereby increases General Fund budget revenue and transfers to Project Fund budget the amount of $140,000. Project Fund budget transfers in (revenue) is hereby increased by $140,000. Project Fund budget expenses are increased by $140,000 for the purchase of property located at 118 and 124 MLK Blvd., Boynton Beach, FL, line item 02 -58200 -401. A copy of the 2011 -2012 budget amendment is attached hereto as Exhibit "A ". SECTION 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. SECTION 4. If any clauses, sections, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 5. This Resolution shall become effective immediately upon its passage and adoption. PASSED AND ADOPTED BY THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD, THIS 12TH DAY OF JUNE 2012. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: _____ Woodrow Hay, Chair Approved as to form: James Cherof CRA Attorney � $i Eg 1g i ll im 69 w 14 CA co H IIIIiI 0 d3 t [ N EV N CV U u► vi CA w 1 0 CV 0 IX O S '" `� 2 0 0 a Q z Q z • J H og 8 2 W m z di cri X ° i z (Jr W z z • o 61 $ W N W ag 8 • 7 o 1- 1a - c W F f— a 2 1 .6 Li. .5 j a ° g o h 4 8 ° z illi *- u. I a zi I� 8 :1 dLV A PURCHASE AGREEMENT This Purchase Antennaat (hareinefter "Agreement") is made and entered into as of the Bfbbctive Dab (hereinafter defined). by and between BOYNTON BEACH COIL+ MIJNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Putt DI, of the Florida Statutes (hammer "CRA") and GAIL LU HEY AND ANDREW LUNY, husband and wills "SELLER"). In consideration of the mutual covets and agreements herein set forth, the Parties hereto agree as follows: 1. SELLER agrees 10 sell and convey to CRA and CRA agrees to purchase and acapdre from SELLER, on the terms and conditions hereinafter set forth, the Properties located at 118 -120 NW 10 Avenue, Boynton Beach, Florida in Palm Beach County, Florida (the "Properties") and more particularly deacribed as follows: West 7.5' of Lot 1, all of Lot 2, end East 7.5' of Lot 3, Hp Accordkg to the Amy or plat t . eo); u noc rdad in Plot Book 24, Page 70, Public Reconic of Palm Beach Comity, Florida 2. rialgiftg.RIEMANILinail The Purchase Price to be paid for the Property shall be Seventy Thousand and 00/100 ($70„000.00) Dollars, payable in cash, by wire transfer of United. States Dollars at the Closing. 3. lanSiL 3.1 Earnest Money Deposit. Within five (5) Busing Days sutler the execution of the Purchase Agreement by both Purchaser and Seller CRA shall deliver to Goren, Chant Doody 1ht Bsrol, 1'.A. ("Escrow Agent") a deposit in the amount of One Thousand Rollers ($1,000.00) Dollars (the "Deposit"). 3Z AlllakillillikallaMagitftUkingt The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount againad the Purchase Price. If this Agreement is laminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If this Agreement is gated due to a defrwlt, pennant to Section 12, the Deposit shall be delivered to (or ruined by, as applicable) the non- defaulting Patty, and the non-defaulting Party shall have such additional rights, if any, as are provided in Seoaan 12. 3.3 Belmeatanst. CRA and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terns of this Agreement. The parties agsrce that Escrow Agent will not be liable to any person fir miadelivery of escrowed items to CRA and SELLER, tables the misdelivery is den to Escrow Agent's willEbl breech of this Agreement or gross negligence. If Escrow Agent iaterpleada the subject matter of the escrow, Barrow Agent will pay the filing fines and costs tom the deposit and will neoover reesooable attorney's fees and costs to be paid from the meowed Reds which we changed and awarded as court coats in fever of the prevailing party. All cleans. against Earsow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. $fFECITVE J? ATE. The effecdve date of the Putcbsse Agreement is the date that the Escrow Agent receives the Escrow Deposit and F.ecaowAgent 451110111 06 the Agreement. 5. CLOSING The purchase and pale transaction contemplated herein shall close thirty (30) days after the SELLER receives Short Sale Approval, as provided herein, (the "Cloeio unless extended by outer provisions of this Agreement or by written agreement, signed by both parties. 6. TITLE TO BE CONVEYED. M Closing, SELLER shall convey to CItA, by General Warranty Dad complying with the requirements of the Tide Cones dement (bereinalter defined), valid, good, marketable and insusable tide in ibe simple to the Property, flee and clear of any and all liens, encumbrances, conditions, easements, assessments, resbric ions and other conditions accept only the following (collectively, the "Permitted Exoepdon?): (a) general real estate taxes and special assessanonts for the year of Closing and subsequent years not yet due and payable; (b) covenants, conclitions, e aaemests, dedicatioea, -way and matters of record inchtded on the Title Commitment or shown on the Survey (defined in Seaton 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 heaeo£ 7. rEMBILIECURIM The CRA, and its designees shall have sixty (60) days from the Effective Date of this Agreement ('Feasibility Period"), at CRA,'s expense, to make inquiries to determine if the Property is suitable for its intended use and to on upon the Property, at any time and from tithe to time with reasonably no doe to SELLER and so long as said investigations do not result in a business interruption, to perform nay and all physical tests, inapeCtidns, epptaistals and invest of he Property; including but not limited to Phase I and Phase 11 investigations, igations, which CRA may deem necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this contract and receive back all Deposits haasmder. If CRA elects to terminate this Agreement in accordance with this Section, CRA shall: (1) leave the Property in substantially the condition existing on the Bffioctive Date, subject to such disturbemoe as was reasonably necessity or convenient in the testing and investigation of the Property; (ii) to the rent practicable, shall repair and restore any damage caused to the Property by CRA's testing and invesdgation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's testing and investigation. C A hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's flees, for nonpayment for services rendered to CRA (including, without limitation, any won liars resulting therr.froom) or for damage to patens or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. However, CRA's indemnification obligations shall not exceed its statutory limits as provided within Section Page 2 of 14 7682.8, Florida Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless ftvm and against all claims, losses. expanses, demands and liabilities, including, but not united to attorney's tae, for nonpayment Oar services rendered to SELLER or for damage to persons or property (subject to the limitation on pmeticability provided above) arising out of CRA's investigadon of the Property. SELLERS' obligations under this Section shall survive the termination, expiation or God of this Agreeement. 7.1 Martin. Within twangy (20) days of the Effisetive Date, CRA shall obtain, at the MA's expense, Atom a Title Company chosen by CRA (ham "Titre Company"), a Title Commitment covering the Property and proposing to insure CRA in the amount of ibs Purchase Price subject only to the Permitted &captions, together with complete and legible copies old imtruments ideneffied as =Mons or =options in Schedule B of the Title Commitment. CRA shall examine the The Commitment and deliver *titan notice to SELLER no later than thirty (30) days after the Effective Date notifying SELLER of any objections CRA has to the condition of title (hereinafter "CRA Tide Objections"). If CRA fails to deliver the CRA Tide Objections to SPII ER within the sfooaaid review period, title skull be deemed accepted subject to the conditions sot forth in the Tito Commitment. If CRA timely delivers the CRA Title Objections:, then SELLER shall have thirty (30) days to diligently and in good faith undertake all necessary activities to cure and remove the CRA Title Objections (hereinafter "Cure Period'): In the event that SELLER is unable to cure and rcmovc, or cause to be cured and removed, the CRA Tide Objections within the Cure Period, to the addiction of CRA, thin CRA, in CRA's sole and absolute discretion, shall have the option of (i) ending the Cure Ponied and the Closing for one additicdmal thirty (30) day period, or (ii) accepting the Title to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to CRA and the Parties shall have no further obligations or liability hereunder, except fbr those expeessly provided herein to survive termination alibis Agreement. Prior to the Cioeing, CRA shall have the right to cause the Title Company to issue an .updated Tide. Commitment ("Title Update") covering the Properly. If any Title Update contains any conditions which did not appear in the Title Cotnniitment, and such items render title Unmarketable, CRA shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. §unitacylem. CRA, at CRA's expense, shall obtain a =rent boundary survey (the "Survey") of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an aura. If the Survey discloses encroachments on the Property or that hnprovemi,eama located thereon encroach on setback lines, easements, lands of arbors or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shad constitute a title detoect and shall be governed by the pnwisdons of Section 7.1 concerning title objections. Page 3of14 7 . 3 MMUS EMIL SELLER shall deliver to CRA the following documents and instruments within ten (10) days ofthe Eli set ve Date of his Agreement, except as epeoifosl y in dic te& 7.3.1 Copies of any reports or studies (including egineerhhR aavironm entat, soli borings, and other pbyaical barpec on reports), in SELLER' possemian or control with respect to the physical condition car aperatkm of the Property, if any. 7.32 Copies of all licenses, variances, waivers, permits (Wading but not limite to all soden water management permits, wethed resource permits, consumptive: use permits and wvheamental resource permits), aathariraions, and approvals required by iary or by any governmental or private atbodty having jurisdiction over the Property, or any peen thereof (the "Governmental Approvals'), which are material to the use or operation of the Property, !forty. 7.3.3 Prig to the Closing Date, SELLER shall execute and deliver to CRA any and all documents and instruments required by CRA, in CRA's sole and absolute discretion, which: Q) effactua to the transfer to CRA of those Governmental Approvals, or portions thereof which are applicable to the Property, that CRA dcairea to have assigned to it, and/or (ii) cause the Properly to be withdrawn from any Governmental Approvals. No liter than thihty (30) days prior to the Closing Date, SELLER- shall remedy, restore, and rectify any and all violations of the Governmental Approvals (melodies but not limited to any and all portions of the surfing water management system, mitigation areas or other items which do not comply with the Govermneahial Approvals or applicable roles), if any. SELLER warrants that Ibsen will not be at the time of Closing, any unrecorded instnuneoms affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. SIODM.QMM.Cataien CRA shall not be obligated to close on the purchase ofthe Property unless each ofthe following conditions (collectively, the "Conditions to Closing") ire &fin filtilled or waived by CRA in writing: 8.1. Reptesentationssmd Warranties, All of the representations and warranties of SELLER contained in this Agreement shall be true and corned as of Closing. 8.2. Condition of Pr+opgy. , The physical condition of the Property shall be the same on the date of Closing as cm the Effective Date, reasonable wear and tear excepted. 83. Pcmarg2n2cgegjos. At Closing, there shall be no litigation or administrative agency or other govetmnamst proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and aooepted by CRA. 8.4. C MIIHI ace with Laws an Resa The Property shall be in coanplianroe with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requires, licenses, permits and authorizations as ofthe date of Closing. SS. Ooarmancy. The property shall be conveyed to the CRA at time of Page 4of14 closing unoccupied. he SELLER hereby warrants that the want tenants are on a month4o- moath basis, were given proper notice to vacate and there are no leases an the property. 8.6 9lract Sae Coatiuuaoehy. This Agreement is oonthgent upon: (a) SELLER% lenders) and all other Iien boldec(s) (collectively "Seder's under'"') approving the Purchase Pdoe teens of this Agtoe eet and the HUD -I settiement atateme (b) Seller's Leader's agreement to accept a payoff which is leas than the balance dun on the loan or other indebtedness; and (c) Seller's Larder's ague rent to release and provide a saoidmitian of the martgsge(a) and/or other Ilea(s) encumbering the Property (the "M ge( ) upon apt of reduced parffamormt(s). Approval of; or agreement to, items (a) through (c) by Seller's Lender is relbrred to as "Short Sale Approval ". However, an approval by Seller's Loader which doe not provide a waiver and ooinptete release of any olaim(s) for a dalclanoy age Seller for sums due Seller's Lender under the Mortgage(s) as of the payoff date, or which requires additional terms or obligations eluting either party shall not be deemed "Shat Sale Approval" unless the party .afbeted accepts chose additional tams or obligations in writing. A copy of a Short Sale Approval accepted by Seller shall be delivered by Seller to CRA and Closing Agent within 3 days of Seller's receipt of such Shat Sale Approval. 8.6.1 Application for Approval of Short Sale. Seller shall, within ten (10) days after Effective Date, obtain from Seller's Lender their application forms for a "short sale ", and Seller will diligently complete and retwn suds forms to Seller's Lender within 5 days theireofter and promptly provide such additional documents as may be requested by Seller's Lender. 8.62 Status of Short Sale Approval Application. Seller hereby authorizes Seller's Lender to provide CRA and CRA's Closing Agent with ration stating the status of Seller's application for approval of a Shat Sale and notice of the approval(s) or denials) of suck application(s). Seiler shall promptly notify CRA when Seiler obtains Short Selo AppritiVal as provided herein, or denial of such approval from Seller's Lender. 8.63 Short Sale Approval Dandling Termination. if seller does not deliver written notice to CRA that Seller has obtained Short Sale Approval within sixty (60) days from Effective Date ("Short Sale Approval Deadline"), then either party may thereafter terminate this Agreement by delivering wdttan notice to the other party, and the Deposit will be refunded to CRA, thereby releasing CRA and Seller from all further obligations under this Agreement 8.6.4 Back -up Offers. During tae term of this Agreement, Seller shall not accept or enter into any back-up offers, contracts, options, or other agreements concerning the sob of the Property. 8.6.5 Acknowledgement by Seder. If Seller is advised of Seller's Lander's refusal to participate in any short sale, Seiler agrees to immediately communicate Page 5 of 14 this to CRA. 9. fX0IIING DOCUMENTS, Tine CRA shall prepare, or cone to be prepared, the Closing Documents set kora in this Section, except fbr documents prepted by the SELLER'S Tide Company. At Closing, SELLER shall execute and deliver, or cease too be e+tet,n1 d and delivered to CRA the following documents and butternuts: ts: 9.1. Dget A Warranty Deed ( the "Deed') conveying to CRA valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other creations of this other than the Permitted Ebxcptions. 9.2 Selbr'a Affidivrts. SELLER aball furnish to CRA an owner's affidavit attesting teed, to the beet of its knowledge, MO individual or entity has any claim alpine the Property radar the applicable cooetiuttion lien law; and that there one no parties in possession of the Property other than SELLER. SELLER shall also finish to CRA a non-foreign affidavit with respect to the Properly. In the eva t SELLER is usable to deliver its affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closing Statement. A dosing statement setting hrtb the Purchase Price, the Deposit, all credits, adjustments and proration between CRA and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute and deliver at Closing. 9.4. Qzragthre_Dgmag1, Documentation required to clear title to the Property of all liens, oncaonbranhces and exceptions, if any, other than Permitted Exceptions. 9.5. ,Additional Dom. Such other documents as CRA or the Title Company may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary. in order to close this transaction and effectuate the teams of this Agreement 1 C)RATEONS. CLOSING COTS 'LOSING PROCRD . 10. 1. rroredgm Ads, rants, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. CRA shall have the option of taking over existing policies of insurrara e, if assumable, in wbidh event premiums shall be prorated. Cady at Closing shall be increased or decreased as may be required by proration to be made through the day prior to Closing. Advance rent and security deposits, if any, will be credited d to CRA. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. 10.2 Ad Valorem Taxes. CRA and SELLER L.ER shall comply with Section 196295, Florida Statutes, with respect to the payment awaited ad valorem taxes for the year of closing into escrow with the Palm Beach County Tax Collectres Office. In the event that, following the Closing, the actual aarouat of asaassed real property tax on t Property for the currant year b higher than any estimate of such tax used lr purposes of the Closing, the parties shall re- pn+ouate Page 6of14 any amounts paid or aeedked based on such estimate as ifpsid in Novanber. eimil survive the 10.3. Certified, oanfrramed and ratified special aaaossrrwnt limos impeded by pubfro bodies as of posing are to be pad by SELLER. Pending liens as of Clotting shell be asetneed by CILIA. If the improvement has been fly completed as of the E ve Date, any pending Ike dual be caosidued certified, aoetihmed or ratified and SELLER shah, at Closing, be oherged an amount equal to the last estimate or aseessmamrt for the improvement by the public body. 10.4. ljgdggggeg, CRA shall be responsible for all documentay stamps an the deed, recording the deed and half dell gems& closing ammo (settismemt fee, courier fees, overnight package; eta). SELLER is meepnnsible for their awn legal Sees. MI other coats of closing shell be borne by CRA. 10.5 C a hig Pim edtae. CRA shall fad the Purchase Price subject to the cr edits, offsets and proration set forth berein. SELLER and CRA (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Chuang Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marled -up" Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6. At Closing SELLER shall obtain, or cause to be obtained, sstia cdon• or release of record of all mortgages, liens and judgments applicable to and encumbuing the Property. 11. R3 PRESE ffA 11 NS COVENANTS AND WARRAN 1EE Seller's Reprosaotatiamns and Wgrranties. , To induce CRA to enter into this Agreement, SELLER makes the following repmesaptations, all of which, to the beet of it's knowledge, in all material rejects and exoeppt as otherwise pa?avided, in this Agreement (1) we now true, and (ii) shall be true as of the date edit Closing unless SELLER mceives Inkrmaaion to the coritrirrY, and (iiii) shall survive the Closing. In that event, CRA shall be provided immediate notice as to the change to the following reprenentadons: 11.1 At all times ham the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Cane flee aid deer of any mechanic's or mataiehnen's Beans for work or materials fnnished to or contacted fior, by or on behalf of SELLER prior to the Closing, and SELLER.. shall indemnify, defend and bold CRA Number from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). ri 112 SELLER has no actual lmowiedge nor has SELLER nceived any notice of any litigation, claim, action or proceeding, actual or thresteeed, against SELLER or the Property by any orgnaization, person, individual or governmental agency which a add affect (as to any threatened litigation, claim, action or proem:din& in a matalally adverse Bahian) the use occupancy or value of the Property or any part thereof or which would otherwise relate to the Land. Page 7 of 14 11.3 SELLER has full power and atthorhy to enter into this Agemeneet and to assume and perform its obligations hereunder in this Agreement SELLER does not and will not conflict with or malt in the breed) of any condition or provision, or comdtute a delkmk adder, or scull lathe medal or imposition army Ben,ohnrger, or encumbrance upon any of the Praper(y or. assets of'lhe SELLER by raison of to teems of ay cadraet, monger, lion, hare, agreement, indenture, ibstr meet or judgment to which the SEILER is a petty of which h err ripens to be binding upon tho SE L13R or which alerts the SELL R; no sotion by aap► Wend, state or moniolpal or other governmental depertil cnt, nom nidsi n, booed, bureau or instrumentality is neoeassry to make this Assonant a valid instrument bid upon the SELLER in a000rdeooe with its terms. 11.4, ! ELLER repseaerts tlat SELLER will not, between the dote of this Agreement and the Closing, witbl:e t CRA'S prior written ranee.; which consent doll not be untessoaably withheld or delayed, except in the ordinary course of budems, aate any encumbrances an the Property. For purpose of this provision the tenn"encambrsaoes" shell man any liens, claim, options, or other encumbrances, andwaohmeds, »ghtnof -prosy, leases, assonants, covenants, com<Bti ns or moans. Additionally, BEL= represents Rot SELLER will not between the dnte adds Agreement, and the Closing take any notion to to nincte or. nietedally, amend or alter any eecisdng leases pa sandy in exbtahce, without the prier consent of CRA, which consent shall not be rmreasonably withheld or delayed. 115 SELLER reptesents that there are no parties other than SELLER in possession ofthe Property or any portion of the Property as a lessee. 11.6 SELLER shall not list or otibr the Property for sale or solicit or negotiate offers to purchase the Property while this Armlet is in effect. SELLER shall use its best efforts to =don m the Property in its present condition so as to ensure that it shall remain whbst a belly in the same condition from the conclusion of the forty- five (45) day Inspection Paled to the Closing Date. 11.7 SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Land by any etinititiok Orem, individual or governmental agency which would affect (es to any threatened litigation, claim, action or proceeding, in a materially adverse oration)) the use, occupancy or who of the Land or any part thereof err which would otherwise relate to the Land. 11.8 SELLER. represents that it has no actual knowledge nor has it received any notice that the Land has boon, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used limn, the team "Hazardous Material" shall man any substance, water or material which has been determined by any state, Metal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to all of those materials, wastes and stthstances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Depsrtraent of Transportation, and/or any other state or local governmental agency now or haeafier authorized to regulate matariais and substances in the enviresunent (collectively "Governments! Authority(l s)"). Page 8of14 11.9 SELLER repellents to CRA that the Lend is not subject to any deed re: tritons or declaration of restrictions tuning with the Land which would afflict the use attire Land and all title matins to which ms's property is subject to is at forth on Exhibit " " 11.10 Between the dude of this Agreement and the date of closing SELU3R will not file any application for a change of the meant zoning damification of the Lend. 11.11 Authaity. The execution tion and delivery of this Agraemeat by SELLER and the consummation by SELLER of the transaction c' nkruplated by this Agreement are within SELLER'S capacity and ell requisite action has been taken to make this Agreanact valid and binding on SELLER in aoomdaaoe with its tams. The penes executing this Agreement on behalf of SELLER has been duly authorized to acct on behalf of and to bind SELLER, and this Agreement represent(' a valid and binding obligation of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee shnpk title to the Property, fine and dear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional Warranties and Representations of SELLER. As a material inducement to CRA entering into this Agreeameut, SELLER, to lire be of SELLER' innormaaion and beliet hereby represents and warrants the following 11.13.1 There are no pending applications, permits, petitions, contracts, approvals, or other proceedings whir any governmental or quasi- goveromeotal authority, including but not limited to, CRA, municipalities, conches, districts, utilities, and/or federal or state agencies, concerning the use or ope diaa of; or tide to the Property or any portion tbaeof and SELLER has not granted or is not obligated to grant any interim in the Propanty to any of the foregoing entities. 11.13.2 Thorne are no facets bdleved by SELLER to be material to the use, coaddion and operation of the Property in the manner that it has been used or operated, which it has not disclosed to CRA herein, including but not limibed.to enrecoraded. instruments or defect in the condition of the Property which will impair the use or operation of the Property in any manner. 11.13.3 To the best of SELLER' knowledge, the Property and the use and operation thereof are in compliance with all applianble county and governmental laws, ordinances, regulations, licenses, permits and authonizadons, iochidmg, without men, applicable zoning and environmental laws and regulations. 12. DEFAULT. 12.1. Cm's .Default, In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph 123 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall have any further obligation or liabilities under this Agree moat, except fin' those expr+asrty provided to survive the termination of this Agreement provided, however, that CRA shall also Page 9 of 14 be responsible for the removal of any liens asserted against the Property by persona claiming by, through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held.by Escrow Agent most closely approximates the amount necessary to compensate SELLER. CRA and SELLER agree that this is a bona fide liquidated damages pro`rision and not a penalty or forfeiture provision. 12.2. Seller's Default In the event that SELLER shall fail to iblly and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, CRA may, at its option: (1) declare SELLER.' in default under this Agreement by notice delivered to SELLER, in which event CRA may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder or (2) seek specific perfonnanoe of this Agreement, without waiving any action for damages. 12.3. TTotice of Default. Prior to declaring a default and exercising the remedies described herein, the non - defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the delivery of notice' Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld If the default has not been cured within the aforesaid period, the non - defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this Section 12 shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to Seller: Andrew Luchey 8517 Estate Drive West Palm Beach, FL 33411 If to CRA: Vivian Brooks, Executive Director Boynton Beach Community Redevelopment Agency 710 Federal Highway Boynton Beach, FL 33435 With a copy to: James Cherof CRA Attorney 76 N.E. 5th Ave. Page 10 of 14 Dehay Beach, FL 33483 13. BRIOULIALMISBANKINMIRai The terms and condhaions of this Agreement are hereby made binding cm, and shill insure to the benefit of, the successors and permitted assigns of the Parties het etc. SELLER may not sedge its Wend in this Agreement without the prior wdtten consent of CRA, which shall not be unreasonably withheld. CAA shall have the right to assign this Agreement to the City of Boynton Beach (the "Crity") without the prior consent of SELLER and the CRA shall be released from any Anther obligations and liabilities under this Agreement The CRA may not assign this Agreement to any other party without the prior wrktat approval of Slate, which shin not unreasonably withheld. If CRA has been dissolved as an entity while this Agreement end/orthe attached Lease Agreement me in elect, the provisions of section 163357(1), Florida Shales, (as it may be amended firm time to time), shall apply. • 14. BRQUE,ffiga. The SELLER and CRA hereby state that they have not dealt with a real eat* broker in oomecGion with the txaasection contemplated by this Agreement and we not liable for a sales coampisdan. SELLER shall indemnify, defend and hold harmless the CRA $+urn and against any and all claims, losses, damages, costs or expanses (iaduding, without limitaiion, attorney's fees) of any kind or character arising out of or resulting from any agree heat, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing termination of this Agreement, 15. 15.1. For purposes of this Agreement, pollutant ("Pollutant") shell mein any hazardous or toxic substance, material, or we of any kind or any contaminant, pollutant, petroleum, petroleum prodact er petroleum by- product as defiled or regulated by environmental laws. Disposal (" Disposal") shell mean the release, storage, me, On g, die, or disposal of such Palluttmts. Environmental laws (' Laws") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulhdions or other governmental restrictions. 15.1.1 As a material inducement to CRA entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (1) That SELLER and oocupmts of the Propehty have obtained and are in filth compliance with any and all permits regarding the Disposal of Pollunsts on the Property or contiguous property owned by SELLER, to the best of SELLER' knowledge. (2) SEL.LE,R. is not aware nor does it have any notice of any past, • • present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER. is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on carpiguous property that Is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant acting the SELLER. property. Page 11 of 14 (3) There is no civil, aiminal or .dm niseadve action, adt, cam, demand, investigation or notice of violation pending or, to the be of that entity's lmoaledge, th reetened against SELLER or the Property relating m any way to the Disposal of Pollutents an the Property, any portion 1haeeo$ or on any antigens Property owned by SELLER. 16. hinigillifiBQM 16.1. rem& This Agreement, and any amendment hereto, may be executed in any mmaber of you trnparts, each of wldc6 shall be deemed to be an original and all of which shall, together, constitute are and the arras imbuement. The section and paragraph headings herein aontdned are ix the Purposes of identification only and shall not be considered in construing this Agreement Ra®heenoe to a Section shall be deemed to be a reference to the mire Sectioq unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless m writing es ee uted by Patties. This Agreement sets forth the entire agreement between the Pardee relating to the Property and all subject matter heroin and supersedes all prior and contemporaneous negotiations, uuxleretemdings and agreements, written or oral, between the Parties. This Agrreeaent shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Bunch County, Florida, or, should any cause of action be limited to +federal jarisdictian only, in the United States District Court for the Southern District Court of Florida. 16.2. Compyt tlon. of There. Any mere= herein to time periods which are not measured in Business Days and which are Less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 51X1 p.m. on the next Hill B1141 10118 Day. Time is of the essence in the performance of all obligations under this Agreed Time periods commencing with the Effective Date shall not include the Effective Date in the calculation Hereof. 16.3. Waiver. Neither the failure of a party to insist upon a strict peerhormanoe of idly of the tortes, provisions, COVelkiltS, agreements and . hereof; nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such berms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this .Agreement and the Closing. 164. Cnaettrctian of Aarccweet. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plum!, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 16.5. finefeldfity, If any provision of this Agreement or the application thereof Page 12 of 14 shall, for any meson and to any acted, be invalid or usenhieesble, neither the remahnler of this Agreement nor the applioatke of the pruviSico to other peaces, mldes or cieaaemarees shall be affected thereby, but instead shell be mdbreed to the maximum exams permitted law. The provisions of this Section shall apply to my ammdmalt of this Agreement. 16.6 amdsghtniteinkto. Handwritten peovieloos insseled in this A®rieemer and initialed by CRA and SELLER shall cool all printed provisions in conflict tinsmith. 16.7 Waiver celery togl, As an inducement to CRA agreeing to rimer into this Agreement, CRA and SELLER hawk waive trial by jury in any action or proceeding brat by either party agaime the other party pertaining to any matter whatsoever arising out *for in any way connected with ids Agreement. 16.8. littgaggealimandS120. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorney's fees and costs, wing those at the appellate level, shall be awarded to the prevailing party. 16.9 BiestingAnfihtrity Each petty hereby represents and wammts to the other that each person torecuting this Agreement on behalf of the CRA and SELLER has full right and bravfd authority to execute tWs Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 16.10 Bigagging. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. 16.11 Swivel. The covenants, warranties, representations, indemnities aid undertakings of SELLER set forth in this Agreement, shall survive the Closing, the deiiyery and recording of the SELLER Property Deed and CRA's possession of the Property. 16.12 SBLLgR Attommes Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own stearmay% fees and all costs, if any, incurred by SELLER. in connection with tbetransaction contemplated by thisAAgreement. Page 13 of 14 N WITNESS WHEREOF, the Parties have accented this Agreement as of the Weedy° date. BOYNTON BEACH COMMUNITY REDEVELOP1VJENT SELLER AGENCY 4 (1. BY: -.jar 1 LUCITP Print Name: Woodrow Hay Print Name: Gail Wavy • Tale: chair Dom: Date: /A /491. (d Witnesses: Witnesses: . 4%4 rI aM Witnesses: Witnesses: PrintAisdr2 Date: 31 i Witnesses: Winless= ' `' ► 1 ESCROW AGENT Goren, Chang Doody & Ezaol, P.A. By Print Name: H00Q9109047tWiv bus sad Sale Armlet* balmy a 1e -120) dec Page 14of14 PURCHASE AGREEMENT This Purchase Agreannmt "Agrcnant') is made and mtaed into as of the Edfbctive Date (haeiead0er defined), by and between BOYNTON BEACH COMMUNITY AGENCY, a pule* *gam medal pram to Chapter 163, Part EL, of t Plodale Statutes (hereinafter "CRA") and GAIL LUCHEY, a marled view (haraivadter "SELLER"). In coaaldesation of the mutual commas and agreements h rda sat South, the Parties hereto agree as ibllows: 1. ailigailiiiagaillirlalMart. SELLER Mom to sell and convey m CRA and CRA agrees to per hese and acquire inm SELLER, on the terms and conditions hereinafter set bib, the Properties Waled at 124 -126 NW 10 Avenue, Boynton Beach, Florida in Patin Beach County, Florida (the "Properties") and more peaticularly described u follows: .Let 3, len the Bast 7.5' mad the Beat 22.5' of Lot 4, Hilltop Mae, Aecordlog to the map or plat th e , as r conic f in Plot Book 24, Page 7t Public Records of Patna Beach Cora*, Merida 2. FURCHASF.TRIalAND PAYMENT, The Purchase Price to be paid for the Property shall be Seventy Thousand and 00/100 (*70,000.04) Dollars, payabble in cash, by wire transfer of United States Dollars at the Closing. 3. 3.1 Earnest Money Daoasit. Within five (5) Easiness Days after the a aeern on of the Purchase Agreement by both Purchaser and Seller CRA shall deliver to Goren, Charof, Doody & Ezrol, P.A. ("Escrow Agent ") a deposit in the amount of One Thousand Dollars ($1,00(1.04) Dollars (tae `aDejoeit"). 32 itaggliiallagaltinalkaatiklhrkz The DePeelt shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount against the Purchase Price. If this Agreement is terminated theft the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be iaramedistely refunded to the CRA. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non-dedhulting Party, and the non - defaulting Party shall have such additional rights, if any, as we provided in Section 12. 3.3 gnaw Agent. CRA and SELLER authorize Barrow Agent to reeve, deposit and hold funds in escrow and, subject to clearance, disburse them upon lope' authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Beamw Ageait wit not be Habie to any pason $or mIsdeiivery of eeca ed lsa ms to t RA and SELF..t, ®leas tha miadelivuy is due to B.crow Agatet'a willful breach of thin Agoeeno.nt or groea negligence. If Barrow Agent iudarpleade the wbJect na1 aar of the escrow, Baorow Agaatt will pay the Sling fees end coals tnm the deposit and will reoovier r.9aotable stbotoay'e fees and wale to bo paid flan the escrowed !fads whlt ate dhat�d ad awarded as oout oosb in S<vcr of the pt+svaihag patty. Alt claims agdeat Bscwow Agent w1 be aebiir d, ao Jong as BiQOw Agmit ocaee , to acbitrama. 4. 'FBC'IIVB DAT& The eslotivej dims of the Parahsae Adroaaeent is the date duet the BearowAg n+ceivaa the Escrow Deposit and BaceowAgertt evoeoatmea Ste Agtea n d . S. acisnio. Tlha pumlres sod al. isameaotion cclrte...ghmd baaein shall close thirty (30) days aft er the SBLI"sR receives Sbort Sala Appmvai, as provided heteio, (the " G 2o e i n g 1 , males e x t w t d e d b y caber p r o v i s i o n s of t h i s A g i e e m e n t ae b y wi U n agte inert, signed by both porno. 6. TITLE TOBB CONVBED. At (losing, S1R.L]R abell convey to CRA, by General Wananty faced oompiying with the requiraneats of Hoe lide Cammitnnatt (hc batter dtined), valid, good, marks abk and ioeurable dd lei fs. sim pk to the Property, flee and clear of any and all liens, eocwnbranoea, aoodidana, .aiIa, as stew ale, awaictlons rod other conditions axoept only the following (oollaotively, the "Permittd Exceptfo a"): (a) gaaal real eststc taxes and apocbal aaaoanments for the year of Cloning and abeequont years not yet due and Payable; (b) covenants, condidoae, eeaemwle, dedioatiena, righte- of.way and metmas of rvoord inducfvd on the Tick C'Annnilmaat or shown an the Survey (defined in Section 7), eo which CRA (tits to objoct , or whieb CRA agceea m aocopt, pursuant 13etxion 7.1 and Section 72 hereof. 7. JE.ASfflU1 Y PERIOD. The CRA, and its designees shall have sixty (60) days firm he Eflctive Date of flaws Agieeatcnt ('Feasibility Period"), at C.RA'a expense, to ntake hrquiries to detamine if the Property is suitable thr its intooded use and to enter upon tae Property, at any time and fiora time to tbne wwlh reasonable notice to SELLII( and so long as said iavastijtioo s do rat result m a bueinem !benup!>ath, tin perkcm a"Y sad all physicsd iupectkms, valuation eppia s&s and iaveeeigatIwn otlho Property, motudlng till not Jiiaibed to Phase I and Phase II investigations, wbich CRA may deem necceaaary. During this Feasibility Period, CRA may elect, in C RA's sole and abedute dhzetien, to taminata this contract and recevve back all Deposit. hereunder: If CRA ek s 1 Wminate this Agreernehrt in ac cordshhce with this Seddon, CRA shall: (i) Jeave the Property is su6iy dho condition existing one tfhe Effective Data, subjeot 1 uch disnebence as was reasonably neoesary or coavmient in he testing and invon of the Property; (11) 10 thr exbnt paacHcable, shall repair and aestore any damage caused to the Property by CRA'a testing and nv on; and (iii) rdease to SBGLER, at no cost; all rcports and other wad generated as a result of the C RA's besting and bwestigatiaa. C,RA hereby agrees to lndemnit and hold SELLER hermless from and agauast all skims, losses, ratpenees, demands and liabilhies, lncludln& but not limited to, atbor=aey's Sees, fe noaiparymnt for eervicen rendered to CRA (moluding, without limi4htion, any construction !Jams resulting tbeierom) or for damage m pawns or property (eu*ct to the 110*atioa on pactioabitfty provided above) arising out of CRA's inveatlgation of tac Property. However, CRA's indoniflation obligations shall not ahuaed its statutory lrnits as provided within Section Page 2 of 14 768.28, Flodda Sts1tdve, sad CRA does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold OA hawks; foam and spinet all chase, looses, expenses, demands and liabilithe, including, but not limited to, attorney's fes, for nonpayment fir services rendered to SELLER or for damage to persons or property (Mint to the lint li tiion on practicability provided dam) arising out of CRA's invaadgstion of the Pniperty. SELI.BRS' obligation under this Section shall survive the telminatlom, expiasdon or Closing of this Averment 7.1 nhatedge• Within twenty (20) days of the BBbctive Date, CRA shall (*tidoo, at the CRA's swore, ftom a Title Company chats by CRA (lei+ 'fide Company"), a Tftle Commitment covering the Property and proposing to insure CRA in the amount of the Purdue Price subject only to the Pandtied Exceptions, together with complete and lagRrhe copies deli laetnrmaurts ideated as conditions or exceptions in Schedule B of the Title Commitmern. CRA andl examine the Tile Commitment and deliver writen notice to SELLER no later than thirty (30) days agar the Efllboohve Date notitl►ing SELLER of any, objections CRA has to the condidon of tide (hour "CRA Title Objections"). If CRA fails to deliver the CRA Title Objections to SEU.I3R widin the aibreasid review period, title shall be deemed accepted subject to the coalitions sat Axe in the Title Commitment. If CRA thnely delivers the CRA Title Objections, then SELLER shall have thirty (30) days to diligently and in good faith undertake all neceemry activities to cure and remove the CRA Tide Objections (hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured and =loved, the CRA Title Objections within the Cure Period, to the satisfiction of CRA, then CRA„ in CRA's sole and absolute disunion, shall have the option of (i) extending the Cure Period and the Closing ibr one additional thirty (30) day period, or (ii) accepting the Title to the Property as of the time of Closing or ( iii) canceling and terminating this Agreement, in which case, the Deposit shall be returned to CRA and the Parties shall have no further obligadone or liability hereunder, except for those eatps+essly provided herein to survive termination ofthis Agreement. Prior to the Closing, CRA shall have the right to cause the Title Company to issue an updated Title Commitment ("Tide Update) covering the Property. If any Tdie Update contains any coodidofas which did riot appear in the Title Coromitinent, and suich items render title unmadoetable, CRA shall have the right to object to such new or difTeurent conditions in writing prior to Closing. All rights and ofhjectlons of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. Survey Review. CRA, at CRA's expanse, shall obtain a current boundary survey ( the "Survey") of the Property, indicating the number of sores comprising the Property to the nearest 1 /100th of an acre. If the Survey discloses encroachments on the Property or that improvernents located thereon encroach on setback lines, easements, lands of others or violate any fictions, covenants of this Agreement, or applicable govenanentat to guldbms, the saline shall constitute a title defeat and shall be governed by the provision of Section 7.1 concealing title objections. Page 3 of 14 73 $lli,j SELLER atoll deliver to CRA the Mowing documents and Lrstrumessb within ten (10) days ofihe Motive Date Otitis Agtessne* erooept as specifically indicated: 7.3.1 Copies of any warts or etudes (including engineering, envinoamaodl, soil bodngs, and other Physical inspection repots), in SELLER' proemial or control wfdi raped to the physical condltion cc operation of t he Property, icy. 732 Copies of all &enem but not limited to all surface water management - peewits, wetland resource pernsfs, consumptive use permits and envkenmeotd resource permits), audporiatioaa, and approvals required by Inv or by any governmental or private authority lravhng Jtuhdktiaa over the Property, or any portion thereof (the "G ve nmartt d Approvals'), wrbich are material to the use or operation of the Prup' arty, if any 7.3.3 Prior to the Closing Date, SRLLSR shall execute nod deliver to CRA any and all documents and instruments required by CRA, in CRA's sole and absolute discrction, which: (1) effectuate the trader to CRA of those Governmental Aj u ovals, or portions thereof which: are applicable to the Property, that CRA dashes to have aaeigeed to it, and/or (0) cause the Property to be withdrawn from any Govt Approvals. No lamer than thirty (30) days prior to the Closing Date SELLER shall remedy, restore, and rectify any and all violations of the Govermnental Approvals (including but not limited to any and all portions of tee swthca water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SRLLER. venues that there will not be, at the time of Closing, any unrecorded instruments aflix:tahg the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. S. CONECICaLZUMOSIM C A shad not be obligated to close an the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing") at+e either Willed or waived by CRA en writieg: 8.1. Representations and Warranties. All of the rapdeahtstions and warranties of SELLER contained in this Agreement shall be try and correct as of Cloning. 82. Condition of Prooerty. The physical condition of the Property shall be the same on the data of Closing as on the Bf be tive Date, reasonable wear and tear excepted. 8.3. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Property shall be in compliance wi h all applicable Olden!, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Cling. 83. Occupancy. The property shall be conveyed to the CRA at time of Page 4 of 14 closing unoccupied. The SELLER /tetchy tivaaauta that the cereal team* are on a month -to- month bens, wens given peeper aortioe to vacate and these are no leases on the pe+o Tarty. 8.6 Shari Sale This Agmc eat m =Worst upon: (a) SELLER's lender®) and all other lien holder(s) (calletai'ely " Seler% Lender") approving the Purchase Price reams of tine Agreement and the HUD-1 settlements a (b) Seller's Lender's agreement to accept a payoff which is lass than the balance den on the loin or other indebtedness; and (c) Seller's Lender's agreement to release and provide a satisfaction of the mortgages) and/or other lien(s) encumbering the Property (the "b+ortgageo ) upon receipt of reduced patyaffamoat(s). Approval at or agreement to, items (a) through (c) by Seller's Leader is tethered to as "Short Sale Approval". however, an approval by Melee Leader width does not provide a waiver sad complete release of any claims) fbr a deficksey against Seller for gums due SeJiar's Lender ender the Mortgage(s) as of the payoff date, or which requires additional tons or obligations aft/soling either pasty shall not be downed "Mott Sale Approval" unless the party affected accepts those additional terms or obligation' in ',raft. A copy of a Short Sale Approval accepted by Seller shall be delivered by Seller to CRA and Closing Agent within 3 days of Seller's receipt of such Short Sale Approval. 8.6.1 Application for Approval of Short Sale. Seller shall, within ilea (10) days after Effective D ate, obtain from Seller's Lander their application forms for a "short sale', and Seller will diligently complete and return ouch forms to Seller's Leader within 5 days tinerea ter and promptly provide such additional documents as may be requested by idler's Lander. 8.6.2 States of Short Sale Approval Awn. Seller hereby authorizes Seller's Lender 10 provide CRA and CRA's Closing Agent with information stating the states of Seller's application for approval of a Short Sale and mice of the approval(s) or denial(s) of arch application(s). Seller shall promptly notify CRA when Sailer obtains Short Sale Approval as provided heroin, or denial of such approval from Sellers Letider. - - 8.6.3 Short Sane Approval Deadline; Termhaatlaa. If seller does not deliver written notice to CRA that Seller has obtained Short Sale Approval within sixty (60) days fom Eflbctive Date ("Short Sale Approval Deadline"), then either party may thereafter terminate this Agraetncnt by delivering written notice to the other party, and the Deposit will be refunded to MA, thereby releasing CRA and Seller from all further obligations under this Agreement. 8.6.4 Back -np Offers. During the term of this Agreement, Seller shall not accept or enter into any back -up owe, contracts, opt*ns, or tea' agreements concerning the sale ofthe Property. 8.6.5 Acknowledgement by Seller. If Seller is advised of Seller's Lander's refusal to participate in any short sale, Seller agrees to immediately eommunicrte Page 5of14 this to CRA. 9. Tibe CRA S Pelee; or aria to be peeper ed, the Closing Documents set forth in this Sadioo, except fir doaomnts prepared by the SELLER'S Title Company. At Closing, MILLER Shell etcearte and deliver, or cause to be executed and defrosted to CRA the following datums* and iestnmrents: 9.1. pig A Waventy Deed (the "Deed') conveying to CRA valid, good, marketable and insarable fee simple tide to the Property free and dear of all limas, encumbrances and other conditions oftitle other tlam the Peanitted Ezcepdona, • 92 Seller's Affidavits. SE[LER shell famish to CRA an owner's affidavit attesting that to the bad of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER Shall also furnish to CRA a non - foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits ref ended above, the same shall be deemed an uncured tide objection. 9.3. Oggiegligtomeol,. A closing statement setting fiw h the Purchase Price, the Deposit, .0 credits, adjustments and paretic= between CRA and SELLER, all costs and expenses to be paid at Closing, and the net proceed. due SELLER, which CRA shall also =cute and deliver. at Closing. 9.4. r Documentation required to clear title to the Property dell Hems, encumbrances and exceptions, if any, other dram Permitted Exceptions. 9.5. MkkeigUlgomogigg, Such other documents s as CRA or the Title Company may reasonably request that SELLER execute; and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this won and effectuate the terms of this Agreement. 10. pRORATTQ1 &. CLOSING COSTS AND CC.OillNe 10.1. falogigna, Assessments, rents, interest, inatnance and other expenses of the Property shalt be prorated through the day before Closing. CRA s have the option of taking over eadsthng policies of insurance, E assumable, in 'kith event prmnians shall be prorated. Cash at Closing shall be increased or deceased as may be required by prcnations to be made through the day prior to Closing. Advance rent and scanty deposits, if any, will be credited to CR& Taxes .ball be prorated based upon the current year's tax with due allowance made for maximum allowable discount. 10.2 Ad Valorem Tura. CRA and SELLER shall comply with Section 196295, Florida Statutes, with respect to the payment of prorated ad valorem tames for the year of closing into escrow with the Paim Beath County Tax Collector's Office. In the evert that, following the Closing the actual amount of assessed teal property fax an the Property fir the current year is higher than any estimate of such tar used for pogroms of the Closing, the patties shall re- prorate Page 6 of 14 any amourrta paid ar iaedbed based on such animate as if paid in November. This shall survive the 103. katausammieu Certified, confused and ratfsd special asseennent tiers impound by public bathes as of Chang are tea be paid by SELLER. Penang liens as of Closteg abal be amaum ed by CRA. If the innoovament buss been iubehmtialiy completed as of the Emotive Date, uiy pending lien abaft be considered certified, confirmed or ratified and SELLER shall, at Closing, be Butted an amount equal to the last es4lmate or assasnment fir the improvement bye public bock,. 10.4. gimbaled& gimbaled CRA abaft be respaoaile fir all documentary strops on the deed, recording the deed,and half of all general closing even= (adtlehneat the, courier pees, oveniigbt page, e, etc.). SELLER is responsible for their own legal tees. All other costs of closing shell be borne by CRA. 10.5 Clo9a_na P CRA shall fired the Purchase Price suidect to the credits, alas and pro 'doss sat forth haeln. SELLER and CRA (as applicable) 'ball execute and deliver to Closing Agent the Cloning Documents. The Closing Agent shall, at C1osi (i) disburse the sale proceed' to SELLER; Oil deliver the Closing Documents and a "marked-up" Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable Closing Dominants in the appropriate public records. 10.6 Ejpilmg Made e' sod 4tthec Liana. At Closing, SELLER shall obtain, or cause to be obtained, or release of record of all more, liens and judgments applicable to and encumbering the Property. 11. To induce CRA to enter into this Agreement, SEI.LER makes the ibiowing representations, all of which, to the best of it's knowledge, in all anaterid respects and except as otherwise provided in this Agreement (i) are now true, and (i) shall be true as of the - date of the Closing unless SELLER receives - information -to the contrary, and (iii) shall survive the Closing. In that event, CRA shall be provided immediate notice as to the change to the following representations: 11.1 At all times from the Bffiaotive Date until prier to Closing, SELLER shall keep the Property (whether before or after the date of Closing) five and clear of any mechanic's or ma ialmea's lions far wank or materials furnished to or reran ed the by or out behalf of SELLER prier to the Closing, and SELLER shat[ indeanmii r, defend end hold CRA harmless fimrn and against all expense and liability in connection therewith (including, without limitation, coot Costs and reasonable attonzey's fees). 11.2 SELLER has no actual lmowledge nor has SESSER received any notice of any lemon, claim, action or proms actual or threatened, against SELLER or the Property by any ration, perry individual or govemme lal agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy orvalue of the Property or any part thereof or which would otherwise relate in the Land. Page 7 of 14 11.3 SELLER has fidl power and authority to ester into this AAeemett and to assume and pall= is obligations hereunder b this Ag aemeat. SELLER does not and will not conflict with or mak in the breach of say =aim or pmvbk n, a oomtilule i delimit under, or reetdt airs action or impos iva claw lien, drone, araoesmbaaooe upon any ofthe Property or assets ofthe; SELLER by town of the terms of say contract, mortgage, lien, lean; arignmt, hmtmment or fidgeted to which the SELLER is a party of wbide ht or pup to be binding upon the SELLER or which afibots the SELLER; no arson by any fiodemi, state or municipal or other govrornnrmtat dgiarmteat, commission, bawd, tumor or inalnmagdity is necessary to make this Agreement valid instrument binding upon the SELLER in aooad■aae with la times. 114 SELLER represents that SELLER will not, between the dale of this Alinement and the Closing, without CRA'S prior wrblen consent, which commit drill not be unreasonably withheld or delayed, exalt in the ordinaay coma of business, agate any woes on the Property. For puepoeent oftbis provision the term "enoeembnmcea" shall mew any lens, claim, options, or other encumbrances, eeoca+oseh cants, f4vq', keasehs, eneeomms, covenants, conditions or restrictions. Addidonally, SIBLLER represents that SE.L.ER will not; between the date of this Agreement, and the Closing take any action to to ninate or matedaly, amend or alter any eg g leases presently in *Stance, without the pdar consent of CRA, which consent shall not be unreasonably withhold orddayed. 11.5 SELLER represents that them are no parties other than SELLER in possession ofthe Property or any portion ofthe Pnupaty as a lessee. 1L6 SELLER shall not list or or the Property for sale or solicit or negotiate offers to purchase the Poverty while this Agreement is in effect. SELLER dull use its be ants to maintain due Property in its pretext conditfan so as to ensure that k abaft amain substantially in the same condition from the oonc1uslon dew forty-five (45) day knpeetian Period to the Closing Date. 11.7 SELLER has no actual lmowledge nor has SELLER received any notice of any lit ation,_ leim, action or proceeding, actual or orlon SELLER or the Land by any organization, person, individual or governmental agency which 'wield affect (es to any threatened litigd1on, claim, action ar proceeding, in a materially adverse Gablorh) tine use occupancy or value of the Land or any part thereof or which would otherwise relate to the Lauri. 11.8 SELLER represents a cents that it has no aowal knowledge nor has it received any nodes that the Land has been is presently or is oohed to be utilized as a reservoir of hazardous material. As used herein, the tern "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, she U.S. Department of Transportation, and/or any other state or local governmaaed agency now or baeafer authorized to regulate msterla1s and substances in the environment (collectively "Governmental Authority(ies)"). Page gof14 11.9 SELLER represents to CRA that the Land Is not subject to any deed restrictions or decimation of restrictions rtt deg with the Land whist would Ant the use of the Land. 11.10 Between the date of this Agreement and the dose of doting, SELLER will not Sk any appliatioa Liar a those of the post zoning clamifcodion otthe Land. 11.11 Authority. The eceontion and delivery of this Agreement by SELLER and the consummation by ELM of the ttaesaotion contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this A,greament valid and binding on SELLER in accords= with its toms. The person executing tkia Agreement on behalf of SELLER has been dully authorised to act on behalf of rid to bind SELL131t, and this Agreement represents a valid and binding obligrlicn of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple tide to the Property, flee and eke" of all liens, encumbrances and reattiddiona of nay kind, except the Pennitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional warranties and Represeotadons of SELLER. As a mania' i inducement to CRA entering into this Ate, SELLER, to the be of SELLER.' Information and belies; hereby represents and warrants the following: 11.13.1 There are no puling moons, penults, petitions, contracts, approvals, or otherproceedtngs with any govetumesdal or quasi-governmentd Syr including but not limited to, CRA, municipeiitles, codes, districts, utilities, and/or Bedard or state agencies, concerning the use or operation 14 or iitie to the Property or any portion thereof and SELLER. has not granted or is not obligated to grunt any interest is the Property to any of t he foregoing entities. 11.13.2 Them are no &els be iev ed by SELLER to be material to the use, dentition and operation of the Property_ in the mums that it has been cued or operated, which it has not disclosed CRA herein, including but not limited eo nareceided err de to in the oondttion oftbe Property which will impair the use or operation of the Property in any manner. 11.133 To the best of SELLER' larowlccdge, the Property and the use and operation thmeof are in compliance with all applicable county and governmental hews, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and envieoomentsd laws and reguladans. 12. DE19%.U4,T, 12.1. CRA's De anit. In the event that this transaction fails to dose due to a wrongful refusal to close or di* nh on the part of CRA, subject to the provisions of Paragraph 12.3 below, the Deposit actually than being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed ilelu1dated damages and, thereafter, neither CRA nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that CRA shall also Page 9 of 14 be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Esteem Agent most closely approximates the amount necessary to compensate SELLER. CRA and SEIS.I3R agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. $ellyr's Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER'S representations are untrue or inaccurate, then, notwithstanding anything to the contrary dined in this Agreement, CRA may, at its option: (1) declare SELLER' in default under this Agreement by notice delivered to SELLER, in which event CRA may terminate this Agreement and demand that the Deposit be returned, including all intent thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. NegmoiDeduA Prior to declaring a default and exercising the remedies described herein, the non - defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the deli* cry of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party may exercise the remedies described above. 12.4. Survival The provisions of this Section 12 shall survive the termination of this Agreement 13. NOTICES. All notices required in this Agreement must be in .writing and shall , be considered delivered when received by certified mall, return receipt requested, or personal delivery to the following addresses: If to Seller: Andrew Luckey 8517 Estate Drive West Palm Beach, FL 33411 If to CRA: Vivian Brooks, Executive Director Boynton Beach Community Redevelopment Agency 710 North Federal Highway Boynton Beach, FL 33435 With a copy to: James Cherof CRA Attorney 76 N.S. 5th Ave. Page 10 of 14 Delray Bach, FL 33493 13. MittntiiiStigailaiCINAMINKL lorms sad oaadihiars of this Agteemeot are he eby made blinding on, and dell inure to the benefit oil the soeceaaora and Agreemest permitted sedges of the Peades haste. SEIM may not reign its f v prior written conga o CAA, which not be imoanon ► � CRA dull have the right to assign this Agreement to the My of Boynton Basch (the "City") without the prior consent of U' and the CRA shall be released from any Anther obligations and liabilities under this Agreement The CRA may not amigo this Agreement to any other party without the prior written approval of SELLER, which shall not unramondnly wit -Meld. If CRA bas been distallved as an entity while tiler Agreemsrrt and/or the aaehed Lease Agreement are in nilitet, the provisions emotion 163357(1), Florida Statutes, (as it may be amended from time to dense), shall apply. 14. $R. The SELLER and CRA hereby state that they lave not dealt with a real eaten broker in oonetection with the traraotioa conneraplsted by this Agnomen and ate not liable for a sales commission. SELLER shell indemni j defend and hold harmless the CRA from and against any and all claims, losses, dames, cogs or aapecafes (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, ammgeme d or underetendang alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of the Agreement. 15. ButintimunticuAlim 15.1. For purposes of this Agreement, pollutant ('Pollutant") shall mean any .hazardous or toxic substance, material, or waste of any kind or any collilimiersoi; pollutant, petroleum, petroleum product or petroleum byjntduct as defined or regulated by eavkonmeatal laws. Disposal eDispoeai') shell mean the Weave, storage, use, handling; discharge, or disposal of sudr Pollutants. Eaviromnadai laws ("13nvitonmetial Laws') shall maul any applicable federal, state, or local laws, states, ordinances, rules, regulations or other gavaranent l 15.1.1 As a Vial iraduceonent to CRA entering into this Agreement, SELLER hereby warrants and represents the following, as at (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all perndts regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, ER, to the best of Ste' knowledge. SELLER is not aware nor does it have any notice of any past, presort or fitture events, ) conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any pest, present or fire events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or Braes a baits ihr any der, demand, cost or ordinal relating to the Disposal of cry Pollutant affecting the SELLER property. Page 11 of 14 (3) There is no civil, a heal or administrative action, suli claim, demand, investigating or notice of violation pending ar, to the beet of that entity's knowledge, threatened against SELLER or the Property relating in vary wary to the Dame of Pollutamta an the Property, any portjoa thmeo( or on any contiguous prapety owned by SELLER. 16. MISS$. 16.1. Qgg rd, This Agreement, and any amendment hereto, may be etceoused in any number of oauoterparte, each of which shill be darned to be an origins' and all of which shall, together, oohs one and the same Wit. The section and pasgraph headings herein contained am for the purposes of idaratifaoatien only and shall not be considered In construing this Agreement. Rance to a Section shall be deemed to be a re ference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or efibct unless in writing executed by Parties. This Agroement sets firth the entire agreement between the Parties salting to the Property and all subject matter hernia and supersedes all prior and contemporaneous wash, understandings and agreements, written or oral, between the Parties. This Agreement shall be inbaapmted in acootdsaaoe with the laws of the State of Florida The Parties herieby agree tint jurisdiction deny litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Chasit in and fir Palm Beach County, Florida, or, should any came ofac ion be limited to federal jurisdiction only, in the United States District Court fir the Southern District Court of Florida. ' 16.2. Caaumtation of Tbna Any tefrBence herein to time periods which are not measured in Business Days and which we less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thaicof. Any time period provided for in this Agreement which ends on a Satauday, Sunday or legal holiday shall erased to 5:00 pm on the next full Business Day. Time is of the essence in the pertixnisnce of all obligations under this Agreement Time periods commencing with the BfPecive Date shall not include the Effective Date in the Waded= therooL 16.3. Wen, Neither the Mute of a party to insist upon a strict pertbrmance -of any of the teens, provisions, covenants agreements-end conditionshereef the acceptance of any item by a patty with knowledge of a breach adds Agreement by the other party in the performance of their respective obligations heareunder, shall be dewed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or defiant in any of such terms, pravis ions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 16.4. gnangtiese_d_Agnolie& The Parties to this Agreematt, through counsel, have participated freely in the negotiation and pr op hence£ Neither this Agreement nor any a mendmcrt hereto shall be more strictly oanstnued ago any of the Parties. As used in this Agreement, or any snendment hereto, the maaotiline shell include the feminine, the singuh r shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement drat =prosody provide that they survive the Closing shall not map into the Deed. 16.5. S Many provision of this Agreement or the application thereof Page 12of14 shell, fir any moon and to any eat be invalid or unea&aroeable, neither the remainder of this Agreement nor the eppliaetian of the pavilion to other persons, entities or eitmensianoea eball be aided thereby, but instead doll be enthxeed to the mkt anent permitted by law. The provisions ofttis Section dell apply to any amendment offish; Agreenorent. 16.6 liegdodgmaindeigni H■adwritten provisions inserted in this Agreement and mltialed by CRA and SELLER dealt ooatzvl all plated punishes in conflict therewith. 16.7 wager of iuey 1 As en inducement to CRA s meing to enter rota this Agteerne t, CRA and SEELElt.heeeby waive trial by jury in say scum or peuoeeclhig brought by either patty $e other peaty pertaining to uiy mater VAIMOVVer adeing out afar in any way connected wilt this Agteeae et. 168. Attomev's Fee' and C'.aate. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable eporoey's fees and costs, including those at the appellate level, shall be awarded to the prevailing party. 16.9 BingingAnandlx. Each party hereby minicab and warrants to the other that each person executing this Agreement on behalfof the CRA end SELLER has fall right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 16.10 Reenuting. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. 16.11 The covenants, warranties, cementations, index aides and underialdngs of SELLER. set fads in this Agreement, shall survive the Closing, the delivery and recording of the SELLER Property Deed and CRA's possession of the Property. 16.12 ;ELM Attorney's Feces and Costs. SELLER acknowledges and agrees that SELLER shall be responu b1e for its own attomey's ibes and all costa, if any, incurred by SELLS rn conne Lion with the transaction conteiaplitod ty this Agreement. Page 13 of 14 ATTACHMENT III IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. BOYNTONBEACH COMMUNITY REDEVELOPMENT SELLER AGENCY By: Print Nmne: Woodrow Hay Print Name: Gall Luchey I de: Chan Date: Date: Witnesses: witnesses: 4� Witnesses: Witnesses: Mi ler ESCROW AGENT Gotta, Cherof Doody & E2a+ol, P.A. By: Print Name: DNT:dnt HA200 and Sale Agre n tL.eh (124- 126)doc Page 14 of 4 41 x,, r r a f » . y , aim.' 4 w M4 ',.. mikui y t . .. r r +_ ,. , ...:. a++► 'wow" , a ^, , # e ,..: , :.„ ....: ,.., .. ■ iKaw w .4. . as.. • ' aye. l''' .. ,'.: • :r, : 3 F ` i 1 �, •� a B '1 1: TO Ki wwr.II 1 (I ` H Lr.: f��� a� k CRA BOARD MEETING OF: February 14, 2012 Li Consent Agenda !X Old Business J J New Bodneu 1 j 'Apt( 11 Executive Director's Report I SUBJECT: Update on Code Lien Foreclosure Matter on Luchey Property Located at 118 and 128 MLK Brvd. and Consideration of Offering Lender $140,000 to Purchase Both Properties SUMMARY: The City has code liens on the two above - referenced properties. The two properties are adjacent to the Sara Sims Memorial Park and the recently acquired Brandom property that was demolished and deeded to the City to add to the Sara Sims Memorial Park. These two properties are adjacent to the Brandom property. (See Attached Map.) There is no guarantee that the lender will acoept the offer. However, due to the fact that these properties have been such a nuisance to the community staff feels it is important enough to make the effort to obtain them. Attached is a memorandum from the City attorney regarding the issue. FISCAL IMPACT: $140,000 plus customary closing costs and demolition. CRA PLAN, PROGRAM OR PROJECT: The Heart of Boynton Community Redevelopment Plan. RECOMMENDATIONS /OPTIONS: Staff recommends that the Board approve $140,000 to the mortgage lender for the two properties. Vivisaln L. Brooks �. Executive Director T :AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS1Completed Agenda Item Request Farms by MeetinglFY 2011 - 2012 Board Meetfrgs February 20121Ludhey.doc CITY OF BOYNTON BEACH City Attorney's Office MEMORANDUM TO: Jose A. Rodriguez, Mayor Members of the City Commission Members of the Boynton Beach Community Redevelopment Agency Board of Commissioners CC: Lori LaVerriere, Interim City Manager Vivian Brooks, Boynton Beach CRA Executive Director FROM: James A. Cherofy City Attorney pie David N. Tolces, Assistant City Attorney' ?..) DATE: January 4, 2012 RE: City of Boynton Beach ( "City ") /Foreclosure of Code Compliance Liens on Property Owned By Andrew and Gail Luckey - 118 NW 10 Avenue and 124 SW 10 Avenue In 2009, the City filed a foreclosure action against Andrew Luchey and Gail Luckey seeking to foreclose the code enforcement liens which have been recorded in the Public Records of Palm Beach County against the above referenoed properties. Since the time of the filing of the litigation, the City has attempted to negotiate a resolution of this matter with Mr. and Mrs. Luchey. Mr. and Mrs. Luckey offered to convey the property to the City subject to the existing mortgages on the property. The Lucheys agreed that they would not be entitled to any proceeds from the conveyance of the properties to the City. The two properties which the City filed the foreclosure action against are located at 118 NW 10 Avenue and 124 NW 10 Avenue. Based upon appraisals obtained by the City, the appraised value for 118 NW 10'" Avenue is $40,000.00, and the appraised value for 124 NW 10" Avenue is $70,000.00. M this time there are mortgages recorded against each property. The current payoff amounts for each mortgage is approximately $130,000.00. As the appraised values for each lot are below the current mortgage pay off amount, it would not be reasonable to offer to pay off both mortgages in consideration of the Lucheys conveying the properties to the City. Therefore, it was suggested at mediation that the City, with the financial assistance of the CRA, offer to pay the mortgage company a lump sum of $140,000, in an effort to pay off both mortgages. In order to have the mortgage company consider the proposed settlement offer, however, the City must make a written offer to the mortgage company. Therefore, at this time, our office is requesting authorization from the City Commission as well as the CRA Board of Commissioners to make such a settlement offer to the mortgage company. lithe City Commission and the CRA Board grant the authorization, ow office will forward a settlement proposal to the mortgage company with the goal of having the bank release both mortgages for a total lump sum payment of $ 140,000.00. The Lucheys would then convey the properties to the City. The Lucheys will not receive any compensation for the conveyance of the properties to the - City. If approved by both the City and the CRA, and accepted by the mortgage company, the CRA would provide the funds necessary to pay off the mortgages and acquire the properties. If the City Commission would rather have these settlement discussions in a closed session pursuant to Section 286.011(8), Florida Statutes, we will make the necessary arrangements to do so. If you have any questions or concerns, please do not hesitate to contact our office. DNT:kml H:1200910904713Commision Updsie - settlenentdoo Pahn Beach County Property Appraiser Property Search System Page 1 of 2 f , - Property In'.?oj.mation Location Addrea*: 118 W MARTIN LUTHER KING JR BLVD VOW M Municipality: BOYNTON BEACH C Parcel Control Number: 08-43-45 -21- 09-000 -0011 r 11 laa Wan 1 Subdivision: HILLTOP VILLAGE IN Reverse Side O;Yicle. Records 3ook 14586 Pave: 714 Salt: Dec Dec-2002 ` 'el ;,seaj_asis HILLTOP VILLAGE W 7.5 FT OF LT 1, .T 2 & E 7.5 FT OF LT 3 Z.)- -wrier 7r1' iann:1t or, :lame: LUCHEY ANDREW & A8 OIAN15r5 : malting hddiress: 8617 ESTATES DR WEST PALM BEACH FL 33411 6537 w - Sexes no:e 3ook /"'agar ?ricp E :r Dec-2002 .ti $121,000 WARRANTY DEED LUCHEY ANDREW & Aug -2000 :12024;30 3Q1 $89,000 WARRANTY DEED BOSCH SANDRA Aug -1983 WY $24,000 WARRANTY DEED E'yaemptlon information Unavailable. property ffor,Tiotior ' Tax Year Improvement value: 1 . : : �- rT 1�utra3er of units: 2 %-end Value: *To") Sgli ire e..': 21110 Total Market. Value: mir 31ucjj« , -r 0.17 * May indicate living area in use Cogs. 0800- MULTIFAMILY < 10 UNITS l residential properties. All values ir+e as of January 1 each year 1,;.:1:: .. ...` . `'. i5:741c,i ' ::i.k..' ,C lax Year: 2011 2010 Milt Assessed Value: $71,377 $79,4$4 $126,257 Z xempdon Amount: 70 $o i0 Taxable value. $76.377 $79,484 $125,257 , ■ Palm Beach County Property Appraiser Property Search System Page 2 of 2 fax r e.a f _ i 2.0 Ad Valorem: 2010 2029_ , *1,735 $1,756 #3,752 5 r Non Ad Valorem: #374 #324 $310 1 p Total Tax: #5.109 $2,110, #3,062 - DX cQA r W.bSI �E NOTE: Lower the top and bottom margins to 0.25 on File - >Page Setup menu option in the browser to print the detail on one page. Palm Beach County Property Appraiser Property Search System Page 1 of 2 P ithl;Ils4 %=?_. - - , --- - Property 7'1°r:11M:ion Location Address: 124 W MARTIN LUTHER KING 3R BLVD View Nap municipality: BOYNTON BEACH Celeittele At PAY— i Pi.rcel Control Number 08-43-45-21-09-000-0031 , 2011 Reposed 1 S 4; t. $ V I .. ton: HILLTOP VILLAGE IN illis WWI Reverse Side Official Records Rook: 14559 Paves 1192 Sale Date: Dec-2002 Heip Mat1.2~124pre. HILLTOP VILLAGE W 42.52 FT OF LT 3 & E 22.5 FT OF LT 4 ., :v7aer "Zrtf4 M anie LUCH 17 " GAIL AV TES DR WEST PALM BEACH FL 33411 6537 Mailing Addre$s: 8517 M Ouutent ) - .iales Znftr Saks Date Boolt/PPge rrfce $ ale Tug °wryer m Seas 1 ; Dec-2002 jy,551/.1,4 $120,000 WARRANTY DEED LUCHEY GAIL Dee-1993 W_034/C1146 527,300 STATE DEED Mar-1993 9/:.1 5100 WARRANTY DEED i Fli:GMTIp i tg,2 -, Exemption Information Unavailable. - Tax Year: MEM. ,ti NM= 17 ec)P It1 'Iatic Improvement Value.: IMF= II —11.4 Nirirriber ea thl. 4 ...and Value: 111.1r=111/ . .111g7MTI • " ni Erlwre Feet 2550 Total Market vrtue: 80 92 . Mr= 11W2=7: Atfes: 0.20 * May Indicate living area In Jae , ro<ig: 0800- MULTIFAMILY < 10 UNITS residential properties. All values are as of January 1 each year sreaser; E..r_.4 " V& i -cg.r Tax Year: 1111FM1111111.KMEIIIIIIIPr TM Assessed value: 11.111/1,37=11i3=1 Exemption Amount: 11111111111.1rEMINIIIIWEEMMIEr.?.. Taxable value: 1111.111=, TEMEIMMENIFIIL ELA 1 Sirtr4Ura Dew 1 m Palm Beach County Property Appraiser Property Search System Page 2 of 2 r l'axes Tax f ka r . '5.;III .,; ; j 7bx Calculator i � Ad Valorem : MI��� ' Non Ad Valorem: IIIMIIMZr 1.11.1r�*? 11.11111K21 ( Deals T 011177411 : 1.117 r - TANS AIM Yrb41ts NOTE: Lower the top and bottom margins to 0.25 on File- >Page Setup menu option in the browser to print the detail on one page. ... s t - 411/0° . — ' — 'L— ' ' '. -4:7 I ‘; ' *4„,,t '4 , AO 5 ''' , * , , , r. , - - ''''' #.-^, 4 v , r ,, d ,.. ..,, iii„ ... 9 , _-,:', ,,.„. ... 4, 9 i" * ! +-- , fy 0444,484.404, 4,444444444441144.446.11111166 7 a '' 6 1 st St 1 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL February 14, 2012 Chair Hay opened the Public Comment. No one coming forward, the Public Comment was closed. The motion passed unanimously. C. Update on Code Lien Foreclosure Matter on Luchey Property Located at 118 and 128 MLK Blvd. and Consideration of Offering Lender $140,000 to Purchase Both Properties Ms. Brooks explained this item was associated with a City Commission agenda item wherein the City moved to make an offer to the lender to acquire the property and the Community Redevelopment Agency would be the source of funds_ The land, if acquired, would become part of the Sara Sims Park as contained in their master plan. Motion Vice Chair Orlove moved to approve. Mr. Karageorge seconded the motion tha unanimously passed. There was brief discussion the property was adjacent to the Brandon property and this acquisition would be in addition to demolition and closing costs. Both Attorney Cherof and Tolces were commended for their work on this item. Vote The motion unanimously passed. D. Discussion of Expanding Disclosure of Conflicts for items Presented to the CRA Board on Agenda Items Mr. Buchanan commented he thought this was already resolved at a prior meeting. The intent of the item was to disclose conflicts, contacts and relations for transparency purposes. It was important all would be cognizant and have confidence in the members, and that the members act with integrity. It was noted the disclosures would pertain to contacts with individuals regarding items on the agenda that would be voted on. There were no objections to operating under this method. E. Discussion of Lease Terms for the Ruth Jones Cottage Ms. Brooks explained this item arose from a discussion regarding the future tenant for this property and staff was requesting direction. The tenant would like to eventually purchase the property. The issue was what would happen if the FEC tracks were used for a commuter rail in the future. There would then be a greater public purpose for the property. 8 ATTACHMENT II P ry t , Sp ,.., f 4 Yr t i / 4,... , , .. — ‘ 1 f ti e r � 1 fj , t r� )..• ? .��� 14111i • L � ;`r \, .+ ! 1 r M' X7 cu , . ,/ ,, .,. ..tot,,„., 4 ,........,, •.. O. i ,4 ' - - , . , 0- iI A $ 1 r; 0 "� .' W 4,$ . 0 fi � ■ — I ; ,: ,: , i . 0. , v a �g 1f �. i ' ''',), / f ' a ,,,, ' - , x ( ,. ! — aI i. YkA 9 .k , ,, IL „ a :r , r !! t + a t fi t w,, 193W:0105 9 _ :ems K. 4 nr � i It= ice: L . ,gyp vomit. t „fir �, A ir 1 4itir tOtr 5-.5 xw ,., \ . .. , . - I. i # .,i; •. , t,,, t. r lit 'k &. +. ' y4 F y p } -0. mF n I F S '.4 a` y ,.., — . ,,::____.___,_______ - '. ,-' - - ,- '-91r,, --491 -- ^. ... W s ''' a ems, V @ s h ATTACHMENT III I A. Settlement Statement U.S. Department of Housing and Urban Development OMBAproTI! Na 2502 -0265 B. T p of Loan 1.0 FHA 2.0 FmHA 3. ❑ Conv. Unins 6. File Number 1 7 Loan Number 18 Mortgage Insurance Case Number 4.0 VA 5.0 C04v ins. S 3029804653 I 1024323186 C. NOTE: This foam is furnished to give yin: i statement of actual settlement costs. Amounts paid to and by the settlement agent am shown. - Items marigold "(p.o.o.)" were paid outside the closing; they are shown ham for informational purposes and we not Included 1n the totals. E D. NAME OF BORROWER: Boynton Beach Community RedevelopmentAgoacy ADDRESS OF BORROWER: E. NAME OF SELLER: Andrew Lindley and Gail Lucite) ADDRESS OF SELLER: R NAME OF LENDER: ADDRESS OF LENDER: G. PROPERTY 118 -120 NW I0th Avenue LOCATION: Boynton Beach, FL 33426 IL srITLMan AGENT: . GOREN, CHEROF, DOODY & BZROL, P.A. 3099 E. COMMERCIAL BLVD., SU1TB 200, FT. LAUDERDALB, FL 33308 (954) 771 -4500 ! PLACE OF SETTLEMENT: 30991. COMMERCIAL BLVD., SUITE 200, Ff. LAUDERDALE, FL 33308 I. BETTl,F,MXPPTDATE: 11/2/2012 Jr. SOMMARY OF BORROWZR'S TRANSACTION X SU M jARY OF 'S TRANSACTION 10010MRS AMttllN[DLffi tBf1RRAWWt 400,nan$RAttrIONTDII0 TO SEIM 101.Contraot sales ado 70. 000.00 401-Cantact sales price _ mato.01 114amo e_ nrniAdY 402 Personal property - _-- - - s_ 1 1.706 60 dlt3- 1 404. - -__- - - -__ -- - -- - 305 _4 5, _ _ ArturtmentLfor items paid by seller in advance Adjy�nents for Items paid by seller in advance - - I06.Cityltown taxes to ' 406.CIty/torrm taxes to �- 107. oa Cn ca In to 407.Ca m1 6 ____ tR - ____ 108.Ausessaantjp to 408.Asstsemeota . _ - to - _ - -- 109. to 499. __ _ _ to 110. - to 4Z0- M _ -- to - lit. _ to 411. - ---la- - -- --- 112. to 412. to 120.GROSS AMOUNT DUE FROM BORROWER ► 11,706.60 420.0038AMOUNTDIJE 10 OELLER ► 70,000.00 2 A0. AMODNIB PAID BYOR INM :HAIFOFBORROWER 500 .1tEDUCTIONSIMAMOUNfDURTO 2OIipoalt ec earnest _______1410 50I J3mess deposit fags imtsuotiom) 2022rincjpotl amount ofnew loans) 502.8ettlerstent choryp?a fm aeller(Jine 1400) _ 1,545.00 203.Bxiatina Im(g) satmn aubiec_t to 204. _ 504,Pm5tantru5tmotiguguliat 66,455.00 205 505_Pavrsffof second nrmetsane loan � 206.Pr srnnunt of new loamis) 506. 107. 507_ __ _ - ___ 208. 508. - - 109. - -- 509. - - I09b Adjustments for items unpaid by seller Muetmanfs for items unpaid by seller 110. City /town taxes to _ 511l'2tv/town to ill.[`.nm(1_tauee to - _ 511.ComLLp taxis to i12Assessments to 512.Aesem rants to ;13. __ - to 513. � to _ - ._______ at to 514. - - to - 115. 10 _ 5 _ ___ -- ;I6. - to S16. to - - :17. to - 117, - - - -- - to ,18. to_____ 518. -_ to __ _ -. tIz. to 51.9. to 20.TOTALAiKOVN1sMro ► 1,000.00 320. DUE R IN ► 70,000.00 BY ORINBERALF OFBORROWffit oo.cASHAT INTLLIMENTFROWTO 600.CASHATSRTI OINTTO/PROMHILI R i01.Gsosa amotmt duragm bmowedsso 120) - 71.706.60 601.Oroas amount due to miler dies 420) 70.000.00 02.Less amountstsyaId bv/ibr borrower 111= 220) 1.000.00 602.Less reductions in amount due seller (line 5201 70.000.00 03.CASR DE From {7 To BORROWER ► 70,706.60 603.CASH El To D From MILER ► 0.00 U.S. GEP S:MOtTTOFHO1 1H0AN D URBAN DEVHI PM&•TP SETILEIGINT STATEMENT PAGB2 L. Settlement Chartres 700. TOTAL,4A1.RSIAROKFR'S COM. hosed on price A %= Paid From Paid From Division of Commission Qua 700) as tbllmas: 13 orcawer's Seillees 7111 to Funds M Funds At _792 to Sett/anent Settlement lr 7■ to 1.295.00 11%. stems Payable In Comedian With Loan 801. Loan Origination Fee % to 802. Lnaeniecusmt % to 803. Anpraiml Fee to 804_ Credit Rena t to 105 Leaden) Impaction Fee to - 806. Madame Insurance Replication Fee to ROIL to • 1I& m • 810_ kr 811. to 81? to 813. to Bld_ to 115. to r 900. Items Iteacdred By Lender lb Be Paid la Advance 901. viaered to a /dm 903. Homed lasurm m Premium for years to 904. veers to ��55•• years to IS. Reserves Depedted WI& Leader .1110.1.1188801.100muma mantling per month 1002. Meeioae insurance® per month par month 1004. ( bunny moan lazes monthis§l pm month 1005. Amid ossosameota monti per month 1006. months® per month 1007. months@ per m®th 1008. mamthgt pet month g' Title Charism 1101 Re: Mament ar closing the 10 Garen. Chem£ Doody & BaoL PA. 250.00 250.00 11! ttegtmtltla the 10 Oid Republic National 'MID Insurance Co 110.00 1L a moaniaetiom to 1104. tide iimirmnoe binder to , . 1105. Daaumentgepnatioe - to 1106 - Notey AIM 10 1107. Attorney's fees to (imludes abava items eumbenl Qnahtdos ahovs items numbers: 1109. Lender's eaves Risk Premium INS AMT 1110. Owner's eoveesRs: Aisle Premium 40250 INS AMT: 70,000.00 1110a Endorsement= 1111..... t0 - 1112. to 111. to 1200. Government Recording and Transfer Charges 12012,rawdiegFe s: Deed 919_10; T .-Mmmoe(A) : S- Mort6ai ; Messes 19_10 L203_ Silts bod'alomma: Deed 5490.00:1.Moatygg; 'n) : S- Mott) 490.00 1204. t L3 . Addition' Settlement Charges 1301. Survey t0 Accurate Land Surveyors_ Inc. 185.00 1302. Pest Immeation to (903.RLtofTe pedion to V104. to 1305. Courier/Caw Fee to Goren. Cheroo Doody le ReroL P.A. 50.00 1306. Fatrnte 2012 Property Tlzm In Palm Beach 71or Collector 2,000.00 1307. M (308. to 1309.. to - COO. 1btal Settlement Charges (eater on lines 103, Section J and 502, Sectl®R) ' 1,706.60 3,545.00 302980403 IEEE) -1 Settlement Statement Signature Page Certification 1 have carefully reviewed the HUD -1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that 1 have received a copy of the HUD-1 Settlement Statement. Boynton °"�� Woodrow Hay, Clair = —"" Andrew Luchay __ Gail Luchey r The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in accordance with this statement. GOREN, CHEROI; D00DY & BUM, P.A. 11/02/12 Settlement Agent Data WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine and imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010. File #: Loan k; Mortgage Ns. case #: Oct -22 -2012 05:14 PM JP Morgan Chase 214 -626 -0158 5 1 9 AWJJJAYIT OF "ARM'S LENGTR TRANSACTION" Pursuant to a residential purehue agreement (the 'Agreement "), the perdu identified below u the 'Seller and the " Buyer," respectively, am involved in a real estate translation whereby the real property commonly known as 118 -120 NW 10TH AVB, BOYNTON BEACH, PL, 33435 -0000 (the "Property ") will be sold by the Seller to the Buyer. Chase (the "Lender ") owns or is the authorized service( of a deed or trust of mortgage against the Property. In ardor to complete the sale of the Property, the Seller and the Buyer have jointly asked the Lender to discount the total amount owed on the loan scoured by the deed of trust or mortgage. The Lender, in oonalderadon of rho representedons made below by the Seiler, the Buyer, and their respecdve agents, agrees to accept the amount of $66,455.00 to resolve its Loan (pursuant to a separate Agreement between the Lender and the Seller) on the express condition that the Seller, the Buyer, and their respective agents (including, without limitation, teal estate agents, eaorow agents, and tide agents) each truthfully represents, aiftrms, and states that, to the be# of each signatory's knowledge and belief: 1. The purchase and sale transaction reflected in the Agreement is an "Annie Length Tranaaodon,' meaning that the transaction has been negotiated by unrelated parties, each of whom b acting in his or her own ;elf - interest, and that the male price is based on fair market value of the Property With respect to those persons signing this Affidavit as an agent for the Seller, the Bayer, or booth, thole agents are acdng in the best interests of their respective principai(e). 2. No Buyer or agent of the Buyer is a family member or business associate of the Seller, the borrower, or the mortgagor. 3. No Buyer or agent of the Buyer shares a business interest with the Seller, the borrower, or the mortgagor. 4" There are no hidden terms or hidden agreements or epeoW understandings between the Seller and the Buyer or among their respective agents that are not reflected in the Agreement or the escrow inawottone associated with this transaction. 5. There is no agreement, whether oral, written, or implied, between the Seiler and the Buyer and/or their respective agents that allows the Seller to min in the Propel as a tenant or to regain ownership of the Property at any dme after the consummation of this sale transaction. 6. Neither the Seiler(s) nor tho Buyer(s) will receive any funds or commission from the sale of the � P The Sellers) may receive a payment if it is offered by the Lender and reflected on the Setdement Statement. The parties hereto acknowledge that the occupant shall receive an incentive payment of $3,000, provided for in the HAPA program.. Any incentive payments will be paid at the time of closing and will be (elected on the HUD -I Settlement Statement. 7. All amounts to be paid to any park", Including olders of other liens on the Property, in connection with the abort payoff transaction have been d to and approved by the Lender and will be reflected on the HUD -1 Settlement Statement. 8. No agent of either the Seller or the Buyer ;hall reoolve any prooeeds from this transaction except as is reflected in the final osduurated closing statement, which shall be provided to tho Lender for approval prior to the close of escrow. 9. All Malmo Banldng employees am prohibited from .sin homes through a short sale where Chau is the lender or aervucer. However, XPMorgan sae employees who are not employed in Mortgage Ranking may purchase homes Involved in a short sale that aeaure loans owned or servioed by Casa 10. Hach signatory to this Affidavit expressly acknowledges that the Lender is relying upon the ropmeentadon made herein as oonalderatlon for discounting the payoff on the Loan, which is secured by a deed of trust or mortgage encumbering the Property. 11.Each signatory to this Affidavit agrees to indemnify C hale and the investor if applicable for any and all losses resulting from any nogligont or intentional misrepresentation made in this Affidavit including, but not lbulted to repayment of the difference between the amount owed on the loan and the discounted payoff amount Received Time Oct. 22. 2012 6:13PM No. 5214 Oct -22 -2012 05 14 Pm ic' Morgan Chase P4.626 1, 1 12.Bach signatory to this Affidavit expressly acknowledges that any misrepresentation made by him on hor may subject him or her to civil liability. 13.This Affidavit will survive the closing of the transaction. We declare under penalty of pedury under the laws of t state of Florida that all statements made in this Affidavit are true and correct. Addidonally, Yhve billy understand that it is a federal crime punishable by tine or imprisonment, or both, to knowingly and willfully make any Lake statements aonoainln% any of tha above facts as applicable under the provisions of Title 18, United States erode, Section 1001, et seq. Buyer 1 Buyer 2 nn d ram 14/4-y (Print Nrte) W tint Blame) (Signature) (Signature) 0 (Date) (Date) Buyer 3 Buyer 4 Print Name) (Print Name) (Signature) (Signature) (Date) (Date) Seller 1. Seiler 2 (Print Name) Print Name) (Signature) (Signature) (Date) (Date) Seller 3 Seller 4 (Print Name) (Prim Name) Oct -22 -2012 05:14 PM JP Morgan Chase 214 -626 -0158 7/ (Slgnau») (Signature) (Date) (Date) Buyer's Agent Seller's Agent (Print Name) (Print Name) (Print Company) (Print Company) (Signature and Date) (Signature and Date) As a reminder, the signed Affidavit of Arm's Length Transaction must be sent at closing to the address provided below. Overnight/Regular: Chase 710 South Ash Street, Suite 200 Glendale, CO 80246 -1989 OP41 1 Received Time Oct. 22. 2012 6 ;13PM No. 5214 I A. Settlement Statement U.S. Department of Housing and Urban Development 0 OMB Approval No . 2502-0265 , E. Type ofLoan LO P1-IA 2.111 FrollA 3. n Cony. Units' 6. File Number 7 Loan Number 18 . Mortgage Matron= Case Number 40 VA 5.1:J Cam Ins. 3029804654 1024323197 C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement seat are shown. Items malted "(p.o.e.)" were paid outside the closing they are shown here for informational purposes and are not Included h the totals. ' D. NAME OP BORROWER: Boynton Beach Connnunity Redevelopment Agency ADDRESS OF EORROWER: E. NAM OF SELLER: Gail Luchey ADDRESS OFSELLF.R: 8517 Estate Drive, West Palm Beach, FL 33411 E NAME OF LENDER: ADDRESS OF LENDER: G. PROPERTY 124-126 NW 10th Avenue LOCATION: Boynton Beach, FL 33426 a SETTLEMICNT M 3126 GOREN, CHEROF, DOODY &13.7RS2 P.A. 3099 R COMMERCIAL BLVD., M.= 200, FT. LAUDERDAlE, FL 33308 (954) 771 PLACE or szniumerr: 3099 E. COMMERCIAL BLVD., SUITE 200, FT, LAUDERDALK FE 33308 L incrtuannwr nips 11/212e12 J. SUMMARY OFR t TRANSACTION K SUMMARY 01 OMAR'S TRANSACTION 100.0R088 mown Dna Min/JAMMU/Ea 400.01t0118 miaow DUB ID MUER 101.contraat Bales price 70.000.00 40LContract sides price 70.000.00 IO2.Perscsud pronerty 402.Perional woody 103.Settlement charms to borrower (ine140.0.).__ 1.686.60 403. ---: 1104. 404._ 105. 405. Atlholumallibr1818848102YA0110rlaadYsans A4uatmnots fiir ilania paid by dllr.r in advime. 1,Q6,C1ty/town taxes to 406.Cityftawn taxes to 107.ConnV taxa to 401Xtgagxtana to 1011.Aleassowids to 408.Asscannests to__ 109. to 409. 110. to -410. to 111. to 411. to 112. to 412. to 120.01102.9 AMOUNT DUE FROMBORAOWEIR ) 71,686.60 420.mtossalcumr matTo num 70,000.00 200.AMOUNT8 PAM BY OR ThrnEM.7 OF BORROWER 500.181mUCTION31NAMOUNTDUR TO MUIR 2a I 3.895.00 203.Bxialing lama) taken =Went to 503.11:cleting loan(s) taken subject to 204. 50}.Payoff of fhat mortgage loan 66,105.00 205- 505.Payoff of seoond mortgage loan 206.Princlpal amount of new loan(. s) 506. 207. • 507. zog. 508. 209. _ V.2,. ... 209a 509a 209b 509b AelusUnents for items unpaid by miler Adjustments for items unpaid by seller ZIG-City/town taxes to 510.Cityttown taxes to 211.County tames to 511.County taxes to 212.AdiensammIttI__. _ to __512.14REMM01101--_ 11.3. to 513. to /14. to 514. to - ----------- - /15. to .515. to - 116. to 516. . _ _to_ 117. to_ 15L7. ..... _to_ _ 4 ;111. to 511 to --- -- - ----. 119. to 519. to 0 r20.1OTALAIttoulas PAID 520.TOTALMIDUCTIONS1N loan AtiouNrDus mu= 0 Room /0Y OR DIBTRUALF OF DORROVOKR. 100.CASIIATSETRISEMPEOWTO HORROR= 600.CASHAT SEITLEMEINT TURROUSELL832. 101 v.,.., i. ..o_p_. ._1! .... , v.. , ,. 2! it ,I,o I •,I 102.Less smotmts mid trabr bat/cover f11ne220) 1.000.00 602.Less reductions in arommt doe seller (line 5201 70.000.00 103.CASH 50 From 0 To BORROW= 01 70,6116.60 603.CASE Si lb 0 From SELLER 0.00 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Sirrn 6WE0NT STATEMENT PACs 3 L. Settlement Maras 700. TOTAL_ A R4/BROICHR'S COM. Eased an price %= Psid Pram Paid Pram Divide of�Qia.iom [11ee 700) as Eollotvs: Ba rowel's Seller's 701. 1hsEmrFen to 1 gM18htRealty Pads At Funds At to Settlement Settlemment 3 Pali at•Seitl®e it 7 t0 1.295.00 TOO. Mem PavabM In Comnast(om Loan 801. Imo Origination Fee % to 802. TAM Dimwit % to 103. Appraisal Fee to • 804. Credit Report to 805,Lradarh Inspection Fee to - 806. Mortgage InsorartgaAmpliatton Pee to 807. t0 808. to 809. to 810. to JUL to 812. • to _ 813. to 814_ to 815. to - 900. Items lilettmtred By Lander lb Be Paid. In Advance 901. Latered from to ® Mao 012. Maroons irar P,emarm far ,moths ta- . 03. Hama rnsnr.ece Pcemhmi mar years to - 904. . years to 90 ,ears to 1r' Reserves Depoalted With Lender 1001. Hazard insurance months* Dor math 1002. Madman insure= motes pa' month 1003. CItyyrtperty Imes monttts@ Pee moth 1004. Candy ' pr0pe<tY tam manilla per month 1005. Animal assessments months@ per month 1006. montlaa. Bar h 1007_ maths® per month 1008. menus® Der month 1100. 004 . Title Charge 11Q1 gettioatat or domino the to Goren. Chao$ Doody & EstoL P.A. 250.00 250.00 11' diactp lute easel, to OM Repubrignalima'lido Insurance 90.05 11.L A eommtnatk,n • 111Lt. T•No ilIgre oe hindas r'0 1105. Document prepaid= to 110_ Notary toes tc 1107. Alamein lap to . anelodem above items numb= 1108. Title haunt= t0 Old Republic National Bola lnamratoe Co .' : 011ohads shove items numbers: 1109 Lender's comma Rid: Pram ,• , a. . 1,0 �r.,i. -f •.•, ..i, . a -u n. , ) .„r 1 1.1.1 . 1.1 i 1 1110a 8 to 1112. to 1113. to 1200. Government Record1i and 'ltn*rafer Mantes 1201. V roienthereee• durst S19 j.Mestgaop/» • 8-totorttMelA) ; Releases 19.1 1202. City/oenntytax/anafps: Tad ; 7 ..Mnr11) = tl 4 R0. 0 0 ,204. . _ 20. .300. Additional Settlement Charges iQj.'rvey to Amanda rend Surveyors. Inc- .. 385.00 302.PastInsisctlort to 303-Roof iam action to 304_ t0 303. Camrla/CopyPee t0 Ones. Mora Doody & F reL PA. 50.00 50.00 306.Ee&mete 2012 Property Thar to Petro Baarlelbx Collector 1' „300.00 307_ to 308. to ' 309. to 400. Taal Settlement Charges (enter on lines 103, Scotto* 1 sad 502, SeetiooX) 1 1,686.60 3,895.00 382,11146.54 HIM- Settlement Statement Signature Page Certification I have carefully reviewed the HUD -1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made .on my account or by me in this transaction. I further certify that I have received a copy of the HUD -1 Settlement Statement. BoynbonBeach Community Rabw for 1 y ' °°)t1.** #1 >*: Woodrow Bay, Cbuir Gall 'Amboy The HUD-1 Settlement Statement which 1 have prepared is a true and accurate account of this transaction. 1 have caused or will cause the funds to be disbursed in accordance with this GOREN, CUERO1, DOODY & BZROL, P.A. 11/02/12 Settlement Agent bate — __�_ -- WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine and imprisonment. For details see: 'T'itle 18 U.S. Code Section 1001 and Section 1010. �tt6 N0 Loan th Mortgage Dui. cane N: 7MORnIaKCd 1(11111'i107 AFFIDAVIT OF "ARM'S LENGTH TRANSACTION" Pursuant to a residential purchase agreement (the "Agreement"), the parties identified below as the "Seller" and the " Buyer," respectively, are involved in a real estate transaction whereby the real property commonly known as 124 -12 6 NW 10TH AVE, BOYNTON BEACH, FL, 33435 -0000 (the "Property ") will be sold by the Seller to the Buyer. Chase (the "Lender ") owns or is the authorized servicer of a deed or trust of mortgage against the Property. In order to complete the sale of the Property, the Seller and the Buyer have jointly asked the Lender to discount the total amount owed on tho loan secured by the deed of trust or mortgage. The Lender, in consideration of the representations made below by the Seller, the Buyer, and their respective agents, agrees to accept the amount of $66,105.00 to resolve its Loan (pursuant to a separate Agreement between the Lender and the Seller) on the express condition that the Seller, the Buyer, and their respective agents (including, without limitation, real estate agents, escrow agents, and title agents) each truthfully represents, affirms, and states that, to the best of each signatory's knowledge and belief: 1. The purchase and sale transaction reflected in the Agreement is an "Arm's Length Transaction," meaning that the transaction has been negotiated by unrelated parties, each of whom is acting in his or her own self - interest, and that the salt puce is based on fair market value of the Property. With respect to those persons signing this Affidavit as an agent for the Seller, the Buyer, or both, those agents are acting in the best interests of their respective principal(s). 2. No Buyer or agent of the Buyer is a family member or business associate of the Seller, the borrower, or the mortgagor. 3. No Buyer or agent of thc Buyer shares a business interest with the Seller, the borrower, or the mortgagor. 4. There are no hidden terms or hidden agreements or special understandings between the Seller and . the Buyer or among their respective agents that are not reflected in the Agreement or the escrow instructions associated with this transaction. 5. There is no agreement, whether oral, written, or implied, between the Seller and the Buyer and/or their respective agents that allows the Seller to remain in the Property as a tenant or to regain ownership of the Property at any time after the consummation of this sale transaction. 6. Neither the Seller(s) nor the Buyer(s) will receive any funds or commission from the sale of the Property. The Seller(s) may receive a payment if it is offered by the Lender and reflected on the HUD -1 Settlement Statement. The parties hereto acknowledge that the occupant shall receive an incentive payment of $3,000, provided for in the HAFA program.. Any incentive payments will be paid at the time of closing and will be reflected on the HUD -1 Settlement Statement. 7. All amounts to be paid to any party, including holders of other liens on thc Property, in connection with the short payoff transaction have been disclosed to and approved by the Lender and will be reflected on the HUD -1 Settlement Statement. 8. No agent of either the Seller or the Buyer shall receive any proceeds from this transaction except as is reflected in the final estimated closing statement, which shall be provided to the Lender for approval prior to the close of escrow. 9. All Mortgage Banking employees are prohibited from purchasing homes through a short sale where Chase is the lender or servicer. However, JPMorgan Chase employees who are not employed in Mortgage Banking may purchase homes involved in a short sale t secure loans owned or serviced by Chase. 10. Each signatory to this Affidavit expressly acknowledges that the Lender is relying upon the representation made herein as consideration for discounting the payoff on the Loan, which is secured by a decd of trust or mortgage encumbering the Property. 11. Each signatory to this Affidavit agrees to indemnify Chase and the investor if applicable for any and all losses resulting from any negligent or intentional misrepresentation made in this Affidavit including, but not limited to repayment of the difference between the amount owed on the loan and the discowited payoff amount. Received Time Oct. 18. 2012 10:03AM No.5175 12. Each signatory to this Affidavit expressly acknowledges that any misrepresentation made (-vs rum her may subject him or her to civil liability 13. This Affidavit will survive the closing of the transaction. I/We declare under penalty of perjury under the laws of the state of Florida that all statements made in this Affidavit are true and correct. Additionally, Uwe fully understand that it is a federal crime punishable by fine or imprisonment, or both, to knowingly and willfully make any false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Section 1001, et seq. Buyer 1 Buyer 2 Wn_Pct, r 0 u.) PeL (Print /)Tame) (Print Name) ..0.2.11L.L.r (Signature) (Signature) 1"4- 1 (Date) (Date) Buyer 3 Buyer 4 (Print Name) (Print Name) (Signature) (Signature) . --- (Date) (Date) Seller 1 Seller 2 (Print Name) (Print Name) (Signature) (Signature) (Date) (Date) Seller 3 Seller 4 (Print Name) (Print Name) • ' (Signature) (Signature) (Date) (Date) Buyer's Agent Seller's Agent (Print Naine) (Print Name) (Print Company) (Print Company) (Signature and Date) (Signature and Date) As a reminder, the signed Affidavit of Arm's Length Transaction must be sent at closing to the address provided below. Overnight/Regular: Chase 710 South Ash Street, Suite 200 Glendale, CO 80246 -1989 OP411 Received Time Oct. 18. 2012 10:03AM No.5175 BOYNTON aim" -:" BEACH 'CRA CRA BOARD MEETING OF: November 13, 2012 (Tabled 10/09/12) 1 Consent Agenda 1 1 Old Business 1 X New Business 1 1 Legal 1 1 Executive Director's Report SUBJECT: Consideration of Request from Homebuyer Assistance Program (HAP) Grant Recipients KeIIy Thomas & Teasha Thomas to accept Terms of Short Sale Negotiations SUMMARY: At their July 8, 2008, the CRA Board approved a Homebuyer Assistance Program (HAP) Grant in the amount of $50,000 to Teasha and Kelly Thomas for the purchase of the home located at 1763 NE 6 Street, in the Preserve. The Thomas' closed on their newly constructed home on January 30, 2009 and maintained the home as their primary residence since that date. On October 8, 2012, the CRA received an email and letter (see Attachment I) from Angelina Namia, Esq. notifying the Agency that Teasha and KeIIy Thomas were in short negotiations with Bank of America in attempt to prevent foreclosure. The letter also requests the CRA Board's consideration to accept five thousand dollars ($5,000) in full and complete satisfaction of the second mortgage through the HAP program waiving any and all deficiencies. At their December 13, 2011 meeting, the CRA Board approved and confirmed a policy to pursue collections of indebtedness to the CRA in matters of HAP recipient foreclosures (see Attachment II). While the request made by the Teasha and KeIIy Thomas is not associated with a pending foreclosure proceeding, it is anticipated that the CRA's second mortgage amount will not be satisfied as the result of an "arms length transaction" or short sale due to the severe drop in the property's market value relative to the first and second mortgage amounts. FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Heart of Boynton Plan RECOMMENDATIONS /OPTIONS: Provide staff direction. / Michael Simon, bvelopment Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \HAP Thomas reqst for stort sale terms doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 MOB Mr. Holzman moved to approve. Vice Chair McCray seconded the motion that unanimously passed. C. Florida Redevelopment Association Annual Conference Board Travel Ms. Brooks explained Mr. Buchanan and Chair Hay were interested in attending the conference and it was the policy of the Agency that the Board must approve the travel. She pointed out the cost for each member was approximately $982. Vice Chair McCray moved to approve. Mr. Holzman seconded the motion. This year, the Conference would be held in Daytona, Mr. Karageorge had attended in the past and found it to be beneficial. He urged all to attend. Additionally, he announced this year the Community Redevelopment Agency was nominated for awards in four or five categories. The Community Redevelopment Agency was already under consideration for an award next year due to missing a deadline this year. He explained it was obvious how good staff was when one attended the Conference. The Agency had been recognized last year for best practices for various projects and he commended all of the staff. Chair Hay agreed and noted Ms. Brooks was a speaker at the Conference and would discuss redevelopment Incentives on day two of the Conference. There was a vote on the motion that unanimously passed. D. Request by The Related Group to Set Aside Section 8.1.6 of The Promenade DIFA for a Certain Time Period (Back -up to follow at a later date) This item was pulled at the request of the applicant. E. Consideration of Request from HAP Grant Recipients, Teasha & Kelly Thomas, to Accept Terms of Short Sale Negotiation Mr. Simon explained this item was added at the request of the Community Redevelopment Agency Attorney and the recipient of Housing Assistance Program (HAP) funds, Teasha and Kelly Thomas, who were present with their reactor and attorney. Mr. Simon reviewed in July of 2008, the Board approved Ms. Thomas for the HAP grant and she closed on her unit. Close to $2,000,000 was spent under the program with the typical award being $50,000. 12 Meeting Minutes Community Redevelopment Agency Board Boynton Qeach, FL October 9, 2012 in December 2011, the Board set a foreclosure policy to pursue the indebtedness to the Community Redevelopment Agency subsequent to the foreclosure proceedings. This was done at least three times and the Board had not given any waivers. Recently, staff was approached by Ms. Thomas who was negotiating a short sale. In this instance, the issue was not yet a foreclosure, so no direction was given. He noted if it was the Board's desire, they could hear from the applicant Alex Bandien, 1851 Via Granada, Boynton Beach, the listing agent was also representing the buyer, explained he marketed the property for about a month. The value had dropped dramatically. When they had the property under contract in 2009, its value was $211,000. The property was now worth $73,000 and it was under contract for $76,333. The attorney, Angelina Namia, was present who was negotiating with the first lien holder, Bank of America. The mortgage was an FHA mortgage and they were willing to waive deficiencies. They received a verbal preapproval of a payoff for $63,000 and the original loan amount was $161,000. Mr. Bandien explained the proposal was to offer the typical average for second lien holders, which was about 10% of the total mortgage to the Board. They appropriated funds through a draft pre -HUD settlement statement in the amount of about $5,000. Mr. Bandien explained the homeowner had an extreme hardship and no longer had the ability to pay for the property. Angelina Namia, Esq. 2010 Belmont Place, Boynton Beach, the attorney through Mr. Bandien's office, having the authorization and disclosure of the homeowner pointed out the mortgagee was Bank of America. Normally, there were two different banks involved and if the short sale was not approved, all parties lose. The conditional approval granted by Bank of America was conditioned upon meeting FHA Guidelines for the short sale as well as submitting paperwork. She clarified the paperwork was submitted in May through July. It was now October, and due to delays would have to be resubmitted. Although the Board has pursued deficiencies on foreclosures, she pointed out if the homeowner had nothing to come after; good money was being spent in vain. Ms. Thomas was a local teacher and she and her sister love the home, but circumstances warranted the sale. If the Board did not approve the request, the only option was foreclosure. Ms. Namia submitted documentation and explained they would be happy to address any questions the Board may have. The Board had not recaptured any funds from foreclosures involving HAP recipients. Mr. Karageorge thought this was a win -win situation as previously, recipients went into foreclosure and then came to the Board; however, he did not want to set a precedent. Attorney Cherof explained the Board had not seen any documentation from the Bank. Attorney Namia explained this would be the first month the property would be in default and the first time the homeowner could not make the mortgage payment. A demand letter was not yet received. The homeowner initiated the short sale process. Because 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 8, 2012 the loan was an FHA loan, there were steps to follow which they qualified for up until this point. Mr. Holzman expressed the pitch was if the Board did not approve the request, it would go into foreclosure. He rioted it was only one month and foreclosures take several months. He thought it would be a mistake for this Board to rush to accept 10% of the grant and that the Board was not the Bank. The funds were taxpayer dollars and the Board must be extremely vigilant about what the Board does and does not do with the dollars. He thought it was premature for the Board to accept 10%. Further discussion followed the owner was still employed and had only missed one month of mortgage payment. There was no demand letter from the Bank. Mr. Karageorge related to individuals in much worse hardship situations and noted this was not to that point and the short sale was rushed. There could be another 10 individuals from the Preserve coming forward with a similar situation and he did not want an avalanche of requests. Attorney Namia explained they expedited the matter because the client came to the realtor. Once a foreclosure starts, the Board would no longer have the opportunity to recapture any funds. The buyer was a cash buyer who could walk and they had to start the process early. Because the mortgage was a FHA loan, the buyer qualified. The owner tried a modification, getting a second job while going to graduate school, and helped her sister with a minor child, but the situation would get worse and then the opportunity would be lost. She asked the Board to consider all of the documentation submitted and any additional documents the Board requests. Mr. Buchanan noted there were three foreclosures and inquired if any funds were recaptured. Attorney Cherof offered to check and advise the Board of their status as he believed two cases were dismissed. Teasha Thomas, 1763 ME 6th Street, explained the way the City wrote the grant, she was not able to refinance unless done so at a higher rate which was cost prohibitive. She was unable to rent the unit because of the grant agreement. This was her only option. She explained it was a struggle to maintain the mortgage. Mr. Holzman acknowledged Ms. Thomas's situation and thought any decision made would set a precedent going forward. He suggested accepting 50% of the $50,000 that would close, bringing $25,000 back to the Board. This would allow her to close while safeguarding citizen dollars that were expended in her situation and others. Motion Mr. Holzman moved as stated. The motion died for lack of a second. 14 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL October 9, 2012 Attomey Namia acknowledged the amount suggested by Mr. Holzman would be generous under typical circumstances, but in this instance with the value of the home, the cash buyer's offer and what the bank, who was waiving over $100,000 in deficiencies offered, it would not possible. Attorney Cherof suggested the Board table the matter and gather more facts to determine if it is a win or lose situation. Mon Mr. Holzman so moved. Vice Chair McCray seconded the motion. Mr. Karageorge indicated a short sale could still occur once the lis pendens was filed and with the tabling. Since the lis pendens had not yet been filed, there was still time. He agreed tabling the request was appropriate to allow the Board time to review the matter more closely. The motion unanimously passed. XIV. Executive Director's Report A, Protect Status Update There were no comments on this item XV. Future Agenda items There were no comments on this item. XVI. Adjournment There being no further business to discussed, the meeting was properly adjourned at 7:57 p.m. 0aWai- Catherine Cherry Recording Secretary 101012 15 BOYNTON BEACH H CRA BOARD MEETING OF: October 9, 20112 1 Consent Agenda I Old Badness 1 X New Business I 1 Legal ( Executive Director's Report SUBJECT: Consideration of Request from Homebuyer Assistance Program (HAP) Grant Recipients Kelly Thomas & Teasha Thomas to accept Terms of Short Sale Negotiations SUMMARY: At their July 8, 2008, the CRA Board approved a Homebuyer Assistance Program (HAP) Grant in the amount of $50,000 to Teasha and Kelly Thomas for the purchase of the home located at 1763 NE 6 Street, in the Preserve. The Thomas' closed on their newly constructed home on January 30, 2009 and maintained the home as their primary residence since that date. On October 8, 2012, the CRA received an email and letter (see Attachment I) from Angelina Namia, Esq. notifying the Agency that Teasha and Kelly Thomas were in short negotiations with Bank of America in attempt to prevent foreclosure. The letter also requests the CRA Board's consideration to accept five thousand dollars ($5,000) in full and complete satisfaction of the second mortgage through the HAP program waiving any and all deficiencies. At their December 13, 2011 meeting, the CRA Board approved and confirmed a policy to pursue collections of indebtedness to the CRA in matters of HAP recipient foreclosures (see Attachment II). While the request made by the Teasha and Kelly Thomas is not associated with a pending foreclosure proceeding, it is anticipated that the CRA's second mortgage amount will not be satisfied as the result of an "arms length transaction" or short sale due to the severe drop in the property's market value relative to the first and second mortgage amounts. FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Heart of Boyntoi Plan RECOMMENDATIONS /OPTIONS: Provide staff direction. ic ael Simon, Development Director T :IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda item Request Forms by Meeting\FY 2012 - 2013 Board MeettngslOct 2012\HAP Thomas reqst for stort sale terms.doc Page 1 of 1 Simon, Michael From: Angelina Namia [angelinaesquire©namialaw.comj Sent: Monday, October 08, 2012 11:01 AM To: Simon, Michael Subject: Teasha & Kelly Thomas file Importance: High Attachments: Ltr.to. City.of.Boynton.re.SS.10.08.12.pdf Dear Mr. Simon, It was a pleasure speaking with you last week. Attached Is the letter regarding the situation we briefly spoke about during that conversation. Please present it to your CRA Board during tomorrow's meeting, as time Is of the essence. I apologize for the late notice, but we have had a lot of hurdles to overcome with this file. Should you have any questions or require additional information, please contact me directly, thank you. Very truly yours, Angelina Angelina Namia, Esquire Law Offices of Angelina Namia, PLLC 123 N Congress Avenue, #398 Boynton Beach, FL 33426 -4209 954 - 328 -2772 Angelinaesquire@namialaw.com www.namialaw.com This e-mail message and any attachments are intended solely for the use of the addressee and may contain information that is confidential and /or privileged. If you are not the intended recipient of this message, you are prohibited from reading, disclosing, reproducing, distributing, disseminating or otherwise using this transmission. If you have received this message in error, please promptly delete this message from your system. Thank you. 10/9/2012 ATTACHMENT 1 Iii' ( {r Law Offices of Angelina Namia, PLLC 123 N Congress Avenue, #398 Boynton Beach, FL 33426 -4209 954 - 328 -2772 Angelinaesquire@namialaw.com October 8, 2012 Vivian Brooks and Boynton Beach CRA Board 701 North Federal Highway Boynton Beach, FL 33435 RE: TEASHA & KELLY THOMAS PROPERTY ADDRESS: 1763 NE 6 Street, Boynton Beach, FL 33435 Dear Ms. Brooks and Board: This office has been retained by and through Alex Bendien, licensed Florida Realtor of Home Solutions Team, LLC, 1851 Via Granada, Boynton Beach, FL 33426, 561 -577 -5776, alexb @my hst.com with full disclosure and authorization from the Clients, Teasha and Kelly Thomas regarding the aforementioned real property. Teasha and Kelly Thomas are in the process of a short sale for this property since they can no longer afford the mortgage payments. Please be aware that Bank of America is the first mortgagee and they have already verbally agreed and have proceeded with the short sale process thus far. We await their written approval any day now. Please allow this letter to serve as formal notice requesting the Board's consideration to accept Five Thousand Dollars ($5,000.00.00) in full and complete satisfaction of the second mortgage through the Boynton Beach Community Redevelopment Agency's Homebuyer's Assistance Program, waiving any and all deficiencies. Please be aware that no one will be paid should this short sale not be successful. Additionally, this property, as many others, will be lost through foreclosure, as that is the only option left for Teasha and Kelly Thomas. However, everyone will have a beneficial outcome should the short sale be completed to closing. We appreciate your Board's time and immediate consideration of this matter and look forward to a mutually beneficial resolution. Should you have any questions or require additional information, please contact me directly, thank you. Very truly yours, Law Offices of Angelina Namia, PLLC atiefine Words Angelina Namia, Esquire /an A Settlement Statement u.s. Department of Nou.aryl l r and urban Development ._ . _- I MOM B. Type of Loan 1. ❑ FHA 2.0 8148 341 Cenv, Woo. B. Rte Number , 7. Loan Number P 8. Moaens I nsurnles Cass Number 4.a VA ref] Cony. Yr. 42D-61d1' 3045110 • 096.007650 .734 1 I C. Note: This loam Is UMW to eke you a Maleme *d actual sallanana costs. Amara path band by IM adamant agent me shown. Ibis f arad "(ROA:.Y were paid Outside the dosing May maven haw for ldbmn0ltlael 'exposes and asst not bteludad In Su Idols. _ __ _ __ _____ _ D. Nana and Address of noaerr E. Name and Address of baler P. Naar and Address d Lander BO TEABHA THOMAS BOYNTON VAlAGE. LLC.. A FLORIDA LIMITED SEASIDE NATIONAL BANC AND TRUST, /TS KELLY THOMAS UMMITY COMPANY SUCCESSORS ANDROR MOONS 1763 NE 8TN STAEE7 "1210 1910 NE 5TH /ONSET 4106 8018 ORAN:M AYE. SUITE 200 BOYNTON maCH, FLOFMDA BOYNTON BEACH. FLORIDA ORLANDO, FL 82601 ■ G. Pmpaty Location 1 H. Stldsnrlt Apse 1763 N5 6TH $TREeT 41210 TRANS -STATE TITLE INSURANCE AGENCY, LLC BOYNTON BEACH, FLORIDA Place d Settlement I. Ss6fana'd Date ' 1 a?O6 BISCAYNE BLVD., SUITE 2201 01/9009 AVENTURA, FLORIDA 32150 1 J. SUMMARY OP 15011110WMIN 7RANiAC710Nt K. SUMMARY OP SELLER'S TRANi*CTIO5 1,_ • •. _ _.•., PM PROM BORROWER 400.0 • DUB TO Wi3.1.131 T 101. Coaxedw robe 211400.00 401. Contra' sibs aloe _ t 211,00000 102.' 1 • •:.•:.__n _ - u. •..•.• 1 S -- --- - ° -- 103. 8sWamatRphRan la bonowsr (Bne 14001 a f10s2 403. 104. 1.75% DEVELOPRRS FE'E 4,120.25 404.1.75% DEVELOPERS FEE 409625 105. 405. AdJuelaaata for Wes paml by OWler Madame Adkatmanfs for Hama POW by sNNarin *Rana 10& • -, • taxes to 406. Cltylhim taxes to 107. Coo* taw to 407. Cay4Y WWI 10 106. Awlw snsnts la 408. Asseverate 10 102. TWO MONTHS WORKING QAPfTAL TO MASTER 4 • 04 . 110. TWO MONTHS WOWING CAPITAL TO •• .. 410. 111. PRORATED M S' ° 01A0O2/2SC2 112, PRORATED CONDO ASSOCIATION 01130.00 000 11.12 412. 120. GROSS AMOUNT DUE FROM BORROWER f 225.33005 420. GROSS AMOUNT DUE TO 813LO% 215,10626 200. AMOUNTS PAID BY OR IN BMULP OF BORROWER 500. REDUCTIONS IN AMOUNT TO BMW !!_J 201. Depart or mutest money 12.500.00 501. Beau Depoelt (see Insbuotlons) 4 202. • • inane( new l an(s) 163.827.00 502• SaMensnt • • Nadir (Iha 1400) _ 8,411.66 203. E1dslIng loan(a) Nan subiz4 lo 503.15s0(s) taken aub)sot to 204. 604. Pa • • of satm=rlBpeban 201.145.19 C 206. 505. Payoff f d aeeand mortgage ban 206. 506.5006 RE TAXES FEBRUARY AMOU'JT 4,052.56 WARRANTY 207. 507. HOW WARRANTY TO HOME BUYERS WARRANTY CORP 315.50 205. HOMESTEAD EXEMPTION CREDIT 1111 606. HOMESTEAD EXEMPTION CREDIT _ 750.00 WE CRA LOAN 50.000.00 509• Ad • . for Berns • • W i e r ._ -.i,. u. • .a, 1n• • • SSW _ - ___, ---- 210. °Mown laves to 510. CSWt0wn tams to 211. ►_,:, •_ • 0U01 10 • 130 322.02 511. •• buss 01/01 t0 51120 322.02 512. Aaee®mser to _ 216. 513. 214. 514, , 215. 515 ._ �__._.. -_ - _. 215. 516. ,. ___ .___ _- I - I 217 517. __ - _ _ 216 5111 219, 510. . _ .__ - - - 220. TOTAL PAID BY 1 FOR BORROWER 1 227,382.02 520. TOTAL REDUCTION AMOUNT DEAF SELLER 21510&26 300. CASH AT ft FROM OR TO BORROWER 800. CASH AT SETTUMIEN TTO OR 591015 SELLER 301. Moss smut due from borrower pine 120) 825,330.00 M. Grose stout due to aall.T (Ens 480) 21 19625 302. Lees amourds • , Id • • • • - 602. Less Mallon amount due In seller . • 62• ~v 215.19825 TO net aamonm r TAx IWORWAT NAN516 5554e PU1440 3210 THeveenomnensa0 805 1 0pria1 If YOU ARE 03015103 TOFU* RE11844. 4 rr63u3134X Pau.1Y OR OTHIB "MOTION MAY 5E IM ONYOU F THB MOW Mt TAXABLE NDTHE Na 0ETTMLME$TWO r HAS W" rum WOOER ' fn ••• 0•`^^ ■n 4•10 MIA torn HUD - /NM re Hsrelheett a10R9 le./. utrAI1memo !Jr 11VYY111Y Able 1011100114 UCYlewe71e9e 1 bC 11 1.011sCR I b lee CMICRI rweb ( L SETni11®ITMAIMS: Fla Minter: 420410T S qs MOM PAS PIM 700. TOTAL SALrIN1ORd1'S OOSSN SIS . sued en odoe S 211110.00 • 100 . 8.150.00 RINDS AT FUNDS AT Melon Rl _la ntookn One TOO as lobtnla: SETTLJM12IT SEITLYSBIT 701. ! S>f0.00 t4 RESOLUTIONS MEM 767. S to 70;5 Oo1e111wlon aid at 8551.118- 5 704. - j 300. BOAS PATMLS N CONNICTRON WITH LAW P.O.C. 001. Loin O114k1QlonFee 059. Lasn Chemed 11 605. Apearkal Fit to RE ANALY3T4 850.00 p4. Credit Raton to SWIM NATIONAL SANG PAO m.*T. lib SUCCE 26.00 505. 1a11dsre k1I5aolion Fes to 506. MM. Ins. Aplbetto . Fee to 507. Aments p1 Fee to 506. TAX SiI■PCE FEE TEA 73.001. 305. A0111111STRATiON FEE SUASION SANG - 025.041 210. WIItsr reFEE SEASIDE NATIONAL DIVA A3 TAUNT. ITUSUMS 2250 511. 112. PRDCESONS FIE WADE NATIONAL SANG AND TRUST. ITS SUM 15500 511. 00C PIMP FEE SEASIDE NATIONAL SANWAND TRUST. ITS SIJCCE 160.00 513. ANAL INSPECTION SEASIDE NATIONAL SANK APO TRUST. ITS SUCCE 75.00 518. IND MFNAIW. RE S0LUTJONS 150.006 PQk 900. FMB IISIOUI OED d1 LJ9M1121 ME PAWN ALNANOE 901. klMStt INm 01.01605 to 050168 OS 1507 May Sdsv06 81.74 955. MSlbsss haasaaos PNmNan 1 10 SEASIDE MAMMAL SANK AND 716ST. ITS 51.144E 2.51731 505. I#aetd Memnon PIsnWQn we. to 504. SOS. 1100 PININYSi DEPOSITED WWII MONK FOR 1001. Huard Inimens5 mo. OS 11110. 1102. M. secteMemlon 0 mo. 18 0270 f mo. 1003. moos& Una m0. OS I mo. 1004. Om.4er moos* taw 5 MO. 58 11015 Imo. 1415405 1005. Annual Jlauo cents mo.O3 /1110. 1005. mo. OS 1,110. 1007. m0. O3 1 mo. 1001 Amapa. Cheat Oat HaaedlFloed he. CIMCoutM P116 TLas. WIMP b & Amid AWmanonot .0.05 1100. TITLE CHARM 1101. Seamed of 0 to TRANS•ST'ATE TRUE INSURANCE AGENCY 005.00 1101. Abetred male mi ch lo DATATRACIFTET 275,00 tt03. 168. m51s8on to 1104. Tile isenn05binder b 1105. 000nelent osaam2.1 10 1108. Want leas 10 1107. Morn51IS Nee 10 Onoludss above Stn No: 1105. 6818.8S t0 TAMSSTATE TITLE NSURNICEARMY 250.00 705.06 On0M1dm above NIT Noe 1101. Dander% so mine 105, 00 - 750001 d 5510 NO Pm* 1110. Ome11spneotNS 08,1140 0- 7110 5 6d 1275.00 RIO Prom 1111. A. P006 0 64DORSENDIT MOT AMEACANTIiLILINS COITET 15220 1112. B400RSO1ENTS FIRST AMERICAN TOSE INS LX7/TWT 10100 1113. 1200. QOYEMMIIT RECAID540 AND 'MAMMA 0660530 12x1. RsoodkO flue Deed 5 2740 : MIAOW 3 787.10 ; RSlesss 8 1 5..20 614.70 11.10 1202. Cb*ufl slam s Dead $ :1.14 asp S 1203. SAM Ht1YYlspe Dead 8 1.477.00 : Modowoo 3 57205 57335 1.477410 1204. ANNAN Tax Dead S : Md1151as S MAO 37763 1205. N01440 AFF 27410 1500. ADDITIONALSEtTLBIONTCIA6SSB 1301. Bis*v to 1500. Potkutass0n I0 1302. LOAN =ONO FEE 715111.8 6, T6o Memnon Aasna 760.00 ( 1004. RECCRDNOID$TAMPSNNTCAALD 161.50 1305. NDRSRS 051PM 1305. 1107. 1301 uo - 4n 1 •_ • . 1.53 I ,r _, . _ r . Sr1aa r� e l A' J fe1rA �/ ,► .11r ' Tt. !'1 , - - nom -1: ,. 1.,....• r- (j: ■ TIM M" � 1 J \Ala \ Y"� r . , I1 The 1W4 Wdi11104 pawed is s lMlead mrramaA Melt _.. - 1 • j trr MAr4 MameM ; vtl dell`N,t sow - - -- rr^. --.LLO WA06G a Is MM b ler.Yr/p ebbedw Melewers ber UMW tines en ells r •1y ad.rAeelea hokeerrese wan amebae An bible■ lm or , F. ow* pc Ng IIU.1. Oar: 4/0611441 bid aedM11m0. 01-2¢4000 at R12 AM corm HU0.10330) 051 FMndbook 43052 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Homebuyers Assistance Program PROMISSORY NOTE $ 50, 000.00 Boynton Beach, Florida. January 30 20G9 T FOR VALUE RECEIVED, Reffy m a r e s 6 (the ) promises pay the "Borrower" sea to a to the order of the Boynton Beach Community Redevelopment Agency, Florida public body corporate and politic created pursuant to Section 163356 FS., (the "Lender"), at 915 South Federal Highway, Boynton Beach, Florida 33435 or such other place as the Lender hereof may, from time to time designate in writing, the principal sum of FIFTY THOUSAND AND 00/100 DOLLARS ($ 50 , 000.00 ) together with interest in like lawful money from the date funds are advanced under this Promissory Note at the applicable annual rate set forth below, to be computed on the basis of the actual number of days elapsed and a year of 360 days, the aforesaid principal sum as hereafter provided to be paid in lawful money of the United States of America, which shall be legal tender in payment of all debts and dues, public and private. at the time of payment as follows. 1. This is a deferred payment loan issued under the guidelines of the Homebuyer Assistance Program Agreement (the "Agreement ") executed by Borrower simultaneously hereto to purchase a real property located at 1763 NE 6th St, #1210 (the "property' ") Boyton Beach, Fl 33435 2. Borrower shall occupy the Property as his/her principal residence and, in the event the Property is leased, sub - leased or otherwise devised or assigned to any person or entity during the term of this Loan, then the principal shall become due and payable in full together with interest at four percent (4 %) per annum calculated from the time of purchase of the Property. 3. Upon the sale of the Property, within the first five (5) years of ownership, Borrower shall pay eighty percent (80 %) of the equity in the property (as determined by a fair market value appraisal) to Lender. During years six (6) through twenty (20) of ownership, Borrower shall pay fifty percent (50%) of the equity in the Property to Lender. During years twenty -one (21) through thirty (30), Borrower shall pay fifteen percent (15 %) of the equity in the Property to Lender. 4. In the event of a voluntary sale or foreclosure, Borrower shall provide notice of same to Lender who shall have the right of first refusal to purchase the Property from the Borrower for the fair market value of the Property as determined by a current certified appraisal. Lender shall have forty -five (45) days from the date of receipt of intent to sell with a copy of the proposed contract to determine whether to exercise its right to purchase hereunder by sending written notice to the Borrower (it being understood that Lender's purchase price shall be the lesser of that set forth in said appraisal or proposed contract). Such notice shall reserve thirty (30) additional days for Lender to complete all necessary preparations and close 5. Borrower elects to refinance the Property, Borrower shall repay the entire principal balance in full to Lender, together with interest at four (4%) per annum Page i of 3 calculated from the time of purchase of the Property. 6. Borrower shall perform, comply with and abide by each and every agreement, stipulation, condition and covenant in this Note, the Mortgage and the Homebuyer Assistance Program Agreement executed by Borrower simultaneously herein. 7. In the event, any sum or money herein referred is not promptly paid within thirty (30) days after the same becomes due, or if each and every agreement, stipulation, condition and covenant of said Agreement, Note and the Mortgage, are not fully performed, complied with and abided by, then the entire sum unpaid thereon, shall forthwith or thereafter, at the option of the Lender, become and be due and payable, anything in said Note or herein to the contrary notwithstanding. Failure by the Lender to exercise any of the rights or options herein provided shall not constitute a waiver of any rights or options under said Note or the mortgage accrued or thereafter accruing. It is hereby agreed that if any payment of principal or interest or any installment thereof, is not made within five (5) days of the due date as above provided; or in the event default be made in the performance or compliance with any of the covenants and conditions of any security agreement now or hereafter in effect securing payment of this Note; or upon any default in the payment of any sum due by Borrower to Lender under any other promissory note, security instrument or other written obligation of any kind now existing or hereafter created; or upon .the insolvency, bankruptcy or dissolution of the Borrower hereof; then, .in any and all such events, the entire amount of principal of this Note with all interest then accrued, shall, at the option of the holder of this Note and without notice (the Borrower expressly waives notice of such default), become and be due and collectible, time being of the essence of this Note. ff this Note shall not be paid at maturity or according to the tenor thereof and strictly as above provided, it may be placed in the hands of any attorney at law for collection, and in that event, each party liable for the payment thereof, as Borrower, endorser, or otherwise, hereby agrees to pay the holder hereof, in addition to the sums above stated, a reasonable sum as an attorneys• fee, which shall include attorneys fees at the trial level and on appeal, together with all reasonable costs incurred. After maturity or default, this Note shall bear interest at the highest rate permitted under then applicable law. As to this Note and any other instruments securing the indebtedness, the Borrower severally waives all applicable exemption rights, whether under the State Constitution, homestead laws or otherwise, and also severally waives valuation and appraisement, presentment, protest and demand, notice of protest, demand and dishonor and nonpayment of this Note, or any payment hereunder, may be extended from time to time without in any way affecting the liability of the Borrower. Provided the Lender has not exercised its right to accelerate this Note as hereinabove provided, in the event any required payment on this Note is not received by Lender within five (5) days after said payment is due, Borrower shall pay Lender a late charge of five percent (5%) of the payment not so received, the parties agreeing that said charge is a fair and reasonable charge for the late payment and shall not be deemed a penalty. This Note is prepayable in whole or in part at any time without penalty. Nothing herein contained, nor in any instrument or transaction related hereto, shall be construed or so operated as to require the Borrower, or any person liable for the payment of the loan made pursuant to this Note, to pay interest in an amount or at a rate greater than the highest rate permissible under applicable Mw. Should any interest or other charges paid by the Borrower; or any parties liable for the payment of this Page 2 of 3 Note, result in the computation or earning of interest in excess of the highest rate permissible under applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereof, and all such excess shall be automatically credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal balance shall be paid by the holder of the Borrower and any parties liable for the payment of the loan made pursuant to this Note, it being the intent of the parties hereto that under no circumstances shall the Borrower, or any parties liable for the payment hereunder, be required to pay interest in excess of the highest rate permissible under applicable law, This Note is to be construed according to the applicable laws of the State of Florida and the United States of America and venue shall be in Palm Beach County, Florida. BORROWER: v _s Name: KELLY ONAS TEASHA THOMAS -' H:1200710OAB\Reel Estatel3 BBCRA1Aomissay Note - HAP lemp)ste.doc Page 3 of 3 Page 1 of 2 Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement In order to further its goal of creating affordable housing opportunities, the Boynton Beach Community Redevelopment Agency (Grantor) hereby grants financial assistance in the amount of 550.000.00 pursuant to its Homebuyer Assistance Program (Program) toTeasha Thomas & Kelly Thomas ( Grantee/s) to purchase real property described as: Insert Legal Description (Property) In exchange for the funding the Grantees understand and agree to the following terms and conditions. It is further understood by recipient that a lien shall be placed on the real property described above. 1. Grantee/s state that all information submitted to the Grantor in order for the Grantor to determine eligibility for the program is true and correct. 2. Grantees hereby state that the purchase price of the Property does not exceed $280,000. 3. Grantee /s hereby state that the amount of Program funding is not more than 50% of the cost of the Property. 4. Grantee/s hereby state that they have not owned a residence within the last three years prior to the purchase of the Property. 5. Grantees state that they understand that the grant amount will be secured by a second or third mortgage on the Property. a. The mortgage interest rate shall be 0% unless any of the following occur: i. The property is no longer occupied by the Grantee as their full time residence; ii. The grantee secures a line of credit, equity loan, etc. secured by the Property without the written consent of Grantor. iii. The property is leased. b. In the event that the Grantee /s sells the property to a non- income qualified buyer (a family whose income exceeds 1 20% of median household income for Palm Beach ' County), leases the property, refinances the property or Page 2 of 2 does not reside in the property as their full -time residence, the full sum of the Grant plus interest of 4% annum from the date of this agreement shall be due and payable 6. Grantee/s state that they understand that upon the sale of the property within the first five (5) years of ownership, the Grantees must pay eighty percent (80%) of the equity (determined by a fair market appraisal) to the Grantor. During years six (6) through twenty (20), fifty percent (50%) of the equity shall be payable to the CRA. During years twenty -one (21) through thirty (30), fifteen percent (15 %) of the equity is payable to the CRA. The Grantor's share of equity is due at closing. 7 The Grantor reserves the right of first refusal to purchase the Property at the fair market appraised value. Grantee must notify Grantor in writing of their intent to sell. The Grantor shall have 45 days from the date of receipt of intent to sell, to exercise the right to purchase. Grantor shall notify Grantee in writing of the decision. 8. Grantee acknowledges that it has received a Loan Assistance Note and Mortgage of even date with this Agreement and is familiar with, understands and accepts the terms and conditions contained therein as well as the terms and conditions contained in this Agreement. For Grantor. For Grantee's: Boynton Beach Community Redevelopment Agency _s1 _..a 1 . f C Executive Dire; Si •• attire Lisa A. Bright Date: a� Print Name TEASHA THOMAS Date; `f _ � ` �f�y►t k Signature � \ 1/4'..'4\ Print Name° KELLY THOMAS Dale a ; ATTACHMENT 11 Meeting Minutes Community Redevelopment Agency Board Boynton 6e ach, December 13, 2011 After brief discussion, Mr. Atkens agreed to defer discussion of the item to later in the meeting so he and Ms. Biscuits could review the budget. Ms. Brooks clarified ail the elements the Heritage Fest wanted, less the stage and private dinner, were Included in the budget. BOW Vice Chair Orlove moved to table the item and bring It back when staff had worked with the HOB members. Mr. Hay seconded the motion that passed 6 -1 (Mr Holzman &fowling) Mr. Buchanan had requested Heritage Fest 2013 be placed on the agenda as Item B. The discussion would be heard under XII. New Business, Item F. XXI. Maw Business: A. Review Policy Regarding Mortgage Foreclosures, CRA Liens, and Collection of CRA Loans Chair Rodriguez left the dais at 7:56 p.m. Attorney Cherof stated this !tern are from a lawsuit that was filed, drawing the CRA into a mortgage foreclosure, when the CRA held the second position due to a $50,000 second mortgage. The Board had already established a policy, when the CRA was in second or gird position, they would pursue collection of the indebtedness of the obligation and would pursue a personal Judgment from the individual who borrowed the monies from the CRA. Whether it was paid or not was unknown, but it was an incentive for individuals to understand that when receiving funds from the Community Redevelopment Agency, it was an obligation until it was paid in full. tie requested confirmation that policy still stood. Motion Mr. Karageorge moved to stick with the policies in place and do as Counsel directed. Mr. Hay seconded the motion. Amende i R Mr. Karageorge amended his motion that the recommendation was to c oaf nri the previous policy to pursue collection of indebtedness to the CRA. Mr. Hay agreed to the amendment. 12 Meaning Minutes Community Redevelopment Agency Board Boynton Beacfi, E4 December 13, 2011 � -� •� Attorney Cherof anticipated these types of cases would arise every sbc or seven months. Chair Rodriguez returned to the des et 758µm. There were no public comments received on this item. The motion unanimously passed. B. Consideration of Proposal from IGmley -Ham for Design and Construction Administration of Marina Entry Area at Boynton Beach Blvd. and Federal Highway This item was the first step in the design of the marina entry features at Boynton Beach Boulevard and Federal Highway. It was a budgeted line item in this year's budget and it induded costs for construction administration. It was anticipated the project would be designed and constructed by the end of the fiscal year, Mike Simon, Development Director, stated all of the projedts the Board approved were in this year's budget. The dive shop, park, marina entrance, and secondary entrance feature would be completed at the end of the fiscal year. Chair Rodriguez expressed it was a lot of money to design a sign and landscape. Mr. Simon explained the rule of thumb was the costs were between 15% and 18% of the construction costs and he listed the items involved. The CRA spent $1.5 million to extend Boynton Beach Boulevard through to the marina which had dead ended at Federal Highway. They needed to draw individuals to the marina from both directions and create a sense of arrival. Staff wanted to be smart with the invesbnent and have signage to draw attention to the corner at the light, There was brief discussion the road into the marina was narrow; however, staff thought the signage would alleviate traffic issues. Soticat Mr. Hay moved to approve. The motion was duty seconded and unanimously passed. 13 BOYNTON cA =BEACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda 1 I Old Business I X New Business I I Legal I 1 Executive Director's Report SUBJECT: Consideration of Expanding the Uses within the RFP for 211 E. Ocean Avenue Property SUMMARY: City and CRA staff has been in talks with local software developers, Scott Conley and David Volbracht who want to create a software development hub in downtown Boynton Beach. They feel that Boynton Beach is suitably located for this purpose because if it's central location in Palm Beach County, proximity to the beach and venture capitalists. Scott and David feel that they can attract like minded individuals who will create companies and high - paying jobs. Scott and David's company, Flipstone currently employees eight people. They are interested in relocating to downtown Boynton Beach from suburban Boynton. They toured 211 E. Ocean as a possible site and felt it was a great location. As the Board may recall, Modernizing Medicine as software development company and a recipient of CRA grants was a start-up company that outgrew the CRA district and moved to Boca Raton. Scott David feel that with the help of the CRA and City this can be prevented by helping to create a marketing campaign targeted towards this sector, working to create incentives and helping to find appropriate spaces as the businesses relocate and expand. This type of use for 211 was not envisioned at the time of the budget meeting. However, due to the potential impact of the type of jobs to be created it bears consideration by the Board. CRA staff met with City staff to discuss what would be needed to convert the property from residential to office use. If the property is designated historic, the building would be exempt from some of the code requirements since the age of the structure would prevent it from being totally brought up to current code. Scott Conley will be doing a short presentation about the software development industry at the CRA Board meeting. FISCAL IMPACT: None at this time. CRA PLAN, PROGRAM OR PROJECT: Downtown Vision and Master Plan RECOMMENDATIONS /OPTIONS: If the Board feels that this type of use, high tech job creation, is a valid potential use for 211, the use can be added to the RFP. Vivian L. Brooks Executive Director T.\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012\Additiona uses 211 RFP doc i D W R. J WHY Do PEOPLE— especlafly term—quality ofNoce sum it up. , use S Creative Class people, who have lots of the term in contrast with the more trade choices —opt to locate in certain places? tional concept of quality of life to cover thc- '- i K , - - What draws them to some places and not unique set of characteristics that define to others? Economists and social sceen- a place and make it attractive. Over time tists have paid a great deal of attention to my colleagues and I have come to refer to tr ' c. , ,. Of the location decisions of companies, but these characteristics as Territorial Assets, they have virtually ignored how people, the fourth T of economic aevelopment after �� especially creative people, make the same Technology, Talent, and Tolerance (what choices. have elsewhere called the 3Ts of Econorm RICHARD FLORIDA This question first began to vex me more Growth) Variety, stimulation, and an than a decade ago. in search of answers Generally, one can think of quality of place i began by simply asking people how they as cutting across three key dimensions - atmosphere of tolerance help made their decisions about where to live > What's there: the combination of the " - attract people who can afford to and work I started with my students anci environment and the natural environn colleagues and then turned to friends and a stimulating, appealing setting for the pui be choosy about where they live. associates in other cities. Eventually, I suit of creative lives. began to ask virtually everyone I met ,.ill > Who's there: diverse people of all eth- mately, in the mid- z000s, i put the question niceties, nationalities, religions, and sexual Cities like Providence, Rhode Island, offer a at the heart of a major survey I conducted orientations, interacting and providing dear mix of established neighborhoods, multiple along with the Gallup Organization The cues that this is a community where anyone ethnicities, and stimulating activities that same answers came back time and again can fit in and make a life. many creative people consider a necessary Place itself, I began to realize, was the 1 What's going on: the vibrancy of the component of the places where they will consider establishing a household. key factor So much so, that I coined a street life, cafe culture, arts, and music, the visible presence of people engaging in 1 11. a ,k. outdoor activities — altogether a lot of active '':-- ;' ` exciting, creative goings -ons. • Quality of place can be summed up a5 .1 ." ; „;� ri t an interrelated set of experiences Mans oMI t .t' - like those provided by me Street -level A VM! 0; scene, are dynamic and oarticipatory Y 0L ri k r can do more than be a , pectatoi, you rar become a part of the scene But while the street buzz s there to he found if you want it, you can also retreat to your home or some other quiet place, chill out in an _. urban park, or even set out for the countnv 0 11 , Creative- minded people enjoy a mix , i , . ..„, of influences. They want to hear differ - ent kinds of music and try different kinds of food. They want to meet and socialize with people unlike themselves, to trade views and spar over issue; A person's T E S circle of closest friends might not resemble next year by the Journal of the American interviewing close to 43,000 people in 26 the Rainbow Coalition —in fact, it usually Planning Association, even when controlling communities over three years," the Knight doesn't —but creatives want the rainbow to for factors like age, race, and overcrowd- Foundation and Gallup concluded in 2011, be available. ing, gentrifying neighborhoods retain poor "the study has found that three main quali- Authenticity—as in real buildings, real households at a higher rate than do non- ties attach people to place: social offerings, people, real history—is key. A place that's gentrifying ones. Obviously, his study will such as entertainment venues and places full of chain stores, chain restaurants, and be tested and challenged; but even if its to meet; openness (how welcoming a place chain nightclubs is seen as inauthentic. Not statistical findings hold up, it bears remem- is); and the area's aesthetics (its physical only do those venues look pretty much the bering that gentrification imposes other beauty and green spaces)." same everywhere, but they also offer the tolls on long -term residents, even if they Some of my critics argue that my focus same experiences you could have anywhere. are able to remain in their homes. on quality of place, especially in regard to Many members of the Creative Class Two often - overlooked factors that go artistic scenes and diversity, is a trendy want to have a hand in shaping their com- into quality of place are the thickness of pose. Pointing to sprawling tech enclaves m--;ties' quality of place. Years ago, 1 the mating market (only 48 percent of like the suburbs of northern Virginia, Sili- ed a meeting of a downtown revital- U.S. households include a married couple con Valley, or the outer rings of Seattle, ization group in Providence, Rhode Island. today) and, seemingly paradoxically, quasi- they make the point that the people who One participant remarked, "My friends and anonymity. Most people don't want to live work in high -tech industries actually prefer I came to Providence because it already in tightly knit communities, with neighbors traditional suburban lifestyles. My response has the authenticity that we like —its estab- figuratively peering over back fences into is simple: all of those places are located lished neighborhoods, historic architecture, their lives. Life in modern communities within major metropolitan areas that are and ethnic mix." He went on to implore the revolves around a set of looser ties that among the most diverse in the country. group's leaders to make those qualities the allows us to admit a greater variety of As colorless and bland as those suburbs basis of their revitalization efforts and to do people and information into our lives. might appear to some, they are constituent so in ways that actively harnessed his and An attractive place doesn't have to be parts of a broader milieu. Silicon Valley, his peers' energy. Or as he aptly put it, "We a big city, but it does have to be cosmo- for example, can't be understood without want a place that's not done." politan— seething with the interplay of reference to the 196os counterculture of Quality of place does not occur auto- culture and ideas, where outsiders can the wider San Francisco Bay area — Esalen, matically; it is an ongoing, dynamic pro- quickly become insiders and anyone can the Grateful Dead, the Summer of Love, the cess that engages a number of disparate find a peer group to be comfortable with Black Panthers, Harvey Milk, the Castro, aspects of a community. Like most good and groups to be stimulated by. In her and all. Had Silicon Valley not been recep- things, it is not altogether good: what looks book Cosmopolitan Culture, Bonnie Menes tive to offbeat longhairs like the young ike neighborhood revitalization from one Kahn says a great city has two hallmarks: Steve Jobs and Steve Wozniak, it could not Perspective is gentrification from another. tolerance for strangers and intolerance for have become what it is today. Rising housing values often go hand -in- mediocrity. These are precisely the quali- What people want is not an either /or land with the displacement of long -term ties that appeal to members of the Creative proposition. Successful places do not pro - esidents, a serious problem that demands Class —and they also happen to be quali- vide just one thing; they provide a range of i serious response. ties conducive to innovation, risk taking, quality-of -place options for different kinds Interestingly, a counterintuitive trend in and the formation of new businesses. of people at different stages in their lives. u . esearch suggests that gentrification Some critics claim that jobs are the Great cities and metro areas are not mono - s le» disruptive of some neighborhoods only amenities that truly matter. I point Iiths. As Jane Jacobs said long ago, they are han it has been given credit for. Accord- them to the Knight Soul of the Community federations of neighborhoods. ig to a study by Columbia University's study, which is an expanded version of the Think about New York City and its envi- ance Freeman intended for publication survey I began with Gallup years ago. "After rons. When they first move to New York, SEPTEMBER /OCTOBER 7617 IJPRAN 1 A 17tS WPITEc 1 530 acres young people cluster in relatively fun', places like the East Village, South Slope Williamsburg, or Hoboken, where there err Lots of other young people the rent Is t- ion affordable, and roommate situations t ,ir 7e found When they earn 0 line more, taw move to the Upper West Sloe or maybe 'on Greene or tackson Heights earn a little "nor, and they can trade up to ttu.' West Village the Upper East Side Uri + -e marriage air' hi dren tome along, some stay In the city while others relocate to bedroom .ommunities ii .� t k places tike Westchester County, l_or(nectlr ui � ai the New Jersey subi,ros ate., when tie kids are gone, some of these people bu -_ co -op overlooking Central Park or a duplex on the Upper East Side Members of the Cre alive Class come in all shapes, sizes, colors, 198 unit ages, and lifestyles. To be truly successful, t.. cities and regions must offer something for all of them Quality of place defines the very so, e a successful community, the factors that go into ii aesthetic, cultural, �7emograph r — fi 5t add +.f to the things that everyone ,N, the, t cmmunities 'no. , not t ,cv `hat lobs, schools, and safety do no a ` -,o i „ a- � t f�y. matter Of course they Co OL1t those ,,,o V s ., � � �' � a h , �� . frame the issue as an either, or propos f rt ,ion jobs or scones, .,ably of life or oast. �ervo es are offering <t 'albt' cl hook Who's Yoo ( lty iiKt oe0 whar , aunt ir' ,,u• t ommunitiE - - psv(holog' Abraham Masiow's hierarc',y of neec, i , i5 wt' ,Naht more tioni , _,,r ve', tha^ n nen nano, if bodily s,.tbs Stent e w< ,.ist want mole Eton Dui i Jm�lrr /� i 2 tall t)iiatity of place is "ill 'el * lecessity it 13.1 schi LIVii:: �sj • JLI Visiting fellow RICHARD FLORIDA t5alrectar 4=° ~• • -P'.4.4, " " ": " " ' ' " he Martin P osperity institute professor of business e, = t y i id creativity at the Rotman School of Management a i . f t t t • ` t t P `he 01 v,erslt of lcrronlo, and global research professor 3 wfi" �,. L .y "P T S . `� - , _-, 14 ..i . „ ,,,,.. ,f.' .6 '"''s.�..R `� 9 tt; ft 'i. ="� i t : rear. s ,. ' . - i " a � , t 1' Nev, torts lirliversity He is also senior editor al thE ��` ' ' #dr x 5 �'�, -'�3 4 i#" � � '� M 7,r;'"� > '�k'n, '� � � s a�.,�,,a��:.�'�'ay� ' [` �, , � ( E ,( {, t . * , p < {(, Q uUanfiz magazln rlr article n ,adapted from his later' t e : t C`t fE 6 [ ''t (� F V (f) .f( 1(t jitC4t I I, F 1 t c'1�1 r of t w Y '' I 9 " fit . k S * y _7 * too ttoo� ac Rise 0 th, (rOdtlVF ftAt RrVSItal (?g 2 i x , ` i ''' ri as1r aooM' � t� !1 � � 1 r l[f l I t t tlC`�� �� tc k E< ;„:.,.. x �s 1 1 Gt01 Design for the human experience GGLO.COM architecture 1 interior design 1 landscape architecture !planning & urban design „ , ,,,_ ,,... 4 BOYNTON ik =BEACH i CRA BOARD MEETING OF: November 13, 2012 1 Consent Agenda 1 1 Old Business 1 X New Business 1 1 Legal 1 1 Executive Director's Report SUBJECT: Consideration of Submitting an application to the City of Boynton Beach seeking Local Historic Designation for the CRA owned property located at 211 E. Ocean Avenue, a /k/a the Magnuson House. SUMMARY: On March 26, 2007 the CRA purchased the property located at 211 E. Ocean Avenue and has since been identified as the Magnuson House in honor of the founding owner and early pioneer, Oscar Magnuson. In 1996, the City of Boynton Beach performed a property inventory of historic structures and 211 E. Ocean Avenue was identified as "significant ", a circa 1919 and a two story frame vernacular structure relatively unchanged from its original construction. CRA and City staff would like to seek local historic designation for the property through the City of Boynton Beach historic designation process. Obtaining local historic designation allows the owner to seek applicable waivers under the building and accessibility codes in certain instances as well as making the property eligible for the Ad Valorem tax exemption program and potential historic grant programs. The application for local historic designation requires review and approval from both the Historic Resource Preservation Board and City Commission. FISCAL IMPACT: $15 from Project Fund Account #58200 -404. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Downtown Master Plan RECOMMENDATIONS /OPTIONS: Approval to submit an application to the City of Boynton Beach seeking Local Historic Designation for the CRA owned property located at 211 E. Ocean Avenue, a /k/a the Magnuson House. f - -/// ;':- / / Michael Simon, Development Director T.\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012\211 E Ocean Appl for Local Historic Designation doc CITY OF BOYNTON BEACH ' `pi''ca"'°°" °` ° "` ,. PLANNING & ZONING DIVISION 100 East Boynton Beach Boulevard Boynton Beach, FL 33435 Phone: (561) 742 -6260 HISTORIC SITE DESIGNATION APPLICATION 1 GENERAL INFORMATION: This application must be filled out completely, accurately, and submitted as an original to the Planning and Zoning Division, an incomplete application will not be processed Print legibly (in ink) or type all information The application and designation processes are further described in Chapter 4 Article IX, Section 6.0 of the Land Development Regulations Submission requirements: • One original and one copy of a completed application form • Two copies of all supporting documentation and photographs • One pdf copy of the application and supporting documentation • The applicable fee of $15.00 as adopted by the City Commission (please make checks payable to the City of Boynton Beach) Minimum Required Supporting Documentation Site location map A map or survey identifying the boundary of the property to be designated Photographs showing the site, all building elevations. significant features of the site or structure (ail photographs must be credited) A bibliography citing all references and sources e.g titles of books, articles, websites and their authors, photographic credits etc used in completing the application Examples of Optional Supporting Documentation Copies of construction drawings and building permits Historic photographs, maps and surveys Copies of newspaper and magazine articles, diary excerpts Transcripts of oral histories Census data and historic deeds providing information on owners and tenants Florida Master Site File forms Information obtained from online sources Any other relevant supporting information All applicants must attend a pre - application conference with the Historic Preservation Planner. Please call (561) 742 -6757 to schedule an appointment or ask any questions associated with the application. In some cases it may be more convenient to submit two copies of a bound Designation Report including all images and documentation rather than submitting the application form with numerous attachments, especially if there is a substantial amount of supporting information. If this option is chosen an application form containing all required signatures must submitted; however, all other sections can refer the reader to the Designation Report. It is strongly recommended that all applicants refer to National Register Bulletins 15 and 16A which contain detailed information on designation requirements and the terms included in the application. The bulletins are published by the US Department of the Interior and can be viewed or downloaded r..r.,, /rar /rwl hlirvatir,rtc A. PROPERTY INFORMATION: 1. Property Name /Proposed Name: Reason for selecting this name: 2. Property Address: 3. Parcel Control Number (PCN) *: - - - - - - CTY RNG TWP SEC SUB BLK LOT * List all PCN's on an attached addendum for applications comprised of multiple Tots 4. Legal Description *: * Provide on attached addendum if more space is needed. 5. Existing Land Use Classification (from Future Land Use Map): 6. Existing Zoning District (from Official Zoning Map): 7. Is the property located in the Community Redevelopment Agency area? Yes 12 No ❑ 8. If yes to Question #7 above, what is the name of the applicable redevelopment plan? 9. Property Type: Residential ❑ Commercial ❑ Public Building ❑ Archaeological Site ❑ Other (describe) 10. Number of structures on the site: 11. Current Designation: Is the site or structure individually listed on the National Register? Yes ❑ No ❑ Is the site or structure located in a Local or National Historic District? Yes ❑ No ❑ If the site or structure is in a district, is it a contributing site or structure? Yes ❑ No ❑ II. ARCHITECTURE & CONSTRUCTION DETAILS A ARCHITECTURAL INFORMATION (if unsure eave blank and staif wifl assist 1 Original Use Vf Property Current UmeofPnJpertv 2. Architectural Style: _ _ _____' 3. Architect (if known): Source 4. Builder (if known): Source 5. Construction Dates. Source. 6 Has the structure been altered e.g new windows, change of roof covenng etc? Yes l No [l Details (Include descriptions, dates, and sources, continue on a separate sheet if required) 7 Have any additions been made to the property e g extra rooms, extensions? Yes L No '17 Details (Include d000nptmnn, daVeu, and aoumoo, continue on a separate sheet if required) 8. Has the structure been moved? Yes ❑ No ❑ Details (Include descriptions, dates, and sources, continue on a separate sheet if required) B. MATERIALS 1. Foundation: 2. Structural System: 3. Exterior Walls: 4. Roof Types & Materials: 5. Chimney Number & Materials: 6. Windows Type & Materials. 7. Other Materials e.g. Facings, Veneers, Decorative Elements: C. CURRENT CONDITION OF SITE & STRUCTURES Excellent ❑ Good ❑ Fair ❑ Poor ❑ List details of required repairs if known D. OTHER SIGNIFICANT FEATURES List details of any other significant features not included above e.g. exterior building features and ornamentation, interior features, landscape features, etc. A III. HISTORICAL INFORMATION A. SIGNIFICANT EVENTS Describe any historically significant events associated with the site or structure B. SIGNIFICANT PERSONS Provide details of any historically significant persons associated with the site or structure it known, also include details of the original owners. C. ANECDOTES AND /OR STORIES Provide a summary of any anecdotes and /or stories associated with the site or structure D. ARCHAEOLOGY Descnbe any known archaeology associated with the site IV. SIGNIFICANCE A. CRITERIA FOR SIGNIFICANCE A site or structure must have significance in American history, architecture, archeology, engineering or culture and possess integrity of location, design, setting, materials, workmanship, and association. Usually, a structure must also be at least 50 years old. In addition to having integrity, the site or structure must also meet at least one of the following criteria. Check all criteria that apply to the site or structure. ❑ Is associated with events that have made a significant contribution to the broad patterns of the City's history. ❑ Is associated with the lives of persons significant in the City's past. ❑ Embodies the distinctive characteristics of a type, period or method of construction, or represents the work of a master, or possesses high artistic values, or represents a significant and distinguishable entity whose components may lack individual distinction. ❑ Has yielded, or may be likely to yield, information important in prehistory or history. ❑ Is listed in the National Register of Historic Places. Ordinarily cemeteries, birthplaces, graves of historical figures, properties owned by religious institutions or used for religious purposes, structures that have been moved from their original locations, reconstructed historic buildings, properties primarily commemorative in nature, and properties that have achieved significance within the past 50 years shall not be considered eligible for the Boynton Beach Register of Historic Places. However, such properties will qualify if they are integral parts of districts that do meet the criteria or if they fall within the following categories: a. A religious property deriving primary significance from architectural or artistic distinction or historical importance; or b. A building or structure removed from its original location but which is primarily significant for architectural value, or which is the surviving structure most importantly associated with a historic person or event; or c. A birthplace or grave of a historical figure of outstanding importance if there is no appropriate site or building associated with his or her productive life; or d. A cemetery that derives its primary importance from graves of persons of transcendent importance, from age, from distinctive design features, or from association with historic events; or e. A reconstructed building when accurately executed in a suitable environment and presented in a dignified manner as part of a restoration master plan, and when no other building or structure with the same association has survived; or f. A property primarily commemorative in intent if design, age, tradition, or symbolic value has invested it with its own exceptional significance; or g. A property achieving significance within the past 50 years if it is of exceptional importance. 4 B AREA OF SIGNIFICANCE Whereas the Criteria for Significance listed above identify the site or structure s association witr history, the Area of Significance identifies sub -areas within the history field to which the property relates. At least one area of significance from the following list must be identified for ' site of structure to be eligible. Check the Areas of Significance that apply ❑ Agriculture 71 Engineering 1 7, 1 Maritime History ❑ Architecture ❑ Entertainment/Recreation ❑ Military ❑ Archaeology ill Ethnic Heritage 1 Performing Arts ❑ Art ❑ Exploration /Settlement J Philosophy ❑ Commerce C. Health /Medicine Politics /Government ❑ Communications ❑ Industry Religion ❑ Community Planning & Dev i ; Invention Science ❑ Conservation ❑ Landscape Architecture 0 Social History ❑ Economics ❑ Law LI Transportation ❑ Education b..1 Literature Other (explain) C PERIOD OF SIGNIFICANCE The Period of Significance is defined in National Register Bulletin 16A as "the length of time when a property was associated with important events, activities, or persons, or attained the characteristics which qualify it for National Register listing. Period of significance usually begins with the date when significant activities or events began giving the property its historic significance; this is often a date of construction. For prehistoric properties, the period of significance is the broad span of time about which the site or district is likely to provide information it is often the period associated with a particular cultural group " For the site of an important event, such as a pivotal five -month labor strike, the period of significance is the time when the event occurred For properties associated with historic trends. such as commercial development, the period of significance is the span of time when the property actively contributed to the trend For a property associated with a significant person, the period of significance is usually the length of time the property was associated with the important person For architecturally significant properties, the period of significance is the date of construction and /or the dates of any significant alterations and additions The period of significance for an archeological site is the estimated time when it was occupied or used for reasons related to its importance, for example, 3000 -2500 B.0 Identify and explain the periods of significance associated with the site or structure __ D. STATEMENT OF SIGNIFICANCE Based on the above, explain the site or structure's integrity and significance. Include any biographical data on significant persons, architects, builders if known. Continue on a separate sheet if necessary. (Provide typed attachment if preferred). J. BIBLIOGRAPHY All sources cited in this application must be included in the bibliography. Continue on a separate sheet if necessary. (Provide typed attachment if preferred). 8 VI. APPLICANT AND PROPERTY OWNER INFORMATION A. APPLICANT° 1 Name: 2. Address City State Zip Code _. . Phone Email __._ e_____ _ _ -__ _- _______ 3. Interest in Property (check one)* Owner EJ, Agent C, Contract Purchaser __ * Include a copy of the last recorded Warranty Deed with all applications a Include written consent of all property owners of record if subject property is under joint or multiple ownership b. If an authorized agent, include a copy of the Agent Agreement or written consent by the seller(s) and owner(s) B. PROPERTY OWNER INFORMATION. 1 Name of Property Owner (Trustee) — ___ _ ___ _- _ __-, 2 Owner Address ______ ____ _.__ _ _ __ City _ -- - -___ -- State Zip Code _ _____ C. AGENT INFORMATION* 1 Name * All correspondence will be mailed to the agent unless there is no agent of record, in which case, all correspondence will be mailed to the applicant This party will receive agendas, letters, and other material Company Name 2 Address City _ -_ _ State' ._________ -- Zip Code Phone Email. - -- D. AUTHORIZATION OF AGENT Signature of authorized agent Date Signature of Owner(s) or Trustee, of authorized Date principal if property is owned by a corporation or other business entity OR Signature of contract purchaser (if applicant) Date E. CERTIFICATION: (I) (We) understand that this application and all papers and plans submitted herewith become part of the permanent records of the Planning and Zoning Division. (I) (We) hereby certify that the above statements or showings in any papers or plans submitted herewith are true to the best of (my) (our) knowledge and belief. This application will not be accepted unless signed according to the instructions below. Signature of Owner(s) or Trustee, of Date authorized principal if property is owned by a corporation or other business entity. OR Signature of contract purchaser (if applicant). Date A representative must be present at all Historic Resources Preservation Board (HRPB) meetings and City Commission meetings held to review this application. VII. PUBLIC NOTICING REQUIREMENTS: The public noticing requirements contained herein shall be applicable to all historic site designation applications. Pursuant to City of Boynton Beach Ordinance 12 -016, no quasi - judicial proceeding shall proceed antil proof of notice of the proceeding, in affidavit form, has been filed with the Office of the City Clerk and copied to Planning & Zoning. Proof of notice must include the name and address of each property owner to whom notice was mailed and a photograph of each sign posted, as hereinafter required. The following notices must be paid for and provided by the applicant A. MAILING: The applicant shall mail a notice of the time, place and subject matter of the public hearing to all individuals and associations owning or having control over abutting or adjacent property as determined by the Historic Preservation Planner. Property owner details may be obtained from the Palm Beach County Property Appraiser website or by contacting one of the offices listed below. A copy of the notice and a list of the property owners contacted shall be mailed to the Planning and Zoning Division, City of Boynton Beach. All notices shall be mailed by first class mail and postmarked no less than 10 calendar days before the public hearing. Palm Beach County Property Appraiser Office Attention: Mapping Division Downtown Service Center South County Office 301 North Olive Avenue 14925 Cumberland Drive West Palm Beach, FL 33401 Delray Beach, FL 33446 Phone: (561) 355 -2866 Phone: (561) 276 -1250 http://www.pbcqov.com/papa/ 10 B. SIGNAGE One (1) sign for each street frontage of the property shall be posted no less Char calendar days prior to the hearing. Signs shall be legible from a distance of 100 feet and shall contain d description of the approval being sought, the date, time and location of the hearing, and a statemer that the application being considered is available for inspection in the Development Department of the City of Boynton Beach Minimum sign size shall be 24' wide by 18" high PUBLIC HEARING NOTICE HISTORIC SITE DESIGNATION Historic Resources Preservation Board Date: Time: City Commission Date: Time: Location: City Commission Chambers, City Hall 100 East Boynton Beach Boulevard Information: Department of Development (561) 742 -6757 The application may be inspected at the Development Department, City of Boynton Beach (The above sample is not drawn to scale Please customize to accommodate your project information) C. POSTPONEMENT: When a quasi - judicial hearing is tabled or continued at the request of an applicant, re- notice of the hearing shall be provided by the applicant in the same manner as the original notice. D CITY TECHNICAL SUPPORT AT PUBLIC MEETINGS 1. Applicants who wish to utilize City electronic media equipment for presentations at Historic Resource Preservation Board and City Commission Public Hearings must notify the Planning and Zoning Department representative at least one (1) week prior to the scheduled meeting, 2. The notification is to include the scope of support to be provided, including the corresponding agenda item, type of media, materials and equipment needed, along with contact information for the applicant, 3 The department representative will notify the 1 T S Department at least two (2) working days prior to the meeting to schedule technical support, 4 A copy of the items to be presented must be delivered to the IT S Department no later than 6:00 p.m. on the working day preceding the Commission meeting. At the conclusion of the meeting, these items will be returned to the department representative who originated the request, 5 In the event that media or materials are defective 1 T.S Department will notify department representative by noon of the day of the meeting 6. At least thirty minutes prior to the Commission Meeting, non -City individuals will meet with the 1 T S Department representative to finalize procedures E. AFFIDAVIT: AFFIDAVIT RE: Property Address: Project Name: Fife #: I / We, the undersigned do certify that to the best of my knowledge, the attached ownership list is a complete and accurate representation of the real estate property and property owners abutting or adjacent to the above - referenced property as determined by the Historic Preservation Planner. This reflects the most current records on file in the Palm Beach County Property Appraiser's Office. The notifications were postmarked a minimum of 10 days in advance of the public hearing. Site signs were posted on the premises a minimum of 10 days in advance of the public hearing in accordance with City Ordinance 12 -016. Attached, are photographs of the signs showing their placement on the property and the abutting right -of -way. Sincerely, Applicant / Agent Notary Public, State of Florida Cc: Planning & Zoning Department S \Planning\Shared \WP\Spec Prod \Historic\Application Forms \Historic Site Designation Application doc 12 BOYNTON c 'BEACH CRA BOARD MEETING OF: November 13, 2012 1 Consent Agenda 1 1 Old Business 1 X New Business j 1 Legal 1 1 Executive Director's Report SUBJECT: Consideration of Request from Homebuyer Assistance Program (HAP) Grant Recipient Erica Poag to accept the Terms of Short Sale Negotiations SUMMARY: On August 14, 2007, the CRA Board approved a Homebuyer Assistance Program (HAP) Grant in the amount of $50,000 to Erica Poag for the purchase of her home located at 1759 NE 6th Avenue, #1209, in the Preserve and closed on her newly constructed home in December 2007 (see Attachment I). On October 28, 2012, CRA staff received an email from Ms. Poag requesting the opportunity to present the terms of her short sale proposal at the Agency's November 13, 2012 Board meeting (see Attachment II). Ms. Poag is not currently in foreclosure but as not made a mortgage payment in September or October 2012. The conditions of the short sale offer being presented is as follows: Original Purchase Price: $239,990 Current Short Sale Offer: $ 87,000 First Mortgage: $186,109 CRA 2 Mortgage: $ 50,000 ADDITIONAL BACKGROUND: In December 2006, the developers of The Preserve, Boynton Village, LLC, received approval from the CRA Board to enter into a Direct Incentive Funding Agreement (DIFA) for the creation of 50 affordable housing opportunities. Under the Second Amendment to the DIFA approved by the CRA Board on October 12, 2010, the Agreement was amended to allow at least 100 units be designated as Affordable Access Rental Units for households earning 60% of median income or less despite out spoken objections by HAP grant recipients and other Preserve residents at both the CRA and City Commission meetings (see Attachment III). As a result of the nationwide Chinese Drywall epidemic, many of the units at the Preserve were built with the drywall and were subject to mitigation measures. HAP grant recipients occupied the majority of these affected units. In addition to the CRA's financial obligations to the developer set forth under the terms of the DIFA, the Agency has provided $945,000 in CRA HAP grant funding to nineteen (19) income eligible recipients for the purchase of these affordable units in the Preserve. Eleven of these grant recipients are in various stages of the foreclosure process. FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Heart of Boynton Plan RECOMMENDATIONS /OPTIONS: Provide staff direction. rr i i Michael Simon, Development Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \HAP Poag reqst for short sale terms.doc ATTACHMENT I IN A. Settlement Statement U.S. Department of Housing OMB Approval No 2502 -0285 - i r and Urban Development (expires 11/3(/2009) B. Type of Loan 1 0 FHA 2.0 RHS 3. 831Conv. Unins. 6. File Number 7. Loan Number 8. Mortgage Insurance Case Number I14.❑ VA 5. ❑ Cony. Ins. 419 524P 1002150 C C. Note: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown Items marked '(p.o.c.T were paid outside the dosing; they are shown here for information purposes and are not included in the totals. D Name and Address of Borrower E. Name and Address of Seller F Name and Address of Lender ERICA POAG BOYNTON VILLAGE, LL C., A FLORIDA LIMITED LIBERTY HOME LENDING, INC. 1759 NE 6TH AVENUE LIABILITY COMPANY 568 YAMATO RD 2ND FLOOR BOYNTON BEACH, FLORIDA 1759 NE 6TH AVENUE BOCA RATON, FL 33431 BOYNTON BEACH, FLORIDA G. Property Location H. Settlement Agent 1759 NE 6TH AVENUE #1209 TRANS-STATE TITLE INSURANCE CORP BOYNTON BEACH, FLORIDA Place of Settlement 1 Settlement Date ONE PARK PLACE 621 NW 53 ST #240 12/18/07 BOCA RATON, FLORIDA 33487 J. SUMMARY OF BORROWER'S TRANSACTION: K. SUMMARY OF SELLER'S TRANSACTION: 100. GROSS AMOUNT DUE FROM BORROWER , 400. GROSS AMOUNT DUE TO SELLER 101 Contract sales pnce 239.990,00 401. Contract sales price 239,990.00 102. Personal property 402. Personal property 103. Settlement charges to borrower (line 1400) 6,307.40 403. _104.1.75% DEVELOPERS FEE (2000.00 waived) 2,199.83 404.1 75% DEVELOPERS FEE (2000.00 waived) 2,199.83 105. UPGRADES 5.000.00 405 UPGRADES 5,000.00 Adjustments for items paid by seller in advance Adjustments for items paid by seller in advance 106. City /town taxes to 406. City /town taxes to 107. County taxes 12/18 to 12/31 24.32 407. County totes to 108. Assessments to 408. Assessments to 109. TWO MONTHS WORKING CAPITAL TO MASTER 500.26 409. 110. TWO MONTHS WORKING CAPITAL TO CONDO 4.38 410 111. CONDO MAINT 12/18/07 TO 01/31/08 3.47 411 112. MASTER ASSOC 12/18/07 TO 01/31/08 395.39 412. 120. GROSS AMOUNT DUE FROM BORROWER 254,425.05 420. GROSS AMOUNT DUE TO SELLER 247,189.83 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER 500. REDUCTIONS IN AMOUNT TO SELLER 201 Deposit or eamest money 12,200.00 501. Excess Deposit (see instructions) I 202. Principal amount of new loan(s) 191, 950.00 502. Settlement charges to seller pine 1400) 21,230.53 203. Existing loan(s) taken subject to 503 Existing loan(s) taken subject to 204. 504 Payoff of first mortgage loan 229,206.45 CITY NATIONAL 205. CRA FUNDS 50,000.00 505. Payoff of second mortgage loan 206. 506. 1 207. NON RECURRING SELLER CONCESSION FOR UPGRAD 5,000.00 507 NON RECURRING SELLER CONCESSION FOR UPG 4AD 5,000.00 1 208. SECURITY DEP REFUND 400.00 50 8. SECURITY DEP REFUND 400.00 209. LEASE CREDIT 12/14/07 TO 12/31/07 564.52 509 LEASE CREDIT 12/14/07 TO 12/31/07 564.52 Adjustments for Items unpaid by seller Adjustne is for items unpaid by seller 210. City/town taxes to 510. City/town taxes to 211. County taxes to 511 County taxes 01/01 to 12/18 609.63 212. Assessments to 512. Assessments to 213. 513. 214 514. 215. 515. 216. 516. 217. 517. 218. _ 518. MASTER MAINT 01/1907 TO 12/18/07 459 95 219. J 519 CONDO MAINT 10/16/07 TO 12/18/07 4.25 220. TOTAL PAID BY /FOR BORROWER 260,114 52 520. TOTAL REDUCTION AMOUNT DUE SELLER 257,475.33 300. CASH AT SETTLEMENT FROM OR TO BORROWER 600. CASK AT SETTLEMENT TO OR FROM SELLER x 301. Gross amount due from borrower (line 120) 254,425.05 601. Gross amount due to seller (fine 420) 247,189.83 302. Less amounts paid by/or borrower (line 220) 260,114.52 602. Less reduction amount due to seller pine 520) 257,475.33 303. CASH TO BORROWER 5,689.47 603. CASH FROM SELLER 10,285.50 IN THE EVENT THE TAXES DFFER WHEN THE TAX BTU. FOR THE CURRENT YEAR IS RECEIVED, THE PARTIES AGREE TO RE PRORATE SAME BETWEEN THEMSELVES, THIS IS IMPORTANT TAX INFORMATION AND IS BEING RIRMSNED TO 111E INTERNAL REVENUE SERVICE ('I RS'). IF YOU ARE REQUIRED TO FILE A RETURN, A NEGLIGENCE PENALTY OR OTHER SANCTION MAY BE IMPOSED ON YOU IF THIS INCOME IS TAXABLE AND THE IRS DETERMINES THAT IT HAS NOT BEEN REPORTED 12 -18 -2007 at 6:24 PM form HUD -1 (3/86) ref Handbook 4305.2 U S D E P A R T M E N T OF HOUSING AND URBAN 'ELOPME9 .>t f 1 L OMEN i a - EMEN , L SETTLEMENT CHARGES File Number 419 -5241 PAID FROM PAID FROM 700 TGTAL SALES/BROKER'S COMMISSION based on nce $ 239 990 00 r 5 00 999 50 BORROWER'S SELLER'S E - FUNDS AT FUNDS AT Division of commission (line 700) as follows SETTLEMEN! SETTLEMENT 701 5 10 000 00 to RESOLUTIONS REAL r 1,999 50 Less 1 999 501 702 5 703 Commission paid at Settlement buer credit from re agent 999 03 "199 5C 704 - — - - -- - - -- - - 800 ITEMS PAYABLE IN CONNECTION WITH LOAN P O C 801 Loan Ongmation Fee % LIBERTY HOME LENDING, INC 2 879 25 802 Loan Discount % LIBERTY HOME LENDING, INC , 18 2' 803 Appraisal Fee to ADVANCE APPRAISAL SERVICE 300 00 804 Credit Report to LANDSAFE CREDIT 805 Lender's Inspection Fee _ to 806 Mtg Ins Application Fee El_ 807 Assumption Fee 808 TAX SERVICE CDSC . Ot 809 FLOOD CERT LANDSAFE FLOOD ' 810 INSPECTION FEE ADVANCE APPRAISAL SERVICE ISO 07 811 812_ 813 814 815 900 ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901 Interest from 12/18/07 to 01/01/08 @$ 32 2 !day 14 days _ 450 95 902 Mortgage Insurance Premium to 903 Hazard Insurance Premium yrs to 904 _ _ I 905 - 1000 RESERVES DEPOSITED WITH LENDER FOR 1001 Hazard Insurance mo @;$ mo _ 1002 Mortgage Insurance _ mo _$ MC, ' 1003 City property taxes mo @$ 1004 County property taxes 4 mo Oa,$ 300 00 Imo 1,200 00 1� 005 Annual Assessments mo @$ t ma 1 1006 mo @S ' mo 1007 mo @S ' mo 1008 Aggregate Reserve for Hazard /Flood Ins, Cry /County_Prop Taxes. Mortgage Ins & Annual Assessments 1100 TITLE CHARGES ' 1101 Settlement or dosing fee to TRANS -STATE TITLE INSURANCE CORF 350 07 1102 Abstract or title search to DATATRACE/TST 25000 1103 Title examination to 1104 Title insurance binder to 1105 Document preparation to 1106 Notary fees to _ 1107 Attorney's fees to (includes above Item No 1108 Title insurance to TRANS -STATE TITLE INSURANCE CORP 'o OF '86 08 _ -- (includes above item No — -- -- --- _ - - - 1109 Lender's coverage 191.950 00 — 25 00 ind 25 OD Risk Prem 1110 Owner's coverage 239,990 00 — 786.08 and 1,275.00 Risk Prem 1111 FF9 AND 81,4 ENDORSEMENT FIRST AMERICAN/TST _ 247 50 _ 1112 - - 1113 ' 1200 GOVERNMENT RECORDING AND TRANSFER CHARGES _ _ _ _ 1201 Recording fees Deed $ 19 10 Mortgage $ _ 301 70 Releases $ 27 60 301 70 46 7C 1202 City /county /stamps Deed $ Mortgage $ 1203 State tax/stamps Deed $ 1,680.00 _ Mortgage $ 847 00 847 00 ',680 00 1204 Intangible Tax Deed $ Mortgage $ _ 483 90 _ _ . _ _48390_ _ 11 1205 NON -ID AFF 27.60 1300 ADDITIONAL SETTLEMENT CHARGES 1301 Survey to 1302 Pest inspection _` -- to _ . 1303 COURIER/HANDLING/EXPRESS TRANS -STATE TITLE INSURANCE CORP 100 00_ '304 TELETAXJHARDCOPIES DATATRACEJTST _ _ _ 35 00 1305 WIRE TRANSFER FEE SUNTRUST 55 00_ ' 1306 SDN PATRIOT ACT NAME SEARCH DATATRACE/TST 30 00 i 1307 LOAN CLOSING FEE TRANS-STATE TITLE INSURANCE CORP 425 00I 1308 EMAILJLD/FX TRANS-STATE TITLE INSURANCE CORP 50 - 1400 TOTAL SETTLEMENT CHARGES (enter on lines 103 and 502, Sections J and K) 6,307 40 j 21,230 53 1 have carefully reviewed the HUD-1 Settlement Statement and to the best of ny knowledge and Deter It is a Yue and accurate staleakenEof all receipts and Clsoursamonis made oh my account or o>' me In the I'ansa411on I further cerlfy Thal 1 have received a copy of the HUD -1 Settlement Statemen' ERICA POOAG Tt -- 90YNTON VILLAGE L L C A FLORIDA-EMI LIABILITY COMPANY The HUD-1 Selaement Statement wm,ch 1 have prepare0 ∎ 5 a Irue and acCurale ac0Our, n' n s lran4rtv0 P+ r_luseo , . . i i ■ Cause ne hind; 10 oe 0IS00rSer' ,, 3000Md *C# w'- 3 + TRANS -STATE TITLE INSURANCE CORP II/ __ WARNING it is a Mille t0 knowim 9y make 13153 staterooms 10 ire Under, S131e5 0r (Pp. sr any 0 he L +t)) r r'cna „1 .5 , ,,r a f'. , +n +dud( 1 Pr , Tpnso „ - ,e 0' n3,3 „ ,'r -e it ' ^ _ 5 t Section 100' and S0e0Orl 1010 12 -18 -2007 at 6 24 PM worm HUD -' (3/86) ref Handbook 4305 2 teturn To: Lice A. Bright Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33405 561- 737 -3256 Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement In order to further its goal of creating affordable housing opportunities, the Boynton Beach Community Redevelopment Agency (Grantor) hereby grants financial assistance in the amount of $50,000.00 pursuant to its Homebuyer Assistance Program (Program) to ERICA POAG (Grantee /s) to purchase real property described as: Insert Legal Description (Property) In exchange for the funding the Grantee /s understand and agree to the following terms and conditions. It is further understood by recipient that a lien shall be placed on the real property described above. 1. Grantee /s state that all information submitted to the Grantor in order for the Grantor to determine eligibility for the program is true and correct. 2. Grantee /s hereby state that the purchase price of the Property does not exceed $280,000. 3. Grantee /s hereby state that the amount of Program funding is not more than 50% of the cost of the Property. 4. Grantee /s hereby state that they have not owned a residence within the last three years prior to the purchase of the Property. 5. Grantee /s state that they understand that the grant amount will be secured by a second or third mortgage on the Property. a. The mortgage interest rate shall be 0% unless any of the following occur: i. The property is no longer occupied by the Grantee as their full time residence; ii. The grantee secures a line of credit, equity loan, etc. secured by the Property without the written consent of Grantor. iii. The property is leased. b. In the event that the Grantee /s sells the property to a non - income qualified buyer (a family whose income exceeds 120% of median household income for Palm Beach County), leases the property, refinances the property or Page 2 of does not reside in the property as their full -time residence, the full sum of the Grant plus interest of 4% annum from the date of this agreement shall be due and payable 6. Grantee /s state that they understand that upon the sale of the property within the first five (5) years of ownership, the Grantee /s must pay eighty percent (80 %) of the equity (determined by a fair market appraisal) to the Grantor. During years six (6) through twenty (20), fifty percent (50 %) of the equity shall be payable to the CRA. During years twenty -one (21) through thirty (30), fifteen percent (15 %) of the equity is payable to the CRA. The Grantor's share of equity is due at closing. 7. The Grantor reserves the right of first refusal to purchase the Property at the fair market appraised value. Grantee must notify Grantor in writing of their intent to sell The Grantor shall have 45 days from the date of receipt of intent to sell, to exercise the right to purchase. Grantor shall notify Grantee in writing of the decision. 8 Grantee acknowledges that it has received a Loan Assistance Note and Mortgage of even date with this Agreement and is familiar with, understands and accepts the terms and conditions contained therein as well as the terms and conditions contained in this Agreement For Grantor: For Grantee/s' Boynton Beach Community Redevelopment Agency 1 f y j y Executive Director � Signature Lisa A. Bright Date: ERICA POAG Print Name Date. 12/18/2007 eturn To: Lisa A. Bright Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33405 561- 737 -3256 MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE THIS MORTGAGE DEED executed this 18TH day of December, 2007 by ERICA POAG, A SINGLE WOMAN whose address is 1759 NE 6 AVE, BOYNTON BEACH, FL 33435 (hereinafter called the "Mortgagor "), and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, Florida Statutes, whose address is 915 S Federal Highway, Boynton Beach, Florida 33435 (hereinafter called "Mortgagee "): WITNESSETH: That for good and valuable consideration, and also in consideration of the aggregate sum named in the promissory note of even date herewith, hereinafter described, the Mortgagor hereby grants, bargains, sells, promises, conveys and confirms unto the Mortgagee all the certain land of which the Mortgagor is now seized and in possession situated in Palm Beach County, Florida, to -wit: Leval Description Condominium Unit No. 1209, of THE PRESERVE AT BOYNTON BEACH 12, a Condominium, according to the Declaration of Condominium thereof, as recorded in Official Records Book 22185, Page 0383, of the Public Records of PALM BEACH County, Florida; together with an undivided share in the common elements appurtenant thereto. Property Address:1759 NE 6 AVE, BOYNTON BEACH FL 33435 THIS IS A SECOND MORTGAGE, subject to the first Mortgage from Mortgagor to LIBERTY HOME LENDING, INC, ISAOA, in the original principal amount of $ 191,950.00. TO HAVE AND TO HOLD the same, together with the tenements, hereditaments and appurtenances thereto belonging, and the rents, issues, and profits thereof, unto the Mortgagee in fee simple. AND the Mortgagor covenants with the Mortgagee that the Mortgagor is indefeasibly seized of said land in fee simple; that the Mortgagor has good right and lawful authority to convey said land as aforesaid; that the Mortgagor will make such further assurances to perfect fee simple title to said land in the Mortgagee as may reasonably be required; that the Mortgagor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free and clear of all encumbrances other than the certain first and second mortgages referenced above. PROVIDED ALWAYS, that said Mortgagor shall pay unto said Mortgagee a certain promissory note hereinafter substantially copied or identified, to -wit: See Attached Exhibit A MORTGAGE DEEI? FOR GAP MORTGAGE ASSISTANCE Page 2 of 5 AND the Mortgagor hereby further covenants to occupy the subject premises as its principal residence and further covenants that if the subject premises is leased, sub - leased at otherwise devised or assigned to any person or entity dunng the term of the first mortgage then the principal shall become due and payable in full together with interest at four percent (4 %) per annum calculated from the time of purchase AND upon sale of the property within the first five (5) years of ownership Mortgagor must pay eighty percent (80 %) of the equity in the property (as determined by fair market appraisal to Mortgagee and the City proportionate to the amount of funding received from each. During years six (6) through twenty (20) of ownership Mortgagor shall pay to the Mortgagee and City fifty percent (50 %) of the equity in the property upon sale and during years twenty -one (21) through thirty (30) fifteen (15 %) of the equity in the property shall be paid to the Mortgagee and City proportionate to the amount of funding received from each AND Mortgagor shall perform, comply with and abide by each and every agreement, stipulation, condition and covenant in the Note, this mortgage and the Homebuyer Assistance Program Agreement attached hereto as Exhibit `B" and incorporated herein by reference (hereinafter "Agreement ") AND the Mortgagor hereby further covenants and agrees to pay promptly when due the principal and interest, if any interest shall be due, and other sums of money provided for in said Note and this mortgage, or either, to pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature on said property, to keep the property in good repair and to permit, commit or suffer no waste, impairment or deterioration of the property or any part thereof, except for reasonable wear and tear, so as to be in compliance with the Minimum Housing Code of the City of Boynton Beach, Florida at any time; to keep the buildings now or hereafter existing on said land fully insured in a sum of not less than market value with a company or companies acceptable to the Mortgagee, the policy or policies to be held by and payable to said Mortgagee, and in the event any sum of money becomes payable by virtue of such insurance the Mortgagee shall have the right to receive and apply the same to the indebtedness hereby secured, accounting to the Mortgagor for any surplus; to pay all costs, charges and expenses including attorney's fees and title searches reasonably incurred or paid by the Mortgagee because of the failure of the Mortgagor to promptly and fully comply with the agreements, stipulations, conditions and covenants of said Agreement, Note and this mortgage; to perform, comply with and abide by each and every of the agreements, stipulations, conditions and covenants set forth in said Agreement, Note and this mortgage. In the event the Mortgagor fails to pay when due any tax, assessment, insurance premium or other sum of money payable by virtue the Agreement, Note and this mortgage, the Mortgagee may pay the same, without waiving or affecting the option to foreclose or any other right hereunder, and all such payments shall bear interest from date thereof at the highest lawful rate then allowed by the laws of the State of Florida AND IN THE EVENT of a voluntary sale or foreclosure, Mortgagor shall first provide notice of same to Mortgagee who shall have the first right to purchase the property from the Mortgagor for the fair market value of the property as determined by a current certified appraisal. Mortgagee shall have fifteen (15) calendar days after the date it receives a copy of the proposed contract to determine • MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE Page 3 of 5 whether to exercise its right to purchase hereunder by sending written notice to the Mortgagor (it being understood that Mortgagee's purchase price shall be the lesser of that set forth in said appraisal or proposed contract). Such notice shall reserve thirty (30) additional days for Mortgagee to complete all necessary preparations and close. AND IN THE EVENT any sum or money herein referred is not promptly paid within thirty days after the same becomes due, or if each and every agreement, stipulation, condition and covenant of said Agreement, Note and this mortgage, are not fully performed, complied with and abided by, then the entire sum unpaid thereon, shall forthwith or thereafter, at the option of the Mortgagee, become and be due and payable, anything in said Note or herein to the contrary notwithstanding. Failure by the Mortgagee to exercise any of the rights or options herein provided shall not constitute a waiver of any rights or options under said Note or this mortgage accrued or thereafter accruing. AND IN THE EVENT Mortgagor elects to refinance the Property, Mortgagor shall repay the entire principal balance in full together with interest at four (4 %) per annum calculated from the time of purchase. MORTGAGOR hereby acknowledges receipt of the Agreement and has familiarized itself with the terms and conditions contained therein, said terms and conditions being incorporated herein by this reference and binding upon Mortgagor. MORTGAGOR SHALL NOT execute an assumption or in any way convey its obligations under this mortgage or Note secured hereunder without the proper written consent of Mortgagee. IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and sealed its presence the day and year first above written. WITNESSES: BORROWER(S): 1�� 1 L IYOCk Print Name: Print Name: ERICA POAG v Print Name: Print Name: MORTGAGE DEED FOR GAP MORTGAGE A SSISTANCF Page 4 of STA'L'E OF FLORIDA ) COUNTY OF PALM BEACH ) The foregoing instrument was acknowledged before me this 18TH day of December__, 2007 hti ERICA POAG, who 'i ispersonally known to me or who has produced --E-g- _ _` __ ___ __ as identification and who did take an oath rc (Seal) Notary Public: '' ° / ;� i . 7 Pr .C4./. gWANK IN oAtEP mtName. DALE P SWANK III ", v'v "u.� Public - State A F24, 2010 '�� 54379 State of Flonda at Large ii g bo a e nal Notary Assn. ", iW O ;;ss Bonded N a S o My Com mission Expires: • MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE Page 5 of 5 Exhibit "A" GAP MORTGAGE PROMISSORY NOTE Amount $ 50,000.00 Date: 12/18/2007 FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of the City of Boynton Beach, Florida (herein referred to as "Mortgagee "), the sum of FIFTY THOUSAND AND 00 /100 DOLLARS ($ 50,000.00), without interest, in lawful money of the United States, at 915 S. Federal Highway, Boynton Beach, Florida 33435 or at such other place as the Mortgagee may designate in writing. This Note is given in accordance with the terms of and evidences a gap mortgage loan given by the Mortgagee for the exclusive purpose of acquisition of an existing single family residential unit; acquisition and rehabilitation of an existing single family residential unit; construction of a single family residential unit; lot acquisition and construction of a single family residential unit; or acquisition of an existing townhome or condominium; which the undersigned will occupy as their principal residence. THE UNDERSIGNED RESERVE(S) the nght to repay at any time all or any part of the principal amount of this Note without the payment of penalties or premiums and thereby remove the mortgage on the property securing this Note, provided that the cost of removal of said mortgage plus all other fees involved will be borne by the undersigned. THE MORTGAGEE AND THE UNDERSIGNED severally waive(s) demand, protest and notice of maturity, non - payment or protest and all requirements necessary to hold each of them liable as makers and endorsers. THE UNDERSIGNED further agree, jointly and severally, to pay all costs of collections including a reasonable attorney's fee in case the principal of this Note or any payment on the principal or any interest thereon is not paid at the respective maturity thereof, or in case it becomes necessary to protect the security hereof, whether suit be brought or not. THIS NOTE is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the State of Florida; and uponc`default in payment of the principal when due, the whole sum of principal and remaining unpaid balance shall, at the option of the City, become immediately due and payable. BORROWER(S): P. eoct Print Name: ERICA POAG ATTACHMENT II Page 1 of 3 Simon, Michael From: Simon, Michael Sent: Monday, October 29, 2012 2.14 PM To: 'E Poag' Cc: Brooks, Vivian, Harns, Susan; Utterback, Theresa Subject: RE: November 13th CRA Board Meeting Thank you Ms. Poag. I am sorry that the conditions of your homeownership experience have taken this turn The information you sent is exactly what I was looking for. .A brief paragraph regarding the reason for your short sale might be helpful to the Board since you arc not currently in foreclosure, as well as a copy of some official indication that the bank has approved the "short sale" option if in fact they have Please have Ms. Godden send the same information for her short sale conditions and I'll put together a separate agenda cover for her request. As you know, the CRA Board meeting will be held on November 13, 2012, at 6.30pm in City Hall Commission Chambers, located at 100 E. Boynton Beach Boulevard. Please do not hesitate to contact me with any questions or concerns. Rope din lly, Michael Simon Development Director Boynton Beach CRA 710 N. Patera/ 1Iighivay Boynton Beach, FL 33435 Oft.: ..: 561 -73 7 -3256 ext. 206 Faa . 561 -73 7 -3258 iimonm(c�66fl.ne From: E Poag [mailto:bsballgrl9 @hotmail.com] Sent: Monday, October 29, 2012 1:21 PM To: Simon, Michael Cc: Brooks, Vivian; Harris, Susan; Utterback, Theresa Subject: RE: November 13th CRA Board Meeting Thank you for the response Mr. Simon. I'm not sure what you mean by specific conditions of the short sale structure. The current value of the property based on Palm Beach County Property Appraiser's Office is $82,950. (I added on 15% as the Property Appraiser's Website is only 85% of market, usually.) My first mortgage is at $186,109 - I have not made a payment on the mortgate as of 09 -01 -12 and I am not currently in foreclosure. Second mortgage from the CRA is $50,000. I have a contract on the property for $87,000. Please let me know if you require any additional information s w111 forward Ms Godden's Information as soon as 1 is available. Thank you very much for your time Have a wonderful day, Erica Subject: RE: November 13th CRA Board Meeting Date: Mon, 29 Oct 2012 11:57:50 -0400 From: SimonM @bbfl.us To: bsballgrl9 @hotmail.com CC: BrooksVi @bbfLus; HarrisSu @bbfl.us; UtterbackT @bbfl.us 1)1()1111110 \ (1,ft it 11ly t i'lC' ,■t ^ 1 <t , , - 101"‘, rcga Y]ll it `i G i' 1 dill( / ( ,71, :' i)1S`11i,a 'i' , in (1;i Cr i 1 11(1 \t' yi' I /t /L (J/ / '' / `llu'•, 11; / , ?(/ Oro ' From: E Poag [mailto:bsballgrl9 @hotmail.com] Sent: Sunday, October 28, 2012 12:40 PM To: Brooks, Vivian; Harris, Susan; Hill, Vicki; Simon, Michael; Hay, Woodrow; McCray, Mack; Ross, Marlene; Holzman, Steven; Buchanan, James; Karageorge, Mark Cc: Lauren Godden Subject: November 13th CRA Board Meeting Importance: High Good Day, My name is Erica Poag. I am writing on behalf of myself and Lauren Godden. We would like the opportunity to speak with the Board at the November 13th CRA Board meeting regarding the CRA Grant Money we received. We Page 3 of 3 are in the process of short selling our homes, which we received grant money for. Please let me know what we need to do in order to be added. If you have any questions or comments, you may reach me via email or on my cell phone at 512 - 293 -9840. I look forward to hearing from you. Kind Regards, Erica Poag ATTACHMENT III DIRECT INCENTIVE FUNDING AGREEMENT This Direct centive Funding Agreement (hereinafter "Agreement ") is entered into as of the /211. day of 2006, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as "CRA "), with a business address of 915 South Federal Highway, Boynton Beach, Florida 33435. And Boynton Village, LLC, (hereinafter referred to as "Developer "), with a business address of 2121 Ponce de Leon Boulevard, PH, Coral Gables, Florida 33134, and/or assigns. RECITALS: WHEREAS, as part of its strategy to encourage homeownership by families within certain income brackets, the CRA has instituted certain programs to provide incentive funding to developers, including the Direct Incentive Program for Workforce Housing adopted on August 8, 2006, for direct assistance offered by the developer to such qualifying homebuyers; and WHEREAS, at the September 12, 2006, meeting of the CRA Board, the CRA Board approved amending its Homebuyers Assistance Program and directed staff to begin negotiations with Developer to create between 25 and 50 affordable homeownership opportunities for a project known as The Preserve (hereinafter the "Project ") (subsequently, Developer agreed to set aside 50 affordable units as set forth within this Agreement); and WHEREAS, Developer is hereby submitting to the CRA a proposal to offer to qualified homebuyers such assistance for the Project; and WHEREAS, the CRA intends to provide incentive funding to the Developer for such homeownership opportunities on the basis set forth herein; and WHEREAS, this Agreement is not intended to be a "Development Agreement" within the meaning of Florida Statutes, Section 163.3221. NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements herein contained and other good and valuable consideration, the receipt of which is hereby acknowledged, it is agreed herein between the parties as follows: Section 1. Recitals. The foregoing recitals are true and correct at the time of the execution of this Agreement and are incorporated herein. O:\CORD003 - Boynton Beach CRA - Cornerstone DWA —10 -27-06 1 Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings: "Affiliate" of a party means any corporation, partnership, limited liability company, trust or other entity controlling, controlled by, or under common control with such party (whether directly or indirectly through one or more intermediaries). For the purpose of this definition, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies, whether through the ownership of voting interest or by contract or otherwise. "Affordable Access Unit" means the fifty (50) units committed to by Developer to qualify for the affordable access as described in this Agreement (also described as "Workforce Housing" within the CRA Guidelines). "Agreement" means this Direct Incentive Funding Agreement and all exhibits and attachments thereto, as any of the same may hereafter be amended from time to time, by mutual agreement of the parties. "Developer" means Boynton Village, LLC, and any assignee or transferee of Boynton Village, LLC, that is permitted under this Agreement, from and after the date of such permitted assignment or transfer. "City" means the City of Boynton Beach, Florida. "Pledged Project Increment Revenues" means the Project Increment Revenues received by the CRA which are pledged to the Developer as set forth within Section 6.1.C. of this Agreement. "Project" means The Preserve as described above in the second "Whereas" clause, and as further described in the Application defined above and in the site plan defined below. "Project Increment Revenues" means the amount deposited in the Redevelopment Trust Fund for the Redevelopment Area pursuant to Florida Statutes, Section 163.387, which is attributable to the Project, using $1,025,000 as the 2004 base year amount in calculating such increment revenues, so that increment revenues for the Project are equal to all amounts over the base year amount. "Property" means the real property described on Exhibit "A ", attached hereto "Redevelopment Area" means those areas within the limits of the City which have been declared blighted in accordance with the provisions of Florida Statutes, Chapter 163, Part III. "Redevelopment Trust Fund" means the trust fund established pursuant to Section 163.387, Florida Statutes for the deposit of incremental revenues attributable to the Redevelopment Area. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 r "Site Plan means that as approved by the City of Boynton Beach City Commission by motion and vote on April 5, 2005, a copy of which is to be attached hereto as Exhibit "B". "Substantial Completion" or "Substantially Complete" means the point at which the Palm Beach County Property Appraiser has placed the improvements on the Tax Roll. "Tax Collector" means the duly elected tax collector for Palm Beach County, Florida. "Tax Roll" means the real property ad valorem assessment roll maintained by the Palm Beach County Property Appraiser for the purpose of the levy and collection of ad valorem taxes. Section 3. Effective Date. This Agreement shall be effective on the date that the last party to sign executes this Agreement (hereinafter "Effective Date "). Section 4. Developer Obligations — Construction. Developer agrees to construct or cause to be constructed the Project as described in the Site Plan in order to receive the full Direct Incentive Funding as provided for in Section 6 hereof. The Site Plan may be modified from time to time in accordance with and pursuant to the Code of Ordinances of the City of Boynton Beach; provided, however, that Developer shall not have the right to substantially reduce the number of residential units, change the exterior appearance, including landscaping, the size or scope of the amenity areas, the number of parking spaces or to make any other change which would cause the Project to differ substantially from the approved Site Plan without the prior written approval of the CRA in order to receive the full Direct Incentive Funding as provided for in Section 6 hereof. "Substantially" as used in this Section means any change that would require a major Site Plan Modification. Developer and the CRA acknowledge, agree and understand that the Project is under construction as of the date of this Agreement. 4.1. Non - Discrimination. Developer agrees that no person shall on the grounds of race, color, disability, national origin, religion, age, familial status, sex or sexual orientation be excluded from the benefits of, or be subjected to discrimination under, any activity carried on by Developer, its contractors, sub - contractors, or agents, in the performance of this Agreement. Should such discrimination occur, the CRA will provide notice to Developer that it claims there has been a breach of this condition and thereafter, Developer shall have fifteen (15) business days to demand arbitration as to the claim of discrimination. The parties will then mutually agree in writing to an arbitrator and if they cannot agree, the rules of the American Arbitration Association will govern. The arbitration will be governed by the rules of the American Arbitration Association regardless of whether an arbitrator is agreed upon by the parties. This arbitration shall be independent of any other actions being taken by other governmental agencies. However, a finding by any other agency or court that such discrimination has occurred may be relied upon by the CRA as conclusive proof of a breach of this provision, provided such finding is final and not appealable. If Developer does not demand arbitration within fifteen (15) business days, or if arbitration is conducted and it is determined by the arbitrator that discrimination occurred, the CRA shall have the right to terminate this Agreement and pursue any and all other lawful remedies. The cost of such arbitration shall be borne by the non - prevailing party. Such non - prevailing party shall be determined by the arbitrator. O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 3 4.2. Convicted Vendor List. As provided in F.S. 287.132 -133, by entering into this Agreement or performing any work in furtherance hereof, Developer certifies that it, and its affiliates, contractors, sub - contractors or agents who will perform hereunder, have not been placed on the Convicted Vendor List maintained by the State of Florida Department of Management Services within thirty-six (36) months immediately preceding the Effective Date. Section 5. Affordable Access Requirements. As a condition precedent to its receipt of any funds pursuant to this Agreement, Developer and its successors or assigns, shall implement an affordable access component to the Project as provided for in this Agreement, the CRA's Workforce Housing Direct Incentive Program Guidelines, and as set forth below ( "Affordable Access Requirements "). Implementation and maintenance of the Affordable Access Program shall be as follows: 5.1. Affordable Access — Residential. 5.1.1. Developer agrees to set aside fifty (50) units designated as Affordable Access Units. 5.1.2. Developer agrees to reduce the price of the fifty (50) units designated as Affordable Access Units by Sixty Thousand and No /100 Dollars ($60,000.00) for the Cypress Model, Fifty Thousand and No /100 Dollars ($50,000.00) for the Palm Model, and Forty Thousand Dollars ($40,000.00) for the Banyan and Hibiscus Models (see attached Price List marked as Exhibit "C" which is attached hereto and made a part hereof) to buyers whose income does not exceed 120% of Median Household Income ( "MHI ") for Palm Beach County as set by the United States Housing and Urban Development ( "HUD ") for the year 2006. Proof of income qualification for the Affordable Access Units shall be provided to the CRA prior to any disbursement of Pledged Project Increments Revenue. Examples of acceptable forms of proof include HUD closing statements executed by the buyer and seller; copies of two years of tax returns; and/or paycheck stubs for all adults in the buyer's family for the two weeks prior to closing including proof of family size. 5.1.3. Qualifications for buyers of the Affordable Access Units and related re- sale requirements and restrictions shall be found in Exhibit "D" attached hereto and made a part hereof (the CRA Homebuyer Assistance Program Guidelines 2006/2007). 5.1.4. The re -sale limitations and requirements set forth herein shall be included in the deeds of sale, to be executed by Developer as seller (or its successors or assigns) and the purchaser at the time of closing on the initial sale of the Affordable Access Units; shall constitute a covenant running with the unit; and shall be recorded in the Public Records of Palm Beach County, Florida. CRA shall approve the form of the deed prior to execution. 5.2. Performance Audit. Prior to receiving the annual allotment of Pledged Project Increments Revenue, Developer shall provide written audited verification, at its sole cost and expense, of substantial completion and of compliance with the requirement to sell 50 Affordable Access Units. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 4 5.2.1. This performance audit shall be conducted by an independent Certified Public Accountant (CPA), selected and paid for by Developer with the approval of the CRA. 5.2.2. With respect to the Affordable Access Unit component of the Program, the CPA must examine the qualifying income data for every purchaser identified as a qualifying purchaser pursuant to the Affordable Access Unit requirements and must certify, in writing, the eligibility of all such qualifying Purchasers under the Program. The written opinion must include verification of the number of residential units which are owned by qualified purchasers. Developer must provide all necessary documents to conduct the audit including, but not limited to, the executed deeds and closing statements. 5.2.3. The examinations and opinions required under this Section must be conducted in accordance with generally accepted accounting standards established by the American Institute of Certified Public Accountants. 5.2.4. The audit required pursuant to this Section may be performed in conjunction with other auditing services. 5.2.5. Disbursement of the Pledged Project Increment Revenues shall only occur upon the CRA's acceptance of a properly documented and supported audit. Disbursement of Pledged Project Increments Revenue shall be conducted pursuant to the Direct Incentive Program for Workforce Housing Guidelines. An example of such funding disbursement is attached as Exhibit E. 5.2.6. It is acknowledged, understood and agreed that Developer may not be able to sell each Affordable Access Unit. In the event that not all Affordable Access Units are sold, then the funds Developer would otherwise be entitled to shall be reduced by an amount corresponding to the percentage as set forth in Section 6.1.A herein. See also Exhibit E as an example. 5.2.7. Exceeding the agreed upon requirements of the 50 Affordable Access Units shall not entitle Developer to additional funding under this Agreement or to a credit or set- off against any reduction in funds due to failure to meet the other Affordable Access Requirements in earlier years hereunder. Section 6. Direct Incentive Funding. The direct incentive funding provided for under this Agreement is granted to Developer for the purpose of offsetting, in part, Developer's cost of creating fifty (50) affordable residential units. 6.1. Direct Incentive Funding Formula and Term. The CRA hereby agrees to direct fund, that is, to pledge and assign to Developer for a period of ten (10) consecutive years, as provided herein and below, an annual amount which equals the Pledged Project Increment Revenues as set forth in subsection 6.1.C. herein less any amounts deducted pursuant to the terms of Section 5 above due to the failure of Developer to comply with the Affordable Access Requirements of this Agreement. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 5 A. The Pledged Project Increments Revenue shall be awarded pro rata based on the proportion of Affordable Access Units sold to eligible buyers. For example, if ten (10) percent of affordable access units are sold in the first year the Project Increment Revenues are available, Developer is entitled to 10% of the eligible Pledged Project Increments Revenue that year. If, the following year 100% of affordable access units are sold, Developer is entitled to 100% of the Pledged Project Increments Revenues that year and in continuing years until the ten -year period has terminated. See Exhibit E attached hereto and made a part hereof for the estimated Pledged Project Increments Revenue Calculation for this Project. B. Developer shall have the option to postpone the first Pledged Project Increments Revenue disbursement to the following year at Developer's option with written notification provided to the CRA in advance of the disbursement. C. For the first through fifth disbursements of the Pledged Project Increments Revenue, the Developer shall be entitled to 75% of the Project Increment Revenues. For the sixth through tenth disbursements, the Developer shall be entitled to 25% of the Project Increment Revenues. 6.2. Commencement and Conditions of Funding. The ten (10) year term for each Phase for the receipt of Pledged Project Increments Revenue shall commence in the year that the following conditions are met: A. The Project is Substantially Complete; B. The completed improvements of each Phase have been placed on the Tax Roll; C. The CRA has determined that Project complies with the commitments and with all of the terms and provisions of this Agreement: D. All requirements as set forth within this Agreement have been complied with by Developer; and E. The CRA has received Project Increment Revenues from such improvements. 6.3. Disbursement of Funds. Except as otherwise provided herein, the Pledged Project Increment Revenues shall be disbursed to Developer by April 1 of the year following the corresponding ad valorem tax year O:ICORD003 - Boynton Beach CRA - Comerstone DIFA — 10-27-06 6.4. No Pledge of Pledged Proiect Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by term of this Agreement. 6.5. Subordination. Any Pledged Project Increment Revenue of the CRA pursuant to this Agreement is subordinate to the pledge of the tax increment revenue given to secure the CRA's Tax Increment Revenue Bonds pursuant to Resolution No. 04 -04, adopted December 6, 2004, as amended and supplemented. Section 7. Events of Default. Remedies and Termination. 7.1. Default. Upon the occurrence of any one or more of the following events, all obligations of the CRA to disburse further funds under this Agreement shall terminate at the option of the CRA. Notwithstanding the preceding sentence, CRA may at its option continue to make payments or portions of payments after the occurrence of one or more of such events without waiving the right to exercise such remedies and without incurring liability for further payment. The CRA may at its option terminate this Agreement and any and all funding under this Agreement upon occurrence of any one or more of the following: 7.1.1. Any representation by Developer in or in connection with this Agreement is inaccurate or incomplete or false in any material respect. 7.1.2. The failure of Developer or its Affiliate to observe or perform any of the terms, covenants, conditions, obligations, or provisions of this Agreement in any material respect to be observed or performed by Developer or such failure continues for a period of thirty (30) days after written notice thereof from the CRA to Developer provided, however, that if the nature of Developer's default is such that more than thirty (30) days are reasonably required for its cure, then Developer shall not be deemed to be in default if Developer commenced such cure within said 30 -day period and thereafter diligently pursues such cure to completion. 7.2. Remedies. Upon the occurrence of any one or more of the foregoing events, CRA may, at its option, give notice in writing to Developer to cure its failure of performance if such failure may be cured. Upon the failure of Developer to cure, CRA may exercise any one or more of the following remedies: 7.2.1. Terminate this Agreement upon not less than fifteen (15) days notice, by certified letter to Developer at the address specified in Section 8.5 of this Agreement, such notice to take effect when delivered to Developer. 7.2.2. Commence a legal action for the judicial enforcement of this Agreement and for any and all damages occasioned by Developer breach of this Agreement including, but not limited to, repayment of funds disbursed to Developer as a result of fraud or material misrepresentation. 7.2.3. Withhold the disbursement of any payment or any portion of a payment. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 7 7.2.4. Take any other remedial actions that may otherwise be available under law. 7.3. Attorney's Fees and Costs. In any judicial action arising from this Agreement the prevailing party shall be entitled to an award of its reasonable attorney's fees and costs, at both the trial and appellate levels, from the non - prevailing party. However, the CRA shall not be required to exceed its limits of liability as set forth in section 768.28, Florida Statutes. 7.4. Law and Remedy. This Agreement shall be governed by the laws of the State of Florida. Venue of any and all legal actions arising from this Agreement shall be in Palm Beach County, Florida. No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise. No single or partial exercise by any party of any right, power, or remedy hereunder, shall preclude any other or further exercise thereof. 7.5. Strict Performance. No failure by either party to insist upon strict performance ot` any covenant, agreement, term or condition of this Agreement or to exercise any right or remedy available to such party by reason of the other party's Default and no payment or acceptance of full or partial payments of amounts due under this Agreement during the continuance (or with CRA's knowledge of the occurrence) of any Default or Event of Default, shall constitute a waiver of any such Default or Event of Default or of such covenant, agreement, term, or condition or of any other covenant, agreement, term, or condition. No waiver of any Default shall affect or alter this Agreement, but each and every covenant, agreement, term and condition of this Agreement shall continue in full force and effect with respect to any other then existing or subsequent Default. Payment by either party of any amounts due under this Agreement shall be without prejudice to and shall not constitute a waiver of any rights against the other party provided for under this Agreement or at law or in equity. One party's compliance with any request or demand made by the other party shall not be deemed a waiver of such other party's right to contest the validity of such request or demand. All the terms, provisions, and conditions of this Agreement and the restrictive covenants shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. The Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both parties have contributed substantially and materially to the preparation of the Agreement and the restrictive covenants. 7.6. Remedies Under Bankruptcy and Insolvency Codes. If an order for relief is entered or if any stay of proceeding or other act becomes effective against Developer or in any proceeding which is commenced by or against Developer under the present or any future federal bankruptcy code or in a proceeding which is commenced by or against Developer, seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relies under any other present or future applicable federal, state or other bankruptcy or insolvency statute or law, CRA shall be entitled to invoke any and all rights and remedies available to it under such bankruptcy or insolvency code, statute or law or this Agreement, O: \CORD003 - Boynton Beach CRA - Comerstone DIFA — 10 -27-06 8 7.7. Termination. The obligations of Developer and CRA shall terminate upon the expiration of the Project Increment Revenues payments to Developer as provided in Section 6 above as a result of the expiration of the agreed upon payment periods. Section 8. General Conditions. 8.1. CRA's Maintenance of Records and Annual Account Funding. Commencing with the Effective Date, the CRA shall maintain and administer separate financial records which reflect terms of this Agreement. Such records shall clearly document for the benefit of the CRA and Developer, the Base Year amount and the annual revenue collected by the CRA attributable to the Project and the annual amounts owing and paid under this Agreement. 8.2. Successors and Assisns. The CRA and Developer each binds itself and its successors, executors, administrators and assigns to the other party and to the successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Prior to Substantial Completion of the Project, without the prior written consent of the CRA, Developer may transfer this Agreement to an Affiliate who reaffirms that Developer shall continue to be responsible for all the obligations of Developer under this Agreement in order to receive the full Pledged Project Increments Revenue as provided for in Section 6 hereof; provided, however, that prior to Substantial Completion of the Project, this Agreement may not be assigned by Developer to any third party without the prior written consent of the CRA and without the assignee's specific written assumption of all of the obligations of Developer under this Agreement. After Substantial Completion this Agreement may be assigned by Developer; provided, however, that any assignee thereto shall specifically assume all of the obligations of Developer under this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and Developer. In the event that the CRA determines that Developer is in violation of this paragraph, the CRA shall have the right to terminate this Agreement and to seek repayment of the funds paid by the CRA to Developer. 8.3. No Brokers. CRA and Developer each represents to the other that it has not dealt with any broker, finder, or like entity in connection with this Agreement or the transactions contemplated hereby, and each party shall indemnify the other against any claim for brokerage commissions, fees, or other compensation by any person alleging to have acted for or dealt with the indemnifying party in connection with this Agreement or the transactions contemplated hereby. 8.4. Indemnification and Hold Harmless. Developer agrees to protect, defend, reimburse, indemnify and hold the CRA, its agents, employees and elected officers and each of them, free and harmless at all times from and against any and all claims, liability, expenses, losses, costs, fines and damages, including attorney's fees, and causes of every kind and character (sometimes collectively "Liability ") against and from the CRA which arise out of this Agreement, except to the extent that any of the Liability results from the negligence or willful misconduct of the CRA. Developer recognizes the broad nature of this indemnification and hold harmless clause, and voluntarily makes this covenant and expressly acknowledges the receipt of good and valuable consideration provided by the CRA in support of this clause in accordance with the laws of the State of Florida. CRA's indemnification obligations shall not exceed the • O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA — I0 -27-06 9 statutory limits provided within Section 768.28 Florida Statutes, and CRA does not waive its sovereign immunity rights. This paragraph shall survive the termination of the Agreement. 8.5. Notices and other Communications. Whenever it is provided herein that notice, demand, request, consent, approval or other communication shall or may be given to, or served upon, either of the parties by the other (or any recognized mortgagee), or whenever either of the parties desires to give or serve upon the other any notice, demand, request, consent, approval or other communication with respect hereto or to the Project, each such notice, demand, request, consent, approval or other communication (referred to in this Section 9.4 as a "Notice ") shall be in writing (whether or not so indicated elsewhere in this Agreement) and shall be effective for any purpose only if given or served by (i) certified or registered United States Mail, postage prepaid, return receipt requested, (ii) personal delivery with a signed receipt or (iii) a recognized national courier service, addressed as follows: If to Boynton Village: Boynton Village, LLC c/o Cornerstone Group Development, LLC Attention: Leon Wolfe 2121 Ponce de Leon Boulevard, PH Coral Gables, Florida 33134 With Copies to: Michael Weiner, Esq. Weiner & Aronson, P.A. 102 North Swinton Avenue Delray Beach, Florida 33444 If to CRA: Boynton Beach Community Redevelopment Agency Lisa Bright, Executive Director 915 South Federal Highway Boynton Beach, Florida 33435 With Copies to: Kenneth G. Spillias, Esq. Lewis, Longman & Walker, P.A. 1700 Palm Beach Lakes Boulevard, Suite 1000 West Palm Beach, Florida 33401 8.5.1. Any Notice may be given in a manner provided in this Agreement on either party's behalf by its attorneys designated by such party by Notice hereunder, 8.5.2. Every Notice shall be effective on the date actually received, as indicated on the receipt therefore, or on the date delivery thereof is refused by the intended recipient 8.6. Time is of the essence. The parties acknowledge that time is of the essence in the performance of the provisions in this Agreement. 8.7. Entire Agreement. The CRA and Developer agree that this Agreement sets forth the entire agreement between the parties and that there are no promises or understandings other O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 10 than those stated herein. None of the provisions, terms and conditions contained in this Agreement may be added to, modified, superseded, or otherwise altered, except by written instrument executed by the parties hereto. 8.8. Exhibits. Each Exhibit referred to in this Agreement forms an essential part of this Agreement. Any exhibits not physically attached shall be treated as part of this Agreement and are incorporated herein by reference. 8.9. Severabilitv. If any provision of this Agreement or application thereof to any person or situation shall, to any extent, be held invalid or unenforceable, the remainder of this Agreement, and the application of such provisions to persons or situations other than those as to which it shall have been held invalid or unenforceable shall not be affected thereby, and shall continue in full force and effect, and be enforced to the fullest extent permitted by law. 8.10. Priority of Interpretation. In the event of any conflict between the terms and conditions of this Agreement and the Direct Incentive Program, the terms and conditions of this Agreement shall prevail. 8.11. Headings. Headings herein are for convenience of reference only and shall not be considered in any interpretation of this Agreement. 8.12. Insurance. All parties hereto understand and agree that the CRA does not intend to purchase property insurance in connection with this Project. 8.13. Binding Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and Developer (or in any representative capacity) as applicable, has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 8.14. Recording. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. SIGNATURES ON FOLLOWING PAGE O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 11 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES BOYNTON VILLAGE, LLC i r ., �/� Gam, By: ` y Print 'If e: air ' ' Pri nat#: LEON J. WOVE Ti e: _ y Date: /�l7 4 Print name: e ssa `e ez BOYNTON B AC COMMUNITY REDEVEL ME NT H AG CY 4441 By: /if"— "— Print • , -, Print name: ifiNcwitSmt a-rriaA "' ,V"r Title: Chairperso / Pi n i , -, Date: ) }// ?go& "4 - ! �Ar iL O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 14 STATE OF FLORIDA • pp SS: COUNTY OF4je BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, pegs: 1 appeared LEON J. WOI FF as P' - of `! L'96 41 (.4 ( 14C.. and acknowledged under oath that he/she has executed the foregoing Agreement as the proper official of EfM aL /41(.40eLe for the use and purposes mentioned herein and that the instrument is the act and deed of . /she is personally known to me or has produced as identification. — IN WITNESS OF THE FO, • ING, have set A y hand and official eal at in the State and County aforesaid on this � � • y of . i , 2006. o ► --.. + Leyani ' oman f ' t, Commission N DD312446 * ire` or 2 No7 P ic, State of Florida at Large '�� Atlantic Bondi IM. My Co ission Expires: STATE OF FLORIDA • SS: COUNTY OF PALM BEACH : BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, personally appeared /1 .da•bo rl(*wa as GL. rr-o. - of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, for the use and purposes mentioned herein and that the instrument is the act and deed of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. He /she is Eersonally known to me or has produced as identification. IN WITNESS OF THE FORF I have set my hand and official seal at in the State and County aforesaid on this / 8 day of 4A4.3* a :' , 2006. SUSAN E. HARRIS Zet f‘L-n r �► ;„ Noterlr Public, State of Florida f My Comm. E DO 248894 Notary Public, State of Florida at Large Expires: apathy 23, 2007 My Commission Expires: 9 /.3 io.00 O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 13 Exhibit "A" Property Description That portion of Lots 20 through 26, inclusive, lying East of the West line of Section 15, Township 45 South, Range 43 East, Boynton Beach, Florida as shown on the Plat of SAM BROWN JR.'S HYPOLUXO SUBDIVISION, as recorded in Plat Book 1, Page 81, in and for the Public Records of Palm Beach County, Florida, less however the South 332 feet, of the West 165 feet, (as measured along the West and South lines) thereof. Together with the beneficial interest in that certain Ingress and Egress Easement contained in Warranty Deed recorded in Official Records Book 3580, page 1323. Together with the beneficial interest in that certain Utilities Easement contained in Warranty Deed recorded in Official Records Book 3580, Page 1323, as modified by Relocation and Grant of Easement recorded in Official Records Book 6686, page 191. O: \CORD003 - Boynton Beach CRA - Comerstone DIFA — 10 -27-06 14 Exhibit "B" Site Plan 1 4t 1 1 I A t 6 t '' 1 1 t x e, j QS. j li 4 P r ii ' t i I . ill t I i lli if i P fig! 1:::- - 'J i.r WWI WOW 41111.110. w,Nlwh e.. 14 440144 ,■... 416,1•4 IN w.n ter, *111....,R ski arm s worm.. a .v... am oar ......, r.,.... —.,.- .«.............., ♦,....., w`.r w. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 15 Exhibit "C" Price List Ell ' ± i ewe k7 a04N ",ei$ a[,.r-.: PRICE LIST Banyan From $289.940 2 Bed 2 Bath 1 car garage 1,071 sq. lt.. ale area Cypress From $349,998 2 Bed, plus Dell i Bedroom, 2 Bath 1 car garage 1.561 sq. ft. Rlrc area Hibiscus From 5279,990 3 Bed 3 Barth 1 car garage 157 sq. ft. ale arcs Palm From $289,990 3 Bed 3 Bath 1 car garage 1,601 sq. ft- ale area Prices subject to change without prior notification 7/2M16 lib IWdS. MAMMA AIM illecnIC*111006 ARE staulacf 1OIdI IQTICIT ML. flRUCfl**I. AND OTHER LE tiinms A[ T H E Y Aleaa11111riADVilmaue VIII bailsQEf. WOW Olt AINtlier: all *1Mm..Y SS MY LAW .DRM. ansimumusaincoma►rswami; amnia' le StariellIPIINIMINtAllaraar onmaapait. Pap, cannon . 1 n r ! ID t i * L AIL Alr W swum ! G PI a urm SWINE6 T WPM 16 O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 Exhibit "D" CRA Homebuyer Assistance Program Guidelines i austadePwWisst Sthrt4esaldfrilantiesence Sannaus Dame c fleandatym.Assimseee Program' O aostt'l ? Z bes Rey *tan Basch Comesuathy Redd Aracy (MA) recognises dun gee theme economic beeith Ogee City depesds upon the adnatentsupply *thawing wind for waiting hedges As butashig Flom +dlmbed by doable digits in 200 seamy hinnies were vetoed eel °f ibo housing market 7Lc city of Doyetas f.acsk ,isnetre. OW* Hwaiw8 Imitate r ormandbip ?mama (SHIP) datltrta to ye ride down payment a talahmee to law and madame income Due to rapid bowing apprealtion, the irmnber otlow and modern, imam t abili s who can Wad d to bay homes has deans meJ. lo an eft tO assist more fainelies the CRA has Implemented the Homdmycr Aradataee a Pauf men, Piogrmn beds cee be layered with the tom" s SHIP Dawto P urea Assistance Program to provide say Rns ming 10 6111iliell. It SHIP fonds ere tettaeatallthie, RAP funds ears be used as the sole mama of dvwu woman nesietasee am long as maid all 01` azitcria as set by the City of Boynton Beach. Ammon Guidelines 1. Funding is can a fret- erme, fir firatpayproved brris.. Aypiteeete OOketlatet Oa11 aflho qualification critrmia of the SR1P Down Poymest Aeaist neae Program. IM? qaagficagas veil be cowed by the Cm's Community bngeovement Department or • Coaanmaaity Housing Development Onmaiistinn (CiM. A request for HAP ilmude most be mark en the applice tt" a behalf by tidier the City car CH M. 3. Pip Moo New—Not to emcees 1 60,,+ waft — Not to exceed $214462 New Rome Caws. Meares- the value of t CityftRA. lot awaniod to bomatebeiyer is excleded Thom the CRACkyauhsidy mount, bus is included ni the permanent m attgage eneuedwance 4. Eligible Properthee include eaaa ieling, wingiewfamily homes, won of new siegla- ibeniiy home, towehanow and eoadamiiatwsta loomed within the CRA, O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 17 2 5. tile of Flame: s. .Doran and Closing .anus. b. Rci>telrR4 kin meta i[regebwl to bring the ]canna up to code) 6_ F.r anise with depdn3ent, edam children will receive pre hrwtreo.. 7. Paersoma seadding width' diet City of Bay,aton Beach will receive preference. 6. Appiisasta 00ep40ya1 is 1110 Noweadial s.rviaea^ esaeoes (om. sra* oe„ Ba. bAaea.. bealkhoe ne waoeioare aid aitilled building trader,) will reaaadve 9. Income hemp an adage en.mbart of the bow atrold will be ieneladed in Mho compueetion a1° gross Mcaormim. 40. cilia sad GILk tlmadetag obeli not eesras*d 40% for amodaia to .tmaotrrre buyers nod 50% $ar low ietaeaegues buyer* of *bopurabwss pries- The actual esneuwt o lending a+warde4 idea depend upon the i'leeoding gap. le ea ease shell MCA ilentliag be aewreaded abtww the llaedielg dap eMtaturat or I15O,dO0.00. l�cags esopeaeeea related to bringing dastinonse up to made aar[y be isnaluded up to 15O,000. dente pie igkk : Modannte inceene Household S 60.0000 Puercbase Prime of Roane: S2100,000 Cloning Coats 3 3.000 ).ilitinniae Mortgage Amound 5213,771 C.i y's Mainaamn 151111* Down payment 1 50,000 Pending Gap S 2I,225 Pelee nt of Public Subsidy 25% Bz mp1e at2 Low Il aresane f4onednnld $ 40 ,200 P Praha of Route $2e0,010 Closing Coses S 5,000 Mandtimmin Mortgage Amount 3464,700 Cites Mintinansus SHIP Down payment 5 75,000 Funding Dap 1 45,300 Pement af'Public Subsidy 43% 11 - Projected bowleg mac, iaoaludigg anortgage, interest, tames, dmetarnsio , aasd iaotaeeeowne r'* assoairfiear flee shell not mtosed 35% oig one law a bolid earauao OW esibaber,rrr to p tho y Ieeadew delOWI Witas. 1710 maroisoanr swat debt redo poes3 homing espansee plus oeder eneethly debt obligations) .halt not sineend 45% of income me O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 18 3 i;seren®mte 41 btaderate Income Sd0000 Oence )r&aalhly ba rise it 54000 litottlpmlpstaytraat (but. mow a. iaswseers) S b,202 Other Debt S 500 Hwrsia. Bodies* Aatlo Met fa essosed 33,0 271i Damon Debt Ratio 33i firstanple Low i+www * *kale them idesse ly inoatsme S 3, *50 .tr. Tstyrema► tined- mere # lnetosfae s) ti 907 Other Debt S 300 iiaweiee 8mssiis Ratio 29% Debt Ratio 3SSi 12.. Applicants artist be Nutt doe basstseboyerh. wills no po eicsee Ineneoweorehip within Om pest dime years at the ciao atapplinetion. Pine time Isom buyer steam shall be doloiAined by revisable the three camee.ilme ]mom uflbrdeted IitO_- teat rittaa m. O, iel.ede shed be in the t XON+of t Or% **cord babied Min them tetottga. 1C amp timed* see nerd G'iLlt Ikeda will be ism *web= a Mid iseatipam behind tire City of bsi bea is tsresel d r sepelstbrmtarea. �s*estes >t� ism tsrquirod if r ite beam is ntsalte ern i000111110 lidsd tint be,rersilied by the - City se(bomenta Rea sib Ca risgegreamtme Divide's road *sr waded to Chi Cites perm ats eiaeite. Renck be a salmistmert q melUfad boyar will require mpa3vbentt °tete CAA eabeidkr aamonmt to tlmil et time ofelaber. 13- Redomoieg crake properly rlkyr wilt reee tt in. rtpra emest taf+CRA treede with it Baron ee:anteei at 4% pe rauoeeen. Rullneurelne of the pwtaeety terry be p* ii, tie d in special sibeeueneraiaow admit prier written approval bone dm City and GS3A- 14. P* mute. who reactive Cant kboaarbeywes Assistance ance rlbsell occupy lb* a.aid'ieace ter Mc aria orate Bret onettlat e. Inbae readde.aa ie ieaed 'sad see leopur occupied by late' eedpiaet fvadr. alt CRA.,iasds plum lufer.as at 4% annum donee the date of panAass WWI baeaoasa doe tad payebie to JIM Ptmoi1ise that oaaeiw asecien YCe mall isbmit pfoaf of teebseetr to She City mid CRA mmar.elly by abase siva eery or ten alloying date. "Chi accepted lteaaee or pool is a wllby ba Itceerlsp l aropraat neciPierto 'WOW mad address. Pelham to comply will am* rem the C NA Ikeda bectsmies due end mettle 15. Upon saner the ptraperty wrltati0 she thist live ywrrw, yha owner .oust ptpr 9094 of the a lusty (stelerm aad by* Sair ttt.abt.t appreis..1) to Hier City ain't C A N A �paopoeti pies r w to ee oY $*ad10s Sam ..uh � entity. M 6. 50 grilse equity ty oaring y e a s 21.30; 13'% of t h e equity M �dee to t h e c i t y r o d c * A upon sale cq ibo property. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10-27 -06 19 4 tkii dare ptioa:3,IOOG • City amp Reds $ 5000 (71%) CRA roads $ 204100 (2019 Media. 0155,000 }kw Saks Nos 0 yr 5 _ $211,000 $ woo 2oweguiry tQ l $1O4000 l ate to City I Payees atEsptry ti, CRA $ 11.400 16. The tom/ sad CRA alutll maw Oa rieteftiost•selatel to partiumalba propetty at the fair cesrket PPPMiliVi . 45 days Diadem natioe Rata tboytopesty Amr& 17. vfthcIMP= k no spersolers ofd. A,1! dociBions are subject to approval °Ma CRA Board ofMadam O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 Exhibit "E" Pledged Project Increments Revenue Formula Examples it of Affordable # of Affordable Access Access Units Sold % of Eligible TIF Units Sold % of Eligible TIF 1 2% 26 52% 2 4% 27 54% 3 6% 28 56% 4 8% 29 58% 5 10% 30 60% 6 12% 31 62% 7 14% 32 64% 8 16% 33 66% 9 18% 34 68% 10 20% 35 70% 11 22% 36 72% 12 0.24 37 74% 13 26% 38 76% 14 28% 39 78% 15 30% 40 80% 16 32% 41 82% 17 34% 42 84% 18 36% 43 86% 19 38% 44 88% 20 40% 45 90% 21 42% 46 92% 22 44% 47 94% 23 46% 48 96% 24 48% 49 98% 25 50% 50 100% O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 21 SECOND AMENDMENT TO DIRECT INCENTIVE FUNDING AGREEMENT DATED DECEMBER 19. 2006 Between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY And BOYNTON VILLAGE. LL( WHEREAS, on December 19, 2006 the BOYNTON BEACH COMMUNII Y REDEVELOPMENT AGENCY ( "BBCRA ") and BOYNTON VILLAGE, LLC entered into a Direct Incentive Funding Agreement (the "Agreement ") relative to the Project known as the "Preserve ": and WHEREAS, the Agreement provided that the Developer was to set aside fifty (50) units designed to be affordable access units; and WHEREAS, on January 8, 2008 the parties entered Into a First Amendment to Direct Incentive Funding Agreement which increased the eligibility threshold from 120% to 140% of Median Household Income as set by the United States Housing and Urban Development (HUD) for the year 2006: and WHEREAS, the present economy, has caused significantly reduced demand for the purchase of units in the Project: and WHEREAS, the Developer has requested that the eligibility requirements for potential buyers be modified to include rental opportunities: and WHEREAS, the CRA intends to continue to provide incentive funding to the Developer for homeownership opportunities and to provide incentive funding for rental opportunities on the basis set forth herein. NOW THEREFORE, in consideration of the mutual covenants set forth herein and other lawful consideration. the Agreement is amended as follows Section 2 is amended to insert the following paragraph after the paragraph entitled "Affordable Access Unit' and shall read as follovvs "Affordable Access Rental Units" means not Tess than 100 units committed by the Developer (or its assigns) as affordable rental housing which shall he rented individuals and families earning 60% of less of Median Household Income for Palm Beach County as set by the United States Housing and Urban Development ( "HUD " Section 5 1 I is amended to read as follows 5.1.1. Developer agrees to set aside fifty, (50) units designated 3� Affordable Access Units and at least 100 units as Affordable Access Rental Units T \DEVELOPMENT\The Preserve - Cornerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3) do. Section 5.1.2 is amended to read as follows: 5.1.2. Developer agrees to reduce the price of the fifty (50) units designated as Affordable Access Units by Sixty Thousand and No /100 Dollars ($60,000.00) for the Cypress Model, Fifty Thousand and No/1 00 Dollars ($50,000.00) for the Palm Model, and Forty Thousand Dollars ($40,000.00) for the Banyan and Hibiscus Models (see attached Price List marked as Exhibit "C" which is attached hereto and made a part hereof) to buyers whose income does not exceed 140% of Median Household Income ( "MHI ") for Palm Beach County as set by the United States Housing and Urban Development ( "HUD ") for the year 2006. Developer also agrees to rent not less than 100 units at the rental rates outline on Exhibit C -1 (as may be increased from time to time by HUD). Proof of income qualification for the Affordable Access Units and Affordable Access Rental Units shall be provided to the CRA prior to any disbursement of Pledged Project Increment Revenue. Examples of acceptable forms of proof include HUD closing statements executed by the buyer and seller; copies of two years of tax returns; and /or paycheck stubs for all adults in the buyer's family for the two weeks prior to closing including proof of family size. Section 5.2.2 is amended to read as follows: 5.2.2. With respect to the Affordable Access Unit component of the Program, the CPA must examine the qualifying income data for every purchaser identified as a qualifying purchaser pursuant to the Affordable Access Unit requirements and must certify, in writing, the eligibility of all such qualifying Purchasers under the Program. The written opinion must include verification of the number of residential units which are owned by qualified purchasers. Developer must provide all necessary documents to conduct the audit including, but not limited to, the executed deeds and closing statements. If requested, Developer shall also provide such information as may be requested regarding the Affordable Access Rental Units. Section 5.2.7 is amended to read as follows: 5.2.7. Exceeding the agreed upon requirements of the 50 Affordable Access Units or 100 Affordable Access Rental Units shall not entitle Developer to additional funding under this Agreement or to a credit or set -off against any reduction in funds due to failure to meet the other Affordable Access Requirements in earlier years hereunder. Section 6 is amended to read as follows: Section 6. Direct Incentive Funding. The direct incentive funding provided for under this Agreement is granted to Developer for the purpose of offsetting, in part, Developer's cost of creating one hundred fifty (150) affordable residential units. Section 6.1 is amended to read as follows: 6.1. Direct Incentive Funding Formula and Term. The CRA hereby agrees to direct fund, that is, to pledge and assign to Developer for a period of ten T• \DEVELOPMENT\The Preserve - Comerstone \Preserve DIFA \DIFA Second Amendment -2010 (3).doc 2 (10) consecutive years, as provided herein and below, an annual amount which equals the Pledged Project Increment Revenues as set forth in subsection 6.1 ( herein less any amounts deducted pursuant to the terms of Section 5 above due to the failure of Developer to comply with the Affordable Access Requirements of this Agreement. A The Pledged Project Increments Revenue shall be awarded pro rata based on the proportion of Affordable Access Units sold to eligible buyers and Affordable Access Rental Units rented to eligible tenants. For example, if ten (10) percent of Affordable Access Units are sold and /or rented in the first year which the Developer elects to receive the Project Increment Revenues, Developer (or its assigns) is entitled to 10% of the eligible Pledged Project Increments Revenue that year. If, the following year 100% of Affordable Access Units are sold and /or rented, Developer (or its assigns) is entitled to 1 00% of the Pledged Project Increments Revenues that year and in continuing years until the ten -year period has terminated. See Exhibit L attached hereto and made a part hereof for the estimated Pledged Project Increments Revenue Calculation for this Project. 13 Developer shall have the option to postpone the first Pledged Project Increments Revenue disbursement to the following year at Developer's option with written notification provided to the CRA in advance of the disbursement t' 1 or the first through fifth disbursements of the Pledged Project Increments Revenue. the Developer shall +sr entitled to 75% of the Project Increment Revenues 1 -ot nit- sixth through tenth disbursements, the Developer shall he entitled to 25% of the Project Increment Revenues Section 6.2 is amended to read as follows 6.2. Commencement and Conditions of Funding. 1'he ten (10) year term for each Phase for the receipt of Pledged Project Increments Revenue shall commence in the year that the following conditions are met A [he Project is Substantially Complete. 13 The completed improvements of each Phase ha‘c hut; placed on the tax Roll: C. The CRA has determined that Project complies v, ith the commitments and with all of the terms and provisions 01 1 - 1DEVFLOPMENT \The Preserve - Cornerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3) cto, , this Agreement; D. All requirements as set forth within this Agreement have been complied with by Developer; and E. The CRA has received Project Increment Revenues from such improvements. However, this Agreement and the initial ten (10) year term for each Phase for the Receipt of Pledged Project Increments Revenue shall be automatically extended for an period of time equal to each year that funds are not disbursed to Developer by the CRA for reasons other than the failure of Developer to comply with the Affordable Access Requirements of this Agreement. Section 8.5 is amended to read as follows: 8.5. Notices and other Communications. Whenever it is provided herein that notice, demand, request, consent, approval or other communication shall or may be given to, or served upon, either of the parties by the other (or any recognized mortgagee), or whenever either of the parties desires to give or serve upon the other any notice, demand, request, consent, approval or other communication with respect hereto or to the Project, each such notice, demand, request, consent, approval or other communication (referred to in this Section 9.4 as a "Notice ") shall be in writing (whether or not so indicated elsewhere in this Agreement) and shall be effective for any purpose only if given or served by (i) certified or registered United States Mail, postage prepaid, return receipt requested, (ii) personal delivery with a signed receipt or (iii) a recognized national courier service, addressed as follows: If to Boynton Village: Boynton Village, LLC c/o Cornerstone Group Development, LLC Attention: Leon Wolfe 2100 Hollywood Boulevard Hollywood, Florida 33020 With Copies to: Michael Weiner, Esq. Weiner & Lynne, P.A. 10 SE 1 Avenue Delray Beach, Florida 33444 If to CRA: Boynton Beach Community Redevelopment Agency Lisa Bright, Executive Director 915 South Federal Highway Boynton Beach, Florida 33435 T \DEVELOPMENT \The Preserve - Comerstone \Preserve D1FA \DIFA Second Amendment - 2010 (3).doc 4 With Copies to: James Cherof, Esq. Goren, Cherof Doody & bzrol 3099 E. Commercial Blvd Suite 200 Ft. Lauderdale, FL 33308 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the da} and year first above written. SIGNATURES ON FOLLOWING PAGE T \DEVELOPMENT \The Presen e - Comerstonc\Preserve DIFA \DIFA Second Amendment - 2010 (3) doe WI ESSES BOYNT N VILLAGE, LLC -- Print name: Y4S..e./ . - Print name: M {g-f 9 S m r1- c Title: V , Q s. Date: t C C �1 ' ib li: `tea Print name:. , `�,_,., ■ ,t , a BOYNTON BEACH COMMUNITY if REDEVELOPMENT AGENCY , _____ up A:I B • - Print name: lrt/ .,r ( Print n e: * • ' 4Ctr I t, vez- ltle: Chairpers:n . eV v . lam" ` Date: f 0-4/./p Print name: ,7.. /x,,,.1:0 ---- T:\DEVELOPMENT\The Preserve - Cornerstone \Preserve DIM \DIFA Second Amendment - 2010 (3) doc STATE Of FLORIDA SS COUNTY OF#ff BEFORE ME, an officer duly. authorized bA} to nisterr oa s d take acknowledgments, person Ally appeared 7 i` m , /i s 2 / /�of 40 t >1 ‘),,,70., _ -/C and acknowledged under oath that he /slime has executed the foreg ing Agreement as the proper official of for the use and purposes mentioned herein and that the instrument is the act and deed of He /she is personally known to me or has produced _ _ as identification IN WITNESS OF THE FOREG• R, 1 hav my hand and official seal at in the State and County aorqsaid on this -A; ay of� _, 200$. -' zotaa 8 EVAN ROMAN _ (s ' WAY COX.iMISSIOM # D0 78335 ui' EXPIRES April 28, 2 : .' otary `u, Large ic, State of Florida at Larg „.17''''.. � "rr _ f on.. ih■ & t I Y' My Commission Expires STATE OF FLORIDA SS COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take a nowledgments, personally appeared 3(.1.a Plui6 (IA � 1^lv�tk e' as Q1vt of BOYNTON BEACH CO4MUNTT4 REDEVELOPMENT AGENCY. and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. for the use and purposes mentioned herein and that the instrument is the act and , eed of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY.() /she is personally known to mc or has produced as identification IN WITNESS OF THE FOREG NG. I have m hand and official seal at in the State and County aforesaid on this') ay of , ,0t . (. Notary Public, State of Florida at Large ,A -t. -- VI/Z My Commission Expires. ,'�.r " ' TIIdEi11t ACK of florlds ? _; . My Comm. Expires Jon 11, 2014 Commission ion DD 951135 .0 ` Bonded TWO Woad Notary Aun. T \DEVELOPMENT\ The Preset e - C ornerstone \ Preserve DILA \DIFA Second Amendment - 2010 (3) doc EXHIBIT "C -1" Rental Rate List' 2- Bedroom units: $924.00 /month 3- Bedroom units: $1,059.00 /month 1 Rental Rates are subject to annual adjustment based upon HUD's annual release of incomes for Palm Beach County, T: \DEVELOPMENT\The Preserve - Cornerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3) doc 8 Exhibit "E" Pledged Project Increments Revenue Formula Examples # of Affordable 1 # of Affordable Access Access JRentall Units (Rental) Units Sold Sold and /or Rented % of Eligible TIF and /or Rented % of Eligible TIF 3 2% 78 52% 6 4% 8 54% y 6% 84 56 °/o 12 8% 8 i 58% 9 G 10% 90 60% ' F 12% 93 62% 21 14% 96 64°% 24 16% 9 66% 27 18% 1 02 68% 3r 20 °r° 0', ;0% 33 22% 108 '2% 36 0 24 7 4% V,- 26°i . - 4 6 %, 46' 28% 8 j C. 30°i ' 21 80 ° 4 48 32% :2` 82`8 s46 '22, 9496 1 366' 29 :36% 38°,' 32 6 8 `G' 60 406' 33 - 10"r , 03 42 0 /, `38 .:: 66 44 4 a4 ° 4 6 c, 46% q6% . 48`; .:8°i- r 00,,. ` J0' T \DEVELOPMENT \The Preserve - CornerstoneAPreserve D1FA \DIFA Second Amendment - 2010 (3) doe s BOYNTON cA !BEACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda I I Old Business I X New Business I Legal I I Executive Director's Report SUBJECT: Consideration of Request from Homebuyer Assistance Program (HAP) Grant Recipient Lauren Godden to accept the Terms of Short Sale Negotiations SUMMARY: On December 11, 2007, the CRA Board approved a Homebuyer Assistance Program (HAP) Grant in the amount of $50,000 to Lauren Godden for the purchase of her home located at 1819 NE 5 Street, #1503, in the Preserve and closed on her newly constructed home in March 2008 (see Attachment I). On November 1, 2012, CRA staff received an email from Ms. Godden requesting the opportunity to present the terms of her short sale proposal at the Agency's November 13, 2012 Board meeting (see Attachment II). Ms. Godden is currently in mortgage pre - foreclosure with her first mortgage lender. The conditions of the short sale offer being presented is as follows: Original Purchase Price: $239,990 Current Short Sale Offer: $ 80,000 First Mortgage: $181,000 CRA 2nd Mortgage: $ 50,000 ADDITIONAL BACKGROUND: In December 2006, the developers of The Preserve, Boynton Village, LLC, received approval from the CRA Board to enter into a Direct Incentive Funding Agreement (DIFA) for the creation of 50 affordable housing opportunities. Under the Second Amendment to the DIFA approved by the CRA Board on October 12, 2010, the Agreement was amended to allow at least 100 units be designated as Affordable Access Rental Units for households earning 60% of median income or less despite out spoken objections by HAP grant recipients and other Preserve residents at both the CRA and City Commission meetings (see Attachment III). As a result of the nationwide Chinese Drywall epidemic, many of the units at the Preserve were built with the drywall and were subject to mitigation measures. HAP grant recipients occupied the majority of these affected units. In addition to the CRA's financial obligations to the developer set forth under the terms of the DIFA, the Agency has provided $945,000 in CRA HAP grant funding to nineteen (19) income eligible recipients for the purchase of these affordable units in the Preserve. Eleven of these grant recipients are in various stages of the foreclosure process. FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Heart of Boynton Plan RECOMMENDATIONS /OPTIONS: Provide staff direction. Alf -� _ � Michael Simon, Development Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 20121HAP Godden reqst for short sale terms doc ATTACHMENT I /.k A. Settlement Statement U.S. Department of Housing 1 r and Urban Development OMB Approval No. 2502 -0265 (expires 11/30/2009) B. Type of Loan 1.0 FHA 2.0 RHS 3.E1Conv. Unins. 6. File Number 7. Loan Number 8. Mortgage Insurance Case Number 4.0 VA 5.0 Conv. Ins. 420-503G 02008007 C. Note: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked '(p.o.c,T were paid outside the closing, they are shown here for information purposes and are not induded in the totals. D. Name and Address of Borrower E. Name and Address of Seller F Name and Address of Lender LAUREN GODDEN BOYNTON VILLAGE, L.L.C. A FLORIDA LIMITED BANKATLANTIC 1819 NE 5TH STREET 41503 LIABILITY COMPANY 2100 W CYPRESS CREEK RD BOYNTON BEACH, FLORIDA 1819 NE 5TH STREET #1503 FT LAUDERDALE FL 33309 BOYNTON BEACH, FLORIDA G. Property Locabon H. Settlement Agent 1819 NE 5TH STREET #1503 TRANS-STATE TITLE INSURANCE CORP BOYNTON BEACH, FLORIDA Place of Settlement t Settlement Date ONE PARK PLACE 621 NW 53 ST #240 03/28/08 BOCA RATON, FLORIDA 33487 J. SUMMARY OF BORROWER'S TRANSACTION: K. SUMMARY OF SELLER'S TRANSACTION: 100. GROSS AMOUNT DUE FROM BORROWER 400. GROSS AMOUNT DUE TO SELLER 101. Contract sales price 239,990.00 401. Contract sales price 239,990.00 102. Personal property 402. Personal Property 103 Settlement charges to borrower (line 1400) 8,917.35 403 104. DEVELOPERS FEE 4,199.83 404. DEVELOPERS FEE 4,199 83 105. 405. Adjustments for items paid by seller In advance Adjustments for Items paid by seller in advance 106. City /town taxes to 406. City/town taxes to 107. County taxes to 407 County taxes to 108. Assessments to 408. Assessments to 109. TWO MONTHS WORKING CAPITAI. MASTER 500.26 409. 110 TWO MONTHS WORKING CAPITAL CONDO 4.92 410. 111. MASTER ASSOC 03/28 TO 04/31 346.97 411. 112. HOA MAINT 03/28 TO 04/31 3 41 412 120. GROSS AMOUNT DUE FROM BORROWER 253,962.74 420. GROSS AMOUNT DUE TO SELLER 244,189.83 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER 500. REDUCTIONS IN AMOUNT TO SELLER 201. Deposit or earnest money 7,200.00, 501 Excess Deposit (see instructions) 202. Principal amount of new loan(s) 191.900.00 502. Settlement charges to seller (line 1400) 2,512.78 203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoff of first mortgage loan 194,827.13 CITY NATIONAL 205. 505. Payoff of second mortgage loan 206 506. 207. BOYNTON BEACH CRA 50,000.00 507 208. NONRECURRIN CLOSING CREDIT 4,678.52 508. NONRECURRIN CLOSING CREDIT 4,678.52 209. 509. Adjustments for items unpaid by seller Adjustments for Items unpaid by seller 210. C lty/towm taxes to 510 City /town taxes to 211. Comity taxes 01/01 to 03/28 18422, 511. County taxes 01/01 to 03/28 184.22 212. Assessments to 512. Assessments m 213. 513. 214. 514 215. 515. MASTER MAINT 11/14107 TO 03/28/08 1,045.50 218. 516. CONDO MAINT 11/15/07 TO 03/28/08 10.19 217. 517. 218. 518. 219. 519. 2007 RE TAXES 775.00 220. TOTAL PAID BY FOR BORROWER 253,962.74 520. TOTAL REDUCTION AMOUNT DUE SELLER 204.033 34 300. CASH AT SETTLEMENT FROM OR TO BORROWER 600. CASH AT SETTLEMENT TO OR FROM SELLER 301. Gross amount due from borrower (line 120) 253,962.74 601, Gross amount due to seller (One 420) 244,189.83 302. Less amounts paid by/for borrower (line 220) 253,962.74 802. Less reduction amount due to seller (line 520) 204,033.341 303. CASH FROM BORROWER 603. CASH TO SELLER 40,156 491 IN THE EVENT THE TAXES DIFFER WHEN THE TAX BILL FOR THE CURRENT YEAR IS RECEIVED. THE PARTIES AGREE TO RE-PRORATE SAME BETWEEN THFJASELVES. HIS IS IMPORTANT TAX INFORMATION AND IS BEING FURNISHED TO THE INTERNAL REVENUE SERVICE (Vt81. YOU ARE REQUIRED TO FILE A RETURN, A NEGLIGENCE PENALTY OR OTHER SANCTION MAY BE IMPOSED ON YOU IF THIS INCOME IS TAXABLE AND THE IRS DETERMINES THAT IT HAS NOT UNREPORTED. 2008 at 9:10 AM fore HUD -1 (3/88) ref Handbook 43052 , a UtrAt< I MtN i Uh YIVUJINIa AIVU UKCAri , it v tLUF''ML1 , . • oMi' - tML8 L SETTLEMENT CHARGES , - de Number_420 -503G PAID FROM PAID FROM 700 TOTAL SALES/BROKER'S COMMISSION based on rice $ ;ti BORROWER'S SELLER'S P_ FUNDS AT FUNDS AT Division of commission 6ne 700 as follows SETTLEMENT SETTLEMENT - - 701 $ - -- - 702 $ 703 Commission paid at Settlement 704 ---- - -- -- ---- 800 ITEMS PAYABLE IN CONNECTION WITH LOAN P 0 C _ 801 Loan Ong nation Fee % BANKATLANTIC , 919 . 00 802 Loan Discount % 803 Appraisal Fee to MARK FINEY APPRAISAL 325 008 0 0C 804 Credit Report to ACRANET 55 008 .00 805 Lender's Inspection Fee tc 806 Mtg Ins A_p I1cation Fee tc 807 Assumption Fee `c 808. DOC PREP BANKATLANTIC 200 00 809 COURIER BANKATLANTIC - 55 00 810 FLOOD CERT LSI FLOOD INSURANCE 1 POC 811 FUNDING FEE BANKATLANTIC 12500 812 TAX SERVICE FEE LSI TASX SERVICE , 00 00 813 UNDERWRITING FEE BANKATLANTIC 75 or 814 815 900 ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE k 901 Interest from 03/28/08 to 04/01/08 (1D,$ 31 . 55 /day 4 day(s) 126 20 902 Mortgage Insurance Premium to 903 Hazard Insurance Premium yrs to 904 - — - - -- - - 905 - - ' 1000 RESERVES DEPOSITED WITH LENDER FOR 1001 Hazard insurance mo Q$ , 'no 1002 Mortgage Insurance mo @$ mo 1003 City property taxes mo as _ _ mo - 1004 County property taxes 8 mo p$ 399 98 i mo 3 199 84 1005 Annual Assessments mo a5 l mo 1006 mo Q$ i mo 1007 mo AS / mo 1 1008 Aggregate Credit for Hazard/Flood Ins, C�It /County Prop Taxes, Mo tO9O Ins & Annual Assessments 399 94 1 1100 TITLE CHARGES 1101 Settlement or dosing fee to TRANS -STATE TITLE INSURANCE CORP 350 00 ,41102 Abstract or title search to DATATRACE/TST 250 00 1103 Title examination to 1 1104 Title insurance binder t0 1105 Document preparati to _ _ 1106 Notary fees to 1 1107 Attorney's fees to ! (includes above item No ,_ _ 1108 Title insurance to TRANS -STATE TITLE INSURANCE CORP 250 00 786 08 ' (includes above item No _ 1109 Lender's coverage 191,900 00 - 250 00 1110 Owner's coverage 239,990 00 - 786 08 ind 1275 00 Risk Preen 1111 FF9 FIRST AMERICAN 152 50 _ _ 1112 8 1.4 ENDORSEMENTS FIRST AMERICAN 70 00 1113 - -- - - - - - -- -- - - - 1200 GOVERNMENT RECORDING AND TRANSFER CHARGES 1201 Recording fees Deed $ 19 10 _, Mortgage $ 301 70 , Releases $ 27 60 301 70 46 70 1202, City /county/stamps Deed $ . Mortgage $ — 1203 State tax/stam•s Deed $ 1,680 00 Mortgage $ 846 65 846 65 ",580 00 1204 Intan •, ble Tax Deed $ Mortgage $ 483 80 483 80_ 1205 NON -ID AFFIDAVIT 27 60 1300 ADDITIONAL SETTLEMENT CHARGES 1301 Survey to _ 1 1302 Pest inspection to — -- 1 1303 COURIER/HANDLING /EXPRESS TRANS -STATE TITLE INSURANCE CORP 100 00_ 1304 TELETAX/HARDCOPIES DATATRACE/TST 35 00 , 1305 WIRE TRANSFER FEE SUNTRUST 35.00 1 1306 SDN PATRIOT ACT NAME SEARCH DATATRACE/TST _ - _. -- 30 4_ 1307 LOAN CLOSING FEE TRANS-STATE TITLE INSURANCE CORP 4 25 00 1308 EM/LD /FX RECOVERY FEE TRANS-STATE TITLE INSURANCE CORP 50 00 _ _- -___ � 1400 TOTAL SETTLEMENT CHARGES (enter on lines 103 and 502, Sections J and K) / 8,917/35 L 2 512 78' I havremoved arefuiiremoved the HUD•I Settlement Statement and to CM best d i4 my knowledge and belief, It is . andytt OM dt uraie statement of all receipts a sb es.nents aow awn* account or by se in the transact. I , edify that I fnaye die HUD.1 Settlement Statement LAURETrO000e —"' - -- BOY40ON ottAGE L L C A FLORIDA UlarrEbrIAelLITY ZOMPryvv The 500-1 Settlement Statement vmlcn I nave prepared is a true and accurate accost of this Iransachor I rive caJSld or will cause the I unhis io be dlshursec io:ordance me/ NEE st,,, ,t TRANS -STATE TITLE INSURANCE CORP S3/2R140 .— --- -- -^- WARNING It is a clime to kno*lingiy make false statements to me United Slates an ih:s or any o0Ael server tor, Perm hies upon oonvlhoe can InCUde a tine M ' JO,on'neli 601 deta,k_ wr [115 1 91. 5 coi,c Secvon 1001 and Section 1010 03 -28 -2008 at 9 10 AM — —�� form HUD -1 (3/86) ref Handbook 4305 2 teturn To: Lisa A. Bright Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33405 561- 737 -3256 Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement In order to further its goal of creating affordable housing opportunities, the Boynton Beach Community Redevelopment Agency (Grantor) hereby grants financial assistance in the amount of $50,000.00 pursuant to its Homebuyer Assistance Program (Program) to Lauren Godden (Grantee /s) to purchase real property described as: Condominium Unit No. 1503, of THE PRESERVE AT BOYNTON BEACH 15, a Condominium, according to the Declaration of Condominium thereof, as recorded in Official Records Book 22258, Page 1033, of the Public Records of PALM BEACH County, Florida; together with an undivided share in the common elements appurtenant thereto. In exchange for the funding the Grantees understand and agree to the following terms and conditions. It is further understood by recipient that a lien shall be placed on the real property described above. 1. Grantee /s state that all information submitted to the Grantor in order for the Grantor to determine eligibility for the program is true and correct. 2. Grantee/s hereby state that the purchase price of the Property does not exceed $280,000. 3. Grantee/s hereby state that the amount of Program funding is not more than 50% of the cost of the Property. 4. Grantee's hereby state that they have not owned a residence within the last three years prior to the purchase of the Property. 5. Grantee /s state that they understand that the grant amount will be secured by a second or third mortgage on the Property. a. The mortgage interest rate shall be 0% unless any of the following occur: i. The property is no longer occupied by the Grantee as their full time residence; ii. The grantee secures a line of credit, equity loan, etc. secured by the Property without the written consent of Grantor. iii. The property is leased. Page 2 of ': h In the event that the Grantee /s sells the property to a non - income qualified buyer (a family whose income exceeds 120% of median household income for Palm Beach County), leases the property, refinances the property or does not reside in the property as their full -time residence, the full sum of the Grant plus interest of 4% annum from the date of this agreement shall be due and payable. 6. Grantee /s state that they understand that upon the sale of the property within the first five (5) years of ownership, the Grantee /s must pay eighty percent (80 %) of the equity (determined by a fair market appraisal) to the Grantor. During years six (6) through twenty (20), fifty percent (50 %) of the equity shall be payable to the CRA. During years twenty -one (21) through thirty (30), fifteen percent (15 %) of the equity is payable to the CRA The Grantor's share of equity is due at closing. 7. The Grantor reserves the right of first refusal to purchase the Property at the fair market appraised value. Grantee must notify Grantor in writing of their intent to sell The Grantor shall have 45 days from the date of receipt of intent to sell, to exercise the right to purchase. Grantor shall notify Grantee in writing of the decision 8 Grantee acknowledges that it has received a Loan Assistance Note and Mortgage of even date with this Agreement and is familiar with, understands and accepts the temms and conditions contained therein as well as the terms and conditions contained in this Agreement For Grantor: For Grantee /s: Boynton Beach Community Redev - lopment Agency - 1) ?? • Executive Director Sigdature Lisa A. Bright Date: _ Lauren Godden Print Name .urn To: Lisa A. Bright Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33405 561- 737 -3256 MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE THIS MORTGAGE DEED executed this 28TH day of march, 2008 by Lauren Godden, A SINGLE WOMAN whose address is 1819 NE 5 ST, BONTON BEACH, FL 33435 (hereinafter called the "Mortgagor "), and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, Florida Statutes, whose address is 915 S Federal Highway, Boynton Beach, Florida 33435 (hereinafter called "Mortgagee "): WITNESSETH: That for good and valuable consideration, and also in consideration of the aggregate sum named in the promissory note of even date herewith, hereinafter described, the Mortgagor hereby grants, bargains, sells, promises, conveys and confirms unto the Mortgagee all the certain land of which the Mortgagor is now seized and in possession situated in Palm Beach County, Florida, to -wit: Legal Descrlodon Condominium Unit No. 1503, of THE PRESERVE AT BOYNTON BEACH 15, a Condominium, according to the Declaration of Condominium thereof, as recorded in Official Records Book 22258, Page 1033, of the Public Records of PALM BEACH County, Florida; together with an undivided share in the common elements appurtenant thereto. Property Address:1819 NE 5TH ST, BONTON BEACH, FL 33435 THIS IS A SECOND MORTGAGE, subject to the first Mortgage from Mortgagor to BANK ATLANTIC, ISAOA, in the original principal amount of $ 191.900.00. TO HAVE AND TO HOLD the same, together with the tenements, hereditaments and appurtenances thereto belonging, and the rents, issues, and profits thereof, unto the Mortgagee in fee simple. AND the Mortgagor covenants with the Mortgagee that the Mortgagor is indefeasibly seized of said land in fee simple; that the Mortgagor has good right and lawful authority to convey said land as aforesaid; that the Mortgagor will make such further assurances to perfect fee simple title to said land in the Mortgagee as may reasonably be required; that the Mortgagor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free and clear of all encumbrances other than the certain first and second mortgages referenced above. PROVIDED ALWAYS, that said Mortgagor shall pay unto said Mortgagee a certain promissory note hereinafter substantially copied or identified, to -wit: See Attached Exhibit A AND the Mortgagor hereby further covenants to occupy the subject premises as its MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE Page 2 of 5 principal residence and further covenants that if the subject premises is leased, sub- leased of otherwise devised or assigned to any person or entity during the term of the first mortgage then the principal shall become due and payable in full together with interest at four percent (4 %) per annum calculated from the time of purchase. AND upon sale of the property within the first five (5) years of ownership Mortgagor must pay eighty percent (80 %) of the equity in the property (as determined by fair market appraisal) to Mortgagee and the City proportionate to the amount of funding received from each. During years six (6) through twenty (20) of ownership Mortgagor shall pay to the Mortgagee and City fifty percent (50 %) of the equity in the property upon sale and during years twenty -one (21) through thirty (30) fifteen (15 %) of the equity in the property shall be paid to the Mortgagee and City proportionate to the amount of funding received from each AND Mortgagor shall perform, comply with and abide by each and every agreement, stipulation, condition and covenant in the Note, this mortgage and the Homebuyer Assistance Program Agreement attached hereto as Exhibit "B" and incorporated herein by reference (hereinafter "Agreement "). AND the Mortgagor hereby further covenants and agrees to pay promptly when due the principal and interest, if any interest shall be due, and other sums of money provided for in said Note and this mortgage, or either; to pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature on said property; to keep the property in good repair and to permit, commit or suffer no waste, impairment or deterioration of the property or any part thereof, except for reasonable wear and tear, so as to be in compliance with the Minimum Housing Code of the City of Boynton Beach, Florida at any time; to keep the buildings now or hereafter existing on said land fully insured in a sum of not less than market value with a company or companies acceptable to the Mortgagee, the policy or policies to be held by and payable to said Mortgagee, and in the event any sum of money becomes payable by virtue of such insurance the Mortgagee shall have the right to receive and apply the same to the indebtedness hereby secured, accounting to the Mortgagor for any surplus; to pay all costs, charges and expenses including attorney's fees and title searches reasonably incurred or paid by the Mortgagee because of the failure of the Mortgagor to promptly and fully comply with the agreements, stipulations, conditions and covenants of said Agreement, Note and this mortgage; to perform, comply with and abide by each and every of the agreements, stipulations, conditions and covenants set forth in said Agreement, Note and this mortgage. In the event the Mortgagor fails to pay when due any tax, assessment, insurance premium or other sum of money payable by virtue the Agreement, Note and this mortgage, the Mortgagee may pay the same, without waiving or affecting the option to foreclose or any other right hereunder, and all such payments shall bear interest from date thereof at the highest lawful rate then allowed by the laws of the State of Florida. AND IN THE EVENT of a voluntary sale or foreclosure, Mortgagor shall first provide notice of same to Mortgagee who shall have the first right to purchase the property from the Mortgagor for the fair market value of the property as determined by a current certified appraisal. Mortgagee shall have fifteen (15) calendar days after the date it receives a copy of the proposed contract to determine whether to exercise its right to purchase hereunder by sending written notice to the Mortgagor (it MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE Page 4 of 5 STATE OF FLORIDA ) COUNTY OF PALM BEACH ) The foregoing instrument was acknowledged before me this 28TH day of MARCH, 2008 by LAUREN GO DE1, `, o is /are personally known to me or who has produced as identification and who did take an oath. (Seal) Notary Public: Print Name: State of Florida at Large My Commission Expires: DALE pP. SWMK 111Cy�}�p te � i Pub • State of ` loat% r • H W # H ExP 24,2010 Y DD 543799 S '•1111111 Bonded E Nebonat Notary Assn. • MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE Page 3 of 5 being understood that Mortgagee's purchase price shall be the lesser of that set forth in said appraisal or proposed contract). Such notice shall reserve thirty (30) additional days for Mortgagee to complete all necessary preparations and close. AND IN THE EVENT any sum or money herein referred is not promptly paid within thirty days after the same becomes due, or if each and every agreement, stipulation, condition and covenant of said Agreement, Note and this mortgage, are not fully performed, complied with and abided by, then the entire sum unpaid thereon, shall forthwith or thereafter, at the option of the Mortgagee, become and be due and payable, anything in said Note or herein to the contrary notwithstanding. Failure by the Mortgagee to exercise any of the rights or options herein provided shall not constitute a waiver of any rights or options under said Note or this mortgage accrued or thereafter accruing. AND IN THE EVENT Mortgagor elects to refinance the Property, Mortgagor shall repay the entire principal balance in full together with interest at four (4 %) per annum calculated from the time of purchase. MORTGAGOR hereby acknowledges receipt of the Agreement and has familiarized itself with the terms and conditions contained therein, said terms and conditions being incorporated herein by this reference and binding upon Mortgagor. MORTGAGOR SHALL NOT execute an assumption or in any way convey its obligations under this mortgage or Note secured hereunder without the proper written consent of Mortgagee. IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and sealed its presence the day and year first above written. WITNESSES: BORROWER(S): Print Name ScAzy) L'L Print Name: LAUREN GODDEN cc- Print Name: fk L 4 , o 4-4-95 Print Name. MORTGAGE DEED FOR GAP MORTGAGE ASSISTANCE Page 5 of 5 Exhibit "A" GAP MORTGAGE PROMISSORY NOTE Amount: $ 50,000.00 Date: 03/28/2008 FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of the City of Boynton Beach, Florida (herein referred to as "Mortgagee "), the sum of FIFTY - THOUSAND AND 00 /100 DOLLARS ($ 50,000.00), without interest, in lawful money of the United States, at 915 S. Federal Highway, Boynton Beach, Florida 33435 or at such other place as the Mortgagee may designate in writing. This Note is given in accordance with the terms of and evidences a gap mortgage loan given by the Mortgagee for the exclusive purpose of: acquisition of an existing single family residential unit; acquisition and rehabilitation of an existing single family residential unit; construction of a single family residential unit; lot acquisition and construction of a single family residential unit; or acquisition of an existing townhome or condominium; which the undersigned will occupy as their principal residence. THE UNDERSIGNED RESERVE(S) the right to repay at any time all or any part of the principal amount of this Note without the payment of penalties or premiums and thereby remove the mortgage on the property securing this Note, provided that the cost of removal of said mortgage plus all other fees involved will be borne by the undersigned. THE MORTGAGEE AND THE UNDERSIGNED severally waive(s) demand, protest and notice of maturity, non - payment or protest and all requirements necessary to hold each of them liable as makers and endorsers. THE UNDERSIGNED further agree, jointly and severally, to pay all costs of collections including a reasonable attorney's fee in case the principal of this Note or any payment on the principal or any interest thereon is not paid at the respective maturity thereof, or in case it becomes necessary to protect the security hereof, whether suit be brought or not. THIS NOTE is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the State of Florida; and upon default in payment of the principal when due, the whole sum of principal and remaining unpaid balance shall, at the option of the City, become immediately due and payable. BORROWER(S): Print Name: LAUREN GODDEN Print Name: ATTACHMENT I.1_ Page 1 of 2 Simon, Michael From: Lauren Godden [laurenegodden @hotmail.comj Sent: Friday, November 02, 2012 12:40 PM To: Simon, Michael; Richard Carey Subject: RE: November 13 Meeting Thank you, Mr. Simon, - My best contact number is my cell phone, - I am currently employed. - The foreclosure/ short sale is a result of the allowance and installment of Section 8 Housing in my development. - An appraisal has not yet been conducted. Once it has, I will forward that information as soon as possible. - My attorney is Riichard Carey. His contact information is as follows: His mailing address is 1711 Worthington Rd., Suite 107, West Palm Beach, FL 33409.. His telephone is (561) 247 -1266. His fax is ( 561) 282 -3401. His email is RichardOrcareylaw.com. I have also added him to this email. I am not sure the exact amount of the grant I am asking the CRA to accept as part of the short sale. I will supplement that information as soon as I speak with my attorney. Thank you, Lauren Godden Subject: RE: November 13 Meeting Date: Thu, 1 Nov 2012 17:23:06 -0400 From: SimonM @bbfl.us To: laurenegodden @hotmail.com Thank you Ms. Godden. Can you please provide me with the following information: • ,\ contact number to reach you • Are you currently employed? • Is the foreclosure a result of illness, loss of employment, etc • Is there an appraisal and can you provide me a copy • What amount of the grant, if any, are you asking the CRA to accept or waive as part of the short sale • Your attorney's contact information The questions hsted above are those asked by the CRA Board of previous NAP grant recipients and I'd like to have those addressed in my agenda write -up Respectfully, /vlzcbciel .S anon / /,,, t,. r )o r,//// t '`, 1 ,ri,ioum(a},Iiljr ,, From: Lauren Godden [ mailto :Iaurenegodden @hotmail.com] Sent: Thursday, November 01, 2012 4:34 PM To: Simon, Michael Subject: November 13 Meeting Mr. Simon, Ms. Poag forwarded the email about adding both of us to the agenda for the November 13 CRA Meeting. I am including the information that was requested. Here is the information pertaining to my situation - Current value of my home - $65,000 - Current outstanding mortgage with BBT (formerly Bank Atlantic) - $l 81.000 - Offer - $80,000 (cash buyer) - Currently in pre- foreclosure stage - Represented by Richard Carey. Esq Please let me know that you received this. Also, please let me know if there is any additional information or materials needed. Thanks, Lauren Godden 1 819 NE 5th St., Boynton Beach, FL 33435 Cell (561) 414 -5739 ATTACHMENT III DIRECT INCENTIVE FUNDING AGREEMENT Direct centive Funding Agreement (hereinafter "Agreement ") is entered into as of the / day of 2006, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as "CRA "), with a business address of 915 South Federal Highway, Boynton Beach, Florida 33435. And Boynton Village, LLC, (hereinafter referred to as "Developer "), with a business address of 2121 Ponce de Leon Boulevard, PH, Coral Gables, Florida 33134, and/or assigns. RECITALS: WHEREAS, as part of its strategy to encourage homeownership by families within certain income brackets, the CRA has instituted certain programs to provide incentive funding to developers, including the Direct Incentive Program for Workforce Housing adopted on August 8, 2006, for direct assistance offered by the developer to such qualifying homebuyers; and WHEREAS, at the September 12, 2006, meeting of the CRA Board, the CRA Board approved amending its Homebuyers Assistance Program and directed staff to begin negotiations with Developer to create between 25 and 50 affordable homeownership opportunities for a project known as The Preserve (hereinafter the "Project ") (subsequently, Developer agreed to set aside 50 affordable units as set forth within this Agreement); and WHEREAS, Developer is hereby submitting to the CRA a proposal to offer to qualified homebuyers such assistance for the Project; and WHEREAS, the CRA intends to provide incentive funding to the Developer for such homeownership opportunities on the basis set forth herein; and WHEREAS, this Agreement is not intended to be a "Development Agreement" within the meaning of Florida Statutes, Section 163.3221. NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements herein contained and other good and valuable consideration, the receipt of which is hereby acknowledged, it is agreed herein between the parties as follows: Section 1. Recitals. The foregoing recitals are true and correct at the time of the execution of this Agreement and are incorporated herein. !`D A _ rn.wa..Mnn• nUFA — I(1.77d1(i Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings: "Affiliate" of a party means any corporation, partnership, limited liability company, trust or other entity controlling, controlled by, or under common control with such party (whether directly or indirectly through one or more intermediaries). For the purpose of this definition, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies, whether through the ownership of voting interest or by contract or otherwise. "Affordable Access Unit" means the fifty (50) units committed to by Developer to qualify for the affordable access as described in this Agreement (also described as "Workforce Housing" within the CRA Guidelines). "Agreement" means this Direct Incentive Funding Agreement and all exhibits and attachments thereto, as any of the same may hereafter be amended from time to time, by mutual agreement of the parties. "Developer" means Boynton Village, LLC, and any assignee or transferee of Boynton Village, LLC, that is permitted under this Agreement, from and after the date of such permitted assignment or transfer. "City" means the City of Boynton Beach, Florida. "Pledged Project Increment Revenues" means the Project Increment Revenues received by the CRA which are pledged to the Developer as set forth within Section 6.1.C. of this Agreement. "Project" means The Preserve as described above in the second "Whereas" clause, and as further described in the Application defined above and in the site plan defined below. "Project Increment Revenues" means the amount deposited in the Redevelopment Trust Fund for the Redevelopment Area pursuant to Florida Statutes, Section 163.387, which is attributable to the Project, using $1,025,000 as the 2004 base year amount in calculating such increment revenues, so that increment revenues for the Project are equal to all amounts over the base year amount. "Property" means the real property described on Exhibit "A ", attached hereto. "Redevelopment Area" means those areas within the limits of the City which have been declared blighted in accordance with the provisions of Florida Statutes, Chapter 163, Part III. "Redevelopment Trust Fund" means the trust fund established pursuant to Section 163.387, Florida Statutes for the deposit of incremental revenues attributable to the Redevelopment Area. O:\CORDO03 - Boynton Beach CRA - Cornerstone DIFA — 10-27-06 2 "Site Plan means that as approved by the City of Boynton Beach City Commission by motion and vote on April 5, 2005, a copy of which is to be attached hereto as Exhibit "B". "Substantial Completion" or "Substantially Complete" means the point at which the Palm Beach County Property Appraiser has placed the improvements on the Tax Roll. "Tax Collector" means the duly elected tax collector for Palm Beach County, Florida. "Tax Roll" means the real property ad valorem assessment roll maintained by the Palm Beach County Property Appraiser for the purpose of the levy and collection of ad valorem taxes. Section 3. Effective Date. This Agreement shall be effective on the date that the last party to sign executes this Agreement (hereinafter "Effective Date "). Section 4. Developer Oblisations — Construction. Developer agrees to construct or cause to be constructed the Project as described in the Site Plan in order to receive the full Direct Incentive Funding as provided for in Section 6 hereof. The Site Plan may be modified from time to time in accordance with and pursuant to the Code of Ordinances of the City of Boynton Beach; provided, however, that Developer shall not have the right to substantially reduce the number of residential units, change the exterior appearance, including landscaping, the size or scope of the amenity areas, the number of parking spaces or to make any other change which would cause the Project to differ substantially from the approved Site Plan without the prior written approval of the CRA in order to receive the full Direct Incentive Funding as provided for in Section 6 hereof. "Substantially" as used in this Section means any change that would require a major Site Plan Modification. Developer and the CRA acknowledge, agree and understand that the Project is under construction as of the date of this Agreement. 4.1. Non - Discrimination. Developer agrees that no person shall on the grounds of race, color, disability, national origin, religion, age, familial status, sex or sexual orientation be excluded from the benefits of, or be subjected to discrimination under, any activity carried on by Developer, its contractors, sub - contractors, or agents, in the performance of this Agreement. Should such discrimination occur, the CRA will provide notice to Developer that it claims there has been a breach of this condition and thereafter, Developer shall have fifteen (15) business days to demand arbitration as to the claim of discrimination. The parties will then mutually agree in writing to an arbitrator and if they cannot agree, the rules of the American Arbitration Association will govern. The arbitration will be governed by the rules of the American Arbitration Association regardless of whether an arbitrator is agreed upon by the parties. This arbitration shall be independent of any other actions being taken by other governmental agencies. However, a finding by any other agency or court that such discrimination has occurred may be relied upon by the CRA as conclusive proof of a breach of this provision, provided such finding is final and not appealable. If Developer does not demand arbitration within fifteen (15) business days, or if arbitration is conducted and it is determined by the arbitrator that discrimination occurred, the CRA shall have the right to terminate this Agreement and pursue any and all other lawful remedies. The cost of such arbitration shall be borne by the non - prevailing party. Such non - prevailing party shall be determined by the arbitrator. 4.2. Convicted Vendor List. As provided in F.S. 287.132 -133, by entering into this Agreement or performing any work in furtherance hereof, Developer certifies that it, and its affiliates, contractors, sub - contractors or agents who will perform hereunder, have not been placed on the Convicted Vendor List maintained by the State of Florida Department of Management Services within thirty-six (36) months immediately preceding the Effective Date. n 5. Affordable Access Requirements. As a condition precedent to its receipt of any funds pursuant to this Agreement, Developer and its successors or assigns, shall implement an affordable access component to the Project as provided for in this Agreement, the CRA's Workforce Housing Direct Incentive Program Guidelines, and as set forth below ( "Affordable Access Requirements "). Implementation and maintenance of the Affordable Access Program shall be as follows: 5.1. Affordable Access — Residential. 5.1.1. Developer agrees to set aside fifty (50) units designated as Affordable Access Units. 5.1.2. Developer agrees to reduce the price of the fifty (50) units designated as 1 Affordable Access Units by Sixty Thousand and No /100 Dollars ($60,000.00) for the Cypress Model, Fifty Thousand and No /100 Dollars ($50,000.00) for the Palm Model, and Forty Thousand Dollars ($40,000.00) for the Banyan and Hibiscus Models (see attached Price List marked as Exhibit "C" which is attached hereto and made a part hereof) to buyers whose income does not exceed 120% of Median Household Income ( "MHI") for Palm Beach County as set by the United States Housing and Urban Development ( "HUD ") for the year 2006. Proof of income qualification for the Affordable Access Units shall be provided to the CRA prior to any disbursement of Pledged Project Increments Revenue. Examples of acceptable forms of proof include HUD closing statements executed by the buyer and seller; copies of two years of tax returns; and/or paycheck stubs for all adults in the buyer's family for the two weeks prior to closing including proof of family size. 5.1.3. Qualifications for buyers of the Affordable Access Units and related re- sale requirements and restrictions shall be found in Exhibit "D" attached hereto and made a part hereof (the CRA Homebuyer Assistance Program Guidelines 2006/2007). 5.1.4. The re-sale limitations and requirements set forth herein shall be included in the deeds of sale, to be executed by Developer as seller (or its successors or assigns) and the purchaser at the time of closing on the initial sale of the Affordable Access Units; shall constitute a covenant running with the unit; and shall be recorded in the Public Records of Palm Beach County, Florida. CRA shall approve the form of the deed prior to execution. 5.2. Performance Audit. Prior to receiving the annual allotment of Pledged Project Increments Revenue, Developer shall provide written audited verification, at its sole cost and expense, of substantial completion and of compliance with the requirement to sell 50 Affordable Access Units. OACORD003 - Boynton Beach CRA - Cornerstone D1FA — 10-27 -06 4 5.2.1. This performance audit shall be conducted by an independent Certified Public Accountant (CPA), selected and paid for by Developer with the approval of the CRA. 5.2.2. With respect to the Affordable Access Unit component of the Program, the CPA must examine the qualifying income data for every purchaser identified as a qualifying purchaser pursuant to the Affordable Access Unit requirements and must certify, in writing, the eligibility of all such qualifying Purchasers under the Program. The written opinion must include verification of the number of residential units which are owned by qualified purchasers. Developer must provide all necessary documents to conduct the audit including, but not limited to, the executed deeds and closing statements. 5.2.3. The examinations and opinions required under this Section must be conducted in accordance with generally accepted accounting standards established by the American Institute of Certified Public Accountants, 5.2.4. The audit required pursuant to this Section may be performed in conjunction with other auditing services. 5.2.5. Disbursement of the Pledged Project Increment Revenues shall only occur upon the CRA's acceptance of a properly documented and supported audit. Disbursement of Pledged Project Increments Revenue shall be conducted pursuant to the Direct Incentive Program for Workforce Housing Guidelines. An example of such funding disbursement is attached as Exhibit E. 5.2.6. It is acknowledged, understood and agreed that Developer may not be able to sell each Affordable Access Unit. In the event that not all Affordable Access Units are sold, then the funds Developer would otherwise be entitled to shall be reduced by an amount corresponding to the percentage as set forth in Section 6.1.A herein. See also Exhibit E as an example. 5.2.7, Exceeding the agreed upon requirements of the 50 Affordable Access Units shall not entitle Developer to additional funding under this Agreement or to a credit or set- off against any reduction in funds due to failure to meet the other Affordable Access Requirements in earlier years hereunder. Section 6. Direct Incentive Funding. The direct incentive funding provided for under this Agreement is granted to Developer for the purpose of offsetting, in part, Developer's cost of creating fifty (50) affordable residential units. 6.1. Direct Incentive Fundine Formula and Term. The CRA hereby agrees to direct fund, that is, to pledge and assign to Developer for a period of ten (10) consecutive years, as provided herein and below, an annual amount which equals the Pledged Project Increment Revenues as set forth in subsection 6.1.C. herein less any amounts deducted pursuant to the terms of Section 5 above due to the failure of Developer to comply with the Affordable Access Requirements of this Agreement. ....snrsnne o_. _.__ n_ t f'n A MCA _ IA_17.111. 9 A. The Pledged Project Increments Revenue shall be awarded pro rata based on the proportion of Affordable Access Units sold to eligible buyers. For example, if ten (10) percent of affordable access units are sold in the first year the Project Increment Revenues are available, Developer is entitled to 10% of the eligible Pledged Project Increments Revenue that year. If, the following year 100% of affordable access units are sold, Developer is entitled to 100% of the Pledged Project Increments Revenues that year and in continuing years until the ten -year period has terminated. See • Exhibit E attached hereto and made a part hereof for the estimated Pledged Project Increments Revenue Calculation for this Project. B. Developer shall have the option to postpone the first Pledged Project Increments Revenue disbursement to the following year at Developer's option with written notification provided to the CRA in advance of the disbursement. C. For the first through fifth disbursements of the Pledged Project Increments Revenue, the Developer shall be entitled to 75% of the Project Increment Revenues. For the sixth through tenth disbursements, the Developer shall be entitled to 25% of the Project Increment Revenues. 6.2. Commencement and Conditions of funding. The ten (10) year term for each Phase for the receipt of Pledged Project Increments Revenue shall commence in the year that the following conditions are met: A. The Project is Substantially Complete; B. The completed improvements of each Phase have been placed on the Tax Roll; C. The CRA has determined that Project complies with the commitments and with all of the terms and provisions of this Agreement; D. All requirements as set forth within this Agreement have been complied with by Developer; and E. The CRA has received Project Increment Revenues from such improvements. 6.3. Disbursement of Funds. Except as otherwise provided herein, the Pledged Project Increment Revenues shall be disbursed to Developer by April 1 of the year following the corresponding ad valorem tax year O:\CORD003 - Boynton Beach CRA . Cornerstone DIFA —10- 27-06 6 6.4. No Pkdae of Pkdaed Proiect Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by term of this Agreement. 6.5. Subordination. Any Pledged Project Increment Revenue of the CRA pursuant to this Agreement is subordinate to the pledge of the tax increment revenue given to secure the CRA's Tax Increment Revenue Bonds pursuant to Resolution No. 04 -04, adopted December 6, 2004, as amended and supplemented. Section 7. Events of Default. Remedies and Termination. 7.1. Default. Upon the occurrence of any one or more of the following events, all obligations of the CRA to disburse further funds under this Agreement shall terminate at the option of the CRA. Notwithstanding the preceding sentence, CRA may at its option continue to make payments or portions of payments after the occurrence of one or more of such events without waiving the right to exercise such remedies and without incurring liability for further payment. The CRA may at its option terminate this Agreement and any and all funding under this Agreement upon occurrence of any one or more of the following: 7.1.1. Any representation by Developer in or in connection with this Agreement is inaccurate or incomplete or false in any material respect. 7.1.2. The failure of Developer or its Affiliate to observe or perform any of the terms, covenants, conditions, obligations, or provisions of this Agreement in any material respect to be observed or performed by Developer or such failure continues for a period of thirty (30) days after written notice thereof from the CRA to Developer provided, however, that if the nature of Developer's default is such that more than thirty (30) days are reasonably required for its cure, then Developer shall not be deemed to be in default if Developer commenced such cure within said 30 -day period and thereafter diligently pursues such cure to completion. 7.2. Remedies. Upon the occurrence of any one or more of the foregoing events, CRA may, at its option, give notice in writing to Developer to cure its failure of performance if such failure may be cured. Upon the failure of Developer to cure, CRA may exercise any one or more of the following remedies: 7.2.1. Terminate this Agreement upon not less than fifteen (15) days notice, by certified letter to Developer at the address specified in Section 8.5 of this Agreement, such notice to take effect when delivered to Developer. 7.2.2. Commence a legal action for the judicial enforcement of this Agreement and for any and all damages occasioned by Developer breach of this Agreement including, but not limited to, repayment of funds disbursed to Developer as a result of fraud or material misrepresentation. 7.2.3. Withhold the disbursement of any payment or any portion of a payment. 7.2.4. Take any other remedial actions that may otherwise be available under law. 7.3. Attorney's Fees and Costs. In any judicial action arising from this Agreement the prevailing party shall be entitled to an award of its reasonable attorney's fees and costs, at both the trial and appellate levels, from the non - prevailing party. However, the CRA shall not be required to exceed its limits of liability as set forth in section 768.28, Florida Statutes. 7.4. Law and Remedy. This Agreement shall be governed by the laws of the State of Florida. Venue of any and all legal actions arising from this Agreement shall be in Palm Beach County, Florida. No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise. No single or partial exercise by any party of any right, power, or remedy hereunder, shall preclude any other or further exercise thereof. 7.5. Strict Performance. No failure by either party to insist upon strict performance of any covenant, agreement, term or condition of this Agreement or to exercise any right or remedy available to such party by reason of the other party's Default and no payment or acceptance of full or partial payments of amounts due under this Agreement during the continuance (or with CRA's knowledge of the occurrence) of any Default or Event of Default, shall constitute a waiver of any such Default or Event of Default or of such covenant, agreement, term, or condition or of any other covenant, agreement, term, or condition. No waiver of any Default shall affect or alter this Agreement, but each and every covenant, agreement, tenn and condition of this Agreement shall continue in full force and effect with respect to any other then existing or a subsequent Default. Payment by either party of any amounts due under this Agreement shall be without prejudice to and shall not constitute a waiver of any rights against the other party provided for under this Agreement or at law or in equity. One party's compliance with any request or demand made by the other party shall not be deemed a waiver of such other party's right to contest the validity of such request or demand. All the terms, provisions, and conditions of this Agreement and the restrictive covenants shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. The Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both parties have contributed substantially and materially to the preparation of the Agreement and the restrictive covenants. 7.6. Remedies Under Bankruutcv and Insolvency Codes. If an order for relief is entered or if any stay of proceeding or other act becomes effective against Developer or in any proceeding which is commenced by or against Developer under the present or any future federal bankruptcy code or in a proceeding which is commenced by or against Developer, seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any other present or future applicable federal, state or other bankruptcy or insolvency statute or law, CRA shall be entitled to invoke any and all rights and remedies available to it under such bankruptcy or insolvency code, statute or law or this Agreement. O:ICORD003 - Boynton Beach CRA - Comerstone DJFA — 10-27 -06 8 7.7. Termination. The obligations of Developer and CRA shall terminate upon the expiration of the Project Increment Revenues payments to Developer as provided in Section 6 above as a result of the expiration of the agreed upon payment periods. Section 8. General Conditions. 8.1. CRA's Maintenance of Records and Annual Account Funding. Commencing with the Effective Date, the CRA shall maintain and administer separate financial records which reflect terms of this Agreement. Such records shall clearly document for the benefit of the CRA and Developer, the Base Year amount and the annual revenue collected by the CRA attributable to the Project and the annual amounts owing and paid under this Agreement. 8.2. Successors and Assigns. The CRA and Developer each binds itself and its successors, executors, administrators and assigns to the other party and to the successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Prior to Substantial Completion of the Project, without the prior written consent of the CRA, Developer may transfer this Agreement to an Affiliate who reaffirms that Developer shall continue to be responsible for all the obligations of Developer under this Agreement in order to receive the full Pledged Project Increments Revenue as provided for in Section 6 hereof; provided, however, that prior to Substantial Completion of the Project, this Agreement may not be assigned by Developer to any third party without the prior written consent of the CRA and without the assignee's specific written assumption of all of the obligations of Developer under this Agreement. After Substantial Completion this Agreement may be assigned by Developer; provided, however, that any assignee thereto shall specifically assume all of the obligations of Developer under this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and Developer. In the event that the CRA determines that Developer is in violation of this paragraph, the CRA shall have the right to terminate this Agreement and to seek repayment of the funds paid by the CRA to Developer. 8.3. No Brokers. CRA and Developer each represents to the other that it has not dealt with any broker, finder, or like entity in connection with this Agreement or the transactions contemplated hereby, and each party shall indemnify the other against any claim for brokerage commissions, fees, or other compensation by any person alleging to have acted for or dealt with the indemnifying party in connection with this Agreement or the transactions contemplated hereby. 8.4. Indemnification and Hold Harmless. Developer agrees to protect, defend, reimburse, indemnify and hold the CRA, its agents, employees and elected officers and each of them, free and harmless at all times from and against any and all claims, liability, expenses, losses, costs, fines and damages, including attorney's fees, and causes of every kind and character (sometimes collectively "Liability ") against and from the CRA which arise out of this Agreement, except to the extent that any of the Liability results from the negligence or willful misconduct of the CRA. Developer recognizes the broad nature of this indemnification and hold harmless clause, and voluntarily makes this covenant and expressly acknowledges the receipt of good and valuable consideration provided by the CRA in support of this clause in accordance with the laws of the State of Florida. CRA's indemnification obligations shall not exceed the - - - -_ 4 statutory limits provided within Section 768.28 Florida Statutes, and CRA does not waive its sovereign immunity rights. This paragraph shall survive the termination of the Agreement. 8.5. Notices and other Communications. Whenever it is provided herein that notice, I demand, request, consent, approval or other communication shall or may be given to, or served upon, either of the parties by the other (or any recognized mortgagee), or whenever either of the parties desires to give or serve upon the other any notice, demand, request, consent, approval or other communication with respect hereto or to the Project, each such notice, demand, request, consent, approval or other communication (referred to in this Section 9.4 as a "Notice ") shall be in writing (whether or not so indicated elsewhere in this Agreement) and shall be effective for any purpose only if given or served by (i) certified or registered United States Mail, postage prepaid, return receipt requested, (ii) personal delivery with a signed receipt or (iii) a recognized national courier service, addressed as follows: If to Boynton Village: Boynton Village, LLC c/o Cornerstone Group Development, LLC Attention: Leon Wolfe 2121 Ponce de Leon Boulevard, PH Coral Gables, Florida 33134 With Copies to: Michael Weiner, Esq. Weiner & Aronson, P.A. 102 North Swinton Avenue Delray Beach, Florida 33444 If to CRA: Boynton Beach Community Redevelopment Agency Lisa Bright, Executive Director 915 South Federal Highway Boynton Beach, Florida 33435 With Copies to: Kenneth G. Spillias, Esq. Lewis, Longman & Walker, P.A. 1700 Palm Beach Lakes Boulevard, Suite 1000 West Palm Beach, Florida 33401 8.5.1. Any Notice may be given in a manner provided in this Agreement on either party's behalf by its attorneys designated by such party by Notice hereunder. 8.5.2. Every Notice shall be effective on the date actually received, as indicated on the receipt therefore, or on the date delivery thereof is refused by the intended recipient. 8.6. Time is of the essence. The parties acknowledge that time is of the essence in the performance of the provisions in this Agreement. 8.7. Entire Agreement. The CRA and Developer agree that this Agreement sets forth the entire agreement between the parties and that there are no promises or understandings other O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 10 than those stated herein. None of the provisions, terms and conditions contained in this Agreement may be added to, modified, superseded, or otherwise altered, except by written instrument executed by the parties hereto. 8.8. Exhibits. Each Exhibit referred to in this Agreement forms an essential part of this Agreement. Any exhibits not physically attached shall be treated as part of this Agreement and are incorporated herein by reference. 8.9. Severability. If any provision of this Agreement or application thereof to any person or situation shall, to any extent, be held invalid or unenforceable, the remainder of this Agreement, and the application of such provisions to persons or situations other than those as to which it shall have been held invalid or unenforceable shall not be affected thereby, and shall continue in full force and effect, and be enforced to the fullest extent permitted by law. 8.10. Priority of Internretation. In the event of any conflict between the terms and conditions of this Agreement and the Direct Incentive Program, the terms and conditions of this Agreement shall prevail. 8.11. Headings. Headings herein are for convenience of reference only and shall not be considered in any interpretation of this Agreement. 8.12. Insurance. All parties hereto understand and agree that the CRA does not intend to purchase property insurance in connection with this Project. 8.13. Binding Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and Developer (or in any representative capacity) as applicable, has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 8.14. Recording. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. SIGNATURES ON FOLLOWING PAGE IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. • WITNESSES BOYNTON VILLAGE, LLC B Print s e: ALT P ' LEON J. WOLFE Ti e: ^ Date: �Y� 7 ro Print name: KM ssa ' e ez BOYNTON B ACH COMMUNITY REDEYE'. MENT 4441114144" AGF� CY By: 4 4- Print . • Print name: 4i 1FNlS.Nlljrlkr► Title: Chairperso 'k ni , - Date: l } / /X04 • name: t 1 O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 12 STATE OF FLORIDA SS: COUNTY O BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, personalty appeared LEON J. Wf I FF as P Z 'A r of S 77N t.L W.. and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of M ^ iilaeleifi for the use and purposes mentioned herein and that the instrument is the act and deed of . /she is personally known to me or has produced as identification. — IN WITNESS OF THE FO ' • ING, have set i ry y hand and official eal at in the State and County aforesaid on this �' :y of . 1 , 2006. 0/ •,. Le a11i ' man / / .. Commission S DD312446 ti �• fixpires: Apr. 23, 2008 No P c, State of Florida at Large �» AtIannie ` ic, C•� IM. My Co ssion Expires: STATE OF FLORIDA SS: COUNTY OF PALM BEACH : BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, personally a p p e a r e d Asp claeso 0 r l l u,►a as GL -' - of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, for the use and purposes mentioned herein and that the instrument is the act and deed of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. He /she is personally known to me , or has produced as identification. IN WITNESS OF THE FOREGOING, I have set my hand and official seal at in the State and County aforesaid on this / P-4 day of cwL Q r , 2006. SUSAN E. HARRIS 17441)Asts-4 Nobly pule, State of Florid •'l * tr y 100 24469• Notary Public, State of Florida at Large My Commission Expires: q /a-3 /poo Exhibit "A" Property Description That portion of Lots 20 through 26, inclusive, lying East of the West line of Section 15, Township 45 South, Range 43 East, Boynton Beach, Florida as shown on the Plat of SAM BROWN JR.'S HYPOLUXO SUBDIVISION, as recorded in Plat Book 1, Page 81, in and for the Public Records of Palm Beach County, Florida, less however the South 332 feet, of the West 165 feet, (as measured along the West and South lines) thereof. Together with the beneficial interest in that certain Ingress and.Egress Easement contained in Warranty Deed recorded in Official Records Book 3580, page 1323. Together with the beneficial interest in that certain Utilities Easement contained in Warranty Deed recorded in Official Records Book 3580, Page 1323, as modified by Relocation and Grant of Easement recorded in Official Records Book 6686, page 191. O:\CORD003 - Boynton Beach CRA - Cornerstone DIA —10 -27-06 14 Exhibit "B" Site Plan t 1 il . E ;.w ltew K E � 71 1 f � ii i t I .i ..m. ! p :.. i 1 4 ,,, ,. ,I IR 4 i.: , L , ,- , ,, L „,. .„, [1' i ii . ., ,... ,; II t o I fi t �! c v ini 1 i i Pril ittgli rwp n.w Wpm s.*. ►. ..... sew ■••• ar.,.w t ti NM. OM. NI WORM 0../.. aegol.... r.,... ....y.......- ,....r ...... w +04* . f.... r... +..w.. mows. . 1 C Exhibit "C" Price List 67 i34 MN5'C7N MCA C, HP PRICE LIST Banyan From S289.99t} 2 Bad 2 Bath 1 car garage 1,071 stiAL sq. * aie area Cypress From 5349,990 2 Bed, plus Den / Bedroom, 2 Baib 1 car garage 1,561 sq. ft. afc area Hibiscus From 5279,990 3 Bed 3 Bath 1 car garage 14557 sq. ft. IVO area Palm From $2$9,990 3 Bed 3 Bath 1 car garage 1,601 sq. f . ale area Prices subject to change without prior notification 7/29,K16 it "ANL 1MM4 b!� O.fU Sa 9IDA Y lf l 7RALANDO eINAI E* 1 As l _ 0LSMI�M _ #aliD R@aM N �RaM'r 7MRi aa�N7►17O�I�� __ i� 3G If11 11RBCt 16 F UU dR mow Ti MOON TO O:ICORD003 - Boynton Beach CRA - Cornerstone D>FA —10 -27-06 16 Exhibit "D" CRA Homebuyer Assistance Program Guidelines A etRAIL EastSidanoVittat ildedgim ideribernisoa for limmena Bee* Cammunity iledieralipmear Away The 8oyancin Reach Commneulty Redevrdspatart Alconey I ieeoignises dim dm fdtnre economic bale a `tlr* Caty dspenda upon the atfilotent apply Of housing j.soed Tor working dos. As housing g p climbed by double" digits la 140054306, NNW dies were priced set elm housing Madera Tim City orDerrtoa bow l& gnoetvn. etole Hum img imitativo ru "aoorsen MAP) dollars le provide dorm payment andiemes to low cad madame beam r bsmillies. Due to rapid hootrtbn, appreeirdiaz. the member of low and moderate iarromo families who nen sdlbed so biiy bones has deerawed. In an effort to assist more lies the CRA has hopletacasted the Homebuyer Automats Program. Fropcaart daub am be layered with ti Cm's 800' Dawct Payment Assistance Proven to povvids nap ftiaaastng to faunas. If SHIP funds are uaav eliable, HAP funds can be used as the sae worm of down payment erwiteanee ss long es applicants meet all SHIP ci1eria ea set by die City of Boynton pe.ch. Ptapam Guidelines ! _ Rustling is on a ft - come. titabspproved basis. 2. Anhwei eat Mehemet mast yr P all o �o� c be ccaademed by dm Cites C cerm unit I Program. or. Caeaarlarmity How Cites Community Draudopsareat Owning= , A espied ler HAP funds mut be made on the appiicoe i behalf by Aber the tidy err CFIDO.. 3. Pu o Pr ow New —Net to emceed $2110, Wain —Nat to masatl $211462 Now Hums Construatiat Lame the value of die City/ RA lot twanged to boansbnym ie eueludod Awn the CIPACtitymbsidy aaarosrttt, but is tnduded in the permsanent ateepage eseusabeenee 4, table Properties iaelttde eeivrtbrd,. a i ew1amity Warm oaaaituatian arum simple ►flamlty homes, iowmba,mes and condomietemas located sittaht the cRA. -- -�. .,. 1 7 2 5. use of P rada: a. Down nett and oloalag oasts. h4 It laser Of aagab.d to Was the bamr up 4o cods) tG_ Fsadlias with depetsdaat, ardent tda1& raoaivo predirnease. 7. Pants= tvotithog widths tbs Cap of Royston laa.rmlt .still receive pmilaeso+. B. App1icata* attiployal in the •Ituae rilstt ee.riicw'" madam (n .a.stre, Folio% i3r.d3pLMrea. hariblicr a +tserlores sad drilled dai4linR Oradea) will r.cs ve prefireaee. S►_ lnccrefeSwot all adsM aseslrers ofthc household will ler included in Ste dataputadon of swam taeotna 10. Clip sad Clerk ituralos When sot coetwe d€ 40% fbr enoderata i at r ee Layer. sod 503 host low inseam larval* of tisptnvbsso pricey The aaivai ameaet of tlmadtop a.nvtded Audi depend end epode the &odic K pap Irt awe 01016 AMU CRA. teaat i * Le atratodd abs'iw the ending pep amatt or 050.000010.. JGr1MabII3Isd a mtpaaas..Ltod to bthasilag Ilse borne op to code mw be iseciadad yid to MOW l.Rttemple #i Merit.de 1aoente Hoaeahotd 5 600100 Ptanoha.e Prime of Horan S2*0,.000 C[osigs Courts $ 5,000 laactiata n ltdortgo,ge Aasattot S213,7 cliy e lrittimaoa SHIP Dawn payenamt S 50,000 Modiste Chop $ 0 Prottata ofroblic Subsidy 29% Low I cart Nou.abo$d s 46 rtradi o Prise ofxaano s20 0, 00 Clodag Caste $ 5000 Ms,daii m Itdott.a.e A:mow c $ 364,700 Cites Mmtisoata SHIP Down paynatgtt s 75,000 Pbsdlrs tiap $ 45,300 Pttraoat ofPtrblia Snh.idy 43% 11. Projected Loosing ewe inolod9l g mortile.e. imares& axon, iaattra 0-e read btomsowattes ateoaattic+ aro .ball not Lowe ed 35% of woe* heateaboid Imam* or wherever thus primary leader datawaince. 'Cite reardeottak teat rtam ratio Peed houtrfrna a gteasee plcs orate ntonthIy debt ob4idation l sisal sat era.si 4516 of laccrnee, era ah...Y. gib. ........ee...e ...:..._ _ . O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10-27 -06 18 3 8keaepla 0111 ainderaas ino.am 1160,000 Oases ifewelaly Lame 0 31100 Aai Pleymert (bd. tunas .1t. inartittrm d $ 12 Other Mit S0lasisD ilRpsass Rath, toot b mond 3390 am Cisme 11 Dia P ° el% Salem la 02 Lott Ilnssons * 402100 deaet.ini eddy litooanc f 3 hiiaegyar s lay mml Cin& worm d< imamate) It 9s? Other Deist $ 300 1FlsttaTh >hmensa Redo 29% Debt ]Rollo 3111% 12. Applicants mast be $Mt netts >Ilelmlbiarern. wide no p u viatin beemeraweraltip within iher met three years ae dataeatitled by reviewing the dams Cae•aeltaa yews ofiadaatl .ia00tlae pat raeaas. C. Puade dint b.r ire the ibene ors 014 meand buidart Onitoottelptips. 1f Oi31P quids sae used CIRA.flamas wiri ba in ab.* a elaiWad *OW 1M Cary of Boirefte Dandles annumbaniaa. riningarearra ofths CIttie AarM11i vrillmli bs required if Me beans is ilmold so m imams tplaillital buyer. kawswe evalifiltelthea ofiku sum humor Ada ba ar tni rind lay Pm City afDbirman i reb Carmamadier 7lapaoemnans Divieilon and haevesdsd to tie CRiA pairs so aiming. IlRmater Ws a aair.ilaauso qualified buyer will rogeha repayment °Ma CAA adb> idy amount is OM at them ofel.sistp. 13- Re6oaaoioit or the Dteperty was aroma m of R A fiends width w test smeared at dlli per seen. Redinanni g erf pvrperty iwsp turps sanded h. apsdal dnetamsrartoas with priarwdlsso approved Owen inn City and CAA- 14. Ptmilief who reoarro CAA 1Eiova6uyers Aswnsaas Mali occupy the ideiddear r for !be ism. Often first ttteatrltpe lf' dip i'.ridaaw is I..a.d and We Reinter accutd bi' Ow rweiptsfrt atc *.A C reside. KU PA funds plum iniemat et 411 rmeoee ham theta of tab prool rssidrryY tots the City an d ORA oasau4 by the musiewssary of the 1i eloelug dote The aooip lent ileum of want a Milky bill ionwiep ens pr ipwat troiphaus uteri end address. 1l adinea to nuns ply tai in Ma C*A hands 6saomim due wed p.ydd.: 15_ bola salts aa" the within the line Quo poem des waver fait pay 11096 of time g aony (detotmiiMmediae appraisal) to the Clily aalid CIRA pee Ptetionabe be the a nsamea of funding $ aim emit entity. Dustup yaws 620, 3014 unite equity and diming years 21..30, 1314. of nee equity is der to the City mad CRA upon sale tftbapepar+tj Thuampi= 4411tANnTli era.ussor Aaniktimo0 Aarinsssa litolsrlearaaaac s ft 4 OIloel Noon Om 12250000 City SHIP hook S 5009 (73/0 A Ponds 3 20,000 (NM 1155,000 Now Wu him +yr5 _ $211,000 BOINY S 30,000 710' Pioilyt to lobo SW/00 Parma afBgaity aty s mad Pomo otEgtt*y to CAA 311.600 16. Ile C and CRA cult filigete the ipt.oMMOneuw1 to purchase who "Arnold* opprolool video within 45 dot arwrivaa motive two lhopcapGrtlr owoote. 17. Ofaing ofihe; Mgr= Is no .g loo of funding, All &clai e a are wed to approtool aloe Cam. Booted of %Mom O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 20 Exhibit "E" Pledged Project Increments Revenue Formula Examples # of Affordable # of Affordable Access Access Units Sold % of Eligible TIF Units Sold % of Eligible TIF 1 2% 26 52% 2 4% 27 54% 3 6% 28 56% 4 8% 29 58% 5 10% 30 60% 6 12% 31 62% 7 14% 32 64% 8 16% 33 66% 9 18% 34 68% 10 20% 35 70% 11 22% 36 72% 12 0.24 37 74% 13 26% 38 76% 14 28% 39 78% 15 30% 40 80% 16 32% 4' 82% 17 34% 42 84% 18 36% 43 86% 19 38% 44 88% 20 40% 45 90% 21 42% 46 92% 22 44% 47 94% 23 46% 48 96% 24 48% 49 98% 25 50% 50 100% - -- -- 11 SECOND AMENDMENT TO DIRECT INCENTIVE FUNDING AGREEMENT DATED DECEMBER 19, 2006 Between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY And BOYNTON VILLAGE, LLC WHEREAS, on December 19, 2006 the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ( "BBCRA ") and BOYNTON VILLAGE, LLC entered into a Direct Incentive Funding Agreement (the "Agreement ") relative to the Project known as the "Preserve "; and WHEREAS, the Agreement provided that the Developer was to set aside fifty (50) units designed to be affordable access units; and WHEREAS, on January 8, 2008 the parties entered into a First Amendment to Direct Incentive Funding Agreement which increased the eligibility threshold from 120% to 140% of Median Household Income as set by the United States Housing and Urban Development (HUD) for the year 2006; and WHEREAS, the present economy has caused significantly reduced demand for the purchase of units in the Project; and WHEREAS, the Developer has requested that the eligibility requirements for potential buyers be modified to include rental opportunities; and WHEREAS, the CRA intends to continue to provide incentive funding to the Developer for homeownership opportunities and to provide incentive funding for rental opportunities on the basis set forth herein. NOW THEREFORE, in consideration of the mutual covenants set forth herein and other lawful consideration, the Agreement is amended as follows: Section 2 is amended to insert the following paragraph after the paragraph entitled "Affordable Access Unit" and shall read as follows: "Affordable Access Rental Units" means not less than 100 units committed by the Developer (or its assigns) as affordable rental housing which shall be rented to individuals and families earning 60% or less of Median Household Income for Palm Beach County as set by the United States Housing and Urban Development ( "HUD "). Section 5.1.1 is amended to read as follows: 5.1.1. Developer agrees to set aside fifty (50) units designated as Affordable Access Units and at least 100 units as Affordable Access Rental Units. T: \DEVELOPMENT\The Presen e - Cornerstone\Preserve DWA\DIFA Second Amendment - 2010 (3) doc 1 Section 5.1.2 is amended to read as follows: 5.1.2. Developer agrees to reduce the price of the fifty (50) units designated as Affordable Access Units by Sixty Thousand and No /100 Dollars ($60,000.00) for the Cypress Model, Fifty Thousand and No /100 Dollars ($50,000.00) for the Palm Model, and Forty Thousand Dollars ($40,000.00) for the Banyan and Hibiscus Models (see attached Price List marked as Exhibit "C" which is attached hereto and made a part hereof) to buyers whose income does not exceed 140% of Median Household Income ( "MHI ") for Palm Beach Count) as set by the United States Housing and Urban Development ( "HUD ") for the year 2006. Developer also agrees to rent not less than 100 units at the rental rates outline on Exhibit C -1 (as may be increased from time to time b) HUD). Proof of income qualification for the Affordable Access Units and Affordable Access Rental Units shall be provided to the CRA prior to any disbursement of Pledged Project Increment Revenue. Examples of acceptable forms of proof include HUD closing statements executed by the buyer and seller; copies of two years of tax returns; and /or paycheck stubs for all adults in the buyer's family for the two weeks prior to closing including proof of family size. Section 5.2.2 is amended to read as follows, 5.2.2. With respect to the Affordable Access Unit component of the Program, the CPA must examine the qualifying income data for every purchaser identified as a qualifying purchaser pursuant to the Affordable Access Unit requirements and must certify, in writing, the eligibility of all such qualifying Purchasers under the Program. The written opinion must include verification of the number of residential units which are owned by qualified purchasers. Developer must provide all necessary documents to conduct the audit including, but not limited to, the executed deeds and closing statements. If requested, Developer shall also provide such information as may be requested regarding the Affordable Access Rental Units, Section 5.2.7 is amended to read as follows: 5.2.7. Exceeding the agreed upon requirements of the 50 Affordable Access Units or 100 Affordable Access Rental Units shall not entitle Developer to additional funding under this Agreement or to a credit or set -off against any reduction in funds due to failure to meet the other Affordable Access Requirements in earlier years hereunder. Section 6 is amended to read as follows: Section 6. Direct Incentive Funding. The direct incentive funding provided for under this Agreement is granted to Developer for the purpose of offsetting, in part, Developer's cost of creating one hundred fifty (150) affordable residential units. Section 6.1 is amended to read as follows: 6.1. Direct Incentive Fundine Formula and Term. The CRA hereb) agrees to direct fund, that is, to pledge and assign to Developer for a period of ten T \DEVELOPMENT\The Preserve . Corerstone\Preserve DIFA \DIFA Second Amendment - 2010 (3).doc <j (10) consecutive years, as provided herein and below, an annual amount which equals the Pledged Project Increment Revenues as set forth in subsection 6.1.C. herein less any amounts deducted pursuant to the terms of Section 5 above due to the failure of Developer to comply with the Affordable Access Requirements of this Agreement. A. The Pledged Project Increments Revenue shall be awarded pro rata based on the proportion of Affordable Access Units sold to eligible buyers and Affordable Access Rental Units rented to eligible tenants. For example, if ten (10) percent of Affordable Access Units are sold and /or rented in the first year which the Developer elects to receive the Project Increment Revenues, Developer (or its assigns) is entitled to 10% of the eligible Pledged Project Increments Revenue that year. If, the following year 100% of Affordable Access Units are sold and /or rented, Developer (or its assigns) is entitled to 100% of the Pledged Project Increments Revenues that year and in continuing years until the ten -year period has terminated. See Exhibit E attached hereto and made a part hereof for the estimated Pledged Project Increments Revenue Calculation for this Project. B. Developer shall have the option to postpone the first Pledged Project Increments Revenue disbursement to the following year at Developer's option with written notification provided to the CRA in advance of the disbursement. C. For the first through fifth disbursements of the Pledged Project Increments Revenue, the Developer shall be entitled to 75% of the Project Increment Revenues. For the sixth through tenth disbursements, the Developer shall be entitled to 25% of the Project Increment Revenues. Section 6.2 is amended to read as follows: 6.2. Commencement and Conditions of Funding. The ten (10) year term for each Phase for the receipt of Pledged Project Increments Revenue shall commence in the year that the following conditions are met: A. The Project is Substantially Complete; B. The completed improvements of each Phase have been placed on the Tax Roll; C. The CRA has determined that Project complies v<ith the commitments and with all of the terms and provisions of T \DEVELOPMENT\The Preserve - Comerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3).doc 3 this Agreement; D. All requirements as set forth within this Agreement have been complied with by Developer; and E. The CRA has received Project Increment Revenues from such improvements. However, this Agreement and the initial ten (10) year term for each Phase for the Receipt of Pledged Project Increments Revenue shall be automatically extended for an period of time equal to each year that funds are not disbursed to Developer by the CRA for reasons other than the failure of Developer to comply with the Affordable Access Requirements of this Agreement. Section 8.5 is amended to read as follows: 8.5. Notices and other Communications. Whenever it is provided herein that notice, demand, request, consent, approval or other communication shall or may be given to, or served upon, either of the parties b) the other (or any recognized mortgagee), or whenever either of the parties desires to give or serve upon the other any notice, demand, request, consent, approval or other communication with respect hereto or to the Project, each such notice, demand, request, consent, approval or other communication (referred to in this Section 9.4 as a "Notice ") shall be in writing (whether or not so indicated elsewhere in this Agreement) and shall be effective for any purpose only if given or served by (i) certified or registered United States Mail, postage prepaid, return receipt requested, (ii) personal delivery with a signed receipt or (iii) a recognized national courier service, addressed as follows: If to Boynton Village: Boynton Village, LLC c/o Cornerstone Group Development, LLC Attention: Leon Wolfe 2100 Hollywood Boulevard Hollywood, Florida 33020 With Copies to Michael Weiner, Esq. Weiner & Lynne, P.A 10 SE 1 Avenue Delray Beach, Florida 33444 If to CRA: Boynton Beach Community Redevelopment Agency Lisa Bright, Executive Director 915 South Federal Highway Boynton Beach, Florida 33435 T \DEVELOPMENT \The Preserve - Comerstone\Preserve DIFA \DIFA Second Amendment - 2010 (3).doc 4 With Copies to: James Cherof, Esq. Goren, Cherof, Doody & Ezrol 3099 E. Commercial Blvd. Suite 200 Ft. Lauderdale, FL 33308 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. SIGNATURES ON FOLLOWING PAGE T:IDEVI3LQPMENT\The Presen e - Cornerstone \Preserve DIFA1DIFA Second Amendment - 2010 (3).doc 5 WI ESSES BOYNT N VILLAGE, LLC rigor ' Print name: Print name: s _ m An .S Title: V , P Date: ° (A � V `1 ' b L� V Print name :- L R 2, BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY !/l 7 J 1 Print name: � Print n.. e: � - ' �3('�rl � U C�-- Ale: Chairperson Date: _ / __ Print name: fyf,e...46-c 7c-Z%-to T.\DEVELOPMENT1The Preserve - Comerstone \Preserve D1FA1D1FA Second Amendment - 2010 (3) doc 6 STATE OF FLORIDA • W p SS: COUNTY O BEFORE ME, an officer duly authorized b ; Wm' iste oa' s :4d take ack owled ents, personally appeared L% s PterrOf / /y j g7O� a /- f and acknowledged under oath that he /sale has exeeuted the foregoing Agreement as the proper official of , for the use and purposes mentioned herein and that the instrument is the act and deed of . He /she is personall ky nQWa. to me or has product as identification. IN WITNESS ►. T,NE FOREG • p . I hav k mi hand and official seal at in the State and County a or . aid on,this ,%ay of %C%/ - , 2008. t ,.FY Zie . * N 33 °a otary ' u ic, State of Florida at Large , 71 t2 �� ryx << My Commission Expires: STATE OF FLORIDA SS: COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take aft nowledgments, personally appeared 2 PUtir'1 4,4 as 1..t1Q1Y`ry ast of BOYNTON BEACH c CO REDEVELOPMENT AGENCY, and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, for the use and purposes mentioned herein and that the instrument is the act and Aeed of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. [(�k- /she q personally known to mep or has produced as identification. IN WITNESS OF THE FOREG• G, I ha ssetjmm hand and official seal at in the State and County aforesaid on this ! . ay of 1� v 2 02010 // / ,/ 14 �4 .i.1 .1.1 MR , otary Public, State o lorida at Large M) Commission Expires: : .. UTTENDACK of AMU Wit *elm el WIN An 11.2014 Cam #DD951135 r. = w.+anwwawno�iNonrrMu. T: \DEVELOPMENT\The Presene - Comerstone\Prescrve D!FAIDIFA Second Amendment - 2010 (3).doc 7 EXHIBIT "C -1" Rental Rate List' 2- Bedroom units: $924.00 /month 3- Bedroom units: $1,059.00 /month ' Rental Rates are subject to annual adjustment based upon HUD's annual release of incomes for Palm Beach County T \DEVELOPMENT\The Preserve - Cornerstone\Preserve DIFA \DIFA Second Amendment - 2010 (3) doc 8 Exhibit "E" Pledged Project Increments Revenue Formula Examples # of Affordable # of Affordable Access Access JRentall Units fRentall Units Sold Sold andlor Rented , % of Eligible TIF , andlor Rented , % of Eligible TIF 3 2% 78 52% 6 4% 81 54% 9 6% 84 56% 12 8% 87 58% 15 10% 90 60% 18 12% 93 62% 21 14% 96 64% 24 16% 99 66% 27 18% 102 68% 30 20% 105 70% 33 22% 108 72% 36 0 24 111 74% 39 26% 114 76% 42 28% 117 78% 45 30% 120 80% 48 32% 123 82% 51 34% 126 84% 54 36% 129 86% 57 38% 132 88% 60 40% 135 90% 63 42% 138 92% 66 44% 141 94% 69 46% 144 96% 72 48% 147 98% 75 50% 150 100% T:IDEVELOPMENT\The Preserve - Comerstone \Preserve DIFA\DIFA Second Amendment - 2010 (3).doc 9 BOYNTON c :M BEACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda 1 1 Old Business 1 X New Business 1 Legal 1 1 Executive Director's Report SUBJECT: Consideration of Request from Homebuyer Assistance Program (HAP) Grant Recipient Hector and Jennifer Lopez to accept the Terms of Short Sale Negotiations. SUMMARY: On November 14, 2007, the CRA Board approved a Homebuyer Assistance Program (HAP) Grant in the amount of $45,000 to Hector and Jennifer Lopez for the purchase of their home located at 1851 NE 5 Street #1507, in the Preserve and closed on their newly constructed home in January 2008 (see Attachment I). On April 19, 2012, the CRA was served with a Summons regarding the foreclosure Actions initiated by Wells Fargo as first mortgage holder (see Attachment II). At their December 13, 2011 meeting, the CRA Board approved a policy to pursue collection of indebtedness from foreclosed or defaulted HAP grant recipients until the obligation was paid in full (see Attachment III). On October 31, 2012, the CRA received a letter from Ms. Ellen Dorfman, Esq. on behalf of Mr. and Mrs. Lopez requesting the CRA Board to determine the viability of the financial terms of a short sale proposal to be presented to Wells Fargo Bank regarding the sale of their property (see Attachment IV). Ms. Dorfman has not finalized the terms of the short sale or received bank approval but makes the assumption that the bank would offer $6,000 to each of the junior lien holders. The conditions of the short sale offer being presented is as follows: Original Purchase Price: $239,990 Current Short Sale Offer: $ 85,000 First Mortgage: $168,000 SHIP 2" Mortgage: $ 30,500 CRA Third Mortgage: $ 45,000 ADDITIONAL BACKGROUND: In December 2006, the developers of The Preserve, Boynton Village, LLC, received approval from the CRA Board to enter into a Direct Incentive Funding Agreement (DIFA) for the creation of 50 affordable housing opportunities. Under the Second Amendment to the DIFA approved by the CRA Board on October 12, 2010, the Agreement was amended to allow at least 100 units be designated as Affordable Access Rental Units for households earning 60% of median income or less despite out spoken objections by HAP grant recipients and other Preserve residents at both the CRA and City Commission meetings (see Attachment V). As a result of the nationwide Chinese Drywall epidemic, many of the units at the Preserve were built with the drywall and were subject to mitigation measures. HAP grant recipients occupied the majority of these affected units. In addition to the CRA's financial obligations set forth under the terms of the DIFA, the Agency has provided $945,000 in CRA HAP grant funding to nineteen (19) income eligible recipients for the purchase of these affordable units in the Preserve. Eleven of these grant recipients are in various stages of the foreclosure process. FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Heart of Boynton Plan ZECOMMENDATjONS /OPTIONS: Provide staff direction. Michael Simon, Development Director T \AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \HAP Lopez reqst for short sale terms doc ATTACHMENT I AS, A. Settlement Statement U.S. Department of Housing 1 r and Urban Develeptnerd OMB Apprpvd No. 2502 0285 . (mrpi ee 11/30/2009) B. Type of Loan 1 ❑ FHA 20 RHS 3.® Cony, Wins. 6 File Number T. Loan Number j 8. Mortgage Insurance Case Number 4.0 VA 5.0 Com. Ins. 4136x81 0073623742 1 C. Note This form Is furnished 1D glve you a statement of aChmi settlement costs. Amounts paid to and by the sel8ement agent are shown. Items rnarked'(p.o.0.r were paid outside the doping, they are shown here for Infamiarion purposes and are not Included In the totals. D. Name and Address of Borrower E. Name and Address Of Seger F. Name and Address of Lender HECTOR 0. LOPEZ BOYNTON VILLAGE, LLC., A FLORIDA LIMITED WELLS FARGO BANK, N.A. 1851 NE 5TH STREET LIABILITY COMPANY 11401 SW 40 ST #401 BOYNTON BEACH, FLORIDA 33435 2121 PONCE DE LEON BLVD PH MIAMI. FL 33165 CORAL GABLES FL { G. Property Location H. Settlement Agent 1851 NE 5TH STREET #1507 TRANSSTATE TITLE INSURANCE CORP. BOYNTON BEACH, FLORIDA 33435 Place of Settlement I. Settlement Date ONE PARK PLACE 621 NW 53 ST #240 01/17108 BOCA RATON, FLORIDA 33487 J. SUMMARY OF BORROWER'S TRANSACTION: K SUMMARY OF SELLER'S TRANSACTION: w 100. GROSS AMOUNT DUE FROM BORROWER 400. GROSS AMOUNT DUE TO SELLER 101. Contract sales price 239,990.00 401. Contract sales pike 239,990.00 102. Personal property 402. Personal property 103. Settlement chases to bonowerpine 1400) 6,458.19 403. 104.135% OEVELOPERS FEE 4.199.53 404.1.75% DEVELOPERS FEE 4.199 63 105. 405 Adjustments for items paid by seller in advance Adiusbr4ents for Items fetid by sailer In advance 108. City/town taxes to 406. City/am texas to 1107. Cooly taxes to 407. County Imes to 108. Assessments to 408 Assessments to 100. TWO MONTHS WORKING CAPITAL TO MASTER 500.25 409. 110. TWO MONTHS WORKING CAPITAL Tr • DO 492 410. 111. CONDO MAINT_01/17/2008 TO 02/28/06 385 411. 112. MASTER MAIN/ 0t/17/2008 TO 02/28/08 371.16 412. 120. GROSS AMOUNT DUE FROM BORROWER 251,527.71 420. GROSS AMOUNT DUE TO SELLER 244189.53 200. AMOUNTS PAIO BY OR IN BEHALF OF BORROWER 500. REDUCTIONS IN AMOUNT TO SELLER 201. Depositor tamest money 7. 200.00 501. Excess Deposit (see Instructions) 202. Prhudpal amount of new loan(s) 1:: , , , .00 502. Settlement . : • • to staler pine 1400) 14 615.03 203. Existing bards) taken subject to 504. P R,00 loan(s) taken subject to 204. 504. Payoff' of first mortgage ban an CrTY NATIONAL 205. CRY OF 19OYNTON BEACH SHIPP *500.00 505. " &second loan 205. BOYNTON BEACH CRA 45,000.00 508. 207. 50T. 208. 508. 209. CREDIT PAID BY LENDER 800.00 600. lbr ltatns seller • . 210. CItvdovat less to ® 810. addt0wrt two to m 211. Ca taww 01/01 to 01/11 51 .. . ,. taxes 01 11 to 01/17 27.71 b - 512ASaataman: to 213. 214. � 216. 218. 217. „ 216 ,� ,;: • , 93 219. 1 ID • •' T001/1612005 �.t1S••12.46 220.7 _ PA BY • u•.:1 =� , REDUCTION ,,, • 300. CASH AT SETTLEMENT FROM OR TO BORROWER 600. CAIN AT SETTLpI@fr TO OR FROM SELLER 301. Goss amount due from borrower (One 1208 261. 627,71 601. Gross amount due b seller tine 4201 ;,188.53 302. l see amounts paid bWbr bonswsr (ine'220) 251427.71 802. Less reduction amount due to ardor fine 620) 210,512.46 303. CASH FROM BORROWER ` 8 03 1 TO SELLER 33,67101 x11146 VENTVETAXnaeWF5MIENTHE R mac U�T YEAR IBn458VE8 THE A8f 1' are - tnATssalusE1wF$t1n9g9.VES. 1HIS 18 WOMAN/ TAX a4P0RUTATION AND 18 BEING FURNISHED TO Tie YRORNAL REVENUE SERVICE CetRl. IF MIS ARE mmumm m nLeA RETURN, A mowers= PS NALTYOR OTHER SANCTION PAW BE IMPOSEV ON YOU IF 1168 *4ODME MURMUR AND me IR6 DEIERsarEMTHAT R HAS NOT REHiREPORr®. • 01 172008 at 6:12 AM tam HJO (3/861m1 Handbook 43051 It'd L0 :0t 8002 LI U C _ ____-'_-__~�_ 700 TOTAL wmLESxmRmmEWm COMMISSION based "" Moe v 239@90.00 0_ ' n-amm_ , SORAOWERI Division mmnmn*,gn (One mmumfollows SETTLEMENT SETTLE/ENT nn. m _ 1 1.099.00 to FIND IT REALTY _ 702. m to _ ___ nam"mm=10" paid m Settlement ' ,^�x� 704 __ _ 800. ITEMS PAYABLE IN CONNECTION WITH uuAN _ _ _ __ _ P.O.C. _ 801. Loan Odginijon Fa _ %__ _ _ _ 502. Loan Discount % _ ___ __ _ 803 ����*m �� _ _ ' 804. cmmna�� yo _ '-_ -_--- ' - ` 805_ Lender's Inspection m° _-_ u� -- 806. Mtg. Ins. Anptl*ativ Fee 41 ___ _ m« mwo»mwnam - o� _- _ _ _ _ - 808 APPLICATION FEE WELLS pmRGo HOME mYG -__ 'u05.0915i 'cgs- 809 FINAL INSPECTIONS RELS /oouo. 812 FLOOD ueRT LIFE OF LOAN W.F.F.S `6,w 811 PROCESSING FEE WELLS awRGn HOME Mro _ . _���� 81z TAX asnxocsFEE W . p e . Esru _______ _ 78.00 813. UNDERWRITING FEE _ WELLS FARGn HOME mnm _ _______ _ .. :�oo �� � -_- .._ '' | mm osMon�mum�'mraNDearoosrmuw^nw�rs __ 901 1nter°et from mnmm to uommo Am_ 31 07000 /day 1 5 uay*1 _^�o5 902. Mortgage insurance rmMIoM io 903 Hazard insuranmPrembirn yrs.* ____ --- _ 904 _______ _____ _____ _ _ ___ 1:1000. RE$ERVES DEPOSITED WITH L6NDER FOR 1001 Hazard Insurance / mo. __ _ 1002. mu*pape /"wwnte n10. QS _ 1 ma. 1 ''-_- OS 11003. m*oxwo� 5 m" __ 266.67 /"o _ __. __ 1,333 357_ 1004. County property taxes mu mw ' MO, i 1005 Annual Assessments m"0:4 /mu _ � »� ma. mS �� ------ - 1007 m" mm 1 mo ���T mv ^�"w"�C"m�m,*u�nm��m�c*��o*�wna�,m"�°=mu&�"w^amm==�w . 1100, TITLE CHARGES _ 71m. nmumnent= closing m* m TRANS-STATE TITLE INSURANCE CORP. _ 350.0o: ,`o2. Abstract m tile search to omp'TRwCenST , 2��� / 1`m Title examination ta_ _ 1104. 11 in5uince binder m __ _ __ ___._ /1xu Document preparation to _ _ ____ ______ ___ T _ /xa wvm��� to --- ' - ------' � -- 11107 mu3rxwesmw to 1- ( (includes l - ' '--- 1 110 mmmomance to TRANS-STATE TITLE INSURANCE o"np. _ _ 250.001 Z��� (includes above item No: -__ L _-_ _ 11109. Lender's coverage o54.wm/m-u50uo Ind 25»o Risk pre" i,11u Owner's coverage z39,oe0.00-rmem Ind 1,280'mRbwPram ______ '11,, ru9:8.* ,swomRSewemnSronsrpIRar^wonoAWnor 223.00 _ _ 1112 ,u*11.1p ENDORSEMENT FOR nwIPnRSTmwaR/Cwmsr _,_ __ 223.00 __ 1113. nIts POLICY FOR omppusRP rmmxwmmu*mTSr ...L. _- - 58.68 1 ___ __ __ 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. �� �m `um :��m 329 30 .��m 27.60 3 ��_ 45.70 1202.owmom*wwtemPs Deed $ .mm*mgem _� ___- � ___ 1203 mtat°tixostamnw Deed $ ,xm«o ; Mortgage w ooum 852.24 , *�u� 1204 Intangible r= Deed ;Mortgage m 42E1.00 _L____ 426a0 1205. mow4D AFF �27w0 1 1300 ADDITIONAL SETTLEMENT CHARGES 1301, Survey to _1 1302.pestomvwodem to _-- l --------� |^aw TRANS-STATE TITLE INSURANCE nuwp 4_ 100.00 1`304. uxnwnmmFJTnr � 35 00 11305. WIRE TRANSFER FEE sumnRUST 35a0 1306. SON PATRIOT ACT NAME SEARCH u^mTn^oEITSr i1m�uo�uu�wGes nww�mnwEnr��muewwE Cnnp __ 425.00 _ 1308. = , TRANS-STATE TITLE / ; __ _ 50 ____ , *mmu ! ha* ^^=_ W °"~ A tagik, The ,, UWI Negien*.i Ememere `Ate 1 tem. Presead Is 0 true snd actuate Omura P Sus hanssollon 1 eau. caused or stil cause edir • , d , • • 111 0 - • • deo ewers TRAM-STATE 77n.E INSURANCE CORP 31/17/011 i ' \ i / X����� �X����°==� �e~=°�� °°~�*=��"~~=,"="°�=�~ , ==~°�w- '�--^��-� - `~°^�*="��`"uu�� m�r��mw,cmw ---- ---- form Ht..113-1 (3/881 ref xmnehenie &Inc. BOYN'rON BEACH COMMUNITY REDEVELOPMENT AGENCY HOMEBUYERS ASSISTANCE PROGRAM AMENDED AND RESTATED PROMISSORY NOTE 345,000.00 Boynton Rench,.Florida February , 2008 FOR. VALUE RECEIVED, Hector G. Loper. (the "Borrower"), promises to pay to the order of the Boynton Beach Community Redevelopment Agency, a Florida public body corporate and politic created pursuant to Section 163.356 FS., (the "Lender "), whose address is 915 South Federal Highway, Boynton Beach, Florida 33415, or such other place as the holder of this Amended and Restated Promissory Note (tits "Amended Note ") may designate, the principal sum of FORTY FIVE THOUSAND AND 001100 ($45,000.00) DOLLARS, together with interest thereon at a rate specified in Section 2 hereof. Principal plus interest 811811 be payable at the limo sot herein and in =continue with the other provisions of Section 2 of this Amended Note. Section 1. Security. Section 1.1 This Amended Not serves to amend and restate that certain Promissory Note in the face amount of Forty Five Thousand and 00 /100 ($45,000.00) Dollars dated January 17, 2008 issued inndvettentiy by Borrower to the City of Boynton Beach as lender (the "Original Note ") instead of the Boynton Beach Community Redevelopment Agency, the actual Lender, for the exclusive purpose of providing financing to purchase an existing single family residential unit which the undersigned occupies as his principal residence. Section 1.2 'Nis Amended Note is secured by, among other securities, that certain Third Mortgage on the real property located at 1851 NT 5 Street, Boynton Beach, Honda (the "Property ") from Borrower to the Boynton Beach Community Redevelopment Agency in the principal amount of $45,000 dated January 17, 2008 and recorded in Official Records Book , Page of the Public Records of Palm Beach County, Florida (the "Original Mortgage "); by a Modification of Mortgage and Note Agreement of even date and by all other Instruments, documents, and agreements which secure, evidence and otherwise relate to the indebtedness and the loan from the Lender to Bornowcrunder the Original Mortgage are herein collectively referred to as "Loan Documents." Section 2. Payment of Interest and Principal. Section 2.1 In accordnnce with the terms and provisions of the Original Note and the Amended Note, Borrower does hereby acknowledge a total indebtedness due to Lender in the amount of Forty Five Thousand Dollars ($45,000.00) as of the date of this instrument, Section 2.2 Borrower acknowledges and reaffirms that the Lender is the Boynton Beach Community Redevelopment Agency not the City of Boynton Beach- and restates the teens of the Original Note as follows: 2.2.1 This is a deferred payment loan issued under the guidelines of the Homebuyer Assistance Program Agreement (the "Agreement"). Page 1 of 5 2.2.2 Borrower shall occupy the Property as his principal residence and, in the event the Property is leased, sub - leased or otherwise devised or assigned to any person or entity during the teen of this Mortgage, then the principal shall become due and payable in full together with interest at four percent (4 %) per annum calculated from the time of purchase of the Property. 2,2.3 Upon the sale of' the property, within the first five (5) years of ownership, Borrower shall pay eighty percent (R0%) of the equity is the property (as determined by a fair market value appraisal) to Lender. During years six (6) through twenty (20) of ownership, Borrower shall pay filly percent (50%) of the equity in the Property to Lender. During years twenty -one (21) through thirty (30), Borrower shall pay fifteen percent (15%) of the equity in the Property to Lender 2.2.4 In the event of a voluntary sale or foreclosure, Borrower shall provide notice of same to Lender who shall have the right of first refusal to purchase the Property from the Borrower for the fair market value of the Property as determined by a current certified appraisal. Lender shall have forty -five (45) days from the date of receipt of intent to sell with a copy of the proposed contract to determine whether to exercise its right to purchase hereunder by sending written notice to the Burrower (it being understood that Lender's purchase price shall he the lesser of that set forth in said appraisal or proposed contract). Such notice shall reserve thirty (30) additional days for Lender to complete all necessary preparations and close. 2.2.5 Borrower elects to refinance the Property, Borrower shall repay the entire principal balance in Rill to Lender, together with interest at four (4%) per annum calculated from the time of purchase. 2.2.6 Borrower shall perform, comply with and abide by each and every agreement, stipulation, condition and covenant in this Amended Note, the mortgage and the Hornebuycr Assistance Program Agreement executed by Borrower simultaneously herein, 2,2.7 In the event, any sum or money herein referred is not promptly paid within thirty (30) days after the same becomes due, or if each and every agreement, stipulation, condition and covenant of said Agreement, Note and the mortgage, are not fully performed, complied with and abided by, then the entire sum unpaid thereon, shall forthwith or thereafter, at the option of the Lender, become and be due and payable, anything in said Note or herein to the contrary notwithstanding. Failure by the Lender to exercise any of the rights or options herein provided shalt not constitute a waiver of any rights or options under said Note or the mortgage accrued or thereafter uccruing. Section 2.3 Interest shall be computed on the basis of a 365 day year for the actual number of days the principal is outstanding. Section 2.4 From and after the date of maturity of this Amended Note or by acceleration of the date of maturity upon default, the principal outstanding hereunder, together with accrued or Page 2 of 5 unpaid interest and all other sums payable hereunder. shall bear interest at the highest rate allowed by law on an annual basis. Section 2.5 All payments of principal and interest shall bc made in lawful money of the United States of America which shall be legal tender and payment of all debts, public and private at tho time of payment. Section 2.6 Except as otherwise provided herein, this Amended Note may be prepaid in whole or in part, without penalty. Partial payments shall be applied first to accrued and unpaid interest and then to principal, but shall not relieve Borrower of its obligation to make monthly payments hereunder. Section 3. fl .ff u1t: Acceleration. Section 3.1 Tt is hereby agreed that if any payment of principal or interest or any installment thereof, is not made within thirty (30) days of the due date as above provided; or in the event default bc made in the performance or compliance with any of the covenants and conditions of any security agreement now or hereafter in effect securing payment of this Amended Note; or upon any delimit in the payment of any sum due by Borrower to Lender under any other promissory note, security instrument or other written obligation of any kind now existing or hereafter created; or upon the insolvency, bankruptcy or dissolution of the Borrower hereof; then, in any and all such events, the entire amount of principal of this Amended Note with all interest then accrued, shall, at the option of the holder of this Amended Note and without notice (the Borrower expressly waives notice of such default), become and bc due and collectible, time being of the essence of this Amended Note. if this Amended Note shall not be paid at maturity or according to the tenor thereof and strictly as above provided, it may be placed in the hands of any attorney at law for collection, and in that event, each party liable firs the payment thereof, as Borrower, endorser, or otherwise, hereby agrees to pay the holder hereof, in addition to the sums above stated, a reasonable sum as an attorneys fee, which shall include attorneys fees at the trial level and on appeal, together with uil reasonable costs incurred. After maturity or default, this Amended Note shall bear interest at the highest rate permitted under then applicable law. Section 3.2 Provided the Lender has not exercised its right to accelerate this Amcndcd Note as hereinabove provided, in the event any required payment on this Amended Note as hereinabove provided, in the event any required payment on this Amended Note is not received by Lender within fifteen (15) days alter said payment is due, flonmwer shall pay Lender x late charge of ftvc percent (5 %) of the payment not so received, the parties agreeing that said charge is a fair and reasonable charge for the late payment and shall not be deemed a penalty. Suction 4. M is ellaue us, Section 4.1 All parties to this Amended Note, including Borrower, endorsers, or guarantors, hereby waive presentation for payment, demand, protest, notice of dishonor, notice of acceleration of maturity, and all defenses on the ground of extension of time for the payment hereof unless agreed to in writing by Lender, and agree to continue and remain hound for the payment of botlt principal, interest and all other sutras payable hereunder, notwithstanding any change or changes by way of release, surrender, exchange or substitution of any security for this Amended Note or by way of extension or extensions of time for the payment of principal and interest; and all such parties Page 3 of 5 waive all and every kind of notice of such change or changes and agree that the sarnc might be made without notice to or consent of any of than. The rights and remedies of the holder as provided herein on the Loan Documents shall be cumulative and concurrent and may be pursued singularly, successively or together, at the sole discretion of the holder and may be exercised as often as oceasiun theretbre shall occur, and the failure to exercise any such right or remedy shall in no event he construed as a waiver or release of the same. Section 4.2 Nothing herein contained, or any transaction related hereto shall be construed or so operate so as to require thc Bonnwcr, or any party liable for payment of this Amended Note, to pay interest at a greater rate than thc maximum allowed by applicable law. Should any interests or other charges paid or payable by the Borrower, or any party liable for the payment of this Amended Note, in connection with this Amended Note or any other document delivered in connection herewith, result in the computation or earning of interest in excess of the maximum allowed by applicable taw, then any and all such excess shall be in the same is hereby waived by the Lender or then holder hereof, and any and all such excess paid shall be automatically credited against and in reduction of the principal balance duo under this Amended Note, and a portion of such excess which exceeds the principal balance duo under this Amended Note shall be paid by the Lender or then holder hereof to the Borrower and parties liable for the payment of this Amended Note. Section. 4.3 All notices, demands and other communications from 1 .ender to Borrower which are permitted or required under this Amended Note shall be in writing and shall be personally delivered or sent by certified or registered United Stales Mail, Return Receipt Requested, Postage prepaid addressed to Borrower at 1851 NB 3 Street, Boynton Beach, Florida 33435 or at such other address as Botzower may designate by written notice of change of address delivered to Lander in accordance with the provisions of the mortgage securing this Amended Note. All such notices or other communications shall be deemed to have been given on the day of the personal delivery or the day of mailing, as the case may be. Section 4.4 As used herein, the terms "Borrower" and "Lender" shall be deemed to include their respective successors, legal - representatives and assigns, whether by voluntary action of the parties or by operation of law. In the event that mom than ono person or entity is a Borrower hereunder, than all references to "Borrower" shall be deemed to refer equally to each of said persons or entities, all of wltonr shall be jointly and severally liable for all of tie obligations of Borrower hereunder. Section 4.5 If this Amended Note is placed in the hands of any attorney at law for collection, Borrower hereby agrees to pay the holder hereof in addition to the sums above stated, all costs of collection, includingreasonahle attorney's fees and other legal costs Section 4.6 Time shall be of the essence with respect to this Amended Note. Section 4,7 This Amended Note shah be governed by and construed in accordance with the laws of the State of Florida. Section 4.8 Paragraph headings appearing in this Amended Note are for convenient reference only and shall not be used to interpret or lirnit the meaning of any provisions of this Amended Note. Page 4 of 5 Section 4.9 If any provision of this Amended Note shall be determined by any court of competent jurisdiction to be illegal or unenforceable, then that provision only shall be of no force and effect and shall be deemed exercised heref om, and the remainder of the provisions of this Amended Note shall be enforced. Section 4.10 Borrower horeby formally waives .his right to a jury trial in the event that any legal action is commenced - with respect to the enforceability of this Amended Note. BORROWER: —....=7_,/ - , -/ t _... Hector G. Lopez H:1200070473 i3 BACRA HAIMmended & Restated Noe - Lopez doc Pnge 5 of 5 teturn To. Lisa A. Bright Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33405 561- 737 -3256 Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program Agreement In order to further its goal of creating affordable housing opportunities, the Boynton Beach Community Redevelopment Agency (Grantor) hereby grants financial assistance in the amount of $45,000.00 pursuant to its Homebuyer Assistance Program (Program) to HECTOR G. LOPEZ(Grantee /s) to purchase real property described as: Unit 1507, of THE PRESERVE AT BOYNTON BEACH 15, a Condominium, according to the Declaration of Condominium thereof, as recorded in Official Records Book 22258, Page 1033, of the Public Records of Palm Beach County, Florida, as amended and /or supplemented, from time to time; together with an undivided interest in the common elements appurtenant thereto. In exchange for the funding the Grantee /s understand and agree to the following terms and conditions. It is further understood by recipient that a lien shall be placed on the real property described above. 1. Grantee /s state that all information submitted to the Grantor in order for the Grantor to determine eligibility for the program is true and correct 2. Grantee's hereby state that the purchase price of the Property does not exceed $280,000. 3 Grantee /s hereby state that the amount of Program funding is not more than 50% of the cost of the Property, 4. Grantee /s hereby state that they have not owned a residence within the last three years prior to the purchase of the Property. 5. Grantee /s state that they understand that the grant amount will be secured by a second or third mortgage on the Property. a. The mortgage interest rate shall be 0% unless any of the following occur: The property is no longer occupied by the Grantee as their full time residence; ii. The grantee secures a line of credit, equity loan, etc secured by the Property without the written consent of Grantor. iii. The property is leased Page 2 of 2 b. In the event that the Grantee /s sells the property to a non - income qualified buyer (a family whose income exceeds 120% of median household income for Palm Beach County), leases the property, refinances the property or does not reside in the property as their full -time residence, the full sum of the Grant plus interest of 4% annum from the date of this agreement shall be due and payable. 6. Grantee /s state that they understand that upon the sale of the property within the first five (5) years of ownership, the Grantee /s must pay eighty percent (80 %) of the equity (determined by a fair market appraisal) to the Grantor. During years six (6) through twenty (20), fifty percent (50 %) of the equity shall be payable to the CRA. During years twenty -one (21) through thirty (30), fifteen percent (15 %) of the equity is payable to the CRA. The Grantor's share of equity is due at closing. 7. The Grantor reserves the right of first refusal to purchase the Property at the fair market appraised value. Grantee must notify Grantor in writing of their intent to sell. The Grantor shall have 45 days from the date of receipt of intent to sell, to exercise the right to purchase. Grantor shall notify Grantee in writing of the decision. 8. Grantee acknowledges that it has received a Loan Assistance Note and Mortgage of even date with this Agreement and is familiar with, understands and accepts the terms and conditions contained therein as well as the terms and conditions contained in this Agreement. For Grantor: For Grantee /s: Boynton Beach Community Rede loprnent Agency 1 , r /r Executive Dire `to • Signature Lisa A. Bright Date: HECTOR G. LOPEZ Date: • Pro Vest IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT' OF FLORIDA, IN AND FOR PALM BEACH COUNTY Wells Fargo Bank, NA Case a 2012CA 00 7 016 4XX Plaintiff, � „� -.® Hector G. Lopez a/k/a Hector Lopez; et al. CIVIL ACTION SUMMONS IMPORTANTE (En Espanol Al Dorso) a r • •••.,, Defendants . IMPORTANT (Francais Au Verse) t > rtr nri SUMMONS �►rc►T THE STATE OF FLORIDA x To Each Sheriff of Said State: YOU ARE HEREBY COMMANDED to serve this summons and a copy of the complaint or petition in this action on defendant(s): BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY C/O PRESIDENT/VICE PRESIDENT /CHAIRMAN Each defendant is required to serve written defenses to the complaint or petition on Plaintiffs attomey, to wit: SHAPIRO, FISHMAN & GACHE, LLP whose address is: 2424 North Federal Highway Suite 360 Boca Raton, Florida 33431 (561) 998 -6700 Within 20 days after service of this summons on that defendant, exclusive of the date of service, and to file the original of the defenses with the clerk of this Court either before service on Plaintiffs attorney or inunediately thereafter. If a defendant fails to do so, a default will be entered against that defendant for the relief demanded in the complaint or petition. FANNIE.mAE TO: THE ABOVE NAMED DEFENDANT(S) AND ALL OTHERS WHOM IT MAY CONCERN: YOU ARE HEREBY NOTIFIED that suit was instituted by the above -named Plaintiff against the above -named Defendant(s), in the above styled cause, involving the following described property, situated, lying and being in Palm Beach County, Florida, to -wit: UNIT 1507, OF THE PRESERVE AT BOYNTON BEACH 15, A CONDOMINIUM, ACCORDING TO THE DECLARATION OF CONDOMINIUM THEREOF, AS RECORDED IN OFFICIAL RECORDS BOOK 22258, PAGE 1033, OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, AS AMENDED AND /OR SUPPLEMENTED, FROM TIME TO TIME; TOGETHER WITH AN UNDIVIDED INTEREST IN THE COMMON ELEMENTS APPURTENANT THERETO. Relief sought as to such property is for foreclosure of mortgage held by Plaintiff against the premises and recorded in Official Records Book 22443, Page 037 of the Public Records of Palm Beach County, Florida. YOU will, therefore, please govern yourselves accordingly. DATED: if (Q ,21312 SHAPIRO, FISHMAN & GACHE, LLP Attorneys for Plaintiff 2424 North Federal Highway Suite 360 Boca Raton, Florida 33431 Telephone: (561) 998 -6700 Fax: (561) 998 -6707 By: A ,( kBenjamin Werber, Esq. FL Bar # 92137 l 1 - 224901 FCO I S r l 'r"�' =� r '�.`'`„ -' . :.st L . t'' IN THE CIRCUIT COURT OF THE 15th JUDICIAL CIRCUIT OF FLORIDA, IN AND FOR PALM BEACH COUNTY Wells Fargo Bank, NA Plaintiff, 50 2012 CA 0 0 7 016 XXXX NB Case #: -vs.- Division #. Hector G. Lopez a/k/a Hector Lopez; Jennifer Mullins- Lopez, The City of Boynton Beach, 4 W Florida; Boynton Beach Community Redevelopment Agency; The Preserve At Boynton Beach 15 Condominium Association, COPY Inc.; The Preserve At Boynton Beach Maintenance Association, Inc.; Unknown i RECEIVED FOR FILING Tenants in Possession #1, If living, and all A 2ti1 Unknown Parties claiming by, through, under and against the above named Defendant(s) who SHARON R. BOCK are not known to be dead or alive, whether said CLERK & COMPTROLLER Unknown Parties may claim an interest as CIRCUIT CIVIL DIVISION Spouse, Heirs, Devisees, Grantees, or Other Claimants; Unknown Tenants in Possession #2, If living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants Defendant(s). !� VERIFIED COMPLAINT TO FORECLOSE MORTGAGE Plaintiff, Wells Fargo Bank, NA sues the Defendants and states: 1 This is an action to foreclose a mortgage on real property located in Palm Beach County, Florida, and by reason thereof the venue for this matter is in Palm Beach County, Florida ATTACHMENT II 416 Alb ProVest IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT OF FLORIDA, IN AND FOR PALM BEACH COUNTY Wells Fargo Bank, NA Case o 2012 CA 00701 6 xXMB i Plaint ff, '`6' �w � A hht A+ Hector G. Lopez a/k/a Hector Lopez; et al. CIV1J., ACTION SUMMONS fir^ ^° IMPORTANTE (En Espanol Al Dorso) �...,, IMPORTANT (Francais Au Verse) on (F5 Defendant(s). m cz 5 ' ' v — ACtx: Z +' • SUMMONS w mr: w THE STATE OF FLORIDA To Each Sheriff of Said State: YOU ARE HEREBY COMMANDED to serve this summons and a copy of the complaint or petition in this action on defendant(s): BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY C/O PRESIDENT/VICE PRESIDENT /CHAIRMAN -914SQIMLEEDEEALHIGUWAZ— 71_1(c- 1\100-1-, eot,e4. Each defendant is required to serve written defenses to the complaint or petition on Plaintiffs attorney, to wit: SHAPIRO, FISHMAN & GACHE, LLP whose address is: 2424 North Federal Highway Suite 360 Boca Raton, Florida 33431 (561) 998 -6700 Within 20 days after service of this summons on that defendant, exclusive of the date of service, and to file the original of the defenses with the clerk of this Court either before service on Plaintiffs attorney or inunediately thereafter. If a defendant fails to do so, a default will be entered against that defendant for the relief demanded in the complaint or petition. FANNIE.mAE • APB DATED ON 1 nu _ , 2012 t“ ,• z- 4 ' ON R. BOCK 1 �, . , Jerk of said Court r 1 ^ y y 1 p utt' er • 4 V Ulti a$ LA PS 11- 2 24901 { r � �'' 'C r ,i i :- N A. . This notice is provided pursuant to Administrative Order No. 2.031 -1/08 If you are a person with a disability who needs any accommodation in order to participate in this proceeding, you are entitled, at no cost to you, to the provision of certain assistance. Please contact Dominique T. March, ADA Coordinator, in the Administrative Office of the Court, Palm Beach County Courthouse, 205 North Dixie Highway, Room 5.2500, West Palm Beach, Florida 33401; telephone number (561) 355 -4380 within two (2) working days of your receipt of this Summons; if you are hearing or voice impaired, call 1- 800- 955 -8770. SPANISH Si usted es una persona con una discapacidad que requiere alojamiento para participar en este procedimiento, tiene derecho, sin costo pare usted, para la prestacion de determinados asistencia. Pongase en contacto con Dominique T. March, Coordinadora de ADA, en la Oficina Administrativa de la Corte, de Palm Beach County Courthouse, 205 North Dixie Highway, Sala 5.2500, West Palm Beach, Florida 33401, telefono (561) 355 -4380 dentro de los dos (2) de trabajo dfas de su recibo de la presente convocatoria, si usted tiene problemas auditivos o impedimentos de voz, flame al 1-800-955-8770. CREOLE Si ou se yon moun ki Infim, ki bezwen nin pot akomodasyon pou ka patisipe nan pwose sa -a, ou gen dwa, sank pa koute'w anyin, pou yo ba'w kek sevis. Tanpri kontakte Dominique T. March ko6dinate ADA ya nan Biro Administratif Tribinal nan cite Palm Beach la, kin an 205 North Dixie Highway Cham 5.2500, West Palm Beach, Florida 33401, nimbro telefonn -nan 50 2012 CA 00 7 r) I YYXX M� space above reserved for recording information IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIDA CIVIL DIVISION Wells Fargo Bank, NA Plaintiff, Case #- -vs.- Hector G. Lopez a/k/a Hector Lopez; Jennifer COPY Mullins - Lopez; The City of Boynton Beach, RECEIVED FOR FILING Florida; Boynton Beach Community ' Redevelopment Agency; The Preserve At , APR 1 1 2012 Boynton Beach 15 Condominium Association, Inc.; The Preserve At Boynton Beach SHARON R. BOCK Maintenance Association, Inc.; Unknown ; CLERK C &C4MP CIRCIRCUIT T CIVIL DIVISION Tenants in Possession #1, If living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimant3; Unknown Tenants in Possession #2, If living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants Defendant(s). t NOTICE OF LIS PENDENS TO: THE ABOVE NAMED DEFENDANT(S) AND ALL OTHERS WHOM IT MAY CONCERN: YOU ARE HEREBY NOTIFIED that suit was instituted by the above -named Plaintiff against the above -named Defendant(s), in the above styled cause, involving the following described property, situated, lying and being in Palm Beach County, Florida, to -wit: UNIT 1507, OF THE PRESERVE AT BOYNTON BEACH 15, A CONDOMINIUM, ACCORDING TO THE DECLARATION OF CONDOMINIUM THEREOF, AS RECORDED IN OFFICIAL RECORDS BOOK 22258, PAGE 1033, OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, AS AMENDED AND /OR SUPPLEMENTED, FROM TIME TO TIME; TOGETHER WITH AN UNDIVIDED INTEREST IN THE COMMON ELEMENTS APPURTENANT THERETO. Relief sought as to such property is for foreclosure of mortgage held by Plaintiff against the premises and recorded in Official Records Book 22443, Page 037 of the Public Records of Palm Beach County, Florida. YOU will, therefore, please govern yourselves accordingly. DATED: / (.0 , 2012 SHAPIRO, FISHMAN & GACHE, LLP Attorneys for Plaintiff 2424 North Federal Highway Suite 360 Boca Raton, Florida 33431 Telephone: (561) 998-6700 Fax: (561) 998 -6707 By: / 1----- ..Benjamin Werber, Esq. FL Bar #92137 11-224901 FCO 1 ,r ,ar * r2•��'" •• ✓ FL Ig7 ' A M( ir IN THE CIRCUIT COURT OF THE 15th JUDICIAL CIRCUIT OF FLORIDA, IN AND FOR PALM BEACH COUNTY Wells Fargo Bank, NA Plaintiff, 50 2012 CA 0 0 7 016 XXXX NB Case #: -vs.- Division IP Hector G. Lopez a/k/a Hector Lopez; Jennifer Mullins- Lopez; The City of Boynton Beach, AW Florida; Boynton Beach Community Redevelopment Agency; The Preserve At Boynton Beach 15 Condominium Association, COP Inc.; The Preserve At Boynton Beach Maintenance Association, Inc.; Unknown RECEIVED FOR FILING Tenants in Possession #1, If living, and all APR 1 2012 Unknown Parties claiming by, through, under and against the above named Defendant(s) who SHARON R. BOCK are not known to be dead or alive, whether said CLERK & COMPTROLLER Unknown Parties may claim an interest as CIRCUIT CIVIL DIVISION Spouse, Heirs, Devisees, Grantees, or Other Claimants; Unknown Tenants in Possession #2, If living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants Defendant(s). VERIFIED COMPLAINT TO FORECLOSE MORTGAGE Plaintiff, Wells Fargo Bank, NA sues the Defendants and states: 1. This is an action to foreclose a mortgage on real property located in Palrn Beach County, Florida, and by reason thereof the venue for this matter is in Palm Beach County, Flonda. 2. On January l7, 2008, there was executed and delivered a Promissory Note ("Note") and a Mortgage ( "Mortgage ") securing payment of the Note to the payee named thereon. The Mortgage was recorded in Official Records Book 22443, Page 037, of the Public Records of Palm Beach County, Florida, the property then owned by and in possession of the mortgagor(s). True and correct copies of said Note and Mortgage are attached hereto as Exhibit "A" and Exhibit "B" respectively. 3. The Defendants, Elector G. Lopez and Jennifer Mullins- Lopez, executed the Mortgage. 4 The Defendant, Hector G Lopez, is the maker of the Note. 5. Federal National Mortgage Association is the owner of the note. Plaintiff is the servicer of the loan and is the holder of the note. Federal National Mortgage Association has authorized Plaintiff to bring this action. 6. The Mortgage of the Plaintiff is a purchase money mortgage being a lien superior in dignity to any prior or subsequent right, title, claim, lien or interest arising out of mortgagee or the mortgagee's predecessors in interest. 7_ The Defendant, Hector G. Lopez a/k/a Hector Lopez, is the current owner of the real property which is the subject of the Mortgage. 8. All conditions precedent to the acceleration of the Note and Mortgage and the filing of the instant foreclosure complaint have been fulfilled. 9. There has been a default in the payment of the amounts due under the Note and Mortgage in that the payment due for January 1, 2011 and all subsequent payments have not been made. 10 Plaintiff declares the full amount payable under the Note and Mortgage to be due and payable. The Defendant(s) who may be held personally liable for a deficiency, if any, is the notemaker Hector G Lopez, unless any of such Defendant have been discharged in bankruptcy in which event no deficiency is or will be sought. 12. There is now due and owing the principal sum of $161,271.76 together with interest accruing thereon, together with all sums that may be due for taxes, insurance, escrow advances, and expenses and costs of suit including but not limited to filing fees, recording fees, title search and examination fees, fees due for service of process and such other costs as may be allowed by the court. 13 Plaintiff is obligated to pay Plaintiff's attorney a reasonable fee for their services and seeks an award of attorney's fees 14 That the Defendant, Jennifer Mullins- Lopez, might have some claim or demand in the subject property by virtue of spousal homestead interest, if any, and all other rights, claims, liens, interest, encumbrances and equities, either recorded or unrecorded, if any in the subject real property. The above - described interest of said Defendant(s) in the subject property is inferior to the interest of the Plaintiff in said property, 15 That the Defendant, The City of Boynton Beach, Florida, might have some claim or demand in the subject property by virtue of a Mortgage in the amount of $30,500.00, dated on January 17, 2008, filed in Official Records Book 22443, Page 56, of the Public Records of Palm Beach County, Florida, The above - described interest of said ATTACHMENT III Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL December 13, 2011 After brief discussion, Mr. Aikens agreed to defer discussion of the item to later in the meeting so he and Ms. Biscuiti could review the budget. Ms. Brooks clarified all the elements the Heritage Fest wanted, less the stage and private dinner, were included in the budget. Motion Vice Chair °Hove moved to table the item and bring it back when staff had worked with the HOB members. Mr. Hay seconded the motion that passed 6 - (Mr Holzman dissenting.) Mr. Buchanan had requested Heritage Fest 2013 be placed on the agenda as Item B. The discussion would be heard under XII. New Business, Item E. XII. New Business: A. Review Policy Regarding Mortgage Foreclosures, CRA Liens, and Collection of CRA Loans Chair Rodriguez left the dais at 7.56 p.m. Attorney Cherof stated this item arose from a lawsuit that was filed, drawing the CRA into a mortgage foreclosure, when the CRA held the second position due to a $50,000 second mortgage. The Board had already established a policy, when the CRA was in second or third position, they would pursue collection of the indebtedness of the obligation and would pursue a personal judgment from the individual who borrowed the monies from the CRA. Whether it was paid or not was unknown, but it was an incentive for individuals to understand that when receiving funds from the Community Redevelopment Agency, it was an obligation until it was paid in full, He requested confirmation that policy still stood, M otion Mr. Karageorge moved to stick with the policies in place and do as Counsel directed. Mr. Hay seconded the motion. Amended Motion Mr. Karageorge amended his motion that the recommendation was to confirm the previous policy to pursue collection of indebtedness to the CRA. Mr. Hay agreed to the amendment. 12 Meeting Minutes Community Redevelopment Agency Board Bo nton Beach, FL December 13, 2011 Atbomey Cherof anticipated these types of cases would arise every six or seven months. Chair Rodriguez returned to the dais at 7:58 p.m. There were no public comments received on this item. Vote The motion unanimously passed. B. Consideration of Proposal from Kimley -Horn for Design and Construction Administration of Marina Entry Area at Boynton Beach Blvd. and Federal Highway This item was the first step in the design of the marina entry features at Boynton Beach Boulevard and Federal Highway. It was a budgeted line item in this year's budget and it included costs for construction administration. It was anticipated the project would be designed and constructed by the end of the fiscal year. Mike Simon, Development Director, stated all of the projects the Board approved were in this year's budget. The dive shop, park, marina entrance, and secondary entrance feature would be completed at the end of the fiscal year. Chair Rodriguez expressed it was a lot of money to design a sign and landscape. Mr. Simon explained the rule of thumb was the costs were between 15% and 18% of the construction costs and he listed the items involved. The CRA spent $1.5 million to extend Boynton Beach Boulevard through to the marina which had dead ended at Federal Highway. They needed to draw individuals to the marina from both directions and create a sense of arrival. Staff wanted to be smart with the investment and have signage to draw attention to the corner at the light. There was brief discussion the road into the marina was narrow; however, staff thought the signage would alleviate traffic issues. Motion Mr. Hay moved to approve. The motion was duly seconded and unanimously passed. 13 ATTACHMENT VI Law Offices of STEVENSERLE, P.A. 6070 North Federal Highway Boca Raton, Florida 33487 Telephone: (561) 912-3507 Facsimile: (561) 340 E-mail: ellen@stevenserlepa.com Attorneys at Law Attorneys at Law Steven Serle *# Fredric I. Gottlieb Brian Bedell *+ Myron G. Lappen * &? Ellen Dorman+ Steven Mackey& Christopher Geiger * ** Linley Schatzman Ronald Gillette * ** *Also admitted in Federal Court + Also Admitted in New York # Also admitted in Nevada &Also admitted in Pennsylvania ** *Admitted in Nevada only ? Admitted in US Tax Court October 31, 2012 Re: 1851 NE 5 Street, Boynton Beach, Florida 33435 To Whom It May Concern: Please accept this request for the Board to put the above referenced property on the agenda to discuss the Board's position as it pertains to a short sale on said property. This property was purchased in January 2008. At that time the purchase price was $239,990.00. The purchase was financed with a first mortgage from Wells Fargo in the original amount of $168,000.00, a SHIP loan in the amount of $30,500.00 and a third with BBCRA in the amount of $45,000.00. As you know, the neighborhood has undergone some major changes that have impacted the values dramatically. There is presently an offer on the property for $85,000.00. My office is going to be negotiating the short sale. We need to know what your position is before we expend resources working with Wells Fargo. I have attached the Seller's hardship letter. Please advise if you need any further information. Thank you for your consideration. Very truly yours, The Law Offices of Steven Serle, PA Ellen Dorfman, Esq. Offices in Boca Raton, Florida and Las Vegas, Nevada )uiy 28, 2012 Weis Fargo Flume Flprtpege 0073112374? Itl� Hardshtlp letter • Short Sale for 1B51 ME 5 Street Boynton Beach, fonds 33435 Der Creditor 1 have been experiencing financial difficulties for several reasons; a series of payt;uts, the HOA more than doubled its monthly Lets, having a third dwid and being the sok source income for my famHy. AdditiOneay, tie safety of the neighborhood has afro become a lerge concern arid no longer feel it safe tar my tamely to be in the home Atter having my current hrtanccal satiation caveluley snrilyeed, 1 have concluded that rt i nn rnnger payatr+i* to comply wrt'h tfu• original turns of the agreement 1 have r►o choice but asi you fix yG.,r help o-n av•oing t'a►e foretlquire of my family's horny. Due to the dropping of home poxes that have afTecte1 the entire country in the pass( tevi yeark and the fact that our community has Chine Dry-waR which also affects the home values. I currently owe more o' city mortciave than my horse Is actualtw worth Pease consRoer akow3nq rne Into your Short Sale Program so that we can lower tic pr rc a�ci sell the house quickly bdore It goes onto foreclosure. This win allow rr+e to settle my tindrk-ra' t)pllgithori In you and have it chance to qM bat on my feet, without having to tole for bankru ptcl Reese understand that' hardsh,p: rise oc - ur nnct noon) 'Cr.. not r ,,,• tin.% Arrply 4t rr.x-d Ali snritirrrrd our fttn itt %ine our lntent s went' to ra +9s cur the horror 1 doe ply nppre+7rtr your tw p In that, m>ittr If you haws Prey Guests, c n(-4-n° ,ny;hing hrrt r tram mi vott (.7n r•ntarr rr irto'ney ER ‘en DOtt at 561-911? 357/,' ( l e-(t tr_F"-' s'at; thz,r r ^.o i- tomyrl r I „ rvI =]cc1 d•Y,.r i. t'L4 r. tJ Ho( ii i°, b. ,,fl ec(L r•cc / fyrc l; pt.. l 1 3(i: - • Page 1 of 2 Simon, Michael From: Simon, Michael Sent: Friday, November 02, 2012 9:37 AM To: 'Ellen Dorfman' Subject: RE: lopez hardship letter Yes. Respectfully, Michael Simon Development Director Boynton Beach C.M 710 N. Federal Highway Boynton Beath, FL 33435 Off 561- 737 -3256 ext. 206 Fax. 561 - 737 -3258 simonm 4bbfl.uj From: Ellen Dorfman [mailto:ellen @stevenserlepa.com] Sent: Thursday, November 01, 2012 2:14 PM To: Simon, Michael Subject: RE: lopez hardship letter Yes, but you and I discussed the fact that we have not even started the short sale yet and I have no way of knowing how much the first is going to offer. I can make the assumption that the first will offer $6,000 total to all junior lien holders. Does that suffice? Ellen Dorfman,Es Short Sale Department Law Offices of Steven Serle 6070 North Federal Highway Boca Raton, Florida 33487 Phone 561 -912 -3507 Fax.561- 340 -1995 E11enAStevenSerlePA com From: Simon, Michael [mailto:SimonM @bbfl.us] Sent: Thursday, November 01, 2012 2:12 PM To: Ellen Dorfman Subject: Re: lopez hardship letter Yes. Did your assistant let you know I will need a letter identifying that specific request needed from the Board. The current letter only states that there is an offer of $85,000 but not what is required or requested of the agency. If you have any questions, please don't hesitate to call me. Respectfully, Michael Simon BBCRA Development Director 561 -737 -3256 ext 206 Sent from my iPhone On Nov 1, 2012, at 2:05 PM, "Ellen Dorfman" <etlen(a stcvensetiq)a cotri> wrote is this any better) Ellen Dorfman. ±s Short Sale Department Law Offices of Ste en Serle 6070 North Federal Highway Boca Raton. Florida 33487 Phone 561- 912 -350 Fax 561- 340 -199 L1len(a),StevenSeriel'A con, From: jennifer Iopez [mailto:preolmt(a©aol.corn] Sent: Thursday, November 01, 2012 1:59 PM To: ellenCa stevenserlepa.corn Subject: Iopez hardship letter see if this is a better copy thank you jennifer 5615061700 <signed hardship letterdpg> ATTACHMENT V DIRECT INCENTIVE FUNDING AGREEMENT Tiis Direct centive Funding Agreement (hereinafter "Agreement ") is entered into as of the / Z day of 2006, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as "CRA "), with a business address of 915 South Federal Highway, Boynton Beach, Florida 33435. And Boynton Village, LLC, (hereinafter referred to as "Developer"), with a business address of 2121 Ponce de Leon Boulevard, PH, Coral Gables, Florida 33134, and/or assigns. RECITALS: WHEREAS, as part of its strategy to encourage homeownership by families within certain income brackets, the CRA has instituted certain programs to provide incentive funding to developers, including the Direct Incentive Program for Workforce Housing adopted on August 8, 2006, for direct assistance offered by the developer to such qualifying homebuyers; and WHEREAS, at the September 12, 2006, meeting of the CRA Board, the CRA Board approved amending its Homebuyers Assistance Program and directed staff to begin negotiations with Developer to create between 25 and 50 affordable homeownership opportunities for a project known as The Preserve (hereinafter the "Project ") (subsequently, Developer agreed to set aside 50 affordable units as set forth within this Agreement); and WHEREAS, Developer is hereby submitting to the CRA a proposal to offer to qualified homebuyers such assistance for the Project; and WHEREAS, the CRA intends to provide incentive funding to the Developer for such homeownership opportunities on the basis set forth herein; and WHEREAS, this Agreement is not intended to be a "Development Agreement" within the meaning of Florida Statutes, Section 163.3221. NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements herein contained and other good and valuable consideration, the receipt of which is hereby acknowledged, it is agreed herein between the parties as follows: Section 1. Recitals. The foregoing recitals are true and correct at the time of the execution of this Agreement and are incorporated herein. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 1 Section 2. Definitions. As used in this Agreement, the following terns shall have the following meanings: "Affiliate" of a party means any corporation, partnership, limited liability company, trust or other entity controlling, controlled by, or under common control with such party (whether directly or indirectly through one or more intermediaries). For the purpose of this definition, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies, whether through the ownership of voting interest or by contract or otherwise. "Affordable Access Unit" means the fifty (50) units committed to by Developer to qualify for the affordable access as described in this Agreement (also described as "Workforce Housing" within the CRA Guidelines). "Agreement" means this Direct Incentive Funding Agreement and all exhibits and attachments thereto, as any of the same may hereafter be amended from time to time, by mutual agreement of the parties. "Developer" means Boynton Village, LLC, and any assignee or transferee of Boynton Village, LLC, that is permitted under this Agreement, from and after the date of such permitted assignment or transfer. "City" means the City of Boynton Beach, Florida. "Pledged Project Increment Revenues" means the Project Increment Revenues received by the CRA which are pledged to the Developer as set forth within Section 6.1.C. of this Agreement. "Project" means The Preserve as described above in the second "Whereas" clause, and as further described in the Application defined above and in the site plan defined below. "Project Increment Revenues" means the amount deposited in the Redevelopment Trust Fund for the Redevelopment Area pursuant to Florida Statutes, Section 163.387, which is attributable to the Project, using $1,025,000 as the 2004 base year amount in calculating such increment revenues, so that increment revenues for the Project are equal to all amounts over the base year amount. "Property" means the real property described on Exhibit "A ", attached hereto. "Redevelopment Area" means those areas within the limits of the City which have been declared blighted in accordance with the provisions of Florida Statutes, Chapter 163, Part III. "Redevelopment Trust Fund" means the trust fund established pursuant to Section 163.387, Florida Statutes for the deposit of incremental revenues attributable to the Redevelopment Area. O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 2 "Site Plan means that as approved by the City of Boynton Beach City Commission by motion and vote on April 5, 2005, a copy of which is to be attached hereto as Exhibit "B". "Substantial Completion" or "Substantially Complete" means the point at which the Palm Beach County Property Appraiser has placed the improvements on the Tax Roll. "Tax Collector" means the duly elected tax collector for Palm Beach County, Florida. "Tax Roll" means the real property ad valorem assessment roll maintained by the Palm Beach County Property Appraiser for the purpose of the levy and collection of ad valorem taxes. Section 3. Effective Date. This Agreement shall be effective on the date that the last party to sign executes this Agreement (hereinafter "Effective Date "). Section 4. Developer Obli¢ations — Construction. Developer agrees to construct or cause to be constructed the Project as described in the Site Plan in order to receive the full Direct Incentive Funding as provided for in Section 6 hereof. The Site Plan may be modified from time to time in accordance with and pursuant to the Code of Ordinances of the City of Boynton Beach; provided, however, that Developer shall not have the right to substantially reduce the number of residential units, change the exterior appearance, including landscaping, the size or scope of the amenity areas, the number of parking spaces or to make any other change which would cause the Project to differ substantially from the approved Site Plan without the prior written approval of the CRA in order to receive the full Direct Incentive Funding as provided for in Section 6 hereof. "Substantially" as used in this Section means any change that would require a major Site Plan Modification. Developer and the CRA acknowledge, agree and understand that the Project is under construction as of the date of this Agreement. 4.1. Non - Discrimination. Developer agrees that no person shall on the grounds of race, color, disability, national origin, religion, age, familial status, sex or sexual orientation be excluded from the benefits of, or be subjected to discrimination under, any activity carried on by Developer, its contractors, sub - contractors, or agents, in the performance of this Agreement. Should such discrimination occur, the CRA will provide notice to Developer that it claims there has been a breach of this condition and thereafter, Developer shall have fifteen (15) business days to demand arbitration as to the claim of discrimination. The parties will then mutually agree in writing to an arbitrator and if they cannot agree, the rules of the American Arbitration Association will govern. The arbitration will be governed by the rules of the American Arbitration Association regardless of whether an arbitrator is agreed upon by the parties. This arbitration shall be independent of any other actions being taken by other govermnental agencies. However, a finding by any other agency or court that such discrimination has occurred may be relied upon by the CRA as conclusive proof of a breach of this provision, provided such finding is fmal and not appealable. If Developer does not demand arbitration within fifteen (15) business days, or if arbitration is conducted and it is determined by the arbitrator that discrimination occurred, the CRA shall have the right to terminate this Agreement and pursue any and all other lawful remedies. The cost of such arbitration shall be borne by the non - prevailing party. Such non - prevailing party shall be determined by the arbitrator. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 3 4.2. Convicted Vendor List. As provided in F.S. 287.132 -133, by entering into this Agreement or performing any work in furtherance hereof, Developer certifies that it, and its affiliates, contractors, sub - contractors or agents who will perform hereunder, have not been placed on the Convicted Vendor List maintained by the State of Florida Department of Management Services within thirty-six (36) months immediately preceding the Effective Date. Section 5. Affordable Access Requirements. As a condition precedent to its receipt of any funds pursuant to this Agreement, Developer and its successors or assigns, shall implement an affordable access component to the Project as provided for in this Agreement, the CRA's Workforce Housing Direct Incentive Program Guidelines, and as set forth below ( "Affordable Access Requirements "). Implementation and maintenance of the Affordable Access Program shall be as follows: 5.1. Affordable Access — Residential. 5.1.1. Developer agrees to set aside fifty (50) units designated as Affordable Access Units. 5.1.2. Developer agrees to reduce the price of the fifty (50) units designated as Affordable Access Units by Sixty Thousand and No /100 Dollars ($60,000.00) for the Cypress Model, Fifty Thousand and No /100 Dollars ($50,000.00) for the Palm Model, and Forty Thousand Dollars ($40,000.00) for the Banyan and Hibiscus Models (see attached Price List marked as Exhibit "C" which is attached hereto and made a part hereof) to buyers whose income does not exceed 120% of Median Household Income ( "MHI ") for Palm Beach County as set by the United States Housing and Urban Development ( "HUD ") for the year 2006. Proof of income qualification for the Affordable Access Units shall be provided to the CRA prior to any disbursement of Pledged Project Increments Revenue. Examples of acceptable forms of proof include HUD closing statements executed by the buyer and seller; copies of two years of tax returns; and/or paycheck stubs for all adults in the buyer's family for the two weeks prior to closing including proof of family size. 5.1.3. Qualifications for buyers of the Affordable Access Units and related re- sale requirements and restrictions shall be found in Exhibit "D" attached hereto and made a part hereof (the CRA Homebuyer Assistance Program Guidelines 2006/2007). 5.1.4. The re -sale limitations and requirements set forth herein shall be included in the deeds of sale, to be executed by Developer as seller (or its successors or assigns) and the purchaser at the time of closing on the initial sale of the Affordable Access Units; shall constitute a covenant running with the unit; and shall be recorded in the Public Records of Palm Beach County, Florida. CRA shall approve the form of the deed prior to execution. 5.2. Performance Audit. Prior to receiving the annual allotment of Pledged Project Increments Revenue, Developer shall provide written audited verification, at its sole cost and expense, of substantial completion and of compliance with the requirement to sell 50 Affordable Access Units. O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 4 5.2.1. This performance audit shall be conducted by an independent Certified Public Accountant (CPA), selected and paid for by Developer with the approval of the CRA. 5.2.2. With respect to the Affordable Access Unit component of the Program, the CPA must examine the qualifying income data for every purchaser identified as a qualifying purchaser pursuant to the Affordable Access Unit requirements and must certify, in writing, the eligibility of all such qualifying Purchasers under the Program. The written opinion must include verification of the number of residential units which are owned by qualified purchasers. Developer must provide all necessary documents to conduct the audit including, but not limited to, the executed deeds and closing statements. 5.2.3. The examinations and opinions required under this Section must be conducted in accordance with generally accepted accounting standards established by the American Institute of Certified Public Accountants, 5.2.4. The audit required pursuant to this Section may be performed in conjunction with other auditing services. 5.2.5. Disbursement of the Pledged Project Increment Revenues shall only occur upon the CRA's acceptance of a properly documented and supported audit. Disbursement of Pledged Project Increments Revenue shall be conducted pursuant to the Direct Incentive Program for Workforce Housing Guidelines. An example of such funding disbursement is attached as Exhibit E. 5.2.6. It is acknowledged, understood and agreed that Developer may not be able to sell each Affordable Access Unit. In the event that not all Affordable Access Units are sold, then the funds Developer would otherwise be entitled to shall be reduced by an amount corresponding to the percentage as set forth in Section 6.1.A herein. See also Exhibit E as an example. 5.2.7. Exceeding the agreed upon requirements of the 50 Affordable Access Units shall not entitle Developer to additional funding under this Agreement or to a credit or set- off against any reduction in funds due to failure to meet the other Affordable Access Requirements in earlier years hereunder. Section 6. Direct Incentive Funding. The direct incentive funding provided for under this Agreement is granted to Developer for the purpose of offsetting, in part, Developer's cost of creating fifty (50) affordable residential units. 6.1. Direct Incentive Funding Formula and Term. The CRA hereby agrees to direct fund, that is, to pledge and assign to Developer for a period of ten (10) consecutive years, as provided herein and below, an annual amount which equals the Pledged Project Increment Revenues as set forth in subsection 6.1.C. herein less any amounts deducted pursuant to the terms of Section 5 above due to the failure of Developer to comply with the Affordable Access Requirements of this Agreement. nACfRD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 5 A. The Pledged Project Increments Revenue shall be awarded pro rata based on the proportion of Affordable Access Units sold to eligible buyers. For example, if ten (10) percent of affordable access units are sold in the first year the Project Increment Revenues are available, Developer is entitled to 10% of the eligible Pledged Project Increments Revenue that year. If, the following year 100% of affordable access units are sold, Developer is entitled to 100% of the Pledged Project Increments Revenues that year and in continuing years until the ten -year period has terminated. See Exhibit E attached hereto and made a part hereof for the estimated Pledged Project Increments Revenue Calculation for this Project. B. Developer shall have the option to postpone the first Pledged Project Increments Revenue disbursement to the following year at Developer's option with written notification provided to the CRA in advance of the disbursement. C. For the first through fifth disbursements of the Pledged Project Increments Revenue, the Developer shall be entitled to 75% of the Project Increment Revenues. For the sixth through tenth disbursements, the Developer shall be entitled to 25% of the Project Increment Revenues. 6.2. Commencement and Conditions of Funding. The ten (10) year term for each Phase for the receipt of Pledged Project Increments Revenue shall commence in the year that the following conditions are met: A. The Project is Substantially Complete; B. The completed improvements of each Phase have been placed on the Tax Roll; C. The CRA has determined that Project complies with the commitments and with all of the terms and provisions of this Agreement; D. All requirements as set forth within this Agreement have been complied with by Developer; and E. The CRA has received Project Increment Revenues from such improvements. 6.3. Disbursement of Funds. Except as otherwise provided herein, the Pledged Project Increment Revenues shall be disbursed to Developer by April 1 of the year following the corresponding ad valorem tax year O:\CORD003 - Boynton Beach CRA - Cornerstone DIFA —10- 27-06 6 6.4. No Pledge of Pledged Proiect Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by term of this Agreement. 6.5. Subordination. Any Pledged Project Increment Revenue of the CRA pursuant to this Agreement is subordinate to the pledge of the tax increment revenue given to secure the CRA's Tax Increment Revenue Bonds pursuant to Resolution No. 04 -04, adopted December 6, 2004, as amended and supplemented. Section 7. Events of Default, Remedies and Termination. 7.1. Default. Upon the occurrence of any one or more of the following events, all obligations of the CRA to disburse further funds under this Agreement shall terminate at the option of the CRA. Notwithstanding the preceding sentence, CRA may at its option continue to make payments or portions of payments after the occurrence of one or more of such events without waiving the right to exercise such remedies and without incurring liability for further payment. The CRA may at its option terminate this Agreement and any and all funding under this Agreement upon occurrence of any one or more of the following: 7.1.1. Any representation by Developer in or in connection with this Agreement is inaccurate or incomplete or false in any material respect. 7.1.2. The failure of Developer or its Affiliate to observe or perform any of the terms, covenants, conditions, obligations, or provisions of this Agreement in any material respect to be observed or performed by Developer or such failure continues for a period of thirty (30) days after written notice thereof from the CRA to Developer provided, however, that if the nature of Developer's default is such that more than thirty (30) days are reasonably required for its cure, then Developer shall not be deemed to be in default if Developer commenced such cure within said 30 -day period and thereafter diligently pursues such cure to completion. 7.2. Remedies. Upon the occurrence of any one or more of the foregoing events, CRA may, at its option, give notice in writing to Developer to cure its failure of performance if such failure may be cured. Upon the failure of Developer to cure, CRA may exercise any one or more of the following remedies: 7.2.1. Terminate this Agreement upon not less than fifteen (15) days notice, by certified letter to Developer at the address specified in Section 8.5 of this Agreement, such notice to take effect when delivered to Developer. 7.2.2. Commence a legal action for the judicial enforcement of this Agreement and for any and all damages occasioned by Developer breach of this Agreement including, but not limited to, repayment of funds disbursed to Developer as a result of fraud or 'material misrepresentation. 7.2.3. Withhold the disbursement of any payment or any portion of a payment. O_\CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 7 7.2.4. Take any other remedial actions that may otherwise be available under law. 7.3. Attorney's Fees and Costs. In any judicial action arising from this Agreement the prevailing party shall be entitled to an award of its reasonable attorney's fees and costs, at both the trial and appellate levels, from the non - prevailing party. However, the CRA shall not be required to exceed its limits of liability as set forth in section 768.28, Florida Statutes. 7.4. Law and Remedy. This Agreement shall be governed by the laws of the State of Florida. Venue of any and all legal actions arising from this Agreement shall be in Palm Beach County, Florida. No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise. No single or partial exercise by any party of any right, power, or remedy hereunder, shall preclude any other or further exercise thereof. 7.5. Strict Performance. No failure by either party to insist upon strict performance of any covenant, agreement, term or condition of this Agreement or to exercise any right or remedy available to such party by reason of the other party's Default and no payment or acceptance of full or partial payments of amounts due under this Agreement during the continuance (or with CRA's knowledge of the occurrence) of any Default or Event of Default, shall constitute a waiver of any such Default or Event of Default or of such covenant, agreement, term, or condition or of any other covenant, agreement, term, or condition. No waiver of any Default shall affect or alter this Agreement, but each and every covenant, agreement, term and condition of this Agreement shall continue in full force and effect with respect to any other then existing or +i subsequent Default. Payment by either party of any amounts due under this Agreement shall be without prejudice to and shall not constitute a waiver of any rights against the other party provided for under this Agreement or at law or in equity. One party's compliance with any request or demand made by the other party shall not be deemed a waiver of such other party's right to contest the validity of such request or demand. All the terms, provisions, and conditions of this Agreement and the restrictive covenants shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. The Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both parties have contributed substantially and materially to the preparation of the Agreement and the restrictive covenants. 7.6. Remedies Under Bankruptcy and Insolvency Codes. If an order for relief is entered or if any stay of proceeding or other act becomes effective against Developer or in any proceeding which is commenced by or against Developer under the present or any future federal bankruptcy code or in a proceeding which is commenced by or against Developer, seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any other present or future applicable federal, state or other bankruptcy or insolvency statute or law, CRA shall be entitled to invoke any and all rights and remedies available to it under such bankruptcy or insolvency code, statute or law or this Agreement. O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 8 7.7. Termination. The obligations of Developer and CRA shall terminate upon the expiration of the Project Increment Revenues payments to Developer as provided in Section 6 above as a result of the expiration of the agreed upon payment periods. Section 8. General Conditions. 8.1. CRA's Maintenance of Records and Annual Account Funding. Commencing with the Effective Date, the CRA shall maintain and administer separate financial records which reflect terms of this Agreement. Such records shall clearly document for the benefit of the CRA and Developer, the Base Year amount and the annual revenue collected by the CRA attributable to the Project and the annual amounts owing and paid under this Agreement, 8.2. Successors and Assigns. The CRA and Developer each binds itself and its successors, executors, administrators and assigns to the other party and to the successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Prior to Substantial Completion of the Project, without the prior written consent of the CRA, Developer may transfer this Agreement to an Affiliate who reaffirms that Developer shall continue to be responsible for all the obligations of Developer under this Agreement in order to receive the full Pledged Project Increments Revenue as provided for in Section 6 hereof; provided, however, that prior to Substantial Completion of the Project, this Agreement may not be assigned by Developer to any third party without the prior written consent of the CRA and without the assignee's specific written assumption of all of the obligations of Developer under this Agreement. After Substantial Completion this Agreement may be assigned by Developer; provided, however, that any assignee thereto shall specifically assume all of the obligations of Developer under this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and Developer. In the event that the CRA determines that Developer is in violation of this paragraph, the CRA shall have the right to terminate this Agreement and to seek repayment of the funds paid by the CRA to Developer. 8.3. No Brokers. CRA and Developer each represents to the other that it has not dealt with any broker, finder, or like entity in connection with this Agreement or the transactions contemplated hereby, and each party shall indemnify the other against any claim for brokerage commissions, fees, or other compensation by any person alleging to have acted for or dealt with the indemnifying party in connection with this Agreement or the transactions contemplated hereby. 8.4. Indemnification and Hold Harmless. Developer agrees to protect, defend, reimburse, indemnify and hold the CRA, its agents, employees and elected officers and each of them, free and harmless at all times from and against any and all claims, liability, expenses, losses, costs, fines and damages, including attorney's fees, and causes of every kind and character (sometimes collectively "Liability ") against and from the CRA which arise out of this Agreement, except to the extent that any of the Liability results from the negligence or willful misconduct of the CRA. Developer recognizes the broad nature of this indemnification and hold harmless clause, and voluntarily makes this covenant and expressly acknowledges the receipt of good and valuable consideration provided by the CRA in support of this clause in accordance with the laws of the State of Florida. CRA's indemnification obligations shall not exceed the O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 9 statutory limits provided within Section 768.28 Florida Statutes, and CRA does not waive its sovereign immunity rights. This paragraph shall survive the termination of the Agreement. 8.5. Notices and other Communications. Whenever it is provided herein that notice, demand, request, consent, approval or other communication shall or may be given to, or served upon, either of the parties by the other (or any recognized mortgagee), or whenever either of the parties desires to give or serve upon the other any notice, demand, request, consent, approval or other communication with respect hereto or to the Project, each such notice, demand, request, consent, approval or other communication (referred to in this Section 9.4 as a "Notice ") shall be in writing (whether or not so indicated elsewhere in this Agreement) and shall be effective for any purpose only if given or served by (i) certified or registered United States Mail, postage prepaid, return receipt requested, (ii) personal delivery with a signed receipt or (iii) a recognized national courier service, addressed as follows: If to Boynton Village: Boynton Village, LLC c/o Cornerstone Group Development, LLC Attention: Leon Wolfe 2121 Ponce de Leon Boulevard, PH Coral Gables, Florida 33134 With Copies to: Michael Weiner, Esq. Weiner & Aronson, P.A. 102 North Swinton Avenue Delray Beach, Florida 33444 If to CRA: Boynton Beach Community Redevelopment Agency Lisa Bright, Executive Director 915 South Federal Highway Boynton Beach, Florida 33435 With Copies to: Kenneth G. Spillias, Esq. Lewis, Longman & Walker, P.A. 1700 Palm Beach Lakes Boulevard, Suite 1000 West Palm Beach, Florida 33401 8.5.1. Any Notice may be given in a manner provided in this Agreement on either party's behalf by its attorneys designated by such party by Notice hereunder. 8.5.2. Every Notice shall be effective on the date actually received, as indicated on the receipt therefore, or on the date delivery thereof is refused by the intended recipient. 8.6. Time is of the essence. The parties acknowledge that time is of the essence in the performance of the provisions in this Agreement. 8.7. Entire Agreement. The CRA and Developer agree that this Agreement sets forth the entire agreement between the parties and that there are no promises or understandings other O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 10 than those stated herein. None of the provisions, terms and conditions contained in this Agreement may be added to, modified, superseded, or otherwise altered, except by written instrument executed by the parties hereto. 8.8. Exhibits. Each Exhibit referred to in this Agreement forms an essential part of this Agreement. Any exhibits not physically attached shall be treated as part of this Agreement and are incorporated herein by reference. 8.9. Severabilitv,. If any provision of this Agreement or application thereof to any person or situation shall, to any extent, be held invalid or unenforceable, the remainder of this Agreement, and the application of such provisions to persons or situations other than those as to which it shall have been held invalid or unenforceable shall not be affected thereby, and shall continue in full force and effect, and be enforced to the fullest extent permitted by law. 8.10. Priority of Interpretation. In the event of any conflict between the terms and conditions of this Agreement and the Direct Incentive Program, the terms and conditions of this Agreement shall prevail. 8.11. Headings. Headings herein are for convenience of reference only and shall not be considered in any interpretation of this Agreement. 8.12. Insurance. All parties hereto understand and agree that the CRA does not intend to purchase property insurance in connection with this Project. 8.13. Binding Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and Developer (or in any representative capacity) as applicable, has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 8.14. Recording. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. SIGNATURES ON FOLLOWING PAGE ,-.nn rwil n......r..., R..e.h ('R A . Cnrnerstone DIFA — 10 -27 -06 11 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES BOYNTON VILLAGE, LLC Gev B Print .r'ITe: 1177 ' p', LEON J. watt r Ti e: Date: /y -7 ro Print name: w SS8 le ez BOYNTON B ACH COMMUMTY 4/1,(41/14G% REDEVEL MENT AG CY By: d� Print • 1 Print name: J'fFN N Z 1 *ir► Title: Chairperso • . Date: / }// L'/06 "name: / 1 tL O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 12 STATE OF FLORIDA J� COUNTY O "!� SS: BEFORE ME, an officer duly authorized by law to administer oaths and take acowledgments, perso 1 e appeared LEON J. WOI FF as P T of `! P, / (,t (,(. 1.4C . and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of iiZA BF to for the use and purposes mentioned herein and that the instrument is the act and deed of . __He/she is personally known to me or has produced as identification. — IN WITNESS OF THE FO; SING, have set .. y hand and official eal at in the State and County aforesaid on this �� : y of . A , 2006. ,,,«"; Le ani ' oman .4.: , -. Comm Commission r DD312446 6xpim I :Apr. 2008 ti No P ic, State of Florida at Large *� Atlantic WIN Co. My Co ssion Expires: STATE OF FLORIDA SS: COUNTY OF PALM BEACH : BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, personally appeared / eo erSo r mA as Cl,, A 1 - r44.r%.. of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, for the use and purposes mentioned herein and that the instrument is the act and deed of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. He /she is personally known to me , or has produced as identification. IN WITNESS OF THE FORQGOING, I have set my hand and official seal at in the State and County aforesaid on this / a-' day of wt.b a r" , 2006. • , SUSAN E. HARRIS , fifcLAA)=-.A' Notary Public, State of Florida w •') -A My Comm. S DD 248$94 7 Notary Public, State of Florida at Large e�wo.c My Commission Expires: q /?-3 c, /P o, valsitivw. 000 NOW O.ICORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 13 Exhibit "A" Property Description That portion of Lots 20 through 26, inclusive, lying East of the West line of Section 15, Township 45 South, Range 43 East, Boynton Beach, Florida as shown on the Plat of SAM BROWN JR.'S HYPOLUXO SUBDIVISION, as recorded in Plat Book 1, Page 81, in and for the Public Records of Palm Beach County, Florida, less however the South 332 feet, of the West 165 feet, (as measured along the West and South lines) thereof. Together with the beneficial interest in that certain Ingress and Egress Easement contained in Warranty Deed recorded in Official Records Book 3580, page 1323. Together with the beneficial interest in that certain Utilities Easement contained in Warranty Deed recorded in Official Records Book 3580, Page 1323, as modified by Relocation and Grant of Easement recorded in Official Records Book 6686, page 191. O:ICORD003 - Boynton Beach CRA - Cornerstone DffA —10 -27-06 14 Exhibit "B" Site Plan t a il: 1 I f` r ii 11 / f i11 t a II 1 q a } t `' ! x I ' 4 I 1 � �r i . i '' 1' l 1 f 4 � 1 1 w71 ... i►+i. emu, Rl..K.. Ommog+...- .e .en. M.... .. ... a .omm — rim.. ..w. ........ - -,— a,.., .m g..* .... ...P- ..:-.o.. ..... ..... ....o..u......M - O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27-06 15 Exhibit "C" Price List 4T ctif Nye, pa ow." 4 PRICE LIST Banyan From $289.990 2 Bad 2 .Bath 1 car garage 1.071 'rq. ak area Cypress From $349,990 2 Bed, plus Den 1 Bedroom, 2 Bath 1 car garage 1.561 sq. R. ak area Hibiscus From $279.990 3 Bed 3 Bath 1 car garage 1,35T sq- it- ale area Patin From $289.990 3 Bed 3 Bath 1 car garage 1.601 sq. & ale area Prices subject to change without prior notification 7 2wo6 rt•rrr. waxituas AND rr efr-s ciis 411111111ET TO Altaliffirninia. MUCTUIPALMID Unit x MEW Arta P1DOIDAVVOADUZ ire ItatVa'wmaa.Mural* ou:+u Morena. ea its MAW oIQwaar►ZY 1.AW MAI- gibemporntlitetiONnor lir saw LIPMAN aankilan.* ativ rrosesalaorran ris corns navaamm, NOR cerauim a ss UMW O UMMIt tiuc s � maim,. awnings. TO O:\CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 16 Exhibit "D" CRA Homebuyer Assistance Program Guidelines A ARA, Ei tSI.vVYIet Side - Semite illentimminc+s Cessmausity lbsdersimpui Agency Hismianyeriewittansa Program M The awyaltsut Ha.* COMMUllity Red� meant lho�atttdag priced for bail* of die city *pods vretVeog domes. As haualnd pi400u climbed by double dtglta la 20054006, u1m4y fannies we istiond mat edit bowing market. m city ofBoylston beedi datractvaa El4Mct .I#waimis Imihati Pae 6P rstsionga (5HW? dollars to preside down payment duos to low and modeeaee imams iisme1liee. Due so mph/ housing appeeintion. the number abet soil mpch rase imam fudge* wbo can aflbrd to bay Mame bsa deeeeaaaed. In an eft to assist Mete Estonia' the CRA bas implemented the Ikanebuyer AasIatarnce, Fromm, Pro funds cea 'be layered Vellb the City's SHIP Down Femme Aarislsncc Program to wide pep finsnetag to bmflies. It SHIP fends are tutuhvafttlale, HAP fends nue be used es the sok aonr¢ea ofdawn gmmeat rosiessocc ea long as solicents meet ail SUP c rflcria ea set by the City of Bryebun )teach. Program Guidelines . Feeding is on a ft -canna lirst•epyreved basis, 2, Applicants moat meet all ai is slilics*ien cr*aria of the SHIP Down Payment Assistance Program. HAP 4sdifatio wit be conducted by the Cites Ceatminndgr barnstorming Department ar s CoeamamEy Housing Development dopment Q (CHDO)4 A request leer HAP fonds meet be made ohs the eppiieseee be half by either be City et CH DO., 9, PuroLaao Noy New—Islet to emceed $2$Q.46 Existing — Not to e&e a& S2114r462 New Hume Consrinaotisn. Lamm- tie value oftbn CI* CRA lot awarded to bti ebuyer i4 eatelnded dr+ard the yanby mot, but is incltadod in permanent serelgaga eisairebreace 4, Eligible Properties include *misting, siegjlownimily Ins, onastr ction anew sif s -8smlly broom, tawadtensee and condondrtirems located within the CRA, O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA - 10 -27-06 17 2 S. tree of Panda: .. Down amt sad casabas owes. b.. R.faeb drum assets Cif resehed lo brans the Boma up to cods) 6. Preaiii.ar with dependant, miser d*dirlren wip r.oshi. preibt nnee. 7. Parsons wonfatss Within Are City of Boymtaom laaerdi wail] reeeive p relsirnenoe. *. Applicable* arntplasired in the'iassaaatittl ewwias.° ssosors (educsbes, l#aaaailos. iiirefishentra, hanitbsurw workers .ed akillied bandies Mod m) will rea.biwa 9. !octavos from all add* earaawb ere of the household will be iaaiuded to the eanopusrdao of woes !**mate. 194. (My and C A. likandikas .irdl at asa.wl 40% for made.*teo *LOOM. buyer's sad 949{, for law inaoaas bs>yar* utttlhoptmob... prise Tiro aaatual w rust of Ea ao casis sled, CAA fbriglisom awarded shalt tlbaldirti at weeded sbv dermal llsedisi sop sap r *50.000.00 901Mbilitatiaa awpam*srb edariod m brb as aa.bom..p to code luny be 'ascended up b *50,000. llh nmpls # : Moderate blooms Household S 60000 Pembina. Pri of *loan. 5240,000 Closing Cost. $ 3,000 /41ainemana Hamlets* Amount *213,771 clq+`a Mamd>taraaee SEW Down lesye,aeoea x 50,000 Pending Clop *21,22e Pentad af Public Subsidy 25% Sssople are Law Itto.src iiou.siroid $ 451.200 Pannier** Priori otHonaa S20%000 Cicalas Cosa. $ 3,400 Maudanaom lidern *tie Amman 3164, 700 Cat s Masimmm SHIP Down payananaat 3 75,000 Funding P 45,300 P ie of Public Snb eldyr 43% 11- Projected baaeeiars ti mat tiecled ns moesi^se, internee, !areas, in nee ewe iaaa gnian ecee a soclasisa few shall age ®vestid 35% aisNpss isms ilaold taccariaa or wharassaar tits primary lender d timer %ices. The madattea mad—t._ mad debt redo !goad hoa..in s gamaxisee pbsa odor moertsly debt obeisances) shad .me ewasd 45% of income, l'ACIIMM77pe111mwerlY,.,w O: \CORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 18 3 Zzamp s *1 itodamtr honer $00.000 Omar Moodily uaatue $ $1011 bieddi p laynsemt (hal. team i insrauote $ 1 SOO Ilslelas Repaaoe Ratio Coot 10 arcoa ' 3S%) 2771 C amam11 Did limo 3S% Ritemple *2 Law iarosse $ 40000 Chows blho dy 1 * .aye $ 3.130 Ddaeil8is lsyueni (hal. trees dk inwsasaae) 1 dot niter iliaht $ 300 11aem$es 161 ponce 1lablo 2954 Meet Oldie` 3114 12 Applicants least be 1'1net Mires katenbuyors wide no pedalo baa seowa 0rattip within ilrm pant these yaws at Ow Mow arapplie 1las. lxirai ii reel! emte brgper embus dual be dausatined byyevlewlay tba tkbara cone des yam oflPiedsmi i000aur eras .vrtutss. I'u ds shall be in el• Sons are O% esaosd dim Qn ab waidrd a t 0fl.ISa if 913.1? Odds awes toad Milk !beds will be intimates third s Clef it of Royal.* Ra codes rrwarehemar will m .(i . *As e be roquir d if Ow leans is a holden ee en pro 3 hoer. itteess s,rrnfirsllos+sr`tilr weer buyer dud era needled by the City afBi arm Bleach C —ndiyr 7gleo tinmonc Y!lvlelent sad lbws ardwd 1e Ore Oita Jain rn doatiay. Ramie be at arswisaarra grained boyar will inquire telwam ene order tabu. salami* ant unt in lull at Vase aralodos. 13 _ Ra neweing of Chas peopCS r will sew& is ofC:RA Adds with lamette accrued at +11b porssrrenu Redheaded ded of Ih penperty may be pormilied la speck sincammeati r old prewar iteaa aalpeard leas ells City and CRA- 1S. Pandlies whit ramie* CAA iiaeabayms Areiatattw ' eiwtlt occ pyr ilia Yeekkon a for Me terra oft'bs filet mtortimes. Mho tneaedanra iw 1ra..d wed no imam occupied by 1b t+odpiaat ai CRA. fonds. wit MA, bands piths hawed at4% edemas Sion ilea China at p.rr\e.e duel boomer dna add payable is Sall. llneilEtao Mot sraeire arsertasao shall eobeo$ proof of moiriseq y to Our City and CAA eanesily by iita.ennio ne ry of the clog as data.. 'The aceopled !bras erp ronfis * Milky bill showitts lies prod a st naratiissb name and address. ?.Mime to ataaply will nar be 11te CRA ihstde b oom sis* duo and pry obbi. 15_ Upon sada.af he y within the One the ye•m the owner a.u.t pay 8096 of tbte *Cu .sb nd`' Medina cook a stMgy. During ) jraras a,0. SO%� arils equity awed Amin' 27.30, 15% of that equity is due to eta City mad C *A upon addle of the property. T 1fCANt9Vt� thamlosamooklikenrebtAYM Aasses ttiAAri QYfFllnwbx O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA — 10 -27 -06 19 4 Oltdod Moe ptloe: $225,000 City SHW hods $ 50,000 (73'1 {:RA Pawls g 4000 Ps") New SoJee Primer 5 _ 1275,000 S MAXI 2016E** te Sdler $ 1040110 Potosi etlfephyte Chy $ Parent etEgelty to alA $ MAO 16. The City sad Clot shall Meese tu. righbor.finwevissal to pnec0ues the pt petty at the f.ira.riOtll a ipaeiee4 value withibt 45 days awake saline boot the p y ownus. 17- Merin sake my= k ho guseentee of finding. Alt decisions are =Mad is app 1 at`ibe CRA Honed of Discolors. O:ICORD003 - Boynton Beach CRA - Cornerstone DIFA —10 -27-06 20 Exhibit "E" Pledged Project Increments Revenue Formula Examples # of Affordable # of Affordable Access Access Units Sold % of Eligible TIF Units Sold % of Eligible TIF ! 1 2% 26 52% 2 4% 27 54% 3 6% 28 56% 4 8% 29 58% 5 10% 30 60% 6 12% 31 62% 7 14% 32 64% 8 16% 33 66% 9 18% 34 68% 10 20% 35 70% 11 22% 36 72% 12 0.24 37 74% 13 26% 38 76% 14 28% 39 78% 15 30% 40 80% 16 32% 41 82% 17 34% 42 84% 18 36% 43 86% 19 38% 44 88% 20 40% 45 90% 21 42% 46 92% 22 44% 47 94% 23 46% 48 96% 24 48% 49 98% 25 50% 50 100% O:\CORD003 - Boynton Beach CRA - Cornerstone DIFA - 10 -27 -06 21 SECOND AMENDMENT TO DIRECT INCENTIVE FUNDING AGREEMENT DATED DECEMBER 19, 2006 Between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY And BOYNTON VILLAGE, LLC WHEREAS, on December 19, 2006 the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ( "BBCRA ") and BOYNTON VILLAGE, LLC entered into a Direct Incentive Funding Agreement (the "Agreement ") relative to the Project known as the "Preserve "; and WHEREAS, the Agreement provided that the Developer was to set aside fifty (50) units designed to be affordable access units; and WHEREAS, on January 8, 2008 the parties entered into a First Amendment to Direct Incentive Funding Agreement which increased the eligibility threshold from 120% to 140% of Median Household Income as set by the United States Housing and Urban Development (HUD) for the year 2006; and WHEREAS, the present economy has caused significantly reduced demand for the purchase of units in the Project; and WHEREAS, the Developer has requested that the eligibility requirements for potential buyers be modified to include rental opportunities; and WHEREAS, the CRA intends to continue to provide incentive funding to the Developer for homeownership opportunities and to provide incentive funding for rental opportunities on the basis set forth herein. NOW THEREFORE, in consideration of the mutual covenants set forth herein and other lawful consideration, the Agreement is amended as follows: Section 2 is amended to insert the following paragraph after the paragraph entitled "Affordable Access Unit" and shall read as follows: "Affordable Access Rental Units" means not less than 100 units committed by the Developer (or its assigns) as affordable rental housing which shall be rented to individuals and families earning 60% or less of Median Household Income for Palm Beach County as set by the United States Housing and Urban Development ( "HUD "). Section 5.1.1 is amended to read as follows: 5.1.1. Developer agrees to set aside fifty (50) units designated as Affordable Access Units and at least 100 units as Affordable Access Rental Units. T• \DEVELOPMENT\The Preserve - Cornerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3) doc 1 Section 5.1.2 is amended to read as follows: 5.1.2. Developer agrees to reduce the price of the fifty (50) units designated as Affordable Access Units by Sixty Thousand and No /l00 Dollars ($60,000.00) for the Cypress Model, Fifty Thousand and No /100 Dollars ($50,000.00) for the Palm Model, and Forty Thousand Dollars ($40,000.00) for the Banyan and Hibiscus Models (see attached Price List marked as Exhibit "C" which is attached hereto and made a part hereof) to buyers whose income does not exceed 140% of Median Household Income ( "MHI ") for Palm Beach Count} as set by the United States Housing and Urban Development ( "HUD ") for the year 2006. Developer also agrees to rent not less than 100 units at the rental rates outline on Exhibit C -1 (as may be increased from time to time by HUD). Proof of income qualification for the Affordable Access Units and Affordable Access Rental Units shall be provided to the CRA prior to any disbursement of Pledged Project Increment Revenue. Examples of acceptable forms of proof include HUD closing statements executed by the buyer and seller; copies of two years of tax returns; and /or pa }check stubs for all adults in the buyer's family for the two weeks prior to closing including proof of family size. Section 5.2.2 is amended to read as follows 5.2.2. With respect to the Affordable Access Unit component of the Program. the CPA must examine the qualifying income data for every purchaser identified as a qualifying purchaser pursuant to the Affordable Access Unit requirements and must certify, in writing, the eligibility of all such qualifying Purchasers under the Program. The written opinion must include verification of the number of residential units which are owned by qualified purchasers. Developer must provide all necessar documents to conduct the audit including, but not limited to, the executed deeds and closing statements. If requested, Developer shall also provide such information as may be requested regarding the Affordable Access Rental Units Section 5.2.7 is amended to read as follows: 5.2.7. Exceeding the agreed upon requirements of the 50 Affordable Access Units or 100 Affordable Access Rental Units shall not entitle Developer to additional funding under this Agreement or to a credit or set -off against any reduction in funds due to failure to meet the other Affordable Access Requirements in earlier years hereunder. Section 6 is amended to read as follows Section 6. Direct Incentive Funding. The direct incentive funding provided for under this Agreement is granted to Developer for the purpose of offsetting, in part, Developer's cost of creating one hundred fifty (150) affordable residential units Section 6.1 is amended to read as follows. 6.1. Direct Incentive Funding Formula and Term. The CRA hereb} agrees to direct fund, that is. to pledge and assign to Developer for a period often T \DEVELOPMENT \The Preserve . ComerstoneAPreserve DIFA \DIFA Second Amendment - 2010 (3).doc (10) consecutive years, as provided herein and below, an annual amount which equals the Pledged Project Increment Revenues as set forth in subsection 6.1.C. herein less any amounts deducted pursuant to the terms of Section 5 above due to the failure of Developer to comply with the Affordable Access Requirements of this Agreement. A. The Pledged Project Increments Revenue shall be awarded pro rata based on the proportion of Affordable Access Units sold to eligible buyers and Affordable Access Rental Units rented to eligible tenants. For example, if ten (10) percent of Affordable Access Units are sold and /or rented in the first year which the Developer elects to receive the Project Increment Revenues, Developer (or its assigns) is entitled to 10% of the eligible Pledged Project Increments Revenue that year. If, the following year 100% of Affordable Access Units are sold and /or rented, Developer (or its assigns) is entitled to 100% of the Pledged Project Increments Revenues that year and in continuing years until the ten -year period has terminated. See Exhibit E attached hereto and made a part hereof for the estimated Pledged Project Increments Revenue Calculation for this Project. B. Developer shall have the option to postpone the first Pledged Project Increments Revenue disbursement to the following year at Developer's option with written notification provided to the CRA in advance of the disbursement. C. For the first through fifth disbursements of the Pledged Project Increments Revenue, the Developer shall be entitled to 75% of the Project Increment Revenues. For the sixth through tenth disbursements, the Developer shall be entitled to 25% of the Project Increment Revenues. Section 6.2 is amended to read as follows: 6.2. Commencement and Conditions of Funding. The ten (10) year term for each Phase for the receipt of Pledged Project Increments Revenue shall commence in the year that the following conditions are met: A. The Project is Substantially Complete; B. The completed improvements of each Phase have been placed on the Tax Roll; C. The CRA has determined that Project complies IA ith the commitments and with all of the terms and provisions of T Preserve - Cornerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3).doc 3 this Agreement; D. All requirements as set forth within this Agreement have been complied with by Developer; and E. The CRA has received Project Increment Revenues from such improvements. However, this Agreement and the initial ten (10) year term for each Phase for the Receipt of Pledged Project Increments Revenue shall be automatically extended for an period of time equal to each year that funds are not disbursed to Developer by the CRA for reasons other than the failure of Developer to comply with the Affordable Access Requirements of this Agreement. Section 8.5 is amended to read as follows: 8.5. Notices and other Communications. Whenever it is provided herein that notice, demand, request, consent, approval or other communication shall or may be given to, or served upon. either of the parties b) the other (or any recognized mortgagee), or whenever either of the parties desires to give or serve upon the other any notice, demand, request, consent, approval or other communication with respect hereto or to the Project, each such notice. demand, request, consent, approval or other communication (referred to to this Section 9.4 as a "Notice ") shall be in writing (whether or not so indicated elsewhere in this Agreement) and shall be effective for any purpose only if given or served by (i) certified or registered United States Mail, postage prepaid. return receipt requested, (ii) personal delivery with a signed receipt or (iii) a recognized national courier service, addressed as follows: If to Boynton Village: Boynton Village, LLC c/o Cornerstone Group Development, LLC Attention: Leon Wolfe 2100 Hollywood Boulevard Hollywood, Florida 33020 With Copies to: Michael Weiner. Esq. Weiner & Lynne, P.A, 10 SE l s' Avenue Delray Beach, Florida 33444 If to CRA: Boynton Beach Community Redevelopment Agency 1 isa Bright, Executive Director 915 South Federal Highway Boynton Beach, Florida 3343'1 T \DEVELOPMENT'The Preserve - Cornerstone \Preserve D1FA \DIFA Second Amendment - 2010 (3) doc 4 With Copies to: James Cherof, Esq. Goren, Cherof, Doody & Ezrol 3099 E. Commercial Blvd. Suite 200 Ft. Lauderdale, FL 33308 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. SIGNATURES ON FOLLOWING PAGE T \DEVELOPMENT\The Presen e - CornerstonclPreserve DIFA \DIFA Second Amendment - 2010 (3),doc 5 WI ESSES BOYNTRN VILLAGE, LLC A• ■rirmi-Thic. 40 ... i. ,,,,... By: ‘...._. Print name: fr- .- Print name: 1\114-, . S (Y) 4-6 Eic Title: V P , f\, Date: , , ,'• --,,,. r - A '\■) ' Aeil ' - • Ark.:A....A _ Print name-, BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Ala, B - -- or -Am— --- - - __ 71 ____• __ _ti Print name: Y 4jgoo e Print n e: • • ' oUt.r I f, u e .._ >.. A.-.4 itle: Chairperson , , /v ..L.r._ ......- Date. ol,,,,/2.(f-//0 Print name: /e,e.....4 4 T \DEVELOPMENT\The Preserve - Cornerstone \Preserve D1FA1D1FA Second Amendment - 2010 (3) doc 6 STATE OF FLORIDA • W p SS: COUNTY O BEFORE ME, an officer duly authorized b ' t m ister oa s :4d take ack owled ments, person l ly appeared L or : s C / Of / ��L/� �- and acknowledged under oath that he /sJ},e has exe the foregling Agreement as the proper official of , for the use and purposes mentioned herein and that the instrument is the act and deed of . He /she is personally known to me or has produce4 as identification. IN WITNESS o F THE FOREG I �„ I hav � hand and official seal at in the State and County a'or .aid on,this ay of (2-C , 2008. / S ARA P UB * MY COMMISSION a as 7a3394 iota ry State of Florida at Statf Floridt Lar a 7 EXPIRES: Apnl28, 2012 Large of „de Hon ?5d Thu Budget Notary SeNU;e My Commission Expires: STATE OF FLORIDA SS: COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take aanowledgments, personally appeared 12Q(th P - as b Qtrrtkoun of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, and acknowledged under oath that he /she has executed the foregoing Agreement as the proper official of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, for the use and purposes mentioned herein and that the instrument is the act and _,.s(eed of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. /she �s personally known to or or has produced as identification. IN WITNESS OF THE FOREG • G, I hav set m hand and official seal at in the State and County aforesaid on this JJ • ay of , Thee 02010 / // / otary Public, State o Florida at Large M) Commission Expires: , MESA c of Mode t ` o My Comm. 6gbs Jan 11. 2014 7'1- Commission # 00 951135 4 Mna, T ss , NMIaW Noisy Mai. T:\ DEVELOPMENT \ The Preserve - Comerstone \Preserve DIFA\DIFA Second Amendment - 2010 (3).doc 7 EXHIBIT "C -1" Rental Rate List I 2- Bedroom units: $924.00 /month 3- Bedroom units: $1,059.00 /month Rental Rates are subject to annual adjustment based upon HUD's annual release of incomes for Palm Beach County T \DEVELOPMENT1The Preserve - Cornerstone \Preserve DIFA \DIFA Second Amendment - 2010 (3) doc Exhibit "E" Pledged Project Increments Revenue Formula Examples # of Affordable # of Affordable Access Access 'Rental) Units (Rental) Units Sold Sold and /or Rented % of Eligible TIF and/or Rented % of Eligible TIF 3 2% 78 52% 6 4% 81 54% 9 6% 84 56% 12 8% 87 58% 15 10% 90 60% 18 12% 93 62% 21 14% 96 64% 24 16% 99 66% 27 18% 102 68% 30 20% 105 70% 33 22% 108 72% 36 0 24 111 74% 39 26% 114 76% 42 28% 117 78% 45 30% 120 80% 48 32% 123 82% 51 34% 126 84% 54 36% 129 86% 57 38% 132 88% 60 40% 135 90% 63 42% 138 92% 66 44% 141 94% 69 46% 144 96% 72 48% 147 98% 75 50% 150 100% T: \DEVELOPMENT\The Preserve - Comerstone\Preserve DIFA \DIFA Second Amendment - 2010 (3).doc 9 BOYNTONZt BEACH RA CRA BOARD MEETING OF: November 13, 2012 Consent Agenda Old Business X New Business j ; Legal I Executive Director's Report SUBJECT: Consideration of Uses for Additional Funds Available Through Bond Refunding — Resolution No. 12 -08 — Budget Amendment No. 2 — FY 2012 -2013 SUMMARY: At the CRA Board meeting on October 9, 2012, the Board approved R12 -07 finalizing the Bond Refunding Series 2012 realizing interest rate savings of $2.6 million over the 14 year life of the loan at a net present value of $1,182,292. Annual interest rate savings are over $200,000 annually over the first 12 years of the 14 year maturity. Attachment 1 shows the annual savings including $203,067 in FY 2012 -2013. Staff recommends the following allocation of additional funds (Attachment 2): 1. $45,640 — Includes merit pool of 5 %, position reclassification and incremental taxes and benefits (FICA taxes, long term disability (dependent on salary and age) and retirement). 2. $157,427 — Parking Redevelopment Planning — bringing total new budget funding to $435,851. 1. $45,640 - Recommended merit pool of 5% & Reclassification - the last merit pool approved was in FY 2007 -2008 and based on the recession and impact of revenue decreases, no further merit increase funding has been approved by the Board. In addition, in FY 2010 -2011, retirement benefits for all employees were suspended for one year resulting in an incremental effective drop in employee benefits of 6 %. If the Board approves the recommended merit pool of 5 %, taxes, long term disability and retirement benefits will increase. As shown on Attachment 3, the total impact on the budget is $45,640 ($26,640 merit pool, $10,000 job reclassification, $9,000 for taxes and benefits). In addition to the recommended merit pool, the Executive Director is reclassifying one position due to the intensified business economic redevelopment efforts in the CRA district. The position of Marketing, Events & Economic Development Assistant is being vacated and the employee in that position will be reclassified to Business Development Specialist. This position is on the approved Position Classifications & Salary Ranges chart (Attachment 4- includes job description) and has been unfilled. This position is exempt and reports to the Executive Director. The position is reclassified at the mid -point in the range, or $55,000. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 20121Budget Amendment - R12 -08 -Uses of Bond Refunding Savings.doc BOYNTON rp mom BEACH Niiiisso 2. $157,427 - Parking Redevelopment — If approved the total budget for this project will be $435,851. The funding will allow for (1) Proposed Parking Lot at NE 1 Avenue and NE 1 Street at an estimated cost of $385,000 and (2) Proposed Resurfacing of City Parking Lot at NE 4 Street at an estimated cost of $50,851. The cost includes design, engineering, and infrastructure costs. Resolution No. 12 -08 is attached for the Board's review, direction and approval. FISCAL IMPACT: Allocation of $203,067 in Bond Refunding Debt Service Payment Savings. CRA PLAN, PROGRAM OR PROJECT: All Plans RECOMMENDATIONS /OPTIONS: Amend the FY 2012 - 2013 CRA Budget to: 1. Allocate $45,640 to provide Merit Pool of 5 %, including job reclassification, and incremental required benefit increases. 2. Allocate $157,427 for additional Parking Redevelopment. 3. Approve Resolution 12 -08, Budget Amendment #2 for FY 2012 -2013 Vivian Brooks Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board ■ ATTACHMENT 1 BOYNTON BEACH CRA AGGREGATE DEBT SERVICE REQUIREMENTS Tax Increment Refunding Revenue Bonds - Series 2012A & Unrefunded Total Prior YEAR BOA LOAN 2012B Bonds Series 2005B TOTAL Debt Service Savings FY 2012 -2013 $ 304,838 $ 537,770 $ 784,000 $ 681,975 $ 2,308,583 2,511,650 203,067 • FY 2013 -2014 $ 304,838 $ 527,675 $ 780,000 $ 686,165 $ 2,298,678 2,511,840 213,162 FY 2014 -2015 $ 304,838 $ 1,306,680 $ - $ 689,335 $ 2,300,853 2,515,010 214,158 FY 2015 -2016 $ 304,838 $ 1,311,666 $ - $ 686,485 $ 2,302,988 2,515,960 212,972 FY 2016 -2017 $ - $ 1,625,934 $ - $ 675,863 $ 2,301,797 2,515,863 214,066 FY 2017 -2018 $ - $ 1,628,550 $ - $ 674,675 $ 2,303,225 2,516,425 213,200 FY 2018 -2019 $ - $ 1,626,270 5 - $ 672,358 $ 2,298,628 2,512,858 214,230 FY 2019 -2020 $ - $ 1,628,197 $ - $ 673,910 $ 2,302,107 2,515,160 213,053 FY 2020 -2021 $ - $ 1,623,202 $ - $ 674,050 $ 2,297,252 2,511,300 214,048 FY 2021 -2022 5 - $ 1,629,438 $ - $ 672,778 $ 2,302,216 2,515,028 212,812 FY 2022 -2023 $ - $ 1,624,600 $ - $ 675,093 $ 2,299,693 2,513,593 213,900 FY 2023 -2024 $ - $ 1,627,942 $ - $ 670,713 $ 2,298,655 2,511,963 213,308 FY 2024 -2025 $ - $ 1,564,235 $ - $ 914,920 $ 2,479,155 2,514,920 35,765 FY 2025 -2026 $ - _ _ $ 1,569,168 $ - $ 908,590 $ 2,477,758 2,512,665 34,907 Total $ 1,219,351 $ 19,831,329 $ 1,564,000 $ 9,956,908 $32,571,587 35,194,233 2,622,646 Interest Rates 5.65% 2.56% 4.0% 4.6% - 5.6% T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting\FY 2012 - 2013 Board Meetings \November 2012\Additional Fund Uses - 02. New Debt Service Schedule & Savings ATTACHMENT 2 Boynton Beach CRA Proposed Budget Amendment #2 Re: Allocations of Debt Service Savings from Bond Refunding, Series 2012 Sources of Funds Debt Service Savings FY 2012 -2013 $ 203,067 Potential Uses of Funds 1. Merit Pool of 5% and Reclassification (includes FICA taxes and incremental benefit changes) - See attached detail $ 45,640 2. Parking Redevelopment Planning $ 157,427 $ 203,067 T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012\Additional Fund Uses - 02. Optional Uses BOYNTON c wiemBEACH JOB TITLE: BUSINESS DEVELOPMENT SPECIALIST CLASSIFICATION: EXEMPT SUPERVISOR: CRA EXECUTIVE DIRECTOR WRITTEN: 11/05/2012 OBJECTIVE Performs responsible, professional work, to assist in the economic development of the CRA District. Employees in this class are responsible for self- directed work programs that may involve recruiting of local businesses, redevelopment or related economic and business issues, providing assistance to business prospects and /or existing businesses in the relocation, permitting and regulatory processes. ESSENTIAL FUNCTIONS Provided herein is a general description of duties that may be assigned by the supervisor. CRA Executive Director reserves the right to establish, assign, reassign, and redistribute work to meet business needs. The statements herein do not preclude management from assigning other duties similar in nature, complexity, and responsibility to any position within this classification. The following is a general description of duties. The Executive Director may assign other duties and responsibilities as needed. • Establishes effective working relationships with local businesses, community groups, City employees, management, elected officials, service providers, media representatives and other parties with Small Business Development interests and interactions. Serves as liaison with district businesses. • Collects and prepares statistical data for analysis to promote the CRA District as a competitive market for businesses to locate /relocate /expand. • Provides research to aid in the identification of industry groups to target market with plans and implementation for programs. • Supports relationships with local, regional and national media to achieve story placement. • Oversees budget for special projects requiring CRA fiscal support. • Develops marketing initiatives to promote businesses. • Provides customer service and assistance to new and existing business owners, participants and the general public; resolves sensitive issues and problems; and provides information regarding programs, policies and services. • Conducts site visits and monitors business results. • Performs customer service, marketing and public relations activities to promote awareness, interest and participation in economic development programs. • Develops incentive programs and materials including booklets, brochures, forms and handbooks and coordinates the production and distribution of promotional materials with the Marketing Director and the Executive Director. • Prepares and /or reviews a variety of operational records including application statistics, customer surveys, program participation records, job creation. Analyzes report/records information for use in economic development planning, submits reports to management as required by Supervisor, prepares items for CRA Board agenda, and presents information upon request. • Updates the internal and external website content on a regular basis, assuring that graphics and information for web distribution are updated timely and are accurate. Tracks and assists with periodic updates of the economic development database and associated maps, and communicates updates to external agencies as requested by Supervisor. Tracks business activity through multiple City departments. • Attends various meetings, serves on assigned committees, and /or presents information as needed. Participates in workgroup meetings and City meetings as needed. Coordinates with City departments on economic development activities as needed. • Performs customer service functions in person, by telephone, and by written communications as needed. • Provides assistance and information related to business expansion, location, use, taxation, procedures, fees, forms, permitting activities, inspections, research of records, documentation, procedures, or other issues. Responds to routine questions, complaints or requests for service and initiates problem resolution. • Prepares or completes various forms, reports, correspondence, records, training materials, presentations and other documents. • Performs basic administrative duties including written reports, memorandums, letters, and electronic correspondence, interaction with others, and communication through telephone and meetings. • Maintains confidentiality of departmental issues and documentation. • Performs other duties as assigned. KNOWLEDGE, SKILLS AND ABILITIES • Thorough knowledge of the economic development process, including the design, implementation and evaluation of marketing strategies. • Thorough knowledge of federal, state and local laws, regulations, policies and procedures relating to economic development. • Ability to work both independently and with direction. • Ability to exercise judgment and discretion in applying laws, regulations, policies and procedures. • Ability to establish and maintain effective inter- and intra - governmental business and professional associations. • Knowledge of the principles and practices of public or business administration. • Ability to make decisions recognizing established precedents and practices and to use resourcefulness and tact in solving new problems. • Strong written and oral communication and interpersonal skills, to include the ability to develop effective proposals, prepare and maintain accurate records and reports, and public speaking skills. • Strong time - management skills, project management skills and ability to meet deadlines. PREFERRED QUALIFICATIONS Bachelor's degree from an accredited college or university with a major in Business, Economics or Public Administration and at least three (3) years of relevant experience in business /industrial development or a directly - related field; or an equivalent combination of training, education and experience. Must possess and maintain a valid Florida driver's license. RESOLUTION NO. 12 -08 A RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, TO AMEND THE 2012 -2013 BUDGET TO REALLOCATE DEBT SERVICE PAYMENT SAVINGS FROM BOND REFUNDING SERIES 2012; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Boynton Beach Community Redevelopment Agency Board (hereafter "CRA ") has adopted the fiscal 2012 -2013 budget and does allow program changes as necessary; and WHEREAS, it is the objective to maintain accuracy of the budget document to reflect policy determinations of the Board as to the proper and legally defensible appropriation of funds authorized by the Community Redevelopment Plan; and WHEREAS, the CRA Board approved Resolution No. R12 -04 on September 11, 2012 approving the Fiscal Year 2012 -2013 budget; and WHEREAS, the CRA Board approved Resolution No. R12 -07 on October 9, 2012 finalizing the Bond Refunding Series 2 -012; WHEREAS, budgeted debt service payments are $2,511,650 for FY 2012 -2013 and new debt service payments for FY 2012 -2013 as a result of the Bond Refunding are $2,308,583; and WHEREAS, the debt service payment savings for FY 2012 -2013 from the Bond Refunding totals $203,067.00; and WHEREAS, the Director of Finance, based on the Board's policy determination has identified certain line item appropriations that require budget adjustments hereinafter reflected. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY THAT: SECTION 1. The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby incorporated herein. SECTION 2. The CRA hereby decreases General Fund Transfer to Debt Service by $203,067. The CRA Board will reallocate the debt service payment savings of $203,067 as specified at the Board Meeting on November 13, 2012. A copy of the 2012 -2013 budget amendment is attached hereto as Exhibit "A ". SECTION 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. SECTION 4. If any clauses, sections, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 5. This Resolution shall become effective immediately upon its passage and adoption. PASSED AND ADOPTED BY THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD, THIS DAY OF , 2012. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: Woodrow Hay, Chair Approved as to form: James Cherof CRA Attorney 00 \ \\\ 2b fGf §b z� 4 __ ^ oo� k la \kk\ § § \ � - u 1 � \ __ __ W . R 0 /k § \ w§ K }( W §§ a. it 4 -®-® . ILI 1 § § { CO k 0) CO 13 G e 0 0 00 / 2 ® « § 0 1 } \ LL � f < ( 01 to � w �� Ce Z k ƒ F = O. & ]o k\ k 0 ; �� z x g U) n� §f W W c c k /\ 2 z 22 - \ /! 0 o e - . a x x � � # ®/ E CO Cr) .-qr ƒ< z CSI . )1- . j N % o/ C §\ LL § k§ \ • 1- ce k k cn � al / k § c) £ IS c. §o w 0 fb b L J 0 0 &�\(k 2 22/ . . 2 - - - - Q 0 § « w&0� � L §E ■ 2 . .r,@ 8� 2 aa. 2 % �§ d To ■ - �G l2 § = \ k colk a (� ATTACHMENT 3 BOYNTON BEACH CRA SALARY SCHEDULE FISCAL YEAR 2012 -2013 YEARS OF CURRENT NAME SERVICE POSITION SALARY BROOKS, VIVIAN 7.7 EXECUTIVE DIRECTOR $ 115,000 HARRIS, SUSAN 7.0 FINANCE DIRECTOR $ 85,964 SIMON, MICHAEL 5.7 DEVELOPMENT DIRECTOR $ 80,983 WALSH, MARGEE 7.3 MARKETING DIRECTOR $ 69,414 BISCUITI, KATHY 6.0 SPECIAL EVENTS DIRECTOR $ 65,943 HILL, VICKI 1.9 FINANCE ASSISTANT $ 64,000 UTTERBACK, THERESA 3.6 ADMIN. SERVICES MANAGER $ 51,500 ENGLISH, HEATHER 1.8 MKTING /EVTS /ECO DEV ASST $ 45,760 FY 2012 -2013 $ 578,563 I 5% Merit Pool (excl. Reclassification) $ 26,640 Reclassification: Mkting /Evts /Eco Dev Asst to Business Development Specialist $ 10,000 Sub -Total $ 36,640 FICA Taxes Incremental Increase $ 3,000 Incremental LTD Increase $ 500 Incremental Retirement Increase $ 5,500 Sub -Total $ 9,000 Total $ 45,640 Note: Proposed Total Salaries FY 12 -13 $ 615,203 CRA Merit/Promotion Pool History FY 2007 -2008 8% Merit Pool FY 2008 -2009 4% COLA FY 2009 -2010 0% FY 2010 -2011 Retirement Benefits Suspended (effective 6% decrease) FY 2011 -2012 0% T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting\FY 2012 - 2013 Board Meetings \November 2012\Additional Fund Uses - 04. Salary Worksheet n o o_ o o_ 0 0_ o o_ o o_ o o o o o_ 0 0 o o_ O O O t0 'c O N o 1r) l0 2 1 O a 0o 0o c) 0o ti d O co CI 2 w w w w w w w w w w co 0 C LL 1— 0 0 0 0 0 0 0 0 0 0 !Y Z 0 O O O 0 O O a O O O To Z d (0 ti 10 M CO ~ CO CO 0 3 N c O W G X g g w w w w w w w w w w Q o 0 0 0 0 0 0 0 0 0 a� 0 0 00 0 0 0 0 0 0 H D 0 0 O O o 0 0 0 0 0 E Q N CI 1 V � d M o in w w 40 IA w w w w w w O1 0 E N N W W W Z W W W Z W m W J o U. CO o Z N Q 0 (N IAL/ O } « IL u. LL> W LL W W LL > N Cd ti )-- LL IC E a c co CD � cc CO ad 48 N fp .+V C E m U) :1 C o LL co 0 y N L to Y! `) 0 U 10 Q 0 co o 0 CT c • y C m a m y o to E N (� Z En a g c LL .+ A y C m o I in C o d 01 •.. - E O 0) W d' v v H N U) 0 V c ) i ll N rn d r o c O 0 • 6 N f Q� 4. V O) > > 1Z a.. V y > > a) ` — c d W otl m 0 . y r t+ E 0 z E . 0 co . a: 0 d c in" H CJ _ c o c co Y 'c� o c E E o N w co c co co a c c . a w Q W 0 CO 2 2 to ii 'u. < < E CL ,- x 0 o (0 1.- CO r) 0 0 rn CO c 2 � > 1- vi t ru r- .- ri O H Z z _ z 2 •• E Q o. m 0 x z O O 11 w 0 u. _ a LL z W 1`o Z Z o v c OU W 0 0 N vi CO m H c Q o m m ° z _Ic ea U o li w co Z .c . y y . ° ? . ' � ' y -' y m N IC LL F C o c C t0 V - a N_ t 11 2 o W W 3 m = - 1 0 = u- > N f/1 m 41 d = N CI c y 11 11 J y N . 4, V y LL> lL m 2 1 2 Y d > F L - > =I LI BOYNTON CRA =BEACH CRA BOARD MEETING OF: November 13, 2012 1 Consent Agenda Old Business 1 X New Business 1 Legal 1 I Executive Director's Report SUBJECT: Consideration of Issuing an RFP /RFQ for the Sale and Redevelopment of 211 E. Ocean Avenue SUMMARY: At the August 22, 2012 CRA Budget meeting, the Board made a policy decision to move forward with selling the Oscar Magnusan house (211 E. Ocean Avenue). Staff has crafted an RFP /RFQ for issuance upon the Board's approval. Staff added the new Tier One uses from the Economic Development programs as additional allowable uses: • Restaurant • Gourmet Food Market • Bakery • Clothing Boutique - clothing, shoes & accessories • Home Decor /Design - home furnishings, art galleries, kitchen wares • Specialty Businesses - stationery, gifts, sporting goods, personal care - Pilates /yoga studios, fitness centers and salons Staff also added the option of leasing the property. The proposals will be ranked on the following criteria: 1. Business concept and how it will advance the redevelopment of the downtown? How will it attract visitors, create jobs, etc. (30 points) 2. Ability to start the project in a timely manner. (20 points) 3 Financial strength of proposer based on submitted financial documentation. (30 points) 4. Completeness of business plan. (10 points) 5. Offer purchase or lease price on the property. (10 points) The RFP /RFQ's will be due on February 15, 2013 and will be presented to the Board for consideration on March 12, 2013. FISCAL IMPACT: None. CRA PLAN, PROGRAM OR PROJECT: Downtown Vision and Master Plan T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 20121RFP 211.doc BOYNTON c R aiiiiii B EACH RECOMMENDATIONS /OPTIONS: Issue the RFP /RFQ for 211 E. Ocean Avenue with any recommend changes from the Board. Vivian L. Brooks Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board . ..ani...,e.,,tio. 9n19 \RFP 911 ring BOYNTON BEACH 1 cRA REQUEST FOR QUALIFICATIONS AND PROPOSALS The Boynton Beach Community Redevelopment Agency (CRA) is seeking proposals and qualifications from experienced and qualified business operators interested in the redevelopment of a historic property in downtown Boynton Beach. The Boynton Beach CRA owns the property located at 211 E. Ocean Avenue (See Attached Aerial. Map of Site). On the property is a two story historic structure that the CRA desires to remain on site and convert to a use that is consistent with creating an active downtown area. Uses for the property that the CRA Board would encourage are: • Restaurant • Gourmet Food Market • Bakery • Clothing Boutique - clothing, shoes & accessories • Home Decor/Design - home furnishings, art galleries, kitchen wares • Specialty Businesses - stationery, gifts, sporting goods, personal care - Pilates/yoga studios, fitness centers and salons The CRA is prepared to offer financial assistance with build -out in the amount of $185,000 to the successful proposer. Additionally, the CRA's Economic Development Grant programs ( http:// www. boyntonbeachcra.com/businesses/) may be accessed to offset the cost of renovating the property. Background The CRA adopted the Downtown Vision and Master Plan in 2009. (http: / /www.boyntonbeachcra. com /wp- content/themes /BoyntonBeachCRA /downloads /FINAL_DMP 1- 15- 09.pdf) It is expected that this project will help to implement and further the Downtown Vision and Master Plan. The CRA and City of Boynton Beach have invested millions of dollars to improve the downtown area. The City recently renovated and expanded its library at the western end of East Ocean Avenue. Additionally, the City is working to redevelop the Old High School also at the western end of East Ocean Avenue. Additionally, the CRA just completed a new amphitheatre on Ocean Avenue where the CRA holds over 20 events during the year. East of the site the CRA just completed a restaurant project called The Little House. The CRA is also in the process of renovating the marina where Two Georges and The Banana Boat restaurants are located. This is intended to bring tourists and visitors to the area. There is significant new residential development within the area with Marina Village, The Promenade, Las Ventanas and Seabourn Cove which have added over 1,570 new residential units to east Boynton Beach. The Project The project would be housed in an early1900's structure that is one of the oldest houses in Boynton Beach (See Attached Photos). It is situated at 211 E. Ocean Avenue. The location has direct access to the towns of Ocean Ridge and Gulf Stream. The building is situated on a large garden lot approximately 1/3 acre in size with a mature tree canopy. The CRA has commissioned conceptual drawings to give potential proposers an idea of how the space can be utilized as a full- service restaurant with a full kitchen, two handicap accessible restrooms, covered seating for up to 112, garden seating for up to 44, for a total seating count of 156 (See Attached Conceptual Layout and Rendering). Eleven on- site parking spaces can be accommodated on the property. However, City code does not require any parking and there is a City parking lot one lot over from the site. Additionally, the CRA is developing a public parking lot just behind the site and creating a walkway from the parking lot to Ocean Avenue just to the east of the restaurant site (See Attached Aerial Map of Future Parking Lot). The CRA is prepared to offer the property for sale or on a lease basis to the best qualified respondent who has the best response to the RFP with the following terms of sale or lease: 1. The property shall carry a deed restriction that states that the structure on the property can not be torn down or the street - frontage altered significantly without permission from the CRA. 2. Design changes to the building and site shall be approved by the CRA and City. 3. The CRA shall have the first right of refusal in the event of a future sale. 4. The property must remain the original proposed use unless granted approval from the CRA for a different use. REQUIRED DOCUMENTATION FOR SUBMITTAL Any proposal submitted without all required documentation will be rejected and will not be considered by the CRA. In order for the CRA to consider a proposal the following required information must be received by the CRA no later than FEBRUARY 15, 2013 at 3:00 p.m. at the CRA offices located at 710 N. Federal Highway, Boynton Beach, 33435. No e -mail or fax submittals will be accepted. ALL DOCUMENTATION MUST BE SUBMITTED TO BE CONSIDERED A RESPONSIVE PROPOSAL! DOCUMENTATION 1. Business Plan — Must include the following elements: a. Executive Summary b. Company Ownership c. Business Concept d. Market Analysis e. Marketing and Sales Strategy i. Sales Forecast — Monthly and Yearly f. Management Summary g. Financial Plan i. Funding Sources - For build -out and operations ii. Break -even Analysis iii. Projected Profit and Loss — Monthly, Yearly, Gross Margin Monthly, Gross Margin Yearly Over a Five Year Period iv. Projected Cash Flow Over a Five Year Period v. Projected Balance Sheet Over a Five Year Period vi. Business Ratios 2. Proof of Existence of Build -Out Funding (Include in Separate Envelope Marked Financials) — Forms of proof must be in the names of the principals or the submitting corporation. Acceptable forms of proof include but are not limited to: a. Bank Statements b. Retirement Accounts c. Approved Loan or Line of Credit 3. Proof of Available Working Capital for a Minimum of One Year (Include in Envelope Marked Financials) — The amount must relate to the amount listed in the business plan. Acceptable forms of proof include but are not limited to: a. Bank Statements b. Retirement Accounts c. Approved Loan or Line of Credit 4. Credit Reports for all Principals (Include in Envelope Marked Financials) — cannot be older than 6 months. 5. 2010 and 2011 Personal Tax Returns for Principals - (Include in Envelope Marked Financials) 6. 2010 and 2011 S -Corp or Corporate Tax Returns if Applicable (Include in Envelope Marked Financials) 7. Purchase Price or Lease Offer for the Property marked as such on a separate sheet paper. RANKING OF PROPOSALS The CRA staff will rank the qualified proposals on the following criteria: 1. Business concept and how it will advance the redevelopment of the downtown? How will it attract visitors, create jobs, etc. (30 points) 2. Ability to start the project in a timely manner. (20 points) 3 Financial strength of proposer based on submitted financial documentation. (30 points) 4. Completeness of business plan. (10 points) 5. Offer purchase or lease price on the property. (10 points) The CRA staff will make a recommendation to the CRA Board and the CRA Board will consider the proposals, at the regularly scheduled meeting TUESDAY, MARCH 12., 2013 at 6:30 pm. Buyer broker participation is permitted. However, the CRA will not pay a broker commissioner. All questions regarding this project should be addressed to Vivian Brooks at brooksvi(abbfl.us in writing only. Attachments: 1. Aerial Map of Site 2. Photos 3. Conceptual Layout and Rendering 4. Aerial of Future Parking Lot Area Print Page Page 1 of 1 T. 4 4 „, ' 1 - ME 1st Ave 1 st Ave ;;, 1 i • +Y .., r .... ,. t i ,; .: ..). 4 ill ,20. ... 14l WlI ti:.r 1 = = w - c ,. 11111 ; ri - , ,, jj • lilt k• E Ocean Ave E Ocean Ave ' ' it '�'� ' " 1 t i - — -‘ ' ... It if r .. 4 , i ; _ . 0 i , e , . i . Or c . 211 East Ocean Avenue z :; produced by papatps •w . 4• 'R .ot.. al .) y ., - F, : . . ,,,,, ,, ........ „,,,,,,a1 le „All .. i ,. 11110 idh R , 14 4111 I . 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IIII ,- istAve St '1st Ave * : Future Parking Lot - NE 1st Ave. & NE 1st St. "f A 4.. ... produced by: papagis •re.i.0- BOYNTON CRA =BEACH CRA BOARD MEETING OF: November 13, 2012 1 Consent Agenda Old Business 1 X New Business 1 1 Legal 1 1 Executive Director's Report SUBJECT: Consideration of Approval of Resolution 12 -09 Waiving the CRA's Right to Declare a Default of Direct Incentive Funding Agreement ( "DIFA ") between the CRA and Boynton Waterways Investment Associates, LLC and Consenting to Assignment of the DIFA to CJUF III Promenade SUMMARY: The Promenade DIFA was originally designed to create a public private partnership wherein the public benefits were to be affordable housing, below market retail space, public parking (111 permanent first come, first served spaces) and public pedestrian walkways. The DIFA has been amended to remove the affordable housing deliverable. The Promenade project is being considered for purchase by CJUF III Promenade LLC from Boynton Waterways Investment Associates, LLC. Prior to consummation of the transaction, CJUF would like a waiver of the CRA's right to declare a default of the DIFA and the CRA's consent to the assignment. If the DIFA is not assigned by Boynton Waterways to a new owner and the property goes into receivership through foreclosure, the entity of Boynton Waterways would cease to exist under Section 8.1.2. of the DIFA resulting in a default. In the event of a default, the CRA may at its option terminate the DIFA. If the Board terminates the DIFA, the public parking will be lost. As of this fiscal year, the CRA will have paid Boynton Waterways $937,596 for three years of the ten year DIFA term. Over the term of the DIFA the CRA could potentially pay out $3.7M. The CRA attorney has reviewed the terms of the DIFA and the request from CJUF and has determined that the request may be granted by the CRA Board at its discretion. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: Federal Highway Corridor Community Redevelopment Plan RECOMMENDATIONS /OPTIONS: Vivian L. Brooks Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 20121Promenade No Default DIFA.doc RESOLUTION NO. 12 -09 A RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, WAIVING THE CRA'S RIGHT TO DECLARE A DEFAULT OF THE DIRECT INCENTIVE FUNDING AGREEMENT ( "DIFA ") BETWEEN THE CRA AND BOYNTON WATERWAYS INVESTIMENT ASSOCIATES, LLC; CONSENTING TO ASSIGNMENT OF THE DIFA TO CJUF III PROMENADE LLC; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Boynton Beach Community Redevelopment Agency Board (hereafter "CRA ") is party to a Direct Incentive Funding Agreement ( "DIFA ") dated April 25, 2005 with Boynton Waterways Investment Associates, LLC'; and WHEREAS, the Boynton Waterways Investment Associates, LLC is party to litigation which may result in foreclosure of the property which is the subject of the DIFA ( "DIFA Property "); WHEREAS, CJUF III PROMENADE LLC, a potential successor in interest to Boynton Waterways Investment Associates, LLC's rights in the DIFA Property and the DIFA benefits, has requested assurances from the CRA that its acquisition of the property which is the subject of the litigation and the DIFA will not result in the declaration of as default of the DIFA by the CRA; WHEREAS, the CRA finds it to be in the public interest and the advancement of the CRA Plan to accommodate the request for waiver of default. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY THAT: SECTION 1. The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby incorporated herein. SECTION 2. The CRA hereby waives its right to declare a default of the DIFA resulting from foreclosure of the property in Wells Fargo Bnk, National Association v. Boynton Waterways Investment Associates, LLC, et al., in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, Circuit Court Case No. 50- 2012 -CA -8129, Division AE. 1 The DIFA has been since amended on several occasions. SECTION 3. The CRA consents to assignment of the DIFA to CJUF III PROMENADE LLC, conditioned only on written unconditional acceptance and assumption of the DIFA by CJUF III PROMENADE LLC. SECTION 4. If any clauses, sections, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 5. This Resolution shall become effective immediately upon its passage and adoption. This Resolution will be automatically rescinded if the foreclosure of the property and the transfer of interest to CJUF III PROMENADE LLC is not finalized by March 15, 2013. PASSED AND ADOPTED BY THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD, THIS 15 DAY OF NOVEMBER, 2012. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: Woodrow Hay , Chair Approved as to form: James A. Cherof CRA Attorney H: \_ ATTY MISC LEGAL\JAC 453\ 880508 \BBCRA RESOLUTIONS\Promendade DIFA waiver and consent v2.doc BOYNTON cA =BEACH CRA BOARD MEETING OF: November 13, 2012 Consent Agenda I I Old Business I X I New Business Legal I I Executive Director's Report SUBJECT: Consideration of Entering into a Contract with CRA Professional Services Provider, Kimley- Horn & Associates, Inc. for the Design and Engineering of the Proposed Parking Lot located at the NE Corner of NE 1 Avenue & NE 1 Street. SUMMARY: As part of the FY 2012 -2013 budget, the CRA Board has approved funding for the construction of a surface parking lot on Agency owned property located at the NE corner of NE 1st Avenue and NE 1 Street (see Attachment I). The CRA acquired the former 208 NE 1 Street and 201 NE 1 Avenue parcels in FY 2006 -2007 to be used as part of a long range plan to provide additional parking to the future Old High School and downtown redevelopment projects. CRA staff has identified an opportunity to provide a pedestrian sidewalk connector within the City of Boynton Beach right -of -way that exists along the eastern edge of the Magnuson House (211 E. Ocean Ave) property and extends north from E. Ocean Avenue & NE 1 Street (see Attachment II). This sidewalk connector would link the proposed parking lot on NE 1 Street to the businesses and activities along E. Ocean Avenue. The attached contract with Kimley -Horn & Associates, Inc. provides for professional design, landscaping, site work and engineering services required to produce the construction documents necessary for the proposed parking and sidewalk structures. The contract also identifies professional services for lighting and electrical design, permitting and cost estimating. Additionally, the contract provides for assisting staff with the documentation necessary to obtain the land use and zoning changes necessary to convert the property from the existing residential designation to public use for conversion to the parking lot. FISCAL IMPACT: $31,900 from Project Fund Account #02- 58100 -203 CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Downtown Master Plan RECOMMENDATIONS /OPTIONS: Approval of Entering into a Contract with CRA Professional Services Provider, Kimley -Horn & Associates, Inc. for the Design and Engineering of the Proposed Parking Lot located at the NE Corner of NE 1 Avenue & NE 1 Street in the amount of $31,900. Vivian L. Brooks Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS \Completed Agenda Item Request Forms by Meeting \FY 2012 - 2013 Board Meetings \November 2012 \Contract with Kimely Horn for parking lots.doc Print Page Page 1 of 1 IL , 1 --- Ft .--,,-- irmr .. Itir ..... . ''' , z # _ •4 m i * U) .... • ill 44400 I t ( " . . ' 4 lir ' .tat. • NE ilst Ave . ttt. ilu i 1 4., .. II" , "kr ' ,• '4.49 (7) T1 5 g I S 4 1 • alli 0 -.44/1111/11 4artraPpiggiga' 1141 , 1 if 1 *. 11 • _ ,... * if 4 '40 ' AM Proposed Parking Lot at NE 1st Ave & 1st St produced h> paingls htin•//.1.11 f./1 rt fl Ilt• /TV111.11 ' A L .1-1c /r,11-1.1177C/11,;r0;71li 1 ,I,N, 1 1 , c mil 1 ■ Print Page Page 1 of 1 ii itin Al N E ■1st Ave o Ifilltit, , , WO= w, MIS 1. Z l .wr 4 ° 4III. Will I 1 VO AXs W 4 Nil — .fix r i r MI • l ii . .w ` al" IN. . jaii, � EtOcean Ave (Ocean Ave ti 0 r -MI 1- finii k a 46 eli .. It Mil // Proposed Sidewalk Connector v. -'� - � produced by: papagis . httn• / /unvur rn nalm_hearh fl nc /nana /Acne /nanacric/nrintincr/lavnnt acme' 1 1 /5/701:1 C ms„ Kimley -Horn and Associates, Inc. October 25, 2012 Ms. Vivian Brooks, Executive Director Boynton Beach CRA 710 N. Federal Highway Boynton Beach, FL 33435 Re: Parking Lot Project at NE l St and NE l Ave and Sidewalk Path at NE 2 St City of Boynton Beach, Palm Beach County, Florida Design Services Proposal Dear Ms. Brooks: Thank you for the opportunity to be a part of your team on this project. Kimley -Horn and Associates, Inc. ( "KHA ") is pleased to submit this agreement (the "Agreement ") to Boynton Beach Community Redevelopment Agency ( "the Client" or "CRA ") to provide professional consulting services for the above - referenced project. Pursuant to our discussions, below is our scope of services and associated fees for the site development services. PROJECT UNDERSTANDING The project is described as the development of a new parking lot at NE 1 St St and NE 1 Ave with landscaping and lighting and a path in the existing NE 2nd St right -of -way between NE l Ave and Ocean Ave. The scope of services is based on the following assumptions: • Relocation of franchise utility facilities or other utilities is not anticipated or included. • Surface water management permitting is limited to a 10/2 Self- Certification Permit with the Florida Department of Environmental Protection (FDEP). • An updated boundary and topographic survey for each area will be provided by the Client. The survey shall include topography of the existing site, extending a minimum of 25' beyond the property line, existing palms and trees 3" DBH and larger, all structure and pipe information for existing drainage, sewer, and other above ground improvements. The Client's Surveyor shall provide the survey in PDF format, AutoCAD 2011 format, and signed and sealed copies as necessary. • Permit, application, impact, inspection, and other such fees are the responsibility of the Client. • There are no wetlands or species of concern on the property. • Water use permitting for dewatering is anticipated to qualify for a No Notice permit and will be provided by the Owner's contractor, if required. • Irrigation water will be provided by a separate irrigation meter from the City. A water use permit is not required. • Specialty paving systems, hardscape, and decorative site amenities are not anticipated for the project and are not included in this scope of work. • No retaining walls are anticipated. Should they be required to facilitate building design conditions, the design will be provided by the Client's structural engineer or by KHA as additional services. C(♦in Kimley -Hom and Associates, Inc. Ms. Vivian Brooks, October 25, 2012, Page 2 • A traffic memo or study is not required. • The Client is responsible for coordinating construction bidding of the project. KHA shall supply a PDF for preparing bid sets, answer RFI's, and issue addenda during bidding related to the site development. • Completion and submittal of National Pollutant Discharge Elimination System (NPDES) permit and subsequent monitoring reports is not included in this scope of service and is the contractor's responsibility. • The project will be permitted and constructed in one phase. This scope of services and fee proposal anticipates that all design and permitting services will be complete within twelve (12) months following notice to proceed. Construction phase services shall be completed within 6- months following commencement of construction. SCOPE OF SERVICES Task 1— Preparation of Concept Plans KHA will prepare a maximum of two (2) concept plans for the parking layout. The concept plans will be provided to the CRA for review and comment. The scope of work includes a maximum of one (1) meeting with the CRA and City of Boynton Beach Planner to review the concepts. KHA will finalize the selected concept plan based on the CRA's comments. The selected concept plan will be used for the plans noted in tasks below and submitted to the City of Boynton Beach for Site Plan approval. Task 2 — Preparation of Engineering Plans and Agency Submittals Based on the selected concept plan, KHA will prepare engineering plans for the parking layout. KHA will complete surface water management calculations necessary for submittal to the appropriate permit agencies. The engineering plans are anticipated to consist of the following sheets: Parking Lot: • Cover Sheet • General Notes • Site Plan • Erosion and Sedimentation Control Plan and Details • Demolition Plan • Engineering Plan • Signing and Marking Plan • Construction Details NE 2 St Sidewalk Path: • Engineering Plan • Signing and Marking Plan KHA will prepare submittal packages to the following regulatory agencies: • City of Boynton Beach Site Plan • City of Boynton Beach Land Development Permit • City of Boynton Beach Right -of -Way Permit • FDEP 10/2 Self- Certification KHA will prepare the applications and submittal packages to the agencies listed above. KHA will coordinate with the agencies for responses to requests for additional information and to assist the Client in C � — TI and Associates, Inc. Kimley -Horn Ms. Vivian Brooks, October 25, 2012, Page 3 obtaining the permits listed above. Scope of work includes a maximum of one (1) response to reasonable review comments from the above referenced agencies. KHA cannot guarantee issuance of a permit by any agency. KHA will prepare an Opinion of Probable Construction Cost for the proposed work, including landscaping, irrigation, and lighting for the Client's budgetary purposes. Because the Consultant does not control the cost of labor, materials, equipment or services furnished by others, methods of determining prices, or competitive bidding or market conditions, any opinions rendered as to costs, including but not limited to opinions as to the costs of construction and materials, shall be made on the basis of its experience and represent its judgment as an experienced and qualified professional, familiar with the industry. The Consultant cannot and does not guarantee that proposals, bids or actual costs will not vary from its opinions of cost. If the Client wishes greater assurance as to the amount of any cost, it shall employ an independent cost estimator. Consultant's services required to bring costs within any limitation established by the Client will be paid for as Additional Services. Task 3 – Landscape Architectural Construction Drawings KHA will perform the following landscape architectural scope of services: A. Site visit to observe existing conditions, inventory existing trees, and assess potential design integration with surrounding spaces. B. Based on client input gathered at the start of the project, KHA will prepare the following construction documents, in compliance with the City of Boynton Beach Land Development Code: 1. Tree Disposition Plan, indicating existing tree locations, species, height, Diameter at Breast Height (DBH). This plan will tabulate trees to remain, to be removed, and/or to be relocated. This plan will also provide notes and details to support the trees' disposition, and in accordance with code requirements. 2. Planting plans for this package will delineate plant material, plant quantities, plant schedules, specifications and project - specific planting details for the following, as directed by the Client: • Perimeter buffers • Parking lot and vehicular use area plantings • Utility screening • Code - required calculations 3. Irrigation Plans and details for an irrigation system designed to provide 100% irrigation coverage for all landscaped areas associated with the above - mentioned task. KHA will provide the following irrigation design services: • Coordination with Client to determine preferred equipment, installation detailing, and other factors that will affect the irrigation design. • Calculation of irrigation system requirements based on water application per week and water window availability as determined by local municipality and within parameters of then - current Water Management District watering restrictions. • Irrigation mainline routing. • Coordination with civil engineer for sleeve and conduit locations. • Recommendation for irrigation controller location(s), coordinated with Client location(s). • Electrical service to the controller and pump station (if desired) by electrical engineer. Kimley -Horn and Associates, Inc. Ms. Vivian Brooks, October 25, 2012, Page 4 • Preparation of irrigation details as required including pump station (if desired) and irrigation controller. • Preparation of material legend of all components. • Preparation of head layout, schedule, notes and specifications for irrigation system. 4. KHA will provide signage design services to design a post -style sign for use as an identifying marker for the parking lot at NE 1 St and NE 1" Ave. We will provide the following design services: • Produce up to three (3) concepts for sign styles. All sign concepts will be developed as a custom post -style sign or a prefabricated concrete monument - style sign. We will present rough sketches of each, to generate input from the Client. • After one (1) round of Client comments, KHA will produce a dimensioned, scale drawing of the preferred sign design that incorporates Client input. • Construction documents for the sign will be developed to identify dimensions, materials, finishes, sign copy, and general specifications for constructing the signage. • Sign and foundation will be designed to meet 2010 Florida Building Code for High - velocity Hurricane Zones (170 MPH) 5. Client design direction will be incorporated into the submittal packages as follows: • A first submittal will be presented to the City and the Client with only the planting design, details, and specifications as well as a note on the planting plan specifying that the site will be irrigated with an automatic underground irrigation system. • A second submittal will incorporate Client and City comments into the planting design package and also include the irrigation design drawings. 100% construction drawings and specifications will be submitted to the City and Client for review and approval. C. KHA will commit to up to two (2) meetings to take place at the project site, the City of Boynton Beach CRA, or at our KHA office in Delray Beach. KHA recommends that landscape architectural coordination occur at a kick -off meeting and at one project milestone. This face -to- face coordination gives the designer an opportunity to gather the client's input in conjunction with the input of the project team's other design professionals. Coordination between project milestones or meetings may be facilitated through phone conversations and mails. D. KHA will respond to up to two (2) rounds of reasonable review comments from the City of Boynton Beach. Task 4 — Lighting and Electrical Construction Drawings KHA will hire a Subconsultant to prepare electrical and lighting plans for the proposed parking lot at NE 1" St and NE I St Ave, the sidewalk path at NE 2 St and the irrigation controller. The scope includes preparation of a site plan with pole and mounting details, photometrics, lighting vendor coordination, addressing review comments, and a maximum of one (1) site visit to review the project. The lights for the sidewalk path will be the short pedestrian type. Task 5 — Rezoning Application Assistance and Project Management C �, , and Associates, Inc. Kimley-Horn Ms. Vivian Brooks, October 25, 2012, Page 5 KHA will provide project management services relative to the rezoning application process in the City of Boynton Beach Planning and Zoning Division, which will include: • Preparation of necessary applications. • Site plan review • Narrative justification discussing the criteria for reviewing a rezoning and site plan application. • Attendance at a pre - application meeting with City of Boynton Beach review agencies (Planning and Zoning, Building, Fire, Utilities, etc) to review the project prior to submittal and flush out any early comments to expedite the formal process. • Site Plan application, including 12 submittal sets to the City, and 1 full copy to the Boynton Beach CRA. • Attendance at staff level development review meetings to discuss comments, and follow up to resolve outstanding issues. • Preparation for and attendance at one CRA public meeting, one Planning and Development Board meeting and one City Commission Public Hearing. • Preparation of final site plan sets, incorporating any comments from the public hearing process, to obtain a final stamped site plan set for use in building permit submittals. Task 6 — Additional Meetings or Exhibits KHA will attend additional meetings at the request of the Client. KHA will also prepare additional exhibits for the use agreement of the NE 2 St right -of -way or other exhibits beyond the concepts or plans described above at the request of the Client. ADDITIONAL SERVICES We will provide, as requested and authorized by the Client, additional services that require analyses beyond those described above. These additional services may include, but not be limited to: • Neighborhood /Community /Public hearing meetings • Alley abandonment processing and meetings • Environmental or traffic analysis and engineering • Structural or geotechnical engineering • Off -site roadway, utility, or engineering design • Construction Phase Services • Preparation of contractor bid packages or related services • Survey or platting services or assistance in preparation of easement documents • Sign variances or waivers • Property development regulations variances or waivers • Building permit submittal or coordination • Hardscape design for elements such as decorative pavement treatments, raised planters, site furnishings, etc. • Arboriculture services for tree assessment or valuation INFORMATION SUPPLIED BY CLIENT ■ C Kimley -Horn and Associates, Inc. Ms. Vivian Brooks, October 25, 2012, Page 6 The following information shall be provided to KHA on which it can rely to complete the scope of services: • ALTA boundary and topographic survey, including existing tree locations and sizes. • Permit, application, impact, inspection, and other such fees. • Signatures on required applications. • Property legal description and title work. • Geotechnical report. FEE AND BILLING KHA will perform all services described for the lump sum labor fee below. Task Task 1: Preparation of Concept Plans $2,400 Task 2: Preparation of Eng Plans and Agency Submittals $11,500 Task 3: Landscape Architectural Construction Drawings $10,000 Task 4: Lighting and Electrical Construction Drawings $8,000 Total Lump Sum Fees $31,900 Task 5 will be completed on an hourly basis, at our then current rates, not to exceed $2,000 without approval from the Client. Task 6 will be completed on an hourly basis, at our then current rates, not to exceed $2,000 without approval from the Client. (See attached rates in Exhibit A). Direct reimbursable expenses such as express mail, air travel, out -of -town mileage, outside printing, and other direct expenses shall be reimbursed at 1.15 times cost and the total direct expenses shall not exceed $2.000 without approval from the Client. Any /all permitting, application, impact, and similar project fees will be paid directly by the Client. Fees are payable and monthly billing based upon the percentage of services completed on lump sum elements and for the actual amount of service performed for hourly rate elements. Payment will be due within 25 days of your receipt of the invoice. KHA, in an effort to expedite invoices and reduce paper waste, offers its clients the option to receive electronic invoices. These invoices come via email in an Adobe PDF format. We can also provide a paper copy via regular mail if requested. Please select a billing method from the choices below: Please email all invoices to @ • Please email invoices to A AND provide a hard copy to the address listed above to the attention of (or provide alternative address). Please ONLY provide a hard copy invoice to the address listed above to the attention of (or provide alternative address). C Kimley -Horn � I and Associates, Inc. Ms. Vivian Brooks, October 25, 2012, Page 7 THE REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY C MI Kimley -Horn and Associates, Inc. Ms. Vivian Brooks, October 25, 2012, Page 8 CLOSURE In addition to the matters set forth herein, our Agreement shall include and be subject to, and only to, the attached Standard Provisions, which are incorporated by reference. As used in the Standard Provisions, "Consultant" shall refer to Kimley -Horn and Associates, Inc., and "Client" shall refer to Boynton Beach Community Redevelopment Agency. Our current rate schedule has also been attached. If you concur in all the foregoing and wish to direct us to proceed with the services, please have authorized persons execute both copies of this Agreement in the spaces provided below, retain one copy, and return the other to us. We will commence services only after we have received a fully- executed agreement. Fees and times stated in this Agreement are valid for sixty (60) days after the date of this letter. We appreciate this opportunity to provide these services to you. Please contact us if you have any questions. Sincerely, KIMLEY -HORN AND ASSOCIATES, INC. Marwan H. Mufleh, P.E. Jason Webber, P.E. Project Manager Project Engineer BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: (Date) (Print or Type Name) Title: (Email Address) , Witness (Print or Type Name) Official Seal: K:\ BCD_ Roadway \_Marketing\Boynton CRA\Parking Projects _Rase Contract\2012.1015.Boynton CRA - Parking Lots_Proposal- Ed2.Doc Hourly Rate Schedule Boynton Beach CRA Current Rates 8/1/2012 Support Staff 60.00 To 85.00 Technical Support 72.50 To 130.00 Senior Technical Support 115.00 To 175.00 Professional 95.00 To 180.00 Senior Professional 175.00 To 250.00 Principal 245.00 To 285.00 K: \BCD Roadway \_Marketing \Boynton CRA \Parking Projects \_Base Contract \Rate Schedule BRS89 2012 PM.xls EXECUTIVE DIRECTOR'S PROJECT STATUS REPORT Project Activities Outcomes Anticipated Completion Date October 2012 Ocean Avenue The final submissions and artist On October 17th, CRA & January 2013 Lighting Project agreements will presented to the City staff performed field CRA Board at their October 9, work to identify each of the 2012 meeting. The CRa Board branches to be utilized for approved the Artist Agreements the art hanging, measured but final execution of the distances from the ground Agreements has been as well as branch widths postponed in order to provide the for the bracket system. Board with an updated budget City & CRA staff continued verifying cost will remain within to revised costs and budgeted amount. schedule for fabrication and installation. Tentative schedule has installation of the art occuring in Dec. - Jan. with completion and ribbon cutting event for January 18th. Marina Phase 1 B -Dive The building is still occupied by CRA staff sought costs for TBD Shop Public Open Sea Mist Marina, Inc. until the the installation of several Space Project end of October 2012 when they palm trees around the complete their new operations perimeter of the building to building currently underway. provide a landscape CRA staff is preparing to install enhancement to the site. sevral decorative palms on the Installation is schedled for property to provide some the week of Nov. 12th. temporary landscape enhancements until such time as the Marina Open Space project begins. Marina Signage CRA staff has conducted several Revisions were submitted March 30, 2013 Project at BB Blvd & meetings with the design team at to the City and comments Federal Hwy Kimley Horn & Assoc. to revise were received on Oct. various aspects of the project 24th. Requried response scope in an attempt to gain cost revisions were made and savings through value re- submitted on to the City engineering methods. The On November 1st. Staff is revised design plans will be awaiting final approval required to be resubmitted for from the City. City approval. Page 1 of 6 Marina Phase 2- VHB- Miller Sellen (project design Design professionals January 2014 Harbor Master, Fuel firm) has completed 90% site continue to revise Dock & Public and petroleum design plans and construction plans. Restrooms Building continues to move forward Harbor Master building Project toward completion. Architects design documents 90% have reached the 95% design complete and moving stage and will submit for permit toward interior finishes when the site documents are selection. Site completed. Several outstanding improvement design permitting issues which involve phase also moving FED & the Army CORE are forward. Permit being resolved. CRA staff and discussions with Federal VHB continue to move the and State agencies such project forward. as Army Core of Engineers & SFWMD have been ongoiing. Design plans should be submitted to the City for permit review in mid - November 2012. Parking Lot Projects: CRA staff has held several Surveys have be ordered Sept. 2013 NE 1st Avenue & 1st meetings with engineering and the Street - Sidewalk professionals to discuss work design /engineering Connector from scope and project goals & proposal from Kimely Horn Ocean Avenue to NE objectives. & Assoc. will be presented 1st Street to the CRa Board on Nov. 13th. Development of 21 SIF 1. Four houses under Ongoing Homes at Ocean construction 2. Seven lots Breeze West transferred to Habitat with 3 being assigned to the CDC Boynton Beach Blvd. 1. Proceeding with preliminary Jan 2013 Redesign design for FDOT. Economic 1. Millicent Redway - Small Development Business Development 2. Meeting w /TRG re: Promenade 3. Iberia Bank - Small Business Workshops 4. Owen Duke - B of A site 5. Scott Conley - Software Development Group 6. Comm Fam Tour Meeting 7. Ric Newman - 500 Ocean Site 8. Canyon Group - The Promenade Page 2 of 6 Marketing and PR 1.Daily promotion of Pirate event 1. Promotion and 1. Completed 2. Projects on website, FaceBook, Twitter; marketing of Pirate event Meeting with Vivian email blasts, ran week of radio extremely successful (in and Susan Harris ads on WILD 95FM and spite of Hurricane Sandy) this week to review distributed press release 2. with over 4,000 attendees spreadsheet. 3. Completed final draft of Excel and increase in website Mail Newsletter by spreadsheet for Report Card on hits up 11 % 3. FYI November 30 4. HOB Plan 3. Finalizing draft of newsletter pending Will continue FYI newsletter (Winter issue) 4. November 4. Brand attending meetings MEETINGS- 10/8: City's Brand Promise Comm to present which are a Promise Committee, 10/15: "Like new City logo to valuable New" Consignment ribbon- Comission on Dec. 4, networking tool to cutting, 10/16: PR Gold Coast, Posted photos of new spread the CRA's 10/24: PRSA held at Palm store on FB and Twitter, message on a local Beach Post, 11/1: CVB Marine Met assignment editors for and county -wide Task Force, which included WPEC, WPTV, PB Post level. creating a presentation on PB and Palm Bch Illustrated South County marina activities mag.at PRSA Mtg (Boynton, Delray and Boca) Small Business On Oct. 9th the Board approved A total of 33 Grants Ongoing Grants an additional $125,000 in approved by the CRA funding for the programs - Total Board FY 2011 -2012 - no funding available for New FY new applications as of 2012 -2013 - $310,000 10/31/12 Redevelopment of Old Ongoing High School Boynton Beach The Farmers Market is open October... between the Ongoing Community Farmers every Saturday from 9 a.m. - 2 rain and windy conditions Market p.m. and is located on the SE of October I am amazed corner of Boynton Beach Blvd that we still have amazing and Federal Hwy. We pay for vendors that are "hangin- port-o -lets and to have the lot in "... can't wait for nicer maintained. Jul;y - We have had weather and season to hit! some problems with ants and other insects so we now have the grass in the lot sprayed every other month. Sunday in the Park The stage is set for the new This series has a very 5/5/2013 concert series... Sunday in the slow start... only 15 people Park. This event will take place came out on a great on in the park on the NE corner weather day. Our thought of E. Ocean Ave. and NE 4th was that the restaurants in street. November 4th we present the area would promote Paul Bee who has mastered 10 this event to their patrons musical instrments and plays and we don't think that is and sings a wide assortment of happening yet. music. Page 3 of 6 Haunted Pirate Fest Sets are being built, confirming AWESOME AND 10/28/2012 October 27 & 28, 2012 entertainment acts and vendors, AMAZING!!! What a great hired Mass Media for aggressive event with 75 Pirates PR campaign to generate onsite creating a totally attendance. Confirmed interactive experience for entertainment groups:Pirate Re- the 4000+ people that enactments, Street Performers, came out over the two -day Acrobats, Comedy, Children's event. This is just the type shows, Children's Treasure of Signature Event we Hunt., Jack Sparrow, Live Music, have been hoping would Sword Fights, Magic show, be our annual event. The Mermaid Tank, Whip Show, actors and vendors all Fairies, Pirate Stunt Show, commented that they have Jugglers, Pirate Bounce -n -Slide never seen a first year and a Rock Climbing Wall. event run so well and Schoolhouse Children's Museum bring out so many will sponsor a Haunted participants. Everyone is House...there will be a $5.00 fee. looking forward to next Food and drink vendors are all year October 26 & 27. set. 2013 Holiday Extravaganza • Planning is underway for this 12/1/2012 Parade - Tree Lighting exciting event. FDOT road - Concert December clousure permit is being applied 1, 2012 for. First departmental assist is scheduled for October 17. The Contours (an original Motown group) have been contracted to perform the concert... they will do their Motown Show. After a lot of back and forth Maroone Ford will again supply the cars for the parade. And a "Projection Mapping Project" is underway and will be projected on the Schoolhouse Childrens Museum after the tree lighting. Holiday Boat Parade The Delray Beach DDA is 12/7/2012 and Toys for Tots Toy working with us this year to Drive December 7, collect Toys for Tots and get 2012 prizes and sponsor Awards Luncheon. Coast Guard Permit applied for. Entry forms are coming in for the boat parade and Toys for Tots drop off boxes are being placed around town. Page 4 of 6 Budget FY 2012 -2013 Budget Amendment #1 in Funds allocated as Completed October 2012 to reflect final City follows: (1) $125,000 millage rate of 7.6. Additional additional for Economic TIF revenue realized of Development Programs $185,000 plus fund balance bring budget total to allocation of $28,840 resulting in $310,000; (2) Parking a total of $213,840. Redevelopment additional of $60,840 bringing budget total to $278,424; (3) $28,000 additional developer incentive payments bringing budget total to $517,500. Audit FY 2011 -2012 Second week of audit work Oct. Financial statement 1/1/2013 29 -Nov. 2, 2012 preparation during November 2012 Bond Refunding - Transaction closed on 10/18/12 Debt Service Payment Completed Series 2012 for refunding of Bonds Series Savings totaling 2004 and 2005A $2,622,647 over the remainer of the 14 year maturity. Net present value savings of $1,182,292 and new fixed interest rate of 2.56% Page 5 of 6 Business 1. Marketing the businesses and 1. Created Economic Development economic development Development brochure programs 2. Update and distributed to local Commercial database 3. realtors and at events. Increase social media presence Working on Issue 2 of the in conjuntion with downtown Business Newsletter to go businesses. 4. Updating the out in Utility bills. 2. Businesses page of the CRA Researched software to website manage database including grants; hope to have it installed by the end of the month. 3. Working on facebook ads to include businesses and events; increased facebook posts, sharing posts from other pages and developing conversation /interest. 4. Creating list of businesses by category to add to the website; will also include economic development data. 5. Dive Fest Meeting with Dive Operators Paae 6 of 6 Heart of Boynton Redevelopment Strategies 2001 - 2012 City and CRA Funds Spent and/or Approved Activity to Date Status Purchase of Boynton Purchased land. 32 S/F Homes planned for West 1 Terrace $ 7,500,000 Side NE 4th/5th Avenue 2 Assemblage $ 2,482,604 Closed on a total of 2.69 acres Down Payment 3 Assistance (CRA) $ 431,000 Assisted 10 families since 2006 Down Payment 4 Assistance (City) $ 1,345,777 Assisted 36 families since 2001 Residential Improvement 5 Program (RIP) $ 324,252 21 Rehabs completed Cherry Hill 6 Redevelopment $ 170,000 Closed on 402 NW 12th Avenue and demolished Partnered with non - profits to conduct numerous Community Improvement trash pick -ups, purchase of trash cans and 7 Grant $ 25,000 support of neighborhood clean -up efforts Total of 14 lots developed into affordable single - 8 Housing Infll $ 976,310 family homes MLK Corridor Property 9 Assemblage $ 4,033,116 assembled 3.8 acres Galaxy Elementary 10 Painting $ 92,000 completed 11 CRA Policing $ 458,100 HOB is 29% of CRA. Total spent = $1,579,531 12 Trolley $ 141,667 12% of ridership originates in HOB Carolyn Sims Park 13 Community Center $ 8,840,000 Completed 2/08 Seacrest/MLK 14 Streetscape Plans $ 187,215 Completed Seacrest/MLK 15 Streetscape 9 1,300,000 Completed 6/2011 Ocean Breeze West Site 16 Development 533,000 Site work for 21 home subdivision 17 Small Business Classes $ 59,000 Completed 5 Sessions 18 St. Johns Family Picnic $ 8,000 Community Project 19 Heritage Festival $ 105,378 4 Events 20 _Community Projects $ 27,648 Public Art & Youth Programs TOTAL $ 29,040,067 C:IDocuments and Settingslutterbackt\L.ocal Settings\Temporary Internet FilesIOLKD1IHOB investment 2001 - YTD Boynton Beach Presents 1111 e l li XTI9FIVAGANZ I n a l s , SATURDAY DECEMBER 1 { ".:} 5:00 p.m. 42nd Annual Holiday Parade North on Federal Hwy. from SE 12th to Ocean Ave. V .- P l b 6:30 p.m. Lighting Ceremony Ocean Ave. between Seacrest Blvd and SE 1st St. 7:00 p.m. FREE Concert Ocean Ave. between Seacrest Blvd O!I1 Alosted and SE 1st St. i flia J as 1� �e Cciiitcuirs go I WU luierfunrniug, Mcttcwin Show yr N Food & beverages available. No pets. Ride the FREE shuttle - park at NE corner of E Ocean Ave and Federal Hwy, 6:30 - 10:30 p.m. Information Line: 561- 742 -6246 Website: www.boyntonbeachcra.com Boynton & Delray Beach's Annual Boat Parade Friday, December 7, 6:30 p.m. TOYS! For TOTS Viewing area at Boynton Harbor Marina • • s - • MAKE SURE TO BRING NEW, UNWRAPPED TOYS p ,, BO B ET AC H lc-RA N Boynton Beach & Delray Beach Present • •YNTON B BEACH CRA A Ho/ tpatk Friday, December 7 i 6:30 p.m. k ,� I it Parade begins at the Boynton Beach Inlet --.;;; `; and proceeds south to the C-15 canal ° - --- _----- - --_ .:�:, ,...�.: -� - i n Delray Beach. Pre-Party starts at 5:30 p.m. Live music, pictures with Santa and more! Boynton Harbor Marina by Two Georges Waterfront Grille oz. i s Additional parkin available at the NE corner of Ocean Ave. and Federal H • a Hwy. e In e Food & Drink Vendors available. No Pets Please! To enter your boat, call 737 -3256 x 212 EVERY CHILD DESERVES A TOY FOR THE HOLIDAYS! loYS 1 Foti l 10Ts Make sure to bring new, unwrapped toys to the `l -- OFFICIAL TOYS -FOR -TOTS DONATION SITE Viewing area at Boynton Harbor Marina rot r , 1 I) I 1 13 ! 4 _ ECNB AUTHOR! Event Information: 742 -6246 or visit www.boyntonbeachcra.com N r 0 0(0(0 OZ o Z G) . cn (`1 N N N W W N r.22 N N N N V A 7 N W r N .� W n u N (O CO N O p A CO N N N A A W 0 ) — N N N N N N N N N 0 N m 0 0 0 0 0 0 O O O 0 0 0 0 0 0 0 0 Q CD 3 p p p CD 0 CO CO CO C O O O O O O O V V H m o v (° a M CD = r D m _ �o * 00 c ( = N N 7 co 7 E. C D N O ` n W N n A = c (v a o = v c O o m G7 D O � O v (_ o n m m o H 13 m o m v O n o CO C W m ( z D CD n (u n) C.1) 3 0 m m _ 31] C m v 7 CD m m 5' m 'r p , , < c m - 3 - O a ti x- '< Cn O CD —I _ 3. 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