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Res 29-11[ITY OF DELR114 BEII[H DELRAY BEACH All-America City I dt~ 1993 ,,,,,, CITY CLERK CERTIFICATION I, CHEVELLE D. NUBIN, CMC, City Clerk of the City of Delray Beach, do hereby certify that the attached document is a true and correct copy of Resolution No. 29-11, as the same was passed and adopted by the Delray Beach City Commission in regular session on the 2nd day of August 2011. IN WITNESS WHEREOF, I have hereunto set my hand and the official seal of the City of Delray Beach, Florida, on this the 3rd day of August 2011. ~~~ ~~„~, Chevelle D. Nubin, CMC City Clerk City of Delray Beach, Florida (SEAL) SERVICE PERFORMANCI RESOLUTION N0.29-11 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO EXCHANGE CERTAIN REAL PROPERTY IN PALM BEACH COUNTY, FLORIDA, DESCRIBED BELOW WITH DEPOT INDUSTRIAL CENTER, LLC.; HEREBY INCORPORATING AND ACCEPTING THE AGREEMENT TO EXCHANGE REAL PROPERTY STATING THE TERMS AND CONDITIONS FOR THE EXCHANGE. WHEREAS, the City wishes to exchange the property described below, for a public purpose, with Depot Industrial Center, LLC; and WHEREAS, Depot Industrial Center, LLC wishes to exchange the property described below in order to facilitate its development project. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Commission of the City of Delray Beach, Florida, hereby agrees to exchange property with Depot Industrial Center, LLC for a public purpose, said parcels being more particularly described as follows: See Exhibit "A", attached hereto. Section 2. That the terms and conditions contained in the Agreement to Exchange Real Property between the City of Delray Beach and Depot Industrial Center, LLC are incorporated herein. PASSED AND ADOPTED in regular session on the ~~ day of , 2011. ATTEST: MAYO R City Clerk EXHIBIT "A" City shall transfer to Depot Industrial Center, LLC property described as: Parcel 1 Legal description: Tract A-3 A portion of land lying in Section 18, Township 46 South, Range 43 East, City of Delray Beach, Palm Beach County, Florida, being more particularly described as follows: Commence at the SW corner Mack Industries Delray-Plat as recorded in Plat Book 43, Page 138 of the Public Records of Palm Beach County Florida; said corner being on a curve concave westerly having a radius of 541.40' and a delta angle of 22°30'03"; radial bearing through said corner bears S81 °25'47"E; thence Northwesterly along said curve an arc length of 212.62 feet to a point of tangency; thence N13°55'52"W a distance of 79.15 feet to the point of beginning; thence N89°39'19"W a distance of 22.90 feet; thence N00°48'37"W a distance of 100.63 feet; to a point on a curve concave easterly having a radius of 25.00 feet and a delta angle of 13°06'33"; radial bearing through said point bears S89°11 '23"W; thence Southeasterly along said curve an arc distance of 5.72 feet to a point of tangency; thence S13°55'52"E a distance of 97.97 feet to the point of beginning; containing 1,119 square feet more or less Parcel 2 A parcel of land lying in Section 18, Township 46 South, Range 43 East, City of Delray Beach, Palm Beach County, Florida, said parcel being more particularly described as follows: Commence at the NE corner of said Section 18; thence N 89°09'21" W, along the North line of said Section 18, a distance of 251.13 feet; thence S 14°28'43" W, along the East right of way line of the CSX Railroad, a distance of 143.88 feet to a point on a curve concave Northerly having a radius of 600.00 feet and a delta angle of 11 °49'20"; radial bearing through said point bears N 00°33'26" W; thence Easterly, an arc distance of 123.80 feet to a point on a curve concave easterly having a radius of 215.00 feet and a delta angle of 27°38'45":, radial bearing through said point bears S 65°39'04" E; thence Southerly along said curve an arc length of 103.74 feet to the point of beginning, said point having a radial bearing of N 86°42'29" E and being a point of compound curvature, having a radius of 215.00 feet; thence Southerly along said curve, concave Easterly and having a delta angle of 01°11'48", an arc Distance of 4.49 feet to a point of tangency; thence S 04°29'19" E, a distance of 982.51 feet, thence S 31°05'49" W a distance of 160.88 feet to a point on the North right of way line of N.W. 2nd Street; thence S 89°56'26" E a distance of 204.24 feet to a point on the West right of way line of Interstate I-95 as recorded in Official Records 2187, Page 1256; said point begin on a curve concave Westerly, having a radius RES. NO.29-11 of 1063.92 feet, whose radius bears N 85°23'36" W; thence Northerly along said curve having a delta angel of 8°39'43" an arc length of 160.85 feet; to a point of tangency; thence N 04°03'20" W along said West right of way line of I-95, a distance of 506.19 feet; thence N 08°04'42" W along said West right of way line of I-95 a distance of 94.11 feet to a point on a curve; said curve concave Easterly having a radius of 3969.72 feet; thence Northerly along said curve (being on the West right of way line of I-95) having a delta angle of 5°31'47" an arc distance of 383.13 feet to a point on a curve concave Northerly having a radius of 73.00 feet whose radius bears N 61°39'17" W, thence Westerly along said curve, having a delta angle of 105°17'12", an arc distance of 134.14 feet to the point of beginning. Parcel 3 A portion of Mack Industries-Delray, as recorded in Plat Book 43 Page 138 of the Public Records of Palm Beach County, Florida, being more particularly described as follows: Beginning at the NE corner of said Mack Industries-Delray plat (P.O.B.), thence N 89°56'26" W, a distance of 149.78 feet to a point of curvature; said curve concave Southeasterly, having a radius of 25.00 feet and a delta angle of 90°52'11", thence Southwesterly along said curve, an arc distance of 39.65 feet; thence N 00'°48'37"W a distance of 10.00 feet; to a point of curvature concave Southeasterly, having a radius of 25 feet and a Delta angle of 90°52'11 "; thence Northeasterly along said curve for an arc distance of 39.65 feet to a point of tangency; thence S89°56'26" E, a distance of 149.78 feet; thence S00°48'37" E, a distance of 10.00 feet to the point of beginning; Containing 1,752 square feet, more Depot Industrial Center, LLC shall transfer to the City property described as: A portion of Mack Industries-Delray as recorded in Plat Book 43, Page 138 of the Public Records of Palm Beach County, Florida being more particularly described as follows: Commence at the SW corner Mack Industries Delray-Plat; said corner being on a curve concave Westerly having a radius of 541.40' and a delta angle of 22°30'03"; radial bearing through said corner bears S81 °25'47"E; thence Northwesterly along said curve an arc length of 212.62 feet to a point of tangency; thence N13°55'52"W a distance of 79.15 feet; thence S89 °39'19"E a distance of 187.16 feet; thence S32°35'19"W a distance of 66.30 feet; thence S32°35'19"W a distance of 43.58 feet; to a point on a curve concave Southeasterly having a radius of 632.00 feet and a delta angle of 19°29'29"; thence Southwesterly along said curve an arc distance of 215.00 feet; thence N79°12'27"W a distance of 16.25 feet to the point of beginning; Containing 23,055 square feet more or less. RES. NO. 29-1 1 Coversheet MEMORANDUM TO: Mayor and City Commissioners FROM: R. Brian Shutt, City Attorney DATE: July 26, 2011 Page 1 of 1 SUBJECT: AGENDA ITEM 10.D. -REGULAR COMMISSION MEETING OF AUGUST 2, 2011 RESOLUTION NO. 29-11/AGREEMENT TO EXCHANGE OF REAL PROPERTY: DEPOT INDUSTRIAL CENTER, LLC ITEM BEFORE COMMISSION Approval of Resolution 29-11 and the Agreement to Exchange Real Property between the City and Depot Industrial Center, LLC. BACKGROUND Depot Industrial Center ("Depot") owns property adjacent to the right-of--way of the current Depot Road and next to the City's historic train depot that is adjacent to the I-95 right-of--way. The City owns the strip of property that encompasses the current Depot Road as a result of the property being deeded to the City by FDOT in 2008. Depot is planning to develop this area and has proposed to exchange certain properties with the City. See Attachment "1 ". Once the resolution and agreement have been approved the parties shall have 120 days to close the transaction. Once the closing has occurred, Depot will issue a temporary easement to the City allowing the public to continue to use Depot Road until relocated Depot Road (adjacent to the CSX railroad tracks) is constructed by Depot. Depot shall have 48 months in order to complete the construction of the relocated Depot Road. If Depot fails to complete the construction within the required time frame the City may use the bond to complete the road or exercise its reconveyance rights as it pertains to existing Depot Road. RECOMMENDATION Approve Resolution 29-11 and the Agreement to Exchange Real Property. http://itwebapp/AgendaIntranet/Bluesheet.aspx?ItemID=4696&MeetinglD=325 8/3/2011 RESOLUTION NO. 29-11 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO EXCHANGE CERTAIN REAL PROPERTY IN PALM BEACH COUNTY, FLORIDA, DESCRIBED BELOW WITH DEPOT INDUSTRIAL CENTER, LLC.; HEREBY INCORPORATING AND ACCEPTING THE AGREEMENT TO EXCHANGE REAL PROPERTY STATING THE TERMS AND CONDITIONS FOR THE EXCHANGE. WHEREAS, the City wishes to exchange the property described below, for a public purpose, with Depot Industrial Center, LLC; and WHEREAS, Depot Industrial Center, LLC wishes to exchange the property described below in order to facilitate its development project. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Commission of the City of Delray Beach, Florida, hereby agrees to exchange property with Depot Industrial Center, LLC for a public purpose, said parcels being more particularly described as follows: See Exhibit "A", attached hereto. Section 2. That the terms and conditions contained in the Agreement to Exchange Real Property between the City of Delray Beach and Depot Industrial Center, LLC are incorporated herein. PASSED AND ADOPTED in regular session on the day of , 2011. ATTEST: MAYOR City Clerk EXHIBIT "A" City shall transfer to Depot Industrial Center, LLC property described as: Parcel 1 Legal description: Tract A-3 A portion of land lying in Section 18, Township 46 South, Range 43 East, City of Delray Beach, Palm Beach County, Florida, being more particularly described as follows: Commence at the SW corner Mack Industries Delray-Plat as recorded in Plat Book 43, Page 138 of the Public Records of Palm Beach County Florida; said corner being on a curve concave westerly having a radius of 541.40' and a delta angle of 22°30'03"; radial bearing through said corner bears S81 °25'47"E; thence Northwesterly along said curve an arc length of 212.62 feet to a point of tangency; thence N13°55'52"W 'a distance of 79.15 feet to the point of beginning; thence N89°39'19"W a distance of 22.90 feet; thence N00°48'37"W a distance of 100.63 feet; to a point on a curve concave easterly having a radius of 25.00 feet and a delta angle of 13°06'33"; radial bearing through said point bears S89°11 '23"W; thence Southeasterly along said curve an arc distance of 5.72 feet to a point of tangency; thence S13°55'52"E a distance of 97.97 feet to the point of beginning; containing 1,119 square feet more or less Parcel 2 A parcel of land lying in Section 18, Township 46 South, Range 43 East, City of Delray Beach, Palm Beach County, Florida, said parcel being more particularly described as follows: Commence at the NE corner of said Section 18; thence N 89°09'21" W, along the North line of said Section 18, a distance of 251.13 feet; thence S 14°28'43" W, along the East right of way line of the CSX Railroad, a distance of 143.88 feet to a point on a curve concave Northerly having a radius of 600.00 feet and a delta angle of 11°49'20'; radial bearing through said point bears N 00°33'26" W; thence Easterly, an arc distance of 123.80 feet to a point on a curve concave easterly having a radius of 215.00 feet and a delta angle of 27°38'45":, radial bearing through said point bears S 65°39'04" E; thence Southerly along said curve an arc length of 103.74 feet to the point of beginning, said point having a radial bearing of N 86°42'29" E and being a point of compound curvature, having a radius of 215.00 feet; thence Southerly along said curve, concave Easterly and having a delta angle of 01 °11'48", an arc Distance of 4.49 feet to a point of tangency; thence S 04°29'19" E, a distance of 982.51 feet, thence S 31°05'49" W a distance of 160.88 feet to a point on the North right of way line of N.W. 2nd Street; thence S 89°56'26" E a distance of 204.24 feet to a point on the West right of way line of Interstate I-95 as recorded in Official Records 2187, Page 1256; said point begin on a curve concave Westerly, having a radius of 1063.92 feet, whose radius bears N 85°23'36" W; thence Northerly along said curve having a delta angel of 8°39'43" an arc length of 160.85 feet; to a point of tangency; thence N 04°03'20" W along said West right of way line of I-95, a distance of 506.19 feet; thence N 08°04'42" W along said West right of way line of I-95 a distance of 94.11 feet to a point on a curve; said curve concave Easterly having a radius of 3969.72 feet; thence Northerly along said curve (being on the West right of way line of I-95) having a delta angle of 5°31'47" an arc distance of 383.13 feet to a point on a curve concave Northerly having a radius of 73.00 feet whose radius bears N 61°39'17" W, thence Westerly along said curve, having a delta angle of 105°17'12", an arc distance of 134.14 feet to the point of beginning. Parcel 3 A portion of Mack Industries-Delray, as recorded in Plat Book 43 Page 138 of the Public Records of Palm Beach County, Florida, being more particularly described as follows: Beginning at the NE corner of said Mack Industries-Delray plat (P.O.B.), thence N 89°56'26" W, a distance of 149.78 feet to a point of curvature; said curve concave Southeasterly, having a radius of 25.00 feet and a delta angle of 90°52'11", thence Southwesterly along said curve, an arc distance of 39.65 feet; thence N 00'°48'37"W a distance of 10.00 feet; to a point of curvature concave Southeasterly, having a radius of 25 feet and a Delta angle of 90°52'11"; thence Northeasterly along said curve for an arc distance of 39.65 feet to a point of tangency; thence S89°56'26" E, a distance of 149.78 feet; thence S00°48'37" E, a distance of 10.00 feet to the point of beginning; Containing 1,752 square feet, more Depot Industrial Center, LLC shall transfer to the City property described as: A portion of Mack Industries-Delray as recorded in Plat Book 43, Page 138 of the Public Records of Palm Beach County, Florida being more particularly described as follows: Commence at the SW corner Mack Industries Delray-Plat; said corner being on a curve concave Westerly having a radius of 541.40' and a delta angle of 22°30'03"; radial bearing through said corner bears S81 °25'47"E; thence Northwesterly along said curve an arc length of 212.62 feet to a point of tangency; thence N13°55'52"W a distance of 79.15 feet; thence S89 °39'19"E a distance of 187.16 feet; thence S32°35'19"W a distance of 66.30 feet; thence S32°35'19"W a distance of 43.58 feet; to a point on a curve concave Southeasterly having a radius of 632.00 feet and a delta angle of 19°29'29"; thence Southwesterly along said curve an arc distance of 215.00 feet; thence N79°12'27"W a distance of 16.25 feet to the point of beginning; Containing 23,055 square feet more or less. RESOLUTION NO. 29-11 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE CITY TO EXCHANGE CERTAIN REAL PROPERTY IN PALM BEACH COUNTY, FLORIDA, DESCRIBED BELOW WITH DEPOT INDUSTRIAL CENTER, LLC.; HEREBY INCORPORATING AND ACCEPTING THE AGREEMENT TO EXCHANGE REAL PROPERTY STATING THE TERMS AND CONDITIONS FOR THE EXCHANGE. WHEREAS, the City wishes to exchange the property described below, for a public purpose, with Depot Industrial Center, LLC; and WHEREAS, Depot Industrial Center, LLC wishes to exchange the property described below in order to facilitate its development project. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. That the City Commission of the City of Delray Beach, Florida, hereby agrees to exchange property with Depot Industrial Center, LLC for a public purpose, said parcels being more particularly described as follows: See Exhibit "A", attached hereto. Section 2. That the terms and conditions contained in the Agreement to Exchange Real Property between the City of Delray Beach and Depot Industrial Center, LLC are incorporated herein. PASSED AND ADOPTED in regular session on the day of , 2011. ATTEST: MAYOR City Clerk EXH161T "A" City shall transfer to Depot Industrial Center, LLC property described as: Parcel 1 Legal description: Tract A-3 A portion of land lying in Section 18, Township 46 South, Range 43 East, City of Delray Beach, Palm Beach County, Florida, being more particularly described as follows: Commence at the SW corner Mack Industries Delray-Plat as recorded in Plat Book 43, Page 138 of the Public Records of Palm Beach County Florida; said corner being on a curve concave westerly having a radius of 541.40' and a delta angle of 22°30'03"; radial bearing through said corner bears S81 °25'47"E; thence Northwesterly along said curve an arc length of 212.62 feet to a point of to"ngency; thence N13°55'52"W 'a distance of 79.15 feet to the point of beginning; thence N89°39'19"W a distance of 22.90 feet; thence N00°48'37"W a distance of 100.63 feet; to a point on a curve concave easterly having a radius of 25.00 feet and a delta angle of 13°06'33"; radial bearing through said point bears S89°11 '23"W; thence Southeasterly along said curve an arc distance of 5.72 feet to a point of tangency; thence S13°55'52"E a distance of 97.97 feet to the point of beginning; containing 1,119 square feet more or less Parcel 2 A parcel of land lying in Section 18, Township 46 South, Range 43 East, City of Delray Beach, Palm Beach County, Florida, said parcel being more particularly described as follows: Commence at the NE corner of said Section 18; thence N 89°09'21" W, along the North line of said Section 18, a distance of 251.13 feet; thence S 14°28'43" W, along the East right of way line of the CSX Railroad, a distance of 143.88 feet to a point on a curve concave Northerly having a radius of 600.00 feet and a delta angle of 11 °49'20"; radial bearing through said point bears N 00°33'26" W; thence Easterly, an arc distance of 123.80 feet to a point on a curve concave easterly having a radius of 215.00 feet and a delta angle of 27°38'45":, radial bearing through said point bears S 65°39'04" E; thence Southerly along said curve an arc length of 103.74 feet to the point of beginning, said point having a radial bearing of N 86°42'29" E and being a point of compound curvature, having a radius of 215.00 feet; thence Southerly along said curve, concave Easterly and having a delta angle of 01 °11'48", an arc Distance of 4.49 feet to a point of tangency; thence S 04°29'19" E, a distance of 982.51 feet, thence S 31°05'49" W a distance of 160.88 feet to a point on the North right of way line of N.W. 2nd Street; thence S 89°56'26" E a distance of 204.24 feet to a point on the West right of way line of Interstate I-95 as recorded in Official Records 2187, Page 1256; said point begin on a curve concave Westerly, having a radius of 1063.92 feet, whose radius bears N 85°23'36" W; thence Northerly along said curve having a delta angel of 8°39'43" an arc length of 160.85 feet; to a point of tangency; thence N 04°03'20" W along said West right of way line of I-95, a distance of 506.19 feet; thence N 08°04'42" W along said West right of way line of I-95 a distance of 94.11 feet to a point on a curve; said curve concave Easterly having a radius of 3969.72 feet; thence Northerly along said curve (being on the West right of way line of I-95) having a delta angle of 5°31'47" an arc distance of 383.13 feet to a point on a curve concave Northerly having a radius of 73.00 feet whose radius bears N 61°39'17" W, thence Westerly along said curve, having a delta angle of 105°17'12", an arc distance of 134.14 feet to the point of beginning. Parcel 3 A portion of Mack Industries-Delray, as recorded in Plat Book 43 Page 138 of the Public Records of Palm Beach County, Florida, being more particularly described as follows: Beginning at the NE corner of said Mack Industries-Delray plat (P.O.B.), thence N 89°56'26" W, a distance of 149.78 feet to a point of curvature; said curve concave Southeasterly, having a radius of 25.00 feet and a delta angle of 90°52'11", thence Southwesterly along said curve, an arc distance of 39.65 feet; thence N 00'°48'37"VII a distance of 10.00 feet; to a point of curvature concave Southeasterly, having a radius of 25 feet and a Delta angle of 90°52'11"; thence Northeasterly along said curve for an arc distance of 39.65 feet to a point of tangency; thence S89°56'26" E, a distance of 149.78 feet; thence S00°48'37" E, a distance of 10.00 feet to the point of beginning; Containing 1,752 square feet, more Depot Industrial Center, LLC shall transfer to the City property described as: A portion of Mack Industries-Delray as recorded in Plat Book 43, Page 138 of the Public Records of Palm Beach County, Florida being more particularly described as follows: Commence at the SW corner Mack Industries Delray-Plat; said corner being on a curve concave Westerly having a radius of 541.40' and a delta angle of 22°30'03"; radial bearing through said corner bears S81 °25'47"E; thence Northwesterly along said curve an arc length of 212.62 feet to a point of tangency; thence N13°55'52"W a distance of 79.15 feet; thence S89 °39'19"E a distance of 187.16 feet; thence S32°35'19"W a distance of 66.30 feet; thence S32°35'19"W a distance of 43.58 feet; to a point on a curve concave Southeasterly having a radius of 632.00 feet and a delta angle of 19°29'29"; thence Southwesterly along said curve an arc distance of 215.00 feet; thence N79°12'27"W a distance of 16.25 feet to the point of beginning; Containing 23,055 square feet more or less. c a~ r U a } W m --~ ~, /1 m ~ O `~,~ ~ ~ U ~ ~ w r ~ Q ~~Up r~ O ? zw Wm ~ r °~~wo i , ' wOw ~- o~Q ~ ~~~~ , . z cn a~~ VO ` w z ~ ~~ O ` U , ~w ~°gw ~~ ~ ~~~w f-~a~ ~/ ~ wwOa ~ ~ ~ ' ~} ~ , ~ ' i z 00 w w ~ ~ ~ ? ~ ', ~~ ~ ~~ m Zaps I pQ ~ oww0 W ~ ~ w W L 0 U m .. Z s k ~ O o wz ~ ow , ~~ a~ W J ~ Q -- -'~ ~ - - ~ W ~ ~___ 38 W ~ / 7~iN I3 PuZ O~ m O M 0 Q Z ~. ~ ~ UO ~ ~~ ? ~ J H D > ZQ > Q ~ Q U O Q m ~ ~ OU ~O ~ ~ ~ N ~ Q ~ ~ W ~ U p ~ Q W w z U ~ ~ AGREEiYIENT TO EXCHANGE RF;AL PROPERTY This Agreement to Exchange Real Property (hereinafter referred to as "Agreement"} is made this day of , 2011 between the City of Delray Beach, a Florida Municipal Corporation (hereinafter referred to as "City"), and Depot Industrial Center, LLC, a Florida Limited Liability Company {hereinafter referred to as "Depot"). RECITALS A. The City is the owner of the real property described as follows: 1. The real property described in Exhibit "I" which is attached hereto and made a part hereof and is incorporated by reference herein, which land. is presently vested in the name of the City hereinafter referred to as "City Parcel 1 ", a/k/a "Tract A-3" as shown on the proposed Plat of Historic Depot Square. 2. The real property described in Exhibit " 2" which is attached hereto and made a part hereof, and is incorporated by reference herein, which land has been transferred to the City by the Florida Department of Transportation, hereinafter referred to as "City Parcel 2", and is shoum as a portion of Tract B-1 and Tract B-2 of the proposed Plat of Historic Depot Square. 3. The real property described in Exhibit "3" which is attached hereto and incorporated by reference herein, which land constitutes a ten (10') foot strip of land, south of the right-of--way of N. W. 2'~ Street Delray Beach, Florida (a/k/a a portion of Depot Road), hereinafter referred to as "City Parcel ~". City Parcel 1, City Parcel 2, and City Parcel 3 are sometimes collectively referred to as the "City Parcels." B. Depot is the owner of the real property described as follows: 1. All of the real property described in Exhibit "4" which is attached hereto and incorporated by reference herein, hereinafter referred to as the "Depot Parcel" and is also known as "Tract A-2" as shown on the proposed Plat of Historic Depot Square. C. The City has agreed to convey City Parcel 1, City Parcel 2, and City Parce! 3 to Depot, and Depot has agreed to convey Depot Parcel to the City in accordance with the terms, conditions, and covenants contained in this Agreement. D. Depot needs City to convey City Parcel I, City Parcel 2, and City Parcel 3 to Depot to allow Depot to establish the proposed Flat of Historic Depot Square, and in Page 1 of 11 consideration of the conveyance of the City Parcels to Depot, Depot has agreed to convey the Depot Parcel to the City. E. City and Depot have agreed upon the closing procedure as set forth in the escrow agreement for recording documents ("Closing Escrow Agreement"). NOW, THEREFORE, in consideration of the mutual promises and the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt of which is hereby acknowledged by the respective parties, City and Depot hereby covenant and agree as follows: 1. For the consideration and subject to the terms, provisions, and conditions hereinafter set forth, City agrees to convey to Depot, City Parcel 1, City Parcel 2, and City Parcel 3. Notwithstanding anything to the contrary in the foregoing, with respect to City Parcel 2, City shall, subject to its governmental functions, abandon City Parcel 2 and City Parcel 3 and thereafter quit-claim its interest in City Parcel 2 and City Parcel 3 to Depot, on the conditions that Depot complies wish all of its obligations under this Agreement and the Closing Escrow Agreement. 2. For the consideration and subject to the terms, provisions, and conditions hereinafter set forth, Depot agrees to convey Depot Parcel to City. 3. For purposes of this Agreement, the fair market value of Depot Parcel is Ninety- Seven Thousand Two Hundred Ninety-Two and nor'100ths ($97,292.00). The amount of the owners' marketability title insurance policy for the Depot Parcel shall be based upon its agreed upon fair market value. 4. Conditions to conveyance of City Parcels to Depot: A. The obligation of City to convey the City Parcels to Depot are subject to the satisfaction of each of the following conditions and further subject to the Closing Escrow Agreement, (any of which may be waived in whole or in part by City at or prior to closing): 1. City's abandonment of City Parcel 2 and City Parcel 3, on the condition that the abandonment shall not be effective until it is recorded in the Public Records of Palm Beach County, Florida ("Public Records"). 2. City's survey, provided to City at or prior to closing by Depot at Depot's expense, showing that there are no encroachments, boundary line disputes, violations, excroachments, or any other matter which prevents the title insurer from deleting the standard survey exception in the title insurance commitment and owners' marketability title insurance policy for the Depot Parcel and the Easement described in paragraph 4.(A)(7) of this Agreement. Page 2 of 1 l 3. City's receipt of a title insurance commitment issued by a Florida title insurance underwriter agreeing to insure marketable title of the Depot Parcel and Temporary Easement described in paragraph 4.(A){7) of this Agreement in the City in the amount of the agreed upon value stated in this Agreement, subject only to taxes for the year 2011, the proposed Plat of Historic Depot Square, and the matters set forth in Exhibit "~" which is attached hereto and made a part hereof. The Depot Parcel shall not be encumbered by the Roadway Improvement Agreement (as defined below) the Declaration (as defined below) or the Work Force Housing Covenant (as defined below), and the same shall be subordinate to the Temporary Easement. 4. Execution and delivery to the City of that certain Roadway Improvement Agreement a copy of which is attached hereto as Exhibit "6". It is understood that issuance of the actual letter of credit or bond will be in accordance with City's requirements pursuant to the issuance of subdivision improvement permits. The letter of credit and surety bond are sometimes collectively referred to as the "Bond". 5. Execution and delivery by Depot of the recordable Workforce Housing Covenant ("Workforce Housing Covenant" or "WF Covenant") which shall encumber the proposed Plat known as Historic Depot Square. The WF Covenant shall not be subject to any superior mortgage, lien or other encumbrance and shall be recorded promptly after the recording of the Plat of Historic Depot Square as described in the Closing Escrow Agreement. The Workforce Housing Covenant shall be sufficient in form and content to the City's counsel and shall otherwise conform to the City's Code of Ordinances. 6. Approval of the proposed Plat of Historic Depot Square ("Plat") by the City in accordance with all applicable City Codes and Ordinances, the recording of which shall be subject to Depot's compliance with the Closing Escrow Agreement and its obligation under this Agreement. The Plat shall contain all of the transfer and drainage requirements set forth in the FDOT/City of Delray Beach Roadway Transfer Agreement (Depot Road from N. W. 2"d Avenue to Lake Ida Road (0.461 miles}}, dated February 22, 200$ ("FDOT Agreement") so that the FDOT retained drainage rights in paragraphs 1(a) and 1(b) therein are terminated and the obligation to maintain the land described in the FDOT Agreement is imposed upon Depot or its successors and assigns, without recourse to City. 7. Delivery by Depot to the City of a temporary ingress/egress/access easement ("Temporary Easement") in form and content reasonably satisfactory to the City's counsel, to allow City and the public vehicular and pedestrian access, over, below, upon, and across Depot Road as it is Page 3 of 11 now laid out, and for existing utilities, so that the City has legal access from Depot Road, and lighting along Depot Road, and existing utility services to its Historic Train Depot located at 1525 West Atlantic Avenue, Delray Beach, Florida, pending completion of the right of way improvements shown on the Plat of Historic Depot Square. The Temporary Easement shall terminate only upon completion of the rights-of--way as shown on the proposed Plat of Historic Depot Square and Depot's full performance of the Roadway Improvement Agreement. "I'he form of the Temporary Easement is attached hereto as Exhibit "7". 8. City's inspection of the Depot Parcel, including without limitation, an environmental audit, to determine that there are no violations of any applicable governmental laws, rules, statutes, or ordinances related to the Depot Parcel. 9. Execution and delivery by Depot of the Declaration of Covenants and Restrictions for Historic Depot Square ("HOA Declaration") which contains the perpetual obligation of Depot or the homeov~~ers' association named therein to maintain the drainage areas identified in the FDOT Agreement, and is otherwise in form and content reasonably satisfactory to City's counsel. The Declaration shall not be subject to amendment without the City's prior written consent with respect to the perpetual obligation to maintain the FDOT drainage areas. 10. Execution and Delivery by Depot of the Declaration of Reserved Rights ("Reserved Rights Declaration"), the form of which is attached hereto as Exhibit "8". 11. Execution and delivery by Depot and City of the Closing Escrow Agreement, the form of which is attached hereto as Exhibit "9". 12. Execution and delivery by Depot and City of the escrow agreement for the right of way deed ("ROW Escrow Agreement"), the form of which is attached to the Reserved Rights Declaration as Exhibit "F". 13. Depot shall have performed, observed, and complied with all of the covenants, agreements and conditions required by this Agreement to be performed, observed and complied with by it prior to or as of the closing. 14. 3oinder and consent from any mortgagee whose mortgage encumbers the Plat of Historic Depot Square to the terms and covenants contained in the HOA Declaration, Temporary Easement, the Roadway Improvement Agreement, Work Force Housing Covenant, Reserved Rights Declaration, the ROW Escrow Agreement, the Closing Escrow Agreement, and the Bond. Page 4 of 11 In the event any one of the conditions precedent to closing described in paragraph 4(A) above has not been satisfied within one hundred twenty (120) days after the F,ffective Date, City, at City's option, may elect tv cancel this Agreement whereupon each party shall be relieved from its obligations hereunder. City may exercise its option by delivering written notice of cancellation to Depot within one hundred thirty-five (135) days after the Effective Date of this Agreement. Conditions to conveyance of Depot Parcel to City: A. The obligation of Depot hereunder to convey Depot Parcel to City is subject to the satisfaction of each of the following conditions and further subject to the terms of the Closing Escrow Agreement (any of which may be waived in whole or in part by the Depot at or prior to closing): 1. Conveyance and abandonment, as applicable, of City Parcel 1, City Parcel 2, and City Parcel 3 to Depot accompanied by the conveyance by Depot to Ciry of Depot Parcel as set forth in the Closing Escrow Agreement. 2. Approval of the proposed Plat of Historic Depot Square by the City in accordance with all applicable City Codes and Ordinances. 3. City shall have performed, observed, and complied with all of the covenants, agreements and conditions required by this Agreement to be performed, observed and complied v~~ith by it prior to or as of the closing. (n the event any one of the conditions precedent to closing described in paragraph S (A) above has not been satisfied within one hundred twenty (i20) days after the Effective Date, Depot, at Depot's option, may elect to cancel this Agreement whereupon each party shalt be relieved from its obligations hereunder. Depot may exercise its option by delivering written notice of cancellation to City within one hundred thirty-five (135) days after the Effective Date of this Agreement or set forth in the Escrow Agreement. 6. Depot represents and warrants to City as follows, which representations and warranties shall be deemed made by Depot to Ciry as of the Effective Date and as of the closing date and shall survive the closing: A. There are no parties in possession of any portion of Depot Parcel other than Depot. B. 'There is no pending or threatened litigation or other proceeding or assessment affecting Depot Parcel. Page 5 of 11 C. Depot has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to Depot Pazcel or any part thereof. D. Depot is authorized to enter into this transaction and has full authority to convey Depot Pazcel to the City without violating any rule, law, statute, agreement or other condition. E. Depot shall maintain Depot Parcel in the same condition it exists as of the Effective Date of this Agreement, reasonable wear and tear excepted, to the date of conveyance of the Depot Parcel. F. Depot is not a party to any unrecorded contracts, restrictions, easements, leases, option contracts, or rights of first refusal with respect to Depot Parcel. G. Depot warrants that it will not, between the Effective Date and the date of recording under the Closing Escrow Agreement, without the City's prior written consent, create by Depot's consent, any encumbrance on Depot Parcel or the Temporary Easement which will not be discharged at closing. 7. CITY PARCELS CONVEYED AS 1S. WHERE IS. Except as otherwise provided in this Agreement, the City makes no warranty or representation regarding the title to the City Parcels and makes no representation or warranty either expressed or implied regarding the condition, operability, safety, fitness for intended purpose, use, governmental requirements, development potential, utility availability, legal access, economic feasibility or any other matters whatsoever with respect to the City Parcels. Depot specifically acknowledges and agrees that the City shall convey the City Parcels on an "AS IS, WHERE IS, AND WITH ALL FAULTS" basis and that, except for the City's representations and warranties specifically set forth in this Agreement, Depot is not relying on any representations or warranties of any kind whatsoever, express or implied, by City or its respective agents, officers, or employees, as to any matters concerning the City Parcels including, without Limitation, any matters relating to (1) the quality, nature, adequacy, or physical condition of the City Parcels (2) the quality, nature, adequacy or physical condition of soils, fill, geology, or any groundwater, (3) the existence, quality, nature, adequacy or physical condition of utilities serving the City Parcels, (4} the development potential, income potential, expenses of the City Parcels (5) the Gity Parcels' value, use, habitability, or merchantability, (6) the fitness, suitability, or adequacy of the City Parcels for any particular use or purpose, (7) the zoning or other legal status of the City Parcels, (8) the compliance of the City Parcels or its operation with any applicable codes, laws, rules, regulations, statutes, ordinances, covenants, judgments, orders, directives, decisions, guidelines, conditions, or restrictions of any governmental or quasi-governmental entity or of any other person or entity, including, without limitation, environmental person or entity, including without limitation, environmental laws, (9) the presence of Hazardous Materials (as defined herein) or any other hazardous or toxic matter on, under, or about the City Parcels or adjoining or neighboring property, {10) the freedom of the City Parcels from latent or apparent defects, (11) peaceable possession of the City Parcels (12) environmental matters of any kind or nature Page 6 of 11 whatsoever relating to the City Parcels (13) any development order or agreement, or (14) any ather matter or matters of any nature ar kind whatsoever relating to the City Parcels or any improvements located thereon. The City shall not have any obligation to repair, replace, or remediate *.he City Parcels or any portion thereof, and Depat understands that the City Parcels are conveyed "t'~.s IS." As used herein, the term "Hazardous Materials" means (i) those substances included within the definitions of "hazardaus substances", "hazardous materials", "toxic substances" or "solid waste" in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §960 et seq., the Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6901 et seq., the Hazardous Materials Transportation Act, 49 U.S. C. §1801 et seq., or the Clean Water Act, 33 U.S.C. § 1321 et seq., as amended, and in the regulations promulgated pursuant thereto; (ii) those substances listed in the United States Department of Transportation Table (49 CFR § 172.101 j or by the Environmental Protection Agency as "hazardous (...~ substances", "hazardous materials", "toxic substances" or "solid waste" m such other substances, materials and wastes which are regulated, or classified as hazardous or toxic, under applicable local, state or federal laws, ordinances or regulations; and any material, waste or substance which is petroleum, asbestos, polychlorinated, biphenyls, flammable explosives ar radioactive materials. Notwithstanding the foregoing, from and after the Effective Date, City shall operate and maintain the City Parcels and shall cause the City Pazcels to be operated and maintained i^ a manner generally consistent with past practices and in a mariner fully compliant with applicable law and the City shall reasonably endeavor to prevent the introduction of any Hazardous Materials onto the City Parcels, reasonable wear and tear excepted. Prior to the Effective Date of this Agreement, Depot has inspected the City Parcels and has agreed to take title to the City Pazcels "AS IS" by quit-claim deed or abandonment, as the case may be, with all defects and faults, and subject to easements, restrictions, reservations and all other matters of record. 8. This transaction shall be closed and the deeds and possession of the respective parcels ~ri11 be delivered and exchanged pursuant to the Closing Escrow Agreement, but no later than The closing shall take place in Delray Beach, Florida at a time and. place designated by Cin-. ~, - ~~cC.rt~sc;r ~t~ `L~ -1 9. Documents for closing. A. City shall deliver to the escrow agent appointed in the Closing Escrow Agreement ("Escrow Agent") the following executed dacuments ai or prior to closing: ] . Quit-Claim L7eed to City Parcel 1, City Parcel 2 and City Parcel 3. Resolution abandaning City Parcel 2 and City Parcel 3 Pale 7 of 11 3. Such other documents that are identified in this Agreement and may be reasonably necessary in the opinion of City's counsel or Depot's counsel to consummate the transaction described in this Agreement. B. Depot shall deliver to the Escrow Agent the following executed documents at or prior to closing: 1. Special Warranty Deed conveying Depot Parcel to City. 2. Affidavits and other documents required by the title insurer to delete the standazd exceptions from the title insurance commitment and owners' rnazketability title insurance policy for the Depot Parcel. Depot Square. The executed and recordable final approved Plat of Historic 4. The Temporary Easement. Recordable Work Force Housing Covenant. 6. Recordable Historic Depot Square Declaration of Covenants and Restrictions and related documents. 7. Closing Escrow Agreement. 8. Such other documents that are identified in this Agreement and as may reasonably be necessary in the opinion of City's counsel or Depot's counsel to consummate the transaction described in this Agreement. C. Notwithstanding anything to the contrary contained in this Agreement or the Closing Escrow Agreement, the delivery of the closing documents by City and Depot to the Escrow Agent shall take place simultaneously on the Closing Date. 14. Prior to closing, each party shall beau- the risk of loss or damage to their respective Parcels from fire or other casualty. 11. ADJUSTMENTS AT CLOSING. The following are to be apportioned pro-rata as of 11:59 P.M. E.S.T. on the day prior to Closing: A. All real property taxes. In the event that, fol]owing the Closing, the actual amount of assessed ad valorem real property tax on the Parcels for the current year is higher or lower than any estimate of such tax used for purposes of the Closing, the parties shall re-prorate any Page 8 of 11 amounts paid or credited based on such estimate as if paid in November, within thirty (30) days after written demand is made upon the other parry. 12. DEFAULT . If Depot fails, neglects or refuses to perform this Agreement within the time specified, City, at City's option, may proceed in at law or equity to enforce City's rights under this Agreement. If City fails, neglects or refuses to perform this Agreement within the time specified, Depot may proceed at law or in equity to enforce Depot's rights under this Agreement. 13. TIME. Time is of the essence in this Agreement. Any time period in this Agreement shall be measured in calendar days, unless otherwise stated herein, and if the last day for an act falls on a Saturday, Sunday, or holiday on which the United States Postal Service ("USPS") does not deliver mail, the time period for performing the act shall be extended through the next weekday which is not a weekend or day on which the USPS does not deliver mail. 14. BROKER. A. City represents that it has not listed the City Parcels for sale or otherwise entered into any agreement for the payment of a real estate brokerage commission regarding the conveyance of the City Parcels. B. Depot represents that it has not listed the Depot Parcel for sale or otherwise entered into any agreement for the payment of a real estate a brokerage commission regarding the conveyance of Depot Parcel. 15. COSTS. Depot shall be responsible for the costs and expenses related to the recording of all of the recordable instruments described in paragraph {11) of this Agreement. All expenses related to obtainment of title insurance for the Depot Parcel and documentary stamp taxes to be affixed to the deeds of conveyance of City Parcels and Depot Parcel shall be paid by Depot. Each party shall pay for its own survey, inspection and financing costs, and attorney's fees. 16. ENFORCEABILITY. If any term, covenant or condition of this Agreement, or the application thereof to any person or circumstance, shall be determined to be unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such term, covenant or condition to persons, entities or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby and each term, covenant and condition of this Agreement shall be valid and enforced to the fullest extent permitted by law. 17. N0 MERGER. All warranties, representations, covenants, terms and conditions herein contained which are intended to survive the closing, shall not merge v~~ith the deeds. 18. NOTIC .Except as otherwise provided herein, ail written notices shall be effective upon the actual receipt or first refusal of the addressee to accept delivery after having been sent by Page 9 of 1 l reputable overnight delivery service or by certified mail, postage prepaid, return receipt requested, to the following addressees: CITY: City of Delray Beach 200 N. W. I u Avenue Delray Beach, Florida 33444 Attention: R. Brian Shutt, Ciry Attorney With Copy to: Steven D. Rubin, Esq. 980 North Federal Highway, Suite 434 Boca Raton, Florida 33432 Telephone: (561) 391-7992 Fax: (561)347-0828 DEPOT Depot Industrial Center, LLC 250 N. W. 4~' Diagonal Boca Raton, Florida 33432 With a Copy to: Michael Listick, Esq. 190 S. E. 5'" Avenue Delray Beach, Florida 33483 Telephone: (561} 276-7424 (561}278-6909 19. EFFECTIVE DATE. The Effective Date of this Agreement shall be the date when the last one of the City and Depot have signed or initialed this Agreement. 20. GOVERNING I.AW. This Agreement shall be governed by the laws of the State of Florida. 21 ENTIRE AGREEMENT. All prior understandings and agreements between City and Depot are merged in this Agreement. This Agreement completely expresses their full agreement. 22. NO ORAL CHANGE. This Agreement may not be changed or amended orally. 23. SUCCESSORS/NO ASSIGNMENT. This Agreement shall and bind and inure to the administrators, executors, successors and assigns of City and Depot, respectively. Depot shall not assign this Agreement and any purported assignment of this Agreement by Depot shall be a default. 24. COUNTERPARTS: This Agreement may be executed in two or more counterparts, each of which shall be and shall be taken to be an original and all collectively deemed one instrument. The parties hereto agree that a facsimile copy hereof and any signatures hereon shall be considered for all purposes as originals. Page 10 of 11 25. RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health unit. 26. GOVERNMENTAL FUNCTIONS: Notwithstanding anything to the contrary contained in this Agreement: a. Even though the City has certain contractual obligations under this Agreement such obligations shall not relieve any person subject to this Agreement from complying with all applicable governmental regulations, rules, laws, and ordinances. b. 'fo the extent approval or permission must be obtained from the City, such approval or permission shall be granted or denied in accordance with applicable governmental regulations, rules, laws, and ordinances, and no person shall have any vested rights. c. The City has not waived its sovereign immunity and the limits of tort liability set forth in F. S. § 768.28 (5)(2008) of $100,000.00 per person and $200,000.00 per occurrence shall apply; and d. Any action by City shall be without prejudice to, and shall not constitute a limit or impairment or waiver of, or otherwise affect City's right to exercise its discretion in connection with its governmental or quasi-governmental functions. IN WITNESS WHEREOF, we have hereunto set our hands and seals on the day and year above written. Witness Witness ./~.~1 Wi ass , r Witness CITY OF DELRAY BEACH, a Florida Municipal Corporation BY: Nelson S. McDuffie, Mayor Date: DEPOT INDUS RI L C ~1~R, LLC, a Florida Limi . i pany BY: THO AS I-l~E , M ager Page 11 of 11 EXHIBITS TO AGREEMENT TO EXCHANGE REAL PROPERTY Exhibit "1" - City Parcel 1, a~k/a "Tract A-3" as shown on the proposed Plat of Historic Depot Square. Exhibit " 2" - City Parcel 2, a/k/a a portion of Tracts B-1 and B-2, as shown on the proposed Plat of Historic Depot Square. Exhibit " 3" - City Parcel 3, consisting of a ten (10') foot strip of land, south of the right-of--way of N. W. 2~ Street, Delray Beach, Florida (a/k/a a portion of Depot Road). Exhibit "4"- Depot Parcel and is also kmown as "Tract A-2" as shown on the proposed Plat of Historic Depoi Square. Exhibit "5" - Title Insurance Commitment permitted exceptions per paragraph (4)(A}(3). Exhibit "6" - Roadway Improvement Agreement Exhibit"7" - Temporary Easement Exhibit "8" - Reserved Rights Declaration Exhibit "9" - Closing Escrow Agreement TRACT A-3 CONVEYANCE CITY OF DELRAY BEACH TO DEPOT INDUSTRIAL CENTER, LLC LEGAL DESCRIPTION: TRACT A-3 A PORTION OF LAND LYING !N SECTION 18, TOWNSHIP 46 SOUTH, RANGE 43 EAST, CITY OF DELRAY BEACH., PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE SW CORNER MACK INDUSTRIES DELRAY-PLAT AS RECORDED IN PLAT BOOK 43, PAGE 138 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY FLORIDA; SAID CORNER BEING ON A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 541.40' AND A DELTA ANGLE OF 22'30'03"; RADIAL BEARING THROUGH SAID CORNER BEARS S81'25'47"E; THENCE NORTHWESTERLY ALONG SAID CURVE AN ARC LENGTH OF 212.62 FEET TO A POINT OF TANGENCY; THENCE N13'S5'S2"W A DISTANCE OF 79.15 FEET TO THE POINT OF BEGINNING; THENCE N89'39'19"W A DISTANCE OF 22.90 FEET; THENCE N00'48'37"W A DISTANCE OF 100.63 FEET; TO A POINT ON A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 25.00 FEET AND A DELTA ANGLE OF 13'06'33"; RADIAL BEARING THROUGH SAID POINT BEARS S89'11'23"W; THENCE SOUTHEASTERLY ALONG SAID CURVE AN ARC DISTANCE OF 5.72 FEET TO A POINT OF TANGENCY; THENCE S13'S5'52"E A DISTANCE OF 97.97 FEET TO THE POINT OF BEGINNING; CONTAINING 1,119 SQUARE FEET MORE OR LESS c,tn lrrrc,~ rrurv: SCAtE: N/A ruuNUtu /yy~ TNlS sKETGi MEETS MINIMUM TECHNICAL STANDARDS AS SET FORTH 8Y THE FLORIDA BASEL/NE Q ENGINEER/NG 80ARD OF PROFESSIONAL SURVEYC:tS AND MAPPERS JN CHAPTEP, 6JCJ7-6, FLORIDA DRAWN BY D./.M. ADMINISTRATJYE PURSUA 7n sECT?ON X72.027, FLORIDA STATUES AND CHECKED BY.• M. J.A. LAND SUR ~EY/NG, INC. -~ ~- ~ ~/ ERNEST W DUNC/N. PSM. S(ofe of f7o~;d~olc 1400 N. W. 1St COURT P~otessional Surveyor dr Moppe~ No. 5782 BOCA RATON, FLOR/DA 334.32 7NlS ORAN?NC, SKETCH, PLAT, OR MAP IS FOR INFORMATION PURPOSES ONLY AND !S EB 6510 (561 417-0700 LB 6439 N07 YALID, UNLESS !7 8EAR5 7NE SIGNA7URE AND THE ORIGINAL RAISED SEAL OF A JOB NO.: Q5-05--013 SHEET N0. 1 of 2 F7 (1Dfnd II!`FIJCFn GlfRVFYAR dAlf] 1/dDPFP ~ R=25.D0' ~ D=13'06'33' w ~ L=5.72' Z ~ ~ ~ S89'1l'23'W (f} I- o ~ MACK INDUSTRIES-DELRAY ~ v w P.B. 43, PG. 138 ~ o Q 3 N_ ~ t. , u~ ~ Q mo w ~~ O ~~'~ ~. H P 0.. /~ N89'39'19'W I r 22.90' (lJ I Q 3 N N U SE COB. PLAT - ,vfACK r ~ lNDUS7RlES DELRAY i~, ~ z. ~- a 0 Ln 1 ~~ J ~ ~ U v. O N ;~~ N W (Y ~N W~ ZA ~~ D ~j ~ Y ~3a ~N~ m La iz ~J F-- ti3 w 3~ Inc rt,n yr rr~N~.,, /`i-~ ~,v-v,r,rv~~ CER TI F! CA TJ UN: SCALE ! ° = 8D' FOUNDED 1993 TTiJS SKETCH MEETS MfIJfMUU TECHNICAL STANDARDS AS SET FORTH BY THE FLORID BASEL/NE ~ ENGINEER/NG BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS 1N CHAPTER 61C17-S, FLORIDA DRAWN BY D.J.M. ADMINISTRARYE~J. BUR U SECTION 472.027, FLORIDA STATUTES AND C% ~-~ -~ ~ CHECKED BY ~W J.A. LAND SURIiEYING, /NC. ERN£ST W. DUNCAN. PSM. Stole of F1a'idtlJote 1400 N. W. 1st COURT Professional Su~veynr ctc Afapper No. S1B2 BOCA BATON, FLORIDA ,3,34,32 7Nf5 DRAWING, SKETCH, PLAT, OR MAP fS FOR JNFORMATION PURPOSES ONLY AND fS EB 6510 (561 417-0700 LB 6439 NOT VALID, UNLESS f7 BEARS THE SIGNATURE AND THE ORIGINAL RAISED SEAL OF A .,,..,,,,. ,,,.~..~~-„ ~„o„~..,,,D A.,D IIADOCO /OB NO.: 05-OS-OIJ SHEET NO. 2 of 2 Exhibit " 2" City Parcel 2, a/k/a a portion of Tracts B-1 and B-2, as shown on the proposed Plat of Historic Depot Square. DEPtJT ROAD -PARCEL TO BE ABANDONED LEGAL DESCRIPTION OF RIGHT OF WAY THAT CITY iS CONVEYING TO DEVELOPER: A PARCEL OF LAND LYING IN SECTION 18, TOWNSHIP 46 SOUTH, RANGE 43 EAST, CffY OF pELRAY BEACH, PALM BEACH COUNTY, FLORIDA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NE CORNER OF SAIp SECTION 18; THENCE N 89'09'21" W, ALONG THE NORTH LINE OF SAID SECTION 18, A DISTANCE OF 251.13 FEET; THENCE S 14'28'43" W, ALONG THE EAST RIGHT OF WAY LINE OF THE CSX RAILROAD, A DISTANCE OF 143.88 FEET TO A POINT ON A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 600.00 FEET AND A DELTA ANGLE OF 11 °49'20"; RADIAL BEARING THROUGH SAID POINT BEARS N 00°33'26" W; THENCE EASTERLY, AN ARC DISTANCE OF 123.80 FEET TO A POINT ON A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 215.00 FEET AND A DELTA ANGLE OF 27'38'45", RADIAL BEARING THROUGH SAID POINT BEARS S 65°39'44" E; THENCE SOUTHERLY ALONG SAID CURVE AN ARC LENGTH OF 103.74 FEET TO THE POINT OF BEGINNING, SAID POINT HAVING A RADIAL BEARING OF N 86°42'29" E AND BEING A POINT OF COMPOUND CURVATURE, HAVING A RADIUS OF 215.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE, CONCAVE EASTERLY AND HAVING A DELTA ANGLE OF 01°11'48", AN ARC DISTANCE OF 4.49 FEET TO A POINT OF TANGENCY; THENCE S 04'29'19" E, A DISTANCE OF 982.51 FEET, THENCE S 31°05'49" W A DISTANCE OF 160.88 FEET TO A POINT ON THE NORTH RIGHT OF WAY LINE OF N.W. 2ND STREET; THENCE S 89°56'26" E A DISTANCE OF 204.24 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF INTERSTATE I-95 AS RECORDED IN OFFICIAL RECORDS 2187, PAGE 1256; SAID POINT BEING ON A CURVE CONCAVE WESTERLY, HAVING A RADIUS OF 1063.52 FEET, WHOSE RADIUS BEARS N 85°23'36" W; THENCE NORTHERLY ALONG SAID CURVE HAVING A DELTA ANGLE OF 8°39'43" AN ARC LENGTH OF 160.85 FEET; TO A POINT OF TANGENCY; THENCE N 04°03'20" W ALONG SAID WEST RIGHT OF WAY IJNE OF I-95, A DISTANCE OF 506.19 FEET; THENCE N 08'04'42" W ALONG SAID WEST RIGHT OF WAY LINE OF I-95 A DISTANCE OF 94.11 FEET TO A POINT ON A CURVE; SAID CURVE CONCAVE EASTERLY HAVING A RADIUS OF 3969.72 FEET; THENCE NORTHERLY ALONG SAID CURVE (BEING ON THE WEST RIGHT OF WAY LINE OF I-95) HAVING A DELTA ANGLE OF 5°31'47" AN ARC DISTANCE OF 383.13 FEET TO A POINT ON A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 73.00 FEET WHOSE RADIUS BEARS N 6i'39'17" W, THENCE WESTERLY ALONG SAID CURVE, HAVING A DELTA ANGLE OF 105'17'12", AN ARC DISTANCE OF 134.14 FEET TO THE POINT OF BEGINNING. DESCRIPTION OF ROAD RIGHT OF WAY ABANDONMEN T CER TlFI CA TION: SCALE: N/A FOUNDED 1993 THIS SKETCH MEETS MINIMUM TECHNICAL STANDARDS AS SE7 FORTH 8Y THE FLORIDA BASELINE Y ENGINEERING 80ARD OF PROFESSIONAL SURVEYORS AND MAPPERS !N CHAPTER 61C17-6, FLORIDA DRAWN BY.' D/.M. ADMINISTRATIVE COD RSUAN ECTION 472027, FLORIDA STATUTES. AND ~~ /~ CHECKED BY M.J.A. LAND SUR KEYING, lNC '~... C,~..~-~ ,__._ G "% S -i / 1400 N. W 1st COUP, T ERNEST -st DUNCAN. PSM. state of FToridQ7ote BOCA RA TON, FLORIDA 33432 Professional Surveyor rk /dapper No. 5182 THIS DRAwtNG, SKETCH, PLAT, OR MAP IS FOR INFORMAAON PURPOSES ONLY AND IS EB 651D (561 417-0700 LB 5439 N07 VALID. UNLESS IT BEARS 7H£ SIGNATURE AND THE ORIGINAL RAISED SEAL DF A ,/pB ND.: 05--05-013 SHEET NO. 1 Ot 3 FLORIDA LICENSED SURyEYOR AND MAPPER. N89'09'21 "W 251.13 0 ~ NORTH LINE SECTION 18 3 o POINT OF COMM N M NT o ~ NORTHEAST CORNER SECTION I- ~ 3 18, TOWNSHIP 4fiS, RANGE 43E o ¢~ ao U II ~ ~ ~~ N S ~~ ~ ~ r~D 4 E L<i ' ~~(~ ' ' " - ~. a A.123.80 ~ U ' o 20, ~, c n ~ °o, ~=11'49 a c,~ R=600.00 ,.~ cb ° ~Q ~ X6 ~L I Q c..~ ° ~ 1 • Drn 'Q ~~~'~~ 9>>jY ~5 a , w,N86'42'29"E '~~`~PO~Q~1 (RADIAL) A=134.14' POINT OF BEGINNING ~=105'17'12" PARENT TRACT - R=73.00' . o -°~ °' r a ~ ~ ~ Y ' ll `~ Boa ~ ~ ~ to N ~ OOd ~ ~LL' '- - iv ~~r Z ~ w Qr C.D o za ,.,~ M ~ Q ~ 3 ,.~ (Y7 co w ~ ~ CV Q~ ~ C3_ N ~ ti ID 00 4 Op ~ L_L_I 4 ~ ~~ Z~ Z ~> O co w f= d ~ - p .~ D7 tJ ~ ~ N N Q ~ z ~ Q zo o c°n O ~ ~ a ~- ~ ~ m v W o a O r r ~ r:d- ~' ~ ~~ MATCH LINE z SKETCH OF ROAD RIGHT OF WAY ABANDONMENT CER TlFI CA TlON: SCALE: 1 " = 8Q' FOUNDED 199,3 THIS SKETCH MEE75 M/N1MUM TECHNICAL STANDARDS AS SET FORTH BY THE FLORID BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS !N CHAPTER 67G77-6, FLORroA ORA{'YN BY D.J.M. BASELINE ~ ENGINEER/NG ADMINISTRATIVE COD~J~'~ SU r'T~SEC710N an.D2~, FLORIDA STArv7ES. `l~._ .}~~ ~, , /~ _; / CHECKED BY M, J.A. AND LAND SURiiEYING, INC. ` ERNEST H! DUNCAN. PSbI. State o/ Florid ate 1400 N W. 1st COURT BOCA RA TON FLORIDA 33432 Pra/essionol Surveyor cQ Mopper No. 5182 TNtS DRAWING SKETCH, PLAT; OR MAP IS FOR INFORMATION PURPOSES ONLY AND fS , EB 6510 (5611 417-0700 LB 6439 N07 VALID, UNLESS !7 BEARS THE SIGNATURE AND 7NE ORIGINAL RAISID SEAL OF A FLORIDA LICENSED SURVEYOR AND MAPPER. JOB lYD.: OS-O5-O13 SHEET NO. Z Of 3 ---- MATCH LINE 0 II N ~ ~ Q U to ~ W ~_ r'~ pp ~ am CV am r W Z C~ ~ ~ ~ ~ r~ CD In N ~ O ~ ~ r tY CJ D ~ ~X L~ ~ O Q Z ~ ~ Q ~ ~ ~ p z Q o ~ ~ (I1 0o J Oco ~ ~ m Z ~ Nm ~ ~ ~ ° m z `°~ ° ~ ~ w o ~ ~ ~> o 3 0 I O r Q ~o M .D~ I~ a0 QOM 4 S89'56'26"E 204.24' ~ NORTH RIGHT OF WAY LINE N.W. 2nd STREET SKETCH OF ROAD RI CN T OF WAY ABANDONMEN T CER T!FlCA TION: SCALE: f " - 80' FOUNDED 1993 THIS SKETCH MEETS MINIMUM TECHNICAL STANDARDS AS SET FORTH BY 7HE FLORIDA BASELINE ~ ENG/NEERING BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS 1N CHAPTER 67G77-6, FLORIDA DRAWN BY D.J.M. ADMWlSTRATIVE CODE, PURS TO SECTION 47,,x.027, FLORIDA sraTU7FS. AND .~ '~ , ~ CHECKED BY M. J.A. LAND SUR KEYING, INC. ERN£ST W. OJNCAN PSM. State of FloridoDote 14x(7 N ~ iSl COURT P~o/essionol Surveyw do Mopper No. 5182 BOCA RA TON, FL OR/DA ,33432 7HIS DRAWING, SKETCH, PLAT OR MAP !S FOR INFORMATION PURPOSES ONLY AND 15 EB 6510 X561) 417-0700 LB 643 NOT VAUO, UNLESS IT BEARS THE SICNANRE AND THE ORIGINAL RAISED SEAL OF A JOB NO.: 05-05-013 SHEET N0. 3 Of 3 Cf /1D11'f A 1 )l`CAICCfI Cf IDLTVl1D dAl/1 lI6 DDF'A Exhibit " 3" City Parcel 3, consisting of a ten (I O') foot strip of land, south of the right-of--way of N. W. 2"~ Street, Delray Beach, Florida (a/k/a a portion of Dcpot Road). PORTION OF NW 2ND STREET ABANDONMENT A PORTION OF MACK INDUSTRIES-DELRAY, AS RECORDED IN PLAT BOOK 43 PAGE 138 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINING AT THE NE CORNER OF SAID MACK INDUSTRIES-DELRAY PLAT (P.O.B.), THENCE N 89°56'26" W, A DISTANCE OF 149.78 FEET TO A POINT QF CURVATURE; -SAID CURVE CONCAVE SOUTHEASTERLY, HAVING A RADIllS OF 25.00 FEET AND A DELTA ANGLE OF 90°52'11 ", THENCE SOUTHWESTERLY ALONG SAID CURVE, AN ARC DISTANCE OF 39,65 FEET; THENCE N 00°48'37" W, A DISTANCE OF 10.00 FEET; TO A POINT OF CURVATURE CONCAVE SOUTHEASTERLY, HAVING A RADIUS OF 25 FEET AND A DELTA ANGLE OF 90°52'11 "; THENCE NORTHEASTERLY ALONG SAID -CURVE FOR AN ARC DISTANCE OF 39.65 FEET TO A POINT OF TANGENCY; THENCE S 89°56'26" E, A DISTANCE OF 149.78 FEET; THENCE S 00°48'.37" E, A DISTANCE OF 10.00 FEEL TO THE POINT OF BEGINNING; CONTAINING 1,752 SQUARE FEET, MORE c.tr, rrrrc,Hlruty: SCAL~~~ N/A THIS SKETCH MEETS bf1NlAAUAt TECHNICAL STANDARDS AS SET FORTH BY 7HE F2DRlDA BOARD OF PRDFESSIONAL SURVEYORS AND MAPPERS M CHAPTER 61617-6, FLORfDA DRAWN BJ' D.J.M. ADMINl57RATJVE C~7DE, iP RSUANT 0 CT10N 472.027, FLORfDA STATUTES. ~~„ . , ~ L^ ~ C ` ~ ! J CHECKED BY M. /.A. ERMES7 YY. O(7NCAN PSM. State of f7oridg7ote Professiono/ Surveyor & Mopper No. 5182 THfS DRAWING, SKETCH, PLAT OR .MAP 15 FOR fNFDRMATION PURPOSES ONLY AND 1S NOT VALID, UNLESS 17 BEARS THE SIGNATURE AND 7HE ORIGINAL RAISED SEAL OF A FOUNDED 199,3 BASELINE ~ ENGINEER/NG AND LAND SURVEYING, INC. 1400 N W. 1st COURT 80CA RA TON, FL OR1DA 3.3432 EB 6510 X561) 417-0700 LB 64.3. JOB NO.: 05-05-01.3 SHEET N0. 1 0( 2 NV~~ 2ND STF~EET p 0,1 ~ a S84'S6'26'E ^~ II ~q~ ~ 1,752+/- SQUARE FEET ;boo I ~a~ 0 ~~? N89'S6'26'W ~° h 21.y~ a 144,78' y m 3 °- ~ 0 ~1 b ~ m ~'! t o Uy ~ 4 ~0 N m o a '_~ y SR/W 4 v ~~ a I NW 2nd STREET o ~ Z Z z~ O o=~ ~ Q Q Z ~ ~ I ~ f ~ w ~ ~ o ~ ~ WQ ~ ~ `~ ~ ~ ~ ~ ~ w ~ Q Q ~ ~ ~~ ~ ~ ° ~ rrj ~ ~ Q 0 °m ~ m n ~- Q 1 1 1 SKETCH OF NW 2ND STREET ABANDON1vIENT CER T1 FI C,4 T1 ON: SALE. 1 ' = 80' FOUNDED 1993 MlN1MUM TECHNICAL STANDARDS AS sE7 FORTH 8Y THE FLORIDA THI CH bIE E ' ENGINEER/NG BASELINE f S SK T ETS 80AR0 OF PROF~SSJONAL SURVEYORS AND MAPPERS !N CHAPTER fi7G17-6, FLORIDA DRAWN BY D.J.M. ~ AOMINISTRA7)VE CO~URSUANT~fO''S€CTION 472.027, FLORIDA STA7U7`S. ,~- ~ ,~ ~ ~ C ._ ; .3 __~ ~ CHECKED BY.- M,./.A. AND LAND SURI/EYfNG, INC. ! _ 1400 N. W. 1st COURT ERN£Sr W. DUNCAN_ PSN.. Stole of Fforrd~ote Professional Surveyor ck Mapper No. 5182 BOCA RA TON, FLORIDA 33432 417 0700 TH15 DRAri7NG, SKETCH, PLAT, OR MAP !S FOR 1NFORMA710N PURPOSES ONLY AND 1S - EB 65x0 (56.1 LB 6439 ND7 VALfO. UNLESS !7 BEARS THE SIGNATURE ANO THE ORIGINAL RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND AAAPPER. ,/OD NO.: OS-05-013 SHEET NQ 2 Of Z Exhibit "4" Depot Parcel and is also known as "Tract A-2" as shown on the proposed Plat of Historic Depot Square. TRACT A-2 CONVEYANCE DEPOT INDUSTRIAL CENTER, LLC TO CfTY OF DELRAY BEACH LEGAL DESCRIPTION: A PORTION OF MACK INDUSTlES-DELRAY AS RECORDED IN PLAT BOOK 43, PAGE 138 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE SW CORNER MACK INDUSTRIES DELRAY-PLAT; SAID CORNER BEING ON A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 541.40' AND A DELTA ANGLE OF 22'30'03"; RADIAL BEARING ~ THROUGH SAID CORNER BEARS S81'25'47"E; THENCE NORTHWESTERLY ALONG SAID CURVE AN ARC LENGTH OF 212.62 FEET TO A POINT OF TANGENCY; THENCE N 13'55'52"W A DISTANCE OF 79.15 FEET; THENCE S89'39'19"E A DISTANCE OF 187.16 FEET; THENCE S32'35'19"W A DISTANCE OF 66.30 FEET; THENCE S32'35'19"W A DISTANCE OF 43.58 FEET; TO A POINT ON A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 632.00 FEET AND A DELTA ANGLE OF 19'29'29"; THENCE SOUTHWESTERLY ALONG SAID CURVE AN ARC DISTANCE OF 215.00 FEET; THENCE N79°12'27"W A DISTANCE OF 16.25 FEET TO THE POINT OF BEGINNING; CONTAINING 23,055 SQUARE FEET MORE OR LESS. 1S SKETCH MEETS MINIMUM TECHNICAL STANDARDS AS SET FORTH BY THE FLOR10/ BOARD OF PROFE5570NAL SURI~EYDRS AND MAPPERS fN CHAPTER 61GT7-6, FLORIDA ADMINISTRAAVE PUR T SECTION 472027, FLORIDA STATUTES ~~~~ S-z~-~~ £RN£ST W. OUNCAN. PSM. State of Florldcflale Professiono/ Surveyor ~ Mopper No. 5142 THIS DRAWING, SKETCH, PLAT; OR MAP !S FOR INFORMATION PURPOSES ONLY AND !S N07 VALID, UNLESS IT QEARS THE SICNATUR£ AND THE ORICENAL RAISED SEAL OF A CONVEYA~ SCALE.• N/A DRAWN BY D. /.M. CHECKED BY M.J.A. FOUNDED 1993 BASEL/NE Q ENG/NEERING AND LAND SUR IiEY/NG, INC. 1400 N. W. 1st COURT BOCA RA TON, FLORIDA 33432 EB 6510 (561 417-0700 (B 643. ~'IB N0: 05-05-01.~ SHEET N0. 1 of 2 o k o ~ I o ~ K _ YI INDUSTRIES DELRA w MAC , " z P. PG. 138 B. 43 ~ ~ , w Q ~ Q ~ I ti~~ryh~ G~ ~ ~ S84'39'19'E 287,16' ~P CC ~ ~ ,~ CD Q I •°j . ~ryh (ham W 3 ~i2 b`a (n N ~ SE COR. PLAT -MACK I h ~ lNDUS7RlE5 DELRAY z ~ ~ ~h hW LL . n~ R~ r CU ~ W 1 ~ W Qti'- l17 raw vow Q C*1 ~ N ~ ~ ~ ~y W -~ . F--- ~ N W ~ Z A LY Z , -, O pgUY o3Q av~~ L ~ ~++u c N79~ 2.27'W RpDIgL~g ~ ~ 25' '~ NG 1'H75 SKETCH AfEETS A/MIIAIUId TECHNICAL STANDARDS AS SET FORTH BY 7HE FLORID/ BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN CHAPTER 61C17-6, FLORIDA ADMINISTRA7)VE C0~ URS SEC77ON 472027, FLORIDA STATUTES (~ ~'~ ~t ~ ERNEST W. DUNCAN. PSM. Stole of Florfd~ote Professionol Surveyror ~ Mopper No. 51 B2 THIS DRAriTNG, SKETCH, PLAT. OR AlAP fS FOR lNFORMATTON PURPOSES ONLY AND !S NOT VALID, UNLESS 1T BEARS 7NE S7CNATURE AND THE ORIGINAL RAISED SEAL OF A rn ~ / ~ ti F~ ~ Q ~ ~ ~ N ti ~ a ,Z a u~ mw iz .~ J }- cn 3 w 3~ HJL l.Vl SCALE: 1 " = 80' PRAI4JV BY.• D.J.IY BY M.J.A. FOUNDED 1993 BASEL/NE Q ENGINEERING AND LANO SUR KEYING, INC. 1400 N. W. 1st COURT BOCA RATON, FLORIDA 3,432 EB 6510 ~561~ 417-0700 LB 64.~~ JOB NO.: 05-05-07.~ SHEET ND. 2 of 2 Exhibit "5" Title Insurance Commitment permitted exceptions per paragraph (4)(A)(3). OLD REPUBLIC 1VATIONAI_ TITLE INSURANCE COMPANY COMM1'TMENT Schedule B-II Fund File Number: Agent's File Reference: 06-2008-007200A1 Historic Depot/Delray Beach II. Schedule B of the Policy or Policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: ~oposed Insured acquires for value of lout-~ C~~ u~h~ei.-yet-due-and-payable. ~~~ b-~ht~s-e~-e~laitt~s-ef~arties-i-n-pessession-rn~t-recm~ded-imbq-ttre-Pubtie~Recards. ~ ~ ~~I ~_.~ ~~ c--~y+-~es~~~^~,n--~:=~bra~se,---uiolakort;-~nr~a~iea-er-ad-uc+se-cir-surastancp that wo~~lri hP ri;crlosed_)~n it+sp~cbiea-c~a~-,aid-set~alete-land-su3=vey-a~tl-e-L-end-afld~speettam6ffihe-Land. iJ-~. ~-Q. ~'L dZr-83~irciii3; c~cra21T1S'0'f C2t5CiTTCn , blIC~2CIIl'dS. ', ~ , 'J,~ ~{ R2E(3F~-- ~ .~. 1-~~~ 3. Any Omer Policy issued pursuant hereto will contain under Schedule B the following exception:.9ny adverse ownership claim by the Ctate of Florida by right of sovereignty to any portion of tl:e Lands insured hereunder, including submerged, filled and artificially exposed lands, and lands accreted to such lands. 4. Taxes For the year 20 ] 1, which are not yet due and payable. 5--~-t~-~ig~-~t~ na~_ _.~,~ ~, ~. m i~L1~.~~c~ I• 6. All matters contained on the Plat of Model Land Company's Subdivision of the North l/2 and part of the South 1/2 of Section 18, Township 46 South, Range 43 East, as recorded in Plat Book 6, Page(s) 51, Public Records of Palm Beach County, Florida. 7. Declaration of Restrictions recorded in O.R. Book 3616, Page 1067, Public Records of Palm Beach County, Florida. 8. All matters contained on the Plat of Mack Industries-Defray, as recorded in Piat Book 43, Page(s) 138, Public Records of Palm Beach County, Florida. 9. Ordinance of the City of Delray Beach recorded in O.R. Book 5887, Page 244 and O.R. Book 6620, Page 1707, Public Records of Palm Beach County, Florida. r b b ~ 'fad--Beasl~]i~4e~i .}- _, +~~eeer~s-e€-Palm 8-eaelr-Ee~rt~-1`}or-ide-{q~a-lie-rtc-c~ed)- ~ ~ -L ~ ~ 1- 1 1. Al( matters contained on the Piat of Historic Depot Square, as recorded in Plat $ook , Page(s) _, Public Records of Palm Beach County, Florida. (To be recorded) - 12. Notice of Environmental Resource or Surface Water Management Permit by South Florida Water Management District recorded in O.R. Book 23383, Page 952 Public Reco!-ds of Palm Beach County. Florida. Forat Cf 6•SCN.-3•il (rev. 32!10) n, _ ,- ~ .. r ~. T-T~JIII"R't Exhibit "6" Roadway Improvement Agreement ROADWAY II\•IPROVE11~7ENT AGREEIt•IENT THIS AGREEMENT ("Agreement" or "Road~~~ay Improvement Agreement"} entered into this day of , 2011, between the CITY OF DEI,RAY BEACH, a Florida Municipal Corporation (hereinafter referred to as the "City") and DEPOT INDUSTRIAL CENTER, LLC, a Florida Limited Liability Company (hereinafter referred to as "Developer"), for the purpose of assuring the City that the Developer will complete the roadway improvements in the approved Site flan and engineering drawings of Smiley & Associates, Inc., and that the Developer provides a guarantee for the roadway improvements as required by the City of Delray Beach Land Development Regulations, Section 2.4.10. RECITALS: A. In connection with that certain Agreement to Exchange Real Property by and between the City and the Developer, the City has abandoned Depot Road (``Abandoned Depot Road") and the Developer has granted to City a temporary easement over, upon, across, and under Abandoned Depot Road until the Developer has completed the construction of the new roadway (hereinafter referred to as "Relocated Depot Road") the legal description of which is attached hereto and made a part hereof as Exhibit "A". B. The Developer has agreed to construct Relocated Depot Road, together with required subsurface improvements, at its expense, within forty-eight (48) months after the closing of the Agreement to Exchange Real Property (hereinafter referred to as the "Completion Date"). C. Developer has guaranteed to timely complete construction ofRelocated Depot Road, in part, by depositing with the City in the form of bond, cash or letter of credit, an amount equal to One Hundred Ten Percent (] 10%) of the estimated cost of completion of Relocated Depot Road, and its related subsurface improvements. However, City is not obligated to complete Relocated Depot Road if Developer fails to timely do so. City has the option to complete construction of Relocated Depot Road if Developer fails to timely construct it, or City may exercise City's Reconveyance Right pursuant to the Declaration of Reserved Rights and Agreement Not to Encumber Abandoned Depot Road ("Declaration of Reserved Rights"). If City is entitled to and exercises City's Reconveyance Right, the Bond will be returned to Developer as provided herein. D. This Agreement sets forth the Developer's obligations regarding the construction of Relocated Depot Road, subject to and in accordance with the teens and conditions hereinafter set forth, and the Developer acknowledges that this Agreement is not a substitute for or a satisfaction of the requirement imposed by the City Land Development Regulations for the execution and delivery to the City of a Subdivision Improvement Agreement and Guarantee for the improvements of the overall Historic Depot Square Project which are not included in this Agreement. NOW, THEREFORE, inconsideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency ofwhich are hereby acknowledged, the Page 1 of 9 City and the Developer hereby agree as follows: Incorporation of Recitals The above recitals are true and correct and are incorporated herein as if set forth in full. 2. Construction of Relocated Depot Road. a. The Developer, at the Developer's sole cost and expense, shall construct Relocated Depot Road and its related subsurface improvements (hereinafter collectively referred to as "Relocated Depot Road"} in accordance with: (i}the plans and specifications and criteria set forth on Exhibit "B" attached hereto and made a part hereof (the "Specifications"); and (ii) all legal requirements imposed by applicable governmental authorities having jurisdiction over Relocated Depot Road (the "Governmental Authorities"). The construction of Relocated Deport Road shall be performed by licensed contractors in a good workmanlike and non-negligent manner and in a Iien- free condition. b. The Developer shall apply for all necessary permits, licenses or other authorizations in connection with the construction of Relocated Depot Road as required by the Governmental Authorities (collectively, the "Permits''). c. Every contractor performing work for the Developer shall be reasonably insured and without cost to City, insured for any claim arising out of the work, and that City will be indemnified and held harmless for any claims that may arise out of the work. Owner shall comply with F. S. § 255.05 and F. S. § 287.133, if applicable. d. The Developer shall complete construction of Relocated Depot Road in accordance with the terms and conditions of this Agreement within forty-eight (48) months after the closing date of the Agreement for Exchange of Real Property. The City Engineer, in the exercise ofhis governmental functions, shall determine when construction ofRelocated Depot Road has been completed. ~~%hen the City Engineer determines that Relocated Depot Road has been completed and is fully operational as a City right-of--way, including completion of the final lift, the City Engineer shall execute and deliver to the City and Developer a Certificate of Completion. Time is of the essence for Developer's performance hereunder. f. The Developer simultaneously upon the execution ofthis Agreementherewith furnishes to the City a bond, cash or a letter of credit (hereinafter collectively referred to as the "Bond") in the sum of One Million One Hundred Six Thousand Six Hundred and no/100ths ($1,106,600.00} which represents the cast estimate for completion of construction of Relocated Depot Road plus ten percent (10°'0) for the Developer's post completion one (1) year warranty. If the Developer elects to utilize a letter of credit instead of cash or the bond ,the letter of credit shall Page 2 of 9 be issued by a focal national lending institution selected by Developer but subject to the reasonable approval of City, and the terms and conditions, and form and content of the letter of credit and bond shall be reasonably satisfactory to City's counsel and shall be issued in compliance with the City's Land Development Regulations. City may require Developer to use more than one (1 }local national banking institution to issue more than one (1) letter of credit which will aggregate in the amount equal to the bond, if necessary in City's opinion to adequately secure Developer's performance hereunder. The estimated costs for construction of Relocated Depot Road are: (i} $305,000.00 -sanitary (ii} $152,000.00 -water (iii) $227,000.00 -drainage (iv} $322,000.00 -paving Total: $1,OOb,000.00 plus ten percent (10%) = $l,lOb,600.00 g. The funds provided under the above referenced Bond are to secure for the Developer's obligation to construct and install all Relocated Depot Road improvements as called for on the approved Site PIan and engineering drawings of Sin~ley & Associates, Inc. to be completed by Developer in accordance with the specif cations of the City of Delray Beach. Upon issuance of a certif cafe by the City Engineer attesting to the fact that not less than fifty percent (50%) of all Relocated Depot Road improvements have been completed by Developer, the City shall release to the Developer one-half of the Bond (excluding the portion of the Bond which is designated for the one (1) year post completion warranty). Upon issuance of the Certificate of Completion by the City Engineer, the City shall release to the Developer the sum of One Million Six Thousand and no/1 OOths Dollars ($1,006,000.00), less any amounts previously released and less reimbursements, if any, and shall retain the balance of the Bond for the one (i) year post completion warranty period, except as otherwise provided in paragraph (3) of this Agreement. Notwithstanding anything to the contrazy in this Agreement, in the event of a conflict between the approved Site Plan and the drawings of Smiley& Associates, Inc., the specifications and requirements in the approved Site Plan and the City Land Development Regulations shall control. h. Developer warrants and guarantees that all labor, material and services performed or furnished by Developer or Developer's agents, subcontractors and employees shall be free from defects in materials and workmanship and performed in a good and workmanlike professional and non-negligent manner, for a period of one (1) year after the date of completion of Relocated Depot Road (whether completed by Developer or City). City shall notify Developer in writing at Developer's address as stated in this Agreement specifying the nature of any defect which occurs during the warranty period. Developer shall correct the defect or cause the defect to be corrected, at Developer's cost, within twenty-one (21) days after the date of City's written notice of the defect to Developer or sooner if the nature of the defect requires an immediate repair. If Developer fails to effect the correction of the defect with the required correction time period, City may correct the defect itself and City shall be reimbursed for such from the Bond, or such portion thereof which is necessary for reimbursement. The City may withdraw funds from the account Page 3 of 9 where the Band is held. If the amount remaining under the Bond is insufficient to reimburse the City for the costs and expenses to correct defects which arise during the one (1) year post completion warranty period, then the City shall submit invoices to the Developer and the Developer shall pay to the City the additional funds necessary far the costs and expenses the City incurred in connection with the correction of the defects. Payment by the Developer shall be made to City within ten (10} days after City notifies Developer to pay such invoice(s). In the event that there is a surplus remaining after the City's correction of defects which arise during the one (1) year post completion warranty period, the City shall remit or release the surplus amount to the Developer. 3. Failure to Timely Complete Construction. If the Developer has not completed construction of Relocated Depot Road by the Completion Date as determined in the judgment of the City Engineer, then the City is authorized, and has the option but not the obligation, to complete construction of Relocated Depot Road in accordance with the Specifications (the "City Construction"}, or, the City may exercise City's Reconveyance Right pursuant to the Declaration of Reserved Rights. a. If City elects to exercise City's Reconveyance Right and Abandoned Depot Road is reconveyed to City in accordance with the terms of the Declaration of Reserved Rights, City, within thirty (30) days after the effective reconveyance of Abandoned Depot Road to City, shall remit or release the Bond to the Developer, less any reimbursements to which the City is entitled, and less the amount the City is required to expend (for which the City is entitled to be reimbursed} to remove, install, replace, repair or modify any partially completed improvement made by Developer to Relocated Depot Road prior to the City's vacation and abandonment of it (as provided in the Declaration of Reserved Rights} so that the physical condition of abandoned and vacated Relocated Depot Road is in the same condition that existed before Developer commenced any construction of Relocated Depot Road. b. If the City elects to complete the City Construction, then upon completion of the City Construction, the City shall be reimbursed for such by disbursing the Bond, or such portion thereof, from time to time, as may be necessary for reimbursement. If the amount remaining under the Bond is insufficient to reimburse the City for the costs and expenses to complete the City Construction, then the City shall submit invoices to the Developer and the Developer shall pay to the City the additional funds necessary to pay the costs and expenses in connection with the completion of the City Construction. Payment by the Developer shall be made to City within ten (10) days after City notifies Developer to pay the invoice(s). If there is a Bond surplus remaining after the City's completion ofconstruction of Relocated Depot Road, then City shall remit or release the surplus to Developer, but City shall retain the sum of $100,600.00, or such amount which remains after City construction costs have been reimbursed to City, as the Bond far the one (1) year warranty period. Default and Remedies. 4.1 Default. The failure of the Owner or the City to observe or perform any of Page 4 of 9 their respective obligations under this Agreement (the "Defaulting Party"1 within fifteen (1 S) days after receipt of written notice from the other party specifying the nature of the failure (the "Non- Defaulting Party"), shall constitute a default and breach of this Agreement. 4.2 Remedies. The terms and provisions of this Agreement are enforceable with all remedies at law and inequity, including, but not limited to, bringing an action for actual damages, an action for specific performance, an action for temporary restraining orders, preliminary or permanent injunctions, declaratory judgments or other similar orders for relief; provided, however, that suspension or ternZination of this Agreement on account. of a breach shall nat be an available remedy. The parties to this Agreement hereby acknowledge and stipulate the inadequacy of Legal remedies and the irreparable harm that would be caused by a material breach of any obligation under this Agreement by a party to this Agreement. 4.3 Notwithstanding anything to the contrary contained in this Agreement, City is also entitled to withdraw from the Bond before it is released to Developer, an amount equal to all assessments, whether imposed or pending, in favor of the City pursuant to the Temporary Easement (for Abandoned Depot Road} executed by and between City and Developer. S. Notice. Any notice, demand or request which may be permitted, required or desired to be given in connection therevrith shall be given in writing and directed to the City and the Owner as follows: ,4s to City: Mr. David Harden, City Manager City of Delray Beach 200 N. W. I5t Avenue Delray Beach, Florida 33444 With a copy to: R. Brian Shutt, Esq. City Attorney 100 N. W. 1 S` Avenue Delray Beach, Florida 33444 As to Omer: Depot Industrial Center, LLC 2S0 N. W. Diagonal Boca Raton, Florida 33432 With a copy to: Michael Listick, Esq. I90 S. E. S'h Avenue Delray Beach, Florida 33483 Facsimile: (S61) 278-6909 Page S of 9 Notices shall be deemed properly delivered and received when and if either (i) personally delivered; or (ii) one (1) business day after deposits with United Parcel Service or other overnight courier; or (iii) the same day when sent by confirmed facsimile before 5:00 p.m. (Eastern time). 6. Generall'rovisions 6.1 Amendment. This Agreement maybe amended or modified only by a written instrument signed by both parties or their respective successors and assigns, which instrument must be recorded in the Public Records of Palm Beach County, Florida. 6.2 Entire Agreement. This Agreement sets forth the entire agreement between the Owner and the City with respect to the easement granted in this Agreement. This .Agreement supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the parties. 6.3 Governing Law. This Agreement will be interpreted and enforced in accordance with Florida law. 6.4 Successors aJid Assigns. The covenants, conditions and agreements contained in this Agreement will inure to the benefit of and be binding upon the successors and assigns ol'the Owner and the City. 6.5 Authorit~to Execute; Representations. The Owner and the City each warrant and represent to the other that the individuals signing tlus Agreement on behalf of the Owner and the City, respectively, have full power and authority to execute and deliver the Agreement and to bind the respective pal-ties hereto. 6.6 Counterparts. This Agreement may be signed in two or more counterparts, each of which constitutes the Agreement of the parties and each of which shall be treated as an original. 6.7 Breach Shall Not Permit Termination. It is expressly agreed that no breach of this Agreement shall entitle either the Owner or the City to terminate this Agreement, but such limitation shall not affect in any manner any other rights or remedies which either the Owner or the City may have hereunder by reason of any breach of this Agreement. 6.8 Severability. If any term or provision of this Agreement or application thereof to any person or circumstance shall, to any extent, be found by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Agreement, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be atiected thereby and each term or provision of this Agreement shall be valid and enforceable to the fullest extent permitted b}~ Iaw. Page 6 of 9 6.9 Non-Waiver. No waiver of, or failure to assert, any claim, right, benefit or remedy of any party pursuant to this Agreement shall operate as a waiver of any other claim, riglri or benefit. The failure of any party at any time or times to require performance of any provision hereof shall in no manner affect such party's right at a later time to require such performance or to enforce the same fully. No waiver or modification of the terms hereof shall be valid unless in writing and signed by the party to be charged, and then only to the extent therein set forth. 6.10 Headings. The headings ofthe articles ofthis Agreement are for guidance and convenience of reference only and shall not Limit or otherwise affect tiny of the teni~s or provisions of this Agreement. 6.11 Covenant Run111nQ with the Land. This Agreement and the easements granted herein, and all of the rights, duties and obligations of the parties with respect thereto, shall be construed as covenants running with the land, binding and inuring to the benefit of the City or the Owner, as the case may be, their respective successors, assigns and/or grantees. 6.12 By separate joinder in this Agreement, first United Bank has consented and does hereby consent to this Agreement, and the liens and security interests held by Lienholder are hereby made subject and inferior to the terms of this Agreement without the necessity of the execution of any other document. Any future deeds of trust or mortgages shall automatically, without the necessity of any additional instrument, be subject and inferiorto the terms and conditions ofthis Agreement and shall be bound by the teens of this Agreement. Any party foreclosing any such deed. of trust or mortgage, or acquiring title by deed in lieu of foreclosure or trustees sale shall acquire title subject to all the terms and provisions ofthis Agreement. 6.13 Joint Preparation. The preparation ofthis Agreement has been a joint effort of the City and the Owner and the resulting document shall not, solely as a matter of judicial consideration be constructed more severely against one party than the other. 6.14 Attorney's Fees. In connection with any litigation or dispute arising out of this Agreement, each party shall bear its own attorneys' fees and costs. 6.15 Further Assurances. The parties agree to execute all future instruments and take all fitrther action that may be reasonably required by any party to fully effectuate the terms and provisions of this Agreement and the transactions contemplated herein. 6.16 Venue. Any dispute relating to this Agreement shall only be filed in a court of competent jurisdiction in Palm Beach County, Florida, and each of the parties to this Agreement submits itself to the jurisdiction of such court. 7. Governmental Functions. a. Even though the City has certain contractual obligations under this Agreement such obligations shall not relieve any person subject to this Agreement Page 7 of from complying with all applicable governmental regulations, rules, laws, and ordinances. b. To the extent approval or permission must be obtained from the City, such approval or permission shall be granted or denied in accordance with applicable governmental regulations, rules, laws, and ordinances, and no person shall have any vested rights. c. The City has not waived its sovereign immunity and the limits of tort liability set forth in F. S. § 768.28 (5)(2008) of $100,000.00 per person and $200,000.00 per occurrence shall apply; and d. Any action by City shall be without prejudice to, and shall not constitute a limit or impairment or waiver of, or otherwise affect City's right to exercise its discretion in connection with its govemmental or quasi-governmental functions. Termination of Agreement By virtue of the Declaration of Reserved Rights and Agreement Not to Encumber ("Declaration of Reserved Rights") executed by and between the City and Developer, the City may require the reconveyance of Abandoned Depot Road to City. If the reconveyance of Abandoned Depot Road is effective, this Agreement shall terminate and Developer shall not be obligated to complete construction of Relocated Depot Road. The Bond, or any portion thereof, shall be released to Developer if this Agreement is terminated, subject to and Less any amounts or reimbursements from the Bond the City is entitled to pursuant to this Agreement, the Declaration of Reserved Rights and Agreement Not to Encumber, or the Temporary Easement. In addition, if the Site Plan expires before Developer commences any construction of Relocated Depot Road; Developer has the option of terminating this Agreement, provided Developer has effectively reconveyed Abandoned Depot Road to City, as more fully described in the Declaration of Reserved Rights. In the event Developer is entitled to terminate this Agreement and does so, Developer shall not be obligated to commence or complete construction of Relocated Depot Road. Upon termination of this Agreement, the Bond, or any portion thereof, shall be released to Developer. fN WITNESS WHERIJOF, the parties to this Agreement set their hands and seals the day and year first above written ATTF,ST: CITY OF DELRAY BEACH, A FLORIDA MUNICIPAL CORPOItA'TION BY: Approved as to Form: By: Page 8 of 9 Nelson S. ivlcDuffie, Mayor City Attorney STATE OF COUNTY OF The foregoing instrument was acknowledged before me tlus day of , 2011, by Nelson S. McDuffie, the Mayor of the City of Delray Beach, a Florida Municipal Corporation. He/she is personally known to me or has produced (type of identification) as identification. Signature ofPerson'I'aking Acknowledgement WITNESSES: DEPOT INDUSTRIAL CENTER, LLC., Florida Limited Liability Company BY: Thomas Head, Manager STATE OF COUNTY OF The foregoing instrument was acknowledged before me this day of , 2011, by Thomas Head, the Manager of Depot Industrial Center, LLC, a Florida Limited Liability Company, and he/she is personally known to me or has produced (type of identification} as identification. Signature of Person Taking Acknowledgement Page 9 of 9 I/XIiIBITS TO ROAD'~~'AY IMPROVEMENT AGREEMENT Exhibit "A" - Legal description of Relocated Depot Road. Exhibit "B" - Specifications for construction of Relocated Depot Road. 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K X~ `~' t 6 "~ &~~ x~fi sl. eyg ~J} *~{ s~ }~~ ¢w 1 ~ Zi ~ 'TSB' a 'd j Zv 1' j4.` S 3' ., Q ~~ yr, ' ~:. ~z 's nnzt :. :, ,X~//''1 + ' ~ ' Nna 1oaaNDJ NoumlDd ' ~ > ~ ~ '~ ~ !<I n ^_ ..~-off^~ ~'~m°:-u~~w YDIN013 '}(JY3B AYN'13D ~f I ~ of S8I1N3d DXd UY3N ~ S~d~~~d ~ t10d ~w. ~ Icy ago ~; ~~-~ws . ~n~~n~ soa~Q F 4 8 S x ~I ~ a i ~ ~ t a cab ~ ~ " ~ i I~ {lil+' ~ ~' O~I 1, ~ ~ ~~ i ~ ~I ~~ ~ i i -e ~~~,~~ ~ `~ --~~ n ,` f ~ , j `~~ <fi 1~~ 1 ll t F ~'~ ~^ ~J~~~ $~ ~ '1 &~ ~ ~ ,i S~ I ~ u t ~ ~Z EX111b1t"7~~ Temporary ~asemer~t Prepared by and return to: Steven D. Rubin, Esq. 980 North Federal Highway, Suite 434 Boca Raton, Florida 33432 TEMPORARY EASEMENT (Abandoned Depot Road) THIS EASEMENT AGREEMENT (this "Agreement") made this ____ day of 2011, amongthe CITY OF DELI2AYBEACH, a Florida Muntcipa[ Corporation, (the "City"}, with a mailing address of 100 N.W. lst Avenue, Delray Beach, Florida 33444, a municipal corporation in Palm Beach County, State of Florida, and Depot Industrial Center, LLC, a Florida Limited Liability Company (hereinafter referred to as the "Owner"} with a mailing address of 2S0 N. W. Diagonal, Boca Raton, Florida 33432. RECITALS: A. Pursuant to that Agreement to Exchange Real Property between the City and Owner (the "Exchange Agreement''}, the City has agreed to vacate and abandon a certain roadway, located in Delray Beach, Florida, legally described as follows {the "Abandoned Roadway"): See Exhibit "A" attached hereto and made a part hereof. B. As a result of the abandonment by the City, the Owrter became the owner and holder of fee simple title of and to the Abandoned Roadway and the Owner owns fee simple title in and to the property constituting the Abandoned Roadway. C. The Owner desires to grant to the City: (i) an exclusive roadway easement for vehicular and pedestrian traffic for ingress and egress, and over, upon, under, and across the Abandoned Roadway and for the City to exercise its governmental and quasi-governmental functions with respect to the Abandoned Roadway, including without limitation, traff c regulation, and other uses and purposes as may be permitted by the City's Code of Ordinances or by resolutions adopted by the City Commission with respect to public rights of ways located within the City and for all purposes for which the City has all power under home rule authority, including but not limited to those expressed in Florida Statutes or City Ordinances, and this Agreement shall not in any way limit those powers including but not limited to access, ingress and egress, maintenance, control, closing, or other use of the Abandoned Roadway by members of the public, and City officers, agents, employees or contractors. and (ii) an exclusive utility easement over and under the Abandoned Roadway, for those utilities which are presently in place. D. In connection with the City approving the abandonment of the Abandoned Roadway, and pursuant to the terns and conditions of that certain Agreement for Completion of Roadway Page 1 of 10 Improvements and Guarantee between the Owner and the City (the "Roadway Improvement Agreement"},the Owner has agreed to construct a relocated Depot Road {"Relocated Depot Road"), including the installation of improvements located thereon, including, without timitatian, streetlights, pedestrian and vehicular traffic lights, signs and markings, sidewalks, planters, trees landscaping and other related appurtenances as shown on Phase I of the approved Site Plan ("Site Plan") as it relates to Relocated Depot Road, and the drawings of Smiley & Associates, Inc, to the extent such drawings do not conflict with the Site Plan or the City's Land Development Regulations. Relocated Depot Road is legally described as follows: See Exhibit "B" attached hereto and made a part hereof. E. Owner may construct improvements in the Historic Depot Property ("Project") pursuant to the Site Plan approved by the City of Delray Beach only after Relocated Depot Road Constriction has been completed. F. This Agreement shall remain in full force and effect until Relocated Depot Road is constructed as set forth herein, unless ternlinated sooner as provided herein. NOW, THEREFORE, in consideration ofthe mutual covenants and promises contained herein and other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the City and the Owner agree as follows: 1. Recitals. The foregoing Recitals are true and correct and are incorporated herein by this reference, as if set forth in their entirety. 2. Grant of Easement. Owner, as grantor, hereby grants and conveys to City, its successors and assigns and the general public, grantees (collectively hereinafter referred to as the "City"), and continuing until termination as described below, an exclusive easement for the use and benefit of City ("Roadway Easement"} over, upon, under, and across the Abandoned Roadway for the following purposes: a. The unobstructed and unimpeded exclusive use for pedestrian and vehicular parking and traffic, including sidewalks, access, ingress and egress, as a through roadway, and for the proper installation, maintenance, repair and replacement of a paved roadway and its subsurface components; b. For any public purpose permitted by the City's Code of Ordinances which relate to or concern the use or regulation of public rights of way Located within the City; c. Far any public purpose approved by the City Commission which the City Commission could approve with respect to public rights of way located within the City in the exercise of its governmental and quasi-governmental functions; and Page 2 of I O d. For all purposes for which the City has all power under Home Rule Authority, including but not limited to those expressed in Florida Statutes or City Ordinances, and this Easement Agreement shall not in any way limit those powers including but not Limited to access, ingress and egress, maintenance, control, closing, or other use of the Abandoned Roadway by members of the public, and City officers, agents, employees or contractors. 2.1 City hereby shall and does accept sole responsibility for the maintenance, repair and replacement of the Roadway Easement and all related improvements, including without limitation, sewers, drainage, landscaping, traff c control devices, street lights, median requirements, striping, sidewalks, paving, and curbing, in good condition and repair, and in compliance with all applicable govermmental rules, laws, regulations and ordinances as they pertain to public rights of ways. 2.2 Owner may not make airy alterations to the roadway design,l ocation or improvements thereon, perform any construction on the Roadway Easement whatsoever, load or unload any construction equipment or vehicles on the Roadway Easement, or traverse the Roadway Easement with any construction equipment or vehicles. 2.3 City shall have the exclusive right to use the Roadway Easement on a seven (7) day per week, twenty-four (24) hour per day basis. No fee or other expense shall be charged by Owner to the City for use of the Roadway Easement. 2.4 Owner shall not be allowed to tow or otherwise relocate vehicles which use the P~oadway Easement. 2.5 No obstruction of the free flow of pedestrian and vehicular traffic or use of the Roadway Easement for parking shall be permitted or caused by Owner. 2.6 Owner shall pay or cause to be paid before delinquency all ad valorem real property taxes, general and special assessments and other governmental charges assessed against the fee simple interest of the Abandoned Roadway, and provide evidence of the same to City. If those amounts are not timely paid by Owner, City clay (but shall not be obligated to) pay all or part of those amounts and Owner shall immediately reimburse City those amounts upon demand, together with interest at the rate of eighteen percent (18.0%) per annum on the amounts so paid by City, from the date of advance until reimbursed. City shall also have a lien to secure repayment of taxes paid and the manner of filing a lien, its priority, and its enforcement shall be the same as set forth in paragraph (2.8} of this Agreement. This Agreement is intended as an easement with the meaning of F. S. Section 197.572. 2.7 City is hereby granted an exclusive easement ("Utility Easement"} through, over, upon, on, in, across and under the Roadway Easement for utility conduits, ducts, plumbing and wiring and other facilities reasonably necessary for the use and enjoyment of the Roadway Easement, and presently existing municipal utilities including without limitation, maintenance, repair and replacement of the Roadway Easement and traffic control devices, and the City is hereby granted an exclusive easement of support and necessity for the roadway and related improvements. Page 3 of 10 2.8 In the event Owner causes damage or destruction to the Roadway F,asernent or any improvements thereon in connection with the construction of the Project or as a result of the negligence or misuse of the retained servient estate rights of the Owner, then the Owner, at its sole cost and expense shall, as expeditiously as possible afterbecoming aware of such damage, shall repair and restore the Abandoned Roadv~~ay and/or the damaged utilities installed by the City in tl~e Utility Easement to the condition same were in immediately prior to such damage. Any restoration and repair work undertaken shall be performed in accordance with alI applicable laws by licensed contractors and in a good, non-negligent, and workmanlike and lien-free mazLner. Should Owner fail to promptly restore the Roadway Easement or utilities thereunder, or any improvements located thereon, and as a consequence, City's easement rights created by this Agreement become impaired or City is unable to utilize the Roadway Easement or Utility Easement as intended by this Agreement, in addition to any remedy City may have, City, after not less than thirty (30) days prior written notice to Owner to cure the default, (except no notice shall be required in the event of an emergency), may, but it is not obligated to, enter onto any portion of the Roadway Easement to perform all necessary construction, repair, maintenance, replacement and operating work ("Work"), and may use City personnel to perform the Work, and may assess Owner for the cost of the Work. Owner shat l pay the cost of said work within thirty (30) days after assessment by City. The assessment; plus interest thereon at eighteen percent {18%) per annum, may, at the option of the City, be paid from the Bond which the Owner furnishes to the City pursuant to the Road~~ay Improvement Agreement. Alternatively, the assessment, plus interest thereon at eighteen percent (18.0%) per annum, shall be lien against the fee simple interest of Owner in the Abandoned Roadway. The lien shall attach to the Owner's fee simple interest in the Abandoned Roadway, and shall be effective upon recording of a notice thereof in the Public Records of Palm Beach County, Florida, but its priority shad relate back to the date on which this Agreement is recorded. The lien shall be substantially in the form of a construction claim of lien described in Chapter 713 of the Florida Statutes. The lien rights granted herein will not affect the easements and other rights granted herein to the City, and such rights shall continue in full force and effect. Such lien may be foreclosed in the same manner as a mortgage and in accordance with law. Reimbursement of such Work costs and interest shall also be the personal obligation of Owner at the time the costs are incurred, and may be collected by the City accordingly. 2.9 The Roadway Easement and Utility Easement are easements appurtenant to the City's public right-of--ways and is intended to benefit such properties and shall run in favor of the City, and shall be binding upon Owner and its successors and assigns with Owner holding the servient estate. 2. I 0 All Work performed by Owner in the Roadway Easement and Utility Easement shall be performed only by properly licensed contractors and in compliance with all applicable building codes and zoning ordinances. Every contractor performing the Work shall be reasonably insured and without cost to City, insured for any claim arising out of the Work, and that City will be indemnified and held harmless for any claims that may arise out of tlae Work. Ow~zer shall comply with F. S. § 255.05 and F. S. § 287.133, if applicable. 2.11 Owner warrants that it is seized of the Abandoned Road«~ay and has the right to convey the Roadway Easement and LtiIity Easement to the City; free and clear of all superior liens Page 4 of 10 and encumbrances, that City shall have quiet enjoyment of the Roadway Easement and Utility Easement ,and Owner does hereby fully wan•ant the title to said land and will defend the same against the lawful claims of all persons whomsoever. 2.12 Owner agrees that the City shall have jurisdiction over the Roadway Easement to enforce all applicable traffic regulations and Owner shall, if requested by the City, execute the City's Standard Traffic Enforcement Agreement, the form and content of which shall be reasonably satisfactory to the City's Counsel. 2.13 Notwithstanding anything to the contrary contained in this Agreement, the Developer, and its authorized agents, representatives and employees, shall be deemed to be members of the "public" and may use the Easement created herein as any other member of the public can. City's Maintenance Obligation 3.1 City, at its expense shall maintain the Roadway and utilities located on and under the Roadway Easement except as otherwise stated in paragraph 2.8 of this Agreement. 4. Si >na e. The City, at its sole cost and expense, may install, maintain and operate signage on the Roadway Easement, in such locations and in such capacities as the City may approve in the City's exercise of its governmental or quasi-governmental functions. Default and Remedies. S.1 Default. The failure of the Owner or the City to observe or perform any of their respective obligations under this Agreement (the "Defaulting Party") within thirty (30} days after receipt of written notice from the other party specifying the nature of the failure (the "Non-Defaulting Party"), shall constitute a default and breach of this Agreement. S.2 Remedies. The terms and provisions of this Agreement are enforceable with alI remedies at law and in equity, including, but not limited to, bringing an action for actual damages, an action for specific performance, an action far temporary restraining orders, preliminary or permanent injunctions, declaratory judgments or other similar orders for relief; provided, however, that suspension or termination of this Agreement on account of a breach shall not be. an available remedy. The parties to this Agreement hereby acknowledge and stipulate the inadequacy of legal remedies and the irreparable harm that would be caused by a material breach of any obligation under this Agreement by a party to this Agreement. 6. l~Totice. Any notice, demand or request which may be permitted, required or desired to be given in connection therewith shall be given in ~~7iting and directed to the City and the Owner as follows: As to City: Mr. David Harden, City Manager City of Delray Beach Page S of 10 204 N. W. 151 Avenue Delray Beach., Florida 33444 Witli a copy to: R. Briaci Shutt, Esq. City Attorney 100 N. W. 151 Avenue Delray Beach, Florida 33444 As to Developer: Depot Industrial Center, LLC 250 N. W. Diagonal Boca Raton, Florida 33432 With a copy to: Michael Listick, Esq. 190 N. E. 4`h Avenue Delray Beach; Florida 33483 Facsimile: (561) 278-6909 Notices shall be deemed properly delivered and received ~~~hen and if either (i) personally delivered; or (ii) one (1) business day after deposits with United Parcel Service or other overnight courier; or (iii) the same day when sent by confirmed facsimile before 5:00 p.m. (Eastern time). 7. General Provisions. 7.1 Amendment. This Agreement maybe amended or modified only by a written instrument signed by both parties or their respective successors and assigns, which instrument must be recorded in the Public Records of Palm Beach County, Florida. Page 6 of 10 7.2 Entire Agreement. This Agreement sets forth the entire agreement between the Owner and the City with respect to the easement granted in this Agreement. This Agreement supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the parties. 7.3 Governinb Law. This Agreement wilt be interpreted and enforced in accordance with Florida law. 7.4 Successors and Assigns. The covenants, conditions and agreements contained in this Agreement will inure to the benefit of and be binding upon the successors and assigns of the Owner and the City. 7.5 Authority to Execute' Representations. The Owner and the City each war-ant and represent to the other that the individuals signing this Agreement on behalf of the Owner and the City, respectively, have full power and authority to execute and deliver the Agreement and to bind the respective parties hereto. 7.6 Counterparts. This Agreement may be sigmed in two or more counterparts, each of which constitutes the Agreement of the parties and each of which shall be treated as an original. 7.7 Breach Shall Not Permit Termination. It is expressly agreed that no breach of this Agreement shall entitle either the Owner or the City to terminate this Agreement, but such limitation shall not affect in any manner any other rights or remedies which either the Owner or the City may have hereunder by reason of any breach of this Agreement. 7.8 Severability. If any term or provision of this Agreement or application thereof to any person or circumstance shall, to any extent, be found by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Agreement, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term or provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 7.9 Non-Waiver. No waiver of, or failure to assert, any claim, right, benefit or remedy of any parry pursuant to this Agreement shall operate as a waiver of any other claim, riglZt or benefit. The failure of any party at any time or times to require performance of any provision hereof shall in no manner affect such party's right at a later time to require such performance or to enforce the same fully. No «~aiver or modification of the terms hereof shall be valid unless in writing and signed by the party to be charged, and then only to the extent therein set forth. 7.10 Headings. The headings of the articles of this Agreement are for guidance and convenience of reference only and shall not limit or othei-~~vise affect any of the terms or provisions of this Agreement. Page 7 of 10 7.11 Covenant Running with the Land. This Agreement and the easements granted herein, and all of the rights, duties and obligations of the parties with respect thereto, shall be construed as covenants running with the land, binding and inuring to the benef t of the City or the Owner, as the case may be, their respective successors, assigns and/or grantees. 7.12 By separate joinder in this Agreement, First United Bank, the holder of a lien on the Abandoned Roadway, has consented and does hereby consent to this Agreement, and the liens and security interests held by Lienholder are hereby made subject and inferior to the terms of this Agreement without the necessity of the execution of any other document. Any future deeds of trust or mortgages shall automatically, without the necessity of any additional instrument, be subject and inferior to the terms and conditions of this Agreement and shall be bound by the ternls of this Agreement. Any party foreclosing any such deed of trust or mortgage, or acquiring title by deed in lieu of foreclosure or trustees sale shall acquire title subject to all the terms and provisions of this Agreement. 7.13 Joint Preparation. The preparation of this Agreement has been a joint effort of the City and the Owner and the resulting document shall not, solely as a matter of judicial consideration be constructed more severely against one party than the other. 7.14 Attorney's Fees. In connection with any litigation or dispute arising out of this Agreement, each party shall bear its own attorneys' fees and costs. 7.15 Further Assurances. The parties agree to execute all future instruments and take all further action that may be reasonably required by any party to fully effectuate the terms and provisions of this Agreement and the transactions contemplated herein. 7.16 Venue. Any dispute relating to this Agreement shall only be filed in a court of competent jurisdiction in Palm Beach County, Florida, and each of the parties to this Agreement submits itself to the jurisdiction of such court. 7.17 Hazardous Substances. Neither Owner nor City shall cause or permit at any time during the teams of this Agreement, any hazardous substances to be disposed of or otherwise released on, to, or under the Roadway Easement. Neither Owner nor City shall engage in operations over, upon or under the Roadway Easement that involve the generation, manufacture, refining, transportation, treatment, handling or disposal of "Hazardous Substances" or "hazardous wastes" as such terms are defined under any environmental laws. Owner acknowledges, however, that the Roadway Easement will be utilized for parking and driving vehicles which may leak oil, gasoline, or other fluids onto the ground, and City shall not be responsible for removal of such waste or have any liability for it under this Agreement. 8. Governmental Functions. a. Even though the City has certain contractual obligations under this Agreement such obligations shall not relieve any person subject to this Agreement from complying with all applicable governmental regulations, rules, laws, and ordinances. Page 8 of 10 b. To the extent approval or permission must be obtained from the City, such approval or permission shall be granted or denied in accordance with applicable governmental regulations, rules, laws, and ordinances, and no person shall have any vested rights. c. The City has not waived its sovereign immunity and the limits oftort liability set forth in F. S. ~ 768.28 (5)(2008) of $100,000.00 per person and $200,000.00 per occurrence shall apply; and d. Any action by City shall be without prejudice to, and shall not constitute a limit or impairment or waiver of, or otherwise affect City's right. to exercise its discretion in connection with its governmental or quasi-governmental functions. Termination. 9.1 This Agreement shall terminate at such time as the engineer from the City (the "City Engineer"} executes and delivers to the City and the Owner a completion certificate ("Completion Certificate"). The City Engineer shall execute the Completion Certificate at such time as Relocated Depot Road has been timely and completely constructed by O«~ner or if not timely completed by Owner and if City elects to complete construction, when construction is completed by City, and City is fully reimbursed for the construction costs, all in accordance with the terms and conditions of the Roadway Improvement Agreement, and upon acceptance by the City of Relocated Depot Road as shown on the Plat of Historic Depot Square as a fully operational perpetually dedicated City right of way. Any disputes regarding the construction of Relocated Depot Road shall be governed by the terms and conditions of the Roadway Improvement Agreement. 9.2 This Agreement may also tenminate as provided in that certain Declaration of Reserved Rights and Agreement Not to Encumber executed by and between City and Owner. 9.3 Upon termination of this Agreement if the Owner requests, the City shall execute a fiirther document evidencing the termination of this Agreement to be recorded in the Public Records of Palm Beach County, Florida. Notwithstanding anything to the contrary contained in this Section, the termination of this Agreement shall not constitute the release or satisfaction of any claim that arose prior to termination, and such claim shall survive termination of this Agreement. Upon reasonable request of either party, the other party shall furnish a v~~ritten estoppel certified statement specifying therein whether any claims exist of the date of the estoppel certificate. These estoppel ce[liticates shall be in recordable form. IN WITNESS WHEREOF, the parties to this Agreement set their hands and seals the day and year first above written ATTEST: CITY OF DELRAY BEACH, A FLORIDA iVIUNICIPAL CORPORATION Page 9 of 10 BZ': Approved as to Fonn: City Attorney STATE OF FLORIDA COUNTY OF PALM BEACH Bv: Nelson S. 1\-4cDuffie, Mayor The foregoing instrument was acknowledged before me this day of , 2011, by Nelson S. McDuff e, the Mayor of the City of Delray Beach, a Florida Municipal Corporation. He/She is personally known to me or has produced (type of identification) as identification. Signature of Person Taking Acknolwedgement WITNF,SSES: DEPOT INDUSTRIAL CENTER, LLC., Florida Limi#ed Liability Company BY: Thomas Head, Manager STATE OF FLORIDA COUNTY OF The foregoing instrument was acknowledged before me this day of , 2011, by Thomas Head, the Manager of Depot Industrial Center, LLC, a Florida Limited Liability Company, He/She is personally known to me or has produced (type of identification) as identification. Signature ofPerson Taking Acknolwedgement Page 10 of 10 EXHIBITS TO 'TEMPORARY EASEMENT (.Abandoned Depot Road) Exhibit "A" - Legal description of l-lbandoned Depot Road. Exhibit "B" - Legal description of Relocated Depot Road. LEGAL DESCRIPTION OF RIGHT OF WAY THAT CITY IS CONVEYING TO DEVELOPEP,: DEPOT ROAD RIGHT OF WAY A PARCEL OF LAND LYING IN SECTION 18, TOVJNSHIP 46 SOUTH, RANGE 43 EAST, CITY OF DELRAY BEACH, PALM BEACH COUNTY, FLORIDA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS rr"OLLOWS: COMMENCE AT THE NE CORNER OF SAID SECTION 18; THENCE N 89°09'2i" W, ALONG THE NORTH LINE OF SAID SECTION 18, A DISTANCE OF 251.13 FEET; THENCE S 14°28'43" W, ALONG THE EAST RIGHT OF WAY LINE OF THE CSX RAILROAD, A DISTANCE OF 143.88 FEET TO A POINT ON A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 600.00 FEET AND A DELTA ANGLE OF 1 1 °49'20"; RADIAL BEARING THROUGH SAID POINT BEARS N 00°33'26" W; THENCE EASTERLY, AN ARC DISTANCE OF 123.80 FEET TO A POINT ON A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 215,00 FEET AND A DELTA ANGLE OF 27°36'45", RADIAL BEARING THROUGH SAID POINT BEARS S 65°39'04" E; THENCE SOUTHERLY ALONG SAID CURVE AN ARC LENGTH OF 103.74 FEET TO THE POINT OF BEGINNING, SAID POINT HAVING A RADIAL BEARING OF N 86°42'29" E AND BEING A POINT OF COMPOUND CURVATURE, HAVING A RADIUS OF 215.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE, CONCAVE EASTERLY AND HAVING A DELTA ANGLE OF 01°11'48", AN ARC DISTANCE OF 4.49 FEET TO A, POINT OF TANGENCY; THENCE S 04°29'19" E, A DISTANCE OF 982.51 FEET, THENCE S 31°05'49" W A DISTANCE OF 160.88 FEET TO A POINT ON THE NORTH RIGHT OF WAY LINE OF N.W. 2ND STREET; THENCE S 89°56'26" E A DISTANCE OF 204.24 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE Or' INTERSTATE !-95 AS RECORDED IN OFFICIAL RECORDS 2187, PAGE 1256; SAID POINT BEING ON A CURVE CONCAVE WESTERLY, HAVING A RADIUS OF 1063.92 FEET, WHOSE RADIUS BEARS N B5°23'36" W; THENCE NORTHERLY ALONG SAID CURVE HAVING A DELTA ANGLE OF 8°39'43" AN ARC LENGTH OF 160.85 FEET; TO A POINT OF TANGENCY; THENCE N 04°03'20" W ALONG SAID WEST RIGHT OF WAY LINE OF i-95, A DISTANCE OF 506.19 FEET; THENCE N OS°04'42" W ALONG SAID WEST RIGHT OF WAY LINE OF I-95 A DISTANCE OF 94.11 FEET TO A POINT ON A CURVE; SAfO CURVE CONCAVE EASTERLY HAVWG A RADIUS OF 3969.72 FEET; THENCE NORTHERLY ALONG SAID CURVE (BEING ON THE WEST RIGHT OF WAY LINE OF i-95) HAVING A DELTA ANGLE OF 5°31'47" AN ARC DISTANCE OF 383.13 FEET TO A POINT ON A, CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 73.00 FEET WHOSE RADIUS BEARS N 61°39'17" W, THENCE WESTERLY ALONG SAID CURVE, HAVING A, DELTA ANGLE OF 105°17'12", AN ARC DISTANCE OF 134.14 FEET TO THE P01NT OF BEGINNING. TOGETHER WITH: NW 2ND STREET RIGHT OF WAY A PORTION OF MACK INDUSTRIES-DELRAY, AS RECORDED IN PLAT BOOK 43 PAGE 138 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINING AT THE NE CORNER OF SAID MACK INDUSTRIES-DELRAY PLAT (P.O.B.), THENCE N 89°56'26" W, A DISTANCE OF 149.78 FEET TO A PO{NT OF CURVATURE; SAID CURVE CONCAVE SOUTHEASTERLY, HAVING A RADIUS OF 25.00 FEET AND A DELTA ANGLE OF 90°52'11", THENCE SOUTHWESTERLY ALONG SAID CURVE, AN ARC DISTANCE OF 39.65 FEET; THENCE N 00°48'37" W, A DISTANCE OF 10.00 FEET; TO A POINT OF CURVATURE CONCAVE SOUTHEASTERLY, HAVING A RADIUS OF 25 FEET AND A DELTA ANGLE OF 90'52' 11 "; THENCE NORTHEASTERLY A! ONG SAID CURVE FOR AN ARC DISTANCE OF 39.65 FEET TO A POINT OF TANGENCY; THENCE S 89°56'26" E, A DISTANCE OF 149.78 FEET; THENCE 5 00°48'37" E, A DISTANCE OF 1 G.00 FEET TO THE POINT OF BEGINNING; CONTAINING 1,752 SOUAP,E FEET, MORE DESCRiP TiON OF ABANDONMEN T CERTIFICATION: SCALE: 1" = 80' FOUNDED 1993 TH!S SKETCH MEE75 MINIMUM TECHNICAL STANDARDS AS SET FORTH BY THE FLORIDA BASELINE >~ ENGINEERING BDARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN CHAPTER 61G17-6, FLORIDA ORAIy?J BY.• D.J.M. ADMINISTRATIVE C 0 -PUR$ : ~Q SECTION 472.027, FLORIDA STATUTES. AND ~' ,, CHECKED BY l/,. J. A. LAND SUR KEYING, INC. ./ - L ~~t ~ -~ r ERNcST N! DUNCAh: PSM, State of F/aridrpate 1400 N, W. 1St COUNT Pro>`essional Survewr & Mapper No. 5187 BOCA RA TON, FLORIDA 3.3432 rHfS URA WING, SKETCH, PLAT, OR MAP t5 FOR INFORMATION PUP,POSES ONLY AND iS EB 6510 (561) 417-0700 LB 6439 N07 VALID, UNLESS tT BEAP,S 7Hf SIGIJATURE AIJD THE ORIGINAL RAISED SEAL OF A ~~d' `/.~.' C~ -r~5-01.3 S.%~Et T NO 1 Oi 3 n Warne ~ rrrnrern erravevna enrn ueaaea 0 " NW 2ND STREET .- ~h' O ~ S89'56'26'E ' g' ~ ~ q 1 7 2, fi o~ U ~ ~' 1 752+/- SQUA2E FEET il a , ; o a q`~~,2~g' a 149.78' ~ m p ~ ~'' o r` p Q J ~ `- ~ II a" `n S RAW m o o ~ q 1 r -. NW 2nd STREET ~ .. Z O }-- U ~' Z I ~~.~ N ~ O ~ AM) 1 Q W -" Q ' I w Q ~ w' z ~ (~ ~ U ~ W ~ ~ ~ c n ~ o ~ ~ ~ ~ ° ~ r~ 1 ~ ~ ~ Q 0 m z m i ~ ~ ~ U Q ~ I f SKETCH OR RlGNT OF WAY ABANDONMENT CERTIFICATION: SCALE: 1 " = 80' FOUNDED 199,3 7NlS SKETCH MEETS MINIMUM TEGHNICAL STANDARDS AS SET FORTH BY THE FLORIDA 8OARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN CHAPTER 61G17-6, FLORIDA DRAWN BY' D.J.M. BASELINE ~ ENGINEERING AOMINISTRAP~ C~O .PURSUAN SECT)ON 472.027, FLORIDA STATUTES. ~ ! ~ ~ - ~ ~~____~~ ~ .~ ~ i ~`=-~', CHc CKED BY ~t! J.A. AND LAND SURI/EY/NG; lNG _ ~ ~ z-~.... 1400 N I'1! 1st COURT ERNEST W. DUNCAh! PSM. Stole of Floridrl~ote Professionoi Surveyor & Mapper No. 5122 BOCA R/A_TON, FL_ORiDA 3,3432 THIS DP,AVNNC, SKETCH, PLAT, Ok MAP IS FOk INFORMATION PURPOSES ONLY AND 15 ~Ey 6,_S,1Q 1,7E1) 41i-0700 LB 6438 NOT VALID, UNLESS !7 BEARS THE SIGNATiIRE AND THE ORIGINAL RAISED SEAL Of A ,/Op NO : 05-05-01,3 SHEET NO 2 Of 3 FLORIDA UCENSED SURVEYOR AND MAPPER. . '' a' NORTH UNE SECTIDN 18 ~ N89'09'21"W 25i.~ o~ ` J 2 ~ ~U ~ S ,~`bi R=600.00' _ ES`TS~ ~ A=123.80' `1 g '~ a~8 N6J~R9D~ t-. ~ c.~ ~ 9' w ,~ ~~a •' ''k m N8542'29"E ' z A=134.14 (RADIALS ' w ~ R= .00 POINT OF BEGIt4NING n=11151712' U PARENT TRACT o m _~ V) °'r '~ ~ r d J N O ~ tl ~ C] i M 6 r (/^^~\ NN4 ' 1W ~a ^ W O ~ '~ UQ ~ w ~" N~ O O G] W Q O ~o rn O 8 " ~ ~ oai ~ ~ m Z O ~ 4A Q ~ o ~ o NORTHEAST CORNER SECTION 1E, TOWNSHIP 4E5, RANGE 43E V a ; I N t t0 ~~ t z >n N 3 ~ ~ ~ Q 6a- O ~ ~_ N S ~` m G ~ 2> 0 0 . b~ o`' N85'23' ~~ RA (RADIAL) ~;°~ N W<~ M tgDM ~ II O II ¢pQ a NORTH RIGHT OF WAY UNE N.W. 2nd STREET SKETCH OF DEPOT ROAD AB~NDOIVMENT C~ RTIF1CfiTI0N: ~ FDUI/DED 1993 SCALE: 1 ' = Sa' BASELINE ~ ENGINEERING TH15 SKETCH MEETS MINfMUM TECHNICAL STANDARDS AS SET FORTH 8Y THE FLORIDA p ~~~I~ BOARC OF PROFESSIONAL SURU<YORS AND MAPPEP.S !IJ CHAPTER 67G17-E, FLORIDA Di"IAIf/V BY.~ D.J.M. ADMINISTRATIVE CODE„P RSUANT SECTION 472.027, F~oRIDA sTAruTES. C,yECKtD BY.' M./.A. AND ~~ r ~~~ ` ; ~ , ~ ,~ I / LAND SUR KEYING, INC. ERNEST W. pUNCAN PSM. Stofe of Floridopote ^1400 N w 1$l GOURT Protessionai Surveyor &• Mopper No. 5182 BOLA RA TON, FLORIDA 33432 THIS DRAWING, SKETCH, PLAT; OR MAP /S FOR INFORMATION PURPOSES ONLY AND !S E[~ pSi(/ (561) 41i-0700 LB 64.39 ~ NOT VALJD, UNLESS !T BEARS THE SIGNATURE AND THE ORIGINAL RAISED SEAL OF A _ --.._-- -.._. _.._......., ....,,,_., J0B NO.: 05-0,5-013 SHBET ND. 3 of 3 Exhibit B Legal description of Relocated Depot Road. Exhibit "8" Reserved Rights Declaration DECLARATION OF RESERVED RIGHTS AND AGREEMENT NOT TO ENCUMBER (Abandoned Depot P~oad} This Declaration of Reserved Rights and Agreement Not to Encumber Abandoned Depot Road, (this ``Agreement'') is entered into this day of , 2011 {the "Effective Date"), between the CITY OF DELRAY BEACH, a Florida Municipal Corporation, (the "City") anei DEPOT INDUS"TRIAL CENTER, LLC, a Florida Limited Liability Company, (the "Developer") for the purpose of setting forth the Developer's contingent obligation to reconvey Abandoned Depot Road which the City abandoned and quitclaimed to accommodate the Developer's project in Delray Beach, Florida on lands designated as Historic Depot Square. RECITALS: A. The Developer intends to construct and develop a project (the "Project") on that certain real property described as follows (the "Historic Depot Square"): See Exhibit "A" attached hereto and made a part hereof B. Pursuant to that certain Resolution (the "Abandomnent Resolution''), the City, at the Developer's request, vacated and abandoned and quitclaimed all right, title and interest the City held in and to that certain roadway more particularly described as follows ("Abandoned Depot Road''}: See Exhibit "B" attached hereto and made a part hereof The Abandonment Resolution is recorded in Off cial Record Book ,Page , of the Public Records of Palm Beach County, Florida. C. As a result of the approval by the City ofthe Abandonment Resolution, Developer has become the owner and holder of fee simple title of Abandoned Depot Road. Pursuant to that certain Temporary Easement Agreement to be recorded in the Public Records of I?alm Beach County, Florida (the "Temporary Easement Agreement"), the Developer has agreed to grant the City an exclusive temporary roadway and utility easement over, upon, under and across Abandoned Depot Road(the "Abandoned Depot Road Easement"): D- In connection with the development of the Project, the Developer has agreed to construct a relocated Depot Road ("Relocated Depot Road")including the installation of improvements located thereon, including, without limitation, streetlights, pedestrian and vehicular traffic lights, signs and markings, sidewalks, planters, trees, landscaping and other related appurtenances, as specified in the Phase I Site Plan ("Site Plan") approved for the Project and the drawings of Smiley & Associates, Inc., to the extent such drawings do not conflict with the Site Plan or the City's Land Development Regulations. Relocated Depot Road shall be constructed within Page 1 of 11 I-Iistoric Depot Square and in those certain East-West roadway extensions lying outside the Plat of Historic Depot Square, and is legally described as follows: See Exhibit "C" attached hereto and made a part hereof. E. The Abandoned Depot Road Agreement provides, in pa1-t, that the Abandoned Depot Road Easement shall terminate and be of no further force and effect upon recordation of the "Completion Certificate" as defined in the Agreement for Completion of Roadway Improvements and Guarantee ("Roadway Improvement Agreement") evidencing that construction of Relocated Depot Road has been completed. F. If City is entitled to and exercises its right of reconveyance of Abandoned Depot Road, and it is reconveyed to City in accordance with the terms of this Agreement, City shall abandon and vacate that portion of Relocated Depot Road identified as Tract RW on the Plat of Historic Depot Square ("Tract RW"). G. This Agreement sets forth the obligation of Developer to reconvey Abandoned Depot Road to the City and the City's obligation to abandon and vacate Tract RW in the event either the City or the Developer exercises its respective right of reconveyance or right of termination, and Abandoned Depot Road is reconveyed to the City as set forth herein. NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and the Developer hereby agree as follows: 1. Recitals. The foregoing Recitals are true and correct and are incorporated herein by this reference, as if set forth in their entirety. City's Reserved Rights. 2.1 Pursuant to the Roadway Improvement Agreement, Developer is obligated to complete construction of Relocated Depot Road within forty-eight (4$) months after the closing date of the Agreement for Exchange of Real Property by and between City and Developer. In addition, if the approved Site Plan expires before any permits are issued by the City with respect to the Project, the City, at the option of the City, may require the developer to reconvey Abandoned Depot Road to the City. In the event Developer fails to timely complete construction of Relocated Depot Road, the City, at the option of the City, may require the Developer to reconvey Abandoned Depot Road to the City. The Developer's obligation to reconvey Abandoned Depot Road to the City is hereinafter referred to as the "City's Reconveyance Right". 2.2 The City may exercise City's Reconveyance Right if the approved Site Plan expires before any permits aze issued by City with respect to the Project; or if construction of Relocated Depot Road has commenced but the Developer has not timely completed construction of Relocated Depot Page 2 of 11 Road, and City has not elected to complete construction of Relocated Depot Road itself pursuant to the Roadway Improvement Agreement. 2.3 To exercise City's Reconveyance Right ,City shall notify Escrow Agent (as identified in paragraph (3) of this Agreement) and Developer of such exercise within one hundred twenty (120) days after City is entitled to exercise City's Reconveyance Right. 2.4 If City exercises City's Reconveyance Right, Developer shall reconvey Abandoned Depat Road to City, free and clear of all encumbrances, liens and taxes, and title shall be good, insurable and marketable, subject only to the matters described in Exhibit "D" which is attached hereta("Permitted Exceptions"). Evidence ofDeveloper's compliance ornancompliance with the title requirements of this Agreement shall be by the issuance of a title insurance commitment and owners' marketability title insurance policy by a Florida licensed title underwriter selected by Developer, or by the opinion of a Florida Bar Board Certified Real Estate Attorney selected by the City. 2.5 Within thirty (30) days after City is no longer entitled to exercise City's Reconveyance Right, provided City has not in fact exercised it, City shall record a certificate evidencing the termination of this Declaration and City's Reconveyance Right. 2.6 If City is entitled to and exercises City's Reconveyance Right, within ninety (90) days after Abandoned Depot Road is reconveyed to City in accordance with the terms of this Agreement (i.e. City has acquired good, marketable and insurable title to Abandoned Depot Road, subject only to the Permitted Exceptions), City shall vacate and abandon "Tract RW. In addition, Ciry may terminate the Temporary Easement Agreement without thereby releasing any Develaper financial liability thereunder which has accrued prior to termination. Developer's Reserved Rights 3.1 If the approved Site Plan expires before any permits are issued by the City with respect to the Project, then Developer has the option of terminating its obligation to commence and complete construction of Relocated Depot Road, provided Develaper reeonveys Abandoned Depot Road to City. The Developer's option to terminate its obligation to commence and complete construction of Relocated Depot Road, provided it reconveys Abandoned Depot Road to the City, is hereinafter referred to as "Developer's Termination Right". 3.2 The Develaper may exercise Develaper's Termination Right if the approved Site Plan has expired and no permits have been issued. by the City with respect to the Project. 3.3 To exercise Developer's Termination Right ,Developer shall notify Escrow Agent (as identified in paragraph (3) of this Agreement) and City of such exercise within one hundred twenty (l2~) days after Developer is entitled to exercise Developer's Termination Right. 3.4 Before Developer may exercise Developer's Ternination Right, Developer shall Page 3 of 11 reconvcy Abandoned Depot Road to City, free and clear of all encumbrances, liens and taxes, and title shall be good, insurable and marketable, subject only to the matters described in Exhibit "D" which is attached hereto("Permitted Exceptions"). Evidence of Developer's compliance or noncompliance with the title requirements of this Agreement shall be by the issuance of a title insurance commitment and owners' marketability title insurance policy by a Florida licensed title underwriter selected by Developer, or by the opinion of a Florida Bar Board Certif ed Real Estate Attorney selected by the City. 3.5 If Developer is entitled to and exercises Developer's Termination Right, within one hundred fifty { 150) days after Abandoned Depot Road is reconveyed to City in accordance with the terms of this Agreement (i.e. City has acquired good, marketable and insurable title to Abandoned Depot Road, subject only to the Permitted Exceptions), City shall vacate and abandon Tract RW. In addition, City may terminate the Temporary Easement Agreement without thereby releasing any Developer financial liability thereunder which has accrued prior to tern~ination or which may be secured by the Bond issued pursuant to the Roadway Improvement Agreement. 4. Escrow of Recom~eyance Deed. To secure the City's Reconveyance Right and Developer's obligation to reconvey Abandoned Depot Road to City- if Developer exercises Developer's Termination Right, Developer has, on even date herewith, executed and delivered to City's counsel, as Escrow Agent, a fully executed Warranty Deed ("Warranty Deed"), the form of which is attached hereto and made a part hereof as Exhibit "E". Upon the City's written notice to Escrow Agent and Developer stating that City has exercised City's Reconveyance Right, Escrow Agent shall be authorized to and shall promptly record the Warranty Deed in the Public Records of Palm Beach County, Florida to effectuate the rconveyance of Abandoned Depot Road. The form of the Escrow Agreement is attached hereto as Exhibit "F". S. Agreement I~Tot to Encumber. Developer shall not encumber the title to Abandoned Depot Road, shall not lien, sell, convey, transfer, pledge, mortgage, or hypothecate Abandoned Depot Road, and shall not permit any person or entity other than the City to acquire any right, title, or interest in Abandoned Depot Road (collectively referred to as "Encumbrance") during the term of this Agreement. Any Encumbrance shall be void and have no force or effect with respect to Abandoned Depot Road and shall at ail times be subject and inferior to the City's Reconveyance Right. City shall be entitled to obtain a judgment against any person or entity who may hold an Encumbrance declaring that the Encumbrance is void and of no force and effect and it is extinguished from the Public Records of Palm Beach County, Florida with respect to Abandoned Depot Road. City's remedies include, but are not limited to, injunction, foreclosure, specific performance, quiet title, and declaratory relief. Default and Remedies. 6.1 Default. The failure of the Owner or the City to their respective obligations under this Agreement (the "Defaulting Parl Page 4 of 11 notice from the other party specifying the nature of the failure (the '`Non-Defaulting Party"), shall constitute a default and breach of this Agreement. 6.2 Remedies. The terms and provisions of this Agreement are enforceable with all remedies at law and in equity, including, but not limited to, bringing an action for actual damages, an action for specif c performance, an action for temporary restraining orders, preliminary or permanent injunctions, declaratory judgments or other similar orders for relief; provided, however, that suspension or tczmination of this Agreement on account of a breach shall not be an available remedy. The parties to this Agreement hereby acknowledge and stipulate the inadequacy of legal remedies and the irreparable harm that would be caused by a material breach of any obligation under this Agreement by a party to this Agreement. 6.3 Additional Remedy. if the City exercises City's Reconveyance Right or Developer exercises Developer's Termination Right, but Abandoned Depot Road is not effectively reconveyed to City in compliance with the terms and conditions of this Agreement, or if reconveyed, there is a breach of the Developer's obligation not to encumber Abandoned Depot Road, or City does not obtain good, insurable, and marketable title to Abandoned Depot Road subject only to the Pernitted Exceptions, in that event, in addition to any other available remedy to the City, City may declare a violation ofand/or withhold, deny, abate, or revoke approval of any then pending or existing pernut, site plan, development order, vaz-iance, or other governmental or quasi-govezmental consent or approval which relates to or concerns the Project until the Developer effects the reconveyance of Abandoned Depot Road to the City in compliance w7th dais Agreement. General Provisions, 7.1 Amendment. This Agreement may be amended or modified only by a written instrument signed by both parties or their respective successors and assigns, which instrument must be recorded in the Public Records of Palm Beach County, Florida. 7.2 Entire Ageement. This Agreement sets forth the entire agreement between the Developer and the City ~~ith respect to the easement granted in this Agreement. This Agreement supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the parties. 7.3 Govemin~ Law. This Agreement wil l be intezpreted and enforced in accordance «7th Florida law. 7.4 Successors and Assigns. The covenants, conditions and agreements contained in this Agreement will inure to the benefit of and be binding upon the successors and assigns of the Developer and the City._ 7.5 Authority to Execute; Representations. The Developer and the City each warrant and represent to the other that the individuals signing this Agreement on behalf of the Developer and the Page 5 of 1 I City, respectively; have full power and authority to execute and deliver the Agreement and to bind the respective patties hereto. 7.6 Counterparts. This Agreement may be signed in two or more counterparts, each of which constitutes the Agreement of the parties and each of which shall be treated as an original. 7.7 Severability. If any term or provision of this Agreement or application thereof to any person or circumstance shall, to any extent, be found by a court of competent jiu-isdiction to be im~alid or unenforceable, the remainder of this Agreement, or the application of such teen or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term or provision of this Agreement shall be valid and enforceable to the fullest extent pei~nitted by law. 7.8 Non-Waiver. No waiver of, or failure to assert, any claim, right, benefit or remedy of any party pursuant to this Agreement shall operate as a waiver of any other claim, right or benefit. The failure of any party at any time or times to require performance of any provision hereof shall in no maizner affect such party's right at a later time to require such performance or to enforce the same fully. No waiver or modification of the terms hereof shall be valid unless in writing and signed by the party to be charged, and then only to the extent therein set forth. 7.9 Headings. The headings of the articles of this Agreement are for guidance aild convenience of reference only and shall not limit or otherwise affect any of the terms or provisions of this Agreement. 7.10 Covenant Running with the L and. This Agreement aild the easements granted herein, and all of the rights, duties and obligations of the parties wish respect thereto, shall be construed as covenants running ~x~ith the land, binding and inuring to the benefit of the City or the Developer, as the case may be, their respective successors, assigns and/or grantees. 7.11 Lienholders. By its joinder in this Agreement, First United Bank (Developer's "Lienholder'"), the holder of a lien on the Historic Depot Square land, has consented and does hereby consent to this Agreement, and the liens and security interests held by Lienholder are hereby made subject and subordinate to the teens of this Agreement ~~ithout the necessity of the execution of any other document. Airy future deeds of trust or mortgages shall automatically, without the necessity of any additional instrument, be subject and subordinate to the terms and conditions of this Agreement and shall be bound by the terms of this Agreement. Any party foreclosing any such deed of trust or mortgage, or acquiring title by deed in lieu of foreclosure or trustees sale shall acquire title subject to all the terrns and provisions of This Agreement. In the event City exercises City's Reconveyalice Right or Developer exercises Developer's Termination Light and Abandoned Depot Road is reconveyed to City, Lienholder agrees that its inferior lien against Abandoned Depot Road shall automatically be extinguished, released, and be of no further force or effect upon recordation of the Abandoned Depot Road Warranty Deed. Page h of I 1 7. i2 Joint Preparation. The preparation of this Agreement has been ajoint effort of the City and the Developer and the resulting document shall not, solely as a matter of judicial construction, be construed more severely against one pai-ly than the other. 7.13 Attorneys Fees. Ili coiznection with any litigation, or dispute arising out of this Agreement, each party shall bear its o~m attorneys' fees and costs. 7.14 Further Assurances. The pai-cies agree to execute all future instruments and take all further action that may be reasonably required by any party to fully effectuate the teens and provisions of this Agreement and the transactions contemplated herein. 7.15 Venue. Any dispute relating to this Agreement shall only be filed in a court of competent jurisdiction in Palm Beach County, Florida, and each of the parties to this Agreement submits itself to the jurisdiction of such court. 7.16 Hazardous Substances. Neither Developer nor City shall cause or permit at any time during the term of this Agreement, any hazardous substances to be disposed of or otherwise released on, to or under Abandoned Depot Road. Neither Developer nor City shall engage in operations aver, upon or under Abandoned Depot Road that involve the generation, manufacture, refining, transportation, treatment, handling or disposal of "Hazardous Substances" or "hazardous wastes" as such teens are defined ui7der any en~~ironmental laws. Developer acknowledges however, that Abandoned Depot Road will be utilized for parking and dm~ing vehicles which may Leak oil, gasoline, or other fluids onto the ground, and City shall not be responsible for removal of such waste or have any liability for it under this Ab •eeinei~it. 8. No Penalty. Developer acknowledges that construction of improvements on the Historic Depot Square is subject to the City's Reconveyance Right. Therefore; such construction is at Developer's risk andthat the loss of such improvements resulting from the City's exercise of the City's Reconveyance Right shall not be deemed a penalty or forfeiture. 9. City Approvals. The City reserves its authority to approve the architectural design and site plan of the Project and the issuance of building permits in accordance ~~ith its governmental and quasi-govemmental functions. Developer acknowledges and agrees that if City exercises City's Reconveyance Right, the site plan, permits and other approvals relating to Historic Depot Square will have to be modified and may no longer be in compliance w7th applicable governmental laws, ordinances and rules, a~~d they may be revoked or rescinded by City until there is compliance with all applicable govei-runenta] laws, ordinances and rules. Page 7 of 11 10 Govezmmental Functions: Notwithstanding anything to the contrary contained in this Agreement. a. Even though the City has certain contractual obligations under this Agreement such obligations shall not relieve any person subject to this Agreement from corrzplying with all applicable governmental regulations, rules, laws, and ordinances. b. To the e?.~tent approval or permission must be obtained from the City, such approval or permission shall be granted or denied in accordance with applicable governmental regulations, rules, laws, and ordinances, and no person shall have any vested rights. c. The City has not waived its sovereigzi imrrrunity and the limits of tort liability set forth in F. S. ~ 768.28 (5}(2008} of $100,000.00 per person and $200,000.00 per occurrence shall apply; and d. Any action by City sha[1 be without prejudice to, and shall not constitute a limit or impairment or waiver of, or otherwise affect City's rightto exercise its discretion in connection ~~rith its govemmental or quasi-govennemental functions. 11. Notices. Any notice, demand or request which maybe permitted, required or• desired to be given in connection therewith shall be given in writing and directed to the City and the Developer as follows: As to City: R. Brian Shutt, Esq. City Attorney 200 N. W. ly` Avenue Delray Beach, Florida 33444 With a copy to: Mr. David Harden, City Manager City of Delray Beach 100 N. W. 15` Avenue Delray Beach, Florida 33444 As to Developer: Depot Industrial Center, LLC 250 N. W. Diagonal Boca Raton. Florida 33432 With a copy to: Michael Listick, Esq. 190 S. E. 5`h Avenue Delray Beach, Florida 33483 Page 8 of 11 Notices shall be deemed properly delivered and received when and if either (i) personally delivered; or (ii) one (1) business day after deposits with United Parcel Service or other overnight courier; or (iii) the swine day when sent by confirmed facsimile before 5:00 p.m. (Eastern time}. IN WITNESS WHEREOF, the parties to this Agreement set their hands and seals the day and year f rst above v~n•itten. ATTEST: By: CITY OF DELRAY BEACH, FL012IDA Bv: City Clerk Nelson S. McDuffte, Mayor Date: Approved as to Form: By: City Attorney STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me this day of , 2010, byNelson S. McDuffie, the Mayor ofthe CITY OF DELRAI' BEACH, FLORIDA. He!She is personally known to me or has produced (type of identification) as identification. Signature of Person Taking Acknowledgnnent WITNESSES: Page 9 of 11 DEPOT INDUSTRIAL CENTER, LLC, a Florida Limited Liability Company Witness Print Nanze of Witness Witness BY: Print Name of Witness Thomas Head, Manager Date: STATr OF FLORIDA COUNTY OF The foregoing instrument was acknowledged before me this day of 201 I, by Thomas Head, the Manager of Depot Industrial Center, LLC, on behalf of The . He/She is personally known to me or has produced (t}~pe of identification) as identification. Signature of Person Taking Acknowledgment Page I O of 11 JOINDER AND CONSENT OF LIENHOLDEI2 The undersigned, set forth in Section 6.11 above. hereby joins in ibis Agreement for the purposes FIRST UNITED BANK BY: its Vic e President STATE OF COUNTY OF The foregoing instnunent was ackno«~ledged before me this day of , 2011, by ,the of . He/She is personally knov~nl to me or has produced (type of identification) as identification. Signature of Person Taking Acknolwedgement Page 11 of i 1 EXHIBITS TO DECLARATION OF RESERVED RIGHTS AND AGREEMENT NOT TO ENCUMI3EI2 (Abandoned Depot Road) Exhibit "A" - Legal Description of Historic Depot Square. Exhibit "B" - Legal Description of Abandoned Depot Road. Exhibit "C" - Legal Description of Relocated Depot Road. Exhibit "D" - Permitted Exceptions to reconveyance of Abandoned Depot Road. Exhibit "E - Warranty Deed from Depot to reconvey Abandoned Depot Road. Exhibit "F" - Escrow Agreement for holding Exhibit "E" (ROW Escrow Agreement). Exhibit A Legal Description of Historic Depot Square. PLAT LEGAL DESCRIPTION DESCRIPTION A REPEAT OF PART OF SECTION 18, TOWNSHIP 46 S. RANGE 43 E AND ALL OF THE PLAT OF "MACK INDUSTRIES-DELRAY", PLAT BOOK 43, PAGE 138, PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, CITY OF DELRAY BEACH, PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARILY DESCRIBED AS FOLLOWS: A PARCEL OF LAND LYING IN SECTION 18, TOWNSHIP 46 SOUTH, RANGE 43 EAST, CITY OF DELRAY BEACH, PALM BEACH COUNTY, FLORIDA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOV~S: COMMENCE AT THE NE CORNER OF SAID SECTION 18; THENCE N89°09'21"W, A DISTANCE OF 251.13 FEET, ALONG THE NORTH LINE OF SAID SECTION 18; THENCE S14°28'43"W' ALONG THE EAST RIGHT OF WAY LINE OF THE SEABOARD COASTLINE RAILROAD, A DISTANCE OF 143.88 FEET TO THE POINT OF BEGINNING; THENCE S14°28'43"W ALONG SAID EAST RIGHT OF WAY LINE, A DISTANCE OF 143.60 FEET; THENCE S14°28'43"W ALONG SAID EAST RIGHT OF WAY LINE A DISTANCE OF 407.32 FEET;THENCE N89°09'21"W A DISTANCE OF 2.13 FEET TO A POINT ON A CURVE, CONCAVE TO THE EAST, HAVING A RADIUS OF 2815.00 FEET, AND A DELTA ANGLE OF 07`52'41 ", RADIAL BEARING THROUGH SAID POINT BEARS S82°59'54"E; THENCE SOUTHERLY ALONG SAID CURVE AN ARC DISTANCE OF 387.06 FEET TO A POINT OF TANGENCY THENCE S00°52'35"E A DISTANCE OF 288.98 FEET;THENCE S89°56'26"E ALONG THE NORTH RIGHT OF WAY OF NORTHWEST 2ND STREET HAVING A PROPOSED RIGHT OF WAY WIDTH OF 30.00 FEET A D?STANCE OF 458.47 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF INTERSTATE 95 AS RECORDED IN ORB 2187, PAGE 1256, HAVING AN IRREGULAR RIGHT OF W'AY WIDTH; SAID POINT BEING ON A CURVE CONCAVE WESTERLY HAVING A RADIUS O"r 1063.92 FEET, A DELTA ANGLE OF 08°39'43"; RADIAL BEARING THROUGH SAID POINT BEARS N85°23'36"VU; THENCE NORTHERLY ALONG SAID CURVE AN ARC DISTANCE OF 160.85 FEET; THENCE N04°03'20"W ALONG SAID WEST RIGHT OF WAY OF INTERSTATE 95, A DISTANCE OF 506.19 FEET; THENCE N08°04'42"W A DISTANCE OF 94.11 FEET TO A POINT OF CURVATURE, CONCAVE EASTERLY, HAVING A RADIUS OF 3969.72 FEET, A DELTA ANGLE OF 05°3 i'4T', THENCE NORTHERLY ALONG SAID CURVE A DISTANCE OF 383.13 FEET TO A POINT ON A CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 73.00 FEET A DELTA ANGLE OF 105°17'12", RADIAL BEARING THROUGH SAID POINT BEARS N61°39'17"W; THENCE WESTERLY ALONG SAID CURVE AN ARC DISTANCE OF 134.14 FEET, TO A POINT ON A CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 215.00 FEET, A DELTA ANGLE OF 27°38'45", RADIAL BEARING THROUGH SAID POINT BEARS N86°42'29"E; THENCE NORTHERLY ALONG SAID CURVE A DISTANCE OF 103.74 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF THE E-4 CANAL SAID POINT BEING ON A CURVE. CONCAVE NORTHERLY, HAV{NG A RADIUS OF 600.00 FEET A DELTA ANGLE OF 11 °49'20", RADIAL BEARING THROUGH SAID POINT BEARS N12°22'4E"W; THENCE WESTERLY ALONG SAID SOUTH RIGHT OF V1,'AY A DISTANCE OF 123.80 FEET TO THE POINT OF BEGINNING. TOGETHER WITH A PARCEL OF LAND LYING IN SECTION 18, TOWNSHIP 46 SOUTH, RANGE 43 EAST, CITY OF DELRAY BEACH, PALM BEACH COUNTY, FLORIDA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED A5 FOLLOWS: COMMENCE AT THE NE CORNER OF SAID SECTION 18 THENCE N89°09'21"W, A DISTANCE OF 251.13 FEET ALONG THE NORTH LINE OF SAID SECTION 18; THENCE S14°28'43"W ALONG THE EAST RIGHT OF WAY LINE OF THE SEABOARD COASTLINE RAILROAD, A DISTANCE OF 143.88 FEET; THENCE S14°28'43"W ALONG SAID EAST RIGHT OF WAY LINE, A DISTANCE OF 143.60 FEET; THENCE S14°26'43"W ALONG SAID EAST RIGHT OF WAY LINE A DISTANCE OF 407.32 FEET; THENCE N89°09'21"W A DISTANCE OF 2.13 FEET TO A POINT ON A CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 2815.00 FEET, AND A DELTA ANGLE OF 07°52'41", RADIAL BEARING THROUGH SAID POINT BEARS S82°59'54"E; THENCE SOUTHERLY ALONG SAID CURVE AN ARC DISTANCE OF 387.06 FEET TO A POINT OF TANGENCY; THENCE S00°52'35"E A DISTANCE OF 288.98 FEET; THENCE S89°56'26"E ALONG THE NORTH RIGHT OF WAY OF NORTHWEST 2ND STREET HAVING A PROPOSED RIGHT OF WAY WIOTH OF 30.00 FEET A DISTANCE OF 307.16 FEET; THENCE S00°04'40"E, A DISTANCE OF 30.OG FEET TO THE POINT OF BEGINNING; THENCE CONTINUE S00°04'40"E A DISTANCE OF 300.27 FEET; THENCE N88`49'47"E A DISTANCE OF 70.41 FEET TO A POINT ON A CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 1063.92 FEET, A DELTA ANGLE OF 09°40'54"; RADIAL BEARING THROUGH SAID POINT BEARS N67°U5'34"W; THENCE SOUTHWESTERLY ALONG SAID CURVE AN ARC DISTANCE OF 179.78 FEET TO A POINT OF TANGENCY; THENCE S32°35'19`W ALONG THE WEST RIGHT OF WAY LINE OF SAID INTERSTATE 95 A GISTANCE OF 91.69 FEET; THENCE N89°39'19"W A DISTANCE OF 210.06 FEET; THENCE N00`4S'37"W A DISTANCE OF 100.63 FEET; THENCE CONTINUE N00°48'37"W A DISTANCE OF 408.07 FEET TO A POINT OF CURVATURE OF A CURVE, CONCAVE SOUTHEASTERLY, HAVING A RADIUS OF 25.00 FEET, A DELTA ANGLE OF 90`52'11"; THENCE NORTHEASTERLY ALONG SAID CURVE AN ARC DISTANCE OF 39.65 FEET TO A POINT OF TANGENCY; THENCE S89°56'26"E ALONG THE SOUTH RIGHT OF WAY LINE OF NORTHWEST 2ND STREET HAVING A PROPOSED RIGHT OF WAY WIDTH OF 30.00 FEET A DISTANCE OF 254.40 FEET TO THE POINT OF BEGINNING. TGGETHER WITH A PORTION OF MACK INDUSTRIES-DELRAY P.S RECORDED IN PLAT BOOK 43, PAGE 138 OF THE PU6LiC RECORDS OF PALM BEACH COUNTY, FLORIDA BEING MORE PARTICULARLY GESCRIBEC AS FOLOWS: BEGINING AT THE SOUTHWEST COP.NER OF Iv1ACK INDUSTRIES DELRAY-PLAT, SAID CORNER BEING ON A CURVE CONCAVE WESTERLY HA\/LNG A RADIUS OF 541.40 FEET AND A DELTA ANGLE OF 22°30'0', RADIAL BEARING THROUGH SAID CORNER BEAP,S N8 i °25'47"W; THENCE NORTHWESTERLY ALONG SAID CURVE AN ARC LENGTH OF 21262 FEET TO A POINT OF TANGENCY; THENCE N13°55'52"W A DISTANCE OF 79.15 FEET; THENCE S89°39'19"E, A DISTANCE OF 187.16 FEET; THENCE S32°35'i9"W, A DISTANCE OF 109.88 FEET TO A POINT OF CURVATURE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 632.00 FEET AND A DELTA ANGLE OF 19°29'29"; THENCE SOUTHWESTERLY ALONG SAID CURVE AN ARC DISTANCE OF 215.00 FEET; THENCE N79°12'27"W, A DISTANCE OF 16.25 FEET TO THE POINT OF 6EGINNING. LEGAL DESCRIPTION OF RIGHT OF WAY THAT CITY lS CONVEYING TO DEVELOPER: DEPOT ROAD RIGHT OF WAY A PARCEL OF LAND LYING IN SECTION 18, TOWtdSHIP 46 SOUTH, RANGE 43 EAST, CITY OF DELRAY BEACH, PALM BEACH COUNTY, FLORIDA, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NE CORNER OF SAID SECTION 18; THENCE N 89°09'21 " W, ALONG THE NORTH LINE OF SAID SECTION 18, A DISTANCE OF 251.13 FEET; THENCE S 14°28'43" W, ALONG THE EAST RIGHT GF WAY LINE OF THE CSX RAILROAD, A DISTANCE OF 143.88 FEET TO A POINT ON A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 600.00 FEET AND A DELTA ANGLE OF 1 1 °49'20"; RADIAL BEARING THROUGH SAID POINT BEARS N 00°33'26" W; THENCE EASTERLY, AN ARC DISTANCE OF 123.80 FEET TO A POINT ON A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 215.00 FEET AND A DELTA ANGLE OF 27°38'45", RADIAL BEARING THROUGH SAID POINT SEARS S 65°39'04" E; THENCE SOUTHERLY ALONG SAID CURVE AN ARC LENGTH OF 103.74 FEET TO THE POINT OF BEGINNING, SAID POINT HAVING A RADIAL BEARING OF N 86°42'29" E AND BEING A POINT OF COMPOUND CURVATURE, HAVING A RADIUS OF 215.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE, CONCAVE EASTEPLY AND HAVING A DELTA ANGLE OF 01°11'48", AN ARC DISTANCE OF 4.49 FEET TO A POINT OF TANGENCY; THENCE S 04°29'19" E, A DISTANCE OF 982.51 FEET, THENCE S 31°05'49" W A DISTANCE OF 160.88 FEET TO A POINT ON THE NORTH RIGHT OF WAY LINE OF N.W. 2ND STREET; THENCE S 89°56'26" E A DISTANCE OF 204.24 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF INTEP.STATE I-95 A5 RECORDED IN OFFICIAL RECORDS 2187, PAGE 1256; SAID POINT BEING ON A CURVE CONCAVE WESTERLY, HAVING A RADIUS OF 1063.92 FEET, WHOSE RADIUS BEARS N 85°23'36" W; THENCE NORTHERLY ALONG SAID CURVE HAVING A DELTA ANGLE OF 8°39'4.3" AN ARC LENGTH OF 160.85 FEEL; TO A POINT OF TANGENCY; Ti-1ENCE N 04°03'20" W ALONG SAID WEST RIGHT OF WAY LINE OF I-95, A DISTANCE OF 506.19 FEET; THENCE N 08°04'42" W ALONG SAID WEST RIGHT OF WAY L{NE OF 1-95 A DISTANCE OF 94.11 FEET TO A POINT ON A CURVE; SAID CURVE CONCAVE EASTERLY HAVING A RADIUS OF 3969.72 FEET; THENCE NORTHERLY ALONG SAID CURVE (BEING ON THE WEST RIGHT OF WAY LINE OF 1-95) HAVING A DELTA ANGLE OF 5°31'47" AN ARC DISTANCE OF 383.13 FEET TO A POINT ON A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 73.00 FEET WHOSE RADIUS BEARS N 61 °39' 17" W, THENCE WESTERLY ALONG S.AiD CURVE, HAVING A DELTA ANGLE OF 105°17'12", AN ARC DISTANCE OF 134.14 FEET TO THE POINT OF BEGINNING. TOGETHER WITH: NW 2ND STREET RIGHT OF WP,Y A PORTION OF MACK INDUSTRIES-DELRAY, AS PECORDED iN PLAT BOOK 43 PAGE 138 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINING AT THE NE CORNER OF SAID MACK INDUSTRIES-DELRAY PLAT (P.0.6.), THENCE N 89°5fi'26" W, A DISTANCE OF 149.78 FEET TO A POINT OF CURVATURE; SAID CURVE CONCAVE SOUTHEASTERLY, HAVING A RADIUS OF 25.00 FEET AND A DELTA ANGLE OF 90°52' 11 ", THENCE SOUTHWESTERLY ALONG SAID CURVE, AN ARC DISTANCE OF 39.65 FEET; THENCE N 00°48'37" W, P, DISTANCE OF 10.00 FEET; TO A POINT OF CURVATURE CONCAVE SOUTHEASTERLY, HAVING A RADIUS OF 25 FEET AND A DELTA ANGLE OF 90°52'1 1 "; THENCE NORTHEASTERLY ALONG SAID CURVE FOR AN ARC DISTANCE OF 39.65 FEET TO A POINT OF TANGENCY; THENCE S 89°56'26" E, A GiSTANCE OF 149.78 FEET; THENCE S 00°48'37" E, A DISTANCE OF 10.00 FEET 70 THE POINT OF BEGINNING; CONTAINING 1,752 SQUARE FEET, MORE DESCRIPTION OF a Bti ND ONMEN T CERTIFICATION: SCALE: ?" - 80' FOUNDED 1993 THIS SKETCH MEETS MINIMUM TECHNICAL STANDARDS AS SET FORTH BY THE FLORIDA BASELINE ~ ENGINEERING BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS 1N CNAPTI=R 6;G77-6, FLORIDA L7~Aw~l Bv~ D.,LM. ADMI.NISTRATIYE C -FURS SEC770N 472.027, FLORIDA STATUTES. AND ~°~' ~_ CHECKED BY M. J.A. G ~/,..~;,_ ~ _.-~ ~~._~ ( LAND SURVEYING, INC. ERNcST W. OUNCAN. PSN,. Sloe of F/orio~ote ~ 1400 N. W. 1st COUR? Professional Surveyor & Mapper No. 5187 BOCA RA TON, FLORIDA 34.32 'THIS DRAWING, SKETCH, PLAT, OR MAP !S FOR 1NFDRMATlON PURPOSES DNLY AND fS EB 6510 (561j X17-0700 LB 0439 .NOT YALID, UNLESS /7 BEARS THE SIGNA PJRE AND THE OP,IGINAL RAISED SEAL OF A p I FI f)Rtl1A i rc~nrcrn CI IRVFY(7R dN!] AAd PPFG ~Ot~l N~. 0/-~..'-oiJ I,~ht t`~ N0. I ~f J 0 0 ~ ~~ 2 JQ ,2~:hR' lo`' U Q'p0 n_~ . ~ n 4 ~~ DO ~~c~ ~~.a ~ Q~~o~~. M o U /i ° Q `~ ~ o 0 Z W 2ND STREET S89'S6'26'E 1,?52+: - SQUARE FEET N89'S6'26'W 14 9.78' J Q W ~ ~ ~ Q _I ~ V ~ ~- W ~ ~ _ ~ ~ ~ ~ Q O ~ ~ m z Q w U Q 1 KETCH 0>c m ~ ~ p r ~ v '- (L ¢ v, a o ~ - W ]C Z V O f U W Z qtr<flrrc,H rfufv: ISC.ALE: J" = 80~ THIS SKETCH MEETS MfNfMUM TECHNICAL STANDARDS AS SE7 FORTH BY 7NE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS 1N CHAPTER 61G17-6, FLORIDAI DRAWN BY.' D.J.M. ADMfN1STRATiVE CO .PAJkSUAN SECTION 472.027, FLORIDA STATUTES. J ~ ~ CHECKED BY M. /. A. ERNEST W. DU/JCAN PSM. Stole o1 F/orid~ote Pro/essiona! Surveyor & lfopper No. 5182 THlS DRAN7NG, SKETCH, PLAT, OR MAP IS FOR INr"ORMATlON PURPOSES ONLY' AND IS N07 VAL10, UNLESS 17 BEARS THE SIGNATUkE AND THE ORlGIiJAI RAISED SEAL OF" A S R/W~ NW 2nd STr?EcT (O "V r'~ ~~ O I~I, 1 ~-U U Q FOUI/DED 199 BASc L/NE ~ ENGINEERING AND LANG SURVEYING, INC. 1400 N. H! 1st COURT BOCA RA TON; FL OR/DA 33432 EB 6510 ~~501) 417- 0700 ~ ~ 6439 /OB NG.; OS-05-0131 SHt r i N0. 2 0; 3 '` ~ NORTH LINE SECTION .8 Q~ ' ` W 251.?3~ 21 o~ ~ N89'09 ~ J U ~ ~ ~ V °` S 6• ~~ N R=600.00' , 5390 N s F ~~ ~ D=} 1'49'20 ~~i0/,yt ~ Z A_}23.80' O x °o ',o GCE Ne~3R4p~ " ~ Z E rn Ne6'42'29 A=13<.14' ' ~ (RnoinCS-- w J ti= ~ ~ POINT OP BEGINNING n=705'1T12~ U PARENT TRACT ~`~ ~ (!~ ~[i ' n o -+ ~ o (^\ ~ ' 1 ma .- w G U ~ ~~ O = O Z N O ~ ~ ~ O d a~ O ti _~ rn I+J Q O ~ ~ O "p~ t N ~ O ~ W [Y~ C ~ 0 ,3 a~ . POINT OF COMMENCtMtNI NORTHEfu~T CORNER SECTION 18, TOWNSHIP 465, RANGE 43E U la u' 3 tf') N 3 -,. < ~ a r0 t1J ~ S ~~ Q 64. G ~ Z r M13 ~ tJi ao>J N m rn F` m 4 ~ ~ C> Y ~ ~M a my r7 ~Po II o II QII~ d NORTH RIGHT Os- WAY LINE N.W. Znd STREET ~cN o~ DEP THIS SKETCH MEETS MINIMUM 7ECNNICAL STANDARDS AS SET FORTH BY THE FLORIDA BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS !N CHAPTER biG17-b, FLORIDA ADMlNfSTRAnVE CODE„~' RSUANT ~SFC710N 472.027, FLORIDA STATUTES. ERNEST W. DUNCRA~ PSN,. Stote of FloridoDote Professibno/ Surveyor & Mopper No. 5182 THIS DRAWING, SKETCH. PLAT, OR MAP IS FOR INFORMATr01J PURPOSES ONLY AND !S N07 VALJD, UNLESS 17 BEAP,S THE SIGNATURE AND THE ORIGINAL RAISED SEAL OF A ., ".~,,... , ,,.r.,crn cuo~wnc enlO 1/e PP:P AD ABAP~JC SCALE' 1" = 8Q' DRAWN BY.~ D. J.M. CN,ECKED BY' M. J.A. ~NN,'ENT FOUNDED 1993 B,4 ScLINE ~ ENGINEERING AND LAND SUR tiEYING INC. 1400 N. Yt' 1st COURT BOCA RA TON, FL ORIDA 33432 Eta 6510 ~561~ 41 i - 0?OG LB 643 JOB NO.: 05-05-013~SHEET N0. 3 of 3 Exhibit C Legal Description of Relocated Depot Road. Tract RW and Tract RW-1 as shown on the proposed Plat of Historic Depot Square Exhibit D Permitted Exceptions to reconveyance of Abandoned Depot Road. OLD RFI'UBLIC' NAll"ONAL TIT LL' I.NrSURANCE COMPANY COMMITMENT Schedule B-ri Fund File t~lumber: Agent's File Reference: 06-2008-007200A1 Historic Depot/Delray Beach I1. Schedule B of the Policy or Policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: or attaching subsequent to the Effectiv triter-ec~u~rio a e e roposed Ins/u~red acquires for value of r ~ er~age-tl}e~c~rt-eol~erQd-by-t~:is-£t~mm~itrtrerrk l~~_ 1~' ~r~ L~- ~he-}ie--z-oi-m;-axes-ers~eei-al-assesstrjertEs-€~or-t#~e-~~ar-{~-2{}~N-and-theraaft~-wla~l~a~e not-}mot-due-arid-13ayable. ~ ~! r, n:,.r,....._ .,i,,:i3-6~j7fltFte3-lit-}~e33E33t~i1-Clot-T:' 't'f~tC~Trds. ~(7 tai' "'~.~ . o e~er~s~er~-~rr3}br-aflse;-v~olation~zr-iatiar~r--er-aduer~e~ircuuistattce--tlzai-w.outd be ~~sclasP I7Y an irss~ss.~iar~-o~a{~-acc~+ate-acrd-so~ple#e-lend-survey-cif-tHe-I/ancl-aitcl-irtspeetiam6f thc-~~a~nd. `~~. {~2 K? -'~~n`~,- ~ratms-of-cascmcnts-n bi~i~-Reorn'ds. ~,,~' , ~ ~~ ~=- 1~~- 1J:z-- I -~ ~"~ 3. Any Owner Policy issued pursuant hereto will contain under Schedule B the fol]owing exception: Any adverse ownership claim by the State of Florida by rigs:t of sovereignty to arty portion of the Lands insured hereunder, including submerged, filled a~zd artificially exposed lands, and lands accreted to such lands. 4. Taxes for the year 201 1, which are not yet due and payable. st~;~-s€-tt~--~ i~%1 ~~~ c~ 6. All matters contained on the Plat of Model Land Company's Subdivision of the North 1/2 and part of the South 1/2 of Section 18, Township 46 South, Range 43 East, as recorded in Plat Book 6, Page(s) S 1, Public Records of Palm Beach County, Florida. 7. Declaration of Restrictions recorded in O.R. Book 36 i6, Page 1067, Public Records of Palm Beach County, Florida. 8. All matters contained on the Plat of Mack Industries-Delray, as recorded in Plat Book 43, Pages} 138, Public Records of Palm Beach County, Florida. 9. Ordinance of the City of Delray Beach recorded in O.R. Book 5887, Page 244 and O.R. Book 6620, Page 1707, Public Records of Palm Beach County, Florida. _ ~ , spot-Irrclnstriai-~erittr, i r r,~L~„.~ ~~n rat., „F~7i,,el}"~e3613~-F~{9ri~ ,a--FCC-e\r\rn~'-u-irrvz~; lc , I~&~0---i~ljl'!e-Pcee6r~-~6~-IlElm ~Cfi"C-j"'~'"1~rYtlH~~-~ ~ ~,/ ~ ~ ~~~ b 11. All matters contained on the Plat of Historic Depot Square, as recorded in Plat Book _, Page(s) _, Public Records of Palm Beach County, Florida. (To be recorded} 12. Notice of Environmental Resource ar Surface Water Manaeement Permit by South Florida Water Management District recorded in O.R. Book 23383, Page 952. Public Records of Palm Beach County, Florida. Form CI~6-SCH.•B-il (rev. 12/10) Exhibit E ~~Jarranty Deed from Depot to reconvcy Abandoned Depot Road. "Ibis instrument was prepared by and RrTURN TO: Steven D. Rubin, Esq. 980 North Federal Highway, Suite 434 Boca Raton, Florida 33432 SPECIAL V4'ARRA\T'TY DEED THI5 INDENTURE, made this day of , 20_, BETWEEN DEPOT INDUSTRIAL CENTER, LLC, a Florida Limited Liability, Company, 250 N. W. Diagonal, Roca Raton, Florida 33432, grantor*, and CITY OF DELRAY BEACH, a Florida Municipal Corporation, whose post offce address is 200 N. W. ls` Avenue, Dclra}~ Bcach, Florida 33444, grantee*, WITNESSETH that said grantor, for and in consideration of the sum of Ten and no/100ths ($10.00) Dollars, and other good and valuable considerations to said grantor in hand paid by said grantee, the receipt whereof is hereby acknowledged, has granted, bargained and sold to the said grantee, and grantee's heirs and assigns forever, the following described Iand, situate, lying and being in Palm Beach County, Florida, to-wit: See Attached Exhibit "A" SUBJECT TO: (a) All matters contained an the Plat of Model Land Company's Subdivision of the North 1/2 and part of the South 1/2 of Section 18, Township 46 South, Range 43 East, as recorded in Plat Book 6, Page 51, of the Public Records of Palm Beach County, Florida; (b) Declaration of Restrictions recorded in Official Record Book 3616, Page 1067, of the Public Records of Palm Beach County, Florida; (c} All matters contained on the Plat of Mack Industries-Delray, as recorded in Plat Book 43, Page 138, of the Public Records of Palm Beach County, Florida; (d) Ordinance of the City of Delray Beach recorded in Official Record Book 5887, Page 244, and Official Record Book 6620, Page 1707, of the Public Records of Palm Beach County, Florida; (e) All matters contained on the Plat ofHistoric Depot Square, as recorded in Plat Page 1 of 2 Book ,Page , of the Public Records of Palm Beach County; Florida; (f) Notice of Environmental Resource or Surface Water Management Permit by South Florida Water Management District, recorded in Off cial Record Book 23383, Page 952, of the Public Records of Palm Beach County, Florida; and {g) taxes for the year this Special Warranty Deed is dated. and said grantor does hereby fully warrant the title to said land and will defend the same against the la«~ful claims of all persons arising by, through and under the Grantor. * "Grantor" and "grantee" are used for singular or plural as context requires IN WITNESS WHEREOF, grantor has hereunto set grantor's hand and seal the day and year first above written. Signed, sealed and delivered in our presence: Witness Print name of witness Witness DEPOT INDUSTRIAL CENTER, LLC, a Florida Limited Liability Company BY: Print name of witness Thomas I-lead, Manager STATE OF FLORIDA COUNTY OF PALM BEACH. (SEAL) The foregoing instrument was acknowledged before me this ,day of , 20_, by Thomas Head, Manager, Depot Industrial Center, LLC, who is personally known to me and «~ho did not take an oath. My Commission Expires: Notary Public Properly Control No. Pagc 2 of 2 Exhibit F Escrow Agreement for holding Exhibit "E" (RO~~J Escrow Agreement). RIGI-IT OF «%A1' ESCROW AGREEMENT THIS RIGI3T OF WAY ESCROW AGREEMENT (this "Agreement") is made and entered into as of 2011, by and between the CITY OF DELRAY BEACH, a Florida Municipal Corporation (the "City"), DEPOT INDUSTRIAL CENTER, a Florida Limited LIABILITY COMPANY, (the "Developer") and STEVEN D. RUBIN, ESQ. ("Escrow Agent"), (The City, Developer and Escrow Agent are sometimes referred to herein individually as a "Party," and collectively as the '`Parties.") RECITALS: A. The City and the Developer are parties to that certain Declaration of Reserved Rights and Agreement Not to Encumber Abandoned Depot Road (the "Declaration of Reserved Rights"). B. Pursuant to the terms of the Declaration of Reserved Rights, if the Developer fails to complete construction of Relocated Depot Road (as such term is defined in the Declaration of Resen~ed Rights), the City has the right to cause the Developer to reconvey Abandoned Depot Road to the City (the "City's Reconveyance Right"). C. Pursuant to the terms of the Declaration of Reserved Rights, if the approved Site Plan expires before any permits are issued by City with respect to the development of Historic Depot Square Project, the Developer has the right to terminate the Roadway Improvement Agreement; provided Developer has reconveye.d Abandoned Depat Road to the City {the "Developer's Termination Right"), D. To secure the City's Reconveyance Right and Developer's Termination Right, the Developer has caused to be executed and delivered to the Escrow Agent: (i) a fully executed warranty deed for Abandoned Depot Road (the "Deed"} and a Release of the HOA Declaration as an encumbrance against Abandoned Depot Road ("Release") and to be held in escrow with Escrow Agent. E. Escrow Agent is willing to hold the Deed and Release in escrow in accordance with the terms and conditions set forth in this Agreement. NOW, THEREFOP~E, in consideration of the mutual covenants set forth in this Agreement Page 1 of 5 and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City, Developer and the Escrow Agent hereby agree as follows: 1. Recitals and Capitalized Terms. The foregoing Recitals are true and correct and are incorporated herein by this reference, as if set forth in their entirety. All initial capitalized terms used, but not defined, in this Agreement shall have the meaning set forth in the Declarations of Reserved Rights. 2. Receipt and Deposit of Deed and Release. By its execution and delivery of this Agreement to the City, the Escrow Agent hereby acknowledges that it has received the Deed and Release from the Developer. Recordation of Deed and Release. 3.1 City's Exercise of Reconveyance Right. If the City properly and timely exercises the City's Reconveyance Right, then upon the City's unitten notice to Escrow Agent and the Developer stating that the City has properly and timely exercised the City's Reconveyance Right, the Escrow Agent shall promptly record the Deed and the Release in the Public Records of Palm Beach County, Florida. Escro~~v Agent shall promptly deliver a cop} of the recorded Deed and Release to the City. Following delivery of the recorded Deed and Release to the City and the Developer, the Escrow Agent shall thereupon be released and discharged from any further duty or obligation hereunder. 3.2 Developer's Exercise of Termination Right. If the Developer properly and timely exercises the Developer's 'Termination Right, then upon the DeveIoper's written notice to Escrow Agent and the City stating that the Developer has properly and timely exercised the Developer's Termination Right, the Escrow Agent shall promptly record the Deed and Release in the Public Records of Palm Beach County, Florida. Escrow Agent shall promptly deliver a copy of the recorded Deed and Release to the City and the Developer. Following delivery of the recorded Deed and Release to the City, the Escrow Agent shall thereupon he released and discharged from any further duty or obligation hereunder. 4. Costs and Expenses. The Developer agrees to reimburse the Escrow Agent for all reasonable costs and expenses incurred by the Escro«~ Agent in serving as Escrow Agent hereunder, including, but not limited, reimbursement for all fees in comlection with recording the Deed. 5. Compliance with Court Orders. Escrow Agent is acting as a stakeholder only with respect to the Deed. If there is any dispute as to whether Escrow Agent is obligated to record the Deeds, Escrow Agent may refuse to make any recordation and may continue to hold the Deed until receipt by Escrow Agent of an authorization in writing, signed by the City and the Developer, directing the disposition of the Deed. In the absence of such written authorization, Escrow Agent may hold the Deed until a f nal determination of the rights of the parties in an appropriate proceeding or may bring an appropriate action or proceeding for Ieave to deposit the Deed in a court of Page 2 of 5 competent jurisdiction pending such determination. Escrow Agent shall be reimbiu•sed for all costs and expenses of such action or proceeding, including, without (imitation, reasonable attorneys' fees and disbursements, by the party determined not to be entitled to the Deed. 6. Exculpation of Escrow Agent It is agreed that the duties of Escrow Agent are herein specifically provided and are purely ministerial in nature, and that Escrow Agent shall incur no liability whatsoever except for its willful misconduct or gross negligence, so Iong as Escrow Agent is acting in good faith. 7. Relationship of Parties. The City and the Developer acknowledge and agree that Escrow Agent is acting solely as a stakeholder at their request, and that Escrow Agent shall not be deemed to be the agent of either the City or the Developer. City and Developer may, from time to time, and at any time, upon mutual consent, designate a new Escrow Agent. 8. Notice. Any notice, demand or request which may be permitted, required or desired to be given in connection there~~~ith shall be given in writing and directed to the City and the Owner as follows: As to City: City of Delray Beach 100 N.W. 1 S` Avenue Delray Beach, Florida 33444 Attn: City Manager Facsimile: (561} 278-4755 With a copy to: 200 N.W. 15t Avenue Delray Beach, Florida 33444 Attn: City Attorney Facsimile: (561) 278-4755 As to Developer: Depot Industrial Center, LLC 250 N. W. Diagonal Boca Raton, Florida 33432 With a copy to: Michael Listick, Esq. 190 S. E. ~`h Avenue Delray Beach, FIorida 33483 Facsimile: (561) 278-6909 As to Escrow Agent: Steven D. Rubin, Esq. 980 North Federal Highway, Suite 434 Boca Raton, Florida 33432 Facsimile: (561) 347-0828 Page 3 of 5 Notices shall be deemed properly delivered and received when and if either (i) personally .delivered; or {ii) one {1) business day after deposits with United Parcel Service or other overnight courier for next day delivery; or (iii) the same day when sent by confirmed facsimile before 5:00 p.m. (Eastern time). 9. Successors and Assigns; Third Party Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns under the Declaration of Reserved Rights. This Agreement shall not confer any rights or remedies upon any person or entity other than the Parties and their respective successors and assigns under the Declaration of Reserved Rights. 10. Conflict with Declaration of Reserved Rights. With respect to the subject matter of this Agreement only, if any of the terms or provisions of this Agreement conflict with., or are inconsistent with, any terms or provisions of the Declaration of Reserved Rights, the terms and provisions of this Agreement shall control. 11. Governing Law; Severability. This Agreement shall be governed by the laws of the State of Florida. If any term or provision of this Agreemen# is held to be or rendered invalid or unenforceable at any time in any jurisdiction, such term or provision shall not affect the validity or enforceability of any other terms or provisions of this Agreement, or the validity or enforceability of such affected terms or provisions at any other time or in any other jurisdiction. 12. Waiver of Trial b~-y. Each Party hereby waives its right to a trial by jury in any litigation or other court proceeding by any Party against any other Party with respect to any matter arising from or in connection with this Agreement. 13. Attorney's Fees. In connection with any litigation or dispute arising out of this Agreement, each party shall bear its ov<m attorneys' fees and costs, except as otherwise stated herein. I4. Entire Agreement; Amendments to Agreement. With respect to the subject matter of this Agreement only, this Agreement sets forth the entire understanding and agreement of the Parties hereto, and shall supersede any other agreements and understandings (written or oral) between or among the Parties on or prior to the date of this Agreement. No amendment or modification to any terms of this Agreement, or cancellation of this Agreement, shall be valid unless in ~~riting and executed and delivered by all of the Parties. 15. Facsimile; Counterparts. A Party may deliver executed signature pages to this Agreement by facsimile transmission to any other Parties, which facsimile copy shall be deemed to be an original executed signature page; provided, however, that such Party shall deliver an original signature page to the other Parties promptly thereafter. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which counterparts together shall constitute one agreement with the same effect as if the Parties had sib ed the same signature page. Page 4 of 5 IN WITNESS WHI;JREOF, the City; Developer and Escrow Agent have caused this Agreement to be executed and delivered in their names by their respective duly authorized off cers or representatives as of the day and _year first above written. CITY OF DELRAY BEACH, a Florida A~Iunicipal Corporation Nelson S. McDuff e, Mayor DEPOT FVDUSTRIAL CENTER, LLC, a Florida Limited Liability Company BY: THOMAS HEAD, Manager Page S of 5 Exhibit "9" Closing Escrow Agreement CLOSING ESCRO~'i' AGRI;ER'IF,NT This Closing Escrow Agreement (the "Agreement"), dated as of the day of 2011, between the City of Delray Beach, a Florida. municipal corporation ("City"), Depot Industrial Center, LLC, a Florida Limited Liability Company ("Depot"j and Listick and Krall, P.A., whose address is 190 S.E. 5`" Avenue, Delray Beach, Florida 33483 (hereinafter referred to as "Escrow Agent"). ~'4'I`I'NESSETI-I WHEREAS, City and Depot have entered into the certain Agreement to Exchange Real Estate dated the day of , 2011 (the "Exchange Agreement"}, as to the exchange of property in the proposed Plat of Historic Depot Square, Delray Beach, Florida; and WHEREAS, City and Depot have agreed and are desirous and willing that the closing of the transaction contemplated by the Exchange Agreement take place in escrow, in accordance with the terms and provisions of this Escrow Agreement. NOW, THEREFORE, in furtherance of the transaction contemplated b}~ the Exchange Agreement, and other good and valuable consideration, the receipt and Buff ciency of which are hereby acknowledged, the parties hereto hereby covenant and agrees follows. City and Depot hereby designate, constitute and appoint the Escrow Agent to receive, hold and release the documents for closing described in Paragraph 11 of the Exchange Agreement, pursuant to the procedures described in this Escrow Agreement and the Escrow Agent acecpts such designation and appointment and agrees to act in accordance with the terms of this Escrow Agreement. It is hereby expressly understood and agreed that in the event a conflict should arise as between the terms of this Escrow Agreement and those of the Exchange Agreement, the terms of the Escrow Agreement shall control. Depot agrees to pay to the Escrow Agent a reasonable fee, to be collected at closing, for expenses incurred by the Escrow Agent for its services hereunder (the "Escrow Agreement Fee"). Seller and Buyer agree (a) that Escrow Agent shall be a stakeholder only and not liable for any losses, cost or damages it may incur in performing its responsibilities hereunder unless such losses, costs or damages shall arise out of the willful default or gross negligence of Escrow Agent or its agents; (b) that no release of documents or disbursements shall be made hereunder except pursuant to this Escrow Agreement or upon written instructions from both City and Depot or their successors or assigns; and (c) that in the event of a dispute hereunder between City and Depot (or their successors or assigns), Escrow Agent shall have the right, exercisable in its sole discretio~i, to be discharged by tendering back to each party the documents they delivered or by tendering unto the registry or custody of any court of competent jurisdiction, together with any such legal pleadings as it deems appropriate. Escrow Agent shall be indemnified, saved and held harmless by the City and Depot for all of its expenses, cost and reasonable attorneys' fees, at trials and appeals, incurred in connection with said interpleader action, At closing each party shall deposit with Escrow Agent their respective unpaid costs described in the Exchange Agreement. 2 Documents for closing shall be delivered to the Escrow Agent and released pursuant to the terms and conditions of this Escrow Agreement. A. City shall deliver to Escrow Agent the following documents at closing. Quit-Claim Deed to City Parcel 1, City Parcel 2 and Parcel 3. 2. Resolution abandoning City Parcel 2 and City Parcel 3. 3. Such other documents as may be reasonably necessary in the opinion of City's counsel or Depot's counsel to constunmate the transaction described in this Escrow Agreement or the Exchange Agreement. 4. Executed Escrow Agreement. B. Depot shall deliver to Escrow Agent the following documents at closing Special Warranty Deed conveying Depot Parcel to City. 2. Affidavits and other documents required by the title insurer to delete. the standard exceptions from the title insurance commiUnent and owners' marketability title insurance policy for the Depot Parcel. 3. The executed and recordable final approved Plat of Historic Depot Square. 4. Declaration of Reserved Rights. 5. The Temporary ingress/egress Easement. 6. Recordable Work Force Housing Covenant. 7. Recordable Historic Depot Square Declaration of Covenants and Kestrictions and related documents. 8. Executed Escrow Agreement. 9. Such other documents as may reasonably be necessary in the opinion of City's counsel or Depot's counsel to consummate the transaction described in this Escrow Agreement or the Exchange Agreement. C. Upon receipt of all documents for closing, then Escrow Agent shall release the documents from escrow by promptly recording the documents on the same day, in the Public Records of Palm Beach County, Florida, in the following order: Resolution abandoning City Parcel 2 and City Parcel 3. 2. Quit Claim Deed to City Parcel 1, City Parcel 2 and City Parcel 3. 3. Historic Depot Square Declaration of Covenants and Restrictions and related documents. 4. Plat of Historic Depot Square. 5. Special Warranty Deed conveying Depot Parcel to City. The legal description shall be the metes and bounds description of the City Parcel and the legal description of the Depot Parcel based on the recorded Plat. The Escrow Agent is authorized to complete the plat Iegal description, in the Special Warranty Deed, upon recording the plat. 6. Declaration of Reserved Rights. 7. The Temporary ingress/egress Easement. 8. Work Force Housing Covenant. 3. In the event all documents are not deposited with Escrow Agent within One Hundred twenty (120) days after City shall adopt the resolution of abandonment and approving the Plat, either party may elect to cancel the Exchange Agreement by delivering written notice of cancellation to the other; in the event of cancellation the Escrow Agent shall deliver the unrecorded plat to City and return the remaining documents to the party that delivered them to Escrow Agent. 4. Escrow Agent shall not be liable for any loss or damage resulting from the following: 3 (a) Any default, error, action or omission of any other party; (b) The expiration of any time limit unless such time limit was known to Escrow Agent to proceed in its ordinary course of business: (c) Escrow Agent complying with any and all legal process, writs, orders, judgments and decrees of any court whether issued with or without jurisdiction and whether or not subsequently vacated, modified, set aside or reversed. 5. 1/scrow Agent shall be entitled to rely upon the instructions and other matters covered thereby, and shall not be required to investigate the authority of the person executing and delivering such instructions; or otherwise verify the accuracy of the statements of information presented therein. 6. The terms and provisions of this Escrow Agreement are for the benefit of City, Depot and Escrow Agent and their respective successors and assigns only. Nothing contained herein shall be deemed or construed to inure to the benefit of any other person or party, it being the express intent of City, Depot and Escrow Agent that no such person or party shall be entitled to any of the benefits hereof, except as herein expressly provided. 7. Time is of the essence of this Agreement. 8. This Agreement is intended as a contract under the laws of the State of Florida and shall be governed thereby and construed in accordance therewith. 9. This Agreement may be executed by facsimile signatures, which for all purposes shall be deemed to constitute originals. 'T`his Agreement may be executed in counterparts, all of which when taken together shall be deemed one original. 10. Paragraph 28 of the Exchange Agreement is incorporated herein and made a pari hereof. IN WITNESS WHEP.EOF, the parties hereto have executed this Escrow Agreement as of the day, month and year first written above. City of Delray Beach, Florida Municipal Corporation By: Nelson S. It4cDuffie, Mayor Date: (Buyer) 4 Depot Industrial Center, LLC a Florida Limited Liability Company gy; (Seller) THOMAS HEAD, Manager Date: Listick & ItiraIl, P.A. By: Michael Listick, Esq. Date: