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HomeMy WebLinkAboutDocumentation_Workshop_Tab 01_01/29/2009Memo To: Mayor/Council From: Michael R. Couao, J Date: 1 /27/2009 Re: Backup materials for Village Council Workshop 01-29-09 regarding Cornerstone/Preserve The following materials have been compiled and are presented for your consideration and use. The information is submitted as a representation of activities over the past ten years for the property currently know as The Preserve (owned by Cornerstone LLC). These materials are submitted as an overview of the site in preparation for your upcoming workshop. As directed, I have assisted Councilman Paterno (Council's representative) in discussions and negotiations with Cornerstone LLC representative Lenny Wolfe to pursue purchasing the property for the Village. As previously indicated I believe that serious review and consideration be given to the Village acquiring this property. In addition to the reference materials submitted, additional materials have been compiled including previous Village Council minutes. These materials are available for your review as needed. Please feel free to contact me if I can be of any assistance. v a O ~, ~ 4• { MEMORANDUM TO: The Hon. Mayor, Pat Watkins Village Council Michael R. Couzzo, Jr., Village Manager FROM: Catherine A. Harding, Community Development Director DATE: January 27, 2009 SUB JECT: The Crossings/Preserve Property, Mixed-Use Zoning District The Crossings/Preserve property consists of 9.32 acres, containing two parcels, No. 1 and No. 2 with a Unity of Title. Parcel No. 1 consist of 4.22 acres with ] 4.2 units per acre, l 8 units per acre allowed. The total number of units to be developed was 60. The plan provides for ] 86 parking spaces with 120 required. This parcel is undeveloped with the exception of the footings and infra structure for townhomes. Parcel No. 2 consist of 5.11 acres, total number of units 92, with 17.97 dwelling units per acre and a maximum of 18 units per acre allowed. The plan shows 184 parking spaces required with 200 spaces provided. There is an existing unfinished building on this parcel, designed for Assisted Living. The building has a one story grand entrance with 3 stories of living space that contains one and two bedroom units on the first, second and third floor. The first floor has a large lobby, Club Room, Sitting Room, Community Room, Dining Rooms, Kitchen and Parlors. Some what smaller common areas are on the second and third floors. The structure is built with 8 inch masonry walls and steel stud partitions delineating the units. The roof has a 3:12 pitch, wood truss system. The corridors are generally 6 ft. 8 in. wide. The building was built to meet our Flood Zone Standard of 18 inches above the crown of the road or 8.5 feet above sea level. Elevators were not installed in the shafts. The A/C units are separate for each room and are installed through the wall. All common areas are served by a central system. This particular feature creates an obsolete look to the building. The building generally conforms to the 2004 Florida Building Code as to H/C Codes and impact resistant windows. The roof and sprinkler system will probably need replacement. The courtyard in the center of the building floods and will require re-grading. None of the engineering certifications were signed off on the site work. The rooms are in various states of completion. The present condition of the site is acceptable with some issues unresolved as to soffits missing and generally poor overall maintenance of the building and property. In its present layout, the existing building would be best suited for aCondo/Hotel or Rental Units or as originally proposed an Assisted Living Facility. The size of the living units are scaled for assisted living and would not suit the current trends for market rate housing. The market for short term use is less demanding of living space. A Condo/Hotel would fit into the new trend of the condo purchase of a Residential Hotel. The present amenities and common areas would enhance any of the above uses. Respectfully submitted, Catherine Harding Community Development Director -.u~;. ~. CAH/mk O ~L L U d C ~J L d C L ° _0 t U d d d L a m s H fA .N W O t L L Q N cv C O Y 0 N Q ~ N ~ ~ ~ ~ ~ ~ C O O *' ~ C ~, ~ ~.,, ~ ~ 3 > c ~ ~ cv U •L~ a? 3 ~~ ~ a ~ ~ c n o a~ Q ~ ~ ~ ~ Q . ~ ° ~ N ~' _ ~ ~ ° a ~ ~ N to s ' O O- U N ~ w -p O U ~ ~ "p - N ° ~~ U _ ~ Q ~ O "p O O ~ .~ ~ 3 'X O U ~ .Q N N "O c L ~ ° N ~~ c = ~ 'a m ~ ~ Q ?~ ~ ~ ~ O ... ~. O X ~ U ~ ~ Q +~ O U U Q f~ "a N O ~ 00 O. f0 O m = U ~ •O ~ U ~_ U ~ C ~ ` ~~ ~ O ~ U `. 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O ~ O ~ Z O ~ ~ d .~ ~ .~ m fl ~ ~ o E _ •y ~ 0 ~ ~ :. , o Os O~ U ~ Z ~ ~ ~ c ~2 m ,v~ N ~ ~, ~o ~ c p ~ vv~ ~ ~ a~i . o C o N ~ N ' (~ • =~ O =~ o •C Z O C Cl`~ ~ O C ° ' a U ~ ~ ~ ~ O p ~U ° Z °'~ ~ E cad _ ° ' ~ U > G~ as > ° ' N o E L o ~ ~ O L ~ O N c W ~ v~ c W ~ ~ O~ o Q c~ o ~ H- mo o _~ O L ~ ~ 0 0 ~ ~ - ~ ~ W Ev O E m ~ O o cno ~-U Ua U ~a ~a t~ ~ N~QU ~ C)~ cu cnU . >D ~ V~ tn U ~ 0 ~n 0 ~n 0 ~ 0 co 0 o ~ ~ o ~ ti 0 ~ 0 ~ 0 o ~ ~ 0 ~ 0 0 0 0 ~ ~ N ~ ~ M r r O ~ ~ N ~ ~ ~ M ~ ~ ~ O 0~0 ~ r L ~ ~ 0~0 ~ ~ _ ~ ~ N ~ `Cr ~ cfl ~ O~ O c- ~ ~ ~ lf') N O c~- ~- .ATTORNEYS AT LAW III 1 Hypoluxo Road, Suite 207 JOHN CORBETT TRELAJ. WH[TE BRADLEY W. BIGGS•^ KEITH W D,4VIS" R. M.4x LOHMA\ MICHAEL B STEI\B4L M TELEPHONE (5611586-. I Ib TELECOPIER (961) 586-961 I ~ S[ate Certified County and Cireui[ Court Mediator " Board Certitied in City, Count} and L~xal Government Law ~IE~iORANDUIVi TO: Michael Couzzo, Village Manager ~ FROM: Trela J. Vb'hite, Esq. 1 r DATE: January 13, 2009 ' RE: Purchase of Real Property by Village; Legal Issues and Requirements Regarding the ability of the Village of Tequesta to purchase real property and the legal issues and requirements involved in doing so, I offer the following: 1. By the terms of Article IV., Sec. 4.01. of the Village Charter, the Village is vested with both the express and implied power to conduct all municipal business as provided for by Florida law. There is no language in the Village Charter or Code which would prohibit the Village from purchasing real property, and any such purchase could therefore be deemed to be within the realm of conducting municipal business. As such, subject to Florida law, the Village may purchase real property. Sec. 166.045, Florida Statutes, specifically provides certain guidelines to be followed by a municipality for the purchase of real property. 2. At the outset, any purchase of real property by the Village MUST be for a "municipal purpose." What constitutes a municipal purpose is a question of fact, and great deference is paid to the Village in making that factual determination. Any determination of a municipal purpose would have to be "clearly erroneous" (meaning that upon review of the facts and evidence it is obvious that a mistake was made) in order for a court to overturn such a determination. Sec. 166.021(9)(b) and (c), Florida Statutes, declares that the expenditure of municipal funds for economic development activities, including the development or improvement of infrastructure, the development of capital projects, the leasing of real property, and to attract and retain local business enterprises, are all municipal purposes. This list of statutorily identified municipal purposes does not limit the Village's home rule powers. ANY municipal purpose that the Village Council determines, whether or not it is enumerated in the statute and which is not clearly erroneous, will support the purchase of real property. 3. Once a municipal purpose has been determined, all offers, counter-offers and appraisals regarding the purchase of the subject real property must be made in writing, and the Village is obliged to maintain accurate and complete records of all such offers, counter-offers and appraisals. These written documents are exempt from public records disclosure requirements until an option contract is executed or, if no option contract is executed, until 30 days before a contract is presented to the Village Council for approval. If no contract is presented to the Village Council, the exemption will expire 30 days after the termination of negotiations. 4. If the purchase price does not exceed $100,000.00, the Village Council may decide to exempt the purchase from any appraisal requirements. If the purchase price does not exceed $500,000.00, the Village must obtain one appraisal from a state certified appraiser who verifies by affidavit that he has no vested or fiduciary interest in the subject real property. If the purchase price exceeds $500,000.00, two such appraisals must be obtained. In the event that the agreed purchase price exceeds the average of the two appraisals, the Village Council must approve the purchase with a "super majority" (4/5) vote. 5. Despite the public records disclosure exemptions discussed above, there are no exemptions to Sec. 286.011, Florida Statutes, (the Florida Sunshine Law) that apply to the purchase of real property by a municipality as outlined herein. As such, all Village Council discussion and action must occur "in the sunshine" even though the related documentation is exempt from disclosure on a limited basis. 6. The Village may decide to proceed in a different manner than that outlined above, however, any deviation from the above procedure eliminates the public records exemptions discussed in Paragraph 3, and all records associated with the purchase negotiations are then considered public records at all times. 7. Pursuant to Sec. 10. Art. VII of the Florida Constitution, no purchase of real property by the Village may be financed by a mortgage. Rather, financing may come by way of general obligation bonds which pledge the Village's ad valorem revenue, or financing could come from the pledge of a specific non-ad valorem revenue stream, such as lease payments from the real property itself. Keep in mind that any pledge of ad valorem revenue would first require approval of the voters of the Village by referendum. Should you have any other questions regarding this matter, please do not hesitate to call me. Y. dccs Teyu<sta Letters & Memc~sCouao Memo-Purchase Real Property-:009.cfoc ATTORNEYS AT LAW 1111 Hypoluxo Road, Suite 207 JOHN CORBETT TELEPHONE {561) 586-7116 TRELA J. WHITE TELECOPIER (561) 586-9611 BRADLEY W. BIGGS•^ KEITH W. DAVIS^ R. MAX LOHMAN ^ State Certified County and Circuit Court Mediator MICHAEL B. STEINBAUM ^ Board Certified in City, County and Local Government Law MEMORANDUM TO: Michael Couzzo, Village Manager CC: Mayor and Council FROM: Trela J. White, Esq. DATE: January 26, 2009 RE: Limitations on Uses for Cornerstone Property 1. In the fall of 2004, Cornerstone Group Holdings, Inc. ("Cornerstone") proposed to purchase the western portion of the Alterra property located in the Mixed Use ("MU") zoning district and on the northeast corner of Village Boulevard and Old Dixie Highway. 2. The property was encumbered by a Declaration of Use Agreement (the "Use Agreement") which was approved by the Village Council, executed on or about December 22, 1998 and recorded on December 30, 1998 at ORB 10846 P. 612. The Use Agreement recited that a Special exception for assisted living uses had been approved by the Village Council on September 10, 1998 and that the subject property was limited to independent and extended care living uses and imposed a unity of title requirement. 3. There was an existing assisted living facility known as Clare Bridge and a partially built independent living facility known as the Crossings located on the property. 4. Cornerstone wanted to demolish the existing Clare Bridge facility and build a townhouse project, completing the Crossings as full sized condominiums. 5. Accordingly, the Use Agreement had to be amended to allow the for the townhouse development instead of an assisted living facility and to allow Cornerstone to complete the partially built Crossings building as full size condominium buildings as opposed to independent living units. 6. This was accomplished by an Amendment to Declaration of Use Agreement (the "Amendment") which was executed May 15, 2005 and recorded on July 18, 2005 at ORB 18917 P. 0921. 7. The Amendment revised Article III of the Use Agreement by now restricting the uses to "only condominiums, town homes and amenities related to such uses... "; and the unity of title (Article V) was deleted in its entirety. 8. The Agreement granted express third party beneficiary rights to Meditrust and any successor in title to the Sterling House Facility; thus they have the same authority to enforce the terms of the Agreement as either of the other parties. 9. The Use Agreement as amended remains as a legally binding agreement and runs with the land. Such Agreement is binding on successors and assigns of all parties to the Agreement. 10. The Use Agreement would need to be revised or rescinded in order for the Village to put the property to other uses; and in order to change or rescind the Agreement, all parties would need to reach an agreement. Should you require additional information, please advise. Y:ldocs\Tequesta\Letters & Memos\Couzco Memo-Limimtions-Cornerstone-2009.doc 7 4020 I~IMNMII~N~11~~1111~1~ IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT ~ IN AND FOR PALM BEACH COUNTY, STAT E OF FLORIDA ~ CIVIL DIVISION - _ ~ ~ _ THE LACHLAN GROUP, INC. a Florida corporation, d/b/a J. McLAUCHLIN & ? ~ COMP Plai "ff, ~ ~ $ v. ~,Ll,~,,.'` t,~ ~`%' ~' a , CASE NO.: 50 ALS HOI° ~S ., ., .~NC etc et al 2001CA010770XXCDAI ~ ~ Def aat~ks: ~y WASHINGTON >,tiZ1~AL BANK, FA, a federal rn association, as s>'e by merger to Bank United, CERTIFICATE OF as agent for itself ~~ y or AmSouth Bank and U.S, TITLE i Bank National Associati,~ fJk1a Firstar ~ Bank Milwaukee, N.~f-'.~~ 8 ~ DefendantJCouniitie,~r'~},. ~intiff ~ and Cross-Plaintif~,r` ~ y ~. .~~] THE LACHI,AN GROUP, TNC~: Florida corporation, ~n ~ ~; ~: d!b!a J. McLAUCHLIN & CO1C~P , --~-,-~ ~ r - ~ Plaintifl}'Counter-Defendan t/y' ~ . ~: m ~.=~>- ~ o ~ } \.,~/~/ ( -and- ~ t; ;;Q., a ALS WISCONSIN HOLDINGS, INC. a.. ~ ware ~ ~ *' corporation; CLARE BRIDGE OF TE ` ;A.,L.P., a Delaware limited partnership; FLORID i~~ CAN, INC., a Florida corporation; and FERGUSON .Y, INC., a Florida corporation, .~ `:% ~; >'..~~, ~ 4`' `~~ Counter-Defendants, z,,, _ ---and- - ~'4 i , ALS HOLDINGS, INC., a Delaware corporation; A~~~A HEALTHCARE CORPORATION, a Delaware corpii~'~ion, f/k!a Alternative Living Services, Inc.; M. TAYLOR & ,, . DAILEY AND ASSOCIATES, INC., a Florida co r x~ :'. STUART PAINT & SUPPLY, INC.; a Florida corporati ~` ~ ~ '? °~~~ 1 MASCO CONTRACTOR SERVICES CENTRAL, INC., a.::::''{~ Florida corporation, f/k/a AMERICAN ALUMINUM & ~ J'~,_ ") ? 1 J't`,~ r f INSULATION FIREPROOFING CO.; L & W SUPPLY '~ ~.-•j~r''N CORP. d/b/a SEACOAST SUPPLY; HARWIL FIXTURES, ~,~.' ~-,,.-~,.. LP 14570 1706 r5 Book16646/Page1127 Page 1 of 15 4020 THE LACHLAN GROUP, INC. a Florida corporation, d/b/a J. McLAUCHLIN & COMPANYr, IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT ~ ° ~ IN AND FOR PALM BEACH COUNTY, STATE OF FLORIDA ~ ~+ ~ CIVIL DIVISION '~ ~ ~ v. ALS HOl~f~S~NC., etc., et al, ., z. / ~ ~ 08 8(\~ V i 1 N l /~J WASHINGTON )tiII~AL BANK, FA, a federal rn association, as s!e by merger to Bank United, CERTIFICATE OF as agent for itself ~~j~r AmSouth Bank and U.S. TITLE Bank National Associates f/k/a Firstar ~ Bank Milwaukee, N.~q-'~ j~ ~ Defendant/Counr,;P~~intiff ,~„i and Cross-Plainti t`` :•' ~, ~`,-- ,.,,~ n ~~ ~ V. `~ r' .~ ~G '~" ~~ C7 Ra ~~ THE LACHLAN GROUP, IN d/b/a J. McLAUCHLIN & CO Plaintiff/Counter-Defer ---and--- ~~rr~rrirrr~~rrNrrr~~~r~rr~r~~r ~~! ~~ . }~ .. ~$ a CASE NO.: 502001CA010fifi0XXCDAI O 0 -~~ry~` corporation °' ° _ -: - ~ ~ ?1 ~~,. ~ --~-, ~; .~ r-- -, v' -~:: ~_ rn <~_-; ~~ ~ o 4 Q ~~~~ ~~ laware ~ ~ ., a K, INC., ~Y, INC., a Flarida corporation, "..~ ~ ~~.~,,f Counter-Defendants, ~ ~' F~... ~~ ---and--- ~` ALS HOLDINGS, INC., a Delaware corporation; ~~ ~ HEALTHCARE CORPORATION, a Delaware co `~ 'on, f/k/a Alternative Living Services, Inc.; M. TAYLOR & DAILEY AND ASSOCIATES, INC. a Florida co ~r~``.,, STUART PAINT & SUPPLY, INC.; a Florida corporation;' ~sA? MASCO CONTRACTOR SERVICES CENTRAL, INC., a: ~~;~~ Florida corporation, f/k/a AMERICAN ALUMINUM & ~, ~-%"`"> s INSULATION FIREPROOFING CO.; L & W SUPPLY '= 4~=={ `10 CORP. d/b/a SEACOAST SUPPLY; HARWIL FIXTURES, •~;~`N, ~, ALS WISCONSIN HOLDINGS, INC `;,,ya„ corporation; CLARE BRIDGE OF TEQ~ Delaware limited partnership; FLORID a Florida corporation; and FERGUSON LP 14570 1705 ~S Book16646IPage1127 Page 1 of 15 INC., a Florida corporation; SULLIVAN BROS., INC., a Florida corporation; MIROMA, INC., a Florida corporation; EAST COAST SUPPLY CORP., a Florida corporation; MASTERS PLUMBING, INC. OF MARTIN COUNTY, a Florida corporation; DR,AWDY BROTHERS CONSTRUCTION, INC.; OLYMPIA POOL CONSTR TION CORP., f/k/a OLYMPIC POOL SERVICE RP., a Florida corporation; CAROL'S CUST WORK OF TAMPA, INC., a Florida corporation;' SHERWIN-WILLIAMS COMPANY, an Ohio co ,end ACOUSTI ENGINEERING COMPA~~4L~LORIDA, a Florida corporation, CiroSS~~-D~SlantS. ,i ti. +_i ~; CERTIFICATE OF TITLE t, ~~} _~ a ~~,... ~' ~ x c°-`. -.- ~ ~, . r=- ~ r-- ~ d ~~ ~ .~ rv The undersigned,~iierk of the Circuit Court certifies that she executed and filed a Certificate of le~ this action on February 19, 2004, for the real and personal property desc ' ~ =0~}7 Exhibits "A" and "B" attached hereto and that no objections to the sale ~(`~~e',:lagen filed within the time allowed for filing objections. The real and personal prop~escribed on Exhibits "A" and "B" attached hereto located in Palm Be~h County, Florida, was sold to the assignee of Plaintiff, HCP PROPERTIES OF FLO ,yINC., a Florida corporation, whose address is c% Commercial Real Estate Asset' nagement, 3200 Southwest Freeway, Suite 2630, Houston, Texas 77027. ~~f '... yyr,,.. WITNESS my hand and the ~'~ this Court on this 9th day of March , 2004. ~.:~~~`~~~ '~•~DOROTHY H. WII.~ /i of ~~E„ ~ lark of the Circ County w~~-' .. , '~ t,',..~ ~~ ~ ~ f~', ~,~~, t~ Copies to: ARCH ooU~ ~~~..-~, AlI parties on attached Service List t r ,~ # 1698132 vl ~~~°`~SUZANNE ~HOLMAKER ~:~. r- ~ .`~;r'~ ~.%'"~ r ~ ,~~, ~~ •ti. .L.w ~ ~s, .~ .-, Book16646/Page1128 Page 2 of 15 EXHIBIT A PARCEL 1; A parcel of land~~~~ ~th@~Northwest Quarter of Section 30, Township 40 South, Range 43 East. Palm i3each County, Florida, being m ularly described as follows: Commence at the S~~~11~~~ ~'st comer of the Northwest quarter of the Noihwest quarter of said Section 30; thence bear North B9° 58' 00' Wes~'"aieng.ths~outh line of said Northwest quarter of the Northwest quarter, a distance of 393.86 feet to the Pdnt of Beglnnin ~ " ~' South i 7° 17' O7" East, a distance of 335.99 feet; thence North 72° 42' S3" East, a distance of 120.00 feel; uth 17° 17' 07" East, a distance of 370.00 feet to the intersection with a curve concave to the SotRh~st, having a y tja=of 725.00 feet and whose radius point bears South 25° 07' 29" East; thence Westerly along said curve, being the nld'rth right of way Ilse of V~lage Boulevard, through a central angle of 06° Ofi' S8", $ distance of 77.38 feat to the point of rev , ge'' tore of a curve concave to the Northwest, having a radius of 625.00 feet; thence Westerly, along said curve thro h angle of 23 ° 54' 56", a distance of 260.88 feet to the point of reverse curvature of a curve concave to t ~ ast, having a radius of 725.00 feet; thence Westerly along said curve, through a central angle of 15 ° 22' 20", a dist~#5`ce.ri~ 194.52 feet to the Easterly right of way line of Old Dixie Nlgttway as described in official Records Hook 6485, page `h~l'' Beach County, Florida public records; thence North 22° 4t' 5t" West, along said Easterly right of way line, a ~:~n a of 456.37 feet to the point of curvature of a curve concave to the Southwest having a radius of 7,679.44 feet; th Northerly along said curve, through a central angle d 03° 1 i' 35", a distance of 427.98 feet to the Intersection South line of the Northwest Quarter of the Northwest Quarter, thence, 5cxith 89° 58' 00" East, along said South If stance of 627.76 teat tothe Point of Beginning. The above property is now Parcel 2 of the AL5 I Plat Book 89, pages 108 through 111, inclusive, of Tequesta, according to the plat thereof as recorded in ds of Palm Beach County, Florida. PARCEL 2: Non-exclusive Easement for the benefli of Parcel 7 as bFe Meditrust Company, LLC, a Delaware limited IlabNity com filed December 30,1998, in Official Records Book 10848, over, under and across the land described as follows; Tracts and/or easements of land Tying In Section 30, Townshii House of Tequesta, according to the plat thereof, as recorded County, Florida, Public Records; said tracts being more partlc TRACT "8• f3eglnning at the Southwest comer of said Sterling House of Tequesta Pl. West line of said Piat, s distance of 185.28 feet; thence South 18° 56' t 7" Kcal Retention and Drainage Easement between BLARE BRIDGE, INC., a Delaware corporatbri, the purposes described in said instrument, Range 43 East, end being a part of Starting k 82, pages 102 through 104, Palm Beach ibed.as fdtows: North 17° f 7' 07" West, along the Stance of 82.03 feet to the point of curvature of a curve concave Northeasterly, end having a radius of 75.01 feet M Southeasterly along the arc of said curve, through a central angle of 29° 32' 29`, a distance of 38.67 teat to the t., ~pmpound curvature of a curve concave Northerly, and having a radius of 9.00 feet; thence Easterly along the a"rr;'Qf` curve, through a central angle of 85 ° 48' 17' a distance of 13.47 feet to the point of reverse curvature of a c , nrbde Southerly, and having a radius of 11.00 feet; thence Easterly along the arc of said curve, through a central ar~y~13°. 11 ", a distance of 21.84 fesrt to the point of tangency; thence South 21 ° 30' S1" East, a distance d 6.37 feet io a,.~oiritfi inciter referred to as "81 "; thence continue South 21 ° 30' S1 " a d istance of 23.4'~J feet; to a point on a curve cbflcev8~"'S"o rtheasteriy, and having a radius of 725.00 feet; saki print being the intersection with the North right of way line of Village Boulevard, and whose radius point bears South 21 ° 30' 51 "East; thence Southwesterly along the arc of said curve arxt North right of way fine, Book16646/Page1129 Page 3 of 15 Exhibit"A" (continued through a central angle of 03 ° 36' 39" a distance of 45.69 feet to the Paint of Beginning. AND ~~ ,.~ TRACT "C" ~3 '~~,,, Tract "C" of sa ~~ r House of Tequesta, according to the saki plat thereof, as recorded to Plat Book 82, pages f 02 thru 104, said Pal1~~~ t;bunty, Florida, Public Records. -~.. ,,.. .-~.. AND '~•;- (;J~ t~~~ ;~~ ~7 TRACT "D" Tract "D" of sak! Sterling ~~ '~equesta, according to the said plat thereof, as recorded in Plat Book 82, pages 102 thru 104, said Palm Beac~r, Florida, Public Records. AND `~,% TRACT "E` ~ .~"~.~ -';;, t ,r t~:~. ~' Tract "E" of said Sterling House of Tcording to the said plat thereof, as recorded in Piat Book 82, pages 102 thru 104, saki Palm Beach County, Fl~or~$~ Public Records. AND r~ ~~ ~i TRACT "F' Tract "F' of said Sterling House of Tequesta, acc'gFt~t~`_tP the saki pint thereof, as recorded in Piat Book 82, pages 102 thru t 04, saki Palm Beach County, Florida. Public ~~. ~~.,,tir;ti~ . AND ~--'~4; ._, \~{ A TRACT "G" s.,~ ..., \.7 Jl ^` f A Beginning at the Northwest corner of the said Sterling Hou ~eC}u@~ta Plat; thence South 88 ° b8' 00" East, along the North line of sold Plat, a distance of 12.82 feet to the Point of eginii~~:` Thence continue South 139° 58' 00" East, along the said North link, , West, a distance of 5.00 feet to a point t>arsinafter referred to as' of 51.00 feet to the point of curvature of a curve concave Northwest , i Southwesterly along the arc of said curve, through a central angle tangency; thence North 89° 58' 00" West. a distance of 16.35 fear, to a`~ radius of 109.00 feet, and whose radius point bears South 55° 22' 3T Wi curve, through a central angle of 28° 29' 41" a distance of 54.21 feet to a continue Westerly along the arc of said curve, through a central angle of said curve; thence North 00° 02' 00" East, a distance of 36.99 feet to the AND TRACT' "H'. ~ of 105.58 feet; thence South 00 ° 02' 00" continue South 00 ° 02' 00` West, s distance wing a radius 25.00 feet; thence 00" a distance of 39.27 feet to the point of on a curve concave Southwesterly, having a tr'~ce Northwesterly along the arc of said rtt'-ereinaiter referred to as "G2'; thence ~f~ ~." a distance of 2b.41 feet to the end of . ~ ,~ .~ ~~ Tract "H' of sold Sterling House of Tequesta, according tothe said plat thereof, as recorded in Qtat Book 82, pages 102 Book16646/Page1130 Page 4 of 15 Exttibit'A" (continued ) thru 104, said Paim AND TRACT "1 ° ~''3 ~~ :ti.. Commenting at t~e West line of said Plt ch Counry, Florida, Public Records. comer of said Sterling House of Tequesta Plat; thence North 17° 17' 07" West, along the of 262.47 feet to the Point of Beginning. Thence continue Nort17.~ 17' 07` West, a[ong the said West line, a distance of 107.54 feet; thence South 72° 42' S3" West, continuing along the botfnde~y line of said Piet, a distance of 71.66 feet; thence North 29° 14' 02` Ease, a distance of 38.41 few; thence No t~,.° f 1' 42" East, a distance of 16.65 feet to a'paint on a curve concave NoRherly, and having a radius 90.00 feet, and ~~s point bears North 09° 31' 41"East; thence Easserlyaiong the arc of said curve, through a central angle of Ord,, ~"'26" a distance of 13.39 feet to the end of said curve; thence South 68° 59' 45' East, a distance of 49.71 feet to a polnf an a ~trvs concave Southwesterly, and having a radius 15.00 feet; thence Southeasterly along the arc of said curve, th tral angle of 76° 12' S3", a distance of 19.95 feet to the paint of tangency; thence South 12 ° 46' S2" East a of 6.26 feet to a point hereinafter referred to as "I1 "; thence cantinas South 12 ° 46' 52" East, a distance of 5.45 fast, oath 77 ° 13' OB" West, a distance of 23.17 feet to a point on a curve concave Easterly and having a radlu~~f 24,00 feet, and whose radius point beats South 71 ° 03' 49" East; thence Southerly afong the arc of Bald curve, ifiro' A'~'Central angle of 32 ° 59' 30", a distance of 13.82 feet to the point of tangency; thence South 14° 03' 19" Ea distance of 90.04 feet to the Point of Beginning. AND ~~ ~j TRACT "J" ~` Commencing at the Northwest comer of the said ~I~r the West line of said Plat, a distance of 217.7064 feet,:fQ' of Tequesta Plat; thence South 17° 17' 07" East, along of Beginning. Thence North 71 ° 03' 01" East, a distartcs of 17.53 feed~ ttrp~lrit hereinafter referred to as "J 1"; thence cottinue North 71 ° 03' O1" East, a distance of 17.00 feet t0 a point on a~tt ''~gncave Northeasterly, and having a radius of 90.00 fast; and whose radius point bears North 71 ° 17' 29" East; them ~asteriy along the arc of saki curve, through a central angle of 24° 13' 19", a distance of 38.05 feet to the end of rrte ~t{aence South 12° 11'29" East, a distance of 16.68 teat to a paint of curvature of a curve concave Northwesters ,hayir'I~,a radius of B.00 feat; thence Southwesterly along the arc of said curve, through a central angle of 131 ° 252" ~~lis~ance of 13.76 feet to the pointy of tangency; thence North 60° 45' SB" West, a distance of 7.20 feet to the poi~~oif~~tature of a curve concave Southerly, and having a radius of 4.00 feet; thence Westerly along the arc of said curve, tiro }a central angle of 90° 00' 00", a distance of 628 feet tv the point of tangency; thence South 29° 14' 02' West, a~ q~,28.85 feet; thence North 17° 1 T 07" West, a distance of 70.41 feet to the Point of Beginning. ~ ~ ~~ Together with a 10' drainage easern~tt located within the saki Sterling N~ittse~~equesta Plat; the c~ntetfine of said ALSO easement beginning at the aforementbned Point "61 "; thence North 72° St, slang Bald centerline, a distance of 40.02 feet to the intersection with said Tract "H', according to said Sterling T s4;pf Tequssta Plat. ALSO C_~ •f#' `~NJI•J~~ Together with a 10' dratnage easement located within the said Sterling House ~ u~ Plat, the centerline of sad easement beginning at the Northeasterly comer of said Tract "C", according to~af;,. tyre North 13° 09' 54" West, along said Certtetf Ins, a distance of 24.01 fast to the intersection with said Tract "D' a~ccfi~r_.~ to said Sterling House of Tequesta Plat. ~`~ "" Book16646/Page1131 Page 5 of 15 Exhibft'A" (continued} Together with a i~rainage easement Located within the said Sterling House of Tequesta PEat; the centerline of Bald easement beginni `fit the Northeasterly comer of said Tract "D"; thence North 07° 12' 17" East, along said ceMedine, a distance Of ip.7 f~to the interserticm with ssilri Trnnr "~' snnnw•Ilnn s., eta e.sa~..,. u........ ~rT.;_.._~_ d_- ALSO --' ~' ",.~`~ Together with a 1 ~~di~fi~`~ge easement located within the said Sterling House of Tequesta Plat; the centerline of sad easement beglnning~af i p~orementlaned Point "G1' ;thence South 89° 58' 00" F..asi, along said centerline, a distance of 49A5 feet to the inter~~gt~ b~vvith sad Tract "F', according to said Sterling Mouse of Tequesta Plat. L ALSO -' `~• ~~ ~ Together with a 1 p' d rainag~ tent located within the said Sterling House of Tequesta Plat; the centetline of said easement beginning at the afor~mentloned Point "J1"; thence North 25 ° 23' 2T' West, along said centerline, a distance of 35.86 feet; thence North 13° 17' ,continuing along said centerline, a distance of 127.44 feet to the intersection wfth said Trail "G", and the poi nation at aforementioned said Point "G-2". ~~___~, ALSO (,~ ~~ ti~:~ ; --~ Together with a 1 p' drainage easemehf I within the said Sterling House of Tequeste Plat; the centerline of said easement beginning at the aforementEcrr~nt "I1'; thence South 82° Ot' 47" East, along saki centerline, a distance of 23.53 feet to the intersection with sak! Traci' orciing to said Sterling House of Tequesta Plat. ~~ ~ NOTE: SterlMg House of Tequesta as record~in Plat Book 82, pages 102 thru f 04, indusive, has now been replatted and now is Parcel 1 of ALS PLAT OF VILLAGE OI=~~F~F'.'$d,~STA, as recorded in Piat Book 89, pages 106 thru 111, inclusive, Public Records of Paim Beach County, ` h PARCEL 3: Non-exduslve easement for the baneftt of parcel l es cry between Medltrust Company, LI.C, a Delaware limited lie corporation, filed December 30, 1998, in OfficEal Records instrument over, under and across the fend described as A parts! of land Iying,wRhin the Piet of Sterling House of Tequesq Publ~ Records of Paim Beach County, Florida, more partlcularfy king, Ingress/Egress and fJtliltles Easement thy, and ALS-CLARE BRiOGE, INC., a Delaware 5.gt page 169, for the purposes described !n saki .. ,. ~t '~;.% ded in Plat Book 82, pages 102 thru 104, as follows: Begin at the Northwest comer of said Plat of Steding House of Tequ ~`8outh 69° 58' 00' Ease (bearing base), along the North Ane of said Piet, a distance of 127.29 feat; thence So r ' 00" West, a distance of 86.50 feet; thence South 24° 19' OS° West, a distance of 82.26 feet; thence South 17° 20' East, a distance of 47.53 feet to the point of curvature of a curve concave to the Northeast, having a radius of 70.00 feet; Southeasterly, along said curve, through a central angle of 83 ° 50' 54", a distance of 11)2.44 feet; thence N h~ti76 ~._al8' 11 ` East, a distance of 82.22 feet; thence South 12° 46' S2° East, a distance of 172.56 fear thence South 20° 3 t",~ , e distance of 130.62 feet• thence South 32 ° 31' Ot " East, a distance of 110.18 feet to the intersection wkh the Nor of-way line of VBlage Boulevard {South sine of said Plat), being a cuNe concave to the South, having a radius of ~~filet anti whose radius point bears South 18° 38' 00' East; thence Westerly, along said curve, through a central ar~le'• ~ ~9' 32", a distance of 82.15 feet io the intersection with the West line of said Plat; thence North 17 ° t T OT West;~!N~Sard'~Mest tine of the Piet, a distance of 370.00 feet; thence South 72° 42' S3' West, along said West line of the P.~at, a'' nca of 120.00 feet; thence North 17° 17' 07" West, along said West line of the Pfat> a distance of 335.E feet tom. Beginning. .~. __ Book16646/Page1132 Page 6 of 15 1;XNIDIT B PARTI Th~ersonalty, the Leases and Rents, any Contracts of Sale cad alt Condemnation Awards and any in,S~ra~ce proceeds payable with respect to any Casualty. 5:i'('~ or pies of this PART I, the following terms shall have the following meanings: ~~.-~!~ cunt," individually, and "Accounts;' collectively mean with respect to the Debtor pe,~.o the Property, all presently existing oz hereaRer acquired or created accounts, accounts rec~ ~`rontract rights, notes, dzaRs, instruments, acceptances, chatte] paper, looses and writings evide~sg ~a monetary obligation or a security interest in or a lease of goads. all rights to receive the payment o.f'nibi ey or other consideration under present or future contracts arising out of ~ or relating to all ory'r 'on of the Property (including, without limitation, all rights to recei ve the ~ payment of money o~~~"considcration from, or on behalf of, anyprivate pay patient), or by virtue of services rendercri,'lo~as and advances made or other considerations given, by or set forth in, or - arising out of, any pr ~~` future chattel paper, note, deaf;, lease, acceptance, writing, bond, insurance policy, instzvn~~cument or general intangible, and all extensions and reacwais of any thereof, all rights under or~~~~out of presetnt or future contracts, agreements which gave rise to any or all of the foregoing ofat;:~s they pertain to the Property, including all claims or causes of action now existing or hereaf~e's~g in connection with or seder nay agreement oY docurneni or by operation of law or other•tr,~se, all collateral security of any kind (including real property mortgages) given by any person w~;t~ a ect to any of the foregoing, including, without limitation, all rights to receive payment of mo~ ~ other consideration from, or on behalf of, any private pay patient, all rights to receive paym~i:frCs under all Resident Agreements, and all third-party payor contracts {including Medicare and Me paf'c~~o the extent permitted by Laws), including, but not limited to, the Veterans ,ddministrati~~ticipation Agreements, and any and aII dc~ository accounts {other than resident trust accour.+fs~~tt~~~ which the proceeds of all or any portion of such accounts may be now or hereafter deposit~~~il Proceeds of the foregoing. _, :, t„r °`~ ~::: .~ ,.. ~, f.... Ratt ~~ ~ ~~r. ~.i ~ ~,_• : ~t ~~ ~,~~~ ~r (V . r .~ ' r• Book16646/Page1133 Page 7 of 15 EXHIBIT B ~cont:inved? "Additions" means any and all alienations, additions, accessions and improvements to Property~s\ubstihi[iors ~~-erefor, and renewals and replac~eLS ihereoG ~ ,mil,,-;~~~asuatty~ means any art or occurrence of any rind or nature that results in damage, lass oi~de~'Ersc~t~ to the Property. E ~'" j~ha~el Paper" means a writing or writing's k3.ether presently existiAg or hereafter acquired o~ fe~1t~`~, ansing out of nr relating to the Propel-y, which evidences both a monetary obligation an ~a'sgt~{ity interest in or lease of specific goods; a.-tyreturned, rejected or repossessed goods covered~i~ ~,,ry such writing or writings and all procxis (in any form including, without limitation, aceouzts, co~ra~t rights, documents, chattzl paper, instrumznts and geaeral intangibles) of such returned, rc~.e~~or repossessed goods; and aII Procexcs of the foregoing. ~, , ~~ "Clairis~-#~~ s any liability, suit, action, claim,cemand, loss, expense, penalty, fine, judgment or other cost of an~l~jnd or nature whatsoever, inclncing without limitation, reasonable fzes, costs and expenses o~'~tf~ ys, consultants, contractors znd experts arising with respect to or in connection with the Pro "Condcn'~taiion~a~~ny taking of title, of rse, or of any other property interest to or in the Properly under the erci^ of the power of etrir~t domain, whether temporarily or per7nanentiy, by any Gavernment'al A' ority. or. by any ?::son. acting under Governmental Authority. `;,~~~, "Condemnati on Award' m any and all judgtierzts, awazds of damages (including, but not limited to, severance and conseque, d~riages), payn:eyts, proceeds, settlements, amounts paid for a taking in lieu of Condemnation;, ,.tk~r'compens~on heretofore or hereafter made, including interest thereon, and the right is reca~~de }~f~,game, as a result of, or in connection with, any Condemnation of the Property or threatened C~d~eition of ~e ?roperty. "Coniracs ofSak" means any contr~t or any interest therein, whether now or hcreafier exe~ Proceeds thereof, any funds deposited the; eunder to s~ obligations and the right, after the occ,u;ence of an payments due under any contracts of sale. 1PrCSale of all or anypart o rthe Property ~e,~iing, without limitation, all of the ~~'ka's~arce by the purchasers of their ~t~Pdefault, to receive and collect all .'p ~ ~.. ~J`l ~~ ~\~~ !1,~~ ~'~ l " th;~ ~ )'~ Book16646/Page1134 Page 8 of 15 EXHIBIT B (continued) "Equipment" means all equipment, machinery, furniture and fixtures and supplies of every nature, presently existing or hereafter acquired or created, used or usable in connection with the Property, together with all accessions, additions, fittings, accessories, special tools, and improvements thereto and substitutions therefor and al] parts and equipment whi he hebor not the to or which are necessary for the operation and use of such personal property, same shalldeemed to be affixed to real property, and all rights under or arising out of present or fvture,~on~~elating to the foregoing and all Proceeds of the foregoing. ~~ ~~ ~`% aeility".means, colleetiv~ly, one or more assisted living facilities, indzpendent _L-' living fact +' r a ~mentia care facilities for persons with Alzheimer's disease and other forms of mernory`i:~i%pat~r`!'nent, as the case maybe, located on the Property. "~ .-~'\ u .y._ r ~~(~e~~al Intangibles"means any and all genera3 intangibles of every nature, whc er presently existi ~'or hereat~er acquired or created, arising out of or relating to the Property, including without limitation ks, correspondence, credit fries, records, computer programs, computer tapes, cards and oep ~ rs and documents in the possession or control of the Debtor, claims (including without It ..,,,$afion all claims for income tax and other refunds}, chooses 'in action, judgments, patents, patent ly~epses, trademarks (txcluding the "Wynwood", "Crossings", "Clare Bridge", "Wovenhearts~t.~"~ ling House", "Villas", and "Sterling Cottage" trademark or tradename), trademark It es-(excluding any license to the Debtor for the "Wynwood", "Crossings", "Clare Bridge „f'rW~venheaxts", "Sterling House", "villas" or "sterling Cottage" emcnts, rights'in intellectual property, goodwill, as that trademarks or tradenames),1 ' risR ~~ gre term is defined in accordance wc'geTi~erally accepted accounting principles in effect in the United States of America from time to tune (ir~~ding aA goodwill ofthe Debtor's business symbolized by, and associated with, any and all t ,trademark licenses, copyrights and/or service mazks), royalty payments, contractual righ >~its as lessee under any lease of real or personal graperty, t is service names es~ice marks, logos, trade secrets, all amounts received literary ri~gh s, copyrigh , as as award in or settlement of a suit ' ticlat~nges, deposit accounts, interest in joint ventures or general or limited partnerships (but only W~:; ., ect to a general or limited partnership relating to the Facility), all Licenses to the extent and~c~t,the extent the same can be pledged or assigned in compliance with applicable law (whc ,y~~,not designated with izutial capital letters}, eratin A cements ~ ement Contracts, Participation Agreements construction petTnits, Op g gr ~ ~' d ed or assigned in compliance with to the extent and only to the extent the samet,,s~'n ~kt g applicable law {whether nr not designated with ~{~ ca~.ta{dettcrs), Management Agr'eerrtents and Resident Agreements to the extent and only to the~c~.ten~ same can be pledged or assigned in -3- t ~, ~. e ....r -.~.~ piSB9000Q3 DaUu 1076637.3 4 ..• ~,~ ~~/r fi V r ~~S s° T' 1 ~ ~L '1~~~ Book16646/Page1135 Page 9 of 15 EXHIBIT B {continued} compliance with applicable law (wtether or not designated with initial capital lerters), and all Proceeds ofthe foregoing. "Governmental Au4tiority" means any govcnunenta] or quasi-gavcrrtrnental entity, including, without limitation, any department, commission, baazd, bureau, agency, administration, service or other instrumentality ofany governmental entity. "lznpzovtments" means the Facility and all other buildings, structures and other now or hereafter existing, erected or placed on the Land, or in any way used in Et the use, enjoyment, occupancy or operation of the Land. `~-~`:r`" eats" means any and all notes, notes receivable, d.'~zfts, acceptances, and sinular insSE"e~titr ,Ats or documents, both now owned or hereafter created or acquired arising out of or relating ~~~l~e#~~cility (or any part thereof}. "Invezttot~" means a.-ty and all inventory ofthe Debtor and all right, title and interest of the Debtor iu,``~ud"`~ lI ofits now owned and hereafter acquired goods, merchandise and other personal property ~ d under aLy contact of service or intended for sale or lease arising out of or relating to the Fac'i~ity, including, without limitation, all supplies of anykind, nature or description which are used or co rn the Debtor's business and all documents of title or documents representing the same~rocceds sad products of rho foregoing- . \~r _`; " 3oint Ven~_e Liss" means, if applicable to the Facility, a lease between ALS Holdings, lrtc. and another entrt`-~~~ed as a joint vcature between Alttrra Healthcare Corporation or a Wholly Owned Subsidiasf~ d one or more joist venture partners and formed as a single purpose, bankruptcy-remote legal~~ to operate tht Facility. ~ Ci ,1 "Land"means the la~dcscribed inEM3IBIT A attached to ~,h~is financing statetncnt, tagether with (a) all estates, title inter '` tie reverion rights, increases, issues, profits, rights of way or uses, additions, accretions, sc i~udhid, gaps, gams, liberties, privileges, water rights, water courses, alleys, streets, passages, a'-ays,rrra~l~' ,licenses, tenerrtents, trar:chises, hcreditamcnts, appurtenances, easements and other rights~Rgbf~hereafter owned by the Debtor and belonging or apptrtaini,ng to the Land, (b} all Claims w c~,tt.~'tbe Debtor with respect to the Land, tither at law or inequity, in possession or in expec -read ~(c) all estate, right, title and interest of the Debtor in and to all streets, roads and public pl ~`' ed or proposed, now or hereafer adjoining or appertaining to, the Land. ~:, ~~;~', ~`"'- ' ,%y ~"~.......F `"~~ j~~ i~ ~~. +/~.-~ Book16646IPage1136 Page 10 of 15 EXHI13iT B {continued ) "Laws" means federal, state artd local laws, statutes, toles, ordinar_cas, regulations, codes, licenses, authorizations, decisions, injunctions, interpretations, orders otdecrees ofany court o- other G ~vcrnmental Authority having jurisdiction as may be in effect fzotn time to time. ~J;~-~~eases"means ail leases, subleases, license agreements and other occupancy or use agreert~t~ (wl~ er oral or written) including Joint Vrnture Leases and alJ Resident Agreements, rtew or he.~eaf`' existu7g, which cover or relate to the Property, together with all options therefor, amendmet~s,,th,~eto~.nd renewals, modifications zad guarazttees thereof, including, without limitation, sask~or securities deposited under the Leases to secure performance by the tenants of their oblig~,i5~r~~-t~;der the i,cases, whether such cash or securities arc to be held until the expiration oftnd:~ of the Leases or applied to one or more ofthe installments of rent coming due ^ Y,~,, a<~d all rents, royalties, i;satr~, income, profiu and other benefits arising from the Property. "Lieer'~~eans aay and all Iicenses, certificates of need, operating permits, frznchises, and othcr'tt~d'nses, authorizations, certifications, pertaits, or approvals, other than construction permits, issued~,~ ronbehalfof,anyGovernmental_Authoritynowexistingorat any ti;t7c hereaRer issued, with s to the aequisitioa, construction, renovation, expansion, leasing, management, ownership an `o,a~{lion of the Property, accreditation of the Property, and/or the participation or eligibi:ity forI ~a.~rttyr~gtion in any third party paymtnt or reimbursement programs to the extent tae Debtor is partt`t:p~' " to such programs (but specifically excluding any and all Participation Agreements to the e t required bylaw), any asd alI operating Iicenses issued by any state Goverru-ncntal Authority, any an .a~iGarrnaceutical lictases and other licenses related to the purchase, dispensing, storage, presc ' . }z/or use of drugs, medications, aad other "controlled substances," any and all licenses relatin the operation of food or beverage facilities or amenities, if any, and aLy and all certifieadans ahd ebt~ty far participation in Medicare, Medicaid, Blue Cross andlor Blue Shield, or any of the Ma~~~are ?Tans, private insurer, employee assistance programs ar other third party payment or rein~~cnt programs as the same may from time to time be amended; renewed, restated, reissued,l~`ed, supplemented or otherwise modified. "Managetnertt Agreement" means ~ ""agz,~.-,meat between ALS : ioldings, Enc. and Alters Healthcaze Corporation, relating to, amo ~ `t~?gs, the management and operation of the Property and certain other properties identifi , ~.eiii;;''~s the same may from time be amended, restated, supplemented or otherwise modifi .t` .=~ '~~' "Opera ling Agxeeta eats and Management Cor agreements previously, now or at any time hereafter at any aaa9 oooBJ D,Uas t0~58~7J -S- any and all contracts at,nd into by the Debtor with E ~~ I3 f.V .^. ~ )'~ ~. ~L _~r~...~-J Book16646/Page1137 Page 11 of 15 EXHIBIT B (continued) «r r respect to the acquisition, carstruction or renovation of a sign:fcant nature, expansion, ownership, aperazion, maintenance, use or management of the Proptrry or otherwise concerning the operations and business of the Proper.;, including, without limitation, any and all serrce and maintenance contracts, any employment contracts, any and all management agreements, other than the Management Agreement, any ,and all caasulting agreements, laboratory servicing agreements, pharmaceu tc~contracts,physician, othercliniciar.orotherpzofessionalservieesproviderrantraets, food ~db~~e service contracts, and other contracts for the operation and maintenance of, or provisita~ of s€~ es to, the Property, as the sama may b-om time to time be amended, restated, supplemeA,;~ewed or madified. ~~ ~ •e.: ;~` ~.~,=,~atyticipation Agreements" means any and all third patty payer participation or reimbursemei~~ents rower at any time hereafter existing for the benefit ofthe Dcbtorrelating to righu to pay~a~etzf or reir:lbursement from, and claims against, private insurers, Managed Care Plans, maternal etriployee~a.~sistanceprograms, Blue Cross and/otBlue Shield, federal, state and local Govemrnenta] Au ~ including without limitation, Medicare and Medicaid, a.nd other third parry payers, as th~~:sy from time to time be amended, i-estatcd, extended, supplemented or modified. ~ `~ ` ,,, .~ .. "Person" "Y ``~an individual, a corporation, a partnership, a limited liability company, a joint venture, a~r~~" unincorporated association, any Governmental Authority or any Olher entity. r ,r' "Personalty' me8^al:'of the Debtor's interest in personal property of any kind or nature whatsoever, whether tangible o- tangible and whether now owned or hereafter acquired, which is used in the corsstn:ction of ''aced upon, or is derived from or used in connection with the maintenance, use, occupancy or a +a ent of, the Property, including, without limitation, (a} the Equipment, (b) the Accounts, (c) all Lace e~..~o the extent and only to the extent the same can be pledged or assigned in compiianec with a g'(iea,~9e law (whether or not designated with initial capital fetters} and all Operating Agreements aild= gement Contracts, (d) alI General In:angibtes, Chattel Paper, Instruments and Inventory, ~e~~~h respect to the Property, any and aII plans and specifications, contracts and subeontracu for traction orrepair ofthc Improvements, sewez and water taps, allocations and agreements 1~ es~bonds, permits, licenses, guarantees, warranties, causes of action., judgments, Claims,t~or l~,~stt:tnlty deposits, utility deposits, rcfwnds cf fees or deposits paid to any Goverr..:.ental Aut~~~rE' y~~s~ of credit and policies of insurance; together with all Additions to the Personalty astd Pr~Grd~sIheit,~of. ";' 04889 00085 Daitu 1076817.3 ,~ ~'"'1 ;,,}~ 1 {~,,r'',,y f ,~~ ~+ ,N •'~ ~:,,,,~,~1 ~.,~_.._.-ate Book16646/Page1138 Page 12 of 15 EXHIBIT B {continued) "Proceeds" means alI proceedswithin the meaning oftheUnifatzn CommucialCodc and shall also include the proceeds of any and all insurance policies. "Property" means the Land, the L*nprovcments and the Personalty, and all Additions to, and Proceeds of; all of the foregoing. \`Rcnts' means alI of the rents, royalties, issues, profits, revanucs, aamings, income ~~~ and atyb'ene$~.,of the Property, or arising from the use or enj oyment o f the Property, or from any Lease oil otitc;'L?aE'or occupancy ag: cement peztaining to the Property. 1i t.~' ' i~`,r-'`~$~s{~ent Agreement" or "Resident Agreements" means anY and atl contracts, authorizatio ate. ents andlor consents executed by or on behalf of any resident or otherperson ~.. ~ ~' seeking servu~5 ~ the Debtor pursuant to which the Debtor provides or fumishcs health or assisted Iiving''caze and c5lated services at the Property, including the consent to treatment, assignment of payt t~rr~,;i~bene6ts by third party, as amended, restated, or substituted from time to time. ~4, j~`1 "Wholly Owned Subsidiary" or "Wholly Owned Subsidiaries" means one or more subsidiaries 100% owne rraHealthcare Corporat:onwhieh is orhas been created for tl4.e sole purpose of acquiring, con tea, owning and operating the Facility. ''' " ``, f t`~ ,r ~~ ! RT -~ ~ 'U All right, title and interest o~ ~~ ebtor in, to and under the Agreements to the extent and only to the extent the same can be ~l¢~'~` or assigned in compliance with appticablt law (whether or not designated with initial capita~ttets), together wZih all rights, privileges and endtlcments thereunder and all cash and non-cash p~d~ee~ds thereof including, among other things, all of the Debtor's rights to the payment of Servidc~.~}ir`sf,$es and ail other rights and remedies under, and in connection with, any and all Resident Agre~}xan'~51, hereafter executed and delivered to the Debtor, including, without limitation, the rights to eq~or`c~~,~ollxt and liquidate any such Service Criarges, Per purposes of this PART II, the "Agreements" means collecti Resident Agreements. o4ea9 oooas n.nu to~ea»3 1 have the following meaningY: 1 e .ts~3LSes, Participation Agreements and ~~~;. .~ .~~~„~ ~~J~t•`a.f~, k. ti Ay f n (~ JO Book16646/Page1139 Page 13 of 15 ..~ ... EXHIBIT B {continued) "Facility" means, collectively, one.or rnorc zssisted living facilities, independent living facilities or a dementia care facilities for persans with Alzheimer's disease and other forms of memory impairment, as the cast may be, located or: the real property described in E ~ IT A atiac:•te~ to this "Govt;-nmental Authority" of "Gove ;tmental Authoritios" means any nation or governrten y stare or other political subdivision hereof and any amity exercising executive, legis: ~tij~ 'al, -egulatory ar administrative functions of or pcrtaining,ro goverruztcnt. ;L_--,.~ ceases" means arty and all licenses, certittcates of need, operating permits, operating ~ ~•tiscs, and other Iicenses, gove.-n.-ncntal autborizaiions, certifications, permits andapprova~~i r by, oronbelialfof,anyGovernmeatalAuthority,noworhereafterexastingwith respect to tae~a~i~i~on, constriction, rerovalion, expansion, leasing, ownership ane"or operation by the Debtor o>te~~"acility~including (without li>ititation) if and as required byany Governmental Authcrity any and all op'e~~tng licenses, pha.-maceutcal licenses and other licenses telated to the purchase, dispensing~,,,;s~ e, prescription andlor use of drugs, medications and other "controlled substances", and any arid a l~.fvtceascs issued by any Govemmental Authorityrelaiing to the operation of food a.7d beverage fities_ and/or other amenities. "Participatil~tt'. tmcnts"means any zed all third party payor participa~on and/or reimbursement agreements r ~ '~~t~a,the care ofresiderts located at and the operation ofthe Facility previously, row or hereafter, aLt~y..tiriie existing relating to rights to payment and/or rein',burserneni from, znd c:aims against, govei'n;~and private insurers, including rig'uLs to payment and/or reimbursement tiom, and cIairns ag~tast, federal, statt and local Govctnrnental Authorities, andlor private orquasi-public insurers, includi ~ithoutlim:tation, rights and claims relating to Nfedicare, Medicaid, Veterans .Administration, q''~~private insurers, as the same may from time to tune be amended, restated, extended, surpleme d or modititti. "Resident Agreer,ent" or "F~esidtrri resident services between the Debtor and eacti'~elaic and will ag'ee to: provide certzirt assisted livt,~, related services at t,'~e Facility, for which each' profcssicr_al services rendered by the Debtor (co with, a.•tC s•~bject to the terms and conditions of, a r.ements" rxans one ar more agreements for o: the Faci 1 ity i.n which the Debtor has agz~eed 'cis, independent living services and o ihet ~aat, will pay certain Service t~arges for a~e1~ t~r "Service Cha.-gts") in aocordanct `~. .~ J ' % ...~ ~'. s'F f ~t ~V .h ~ ~' :...-• t..~,..o ~r> Book16646/Page1140 Page 14 of 15 i r EXHIBIT B (continued) .... ~.. PA III Aff of Debtor's right, title and interest in, under and to any and all contracts and ageementS previously, now or hereafter at any time executed and delivered by the Debtor with respect to the acquisition, operation, maintenance, and management of the assisted living facilities, independent ]iving f ties or a dementia care facilities far persons with Alzheimer's disease and other forms of me~ pairmcnt, a5 the case maybe, located on the real prop~tty described in EXHIBIT A att~'~$ tom ftnancing statement (collectively, the "Facility"), or otherwise concerning the oper~t`ons'° business of the Facility, including, without limitation: (i) any and all ageements entereti`,~'n`, f `th~Debtor in connection with the operation of the Facility {hereinal3ez collectively referred ~"~t~``~`'Operating Agreements") and (ii) any and all service and maintenance contracts, any and a'11~:~nlgyrttent contracts, any and all marragemertt contracts; causulting agreements, medical servyr.~ ~reements, iransferagreements, laboratory servicing agreements,physician, other clinician or other profFss'~nal services provider contracts, resident a~cements, food and beverage service contrac ,get`" aceutical contracts and all other contracts for -the maintenance of, or provision of serve `~3 e Facility, and incl uding, but not limited to, any lease agreement relating to, among other thir~~ s;`the management and operation ofthe Facility (with any and all amendments thereto, extension thereof,,,~~ substitution therefor, the "Management,Agreeraent"), byand between ALS Holdings, Inc. anh HcaIthcare Coporatian (a11 as amended, restated, supplemented or modified, collectively thd+,,; ~,r.cts" and sing:larly, a "Cor:t3act"), togethc: with all cash and non- cash proceeds tacreof. ~~~ ,-~,';~ ~, ~~, ~ ~, ~~i ~ ~}~~' !/ ..~: l ~~' f a,ti'~`~ ` { .i it / > ~ - r ~ i.i ~,~°;~= f -9- %~,) Oi689 00065 Ihtlu i"v76837.3 ~.--•~ ~4j `~ ~. ~ ;~ "'` ,~ .,,~ Book16646/Page1141 Page 15 of 15 I~~~~~~~~~~~~1~1~~~~1~ This instrument prepared by (and return to): Klein Rennert Vogel & Mandler, P.A. east 2nd., Street, Suite 2900 rida 33131-2130 n Propert~~4`~~raiser's Parcel Identification Nu~ber(s) -~;, ~~~ CFH 2O1a41a69'3'36b OR Bti 171374 PG 147 RECORDED l:t/1~/2N4 12:31:25 Pal• Beach County, Plaride Al4T 5, 0N, B~. 8f~ Doc Steap 3S, A~@. 08 Dorothy H Ifilken, Clerk of Court Pge 1473 - 1484; (i2pgsf SPECIAL WARRANTY DEED The Grantor, HCP j'~,OPERTIES OF FLORIDA, INC., a Florida corporation, whose mailing address is c/o Vet`` fiyh ton Mutual Bank, FA, Commercial Real Estate Asset Management, 3200 Sou `~ eway, Suite 1707, Houston, Texas 77027, in consideration of ten dollars and other valua b~ car~sideration received from the Grantee, hereby grants and conveys to the Grantee, CO ~ ~ ONE TEQUESTA, L.L.C., a Florida limited liability company whose mailing address is c/o Cornerstone Group, 2121 Ponce de Leon Blvd., PH, Coral Gables, FL 33134, the real propgr~rlPalm Beach County, Florida, described on attached Exhibit 1. ~{~s' As against all persons claimin covenants and warrants that the prope `'~iis estate taxes not yet due and payable anditb lawful seisin of and good right to convey Grantor hereby fully warrants the title to tr claims of all persons claiming by, through, Dated this ,2.3 day of November, Signed in the presence of two wi(~t'n))e~Dsses (Sign) ~~~d~ ~lZ~~~ (Print) G cep kavrKS ,_ (Sign} (Print) ~ 'S ugh, or under the Grantor, the Grantor hereby of all encumbrances (subject to lien for real they matters set forth herein or on Exhibit 2), that ~perty are vested in the Grantor, and that the i~y~and will defend the same against the lawful ids ~e Grantor. •~ ;,~ ;:: ~~~PROPERTiES OF FLORIDA, t,a, nda corporation ~~ a ~~~ By: Print Its: - , ., ~ , .pub .o~, ~~ corporate seal) ,+ N ~ ~ ~ ~, ~ .---~ ...--~- Book17874/Page1473 Page 1 of 12 STATE OF TEXAS ) ss. COUNTY OF HARRIS ) On ~~ day of November, 20()4, before me, Notary. Pub is in and for the State of Texas, duly 'ssi ned and sworn, personally appeared ~ ~ . , to me known to be the of HCP PROPERTIES OF FLORIDA, INC. named in and which execute the,~fd Ding instrument; and helshe acknowledged to me that he/she signed the same as the free ~. i~t act and deed of said HCP PROPERTIES OF FLORIDA, INC. for the uses and purpose ~Atfie~n~mentioned. .{ i v,.. I certif}~~iat~know or have satisfactory evidence that the person appearing before me and making this acknowlec]gt~nt is the person whose true signature appears on this document. ,. ,% i' WITNESS nq;~l and official seal the day and year in this certificate above written. ...~ ~' ` ~~ ~ ignature fig.=~`,. ~7 ' S4.`...' ~ .~1 ~(~ <,~ r'•^~„`, ~ ~ f,} t ~f~NNSN~ ~. ~Y/4i.i:.t~ Print Name NOTARY PUBLIC in and for the State of TEXAS, residing at My commission expires ~y ~ ~M d 11sM Nlp Cfrn~nNJon P~gINt November rl, Z006 ~~ ~.,~,. ,~ ,; ~.. ~~':..% .y ~~ ~lP.. ~'1 ~~~ ~ ~~ ~s ': jf. w:\ ~ll ~i 4'~ f~~~ ~_, Book17874/Page1474 Page 2 of 12 EXHIBIT 1 TO SPECIAL WARRANTY DEED LEGAL DESCRIPTION OF PROPERTY [attached hereto] ~i. _ ~~~ ,, ~~ ~~ ~~ y ,~~, ~ ~~~ ";;% ~-- - _ 1 ~/"`~ `~, , . i ~..'~ i ~,~~"~;5 ,,,~,; ... /y ~ ~~ ~~ ~, ~. ~,r<<....:,i 5 ~(~ ~(" "~ i ~~~ ~1~ Y ~j . 5` . Mf/~w. . ~ ~ ~ ~ . . a.~~~'.ff~~ ~ f ~~~~ ~ \ f V ~~Y~h ~..3 .A'~ ` r `~~'\/ ~ ``~~~~ * y~ Y a~ '; s~ , ~ s,~ ~~ ~..~,.~ t ~~ .~ ~ ~..= ~--- Book17874/Page1475 Page 3 of 12 ` non ~~ - . ~~~ ~~ti~~ c~fTea Book17874IPage1476 Page 4 of 12 r•~ liR!'iir l~ ~~N ~~'x's'~,::~ i '.~ ~~~ ~.`I""D" Z~'~~r:! I~ ~ •' "'a .t Book17874/Page1477 1MiwiRly. ~~. 'r ~ S~iR7-I -~ ~d~C ~t~~ in e~y, ~k, -~: ~r ~~ ~::, ~ `''r l 1 h .'~+ `S fff + ~,„• .~ s `N~. Page 5 of 12 AL"T "~« "~" of seal ~ o~?+ag,, ~~ l a~.~raa~ed i~ 1~~ lac ~, l~ ~4i~ : Pgien ~,~ ~ ~:e: ~~ Vi ,3~ ~J1~4`~ ;~ ~1~~fi ~' ~tL:.i ~r l~' d9.t~iJ cce~pr,.~f~iae! 'FACT " ~; ~} I'~1"l#~ ''~ire~ al~mtlg.~ll~ ~V~t 1::~ l ,~ ' ~~~ ~ Ptt:c~f - ~.~~ ~~~~'l~aa~ f'T1Tp7" `I~ee~„ ela'f~s s I~iiii s7VL{ii~i /~ip~'9* 71~~~y.f~ ~i7 Book17874/Page1478 ot'`'_` P~ ~ ~ ~ '~ ~: Page 6 of 12 "E~i ~a ~ Q t 1~=~ Etf ~"r'' ~ .g ~' ~~ "'l#`"' `~ Book17874/Page1479 ~~~ ,' ~% . , ta~ffi ~ JN y~. """~ ~~ Page 7 of 12 ~~3 Togs vat ~ ~;~ ~ ~~t t+acd ~ ~~ ~ ~ ~aa~ Pit, ~ aa~a ~a$ ~em~:b~e~i~oe I+iiotMp~3~- dr'•~€'~" "~" ~~-~'~. !iL~t~ ~ ~ ~~' ...._.~ Tom' ..:.. ~ct'Ptasu~="'~' ,d~ nt~c: Via. ~ T:~i ~~" ~' l~~wY4~J "~ w; s ~~' Book178741Page1480 ~; ~. ~J .e , ~3~°~"' .~~ 6 0~.." E ~'1 ~ ~#~1 t r. ~! l y ~J.f~~~~ .. °~ .~ 'y Page 8 of 12 ~.iA. ~: ~!Ila ;i~c ~t a~Pie~ei 1.as ~ai~3 bey -~t~~s d m~ `. ;~ `~~1 3~9~19 ~ ' f f ~~ ~~ ~``=~ ~ ,, F .- s j ~'.-tJ i r L~.f''~ '~ s Book17874/Page1481 Page 9 of 12 EXHIBIT 2 TO SPECIAL WARRANTY DEED PERMITTED EXCEPTIONS 1. Notice of Lien Rights of the Loxahatchee River Environmental Control District recorded in Official Records Book 4984, Page 1254, recorded in Official Records Book 7048, Pag~S and recorded in Official Records Book 7187, Page 1712, of the Public Records ,~f.Pi~nreach County, Florida. (As to Parcels 1, 2 and 3) ~~ ,r f" 2. Ea~e~~(s) anted to Florida Power & Light Company, recorded in Official Records Boo " :9~2~ ~ge 175b, of the Public Records of Palm Beach County, Florida. (As to Pazce~ ~" -~~•~ 4 ,. '~ ':~ • l 3. Easement(s) g~t+~l to Loxahatchee River Environmental Control District ,recorded in Official Rei~~rd`~ ook 10$54, Page 1326, of the Public Records of Palm Beach County, Florida. (As ~a~el 1) .._~ %'•' 4. Terms, covenan o tions and other matters contained in the Standard Developer Agreement bet„". r.--ahatchee River Environmental Control District and ALS-Glaze Bridge Inc., recorde~l~yn, £~fficial Records Book 10961, Page 1085, of the Public Records of Palm Beach Coun~j{~a. (As to Parcel 1) ~_ 5. Terms, covenants, conditi other matters contained in the Water Service Agreement between ALS- Bridge Inc. and Tequesta Water Dept. ,recorded in OfEcial Records Book 11018, P e.,773, of the Public Records of Palm Beach County, Florida. (As to Parcel l) ~~°f ~rt`~`f . 6. Terms, conditions and easements`~ited in Reciprocal Retention and Drainage Easement recorded in Official Reed's'-l 10845, Page 137, of the Public Records of Palm Beach County, Florida. (As to P~r;,l;;~ and 3) 7. Terms and conditions contained in Park\\\iVVVfff~' ;'Ing~e~k/Egress and Utilities Easement ~ 169, of the Public Records of Palm recorded in Official Records Book 10845, Beach County, Florida. (As to Parcels 1, 2 a~~~~'1 8. Terms, covenants, conditions and other matters` wed in the Declaration of Use Agreement between Village of Tequesta and A -Clang Bridge, Inc., recorded in Official Records Book 10846, Page 612, of the Public Reco o'alm Beach County, Florida. {As to Parcels 1, 2 and 3) *'-~~~=•~ ~.,~ ~r`~ ,l,; 9. Easement as set forth in Warranty Deed from J.C. Nowli vidually and as Guardian for Pearl B. Nowling, incompetent, to Joseph H. Bates ~ ~-Rx~tli~. Bates, his wife, dated ,' ~ Book17874/Page1482 Page 10 of 12 August 26, 1954, recorded September 23, 1954, in Deed Book 1066, Page 364, of the Public Records of Palm Beach County, Florida. (As to Pazcels 2 and 3) 10. Easement in favor of Florida Power & Light Company as set forth in instrument recorded in Official Records Book 69, Page 489, as modified by Partial Release of Easement recorded in Official Records Book 9410, at Page 1720, of the Public Records of Palm Bea~unty, Florida. (As to Parcels 2 and 3) ~~ . ..~~1 11. ~sem~ favor of Florida Power &.Light Company as set forth in instrument recorded in Records Book 9728, at Page 1872, of the Public Records of Palm Beach Co~~~~p~€la. (As to Pazcels 2 and 3) ~ .'' .."" 12. Standa~•~,~+eloper Agreement by and between Loxahatchee River Environmental Control ~`istric$~a~d Sterling House Corporation recorded October 23, 1997, in Official Records Bc~o~; H1047, at Page 650, of the Public Records of Palm Beach, Florida. {As to Pazcels 2 an~•~ ~ ~ ~~.~, ; .._ .~, 13 . INTENTIONAI~~~=LETED c... ~ ~' "_,; 14. Sewer Easement D~~ btitween Meditrust Company LLC, a Delaware limited liability company and Loxahv a~'t~c.~ver Environmental Control District recorded in Official Records Book 10846, at~'age 86, of the Public Records of Palm Beach County, Florida. (As to Parcels 2 and 3) \ ~~; 15. Restrictions, dedications and E ~- ent{s) as shown in Plat of Sterling House of Tequesta, Plat Book 82, at Pa e<!10~~ of the Public Records of Pahn Beach County, Florida. `_ f, ^~,~~, 16. The following matters as disclosed~r'an~-~by virtue of that certain ALTA/ACSM As- Built Survey prepared by Dailey and ~' ~ mss, Inc. (Surveyor's License No. 2439), Florida Land Surveyor No. 2439, dat fiber 29, 1999, Job No. 98-173-15 (Sheet 1 of 1}; and as recited in item 11 of Exhib itd~~th~~,Special Warranty Deed from ALS- CLARE BRIDGE, INC. to ALS HOLD ; ~C., recorded in Official Records Book 11516, Page 568, to wit: a) There exists , ~~ ,\ ents by wood power poles and concrete monuments on the South and East b~~.`~ of the property. °'~:~ 17. Restrictions, dedications and easements as show~i.~n ALS PLAT OF VILLAGE OF TEQUESTA, recorded in Plat Book 89, Page 108. (Pazcels 1, 2, and 3) 18. Bill of Sale from Assisted Living Properties, Inc. to th~ i)~~ge of Tequesta recorded in ;~- ~ .. Official Records Book 10005, Page 344. (As to Parcels'~~d~ c~. it -~,~ ` ~~i'_ ~ Sd'\ ! / \~ ~ _.~~) Book17874/Page1483 Page 11 of 12 19. Easement(s) granted to Village of Tequesta, recorded in Official Records Book 10005, Page 346, of the Public Records of Palm Beach County, Florida. (As to Parcels 2 and 3) 20. Terms, conditions, covenants and restrictions contained in Developer's Agreement by and between the Village of Tequesta and Sterling House Corporation, dated December 12, 199'7 recorded in Official Records Book 10159, Page 56. (As to Parcels 2 and 3) 2I.,~T nditions, covenants, charges, easement rights and other rights set forth in Water rvice" Bement by and between Sterling House Corporation and Tequesta Water D - t, dated January 1, 1998, recorded in Official Records Book 10302, Page l 1~~~..c' o~$arcels 2 and 3) 22. Restric'~rtiop~covenants, conditions and terms set for in Unity of Title Agreement by and between~Kiedit,~fiCompany, LLC and the Village of Tequesta, dated May 15, 1998 recorded ir~tial Records Book 10430, Page 1942. (As to Parcels 2 and 3) ,,, ;- 23. Easement(s) grdntec~,to Loxahatchee River Environmental Control District, together with covenants and ns set forth therein, recorded in Official Records Book 12313, Page 1038, of t c Records of Palm Beach County, Florida. (As to Parcels 1, 2 and 24. Standard Exceptions: ~~~~ r'~~ , a. Rights or claims of `~tYes in possession not shown by the Public Records. b. Encroachments, overla bb.tndary line disputes, or other matters which would be disclosed by an accurate surv,~y'~~1 mspection of the premises. ~~~~.~5` i :2, .-~.. . c. Easements, or claims of ease $,~.~ot shown by the Public Records. /~,,r.. ~ d. Any lien, or right to a lien, for ~ ,.~a~i'gr, or material heretofore or hereafter furnished, imposed bylaw and not s ~w%~~%'t#re Public Records. e. Taxes or special assessments which a~,~~shown as existing liens by the Public .-.-~~ ~~ Records. (; J,,s, '~,~,,` f. Taxes and assessments for the year 2005 and(~ent years. .: i ~'~ ~ ~ SE 2064483 vl ':,~""',~~'~= f~ {26272.0002} _ ,~~ \.'~ Book17874IPage1484 Page 12 of 12 Couzzo, Michael prom: Harding, Catherine ant: Friday, January 09, 2009 4:47 PM . o: Couzzo, Michael Cc: Harding, Catherine Subject: appraisals for The Crossings Mike, I made contact with 4 appraisers. Three of them can do a commercial appraisal. Each have said they will make a site inspection of the property and give me a proposal for the cost of an appraisal. I will follow up Monday and Tuesday with them. The appraisal will be for an "as is" property with an expired site plan approval. Catherine TO: Michael R. Couzzo, Village Manager FROM: Catherine A. Harding, Community Deve~en~~~ DATE: January 14, 2009 SUB JECT: 9.32 Acres/2 Parcels 223 Village Boulevard As requested by you, attached please find three quotes for the valuation of vacant property located at 223 Village Boulevard, the corner of Village Boulevard and Old Dixie Highway. The Appraisers were requested to submit a proposal for an as-is value on the building shell only, with expired site approvals in the Mixed Use Zone. January 14, 2009 1. Ted Brown Real Estate .......... $3,900 F. Ted Brown III January 13, 2009 2. Anderson & Carr, Inc. .......... $4,200 Frank J. Cando, MAI January 13, 2009 3. Locke Appraisal Group, LLC .......... $2,750 Fredrick T. Locke Attachments CAH/mk 1'J111'i/ LCl CJ7 G7: 1~. ~Gl G41t3G 77 ;11 w w w. t b r e, c o m Fczx 7'ransrnittdl Form ,, C i tUriKU441VKGHLt~~ I H l t t'HUt 1:11! GL Ted grown ~~si ~~~Att• • ~ r ' e~~~th To ca~a~y JAN 14 2009 Fay ~Tumb~r: ~ ~-j ~` r~~ DEI'AF~"i'b;~ENT c~F f~ ._..,. COMMUNITY UF~IELOPMENT ~ 11~te seztt: ~ ~ ~ ~ -~~ i..t~ly ~C.(~. From "• ~~ .__ Nuxl+bAr. of png, s inrhtdint7 nnvar psgp. Original to follo.~ in mail Subject: ^~ - ' Message: 1 r JAS (~'I 7 ~ /^~ e' ` , i oT~ ~ l ' '' V ""w ~ ~~ I r Thls inlbrrrtatlon Contained in this fax is itrtendcd arty far tha per~Ona1 and confidential us e o rcoipirnb vd ab , Thiy me99age may be a oommuriieation which, as such, is privitcgcd and elmftdentiel. [f the reader of thi s ssagc is ntrt a iattnded ipient; you ere hcrcby notified that you have relxivcd this document in error attd that arty ntwiew, disscmi na n, disltibuti ar copying this message is strictiy ptntubned. if yov have roceived this communication In error, plcasc nottPy us me ataly by tcivph m rite ui iginal message to us by mail, T7fan1: Yot>_ 1'b. ~ Ted Brown Real Estate, Inc. F ~ qe• 561-842-4600 1 S42 a i513IT.S. Hwy I, Suite 107 : 5 t - -5099 North Palm, Beach, ~'L. 334Q8 . e.eom praiserrealtyintstitute.com I LUI:I(lllWl`II[CfiLGJ I N I G AppralserReatty Institute (561) 842.46t)0~ i ENGAGEMENT LETTER r HUt GLi [i :. Pae#tofl o~ra of-14-2QC>4 Lender/Cllerrt VII[aae of Tequesta Address Teouesta. FL RE; ApDralSal of Northeast comer ~tiaAe & OId Aixe Dear Catherine Hardira Pursualrtto your request, we aro nappy to aubmN a proposal for the appraisal of the prop~rry locates ar The appraisal shall be prepared for ~Ilsoe of Tegr~tl and is for the sole and exclusNa use of VI>laas of Ttaauasla We requcstthat you oaok our wrhtan authortraaon before roleacing the report to arty p°rty- The purpose of tMs appraisal is to eslknate the market value of the property. The 19ga1 ~pedy appraised would bs the Fee `r11mDlQ Interest the property wNl be rnlued ns ur Data or I_ne~tion The a~ralsal wiN be prepared in accordance VvNti the Unlfonn Sharldards of Professl0na Apptaleal Practice. Attached to this letter you wiN ikld a copy of our Statement Of Limltiny CondNlons and Appraiser S Cert#i atbn which are attached to ail appraisals prepared by this office. Please review and initial each attached page and taro the executed wpy to us indiCedng your acceptance enA approver rA mn timlling Conditlons and Appraiser's Certification. The estimated Completion date of the appraisal is 2 - 3 eeks from ns~on Wn unn only complete the appraisal by this date M we receive from you in atimely mane any rCicvont Intarmaaon neoded for the preparation of the report. in order to complete this appraisal, the following ildofmatl0 wNl be needed; Thank you for your businessllr _._. _ _ _ ~ _ We win furnish you wnh 2 oopics otiha approiaal roport Our t66 for thi app2lwl oral be S 3.D00 This }ee Qd does ^ does not include the cost Of cattalo e>Qlonaes that may be Inou In the preparation of the report. tt expenses are not included, a bill fa these expenses wNl be provided to you upon wmp Ion of the report. ® A retainer in the artrourit of $ must be paid to this office belore Dan commence the preparatlon {~ A dN forthe S 1.atSO appralaal fee w1N be presented and Immediate gel wel ha mquasted rdfha time the mport la complahsd. ^ A bill for the appraisal tee of $ bong with any other expenses in will be presented to you along wNh the completed report. We will proceed wNh the preparetion of this eppnrisal upon receipt of a signed Copy Statement of umhmg Condldone and Appraiser's Certil~atian_ ff you have any qua; or fi any of the attachments, please gNe us a CeN. Sincerely, F, Ted Brown 111 ~~_ Engagement Leiter ACCEpted; (client signature} (date) fetter and en fii6al~ copy al the about arlyttling contained In this letter Fonn ENGAG - ^WInTOTAI• appraisal sortware by a Ia mode, Inc. - ,ANDERSEN & CAI2R, INC. AGREEMENT FOR PROFESSIONAL SERVICES Date of Agreement: January 13, 2009 Proposal No.: 290017 Client: Appraiser: Catherine Harding Frank J. Cardo, MAI Community Development Director Vice President Village of Tequesta Anderson 8~ Carr, Inc. 345 Tequesta Drive 521 S. alive Avenue Tequesta, FL 33469 West Palm Beach, FL 33401 Phone: (561) 575-6222 Phone: (561) 833-1661 /Fax (561) 833-0234 Fax: Email: fcardo@andersoncarr.com Email: charding@tequesta.org Client hereby engages Anderson & Carr, Inc. to complete an appraisal assignment as follows: Property Address 223 Village Boulevard Tequesta, Florida 33469 Property Description Partially complete senior living facility Interest Valued Fee Simple Intended User Village of Tequesta, c/o Catherine Harding, Community Development Director and/or otherwise specified in writing. Note: No other users are intended by Appraiser. Appraiser shall consider the intended users when determining the level of defai/ fo be provided in the Appraisal Report. Intended Use Estat2lishing a purchase or selling price Type of Value Estimate of Market Value Date of Value Current and Prospective Valuation Approaches Cost, Income and Sales Comparison Approaches Report format Summary Form Appraisal Report Delivery Time Delivery Method 3-4 weeks from authorization Mail & Email Contact for Property Access, If Applicable: Catherine Harding, 561-575-6222 Number of Copies: 2 Items needed to complete appraisal: Complete set of permitted drawings and boundary survey. Payment to Appraiser Total Fee: $4,200 Deposit: $ 2,100 (return with signed agreement) Scope of Work: Scope of work will include the typical approaches to value, Cost, Income and Sales Comparison Approaches. The report will comply with USPAP (Uniform Standards of Professional Appraisal Practice). The appraisal will consider if the improvements contribute any value to the site and will estimate the market value through the eyes of a typical purchaser based on the legal and permissible uses. Hypothetical Conditions, Extraordinary Assumptions: N/A FJC:cmp G:Uobs 2009\290017\Villageofl'equestaBid.doc I of 3 ANDERSON & CARR, INC. Proposed Improvements If the subject property consists of proposed improvements, Client shall provide to Appraiser plans, specifications, or other documentation sufficient to identify the extent and character of the proposed improvements. Properties Under Contract For Sale If the subject property is currently under contract for sale, Client shall provide to Appraiser a copy of said contract including all addenda. Confidentiality Appraiser shall not provide a copy of the written Report to, or disclose the results of the report prepared in accordance with this Agreement with, any party other than Client, unless Client authorizes, except as stipulated in the Confidentiality Section of the ETHICS RULE of the Uniform Standards of Professional Appraisal Practice (USPAP). Changes To Agreement Any changes to the assignment as outlined in this Agreement shall necessitate a new Agreement. The identity of the client, intended users, or intended use; the date of value; type of value; or subject property cannot be changed without a new Agreement. Cancellation Client may cancel this Agreement at any time prior to the Appraiser's delivery of the Report upon written notification to the Appraiser. Client shall pay Appraiser for work completed on assignment prior to Appraiser's receipt of written cancellation notice, unless otherwise agreed upon by Appraiser and Client in writing. No Third Party Beneficiaries Nothing in this Agreement shall create a contractual relationship between the Appraiseror the Client and any third party, or any cause of action in favor of any third party. This Agreement shall not be construed to render any person or entity a third party beneficiary of this Agreement, including, but not limited to, any third parties identified herein. Use Of Employees Or Independent Contractors Appraiser may use employees or independent contractors at Appraiser's discretion to complete the assignment, unless otherwise agreed by the parties. Notwithstanding, Appraiser shall sign the written Report and take responsibility for the services provided as a result of this Agreement. Testimony At Court Or Other Proceedings Unless otherwise stated in this Agreement, Client agrees that Appraiser's assignment pursuant to this Agreement shall not include the Appraiser's participation in or preparation for, whether voluntarily or pursuant to subpoena, any oral or written discovery, sworn testimony in a judicial, arbitration or administrative proceeding, or attendance at any judicial, arbitration, or administrative proceeding relating to this assignment. If additional services are required, such as courtroom testimony, depositions, preparation for depositions, travel time and related expert witness fees, our fees will be billed at our normal hourly rates, which are as follows: $200 per hour for MAI/Principal time, $125-$150 per hour for staff appraiser time, and $85 per hour for researcher time. A retainer fee will be required if additional services are needed. If expert witness testimony is required, client agrees to pay appraiser a minimum fee of $1,000 to be paid in advance of any depositions or court testimony. Appraiser lndependence Appraiser cannot agree to provide a value opinion that is contingent on a predetermined amount, or guarantee the outcome of the assignment in advance, or insure that the opinion of value developed as a result of this Assignment will serve to facilitate any specific objective by Client or others in advance any particular cause. Appraiser's opinions will be developed competently and with independence, impartiality and objectivity. Collections It is further agreed and understood that if any portion of the compensation or costs due to The Appraiser becomes delinquent, The Employer will pay interest thereon at the rate of 12% per annum on said account from the due date until paid, and further agrees to pay all costs of collection thereof, including reasonable attorney's fees, court costs, etc. 2 of 3 ANDERSON & CARR, INC. Conditions of Report 1. Possession of the report or any copy thereof does not carry with it the right of publication nor may it be used for other than its intended use. The physical report(s) remains the property of the appraiser for the use of the client, the fee being for the analytical services only. 2. The report may not be used for any purpose by any person or corporation other than the client or the party to whom it is addressed or copied without the written consent of an officer of the appraisal firm of Anderson & Carr, Inc. and then only in its entirety. 3. Neither all nor any part of the contents of the report shall be conveyed to the public through advertising, public relations efforts, news, sales or other media without written consent and approval of an officer of Anderson & Carr, Inc. nor may any reference be made in such public communication to the Appraisal Institute or the MAI, SRA, or SRPA designations. 4. Liability of Anderson & Carr, Inc., its employees, and any subcontractors is limited to the fee collected for the assignment. There is no accountability or liability to any third party. 5. The report is to be used only in its entirety. All conclusions and opinions concerning the analysis which are set forth in the report will be prepared by the appraisers whose signatures appear within the report. No change of any item in the report shall be made by anyone other than the appraiser and the appraiser and firm shall have no responsibility if any such unauthorized change is made. 6. No responsibility is assumed for matters legal in character or nature, or matters of survey, nor of any architectural, structural, mechanical or engineering nature. No opinion will be rendered as to the title which is presumed to be good and merchantable. The property will be valued as if free and clear, unless otherwise stated in particular parts of the report. 7. No responsibility is assumed for accuracy of information furnished by or from others, the clients, his designee or public records. We are not liable for such information or the work of subcontractors. The comparable data relied upon in the report will be confirmed with one or more parties familiar with the transaction or from affidavit or public records. All are considered appropriate for inclusion to the best of our knowledge and belief. Expiration Of Agreement This Agreement is valid only if signed by both Appraiser and Client within 30 days of the Date of Agreement specified. Governing Law 8~ Jurisdiction The interpretation and enforcement of this Agreement shall be governed by the laws of the state in which the Appraiser's principal place of business is located, exclusive of any choice of law rules. By Appraiser: By Client: ~~2%e (Signature) (Signature) Frank J. Cardo. MAI. Vice President (Printed-Name) (Printed Name) 01 /13/2009 (Date) G:\Jobs 2009\290017\Villageort"equestaBid.doc (Date) 3 of 3 il~n 13 2009 12:57PM LOCKE RPPRRI~RL GROLiP LLC 8882548007 p,1 .~~~`~~ ~l~P~4LS~L GRO~IP, LLC January I3, 2009 ~lg~~ C'x~ Ms. Catherine Harding ~C?€1~~~" Director of Community Development ~A Village of Tequcsta (~ ~ ,~ ~~®g 345 Tequesta Drive Tequesta, F133469 CpM ~~~'ARI`(i9~~y~ ., T, Mtt1Mi~Y pE E/~ ~ ~ c~t~'3~ ~-~- Re: The Appraisal of Real Property, Located at 223 Village Boulevard, Tequesta, Florida (Legal Description- ALS PLAT OF VILLAGE OF TBQUESTA PAR 2, TH PT OF TR A LYG WITHIN c9~ TR8 I~ THRU M K/A RETENTION AREAS) Deaz Mr. F~ter: Pursuant to your request, we are happy to submit a proposal for the appraisal of the above mentioned property. The fee for a complete appraisal report in summary format would be $2,750.00. The fee is in no way connected with any value estimate. The report will be prepared for Ms. Catherine Harding, care of The Village of Tequesta and is for their sole and exclusive use. It will conform to the Ethics and Standards of Professional Practice of the Appraisal Institute. The scope and content of the appraisals will follow generally accepted appraisal practice methods. The,purpose of tlxis assignment is to determine current market value of the vacant buildings and floe 9.32 acres of land. A $I,375.00 retainer fee is needed to commence the preparation of the report. As part of this agreement the appraiser will provide two originals. Unless delayed by circumstances beyond the control of the appraiser, the estimated completion date is two weeks from the date we receive your signed authorization and retainer fee. If you have any questions about anything contained in this letter, please give us a call. ly s mitt , Lo e fled General Appraiser 89/CT-RCG#378 Authorization Letter Accepted: FTL/hms Date 312 S. Old DiYte HJghway, Sre .2117 Juprter, Florida 33d58 affrce .t8.8,2~4-8A6t9 * Fax 888-254-8(107 ..sari l~ cuu~ 1G: ~ rri~ LUI.Kt HI-'F'KH15HL IsKUUI-' LLC: fJ~€~~'.~48UU~T Ip, 2 .~ DCKE .~4PP~tAISA~ GRD SIP, LL C AMERICAN INSTITUTE OF REAL ESTAT@ APPRAISERS Real Estate Appraisal Principles 1 Al Basic Valuation Procedures 1-A2 Case Studies In Real Estate Valuation 2-1 Computer Assisted Investment Analysis 3028 Marshall And Swift Commerckal Cost Calculator Method Fair Housing/Connecticut Real Estate Appraisal Law Standards of Professiona! Pracfice 42013 Appraisal of Retail Properties Standards of Professional Practice SPP 100 Principles Of income Property Valuation 201 Investment And Feasibility Analysis Uniform Commercial And Industrial Reports Depreciation Analysis and Spreadsheet Analysis kdentifying Environmental Hazards Valuation of Easements FHA Appraisal Update Attacking and Defending an Appraisal in Litigation FHA Appraisal Inspections From The Ground t1p Arbitration ~ Mediation, The Role of The Appraiser CERTIFIEQ COMMERCIAL INVESTMENT MEMBER CI 101 Financial Analysis for Commercial Investment Real Estate CI 102 Market Analysis far Commercial Investment Real Estate Cl 104 Introduction to Commercial Investment Rea{ Estate Analysis CERTIFICATION AND LICENSES State of Florida Certified General Real Estate Appraiser #R22489 State of Florida Licensed Real Estate Broker #8K3008788 ~ S#ate of Connecticut Certified General Real Estate Appraiser #RCG378 PROFESSIONAL AFFILIATIONS Associate Member of The Appraisal Institute Associate Member of the South Florida Chapter of the Appraisal Institute Member of The Palm Beach Beard of Realtors Candidate Member Commercial Investment Real Estate Institute Member of The Commercial Society of Palm Beach County Special Tax Magistrate Palm Seach Caunty APPRAISAL SQFTWARB Excel and Word 2007, for Windows 2007 Microsoft Office 2007, for Windows XP Argus Lease-by-Lease and Discounted Cash Flow Analysis WinTotal Appraisal Forms with EDI Delivery EXPERIENCE Providing clients with real estate appraisals for the last 24 years. With emphasis on expert testimony, litigation support, loan underwriting, new construction and condemnation valuation. 3I.~ S. Old .Dixie .Highway, Ste 207 .fupiter, .Florida 33458 Office 888-ZS4-8009 * Fax 888-254-8007 :b6=~ Z~~~3Jt1d ~QI Xki~ Wd9C ~ Z Z 6E~~Z-Z~-NtJr 'rWOMAS B. GUSHING DSMQLITION a `~ ~r ~' ~-h~ ~ ~~ ~ ~~ ~ ~ ~~ ~~~ Y`~ S t~ ~~~ u G~~~'U~. ~~ ~l t`~~ ~.J~t.r ~~~cfc ~7~, ~~ ~~ 8210 8th Road North • We,St Palm Beach, Florida 33411 • 561-793-6173 • Fax: 561-780-2287 id wd~~ : ~ti 6e~~ z~ •upr •ot~ xdd add FROM FAX N0. : ,Tan. 27 2065 12:22PM P2 fiHO~I1IAS B. GUSHING D~MO~.I~"10 N January 27, 2QU9 To: Village of Toquesta Attn:.Michae! Couz~p Ph: 561-57'5-6272 P'aa: 561-575-G203 Project Address: 223 Village ltd. Tequ.esta The following i.s a. price fnr dernolitior~ work to be performed al the a.buve address. The work includes: 1. Wrecking and removal oi' a three story cbs buildittg including ;,lab ~u1d rooters t~~ Z' belav~r grade. 2. Removal ol'the pool. Exclusions: Asbestos survey, agbosCt>s abatement, permits, utility discot~nect;~(roloc;ating, impprtlexport of till, shoring„ patching, painting, weatherproofing ,additional insurances, Relnovaf of ta.nlcs, tires, fi~~tt, bushes ~ trees, t~ncing, hvatxious matcria.ls, iluarc5cent bulbs & haila5ts, paini:s, oils, contaminated soils. tiny unfnr4seen conditions undor sfiibs. No vegetation or structures ~vil'I he rontaved on the property lines ar in tho easement, No pilings will be removed. No sa:w cutting. No repair of sidewalks ~n'curbs. Na Bellsouth te~7uinal tertninatians. The den~oliiicm area will be left in a neat and clean condition and rr~ugl. graded. upn~~ ca,npletian... .Price: $ Sl S,p00.00 Progressive payments try be mac~le,,.This price i.s I~ascd on rJne mobili:zatian. This propnga,] is goad for 3U days. Special Conditions: All salvage beco>!nes the property of C'ushi~~~; f~)eYYiolition. Water must be pr ~vided to us for a wet demolition. 1\ll rria.blc and n n-friable asbestos containing rn~aerials not limited. to the roofing, t7 or file a,nd tl~astics are cxclucied. from this price. `leis jc~b is ba.5e on hauling all tnatcrials to a recycling facility..If any materials are to be hauled. to the urunty Snlid Waste Authority there will lye an additic7nttl cost. if you agree with the fihovc terms, please sign and refurn one copy to our office. Proposal accepted by:__ __ _. ... 8210 8th F~oad North • West Palm Beach, Florida 33411 • 561-793.6173 • 1=ax: 561-79Q-2297 JA~J-27-2669 11:26AM FAX: Id: PAtaE:662 R=94% Palm ~3each County Tax Collector's Office TAX CDLLECTOR, PALM BEACH COUNTY Page 1 of 1 Home ~ Quick Help ~ Site Map ~ Employments En Espanol An Ki Search Site... 1iecord~ SeC#t Pglyrt I~aEdigr ~>~ant L e to i l ~ ~~~ ® ^ ~Ilector # ~~ Property Control # Tax Year 2008 Real Estate Property Details Cross Ref PCN~--~ Mortgage NONE Acres 9.32 Record Status UNPAID Petition #~ Tax if Paid Help) 45,986.10 . Buyer Interest Rate 0.00 Total Tax (March 46,924.59 Amount) Advertise #~ Installment #0 Owner CORNERSTONE TEQUESTA LLC Owner2 CORNERSTONE GROUP C/O Legal Description ALS PLAT OF VILLAGE OF TEQUESTA PAR 2, TH PT OF TR A LYG WITHIN & TRS K THRU M K/A RETENTION AREAS Address1 223 VILLAGE BLVD City Situs Address Address2 State Zipcode Q Address1 2121 PONCE DE LEON BLVD PH Yk` :~? City MIAMI Muncipal Millage Code 60 County Millage Code 46 Drainage District Code 99 Suit Code NONE General 20,474.18 School 11,559.28 City Homestead Mailing Address Address2 State FL Zipcode 33134-5219 Tax Details Good Faith 0 Buyer Interest 0.00 Buyer #~ Non Exempt 2,360,000.00 Taxes Library 1,280.77 City 13,610.36 Ad Valorem Total 46,924.59 Non Ad Valorem Total 0.00 Total Tax 46,924.59 All content ©2007 Tax Collector. Palm Beach County Disclaimer http:/hvww.pbcgov. com/eTax/eTax/property/realestate_detail.aspx?Year=2008&pcn=604340304600200... 1 /26/2009 Palm Beach County Tax Collector's Office Page 1 of 1 ~- _~ Home ~ Quick Help ~ Site Map ~ Employments En Espanol) An Ki ~.: ~~ j. ~~/ ~ A ~1 N E: M. G A. tiI N O N ,a~~ TAX CDLLEGTDR, PALM BEA~GH GOUNTY Search Site... ~ C~n~er Detail I - ~ - Collector# 4-200-809-30 ~'roperty Control # 60-43-40-30-46-002-0000 Tax Year 2007 Real Estate Property Details Cross Ref PCN r Mortgage Acres 9.32 Record Status UNPAID Petition #~ Tax if Paid Today (Help) _, f ~n ~ , l T M T Buyer Interest Rate 5.00 . ota ax ( arch 46,893.68 r Amount) ~~t~ Advertise # 33729 ~ N Installment #~ Owner CORNERSTONE TEOUESTA LLC Owner2 CORNERSTONE GROUP C/O Legal Description ALS PLAT OF VILLAGE OF TEQUESTA TR A LYG WITHIN & TRS K THRU M K/A PAR 2, TH PT OF RETENTION AREAS Situs Address Address1 223 VILLAGE BLV City Address2 State ~ Zipcode Q Address1 2121 PONCE DE LEON BLV PH . City MIAMI Muncipal Millage Code 60 County Millage Code 46 Drainage District Code 99 Suit Code NONE General 20,805.76 School 11,193.48 City Homestead 0 Mailing Address Address2 State FL Zipcode 33134-5219 Tax Details Good Faith 0 Buyer Interest 5.00 Buyer # 1946 Non Exempt 2,360,000.00 Taxes Library 1,284.08 City 13,610.36 Ad Valorem Total 46,893.68 Non Ad Valorem Total 0.00 Total Tax 46,893.68 All content ©2007 Tax Collector, Palm Beach County ~ Disclaimer http://www.pbcgov.com/eTax/eTax/property/realestatedetail.aspx?pcn=60434030460020000&Coll_Nu... 1/26/2009 Palm ~3each County Tax Collector's Office ~:~•^ f~ .~. N Ni E~. G A ~l N O N ~~~`4~ ~ TAX COLLECTOR, PALM BEACH COUNTY `~+; ~ - Search Site... Record 5c~arch ~~nttx PYyrnerst CaTb~ Form ~t Detail ~ - ~ _ . _ - ~:ollector # 4-135-886-40 ~ Property Control # 60-43-40-30-46-002-0000 Tax Year 2006 Real Estate Property Details Cross Ref PCN Mortgage Acres 9.32 Petition #~ Buyer Interest Rate 0.00 Record Status PAID Tax if Paid Today ~~~ (Help) Total TaAmou t) 94,166.67 ~, ikt~ Advertise #0 Installment #0 Owner CORNERSTONE TEQUESTA LLC Owner2 CORNERSTONE GROUP C/0 Legal Description ALS PLAT OF VILLAGE OF TEQUESTA TR A LYG WITHIN & TRS K THRU M K/A PAR 2, TH PT OF RETENTION AREAS Situs Address Addressl 223 VILLAGE BLV City Addressl State ~ Zipcode Q Addressl 2121 PONCE DE LEON BLV PH . City MIAMI Muncipal Millage Code 60 County Millage Code 46 Drainage District Code 99 Suit Code NONE Page 1 of 1 Home ~ Quick Help ~ Site Map ~ Employments En Espanola An Ki Mailing Address Addressl State FL Zipcode 33134-5219 Tax Details Good Faith 0 Buyer Interest 0.00 Buyer # 0 Non Exempt 4,307,046.00 Taxes General 41,681.44 Library 2,579.49 School 21,918.56 City 27,987.18 City Homestead 0 Ad Valorem Total 94,166.67 Non Ad Valorem Total 0.00 Total Tax 94,166.67 All content ©2007 Tax Collector. Palm Beach County ~ Disclaimer http://www.pbcgov.com/eTax/eTax/property/realestate_detail.aspx?pcn=60434030460020000&Coll_Nu... 1 /26/2009 Palm i3each County Tax Collector's Office Page 1 of 1 Home ~ Quick Help ~ Site Map ~ Employments En Espanol) An Ki 4., NNE M. GA~INON `^ . `, TAX COLLECTOR, PALM BEACH COUNTY Search Site... ~~~ rch Cerd~r C Form Cant Detail I - - ~ - ;ollector n 4-062-008-50 Praperty t;ontrol # 60-43-40-30-46-002-0000 Tax Year 2005 Real Estate Property Details Cross Ref PCN Mortgage Acres 9.32 Record StatusrPAID 1 Petition # 0~ Tax if Paid Today (Help) D~ s Buyer Interest Rate 0.00 0 Total Tax (March 94,216.36 ~ n Amount) ~(r~fl) Advertise #0 Installment #0 Owner CORNERSTONE TEQUESTA LLC Owner2 CORNERSTONE GROUP C/O Legal Description ALS PLAT OF VILLAGE OF TEQUESTA TR A LYG WITHIN & TRS K THRU M K/A PAR 2, TH PT OF RETENTION AREAS Address1 223 VILLAGE BLV City Situs Address Address2 State ~ Zipcode Q Address1 2121 PONCE DE LEON BLV PH . City MIAMI Muncipal Millage Code 60 County Millage Code 46 Drainage District Code 99 Suit Code NONE General 42,590.44 School 21,857.33 City Homestead 0 Mailing Address Address2 State FL Zipcode 33134-5219 Tax Details Good Faith 0 Buyer Interest 0.00 Buyer # 0 Non Exempt 4,179,221.00 Taxes Library 2,612.01 City 27,156.58 Ad Valorem Total 94,216.36 Non Ad Valorem Total o.oo Total Tax 94,216.36 All content ©2007 Tax Collector. Palm Beach County ~ Disclaimer http://www.pbcgov. com/eTax/eTax/property/realestate_detail.aspx?pcn=60434030460020000&Coll_Nu... 1 /26/2009 Palm Beach County Property Appraiser Property Search System Property tnrormatlon Location Address: 223 VILLAGE BLVD View Map Municipality: TEQUESTA Calculate Portability Parcel Control Number: 60-43-40-30-46-002-0000 _ _ Subdivision: ALS PLAT OF VILLAGE OF TEQUESTA ~ Proposed l Tax Notice J _.. Official Records Book: 17874 Page: 1473 Sale Date: Nov-2004 1Ze~ cr~c ~j~c Legal Description: ALS PLAT OF VILLAGE OF TEQUESTA PAR 2, TH PT OF TR A LYG WITHIN & TRS K THRU M K/A RETENTION AREAS Owner Information Name: CORNERSTONE TEQUESTA LLC ~ All Owners Mailing Address: 2121 PONCE DE LEON BLVD PH . MIAMI FL 33134 5219 - Sales Information Sales Date Book/Page Price Sale Type Owner Nov-2004 1.7874/1473 $5,000,000 WARRANTY DEED CORNERSTONE TEQUESTA LLC Mar-2004 16646/1127 $1,500,000 CERT OF TITLE HCP PROPERTY OF FLORIDA INC - Exemptians Exemption Information Unavailable. Page 1 of 1 p-ppralsais Tax Year: Improvement Value: Land Value: Total Market Value: 2008 2007 2006 $0 $0 $2,587,046 $2,360,000 $2,360,000 $1,720,000 $2,360,000 $2,360,000 $4,307,046 Property Information Number of Units: 0 Acres: 9.32 Use Code: 0000 Desc: i;~ VACANT Assessed and Taxable Values Tax Year: 2008 2007 2006_ Assessed Value: $2,360,000 $2,360,000 $4,307,046 l Structure Detalt Exemption Amount: $0 $0 $0 Taxable Value: X2.360.000 $2.360,000 $4,307,046 I ax values Tax Year: Ad Valorem: Non Ad Valorem: Total Tax: 2008 2007 2006 $46,925 $46,894 $94,167 $0 $0 $0 $46,925 $46,894 $94,167 Tax Collector WebSite NOTE: Lower the top and bottom margins to 0.25 on File->Page Setup menu option in the browser to print the detail on one page. VILLAGE OF TEQUESTA Daily Cash & I nvestments Balance Report 1/27/2009 GENERAL CASH ACCOUNT - $ 13,032,614.60 AIP POOLED CASH ACCOUNT TOTAL 001-000-101.100 Cash -Bank of America 0.00% $ 884,261.14 001-000-101-130 Cash -National City 1.01% 1,055,753.38 001-000-101-135 Cash - TD Bank 0.40% 50,525.98 001-000-101.405 Cash -Bank of America - MM 0.50% 4,001,657.04 001-000-101-505 Cash - TD Bank - CD mat.4/02/09 2.42% 1,000,000.00 001-000-101-506 Cash - TD Bank - CD mat.4/17/09 2.16% 1,250,000.00 301-000-101.100 Cash -Bank of America 0.00% 96,167.66 301-000-101.405 Cash -Bank of America - MM 0.50% 400,000.00 303-000-101.100 Cash -Bank of America 0.00% 83,734.32 303-000-101.405 Cash -Bank of America - MM 0.50% 300,000.00 $ 9,122,099.52 401-000-101.100 Cash -Bank of America 0.00% 518,840.01 401-000-101.109 Cash-Impact Fees/Cap Imp-BOA 0.00% 23,220.60 401-000-101-112 Restrict - Cust. Deposits 0.00% 22,412.05 401-000-101.114 BOA- D/S 2004 Tropic Vista 0.00°fo 3,462.16 401-000-101.405 Cash -Bank of America - MM 0.50% 2,000,773.28 401-000-101-506 Cash - TD Bank - CD mat.4/17/09 2.16% 750,000.00 $ 3,318,708.10 402-000-101.100 Cash -Bank of America 0.00% 290,789.84 403-000-101.100 Cash -Bank of America 0.00% 256,714.75 $ 547,504.59 TOTAL POOLED CASH AVAILABLE $ 12,988,312.21 $12,988,312.21 PAYROLL POOLED CASH ACCOUNT 001-000-101.101 Payroll Cash- BOA 401-000-101.101 Payroll Cash- BOA 403-000-101.101 Payroll Cash- BOA TOTAL PAYROLL CASH AVAILABLE $ 19,931.64 1,719.43 614.71 $ 22,265.78 $ 22,265.78 Gen.Cash Bal. as of 01/26/09 12,944,218.53 Departments' deposits 1,236.09 UB & CR 41,580.01 FPL Utility Tax 0.00 State of Florida 45,579.97 2002 Note Payable 0:00 PR 0.00 A!P 0.00 Gen.Cash Bal as of 01/27/09 13,032,614.60 GENERAL 8~ PUBLIC SAFETY EMPLOYEES' PENSION TRUST CASH ACCOUNT 601-000-101.123 Cash -Sun American Bank $ 14,301.96 Cash Earnings Year-To-Date 602-000-101.123 Cash -Sun American Bank 11,549.39 Banks Interest 6,991.29 603-000-101.123 Cash -Sun American Bank 3,932.35 Banks Charges (3,016.92) TOTAL SUN AMERICAN BANK CASH AVAILABLE $29,783.70 SPECIAL LAW ENFORCEMENT 605-000-101.100 Cash -BOA TOTAL SPECIAL LAW ENFORCEMENT SUMMARY OF SBA FUNDS FUND A - $ 327,764.99 FUND B - $ 260,830.67 $ 588,595.66 INVESTMENTS-SBA 001-000-151. 100 Investments SBA - A 001-000-151. 101 Investments SBA - B 301-000-151. 100 Investments SBA - A 301-000-151. 101 Investments SBA - B 303-000-151. 100 Investments SBA - A 303-000-151. 101 Investments SBA - B 401-000-151. 100 Investments SBA - A 401-000-151. 101 Investments SBA - B 401-000-151. 119 SBA -Impact FeeslCapital 402-000-151. 100 Investments -SBA - A 402-000-151. 101 Investments -SBA - B 403-000-151. 100 Investments -SBA - A 403-000-151. 101 Investments -SBA - B Cash Earnings -December 08 $ 22,036.61 Banks Interest 3,454.73 22,036.61 Banks Charges (907.20) TOTAL $ 19,456.91 154,147.30 $ 173,604.21 Investments SBA as of 01/23/09 588,595.66 0.00 Interest Dec OS 0.00 0.00 0.00 Unrealized Gain/ loss 0.00 Investments SBA as of 01/26!09 588,595.65 0.00 0.00 $ - Investments Earnings Year-To-Date Interest 11,694.05 19,229.49 Net Unrealized Gain/(Loss) (47,381.40) 96,065.82 Net Realized Gain/ Loss 0.00 0.00 $ 115,295.31 107,138.95 Investments Earnings -December 08 5,280.79 $ 112,419.74 Interest 316.28 Unrealized Gain/(Loss) (35,403.64) 181,939.64 Realized Gain/ Loss 5,336.76 $ 187,278.40 TOTAL INVESTMENTS $ 588,595.66 $ 588,595.86 Report Total ° 0 0 O ~ o0 0 V ° ~ ° o O N r r ~ ~"~ O O O N ti M f~ O O ~ ~ O M ~rj ( D O ti ~ ~ O O O O 1~C~ O O ~ M O ti `"' ~ N I~ Ef? ~~-- ~ ~ M O COp O ~ 0~0 ~ IfJ ~ ~ ti ~ _ (D N ~ M _ O O N N cf' N r (p . 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LL ~ 6L O C O Y O Y f0 (6 (O 0 Mo O m ~ i m ~ v aL i ~ m m O O o ~° v O ~ u0i 0 Q v Q v ~ LL F- F- to to m m Z~ Z N Z N H N O H O N W a W Z H U G) v 3 G1 s O H a v N N Q d Y Q O m C O Q N ca u1 .--~ N a-~ v s+ c v 0 v v .II C .N L H +e O O v 3 3 3 iii t Page 1 of 1 <~~~ Gary R. Nikolits,CFA ~~~ ~ Palm Beach County Property Appraiser f~' ~-A- Property Mapping System ,~-ar ~ ~ - ''~ -~ S v + ~ ~~ ..... ~{S . Kt , a~ y_. a... _ =x:_. r !?~t~J 9~fi9@ * , • rs ~ ~', r w , t„~ i Y.Y" S''~ F .i ~ :. ~y~,,-~ T ~~; ~. p 1 c„=_ !~` ., •~- _ '. Legend Parcel Boundary 0720 Lol nurrber Search Parcel Details P~ •`~~' 60434030460020000 Retum to PAPA Na~ CORNERSTONETEQUESTA ` LLC DCatlon: 223 VILLAGE BLVD Mal~ars 2121 PONCE DE LEON BLVD PH . MIAMI, FL 33134 5219 Appraisal Value Market Value: ;z,36o,0 Assessed Value: #z,36o,000 Exempt Amnt: Taxable: Sz,36o,0 Tax Value Ad Valorem: ;a6,9za.59 Non ad valorem: #o.o Total: X6,924.59 Sales lnformatio Sad~s ~~*e Pric: Nov-2004 ;5,000, Mar-2004 1 500 0 Palm Beach County Property Map Map Scale 1:3092 Map produced on 1/28/2009 from PAPA http: //www.pbcgov.com/papa http://gisweb.co.palm-beach.fl.us/ipapagis/presentation/mapping/printnew.asp?MAPURL=... 1 /28/2009 Pillage of T~_questa 6tiaTt.r PI?r,t -1 M 5 ~. Rttr.~dtcw I ~, q.. ~,~.. d 1• . ~' (1 m Jlv Presrrve 1 ~ 4rfy~~'. 1:a"" xo rwlinmr r t t'S. JL ~ eia a~~.. ~~ 1d k .. tL .-M. - - ---~_-~ ~' 1 4 lr.• ~\ S r.. x - -.,. `\114\ b ~ ~~( ~~~-~ - ~v 41 ~~~ ~ ~ ~ ~~: ~/ ~d ~ e C a ~ `', \\ 1 ~ `~ f i F~ 4 \ ~' 6 '. ~' 4 a '1, , M\ ~ .a ~ S r S /0 Pa rce 11 ~„ ~ \` ` 2 ~ 4\4 ~ 1 ~ \ , 1 'y 1 ~ \ \4: r~ ~ \ ' r r `1° s 11 Tatal Sile Area 932 Acres, 40,920 s.r. ~° n V vs 1 :a 1 \ E~fsting Zor,inq ~1-V; Mixe_~ Use District X11 + \u ~ ti M14 Parcel 1 [?ata ~ ~, ''1 , ''~. Total Siie Area 4 ~1 Acres 183,708 s f ° r •~ r ~^ ~;^ i lotalLnltS 60i~~4u,s~1axJ ~ `•,, Total Density 14.2 ~t u./ac ('(8 ~j.u.'s/ac. MaxJ ~„ / v Pa~'king Reyuire~ 17.0 Spaces "~ a<`' ' `4 Parking Provit~eLj 120 Drivellray Spaces ~, ";Q~ ~~'~ 60 Garage Spaces 6 Parking Spaces .,lal Parking Provic{ed 1865pace. Buik~irg LotCo~rerdge 6,730 s t, 3`; 8„ Tatal Open Space 70 5?_? s t., 38.4;0, (25°a MInJ Pervious 64,127_ s.f 3+.9 0 Irrlpe'n,~ious 119,?8b s.f-, 6~.1 n _ I -~ n , .,r 1 dotal Site Ar?a 5.11 Acres; 222,211 s £ li>ta t/nit; 92 ~fotal Density 17.91 d.u./ac (18 m3.K.) Pa-king Reaufred 184 Spaces Parking Provi~ecJ 4 Drive,ti~ay Spaces 14 G.araye Spaces 182 Parking Spaces "I~ota~ Parking Provl~,~ey 20U Spares Buil~u;g Lot Covrg. 54,100 4 f. 24 3 p I~otal Open Space (25~ lain ) Pervious 64,3°/5 s F ~7, o Ilnperviol.is 1S2 816 s.f, 68 Ei` GENE0.AL NOTES - .1 i~,! IvCI F 1,,! L 1 ~ '~4 IVC 'Shl1 ll ALF'll'U L L'!U I;U.. =. LV!'~_ J11V K 4l 0.t L (. ( [F F i~t') I ~ ~ 14 I ( )1 1t 1 h 11 V;I h 4l IV'. (.k \II~•vl r I! ~.1~~11U 3t Fx all Ih i L ~(=' rrg! t! >' o-L t, ri i 11~tU RH I(.V~ ~I.t Dk a l( '.6J 1 F Ih)1 :~ 1' I1 VI LLV1I LV lit itx~~ai u , <~. Fide riL- ~ta u..t4 hit ~,:Lec r i I r .Ir~ye~~ t!i ~n et .rev ! c t Ir,F ~. ~H'~MJ_V ~~t II t~iijlt aVL kk(1~1^l I t ~'~II..P 7k,;I~.~~`; VI(-Ili"It ~1 1 ;1k„V '.llkl t}t li"RR-Slit IlK Vk.li','I~hj. Parcel 2 i' 0 9' -~ a ~- 7 ~` ~1 ~ ~ ~. \ ~ ~' ~` `1~ 1~1 H :,r E~i tlhg ! V L- r ,~. ~ 5telhr g Nose II ~, ~ ~ ~ ~ i __ - ~ t ~,1 ~-- a I ~ ~ ~~;. ,~>Lrt,? ,I I I ~~ i ~~ -_t t -~~ ~ ~ i .~ ;~ i 1 ,,. ~ r-z_: ~ ~ i I, i u~ulr~ :, ire Vaza ~ t' 1 ~ 1 I ~`~ ~ c ~ r ~`~' _~(~ '~` ~11 ~~~~~_ 1~ rr~---i-----~--- ~ ~ q ,,' ~T IL~' l,r""_ rrni -J ~/ \ `r`te ~~f~,r t), `~~ t~~. ~ E° / ~y 1i l T I ~ 1,- r', r -, - ~ _ ~F rd , ~ 1 , ~ p 4 1 uC' ` 06C j~~ 1 ~ ~~~ , _/, ~` ~ 11 ,, 1 1 l,r ~ ~ -11 ~°• '~~ 1 ~ 11 ~!~ 1 ~i ;~~ ,r~ ~ ', 1 ~' hr 1 1 ~~ (ih., iui ~ ~ r ~~ ~! i ~ 1 1 ~I 1 1 ~ ti I~e~C6rr.i jrkitid ! 1 1 ~ KI ~Ih, 1 r ~' 1a S ~ r . ~ 1 ~ ~ `~ 1 ~~ . ,ra r ~ ,,~. _,~~ 1~-'~ ~r `, F ~y,kj ` ,;1 Sl~r Ir c~'~;Ip,~e I r ~~~ ,, ~, ~;~, ~ ,. L t ~ ; 1 1 ~'~~ 1 1 '4 r< ' ~`~ i1 1 1 ~~ 1 :~ir~l1 ~ t lrr IFl i~1ly~ 1 - ~~ to '~ ~ ~~~ i1v ~ ~ 1 1 l~,. 1 1 - s1 t nhstc E e'r~ ~ i ~ w • . ~ '11 3 = ~ 1 ~ ^' l ~ ~\ , / r 1,b ~?; ..111 1,. :1 1, ~ ~ a~s , ;~~~, o la 1r ~ 1 1t" ~ ~ ~I ''~~ ` r Nnt r ~ ~„ 1r ~-~ ~~ ~\i ~ 'ti ~~ 1 ~1 v v v ~ r~ ~' 'S, ~ ~ 1~ ~y1 t 1 ~.'- t, ainl, " ~ ~ A 1 -.,AA \I ~1 rkua3 ~ ~ ~, 4,t~ r k1i ~ ~~ ~~-'~~-. J, `~rl ~- _ "`~ r ( 5~.. A 1 1 1 ~ ' '` o"~~ '' :~ 1 b "fit ~ ~ ~. ~ ~ `( ~"'Y' \ \ L,ly-aT oaf '~~~~ c,S /~ ~ ~ ,,~~• ~ , n v ~ \ M ,ii,r, h ry }~ / ~" ~ ` 5 . -`\11 !' \ 'S j ~ '~. `~ ~ feu^nirr f1 ~~,~r ~~{ t.~ n;,.~. k'` _ -' -~--- ------- ''~ ,t ~': 1vI '1 1v ~~. y~,', a 'G~ - t 7 _ ~_ r ~ r \ ~ ~ $ , \; ~ ~, v .r ~ ~~ 1 1 f,.,,n ~ ~ 1 1 i ~,~ ~ , o 6r:ck I'm" s } ~ \ ~ ], ~ \ r ,/ ,kl ,,, ~aY s ,, vv ~ `~° ~ r in L ~ ,.,= :~~~ LOCATION M~1P is ~~ ~ . _' - ~, -s. .' /'/ ` ,`,~,~ ~' ~ ~ H ! -- -„~i ~ ~, ~-° ~ ~ > '-~ 5• a, ~~` ~~ , . , Lightho~ ~P dove f•> sari" ~ 1~ c 4 ~o x ~c' ~ ~i v y 1 t , 1 ~ T. 1 y Ji. J ~ '. ~ NSULTANTS~ pax P, _ °, ~°'~"~ ~`„ / `,1'14! /ELOPER. LANPSCAPEARCHITECT$RL4NNER ~` 1\` l S ent 'Ft- l~ec: l-. L I I I T, d -f~~]!o ~1' /~ ~c tlc4-~U.d ~ L1-w :1 ` ~ ~,r L ;~ F ~ L ~~ O 25 .O 100 'ISO ,, ~~ ; w, ,,t~ ~: :r<,~ ~:,..:: ~l~ .~~~ Gentle HoNoway O'Mahoney k Acs~cfclec, Iqc. Lendscepe Architects Planners and - ~. EnvlranneMal GoneulWnts ___ I°Al Commerce Lene Suite 101 Jupiter, Floride 33458 561-515-9551 561.515-5760 FAY, wwwlaM~r~pe-erchuxre~om ~,/~ 1 11/h ~ 1 ~~ ~~ v" ~V ~ ~~ ~ s l~ r ~:r. ..Iti I ra ~ r; 01 , r .. ~. ti , ,li.lli { -ti: Site Development Plan