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Agenda 10/12/2010 Item #14A Agenda Item No. 14A October 12, 2010 Page 1 of 44 EXECUTIVE SUMMARY Recommendation that the Community Redevelopment Agency (CRA) approve the purchase of two adjoining vaeant parcels at the corner of South 9th Street and West Eustis Avenue as part of the downtown Immokalee portion of the Immokalee Storm Water Master Plan, and authorize all necessary budget amendments to recognize the total grant award in the amount of $3,533,124 and appropriate expenditures. This purchase will be funded by a dedicated Immokalee Community Redevelopment Agency Grant Fund (715) with a subsequent reimbursement from the CDBGfDRI Grant Fund (705) in the amount of $474,000 (plus associated closing costs). OBJECTIVE: That the Community Redevelopment Agency (CRA) approve the purchase of two adjoining vacant parcels at the comer of South 9th Street and West Eustis Avenue as part of the downtown Immokalee portion of the Immokalee Stonn Water Master Plan, and authorize all necessary budget amendments to recognize the total grant award in the amount of $3,533,124 and appropriate expenditures. This purchase will be funded by a dedicated Immokalee Community Redevelopment Agency Grant Fund (715) with a subsequent reimbursement from the CDBGIDR! Grant Fund (705) in the amount of $474,000 (plus associated closing costs). .- CONSIDERATIONS: Tropical Storm Fay and subsequent heavy rain events have subjected the downtown Immokalee area to significant flooding. Additionally, there are large unprotected drainage basins and open drainage swales, some of which collect garbage to the point of impeding the stonnwater flow. On December 21,2009, the Immokalee CRA submitted a Community Development Block Grant (CDBG) Disaster Recovery Initiative (DRI) grant request to the Collier County Department of Housing, Human and Veteran Services for the purpose of implementing the Immokalee Storm Water Master Plan. As a result, the Board approved a CDBG/ DRI Grant in the amount of $3,533,124 to the Immokalee CRA for construction of the downtown portion of the lmmokalee Storm Water Master Plan. The Board also approved the CDBGIDRI Grant Agreement with the Department of Community Affairs (Agenda Item l6DIO on 5/25/20]0) and a Sub-Recipient Agreement between the Board and the Immokalee CRA for a portion of the above-mentioned grant (Agenda Item l6D7 on 9/14/20 I 0). Staff has spent a significant amount of time and effort analyzing the required 5-acre water detention pond component of this stonnwater drainage system. Based on the geography of the downtown Immokalee area, the lack of viable alternatives, and the existence of a willing seller, the Immokalee CRA is recommending the purchase of these two parcels for construction of this detention pond, The purchase price of $474,000 for the two lots is equal to their combined appraised value. .-- The alignment of this pond will be based on the natural overland north-to-south flow of stormwater through downtown Immokalee as well as existing wetlands, ditches, and canals. This strategie acquisition will also help in meeting the aggressive 24-month construction schedule mandated by the DR! Grant. Agenda Item No. 14A October 12, 2010 Page 2 of 44 FISCAL IMPACT: Project expenses will be paid from the Immokalee CRA Grant Fund (715) with a subsequent reimbursement from the CDBG/DRI grant fund (705). LEGAL CONSIDERATIONS: This item is legally sufficient for Board action. -JBW GROWTH MANAGEMENT IMPACT: The lmmokalee Storm Water Master Plan furthers the programs and projects within the budgetary and policy guidance and directives of the Community Redevelopment Agency and the Board of County Commissioners in furtherance of Policy 4.2 of the Future Land Use Element of the Growth Management Plan which reads as follows: "****The Immokalee Area Master Plan addresses conservation, future land use, population, recreation, transportation, housing, and the local economy. Major purposes of the Master Plan are coordination of land uses and transportation planning, redevelopment or renewal of blighted areas, and the promotion of economic development." ADVISORY BOARD RECOMMENDATION: During its regular July 21, 2010 meeting, the Immokalee Local Redevelopment Advisory Board voted to recommend approval of this expenditure. RECOMMENDA TION: That the CRA, takes the following actions as it relates to the purchase of two adjoining vacant parcels (Folio #'s 00126040009 and 00127565101) at the corner of South 9th Street and West Eustis Avenue for construction of the downtown Immokalee portion of the Immokalee Storm Water Master Plan. This purchase will be funded from the Immokalee CRA Grant Fund (715) with a subsequent reimbursement from the CDBG/DRI grant fund (705). I. Approve the two attached Purchase Agreements; 2. Authorize the CRA Chairman to execute the attached Purehase Agreements and any and all other County Attorney's OfTice approved documents related to this transaction; 3. Authorize the CRA Chairman to make payment of the costs and expenses necessary to close the transaction from Fund 715; 4. Direct the Executive Director or her designee to proceed to follow all appropriate closing procedures, and to record the Warranty Deed in the Public Records of Collier County, Florida; and 5. Authorize all necessary budget amendments to recognize the total grant award in the amount of $3,533, 124 and appropriate expenditures. PREPARED BY: Bradley Muckel, Project Manager, Immokalee CRA Attachments: I. Property Appraisals wI Location Maps (2) 2. Signed Purchase Agreements (2) ~. 2 Item Number: Item Summary: Meeting Date: Agenda Item No. 14A October 12, 2010 Page 3 of 44 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS 14A Recommendation that the Community Redevelopment Agency (CRA) approve the purchase of mo adjoining vacant parcels at the corner of South 9th Street and West Eustis Avenue as part of the downtown Immokalee portion of the Immokalee StormWater Master Plan, and authorize all necessary budget amendments to recognize the total grant award in the amount of $3,533, 124 and appropriate expenditures. This purchase will be funded by a dedicated Immokalee Community Redevelopment Agency Grant Fund (715)with a subsequent reimbursement from the CDBG/DRI Grant Fund (705) in the amount of $474,000 (plus associated closing costs). 10/12/20109:00:00 AM Prepa red By Bradley Muckel Immokalee County Redevelopment Agency Project Manager lmmokalee County Redevelopment Agency Date 9129120109:51:07 AM Approved By Penny Phillippi Immokalee County Redevelopment Agency Executive Director, Immokalee eRA Immokalee County Redevelopment Agency Date 10/41201010:26 AM Approved By OMS Coordinator County Manager's Office Date Office of Management & Budget 10/41201011:17 AM Approved By Frank Ramsey Public Services Division Manager - Housing Development Date Human Services 10/5/20101:29 PM Approved By Lisa Oien Public Services Division Grants Support Specialist Date Human Services 1015120101:30 PM Approved By Steven Williams County Attorney Assistant County Attorney Date County Attorney 1015120101:51 PM Approved By Marlene McLaughlin Administrative Services Division Property Acquisition Specialist Date Facilities Management 1015/20102:06 PM Approved By Marlene J. Foard Grant Development & Mgmt Coordinator Date Administrative Services Division Agenda Item 1'0. 14A October 12, 2010 Page 4 of 44 Administrative Services Division 10/5/2010 4: 26 PM Approved By Sherry Pryor Office of Management & Budget Management/Budget Analyst, Senior Date Office of Management & Budget 10/6120108:34 AM Approved By Jennifer White Assistant County Attorney Date County Attorney County Attorney 1016120109:13 AM Approved By Leo E. Ochs, Jr. County Manager Date County Managers Office County Managers Office 10/61201011:26 AM Project: Coliier County Redevelopment Agency/lmmokalee CRA Folio Number: 00126040009 Agenda Item NO.1 A October 12, 20 0 Page 5 of 4 AGREEMENT FOR SALE AND PURCHASE THIS AGREEMENT is made and entered into by and between RSG FAMILY LIMITED PARTNERSHIP-INVESTMENT LAND, a Florida limited partnership, whose mailing address IS 402 11- Street North, Naples, Florida 34102 (hereinafter referred to as "Seller"), and IMMOKALEE AREA COMMUNITY REDEVELOPMENT AGENCY (CRA), whose mailing address is 310 Alachua Street, Immokalee, Florida 34142 (hereinafter referred to as "Purchase('). WITNESSETH WHEREAS, Seller is the owner of that certain real property (hereinafter referred to as "Property"), located in Collier County, State of Florida, and being more particularly described as follows: See attached Exhibit "A" which is incorporated herein by reference WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions and other agreements hereinafter set forth, and Seller is agreeable to such sale and to such conditions and agreements. WHEREAS, a Disaster Recovery Initiative Grant, #10-DB-D4-09-21-01-K09, dated June 21, 2010 by and between the Collier County Board of Commissioners and the Department of Community Affairs is the Collier County Community Redevelopment Agency's source of funding fDr this purchase. NOW, THEREFORE, and for and in consideration of the premises and the respective undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00), the receipt and sufficiency Df which is hereby acknowledged, it is agreed as follows: I. AGREEMENT 1.01 In consideration of the purchase price and upon the terms and conditions hereinafter set forth, Seller shall sell tD Purchaser and Purchaser shaH purchase from Seller the Property. II. PAYMENT OF PURCHASE PRICE 2.01 The purchase price (the "Purchase Price") for the Property shall be Three Hundred and Seventy Thousand and no/100 Dollars ($370,000.00) U.S. Currency payable at time of closing. III. CLOSING 3.01 The Closing (THE "CLOSING DATE", "DATE OF CLOSING", OR "CLOSING") of the transaction shall be held Dn or before ninety (90) days following execution of this Agreement by the Purchaser, unless extended by mutual written agreement of the parties hereto. The Closing shall be held at the Collier County Attorney's Office, Administration Building, 3301 Tamiami Trail East, Naples, Florida. The procedure to be followed by the parties in connection with the Closing shall be as follows: 3.011 Seiler shail convey a marketabie title free of any liens. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar and in accordance with law. At the Closing, the Seller shall cause to be delivered to the Purchaser the items speCified herein and the following documents and instruments duly executed and acknowledged, in recordable form: 3.0112 Warranty Deed in favor of Purchaser conveying tItle to the Property, free and clear of all liens and encumbrances other than: (a) The lien for current taxes and assessments. (b) Such other easements, restrictions or conditions of record. 3.0113 Combined Purchaser~Seller closing statement 1 Agenda Item No. 1lA October 12. 2010 Page 6 ofi44 I I I 3.0114 A "Grantor's Non-Foreign, Tax Payer Identification & "GAP" Affidavit as required by Section 1445 of the Internal Revenue Code and as required by the title insurance underwriter in order to insure the "gap" and issue the policy contemplated by the title insurance commitment. 3.0115 A W-9 Form, "Request for Taxpayer Identification and Certification" as required by the Internal Revenue Service. 3.012 At the Closing, the Purchaser, or lis assignee, shall cause to be delivered to the Seller the following: 3_0121 A wire transfer or County Warrant in an amount equal to the Purchase Price. No funds shall be disbursed to Seller until the Title Company verifies that the state of the title to the Property has not changed adversely since the date of the last endorsement to the commitment, referenced in Section 4.011 thereto, and the Title Company is irrevocably committed to pay the Purchase Price to Seller and to issue the Owner's title policy to Purchaser in accordance with the commitment immediately after the recording of the deed. 3.0122 Funds payable to the Seller representing the cash payment due at Closing in accordance with Article III hereof, shall be subject to adjustment for prorations as hereinafter set forth. 3.02 Each party shall be responsible for payment of its own attorney's fees. Seller, at its sole cost and expense, shall pay at Closing all documentary stamp taxes due upon the recording of the Warranty Deed, in accordance with Chapter 201.01, Florida Statutes. and the cost of recording any instruments necessary to clear Seller's title to the Property. The cost of the Owner's Form B Title Policy, issued pursuant to the Commitment provided for in Section 4.011 below, shall be paid by Purchaser. The cost of the title commitment shall also be paid by Purchaser 3.03 Purchaser shall pay for the cost of recording the Warranty Deed. Real Property taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and any other applicable exemptions and paid by Seller. If Closing occurs at a date on which the current year's millage is not fixed. taxes will be prorated based upon such prior year's millage. IV. REQUIREMENTS AND CONDITIONS 4.01 Upon execution of this Agreement by both parties or at such other time as specified within this Article. Purchaser and/or Seller, as the case may be, shall perform the following within the times stated, which shall be conditions precedent to the Closing: 4_011 Within fifteen (15) days atter the date hereof, Purchaser shall obtain as evidence of title an AL TA Commitment for an Owner's Title Insurance Policy (AL TA Form B~1970) covering the Property, together with hard copies of all exceptions shown thereon. Purchaser shall have thirty (30) days, following receipt of the title insurance commitment, to notify Seller in writing of any objection to title other than liens evidencing monetary obligations, if any, which obligations shall be paid at Closing. If the title commitment contains exceptions that make the title unmarketable, Purchaser shall deliver to the Seller written notice of Its intention to waive the applicable contingencies or to terminate this Agreement. 4_012 If Purchaser shall fail to advise the Seller in writing of any such objections in Seller's title in the manner herein required by this Agreement, the title shall be deemed acceptable. Upon notification of Purchaser's objection to title, Seller shall have thirty (30) days to remedy any defects in order to convey good and marketable title, except for liens or monetary obligations which will be satisfied at Closing. Seller, at its sole expense, shall use its best efforts to make such title good and marketable. In the event Seller is unable to cure said objections within said time period, Purchaser, by providing written notice to Seller within seven (7) days after expiration of said thirty (30) day pen ad, may accept title as it then is, waiving any objection; or Purchaser may terminate the Agreement. A failure by Purchaser to give such written notice of termination within the time period provided herein shall be deemed an election by Purchaser to accept the exceptions to title as shown in the title commitment , I Agenda Item No. 114A October 12, 2010 4.013 Seller agrees to furnish any existing surveys of the Property in Seller's Page 70f44 possession to Purchaser within 10 (ten) days of the effective date of this Agreement. Purchaser shall have the option, at its own expense, to obtain a current survey of the Property prepared by a surveyor licensed by the State of Fiorida. No adjustments to the Purchase Price shall be made based upon any change to the total acreage referenced in Exhibit "A," unless the difference in acreage revealed by survey exceeds 5% of the overall acreage. If the survey provided by Seller or obtained by Purchaser, as certified by a registered Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an improvement located on the Property projects onto lands of others, or (c) lack of iegal access to a public roadway, the Purchaser shall notify the Seller in writing of such encroachment, projection, or lack of legal access, and Seller shall have the option of curing said encroachment or projection, or obtaining legal access to the Property from a public roadway, within thirty (30) days of receipt of said written notice from Purchaser. Purchaser shall have thirty (30) days from the effective date of this Agreement to notify Seller of any such objections. Should Seller elect not to or be unable to remove the encroachment, projection, or provide legal access to the property within said thirty (30) day period, Purchaser, by providing written notice to Seller within seven (7) days after expiration of said thirty (30) day period, may accept the Property as it then is, waiving any objection to the encroachment, or projection, or lack of legal access, or Purchaser may terminate the Agreement. A failure by Purchaser to give such written notice of termination within the time period provided herein shall be deemed an eleelion by Purchaser to accept the Property with the encroachment, or projection, or lack of legal access. V. INSPECTION PERIOD 5.01 Purchaser shall have sixty (60) days from the date of this Agreement, ("Inspection Period"), to determine through appropriate investigation that: 1. Soil tests and engineering studies indicate that the Property can be developed without any abnormal demucking, soil stabilization or foundations. 2. There are no abnormal drainage or environmental requirements to the development of the Property. 3. The Property is in compliance with all applicable State and Federal environmental laws and the Property is free from any pOllution or contamination. 4. The Property can be utilized for its intended purpose. 5.02 If Purchaser is not satisfied, for any reason whatsoever, with the results of any investigation, Purchaser shall deliver to Seller prior to the expiration of the Inspection Period, written notice of its intention to terminate this Agreement. If Purchaser fails to notify the Seller in writing of its specific objections as provided herein within the Inspection Period, it shall be deemed that the Purchaser is satisfied with the results of its investigations and the contingencies of this Article V shall be deemed waived. In the event Purchaser elects to terminate this Agreement because of the right of inspection, Purchaser shall deliver to Seller copies of all engineering reports and environmental and soil testing results commissioned by Purchaser with respect to the Property. 5.03 Purchaser and its agents, employees and servants shall, at their own risk and expense, have the right to go upon the Property for the purpose of surveying and conducting site analyses, soil borings and all other necessary investigation. Purchaser shall, in performing such tests, use due care not to damage property. Seller shall be notified by Purchaser no less than twenty-four (24) hours prior to said inspection of the Property. VI. INSPECTION 6.01 Seller acknOWledges that the Purchaser, or its authorized agents, shall have the right to inspect the Property at any time prior to the Closing. VII. POSSESSION 7.01 Purchaser shall be entitled to full possession of the Property at Closing. VIII. PRORATIONS 8.01 Ad valorem taxes next due and payable, after closing on the Property, shall be prorated at Closing based upon the gross amount of 2007 taxes, and shall be paid by Seller. 3 IX. TERMINATION AND REMEDIES Agenda Item No. 14A October 12, 2010 Page 8 of 44 9.01 If Seller shall have failed to perform any of the covenants and/or agreements contained herein which are to be performed by Seller, within ten (10) days of written notification of such failure, Purchaser may, at its option, terminate this Agreement by giving written notice of termination to Seller. Purchaser shall have the right to seek and enforce all rights and remedies available at law or in equity to a contract vendee, including the right to seek specific performance of this Agreement. 9.02 If Purchaser has not terminated this Agreement pursuant to any of the provisions authorizing such termination, and Purchaser fails 10 close the transaction contemplated hereby or otherwise fails to perform any of the terms, covenants and conditions of this Agreement as required on the part of Purchaser to be performed, provided Seller is not in default, then as Seller's sole remedy, Seller shall have the right to terminate and cancel this Agreement by giving written notice thereof to Purchaser, and neither party shall have any further liability or obligation to the other except as set forth in paragraph 12.01 (Real Estate Brokers) hereof. 9.03 The parties acknowledge that the remedies described herein and in the other provisions of this Agreement provide mutually satisfactory and sufficient remedies to each of the parties, and take into account the peculiar risks and expenses of each of the parties. X. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES 10.01 Seller and Purchaser represent and warrant the following: 10.011 Seller and Purchaser have full nght and authonty to enter into and to execute this Agreement and to undertake all actions and to perform arr tasks required of each hereunder. Seller is not presently the subject of a pending, threatened or contemplated bankruptcy proceeding. 10.012 Seller has full right, power. and authority to own and operate the Property, and to execute, deliver, and perform its obligatJons under this Agreement and the instruments executed in connection herewith, and to consummate the transaction contemplated hereby. All necessary authorizations and approvals have been obtained authorizing Seller and Purchaser to execute and consummate the transaction contemplated hereby. At Closing, certified copies of such approvals shall be delivered to Purchaser and/or Seller, if necessary. 10.013 The warranties set forth in this paragraph shall be true on the date of this Agreement and as of the date of Closing. Purchaser's acceptance of a deed to the said Property shall not be deemed to be full performance and discharge of every agreement and obligation on tile part of the Seller to be performed pursuant to the provisions of this Agreement. 10,014 Seller represents that it has no knowledge of any actions, suits, claims, proceedings. litigation or investigations pending or threatened against Seller, at law, equity or in arbitration before or by any federal, state, muniCIpal or other governmental instrumentality that relate to this agreement or any other property that could, if continued, adversely affect Seller's ability to sell the Property to Purchaser according to the terms of this Agreement 10015 No party or person other than Purchaser has any right or option to acquire the Property or any portion thereof 10.016 Until the date fixed for Closing. so long as this Agreement remains in force and effect, Seller shall not encumber or convey any portion of the Property or any rights therein, nor enter into any agreements granting any person or entity any rights with respect to the Property or any part thereof, without first obtaining the written consent of Purchaser to such conveyance, encumbrance, or agreement which consent may be withheld by Purchaser for any reason whatsoever. 10.017 To the best of Seller's knowledge, Seller represents that there are no Incinerators, septic tanks or cesspools on the Property; all waste, if any, is discharged into a public sanitary sewer system; Seller represents that it has no knowledge that any pollutants are or have been discharged from the Property, directly or indirectly into any body of water Seller represents the Property has not been used for the production, handling, storage, transportation, manufacture or disposal of hazardous or toxic substances or wastes, as such terms are defined in applicable laws and regulations, or any other activity that would have toxic results, and no such hazardous 4 Agenda Item No. 14A October 12, 2 10 or toxic substances are currently used in connection with the operation of the Page 9 0 44 Property, and there is no proceeding or inquiry by any authority with respect thereto. Seller represents that it has no knowledge that there is ground water contamination on the Property or potential of ground water contamination from neighboring properties. Seller represents no storage tanks for gasoline or any other substances are or were located on the Property at any time during or prior to Seller's ownership thereof. Seller represents none of the Property has been used as a sanitary landfill. 10.018 Seller has no knowledge that the Property and Seller's operations concerning the Property are in violation of any applicable Federal, State or local statute, law or regulation, or of any notice from any governmental body has been served upon Seller claiming any violation of any law, ordinance, code or regulation or requiring or caJllng attention to the need for any work, repairs, construction, alterations or installation on or in connection with the Property in order to comply with any laws, ordInances, codes or regulation with which Seller has not complied. 10.019 There are no unrecorded restrictions, easements or rights of way (other than existing zoning regulations) that restrict or affect the use of the Property, and there are no maintenance, construction, advertising, management, leasing, employment, service or other contracts affecting the Property. 10.020 Seller has no knowledge that there are any suits, actions or arbitration, bond issuances or proposals thereof, proposals for public improvement assessments, pay~back agreements, paving agreements, road expansion or improvement agreements, utility moratoriums, use moratoriums, improvement moratoriums, administrative or other proceedings or governmental investigations or requirements, formal or informal, existing or pending or threatened which affects the Property or which adversely affects Seller's ability to perform hereunder; nor is there any other charge or expense upon or related to the Property which has not been disclosed to Purchaser in writing prior to the effective date of this Agreement. 10.021 Seller acknowledges and agrees that Purchaser is entering into this Agreement based upon Seller's representations stated above and on the understanding that SeUer will not cause the zoning or physical condition of the Property to change from its existing state on the effective date of this Agreement up to and including the Date of Closing. Therefore, Seller agrees not to enter into any contracts or agreements pertaining to or affecting the Property and not to do any act or omit to perform any act which would change the zoning or physical condition of the Property or the governmental ordinances or laws governing same. Seller also agrees to notify Purchaser promptly of any change in the facts contained in the foregoing representations and of any notice or proposed change in the zoning, or any other action or notice, that may be proposed or promulgated by any third parties or any governmental authorities having jurisdiciion of the development of the property which may restrict or change any other condition of the Property. 10.022 At the Closing, Seller shall deliver to Purchaser a statement (hereinafter called the "Closing Representative Statement") reasserting the foregoing representations as of the Date of Closing, which provisions shall survive the Closing. 10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend and hold Purchaser harmless from any and all costs (including attorney's fees) asserted against, imposed on or incurred by Purchaser, directly or indirectly. pursuant to or in connection with the application of any federal, state, local or common law relating to pollution or protection of the environment which shall be in accordance with, but not limited to, the Comprehensive Environmental Response, Compensation, and liability Act of 1980,42 U.SC. Section 9601, et seq., ("CERCLA" or "Superfund"). which was amended and upgraded by the Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including any amendments or successor in function to these acts. This provision and the rights of Purchaser, hereunder, shall survive Closing and are not deemed satisfied by conveyance of title. 10.024 Any loss and/or damage to the Property between the date of this Agreement and the date of Closing shall be Seller's sole risk and expense. 10.025 Neither party shall occupy or cause or permit others to occupy the Property prior to closing and funding, and will not occupy or cause or pennit others to occupy the Property until after the closing. 5 XI. NOTICES Agenda item No. 4A October 12, 2 10 Page 10 0 44 11.01 Any notice, request, demand, instruction or other communication to be given to either party hereunder shall be in writing, sent by facsimile with automated confirmation of transmission. or by registered, or certified mail, return receipt requested, postage prepaid, addressed as follows: If to Purchaser: Marlene J. McLaughlin Collier County Real Property Management 3301 Tamiami Trail East, Building W Naples, Florida 34112 (239) 252-8991 Phone (239) 252-8876 Fax With a copy 10: Jennifer B. White, Assistant County Attorney Office of the County Attorney 3301 Tamiami Trail East, Building F Naples, Florida 34112 (239) 252-8400 Phone (239) 774-0225 Fax If to Seller: Andrew Wright Franklin Financial Partners 5420 Bay Center Drive, Suite 100 Tampa, Florida 33609 (813)839-7300 Notice will be deemed received upon completion of facsimile transmission with automated confirmation, or after five (5) days of postmarking of Registered or Certified mail 11.02 The addressees and numbers for the purpose of this Article may be changed by either party by giving written notice of such change to the other party in the manner provided herein. For the purpose of changing such addresses or addressees only, unless and until such written notice is received, the last addressee and respective address stated herein shall be deemed to continue in effect for all purposes XII. REAL ESTATE BROKERS 12.01 Any and all brok.erage commissions or fees shall be the sole responsibility of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from and against any claim or liability for commission or fees to any broker or any other person or party claiming to have been engaged by Seller as a real estate broker, salesman Of representative, In connection with thiS Agreement. XIII. MISCELLANEOUS 13.01 This Agreement may be executed In any manner of counterparts which together shall constitute the agreement of the parties. 13.02 ThIS Agreement and the terms and provisions hereof shall be effective as of the date this Agreement is executed by both parties and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustee, and assignees whenever the context so requires or admits 13.03 Any amendment to this Agreement shall not bind any of the parties hereof unless such amendment is in writing and executed and dated by Purchaser and Seller. Any amendment to this Agreement shall be binding upon Purchaser and Seller as soon as it has been executed by both parties. 13.04 Captions and section headings contained in this Agreement are for convenience and reference only; in no way do they define, describe, extend or limit the scope or intent of this Agreement or any provisions hereof. 13.05 All terms and words used in this Agreement, regardless of the number and gender in which used, shall be deemed to include any other gender or number as the context or the use thereof may require. 13.06 No waiver of any provision of thiS Agreement shall be effective unless it is in writing signed by the party against whom it is asserted, and any waiver of any provision of this Agreement shall be applicable only to the specific instance to which it is related and shall 6 Agenda Item No. 4A October 12, 2 10 not be deemed to be a continuing or future waiver as to such provision or a waiver as to Page 11 0 44 any other provision. 13.07 If any date specified in this Agreement falls on a Saturday, Sunday or legal hoiiday, then the date to which such reference is made shall be extended to the next succeeding business day. 13.08 Seller is aware of and understands that the "offer" to purchase represented by this Agreement is subject to acceptance and approval by the Board of County Commissioners of Collier County, Florida. 13.09 This Agreement is governed and construed in accordance with the laws of the State of Florida. XIV. ENTIRE AGREEMENT 14.01 This Agreement and the exhibits attached hereto contain the entire agreement between the parties, and no promise, representation, warranty or covenant not included in this Agreement or any such referenced agreements has been or is being relied upon by either party. No modification or amendment of this Agreement shall be of any force or effect unless made in writing and executed and dated by both Purchaser and Seller. Time is of the essence of this Agreement. IN WITNESS WHEREOF, the parties hereto have signed below. Dated ProjectJAcquisition Approved by BCC: AS TO PURCHASER: DATED' ATTEST: DWiGHT E. BROCK, Clerk IMMOKALEE AREA COMMUNiTY REDEVELOPMENT AGENCY (CRA) BY: Donna Fiala, Chairman , Deputy Clerk /1 V) RSG FAMILY LIMITED PARTNERSHIP INVESTMENT-LAND, a Florida limited partnership ~. BY: Barfieid BaY!::61<lings, Inc., a Florida \ corpor~o" \ts.ge,\eral partner , \ \; I \ ) By'N\-N '. / Ronald L. GI~resldent AS TO SELLER: Approved as 10 form and \\ -{'-)~e~~ , Jennifer S,iA/tule, Assistant County Attorney 7 Exhibit "A" Agenda Item No. 14A October 12, 2010 Page 12 of,44 I j I i Parcel No.: 00126040009 The Southwest % of the Southwest y.. of the Southeast X of Section 4, Township 47 South, Range 29 East, Collier County, Florida. LESS AND EXCEPT, those parcels conveyed to Collier County, a political subdivision of the State of Florida recorded in Official Records Book 58, page 337 and Official Records Book 123, page 219, described as follows: The South 30 feet. the North 30 feet and the West 30 feet of the South Y, of the Southwest Y. of the Southeast y.. of Section 4, Township 47 South, Range 29 East, Tallahassee Meridian, Collier County, Florida. 8 Agenda Item No. 14A October 12, 2010 Page 13 of 44 Collier County Redevelopment Agency/lmmokalee CRA Folio Number: 00126040009 ADDENDUM THIS ADDENDUM is entered into thi;?'O ~ay of ~~&....--, 2010, by and between RSG Family Limited Partnership-Investment Land, a Florida limited partnership, Seller, and Immokalee Area Community Redevelopment Agency (CRA), Purchaser. Seller and Purchaser have entered into that certain Agreement for Sale and Purchase of even date herewith between the Undersigned Parties concerning the following described Real Property: The Southwest Y. of the Southwest Y. of the Southeast Y. of Section 4, Township 47 South, Range 29 East, Collier County, Florida. LESS AND EXCEPT, those parcels conveyed to Collier County, a political subdivision of the State of Florida recorded in Official Records Book 58, page 337 and Official Records Book 123, page 219, described as follows: The South 30 feet, the North 30 feet and the West 30 feet of the South 'h of the Southwest Y. of the Southeast Y. of Section 4, Township 47 South, Range 29 East, Tallahassee Meridian, Collier County, Florida. Subsequent to entering into the Agreement and pursuant to provisions of the Agreement, Seller and Purchaser wish to amend the Agreement with the following term and condition: 1. It is the intention of the parties that the closing of the transaction contemplated herein is contingent upon the simultaneous closing of the transaction contemplated in that certain Agreement for Sale and Purchase of even date herewith concerning: A parcel of land lying in and being a part of the Southeast Y. of the Southwest Y. of the Southeast Y. of Section 4, Town5hip 47 South, Range 29 East, Collier County, Florida and being more particularly described as follows: Commence at the Southwest corner of the Southeast Y. of the Southwest Y. of the Southeast Y. of Section 4: thence North 00002'00" West along the West line of the Southeast Y. of the Southwest Y. of the Southeast Y. of said Section 4, a distance of 307 09 feet to the Point of Beginning; thence continue North 00002'00" West along the said West line, a distance of 325.54 feet; thence South 89059'56" East, along a line 30.00 feet South of and parallel to the North line of the Southeast Y. of the Southwest Y. of the Southeast Y. of Said Section 4, a distance of 360.48 feet; thence South 00002'00" East, a distance of 185.48 feet; thence South 44059'28" West, a distance of 198.22 feet; thence South 89045'38" West, a distance of 220.24 feet to the Point of Beginning. Except as expressly provided herein, the Agreement between the Purchaser and the Seller remains in full force and effect according to the terms and conditions contained therein, and said terms and conditions are applicable hereto except as expressly provided otherwise herein. Agenda Item No. 14A October 12, 2010 Page 14 of 44 IN WITNESS WHEREOF, the Purchaser and Seller have hereto executed this Addendum the day and year first above written. AS TO PURCHASER: DATED: ATTEST: DWIGHT E. BROCK, Clerk IMMOKALEE AREA COMMUNITY REDEVELOPMENT AGENCY (CRA) BY: Donna Fiala, Chairman , Deputy Clerk AS TO SELLER: DATED CJ I ~ ], 0 RSG FAMILY LIMITED PARTNERSHIP- INVESTMENT LAND, a Florida limited partnership ,\ BY: Barfield Bay Idings, Inc., \ 'corporation. i enera partner ~\ "Sl~) Ronald L s, President , \ \ , a Florida Approved as to form and legal sufficiency: ~~\0~ Jennife . White Assistant County Attorney Project: Coilier County Redevelopment Agency~mmokalee CRA Folio Number: 00127565101 Agenda Item No. 4A October 12, 2 10 Page 150 44 AGREEMENT FOR SALE AND PURCHASE THIS AGREEMENT is made and entered into by and between RSG FAMILY LIMITED PARTNERSHIP-INVESTMENT LAND, a Florida limited partnership, whose mailing address is 402 11th Street North, Naples, Florida 34102 (hereinafter referred to as "Seller"), and IMMOKALEE AREA COMMUNITY REDEVELOPMENT AGENCY (CRA), whose mailing address is 310 Alachua Street, Immokalee, Florida 34142 (hereinafter referred to as "Purchaser"). WiTNESSETH WHEREAS, Seller is the owner of that certain real property (hereinafter referred to as "Property"), located in Collier County, State of Florida, and being more particularly described as follows: See attached Exhibit "A" which is incorporated herein by reference WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions and other agreements hereinafter set forth, and Seller is agreeable to such sale and to such conditions and agreements. WHEREAS, a Disaster Recovery Initiative Grant, #10-DB-D4-09-21-01-K09, dated June 21, 2010 by and between the Collier County Board of Commissioners and the Department of Community Affairs is the Collier County Community Redevelopment Agency's source of funding for this purchase. NOW, THEREFORE, and for and in consideration of the premises and the respective undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10,00), the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows: I. AGREEMENT 1,01 In consideration of the purchase price and upon the terms and conditions hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase from Seller the Property. II. PAYMENT OF PURCHASE PRICE 2.01 The purchase price (the "Purchase Price") for the Property shall be One Hundred Four Thousand and no/100 Dollars ($104,000.00) US. Currency payable at time of closing. III. CLOSING 3.01 The Closing (THE "CLOSING DATE", "DATE OF CLOSING", OR "CLOSING") of the transaction shall be held on or before ninety (90) days following execution of this Agreement by the Purchaser, unless extended by mutual written agreement of the parties hereto. The Ciosing shall be held at the Coliier County Attorney's Office, Administration Building, 3301 Tamiami Trail East, Naples, Florida. The procedure to be followed by the parties in connection with the Closing shall be as follows: 3.011 Seller shall convey a marketable title free of any liens. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar and in accordance with law. At the Closing, the Seller shall cause to be delivered to the Purchaser the items specified herein and the following documents and instruments duly executed and acknowledged, in recordable form: 3.0112 Warranty Deed in favor of Purchaser conveying title to the Property, free and clear of all liens and encumbrances ather than: (a) The lien for current taxes and assessments. (b) Such other easements, restrictions or conditions of record. 1 3.0113 Combined Purchaser-Seller closing statement. Agenda Item No. 4A October 12, 2 10 Page16044 3.0114 A "Grantor's Nan-Foreign, Tax Payer Identification & "GAP" Affidavit as required by Section 1445 of the Intemal Revenue Code and as required by the title insurance underwriter in order to insure the "gap" and issue the policy contemplated by the title insurance commitment. 3.0115 A W-9 Form, "Request for Taxpayer Identification and Certification" as required by the Intemal Revenue Service 3.012 At the Closing, the Purchaser, or its assrgnee, shall cause to be delivered to the Seller the following: 3.0121 A wire transfer or County Warrant in an amount equal to the Purchase Price. No funds shall be disbursed to Seller until the Title Company verifies that the state of the title to the Property has not changed adversely since the date of the last endorsement to the commitment, referenced in Section 4.011 thereto, and the Title Company is irrevocably committed to pay the Purchase Price to Seller and to issue the Owner's title policy to Purchaser in accordance with the commitment immediately after the recording of the deed. 3.0122 Funds payable to the Seller representing the cash payment due at Closing in accordance with Article III hereof, shall be subject to adjustment for prorations as hereinafter set forth. 302 Each party shall be responsible for payment of its own attorney's fees. Seller, at its sole cost and expense, shall pay at Closing all documentary stamp taxes due upon the recording of the Warranty Deed, in accordance with Chapter 201.01, Florida Statutes, and the cost of recording any instruments necessary to clear Seller's title to the Property, The cost of the Owner's Form B Title Policy, Issued pursuant to the Commitment provided for in Section 4.011 below, shall be paid by Purchaser. The cost of the title commitment shall also be paid by Purchaser. 3.03 Purchaser shall pay for the cost of recording the Warranty Deed Real Property taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and any other applicable exemptions and paid by Seller. If Closing occurs at a date on which the current year's millage is not fixed, taxes will be prorated based upon such prior year's millage. iV. REQUIREMENTS AND CONDITIONS 4.01 Upon execution of this Agreement by bath parties or at such other time as specified within this Article, Purchaser and/or SelJer, as the case may be, shall perform the following within the times stated, which shall be conditions precedent to the Closing: 4011 Within fjfteen (15) days after the date hereof, Purchaser shall obtain as evidence of title an AL TA Commitment for an Owner's Title Insurance POlicy (AL TA Form B-1970) covering the Property. together with hard copies of all exceptions shown thereon. Purchaser shall have thirty (30) days, follOWIng receipt of the title msurance commitment, to notify Seller in writing of any objection to title other than liens evidencing monetary obligations, if any, which obligations shall be paid at Closing, If the title commitment contains exceptions that make the title unmarketable, Purchaser shall deliver to the Seller written notice of its intention to waive the applicable contingencies or to terminate this Agreement. 4.012 If Purchaser shall fail to advise the Seller in writing of any such objections in Seller's title in the manner herein required by this Agreement, the title shall be deemed acceptable. Upon notification of Purchaser's objection to title, Seller shall have thirty (30) days to remedy any defects in order to convey good and marketable title, except for liens or monetary obligations which will be satisfied at Closing. Seller, at its sole expense, shall use its best efforts to make such tiUe good and marketable. In the event Seller is unable to cure said objections within said time period, Purchaser, by providing written notice to Seller within seven (7) days after expiration of said thirty (3D) day period, may accept title as it then is. waiving any objection; or Purchaser may terminate the Agreement. A failure by Purchaser to give such written notice of termination within the time period prOVided herein shall be deemed an election by Purchaser to accept the exceptions to title as shown in the title commitment. 2 Agenda Item No. 4A 4.013 Seller agrees to furnish any existing surveys of the Property in Seller'e:lctober 12, 2 10 possession to Purchaser within 10 (ten) days of the effective date of this Agreement. Page 17 0 44 Purchaser shall have the option, at its own expense, to obtain a CUlTent survey of the Property prepared by a surveyor licensed by the State of Florida. No adjustments to the Purchase Price shall be made based upon any change to the total acreage referenced in Exhibit "A," unless the difference in acreage revealed by survey exceeds 5% of the overall acreage. If the survey provided by Seller or obtained by Purchaser, as certified by a registered Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an improvement located on the Property projects onto lands of others, or (c) lack of legai access to a public roadway, the Purchaser shall notify the Seller in writing of such encroachment, projection, or lack of legal access, and Seller shall have the option of curing said encroachment or projection, or obtaining legal access to the Property from a public roadway, within thirty (30) days of receipt of said written notice from Purchaser. Purchaser shall have thirty (30) days from the effective date of this Agreement to notify Seller of any such objections. Should Seller elect not to or be unable to remove the encroachment, projection, or provide legal access to the property within said thirty (30) day period, Purchaser, by providing written notice to Seller within seven (7) days after expiration of said thirty (30) day period, may accept the Property as it then is, waiving any objection to the encroachment, or projection, or lack of legal access, or Purchaser may terminate the Agreement. A failure by Purchaser to give such written notice of termination within the time period provided herein shall be deemed an election by Purchaser to accept the Property with the encroachment, or projection, or lack of legal access. V. INSPECTION PERIOD 5.01 Purchaser shall have sixty (60) days from the date of this Agreement, ("Inspection Period"), to determine through appropriate investigation that: 1. Soil tests and engineering studies indicate that the Property can be developed without any abnormal demucking, soil stabilization or foundations. 2. There are no abnormal drainage or environmental requirements to the development of the Property. 3. The Property is in compliance with all applicable State and Federal environmental laws and the Property is free from any pollution or contamination. 4. The Property can be utilized for its intended purpose. 5.02 If Purchaser IS not satisfied, for any reason whatsoever, with the results of any investigation, Purchaser shall deliver to Seller prior to the expiration of the Inspection Period, written notice of its intention to terminate this Agreement. If Purchaser fails to notify the Seller in writing of its specific objections as provided herein within the Inspection Period, it shall be deemed that the Purchaser is satisfied with the results of its investigations and the contingencies of this Article V shall be deemed waived. In the event Purchaser elects to terminate this Agreement because of the right of inspection, Purchaser shall deliver to Seller caples of all engineering reports and environmental and soil testing results commissioned by Purchaser With respect to the Property. 5.03 Purchaser and its agents, employees and servants shall, at their own risk and expense, have the right to go upon the Property for the purpose of surveying and conducting site analyses, soil borings and all other necessary investigation. Purchaser shall, in performing such tests, use due care not to damage property. Seller shall be notified by Purchaser no less than twenty-four (24) hours prior to said inspection of the Property. VI. INSPECTION 6,01 Seller acknowledges that the Purchaser, or its authorized agents, shall have the right to inspect the Property at any time prior to the Closing. VII. POSSESSION 7. 01 Purchaser shall be entitled to full possession of the Property at Closing. VIII. PRORATIONS 8.01 Ad valorem taxes next due and payable, after closing on the Property, shall be prorated at Closing based upon the gross amount of 2007 taxes. and shall be paid by Seller. , . " Agenda item No. 4A October 12. 2 10 Page 18 0 44 IX. TERMINATION AND REMEDIES 9.01 If Seller shall have failed to perform any of the covenants and/or agreements contained herein which are to be performed by Seller, within ten (10) days of written notification of such failure, Purchaser may, at its option, terminate this Agreement by giving written notice of termination to Seller. Purchaser shall have the fight to seek and enforce all rights and remedies available at law or In equity to a contract vendee, including the right to seek specific performance of this Agreement. 9.02 If Purchaser has not terminated this Agreement pursuant to any of the provisions authorizing such termination, and Purchaser falls to close the transaction contemplated hereby or otherwise fails to perform any of the terms, covenants and conditions of this Agreement as required on the part of Purchaser to be performed, provided Seller is not in default, then as Seller's sole remedy, Seller shall have the right to terminate and cancel this Agreement by giving written notice thereof to Purchaser, and neither party shaH have any further liability or obligation to the other except as set forth in paragraph 12.01 (Real Estate Brokers) hereof. 9.03 The parties acknowledge that the remedIes described herein and in the other provisions of this Agreement provide mutually satisfactory and sufficient remedies to each of the parties, and take into account the peculiar risks and expenses of each of the parties. X. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES 10.01 Seller and Purchaser represent and warrant the following: 10.011 Seller and Purchaser have full right and authority to enter into and to execute this Agreement and to undertake all actions and to perform all tasks required of each hereunder, Seller is not presently the subject of a pending, threatened or contemplated bankruptcy proceeding. 10.012 Seller has full right, power, and authority to own and operate the Property, and to execute, deliver, and perform its obligations under this Agreement and the instruments executed in connection herewith, and to consummate the transaction contemplated hereby All necessary authorizations and approvals have been obtained authorizing Seller and Purchaser to execute and consummate the transaction contemplated hereby. At Closing, certified copies of such approvals shall be delivered to Purchaser and/or Seller, if necessary 10.013 The warranties set forth in this paragraph shall be true on the date of this Agreement and as of the dale of Closing. Purchaser's acceptance of a deed to the said Property shall not be deemed to be full performance and discharge of ever; agreement and obligation on the part of the Seller to be performed pursuant to the provisions of thIs Agreement. 10.014 Seller represents that it has no knowledge of any actions, suits, claims, proceedings, litigation or investigations pending or threatened against Seller, at law, equity or in arbitration before Dr by any federal, state, municipal or other governmental instrumentality that relate to this agreement or any other property that could, if continued, adversely affect Seller's ability to sell the Property to Purchaser according to the terms of this Agreement 10.015 No party or person other than Purchaser has any right or option to acquire the Property or any portIon thereof 10,016 Until the date fixed for Closing, so long as this Agreement remains in force and effect, Seller shall not encumber or convey any portion of the Property or any rights therein, nor enter into any agreements granting any person or entity any rights with respect to the Property or any part thereof, without first obtaining the written consent of Purchaser to such conveyance, encumbrance, or agreement which consent may be WIthheld by Purchaser for any reason whatsoever. 10.017 To the best of Seller's knowledge, Seller represents that there are no incinerators, septic tanks or cesspools on the Property: all waste, if any, is discharged into a public sanitary sewer system; Seller represents that it has no knowledge that any pollutants are or have been discharged from the Property, directly or indirectly into any body of water. Seller represents the Property has not been used for the production, handling, storage, transportation, manufacture or disposal of hazardous or tOXIC substances or wastes, as such terms are defined in applicable laws and regulations, or any other activity that would have toxic results, and no such haz.ardous or toxic substances are currently used in connection with the operation of the , Agenda Item No. 4A Property, and there is no proceeding or inquiry by any authority with respect theret<October 12 2 10 Seller represents that it has no knowledge that there is ground water contamination on Page 19 0 44 the Property or potential of ground water contamInation fram neighboring properties. Seller represents no storage tanks fOf gasoline or any other substances are or were located on the Property at any time during or prior to Seller's ownership thereof. Seller represents none of the Property has been used as a sanitary landfilL 10.018 Seller has no knowledge that the Property and Seller's operations concerning the Property are in violation of any applicable Federal, State or local statute, law or regulation, or of any notice from any governmental body has been served upon Seller claiming any violation of any law, ordinance, code or regulation or requiring or calling attention to the need for any work, repairs, construction, alterations or installation on or in connection with the Property in order to comply with any laws, ordinances, codes or regulation with which Seller has not complied. 10.019 There are no unrecorded restrictions, easements or rights of way (other than existing zoning regulations) that restrict or affect the use of the Property, and there are no maintenance, construction, advertising, management, leasing, employment, service or other contracts affecting the Property. 10.020 Seller has no knowledge that there are any suits, actions or arbitration, bond issuances or proposals thereof, proposals for public improvement assessments, pay-back agreements, paving agreements, road expansion or improvement agreements, utility moratoriums, use moratoriums, improvement moratoriums, administrative or other proceedings or governmental investigations or requirements, formal or informal, existing or pending or threatened which affects the Property or which adversely affects Seller's ability to perform hereunder; nor is there any other charge or expense upon or related to the Property which has not been disclosed to Purchaser in writing prior to the effective date of this Agreement. 10.021 Seller acknowledges and agrees that Purchaser is entering into this Agreement based upon Seller's representations stated above and on the understanding that Seller will not cause the zoning or physical condition of the Property to change from its existing state on the effective date of this Agreement up to and including the Date of Closing. Therefore, Seller agrees not to enter into any contracts or agreements pertaining to or affecting the Property and not to do any act or omit to pertorm any act which would change the zoning or physical condition of the Property or the governmental ordinances or laws governing same. Seller also agrees to notify Purchaser promptly of any change in the facts contained in the foregoing representations and of any notice or proposed change in the zoning, or any other action or notice, that may be proposed or promUlgated by any third parties or any governmental authorities having jurisdiction of the development of the property which may restrict or change any other condition of the Property. 10.022 At the Closing, Seller shall deliver to Purchaser a statement (hereinafter called the "Closing Representative Statement") reasserting the foregoing representations as of the Date of Closing, which provisions shall survive the Closing. 10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend and hold Purchaser harmless from any and all costs (including attorney's fees) asserted against, imposed on or incurred by Purchaser, directly or indirectly, pursuant to or in connection with the application of any federal, state, local or common law relating to pollution or protection of the environment which shall be in accordance with, but not limited to, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601, et seq., ("CERCLA" or "Superfund"). which was amended and upgraded by the Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including any amendments or successor in function to these acts. This provision and the rights of Purchaser, hereunder, shaH survive Closing and are not deemed satisfied by conveyance of title. 10.024 Any loss and/or damage to the Property between the date of this Agreement and the date of Closing shall be Seller's sole risk and expense. 10.025 Neither party shall occupy or cause or permit others to occupy the Property prior to closing and funding, and will not occupy or cause or permit others to occupy the Property until after the closing. XI. NOTICES 11.01 Any notice, request, demand, instruction or other communication to be given to either party hereunder shall be in writing, sent by facsimile with automated confirmation of 5 Agenda Item No. 4A transmission, or by registered, or certified mail, return receipt requested, postage prepaii(;)ctober 12. 2 10 addressed as follows: Page 20 0 44 If to Purchaser: Marlene J. McLaughlin Collier County Real Property Management 3301 Tamiami Trail East, Building W Naples, Fiorida 34112 . (239) 252-8991 Phone (239) 252-8876 Fax With a copy to: Jennifer S_ White, Assistant County Attorney Office of the County Attorney 3301 Tamiami Trail East, Building F Naples, Florida 34112 (239) 252-8400 Phone (239) 774-0225 Fax If to Seller Andrew Wright Franklin Financial Partners 5420 Bay Center Drive, Suite 100 Tampa, Florida 33609 (813)839-7300 Notice will be deemed received upon completion of facsimile transmission with automated confirmation, or after five (5) days of postmarking of Registered or Certified mail. 11.02 The addressees and numbers for the purpose of this Article may be changed by either party by giving written notice of such change to the other party in the manner provided herein. For the purpose of changing such addresses or addressees only, unless and until such written notice is received, the last addressee and respective address stated herein shall be deemed to continue in effect for all purposes. XII. REAL ESTATE BROKERS 12.01 Any and all brokerage commissions or fees shall be the sole responsibility of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from and against any claim or liability for commission or fees to any broker or any other person or party claiming to have been engaged by Seller as a real estate broker, salesman or representative, in connection with thiS Agreement. XIII. MISCELLANEOUS 13.01 This Agreement may be executed in any manner of counterparts which together shall constitute the agreement of the parties. 13.02 This Agreement and the terms and provisions hereof shall be effective as of the date this Agreement is executed by both parties and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustee, and assignees whenever the context so requires or admits. 13.03 Any amendment to this Agreement shall not bind any of the parties hereof unless such amendment is in writing and executed and dated by Purchaser and Seiter. Any amendment to this Agreement shall be binding upon Purchaser and Seller as soon as it has been executed by both parties. 13.04 Captions and section headings contained In this Agreement are for convenience and reference only; in no way do they define, describe. extend or limit the scope or intent of this Agreement or any provisions hereof 13.05 All terms and words used In this Agreement, regardless of the number and gender in which used, shall be deemed to include any other gender or number as the context or the use thereof may require. 13.06 No waiver of any provision of this Agreement shall be effective unless it is in writing signed by the party against whom it is asserted, and any waiver of any provision of this Agreement shall be applicable only to the specific instance to which it is related and shall not be deemed to be a continuing or future waiver as to such provision or a waiver as to any other provision 6 Agenda Item No. A 13.07 If any date specified in this Agreement fails on a Saturday, Sunday or legal holidalQctober 12 2 10 then the date to which such reference is made shall be extended to the next succeeding Page 21 0 44 business day. 13.08 Seller is aware of and understands that the "offer" to purchase represented by this Agreement is subject to acceptance and approval by the Board of County Commissioners of Collier County, Florida. 13.09 This Agreement is governed and construed in accordance with the laws of the State of Florida. XIV. ENTIRE AGREEMENT 14.01 This Agreement and the exhibits attached hereto contain the entire agreement between the parties, and no promise, representation, warranty or covenant not included in this Agreement or any such referenced agreements has been or is being relied upon by either party. No modification or amendment of this Agreement shall be of any force or effect unless made in writing and executed and dated by both Purchaser and Seller. Time is of the essence at this Agreement. IN WITNESS WHEREOF, the parties hereto have signed below. Dated ProjecUAcquisltion Approved by BCC: AS TO PURCHASER: DATED: ATTEST: DWIGHT E. BROCK, Clerk IMMOKALEE AREA COMMUNITY REDEVELOPMENT AGENCY (CRA) BY: Donna Fiala. Chairman . Deputy Clerk AS TO SELLER: '11'::.<.> RSG FAMILY LIMITED PARTNERSHiP INVESTMENT-LAND, a FlOrida iimited partnersh~ Y.BarfieJ.o,B~.HH~ldin,' Inc., a Florida Corporalipn\its gener partner \ ''} BY\ ,~~(~. " Ronald L. Glas, 'President \. ...._~ (Printed Name) "'- , Jennife White, Assistant County Attorney Approved as to form and legal sufficiency: :'v0 \~>--- 7 Exhibit "A" Agenda item No. 4A October 12, 2 10 Page 22 0 44 Parcel No.. 00127565101 A parcel of land lying in and being a part of the Southeast % of the Southwest X of the Southeast % of Section 4, Township 47 South, Range 29 east. Collier County, Florida and being more particularly described as follows: Commence at the Southwest corner of the Southeast % of the Southwest X. of the Southeast % of Section 4: thence North 00002'00" West along the West line of the Southeast % of the Southwest y.. of the Southeast % of said Section 4. a distance of 307.09 feet 10 the Point of Beginning; thence continue North 00002'00" West along the said West line, a distance of 325.54 feet thence South 89'59'56" East. along a line 30.00 feet South of and parallel to the North line of the Southeast Xi of the Southwest X. of the Southeast % of Said Section 4, a distance of 360.48 feet: thence South 00'02'00" east, a distance of 185.48 feet; thence South 44'59'28" West, a distance of 198.22 feel, thence South 89'45'38" West, a distance of 220.24 feel 10 the Point of Beginning. 8 Agenda Item No. 14A October 12, 2010 Page 23 of 44 Collier County Redevelopment Agency/lmmokalee CRA Folio Number: 00127565101 ADDENDUM THIS ADDENDUM is entered into thi;SO~ay of ~~rv...., 2010, by and between RSG Family Limited Partnership-Investment Land, a Florida Limited Partnership, Seller, and Immokalee Area Community Redevelopment Agency (CRA), Purchaser. Seller and Purchaser have entered into that certain Agreement for Sale and Purchase of even date herewith between the Undersigned Parties concerning the following described Real Property: A parcel of land lying in and being a part of the Southeast Y. of the Southwest Y. of the Southeast Y. of Section 4, Township 47 South, Range 29 East, Collier County, Florida and being more particularly described as follows: Commence at the Southwest corner of the Southeast Y. of the Southwest Y. of the Southeast Y. of Section 4: thence North 00002'00" West along the West line of the Southeast Y. of the Southwest Y. of the Southeast Y. of said Section 4, a distance of 307.09 feet to the Point of Beginning; thence continue North 00002'00" West along the said West line, a distance of 325.54 feet; thence South 89059'56" East, along a line 30.00 feet South of and parallel to the North line of the Southeast Y. of the Southwest Y. of the Southeast Y. of Said Section 4, a distance of 360.48 feet; thence South 00002'00" East, a distance of 185.48 feet; thence South 44059'28" West, a distance of 198.22 feet; thence South 89045'38" West, a distance of 220.24 feet to the Point of Beginning. Subsequent to entering into the Agreement and pursuant to provisions of the Agreement, Seller and Purchaser wish to amend the Agreement with the following term and condition: 1. It is the intention of the parties that the closing of the transaction contemplated herein is contingent upon the simultaneous closing of the transaction contemplated in that certain Agreement for Sale and Purchase of even date herewith concerning: The Southwest Y. of the Southwest Y. of the Southeast Y. of Section 4, Township 47 South, Range 29 East, Collier County, Florida. LESS AND EXCEPT, those parcels conveyed to Collier County, a political subdivision of the State of Florida recorded in Official Records Book 58, page 337 and Official Records Book 123, page 219, described as follows: The South 30 feet, the North 30 feet and the West 30 feet of the South Y, of the Southwest Y. of the Southeast Y. of Section 4, Township 47 South, Range 29 East, Tallahassee Meridian, Collier County, Florida. Except as expressly provided herein, the Agreement between the Purchaser and the Seller remains in full force and effect according to the terms and conditions contained therein, and said terms and conditions are applicabie hereto except as expressly provided otherwise herein. Agenda Item No. 14A October 12, 2010 Page 24 of 44 IN WITNESS WHEREOF, the Purchaser and Seller have hereto executed this Addendum the day and year first above written. AS TO PURCHASER: DATED: ATTEST DWIGHT E. BROCK, Clerk IMMOKALEE AREA COMMUNITY REDEVELOPMENT AGENCY (CRA) BY: , Deputy Clerk Donna Fiala, Chairman AS TO SELLER: DATED ~ I ~ i:J J I () I RSG FAMILY LIMITED PARTNERSHIP- INVESTMENT LAND, a Florida limited partnership BY: Barfield ~ Holdings, Inc., a Florida '\ corporatio~il.s g~eral partner \\ ' \ ) ~ ,,~~ \ \~Onald L. GT'J's, President Approved as to form and legal suffiCiency: \) '"1~ "'0~ Jennifer B. White Assistant County Attorney Agenda Item No. 14A October 12, 2010 Page 25 of 44 Appraisal Reviewer's Scope of Work: Client and the intended users: Immokalee CRA and Collier County Agencies The intended users of the reviewer's opinions: Immokalee eRA. and Collier County Agencies The purpose of the appraisal review assignment: Administrative desk top review to determine the quality of the market data, valuation methodology, and report writing. The subject property interests, effective dates, conclusions, and appraiscrs namcs are located on "appraisal review summary form" The reviewer will review market research areas, scope of the appraiser's use of current USPAP guidelines, property data, sales data, land value analysis, and H & B usc sections of all appraisals under appraisal review. Reviewers' opinion of work material, relevance ofthe data, and propriety of any adjustments, will be considered and noted if agree or disagree with the estimated value. The reviewer is a real property appraiser and has received no assistance in the review of this appraisal assignment. The appraisal review is an administrative desk top review and the review appraiser's ovcrall opinion is no changes to the matcrials and reports presented undcr appraisal rcVlCW. PlllEPlUfEDfOR AN)PMOPfJtrY OF C0t.L9 C1.ll.t<ITY BOARD Of COtMA$SIONERS REuA.HCt ~ APPRAISAl FM OTHEJt USES IS NOT 'NARftANTf1) SUMMARIZED DATA FROM AN APPRAI L IGNED AFTE VIE R DETERMINES APPRAISER'S OPINIONS HAVE MARKET.BASED SUPPORT& DOES INDICA IE A nEll/llllI E PROJECT NAME! SUBJECT PROPERTY: " PARCEL NO(s): Fol" 00126040009 8.82 acres RMF~16Z0NING VACANT LAND PARCEL NO(s) Folio 00127565101 242aaes RMF.16 ZONING VACANT LAND LEGAL DESCR: AS STATED IN BOTH APPRAISALS DWNER5 (SEE ATTACHED! AS STATED) CLIENT & INTENDED USERS OF THIS REVIEW' COLLIER COUNTY AND ITS ASSIGNED DEPTS IDENTIFY THE REVIEWER'S CLIENT AND INTENDED USERS, THE INTENDED USE OF THE REVIEWER'S OPINIONS AND CONCLUSIONS, AND THE PURPOSE OF THE A55IGNMENT; The intent or pu!'pOSe of the reviewer is to develop an opinion and conausion about the quality of the work under review, content. and conclusion Slated in the report is in compliance with applicable standards and requiremenls of USPAP. INTERESTS BEING APPRAISED: Fee Simple APPRAISER / COMPANY : HARRY HENDERSON. SRA DATE OF (INSPECTION) 8/25/2010 DATE OF VALUE 812512010 DATE APPRAISALS RECEIVED 812712010 DATE APPRAISALS APPROVED ; DATE APPRAISALS REVIEWED. 813012010 SEE PAGE(s) FOR SUMMARY PROPERTY DESCRIPTION (Zoning, Size of Parent Tract Folio fl. Assessed 'Ialue, etc,) ADEQUATELY AS STATED IN THE APPRAISAL REPORTS SEE PAGElS) FOR HIGHEST AND BEST USE ANALYSIS ADEQUATELY STATED SEE PAGE (s) FOR DESCRIPTION OF THE ACQUISITION AND IMPACT ON REMAINDER PROPERTY' NONE STATED IMPROVEMENTS IN TAKE AREAls) AND TREATMENT BY APPRAI5ER: NO IMPROVEMENTS WERE VALUED IN THE ASSIGNMENT NOR ASSUMPTIONS OF EXTRAORDINARY CONDITIONS CONSIDERED I N THE ORIGINAL APPR~ISAl DE5CRIPTION OF SEVERANCE DAMAGES AND COST.TO-CURE (IF ANY): NONE STATED IN THE ORIGiNAL APPRAISAL ~ lEA OOI.WTY 800ID Of """"'l'91C>>ERS uses tS NOT W4fIRAHTE1) REVIEW APPRAISER CONSIDERED THE FOLLOVVING AREAS OF THE APPRAISAL(sl SUMMAR'" OF COMPENSATION: - Detemination of Parent Tract LAND VALUE: $ _ Highes1 and Best Use Con::lusions (before & after taking) IMPROVEMENTS TAKEN: I .. X Adequacy and Relevancy of Markel Research EASEMENT FOR I X Methodology Employed and Analysis 01 Relevant Data LAND & 11~1PROVEMEN,S: S _X_ Approaches to Value Employed (and those nol employed) TEMPORARY CONSTRUCTION EASEMENT(s) S _X_ Reconciliation of Value Indications COSTTO~CURE S _ _ Other. SEE ADDITIONAL COMMENTS SEVERANCE DMAA,GES (Not Cured): S Other OTHi:R T oml of entire wellHeld $ Combined Total TOTAL COMPENSATION (Including all interests being acquired. and any and all severance damages and COs!-to-cures): NO CHANGES TO CURRENT ESTIMATED VALUE REVIEW APPRAISERS COMMENT: The purpose 01 the assignment relates to the reviewer's objectrve, to evaluate compliance wrth relevant USPAP requimments and Collier County Requirements, The vaiue opinion stated in !he appraisal report is adequately supported The value conclusion is appropnate and reasonable gIVen the data and analyses presentea' The value opinion stated in the report under review was developed in oompliance with aDpl:cable standards and requirements, The quality of the fee appralser's work is acceptable. This appraisal report is lor the use by the eRA located in immoka~ ~IOIida, REVIEWER'S APPROVAL: ROOSEVELT LEONARD . ~d~;~/< DATE: ";/Iz.:.;~ TYPE OF APPRAISAL REViEW _X_ administrative review - tec.~nical review S4 S APPRAISAL REVIEW SUMMARY RRE WE Agenda Item No. 14A October'<1<2' ~OI0310 Oil 1ICttl.'IIlf vMi.l o ReVIewer's signature (above) certifies that, to the best of ReViewer's knowledge and belief (1) the statements above are true and correct; (2) the analyses. opinions, and conclusions In thiS Review Summary are limited only by the assumptions and limiting conditions stated in this Summary, and are my personal and unbiased professional opinions and conclusions; (3) Reviewer's compensatior. is nol contingent upon any action or event resulting from the analyses. opinions, 01 conclusions in this Summary, nor from the use of this Summary by others; (4) Reviewer has no present nor any prospective Interest in the property which is fhe subject of thIS Summary nor does Reviewer have any personal interest or bias with respect to the parties inVOlved; (5) no one provided Significant professional assistance to the Reviewer during the appraisal reView. and (6) ReViewer rlas or has personally inspect :he property which is the subject of this review. Agenda Item No. 14A October 12, 2010 Page 27 of 44 V ALVA nON ANALYSIS VALUATION METHODOLOGY Appraisers usually consider three approaches to estimating the market value of real property. These are the cost approach,' sales comparison approach and the mcome capitalization approach. The cost approach assumes that the informed purchaser would pay no more than the cost of producing a substitute property with the same utility. This approach is particularly applicable when the improvements being appraised are relatively new and represent the highest and best use of the land, or when the property has unique or. specialized improvements for which there is little or no sales data from comparable properties. The sales comparison approach assumes that an informed purchaser would pay no more for a property than the cost of acquiring another existing property with the same utility. This approach is especially appropriate when an active market provides sufficient reliable data. The sales comparison approach is less reliable in an ini\ctive market, or when estimating the value of properties for which no directly comparable sales data is available. The sales comparison approach is often relied upon for owner-user properties. The income capitalization approach reflects the market's perception of a relationship between a property's potential income and its market value. This approach converts the anticipated net income from ownership of a property into a value indication through capitalization. The primary methods are direct capitalization and discounted cash flow analysis, with one or both methods applied, as appropriate. This approach is widely used in appraising income-producing properties. Reconciliation of the various indications into a conclusion of value is based on an evaluation of the quantity and quality of available data in each approach and the applicability of each approach to the property type. Use of the approaches in this assignment is summarized as follows: Approach Cost Approach Sales Comparison Approach Income Capitalization Approach APPROACHES TO VALUE Applicability to Subject Not applicable Most applicable Not applicable Use in A~sLgnment Not Utilized Utilized Not Utilized PREAt.RED FOR AND PROPEJITY OF COl.lD COUNTY IJOAAO OF cr---$5OiERS RElJANC[ l.POH ~IS.-LFOROIHER usss IS HOT ...........ro> CI:RTIFICATICN Agenda Item No. 14A October 12, 2010 Page 28 of 44 I certify that, to the hest of my knowledge and bdicf: the statement,> of fact contained in this rcpon arc true and correct. the reported analyses, opinions, alld conclusions are limited only by the reported assumptions and limiting conditions and urc my personal, impartial, and unbiased professional anal}'scs, opinions, and conclusions. I ha""e no (or the specified) present or prospective interest in the property that is the subject of this report and no (or the specified) personal interest 'with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. my engagement in this assignmt~nt was not contingent upon developing or reporting predetermined results. my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that fa,'ors the cause or the client, the amount of the value opinion, the attainment or a stipulated result, or the OCcurrence of a subsequent event directJ}' related to the intended use of this appraisal. my anal):ses, opinions, and conclusions were dc,'cloped, and this report has been prepared, in conformity with the Un~'farm Standards of Professional Appraisal Practice. I have (or have not) made a personal inspL"Ction of the property that is the subject of this report. (If more than one person signs this certification, the certification must dearly specify which individuals did and which individuals did not make a personal inspection of the appraised propert,y.)41 no one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual pro\'iding significant real property appraisal assistance must be stated.) /~ ~ D? I~.'f"'~ <' ----------------------____L____ Roosevelt Leonard PREPARED FOR ANDPROPERTY Of COWER~TYIKWtOOf~f~ REl..WrIJC[ LPON APPRA1SAlFOR ono USES lS NOT WARRANTED Agenda Item No. 14A IMainFiieNo RR?ar.ret~~JtIf! 12, 2~10 Page 29 of 44 APPRAISAL OF REAL PROPERTY LOCATED AT: 601 Delaware Avenue W. 44729 SW1/4 ot SW1/4 of SE1/4, less RD RNV 8.82 acres Immokalee. FL 34142 FOR: ImmO!;flleeCRA cio Collier County Gov. Real Estate Sef',/Ices AS OF: Augus:25,2010 BY: Harry Henr.1erson, SRA Collier County Gov. Growth Management Division Collip.r County Government Form GA2~'W;nTOTAL" appraisal sotW<lIC bya la mode. inc -l-OCH\LAM E PftEPAAIDF/JA,\HDKIOPE!lTYOf CCll.l.n COUHTY 9OAAO OF COloMSSM)I~ REl.lAM':f I.POH APPfWS.I.L FOR OTtaf USESlSNQTWARRAJ(ttl;l ! Agenda Item No. 114A October 12, 2Q10 Page 30 ofi44 K'lainF1IeNo,-S.10:acre-iracl' - Pine -ijI ~:",..",.",!J;"I!"I'J~"""~' . . ...:;__ ""!" ~ ,,_ "'i";'_,""'Jr~-~ " - - ,'. ....;r"! -.. . -'" " - ,.~~,-'--' - ---~~_.' . _,' _", .....,~o _~;-.... _ - ....,..,., -, .";";" . ' .n' 1ll;"" "1!l';11.~.. -;;;r -,., ~. .. <' !,.:..:!....'_::.L..::" "1\' ", ....'...;;. ,.:...,,'''';,~ " 'r' ""1' 't.", ,-,---- -~l ' , ""1 'f"'" ~ _ : -.f::: 0" I '~t, ' "I' i, [5 ,..' ~.~:. ~, .. _.-r'~, i .' "Jt' I~"I I ,t'..4JJ~,.... ~ J , ""J . ,} ~ _ ' ;r~' ~ ..... ~... lrL~:"'J"~ . .......~~..".. ( _ 'I \ ~7foir........ ~.o 11 ~ ~ 'N,' frJ-; :]tr= ii.ir. ."'~ ." ..,~. \1 iJl.. -~ - - - ,_~_.A-{ ,~~~_,~: :>~~:~~~'-;f Subject Aerial ~FOO.o\H(l"'iO+'f_io(. COt.l.JER~rYtlOol.RDO!'COM_.SSi Rnwc[l..-oh~FUR(;;-ff>i-:1 USES 16 NOT \li,t,RRA.HTm LAND APPRAISAL REPORT Agenda Item NO.1 A IMainRleNo 8.B2acretladlt~ 12, 2 10 Page 31 of 4 FileNo 882acretract B'"'''''' Owner: RSG Famijv limited Partnership CensusTraGl.1.2g~MapReterence 54+T47+R29 Property Address 601 Delaware Avenue W. en, lmmokalee Courlly Collier S!ateFL Zip Code 34142 Lellal Description 44729 SW1f4 of SW1/4 of SE1/4.1ess RD RlW 8.82 acres >< Fee I De Minimis PU[ SalePrice$N/A Dat~ of Sa!e.,!,!/A Loan Term yrs, Property Rig hIs Appraised : Leasehold ~lual Real Estate Taxes S 5BO.42est Or) Loanchargestobepaldbyseller$~Otl1ersalesconcessionsN!A leooer!C~elll Immokalee eRA ---_._--_..~~ Address c/o C911ier County Gov. Real E~ta!~~ervices OccupartN/A Appraiser Harrv Henderson. SRA inslrucHons to AppralserEstimale Mark.et Value FoHo # 00126040009 Locaiion - Urban ,( Suburtlan I Rural Good A~ . Fa" Poor BultUP :~Over75% 25% to 75% ! Under 25% Employmell1StalJilily " "C ~ ~Rate C::;FlAlyDev. Rapid Swady . /; Slow CorweniencetoEmploy.l1ent PropllftyVak!es Increasing S:able iDeclining ConveniencetoSnopping " "C '= Demand/Supply Shor:a~e In Balance JOversupply Convenience 10 SchoolS , ,.' ~., - Marketing Time - Under 3 Mos. 4.6Mos '-:'JOver6Mos Ade~uacy of Pltllic TranspOl1ation -, ' Present Land Use ~% 1 family -.12% 2.4 Family -.J.Q%Apts, _%Condo -----.2.%Comrmrcial Recreational Fac:ili;ies ~. ~ ---2.%lndustrlal~%Vacanl 10% school Ace~uacy of Utililies ,I ChallQe in Present Land Use l'lotLikely -:;;1 Likely(') Taking Place ('j PropertyCompa:ilJilily ~ ~ (')Fromvac~_ To _~eside!ltial Pm:oction from Datrimerttal CondrtlOns ~~~F PredominamOccupancy Xl Owner -ITenant __~_..%Vacart Police and FireProtfClion SilIQle FamHy Price Rang& I 20000 to S-11M.QQ..... Predominan:ValueS 65.000 Genera:AppearanceofPropernes Sl1gklFamllyAge --L.- yrs_ to~ yrs DmcominantAge 25 Yr'$. Appeal to Market ., ~ I . -. Comments inCluding tIlose:aclors. favorable or unfavorable, afieclingmarketatJil~y(e.g publiC parks. s:l1ools, view, noise):See attached addenda. ---~--_..~------ --- ----- - - D:monsions Rectanoular 8,8~ acres Sq,F:.orAcres l<. ComerLo! ZorinllclassificatiDn RMF-16 (13) Presentlmprove:nents _~~ do :AI do not conform to wning regul~tions Highest and besl use [J Present use Ll Other(specify) mutii-lamilv develoor:r.1ent 12.?- maximum density of 13 units per acre Pubijc Other (Des:ribe) I OFFSITE~PROVEME,NTS Tapa Lellel Elec. LZ : Street Access ,<, Public L Pnvate Size Typical Gas ~ i Surtace Macadam ShapeRecta~ Watl!r - avail. I Maintenance L~ P~?hC_ L Private View Neiohburhood San. Sewer avail. 11:-:- SlOrrnSewer ..! Curb/Gutter Drainage Adecuate _. ::J Underground Elec:. & TelL~_ ,::;i~"~,~lk ._.. ! Is the property located jl'\ a HUD ldel'llified Special Flood Hazard Area? :? No r y" CGmments ~avor.lbifJ or um'avoratJI~ includin~ any a~Darp.ni aOYllfse easem~nI5, ~ncrGaCnme1ls. or mller adverse candili01S): No adverse conditions observed Ino surve rovided for revie~\. The site mav be subiect to"normpl1!.erirneter easem~0ts,.I)i1 oas and mineral rklhts of record. - Flood Zone D. Comm# 120067-150G, dated 11117/05 - Tile unae'Sroned tIas recitea thref recenl .;.ales of properties mosl simnill and prtJ)(Jmate to suoiect and Ims considerec t~ese 11 tlle :narket a.1a1'1si~ Thedescriotian incluoas a Milar ad,.mmenl retlllCnng market reaction 10 llmse ttp.ms af si~n~icant varlaMn nell':een me SUh,ecl and tompara~le p:uperlles. I' a slgnnicanl ilel1 11 the comparable pro~erti' is superim 10 or mare iavorable than Ille ,unjecl property, a minus H aOfUstmcr1l is made Illus r~riucin:; thf indicated value af subject: it a si9nHicanl Ilem in lhe comDara~le is intenor to or less favorable t~an /he su!1lect propeny, a plus (+) adlustment is made thus incffiasing the indical~d va,ue of the sulllecl f----, ITEM SlJB.JECTPROPERTY COMPARABLE NO 1 cOMPARA~~E @, 2 __ ~-- CDMPI\RABLENO.3 Address 601 Delaware Avenue W. 2702 Immokalee Road S/E cor. N.11th & Roberts Ave 8909 SR 82 ~J~~9_k~I~Ih.EL 34142 Immol.'E,l~"E.l_3414~ irn_mok?_~l?3-,- Fl 34142 ---------- Illlf!lO_k."J!l~h.3.4J~2 ProlClmoh'!oSub'ect Proximate Proximate - Proximate Sales Price )\!.I~ 15 63131/ac '$ 40,2681ac IS 34,930lac IE[~-- IS 1,000,000 LL 240,000 IS 175000 - ------- -... DaiaSource OR 4538 P9 2510 OR 4575 PG 3307 OR..4425 PG 3022 Date of Sale and DESCRIPTION - DE~CRIPTION J_I- SMJst DESCRIPTlOII:_---1t.t~~J!i!!Si DESCRIPTION +i~ Mus: Time Adjustment 2/10 N_gminal 6/10 Nominal 2109 . -2.096 Locatioo Farm CommuDili'.. Same -- Same .-- Sa.me SiteNiew a.82_acres 15,84 acres In $,'a_c .::L~6 acre~ In$/ac 5.01 acres in$la:: TMnnranhv level _l,,€lI'~I,_ _ ~:- level Zoninn RMF-16113 RPl)P -6.313 Inst.PUD +i,~ ~mm.pot.) +8733 J[l1P'rp.ve..f!I~ ~--~ [)welling___ --,-,-- - ~1,$T!;l_ t'lQr~___.. ---- None ------- ---.------- - ----- Sales or Financing Cash or Equiv Cash or Equiv C8shor Eouiv. ~ncessions Ne:Adi,lTota.l\ . I I -7,89.1 " I I - + - - 4.0.~6 '-,! + 5 6.637 lndicaledValue , Is otSublect .. I, 55.240 is 44.294 41,567 Commems on Mal1l.et Data: See attached addenda --- ---._-- - ----- Commems and Condiiions 0' A.ppralsal: ~cable prior sales~data for subiectqr camps, (see write-up in addendum) Subiect and comp~ are comnared on a unit-Drice basis. The sale~ clle<! are the besJ available. . ,. _ -~ - Final Reconcihation: All reliance qiven to the Sales Compansor: Approach v.<hich is recoonized as the least subie::ttve indi~a-tor or val.t!!,.for ! nro""'rties like the sub.ect. -...-- - -~ $42.000lacre x 8,82 acres - S370.000 rounded IESTlMATETHEMARllETV"LUE,A$OEFJNED, OF SUBJECT PAOPEIlTYAS Of AUQust25 20...l~,olJe$ 370,000 IL(,(~ Hanv Henderson 8RA Did Die Not Physical~ I~spec; Proper:y Awraiser{sl Review App,ai,er (if applicable) jY2Ki ColUar County Government ;,lDi PREPAAmFORANOi>1-,,, Form LND - ''WinTOTAl" appraisal sot:ware by a la mode, in: -1.aCO-ALAt DfOUIERCOUNl'rao.umOFCi>M.. /lELI.IJIC[lIP(JltAf'fI'RAISAI.fORO".... USES IS I<<)T WAARAHTED I ! . ~ ~ , ~ , u. , , I , ! UJ j , 1 , , o IOJ) <( en co ~ X'g€nd~ IMri\~8.14A ~iH ottQber~2,2010 ijj:li " ; if!1a9!'\32 of 44 ...J ~ ~;;I":""<'>~,' 2j ~ ~~~~~~~i;~:;!iie~:'l: I <5t:>:;:SH~if8~~;~;~~ ~ ~ID~~:~~~~~~:~~ ~ ~5!st~~ci~~~~j LIlli) ~ LII:(") '" <rO>< o::r N:a::: .,.. Oalo::r 0:: "M ... O. :!Sa: --~ '---. -.--........~ 3~:~::2~ci3~~::6~~;6 ^ ,- N u. ~~~~:::Z:3~36666:~3 ;Sl:;"ilf WC'\I ~0::I' 0 <t 'P ~~ ::<:0::1' "'.,- o MC"'!~~~.' 2: co 2: .."'....,..... ",,, !lllil!i~!iii~jji!~ .. ~ ~~ ~ ~~ ;~~~~~iii....!~;~~~~~~ ~~~~~E~f~;~~~~~!~~: ~~~~"~Z~~OO~Q<.>~:~~~ i I UJ .....; ro N "' --'............0..[:;:) ~ J. Hill ':..') ') ! '01 giil!imhniU!U '" N en '" "'. ,I ~~' '!I' _ ; I ~I ",,;, I" pi" ,,',; -I;: ;,;;; "" ~ ~U iV~'":;1c,,. n,,,.,""'''' :, Z ~~... ".~~ ..~*~~? L2~ ',~,T~-:~\_J '-PKlllll"hJ:, i.O;.~<I'" _,_, 'C,j]""'~i~ "~~I;"l("k'L . j ~,....11 J' ~:'}fi.[_;t:~I~ ,tc. ~ ":~i1\t_.I:; ,'". 'BY "i.,r"ft~ 1''-----:';1''''1 ~ .:?- 10' JJIJ I 'l ! ::f j i ~l I'=~~~ ~'N" t ' (") 1- , ;::'3 iilillll,ifiilllill \":,'1 \}+~~ 00 ~ ~ 'J:' i:7j::;;': 6: 6~Z~~:j ~;:;::;::;:~;:': o 0 0 ~ 0;:<0 ~~~~~~~~~!!ii~i!lii W"~"'"'w_",~",u u.J OJ) i;;~""""~,,;,,, I i ==~:~~--:'G:.~~~~~;~.;';fli ~I~ 1<(; , !':::X::: I' , I '<:t~ w ]' , w i: .. ..J , <l ~ 'i: :l! '. ::::: 'u ~ .. :> , . c. 0 ~ ~ ~ c > . 'c ~ '" :J .'i) '0 fU. I ] , ~ N '<:t .. ! , t , [: " " 1_- '<:t LO ,..., ~ " C\I (") 'D q ~~ " ~ PREflAREDFORAlCu"'OflERTY CF--;'1, >~,-- COl.l..&COI.M'YiIOAAD(I'~ JlSJNC:t:t.POJIt~FORODER USiE$lSlCJTllI'ARRAftJU.) r,C, .. '" ~ Z ;:~--"~ :9-- " " : !~!~~riiji~l~i~i~ '1 : _ :llJi~__. ::JI.j~,"')! ':-l.L'I;}S " , , ;1 ~I :.::, ('-J R; i:: .=: 5 ~ > ~ ~ ~ ~ ~~~ - c. ~. .~ .,'''"' '-";"J~"'! ! _'cc--, ?I I ] I ,I J==-l1.]i ~(J m I ,,' <I~:~'"""""'~::::;"-<:,;f::'''';'':. I:;~' -. l"~l ~.~~ 1""5t:l~.~.lc',- ~ "J~ - ~ ::_:~ ~ _~~ "~~'=:.! ::>~;o,,:~ ~'. ,~'_.I ~.h. ~.~~ ____t...,..,,,..,. I i .~ -) __I camp #3 Page 1 of] : Agenda Item No. 14,0. October 12, 2010 D'ge 33 of 411 Print Map !It_.._ ..- SuIl<lM.,an. """__r.>feJ"ll C;ol""'Cou.,ty Folio Number: 00050290006 N.m,,; CCGP LLC sm..UI & NalTKl: 8909 SR 82 Laglll DKcrtptlon: 541i 28A PART OF SECTION 5 DESC AS: COMM AT NWCNR RUN N89DEGE 1050.58 FT ALG NLlTO~ OFNLY RIWOF SR 02THE t: 2Q()<l C,"lle'C~J"'Y P"'P'"''"J API'''''''''. \\",,101 1~. COIl"rCouo'y Proo."" 1.1'<"""..'" comm"'M'" p''''"'',eg ,'>< mo.. .ceur... aM Jp-'<>-C"'. ,-'Wmol,on. MWB,,,,nIie. .X/lf.....d or ;ma".d.", p"vi<loa 'Q"h"""IO""""r_,lS~"'U'",arpr.lllt.o' ~FORAIC)PWOPEl'" Cot..LEJtCOlMTY8OlUIDOFCQM-, Rfl.lAIiIC(II"OffAPPflAlSALFOi, USESlSNOlW6JlftAA'TE1 Agenda Item No. 14A LMainFileNo S.8?3CI"!'~12, 20nO Page 34 of' 4 Borrower/Cienl PropertAddress C Lender Supplemental Addendum Owner: RSG FamHv limited Partnership 601 Delaware Avenue W. Immokalee Collier Immokalee eRA Slale FL Zl Code 34142 FileNo8.B2 acre tract . Land: Neiohborhood . Descriotion The subject is located on the south side of the Immokalee community, south of Main Street and west of 1st Avenue S. Immokalee is an unincorporated farm oriented community situated in northeastern Collier County, Citrus groves, vegetable growers and open grazing lands surround the built-up areas of the lmmokalee area: as such, farm workers comprise a significant portion of the local population. A large farm market, produce packers and a Seminole Indian operated casino are prominent in the area, Housing options range from trailer parks, manufactured homes. single-family dwellings. condos and garden apartments. Essential services (shopping, professional offices) are available locally along Rt 29 and Main Street. Maintenance levels are mostly average; future marketability appears to be favorable, . Land: Market Data The subject and camps are compared on a $/acre unit-price basis. this negates the need for size adjustments: all adjustments are applied using a percentage unit/price factor Prices have been stable in this market during 2010 but had been declining during 2009. a negative 6% lime adjustment is therefore applied to camp #3 only. Differences in zoning are considered based upon observed market dynamics (-10% comp #1, +10% comp#2. +25% comp#3). Nole that camp #1 included a small house and outbuilding whlcl1 is adjusted for accordingly_The lower end of the indicated unit-price range IS given most weight in consideration of the currenUy weak economic conditions in the market. A unit price of $42,000/acre is selected as most reasonable for the subject lands at this time. Thus- 8.82 acres )<. $42.000/acre '" $370 000 (rounded) - PRa'AAEDfOR Atr() PMlPEkI1' ,")f f':'Ot..L.n ca...n-r IlCWmOf COMMrSSlf ,>,_". fl:EU.I.ICE:lJ>CW~FOHOTWJ- USl'SISNOT~rw Forrr; TADD - 'WinTDTAL" apprZlsa; s(lttwa'~ oy a I" mode. inc - '-80a-ALAMDDE Agenda Item No. 14A rMainFileNo,8.82acre~~i~112, 20 0 age 35 of 4 DEFINITION OF MARKET VALUE: The most probable price whleh a proptlrty should ofrng in a competitive and open marke1 uneer all conditions reQuisite 10 a fair sale, the buyer and seller, each acting prlJden11y, knowledgeably and assuming the price is no: affectee by undll€ stmulus. Impficit in this definition is the COlISumma!ion of a sale as of a specified date lInd the passiTl\l of t~1e from se~er 10 buye' under conditions wheroby: (1) buyer arm seller are typically molivated: (2) oath parties are well informed or well advise~. aru:l each aatil!{; in \'1M! he cOrlSiders his own best interesi; (3) a reasonable bme is alk:lwed for exposure in the open marke:; (4) payment IS made in terms 01 cash in U.S. dollaffi or Ir, terms of financial arrangements comparable thereto: and (5) tI1e price represents the normal consideration lor the property sold unaffected by special or creaUve financing or sates concessions. granted by anyone associated wil!1 ltlesale. . AdjustmerltS m the Cllmparables mllSt he made lor special or creative iir.ancing or sales concessions No a~jlJS;ments are necessary for those costs which are normally paid bV sellers as a resun 01 1:adition or law in a market area; these cos1s are readi~ identifiable since the seller pays :hese costs in virtually all sates transactions. Special or creative financir1ll adlustmen1s can be made to the comparable property by comparisons to financing lerms offeree by a third parry inSjtutional lender that is no! aiready involved in the property or transaction. Any adjustment shnuIC not be calculaled on a mechanical dollar lor jollar wst 01 the financing or concession bllt the dollar amounl oi any adjustment should approximate the market's reaction to th€ linancing or concessions based on the apPr.liser'sjudgement STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDrrIONS: The appraiser's cenification IMt appears in the appraisal repor: is sublect to the followmg conditions: 1. The appraiser will not be re5ponslbkl lor matters 01 a legal nature tha: affect eitMr Ihe property being apprai5ed or the title :0 it 100 appraiser assumes that fhelltle is goad aoc marketable and, therefore, will not render any opiniOns about the title. The property Is appraised on the basis of it being under respon5ible own!lfShip. 2. The appraiser na5 provided a sketch in the appraisal report to show approximate dimensions o~ the improvements and lhe 5Ke-;ch is included only to assist the reader of the report in vi5ualizing the property and understandinglhe appraiser's determination 01 ~s size. 3. The appraiser ha5 examined the available fbod maps tha: are provided by the Federal ~mergency Managemem Agency (or other data sources) and has no:ed in the apprai5aJ repor: whelher Ihe subject site is lo:ated In an identified Specia Flood Hazard Area Because 1I1e apprdiser is nol;3 sUlwyor, he or she makes no guarantees, express or implied. regarding this de:erminatioo 4, Theappral5er will nol give testimony or appear in CDUr: because he or she made an appraisal 01 the praJerty In Ques:ion, uniess speCific arrangements to do sohavebe~madelleforehand 5. Tr.e appraiser na5 estmated the value of I!le land in L~e cost a~proach at ;ts highest and best us€ and lhe improvemerJ:s a: lheir contributory value. The5e separate vaiuatio1s 01 Ihe iand and improvemen:5 mU5t not Ilt. U500 in con,unction with an~' lither ~ppraisal anc a'e irwalid if lhey are so used 6. The apprai5er ha5 no:oo in the appraisal report any adverse conditions isuch as, needed repa:ro, de:lrDciation, the presence of hazardous wast~s, tom subs:ance5, etc.) observed during lhe inspeCtion of the subjac: property or lllal tle 0' she lleCar'1e aware 01 during the norma! research involveC in periorming th~ appraisal. Unless otherwise 5;ated in ttl!' appraisal report. lhe appraiser has no knowiecge of any nleden or unapparerr conditions of the property Of adverse environmental conditions (inclUding tm: presence 01 hazaroous ~iastes, loxic substances etc.) :na:. WJuld make rhe property more or less valuable. and has assumed that there are no Such conditions and makes no guaranTp.€s 01 vlillTanties, express or implied, regarding :~e c01di:ion oi the property. The appraiser wil: rnr be responsible for an)' such cor;ditiorlS IIlat dn exisl or tor any eng,neering or tcs:ing that might be required 10 discover wnether such coooitions exist. Because the appraiser is nol an expert in tile licld of cnvi'onmer.tal hazards, the ?ppraisal repor. mus: no: be considered a5 an enl'ironmenlal asses5l11€m af the property 7. The appraiser obtained the in:ormabon. e~tima:e5, and opinions that were expressed in 'he appraisal re~"rt from sources ~hal ~e or she considers 10 be reliable and believes them TO be true ane ,~orrect The aporaiser jotS nol assump. iesponsibilit\' tor :ne accuracv of such ilems ttlat were furni5hed by other parties. 8. The appraiser will nol disclo5e:re conlents ollhe appraisal report except as provijell fOI in the Ln:lorm Sla'ldarcs 01 P'ofes5ional Appraisal Practice 9. The a~praiser has based his or her appraisal feport anc valuation conclusion 101 an appraisal llla: Is subject to satlslac:ory completion, repairs, or alleraHons on the assumption that completion Of the improvements will be ~eriormec in a workmanlike manner 10. The apprai5er must prollide his or her prior wnnen con5en: before the lemiericJien: speCifieG in!f1e appraisal report can distribute the appraisal repon Qncluding conClusions abou: Ihe property value. the apprai5er's identi7Y and protessional de5ignations, ~nd rBterBn~es to any professional appraisal organi2ations or the firm with which 1Ie appraiser is associaled) 10 anyone other than tne Dorrower; :he mortgagee or [Is succe5sors and assigns; the mor:gage insu,er: COnsUltant5: professional appraisal organizations: an)' state or trueral!)' approvec financial ins!iliJtitlfl: or afl\! department. agency, or In5trumemality ollhe United Slates or any state or tile District 01 Columbia: excepllha: the iendericlient mav distribll!e1l1e property deSCription sectior of !he report only to data collection or reportrng s8r..ice(s) wi:llOl1! towing to obtain t!le appraiser'5 prior wr:lten consent Tne appraiser's written con5ent and apprO\'al must also be obtained betore the appraisal can be conveyed by anyone :0 the public th~ough adve1i5ing, pub _, es, J, w.. ef~ I'tlEPAA'EDFORIH}~n()f Cot.llEJlCOUN'rYtr.>>.RDOIFCf.IMM.S$IONERS fE1J.uc:(i.fI'OH~I'OROTHER lJS[UtfllOT'lltMItANTW Frel!die Mac Form 4396-93 Page10f2 Fannie Mae Form 1004B6-93 CoUierCountyGovernment F~rm ACR - "WinTOTAL' appraisal software by a la mode, inc - 1 "aC(i-ALAM09E Agenda Item No. 14A IMEJ!!Eil.t.M!L!!JlZjlcre~~12, 20 0 age 36 of 4 APPRAISER'S CERTIFICATION: Ttm Appraiser certiti~s and agrees that 1. I have resBalt1led :tie subject market area anc ~ave selected a miniMum 01 tiles '€cem sales 01 properties most similar and proximal" to tne subject property jor consit!eraUon in the sales campanson analysis anc nave made a dolar adjustmem when apprDpri~le to reflect the market reaction to those items 01 significant variation_ ~ a significant item in a comparable property is superior to, 01 more favorable than, the subjec~ property, , have made a negative adJus:ment !o reduce the adjuster sales price of the comparable anc, if a 5ign~ican! :tern In <; comparable nflerty is in1~nof to or less iavurabl€ thar the subjec: property, I have made a pos~ivead;ustmefTllDincrease the adjusted sales price of :he comparable 2. I nave taken into consideration ~he tac:ors j)al have an irnpac! un value Ir my d8Vel()Dm~nt 0/ rile esllmate 0/ market value in the appraisal repor: I have no: knowingly withheld any significam In/ormation from the ilPoraisal rc~ort and I believe, to ll1e bes: 0/ my knowlecge, :lla: ar. s13tements ane intorrr.a~on in the appralsalrepar.aretrLEandcorrecL 3. I staren in the appraisal reoort only my own personal, unJiase( and profESSional ilna!ysis. opinions. ane :onclusions, which are subjeCT ooly to tl1e cantingent aMII:TII:lngcarnlitionsspecifiedinlhistorfTl 4_ I bave no present or prospective interesf in ~'Ie property tnat is l1e subiec: ,0 :his repar:. and I have no present or prospeciive personal IntB'est or bias with respect (0 l1e par1icipants in fhe transaction, I did not base. either paI1ially or comOle;ely, my anaiysls and/or tile estim~te of market value in the apDraisal repor! on iherace, colOr, reli!lion, sex, handicap, familial s:atus,ornaliOIlilI origin 01 eilher:he prospec,iveoVlners aroccupants otlhe sub:ecl property O' 01 the present owm:rs or occupants 01 Ihe properties in !tie ~Icini!y of fhe subject p,';)perty 5. I have nc, present or con:emplateo future inierest in thE suu'eet p,apen',.' and Ileilrrel m,' curren: or luture e:npJoyment nar ITIi" compensa!ior tor perlorming this appraisal is conringenl or. IIle apPJGisec value Of the property 6. I was nol reauired to report a preneterminec ~alue or direction in value 1!lat lavors :he cause ot the client 01 <lfly related party the "moum oIlhe value estimate, the atainmem 01 a specific resun, 01 the occurrence or a subSEquent event in order 10 reCEive my compensation and/or employmem for performing :he appraisal. i jid not base lI1e appraisal repo~ onii reoues:ee rninimurrvalua:ion, a ~pec:fic vaiua:ion, mtne neet:o appravea snecitlC mor:gage loan 7. i pertormec ltiis appraisal in COnformity l'Iit~ the Unitorrr, Standards ut ProteSSlonal Appraisal Prar:l:r:e mat were adopter: a~d nromulgated by thE Appraisal Star;dards Board 01 The Appraisal Fuundation and :hai were in place as 01 tile effecflVE date at this a~oraisa:_ with the ao:ceptian 01 the t1epar1ufE provision or those Standards_ whicn does not apply I acknowlecg~ that an estimate 01 a reoso~able :ime fOI eXIl05~;" in :h~ opeil m~rket is a condi:ion in tl1e defmltron of market value and the estimate I developed is consisten: with the markel'n~ tmt no:ee in tot ~ei~hbofhooct sec:ion 0' this repor', unless I have otherwise stalec in the reconcilia:ionsection B, I have personal~' inspected :he in:e:!or oM extenOI areas 0; ttli; sutl!er:: prope:1y ane: .n, elcteiio' of ilJ! properties lisled as comparahles lIT !he appraisal report IIw1her certify 1Ilat I nave notee any apparent or known adverSE con:it:oils in the siJb!~ct improvements, on tne subjoc' site. OJ on any Sire wi:hin the immeciate vicinity 0/ the sublec: properly of which I am aware and have made Jd:~stments for :hese adverse concilians in m'i analysis 01 the properly value 10 the extent that I had mrket p.vidence to suppor. them 1 have also commenred about :rt eNe~: 0' t."e adverse c~nCll::Jfls on 'hE marketatJil.;ty of tile ~Jli:ect property 9. I personally prepared all co,lcluslons and O~iI1ions about :h!' IP,,1: r.slate that ",ere set fort;, in tne appraisal report, If I relied 011 si9nificanl proiessional assistance from any individuai or indi~iduals lIT the performance Of the a~llraisa; or Ine ~re~ara!lO]] of the appraisal report, : have namee suer, individualls) and diSClOSed the specific casKs performed by them in the reconcHia'iol1 secl;Jr of :Ilis Jpo1ra!sJI 'spcrt I certify :ha: anj-' incividualso nilo1led is QUoliliecto perJorm Ihe lasks_ I have nol au:hurized anyonf: te. IT:ake a c.lanQe to ao': itwn in the re~art: t~er~lore, j~ an l;nal;:nJri~ed chanq~ is If.ode ~o the app:-a!sal re:Jrt, I \'lilllaKe no fE"ponsibiirty tor i~, SUPERVISORY APPRAISER'S CERTIFICATION: ~ a supervisory' o;JIlralse' ~ived tne <1Jr.'il'sa: Je~or:, he or shr re::ihs and agreES that' I dlrectrj supervise the appraiser whe p:epared 1h8 appeals"1 renort, ~a'l,' reviewed rhe apo"a:.,al repo:". a~ree wi!li the s:ate'TIcms an:: con~l~sions n' tile appraise/, agree:o ne bound by the appraiser's cer:ificatiJn~ "Jml1er~d 4 :~I[[lugb i ~:Jve, and om ;akmg full :espons;biJitl' fiX Ihe appraisal a~d :he appraisal report ADDRESS OF PROPERTY APPRAISED: f?QJ.Delaware_Alle_~~_I.'!-,--,--tmrnokHlee,_"~}41.4;!___ APPRAISER: /1(, (, Signallrre: _!~_'_~-:-:-::_==-----_,_. __________ N.1r:1e- ..!::i!l.r:!Y_1:::IendeI:!Q..n. SRA ___~,..______ Da:e Signed AUQus! 25. 2010.__ .__~___.______~ Stalf Certification #: _~:r.C~RT.RES.REA RDOqQl,4Zi.______ or State License # ______ ___~ __.____ State Fl _.~_____.~__ Explra~on Daie of Ce:1iiiCa(ionorLlcense: 1Y30/10 SUPERVISORY APPRAISER (only if required): Signat:r€ --..._--- ---.--.----- "'iam~ "__'._______.___.__.___.._ Oa!eSigned'_._______ ________ _~ StateCfr1iITalian# __~_______.___ OrStoleLicel1Se#~_._____~ Slate' __________._______,__ Exp:ra!m~ Ua'e 01 Cerliti~atior; or License:_____ [lid Die No: I.~sper:: P'IJDer!Y I'REJlt.JtEDFORAKlPMOPtJlT'l'Of C<lU.EJt/XUtc1)'IOAAt'lOF~ REl.WCt l.I'C>>t APPR.\IsAL I'Clft OnQ USESJSfGf~TEO hddie Mac Form 439 6-93 Page20f2 Fannie Ma~ Form 1Q04B 6.93 Form ACR .~'WilTOTA~ W;rlis~! sotrware by a 12 'noce. Inc. _ t 80G-ALAMODE Agenda Item NO.1 A IMainFileNo.242acre~lpaM~112, 20 0 Page 37 of 4 APPRAISAL OF REAL PROPERTY LOCATED AT: NIS W. Delaware Avenue lrof SE1/4 of SW1/4 of SE114 01 See 4 N 307.09ft to POB, N 325.54ft, Sa9D, Immokalee, Fl34142 FOR: Immokalee eRA clo Collier County Gov. Real Estate Services AS OF: Augus~ 25, 2010 BY: Harry Henderson SRA Collier County Gov. Growth Management Division l'JlEPARED FOR AND flIROf'ERTY Of COl..UEACOlWTYIlk>>.RDCF~ RELWCEI.f'OfiIlf'flfU.lSA4,.FOAOno US[SlSfIIJT WAARANTm CollierCourlwGuvernment Form GA2 - "WinTOlll,L" appraisal software by a la mode. inc. -1-BOG-A:...AMOOE Agenda Item No. 1~A October 12, 20'10 Page 38 of 44 I ~B!tl,ig242anretriGLPaiie#41 SUbject Aerial I'REPAAfD FOR ItH) I1tOP6m Of COLl..ERCOl.lNtyBCWlOOf'~ FlEI.l.vc:t IM'ON "F"'VJ$AL FOR OlltER USES IS NOT WAIlfIANTW I Agenda Item No. 1~A MamRleNu 2.42acreIQa;~iffi 12,2010 LAND APPRAISAL REPORT Page 39 of 44 File No 2 42 acre tracl 'I Borrower Owner: RSG Famllv Limited Partnership Census Trar;t 112.(}4 Map Reference S4-T47.R29 PrOllerty Address N/S W. Delaware Avenue City Immokalee County Collier State FL Zip Code 34142 Legal Description 44729 Comm al SW Cnrof SE1I4 ofSW1/4 ofSE1/4 of Sec 4 N 307.09ft 10 POS N 325,~;4ft, S89Den E 360.48ft, 8 18fl48ft SalePrice$N/A DateofSaleJ'J~__LoanT!!l111.____Yrs. PropenyRigntsAppral500 L;::Fee :- LeasetlOld De Minimis PU Actual Real E5tareTaxes $ 572.51e51 (yr) loanCl1argeslobepaidb}'SellerS~Othersalesconcessions NIA ,-ender!C~errt l1TlmokaleeCRA .____ .fldd!ess cfoCo~CouI1!YGo\l_~aIEsta-'!:,~~!:yices Dccupam N/A -- -- Il.ppraiser Harry Henderson, SRA Instructions to A.ppraiserEslirnate Market Value Folio #I 00127565101 = Urban 2':} Over 75% CfullyDev. ~: Rapid Increasing ~. ~I Shor:age :=lUnder3Mos ~% 1 Family _J.9'~ 2-4 family .......Q..% IneuSlrial-1]% Vacart CnanlleinPresentLarnlUSe --'NotLikely (*)From vacant :2J Owner _,Tenant $---10,000 10$ 115.000 ~yrs,to~yrs ux:am:1l1 BulttUp GrowtllAate PmpertyVallJeS Demand/Supply Marketing Time Present Land Use ?co' Suburban ,Rural 25%1075% ': Under 25% == Steady '7 Slow z: S;ahle -~i Decllnrng ;KlnBalanre Oversupply 4.6 Mos. Over 6 Mos. .-1Q% Apts % Condo -2% Commercial 1 0% School -2~Llffily(*) To Predominan:Occupancy Sinllle family Price Aanlle SingleFami~Age j TakJng Place [~) residentla! ~%Vacant Pretlominan:Vaiue$ 65,000 PrecominantAge 25 yrs. Employmen~Slability Convenience to Employmem Convenience 10 SlKJp~ing Con~enience 10 Senools Adequar:y of Public TransportaUon R6t:rea~io~al facilities Ade~ual:Y of Ulili~iElS PropertyCompalibllity Pro:ection1romDelrimentalConclrtions Police and Fire Protec1ion General AppeaTanc~ oj Properties Ap~ealto Market Go~" Poor ralr C ~---" 1- _ l~ = L. I ,- I- i ~_.. I , ''--. I I~ I . I ; r ~ I' .' i [ t~- ( , FC j- 1- Comments incl:Jding those factors. fa~orable or unlavorable, affecting marketability (e,~, public parks, schools. view. nOlse):See attached addenda. --- ~lmenslOns Irreqular - 2_42 acres _ SQ, Ft, or Acres : Corner Lot Zoningclassificalion RMF-16 Presenlimpro~ements N! do A do Ilot confurm to zoning regulations Highest and best use .~ 'J Presan: use ~~:l{)ther (sp~~fl:'! mul1i-famllv deveiopment to a maximum densitY.Qf 16 units par acre Pubic Other (Describe) OFF SITE IMPROVEMENTS Topo Level ::lec. L] ,Stree1AL:cess L~ Pubiic I Private Size~ Gas I ~_~_!SlJfiace_~3l.dam Shapelrreqular Wa1llr ~--=- avail. : Maintenance [~:: Public l Pnvate View Neiqhborhood San, Sewer l_, avail. I ~- S:orm Sewer.' Curb/Gutter Drainage Adequate lJ Underground Elec:. & Tel,!L._~!~e'llal~_____,..,<~S~reet Ligh!~, Is tM propel1y locatl!d in a HUD Identified Special FJood Hazard Area? ~::;: No l_. Yes Comments ~avoralll8 01 u~fa~oralMe Inciudlng any aOJarent adverse easements, encmacnments, or olner adverse condihons): No adverse cond~ions observed (no survev' ~Q. for_~Y~Y.o'11he.site may be s~ct to normal perimeter easements oil. Qas and mineral riqhts of record,_ Flood Zone D, Comm# 120067-150G, dated 11/17/05 ____" _ . __,,_. The undersq;ooc has reciled three recent sales of p:opMies moSt Similar an~ p'~l11ale to s~bject and has considered t1ese In the marfle1 analysIS, The descri~lion includes a dollar adjlstmenl reltecbng -1Iarket reaction to tnosB item. of significam vanatioo between the subjecl ane cumpilr~b;e ~roperlie. If a sig1ilicant item in the comparable p:opertv is supenor to or more la~orable man Ihe sutJiecl property, a minus (-) adiustment is made tn~s redUCing the indicated value 0' subject i' a sig1if1cant ile'll in 1IIe comparable 1$ inferior to 0: less ;avorable U',an lI1e ~ub!ect praper1y. a pius (+) ad;~stmenll'i macle thus increasing the ineicated value of the subiect. iTEM ;;J-.l~ECTPRCI"ERTY COMPARABLE NO 1 COMPARABLE No,2 Aclclress N/S W. Delaware Avenue 2702 Immokalee Road SiE COT. N.l1lh & Roberts Ave ~Jmrn?~!3I~~,"fL34142 ~_ Irn.rn{)!':~~~LFl.:)_~_t42, ImmOkal~E_,.~L 3~~4J_.___,_ Proximltv:o SubitGL +:-_ , Pro~mate Proximate ~'L- u Tt NIA i$ 63,131Ia~ 1$ 40.268/ac ~. __ $ 1000,000 1~.240,OOO ~~ OR45~PG2510 OR4575~3~7 Date af Sale and DESCRIPTION D::SCRIP'TloN + {- '1$ Ad us, DESCRIPTlQf~L,-_.~llMiltS.t TlmeAorustme~l 2/10 __~__~Q.minal 2.1.10 Nominal Loca~on Farm Communi! Same _ Same S~el'Jiew 2.42 acres _ 15,84 acres --:--- InJi8c 5_96 a~~~s ~@P~ level level level Zoni~n RMF~16 RPUP: f;.3n Inst.PUD +4,026 J!TIprov~~.~~_fJ'~!..o!,_~~_"D~Q!IIfl~_____ __ ~1?78 .t>I.<?.!!~_,_.__---,-__,__ ~-~~-- CaSher Equiv Sales or R~af1Cjng Concessions NErtAdillmal Indicated Value a/Sublect Comments an Market Dala: Cash or Equlv. + , ~ 1 .- T. ---7 - : -7,891 + - 1~ 4,026 + ,- I 6,637 , , 55240 44,294 'I 41.567 , See attached addenda ,C9M_~AR.ABLfNO 3 8909 SR 82 -'~!llokal~_~JJo.3414~_~ Proximate 34.9301ac 175,000 \SA~SL -2.096 inS1ac In Slac +8.733 Cash or Equlv. Comments and Cornlilions of Appraisal: No aODlicable prior sales data for subii?ct or comps Subiect a~d comps are r;:ompared on a unit-price basis. The sales ciled are the best avaiiable. Rnal Reconcilialtan: All reliance qiven tq the Sales ComDar~~~ Approach Which !s rerAlonized as the least -;'ubiectlve indicator 01 value for nTonerties like the sub'act. $43.000/acre x 2.42 acres = $104 000 rounded. I ESTIMATE THE ..ARIlCT VALUE, AS PEFINED, Of SUBJECT PRPPERTY AS OF Auqust 25. 20 10 10 b~ s !/( /( - --- ~ !~ . ,~ Harry Henderson SRA A.pprais-;(s} ~1Ki ReviewAppraiserliiapo;:cable) 104.000 __ Die Did Not Physieal~ Ir:specl Property Collier County Govemmem Form LND - 'WinTOTAl' appraisal software by a la macle, il1C, - 1.800.ALAMDGE "~FrED FOR AHO PROPERTY flF 'JONTYBOARDOfr ~ "lJ.\NCE.I.PONAP9RAISAlFOROlJEJil w...,o;:s IS NOT WARRAMrtO u.. I I Iwl , Cl <( i~ I .., t: -I rl <:l' I - 'e' ,,,j /o7l.l") ~ L~g~n~1 n@rtt'"' 1 S .j:a/~:;J'PrW I ! ~ ~ ~ Cf;tQbef~';':.:20iAo '" .. -=r>;!,y..<" " w w' .. Pane< ~5~~:1: ~~ ..}/-(1~' '" ~ Ii !;2!Z ~~",gB .il! . ~4,O of 44 ...,...J ,", .,' ~ -' ""~,,.. ! <(- 2"'......"5 ... . ;"-} . ~,;;: '" .;: /~c r;'" /'. !i;:::>~~" I o~wB~"",~'L~:~:='~~.' :; j/...J <;:;5t.:'.:1~;;:3;t" ::eo~",~i:i!..~,..~~,:;;;~~ I j'fl//'.~ m~H!!!!~! ,;; H.jl!!~~iHn I ,. . W fill Wilt ""'><(') ee c:( 0<: It lXl '.... o 'V ::: o' (') :l!!' ~' ." ~ ~ ;.;. '\ - ~ l.!;l\ , I ;mm!mwl1~!! .. <O...",u t:.:, ~\ ~\........ ,- N G :;0:: !!1JI( ~ <J;, -'"''-'''''\~"~'' ::'~'" bg" 11 :~ ,TC"~"" [~m~:_~~~r. ~ "~.' u.. ~ ,s~~rP.- 1-1 iwlmhhihmi : ro N "' !fIlUliiihi1!hl; ~~~ ..., ~~~ ~d ""'fl' i~~ '< o.::'~ r-i . ! m N , 10. iiiliiIWilI:!!!!' w ";<:'-;~~ ~u O~;m!~;!,.mlJf!U ........ . '" __" _, ~ r; ~~:: :;; '" ~ I' ,~l J ~ <[ j.. j~a ~ t ~~ ~ 'E ~~' .;'=1 >- UJ ,,~~ u ,~ " . q," co ., '. N n o~~ M..' I . ._ J <(I '~~~~'--r- ,_____ - - "'-~L",~ ]~ ~_I C\l I --- --_ . _J, ___, M T- __ __._ __'-_ <:t c, ,... ,... = '_0 = ,::..) P\'lEP.IlJlU)fOfl,Vo() ; COUOCQUNTYBaI.Rl) PJlOl'anl'or- ~ RSJAIC[l.J>ON Of~ ,..:", ,JJ~$1S~Fl>>OTHaf ," 'NIUlRANl'ED ~~~=-c~ ~ , , " , .., .C) r'~ .'.j :3 ~ '> j w o (jJ ~~~~~7'~ c _;::;r:~';'HT-< .... .' ~,' C';,~~. r}_~!),~l i _GI :.1 I ',"'-;---'~ IF"] "~~ : ~j d~ comp #3 Page 1 of 1 Agenda Item NO.1 October 12, 20 rage 41 of Print Map StrllH!t.._ 1'"........ ...Ul.....OM ........... 2OOIIll~E.ET) c;om...toun'l' Numb'r:00050290006 ,CCGPLlC & Name: B909 SR 82 LoIl.IOeMe,lplion:54Cl28APART Of SECTION 5 OESC AS: COMM AT NWCNRRUNN811DEGE 1OS0511 FFALG NLlTO+ OF NLV RfW OF SR S2THE ~200.0 Coli,.. Cn~n'v P<opoe<ty Appr.,...' 'MlIl.ln. Coli"" CoU"'. Pro.."" Ap~~:" ~:,~"::~S;\~O::";;:I~~ :::=~:;.~".\" ond up.l<>-Oa1< i'l1orm.l,on, eow.".ol,M".pro...O er ,mph~.", III"..;lIod PMEPAREDFORAHOPROPfRTY :)l ca.lER COl.NTY Il>>RO OF COMMlSSl(ji>:ER~ R8.WCr ~ o\PPfWSAl.FOROTHfI1' USESIS NOT WAAAAN1't:P BQrrowerlC~ent Proe Address Ci L,,,,'er Supplemental Addendum Owner: RSG Famil Limned Partnershi NIS W. Delaware Avenue Immokalee Cou Colier Jmmokalee CRA IMam"TONO'A~;re~~~~;:' 1~~2~~ Page 42 O~~4 f,i,N0242.,," ,,,ct I State Fl Zip Code 34142 . Land: Neiahborhood . Descrietion The subject is located OIl the south side of the Immokalee community. south of Main Street and west of 1st Avenue S. Immokalee is an unincorporated farm oriented community situated in northeastern Collier County. Citrus groves. vegetable growers and open grazing lands surround the bUilt"up areas of the Immokalee area: as such, farm workers comprise a significant portion of the local population. A iarge farm market, produce packers and a Seminole Indian operated casino are prominent in the area_ Housing options range from trailer parks, manufactured homes. single-family dwellings. condos and garden apartments. Essential services (shopping. professional offices) are available locally along Rt 29 and Main Street Maintenance levels are mostly average; future marketability appears to be favorable. . Land: Market Data The subject and camps are compared on a $/acre unit.price basis, this negates the need for size adjustments: all adjustments are applied using a percentage unilfprice factor. Prices have been stable in this market during 2010 but had been declining during 2009, a negative 6% time adjustment is therefore applied 10 camp #3 only, Differences in zoning are considered based upon observed market dynamics (-10% camp #1. +10% comp#2. +25% comp#3). Note that camp #1 included a small house and outbuilding which is adjusted for accordingly_The lower end of the indicated unit-price range is given most weight in consideration of the currently weak economic conditions in the market. A unit price of $43.000/acre is selected as most reasonable for the subject lands at this time. Thus- 242 acres x $43,OOOJacre" $104.000 (rounded), Note that e Slightly higher unit-price IS selected for this trect (relative to rhe previously appraised adjacent parcel) due to its marginally superior zoning density ~ fOR NlDPROPERTY Of cou.oCOlNfYIKWlDOF~ AE1WCt lI"'l>>l ~fOOO1l€R USESiSfIIOT~'fU) Form TADD -- ''WinTOTAL'' <lppra~sa! ~oflware by (lla mode, me - !.BOO.ALAMODE Agenda Item NO.1 A IMamFileNo,24?a[;ret~dt1fJb~ 12 2 10 Page 43 of 44 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competiiive and open market under all conditions requisitE to a fair sale, the buyer and sell€r. each acting prucenlly, knowleogeably and assuming the price is not affected by undue stimulus Implicit in this defmition is the consummation of a sale as 01 a speclfiec date and the passing of title from seller to blIjlel under conditions whereby: (11 buyer and seller are typlcalty motivalfld; (2) both parties are well intormea or well advised, and each ac1ing in what he COllSiders his own besllrrerest: (3) a reasonable time is allowed for expClSure in the open mar~et; (4) payment IS made In terms of cash In U.S. collars or In terms alflnancial arrangemerrts comparable thereto, and (5) the pnce represents the nannal consideration for lh~ prop~rty sold unaf!e::ed by special or creati~e financinQ or sales concessions' gramed by anyone associated with the sale. . Adlustments to the comparables must be made lor special or crea,i~e lina:ncing or sales concessions. No adjustments are necessary for tt'lose costs which are normafiy paid by sel~ as a resu~ of tradition or law in a markel area: these costs are readily iden~iliatlle since the seller pays these costs in vir:ually all sales transactions. Special or creative financing aClustments can be made to the comparable properly by comparisons to financinQ lerms offered by a third party institulional lender lhat is not already IIlvolved in the property or Iransac:iOll. Af'Ij adJustmem shollid ro! be calcuiated on a mechanicat dollar for dollar ;;ost of the flnancilllJ or concession but the dollar amoum 01 any adlustmenl s~ould appro,l(imate the market's reaction to :he financing or concessions based on the appraiser's ludgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certificaUon that appears in the appraisal report is sublect ,0 lhe mI10wing condiUons: 1. The appraiser wW no: be responsible lor matters of a legal nature that aHec, either the property being ~ppr~ised or the :itle to n. The appraiser assumes tllat the :itle is goo~ and marklrtable and, therefore, wi~ not render any opinmns about lhe title. The properly is apmaised on :he nasis or it being under responsible ownership. 2. The iIjIpraiser has provided a sketch in t~ iIjIpraisal repar: to show approximate dimensions of the improvemems and tl1e sketch ls included onl~' to assist t~readerofthereportmvisuallzingthepropert'Jandunderstandin~theappraiser's determination 01 its size. 3. The appraiser has examined tile available flood maps that are provided by the Federal Eme~gency Ma~agemenl Agency lor other data sourc!lS;' and has noted in the appraisal report wheiler the subjec~ sire is located in an Idel1l:ifled Special Floo: Hazard Area Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determi[Ja~on. 4. The appraiser wHI not give tes:imOl1Y or appear in cour'. because he or she made an appraisal 01 the property in Question unless specific arrangements 10 do so have boon made beforehafid. 5. The appraiser has ~stimaled :he value of the ia~d ir tile cost approach a: ilS highesl and best use and the :rnprovements at l~eir contributory value These separate val~aliOl1s of the lane and ir.:pwvemerrts mus: no: be used in conjunc;ion with anI' other appraisal and are invalid 11 ~hey are so used 6. The appraiser has nmed in the appraisal report an,' a:verse cOMiiions (such as. needeD repairs, depreCiation, the oresence of ~azardous wastes, toxic substances. etc.) observed during the inspection of ;he subjecl ploperty o~ that he or she became aware of during the normal research invoi'led in performing :he appraisal. Unless oltlerwise stated in the appraisal rellor'., the appraiser has no (I\uwledge 01 any Ilidden or unapparent cnndilions of :h~ property or adverse envirormentar conditions (including the presence 01 haza:"dous wastes, bxie subs;ance5 etc,i tha~ woule make the Droperty more Dr less valuable, and has assumed that trere are no such condl[ions and makes no guarantees or Vlar:arrties. express or imo:ied, regarding the condition of :h~ property, The appraiser wi" no: be responsible lor any such conditions ~hal do e:o:is! or fOI anI' engineering o~ testil"(l lha: might be requirec to discover whethllf such conditions exisl Because the appra;ser is not an expert in :hE field of environmental hazards, the appralsa: repal": must not be considerec as an environmental assessmen; of the property 7, The appraiser obtained ~Ile inlom;ation, estimates. and opinions tlla' were expressed in the 8ppraisa: repor: tom sources Iha: h~ or she considers to be reliable and believes tlJem to be trup. and correct. The appraise! does n01 assume responsioility for the accJracj' of wcn items :11.11 wele furnished b~ o1her parties, 8. The appraiser wiil not disclose the conten:s of :h~ allpraisal repor. except .s proviced tor :n ,tIe Umform St~ndards of Protessional Appraisal Practice. 9 The appraiser has based his or her appraisal report and valuatiOn conclusion for an appraisal tha: is subject 10 satisfac:ory completion, repairs, or alterations on the assumption that completion of ;he improvements will be performed in a workmanlike manner 10 The aopraiser must provide his or her prior ~mten consent helore the lende~/cliem specl1ied in the appraisal report can dis:ribu:e the appraisal report lincluding conclusions about the property ~alue, the appraiser's identity and professional oesignations, and references to any prolessioI1ll1 appraisal organizations or the firm with which the appraiser is associ~lad) to anyone othe: :han the borrower: the mortgagee or its successors and assigns: me mortgage insurer: consultants; professional appraisal organizations: any slate or leoerall\, approved financial institlluorc: or any cepar:men!, agency. o~ hstrumemali\y of the Uniled Stales or any slate Dr the District af Columhia; e):Ceptlt1at toe lender/clien: may dist'ibute ~he propertJ.' descriptian sec'jon oi lh~ report only to cata Golleclian or reponing seI'Jice(s) without ~aving to on:ain the aopraiser"S prior wri1en consem The appraiser's w~iIlen cor.sent a1d approval must aiso be obminee belore the appraisal can be conveyed by anl'one 10 !he public through ao~er.ising, pubiic relalions, news, sales. or oltw media ~FOfl:NCPAOP(RTYfE COlLER COl.MY IIOUlO (IF" t(" - ""llRS AnJAM:ttJPOtri4l'AWSArll'OJlonot tJ5[$lSNOT~ Freddie Mac Form 4396.93 Page1of2 Fannie Mae Form 1004a B.93 CoilierCounty Governmem Forrnf.,CR - "WinTOTAL' appraisal software by a la mode, inc. - 1.80G-ALAMODE Agenda item No. 14A iMmnll~acretraclrH~ 12, 2 10 Page 44 0 44 APPRAISER'S CERTIFICATION: Tht Appraiser cenrtie3 and agrees that: 1. I hove researched the subleci marke~ area and have selected a minimum oj three rEcen: sales of properties most similar one proximate to the SU~lec~ pfoperry for consideration in lire sales comparison analysis and have made a do~al adius:mel1: when aPpropriate to reflect the marke: reaction to those rtems oj signilicanl variation. H a signiflcarr: item in a comparable properry is superior to. or more favorable than the sLJb:eCl property. I have made a negative ad:ustmerrt 10 reduce me adjusted sales price 01 the wmparable an<!, ir a signiii:ant i:el1' in a comparable orepnly is Interior to. or less favorab~ than Ine subjl!C! prooerty. I hove made a positive ad!llSlmen! to increase ltlf! a:Jjusled sales pliceol~he comparable. 2, I na~ taken into consideration the [actor, t~at ha~e a~ Impact on value in my development of the estima:e of markel value in ;he appraisal recall I have not lqJowinqly wilhhekl afly signiiicanl information from me appraisal r~Dor: ilnll I beli!l\le, to the best of my knowledge, tMt ai' s:atements and iniormation in ~he appraisal repon are tHI! and correct. ~, I staled in :he appraisal mpor. only my own personal. unbiased, anC orofeSSronal anal,',is opinions, arnJ conclusions, wllich are sublect only to the con:ingent and limiling cornli:ions specffied in this torm ~, I have no present or prospeclivf inleres~ in :he properly that is tile svoleet to ~his repor. ilnd I have no present or ~rospeclive personal ir.terest or bias with respect to the participants in tne transaction, I die nOI base, either partially or completely my analysis and/or the estimate of rnarke: value in tlTe appraisal report Of; tre race, color, retigion, sex, handicap, familial stalus, Of nationa' Origi,' of ei:her the prospectiv~ owners (JI occupants of th~ subJe-::~ property or of the pres~nt owners or occupants at the properties ic !tie ~icinity 01 tile suble"~ proper'!y 5. I have no ~Iesenl or contemplated future Interest ir :hE SlJbieC~ ~roperty and neither m\' currer.: ar :lIture emrlOi'mel1l nor lly compensation iar periorming tllis appralsai is contingenton:he appraiseC value of lhe property 6. 1 was not required to report a predetermined value or direction in value mat favors the cause of the Client 0' any rela:ed oar:y, the amount of the value estimate, the attainment 01 a SjJecilic result or the occurr~nc~ Of ? su~seQuenl event in order to receive my compensation andlor emp!o,'menl lor pertorming the appraisal. I did not base the appraisal repor! on d reques'.e: minimum \'all>il:iun." specific' vdlu(l:ior', or tl'8 ~ellC :11 ilpprove a ,p8Gif;c 1'lD'~yage luan 7, I per10rmed this appraisal in conformity witn the Uniform Standards of Prolessio~al Appraisal Praclice tnat were adopted ane promuigated OJ' lne App:aisal Slandards Eloare of The Appral5al Foullda:ior. anC tnat were in D~ce as [It IIIP. efteclil'f date of :hrs appmlsal, wim tie ~Kception of the departure provision 01 those Standards, which does nol aPP~11 acknowlfdQe tha~ an es~ifTIate 01 ;] reasonabl~ ,Ime fo' exposure if: IIle opell rf,al~e: IS ;; conditron If :ne definition 01 market value wd :he estma1e I developed is consistem witll the markelln~ time no:ed m me neighborhood sec:i01 of mis report, uniess I have atherwise stated in the rfconciiiationsection B i havf oersonally inspe:le: th€ interior (lnc exterio: ar~as o~ thc sub,ect Dr[)~er1y and the excerilJl or a'i r.'ope:1ies I:sled as eJmnarabl~s in the ap~raisal report I flJr!he~ certify !hat I have no:ed anI' appa'em or known adverse condi:ions In :he subject improvements, 01 lne subec' site. or on any si,e ....,'itnir ttle immediate Vicinity oflhe sublect property oi which I am aware and have made adivstml3l1ls tor :hese adverse conditions in my analysis of ihe propertl'valUflto [he eKlenl that I had mafli;el !!Vidence to supponlnem, i have also cO;'l1mented ~bou! :lle efteci of the ad~erse conditinns an Ihe1Wkelilbillty o~ the s~b,ecl property 9. I oersonally prepareO at con:luslons and opinions aoort tne rea: estate tnat were set ~ortn In Ihe appraisa repor., " i rehed on Significant professional assistance from a~y im:!ividual or individuals in :h~ pe;!armance Of the appraisal 0' tile pre~(lration of tne appraisal report, I have 1amed suer indivlcua!(s) am:! disclosed the spe:ilic tasks ceriormec b~ thp,m :r, tn~ re:or.ci'la:ion se:tlon ~' Ill" appraisal 'eocrt, I ce,,,;,tJ' :ha: any Ir,divloual so na'1led :S Qualified to pef'fo;m the iasks, 1 have not au!Mriz~(i imYJn~ W make " ::nan~~ Ie any it8m in ttJp re:;:Jrt; :n8relJre. if ;m lInau:horile:J cha1ge IS m~de to t~e app:alsal rer-or:, I ,viII :ake no responSibility for~, SUPERVISORY APPRAISER'S CERTIFICATION: I: i. SIOf,l~ISO!V aapro:sel signee lilt appraSiilrf:pOil. Il+"! or she c"rtiiics ane agr~es ~l1at. : directiy supervise :hE appra:ser who prepareC the appraisal report, nal'c reviewed the ~pprai5a' repo:: awe!: w:!!' :hf sta:eller:s ane cilnc:us:ons of ttJe ~ppraiser agree:o be bouoo by the appraiser'S cer.Hicalions r,~mbered ~ i1rough 7 a~ove, and am :aking!ull re5ponsibility for the a~pmisal and :he appraisal report, ADDRESS OF PROPERTY APPRAISED: N:'_S '1'\/ Del_awRre0\,'e.nue,_ITI1_mok,!I~?,F~ 34142 APPRAISER: I! r /! ( Signature: Name: Harry Henoerson_ SRA DateSigned AuouSl252010 Sla:e Certification #: ST.CERT,RESREA RD0003475 o~ Stale license # _ ______ S~:e:.i~__.~,..~__,__________ Exp,rabon Oa!e 01 Certification or License 11/30,'10 '----------.- SUPERVISORY APPRAISER (only if required): ,( Siqr>l:lIre: ____ _ _ ___________ ~\ame: Ja:tSig~ed ____ S:areCe,'":i:ication # :yS'.ateLicense#____~_____ St~te'_.~__ __..___ Expira:ion Date 01 Cer;ificalionorLicense:___"__ ____ O:d DidNotlnspeetProp€lt'j Freddie Mac Form4396-93 Pa~e 2 of 2 ~nie Mae Form lQ04B6-93 I'REPAAEDFOlfNol[)~OF -I CQLo COlMTY 9tWlD OF COf.M~ RELwutFOfil~S4lF'OROTl:D USESIS..,r~ ,0r;11 ACR - 'VlinTOTAL' appraisal software by a la mode, inc - . .8~O-ALAMODE