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Agenda 04/22-23/2008 Item #16B10 Agenda Item No. 16B10 April 22, 2008 Page 1 of 53 EXECUTIVE SUMMARY Recommendation to approve a First Amendment to the October 22, 2002 Sabal Bay Development Contribution Agreement for Road Impact Fee Credits extending the duration for five (5) years and the Second Amendment to the October 14, 2003 Companion Agreement providing for a change in land conveyance means for portions of the Lely Area Stormwater Improvement Project (Project No. 511011) OBJECTIVE: Obtain Board of County Commissioners approval of the fIrst amendment to the October 22, 2002 Sabal Bay Development Contribution Agreement for Road Impact Pee Credits and the second amendment to the October 14, 2003 Companion Agreement providing for conveyance of land for a portion of the Lely Area Storm water Improvernent Project. CONSIDERATIONS: On October 22, 2002, Collier Land Development, Inc. and Collier Developrnent Corporation (CDC) entered into a Standard Form Developer Contribution Agreernent for Road Impact Fee Credits with Collier County. On October 14, 2003, the Collier County Board of County Commissioners approved a companion agreement to the Developer Contribution Agreement (Item lOB) supplementing the original agreement by providing for proportionate fair share land and construction costs determination associated with completion of portions of the Lely Area Stormwater Improvement Project (LASIP). On March 27,2007, the Collier County Board of County Commissioners approved the first amendment to the companion agreernent (Item lOG) providing for acceptance of. 1. A land valuation appraisal report of real property necessary to construct LASIP components located within the Sabal Bay development; 2. A calculation of proportionate share basis for reimbursement of the actual construction cost of LA SIP components located within the Sabal Bay development; and 3. A project construction budget for the LASIP Lely Main Canal. Construction of the LASIP Lely Main Canal is currently near completion. Anticipation of conveyance of this water management facility to Collier County within the next several months necessitates the need for the subj ect amendments. The primary elements of the amendments include: 1. CDC granting Collier County an easement for the Lely Canal and Avalon School Outfall in place of a fee simple deed. The Lely Manor Canal Western Outfall and Spreader Lake will be conveyed via deed as prescribed in the original agreement; 2. The County reimbursing CDC for the value of the easement instead of a deed for the Lely Canal and Avalon School Outfall, based on Integra Realty's appraisal report dated July 26, 2007; 3. CDC dedicating and conveying an access easement to the County for the purpose of constructing and maintaining the Lely Manor Canal Western Outfall and Spreader Lake; Agenda Item No. 16B 1 0 April 22, 2008 Page 2 of 53 4. The County extending the duration of CDC's Sabal Bay Road Impact Fee Credits for a period of five (5) years to October 22,2014. FISCAL IMPACT: Per the amendments changing the conveyance of land for the Lely Main Canal and Avalon School Outfall from fee simple deed to easement will result in an estimated savings to Collier County of $182,447 reducing the total estimated land cost to $1, I 05,003. Per the original Companion Agreement reimbursement for the easements and remaining fee simple land costs will occur within three (3) years of conveyance. Reimbursement for the construction and design costs of the Lely Main Canal and Spreader Lake, estimated to be $5,016,307.98, will be within sixty (60) days of final completion and acceptance of the project. This is anticipated to occur during this fiscal year. Funds in the amount of $5,016,307.98 are available in the Stormwater Capital budget Fund 325, and this Executive Summary requests approval of a budget amendment to move funds from various Stormwater projects and appropriate the funds within the Lely Project. GROWTH MANAGEMENT IMPACT: The Lely Area Stormwater Improvement Project is listed as CIE Project No. 291 and is in accordance with the intents of the Drainage Sub-element of the Public Facilities Element of the Growth Management Plan. RECOMMENDATION: Approve the First Amendment to the October 22, 2002 Sabal Bay Development Contribution Agreement for Road Impact Fee Credits extending the duration for five (5) years and the Second Amendment to the October 14, 2003 Companion Agreement providing for a change in land conveyance means for portions of the LeIy Area Stormwater Improvernent Project (Project No. 511011). Authorize the Chairman to sign the amendment for the Board and approve the necessary budget amendment. Prepared By: Jerry Kurtz, P.E., Stormwater Management Department Attachments: (I) Agreement Amendment; (2) Easement (agreement amendment Exhibit I); (3) Agreement Exhibits I-A, I-B, 2, 3, 4, 5, 6; (4) Exhibits existing from previous agreements referenced in the proposed Agreement Amendment (Exhibit B-3 pages, Exhibit C ~ 3 pages, Exhibit F - 2 pages, and Exhibit G - I page) Page I of2 Agenda Item No. 16810 April 22, 2008 Page 3 of 53 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: Item Summary: 16B10 Meeting Date: Recommendation to approve a First Amendment to the October 22,2002 Sabal Bay Development Contribution Agreement for Road Impact Fee Credits extending the duration for five (5) years and approval of the Second Amendment to the October 14, 2003 Companion Agreement providing for a change in land conveyance means for portions of the Lely Area Stormwater Improvement Project (Project No, 511011) 4/22/2008900.00 AM Prepared By Gerald Kurtz Senior Engineer Date Transportation Services Stormwater Management 4/11/20089:05:10 AM Approved By Sharon Newman Accounting Supervisor Date Transportation Services Transportation Services Admin 4/11/20081:27 PM Approved By Norm E. Feder, AICP Transportation Division Administrator Date Transportation Services Transportation Services Admin. 4/11/20084:03 PM Approved By Scott R. Teach Assistant County Attorney Date County Attorney County Attorney Office 4/14/20084:47 PM Approved By John Vliet Roads Maintenance Superintendant Date Transportation Services Road Maintenance 4/15/20089:26 AM Approved By Nick Casalanguida MPO Director Date Transportation Services Transportation Planning 4/15/20084:32 PM Approved By Pat Lehnhard Ex.ecutive Secretary Date Transportation Services Transportation Services Admin 4115/2008 4:40 PM Approved By John A. Y onkosky Director of the Office of Management Date County Manager's Office Office of Management & Budget 4/15/2008 4:59 PM Approved By James V. Mudd County Manager Date Board of County file://C :\Agenda Test\Export\ I 05-April%2022, %202008\ 16. %20CON SENT%20AGENDA \1... 4116/2008 Page 20f2 Agenda Item No. 16810 April 22, 2008 Page 4 of 53 Commissioners County Manager's Office 4/16120089:06 AM file://C:IAgendaTestIExportl 1 05-April%2022,%2020081 16.%20CONSENT%20AGENDA II... 4/16/2008 Agenda Item No. 16810 April 22, 2008 Page 5 of 53 FIRST AMENDMENT TO OCTOBER 22, 2002 STANDARD FORM COLLIER COUNTY CONTRIBUTION AGREEMENT FOR ROAD IMPACT FEE CREDITS AND SECOND AMENDMENT TO OCTOBER 14, 2003 COMPANION AGREEMENT REGARDING THE LEL Y AREA SURF ACE WATER DRAINAGE IMPROVEMENTS THIS AMENDMENT is made and entered into this _ day of , 2008, by and between Collier Land Development, Inc., a Florida corporation (hereinafter referred to as "Developer") and CDC Land Investments, Inc., a Florida corporation, formerly known as Collier Development Corporation, a Florida corporation (hereinafter referred to as "CDC"), which, along with their respective successors and assigns, may be jointly referred to as "CDClDeveloper," and the Board of County Commissioners of Collier County, Florida, as the governing body of Collier County (hereinafter referred to as "'County"). RECITALS: WHEREAS, the parties entered into that certain Standard Form Collier County Contribution Agreement for Road Impact Fee Credits dated October 22, 2002 and recorded in Official Records Book 3138, Page 2357 of the Public Records of Collier County, Florida (hereinafter the "Contribution Agreement"); and WHEREAS, the parties entered into that certain Companion Agreement to the October 22, 2002 Developer Contribution Agreement Regarding the Lely Area Surface Water Drainage Improvements dated October 14,2003 and recorded in Official Records Book 3424, Page 337 of the Public Records of Collier County, Florida (hereinafter the "Companion Agreement"), as amended by that certain Amendment to the October 14, 2003 Companion Agreement Regarding the Lely Area Surface Water Drainage Improvements dated March 27, 2007 and recorded in Official Records Book 4218, Page 1451 of the Public records of Collier County, Florida (hereinafter the "First Amendment to Companion Agreement"); and WHEREAS, paragraph 32 of the Contribution Agreement and paragraph 13 of the Companion Agreement allow for amendment or modification upon the mutual written consent of the parties or their successors in interest; and WHEREAS, Developer and County have agreed to amend the Contribution Agreement and the Companion Agreement, as amended, as provided herein. WITNESSETH: NOW, THEREFORE, IN CONSIDERATION of Ten Dollars ($10.00) and other good and valuable consideration previously exchanged between the parties, and in consideration of the covenants contained herein, the parties agree as follows: 1. All of the above RECITALS are true and correct and are hereby expressly incorporated herein by reference as if set forth fully below. 2. Paragraph 5E of the Companion Agreement is amended as follows: "E. CDClDeveloper shall dedicate and convey, at no cost to the County, all rights aHa iRteresto it Bao Ie a drainage easement for the existing Lely Canal that historically has been maintained by Collier County. A graphic rendering of this area is shown as "Lely Page I of8 Agenda Item No. 16810 April 22, 2008 Page 6 of 53 Canal (Existing Conditions)," attached hereto as part of Exhibit B, calculated therein at 21.2 acres. All references to acreage herein, including this reference, are estimates only, with a final determination of actual acreage to be determined in a customary manner by the County." 3. Paragraph 5F of the Companion Agreement is amended as follows: "F. CDC/Developer shall dedicate and convey to County a drainage easement for an additional 14.3 acres for the Lely Canal, representing the area of the widening of the existing canal. A graphic rendering of this area is shown as "Lely Canal (Per I 985 Master Plan)," attached hereto as part of Exhibit B. Collier County shall pay CDC/Developer the appraised fair market value for the 14.3 acres drainage easement and the land valuation shall be apprised as the value of Agricultural zoned land on the day before the County's 1986 rezoning to "PUD" of the CDC DRIIPUD land." 4. Paragraph 5G ofthe Companion Agreement is amended as follows: "G. The current LASIP Project design for the Lely Canal substitutes a spreader lake in place of a spreader water way. A graphic rendering of the spreader lake is shown on "Lely Canal (Per LASIP Design)," attached hereto as part of Exhibit B. This spreader lake is approximately 13.87 acres. Collier County shall pay CDC/Developer the appraised fair market value of a drainage easement over these 13.87 acres, and the appraised valuation shall be determined as of October 23, 2002 when the County and CDC/Developer entered into the Contribution Agreement, with the valuation based on pre-PUD Agricultural zoning. As an offset to this purchase price, the County will be credited for 18.6 acres of CDC/Developer land (3.1 acres upland, 15.5 acres wetland) of the 26-acre spreader waterway canal. A graphic rendering of this area is shown as "Lely Canal (Per 1985 Master Plan)," attached hereto as part of Exhibit B. This credit will be based upon an appraisal, and valuation shall be appraised as of the value of Agricultural zoned land on the day before the County's 1986 rezoning to "PUD" of the CDC DRI/PUD land, considering the spreader canal's land characteristics as either wetland or upland. " 5. Paraf,'faph 3 of the First Amendment is deleted in its entirety and replaced with the following new paragraph 5(K): 6. "K. Upon perfonnance of the Companion Agreement as amended bv the First Amendment. and as otherwise provided herein. Countv agrees to reimburse CDC/Developer for the conveyances of (i) land in fee simple (specificallv. the Lelv Manor Canal described in Paragraph 8 of the Companion Agreement) in accordance with the summary report of the real propertv appraisal from Integra Realtv Resources dated February 5. 2004. attached hereto as Exhibit "2". and (ii) bv drainage easement (specificallv. the Lelv Canal described in Paragraph 5 of the Companion Agreement, as amended. and the Avalon School Outfall Canal described in Paragraph 7 of the Companion Agreement, as amended) in accordance with the summary report of the real propertv appraisal from Integra Realtv Resources dated Julv 26. 2007, attached hereto as Exhibit "3". As to the County'S share of the actual costs of the design, permitting and construction. the County agrees to the proportionate share calculations rendered bv RW A Consulting. Inc. provided to the Countv on January 19. 2007. attached hereto as Exhibit "F" to the First Amendment. The Countv further agrees with the current proposed proiect Page 2 of8 Agenda Item No. 16810 April 22, 2008 Page 7 of 53 budget submitted bv CDC dated January 19.2007. attached hereto as Exhibit "G" to the First Amendment." 7. follows: Paragraph 5 of the Companion Agreement is amended to add a new Paragraph 5(L), as "L. The parties acknowledge and agree that CDC/Developer shall construct the Lelv Canal in accordance with a Modified Drainage Design. and that CDC/Developer shall dedicate and convev bv drainage easement lands for the Lelv Canal to be constructed bv CDC/Developer. Accordinglv. upon the completion of construction of the Lely Canal. bv CDC/Developer. the Drainage Easement recorded in the Official Records Book 157 at Pages 269 tbrough 270. inclusive. of the Public Records of Collier Countv. Florida ("Existing Easement") shall be terminated and replaced bv the drainage easement as set forth in Exhibit "I" attached hereto and made a part hereof which reflects the meandered. non-linear canal design (the "Replacement Easement"). The parties further acknowledge and agree that the (i) Replacement Easement set forth in Exhibit "1" attached hereto shall depict 52.27 acres of easement area and (ii) County's LASlP design plan for the Lelv Canal contemplates 49.37 acres of easement area. The County agrees to pay apd Developer agrees to accept the valuation based on the 49.37 acres which represents the oricinal 3 segments of the County's LASIP design plan less the credit of 18.6 acres set forth in Paragraph 5G of the Companion Agreement. The granting of the 52.27 acre Replacement Easement satisfies all of the Lely Canal land convevance requirements described ahove in Paragraphs 5E. SF. and 5G." 8. Paragraph 7 of the Companion Agreement as amended by the First Amendment is deleted in its entirety and replaced with the following new paragraph: "7. Regarding the Avalon School Outfall Canal: A. The Avalon School Outfall Canal is depicted on the attached plan marked Exhibit "'4". B. CDClDeveloper shall construct the Avalon School Outfall Canal as approximatelv depicted in Exhibit "4". attached hereto and incorporated herein. upon the conunencement of construction of the Sabal Bav Development adiacent to Avalon School Outfall Canal Svstem. Within thirtv (30) days following completion of construction of the Avalon School Outfall Canal. CDClDeveloper shall convey bv drainage easement land needed for the Avalon School Outfall Canal Svstem drainage improvements. and the parties hereto shall execute and record. a form of the drainage easement substantiallv similar to Exhibit "I" attached hereto and incorporated herein. As to the Fern Street Relief Svstem. CDClDeveloper agrees to maintain the current positive outfall alreadv in existence which adequately convevs stormwater flow from Fern Street. C. The Countv shall reimburse CDC/Developer for the value of the dedication for which the County is responsible for payment within three (3) vears of the date the real propertv or easement is accepted by the Countv and shall be valued based upon an appraisal. and valuation shall be appraised as the value of Agricultural zoned land on the dav before the Countv's 1986 rezoning to "PUD" of the CDC DRIIPUD land. Notwithstanding the foregoing. the Countv. during anv fiscal year. shall not expend monev. incur anv liabilitv. or enter into anv contract which. bv its terms. involves the expenditure of money in excess of the amounts budgeted for such proiects as available for expenditure during such fiscal year. Accordinglv. the Parties agree that the Countv's performance and obligation to pav within the timeframe provided under this Agreement is contingent upon an annual appropriation bv the Board of Countv Commissioners of Page 3 of8 Agenda Item No. 16810 April 22, 2008 Page 8 of 53 Collier County. In the event funds have not been appropriated to timelv make payment as provided herein. CounlV shall, within ninetv (90) davs of learning of such non- appropriation. give CDC/Developer written notice of the need to amend the agreement to extend the time for pavment. and the parties agree to extend the time for paYment to no later than the first 30 davs of the immediatelv following fiscal year. " 9. Paragraph 8C of the Companion Agreement is hereby modified by adding the following additional provision: "Exhibit "C" is herebv deleted in its entiretv and substituted therefore Exhibits "5" (lake). CDC/Developer has elected not to dedicate or convey less than a thirty-five (35) foot strip and therefore anv and all references to the CDC/Developer Portion are deleted in the entirety. " 10. Paragraph 8 of the Companion Agreement is amended by adding the following additional Paragraph 8(E): "E. CDC/Developer shall dedicate and convey at no cost to the CounlV within 90 davs from the effective dale of this Second Amendment to Companion Agreement a temporary non-exclusive construction easement 30 feet in width as shown in Exhibit "6" for purposes of hauling fill material during County's construction of the Lelv Manor Canal and spreader lake. The temporary construction easement shall terminate and expire on or before December 31. 2011. All fill material removed from the Lelv Manor Canal spreader lake bv the Countv shall be the propertv of CDC/Developer and shall be delivered bv the CounlV to CDC/Developer at a stockpile area to be designated bv CDC/Developer. Within 180 davs of expiration of the temporary construction easement, Countv shall regrade and replant the area of the construction easement to match natural topographv and vegetation. In addition, CDC/Developer shall dedicate and convev at no cost to the County a permanent non-exclusive maintenance road easement 30 feet in width as shown in Exhibit "6" for the purpose of vehicular and pedestrian access for maintenance of the Lelv Manor Canal. CDC/Developer shall be responsible for SFWMD and ACOE permitting for the nermanent non-exclusive maintenance road easement. Said maintenance road easement shall be unpaved and shall be maintained bv the Countv. The County shall be solelv responsible for any loss or liabilitv arising from the County's use of the easement. The maintenance road easement mav be relocated in the reasonable discretion of CDC/Developer. and CDC/Developer shall retain the right to utilize the maintenance road easement area for anv purpose that does not unreasonablv interfere with the intended purpose of the easement. including but not limited to the right to install fences and gates that restrict access to other than the Countv. In the event that the permanent non-exclusive maintenance road easement is relocated bv CDCIDeveloper, CDC/Developer shall be responsible for clearing and stabilization of the new easement area. CDC/Developer shall provide to County access through the interior roadwav network of the Development such that Countv can reach the temporary construction easement and permanent maintenance road easement. Nothing herein shall create any right or easement for the benefit of the general public." 11. Paragraph 12 of the Companion Agreement is hereby modified as follows: "12. All conveyances set forth herein shall be in fee simple to the County by warranty deed except as mav be specificallv provided herein. such as but not limited to the Lelv Canal and Avalon School Outfall Canal as described in Paragraphs 5 and 7, which shall Page 4 of8 Agenda Item No. 16810 April 22, 2008 Page 9 of 53 be bv grant of easement. With respect to such conveyances and easements. the County shall be responsible for paying the costs of any title work and searches, and CDClDeveloper shall be responsible at its costs for promptly removing or curing any liens, encumbrances or deficiencies revealed in any title work." 12. follows: The fourth paragraph on Page 4 of the Contribution Agreement is hereby amended as "WHEREAS, the County finds the plan of dedication in fee. or bv easement as further sDecified herein or in the ComDanion Agreement. as amended. for the Donated or Conveyed Land described in Composite Exhibit "B" is in conformity with contemplated improvements and additions to the transportation network as described in the Collier County Long-Range Transportation Plan and to the storm water management plan of the County; and" 13. Paragraph 20 on Page I 0 of the Contribution Agreement is hereby amended as follows: "20. The duration or availability of impact fee credits or cash payment pursuant to this Contribution Agreement, shall not be for a period in excess of five (5) years from the date the County acknowledges completion of the approved contribution or from the actual date of dedication, but in no event shall the duration exceed seven (7) years, exclusive of any controlling moratoria. from the date of recording in the official records. Notwithstanding the foregoing, the Darties agree that the outside deadline for the duration or availabilitv of impact fee credits. which was initiallv set at October 22.2009. is herebv extended for a period of five (5) vears to October 22, 2014." 14. Paragraph 31 on Page 12 of the Contribution Agreement is hereby amended as follows: "31. CDC/Developer will convey to the County, in fee, any land owned by CDC/Developer required for drainage/retention improvements required for the Realignment Project and the Lely Project based on County approved locations selected by CDClDeveloper and CDClDeveloper shall convey such lands in fee to County on the final plat of CDC/Developer's land containing the Projects unless the County requests conveyance by warranty deed. Notwithstanding the foregoing. anv convevance of land for the Lelv Canal or for the Avalon School Outfall Canal shall be bv granl of easement. as more fullv described in the Companion Agreement. as amended." IS. Except as modified herein, the remaining provisions in the Contribution Agreement, Companion Agreement and First Amendment to Companion Agreement shall remain in full force and effect. 16. If there is any conflict between this Amendment and the Contribution Agreement, the Companion Agreement or the First Amendment to Companion Agreement, the provisions of this Amendment shall prevail. Page 5 of8 Agenda Item No. 16810 April 22, 2008 Page 10 of 53 DONE AND ORDERED this _ day of .2008. BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA DWIGHT E. BROCK, CLERK By: TOM HENNING, CHAIRMAN APPROVED AS TO FORM AND LEGAL SUFFICIENCY SCOTT R. TEACH, MANAGING ASSISTANT COUNTY ATTORNEY Page 6of8 Agenda Item No. 16B10 April 22, 2008 Page 11 of 53 WITNESSES: COLLIER LAND DEVELOPMENT, INC. (Signature) By: , Vice President (Print full name) (Signature) (Print full name) STATE OF FLORIDA COUNTY OF COLLIER The foregoing Agreement was executed before me this _ day of , Vice President of Collier Land Development, Inc. , 2008 by Notary Public - State of Florida Name Certificate No. My Commission Expires WITNESSES: CDC LAND INVESTMENTS, INC. (Signature) By: ,Vice President (Print full name) (Signature) (Print full name) STATE OF FLORIDA COUNTY OF COLLIER The foregoing Agreement was executed before me this _ day of , Vice President of CDC Land Investments, Inc. , 2008 by Notary Public - State of Florida Name Certificate No. My Commission Expires Page 7 of8 Agenda Item No. 16B 1 0 April 22, 2008 Page 12 of 53 Exhibit List for First Amendment to Contribution Agreement and Second Amendment to Companion Agreement Exhibit 1 - Drainage Easement - Lely Canal Exhibit lA - Land encumbered by Existing Drainage Easement Exhibit 1 B - Lely Canal Legal Exhibit 2 - Integra Realty Appraisal Summary Dated Feb. 5,2004 Exhibit 3 - Integra Realty Appraisal Summary Dated July 26, 2007 Exhibit 4 - Avalon School Outfall Sketch Exhibit 5 - Lely Manor Canal and Spreader Lake Exhibit 6 - Lely Manor Temporary Construction Road and Permanent Maintenance Easement Exhibits from pre-existing Agreements that are referenced in Amendment Exhibit B - Companion Agreement . Lely Canal Existing Conditions '1985 Master Plan 'Spreader Lake Exhibit C - Companion Agreement - Lely Manor Canal and Spreader Lake Exhibit F - First Amendment - Proportionate share calculation by RW A Exhibit G - First Amendment - Proposed Project Budget F:\wpdocs\LIT\GLV'Collier Enterpnses\Sabal Bay\SECOND AMENDMENT TO COMPANION AGREEMENT 4-1S-08B.doc Page 80f8 Agenda Item No. 16B10 April 22, 2008 Page 13 of 53 EXHIBIT 1 (TO SECOND AMENDMENT TO COMPANION AGREEMENT) Prepared by and return to: Christopher J. Thornton, Esq. Cheffy Passidomo Wilson & Johnson, LLP 821 Fifth Avenue South, Suite 201 Naples, FL 34102 DEDICATION AND CONVEYANCE OF DRAINAGE EASEMENT AND RELEASE OF ORIGINAL EASEMENT THIS DEDICATION AND CONVEYANCE OF DRAINAGE EASEMENT AND RELEASE OF ORIGINAL EASEMENT ("Easement Agreement") is entered into as of the day of , 2008, by and between COLLIER LAND DEVELOPMENT, INC., A Florida corporation, whose address is 3003 Tamiami Trail North, Naples, Florida 34103, and CDC LAND INVESTMENTS, INC., a Florida corporation, whose address is 3003 Tamiami Trail North, Naples, Florida 34103 (collectively, "Grantor"), and COLLIER COUNTY, a political subdivision of the State of Florida, its successors and assigns, ("Grantee") whose address is 3301 Tamiami Trail East, Naples, Florida 34112. WHEREAS, Grantee was granted a drainage canal easement pursuant to the Drainage Canal Easement recorded December 17,1963 in Official Record Book 157, Page 269 of the Public Records of Collier County, Florida (the "Original Canal Easement"); and WHEREAS, Grantor and Grantee entered into that certain Companion Agreement dated October 14,2003 and recorded in Official Record Book 3424, Page 337 of the Public Records of Collier County, Florida, as amended by an Amendment dated March 27, 2007 and recorded in Official Record Book 4218 Page 1451 in the Public Records of Collier County, Florida and by a Second Amendment dated the _ day of , 2008 and recorded in Official Record Book _ Page _ in the Public Records of Collier County, Florida (collectively, the "Companion Agreement"); and WHEREAS, pursuant to Paragraph 5 of the Companion Agreement, as amended, Grantor is required to dedicate and convey by easement Grantor's right, title and interest in and to the Lely Canal, as constructed in accordance with the Modified Drainage Design; and WHEREAS, Grantor wishes to comply with the provisions of Paragraph 5 of the Companion Agreement, as amended, by granting and conveying the easement described herein; and WHEREAS, in consideration of the easement to be granted by Grantor to Grantee pursuant to this Easement Agreement, Grantee wishes to release and convey to Grantor all of Grantee's interest in the Original Canal easement. Aaenda Item No. 16810 - April 22, 2008 Page 14 of 53 NOW, THEREFORE, for and in consideration of $10.00, as well as other good and valuable considerations, the receipt and sufficiency of which is acknowledged by Grantor and Grantee, the parties hereto agree as follows: A. Grantee hereby quit claims and releases to Grantor all of Grantee's rights, title and interest in and to the Original Canal Easement and the lands encumbered by the original Canal Easement described in the attached Exhibit I A. B. Grantor hereby grants and conveys to Grantee, on a quit claim basis and without warranty of title, a perpetual, non exclusive easement, license, and privilege, to place and/or excavate materials for the purpose of constructing, operating, and maintaining drainage structures and facilities, including but not limited to canals, ditches, swales, earthen berms, rip- rap and retaining wall systems, underground pipes, and various types of water control structures (the "Replacement Canal Easement") within the following identified easement area, consisting of lands located and being in Collier County, Florida: [see Exhibit 1B attached hereto and made a part hereof (the "Replacement Canal Area")], subject to restrictions and reservations ofrecord. RESERVING UNTO GRANTOR, and Grantor's successors and assigns, the right to full use and enjoyment of the Replacement Canal Area for all uses and purposes not inconsistent with the right conveyed to Grantee pursuant to this Easement Agreement, including, but not limited to, Grantor's right to secure the Replacement Canal Area fyom access by the general public by any lawful means as Grantor may deem necessary or desirable, including, but not limited to, the construction of security fencing and gates. IT IS FURTHER AGREED by the parties hereto that: 1. Terms not expressly defined herein shall have the meaning ascribed to them in the Companion Agreement. 2. Nothing contained herein shall be construed as creating an easement or any other right in favor of the general public in or to the Replacement Canal Easement or the Replacement Canal Area or for any recreational use of the Replacement Canal Easement or the Replacement Canal Area. 3. From and after the date of this Easement Agreement, Grantor, or Grantor's successors or assigns, shall have full responsibility for the maintenance of that portion of the Lely Canal located within the Replacement Canal Easement in accordance with all applicable permits, approvals, laws, codes and regulations. 4. In the event Grantor shall fail to maintain the Replacement Canal Easement in compliance with all laws, regulations, permits and approvals applicable to the use of the Replacement Canal Easement for the purpose stated herein, Grantee, after at least thirty (30) days 2 Agenda Item No. 16810 April 22, 2008 Page 15 of 53 prior written notice to Grantor of such deficiency and Grantor's failure to cure such deficiency within thirty (30) days following receipt of Grantee's notice, shall have the right to enter into the easement area to correct such deficiency, and upon completion thereof, Grantor shall reimburse Grantee for Grantee's reasonable cost to correct the deficiency. In the event such deficiency poses an immediate threat to the safety 0 f any person or property, Grantee may take immediate remedial action, without thirty (30) days prior notice to Grantor, but shalL as promptly as possible, give notice of such deficiency to Grantor. In the event the Grantee enters the Replacement Canal Easement for the purpose of maintenance and damages any landscaping, the Grantee's only responsibility with respect to the landscaping shall be to restore the landscaping to the minimum permitted requirements. 5. Nothing in this Easement Agreement shall be deemed or construed by either party or by any third person to create the relationship of principal and agent or of limited or general partners or of joint venturers or of any other association between the parties. 6. It is intended that each of the easements, covenants, conditions, restrictions, rights and obligations set forth herein shall inure to the benefit of the respective parties and their successors, assigns, heirs and personal representatives. This Easement Agreement may be recorded by either party in the public records of Collier County, Florida. 7. The laws of the State of Florida shall govern the interpretation, validity, performance and enforcement of this Easement Agreement. 8. By executing this Easement Agreement, Grantee acknowledges Grantor's complete and full satisfaction of Grantor's requirements pursuant to Paragraph 5 of the Companion Agreement, as amended. [remainder of page intentionally left blank] [signatures and acknowledgments on the following page] , ~ Agenda Item No. 16810 April 22, 2008 Page 16 of 53 IN WITNESS WHEREOF, Grantor has caused these presents to be executed in its name by its duly authorized corporate officer. Signed, Sealed and delivered in the presence of: COLLIER LAND DEVELOPMENT INC., a Florida corporation Witness Print Name: By: Print Name: Title: Witness Print Name: ST ATE OF FLORIDA COUNTY OF COLLIER The foregoing instrument was acknowledged before me this _ day of 2008, by , as Land Developrnent, Inc., a Florida corporation. produced driver's license no. of Collier He/She is personally known to me, or [ ] has as identification. SEAL NOTARY PUBLIC Printed Name Commission Expires: [signatures and acknowledgments continue on following page] 4 Witness Print Name: Witness Print Name: STATE OF FLORIDA COUNTY OF COLLIER Agenda Item No. 16810 April 22, 2008 Page 17 of 53 CDC LAND INVESTMENTS, INC., f/kla Collier Development Corporation, a Florida corporation By: Print Name: Title: The foregoing instrument was acknowledged before me this _ day of 20008, by , as of CDC Land Investments, Inc., a Florida corporation. He/She is personally known to me, or [ ] has produced driver's license no. as identification. SEAL NOTARY PUBLIC Printed Name Commission Expires: 5 ATTEST: By: Approved as to form and legal sufficiency: Print Name: County Attorney Agenda Item No. 16810 April 22, 2008 Page 18 of 53 COLLIER COUNTY FLORIDA, a political subdivision of the State of Florida By: Print Name: Title: F:\wpdocs\LIT\GL V\Collier Entcrprises\Sabal Bay\Drainage Easement 4-2-08.doc j \.... 6 I'. ~, ., \ ,. " , :.l ;1 , . ., '".t c. . ~..;, '. .... ~ 'Mrl'l"im'i.' IOO~ '.cvLI.,r.}.t"h"'l .~;l,lllltCt. . . ~11 . 9 N6 ~H'G! .a.....tii:61Grr . C:LUIC of 1},1,,~)rcQUJl1' THIS :90Q4.6 ""AIN~G. OAl<lAL 1'It.SXM~M ~Mo7 iA':f269 II'Il)tNTUIl:. ,..d~ till. 2nd dGyol D.....b..." " , .' 1"~. ~n OOL'lJ1lR DEVELOPMENT oonP01ll\T~, . CCTJl"'~tl~ . t , ," ....104"'1 II>I'!-o< tho \llw. otlb,IiUlI. cf Florid. , 'ono bMn\l,I~ ptllloll"'l , . . ~~ 01 ~ol,'''..t 110 Tonil.omJ :!'ran, lI.plo., '1...140, I'OT\1' cllb.. , il:tB. ""tt, And cot.LJiR oOI1m:Y.. 0 PllUllOlli ""bellvIOIO. or lho ~lal. or ne.JcI.; lusvJ"l!'JI. .'''.f' "",",....on\ 01 N.plllD. Wbo.~ PO(tlQffio.. . a~GiS'la .N6pJCS., oc!jtmY al COUi~ end S~te.Q/f:l,arJdllj pOny oll!1q . .. , ~~l:onl! AArt. ;f7~iV>r; wrr'NBSIi J:T H. Th.\ i!Hi POllJi .(iho f...1 ""rl. lor 004 . ~n COtlt;;1Mr!l'tJ.Qn ~t 61. 00 ~Dc1 otht;!f" vlu...ble C0nejdoroU9m;: to 1; in:' ".C .1 ~d pald by ll.o..Porty 01 the ...~on~ part. re""Jp, of wbloh j..~r.by ,DeJc~ledf1~' blUl ~J'ltAd uPto me party Dr tho s&ootid part, 1ti ~. ..~ .,~~siors 1n gov~nmar..t, lIn ctllloJllQnt &nU t1gbt-Ql~llY i.cr 1hB '.Pl,It~.fI'~~ of c.lcerpIQ. ,o~Qt1.JJV I ~o~~lr}tCUnq an4 m.al.OttllltJS19 DO, ,-" ovtfitll and d.ra1n&~ citML \tPOJL.cUt~ throlJQh the IoUowlng deKr~ .. ' .,,' ~ $tate of .nq,t1~, lQ-w1t~ ,.,..; .. .~".t' ., ~r :~~ . ""*~;4 ,.f<'-.;;;y-coP r'" . ~l--" , ..:~'," , paroel of ~d, s1roatm, lying and being ip the OOUDty aJ Collier tl~ . .. ' 1\ ,,~o root t;tt'n) of 10M J)'il'lg 60 fee~ oDen s-fdo of 111. {QUowinq d=c;d"',~ (:enter Unc:' " c: ,~ aQmrnenc!~ at t1'\rJ N~E. eornM <<#:~~8';~n ,341 ~ow'?"b\P 50 South, a.n~o i.a Ea.;i:tif!;li"S BS"4Z'l!i" w .1on~.tb.lJcrth line ol..id Soction 24. 139..5 !bGl to It Boat SpSke 10 '1'homasson Qocd. whJc1I ~ a.l~o on $e. '$Q\tthwestetly R.l9bt. of WIY Uno of the t'.amtiil1ni trail (UtS, 41); tba.n~e $ 3:~o 03' 31"1: .Iono EO.t<l SOll!bwo"'11'IV Il~h. of W~y JIM 2185. Z4. foet to ~e ollI\ter ot WulJ:.er Csnnl boing THE POINT OF BEGINNlItG I", ..ld o.~r 1m. Q/!';;.__II tl~nc:e 540. S3'Z9" W 18$3. a3 wet; tbemC& S 4Z"&7'29" W 3UI..Q ro., to.. )!ClInt on... Wool. lln~ of SectioP 19 tnd. 0[ cent~ UnCI, whlCh pQi4t . is A 2-2'" 37 feet S OQo34'31" E; from thla We.st 1/.., o~r of Section 1.9 End T!e. Conmlirlni'S ~ 2.~ ' Awes mare Qt lefts. . ' 'IN wtTN~$S WHERCQf .~~ t;q.~ party Qf th~ finst Pm ~. " . " (~ ~ ".j. ~::~;tr:~,.::; ';'.;" ","i .' ".. ... r-' ..-...... ..~:'A.:.,..I ~ Agendal.~~" Page 19 of 53 .I , '. J 1 :J. '" ." 'i J :~ ,r ~ .. f l' . 1.. f ~: ,. {~f: .~"~..~~ ;.::- 'f "fi; " -. .- , ,.- ,1'CI \ n; ,>~ ,'. '.. .' .~-' ,'" ;........~. ~ , " '.I.(!,,-~~{;.'t.r/'" P' I.....,} '1. r. GCI!'~t~n:t~.:~.C'~tnr)'. ~ ~ :-- ~::. ;.n ~);3'~ ( *1,'\l.;;.";<:" ,~, .{,' ".lA,,,"; '/ ,i,~ '- >>'; , '!~;-'i~:;:~:.~:',' .~ _ / ~i:a~7 ,;., 2'tU - '. .'" " . ba' ~DUI~d *rc"(J ptos~nt~ tCl tw ,?Cu.filutCKl1n ~l.' Mmo,.~"d 1t(l ~arporD;G . :~NJ ~ bo hr:Ir~llnICl amx,Sd. by llB ~oj;lelr (lm~lir& zm~~to 4\.11y au,'tbprJ;!ed. tM day and YQ~n'.,f!ral ohove 'wr,SUtm, ., , CounJ!. DMLOPM~~ COIlPOAA1lON "L - C!rJftD:n h. SQrfon, VJac: Pr.oJdant ~ SJqno<l. IfWCd ond cle'uvorad J~ tlw p..NIsam:o of; , ...-: " STATll or Pl.OJUPA ) ) ) .- , aotll41Y 07 COLLU:R. . \ , '" 1. HtRElI'X' OE.{lT"tP'Y tnlltQntht;.clo.y, ~Eolt'mQ, arl Plficer ow., aU\hOJ1zeU 11'1 the B18~e and county 21iDt~~e.1d '0 t&~e: Bot::n.Qw-ledgD1,mtt;;. PWfOffBl1y'app~d lll'i'Illlil" A. 1f.~lTen IIJOO J. J. . ' 'Ci.9fJ!'I!~\l, wEl-U ~n.1:Q me to tta: ',n,1; VSoe .PredJ~e.Dt nOO BearsWI"Y "'G"""\~~Y ol C<>l!!~r 1l..o10PmOllI Do;por'lI~n. Piutr o! tloo1lr.1t pan in tl1~ rQl'~IlQJ;l'l9' Drainage! ~i ;&aS8m8nt, anlJ ~h"t tlls.y JPrve.ralI)1 . ackn(JwltK1l3'ed execuUl:t9 the SflJ'OG in 1bf.\.prlilli~oP~\6! tWO 'su!i.scr1b-lng '-' . ',:~: :"!~~~?~~.?!'::' , Wltne.l'" !~<!lY ..~ volunt.rlIy .ndof'aUI"",i~'d"Jy"e"ed I. tll... l>y anil! ~potii't!'3n and tAilt the ~Qa.l allUred t)'i'ta.to 11 tnQ true .r;;:cr?<<MC. , , "- .~~~1 m $~19 ~wporat1Dn. 'W'JT)q~GS my llrlUl!S aDd oftlel~l seal 5n the ..,.....:"I~..,..:.,~ ," 'C'O;UR.l:.i.(;;,.nd Sti'.!te a!ore-se1d thjf 1~ (hy of .oecem.ber ;f.=.........~...'. _,. "':.~,,'l,,' ; '~'9~'3'" -' " '. ; "J. ~;;~~l/\.~'J -.J. '.. ......,j , . -yI bJ. /X-l,.t.c H..' ;;;" Lt"t,P'1:.~.:~ ,~pu~St;.TI"rA'Ilf"~.t11H'W:' ~~~L1o.1~ ft!f"YJ/"'I'ItrI.Wl~4t7'~&'o'.~,,~, , .. ~ .. -, .- ~_...-"" I.r.......; ~">....>a.... . "j:;9W"'IIIC~"'>,ll"'W'" llIUGQU f. 1KOT1' '!'~~f~~'r' '., :& ~!.",..~ .. '"r_-:-' ~ ,~;. -'~-.~-"""'" Agenda Item No. 16B 1 0 April 22, 2008 Page 20 of 53 , , . , .~ 1 l , , , j I , J I ) " . ~' 1 EJHIIDIl A TRACT OR PARCEL OF LAND SITUATED IN THE STATE OF FLORIDA. COUNTY OF COLLIER. LYING IN SECTION 19, TOWNSHIP 50 SOUTH, RANGE 26 EAST, AND SECTIONS 24 AND 25. TOWNSHIP 50 SOUTH. RANGE 25 EAST AND BEING FURTHER BOUNDED AND DESCRIBED AS FOLLDWS: COMMENCING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 50 SOUTH, RANGE 26 EAST; THENCE N,00013'03"W., ALONG THE WEST LINE OF SAID SECTION 19, FOR 2,222.38 FEET TD THE PDINT OF BEGINNING OF THE HEREIN OESCRIBEO PARCEL; THENCE N.71"'22'59"E., FOR 109.33 FEET TOA POINT OF CURVATURE; THENCE NORTHEASTERLY 531.75 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 800.00 FEET THROUGH A CENTRAL ANGLE OF 38005'01~ AND BEING SUBTENOED BY A CHORO WHICH BEARS N.52020'29'"E. FOR 522.01 FEET; THENCE N.33"'7'59"E., FOR 167.67 FEET TO A POINT OF CURVATURE; THENCE NORTHEASTERLY 291.56 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 800.00 FEET THROUGH A CENTRAL ANGLE OF 20052'58" AND BEING SUB TENDED BY A CHORD WHICH BEARS N.43044'2B"E. FOR 289,97 FEET TO A POINT OF REVERSE CURVATURE; THENCE NORTHEASTERLY 205.48 FEET ALONG THE ARC OF A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF 419,65 FEET THROUGH A CENTRAL ANGLE OF 28003'17" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.40~09'18"E. FOR 203,43 FEET; THENCE N.26~07'39"E., FOR 196.28 FEETTO A POINT OF CURVATURE; THENCE NORTHEASTERLY 60.32 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 230.97 FEET THROUGH A CENTRAL ANGLE OF 14057'51" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.33"36'35"E. FOR 60 15 FEET; THENCE N.4100S'30"E.. FOR 384.98 FEETTO A POINT ON THE WESTERLY R1GHT OF WAY LINE OF TAMIAMI TRAIL (US HWY. 41, STATE ROAD 90); THENCE N.39003'52"W., ALONG SAID WESTERLY LINE, FOR 238.51 FEET; THENCE S.41005'30"W., FOR 425.75 FEET TO A POINT OF CURVATURE; THENCE SOUTHWESTERLY 121.70 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE lEFT HAVING A RADiUS OF 465.97 FEET THROUGH A CENTRAL ANGLE OF 14057'51" AND BEING SUBTENDED BY A CHORD WHICH BEARS S,33D36'34"VV. FOR 121.35 FEET; THENCE S.26007'39"W.. FOR 19EL28 FEET TO A POINT OF CURVATURE; THENCE SOUTHWESTERLY 90.41 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 184.65 FEET THROUGH A CENTRAL ANGLE OF 28"03'17" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.40D09'18'W. FOR a9.S1 FEET TOA POINT OF REVERSE CURVATURE; THENCE SOUTHWESTERL Y 377.2:~ FEET ALONG THE ARC OF A REVERSE CURVE TO THE lEFT HAViNG A RADIUS OF 1,035.00 FEET iHROUGH A CENTRAL ANGLE OF 20052'SBM AND BEING SUBTENDEO BY A CHORD WHICH BEARS S.43044'27'W. FOR 375.14 FEET; THENCE S.33017'59"W., FOR 167.67 FEET TO A POINT OF CURVATURE; THENCE SOUTHWESTERLY 375.55 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 565.00 FEET THROUGH A CENTRAL ANGLE OF 38005'01" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.52020'29'W. FOR 366.67 FEET; THENCE S.71022'59"W., FOR 139.33 FEET TO A POINT ON A CURVE; THENCE SOUTHWESTERLY 956.70 FEET ALONG THE ARC OF A NON- TANGENTIAL CURVE TO THE lEFT HAVING A RADIUS OF 910.00 FEET THROUGH A CENTRAL ANGLE OF 60b14'10'. AND BEING SUBTENDED BY A CHORD WHICH BEARS S.41~18'49"W. FOR 913.25 FEET TO A POINT ON A CURVE; THENCE SOUTHWESTERLY 446.64 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE RIGHT HAVING A RAD!US OF 918.22 FEET THROUGH A CENTRAL ANGLE Page l of14 R:1200S\050036.QO,02 Sab~lll~)'.l.el)' M~il1 ('~n~l\OOO3 E.'CHlIlioll l'ermil AppliClllkm I'fcr\(~n~l ~cce;1 umlSlExhibil A_due Agenda ~hit6l1-<B Apn122, 2008 Page 21 of 53 OF 27052'12" AND BEING SUBTENDED BY ACHORD WHICH BEARS S.38036"O''W, FOR 442.25 FEET TO A POINT ON A CURVE: THENCE SOUTHWESTERLY 592.64 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 1,288,53 FEET THROUGH A Ct::NTRAL ANGLE OF 26021'06" AND BEING SUBTENDED BY A CHORD WHICH BEARS S,28048'66"W, FOR 587.43 FEET TO A POiNT ON A CURVE: THENCE SOUTHWESTERLY 395.72 FEET ALONG THE ARC OF A NON.TANGENTlAl CURVE TO THE RIGHT HAVING A RADIUS OF 1,052.79 FEET THROUGH A CENTRAL ANGLE OF 21 032'1 0" AND BEING SUBTENDED BY A CHORD WHJCH BEARS 8.40.05'54'W. FOR 393,39 rEEl TO A POINT ON ACURVE; THENCE SOUTHWESTERLY 437.40 FEET ALONG THE ARC OF A NON.TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 727.49 fEF.T THROUGH A CENTRAL ANGLE OF 311026'57" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.28"31'06"W, FOR 430.84 FEET TO A POINT ON A CURVE; THENCE SOUTHERLY 89 60 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 190.59 FEET THROUGH A CENTRAL ANGLE OF 26056'13" AND BEING SUBTENOED BY A CHORD WHICH BEARS S,20044'45''VV. FOR 8B.78 FEET; THENCE $,3S"58'19"W., FOR 187.56 FEET TO A POINT OF CURVATURE; THENCE SOUTHWESTERLY 229.19 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A f~ADIUS OF 1,035,00 FEeT THHOUGH A CENTRAL ANGLE OF 12041'16" AND BEING SUBTENDED BY A CHORD WHICH BEARS S7.9031'4't'W. FOR 228.73 FEET TO A POINT OF REVERSE CURVATURE; THENCE SOUTHWESTERL Y 157.?8 FEeT ALONG THE ARC OF A REVERSE CURVE TO THE RIGHT HAVING A RADIUS OF 800,00 FEET THROUGH A CENTRAL ANGLE OF 11015'52" AND BEING SUBTENDED BY A CHORD WHICh' BEARS S.28"54'59'W, FOR 157.03 FEET TO A POINT OF REVERSE CURVATURE; THENCE SOUTK\NESTERL Y 404.55 FEET ALONG THE ARC OF A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF 1,035,00 FEET THROUGH A CENTRAL ANGLE OF 22"23'42~ AND BEING SU8TENDED BY A CHORD WHICH BEARS 8.23"21'01l"W. FOR 401 .98 FEET TO A POINT OF REVERSE CURVATURE; THENCE SOUTHERLY 98.99 FEET ALONG THE ARC OF A REVERSE CuRVE TO THE qlGHT HAVING A RAtJIUS OF 793,72 FEET THROUGH A CENTRAL ANGLE OF 07'08'4~" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.i5"43'35'W. FOR 96.92 FE:er~ THENCE S.19~17'57''VV., FOR 15763 FEET TO A POINT OF CURVATUr~.E: THENCE SOUTHWESTERLY 181.70 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 800.00 FEET THROUGH A CENTRAL ANGLE or 13"00'48" ANO BEING SUBTENOED BY A CHORD WHICH BEARS S25"48'2'I"W. FOR 161.31 FEET TO A POINT OF REVERSE CURVATURE; THENCE SOUTHWESTERLY 98.811 FEET ALONG T!-IE ARC OF.I>, REVERSE CURVE TO TI~E LEFT HAVING A RADIUS OF BOO.OO FEET THROUGH A CENTRJ>.L ANGLE OF 07"04'45" ANQ BEING SU6TENDED BY A CHORD WHICH BE.ARS S.26046'22"W. FOR 98.78 FEET TO A POINT OF REVERSE CURVATUR~; THENCE SOUTH\,VESTERL Y 223.75 FEET ALONG THE ARC OF A REVERSE CURVE TO THE RIGHT HAVING A RADIUS OF 800.00 FEET THROUGH A CENTRAL ANGLE OF 16001'29" AND BEING SU8TENDEO BY A CHORD WHICH BEARS S.33"14'44"W. FOR 223.02 FEET TO A POINT ON A CURVE; THENCE SOUTHWESTERL Y 5907 FEET ALONG THE ARC OF A NON-TANGEN1"IAL CURVE TO THE LEFT HAVING A RADIUS OF 132.84 FEET lHROUGH A CENTRAL ANGLE OF 25028'4r AND BEING SUBTENDED BY ^ CHORD WHICH BEARS S.27"C2'!)4"VV. FOR 58.59 FEET TO A POINT ON A CURVE; THENCE SOUTHWESTERLY 145.96 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 125.51 FEET THROUGH A CENTRAL ANGLE OF 66037'49" AND BEING SUBTENDED BY A CHORD WHiCH BEARS S.58053'26"W. FOR 137.87 FEET TO A POINT ON A CURV!;; Page2of14 1~:\200~,~~O(lJ~,nooz Sll-b~] lhy I.d~' Main Cal1tl\OlJ03 E>.cKvalion hm'ltl i\pplit~\illn )'rCj)\ClU"ll>Cee~s e~ITlu.\bhihil ^.do~ Agenda Item No. 16B 1 0 April 22, 2008 Page 22 of 53 THENCE SOUTHWESTERLY 201.87 FEET ALONG THE ARC OF A NON.TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 121.56 FEET THROUGH A CENTRAL ANGLE OF 95-09'04" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.47~23'33"W. fOR 179.46 FEET TO A POINT ON A CURVE; THENCE; SOUTHWESTERLY 164.06 FEET ALONG THE ARC OF A NON.TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 90.47 FEET THROUGH A CENTRAL ANGLE Of 103-54'40" AND BEING SUBTENDED BY ACHORD WHICH BEARS S.51D01'45"W. FOR 142.50 FEET TO A POINT OF REVERSE CURVATURE; THENCE WESTERLY 144.17 FEET ALONG THE ARC OF A REVERSE CURVE TO lHE LEFT HAVING A RADIUS OF 157.00 FEET THROUGH A CENTRAL ANGLE OF 52~36'43" AND BEING SUBTENDED BY A CHOROWHrCH BEARS S.76.40'44'W. FOR 139.15 FEET; THENCE S.50"22'23'''W., FOR 179.63 FEET TO A POINT OF CURVATURE; THENCE WESTERLY 62.61 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 93.00 FEET THROUGH A CENTRAL ANGLE OF 38~34'20" AND BEING SU8TENOED BY A CHORD WHICH BEARS 8.69.39'33"l,I\.I. r-OR 61.43 FEET; THENCE $.B8"S6'43'W., FOR 14.45 FEET TO A POINT Of CURVATURE; THEN.CE WESTERLY 33.09 FEET ALONG THe ARC OF A TANGENTIAL CURVE TO HIE RIGHT HAVING A RADIUS OF 104.50 FEET THROUGH A CENTRAL ANGLE OF 18"08'36" AND B!:ING SUBTENDED BY A CHORD WHICH BEARS N.81~5a'59"w. FOR 32.95 FEET: THENCE N.72054'41"W., FOR 63,21 FEET TO A POINT OF CURVATURE; THENCE WE:STERL Y 61.05 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 157.00 FEET THROLlGH A CENTRAL ANGLE OF 22"16'40" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.84~03'01'W, FOR 60.65 FEET: THENCe S.G4.4,g.39"W.. FOR 8.76 FEET: THENCE S.85~14'31'W., FOR 44.15 FEn: THENCE S.90~OO'OOil\l., FOR 51.65 FEET; THENCE N.84017'43~W., FOR 37.33 FEET; THENCE N.75058'21~\N., FOR 26.24 FEET TO A POINT OF CURVATURE.; THENCE NORTHWESTERLY 10.26 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A MDIUS OF 25.00 FEET THROUGH A CENTRAL ANGLE OF 23.31'18" AND BEING SUBTENDED BY A CI-iORD WHICH BEARS N.64"12'42'VV. FOR 10.19 FEET; THENCE N.52027'03"W" FOR 53.90 FEET; THENCE N.56"11'lS"W., FOR 47.42 FEET TO A POINT ON A CURVE; THENCE NORTHWESTERLY 12.56 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 50.00 FEET THROUGH A CENTRAL ANGLE OF 14"23'50" AND BE!NG SUBTENDED BY A CHORD WHICH BEARS N.63~31'27"W. FOR 12.53 FEET; THeNCE N.70'43'2Z"W., FOR 56.31 FEET; THENCE N.71"22'3B"W., FOR 52.51 FEET; THENCE N.71"34'36"W., j=OR 33.10 ft:.ET TO A POINT ON A CURVE; THENCE WESTERLY 3.55 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 45.00 FEET THROUGH A CENTRAL ANGLE OF 04"31'23" AND BEING SUBTEND[;O BY A CHORD 'NH1CH BEARS N,73450'21"W, FOR 3.5$ FEET; THENCE N.76D06'03'W., FOR 2.60 FEET TO A POINT OF CURVATURE; THENCE WESTERLY 7.18 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEfT HAVING A RADIUS OF 45.00 FEET THROUGH A CENTRAL ANGLE OF Og.08'14" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.80"40'10'W. FOR 7.17 FEET; THENCE N.8S"14'17"W., FOR 19.11 FEET TO A POINT OF CURVATURE; THENCE WESTERLY 1.55 FEET ALONG THE ARC OF A T ANGENT1AL CURVE TO THE LEFT HAVING A RADIUS OF 45,00 FEET THROUGH A GENiRALANGlE OF 01058'37" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.86~13'36.'W. FOR 1.55 FEET. THENCE N.87""12'54"W., FOR 27.52 FEET TO A POINT OF CURVATURE; THENCE WESTERLY 2.19 FEET ALONG THE ARC OF A TANGENTIAL CURVE;O THE LEFT HAVING A RADIUS Of 45.00 FEET THROUGH A CENTRAL ANGLE OF 02.47'06" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.ea-36'27"W. FOR 2.19 FEET; THENCE S.90000'OO"W.. FOR 20.98 FEET TO A POINT OF CURVATURE; Page 3 of14 R:\20()5\0500J{,.OO.O~ Sehel Bl<)" l.c1y M~in C;m~I\()fllO li~c~"alion Perm;' ^ppliClllio.1 l'~rl(:.n.1 .on'" Cl:nm\!';~bibjl A.,J,,~ Agenda Item No. 16810 April 22, 2008 Page 23 of 53 THENCE WESTERLY 15.38 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 52,00 FEET THROUGH A CENTRAL ANGLE OF 16-56'43" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.e1~31'3~tW. FOR 15.32 FEET; THENCE S.73~03'17"\N.. FOR 92.92 FEET TO A POINi OF CURVATURE; THENCE SOUTHWESTERLY 31.20 FEET ALONG THE ARC 01= A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 52.00 FEET THROUGH A CENTRAL ANGLE OF 34022'30" AND BEING SUB TENDED BY A CHORD WHICH BEARS S.55052'02"W. FOR 30.73 FEET; THENCE S.38040'47"W., FOR 22.43 FEET TO A POINT OF CURVATURE: THENCE SOUTHWESTERLY 25.46 FEET ALONG THE ARC OF A TANGENTIAL CURVt:: TO THE LEFT HAVING A RADIUS OF 52.00 FEET THROUGH A CENTRAL ANGLE OF 2$003'21" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.24-39'06''lN. FOR 25.21 FEET: THENCE S.10037'26''W.. FOR 36.57 FEET TO A POINT ON A CURVE; THENCE SOUTH=:Rl Y 34.49 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE 10 THE LEFT HAVING A RADIUS OF 61.96 FEET THROUGH A CENTRAl ANGLt OF 31~53'37" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.04025'39"VV. FOR 34_05 FEET; THENCE S.24~23'04"E., FOR 22.11 FEE.T TO A POINT OF CURVATUR::.; THENCE SOUTHEASiERl Y 21.22 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE lEfT HAVING A RADIUS OF 59.00 FEET 'THROUGH A CENTRAL ANGLE OF 20030'32" AND BEING SlJBTENDED BY A CHORD WHICH BEARS S,34041'20"E. FOR 21.11 FEET TO A POINT ON ^ CURVE; tHENCE SOUTHEASTERLY 45.43 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 95.87 FEET THROUGH A CENTRAL ANGLE OF 2r09'06" AND BEING SUBTENDEO By A CHORD WHICH BEARS 8.60033'12"E. FOR 45.01 FEET; THENCE 8.66032'4"1.[:;., FOR 40_37 FEET: lHENCE S.49"IZ'42"E., FOR 165~ FEET; THENCE 8.33042'53"E., FOR 11 91 FEET TO A POINT ON A CURVE; THENCE SOUTHEASlERL Y 42.53 FEET ALONG THE ARC OF A NON.TANG:::NTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 96.81 FEET THROUGH A CENTRAL ANGLE OF 25~10'11" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.26~12'02"E. FOR42,19 FEET; THENCE S.20~33'39"W., FOR 16.97 FEET; THENCE SAO"25'37"W., FOR 18.42 fEET TO A POINT OF CURVATURE; THENCE SOUTHERLY 83.32 FEET ALONG THE ARC OF A. TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 49,00 FEET THROUGH A CENTRAL ANGLE OF 9r25'29~ AND BEING SUBTENDED BY A CHOI~D WHICH BEARS S.Oa~17'08"E. FOR 73,64 FEET; THENCE S.56"S':3'SZ"E., FOR 32,64 FEET; THENCE S.69013'OO"E., FOR 32,43 FEET. THENCE ST,"38'36"E., FOR 14.68 FEET; THENCE Sn"21'32"E., fOR l8,(l1 FEET; THENCE S,B3~43'39"E., FOR 20,11 FEET; THENCE N.87'44'37'.E., FOR 25.24 rEET: TKF.NCE N.730S8'34"E., FOR 22.23 FEET: THENCE N.62~38'46''E., FOR 29.12 FEET; THENCE N.59027'25"E., fOR 20,31 FEET; ThENCE N.72022'27"E., FOR 11.19 FEET; THENCE N.87~02'43'E., FOR 14.39 FEET; THENCE S,a8032'44"E.. rOR 10_54 FEET; THENCE S48-11'OO"E., FOR 104.60 FEET TO A. r'OINT OF CURVATURE; THENCE SOUTHEASTERLY 28,41 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 59.00 FEET THROUGH A CENTRAL ANGLE OF 2r35'19" AND BEING SUBTENDED BY A CHORD WHICH BEARS S_61~58'~0"E. FOR 28.14 FEET; THENCE S,7S'46'19''E.. FOR 47.78 FEET TOA POINT OF CURVATURE; THENCE EASTERLY 23.56 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 59.00 FEET THROUGH A CENTRAL ANGLE OF 22052'55" AND BEING SUBTENDEO BY A CHORD WHICH BEARS S.B7"12'47"E FOR 23.41 FEET; Page 4 of]4 R:l:lOl.lsmOOJ6_00.02 S"t>~l Ba) .l.c1y M.inC.,,~I'\W03 E~ClI"Plio" hrmil ^pptical;Ol: P(~I'\~.~n~1 PCtei~ cSl]lI~\'.:xllibll^_ll"" Agenda Item No. 16B 1 0 April 22, 2008 Page 24 of 53 THENCE N.81020'45"E., FOR 74,27 F'EET; THENCE S.83032'3rE., FOR 28.55 FEET; THENCE S.32007'59~E.. FOR 29.62 FEET; THENCE S.3soS8'24'E., FOR 19.66 FEET; THENCE S.11"23'34.E., FOR 30.83 FEET; THENCE S.2105$'54"E., FOR 24.00 FEET; THENCE S.33"45'47"E., F"OR 25.23 FEET; THENCE S.31010'36~E., FOR 18.82 FEET; THENCE S.2S"ZO'01"E.. FOR 16.86 FEET; THENCE s.zr02'OO"E., FOR 16,82 FEET; THENCE S.25.07'59"E., FOR 37.09 FEET: THENCE S.ZooZ2'47"E., FOR 42.72 FEET: THENCE S.Zg013'43"E., FOR 29.~6 FEET; THENCE S.02~13'26"E., rOR 22,37 FEcT; THENCE S,02"44'31"E., FOR 11.95 FEET; THENCE S.220S4'44'W., FOR 6.59 FEET TO A POINT ON A CURVE; THENCE SCUTliERL Y 25.98 FEET ALONG THE ARC OF A NON.TANGENTlAL CURVE TO THE LEFT HAVING A RADlUS OF 59.00 FEET THROUGH A CENTRAL ANGLE OF 25013'52" AND 6E1NG SUBTENDED BY A CHORD WHICH BEARS S.~B959'Oi'W. FOR 25.77 FE:ET TO A POINT ON A CURVE: THENCE SOUTHWESTERLY 25.27 FEET ALONG THE ARC OF A NON.TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 59.00 FEET THROUGH A CENTRAL ANGLE OF 24"32'22" AND BE!NG SUBTENOED BY A CHORD WHICH BEARS S.29034'28'W. FOR 25.08 FEET; THENCE S.17018'17"W., FOR 8.56 FEET TO A POINT OF CURVATURE; THENCE SOUTHERLY 23.90 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RAD!US OF 59.00 FEET THROUGH A CENTRAL ANGLE OF 23"12'41" AND BEING SU8TENDED BY A CHORD WHICH BEARS S.Os041'5TW. FOR 23.74 FEET; THENCE 8,27'009'48'1'0.,/., FOR 41.04 FEET; THENCE S.03016'5S"E., FOR 11.42 FEET; THENCE S.i70S7'31.W., FOR 22.83 FEET; THENCE S.26044'2S"W., FOR 24.66 FEET TO A POINT OF CURVATURE; THENCE SOUTHERLY 73.83 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 49.00 FEET THROUGH A CENTRAL ANGLE OF B6~19'50" AND BEING SUBTENDED BY A CHORD WHICH BEARS S16~25'30"E. FOR 67.04 FEET; THI::NCE S.59~35'25.E., FOR 17.46 FEET; THENCE S.66"40'5GQE., FOR 20.70 FEET TO A POINT ON A CURVE; THENCE EASTERLY 33.32 FEET ALONG HIE ARC OF A NONw TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 52.00 FEET THROUGH A CENTRAL ANGLE OF 36042'38" AND BEING SUBTENDED BY A CHORD WHICH BEARS S.86034'02"E. POR 32.75 FEET; THENCE N.75'Q4'40"E" FOR 33.64 FEET TO A POINT OF CURVATURE; THENCE EASTERLY 8,43 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT KAVING A RADIUS OF 52,00 FEET THROUGH A CENTRAL ANGLE: OF 09~17'24" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.70025'58"E. FOR 8.42 FEET: THENCE N.GS47'15"E., FOR 54.~B FEET TO A POINT OF CURVATURE; THENCE NORTHEASTERL Y 38.09 FEET ALONG THE ARC OF A 'fANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 52.00 FEET THROUGH A CENTRAL ANGLE OF 4\"51'58" AND BEING SUBTENDED 8Y A CHORD WHICH BEARS N.44~48'16"~. FOR 37.24 FEET; TtiENCr: N,23049'17"E., FOR 104.65 FEET TO A POINT OF CURVATURE; THENCE NORTHERLY 17.91 FEET ALONG THE ARC OF A TANGENTIAl. CURVE TO THE LEFT HAVING A RADIUS OF 52.00 FEE.T THROUGH A CENTRAL ANGLE OF 19"43'57" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.13~57'18"E. FOR ~7.82 FEET; THENCE N.04"05'20"E., FQR 67.76 FEET TO A POINT OF CURVATURE; THENCE NORTHERLY 9.47 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 52.00 FEET THROUGH A CENTRAL ANGLE OF ',O.26'O~1" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.01"07'41"W. FOR 9,-46 FEET; Page 5 of 14 R:IJOO~'ll~003b.OI).r.2 Sw~~l Iluy. Gely M)jf't C~ntllOOO3 E.cnv~\ian l'mllit A'Pr>he~h\\" Pre,,'C~n.' nCCCOlI c~m\~\l,.h,I"1 A,doc Agenda Item No. 16B10 April 22, 2008 Page 25 of 53 THENCE N,QI3'20'43"W.. FOR 81.45 FEET TO A POINT OF CURVATURE; THENCE NORTHERLY 26.55 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 93,00 FEET THROUGH A CENTRAL ANGLE OF 16G21'33" AND BEING SUSTENDED BY A CHORD WHICH BEARS N.01G50'04~E, FOR 26.46 FEET; THENCE "-I.10.00'51"E., FOR 92.38 FEET TO A POINT OF CURVATURE; THENCE NORTHEASTERLY 43.32 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 93.00 FEET THROUGH A CENTRAl ANGLE OF 26~.o11'09" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.23G21 '26"E. FOR 42,92 FEET; THENCE N,36~41'59"E., FOR 139.49 FEET TO A POINT OF CURVATURE; THeNCE EASTERLY 120.06 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 93.00 FEET THROUGH A CENTRAL ANGLE OF 73~57'53" AND BEING SUBTENDED BY A CHORD WHICH BEARS N,n"40'S5"E. FOR 1 11.89 FEET TO A POINT OF REVERSE CURVATURE; THENCE NORTHEASTERLY 315.88 fEET ALONG THE ARC OF A REVERSE CURve TO THE '-EFT :-lAVING A RADIUS OF 152.70 FEET THROUGH A CENTRAL ANGLE Of 118"31'21" A.ND BEING SUBTENDED BY A CHORD WHICH BEARS N.51.24'11"E. FOR262.~9 FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 376.52 FEET ALONG THE ARC OF A NON-TANGENTIAl CURVE TO THE RIGHT HAVING A RADIUS OF 219.05 FEET THROUGH A CENTRAL ANGLE OF gS'Z9'OO" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.43~56'43"E:. FOR 331.85 FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 273.75 FEET ALONG THE ARC OF A NON.TANGENTIAL CURVE TO THE LEFT HAVING A RADiUS OF 167,60 fEET THROUGH A CENTRAL ANGLE OF 93~35'03" AND BEING SUBTENDED BY A CHORD WHiCH BEARS f';.37"26'12"E. FOR 244,32 FEET TO A POINT ON A CURVE; THENC[; NORTHEASTERLY 77.28 FEET ALONG THE ARC OF A NON.TANGENTIAl CURVE TO THE RIGHT HAVING A RADIUS Of 140.99 FEET THROUGH A CENTRAL ANGLE OF 31G24'14" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.24~43'37"E. FOR 76.31 FEET TO A POlf\;T ON A CURVE; THENCE NORTHEASTERLY 170.94 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 1.035,00 FEET THROUGH A CENTRAL ANGLE OF 09~27'46" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.2Do57'52"E. FOR 170.74 FEET TO A POINT OF REVERSE CURVATURE; THENCE NORTHEASTERLY G9.81 FEET ALONG THE ARC OF A REVERSE CURVE TO THE R!GHT HAVING A RADIUS OF 565.00 FEET THROUGH A CENTRAl ANGLE OF Or04'45u AND BEING SUBTENDED BY A CHGRD WHICH BEARS N.2S'46'22"E. FOR 69.76 FEET TO A POINT OF REVERSE CURVATURE; THENCE NORTHEASTERLY 235.07 FEET ALONG THE ARC Of A REVERSE CJRVE TO THE LEFT HAVING A RADIUS OF 1,035.00 FEET THROUGH A CENTRAL ANGLE Of 13.00'48" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.25048'2C"E FOR 234.57 FEET: THENCE N_19G17'57"E.. FOR 157.63 FEET TO A POINT OF CURVATURE; THENCE NORTHERLY 128.29 FEET ALONG THE ARC OF A TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 1,028.72 FEET THROUGH A CENTRAL ANGLE OF 07GOB'44" AND BEING SUBTENDED BY A CHORD WHiCH BeARS N,15~43'35"E FOR 128.21 FEET TO A POINT OF REVERSE CURVATURE; THENCE NORTHEASTEI~L Y 312,09 r:EET ALONG THE ARC OF A REVERSE CURVE TO THE RIGHT HAVING il. RADIUS OF 800.00 FEET THROUGli A CENTRAL ANGLE OF 22"23'42" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.23~21'04"E. FOR 310.71 FEET TO A POINT OF REVERSE CURVATURE; THENCE NORTHEf,STERL Y 203.48 FEET ALONG THE ARC OF A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF '1,035.00 FEET THROUGH A CENTRAL ANGLE OF 11~15'52" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.28~G4'S9"E. FOR 203.16 FEET TO p.., POINT OF HEVERSE CURVATURE: THENCE NORTHEASTERLY 177.15 r:EET ALONG THE ARC OF A R:::VERSE CURVE TO THE RIGKT HAVING A RADIUS OF UQOOD FEET THROUGH A CENTRA.L ANGLE OF 12"011'16" AND BEING SU8TENDED BY A CHORD WHICH BEARS N.2SG37'41"!::. FOR 176.79 FEET; Page 6 of 14 R:\100.W)5rm3(,.OOOl Snb~) 3u}' Lei)' Main CM:l'.QOD3 En~vM;o'll'enll;1 AfY/icxlilln l're::-'i,'DII~l ~~et~' "ml.l.Exhibil ^ &>c Agenda Item No. 16B 1 0 April 22, 2008 Page 26 of 53 THENCE N.3S-58'19"E., FOR 187.56 FEET TO A POINT ON A CURVE; THENCE NORTHERLY 196.69 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAVING A RADIUS OF 424.74 FEET THROUGH A CENTRAL ANGLE OF 26-32'00" AND BEING SUBTENDED BY A CHORD WHICH BEARS N.21<>57'32~.E.. FOR 194.9il FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 281.25 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 492.49 FEET THROUGH A CENTRAL ANGLE OF 32"43'15" AND BEING SUSTENDED BY A CHORD WHICH BEARS N.28-20'20"E. FOR 277.45 FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 503.03 FEET ALONG THE ARC Of A NON-TANGENTIAL CURVE TO THE lEFT HAVING A RADIUS OF 1,287.79 FEET THROUGH A CENTRAL ANGLE OF 22-22'50' AND BEING SlJ6TENDED BY A CHORD WHICH BEARS N.3SO"08'2J"E. FOR 499,84 FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 490.56 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE RIGHT HAVING A RADIUS OF 1.053.53 FEET THROUGH A CENTRAL ANGLE OF 26-40'45" AND BEING SUBTENDED BY A CHORD WHICH B~ARS N.2r3s'56'E. FOR 486.14 FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 570.99 FEET ALONG THE ARC OF A NON-TANGENTIAL CURVE TO THE LEFT HAViNG A RADIUS OF 1.142.0'13 FEET THROUGH A CENTRAL ANGLE OF 28~3a'12" AND BEING SUBTEND!::D BY A CHORD WHICH BEARS N.37"OS'39"E. FOR 565.07 FEET TO A POINT ON A CURVE; THENCE NORTHEASTERLY 731.18 FEET ALONG THE ARC OF A NON-TANGENTIAL CURvE TO THe: RIGHT HAVING A RADIUS OF 6'15.00 FEET THRO~GH A CENTRAL ANGLE OF 62-03'53" AND 'BEING SU6TENDED BY A CHORD WHICH BEARS NAO-24'59"e, FOR 695.96 FEET. THENCE N.71~22'59"E., FOR 30.00 FEETTO THE P01NT OF BEGINNING OF THE PARCEL DESCRIBED HEREIN. CONTAINING 2,276,734 SQUARE FEET OR 52.27 ACRES, MORE OR LESS BEARINGS ARE BASED ON THE SOUTH LINE Of THE SOUTHWEST QUARTER OF SECTION 19, --;OWNSHIP 50 SOUTH, RANGE 26 EA.':;;T, AS HAVING AN ASSUMED BEARING OF N.88G23'16"E. PREPARED BY: RWA INC. FLORIDA CERTIFICATE OF AUTHORIZATION NO. LB 6952 i.:":":~;::'_-S.":o. ~\~,,:=:'" DENNIS A. MILLER PROFESSIONAL SURVEYOR AND MAPPER FLOR1DACERTIFICATE NO. LS [,626 1'1~-()'7 DATE Page 7 of 14 H'\20D~Il)S00}6.00,02 S~b~\ 80y. L('i, Ma", 0...110003 r:~~:IVIlI"M Pwni\ ^ppliCll1l\nl Pl"plC'olIMI .ecess esnlls~~hibll A,doc Agenda Item No. 16B10 April 22, 2008 Page 27 of 53 Aaenda Item No. 16B10 . April 22, 2008 Page 28 of 53 THIS IS NOT A SURVEY SEE SHEET 9 MATCH LINE A '" ~ ::J LINE TABLE BEARING N7,'22'5 "E N33'17'59"E S33'17'5g~W 7 '22'5g"W N71'22'S9"E LENGTH 109.33' 167.67' 167.67' 139,33' 30.00' UNE L1 L' LB L9 C85 1i \ 75 \50 GRAPHIC SCALE 1"",150' ,~.., ~~POlNT OF BEGINNING o. -;;. '?,; \.. \'"'\~ ~. 1'1 :--- POINT OF COMMENCEMENT SW CORNER or see 19 ~ ~ u \ CURVE TABLE CURVE LENGTH -'-HADIUS DELIA CHORt) CHORD BRG. Cl 5.31.75' 800,00' 38'05'01" 522.01' N52'20'29" CD 375.55' 565.00' 36'05'01" 35B.57' S52'20'29"W C9 956.70' 910.00' 6 '1~'lp" 913.25' S41'1B'49"W C7' 731.18' 675.00' 51'OJ'ES 695.96' 1'i40'24'59"E CLIENT' ""7/5 06 ~, "'=150' D\XTA ",C~M CONSULTING CivilEogineering .... '"' ,.... .lL ."""""&_ COLLIER LAND DEVELOPMENT, INC. TITLE' LEL Y CANAL SKETCH OF DESCRIPTION oAA....IIY, GJI< c><rc_w trr. DA~ lS4?CItsof,Snfl Ftlnt.lr-n.FIo<ldil33901 ~r~rk~~~W ~,l~ 50 ";~' :~~t~~R;:050D36,OO,02 ~~~Tnt 8 or 14 ~1~~'I!tR' 0003 EX SK THIS IS NOT A SURVEY Agenda Item No. 16B10 April 22, 2008 Page 29 of 53 CURVE TASLt CURVE LENGTH RADIUS DELTA CHORD CHORD 8RG. C2 291.5B' BOO,QO' 20'5 '58" 269.97' 4T 4' R" c, 205.48' 419.65' 28'03'1;' , 203.43' N40'09',a"E c. 60.32' 230.97' 14'57'5~" 60.15' NJ3"36'3S"E C5 121.70' 4-65.97' 14' T \" 121.3S' 53J'36'35"W C6 90.41' 164,65' '03'17' 89.51' S40'Og'1a"W C7 377.23' 10".00' 2("52'58~ 375.14' S~S44'Z/'W 1Y E r 0 " ,,, GRAPHIC SCALE 1'..150' D\lT^"'C~on CONSULTING CivilEugiJJcx:ring ........... 1 '.L ... Survcyi:J;ls&MIlpping ""T~' 7 5 06 se.<l.t, 1"""150' CLIENT: ____ WESTEfU.Y LINE ..,Y TAMIAMI TRAIL (US HIllY, 41, SR 90) LlNE co L4 L5 L6 L7 LINE TABLE BEARING N25'07'39"C N41'05'3D"E N39"03'S2'W S4'.OS'JD"w S26'07'398W LENGTH 196.28' 384.98' 236.51' 425,75' 196.2B' 1542c..r-!lImor f<<1~,~33901 ~~~~ OIIJ,~'" IJ'I': OJK ~ DAM TITLE: COLLIER LAND DEVELOPMENT, INC. LEL Y CANAL SKETCH OF DESCRIPTION $1', -, ftl;C PROJrcTo50036 00 021 SHr.ET 9 14 fit[ . 19 ~o 26 i'lUMB[R; .. NUlAl1tll, or NUM&R: 0003 EX 51< Aoenda Item No. 16B 1 0 - April 22, 2008 Page 30 of 53 THIS S NOT A SURVEY sa SHEET 8 MATCH UNE B E CURVE TABLE CURVE . LENGTH RADIUS DEL.TA CHORD CHORD aRG. C,O 446.64' 918.22' 2"52'12" 4-42.25' 53 '36'10"W ell 592.64' 1288.5:3' 8'(11'08" 587.43' S2f1'4B'5f)'W C,2 395.72' 1002.79' 21.3:;0'10" 393.39' _S-lO.OS',54"W C7' 503.03' 1287.79' 22'22'50" 499.84' 11139'08'23"[ CO2 490.56' 1053.53' 26'40'45" 486.14' N2735'56"~_ cn 570.99' 1142.43' 26"38'12" 565.07' N 7 5'39"!':: 1f GRAPHIC SCALE 1"- 150' OlXT^"'C~on CONSULTING Civi1~ .&. '-, ,.I.. .... SurveyinsolMapping. 1S41Cll_SliMl Fcnl.lye",Fb<lnll>>ol ~i~12f:~W \ '"' ~ Co " '50 "",. 7/5(.P6 ~CAW 1""'-\50' CLIENT: COLLIER LAND DEVELOPMENT, INC. LEL Y CANAL SKETCH OF DESCRIPTION ~~Etc::0500J6.00.02 ~~~~r:E~; 1 0 Dr 1 4 ~'0ri!lnl: 0003 EX SK c....."Cy. GJK TITLE; ~,l[C"W ll"- AM ,tC;"'" "G(; \9 ::>11 2~ THIS IS NOT A SURVEY CURVE TABLE CURVE LENGTH RADIUS DELTA CHORD CHORD BRG. e13 <4-37.40' 727.49' 34'26'57" 430.84' 528'31'06'"W el< 69.60' 190.59' 26'56'1.3~ 88.78' S20'44'4!'tw e15 229.19' 1035.00' 12'41'16" 228.73' S29'37'41~W e15 H57,28' 600.0Q' 11'15'52" 157.03' 526'54'5 'w e17 404.55' 1035.00' 2 2 '4:7." 401.98' 52.3' 1'04~W e66 312.69' 600.00' 2:2"23'42" 310.71' N23'21'04"r e57 203.48' 1035.00' 11'15'52"' 203.16' N28'S4'59"E e5B 177.15' 80D.QO' 12'41'16" '76.79' N29'3T41"E CBO 196.70' 424.74' 26' 32'00" 194.94' N ,'57'32" C70 281.25' 492.49' 32' 43'1 5" 277.45' N2B'20'20"E 1.INE L10 LB4 LINE TABLE BEARING 535"58" g"W N35"S8'1g"E LENGTH 187.56' 187.56' Yi \ , " '" GRAPHIC SCALE I'.. l~O' ~ " MATC~ uNE 0 SEE SHEET 12 D'XTA !Net:." CONSULTING G"'_ ..&. '-, U.. ... -'>"8" """''''' ~'7/5/06 SOl[: \H=150' CWENT: Agenda Item No. 16B 1 0 April 22, 2008 Page 31 of 53 ~ " " ~ " ~ ~ " g.o.wHlt', TIRE: COLLIER lAND DEVELOPMENT, INC. LEl Y CANAL SKETCH OF DESCRIPTION GJK '~~Carulnftlllll Fvrl~flgfkI.,:mGl ~~2~~ C~tc.tl> a. DAM ~ ';~' R;~, ~~~rr:,050036.00.02 :~~tR. 11 Of 1 4 I ~10~[J(R' 0003 EX 5K Agenda Item No. 16B10 April 22, 2008 Page 32 of 53 THIS IS NOT A SURVEY SEE. SHEET 11 MATCH LINE 0 CUrNE T.6.SLE: CURVe LENGiH RADIUS DElTA CHORD CHORD 8RG. C18 98.99' 793.72' 708'44" 98.92' S1S'43'35"w C19 181.70' 600.00' 1S00'48" 181..31' S S'48'2f'W C2D 98.84' 800.00' 7'04'45" 98.78' 528"46' 't'w C21 223.75' BOO,OO' 16'01'29" 223.02' S3S14'44"W C22 59.0T 132.84' '4'- 58,5S' 7'OZ'54"W C23 145.96' 125.51' 066'37'49" 137.87' S5B'5.3'26"W C24 201.87' 121.56' 9' '04" '79A6' S47'23'3.3"W C25 16il.08' 90.47' 103'54'40u 142.50' S51'Ol'45"W COO 144.17' 157.00' '36'43" 139.15' S76'40'44"W C57 120.06' 93.00' 7 '57'53" 111.89' ~n3'40'55"E C5B .~15.B8' 152.70' 11 '31'21" ~62.49' N51'Z4" 1" C59 376.52' 219.05' 96'29'00" 331.65' N4S56'43"E 860 273.75' 157.60' 5'0 H 244.32' N3/ZG',z"r C51 77.28' 140.99' 31'24"-4" 76.3;' N24'43'3i E CO2 170.94' , 0.15.00' 9"27'46" 170.74' N29'57'52" C63 69,61' 565.00' 704'45" 69.76' N28'46'22"E C64 235.07' 1035.00' 13'00'48" i 230'1.57' N25'4B'20"E C65 128.29' , 028.72' ?OS'44H 128.21' N1S'4j'3S"E ~ " ~" ~ " ::; ~ ~ ~ ~ G UNE 111 LB3 LENGTH 157.53' 157.83' ~ " . [j !i] u 'GRAPHIC SCALE 1."150' rY E 'II \ 0 " '" ,," G l)lXT^lNCc~,. CONSULTrNG Civll~ ..... '-, ,~ .a. """',....&_ CLIENT: '''''Lr' 1"""150' COLLIER LAND DEVELOPMENT, INC. TITLE, LEL Y CANAL SKETCH OF DESCRIPTION Ir..l2C....onSllto1 Ft.rl...,.".F\a11413ll9Oi ~(~~~~~ _'''''oY GJK C"I(CI<[O!lY' DAM st':. I'''', OGJ: 1D 50 '-6 ~~.~C(CR1;0500.36.00,02. ~~~'i:fR: 12 Of 14 ~J'0~6[R: 0003 EX SK OJ. l33 C40 C4 Agenda Item No. 16B 1 0 April 22, 2008 Page 33 of 53 THIS IS NOT A SURVEY \127 l28\ (l26L25 032 l3 j lIjj 23 C36 C3sHC31.c ~4 L2 U2 U2 33 l48 l49 rl41 l4~ l4i<- lJ9 \ , L4 l.6 JL L44 L42 L43 IV E r o 7S 150 GRAPHIC SCALE' '""'150. L20 C3 L151 L17 1.16 " LIB . L" C2B C2 L13 ~m ~!Q iil!\ '" - <'IN L5 C45 53 L81 55 LBO C54 L7' C53 SEE SHEET 14 FOR LINE AND CURVE TABLES DlXT ^ JNC~=.on CONSULTING QvilEngmoc;ring; ........., '.L ..a. """"'""&MOp,",,, l~~Slfee' ForlMytr$,Fkr/lIhS3~ ~~m~~~~ 0>1[ 7 5 06 ~ 1. 100' -~ OJK t><tc..OB'r- CUENT: mlE; COLLIER LAND DEVELOPMENT, INC. LEL Y CANAL SKETCH OF DESCRIPTION '1(~. ';' ~2~ ~~[g050036.00.02 ~~~~l[R~ 13 or 14 ~I~t(lm, 000.3 EX 51< AM Agenda Item No, 16B 10 April 22, 2008 Page 34 of 53 THIS IS NOT A SURVEY LINE TABLE LINE TA8LE LINE BEARING LENGTH LINE er....RING l.ENGTH L12 S . 3"W 179.63' "6 N7Z'22'27"E l1.1S' LD S88'56'43"W 14.40' "9 N8T02'43"E 14,39' L14 N7Z54'41"W 53.21' --rSO 586'3 '4- " 10.54' l1S S84'48'39"w 8.76' [51 548"1'00"( 104.60' LlO S8~t14':S1"W "'4.15' L52 5'48'19"[ 47.78' l.17 59 'oo'aO"w 57.65' [53 NB1'2o'45"E 74-.27' L18 NB4'1T43"W J7.33' L54 S8Y 2'31' E 28.55' Ll9 N75'58'2'.W 26.24' L55 532'07'59"[ 29,62' L20 N52'27'OJ"W 53.90' L56 S.38'58'N"[ 19.65' L21 N56'11'15"W 47.42' L57 511"2.3'34" 30.83' l22 N70'43'22"W se.31' L58 521'56'54" 24.00' L2~ N71'Z2'3B"W 52.51' L59 533'4 '47r 25.23' ~24 N7,'34'3B"W 33.10' L60 . O'J.6~E iB.82' \.1::J 1<7 . Yw 2,60' L6, 52B'20'01"[ 16.86' L26 N85"14'17"YL.. 19.1" L62 527'02'00"[ 16.82' lO7 NB/12'S4"W I 27.52' L63 S25'07'59"E 37.09' lO8 S90'OO'00"W 20.98' L6~ 520'22'47'[ 42.72' "0 57 'OJ'17"W 92.92' L65 529'13'4 'E 29.16' '" 538'40'4 "Jj 22.43' L66 S02'';3'26''[ 22.37' L32 S10'37'26'W 36.57' L67 44' 1"E 11.95' U3 S 4"23'04"[ 22.11' L66 S22'54'44"W 6.59' . "4 568"32'41"E 40.37' L69 Sl716'17"W 8:5F~ "5 S49"12'42"E 1654' L70 S27'09'46"W 4'.0<1' "6 533'42'53"[ 11.91' l71 503'16'5 "E 11.42' L37 S20'33'39"W 16.97' L72 517'57' 1"W 22.83' L38 S (j' S'37"W 18.42' L73 S26'44'25"W 24.66' l3S 55 . - 32.64' I 1.74 559'35'25" E 17.46' ~40 569"3'00"E 32.4)' l75 586'4D'S6"E 20.70' L4' S71'J8'3~r E 14,68' L76 N7S'04'4 ' 33.64' L42 I' E 18,6" L77 N '47"S'E 54.18' L4J 583'4 ' 20.11' L78 N '49",r 104.65' L44 NBT44'3''';':' 25.24' L79 N04'D5'20~E 67.78' L45 N73'58'}4"E 22.23' L60 NOS2C'43"W 81.45' l45 N6 'J8'4 29.12' L51 "' '00'5'''[ 92.J8' L47 N59'27'25"E 20.31' 1.82 N3641'59" 139.49' CURVE TABLE CiJRVE LENGTH RADIUS DELTA C'~ORD CHOI~D BRG.~_ C27 62,61' 93.00' 38"J..4'20M 61.43' S6g-39'3~.W C26 33.09' 104.50' 16'08'36" 32,95' N81'58'59"[ C29 61.05' 157,00' 22'16'40" 60,66' Nfl4'Q1' ,"w C30 10.26' 25,00' 23'31'18" 10.19' I N64'12'42"yt C31 12,56' 50.00' 14'23'50" 12,53' N6J'31'27'W C32 3.55' 45.00' 4'31'2.3" 3.5~' N7S50'21ftW C33 7.18' 4-5.DO' -,- 9.08'14" 7 . ~ 7' NRQ'40'1rf'w C3' 1.55' 45.00' 1'5B'37" 1.55' N86' :'i'36"W CJ5 2,19' 45,00' 2'47'06" 2,19' N88'36'21'w C36 15.3B' 52.00' 1[26'43~ 15.32' SB"31'39"W I C37 31.20' 52.00' 34'22'.30" 30.7.3' S55'''2'CZ''W , H-J6 25.46' 52.00' 28'03'21" 25,21' S24"39'07'W CJg 34.49' 61.96' ~_).rQJ'37" 301.05' S04"25'39"W C40 2).22' 59.00' 20'3(;'32" 21.11' 534' 41 '20" E 04' 45.'3' S5.87' 2709'06" i 45_01' $60'33'12"E C42 42.53' 96.61 ' 25'10'11' <:2.19' 526' 12'02" E C43 8J.32' 49.66' 9TZ5'2if 7.3.64' S08'lT 1'( ._~ 2_8.:...!.h-- 59.00' 273;;":'lr 28.14' 561'58'39"[ C45 23,56' 59~OO' 22"52'55" 2.3.4" i 5 712'47'( C46 25.98' 59.00' 25'13'52M 25.77' S1B'S9'0'''W C47 25.27' 59.00' 24'32'22" 25.08' S29'34'2S"W C46 23,90' 59.00' 23'12'4 ~" ?:~.74' S05'41'SrW C49 73.83' 49.00' 86"19'50" 67.04' ..........ll6"2~1<30"[ COO .33..32' 52.QO' 35"42'38" 32.75' S86'34'a~~ C51 8.43' 52.00' 9'17'24" 8.42' N70'Z5'57"E C52 38.09' 52.00' 41'57'58" ..'37.24' N44'4B'16~E C53 17.91' 52.00' .} 9~4:'i'~7~ 17,82' -~13'57'18"E C54 i 9.47' 52.00' 10'26'03" 9.46' N01'07'42"W , , C5S 26.55' 93.00' :'6'21'3S' 26A6' N01' 4". I C56 I 43.32' 93.00' 2541'09" 42.92' N2.3"21 '25" E I D'XTA rnc~~n CONSULTING CMl~ ..a.. '"' ,... JL "..".,.,,&_, ~' 7 5 06 CliENT: GJK COLLIER LAND DEVELOPMENT, INC. LEL Y CANAL SKETCH OF DESCRIPTION ~~~(r::~050036,OO.02 ~!~~~tR; 1 4 or 1 4 ~1~~1ar.R: 0003 EX SK TiTl.E: stACf: 1"=150' ca.""u" 1f.C~Cal:lonS\lOlW FlMlh\~Il/J.FiIIAA.:mo1 "~j~fk~~~W C~tI((O ~. DAM S[~, ...~ ~cr' l~ so 26 Exhibit 2 Agenda Item No. 16B 1 0 April 22, 2008 Page 35 of 53 February 5, 2004 Patrick L. Utter Collier Enterprises 3003 Tamiami Trail North Naples, FL 34103 SUBJECT: Market Value Appraisal Lely Canal SW Quadrant ofTamiami Trl & Thomasson Dr Naples, Collier County, FL 34113 Integra Southwest Florid8 File No. 152-2003-0383 Dear Mr. Utter: Integra Realty Resources - Southwest Florida is pleased to transmit the summary report of a complete appraisal of the referenced property. The purpose of this appraisal is to develop an opinion of the retrospective market value of the Fee Simple estate of the property as of November 9,1986 and October 23,2002, tbe effective date of the appraisal. This report is intended to conform to the reporting requirements for a summary appraisal report set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, it presents only summary discussions of the data, reasoning, and analyses that are used in the appraisal process. Supporting documentation concerning the data, reasoning, and analyses is retained in our file. The depth of discussion contained in this report is specific to the needs of the client and the intended use of tile appraisal as noted herein. As of the effective date(s) of appraisal, the parent tract is a vacant, unimproved tract ofland containing an area of 1,605.45 acres, zoned for agricultural uses. 1t is presently known as the CDC PUD/DlU, and is located at the southwest quadrant of Tamiami Trail (US 41) and Thomasson Drive. The specific parcels that are subject to this appraisal are 14.2 acres of upland, 18.6 acres (15.5 acres of wetland and 3.1 acres of upland), and 13.9 upland acres of the Lely Canal; 9.68 upland acres, and 2.52 upland acres of the Lely Manor Canal; 3.5 upland acres of the Avalon School Outfall; and 1.0 upland acre of the Fern Street Relief System. These parcels collectively total 63.4 acres, of which 15.5 acres are wetland. Agenda Item No. 16B10 April 22. 2008 Page 36 of 53 Based on the analyses and conclusions in the accompanying report, and subject to the definitions, assumptions, and limiting conditions expressed herein, it is our opinion that the retrospective market values ofthe Fee Simple estate of the various properties was; Lely Canal As Of November 9, 1986 14.3 Acres of Upland 18.6 Acres 3.I Acres of Upland 15.5 Acres ofWetIand $286,000 $62,000 $20,150 Lely Manor Canal As Of November 9,1986 2.52 Acres ofUpJand $50,400 Avalon School Outfall As Of November 9, 1986 3.5 Acres of Upland :170,000 Fe.rn Street Relief System As Of November 9, 1986 1.0 Acre of Upland $20,000 Lei)' Canal As Of October 23, 2002 13.9 Acres of Upland $556,000 Lei)' Manor Canal As Of October 23, 2002 9.68 Acres of Upland $387,200 Agenda Item No. 16B10 April 22, 2008 Page 37 of 53 The preceding value conclusion is subject to the following Extraordinary Assumptions and Hypothetical Conditions: 1. We were not furnished a land survey for the areas subject to this appraisal, but were provided land area estimates by the client. It is assumed that the land area estimates are accurate. Integra Realty Resources - Southwest Florida reserves the right to change our value conclusion, if warranted, upon receipt of any information that could affect the value conclusion. 2. Values are based on two separate effective dates of appraisal: November 9,1986, and October 23, 2002. The conclusion of value is based on an analysis as if the subject parcels are zoned agricultural, regardless of the current CDC PUD/DRI zoning designation. These instructions are per the "Companion Agreement" between Collier Development Corp. and the Board of Commissioners of Collier County, a copy of which is contained in the addenda. If you have any questions or c.onunents, please contact the undersigned. Thank you for the opportunity to be of service. Respectfully submitted, INTEGRA REALTY RESOURCES - SOUTHWEST FLORIDA Timothy P. Brennan Florida State. Registered Trainee Real Estate Appraiser RI# 8836 Supervised b)l Julian L.H. Stokes, MAl, CRE, CCIM Florida State. Certified General Real Esrnte Appraiser RZ# 490 Julian L.H. Stokes, MAl, eRE, eClM Florida State-Certified General Real Estate Appraiser RZ# 490 Exhibit 3 Agenda Item No. 16B 10 April 22, 2008 Page 38 of 53 July 26, 2007 Ms. Valerie Pike Assistant Project Director Collier Enterprises 3003 North Tamiami Trail Naples, FL 34] 03 SUBJECT: Market Value Appraisal Sabal Bay - Easement Valuation Tamiami Trail East Naples, Collier County, Florida 34113 Client Reference Number: Integra Southwest Florida File No. 152-2007-0223 Dear Ms. Pike: Integra Realty Resources - Southwest Florida is pleased to submit an addendum to an appraisal report and referenced by our reference number 152-2003-0383. The purposc of the appraisal addendum is to develop an opinion of the market value of thc the Sabal Bay development project. The client for the assignment is Collier Enterprises, and the intended use is for asset valuation purposes. The appraisal is intended to conform with the Uniform Standards of Professional Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. Reference is made to the previously mentioned appraisal report, a copy of which may be found attached. Agenda Item No. 16B10 April 22, 2008 Page 39 of 53 Ms. Valerie Pike Page 2 Based on the analyses and conclusions in the attached repmi, and subject to the definitions, assumptions, and limiting conditions expressed therein, it is our opinion that the rctrospective market values of the Fee Simple estate of the various properties was: Lely Canal As Of November 9, 1986 14.3 Acres of Upland J 8.6 Acres 3.1 Acres of Upland 15.5 Acres of Wetland $286,000 $62,000 $20,150 Avalon School Outfall As Of November 9,1986 3.5 Acres of Upland $70,000 Lely CaRal As Of October 23, 2002 13.9 Acrcs of Upland $556,000 The above market value(s) are of the fee simple estate and re1lect the value of the entire "bundle of rights". Comparing a servient estate's bundle of rights with and without the deeded easements provides a means of quantifying the impact of the eascment. The bundle of rights is severable; its four major rights are possession, control, quiet enjoyment, and disposition. Depending on the definition of propel1y rights to be acquired and its intended use, one or all of thc rights may be affected. In the case of a fee-simple acquisition, none (or 0%) of the bundle of property rights are retained by the current owner (servient estate), and the ownership of 100% of the property rights transfers to the new owner, Relative to a less-than fee simple acquisition, that is, for a situation involving less-than 100% property rights being transferred, as in the case of the "Proposed Easement(s)" it is necessary for the appraisers to quantify the propel1y rights. An approach to measuring the impact of an easement is to look at the impact on the surface rights, subsurface rights, and air rights. @2oo7 BY INTEGRA REALTY ReSOURCES Agenda Item No. 16B 10 April 22, 2008 Page 40 of 53 Ms. Valerie Pike Page 3 In general terms, appraisal experts have traditionally allocated the easement rights between these three areas as: . Surface Rights: 50% . Subsurface Rights: 25% . Air Rights: 25% It is our understanding that at the present time each of thc areas proposed for conversion to eascment are owned in fec simple. The language set forth in the Dedication and Conveyance of Easement statcs (Grantor hereby grants and conveys to Grantee a perpetual, non-exclusive easement, license, and privilege for the purposes of clearing, excavating, construction and maintaining a drainage canal (Existing Canal Area, Canal Expansion Area, Spreader Lake, Avalon School Outfall Canal) and a drainage canal relief system (Fern Street Relief System), over, across, upon and through the described parcels). The Grantor and Grantor's successors and assigns will rctain the right to full use and enjoyment of the described parcels for all uses and purposes not inconsistent with the rights conveycd to the Grantee, Grantor (Collier Land Development, Inc. and CDC Land Investments, Inc.) will retain full responsibly for the maintenance of thesc areas. The easements to be conveycd consist largely of a drainagc canals, a spreader lake, and the Fern Street Relief System. Considering the previously referenced traditional allocation of easement rights, market derived paired sales analyses, and our own knowledge and cxpericnce, it is our opinion the drainage casement consumes 90% of the acquisition area. @20D7 BY INTEGRA REALTY RESOURCES Agenda Item No. 16 B 1 0 April 22, 2008 Page 41 of 53 Ms. Valerie Pike Page 4 We determined the market value of the fee simple for these parcels based on $20,000 per upland acre and $1,300 per wetland acre. Therefore the value of the easement areas would be based on $18,000 per upland acre ($20,000 X .90) and $1,170 per wetland acre ($1,300 X 90%). This results in the following value conclusion for the conveyance areas (only those areas addressed in the attached appraisal report). Lely Callal As Of Novcmbcr 9, 1986 14.3 Acres of Upland 18.6 Acres 3.1 Acres of Upland 15.5 Acres of Wetland $257,400 $55,800 $18,135 Avaloll School Outfall As Of Novembcr 9,1986 3.5 Acres of Upland $63,000 Lely Canal As Of October 23, 2002 13.9 Acres of Upland $500,400 If you have any questions or comments, please contact the undersigned. Thank you for the opportunity to be of service. c_~_..._ " .,... - . -.----. .. __.. ;;;l._. -= --- ... .---.. 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"-" ;~ l co 66! 0 Willow Park Drive Suite 200 Naples, FL 34109 (239) 597-0575 1542 CllIson Street Fort Myers, FL 33901 (239) 278-5224 , ...", .Q . - ....... ; ...". en c:> ~(j;h Principal DOOM ~O", IllO~ <oNO .N~ ON Z==(l) Eo.g' ~<(D.... <1l "0 C Q) Ol <!; ~ !!o ..] it" ~\1. ;Ole <l:: .o(S.;j 115..... ~ t ~ }~~ ~O~ ~~'i ~;.,j.. ;J" f"'Y~J ~8~ tlO Ol ~ Q .:: ~ ~ ~ "" ... is 0'" ~I ~~ o 110 ~ "is .!! -1ii " o ~ ~ ~ $ ~ .~ !:; 11 ~ ~ A <') ~ u.1 :>< ;q ~ ~ s. ~ '" e .!l '" ~ OIl a " u . is ] is ~ "',... ~,;~~~~-;g.... ~gr-:~..ca\~~-; - -'" :~~~~~<<<~ ooooZZ~d 'fi~~~~~<<<'" rt'l~=:...e~ZZ~ ~~~!!Uijl ~~~S~lXllXllXl~ 13::E::E~::El].p ~gg33.!l~~1 11 OOO'lt'""-M iooC'iodr..:t1o-.-.:t'otn ~S;~:2;;:vl"";v)~ 1) ~<~<~"7~ro;'l.... -NNrf'\'<<<..... :$~~-:too 10 G pt\~ Z. ""' "2.. e; '" '" '" '" -..i- 0\ '" '" it. '" 00 .; c:- '" E E OJ <ll e> '" ti "' i5 "6> c c ill c 6> c I.lJ .~ :l2 "3 '" c o U ~ .. c c3 " '"' '"' " '-6 II N + ~ <"l ~ ~ G + ...; 0 c-: 0 0 :::: ~ ~ - f:3 - '" o '" '" ~ '" '" ~ '" III <ii .0 '" (f) 8 c<i '" <ci '" '" g 9 U"J "" ~ d ..... o.l= = ..... c:: :::c ..., ['... l- ce ~ G: II ;ii'11.- ~~~ t~~ ~ ~ ! ~ " iljl~ -B~%'~Po~ i5:j;j~~Q. ~>-fDa~ 8.3.~=tc; g g.~ ~ ~ J :::: e Ei: :: ,g 13 S U ti1 ~ ~ ~ Agenda Item NcoL[J1gJ April 22, 2008 Page 53 of 53 ~"~,.,~.,,, ,c" '1' , "'- ,,,,,,It,:l,, !!..jc! . ~~.""iiti '^' ~~t~"". " f'l~ I ot- , LEL V CANAL PROPOSED BUDGET (Presented on January 19, 2007) DescriDtion of Work Environmental Services - Est Environmental. Permit Costs to date' Civil Engineering - Est Civil Engineering Perm it Costs to date Excavation Rock 81asting and Handling " Water Quality Monitoring Controlled 8urn Exotics Removal Plantings Miscellaneous Contingencies (Approx 5%) Total Cost Modified Drainage Design ProDosed 8udaet $ 110,100 $55,500 $ 100,500 $37,700 $3,167,138 $1,000,000 $ 36,000 $ 52,500 $ 294,000 $ 115,000 $ 25,000 $ 250,000 Less 3,500 CY Excavation at $2.28/CY $5.243,438 -$7,980 $5,235,458 Total Cost LASIP Design County's Proportionate Share (95.15%) Less 3,500 cubic yards of excavation $4,981.538 NOTE: Eighty percent of the total project budget will be spent on Excavation. (Ex" Grading the canal, building embankments, spreading fill in designated areas, and creating a spreader lake wIth a weir, in order to control the water level in the canai.) The proposed budget reflects the lesser of two bids for this work.. ><- ><- ".. o :x:I .- r--...> , ........ i ao : '"'" G:l ........ ..- CT> r--...> ><- ... ...