Backup Documents 10/25/2022 Item #16G2 ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP 1 6 G 2
TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO
THE BOARD OF COUNTY COMMISSIONERS OFFICE FOR SIGNATURE
Print on pink paper. Attach to original document. The completed routing slip and original documents are to be forwarded to the County Attorney Office
at the time the item is placed on the agenda. All completed routing slips and original documents must be received in the County Attorney Office no later
than Monday preceding the Board meeting.
** ROUTING SLIP**
Complete routing lines#1 through#2 as appropriate for additional signatures,dates,and/or information needed. If the document i alrea y complete with the
exception of the Chairman's signature,draw a line through routin lines#1 through#2,complete the checklist,and forward to th8'Coun AttorneyOffice.
P � g Pz P �'
Route to Addressee(s)(List in routing order) Office Initials Date
1.
2.
3. County Attorney Office County Attorney Office
5.atiM 10/25/22-
4. BCC Office Board of County
Commissioners 1 irP4 10/25/22
5. Minutes and Records Clerk of Court's Office
PRIMARY CONTACT INFORMATION
Normally the primary contact is the person who created/prepared the Executive Summary. Primary contact information is needed in the event one of the
addressees above may need to contact staff for additional or missing information.
Name of Primary Staff Andrew Bennet Phone Number
Contact/Department NeA4kec /Me Cr 2s2' 5765
Agenda Date Item was 10/25/22 r Agenda Item Number 16.G.2
Approved by the BCC
Type of Document(s) Amendment Number of Original 1
Attached Documents Attached
PO number or account
number if document is Po# 415- 112 3 7 0
to be recorded
INSTRUCTIONS& CHECKLIST
Initial the Yes column or mark"N/A"in the Not Applicable column,whichever is Yes N/A(Not
appropriate. (Initial) Applicable)
1. Does the document require the chairman's original signature(instead of stamp)? n/a
2. Does the document need to be sent to another agency for additional signatures? If yes,
provide the Contact Information(Name;Agency;Address; Phone)on an attached sheet.
3. Original document has been signed/initialed for legality. (All documents to be signed by MB
the Chairman,with the exception of most letters,must be reviewed and signed by the
Office of the County Attorney.)
4. All handwritten strike-through and revisions have been initialed by the County Attorney MB
Office and all other parties except the BCC Chairman and the Clerk to the Board.
5. The Chairman's signature line date has been entered as the date of BCC approval of the MB
document or the final negotiated contract date whichever is applicable.
6. "Sign here"tabs are placed on the appropriate pages indicating where the Chairman's MB
signature and initials are required.
7. In most cases(some contracts are an exception),the original document and this routing slip n/a
should be provided to the County Attorney Office at the time the item is uploaded to the
agenda. Some documents are time sensitive and require forwarding to Tallahassee within a
certain time frame or the BCC's actions are nullified. Be aware of your deadlines!
8. The document was approved by the BCC on_10/25/22_and all changes made
during the meeting have been incorporated in the attached document. The County
Attorney Office has reviewed the changes,if applicable.
9. Initials of attorney verifying that the attached document is the version approved by the
BCC,all changes directed by the BCC have been made,and the docum nt is ready for the
Chairman's signature. " Cerf i Y i e d
retwrA —
Please Joirreeil a completed copy to
Madison.Bird@Colliercountyfl.gov
I:Forms/County Forms/BCC Forms 2.24.05;11/30/12;4/22/16;9/10/21
INSTR 6323336 OR 6185 PG 2943 1 6 V.2
RECORDED 10/28/2022 9:23 AM PAGES 13
CLERK OF THE CIRCUIT COURT AND COMPTROLLER
COLLIER COUNTY FLORIDA
REC$112.00 INDX$1.00
FIRST AMENDMENT TO COLLIER COUNTY AIRPORT AUTHORITY
LEASEHOLD AGREEMENT FOR HANGAR CONSTRUCTION
THIS FIRST AMENDMENT TO LEASEHOLD AGREEMENT (this "First
Amendment") is made as of the 1 1th day of October, 2022, by and between the COLLIER COUNTY, a
political subdivision of the State of Florida,acting as the COLLIER COUNTY AIRPORT AUTHORITY,
with administrative offices located at 2005 Mainsail Drive, Suite 1, Naples, Florida 34114 (hereinafter
referred to as the "Authority"), and Marco Hangars, LLC, a Florida Limited Liability Company (the
"Tenant") (the Authority and Tenant are collectively referred hereto as the "Parties"). The Parties
hereby mutually covenant,agree,and promise as follows:
WHEREAS, the Parties entered into a Leasehold Agreement for Hangar Construction (the
"Leasehold Agreement")on July 9,2019;and
WHEREAS,due to issues beyond the control of the Tenant including but not limited to arranging
financing for the project through government backed lenders, the Parties wish to amend the Existing
Leasehold Agreement to amend and address issues more specifically set forth below that are requirements
for Tenant to obtain financing for a United States Small Business Administration ("SBA") 504 Loan or
from a Certified Development Company and its successors or assigns (the "SBA Lender"), which
provides financing for the purchase of fixed assets at below market rates.
NOW, THEREFORE,the Authority and the Tenant agree that the Leasehold Agreement shall be
revised by this First Amendment, with respect to the revisions contained herein,effective as of the above
date,as follows(strilEetlreugh=deleting/underscoring=adding):
1. Section 24,Assignment, Sublease,Sale and Encumbrance, is hereby amended as follows:
24. ASSIGNMENT,SUBLEASE,SALE AND ENCUMBRANCE.
* ** *
H. Any SBA Lender of Tenant holding an existing unsatisfied mortgage that assumes the
legal authority to act in place of the Tenant, arising as a result of an incident of default under the Lease,
{ shall be afforded the same rights as the Tenant with respect to subleasing the Premises.
* * * *
2. Section 29,Default,subsection A,is hereby amended as follows:
29. DEFAULT.
Each of the following shall constitute an event of default on the part of Tenant under this
Lease:
A. Nonpayment. Failure of Tenant to pay when due any installment of the lease
rental payment hereunder or interest on a late lease rental payment,or failure of Tenant to pay when due
any taxes, fees,fines, charges,special assessments or other amounts due under this Lease, if such failure
continues and is not fully cured within ten (10) days after written notification to Tenant of such failure
and SBA Lender. To the extent that the Tenant has financed the Hangar Facility Construction with an
approved Small Business Administration Lender("SBA Lender"),the SBA Lender shall be afforded sixty
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(60) days to cure the default commencing from the period after written notification to Tenant referenced
herein;
3. Section 31, Destruction and Restoration of Premises,subsection B, is hereby amended as
follows:
31. DESTRUCTION AND RESTORATION OF PREMISES.
In the event that the Premises or the improvements located thereon shall be destroyed in
whole or in part by fire,hurricane,flood or other casualty,then the following will apply:
* * * *
B. If the damage to the Premises exceeds fifty percent(50%),the Tenant shall have
the option to rebuild an equivalent structure using the insurance proceeds to pay for the reconstruction
cost. If the Tenant elects to rebuild, it is obligated to commence construction within six(6)months from
the date of the destruction and to complete construction within eighteen (18) months after the date of
destruction. The lease rental shall abate during the period of reconstruction but in no event shall abate in
excess of six (6) months from the date of commencement of reconstruction, or Tenant will have the
option to terminate this Lease in which case Authority will retain the insurance proceeds as liquidated
damages, so long as any SBA leasehold mortgages have been satisfied: in the event that there are
unsatisfied SBA leasehold mortgages, the insurance proceeds shall first be applied to any outstanding
balance on such mortgage. In any event, Tenant shall comply with the requirements of Sections 12, 13
and 14 above.
* * * *
4. Section 37,Condemnation,is hereby amended as follows:
37. CONDEMNATION.
A. Lease Termination. If,at any time during the term of this Lease,the Authority's
possession or rights are terminated, or the entire or substantially all of the Premises shall be taken in
condemnation proceedings or by any right of eminent domain,then this Lease shall terminate and expire
on the date of such event and the lease rental and other charges payable hereunder shall be apportioned
and paid to the date of such event.For purposes of this Section, "substantially all of the Premises"shall be
deemed to have been taken if the remaining portion of property cannot be practically and economically
used or converted for use by Tenant for the purpose permitted by this Lease.
B. Compensation. Nothing herein shall waive any right that Authority,er Tenant or
SBA Lender may have concerning any rights to be compensated for the appropriation or taking of
property or rights by condemnation.
5. Section 49,Amendment, is hereby amended as follows:
49. AMENDMENT.
This Lease shall not be altered, changed, or amended except by instrument in writing
executed by the Authority and the Tenant,and with notice to and the consent of any SBA Lender,whose
consent shall not be unreasonably withheld or delayed.
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6. All other provisions contained in the Existing Leasehold Agreement dated July 9, 2019,
as amended,shall remain in full force and effect.
IN WITNESS WHEREOF, the Parties have caused this First Amendment to Leasehold
Agreement to be executed on the above stated date.
AUTHORITY:
ATTEST: BOARD OF COUNTY COMMISSIONERS OF
Crystal K.Kin2ei, COLLIER COUNTY, I RIDA, SERVING AS
Clerk of Courts and Comptroller THE COLLIER CO rp AIRP• . ' UTH* ITY
O
By: " By: _.
D u rk WilI L. McDaniel,Jr., Chairman
Attest as to Chairman's
signair onl .
A roved as to f legality:
Sc . Tea h
Deputy County Attorney
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TENANT:
WITNESSES: MARCO HANGARS,LLC
By: 7,6 - ,--
Witnes Print Name:MIRASH VATAJ
Print ame: . Print Title: OWNER/MANAGER
itness#2
Print Name: 4-"1 ° - n,4 tN ?
-4- tAU
AMENDMENT TO CONSENT TO
ENCUMBRANCE AND AGREEMENT WITH LENDER
THIS AMENDMENT TO CONSENT TO ENCUMBRANCE AND AGREEMENT WITH
LENDER (this "Consent Agreement") is made effective as of this 11 m day of October, 2022
("Effective Date"),by and between Collier County,a political subdivision of the State of Florida,
acting as the Collier County Airport Authority, with administrative offices located at 2005
Mainsail Drive, Suite 1, Naples, Florida 34114 (the "Landlord"), Berkeley Alternative Income
Fund I, LLC, a Mississippi limited liability company whose address for purposes hereof is 3500
Parkway Lane, Suite 430, Norcross, Georgia 30092 ("Lender"), and Marco Hangars, LLC, a
Florida limited liability company,having a mailing address of 346 Bald Eagle Drive,Marco Island,
Florida 34145 ("Tenant/Leasehold Mortgagor").
RECITALS
A. The Landlord is the owner and holder of an interest in and to that certain real property and/or
improvements in Collier County, Florida, described in the Leasehold Mortgage as hereafter
defined. The Landlord has leased such real property and/or improvements to or for the benefit
of the Tenant/Leasehold Mortgagor,Marco Hangars,LLC,a Florida limited liability company,
pursuant to the terms and conditions of that certain Leasehold Agreement for Hangar
Construction dated July 9, 2019, between the Landlord and Tenant/Leasehold Mortgagor(the
"Ground Lease"),which is evidenced by that certain memorandum of lease,dated the 13th day
of April 2021 and recorded at Official Records Book 5930, Page 2246 of the Public Records
of Collier County,Florida, and as amended by that certain First Amendment to Collier County
Airport Leasehold Agreement for Hangar Construction ("First Amendment") dated October
11, 2022, pursuant to which the Landlord is leasing to Tenant/Leasehold Mortgagor the real
property described in Exhibit"A,"attached hereto(the"Premises").
B. On April 13, 2021, the Parties entered into a Consent to Encumberance and Agreement with
Lender, providing for the encumberance of the Tenant/Leasehold Mortgagor's interest in the
Ground Lease, which was recorded at Official Records Book 5930, Page 2260 of the Public
Records of Collier County,Florida.
C. Tenant/Leasehold Mortgagor mortgaged and encumbered all of Tenant/Leasehold
Mortgagor's right, title and interest in and to the Ground Lease for the benefit of Lender,
pursuant to the following identified Leasehold Mortgage,Assignment of Leases and Rents and
Agreement, dated January 27, 2021, and recorded in the Official Records of Collier County,
Florida at Official Record Book 5916, Page 642, of the Public Records of Collier County,
Florida(the"Existing Leasehold Mortgage"),in the loan amount of$4,772,829.62, subject to
the terms and conditions of the Ground Lease,as amended.
D. Tenant/Leasehold Mortgagor and Lender entered into a Leasehold Mortgage Modification and
Severance Agreement (the "Leasehold Mortgage Modification Agreement"), and related
similar instruments,on July 13,2022,and recorded it in the Official Records of Collier County,
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Florida at Official Record Book 6161, Page 701, of the Public Records of Collier County,
Florida, to sever the principal amount Tenant/Leasehold Mortgagor owed under the Existing
Mortgage with Lender into two separate notes consisting of the following: (1)a TPL Note in
the principal amount of$2,891,873.00,and(2)a Small Business Administration("SBA") 504
Interim Loan Promissory Note in the principal amount of$1,735,123.00(collectively referred
to as the "Split Notes"), to facilitate the Tenant/Leasehold Mortgagor's obtaining more
favorable financing for a portion of its indebtedness under a Small Business Administration
504 loan. Upon Lender's assignment of the SBA loan to the United States Small Business
Administration, the SBA loan amount will be modified to encompass SBA Fees that will
increase that final loan amount to$1,785,000.
E. Lender has requested that the Landlord execute this Amendment to Consent Agreement in
connection with the Existing Leasehold Mortgage, as modified by the Leasehold Mortgage
Modification Agreement. In the event of a conflict with any provisions of the Ground Lease
or its First Amendment,the provisions of this Agreement shall control.
NOW, THEREFORE, for an in consideration of the premises and other good and valuable
considerations, the receipt and sufficiency of which is hereby acknowledged, the Landlord and
Lender and Tenant/Leasehold Mortgagor agree with each other as follows:
Underscored Words Added/
TERMS
1. Consent. Subject to the terms and conditions of this Amendment to Consent
Agreement,the Landlord hereby consents to the severance,execution and delivery of the Existing
Leasehold Mortgage by Tenant/Leasehold Mortgagor to Lender (and authorizes authorized and
ratifies the recordation of the Leasehold Mortgage in the Public Records of Collier County,
Florida),pursuant to which Tenant/Leasehold Mortgagor's Existing Mortgage and-encumberings
all of Tenant/Leasehold Mortgagor's right, title and interest in and to the Ground Lease in favor
of Lender to secure the obligations,is separated into the Split Notes to allow the Tenant/Leasehold
Mortgagor to obtain partial re-financing of the total encumbered sum in the amount of
$1,735,123.001,which sum will be assigned to the SBA under an SBA 504 Loan(the"Leasehold
Mortgage Modification Agreement").
2. Status of Ground Lease. The Landlord represents and warrants that: (a) the
Ground Lease is in full force and effect as of the Effective Date; (b) the rent due the Landlord
under the Ground Lease has been paid up to and including the Effective Date; (c) all of the
obligations of the Landlord under the Ground Lease have been performed up to and including the
Effective Date; and (d) to the best of the Landlord's knowledge, no default by the
3 Once assigned to the SBA,with all incorporated SBA fees included,the SBA 504 Loan amount will be
$1,785,000.
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Tenant/Leasehold Mortgagor under the Ground Lease has occurred and is continuing as of the
Effective Date.
3. Written Notices to the Landlord. Lender shall mail to the Landlord a copy of any
written notice of default under the Leasehold Mortgage that Lender delivers to Tenant/Leasehold
Mortgagor at the Landlord's address indicated hereinabove at the same time it is provided to
Tenant/Leasehold Mortgagor.Lender shall immediately and directly notify the Landlord in writing
at the Landlord's address indicated hereinabove if any event of default occurs under the Leasehold
Mortgage or Tenant/Leasehold Mortgagor or any other parties fail to perform any of the
Obligations.
4. Written Notices to Lender and Lender's Right to Cure Monetary Defaults. The
Landlord shall mail to Lender a copy of any written notice of default under the Ground Lease that
the Landlord delivers to Tenant/Leasehold Mortgagor at Lender's address indicated hereinabove
at the same time it is provided to Tenant/Leasehold Mortgagor,or to such other address as provided
to Landlord. Lender shall be afforded sixty (60) days to cure any monetary default under the
Ground Lease, with such period commencing from the period after written notification to the
Tenant/Leasehold Mortgagor;Lender shall also be afforded the right to cure or attempt to cure any
non-monetary default under the Ground Lease to the same extent that right is afforded to the
Tenant/Leasehold Mortgagor under the Ground Lease.
5. Foreclosure or Assignment In Lieu of Foreclosure. Lender may, in accordance
with the terms of the Existing Leasehold Mortgage, as modified by the Leasehold Mortgage
Modification Agreements the Ground Lease and applicable law, either: (a) foreclose the interest
of Tenant/Leasehold Mortgagor in the Ground Lease, or (b) accept an assignment of
Tenant/Leasehold Mortgagor's interest in the Ground Lease in lieu of foreclosure in the name of
Lender,which assignment shall not constitute in itself an event of default under the Ground Lease.
Upon completion by Lender of foreclosure or assignment in lieu of foreclosure,the Landlord and
Lender agree that: (i) Lender shall be responsible for all of the duties and liabilities of
Tenant/Leasehold Mortgagor under the Ground Lease; (ii) Lender shall accept the assignment
from Tenant/Leasehold Mortgagor and assume all of the obligations of Tenant/Leasehold
Mortgagor as the lessee under the Ground Lease for the entire term thereof;and(iii)the Landlord
shall recognize the Lender as the lessee under the Ground Lease; provided, however, any further
or subsequent assignment by Lender of any interest in the Ground Lease shall be subject to the
terms and conditions of the Ground Lease and require the prior written consent of the Landlord,
which consent shall not be unreasonably withheld; provided further, however,the Landlord may
impose reasonably appropriate conditions on the Lender and any assignee prior to consent to such
assignment.
6. Assignment of the Leasehold Mortgage. Lender shall not assign or otherwise
transfer any interest in the Leasehold Mortgage without Landlord's prior written consent, which
shall not be unreasonably withheld; provided further, however, the Landlord may impose
reasonably appropriate conditions on the Lender and any assignee prior to consent to such
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assignment or other transfer.Lender shall provide Landlord with at least thirty(30)days advanced
written notice of any potential assignment. Landlord shall then have seven(7) days from receipt
of such notice to either provide Lender its written consent or denial of the potential assignment.In
the event such consent is denied, Landlord shall state in its written notice of denial its reasons for
such denial. Landord shall also provide Lender the opportunity to appeal Landlord's denial of
consent. Such appeal shall be in writing and be transmitted to Landlord no later than seven (7)
days after Lender's receipt of Landlord's denial. Landlord shall have an additional seven(7)days
from receipt of Lender's written appeal to provide Lender its final consent to or denial of the
potential assignment. Any consent by the Landlord shall apply only to the specific transaction
thereby authorized and shall not constitute a waiver of the necessity for such consent to any
subsequent transaction.
7. Exceptions: Judicial Sale/Assignment to Lender Party. Sections 24A(except for
the second paragraph thereof)and 24B of the Ground Lease shall not apply to any of the following:
any judicial sale or assignment of the Ground Lease relating to or stemming from a foreclosure or
assignment in lieu of the Leasehold Mortgage,if the entity assigned or conveyed the Ground Lease
is the Lender or a subsidiary of the Lender (such subsidiary of the Lender being a"Lender Party").
If a Lender Party becomes the tenant under the Ground Lease, it shall be liable for the obligations
of the tenant thereunder only for the period of time of such Lender Party or permitted assignee is
the tenant under the Ground Lease.
8. No Modifications to or Surrender of the Ground Lease. No modifications to the
Ground Lease shall be made or be effective, and Landlord shall not accept the surrender of the
Premises or any part thereof or a cancellation or release of the Ground Lease from
Tenant/Leasehold Mortgagor, without in any such case providing prior written notice to and
consent from the Lender,which consent shall not be unreasonably withheld or delayed by Lender.
9. Successors and Assigns. This Amendment to Consent Agreement shall be binding
upon, and shall inure to the benefit of, the Parties and their respective successors and assigns
permitted hereunder.
10. Notices. Each notice or other communication hereunder shall be in writing and
sent by either certified mail, return receipt requested, or a nationally recognized courier service
(such as Federal Express or UPS) to the intended recipient at its address set forth in this
Amendment to Consent Agreement. Each such notice or other communication shall be deemed
received by the intended recipient when it is received by the intended recipient at the applicable
address or a pickup notice is left at such address in accordance with the deliverer's standard
procedures. Any party may substitute a new address for it to receive notices or other
communications hereunder by notifying the other parties of such new address in accordance with
this section,with any such change in address becoming effective 10 business days after the notice
notifying the other parties of the change.
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11. This Amendment to Consent Agreement shall be binding upon and inure to the
benefit of the parties hereto, and their respective successors and assigns, may be executed in a
number of multiple identical counterparts which,when taken together,shall constitute collectively
one agreement, shall be governed by and construed in accordance with the laws of the State of
Florida,with jurisdiction and venue for its enforcement being in the State and federal courts in and
for Collier County,Florida.
IN WITNESS WHEREOF, the Landlord, Tenant/Leasehold Mortgagor and Lender have
executed this Consent Agreement as of the day and year first above written.
ATTEST: LANDLORD:
Crystal K. Kinzel, Clerk of Courts Board of County Commissioners,Collier
and Comptroller County,Florida, a political subdivision
of the State of Florida,acting as the Collier
County Airp• i • •
C?) An- OA
By: By: —.ow"
WIL/ • L. McDANIEL,JR., Chairman
Dated: L`b' ai "
(SEAL) Attest as to(Oman
slonatoo nf1V.
A p: ove as to Form d Legality:
Scott R.Teach
Deputy County Attorney
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TENANT/LEASEHOLD MORTGAGOR:
MARCO HANGARS,LLC,a Florida limited
liability company
By:
7ayi
Print Name: Mirash Vataj
Its: Manager
n
e / alb
STATE O UA
COUNTY OF/Alt-t✓ )
The foregoing instrument was acknowledged before me by means of Kphysical presence
or [ ]online notarization,this Z7 hday of 0q.,.1 ,2022,by Mirash Vataj,as Manager
of Marco Hangars,LLC,a Florida limited liability company,on behalf of the company. He [
is personally known to me or has produced as identification.
ANGJELO HARAPI
Notary Public-State of New York Notary jjc, fIoridaJ�}CWfQ,^
Qualified in Westchester County My Commission Expires Jun 11,2026 Commission No.: 6\ , 1
ktN(p 31(0 5 r�
My Commission Expires: ?o
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LENDER:
BERKELEY ALTERNATIVE INCOME FUND I,
LLC, a Mississippi limited liability company
By:
Its: Al G,ViGj r
Print Name: 1U/t Pc4Irn ZW
STATE OF FLORIDA )
COUNTY OF RA I-1-00 )
The foregoing instrument was acknowledged before me by means of V] physical presence
or [ I online notarization,this (Q day of 0 cA O ber- ,2022,by -Ding roll 6ti o ,
as lA a-n O O e r of Berkeley Alternative Income Fund I,
LLC,a Mississippi limited liability company,on behalf of the company. He/She [$] is personally
known to me or has produced as identification.
osstiiioi� Notary Public, State of Ida Oeornia
� gLOC '�,, Commission No.:
• f ''��pR �N My Commission Expires: 0 /I Zo 2-33
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SG. > O
' A;iCOUNCo ``‘
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EXHIBIT"A"
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LEGAL DESCRIPTION OF A PARCEL OF LAND LOCATED IN A PORUON OF SECTION 28,TOWNSHIP 51, RANGE 20E OF COWER COUNTY, FLORIDA,BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCE AT THE NORTHEAST CORNER OF MARCO ISLAND EXECUTNE AIRPORT AS RECORDED IN O.R. 4395 PO, 1277 OF THE PUBLIC RECORDS OF
COWER COUNTY FLORIDA; THENCE RUN S,12'OO'0D'E,ALONG THE WEST LINE OF MARCO ISLAND EXECUTNE AIRPORT AS RECORDEO IN O.R. 2034 P0,
1261 OF THE PUBLIC RECORDS OF COWER COUNTY, FLORIDA FOR A DISTANCE OF 1191.48 FEET TO THE SOUTH LINE OF SAID MARCO ISLAND
EXECUTNE AIRPORT;THENCE LEAVINO SAID LINE, CONTINUE TO RUN S.12'00'804f FOR 49.70' TO THE SOWN LINE OF MARCO ISLAND EXECUINE
AIRPORT LIMITS OF DEVELOPMENT AREA AS RECORDED IN O.R.6401 POS,2040-2047;THENCE ALONG THE BOUNDARY LINE OF SAID DEVELOPMENT
AREA RUN 5,78'O0'00'W. FOR A DISTANCE OF 89.13 FEET TO THE P01141 OEBEGINNIN¢OF THE PARCEL OF LAND HEREIN DESCRIBED; THENCE
CONTINUE ALONO SAID LINE RUH S.70'00'001t, FOR A DISTANCE OF 248.00 FEED THENCE LEAVING SAID LINE RUN N.12'OD'OO'VI, FOR A INSTANCE OF
478.00 FEET;THENCE RUN N.7600`00'E,FOR A DISTANCE OF 248,00 FEETI THENCE RUN 5,12'00'OO"E.FOR A DISTANCE OF 478,00 FEET, TO THE
POINT OF BEGINNING OF THE PARCEL HEREIN DESCRIBED, CONTAINING 2.89 ACRES,MORE OR LESS.
DFARINOS REFER TO THE WEST LINE OF MARCO ISLAND EXECUINE AIRPORT AS RECORDED IN O.A,2034 PO, 1281 OF THE PUBLIC RECORDS OF
COLLIER COUNTY, FLORIDA AS BEINO S$ O0'00"E,
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