Backup Documents 10/25/2016 Item #11B ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP 1 1 B
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.
**NEW** ROUTING SLIP
Complete routing lines#1 through#2 as appropriate for additional signatures,dates,and/or information needed. If the document is already complete with the
exception of the Chairman's signature,draw a line through routing lines#1 through#2,complete the checklist,and forward to the County Attorney Office.
Route to Addressee(s) (List in routing order) Office Initials Date
1.
2.
3. County Attorney Office County Attorney Office JAK 11/1/16
4. BCC Office Board of County
Commissioners
5. Minutes and Records Clerk of Court's Office y, ‘‘11111P
1 ' `� 3: „
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 Nick Casalang 'da,Deputy County Phone Number 252-8383
Contact/Department Manager
Agenda Date Item was 10/25/16 Agenda Item Number 11-B(CRA)
Approved by the BCC
Type of Document Third Amendment to Real Estate Number of Original One
Attached Agreement Documents Attached
PO number or account n/a
number if document is
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 STAMP OK JAK
2. Does the document need to be sent to another agency for additional signatures? If yes, JAK
provide the Contact Information(Name;Agency;Address;Phone)on an attached sheet.
3. Original document has been signed/initialed for legal sufficiency. (All documents to be JAK
signed by 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's JAK
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 JAK
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 JAK
signature and initials are required.
7. In most cases(some contracts are an exception),the original document and this routing slip JAK
should be provided to the County Attorney Office at the time the item is input into SIRE.
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 10/25/16 and all changes made during JAK a ?
the meeting have been incorporated in the attached document. The County
Attorney's Office has reviewed the changes,if applicable.
9. Initials of attorney verifying that the attached document is the version approved by th' k
BCC,all changes directed by the BCC have been made,and the document is ready fo e
Chairman's signature.
Please email Jeff Klatzkow a fully executed copy.
I:Forms/County Forms/BCC Forms/Original Documents Routing Slip WWS Original 9.03.04,Revised 1.26.05,Revised 2.24.05;Revised 11/30/12
1 1B
THIRD AMENDMENT REAL ESTATE PURCHASE AGREEMENT
THIS THIRD AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT
("Amendment") is made and entered into this Z64-, day of October, 2016, by and between
Collier County Community Redevelopment Agency,an agency established by an ordinance of
the Board of County Commissioners of Collier County, a political subdivision of the State of
Florida ("Seller"), and Real Estate Partners International, LLC, a Delaware limited liability
company and/or assigns("Purchaser").
For good and valuable consideration, the receipt, adequacy and sufficiency of which are
hereby expressly acknowledged by the parties, the parties agree that the Real Estate Purchase
Agreement between them approved April 26, 2016 and dated May 9, 2016, as previously
amended by that certain Amendment to Real Estate Purchase Agreement dated September 27,
2016, as well as by that certain letter agreement dated October 5, 2016 confirming an
administrative extension of the Inspection Period as ratified by Seller on October 11, 2016
(collectively,the"Agreement")is modified in the following respects:
1. Purchaser and Seller acknowledge that, until relocated, the cell tower located on
the Property will prohibit Purchaser's intended development of the Property and that Purchaser's
Proposal, as referenced in the Agreement, contemplated that Purchaser would not have to bear
the cost of its relocation. The Purchaser and the Seller discussed the encumbrance of the cell
tower during the negotiation of the Agreement and concurred that the details of eliminating the
encumbrance would be settled during the due diligence period as both the Purchaser and Seller
recognized that the relocation must be done cooperatively. It is further understood that Purchaser
has had discussions with the cell tower owner/operator/lessee who has tentatively agreed to
relocate the cell tower offsite temporarily during construction or permanently and that any future
discussions with the cell tower owner/operator/lessee will include a Seller's representative.
Purchaser and Seller recognize that reaching an agreement with the cell tower
owner/operator/lessee for the relocation of the cell tower is necessary in order to proceed with
the development of the Property. Accordingly, obtaining such an agreement in writing shall be a
condition to Closing and Section 9.a. of the Agreement is hereby amended to add as a new
subsection (ix) the following: Purchaser, Seller and the owner/operator/lessee of the cell tower
on the Property have entered into a binding agreement concerning the relocation of the cell tower
off the Property or within the Property, but in a manner that does not interfere with Purchaser's
planned development of the Property.
2. In the event costs are incurred by the owner of the Property in connection with the
relocation of the cell tower, Purchaser and Seller hereby agree that, if Purchaser were to close on
the purchase of the Property, then after Closing, they will share the cost to relocate the cell tower
located on the Property as follows:
a. $500,000.00 shall be withheld at Closing from Seller's net sales proceeds and
retained in escrow by Old Republic National Title Insurance, as escrow agent
(the"Escrow Account");
b. Any and all costs to relocate the cell tower up to the first$250,000.00 shall be
borne solely by Seller and paid out of the Escrow Account;
c. In the event the costs to relocate the cell tower exceed $250,000.00, any and
all costs in excess of such $250,000.00, up to $750,000.00, shall be borne
11B
equally between Purchaser and Seller. Seller's equal share of such costs will
be paid out of the Escrow Account. Seller shall not be required to pay any
additional monies over and above the Escrow Account, except as provided in
Section e, below;
d. In the event the costs to relocate the cell tower exceed $750,000.00, any costs
in excess of such$750,000.00 shall be paid solely by Purchaser; and
e. Provided, however, in the event Purchaser does incur any costs in excess of
such $750,000.00, then the Tax Increment Rebate ("TIR") (as identified in
Exhibit F to the Agreement) for the Property shall be increased from 50% to
100% until such time as Purchaser has been reimbursed, by such increased
50% share of the TIR, for all costs in excess of the $750,000.00. Once fully
reimbursed, the TIR share shall be reduced back to 50% for the remaining
balance of the TIR's ten(10)year duration.
3. Section 11.a. of the Agreement is modified to provide that in the event the
condition in Section 9.a.(ix) is not satisfied by the time for Closing, then Purchaser may
unilaterally elect to extend the date of Closing until such condition is satisfied.
4. The terms of Section 2 of this Amendment shall survive Closing.
5. Except as hereby modified,the Agreement remains in full force and effect.
Executed as of the day and year written below.
SELLER: PURCHASER:
Collier County Community Re-Development Real Estate Partners International,LLC
Agency
By: l e,� �_ By:
Tim Nance, Chair ,en tarkey EO
Dated: tocV2Sltp Dated: l0//c4/f(p
'
wWI ` Aail
•
. . HTERK,jO
Appro a to I rm and legality
JeffreyAll i ,/ ?X,k i.. - - *
A. Kla ' ow, pep'etyCte�
,County Attorney Attest as to C.hei(lnan'5: '--
signature only.
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