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Agenda 07/28/2009 Item #16B 5Agenda Item No. 1685 July 28, 2009 Page 1 of 18 EXECUTIVE SUMMARY Recommendation to approve the purchase of 2.27 acres of unimproved property which is required for the construction of a stormwater detention and treatment pond for Phase II of the Vanderbilt Beach Road Extension Project. Project No. 60168, Phase II (Fiscal Impact: $62,837.50) OBJECTIVE: To obtain the Board of County Commissioners' approval to purchase unimproved property which is required for the construction of a stormwater detention and treatment pond associated with Phase II of the Vanderbilt Beach Road Extension Project. (Project # 60168) CONSIDERATIONS: The subject property (the West 150 feet of Tract 75, Unit No. 17, Golden Gate Estates) contains a total of 2.27 unimproved acres and is located on 12th Avenue N.E. The property is currently owned by 3900 West Flagler Street, Inc., a Florida corporation. The property has been identified as a favorable stormwater detention and treatment pond site for Phase II of the Vanderbilt Beach Road Extension Project. On December 4, 2008, a notice was mailed out by Transportation Division staff to 3900 West Flagler Street, Inc., inviting the corporation's principals, to call and discuss the sale of the subject property to the County. In April of 2009, they responded and indicated their willingness to negotiate The sale of this parcel. Using the most recent sales data from the real estate market, the Transportation Division's -- Review Appraiser, Harry Henderson, SRA, prepared an appraisal on April 7, 2009, estimating the current market value of the site to be $50,000 ($22,000 per acre). The owners have agreed to sell the 2.27 acre parcel to the County for $62,500 (equivalent to 25% above the current appraisal value). The attached Purchase Agreement was signed by the owners on June 15, 2009, and the price, at 125% of appraised value, is consistent with the purchasing authority commonly delegated for right -of -way acquisition (i.e., 125% of appraised value or $50,000 over appraised value, whichever is less). Staff believes the following are compelling reasons to purchase the subject property at the negotiated price: 1. The owners are cooperating with staff so there are no attorney or expert fees. 2. This is not a distress sale. The owners can afford to wait for the market to improve. 3. It is not likely that the market value is going to decrease any further at this point; and while most experts believe it could take between 5 and 7 years for the market to fully rebound, if the County waits that long to purchase these pond sites, we are likely going to be paying as much or more for the subject property as the owners are seeking today. 4. Finally, the owners would like to sell the property; and if sold to someone else, it is possible that the new owners would build on it as it is entirely upland property. Vacant property large enough in size to accommodate a stormwater retention and treatment pond is relatively scarce in the subject area, and in fact, the subject property must be assembled with two other unimproved properties located immediately to the west in order for the Agenda Item No. 16135 July 28, 2009 Page 2 of 18 County to be able to construct a pond of the size required to store and treat the volume of stormwater discharge from the roadway in this part of Basin 6. Based on the above criteria, Transportation staff is recommending that the Board of County Commissioners purchase the subject property from 3900 West Flagler Street, Inc. for $62,500. FISCAL IMPACT: The fiscal impact is the purchase price of 562,500.00, plus title insurance in the approximate amount of $287.50, and recording fees not to exceed $50.00. The funds will be paid from gas taxes and /or impact fees. LEGAL CONSIDERATIONS: This item is legally sufficient for Board action. This is a regular item requiring a majority vote. - JBW GROWTH MANAGEMENT IMPACT: This project is consistent with the Long Range Transportation Plan and the Collier County Growth Management Plan. RECOMMENDATION: That the Board of County Commissioners of Collier County: 1. Approve the attached Purchase Agreement and authorize its Chairman to execute same on behalf of the Board; 2. Accept the conveyance of Parcel POND6133 (the West: 150 feet of Tract 75, Golden Gate Estates Unit No. 17) via warranty deed and authorize the County Manager, or his designee, to record same in the public records of Collier County, Florida; 3. Authorize the payment of all costs and expenses necessary to close the transaction; 4. Authorize the County Manager, or his designee, to take the necessary measures to ensure the County's performance in accordance with the terms and conditions of the Agreement; and 5. Approve any and all budget amendments which may be required to carry out the collective will of the Board. Prepared by: Rebecca Harding, Property Acquisition Specialist, Transportation Engineering & Construction Management Attachments: (1) Purchase Agreement; (2) Property Location Map; (3) Appraisal Report Page l of 2 Agenda Item No. 1685 July 28, 2009 Page 3 of 18 file: / /C: \AgendaTest \Export \133- July% 2028, %202009 \16. %2000NSENT %20AGENDA\ 1... 7/22/2009 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: 1685 Item Summary: Recommendation to approve the purchase of 2.27 acres of unimproved property which is required for the construction of a stormwater detention and treatment pond for Phase If of the Vanderbilt Beach Road Extension Project. 'Project No. 60168: Phase II (Fiscal impact: $62.837.50) Meeting Date: 7/28/2009 9:00:00 AM Prepared By Rebecca Harding Property Acquisition Specialist Date Transportation Transportation ECM 6/2512009 1:23:55 PM Approved By Lisa Taylor Management/Budget Analyst Date Transportation Services Transportation Administration 71112009 10:16 AM Approved By Jennifer A. Belpedio Assistant County Attorney Date County Attorney County Attorney Office 71612009 1:38 PM Approved By Gary Putaansuu Principal Project Manager Date Transportation Services Transportation Engineering and 7/6/2009 1:45 PM Construction Approved By Jeff Klatzkow County Attorney Date County Attorney County Attorney Office 717/2009 11:15 AM Approved By Therese Stanley Grants Coordinator Date Transportation Transportation Administration 7/8/2009 12:51 PM Approved By Kevin Hendricks Right Of Way Acquisition Manager Date Transportation Services TECM -ROW 7/8/2009 5:50 PM Approved By Najeh Ahmad Director Date Transportation Services Transportation Engineering & 7/912009 10:39 AM Construction Management Approved By Pat Lehnhard Executive Secretary Date Transportation Services Transportation Services Admin 7/912009 10:44 AM Approved By OMB Coordinator OMB Coordinator Date County Manager's Office Office of Management & Budget 7/9/2009 11:25 AM Approved By file: / /C: \AgendaTest \Export \133- July% 2028, %202009 \16. %2000NSENT %20AGENDA\ 1... 7/22/2009 Page 2 of 2 Agenda Item No. 16135 .July 28, 2009 Page 4 of 18 Susan Usher Senior Management /Budget Analyst Date County Manager's Office Office of Management & Budget 711512009 5:07 PM Approved By Leo EL Ochs, Jr. Deputy County Manager Date Board of County County Manager's Office 7/1612009 4:12 PM Commissioners file: / /C: \AgendaTest \Export\ 133 -July %2028, %202009\ 16. %2000NSENT %20AGENDA \1... 7/22/2009 Agenda Item No. 1 B5 July 28, 2 09 Page 5o 18 PROJECT: VANDERBILT BEACH ROAD EXTENSION PROJECT # 60168 PARCEL: POND6133 FOLIO NO.: 37445180008 PURCHASE AGREEMENT (for Stormwater Detention Pond Site 6B3) THIS PURCHASE AGREEMENT is made and entered into on this day of , 2009, by and between 3900 WEST FLAGLER STREET, INC., a Florida corporation, whose mailing address is 1160 22 °tl Avenue NE, Naples, FL 34120, (hereinafter collectively referred to as "Seller "), and COLLIER COUNTY, a political subdivision of the State of Florida, whose mailing address is 3301 Tamiami Trail East, Naples, Florida 34112, (hereinafter referred to as "Purchaser "). WHEREAS, Seller owns that certain property more particularly described as the West 150 feet of Tract 75, Golden Gate Estates Unit No. 17, according to the plat thereof, as recorded in Plat Book 7, Pages 5 and 6, of the public records of Collier County, Florida, (hereinafter referred to as "Property "); and WHEREAS, Purchaser requires the Property for stormwater detention purposes as part of the Vanderbilt Beach Road Extension Project; and WHEREAS, Seller has agreed to sell and Purchaser has agreed to buy the Property subject to the terms and conditions that follow. NOW THEREFORE, in consideration of these premises, the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged, it is agreed by and between the parties as follows: 1. AGREEMENT In consideration of the purchase price and upon the terms and conditions hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase from Seller the Property, as described above. PURCHASE PRICE The purchase price (the "Purchase Price ") for the Property shall be $62,500.00 (U.S. Currency) payable at time of closing. The Purchase Price shall be subject to the apportionment and distribution of proceeds pursuant to Paragraph 3D of this Agreement. The total payment of $62,500.00 shall be full compensation for the Property conveyed, including all landscaping, trees, shrubs, improvements, and fixtures located thereon, and shall be in full and final settlement of any and all claims against the Purchaser, including all attorneys' fees, expert witness fees and costs as provided for in Chapter 73, Florida Statutes. None of this Purchase Price is attributed to any personal property. 3. CLOSING A. TIME IS OF THE ESSENCE. Therefore, the Closing (THE "CLOSING DATE ", "DATE OF CLOSING ", OR "CLOSING ") of the transaction shall be held on or before one hundred twenty (120) days following execution of this Agreement by the Purchaser. Purchaser shall be entitled to possession as of Closing, unless otherwise provided herein. B. Seller shall convey a marketable title free of any liens, encumbrances, exceptions, or qualifications. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar and in accordance with law. At or prior to Closing, Seller shall provide Purchaser with a copy of any existing prior title insurance policies. At or before the Closing, the Seller shall cause to be delivered to the Purchaser the items specified herein and the following documents and instruments duly executed and acknowledged, in recordable form: 1. General Warranty Deed in favor of Purchaser conveying title to the Property, free and clear of all liens and encumbrances other than: Agenda Item No. 16B5 July 28, 2009 Page 6 of 18 (a) The lien for current taxes and assessments. (b) Such other easements, restrictions or conditions of record. 2. Combined Purchaser - Seller closing statement. 3. A "Grantor's Non - Foreign, Taxpayer Identification & "Gap" Affidavit" as required by Section 1445 of the Internal Revenue Code and as required by the title insurance underwriter in order to insure the "gap" and issue the policy contemplated by the title insurance commitment. 4. A W -9 Form. "Request for Taxpayer Identification and Certification" as required by the Internal Revenue Service. 5. Such evidence of authority and capacity of Seller and its representatives to execute and deliver this Agreement and all other documents required to consummate this transaction, as reasonably determined by Purchaser's counsel and /or title company. C. At the Closing, the Purchaser, or its assignee, shall cause to be delivered to the Seller the following: 1. A negotiable instrument in an amount equal to Net Cash to Seller on the Closing Statement. No funds shall be disbursed to Seller until the Title Company verifies that the state of the title to the Property has not changed adversely since the date of the last endorsement to the commitment, referenced in Section 6 "Requirements and Conditions for Closing" below, and the Title Company is irrevocably committed to pay the Purchase Price to Seller and to issue the Owner's title policy to Purchaser in accordance with the commitment immediately after the recording of the deed. 2. Funds payable to the Seller representing the Purchase Price shall be subject to adjustments and pro- rations as hereinafter set forth. D. Purchaser shall pay all fees to record any curative instruments required to clear title, all Warranty Deed recording fees. and any and all costs and /or fees associated with securing and recording a Release or Subordination of any mortgage, lien or other encumbrance recorded against the Property, provided, however, that any apportionment and distribution of the full compensation amount in Section 2 which may be required by any mortgagee, lien- holder or other encumbrance - holder for the protection of its security interest or as consideration for the execution of any release, subordination or satisfaction, shall be the responsibility of the Seller, and shall be deducted on the Closing Statement from the compensation payable to the Seller per Section 2. E. Seller, at its sole cost and expense, shall pay at Closing all documentary stamp taxes due upon the recording of the General Warranty Deed, in accordance with Chapter 201, Florida Statutes, unless the Property is acquired under threat of condemnation. The cost of a Title Commitment shall be paid by Purchaser along with the cost of an Owner's Form B Title Policy, issued pursuant to the Commitment provided for in Section 6. "Requirements and Conditions" (below). F. Real Property taxes shall be prorated based on the current year's tax and paid by Seller. If Closing occurs at a date upon which the current year's millage is not fixed, taxes will be prorated based upon the prior year's millage. INSPECTIONS A. Inspection Period. Purchaser shall have 60 days from the Effective Date (Inspection Period) to determine through appropriate investigation and inspection that the Property is in compliance with all applicable State and Federal environmental laws and free of any Hazardous Materials. Upon reasonable notice, Seller will provide Purchaser, and its agents, with access to the Property for purposes of surveying, soil borings, site inspection and analysis. B. Election and Response. If Purchaser is not satisfied, for any reason, with the results of this investigation, Purchaser may elect to terminate this Agreement, without penalty, by giving written notice of its intent to terminate prior to expiration of the Inspection Period. Page No 2 Agenda Item No. 16B5 July 28, 2009 Page 7 of 18 Purchaser may elect to suspend its Notice of Termination if Seller notifies Purchaser in writing within ten (10) days thereafter that Seller agrees to promptly carry out, at its sole expense, all further investigations and remediation of the Property as necessary to make the Property acceptable to Purchaser (hereinafter "Remedial Action ") within a time period acceptable to Purchaser. As a condition precedent for suspension of the Notice of Termination, the parties shall agree to the specific term of such suspension and what will render the Property acceptable to Purchaser. C. "Hazardous Materials" means any substance: (1) the presence of which requires investigation, remediation, or is, or becomes regulated under any federal. state, or local law, regulation, order or policy; or (2) which is or becomes defined as a hazardous substance, pollutant or contaminant under federal, state or local law or regulation; or (3) which is toxic, explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise hazardous, or threatens the health or safety of persons on or about the Property, and is being regulated by any governmental authority in the state of Florida. D. If Purchaser does not have the Property inspected, or fails to do so within the Inspection Period, or fails to notify Seller of its intent to terminate, Purchaser shall be deemed to have accepted the Property in the condition it existed on the Effective Date. 5. RISK OF LOSS Seller shall maintain the Property in the condition existing on the Effective Date until Closing or date of Purchaser's possession, whichever is later, except for any Remedial Action agreed to by Seller under Section 4B above. Any future loss and/or damage to the Property between the Effective Date and the Closing or date of Purchaser's possession, whichever is earlier, shall be at Seller's sole risk and expense. REQUIREMENTS AND CONDITIONS FOR CLOSING Upon execution of this Agreement by both parties or at such other time as specified within this Section, Purchaser and /or Seller, as the case may be, shall perform the following within the times stated, which shall be conditions precedent to the Closing: A. Within fifteen (15) days after the date hereof, Purchaser shall obtain as evidence of title an ALTA Commitment for an Owner's Title Insurance Policy (ALTA Form B -1970) covering the Property, together with hard copies of all exceptions shown thereon. Purchaser shall have thirty (30) days, following receipt of the title insurance commitment, to notify Seller in writing of any objection to title other than liens evidencing monetary obligations, if any, which obligations shall be paid at closing. If the title commitment contains exceptions that make the title unmarketable, Purchaser shall deliver to the Seller written notice of its intention to waive the applicable contingencies or to terminate this Agreement. B. If Purchaser shall fail to advise the Seller in writing of any such objections in Seller's title in the manner herein required by this Agreement, the title shall be deemed acceptable. Upon notification of Purchaser's objection to title, Seller shall have thirty (30) days to remedy any defects in order to convey good and marketable title, except for liens or monetary obligations which will be satisfied at Closing. Seller, at its sole expense, shall use its best efforts to make such title good and marketable. In the event Seller is unable to cure said objections within said time period, Purchaser, by providing written notice to Seller within seven (7) days after expiration of said thirty (30) day period, may accept title as it then is, waiving any objection, or may terminate the Agreement. C. Seller agrees to furnish any existing surveys of the Property in Seller's possession to Purchaser within 10 (ten) days of the Effective Date of this Agreement. Purchaser shall have the option, at its own expense, to obtain a current survey of the Property prepared by a surveyor licensed by the State of Florida, No adjustments to the Purchase Price shall be made based upon any change to the total acreage referenced in this Agreement, unless the difference in acreage revealed by survey exceeds 5% of the overall acreage. If the survey provided by Seller or obtained by Purchaser, as certified by a registered Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an improvement located on the Property projects onto lands of others, or (c) lack of legal access to a public roadway, the Purchaser shall notify the Seller in writing, within sixty (60) days from the Effective Date of this Agreement, of such encroachment, projection, or lack of legal access, and Seller shall have the option of curing said encroachment or projection, or Page No. 3 Agenda Item No. 1685 July 28, 2009 Page 8 of 18 obtaining legal access to the Property from a public roadway. Should Seller elect not to or be unable to remove the encroachment, projection, or provide legal access to the property within sixty (60) days, Purchaser may accept the Property as it then is, waiving any objection to the encroachment, or projection, or lack of legal access, or Purchaser may terminate the Agreement, by providing written notice to Seller within seven (7) days after expiration of said sixty (60) day period. A failure by Purchaser to give such written notice of termination within the time period provided herein shall be deemed an election by Purchaser to accept the Property with the encroachment, or projection, or lack of legal access. 7. TERMINATION AND REMEDIES A. If Seller shall have failed to perform any of the covenants and promises contained herein, which are to be performed by Seller, within fifteen (15) days of written notification of such failure, Purchaser may at its option terminate this Agreement by giving written notice of termination to Seller. Purchaser shall have the right to seek and enforce all rights and remedies available at law or in equity to a contract vendee, including the right to seek specific performance of this Agreement. B If the Purchaser has not terminated this Agreement pursuant to any of the provisions authorizing such termination. and Purchaser fails to close the transaction contemplated hereby or otherwise fails to perform any of the terms, covenants and conditions of this Agreement as required on the part of Purchaser to be performed, provided Seller is not in default, then as Seller's sole remedy, Seller shall have the right to terminate and cancel this Agreement by giving written notice thereof to Purchaser, whereupon 5500.00 of the Purchase Price shall be paid to Seller as liquidated damages which shall be Seller's sole and exclusive remedy, and neither party shall have any further liability or obligation to the other except as set forth in Section 10, Real Estate Brokers, hereof. The parties acknowledge and agree that Seller's actual damages in the event of Purchaser's default are uncertain in amount and difficult to ascertain, and that said amount of liquidated damages was reasonably determined by mutual agreement between the parties, and said sum was not intended to be a penalty in nature. C The parties acknowledge that the remedies described herein and in the other provisions of this Agreement provide mutually satisfactory and sufficient remedies to each of the parties, and take into account the peculiar risks and expenses of each of the parties. 8. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES Seller intends for Purchaser to rely on the representations contained in this Section in entering into this Agreement and warrants the following: A. Seller has full right and authority to enter into and to execute this Agreement and to undertake all actions and to perform all tasks required of each hereunder. Seller is not presently the subject of a pending, threatened or contemplated bankruptcy proceeding. B. Seller has full right, power, and authority to own and operate the Property, and to execute, deliver, and perform its obligations under this Agreement and the instruments executed in connection herewith, and to consummate the transaction contemplated hereby. All necessary authorizations and approvals have been obtained authorizing Seller and Purchaser to execute and consummate the transaction contemplated hereby. At Closing, certified copies of such approvals shall be delivered to Purchaser and /or Seller, if requested. C. The warranties set forth in this Article are true on the Effective Date of this Agreement and as of the date of Closing. Purchaser's acceptance of a deed to the said Property shall not be deemed to be full performance and discharge of every agreement and obligation on the part of the Seller to be performed pursuant to the provisions of this Agreement. D. Seller and Purchaser agree to do all things which may be required to give effect to this Agreement immediately as such requirement is made known to them or they are requested to do so, whichever is the earlier. E. Seller represents that it has no knowledge of any actions, suits, claims, proceedings, litigation or investigations pending or threatened against Seller, at law, equity or in Page No 4 Agenda Item No. 16135 July 28, 2009 Page 9 of 18 arbitration before or by any federal, state, municipal or other governmental instrumentality that relate to this agreement or any other property that could, if continued, adversely affect Seller's ability to sell the Property to Purchaser according to the terms of this Agreement. F. No party or person other than Purchaser has any right or option to acquire the Property or any portion thereof. G. Until the date fixed for Closing or as long as this Agreement remains in force and effect. Seller shall not encumber or convey any portion of the Property or any rights therein, nor enter into any agreements granting any person or entity any rights with respect to the Property or any part thereof, without first obtaining the written consent of Purchaser to such conveyance, encumbrance, or agreement which consent may be withheld by Purchaser for any reason whatsoever. H. Seller represents that they have no knowledge that any pollutants are or have been discharged from the Property, directly or indirectly into any body of water. Seller represents the Property has not been used for the production, handling, storage, transportation, manufacture or disposal of Hazardous Materials as defined herein, or any other activity that would have toxic results, and no such Hazardous Materials are currently used in connection with the operation of the Property, and there is no proceeding or inquiry by any authority with respect thereto. Seller represents that they have no knowledge that there is ground water contamination on the Property or potential of ground water contamination from neighboring properties. Seller represents no storage tanks for gasoline or any other Hazardous Materials are or were located on the Property at any time during or prior to Seller's ownership thereof. Seller represents none of the Property has been used as a sanitary landfill. I. Seller has no knowledge that the Property, and /or that Seller's operations concerning the Property, are in violation of any applicable Federal, State or local statute, law or regulation, or of any notice from any governmental body has been served upon Seller claiming any violation of any law, ordinance, code or regulation or requiring or calling attention to the need for any work, repairs, construction, alterations or installation on or in connection with the Property in order to comply with any laws, ordinances, codes " or regulation with which Seller has not complied. J. There are no unrecorded restrictions, easements or rights of way (other than existing zoning regulations) that restrict or affect the use of the Property, and there are no maintenance, construction, advertising, management, leasing, employment, service or other contracts affecting the Property. K. Seller has no knowledge that there are any suits, actions or arbitration, bond issuances or proposals therefore, proposals for public improvement assessments, pay -back agreements, paving agreements, road expansion or improvement agreements, utility moratoriums, use moratoriums, improvement moratoriums, administrative or other proceedings or governmental investigations or requirements, formal or informal, existing or pending or threatened which affects the Property or which adversely affects Seller's ability to perform hereunder; nor is there any other charge or expense upon or related to the Property which has not been disclosed to Purchaser in writing prior to the Effective Date of this Agreement. L. Seller acknowledges and agrees that Purchaser is entering into this Agreement based upon Seller's representations stated herein and on the understanding that Seller will not cause the zoning or physical condition of the Property to change from its existing state on the effective date of this Agreement up to and including the date of Closing. Therefore, Seller aarees not to enter into any contracts or agreements pertaining to or affecting the Property and not to do any act or omit to perform any act which would change the zoning or physical condition of the Property or the governmental ordinances or laws governing same. Seller also agrees to notify Purchaser promptly of any change in the facts contained in the foregoing representations and of any notice or proposed change in the zoning, or any other action or notice, that may be proposed or promulgated by any third parties or any governmental authorities having jurisdiction of the development of the property which may restrict or change any other condition of the Property. M. Seller represents, warrants and agrees to indemnify, reimburse, defend and hold Purchaser harmless from any and all costs (including attorney's fees) asserted against, imposed on or incurred by Purchaser, directly or indirectly, pursuant to or in connection with the application of any federal, state, local or common law relating to pollution or Page No. 5 Agenda Item No. 1685 July 28, 2009 Page 10 of 18 protection of the environment which shall be in accordance with, but not limited to, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9501, et seq., ( "CERCLA" or "Superfund "), which was amended and upgraded by the Superfund Amendment and Reauthorization Act of 1986 ( "SARA "), including any amendments or successor in function to these acts. This provision and the rights of Purchaser, hereunder, shall survive Closing and are not deemed satisfied by conveyance of title. NOTICES Any notice, request, demand, instruction or other communication to be given to either party hereunder shall be in writing sent by facsimile with automated confirmation of receipt, or registered or certified mail, return receipt requested, postage prepaid or personal delivery addressed as follows: If to Purchaser: Transportation Engineering & Construction Management Attn Rebecca Harding Property Acquisition Specialist 2885 South Horseshoe Drive Naples, Florida 34104 Telephone: 239- 252 -5805 Fax: 239 -252 -5885 With a copy to: Assistant County Attorney Office of the County Attorney Harmon Turner Building 3301 Tamiami Trail East Naples, Florida 34112 Telephone 239- 252 -8400 Fax: 239-252-0225 If to Seller: 3900 West Flagler Street, Inc. Attention: Jose A. Coutin 1160 22r'd Avenue NE Naples, FL 34120 Telephone: 239 - 455 -9425 The addressees, addresses and numbers for the purpose of this Section may be changed by either party by giving written notice of such change to the other party in the manner provided herein. For the purpose of changing such addressees, addresses and numbers only, unless and until such written notice is received, the last addressee and respective address stated herein shall be deemed to continue in effect for all purposes. Notice shall be deemed given in compliance with this Section upon receipt of automated fax confirmation or upon on the fifth day after the certified or registered mail has been postmarked, or physical receipt by hand delivery. 10 REAL ESTATE BROKERS Any and all brokerage commissions or fees shall be the sole responsibility of the Seller and shall be paid at Closing. Seller shall indemnify Purchaser from and against any aim or liability for commission or fees to any broker or any other person or party claiming to have been a procuring clause or engaged by Seller as a real estate broker, salesman or representative, in connection with this Agreement. 11. MISCELLANEOUS A. This Agreement may be executed in any manner of counterparts which together shall constitute the agreement of the parties. B. This Agreement and the terms and provisions hereof shall be effective as of the Effective Date and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustee, and assignees whenever the context so requires or admits. C. Any amendment to this Agreement shall not bind any of the parties hereof unless such amendment is in writing and executed and dated by Purchaser and Seller. Any amendment to this Agreement shall be binding upon Purchaser and Seller as soon as it has been executed by both parties. Page No. 6 Agenda Item No. 1685 July 28, 2D09 Page 11 of 18 D. Captions and section headings contained in this Agreement are for convenience and reference only; in no way do they define, describe, extend or limit the scope or intent of this Agreement or any provisions hereof. E. All terms and words used in this Agreement, regardless of the number and gender in which used, shall be deemed to include any other gender or number as the context or the use thereof may require. F. No waiver of any provision of this Agreement shall be effective unless it is in writing signed by the party against whom it is asserted, and any waiver of any provision of this Agreement shall be applicable only to the specific instance to which it is related and shall not be deemed to be a continuing or future waiver as to such provision or a waiver as to any other provision. G. If any date specified in this Agreement falls on a Saturday, Sunday or legal holiday, then the date to which such reference is made shall be extended to the next succeeding business day. H. if the Seller holds the Property in the form of a partnership, limited partnership, corporation, trust or any form of representative capacity whatsoever for others, Seller shall make a written public disclosure, according to s. 286.23, Fla. Stat., under oath, of the name and address of every person having a beneficial interest in the Property before Property held in such capacity is conveyed to Collier County. (If the corporation is registered with the Federal Securities Exchange Commission or registered pursuant to Chapter 517, Florida Statutes, whose stock is for sale to the general public, it is hereby exempt from the provisions of Chapter 286, Florida Statutes.) I. This Agreement is governed and construed in accordance with the laws of the State of Florida. J. The Effective Date of this Agreement will be the date of execution of this Agreement by the last signing party. K. This Agreement and the exhibits attached hereto contain the entire agreement between the parties, and there are no promises, representations, warranties or covenants by or between the parties not included in this Agreement No modification or amendment of this Agreement shall be of any force or effect unless made in writing and executed and dated by both Purchaser and Seller. L. TIME IS OF THE ESSENCE to this Agreement. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written. AS TO PURCHASER: DATED: ATTEST: BOARD OF COUNTY COMMISSIONERS DWIGHT E. BROCK, Clerk COLLIER COUNTY, FLORIDA BY: Deputy Clerk Donna Fiala, Chairman Page No. 7 AS TO SELLER: DATED! 00TNE-S3 (Pril-ted Name) (Printed Name) Approved asm form and legal sufficiency: se0U WEST FLAGLER STREET, INC. Name (Print urType) Assistant County Attorney Agenda Item No. 16135 July 2O.2O0Q Page 12 of 18 Title (Print or Type) Page No. 8 T"r,5a a'�t �'�� r,% 'tiPn�w ac r• r •,. v I�,� t, �y 1 � ayr P ' a o$' ,� � R .� ,. C Viz,, 7 f Ali i T t� Iz .r M NO �A r 9 C Z, 5°;rt,�"4 in fn �• �� r dN s' r °m a t r�:. r %1 ^ro yrA. kt•>st� i Nye n- p' 1 Pro' xi t $� P r r y 7a t Mrr it L" w A ajma ILL $7; ft f$' s.t .� 4+ "r, T ' •r `1F 'T 4ViN'ri,.'v' y +t t Y ray � A �. 1.r r ��" r tiWj,:, sr0 •1'al iy�... ar� � ➢ '. A dpi ��� ��' �� i. .�. 6�'M r �' S a � • +� A e '� r'i v 5 *b 5 ➢.. � ..rryr,ro t':�r ,F "rya "'. 4 Vf ".' *NIVO 332!1 39NIVSO.._' r 4 �+as �✓ ; � � r �+s our .alA + -';•9 { r J., �"}�` k d =n � iV r+ x :x ,y far • a '�,!' w ' .X �'F �^ ,i. t 7 ' � +Y i L 9 t h `. A w t # a °, k` ,➢fit R d +'a ��rF� r t"'ir� h ' A a t» a to fit" }4� t r r r 1r Nil w. x ^i 1, I h f at S Y 4 Vf ".' *NIVO 332!1 39NIVSO.._' r 4 �+as �✓ ; � � r �+s our .alA + -';•9 { r J., �"}�` k d =n � iV r+ x :x ,y far • a '�,!' w ' .X �'F �^ ,i. t 7 ' � +Y i L 9 t h `. A w t # a °, k` ,➢fit R d +'a ��rF� r t"'ir� h ' A a t» a to fit" }4� t r r r 1r Nil w. x ^i 1, :x ,y far • a '�,!' w ' .X �'F �^ ,i. t 7 ' � +Y i L 9 t h `. A w t # a °, k` ,➢fit R d +'a ��rF� r t"'ir� h ' A a t» a to fit" }4� t r r r 1r Nil w. x ^i 1, LAND APPRAISAL REPORT File No. 21200 O. 10B5 X on �ly 2$.2009 File No. 3900 W.FI of 18 Borrower Owner: 3900 West Flagler Strret Inc. Census Tract 112.02 Map Reference S35- T48 -R2 Property Address SIS 12th Avenue NE City Naples County Collier State FL Zip Code 34120 Legal Description Golden Gate Estates Unit 17 W 150ft of Tract 75 _ Sale Price $ N/A Date of Sale N/A Loan Term NIA yrs. Property Rights Appraised X Fee i Leasehold i_, De Minimis PUD Actual Real Estate Taxes $ 1.310.24 (yr) Loan charges to be paid by seller $ N/A Other sales concessions N/A Lender /Client Collier County GovlTransportation Division Address 2885 South Horseshoe Drive Naples FL 34104 Occupant vacant Appraiser Harry Henderson, SRA Instructions to Appraiser Estimate Market Value Folio #37445180008 ILocation L Urban Suburban Rural Built Up �_' Over 75% 25% to 75% ❑ Under 25% Growth Rate [ Fully Dev. ! ^_ Rapid a Steady Slow Property Values [ Increasing [_ Stable Declining Demand /Supply �' Shortage In Balance Z Oversupply Marketing Time [ Under 3 Mos. ❑ 4 -6 Mos. Z Over 6 Mos. Present Land Use 65% 1 Family _% 2 -4 Family % Apts. _% Condo _% Commercial Industrial 35% Vacant Good Avg. Fair Poor Employment Stability ❑ [� ❑ ii Convenience to Employment ❑ Q [I ❑ Convenience to Shopping ❑ [�' ❑ i Convenience to Schools ❑ [Q'. ❑ J Adequacy of Public Transportation [I [ ❑ Recreational Facilities ❑ [ ❑ Adecuacy of Utilities ❑ Z ❑ _% _% Change in Present Land Use ❑ Not Likely ® Likely ( *) Taking Place ( *) ( *) From vacant To single- family Predominant Occupancy Z Owner E- Tenant % Vacant Single Family Price Range $ 90,000 to $ 4DO,000 Predominant Value $ 195,000 Single Family Age New yrs. to 30 yrs. Predominant Age 10 yrs. Property Compatibility J Protection from Detrimental Conditions ❑ '_. Police and Fire Protection General Appearance of Properties Appeal to Market ❑ li' noise):The subject is located in the central part of Comments including those factors, favorable or unfavorable, affecting marketability (e.g public parks. schools, view, sorawlin pre-platted subdivision consisting of unincorporated Collier County in the Golden Gate Estates area Golden Gate Estates is a single-family homesites 1.14 to 5 acres typically) in a semi -rural setting. Essential services are within a 35 minute drive. Maintenance levels in the area are mostly average. Dimensions 150 x 660 = 2.27 Sc. Ft. or Acres _I Corner Lot Zoning classification Estates (2.25 acre conforming lot size min j Present Improvements El do `- do not conform to zoning regulations Highest and best use I Present use Other usidecill subject is improved with a single-family dwelling, im rovments not included in appraisal Public Other (Describe) OFF SITE IMPROVEMENTS Topc Level Elec. 1 Street Access E7 Public _ Private I Size Compatible with area lacreacie-type Gas Surface Macadam Shape Rectangular Water [ well Maimenance L-E Public Private jView Natural San. Sewer septic _j Storm Sewer _Curb / Gutte Drainage Appears to be adequate [_ Underground Elect. &Tel. Sidewalk Street Ughis lathe property located in a HUD Identified Special Flood Hazard Area? QI No [ Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions! Zone D. Comm #120067 250G, did 11 /17105 No adverse conditions observed. Typical roadway and perimeter utility easments are extant. The undersigned has recited three recent sales o' propehes most similar aid proximate to subject and has considered tnese in the market analysis. The descnption includes a dollar adjustment reflecting market reaction to those items of sgnrficanl variation between true subject and comparable properties. If a significant item in the comparable property is superior to or more favorable than the subject property, a minus ( -1 adjustment is made thus reducing the indicated value of subject: it a significant item in the comparable is interior to or less favorable than the subject property, a plus ( +) adjustment is made thus increasing the indicated value of the subject. ITEM SUBJECT PROPERTY COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address SIS 12th Avenue NE S/S 47th Avenue NE EIS Street SE N/S 41st Avenue NW Naples, FL 34120 Naples, FL 34120 Naples, FL 34120 Na pies, FL 34120 Proximi to Subject 4.80 miles NE 2.61 miles NW 4.36 miles NW Safes Price $ N/A $ 21,930/ac $ 14640/ac $ 21,930/ac Price Gross $ $ 25.000 36,600 $ 25,000 Data Source MLS #208007531 MLS #207032985 MLS #207027015 Date of Sale and DESCRIPTION DESCRIPTION + (-)$ Adjust. DESCRIPTION +'- $ Adjust DESCRIPTION + - TimeAdlustment N/A 8./08 Nominal 7108 Nominal 9108 Nominal Location GGE Similar Similar Similar • St iew 2.27 acres 1.14 acres in $1ac 2.50 acres in $lac 1.14 acres in $ /ac To ra h POQ Level /natural LevelJnatural Level /natural Level /natural Zoning Estates Estates Estates Estates Sales or Financing N/A Cash or Equiv_ Cash or Equiv. Cash or Equiv. Concessions Net Ad. otall _ + $ r + _ $ Indicated Value of Subject $ 21.930 $ a.640 $ 21,930 Comments on Market Data: All sales involve GGE lands located in the general vicinity of the subject. The sales are compared on a $ /acre unit price basis negating the need for size adjustments. The very u2per end of the price range is given most weight in consideration of the thinly traded nature of this market at this time. $22.000 /acre rounded is selected as the applicable uniUprice $lac for the take area. Comments and Conditions of Appraisal: 2.27 acres x $22 0o01acre = $50,000 (rounded) Final Reconciliation: See Attached Limiting Conditions 1 ESTIMATE THE MARKET VALUE, AS DEFINED. OF SUBJECT PROPERTY AS OF April 7, 2009 to he $ 50,000 Harry Henderson, SRA [ Did ❑ Did Not Physically Inspect Properly Appraiser(s) Review Appraiser pt applicable) IY2K] Collier County Government Form -ND — "WinTOTAL' appraisal software by a is mode, inc — 1 -800-ALAMODE Location Map File No 390� o W. Fllaaler1Wf Ido 1685 July 28, 2009 BorrowuOulierd Owner: 3900 West Hagler Strret, Inc. 15 Of 18 Property Address SIS 12th Avenue NE City Naples 01)[Inty Collier State FL Zip Code 34120 Lender Collier County GovlTrans ortation Division Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1.800- ALAMODE _ -, _ . Mnnxu.t' MapPoint` Ltrnpkin Rdtmmokake,.0.d 72nd Ave NE " . -. ..... - - - 70th Ave NE i - Platt Rd`s _ 68th Ave NE - _ .. - Mid Turk gy Dr .. ....._ - 66th Ave NE �... 64h Ave ME _62nd Ave NE.. _ ... 60th Ave NE _ 58th Ave. NE.. -. _..- ..... __. 1 _ 5611h Ave NE .. .. I: 54th Ave NE T. h B LI' E. y e Y. C 1 8 , 3 ...52nd Ave NE . 50th Aye Ave NE; 47th Ave W 48th Ave NE .. ...w 4 ....47th me NE ::- � 45th Ave t✓F �, '".. m m m � ' �.. if a m Shady Hollow Blvd W B:: !� .. C , 45th NE 1... ".�, 43r Ave, NE .. .. .. 4131 Ave WY 41st Ave NE I S w a -m p .,.. . _�. ..:_. 41 ve NE -.. . -.. . ,. 39th Ave NW . .. j#k9 th Ave NE ii ,. .. 3. 37th Ave NW _ _ . _ - . f ¢ - - -35th Ave NW' - " 136 Iniles Nw 3— Twlnea91- 33rd Ave NW - 33rd Ave NE- - _.. Golf and: country Club -, s _. a. SY_, Park __. _. _ _.... ,i...,.... _.. Ave NE z a a ( m a p�Valencia `* 31st .. _. .. a Golf Cour se 29th Ave ME ... Bonita Bay East 27th Ave. NE Tag .. 25th ANE Randal ... R 24th Ave NW 8 24th Ave Ave NE 24th Ave NE B 22nd. Ave NW o.' 22nd Ave ME ° ,. ..;. �: -22nd Ave NE '22nd Ave NE-. n .. _ 20th Ave NW 20th Ave ME _. 20th Ave NF. -. .. 18th -Ave -N 18th Ave NE - .._ ._ vd E - Jung Blvd E,. Mingo Dr .loth Ave NW -'36th Ave NE - 16th Ave nE - Shady 1-n 14th, Ave N" 14th Ave ME 14th Ave ME 14th Ave NE . 12th Ave NW ' _._ .._ 12th Ave NE_.. '.. 121h Ave NE " 12th Ave ME` nldc Florida. Golf Gub _ .10th Ave NW 10th Ave NE _ 10th Ave NE - 10th Ave NE _ - o a d a Q. -a `m Bth Ave NE ... m 6th Ave NE m s 4th Ave ME 2nd Ave NE Gate Blvd W - Golden Gate. Blvd 44 V g= A � � Golden Gate Blvd E Golden Gate Blvd E Golden Gate Blvd E Olden .gT, � a - � � 2nd Ave SE - . � m 4th Ave SE 4 14 50 61h Ave SE'.. c.._.— _.. _. m ''.. :. ,, .. .. ..... _::. ..._.. .m 811h Ave SE ;. .. 10th .Ave SE. ,..... So 121h Ave SE Scale fill q —16th Ave St m20a9 MiepseRC X008 NA1'lE0, m1 MINl Atlif.lnc. Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1.800- ALAMODE -- : � : � a� §y \� w � � � �. / \� . . . - - . \ \� � � /.\ - - \y« » y 2 w§» � . . \� . : ... \ / ® \< ?' R ° � //� �_ � d < \� < \ ^ ^� � ` . :y >. . 2 »«� \© d \ \° \ � «..� �� »,2 a :. \yam \� \ \ � ,. y� /�\ \ ^t ?�a. \. » 2� � . +� - .§ �. ,., �\ . . :\} . 2 � ) � . . 2 d ©�� \\ / �� . � .\ � �«� \�« » ^� « ~^ ����^ « c «\. « a . � � ©: . , . a 6 s� ? + « 2r :�, � .< /%� � \� /\�.] \ \� \� � � .�/ : »« » : %y§ ? \ » /� � \ \/ \�� � \yam � \ \\ File No. 3200 W.FIaaler,Faae #411 a. 16135 July 28, 2009 Page 17 of 18 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passim of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well Informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. ' Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, tmdc substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender /client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; coosuRards; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender /client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6 -93 Page 1 of 2 Fannie Mae Form 1004B 6 -93 Collier County Government Form ACR — "WinTOTAL" appraisal software by a la mode, Inc, —1- 800- ALAMODE (File No. 3Aa0 W- Flaalerl Pade_# •0 1685 July 28, 2009 Page 18 of 18 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that 1. 1 have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adiusied sales price of the comparable and, If a significant item in a comparable property is interior to, or less favorable than the subject property. I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. 1 have taken into consideration the factors that have an impact on value In my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal repor, are true and correct. 3. 1 stated in the appraisal repor only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and lire ling conditions specified in this form. 4 1 have no present or prospective interest in the property that is the subject to this report , and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and /or the estimate of market value in the appraisal report on the race, color, religion, sex. handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. 1 have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property . 6. 1 was not required to report a predetermined vaiue or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and /or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7 1 performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted arm promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of tnis appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable lime to, exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing lime noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. 1 have personally inspected the interior anc exterior areas of the subject property and the exterior of all properties listed as comparabtes in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. 1 have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant protessional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal repod. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report, therefore, it an unauthorized change is made to the appraisal report, I will take no responsibility for 1, SUPERVISORY APPRAISER'S CERTIFICATION: II a supervisory appraiser signed the appraisal report, he or she certifies and agrees that I directly supervise the appraiser who prepared the appraisal report. have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking lull responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: S/S 12th Avenue NE Naples FL 34120 APPRAISER: SUPERVISORY APPRAISER (only if required): Signature: Signature: Name: Harry Henderson,SRA Name. Date Signed April 7 2009 Date Signed. State Certification # RD3475 State Certification #: or State License #: or State License #. State: FL State: Expiration Date of Certification or License. 11/30/10 Expiration Date of Certification or License. [_l Did Did Not Inspect Property Freddie Mac Form 439 6 -93 Page 2 of 2 Fannie Mae Form 10048 6 -93 Form ACE — 'WinTOTAL' appraisal software by a la mode, Inc. — 1- 800 - ALAMODE