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MAINTENANCE AGREEMENTMAINTENANCE AGREEMENT This Agreement is made and entered into as of the 13th day of March 2009, by and between Station Square Clearwater Condo, LLC ("Condo"), Station Square Condominium Association, Inc. ("Association"), and the City of Clearwater, Florida ("City"), WHEREAS, Condo is the developer and seller of condominium units contained in Station Square Condominiums, located in Clearwater, Pinellas County, Florida; and WHEREAS, Station Square Condominium consists of residential condominiums, retail condominiums and a parking condominium unit, together with ninety-nine (99) limited common elements appurtenant to the parking unit, which parking unit and limited common elements consist of one hundred (100) public parking spaces (collectively the "Parking Spaces"); and WHEREAS, the City is the purchaser/owner of the Parking Spaces, pursuant to a Contract for Purchase and Sale between Condo and the City; and WHEREAS, the Parking Spaces are contained on the first two levels of the parking garage contained within Station Square Condominiums (as reflected in the plot plan of the Declaration of Condominium of Station Square Condominiums); and WHEREAS, the parties desire to clarify the maintenance responsibilities of the City and the Association as they relate to the one parking condominium unit owned by the City and the 99 limited common elements appurtenant thereto. Now; therefore, in consideration of the mutual promises and covenants hereinafter contained, the parties agree as follows. 1. Recitals. The recitals contained hereinabove are true and accurate and are incorporated herein as if fully set forth herein. 2. Maintenance Responsibilities and Budget. Supplemental to the maintenance responsibilities as provided for in the Declaration of Condominium, as amended, the maintenance responsibilities of the City and the Association for the one parking condominium unit, the 99 limited common elements related thereto and the City's portion of maintenance of the general common elements of the condominium shall be as provided for by the terms of this Agreement. The parties agree that for the first calendar year of operation, i.e., from January 1, 2009 or date the City takes title to the Parking Spaces, whichever is later, through December 31, 2009 shall be as follows: a. In addition to maintenance of the common elements as set forth in Exhibit "A", attached hereto and incorporated herein, the Association shall be responsible for all of the general maintenance associated with the one parking unit and the 99 limited common elements appurtenant thereto (the "Parking Spaces") including utilities, electrical systems, fire prevention and monitoring, ventilation, stairwell doors and hardware, elevators maintenance, generator systems, and daily maintenance as more particularly described in Exhibit "B" attached hereto and incorporated herein. b. Within the Parking Spaces, the City shall be responsible for public parking/directional signage and markings, upkeep and maintenance of Pay Stations, ballards, directional mirrors and re-striping of the parking spaces, if necessary. Additionally, the City shall pay for electrical service to its Pay Stations. c. The City's obligation for its share of the common expenses associated with maintenance of the common elements and limited common elements as provided for above, shall be as set forth on the budget attached hereto as Exhibit "A". d. The Association budget may be amended at the annual meeting of the Association or any special meeting called for the purpose of amending the budget, upon proper notice to all condominium unit owners. 3. Binding Effect. This agreement shall be binding upon the parties, their successors and assigns. 4. Counterparts. This document may be signed in counterparts. [The remainder of this page intentionally left blank.] STATION SQUARE CLEARWATER CONDO, LLC, a Florida limited liability company By: A Ye kel Frankel, Manager CITY OF CLEARWATER, FLORIDA Attest: By: William B. Horne II, City STATION SQUARE CONDOMINIUM ASSOCIATION, INC a Florida corporation By: Menashe Frankel, President a/k/a Mark Frankel 0.4 1?' - E '& IA- Cyn is E. Goudeau City lerk?- Manager Appr ved As To Form: Laura L. Mahon Assistant y Attorney STATE OF FLORIDDA: COUNTY OF PINELLAS: The foregoing instrument was acknowledged before me this (a` day of 2009, by Yeheskel Frankel, Manager, of Station Square Clearwater, LLC, a Florida limited liability company, on behalf of the company, who is personally known to me or (?[) who produced as identification. toggles ... ......... H A N I E A. H.....ALL..............? STEP rp'" Commp DD0421350 NO ubllc Fxpima 4 21`200° My commission expires: f......;i.....w.....fl°':° :...NO:'.i..Ajj?Nq j (SEAL) STATION SQUARE CLEARWATER CONDO, LLC, a Florida limited liability company By: Yeheskel Frankel, Manager CITY OF CLEARWATER, FLORIDA By: Earl Barrett, RealNst4,te Services Coordinator STATE OF FLORIDA: COUNTY OF PINELLAS: STATION SQUARE CONDOMINIUM ASSOCIATION, INC a Florida corporation By: Menashe Frankel, President a/k/a Mark Frankel The foregoing instrument was acknowledged before me this day of , 2009, by Yeheskel Frankel, Manager, of Station Square Clearwater, LLC, a Florida limited liability company, on behalf of the company, who is personally known to me or ( ) who produccd as identification. Notary Public My commission expires: (SEAL) 1?P,W STATE OF COUNTY OF RBMEEAS: UJQ1 rI L? The foregoing instrument was acknowledged before me this day of wdcov-\ , 2009, by Menashe Frankel, President of Station Square Condominium Association, Inc., a Florida corporation, on behalf of the corporation, who is personally known to me or ( ) who produced ' CHANA B GLEIBERMAN m,nission # 2378778 `utiic, State of New Jersey y Commission Expires i%'ovember 07, 2013 STATE OF FLORIDA: COUNTY OF PINELLAS: as identifi ion. I Not ublic My commission expires: (SEAL) CHANA B GLEIBERMAN Commission # 2379778 Notary Public, State of New Jersey MY Commission Expires November 07, 2013 The foregoing instrument was acknowledged before me this 13 th day of March , 2009, by W.illiam..B Horne., 11., City Manager . Of the City of Clearwater, Florida, on behalf of the City, (g) who is personally known to me or ( ) who produced as identification. (3 ?k ?- ?. Notary Public atalina efft My commission expires: 04/18/2010 (SEAL) Notary Public State of FWida ?_. ? F Catalina M Tefft My Comrnissim DDS28028 E i 0 / 1 J a xp res 4 1 8 2010 STATION SQUARE CONDOMINIUM ASSOCIATION PROPOSED ANNUAL BUDGET ANNUAL EXPENSES PARKING TOTAL Maintenance & Repair $19,200 General Maintenance $20,280 Building Cleaning $9,960 Window Cleaning $1,200 Booster Pumps $494 $4,200 Grounds Maintenance $212 $1,800 Generator .$7,204 Pool $900 Exercise Equipment 200 $1 $1, Exterminating 200 $ Elevator Maintenance - Tower 800 Elevator Maintenance - Retail/Parking $2,400 $800 Fire Alarm Monitoring $106 740 $40 Maintenance Salaries $4,793 , $12 000 Fire Equipment $1,412 , $2 400 Security Equipment $282 ' $145 960 Total Maintenance & Repair $9,700 , Utilities $4 518 $38,400 .Electricity , $54,000 Water/Sewer 412 `51 $12,000 Trash , $353 $,000 Telephone $99,600 Pool Gas $26 112 Cable TV $6 283 $143,112 Tetal Utilities , Administrative $106 $900 Legal & Accounting $0 Financial Report Miscellaneous Administrative $1,059 $ Fees Payable to Division $61 $516 $516 980 $136 Insurance $16,117 , $600 Fees, Licenses & Permits $71 760 $20 Management Fee $2,443 , Total Administrative $19,856 $16 TOTAL OPERATING EXPENSE $35,838 $467,848 Exhibit "A", page 1/2 RESERVES Painting Roo ing Paving Security Equipment Pool Fitness Equipment Booster Pump Generator FurniturelFixtures Elevators - Tower Elevators - Retail/Parking HVAG Fire Safety Systems TOTAL RESERVES EXPENSE ANNUAL TOTAL OPERATING & DESERVE $2,420 $20,568 $959 $8,148 $0 $627 $5,328 $3,46'8 $672 $2,004 $236 $2„004 $8,196 $2,400 $600 .$1,200 $8,2.68 $490 $4,164 $6,331 $66,420 $41,170 $524,268 Exhibit "A", page 2/2 Exhibit "B" Station Square Condominium Association General Maintenance Responsibilities • Utilities: Electric, Water, Sewer, Garbage and Telephone Maintenance: Replacement of lamps or bulbs Replacement or repair of electrical fixtures Replacement or repair of the general electrical system Replacement or repair of fire extinguishers Replacement or repair of the fire standpipe / alarm monitoring system Replacement or repair of the ventilation system Replacement or repair of stairwell doors and hardware Replacement or repair of elevator service / routine preventive maintenance Replacement or repair of generator system/service Routine Vacuum / Power sweeping - as needed Routine Power / Pressure washing - as needed Daily Maintenance: Sweeping and general maintenance of trash and debris in garage and all stairwells. Cleaning elevator cab and foyer areas Empty / clean trash receptacles to be installed by developer