ESTOPPEL CERTIFICATE
ESTOPPEL CERTIFICATE
To: Fremont Investment & Loan
2727 E. Imperial Highway
Brea, California 92821
Loan No.: 950114710
Re: Agreement for Development and Disposition of Property (Station Square Development)
dated February 17, 2004, as modified by First Amendment to Agreement for
Development and Disposition of Property (Station Square Development) dated August
11, 2005 (together, the "Development Agreement") by and between the Community
Redevelopment Agency of the City of Clearwater, Florida, a public body corporate and
politic of the State of Florida created pursuant to Part III, Chapter 163, Florida Statutes
(the "Agency") and Station Square Clearwater Condo, LLC, a Florida limited liability
company as successor to Station Square, LLC ("Developer")
The Agency hereby certifies the following:
1. The Development Agreement is in full force and effect and has not been
amended, modified or supplemented except as set forth above.
2. To the knowledge of the Agency, the Developer is not in default under the
Development Agreement and no event has occurred that with the giving of
notice, passage of time or both would constitute a default or event of default
under the Development Agreement.
3. The Property Option pursuant to paragraph 8.07 of the Development Agreement
has terminated and is of no further force or effect and said Property Option was
not exercised by the Agency.
4. The Agency's agreement to purchase the parking spaces pursuant to paragraph
7.21 of the Development Agreement remains in full force and effect and has not
been terminated by the Agency.
5. In its capacity as Mortgagee, the Agency reviewed and approved the Declaration
of Condominium for the Station Square project.
6. Fremont Investment & Loan may rely on the certifications contained herein.
The undersignEt is duly authorized to execute this Certificate.
Dated this ~ '>- day of October, 2006.
OF
By:
Print Name: Rod Irwin
Its: Executive Director
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