MEMORANDUM OF AGREEMENT FOR DEVELOPMENT AND PURCHASE AND SALE OF PROPERTYMEMORANDUM OF AGREEMENT
FOR DEVELOPMENT AND PURCHASE AND SALE OF PROPERTY
This Memorandum of Agreement for Development and Purchase and Sale of Property
( "Memorandum ") is made this 1(o day of June, 2014, by and between the
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER,
FLORIDA, a public body corporate and politic of the State of Florida (the "Agency "),
whose address is 112 S. Osceola Avenue, Clearwater, FL 33756, and PROSPECT
PARK DEVELOPMENT LLC, a Florida limited liability company, whose address is 477
Commerce Way, Suite 115, Longwood, Florida 32750.
This Memorandum pertains to an Agreement for Development and Purchase and
Sale of Property, by and between the Agency and the Developer, dated as of June 110
2014, (the "Development Agreement "), which provides, among other things, for the sale of
property within a project site as described in Exhibit "A" attached hereto and made a part
hereof for the development and construction of the Project, as same is defined in the
Development Agreement.
The Development Agreement is incorporated herein and made a part hereof by
reference as fully as though it were set forth herein in its entirety. It is the intention of the
parties to hereby ratify, approve and confirm the Development Agreement as a matter of
public notice and record. Nothing herein shall in any way affect or modify the
Development Agreement, nor shall the provisions of this Memorandum be used to
interpret the Development Agreement. In the event of conflict between the terms of this
document and those contained in the Development Agreement, the terms in the
Development Agreement shall control.
A copy of the fully- executed Development Agreement is on file with the City
Clerk, City of Clearwater, Florida, located at City Hall, 112 S. Osceola Avenue,
Clearwater, Florida, which is available for review and copying by the public.
IN WITNESS WHEREOF, the parties hereto have set their hands and
their respective seals affixed as of the 1 to day of June, 2014.
[SIGNATURE PAGE FOLLOWS]
KEN BURKE, CLERK OF COURT
AND COMPTROLLER PINELLAS COUNTY, FL
INST# 2014174247 06/19/2014 at 08:46 AM
OFF ype AGM RECORDING: $27
DocTp : .00
Memorandum of Agreement - Prospect Park Developement
ST:
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF CLEARWATER
By:
..0 edr�Q r\c r c\.9s
Exec tive Director Chairman
STATE OF FLORIDA
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me this'Ce1 day of June, 2014,
by rc .
NI.Cpitricn, as Chairman, and ROD IRWIN, as the Executive Director of the
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, a body politic
and corporate, on behalf of said entity. Such persons are personally known to me or presented
as identification.
.t$F3 , AnneMarie Wills
i ,:. '_COMMISSION #EE843159
15.* - EXPIRES: NOV. 24, 2016
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tate of Florida
PROSPECT PARK DEVELOPMENT, LLC
a Florida limited liability company
By: FDG - Prospect Park Development,
LLC
a Florida limited iability company
its Operati A.sogn er
,
By:
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STATE OF FLORIDA
COUNTY OF19tIlEtr T 1 1 tkk baal �� k
P4 The fore�Qing instrument was acknowledged before me this `1 day of June, 2014,
by QV h . L'0A l 11'1C , as l�(lnGiG e of FDG -
Prospect Real Estate Group, LLC, the Operating Manager of Prospect Park Development, LLC,
a Florida limited liability company, on behalf of the company. He is personally known to me of
presented a
SARA t DELANEY
Votary Public - Mate of FIOd ds
My Comm. Expires Jun 5, 2017
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gentled Through National Notary Ass
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EXHIBIT A
BEGINNING AT THE SOUTHEAST CORNER OF LOT 11, BLOCK 2, MAGNOLIA
PARK SUBDIVISION, AS RECORDED IN PLAT BOOK 3, PAGE 43 PUBLIC
RECORDS OF PINELLAS COUNTY, FLORIDA, SAID POINT ALSO BEING ON THE
BOUNDARY LINE OF MEDITERRANEAN VILLAGE IN THE PARK SUBDIVISION AS
RECORDED IN PLAT BOOK 125, PAGES 44 THROUGH 46, PUBLIC RECORDS OF
PINELLAS COUNTY, FLORIDA, THENCE ALONG THE BOUNDARY LINE OF SAID
MEDITERRANEAN VILLAGE IN THE PARK, THE FOLLOWING THREE COURSES:
SOUTH 00 °02'16" WEST, 8.16 FEET; THENCE NORTH 89 °57'44" WEST, 21.42 FEET;
THENCE SOUTH 00 °17'21" WEST, 52.12 FEET TO A POINT ON THE SOUTH RIGHT
OF WAY LINE OF PARK STREET; THENCE LEAVING THE SAID BOUNDARY LINE
OF MEDITERRANEAN VILLAGE IN THE PARK AND ALONG THE SAID SOUTH
RIGHT OF WAY LINE OF PARK STREET, SOUTH 89 °39'49" EAST 288.90 FEET TO
A POINT ON THE WEST RIGHT OF WAY LINE OF SOUTH MARTIN LUTHER KING,
JR. AVENUE; THENCE LEAVING THE SAID SOUTH RIGHT OF WAY LINE OF PARK
STREET AND ALONG THE SAID WEST RIGHT OF WAY LINE OF SOUTH MARTIN
LUTHER KING, JR. AVENUE, SOUTH 00 °04'00" WEST 264.88 FEET TO A POINT ON
THE NORTH RIGHT OF WAY LINE OF PIERCE STREET; THENCE LEAVING THE
SAID WEST RIGHT OF WAY LINE OF SOUTH MARTIN LUTHER KING, JR. AVENUE
AND ALONG THE SAID NORTH RIGHT OF WAY LINE OF PIERCE STREET AND
THE EXTENSION THEREOF, NORTH 89 °39'04" WEST 386.83 FEET; THENCE
LEAVING THE SAID EXTENSION OF THE NORTH RIGHT OF WAY LINE OF PIERCE
STREET, NORTH 05 °34'56" WEST 61.39 FEET; THENCE NORTH 15 °56'32" WEST,
122.03 FEET; THENCE NORTH 29 °12'41" WEST, 115.70 FEET; THENCE NORTH
53 °04'15" WEST, 52.08 FEET; THENCE NORTH 89 °54'47" WEST, 252.52 FEET TO A
POINT ON THE EAST RIGHT OF WAY LINE OF SOUTH PROSPECT AVENUE;
THENCE ALONG THE SAID EAST RIGHT OF WAY LINE OF SOUTH PROSPECT
AVENUE, NORTH 00 °05'13" EAST, 251.17 FEET TO A POINT ON THE SOUTH
RIGHT OF WAY LINE OF CLEVELAND STREET, SAID POINT BEING THE
NORTHWEST CORNER OF TRACT 2 OF SAID MEDITERRANEAN VILLAGE IN THE
PARK; THENCE LEAVING THE SAID EAST RIGHT OF WAY LINE OF SOUTH
PROSPECT AVENUE, ALONG THE SAID SOUTH RIGHT OF WAY LINE OF
CLEVELAND STREET, SOUTH 89 °41'20" EAST, 647.02 FEET TO A POINT ON THE
WEST LINE OF THE EAST 50 FEET OF BLOCK 5, MRS. SARAH MCMULLEN'S
SUBDIVISION, AS RECORDED IN PLAT BOOK 1, PAGE 41, PUBLIC RECORDS OF
PINELLAS COUNTY, FLORIDA; THENCE LEAVING THE SAID SOUTH RIGHT OF
WAY LINE OF CLEVELAND STREET, ALONG THE SAID WEST BOUNDARY LINE
OF THE EAST 50 FEET OF BLOCK 5, SOUTH 00 °03'59" WEST, 235.00 FEET TO A
POINT ON THE NORTH RIGHT OF WAY LINE OF PARK STREET; THENCE
LEAVING THE SAID WEST BOUNDARY LINE OF THE EAST 50 FEET OF BLOCK 5,
ALONG THE SAID NORTH RIGHT OF WAY LINE OF PARK STREET, NORTH
89 °41'20" WEST, 137.10 FEET TO THE POINT OF BEGINNING. CONTAINING
279,998 SQUARE FEET (6.428 ACRES) MORE OR LESS.