RELEASE OF DEVELOPER'S OBLIGATIONS UNDER HOTEL DENSITY RESERVE DEVELOPMENT AGREEMENTPrepared By and Return to:
BRIAN J. AUNGST, JR., ESQ.
Macfarlane Ferguson & McMullen
Post Office Box 1669
Clearwater, FL 33757
KEN BURKE, CLERK OF COURT
AND COMPTROLLER PINELLAS COUNTY, FL
INST# 2019108298 04/09/2019 09:48 AM
OFF REC BK: 20492 PG: 1095-1097
DocType:REL RECORDING: $27.00
RELEASE OF DEVELOPER'S OBLIGATIONS UNDER
HOTEL DENSITY RESERVE DEVELOPMENT AGREEMENT
This RELEASE OF DEVELOPER'S OBLIGATION UNDER HOTEL
DENSITY RESERVE DEVELOPMENT AGREEMENT, entered into this 7c day of
2018, by and between CITY OF CLEARWATER, FLORIDA, a
mu n cipal corporation, State of Florida, hereinafter referred to as "City", whose
mailing address is: 112 S. Osceola Avenue, Clearwater, FL 33755, and LOUIS
DEVELOPMENT, LLC, Florida limited partnership, its successors and/or assigns,
hereinafter referred to collectively as "Developer", whose mailing address is: Attn: Nicki
Psaltis, 1600 Gulf Blvd., PH1, Clearwater, FL 33767,
WITNESSETH:
WHEREAS, Developer and City entered into that certain Hotel Density Reserve
Development Agreement dated July 27, 2012, recorded in O.R. Book 17666, pages 1833-
1859 (the "Development Agreement"), all in the public records of Pinellas County,
Florida; and
WHEREAS, City agrees to release Developer from any and all obligation under
said Development Agreement; it is
NOW, THEREFORE, for good and valuable considerations, the receipt and
sufficiency of which is hereby acknowledged, as follows:
1. The City acknowledges that the Developer has fulfilled its obligations
under the Development Agreement prior to its assignment to NESC LLC ("Assignee"),
which assignment, pursu t t Section 14.1.2 of the Development Agreement was
provided to the City on S , 2018, and is not in default, and no event has
occurred necessitating the City notifying the Developer of a basis for termination,
pursuant to Section 10 of the Development Agreement.
2. The City does hereby release Developer from all obligations under the
Development Agreement.
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3. Assignee does hereby continue to be obligated under the terms of said
Development Agreement, which Development Agreement remains in full force and effect
and has not been amended, modified or supplemented except as set forth above.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals the
day and year set forth below their signatures.
In the Presence of:
�''2-c..er�ey �1
BY: (...rxxi5P
Elias Anastasopoulos, 7
Print Name 1-zGe/.ec/fr Managing Member
As to "D
LOUIS DEVELOPMENT, LLC,
a Florida limited liability company
Print Name -Ms-0 f rkt v/
As to "Developer"
Approved as to Form
Michael P
Fuino
Attest
Rosemarie Call, City Clerk
As to "City"
, Assistant City
#59950229_v2
LC -
CITY OF CLEARWATER,
FLORIDA
By: (i11:1.X 4ir`-' AADLAA.��-�
William B, Horne, II,
City Manager
STATE OF FLORIDA
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me th•
is 7th day
of
/Chet,c5 , 2018, by ELIAS ANASTASOPOULOS, as Managing Member of
LOLi1S DEVELOPMENT, LLC. He is [ ] personalty known to me or has [ ]
produced as identification.
STATE OF FLORIDA
COUNTY OF PINELLAS
tary Public
Print Name:��
My Commission Expires:
KATHERINE 1 LEDBETTER
Notary Public - State of Florida
Commission # GG 143861
My Comm. Expires Sep 22, 2021
Banded through National Notary Assn.
e f regoing instrument was acknowledged before me this day of
, 2018, by WILL.M B. HORNE, II, as City Manager of the
City of Clearwater, Florida, who is [ ✓✓] personally known to me or who has [ ]
produced as identification.
#59950229_v2
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Al?,-/j-0'..4-)-3-
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Notary Public Print Name: /�i
My Commission Expires: