C.I.M.H.Z. MANAGEMENT LLCREAL PROPERTY TRANSFER AGREEMENT
r,d THIS REAL PROPERTY TRANSFER AGREEMENT (this "Agreement") is made on this
9 day of L * eY , 2025, by and between the City of Clearwater, Florida, a Florida
municipal corporation (the "City"), whose address is 600 Cleveland Street, Suite 600, Clearwater,
FL 33755, and C.I.M.H.Z Management LLC, a Florida limited liability company ("Buyer"), whose
address is 6465 142nd Ave. N., Apt. Z204 Clearwater, FL 33760 (collectively, the City and Buyer
are the "Parties").
RECITALS:
WHEREAS, the City is the owner of a parcel of real property located at 1164 La Salle
Street, Clearwater, FL 33755 (the "Property"); and
WHEREAS, Buyer wishes to acquire the Property for the construction of an affordable
single-family home for a qualified family as determined by the City, and the City desires to sell
the Property to Buyer for an amount that is less than the appraised value as permitted under Section
2.01(d)(5)(i) of the City of Clearwater City Charter, subject to certain terms and conditions; and
WHEREAS, the City of Clearwater City Council has determined that the sale of the
Property is in the public interest being that it promotes the creation of affordable housing in the
City; and
WHEREAS, the Parties desire to memorialize their agreement to transfer the Property for
the construction of an affordable single-family home.
NOW THEREFORE, in consideration of the mutual covenants herein contained, and the
mutual benefits to be derived hereunder, the receipt and sufficiency of which is hereby
acknowledged, the Parties agree as follows:
1. The recitals set forth above are true and correct and are incorporated herein by reference.
2. This Agreement describes the respective responsibilities of each party in providing for the
transfer of the Property for the purpose of constructing a single-family home to be used for
affordable housing.
3. The Property is legally described as follows:
Lots 65 and 66, Block "E", Greenwood Park No. 2, according to the
map or plat thereof as recorded in Plat Book 8, Page 16 of the Public
Records of Pinellas County, Florida.
Parcel Number: 10/29/15/33552/005/0650
4. The Parties agree the value of the Property is Sixty -Seven Thousand Eight Hundred Six
Dollars and 00/100 Cents ($67,806.00) and that per this Agreement, the Property will be
transferred to Buyer for the development of affordable housing.
5. The City agrees to convey and transfer to Buyer, all of the City's right, title, and interest in
and to the Property subject to the terms, conditions, and provisions herein in return for a
sale price of Zero Dollars and 00/100 Cents ($0.00). The transfer of the Property
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contemplated by this Agreement shall be conveyed by quit claim deed without warranty
(the "Deed"). The Deed shall contain a reverter clause providing that in the event Buyer
does not comply the timeframe requirements specified in Paragraph 10 below, Buyer shall
forthwith, upon the request of the City, reconvey the Property to the City via Special
Warranty Deed. The City makes no warranties as to the Property's marketability, and
transfers the Property in "as -is, where -is, with all faults" condition. This provision shall
survive the termination or expiration of this Agreement irrespective of any executed deed
for the sale of the Property.
6. Buyer shall have at its own expense, the right to conduct inspections and determine
feasibility of accepting the transfer of the Property. For purposes of physical inspection of
the Property, the City grants Buyer, its agents and professionals engaged by such parties,
the right to enter upon the Property. Buyer shall not perform any inspections or tests
requiring invasive methods without prior written consent of the City and shall hold the City
harmless and indemnify the City for any liability resulting from Buyer's entry to the
Property.
7. The Parties agree that the closing and settlement of this transaction shall be conducted
exclusively by Somers Title Company, Clearwater, Florida (the "Settlement Agent").
All settlement services including but not limited to preparation of the closing statement,
disbursement of funds, and recording of documents shall be performed by the Settlement
Agent.
8. Buyer will pay all closing costs associated with the transfer of the Property, including but
not limited to settlement fees, title insurance, appraisal fees, taxes, and recording fees.
9. Buyer shall purchase title insurance at its own expense. Any matters set forth in the title
commitment, including any defects, or liens and encumbrances, shall be the responsibility
of Buyer to cure or accept as exceptions to the title policy.
10. The Property must be used by Buyer for the sole purpose of constructing a single-family
home to be sold or leased to a household whose total household income does not exceed
one hundred twenty percent (120%) of Area Median Income, adjusted for household size,
as published by the United States Department of Housing and Urban Development for
Pinellas County. Buyer agrees to: 1.) commence construction of the single-family home
on the Property within six (6) months of the date of the Deed, 2.) to complete construction
of the single-family home within twelve (12) months of the date of the Deed, and 3.) to
convey or lease the Property to an income qualified purchaser or tenant within eighteen
(18) months of the date of the Deed. If Buyer needs an extension of these timeframes, it
shall notify the City in writing as soon as possible, and the City of Clearwater City Manager
or their designee shall have the unilateral discretion to extend the above timeframes as they
deem appropriate.
11. As a condition of transfer of the Property, Buyer shall at time of closing execute and cause
to be recorded in the Official Records of Pinellas County, Florida, a Declaration of
Restrictive Covenants (the "Declaration") in a form approved by the City. The Declaration
shall run with the land and be binding upon Buyer, its successors and assigns, for a period
beginning on the date of recording and ending fifteen (15) years after initial sale or leasing
to an income qualified household. The Declaration shall restrict the use of the Property to
a single-family residence to be sold or leased to households whose income does not exceed
one hundred twenty percent (120%) of Area Median Income, adjusted for household size,
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as published annually by the United States Department of Housing and Urban
Development for Pinellas County, Florida.
12. Whenever this Agreement requires or permits any consent, notice, request, or demand from
one party to the other (collectively "Notice"), such Notice must be in writing and shall be
delivered either by hand delivery or by U.S. certified mail. Notice shall be effective as of
the date of actual delivery or, if delivery is refused by the receiving party, the date on which
such delivery was attempted. Each party's initial address for delivery of any Notice is
designated below, but any party from time to time may designate a different address for
delivery of any Notice by delivering to the other party Notice of such different address:
If to City: City of Clearwater
Attn: City Manager
P.O. Box 4748
Clearwater, FL 33758
If to Buyer:
C.I.M.H.Z MANAGEMENT LLC
Attn: Chaim Rappaport, Manager
6465 142ND AVE N APT Z204
Clearwater, FL 33760
13. This Agreement may not be assigned by Buyer without the express written consent of the
City, which consent shall be in the City's sole discretion.
14. This Agreement, together with any exhibit(s) attached hereto, constitutes the entire
Agreement between the Parties and no representation, warranty, promise, or inducement
not expressly included in the Agreement shall be binding upon any party hereto, their legal
representative, successors and assigns.
15. The "Effective Date" of this Agreement shall be the date on which both the Parties have
executed this Agreement.
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IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement on the day
and year first above written.
(CITY OF CLEARWATER SIGNATURE PAGE)
Approved as to form:
Matthew J. Mytych, Esq.
Assistant City Attorney
Date: I Op 0 /1 S
4
CITY OF CLEARWATER, FLORIDA,
a Florida municipal corporation.
Bruce Rector
Mayor
Date: /o /26 /2.. -
Attest:
Rosemarie Call
City C1 k
Date: at 3-,/
STATE OF FLORIDA
COUNTY OF
(BUYER SIGNATURE PAGE)
C.I.M.H.Z MANAGEMENT LLC,
a Florida limited liability company.
Print name: cAtipt rettcek
Title: A9tt'
Date: (0f /G fl o.Z,3-
The foregoing instrument was acknowledged before me by means physical pre -nce or ❑ online
notarization,l�Iizthis '�(�i�' 1 day of Wr , 2025 by
�1Cr o
.11 At.:
VA who has/have produced a driver's license as identification.
as
'who ❑ is are personally known to me or
k%
Nota. c,�. '�.
Name of, otary: 1..;
My Commission Expire
My Commission No.:
(NOTARIAL SEAL)
TATIANA GARCIA
Notary Public, State of FlorlOt
Commission# HH 582254
My comm. expires Sep. 14, 2028
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