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Home My Public Portal About2000 Letter Agreement.tif'JAN -26-2000 WED 12:09 PM FAX NO. P. 02 Covenant of Indemnification Grand Bay Tower Associates, a Florida general partnership (the "Developer") in consideration for the Village of ley Biscayne (thc "Village") granting Developer's request to allow occupancy solely of units 505 * and 1101 (the "Units") at the Grand Bay Tower Condominium Development, located at 430 Grand Bay Drive, Key Biscayne, Florida, (the "Grand Bay") during the pendency of the temporary certificate of completion (the "TCC") issued for the building structure (the "Shell") of the Grand Bay, hereby covenants and agrees as follows: Grand Bay shall defend, indemnify, and hold harmless Village from any claim; demand, suit; loss, cost, expense, or damage which may be asserted, claimed or recovered against or from Village by reason of any property damage or bodily injury, including death, sustained by any person whomsoever, which said claim, demand, suit, loss, cost, expense or damage arises out of or is incidental to or in any way connected with the Village allowing theioccupancy of the Units pending issuance of the final certificate of com L.41 a (the "CC") for the Shell of the Grand Bay, or arises out of Devc oper's breach of this Covenant of Indemnification. The above covenant to defend, indemnify and hold harmless Village, shall include Village, its officers, agents and employees, 2. Developer shall not allow any additional dwelling units to be occupied at the Grand Bay until a final or partial CC is issued for the specific tower in which the dwelling dnit is located. 3. Developer agrees that in the event of any litigation arising out of this Covenant of Indemnification, the prevailing party shall be entitled to an award of reasonable attorney's fees and costs, at both the trial and appellate level 4. Developer represents that Developer has the full right, title and authority to enter into this Covenant of Indemnification and to make the provisions hereof binding and in full force and effect. 1N WITNESS WHEREOF, the Developer has executed this Covenant of Indemnification on the day of January, 2000. DEVELOPER Grand Bay Tower Associates, A Florida general partnership by Marled e eneral Partn By: * 503 Martin Z. Margulies Authorized Representative and individually as Guarantor of each of the covenants of the Developer. , JAN -26-2000 WED 12:10 PM FAX NO, P, 03 The undersigned guarantor hereby guarantees each of the covenants of Developer. GUARANTOR Set t,,,o"f -a,(f �n by P" -Page Martin Z. Margulies, Personaily WITNESS; By: By: Accepted by Village of Key Biscayne this 1 day of re-Zrk"'''"r , 2000. LAGE MA AGER ATTEST: bT[TA ALVAREZ, CC V LAGE CLERK APPROVED AS TO FORM AND LEGAL SUFFICIENCY: FM CM ] \Agrcamenl,\Cevenmd nrTndcnnrficei.cm dco Grand Bay Tower Associates 430 Grand Bay Drive Key Biscayne, FL 33149 January 27, 2000 Re: Fire Safety Issues \Emergency Procedures at Grand Bay Tower, A Condominium Dear Unit Owner: This letter is to advise you that the elevator pressurization portion of the life safety system for the building is still in the process of being completed. Accordingly, the developer is in the process of finalizing a smoke removal system. Until such fire safety system is completed, the Fire Department of the Village of Key Biscayne (the "Department") has asked us to advise you to stay in your unit in the event of a fire in the building, unless the fire is actually in your unit. Your unit is sprinklered and has appropriate smoke detectors. Also, the developer is conducting a 24 hour watch on the building until the life safety improvements have been completed. Of course, if you detect any potential fire hazard or signs of a fire, immediately notify the building management and the Department so that appropriate measures can be taken. If you have any questions concerning this letter, you may contact our office at 305-365-0500. We apologize for any temporary inconvenience this may cause you but be assured that all necessary efforts are being made to complete the elevator life safety system in accordance with the requirements of the Department. Sincerely GRAND BAY TOWERS ASSOCIATES Bv• Cry Authorized Representative 11 \LIBRARY\Clients\Grand Bay\Letters\letter to be given to unit owner re life safety system wpd 01/27/00 09 42 AM FIELDSTONE LESTER SHEAR & DENBERG ATTORNEYS & COUNSELLORS AT LAW RONALD FIELDSTONE, P.A. PAUL A. LESTER, P.A. DAVID SHEAR, P.A. MICHAEL B. DENBERG, P.A. KENNETH R. DREYFUSS DEBORAH R. HANLEY OF COUNSEL ROBERT E. DADY, P.A. FIRST UNION FINANCIAL CENTER SUITE 2100 200 SOUTH BISCAYNE BOULEVARD MIAMI, FLORIDA 33131 TELEPHONE 305 982.1555 FACSIMILE 305.982 1550 E-MAIL. fls@fl-s com January 27, 2000 Village of Key Biscayne Building, Zoning and Planning Department 85 West McIntyre Street Key Biscayne, Florida 33149 TURNBERRY PLAZA SUITE 802 2875 N.E. 191ST STREET AVENTURA, FLORIDA 33180 TELEPHONE 305.705.0941 FACSIMILE 305.705.0942 REPLY TO MIAMI OFFICE Re: Grand Bay Towers, A Condominium (the "Building") 430 Grand Bay Drive Key Biscayne, Florida 33149 Amendment to Letter Agreement dated on or about December 14, 1999. Whereas the Owner of the above referenced property, Grand Bay Tower Associates, a Florida general partnership (the "Owner"), executed a Letter Agreement with the Village of Key Biscayne (the "Village") dated December 14, 1999 (the "Letter Agreement"); and Whereas, certain conditions have arisen that have required a modification to the Letter Agreement in accordance with the provisions set forth herein. Now, therefore, the Owner and the Village hereby confirm the following: 1. Owner has deposited in escrow with counsel for the Village the sum of Five Hundred Thousand Dollars ($500,000), which sum shall be maintained in escrow in accordance with the provisions of the executed Escrow Agreement dated December 1999. Except for the existing occupants of units 1101, 505 and 503 in the Building, the Owner shall not permit any other unit owners to occupy their units in the Building without a Certificate of Completion being issued with respect to the Building or a partial Certification of Completion or Occupancy being issued with respect to a particular tower in the Building based upon the life safety improvements are completed and approved by the Village with respect to such tower. If the Owner is in default of its obligation contained above regarding occupancy of units then the escrowed sum of $500,000 shall be subject to forfeiture in favor of the Village. 2. In accordance with the Letter Agreement, individual condominium units within the building may continue to be sold and Cenificates of Occupancy shall be issued for said units; however, except in which the unit is located as provided above, units may not be occupied until such time as all life safety improvements relating to the tower of the Building have been completed and approved by the Village. 3. The temporary Certificate of Completion shall be extended through March 4, 2000. All work associated with life safety improvements of the Building must be completed by this date. Page 2 January 27, 2000 4. The Village will continue to issue Building permits for the individual condominium units after their respective Certificates of Occupancy have been issued. 5. The Owner shall continue to provide personnel for the purpose of conducting a 24 -hour fire watch within the Building in accordance with present practices until such time as all life safety improvements have been completed and approved by the Village. 6. The Owner is in the process of testing a revised life safety system for the elevators which involves exhaust fans instead of a damper system for the first seven floors. If this testing proves effective to solve life safety requirements, then the Owner agrees to immediately proceed to order the fans and have the delivery of same expedited. Once the fans have been received at the job site, the Owner agrees to cause said fans to be installed and be available for final testing by the Village not later than fifteen days after their delivery to the job site. 7. The Owner agrees to execute a separate Hold Harmless and Indemnification Agreement in favor of the Village with respect to any life safety issues involving the existing occupants at the Building. 8. The Owner agrees to give a Notice to the existing occupants at the Building regarding the safety precautionary measures and procedures to be taken in the event of a fire, which letter shall substantially be similar to form of the letter attached hereto as Exhibit A. The undersigned parties hereby agree to the conditions s establish- •' above. Martin Z. Margulies, President Marlow Development, Inc. David Roach, Project Manager Miller & Solomon General Contractors, Inc. ilbert, Fire ge of Key Biscayne Fire Depar 1,4 H \ LIBRARY \ Clients \Grand Bay\Letters\Letter Agreement 1-24-00 (001)wPcir )lif1 A 01/27/0-9 26AM nio Santiago, C ilding Official lape of Key Biscayne Apprbv-ei, (-4/4.y\\/4',. A-R,Qrn-07 FIELDSTONE LESTER SHEAR & DENBERG ATTORNEYS & COUNSELLORS AT LAW