1798 Loan Subsidy Agreement - SBC Holdings - 400 Sanford AvePrepared by:
Lonnie N. Groot, Esquire
Stenstrom, McIntosh, Colbert & Whigham, P.A.
1001 Heathrow Park Lane
Suite 4001
Lake Mary, Florida 32746
(407) 322-2171
Return to:
Bob Turk, Director
Community Redevelopment Agency
City of Sanford
300 North Park Avenue
Sanford, Florida 32771
Tax Parcel Identification Number: 25-19-30-5AG-0601-001 0
I'If)RYN%II,IE I-'IORSE,- SEIIIIkIOLE COUVITY
CLERK OF CIRCUIT COURT & COVIPTROLLER
BK 8803 P7s 1116-1130 0.51P9s)
CLERK'S 0 2016117269
RECORDED 11/0D1
9/16 1-.11,,52"15 PI1
ITG
�
1 5 DOC WiX $427.35
114TAIV.32-TAX $21i14.09
RECORDING FEES $129.C-11-1
R'ECORDED V Jerkanra lqqg
A
THIS LOAN SUBSIDY AGREEMENT AND GRANT OF LIENHOLD INTEREST
is entered into this )-e day of&rl 2015 by SBC HOLDINGS, LLC,
- I
whose address is 400 South Sanford Avenue, Sanford, Florida 32771, (hereinafter
collectively referred to as the "OWNER"), and the CITY OF SANFORD, a Florida
municipal corporation, whose address is 300 North Park Avenue, Sanford, Florida
32772, (hereinafter referred to as the "CITY")
This Agreement is for the benefit of the OWNER relative to the following
described real property (hereinafter the "Property") and the CITY shall have the rights
hereinafter set forth as to the Property:
Tax Parcel Identification Number 25-19-30-5AG-0601-0010 (See the
Exhibit "A" attached hereto and incorporated herein by this reference
thereto). The Property is generally addressed as follows: 400 South
Sanford Avenue located in the City Limits of the City of Sanford; to wit: the
Lot 1 and the North 12 feet of Lot 2 according to E.R. Trafford's Map of the
Town of Sanford, as recorded in Plat Book 1, Page 56 through 64, Public
Records of Seminole County, Florida.
v �7
("C'UNTY,
P rY
Page 1
1"10 V 09 2 01 G
The CITY hereby subsidizes the financing of the renovation efforts relative to the
redevelopment of the Property in the sum of up to, but no greater than, ONE HUNDRED
TWENTY-TWO THOUSAND FORTY-SIX AND NO/100THS DOLLARS U.S.
($122,046.00), as part of a total project and loan that approximates FOUR HUNDRED
EIGHTEEN THOUSAND AND NO/100THS DOLLARS U.S. ($418,000.00) said project
involving rehabilitation work on the Property. This subsidization being made under the
following terms and conditions:
(1). The actual amount awarded by the CITY to the OWNER shall be less the
charges incurred by the CITY for any draw inspections required by the CITY and all
recording fees that are associated with this matter and incurred by the CITY of
whatsoever type or nature.
(2). The purpose of this Agreement is to implement a program of the CITY, as
set forth in Ordinance Number 2009-4162, as codified in the City of Sanford City Code
at Section 2-369, which has been legislatively developed to encourage the renovation
and productive use of the Property which is located in the Sanford Lake Monroe
Waterfront and Downtown Sanford Community Redevelopment Area within the City
Limits of the City of Sanford and to assist business owners such as the OWNER to
redevelop properties located within the City of Sanford for the benefit of the public.
(3). The CITY's grant to the OWNER, as set forth herein, will provide a
subsidy to the OWNER to effectively reduce the interest rate on the OWNER's financing
which is necessary for funding the building renovations/rehabilitation occurring on the
Property.
Page 2
(4). The OWNER has obtained financing for the Property in order to assist in
the funding and implementation of the renovation and improvement, thus rehabilitation,
of the structures located on the Property. The OWNER covenants and agrees that the
status of title of the Property is such that the CITY will have first and priority position as
to any and all lienhold interests except as to the indebtedness of the OWNER to the
HomeBanc.
(5). The OWNER covenants and agrees that the financing from the CITY or
otherwise, shall be used, or has been used, solely relating to the renovation and
improvement of the Property and exclusively used for the purposes set forth in the
OWNER's grant application filed with the CITY relative to the Property which is deemed
to be incorporated into this Agreement by this reference thereto.
(6). The OWNER and the CITY agree that, in order to secure the use of the
public funds as set forth herein, the CITY shall have a lienhold interest relative to the
Property upon the recording of this Agreement in the Official Records (Land Records) of
Seminole County, Florida at the expense of the OWNER (to include, but not be limited
to, the payment of the documentary stamp tax).
(7). The OWNER and the CITY agree that the amounts set forth above as the
CITY's financial supplementation of the renovation/rehabilitation financing shall be
reduced annually, consistent with the terms of this Agreement, such that credits shall
occur and be implemented by equal amounts of reduction of the OWNER's
indebtedness to the CITY, for a period of ten (10) years and, during such period of time,
the CITY shall hold a declining balance lien upon the Property. The declining balance
Page 3
calculation is set forth in Exhibit "B" to this Agreement attached hereto and incorporated
herein by this reference thereto.
(8). The OWNER accepts the funds set forth herein from the CITY for the
purposes herein stated. The OWNER hereby grants unto the CITY, in accordance with
the terms of this Agreement a lien on the Property. Should the OWNER sell or transfer
title to the Property without completing the renovations and improvements of the
Property to the satisfaction of the CITY, the OWNER shall repay said sums to the CITY
upon demand of the CITY.
(9). The OWNER additionally covenants and agrees to the following terms and
conditions:
(a). To ensure that the work for the project set forth in the specifications
provided to the CITY and made a part hereof in a workmanlike manner and all work
shall be accomplished in strict conformance with all applicable Federal, State, County
and City codes, laws, regulations and ordinances.
(b). To commence the specified work within and complete the work as set
forth in the application filed with the CITY.
(c). To ensure that all work accomplished is bonded and guaranteed for a
period of at least one (1) year against defects in workmanship and materials.
(d). To hold the CITY harmless in the event of property damage, personal or
physical injury occurring as a result of working on the project and in any way relating to
the Property.
Page 4
(e). To adhere to, and comply with, all terms and conditions of the grant
program of the CITY under which funds have been paid to the OWNER which terms
and conditions are incorporated herein by this reference thereto.
(f). Upon any sale or transfer of the Property, the OWNER shall immediately
notify the CITY of such sale or transfer and to satisfy any outstanding obligation as
provided herein to the CITY.
(g). Upon expiration or satisfaction of the lien, the OWNER shall be entitled to
have a satisfaction of the lien filed for record by the CITY at the expense of the
(h). Any failure to notify the CITY of the sale or transfer of the Property or to
maintain the Property in compliance with CITY codes and ordinances or to satisfy the
conditions of this Agreement shall result in the total original principal amount becoming
immediately due and payable.
(i). Payments or correspondence required by this lien for the CITY, shall be
directed to the CITY's Community Redevelopment Agency or its successor.
In Witness Whereof, the said OWNER has signed and sealed these presents
the day and year first above written.
Page 5
Printed Name Of Witness
J�x 0 'a'z—
Ye—cond Witness Signature
Dwielt'E'
Printed Name Of Witness
State Of Florida
County Of Seminole
Ow,jIJOLDI
PC NGS, LLC
Christ6pher H. Esser, Manager
Roby"NA. Esser, Manager
IRMA..-
Acknowledgment
The foregoing was sworn to and subscribed before me this ;Zb day
of4ici—' A.D. 2015, by Christopher H. Esser, Robyn M. Esser, Borden R.
Hallowes, Jr. and Allan S. Jackson, who are personally known to me or who produced
(�a� LiD as identification and who did execute
the foregoing document under oath or affirmation.
() r
Witness my hand and official seal in the County and State aforesaid this /–D
day of L A.D. 2015.
My Commission Expires 1 0/(q/ (t
ADDITIONAL SIGNATURE BLOCKS FOLLOW:
KRISTIN MATTIN]GLY
S Notary Public - State of Florida
�t 9i 18
My Comm. Expires Oct 19, 2018
1 69 53
Commission # FF 169553
P"W"19""Vw Page 6
na vvitness z:iiqnaiure
Printed Name Of Witness
State Of Florida
County Of Seminole
By: NOTHING VENTURED
ENTERPRISES, INC., Member
MAI I
Acknowledgment
The foregoing was sworn to and subscribed before me this � day
of A.D. 2015, Allan S. Jackson, who is personally known to me or who
produced &hL as identification and who did
execute the foregoing document under oath or affirmation.
Witness my hand and official seal in the County and State aforesaid this 2
day of A.D. 2015.
My Commission Expires I lq 1 l?,
- BID] kileli'Llf—Al "01'16*3�01111
Page 7
KRISTIN MATTINGLY
• k. Rn.
of
Notary Public -State of DFIorlda
ct 1 9, 018
My Comm. Expires Oct 19, 2018
Commission # FF 169553
Page 7
cond Witness Signature
Z) ay) ltk S7
Printed Name Of Witness
State Of Florida
County Of Seminole
By: SANFORD BREWING COMPAN
Member I
Film
:r H. Esser, President
Robyn 1M. Esser, Vice President
Borden R. Hallowes, Jr., VEEPresident
Acknowledgment
The foregoing was sworn to and subscribed before me this 2-o day
of -4y) 1 1 A.D. 2015, by Christopher H. Esser, Robyn M. Esser and Borden R.
Hallowes, Jr. who are personally known to me
or
who
produced
Aa- as identification
and
who
did execute
the foregoing document under oath or affirmation.
Witness my hand and official seal in the County and State aforesaid this )-0
day of i A.D. 2015.
I I
My Commission Expires �-O/ `C\ /v�
ADDITIONAL SIGNATURE BLOCKS FOLLOW
" 0 0"" '
*1
KRISTIN
RISTIN MATTINGLY
"TIN MATTINGLY
011110"
Notary
Notary Public S
lie -State
ot ry P tIte of Florida
State of Florida
M Y Comm. Expires Oct 1 9, 2 018
MY COMM. Expires Oct 19, 2018
COMMI ss Ion #
Commission #
FF 1 6955 3
FF 169553
Page 8
AGREEMENT BY THE CITY OF SANFORD
In Witness Whereof, the City of Sanford has signed and sealed these presents
the day and year first above written and agrees to the terms and conditions hereof.
Attest: CITY OF SANFORD A
SA
Cyntt0a Porter
~ �„'.' Y+' '
City Clerk
�
Approved As To Form, %'
4j
And Legality:
City Attorney
APPROVAL FOR FUNDING BY COMMUNITY REDEVELOPMENT AGENCY
In Witness Whereof, the Community Redevelopment Agency of the City of
Sanford has approved the funding set forth in this Agreement and certifies that the
funding is consistent with the Community Redevelopment Plan and that funds may be
lawfully drawn from the Community Redevelopment Trust Fund.
Attest-
, B Turk, Executive Director
Approved:
Cyn is Lindsay, Treasurbr
Page 9
CITY OF SANFORD COMMUNITY
REDEVELOPMENT AGENCY
Charles Davis, Chairperson
Date:
Sanford Downtown Waterfront CRA
Rehabilitation Loan Subsidy Program
Amortization ofLien for Recording Purposes
For Loan Subsidy given to
SBC Holdings, LLC
4OOSouth Sanford Avenue, Sanford, FL 32771
Loan date
Loan Amount
$122,O46.00
Lien Dates
Lien
Amount
From
10/1/2015 -
9/30/2018
$
122'046.00
From
8/30/2016 -
9/30/2017
$
109.841.40
From
9/30/2017 -
9/30/2018
$
97,836.80
From
9/30/2018 -
9V30/2019
$
85.432.20
From
9/30/2010 -
EK30/2020
$
73.227.60
From
8/30/2020 -
9/30/2021
$
61.023.00
From
9/30/2021 -
9/30/2022
$
48.818.40
From
9/30/2022 -
9/30/2023
$
30.813.80
From
900/2023 -
9/30/2024
$
24.409.20
From
8/30/2024 -
8/30/2026
$
12.204.60
Exhibit A
October 12, 2016
SBC HOLDINGS, LLC
D/B/A SANFORD BREWING COMPANY
400 S. Sanford Avenue
Sanford, FL 32771
Re: 400 South Sanford Avenue
Dear SBC HOLDINGS, LLC,
As you are aware, on October 5, 2016, the Sanford Community Redevelopment Agency ("SCRA")
considered your request for an extension of the expiration of the facade grant previously awarded
to SBC HOLDINGS, LLC — D/B/A SANFORD BREWING COMPANY for work to be completed
at 400 South Sanford Avenue, Sanford, FL 32771. This extension was granted on the following
condition:
1) Completion by December 31, 2016.
Further, on October 5, 2016, the Sanford Community Redevelopment Agency considered your
request for an extension of the expiration of the rehabilitation loan subsidy previously awarded to
SBC HOLDINGS, LLC — D/B/A SANFORD BREWING COMPANY for work to be completed
at 400 South Sanford Avenue, Sanford, FL 32771. This extension was granted on the following
condition:
1) Completion by December 31, 2016.
Please be advised and on notice that if you decide to appeal a decision made with respect to any
matter considered at the above meeting or hearing, you may need a verbatim record of the
proceedings, including the testimony and evidence, which record is not provided by the City of
Sanford or SCRA. (FS §286.0105)
Please execute the attached Property Owner's Consent, Covenant and Agreement by signing it
before a notary and returning to the SCRA Executive Director within fourteen (14) days. Should
you have any questions, please feel free to contact me at (407) 335-7184.
Sincerely,
Sonia Fonseca, Executive Director
SCRA
PROPERTY OWNER'S CONSENT, COVENANT AND AGREEMENT
COMES NOW, SBC HOLDINGS, LLC — D/B/A SANFORD BREWING COMPANY, the
owners of the afore described property above, on behalf of itself and its heirs, successors, assigns
or transferees of any nature whatsoever and consents to, agrees with and covenants to perform and
fully abide by the provisions, terms, conditions and commitments set forth above.
Attest/Witness:
First Witness Signature
Printed Name Of Witness
Second Witness Signature
Printed Name Of Witness
State of Florida
County of Seminole )
Owner/SBC HOLDINGS, LLC:
Christo'pder H. Esser, Manager
Robyn M. Esser, Manager
Borden R. o7es, Jr., Managerl
Allan S. Ja/ckson, Manager
Acknowledgmen
The foregoing was sworn to and subscribed before me this 2 L day of A.D.
2016, by Christopher H. Esser, Robyn M. Esser, Borden R. Hallowes, Jr. and Allan S. Jackson,
who are personally known to me or who produced F L�'—
as identification and who did execute the foregoing document under oath or affirmation.
Witness my hand and official seal in the County and State aforesaid this 'Lj day of
0<:� A.D. 2016.
A600*Ad6A
SEBASTIAN GUINARD SANCHEZ
a
rid]
Notary Public - State Of Florida
-S Commission # FF 973868
Z
My Comm, Expires Mar 22, 2020
Notary Public, State of Florida
My Commission Expires: Q -</Z-V
I / �2,C)
ADDITIONAL SIGNATURE BLOCKS FOLLOW
F'Witness Signature
at e
Printed Name Of Witness
Second Witness Signature
�✓ �a I G(J 1 /1
Printed Name Of Witness
State of Florida )
County of Seminole )
By: NOTHING VENTURED
ENTERPRISES, INC., Member
Allan S. Jac son, Sole Corporate Officer
Acknowled ment
The foregoing was sworn to and subscribed before me this Z-1 day of (")� A.D.
2016, Allan S. Jackson, who is personally known to me or who produced
j=( I) -? as identification and who did execute the
foregoing document under oath or affirmation.
Witness my hand and official seal in the County and State aforesaid this Z, % day of
(y --4o b& -u , A.D. 2016.
""-I
• 11j, SEBASTIAN CUINARD SANCHEZ Notary Public, State of Florida
_ Notary Public - State of Florida
Commission # FF 973888
My comm. Expires Mar 22, 202o My Commission Expires: �2Z 2-0
1/f�i1{1N
ADDITIONAL SIGNATURE BLOCKS FOLLOW
4
F'irst Witness Signature
Printed Name Of Witness
Second Witness Signature
Printed Name Of Witness
State of Florida
County of Seminole )
By: SA FORD BREWING COMPANY,
er
Christop6er H. Esser, Manager
ser, Manager
Al
Borden R. Hallowes, Jr., MaiLaA
Acknowledgment
The foregoing was sworn to and subscribed before me this Z $day of ncj-,!, Leri- A.D.
2016, by Christopher H. Esser, Robyn M. Esser and Borden R. Hallowes, Jr. who are personally
known tome or who produced r-L_h2 as identification
and who did execute the foregoing document under oath or affirmation.
Witness my hand and official seal in the County and State aforesaid this �-) day of
0 te A.D. 2016.
- - - - - - - - - - - -
SEBASTIAN GUINARD SANC]HEZ
Notary Public - State of Florida
8
Commission # FF 973868
My Comm. Expires Mar 22, 2020
Notary Public, State of Florida
My Commission Expires: 0 3/'Z'LA-<)