Pier Park Community Development District

Board of Supervisors’ Special Meeting March 28, 2023

District Office:
120 Richard Jackson Blvd, Suite 220 Panama City Beach, Florida 32407 850-334-9055

www.pierparkcdd.org

PIER PARK
COMMUNITY DEVELOPMENT DISTRICT AGENDA
City of Panama City Beach City Hall 17007 Panama City Beach Pkwy Panama City Beach, FL 32413
www.Pierparkcdd.org

District Board of Supervisors	Chris Tilley	Chairman	
	Marek Bakun	Vice Chairman	
	Lee Ann Leonard	Board Member	
	Ken Goldberg	Assistant Secretary	

District Manager	Chris Tilley Jr

Kimberly O’Mera	Assistant Secretary

Rizzetta & Company, Inc	
District Counsel	Joseph Brown	Kutak Rock LLP	
District Engineer	Robert Carroll	McNeil Carroll, Engineering, Inc.	

All Cellular phones and pagers must be turned off while in the meeting room.
The District Agenda is comprised of five different sections:

The special meeting will begin promptly at 2:00 p.m. with the first section which is called Audience Comments on Agenda Items. The Audience Comment portion of the agenda is where individuals may comment on matters that concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a response until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING.
The second section is called Business Administration. The Business Administration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The third section is called Business Items. The business items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. If any member of the audience would like to speak on one of the business items, they will need to register with the District Manager prior to the presentation of that agenda item. Occasionally, certain items for decision within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors’ discussion, motion and vote. Agendas can be reviewed by contacting the Manager’s office at (850) 334-9055 at least seven days in advance of the scheduled meeting. Requests to place items on the agenda must be submitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. The fourth section is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to updatethe Board of Supervisors on any pending issues that are being researched for Board action. The final section is called Supervisor Requests and Audience Comments. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs and provides members of the audience the opportunity to comment on matters of concern to them that were not addressed during the meeting.

Public workshops sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions.

Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (850) 334-9055, at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 7-1-1, who can aid you in contacting the District Office.

Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

PIER PARK COMMUNITY DEVELOPMENT DISTRICT
District Office  120 Richard Jackson Blvd, Suite 220, Panama City Beach, FL 32407 Mailing Address  3434 Colwell Avenue, Suite 200, Tampa, FL 33614 www.PierParkCDD.org
March 21, 2023

Board of Supervisors Pier Park Community Development District

Dear Board Members:

AGENDA

The special meeting of the Board of Supervisors of the Pier Park Community Development District will be held on Tuesday, March 28, 2023, at 2:00 p.m. (CDT), at the City of Panama City Beach City Hall, located at 17007 Panama City Beach Parkway, Panama City Beach, FL 32413. The following is the agenda for this meeting:

CALL TO ORDER/ROLL CALL
PUBLIC COMMENT
BUSINESS ADMINISTRATION
Consideration of Minutes of the Board of Supervisors’
Meeting Held on November 14, 2022	Tab 1
BUSINESS ITEMS
Consideration of Temporary Construction Easement to City of Panama City Beach
Construction Easement Notice from City of Panama
City Beach	Tab 2
Powell Adams Segment 2 Plans-
Signing and Pavement Marking	Tab 3
Powell Adams Segment 2 Plans- Typical Cross
Section Station	Tab 4
Consideration of Offer and Agreement for the Purchase and Sale of Temporary Construction Easement Beach
Consideration and Acceptance of Purchase
Sale Agreement	Tab 5
Consideration and Acceptance of Addendum to Temporary Construction Easement- Front
Beach Road	Tab 6
Consideration of Acceptance of Temporary
Construction Easement- Powell Adams Road	Tab 7
Consideration of Audit Response	Tab 8
STAFF REPORTS
District Counsel
Ratification of Final Subordinated Note Payment
and Waiver	Tab 9
District Engineer
District Manager
Presentation of District Manager
Report	(Under Separate Cover)

SUPERVISOR REQUESTS AND COMMENTS
ADJOURNMENT

We look forward to seeing you at the meeting.	In the meantime, if you have any questions, please do not hesitate to call us at (850) 334-9055.

Sincerely,
Kim O’Mera Kim O’Mera District Manager

Tab 1

1	MINUTES OF MEETING
2
Each person who decides to appeal any decision made by the Board with respect
to any matter considered at the meeting is advised that the person may need to
ensure that a verbatim record of the proceedings is made, including the
testimony and evidence upon which such appeal is to be based.
7
8
9	PIER PARK
10	COMMUNITY DEVELOPMENT DISTRICT
11
The regular meeting of the Board of Supervisors for Pier Park Community
Development District was held on Monday, November 14, 2022, at 10:00 a.m. (CDT
Time) at The Panama City Beach City Hall located at 17007 Panama City Beach
Parkway, Panama City Beach, FL 32413.
16
17  Present:
18
Chris Tilley Sr.	Board Supervisor, Chairman
Marek Bakun	Board Supervisor, Vice Chairman
Chris Tilley Jr.	Board Supervisor, Assistant Secretary
(via Speakerphone)
Ken Goldberg	Board Supervisor, Assistant Secretary
Lee Ann Leonard	Board Supervisor, Assistant Secretary
25
26  Also present were:
27	Kim O’Mera	District Manager, Rizzetta & Company, Inc.
28	Joseph Brown	District Counsel, Kutak Rock, LLP
29	(via Speakerphone)
30
31
32
33
34  FIRST ORDER OF BUSINESS	Call to Order
35
36  Ms. O’Mera called the meeting to order at 10:06 a.m. (CDT) and conducted roll call,
37  confirming a quorum for the meeting.
38
39
40  SECOND ORDER OF BUSINESS	Audience Comments
41
42  There was no audience present.
43
44
45
46

47		
48	THIRD ORDER OF BUSINESS	Consideration of the Minutes of the	
49		Board of Supervisors Meeting held on	
50		August 8, 2022.	
51			
52 Ms. O’Mera presented the Minutes of the Board of Supervisors meeting held August 8,
53  2022, with the Board.

On a Motion by Mr. Bakun seconded by Mr. Tilley, with all in favor, the Board of Supervisors approved the minutes of the Board of Supervisors Meeting held on August 8, 2022, for Pier Park Community Development District.

54

55
56  FOURTH ORDER OF BUSINESS	Ratify Acceptance of Insurance Policy
57
Ms. O’Mera presented the fiscal year 22/23 Insurance Policy and stated that this policy
was effective October 1, 2022, through October 2023. Mr. Bakun asked for an update on
price changes. Ms. O’Mera informed the Board that this policy was under budget due to a
significant change in the park restrooms being covered under the Property Policy.

On a Motion by Mr. Tilley, seconded by Ms. Leonard., with all in favor, the Board of Supervisors ratified Acceptance of Insurance Policy for fiscal year 22/23, for Pier Park Community Development District.

62

63
64
65
FIFTH ORDER OF BUSINESS	Discussion regarding AB
Park/Beachfront OLTR Budget and
Replacement of Pier Decking
69
70
Ms. O’Mera turned the presentation over to Mr. Brown. Mr. Brown advised that this
business item is a two-part item. He stated the city has provided a formal written
notice of objection to the District regarding the OLTR Budget for fiscal year 22/23 for the
AB Park and Beachfront maintenance. He stated that under the PIPPA agreement with the
City we supply the city with a copy of the proposed budget every year and they have an
opportunity to provide notice of objection if they have objections to the budget.
77
Mr. Goldberg asked Mr. Brown for a cost range and impact for this work. Mr. Brown did not
have numbers in front of him at the moment. General discussion ensued. Mr. Brown stated
that the city is recognizing that they do not have funds built into the budget for pier deck
repairs. He stated the city has proposed to handle pier deck repairs with contribution from
their new lessee.
83

On a Motion by Mr. Goldberg, seconded by Ms. Leonard., with all in favor, the Board of Supervisors approved authorizing Chairman or Vice Chairman to work with District Staff to resolve the OLTR budget objection, for Pier Park Community Development District.

84

On a Motion by Mr. Goldberg, seconded by Mr. Tilley, with all in favor, the Board of Supervisors approved city proposal that they require their lessee replace the pier decks with opportunity for District input and review on what material is used for replacement, for Pier Park Community Development District.

85

86
87
88
89
90
SIXTH ORDER OF BUSINESS	Discussion regarding subordinated
note true-up/closeout and mutual
release regarding same
94
Ms. O’Mera informed the Board that this business item will be carried over to the next
Board of Supervisors Meeting agenda. Mr. Brown stated that we need the year end
financials to be able to do analysis for the OLTR that would have come in around October
of the last fiscal year to compare with the actuals on the maintenance side in order to
calculate final payment to St. Joe. Mr. Bakun asked Mr. Brown for the proposed release so
that he can get it preapproved with St. Joe’s counsel so that there is no additional delay.
101
102
103
104
105
106
107  SEVENTH ORDER OF BUSINESS	STAFF REPORTS
108
A.	District Counsel
Mr. Brown stated that on a previous agenda there was an attorney
authorization that authorized for you to deal with the city consultants. The
city has sent a request to formally agree to a proposed construction
easement that is on the Districts property adjacent to Powell Adams Road.
He doesn’t believe the District has any approvements in that area and it
doesn't appear to be irrigated or highly maintained. The city is proposing to
make a payment to the District based on a proposal they included for
$1,600.00. His one concern is the language regarding the state of the
District property upon return.

119
120

On a Motion by Mr. Tilley, seconded by Ms. Leonard, with all in favor, the Board of Supervisors approved taking action on the proposed easement granting authority to Chairman to execute that easement subject to the conditions and concerns at the state of the District property upon return, for the Pier Park Community Development District.

121

122
123
Mr. Brown stated that some months ago it was discussed the desire to make
repairs to sidewalks. The city had their own resources prepared to complete
this work. One of the issues that was discussed with the City was that Aaron
Bessant Park has been used for larger events than what was originally
envisioned. Due to the increased activity the city is willing to split or share
costs for repairs.
130

On a Motion by Mr. Bakun, seconded by Mr. Tilley, with all in favor, the Board of Supervisors approved staff working with city under the determination of shared cost and authorizing Chairman and Vice Chairman final approval, for the Pier Park Community Development District.

131

132
133
134
135
B.	District Engineer
The were no reports.
138
139	C.	District Manager
140	Ms. O’Mera advised the Board of the next meeting scheduled for February
141	20, 2023. She stated she will be working with the staff accountant to get the
142	financials released which may take up some of Mr. Browns time.
143
144
145
146  EIGHTH ORDER OF BUSINESS	Supervisor Requests
147
148  There were no Supervisor Requests.
149
150
151
152
153
154  NINTH ORDER OF BUSINESS	Adjournment
155

On a Motion by Ms. Leonard, seconded by Mr. Goldberg, with all in favor, the Board of Supervisors adjourned the meeting at 10:54 a.m., for Pier Park Community Development District.	
156			
157			
158			
159	 		 		
160	Secretary/Assistant Secretary	Chairman/Vice Chairman	
161			
162			
163			
164

Tab 2

4

October 19, 2022

RECEIVED
City of	OCT 2 1 2023
Panama City Beach

NOTICE TO OWNER

PCB City Hall
17007 PCB Parkway
PCB, FL. 32413
p: (850) 233-5100
F: (850) 233-5108
www.pcbfl.gov

Pier Park Community Development District 3434 Colwell Avenue, #200
Tampa, FL 33614

Project: County: Parcel No.: Tax ID No.:

Front Beach Road Segment 4.1 - Powell Adams Rd. Bay
773
33750-100-000

Dear Pier Park Community Development District:	Sent Via USPS Cert. #70200640000104042284

The City of Panama City Beach (the City) is planning the following improvement of the above referenced transportation facility:

Reconstruction of the Front Beach Road Segment 4.1 to include street lighting, landscaping, medians, turn lanes, sidewalk, drainage and the undergrounding of utilities and improvements proposed for Powell Adams Road.

Our research shows you own property needed for this project. This letter, along with the enclosed brochure entitled The Real Estate Acquisition Process, explains your rights and options and the process we must follow by law in acquiring your property. The following enclosed documents identify the property that is needed:

Temporary Construction Easement Parcel Sketch and Legal Description

We recognize that a proposed transportation project, particularly one which requires the acquisition of private property, will usually result in many questions and concerns. Please be assured you will have sufficient time to have your questions answered, to consider and understand your rights, options and responsibilities, and make all necessary arrangements. Throughout this process we will do our best to ensure your questions are answered, that you are treated fairly and receive all of the rights you are guaranteed by law, and that you receive a fair price for your property.

Under Federal and State law, you are entitled to certain rights and protections when a public agency must acquire real estate from you. The following is a summary of your rights:

You may obtain copies of the City's appraisal, right of way maps and construction plans.
We will make a written offer to you to purchase your property and will negotiate with you, in good faith to reach a mutually acceptable purchase price.
If we cannot agree on a purchase price, we will not file a condemnation lawsuit until at least 30 days after
you receive our initial written offer.
You will receive no less than full compensation for the property acquired. Full compensation includes, the value of the real estate acquired together with damages, if any, to your remaining property.
You may be eligible for relocation assistance benefits if you are required to move or move personal possessions from the property we acquire.
You may receive reimbursement for reasonable attorney fees and other reasonable costs you incur for appraisal or other services associated with the City's acquisition.

Mayor
Mark Sheldon

Ward 1
Paul Casto

Ward2
Phil Chester

Ward3
Mary Coburn

Ward4
Michael Jarman

City Manager
Drew Whitman

Home of the world's most beautiful beaches.	-

.'

Your rights and options are more fully explained in the enclosed brochure entitled The Real Estate Acquisition Process. We encourage you to read this brochure carefully and contact us if you have any questions.
We want to negotiate with you for the purchase of your property. If you have questions about any aspect of our acquisition process or if you have information that would help us to determine a fair value for your property or help us provide service to you, please let us know. Regardless of whether or not we reach an agreement on the purchase of your property, we will do our best to be sensitive and responsive to your needs.
If you experience any problems, please do not hesitate to contact: Jan Rybak, SR/WA
1466 Lee Avenue
Tallahassee, FL 32303 jrybak@keystonefs.com (850) 877-7185 (Office)
(850) 445-2672 (Cell)

Sincerely,

Enclosures:

Questionnaire Return Envelope
Temporary Construction Easement Parcel Sketch and Legal Description
The Real Estate Acquisition Process Brochure

CC: Amy Myers, Esquire, City Attorney, City of Panama City Beach

Received by: USPS Certified Mail #70200640000104042284

Date: 	

QUESTIONNAIRE

FRONT BEACH ROAD SEGMENT 4.1, POWELL ADAMS PROJECT

Dear Property Owner:

COUNTY: PARCEL NO.: ATTENTION:

Bay
773
Jan Rybak, SR/WA

After completing this form, please return it to Keystone Field Services, Inc. in the postage-paid envelope provided.

Are you the owner of the property identified above? 	_
I have sold all 	 or part 	 of the property to: Name: 			
Address: 	 Approximate Date Sold: 		
Other than my spouse, I share ownership of this property with:
Name: 		 Address: 	 Telephone No.: 		
Please list the appropriate contact person for this property:
Name and Title: 		 Address: 		 Telephone No.: 	
E-mail: 	
Is there an ongoing business on this site? 	 Ifyes:   Please provide the business' name: 	 
How long has the business operated on the site? 	_
Who owns the business?
Name: 	 Address: 		 Telephone No.: 			
Additional Comments: 	

Property Owner's Signature

Printed Name and Title

Date

-"
Hand Arendall Harrison Sale, LLC
, •	Amy E. Myers, Esquire
16901 Panama City Beach Pkwy, Panama City Beach, FL 32413
Parcel Tax Identification Number: 33750-100-000

Parcel No: Project: County:

773
Front Beach Road Segment 4.1, Powell Adams Bay

TEMPORARY EASEMENT

THIS EASEMENT made this 		day of 	_, 2022, by and between PIER
PARK COMMUNITY DEVELOPMENT DISTRICT, a special purpose unit of local government established pursuant to Chapter 190, Florida Statutes, whose address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614, granter, and the CITY OF PANAMA CITY BEACH, whose address is 17007 Panama City Beach Parkway, Panama City Beach, Florida 32413, its successors and assigns, grantee.

WITNESSETH that for and in consideration of the sum of One Dollar and other valuable considerations, receipt and sufficiency of which is hereby acknowledged, the granter hereby gives, grants, bargains and releases to the grantee, a temporary easement for the purpose of constructing the project according to current construction plans in, upon, over and through the following described land in Bay County. Florida, described as follows, viz:

POWELL ADAMS ROAD

TEMPORARY CONSTRUCTION EASEMENT

A PARCEL OF LAND LYING AND BEING IN SECTION 20, TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT A POINT MARKING THE INTERSECTION OF THE NORTHEASTERLY RIGHT OF WAY LINE OF U.S. HIGHWAY 98 {FRONT BEACH ROAD) AND THE NORTHWESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROADS AND PROCEED NORTH 32 DEGREES 18 MINUTES 56 SECONDS EAST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF
724.66 FEET TO THE SOUTHEAST CORNER OF PROPERTY RECORDED IN OFFICIAL RECORDS BOOK 3277, PAGE 919 OF THE PUBLIC RECORDS OF BAY COUNTY, FLORIDA, FOR THE POINT OF BEGINNING; THENCE LEAVING SAID NORTHWESTERLY RIGHT OF WAY LINE PROCEED NORTH 00 DEGREES 40 MINUTES 09 SECONDS EAST, ALONG THE EAST BOUNDARY LINE OF SAID PROPERTY, FOR A DISTANCE OF 13.34 FEET; THENCE LEAVING SAID EAST BOUNDARY LINE PROCEED NORTH 32 DEGREES 19 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF
816.00 FEET TO THE SOUTHWESTERLY RIGHT OF WAY LINE OF L.C. HILTON DRIVE (66' RIGHT OF WAY); THENCE SOUTH 57 DEGREES 59 MINUTES 39 SECONDS EAST, FOR A DISTANCE OF
7.00 FEET TO THE INTERSECTION OF SAID SOUTHWESTERLY RIGHT OF WAY LINE WITH THE NORTHWESTERLY RIGHT OF WAY LINE OF AFORESAID POWELL ADAMS ROAD; THENCE SOUTH 32 DEGREES 19 MINUTES 07 SECONDS WEST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 827.40 FEET TO THE POINT OF BEGINNING.

CONTAINING 5751.91 SQUARE FEET OR 0.132 ACRES, MORE OR LESS.

IT IS UNDERSTOOD and agreed by the parties hereto that the rights granted herein shall remain in effect for a term of 3 years from the construction start date of the Project (Notice to Proceed date) or until the completion of construction of the Project which is anticipated to be October 2026.

IN WITNESS WHEREOF, the said granter has signed and sealed these presents the day and year above written.

Signed, sealed and delivered in the presence of:
(Two witnesses required by Florida Law)

Pier Park Community Development District

By:

1st witness signature	Print Name:

Print 1st witness name	Its:

Title

Address of granter:

2nd witness signature
Print 2nd witness name STATE OF FLORIDA
COUNTY OF 	_

The foregoing instrument was acknowledged before me, by means of □physical presence or□online notarization, this 	 day of 	,2022, by
			who is personally known to me or who has produced 	 as identification.

Affix Seal

(Type/print or stamp name under signature) Title or rank (Serial No., if any)

LEGEND:
R/W = RIGHT OF WAY NO. = NUMBER
P.O.B. = POINT OF BEGINNING
TCE = TEMPORARY CONSTRUCTION EASEMENT
-1/ /1- = LINE NOT TO SCALE
lHE UNDERSIGNED SURVEYOR HAS NOT BEEN PROVIDED A CURRENT TITLE OPINION OR ABSTRACT Of MATIERS AFFECTING TITLE OR BOUNDARY TO lHE SUBJECT PROPERTY. IT IS POSSIBLE lHERE ARE RECORDED DEEDS. UNRECORDED DEEDS, EASEMENTS, RESTRICTIONS, SElBACKS OR OlHER INSTRUMENTS AND GOVERNMENT REGULAllONS VMIQ-1 COULD AFFECT lHE BOUNDARIES AND/OR USE OF lHE PROPERTY.

lHIS SKETCH IS FOR INFORMAllONAL PURPOSES ONLY AND DOES NOT DEPICT lHE RESULTS OF A FIELD SURVEY.

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1 INCH= 100 FEET

PARCEL 33791-000-000
284 POWELL ADAMS WIWAM R. DOZIER ErAL
O.R. BOOK 3277, PAGE 919

PARCEL 33750-100-000 POWELL ADAMS ROAD
PIER PARK COMMUNITY DEVEL DIST.
O.R. BOOK 2736, PAGE 629 (PRESERVATION AREA 3 & STORMWATER RETENTION PONO 3B)
®

SOUTHEAST CORNER
O.R. BOOK 3277, PAGE 919

POWELL ADAMS ROAD~ TEMPORARY CONSlRUCTION EASEMENT SJC

A PARCEL OF LAND LYING AND BEING IN SECTION 20, TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT A POINT MARKING THE INTERSECTION OF THE NORTHEASTERLY RIGHT OF WAY LINE OF
U.S. HIGHWAY 98 (FRONT BEACH ROAD) AND THE NORTHWESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROADS AND PROCEED NORTH 32 DEGREES 18 MINUTES 56 SECONDS EAST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 724.66 FEET TO THE SOUTHEAST CORNER OF PROPERTY RECORDED IN OFFICIAL RECORDS BOOK 3277, PAGE 919 OF THE PUBLIC RECORDS OF BAY COUNTY, FLORIDA, FOR THE POINT OF BEGINNING; THENCE LEAVING SAID NORTHWESTERLY RIGHT OF WAY LINE PROCEED
NORTH 00 DEGREES 40 MINUTES 09 SECONDS EAST, ALONG THE EAST BOUNDARY LINE OF SAID PROPERTY, FOR A DISTANCE OF 13.34 FEET;
THENCE LEAVING SAID EAST BOUNDARY LINE PROCEED NORTH 32 DEGREES 19 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF 816.00 FEET TO THE SOUTHWESTERLY RIGHT OF WAY LINE OF LC. HILTON DRIVE (66' RIGHT OF WAY); THENCE
SOUTH 57 DEGREES 59 MINUTES 39 SECONDS EAST, FOR A DISTANCE OF 7.00 FEET TO THE INTERSECTION OF SAID SOUTHWESTERLY RIGHT OF WAY LINE WITH THE NORTHWESTERLY RIGHT OF WAY LINE OF AFORESAID POWELL ADAMS ROAD: THENCE SOUTH 32 DEGREES 19 MINUTES 07 SECONDS WEST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 827.40 FEET TO THE POINT OF BEGINNING.
CONTAINING 5751.91 SQUARE FEET OR 0.132 ACRES, MORE OR LESS.

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POINT OF COMMENCEMENT INTERSECTION NORTHEASTERLY RIGHT OF WAY U.S. HIGHWAY 98 (FRONT BEACH ROAD) & THE NORTHWESTERLY RIGHT OF WAY

DAWO JON BAR1l.£IT. P.S.ltl.	DATE SIGNED

-----=---PO-WE-LL-A-DA-MS-RO-AD--------..	--..

---r-PR-OF-ESS-ION-AL-SU-R-YO-R r,t -MAP-PE-R -No.-LS-401i8

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iv	DoewlJl!b1Nee!Nr.r,®	SKETCH OF DESCRIPTION	DRAWING  DATE:  PROJECT NO.

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0	TEMPORARY CONSTRUCTION EASEMENT	4 2
203 ABERDEEN PARKWAY	SJC POWELL ADAMS ROAD

2021

50104121

PANAMACITY,FLORIDA32405	CITY OF PANAMA CITY BEACH
PHONE: 850.522.0644 FAX: 850.522.1011	BAY COUNTY. FLORIDA
WWW.DEWBERRY.COM

DJS
APPRQ\/ll) BY:	S1

CERTIFICATE OF AUTHORIZATION NO. LB 8011

FB/PG: NA.	FlD DATE:NA	SCALE: 1•-100•	JG

City of
Panama City Beach

PCB City Hall
17007 PCB Parkway
PCB, FL. 32413
p: (850) 233-5100
F: (850) 233-5108
www.pcbfl.gov

October 19, 2022		AGENCY: PROJECT: TAX ID#: PARCEL#:
Pier Park Community Development District 3434 Colwell Avenue
#200

City of Panama City Beach
Front Beach Road Segment 4.1 - Powell Adams Rd. 33750-100-000
773

Tampa, FL 33614

Sent Via USPS Cert.#: 70200640000104042284

Dear Pier Park Community Development District:
RE: Front Beach Road Segment 4.1 Project - (Temporary Easement)
Enclosed please find the official Offer to Purchase package for Parcel 773. Parcel 773 is a 5,751.91 square foot temporary easement which the City of Panama City Beach (the City) needs in order to facilitate the improvement of Front Beach Road Segment 4.1 including the improvement of Powell Adams Road. The following is a list of the documents included in this package:

Offer and Agreement
Parcel Sketch and Legal Description
Temporary Easement
Request for Taxpayer Identification Number and Certification (W9 Form)
Approved Appraisal
"Summary of Statutory Rights" Statement
"How Attorney's Fees and Costs are Calculated and/or Reimbursed" Statement

The attached purchase offer outlines compensation for the temporary easement on your property. Please note that in addition to compensation for the subject parcel, the City is also offering you an additional amount as an incentive, in accordance with a resolution adopting an incentive schedule for land rights pursued by the City. The incentive is being offered so the purchase of this parcel can be completed expediently as time is of the essence. Should we not be able to come to a mutually agreeable settlement, the incentive amount offered will be withdrawn prior to any condemnation proceeding.

Please return the executed documents to my attention at: Keystone Field Services, Inc., 1466 Lee Avenue, Tallahassee, FL 32303.
Please let me know if you have any questions. I can be reached in my office at (850) 877-7185 or online at jrybak@keystonefs.com.

Sincerely,
QZ,SRflNA
Consultant Project Manager

\.-e ....s e... c ,._ l l
vv---.--e -

Cc:	Amy Myers, City Attorney, City of Panama City Beach

Receipt Acknowledged: USPS Certified Mail	Date: 	_

Mayor
Mark Sheldon

Ward 1
Paul Casto

Ward2 Phil Chester

Ward3 Mary Coburn

Ward4 Michael Jarman

City Manager
Drew Whitman

Home of the world's most beautifl;t beaches.

OFFER AND AGREEMENT FOR
THE PURCHASE AND SALE OF REAL PROPERTY INTEREST(s) BAY COUNTY
CITY OF PANAMA CITY BEACH

Project: Parcel No.: Tax ID No.:

Front Beach Road Segment 3
773
33750-100-000

THIS AGREEMENT ("Agreement") is made and entered into this   	day of 	,2022 by and between
Pier Park Community Development District, a special purpose unit of local government established pursuant to Chapter 190, Florida Statutes, (hereinafter called "Seller") and the City of Panama City Beach, (hereinafter called "Buyer");

WITNESSETH
For and in consideration of the mutual covenants, and conditions herein contained, Seller hereby agrees to sell and convey and Buyer hereby agrees to purchase the following real property interest upon the terms and conditions contained in this Agreement:

I)	That the undersigned has been authorized by the Buyer to enter into an agreement to purchase and acquire that certain property, or interest therein, of the Seller as described in the attached Exhibit "A" (hereinafter the "Property");

That in order to construct the above referenced project (hereinafter called the "Project") it is necessary that Buyer acquire from Seller the Property or Seller's interest in the Property as that portion of Tax ID #33750-100-000 (Powell Adams Road) Bay County, Florida, containing 5,751.91 square feet, more or less, referred to as parcel 773 (Temporary Easement}.

Property Address or description of its location: Powell Adams Road, Panama City Beach. Florida 32413

That Buyer is offering to acquire the Property or interest therein under the threat of condemnation pursuant to its authority under Chapters 73, 74, and 166, Florida Statutes.

That the amounts paid by Buyer to Seller pursuant to this Agreement represent any and all compensation to which the Seller is entitled for the Buyer's acquisition of the Property and construction of the Project.

DESCRIPTION
Real property interest in the Property described as:

D Parcel  
D Parcel 	

Fee Simple
Permanent Electric Utility Easement

1:8] Parcel _JJ]_Temporary Construction Easement
PURCHASE PRICE*

Fee Sim pie Real Property Land Improvements
Real Estate Damages (Severance/Cost-to-Cure)
Easements
Permanent Electric Utility Easement Temporary Construction Easement - Parcel 773
Total Real Property
Incentive (see paragraph 5)

$0.00
$ 0.00

$ 0.00

$0.00
$ 600.00
$ 0.00

Parcel   Parcel  

Fee Simple
Permanent Electric Utility Easement

$ 0.00
$ 0.00

Parcel _JJ]_ Temporary Construction Easement	$1,000.00

Total Offer Amount	$1,600.00
FEES AND COSTS*
Attorney fees and costs**	$2,000.00
Expert costs, if any, will be paid pursuant to Florida Statutes 73.091 at closing.
* Right-of-way agent does not have any authority to alter the terms of this offer. Any and all modifications, addendums, or counteroffers must be reviewed and approved by Buyer's Right-of-Way Manager and/or Counsel prior to acceptance.
**This amount will only be paid upon Buyer's receipt of an executed attorney authorization letter from Seller.

The incentive offer amount is being made to encourage early settlement and reduce right of way costs and shall expire and be permanently withdrawn upon the filing of an eminent domain lawsuit in the circuit court for Bay County, Florida, which shall occur no sooner than thirty (30) days after the delivery of this offer or the date the offer is returned as undeliverable by postal authorities. Therefore, at the time the lawsuit is filed, the total offer for the Property will be reduced to $600.00.

This Agreement contains the total amount that Buyer will provide as reimbursement for any attorneys' fees and costs that Seller may choose to incur while reviewing this transaction. The attorney fees and costs in paragraph III above will only be paid to Seller's attorney(s) if Buyer has received an executed attorney authorization letter from Seller prior to closing. You may choose not to hire an attorney, and in such instances any appraisal fees incurred by Seller in reviewing this offer will be reviewed by Buyer and must be settled prior to closing. As stated above, at 4) III. b. expert costs, if any, will be paid pursuant to Florida Statutes 73.091.

Seller is responsible for delivering marketable title to Buyer, free and clear of liens or encumbrances, which materially affect the value of the Property. If material liens or encumbrances shall be found, Seller shall have a reasonable time in which to cure said defects. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar in accordance with Florida Law subject only to those exceptions that are acceptable to Buyer. Seller shall be liable for any encumbrances not disclosed in the public records or arising after closing as a result of the actions of Seller, unless this requirement is waived by Buyer, at its sole discretion.

Conveyance of the Property from Seller shall be by:
D Parcel  
D Parcel  

Warranty Deed
Permanent Electric Utility Easement

Parcel -1IJ_ Temporary Construction Easement

to the City of Panama City Beach, a Florida municipal corporation, in a form acceptable to Buyer, as provided in the attached Exhibit "B".

At closing, Buyer shall pay closing costs including title insurance charges, documentary stamps, and recording fees.

At closing, Seller shall only be responsible for payment of taxes (prorated though date of closing in accordance with Section 196.295, Florida Statutes), payment of any judgments, liens, mortgages, deeds of trust or other such encumbrances against the Property, and any commissions due to realtors or real estate brokers.

1 I)	Seller shall maintain the Property described in Exhibit "A" of this Agreement until the day of closing. The property shall be maintained in the same condition existing on the date of this Agreement, except for reasonable wear and tear.

Seller shall remove all personal property from the Property described in Exhibit "A" on or before the date of closing.

Seller and Buyer agree that a real estate closing pursuant to the terms of this agreement shall be contingent on delivery by Seller of an executed Public Disclosure affidavit in accordance with Section 286.23, Florida Statutes.

Seller and Buyer agree that this Agreement represents the full and final agreement for the herein described sale and purchase and no other agreements or representations, unless incorporated into this Agreement, shall be binding on the parties.

Time is of the essence in this Agreement.

This Agreement shall be binding upon the parties hereto, their heirs, successors and assigns, subject to the Buyer's approval process described below:

Acquisitions for which the "Total Offer Amount" does not exceed $25,000.00 may be approved by the City Manager, who is authorized to sign this Agreement on behalf of Buyer pursuant to Section 5-6 of the City of Panama City Beach Charter.

Acquisitions for which the "Total Offer Amount" exceeds $25,000.00 shall be wholly contingent upon the City of Panama City Beach City Council voting to approve this Agreement. If the Council's decision is yes, the City Manager will be authorized to execute this Agreement on behalf of Buyer. If the Council's decision is no, this Agreement will have no further force and effect.

Any typewritten or handwritten provisions inserted into or attached to this Agreement as addenda must be initialed by both Seller and Buyer. Right-of-way agents for Buyer do not have any authority to negotiate or accept any addenda, modifications, or counteroffers to this agreement. Any and all addenda, modifications, or counteroffers to this agreement must be reviewed and approved by Buyer's right-of-way manager prior to acceptance.

] There is an addendum to this agreement. Page  
[ X] There is not an addendum to this agreement.

is made part of this agreement

IN WITNESS WHEREOF, Seller and Buyer hereby acknowledge that their signatures as Seller and Buyer below constitute their acceptance of this agreement.

SELLER(S):	BUYER:

CITY OF PANAMA CITY BEACH

Signature	Date	BY:

Type or Print Name	Signature	Date

Drew Whitman, City Manager
Signature	Date	Type or Print Name and Title

ATTEST:
Type or Print Name

Lynne Fasone, City Clerk

		Isl Amy Myers	 Approved as to Form

	Amy Myers, City Attorney			 Type or Print Name		Date

 		
Delivered By	Type or Print Name	Date

Receipt Acknowledged By	Type or Print Name	Date

LEGEND:
R/W = RIGHT OF WAY NO. = NUMBER
P.O.B. = POINT OF BEGINNING
TCE :::: TEMPORARY CONSTRUCTION EASEMENT
/ /1- == LINE NOT TO SCALE
lHE UNDERSIGNED SURVEYOR HAS NOT BEEN PROVIDED A CURRENT 11Tl£ OPINION OR ABSTRACT OF MATIERS AFFECTING TIRE OR BOUNDARY TO lHE SUBJECT PROPERTY. IT IS POSSIBL£ lHERE ARE RECORDED DEEDS, UNRECORDED DEEDS, EASEMENTS, RESTRICTIONS, SETBACKS OR OlHER INSTRUMENTS AND GOVERNMENT REGULATIONS WHICH COULD AFFECT lHE BOUNDARIES AND/OR USE OF lHE PROPERTY.
lHIS SKETCH IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT DEPICT lHE RESULTS OF A FIELD SURVEY.

l:'.:
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PARCEL 33750-100-000 POWELL ADAMS ROAD
PIER PARK COMMUNllY DEVEL. DIST.
C.R. BOOK 2736, PAGE 629 (PRESERVATION ARE'A 3 & STORMWATER RETENTION POND 3B)
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POWELL ADAMS ROAD~ TEMPORARY CONSTRUCTION EASEMENT SJC

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PARCEL 33791-000-000
284 POWELL ADAMS WILLIAM R. OOZIER ETAL
O.R. BOOK 32n, PAGE 919

N0"40'09"E
13.34'

SOUTliEAST CORNER
O.R. BOOK 3277, PAGE 919

A PARCEL OF LAND LYING ANO BEING IN SECTION 20, TOWNSHIP 3 SOUlH, RANGE 16 WEST, BAY COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCE AT A POINT MARKING lHE INTERSECTION OF lHE NORlHEASTERLY RIGHT OF WAY LINE OF
U.S. HIGHWAY 98 (FRONT BEACH ROAD) AND THE NORTHWESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROADS ANO PROCEED NORlH 32 DEGREES
18 MINUTES 56 SECONDS EAST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 724.66 FEET TO THE SOUlHEAST CORNER OF PROPERTY RECORDED IN OFFICIAL RECORDS BOOK 3277, PAGE 919 OF lHE PUBLIC RECORDS OF BAY COUNTY, FLORIDA, FOR lHE POINT OF BEGINNING; lHENCE LEAVING SAID NORlHWESTERL Y RIGHT OF WAY LINE PROCEED
NORTH 00 DEGREES 40 MINUTES 09 SECONDS EAST, ALONG lHE EAST BOUNDARY LINE OF SAID PROPERTY, FOR A DISTANCE OF 13.34 FEET:
THENCE LEAVING SAID EAST BOUNDARY LINE PROCEED NORlH 32 DEGREES 19 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF 816.00 FEET TO lHE SOUlHWESTERL Y RIGHT OF WAY LINE OF LC. HILTON DRIVE (66' RIGHT OF WAY); lHENCE
SOUlH 57 DEGREES 59 MINUTES 39 SECONDS EAST, FOR A DISTANCE OF 7.00 FEET TO THE INTERSECTION OF SAID SOUlHWESTERL Y RIGHT OF WAY LINE WllH lHE NORTHWESTERLY RIGHT OF WAY LINE OF AFORESAID POWELL ADAMS ROAD: lHENCE SOUTH 32 DEGREES 19 MINUTES 07 SECONDS WEST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 827.40 FEET TO THE POINT OF BEGINNING.
CONTAINING 5751.91 SQUARE FEET OR 0.132 ACRES, MORE OR LESS.

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POINT OF COMMENCEMENT INTERSECTION NORTHEASTERLY RIGHT OF WAY U.S. HIGHWAY 98 (FRONT BE'ACH ROAD) & THE NORTHWESTERLY RIGHT OF WAY POWELL ADAMS ROAD
1211'1Ll!Nr.ry®

SKETCH OF DESCRIPTION

DA\l?D JON BARTL£TT, P.S.M.	DATE SIGNED
PROFESSIONAL SUR ct MAPPER No. LS4018
DRAWING  DATE: PROJECT NO.

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C:

203 ABERDEEN PARKWAY PANAMA CITY, FLORIDA 32405
PHONE: 850.522.0644 FAX: 850.522.1011 WWW.DEWBERRY.COM
CERTIFICATE OF AUTHORIZATION NO. LB 8011

TEMPORARY CONSTRUCTION EASEMENT SJC POWELL ADAMS ROAD
CITY OF PANAMA CITY BEACH BAY COUNTY. FLORIDA
FB/PG: NA.	FLO DATE:NA	SCALE: 1•=100'

04/26/2021
BY:

APPROVED BY:
JG

50104121
S1

EXHIBIT "B" TO
OFFER AND AGREEMENT FOR
THE PURCHASE AND SALE OF REAL PROPERTY INTEREST(s) BAY COUNTY
CITY OF PANAMA CITY BEACH

PaPe 4 of 4

Hand Arendall Harrison Sale, LLC Amy E. Myers, Esquire
16901 Panama City Beach Pkwy, Panama City Beach, FL 32413
Parcel Tax Identification Number: 33750-100-000

Parcel No: Project: County:

773
Front Beach Road Segment 4.1, Powell Adams Bay

TEMPORARY EASEMENT

THIS EASEMENT made this 		day of 	_, 2022, by and between PIER
PARK COMMUNITY DEVELOPMENT DISTRICT, a special purpose unit of local government established pursuant to Chapter 190, Florida Statutes, whose address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614, grantor, and the CITY OF PANAMA CITY BEACH, whose address is 17007 Panama City Beach Parkway, Panama City Beach, Florida 32413, its successors and assigns, grantee.

WITNESSETH that for and in consideration of the sum of One Dollar and other valuable considerations, receipt and sufficiency of which is hereby acknowledged, the granter hereby gives, grants, bargains and releases to the grantee, a temporary easement for the purpose of constructing the project according to current construction plans in, upon, over and through the following described land in Bay County, Florida, described as follows, viz:

POWELL ADAMS ROAD

TEMPORARY CONSTRUCTION EASEMENT

A PARCEL OF LAND LYING AND BEING IN SECTION 20, TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT A POINT MARKING THE INTERSECTION OF THE NORTHEASTERLY RIGHT OF WAY LINE OF U.S. HIGHWAY 98 {FRONT BEACH ROAD) AND THE NORTHWESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROADS AND PROCEED NORTH 32 DEGREES 18 MINUTES 56 SECONDS EAST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF
724.66 FEET TO THE SOUTHEAST CORNER OF PROPERTY RECORDED IN OFFICIAL RECORDS BOOK 3277, PAGE 919 OF THE PUBLIC RECORDS OF BAY COUNTY, FLORIDA FOR THE POINT OF BEGINNING; THENCE LEAVING SAID NORTHWESTERLY RIGHT OF WAY LINE PROCEED NORTH 00 DEGREES 40 MINUTES 09 SECONDS EAST, ALONG THE EAST BOUNDARY LINE OF SAID PROPERTY, FOR A DISTANCE OF 13.34 FEET; THENCE LEAVING SAID EAST BOUNDARY LINE PROCEED NORTH 32 DEGREES 19 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF
816.00 FEET TO THE SOUTHWESTERLY RIGHT OF WAY LINE OF L.C. HILTON DRIVE (66' RIGHT OF WAY); THENCE SOUTH 57 DEGREES 59 MINUTES 39 SECONDS EAST, FOR A DISTANCE OF
7.00 FEET TO THE INTERSECTION OF SAID SOUTHWESTERLY RIGHT OF WAY LINE WITH THE NORTHWESTERLY RIGHT OF WAY LINE OF AFORESAID POWELL ADAMS ROAD; THENCE SOUTH 32 DEGREES 19 MINUTES 07 SECONDS WEST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 827.40 FEET TO THE POINT OF BEGINNING.

CONTAINING 5751.91 SQUARE FEET OR 0.132 ACRES, MORE OR LESS.

IT IS UNDERSTOOD and agreed by the parties hereto that the rights granted herein shall remain in effect for a term of 3 years from the construction start date of the Project (Notice to Proceed date) or until the completion of construction of the Project which is anticipated to be October 2026.

IN WITNESS WHEREOF, the said grantor has signed and sealed these presents the day and year above written.
!     '

Signed, sealed and delivered in the presence of:
(Two witnesses required by Florida Law)

Pier Park Community Development District

By:

1st witness signature	Print Name:

Print 1st witness name	Its:

Title

Address of granter:

2nd witness signature
Print 2nd witness name STATE OF FLORIDA
COUNTY OF 	_

The foregoing instrument was acknowledged before me, by means of D physical presence or □online notarization, this 	 day of 	,2022, by
	 who is personally known to me or who has
produced 	 as identification.

Affix Seal

(Type/print or stamp name under signature) Title or rank (Serial No., if any)

Form W•9 (Rev. October 2018) Department of theTreasuy lntemal Rewn.18 Service

Request for Taxpayer Identification Number and Certification
Go to www.lrs.gov/FormW9 for Instructions and the latest lnfonnetlon.

Give Fonn to the requester. Do not send to the IRS.

Name (as shown on your Income tax return). Name is required on this line; do not leave this line blank.

Business name/disregarded entity name, If different from above

('")

[

Ii)

3 Check appropriate box for federal tax classification of the person whose name Is enterod on line 1. Check only ono of the
following seven boxes.

0 C Corporatlon	D s Corporation	D Partnership

D Trust/estate

4 Exemptions (codes apply only to certain entitles, not lnc!Mduals; see Instructions on page 3):

lo

ti

0

D lncfMdual/sole proprietor or

single-member LLC

Exempt payee code (if any)

C: C:

0  Umlted liability company. Enter the tax classification (C::C corporation, S=S corporation, P=Partnershlp)►
Note: Check the appropriate box In the line above for the tax classlficatlon of the single-member owner. Do not check LLC If the LLC Is clasaifled as a single-member LLC that Is disregarded from the owner unless the owner of the LLC Is another LLC that Is not disregarded from the owner for U.S. federal tax purposes. Otherwise, a single-member LLC that

Exemption from FATCA reporting
code (If any)

1

n Other (see Instructions)►

Is disregarded from the owner should check the appropriate box for the tax classlflcatlon of Its owner.

(App/lafO.ccCUlllfl'lllralned tlleU.SJ
6 Address (number, street, and apt. or suite no.) See lnstructfons.	Requester's name and address (optional)

!

7 List account number(s) here (optional)

6 City, state, and ZIP code

Enter your TIN In the appropriate box. The TIN provided must match the name given on line 1 to avoid

[I SIociTal sec]urit-y nDumbeJr

_,I I I I I

-■ 	Taxoayer Identification Number (TIN)	

backup withholding. For Individuals, this Is generally your social security number (SSN). However, for a		 resident alien, sole proprietor, or disregarded entity, see the Instructions for Part I, later. For other
entitles, ft is your employer Identification number (EIN). If you do not have a number, sea How to get a
TIN, later.

Note: If the account Is In more than one name, sea the Instructions for line 1. Also see What Name and Number To Give the Requester for guldellnes on whose number to enter.

Certification
Under penalties of perjury, I certify that:
The number shown on this form Is my correct taxpayer Identification number (or I am waiting for a number to be Issued to me); and
I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all Interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding: and
I am a U.S. citizen or other U.S. person (defined below); and
The FATCA code(s) entered on this form Of any) Indicating that I am exempt from FATCA reporting Is correct.
Certfflcatlon lna1ructions. You must cross out Item 2 above If you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all Interest and dividends on your tax retum. For real estate transactions, Item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement ORA), and generally, payments other than Interest and dMdends, you are not required to sign the certification, but you must provide your correct TIN. See the Instructions for Part II, later.
w:: I=►	-►

General Instructions
Section references are to the Internal Revenue Code unless otherwise noted.
Future developments. For the latest Information about developments related to Form W-9 and its Instructions, such as legislation enacted after they were published, go to www.lrs.gov/FormW9.
Purpose of Form
An lndlvldual or entity (Form W-9 requester) who Is required to file an Information retum with the IRS must obtain your correct taxpayer Identification number mN) which may be your social security number (SSN), lndMdual taxpayer Identification number (ITIN), adoption taxpayer Identification number (ATIN), or employer Identification number (EIN), to report on an Information return the amount paid to you, or other amount reportable on an Information return. Examples of Information retums Include, but are not limited to, the following.
Form 1099-INT Onterest earned or paid)

Form 1099-DIV (dMdends, Including those from stocks or mutual funds)
Form 1099-MISC (various types of Income, prizes, awards, or gross proceeds)
Form 1099-B {stock or mutual fund sales and certain other transactions by brokers)
Form 1099-S (proceeds from real estate transactions)
Form 1099-K (merchant card and third party network transactions)
Form 1098 (home mortgage Interest), 1098-E (student loan Interest), 1098-T (tuition)
Form 1099-C (canceled debt)
Form 1099-A (acquisition or abandonment of secured property)
Use Form W-9 only If you are a U.S. person Oncludlng a resident alien), to provide your correct TIN.
ff you do not retum Form W-9 to the requester with a TIN, you might be subject to backup withholding. See What Is backup withholding, later.

Cal. No. 10231X	Form W-9 (Rev. 10-2018)

SUMMARY OF STATUTORY RIGHTS
(Cltapters 73 and 74, Florida Statutes)

Under State law you have certain rights and protections when the City of Panama City Beach (the City) must acquire real estate from you. You will receive no less than full compensation for the property acquired Full compensation includes, but is not limited to, the value of the real estate acquired, damages, if any, to your remaining property, reasonable attorney fees and costs you incur for services of an appraiser, engineer or planner.

The City will not take any further action until you have had at least 30 days to consider its offer. In order to assist you in making that decision, the City, within 15 days of your request, will furnish to you copies of the most recent right-of-way maps and/or plans for construction adjacent to your remaining property, if any.

You may choose not to accept the City's offer of compensation for your property. You may make a counter offer in the amount you feel is appropriate. Your counter offer will be considered part of the negotiation process.

You have a right to retain your own appraiser, whose reasonable fees will be paid by the City. You have a right to be represented by an attorney during negotiations. Florida Statutes requires the City to pay fees to such an attorney based upon the difference between the last written offer to you before you hire the attorney and the total settlement, unless the parties otherwise agree.

Florida Statutes allows for a process whereby if we reach an agreement on the value of your real estate but are unable to agree on the amount of fees and costs to be paid by the City, you may file an action in Circuit Court to recover attorney's fee and costs. The City retains the right to seek condemnation of the property if an agreement on fees and costs is not reached either before, or simultaneously with, an agreement on the value of your real estate.

EMINENT DOMAIN

Jfwe are unable to come to an agreement on the value of your property, the City will file an eminent domain lawsuit. This action is also known as "condemnation " - a government's right to acquire property, which is necessary for a public purpose, with full compensation paid to the property owner.

If a lawsuit is filed, Florida law provides that, generally, the City must pay a landowner's reasonable attorney's fees and reasonable costs of litigation, including, but not limited to, appraisal fees. There are exceptions to this, which could result in a landowner being responsible for some litigation costs. For example, pursuant to statutory requirements, if the City makes an offer to settle which is rejected by the landowner and that offer later turns out to be greater than the judgment amount awarded by the court the City may not be required to pay some or much of the cost of the litigation.

HOW ATTORNEYS' FEES AND COSTS ARE CALCULATED

For purposes of its presuit initial offer to purchase your real estate The City of Panama City Beach (the City) will include an amount to reimburse you for any attorneys' fees and costs you may incur in review of the offer. It is your choice whether to hire an attorney or other experts, and you should be aware that you may be responsible for some litigation costs. This summary will provide an explanation of how the City will calculate the amount of attorney's fees and costs that is included in your offer for the Front Beach Road Segment 4.1 Project.

Attorney's fees and costs are calculated by taking 33% of the incentive amount contained in the City's initial offer. However, in no event will this amount be less than
$2,000.00, or greater than $25,000.00. The incentive amount is offered to encourage early settlement of the acquisition, and the City believes it is mutually beneficial for both parties to reach an early and amicable settlement. Therefore, the reimbursement amount for attorney's fees and costs is calculated as 33% of the incentive amount, subject to the limited exceptions stated above. This calculation is consistent with Florida Statutes.

The right for you to receive the attorney's fees payment contained in the offer is conditioned upon the City's receipt of an attorney authorization letter prior to an owner's acceptance of the initial offer. Therefore, if 1ou do not provide the City with an executed attorney authorization letter before you accept the City's offer, you may
not he eligible for the reimbursement payment.

Any expert costs, such as appraisal or engineering services, will be reimbursed pursuant to section 73.091, Florida Statutes.

Page Ii

PARCEL773 SEGMENT 4.1 - POWELL ADAMS
A TEMPORARY CONSTRUCTION EASEMENT PIER PARK COMMUNITY DEVELOPMENT DISTRICT OWNERSHIP

Page I ii

APPRAISAL REPORT

******************************************************

PROPERTY DESCRIPTION

Parcel 773 - Segment 4.1 - Powell Adams A Temporary Construction Easement
Pier Park Development District Ownership

LOCATION

Powell Adams Road at the Intersection of LC Hilton, Jr. Drive
Panama City Beach, Florida 32413

EFFECTIVE DATE OF APPRAISAL

August 12, 2022

PREPARED FOR

Mr. Courtney Drummond Interim CRA Manager
c/o City of Panama City Beach 17007 Panama City Beach Parkway Panama City Beach, Florida 32413

******************************************************

CHANDLER AND ASSOCIATES OF PANAMA CITY, INC.
11 WEST 23RD STREET- SUITED PANAMA CITY, FLORIDA 32405 PHONE (850) 769-9455
EMAIL: rccmai@bellsouth.net

CHANDLER AND ASSOCIATES
OF PANAMA CITY, INC.
REAL ESTATE APPRAISERS
11 West 23rd Street, Building D Panama City. Florida 32405
(850) 769-9455 office

October 4, 2022

RANDALL C. CHANDLER, MAI
PRESIDENT

Mr. Cou1iney Drummond Interim CRA Manager
c/o City of Panama City Beach
I 7007 Panama City Beach Parkway Panama City Beach, Florida 32413

Re:	Parcel 773 - Segment 4.1 - Powell Adams Pier Park Community Development District Ownership

Dear Mr. Drummond:

In accordance with your request for an appraisal of the above referenced acquisition, I hereby submit my report. I certify that I have made a personal inspection of the property, and, to the best of my knowledge, the information contained in the following appraisal report is true and correct. The reported analysis, opinions, and conclusions were developed, and this report was prepared, in accordance with the Uniform Standards of Professional Appraisal Practice (2020 - 2021 edition extended through 2023). This appraisal report was also prepared in accordance with the Supplemental Standards of Appraisal of FDOT dated January 2014. It is also subject to the Code of Professional Ethics and Standards of Valuation Practice of the Appraisal Institute. This appraisal was prepared for the purpose of estimating the market value of a three-year temporary construction easement. The three-year temporary construction easement will encumber 5,751.91 square feet or 0.132 acres of the larger parcel. The acquisition involves a narrow strip of land seven feet in width and 816 to 827.4 feet in length situated along the west right-of-way of Powell Adams Road.

When preparing an appraisal for an eminent domain proceeding, the appraiser must identify the larger parcel. The Dictionary of Real Estate Appraisal defines the larger parcel as, "in condemnation, that tract or tracts of land which are under the beneficial control of a single individual or entity and have the same, or an integrated, highest and best use. The elements for consideration for the appraiser in making a determination in this regard are contiguity, or proximity, as it bears on the highest and best use of the property, unity of ownership, and unity of highest and best use." 1 The larger parcel may be all of one parcel, pa1i of a parcel, or several parcels, depending to varying degrees on the unity of ownership, unity of use, and contiguity.

1 1 J. D. Eaton, Real Estate Valuation in litigation, 2nd ed. (Chicago: Appraisal Institute, 1995), p. 75
.Q.
MAI 	@

RANDALL C. CHANDLER, MAI
STATE CERTIFIED GENERAL REAL ESTATE APPRAISER NO. RZ0000156

The taking will be acquired from a tract of land owned by Pier Park Community Development District. Pier Park Community Development District owns two contiguous tax parcels. The two tax parcels are identified on the Bay County Property Appraiser's tax records as parcel numbers 33750-100-000 and 33750-130-000. Both tax parcels are improved with storm drainage retention ponds and both tax parcels are partially encumbered by a highly restrictive conservation easement. Thus, both tax parcels have the same highest and best use and the appraiser therefore concluded that both tax parcels comprise the larger parcel for the purpose of an eminent domain acquisition. The larger parcel is more specifically identified in the following appraisal report.

The value estimate set forth herein represents the value of the property rights acquired as part of the whole property, plus any severance damages or special benefits, if applicable. Please note this letter is intended only to transmit the attached narrative appraisal report. Subject to the assumptions and limiting conditions set forth in the following appraisal, it is my opinion the market value of the property rights to be acquired is as follows:

ESTIMATED VALUE OF THE PROPOSED THREE-YEAR TEMPORARY CONSTRUCTION
EASEMENT:	$600

Thank you for favoring our firm with this appraisal request. Should you have any questions concerning the attached report, please do not hesitate to advise.

Respectfully Submitted,
CHANDLER AND ASSOCIATES OF PANAMA CITY, INC.

Randall C. Chandler, MAI
State-Certified General Real Estate Appraiser RZ156

Parcel 773-Temporary Construction Easement

STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION
100-CERTIFICATE OF VALUE

I certify to the best of my knowledge and belief, that:

The statements of fact contained in this report are true and correct.

Item Segment: State Road: County:
Managing District: FA No.:
Parcel No.:

 Segment 4.1 - Powell Adams	
 30	
 Bay	
 District 3	
 NIA	
 773	

The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, unbiased. professional analyses, opinions, and conclusions.

I have no present or prospective interest in the property or bias with respect to the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My engagement in this assignment was not contingent upon developing or reporting predetermined results.

I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. - (See addenda to certifications)

My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client. the amount of the value opinion, the attainment of a stipulated result. or the occurrence of a subsequent event directly related to the intended use of this appraisal.

My analyses, opinions, or conclusions were developed and this report has been prepared in confomtity with the Unifonn Standards of Professional Appraisal Practice, and the provisions of Chapter 475. Part 11, Florida Statutes.

I have nale a personal inspection of the property that is the subject of this report and I have afforded the property o,mer the opportunity to accompany me at the time of the inspection. I have also made a personal field inspection of the comparable sales relied upon in making this appraisal. The subject and the comparable sales relied upon in making this appraisal were as represented by the photographs contained in this appraisal.

No persons other than those named herein provided significant real property appraisal assistance to the person signing this certification. The appraiser relied on building cost estimates prepared by Alday-Howell Engineering, Inc.

I understand that this appraisal is to be used in connection with the acquisition ofright-of-\1\/ay for a transportation facility to be constructed by the State of Florida with the assistance of Federal-aid highway funds, or other Federal or State funds.

This appraisal has been made in confomtity with the appropriate State laws. regulations. policies and procedures applicable to appraisal of right-of- way for transportation purposes; and, to the best of my knowledge, no portion of the property value entered on this certificate consists of items which are non-compensable under the established law of the State of Florida.

I have not revealed the findings or results of this appraisal to anyone other than the proper officials of the Florida Department of Transportation or officials of the Federal Highway Administration and I will not do so until so authoriz.ed by State officials, or until I am required by due process of law, or until I am released from this obligation by having publicly testified as to such findings,

Regardless of any stated limiting condition or assumption, I acknowledge that this appraisal report and all maps, data, summaries. charts and other exhibits collected or prepared under this agreement shall become the property of the Department without restriction or limitation on their use.

Statements supplemental to this certification required by membership or candidacy in a professional appraisal organization. are described on an addendum to this certificate and, hr reference, are made a part hereof.

Based upon my independent appraisal and the exercise of my professional judgment, my opinion of the market value for the part taken, including net severance damages after special benefits, if any, of the property appraised as of the	12th	day of	August	.. 2022. is:
Market value should be allocated as follows:

LAND

$600		LAND AREA: (AC/SF)

 0.132  Ac/  5 751.91  SF	

IMPROVEMENTS
NET DAMAGES &/OR

$-0-	

LAND USE (HABU as vacant):

Passive Recreation / Conservation

COST TO CURE	.$......a:·O"---	_

TOTAL	$600	

	October 4 2022	
DATE	Randall C. Chandler, MAI
State-Certified General Real Estate Appraiser RZ156

ADDENDUM TO THE CERTIFICATION OF VALUE

I. This appraisal report was completed in accordance with the Code of Professional Ethics and Standards of Valuation Practice of the Appraisal Institute.

Neither all nor any part of the contents of this appraisal or copy thereof, shall be conveyed to the public through advertising, public relations, news, sales, or other media without written consent and approval of the author, particularly as to valuation conclusions, the identity of the appraiser or firm with which is connected, or any reference to the Appraisal Institute or to the MAI and/or SRA designation. Further, the appraiser or firm assumes no obligation, liability, or accountability to any third party. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of the assignment.

As of the date of this report, Randall C. Chandler, MAI had completed the requirements of the continuing education program of the Appraisal Institute for designated members.

No prior services provided with regard to the subject property three years immediately prior to the valuation date.

This report is subject to review by the Appraisal Institute or it's duly authorized representatives.

The results of this report will be provided to the client, the Panama City Beach CRA.

October 4, 2022
Date	RANDALL C. CHANDLER, MAI
Physically Inspected Property
State-Certified General Real Estate Appraiser RZ156

TABLE OF CONTENTS

100 - Certificate of Value - (I)	1
110 - Table of Contents	4
115 - Qualifying and Limiting Conditions	6
120 - Summary of Salient Facts and Conclusions	10
130 -Type of Report Format	12
140 - Purpose, Intended Use, and Intended Users ofthe Appraisal	12
150 - Definition of Market Value	12
160 - Property Rights (Interest) Appraised	13
175 - Scope (Extent of the Process of Collecting, Conforming, and Reporting Data)	13
180 - Appraisal Problem	15

Presentation of Data

200 - Identification of the Property and Legal Description	18
220 - Description of the Area and Neighborhood	18
230 - Description of the Property, Photographs, and Sketches	21
235 - Existing Transportation Facility Description	35
240 - Zoning, Land Use Plan, Concurrency	35
250 - Assessed Value, Taxes and Special Assessments	35
260 - History of Ownership	36
270 - Exposure Time	36
280 - Public and Private Restrictions	36

Analysis of Data and Conclusions

300 - Highest and Best Use Analysis	38
302 - Highest and Best Use Conclusion	43
305 -Approaches to Value Used and Excluded	44
310 - Analysis of Land Sales Data	48
315 through 385 (Not Applicable)	57
Reconciliation of Value Indications and Final Value Estimate	58

Addenda

Legal Descriptions and Vesting Deeds
Bay County Property Appraiser's Tax Records Conservation Easement
Land Sales Data Owner Contact Letter
Appraiser's Qualifications

60
72
79
92
114
116

115 - QUALIFYING AND LIMITING CONDITIONS

The Certification appearing in the appraisal report is subject to the following conditions and to such other specific assumptions and limiting conditions as are set forth by the appraiser.

Title Issues: No opinion as to title is rendered. Data relative to ownership and legal description were obtained from sources generally considered reliable. Title is assumed to be marketable and free and clear of all liens and encumbrances, easements, and restrictions except those specifically discussed in the report. The property is appraised assuming responsible ownership and competent management and assuming the property is available for its highest and best use. The appraiser reserves the right to revise the market value estimate if it is determined that encumbrances, easements, restrictions, liens or other legal matters, unknown to the appraiser at the time of the report, affect the use or marketability of the property.

Legal Matters: No opinion is intended to be expressed for legal matters or matters that would require specialized investigation or knowledge beyond that ordinarily employed by real estate apprais­ ers, although such matters may be discussed in general terms in the report.
Surveys and Land Area Calculation: If a survey or engineering study is not made available to the appraiser, the appraiser may estimate the size and area of the property from sources generally considered reliable. No encroachment of real property improvements is assumed to exist. Should a survey reflect dimensions or land area other than those estimated by the appraiser, the appraiser reserves the right to revise the market value estimate accordingly. At times, it is necessary for appraisers to prepare value estimates without the aid of surveys and engineering studies. The appraiser assumes no responsibility for estimates required to prepare an appraisal in lieu of surveys and engineering studies.

Maps and Exhibits: Maps, plats and exhibits included herein are for illustration only, as an aid in visualizing matters discussed within the report. They should not be considered as surveys or relied upon for any other purpose.

Mineral Reservations: No opinion is expressed as to the value of sub-surface oil, gas or mineral rights and it is assumed that the property is not subject to surface entry for the exploration or removal of such materials except as is expressly stated.

Geological Conditions: The appraiser assumes that there are no hidden or unapparent conditions of the property or subsoil, which would render it more or less valuable. The appraiser assumes no responsibility for such conditions, or for engineering which might be required to discover such factors.
Expert Witness Testimony: The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made therefore. It is understood that any future agreements concerning court testimony will acknowledge that the appraiser is an expert in the field of real

property valuation and is entitled to a fee of not less than $250 per hour and/or a minimum expert witness fee of$400.00.

Sources Deemed Reliable: Information, estimates, and opinions furnished to the appraiser, and contained in this report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished the appraiser, and contained in this report, can be assumed by the appraiser.

Disclosure: Disclosure of the contents of the appraisal report is governed by the bylaws and regulations of the professional appraisal organizations, with which the appraiser is affiliated.

Appraisal Institute Requirements: Neither all nor any part of the contents of this appraisal or copy thereof, shall be conveyed to the public through advertising, public relations, news, sales, or other media without written consent and approval of the author, particularly as to valuation conclusions, the identity of the appraiser or firm with which is connected, or any reference to the Appraisal Institute or to the MAI and/or SRA designation. Further, the appraiser or firm assumes no obligation, liability, or accountability to any third party. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of the assignment.

Environmental Influences: Unless otherwise stated in this report, the existence of hazardous substances, including without limitation, asbestos, polychlorinated biphenyl, petroleum leakage, or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, were not called to the attention of nor did the appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde, foam insulation, or other hazardous substances or environmental conditions, which may affect the value of the property, the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in the field of environmental impacts upon real estate if so desired.

ADA Compliance: The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of the act. If so, this fact could have a negative effect upon the value of the property. Since the appraisers have no direct evidence relating to this issue, possible noncompliance with the requirements of ADA was not considered in estimating the value of the property.

Client Requirements: The acceptance of this report by the client is acknowledgment that the client has personally read the report and specifically agrees that the data set forth herein is accurate to the best of the client's knowledge. As part of the appraiser/client employment agreement, the client

agrees to notify the appraiser of the existence ofany error, omission or invalid data within 15 days of receipt and return the report along with all copies to the appraiser for correction prior to any use whatsoever.

Use of Report: Neither all, nor any part of the contents of the report, or copy thereof shall be used for any purposes by anyone but the client specified in the report, the mortgagee or its successors or assigns, without the previous written consent of the appraiser.

Structural Inspection: This appraisal/inspection is not a building inspection, structural inspection, or pest inspection. By preparing this report, the appraiser is not acting as a home/building inspector, structural engineer, or pest inspector. In performing the limited inspection of this property, areas that were readily accessible were visually observed and the review is superficial only. This inspection is not technically exhaustive and does not offer warranties or guarantees of any kind. It is advised to have the structure inspected by an inspector that offers such warranted or guaranteed inspection if there is any concern regarding adverse or negative conditions.

Zoning Compliance: It is assumed that the property conforms to all applicable zoning and future land use regulations and restrictions, and that any uses of the property considered in the highest and best use analysis found herein would be permitted.

Occupational and Other Licenses: It is assumed that all required licenses, certificates of occupancy, permits, consents, and other legislative or administrative authority from any local, state, or national government have been or can be obtained or renewed for any use on which the value opinion contained in this report is based.

Compliance with Federal, State, and Local Laws: It is assumed that the property is in full compliance with all applicable federal, state, and local environmental regulations.

Encroachment onto Adjacent Lands: It is assumed that the use of the land is within the boundaries of the property.

Market Condition Effects on Value: The opinions of value used in reaching the final opinions of value are as of the effective date of the appraisal. Because the markets upon which this estimate and conclusion are based are dynamic in nature, they are subject to change over time. Further, the appraisal report and value opinions are subject to change if future physical, legal, financial, and other conditions differ from conditions on the appraisal date.

Changes and Modifications: The appraiser reserves the right to alter statements, analyses, conclusions, or value opinions in the appraisal if facts become known that are pertinent to the appraisal process that were unknown to the appraiser at the time of report preparation.

Fee: The fee for this appraisal or study is for the service rendered and not for the physical report or time spent preparing the physical report itself. The fee for provision of this report is for analytical services provided by the appraiser and has no relation to the final value reported.

Confidentiality: This appraisal is to be used only in its entirety; no part is to be used without the entire report. All conclusions and opinions concerning the analysis set forth in the report were prepared by the specific appraiser whose signature appears on the appraisal report. No change in the report shall be made by anyone other than the appraiser. The appraiser shall not divulge the material contents of this report, analytical findings or conclusions, or give a copy of the report to anyone other than the client or the client's designee as specified in writing, except as may be required by appraisal organizations to which the appraiser belongs, as they may request in confidence for ethics enforcement, or by court of law or other body with power of subpoena.

Acceptance of Condition: Acceptance of, and/or use of, the appraisal report by the client or any third party constitutes acceptance of the previous conditions.

EXTRAORDINARY ASSUMPTIONS

The 2020-2021 edition (extended through 2023) of the Uniform Standards of Professional Appraisal Practice defines an extraordinary assumption as, "an assignment-specific assumption as of the effective date regarding uncertain information used in an analysis which, if found to be false, could alter the appraiser's opinions or conclusions." The comments set forth in USPAP regarding an extraordinary assumption are as follows: "Uncertain information might include physical, legal, or economic characteristics of the subject property; or conditions external to the property, such as market conditions or trends; or the integrity of data used in an analysis."

1. The appraiser relied on the Bay County Property Appraiser's tax records to determine the gross land area for the larger parcel. Bay County GIS maps were utilized to estimate the road frontage and identify the portion of the larger parcel encumbered by a conservation easement. These sources were assumed to be accurate and reliable. The value estimate for the larger parcel may change if the land area or dimensions are determined to be different.

HYPOTHETICAL CONDITIONS

The 2020-2021 edition (extended through 2023) of the Uniform Standards of Professional Appraisal Practice define a hypothetical condition as "a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis."

1. When doing an appraisal involving a partial acquisition for an eminent domain proceeding, it is necessary that the appraiser value the remainder property under the hypothetical condition that the proposed transportation facility or utility project has been completed in conformance with the plans and specifications. The use of this hypothetical condition is necessary and appropriate and did not alter the opinion of value.

120-SUMMARYOFSALIENTFACTSANDCONCLUSIONS

PROJECT NAME: LOCATION:

Parcel 773 - Segment 4.1 - Powell Adams

West right-of-way of Powell Adams Road at LC Hilton, Jr. Drive in Panama City Beach, Florida 32413

PROPERTY OWNER:

PROPERTY RIGHTS ACQUIRED:

TAX PARCEL ID NUMBERS (LARGER PARCEL):

LAND AREA (LARGER PARCEL): BUILDING IMPROVEMENTS: ZONING:
FUTURE LAND USE CLASSIFICATION:

MATERIAL ENCUMBRANCES:

HIGHEST AND BEST USE AS IF VACANT:

HIGHEST AND BEST USE AS IMPROVED:

VALUATION DATE:

DESCRIPTION OF THE PART ACQUIRED:

Pier Park Community Development District A three-year temporary construction easement

33750-100-000 &
33750-130-000

15.647 acres

No substantial improvements Commercial High Intensity

Tourist District

A conservation easement in favor of the Florida Department of Environmental Protection

Conservation / Passive Recreation

Not applicable August 12, 2022

A temporary construction easement over 5,751.91 square feet or 0.132 acres of the larger parcel

120-SUMMARYOF SALIENT FACTS AND CONCLUSIONS (Continued)

VALUE SUMMARIES

ESTIMATED VALUE OF THE LARGER PARCEL:

ESTIMATE VALUE OF THE TEMPORARY CONSTRUCTION EASEMENT:

SEVERANCE DAMAGES: NET COST TO CURE: SPECIAL BENEFITS:

$341,000 or $0.50 per acre

$600

$-0-

$-0-

$-0-

APPRAISER:	Randall C. Chandler, MAI
State-Certified General Real Estate Appraiser RZ156

130- TYPE OF REPORT FORMAT

The Uniform Standards of Professional Appraisal Practice for 2020 - 202 I (extended through 2023) identify two report formats, namely an appraisal report and a restricted use appraisal report. The restricted use appraisal report would not be appropriate or in compliance with the scope of work for this assignment. Thus, this appraisal report was prepared in accordance with the Supplemental Standards of Appraisal of the Florida Department of Transportation dated January I, 20 I4, the Uniform Standards of Professional Appraisal Practice, as well as, the Code of Professional Ethics and the Standards of Valuation Practice of the Appraisal Institute.

140- PURPOSE, INTENDED USE, INTENDED USERS OF THE APPRAISAL

The purpose of this appraisal is to develop an opinion of the market value of a three-year temporary construction easement. The intended use of this appraisal is to establish a value estimate for a temporary taking for an eminent domain acquisition. The intended users of this appraisal report are representatives of the City of Panama City Beach, the Florida Department of Transportation and any court which may have jurisdiction over eminent domain proceedings involving the property appraised.

150 - DEFINITION OF MARKET VALUE

The following market value definition is found in Florida case law, (Florida State Road Dept. v. Stack, 23·1 So.2d 859 Fla., 1st DCA 1969), and is the acceptable and preferred definition of market value:
"Value as used in eminent domain statutes, ordinarily means the amount which would be paid for property on the assessing date to willing seller not compelled to sell, by willing purchaser, not compelled to purchase, taking into consideration all uses to which property is adapted and might reasonably be applied."

160- PROPERTY RIGHTS APPRAISED

The property rights considered herein consist of a three-year temporary construction easement.

175 - SCOPE OF WORK
(Extent of the Process of Collecting, Confirming, and Reporting Data)

INTRODUCTION
Scope of work is defined in the 2020-202 l edition (extended through 2023) of the Uniform Standards of Professional Appraisal Practice as "the type and extent of research and analysis in an assignment." The scope of work can vary depending upon the needs of the client, however, the minimum scope of work must produce credible assignment results in the context of the intended use. The scope of work is acceptable when it meets or exceeds the expectations of parties who are regularly intended users for similar assignments, and it is consistent with what an appraiser's peers' actions would be in preforming the same or a similar assignment. The scope of work is determined by the problem to be solved. The appraisal problem is typically determined by the following factors: The client and other intended users; the intended use of the appraiser's opinions and conclusions; the type and the definition of value; the effective date of the appraiser's opinions and conclusions; the subject of the assignment and the property's characteristics; and the conditions of the assignment. The appraiser is solely responsible for determining the ultimate scope of work.

OWNER CONTACT INFORMATION
An owner contact letter was mailed to the property owner. A copy of the owner contact letter is included in the addenda of this report.

EXTENT OF DATA SEARCHED
The appraiser's research for comparable land sales encumbered by conservation easements or properties with limited functional utility was extended to include the entire Florida Panhandle.

The appraiser researched sales which closed over a lengthy period of time given the fact that sales data of this type is relatively scarce.

INFORMATION RELIED ON TO DEVELOP THE APPRAISER'S OPINIONS AND CONCLUSIONS
The opinions regarding market value, highest and best use, and other similar appraisal issues are solely those of the appraiser. Nevertheless, in the course of performing an appraisal, it is reasonable and appropriate for an appraiser to rely on factual information such as surveys, title searches, legal opinions, and information provided by other professionals. The scope of this appraisal does not include professional services which are outside the expertise of the appraiser. Any specialized studies or information provided by other professionals will be specifically referenced in this report.

EFFECTIVE DATE OF THE VALUE ESTIMATE
The opinions and conclusions set forth herein are applicable to market conditions existing on August 12, 2022.

DATE OF THE REPORT
This appraisal report was completed and conveyed to the client on October 4, 2022.

LARGER PARCEL DETERMINATION
Real Estate Valuation and Litigation published by the Appraisal Institute states, "the appraiser seldom encounters a valuation or analytical premise in condemnation appraising that cannot also be found in general appraisal assignments. The concept of the larger parcel, however, is an exception. It is an analytical premise unique to eminent domain valuation and is often misunderstood and/or misapplied by appraisers, condemners, lawyers and the courts."2 The Dictionary of Real Estate Appraisal defines the larger parcel as, "in condemnation, that tract or tracts of land which are under the beneficial control of a single individual or entity and have the same, or an integrated, highest and best use. The elements for consideration for the appraiser in making a determination in this regard are contiguity, or proximity, as it bears on the highest and

2 2 J. D. Eaton, Real Estate Valuation in Litigation, 2nd ed. (Chicago: Appraisal Institute, 1995), p. 75

best use of the property, unity of ownership, and unity of highest and best use." The larger parcel may be all of one parcel, part of a parcel, or several parcels, depending to varying degrees on the unity of ownership, unity of use, and contiguity. Highest and best use is generally considered more important, than the actual use of the property, in the determination of the larger parcel.

The taking will be acquired from a tract of land owned by Pier Park Community Development District. Pier Park Community Development District owns two contiguous tax parcels. The two tax parcels are identified on the Bay County Property Appraiser's tax records as parcel numbers 33750-100-000 and 33750-130-000. Both tax parcels are improved with storm drainage retention ponds and both tax parcels are partially encumbered by a highly restrictive conservation easement. Thus, both tax parcels have the same highest and best use and the appraiser therefore concluded that both tax parcels comprise the larger parcel for the purpose of an eminent domain acquisition. The larger parcel is more specifically identified in the following pages of this appraisal report.

180 -APPRAISAL PROBLEM
Proper identification of the appraisal problem is a necessary part of the scope of work. This appraisal addresses the market value of a temporary construction easement. In valuing the proposed acquisition, the appraiser first estimated the market value of the whole property prior to the taking. The per square foot value of the whole property is then utilized to derive a market rental rate for the proposed easement. Next, the appraiser applies an appropriate discount rate to the rental rate to derive the value of the temporary construction easement. The appraiser then considers whether or not the temporary construction easement results in damages to the remainder property or if there are special benefits which offset damages.

Presentation of Data

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200-IDENTIFICATION OF THE PROPERTY AND LEGAL DESCRIPTION 

The larger parcel was identified in the preceding pages of this report by tax parcel identification numbers and the larger parcel is legally described on the vesting deeds set forth in the addenda of this report. A survey and legal description for the area to be encumbered by the temporary construction easement is also included in the foHowing report.

220-DESCRIPTION OF THE AREA AND NEIGHBORHOOD

In appraisal literature, a neighborhood (also referred to as a market area) is generaUy defined as a group of complementary land uses. A neighborhood exhibits a greater degree of uniformity than the surrounding community and typically includes similar building types, population characteristics, demographics and zoning I land use regulations. Neighborhoods often feature similar rents and occupancy levels, building designs, building ages and land uses. Similar social, economic, governmental and environmental forces influence property values within the area. The boundaries of the neighborhood are identified by determining the area in which market forces effect surrounding properties in the same manner which market influences effect the property appraised. A neighborhood may contain a mixture of uses which support and coexist with each other including residential, commercial, governmental and industrial uses. In contrast, a district is defined as a portion of a neighborhood which is characterized by homogeneous land uses.

The boundaries of a neighborhood or market area may be established by physical factors such as lakes, rivers or may be established by land uses, demographics and other identifiable characteristics. The approximate boundaries of the subject neighborhood are delineated in green on the map set forth in the preceding pages. The reader will note that the subject neighborhood consists of a strip of land which is bounded on the west by the Bay / Walton County boundary line,

on the east by St. Andrews Bay, on the south by the Gulf of Mexico, and on the north by the Wild Heron development and those properties fronting the north right of way of U.S. Highway 98. The subject neighborhood includes properties located within the city of Panama City Beach, as well as, properties located in unincorporated areas of Bay County. The property considered herein located within the City of Panama City Beach along the west right-of-way of Powell Adams Road adjacent to and within Pier Park Shopping Center.

The primary traffic arteries serving the subject neighborhood are Panama City Beach Parkway (U.S. Highway 98 / State Road 30), Front Beach Road (Alternate or Scenic Highway 98
/ State Road 30-A), and Thomas Drive. Panama City Beach Parkway (U.S. Highway 98) is a four­ lane divided highway which serves as a bypass road for the intensely developed sections of Panama City Beach. Front Beach Road (Alternate or Scenic Highway 98) provides access to homes and businesses located in the coastal portion of the neighborhood. Thomas Drive forms a loop and extends in a southerly direction to the beach where it runs parallel with the Gulf of Mexico. Hutchison Boulevard runs in an east-west direction between Front Beach Road (Scenic Highway 98) and Panama City Beach Parkway (U.S. Highway 98). The larger parcel is located on Powell Adams Road between Front Beach Road and Panama City Beach Parkway adjacent to the largest single commercial shopping district in Panama City Beach.

The most intensive development is found in the southern portion of the neighborhood along Front Beach Road and Thomas Drive. Between 2002 and 2006, most of the older gulf front motels in the neighborhood were demolished and replaced with high rise condominium buildings. The typical new high-rise condominium building features a building height of22 ± floors. Commercial development within the subject neighborhood is concentrated along the primary traffic arteries and the secondary roads which link the primary traffic arteries. The density and intensity of development generally decreases as one moves north from the beach.

Several major developments have had a significant positive impact on the subject neighborhood. A regional airport was built north of County Road 388, east of State Road 79, and west of State Road 77. This places the regional airport within approximately six to eight miles of the northern boundary of the subject neighborhood. The new regional airport was completed in

mid-20 I 0. The St. Joe Company donated 8,000 acres of land for the development of the new airport. The airport serves the northwest Florida and south Alabama market area. Bay County approved a sector plan (a major land planning task) which addressed future land uses over 78,000 acres including the regional airport. The sector plan is similar to a development ofregional impact study; however, it addresses multiple ownerships. A new large scale retirement community known as Latitude Margaritaville is under construction along State Road 79 just north of the community of West Bay. This development will be styled after The Villages Community in central Florida. The developer reported that approximately 250 pre-construction homes were sold in the first week the project was marketed. The project has only been marketed for roughly six months and to date roughly 380 pre-construction homes have been sold. This demonstrates the strong demand which exists for a retirement community of this type in the Panama City Beach market area.

The Simon Group completed construction in 2008 on the first phase of a large shopping center known as Pier Park. The Pier Park project is located between Front Beach Road and Panama City Beach Parkway in the central portion of the neighborhood just east of State Road 79. The first phase of the development involved approximately 900,000 square feet of retail, restaurant, and entertainment space. A new Walmart Superstore was built adjacent to Pier Park in 2013, and a new 390,000 square foot shopping center was built across from Pier Park in 2013 / 2014. Numerous new hotels have recently been built and are under construction in the Panama City Beach market area.

When Covid travel restrictions were lifted, tourist visitation to Panama City Beach increased dramatically. This is possibly due to the fact that Panama City Beach is primarily a driving destination. The inventory of residential properties available for sale in the Panama City Beach area is limited. Recently, buyers have been paying in excess of the listing price for second home residential condominium units. Several new residential subdivisions have been developed and sold out by D.R. Horton, the area's largest home builder. A new high rise residential condominium building was recently completed on Front Beach Road at Calypso Resort. Our forecast for the neighborhood is for continued growth and development. Property values may stabilize or decrease as it appears the market is overheated. Nevertheless, the long-term prospects for the real estate market are favorable.

230-DESCRIPTION OF THE PROPERTY. PHOTOGRAPHS. AND SKETCHES

LOCATION
The subject site is located along the west right-of-way of Powell Adams Road adjacent to and within Pier Park Shopping Center in Panama City Beach, Florida. It is bisected by LC Hilton, Jr. Drive.

SIZE AND SHAPE
According to the Bay County Property Appraiser's tax records, the subject site contains 15.647 acres. The shape of the property is depicted on the aerial maps set forth in the following pages.

VEHICULAR ACCESS, ROAD FRONTAGE AND TRAFFIC COUNT
The subject site is accessible from Powell Adams Road, LC Hilton, Jr. Drive, and a private drive aisle (access road) within Pier Park Shopping Center. Utilizing the Bay County GIS maps, the appraiser roughly estimated the road frontage as follows: 1,350 ± feet on the west right-of-way of Powell Adams Road, 395 ± feet on the south right-of-way of LC Hilton, Jr. Drive, 1,100 ± along the south right-of-way of LC Hilton, Jr. Drive, and 1,440 ± on a private road within Pier Park Shopping Center. A review of the Florida Traffic Online Website revealed that there is no published average daily traffic count for Powell Adams Road or LC Hilton, Jr. Drive.

TOPOGRAPHY/ELEVATION
The topography of portions of the subject site is below the grade of much of the surrounding land. It is not surprising that engineers picked this site to provide storm drainage for Pier Park Shopping Center.

SUBSOIL CONDITIONS
A geotechnical study was not available to the appraiser. The subsoil conditions are irrelevant given the highest and best use and the restrictive covenants imposed by the conservation easement.

UTILITIES
All municipal utiJities are available to the property.

FLOOD ZONE
A copy of the GIS flood overlay map is set forth in the following pages. The vast majority of the subject site is located in flood zone A with a I% chance of annual flooding.

COVENANTS AND RESTRICTIONS
The Bay County Property Appraiser's website suggests the larger parcel is partially encumbered by a conservation easement which is recorded in Official Record Book 2238 Page 2313 of the public records of Bay County, Florida. The boundaries of the conservation easement are identified on the GIS overlay map set forth in the following pages. A copy of the conservation easement is included in the addenda of this report. The St. Joe Company granted a conservation easement to the Florida Department of Environmental Protection in December of 2002. Title to the land was subsequently conveyed to Pier Park Community Development District. A list of the allowable uses and prohibited uses is included on the aforementioned conservation easement. Prohibited uses include any surface use except for purposed that permit the land or water to remain predominately in its natural condition. Allowable uses include passive recreational uses such as bird watching, hiking, and nature trails. Permitted uses also include the installation of aerial boardwalks and safety lighting associated therewith. The property can also continue to be utilized for storm drainage retention. This is a highly restrictive conservation easement that essentially prohibits future development except for the specified allowable uses.

ENVIRONMENTAL CONSIDERATIONS
An environmental audit was not available to the appraiser. A visual inspection of the larger parcel did not reveal any readily apparent adverse environmental conditions.

WETLANDS
A copy of the Bay County wetlands overlay map is included in the following pages. The reader will note that approximately 1/3 to½ of the site is classified as Fresh Water Forested/ Shrub Wetlands.

IMPROVEMENTS
The larger parcel is devoid of improvements except for manmade stormwater ponds.

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I - View of the larger parcel looking west from Powell Adams Road
Photo taken by Randall Chandler on August 12, 2022

- View north along Powell Adams Road
Photo taken by Randall Chandler on August 12, 2022

- View south along Powell Adams Road
Photo taken by Randall Chandler on August 12, 2022

- View east across Powell Adams Road
Photo taken by Randall Chandler on August 12, 2022

235-EXISTING TRANSPORTATION FACILITY

Prior to the proposed project, the northern portion of Pow.ell Adams Road consisted of a four-lane road with a divided median, curbs and sidewalks. Turn lanes were provided at various entrances to Pier Park Shopping Center and the Target Department Store. Just north of LC Hilton, Jr. Drive, Powell Adams Road narrows to a two-lane road.

240-ZONING. LAND USE PLAN. CONCURRENCY

The subject property is located within the zoning jurisdiction of the City of Panama City Beach. Development within the City of Panama City Beach is controlled via a zoning ordinance, comprehensive land use plan, a land development code and municipal ordinances. The subject site is zoned Commercial High Intensity and the future land use classification is Tourist District. Copies of the zoning map and future land use map are included in the preceding pages. A wide variety of low to high intensity commercial uses and some higher intensity residential uses are allowed in a CH zoning district.

250-ASSESSED VALUE, TAXESANDSPECIALASSESSMENTS

The property considered herein is located within the ad valorem tax jurisdiction of Bay County, Florida. It is identified on the Bay County tax roll as parcel numbers 33750-100-000 and 33750-130-000. Both parcels are classified as wetlands and the total just market value is only $15. The tax millage rate is 12.187. The just value reflects the impacts of the conservation easement and the existing storm drainage ponds.

260-HISTORY OF THE PROPERTY 

The Supplemental Standards of Appraisal of FOOT require an appraiser to disclose and analyze any sales of the subject property which occurred five years immediately prior to the valuation date, as well as, any current listings or pending contracts. Title to the subject property was conveyed to Pier Park Community Development District in February of 2006. Copies of the vesting deeds are included in the addenda of this report. To the best of the appraiser's knowledge, the property is not currently listed for sale or subject to a pending contract for sale.

270-EXPOSURE TIME

Market exposure time is that length of time the property would have been exposed to the open market if it had sold and closed on the valuation date. Land sale number one was on the market for a total of744 days. It involved a site which was predominantly wetlands and therefore had limited development potential. This demonstrates the lengthy exposure time that would have been required to sell the property on the valuation date. For the purpose of this analysis, the appraiser has estimated the market exposure time at one to two years.

280- PUBLIC AND PRIVATE RESTRICTIONS

The subject site is encumbered by a conservation easement in favor of the Florida Department of Environmental Protection. A copy of the conservation easement is included in the addenda of this report. The conservation easement was discussed in the site data section of this report and will be considered in the highest and best use analysis.

Analysis of Data and Conclusions

300-HIGHEST AND BEST USE ANALYSIS

The 15th Edition ofthe Appraisal of Real Estate published by the Appraisal Institute states, "the essential components of the analysis of highest and best use are contained in the following definition of the term: the reasonably probable use of property that results in the highest value." The Uniform Appraisal Standards for Federal Land Acquisitions defines highest and best use as the, "highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future." Highest and best use must be reasonably probable, physically possible, legally permissible, and financially feasible.

One of the more significant terms in the definition of highest and best use is the term, "reasonably probable use". A highly speculative use that involves a high degree of risk may be financially feasible under ideal market conditions, however, it may not be the highest and best use of the property. An opinion of highest and best use must be developed within the context of a well informed typical buyer. A highly speculative risky use may not be reasonably probable if it is considered to be an inappropriate or unlikely use by a typical well-informed purchaser.

The determination of highest and best use is a critical step in the appraisal process. A reliable market analysis serves as the basis for establishing a reasonable opinion of highest and best use. In the market analysis, the appraiser narrows the focus of the study from a broad macroeconomic view to a study of the data which is pertinent to the subject property. That data is then utilized to identify the most profitable, competitive use to which the subject property can be put. An appraiser's conclusion regarding highest and best use is the basis upon which comparable sales are selected. In most cases, the comparable sales should have the same general highest and best use as the property appraised.

When appraising an improved property, the appraiser is required to formulate an opinion regarding the highest and best use of the vacant land and the highest and best use of the property as improved. This allows the appraiser to compare and contrast the existing use with the ideal

improvement. An ideal improvement would have no physical deterioration or obsolescence and it would not be an under-improvement or an over-improvement of the land. In analyzing the highest and best use of an improved property, an appraiser should consider alternative uses including: I) Demolishing the existing improvements and redeveloping the land. 2) Convert, renovate or alter the existing improvements to improve productivity. 3) Retain the improvements and continue the current use. In a market value appraisal, land is always valued as if vacant and available for its highest and best use. Improvements must be valued based on their contribution to the value of the underlying vacant land.

Improved properties which represent an underutilization of the vacant land may contain excess land or surplus land. A site with excess land may have multiple highest and best uses. Surplus land can be utilized for expansion of an existing use or a compatible use. Improvements may also represent an interim use. Whereas highest and best use changes over time, an existing improvement may be demolished or altered significantly in the foreseeable future. In this case, the existing improvements are typically used to offset the cost of ownership. Although there is no specific standard, interim uses do not typically have a remaining economic life of more than five to seven years.

The Uniform Standards of Professional Appraisal Practice require the appraiser to consider any reasonably probable changes in zoning or legal constraints. The 15th Edition of the Appraisal of Real Estate states, "In investigating the reasonable probability of a zoning change, appraisers consider zoning trends and the history of rezoning requests in the market area as well as documents such as the community's comprehensive plan (or master plan). Appraisers can usually eliminate the following from consideration as potential highest and best uses:
Uses that are not compatible with existing land uses in the area, such as a gas station in the middle of an exclusive single-unit residential subdivision
Uses for which zoning changes have been requested but denied in the past, such as industrial use in an area where several industrial zoning changes have been turned down in the past two years

"On the other hand, a zoning change from residential use to commercial use may be reasonable if other properties in the market area have received a similar zoning change recently or if a community's comprehensive plan designates the property for a use other than its current use. For example, consider a site zoned for single-unit residential use in a transitional neighborhood where zoning on several similar sites has been changed recently to commercial. Also, the city's comprehensive plan designates the property as lying within a future commercial corridor. Both of these factors may support an appraiser's conclusion that there is a reasonable probability of rezoning the subject site for commercial use.

"Market evidence supporting the possibility of new zoning can include rezoning applications, zoning hearings, actions by municipalities, and interviews with planning and zoning officials. Even if there is no current market evidence of a zoning change, documented interviews with officials and discussions of zoning practices and histories can be helpful in evaluating the possibility of a zoning change. These interviews, like any other market evidence, may, however, not be "proof' of a likely change or the denial of a change in zoning but rather only support the estimate of the probability of a change or the denial of a change in zoning. Decisions on zoning ordinances are made by elected officials, and the processes are often heavily contested, costly, and time-consuming. The outcomes are not known for certain until official actions are taken.

"The probability of a zoning change is never I 00%, which presents appraisers with two challenges in highest and best use analysis:
To determine if the economic demand for an alternative use of the property being appraised under a potential zoning change is greater than the economic demand for the real estate under the current zoning
To provide market support for that conclusion

"To manage their risk, most developers contract to buy property "subject to" rezoning approval rather than "as is." Many pending sales never close because they are subject to rezoning that could not be obtained within the developer's desired time frame or could not be obtained at all.

"If appropriate for the intended use of the appraisal, a current opinion of market value may be based on the hypothetical condition that the property has already been rezoned as of the current date of value. (However, as stated earlier, some clients will not accept appraisals subject to that sort of hypothetical condition, instead requiring that the property be valued "as is" with the existing zoning and, if appropriate, reflecting any additional value due to the likelihood of a zoning change.) If the date of value is prospective, the opinion of value could be based on the extraordinary assumption that the rezoning will have occurred by the prospective date of value. A current opinion of market value that reflects the existing zoning but also reflects any premium that market participants would pay because of the likelihood of a future zoning change would be the "as is" value. This value would not be based on a hypothetical condition or extraordinary assumption relating to the zoning status."

Existing uses which do not conform with zoning ordinances, land development codes or other legal constraints may be legally nonconforming uses or illegal uses. It is important that an appraiser carefully analyze available public and private land use constraints in order to make an appropriate determination concerning legally permissible uses. In complex situations, an appraiser may require a legal opinion or the appraiser may utilize extraordinary assumptions regarding legal constraints which are vague or uncertain.

In the final analysis, the determination of highest and best use results from the appraiser's analytical skill, and the opinion of highest and best use typically represents an opinion which is difficult to prove empirically with market data. An appraiser's opinion regarding highest and best use should be well supported by a thorough analysis of the property's physical characteristics, land use constraints, land use trends, and economic considerations.

HIGHEST AND BEST USE AS IF VACANT

LEGALLY PERMISSIBLE USES
Generally, in the highest and best use analysis, appraisers analyze physically possible uses before legally permissible uses. Nevertheless, in this case, it seems logical to analyze legally permissible uses first as the conservation easement which partially encumbers the larger parcel is highly restrictive and provides for a limited number of uses. The existing drainage retention ponds were permitted and constructed for the purpose of providing storm drainage for the adjacent shopping and entertainment district. A full copy of the conservation easement is included in the addenda of this report. The conservation easement states that the intent is to assure the subject lands, with the exception of the wetlands which are to be enhanced or created, will be retained forever predominantly in the natural vegetative and hydrologic condition existing at the time of execution of the conservation easement. Prohibited uses include placing buildings, roads, signs or billboards on the property, removing or destruction of trees, shrubs or other vegetation, excavating and dredging, surface uses except for purposes that allow the land or water to remain predominantly in its natural condition, activities detrimental to drainage or flood control, uses detrimental to retention and maintenance of land or water retention areas, and the use of all-terrain vehicles. Allowable uses include firefighting, machine clearing or fire lanes or firebreaks, installation of fencing for land management and habitat protection, removal of nuisance or exotic animal species, maintenance of existing unpaved trails, installation of trails in upland areas, passive recreational uses such as birdwatching, hiking and nature walks, installation of aerial boardwalks and safety lighting associated therewith, and other similar uses.

PHYSICALLY POSSIBLE USES
The existing drainage retention ponds have a material impact on the highest and best use as if vacant. As previously noted, these storm drainage retention ponds were constructed for the purpose of providing storm drainage for Pier Park Shopping District. This particular area was selected for storm drainage as it was one of the lowest areas within Pier Park Shopping Center. It not only featured a lower elevation but it contained existing wetlands and it was located in a flood

prone area. When combined with the legal constraints, the physical constraints suggest the property's best use is for storm drainage and passive recreational uses.

ECONOMICALLY FEASIBLE/ MAXIMALLY PRODUCTIVE USE
After careful consideration of the impacts of the physical and legal constraints, the appraiser concluded that the highest and best use as if vacant would involve storm drainage, conservation or passive recreational uses such as nature trails or hiking trails.

HIGHEST AND BEST USE AS IMPROVED

The subject site is essentially vacant except for stormwater drainage ponds. Thus, this section of the report is not applicable.

302 -HIGHEST AND BEST USE CONCLUSION

The highest and best use conclusion would involve storm drainage, conservation or passive recreational uses. The property is essentially unimproved except for stormwater drainage ponds and the highest and best use as improved is the same as the highest and best use as if vacant.

Page  144

305 -APPROACHES TO VALUE USED AND EXCLUDED
(Larger Parcel Before tJ,e Taking)

The cost approach is not applicable as the property is essentially vacant except for storm drainage ponds. The income approach is not applicable as land of this type is seldom leased or rented. The approaches to value applicable to the appraisal of vacant land are described below.

LAND VALUATION
(Approaches to Value Used and Excluded)

A variety of appraisal techniques are available to establish the market value of vacant land or an improved site. These appraisal techniques are summarized as follows:

SALES COMPARISON APPROACH
The sales comparison approach is the most common appraisal technique used to establish the value of vacant land. The sales comparison approach is the approved method when comparable sales are available in the market place. In the sales comparison approach, the appraiser compares the subject property with other parcels of vacant land which have sold on the open market. Whereas two properties are seldom exactly alike, adjustments are usually necessary to compensate for differences between properties before any meaningful conclusion can be drawn. Elements of comparison include property rights conveyed, legal encumbrances, financing or terms of sale, conditions of sale including the motivation of the seller, market conditions or appreciation/depreciation since the date of sale, as well as physical and locational characteristics. Through a series of comparisons, a range of value can be established for the subject site with the final value estimate based on the most reliable transactions.

ALLOCATION
Sales of vacant land in densely developed areas may be so scarce that value cannot be established via a direct sales comparison approach. In addition, sales of vacant land in remote rural areas may occur infrequently and comparable data may not be sufficient to support a sales comparison approach. In this case, land value can be estimated by allocation or extraction. In the allocation method, a typical ratio of land value to total value is established for various categories of real estate in specific locations. The percent of land value to total value can be applied to improved sales to abstract a land value estimate. This particular method is primarily utilized in support of other more reliable appraisal techniques.

EXTRACTION
In this analysis, an appraiser deducts the contributory value of the improvements from the total price of an improved property to derive the price paid for the vacant land. The price paid for the vacant land is then compared to the subject site utilizing a sales comparison approach.

SUBDIVISION DEVELOPMENT
The subdivision development approach is used to value land which would be subdivided by a typical purchaser. The subdivision development approach can be applied to the appraisal of a wide variety of land types including commercial, industrial and residential property. A discounted cash flow analysis is utilized to derive a value via the subdivision development approach. A subdivision development approach is often difficult to apply with a great deal of accuracy without the aid of a land planner and engineer. Land planning services are often necessary in order to properly analyze complex legal constrains and engineering services are often required to accurately assess environmental issues such as the impact of wetlands and the cost of development. Even without the aid of the aforementioned services, a subdivision development approach will occasionally be employed to provide support for the value derived from a sales comparison approach.

LAND RESIDUAL ANALYSIS
In land residual technique, the appraiser deducts the rent attributable to the building from total market rent to derive the rent attributable to the vacant land. Rent attributable to the vacant land is

capitalized at an appropriate rate to derive a market value estimate. This technique is primarily applicable when the value of the building can be accurately estimated, net operating income can be reasonably supported, and land capitalization rates can be accurately estimated.

DIRECT CAPITALIZATION VIA GROUND RENTS
Land leases are utilized in this appraisal technique to establish a reasonable net rental rate for the vacant land. An appropriate land capitalization technique is applied to the net rental rate for the vacant land to derive a market value estimate. This technique is primarily applicable to the appraisal of vacant land which is typically leased or rented.

SUMMATION
A sales comparison approach will be used to value the subject site. The use of other less reliable approaches to value would not add to the credibility or reliability of this report or the value estimate set forth herein.

Page 147

	310- LAND VALUE -- TABLE OF ADJUSTMENTS		
Sale Number	Subject	One	Two	Three	
Sales Price		$500,000	$1,700	$773,000	
Deed Date	8/12/22	4/25/19	12/9/20	10/20/17	
Gross Land Area in Acres	15.647	30.64	0.17	27.6	
Gross Land Area In SF	681,583	1,334,678	7,405	1,202,256	
Easements and/or Restrictions	Yes	Yes	Yes	No	
Percent Wetlands or Ponds	90% Est.	95±%	None	95%	
Price Per Square Foot		$0.37	$0.23	$0.64	
	
ADJUSTMENTS	
Property Rights		0%	0%	0%	
Adjusted Price/SF		$0.37	$0.23	$0.64	
Financing/Terms		0%	0%	0%	
Adjusted Price/SF		$0.37	$0.23	$0.64	
Conditions of Sale		0%	0%	0%	
Adjusted Price/SF		$0.37	$0.23	$0.64	
Buyer Expenditures		0.0%	0.000%	0.0%	
Adjusted Price/SF		$0.37	$0.23	$0.64	
Market Conditions		26.91%	13.65%	39.24%	
Adjusted Price/SF		$0.48	$0.26	$0.90	
		
OTHER ADJUSTMENTS	
Location		Inferior	Inferior	Inferior	
Elevation/Topography		Equal	Equal	Equal	
Easements and/or Restrictions		Equal	Equal	Equal	
Percent Wetlands		Equal	Superior	Equal	
Development Potential		Superior	Equal	Superior	
		
Overall Rating		Equal	Inferior	Superior	
A superior rating suggests the comparable ale's feature is superior to the subject
property and an inferior rating suggests the opposite.	

310-ANALYSIS OF LAND SALES DATA

SELECTION OF COMPARABLE SALES
The selection of comparable sales can be the most crucial step in the sales comparison approach. The I 5th edition of the Appraisal of Real Estate published by the Appraisal Institute states, ''the valuation of land draws directly from the conclusions of the highest and best use analysis. The highest and best use of a competitive site on the date of sale is the basis of comparability of that site to the property being appraised. Regardless of how physically similar a potentially comparable site is to the subject site, the sale property is not truly comparable if it does not have a similar highest and best use as the subject property, and in that case the potentially comparable site should be dismissed from further consideration in the analysis of the subject property."

The 15th edition of the Appraisal of Real Estate goes on to state, "the goal is to find a set of comparable sales or other evidence such as property listings or contracts as similar as possible to the subject property to ensure they reflect the actions of similar buyers. Market analysis and highest and best use analysis set the stage for the selection of appropriate comparable sales." If a transaction does not reflect the actions or the motivations of a buyer who would purchase the subject property, the appraiser should be extremely wary about the comparability of such data. The appraiser selected sales of properties with limited development potential which are similar in highest and best use to the property appraised. Properties with limited development potential, such as properties which are encumbered by conservation easements or are 100% wetlands, are often referred to as "limited market properties." That suggests that these types of properties do not sell regularly in the marketplace.

UNIT OF COMPARISON
The unit of comparison will be the price per square foot of gross land area.

QUANTITATIVE VS. QUALITATIVE ANALYSIS
The quantity and the quality of the data available in the marketplace was insufficient to support precise quantitative adjustments for location and physical characteristics. Thus, these adjustments were applied using qualitative analysis. A superior rating suggests the comparable sale's feature is superior to the subject property. An inferior rating means the opposite. Michael Broom, the Chief Appraiser for FOOT District 3, advised Randall Chandler that his department had been approving appraisals which utilized both quantitative adjustments and qualitative adjustments, although the FOOT Supplemental Appraisal Standards require quantitative adjustments. It is significant to note that the FOOT Standards have not been updated since 2014 and USPAP is typically updated every two years.

ELEMENTS OF CO:MPARISON
The elements of comparison are the property characteristics which cause the price of the subject property or the comparable sales to vary. Elements of comparison include differences in property rights appraised, financing or terms of sale, conditions of sale, buyer expenditures, market conditions, location, elevation / topography, easements and/or restrictions, wetlands, and development potential. Location is generally a very significant element of comparison. However, the adjustment for location is not as significant or important when appraising a limited market property.

PROPERTY RIGHTS APPRAISED
No adjustments were required for differences in property rights appraised. The adjustment for easements and/or restrictions could have been performed under property rights appraised. In this instance, the appraiser elected to perform the adjustment for easements and/or restrictions separately from property rights appraised as it could not be precisely quantified.

FINANCING OR TERMS OF SALE
No adjustments were required for differences in financing or terms of sale.

CONDITIONS OF SALE
This adjustment typically compensates for the fact the buyer or seller, or both were not typically motivated. No adjustments were required for differences in conditions of sale.

BUYER EXPENDITURES
When appraising vacant land, the adjustment for buyer expenditures generally represents the seller's expenses associated with demolishing existing improvements or otherwise converting the property to a vacant site. In this case, no adjustments were required for buyer expenditures.

MARKET CONDITIONS
The adjustment for market conditions generally compensates for appreciation or depreciation in prices since the date of sale. The comparable sales utilized to value the larger parcel do not provide sufficient information to accurately extract a date of sale adjustment. Nevertheless, the appraiser was able to extract a date of sale adjustment from several sales of parcels of commercial land located along the inland right-of-way of Front Beach Road in the market area. These sales suggested commercial land as generally appreciated at an average rate of 8% to 10% per annum. For the purpose of this analysis, the appraiser utilized an adjustment of8% per annum or 0.67% per month to compensate for appreciation in market prices. This adjustment is consistent with other appraisals prepared for the same client.

LAND SALE NUMBER ONE
Land sale number one involved three non-contiguous parcels of land located in an urban area of the City of Panama City in Bay County, Florida. Only 1.6 acres of the property was usable uplands and 2.47 acres was within a conservation easement. For the most part, the wetlands featured a very low elevation. This property sold for $500,000 or $0.37 per square foot of gross land area. The buyer subsequently developed the usable uplands with 24 townhomes. At the time of sale, the townhome site was only partially improved with curbs, grading and some underground utilities. It was not fully developed as townhome pad sites. The appraiser roughly allocated the purchase price of $500,000 as follows: $360,000 for the developable uplands and $140,000 for the wetlands. The seller was a bank holding company, however, the property was exposed to the open

market for 744 days and the listing price was adjusted accordingly. Given the lengthy marketing time, this sale was considered to be an arm's length transaction. This property was appraised by our firm, and we are familiar with the details of the transaction, and we are able to confirm the transaction with numerous parties to the sale. Adjusting the overall purchase price for market conditions yielded an adjusted price of$0.48 per square foot. This property was obviously superior in terms of development potential but inferior in terms of location. From an overall standpoint, it was rated roughly equal to the property appraised.

LAND SALE NUMBER TWO
Land sale number two involved a small site situated adjacent to Lago Bonito townhouse project in Pensacola Beach. The declaration of covenants, conditions and restrictions for the townhouse project prohibit development. It was purchased by a nearby property owner for gardening or beautification. The purchase price of $10,000 per acre represented $0.23 per square foot. Adjusting this sale for appreciation or market conditions yielded an adjusted price of $0.26 per square foot. It is located in a less intensely developed area and it was rated inferior in terms of location. Whereas it did not contain any wetlands, it was rated superior in that regard. From an overall standpoint, it was rated inferior to the property appraised.

LAND SALE NUMBER THREE
Land sale number three involved a 27.6-acre parcel of land located on Jenks Avenue in Panama City. 95% of the property was jurisdictional wetlands and it was located in a floodplain area. It also featured a very low elevation with regard to the adjacent road right-of-way. It was purchased by Bay County for storm drainage. The property was appraised by our firm near the date of sale. The property was listed for sale in excess of market value and in excess of the appraised value. The county paid a premium price in order to acquire the property in a voluntary acquisition. It is located in a less intensely developed area and is therefore inferior in location. It was rated superior in terms of development potential as the cost of purchasing mitigation credits and filling the land was less than the value of the land as filled. Sale number three sold for $0.64 per square foot in October of 2017. Adjusting this sale for appreciation or market conditions

yielded and adjusted price of $0.90 per square foot. From an overall standpoint, it was rated superior to the property appraised.

LAND VALUE SUMMATION-LARGER PARCEL

The appraiser was able to bracket the value of the subject property utilizing both inferior properties and superior properties as comparable sales. After careful consideration of the data and analysis included herein, the appraiser estimated the market value of the subject site at $0.50 per square foot of gross land area. Multiplying $0.50 per square foot times 681,583 square feet yields and indicated value of $340,792, rounded to $341,000.

Valuation of the Three-Year Temporary Construction Easement

La:ENO:

NO. D NJIIIER

R/W • RIGHT 0F WAY

P.O.B. a POINT CF BEGINNING

, ,,_  a LINE NOT 10 SCH.£

TCE • 1DfPQRAR't' COHSTRUCllON rASEMENT

1. lME UNDERSIGNED SUIMYCR HAS r«>T BEOI PRCMDED A aJRRENT Ull£ CPINION OR

RESlRlcnONS. SETBAOOi <R OllfER INSTRUMOOS AHD GOvmNIIENT REGULAlmS
11110! CClULD AffICT 11!E BCIRiDMES MD/at U!iE Cf THE PROPERlY.
1 &ff	is	'=¢.lKIW. PIIPOSES OtU AKO IXIS NOT DEPICT n£

JT IS POSSaE lliERE ARE REmmm D£IDS. UHRECORDEO D£EDS. EA!BENlS,

ABSTRACT Cf' MATIERS liFECllNG 11n£ IR BOUNDARY lO lliE SlB£CT PROF£R1Y,

PARCE.. 33751HOO-OOD
POWELL ADAMS

O.R. BD0IC 2.738. PAGE eze

PIER PARK COWlUNlY DE.VEL DIST.

(PRESERVATION MrA J It STDRJM,TER RETENnON POtl> 38)

POWELL ADAMS ROAD- 1EMPORAAY CONSTRUCTION EASEMENT SJC

D

-'O

100

' INCH • 100 ra:r

A PARCEL OF LAND LYING AND BEING IN SEC110N 20, TOWNSHIP 3 S0U11i, RANGE 18 WEST, BAY COUNTY, FLORIDA AND BEING MORE PAAllCUlARLY DESCRIBED AS FOLLOWS:
COMMENCE AT A POINT MARKING THE INlERSECTI
OF lHE NORTHEASTERLY RIQ-11 OF WAY LINE OF'

U.S. HIGHWAY 98 (FRONT BEAQ-1 ROAD) AND THE

NORiHWESTERLY RIGHT OF WAY LINE ot PDWEU. ADAMS ROADS AND PROCEED NORTH 32 DEGREES 18 MINUlES 66 SECONDS EAST, ALONG SAID NOR1HWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 724.66 FEET TO lHE SOUTHEAST CORNER OF' PROPERTY RECORDED IN OFFICIAL

?.
,.·
-
1
:..,
.,

PAACEL 33791-000-0DO 284 POWELL ADAMS MLUAU R. DOZIER ETAL
0.R. BOOK JUI, PACE 919

RECORDS Of BAY COUNTY, Fl.0RIDA. FOR THE POINT OF BEGINNING: 1HENCE L£AVINC SAID NOR1HWESTERLY RIGHT OF' WAY LINE PROCEED
NOR1H 00 DEGREES 40 MINUlES 09 SECONDS EAST, ALONG lHE EAST BOUNDARY LINE OF SAID PROPERTY, FOR A DISTANCE OF' 13,34 FEET;
lHENCE LEAVING SAID EAST BOUNDARY' LINE PROCEED NORTH 32. DECREE:S 19 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF' 816.00 FEET TO iHE SOUiHWESTIRLY RIGHT OF WAY LINE OF
L.C. HD.TON DRl'JE (88' RIGHT OF WAY); Tii£NCE SOUlH 57 DEGREES 59 MINU'IES 39 SECONDS EAST, FOR A DISTANCE OF 7.00 FEET TO 1HE INTERSECTION OF SAID SOUTiiYESTERLY RIGHT OF WAY UNE Vt1TH lHE NORlHV,ESTERLY RIGHT OF WAY LINE OF AFORESAID POWELL ADAMS ROAD: 1HENCE SOUlH 32 DEGREES 19 MINUTES 07 SECONDS 'A£ST, ALONG SAID NORTHWESTERLY RIGHT Of WAY LINE. FOR A DISTANCE OF 827.40 FEET TO THE POINT OF BEGINNING.
CONTAINING 5751.91 SQUARE FEET OR D.132 ACRES, MORE OR LESS.

RECORDS BOOK 32.n, PAGE 819 OF THE PUBLIC

SOun£AST CORNER
O.R. BOOK 3277, W.CE 919

POINT OF COMMENCEMENT NTERSECTK>N NORTHE'A5TERLY RIGHT OF WAY U.S. HIGHWAY 98

(FRONT BFACH ROAD) I TI£

NORllf#ESIERLV RIGHT OF WAY
POWELL AIMUS Ro,,o

PNWiC.\c:nY,FURDAaa40!i

-

DAW> JON BNmE11. P.SM.	IM1l' 1ilCNED
FiilRS!XWl,l .RRMD t IINffR Ht,. £Sf01B
SKa'CH OF DfSCRtPnON	IIRA¥ANG DAm l'RtlE&f NO.

PHON1i:

TEMPORARY CONSTRUCTION EASEMENT
SJC POWELL ADAMS ROAD
CJTY OF' PANAMA CJ1Y B&.CH
	BAY COU	Fl.O DA
F'B/PC:NA.

o+

2021

50104121

ZIDMfRl&NPMXWAY

..,_ en ·---t	t

D.B

W.VWJIEWIIERR\'.00M
D

FAlCl50.m.tou

APPRDVm en

S1

DESCRIPTION OF THE TEMPORARY CONSTRUCTION EASEMENT

The three-year temporary construction easement will encumber 5,751.91 square feet or
0.132 acres of the larger parcel. The acquisition involves a narrow strip ofland seven feet in width and 816 to 827.4 feet in length situated adjacent to the west right-of-way of Powell Adams Road. The only improvement within the temporary construction easement is grass which does not contribute materially to the value of the vacant land.

METHOD OF APPRAISAL
(Temporary Construction Easement)

The most common method of estimating the value of a temporary construction easement involves a discounted cash flow analysis or annuity capitalization approach. The market rent attributed to the area encumbered by the temporary construction easement is discounted over the term of the easement to derive a net present value estimate. The temporary construction easement will be imposed for a period of three years, and it will terminate upon completion of construction, if the date of completion of construction occurs prior to the termination date. The rental rate will be paid advance on a monthly basis.

RealtyRates.com publishes an investor survey which presents the results of polling 312 appraisal and brokerage firms, developers, investors, and lenders. The study published for the 3rd quarter of 2022 (2nd quarter 2022 data) suggests the land lease payments averaged 8.11% of the value of the property. The study states "generally, short term (one to three years) fixed rent periods auto adjust based on national reference rates such as the consumer price index, while long term (five to ten year) fixed rent periods are based on appraised values but are often subject to negotiation and/or arbitration." For the purpose of this analysis, the appraiser has estimated annual market rent at 7.50% of the per square foot land value for the larger parcel.

The discount rate applied to the market rent for the temporary construction easement will be derived from a "built up discount rate" by adding three percentage points for management, risk, and other elements to the interest rate on a treasury bill. The most recent three-year treasury bill rate was 3.45%. Using a 3.45% treasury bill rate plus 4% for management, risk and etc. yields a total discount rate of 7.45%, rounded to 7.50%. The discount rate for $1 payable in arrears at 7.50% over 36 months is 32.4179. Utilizing the aforementioned market rent, and discount rates, the value of the temporary construction easement may be calculated as follows:

THREE YEAR TCE VALUATION
FEE VALUE RENTAL RATE
AREA OF EASEMENT
DISCOUNT FACTOR (monthly)

COMPUTATIONS

$0.50 per square foot 7.50% of fee value 5,751.91 square feet
32.1479

FEE VALUE 5,751.91 SQUARE FEET@ $0.50	$  2,875.91	
TIMES PERCENTAGE RATE	X	7.50%	
ANNUAL RENT	$ 215.70	
DIVIDED BY 12 MONTHS		12	
MONTHLY RENT	$	17.98	
TIMES DISCOUNT FACTOR	X 32.1479	
TOTAL COMPENSATION	$578.60	
ROUNDED TO	$600.00	

SECTIONS 315 - 385 WERE INTENTIONALLY OMITTED

VALUE OF THE IMPROVEMENTS WITHIN THE TCE

Any improvements within the temporary construction easement which are damaged during the construction phase will be repaired or replaced by the contractor at no cost to the property owner.

COST TO CURE. IF ANY

The contractor will be required to replace any improvements within the TCE with similar or like kind materials.

SUMMARY OF THREE-YEAR TCE VALUES

VALUE OF THE LAND
VALUE OF THE IMPROVEMENTS COST TO CURE/ DAMAGES TOTAL VALUE OF THE TCE

$600
-0-
-0-
$600

ADDENDA

Legal Descriptions & Vesting Deeds

File# 2006009242, OR BK 2736 Page 629, Recorded 02/09/2006 at 11:32 AM,
Harold Bazzel, ClQrk Bay County, Florida	Deputy Clark GC Trans f 733644

PRpaNdby:
S,-,N.C11mmlap. Et.:i•lre PappuMC'lalrJeabA MIiier, P.A. 24:5 Rlnnlde AWGIIC, Salle 400 Jad;ae,..111e, t1erida 32212-ffO'J

SPECIAL WARRANTY DEED
THIS INDENTURE. made as of this 1!::_ day of {;ft,,.,.,c '2 , 2006, between THE ST. JOE COMPANY, a Florida co1poration ("Grantorj, having an address of 245 Riverside Avenue, Suite 500, Jacksonville, Florida 32202, in favor of PIER PARK COMMUNITY DEVELOPMENT DISTRICT, a special purpose unit of local government established pursuant to Chapter 190. Florida Statutes, ("Grantee"), whose address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614.
WJTNESSETH, that Grantor. for and in consideration of the sum of One Dollar and other valuable consideration, the receipt of which is hereby acknowledged. docs hereby grant, bargain, sell, and convey unto Grantee, its successors and assigns forever, the land, situate, lying and being in the County of Bay, Florida, more particularly described on Exhibit "A" attached hereto and made a part hereof (the ..Property").
SUBJECT TO: ad valorcm taxes, if any, accruing subsequent to the date of rccordation hereof; and all dedications, casements, rights and rcslrictions of record;
AND Grantor does hereby fully warrant the title to the Property and will defend the same against the lawful claims of all persons claiming by, through or under Granter, its successors and assigns, but not otherwise.

{This Space intentionally left blank}

100038SS9.DOC.61

OR BK 2736 PG 630

IN WITNESS WHEREOF, Granter bas caused these presents to be duly executed in its name and its seal to be hereto affixed by its undersigned officer thereunto lawfully authorized the day and year first above written.

Signed, sealed and delivered

ki

THE ST. JOE COMPA.W, a Florida
cmporation

By: 4'f.

Name:

Its:	Senior Vice Preslrlent

N. ReaaJi

	ef-	(SEAL)

Name:	Susan O Whitlatch

STATE OF FLORIDA

COUNTY OF DUVAL

by	MJcha@I N. Regan. the .r. 'f.t4  s, f THE ST. JOE COMPANY, a Florida
COIJ>Oration. He is personally known to me.

The foregoing instnuncnt wrr ac owW(f ed before me

of ,Jatf\	2006,

	h
NOTARY PUBLIC. State of

Commission#,	

Florida at Large

MCyommission Expires:-----

Personally Known_,,,,,--	
or Produced J.D. 	
[chedc: one of the above]
Tyne gf [dentificotioo Produced
 -t"""	---	

(00088.1S9.l>OC.61

2

OR BK 2736 PG 631

EXHIBIT"'A"
The Property
PRESERVATION AREA 2 AND STORMWATER POND 3A: (Survey No. E-1713)

COMMENCE AT THE INTERSECTION OF THE NORTH LINE OF SECTION 20, TOWNSHIP 3 SOUTH, RANGE 16 WEST. BAY COUNTY. FLORIDA AND THE WESTERLY RIGHT Of WAY LINE OF POWELL ADAMS ROAD (HAVINO A 66 Ff. RIGHT OF WAY); THENCE SOUTH 32°18'42" WEST. ALONG SAID WEST.ER.LY RIGHT OF WAY LINE, FOR A DISTANCE OF 833.62 FEET TO THE POINT OF BEG.INNING; THENCE CONTINUE SOUTH 32°18'42" WEST, ALONG SAID WESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 660,43 FEET, TO THE NORTHERLY RIGHT OF WAY LINE OF L.C. HILTON, JR. DRIVE; THENCE LEAVING SAID WESTERLY RIGHT OF WAY LINE. NORTH 57°56'12" WEST, ALONG SAID NORTHERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 293.77 FEET TO THE POINT OF CURVATURE OF A
CURVE CONCAVE TO nm SOUTIIWEST AND HAVJNG A RADIUS OF 380.00 FEET;
THENCE NORTHWESTERLY, ALONG SAID CURVING RIGHT OF WAY LINE, FOR AN ARC DISTANCE OF 168.73 FEET, SAID ARC HAVING A CHORD OF 167.35 FEET BEARING NORTH 70°39'26" WEST; THENCE LEAVINO SAID NORTHERLY RIGHT OF WAY LINE. NORTII 00023'26" EAST FOR A DISTANCE OF 17.58 FEET; THENCE SOUTH 89°23'00" WEST FOR A DISTANCE OF 15.90 FEET; THENCE NORTII 70°24'58"' WEST FOR A DISTANCE OF 47,48 FEET; THENCE NORTH 45°57'10'' WEST FOR A DISTANCE
OF 88.64 FEET; THENCE NORTH 03°00'00" EAST FOR A DISTANCE OF 60.S4 FEET; THENCE NORTH 09°15'12" EAST FOR A DISTANCE OF 62.38 FEET; THENCE NORTH 10°34'43" WEST FOR A DISTANCE OF 133.84 FEET; THENCE NOR1H 23°18'39" BAST FOR A DISTANCE OF 285.80 FEET; THENCE NORTH 57°24'10" EAST FOR A DISTANCE OF 176.78 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE TO THE SOUTH AND HAVING A RADIUS OF 132.75 FEETi TimNCE EASTERLY ALONG SAID CURVE FOR. AN AR.C DISTANCE OF 154.52 FEET, SAID ARC HAVING A CHORD OF
145.94 FEET, BEARING SOUTH 89°15'06" EAST TO THE POINT OF TANGENCY OF SAID CURVE; THENCE SOUTH 55°54'22" BAST FOR A DISTANCE OF 243.09 FEET; THBNCE SOUTH 57°05'23" EAST FOR A DISTANCE OF 288.8S FEET; THENCE SOUTH 23°47'12" EAST FOR A DISTANCE OF SS.63 FEET; THENCE SOUTH 57°41'18" EAST FOR A DISTANCE OF 25.18 FEET TO THE POINT OF BEGINNING.

LESS AND EXCEPT FROM THE ABOVE DESCRIBED PARCEL ANY PORTION OP THE FOLLOWING PARCEL LYING THEREIN:

DESCRIPTION OF
TARGET PORTION OF EXISTING POND 3A (PBS&J Sketcb and Drawing me No.
Target_S&D.DWG)

A PARCEL OF LAND LYING AND BEING IN SECTIONS 19 AND 20. TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY. FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

1000ll3S59.DOC.6}
3

OR BK 2736 PG 632

COMMENCE AT THE INTERSECTION OF TIIE SOUTHERLY RIGHT•OF•WA Y LINE OF
U.S. HIGHWAY !)8 (STATE ROAD NO. 30A) ALSO KNOWN AS PANAMA CITY BEACH PARKWAY AND BACK. BEACH ROAD (HAVING A 200 FOOT WIDE RIGHT..OF•WAY) WITH 1llE WESTERLY RIGHT..OF•WAY LINE OF POWELL ADAMS ROAD (HAVING A 66 FOOT WIDE RIGHT•OF•WAY); THENCE RUN S 32°18'42" W, ALONG THE WESTERLY RIGHT•OF•WAY LINE OF SAID POWELL ADAMS ROAD, FOR A DISTANCE Of 938.10 FEET TO TIIE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WESTERLY RIGHT OF WAY LINE, S 32°18'42" W FOR A DISTANCE OF
118.03 FEET TO A POINT OF NON•TANGENCY FOR A CURVE CONCAVE TO THE SOUTHWEST AND HAVINO A RADIUS OF 24.50 FEET; THENCE LEAVING SAID WESTERLY RIGHT OF WAY LINE. RUN NORTiiWESTERLY ALONG THE ARC OF SAID CURVE. 1HROUGH A CENTRAL ANGLE OF 12°18'09", FOR AN ARC DISTANCE OF 5.26 FEET, SAID ARC HAVJNG A CHORD DISTANCE OF 5.25 FEET AND BEARING N 51°32'36" W TO A POINT OF TANGENCY; THENCE RUN N 57°41'40" W FOR A DISTANCE OF 7.90 FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO THE SOUTHWEST AND HAVING A RADIUS OF 184.50 FEET; THENCE RUN NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 11°59'34", FOR AN ARC DISTANCE OF 38.62 FEET, SAID ARC HAVING A CHORD DISTANCE OF 38.55 FEET AND BEAR.ING N 63°41'27" W TO A POINT OF TANGENCY; THENCE RUN N 69°41'14" W FOR A DISTANCE OF 56.53 FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO THE NORTHEST AND HAVJNG A RADIUS OF 215.50 FEET; THENCE RUN NORTHWESTERLY ALONG THE ARC OF SAID CURVE. THROUGH A CENTRAL ANGLE OF 12°08'27". FOR AN ARC DISTANCE OF 4S.66 FEET, SAID ARC HAVING A CHORD DISTANCE OF 45.S8 PEET AND BEARING N 63°37'01" W TO A POINT OF TANGENCY; THENCE RUN N 57°32'48" W FOR A DISTANCE OF 366.46 FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO TIIE SOUTH AND HAVING A RADRJS OF 59.SO FEET; THENCE RUN NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF S1°38'12", FOR AN ARC DISTANCE OF 53.62 FEET, SAID ARC HAVING A CHORD DISTANCE OF 51.83 FEET AND BEARING N 83°21'54" W TO A POINT OF

i

TANGENCY; nrENCE RUNS 70°49'00" W FOR A DISTANCE OF 21.64 FEET; THENCE	i

I

RUNS 19011'00" E FOR A DISTANCE OF 10.00 PEET; THENCE RUNS 70°49'00" W FOR A DISTANCE OF 312.80 FEET; THENCE RUN N 23°18'47" E FOR A DISTANCE OF 235.49 FEET; TIIENCE RUN N 57°24'18" E FOR A DISTANCE OF 176.78 FEET TO A POINT OF

I

CURVATURE FOR A CURVE CONCAVE TO nm SOUTH AND HAYING A RADIUS OF	r

I

132.75 FEET; THENCE RUN SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 66°41'24", FOR AN ARC DISTANCE OF 154.52 FEET. SAID ARC HAVING A CHORD DISTANCE OF 145.94 FEET AND BEARINGS

I

8 14"58" E TO A POINT OF NON TANGENCY; THENCE RUNS 55°54'14" E FOR A	i

i

DISTANCE OF 243.09 FEET; THENCE RUNS 57°05'15" E FOR A DISTANCE OF 288.85	I
FEET; THENCE RUN S 23°47'04" E FOR A DISTANCE OF S5.63 FEET; THENCE RUN S	I
57°41'10" E FOR A DISTANCE OF 25.18 FEET TO THE POINT OF BEGINNING.	i
:I
I
i
i
100088559.'00C.6 I	f
4	1
I
i
l

OR BK 2736 PG 633

PRESERVATION AREA 3 AND STORMWATER RETENTION POND 3B:
(Sarvey No. E-1714)

COMMENCE AT THE JN'l'ERSECTION OF THE NORTH LINE OF SECTION 20, TOWNSHIP 3 SOUTH. RANGE 16 WEST, BAY COUNTY, FLORIDA AND THE WESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HAVING A 66 FT. RIGHT OF WAY); THENCE SOUTH 32°18'42" WEST, ALONG SAID WESTERLY RIGHT OF WAY LINE. FOR A DISTANCE OF 1SS4.04 PEET TO THE SOUTHERLY RIGHT OF WAY LINE OF L.C. HILTON, JR. DRIVE AND THE POINT OF BEGINNING; THENCE NORTH 57°56'12" WEST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, FOR A
DISTANCE OF 293.53 FEET TO nm POINT OF CURVATURE OF A CURVE CONCAVE
TO THE SOUTHWEST AND HAVING A RADIUS OF 320.00 FEET; TIIENCE NORTHWESTERLY ALONG SAID CURVING RIGHT OF WAY LINE FOR AN ARC DISTANCE OF 20.15 FEET, SAID ARC HAVING A CHORD OF 20.lS PEET, BEARING NORTH 59°44'27" WEST; THENCE LEAVINO SAID SOUTHERLY RIGHT OF WAY LINE, NORTH 71°05'56" WEST, FOR A DISTANCE OF 73.70 FEET; nIENCE SOUTH 87°50'50" WEST, FOR A DISTANCE OF 4S.94 FEET; THENCE SOUTH 61°45'14" WEST, FOR A DISTANCE OF 85.47 PEET; THENCE SOUTH 35°05'32" WEST, FOR A DISTANCE OF
41.45 FEET; THENCE SOUTH 1S000'22" EAST, FOR A DISTANCE OF 36.30 FEET TO THE SOUTH LINE OF THE NORTHBAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 20; THENCE SOUTH 86°1S'20" EAST, ALONG SAID SOUTH LINS, FOR
A DISTANCE OF 38.93 FEET TO nm SOUTHEAST CORNER OF THE NORTIIEAST
QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 20; THENCE SOUTH 00°39'3S" WEST, ALONG THE WEST LINE OF nm NORlHEAST QUARTER OF SAID
SECTION 20, FOR A DISTANCE OF 774.38 FEET TO SAID WESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD; THENCE NORTH 32°18'42" EAST, ALONG SAID WESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 826.11 FEET TO TIIE POINT OF BEGINNING.

PRESERVATION AREA 1-A (Survey No. E-1356, Sheet 2)

COMMENCE AT THE SOUTHWEST CORNER OF LOT 12, P.A. BLACK'S ORIGINAL PLAT AS PBR PLAT RECORDED IN PLAT BOOK 2, PAGE 36, OF THE PUBUC RECORDS ON FILE IN THE OFFfCE OF THE CLBRK OF THE CIRCUIT COURT OF BAY COUNTY, FLORIDA; 1HENCE NORTH 57°S6'2S" WEST, ALONG TIIE NORTHERLY RfGHT OF WAY LINE OF U.S. HIGHWAY NO. 98 (ALTERNATE), FOR A DISTANCE OF 1,478.02 FEET TO THE WEST LINE OF SBCTION 20, TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA; THENCE NORTH 00°40'10" EAST, ALONG SAID WEST LINE, FOR A DISTANCE OF 1477.92 FEBT TO THE NORTHWEST CORNER OF SAID SECTION 20; THENCE NORTH 01°33'11" EAST, ALONG THE WEST LINE OF SECTION 17, TOWNSHIP 3 SOUTH, RANGE 16 WEST, FOR A DISTANCE OF 2,130.31 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF U.S. filGHWAY NO. 98 (PANAMA CITY BEACH PARKWAY- HAVING A 200 Fl'. RIGHT OF WAY); THENCE SOUTH 69°52'52" EAST, ALONG SAID SOUTIIERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 421.96 FEET TO TIIE POINT OF BEGINNING; THENCE CONTINUE SOUTH 69°52'52" BAST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, FOR A

s

ICOOl8SS9.00C61

OR BK 2736 PG 634

!

DISTANCE OF 303.09 FEET; THENCE LEAVING SAID SOUTHERLY RIGHT OF WAY LINE, SOUTH 16°21'00" WEST FOR A DISTANCE OF 636.86 FEET; THENCE SOUTIJ 08°55'10" WEST FOR A DISTANCE OF 23.78 FEET; THENCE NORTII S7°56'25" WEST
FOR A DISTANCE OF 141.16 FEET; THENCE NORTH 01°33'1 I" EAST FOR A DISTANCE	i.
OF 664.17 FEET TO TIIE POINT OF BEGlNNING.
PRESERVATION AREA 4 (Soney No. E-1356t Sheet 4)
COMMENCE AT THE INTERSECTION OF THE soum LINE OF SECTION 17,
TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY. FLORIDA wrrn THE

l

WESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HAVING A 66 FT.	 i RIGHT OF WAY); THENCE NORTH 32°18'43" EAST, FOR A DISTANCE OF l04.47 FEET	; TO THE SOUTHERLY RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 98 (PANAMA	 ; CITY BEACH PARKWAY - HAVJNG A 200 FT. RIGHT OF WAY); TIIENCE NORTH	 : 54°11'52" WEST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, J<'OR A DISTANCE
OF 2.261.11 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE TO THE SOUTHWEST AND HAVINO A RADIUS OF S,661.65 FBF.T; THENCE NORTHWESTERLY ALONG SAID CURVING RIGHT OF WAY LINE FOR AN ARC DISTANCE OF 27.S1 FEET. SAID ARC HAVING A CHORD OF 27.Sl FEET, BEARING NORTH 54°20'13" WEST TO THE POOO OF BEGINNING; THENCE CONTINUE NORTHWESTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LYNE FOR AN ARC DISTANCE OF 463.17 FEET, SAID ARC HAVING A CHORD OF 463.03 FEET, BEARING NORTH 56°49'11" WEST TO THE END OF SAID CURVE; THENCE LEAVING SAID SOUTHERLY RIGHT Of WAY LINE, SOUTH 27°18'12" EAST, FOR A DISTANCE OF
118.81 FEET; THENCE SOUTH 13°22'25" WEST, FOR A DISTANCE OF 73.31 FEET; THENCE SOUTH 05°18'58" WEST. FOR A DISTANCE OF 136,63 FEET; THENCE SOUTH
09°10'15" EAST, FOR A DISTANCE OF S7.13 FEET; THENCE SOUTH 25°56'51" EAST,	 f FOR A DISTANCE OF 81.22 FEET; THENCE SOUTH 02°00'51" EAST, FOR A DISTANCE	: OF 54.91 FEET; THENCE SOUTH 15°32'41" EAST, FOR A DISTANCE OF 48.31 FEET;
THENCE SOtITH S6°07'16" EAST. FOR A DISTANCE OF 113.15-FEET; THENCE. NORnl 15°44'09" EAST, FOR A DISTANCE OF 70.18 FEET; THENCE NORTH 06°34'44" EAST, FOR A DISTANCE OF 77.0S FEET; TIIENCE NORTH 65°45'11" EAST, FOR A DISTANCE OF 67.86 FEBT; THENCE NORTH 29°S4'02" BAST, FOR A DISTANCE OF S8.13 FEET; THENCE NORTH 24°52'13" WEST, FOR A DISTANCE OF 44.60 FEET; THENCE NORTII 05°01'14" EAST, FOR A DISTANCE OF 33.19 FEET; THENCE NORTH 75°51'21" EAST, FOR A DISTANCE OF 97.09 FEET; TIIENCE NORTif 19°48'39" EAST, FOR A DISTANCE OF 3S.97 FEET TO THE POINT OF BEGINNING.
PRESERVATION AREA SA (Suney No. E-1356., Sheet 4)

COMMENCE AT THE INTERSECTION OF THE SOUTH LINE OF SECTION 17, TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA WITH THE WESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HAVING A 66 FT. RIGHT OF WAY): THENCE NORTH 32°18'43" EAST, FOR A DISTANCE OF 104.47 FEET TO 1HE SOUTHERLY RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 98 (PANAMA CITY BEACH PARKWAY - HAVING A 200 FT. RIGHT OF WAY); THENCE NORTH

IOOQSljS9.DOC.61
6

OR BK 2736 PG 635

S4°11'52" WEST. ALONG SAID SOUTHERLY RJGHT OF WAY LINE FOR A DISTANCE OF 2,261.11 FEET TO TiiE POINT OF CURVATURE OF A CURVE CONCAVE TO THE SOtrrHWEST AND HAVING A RADIUS OF 5661.65 FEET; THENCE NORTHWESTERLY ALONG SAID CURVING RIGHT OF WAY LINE FOR AN ARC DISTANCE OF 27.Sl FEET, SAID ARC HAVING A CHORD OF 27.51 FEET. BEARING NORTH S4°20'13" WEST; THENCE LEAVING SAID SOUTHERLY RIGHT OF WAY LINE. SOUTH 19°48'39" WEST, FOR A DISTANCE OF JS.97 FEET; THENCE SOlITH 75°51'21" WEST. FOR A DISTANCE OF 97.09 FEET; THENCE SOUTH 0S001'14" WEST. FOR A DISTANCE OF
33.19 FEET; TiiENCE SOUTH 24°52'13" EAST, FOR A DISTANCE OF 44.60 FEET;

65°45'11" WEST, FOR A DISTANCE OF 67.86 FEET; THENCE soura 06°34'44" WEST, FOR A DISTANCE OF 77.0S FEET; THENCE SOUTH 15°44'09" WEST. FOR A DISTANCE OF 70.18 FEET; THENCE SOUTH 06°27'18" WEST, FOR A DISTANCE OF 61.03 FEET TO THE POINT OF BEGINNING; THENCE SOUTH 03°22'12" WEST, FOR A DISTANCE OF
107.74 FEET; THENCE SOUTH 49°15'45" EAST, FOR A DISTANCE OF 32.27 FEET; THENCE SOUTH 89°54'50" EAST, FOR A DISTANCE OF 59.18 FEET; THENCE SOUTH 15°46'23" EAST, FOR A DISTANCE OF 51.68 FEET; THENCE SOUTH 27°04'10" WEST, FOR A DISTANCE OF 96.50 FEET; THENCE SOUTH 69°17'56" WEST, FOR A DISTANCE OF 37.59 F.EET; THENCE SOUTH 50°50'3S" WEST, FOR A DISTANCE OF 55.64 FEET; THENCE NORTH S7°56'25" WEST, FOR A DISTANCE OF 193.12 FEET; THENCE NORm 49°55'26" EAST, FOR A DISTANCE OF )6.75 FEET; THENCE NORTH 30°09'5S" EAST, FOR A DISTANCE OF 67.58 FEET; THENCE NORlll 33°29'26" EAST, FOR A DISTANCE OF 67.27 FEET; THENCE NORTH 08°15'56" EAST, FOR A DISTANCE OF 142.7S FBET: THENCE SOUTH S8°00'38" EAST, FOR A DISTANCE OF 106.26 FEET TO THE POINT OF BEGINNING.

THENCE soum 29°54'02" WEST. FOR A DISTANCE OF 58.13 FEET; THENCE soum

(OOCIS559.DOC61

7

File# 2006009245, OR BK 2736 Paoe 647, Recorded 02/09/2006 at 11:32 AM,
Harold BazzQl, ClQrk Bay County, Florida	OQputy ClQrk GC Trans f 733644

Prcpemlby,
SpaiurN.Olmmillt:II, lbqldre hp(laaMdcalJ'J1ub&Mlilcr,PA 145lillYlnlcfe A-11e,Sul 400
Jarma.tiic. Florid• 32202-4917

SPECIAL WARRAND:' DEED
THIS INDENTURE, made as of this J!:: day of k T'-»l :2  2006. between SIMON PROPERTY GROUP, LP., a Delaware limited partnership ("Grantor''), having an address of 245 Rivcisidc Avenue, Suite SOO. Jacksonville. Florida 32202, in favor of PIER PARK COMMUNITY DEVELOPMENT DISTRICT, a i;pccial purpose unit of local govcmment established pursuant to Chapter 190, Florida Statutes, ("Grantee"). whose address is
3434 Colwell Avenue, Suite 200, Tampa, Florida 33614.
WITNESSETH, that Grantor, for and in consideration of the sum of One Dollar and other valuable consideration, the receipt of which is hereby acknowledged. does hereby grant, bargain. sell, and convey unto Grantee, its succes.wrs and assigns forever, the land, situate, lying and being in the Co1mty of Bay, Florida, more particularly described on Exhlblt "A" attached hereto and made a part hereof {the ..Property').
SUBJECT TO: ad valorem taxes, if any, accruing subsequent to the date of recordation
hereof; and all dedications. casements. rights and restrictions of record;
AND Grantor does hereby fully warrant the title to the Property and will defend the same against the lawful claims of all persons claiming by, through or under Omntor, its successors and assigns, but not otherwise.

{This Space intentionally left blank}

1001%6160.00C.}

OR BK  2736  PG  648

IN WITNESS WHEREOF, Grantor has caused these presents to be duly executed in its name and its seal to be hereto affixed by its undersigned officer thereunto lawfully authorized the day and year first above written.

SIMON PROPERTY GROUP, L.P,. a Delaware
limited partnership

By:	y Group Inc., 11 Dela.ware
le general partner

(Sign.,_..,...+-Pi	­
(Print.,_<=!!J.F'.-C1E	t""-
David Simon
Chief Exocutive 0ffl.C81'

STATE OF :?i'Ni\'-"-""
COUN"IY OF  'f!\t-'!:\F::

	.the 	 CEf,.u,r	of Simon Property Group. Inc., a Delaware corporation. the sole general partner of SIMON PROPERTY GROUP, LP., a Delaware limited partnership.

The forcgoingjpttument w  acknowledged before me by'C)\vul >	

WITNESS my hand and official seal, thisltl-day of		2005.

- Eolll

(Print Name --L.I
NOTARY P-

RENEEFITlPA1RC1(

MariCl,OaCllb'

Statcof Commission#

at Large

Decomblr U.2011

MyCommi ion Expires:
Personally known	_
or Produced I.D.
(check one ofthc above]

Type ofldcntification Produced

(011126160.DOC.)
'lAO 1412346.1

OR BK 2736 PG 649

DESCRIPTION OF

I
l
EXHIBIT"A'"	I

i

Tbe Property	i

SIMON PORTION OF PROPOSED POND 3A	f
i
A PARCEL OF LAND LYING AND BEING IN SECTIONS 19 AND 20, TOWNSHIP 3	i'

I

SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA. BEING MORE PARTICULARLY	I DESCRIBED AS FOLLOWS:		t
I
COMMENCE AT TIIE INTERSECTION OF THE SOUTHERLY RIGHT-OF-WAY LINE OF

t

U.S. HIGHWAY 98 (STATE ROAD NO. 30A) ALSO KNOWN AS PANAMA CITY BEACH
PARKWAY AND BACK BEACH ROAD (HAVING A 200 FOOT WIDE RIGHT-OF-WAY)	'
WITH THE WESTERLY RIGHT-OF-WAY LINE OF POWELL ADAMS ROAD (HAVINO A

I

66 FOOT WIDE RIGHT-OF-WAY}; THENCE RUN S 32°18'42" W, ALONG THE	i
WESTERLY RIGHT-OF-WAY LINE OF SAID POWELL ADAMS ROAD, FOR A DISTANCE OF 1056.13 FEET TO A POINT OF NON-TANGENCY FOR A CURVE CONCAVE TO TIIE SOU111WEST AND HAVING A RADRJS OF 24.50 FEET; THENCE LEAVING SAID WBSTBRLY RIGHT OF WAY LINE, RUN NORTIIWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 12°18'09", FOR AN ARC DISTANCE OF 5.26 FEET, SAID ARC HAVING A CHORD DISTANCE OF 5.25 FEET AND BEARING N 51°32'36" W TO A POINT OF TANGENCY; THENCE RUN N 57°41'40" W FOR A DISTANCE OF 7.90 FEET TO A POJNT OF CURVATURE FOR A CURVE CONCAVE TO THE SOUTHWEST AND HAVINO A RADIUS OF 184.50 FEET; THENCE RUN NORTHWESTERLY ALONG THE ARC OF SAID CURVE, lHROUGH A CENTRAL ANGLE OF 11°59'34", FOR AN ARC DISTANCE OF 38.62 FEET. SAID ARC HAVING A CHORD DISTANCE OF 38.55 FEET AND BEARING N 63°41'27" W TO A POINT OF TANGENCY; THENCE RUN N 69°41'14" W FOR A DISTANCE OF 56.53 FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO THE NORTHEAST AND HAVING A RADRJS OF 215.50 FEET; THENCE RUN NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 12°08'27", FOR AN ARC DISTANCE OF 45.66 FEET, SAID ARC HAVING A CHORD DISTANCE OF 45.58 FEET AND BEARING N 63°3701" W TO A POINT OF TANGENCY; THENCE RUN N 57°32'48" W FOR A DISTANCE OF 366.46 FEET TO A POINT OF CURVATURE PORA CURVE CONCAVE TO THE SOUTH AND HAVING A RADRJS OF S9.50 FEET; TifENCB RUN NORlHWBSTBRLY AWNG THE ARC OF SAID CURVE. THROUGH A CENTRAL ANGLE OF 51°38'12", FOR AN ARC DISTANCE OF 53.62 FEET, SAID ARC HAVING A CHORD DISTANCE OF 51.83 F BT AND BEARING N 83°21'54" W TO A POINT OF TANGENCY; THENCE RUNS 70049'00" W FOR A DISTANCE OF 21.64 FEET; THENCE RUNS 19°11'00" E FOR A DISTANCE OF 10.00 FEET; THENCE RUNS 70°49'00" W FOR A DISTANCE OF 312.80 FEET TO THE POINT OF BEGINNING; THENCE RUN S 23°18'47" W FOR A DISTANCE OF 50.30 FEET; THENCE RUNS 10°34'35" E FOR A DISTANCE OF 133.84 FEET; THENCE RUNS 09°15'20" W FOR A DISTANCE OF 62.38 FBET; THENCE RUNS 03°00'08" W FOR A DISTANCE OF 60.54 FEET; THENCE RUNS 45°57'02" E FOR A DISTANCE OF 88.64 FEET; THENCE RUN S 70°24'50'' E FOR A

{00126160 IXlC-1
3

OR BK 2736 PG 650

DISTANCE OF 47.48 FEET; TIIENCE RUN N 89°23'08" E FOR A DISTANCE OF tS.90 FEET; THENCE RUN S 00°23'34" W FOR A DISTANCE OF 17.58 FEET TO A POINT ON TIIE NORTH RIGHT-OF-WAY LINE OF L.C. HILTON JR DRNE (HAVING A 60 FOOT WIDE RlGHT-OF-WA Y), SAID POINT ALSO BEING A POINT OF NON-TANGENCY FOR A CURVE CONCAVE TO THE SOUTH AND HAVING A RADIUS OF 380.00 FEET; TIIENCE RUN SOUTHWF.STERLY ALONG THE ARC OP SAID CURVING NORTH RIGHT-OF-WAY LINE, THROUGH A CENTRAL ANGLE OF 20°06'41", FOR AN ARC DISTANCE OF 133.38 FEET, SAID ARC HAVING A CHORD DISTANCE OF 132.70 FEET AND BEARING S 86°34'07" W TO A POnIT OF TANGENCY; THENCE CONTINUING

r

f
i
t

136.26 FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO nm NORTHEAST AND HAVING A RADRJS OF 470.00 FEET; TIIENCE RUN NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 4S033'21", FOR AN ARC DJSTANCE OF 373.70 FEET, SAID ARC HAVING A CHORD DISTANCE OF 363.93 FEET AND BEARING N 80°42'33" W TO A POINT OF TANGENCY; THENCE RUN N S1°5S'S3" W FOR A DISTANCE OF 16.16 FEET; THENCE, LEAVING SAID NORTH RIGHT OF WAY LINE, RUN N 28°36'44" E FOR A DISTANCE
OF 73.SS FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO THE SOUTHEAST AND HAVING A RADIUS OF 6S.0O FEET; THENCE RUN NORTHEASTERLY ALONG TI-IE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 2S016'37", FOR AN ARC DISTANCE OF 28.68 FEET, SAID ARC HAVING A CHORD DISTANCE OF 28.44 FEET AND BEARING N 41°15'03" E TO A POINT OF TANGENCY; THENCE RUN N 53°S3'21" B FOR A DISTANCE OF 343.50 FEET TO A POINT OF CURVATURE FOR A CURVE CONCAVE TO THE SOUTHEAST AND HAVING A RADIUS OF 26S.87 FEET; THENCE RUN NORTHEASTERLY AWNG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 16°55'39", FOR AN ARC DISTANCE OF 78.SS FEET, SAID ARC HAVJNG A CHORD DISTANCE OF 78.26 FEET AND BEARING N 62°21'09" B TO A POINT OF TANGENCY; THENCE RUN N 70°49'00" E FOR A DISTANCE OF 128.31 FEET TO THE POINT OF BEGINNING.

ALONG SAID NORTII RIGHT-OF-WAY LINE, RUNS 76°30'47" W FOR A DISTANCE OF

!

t
I
l
i
I
I
i

!

:I

I
i
l

[00126160.DOC.I

4

Page 171

Bay County Property Appraiser's Tax Records

S112/22 9:00 AM

QPuDl1c.nel. Bay County, FL- Report: 33750-100-000

Bay County Property Appraiser - Dan Sowell, CFA

.laln Df!la: I 8(,0 W. I llh St, '.Po.Mm'- Chy, fl :1240 I I 8:\0-'24R•840 I

Ber.th Office I 301 Rkh11td .Jf.Won UJvd, Pruu1,.:r.lt Chy Ber.ch. JtL J2-4U7 I t;S0,:2.4ii, !:W70

ParcelSummary
Pared ID
Location

s,1 ,

Acidness

33750.100-«lO
POWELLADA	,SNO
PANAMAClTVBEACH 32413

203S16W-1.l0- 29D1 "PilESAR£A2& STRMWATERPOND 3ALESS TAAGCTP'T OF PCNDJA" DESCAS:COMINT NLINESEC20 & WLYRMI POWELL

TaxOocr1pt1on• ADAMSROTH :N/LY &33.62' FORPOD il-1CONTSWl.Y 660.43"NWLY 293.77'NWLY 168.73' NELY17.S2' WlS.90'NWLY<7;<8' NWLYS8.64' NELV

605"' NEIY62.38" WLYtJJ.84 NELV285.S(nELY176.78'ELYl54.S2'5ELV2◄l.09'SELY288.l!S' SUV55.63'SEIY 25.1810 POB LESS-l.11· ... ANO'"'

Property Use
Cod• 5«/Two/Rna Tax o:strlc.1 2021Fln,!
MlllageR.lt:e Ac:r aie liomc1tc1d

"PRESAREA3& STRM WATERRETPOND38"'DESCAS.CO..._I.N, T0 NLIN Of SEC20S WLYRJ\V PCVIELAOAMS AO'THSWLV l'iS -04'FOR P091)-1
NWI.V293. ' NWLV 20.15 NWI.Y73.70'SwtY 45.94' !iNILY8S.47'SW1V 4 IAS'SElY 36.30 TOSLINECX: NEl/4NW1/4 iH E 30.93"S 774.38' NELY
826.11' TOPOOORD2736P62?,(SVDJT09ELLSOUTHE5MTORD34Jl PS?t&ORB3477 ?o64SUDJ10 ESMNTOR8345l P209i
"Theiptioo Jbove , not tobeusedon leg.,1dotm1t1tnh,
NOAG ACRE (009900)

20-3S-l6W
City of P,ltl'am,i City ee
10,61 6

4Dklfkt 13)

t2.167
N

l/!nU:1l11
Owner Information
PrhnaryOwf'lcr

343'4 ColweVwo i 200
- Fl33614

Valuation

Bullc!tna;V.atuc Extnfi!aturesV:JIUC LMKIValue
Lind Agrku lutJJV.11!.. Agrl:iiltur.JJ(MaricctlV•l.ze Just (Market) ½ilue Assessed V.ilu.i
£)1etllJ)l V lue
T.l!QbleVslue
SaYCOur Homts °'AGLAmount

20'22WorkIncV.ilue5 2021Cert/hedV.llues 2020CertihtdVafuu
so	so	so
so	so	so
s12	512	S12
so	so	$C
so	so	$0
512	$12	$12
S12	512	S12
H2	S12	so
so	so	$12
so	10	so

Ju!I(Mtuice:l) Value deu:rlpt!on•Thislsthevalue oibtf!.hcd l,yrne PropertyA,Jpral rforadvelorempurposes. Thlt.value	notr present,,n1leparM,:lll Jlrlte.

Land Information
Code	Land U1e
009600	WASTELAND
009600	W •ELANO

NumberotUnits
6.09
6.10

Unit Type
AC AC

Fronc:ace
0

Sales
Multi
Parcel
V

Silt-
Sa'.cOatc	Prke lmhvmi:nt Book Pa1e Qv1llflcallon Vac,nVlmproved

02/07/2006	so

WD

llit! ill

UnQUJlihcd
(U)

V.;iunt

"

l2/16J700"l	so

Cf	ml! lli;J  Unqu.olfted

V.aant

:u1

Gnntor
THESTJOf COMPANY iHESTJOE COMPANY

Grantee PIERPARKCOMMUNITVDcVELOPMENT DISTRICT
STATI:Of Fl.ORIDA OEPTOF HIVIRONMENTALPROTI:C

https://qpublic.schneideroorp.comlapplication.aspx?ApplD=83A&LayerlD=15170&PageTypelD=4&PagelD=6B25&O"434381757&KeyValue=33751l-10..    1/2

8112/22. 9.00 AM

qPul>lic ne1- Bay County. FL• Ropon 33750.100.000

Map

I  I

r  o  ti

(jl)PR.Privac't.!:!2!.iit
u,1w, uo;o."1·R112oon 4M.36A\,4

n11ps:/tqpul>bcse11nt1csercorp.can/appllcoli0/I  upx?Appj0=834&Leye,I0,,15,70APageTypei0,,4&PegeID;S825&O:A34381757&l<ll'y\lalue•33750-1O	212

Page 174

Bay County Property Appraiser - Dan Sowell, CFA
J M1<ln Office I 860 W. lJth St,P1U1ama C[ty, FL 32401 I 850-248•8401
i	Bench Office f 301 Rlcho.rd Jackson Blvd, Ponnmn City Beach, FL 32407 I 850-248-8470

Overview

Legend
0 Parcels
Ill 2022 ImprovedSal
D 2022Vacant5ales

Parcel ID ClassCode Taxing District

33750-100-CXXl NOAGACREAGE 13 PANAMACITY BEACH
12.187

Owner

PIERPARKCOMMUNITY DEVEL DIST
3434COLWELL AVE# 200
TAMPA.FL 33614
POWELL ADAMS RD

Last 25ales
Date

Pdc.e Reasoo

2/7n006  0

12/16/2002 0

Qual
u
u

Acres

Physical Address Just Value

QUAL/PHY PROPCHGD AFTER SALE UNQAUL/CEMETARY LOTS/PARCELS

Value$12

MLS

(Note: Not to beused on legal
documents)

D.itecreated:8/12/2022

0.Veloped by"-.., t1,mi

LUI0, .. Uplo,ded:8/12/2022S.09-.36AM

Page I 75

6112/22, 9:07 AM

qPubhc nel - Bay Coonty, FL - Repon: 33750-130-0D0

.	Bay County Property Appraiser - Dan Sowell, CFA
; l.lalnOfflcc 1860W, lllhSt.,Po1U'lm1t.Chy,FL!1240t I R 0-24R•840I
. lknch Of!it-c I 301 Rid:.u-d Jt.ek:son BJvd, Pwwll Cltr Deneb, P J24U7 I d5U·2 d-!;.11'l0

Parcel Summary
PJtCCI10	33750-130·000
Loc Uon	15590 T.L.C, HILTON JRO
Adc!,eff	PANAM,\CITYBEACH3 413

Britt

20 3516W ·1.13· 2901-sIMCN PORTION Or PROPOSED POND3A' DESCAS, COMATTHEINTSLY rw,PCBPl(WY& WLY R/WPOWELLADAMSno

Tu Oocrlptlon• TIISWLY 10S6.13'NWLY 5.26'NWLY7.90'NWLY 39.62'NWI.Y56.S3' NWI.Y 5.66'NWLYJ66A6' NWLY53.62SWLY 21.64'SELY JO'SWLY Jl2.80'FOR
PCB fHSWLY SO.JO' SELY 133.84' SWLY62.38' SWLV 60.S4' SELY 68.64' SELY47AS' E15.90' SW17.58'SWLV133.38SWLY3b..26'NWLY373.Ja NWU'
16.16' NE.LY73.8S' NELY 28.68' NELY 343.SO' NELV 78.55'NELY 12aJl'TOpoaORB 2736? 647!SUBJTOBElilOUlli ESMTCRB 34:Jt P 591 S 0118
3'177 P064SUllJTOESMNTOR0 3-151P2097SUBJTOGPESMTORO3499P763
"lhe 0=.criptlon Jbovch nottot),CI.JC!don ltp1d0<um1'1ll .

Property Use Code Sec/TwplRnc TuOiatricl 2021Fln I
Mlll,ae Rate
Aa. ...
Homeue«S

WA5T'EIAND/ (009000)

20·3S-16W
Citvof PM'l maCit 6eM:h<Oistric.t t:JJ
100120

3,'160
N

Owner Information
PrhNryOwm-r
pl-rp ,1ccn,.,,,outt	
3434Cd "?'lAwr'200
1lJIT'IJli1.H3361¢

Valuation

BuildinJV4lue Extro)Feat V•lm: LandV:iilve
L4nd Ae,kullut'II Value A,grk.ultt1ri1I(Markct)V.alue Ju t ( rket) Vatue AJsened \',1!ue WrriaValut DX3bltValue
5.Jve Out HcntsorAGLAmount

2022won:r Value$  202LCcr11ticdVa!ucs  2020Certif\ed Values
so	10	so
so	so	so
SJ	SJ	SJ
so	so	so
so	IO	so
$3	$3	$3
SJ	SJ	SJ
$3	SJ	so
so	so	$3
so	so	so

Just ("'iafket) V.llutt"deuription •Thi, i, tl1t:v.looe5tabi'!thed byUic Property Appr.UCr tor ltd"' brctnpurpo TI1is 11aloedoes not repres::nlantl(:..pilted sellinQ priie.

Land Information
Codo	LaodUu,
00 600	WASTELAND

N1Hnl>er cl Unfts
3.46

UnilTypv
AC

DIVlh
0

Sales

Sale
Sa!cDltc	Pr/,c lnstromcnt Cook P•cc QU11!ftcatlcn Viunt/lmprovcd

02107/2006

SO	WO	ll.:!/i c:.:2 u,,.-,,,h,d
(U)

y.,_

Grantor	Gr,ntec
SIMON PRO?tRTY	PIER?A KCOMMUNITY OCVuOPMENI GROUP.LP		OISTRJCT

hrtp•Jiqpublic.schneideroorp.com/application.aspx?ApplD•834&1.ayerlD815170&PageTypelD"-'l&Page1D•6B25&0°1959281587&Key\/aluesJ3750-1...  1/2

Page 176

8/12/22, 9.07 AM

qPullllc.net. Bay Couniy FL• Report 33750-tJO.OOO

Map

I  I

CiJ)PQ Pr;,..,cv'lo1ics
lfll Pm1/0lp,,;t: RJJZQQZ? 129;3AA 

w

hltps://qput>Uc.scM•ld<lrcorp.com/application,asp,c?Appl0=8    8La-,wIo=tS170&PaiieTypeI0=4&Paget0=682S&.0=1959281587&Kfr/Value:33750-1	212

Page 177

Bay County Property Appraiser - Dan Sowell, CFA

Main Office I 860 w. l llh St, PMwna cfty, FL 32401 I 850-248-8401
Bench Office I 301 Richard Jackson Blvd, PMo.ma City Bcocb. FL 32407 I 850-248-8470

Overview
\

0 Parcels
CJ 2022lmprovedSol
0 2022VacantSales

Parcel ID	33750-130-000	Owner
ClassCode	WASTELAND/DUMPS
Taxing	13
District	PANAMACITY

PIERPARK COMMUNITYDEVEL DIST
3434COLWELL AVE #200 TAMPA.Fl33614 15590T.L.C.HILTONJRDR

last 2Sales

Date

Price Reason

Qual

2/7/2006 0

QUAL/LEGL CHAR CHGDAFTER U SALE

Acres

BEACH 3.46

Physical Address Just Value

n/a MLS

0	n/a

n/a

Value $3

(Note:Not to beused onlegal
documents)

c.-,elopedby"'

Ol>te aeoted: 8/12/2022

Lut D,u Uploaded:8112/.!022S09-.36AM
b'mfl [

Page J  78

Conservation Easement

8130/22, 10:40AM

Landmark "9b Offlclal Records Search

F 1e # 2003010210, OR BK 2238 Pago 2313, Raaoxdod 02/13/2003 at 09:17 AM,

Ha=o1d Ba:se1, 01e=k  Bay County, F10=1da	Deputy cio:k DS Tzan.e * 529731

Prcpan:d by; Sharon R. Pmb Senior Counsel
Th11 SL Joe Comp11ny
1650 PmdemiAI Drive, Suite 400
JCICksonville, florldll 32207

CONSERVAT[QN EASEMENT

..Dec..eMWC 2002. by THE ST• .JOE CO.MPANY. 1650 PrudcntiAl Drive. Suite 400, Jacksonville, Florida 32207 (..Gnmtor") to the STATE OF FLORIDA D.EPARTMENT OF ENVJRONMENTAl, PROT1':crlON, 3900 Commonwealth Blvd.• Tallahassee, Florida (''Gmntcc..'').

This conscrvLltion casement ("Conservation Easemcn,..) is Bivc.m this day of

WJTNJ::SSETH·
WHEREAS, the GrantDr is the owner of certain lands situatod in Bay County. Florida, hereinafter referred to as the "Property" more speci(ically described in Exhibit •·A•• attached hereto and incorporated herein by this reference; and
WHEREAS:Grantor has requested and Grantee has issued that cen.'lin Florida Department of
Environmental Protection permit number 03-0190081-001-DF (the ..DEP Pennit"); and
WHHR.BAS, Grantor has requested and the United States Anny Corps of Engineers
{..ACO.B"') hu issued that certain ACOE permit number 199900907 (IP-K.DO) (the"ACOE Permit") (lho DBP Permit together with the ACOE Permit shall hereinafter bereferred to as the ••Pcnnils..); mid

WHEREAS, Grantee and ACOE have issued the Pennils pursuant to the rcquiremems of federal and st11tc laws, rules and regulations conditioned on Orantor granting this Consr:rviition Easement over the Property; und
WHEREAS. Gmntor hastho Cull right und authority to srant this Conservation Eoscm.cnt.
NOW THEREFORE. the Orantor for nnd in considerolion of the issuance of tho Permits, herebygrants, creates and establishes a perpetual conservation casement upon the Pmpcrtydcscribcd in Exhibit ..A••, which shall run with theland and be binding on lhc Grantor. hs heirs, successor» find asaisns.

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223s PG 2314

The scope, nlUW"c and character e>(this Consc.	,at.ion .6.asc:mcnt shnll bo aa follows:

l.

It is the purpose and intent oftbls Conscrva.tion Ecscmcnt to assure that the subject

lands (with the exception of included wetlands which ma to be enhanced ur created as spc::cific:d in the wormncntioncd Permit) will be retained forever pn:dominantly in the natural vegetative and hydrologic condition existing ar the time of execution of this Conservation :Easement.

Except fbr such specific activities as authorized pursuant to this Conservation
Easement and tha Permit, the following activities arc prohibited on the Property:
Con&uu.ction or placing or buildings. n,nwi. sil{nS, bl11boards or otller
uuvcrtlsing. utilities, or other structures on, Wldcr, or above the ground

b.

Dumping or placing of soil or other substances or material Wi IIIJldlill. or

dumping or placing oftrush, waste or unsightly or ofrcnslvc materials

c.

Rcmovw or destruction of trees, shn.abs, or other vegetation. with the

c.'lcc_puoo ofnuisaru:c and exotic plants und as may be rc:quircd by Gruntcc;

d.

Excavuring, drcdgins, or n:moviag Joam. pcllt, aravel, soil, mck or other

material substnnce in such manner as to affect or disturb the surfaco of the ground;

c.

Surface \lSC cxccpa for purpoaus lhut pcmtit the land or wuaer area to remain

predominantly in its"natural condition:

f.

Activities detrimental lo drainasc. flood control, water conscivation. erosion

control, soil conservation. or fish and wildlife habitat preservation;

g.	Acts or uses detrimcmal to such oJbremcntioncd n:tendon and maintenance or
land or woter a.rcas;

h,

AGt5 or uses detrimental to the prc1C1Vation of any features or aspects of the

Property having hi&torfca1 or archaeo!oglcnl signlffconcct; and
i.	Tho uso or All-Terrain Vahiclcs.
II ia 11nclerstood thut the granting of thi11 Conservation Eusc1ncnt cntill1:11 the Grantee oc its authorized rcpN&cntatlvcs to enter the Propcny in n reasonable manner and at rcascrumlc times to assure compliance.

recorda2.tia)"CCClark.corrJRecorcllnglsearcMnC!ax?thema=.tilue&sedlcnasearcl'ICrllar1aBookPage&qulckSaarcnSeleetl0n11#

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2238 PG 2315

3.

The following 11c:tivitics ArC spcciftcnUy authorized on the Proper1y!

a.

Fira nghting or fire suppression oclivities;

b.

Machine clearing of firo lines/fire bl"Cllks u part of conll'Olled bum aclividcs.

Ore nstnlng, or fire suppression;

c,
d.

ln&lall:stioa of fcnc:c:s for land management or hllbiwt protection pw-poaca;
Removw or extermination of nuisance or exotic animal species;

e.

Huntins of deer, quail and other indigenous nnimal species pursuont to

properly issued hm1tlng pc:nnhr,

f.

Installation or signs for J11nd management. facilito.&ing passlvc rec:mitlon or

habitat protection purpoacs;

g.
h.

Maintenance of existing unpaved tnlils;
Installation of trails in upland arcns and intmprctivo signs for naturo r.rails;

i.

P'1ftivc rclffl:lltiorw uses such as bird wiw:hins. hiking. nature wnlks. etc.;

j.

Installation of aerial boardwalks. andsafety lighting11SSOCiatcd therewith. but

only as pcnniUcd DDd authorized by the Grantee prior to commencement of £iOnstruction. in
accordance with thestandards ofihc Grantee tbr ailing, design, construction. and permitting. and;

k.

Those uses allowed under the terms of the Pcrmita.

4.

Orantor reserves to itself, its heirs. successors or asslsna an rights as owner otthc

Property including the right to engage in all usca of tho .Property thld are not expressly prob.&"blted herein and arc not inconsistent with the pwposo of this Conservation Easement.

5.

No right of access by the general public to 1111y portion of tho Property ia conveyed by

this Conscrvm.ion .Easement.

6,

Tho Onm&or on bcbalfofimclfand lts succeasors or uaisna hereby agrees to boar all

eoaa.1111d Ji:sbilU.y rctaUns to tho operation and moJ.ntcnanco of the lands subject to this Conservation Eucmcnt In the natural vegetative D.Dd hydrolosic condition existing at the limo ofwcccution of this CoD1CtVation Eucmcnt. including lhemafnccnon1:cof enhanced or cnmtcd wotlands in the vcsctaUvc and hydrologic condition required by the afurcmcntiODedpc:nnii. andOrmrtor docs bcn:byimlcumi.ty Gnd hold himnlcaa the Grantee from same. Nctwitbstandiogonything to thc:contniryhcrcin,Onu:itat

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2238 PG 2316

shall not be lillblc for iinyd.mTuagc to the Property caused by flrc. flood.sinkholo or other acts ofOod.

7.

Otarnor agrees to pay any and all real property twc.es and assessmonls levied by

competent authority on lhc Property.

8.

The terms and conditions of this Conservation Easement may be unforced. by the

Grantee by h\junctivc relief and other 11ppropriatc available remedies. and Grantor consents that venue for such enforcement actions shall lie exclusively in the ctirctdt coun of the Secaru1Judieilll Circuit in Leon County. Florida. In any enforcement action In which the Grantee prevails. Oruntcc sholl be cnLillcd to recover cow, jncluding expert witness fees, aa well as the n:uonablc c:oat of reGtoring the 11111d. to the natural vegetative 11r1dbydrologiccondition existi:\8at the timcof cxccutian of" this Conservation BBSCmcnt or to the vegetative und hydralogic condition required. by the afOTe1T1entioncd permit. These rcmcdjea IU'C in Addition to any other remedy, firn: 0r penalty which mayba applicable under Chapter 403, Florida Statutes.

9.  Any forbearance on behalfofGrmttcc to cxc:teise its rights hereunder inthe event of any breach hc:reofby Orantor, its heirs. succe»sora, pcnonal rcprescotativesor assisns shall not be deemed or construed to be a W(liver of Orontce's right$ hereunder in the event or a sub1111qucnt breach.
IO. Qrantcc agrees tha.t it will hold th.is Conservation Easement exclusively for conservation pwposca uad dwt.il will not wis.iJpi itu rightu and obligations under this Co.nscrv11tion Easement c:xccpl lo another orpni:mtion qwli6cd to hold suoh interests under the npplicablcs saatc and federal l11wa and committed to holding this Conservation Easement mccluatvclyforcamservation pwposcs, mid only with Gmntor's prior exprcH written conscnL

11.

Ir any provision or this Conin:rvation Easement or the application tbtm:of lo any

pcaon orcircwnstani:cs is founcl to be invalid. the n:malndcr oflhe provisions o(tbls Conscrvmion Easement and the application of suc:h provisions to persons or circumstances other lhon those as lo which it is fbund to be Invalid shall not be affected thereby.
12. Grantor agrees that the tcrm11, conditions, restrictions and purposes of this Conservation Easement shall be recorded at Grantor"s cosl in lhe Official Records of Bay Counly, Florida. and shall be included in any subsequent deed or other legal instrument bywhich thcOrantor diVCGts itself of any interest in lhc Property.

13.

This conservation eagcment may be amended, altcl'l:d. rclc:ased or revoked only by

written agreement between the parties hereto.

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TO HAVE AND TO HOl.O unto Omntco.its succes&ors and assigns forever. The covenants. tC!J'ffl5, conditions, rcatrlction& and purpose• imposed by thisConaervation Easement shall be binding upon Gt'antor lts agents, personal rcprcaenlntivcs, heirs, 115sisns and all other successars to it in int.crest and shall continue AS n servitude running .in perpetuity with tho Propcey.
Witness:	Grontor:
THE ST. JOE COMPANY. a Florida.
corpor1uion

(SEAL)

STATE OP FLORIDA
COUNTY OF DUVAL

COMPA.""i'Y, A Florida corpoon, onbehalf of said corporation. He Ja personally known to me.

2002, by  /Lti	Ill,  o		us 	 f/4U: fr«tid'Wf:	of THE ST. IOK

Tho ;:Jinstna ent wasw:lcnowled ore mes -1.JJ:.""ay of	,l>eta11ttb •C,
.

 L-	,I	

Notary Pubhe, State of Florida at Large	A_.. '.JI

...St!Na J.umn6

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2238 PG 2318

PRESERVATION AREA 1-A
COMMENCE AT THE SOUTHWEST CORNER. OF LOT 12. F.A. BLACK"S

TFIB PUBLIC RECORDS ON PILE IN THE OFFCCE OF nm CLERK OP THB

ORIGINAL Pl  T AS PER PLAT RECORDED JN PLAT BOOK 2. PAOE 36, OP

CIRCUIT COURT OF BAY COUNTY, FLORIDA; THENCE NORTH 57"56'2S" WEST, ALONO THE NORTHBRLY RJOHT OF WAY LINE OF U.S. HIGHWAY NO. !18 (A LTR.RNATE). FOR A DISTANCB OF 1.478,02 FEET,.TO TH£ WEST LINE OP SECTION 20. TOWNSH.nt J SOUTJI. RANCE 16 WEST. BAY COUNTY. FLORJDA; TIIENCB NORTH 00°40'10" EAST, ALONG SAID WEST LINB, FOR A DISTANCB OF 1477.92 FEET TO THE NOR.THWBST CORNER OF SAID SECTION 20; THENCE NORTH 01°33'11" BAST, ALONG THE WBST LINE OF seCTION 17.TOWNSHIP 3 SOUYH. RANGE 16 WBST, FOR A DISTANCJ! OF 2,130.31 FEET TO THE SOUTHERLY RIGHT OP WAY LINE OPU.S. HIGHWAY NO. 98 (PANAMA CITY BEACH PARKWAY- HAVING A 200 FT. RIG:f-IT OF WAY); THENCE SOUTH 69°52'52" !::AST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 421.96 FEET TO THE POJNT OF BEGINNING; THENCE CONTINUE SOUTH 69'"52'52" EAST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE. FOR A DISTANCE OF 303.09 RET: TH.ENCi! LEAVING SAID SOUTHBRLy RIGHT OF WAy	soum 16°21'00" WBST FOR A DISTANCE OF 636.86 FEET; THENCE SOUTH 08°SS'10"
WBST FOR A DISTANCE OF 23.78 FE.ET; THENCE NORTH 57°56"25" WEST FOR. A DISTANCE OF 141.16 FEET; THBNCENORTH 01°33'11" EAST FORA DISTANCE OF 664.17 1-"EET TO THE POINT OF BEGINNING. CONTAlNlNG
3.197 ACRES.MORE OR LESS.

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2238 PG 2319

PRESERVATION AREA 2
COMMENCE AT THE INTERSECTION OF THE NORTH LINB OF SECTION 20. TOWNSHIP 3 SOUTH. RANGE 16 WEST. BAY COUNTY, FLORIDA AND THE WESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HAVING A 66 FT. RIGHT OF WAY); THENCE SOUTH 32°18.43" WEST. ALONG SAID WESTERLY RIGHT OF WAY LINE P'OR A DISTANCE OF 994.67 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE SOUTH 32°1&•43" WEST, ALONG SAID WESTER.I.Y RIGHT OF WAY LINE, FOR. A DISTANCE OF 499.37 FEET TO THE PROPOSED NOR.TH RIGHT OF WAY LINE OF ROAD ..N'; THENCE NORTH 57°56.ll" WEST, ALONG SAID PROPOSED NORTH RICiHT OF WAY LINE FORA DISTANCE OF293.77 FE!ITTOTHE POINT OF CURVATURE OF A CURVE CONCAVB TO THE SOUJ'RWBST AND HAVINO A RADIUS OP 380.00 FEET; THENCE NORTHWESTERLY ALONG SAID CURVE FOR AN ARC DISTANCE OF 35.35 FEET SAID ARC HAVING A CHORD OF 35.34 FEET, BEARING NORTH 60"36•06" WEST; THENCE 'NOR.TH 22°S6'20" WEST, FOR A DISTANCE OF 118.17 FEET; THENCE NORTH 01°04'31" EAST, FOR. A DISTANCE OF 67.0 I FEET; THENCE NOR.TH 18°24'59" WEST, FOR A DISTANC:E OF 41.6S FEET; THENCE NORTH 11"01'37" WEST, FOR A DISTANCE OF 88.62 FEET; THENCE NORTH 07°10'43" EAST, FOR A DISTANCE. OF 72.5.9 PEET; THENCE NORTH 26°15'02" EAST, FOR A
DISTANCE OF 91.09 FEET; TKP.NCE NORTH 70°49'00" EAST. FOR A DISTANCE OF 41.85 FEET; TIIENC.E SOUTH 70"20'19" EAST, FOR A DISTANCE OF 110.65 FEET; THENCE SOUTH S0039'38" EAST, FOR A DfSTANCE OF 82.46 FEET: THENCE SOUTH 83°20'14" EAST, FOR A DISTANCE OF 33.SS FEET; THENCE SOUTH 07°52'48" EAST. FOR A DISTANCE OF S0.89 FEET; THENCE SOUTH 81°SS'0S" EAST, FORADISTANa OFS0.96 FEET; THENCE SOUTH 80°22'49" EAST, FOR A DISTANCE OP 46.06 FEET; THENCE NORTH 72°36'14" EAST. FOR. A 'DISTANCE OF 56.73 FEET; THENCE SOUTI-168°51'4S" EAST, FOR A DISTANCB OF 33.79 FEET; THENCE SOUTH 35°46'07" .EAST, FOR A
DISTANCE OF 47.43 FEET; THENCE SOUTH 82°21'03" EAST, FOR A DISTANCE OF 42.0S FEET; THENCE SOUTH 77°12•54" EAST. FOR DISTA.."1CE OF S1.9S FEE'J; THENCE SOUTH S2°S4'47" EAST. FOR A DISTANCE OF 28.01 FEET TO THB POINT OF BEGINNING. CONTAINING S.263 ACRES, MORE OR LESS.

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2238 PG 2320

PRESBRVATION AREA 3
CO.MMENCE AT THB INTERSECTION OF THB NORTH LINE OF SECTION 20, TOWNSHIP 3 SOUTH, RANGB 16 WEST, BAY COUNTY, FLORIDA AND THE WESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HAVING A 66 FT. RIGHT OF WAY). THENCBSOUTH 32818'43" WEST, ALONG SAil) WEST.ERLY RIGHT OF WAY LINE. FOR A !:>ISTANCE OF l,S54.04 FEST TO THB PROPOSED SOUTH RIGHT OF WAY LCNE OF ROAD "A.,; THENCE NORTH 57°S6'12" WEST, ALONG SAID PROPOSED SOUTH RIGHT OF WAY LINE, FORA DISTANCE OP 261.71 FEET TO THE POINT OF BEGINNING;

NORTH 57°56'12" WEST, FOR A DISTANCE OF 31,80 FEET TO nm POINT OF CURVATURE OF A CURVE CONCAVE TO THE SOUTHW6ST AND HAVlNCi A RADIUS OF 320,00 FEET; THENCE NORTHWESTERLY ALONG SAID CURVING RIGHT OP WAY LINE FOR AN ARC DISTANCB OP 20.lS F.EBT, SAID ARC HAVING A CHORD OF20.15 PEST, BEARING NORTH 59"44'.27° WEST TO THE 2ND\OF SAID CURVE; THENCB LEAVING SAID PROPOSBD SOUTH RIGHT OF WAY LINE, NORTH 71°05'56" WEST, FOR A DlSTANCE OF
73.70 FEBT; THENCE SOUTH 87°S0'50" WBSTi FOR A DISTANCE OF 4S.94 FEET; THENCE SOUTH 61°4S'l4" WBST, FOR A DISTANCE OP 8.5.47 FEETi THBNCI! SOUTii 35°05'32" WEST, PORA DISTANCE OF 41,4S FEET; THBNCE SOUTH 15°00'22" EAST. FOR ADISTANCB OP 36.30 FF.ET TO THE SOUTH LINE OP THE NORTHEAST QUARTER OP THE NORTHWEST QUARTER OF SAID SECTION 20; THENCE SOUTH 86°15'34" EAST, ALONG SAID SOUTH LINE• .FOR A 01s·rANCE OF 38.93 FEET TO THB SOUTHEAST CORNEil OF THE NORTHEAST QUART.ER OF THE NORTiiWEST QUARTER OF SAID

THENCE CONTINUE ALONG SAID PROPOSED SOUTH RIGHT OF WAY LINE,

SECTION 20; TH2NCE SOUTH 00°39'36" WEST, ALONG THE WEST LINE OF

nm NORTHEAST QUARTBR. Of' SAID SBCTJON 20, PORA DISTANCE OF 4S.13 FEET; THENCE SOtITH S2°04'2711 EAST, FOR A DISTANCE O'F 78.4S FEET; THENCE NORTH 88°06'08" BAST, FOR. A DISTANCB OP 46.23 FEET; nmNCE NOR.TH S3"23'27" EAST, FOR. A DlSTANCE OF S3.97 FE.ET; THENCE

16°0S'l6'• 2AST, FOR A DISTANCE OF 78.35 FEET TO nm POINT OF BEGINNING. CONTAINING 0,834 ACRES. MORB OR I.ESS.

NORTH 39°04'20" EAST, FOR A DlSTANCB OF 60.71 FEET;. THENCE NORTH

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PRESERVATION AREA 4
COMMENCE AT THE INTERSECTION OF THE SOUTH LINE OF SECTION 17. TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA WITH THE WESTER!.Y RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HAVING A 66

104.47 FlraT TO nu SOUT.H.eR&.Y RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 98 (PANAMA CITY BEACH PARKWAY - HAVNG A 200 FT. RIGHT OF WAY); THENCE NORTH 54°11'52" WEST, ALONG SAW SOUTH.E!U.Y RIGHT OF WAY LINE. FOR A DISTANCE OF 2,261.11 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAYR TO THE SOUTHWEST AND HAVING A RADIUS OF S,661.65 FEET; THENCE NORTilWESTERL Y ALONG SAID CURVING RIGHT OF WAY LINE FOR AN ARC DISTANCE. OF 27.S1 PEET, SAID ARC HAVING ACHORD OF 27.51 FEET, BEARING NORTH 54°20'13., WEST TO TH£ POINT OF BEGINNING; THENCE CONTINUE NORTHWESTERLY ALONG SAID SOUTHERLY RIGHT OF WAY Ll:NE FOR AN ARC DISTANCE OF 463.17 FEET, SAID ARC HAVINO A CHORD OF 463.03 FEET, BEARING NORnl 56°49'11.. WEST TO THE END OF SAID CURVB: THBNCB LEAYING SAID SOUTH:ERLY RIGHT OF WAY LINB. SOUTH 27°18'12" EAST, FORA DISTANCE OF 118.81 FEET; THENCE SOUTH 13°22'25" WEST, FOR A DISTANCE OF 73.31 FEET; THENCE SOUTH 05°18'58" WEST, FOR A DISTANCE OF 136.63 FEET; THENCE soun109"10'15" EAST, FOR A DISTANCE OF S7.13 FEET; THENCE SOUTH 25°56'51"BAST, FOR A DISTANCE OF 81.22 FEET; THENCE SOUTH 02°00'51• EAST, FOR A DISTANCE OF S4.91 FEET; THENCE SOUTH 15°32'41" EAST, .FOR A DISTANCE OF 48.31 FEET; THENCE SOUTH 56°07'16" EAST, POR. A DISTANCE OF 113.15 FEBT; TH2NCE NORTH 15°44'09" EAST, FOR A DISTANCE OF 70.18 FEET; TI-IENCE NORTH 06.,34'44" EAST, FOR A DISTANCE OF 77.0S FEET; THENCE NORTI-1 65°45'11'' EAST, FOR A·DISTANCE OF 67.86 FEET; THENCE NORTH 29°54'02" EAST, FOR A DISTANCE OF 58.13 FE.ET; THENCE NORTH 24°S2'13" WEST, FOR A DISTANCE OF 44.60 FEET; THENCE NORTII 05°01'14" EAST, FOR A DISTANCE OF 33.19 'FEET; ntENCE NORTI-1 7S051'21" EAST, FORA DISTANCE OF 97.09 FEET; THENCE NORTH 19°48'39" BAST, FOR A DISTANCE OF 35.97 FEET TO TH'E POINT OF BEOINNINO. CONTAINING 2.S14 ACRES, MORE OR LESS.

PT. RIGHT OF WAY): THl!NCE NORTII 32°18'43" EAST, FOR A oIS·rANCB OF

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2238 PC 2322

COMMBNCB AT 'l'HB INTERSECTION OF nm SOUTH LINE OF SECTION 17. TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA WITH THE WESTBRLY RIGHT OF WAY LINE OF POWELL ADAMS ROAD (HA VJNG A 66 FT. RIGHT OF WAY); THENCE NORTH 32°18'43" EAST, FOR A DISTANCE OF
104.47 FEET TO THE SOUTHERLY RlOHT OF WAY LINE OF U.S. HIGHWAY NO. 98 (PANAMA CITY BEACH PARKWAY - HAVING A 200 FT. RIOI-IT OP WA V); THBNCB NORTH .54"11'.S2'' WBST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE FOR A DISTANCE OF 2,261,11 FEET TO THE POINT OP CUR.VATURB OP A CURVE CONCAVE TO THE SOUTIIWEST AND HAVING A RADWS OF S66l ,6S FBET; THENCE NORTHWB!>"TBRLY ALONO SAID CURVING R.lOHT OF WAY LINE FOR AN ARC DISTANCE OF 27.Sl FEET,

PRESERVATION AREA SA

SAID ARC HAVING A CHORD OP 27.Sl PEET. BEARING NORTH S4°20'13°

WEST; THENCE LEAVINO SAID SOUTHER.LY RIGHT OF WAY LINE. soum
19°48'39"' WEST, FOR A DISTANCB OF 35.97 FEET; TIIENCE SOUTH 75°5l '21"

WEST, FOR. A DISTANCE OF 97.09 FEET; THBNCE SOUTH 0S001'14" WEST. FORADISTANCB OF 33.19 FEET; TH.ENCE: SOUTH 24°52'13" EAST, FOR A DISTANCE OF 44.60 FEET; THENCE SOUTH 29°54102• WEST, FOR A DISTANCE OF 58.13 FE.BT; THENCE SOUTH 6.5°45'1 l" WEST, PORA DISTANCE OF 67.86 PEET; THENCE SOUTH 06°34'44" WEST, FOR A DISTANCE OF 77.0S FEET; THENCE SOUTH I 5°44'()9" WEST. FOR A DISTANCE OF 70.18 PEET; THl:iNCB SOUTH 06°27'18" WEST, FOR A DISTANCE OF 61.0l FEET TO TiiE POINT OF BBOlNNINO; THENCE SOUTH 03°22'12" WEST, FOR A DISTANCE OP 107.74 PEET; THENCE SOUTH 49°15'45'" EAST, PORA DISTANCE OF 32.27 F.EET; THENCE SOUTH 89°54'50" BAST. FOR A DISTANCE OF 59.18 FEET; THENCE SOurH 15°46'23"' EAST, FOR A DISTANCE OF Sl.68 FEET: THENCE SOUTH 27°04'10'' WEST. FOR A DlSTANCS OF !>6.SO FEET; T.HSNCE SOUTH 69°17"56" WF.S'r, PORA DISTANCB Oil' 37.59 FEET; THENCE SOUTH S0°50"3S" WEST. FOR A DISTANCE OP SS.64 FEET; THENCE NORTH 57°56'25" WEST, FOR A DISTANCE OF 193.12 FEET; THENCE NORTH 499SS'26" .EAST, FOR A DISTANC8 OF 16.75 FEET; THENCE NORTH 30°09'55" EAST. PORA DISTANCB OF 67.58 FE.ET; THENCE NORTH 33""29'26" EAST. FOR. A
DISTANCE OP 67.27 FEET; THENCE NORTH 08°15'.56" EAST, FORA DISTANCE OF 142.75 FEET; THENCE SOUTH 58"00'38" EAST. FOR A DISTANCB OF I 06.26 FEET TO THE POINT OF BEGINNn-lG. CONTAJNINQ 1.196 ACRES. MORB OR LESS.

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nR	ST. JOE COMMERCIAL
IDCRIPJUn [F HMJM1JD PRESERVATJIN Mr>-	CDHMENCE AT BAY COUNTY GEODETIC CONTROL POINT STAMPED BAY l0l3 199S, WITH A B£AR!NG RErERENCE CIF' NORTH :35"25'57' EAST F'ROH SAID CONTROL POINT TD BAY CllUNTY GEODETIC CONTROL POINT STAMPED BAY 1021 19951 THENCE NORTH 35•25•57• EAST FDR 13267.27 f'E£TJ THENCE NORTH 70-30'12' VEST FOR 1066-4.48 FEET, THENCE SOUTH 1r11·00· VEST f'DR 720.00 FEETJ THCNC( SOUTH 21·36'03" VEST rOR
896.09 rEET TD THE PD[NT OF BEGlNNING. THENCE CClNTINI.E SOUTH
1 '(131 VEST F"OR 720.13 FEETs THENCE NORTH 77•36'40' VEST FDR
.2552.47 F'EETJ THENCE NORTH 02"59'00f EAST FDR 1429,77 FEET; THENCE NORTH 43"49'16' EAST FllR 116.99 fEETJ THENCE SOUTH Q6•J0-47" VEST FCR 86.ll FEET; THENCE SOUTH f6•58'59' EAST FUR
26.74 F"EETJ THENCE SOUTH 17"33'.22' £AST f'DR 25.12 FEET1 THENCE SMH	87"CO'OfY E-AST FlJR 62.43 FEU, THENCE NORTH 7S-04'19' EAST fDR 114.01 f"EET; TiiENCE NJRTH 89W31" EAST f'DR 126.94 f'E£T1 THENCE SDUTH SQ-07'48' EAS.T FDR 178.42 f'EETJ TI£NCE SOUTH

SOUTH 34 4'07" EAST F1JR 102.11 FEET; THDCE SOUTH ss•19•2e· EAST FDR 174,55 f"EETJ THENCE SOUTH 43"'44'09" EAST FDR 166.11 F"EET; THENCE SCUTH 23-:J3'S4" EAST fDR 13L61 FEETJ THENCE SC?UTH 69•49•0s• EAST FDR 92.41 f'£ETJ THENCE NORTH 55 '26' EAST FOR
142.63 f"EETJ THENCE NORTH 63°15'18' EAST FUR 130,41 f'EETJ THENCE NORTH 55"32'58' EAST FOR 188.36 f'££TJ THENCE NORTH 55°54'26' EAST

40.o9 fEETJ 118a SflJTH 46"3¥26" EAST FDR 113.5+-FEETJ THENCE

22•42'36' EAST f(R 105.87 rm, THENCE SDUTH 3r41•43• EAST FOR

FlJR 173.05 f"EET; TH£NC£ NORTH 69"35'43• EAST FOR 250.13 FEET1

es·2s·so· EAST flJR 250.09 f"E:ETJ THENCE SOUTH 65"57'45' EAST FUR
209.54 FEET; THENCE SOUTH 24"53'50' EAST FDR 186,22 f"EET, THDl:E SOUTH 51"12'56' \JEST F(]R 241.39 FEET, THENCE SOUTH 41"39'35' VEST FilR 173,64 f"EETJ THENCE SCllTH 23"19'23• 'JEST F'OR 160,81 F'EET, THENCE SOUTH 12•2c!'35' EAST FDR J29.64 FEETI THENCE SOUTH 13"50'25' VEST FOR 140.41 FU'TJ THENCE SllUTH 39°57'17' EAST FDR
70,14 FE£T1 THENCE NORTH 79°15'49' EAST f"IJR U3,44 f'EETJ THENCE MIRTH 6r39'W EAST fDR 142.76 FEET; THENCE SOUTH 87•oo•oo• EAST F'DR 134.77 F"EET TO THE POINT CF BEGINNING, CONTAINING 76.UOO

THENCE NORTH es·o1•a1· EAST FDR 22-1.22 FEET, THENCE SOUTH

3 SOUTH, RANGE 16 VEST, BAY COUNTY, FLORIDA.

ACRES, HDRE DR LESS, AND BEING SITUATE IN SECTIDN 24, TO\JHSHIP

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11M:Z

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Landmark \Neb Offlclal Records Search

COUNTY GEDDETIC CIINTRCIL POINT STAMPED BAY 1013 1995, VlTH A

l£SCkD>flilH CF \IEll.MD DIWl:EJ£N'l° M1£a	COMMENCE AT BAY

BEARING RUERENCE: Or NORTH 35"25'57• £AST F1WH SAID CCNTRDL

19951 THENCE NORTH 35•25•57• EAST FOR 1326727 f'E£TJ THENCE

POINT TD BAY ccum GEODETIC CONTROL PDlNT STAMPED .BAY 1021

NDRTH 70•30•12• \IEST f'DR 11l664.48 f'EET TD Tl-£ POINT Of' BEGINNING, THENCE SOUTH lrl7'00' 'JEST FCR 720.00 f'E£T; THENCE SOUTH 21"36'0 \/£ST flIR 896.09 fEET1 THENCE: NORTH 87-00'00' '#£'.ST F"DR 1:34,n FEET, THENCE SOUTH 67"39'14" \IEST F'IJR 142.76 F'EETJ THENCE SIJUTH 79•15•49• \JEST FOR UJ.44 FE£TJ THENCE NORTH 39 •17• VEST f"DR 70.14 FEETJ THENCE NORTH 13-S0'25' EAST F'C!R

140.41 FEETl THENCE NORTH 5'

NlJRTH 23°19'23" EAST FDR 160.81 FEET; THENCE NC!Rll-1 41•39•35• EAST

'JEST FDR li?CJ.64 FEE:n THENCE

THENCE NORTH 24•53•50• VEST FOR 186.22 F'EITJ THENCE NORTH 65'57'45• 'JEST rDR 09.54 f"EET1 THENCE NORTH 85?.i'SO• VEST f'OR
250.09 fE£T1 THENCE SllJTH SS-07'01' WEST FUR 224,22 f'E£T; TH£NCE SOUTH 69•35'43" VEST FDR 250.13 f'EIT; THENCE SOUTH 55•54•26• \/EST FllR 173,0S fE£T1 ffiOICE' SOUTH 55"32'58' 'JEST FOR 188.36 fEET; THENCE SOUTH 63"15'18' 'JEST FOR 130.41 f"EET1 THENCE SOUTH
SS-S.'26" VEST FDR 142.63 F'EETJ THENCE: NORTH 69•48'0S• VEST FlR
92.41 FEET1 THENCE' "1RTH 23•33•54• VEST F'OR 131.61 FEET1 THENCE NORTH 43•44•09• VEST FOR 166,ll fEETJ THENCE NORTH 55°19'28•
\JEST FOR 174.SS FEET; THENCE NORTH 34"34'07• VEST FOR 102.11
F'EET-J THENCE MIRrn 46·34'26· VEST FOR 113.:54 F'EETs THENCE NORTH
31.41'43" VEST FOR 40.119 F'££T; THENCE MIRTH 22•42•36• VEST roR lOS.87 f'WJ THDICE NORTH sa•o7•4a• VEST FDR 17&42 FEET1 THENCE SOUTH 69•18'31• VEST f'tR 126.94 FEET, THENCE SllUTH 75-04'19• VEST F"OR 114.01 F'EETJ THENCE NDRTH 87°00'00• VEST F"CR 62.43 FEETJ

FOR 173.64 f'EETJ THDICE NORTH 51"12'56• EAST f'ClR 241.39 FEET;

16•58'59• VEST FDR 26.74 F'E£T1 THEM:£ NORTH. 06•10•47• EAST F'OR
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THENCE NORTH lM:n2• VEST f'DR 25.12 f'EE'fJ Tf£HCE NORTH

\IEST HAVING A RADIUS DF 342.91 ra:r, THENCE NORTHE:RLY ALDNG SAID CURVE FOR AH j\RC DISTANCE Dr 174,80 F'EET, TH£ CHORD ar SAID ARC BEARING HCJRTH 22"15'051 EAST FDR 172,91 F'EET; ·THENCE

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NORTH 07"33'57" EAST FCR 807.70 rEET; THENCE SllUTH 70°3012' £AU

3 SOUTH, RANGE" 16 VEST. BAY COUNTY, Fl.flRlDA.

ACRES. MORE QR LE:SS, AND &£ING SITUATE IN SECTION 24, TCJ\INSHIP

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1211:Z

Land Sales Data

Page I 93

CHANDLER AND ASSOCIATES OF PANAMA CITY, INC.

LAND SALE NUMBER ONE

RECORDING DATA:

GRANTOR: GRANTEE:
DEED DATE:

DATE INSPECTED:

SIZE/TOPOGRAPHY/FLOOD PLAIN/ WETLANDS:

CONSIDERATION: ALLOCATED AS FOLLOWS:

UNIT PRICE:

TYPE OF INSTRUMENT:

TAX PARCEL IDENTIFICATION NUMBERS:

OR 4116 Page 839
Bay County, Florida

SE Property Holdings, LLC

Nathan Lee Head of Jacksonville, LLC April 25, 2019
Numerous inspection dates over several years (property previously appraised by Chandler & Associates of Panama City, Inc.)

This sale involved three non-contiguous parcels of land which contained 30.64 acres. The property has extensive road frontage on West 19th Street, Balboa Avenue, Wood Avenue and Florida Avenue. Of the total land area, only 1.6 ± acres were usable uplands.
2.47 acres was within a conservation easement. The wetlands featured a very low elevation, and, at the time of sale, it would not have been economically feasible to fill a significant portion of the wetlands. The uplands were partially developed with horizontal improvements intended to support roughly 24 townhomes. (See remarks)

$500,000

$360,000 or $I 5,000 per townhome unit to the uplands;
$ I 40,000 or $4,828 per acre allocated to the 29 ±
acres of wetlands

$16,319 per acre of gross land area or $0.37 per square foot for the total property; $4,828 per acre for the 29 ± acres of uplands or $0.11 per square foot

See attached special warranty deed

14197-000-000, I 4197-050-000,
14403-100-210, and 14403-100-250

LAND SALE NUMBER ONE (Continued)

ADDRESS:

ZONING:

PRESENT USE:

HIGHEST AND BEST USE:

CONDITION OF TRANSACTION:

TYPE OF FINANCING: ENCUMBRANCES:

TYPE OF IMPROVEMENTS: UTILITIES:
VERIFICATION:

MOTIVATION OF PARTIES:

ANALYSIS OF PERTINENT INFORMATION:

OVERALL MARKET EXPOSURE TIME:

DAYS ON THE MARKET:

1801 West 19th Street; Panama City, Florida 32405 C-3 & R-5
24 townhomes were constructed on approximately 2
± acres of uplands and converted wetlands

Limited multi-family development on the uplands, conservation or passive recreation for the wetlands

The seller was a bank holding company. However, the property was exposed to the open market for 744 days and the listing price was adjusted accordingly. Given the lengthy marketing time, this sale was considered to be an arm's length transaction.

Cash to seller

Conservation easement over 2.47 acres and extensive wetlands

Limited horizontal utility improvements All municipal services
John Rasmussen, listing realtor, to Randall Chandler, a representative of SE Property Holdings to Randall Chandler, warranty deed and Bay County Property Appraiser's tax records (see following MLS data sheet)

Buyer was interested in building out the uplands and converted wetlands or re-selling the property

Not applicable

567 days

744 days

LAND SALE NUMBER ONE (Continued)

REMARKS: This sale involved a bank owned asset which was appraised for SE Property Holdings, LLC by Chandler & Associates of Panama City, Inc. Although the sale involved a bank owned asset, it was considered to be an arm's length transaction due to the fact that it was on the market for 744 days. The seller tested the market at varying prices and ultimately agreed to accept the highest offer. The majority of the property is not developable as the cost of permitting and filling the wetlands was not economically feasible. The wetlands remain vacant and unimproved. The uplands and a small amount of wetlands were subsequently developed with 24 townhome units. The 24-unit upland townhome site was only partially improved with curbs, grading and some underground utilities. It was not fully developed with paved parking, improved access drives, storm drainage and lighting. The upland townhome site sat dormant for many years before a developer ultimately purchased the property and only recently completed the project.

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Parcels

LAND SALE NUMBER ONE
Freshwater Emergent WeUand Freshwater Pond

wetlands
Freshwater Forested/Shrub Wetland

PrirollM'I· A/1lil?n?:>

...  11"" .. UA#IJV"'l'&.,,u," ......... "'W&.av• .,.,,,... .VI.,.......................-MV..., Mlf/6	,. •,•
fU Klmaul, Clerk Bay County, Plorida D DOCTAX PD 53,500.00  Deputy Clerk GB Tram# 1527S,O

DDCIISll,1EftwllGpeID:24675CB9 4486 4BBO-G41E-ECC82ABB0741

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3110tlllpway 77, Salte P
Pauma 011,n. 32.405
Osar!Ille Number: 1N591S1
J'or cdlle18l me b\1 Qerk'•allk;e gn)y
STATB OP Florida	)	SPECIAL WARRANTY PIP 
COUNTY OP Bay	)	(Cmpo.rate Seller)
)
THIS JNDBN'I'URB. made dJis Apdl 2S1 2019, bDMm SB Property Baldfap, LLC, a Ohio Jfmtted Jfabllffy company, whose mailingaddress ia:140 B Town Stied 1400, Columbus, Ohio 43215,pmy of1hD first part, md Nathan Leo Bead of Jackloaville, LLC, a Jlortda llmlted llabfJlty company, whoso mailing address is: 6727De LenDrive. Panama City, Flodda 32404, party/parties of the second pat,
WITNRSSBTH:
First party. for and in considemtion of the sum ofTBN AND N0/100 DOJJ.ARS (Sl0.00) and other valuable iderations, teceipt whereof is hereby acknowledged, does hereby pmt, bargain, sell, alims, mmiscs, nleases, ccmwya an.cl ccmfinm unto s pmty/p811ies. hislllerhhelr heJrB and assip, thefollowing described property, towit:

PAR.CBLI;

sours.

THAT PORTION OFTBB SOtJTHWBST QUAR.TBR. OF SBCrlON 32, TOWNSIDP 3
RANG:B 14 WEST, BAY OOUN'IYPLORIDA BOUNDBD ON Tim SOUl'H BY A LINB 1335.00 FBBT NORTH OF TBB SOUTH LINE OP SA1D SOUTHWBST QUART.BR; BOUNDED ON TBB NOB.TH BY A LINB 2152.59 P.BBT NORTH OF THE SOUTH L1NB OF SAID SOtmlWEST QUART.EB; BOUNDED ON TBB EAST BY THE BAST LINE OP SAID SOUTHWBST QUAllTBll AND BOUNDED ON THB WBSTBYTHB BASTl.UOH'I' OFWAY L1NB OP FLORIDA AVBNUB.

PAllCBLD:
COMMENCE AT THE SOUTHEAST CORNBR. OF THB SOUTHWBST QUAaTEll OF SECTION 32. TOWNSHIP 3 SOUTH. RANGB 14 WlmT, BAY COUNTY, FLORIDA; THENCE NORTH 88 DBGllBBS 54 MJNtJTBS 26 SBCONDS WB8T AIDNG THE SOUTH LINB OF SAJD SECTION 32 .FOR 405.00 FBET TO THE CENTBR LINE OP FJ.()RIDA AVBNUE; TBBNCB NOR.111 01 DEORBB 33 MINUTES 23 SECONDS BAST ALONG SA1D CENTBR. UNB FOR. 133S.OO PBBT; THBNCE NOR'm 88 DEGRBBS 54 MlNUTBS 26 SECONDS WBST FOR 30,00 FBBT TO THB WEST RIGIII' OP WAY L1NB OP PLOlUDA AVBNUBFOR. TBBPOINT OP BEOINNJNO; THBNCH CONTINUB NOR.m 88 DBGREBS 54 MlNUTBS 26 SECONDS WBST FOR 614.95 PBBT TO 1'BB BAST .L1NB OP THE PARCEL DESCRIBIID IN BAY COUNTY OFFICJAL RBCORDS BOOK. 2012, PAGB 262; TBBNCB NOR.'11i 01 DBGRBB 24 MlNUTBS 47 SECONDS BAST ALONG SAID EASTL1NBFOR.. 14.79 PBET TO THE NORTHEAST CORNER. OF SAID PARCEL; T.HBNCBNORTH 88 DBORBBS 46 MlNUTBS 11 SECONDS WEST ALONG THE

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NOR.THLlNB OP SAD> PARCBLPOR.553 03 PBBT TO THBEASTBIGBT OP WAY LINE OF WOOD A'VBNUB; TBENCB NOR.ffl 01 DBOREB 06 MINUTJ!S OS SECONDS EAST ALONG SAID BAST RIGHT OP WAY LINE FOR 1251.13 PBBr TO TBB SOUTli RIGHT OF WAY LINE OP 19TH ST.RBBT; THBNCB SOUTH 88 DBGRBBS 37 MINUTBS 43 SECONDS BAST ALONG SAID SOUTH RIGHI' OP
WAY LINB POR. 517.!>S PBBT TO '11m NORTB.WBST COKNER. OF THE PARCEL DBSCBJBBD JN BAY COUN1Y OfflCIAL RECORDS BOOK 2652. PAGB 1990; THBNCB SOUTH 01 DEGREE 32 MINUTBS St SECONDS WBST ALONG THB WEST LINE OP SAID PARCBLFOR 660.00 FBBT TO THB SOUI'HWBST CORNHR. OP SAID PARCBL; THENCE SOUTH 88 DBGRBBS 28 MINUmS 48 SECONDS BAST ALONG THE SOUTH LINB OP SAID PAR.CBL FOR. 659.87 PBBT TO TBB
WBST RIGHT OP WAY L1NE OF FLORIDA AVBNUB; THBNCB soum 01
DBGRBB 33 MlNUTES 25 SBCONDS WEST ALONG SAID WBST RIGHT OF WAY LJNEFOR 599.85 FEBT ro THBPOINT OP BBGJNNJNG.
PARCBLDI:
COMMl!NCJNG AT T8B SOtrnlWBST OORNBll OP SECTION 32, TOWNSHIP 3 SOUTH, RANGB 14 WBST, BAY COUNTY, PLORIDA; THBNCB NORTH 00 D.BOREHS 13 MINtJTBS 10 SECONDS BAST, AI.ONO mE WESTERLY BOUNDAllY OF SAlD SECTION 32, A DISTANCB OP 1322.15 PBBT TO THB NORTHWEST CORNBR. OF TBB SOUTHWEST QUAlt'IBll OP TBB SOUlBWBST QUAR.TBR. OP SAID SF.cTION 32 AND THB POINT OF BEOJNNmO; TBENCB NORTH 00 DBGRBBS 13 MINUTES 16 SECONDS BAST FOil 1282.02 PBBT TO THB SOUTH RICJHT OP WAY UNB OF 19TH ST.RBBT: TBBNCB SOUTH 89
DEGREBS 40 MINUT.BS 11 SBCONDS BAST ALONG SAID soum IIGBT OF
WAY LINB FOR. 200,11 FBBT TO TBB WHST RIOHT OF WAY LINB OP BALBOA AVBNUB; TBBNCB SOUTH 00 DBOlU!BS 13 MlNlJTU 10 SECONDS WBST ALONG SAlD WEST RIGHT OF WAY LINB FOR. 1142.28 PP.BT TOTBB POINT OP ClJllVATURB OP A CUR.VB CONCAVB TO TBB NORTHWBST; TRBNCB SOUTHWBST.BRLY AI.ONO SAID CUB.VINO RIGHT OP WAY LlNB HAVING A DELTA OF 17 DBGREBS 34 MINUTBS 42 Sl!CONDS, A RADIUS OF 459.53 PBET FOR AN ARC DJSTANCB OP 140.98 FBBT. CHORD BEARING SOU1ll 08 DBGRBES 59 MINUTES 49 SECONDS WEST, FOR. 140.53 F'BBT TO TBB NOR.'IH LINE OF 111B SOt.rmWBST QUAB.TBR. OF THE SOUTHWEST QUARTER OP SAID SECTION 32; THENCB NOR.TH gg DEGB.BES 57 MJNUTBS 39 SBCONDS WEST ALONG SAID NORTH LINE FOil i78.12 FBBT TO THB POINT OF BEGINNING.
Subject, however, to all covenants, conditions, restrictions, reservati limitathms. easements and to all applicable mniDg cmlinances and/and restdctlons and pro]nlmians impmed by govenmwma1 authmities, if any.
TOGBTHBR. withall1he tenmnenta, hercc1itamenCsad appurtmmcca thereto bokmging OT in anywise
appertaining.
TOHAVBAND TOHOLD tho samo infeo simplo fmever.

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DocuSl!Jn E;nvc(q)o ID: Z467&C6M48E-48B0-941E-ECC&2AB90741

AND the party of the fust part hereby covenants with said party of the second part, that it is law.fully semd of said land in fee simple: that it bas good right and1awfiJl authority to sell and convoy said land; that it hereby 1b1ly wammts the 1itlo to said Janel and will defend the same against the1awml daims of all persons claiming by, through or under1he party of the:fiJBt part.
IN WITNESS WHERBOF, :first party has signed and sealed these present the date set forth on April 22,
2019.

Signed, sealed and delivered
' u!4 R
	SUE WEBB	
Print witness oame

SE Property Holdlogs, LLC
By: 	 V:P
Jmmifer Corbitt
Vice Preeident

StatcofPL
County of Bay
nm  FORBGOING INSTRUMENT was acknowledged befoie me this_ day of April, 2019by1mmifer

known to me or who has produced U  Qll'l,1,,,,, C,..

Colbitt, Vice President of SB Property Holdmgs. .	a Ohio limited liability company who is personally

88 identification.

Print Nowy Name
My Commission Expires:	_
NotarySeal

DBBD-SpablWmmlyDocd-CclpGIIIO ao,cn"Cllab

PfGGYSIEWEBB
IIY'coraaaslOtlf&G-­
EICPIRES: Oc:lofler21.21m
Solldlittllu.NalavNII

LAND SALE NUMBER TWO

RECORDING DATA:

GRANTOR: GRANTEE:
DEED DATE:

DATE INSPECTED:

SIZE/TOPOGRAPHY/FLOOD PLAIN / WETLANDS:

CONSIDERATION:

UNIT PRICE:

TYPE OF INSTRUMENT:

TAX PARCEL IDENTIFICATION NUMBER:

ADDRESS:

ZONING: PRESENT USE:
HIGHEST AND BEST USE:

OR 8424 Page 380
Escambia County, Florida
OR 855 Page 1817 - Corrective Deed AAN TV Realty, Inc.
Don Anderson December 9, 2020
Inspected via aerial photographs and GIS maps by Randall Chandler on August 16, 2022

This sale involved a 7,405 square foot site (0.17 acres). It is located along the east shore ofLago Bonita adjacent to the Lago Bonita Townhouse project. The building setback and the declaration of covenants, conditions and restrictions for the townhouse project prevent development on this parcel. Thus, it has no development potential. It is not wetlands and it is not in a flood prone area.

$1,700

$0.23 per square foot or $10,000 per acre

Special	warranty	deed	and	corrective	special warranty deed

28-2S-26-1160-000-045

18 Calle Traviesa
Pensacola Beach, Florida 32561

Medium Density Residential- Pensacola Beach Vacant
Passive uses - no development allowed

LAND SALE NUMBER TWO (Continued)

CONDITION OF TRANSACTION: TYPE OF FINANCING: ENCUMBRANCES:

TYPE OF IMPROVEMENTS: UTILITIES:
VERIFICATION:

MOTIVATION OF PARTIES:

ANALYSIS OF PERTINENT INFORMATION:

OVERALL MARKET EXPOSURE TIME:

DAYS ON THE MARKET:

Arm's length sale Cash to seller
Encumbered by the declaration of covenants, conditions and restrictions for Lago Bonita Townhouse project

None

All municipal services

Information regarding this sale was confirmed via the recorded deed, property tax records and Mike Rogers, MAI appraiser.

Buyer purchased the property for gardening or a passive use

Not applicable

Unknown Unknown

M

Page J 104

8116/22, 11:05AM	ESCPA·18 CALLE TRAVIESA 32561

Source.: Escambia County Property Appraiser
IRestore Full Version I

Generill Information
Parcel ID:	2825261160000045
Account:	170171100
ONners:	ANDERSON DON
Mail:	210lJ\NTAlLON DR
OCEANSPRINGS, MS 39564
Situs:	18 CALlf TRAVIESA32561
Use Cod•:	WASTELAND
1:lxlni	PENSACOLADEACH
Authority;
1:1< Inquiry:	
Tax Inquiry link courtesy of SCott Lunsford
Escambia County Tax Collector	Assessments
Year	L•nd	lmprv	Total	CiulJia/.
2022	S100	so	$100	s100
2021	$100	so	$100	$100
2020	$100	so	$100	$100	
	Disclaimer	
	Market Value Breakdown Letter		
	TaxEst1mator		
	Fne for New Homestead Exemption Onllne	
Sal•s Data
Sale Date  Sook Pag Value Type Official Records
(New Wind0w)
06/08/2021 8555 1817 $1.700 WO	D,
12/09/2020 8424 380  Sl,700 WO	D,
01/08/2015 7284 197  $6,200 TD	D,
Official Records Inquiry courtesyof Pam Childers Escambia County Clerk of the Circuit Court and
Comptroller	22 Cortltiod Roll E<ompt1oru
e

Legal Desaiption
ALLTHAT LAND W OFCALLERD E OF LAGO BONITOLAKE SOF LT24 & N OFLT 25 LAGO BONITOTO\VNHOUSES P6 8 P 79 OR8424...	
	Extril fe;,tures
None	
Parcel	l.<•ti1,._f,1utM fl  tV4M:,..,.
rlormotion'r	,	..,,.	1
ecrion
ap Id:

ViewFloridapep&Jmentof EnvuonmrntatProter.t1on<PEP)Data	

nttps•lfwww.escpa.org/CAMA/Oetail_a asp>?s=282S261160000045	112

8116122, 11:08 NII

Landmark Web Official Recon:ls Search

'Recotded In Public Records 6118/202) 3:26 PM OR Book 85SS Paae )817. Instrument #20lt0ti7532, Pam Chlkfen Clerk of the Circuit Court Escamblia County, FL Rtcordlog $18.50 Deed Stamps SU.90

Speoo lbcwcdm lla1mawd tor Rccudcr'SCIIC

Corrective SPECIAL WARRANTY DEED

KNOW ALL MEN BY THESE PRESENT 'nlAT:

FOR VALUABLE CONSIDERAT10N OF TEN DOLLARS ($10.00), and other sood and valuablo considemdon. cash in hand paid, the n:ceipt and sufficiency of which Js hereby aclmowlodged, MN TV REALTY INC, w.hosc mailing address is 289 34111Street, St Pdl:rsbms FL 33713, hcrcinafternd'arod to as "Grantor", docs hereby grant. bargain, sell, <:onvoy, and wamurt unto Dem. Andenoa. 11 married person. whoso malling address iallO Tautalloa Drive, Ocean SpriDp. MS 39564,he.re!nafter refmedto 11 "Granted', 1he followlng lands and property, together with all bnprovements locatccl thc:rcon if applicable. lying inthe County of Escambia, S1Bte of Florida, to wit;
Corrective Deed to correct the Grantor's Name and Lepl Descrfptlon.

LEGAL DESCRIPTION: ALL THAT LAND W OF CALLE RD E OF LAGO BONITO LAKES

OF LT 24 & N OF LT 25 LAGO BONITO TOWNHOUSES PB8 P 79 OR 7284 P unSHEET 14
PARCEL# 17-0171-100

SUBJECT to all easements, ria,,t-of-way, protoctive covenants, and mineral reservations of m:ord, if'uny. TO HAVB AND TO HOLD same unto Ontmce, and unto Grantee's heirs and BSBigns forever, with aJJ appummam:es thotwnto belonging.

ORANTOR docs for Grantor and Grantor's heirs, personal rcson1atives, cxecutms and assigas forever hereby covenant with GRANTEE that Orantor is lawfidly seized in fee simple ofsaid pMmises; that lhe p,cmiscs me free ftom all encumbrances, unJeu Olborwiso noied above; that Oranto: has a good right to sell and convey the same as afon:aaid: and to forever warrant and defend 1ho right 1111d title to ti= show­ described real property unto tho Grantees agmnst the claims of all person(s). daiming by, through or wuw
Gnuuoc's but not otherwise.

Tho property herein com,cyed is not lhchomesiead property ofthe Onmtor.

WITNESS Grantor's band thisday or	:[UM-

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STATE OF FLORIDA COUN'JY OF PINELLAS

appeared, Jeremiah P Hartman, an unmarried person, as President of MN TV REALTY INC. personally

On theca""" day of		• 2021, before me, tho undersigned officer, personally

	the same for the purpose 'therein eontained.

ex""1ed

known to me to bo tho person whose 1111mc is subscribed to tho within insuumcnt and acknowl&rged that he

In witness whom ofl hereunto set my hand and official seal.

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SEND TAX STATEMENTS TO GRANTEE
GrllDtees name ad address:
Don Anderson
:UO. Tantallon Drive
Ocean Springs, MS 39564 US

This instrument prepared by: Angelique Glore
2560 5th Avenue N
St Petersburg, Fl. 33713

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LAND SALE NUMBER THREE

RECORDING DATA:

GRANTOR: GRANTEE: DEED DATE:
DATE INSPECTED:

OR 3948 Page 329
Bay County, Florida

First National Bank of Northwest Florida Bay County, Florida
October 20, 2017

Numerous dates over several years (property previously appraised by Chandler & Associates of Panama City, Inc.)

SIZE/ TOPOGRAPHY / FLOOD PLAIN/ WETLANDS:

CONSIDERATION:

UNIT PRICE:

TYPE OF INSTRUMENT:

TAX PARCEL IDENTIFICATION NUMBER:

ADDRESS:

ZONING:

PRESENT USE:

HIGHEST AND BEST USE: CONDITION OF TRANSACTION:

This sale involved 27.6 ± acres ofland with roughly 990 feet of frontage on Jenks Avenue. It is situated along the east right-of-way of Jenks Avenue south of 26th Street adjacent to the north boundary of Waterstone Apartment Complex. 95% of the property was jurisdictional wetlands and within a floodplain area.

$773,000

$28,007 per acre or $0.64 per square foot Special warranty deed

11740-200-000

Jenks Avenue
Panama City, Florida 32405

High Density Residential (City of Lynn Haven) Storm drainage retention
Off-site mitigation or limited potential development
after obtaining dredge and fill permits Voluntary acquisition-arm's length sale

Page  1109

LAND SALE NUMBER THREE (Continued)

TYPE OF FINANCING: ENCUMBRANCES:
TYPE OF IMPROVEMENTS: UTILITIES:
VERIFICATION:

MOTIVATION OF PARTIES:

ANALYSIS OF PERTINENT INFORMATION:

OVERALL MARKET EXPOSURE TIME:
DAYS ON THE MARKET:

Cash to seller

None noted on special warranty deed None at the time of sale
All municipal services

Angie Barger, President of First National Bank, Jim Everett, realtor, MLS, warranty deed and property appraiser's records by Randall Chandler

Buyer purchased the property for a stormwater drainage retention area
Not applicable 378 days
382 days

REMARKS: This property was previously appraised by Chandler & Associates of Panama City, Inc. Although it was zoned for High Density Residential Development, it was extremely low in elevation and would have required extensive fill, permitting and mitigation. The buyer purchased the property for a road improvement project. This was a voluntary acquisition which did not an eminent domain proceeding.

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LAND SALE NUMBER THREE
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File# 201'706107 OR.BK: 3948 PG: 329, Paaes: 1 of 2, Recorded 10/20/2017 at 2:49 PM,
Bill XlmauJ, Clerk Bay County, Florida D DOCTAX PD SS,4Jl.OO Deputy Clerk GB Trans# 1427632

F9rpflidalpsebyQsd5'!pfflct 9Pb:	

STATE OF Florida
COUNTY OF Bay

)
)

SPEC'IALWARRANJ'Y DEED
(Coq,or= Sdlcr)

)
TIDS IND.ENTURE. made lhis Octobcr20, 2017, bctwcm Jlnt National Bank Nortlnmt Florida. a aatio.aal banking ciorpct8llcn. whose mBilillg address is: 101 E. 23n1Slim, 'PDDmna City. Florida 3240!, party afthc first part. and Bay Caa■Q'• Florida. a poliflcal 111bdirisloa of'tbStaeo ot'1oricla, whoso malling address is: 840 W. I Ith St. Panama Ciiy,.Flotlda 12401, pnny/pcnlca of'lhc lccand part.
WITNE§S§IU1
First putty. for amd in conslderatlnn of the smn of TEN AND N0/100 DOIJ.ARS (SI0.00) and other 'VQ?uahl.c oonsfderu!loN. rec:clp& whereof Is hmby adcnuwtcdgcd, docs hc:rcby pllll, mpin, 1cll, 1lic:ns, n:mlscs, rdcucs. conveys and c:ooflnns unto acicond party/plltics, hlllhcrld'lclr hdre and mslgns, 1hc following dc&c:rlbcd property, towit:

Lais 31, 32. 33, 34, 47, and 48, aooordinQ tD St Andrews Bar Dewi.nent Companfs Plat of Section 20, Townahlp S South, Range 14 Weal, Bay Count,. Flaridll.
LESS AND EXCEPT the Weal 60 feet of Lctll 31. 34 and 47, oonvuycd bi Deecfa In Offllllal
Records Back 248, Page 3915 and Official Recards BDGk 3117, Page 617:
AND LES$ AND excEPT 1h11 East 50 mt af Lola 32, 33 and 48, converecl by Deed fn Official Recanfs Beak 397, Page 517, Publlc Recarda of Bay COumy, Flortfa.
LESS AND EXCEPT therefrom that portion mere particularly deacrlbcd .. followl:BeglMlng at

Development Campmys Plat of Sectlon 20, Township 3 Soulh, Ra,ge 14 West, Bay

the fnt.ersectlan of the North llne cf Lot 49, 111:COrdlng ta the Sl Andtaws Bay

cfwap line far 20.00 feet; then= N 88 degrees 49'"8" E. paraUel with said Ncrtti llne, for

County, Flarida, and the West right of wa:, line of Harrfson Avenue (100 root right of way); thence S 88 degl'ees 49'46" W, along the North111'1& af said Let 48 for 480.00 feet; thence reavlng eald Nontl llne. run N 00 degrees 00'00" E. pamlfef with said Wtit rfght

said West right ofVIZ/ line, fer 20.ao feot ta tho Paint of Beginning.
Subjcc:t, however, to all covman1B, condltlons, rcstric:llons, nsrvaUona, Ilmlbttlom. cusc:mcnbi and co all
applicable zoning onUnanc:es and'and l'CIIDiCWIIII and prohlbldcms Imposed by govcmmcntul IIUdaomlcs, if any.
TOOETHER with all the tcr1cmcms, hcrcditamcnta and appartcmDcCI lhc:n:to belonaln& or fn anywise
appcrmiaing.
TO HAVE AND 1U tfOJD the snme In fi!o shnplc tbrcvcr.
AND the party of the first pttrt hereby co.enam wftb Aid party of lhc accond part. that it i1 lawlully seized of said land In f1:e simple: chat ct has good right and lawftll authortty to sell and cunvoy snicl lmuf; Chat It hmby fblly wamws the title to said Imel mid will dcfnl 1bc same apiml lhc lawful claim of all pcraou clmmJag by, throngb orundc,- the pall}' of themapart.
IN WITNESS WHEREOF. rust party has aigised and acalcd these prcscns chi: dztlc act forth m October
20,2017.

◄SO.DOfeat to the said wat right of Wl'f l!ne: thanca Scutl1 llO degreo& 00·00·w. slang

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(Corporate Seal)

  Print witness	 C:	

J'ile # 2017061072 BK: 3948 PG: 330, Pages: 2 or2

State of Florida
Couatyof Bay
THB FOREGOING INSTRUMENT wa m:lcnowlc:dgcd before DIC chis ;;;r::/'fr"\dayof Oc:&obi:r, 2017by
1Anaic Barger, Prcsldcm of Fust Nauional Bank Northiwr.st Ftoridis who is pcnonally known to me or who Im

Print Nolmy Name

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Owner Contact Letter

CHANDLER AND ASSOCIATES
OF PANAMA CJTY. INC.
REAL ESTATE APPRAISERS
11 West 23.i St,-eot. Building D
Panama City, Flonda 32405
(850) 769-9455 office

RANDALL C.CHANDLER, MAI
PRESIDENT

August 15, 2022

Pier Park Community Development Dhirict 3434 Colwell Ave.
Suite 200
Tampa, FL 33614

Re:	Parcel 773 - Segment 2.0 Panama City Beach, Florlda

To Whom it May Concem:

The City of Panama City Beach employed our firm to appraise a three-year temporary construction easement which \'lill encumber 5,751.91 ± square feet of the property appraised. A copy of the survey of the taking and the temporary easement are attached to this Jetter.

If you would like to accompany me during my inspection of the property, please telephone me at the contact numbcr listed above. If you have any questions regarding the construction of th1: right-of-way project or the proposed acquisitions, please contact U1e Panama City Community
Redevelopment Agency.

Respectfully Subm iticd,
CHANDLER AND ASSOCIATES OF PANAMA CITY.INC.

Randall C. Chandler, MAI
State-Certified General Real Estate AppraiserRZ156

A..
R>ri ALL C CHANOLER, MAI
STATE CERTIFIED GEt.lEftAL A6AI. ESTATE APJ:'RA,ISER

NOR:9X)O'IM

-

·

Appraiser's Qualifications

QUALIFICATIONS
RANDALL C. CHANDLER, MAI 11 WEST 23RD STREET - SUITED PANAMA CITY, FLORIDA 32405

EDUCATIONAL BACKGROUND:
Awarded a Bachelor of Science Degree in Business Administration with a major in Real Estate and Urban Land Studies by the University of Florida in 1975.

Awarded a Bachelor of Arts Degree in Political Science by the University of Florida in December, 1973.

Successfully completed Course 101 of the Society of Real Estate Appraisers, "Introduction to Appraising Real Estate", University of Florida, 1974.

Successfully completed Course 201 of the Society of Real Estate Appraisers, "Income Property Appraising", University ofFlorida, 1975.

Successfully completed Course II of the American Institute of Real Estate Appraisers "Income Property Valuation", University of Tampa, 1975.

Successfully completed Course VI, ''Income Property Investment Analysis", of the American Institute of Real Estate Appraisers, Chicago, 1976.

Attended the School for Executive Development of the Associations, University of Georgia, Athens, Georgia, 1977.	U.S. League for Savings and Loan	

SEMINARS COMPLETED:
Florida Real Estate Law	
2022	
Florida Real Estate Ethics & Business Practices	2022	
Educating Homebuyers	2022	
Educating Sellers	2022	
Short Sales & Foreclosures	2022	
Florida Core Law	2020	
Business Ethics	2020	
USPAP Update	2020	
Expert Witness Assignments	2020	
Mortgages and Foreclosures	2020	
Business Practices and Ethics	2017	
Eminent Domain and Condemnation	2017	
Subdivision Valuation	2017	
Small Hotel / Motel Valuation	2017	

Advanced Hotel Appraising - Full Service Facilities	2016	
Appraisal ofFast Food Facilities	2016	
Appraisal of Convenience Stores	2016	
USPAP Update	2016	
Florida Appraisal Laws and Regulations	2016	
Appraising Assisted Living Facilities	2015	
Uniform Appraisal Standards Update	2014	
Florida Appraisal Law / Rules	2014	
Sales Comparison Techniques	2014	
Appraising Green Residences	2014	
Residential Appraisal Review	2014	
Appraisal of2-4 Family and Multi-Family Properties	2012	
Challenging Assignments for Residential Appraisers	2012	
Foreclosure Basic for Appraisers	2012	
USPAP Update	2012	
Florida Real Estate Appraisal Law and Rules	2012	
Scope of Work	2012	
Forecasting Revenue	2012	
Discounted Cash Flow Analysis	2012	
Commercial Client	2012	
New Technology	2012	
Comparative Analysis	2012	
Business Practices and Ethics	2012	
Data Verification Methods	2012	
Apartment Appraisals	2010	
Ad-Valorem Tax Consulting	2010	
USPAP Update	2010	
Florida Appraisal Law	2010	
Supervisory Roles	2010	
USPAP Update	2008	
Florida Law	2008	
Market Area Analysis	2008	
Communicating the Report	2008	
Distressed Real Estate	2007	
PROFESSIONAL AFFILIATIONS:		
Appraisal Institute:		
Awarded MAI designation in May of 1983. MAI designation number 6661.
Chairman of the Chapter Admissions Committee in 1985.
Elected President ofNorth Florida/ South Alabama Chapter in 1986 / 1987.
Elected to serve on the National Governing Council from 1989 to 1990.
Appointed as Assistant Regional Member of the Review and Counseling Committee for 1989 and 1990.
Committee to nominate National Officers (1990).
Elected to the Board of Directors of the Appraisal Institute 1991 through 1993.

OTHER PROFESSIONAL AFFILIATIONS:
Florida State-Certified General Real Estate Appraiser - No. RZ156 Member of the National Association of Realtors
Registered Florida Real Estate Broker - License No. 0150163

PARTIAL LIST OF CLIENTS SERVED:
City of Panama City
City of Panama City Beach
Panama City-Bay County International Airport Office of the Attorney General; Tallahassee, Florida
Florida Department of Transportation; Chipley, Florida The Nature Conservancy; Tallahassee, Florida
The Trust for Public Land; Tallahassee, Florida
Department of Environmental Protection; Tallahassee, Florida Regions Bank; Various offices
Whitney National Bank; Various offices Bank of America; Various offices
Federal Deposit Insurance Corporation; Various Offices Citicorp Real Estate, Inc.; Tampa, Florida
AmSouth Bank; Florida and Birmingham, Alabama offices SunTrust Bank of Florida; Florida
Federal National Mortgage Association; Atlanta, Georgia First Union Bank; Jacksonville, Florida
TICOR Mortgage Insurance Company; Miami, Florida HOMEEQUITY / HOMERICA; Wilton, Connecticut Amerada Hess Corporation; New York, New York
Bay County Land & Abstract Company; Panama City, Florida Bay County Property Appraiser's Office; Panama City, Florida Bay Bank & Trust Co.; Panama City, Florida
American Funding Corporation, Montvale, New Jersey Merrill Lynch Relocation Service; Atlanta, Georgia Chevron, U.S.A., Inc.; Miami, Florida
West Building Materials; Atlanta, Georgia Equitable Relocation Service; Atlanta, Georgia
Transamerica Relocation Service; Farmington, Connecticut Tyndall Federal Credit Union; Panama City, Florida Alliance Mortgage Company; Jacksonville, Florida Allstate Enterprises; St. Petersburg, Florida
Florida Federal Savings & Loan Association; St. Petersburg, Florida Great Western Savings; Orlando, Florida
City Federal Savings & Loan Association; Boca Raton, Florida Mortgage America, Inc.; Birmingham, Alabama
SouthTrust Bank; Birmingham, Alabama NCNB Bank; Dallas, Texas
Yamaha Corporation I Century Boat Company

SPECIALIZED APPRAISAL EXPERIENCE I NOTABLE PROPERTIES

RESORT I RECREATIONAL DEVELOPMENT APPRAISALS:
St. Croix and St. Maarten Condominiums at Silver Shells Resort; two 15-story structures containing 170 units.

Tides at Tops'l Condominium; a 16-story structure containing 160 residential units and four commercial units.

Long Beach Resort Towers I and II and III; 265 units in three 15-story high rise structures.

The Summitt Condominium; 154 units in an I I-story structure in Tops'l Resort.

Numerous small condominium projects in the Destin market area including Destin Pointe, Grand Caribbean, Gulfview II, Caribbean Dunes, Emerald Dunes and others.

Pinnacle Port Condominium: A 408-unit gulf front complex consisting of six seven story buildings and one 12 story building including all recreational amenities.

Sunbird Condominium: 288 units in a gulf front development consisting of two 12-story high rise structures.

Seamark Condominium: 308 units in a 30-story structure with an adjacent multi-level parking garage.

Watercrest Condominium: 163 units in a 17-story structure located on a gulf front site.

Pelican Walk Condominium:	120 units in a 12-story gulf front building including all recreational amenities.

The Meredian Condominium:	A 238-unit gulf front development in a 14-story high rise building.

Condominium projects within Bay Point Yacht and Country Club including Marina Club Village, Baytowne and Golf Cove Estates.

Seachase Condominium: a 64-unit gulf front condominium development consisting of two 8- story buildings and all amenities.

Villas of St. George: A 42-unit condominium development located on St. George Island consisting of eight three story buildings.

MOTELS:
Comfort Inn and Suites; Okaloosa County, Florida.
Holiday Inn Select; near Panama City Mall; Panama City, Florida.
Buccaneer Beach Motel and Restaurant; Panama City, Florida.
Miracle Mile Resort; Six gulf front hotels containing 640 units.
15-story gulf front Holiday Inn Resort/ Hotel containing 347 units.
Gulf front Ramada Inn with restaurant and convention center containing 147 units.
Gulf front Days Inn containing 188 units.
Pier 99 Motel: A 200-unit complex consisting of 80 existing units and 120 proposed units, a lounge and conference center.
104-unit Comfort Inn Motel located adjacent to the Panama City Mall.
160-unit Days Inn Motel with detached restaurant; commercial motel located near a business district.

RESTAURANTS:
TGI Friday's; Destin and Panama City Beach
Basmati's Restaurant; Santa Rosa Beach; Walton County
Los Antojitos; Highway 98
Shrimp Boat (and marina, vacant bay front site, and retail/ warehouse building)
Applebee's; Walton County
Beach House and Giannini Lounge; Panama City Beach
Runaway Island Beach, a gulf front restaurant; Panama City Beach
Capt. Anderson's Restaurant: Seating capacity of700 ±
Angelo's Steak Pit: Seating capacity of 480 ± people
Sylvia's Restaurant: Seating capacity of222 ± people
Shadetree Restaurant: Seating capacity of 200 ± people
Sonny's Bar-B-Que: Seating capacity of 176 ± people
Bonanza Steak House: Seating capacity of264 ± (very dense)
Numerous fast food restaurants including Burger King, Dominos, Dairy Queen, Arby's, Popeyes, Captain D's, Arthur Treachers, Wiener King, etc.

INDUSTRIAL:
Century Boat Plant; 151,785 sfbuilding area, on a 10.94-acre site.
Eastern Ship Yard-Nelson Street; 57,219 sf manufacturing and office space on a 10.909-acre water front site.
Eastern Ship Yard-Allanton; 152,126 ± sf manufacturing and office space on a 142.54 ± acre
water front site.
Northwood Properties, Inc. ownership; 170.50-acre industrial site; Santa Rosa County.
Daffin Food Service distribution facility; Jackson County.
Wellstream Plant; a 181,800-sfheavy industrial facility on a 30-acre waterfront site with 85' eave height, lift capacity of550 tons.
National Fiberglass Plant: A light industrial building.
Continental Teledyne Plant: A heavy industrial building.

Aladdin Manufacturing Co. Plant: A light industrial building.
Pacifica Yachts Plant: Manufacturers of yachts.
Sikes Concrete Company: Concrete pipe manufacturing.
West Rock Port terminal: Panama City, Florida.
Miller Marine Yacht Services: Bay County, Florida.

SHOPPING CENTERS:
Mariner Plaza Shopping Center; Ft. Walton Beach, Florida
Mariner Plaza Shopping Center; Panama City, Florida
23rd Street Plaza Shopping Center; Panama City, Florida
Nine Mile Plaza Shopping Center; Pensacola, Florida
Stanford Station Shopping Center; Panama City, Florida
The "Y" Shopping Center; Panama City Beach, Florida
Eleventh Street Center; Panama City, Florida
Springfield Plaza; Springfield, Florida
Gilbergs Plaza Shopping Center; Panama City, Florida
Hickory Street Shopping Center; Panama City, Florida
Rivergate Plaza Shopping Center; Marianna, Florida

APARTMENT COMPLEXES:
l)	Meadowrun Apartments (200 units); Pensacola, Florida
Cedar Town Apartments (I 12 units) on 7.10 acres
Turtle Lake Apartments (200 units); Panama City, Florida
Cameron at Woodcrest (222 units); Tallahassee, Florida

AUTO DEALERSHIPS:
Cook-Whitehead Ford - Truck lot and body shop; Panama City, Florida
Bill Cramer Chevrolet, Cadillac, Buick, GMC; Panama City
Bay Lincoln Hyundai; Panama City
Bay Dodge, Chrysler Jeep; Panama City
John Lee Nissan / Panama City
Panama City Toyota; Panama City, Florida

VARIOUS OTHER APPRAISALS:
Single family residences and condominium units (over 3,000), apartment complexes, retail buildings, warehouses, subdivisions, office buildings, marinas, churches, health spas, cold storage facilities, a barrier island and numerous large tracts of gulf front land, as well as, a variety of special purpose properties.

PROFESSIONAL EXPERIENCE

After graduating from the University of Florida, I entered the real estate profession as a full time appraiser with Merriam Realty under the supervision of Mr. Lauren E. Merriam.

In 1975, I left Merriam Realty to set up an appraisal department at Security Federal Savings and Loan Association of Panama City. During my employment with Security Federal, I either perfonned or reviewed all appraisals accepted by the Savings and Loan Association.

In 1977, I accepted a position with Freedom Federal Savings & Loan Association ofTampa, Florida, as manager of the Panama City Beach Branch Office. During this tenure of employment, I kept in touch with the real estate market by underwriting mortgage loans and reviewing real estate appraisals.

In August of 1978, I established Adkinson-Chandler Real Estate Appraisers, Inc. In 1983, I acquired my partner's interest in the company and the name of the business was changed to Chandler and Associates, Inc. I am presently employed as a full time appraiser and President of Chandler and Associates, Inc.

I have served as an instructor ofreal estate and member of the Real Estate Advisory Council of Gulf Coast Community College. Also, I have testified as an expert witness in Federal Court and in the Circuit Courts of Florida. I have also testified before the Cabinet of the State ofFlorida on state land acquisition and endangered land values.

As of the date of this report, Randall C. Chandler, MAI had completed the requirements of the continuing education program of the Appraisal Institute.

Tab 3

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- -	_::._ +98.5	+98.4	+98.5	'--- 6"WHITE  .	-	V)

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--------<---+---- ----------€--	\  ,n-----;;;-ir/	7,,_/7/:.	-.-------.,---------- -..::•..gL---\.1	,--	"'Cj

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/	+47.8 POWELL ADAMS ROAD	+59.9	/	\	(2'  4' SKIP)	+98.5	/	30' SPACING

•

aj

+47.8

+98.5	+98.3	I

B/L CONST.

±59.9

6" WHITE --	--...._  +98:-!r	--	--	_,,,- 18" YELLOW @	;,.,

p  O WELL	A D f3f	S	RO A D +72.+;2 0 \	137		 1	12" WH_J.jt;_o '	\	+79.0	-	l.J,Y	'	"'	'-.	\	'	'	.,
I	'	'---  6" WHITE	,,..	,	,.	•	■	\	-  -  -  -	'-f\,l.-  -	-  _\	_	• +78·5	6" WHITE	z........:s:._· 06" DBL. YELLOW

I
l.i..J

.b. /	e/	J7"""::::::	23	I	;,I	I	 +74-9\ 	dl	,...	w/ BDY RPM's@ 30'	i	;,.I	--...J
! I	'.)	/.-	+5081	_//	//	-----	24WH"ITE	+29·5 I\	7 -	+62·2  +65.11	.,	-- 	':J

[

1--.  #
0

r16,;36?')	13.36' RT EXIST. R/w LINE	//	No	6" WHITE	'\	1+45.5	+60.3	c	:;	rop:i'I R,-._,

/1/

_0_ - ]	PROP. R/W LINE	+87.28	{18•x24?	FISHING	V	'\, -, \ \I	_	/	)	(.JOx.JO')	•

1--.

i::
-

"'C	700-20-40	•	,..I""1.,..00,..._..,.2.,..o-"'"'1.,..1-,I SWIMMING   14.7	v_-tc...J>?.Q n +56.7 _,+74.6 I	1
(RELOCATE)	//	13.47' RT	BOATING

100-20-11	"'C

"	'¥	FROM STA. 144+57	/	,	"====="	r-LJI	-	I	DEAD	(.J) W14-1

·;;

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■

PROP. R/W LINE

/	/		

+11.40 /	46.81' RT	47.44' RT

0
g;

.,

REVISIONS

,,.,..1..iiii1111_1_ri_i_J_•_1_1

m111,,1,,,_.....,	45.14'RT

...11,,.	,

NAME	DATE

......
SHEET

t,-N=o""T.----::-,DA=r=-E--r---=DE=s=c=R1P=r=1o"'N

""TA""'P=PR=o=v=ED:-l m

I

!;t,. ::;.	(Lii';:. - : :;:;	103IW.23R8d.Street,

SIGNING AND PAVEMENT

NO

i:7:d?c:;eArch. (Lie.!: =;	Panama

MARK/NG PLANS

.

DESIGNED BY:	YEP	12-2011	
DRAWN BY:	JCP	12-2011	
CHECKED BY:	KRL	12-2011	

li

ll		

V	+41.76 /	+49.24	! 700-20-11  !	J 

::!r;;: e:=t :;::t

!:, L32405

·1

Planners	P!Z::e:s!i. :: ::o
t---+----+----------+----1----	www.cphengineers.com
0	@2012 Traffic/Transportation

POWELL ADAMS ROAD

ROADWAY IMPROVEMENTS TO

SEGMENT 2 RECONSTRUCTION

SUPERVISED BY:

YEP

12-2011

YVONNE PAGUADA, P.E. FL P.E. No. 67437

PQWEL [	ADAMS RQA D	49

c::,
c::,

0	10	40

Feet

+08.05
49.38' LT

......._	lflS-3

100-20-11  I

Hr-I=(.=36--,• ,..,.,3/J....,"),.,.	,

+22.47
/	0.01' LT

EXIST. R/W LINE \

(J6"xJ6")	#

FROM STA. 149+27
r 6" WHITE (10'-30' SKIP)

+58.05
\47.88'  LT

R4-7
(24..x.10"}
I 700-20-11  I

i-

.......

-----------	/ :
I
-

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I

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ir,

1
,-

--		B/L	CONST.l POWELL ADAMS ROAD

/

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:::=

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+66.48
5.49' LT

I	4J

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W/R RPM'S @ 40'

•

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PROP. R/W LINE J

L	- [	700-20-40  J

W/R RPM'S @ 20'

12" WHITE _y

[  700-20-40 JL	♦

RH\

::,h

I •.,,,,,. I

R4-7	(R£LOCATC)
(24''xJO")  FROM STA. 148+0.1

PROP. R/W LINE

(24 ''xJO") \
_JJ
(RELOCATE)	\'

rIt:iI	I

(REMAIN)	(F(REMAI		\ s  Tl N G R A y

0	10

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(REMAIN)	I	I

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,		n  I	dQlS	.. EXIST.	:f	YELLOW	I-  0:::

c::,

c::,

EXIST. R/W LINE

I	(RELOCAlE) TO STA. 144+58.05

\

(REMAIN)	'\.	11yc\\	24	WHITE	, ,

't\

6"  WHITE {10'-30' SKIP)  "'	_  _	---- ---- _	1	'\.	+56.8	C::,

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POWELL	ADAMS

ROAD

POWELL ADAMS ROAD

+58_0"'"' r R6t'	(2'-4' SKIP)	_	+77.9	'°"

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12" WHITE

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·-	(RELOCAlE) TO STA. 142+21	STOP

..g,

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EXIST. 24" WHITE	-	E. 'Ii T. 6" DBL.
-1----------------------I----Yi   -LOW-------

g;	REVISIONS

!

..,.N=o."T...,D,.....,A=TE::--r----=D=Es=c=R=1pr=1o=N,----""TA=P=PR""o"'""vE=1D  .	, ..	;t,. ;;;.	(L,i';:. _ ; !!!!	1031W/3,R 5treet,
a:iJ	I	Ill, t;2!::•Arch.	(Lk.!: :; P;::-::: i'.s -! ! 5

ROADWAY IMPROVEMENTS TO POWELL ADAMS ROAD

DESIGNED BY:	YEP	12-2011	
DRAWN BY:	JCP	12-2011	
CHECKED BY:	KRL	12-2011	

NAME	DATE

SHEET
SIGNING AND PA VEMEN T	NO.

VVL l

MARKING PLANS

-i::
0

-		EnvironmentalScientists		Fax,850.563.1495 Construction Management	www.cphengineers.com
@20121 Traffic/Transportation

SEGMENT 2 RECONSTRUCTION

SUPERVISED BY:

YEP

12-2011

YVONNE PAGUADA, P.E. FL P.E. No. 67437

PQIA!C[L	ADAMS ROAD	50

EXIST. R/W LINE \
6" WHITE
W/R RPM'S @ 20' 

0	10

Feet

 END PROJECT P STA. 154+20. 00 POWELL ADAMS

STARFISH
STREEflo
i,  }---/+.{-+,  D

EXIST. R/W LINE J

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+49.5

+99.4
+19.9

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EXISTING

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---.J

-I -ie25.1
EXIST. R/W LINE

154

+75.1	+05.0
6" YELLOW
6" WHITE

+19.9

MATCH EXISTING

155

/I
B/L  CONSf.
POWELL ALfA S ROAD

----     -==·===============::;;::==1

POWELL	ADAMS	ROAD

EXIST. R/W LINE

:t: 	
(._)

"'

6" WHITE (10'-JO' SKIP) W/R RPM'S @ 40'

1

1--..    		 	
PROP. R,l)V LINE

ROADWAY IMPROVEMENTS TO POWELL ADAMS ROAD SEGMENT 2 RECONSTRUCTION

NAME	DATE

DESIGNED BY:	YEP	12-2011	
DRAWN BY:	JCP	12-2011	
CHECKED BY:	KRL	12-2011	

SUPERVISED BY:	YEP	12-2011

Tab 4

POWELL ADAMS RD. B/L	SURVEY
R/WLINE

B/L

CONST. POWELL ADAMS RD.

PROPOSED
R/W LINE

	33' R/W	

77' R/W

I

	5R0'/W	50' R/W	I

13'	26'	11'	11'

26'

13'	:

6'	2

I

4'	11'	11'

THRU	THRU
BIKE	TRAFFIC	TRAFFIC

,	2.25'	2.25'7
11	8.75'	8.75'	11
LANDSCAPE

11'	11'

THRU	THRU
TRAFFIC	TRAFFIC

LANE

BIKE

2'1
6'	[		/3'	
I
I
I

1

I
MATCH EXIST. GRADE	1

---'--- ---

4"

0. 02

LANE

S.B.

PROF E
...

S.B.
GRADE_ LINE...	\

N.B.	N.B.

PROF E GRADE
tLINE	t

-	4-"-

I

I

I	MATCH EXIST. GRADE

NA WRAL	::

,-.It '-':-Mr'--'A_'--'-x  jr.	0.02	0.02	I	0. 02	At----'o:...:.·-=.o:::.2 

I
0:..;.· 0 2-t1'f	0. 02	I	0. 02	0. 02	, 1+	_-i ·A-j-0_13--r---..

I	NATURAL

GROUND

I	[\
I

I

\  \  \  \  \ \  \ \  \	\· .\ \  \  \ \  \  \   \ 	CURB AND GUTTER  I	I I I I I I I 1,,,/  I  I  I j I I  I  I  // 
T EE

12"-	"----..   12"	TYPE B STAB/LIZA T!ON LBR 40
-	CURB AND GUTTER TYPE F

--- _1:-:£.   

I

I

I

-	4" THICK CONCRETE SIDEWALK
L	 SOD SLOPED AT 0. 02 MAX FOR 2'

TYPICAL	SECTION

CURB AND GUTTER TYPE F -
4" THICK CONCRETE SIDEWALK-

L	1:3 OR TO SUIT PROPERTY OWNER

POWELL	ADAMS ROAD STA.	142+10		TO STA.	155+60

SOD SLOPED AT 0.02 MAX FOR 2'-
1: 3 OR TO SUIT PROPER TY OWNER -

a"'l

C"
-

Cl

11'

iJJI

-

143+60. 00
TO 146+50. 00
+\
,	0.02	I

I I I I I I l,f 

NI

E
C.
f:J
"
!<l
N

LcuRB  AND  GUTTER	I
TYPE E
12" TYPE B STAB/LIZA T!ON LBR 40-

f

0

;;
0
Cl'.

I

en
a.

N.B.	LEFT	TURN LANE STA.	143+6000	TO	146+50
TRAFFIC DA TA	NEW CONSTRUCTION

NOTE:

C:
Cl
"iii
"
·2;;

CURRENT YEAR	= 2011 AADT = 2,968 ESTIMATED OPENING YEAR = 2013 AADT = 3,149 ESTIMATED DESIGN YEAR  = 2030 AADT = 5,205 K = 8.39%  D = 53.68%  T = 6.34% (24 HOUR)
DESIGN SPEED = 40 MPH

1031 W. 23 Rd. Street,
SuiteC	ROADWAY IMPROVEMENTS TO	DESIGNED BY:	YEP	12-2011	
Panama City, FL 32405
Phone: 850.563.1490	POWELL ADAMS ROAD	DRAWN BY:	JCP	12-2011	

=.i.!

OPTIONAL BASE GROUP 8 WITH
TYPE SP 12.5 STRUCTURAL COURSE (TRAFFIC C) (1 f')
AND FRICTION COURSE FC-12.5 (1 ½'') (RUBBER)

SOD ALL DISTURBED AREAS.
SEE MISCELLANEOUS DETAILS FOR SPECIAL SIDEWALK DETAIL

0

l .0.,

POSTED SPEED = 30 MPH

-Ii

-	■

ill

■■■

il■

-1----------------------------------

g;	REVISIONS
i-,-,N,=--o_-r--=-D=Ar==-E -----=,DE=s=cR=1p=r1o=N,	,,,.,,AP=PR=-=o=vE==-10

-
0

Construction Management

I

@2012 Traffic/Transportation

NAME	DATE
Fax: 850.563.1495	SEGMENT 2 RECONSTRUCTION	CHECKED BY:	KRL	12-2011
www.cphengineers.com	YVONNE PAGUADA, P.E.
SUPERVISED BY:	YEP	12-2011	FL P.E. No. 67437

SHEET
TYPICAL SEC T/ONS	NO.
5

Tab 5

OFFER AND AGREEMENT FOR
THE PURCHASE AND SALE OF REAL PROPERTY INTEREST(s) BAY COUNTY
CITY OF PANAMA CITY BEACH
Project:	Front Beach Road Segment 3
Parcel No.:	773
Tax ID No.:	33750-100-000
THIS AGREEMENT (“Agreement”) is made and entered into this    day of 	, 2023 by and between Pier Park Community Development District, a special purpose unit of local government established pursuant to Chapter 190, Florida Statutes, (hereinafter called “Seller”) and the City of Panama City Beach, (hereinafter called “Buyer”);

WITNESSETH
For and in consideration of the mutual covenants, and conditions herein contained, Seller hereby agrees to sell and convey and Buyer hereby agrees to purchase the following real property interest upon the terms and conditions contained in this Agreement:

That the undersigned has been authorized by the Buyer to enter into an agreement to purchase and acquire that certain property, or interest therein, of the Seller as described in the attached Exhibit “A” (hereinafter the “Property”);

That in order to construct the above referenced project (hereinafter called the “Project”) it is necessary that Buyer acquire from Seller the Property or Seller’s interest in the Property as that portion of Tax ID #33750-100-000 (Powell Adams Road) Bay County, Florida, containing 5,751.91 square feet, more or less, referred to as parcel 773 (Temporary Easement).

Property Address or description of its location: Powell Adams Road, Panama City Beach, Florida 32413

That Buyer is offering to acquire the Property or interest therein under the threat of condemnation pursuant to its authority under Chapters 73, 74, and 166, Florida Statutes.

That the amounts paid by Buyer to Seller pursuant to this Agreement represent any and all compensation to which the Seller is entitled for the Buyer’s acquisition of the Property and construction of the Project.

DESCRIPTION
Real property interest in the Property described as:
Parcel 	 Fee Simple
Parcel 	Permanent Electric Utility Easement Parcel  773 Temporary Construction Easement
PURCHASE PRICE*
Fee Simple Real Property
Land	$ 0.00
Improvements	$ 0.00
Real Estate Damages
(Severance/Cost-to-Cure)	$ 0.00
Easements
Permanent Electric Utility Easement	$ 0.00
Temporary Construction Easement - Parcel 773	$ 600.00
Total Real Property	$ 0.00
Incentive (see paragraph 5)
Parcel 	 Fee Simple	$ 0.00
Parcel 	 Permanent Electric Utility Easement	$ 0.00 Parcel  773  Temporary Construction Easement	 $ 1,000.00

Total Offer Amount	$ 1,600.00
FEES AND COSTS*
Attorney fees and costs**	$ 2,000.00
Expert costs, if any, will be paid pursuant to Florida Statutes 73.091 at closing.
* Right-of-way agent does not have any authority to alter the terms of this offer. Any and all modifications, addendums, or counteroffers must be reviewed and approved by Buyer’s Right-of-Way Manager and/or Counsel prior to acceptance.
**This amount will only be paid upon Buyer’s receipt of an executed attorney authorization letter from Seller.

The incentive offer amount is being made to encourage early settlement and reduce right of way costs and shall expire and be permanently withdrawn upon the filing of an eminent domain lawsuit in the circuit court for Bay County, Florida, which shall occur no sooner than thirty (30) days after the delivery of this offer or the date the offer is returned as undeliverable by postal authorities. Therefore, at the time the lawsuit is filed, the total offer for the Property will be reduced to $600.00.

This Agreement contains the total amount that Buyer will provide as reimbursement for any attorneys’ fees and costs that Seller may choose to incur while reviewing this transaction. The attorney fees and costs in paragraph III above will only be paid to Seller’s attorney(s) if Buyer has received an executed attorney authorization letter from Seller prior to closing. You may choose not to hire an attorney, and in such instances any appraisal fees incurred by Seller in reviewing this offer will be reviewed by Buyer and must be settled prior to closing. As stated above, at 4) III. b. expert costs, if any, will be paid pursuant to Florida Statutes 73.091.

Seller is responsible for delivering marketable title to Buyer, free and clear of liens or encumbrances, which materially affect the value of the Property. If material liens or encumbrances shall be found, Seller shall have a reasonable time in which to cure said defects. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar in accordance with Florida Law subject only to those exceptions that are acceptable to Buyer. Seller shall be liable for any encumbrances not disclosed in the public records or arising after closing as a result of the actions of Seller, unless this requirement is waived by Buyer, at its sole discretion.

Conveyance of the Property from Seller shall be by:

Parcel 	 Warranty Deed
Parcel 	 Permanent Electric Utility Easement
Parcel  773  Temporary Construction Easement

to the City of Panama City Beach, a Florida municipal corporation, in a form acceptable to Buyer, as provided in the attached Exhibit “B”.

At closing, Buyer shall pay closing costs including title insurance charges, documentary stamps, and recording fees.

At closing, Seller shall only be responsible for payment of taxes (prorated though date of closing in accordance with Section 196.295, Florida Statutes), payment of any judgments, liens, mortgages, deeds of trust or other such encumbrances against the Property, and any commissions due to realtors or real estate brokers.

Seller shall maintain the Property described in Exhibit “A” of this Agreement until the day of closing. The property shall be maintained in the same condition existing on the date of this Agreement, except for reasonable wear and tear.

Seller shall remove all personal property from the Property described in Exhibit “A” on or before the date of closing.

Seller and Buyer agree that a real estate closing pursuant to the terms of this agreement shall be contingent on delivery by Seller of an executed Public Disclosure affidavit in accordance with Section 286.23, Florida Statutes.

Seller and Buyer agree that this Agreement represents the full and final agreement for the herein described sale and purchase and no other agreements or representations, unless incorporated into this Agreement, shall be binding on the parties.

Time is of the essence in this Agreement.

This Agreement shall be binding upon the parties hereto, their heirs, successors and assigns, subject to the Buyer’s approval process described below:

Acquisitions for which the “Total Offer Amount” does not exceed $25,000.00 may be approved by the City Manager, who is authorized to sign this Agreement on behalf of Buyer pursuant to Section 5-6 of the City of Panama City Beach Charter.

Acquisitions for which the “Total Offer Amount” exceeds $25,000.00 shall be wholly contingent upon the City of Panama City Beach City Council voting to approve this Agreement. If the Council’s decision is yes, the City Manager will be authorized to execute this Agreement on behalf of Buyer. If the Council’s decision is no, this Agreement will have no further force and effect.

Any typewritten or handwritten provisions inserted into or attached to this Agreement as addenda must be initialed by both Seller and Buyer. Right-of-way agents for Buyer do not have any authority to negotiate or accept any addenda, modifications, or counteroffers to this agreement. Any and all addenda, modifications, or counteroffers to this agreement must be reviewed and approved by Buyer’s right-of-way manager prior to acceptance.

[ X ] There is an addendum to this agreement. Page 4 is made part of this agreement
[	] There is not an addendum to this agreement.	Page 2 of 4

IN WITNESS WHEREOF, Seller and Buyer hereby acknowledge that their signatures as Seller and Buyer below constitute their acceptance of this agreement.

SELLER(S):	BUYER:

CITY OF PANAMA CITY BEACH

Signature	Date

BY:

 	
Type or Print Name	Signature	Date

Drew Whitman, City Manager
Signature	Date	Type or Print Name and Title

ATTEST:
Type or Print Name

Lynne Fasone, City Clerk

	/s/ Amy Myers			Amy Myers, City Attorney		 		
Approved as to Form	Type or Print Name	Date	

Delivered By	Type or Print Name	Date

Receipt Acknowledged By	Type or Print Name	Date

Page 3 of 4

EXHIBIT “B” TO
OFFER AND AGREEMENT FOR
THE PURCHASE AND SALE OF REAL PROPERTY INTEREST(s) BAY COUNTY
CITY OF PANAMA CITY BEACH

Tab 6

ADDENDUM TO TEMPORARY CONSTRUCTION EASEMENT

Project:	Front Beach Road Segment 4.1 Parcel No.:	773

THIS ADDENDUM (the “Addendum”) is attached to and shall form part of the Temporary Construction Easement entered the 	 day of March, 2022 between PIER PARK COMMUNITY DEVELOPMENT DISTRICT (collectively, “Seller”) and the CITY OF PANAMA CITY BEACH (“Buyer”). In the event of any conflict between the terms of the Temporary Construction Easement and the terms of this Addendum, then the terms of this Addendum shall control.
All terms defined in the Temporary Construction Easement shall have the same meaning when used in this Addendum.

Following completion of the work to be performed, Buyer shall restore the Property to substantially the same condition as existed prior to such work.

Seller’s Initials 		Buyer’s Initials 	

Page 4 of 4

Tab 7

Hand Arendall Harrison Sale, LLC Amy E. Myers, Esquire
16901 Panama City Beach Pkwy, Panama City Beach, FL 32413
Parcel Tax Identification Number: 33750-100-000

Parcel No: Project: County:

773
Front Beach Road Segment 4.1, Powell Adams Bay

THIS EASEMENT made this 	

TEMPORARY EASEMENT
day of	, 2022, by and between PIER

PARK COMMUNITY DEVELOPMENT DISTRICT, a special purpose unit of local government established pursuant to Chapter 190, Florida Statutes, whose address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614, grantor, and the CITY OF PANAMA CITY BEACH, whose address is 17007 Panama City Beach Parkway, Panama City Beach, Florida 32413, its successors and assigns, grantee.

WITNESSETH that for and in consideration of the sum of One Dollar and other valuable considerations, receipt and sufficiency of which is hereby acknowledged, the grantor hereby gives, grants, bargains and releases to the grantee, a temporary easement for the purpose of constructing the project according to current construction plans in, upon, over and through the following described land in Bay County, Florida, described as follows, viz:

POWELL ADAMS ROAD

TEMPORARY CONSTRUCTION EASEMENT

A PARCEL OF LAND LYING AND BEING IN SECTION 20, TOWNSHIP 3 SOUTH, RANGE 16 WEST, BAY COUNTY, FLORIDA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT A POINT MARKING THE INTERSECTION OF THE NORTHEASTERLY RIGHT OF WAY LINE OF U.S. HIGHWAY 98 {FRONT BEACH ROAD) AND THE NORTHWESTERLY RIGHT OF WAY LINE OF POWELL ADAMS ROADS AND PROCEED NORTH 32 DEGREES 18 MINUTES 56 SECONDS EAST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF
724.66 FEET TO THE SOUTHEAST CORNER OF PROPERTY RECORDED IN OFFICIAL RECORDS BOOK 3277, PAGE 919 OF THE PUBLIC RECORDS OF BAY COUNTY, FLORIDA, FOR THE POINT OF BEGINNING; THENCE LEAVING SAID NORTHWESTERLY RIGHT OF WAY LINE PROCEED NORTH 00 DEGREES 40 MINUTES 09 SECONDS EAST, ALONG THE EAST BOUNDARY LINE OF SAID PROPERTY, FOR A DISTANCE OF 13.34 FEET; THENCE LEAVING SAID EAST BOUNDARY LINE PROCEED NORTH 32 DEGREES 19 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF
816.00 FEET TO THE SOUTHWESTERLY RIGHT OF WAY LINE OF LC. HILTON DRIVE (66' RIGHT
OF WAY); THENCE SOUTH 57 DEGREES 59 MINUTES 39 SECONDS EAST, FOR A DISTANCE OF
7.00 FEET TO THE INTERSECTION OF SAID SOUTHWESTERLY RIGHT OF WAY LINE WITH THE NORTHWESTERLY RIGHT OF WAY LINE OF AFORESAID POWELL ADAMS ROAD; THENCE SOUTH 32 DEGREES 19 MINUTES 07 SECONDS WEST, ALONG SAID NORTHWESTERLY RIGHT OF WAY LINE, FOR A DISTANCE OF 827.40 FEET TO THE POINT OF BEGINNING.

CONTAINING 5751.91 SQUARE FEET OR 0.132 ACRES, MORE OR LESS.

IT IS UNDERSTOOD and agreed by the parties hereto that the rights granted herein shall remain in effect for a term of 3 years from the construction start date of the Project (Notice to Proceed date) or until the completion of construction of the Project which is anticipated to be October 2026.

IN WITNESS WHEREOF. the said grantor has signed and sealed these presents the day and year above written.

Signed, sealed and delivered in the presence of:
(Two witnesses required by Florida Law)

Pier Park Community Development District

By:

1st witness signature	Print Name:

Print 1st witness name	Its:

Title

Address of granter:

2nd witness signature

Print 2nd witness name

STATE OF FLORIDA

COUNTY OF 	
The foregoing instrument was acknowledged before me, by means of□physical presence or Oonline notarization, this 	 day of 	,2022, by
		who is personally known to me or who has

produced 	 _

as identification.

Affix Seal

(Type/print or stamp name under signature) Title or rank (Serial No.. if any)

Tab 8

PIER PARK COMMUNITY DEVELOPMENT DISTRICT

DISTRICT OFFICE · 120 RICHARD JACKSON BLVD · SUITE 220 · PANAMA CITY BEACH, FLORIDA 32407

Joe Brown
Kutak Rock, LLP
l07 W College Avenue Tallahassee, Florida 32301

Our auditors, Berger, Toombs, Elam, Gaines & Frank, are conducting an audit of our financial statements as of September 30, 2022 and for the year then ended. Please furnish to them the information requested below involving matters as to which you have been engaged and to which you have devoted substantive attention on behalf of the District in the form of legal consultation or representation.

PENDING OR THREATENED LITIGATION. CLAIMS AND ASSESSMENTS (excluding
unasserted claims and assessments)

Please furnish our auditors with a description of all material pending or threatened litigation, claims and assessments (excluding unasserted claims and assessments). Materiality for the purposes of this letter includes items involving amounts exceeding $5,000 individually or in the aggregate. The description of each case should include:

the nature of the litigation;

the progress of the case to date;

how management is responding or intends to respond to the litigation, e.g., to contest the case vigorously or to seek out-of-court settlement, and

an evaluation of the likelihood of the unfavorable outcome and an estimate, if one can be made, of the amount or range of potential loss.

Also, please identify any pending or threatened litigation, claims and assessments with respect to which you have been engaged but as to which you have not devoted substantive attention.

UNASSERTED CLAIMS AND ASSESSMENTS

We understand that whenever, in the course of performing legal services for us with respect to a matter recognized to involve an unasserted possible claim or assessment that may call for financial statement disclosure, you have formed a professional conclusion that we should disclose or consider disclosure concerning such possible claim or assessment, as a matter of professional responsibility to us, you will so advise us and will.consult with us concerning the quest_io_n of such disclosure and the applicable requirements of Statement of Financial Accounting Standards No. 5. Please specifically confirm to our auditors that this understanding is correct.

We have represented to our auditors that there are no unasserted possible claims or assessments that you have advised us are probable of assertion and must be disclosed in accordance with Statement of Financial Accounting Standards No. 5.

RESPONSE

Your response should include matters that existed as of September 30, 2022 and during the period from that date to the effective date of your response. Please specify the date of your response if it is other than the date of reply.

Please specifically identify the nature of, and reasons for, any limitations on your response.

OTHER MATTERS

Please, also indicate the amount that the District was indebted to you for services and expenses on September 30, 2022.

Please reply directly to our auditors: Berger, Toombs, Elam, Gaines & Frank, audit@btef­ cpas.com or mail responses to 600 Citrus Avenue, Suite 200 Fort Pierce, FL 34950. A postage paid envelope is provided for your mailing convenience. Your prompt attention to this request would be greatly appreciated.

Sincerely,

Scott Brizendine Treasurer
Pier Park Community Development District

Kutak Rock LLP
107 West College Avenue, Tallahassee, FL 32301-7707
office 850.692.7300

Joseph Brown
850.692.7300
joseph.brown@kutakrock.com

March 13, 2023

Berger, Toombs, Elam, Gaines & Frank 600 Citrus Ave, STE 200
Fort Pierce, FL 34950

Re: Pier Park Community Development District To Whom It May Concern,
By letter received February 27, 2023, Scott Brizendine, Treasurer for Magnolia Creek Community Development District (the “District”), has requested that Kutak Rock LLP (the “Firm”) furnish you with certain information in connection with your examination of the financial statements of the District as of and for the period ended September 30, 2022. If an update to this letter is required, we will respond in writing and will need a minimum of five business days from the date the request was received to respond.

We call your attention to the fact that while this law firm represents the District on a regular basis, our engagements have been limited to specific matters as to which we were consulted by the District. Accordingly, there may be matters that exist of a legal nature that could have a bearing on the District’s financial condition but as to which we have not been consulted.

It is our understanding that, by making the requests set forth in its letter to us, the District does not intend to waive attorney-client privileges with respect to any information that the District has furnished to us. Moreover, please be advised that our response to you should not be construed in any way to constitute a waiver of the protection of the attorney work product privilege with respect to any of our files involving the District.

Subject to the foregoing and to the qualifications set forth in this letter, we advise you that we have not been engaged to give substantive attention to, or represent the District in connection with, any material loss contingencies coming within the scope of clause (a) of paragraph 5 of the Statement of Policy referred to below, existing at September 30, 2022, or during the period from that date to March 5, 2023 (the “Effective Date”), except as follows:

Casandra Tyler v. Pier Park Common [sic] Development District, et al., Case No. 19002984CA

In August 2019, the District was served with a complaint alleging injuries from a trip-and- fall in April 2016 on a sidewalk within the Pier Park development. The District advised their insurer and insurance defense counsel has been appointed. Discovery deadlines have nearly past and mediation resulted in an impasse. The case is currently set for trial the week of June 5,

2023. At this time we cannot express a judgment as to the likelihood of an unfavorable outcome, nor can we estimate the amount of potential loss.

For purposes of this letter, we have adopted the definition of materiality set forth in the Company’s audit letter to us. We have limited our response accordingly to matters that exceed
$5,000.00 individually or in the aggregate.

This response is limited by and written in accordance with the American Bar District Statement of Policy Regarding Lawyers’ Responses to Auditors’ Requests for Information (December 1975) and related commentary (collectively, the “Statement of Policy”). Pursuant to clauses (b) and (c) of Paragraph 5 of the Statement of Policy, it would be inappropriate for this firm to respond to a general inquiry relating to the existence of unasserted possible claims or assessments or contractually assumed obligations involving the District. We can only furnish information concerning those unasserted possible claims or assessments or contractually assumed obligations upon which the District has specifically requested, in writing, that we comment. Further, we cannot comment upon the adequacy of the District’s listing, if any, of unasserted possible claims or assessments or contractually assumed obligations or its assertions concerning the advice, if any, about the need to disclose same.

This response is limited to matters with respect to which those lawyers presently in our firm have rendered substantive legal advice or representation to the District during the period from the commencement of the District’s last fiscal year to the Effective Date. Further, the information set forth herein is as of the Effective Date (unless otherwise noted), and we assume no obligation to advise you of any matters which are subsequently brought to our attention and which may have an effect upon the contents hereof. Please also note that we have not undertaken any special review of files or documents in our possession concerning the District.

Without limiting the generality of the foregoing, the limitations set forth in Paragraphs 2 and 7 of the Statement of Policy upon the scope and use of this response are specifically incorporated herein by reference, and any description herein of any “loss contingencies” is qualified in its entirety by Paragraph 5 of the Statement of Policy.

Consistent with the last sentence of Paragraph 6 of the Statement of Policy, and pursuant to the District’s request, this will confirm as correct the District’s understanding, as set forth in its audit letter to us, that whenever, in the course of performing legal services for the District with respect to a matter recognized to involve an unasserted possible claim or assessment that may call for financial statement disclosure, we have formed a professional conclusion that the District must disclose or consider disclosure concerning such possible claim or assessment, we, as a matter of professional responsibility to the District, will so advise the District, and will consult with the District concerning the question of such disclosure and the applicable requirements of FASB Accounting Standards Codification 450, Contingencies (formerly Statement of Financial Accounting Standards No. 5).

Our accounting records indicate that on September 30, 2022, the District was indebted to our firm for $7,647.50 in billed and $2,707.50 in unbilled legal fees and expenses.

This letter is solely for use in connection with your audit of the financial statements of the District as of and for the period ended September 30, 2022, and is not to be quoted in whole or in part or otherwise referred to in any financial statements of the District or related documents, nor is it to be filed with any governmental agency or other person, without the prior written consent of this firm.

KUTAK ROCK LLP

By:		 Joseph Brown, Partner

cc:	Mr. Brizendine

Tab 9

The Pier Park Community Development District ("District"), the City of Panama City Beach, Florida; the Panama City Beach Community Redevelopment Agency, and The St. Joe Company ("St. Joe"), previously entered into the Amended and Restated Public Improvement Partnership Agreement ("PIPA") as recorded in the Bay County Official Records at Book 3611, Page 308. Capitalized terms used herein are as defined in the PIPA unless otherwise noted. The PIPA provides for certain Pier Park Occupational License Tax Revenues ("OLTR") to be used for certain prioritized purposes, including the repayment of Subordinated Notes issued by the District to St. Joe. The District's obligation under the PIPA to repay Subordinated Notes ceases after due and appropriate application of OLTR collected as part of the Annual Reinvestment for Fiscal Year 2021-2022 (Fiscal Year ending September 30, 2022). Subordinated Notes outstanding after that point are deemed satisfied and discharged.

Upon receipt of a final OLTR payment in the amount of $775,910.48 ("Final Payment") in connection with the satisfaction of due and appropriate application of OLTR from the Annual Reinvestment for Fiscal Year 2021-2022 to outstanding Subordinated Notes, St. Joe hereby acknowledges that the District has fully satisfied its obligation to make any payments to St Joe in connection with any Subordinated Notes previously issued by the District to St. Joe under the PIPA. Upon receipt of the Final Payment St. Joe hereby further waives, relinquishes, and releases forever any and all rights to a claim for payment as regards any Subordinated Notes issued under the PIPA and any other charges, claims, suits, complaints, or grievances of any kind or nature,
.· whether known or unknown at the time of execution of this waiver and release, against the District arising from or connected in any manner with the District's obligations under the PIPA as regards the Subordinated notes. St. Joe agrees upon reasonable notice, to jointly participate in the defense of any of any claim or litigation in which the Final Payment is challenged including without limitation, defending the validity of the Final Payment, furnishing such information and providing proper assistance to the District as may reasonably be required by the District in connection with the defense of any such claim. The District shall defend and indemnify St. Joe from any claims resulting from, arising out of, related to, or regarding any negligent acts or omission of the District, its officers, or agents relating to or regarding the District's Final Payment of OLTR to St. Joe. Nothing herein, however, shall constitute or be construed as a waiver of the District's limitations on liability contained in section 768.28, Florida Statutes, or otherwise provided by Florida law.

[Signature Pages on Following Pages]

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Pier Park Community Development District Signature Page

PIER PARK CgMMUNITY

ATTEST:
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Page2 of3

WAIVER AND RELEASE
AS TO REPAYMENT OF SUBORDINATED NOTES UNDER THE AMENDED AND RESTATED
PUBLIC IMPROVEMENT PARTNERHSIP AGREEMENT

The St. Joe Company Signature Page

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