ABCC Assignment of Floodplain Storage Rights to Selva Preserve - 04-13-21City of Atlantic Beach Mr. Steve Swann 800 Seminole Road Atlantic Beach, Florida 32233 Dear Mr. Swann, { ,' .P: , i -... .. '\ APR 1 3 2021 Enclosed please find a signed copy of the requested Assignment of Floodplain Storage Rights from Atlantic Beach Country Club to Selva Preserve, LLC. It's my understanding this is the final item needed from ABCC since Gemini was able to provide satisfactory flood compensation calculations. Please feel free to reach out to me regarding any additional questions at (904) 502-3781. c¥Q Jaime Eaton President, ABCC Cc: Alan Howard (via email)
ASSIGNMENT OF FLOODPLAIN STORAGE RIGHTS THIS ASSIGNMENT OF FLOODPLAIN STORAGE RIGHTS (this "Assignment") is made and delivered as of April tZ!, 2021 by Atlantic Beach Country Club, Inc., a Florida corporation ("Club"), whose address is 1600 Selva Marina Drive, Atlantic Beach, Florida 32233, to and in favor of Selva Preserve, LLC, a Florida limited liability company ("SP"), whose address is 248 Levy Road, Atlantic Beach, Florida 32233. Recitals A. Selva Marina Country Club, Inc., a Florida corporation ("SMCC"), and SP previously entered into that certain ·Easement and Flood Plain Compensation Agreement dated October 15, 2009 (the "Easement Agreement"), pursuant to which Club agreed to provide up to 30,000 cubic yards of floodplain storage at a location to be determined by the Club. Club is the successor in title to the real prope1ty subject to the Easement Agreement. Pursuant to the Easement Agreement: SP is allowed to utilize the Club Property to fulfill its FPC Requirements; the Club granted ce1tain easement rights to SP; and SP granted ce1tain easement rights to the Club. Capitalized te1ms used herein but not otherwise defined shall have the meanings ascribed thereto in the Easement Agreement. B. The obligations of the Club to SP were fu1ther memorialized by that ce1tain Acknowledgment and Release Agreement by and between the Club and SP dated as of January 3, 2020(the "Acknowledgement"). Pursuant to the Acknowledgment, SP agreed that the Club's obligations to SP under the Easement would be satisfied by the assignment of 3,000 cubic yards of floodplain storage to SP and provision of floodplain calculations and survey. The Club has provided SP and the City of Atlantic Beach that certain repmt of floodplain storage availability and survey prepared by Gemini Engineering & Sciences, Inc. dated February 26, 2021 (the "Gemini Report"). By delivery of this Assignment, the Club will have discharged its obligations to SP under the Easement and Acknowledgment. NOW, THEREFORE, in consideration of these mutual premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged the Club hereby assigns ce1tain flood storage rights to SP as follows: 1. Recitals. All of the above Recitals are fully incorporated herein by this reference. 2. Assignment. Pursuant to the Gemini Repo1t, as furnished to and approved by the City of Atlantic Beach, the Club has 5,007 cubic yards of flood plain storage available on the real property owned by the Club in its cmTent configuration. The Club hereby assigns to SP 3,000 cubic yards of flood plain storage and acknowledges that, after giving effect to such assignment, the Club only has 2,007 cubic yards of flood plain storage available on its real prope1ty in its current configuration.
IN WITNESS WHEREOF, the parties hereto have executed this Assignment of Flood Storage Rights as of the date first written above. CLUB: ATLANTIC BEACH COUNTRY CLUB, INC., a Florida corporation