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<br />OPINION OF TITLE
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<br />EXHIBIT
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<br />1}3
<br />
<br />TO: City of Sunny Isles Beach
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<br />With the understanding that this Opinion of Title is furnished to the City of Sunny Isles Beach (the
<br />"City"), as inducement for acceptance of a Covenant covering the real property, hereinafter described,
<br />it is hereby certified that I have examined Fidelity National Title Insurance Company's Title Policy
<br />No. 5332-84424, and Endorsement No. 1 thereto, and Attorney's Title Insurance Fund Title
<br />Computer Printouts covering the period from the beginning through July 15, 2001, at 11:00 p.m. (the
<br />"Effective Date"), of the following described real property:
<br />
<br />All of TANGIERS RESORT, A MOTEL CONDOMINIUM, according to the
<br />Declaration of Condominium thereof, as recorded in Official Records Book 13036, at
<br />Page 3240, ofthe Public Records of Miami-Dade County, Florida, and all exhibits and
<br />amendments thereto.
<br />
<br />a/k/ a Condominium Unit Nos. 102 through 112, 114 through 141, 200 through 212,
<br />214 through 237, 300, 400 and 500, of TANGIERS RESORT, A MOTEL
<br />CONDOMINIUM, according to the Declaration of Condominium thereof, as
<br />recorded in Official Records Book 13036, at Page 3240, of the Public Records of
<br />Miami-Dade County, Florida, and all exhibits and amendments thereto.
<br />
<br />I am ofthe opinion that on the last mentioned date, the fee simple title to the above-described
<br />real property was vested in:
<br />
<br />TANGIERS BEACH ASSOCIATES, a Florida general partnership
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<br />Subject to the following encumbrances, liens and other exceptions (If "none" please indicate):
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<br />1. RECORDED MORTGAGES:
<br />
<br />Mortgage Deed executed by Tangiers Beach Associates, in favor of Ocean Bank, dated June 10, 1999,
<br />recorded June 11, 1999, in Official Records Book 18647, at Page 4065, as modified by Modification and
<br />Ratification of Mortgage and Note Agreement and Spreader Agreement executed by Tangiers Beach
<br />Associates in favor of Ocean Bank, dated August 3, 1999, recorded August 6, 1999, in Official Records
<br />Book 18727, at Page 2421, Mortgage Modification Agreement executed by Tangiers Beach Associates
<br />in favor of Ocean Bank, dated January 19,2000, recorded January 27,2000 in Official Records Book
<br />18962, Page 1001; and Mortgage Modification Agreement executed by Tangiers Beach Associates in
<br />favor of Ocean Bank, dated July 2, 2001, recorded July 10, 2001 in Official Records Book 19769, Page
<br />2678.
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<br />2. RECORDED CONSTRUCTION LIENS. CONTRACT LIENS AND JUDGMENTS:
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<br />NONE
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