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<br />TtIia instrument... pcepared by:
<br />NIIme: ~ G. 00ldItIln. Esq.
<br />AcldresI: GnlInbeIg, TIUIg. PA
<br />1221 Blic:kd Awnue
<br />Miami. Florida 33131
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<br />~u'tal4~ 915
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<br />,981:::'590295 1998 DE 10 1;":'53
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<br />(Space resenred for CleriI)
<br />
<br />DECLARATION OF RESTRICTIVE COVENANTS
<br />
<br />KNOW ALL MEN BY THESE PRESENTS that the undersigned, Williams Island Ocean
<br />Club. Inc.. a Dela\\"81'e corporation. being the O"ller of the following described property. lying,
<br />being and situated in Miami-Dade County, Florida. to-\\,t (the "Property"):
<br />
<br />See Exhibit A attached hereto
<br />
<br />In order to assure the City CommisSion of Sunny Isles Beach. Florida (the "City") that the
<br />representation made to them by the Owner in connection with Application No. Z-98-0009 (the
<br />"Application") will be abided by, freely. voluntarily and \\ithout dUress, make the follo\\ing
<br />Declaration of Restrictive Covenants ("Declaration") covering and running with the Prorerty:
<br />
<br />1. llflder~lou..J4. Utilities. On or before six (6) months following tennination of the
<br />moratorium u~ ;.:i, ()S~ by City Ordinance 98-40, as may be extended by the City, Owner agrees
<br />to fund, to th.. ~it).. in amount and in the manner hereinafter set forth, the reinstallation of public
<br />utility lines in the public right-of-way along the east side of the Collins Avenue frontage of the
<br />Property (the "Reinstallation"'). In order to fund O\\ner's Pro-rata o;;hare of the Reinstallation
<br />costs, the Owne~ shall provide the City with either a bOnd or letter 0,' ::;-edit or Place in escrow
<br />\\ith the City such amoUnt,which is equal to the pro~rata share of the cost of the Reinstallation to,
<br />the City based on the length of the frontage of the Property in relation to the cost of reinstallation
<br />of the public utility lines along Collins Avenue \\ithin the City (based on an initial estimate by the
<br />City of $375 per lineal foot of frontage on Collins Avenue mult:/'ed by 402 Iin~ feet of
<br />frontage on Collins Avenue"by the Property; hereinafter the "Pro-rata Share"). Notwithstanding
<br />anything herein to the contrary, in no event shall the Pro-rata Share of the Reinstallation costs or
<br />obligations hereunder exceed $150.750.00. The funds aridJor security provided by Owner shall be
<br />earmarked and segregated by the City to be applied solely for the purpose of converting utility
<br />lines on Collins Avenue to underground facilities. The City shall detennine, in its sole discretion,
<br />the schedule for commencement oftbe Reinstallation, not to exceed five (5) years from the date of
<br />ex~ution of this instrument (the "Time Frame"). In the event the City does not proceed with the
<br />Reinstallation within the Time Frame and thereafter diligently pursue completion of same and
<br />provided that owner has funded the Pro-rata Share, the City shall return the Pro-rata Share or
<br />release the bond or letter of credit volunteered hereunder to the Owner.
<br />
<br />2. Access Easement Aloml North Prooert\' Line. The City shall not be obligated to
<br />issue a ~ificate of occupancy for the use of the Property in accordance with the Application,
<br />until such time as Owner agrees to provide the City with an instrument that grants to the City a
<br />ten (10) foot wide easement for pedestrlanand vehicular access to and from Collins
<br />A venue arid the public beach for the benefit of the City generally along the north PrQperty line
<br />(the ~Easement"). Prior to the issuance of a certificate of occupancy for the use of the Property.
<br />the Owner shall allow reasonable public access through the Easement provided that such access
<br />does not interfere With the renovation. reconstruction or improvements to the Property. The
<br />Owner, at its discretion, shall have the right to relocate the Easement at any time (and from time
<br />to time). so long as, at all times, the City is provided with a I 0 foot \\ide area for ingress and -vV}
<br />
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