Resolution Zoning 98-Z- 24 - Laserfiche WebLink

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., .' , ~~t I 8398 PG 3768 AGREEMENT 98R61.3355 1998 DEe: 21 07:3-4 THIS AGREEMENT is made and entered into as of the ~ day ofO~ 1998, by and between D.P. COLONIAL, LLC, a Florida limited liability company ("Colonial") and THE CITY OF SUNNY ISLES BEACH, a Florida municipal corporation (the "City"). R E C I TAL S: A WHEREAS, Colonial is the developer of a certain apartment, apartment/hotel, and/or condominium project to be located on that certain property lying and situate in Sunny Isles Beach, Miami-Dade County, Florida, and more particularly described on Exln'bit "A" attached hereto (the "Project"); B. WHEREAS, in connection with the City's approval of the Project, Colonial has agreed to grant and create, and the City desires to obtain, on the terms and conditions hereinafter set forth, an Easement over and across a portion of the property for the purposes hereinafter set forth; NOW, THEREFORE, for Ten and No/100 ($10.00) Dollars and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and with the intent to be legally bound, Colonial and the City hereby agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by this reference. 2. Delivery of Easement. Provided that the City issues to Colonial, its successors or assigns, a Certificate of Occupancy/ies for the Project with a Floor Area Ratio of 2.7, Colonial agrees to execute and deliver to the City the Beach Access Easement Agreement (the "Easement Agreement") attached hereto as Exhibit "B" to allow non- exclusive pedestrian and official ingress and egress over a portion of the property owned by Colonial, which portion ofproperty shall be at least 45 feet wide, inclusive of a 12' easement descn'bed in that City resolution approving the Project, all as more particularly set forth in the Beach Access Easement Agreement. In the event, however, that Grantor does not request a certificate of occupancy/ies for buildings or structures on the Property that are in excess of a 2.5 Floor Area Ratio, then this Agreement shall be of no further force and effect. In the event that Colonial seeks certificates of occupancy for buildings or structures on the Property that in excess of a 2.5 floor area ratio but less than a 2.7 floor area ratio, then the legal description of the Beach Access Easement shall be modified to reduce the size of said easement area by a ratio of 1 square foot of easement area for each 2 square feet of floor area ratio below 2.7, the location of such reduction in square footage to be mutually agreed upon by the parties. ~,