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<br />.... <br /> <br />" <br /> <br />(2) Dedication. The City hereby dedicates in Perpetuity, the Property, legally described <br />above and located at 500 Sunny Isles Boulevard, Florida, as a Public Park and Marina <br />for recreation purposes and for the use and benefit of the publ ic. <br /> <br />(3) Limitation of Use. The Property indentified in Exhibit "A" has been acquired for <br />development by the City with <br />financial assistance provided by the Florida Department of Environmental Protection <br />("DEP") in accordance with the Project Agreement. Pursuant to DEP's rules, land <br />already owned and then developed, or land acquired by the project sponsor with grant <br />assistance, shall be dedicated in perpetuity as an outdoor recreation area for the use <br />and benefit of the general public. Leased land developed by the project sponsor with <br />program assistance shall be dedicated as an outdoor recreation area for the general <br />public for a minimum of twenty-five (25) years after completion of development. If <br />the City should convert any part of the property, whether acquired or developed with <br />grant assistance, to other than DEP approved recreational uses, the City shall replace <br />the property at its own expense with a DEP approved property of comparable or <br />greater size and quality. In lieu of such replacement, DEP may require return of grant <br />funds disbursed to the project sponsor. Grant funds shall be refunded with interest, <br />calculated at two percent (2%) over the prevailing prime rate as reported by the <br />Federal Reserve. <br /> <br />(4) Covenant Running-With-The-Land. This Declaration on the part of the City shall <br />constitute a Covenant-Running-With-The-Land and shall be recorded in the Public <br />Records of Miami-Dade County. Plorida and shall remain in full force and effect and <br />be binding upon the Owner, and its successors and/or assigns until such time as the <br />same is modified or released pursuant to the terms hereof. These restrictions shall <br />inure to the benefit of, and limitation upon, all present and future owners of the real <br />property and for the public welfare. <br /> <br />(5) Term. This Declaration shall be in perpetuity and shall be binding on all parties and <br />all persons claiming under it unless the Project Grant Agreement is terminated or <br />modified by either party. <br /> <br />(6) Modification. Amendment, Release. In the event the Project Grant Agreement <br />requires that this Declaration be modified, then, and only in that event, may this <br />Declaration be modified, amended or released as to the land herein described. Should <br />this Declaration be so modified, amended or released pursuant to the Project Grant <br />Agreement, the City agrees to comply with the Project Agreement. <br /> <br />(7) Enforcement. Enforcement shall be by action against any parties or person violating, <br />or attempting to violate, any provision of this Declaration. This Declaration is not <br />intended and should not be construed to confer any rights on any third parties other <br />than the City and DEP. The prevailing party in any action or suit pertaining to, or <br />arising out of this Declaration. shall be entitled to recover, in addition to costs and <br />disbursements allowed by law, such sum as the Court may adjudge to be reasonable <br /> <br />:2 <br />