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RESOLUTION NO. 2014 -�.� 0 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, TERMINATING A RESTRICTIVE COVENANT FOR THE GOLDEN STRAND OCEAN VILLA AND RESORT RELATING TO BEACH ACCESS SUBJECT TO CERTAIN CONDITIONS, ATTACHED HERETO AS EXHIBIT "A "; PROVIDING THE CITY MANAGER AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the property located at 17901 Collins Avenue commonly known as the Golden Strand Ocean Villa & Resort ( "Golden Strand "), has been operating as a time -share condominium pursuant to a Restrictive Covenant; and WHEREAS, Golden Strand and its contract purchaser, GSF Acquisition, LLC are requesting a release of the public pedestrian access easement from Collins Avenue to the Atlantic Ocean Covenant ( "beach access "); and WHEREAS, the release of the beach access Restrictive Covenant will not negatively impact the proposed project to be constructed at the Golden Strand site; and WHEREAS, the City Commission wishes to approve the termination of the Restrictive Covenant running with the land subject to certain conditions. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Termination and Release of Restrictive Covenant. The public pedestrian access Restrictive Covenant attached hereto as Exhibit "A" is hereby terminated subject to the sale of the Golden Strand propery to GSF Acquisition, LLC. If the sale does not occur, this Resolution shall be null and void. Section 2. Authorization of City Manager and City Attorney. The City Manager and the City Attorney are hereby authorized to do all things necessary to effectuate this resolution. Section 3. Effective Date. This Resolution shall become effective upon adoption. Terminating Restrictive Covenant Running with the Land I of 2