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Declaration of Restrictions aiud Grant of Easements Page d Public liability insurance on a comprehensive basis in an amount not less than One Million Dollars combined single limit and as aggregate of not less than Three Million Dollars for bodily injpry and property damage. The policy shall Net the City as an additional insured. The policy shall include Products Uabiility coverage if and when applicable. No modification, change, or canceUadou of fimmmea stall be made without thirty (30) days written adpance notice to the City Manager with a copy to the City Attuney. The Public Liability: Iusuraace coverage shall inalnde those algesications as listed in StmuW d LinbUity Insurance Manuals, which are applicable kft operations of Owner, its sueeossor and assigns inthe perk' »sane of Ibis DwImrstion. ,Ali insurance po&6 required above shalt be issued by companies authe4ized to do business under the laws of the State of Florida Such companies shall have a general policy holders' rating of "A" or better and a financial rating of not leas than "Class V" as reported by Best's Key Ratti}g Guide, pubiialwd by A,M, Bost Company, latest edition. Thu insurance shall be in effiet w long as the easement exists. Fail= to continue to provide the insurance coverage shall constitute a violation of the Declaration. Compliance with the foregaing requirements shall not relieve Ow=, its successors or assigns of its liability and obligations under this section or any other portion of this Declaration. The City reserves the right to reasonably amend the insurance requirements by the issuance of a notice in writing to Owner, its successors or assigns. 11. Q asaatRnnninewiththeLand. This Declaration on the part of the Owner shalt constitute a covenant running with the land and shall be recorded in the public records of Miami -Dade County, Florida and slla"II remain in fall force and effect and be binding upon the Owner, and its hairs, ouceeasors and assigns (including; without limitation, any ensuing eondomimmn association or operator of the Property) until each time as the same is modified or released. These restrictions, during their lifetime, shall be for the benefit of, *ad limitation upon, all present and future owners of the Pmperty. UmmVer, nothing contained in this Declaration shall create apublic dedication of all or any portion of the Property. 12. iga. This Declaration is to run with rile land and shall be bidding on all parties and all persons elaimbg under it for a period of thirty (30) years from the date this Declaration is recorded, after which time it shall be mrtended automatically for euccessive periods of ten (10) years each, unless an Watcument signed by a mgjbrity of they then, owners of the Property bas been recorded agreeing to change rho Declaration in whole, or is part, provided that the Declaration utas first been modified or relessed by the City. 13. ModiHmd* eudmeot. Rdatate The Easements granted m this Declaration sball be perpetual in duration; and shall not be changed, altered or amended except by instrument in writing executed -by the Owner or a majority of the then owners and the City .or their respective successors and assigns, provided that the same is also approved by the City. Commission after public hearing. Any ensuing operator or condominium association with valid 1732651167291*637403 v 17 S113f043:Lt PM Book223171Page2877 Page 4 of 16 Attachment B Page 21 of 33 Pages Sovereignty Submerged Lands Lease No. 130174356 500