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<br />beautification of Collins Avenue. The City shall determine, in its sole discretion, the schedule for <br />this landscape activity, but in no event to exceed five (5) years from the date hereof In the event <br />the City does not proceed with this project within said time-frame, the City shall return the sum <br />volunteered hereunder to the Owner. <br /> <br />5. Public Access. The Owner agrees to provide public access to the beach <br />substantially in accordance with the Approved Plans. <br /> <br />6. Unit Configuration. Owner agrees that prior to the issuance of any building permit <br />for the noted project, Owner agrees to restrict any request for building permits so as to not <br />exceed 265 equivaIent residential units for the entire site and structures thereon. This distn'bution <br />may be accomplished, in the Owner's sole discretion, with the unit mix to be calculated as 1 <br />condominium unit being equivaIent to 1 equivaIent residential unit; 1 apartment/hotel unit being <br />equal to .667 equivaIent residential units; and 1 "lock out" door in any apartment hotel unit being <br />equaI to .33 equivaIent residential units. A "lock out" door means a door that provides direct <br />egress from a bedroom into a common corridor which is part of the means of egress from the <br />building. <br /> <br />7. Covenant Running with the Land. These restrictions during their lifetime shall be <br />for the benefit of: and limitation upon, all present and figure owner( s) of the real property and for <br />the public welfare. This Declaration, on the part of the Owner, shall constitute a covenant <br />running with the land and may be recorded in the public records of Dade County, Florida, and <br />shall remain in full force and effect and be binding upon the undersigned, and their heirs, <br />successors and assigns until such time as the same is modified or released, pursuant to the terms <br />hereof <br /> <br />8. Use. The Owner agrees that all units in the apartment/hotel building will be <br />available for renta~ and no more than 5% of the individual hotel units shall be occupied for more <br />than six months. <br /> <br />9. Term. This Declaration shall be binding on all parties and all persons claiming <br />under them for a period of thirty (30) years from the date this Declaration is recorded, after which <br />time it shall be extended automatically for successive periods of ten (10) years each, unless an <br />instrument signed by the then Owner(s) of more than fifty (50%) percent of the subject real <br />property, or more than fifty (50%) percent of the unit owners or the Condominium Association <br />has been recorded agreeing to change the Declaration in whole, or in part, provided that the <br />Declaration has first been modified or released by the City of Sunny Isles Beach. <br /> <br />10. Modification. Amendment and Release. This Declaration may be modified, <br />amended or released as to the land herein described, or any portion thereof: by a written <br />instrument executed by the then Owner(s) of more than fifty (50%) percent of the subject real <br />property, or more than fifty (50%) percent of the unit owners or the Condominium Association <br />petitioning for such modification, amendment, or release, provided that the same is aIso approved <br />by the City Commission after public hearing. The ApprovaI Plans which are the subject of this <br />Declaration may be modified without such petition or approval as long as such changes are <br /> <br />2 <br />