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<br />~~t 1 8398 PG 3768
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<br />AGREEMENT
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<br />98R613355 1998 DEe 21 07:J~
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<br />nnSAGREEMENT is made and entered into as of the X. day orOclk1998,
<br />byand betWeen D.P. COLONIAL, LLC, a Florida limited liability company ("Colonial") and
<br />THE CITY OF SUNNY ISLES BEACH, a Florida municipal corporation (the "City").
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<br />R E C I TAL S:
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<br />.A '.YIHEREAS, Culunial is the developer. of .a. certamapartment, apartmentlhotel,
<br />an""~t condo~ project to be located on. that certain property lying. and situate in Sunny Isles
<br />Be~~I1,M.ill~Q~~eCounty, Florida, andmoreparticuIarly descn'bed on Exhibit ''A'' attached
<br />he,l'~o (tlt~~'Projecr');
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<br />i.\ \!I.WHEREAS,in connection with the City's approval of the Project, Colonial has
<br />agiee4 t()gr~t au.cI create, and the City desires to obtain, . on the. terms and conditions hereinafter
<br />set fortb,' an Easement over and across a portion of the, property for the purposes hereinafter set
<br />forth;
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<br />rrOw, lHEREFORE, for Ten and No/IOO (SI0.00) Dollars and other good and valuable
<br />consideration, the..r~ceipt and sufficiency of which are hereby acknowledged, IIld with the intent
<br />to be legaIIy bound, Colonial and the City hereby agree as follows:
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<br />1.
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<br />Recitals. The foregoing recitals are true and correct and are incorporated herein by
<br />this reference.
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<br />,2.
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<br />Deliveiy of Easement. Providedthat the City issues to Colonial, its successors or
<br />asSiins, a Certificate of Occupancylies for the Project with a Floor Area Ratio of
<br />2.7, Colonial agrees to execute and deliver to the City ~e Beach Access Easement
<br />Agreement (the "Easement Agreement'') attached hereto as Exhibit "8" to anow non-
<br />exclusive pedestrian and official ingress and egress over a portion of the . property
<br />owned by Colonial, \Wich portion of property shaD be at least 45 feet wide, inclusive of
<br />a .12 'ea.~ent described in that City resolution approving the Project, an as more
<br />particularly set forth in the Beach Access EaV!m4lJnf Agreement.
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<br />In.the event, however, that Grantor does not request a certificate of occupancy lies
<br />for buildings or structures on the Property that are in excess of a 2.5 Floor Area
<br />Ratio, then this Agreement shan be of no further force and effect. In the event that
<br />Colonial seeks certificates of occupancy for buildings or structures on the Property
<br />that in excess ofa 2.5 floor'area ratio but less than a 2.7 floor area ratio. then die
<br />legal deScription of the, Beach Access Easement shall be modified to reduce the
<br />size of said easement area by a ratio of 1 square foot of easement area for each 2
<br />square feet offloor area ratio below 2.7, the location of such reduction in square
<br />footage to be mutually agreed upon by the parties.
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