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7. Valet Parking; Payment of Voluntary Mitigation Fee; Compliance with Conditions included in Resolution No. 04-Z-85. Owner shall provide 24-hour valet parking services for owners of the Property's condominium units and their guests. Owner shall pay to the City the voluntary mitigation fee of three hundred thousand dollars ($300,000.00)to be used for park purposes, as may be determined by the City Commission, prior to the issuance of the Building Permit for the Project. Owner shall comply with all conditions approved and included in City Resolution No.04-Z-85 as modified by Resolution 06-Z-100. 8. City Inspection. As further part of this Declaration, it is hereby understood and agreed that any official inspector of the City of Sunny Isles Beach Building and Zoning Department, or its agents duly authorized, may have the privilege at any time during normal working hours of entering and inspecting the use of the Property to determine whether or not the requirements of the building and zoning regulations and the conditions herein agreed to are being complied with. 9. Covenant Running with the Land. This Declaration on the part of the Owner shall constitute a covenant running with the land and shall be recorded in the public records of Miami-Dade County, Florida and shall remain in full force and effect and be binding upon the Owner, and its heirs, successors and assigns (including, without limitation, any ensuing condominium association or operator of the Property) until such time as the same is modified or released. These restrictions,during their lifetime, shall be for the benefit of, and limitation upon, all present and future owners of the Property. However, nothing contained in this Declaration shall create a public dedication of all or any portion of the Property. 10. Term. This Declaration is to run with the land and shall be binding on all parties and all persons claiming under it for a period of thirty (30)years from the date this Declaration is recorded, after which time it shall be extended automatically for successive periods of ten (10) years each unless an instrument signed by a majority of the, then, owners of the Property has been recorded agreeing to change, the Declaration in whole, or in part, provided that the Declaration has first been modified or released by the City in the manner set forth in this Declaration. 11. Modification,Amendment,Release. The Easements granted in this Declaration shall 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 and their respective successors and assigns, provided that the same is also approved by the City Commission after public hearing. Any ensuing operator or condominium or master owners' association with valid authority to act on behalf of the majority of the owners of the Property may execute the amending instrument upon submission of proof of authority to act on behalf of a majority of the owners. Should this Declaration be so modified, amended or released, the City Manager or such authorized designee shall forthwith execute a written instrument effectuating and acknowledging such modification,amendment or release. 12. Enforcement. Enforcement shall be by action against any parties or person violating, or attempting to violate, any covenants, terms or provisions of this Declaration. The prevailing party in any action or suit, pertaining to or arising out of this Declaration, shall be entitled to recover, in addition to costs and disbursements allowed by law, such sum as the Court 5 Paramount Declaration of Restrictions&Grant of Easement Book25500/Page2308 CFN#20070334642 Page 5 of 24