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BK : 1961 PG : 998
<br /> Adjacent Land (as defined in the Collateral Development Agreement) consisting of approximately 6 . 1328 acres,
<br /> as more particularly described in Exhibit "A, " attached hereto and made a part hereof ("Parcel IA ") ; and
<br /> WHEREAS , pursuant to that certain Special Warranty Deed from DVLLLP, dated on or about the date
<br /> hereof, and which has been recorded in the Public Records of Indian River County, Florida prior to the recording
<br /> of this Declaration, the City is the fee simple owner of that certain portion of the Adjacent Land consisting of
<br /> approximately 30. 8662 acres, as more particularly described in Exhibit "B , " attached hereto and made a part
<br /> hereof (" Parcel 3A") ; and
<br /> WHEREAS, for purposes of this Declaration , Parcel IA and Parcel 3A are collectively referred to as
<br /> the " City Property " ; and
<br /> WHEREAS , by virtue of taking title to the City Property, the City has succeeded to the interest of the
<br /> Developer under the Collateral Development Agreement with respect to the City Property ; and
<br /> WHEREAS , pursuant to that certain Second Amendment to Collateral Development Agreement dated on
<br /> or about the date hereof, and which has been recorded in the Public Records of Indian River County, Florida prior
<br /> to the recording of this Declaration, between the Dodgers, the City, and DT Commons, LLC (the owner of a
<br /> portion of the Adjacent Land), which Second Amendment to Collateral Development Agreement was consented
<br /> to by the County, the Collateral Development Agreement was amended, inter alia, in order for the City to develop
<br /> the City Property uses other than as required by the Collateral Development Agreement, specifically, solely as
<br /> (i) a municipally-owned, public golf course, or (ii) green space, or (iii) a park-like setting or (iv) any combination
<br /> of the foregoing three uses (the " Permitted Use") (the Collateral Development Agreement, the First Amendment
<br /> to Collateral Development Agreement, and the Second Amendment to Collateral Development Agreement are
<br /> hereinafter collectively referred to as the "Collateral Development Agreement") ; and
<br /> WHEREAS, the Second Amendment to Collateral Development Agreement provides that the restriction
<br /> on the development of the City Property solely for the Permitted Use shall be included in a separate declaration of
<br /> covenants, conditions, and restrictions to be recorded in the Public Records of Indian River County, Florida, and
<br /> which is contained in this Declaration.
<br /> NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and
<br /> valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as
<br /> follows :
<br /> 1 . Incorporation of Recitals . The above recitals are true and correct and are incorporated herein as if
<br /> set forth in full .
<br /> 2 . Definitions . All capitalized terms not otherwise defined herein shall have the meanings set forth
<br /> in the Collateral Development Agreement.
<br /> 3 . The City's Permitted Use, The City, at its sole cost and expense, shall develop the City Property
<br /> solely for the Permitted Use . The City shall not develop and/or permit the use of the City Property for any other
<br /> use or purpose whatsoever without the prior written consent of both the Dodgers and the County, which consent
<br /> may be granted or denied by either the Dodgers or the County in the exercise of their respective sole and absolute
<br /> discretion .
<br /> 4 . Duration. This Declaration shall run with and bind the City Property, and shall inure to the
<br /> benefit of the parties hereto, and their respective successors and assigns, for a term of forty (40) years from the
<br /> date this Declaration is recorded, unless an instrument terminating this Declaration has been executed by the
<br /> {FT288939;31 -2-
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