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1562748 RECORDED IN THE RECORDS OF JEFFREY K BARTON, CLERK CIRCUIT COURT INDIAN <br />RIVER CO FL, BK: 1762 PG: 1148, 07/22/2004 02:47 PM <br />or <br />Prepared by and retum to: <br />Name: Bruce D. Barkett, Esquire <br />Address: Collins, Brown, Caldwell <br />Barkett & Garavaglia, Chartered <br />956 Beachland Boulevard <br />Vero Beach, FL 32963 <br />Tele: (772)231-4343 <br />DECLARATION OF RESTRICTIVE COVENANT <br />THIS DECLARATION OF RESTRICTIVE COVENANT by Waterfront <br />Development Of Sebastian, LLC a Florida Limited Liability Company, ("Owner"), in <br />favor of Indian River County, a political subdivision of the State of Florida, ("County"). <br />WITNESSETH•. <br />WHEREAS, Owner holds fee simple title to certain property in the County which <br />property is referred to as the Waterfront Development Property (the "Property") and <br />legally described as follows: <br />Lots 1, 2, 3, and the East 25 ft. of Lot 4, Block A, Ercildoune Heights No.1, <br />according to the plat thereof, as recorded in Plat Book 3, Page 74, Public Records <br />of Indian River County, Florida, together with that part of submerged lands <br />described in Official Records Book 210, Page 665, Public Records of Indian <br />River County, Florida, lying adjacent to said Lots 1-3 and the East 25 ft. of Lot 4, <br />Block A <br />and; <br />WHEREAS, the Waterfront Development Property is designated C/I <br />(Commercial/Industrial) on the County's Land Use Plan; and <br />WHEREAS, the Owner is presently the applicant before the County for rezoning <br />of the Property to OCR (Office Commercial Residential), which zoning is permitted <br />within the land use designation; and <br />WHEREAS, the Owner desires to make a binding commitment to assure that the <br />Property shall be developed in accordance with the provisions of this Declaration. <br />NOW, THEREFORE, in consideration of the foregoing, the Owner hereby agrees <br />and declares as follows: <br />