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2018-111
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Last modified
12/30/2020 12:08:29 PM
Creation date
6/18/2018 5:00:54 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
06/12/2018
Control Number
2018-111
Agenda Item Number
12.A.1.
Entity Name
Redevgroup, Inc.
Subject
Agreement to Release a Conservation Easement at the Indian River Mall (Lot 5)
Exchange for Conveyance of Title of Conservation Land at an Alternate Site
Area
The Alice Siew Property or The Kinner Property
Document Relationships
2018-254
(Cover Page)
Path:
\Official Documents\2010's\2018
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NOW, THEREFORE, for in consideration of the mutual promises and covenants <br />contained herein, the sufficiency of which is hereby acknowledged, County and Developer <br />hereby agree as follows: <br />1. The foregoing recitals are incorporated as if fully restated herein. <br />2. On or before December 20, 2018, Developer shall cause to be conveyed to the <br />County title to one of the following described properties; free and clear of all <br />liens, save property taxes and assessments which are not due: <br />Property 1: "The Alice Siew Property", See Exhibit "A", attached hereto <br />and made a part hereof <br />Property 2: "The Kinner Property", See Exhibit "B", attached and made a <br />part hereof, together with $291,819.00. <br />Developer shall pay documentary stamps on the conveyance, and property <br />taxes shall be pro -rated to the date of closing. County may elect to purchase <br />title insurance at its own cost and expense. <br />3. Simultaneously with delivery of title of one of the above-described properties <br />by Developer, County shall release Lot 5 from the Development Order and <br />from the Conservation Easement, by execution of a document which shall be <br />recorded in the Public Records of Indian River County, Florida. <br />4. Also simultaneously, Developer shall record a Declaration of Restrictive <br />Covenants which will restrict the development of Lot 5 with the following <br />standards: <br />a. The combined pervious and storm water areas are not to be less <br />than 44% of the total property area. No building or pavement <br />shall be constructed within the southern most 75' of property <br />(this area shall be used for landscaping, water retention and <br />signage). <br />b. A minimum of six (6) specimen trees shall be preserved. <br />c. No single building footprint shall exceed 7,200 square feet, and <br />onsite buildings shall be separated by a minimum of 50 feet. <br />d. State Road 60 criteria, parking, setbacks and buffers shall <br />apply per code. <br />5. Attached hereto as Exhibit "C" is an example of a site plan which complies <br />with the covenants described above. <br />2 <br />RedevGroup/IRC Agreement <br />
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