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Firefox https: //ori . indian-river. org///Document/GetDocumentF orPrintPNG/?req... ]IN: 3551ST PG: 4 919 WHEREAS, the pariies desinei to enter into itis Agneemein9 rielailing Ila the ariney0lion of the Real Rroperly in order to achieve tll a Develorlmerl of the Real Rropedy perrr iited under Ari isle III of this Agreement aric all in the pnomotion of tf a public heallll-, safely, welilane, economic order, aric aeisthetics ail if ei City; aric WHERSAISI, this Agreement has been faL rid tlo be consistent -With 9fe City's ComprehensNa Klan and amendments Kleriding adaption theneto; and WHEREASI, on Fetkaryl08, 2023, firer Cliiy Council of the City of Eebasllian adoplied Crcinanae No. C- 33-07 approving this Agneemerl and dineating Ilf a CIily Managers 110 e)eocte 9fis Agreement as pnovic ed in Section 3.04(g) oil 9f a Cl` arien of the Ci9y of Set astiari; and WHEREAS, it is the intent allfa parties heneto Ila ❑e�elop 9f ei Renal Flnoperiy based on 9f a ienms cd ilf i;i Agreement; and WHEREAS, all parties tureio fa�ei, without cL ress, %oluntarily entered into itis Agreemerit. NICW, THEREFORE, in consideration of 11EN and 00/900 Dollars 11$10.00' and audairi o#er valuable consiceralions, eacif Ila 111 other paid in hand, the sufilicienay and receipt all of wfich be aric the same is heneiby aaknowledgec , ilf ei Kladies desining to be legally t ound henet y agnee as follows: ARIIICLS I RECIIIIAILS; I]BFINIMONSI Sectio ri 1.1. Recitals; Arc perties SIL biect to Agreemient. The Real Rropert y shall be helc , transferred, soic, conveyed, accuplied, annexed, and Elevelopec scbjec9 to chis Agreement. Eact aric all of the foregoing recitals (the "WHBREAE" alauses above,' are hereby declared to be true aric correct aric are incianporaleid f erein. Section 1.51. Detiniticns. In itis Agreement, unless ilfe context otherwise indiciaies, the terms set farlh below ane defirleic as follows: (a) "Af1londat le Housing" as definec by the Fec eiral 17epart merl oil Housing and Urban ❑ffielopmerit (HUO) and Charlien 420, Florida StOlOes, means that monifly rents or monthly mortgage Klayrreriis irialuding 1a)eis, inscnarlce, and Utilities co not exceec 30 panaerl al the amocril wfich neFpieserls the percentage of the mac ian adjL sted gross annual inciarrei for the hog sef olds. (1b) "Agnsumarl" meads and nellens to this AnrIEDaiion Agreement and as the same may be am endec from tim a I 9 irr ei. (c; "City" means aric refers to 1f ei City of E ebastian, a Illorida Municipal Corponalian. 11c; "Commercial Use" meads Re portions of the Real Rropedy irilarlded is be Developed with professional Officia or netail Clommemaial Develapmuml as Fpia%ided in the Laric Develorlmerl COcel. There may be one on mone Clorrrrencial RarcellS whiaf are pnedorrinantly connected Wit ilfei sale, rental and distribution of produce, or performance of services. (e) "Compatibility" on "Clarrpaiible" is definec as the afaracienistics of difllerent Lees or aciKities or design which allow them 90 be laaaled near on adjacent Ila each other. Eorre elements affeating aorrpaiitility inalcde the following: height; scale; mass aric bulli al strtciunes; pedesirian or vehiaclar llnafflic, ciinaLlalion, aaciess and panking irrKiacls; landscaping; lighlling; noise; acor; anc anchiiectural style. Seitastiam Arinexatiari 1 ELP cit Rinal C L EP N OZ108A2023 3 40 of 60 2/17/2023, 4:34 PM