HomeMy WebLinkAbout2015-135Prepared by, record and return to:
Office of the County Attorney
1801 27th St., Vero Beach, FL 32960
Telephone: 772.226.1424
3120150056523
RECORDED IN THE PUBLIC RECORDS OF
JEFFREY R SMITH, CLERK OF COURT
INDIAN RIVER COUNTY FL
BK. 2878 PG: 477 Page 1 of 3 9/18/2015 1 08 PM
THIRD AMENDMENT TO COLLATERAL DEVELOPMENT
AGREEMENT TERMINATING CERTAIN USE RESTRICTIONS SET
FORTH IN THE COLLATERAL DEVELOPMENT AGREEMENT AND
TERMINATING THE SECOND AMENDMENT TO COLLATERAL
DEVELOPMENT AGREEMENT WITH RESPECT TO CITY PROPERTY
THIS THIRD AMENDMENT TO COLLATERAL DEVELOPMENT AGREEMENT
"Third Amendment to Collateral Development Agreement") is entered into as of the:1-/-day of
, - 015 by and between Indian River County, a political subdivision of the State of Florida
`CSC. ty") and the City of Vero Beach, a municipal corporation organized under the laws of the
State of Florida ("City").
WHEREAS, on November 17, 2005, the City purchased 37+/- acres of real property commonly
known as the former Dodgertown nine -hole golf course (hereinafter "City Property"); and
WHEREAS, on November 17, 2005, the City, Los Angeles Dodgers, LLC (hereinafter
"Dodgers") and DT Commons, LLC (hereinafter "DT Commons") executed that certain Second
Amendment to the Collateral Development Agreement, recorded on November 17, 2005, which
provided in paragraph 3 that the City shall develop the City Property solely as (i) a municipally -
owned public golf course, or (ii) green space, or (iii) park -like setting, or (iv) any combination of
the foregoing three uses (hereinafter "Use Restrictions"); and
WHEREAS, pursuant to said Second Amendment to the Collateral Development Agreement,
the City was not to develop and/or permit the use of the City Property for any other use or
purpose whatsoever without the prior written consent of both the Dodgers and the County, which
consent could be granted or denied by either the Dodgers or the County in the exercise of their
respective sole and absolute discretion; and
WHEREAS, on November 17, 2005, the City and the Dodgers executed that certain Declaration
of Covenants, Conditions, and Restrictions, recorded on November 17, 2005, limiting the City's
use of the City Property to the Use Restrictions as stated in the Second Amendment to the
Collateral Development Agreement; and
WHEREAS, in February 2008, the County succeeded to all interests of the Dodgers in said
Second Amendment to the Collateral Development Agreement and Declaration of Covenants,
Conditions, and Restrictions, as outlined in Article 3 of the Third Amendment to Facility Lease
Agreement dated February 19, 2008, and recorded on March 17, 2008, leaving the County and
the City as the sole parties in interest with respect to the documents as they relate to the City
Property; and
WHEREAS, on June 1, 2011, the County and the City completed an exchange of certain parcels
of land included in the original Collateral Development Agreement, dated and recorded on
FMrwrnryNlanlDndgeno n Doxuman4lThlydAnte nAnem to Cdlmeiv/Development Agreemen.dva
Page 1 of 3
August 29, 2001, in order for the County to develop a cloverleaf ball field on a 11.93 acre parcel
(hereinafter "Cloverleaf Property"); and
WHEREAS, on May 3, 2011, in light of the Use Restrictions in paragraph 3 of the Second
Amendment to Collateral Development Agreement and the County's reserved right of consent
provided therein to allow other uses, the County's Board of County Commissioners (hereinafter
"Board") adopted Resolution 2011-34, recorded on August 11, 2011, whereby the County gave
its written consent to allow the Cloverleaf Property to be developed by the County into (i)
baseball fields, or (ii) any purpose consistent with the purposes of the baseball facilities as
defined in the 2001 Collateral Development Agreement; and
WHEREAS, on June 1, 2011, the County and the City executed the First Amendment to
Declaration of Covenants, Conditions, and Restrictions, recorded on August 11, 2011, to remove
the Use Restrictions on the Cloverleaf Property and transfer such Use Restrictions to the 10.38
acre parcel the City received in that parcel exchange; and
WHEREAS, the City and the County entered into that Interlocal Agreement, recorded on April
21, 2015 and effective as of May 18, 2015, in which the County agreed inter alio to amend or
otherwise modify the Second Amendment to the Collateral Development Agreement and to
eliminate the Use Restrictions on the City Property; and
WHEREAS, in addition to releasing the City Property from the Use Restrictions set forth in the
Second Amendment to the Collateral Development Agreement, the City and the County wish to
release the City Property from various other use restrictions set forth in the Collateral
Development Agreement, entered into on August 29, 2001, and recorded on August 29, 2001, at
Book 1426, Page 596 of the public records of Indian River County, Florida,
WHEREAS, City and County now desire to enter into this Third Amendment to Collateral
Development Agreement,
NOW THEREFORE, in consideration of the mutual undertakings herein and other good and
valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties
agree, as follows:
1. Recitals. The above recitals are true and correct and are incorporated herein.
2. Termination of the Second Amendment to Collateral Development Agreement as to
the City Property. The Second Amendment to Collateral Development Agreement,
entered into on November 17, 2005, and recorded on November 17, 2005, at Book 1961,
Page 985 of the public records of Indian River County, Florida is hereby terminated and
declared to be of no further force or effect as to the City Property.
3. Termination of Collateral Development Agreement as to City Property. The
provisions of Section 1(B) (Master Plan), Section 1(C) (Hotel), Section 2 (Architectural
Review and Approval), Section 4 (Regulations of Operation and Uses) and Section 5
(Cooperation Between Dodgers and Developer; New Player Housing) of the Collateral
Development Agreement, entered into on August 29, 2001, and recorded on August 29,
P•UnomryUleonDodgexo,.n DocunewlThledAmendnrnt to Collateral Development Ag,eenetidoa
Page 2 of 3
2001, at Book 1426, Page 596 of the public records of Indian River County, Florida, are
hereby terminated and declared to be of no further force or effect as to the City Property.
4. Recordation. A copy of this Third Amendment to Collateral Development Agreement
shall be recorded in the public records of Indian River County, Florida.
IN WITNESS WHEREOF, the parties have caused this Third Amendment to Coll_
Development Agreement to be executed in their respective names as of the date set forthve
:v.
Attest: Jeffrey R. S • ith, Clerk of Court
By:
C ll
ompYJ: —,10K ,./Aer
tro /
Deputy 1
Approved:
By:
Ap
aird, ounty Adminis ator
ved as to form and legal sufficiency:
By:
an Reingold, County Attorney
Approv
By:
ing to municipal policy:
es R. O'Connor, City Manager
Approve as to form and le _ al sufficiency:
By.
Wayn Coment, City Attorney
F Um>rnryUlmnlDodgennun Dxu.u,,u TAird Aynenanent m Callmeral Derrlopment Agrermrndocr
INDIAN RIVER COUNTY, FLO:
Wesley S. Davis, Chairman ‘..1:"1:1• ...K€(:'"
BCC approved: TU- (j / L .2.0 1.5
Council approved: \,< L1 L l) Zo i
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