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HomeMy WebLinkAboutExhibit-Declaration of Restrictive CovenantsThis instrument prepared by, and after recording return to: (Socce rPSPryed for (--Jerk of court) Name: Iris Escarrd, Esq. Address: Greenberg Traurig, P.A. 1221 Brickell Avenue Miami, Florida 33131-3261 DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION OF RESTRICTIVE COVENANTS (the "Declaration"), made this day of , 2010, by The Village Miami, Ltd. (the "Owner"), in favor of the City of Miami, a Florida Municipal Corporation (the ''City"). WITNESSETH: WHEREAS, the Owner holds fee -simple Title to certain property in the City of Miami, Florida, located at approximately 6886 NW 7 Avenue a/k/a 755 NW 67 Street and 890 NW 69 Street, Miami, Florida, legally described in Exhibit "A" attached hereto and made a part hereof (the "Property"); and WHEREAS, an approval was obtained for a zoning change for the Property from the City Commission of the City of Miami, pursuant to Ordinance No. adopted on January 28, 2010 and attached hereto and made a part hereof as Exhibit "B"; and WHEREAS, if is the Owner's intent to develop .the property for affordable multifamily housing as that term defined by applicable Federal , State and Local laws and regulations, including without limitation, CDBG Block grants, Home 1 t cjaratio►n O� gestri:cl ve Cono! ►YuYA M- 0i0Mzc Dkbl Investment Partnerships, , the Florida State Housing Initiatives Partnership ("SHIP") and the Affordable Housing Trust Fund , . NOW, THEREFORE, the Owner voluntarily covenants and agrees that the Property shall be subject to the following restrictions that are intended and shall be deemed to be covenants running with the land and binding upon the Owner of the Property, its successors in interest and assigns, as follows: 1. Recitals. The recitals and findings set forth in the preamble of this Declaration are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. 2. Height and Density. The Property will be improved with several multifamily residential buildings. No building shall exceed 120 feet in height, and the total number of residential units shall be limited to 65 units per acre (R-3 Medium Multi -family equivalent in Zoning Ordinance 11000). Should the existing Property be re -developed for use other than an affordable multifamily residential development, any re -development plans will be limited to the height and total units proposed above, and the plans will be subject to review and approval of the City Manager or the Manager's authorized designee. 3. Effective Date. This instrument shall constitute a covenant running with the title to the Property and be binding upon Owner, its successors and assigns upon recordation in the Public Records of Miami -Dade County, Florida. oil These restrictions shall be for the benefit of, and a limitation upon, all present and future owners of the Property and for the public welfare. 4. Term of Covenant. This voluntary covenant on the part of the Owner shall remain in full force and effect and shall be binding upon the Owner of the Property, its successors in interest and assigns for an initial period of thirty (30) years from the date this instrument is recorded in the public records and shall be automatically extended for successive periods of ten (10) years, unless modified, amended or released prior to the expiration thereof. S. Inspection and Enforcement. It is understood and agreed that any. official inspector of the City of Miami may have the right at any time during normal working hours to enter upon the Property for the purpose of investigating the use of the Property, and for determining whether the conditions of this Declaration and the requirements of the City's building and zoning regulations are being complied with. An action to enforce the terms and conditions of this Declaration may be brought by the City and may be by action at law or in equity against any party or person violating or attempting to violate any covenants of this Declaration or provisions of the building and zoning regulations, either to restrain violations or to recover damages. This enforcement provision shall be in addition to any other remedies available under the law. 3 6. Amendment and Modification. This instrument may be modified, amended or released as to any portion of the Property by a written instrument executed by the owner(s) of the fee -simple title to the Property to be effected by such amendment, modification, or release and the City of Miami with the approval by the City of Miami City Commission at a public hearing, which public hearing shall be applied for by, and be at the expense of the Owner. Any modification, amendment, or release of this covenant will be subject to the approval as to legal form by the City Attorney. 7. Severability. Invalidation of any one of these covenants by judgment of Court shall not affect any of the other provisions of this Declaration, which shall remain in full force and effect. 8. Recording. This Declaration shall be filed of record among the Public Records of Miami -Dade County, Florida, at the cost of the Owner. The Owner shall submit a recorded copy to the City Clerk at 3500 Pan American Drive, Miami, FI. 33133 , with a copy to the City Zoning Administrator , at 444 SW 2nd Av. , 4th FI. , Miami, FL. 33130, within thirty(30) days of recordation. 0 ACKNOWLEDGMENT CORPORATION Signed, witnessed, executed and acknowledged on this day of 2010. IN WITNESS WHEREOF, signed in its name by its proper officials. Witnesses: Signature Print Name Signature Print Name STATE OF FLORIDA COUNTY OF MIAMI-DADE has caused these presents to be The Village Miami Ltd. 555 NE 15'" Street, Suite 213 Miami, Florida 33132 MANAGING GENERAL PARTNER The foregoing instrument was acknowledged before me by the manager of , a corporation, on behalf of the corporal -ion. He is personally known to me or has produced Florida Driver's licence: , as identification. Witness my signature and official seal this day of , 2010, in the County and State aforesaid. My Commission Expires: 5 Notary Public -State of FLORIDA CONSENT OF MORTGAGEE AND SUBORDINATION OF MORTGAGE The undersigned, holder of that certain Mortgage Deed dated l and recorded in Official Records Book at Page _, of the Public Records of Miami -Dade County, Florida, as amended, encumbering the real property to be subjected to the foregoing Declaration of Restrictive Covenants made by , in favor of the City of Miami, Florida, hereby consents to said Declaration of Restrictive Covenants and agrees that the lien of said Mortgage Deed shall be subject and subordinate to the terms of said Declaration of Restrictive Covenants. IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of , 2010. Witnessed by: in Name: Name: STATE OF FLORIDA ) ss: COUNTY OF MIAMI-DADE ) (Corporate Seal) The foregoing instrument was acknowledged before me this _ day of 2010 by as of , on behalf of said company. He before me, is personally known to me or produced My commission expires: MIA 181,014,316v2 1-20-10 0 personally appeared as identification. Name: Notary Public, State of Florida Commission No.