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HomeMy WebLinkAboutDeclaration of CovenantsThis Instrument Prepared By and Return To: City of Miami City Attorney's Office 444 S.W. 2ND Avenue Miami, Florida 33130-1910 ATTACHMENT "C" DECLARATION OF RESTRICTIVE COVENANTS This Declaration of Restrictive Covenants (the "Covenant") made this day of , 2008 by , a Florida for -profit corporation (hereinafter referred to as "Property Owner."), is in favor of the City of Miami, a municipal corporation of the State of Florida (hereinafter referred to as the "City"). RECITALS WHEREAS, Property Owner holds title to certain property located in the City of Miami, _ Florida, as legally described on Exhibit "A" (the "Property"); and WHEREAS, of Property will be rehabilitated as part Project (the "Project"); and WHEREAS, the City and Property Owner have heretofore entered into the an agreement ("Agreement") which sets forth the terms and conditions pursuant to which the City provided Kidco Child Care, Inc. the sum of ($ 00) in Community Development Block Grant funds ("CDBG Funds") to carry out Public Facilities and Improvements activities as authorized by the City Commission through Resolution No. on for the completion of the Project; and WHEREAS, Property Owner desires to make a binding commitment to assure that the Property shall be improved in accordance. with the provisions of this Covenant; NOW THEREFORE, Property 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 Property Owner and its heirs, successors and assigns as follows: Section 1. The recitals and findings set forth in the preamble of this Covenant are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. Section 2. Use of Grant: The Grant shall be used exclusively for the construction costs associated with the exterior rehabilitation of the Property as more particularly described in Exhibit B attached hereto and made part hereof. Section 3. Term of Covenant: This Covenant shall remain in full force and effect and shall be binding upon Property Owner, its successors and assigns for a period of five (5) years conunencing on the date of final allocation of funds ("Covenant Period) for the Project. Property Owner isrequired to reimburse the City if the Property is sold during the Covenant Period. In addition, if the use of the property is changed during the Covenant Period to an activity not authorized under Title 24, Code of Federal Regulations, Section 570.207, or inherently religious on nature, the Property Owner is required to reimburse the City. Section 4. Property Owner is required to (a) reimburse the City of Miami 100% of the amount of the grant actually disbursed for this Project if the Property is sold during the Covenant Period or if the use changes during the Covenant Period and (b) pay the City of Miami an amount equal to the current market value of the Property, less any portion (on a prorated/percentage basis) of the value attributable to expenditures of non-CDBG funds for the acquisition of, or improvement to the Property, if the Property is sold during the Covenant Period. If the Property is sold after the Covenant Period, there will be no requirement for reimbursement of funds or payment relating to the market value of the Property. Section 5. Except as provided in the Agreement, Property Owner. covenants and agrees not to encumber or convey any interest in the Project or the Property without prior written consent as required by the Agreement. For the purposes of this Covenant, any change in the ownership or control of the Property shall be deemed a conveyance of an interest in the Project. Section 6. Property Owner covenants and agrees that in the event (i) of a conveyance of any interest in the Project or the Property without the City's prior written consent, or, (ii) that the Property ceases to exist as a business, the Property Owner shall be required to reimburse the City completely. If the Property is sold after the term of the covenant, there will be no requirement for reimbursement of funds. Section 7. Inspection and Enforcement: It is understood and agreed that any official inspector of the City shall have the right any time during normal working hours to enter and investigate the use of the Project to determine whether the conditions of this Covenant are being complied with. Section 8. Amendment and Modification: This Covenant may be modified, amended or released as to any portion of the Project by a written instrument executed on behalf of the City and by the then owner of the fee simple title to the land to be affected by such modification, amendment or release. Should this instrument be modified, amended or released, the City Manager shall execute a written instrument in recordable form to be recorded in the Public Records of Miami -Dade County, Florida, effectuating and acknowledging such modification, amendment, or release. -2- Section 9. Severability: Invalidation of one of the provisions of this Covenant by judgment of Court shall not affect any of the other provisions of the Covenant, which shall remain in full force and effect. Section 10. Recordation: This Covenant shall be filed of record among the Public Records of Miami -Dade County, Florida, at the sole cost and expense of Property Owner. Section 11. This Covenant is a covenant running with the land. This Covenant shall lapse and be of no further force and effect upon the expiration of the Covenant Period. Section 12. All capitalized terms not defined herein shall have the meanings provided in the Agreement. -3- IN WITNESS WHEREOF, caused this Declaration of Restrictive Covenants to be executed by its duly authorized officers and the corporate seal to be affixed hereto on the day and year first above -written. ATTEST: Name Address Miami, FL ZIP 33138' a Florida for profit corporation By: Date: ACKNOWLEDGMENTS STATE OF FLORIDA ) ) SS: COUNTY OF MIAMI-DADE ) THE FOREGOING INSTRUMENT was acknowledged before me on this day of , 2008 by , as of , on behalf of who is personally known to me or who produced as identification and did/did not take an oath. My Commission Expires: Signature of Notary Public, State of Florida Printed Name of Notary Public -4- EXHIBIT A DECLARATION OF RESTRICTIVE COVENANT Legal Description of the Property INTENTIONALLY LEFT BLANK -5- EXHIBIT B INTENTIONALLY LEFT BLANK -6-