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901-Preannexation/Kirchhoff,etc This Prearmexation Agreement is made this ~{;h day of Fcbc u~o,c~ ,2001, by and between the City of Sanford, a municipal corporation organized and existing under the laws of the State of Florida, (hereinafter referred to as the "City"), and William E. Kirchoff, Jr. Revocable Trust, Airport Industrial Parmers, LLC, Strategic Acquisitions Corporation, (hereinafter referred to as "Developer"). WITNESSETH: WHEREAS, Developer is the owner of certain real property (hereinafter referred to as the "Property") described as follows: Lots 19, 20, 21, 22, 23, 27, 28, 29, 30, 31, 32, 41, 43, and 44 all Sanford Celery Delta, according to the plat thereof, as recorded in Plat Book 1, Page 75 & 76, Public Records of Seminole County, Florida. (The aforesaid legal description has been provided to the City of Sanford by the owner(s) of the afore described property) WHEREAS, Developer has caused a petition for annexation to be filed to annex the property into the City; and WHEREAS, Developer has requested that the property retain its carrent Seminole County future land use designation of High Intensity Planned Development-Airport until the City revises its planning designations around the airport to be consistent with the County's designations; and WHEREAS, the City has determined that development of the property will be of substantial economic benefit to the City and its citizens; and WHEREAS, the City desires to insure that the development of the property and adjacent City land uses are compatible with surrounding land uses, that adequate public facilities exist concurrent with the impact with such development, that such development and the City's comprehensive plan are or will be consistent; and WHEREAS, the purpose of this agreement is to set forth the understanding and agreement of the parties with respect to the forgoing, and other matters set forth herein; NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein, and other good and valuable considerations each to the other provided, the parties agree as follows: 1. RECITALS. The foregoing recitals are true and correct and are incorporated into this agreement by this reference. Preannexation Agreement Page 1 OFFICIAL RECORDS ,Oh2 1812 SEMINOLE CO.,F 't 2. ANNEXATION. Developer shall annex the property into ~ae C~ y. 3. COMPREHENSIVE PLAN AMENDMENT. The property is currently designated under the Seminole County Comprehensive Plan as High Intensity Planned Development-Airport. Upon armexation of the property the City may in accordance with applicable law proceed to redesignate the property with reference to the City's comprehensive plan, so long as the uses authorized for the property under the new City land use designation are consistent with the uses available under the prior County land use designation. 4. DEANNEXATION. If the City for any reason is unable or refuses to carry out any of the terms covenants or conditions of this agreement, then Developer at its sole discretion shall be allowed to dearmex from the City in accordance with applicable law. 5. MODIFICATION. If state or federal laws are enacted after execution of this agreement which are applicable to and preclude the parties' compliance with the terms of this agreement, this agreement shall be modified or revoked as is necessary to comply with the relevant state or federal laws and the intent of the parties hereto; provided, however, the City agrees that it shall not modify this agreement in any manner which would in any way be inconsistent with the intent of the parties to provide for development of the property in accordance with the terms and conditions hereof. 6. SUCCESSORS AND ASSIGNS. This agreement and the terms and conditions hereof shall be binding upon and inure to the benefit of the City and Developer and their respective successors and interests. 7. TIME OF ESSENCE. Time is of the essence in the lawful performance of the duties and obligations contained in this agreement. 8. SEVERABILITY. The terms and provisions of this Agreement are not severable, and in the event any portion of this agreement shall be found invalid or illegal then the entire agreement shall be null and void. 9. LAND USE APPROVAL. This agreement does not constitute a land use approval. Developer agrees that Developer must obtain all necessary land use approvals and permits before Developer begins developing the property. 10. LIMITATIONS OF REMEDIES. Developer and the City hereby agree not to pursue an award of monetary damages for a breach of or nonperformance under this agreement. The only remedies available against the nonperforming party shall be either to with_hold flirther performance under the agreement until the nonperforming party or parties cure the nonperformance or to seek a court order from the Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, Florida requiring the nonperforming party to fulfill its obligations under the agreement. 11. FURTHER ASSURANCES. In addition to the acts recited in this agreement, the City and Developer agree to perform or cause to be performed any and all further acts as may be reasonably necessary to implement the provisions of this agreement, including the execution and/or recordation of further instruments. Preannexation Agreement Page2 OFFICIAL RECORDS ,,-" hob, 2 1813 SEH|NOLE CO.,FL 't condition 13. OTHER LAWS. The failure of this agreement to address a particular pertin, , term or restriction shall not relieve the developer of the necessity of complying with the laws governing said permitting requirement, condition, term or restriction. 14. DURATION. This agreement shall be for a term of five years. 15. NO JOINT VENTURE. This Agreement does not constitute and shall not be construed to create a joint venture between the City and the Developer. WHEREFORE, the parties hereto have caused these presents to be signed all as of the date and year first above written. As approved and authorized for execution by the City Commission at their meeting of ?_IDOl By: der, AICP neering and Planning Attest: City Clerk, City of Sanford William E. KirchoffD~.Revocable Trust County of The foregoing insmerit was ac~owledged before me ~s 1 t ~4 day of Mar~ , 2001 by ~illi~ (who is personally ~own to m~r who produced ~ ~ identification. ~ff~cc;~,l~::lSC~O~70 Not~ Public, State of Vlo~da Prearmexation Agreement Page3 " t Ob, 2 IBit+ Willia E. ~ ~6¢bcable Trust Nixie Colem~, Trustee County ~ock( The foregoing insment was ac~owledged before me this G day of ~ar~ , 2001 by ~ kx/~ f~s of who is personally ~o~ to me or who produced as identification. ~" ~ Public, State of RotA/~¢~ . '~;.,. ,.,:~:s Ai~~Ers, LLC, ......... By: Sad ~ g P~er State of Florida Co~ty of The foregoing insment w~ ac~owledged before me ~is I~ day of ~ & , 2001by ~i ~ J~r ,~M~iA ~+n~ o~e~r+ rwho is persona~} ho~ to maor who produce~ ~ identification. ~ ~O~ D~N~ Cl~ State of Florida S~ategic Ac ' s Colorations Sa ent State of Florida Co~ty of Th~ foregoing instant was achowledged before me ~s !~ day of 2001 by ~dlq~ Janet , as ~r~si~.~+ of ~ra~e~i~ ~ ~si~l~s ~p~;~ ~who m personally ho~ to m~or who produced -- as id:c~ification. C:~W~DOWSNT~MP~Fem~t ~cannexafion.~d NOt~ PHb]iC~ State of Pre~exa~on A~eement Page4 ~ ~ ~ xPmEs JUN 1 ~, ~70