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The Owner/Developer represents that it is the present owner of the followin9 described property (heroinafter referred to as the "Subject Property"): SEE EXHIBIT "A," A'I'i'ACHED 2. Unless otherwise agreed to by the City of Lake MaW, all liens, mortgages, and other encumbrances not satisfied or released of record, must be subordinated to the terms of this Agreement. It shall be the responsibility of the Owner/Develop&r to promptly obtain the said subordination, in form and substance acceptable to the City Attorney. 3. The City of Lake Mary in consideration of the terms and conditions of this Agreement hereby agrees not to oppose the modification of the City of Sanford's Comprehensive Plan as it relates to the Subject Property changing the future land use designations from Seminole County low and medium density residential to City of Sanford Residential, office/institutional and the zoning from Seminole County Agricultural to City to Sanford PD for the proposed Twin Lakes Apartment Development as generally depicted on Exhibit "B" attached hereto and as modified by the terms of this Agreement. 4. The Homeowners Association of the Hills of the Lake Mary in consideration of the terms and condition of this Ageement agree not to oppose the proposed Twin Lakes Garden Apartments Development as generally depicted on Exhibit "B" hereto and as modified by 'the terms - of this Agreement. It is agreed by all parties that Exhibit "B" is adraft, and not a binding plan. · 5. The Developer in consideration of the aforesaid hereby agrees as follows: A. Pursuant to and consistent with the Future Land Use Map designation of the property, the Developer shall be entitled to develop up to 636 dwelling units on the subject property. Within the southernmost twenty (20) acres of the property, the maximum gross density constructed shall be no more than 12.5 units per acre· B. On that portion of the subject property that lies within one hundred (100) feet ........ C. On that portion of the subject property that lies north of the property described in Paragraph B. above, the first row of buildings constructed close to C.R. 46A shall be no more than two (2) stories in height. For buildings within the first row of buildings that are substantially perpendicular to the right-to-way of C.R. 46A, the unit closest to C.R. 46A shall be no more than two (2) stories, and the remaining units shall be no more than three (3) stories. D. The Developer shall construct along the southernmost property boundary, adjacent to the right-of-way of C.R. 46A, a 6' brick wall of a quality and Developer//~Lake Mary'~:' Sanford~*~ OwnerJ.Z, fJ'_Ma Hills of Lake Ma~' (~;~, "' Agreement - Page 3 of 9 character essentially similar to the waft constructed for the development south of C.R. 46A known as the Hills of Lake Mary. E. At the entry from C.R. 46A onto the subject property, the Developer shall construct an entryway feature that includes a fountain(s)essentially consistent in character with those which may be installed by the Hills of Lake Mary and install and maintain landscaping essentially consistent with the residential character of other development along C.R. 46A. F. The Developer shall provide street lighting along the Developer's entire C.R. 46A apartment property frontage. G. The Developer shall have its entryway lined up directly with the Bright Meadow entrance to the Hills of Lake Mary. The Developer will install at Developers sole cost and expense a traffic light at said entrance, if warranted, in accordance with FDOT standards. Developer shall provide the City of Lake Mary with surety in a form acceptable to the City Attomey in an amount sufficient to cover the costs of installation of the traffic light which amount shall be adjusted from time to time to ensure the sufficiency of said surety. 7. This Agreement may be executed in counterparts. The failure of any party hereto to execute this Agreement shall not release nor alter the obligations of the parties actually executing this Agreement. 8. In the event it is the desire of the parties hereunto to amend this Agreement or in any way modify the agreed uses for the Subject Property (as provided herein), the party desiring to amend the Agreement shall provide notice to the other parties and obtain all applicable approvals in writing. 9. This Agreement shall run with the land, shall be binding upon and inure to the benefit of the Owner and its assigns and successors in interest, and the City of Lake Mary and its assigns and successors in interest. The Owner/Developer agrees to pay the cost of recording this document in the Public Records of Seminole County, Florida· 10. If any part of this Agreement is found invalid or unenforceable in any court, such invalidity or unenforceability Shall not affect the other parts of this Agreement, if the rights and obligation of the parties contained herein are not materially prejudiced and if the intentions of the parties can be affected. To that end, this Agreement is declared severable. 11. Where notice is herein required to be given, it shall be by certified mail return receipt requested, addressee only, hand delivery or courier. Said notice shall be sent to the following, as applicable: Develope Lake Mar-/"';-,":: \,Sanford//,-~' Owne~2,).,,f' Hills of Lake Ma~_O>'~: ' ' ' ?~iMI~(OLE' rr, ~, Agreement - Page 4 of 9 , .,~..r~ OWNE~DEVELOPER THE Cl~ OF SANFORD REPRESENTATIVES: REPRESENTATIVES: ira ~lliam Southward, Trustee ~lliam Simmons. City Manager % dames A. Ha~away. Esquire City of Sanford P.O. Box ~33 P.O. Box ]788 Orlando, FL 32802 Sanford, FL 32772 Twin Lakes Garden Apts.. Inc., Developer % damos A. HaRaway. Esquire P.O. Box 633 Orlando, FL 32802 GI~ OF ~KE MAR~S HOMEO~NER'8 ASSOCIATION REPRESENTATIVES: OF THE HILLS OF LAKE MARY: dohn LiRon, City Manager c/o ~sta Community Ass'n Management City of Lake Ma~ Woma~k & Go.. Inc. P-O. Box ~50700 P.O. Box ~61606 Lnke Ma~, FL 327~5 Attainonto 8pfin~s, FL 327J6-J606 ~2. In the event the proposed Twin Lakes Garden Apa~ments project or such other names as it may be known by, is not constructed by Developer, and in the event the appli~ble Comprehensive Plan future land use element and appli~ble zonin~ are not amended to petit an increase in allowable density or intensity from that presently existin~ as contemplated by this A~reement; then, and in the event, the owner may apply to the other panics hereto to release himself and the Subje~ Prope~y from the te~s and conditions of this A~reement, and said other panics shall not unreasonably refuse 8Hch request. ~3. No terns of this a~reement are to be consteed so as to limit or impede the City of Sanford's legal authority to ~ntrol the future plannin~ and development pro~sses suffoundin~ the Developer's proposed aps~ment complex so Ion~ as said a~ions are not in conflict with the terms of this A~reement. SZHh~0Uc' g0. FL A~rccmcn~ - Pa~c 5 or 9 S/~N~D, S~D ~ND ~&/~D THIS ~ DAY OF DECE~ER, 1 ~7, IN TH~ P~HSHNCE OF: /~~~ ~ AGREED AND APPRO D ~Y THE THE C E sign and type witness n~me . "~,~.~/. ft.:. ,i'? i ~; /':/ / P.O. Box 950700 si~ah~ iy~e *itness n~e ' Lake Hazy, ~lor~aa 32795 STATE OF FLORIDA ) couN OF The foregoing instrument was acknowledged before me on thisl.gdday of ..~X,), 1997, by"T'~n'rt~x~, ~L. CT'c,~.~'.'n~ ,whois / pemonally~owntame OR who has produced his~er State of Florida Drivels License No.: as identification and wh~ (did not) take an 8~L: Printed Na~% ' ~7: :,~, ~'..:.~,'~'!" d4/ ~ """"', SEKiROLE CO. FL · ,'7 Agreement - Page 6 of 9 % , 'i AGREED AND APPROVED BY THE ' ' ,',( THE CITY OF SANFORD sign and type witness name .~..~ ~ ·. /,,.., STATE OF FLORIDA ) ) COUNTY OF-_%e,,~; The foregoing instrument was acknowledged before me on this ~.~ day 1997, by Larry A. DaZe , who is ~e~onally kn~ me OR who has produced his/her State of Florida Drive~s L~cense No.: as identification and who did (did not) take an oath. Publ~ ~;~,~'~' ~~g Printed Name ' · '-<. EHINOLE C0. FL Agreement - Page 8 o~' 9 AGREED AND APPROVED BY THE name ~1 HILLS OF LAKE MARY HOME sign ancFtype witnes~ OWNER'S ASSOCIATION, INC. ~. o. ~oz 161606 STATE OF FLORIDA ) ~lt~oa~e Springs, ~ 32716-1606 The foregoin~ inst~ent w~s acknowledged before me on this )~ day of ~ ~ .,~,=~.~'. ~ , by ~ ~r C ~(: ~%~ r (Q~c who s / pe~onally known to me as identification and who did (did not) take an oath. ~o~ Public S~L: ~ ~. ~ cc4~o~zo J. gV'3>IVqNINLL\~NIqABQV, VMVHVH\6/. ~LLFI\:'I /_66 ~ '~ ~ J~qwa:),~O uo palupd seM luawnoop S!Ql e~ueu sseullM ed/~}, pus u6 ZOSZ~q~I 'opu~I;O ~I' ' ? '~ z ~9 xo~ '0 'a ' 'bs~ '&~11~H '~ ss~f o/D 6 Jo 6 ~ed - lu~aa~V q3 '03 1~0}{~N37 gO g t "i L. 1,008 ..L ...... ~V'Sla~~ < ~':<i.:':;:. , | ~::'" ~'~" --' "' ~VI~L~OJDI~I ~.~ · j;'T C:, ~'- :,.. 4 r" ~ 'l~O30~ 16V~ '~lno~ 61 al~{~.l '~t uoll~iS jo '(6ulq~161g o HIJo}l '~'~'~1 t.eJ ~'Qg~ '~ :(L6~ 3DY~ '96 ~00~ SG~OD3U ~lOlJJO) NOIlaI~DS3G Aluaao~a ~ . ~ .~. ...' .. 0FFIC!A!. :-':EHIHOLE '3C. FL Addendure- I of 5 ADDENDUM THE FOLLOWING CLAUSES 8HALL AMEND THE CONTRACT TQ WHICH THEY ARE ATFACHED, NAMELY, that AGREEMENT entered into and made as of the ~ F'day of December, 1997., by and between IRA WILLIAM SOUTHWARD, TRUSTEE, as the Owner of the subject property, and TWIN LAKES GARDEN APTS., INC., a Florida corporation, as the Developer of the subject property, hereinaffer collectively referred to as the "Owner/Developer" and the CITY OF LAKE MARY, a Florida municipal corporation and the CITY OF SANFORD, a Florida municipal corporation and the HILLS OF LAKE MARY HQMEOWNER'S ASSOCIATION, INC., a Florida corporation, hereinafter referred tO as the "Association.'" This ADDENDUM is entered into this ~ '{"day of December, 1997', between IRA WILLIAM SOUTHWARD, TRUSTEE, as the Owner of the subject property, and TWIN LAKES GARDEN APTS., INC., a Florida corporation, as the Developer of the subject property, hereinafter collectively referred to as the "Owner/Developer" and the CITY OF LAKE MARY, a Florida municipal corporation and the HILLS OF LAKE MARY HOMEOWNER'S ASSOCIATION INC., INC., a Florida corporation, hereina~er referred to as the "Association." 1. The Developer shall donate twenty-five thousand ($25,000.00) to the Hills of Lake Mary Homeowner's Association (the "Association") for beautification of their entrances from CR 46A in such fashion as the Association may see fit provided however these monies shall be used for no other purpose. (a) The Developer shall make the donation at such time as the Developer obtains its first building permit from the City of Sanford. (b) As a result of the deferred contribution as aforesaid, the Association may expend its own funds for said entrance beautification and reimburse itself at such time as Developer's contribution is received. (c) The Developer shall provide the City of Lake Mary and the Association with surety in a form acceptable to the city attorney in an amount equal to $25,000 to ensure the donation called for above. 2. Should Developer acquire property along CR 46A adjacent to the Subject Property for similar usage, the Developer shall develop same in a fashion essentially consistent with the terms of this Agreement to include without limitation the extended results of Paragraph(s) 5(B), 5(C). 5(D), and 5(F) of the Contract referred ._, In further consideration oi' the terms and conditions of this Agreement as agreed to '')° -i"~~'' 3. by the Developer and as consideration to the Developer, the City of Lake Mary ~" hereby agrees to contribute a sum not to exceed four thousand dollars ($4,000 O0)~l!~ for the preparation of the Developer's traffic study to establish the need for a traffic "~l~X:) signal as provided in Paragraph Three 3(G) of the Contract referred to above. Said ~.,v._ sum shall be paid directly to the billing engineers. The engineers for the traffic "= ' ' "' OFFIC!A!, "-"-,',n,' ·. BOOK :..'. "- Addendure - 2 of 5 :~,EhfiNOLE C0. FL study shall be ones mutually agreed upon by the developer and the City Manager for the City of Lake Mary. However, it is recognized that the City of Lake Mary recommends that the engineers of Seminole County, Rodda, be used. The aforedescribed sum shall be paid to the billing engineers within thirty (30) days of their wdtten demand· 4. It is the express intent of the parties that the City of Sanford shall not be expected or required to collect or pay any of the sums discussed heroin. 5. This Addendure, as well as the parent Agreement shall run with the land, shall be binding upon and inure to the benefit of the Owner/Developer and its assigns and successors in interest, and the City of Lake Mary and its assigns and successors in interest. The Owner/Developer agrees to pay the cost of recording this document in the Public Records of Seminole County, Florida. 6. If any part of this Agreement is found invalid or unenforceable in any court, such invalidity or unenforceability shall not affect the other parts of this Agreement, if the rights and obligation of the parties contained herein are not materially prejudiced and if the intentions of the parties can be affected. To that end, this Agreement is declared severable. SIGN~ D~ ~ AND DELIVERED THIS I ~" DAY OF DECEMBER, 1997, IN THE PRESENCE OF: ' ~/) ' · . ,, AGREED AND APPROVED BY THE ' · ~,.'. ,~.s -~ - . THE CI sign and type witness name ~. o. Box 950700 La~e ~a=y, ~o~ ~2795 STATE OF FLORIDA ) ) COUN~ O~'~ ) 1997, by ~ ~ E- ~n ~, . who is ~ pemonally kno~ to me OR who has produced his/her 8rate of Flodda Ddve~s License No.: oath. ~l~ . SEAL: Printed Name _ __ ~: ~_ : ~ , .. -' ~//~d~~/.,~.~ ,300~'~ ~EHINOLE C0. FL Addendura - 3 o~ 5 AGREED AND APPROVED BY THE ~ ~ ~,~y THE O~ER: sign and ~ype witness name / BY:~ ~~ ~ r~ [~ ~/ I~LLIAM SOOTHWA STEE sign and type witness name O~ando, ~o~da 32802 STATE OF FLORIDA ) COUNTY OF .~'~,/,~,~,~,~' ) ) The foregoi g instrument was acknowledged before me on this/~' day of 1997, by ~ ~/L.-C/A,,~ .~d~Tv',.F.,? F~ , who is ' personally_known to me _ OR who has produced his/herState ' of Florida Ddver's License No.: as identification and who did (did not) take an o,th. l' -':'~ota~ Pu ,',o SEAL: No~./R~, S~edF'~,ida I~.:~ T~m em~.: ~.~zr~ ~..~,~ Printed Name 0FFIC!AL :'-..;.'~::~-~:)'-.. .- .g. 00~: 2076 SEMINOLE C0. FL Addendure - 4 of 5 AGREED AND APPROVED BY THE .--~,~ / .. k~.^T'~ HILLIS OF LAKE MARY HOMEOVVNER'8 ASSOCIATION, I C. o BY . sign and type witness name c/o v-Ista Commull"Iizy ABE ~a~la. gemellt Womack & Co., Tnc. 1~. O. Box 1.61606 STATE OF FLORIDA All:amoQI:e Springs, FI, 32716-1606 /- as identification and who did ~id~not) take an oath. Notary Public ' SEAL: Pdn ~ ' ~1- COMMiSSiON NUMBER OFFICIAL BOOK "..'. '::' 2077 SEMINOL8 C0. EL Addendunl - 5 of 5 AGREED AND AR ROVED BY THE a~e THE DEV P G  BY: · TS c/o J~es A. ~attaway, Esq. P. O. Box 633 sign and type witness name Orlando, FL 32802 STATE OF FLORIDA ) OR who ha~ produced f'h,~is)her State of Florida Ddver's License No.: - ~ 2 L; - C:~ j- - c;l~i & -C) as identification and who didOdid not) take an oath. Notary Public SEAL: Prjn ":"' yt COMMISSION NUMUicI'~ O~ ~,,O OCT, 25,1998 This document was printed on December 12, 1997 L:\LITX179\HATI'AWAYXDEVLIN2XADDENDUM.TWN