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DECLAR.ATION OF ~ESTRICTIONS AND AGREEMENT
INDIAN RIVER MINERALS, INC. , a Florida corporation, herein-
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after called "l~iaerals." and CHRYSLER OUTBOARD CORPORATiON, a
Delaware corporation, hereinafter called "Chrysler," in consideration
of the purchase by Chrysler and the sale by Minerals of the property de-
scribed in Exhibit A, and simultaneousLy with the closing thereof, agree:
l. Chrysler's proposed use of the property in Exhibit A requires
that the property be free from the possibility of eurveilance by someone
located in a nearby ta11 building, and it is to ineure this necessity that
this agreement is executed. ~ ~ `
2. Minerals represents and warrante that it is the owner of the fee
simple title to the land lying within a 150-foot radius of the land described
in Exhibit A, except that Minerals owns only to 125 feet south of Parcel 1,
free of all encumbrances except the existing mortgage of record to
Dorot~hy McMillan.
3. Minerals hereby establishes the following agreements, condi-
tions, restrictions and limitations on the land owned by Minerals lying (
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within a 150-foot radiue of the land described in Exhibit A, all of which
t shall be covenants rt~*+*+ing witli the land, binding upoa the present owner
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¢ and all subsequeat purchasers, their heirs, pereonal representatives,
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~ successors and assigns: .
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~ (a) No building or other structure shall be erected, ~
altered, or maintained the elevation of the highest point ~
of which building or structure exceeds a height equal to
~ one foot for each five feet as measured along a straight '
line ~from such building or atructure to the aearest point
on the boundary of the property described ia Exhibit A.
~ (b) Elevation ahall be meaeured from Mean Sea Level
~ (M. S. L. ) as determined by the United Statea Coast and
:
, Geodetic Survey Data.
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(c~ The provieions of this agreement ahall apply only
~ to buildings or structures having an elevation of 21 feet
~ or more above M. S. L.
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0 RK 147 57~ ~
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MLRtNON. fAwY[R, JOMNiTON. DYNNOOY • COLE. 1l00 FII~sT NATIONAL ~ANK sU1lO1N0, MIAMI, RLORICA
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