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RESTRICTIVE COVENANT
KNOW ALL MEN BY THESE PRESENTS that OCEAN GARDENS, INC. and
ALISON MORTGAGE INVESTMENT TRUST, the owner and mortgagee, respectively,
of the lands in St. Lucie County, Florida described on Exhibit "A" attached
hereto and made a part hereof, for and in consideration of the issuance of buildir~g
permits to said owner for the construction of buildings on sa:~ land in accordance
with the site plan approved by the Board of County Commissioners, of St. Lucie
County on August 16, 1973, a copy-of said site plan being on file in the Office
of the Bui2ding & 2oning Department of said county, do hereby covenant and agree:
1. Not to construct any dwelling units or hotel or motel units on said
land not shown on said approved site glan.
2. Not to construct any other buildings on said land not shown on said
approved site plan or on a later site plan approved by said Board of County
Commissioners .
That the following persons, firms and/or corporations constitute the owner
and mortgagee having a legal interest in the above-described property as of
the date of execution hereof: _
OWNER: Ocean Gardens, Inc.
n'IORTGAGEE: Alison 14lortgage Investment Trust
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~ These restrictions shall be a covenant running with the land and shall
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remain in full force and effect and be binding upon said martgagee, for the
term of Alison Mortgage Investment Trust's construction laan to Ocean Gardens,
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Inc. , unless released in writing by the Board of County Commissioners of
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St. Lucie County.
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