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HomeMy WebLinkAboutLennar Homes, LLC - Silver Oaks - Development Agreement3) In conforrnity with, in furtherance of, and to implement the Local Government Comprehensive Planning and Land Development Regulation Act and the Florida State Comprehensive Planning Act of 1972, it is the intent of the Legislature to encourage a stronger cammitment to comprehensive and capital facilities planning, ensure the provision of adequate public facilities for development, encourage the efficient use of resouxces, and reduce the economic cast of development. 4) This intent is effected by authorizing local governments to enter into development agreements, subject to the procedures and requirements of ss. 163.3220-163.3243. 5) Sections 163.3220-163.3243 shall be regarded as supplemental and additional to the powers conferred upon local governments by other laws and shall not be regarded as in derogation of any powers now existing. WHEREAS, Section 11.08.00 of the St. Lucie County Land Development Code LDC") specifically empowers the County to enter into development agreements with developers to facilitate the orderly development of real property in St. Lucie County; and WHEREAS, the Developer wishes to construct a residential developrnent consisting of single family homes and multi-family townhouses as well as accessory uses, including, but not limited to, parking facilities (the "Silver Oaks PUD"), all as more specifically depicted on the Silver Oaks 5ite Plan as revised a.nd approved by the County prior to final execution of the Development Agreement by the Chair of the County Commissivn, attached hereto and incorporated herein by reference as Exhibit B("Site Plan"); and WHEREAS, the Property is currently zoned Planned Unit Development on the County's Official Zoning Atlas and is designated Residential Urban (RU) under the Future Land Use Element of the St. Lucie County Comprehensive Plan; and WHEREAS, the Property has received final site plan approval for a development cantaining three hundred and twenty-five residential units consisting of single family homes and multi-family townhomes. The site plan approval is set forth in St. Lucie County Resolution No. OS-021, as amended by Resolutions 07-018 and OS-012, and modified on October 30, 2007 (hereinafter "Site Plan Approval"); and WHEREAS, the Developer owns the Property, which consists of a an approximately one hundred and fifty-five (155) acre parcel located on Tilton Road and Silver Oak Drive; and WHEREAS, the Property is located within the limits of the Lennard Road 1 Municipal Services Benefit Unit (road improvements), the Lennard Road 2 Municipal Services Benefit Unit (potable water improvements), and the Lennard Road 3 Municipal Services Benefit Unit (wastewater treatment improvements) (hereinafter collectively 2 referred to as the "Lennard Road MSBUs") which were created by the County on June 6, 2000; and WHEREAS, the improvements contemplated to be developed and funded through the Lennard Road MSBUs have not been constructed and the County is presently unable to fund those improvements through the MSBUs; and WHEREA5, it is anticipated that the MSBUs may be funded and constructed within five (5) years of the date of this Agreement; and WHEREAS, the Property possesses desirable and requisite characteristics to accommodate the 5ilver Oaks PUD; and WHEREAS, the Silver Oaks PUD may be constructed in phases over a period of years as reflected in the Site Plan Approval and pursuant to the timeframes specified in Exhibit C hereto; therefore, the Developer is desirous of entering into a contractual agreement with the County to memorialize an agreement regarding its development rights with regard ta the Property; and WHEREAS, it is in the best interests of the County and the citizens of the County that the development of the Property be completed in a planned and orderly fashion giving consideration to the subjects addressed by this Agreement; and VVH~REAS, the Developer and the County have agreed upon terms and conditions relating to the development of the Property, development rights, and benefits to the County and the citizens of the County which are acceptable to the Developer and acceptable to the County such that the Developer and the County have deemed it appropriate that the terms and conditions of their agreement be reduced to written form; and WHEREAS, the benefits to the County as a result of entering into this Agreement are unique to the particular circumstances of this Agreement; and WHEREAS, the Act provides a means for the Developer and the County to document the assurances sought by each and commitment to the terms and obligations of this Agreement; and WHEREAS, pursuant to the requirements of Section 163.3225, Florida Statutes 2008), the County has held two public hearings with respect to this Agreement, those being held on February 10, 2009 and February 17, 2009, with public notice provided for each hearing as required by law. NOW THEREFORE, in consideration of the mutual covenants and conditions set forth herein and other good and valuable consideration, the Developer and the County enter into this Development Agreement and do hereby agree as follows: 3 Section 1: Recitals. The foregoing recitals are true, correct and incorporated herein by reference. Section 2: Le~al Descrintion af the Propertv. An accurate legal description of the Property subject to the terms and conditions of this Agreement is attached hereto as Exhibit A, and incorporated herein by reference. The current owner of legal and equitable title to the Property is Lennar Homes, LLC. Lennar Homes, LLC hereby represents and warrants that it is the current owner of all legal and equitable title in the Property. Section 3: Effective Date and Duration of A~reement. Unless extended pursuant to the terms hereof, the duration of this Agreement shall be three (3) years commencing with the effective date of this Agreement. The time for development authorized hereby shall supersede any timeframes for development set forth in the Site Plan Approval, including the expiration date of the Site Plan Approval and that certain Certificate of Capacity No. 20? 1 dated August 5, 2005 ("Certificate of Capacity"). This Agreement shall not become effective until thirty (30) days after delivery of this fully executed and recorded copy of this Agreement to the Florida Department of Community Affairs ("DCA"). The duration of this Agreement may be extended upon mutual consent of the County and the Developer follow a public hearing as provided for in the Act In the event DCA or any other interested party not affiliated with the landowner or developer files a lawsuit or other legal proceeding challenging the validity af this Agreement, this Agreement shall not become effective until such time as a judgment is entered by a court of competent jurisdiction finding the Agreement valid and enforceable and such judgment becomes final and non-appealable. Section 4: The Silver Oaks PUD. The application and all submissions, documents and correspondence related to the proposed development of the Silver Oatcs PUD, including (without limitation) all traffic and environmental studies, are hereby incorporated herein as "Application Materials." A. Site Plan for Development. Attached hereto and incorporated herein as Exhibit B is the Site Plan for the Silver Oaks PUD depicting the proposed areas of development, the respective types of development to be constructed on the Property and the buffers of the development on the perimeter of the Property. The parties understand and agree that the attached Site Plan and the Site Plan Approval establish the maximum building density for the Silver Oaks PUD as well as the minimum landscaping and wetland buffers for the perimeter. The parties further understand and agree that the Site Plan generally depicts the southern alignment for Lennard Road, as more thoroughly described in Section 5 of this Agreement. For purposes of this Agreement, it is agreed that the Site Plan accurately 4 County standards at the expense of the Developer, subject to receipt of all required governmental approvals. The parties further understand and agree that all sidewalks and roads located within the Silver Oaks PUD shall be owned and maintained by the Silver Oaks Property Owners' Association. Those traf~c improvements constructed by the Developer pursuant to this Agreement which are located outside of the Silver Oaks PUD shall ultimately be dedicated to the County for its ownership and maintenance. E. Landscaping; Site Restoration. The landscaping for the Silver Oaks PUD will be as depicted on the Site Plan, to the extent possible. The Developer acknowledges that all landscaping must be completed in accordance with the applicable provisions of the St. Lucie County Land Development Code. Prior to issuance of a Vegetation Removal Permit or Exemption, the Developer shall finalize an Improvement Agreement acceptable to the St. Lucie County Environmental Resources Department ("ERD") covering the cost to restore the site as well as the cost of all required landscaping, irrigation, and related improvements as shown in the Site Plan. F. Wetlands. The parties agree that wetlands depicted on the Site Plan are to be created and/or defined by the Developer as part of the Silver Oaks PUD. The Developer represents that it has obtained certain environmental permits for various federal, state and local authorities and that the same are identified in Exhibit D hereto. The Developer acknowledges that it is responsible for obtaining all necessary wetland permits from the applicable permitting agencies whether federal, state or local. The Developer reserves the right to seek all necessary regulatory approvals (including filling authorization) for altering the jurisdictional wetlands, if any, depicted on the Site Plan in a manner which would require the least disturbance possible but permit the Developer to facilitate the Silver Oaks PUD as depicted on the attached Site Plan. The parties understand that Developer may seek variances from the County wetland setback requirements, however, the parties agree that this Agreement shall in no way constitute evidence that any variance shall be granted or denied. The Board of County Commissioners expressly reserves the right to grant or deny any variance requested by any property owner with regard to the Property. Prior to issuance of a Vegetation Removal Permit or Exemption or prior to or contemporaneous with recordation of a final plat, whichever occurs first, the applicant or his assigns shall provide a conservation easement in favor of St. Lucie County for the wetland preserve areas, including their associated upland buffers. The conservation easement shall be in a form acceptable to the County Attorney and substantially in the form attached hereto as Exhibit G.. The easement shall provide that the Homeowner's Association shall be responsible for maintaining the conservation easement area in accordance with the St. Lucie County approved Preserve Area Monitoring and 6 Management Plan. Wetland preserve areas covered by the above-mentioned conservation easement shall be identified on the final recorded plat, and the book/page of the easexnent document shall be indicated on the plat. G. Upland Preserves. Prior to issuance of a Vegetation Removal Permit or Exemption or prior to or contemporaneous with the recordation of the final plat, whichever occurs first, the Developer shall dedicate to the County by separate instrument the upland preserves as shown on the approved Site Plan. The instrument effecting the dedication shall be in a form acceptable to the County Attorney and substantialty in the form attached hereto as Exhibit H. The dedication shall provide that the Homeowner's Association shall be responsible for maintaining the Upland Preserve areas in accordance wiCh the St. Lucie County-approved Preserve Area Monitoring and Management Plan. H. Utilitv Services. The Developer will supply adequate public utility facilities and services to serve the Silver Oaks PUD concurrent with the impact creating the need for such services, including, but not limited to, potable water distribution, wastewater collection and solid waste disposal. The Developer will work with all necessary governmental entities, including the City of Port St. Lucie, to ensure that utilization of the constructed utility system will not adversely impact those utility customers adjacent to the Silver Oaks PUD. The Developer must obtain all necessary governmental approvals and permits prior to utilization of any potable water or wastewater collection utility system constructed by Developer. Potable Water Distribution. Drinking water for the Silver Oaks PUD will be supplied by the City of Port St. Lucie. The Developer will construct or cause to be constructed all necessary potable water service infrastructure within the Silver Oaks PUD. It is the intention of the Developer that upon construction of such potable water service infrastructure, the infrastructure will be ultimately awned and maintained by the City. Water service will be available to each area of the Silver Oaks PUD in adequate volume prior to improvements being constructed in each particular phase of development. 2. Wastewater Callection. Wastewater collection and treatment services for the Silver Oaks PUD will be provided by the City of Port St. Lucie. T'he Developer will construct or cause to be constructed all wastewater collection infrastructure within the Silver Oaks PUD. It is the intention of the Developer that upon construction of such wastewater collection infrastructure, the infrastructure will be ultimately owned and maintained by the City. Wastewater collection service must be available in adequate capacity prior to construction of improvements in each particular phase of development. 3. Solid Waste Disposal. There will be no particular improvements or facilities required for solid waste collection within that portion of the Silver Oaks PUD comprised of single family or multi-family residential units. I. Stormwater Treatment Facilities. The stormwater treatrnent facilities for the Silver Oaks PUD will be constructed as depicted on the Site Plan and as approved by the Site Plan Approval. All stormwater runoff and drainage system improvements within the Silver Oaks PUD will be: (1) designed and constructed to County standards; (2) treated to minimum South Florida Water Management District water quality standards; (3) constructed or caused to be constructed by the Developer; and (4) maintained by the Silver Oaks Property Owners' Association. The County will not be responsible for any construction or maintenance costs associated with the stormwater drainage system within the Silver Oaks PUD. The system will be designed and constructed so that there will be no outflow onto adjacent properties unless otherwise approved by the County and other regulatory authorities and will be designed to protect adjacent surface waters by use of best management practices and other innovative techniques. Certificate of Capacit~ Pursuant to Section 4.A., above, the Certificate of Capacity for the Silver Oaks PUD shall be extended for a period of three (3) years from the effective date of this Agreement. Furthermore, pursuant to Section S.D. the Certificate of Capacity shall apply if access to the site is secured via the extension of Lennard Road by the County (under the MSBU) or the Developer or if access is established via the connection of Tiltan Road to Prima Vista Boulevard. The parties acknowledge that improvements to Midway Road will be required to mitigate the impact of the Silver Oaks PUD and that the total cost of those improvements is estimated to be $38,900,000. The parties further acknowledge and agree that the Developer's proportionate fair share of such improvements based on its relative traffic impact will be $340,764.00. Accordingly, the Developer agrees to pay to the County and the County agrees to accept $340,764.00 as the Developer's proportionate fair share payment for such improvements. Such payment shall be made within thirty 30) days of commencement of physical construction of the improvements to Midway Road (currently scheduled to commence in March 2012), after notice provided by the County to Developer, but no sooner than March 1, 2012, or prior to issuance of a building permit for a lot in the subdivision, whichever occurs first. In the event such payment is not made within the time specified above, the Certificate of Capacity and Site Plan depicted in Exhibit B shall expire and the remaining portions or unimplemented provisions of this Agreement shall become null and void. 8 K. Other Conditions of Site Plan Approval. Unless otherwise provided in this Agreement, Developer shall comply with all conditions af approval set forth in Section A of the Site Plan Approval, which conditions are incorporated herein by reference. Section 5: Other Developer Contributions. In addition to the aforementioned Developer cantributions to the public infrastructure of St. Lucie County, the Developer agrees to make the following additional contributions toward off-site improvements in areas near and adjacent to the Silver Oaks PUD by providing payment to the County for the purpose of such improvements or facilitating the construction of said improvements within the timeframes set for herein. A. Lennard Road: 1. MSBUs and Sing;le Family Assessments The Developer acknowledges the existence of the Lennard Road MSBUs and the inclusion of the Silver Oaks PUD within the Lennard Road MSBUs. The Developer agrees to pay the assessments ultimately levied against the single family residential properties within the Lennard Road MSBUs (less $18,000 already paid) which are identified with more particularity in Exhibit E(the "Sin lg e Familv Assessments"). The Developer agrees to pay the abave sum upon funding of the MSBUs and within forty-five 45) days of the receipt of an invoice from the County setting forth the estimated amount due. If the final cost is more than the estimated cost, the Developer shall pay an additional amount within forty-~ve (45) days of receipt of an invoice for the difference. If the final cost is less than the estimated cost, the Developer shall be entitled to receive a refund of the difference. This obligation shall survive the revocation or termination of this Development Agreement. Developer's agreement to pay in excess of fifty percent of the amount of the Single Family Assessments as set forth above shall not impact or increase Developer's relative obligation to pay its portion of the remaining cost of the MSBUs attributable to its development. 2. Dedication of Right of Way Within ninety (90) days of the effective date of this Agreement, the Developer agrees to dedicate those areas of the Property which are within the right-of-way for the southern alignment of Lennard Road as depicted in Exhibit F hereto (hereinafter Lennard Road extension"). The conveyance shall be in a manner and form acceptable to the County Attorney. Upon dedication of the right of way by Developer, Developer, and its successors in interest to the Property, sha11 be entitled to a credit against all applicable traffic impact fees imposed by the County at the time of building permit issuance. The amount of the impact fee credit shall be established pursuant to Section 17-33.1(c)(b}, St. Lucie County Code of Ordinances. The credit against impact fees provided hereby shall run with the land and extend in perpetuity until exhausted. The parties agree that under no 9 circumstances will the right-of-way dedicated to facilitate construction of the Lennard Road extension exceed one hundred thirty (130) feet in width and two thousand six hundred (2600) feet in length along the southern boundary of the Property. Along the western property line, the right-of-way dedicated to facilitate construction of the Lennard Road extension shall not exceed twenty four (24) feet in width and shall be located no less than three hundred and eighty (380) feet from the southwest property corner nor less than four hundred ninety five (495) feet fram the northwest property corner. The parties hereby agree that under no circumstances shall the ri,ght-of-way dedicated by Developer pursuant to this Development Agreement to facilitate construction of the Le~ard Road extension exceed 8.676 acres or 377,935.78 square feet. Upon written notice from the County that the MSBUs will be funded to allow construction of the roadway, within ninety (90) days thereafter the Developer agrees to submit to the County an estimate of the construction costs for the Lennard Road extension within the Silver Oaks PUD that are to be borne by the Developer. The Developer agrees that it will be responsible for construction of the Lennard Road extension within the boundaries of its Property only to the extent such alignment overlaps or is parallel to Silver Oak Drive and is adjacent to ar north of the northern most right of way line of Dyer Road. The County agrees that it, or another governmental entity, is responsible for construction of the remainder of the Lennard Road extension, including all portions of the Lennard Road extension which are located south of the northern most right of way line of Dyer Road. The Developer further agrees to post security in the form of a performance bond or letter of credit ("Security") in the amount of the estimated construction costs for the L,ennard Road extension for which the Developer is responsible within ninety (90) days of receiving written notice that the MSBUs will be funded or within thirty (30) days of receipt of a notice to proceed with the construction of the MSBU portion of the Lennard Road extension, which ever occurs later. The parties may mutually agree to one (1) reduction in the value of the Security as Lennard Road is constructed and agree that the Security shall be returned or released upon completion of the Lennard Road extension roadway improvements for which the Developer is responsible within the Silver Oaks PUD. B. Tilton Road Prior to or contemporaneous with construction of the Silver Oaks PUD, the Developer agrees, at its own cost, to design, permit and construct those portions of Tilton Road extending from Silver Oak Drive to the easternmost project entrance of the 5ilver Oaks PUD on Tilton Road and to diligently pursue such construction through completion. Upon completion of construction, Developer shall dedicate to the County those areas of the Property which are within the right-of-way for those portions of Tilton Road constructed by the Developer to establish such entrance. The design and construction of Tilton Road shall be subject to inspection and approval of the County. The parties agree that Mr. Michael Powley shall initially serve as the liaison between the Developer, County and St. Lucie County Public Works Department for purposes of coordinating completion of the Tilton Road improvements. No certificates of occupancy may be issued for the Silver Oaks PUD until the Tilton Road improvements are complete and 10 conditionally accepted by the County. The Developer shall be required to enter into a separate road improvement agreement with the County and to furnish the County with a form of security approved by Che County Attorney. The amount of security shall be 115% of the estimated cost of construction. The engineer's estimate of probable cost shall be approved by the County Engineer. C. Silver Oak Drive Prior to or contemporaneous with the construction of the Silver Oaks PUD, the Developer, at its own cost, agrees to design, permit and reconstruct and/or widen Silver Oak Drive from Dyer Road to Tilton Road and diligently pursue such construction Chraugh completion. Upon completion of such reconstruction and/or widening, Developer shall dedicate such improvements to the County. The design and construction of the improvements to Silver Oak Drive sha11 be subject to inspection and approval by the County. The Developer agrees to cooperate with the County in its construction of improvements along Silver Oak Drive to assure that the roadway as improved will align properly with that portion of the Lennard Road extension that will be funded by the County via the Lennard Road MSBU. The parties agree that Mr. Michael Powley shall initially serve as the liaison between the Developer, County and St. Lucie County Public Works Department for purposes of coordinating completion of the Silver Oaks Drive improvements. No certificates of occupancy may be issued for the Silver Oaks PUD until the Silver Oaks Drive improvements are cornplete and conditionally accepted by the County. The Developer shall be required ta enter into a separate road improvement agreement with the County and to furnish the County with a form of security approved by the County Attorney. The amount of security shall be 115% of the estimated cost of construction. The engineer's estimate of probable cost shall be approved by the County Engineer. Upon dedication af the right of way and improvements by Developer, Developer, and its successors in interest to the Property, shall be entitled to a credit against all applicable traffic impact fees imposed by the County at the time of building permit issuance. The amount of the impact fee credit shall be established pursuant to Section 17-33.1(c)(6), St. Lucie County Code of Ordinances. The credit against impact fees provided hereby shall run with the land and extend in perpetuity until exhausted. D. Fundin o~ f MSBUs. The parties acknowledge that, as of the date of this Agreement, the MSBUs are currently not funded and may not be funded during the term of this Agreement. In the event the MSBUs are not in existence and funded within three (3) years of the effective date of this Agreement such that paved access and utilities are not made available to the Property within the term hereof, and in the event no mutually agreeable alternative arrangements for the provision of paved access and utilities are made, then Developer shall be entitled to undertake the development and construction of roadway and utilities intended to be constructed through the MSBUs at its own expense. The County agrees to cooperate with Developer in securing access for purposes of installing all roadway and utility improvements pursuant to this paragraph. In addition, Developer shall be entitled 11 to impact fee credits for its construction of roadway improvements in an amount to be established pursuant to Section 17-33.1(c)(6), St. Lucie County Code of Ordinances. Alternatively, in the event the MSBUs are not funded and constructed pursuant to the terms hereof, the Developer, at its sole option, may procure access to the Property by connecting Tilton Road to Prima Vista Boulevard. The costs associated with the design, permitting, and construction of such extensian shall be borne by Developer. However, Developer shall be entitled to an impact fee credit for roadway improvements in an amount to be established pursuant to Section 17-33.1(c)(6), St. Lucie County Code of Ordinances. Furthermore, in the event Developer secures and constructs access to the Silver Oaks PUD via Prima Vista Boulevard as provided herein, the Certificate of Capacity shall remain in full force and effect; Developer shall not be required to amend the Certificate of Capacity to allow Developer to proceed with development of the Silver Oaks PUD based on the alternative access. Nothing contained in this subsection shall eliminate the Developer's obligation to make improvements to Silver Oak Drive and Tilton Road as set forth above. Section 6: St. Lucie Count~Development Approvals. All development permits approved or requiring approval by the County for development of the Property shall be issued by the County in accordance with County regulations, including but not limited to, the Comprehensive Plan, the LDC, and the County Code of Ordinances. The parties agree that such County regulations that are in existence and effect on the date of the execution of this Agreement will control and establish the density, intensity, bulk, height, setback, and the land uses and structures allowed to be developed on the Property under this Agreement. However, the parties specifically agree that the Developer will be required to comply with any code or ordinance in effect at the time of development approvals that govern the process for obtaining development approvals, site plan review codes, subdivision codes, platting codes; further the developer will comply with all other ordinances in effect at the time of development approval that govern environmental protection, trees, signage, traffic, utilities, concurrency, stormwater, and drainage, and the developer will pay all required fees and costs imposed by the County including impact fees as set by local code in existence at the time of development approval; notwithstanding the foregoing, to the extent approvals from the County or applicable regulatory have been procured and/or are reflected in the Site Plan, Site Plan Approval, or preliminary plat, the previously secured permits shall control. All applications for building permits shall comply with the building code in effect at the time of application. Notwithstanding anything to the contrary contained herein, the Site Plan and Site Plan Approval, as the same may be amended pursuant to the terms hereof, and the Certificate of Capacity shall not expire so long as a building permit is issued for the Silver Oaks PUD within the term of this Agreement and such building permit does not otherwise expire pursuant to the terms of Section 11.02.06 of the LDC. 12 Section 7: Other Development Approvals. The Developer acknowledges and agrees that it may need permits and authorizations from other state and federal agencies which are outside the scope of this Agreement. 1'he Developer represents that it has procured various permits relating to the development contemplated hereby and that such permits are identified in Exhibit D hereto. The Developer further represents that additional local permits may be necessary prior to issuance of a Final Development Order as further described in Exhibit D. In the event that any state or federal law is enacted after the execution of this Agreement that is applicable to and precludes the parties from complying with the terms of this Agreement, then this Agreement shall be modified or revoked as is necessary to comply with the relevant state or federal law. Prior to modifying or revoking this Agreement, the Board shall hold two public hearings consistent with the requirements of Section 11.08.02 of the LDC. Section 8: Consistenc~With Comprehensive Plan and Land Development Code. A. Reservation of Dedication of Land for Public Purposes. The parties acknowledge that the Developer is making the certain dedications of land and improvements for public purposes as described herein and in the Site Plan Approval for the Silver Oaks PUD, including: (1) dedication of a conservation easement over the preserve areas within the development, including the upland preserve areas, the wetlands, and the wetland buffers as more particulazly depicted on the Site Plan; (2) dedication of the right of way for the southern alignment of Lennard Road; and (3) dedication of right of way improvements to be made to Silver Oak Drive and Tilton Road as described herein. The parties agree that consideration for the above dedications have been given by the County in the form of approval of this Agreement and other considerations, including credits against road impact fees as set forth above so that the provisions of Section 255.22, Florida Statutes, do not apply to the above dedications. B. I.ocal Development Permits. The parties acknowledge the Developer's receipt of the various permits described in Exhibit D hereto. In addition, the following is a list of all local Development Permits approved or needed to be approved for the development of the land: 1. No comprehensive plan amendment is required. 2. No rezoning is required. 3. No permits are required to be submitted to the Treasure Coast Regional Planning Council or the Florida Department of Community Affairs (other than this Agreement) 13 Agreement, the prevailing party shall be entitled to recover from the other party all costs of such action, including reasonable attorney's fees. None of these remedies shall be deemed exclusive of one another, or exclusive of any other remedy which the Court having jurisdiction deems appropriate. Such remedies shall be granted either singularly, or in combination, to the extent necessary to achieve the intent of this Agreement. In the event this Agreement is terminated in accordance with the terms hereof, the Site Plan Approval shall expire and no longer be valid. Section 10: Annual Review In accordance with Section 11.08.08 of the LDC, the Board shall review the development that is subject to this Agreement every twelve (12) months, commencing twelve (12) months after the effective date of this Agreement. The Board shall begin the review process by giving notice, a minimum of ninety (90) days prior to the anniversary date for the effective date of this AgreemenC, to the Developer of its intention to undertake the annual review of this Agreement and the necessity for the Developer to provide the following: A. An identification of any changes in the plan of development as contained in the Site Plan, or in any phasing for the reporting year and for the next year. B. If the Site Plan provided for phasing, a summary comparison of development activity proposed and actually conducted for the year. C. Identification of undeveloped tracts of land that have been sold to a separate entity or Developer. D. An assessment of the Developer's cornpliance with each condition of approval set forth in this Agreement. E. Identification of signi~cant local, state and federal permits which have been obtained or which are pending by agency, type of permit, permit number and purpose of each. F. Description of progress on required improvements to Tilton Road and Silver Oak Drive. Any information required of Developer during an annual review shall be limited to that necessary to determine the extent to which the Developer is proceeding in good faith to comply with the terrns of this Agreement. If the County finds on the basis of substantial competent evidence that there has been a failure to comply with the terms of the Agreement, the County may revoke or modify the terms of this Agreement in accordance with the procedures set forth in Section 9. 16 EXHIBIT A A PARCEL OF I.AND LYING WITHIN TRACTS 1 THROUGH 16, BI.OCK 4, PLAT NO. 1, SAINT LUCIE GARDENS, AS RECORDED IN PLAT BOOK 1, PAGES 35 AND 36, PUBLIC REC4RDS OF ST. LUCIE COUNTY, FLORIDA, AND LYING IN THE SOUTHEAST QUARTER OF SECTION 23, TOWNSHIP 36 SOUTH, RANGE 40 EAST, ST. LUCIE COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS Ff)I.LOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 23; THENCE SOUTH 89°52'45" WEST AL4NG THE SOUTH LINE OF THE SOUTHEAST ONE QUARTER (SE 1/4) 4F SAID SECTION 23, A DISTANCE 4F 2597.44 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LINE OF SILVER OAKS DRIVE (A 100 FOOT WIDE RIGHT-OF-WAY), SAID LINE BEING PARALLEL WITH AND 50 FEET EAST OF, AS MEASURED AT RIGHT ANGLES TO, THE WEST LINE OF THE S~UTHEAST ONE QUARTER (SE 1/4) OF SAID SECTION 23; THENCE NORTH 00°13'26" WEST ALONG SAID EASTERLY RIGHT-OF-WAY LINE, A DISTANCE OF 2606.82 FEET TO A POINT ON THE SOUTH RIGHT-OF-WAY LlNE OF TILTON ROAD (AN 80 FOOT WIDE RIGHT-UF-WAY), SAID LINE BEING PARALLEL WITH AND 40 FEET SOUTH OF, AS MEASURED AT RIGHT ANGLES TO, THE NORTH LINE OF SAID SOUTHEAST ONE QUARTER (SE 1/4) OF SAID SECTION 23; THENCE NORTH 89°56'47" EAST ALONG SAID SOUTH RIGHT-OF-WAY LINE, A DISTANCE OF 2611.15 FEET TO A POiNT ON THE EAST LINE OF SAID SOUTHEAST ONE QUARTER (SE 1I4} OF SAID SECTION 23; THENCE SDUTH 00°04'40" WEST ALONG THE EAST LINE OF SAID SOUTHEAST ONE QUARTER (SE 1I4) OF SAID SECTION 23, A DISTANCE OF 2603.77 FEET TO THE POINT OF BEGINNING. 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EXHIBIT D SILVER OAKS PERMITS / APPROVALS Permits for Earthwork and Clearing Operations S.F.W.M.D. Environmental Resources Permit Issued 7/12/2006 S.F.W.M.D. Water Use Permit - Dewatering Issued 9/26/2008 St. Lucie County Stormwater Permit (Engineering/Public Wprks) Issued 8/14/2006 St. Lucie County Vegetation Removal Permit Army Corps. Of Engineers Permit Issued 8/21 /2006 NPDES Generic Permit Coverage from the Florida Department of Environmental Protection Permits for Site Development: S.F.W.M.D Environmental Resources Permit Issued 7/27/20p7 S.F.W.M.D. Water Use Permit - Dewatering Issued 9/26/2008 S.F.W.M.D. Water Use Permit - Irrigation Issued 12/6/2006 St. Lucie County Stormwater Permit (Engineering/Public Works) Issued 11/8/2007 NPDES Generic Permit Coverage from the Florida Department of Environmental Protection St. Lucie County Right-Of-Way Permit - Dyer Road Water Main St. Lucie County Right-Of-Way Permit - Silver Oak Drive/Tilton Road Utilities St. Lucie County Right-Of-Way Permit - Silver Oak Drive/Tilton Road Paving and Drainage St. Lucie County Fire Department Approval Issued 10/1/2007 City of Port St. Lucie Water and Sewer Plan Approval Issued 5/20/2008 Florida Dept. of Environmental Protection Water General Permit Florida Dept. of Environmental Protection Wastewater General Permit St. Lucie County Plat Approval and Recordation St. Lucie County Conservation Easement Approval and Recordation St. Lucie County Landscaping Improvement Agreement Approval and Recordation 25 DEED OF CI~NSERVATi4N EASEMENT Retum recarded document ta South Fiorida Water AAanagement Disfict 3301 Gun Ciub Road, MSC 4210 West Palm Beach, ~L 33406 THIS DEED pF CONSERVATI4N EASEMENT is given this day of npri+ , 20 ~ , bY Lennar t~mes, Inc. Granto~') whose mailing address is 1015 North State Road 7, Royaf Palm Beach, Florida 33411 t0 the St. Lucie County Board of Counry Cammissioners ("Grantee") with third pa~ty enforcement rights to #~e South Florida Water Management District District"). As used herein, the te-m "Granto~' shall include any and all heirs, successars or assigns of the Grantor, and ali subsequent ovmers of the "Property" (as hereinafter defined) and the term "Grantee" shall inciude any successor or assignee of Grantee. WITNESSETH ' WHEREAS, the Grantor' is the owner of certain lands situated in st. u,c~s County, Fiorida, and more specificaily described in Exhibit "A" attached hereto and incorporated herein ("Property"); and WHEREAS, the Grantor desires to construct Silver' Oaks ("PrOjeCt"} at a site in St• ~~1e County, which is subject to the regulatory jurisdiction of tfie District; and WHEREAS, District Permit No. ~1~-P ("Permit") authorizes certain activities which affect waters in ar of the State of Florida; and Fonn 1194 (Ui/2007) Deed of Conservaatiion Easament - Third Party Standard Page 1 of 8 Exhibit G WHEREAS, this Permit requires that the Grantor preserve, enhance, restore and/or mi#igate wetlands and/o~ uplands under the District's jurisdiction; and WHEREAS, the Grantor, in consideration of the cansent granted by the Permit, is agresable to granting and securing to the Grantee a perpetual Conservation Easement as defined in Section 704.06, Fiorida Statutes, over the a~ea described on Exhibit "B" ("Conservation Easement") which includes ihird party enfo~cement rights for the District. NOW, THEREFORE, in conside~ation of the issuance of the Permit to construct and operate the permitted activity, and as an inducement ta the District in issuing the Permit, together with other good and valuable consideration, the adequacy and receipt of which are hereby acknowiedged, Grantor hereby grants, creates, and establishes a perpetual Conservation Easement for and in favar of the Grantee upon the property described on Exhibit "8" which shall run with the land and be binding upon the Grantor, and shall remain in full force and effect foreve~. The scope, nature, and character of this Conservation Easement shail be as follows: 1. Recita~; The recitats hereinabove set torth are tn~e and correct and are hereby incory~orated into and made a part of this Conservation Easement. 2• Puroose. It is the purpose of this Conservation Easement to retain land or water areas in their natural, vegetative, hydrologic, scenic, open, agriculturai or wooded condition and to retain such areas as suitable habitat for fish, plants or wildlife. Those wetiand and/or upland areas included in the Conservation Easement which are to be enhanced or created pursuant to the Permit shatl be retained and maintained in the enhanced or created conditions required by the Permit. To carry out this purpose, the folfawing rights are conveyed to Grantee and the District by this easernent: . a. Ta enter upon the Property at reasonable times with any necessary equipment or vehictes to enforce the rights herein granted in a manner that wi!! not unreasonably interFere with the use and quiet enjoyment of the Property by Grantar at the time af such entry; and b. To enjoin any activiiy on or use of the Properiy that is inconsistent with this Conservation Easement and to enfarce the restoration of such areas or features of the Conserva~on Easement that may be damaged by any inconsistent activity or use. 3. Prohibited Uses. Except for restoration, creation, enhancement, maintenance and monitoring activities, or surface water management improvements or other activities described herein that are permitted or required by the Permit, the following activities are prohibited in or on the Conservatian Easement: a. Construction or placing of buildings, roads, signs, billboards or other advertising, uutilities, or other structures on or above the ground; d~wmsi~a v Form 1194 (01/2007) Deed of Conservatlon E.asement - Third Party Standard Page 2 of 8 b. Dumping or placing of soi! or other substance pr material as landfiil, or dumping or piacing of trash, waste, or unsightly or affensive materials; c. Removal or destrucction of trees, shrubs, or other vegetation, exceptfortheremavalofexoticornuisancevegetationinaccordancewithaDistrictapproved maintenance plan; d. Excavation, dredging, or removat of loam, peat, gravel, soil, rack, or othe~ material substance in such manner as to affect the surface; e. Surface use except for purposes that permit the land or water area to remain predominately in its naturai or enhanced conditior-; f. Activities detrimental to drainage, #lood control, water conservation, e~osion control, soil consenration, or fish and wiidlife habitat preservation including, but not limited to, ditching, diking and fencing; g. Acts or uses detrtmental to such aforementioned retention of land or water areas; h. Acts or uses which are detrimentai to the preservation of the structural integrity or physical appearance of sites or properties having historical, architectural, archaeotogical, or cultural significance. 4. Grant~,r's Resenred Rinhts Grantor reserves all rights as owner of the Property, including the right to engage in uses of the Property that are not prohibited herein and which are not inconsistent with any District rule, criteria, permit and t! ~e intent and purposes of this Conservation Ease~nt.- 5. No Dedica#ion. No right of access by the general pubfic to any portion af the Property is conveyed by this Canservation:Easement. 6. Grantee's and DistricYs Liabifity, Neither Grantee nor the District shall be responsible for any costs or iiabilifies related'#o the operation, upkeep or maintenance of the Property. 7. Praoe Taxes. Grantor shall keep the payment of taxes and assessments on the Easernent Parcel cdrrent and shall not allaw any lien on the Easement Parcel superior to this Easement. In the event Grantor fails to extinguish or obtain a subordination of such lien, in addition to any other remedy, the Grantee may, but shall not be obligated to, elect to pay the lien on behalf of the Grantor and Grantor shall reimburse Grantee for the amount paid by Grantee, together witt~ Grantee's reasonable attomey's fees and costs, with interest at #he maximum rate allowed by law, no later than thirty days after such payment. In the event Grantor daes not so re~mburse the Grantee, the debt owed to Grantee shall constitute a lien against the Easement Parcel which shall automatically relate back to the recording date of this Easement. Grantee may foreclose this lien on the Easement Parcel in the manner provided for mortgages an real property. Form 1194 (01 /2W7j Deed of Conservation EasemeM - Third Pariy Standard Page 3 of 8 8. Third Partv Enforc~ment Riahts The District shaii have third party enforcement rights of the terms, provisions and restrictions of this Conservation Easement. Enforcement of the terms, provisions and resMctions shall be at the discretion of the Grantee, or the District, and any forbearance on beha{f of the Grantee or the District to exercise its righ#s hereunder in the event af any breach hereof by Grantor, shali not be deemed or construed to be a waiver of Grantee's or District's rights hereunder. 9. Ass~,gp~, Grantee wiil hold this Conservatian Easement excfusively for conserva~on purposes. Grantee will not assign its rights and obligations under this Conservation Easement except to another organization or enti~ty qualified to hold such interests under the applicable state laws. No assignment shall be made unless prlor written approval is given by the District. 10. Severabilit,y. If any provision of this Conservation Easement or the application thereof to any person or arcumstances is found to be invalid, the remainder of the provisions of this Conservafion Easement shall not be affected thereby, as long as the purpose of the Conserva#ion Easement is presenied. 11. T~rms. Restrictians Condi~ians and Purnose The terms, canditions, restricfions and purpose of this Conservation Easement shall be referred to by Grantor in any subsequent deed- or ather legal instrument by which Grantor divests itself of any interest in the Conservafion Easement. Any futu~e holder of the Grantor's interest in the Property shall be notified in writing by Grantar of this Conservation Easement and the third party enforcement ~ights af the South Florida Water Management District. 12. Written Notice. All notices, consents, approvals or other communications hereunder shall be in writing and shall be deemed prope~fy given if sent by United States certified mail, retum receipt requested, addressed to the appropriate party ar successor-in-interest. 13. Modifi~tions. Any amendments or modificatians to the terms, conditions, restrictions, or purpose of this Conservabon Easement, or any release or termination thereof, shall be subje~t to prior revlew and written approvaf by the Disttict. The District shall be provided no less than 90 days advanced notice in the manner described herein of any such proposed amendment, ' modificafion, termination or release. This Conservation Easement may be amenc~d, attered, released or revoked oNy by written agreement between the parties hereto and the Distriet or their heirs, assigns or successors-in-interest, which shall be ' flled in the public records in St. Lucie County. TO HAVE AND TO HOLD un#o Grantee forever. The covenants, terms, conditions, restrictions and purposes imposed with this Conservation Easement shall be binding upon Grantor, and shall continue as a servitude running in perpetuiiy with the Properly. Grantor hereby covenants with said Grantee that Grantor is lawfully seized of sald Property in fee slmple; that the Canserva~on Easement is free and clear af all irf~U~6 . ~~ Form 1194 (01I2067) Deed of Conservafion Easemerit - Third Party Standard Page 4 af 8 encumbrances (that are incansistent with the terms af this Conservation Easement) and all mortgages and liens on the Conservatian Easemant area, if any, have been subordinated to this Conserva~on Easement; that Grantor has good right and lawfui authority to convey this Consenra~on Easement; and that it hereby fully warrants and defends tt~ title tv the Conserva~fipn Easement hereby conveyed against the lawful claims of all persons whomsaever. N WITNESS WHEREOF, Lsnnar Homes, Inc., a Florida Caporation has hereunto set its authorized hand this day of April , 2d 08 Lsnnac Homes, Inc. a Florida corporation By: tsipnature) Name: ~avid aasei~ce P-int) - Title: Vice-President Signed, sealed and delivered in our presence as witnesses: By: gy Signature) (Signature) Name: Name: M) , (P-int STATE OF FLORIDA ss• COUNTY UF PALM BEACW On this day of Ap~i , 20 os before me, the undersigned notary public, personaily appeared Dar;d Basei~ce , the person who subscribed to the foregoing instrument, as the Vice-President (title), Of Lsnnar Homes, mc. (corporation), a Florida corporation, and acknowledged thaf he/she executed the same on behaif of said corporation and the he/she was duly authorized to do so. He/She is personally known to me or has praduced a (state) drive~'s license as identification. Form 1194 (Ot /2007) Deed of Conserva~ar~ Easement - Thircf Party Standard Page 5 of 8 IN WITNESS WHEREOF, I hereunto set my hand and officiai seal. NOTARY PUBLIC, STATE OF FLORIDA Name: signature) Pr(nt} My Comrnission Expires: MORTGAGEE JOINDER, CONSENT AND SUBORDINATION For Ten Doliars ($10.00) and other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, the owner and holder of a mortgage dated , in the originai principai amount of $ , given by Grantor~) to Mortgagee"), encumbering the real property describad on Exhibit "A" attached hereto Properly"), which is recorded in Official Records Book at Page , together with that certain Assignment of Leases and Rents recorded in 4fficial Records Book , at Page and those certain UCC-1 Financing Statement(s) recorded in Officiai Records Book , at Page all of the Public Racords of County, Florida (said mortgage, assignment of leases and rents, and UCC-1 Financing Statements, as modified, are hereinafter referred to as the "Mortgage"), hereby joins in, consents to and subordinates the lien of its Mortgage, as it has been, and as it may be, modified, amended and assigned from time to time, to the foregoing Conservation Easement, executed by , in favor of the South Fiorida Water Management District applicable to the Conservation Easement, as said Conservation Easement may be modified, amended and assigned from time to time, with the intent that the Mortgage shall be subject and subordinate ta the Conservation Easement. 9aC. Form 1194 (01/2007} Deed of Conservation Easement - Third Party Standard Page 6 of 8 Return'recorded document to: SAINT LUCIE COUNTY DEED OF CONSERVATION EA5EMENT THIS DEED OF CONSERVATION EASEMENT ("Conservation Easement") is given this , day of_„_, 2008, by ~~ ("Grantor") whose mailing address is ~~Y to St. Lucie County, a political subdivision of the State of Florida ("Grantee") having an address of 2300 Virginia Avenue, Fort Pierce, FL 34982. As used herein, the term "Grantur" sha11 include any and all heirs, successors or assigns of the GraaZtor, and all subsequent owners of the "Conservation Area" (as hereinafter define~i) and the term "Grantee" shall include any successor or assignee of Grantee. WITNESSETH: WHEREAS, the Graator is the owner of certain lands situated in St. Lucie County, Florida, and more specifically described in Exh,~i ~iit "A" attached hereto and incorporated herein by this reference {"Property"); and WHEREAS, the Grantor is pmposing the development of a XXX ("Project") on the Property, which is subject to the regulatory jurisdictian of the S~ Lucie County Board of County Commissioners ("County'~; aad WHEREAS, the Propezty will be futther subject to the Declaration of Covenants, Conditions and Restrictions of XXX to be recorded in the Official Public Records of St. Lucie Gounry, Florida ("Declarat~ton"); and WHEREAS, the County approved the Major Site Plan for the Project pursuant to Resolufiion NoXXX ("Resolution"); and WHEREA5, the Resolution requires that X~~ ("Association") maintain, in perpetuity, that portion of the Property designated as preserve area ("Conservation Area'~ as more particulazly described in Exhibit "B" attached hereto and incorporated herein by this reference; and WHEREAS, the Declaration provides that the maintenance of the Conservation Area is the perpetual obligation of the Association; and WHEREAS, the Resoluti~n further requires that the Conservation Area be maintained in accordance with that certain Preserve Area Management and Monitoring Plan ("Management Plan"), recorded separately at OR Book XXX, Page X?~; and WHEREA5, the Grantor is agreeable to granting and securing to the Grantee a perpetual Conservation Easement as defined in Section 704.06, Florida Statutes, over the Canservation Area. NOW, THEREFORE, Grantor hereby grants, creates, and establishes a pexpetual Conservation Easement for and in favor of the Grantee upon the Conservation Area which shall run with the land and be binding upon the Crrantor, and shall remain in full force and effect forever. WP8 381, 741,3S7V712/12/'Z007 Eghibit H The scope, nature, and character of this Conservation Easement sha11 be as follows: l. Recitals. The recitals hereinabove set forth aze true and correct and are hcreby incorporated into and made a part of this Conservation Easement. 2. se. It is the purpose of this Conservation Easement to retain land or water areas in their natural, vegetative, hydrologic, scenic, open, agricultural or wooded conditian and to retain such areas as suitable habita.t for fish, plants or wildlife. Those wetland and/or upland areas include~i in this Conservation Easement shall be maintainer~ in the conditions required by the Management Plan. To carry out this purpose, the following rights are conveyed to G~rantee by this easernent: a. To enter upon the Conservation Area at reasonable times with any necessary equipment or velucles to enforce the rights herein granted in a manner that will not unreasonably interf`ere with the use and quiet enjoyment of the Property by Grantor and/or the future residents of the Property at the time of such entry; and b. To enjoin any activity on or use of the Conservation Area that is inconsistent with this Conservation Easement and to enforce the restoration of such areas or features of the Conservation Area that may be damaged by any inconsistent activity or use; and a To enter upon the property of the Grantor to connect the Conservation Area to a bona fide system of trails, greenways or other non-vehicular system. 3. Prohibitgd Uses. Except for exotic vegetation reznoval, replanting with appropriate native vegetation, vine control, removal of trash and debris or other mai.ntenance and monitoring activities described herein that are permitted or required by the Resolution or the Management Plan, the following activities are prohibited in or on the Conservation Area: a. Construction or placing of buildings, roads, signs, billboazds or other advertising, utilities, or other structures on or above the ground; b. Dumping or placing of soil or other substance or material as landfill, or dumping or placing of trash, waste, or unsigt2tly or offensive materials; c. Removal or destruction of trees, shrubs, or other vegetation, except far the removal of exotic or nuisance vegetation in accordance with the Management Plan; d. Excavation, dredging, or removal of loam, peat, gravel, soil, rock, or ather material substance in such manuer as to affect the surface; e. Surface use except for purposes that pennit the land or water area to remain in its natural or enhanced condition; f. Activities detrimental to drainage, flood control, water conservation, erosion control, soil conservation, or fish and wildlife habitat preservation including, but not limited to, ditching, diking and fencing. WPB 381,741,367v7 i2H212007 2 4. Grantor's Reserved Rights. Grantor reserves a'll rights as owner of the Property, including the right to engage in uses of the Conservation Area that are not prohibited herein and which are not inconsistent with any Counry rule, criteria, permit and the intent and purposes of this Conservation Easement. 5. No Dedication. No right of access by the general public to any portion of the Property or the Conservatian Area is conveyed by this Conservation Easement, except as provided in Paragraph 2(c), above. 6. Grantee's Liabilitv. Grantee shall not be responsible for any costs or liabilities related to the operation, upkeep ar maintenance of the Conservativn Area. 7. Acts Bevond Grantor's Contrsl. Nothing contained in this instrument shall be construed to entitle Grantee to bring any action against Grantor for any injury to or change in any portion of the Property other than Conservation Areas that result from natural causes beyond Grantor's control, and not initiated by the Grantor, including but not limited to fire, flood, storm azid earth movement. Should any Conservation Area be injured or changed from natural causes, including but not limited to fire, flood, storm and earth movement, the Grantor shall be provided notice and a reasanable opportunity to restore the affected Conservation Area to a condition that satisfies the Management Plan requirements prior to the Grantee bringing any action for nancompliance with the Resolution or the Management Plan. 8. Pronertv Taxes. Grantor shall keep the payment of taxes and assessments on the Conservation Area. cunent and shall not allow any lien on the Conservation Area superior to this Easement. In the event Grantor fails to extinguish ar obtain a subordination of such lien, in addition to any other remedy, the Grantee raay, but shall not be ~bligated to, elect to pay the lien on behalf of the Grantor and Grantor shall reimburse Grantee for the amount paid by the Grantee, together with Grantee's reasonable attomey's fees and costs, with interest at the maximum rate allowed by law, no later than tlurty days af~er such payment. In the event the Grantor does not so reimburse the Grantee, the debt owed to Grantee sha11 constitute a lien against the Conservation Area wluch shall automatically relate back to the recording date of this Easement. Grantee may foreclose this lien on the Conservation Area in the manner provided for mortgages on reai property. 9. Enforcement bv Grantee. Enforcement of the terms, provisions and restrictions of this Conservation Easement shall be at the reasonable discretion of Grantee, and any forbearance on behalf of Grantee to exercise its rights hereunder in the event af any breach hereof by Grantor or the Association, sha11 not be deemed or construed to be a waiver of Grantee's rights hereunder. 10. Enforcement bv Associatlon. The Association shall take private enforcement action agai.nst any member of the Association who violates the rules relating to the use and maintenance of the Conservation Area as set forth in the Management Plan. 11. iV~aintenance Obligations of Assaciation. The Association sha11 maintain in perpetuity, the Conservation Area in accordance with the Management Plan. Such maintenance sha11 include, but is not limited to, exotic vegetation removal, replanting with appropriate native wPe as~. ~a~,~~ 1ai~noo~ 3 vegetation, vine control, and removal of trash and debris. The maintenance schedule shauld be so as to keep the Conservation Area ecologically functional and high quality, as well as a rninimum 90% free of exotic vegeta.tion. 12. Assisnment. Grantee will hold this Conservation Easement exclusively for conservarion purposes. Grantee will not assign its rights and obligations under this Conservation Easement except to another organization or entity qualified to hold such interests under the applicable state laws. 13. Severabilitv. If any provision af this Conservation Easement or the application thereof to any person or circumstarices is found to be invalid, the remainder of the provisions of this Conservation Easement sha11 not be affected thereby, as long as the purpose of the Conservation Easement is preserved. 14. Terms and Restrictions. Grantor shall insert the terms and restrictions of this Conservation Easement in any subsequent deed or other legai instrument by which Grantor divests itself of any interest in the Property. 15. Written Notice. All notices, consents, approvals or other coxnmunications hereunder shall be in writing and shall be deemed properly given if sent by United. States certified mail, return receipt requested, addressed to the appropriate party or successor-in-interest. 16. Modifications. This Conservation Easement may be amended, altered, released or revoked only by written agreement between the parties hereto or their heirs, assigns or successors-in-interest, which shall be filed in the public records in St. Lucie County. 17. ~~guishment. If circumstances arise in the future such as render the purpose of this Easement impossible to accomplish, this Easement can only be terminated or exringuished, whether in whole or in part, by judicial proceedings in a court of competent jurisdiction, and the amount of the proceeds to which Grantee shall be entitled, after the satisfaetion of prior claims, from any sale, exchange or voluntary conversion of all or any portion of the Property subsequent to such termination or extinguishment, shall be determined, unless otherwise provided by Florida law at the time, in accordance with paragraph 18. Grantor believes that any changes in the use of neighborin$ properties will increase the benefit to the public of the contiuuation of this Easement, and Grantor and Grantee intend that any such changes shall not be deerned to be circumstances justifying the termination or extinguishment of this Easement. In addition, the inability of Grantor to conduct or implement any or a11 of the uses allowed under the terms of tlus Easement, or the unprofita.bility of doing so, sha11 not impair the validity of this Easement or be considered grounds for its termination or extinguishment. 18. Proeeeds. This Easement constitutes a real property interest immediately vested in Grantee, which, for the purposes of paragraph 17, the parties stipulate to have a fair market value detercnined by multiplying the fair market valae of the Property unencumbered by the Easement (minus any incrsase in value after the date of this grant attributable to improvements) by the ratio of the value of the Easement at the time of this grant to the value of the Property, without deduction for the value of the Basement, at the time of this grant. For the purposes of wr~e ss~, ~at,ss~v~ ial2rzoa~ q this paragraph, the ratio of the value of the Easement to the value of the Property unencumbered by the Easement shall remain constant. TO HAVE AND TO HOLD unto Grantee forever. The cavenants, tenms, conditions, res~rictions and purposes imposad with this Conservation Easement shall be binding upon Crrantor, and shall continue as a seivitude nuu~ing in perpehrity with the Properly. Grantor hereby covenants with said Grantee that Grantor is lawfully seized of said Property in fee simple; that the Property is free and clear of all encurnbrances that are inconsistent with the terins of this Conservation Easement; and a11 mortgages and liens have been subordinated to ttus Conservation Easem~nt; and that Grantor has good right and lawful authority to canvey this Conservation Easement; and that it hereby fu11y warrants and defends the title to the Conservation Easement hereby conveyed against the lawful claims of aIl persons whomsoever. wPe aar,~a~,ss~v~ i~zrz~oo~ 5 MORTGAGEE JOINDER, CONSENT AND SUBORDINATION For Ten Dollars ($10.00) and other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, XXX ("Mortgagee"), the owner and holder of an Arnended and Restated Commercial Mortgage recorded ~~, in the original principal amount of $XXX given by XXX encumbering the real property described on Exhibit "A" attached hereto Property"), which is recorded in Of~icial Records Book X~~, at Page XXX, (together with that certain Assignment of Rents and Leases recorded in Official Records Book XXX, at Page XXX and that certain Amendment to UCG1 Financing Statement recorded in Offieial Records Book XXX, at Page XXX), all af the Public Records of St. Lucie County, Florida (said mortgage, assignment of leases and rents, and UCC-1 Financing Statements, as modified, are hereinafter referred to as the "Mortgage"), hereby joins in, consents to and subordinates the lien of its Mortgage, as it has been, and as it may be, modified, amended and assigned from time to time, to the foregoing Conservation Easement, executed by XXX, in favor of St. Lucie County applicable to the Property ("Easement"), as said Easement may be modified, amended and assigned from time to time, with the intent that the Mortgage shall be subject and subordinate to the Easement. IN WITNESS WHEREOF, this Mortgagee Joinder, Consent and Subordination is made this day of , 2007. Mortgagee: XX~~ By: Print Name: Tide: WITNE5SES: By: Print Name: _,,. By: Print Name: wPe sai, ra~,3sn~~ rvi2rla~o~ ~ EXHIBIT ~B" DE5CRIPTION OF CONSERVATION AREA] wPe as~, ~4r,387v71?112120U7