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authorities, and the Owner desires to ensure that its development is compatible with other <br />properties in the area and planned traffic patterns; and <br />WHEREAS, the development permitted or proposed under this Agreement is consistent <br />with the City's Comprehensive Plan, concurrency management system, and all land development <br />regulations and this Agreement does not replace, supersede, or grant variances to those <br />regulations; and <br />WHEREAS, it is the purpose of this Agreement to clearly set forth the understanding <br />and agreement of the parties concerning the matters contained herein; and <br />WHEREAS, the City adopted Ordinance 16-1437, rezoning the Subject Property to a <br />planned mixed-use (PMX-HIGH) district, as defined under the City's Unified Land <br />Development Regulations (ULDRs). The Owner has sought the City's approval to develop the <br />Subject Property, and the City subsequently adopted Ordinance 21-1555 on <br />2a2_1 The PUD zoning ordinance shall consist of this Agreement and its <br />attachments, including an Exhibit "B", Concept Plan, attached hereto and by this reference <br />made a part hereof. The Concept Plan shall be subject to the covenants, restrictions, and <br />easements offered by the Owner and those contained herein. Where more detailed criteria for <br />City required submittals imposed in this Agreement or the ULDRs exceed the criteria required <br />for a Concept Plan, the more detailed criteria shall apply; and <br />WHEREAS, this Agreement is not a statutory development agreement under Fla. Stat. <br />163.3220, et seq., and Article III of the City's Unified Land Development Regulations, but is <br />authorized by the City's Home Rule Power, the City Charter, and other controlling laws, and the <br />City's police powers, and is required for a planned unit development. <br />NOW THEREFORE, in consideration of the mutual covenants and agreements <br />contained herein, and other good and valuable consideration, the receipt and sufficiency of which <br />is hereby acknowledged, the parties hereto agree as follows: <br />1. Recitals and Definitions. The recitals herein contained are true and correct and <br />are incorporated herein by reference. All capitalized terms not otherwise defined herein shall be <br />as defined or described in the City's Unified Land Development Regulations as it may be <br />amended from time to time, unless otherwise indicated. <br />2. Ownership. The legal and equitable owners of the Subject Property are: New <br />Earth Properties, LLLP and their assigns. <br />3. Title Opinion/Certification/Authority to Sign. The Owner will provide to the <br />City, in advance of the City's execution and recordation of this Agreement, a title opinion from a <br />licensed attorney in the state of Florida, or a certification by an abstractor or title company <br />authorized to do business in the state of Florida, verifying marketable title to the Subject <br />Property to be in the name of the Owner and any and all liens, mortgages, and other <br />encumbrances. The Owner represents and warrants that it has the power and authority to enter <br />into and consummate the terms and conditions of this Agreement; that all acts, approvals, <br />2 <br />