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procedures and similar matters required in order to authorize this Agreement have been taken, <br />obtained and followed; that this Agreement and the proposed performance of this Agreement is <br />not an ultra vires act; and that, upon execution of this Agreement, this Agreement will be valid <br />and binding upon the parties and their successors. <br />4. Subordination/Joinder. Unless otherwise agreed to by the City and if applicable, <br />all liens, mortgages, and other encumbrances that are not satisfied or released of record must be <br />subordinated to the terms of this Agreement and the mortgage holder must join in this <br />Agreement. It shall be the responsibility of the Owner to promptly obtain the said subordination <br />and joinder, in form and substance that is acceptable to the City Attorney, prior to the execution <br />and recordation of this Agreement. <br />5. Duration. This Agreement is binding and runs with the land in perpetuity, unless <br />amended. If development is not commenced (i.e. obtaining a building permit) in accordance with <br />this Agreement and applicable law within 24 months from the Effective Date, this Agreement <br />will be null and void and the City will not be precluded or estopped from redesignating or <br />rezoning all or any portion of the Subject Property. The Owner may request an extension of this <br />Agreement through a request to City Commission after review and recommendation by the <br />Planning and Zoning Commission. <br />6. Development of the Subject Property. Development of the Subject Property <br />shall be subject to performance standards listed in this Agreement. Where a land use listed below <br />differs from a defined use in the City of Casselberry's Code of Ordinances, the use listed in this <br />Agreement shall prevail. <br />A. Comprehensive Plan Policies specific to this Subject Property: <br />Policy FLU 1.5, Policy FLU 1. 15, Policy FLU 1.22 <br />B. Permitted principal uses allowable on the Subject Property: <br />Multiple -family dwellings. <br />C. Permitted accessory uses allowable on the Subject Property: <br />Approved home occupations. <br />D. Conditional principal uses allowable on the Subject Property: <br />None. <br />E. Prohibited principal and accessory uses: <br />All uses not expressly listed as permitted or conditional uses within this Agreement. <br />F. Proposed maximum density (in number of dwelling units per acre), not to exceed the <br />maximum allowed under the future land use map designation: 30 dwelling units/acre. <br />G. Impervious surface is 90% and open space is 10% of the gross square footage for the <br />Subject Property. The impervious surface cannot exceed the maximum allowed under <br />the future land use map designation or PMX-HIGH zoning district. <br />3 <br />