18-3020 Approving Agreement for Educational System Impact Fees Only with Concord Development LLC

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T'ownhome/Condominitirrt.")t.tple,� residential Dwelling Unit and $2,100 per multifamily unit, are deemed vested fi)r the entire project (not to exceed 384 multifamily dwelling units) so long as Owner complies with the timelines in subsection (b) below. b. Such rates outlined in subsection (a) above shall apply to the entire building so long as a building permit for the building is obtained within one year of the date the City Commission approves this Agreement. If Owner does not receive a building permit within that year, this Agreement will be automatically revoked without further action by the parties. If a building permit is not issued within the aforementioned one year period and the Owner still proceeds with constructing the project, then. the Owner would be required to pay the Educational System impact fees in effect after April 10, 2018. C. Further, the Owner commits that the project to be constructed on the Property consists of multiple buildings designed with a common theme and common infrastructure to include access roads, landscaping, drainage and similar improvements. d. This Agreement grants Owner vested rights only for the payment of the Educational System Impact Fees, and for no other purpose. 3. Further Assurances. In addition to the acts recited in this Agreement, the City and Owner agree to perform or cause to be performed any and all further acts as may be reasonably necessary to implement the provisions of this Agreement, including the execution and recordation of any development agreements that will be recorded and run with the land. 4. Limitation of Remedies. Owner and the City hereby agree not to pursue an award of monetary damages for a breach of or non-performance of this Agreement. The only remedies available against the non-performing party shall be either to withhold further performance under the Agreement until the non-performing party or paries cure the non-performance or to seek a court order form the Circuit Court of the 18t" Judicial Circuit in and for Seminole County, Florida requiring the non-performing party to fulfill its obligations under the Agreement. However, nothing in this Agreement shall be construed to limit the right of either Owner or the City to pursue any and all remedies, if any, under tort or constitutional law related to a party's nonperformance Linder the Agreement. 5. Notices. All notices, requests and other communications hereunder shall be in writing and shall be deemed given in the following circumstances: when personally delivered; or three (3) business days after being deposited in the United States Mail, postage prepaid, certified or registered; or the next business day after being deposited with a recognized overnight mail or courier delivery service; or whentransmitted by facsimile or telecopy transmission, with receipt acknowledged upon transmission; and addressed as follows (or to such other person or at such other address, of which any party hereto shall have given written notice as provided herein): If to City: City of Casselberry 0215049\178377\5801067x5