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Book 9182 Pagge 708 <br />Instrument# 2Q18087497 <br />WHEREAS, the Developer will apply to change the land use, for all the Property <br />and the Park to Medium Density Residential, to rezone the Property and the Park to <br />Planned Residential Development District (PRD) and to replat and develop the Property <br />and the Park into two lots with a common access roadway and memorialize the various <br />conditions, development standards and other obligations agreed to by the Parties <br />herein, although the Park will remain a public park. <br />NOW THEREFORE, in consideration of the above premises, the promises and <br />provisions contained herein and other good and valuable consideration, the receipt and <br />sufficiency of which is hereby acknowledged, the City and Developer agree as follows: <br />1. Incorioration of Recitals. The foregoing recitals are true and shall be and <br />are hereby incorporated into and made a part of this Agreement, <br />2. Conceptual Plan. The parties acknowledge that eleven separate real <br />estate parcels, streets and ditches are to be replatted into two (2) dedicated lots <br />consisting of 5.5 acres. The City will continue to own the Park (City Park, Lot 1) and the <br />Developer will continue to own the Property (Lot 2) for development of the ALF. The <br />Developer will follow City design guidelines in the development of the Project on the <br />Property as generally depicted on the Conceptual Plan, attached hereto as Exhibit "B," <br />("Conceptual Plan'), so long as development proceeds in accordance with the City's <br />Comprehensive Plan and Code, as amended from time to time, and any subsequently <br />required permits and approvals. <br />3. Commitments. The conditions and commitments made in this Agreement, <br />all of which have been accepted by and agreed to by the City and the Developer, are as <br />follows: <br />A. If the Conceptual Pian is approved by the City in accordance with law, <br />Developer will build a single building of up to six stories in height, containing up to 70 <br />individual suites/units, compliant with all applicable City Codes, the comprehensive <br />plan, the Unified Land Development Regulations and building codes. <br />B. Upon. issuance of a building permit for the ALF, Developer agrees <br />to pay a minimum of $135,000.00 to the City of Casselberry to be used for improvement <br />of the Park as the City sees fit and in its sole discretion. The Park will remain a public <br />park open the hours and days prescribed by City Code and Park Rules. <br />C. The Developer agrees to provide the City supporting information <br />regarding ALF traffic generators, utility usage information, impact fee calculations for <br />water, sewer, transportation and related development calculations, and agrees to pay <br />the associated impact fees for the development of this Project in accordance with City <br />Code. A certified traffic study and .historical utility usage report will be submitted and <br />verified by the City to calculate actual traffic impacts and utility consumption fees. <br />Page 2 <br />