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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 and <br />agreement of the parties concerning the matters contained herein; and <br />WHEREAS, the Owner has sought the City's approval to develop the Subject Property <br />through rezoning the Subject Property to a planned mixed-use (PMX-HIGH) district, as defined <br />under the City's Unified Land Development Regulations (ULDR), and the City adopted Ordinance <br />23 -15 81 on �1'1 Z.`� t 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 made <br />a part hereof. The Concept Plan shall be subject to the covenants, restrictions, and easements <br />offered by the Owner and those that are contained herein. Where more detailed criteria for City <br />required submittals exceed the criteria required for a Concept Plan, the more detailed criteria shall <br />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 />Recitals and Definitions. The recitals herein contained are true and correct and are <br />incorporated herein by reference. All capitalized terms not otherwise defined herein shall be as <br />defined or described in the City's Unified Land Development Regulations as it may be amended <br />from time to time, unless otherwise indicated. <br />2. Ownership. The legal and equitable owners of the Subject Property are: AGRE <br />Casselberry Owner, LLC and its 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 Property <br />to be in the name of the Owner and any and all liens, mortgages, and other encumbrances. The <br />Owner represents and warrants that it has the power and authority to enter into and consummate <br />the terms and conditions of this Agreement; that all acts, approvals, procedures and similar matters <br />required in order to authorize this Agreement have been taken, obtained and followed; that this <br />Agreement and the proposed performance of this Agreement is not an ultra vires act; and that, <br />upon execution of this Agreement, this Agreement will be valid and binding upon the parties and <br />Page 2 of 16 <br />