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Home My WebLink AboutLand Use Restriction Agreement 06/30/2025 Doc#27506359 Bk#3333 Pg#682 Recorded 6/3)0/20214.5 41-34 PM Page 1 of 7 THIS INSTRUMENT PREPARED Deed Doc Stamp$0.00 BY AND RETURN TO: Filed and Recorded in 0fficial Records Of MONROE COUNTY KEV N MADOIC,CPA Gregory S.Oropeza,Esq. Oropeza,Stones&Cardenas,PLLC 221 Simonton Street Key West,Florida 33040 305.294.0252 LAND USE RESTRICTION AGREEMENT POINCIANA APARTMENTS 95295 OVERSEAS HIGH"' AY9 KEY LARGO,FLORIDA 33047 PARCEL ID NUMBER 00484390-000000 THIS LAND USE RESTRICTION AGREEMENT (hereinafter "Agreement") is made and entered into as of the :&)*day of tWet...........................-, 2025, by MONROE COUNTY, FLO RIDA (hereinafter"Grantor"or"County"), and their respective successors and assigns. RECITALS A. This Agreement pertains to a portion of real property located in Key Largo,Florida bearing Parcel Identification Number 00484390-000000, as the eleven (11) units depicted on Exhibit "A" located on the real property as more particularly described in Exhibit "B' attached hereto and incorporated herein (the"Property"). B. In accordance with Monroe County Resolution No.229-2025,the County approved financing in the amount of Six Million Eight Hundred Sixty-Seven One Hundred and 00/100 Dollars ($6,867,100.00) for the purpose of development of affordable housing on the Property. C. As a condition of extending financing to Grantor for development of affordable housing on the Property, Grantor has agreed the subject Property shall comply with the affordable housing requirements specified herein. NOW, THEREFORE., in consideration of the mutual covenants and undertakings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,the County and Grantor do hereby contract and agree as follows: ARTICLE I COMPLIANCE WITH THE MONROE COUNTY AFFORDABLE TOURISM HOUSING PROGRAM RE LTIREMENTS In order to comply with the County's requirements pursuant to Monroe County Resolution 544-2024, Grantor hereby covenants and agrees as follows: Page 1 of 5 1.01 The restrictions contained in this Land U-se Restriction Agreement (LURA) shall not its expire, shall run with the Subject Property and shall be binding upon the Grantor, successors or assigns for a period of not less than ninety-nine(99)years. 1.02 1Jse of the Subject Property shall be restricted to the provision of affordable housing for households whose income does not exceed the affordable income limitations of s. 420.0004, Florida Statutes.. Nothing herein shall preclude the Grantor or any other entity *d*iig affordable housing on the Subject Property from setting more restrictive 'income provi I limits than those imposed by this Agreement.If Florida Statutes setting income limitations for affordable housing are amended from home to time, Grantor shall have the ability to utilize any portions of the Statute thereby amended, which may be less restrictive. 1.03 Use of the Subject Property shall be further restricted to qualified employees of Private Sector Tourism-Related Businesses who meet the affordable income qualifications in this LURA and who possess no ownership interest in a residential property in Monroe County or the contiguous counties of Miami*-Dade and Collier counties. 1.04 Private Sector Tourism-Relaled Businesses shall mean Private Sector Tourism-Related Businesses shall mean those businesses physically located and operating within Monroe yy County, and who fall within one (1) or more of the following 2022 North American Industry Classification System (NAICS) Categories,,. 1. Sector 71. Arts, Entertainment, and Recreation. 2. Sector 72. Accommodation and Food Services. 3. Subsector 487 of Sector ation 48-49 Scenic and Sightseeing Transport . . 0 1.05 Grantor i's responsible for ensuring compliance with the restrictions in this LURA and expressly agrees to furnish,upon the County's request, written certification thereof. ARTICLE 11 CONSIDERATION In addition to other purposes,the Grantor has received County funding for the purchase of the Subject Property as an inducement to the Grantor to restrict use of the Subject Property to affordable housing for the term specified in Article 1'. In consideration of said funding for the foregoing purposes,the Grantor has executed thi's Agreement. ARTICLE III RELIANCE In performing its duties hereunder, the County may rely upon statements and certificates � 0 of fieved to be genuine and to the Grantor its tenants, and the residents of the Subject Property be 1 have been executed by the proper person or persons, and upon audits of the books and records of the Grantor pertaining to occupancy of the Subject Property. ARTICLE IV Page 2 of 5 TERM This Agreement shall become effective upon its execution and delivery and shall remain in full force a nd effect without expiration,unless modified by mutual written consent of the parties. ARTICLE V ENFORCEMENT If the Grantor defaults in the performance of its obligations under this Agreement or breaches any material covenant, agreement or warranty of the Grantor set forth in this Agreement, and if such default remains uncured for a period of thirty (30) days after written notice thereof shall have been given by the County to the Grantor, then the County or its designee may take any action at law or in equity or otherwise to address said default(s). However, 'if the default stated in such notice can be corrected, but not within the thirty (30) day period, and if the Grantor adopts a plan to correct or cure the default and commences the correction within the thirty (30) day period (subject to any rights of tenants in possession of units under a valid lease agreement),and thereafter diligently pursues the same to completion within. such extended period, the County shall not have waived its right of enforcement if the default remains uncured after the expiration of the extended cure period. ARTICLE VI RECORDING AND FILING; COVENANTS TO RUN WITH THE LAND 6.01. Upon execution the Grantor shall cause this Agreement and all amendments and supplements hereto to be recorded and filed in the official public records of Monroe County and shall pay all fees and charges incurred in connection therewith. 6.02 This Agreement and the covenants contained herein shall run with the land and shall bind, and the benefits shall inure to, respectively, the Grantor and the County and their respective successors and assigns during the term of this Agreement. ARTICLE VII GOVERNING LAW phis Agreement shall be governed by and construed in accordance with the laws of the State of Florida, with respect to both substantive rights and with respect to procedures and remedies. ARTICLE V111 NOTICE AND EFFECT All notices and other communications to be made or permitted to be made hereunder shall be in writing and shall be delivered to the addresses shown below or to such other addresses that the parties may provide to one another in accordance herewith. Such notices and other communications shall be given by any of the following means: (a)personal service or(b)national express air courier, provided such courier maintains pro er main ins written verification of actual delivery. Any 01 Page 3 of 5 notice or other communication given by the means described in subsection (a) or (b) above shall be deemed effective upon the date of receipt or the date of refusal to accept delivery by the party to whom such notice or other communication has been sent. Grantor: Monroe County 1100 Simonton Street Key West, Florida 33040 Attention: County Administrator Monroe County: Monroe County 1100 Simonton Street Key West, Florida 33040 Attention: County Administrator Monroe County Office of County Attorney I I I I 12t" Street, Suite 408 Key West, Florida 33040 Attention: County Attorney Any part),may change said address by giving the other parties hereto notice of such change of address in accordance with the foregoing provisions. ARTICLE IX MISCELLANEOUS 9.01, If any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining portions shall not in any way be affected or impaired. 9.02. This Agreement may be simultaneously executed in multiple counterparts, all of which shall constitute one and the same instrument and each of which shall be deemed to be an original. Page 4 of 5 SIGNATURE PAGE TO LAND USE RESTRICTION AGREEMENT 95295 OVERSEAS HIGHWAY9 KEY LARGO,FLORIDA 33047 PARCEL ID NUMBER 00484390-000000 IN WITNESS WHEREOF, the County and the Grantor have caused this Agreement to be signed, sealed and attested on their behalf by duly authorized representatives, all as of the date first set forth above. WITNESSES: MONROE COUNTY, FLORIDA 111111110) u* uuW 11111110) Lie, Print: A�_LL ........ .F f4, Address: 111111 O'do,11 10 Ike) ................... Pie By: 4 Iyor James K. Scholl Print:"."' 111,7 Address: Le 112 72, IL Address: 1100 S imonton Street K "W'est, FL 33040 Approved as to form and legality Digitally signed by Jeni-Lee Jeni-Lee V, MacLaughlin MacLaughlin Date:2025.0 6.30 16:19:08-04'00' .......... Cc • 10 Jeni-Lee MacLaughlin Assistant County Attorney 1 4; STATE OF FLORIDA COUNTY OF MONROE The foregoing instrument was acknowledged before me by means of physical presence this 30 � day of June, 2025 by James K. Scholl, as Mayor of MONROE COUNTY, Florida. Said I 1 person is personally known to me or has produced a valid drivers license as 'den 116-01 MINIMUM! ................ Lit 6*,.» Y.r YONGUE Notary R lic- State of Florida ij 110 LIZ MY COMMISSION#HH 474082 Print Name-, 'Zf;)2o 9 EVIR ES:April 15,2028 A- 0 Ct 11 IS'My Commission Exp1-es:* My Commission No.: Page 5 of 5 AL#2390470 Page Npmkr,,14 of 25 BUMNO#4 zms 2mm uNrrsl&2 uNffs U2 ORM 13 20VM 2W23 :" � � r UNffStZj&4 2 BED 2S BA" WW 10H Mom %SOWNsir ILDINGS BURDINGO IBM IBEDIBAU Dim LIM IN A LOS I&2 ESOMMMR4. 202SBATH 2BED231AIN ON MEWX I[%".......... mom 71 ..I..I..... wow ................. RA 10 dr 0" juUXKG#2 UOSU14 LMl&2 Dw"x "Ws 202SBAT La MMA Elms#1 N=B 11544% u9m I Ups IZ3014 Oormliga* []WTI eq. LOAN ts". 3 BED,S BATH ME � ��,��m��m��ma� ��mMMmMMm MIMMMMMM .................. ...................... Y 'M YWNI� w.i mmm ............. ........... M PLAN EXH151T. A Exhibit B Lots I and 2,Block 1,REVISED PLAT OF SUNFJSE POINT,according to the plat thereof,as recorded In Plat Book 3,Page I I,of the Public Records of Monroe County,Florio-01 a. AND The Northwesterl 720 feet of the following described parcel of land:A portion of Tract 6,according to the Plat of y Southcliff Estates on Key Largo and recorded in Plat Book 2,Page 45,of the Public Records of Monroe County, Florida,more particularly described as follows:From a P.R.1%L at the intersection of the Southeasterly rightoof-way line of State Road No,5 on the Agreed Boundary Line between Southeliff Estates and K.L.Thompson Property,,as shown on Plat recorded in Plat Book 2,Page 67,of the Public Records of Monroe County,Florida,run Southeasterly on said Agreed Line.,a distance of 66 feet to the Southeasterly right-of-way lit-of-way line of Old State Road 4A;thence Southwesterly along said Southeasterly right-of-way line,a distance of 330 feet to the Point of Beginning of the parcel hereinafter described;thence continue Southwesterly on last described course,a distance of 100 feet to the Northeasterly side of the subdivision of Sunrise Point,according to the Revised Plat recorded in Plat Book 3,Page 11, of the Public Records of Monroe County,Florida;thence along said Northeasterly side of Sunrise Point in a Southeasterly direction,a distance of 1065 feet,more or less to the shore of the Atlantic Ocean;thence Northeasterly meandering said shore to a point of intersection with a line which is 100 feet Northeasterly from and parallel to the said Northeasterly side of Sunrise Point;thence Northwesterly along said line to the Point of Beginning. Parcel Identification Number: 00484390-000000 File Number:24-606