Loading...
HomeMy WebLinkAboutAggarwal Pension Trust Fund -2004 07 26 " '\ - I , This instrument prepared by and should be returned to: Anthony A. Garganese, Esq. City Attorney of Winter Springs Brown, Salzman, Weiss, & Garganese, P.A. POBox 2873 Orlando, FL 32802-2873 BINDING DEVELOPMENT AGREEMENT THIS BINDING DEVELOPMENT AGREEMENT is made and executed this day of June 2004, by and between the CITY OF WINTER SPRINGS, a Florida municipal corporation ("City"), whose address is 1126 East S.R. 434, Winter Springs, Florida 32708, and AGGARWAL PENSION TRUST FUND ("Aggarwal"), whose address is 1056 Edmiston Place, Longwood, Florida 32779. WITNESSETH: WHEREAS, Aggarwal is constructing an addition to Village Market Place Shopping Center located within the City of Winter Springs, Florida, consisting of the following: (a) Construction of an additional 27,000 square foot building; (b) Inclusion of additional landscaping, re-stripping, paved curbs and adding green area to parking lot. (c) Adding of new lighting; and WHEREAS, AGGARWAL, as part of the construction as set forth above, has agreed that the town center image for Winter Springs will be retained consistent with the beautification corridor located within the City; and WHEREAS, pursuant to the site plan approval of the City of Winter Springs City Commission on the day of , 2004, Aggarwal desires to facilitate the orderly addition to the existing shopping center (the "SHOPPING Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 1 of 9 ;- CENTER') on the subject property (defined in Section 3 below) as depicted in the site plan. Said site plan is on file with the City Clerk's office and is hereby fully incorporated herein by this reference ("the Site Plan") in compliance with the laws and regulations of the City; and WHEREAS, the City Commission has recommended entering into a Binding Development Agreement ("Agreement") with Aggarwal for the addition to the Village Market Place Shopping Center; and WHEREAS, in addition to Aggarwal's compliance with all City codes, permitting and construction not in conflict herein, the City and Aggarwal desire to set forth the following special terms and conditions. NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties mutually agree as follows: Section 1. Recitals. The foregoing recitals are hereby incorporated herein by this reference. Section 2. Authority. This Agreement is entered into pursuant to the Florida Municipal Home Rule Powers Act and Section 20-490 of the City of Winter Springs Code. Section 3. Subiect Property. The real property ("Subject Property") which is subject to, and bound by, the terms and conditions of this Agreement is legally described on Exhibit "A" attached hereto and made a part hereof by reference. Section 4. Representations of Aaaarwal. Aggarwal hereby represents and warrants to City that Aggarwal has the power and authority to execute, deliver and perform the terms and provisions of this Agreement and has taken all necessary action to authorize the execution, delivery and performance of this Agreement. This Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 2 of 9 ,. Agreement will, when duly executed and delivered by Aggarwal and recorded in the Public Records of Seminole County, Florida, constitute a legal, valid and binding obligation enforceable against Aggarwal and the Subject Property in accordance with the terms and conditions of this Agreement. Aggarwal represents it has voluntarily and willfully executed this Agreement for purposes of binding the Property to the terms and conditions set forth in this Agreement. Section 5. Obliaations and Commitments. In consideration of the City and Aggarwal entering into this Agreement, the City and Aggarwal voluntarily agree as follows: a) Buffer Wall. Aggarwal shall construct a buffer and wall in compliance with Section 20-469 Buffers and Walls, Winter Springs Land Development Code. However, in accordance with the variance authority set forth in Section 20-490 of the City Code, Aggarwal shall be permitted to eliminate 435 linear feet of the required 6 foot (measured from grade level) CMU wall along the northwest property line of the Subject Property. Additionally, Aggarwal shall be excused from placing any required buffer between the existing retention pond located on the adjacent multi-family property and the retention ponds on the Subject Property. b) Tree Ordinance. Aggarwal shall comply with the requirements of the City's Arbor Ordinance contained in Chapter 5 of the City Code, and the landscape requirements for the S.R. 434 Redevelopment Area set forth in Section 20-480 et seq. of the City Code, as said codes may be amended from time to time. In accordance with the variance authority set forth in Section 20-490 of the City Code, Aggarwal shall be permitted to utilize canopy trees with a height of 12 feet rather than the required 16 feet Binding Development Agreement. City of Winter Springs - Aggarwal Pension Trust Fund 3 of 9 ; " in height under Table 2 of the recommended tree pallet for the S.R. 434 Redevelopment . Area. c) Sian. Pursuant to Section 20-470(18) of the City Code and in conjunction with the construction of the additional 32,000 square foot (gross area) building, Aggarwal agrees to bring all exterior signage on the Subject Property into compliance with the S.R. 434 Redevelopment sign requirements set forth in Section 20- 470 of the City Code. Aggarwal will remove the existing non-conforming pole sign and be permitted to install two monument signs under a separate permit that would conform with the SR 434 redevelopment standards set forth in the City Code, i.e., 10 feet set back from property line, 14 feet high, 48 sq. ft. copy area with a minimum distance of 200 feet between them. The Code requires a frontage of 500 feet, and even though Aggarwal has a frontage of 460 feet, they will be permitted to construct the two new signs. Planters shall be installed at the base of the new sign per the City's requirements. Section 6. Successors and Assigns. This Agreement shall automatically be binding upon and shall inure to the benefit of the successors and assigns of each of the parties. Section 7. Applicable Law. This Agreement shall be governed by and construed in accordance with the law$ of the State of Florida. Section 8. Amendments. This Agreement shall not be modified or amended except by written agreement duly executed by both parties hereto and approved by the City Commission. Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 4 of 9 \ ' i Section 9. Entire Aareement. This Agreement supersedes any other agreement, oral or written, and contains the entire agreement between the City and Aggarwal as to the subject matter hereof. Section 10. Severability. If any provision of this Agreement shall be held to be invalid or unenforceable to any extent by a court of competent jurisdiction, the same shall not affect in any respect the validity or enforceability of the remainder of this Agreement. Section 11. Effective Date. This Agreement shall become effective upon approval by the City of Winter Springs City Commission and execution of this Agreement by both parties, Section 12. Recordation. This Agreement shall be recorded in the public records of Seminole County, Florida, and shall run with the land. Section 13. Relationship of the Parties. The relationship of the parties to this Agreement is contractual and Aggarwal is not an agent of the City. Nothing herein shall be deemed to create a joint venture or principal-agent relationship between the parties, and neither party is authorized to, nor shall either party act toward third parties or to the public in any manner which would indicate any such relationship with the other. Section 14. Sovereian Immunity. Nothing contained in this Agreement shall be construed as a waiver of the City's right to sovereign immunity under ~768.28, Florida Statutes, or any other limitation on the City's potential liability under State and Federal law. Section 15. City's Police Power. Aggarwal agrees and acknowledges that the City hereby reserves all police powers granted to the City by law. In no way shall this Agreement be construed as the City bargaining away or surrendering its police powers. Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 5 of 9 " Section 16. Interpretation. The parties hereby agree and acknowledge that they have both participated equally In the drafting of this Agreement and no party shall be favored or disfavored regarding the interpretation to this Agreement in the event of a dispute between the parties. Section 17. Permits. The failure of this Agreement to address any particular City, County, State and Federal permit, condition, term or restriction shall not relieve Aggarwal or the City of the necessity of complying with the law governing said permitting requirements, conditions, term or restriction. Section 18. Third Party Riahts. This Agreement is not a third party beneficiary contract and shall not in any way whatsoever create any rights on behalf of any third party. Section 19. Specific Performance. Strict compliance shall be required with each and every provision of this Agreement. The parties agree that failure to perform the obligations provided by this Agreement shall result in irreparable damage and that specific performance of these obligations may be obtained by suit in equity. Section 20. Attorney's Fees. In connection with any arbitration or litigation arising out of this Agreement,the prevailing party shall be entitled to recover reasonable attorney's fees and costs through all appeals to the extent permitted by law. Section 21, Development Permits, Nothing herein shall limit the City's authority to grant or deny any development permit applications or requests subsequent to the effective date of this Agreement. In addition, nothing herein shall be construed as granting or creating a vested property right or interest in Aggarwal or on the Subject Property. Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 6 of 9 IN WITNESS WHEREOF, the parties have hereunto set their hands and seal on the date first above written. Witnesses: ~.. Ccv~e'l\ ~ G ~ rc.tCl Witness #1 Printe Name CITY OF WINTER SPRINGS, a Florida Mun . . I Corporation ~~ .. . ~ .' --'~ F. BUSH, Mayor Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 7 of 9 STATE OF FLORIDA COUNTY OF SEMINOLE I hereby certify that on this day, before me, an officer duly authorized to administer oaths and take acknowledgments, personally appeared KULDEEP AGGARWAL, as Trustee of the AGGARWAL PENSION TRUST FUND, known to me to be the person described in and who executed the foregoing instrument, who acknowledged before me that he executed the samj' and that I relied upon the following identification of the above-named person: iuJ eef A3~rvJ 0-1 . Witness my hand and official seal in the County and State last aforesaid this day of April 2004. NOTARY STAMP/SEAL "p'~v:'f~?;" JOSEPH BARR i:~A'~*\ MY COMMISSION # DO 251669 \~;.."....~\1 EXPIRES: September 18, 2007 "",9~.r';\"<i' Bonded Thru Notary Public Underwriters .. .'. ~ Binding Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 8 of 9 .~ ' f . ' . STATE OF FLORIDA COUNTY OF SEMINOLE I hereby certify that on this day, before me, an officer duly authorized to administer oaths and take acknowledgments, personally appeared JOHN F. BUSH, Mayor of the City of Winter Springs, known to me to be the person described in and who executed the foregoing instrument, who acknowledged before me that he executed the same, and that I relied upon the following identification of the above-named person: John F. Bush , Witness my hand and official seal in the County and State last aforesaid this 26th day of July ,2004. NOTARY STAMP/SEAL IfJd~ Notary Signature My Commission Expires: '~' Debra C. Franklin \; . My CommiSSion D02t2IT1 or,.'.I Expires Februll/Y 22. 2008 Bindihg Development Agreement City of Winter Springs - Aggarwal Pension Trust Fund 90f 9