RESTRICTIVE COVENANTRESTRICTIVE COVENANT
(Grantee owns building, leases land.)
THIS RESTRICTIVE COVENANT is hereby entered into this
131-4" day of r-e..lavua,v'y , 20 J(--I , by City of
Clearwater, hereinafter referred to as "the Land Owner ";
Murray Studio Theatre at Ruth Eckerd Hall, hereinafter
referred to as "the Grantee;" and the State of Florida,
Department of State, Division of Cultural Affairs, hereinafter
referred to as the "Division ".
WHEREAS, the Land Owner is the fee simple title holder of the land located at
1111 N. McMullen Booth Road, Clearwater, Florida 33759 A legal description
of the subject property is attached as Exhibit A and is made a part of this covenant.
WHEREAS, the Grantee is the lessee of the land for 30* years but owns or
will own the building(s) used or to be used as a cultural facility. "Facility" refers
herein to the building(s) and associated land to be used as the "cultural facility," as
defined herein. *commencing on 3/7/2001 through 3/6/2031
WHEREAS, the Grantee has been approved to receive a Cultural Facilities
Grant in the amount of $500,000, to be administered by the Division and used
only for the acquisition, renovation, and construction of the cultural facility as
required by Section 265.701(1), Florida Statutes.
WHEREAS, the Division has authority under Section 265.701(4), Florida
Statutes, to require the recordation of this restrictive covenant to ensure that the
facility will be used as cultural facility, as defined herein, for at least ten (10) years
following execution of the grant award agreement.
NOW THEREFORE, in partial consideration for the Cultural Facilities Grant and
in accordance with Section 265.701(4), Florida Statutes, the Parties agree to the
following:
1.) This restrictive covenant shall run with the title to the facility and the
associated land, shall encumber them, and shall be binding upon the Grantee, the
Land Owner, and their successors in interest for the period of (10) ten years
following execution of the grant award agreement.
2.) The grant award shall only be expended for:
Project Title: Murray Studio Theatre at Ruth Eckerd Hall (14 -9006)
Page 1 of 8
3.) For the required duration of this covenant, the Parties
agree that the Grantee shall own all improvements to the
facility and to the associated land, funded in whole or in part
by grant funds
4.) The Division has the right to inspect the facility and the
associated land at all reasonable times to determine whether
the conditions of the agreement and this covenant are being
complied with.
5.) The facility shall be maintained as a "cultural facility," defined as a
building which shall be used primarily for the programming, production,
presentation, exhibition or any combination of the above functions of any of
the cultural disciplines, such as: music, dance, theatre, creative writing,
literature, painting, sculpture, folks arts, photography, crafts, media arts, and
historical and science museums."
6.) This restrictive covenant will be violated if the Grantee, the Land Owner, or
their successors in interest do not use or cease to use the facility as a cultural
facility, as defined herein, within ten (10) years following execution of the grant
award agreement as required by Section 265.701(4), Florida Statutes. If the
Grantee violates this restrictive covenant, it shall repay the grant funds to the
Division pursuant to the amortization schedule set forth below:
a. If the violation occurs within five (5) years following the execution of the
grant award agreement, 100% of the grant amount;
b. If the violation occurs more than five (5) but less than six (6) years follow-
ing execution of the grant award agreement, 80% of the grant amount;
c. If the violation occurs more than six (6) but less than seven (7) years fol-
lowing execution of the grant award agreement, 65% of the grant amount;
d. If the violation occurs more than seven (7) but less than eight (8) years fol-
lowing execution of the grant award agreement, 50% of the grant amount;
e. If the violation occurs more than eight (8) but less than nine (9) years fol-
lowing execution of the grant award agreement, 35% of the grant amount; and
f. If the violation occurs more than nine (9) but less than ten (10) years follow-
ing execution of the grant award agreement, 20% of the grant amount.
7.) Any amount due from the Grantee as a result of a violation of this
restrictive covenant shall be due in full within 90 days of the violation, or some
other period of time as agreed upon by the Parties.
Page 2 of 8
8.) If the entire amount due under the paragraph (6) is not
repaid by the Grantee within the time allotted, the Parties
agree that the Division may obtain a stipulated judgment
against the Grantee for the amount due plus interest at the
current legal rate, and record it in the public records of the
county where the property is located. The Parties further
agree that such a judgment shall be a stipulated judgment by
virtue of full execution of this restrictive covenant; that it
shall not require further approval of the Grantee or the Land
Owner to obtain; and that no trial or hearing shall be necessary to make such
a stipulated judgment legally effective. Such a stipulated judgment, when
recorded, shall be considered a valid lien upon the Grantee's interest in the
facility and the leased land, including improvements to the facility and the
land, funded in whole or in part by grant funds.
9.) As a condition to receipt of grant funds, the Grantee shall:
a. Record this covenant in the public records with the Clerk of the Circuit Court
of Pinellas County, Florida;
b. Pay all fees associated with its recording; and
c. Provide certified copy of the recorded covenant to the Division and to the
Land Owner.
10.) The Parties agree that the Division shall incur no tax liability as a result
of this covenant.
Page 3 of 8
IN WITNESS WHEREOF, the Grantee and the Land Owner hereby affirm
that they have read this restrictive covenant; that they understand and agree
to its terms; and that they hereby affix their signatures accordingly.
WITNE,oir
,A,Z4
► E SIGNATURE Ruth Eckerd Hall GRANTEE NAME (print)
PARTIES:
Zev Buffman
st Witness Signature
Second Witness Signature
1111 McMullen Booth Road
GRANTEE ADDRESS
Clearwater, Florida 33759
City State Zip
The State of Florida
County of Pinellas
AZav\ ►� e l l_e�,
First Witness Name ( pri4t)
K■' E
Second Witness Name (print)
I certify that on this date before me, an officer duly authorized in the state
and county named above to take acknowledgments, that
REV B oFfi\ -gyp J
personally
(Name)
appeared as CEO( eg.k5t061/431- for Rv•K ELE ¥\p L�-, i 11C.-
(Position) (Name of Qualifying Entity)
known to me to be or proved to my satisfaction that he /she is the person described
in and who executed the foregoing instrument.
Page 4 of 8
Type of Identification Produced PG2sfl•)A-L�.,Li Ke °w k.)
Executed and sealed by me at C'LERiels \ f TlE2 , Florida
on 1 -
Notary Public in and for
The State of ?A- dfZ►DA
My commission expires:
[SEAL]
SEE PAGE 8
lirs
'r MY COMMISISSIOON #SEE EE ge {F
EXPIRES: June 29, 2016
7� arc Bonded Thru Notary Public Underwriters `
LAND OWNER SIGNATURE LAND OWNER NAME (Print)
First Witness Signature First Witness Name (print)
Second Witness Signature Second Witness Name (print)
LAND OWNER ADDRESS
City
State Zip
Page 5 of 8
The State of Florida
County of
I certify that on this date before me, an officer duly au-
thorized in the state and county named above to take acknowledgments, that
personally
(Name)
appeared as for
(Position) (Name of Qualifying Entity)
known to me to be or proved to my satisfaction that he /she is the person de-
scribed in and who executed the foregoing instrument.
Type of Identification Produced
Executed and sealed by me at , Florida on
[SEAL]
Notary Public in and for
The State of
My commission expires:
Page 6 of 8
For the Division of Cultural Affairs:
R.A. Gray Building
Name Title 500 S. Bronough Street
Tallahassee, Florida 32399
First Witness Signature First Witness Name (Print)
Second Witness Signature Second Witness Name (print)
The State of Florida County of
I certify that on this date before me, an officer duly authorized in the state and
county named above to take acknowledgments, that
personally
(Name)
appeared as for the Florida Department of State, Division of
(Position)
Cultural Affairs known to me to be or proved to my satisfaction that he /she is the
person described in and who executed the foregoing instrument.
Type of Identification Produced
Executed and sealed by me at , Florida on
[SEAL]
Notary Public in and for
The State of
My commission expires:
Page 7 of 8
Countersigned:
cteorktncet.‘-e S
George N. Cretekos
Mayor
Approved as to form:
.L.■ (Y.
Laura Lipowski Mahony
Assistant City Attorney
CITY OF CLEARWATER, FLORIDA
William B. Horne, II
City Manager
Attest:
Rosemarie Call
City Clerk
Page 8 of 8