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/ -/y o3 <br /> 12/30/02(PWD)jwd/rt(wc)dev. <br /> 0/0 <br /> DEVELOPERS AGREEMENT FOR CONSTRUCTION <br /> OF IMPROVEMENTS TO 101h COURT <br /> INDIAN RIVER COUNTY, FLORIDA <br /> THIS AGREEMENT for Construction of Improvements to 10`h Court, north of 37`h <br /> Street, Indian River County, Florida, is made this 14thday of January , 2003, between THE <br /> MEDICAL ARTS BUILDING OF VERO BEACH, LLC., P.O. BOX 2069, VERO BEACH, <br /> FLORIDA 32961 ("DEVELOPER"), and INDIAN RIVER COUNTY, a political subdivision of <br /> the State of Florida, ("COUNTY"): <br /> RECITALS: <br /> A. The DEVELOPER is constructing a major site plan office building on Lot 1 and 2, <br /> Medical Services Subdivision. <br /> B. The DEVELOPER has agreed to construct a portion of 10`h Court to complement the <br /> office building in Indian River County, Florida, and to provide future access to property in the <br /> County. <br /> C. COUNTY and DEVELOPER desire that the actual construction of 10`h Court occur in <br /> conjunction with the DEVELOPER'S project. <br /> AGREEMENT: <br /> For and in consideration of the mutual promises contained herein, and other good and <br /> valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties <br /> agree as follows: <br /> 1. Recitals. The foregoing recitals are hereby incorporated as if fully restated herein. <br /> 2. Construction of 101h Court. <br /> a. The DEVELOPER is planning a one-phase project. Prior to June 30, 2003, <br /> the DEVELOPER agrees to construct 10`h Court as a two-lane paved roadway, according to <br /> COUNTY approved standards, along his west property line frontage. DEVELOPER shall <br /> prepare design drawings and obtain necessary permits. <br /> b. The DEVELOPER shall pay 75 % of the cost of survey, engineering, <br /> permitting, construction, inspection and related costs for paving and drainage improvements <br /> ($15,546.75) for a two-lane roadway. The COUNTY shall pay 25% ($5,182.25) of the costs. <br /> The COUNTY prior to construction approved all costs and design. <br /> FAPublic Works\Rebecca\SITE PLAWDevelopees Agreements\Central Groves-Dev.doc 1 <br />