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This document prepared by and return to: <br />Indian River County <br />Public Works Department <br />1840 25th Street <br />Vero Beach, Florida 32960 <br />DEVELOPER'S AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />AND <br />NEWPORT NORTH HOLDINGS, LLC <br />FOR NORTH LAKES SUBDIVISION <br />SITE ACCESS AND STORMWATER <br />MANAGEMENT IMPROVEMENTS <br />BDB/bm <br />THIS AGREEMENT, entered this 8th day June , 2004, by and between <br />Indian River County, FLORIDA a political subdivision of the State of Florida, 1840 25th Street, Vero <br />Beach, Florida, 32960 hereafter called County and Newport North Holdings, LLC, a foreign limited <br />liability company, 1601 Dove Street, Suite 293, Newport Beach, CA 92660, Attn: Mark J. Kerslake, <br />hereafter referred to as the Developer. <br />WITNESSETH <br />WHEREAS, the Developer proposes to develop a residential community to be known as <br />North Lakes Subdivision on a 181 acre parcel of land along 58th Avenue, (Indian River County <br />Project Number 96070055)(the `Project") which is legally described on Exhibit "A" attached hereto <br />and incorporated herein by reference; and <br />WHEREAS, the County and Developer share mutual goals and can assist each other <br />with respect to right-of-way acquisition, roadway improvements, site access, and drainage <br />improvements for 58th Avenue;and <br />WHEREAS, the County anticipates that 53rd Street will be constructed to connect US 1 <br />with 58th Avenue at a location proximate to the North Relief Canal; and <br />WHEREAS, the Indian River County Planning and Zoning Commission gave their <br />approval to the preliminary plat of 525 units known as North Lakes Subdivision on April 22, <br />2004; and <br />WHEREAS, the Developer and County wish to provide for an altemative access across a <br />new, two-lane public bridge with sidewalk over the North Relief Canal (the "Bridge") in the event that <br />53rd Street is constructed; and <br />NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants <br />and premises hereinafter, and other good and valuable consideration, the receipt and sufficiency of <br />which is hereby acknowledged, the County and Developer agree as follows: <br />1. Recitals• The foregoing recitals are hereby incorporated as if fully restated herein. <br />2. Site Access: Developer shall provide access to the Project, as follows: <br />(M20752622} 1 <br />C:\Documents and Settings\TRamm\My Documents\wordfiles\Florida\Bayer\North Lake SD -Developer's Agr-final.doc <br />