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This document prepared by and return to: Indian River County Public Works Department 1840 25th Street Vero Beach, Florida 32960 BDB/bm the County, at the County's discretion. The balance of the all -remaining funds, if any, shall to be refunded to Newport North Holdings, LLC upon their written request. D. The Developer's obligation with respect to the Contribution Amount, the Bridge, and access to the Project, shall be deemed satisfied so long as Developer is in compliance with this Agreement. The Developer shall have no further obligation with respect to the Bridge, the Contribution Amount, or access to this Project, whether the Contribution Amount is used to construct the Bridge or refunded. Developer must comply with all other elements of the approved plat and laws and regulations, not inconsistent with this Agreement. 3. Kings Highway Right -Of -Way Acquisition: Developer grants County the option to purchase property along the Project's frontage on 58th Avenue at a price of $18,000.00 per acre in an amount sufficient to meet the County's ultimate Comprehensive Plan Thoroughfare Plan Right -of -Way requirements of 130 feet. Any property purchased by the County shall be used as right-of-way for future expansion of 58th Avenue. The option to purchase this property shall expire on January 1, 2005. 4. Emergency Access Accepted: County and Developer agree that development of this Project will include an emergency access off of 58th Avenue, to be located near the southern corner of the site as shown on the preliminary plat dated 4/22/04 and Exhibit "D". County finds that this emergency access together with the 57th Street access is sufficient to allow the Project to proceed to full use and occupancy In the event the Bridge is constructed, and the segment of 53rd Street between the Southem Entrance and 58th Avenue is in service, the emergency access may be abandoned or it may become a pedestrian access only. 5. Stormwater Management The Developer agrees to incorporate sufficient capacity in its Project to provide stormwater storage for the impervious area of 58th Avenue, being 70 feet wide, lying north of the North Relief Canal and south of 57th Street. The capacity shall be such to accommodate the drainage from 58th Avenue when it is widened to four lanes. The Developer shall have no responsibility to design, install, or pay any costs toward any drainage improvements required to direct the drainage from the above described section of 58th Avenue into the stormwater management system provided by the Developer in the Project, except for the following construction: a drainage structure (inlet or manhole) for future connection by County, located south of 57th Street and east of 58th Avenue and the required drainage pipe to a lake located on the northwest comer of the Project site. {M2075262;2}3 C:\Documents and Settings\TRamm\My Documents\wordfiles\Florida\Bayer\North Lake SD -Developer's Agr-final.doc