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� Li <br /> 1I At 1 <br /> PROPORTIONATE SHARE AGREEMENT BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> RALOK, LLC <br /> THIS AGREEMENT, entered this 14th day of November 2006 by INDIAN <br /> RIVER COUNTY, FLORIDA a political subdivision of the State of Florida, 1840 25th Street, <br /> Vero Beach, Florida, 32960 hereafter called COUNTY and RALOK, LLC 1001 Bay Road, #201C, <br /> Vero Beach, FL 32963 , hereafter referred to as the DEVELOPER. <br /> WITNESSETH <br /> WHEREAS, the DEVELOPER has submitted a site plan application for development of a <br /> 1 . 5t acre parcel of land at 490 Old Dixie Highway, Vero Beach, (Indian River County Project <br /> Number 2005110131 ), which is legally described on Exhibit "A" attached and incorporated herein <br /> by reference, and; <br /> WHEREAS, RALOK, LLC is a Florida Limited Liability Corporation, authorized to <br /> conduct business in the State of Florida and is currently the owner of this property; and <br /> WHEREAS, Daniel F . Ligouri, as Manager, has the authority to act on behalf of RALOK, <br /> LLC and enter into this agreement binding the parties; and <br /> WHEREAS, as part of the development process, DEVELOPER has submitted a traffic study <br /> signed and sealed by a Florida licensed professional traffic engineer. Pursuant to Indian River Code <br /> § 952, the traffic study identifies the roads impacted by DEVELOPER' S proposed project; and <br /> WHEREAS, the traffic study shows DEVELOPER' S proposed project will impact the <br /> roadwav link on 27th Avenue between 4th Street and Oslo Road (1 . 5 miles) which is over the <br /> capacity as established by the County' s Comprehensive Plan ; and <br /> WHEREAS, the County is currently planning to make improvements to 27th Avenue which <br /> will increase the capacity of the road ; and <br /> WHEREAS, the improvements to 27th Avenue between 4th Street and Oslo Road appear on <br /> the County' s Five Year Capital Improvement Element of the County' s Comprehensive Plan; and <br /> WHEREAS, the COUNTY has estimated the costs of the improvements and finds that the <br /> F:\Attomey\Bill\Agreements\Proportionate Share\RALOC Liquori Proporlionate share agreement.doc <br />