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AGREEMENT <br /> BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> SDG Kings, Inc. <br /> FOR THE CONSTRUCTION OF OFF-SITE UTILITIES <br /> THIS AGREEMENT by and between INDIAN RIVER COUNTY, a political subdivision of the State of <br /> Florida, the address of which is 1840 25th Street, Vero Beach, Florida 32960 (hereinafter the "COUNTY") and <br /> SDG Kings, Inc., the address of which is 298 S . W. Panther Trace, Port St. Lucie, Florida 34953 (hereinafter the <br /> DEVELOPER) is effective upon execution by the second of the two parties . <br /> WHEREAS, the DEVELOPER, in conjunction with the construction improvements at "The Oaks of Vero <br /> P.D.", is providing water and wastewater facilities to serve the subject property located at the north-east corner <br /> of 58th Ave and 12th St., site address of 5500 12th St., and more specifically described in Exhibit "A'; and <br /> WHEREAS, pursuant to Section 918 .05 , The Code of Indian River County (Ordinance 90- 16, as amended), <br /> the COUNTY, requires the DEVELOPER to provide the utility improvements to serve the regional area, and <br /> agrees to reimburse the DEVELOPER, as provided herein, for the cost of providing these off-site utilities, <br /> NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good and <br /> valuable consideration, the COUNTY and DEVELOPER agree as follows : <br /> 1 . OFF-SITE UTILITIES : <br /> The DEVELOPER shall construct the necessary off-site utilities described herein as directed by the Indian River <br /> County Utilities Department. The COUNTY shall reimburse the DEVELOPER for over-sizing of the off-site <br /> utilities as outlined below : <br /> A. 6-inch Diameter Sanitary_Force Main : <br /> The DEVELOPER shall furnish and install a 6" dia. PVC Sewer force main with necessary valves and <br /> fittings, from its connection point at the N.E. corner of 58th Ave / 120' St., easterly 24001f along the <br /> north side of 12th Street, terminating at the east project limits of the Oaks of Vero P.D. . <br /> Reimbursement: The COUNTY shall reimburse the DEVELOPER based on an itemized invoice ofthe <br /> installed material on a complete basis — less 10% retainage, monthly, with final payment and release of <br /> retainage at the time the above referenced facilities are dedicated to and accepted by the County. <br /> Reimbursement shall be in the form of a check from the COUNTY, and shall not exceed the amount of <br /> $ 55 ,679 .71 (see attached Exhibit B). <br /> Page 1 <br />