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- ly � p4 <br /> � 11 . 1 . E <br /> DEVELOPER' S AGREEMENT BETWEEN 2. [ b <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> WILLIAM H. HENSICK AND SONS, INC. FOR <br /> OSLO WEST COMMERCIAL PARK <br /> THIS AGREEMENT, entered this 14th day of September , 2004, by and between <br /> INDIAN RIVER COUNTY, FLORIDA a political subdivision of the State of Florida, 1840 25th <br /> Street, Vero Beach, Florida, 32960 hereafter called COUNTY William H. Hensick and Sons, Inc . , a <br /> Florida Corporation, 1125 12th Street, Suite C , Vero Beach, Florida 32960 — Norman W. Hensick, <br /> Vice President, 772- 562-6748 , hereafter referred to as the DEVELOPER. <br /> WITNESSETH <br /> WHEREAS , the DEVELOPER has applied to develop a commercial development to be <br /> known as Oslo West Commercial Park on approximately 5 acres of land along the north side of Oslo <br /> Road between 43rd Avenue and 27th Avenue, in Indian River County, Project Number SP-MA-00-09- <br /> 54/98050133 -23980, the legal description is attached as Exhibit "A" and incorporated herein by <br /> reference, and; <br /> WHEREAS , the COUNTY and DEVELOPER share mutual concerns with respect to left <br /> and right turn lanes along Oslo Road to accommodate project traffic volumes, and; <br /> WHEREAS, the COUNTY is planning to expand Oslo Road from two lanes to four/five <br /> lanes in the near future along the Oslo West Commercial Park frontage, and; <br /> WHEREAS , both the COUNTY and DEVELOPER can mutually benefit each other through <br /> a joint effort that will share the cost of the proposed Oslo Road improvements . <br /> NOW, THEREFORE , in consideration of the mutual terms, conditions, promises, covenants <br /> and premises hereinafter, the COUNTY and DEVELOPER agree as follows : <br /> 1 . The above recitals are affirmed as being true and correct and are thereby incorporated <br /> herein. <br /> 2 . In order to accommodate traffic into Oslo West Commercial Park, DEVELOPER would <br /> be required to install a westbound right turn lane and eastbound left turn lane on Oslo <br /> Road at the entrance to Oslo West Commercial Park. The COUNTY recently decided to <br /> expand Oslo Road from two lanes to four/five lanes along DEVELOPER' S frontage so <br /> any traffic improvements made by DEVELOPER would be used for a short time and then <br /> destroyed in the expansion of Oslo Road. Instead of the DEVELOPER constructing the <br /> 1 <br /> FAPublic Works\KimP\Contract & Agr Docs\Developer's Agreements\Oslo West Commercial Park-Dev Agr.doc <br />