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1 <br /> i <br /> DEVELOPER' S AGREEMENT BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> ACTS , INC . <br /> THIS AGREEMENT is made and entered into this 7th day of September 1201 O , by <br /> and between Indian River County, Florida, a political subdivision of the State of Florida, 1801 27" <br /> Street, Vero Beach, Florida 32960 ( " County" ) , and ACTS , Inc . , a Pennsylvania corporation , <br /> ( " Developer" ) . <br /> WITNESSETH <br /> WHEREAS , the Developer proposes to develop Phase 3 of Indian River Estates , located on the <br /> north side of State Road 60 , south of 26'r' Street, in Indian River County, Florida ( " Project " ) ; and <br /> WHEREAS , as proposed, the Project will include a 120-bed nursing facility, together with 11 <br /> villas and other amenities , on approximately 10 acres of land . A legal description of the property is <br /> attached as Exhibit " A" ; and <br /> WHEREAS , the County desires Developer to design and implement improvements to 26fl' Street <br /> from 82n1 Avenue to existing pavement which is at a point approximately 720 feet west of 74`'' Avenue <br /> (4500 feet overall) , and County has included such intersection and roadway improvements in its <br /> funding priorities over the next five years ; and <br /> WHEREAS , the County and the Developer share mutual goals and can assist each other with <br /> respect to roadway improvements and other improvements described herein ; <br /> NOW, THEREFORE, in consideration of the mutual terms , conditions , promises , covenants , and <br /> premises stated herein, and other good and valuable consideration, the receipt and sufficiency of which <br /> is hereby acknowledged, the County and the Developer agree as follows : <br /> 1 . Recitals : The foregoing recitals are incorporated as if fully restated herein . <br /> 2 . Roadway Se�nents : The Roadway Segments shall consist of the following : <br /> A . Segment 1 : 26 "' Street from a point approximately 720 feet West of 74°i <br /> Avenue (West end of existing 26 °i Street improvements) to the Project' s proposed <br /> driveway connection, a distance of approximately 1900 feet . <br /> B . Segment 2 : 26b Street from the West end of Segment 1 westerly to the <br /> intersection of the Developer ' s west boundary and 26`'' Street right-of-way (approximately 654 <br /> feet) <br /> C . Segment 3 : 26 °i Street from the west end of Segment 2 westerly to 82 "' <br /> Avenue . <br /> 1 <br /> J :\Bruce\clienls\ACTS\Developer's Agreement - I .R.C. clean 6.15.09.doc <br />