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AMENDED DEVELOPER' S AGREEMENT BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> DIVOSTA HOMES , L .P. <br /> FOR WATERWAY VILLAGE <br /> THIS AMENDED AGREEMENT is made and entered into this 11 th day of <br /> May , 20101 by and between Indian River County, Florida, a political <br /> subdivision of the State of Florida, 1840 251'' Street, Vero Beach , Florida 32960 <br /> ("County") , and DiVosta Homes , L . P . , a Delaware Limited Partnership , 4500 PGA Blvd . , <br /> Suite 400 , Palm Beach Gardens , Florida 33418 ("Developer") . <br /> WITNESSETH <br /> WHEREAS , the Developer proposes to develop a residential community, located <br /> north of 49`h Street and east of 58 `" Avenue in Indian River County, to be known as <br /> Waterway Village, to include up to 1 , 596 residential dwelling units , community <br /> recreation improvements , and up to 20 , 000 square feet of neighborhood commercial uses , <br /> together constituting a Development of Regional Impact ("DRI") on real property legally <br /> described on Exhibit "A" attached hereto and made a part hereof, and <br /> WHEREAS , the County, pursuant to Chapter 380 , Florida Statutes , adopted <br /> Resolution 2004- 137 ("Development Order") approving Waterway Village as a DRI and <br /> Planned Development project on November 9 , 2004 ; and <br /> WHEREAS , the County and the Developer share mutual goals and determined <br /> that they could assist each other with respect to right-of- way acquisition , roadway and <br /> drainage improvements , intersection improvements, and other improvements described in <br /> the Development Order and required by the Planned Development ; and <br /> WHEREAS , the Development Order limited the number of building permits <br /> which would be issued for Waterway Village before provision was made to accomplish <br /> certain intersection improvements and other required improvements ; and <br /> WHEREAS , the Development Order specified that provision for the <br /> accomplishment of the intersection improvements and required improvements could be <br /> made by, among other methods , a local government developer' s agreement ; and <br /> WHEREAS , Indian River Farms Water Control District ("District") possesses <br /> rights - of-way which traverse Waterway Village , and which the District is willing to <br /> release for the benefit of the Develop ; and <br /> WHEREAS , the County is willing to assist the Developer in acquiring title to the <br /> rights-of-way to be released by the District, at no cost to the County; and <br /> RM :7031940 : 9 <br /> Page 1 of 14 <br />