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SECOND AMENDMENT TO AGREEMENT BETWEEN 13. A .
<br /> INDIAN RIVER COUNTY, FLORIDA
<br /> AND
<br /> GHO
<br /> GHO HOMES CORPORATION
<br /> THIS SECOND AMENDMENT TO AGREEMENT , entered this 14`h day of December , 2010 ,
<br /> by and between INDIAN RIVER COUNTY , FLORIDA a political subdivision of the State of Florida ,
<br /> 1801 27 "' Street , Vero Beach , Florida 32960 ( "COUNTY" ) and GHO HOMES CORPORATION ,
<br /> successor in interest to Woodside Fieldstone Ranch , L . L . C . , aFlorida limited liability company (formerly
<br /> known as Woodside Tuscany, LLC) , 4521 PGA Blvd . # 120 , Palm Beach Gardens , Florida 33418 ,
<br /> telephone number (561 ) 688 - 2020 ("DEVELOPER" ) .
<br /> WITNESSETH :
<br /> WHEREAS , the parties entered into an Agreement for the Construction of Off- Site Utilities ,
<br /> effective January 3 , 2006 ("Agreement" ) , and a First Amendment to Agreement , effective August 12 , 2008
<br /> ("First Amendment" ) ; and
<br /> WHEREAS , as part of the original 2006 Agreement , the COUNTY agreed to reimburse
<br /> DEVELOPER for certain off- site utility :improvements ; and
<br /> WHEREAS , specifically , in paragraph I . B . of the Agreement , the COUNTY agreed to reimburse
<br /> the DEVELOPER for the installation of a Master Planned water line along the north side of 77 `h Street
<br /> from the northwest corner of 58 "' Avenue and 77 Street to the west property line of the project ; and
<br /> WHEREAS , the Agreement provided that the reimbursement funds would come from the capital
<br /> projects budget based on projected future payment of capacity charges ; and
<br /> WHEREAS , due to the decline in the payment of projected capacity charges , the reimbursement
<br /> amount to DEVELOPER by COUNTY must be reduced proportionately ; and
<br /> WHEREAS , both the COUNTY and DEVELOPER agree that the Agreement must be amended to
<br /> reflect the actual amount which the COUNTY owes the DEVELOPER in reimbursement costs .
<br /> NOW, THEREFORE , in consideration of the mutual terms , conditions , promises , covenants and
<br /> premises hereinafter, the COUNTY and DEVELOPER agree to amend the Agreement as follows :
<br /> 1 . The above recitals are affirmed as being true and correct and are thereby incorporated
<br /> herein .
<br /> 2e Paragraph 1 . B . of the Agreement is amended to add the following language : The
<br /> COUNTY shall reimburse the DEVELOPER for funds advanced by the DEVELOPER in constructin & a 24
<br /> inch PVC Master Planned water line along the north side of 77 °i Street from the northwest corner of 58 `h
<br /> Avenue and 77 `h Street to the west property line of the project. In the 2008 First Amendment , the parties
<br /> set the maximum amount of reimbursement at $ 597 , 377 . 75 . However , the final maximum amount of
<br /> reimbursement was reduced in the bill of sale to $ 561 , 184 . 30 . Actual capacity charges paid amounted to
<br /> only 40 . 76 % of projected amounts Thus the total obligation was reduced to $ 228 , 738 . 72 (40 . 76 % of
<br /> $ 561 , 184 . 30 ) , further reduced by offset of an agreed utility charge to $ 227 , 845 . 45 . COUNTY paid
<br /> F:Vluorriey\Lindn\GliN7:RAI,�5URDIVIS[ON.1\WnnrlelJeVIus( nny 1,6) 0110 Agrmt (1A AmenA)adoc Pape I of 2
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