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D <br />00l<) <br />1' LSM V I a�Y <br />6��-®�� <br />AMENDMENT #3 TO DEVELOPER'S AGREEMENT <br />BETWEEN INDIAN RIVER COUNTY, FLORIDA <br />AND POINTE WEST OF VERO BEACH, LIMITED PARTNERSHIP <br />This Amendment No. 3 to the Developer's Agreement between Indian River County, Florida and <br />Ponte West of Vero Beach, Limited Partnership dated July 27, 1999, hereby revises the original <br />agreement and Amendment No. 1 dated May 22, 2001, and Amendment No. 2 dated March 15, <br />2005, as follows: <br />1. Page 3, Paragraph 4 shall be revised as follows: <br />a. Line 9 shall be amended after the sentence "Funding to be 50% COUNTY and 50% <br />DEVELOPER." by adding the following: "To the DEVELOPER'S 50% funding share, a <br />monetary credit shall be applied for the transference of the following four items from the <br />DEVELOPER to the COUNTY: <br />1) Temporary construction easements necessary for the construction of 16th Street <br />2) Right -of Way near the intersection of 160 Street and 74th Avenue <br />3) Drainage easement for treatment of stormwater runoff from 16th Street <br />4) Golf course interruption due to drainage pipe construction" <br />The DEVELOPER'S 50% share of the 16th Street paving is $458,385.94. The cash value of the <br />four items needed from the DEVELOPER is as follows: <br />1) Temporary construction easement= 0.83 acres x $50,000/acre x 10% _ $ 4,149 <br />2) Right-of-way = 0.07 acres x $50,000/acre = $ 3,444 <br />3) Drainage easement = 2 acres x $50,000/acre = $100,000 <br />4) Golf course interruption = $ 1.500 <br />Total = $109,093 <br />New DEVELOPER 50% share of 16th Street paving = $458,385.94 - $109,093 = $349,292.94 <br />FVublic WorkMLuenne WAgreement Docs\Developer's Agreements\Pointe West, AMENDMENT #3 03-01-10.doc <br />