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FAIR SHARE ROADWAY IMPROVEMENTS AND WATER AND SEWER CAPACITY CHARGES FEE AGREEMENT THIS AGREEMENT between Indian River County, a political subdivision of.the State of Florida ("County"), and INDIAN RIVER INDUSTRIAL CENTER, INC., a Florida corporation ("Developer"), is effective upon its execution by the second of the two parties. WITNESSETH: WHEREAS, Developer is undertaking a non-residential development in Indian River County, Florida, which, pursuant to Chapter 953, the Code of Indian River County, requires the payments of the following fees: Traffic Impact Fee $17,413.20 3 Water ERUs 3,900.00 3 Sewer ERUs 8,388.00 TOTAL $29,701.20 which sum is less than $50,000.00; and WHEREAS, it is the policy of the Indian River County Board of County Commissioners, pursuant to the County's economic development powers as set forth in Florida Statute Section 125.045, to expend public funds to attract and retain business enterprises, and the use of public funds toward the achievement of such economic development constitutes a legitimate public purpose; and WHEREAS, the Indian River County Board of County Commissioners has established a policy promoting economic development of non-residential developments having traffic impact fees of less than $50,000.00; and WHEREAS, The Indian River County Code requires the payment of the fair share fee and water and sewer capacity charges prior to issuance of a building permit; and WHEREAS, it the stated policy of the governing board of Indian River County to forbear collection of the traffic impact fee and water and sewer capacity charges in connection with non-residential developments having fees of less than $50,000.00 until the time of the issuance of certificate of occupancy in order to promote economic development within Indian River County; and WHEREAS, by Resolution 2003-002, as amended, the Indian River County Board of County Commissioners has delegated authority to execute this agreement on its behalf to the Indian River County Community Development Director or his designee, NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the parties to this agreement agree as follows: