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<br /> PREPARED BY: RESERVED FOR USE BY
<br /> Eric D. Rapkin, Esq. CLERK OF CIRCUIT COURT
<br /> Hughes Hubbard & Reed LLP
<br /> 201 South Biscayne Boulevard, Suite 2500
<br /> Miami, Florida 33131
<br /> RECORD AND RETURN TO:
<br /> Robert C. Reid, Esq.
<br /> Bryant, Miller and Olive, P.A.
<br /> 201 South Monroe Street, Suite 500
<br /> Tallahassee, Florida 32301
<br /> COLLATERAL DEVELOPMENT AGREEMENT
<br /> This Collateral Development Agreement (the "Agreement") is entered into as of August
<br /> 2001, by and between Los Angeles Dodgers, Inc., a Delaware corporation, with its principal
<br /> place of business located at 1000 Elysian Park Avenue, Los Angeles, California 90012 ("Dodgers"),
<br /> and Vero Acquisition, LLLP, a Florida limited liability limited partnership, with its principal place
<br /> of business located at 3801 PGA Boulevard, Suite 555, Palm Beach Gardens, Florida 33410
<br /> ("Developer").
<br /> RECITALS
<br /> A. Dodgers own and control the sports and entertainment venue located in Los
<br /> Angeles, California, and known as "Dodger Stadium," the Major League Baseball team known
<br /> as the "Los Angeles Dodgers" (the "Team"), and, subject to the MLB Documents and the Rules
<br /> of Major League Baseball (as defined below), all rights, title, and interest in and to the names,
<br /> trademarks, service marks, trade names, insignia, symbols, logos, decorative designs, trade dress,
<br /> uniform designs, or other identifications associated with Dodger Stadium and the Team
<br /> (collectively, the "Dodgers' Marks").
<br /> B. Since 1949, Dodgers have owned and operated the spring training facility located
<br /> in Vero Beach, Florida, and known generally as "Dodgertown."
<br /> C. Pursuant to that certain Warranty Deed of even date herewith, Indian River
<br /> County, Florida (the "County") has purchased from Dodgers that portion of Dodgertown which
<br /> encompasses the baseball fields and facilities, office buildings, and conference facilities located
<br /> on the premises (collectively, the "Baseball Facilities"). Dodgers, in turn, have leased the
<br /> Baseball Facilities back from the County and have agreed to renovate certain portions of the
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