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ATTORNEY COLLINS NEXT REPORTED ON THE REDRAFT OF THE CONTRACT <br />rk, <br />FOR THE PURCHASE OF PROPERTY IN THE TOWN OF INDIAN RIVER SHORES ADJACENT <br />TO COUNTY -OWNED PROPERTY THAT WAS SECURED FOR PARK PURPOSES, HE INFORMED 4 <br />THE BOARD THAT A MEETING HAD BEEN HELD WITH .JOHN SUTHERLAND, EDGAR <br />SCHLITT, ROBERT POWHATAN, COMMISSIONER LOY AND HIMSELF. THERE ARE TWO <br />PROBLEMS - THE DEVELOPER S INTEREST IN THE LAND AND TREASURE COAST <br />4 <br />UTILITIES` INTEREST. THE DEVELOPER IS PRIMARILY ED SCHLITT AND THE MAY ` <br />COMPANY WHICH DEVELOPED VERA CRUZ, THE MAY COMPANY HAS SINCE GONE TO <br />FORECLOSURE, AND ED SCHLITT HAS MADE THE FO;.LOWING OFFER. IF A CLAIM i <br />WAS EVER MADE BY THE MAY COMPANY, THE COUNTY WOULD PAY OR DEFEND THE <br />CLAIM UP TO $15,000. IN THE EVENT THE COUNTY HAD TO PAY THE MAY COMPANY, <br />OR -ANY OTHER THIRD PARTY, AN AMOUNT EXCEEDING $15,000, THEN ED SCHLITT <br />WOULD PERSONALLY PAY THE EXCESS AMOUNT, IN THE EVENT NO CLAIMS ARE MADE, <br />THE -COUNTY'S INDEMNIFICATION TO ED SCHLITT WOULD BE 151 OF $15,000. <br />IN OTHER WORDS, ALL THAT IS OWED IS 15;0 OF $15,000 TO BE PAID ED SCHLITT. <br />NO OTHER CASH IS REQUIRED UNLESS THE CONTINGENCY ARISES. ATTORNEY <br />COLLINS STATED THAT HE FELT THIS IS A REASONABLE APPROACH. <br />ATTORNEY COLLINS CONTINUED AS TO TREASURE COAST UTILITIES, <br />i. <br />F <br />THEY HAVE AGREED TO EXECUTE DOCUMENTS GIVING UP ALL THEIR INTEREST <br />P <br />IF THE COUNTY WILL ALLOW THEM TO CONTINUE TO OPERATE THE PLANT AND <br />i <br />RECEIVE ALL PROFITS UNTIL A GOVERNMENTAL AGENCY COMES IN. THEY WILL <br />MAINTAIN THE PLANT AND MAKE ALL REPAIRS. <br />i <br />COMMISSIONER SCHMUCKER ASKED IF TREASURE COAST COULD SELL <br />THEIR INTEREST IN THE PLANT, <br />ATTORNEY COLLINS STATED THAT THE CONTRACT CAN BE WRITTEN TO <br />TAKE CARE OF THAT CONTINGENCY. <br />N <br />AFTER FURTHER DISCUSSION, THE BOARD AGREED THAT THE TERMS <br />DESCRIBED BY ATTORNEY COLLINS ARE ACCEPTABLE TO THEM. <br />ATTORNEY COLLINS INFORMED THE BOARD THAT HE HAD PREPARED A <br />RESOLUTION IN REGARD TO THE RELEASE OF GENERAL DEVELOPMENT CORPORATION <br />PERFORMANCE BONDS FOR VERO BEACH HIGHLANDS UNITS 2,3,4 AND 5, AND VERO <br />SHORES UNIT 1. HE STATED THAT THESE UNITS WERE ALL COMPLETED SOME TIME <br />BACK AND THAT ADMINISTRATOR .JENNINGS HAS CHECKED THIS OVER AND APPROVED IT$ i <br />40 <br />