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The above proposed settlement structure is designed to furnish the County with certainty as to the earliest date in which DiVosta will be entitled to draw down the 1,596 units, as to provide a deadline by which time DiVosta must pay to the County all impact fees. Additionally, DiVosta is agreeing to construction of 53rd Street substantially in advance of its present deadline under the DA at a time when, because of the economic hard times, funds are not easily available to do so. Finally, the County will receive a substantial benefit with the 4-laning of 58th Avenue, relieving the County of that responsibility and outlay of funds. (6) Indian River County will load all trips from the 1,596 units in Waterway Village onto its road system for concurrency modeling. They shall remain reserved for the DRI until the timeframes to pull building permits set out in paragraph 5 above have expired. (7) DiVosta will submit and County will process request to amend the DO and DA as they relate to intersection improvements at Kings Highway (58th Avenue) and 49th Street and 45th Street. Currently those intersection improvements are to be completed prior to the issuance of more than 337 building permits. These conditions shall be modified to tie the improvements to 49th Street to the mobilization for 4-laning of Kings Highway between 49th Street and 53rd Street. 45th Street intersection improvements shall commence when County acquires all necessary right of way to accommodate the designed intersection improvements and provides notice to proceed to DiVosta. (8) Amend DO to incorporate the concurrency vesting provisions of this settlement agreement. IMPLEMENTATION Upon approval of this proposed settlement by the parties, the following steps will be taken to implement the settlement: (1) Counsel will file a joint motion for stay of case pending finalization and approval of settlement. (2) DiVosta shall apply for, and County shall process, application to modify DO condition 20 with respect to timing of 45th Street and 49th Street intersection improvements on Kings Highway (58th Avenue) and to add the vesting provision of this Settlement Agreement to the DO. 31 July 21, 2009