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WHEREAS, the County and the Developer entered into a Developer's Agreement <br />on December 13, 2005 ("Developer's Agreement") with respect to right-of-way <br />acquisition, roadway and drainage improvements, intersection improvements, and other <br />improvements described in the Development Order and required by the Planned <br />Development; and <br />WHEREAS, a dispute arose between the parties as to whether Waterway Village <br />is vested for traffic concurrency; and <br />WHEREAS, the parties have worked in good faith to resolve their disputes and <br />have agreed to certain terms and conditions which require that the Developer's <br />Agreement and the Development Order be amended; and <br />WHEREAS, the County pursuant to Section 380.06(19), Florida Statutes, adopted <br />Resolution 2010- 037 approving an Amended and Restated Development Order for <br />Waterway Village ("Amended and Restated Development Order") on <br />Mav 11th .2010. <br />NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, <br />covenants and premises hereinafter stated, and other good and valuable consideration, the <br />receipt and sufficiency of which is hereby acknowledged, the County and the Developer <br />agree to enter into this Amended Agreement and to agree as follows: <br />1. Recitals: The foregoing recitals are hereby incorporated as if fully <br />restated herein. <br />2. Entire Agreement: This Amended Agreement supersedes all previous <br />agreements and representations, whether oral or written, between the Developer and the <br />County and that certain Developer's Agreement entered into on December 13, 2005 <br />between Indian River County and DiVosta Homes, L.P, and recorded in Official Records <br />Book 1988, Pages 765-777 of the Public Records of Indian River County, Florida. <br />3. Building Permits and Vesting: <br />A. Building permits for Waterway Village shall be issued in staged <br />increments and vested for traffic concurrency as follows: <br />RM:7031940:9 <br />(i) 733 single family dwelling units in Phases I and II were previously <br />vested for traffic concurrency and shall remain vested for traffic <br />concurrency through December 31, 2016. Development of a <br />recreational/clubhouse on 2.2 acres, the school site, and <br />preservation areas may also commence at any time and under the <br />County's development regulations are not subject to concurrency <br />and are therefore deemed vested. <br />Page 2 of 14 <br />