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(iv) Within ten (10) days from the date hereof, Grove Isle will file an <br />Administrative Approval Site Plan Application ("Site Plan Application") with the County, <br />requesting that the County release and terminate the Covenant. County staff will recommend <br />approval of the Site Plan Application to the Board of County Commissioners, which will have <br />final authority with respect to approval and disapproval of the Site Plan Application; and <br />(v) River Shores and Grove Isle shall each pay one-half of the invoice <br />presented by Gene Roddenberry, mediator. Payment shall be due within five (5) days of receipt <br />of such invoice, and shall not be contingent upon satisfaction of the conditions set forth in <br />paragraph 5 below. <br />4. Release. Upon the effective date of this Agreement, each party releases, satisfies <br />and discharges each other party from all claims, liabilities and causes of action arising out of or <br />relating to the Canal and the Covenant. <br />5. Effective Date. This Agreement shall become effective upon satisfaction of the <br />following conditions: (i) the consent and joinder to this Agreement by all owners of River <br />Shores, which consent or joinder may be by original or fax signature to Exhibit "A" attached <br />hereto, or by email or other written communication indicating such consent or joinder; (ii) <br />approval of this Settlement Agreement, and release and termination of the Covenant, by the <br />Board of County Commissioners of Indian River County, Florida; and (iii) approval of this <br />Agreement by Grove Isle's attorney, Charles W. McKinnon. If attorney McKinnon does not <br />deliver written objection to Alan S. Polackwich, Sr. within ten (10) days from the date first set <br />forth above, attorney McKinnon shall be deemed to have approved this Agreement. <br />6. Successors and Assigns. This Agreement shall be binding upon the parties <br />hereto, their heirs, successors and assigns. <br />Grove Isle at Vero Beach Condominium <br />Association, Inc. <br />B y: <br />Steph n M. Carey, President <br />IndianRiver County, Florida <br />By: <br />Alan S. Polackwich, Sr., County Attorney <br />William E. Hayhurst <br />River Shores - Lot 10 <br />Rocco Cerro <br />Annette Cerro <br />