2011-106E - Laserfiche WebLink

Home Browse Search

Z-311 1335- 2011-104E FIRST AMENDMENT TO PROPERTY EXCHANGE AGREEMENT THIS FIRST AMENDMENT to that certain Property Exchange Agreement, dated as of February 1, 2011, is made and entered into as of the 1st day of June, 2011 by and between INDIAN RIVER COUNTY, a political subdivision of the State of Florida, 180127 1h Street, Vero Beach, Florida 32960 ("County") and the CITY OF VERO BEACH, a municipality of the State of Florida, 1053 20th Place, Vero Beach, Florida 32960 ("City") as follows: WHEREAS, as of February 1, 2011, the County and the City entered into that certain Property Exchange Agreement in which they agreed to exchange the Cloverleaf Property for the Parking Property, ("Exchange Agreement"); and WHEREAS, the parties desire to amend the Exchange Agreement, as set forth herein; NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree, as follows: 1. Recitals. The above recitations are true and correct and are incorporated herein. 2. Conveyance of Easements by the City. Paragraph 8 of the Exchange Agreement is amended to read as follows (new language underlined): The City shall convey to the County (a) an easement for drainage of stormwater from 43`d Avenue in its future expanded condition across the remaining City Property to the existing retention pond, (b) an easement for access and maintenance to the pump house, pumps, and pipes at the southwest corner of the City Property to the existing retention pond, and (c) an easement to locate on the City Property adjoining the Cloverleaf Property up to 33.33% of the new retention pond to be constructed on the Cloverleaf Property ("New Retention Pond"), and thereafter to use the portion of the New Retention Pond located on the City Property (together with the portion located on the Cloverleaf Property) for drainage, irrigation, stormwater retention and maintenance purposes related to the Dodgertown property and the Cloverleaf Property. In addition, in the event that the County is denied physical access to Dodgertown through both of the easements which are believed to exist at the east and west ends of the DT Commons property, lig north of Holman Stadium and north of the hotel/conference center, then the City shall convey to the County an easement for ingress to and egress from Dodgertown over the City Property. The parties shall cooperate in good faith to locate the easement in a manner which provides reasonable access to Dodgertown but does not unreasonably interfere with the City's use of the City Property. The easements described above shall be drafted in such a manner, or shall be modified at the appropriate time, to apply to the New Retention Pond, after such pond is constructed. To the extent that the easements described herein are not completed and executed at the time of closing, the requirement to execute and deliver such easements shall survive the closing.