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2. The "South Beach" is the land area on the Barrier Island <br />lying South of the now existing City limits to the now existing <br />South County boundary line separating Indian River County from <br />St. Lucie County, including any off -shore islands in the Indian <br />River which lie within the confines of Indian River County <br />adjacent to the defined area, however, neither the City nor the <br />County shall be obligated to provide service to such island(s) <br />unless adequate bridges for vehicular access are provided at the <br />expense of parties other than the City or County. <br />3. Within the South Beach area there exists a City -owned <br />water transmission line which runs South along Highway A -1-A <br />from the now existing city limits on the Beach to Spy Glass Lane. <br />This line has an inside diameter of twelve inches (12") from the <br />City limits South to approximately Surfside Terrace where it is <br />reduced to a ten inch (10") line. The line again reduces in size <br />to six.inches (6") at Mooring Line Drive and remains six inches <br />(6") to Spy Glass Lane. Said line is called the "12 -inch line herein. <br />Many parcels of land are presently connected for water service by <br />the City to said 12 -inch line. Some parcels of property now <br />utilize water service off said line and others are physically con- <br />nected thereto but do not now actually receive water service <br />because they do not need such service at this time. <br />4. The City of Vero Beach represents that it has entered into <br />a Stipulation Agreement dated March 13, 1978, pertaining to certain <br />subjects including the turnover of the South Beach area, 12 -inch <br />line, appurtenances and customers to the County for a price not <br />to exceed FIFTY-TWO THOUSAND SEVEN HUNDRED THREE DOLLARS AND <br />FIFTY-EIGHT CENTS ($52,703:58). A copy of said Stipulation is <br />attached to this Agreement as Exhibit "A The City represents to <br />County that there exists, as of May 15, 1981, a replacement value <br />of FIFTY-EIGHT THOUSAND ONE HUNDRED FORTY-THREE DOLLARS ($58,143.00) <br />for meters, yokes and meter boxes, less an estimated fifteen percent <br />(15%) depreciation, for an approximate net value of FORTY-NINE <br />THOUSAND FOUR HUNDRED TWENTY-ONE DOLLARS AND NINETY SEVEN CENTS <br />-2- <br />JAN 2 01982 Q.`,tIK <br />8 PAGE_ 6 <br />26 <br />