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EXHIBIT B TO SETTLEMENT AGREEMENT
<br />AMENDED DEVELOPER'S AGREEMENT BETWEEN
<br />INDIAN RIVER COUNTY, FLORIDA
<br />AND
<br />DIVOSTA HOMES, L.P.
<br />FOR WATERWAY VILLAGE
<br />THIS AMENDED AGREEMENT is made and entered into this day of
<br />, 20 ,2010, by and between Indian River County, Florida, a political
<br />subdivision of the State of Florida, 1840 25th Street, Vero Beach, Florida 32960
<br />("County"), and DiVosta Homes, L.P., a Delaware Limited Partnership, 4500 PGA Blvd.,
<br />Suite 400, Palm Beach Gardens, Florida 33418 ("Developer").
<br />WITNESSETH
<br />WHEREAS, the Developer proposes to develop a residential community, located
<br />north of 49th Street and east of 58th Avenue in Indian River County, to be known as
<br />Waterway Village, to include up to 1,596 residential dwelling units, community
<br />recreation improvements, and up to 20,000 square feet of neighborhood commercial uses,
<br />together constituting a Development of Regional Impact ("DRI") on real property legally
<br />described on Exhibit "A" attached hereto and made a part hereof, and
<br />WHEREAS, the County, pursuant to Chapter Florida Statutes, adopted
<br />Resolution 2004-137 ("Development Order") approving Waterway Village as a DRI and
<br />Planned Development project on November 9, 2004; and
<br />`af,LRE
<br />WHEREAS, the County and the Developer share mutual goals and €-l7determined
<br />that they could assist each other with respect to right-of-way acquisition, roadway and
<br />drainage improvements, intersection improvements, and other improvements -i-e-tiet
<br />+0.37 »-erne. rt described in the Development Order and required by the Planned
<br />Development; and WHERE:A.S. the Developmen4-- r ier lirlrti irx L, ei 'bEj4di-r
<br />pe -H -1 -Tits which will be issued for Nraterway be: re r lion lr + Eo
<br />accomplish certain intersection impro,,=rments and othe-=r- HF€ ',-;7;11; and
<br />'WHEREAS, the Development Order sf--�ecifieslimited the number of building
<br />permits which would be issued for Waterway Village before provision was made to
<br />accomplish certain intersection im.rovements and other required improvements. and
<br />WHEREAS, the Development Order specified that provision for the
<br />accomplishment of the intersection improvements and required improvements ,t a,could
<br />be made by, among other methods, a local government developer's agreement; and
<br />WHEREAS, Indian River Farms Water Control District ("District") possesses
<br />rights-of-way which traverse Waterway Village, and which the District is willing to
<br />release for the benefit of the Develop; and
<br />RM: 7375391: 1
<br />42
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