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JUIN 5 1985 BOOK <br />payments shall be made to the COUNTY and placed into . a special <br />escrow account held in the COUNTY's name, entitled "Village <br />Green, Phase IV (West) Escrow Account." <br />B. DEVELOPER acknowledges approximately 100 <br />vacant pads as of the date of this Agreement. DEVELOPER <br />agrees to pay to the COUNTY impact fees for each of the vacant <br />pads as occupied. In any event, DEVELOPER agrees to pay for <br />100 ERU's within 18 months of the date of this Agreement; whether <br />or not such pads are occupied. <br />_ C. DEVELOPER shall pay for each remaining ARU <br />as each existing occupied pad changes tenants --whether through. a <br />sale,. transfer, assignment, new lease, or any other arrangement. <br />D. In any event, one ERU shall be paid for each <br />pad in the entire development within ten years of the date of this <br />Agreement. <br />5. All impact fees paid, pursuant to Paragraph A <br />(above) shall be retained and, held by COUNTY in the "Village <br />Green, Phase IV (West) Escrow Account" until such time as the <br />project connects to the Indian River County combined wastewater <br />system, pursuant. .to Paragraph 3 (above), at which time all such <br />escrowed funds and -any -future impact fees to be paid, under this <br />Agreement, will be deposited in the "Impact Fee Trust Fund for the <br />Expansion of the Indian River County Sewerage System" and <br />available for any legal use by the COUNTY. <br />6. DEVELOPER agrees that the obligation to pay the <br />impact fees, under this Agreement, shall constitute a covenant <br />running with the land and shall be binding upon their successors, <br />heirs, assigns, transferees, and grantees of the property <br />benefiting from the provision of wastewater to the project, as - <br />described in Exhibit "A." This Agreement shall be recorded by the <br />DEVELOPER upon DEVELOPER's closing of the acquisition of <br />the project and recording of the deed. This Agreement shall be <br />recorded prior to any and all other encumbrances or liens on the _ <br />property. <br />7. Failure to pay any impact fee installments within 90 <br />days of when such installment is due shall, without notice or <br />other proceeding, cause all impact fee installments for the entire <br />93 <br />