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LA <br />WHEREAS, ROBERT J. VATLAND, desiring that this <br />Reservation of Right -Of -Way resolve certain questions <br />pertaining to said properties, is willing to cooperate in <br />obtaining site plan approval by committing to the covenants, <br />conditions, and terms further described herein; <br />NOW, THEREFORE, in consideration of issuance of <br />site plan approval by Indian River County, as an express <br />condition of such approval, and in an effort to accomplish <br />the above -stated objectives, ROBERT J. VATLAND expressly <br />represents and agrees on behalf of itself, its successor`s, <br />its legal representatives and assigns, as follows: <br />1. ROBERT J. VATLAND will not construct or cause <br />to be constructed, built or placed upon the reserved parcel <br />of land described herein, any improvement which would <br />increase the value of said parcel or of the remaining <br />property described in Exhibit "A" herein or any site -related <br />improvement which is required by law to serve the principle <br />use on the property. All future structures shall be set <br />back from the reserved parcel in conformance with setbacks <br />established in the zoning code as if the reserved parcel <br />were part of the right-of-way. <br />Z. ROBERT J. VATLAND acknowledges and agrees with <br />Indian River County that the purpose of this Agreement is to <br />prevent improvements or encroachments into the property <br />reserved for future right-of-way, and ROBERT J. VATLAND <br />further agrees to forego and waive any and all damages or <br />compensation for the value of any intentional or incidental <br />improvements which are made to the reserved property, except <br />normal appreciation. <br />3. Indian River County recognizes that ROBERT J. <br />VATLAND may continue to make such use of the reserved <br />property as wi I I not cause an increase i n the va I ue of the <br />reserved property or of the remaining site, until such time <br />as the County acquires the reserved property for <br />right-of-way improvements. <br />4. Both parties agree that ROBERT J. VATLAND does <br />not waive any right he may have to compensation for the <br />reserved property and any improvements currently thereon, <br />the value thereof to be determined according to law at the <br />date of acquisition by the County. <br />IN WITNESS WHEREOF, th Developer has ca ed this <br />Agreement to be executed this day of 1986 <br />by the below authorized representatives. <br />11MINumb-I 1• .1, <br />66._,AUG 2 0 1086 <br />RO—B�R'�—J . VATLAND <br />BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, <br />FLORIDA <br />35 By <br />�6on C-7urlock, <br />Cha i rma rI pp <br />