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rage 1 ()ID a -- F I 546671 — t YLrr i -t! E_.: t AGREEMENT FOR RESERVATION OF ROAD RIGHT-OF-WAY I THIS AGREEMENT, made and entered into this 22nd • day of March , 1988, by and between Indian RTver County, a politicasubdivision of the State of Florida (hereafter Grantee) , and United Irrigation, Inc- a Florida corporation, its successors, and assigns (hereafter "Grantor") ; WHEREAS, Grantor is the owner of certain property within Indian River County located on land more particularly described in Exhibit "A", attached hereto and incorporated ! herein; and t WHEREAS, Grantor wishes to further develop said property In accordance with a site plan requiring Indian i River County approval ; and 1 i WHEREAS, as a condition of the site plan approval, i Indian River County desires certain assurances regarding the . reservation of a portAon of the aforementioned property. E more particularly desct`ibed in Exhibit "B", attached hereto I and incorporated herein, for future right-of-way purposes; f 1 and { 1 i WHEREAS, Grantor recognizes that the County will : purchase said property as described in Exhibit "B" when such I acquisition becomes necessary for roadway expansion or improvements incidental to roadway expansion; and WHEREAS, Grantor, desiring that this Reservation of Right-Of-Way resolve certain questions pertaining to said . property, is willing to co:rmit to the covenants, conditions, • and terms further described herein; • • NON, THEREFORE, for and in consideration of the benefits accruing to Grantor's property from site plan approval and other good and valuable consideration, the ; sufficiency of which are hereby acknowledged, and in an effort to accomplish the above-stated objectives, Grantor _ expressly represents and agrees on behalf of itself, its ' successors, its legal representatives and assigns, as follows: _• ,-. 1 . Grantor will not construct or cause to be • �',$ constructed, built or placed upon the reserved parcel of I L i land described herein as Exhibit "B", any improvement which c: � C would increase the value of said parcel or of the remaining • F ;: ,'- o o property described in Exhibit "A" herein or any site-related c. : improvement which is required by law to serve the principle 4 r y E :" ="1 use on the property except as shown on Site Plan No. 3 :� c, AA-87-05-75 as it may be approved in the future. All ;""r' -s future structures shall be set back from the reserved parcel in conformance with setbacks established in the zoning code • r. `?i ;c. as if the reserved parcel were part of the right-of-way. 1 '- - » _ 2. Grantor acknowledges and agrees with Indian _ River County that the purpose of this agreement is to prevent improvements or encroachments into the property .i i \J reserved for future right-of-way, and Grantor further agrees ; to forego and waive any and all damages or compensation for • the value of any intentional or incidental improvements which are made to the reserved property, except as described herein. . , I 11 1 • t 0.R. 795 PG 0302 http://ori.indian-river.org////Document/GetDocumentForPrintPNG/?request=AQAAANCM... 1/4/2017 ,11a