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t - a° n0 AGREEMENT FOR THE DEDICATION OF RIGHT-OF-WAY THIS AGREEMENT is made and entered into this 18 day of November , 2014, by and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, 1801 27th Street, Vero Beach, FL 32960 ("County") and PROVIDENCE POINTE VERO BEACH LLC, a Florida limited liability company, 660 Reef Road, Vero Beach, FL 32963 ("Developer"). WITNESSETH: WHEREAS, Developer proposes to develop a "Planned Development/Traditional Neighborhood Design" (PD/TND) Community located between 491h Street and 53`d Street, along and West of 58th Avenue in Indian River County, Florida, to be known as Providence Pointe, to include a mix of residential, commercial, hotel, recreational, and other uses on real property which is adjacent to and south of 53`d Street, west of 58th Avenue, more particularly described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. WHEREAS, Developer has acquired a second parcel of property, adjacent to and north of 53`d Street, and west of 58th Avenue, more particularly described as follows: SEE EXHIBIT "B" ATTACHED HERETO AND MADE A PART HEREOF. WHEREAS, the County and the Developer share mutual goals and have determined that they can assist each other with respect to right-of-way acquisition and the construction and expansion of 53`d Street west of 58th Avenue; and WHEREAS, the Developer desires to dedicate to the County a portion of the property which is described on Exhibit "B" hereto for right-of-way purposes, and the County desires to accept this dedication, according to the terms and conditions stated in this Agreement; NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, and covenants stated herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the County and the Developer hereby agree as follows: 1. Recitals: The foregoing recitals are incorporated as if fully restated herein. 2. In conjunction with the Developer's development of Providence Pointe, and in time to coincide with the Developer's construction of the four lane extension of 53`d Street west of 58th Avenue, for which construction the County has agreed to share expenses pursuant to a separate Developer's Agreement, the Developer shall dedicate by right-of-way deed free and clear of all ,liens and encumbrances, to the County, that property which is adjacent to the proposed 53`d Street extension, and which is described on Exhibit "C", which is attached to and made a part hereof.