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Page 1 of 5 <br />LEXHIBiL1,.J <br />_..! <br />546671 <br />AGREEMENT FOR <br />RESERVATION OF ROOD RIGHT-OF-WAY <br />THiS AGREEMENT, made and entered into this 22nd <br />day of March, by and between Indian WNWl <br />County, a politicasubdivision of the State of Florida <br />(hereafter Grantee), and United Irrigation, Inc- <br />a Florida corporation, Its successors, and assigns <br />(hereafter "Grantor"); <br />WHEREAS, Grantor is the owner of certain property <br />within Indian River County located on land more particularly <br />described in Exhibit "A", attached hereto and Incorporated <br />herein; and <br />WHEREAS, Grantor wishes to further develop said <br />property in accordance with a site plan requiring Indian <br />River County approval; and <br />WHEREAS, as a condition of the site plan approval, <br />Indian River County desires certain assurances regarding the <br />reservation of a por.t)[on of the aforementioned property. <br />more particularly desc 1bed in Exhibit "B", attached hereto <br />and incorporated herein, for future right-of-way purposes; <br />and <br />WHEREAS, Grantor recognizes that the County will <br />purchase said property as described in Exhibit "8" when such <br />acquisition becomes necessary for roadway expansion or <br />improvements incidental to roadway expansion; and <br />WHEREAS, Grantor, desiring that this Reservation <br />of Right -Of -Way resolve certain questions pertaining to said <br />property, is willing to commit to the covenants, conditions, <br />and terms further described herein; <br />NOW, THEREFORE, for and in consideration of the <br />benefits accruing to Grantor's property from site plan <br />approval and other good and valuable consideration. the <br />sufficiency of which are hereby acknowledged, and in an <br />effort to accomplish the above -stated objectives, Grantor <br />expressly represents and agrees on behalf of itself, its <br />successors, its legal representatives and assigns. as <br />follows: <br />>. 1. Grantor will not construct or cause to be <br />"' eT.. constructed, built or piaced upon the reserved parcel of <br />i. <br />:i land described herein as Exhibit "B", any improvement which <br />.. r G:�^ would increase the value of said parcel or of the remaining <br />;- e o property described in Exhibit "A" herein or any site -related <br />`c..: improvement which Is required by law to serve the principle <br />is ' ° '� use on the property except as shown �on Site Plan No. <br />1: t: ° . e AA -87-05-75 as it may be approved in the future. Ail <br />�°`-' g future structures shall be set back from the reserved parcel <br />e,t ^•21 in conformance with setbacks established in the zoning code <br />^1;:, as if the reserved parcel were part of the right-of-way. <br />. _ 2. Grantor acknowledges and agrees with Indian <br />River County that the purpose of this agreement Is to <br />prevent improvements or encroachments into the property <br />N.) reserved for future right-of-way, and Grantor further agrees <br />to forego and waive any and all damages or compensation for <br />the value of any intentional or incidental improvements <br />which are made to the reserved property, except as described <br />herein. <br />1 <br />O.R. 795 PO 0302 <br />http://ori.indian-river.org////Document/GetDocumentForPrintPNG/?request=AQAAANCM... 1/4/2017 <br />P58 <br />