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MEMORANDUM OF UNDERSTANDING FOR CERTAIN PHASED DEVELOPMENTS BETWEEN DEVELOPER AND INDIAN RIVER COUNTY,FLORIDA This Memorandum of Understanding (hereinafter "MOU") is made and entered into by and between , a Florida , its successors and assigns, ("Developer") and Indian River County, Florida, a political subdivision of the State of Florida, ("County"). Recitals WHEREAS, Developer is in the process of developing a development known as ("Name of Development") in Indian River County; and WHEREAS, the County has agreed to permit [description of individual" project] in [Name of Development] prior to the Developer's conveyance of the water and sewer systems to the County, subject to the terms and conditions of this Memorandum of Understanding; NOW, THEREFORE, in consideration of the mutual covenants contained herein'and other good and valuable consideration, the Developer and County hereby agree as follows: 1. The foregoing recitals are true and incorporated as if fully restated herein. 2. Developer agrees that all offsite and onsite water and sewer utilities which serve the [Name of Development] are and will remain privately owned and maintained by Developer until the offsite and onsite water and sewer utilities are completed pursuant to Utility Construction Permit ; are dedicated to Indian River County by a bill of sale; and are accepted by the County Utilities Department and proper security has been posted for the one-year warranty. Until such time as these offsite and onsite utilities (under UCP are dedicated to the County and accepted by the County Utilities Department, and acceptable warranty security has been posted with the County, Developer shall be responsible for any and all maintenance and repairs which may be required. 3. Developer agrees that the one-year warranty period for all onsite and offsite water and sewer utilities for the [Name of Development] (under UCP will commence from the effective date of the Bill of Sale.