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A TRUE COPY CERTIFICATION ON LAST PAGE J.R. SMITH, CLERK DEP AGREEMENT NUMBER: S0958 FCT PROJECT NUMBER: 11-050-FFI 1 PROJECT NAME: SEBASTIAN HARBOR PRESERVE CSFA NUMBER: 37.078 GRANT AGREEMENT THIS GRANT AGREEMENT ("Agreement") is entered into by and between the FLORIDA COMMUNITIES TRUST ("FCT"), a non -regulatory agency and instrumentality within the State of Florida, Department of Environmental Protection ("Department"), and INDIAN RIVER COUNTY, a Florida local government ("Recipient"). THIS AGREEMENT IS ENTERED INTO PURSUANT TO THE FOLLOWING: WHEREAS, the intent of this Agreement is to impose terms and conditions on the use of the proceeds of certain bonds, hereinafter described, and the lands acquired with such proceeds ("Project Site"), that are necessary to ensure compliance with all Florida law, federal income tax law, and provisions of Sections 259.105, 259.1051 and Chapter 380, Part III, Florida Statutes ("F.S."); WHEREAS, Chapter 380, Part III, F.S., the Florida Communities Trust Act, creates a non - regulatory agency within the Department, which will assist local governments in bringing into compliance and implementing the conservation, recreation and open space, and coastal elements of their comprehensive plans or in conserving natural resources and resolving land use conflicts by providing financial assistance to local governments and nonprofit environmental organizations to carry out projects and activities authorized by the Florida Communities Trust Act; WHEREAS, the Florida Forever Revenue Bonds (`Bonds") are issued as tax-exempt bonds, meaning the interest on the Bonds is excluded from the gross income of bondholders for federal income tax purposes; WHEREAS, Rule 62-818, Florida Administrative Code ("F.A.C.") sets forth the procedures for the evaluation and selection of lands proposed for acquisition and Rule 62-819, F.A.C. sets forth the acquisition procedures; WHEREAS, on August 25, 2011, the FCT Governing Board scored, ranked and selected projects to receive approval for funding; WHEREAS, the Recipient's Project ("Project"), described in an application submitted for evaluation, was selected for funding in accordance with Rule 62-818, F.A.C., and by executing this Agreement the Recipient reaffirms the representations made in its application; WHEREAS, Rule 62-818.009, F.A.C. authorizes FCT to impose conditions on those FCT applicants whose projects are selected for funding; and DEP Agreement No. S0958, Page 1 of 24 FCT Project No. 11-050-FFI l Pre -Acquired Project Site