1/4/2021 11:22:54 AM
9/19/2018 2:24:08 PM
Official Document Type
Agenda Item Number
First Addendum to amend agreement
Indian River Mall Lot 5
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FIRST ADDENDUM TO AMEND <br />AGREEMENT <br />BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA AND <br />REDEVGROUP, INC. <br />THIS FIRST ADDENDUM is made and entered into this 11 day of sepember, <br />2018, by and between Indian River County, Florida, a political subdivision of the State of <br />Florida, 1801 27th Street, Vero Beach, FL 32960, ("County"), and REDEVGROUP, INC., a <br />Florida Profit Corporation, 1826 US Highway 1, Vero Beach, FL 32960 ("Developer"). <br />WITNESSETH <br />WHEREAS, County and Developer entered into an Agreement dated June 12, 2018, <br />("Agreement"), and <br />WHEREAS, County and Developer desire to amend the Agreement as described herein; <br />NOW, THEREFORE, for in consideration of the mutual promises and covenants <br />contained herein, the sufficiency of which is hereby acknowledged, County and Developer <br />hereby agree as follows: <br />1. The foregoing recitals are incorporated as if fully restated herein. <br />2. Section 2 of the Agreement is hereby amended to read in its entirety: <br />On or before December 20, 2018, Developer shall cause to be conveyed to the <br />County title to one of the following described properties; free and clear of all <br />liens, save property taxes and assessments which are not due: <br />Option 1: "The Alice Siew Property", See Exhibit "A", attached <br />hereto and made a part hereof <br />Option 2: "The Kinner Property", See Exhibit `B" attached hereto <br />and made a part hereof, together with $291,819.00. <br />Option 3: That portion of the Alice Siew Property shown and <br />described on Exhibit "C-1" attached hereto and made a part hereof. <br />Simultaneously, Developer shall convey to the Indian River Land Trust <br />the Kinner Property described above, subject to a conservation easement <br />in favor of Indian River County over the western portion of the Kinner <br />Property; as shown on Exhibit "C-2". <br />3. Except as amended or restated by this Addendum, the Agreement and all of its <br />terms and conditions remains in full force and effect. <br />
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