1/4/2021 2:31:44 PM
11/28/2018 11:05:10 AM
Official Document Type
Agenda Item Number
Second addendum to agreement exchange conservation easement for land
Indian River Mall Lot 5
Kinner and Siew Properties ; Indian River Mall
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SECOND ADDENDUM TO AGREEMENT <br />BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA AND <br />REDEVGROUP, INC. <br />THIS SECOND ADDENDUM is made and entered into this 13thday of Novembeg <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"), which Agreement was amended by that First Addendum thereto dated <br />September 11, 2018("First Addendum"), and <br />WHEREAS, County and Developer desire to further amend the Agreement as described <br />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 3 of the Agreement is hereby deleted and replaced with the following <br />Section 3: <br />Section 3: Provided Developer has delivered to County Fee Simple title to one <br />of the properties described above, and has recorded the Declaration of <br />Covenants described in Section 4 below, upon request by Developer (or a <br />related entity owned and controlled by the same principal owners of <br />Developer), County shall release Lot 5 from the Development Order and from <br />the Conservation Easement by execution of a document ("Release"), which <br />shall be recorded in the public records of Indian River County; Florida. In <br />recognition of and consideration for the time, effort, and expense of <br />Developer to satisfy the requirements of Section 2 above, thereby resulting in <br />the public benefits to be derived therefrom, County shall not, for a period of <br />20 years, release Lot 5 from the Development Order or from the Conservation <br />Easement except upon request of Developer or a related entity, as described <br />above. <br />3. Section 4 of the Agreement is hereby amended to read as follows: <br />Section 4: Simultaneously with the recording of the Release described in <br />Section 3 above, Developer shall record a Declaration of Restrictive <br />
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