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IMPACT FEE PAYMENT DEFERRAL CONTRACT THIS IMPACT FAE PAYMENT DEFERRAL CONTRACT (hereinafter "Contract") is entered into as of the day of Te h d ,pj at (hereinafter "Effective Date") by and between Indian River County, Florida, a political subdivision of the State of Florida ("County") and Kiducation, Inc., a Florida corporation, (hereinafter "Owner"). WHEREAS, Owner applied for a building permit for the property located at 1728 and 1730 24th Street, Vero Beach, FL, 32960, as further described in Exhibit "A" attached (the "Property"); and WHEREAS, during the review process it was discovered that a prior owner of the Property had changed the use of the Property from an assisted living facility to a preschool, but failed to pay the increase in impact fees for the Property as a result of the change in use; and WHEREAS, Owner is currently using the Property for a preschool use with approximately 6,461 square feet; and WHEREAS, the impact fees owed to County as a result of the change from adult living facility to preschool are $7,930.78; and WHEREAS, after consideration at a public meeting, the Indian River County Board of County Commissioners voted that based upon the extraordinary circumstances, the Board would allow the Owner to defer payment of the impact fees until the Property was sold to another owner, NOW, THEREFORE, in consideration of the foregoing and the mutual benefits, undertakings and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: Section 1. Adoption of "Whereas" Clauses. The above recitals are true and correct and are incorporated herein. Section 2. No Admission of Guilt or Fault. Neither the County nor the Owner admit any fault or guilt with respect to the. lack of payment of the impact fees owed for the Property. Section 3. Impact Fee Deferral. The impact fee owed for the use of the Property as a preschool use with approximately 6,461 square feet is $7,930.78, which shall be deferred without interest until the change in ownership of the Property. 3120190008847 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH, CLERK OF COURT INDIAN RIVER COUNTY FL BK: 3183 PG: 2002 Page 1 of 4 2/13/2019 8:39 AM FAAftomeylDylaOmpact Fee Payment Delemal Contract.docx COUNTY ATTORNEY'S OFFICE INDIAN RIVER COUNTY 1301 27th Street Vero !Dodi, Florida 32960 Page 1 of 4