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FIRST ADDENDUM TO DEVELOPER'S AGREEMENT <br />THIS FIRST ADDENDUM TO DEVELOPER'S AGREEMENT ("Addendum") is <br />made as of this 5th day of March , 2019, by and among Indian River County, <br />Florida ("County") and Grace Baptist Church of Vero Beach, Inc. ("Grace Baptist"). <br />RECITALS <br />This Addendum is based upon the following recitals: <br />A. County and Grace Baptist entered into a Developer's Agreement on January 6, <br />2004 ("Agreement"), recorded in Official Record Book 1691, Page 897, Public <br />Records of Indian River County. <br />B. Pursuant to the Agreement, the County was to direct stormwater runoff from 43rd <br />Avenue to a stormwater retention pond on Grace Baptist's property, located at <br />1285 43rd Avenue, Vero Beach, FL 32960, (the "Grace Baptist Property"). <br />C. As consideration for acceptance of the stormwater runoff, and for maintenance <br />of the retention pond, the County agreed to pay, and did pay, to Grace Baptist <br />$35,000.00. <br />D. Grace Baptist spent $5,000.00 for engineering services in reliance upon the <br />Agreement. <br />E. The roadway improvement plans for 43rd Avenue have been changed, and <br />stormwater retention is no longer required on the Grace Baptist property. <br />F. Accordingly, the parties wish to amend the Agreement to provide for a structured <br />repayment of the consideration paid by the County. <br />NOW THEREFORE, in consideration of mutual covenants and agreements stated in the <br />Agreement and for other sufficient consideration received and acknowledged by each <br />party, County and Grace Baptist agree to amend the Agreement as follows: <br />1. RECITALS. All recitals are true and correct and are incorporated herein. <br />2. DEFINED TERMS. Except for those terms expressly defined in this Addendum, <br />all initially capitalized terms will have the meanings ascribed to them in the <br />Agreement. <br />3. COMMENCEMENT DATE. Beginning April 1, 2019, and continuing on the same <br />date each year for five consecutive years, Grace Baptist shall pay to the County <br />$6,000.00 until the full amount of $30,000.00 is repaid in full, as full and fair <br />repayment to the County for the funds paid by the County pursuant to the terms <br />of the Agreement. <br />1 <br />