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AGREEMENT RE MAINTENANCE - GRAND HARBOR ESTUARY SYSTEM <br />f7- ;5 <br />-'HIS AGREEMENT entered into this 6th day of January <br />19 87 �, by and between GRAND HARBOR, INC., a Florida corporation <br />and GRAND HARBOR PROPERTY OWNER'S ASSOCIATION, INC., a Florida <br />corporation, (hereinafter "OTrmers") and INDIAN RIVER COUNTY, a <br />political subdivision of the State of Florida (hereinafter <br />"County"). <br />WHEREAS, GRAND HARBOR, INC., is the owner and developer of a <br />Development of Regional Impact known as GRAND HARBOR, which <br />development is subject to a Development Order entered by County on <br />October 23, 1985, being Resolution 85-128; and <br />WHEREAS, on October 20, 1986, the Indian River County Board <br />of County Commissioners granted Conceptual Planned Residential <br />Development Plan Approval to GRAND HARBOR, INC., and, at the same <br />meeting, granted approval of the Estuarine Plan in accordance with <br />Condition Number 8 of the Development Order; said approval of the <br />Estuarine Plan was subject to conditions, amongst which was the <br />requirement that GRAND HARBOR, INC. submit an Operation Plan for <br />future maintenance of the estuarine waterway and rotary ditch <br />system. <br />WHEREAS, said Operation Plan has been submitted by GRAND <br />HARBOR, INC., and is attached hereto as Exhibit A; and <br />WHEREAS, the purpose of this Agreement is to have all parties <br />acknowledge the existence of said Operation Plan and their <br />relative obligations thereunder and to provide further assurances <br />to County that said obligations will be met in a timely manner by <br />Owners. <br />FOR AND IN CONSIDERATION OF THE COVENANTS EXPRESSED HEREIN, <br />THE PARTIES AGREE AS FOLLOWS: <br />1. MANAGEMENT PLAN: County acknowledges the submission of <br />the Operation Plan attached hereto as Exhibit A. <br />2. OBLIGATION_ TO MAINTAIN: Owners, jointly and severally, <br />agree that as maintenance of the estuary system becomes necessary, <br />that said maintenance shall be performed in a timely manner by <br />them at no expense to County, all in accordance with the Operation <br />Plan. <br />3. FAILURE BY OWNERS: Should County determine that <br />maintenance contemplated by the Operation Plan is required, but <br />said maintenance is not being performed by Owners in a timely <br />manner, then County shall give written notice to Owners (certified <br />mail, return --receipt requested) specifying the nature of the <br />maintenance to be performed and specifying a time (not less than <br />10 days) within whi^.h the Owners must perform such maintenance <br />work or other activity. Should Owners fail to perform such work <br />or other act.:4.vity within said time limit, then the County shall <br />have the right to undertake such maintenance work or other <br />activity, and the cost of same shall be chargeable to Owners. <br />4. BUDGET: The GRAND HARBOR PROPERTY OWNERS ASSOCIATION, <br />INC., agrees that it shall prepare an Annual Budget, which, when <br />adopted, shall provide for sufficient assessments to fund annual <br />maintenance activities as may be reasonably anticipated, and to <br />fund reserves for such extraordinary maintenance as may be <br />reasonably anticipated. <br />