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• WWD 6-6-19 EXHIBIT"C" ANNEXATION AGREEMENT THIS ANNEXATION AGREEMENT (this "Agreement"), entered into this /1-�11� day of \/ t1 vFQ_ , 2019, between the City of Fellsmere, Florida, a political subdivision of the State of Florida (hereinafter referred to as "City") and Ro-Ed Corp. as successor by merger with American Mutual Corp., a Florida Corporation, recorded in Official Records Book 467, Page 462 of the Public Records of Indian River County, Florida (hereinafter referred to as "Owner", which includes it's grantees, successors or assigns in interest). RECITALS WHEREAS, Owner owns property (hereinafter referred to as the "Property") in Indian River County, Florida, as more particularly described in Exhibit "1" attached hereto and incorporated herein by this reference; and WHEREAS, Owner is not a developer or dealer in real property, and as such does not intend to actively participate in the development or subdivision of the Property, but rather, from time to time, will sell portions of the Property to third parties for development; and WHEREAS, Owner desires to sell a portion of the Property to a third party Buyer who intends to develop a portion of the Property under the City's PDD Planned Development District regulations as described in Exhibit "2", attached hereto and incorporated herein by this reference, consisting of 4.876 acres, more or less, for a tractor sales and supply facility(hereinafter referred to as the "Development or Project"); and WHEREAS, as a part of its plan for annexation, comprehensive plan amendment, rezoning, and preliminary and final development plan of the Property, the Owner and City wish to plan for compatibility with the surrounding area and assure the installation of proper public and private facilities and services; and WHEREAS, the City is authorized to regulate development of the Property. NOW, THEREFORE, the parties agree as follows: (00104802.DOC.1 } EXHIBIT"C" To ORDINANCE No.2019-03 - Page 1of5 -