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BK: 3269 PG: 918 WHEREAS, by virtue of taking title to Parcel 3, DT Commons has succeeded to the interest of DVLLLP under the Collateral Development Agreement with respect to Parcel 3; and WHEREAS, the Collateral Development Agreement was further amended by that Second Amendment to Collateral Development Agreement dated November 17, 2005, and recorded in Official Record Book 1961, Page 985, Public Records of Indian River County and that Third Amendment to Collateral Development Agreement Terminating Certain Use Restrictions Set Forth in the Collateral Development Agreement and Terminating the Second Amendment to Collateral Development Agreement With Respect to City Property, dated July 21, 2015, and recorded in Oficial Record Book 2878, Page 477, Public Records of Indian River County (the Collateral Development Agreement and the First, Second and Third Amendments to same are hereby collectively referred to as the "Collateral Development Agreement"); and WHEREAS, in February, 2008, the County succeeded to the interest of the Dodgers in the Collateral Development Agreement; and WHEREAS, DT Commons desires to amend the Collateral Development Agreement in order to develop Parcel 3 and the County has agreed to so amend the Collateral Development Agreement, subject to the terms and conditions hereinafter set forth. NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, DT Commons and the County agree as follows: 1. Incorporation of Recitals. The foregoing recitals are true and correct and are incorporated herein as if set forth in full. 2. Release from Collateral Development Agreement: DT Commons and the County hereby acknowledge and agree that Parcel 3 is hereby released from the Collateral Development Agreement for all purposes such that Parcel 3 is no longer subject to the provisions of the Collateral Development Agreement_ 3. Imposition of Covenants and Restrictions: DT Commons and the County hereby acknowledge and agree that Parcel 3 shall be owned, held, transferred, sold, conveyed, developed, and occupied subject to the covenants and restrictions contained herein, which covenants and restrictions shall run with Parcel 3 and shall be binding upon DT Commons, its heirs, successors and assigns. 4. Permitted Uses: Permitted uses on Parcel 3 shall include retail, restaurant, and entertainment facilities, hotel, multi -family, residential, personal services and professional offices. Other uses permitted by the City of Vero Beach zoning code may be developed and constructed on Parcel 3 provided any such other use shall be compatible with the wholesome, family traditions. of Historic Dodgertown. DT Commons and the County acknowledge and agree that retail, restaurant, entertainment facilities, hotel, multi -family residential, personal services, and professional office usages are compatible with the wholesome, family traditions of Historic Dodgertown. 2