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AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND VERO BEACH MOB, LLC FOR VERO BEACH MEDICAL OFFICE BUILDING FOR THE CONSTRUCTION OF OFF-SITE UTILITIES THIS AGREEMENT ("Agreement") by and between INDIAN RIVER COUNTY, a political subdivision of the State of Florida, the address of which is 180127th Street, Vero Beach, Florida 32960 (hereinafter the "COUNTY") and VERO BEACH MOB, L.L.C., a Florida Limited Liability Company, the address of which is 435 5TH AVE N, STE 200, ST. PETERSBURG, FL 33701 (hereinafter the "DEVELOPER") is effective upon execution by the two parties. WHEREAS, the DEVELOPER, in conjunction with the construction of improvements at Vero Beach Medical Office Building, located at 3955 Indian River Boulevard, whose legal description is attached as Exhibit "A" (the "Subject Property"), is constructing an off-site force main as specifically depicted in Exhibit "B"; and WHEREAS, pursuant to Section 918.05, the Code of Indian River County (the "Code"), the COUNTY, requires the DEVELOPER to provide the utility improvements to connect to the regional water main and force main. The COUNTY, pursuant to Section 201.11, of the Code, agrees to reimburse the DEVELOPER, as provided herein, for the cost of oversizing off-site utilities, NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good and valuable consideration, the COUNTY and DEVELOPER agree as follows: 1. OFF-SITE UTILITIES: The DEVELOPER shall construct the necessary off-site utilities described herein as directed by the Indian River County Utilities Department ("IRCDUS"). The COUNTY shall reimburse the DEVELOPER for installing a six-inch diameter force main along the east side of Indian River Boulevard from the north east corner of 41st Street and Indian River Boulevard south to the northern limits of the Subject Property, a distance of approximately 785 feet, as depicted in Exhibit "B" (the "Force Main"). Within 30 calendar days of acceptance of the bill of sale for the Force Main and submittal of the necessary maintenance security, COUNTY shall reimburse DEVELOPER nineteen percent of the estimated installation cost of the Force Main, as set forth in Exhibit "C". The COUNTY shall pay no more than $6,416.51 for the Force Main. Page 1