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WHEREAS, any special assessment not paid within said ninety (90) day period shall bear interest beyond the due date at a rate established by the Board of County Commissioners at the time of preparation of the final assessment roll, and shall be payable in two (2) equal installments, the first to be made twelve (12) months from the due date and subsequent payments to be due yearly; and WHEREAS, after examination of the nature and anticipated usage of the proposed improvements, the Board of County Commissioners has determined that the following described properties shall receive a direct and special benefit from these improvements, to wit: Lots 13 through 17, Block R in Indian River Heights, Unit 8, as recorded in, Plat Book 7, Page 31 of the Public Records of Indian River County, SW h of SE k of Section 13, Township 33S, Range 39E, lying W of Old Dixie Highway and N of South Relief Canal, less W 160 FT of SW h of SE z and also less E 167 FT of W 327 FT of N 160 FT of SW h of SE h and also less additional Right -of -Way in Official Records Book 803, Page 1733, W 160 FT of SW hof SE z of Section 13, Township 33S, Range 39E and the E 167 FT of W 327 FT of N 160 FT of SW � of SE $ all lying N of Northerly Right -of -Way line of South Relief Canal, less following designated parcel, beginning at NW corner of W k of S k of SE h of Section 13, thence S 88 degrees, 41 minutes, 46 seconds E along N line of said S k 146 FT, thence S 72 degrees, 22 minutes, 26 seconds W 154.12 FT, more of less, to a point of W line of said S h of SE ', thence N 01 degrees, 03 minutes, 36 seconds E, along W line of S k of SE $ 50 FT to Point of Beginning and less Peterson Country Estates, Unit 1, as in Plat Book 1, Pages 12-77. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: 1. The foregoing recitals are affirmed and ratified in their entirety. 2. A project providing for paving and drainage improvements to 8th Avenue South of 2nd Street to South Relief Canal in Indian River Heights, Unit 8; heretofore designated as Public Works Project No. 8706 is hereby approved subject to the terms outlined above and all applicable requirements of Section 11-41, et seq. Indian River County Code of Laws and Ordinances. 12