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ASSUMPTION OF OBLIGATION AGREEMENT <br />FOR THE DEVELOPMENT ORDER APPROVING THE <br />GRAND HARBOR DEVELOPMENT OF REGIONAL IMPACT <br />- RESOLUTION 85-128 AS AMENDED. <br />This agreement entered into this 21st day of February , <br />1989, by and between Indian River County, political subdivision of <br />the State of Florida and River Harbor, Inc., successor in interest <br />to the development known as Grand Harbor pursuant to Resolution <br />85-128 as amended for the Grand Harbor Development of Regional <br />Impact. <br />WHEREAS, the Board of County Commissioners of Indian River <br />County, Florida, on the 23rd day of October, 1985, approved a <br />Development Order for the Grand Harbor Development of Regional <br />Impact, and, <br />WHEREAS, the Development Order has been subsequently modified <br />and all modifications thereto are on file with the Board of County <br />Commissioners of Indian River County, Florida, and, <br />WHEREAS, pursuant to the Development Order Section 4 requires <br />Notice of Transfer of all or a portion of the property be filed with <br />the Indian River County Board of County Commissioners prior to <br />transfer and that the transferee assume in writing in a form <br />acceptable to the county attorney of any and all applicable <br />commitments, responsibilities, and obligations pursuant to the <br />Development Order, and, <br />WHEREAS, it is the intent of this agreement to fulfill the <br />obligations of the Development Order Section 4. <br />NOW THEREFORE, as a condition to the approval of the transfer by <br />the Board of County Commissioners of Indian River County, Florida, <br />River Harbor, Inc., the successor in interest to the Grand Harbor <br />Development of Regional Impact, hereby agrees to and does assume all <br />applicable commitments, responsibilities, and obligations set forth <br />pursuant to the Development Order for the Grand Harbor Development <br />of Regional Impact Resolution 85-128 as amended to date and Indian <br />River County agrees that the Development Order is in good standing <br />and is in full force and effect and that the successor in interest <br />has fulfilled all of the notice and transfer provisions of the <br />Development Order. <br />