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annexation of real property have been fulfilled, or will be fulfilled through compliance with this Agreement. NOW THEREFORE, in consideration of the exchange of mutual promises set forth herein, and other good and valuable consideration, the receipt and sufficient of which is hereby acknowledged, the City and the Owner agree as follows: 1. Recitals. The forgoing recitations are true and correct, and are incorporated herein by reference;and all exhibits to this Agreement as hereby deemed to be a part hereof. 2. Owners. The Owner represents that they hold fee simple title to the real property and have lawful authority to petition for the voluntary annexation of the property set forth herein. 3. Annexation. (a) The Citta hereby acknowledges that Owner has submitted a petition requesting the voluntary annexation of the real property by the City in accordance with Section 171.044, Florida Statutes, and the City agrees to consider and act upon the Annexation Petition. The Owner commits and agrees that while the Annexation Petition is voluntary, Owner is prohibited from withdrawing its petition and that to do so would result in a breach of this Agreement if annexation of the property is approved at second reading of the annexation ordinance on August 28, 2019, or such other date for second reading as established by the Sebastian City Council, but not later than August 28, 2020. The Owner and the City agree that the annexation ordinance shall be properly noticed in accordance with Section 171.044(2), Florida Statutes, and scheduled for second reading on August 28,2019. (b) In the event the Department of Economic Opportunity fails to support approval of the Future Land Use for the property, or the City fails to adopt the future land use set forth in this Agreement, the Owner reserves the right to request the City to take all necessary Exhibit 2 To Ordinance No.0-19-04 ANNEXATION AGREEMENT I'age3of13