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AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />AND <br />GRIFFON RESIDENCES, LLC <br />FOR <br />THE GRIFFON COMMUNITY <br />FOR THE CONSTRUCTION OF LIFT STATION IMPROVEMENTS <br />THIS AGREEMENT by and between INDIAN RIVER COUNTY, a political subdivision of the State of <br />Florida, the address of which is 1801 27th Street, Vero Beach, Florida 32960 (hereinafter the "COUNTY") <br />and GRIFFON RESIDENCES, LLC, a Delaware Limited Liability Company, the address of which is 500 Office <br />Park Drive, Suite 215, Birmingham, Alabama 35223 (hereinafter the DEVELOPER) is effective upon <br />execution by the two parties. <br />WHEREAS, the DEVELOPER, in conjunction with the construction of improvements at THE GRIFFON <br />COMMUNITY, located at 7590 20T" Avenue (SR 60), whose legal description is attached as Exhibit "A" (the <br />"Subject Property"), is assisting the COUNTY in constructing water and wastewater facilities to serve the <br />proposed community; and <br />WHEREAS, the DEVELOPER was notified that capacity improvements to existing Lift Station No. 5 will <br />be necessary to serve both the existing lift station service area and the proposed Griffon Community; and <br />WHEREAS, constructing improvements to existing Lift Station No. 5 will benefit both the DEVELOPER <br />and the COUNTY by upgrading existing infrastructure and avoiding the operation and maintenance cost <br />increases associated with adding another lift station; and <br />WHEREAS, pursuant to Section 918.05, the Code of Indian River County (the "Code"), the COUNTY <br />requires the DEVELOPER to provide the utility improvements to connect to the regional sewer system; <br />and <br />WHEREAS, the DEVELOPER, pursuant to Section 201.11, of the Code, agrees to reimburse the <br />COUNTY, as provided herein, a share of the cost of constructing the improvements necessary to increase <br />the capacity of the lift station to serve the Subject Property; and <br />WHEREAS, the COUNTY's cost associated with replacing the pumps is to not exceed $42,000.00 <br />NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good <br />and valuable consideration, the COUNTY and DEVELOPER agree as follows: <br />-Page 1 - <br />FAUTILITIES\00 UTILITY - AGENDA TEMPLATE & GUIDELINES\2023 AGENDA ITEMS\032823\GRIFFON DEVELOPERS AGREEMENI,21-0409 DEV AGREEMENT GRIFFON REV 022221 DOCX <br />