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RELEASE OF EASEMENT FOR DRAINAGE <br />AND SATISFACTION OF DEVELOPER'S AGREEMENT <br />This RELEASE OF EASEMENT FOR DRAINAGE AND SATISFACTION <br />OF DEVELOPER'S AGREEMENT (the "Release") is made as of the day <br />of April 2023, by INDIAN RIVER COUNTY, a political subdivision of the State <br />of Florida, ("County") having a mailing address of 1801 2711 Street, Vero Beach, <br />FL 32960; in favor of Grace Baptist Church of Vero Beach, Inc., ("Grace <br />Baptist") Florida not for profit corporation, having a mailing address of 1285 <br />431d Avenue, Vero Beach, FL 32960. <br />WHEREAS, on January 6, 2004, the County and Grace Baptist entered <br />into a Developer's Agreement concerning stormwater treatment for proposed <br />improvements to 431d Avenue. The Developer's Agreement is recorded in OR <br />Book 1681, Page 897, Public Records of Indian River County; and <br />WHEREAS, on December 19, 2003, Grace Baptist conveyed to the <br />County, an Easement for drainage recorded in OR Book '1681, Page 1788, <br />Public Records of Indian River County; and <br />WHEREAS, on April 15, 2004, Grace Baptist conveyed to the County a <br />Drainage Easement Agreement recorded in OR Book 1721, Page 487, Public <br />Records of Indian River County; and <br />WHEREAS, on March 5, 2019, the County and Grace Baptist entered into <br />a First Addendum to Developer's Agreement (not recorded) that stated the <br />County was no longer in need of the above described Drainage Easements and <br />that Grace Baptist would return $30,000 to the County that the County had paid <br />to Grace Baptist for the Drainage Easements; and <br />WHEREAS, Grace Baptist has repaid the $30,000 in full and the County <br />wishes to release the Easement for drainage and declare the Developer's <br />Agreement, the Addendum and the Drainage Easement Agreement satisfied. <br />NOW THEREFORE, in consideration of mutual covenants and <br />agreements stated in the Developer's Agreement and First Addendum and for <br />other sufficient consideration received and acknowledged by each Party, the <br />County does declare as follows: <br />1. The terms of the Developer's Agreement entered into by the County and <br />Grace Baptist dated January 6, 2004 recorded in OR Book 1681, Page <br />897, Public Records of Indian River County is hereby satisfied as to all <br />parties. <br />1 42 <br />