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<br />IN THE RECORDS of
<br />a(� JEFFREY K. rARTON
<br />I CLERK CIRCUIT COURT
<br />5 �S AGREEMENT INDIAN RIVER CO., FLA
<br />I This Agreement made this -"23 day of L/ c2,t c -Z 199 , by and
<br />between Parsegate Properties, Inc., a Florida corporation, (hereinafter referred to as
<br />i "Parsegate"), whose address is 100 Mesa Park Boulevard, Fellsmere, Florida 32948, and
<br />Indian River County, a political subdivision of the State of Florida, whose address is
<br />1840 25th Street, Vero Beach, Florida 32960, (hereinafter referred to as "IRC").
<br />WTTNESSTH:
<br />WHEREAS, Parsegate is the owner of certain real property located in Indian
<br />River County, Florida, more particularly described in Exhibit "A", attached hereto and
<br />made a part hereof, (the "Property"); and
<br />WHEREAS, TRC holds an interest in the Property by virtue of that certain road
<br />right-of-way Reservation (the "Reservation"), given in favor of the Trustees Internal
<br />Improvement Fund in Deed Book 32, Page 417, Public Records of Indian River County,
<br />Florida; and
<br />WHEREAS, part of the Reservation is being used for the road improvement
<br />known as County Road 512 ("CR 512"), and approximately the north 40 feet remains
<br />unimproved, to the extent it is not being used as a public right-of-way; and
<br />WHEREAS, Parsegate acknowledges the right-of-way of IRC and its authority to
<br />govern the use of the Property within the Reservation for the construction of road
<br />improvements in the future; and -
<br />WHEREAS, Parsegate is the developer of Mesa Park, a sports and entertainment
<br />complex of which the Property is part and parcel, the Property comprising the main
<br />entranceway to Mesa Park from CR 512; and
<br />WHEREAS, Parsegate, in the development of Mesa Park, has utilized a portion of
<br />the Property within the Reservation to construct improvements, other than the paved
<br />entranceway, which include parts of two retention ponds ("the Ponds") as permitted by
<br />The St. John's River Water Management District, and signage ("the Mesa Park Sign");
<br />and
<br />WHEREAS, IRC contemplates that in the future it may be of public necessity to
<br />construct a frontage road parallel to CR 512 and immediately contiguous to the north
<br />boundary of the Reservation, which may require the removal and/or filling of those
<br />parts of the Ponds within the Reservation and/or relocation of the Mesa Park Sign;
<br />FCOA7
<br />IlARTiJN,
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