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ra • <br />40 <br />C <br />i <br />WHEREAS, IRC is agreeable to the Ponds and the Mesa Park Sign as constructed <br />remaining within the Reservation until such time, if ever, that the frontage road is <br />constructed, so long as Parsegate is agreeable to removing and/or relocating the <br />improvements at Parsegate's sole cost, and <br />WHEREAS, Parsegate is willing to do so for IRC's permission to allow the Ponds <br />and Mesa Park Sign to remain within the Reservation, until such time as Parsegate is <br />advised otherwise by IRC. <br />THEREFORE, the Parties agree as follow: <br />1. The above recitations are incorporated herein as if specifically set forth. <br />2. IRC agrees to the existing locations of the Ponds and the Mesa Park Sign <br />within the Reservation, subject to their potential removal and/or <br />relocation as provided herein. <br />3. In the event that IRC shall notify Parsegate, in writing, one (1) year in <br />advance of commencement of construction, of its intention to either <br />expand existing roadway or construct new roadway within the <br />Reservation which requires the removal or relocation of the Ponds and/or <br />the Mesa Park Sign, Parsegate shall undertake the removal or relocation <br />and acquire any St. John's River Water Management District ("SJRWMD") <br />permitting as expeditiously as possible so as not to impede or impair the <br />proposed expansion or construction by IRC. Parsegate shall be solely <br />responsible for all costs related to the removal or relocation, and any <br />SJRWMD permitting, (the "Relocation Costs"). Parsegate agrees that in the <br />event that SJRWMD Permitting is unsuccessful, IRC shall bear no risk or <br />liability for any losses or expenditures sustained by Parsegate, and any <br />claims for any such losses or expenditures are hereby expressly waived by <br />Parsegate. <br />4. Anything herein to the contrary notwithstanding, Parsegate's financial <br />obligation to any expansion or construction of new roadway within the <br />Reservation shall not exceed, other than the Relocation Costs, its prorata <br />share on the same basis as any other contiguous land owner would bec'i <br />charged. ry <br />rn <br />5. Parsegate agrees that this agreement is binding on the Property, is cn <br />appurtenant thereto, and runs with the land, and shall be recorded in the <br />Public Records of Indian River County, Florida. N <br />p TRUE <br />GE:RIIFIC LASTPAOE <br />J.K. BM <br />