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<br />DEVELOPER'S AGREEMENT BETWEEN
<br />INDIAN RIVER COUNTY, FLORIDA
<br />AND
<br />WELTON CONVENIENCE STORE
<br />Iff Z) ?/
<br />4/ l4/99(W el tonda¢r)rt(P W D)
<br />QQ— l ls—
<br />THIS AGREEMENT, entered into this _7— day V�%_, 1999 by and
<br />between INDIAN RIVER COUNTY, FLORIDA a political subdivision of the State of Florida,
<br />1840 25'h Street, Vero Beach, Florida, 32960, hereafter called "COUNTY", and the LONE
<br />CABBAGE TRADING COMPANY, 5180 67TH STREET, VERO BEACH, FL, 32967,
<br />hereafter referred to as the "DEVELOPER".
<br />WITNESSETH
<br />WHEREAS, the DEVELOPER owns a 1.72 acre parcel of land located at northwest comer
<br />of US t and 531' Street, which is legally described on Exhibit "A" attached hereto and incorporated
<br />herein by reference, and
<br />WHERF;AS, the COUNTY and DEiVELOnp. share mutual concerns with respect to road
<br />and drainage facilities for 53"' Street between US I and Old Dixie highway and US Highwayl and
<br />development of convenience storc located at the northwest corner of 531 StrectAis I intersection;
<br />and
<br />WHEREAS, both the COUN-f Y and DEVELOPER can assist each other through a joint
<br />effirrt that will facilitate paving the road and providing stormwater treatment.
<br />NOW, TH EREFORF., in consideration of the mutual tertn,, conditions, promises covenants
<br />and premises hercinafler, the COUNTY and DEVELOPER agree as follows:
<br />I . The above recitals ate affirmed as being true and correct and are thereby incorporated
<br />herein,
<br />2. The DEVELOPER shall design, obtain permits, and construct a southbound right
<br />turn lane along US I lighway I north ol'53'1 Street. The DEVEl,OPE'R shall fund the
<br />cost of the turn lane north of the project driveway connecting to US I. 1 h
<br />COUNTY shall fund 530,000 of the cost of the turn lane between the project
<br />driveway and 53" Street. The project cost is 547,005. The DEVELOPER has
<br />obtained at least two conlpetitive bids for lite project as approved by the Public
<br />Works Director. The DEVELOPER shall pay the remaining S 17,005., plus the cost
<br />of the tum lane north of the project driveway, which is $47,461.
<br />3. The DEVELOPER shall design, obtain permits, and construct a two/three lane
<br />roadway along 531d Street between US Highway 1 and Old Dixie Highway, with left
<br />tum lanes as needed. The cost of the construction of the project is $41,118. The
<br />COUNTY shall pay 75% of the cost or $30,838.50. The DEVELOPER shall fund
<br />the remaining cost or $10,279.50. The DEVELOPER has obtained at least two
<br />competitive bids, as approved by the Public Works Director.
<br />4. The cost of engineering design services is $8,895.18. The COUNTY shall pay
<br />$5,000 of the cost and the DEVELOPER shall pay the remainder, $3,895.18.
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