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3. Changes in Densities and Intensities. Amendments to the zoning classification, permits or other approvals for Venetian Grove from time -to -time, which do not increase the utility impacts beyond the development densities proposed or allowed herein or the equivalent thereof, shall not affect the validity or vary the terms of this Agreement. If a zoning change is made that in any way increases such water and sewer impacts as set forth herein, this Agreement shall not be effective only as to the incremental development causing the increased impacts, but such incremental development shall not limit or impair any rights, privileges and benefits afforded by this Agreement. 4. Off -Site Utility Improvements. The Developer shall construct the Off -Site Utility Improvements substantially as described hereinabove and otherwise as directed by the Indian River County Utilities Department. The County shall reimburse the Developer for a portion of the Off -Site Utility Improvements, as set forth herein. Developer shall submit final plans for construction of off-site utility improvements to the County prior to commencement of construction, which final plans may propose a different route for Off -Site Utility Improvements, and the County shall have 30 days to review, amend and/or approve said plans. The Developer shall construction the Off -Site Utility Improvements in accordance with the following schedule: a. Design completed by the time of issuance of a building permit for the 200th home; and b. Construction initiated by time of issuance of a building permit for the 300th home; and c. Construction completed by no later than the time of the issuance of a building permit for the last home in Phase 2 * Phasing of the Project anticipated to be: Phase 1 251 homes Phase 2 340 homes Phase 3 309 homes Any changes to this phasing schedule will an amendment to this Agreement per Section 11 herein. Developer agrees that failure to meet the above schedule may result in the County placing a hold on issuance of building permits. 5. Reimbursement. The County shall reimburse the Developer an amount equal to sixty percent (60%) of the total cost of design, permitting, construction and installation of the Off - Site Utility Improvements (the "Improvements Expenses"). The Developer shall have the right to submit an invoice, together with reasonable supporting documentation, to the County each month for the County's sixty percent (60%) share of all of the Improvements Expenses incurred by the Developer for the immediately preceding month, and the County shall pay its sixty percent (60%) share of such Improvements Expenses per the Florida Local Government Prompt Payment Act. The reimbursement rate of sixty percent (60%) is calculated based upon the estimated "developable" number of homes that could be built in the surrounding area (based on acreage with the existing urban service boundary) including the Venetian Grove development to be approximately 2211 homes with Venetian Grove proposing to develop around 900 homes. Page 3 of 10