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of 40 • I CONTRACT # 97 -CT -5R -97 -7A -A1-044 FLORIDA COMMUNITIES TRUST P7A AWARD # 96-044-P7A ADDENDUM V TO CONCEPTUAL APPROVAL AGREEMENT THIS ADDENDUM V to the Conceptual Approval Agreement is entered into by and between the FLORIDA CONWIUNITIES TRUST ("FCT"), a nonregulatory agency within the State of Florida Department of Community Affairs, and INDIAN RIVER COUNTY("FCT Recipient"), this __ day of 11999. WHEREAS, the parties hereto entered into a Conceptual Approval Agreement which sets forth the conditions of conceptual approval that must be satisfied by FCT Recipient prior to the receipt of the FCT Preservation 2000 award and the restrictions that are imposed on the Project Site subsequent to its acquisition with the FCT Preservation 2000 award; WHEREAS, the initial term of the Conceptual Approval Agreement expired October 31, 1997; WHEREAS, the Conceptual Approval Agreement was amended by ADDENDUM I to expire April 30, 1998, by ADDENDUM U to expire October 31, 1998, by ADDENDUM III to expire April 30, 1999, and by ADDENDUM IV to expire October 31, 1999; WHEREAS, the FCT Recipient in accordance with GENERAL CONDITIONS paragraph 3 of the Conceptual Approval Agreement and in compliance with Rule 9K - 4.010(2)(k), F.A.C., has timely submitted to FCT a written request for extension of the October 31, 1999, deadline; WHEREAS, GENERAL CONDITIONS paragraph 14 of the Conceptual Approval Agreement states that the agreement may be amended at any time prior to FCT giving final project plan approval to the FCT Recipient. Any agreement must be set forth in a written instrument and agreed to by both the FCT Recipient and FCT; WHEREAS, the parties hereto desire to extend the term of the Conceptual Approval Agreement as provided by Rule 9K -4.010(2)(k), F.A.C.; NOW THEREFORE, the FCT and FCT RECIPIENT mutually agree as follows: 1. Notwithstanding the language of Section I. GENERAL CONDITIONS, para- graph 3., the parties hereby agree to revive it mune pro tune as though it had not lapsed in accordance with paragraph 3. 2. In every respect, this amendment is to be construed and applied as though the parties had both signed it before October 31, 1999. ADDV/96-044-P7A 9/23/99 1 of 2