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• C 1 -`7- 00 DEVELOPER'S AGREEMENT BETWEEN Il'+DIAN RIVER COUN'T'Y, FLORIDA AND HOMEI )WN HESS T141S AGREEMENT made this 7th day of March __, 2000 by and between INDIAN RIVER COUNTY, a political subdivision of the State of Florida, 1840 25th Street, Vero Beach, Florida 32460, hereafter called "COUNTY" and Bhaskar Barot ,, 4110 Old Dixie Highway, Vero Beach, Florida 32967, hereafter referred to as the "DEVELOPER." WITNESSETH: WHEREAS, the Developer owns a 1..5 acre parcel of land located on the weslside of U.S. I between 41st and 42nd Street, which is legally described on Exhibit "A" attached hereto and incorporate herein by reference, and WHEREAS, the County and Developer share mutual concerts with respect to road and drainage facilities for the westside of U.S. l between 41st and 42nd Streets and development of a convenience store located between 41st and 42nd Streets. WHEREAS, both the County and Developer can assist each other through a joint effort that will facilitate widening the road and providing stormwater treatment. NOW, THEREFORE, in consideration of the mutual terms, conditions, promises covenants and premises hereinafter, the County and Developer agree as follows: The above recitals are affirmed as being true and correct and are thereby incorporated herein. 2. The Developer shall design, obtain permits, and construct a southbound right tunt lane along U.S. Highway 1 between 41st surd 42nd Streets. The Developer shall fund the cost of the turn lane north of the project driveway connecting to US 1. Tile County shall fund $10,558.93 of the cost of the tuni lane between the project driveway and 41st Street. The roadway portion of the project cosi is $42528.00. Thi; Developer has obtained at least two competitive bids for the project as approved by the Public Works Director. The Developer shrill laity this remaining. $25,969.07.