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Am tam • 6'5'hStreet Totai Frontage Cost Per Front ($/ft) Develotaer's Cost 124 120 $11.25 $1,350.00 B Master -planned 16 -inch diameter water maim construction; The DEVELOPER shall fitmish and install a 16 -inch water main from the eastern property line of the subdivision on 69'i' Street, along 69"' Strcet to die western property lime of the subdivision, a distance of approximately 366 LF (See Exhibit A) Reimburs9ment: Tice. County shall reimburse the DEVELOPER pursuant to the provisions of Section 201.11, Code of Indian River County, for funds advanced by DEVELOPER to construct facilities in accordance with the COUNTY's Master Pian, less the cost of the DEVELOPER hydraulic share of the lines and facilities. The funds to reimburse the DEVELOPER shall come from the capital projects budget based on projected future payment of capacity charges at a rate of one-fifth of the total reimbursable amount per year (after dedication of the utility to the COUNTY) for a period of five years. The first one-fifth payment shall be made at the time of the utility dedication to the COUNTY. Subsequent payments shall be made on the yearly anniversary of the utility dedication. If the amount of projected capacity charges is not realized, the reimbursement to Developer shall be reduced proportionately. Compensation shall be in the form of a check from the COUNTY—the total of all payments shall not exceed the amount of $24,390.54, The obligation of the COUNTY to make reimburserncnt to the DEVELOPER shall expire five (5) years from the date of the Agreement. (See attachment B-2). The DEVELOPER'S share for this portion is tabulated below: 69" Strcet Total FrogWq _ Cost Per Front Footas!e ($Ift.) Developer's Cost 366 366 $11.25 $4,117.50 SC – 2. Amendment: This agreement may be modified only be a writtcu instrument executed br all parties to the agreement. SC - 2. Assignability: Either party may assign this Agrccment, however, the rights granted herein shall run with the land and are not considered the personal property of the DEVELOPER. Therefore, while the DEVELOPER has the right tinder this Agreement to freely transfer the rights and obligations granted by this Agreement, the assignee shall not have the right to transfer these rights to another property unless this Agreement is amended in writing by the arsignce and ate COUNTY to provids• othuretise, SC -3. Authori Each party hereto represents and warrants to the other that the execution of this agmenient and any other documents required or necessary to be executed pursuant to die provisions hereof are valid, b'mding obligations and are enforceable in accordance with their terms. SC - 4 Bidding and Award Thsa Indian Rivr_.r County L'•cFa-rtment of Utility Serr iws sha11 wvivw and apptum Lid proposais and engineering costs related with the Work described herein. At least three (3) bid estimates from qualified utility contractors must be submitted to the Department of Utility Services for n:view. Approval of project costs will tc a condition of dee Utility Department's reimbursement for construction. A:UIY,YEIMERS AGREEMENT mcrdar.duc