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_ AN AGREEMENT BETWEEN
<br />FILE,90 PY
<br />CITY OF SEBASTIAN, 'FLORIDA,
<br />INDIAN RIVER COUNTY, FLORIDA
<br />AND
<br />NELSON I[YATT
<br />For Constructing Improvements to Barber Street
<br />between FEC Railroad and Us 1
<br />THIS A.GTREEIT1, made this JAI day of, 19990, by and
<br />! between INDIAN RIVER COUNTY, a political subdivision f the State of
<br />Florida, 1840 25th Street, Vero Beach, Florida, 32964, hereafter called
<br />"COUNTY", the City of Sebastian, a municipality within Indian River
<br />County, 1225 Main Street, Sebastian, Fl. 32958, hereafter called "CITY"
<br />and Nelson C. Hyatt, 9605 S. US 1, Sebastian, FL. 32958-6363 hereafter
<br />called "DEVELOPER", and his heirs or assigns,
<br />WITNESSETH:
<br />RZOR tW, the DEVELOPER has constructed a two-lane roadway between
<br />Sebastian Highlands Subdivision, Unit 17 (bristol Street) and US 1 along
<br />Stratton Avenue Extension, also known as Barber Street Extension,
<br />s
<br />hereafter called PROJECT 111, and
<br />WREREAS, the DEVELOPER is requesting Traffic Impact Fee Credits for
<br />PROJECT #1, and
<br />WFAS, the COUNTY, CITY and DEVELOPER, in conjunction with the
<br />construction improvements of the Villages of Lake Dolores, Inc. a
<br />manufactured home park, located along the west side of US 1 along Barber
<br />Street in the City of Sebastian, F1, propose to provide needed right-of-
<br />way, construct roadway relocation, drainage, utility relocation and
<br />easement abandonment and related improvements to Barber Street Extension
<br />(PROJECT 41) along the east 6001 for its proper alignment with Pelican
<br />Point driveway, hereafter called PROJECT 02; and
<br />WHERFAS, the COUNTY and the CITY wish to cooperate with the
<br />DEVELOPER by providing additional surveying, engineering and construction
<br />services for PROJECT # 2; and,
<br />WBEREAS, the COUNTY has requested that the DEVELOPER provide right-
<br />of-way and building_ relocation services for the construction of PROJECT'
<br />#2 at no additional cost to the COUNTY and CITY beyond the Traffic Impact
<br />Fee Credit proposed for PROJECT 41;
<br />NOW THFZEE'ORE, for and in consideration of the premises and other
<br />good and valuable consideration, the COUNTY, CITY and DEVELOPER agree as
<br />follows:
<br />PROJECT 02 - Relocate Barber Street between FEC Railroad and U Y
<br />1. The DEVELOPER agrees to dedicate right-of-way and deed all
<br />roadway improvements on Barber street as described in PROJECT
<br />01 as approved by COUNTY and CITY. compensation to the
<br />DEVELOPER shall be by Traffic Impact Fee credit applied to
<br />property described in Attachment "A". The amount of Traffic
<br />Impact Fee Credit is as follows:
<br />Right -of -Way $294 688.50
<br />Roadway y254,721.40
<br />Total $54,9,412.50
<br />2. The COUNTY will survey, engineer, and construct PROJECT 02 at
<br />no cost to the DEVELOPER. The design shall be mutually
<br />agreeable between the three parties to this Agreement.
<br />3. The DEVELOPER will deed to the CITY the needed right--of--way to
<br />relocate the east 6001 of Barber Street Extension at no cost
<br />to the CITY or COUNTY.
<br />4. Once all engineering, permitting and right-of-way acquisition
<br />is complete, the COURZTY will construct the improvements for
<br />PROJECT 02. After the road relocation construction is
<br />complete, the CITY will proceed to vacate the east approximate
<br />:%WF 411111",ti':[111TrUv7IIIIT;ATT.nF.7 1
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