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• AGREEMENT FOR CONSTRUCTION OF IMPROVEMENTS TO 5TH STREET S.W. INDIAN RIVER COUNTY, FLORIDA TI -IIS AGRCI MEN'T for Construction of Improvemcots to 501 Street S.W., between 43rd Avenue and 58th Avenue, Indian River County, Florida, is made this § th_ day of_aUfte , 2000, between THE SUNTREE PARTNERS, a Florida limited partnership, ("Developer"), and INDIAN RIVER COUNTY, a political subdivision of the State of Florida, ("County"): RECITALS: A. The Developer is under contract to purchase and is planning to develop a planned residential development ("Development") located in Indian River County, Florida, along 5th Street S.W.; with the south relief canal to the north; and Kings Highway to the west. The Development is currently identified as Residential PD 99020108-001, in Indian River County, Florida. B. The County and the Developer acknowledge that 5th Street S.W., between 43rd Avenue and 58th Avenue is currently unimproved; is designated "Rural Major Collector" on the County's future roadway functional classification map in the County's Comprehensive Land Use Plan; and is designated for right of way acquisition and improvement in the County's Comprehensive Plaut, Transportation Element, Year 2020 Roadway Improvements Plan. C. County and Developer desire that acquisition of the right of way necessary to construct 5th Street S.W. between 43rd Avenue and 58th Avenue, and the actual construction of 5th Street S.W., occur in conjunction with the development of the Developer's project. D. County and Developer further desire that construction of the bridge on 5111 Street S.W. over the Lateral "I3" Canal occur in conjunction with the development of the Developer's project. AGREEMENT: For and in consideration of the mutual promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: Recitals. The foregoing recitals are hereby incorporated as if fully restated herein. 2. Construction of Fifth Street Soutinvest. A. The Developer agrees to construct a two-lane paved roadway according to County approved standards along 5th Street S.W., between 58th Avenue and 43rd Avenue, including a three -lane roadway with lett turn lanes at the intersection of 5th Street S.W. and the Developer's main entrance way, currently called "Citrus Springs Boulevard"; and including required turn lades. Developer shall prepare design drawings and obtain necessary permits. B. County shall contact property owners and diligently pursue acquisition of all right-of-way needed for the constrt3etion of 5th Street S.W. its a major rural collector road..