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<br />DEVELOPER'S AGREEMENT IN THE RECORDS OF
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<br />Between JEFFREY K. UARTONCLER
<br />INDIAN RIVER COUNTY, FLORIDA INDIA RIVER CO.,counT
<br />INDIAN FlIVEFl CFLA.
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<br />CA
<br />And
<br />LAUREL BUILDERS, INC.
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<br />This AGREEMENT, entered into this 14 day of p tr t , 2000 by and between
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<br />INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, 1840 25t1i
<br />Street, Vero Beach, Florida 32960, hereinafter called "COUNTY" and LAUREL BUILDERS, INC.,
<br />P.O. Box 2062, Vero Beach, Florida 32961-2062, hereinafter referred to as "DEVELOPER".
<br />WITNESS TO
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<br />WHEREAS, DEVELOPER owns a 133.23+- acre parcel of land at the northwest corner of Kings
<br />Oslo Road, known County Tax Parcels 20-33-39.00001-0150-00001.0, 20-33-39-
<br />Highway and as
<br />00001-0130.00003.0 and 20-33-39-00001-0090-00001.0, hereinafter referred to as "parent tract",
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<br />which is shown on Exhibit "A°" attached hereto and incorporated herein by reference, and
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<br />WHEREAS, the COUNTY and DEVELOPER share mutual concerns with respect to road and
<br />drainage facilities for Kings Highway (58'" Avenue), Oslo Road, and 5', Street SW, and
<br />development of DEVELOPER'S property located adjacent to these roads, and
<br />WHEREAS, both the COUNTY and DEVELOPER can assist each other through a joint effort
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<br />that will facilitate wwidening the road and providing stormwater treatment.
<br />NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants, and
<br />premises hereinafter, the COUNTY and DEVELOPER agree as follows:
<br />1. The above recitals are affirmed as being true and correct and are thereby incorporated herein.
<br />L Within 30 days of execution of this AGREEM ENT by all required parties, DEVELOPER.
<br />shall convey by warranty deed, a parcel of land in the northeast corner of the parent tract to
<br />COUNTY for construction of a drainage retention facility. Said parcel shall measure 180 feet from
<br />north to south, and 363 feet from east to west (legal description attached as Exhibit "13"). The
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<br />COUNTY shall pay to (lie DEVELOPER the sum of 527,000.00 for said parcel. This AGREEMENT
<br />shall be recorded into the Public Records along with the warranty deed and shall survive the
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<br />transaction closing.
<br />3. The COUN'T'Y shall construct at the COUNTY'S sale cost and expense, intersection and
<br />roadway improvements along Kings Highway and Oslo Road to provide a four lane divided roadway
<br />Kings Highway
<br />aiong Kings Highway and add a felt tum lane to Oslo Road, both east and west of
<br />to be completed and open to traffic no later than November 30, 2005. The COUNTY will restore
<br />irrigation damaged, if any, caused by project construction. The COUNTY, its contractors, and/or
<br />subcontractors will comply with State Citrus Canker Decontamination Regulations.
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<br />4. The COUNTY shall construct its retention pond and outfall structure to the sublateral canal
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<br />on the south side of 5'" Street SW. This work will coincide with the 5$`" Avenue Project
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<br />construction. The outfall pipe shall be sized to accommodate DEVELOPER'S potential needs for
<br />future pond enlargement.
<br />5. DEVELOPER shall have rights to the excavated material if so desired.
<br />6. The COUNTY will fence its retention area. Should DEVELOPER decide to develop the
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<br />Parent Tract and (a) wishes to join and expand said pond for storm %w Ater capacity and aesilietic
<br />amenity purposes, or (b) simply utlize the existing retention area for aesthetic purposes, the
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