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4D <br />4D <br />F:Tubhc WorksWapisal t'ro]eels,KingsPli2lagrvcontracis�ovcrbyrinil.con3' 01-007 <br />DEVELOPER'S AGREEMENT <br />Between <br />INDIAN RIVER COUNTY, FLORIDA <br />And <br />LAKE GRACE OF VERO BEACH, LLC AND/OR ASSIGNEES <br />2001 <br />This AGREEMENT, entered into this 2nd day of January 1666 by and between <br />INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, 1840 25"h <br />Street„ Vero Beach, Florida 32460, hereinafter called "COUNTY" and LakeGtrace of Vero Beach,. <br />LLC, of 740 Oleander Street, Boca Raton, Florida 3348::, hercinafter referred to as "DEVELOPER", <br />WITNESS TO <br />WHEREAS, DEVELOPER owns a 31.75 acre parcel of land at the southwest corner of <br />Kings highway and 8'h Street, known as County'rax Parcel No. 17-33-34.00001-0010-00001.0, <br />which is legally described on Exhibit "A" attached hereto and incorporated herein by reference, and <br />WHEREAS, the COUNTY and DEVELOPER share mutual concerns with respect to road <br />and drainage facilities for Kings Highway (58"i' Avenue) and Bre Street and development of <br />DEVELOPIER's property located adjacent to these roads, and <br />WHEREAS, both the COUNTY and DEVELOPER cart assist each other through a joint <br />effort that will facilitate widening the road and providing; stomiwatcr treatment, and <br />WHEREAS, tfte acquisition contemplated by this AGREEMENT is in Settlement of dispute <br />between COUNTY and DEVELOPER and is under threat of condemnation. <br />NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants, <br />and premises hereinafter, (lie COUNTY and DI-VELOPER agree as fallows: <br />I. The above recitals arc al7inned as heing; true and correct and are thereby incorporated <br />herein. <br />2. Within 45 days of execution of this AGREEMENT by bath parties, DEVELOPER <br />shall convey by warranty decd 76 feet by approximately 1247 feel of right -or -way <br />to the COUNTY for construction of Kings Ilithway (legal description attached as <br />Exhibit "B"), reserving to DEVELOPER all rights of ingress, egress, air light and <br />view, between DEVELOPER's remaining properly and tate facility to be constructed <br />by COUNTY on said right -of --way and on adjacent lands. Location of ingress and <br />egress along Kings Highway shall be Subject to County Development Regulazz:ons. <br />