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• <br />40 <br />® ii(7� <br />0/- 000 <br />DEVELOPER'S AGREEMENT <br />THIS DEVELOPER'S AGREEMENT is made this 23rd day of January , 2001, <br />between ELM DEVELOPMENT SERVICES, LLC, a Massachusetts limited liability company, <br />("Developer") and Indian River County, Florida, a political subdivision of the State of Florida, <br />1340 25th Street, Vero Beach, Florida 32960 ("County"). <br />RECITALS: <br />A. The Developer is under contract to purchase and is planning to develop a planned <br />residential golf course community tentatively called "The Colony", located in Indian River County <br />and bordered on the east and west, respectively, by 27th Avenue and 43rd Avenue, and on the north <br />and south, respectively, by 13th Street Southwest and 17th Street Southwest. The development is <br />currently identified by Indian River County File Number PD -00-10-21/2000050121-24497. <br />B. The Indian River County Comprehensive Land Use Plan designates 43rd Avenue at <br />the location of The Colony as a rural major collector road on the Future Roadway Functional <br />Classification Map, and designates 17th Street Southwest at this location as an urban collector road. <br />C. County and Developer desire that certain improvements to 17th Street Southwest and <br />to 43rd Avenue occur in conjunction with the development and construction of The Colony. <br />D. County further desires that construction of a bridge at 17th Street Southwest across <br />the 43rd Avenue Canal occur in conjunction with development and construction of The Colony. <br />AGREEMENT: <br />For and in consideration of the mutual promises contained herein, and other good and <br />valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties <br />agree as follows: <br />(1) Recitals: The foregoing recitals are hereby incorporated as if fully restated herein. <br />(2) General Provisions: In this Agreement, the following shall apply: <br />(a) "Construction Costs" shall mean and refer to surveying, engineering, <br />designing, permitting, constructing, inspecting, and related costs including materials, time, labor, <br />supervision, inspection, machinery, equipment use and rental, but not including administrative, <br />project management or similar fees. <br />(b) Whenever the Developer engages the services ofa Contractor to perform work <br />for which the County contributes all or part of the Construction Costs as contemplated in this <br />Agreement, the Developer shall require that the Contractor performing the work provide a certificate <br />