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Prepared by,record and return to:
<br /> Office of the County Attorney
<br /> 1801 27d'St.,Vero Beach,FL 32960
<br /> Telephone: 772.226.1424
<br /> THIRD AMENDMENT TO COLLATERAL DEVELOPMENT
<br /> AGREEMENT TERMINATING CERTAIN USE RESTRICTIONS SET
<br /> FORTH IN THE COLLATERAL DEVELOPMENT AGREEMENT AND
<br /> TERMINATING THE SECOND AMENDMENT TO COLLATERAL
<br /> DEVELOPMENT AGREEMENT WITH RESPECT TO CITY PROPERTY
<br /> THIS THIRD AMENDMENT TO COLLATERAL DEVELOPMENT AGREEMENT
<br /> ("Third Amendment to Collateral Development Agreement") is entered into as of the _day of
<br /> , 2015 by and between Indian River County, a political subdivision of the State of Florida
<br /> ("County") and the City of Vero Beach, a municipal corporation organized under the laws of the
<br /> State of Florida("City").
<br /> WHEREAS, on November 17, 2005, the City purchased 37+/- acres of real property commonly
<br /> known as the former Dodgertown nine-hole golf course (hereinafter"City Property"); and
<br /> WHEREAS, on November 17, 2005, the City, Los Angeles Dodgers, LLC (hereinafter
<br /> "Dodgers") and DT Commons, LLC (hereinafter "DT Commons") executed that certain Second
<br /> Amendment to the Collateral Development Agreement, recorded on November 17, 2005, which
<br /> provided in paragraph 3 that the City shall develop the City Property solely as (i) a municipally-
<br /> owned public golf course, or(ii) green space, or(iii)park-like setting, or(iv)any combination of
<br /> the foregoing three uses(hereinafter"Use Restrictions"); and
<br /> WHEREAS, pursuant to said Second Amendment to the Collateral Development Agreement,
<br /> the City was not to develop and/or permit the use of the City Property for any other use or
<br /> purpose whatsoever without the prior written consent of both the Dodgers and the County, which
<br /> consent could be granted or denied by either the Dodgers or the County in the exercise of their
<br /> respective sole and absolute discretion; and
<br /> WHEREAS, on November 17, 2005, the City and the Dodgers executed that certain Declaration
<br /> of Covenants, Conditions, and Restrictions, recorded on November 17, 2005, limiting the City's
<br /> use of the City Property to the Use Restrictions as stated in the Second Amendment to the
<br /> Collateral Development Agreement; and
<br /> WHEREAS, in February 2008, the County succeeded to all interests of the Dodgers in said
<br /> Second Amendment to the Collateral Development Agreement and Declaration of Covenants,
<br /> Conditions, and Restrictions, as outlined in Article 3 of the Third Amendment to Facility Lease
<br /> Agreement dated February 19, 2008, and recorded on March 17, 2008, leaving the County and
<br /> the City as the sole parties in interest with respect to the documents as they relate to the City
<br /> Property; and
<br /> WHEREAS, on June 1, 2011, the County and the City completed an exchange of certain parcels
<br /> of land included in the original Collateral Development Agreement, dated and recorded on
<br /> FAA,,.ryW_k0.d,r aorunn IMW A, d—w M C.Um-1 Dew op i Ag.,—.A— Page 1 of 3
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