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August 29, 2001, in order for the County to develop a cloverleaf ball field on a 11.93 acre parcel
<br /> (hereinafter"Cloverleaf Property"); and
<br /> WHEREAS, on May 3, 2011, in light of the Use Restrictions in paragraph 3 of the Second
<br /> Amendment to Collateral Development Agreement and the County's reserved right of consent
<br /> provided therein to allow other uses, the County's Board of County Commissioners (hereinafter
<br /> "Board") adopted Resolution 2011-34, recorded on August 11, 2011, whereby the County gave
<br /> its written consent to allow the Cloverleaf Property to be developed by the County into (i)
<br /> baseball fields, or (ii) any purpose consistent with the purposes of the baseball facilities as
<br /> defined in the 2001 Collateral Development Agreement; and
<br /> WHEREAS, on June 1, 2011, the County and the City executed the First Amendment to
<br /> Declaration of Covenants, Conditions, and Restrictions, recorded on August 11, 2011, to remove
<br /> the Use Restrictions on the Cloverleaf Property and transfer such Use Restrictions to the 10.38
<br /> acre parcel the City received in that parcel exchange; and
<br /> WHEREAS, the City and the County entered into that Interlocal Agreement, recorded on April
<br /> 21, 2015 and effective as of May 18, 2015, in which the County agreed inter alia to amend or
<br /> otherwise modify the Second Amendment to the Collateral Development Agreement and to
<br /> eliminate the Use Restrictions on the City Property; and
<br /> WHEREAS, in addition to releasing the City Property from the Use Restrictions set forth in the
<br /> Second Amendment to the Collateral Development Agreement, the City and the County wish to
<br /> release the City Property from various other use restrictions set forth in the Collateral
<br /> Development Agreement, entered into on August 29, 2001, and recorded on August 29, 2001, at
<br /> Book 1426, Page 596 of the public records of Indian River County, Florida,
<br /> WHEREAS, City and County now desire to enter into this Third Amendment to Collateral
<br /> Development Agreement,
<br /> NOW THEREFORE, in consideration of the mutual undertakings herein and other good and
<br /> valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties
<br /> agree, as follows:
<br /> 1. Recitals. The above recitals are true and correct and are incorporated herein.
<br /> 2. Termination of the Second Amendment to Collateral Development Aareement as to
<br /> the City Property. The Second Amendment to Collateral Development Agreement,
<br /> entered into on November 17, 2005, and recorded on November 17, 2005, at Book 1961,
<br /> Page 985 of the public records of Indian River County, Florida is hereby terminated and
<br /> declared to be of no further force or effect as to the City Property.
<br /> 3. Termination of Collateral Development Aareement as to City Property. The
<br /> provisions of Section 1(B) (Master Plan), Section 1(C) (Hotel), Section 2 (Architectural
<br /> Review and Approval), Section 4 (Regulations of Operation and Uses) and Section 5
<br /> (Cooperation Between Dodgers and Developer; New Player Housing) of the Collateral
<br /> Development Agreement, entered into on August 29, 2001, and recorded on August 29,
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