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Prepared by, record and return to: <br />Office of the County Attorney <br />1801 27th St., Vero Beach, FL 32960 <br />Telephone: 772.226.1424 <br />3120150056523 <br />RECORDED IN THE PUBLIC RECORDS OF <br />JEFFREY R SMITH, CLERK OF COURT <br />INDIAN RIVER COUNTY FL <br />BK. 2878 PG: 477 Page 1 of 3 9/18/2015 1 08 PM <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:1-/-day of <br />, - 015 by and between Indian River County, a political subdivision of the State of Florida <br />`CSC. ty") 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 />FMrwrnryNlanlDndgeno n Doxuman4lThlydAnte nAnem to Cdlmeiv/Development Agreemen.dva <br />Page 1 of 3 <br />