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Prepared by, record and return to: Office of the County Attorney 1801 27th St., Vero Beach, FL 32960 Telephone: 772.226.1424 3120150056523 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH, CLERK OF COURT INDIAN RIVER COUNTY FL BK. 2878 PG: 477 Page 1 of 3 9/18/2015 1 08 PM THIRD AMENDMENT TO COLLATERAL DEVELOPMENT AGREEMENT TERMINATING CERTAIN USE RESTRICTIONS SET FORTH IN THE COLLATERAL DEVELOPMENT AGREEMENT AND TERMINATING THE SECOND AMENDMENT TO COLLATERAL DEVELOPMENT AGREEMENT WITH RESPECT TO CITY PROPERTY THIS THIRD AMENDMENT TO COLLATERAL DEVELOPMENT AGREEMENT "Third Amendment to Collateral Development Agreement") is entered into as of the:1-/-day of , - 015 by and between Indian River County, a political subdivision of the State of Florida `CSC. ty") and the City of Vero Beach, a municipal corporation organized under the laws of the State of Florida ("City"). WHEREAS, on November 17, 2005, the City purchased 37+/- acres of real property commonly known as the former Dodgertown nine -hole golf course (hereinafter "City Property"); and WHEREAS, on November 17, 2005, the City, Los Angeles Dodgers, LLC (hereinafter "Dodgers") and DT Commons, LLC (hereinafter "DT Commons") executed that certain Second Amendment to the Collateral Development Agreement, recorded on November 17, 2005, which provided in paragraph 3 that the City shall develop the City Property solely as (i) a municipally - owned public golf course, or (ii) green space, or (iii) park -like setting, or (iv) any combination of the foregoing three uses (hereinafter "Use Restrictions"); and WHEREAS, pursuant to said Second Amendment to the Collateral Development Agreement, the City was not to develop and/or permit the use of the City Property for any other use or purpose whatsoever without the prior written consent of both the Dodgers and the County, which consent could be granted or denied by either the Dodgers or the County in the exercise of their respective sole and absolute discretion; and WHEREAS, on November 17, 2005, the City and the Dodgers executed that certain Declaration of Covenants, Conditions, and Restrictions, recorded on November 17, 2005, limiting the City's use of the City Property to the Use Restrictions as stated in the Second Amendment to the Collateral Development Agreement; and WHEREAS, in February 2008, the County succeeded to all interests of the Dodgers in said Second Amendment to the Collateral Development Agreement and Declaration of Covenants, Conditions, and Restrictions, as outlined in Article 3 of the Third Amendment to Facility Lease Agreement dated February 19, 2008, and recorded on March 17, 2008, leaving the County and the City as the sole parties in interest with respect to the documents as they relate to the City Property; and WHEREAS, on June 1, 2011, the County and the City completed an exchange of certain parcels of land included in the original Collateral Development Agreement, dated and recorded on FMrwrnryNlanlDndgeno n Doxuman4lThlydAnte nAnem to Cdlmeiv/Development Agreemen.dva Page 1 of 3