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This document prepared by and return to: 2/ 19/03Developer's Agreement Indian River County GHO VERO BEACH VIII, INC . CORP . Public Works Department 184025 1h Street Vero Beach, Fl . 32960 4 . 07 acres of right-of-way along 66t1i Avenue directly adjacent to Trillium sufficient to meet COUNTY ' S future right-of-way needs for 66tb Avenue. Currently, the right-of-way width of 66th Avenue directly abutting DEVELOPER' S property varies . The lands to be conveyed are depicted in Exhibit ` B". The COUNTY will compensate the DEVELOPER $ 35 ,000/acre (including prorated portions of a full acre), which is the DEVELOPER' S purchase price . The closing for right-of-way shall occur no later than 30 days following the signing of this Agreement by both parties . The DEVELOPER shall have the option to delay the closing for up to 60 days upon written notification. COUNTY shall pay all closing and transaction costs associated with sale of said right-of-way. 3 . Right-of-way Dedication - 26th Street : DEVELOPER agrees to convey to Indian River COUNTY approximately 0 . 3933 acres of right-of-way along 26th Street, directly adjacent to Trillium, sufficient to meet COUNTY ' S future right-of-way needs for 26th Street. The lands to be conveyed are depicted in Exhibit ` B" . The COUNTY will compensate the DEVELOPER $ 35 ,000/acre (including prorated portions of a full acre) which is the DEVELOPER ' S purchase price . The closing for right-of-way shall occur no later than 30 days following the signing of this Agreement by both parties . The DEVELOPER shall have the option to delay the closing for up to 60 days upon written notification. COUNTY shall pay all closing and transaction costs associated with sale of said right-of-way. 4 . The DEVELOPER agrees that in the event the COUNTY is able to acquire all the necessary right-of-way in order to allow the DEVELOPER to construct a typical 2 lane paved road along the 33rd Street (Cherry Lane) boundary of the proposed Trillium project prior to DEVELOPER receiving a Certificate of Completion for the Final Phase of the Trillium project, then DEVELOPER shall design, construct and pay the cost to pave a typical 2-lane road and construct a drainage system along 33rd Street (Cherry Lane) from 66th Avenue to the DEVELOPER ' S west property line to be funded under the COUNTY ' S Petition Paving Program. The COUNTY will reimburse DEVELOPER 50% of the cost of the 33rd Street paving and drainage project, based upon receipt of competitive bids, using the COUNTY' S current bidding procedures . The COUNTY shall reimburse DEVELOPER upon DEVELOPERS payment request schedule for completed portions of work. COUNTY shall make Final Payment to DEVELOPER not later than 30 days following the COUNTY ' S F:\Pubhc Works\Rebecca\STrE PLANS\Developer's Agreements\G10-TRllium Developers Agreement.doc �