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DEVELOPER' S AGREEMENT BETWEEN i INDIAN RIVER COUNTY, FLORIDA b� t AND SHELBY HOMES AT OSLO , INC . FOR BRADFORD PLACE MAJOR SITE PLAN THIS AGREEMENT , entered this 7th day December , 2004 , by and between INDIAN RIVER COUNTY , FLORIDA a political subdivision of the State of Florida , 1840 25" Street , Vero Beach , Florida , 32960 hereafter called COUNTY and SHELBY HOMES AT OSLO , INC . , the address of which is 6363 NW 6th Way, Suite 250 , Ft . Lauderdale , FL 33309 , hereafter referred to as the DEVELOPER . WITNESSETH WHEREAS , the Developer proposes to develop a residential community to be known as Bradford Place on a 28 . 55 acre site situated on the north side of Oslo Road jut east of the intersection of 27th Avenue and Oslo Road (9th Street SW) , ( Indian River County Project Number (SP-MA-04-06-27) (the " Project") which is legally described on Exhibit "A" attached hereto and incorporated herein by reference ; and WHEREAS , the COUNTY and DEVELOPER share mutual goals and can assist each other with respect to right-of-way acquisition and off-site intersection improvements : and WHEREAS , the Indian River County Planning & Zoning Commission granted their approval to the Major Site Plan known as Bradford Place on September 23 , 2004 . NOW, THEREFORE , in consideration of the mutual terms , conditions , promises , covenants and premises hereinafter, and other good and valuable consideration , the receipt and sufficiency of which is hereby acknowledged , the County and Developer agree as follows : 1 . Recitals : The foregoing recitals are true and correct hereby incorporated as if fully restated herein ; 2 . Right-Of-Way Dedication (without Compensation ) : The Developer shall dedicate to County without compensation a strip of property approximately 25 feet wide to be used as right-of- way to meet the County's 60 foot minimum right-of-way width for an existing deficient portion of unnamed right-of-way directly abutting the site as depicted on Exhibit " B" (Shown on S eet 1 of 3 as PROPOSED R/W DEDICATION "A") . Exhibit " B" is attached hereto and incorpora ed herein by reference . Developer shall convey this property to County by warranty deed or final plat dedication . 3 . RiahtwOfWay Acquisition (with Compensation ) : Indian River County's ultimate right-of- way for Oslo Road (9th Street SW) listed in the Comprehensive Plan Thoroughfare PI an is 130 feet wide . Developer shall dedicate to the County by warranty deed , final plat dedication or other instrument , a 55 foot wide strip of property to be used as right-of-way along the project's 966 . 85 feet of Oslo Road frontage ( 1 . 22 acres of land) lying south of and within 130' of the Section Line as 1