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AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND HALA A. SHALHOUB (DR. SHALHOUB OFFICE BUILDING) FOR THE CONSTRUCTION OF OFF-SITE UTILITIES THIS AGREEMENT, by and between INDIAN RIVER COUNTY, a political subdivision of the State of Florida, the address of which is 1840 25th Street, Vero Beach, Florida 32960 (known hereinafter as the COUNTY") and, Hala A. Shalhoub, (which is the entity developing Dr. Shalhoub Office Building) the address of which is 1302 River Reach Drive, Vero Beach, Florida 32967, (hereinafter the DEVELOPER) is effective upon execution by the second of the two parties. WHEREAS, the DEVELOPER, in conjunction with the construction improvements at Dr. Shalhoub Office Building, is providing water and wastewater facilities to serve the subject property located at 13100 US Highway 1 , Sebastian, Florida, and more specifically described in Exhibit "A" and as shown on Exhibit "C". WHEREAS, pursuant to Section 918.05 , The Code of Indian River County (Ordinance 90- 16, as amended), the COUNTY, requires the DEVELOPER to provide the utility improvements to serve the regional area, and agrees to reimburse the DEVELOPER, as provided herein, for the cost of providing these off-site utilities, NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good and valuable consideration, the COUNTY and DEVELOPER agree as follows : 1 . Off-Site Utilities : The DEVELOPER shall construct the necessary off-site utilities described herein as directed by the Indian River County Utilities Department. The COUNTY shall reimburse the DEVELOPER for constructing of the off-site utilities as outlined below: A. 8-inch Diameter Water Main along US 1 from Seacrest Plaza North, 1387 +/- LF : The DEVELOPER shall furnish and install 1387 +/- LF of 8 -inch watermain plus a prorated portion of the costs for the US Hwy 1 watermain crossing/interconnect under US Hwy 1 located south of Quality Health Care, Fountain Towers, LLC. Reimbursement : Following the DEVELOPER ' S payment of Capacity Charges, the COUNTY shall reimburse the DEVELOPER based on an itemized invoice of the installed material on a complete basis after the above referenced facilities are dedicated to and accepted by the COUNTY. The funds to reimburse the DEVELOPER shall derive from the connection charges of other properties that use the constructed lines and facilities based on their share of the hydraulic capacity used. Reimbursement shall be in the form of a check from the COUNTY, and shall not exceed the amount of $ 76, 896 . 09 (See Exhibit `B") 2 . Amendment: This Agreement may be modified only by a written instrument executed by all parties to the Agreement. Attachment 1 F UTILITIES UTILITYENGINE ERING PROIFC IS UTILITY CONSTRUCTION PERMITS SEBAS TIAN - SHALLOTS WATER MAIN LS TENSION UCP cZyO $NAL HOUB FIN AL DE\'ELOPER S AGREEMCN I_ MARCH E]. 1006.DOC