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<�00 ? - 35fit SETTLEMENT AGREEMENT AND RELEASE THIS AGREEMENT ("Agreement"), having an effective date of October 16 2007 (the "Effective Date"), is entered into by and between MHC COUNTRYSIDE AT VERO BEACH, L.L.C., an Illinois limited liability corporation authorized to transact business in the State of Florida ("MHC") and INDIAN RIVER COUNTY, a political subdivision of the State of Florida ("IRC") . RECITALS A. MHC is the owner of Countryside of Vero, a manufactured housing community located in Indian River County ("Countryside"), formerly known as "Village Green, Phase IV (West)" and "Countryside North". B . Based upon various franchise agreements, other agreements and ordinances, MHC and/or the previous owners of Countryside were granted a franchise to supply water and sewer services to the residents of Countryside. IRC retained the right to require Countryside to connect to IRC ' s water and sewer systems , at the discretion of IRC . C . IRC required Countryside to connect to its sewer system and pay sewer impact fees for each equivalent residential unit ("ERU") within Countryside. Thereafter, MHC and the previous owners of Countryside entered into various agreements with IRC relating to the payment and schedule of payments for sewer impact fees. D . Disputes developed between MHC and IRC concerning the sewer impact fees. As a result, IRC filed an action against MHC styled, Indian River County v . MHC Count side at Vero Beach, L. L . C . , Case No. 2006-0114-CA-09 in the Circuit Court of Indian River County, Florida (the "Action") . E. The parties have negotiated a full and final resolution of all claims, actions or causes of action relating to the Action and the payment of sewer impact fees for 649 ERUs presently within Countryside, which is conditioned only upon IRC Commission approval . WHEREFORE, in consideration of the foregoing Recitals, which are hereby incorporated into and made a part of this Agreement, the mutual promises and covenants herein set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows : 1 . Payment for Sewer Impact Fees. Within 30 days of IRC Commission approval , MHC shall pay to IRC the sum of Three Hundred Fifty- Six Thousand Four Hundred Ninety Dollars and 00/ 100 ($356,490. 00) representing 150 ERUs at Two Thousand Three Hundred Seventy-Six Dollars and 60/ 100 ($2 , 376 . 60) per ERU . The foregoing payment satisfies and forever discharges all sewer impact fees payable to IRC for the 649 ERUs presently within Countryside.