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AGREEMENT <br /> BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> VERO VILLAGE, LLC <br /> FOR THE CONSTRUCTION OF OFF-SITE UTILITIES <br /> THIS AGREEMENT by and between INDIAN RIVER COUNTY, a political subdivision of the State of <br /> Florida, the address of which is 1840 25th Street, Vero Beach, Florida 32960 (hereinafter the "COUNTY") <br /> and Vero Village, LLC , the address of which is 2945 20'h Street; Vero Beach, FL 32960, (hereinafter the <br /> DEVELOPER) is effective upon execution by the second of the two parties . <br /> WHEREAS, the DEVELOPER, in conjunction with the construction improvements at 37'b Street <br /> between 58'" Avenue and 66'h Avenue, is providing water and wastewater facilities to serve the subject <br /> property located at 6355 — 6375 37i° Street , and more specifically described in Exhibit "A"; and <br /> WHEREAS, pursuant to Section 918 . 05, The Code of Indian River County (Ordinance 90- 16, as <br /> amended), the COUNTY, requires the DEVELOPER to provide the utility improvements to serve the regional <br /> area, and agrees to reimburse the DEVELOPER, as provided herein, for the cost of providing these off-site <br /> utilities, <br /> NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good and <br /> valuable consideration, the COUNTY and DEVELOPER agree as follows : <br /> 1 . OFF- SITE UTILITIES : <br /> The DEVELOPER shall construct the necessary off-site utilities described herein as directed by the Indian <br /> River County Utilities Department. The COUNTY shall reimburse the DEVELOPER for over-sizing of the <br /> off-site utilities as outlined below : <br /> A . 8-inch Diameter Water Main alone 37'h Street from 58"' Avenue to Vero Village ' s west property line : <br /> The DEVELOPER shall furnish and install 4,680 LF of 8" water main from 58" Avenue to the site ' s <br /> western property line. <br /> Reimbursement: Following the DEVELOPER' s payment of its fair share of line extension fees, the <br /> COUNTY shall reimburse the DEVELOPER based on an itemized invoice of the installed material on <br /> a complete basis after the above-referenced facilities are dedicated to and accepted by the COUNTY. <br /> The funds to reimburse the DEVELOPER shall derive from the connection charges of other properties <br /> that use the constructed lines and facilities based on their property area (acreage) (See Exhibit E), and <br /> paid to the DEVELOPER after the other properties pay their fair share. The COUNTY will act as a <br /> pass-through agent. The COUNTY ' s obligation to make reimbursement to DEVELOPER shall expire <br /> five (5 ) years from the date of this Agreement. <br /> Reimbursement shall be in the form of check from the COUNTY , and shall not exceed the amount of <br /> $ 1459916. 82 (see attached Exhibit B) . <br /> Page I of 7 <br />