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AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND VERO VILLAGE, LLC 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 (hereinafter the "COUNTY") and Vero Village, LLC , the address of which is 2945 20'h Street; Vero Beach, FL 32960, (hereinafter the DEVELOPER) is effective upon execution by the second of the two parties . WHEREAS, the DEVELOPER, in conjunction with the construction improvements at 37'b Street between 58'" Avenue and 66'h Avenue, is providing water and wastewater facilities to serve the subject property located at 6355 — 6375 37i° Street , and more specifically described in Exhibit "A"; and 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 over-sizing of the off-site utilities as outlined below : A . 8-inch Diameter Water Main alone 37'h Street from 58"' Avenue to Vero Village ' s west property line : The DEVELOPER shall furnish and install 4,680 LF of 8" water main from 58" Avenue to the site ' s western property line. Reimbursement: Following the DEVELOPER' s payment of its fair share of line extension fees, 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 property area (acreage) (See Exhibit E), and paid to the DEVELOPER after the other properties pay their fair share. The COUNTY will act as a pass-through agent. The COUNTY ' s obligation to make reimbursement to DEVELOPER shall expire five (5 ) years from the date of this Agreement. Reimbursement shall be in the form of check from the COUNTY , and shall not exceed the amount of $ 1459916. 82 (see attached Exhibit B) . Page I of 7